New year, new launches, and new opportunities to find your dream home.

Following a lull in the earlier months of 2024, November saw no fewer than six new private residential developments hitting the market all at once. These include The Collective at One Sophia, Chuan Park, Emerald of Katong, Union Square Residences, Nava Grove, and Novo Place (Executive Condominium) – all of which saw heathy take-up rates on their respective launch weekends.

However, despite the strong demand exhibited by condo-seekers, it’s still early days as to whether such a level of interest is sustainable next year. Still, in any case, prospective private home buyers in Singapore will definitely have more new launches to look forward to as 2025 unfolds.

What are the new private home launches coming in 2025?

With 24 new private home developments, as well as three EC projects, anticipated to launch next year, 2025 is already shaping up to be a year of opportunity for owners and investors alike.

Below, a quick summary of these upcoming launches, which will bring close to 11,000 new private homes and 2,000 ECs to the market:

Table 1: New private home launches in 2025

Table 2: New executive condominium launches in 2025

Source: ERA Project Marketing, ERA Research and Market Intelligence

Core Central Region (CCR) launches in 2025

By and large, 2024 was a subdued year for CCR launches. In the first nine months of the year, developers launched just 313 new private homes in Singapore’s city core – a stark contrast to the 941 units in the RCR and 1,968 units in the OCR.

However, a turnaround is on the cards in 2025, with approximately 3,600 units across nine CCR launches projected for the full year.

Near Singapore’s Central Business District (CBD) and Marina Bay, homebuyers can expect to see the launch of W Residences – Marina View, as well as a yet-unnamed development at Marina Gardens Lane.

W Residences – Marina View is a premium development offering some 680 residences with unparalleled connectivity to three major expressways (Marina Coastal Expressway, Ayer Rajah Expressway, and Central Expressway) and multiple MRT stations (Shenton Way, Downtown, Marina Bay, Tanjong Pagar, Bayfront).

On the other hand, the upcoming launch at Marina Gardens Lane will be the first of its kind, being a 790-unit development close to Marina Bay Sands and Gardens by the Bay. Moreover, its proximity to the future Marina South MRT station promises great convenience for future residents.

Further away from the CBD, homebuyers can look forward to several small to mid-sized launches at four sites. These include River Valley Green (380 units), Holland Drive (680 units), Orchard Boulevard (280 units), and Aurea (188 units).

River Valley Green’s future launch is within reach of Great World MRT station and Great World City shopping centre, while also possessing strong rental prospects due to its CCR location. Meanwhile, Holland Drive’s location in District 10 makes it an appealing option for condo-seekers who prize proximity to both the city core and green spaces in Singapore.

Though it comprises just 280 units, the upcoming launch at Orchard Boulevard is big on convenience, as it has a direct link to Orchard Boulevard MRT station on the Thomson-East Coast Line. Not to mention, it is near the Orchard Road shopping belt which would give future residents access to a multitude of retail, dining and entertainment options.

Situated at the site of the former Golden Mile Complex, Aurea follows in the footsteps of its predecessor by offering residents the unique opportunity to live, work, and play at Beach Road. Besides providing a fresh supply of 188 new private homes to the area, Aurea’s launch will also be joined by an array of new retail shops, healthcare facilities and offices at The Golden Mile – a sister development for commercial use.

Rest of Central Region (RCR) launches in 2025

Not unlike the CCR, the RCR will see a total of nine projects making their debut in 2025. Collectively, these new launches will bring a fresh supply of 3,790 units to city fringe locations, such as Toa Payoh, Queenstown, and River Valley.

Notably, The Orie will make its debut in January, marking Toa Payoh’s first new launch in almost ten years since Gem Residences in 2015. Consequently, prospective buyers can anticipate stiff competition during The Orie’s launch, stemming from a potent combination of pent-up demand and limited supply in the neighbourhood.

Moreover, this future 777-unit development will be sited along Toa Payoh Lorong 1, which places it in close proximity of Braddell MRT station, several food centres, and notable educational institutions, including Pei Chun Public School and CHIJ Primary (Toa Payoh).

Over in Queenstown, condo-seekers can look ahead to a future mid-sized development at Margaret Drive, with a possible launch in 3Q 2025.

Said project is expected to feature a total of 460 units and boasts attractive attributes. These include its close proximity to Queenstown MRT station, Queenstown Public Library, as well as Margaret Drive Hawker Centre. Additionally, it lies within a 1km radius of Queenstown Primary School and Queensway Secondary School.

Similarly, 2025 is shaping up to be a thriving year for the River Valley precinct – with not one, but two new launches situated at Zion Road. Of these two projects, one (Zion Road – Parcel A) is on track for a 2Q 2025 launch and is earmarked for development as a pilot site for long-stay serviced apartments, while the other (Zion Road – Parcel B) could make its debut in 3Q 2025 with 610 private homes in total.

Outside Central Region (OCR) launches in 2025

While the OCR will have fewer launches than other regions, with only six private residential projects in 2025, it is still expected to deliver a comparable total of approximately 3,600 new homes. These projects are located in popular OCR locales, including Tampines, Clementi, Lentor, and Upper Thomson.

In particular, Parktown Residence stands out as the largest OCR project amongst next year’s upcoming launches. Comprised of 1,193 units, this mega-development in Tampines will be developed as an integrated project, giving residents convenient access to a bus interchange, community club, eateries, as well as the future Tampines North MRT Station on the Cross-Island Line.

Over at Clementi, Elta – a 501-unit, 99-year development – is slated for a first quarter launch. The area has previously seen a string of successful launches with Clavon and Clement Canopy achieving over 70% take-up rates on launch day. History could repeat, given Elta’s proximity to a well-rounded mix of reputable schools (e.g. Nan Hua High School, NUS High School of Mathematics and Science), convenient amenities (e.g. Clementi Mall, Clementi 448 Market & Food Centre), and transport nodes (e.g. Clementi MRT station).

Up North, Lentor will be seeing its sixth new launch in Lentor Central Residences. Since 2022, the private residential enclave has welcomed Lentor Modern, Lentor Hills Residences, Hillock Green, Lentoria, and Lentor Mansion, all of which have seen varying levels of success during their respective launches.

As of November 2024, most of the abovementioned developments have achieved solid take-up rates ranging from 65% to 98%, with Lentor Modern being fully sold. Hence, given this combination of strong demand and limited remaining stock, there’s a strong likelihood that future homes at Lentor Central Residences will also attract significant interest.

Meanwhile, 2Q 2025 could mark the launch of a large 940-unit development at Upper Thomson Road. The site of this upcoming condo project sits within walking distance of Springleaf MRT station, and is also closely located to MacRitchie Reservoir. This means that future residents can enjoy the best of both worlds: efficient transport connectivity to urban areas, as well as proximity to green spaces nearby.

Executive Condominium launches for 2025

In contrast, 2025 is expected to bring a surge in EC supply, with approximately 2,030 units across three launches – Aurelle of Tampines (760 units), Plantation Close (560 units), and Jalan Loyang Besar (710 units). This could also potentially mark the highest number of EC dwellings to be launched in a year since 2014, when 2,505 units made their debut.

Aurelle of Tampines is situated near the upcoming Tampines North MRT station, as well as Tenet, a popular EC that sold 72% of its units on launch day. Tenet’s performance was largely thanks to its location in a well-established town – an advantage that Aurelle could also benefit from.

Likewise, both future ECs at Plantation Close and Jalan Loyang Besar hold appeal as well. The Plantation Close EC is located within Tengah, which is envisioned to be developed as a futuristic new town under URA’s West Region Master Plan. As for the future EC at Jalan Loyang Besar, it is within reach of notable amenities including Pasir Ris Park and Downtown East shopping mall, while also being the first new EC in Pasir Ris since 2012.

In Closing

With new projects popping up all across the island, 2025 is looking to be buyers looking for private homes or ECs that suit their specific needs, budgets, and preferences. Whether it’s premium mixed-use developments in the heart of the city or cost-effective homes in suburban Singapore, there’s something for everyone.

To get one step closer to securing your dream home in 2025, be sure to reach out to an ERA Trusted Adviser today for help in navigating your property journey!

Disclaimer

This information is provided solely on a goodwill basis and does not relieve parties of their responsibility to verify the information from the relevant sources and/or seek appropriate advice from relevant professionals such as valuers, financial advisers, bankers and lawyers. For avoidance of doubt, ERA Realty Network and its salesperson accepts no responsibility for the accuracy, reliability and/or completeness of the information provided. Copyright in this publication is owned by ERA and this publication may not be reproduced or transmitted in any form or by any means, in whole or in part, without prior written approval. 

The Toa Payoh Lorong 1 GLS site that made headlines when it was awarded a year ago, and will be launched in 1Q 2025, as a condo called The Orie.

The new development will be built in place of an old police compound, which was an iconic structure that’s a key part of Toa Payoh’s rich and colourful history.

The town is one of the oldest estates in Singapore that frequently sees many high value public housing transactions. Despite this, private housing developments in this town are few and far between.

Here are five exciting facts about the estate of Toa Payoh that should convince you that buying a condo here is the right choice!

1. Few Condo Projects in Toa Payoh

If you look at the neighbourhoods of Toa Payoh, you will find that private housing developments in this town are few and far between.

We can count only four private condos: Trellis Towers, Oleander Towers, Trevista, and the Gem Residences with its location in the town of Toa Payoh. An upcoming development, The Orie will launch in early 2025 as the fifth condo in Toa Payoh.

The most recent Toa Payoh launch prior to The Orie is the 576-unit Gem Residences was launched in 2016.

Coincidentally, the site is also located right opposite Gem Residences. Based on a land parcel size of 15,743 square meter (sqm) and a plot ratio of 4.2, the Orie will offer some 777 housing units, making it the largest condominium development in Toa Payoh to date.

Larger condos have their benefits, such as a wider range of facilities, and higher resale transaction volume, which in turn drives prices. 

2. There is a strong HDB market ready to supply upgraders in the area

One of the most interesting things to consider when buying into a project in a high-demand, low-supply area like the Toa Payoh is the potential exit strategy.

Chart 1: Million-dollar flat transactions in Toa Payoh and Bishan (as of Nov 2024)

Source: data.gov.sg as of 4 Dec 2024, ERA Research and Market Intelligence

Firstly, there are many million-dollar flats being transacted in Toa Payoh, and the neighbouring city fringe town of Bishan. These two towns rank among the top 5 HDB towns for million-dollar flat transactions, with 104 and 71 respectively.

Unless drastic cooling measures come into play, this is a trend that is likely to stay in the future, especially as newer flats in these towns remain scarce.

With a short supply of private condo upgrade options in these towns, a new condo development in the area is likely to catch the eyes of some of these million-dollar flat upgraders!

Furthermore, the median resale prices of 4-room and 5-room flats in Toa Payoh are $800,000 and $920,000 respectively, putting prices across the board in the upper percentile of HDB prices islandwide.

Chart 2: Price ranges of HDB flats in Toa Payoh and Bishan (3-room and larger) up to 3Q 2024

Source: HDB as of 4 Dec 2024, ERA Research and Market Intelligence

The high resale price tags that these resale flats go for means that these homeowners will have the capability to upgrade to new condo developments in these areas that they have previously lived in.

3. Mature estate with lots of amenities

Toa Payoh is one of the oldest districts in Singapore, and the second satellite town to be developed by the HDB in the 1960’s.

A major benefit of staying in a mature estate is that they are well developed, and chock full of amenities. One of the best parts about staying in Toa Payoh is without a doubt, the makan available. Just look at the seven hawker centres that are dotted around the town!

1. Toa Payoh Lor 8 Market and Food Centre
2. Kim Keat Palm Market and Food Centre
3. Blk 75 Toa Payoh Lor 5 Market and Food Centre
4. Toa Payoh Vista Market
5. Toa Payoh Palm Spring Market
6. Toa Payoh West Market and Food Centre
7. Toa Payoh Hub

Image 1: Map of amenities located around condos in Toa Payoh

Source: OneMap, ERA Research and Market Intelligence

Alongside the great number of markets and food centres, Toa Payoh’s HDB estates are home to many shops and merchants, offering goods and services such as bakeries, supermarkets, sundries stores and more.

On the horizon is a new integrated development at the site of the old Toa Payoh Swimming Complex. The development will house a polyclinic, sports centre, and library – all directly connecting to the transport hub.

The upcoming integrated development will feature a polyclinic, sports centre, and library – all directly connecting to the transport hub.

This development is envisioned to be an extension of Toa Payoh Town Centre and a lifestyle destination with community facilities and space.

The development of amenities like this shows that despite being a mature estate, there is always room to modernise and improve upon the facilities in these estates and make better use of Singapore’s scarce land space!

4. Proximity to many good schools

Being within close proximity to well-known and reputable primary schools is a major consideration among those looking to purchase a property, particularly HDB upgraders who have (or plan to have) younger children.

There are four primary schools located within Toa Payoh. Some of these schools are well known for the holistic educational experience they provide their students, and for their academic and co-curricular activity performance.

CHIJ Toa Payoh (Primary) is a popular choice, especially among parents who were former alumni of convent schools. Trellis Towers, Oleander Towers, Trevista, and the upcoming Orie will fall within 1km priority enrolment distance of this school.

Pei Chun Public School is another popular primary school, having a strong multilingual focus in their academic program and producing strong national exam results. Gem Residences, Trevista, and the upcoming Orie will fall within 1km priority enrolment distance of this school.

 

Source: OneMap, ERA Research and Market Intelligence as of 4 Dec 2024.

First Toa Payoh Primary School has Gem Residences, Trevista, and upcoming The Orie listed within 1km, and Kheng Cheng School, noted for its strength in chinese performing arts has Gem Residences, Oleander Towers, Trellis Towers, Trevista and upcoming The Orie listed within 1km.

With the intricate feeder bus network in Toa Payoh, students can easily commute to any school within Toa Payoh. This extends to when they graduate and attend secondary schools in the town, such as Beatty Secondary School, Raffles Girls School and CHIJ Toa Payoh Secondary.

5. City fringe region with good connectivity

It comes without question that the connectivity and location of Toa Payoh is excellent, being a city fringe region, located in the RCR.

Image 4: Map of Toa Payoh’s MRT stations near condos

Source: OneMap, ERA Research and Market Intelligence as of 4 Dec 2024.

Residents of Toa Payoh will have access to two nearby MRT stations on the North South Line, Braddell and Toa Payoh. Toa Payoh MRT is also integrated with Toa Payoh hub, which features many dining options, shops and the bus interchange. With access to the North South Line, Toa Payoh is just 6 minutes from Orchard, and 13 minutes from Raffles Place MRT, two major interchanges in the City Centre.

Also providing accessibility options via the Circle Line and Thomson-East Coast Line is Caldecott MRT, located in Toa Payoh West. Caldecott is notably 10 minutes from the work nodes in Buona Vista and one-north.

Toa Payoh is also well connected via the PIE and CTE, for those who drive as their primary form of transportation.

In the coming years, a new interchange station will be opened at Ang Mo Kio, just 5 minutes away. This will comprise the new and upcoming Cross Island Line, further opening connectivity options to other regions of Singapore.

Disclaimer

This information is provided solely on a goodwill basis and does not relieve parties of their responsibility to verify the information from the relevant sources and/or seek appropriate advice from relevant professionals such as valuers, financial advisers, bankers and lawyers. For avoidance of doubt, ERA Realty Network and its salesperson accepts no responsibility for the accuracy, reliability and/or completeness of the information provided. Copyright in this publication is owned by ERA and this publication may not be reproduced or transmitted in any form or by any means, in whole or in part, without prior written approval. 

The 1H 2025 Government Land Sales (GLS) program saw an increase in the overall private home supply to 8,505 units, up from 8,140 units in 2H 2024. A total of ten sites were placed on the Confirmed List, comprising six private residential sites, one Commercial & Residential site, and three EC sites.

Collectively, the 1H 2025 GLS Confirmed List includes 5,030 private homes, comprising 980 Executive Condominium (EC) units, while the Reserve List will offer an additional 3,475 residential units. Overall, the private home supply slated for 1H 2025 fell marginally by 0.4% compared to 2H 2024 but remains 7.7% lower than the supply in 1H 2024.

“We believe the steady supply of private homes may help to address the recent pick-up in new home demand, giving homebuyers the overview of a strong pipeline of upcoming launches. Separately, the 1H 2025 GLS sites on the Confirmed List presents aplenty of land-banking opportunities for developers in established HDB estates that tend to attract strong interest from HDB upgraders.”

Chart 1: Residential GLS Sites (No. of Units)

Where are the promising sites?

We believe the Telok Blangah and Dunearn Road sites will present first-mover opportunities for developers of the upcoming new residential precincts.

The Dunearn Road site will be the first private residential development launched following the announcement of Bukit Timah Turf City’s redevelopment plans earlier this year. The private residential site is nestled among the first upcoming HDB flats in Bukit Timah, and we expect the future residents to benefit from ample amenities as the area undergoes transformation.

Kickstarting the Greater Southern Waterfront transformation is the launch of this Telok Blangah Road site, where the former Keppel Golf Course used to be. Like Bukit Timah Turf City, this site will be an exciting prospect due to its central location, as well as being new estates, offering first movers’ advantage.

Within walking distance of Telok Blangah MRT, residents would be able to conveniently access work nodes at one-north, Buona Vista and the National University of Singapore. HarbourFront station, one stop away will also offer an interchange option into the CBD in under 10 minutes. Not to mention, this is the largest site in this GLS launch, offering a large, 740 units in high rise towers with a 4.7 plot ratio.

Next would be the sites located just adjacent to MRT station which includes Hougang Central and Lakeside Drive. The Hougang Central is likely to be developed as an integrated development located just next to the Hougang MRT station, which will also be servicing the Cross Island line when it is completed by 2030. This is also the first launch in Hougang since 2011.

Similarly, the Lakeside Drive site is adjacent to the Lakeside MRT station, making it a choice residential location in the heart of the Jurong Lake District development.

The GLS site at Dorset Road is within the city centre, and can yield around 430 units. The area largely see boutique developments and could see the pent-up demand for larger residential projects. Furthermore, it is within walking distance of Farrer Park MRT, as well as within 1km of Farrer Park Primary School, we should see a fairly competitive bidding process for this site.

Lastly, the three EC sites at Senja Close, Woodlands Drive 17 and Sembawang Road will also be on the radar for developers. Both Senja Close and Woodlands Drive 17 were on the 2H 2024 Reserve List and have been shifted to the 1H 2025 Confirmed list.

Senja Close (EC) – 295 units

Initially announced under the Reserve List in 2H 2024’s GLS programme before being moved to the Confirmed List in the current round of GLS announcements, Senja Close is one of three sites designated for EC development.

Expected to yield approximately 295 units, the future EC project at Senja Close will join Blossom Residences, another EC in the area which was completed in 2014. Nearby amenities include Senja Hawker Centre and Jelapang LRT station, promising future residents some measure of convenience.

Developers may show moderate interest in Senja Close, given limited competition due to the scarcity of fresh EC supply in the immediate vicinity. However, the site’s fair, but uninspiring location may limit its appeal.

Woodlands Drive 17 (EC) – 420 units

Among the trio of EC sites announced in this round’s GLS programme, Woodlands Drive stands out for its remarkably better locational attributes compared to other EC offerings. Traditionally, ECs are located in less-prime areas relative to private developments, making them a more budget-friendly option in exchange for further distances from key amenities.

However, the future EC at Woodlands Drive will be situated between two prominent facilities in the North, namely Singapore Sports School and Woodlands Health Campus. Additionally, the site is conveniently close to Woodlands South MRT station, which enhances its connectivity to other locations on the Thomson-East Coast Line. Consequently, developers could be drawn to Woodlands Drive, owing to its uniqueness and strong potential.

