5 Condos near the Tampines MRT station

By Aaron De Silva

/ EdgeProp SG |

May 28, 2018 3:54 PM SGT

With over a quarter of a million residents, Tampines is one of Singapore’s most popular and populated residential estates. It also happens to be one of the hottest areas to invest in. While HDB flats make up the bulk of the district, there is a growing cluster of condos along Tampines Avenue 10, near Tampines MRT station and Tampines West MRT station (which started service in October 2017).

There, developments have been springing up left, right and centre, starting with Sim Lian Group’s Waterview in 2010. The latest to join the fray is CDL’s The Tapestry. The preview in March this year attracted a huge crowd. The launch two weeks later saw over one-third of the 861 units being snapped up.

Part of the draw was the developer’s reputation. CDL is known for its high-end, high-quality offerings, typically located in prime/central areas. Its entry into Tampines is widely seen as a vote of confidence in the neighbourhood’s potential.

And what a potential that is. Having been planned and developed as a Regional Centre since the 1990s, Tampines has matured into a bustling commuter town for those working in nearby Changi Business Park, Changi Airport and the SUTD (Singapore University of Technology and Design). More job opportunities will be created when Jewel Changi Airport opens in 2019.

Economic potential aside, Tampines also offers some unique leisure and lifestyle pursuits. Just last year, Our Tampines Hub – an integrated community and lifestyle building – rose from the ashes of the former Tampines Stadium and Tampines Sports Hall. It provides residents with sporting facilities and events venues as well as shops and health centres.

For those who prefer the outdoors, there is Tampines Eco Green, a park designed to showcase different natural habitats like wetlands and rainforests. Park connectors link it to Sun Plaza Park, Bedok Reservoir Park and Tampines Quarry Park.

The latter has some history. Tampines was once a major location for sand quarrying, and the Park was one of more than 20 quarries in the area. Nowadays, the Park features lush vegetation, a small lake, and is popular with nature lovers.

The five condos featured here all overlook Tampines Quarry Park, and are all 99-year leasehold developments. They are about a 10-minute drive or 15-minute bus ride from Tampines MRT station, as well as a 7-minute drive or 9-minute bus ride from Tampines West MRT station.

The Tapestry

CDL’s The Tapestry is the newest condo near Tampines MRT station (expected TOP: 2022), and also the largest with 861 units. If you are eco-conscious, you will be happy to know that this project received the BCA Green Mark Platinum Award. Price-wise, the psf hovers between $1,106 and $1,532, with an average of $1,392. Listings on EdgeProp.sg reveal that a 441 sq. ft., one-bedroom unit goes for a little over $600,000, while a 1,432 sq. ft., four-bedder fetches around $1.6- to $1.7 million.

The Alps Residence

A large project spanning 626 apartments, MCC Land’s The Alps Residences is expected to TOP in 2020. Its architecture and design takes inspiration from the Swiss Alps. Indicative prices range from $984 to $1,282, averaging $1,087 psf. According to listings on EdgeProp.sg, a 689 sq. ft. one-bedroom unit will set you back just under $700,000, while a four-bedroom unit ranges from a little over $1 million to $1.5 million, depending on the size.

The Santorini

Another major development by MCC Land, the 597-unit The Santorini received its TOP in 2017 and has been selling well. Inspired by the Greek pleasure island of the same name, it features multiple lap and reflective pools. Units average $1,032 psf, though it ranges from $770 to $1,187. As current listings reveal, a 463 sq. ft. one-bedder fetches $650,000. A 1,765 sq. ft. five-bedder goes for $2.1 million. If you are buying this as an investment, note that the indicative rental yield is 3.6 %.

Q Bay Residences

Jointly developed by a consortium known as Quarry Bay Pte Ltd – a reference to the area’s history – Q Bay Residences houses 630 apartments across eight 16-storey blocks. Prices hover between $888 and $1,326 psf, with the median being $1,127. One-bedders (527 sq. ft.) have an asking price of around $700,000, with four-bedders (1,378 sq. ft.) fetching $1.7 million, according to current listings. The rental yield is 3 %.

Waterview

The second-largest condo near Tampines MRT station with 696 apartments, Sim Lian Group’s Waterview was an early mover. It launched in 2010 and received its TOP in 2014. Offering unblocked views of both Bedok Reservoir Park and Tampines Quarry Park, units here range from $731 to $1,115 psf, with an average of $961. A 786 sq. ft. two-bedroom apartment costs around $850,000 while a 3,778 sq. ft., five-bedroom penthouse unit has an asking price of $2.5 million, listings show. As an indication, the rental yield is 3.1 %.

Tags: