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In picking your perfect home, comfort is one of that factors to take into consideration. Treasure at Tampines is an ideal option because it is situated in Tampines heartland that lets you’ve access to all facilities like the NTUC Supermarket. With the Tampines Retail Park, Courts, Giant and IKEA, Tampines has became popular. Now you have option to whether purchase furnitures at Courts, try amazing foods from IKEA or get fresh fruits and vegetables from Giant.
Besides being near to Tampines, Treasure at Tampines showflat is also Ten minutes away from Simei MRT. Eastpoint Mall is near to the Simei MRT and is located right at the center and heart of Simei Estate. NTUC income co-operative now owns it after a huge transformation and now stands 6 storey high and Frasers Centrepoint is the one who manages it. Vibrant mall with 100 shops can be found here and it’s conveniently accessible by any means of transport. Enrichment centres and a nautical themed play area at the rooftop are a few attractions where your kids would love at the Eastpoint mall.
Not forgetting the Tampines Regional Library, a 5 storey building which offers a wide space for students where they could read and study, and also events being planned. In the future, there are indoor kitchens accessible in the Tampines Regional Library for the cooking classes which will be held.
Apart from the facilities and great malls, you can also check out Bukit Timah Nature Reserve, Tampines Eco Green Park and MacRitchie Reservoir parks particularly if you’re a nature lover. Both you and your family members could explore and enjoy Tampines Eco Green Park’s habitats and plants and is linked via park connectors from Tampines Biking Trail and Sun Plaza Park. It’s known for bird watching as well as nature appreciation. Another park to visit is the Bukit Timah Nature Reserve that has a mountain bike trail and lots of events are being held here like a walk with monkeys to understand their social circle and community.
Quarry Park can also be found located across the border of Tampines and is previously a sand quarry. Stunning view awaits you from this place!
A wonderfully suited park for runners, water sports enthusiasts, nature lovers and individuals who love the outdoors is the attractions around MacRitchie Reservoir. It is regarded as the largest reservoir in Singapore where it’s part of a water catchment system. There’s a tree top walk that allows you to see the plants and creatures at a bird’s eye view at the MacRitchie Reservoir. It is at the well-known free-standing 250 metre suspension bridge at the highest point of MacRitchie Reservoir.
The Florence Residences is a new condo development set to launch in District 19 Singapore.
Formerly known as the Florence Regency at Hougang Avenue 2, the property has been sold to a Chinese developer, Logan Property Developers.
The Florence Residences. The 2014 master plan for the area shows that the development plan for the residential property sits on a 386,236 sq ft site, with a GPR of 2.8. The resulting land price of the development unit translates to around S$842 psf ppr.— Logan Property Developers is pleased to announce that the Chinese company has submitted the winning bid of S$629 million for the property previously known as the Florence Regency. The development is now to be known as
The Florence Residences Condo site is the second one owned by Logan Property. Recently, it was announced that the Chinese firm had submitted a joint record-breaking bid of $1.003 billion with Nanshan Group. The bid gained the firm ownership of the 21,109 square meters site off Stirling Road. For the first time for a purely residential location in the GLS programme, the bid topped the billion-dollar level.
The Florence Residences Hougang is a short walking distance from the Kovan MRT station along the Upper Serangoon Road. The residences are located next to a bus interchange of Hougang Mall, as well as close to the Hougang MRT station. This area is a mature part of Singapore which has a healthy and robust infrastructure under constant development.
Some of the nearby amenities and other facilities include the Hougang Sports Centre, Serangoon Park, Coney Island, Lorong Halus Wetland and Punggol Waterway. The Residence Condo is conveniently near great hospitals and healthcare, such as Bright Vision Hospital and Hougang Polyclinic.
Serangoon JC is within walking distance of the condos. There is also a good selection of quality educational facilities for youngsters. These include Montfort Junior School, Holy Innocents’ High School, Xinghua Primary School and Xinmin Primary and Secondary schools. A number of childcare and day care centres are located around the Hougang site.
Name: Khai Rambo – Project In Charge – Developer Sales Team
Organization: The Florence Residences
Address: 718 Hougang Avenue 2, Singapore 530718
Stirling Residences, a 99-year leasehold development, sits on a plot size of 227,221 square feet and TOP is expected to be 30th April 2022. At the time of writing, 467 units have been sold.
The unit types and indicative pricingin this development are:
Consisting of two 40-storey towers and a 38-storey tower, a variety of units ranging from 1 to 4 bedrooms are offered. 4-bedroom penthouses are also available. 1259 parking lots are provided.
The main entrance is at Stirling Road facing the Mei Ling Street HDB estate, and the side gate is also on Stirling Road, facing Queens Condo.
