With the recent Greater Southern Waterfront updates and announcement during the NDP Rally 2019 by PM Lee Hsien Loong, there has been increased interest in this area.
In this article, we collate 10 of the most popular properties within the area that homebuyers can look at. Each property caters to different groups of buyers, whether is it for own-stay or as an investment.
As always, after selecting the property that you are interested in, unit selection is also an essential step that could be the difference between a profit-making or loss-making purchase. Disclaimer: This article is in no way an investment recommendation, please do your own due-diligence before making a decision.
Freehold Collection
1.Spottisewoode Residences
Completed in 2014, Spottisewoode Residences, which is developed by UOL is located in a small property cluster of Spottisewoode / Everton Park. The development just 5 mins walk from the upcoming Cantonment MRT that will be completed by 2025.
This 351-unit condo has the benefit of being at the centre of Greater southern waterfront (GSW) developments. What makes it better is its’ Freehold tenure which allows owners to have a worry-free wait for potential capital growth.
Looking at its surrounding, the condo is close to Singapore General Hospital, Tanjong Pagar CBD which is undergoing regeneration plans. Right infront of the condo would be the Cantonment district which I would imagine and assume to be the main highlight and center of GSW. Just think about how long it took for Singapore to get the 2010 land-swap agreement (20 years) with Malaysia to regain control of the Cantonment MRT site, my guess is it’s a key piece of the GSW puzzle.
2. Skyline Residences
Completed in 2015, Skyline Residences has the best views of Keppel Bay golf course and Sentosa. From 2022 onwards, the golf course view will be replaced by the re-development of the new Keppel district with the coastline and ocean in the backdrop.
This 283-unit condo has the benefit of great views of yachts and cruise ships that sail through the Sentosa water channels. This is one of the options within the GSW for freehold property collectors.
Just 5 minutes walk from Telok Blangah, Skyline Residences is amongst a rare group of condos that are Freehold and within 5 mins of an MRT. Prior research has shown that such properties represents approximately 10% of the total private residential property supply.
3.The Foresta @ Mt Faber
The 141-unit low-rise condo is a top pick for nature lovers given its elevated location along the road leading to Mount Faber Park. Residents here have a choice of pool and greenery view, depending on the unit.
If you like a 5-storey low-rise, freehold development, The Foresta could be one of your options. The condo is an 8 minutes stroll to Telok Blangah MRT and 15 minutes walk to Vivo City.
Emerging Value Buys
4. Avenue South Residence
When Avenue South Residences was put out for tender, there was only 1 bid submitted which was by a consortium led by UOL. Such an underwhelming demand for the land had markets talking down the launch. That was certainly not the case as UOL surprised the market by selling more than 90% of the 300 units launched.
Avenue South Residences is the true definition of having a first-mover advantage as a property investor, as its price is still considered fair. With an average price of $1,951psf, Avenue South Residence’s price is surprisingly comparable to new property launches at Woodleigh and Queenstown, which lack the GSW growth effect.
For homebuyers who prefer a brand new property, this development ticks all the boxes. With the new green corridor that will be constructed, the development will be about 8 minutes walk to the upcoming Cantonment MRT (2025). For families with children, CHIJ (Kellock) and Radin Mas Primary School are within the 1-km radius.
5. Reflections at Keppel Bay
This condo development requires no introduction. Anyone who drives through the Habourfront area will see Reflections at Keppel Bay’s award-winning architecture designed by Daniel Libeskind.
The 1,129-unit condo is located along an extensive 2460-feet shoreline that is accessible via the side gates. Residents here enjoy a plethora of facilities that includes two swimming pools, BBQ pavilions and a well-equipped Gym that gas great sea-views.
Residents here also enjoy an assortment of views ranging from landscape to marina views. Homebuyers can choose between low-rise and high-rise units, which cater to different buyer preferences.
Price of units at Reflections at Keppel Bay are starting to look attractive and it is a interesting time to be a buyer for this development. With proper property selection, an investor could see capital growth (for reasons I have highlighted in the Sentosa/Keppel Bay report) in the years to come.
6. Caribbean at Keppel Bay
The first condo development to be constructed at Keppel Bay in 2004, Caribbean is home to many local and expat families. The facilities here attract families because children and teenagers can enjoy the huge pools within the property.