Sembawang Road (EC) – 265 units

Adjoining a pair of landed residential enclaves, the Sembawang Road site is nestled between the intersection of Yishun Avenue 7 and its namesake road. This relatively distant location places it a good distance away from the nearest MRT station (Canberra Station), as well as other amenities such as Sembawang Shopping Centre and Canberra Plaza. Traveling along Sembawang Road, future residents will also have access to Chong Pang Market and Food Centre.

We expect to see a fair degree of interest from developers for this site, given the tight EC supply in the area, as the latest past EC projects in Canberra (e.g. Parc Canberra and Provence Residence) are already sold out.

Lakeside Drive – 575 units

This site at Lakeside Drive follows the launches of two private condo developments, the LakeGarden Residences and Sora. These launches were relatively well received, due to the large growth potential from the adjacent Jurong Lake District. Furthermore, it stands out in terms of location, as it is a shorter distance from the MRT and primary schools.

We expect competitive bids for this site, as it is a site in a HDB estate within walking distance from an MRT, and within 1km priority enrolment distance of Rulang and Lakeside Primary Schools. Projects like these are normally well received by HDB upgraders within the same, and nearby estates.

Dunearn Road – 370 units

As the pilot GLS plot from the former Bukit Timah Turf City site, this 370-unit project will be flanked by the various landed neighbourhoods of Bukit Timah. Future residents of this site will be served by the existing Sixth Avenue Downtown Line station and an upcoming Cross Island Line station. It is likely that the pricing and future development of the project will be that of a premium development, marketed for existing residents in the surrounding landed estates.

This site should draw the attention of bidders, who are likely to be drawn in by first movers’ advantage, following the attention drawn to the announcement of transformation plans of Bukit Timah Turf City earlier in the year.

Chuan Grove – 505 units

This GLS site at Chuan Grove will be part of the 1H 2025 GLS confirmed list, after its neighbouring site was announced as part of the confirmed list in 2H 2024. The site will see connectivity via nearby Lorong Chuan MRT, and priority enrolment to St. Gabriel’s Primary School. It should see strong upgrader interest from HDB owners at Bishan, Toa Payoh, and Serangoon, with strong rental potential due to its proximity to the nearby Australian International School.

The site, which can potentially yield 505 homes in high-rise tower blocks should see mixed interest, due to the presence of a neighbouring site with more units and an earlier completion timeline.

Upper Thomson Road (Parcel A) – 595 units

Adjacent to Parcel B, which tendered in 2H 2024, this Upper Thomson GLS site will be located next to Springleaf MRT, and its nearby landed estate.

Given that there is a lack of amenities, as well as a supply glut in this Upper Thomson and nearby Lentor area, we do not anticipate much bidding activity for this site.

Dorset Road – 430 units

This GLS site at Dorset Road is within close proximity of prime districts 9 & 10 in the city centre. It is also worth noting that it offers a potential 430 units, which is rare in the area, which mainly consists of smaller or boutique developments. Given its location, it is likely that the project will be developed as a more upscale project, catering to people who idealise a lifestyle in the heart of the city.

Given it strong locational attributes, being walking distance of Farrer Park MRT, as well as within 1km of Farrer Park Primary School and a large plot ratio, we should see a fairly competitive bidding process for this site.

Telok Blangah Road – 760 units

Kickstarting the Greater Southern Waterfront transformation is the launch of this Telok Blangah Road site, where the former Keppel Golf Course used to lie. Like Bukit TImah Turf City, this site will be an exciting prospect due to its central location, as well as being new estates, offering first movers’ advantage.

Within walking distance of Telok Blangah MRT, residents would be able to conveniently access work nodes at one-north, Buona Vista and the National University of Singapore. Harbourfront station, one stop away will also offer an interchange option into the CBD in under 10 minutes. Not to mention, this is the largest site in this GLS launch, offering a large, 740 units in high rise towers with a 4.7 plot ratio.

Given these factors, we can expect a competitive bidding process for this Telok Blangah GLS site.

Hougang Central – 835 units

Among the sites announced for the Confirmed List this round, Hougang Central stands out as the only one with a commercial component, positioning it as an integrated development with the potential for approximately 835 residential units to be built. The site is also adjacent to Hougang MRT station, which is slated to become an interchange station connecting both the North East and Cross Island lines.

Strong interest from developers is anticipated for this site, thanks to its attractive features and the likely pent-up demand for private housing in the area. The most recent site sold in the vicinity was Hougang Avenue 2 in 2010, which became Terrasse, making it over a decade since a GLS site was last tendered in the neighbourhood.

Disclaimer

This information is provided solely on a goodwill basis and does not relieve parties of their responsibility to verify the information from the relevant sources and/or seek appropriate advice from relevant professionals such as valuers, financial advisers, bankers and lawyers. For avoidance of doubt, ERA Realty Network and its salesperson accepts no responsibility for the accuracy, reliability and/or completeness of the information provided. Copyright in this publication is owned by ERA and this publication may not be reproduced or transmitted in any form or by any means, in whole or in part, without prior written approval. 

Keep scrolling, because we’ve done the math for you!

It’s often said that location is the most important factor when buying a new home. While that is almost always the gospel truth, price is undeniably the next-most crucial point of consideration for any aspiring homeowner.

Amidst the current market where prices for private properties are on the uptrend, it’s more important than ever to carefully evaluate what you’re able to afford. Naturally, this process warrants checking out the sticker prices for condos (both new and resale), however you’ll also need to account for other considerations – not least your current financial commitments, interest rates, and borrowing limits.

To paint a complete picture, we break down the key factors that’ll determine whether your household income can afford you a condo in 2024, be it from the primary or secondary market.

How much does a condo cost in Singapore today?

Before delving deeper into the numbers, it’s important to note that condo prices can differ significantly across Singapore. This variance hinges on a whole slew of factors: a condo’s size, its proximity to amenities (think schools, malls, and public transport hubs), and of course, a development’s age which will affect the balance lease.

That said, location – or more specifically, the region where a condo is situated – is one of the strongest indicators of how much it’ll cost.

Broadly-speaking, condos in the Core Central Region (CCR) tend to command a higher price than their similarly-sized counterparts in the Rest of Central Region (RCR) and Outside Central Region (OCR); this is mainly due to the proximity of CCR homes to the prime business district, which increases their appeal and market value.

Likewise, RCR properties usually come with a bigger price tag than those in the OCR, as they are more centralised compared to OCR homes.

So, with that in mind, here’s an overview of how much new and resale condos could cost in 2024, based on official median price data from the Urban Redevelopment Authority (URA):

Table 1: Median price of new and resale condominiums by region*

Region	Median Price (New Condo)	Median Price (Resale Condo)
Core Central Region	$1,999,000	$2,486,000
Rest of Central Region	$2,373,000	$1,710,000
Outside Central Region	$1,959,000	$1,400,000

Source: URA, ERA Research and Market Intelligence (*Based on URA data from Jul to Dec 2024)

Based on these figures—plus a few assumptions— you’ll get an approximate idea of whether one of these homes fits within your budget, given your current salary.

How much do you need to make to afford a condo purchase in Singapore?

With the latest prices listed above, determining the salary you’ll need to afford a condo would be a clear-cut process, right? But not quite.

Before diving into the numbers, it’s important to note that there are other considerations at play – and not just the price of your dream condo. For instance, condo buyers must consider the Total Debt Servicing Ratio (TDSR) and Loan-to-Value (LTV) ratio, which will certainly impact their affordability as well as the size of their downpayment.

Hence for simplicity’s sake, here are some assumptions that we’ll be using to guide our calculations and estimates:

1. The buyer(s) has no existing loan obligations, be it a mortgage, car loan or credit loan; this is so that they will be able to maximise the TDSR of 55% for their future home mortgage.
2. The buyer(s) will be taking up a bank loan with a tenure of 30 years, with interest calculated based on 3% per annuum.
3. The current stress test rate of 4% is applied when determining the maximum loan quantum.
4. Other home-related and/or miscellaneous costs are not factored into the calculation (e.g. stamp duties, legal fees, home renovation/furnishing costs).

Based on median price data of transactions in each region and the pointers above, here’s what you’ll need to earn to afford a new/resale condo in Singapore today…

Table 2a: Approx. income needed to afford a new condo in each Singapore region*

Region	Median Price (New Condo)	Corresponding Size (Sqft)	Approx. Household Income Needed	Approx. Monthly Repayment
Core Central Region	$1,999,000	700	$13,100	$7,200
Rest of Central Region	$2,373,000	904	$15,500	$8,500
Outside Central Region	$1,959,000	743 – 1,012	$12,800	$7,100

Source: URA, ERA Research and Market Intelligence (*Based on URA data from Jul to Dec 2024)

Table 2b: Approx. income needed to afford a resale condo in each Singapore region*

Region	Median Price (Resale Condo)	Corresponding Size (Sqft)	Approx. Household Income Needed	Approx. Monthly Repayment
Core Central Region	$2,486,000	1,281	$16,200	$8,900
Rest of Central Region	$1,710,000	764 – 969	$11,200	$6,200
Outside Central Region	$1,400,000	635 – 1,421	$9,200	$5,100

Source: URA, ERA Research and Market Intelligence (*Based on URA data from Jul to Dec 2024)

For a deeper dive, here are your options…

While the salary figures listed above are a useful starting point for condo buyers, they certainly don’t reflect the full diversity of costs and affordability for private homes in Singapore. To provide a more complete picture, here’s a breakdown of new and resale property prices across regions, paired with various salaries and home sizes.

Chart 1a: New and resale property prices in CCR by size and salary levels (Jul-Dec 2024)*

Chart 1b: New and resale property prices in RCR by size and salary levels (Jul-Dec 2024)*

Chart 1c: New and resale property prices in OCR by size and salary levels (Jul-Dec 2024)*

(*Estimates are based on assumptions of a stress test rate of 4%, interest rate of 3%, TDSR of 55%, LTV of 75%, and a 30-year mortgage loan tenure.)

For example, referencing the chart above, the most affordable new private home under 600 sq ft (i.e. a 2-bedder or smaller unit) in the OCR would cost at least $883,000, while the priciest could reach approximately $1.4M. Correspondingly, you would need an income of about $5,800 to cover the cost of the most affordable option, while the higher-priced unit would require a salary of around $9,200.