Figure 1: Site Plan
Facilities are located on Deck 1, including various water facilities like lap pools, kid’s pool and water play areas, and an aqua gym. The development is dotted with various activity areas like gardens, ponds, decks and BBQ pits. There is also a tennis court and various sky and roof terraces for residents to enjoy the views. In total, the condo features 80 of such facilities.
There is also a childcare located in B2 of the project.
Thoughts from Show Flat Visit
Figure 2: Floor Plan of Type 2BR-P2(2 Bedroom)
This 2-bedroom premium unit has what is known as a dumbbell layout. From the entrance, the living, dining and balcony areas are directly ahead, while the two bedrooms are on either side. The kitchen is located in a recess on the left near the main door. This is different from most 2-bedroom units where the kitchen is usually next to / part of the dining area.
Figure 3: Kitchen
Due to the unit size of 678 sq ft, the kitchen is rather small and both counter and storage space is limited. Moreover, the washer/dryer takes away a chunk of space as well. Kitchen equipment,including a fridge and oven from Brandt, are provided.
Figure 4: Living / Dining Areas
The living and dining areas are separated by the entrance to the bedroom, which means that they are a door’s width apart. This is somewhat close, although the distance from the sofa to the opposite wall is adequate. Flooring for 2-bedroom units are homogenous tiles.
Figure 5: Master Bedroom
The master bedroom isa reasonable size and a king-sized bed can be placed. However, walking space is compromised and is just satisfactory. Flooring for bedrooms is timber.
Figure 6: Area Map
Amenities around the area
Queenstown is a mature estate, and amenities are easily available. Shopping malls like Anchor Point, Alexandra Central, Queensway Shopping Centre, and Ikea are all within a straight line distance of between 350 to 500 metres. These malls offer both retail and dining options. For hawker food lovers, Mei Chin Road Market is just across the road.
A Cold Storage supermarket branch can be found in Anchor Point, and NTUC fans can find a small branch at Blk 170 Stirling Road which is about 230 metres away. For a major supermarket run, a bigger NTUC branch is located at Dawson Road, about 650 metres away.
Queenstown Community Library is about 800 metres away. For medical facilities, the nearest is Alexandra Hospital.
Getting to other parts of Singapore is easy via MRT or by driving. Raffles Place is only 5 stops away via the East-West line. Driving to Wheelock Place via Tanglin Road will probably take 10 minutes.
Schools areplentiful in this area. These include New Town Primary School, Queenstown Primary School, Queensway Secondary School and The Global Indian International School.Higher institutes of learning near driving distance include NUS, Ngee Ann Polytechnic, and Singapore Polytechnic.
Positive Aspects of the Development
- Stirling Residences is in a good central location – easy travelling to the city for work, as well as to Orchard for retail therapy.
- The area is a mature estate, and amenities are easily available.
- Views from the higher floors will definitely be panoramic – be it the city skyline, or a sea view.
- The development is away from the main road, with units facing either Mei Ling Street or Angora Close. Thus, it will be a quieter and more tranquil development as compared to other condos in the area, which are facing the main road and have to contend with the MRT noise.
- Vehicular entrance to the development should be relatively smooth as drivers can access the condo via Shepherd’s Drive, Stirling Walk or Mei Chin Road.
Review of Whistler Grand and Twin Vew
Whistler Grand and Twin Vew are located along West Coast Vale. They are located just opposite each other. Twin Vew was launched earlier this year in April and Whistler Grand will be launched later this month.
Details about the developments
Whistler Grand is a 99-year leasehold condominium developed by City Developments Limited (CDL). The development will consist of a pair of 36-storey blocks with a total of 716 units. Back in January 2018, this site along West Coast Vale was part of the reserve list and it was triggered for sale when a developer committed to a bid of at least $379.988 million, or $643.53 per square foot per plot ratio (psf ppr). Eventually, CDL emerged as the top bidder for the site with a bid of $472.4 million or $800 psf ppr. The winning bid was at the top end of what analysts had expected for the 19,591.5 square meter site and it clearly showed the bullish nature of the property market in the earlier part of 2018. A significant point to note would be that CDL paid about 35 per cent higher than the $592 psf ppr that was paid for Twin Vew’s plot of land. The breakeven price for Whistler Grand should be $1,250 psf and thus the average selling price should be in the range of $1,400 to $1,500 psf.
