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Top condos with en bloc potential: Most affordable outside prime districts

fiona.ho@edgeprop.sg

Following our article on the most affordable condos with en bloc potential in Singapore’s prime districts, we've identified similar properties within the city fringes and suburban areas.

As with before, we used our logit model to identify condos with the highest probability of being put up for collective sale. Based on the model, we found that variables such as age (older developments have a higher probability), number of units in the development (smaller developments have a higher probability), and plot ratio enhancement can have a significant impact on a property's en bloc potential.  

For this article, we looked at the absolute value of sales transactions that took place between 2014 and 2017 as a guide to identifying affordable properties with en bloc potential within planning areas located in the rest of central region and outside central region.

 

Astor Green

D21 – Bukit Timah

170 units

Completed in 1995

Average price: $1,201 psf

Astor Green is a medium density condo with only three blocks and stands at 15 storeys high. It is located in the Holland vicinity and is 746m away from Dover MRT station.

Astor Green Units ranging from 689 sq ft to 1,475 sq ft are currently listed for sale on EdgeProp.sg for between $830,000 ($1,204.60 psf) and $1.55 million ($1,050.80 psf).

The most recent sales transaction at the 99-year leasehold condo occurred in August 2017, when a 1,066 sq ft unit sold for $1.1 million (1,032 psf). It was the only sales transaction at the development this year. Prior to that, there were five sales transactions in 2016, during which units ranging from 1,378 sq ft to 1,528 sq ft changed hands for between $1.28 million ($868 psf) and $1.55 million ($1,104psf)

 

Vista Park

D5 – Queenstown

187 units

Completed in 1985

Average price: $1,038 psf

Vista Park is nestled between Kent Ridge Park and the private housing estate off Pasir Panjang Road. The condo stands at just four storeys, and is 558m away from Pasir Panjang MRT station and 600m away from Pasir Panjang Food Centre.

Vista Park has been put up for collective sale for at least three times, with the last unsuccessful attempt dated back in late 2011.

There were nine sales transactions at the leasehold development in 2017. Between February and August, units ranging from 646 sq ft to 1,076 sq ft changed hands for between $610,000 ($859 psf) and $906,000 ($842 psf) at Vista Park. Meanwhile, 732 sq ft unit is listed for sale on EdgeProp.sg for $698,888 ($954.80 psf), while a 948 sq ft unit is selling for $920,000 ($970.50 psf).

 

Keng Lee Court

D8 – Kallang

25 units

Completed in 1985

Average price: $1,126 psf

Keng Lee Court is a freehold residential that is located 655m away from Little India MRT station and less than 500m away from Pek Kio Market & Food hawker centre.

There are limited listings and sales transactions at the 25-unit Keng Lee Court. The most recent transaction at took place in July 2017, when a 474 sq ft unit sold for $600,000 ($1,267 psf). Prior to that, a 624 sq ft unit sold for $720,000 ($1,153 psf) in June 2017.

A 1,066 sq ft unit is currently listed for sale on EdgeProp.sg for $1.2 million or $1,125.70 psf.

 

Sunshine Lodge

D19 – Serangoon

30 units

Completed in 1998

Average price: $1,022 psf

Sunshine Lodge on Upper Serangoon Road has four storeys, and is located 541m from Serangoon MRT station. It is about 10 minutes’ walk from Nex shopping mall.

The freehold residential features different unit types, including studio units, three-bedroom units, and four-bedroom units spanning about 2,045 sq ft. A 734 sq ft unit at the development is currently listed for sale on EdgeProp.sg for $750,000 or $1,021.80 psf.

The latest sales transaction at Sunshine Lodge occurred in July 2016, whereby a 592 sq ft unit sold for $640,000 ($1,081 psf). Prior to that, a 786 sq ft unit and a 1,938 sq ft unit changed hands for $735,000 ($935 psf) and $1.34 million ($690 psf) respectively in 2015.

 

Bedok Court

D16 – Bedok

280 units

Completed in 1985

Average price: $669 psf

Located on Bedok South Avenue 3, Bedok Court is 594m from Tanah Merah MRT station, and is within a 1km radius from schools like Temasek Primary School, Bedok View Secondary School and Bedok South Secondary School.

There were 11 sales transactions at the leasehold residential in 2017 whereby units ranging 1,195 sq ft and 2,411 sq ft changed hands for between $765,000 ($640psf) and $1.63 million ($721 psf).

Two 1,173 sq ft units are currently listed for sale on EdgeProp.sg at $1 million and $1.2 million respectively. Meanwhile, a 6,211 sq ft unit is listed for $3.75 million or $603.80 psf.

 

Chuan Park

D19 – Serangoon

444 units

Completed in 1985

Average price: $925 psf

Chuan Park is located right next to Lorong Chuan MRT station and is about 850m away from Nanyang Junior College. It was reported that residents of the leasehold development are currently at the early stages of the collective-sale process.  

There were 11 sales transactions at Chuan Park in 2017, with the most recent one in August 2017, whereby a 1,173 sq ft unit fetched $995,000 ($848 psf).

Units ranging from 1,173 sq ft to 2,045 sq ft are currently listed for sale on EdgeProp.sg from between $1.23 million ($1,046.90 psf) and $1.78 million ($871.27 psf).

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