As for the RCR, a new private home sized between 600 and 899 sqft (typically a 2-room unit) would cost between $1.38M and $2.7M. This means buyers would need a monthly income of around $9,000 to afford a smaller unit in this range, and approximately $17,600 for a larger one.

Alternatively, if you’re looking to purchase a resale or sub-sale property in the CCR between 900 and 1,199 sqft (i.e. 2- to 3-bedder units), the corresponding price range would start at around $980,000 and could go up to approximately $3.5M. As a result, the salary range needed to afford these properties would be roughly between $6,400 to $23,000.

Salary aside, what else should you take note of when budgeting for a condo?

No doubt, price tags are certainly the top concern on any prospective condo buyer’s mind, but there’s more to the picture than meets the eye when it comes to determining affordability.

As with any property purchase, aspiring condo owners will want to consider their downpayment, which determines their upfront costs. Based on the current Loan-to-Value ratio, which stands at 75%, condo buyers will have to pay up to 25% of their new property’s price initially, of which 5% must be in cash.

The starting cash outlay for condo purchases also consists of stamp duties, such as the Buyer’s Stamp Duty which is computed based on progressive rates. The Additional Buyer’s Stamp Duty may also apply depending on whether buyers intend to purchase an additional private home on top of their existing non-HDB dwelling.

So, is it possible to afford a Singapore condo with your salary?

To put it simply, the answer is a firm “yes”. With proper financial planning and a clear understanding of your affordability range, purchasing a condo in Singapore is certainly an achievable dream.

However, if you aren’t a seasoned buyer, it’s best to seek professional advice to ensure your numbers are accurate and up to date. Once again, keep in mind that while the above estimates are a useful starting point, there are also other factors at play. For instance, fluctuations in loan interest rates or adjustments to debt thresholds (i.e. TDSR) will affect the amount you can secure for a home loan, and thus, the size or type of property you can afford.

Want to get a better idea of your buying power and explore your options for private homes? Be sure to reach out to an ERA Trusted Adviser today and start your journey to condo ownership on the right foot!

Disclaimer

This information is provided solely on a goodwill basis and does not relieve parties of their responsibility to verify the information from the relevant sources and/or seek appropriate advice from relevant professionals such as valuers, financial advisers, bankers and lawyers. For avoidance of doubt, ERA Realty Network and its salesperson accepts no responsibility for the accuracy, reliability and/or completeness of the information provided. Copyright in this publication is owned by ERA and this publication may not be reproduced or transmitted in any form or by any means, in whole or in part, without prior written approval. 

This article was brought to you in conjunction with Hoi Hup Realty and Sunway Developments, and ERA Property Megashow – the premier event for discovering valuable investment opportunities in Singapore.

Terra Hill is a small development with 270 housing units developed through a joint venture between Hoi Hup Realty and Sunway Developments.

The development is located on the incline of Yew Sian Road, with the entrance and the highest point of the development having a 20-metre difference. It has five storeys of residential blocks, with a good elevated view of surrounding infrastructures such as the Port of Singapore Authority (PSA) Pasir Panjang Port, other low-rise housing developments, and lush greenery from parks nearby.

Terra Hill is also the epicentre of several major business nodes, being less than 15 minutes away from these centres by car, which may appeal to professionals looking for a home within the vicinity of their workplaces.

 

Picture 1: Map of Terra Hill and Singapore’s Work Hubs

The development is served by the Circle Line, with Pasir Panjang MRT Station being an eight-minute walk away from Terra Hill. Residents will be connected to Harbourfront MRT and bus Interchange, Buona Vista MRT Interchange and the northern and eastern parts of Singapore through these interchanges.

By 2026, the Circle Line will be completed with three stations being built between Harbourfront and Marina bay MRT stations, closing the circle on the MRT line. This will increase connectivity to several major business nodes including the Central Business District.

Picture 2: Circle MRT Line

Source: Land Transport Authority, ERA Research and Market Intelligence

For residents who mainly drive, the West Coast Highway and the Ayer Rajah Expressway (AYE) are two major expressways that serve the area and connects residents to the rest of the island. A new road connecting South Buona Vista Road to Portsdown Avenue will be built to connect both expressways, making driving in the area easier.

Picture 3: New Road linking West Coast Highway to Ayer Rajah Expressway

Source: Hoi Hup Sunway, ERA Research and Market Intelligence

Sitting on the former site of Flynn Park Condominium, the new and improved condo development has a wider variety of unit types ranging from two bedroom to five-bedroom penthouses, with high quality facilities and installations from reputable brands such as De Dietrich, Gessi, Laufen, and Samsung.

Now, let’s delve into the three reasons why you should buy a Terra Hill property.

Reason 1: 270 exclusive freehold units

Freehold land in Singapore is already limited, and with the high demand for freehold housing from Singaporeans and foreigners, the 270 units in Terra Hill are rare and exclusive, being the one of the two latest freehold launches in the Rest of the Central Region (RCR). Residents will enjoy indefinite exclusivity and tranquillity within the estate. Additionally, properties surrounding Terra Hill include landed housing and other low-rise private developments, adding to the tranquil ambience.

Reason 2: Exit Strategy for owners (Greater Southern Waterfront Development)

As part of the URA Master Plan, the Greater Southern Waterfront will be transformed into a major gateway and location for urban living along Singapore’s southern coast. The waterfront will include over 9,000 new housing units, both public and private, more offices spaces, job opportunities, more entertainment and leisure options. This will be accomplished through the repurposing and revitalisation of current structures such as the Pasir Panjang Terminal. This waterfront precinct is six times the size of Marina Bay, and residents of Terra Hill will be able to see the transformation of the area over time from their homes.

Picture 4: Former Keppel Club site to be redeveloped into HDB flats

The construction of these HDB flats will provide a supply of potential future upgraders for owners of Terra Hill, adding another dynamic element to its existing exit strategy. They will have plenty of new public and private housing options to right size or upgrade to after the development of the Greater Southern Waterfront.

Reason 3: Freehold but has comparable prices to leasehold properties nearby

Given the rarity of freehold units in the RCR and Singapore, the price of units in Terra Hill are generally lower compared to other developments in its region, which make this a very affordable option for those looking for a freehold property in the city fringe.

Chart 1: New Sale Leasehold (99 LH) vs Freehold Properties in District 5 (D5)

Source: URA, ERA Research and Market Intelligence as of 19 Nov 2024

As the price gap between freehold properties and leasehold properties in the area is decreasing, buying Terra Hill would be a good deal since the price paid for this property would be similar to that of a leasehold property in the same area.

And this is not only seen for new sale properties, but also resale properties in D5. Although the average price of a resale freehold property is still more expensive compared to a leasehold property, it is more valuable to buy the freehold property since the prices are very similar, yet the tenures drastically differ.

This could be due to the freehold developments being generally older than the leasehold developments in the area, with Terra Hill being one of just two new launches in D5 in the past two years.

Chart 2: Resale Leasehold vs Freehold Properties in D5

Source: URA, ERA Research and Market Intelligence as of 19 Nov 2024

Here are the units available at Terra Hill.

Consisting predominantly of three-room apartments, Terra Hill’s target audience may likely be investors, young couples or retirees looking to right size from a bigger house. For those who wish to rent instead of buy, rental rates in D5 are comparable with the RCR, with the number of rental contracts in D5 seeing a general increase in the last five years. Expats who work in the city or in key nodes should definitely consider renting Terra Hill, given the comparable rates.

Table 1: Unit types available at Terra Hill

Source: ERAPro, ERA Research and Market Intelligence as at 19 Nov 2024

Chart 4: D5 vs RCR Median Rents

Source: URA, ERA Research and Market Intelligence as of 19 Nov 2024

Now, let’s take a look at some unit types Terra Hill has to offer.

Two Bedroom + Study Floorplan

Built in a “dumbbell” layout, the two-bedroom + study layout offers an open kitchen concept, which may help eliminate underused space within the house. The study is placed in a corner that opens to the living and dining area, offering some privacy. Similarly, the bedrooms are placed at opposite sides of the apartment which offer privacy to the occupants of each room. The apartments in this particular type of units (B3) also have a balcony, which other two-bedders in the development do not have.

Starting from $2,125,000, investors, Dual-Income-No-Kids (DINKs) or individuals looking to buy or rent a small space may be keen to purchase this type of unit.

Four Bedroom Floorplan

Under the prestige collection of units, which are limited to the four to five-bedroom penthouse residences, a private lift lobby will serve individual units, together with several other prestigious fittings in the units.

One other special thing about the four and five room units in Terra Hill is that they have both a dry and wet kitchen, which can help to keep the place organised. Unlike the two- and three-room apartments, the four-bedroom apartments are built in a “corridor” layout, where all the rooms are connected through a common corridor. The bedrooms are placed together at a corner of the apartment, with bathrooms nearer to the bedrooms to increase convenience to the occupants of the room.

Despite the smaller living space, this type if unit may appeal to larger families. These units are priced from $3,503,000.

Interested in learning about Terra Hill? Connect with an ERA Trusted Adviser today for more information.

Disclaimer

This information is provided solely on a goodwill basis and does not relieve parties of their responsibility to verify the information from the relevant sources and/or seek appropriate advice from relevant professionals such as valuers, financial advisers, bankers and lawyers. For avoidance of doubt, ERA Realty Network and its salesperson accepts no responsibility for the accuracy, reliability and/or completeness of the information provided. Copyright in this publication is owned by ERA and this publication may not be reproduced or transmitted in any form or by any means, in whole or in part, without prior written approval. 

This article was brought to you in conjunction with FRX Capital and ERA Property Megashow – the premier event for discovering valuable investment opportunities in Singapore.

How does the idea of living near a heritage tourist attraction, business hubs with Grade-A offices, and one of Singapore’s largest coastal redevelopment projects sound to you?

If your answer is “Great!” or anything similar, The Hillshore may just be the private residential project to tick all (or most) of the proverbial boxes for your ideal home.