Twin Vew is a 99-year leasehold condominium developed by China Construction Development. The development will consist of two 36-storey towers with a childcare centre and two shop units. Back in February 2017, China Construction Development put in the top bid of $292 million for the 176,294 square feet plot of land. There were nine other bidders.Analysts had expected bidding prices to range from $450 psf ppr to $600 psf ppr and the winning bid by China Construction Development of $592 psf ppr was close to the top end of expectations. This was 7.4 per cent above the $551 psf ppr paid for the Parc Riviera site. However, Parc Riviera faced the Ayer Rajah Expressway while Twin Vew was seen as a better plot as it was further away from the expressway. Twin View was launched in May earlier this year before the implementation of the latest round of cooling measures. 85 per cent or 442 of the total 520 units were sold during the weekend launch. The average price of units sold was $1,399 psf.
Where are these developments located?
Twin Vew and Whistler Grand are located just opposite each other. They are both located along West Coast Vale which is a cul de sac.
The closest MRT station would be Clementi MRT Station and according to Google Maps, the time taken to walk to the MRT Station is 37 minutes and the journey travelled would be 3 kilometres. There should be a shorter way by cutting across towards Carabelle and then crossing the overhead bridge. This should cut down the journey by a bit.
I would think that residents would be better off taking a bus to Clementi MRT Station. There are a few ways to get to Clementi MRT Station and the fastest way would be to take a bus opposite NEWest Condominium. According to Google Maps, the total journey will take 24 minutes.
The upcoming Pandan Reservoir is nearer and that is two MRT stations away from Jurong East Interchange which will be an interchange between the North-South, East-West and Jurong East MRT lines. However, Pandan Reservoir MRT Station is still some distance away and the train line is only slated for completion in 2027.
The Ayer Rajah Food Centre is 1.7 kilometres away and will take you about 21 minutes to walk there. There is also a market in that same cluster. It is a cluster of HDB shops with a market and the food centre.
Travelling to Clementi MRT Station may not be very convenient but from Clementi MRT Station, getting to Jurong East and to the city centre is rather convenient.
From Clementi MRT Station it takes just one stop to get to Jurong East MRT Station. This is perhaps where a significant number of people living in and around Clementi will be working. It will take you 4 minutes and cost $0.87.
Getting to the heart of the central business district from Clementi MRT Station is also rather quick. It takes 18 minutes to travel 9 stations from Clementi MRT Station to Raffles Place MRT Station and it will cost $1.41.
Travelling from Clementi MRT Station to Harbourfront MRT Station will take 18 minutes as well and cost $1.37.
Finally, getting to Singapore’s main shopping belt Orchard Road will take you 16 minutes over 8 stations and cost you $1.37.
If you are driving to Raffles Place, it will take you 17 minutes and the distance travelled will be 15.1 kilometres. Do note that at the point of my Google Maps query, it was during off-peak hours. During peak hours, this timing can increase significantly.
The drive to Orchard Road will take you 17 minutes and the distance travelled will be 11.6 kilometres. Once again this is off-peak hour timing.
The selling point about the developments
For Whistler Grand, the main selling point would be the reputable developer. City Developments Limited is a very reputable developer with decades of experience in developing quality condominiums in Singapore. The quality and standard of their developments are very high and I personally have clients who will only purchase properties from reputable developers and CDL is one such developer.
For Twin Vew, the main selling point would be that it fronts the Sungei Pandan river. Waterfront living is rare in Singapore and units that face the river could be rather valuable in an increasingly built-up city like Singapore. Based on the URA Master Plan, the plot of land south of Twin Vew will be a school. Thus the views south of Twin Vew should remain unblocked. Just after the school will be a green space and a place of worship. Only the plot of land south of the place of worship is residential land. The distance to the next development south of Twin Vew will be rather far when that development is built up.
The location of these condominiums is rather unique. The condominiums are not the most accessible and although touted to have an impact, I personally feel that the main tenant pool would not be from the Jurong Innovation District plans (I will touch on where the potential tenants should come from later in this article). For those who are not aware, Jurong Innovation District will be in Jurong West, in the area around Nanyang Technological University (NTU). It is an industrial park of the future, envisioned by the Singapore government to encourage more innovation. Based on Google Maps, driving to NTU will take 15 minutes and the distance travelled will be 11.7 kilometres. In contrast, from my previous example, the distance travelled when driving to Orchard Road from Whistler Grand and Twin Vew is 11.6 kilometres. Thus Orchard Road is nearer or just about the same distance from Whistler Grand and Twin Vew as is NTU. Thus I find it extremely perplexing when there are buyers snapping up units in this vicinity to take advantage of the surge in probable tenants from the upcoming Jurong Innovation District.