The 969-unit condo offers homebuyers with amazing waterway views, which feels like dining by Clarke Quay or Robertson Quay. Other units face the huge pool or have marina views.
Caribbean units are spacious and generally in good condition, however given that it is 15-years old, minor renovation works may be required for some units before moving into this condo. The development offers homebuyers to purchase units at similar price PSF of properties for sale at Thomson, Potong Pasir and Eunos. If you like this area and see the potential of the Keppel Bay cluster, it is an exciting period to be hunting for good units here.
7. The Pearl @ Mt Faber
Quietly located at the foot of Mount Faber, this 192-unit condo is home to residents who value a quiet and serene environment.
Developed by Sim Lian, this development is designed to have highly functional and space efficient layouts for families to live in. Residents can enjoy greenery and pool views in most of the units here.
Vivo City is a 15 minutes walk away from the development, while residents will be able to walk to the upcoming Keppel MRT to be completed by 2025.
With an average price of less than $1,200psf, this 14-year old condo has the most affordable price PSF in this list of properties within the GSW.
8. Kent Ridge Hill Residences
This 548-unit along Kent Ridge Hill is a low-rise development for nature lovers. Nestled within the South Buona Vista landed enclave, residents here will enjoy a serene and comfortable environment.
Constructed by Oxley Holdings, Kent Ridge Hill Residences is built with lush greenery and beautiful landscaping, a home which residents would look forward to come home to.
The condo is about 500 metres from Pasir Panjang MRT, when the circle line extension is completed in 2025, travel time from Pasir Panjang to CBD be reduced as it is only 7 MRT stations away from Marina Bay. The condo is one of the few sizable condos within the Pasir Panjang area as most of the surrounding properties are boutique developments or smaller developments with limited facilities.
The Pasir Panjang cluster will be redeveloped under the Draft URA Masterplan 2019 where Pasir Panjang Power Station will be redeveloped into entertainment spaces. Kent Ridge Hill Residences may not be the most affordable property, but if you love the lush greenery as well as the proximity to Singapore’s Start Up Hub at One North while being close to future Pasir Panjang district redevelopments, this is a condo that you may want to consider.
Trophy Collection
9. Corals at Keppel Bay
Designed by Daniel Libeskind and completed in 2017, Corals at Keppel Bay is Keppel Land’s third project in the Keppel Bay area. The architect took best of and what was not in Caribbean and Reflections, and put it into Corals at Keppel Bay.
As compared to Reflections and Caribbean, Corals is a low-density development with just 366-units. The development’s landscape is carefully designed with water features to mimic the effect of floating on water. What is most interesting is units are designed with view optimization in mind. Many of the units have multiple views of the Keppel Marina, Waterway and Landscape views.
Keppel land has put in a lot of effort on the finest details in constructing each unit at Corals. Home shelters in the units are hidden by clever interior design while the luxury condo comes with a Smart Home system that will put a smile to residents.
It is not wonder in 2013, it was reported that family members of former URA Chief Planner have bought not one, but two 4-bedroom units at Corals at Keppel Bay priced at slightly above S$10 million each.
10. Wallich Residences
Wallich Residences has been in the limelight recently with the announcement about Billionaire James Dyson’s purchase of the super penthouse at S$73.8 million. The unique feature for Wallich is residential units are built from the 40th floor (180 metres above sea level) onwards while lower floors are occupied by office units and hotel rooms.
Residents in this 181- unit skyscraper enjoy paranomic views of the Greater Southern Waterfront and surrounding shophouses in the Everton Park cluster. Record breaking prices of S$3,400psf onwards for units at Wallich Residences brought Tanjong Pagar’s property cluster prices up.
Wallich Residences is truly a trophy asset for property collectors worldwide to own a piece of one of Singapore’s most valuable property within the most important Masterplan (GSW) for Singapore.
Closing Words
While there are other private developments available within the GSW, these ten properties have been collated because they are common choices for home buyers looking to own a piece of the GSW. There are many considerations when deciding which condo to buy. Whether a condo is a good buy depends on your needs as well as investment objectives.
If you would like to discuss further about properties in the GSW, feel free to contact me for a chat.
Disclaimer: While every effort has been put into ensuring the data and information in this article is accurate as of writing and publish date of November 2019, this blog does not undertake or guarantee that the information herewith is accurate. When in doubt, please seek professional advise.