Launched just this year by real estate investment firm and developer FRX Capital, The Hillshore is a boutique development sited at Pasir Panjang in District 5. This places it in close proximity to Haw Par Villa, various business nodes in Singapore’s city core, and perhaps most crucially, the Greater Southern Waterfront, which is part of a larger plan to revitalise “an entire stretch of 120 kilometres of prime waterfront coastline”.

As highlighted during Prime Minister Lawrence Wong’s maiden National Day Rally speech, this transformation will begin in “the West all the way to Pasir Panjang” (i.e., the Greater Southern Waterfront) before “stretching out to the East” where the future ‘Long Island’ is located.

These projects for Singapore’s southern coastline, along with other salient selling points, make The Hillshore a viable option for discerning buyers. So, here’s a ‘tour’ of everything that it has to offer.

Oh, but before that, did we also mention that The Hillshore is a freehold condo too?

Why does The Hillshore’s location offers great accessibility and potential?

1. The transformative potential of the Greater Southern Waterfront

First announced in 2013, The Greater Southern Waterfront will see the rise of a “new major gateway and location for Singapore’s southern coast”. As outlined by the Urban Redevelopment Authority (URA), this long-term plan will see a land mass “three times the size of Marina Bay” being revitalised with more residential options, offices, and recreational spaces.

With specific regards to housing, the biggest transformation along the Southern coastline is undoubtedly the influx of new homes. Over 9,000 HDB and private residences will be built, breathing new life into Bukit Timah.

Additionally, with the relocation of container terminals at Tanjong Pagar, Keppel, and Pulau Brani, as well as Pasir Panjang Terminal by 2027, this will result in an additional 1,000ha of land being freed up for further development. This change could lead to new waterfront residential precincts with lifestyle attractions being built, bolstering the prospects of future capital appreciation for nearby developments including The Hillshore.

2. Proximity to key business nodes in Singapore’s core city and its fringes

As its name suggests, The Hillshore is located near Singapore’s western shores, placing it directly within the boundaries of the Rest of Central Region (RCR) while also granting access to key commercial nodes surrounding its Pasir Panjang address.

For future owners, this locational attribute could translate into two positive outcomes: convenient access to locations with promising job opportunities, as well as a pool of potential renters keen on residing near their workplaces.

Towards the East of The Hillshore, the Alexandra precinct is where Mapletree Business City and mTower (a.k.a. the former PSA Building) are located. Also, with them are major corporations like Google, as well as Government entities such as Singapore’s Ministry of Transport and the Maritime and Port Authority of Singapore.

Likewise, future residents will find the Central Business District accessible, being just a 13-minute drive from The Hillshore. Needless to say, this proximity will make it easy for professionals to travel from their homes to their workplaces in Singapore’s city core.

Over the next two decades, residents at The Hillshore will also stand to benefit from the rise of the Jurong Lake District (JLD). Located 16 minutes away by car, the JLD is poised to become the nation’s largest business district outside of the city core, where flexi-use sites and business parks will be incorporated to form a one-stop commercial centre.

3. A well-connected address with convenient access to public transportation

Apart from the West Coast highway (12 minutes away) and Ayer Rajah Expressway (14 minutes away), which connect The Hillshore to the abovementioned business nodes, future residents will also get to experience convenient access to stops on the Circle Line (CCL).

Thanks to The Hillshore’s location, Haw Paw Villa station is just 500m from its doorstep, allowing residents to enjoy a short commute to key CCL stations like Harbourfront and one-north. In particular, one-north stands out as a destination for working professionals in the tech and R&D sectors due to it being a key science hub in Buona Vista.

Moreover, with the completion of the CCL’s final extension in 2026, the line’s loop will finally be closed, giving residents direct access to even more centrally-located stations, including Dhoby Ghaut and Bayfront.

4. Ample dining and recreational options in the vicinity

In terms of dining options, residents have the choice to explore Pasir Panjang Food Centre, a culinary haven offering a wide variety of local delights just a short walk from the MRT station sharing its namesake. They can also choose to venture to Seah Im Food Centre, a popular lunchtime and dinner spot for residents and workers in the Harbourfront area.

Nature-lovers, on the other hand, will come to appreciate The Hillshore’s proximity to Kent Ridge Park, Pasir Panjang Park and Labrador Nature Reserve. Most notably, a new 2.2km section of Pasir Panjang Park was opened just last year, giving visitors a continuous 17km walking/cycling route along Singapore’s West Coast extending all the way to Jurong Central Park.

5. Though The Hillshore is a boutique condo, it offers a mix of unit options

Among the new developments launched in District 5 between 2023 and 2024, only four have unsold units remaining as of the time of writing. In total, there are just 332 available units between them, with 56 units located at The Hillshore.

Hence, with fewer launches and the limited availability of units in District 5, The Hillshore could emerge as a standout option for condo buyers planning to live in Pasir Panjang – especially those who are interested in exploring different unit types and/or having more options to choose from within a development.

This appeal is further enhanced by The Hillshore’s freehold tenure; a characteristic shared only by one other recent new launch located in the Pasir Panjang subzone. Alongside new commercial and entertainment options brought forth by the Greater Southern Waterfront, this combination could pave the way for future price growth at The Hillshore.

What are the units at The Hillshore like?

Table 1: Unit types available at The Hillshore

Type	Size (sqft)	Starting Price*	Psf starting price*	Total no. of units
2-Bedroom	743	$1,855,000	$2,497	22
3-Bedroom	1,055 – 1,109	$2,628,000	$2,491	27
4-Bedroom (Dual Key)	1,475	$3,808,000	$2,582	3
4-Bedroom (Penthouse)	1,647 – 1,776	$3,968,000	$2,506	7

Source: ERAPro, ERA Research and Market Intelligence (*Data as of 24 Aug 2024)

With only just 59 units across two blocks of five-storey towers, The Hillshore is by definition a boutique development; these smaller-scale residences offer exclusivity and tranquillity, making them attractive options for either young couples, empty nesters/retirees, or even investors who prefer smaller units with higher rental yield.

These demographics are likely to align with the target market for The Hillshore, considering that its unit mix predominantly features two-bedder (22 units) and three-bedder (27 units) apartments, with a smaller number of upscale four-bedroom homes (10 units).

Here’s a closer ‘look’ at what some of The Hillshore’s units are like on the inside:

Two-bedroom units: Suitable for young couples

The Hillshore offers a choice of four two-bedroom unit options: standard two-bedders, premium two-bedders, and penthouse versions of both.

In particular, the Type A1 standard two-bedders may be a draw for young couples seeking a space-efficient, easy-to-upkeep home. With their dumbbell-shaped layout, these 743 sqft units eliminates dead space by having the junior and master bedrooms located on opposite sides of the apartment. In turn, this layout does away with the need for a long hallway, which prevents precious square footage from going to waste.

The Type A1 two-bedders at The Hillshore feature a dedicated kitchen as well, taking the place of hallway meal prep areas found in some two-bedders on the market. This practical inclusion ensures a separate space for food preparation, while also making low-maintenance less tedious by preventing cooking fumes from spreading into other zones.

Three-bedroom units: Suitable for families with children

Compared to their two-bedder counterparts, the Type B1 three-bedders (1,055 sqft) at The Hillshore come with an even greater range of indoor features, making them suitable for three-to-four-person households. These include an additional bedroom, a utility bathroom, as well as a balcony, which bring offer up even greater convenience and comfort.

Though Type B1 units at The Hillshore are missing the dumbbell layout of Type A1 two-bedders, the linear configuration and rectangular shape of their rooms opens up the possibility of creating a considerably more spacious communal zone.

With some renovation, it’s possible to merge the dining area and its neighbouring bedroom (if it isn’t occupied) to form a large, open-plan living area complete with an open-air balcony. However, if a separate space is desired, there’s always the option of transforming the spare bedroom into an amply-sized private study.

Four-bedroom units: Suitable for multi-generational families

Plausibly due to The Hillshore being a boutique development, its four-bedders are all higher-end offerings, with seven out of the ten units being penthouses, and the remaining three being dual-key units that allow for tenant accommodation. These four-bedders command price tags upwards of $3.8M, and possess various features expected of an upscale home able to house multi-generational families.

For starters, the Type B1 four-bedder penthouse units have a floor size of 1,701 sqft, making them at least 60% large.r than their three-bedroom counterparts.

The extra square footage primarily comes in the form of a junior master bedroom with its own attached bathroom, as well as an even larger master bedroom on the upper floor. The latter also comes complete with a walk-in wardrobe and a bathroom spacious enough to accommodate a his-and-her sink configuration.

In addition, a roof terrace adjoining the master bedroom serves as a private patio. Thanks to The Hillshore’s elevated position on a downwards slope, this feature gives occupants a bird eye’s view of the neighbourhood, as well as scenic views of Singapore’s western coast.

The Hillshore: A freehold opportunity offering an elevated living experience

Rooted in the legacy of the renowned Tong Eng Group, FRX Capital has established itself as a nascent real estate firm in Singapore, with a $350M portfolio in property investment and development projects locally and internationally.

Leveraging the extensive domain knowledge and expertise of its founders, FRX Capital is dedicated to offering quality investment opportunities for investors, while also creating valuable real estate assets for buyers. This ethos has culminated in The Hillshore – FRX Capital’s first-ever freehold condominium project, nestled within the serene neighbourhood of Pasir Panjang.

With its strategic location along the Greater Southern Waterfront and bespoke units that reflect comfort, luxury, as well as thoughtfulness, The Hillshore is a compelling choice for aspiring homeowners and discerning investors alike.

Interested in learning about The Hillshore? Connect with an ERA Trusted Adviser today for more information.

Disclaimer

This information is provided solely on a goodwill basis and does not relieve parties of their responsibility to verify the information from the relevant sources and/or seek appropriate advice from relevant professionals such as valuers, financial advisers, bankers and lawyers. For avoidance of doubt, ERA Realty Network and its salesperson accepts no responsibility for the accuracy, reliability and/or completeness of the information provided. Copyright in this publication is owned by ERA and this publication may not be reproduced or transmitted in any form or by any means, in whole or in part, without prior written approval. 

Pine Grove is a private residential estate located in the Ulu Pandan neighbourhood, in the Rest of Central Region (RCR) district 21. The estate was initially populated by landed houses, before condominiums started being built there in the 1970’s.