Instead, where I think the bulk of the tenants should come from are the two business parks north-west and south of these developments. It would be good for potential buyers to note that these are huge business parks and personally from past experiences renting developments around the area, this is the main source of tenants for developments in this area. Just like The Jovell which was also inaccessible to the MRT station and amenities, the condominiums in these areas have a natural catchment area of ready tenants. The people working in these areas are the ones most likely to rent properties in this area.
In fact, the area south of these developments houses a large number of industrial buildings. This is perhaps the main source of tenants for the developments in this area.
The huge catchment area for tenants makes this an interesting proposition for buyers. If we take a look at the recent transactions at Botannia, a 2-bedroom unit rents for about $2,600 and a 3-bedroom units rents for about $3,500. A 2-bedroom unit at Twin Vew is about $1,000,000 and a 3-bedroom unit is about $1,500.000 then the gross yields are about 3.12% and 2.8% respectively.
My thoughts about the developments
Twin Vew was launched at the opportune moment. Right when sentiment for property was extremely bullish. The developer paid a high price for the plot of land. $592 psf ppr was at the high end of analysts expectations at that moment. CDL paid 35 per cent higher for their plot of land but that was indicative of the market sentiment at the point of bidding.
I personally think that there will be a lot of competition for tenants. Even though the catchment area is huge, there are many developments in the area. Currently, these are the developments that are already completed in the vicinity:
Monterey Park Condominium, 999-year leasehold, TOP in 2006, 280 units
The Infiniti, Freehold, TOP in 2008, 315 units
Carabelle, 999-year leasehold, TOP in 2009, 338 units
NeWest, 999-year leasehold, TOP in 2017, 136 units
Hundred Trees, 999-year leasehold. TOP in 2013, 396 units
Total number of condominium units in the vicinity currently: 1,465 units
Confirmed upcoming supply
Park Riviera, 99-year leasehold, TOP in 2020, 752 units
Twin Vew, 99-year leasehold, TOP in 2022, 520 units
Whistler Grand, 99-year leasehold, TOP to be confirmed, 716 units
Total number of condominium units in the vicinity that are coming into the market in the near future: 1988 units
My take is that current projected rental yields based on current rental rates against prices that Twin Vew buyers bought are already hovering around 3%. In the near future, the supply of units in the area is going to increase by 135.7%, from 1,465 units to 3,453. This is something that buyers must take note of. Moreover, the units in the vicinity are sitting on either 999-year leasehold or freehold land. Parc Riviera, Twin Vew and Whistler Grand are sitting on 99-year leasehold land.
Furthermore, based on the URA Master Plan, there is a possibility of more condominiums popping up in the future. There are two residential plots of land at the start of West Coast Vale, at the junction of West Coast Highway. These can potentially add quite a number of units to the vicinity as well.
Here are the past transactions for the 5 existing condominiums in the vicinity. There were 33 transactions in the last 6 months. The median psf is $1,332.
I have always maintained that buyers should consider options in both the new launch as well as the resale market. Based on data from URA, the resale market seems to offer better value. Of course, some of these units may be facing the Ayer Rajah Expressway and thus may be rather noisy.
Prices should hover around $1,400 to $1,500 psf for units at Whistler Grand. That would be in the high end of what is being transacted currently in the resale market. If not for this development being developed by CDL, this score could have been lower. Being in the real estate market for some time and I do know that CDL developments are well thought of and of high quality. You do pay a premium but then you do get a good quality development.
[UPDATE] The pricing starts at about $1,3xx psf with average prices at about $1,380 psf. I’ve made a slight adjustment to my pricing score from the previous 2.5/5.
Travelling to and fro the development and the MRT station will be a hassle. The condominium may have shuttle service, similar to what some condominiums in the area have, to bring residents to the nearest MRT stations, bus stops or amenities. This convenience is present because of the inherent inconvenience of the location.
I do not give perfect scores. Thus 4.5 is just about the highest score I can give to a development. I’ve handled quite a few CDL developments previously, be it in the primary or secondary market. Their developments are a few notches above most developers’ offerings.
Prices below $1,400 psf during the launch. This seemed reasonable at the point in time and over one weekend, 5th and 6th of May, 442 of the 520 units were snapped up, leaving a balance of 78 units. However, in the 5 months after the launch, there were 12 units sold. At the point of writing this review, 66 units were left. The cooling measures seemed to have tapered off demand tremendously. There are still units available for sale but take up rate is rather weak.
Yes, this is just opposite Whistler Grand but as I have mentioned before in my previous review of The Tre Ver and Riverfront Residences, riverfront living in Singapore is very rare. This is the reason for the higher score. This particular plot of land in this area, in my opinion, seems to be the most optimal. Twin Vew faces the Sungei Pandan river and is away from the AYE. In fact, Parc Riviera is between Twin Vew and the expressway. The URA Master Plan shows that the plot of land south of Twin Vew will be a school. Thus those high floor views should remain unobstructed for the forseable future. If you are looking for a nice place to live in the West Coast area, Twin Vew is an attractive proposition.
