FoundOnEdgeProp: Living large in the East for under $1,100 psf
By Elizabeth Choong
/ EdgeProp Singapore |
Archipelago is a leasehold condo located along Bedok Reservoir Road that has 553 condo units and 24 strata landed units. (Photo: Samuel Isaac Chua/EdgeProp Singapore)
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SINGAPORE (EDGEPROP) – The East Region has always been popular with buyers. For the first 10 months of this year, the East Region accounted for 1,607 resale transactions of condo units, or 19.1% of total transactions. Last year, there were 2,513 transactions in the East Region, which made up 20.7% of total resale transactions for the year.
Resale transactions for units above 3,000 sq ft are even more rare. For the first 10 months of this year, there were only 110 transactions for such units, accounting for a mere 1.3% of the resale transactions during that timeframe.
We combed through the sales listings on EdgeProp and found several units of at least 3,000 sq ft in the East Region with asking prices that are under $1,100 psf. Buyers with large families may wish to consider these spacious and affordable homes.
Strata-landed units in District 16
Archipelago is located along Bedok Reservoir Road in District 16 and features 553 condo units as well as 24 strata landed units. The 99-year leasehold development obtained its temporary occupation permit (TOP) in 2015. Nearby amenities include Bedok North MRT Station, Damai Primary School, Bedok Reservoir Park, and the Pan Island Expressway.
Source: EdgeProp LandLens (as at 15 November 2023)
At the time of writing, there was a listing for a strata landed unit at Archipelago with an asking price of $3.58 million ($813 psf). The unit is 4,402 sq ft in size and has five bedrooms.
The unit in Archipelago with an asking price of $3.58 million (Photo: EdgeProp Singapore)
More choices along Flora Drive
Freehold Edelweiss Park Condominium is located along Flora Road in District 17. The 517-unit development obtained its TOP in 2006. Palm Isles is a 99-year leasehold condo that is also located along Flora Drive and within a 500m radius of Edelweiss Park Condominium. However, the 429-unit development is younger than Edelweiss Park Condominium, having obtained TOP in 2015.
While there are no MRT stations within walking distance of the two developments, the Tampines Expressway is a short drive away. Additionally, Tampines Mart, Komo Shoppes, East Spring Primary School, and East Spring Secondary School are within a 1km radius.
Source: EdgeProp LandLens (as at 15 November 2023)
At the time of writing, there was a listing for a 3,197-sq ft unit in Edelweiss Park Condominium with four bedrooms and an enclosed terrace. The asking price for the unit was $3.05 million ($954 psf).
The unit in Edelweiss Park Condominium with an asking price of $3.05 million (Photo: EdgeProp Singapore)
Palm Isles had a listing for a three-storey unit with an asking price of $3.14 million ($836 psf). The unit is 3,757 sq ft in size and has five bedrooms. Additionally, there was another listing in Palm Isles for a smaller five-bedroom unit. The 3,014-sq ft unit had an asking price of $2.8 million ($929 psf).
The unit in Palm Isles with an asking price of $3.14 million (Photo: EdgeProp Singapore)
Higher asking prices for District 15
At the time of writing, there was a listing for a 3,940-sq ft unit in Sanctuary Green with an asking price of $4.1 million ($1,041 psf). The penthouse unit has four bedrooms and a study.
The unit in Sanctuary Green with an asking price of $4.1 million (Photo: EdgeProp Singapore)
Sanctuary Green is located along Tanjong Rhu Road in District 15. The 99-year leasehold development obtained its TOP in 2004. The 522-unit condo is a short walk away from the upcoming Tanjong Rhu MRT Station on the Thomson-East Coast Line (TEL) that is expected to be completed next year. Other nearby amenities include Kallang Wave Mall, Singapore Sports Hub, Nicoll Highway, East Coast Parkway, and Marina Coastal Expressway.
Source: EdgeProp LandLens (as at 15 November 2023)
At the time of writing, there was also a listing for a unit in Laguna Park. The 99-year leasehold condo, located along Marine Parade Road, is also in District 15. The 516-unit development obtained its TOP in 1978. The listing was for a four-bedroom penthouse unit that is 3,370 sq ft in size. The unit had an asking price of $3.6 million ($1,068 psf).
The unit in Laguna Park with an asking price of $3.6 million (Photo: EdgeProp Singapore)
Laguna Park is located beside the upcoming Siglap MRT Station on the TEL, which is expected to be completed next year. East Coast Lagoon Food Village, Victoria School, Temasek Junior College, East Coast Park, and East Coast Parkway are also nearby.
Source: EdgeProp LandLens (as at 15 November 2023)
Average price for Districts 15, 16 and 17 are on the rise
Since 2012, the average resale price for condos in District 15 has consistently exceeded that of its counterparts in Districts 16 and 17. This could be attributed to the stronger price growth of 47% achieved for condos in District 15 , compared to price growths of 44% and 39% for Districts 16 and 17, respectively.
The current resale prices for condos in District 15 are $1,687 psf, which is $285 psf and $530 psf higher than their counterparts in Districts 16 and 17. The current average prices for resale condos in Districts 16 and 17 are $1,402 psf and $1,157 psf, respectively. It is notable that the current average resale prices for all three districts are higher than the asking prices of the listings highlighted above.
Source: EdgeProp Market Trends (as at 15 November 2023)
Check out the latest listings for Archipelago, Edelweiss Park Condominium, Palm Isles, Sanctuary Green, Laguna Park properties
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