In 1977, Ridgewood Condominium was built next to the site of the Singapore American School, with Pandan Valley following in 1981. To this day, these condos are still popular and enjoy price growth, with resale prices of condos showing a 39% median price growth across the past decade.

One of the key reasons why homebuyers are drawn towards the Pine Grove estate is its exclusivity. Pine Grove is a low-density private enclave, and is elevated overlooking the surrounding greenery of Clementi Forest, and the low rise Holland Road estate.

What’s There in the Private Housing Market?

Pine Grove has been an established private housing estate for almost 50 years. Many of the condos there are getting old – in fact only 4 out of the 15 condos in the Pine Grove area have been launched after 2000.

Table 1 and Image 1: Condos around Pine Grove

Source: ERA Research and Market Intelligence

With no new launches in the area past 2013, the private property market in Ulu Pandan has seen lukewarm activity. This can be attributed to a variety of reasons, such as a reluctance/lack of urgency on the part of homeowners to sell their home, as they might encounter difficulty in finding a replacement home in the same area. This applies to both condo owners, as well as landed homeowners that might be looking to right-size.

A Tale of Two New Launches

However, in recent years, we saw the sale of two land parcels at Pine Grove, which is set to rejuvenate the quiet private housing market there, riding on the back of the HDB developments in nearby Ulu Pandan.

In 2022, Pine Grove GLS Parcel A saw a competitive bidding process which saw five developers particpating. Ultimately, it was awarded to a joint venture between UOL and Singapore Land Group who edged out the others by a razor-thin margin of $800 – talk about an exciting narrative!

Fast forward to a 2023 where the eventual project was launched as Pinetree Hill, a 520-unit high-rise condominium. As of October 2024, Pinetree Hill has sold about 72% of its units slightly a year after its launch.

In November, we can expect to see the launch of a second condominium at Pine Grove, named Nava Grove. The development will be built upon the Pine Grove Parcel B GLS site, which was awarded in late 2023 to a joint venture between Sinarmas Land and MCL Land. The highest of three bids placed on the site amounted to about $1,223 psf ppr, about 7.2% lower than that of Pine Grove Parcel A.

So, what makes this pair of projects worth talking about?

Fantastic RCR Location

Both of them sit in D21 in the RCR, but if you take out your pencils and rulers, and start to draw out the planning region boundaries, you would find that they sit literally one road away from the prestigious Core Central Region (CCR).

The estate is also located near great amenities in the nearby areas of Ghim Moh, which has a market and food centre, as well as Holland Village, with shops, a mall, and food centres.

Image 2: Location of Pinetree Hill and Nava Grove

This means that the projects essentially benefit from a CCR location, at an RCR price tag. The Pan Island (PIE) and Ayer Rajah (AYE) Expressways are located 5 minutes away, which connects residents to various commercial and industrial hubs across the country.

The AYE provides a 15-minute drive to the Central Business District, while the Orchard Road district is also accessible via a direct route down Holland Road, reachable in 10-12 minutes.

One-north, another major business district is less than 10 minutes away – one of the most attractive qualities of the development’s location.

Proximity to Henry Park Primary School

Both developments will be situated in 2km of Henry Park Primary School, one of the most prestigious and well-known primary schools in Singapore. It is widely known that families will intentionally move to the Pine Grove, Ghim Moh, and Holland Road neighbourhoods to live near this school.

Being located within a short distance of these schools makes these two projects attractive, a characteristic that is likely to translate well in the resale market.

Attractive Entry Prices and Good Potential Price Growth

The pricing of these two projects is generally safe, compared to other recent RCR projects.

Chart 1: Price ($psf) comparison of new projects in various RCR regions

Source: URA as of 16 Oct 2024, ERA Research and Market Intelligence

The closest comparison on the market currently would be 8@BT, also within D21 in the RCR. Since its launch in late September, 8@BT has transacted at a median price of $2,737psf, compared to Pinetree Hill which has transacted at a median price of $2,453psf since its launch.

Nearby HDB Developments

In 2022, the HDB had announced a plan to develop three housing projects, totalling around 3,000 BTO flats to further develop and rejuvenate the areas surrounding Dover MRT.

These developments will take place directly south of the Pine Grove neighbourhood, and create additional amenities not too far away that residents can enjoy.

Image 3: HDB developments nearby at Dover

In addition to this, after these BTO flats complete their minimum occupation period, their homeowners could look to upgrade and live in the Pine Grove estate. With Pinetree Hill and Nava Grove being the newest projects on the market, and in the vicinity of Henry Park Primary School, these HDB upgraders could be a valuable exit strategy.

With these two projects standing side-by-side, what are the differences between the projects, and more importantly – which should you choose?

Completion Timeframe

With Pinetree Hill launching earlier than Nava Grove, it is highly likely that the project will meet TOP and be completed earlier, allowing you to move in to your new home faster.

Pinetree Hill has an expected TOP in 2027, while Nava Grove has an expected TOP in 2028 – although anticipated completion could fall earlier.

Harmonisation of Gross Floor Area (GFA)

Another key difference between the two projects would be how the harmonisation of GFA affects their pricing and unit layouts. Nava Grove, tendered after the GFA harmonisation would see higher prices per square foot, and will feature more efficient designs.

At the end of the day, whichever your choice might be, there isn’t really a wrong move buying into an established RCR estate like Pine Grove.

Whether your reason to buy your property is for own-stay or investment, the coveted RCR location combined with the development of the surrounding estate and make prospects look promising.

Disclaimer

This information is provided solely on a goodwill basis and does not relieve parties of their responsibility to verify the information from the relevant sources and/or seek appropriate advice from relevant professionals such as valuers, financial advisers, bankers and lawyers. For avoidance of doubt, ERA Realty Network and its salesperson accepts no responsibility for the accuracy, reliability and/or completeness of the information provided. Copyright in this publication is owned by ERA and this publication may not be reproduced or transmitted in any form or by any means, in whole or in part, without prior written approval. 

Singapore’s Central Area was actually one of the first few areas where homes were introduced. In the 1970s, HDB mixed-use developments such as Tanjong Pagar Plaza, Bras Basah Complex and People’s Park (Chinatown). Later, more HDBs were added including those at Everton Park and most recently, Pinnacle@Duxton (completed in 2009). These places were highly sought after due to their central locations, and had amenities to serve the residents’ needs.

However, over the past two decades, Singapore’s Central Business District (CBD) has evolved from a primarily office-focused area into a more livable space. Initially, it was home to large offices, the CBD was only alive between 9 to 6 on weekdays.

Recently, the CBD has seen a shift toward residential and mixed-use developments. The Urban Redevelopment Authority (URA), through its 2014 and 2019 Masterplans and the 2019 CBD Incentive Scheme, has introduced more parks, community spaces, and homes. Developers are encouraged to convert older office buildings to mixed-use developments to inject a larger live-in population. This initiative aims to build a larger residential population and diversify amenities in the CBD, offering developers bonus gross floor area as an incentive.

“We can make our CBD not just a place to work, but also an attractive and vibrant place to live and play.” – Lawrence Wong, 2019

Today, our CBD is a much more vibrant space, offering a day-to-night environment. It continues to attract weekend crowds for various reasons—for food, exercise, or shops featuring curated activities and workshops. The wider streets are pedestrian-friendly, lined with cafes, al-fresco dining options, and convenience stores, some with adjacent cycling paths and park connectors. Public squares and gardens contribute to placemaking efforts and foster more interactions.

Nightlife culture is also thriving in the CBD, with bars and restaurants catering to the working crowd and weekend revellers. The foreign tenants and short-term travellers seeking accommodations in these centrally located areas adds to the vibrancy, offering a unique atmosphere and experience.

“You can’t be more centrally located than being located in the centre”

Location is the keyword when one talks about real estate. Usually, properties located near city centres are the most valuable, because it comes with amenities and activities.

Therefore, Build-To-Order (BTO) HDB flats in these prime locations in and around the CBD are over-subscribed. Resale flats in the Central Area still sees high demand despite shorter remaining leases (less than 60 years). This is a testament that Singaporeans desire to live in the CBD.

Why so? Because for those working in or around the CBD, living there makes the most sense. Residents enjoy the quick commutes, saving valuable time. Wouldn’t you want to live within walking distance of your workplace? Some buildings in the CBD even offer bicycle parking and end-of-trip facilities.

Additionally, residing in the heart of Singapore makes it easier to access other parts of the island. The CBD boasts 13 MRT stations across all six lines, providing excellent connectivity to virtually anywhere.

“People talk about wanting amenities – downtown is the amenity.”

Imagine this: after a long day of work in Tanjong Pagar, you take a short 10-minute walk home and stop by a supermarket for a quick grocery run before picking up your child from preschool. On the way home, you decide between a bike ride to Gardens by the Bay, a boxing class at the gym across the road, or unwinding at one of the bars beneath your condo. On remote workdays, you visit your regular coffee joint for a quick breakfast followed by a couple of productive hours there. Do you see yourself having this lifestyle?

Beyond the convenience from the location, residents of the CBD actually enjoy the lifestyle of having everything around you. From food options to amenities to green spaces, places of worship and leisure spots, most things can be found within walking distance away.

While remote work may make it seem like city living is no longer relevant, hybrid employees may find it more productive to work in third places in CBDs such as cafes and coworking spaces.

Amenities

Many believe the CBD lacks amenities for residents, but on the contrary, it offers a wide range of options. Fitness enthusiasts have access to numerous gyms, including specialized ones for climbing, martial arts, yoga, and even quick 30-minute lunchtime workouts. For those seeking a break from the urban environment, parks like Pearl’s Hill City Park, Fort Canning Park, and Gardens by the Bay provide nearby green spaces for jogging or cycling after work.

Everyday needs are well-served by malls such as Icon Village, 100 AM, Tanjong Pagar Plaza, and Chinatown Point, offering supermarkets, clinics, pharmacies, and personal care services. Families with young children benefit from the many childcare centers and preschools in areas like Tanjong Pagar, Telok Ayer, Clarke Quay, and Marina Bay.