China Construction Development is a decent developer. They have an extensive development portfolio. They have done numerous HDB projects as well as notable condominiums like Double Bay, Mon Jervois, The Shore Residences, The Hillier, One KM and many others. The quality of their developments tend to feel a little mass market. They are not a bad developer just that they are not one of the best.
I feel that rents may be depressed even further once all the supply comes onto the market. This is something that buyers who are looking to buy to rent out must take into consideration. Twin Vew has a unique factor as it faces the river. As for Whistler Grand, it is a CDL project. The quality and thoughtfulness of the layout and feel of the development will be second to none. I do sincerely feel that Whistler Grand, being a CDL development, will be the most impressive development in the vicinity. Twin Vew was launched at a higher average price of $1,399 per square foot as compared to Whistler Grand’s price of $1,380 per square foot. I personally find it attractive that the CDL project is priced lower than the one from China Construction Development. With median resale prices hovering around $1,332 per square foot, CDL’s average launch price of about $1,380 per square foot represents a very slight premium over the resale market. In fact I believe this is the lowest premium as compared to any other project which I have reviewed so far. If buyers are looking to purchase a unit in this area, based on price and developer reputation, Whistler Grand seems like a decent proposition.
The Piermont Grand Executive Condominium is the only new executive condominium that will launch for sale in 2019. It is located at Sumang Walk in Punggol Waterfront Town, with direct frontage onto the Punggol Waterway and views towards Punggol Reservoir. This new Piermont Grand Sumang EC is being developed by CDL Constellation (unit of City Developments Limited) and its sister company TID Residential.
CDL intends to maximise the full potential of the site. They will take this opportunity to create a landmark waterfront residence at Piermont Grand EC, with views of the waterway and reservoir.
The Piermont Grand executive condominium will be attractive not only for its waterfront lifestyle, but also because of its convenient position in Punggol. It is within walking distance of Waterway Point, the biggest shopping mall in the north-east corner of Singapore. A pleasant 8 minute stroll via the park connector by the waterway will take you there.
As for Punggol MRT station, it is a further one minute walk, accessible through Waterway Point. In inclement weather, you can hop onto the LRT train at Sumang station, a short walk from the side gate. This station is one stop from Punggol MRT station and the mall.
This Sumang Walk EC, Piermont Grand, will be CDL’s 9th executive condominium project in its extensive property development portfolio. From its depths of experience and expertise, CDL is confident of achieving a successful product here. Especially given its good location, proximity to LRT and MRT stations, and above all, the rather rare chance of creating a waterfront lifestyle EC residence.
In addition to all that, the Piermont Grand EC sits on the doorstep of the Punggol Digital District. With fresh details unveiled in the latest URA master plan, exciting times are ahead for this corner of Singapore.
THE SUMANG WALK EC AND PUNGGOL DIGITAL DISTRICT (PDD)
As Singapore’s first Enterprise zone, the Punggol Digital District will lead the way in our island’s Smart Nation push. It is envisaged to be an inclusive environment where social innovation and cutting-edge technology will transform the way we live, learn, and play.
The PPD will be the first district to adopt an integrated masterplan approach that brings together university and community with a business park. Such an integrated approach will enable close interaction and synergies between academia and industry, while cultivating a vibrant community.
Hence the Punggol Digital District will cluster growth areas of the digital economy, such as digital technology and cyber security, and foster an ecosystem of open innovation. It is projected to create about 28,000 new jobs, bringing employment opportunities close to residents of Punggol and Piermont Grand CDL.
For a start, the SIT (Singapore Institute of Technology’s) new campus is being co-located here alongside JTC’s business park buildings. This will promote greater academia industry ties, and collaboration on new ideas and technologies to boost the chances of commercial success.
The design of the PDD will also provide a green and inclusive environment for the community at large. It will offer residents additional dining, retail & leisure spots, as well as childcare facilities, a community centre, and public spaces and parks.
With all these factors stacked in its favour, backed by a trustworthy and reputable developer, the Piermont Grand EC is expected to do well at its launch preview. Especially as there has been no appreciable EC supply since the Rivercove launch in mid 2018, that sold out within a short time of its preview. (And that was despite the fact that Rivercove is not within walking distance of an MRT station.)
The tagline for the Punggol Digital District is, “The Future is Yours to Create“. It might well prove to be that of Piermont Grand too.
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