News

Given the glut of new launches we saw in 2020/21, quite a number have already been completed with residents moving in by the droves in the last year. For those who have constraints in their timeline for a new home, soon-to-be-completed projects are the ones to be looking at. As such, here’s where you’ll find the condos at or close to completion for the current year: Most affordable condos from the list (by median price psf): was a bit of a toss-up during its launch in 2021: at the time, it was a balance between the super attractive price point ($1,488 psf for a new launch!) versus a fringe location and limited land space.  This leasehold, 219-unit condo is about half the size of its neighbour, (see below). There isn’t even room for a tennis court. However, this was one of the last condos we’d ever see to have one-bedders at around $700,000, and in a way, luck was on the buyers’ side: The Commodore was also one of the last affordable new launches before Covid drove prices to new highs.  Location-wise, Commodore does have the drawback of being in a rather raw area. Canberra is still on the “ulu” side of things, although gradual developments like the Bukit Canberra hub make for good long-term prospects. The Commodore, like The Watergardens, offer first mover advantage; and it definitely helps that Canberra MRT (NSL) is within walking distance. Some buyers might question how much of a strength this is though, as Canberra is quite far from major hubs, even if the station is nearby.  There’s also a small mall, Sembawang Shopping Centre, in the direction of Sembawang Road. There’s a Giant supermarket here, and a cluster of eateries across the road. It’s not a huge amenity, but we expect this will build up over time. Another upside is being close to Jalan Sendudok Park, which provides ample greenery. Given how much prices have risen everywhere else, it’s safe to say when sub-sale transactions start coming up on the market, you won’t expect to see the $1,400 psf price any more. This 566-unit, leasehold condo is for urbanites: if you favour location and convenience over greenery, and you can handle the density around Sim Drive, you’ll find attractive. But if you’re the sort who needs park spaces and waterfront views, look elsewhere: Penrose hasn’t got the prettiest surroundings.  Penrose is within walking distance of Aljunied MRT station (EWL), which is significant as it’s just one stop from Paya Lebar. Paya Lebar Quarter (PLQ) area is a major commercial hub with offices, malls, entertainment, etc., so at the time of launch, Penrose was seen as a better-priced alternative to already inflated Paya Lebar prices. At the same time, Penrose has the advantage of being on the boundary between Paya Lebar and Geylang (far enough from the red light area that it’s not a worry). Being close to Geylang is immensely convenient, as the area is packed with convenience stores, eateries, 24-hour shops, and so forth. So this condo is nicely poised between the low-cost amenities in the Geylang Lorongs and the fancier offerings at PLQ. It does strike us as less of a family condo though, as traffic in this area is almost constant, and some of the surrounding shops/eateries have a somewhat run-down, “concrete maze” sort of feel. You definitely want to go for height and a better facing here.  In any case, this might just be one of the more profitable condos for those who bought Penrose early. At the time of writing, there have already been 42 sub-sale transactions, with each seller making an average of $332,119 so far! The is a leasehold, 448-unit condo, and is the direct neighbour of The Commodore (see above). The locational issues are similar: it’s within the greenery of Jalan Sendudok Park, and in the still unfolding neighbourhood of Canberra. But it’s in a bit of a far-flung area, even with Canberra MRT station (NSL) within walking distance.  Nonetheless, this was close competition for Commodore price-wise, with two-bedders still being around $900,000 or below. Again, this was one of the last few affordable new launches, before Covid sent prices soaring.  When compared to Commodore, it will come down to personal preferences in layout; but as far as the site goes, the developers missed the chance to really leverage on its larger size. While 448 units are not big, for example, we’d have expected better spacing between the blocks, as well as more generous facilities. To be fair, there are two pools here, one 50 metres and one 33 metres, compared to the Commodore’s single pool; but that alone isn’t a huge difference.  As with Commodore, Watergardens was – and is – good value, for those with longer holding periods for Canberra to develop. Given this was launched earlier than The Commodore, there have already been 2 sub-sale transactions recorded. Both are smaller units at 678 sq. ft. which registered profits of $114,000 and $133,000. These were transacted at $1.6 – $1.7k psf so far – prices that should be similar with Commodore. Like many boutique condos, Phoenix Residences was a bit under the radar when launched; but it was actually the second en-bloc (it used to be Phoenix Heights) to succeed right after the July 2018 cooling measures. This probably explains the developer’s caution and modest pricing, at around $1,520 psf. This is a 74-unit leasehold condo, ideally positioned for those who want the experience of landed living (minus the price and hassle of an actual landed home). There are no high rises in the immediate vicinity of Phoenix Road, and the project is on the cusp of Bukit Batok Nature Park (the famously scenic quarry is also nearby). This is perfect for those who want a break from Singapore’s densely urban environment. What’s interesting about this location is that, despite being an exclusive enclave, it’s quite accessible if you are the sort that doesn’t mind taking the LRT. The Phoenix LRT station is within walking distance, which links to Choa Chu Kang MRT (NSL, JSL). This makes it easy to access Lot One, the major mall servicing the area. Also, if you walk across Choa Chu Kang Road, the Teck Whye HDB enclave provides the usual heartland amenities, like coffee shops and convenience stores (there’s a Sheng Siong here too). This isn’t going to be a bustling hotspot anytime soon (nor would most of the residents here want that), but if you like nature parks and space to yourself, this is a good family condo. It’s the just-right mix of privacy and convenience, even if the small land area allows only very basic facilities.  is a mid-sized (660-unit) condo with an as good as freehold tenure, and an unusual choice of location. It’s near Sunset Way, which is a catered to the low-density enclave here. Most of the residences near this project are landed, so if you like privacy, Ki Residences delivers in spades.  You get spacious, high-quality units for a competitive price, but this is a location where you really need to drive. There’s no MRT station within walking distance, and it’s quite a long walk out to the bus stop as well (although the future Maju MRT station will provide some relief). That being said, the completion of the condo also means a new through-road to Clementi Road, which makes the bus stop more walkable (it’s still around 650 metres away though).  There are also no malls nearby, so you’ll have to travel out for things like groceries; your best bet here would be the Beauty World or Tampines areas, which are a little over a minute’s drive.  Overall, there’s not much here other than lots of peace and quiet, and – if you drive – fairly convenient access to the city centre. Also, note that the shuttle bus to Clementi MRT will run for quite a while – we understand it’s for the first three years at least, which helps a little with accessibility.  In any case, the recent sub-sale transactions have all been past the $2,000 psf mark (save for one, which at that price, is likely to be an anomaly). So with the 9 sub-sale transactions, this has been at a high profitable average of $422,533 so far! For more on private property options in Singapore, follow us on . We’ll also provide you with reviews of new and resale projects alike. If you’re unsure about your next property purchase, reach out to us for a detailed consultation.