Newer CBD developments also feature public spaces designed for community activities. Examples include Guoco Tower’s Urban Park, Capitaspring’s sky garden, and IOI Central Boulevard Towers’ Central Green garden that enhances livability.

 

Aplenty of Food Options

In the past, food places in the CBD are only open till lunch time on weekdays. Today, you find that they are widely available, catering to every budget and occasion. Whether you are just looking for daily sustenance, a leisurely weekend brunch or want to have a nice meal out for a celebration, there is something for everyone. A common misconception is that food is costly in the CBD. While that holds true for some of the classiest restaurants or hip and trendy bars, there are actually eight NEA-run hawker centres inS the CBD. They provide affordable food and drink options.

Moreover, regardless of what cuisine you are looking for, you can probably find it there. Coffee houses and bars are also scattered around and are widely available.

While city living offers plenty, it may not be for everyone

With all these desirable attributes, does living in the city still make sense for everyone? Definitely not. It still lacks schools for families with school-going children. Cantonment Primary School is the only one in the CBD, along with few enrichment centres.

Furthermore, those working in the CBD may not necessarily want to live there. It can be difficult to disconnect from work during time off. Some may be put off by the weekday crowds, with too much ‘buzz’ and ‘commotion’ around. Others might find the demographics and community in the CBD unsuitable, as it is largely made up of expats, tenants, and leisure travellers. As a result, residents may not feel as connected, and the community may not be as close-knit.

City living also comes with higher cost of living. With higher rents in the city centre, food and services are likely to cost more compared to suburban areas.

While CBD living caters to many, there is still a lack of stock in the market. Currently, there are only 12,957 private residential units in the CBD. This amounts to just 3.8% of all homes island-wide, or just slightly above the entire District 20 (Ang Mo Kio, Bishan, Thomson). The lack of homes could be turning aspiring CBD homeowners away as they seek to find their dream home.

Shifting the focus (and homes) back to the city centre

Over the years, the success of URA’s decentralisation strategy coupled with the improved public transport network and more comprehensive amenities, have driven people to stay further outskirt.

Singaporeans are also hesitant to live in the CBD with the lack of housing options that has driven home prices higher. However, the allure of living in city centre remains given its convenience.

More importantly, the idea of living in the CBD is not a new one. It was simply set aside as Singapore focused on developing its financial hub.  With URA’s push for to transform the CBD into a work-live-play location, more homes have been progressively been planned for the CBD and we may see more Singaporeans returning to live in the city centre in time to come.

 

Disclaimer

This information is provided solely on a goodwill basis and does not relieve parties of their responsibility to verify the information from the relevant sources and/or seek appropriate advice from relevant professionals such as valuers, financial advisers, bankers and lawyers. For avoidance of doubt, ERA Realty Network and its salesperson accepts no responsibility for the accuracy, reliability and/or completeness of the information provided. Copyright in this publication is owned by ERA and this publication may not be reproduced or transmitted in any form or by any means, in whole or in part, without prior written approval. 

 

Slightly more than a decade ago, the Urban Redevelopment Authority (URA) released its Draft Master Plan 2013, revealing the then-current blueprint that would guide Singapore’s land use over the next 10 to 15 years.

Within it, several projects were outlined to further anchor Woodlands’ status as an up-and-coming regional hub. This entailed fully transforming the Northern town into a vibrant residential and commercial district, not unlike its contemporaries in the East and West, Tampines and Jurong.

Subsequently, when the curtains were pulled back for URA Master Plan 2014, several exciting projects were confirmed for Woodlands. The core developments include Woodlands Regional Centre, Woodlands Health Campus, as well as new stations on the Thomson-East Coast line.

Ten years on, how have these projects unfolded to shape Woodlands’ identity as a “star destination of the North”?

Woodlands Regional Centre

As part of bigger plans to pair quality living with career opportunities in the North, Woodlands Regional Centre will serve as a cornerstone for the zone’s development. Doing so sets the stage for Woodlands’ emergence as a key location for fostering closer business links with neighbouring Malaysia, as well as the rest of the ASEAN region.

In large part, the decision to make Woodlands Regional Centre a reality is driven by its strategic position near the Johor-Singapore Causeway, granting it the potential to be developed into a vital economic gateway accompanied by housing opportunities in neighbouring areas.

First announced by then-Minister for National Development Khaw Boon Wan, Woodlands Regional Centre is collectively comprised of 100ha of developable land sub-divided into two precincts: Woodlands Central and Woodlands North Coast.

Woodlands Central– A Thriving Community and Business Node

Envisioned as a new lifestyle and commercial hub, Woodlands Central is slated to house a range of office spaces, retail malls, entertainment options, and residential developments.

The precinct’s 30ha teardrop-shaped site also encompasses existing key destinations in the neighbourhood. These include Causeway Point shopping centre, Woodlands Civic Centre, as well as Woodlands MRT station.

To support the residential needs of future residents, Woodlands Central was also announced in 2017 to be one of three towns to receive an injection of new HDB flats. As part of the third phase of the ‘Remaking Our Heartland’ (ROH) programme, Woodlands will see 10,000 new units built at developments sited near Woodlands Central and Woodlands North Coast.

Woodlands North Coast – Housing Precinct and Economic Hub by the Waterfront

Woodlands North Coast, on the other hand, spans across a larger 70ha plot located further up of Woodlands Central, putting it in close proximity to Republic Polytechnic, and more crucially, the Woodlands waterfront. This location positions it as a gateway to Malaysia, while also setting the stage for future coastal residential projects in the neighbourhood.

In 2013, plans for the North Coast Innovation Corridor (NCIC) were announced as well. Stretching from Woodlands to Punggol, this planned commercial belt will see Woodlands Regional Centre coming to the fore as Singapore’s primary business park cluster in the North with the potential to provide as many as 100,000 new jobs upon its completion.

What’s happening at Woodlands Regional Centre presently?

At present, plans to rejuvenate Woodlands Regional Centre are well underway, with several key milestones from its Master Plan already successfully met during the intervening years since it was initially announced in 2014.

Woodlands Central: New office spaces and homes for residents

In 2020, Woodlands witnessed the opening of Woods Square, its first mixed-use development featuring Grade A office spaces. Jointly developed by Far East Organisation, Far East Orchard, and Sekisui House, Woods Square comprises four commercial towers with a total of 494 office units and 39 retail units.

Apart from providing businesses a viable location for setting up branch offices in North Singapore, Woods Square’s debut also complements the Government’s aim to decentralise employment centres by bringing employment opportunities and office amenities closer to suburban towns away from the city core.

Relating to this objective, two Build-to-Order (BTO) projects have already been launched in the Woodlands Central precinct: UrbanVille @ Woodlands (1,785 units) and Urban Rise @ Woodlands (848 units). UrbanVille was introduced during August 2020’s BTO exercise and is expected to be completed by 2026. On the other hand, Urban Rise, launched in December 2023, is slated for completion in 2028.

Woodlands North Coast: Fresh opportunities and infrastructure for businesses

Though it may be some time before Woodlands North sees BTO flats of its own along the country’s northern coastline, the area has experienced growth in other areas, particularly in its industrial capabilities. This progress will contribute to the NCIC’s goal of transforming Singapore’s northern coast into a vibrant commercial hub brimming with new technologies and ideas.

Industrial projects completed by Jurong Town Corporation (JTC) thus far, such as 1 North Coast and 7 North Coast, represent a progressive step forward to realising this vision.

Both developments offer unique advantages for Singapore businesses; while 1 North Coast’s flexible zoning of 30-70% allows for both manufacturing and non-industrial functions to be housed under the same roof, 7 North Coast is optimised to serve as a strategic hub for industrialists operating locally and regionally.

Thus far, notable companies with a presence at Woodlands North Coast include Micron, a semiconductor giant with global reach, and Illumina, a biotechnology firm and manufacturer of DNA sequencing machine technology.

Woodlands Health Campus: A dedicated healthcare complex in the North

In addition to the developments mentioned above, 2014 also marked the announcement of the Woodlands Health Campus—the town’s first-ever public hospital to be constructed on a 7.7ha site near the then-upcoming Woodlands South MRT station.

Plans were laid out for Woodlands Health’s creation to address the healthcare needs for the North Region’s growing population, with a focus on providing access to acute, community, and elderly care services.

Close to a decade later, Woodlands Health welcomed its first patients in December last year. Though only specialist outpatient clinics and a limited number of community hospital beds were made available during the first phase of its opening, the hospital has since fully opened the rest of its facilities as of May 2024, ranging from critical care units to a healing ‘Parkland’ designed in collaboration with the National Parks Board.

Thanks to its interconnected medical spaces, Woodlands Health is able to implement an innovative care model. Such an approach enables patients to access a full spectrum of health services—including medical examinations and rehabilitation—without needing to visit different hospitals for follow-up treatments.

In total, Woodlands Health houses 1,000 acute and community beds, along with nearly 400 beds in its long-term care tower. The hospital’s infrastructure allows it to expand its capacity to up to 1,800 beds in response to future demand and/or bed crunches as well.

Improved transportation links: North-South Corridor and Thomson-East Coast MRT Line

Beyond the improved precincts and healthcare facilities, URA’s Master Plan 2014 envisioned Woodlands as a well-connected regional hub following the development of two key transportation projects: the Thomson-East Coast Line and the North-South Corridor.

A key component in enhancing Woodlands’ transportation network, the Thomson-East Coast Line (TEL) will introduce three new MRT stations: Woodlands North, Woodlands (TEL extension), and Woodlands South.

As of January 2020, all of the abovementioned stations are open to the public. Collectively, these new stops provide end-to-end train connectivity for the entirety of the Woodlands Regional Centre, while also giving residents a new direct route from their homes to the heart of Singapore’s downtown business core.

Similarly, the North-South Corridor (NSC) is set to enhance multi-transport access, offering not just an improved vehicular route, but also a smoother commute for cyclists and pedestrians traveling downwards from the upper reaches of Singapore.

Initially envisioned as the North-South Expressway in 2011, this 21.5km vehicular route was re-designed into its current form comprising a viaduct, a tunnel, as well as ground-level streets. Doing so would allow more space to be allocated towards pedestrian corridors, including footpaths, cycling routes, priority lanes for public transport, and even green community spaces.

At present, the NSC is still under construction and it is slated to open in phases starting from 2027, with the viaduct from Admiralty Road West to Lentor Avenue being the first section to become operational.

Once it’s fully completed, the NSC will streamline travel to and from the city, thus relieving road congestion and improving commute times for residents living in towns situated along Singapore’s North-South transport spine—Woodlands included.

What’s next for Woodlands?

Beyond the projects outlined in past and present Master plans, further developments are on the horizon for Woodlands and its surrounding areas.

For starters, the upcoming Johor Bahru-Singapore Rapid Transit System (RTS) will aid cross-border travel by offering a fast and efficient alternative to the Causeway by end-2026. This new Light Rail Transit (LRT) system connects Woodlands North Station to Johor’s Bukit Chagar Station, and is capable of accommodating up to 10,000 commuters per hour in each direction during peak travel periods.

In 2025, works to expand Woodlands Checkpoint to five times its current size will also commence, bringing it from 19ha to 95ha with redeveloped infrastructure at the Old Woodlands Town Centre. The future extension is set to become fully operational by 2032, contributing to faster customs clearance times, while relieving congestion from high traffic volumes.

Viewed collectively with ongoing Master Plan initiatives, these projects will strengthen Woodlands’ position as the North’s primary regional centre, hence potentially spurring property growth in the area as well.

While Woodlands currently has one of the lowest inventories of non-landed private homes (excluding executive condominiums) among the various planning areas in Singapore as of 2Q 2024, the upcoming launch of Norwood Grand, a 348-unit, 99-year leasehold development, is set to provide a timely injection of brand-new stock in the area.

As such, homebuyers, particularly those keen on a private condo, may find Woodlands appealing as a promising location.

With additional private and public housing, new infrastructure, and transportation upgrades on the horizon, Woodlands is poised for future growth and development in more ways than one.

Not only do these projects aid in unlocking Woodlands’ potential as a highly desirable town for residents, they’ll also set the stage for its eventual transformation into a dynamic industrial hub – one where businesses are able to expand their operations, both within and beyond Singapore’s borders.

Disclaimer

This information is provided solely on a goodwill basis and does not relieve parties of their responsibility to verify the information from the relevant sources and/or seek appropriate advice from relevant professionals such as valuers, financial advisers, bankers and lawyers. For avoidance of doubt, ERA Realty Network and its salesperson accepts no responsibility for the accuracy, reliability and/or completeness of the information provided. Copyright in this publication is owned by ERA and this publication may not be reproduced or transmitted in any form or by any means, in whole or in part, without prior written approval. 

A new MRT line always brings about hype and conversation. Truer words cannot be spoken for the colourful District 15, which has been patiently waiting for MRT access for decades.

District 15, consisting of the East-Coast and Marine Parade residential estates, has a rich and prolific history. From the mid-19^th century, the Katong precinct was occupied by the wealthy Peranakan community, a historical fact preserved in the colourful heritage shophouses that line the streets of Joo Chiat, Tanjong Katong and East Coast Road today.

Following land reclamation efforts in Singapore’s developing years, the 1970’s saw HDB projects sprouting in the area known as Marine Parade. Over the years, the district and its estates have seen continued development, with condominium projects being built, rounding off housing options and establishing the Marine Parade area and District 15 as a mature estate.

“Nice Area, Poor Connectivity”

Historically, if you asked most people who stayed in the East what they thought of their neighbourhood, you would hear responses like “Nice area, but no MRT” or “Close to town lah… by bus”.

Since the inception of its first housing projects in the 1970’s, Marine Parade and much of District 15 has been served solely by bus services. Due to the time needed for the reclaimed land to settle, tunnelling works for MRT construction could not be attempted until the land was deemed ready.

As a result, residents of District 15 waited patiently and watched in envy as the rest of Singapore, mature and non-mature estates alike received infrastructure upgrades through the development of the different MRT lines across the years.

Demand for Homes in the East

However, despite the lack of MRT access, which is a major concern and criteria for most homebuyers, District 15 has seen considerable growth and demand across the years.

According to ERA’s ‘My Dream Home’ survey conducted in 2024 that received over 1700 responses, 30% of condo buyers stated their preference of living in the city fringe, while a further 20% stated their preference for living in the East region of Singapore.

D15 is uniquely positioned, with sections within the Rest of Central Region that allow it to serve as a gateway in the East to Singapore’s central core. Its city fringe location means that those commuting to the downtown core of Singapore can do so within just 10-15 minutes.

Additionally, District 15 has a characteristic charm stemming from the amalgamation of low-rise shophouses full of watering holes and eateries with high-rise developments overlooking the East Coast.

The Thomson East-Coast Line Has (Finally) Arrives in the East Coast

Announced in 2014, the Thomson-East Coast Line (TEL) is a merger of the previously planned and distinct Thomson (TSL) and Eastern Region (ERL) lines.

Source: LTA

This garnered much attention as long-time residents of D15 have always expressed the district’s need for MRT access. This MRT access would make it easier for residents to get to the various schools and amenities across the district. It would also make property in the area more attractive if these future MRT stations were built within walking distance of housing.

After a decade of construction and waiting, and one global pandemic later, the TEL’s East-Coast stations finally opened their doors to the public in June 2024, breathing new life into D15.

Increased Connectivity for Students and Teachers

The introduction of the TEL creates much-needed connectivity for the schools in the area. District 15 is home to several reputable schools across the various educational levels in Singapore.

However, some of these schools, especially those along Marine Parade Road and their surrounding neighbourhoods have traditionally only been accessible by bus – either from the various neighbourhoods across the district, or from the nearest (if you can call it that) MRT stations such as Dakota or Mountbatten.

If you have ever taken one of the bus services that service the area in the morning, you would have a clear idea of the number of students that rely on them for their commute.

Source: OneMap.gov.sg, ERA Research and Market Intelligence

With the opening of the East-Coast segment of the TEL, the reliance on buses will be heavily reduced, with most of the schools being within a short walking distance of one of the stations.

Access to Amenities

The opening of the TEL also makes it easy for those staying in D15 to access all the amenities the district has to offer. This allows people staying in the various private residential enclaves (i.e. Siglap, Meyer Road and Amber Road) to access the various hubs and town centres in D15.

These hubs include the town centres located in the HDB estates of Marine Parade, which is home to Parkway Parade and Marine Parade Central, which includes a market, food centre and a multitude of HDB shophouses packed with various stores catered to the residents of the neighbourhood.

Other areas that have been made more accessible through the opening of the TEL are Joo Chiat and Katong, which are home to rows and blocks of heritage shophouses offering retail, dining, and various services. Along this stretch also lies various shopping malls, such as Roxy Square, Katong V, and i12 Katong to name a few, which were previously only accessible by bus.

With easy access via MRT, those living in D15 can now have their travel times cut short should they need to run any errands or participate in any activities in these hub areas. Examples would include buying groceries, or students travelling to tuition centres.

If they so wish, residents living in D15 can also find entertainment or recreational options at destinations, such as Singapore Sports Hub at Kallang and even Marina Bay Sands, which is accessible by Marina Bay MRT on the TEL.

Expedited Downtown Travel Times

The opening of the TEL opens up faster travel times and a much more straightforward route to the central region for the daily commuter. Traditionally to reach the city centre by MRT, you would have to take a bus service to Dakota, Paya Lebar, or Bedok MRT station – largely negating the benefit of distance D15 has to central Singapore.

With the opening of TEL stations, travel to the city is largely expedited. New stations, such as Marine Parade, Tanjong Katong, and Katong Park are 3 to 5 stops (or 12 minutes and under) away from Marina Bay MRT at the heart of the CBD. This is a definite plus for daily commuters to the city centre as they stand to benefit most from the shortened and more predictable travel times.

Will We See Greater Demand for Homes in D15 in the Future?

In essence: yes.

Many homebuyers have already expressed their clear interest in city fringe homes – particularly the East – which makes D15 the perfect candidate for them.

D15 is rich in heritage, with many aspects of straits and colonial era Singapore imbued deep within its DNA. There are also HDB towns that have over time blossomed into mature estates, being packed full of amenities and conveniences that most Singaporeans desire.

With many good schools in the area across various education levels, D15 is seen as one of the best places to own a familial home.

In the past few years, there have also been many new launches in D15, ranging from boutique projects to mega-developments. The wide range of new homes available on the market ensures that every homebuyer has options available to them, depending on their needs.

Table 1: New Projects Available in D15

Project Name	Address	Tenure	Total no of units	Available units	Remarks
Meyer Blue	Meyer Blue	FH	226	226	Launching 4Q 2024
Emerald of Katong	Jalan Tembusu	99y LH	846	846	Launching 4Q 2024
Straits at Joo Chiat	Joo Chiat Place	FH	16	9
Ardor Residence	Haig Road	FH	35	3
Grand Dunman	Dunman Road	99y LH	1008	301
The Continuum	Thiam Siew Avenue	FH	816	424
Tembusu Grand	Jalan Tembusu	99y LH	638	157
Claydence	Still Road	FH	28	2
K Suites	Lor K Telok Kurau	FH	19	10
Atlassia	Joo Chiat Place	FH	39	4

Source: ERAPro as of 16 Sep 2024

With the TEL opening up new conveniences and opportunities, both new and resale homes are expected to grow competitively in prices.

If you are interested in purchasing a home in D15 – new or resale, feel free to get in touch with an ERA Trusted Advisor today!

 

Disclaimer

This information is provided solely on a goodwill basis and does not relieve parties of their responsibility to verify the information from the relevant sources and/or seek appropriate advice from relevant professionals such as valuers, financial advisers, bankers and lawyers. For avoidance of doubt, ERA Realty Network and its salesperson accepts no responsibility for the accuracy, reliability and/or completeness of the information provided. Copyright in this publication is owned by ERA and this publication may not be reproduced or transmitted in any form or by any means, in whole or in part, without prior written approval.