If you are looking out for the next EC project in Tampines area, why not take a look at Tampines Street 62 Parcel A and Parcel B?
With the upcoming launch of Parc Central Residences EC in Q1 2021 which is billed as the first EC launch in Tampines since 2012, as well as recent coverage on the positive performance and demand of properties in the East Region (Steady home demand shows resilience), there is definitely much interest in the price performance of previous EC launches in Singapore.
So far there has been 65 EC launches in Singapore, beginning with Eastvale along Pasir Ris Drive 3, which TOP-ed in Jan 1999. Refer to the full list of ECs here.
For buyers of Parc Central Residences, the price performance of ECs in Tampines will be of particular interest. In this article, we take a look at 4 past ECs in Tampines and how they have performed.
Spoiler: All 4 achieved positive gain!
The latest and newest EC on our list, Citylife@Tampines was launched for sale in 2012, billed as the first luxury-hotel styled Executive Condominium project in Singapore. CityLife@Tampines sold 90% of its units just two days after its launch, and was completely sold out within three months.
CityLife was more than three times subscribed with about 1,800 applications, developed by a consortium comprising Amara Holdings, Kay Lim Holdings and SingXpress Land.
The project received quite a bit of media attention for its massive 4,349 sqft presidential suite which was positioned at a price above $2 million.
Since its TOP in Feb 2016, prices have appreciated 28%, with the largest profit clocking in at above $280,000.
Being the newest EC to TOP, and with a 5-year MOP period, there are lesser transactions as compared to the other 3 ECs on this list.
However, all 4 transactions at Citylife so far have been profitable, with the highest clocking in at $238,100 profit.
Unit numbers censored for privacy.
Located along Tampines Central 7, The Tampines Trilliant was another well recevied project.
Consisting of 670 units in 15-storey high buildings. The size for the units ranges between 872 square feet to 2,465 square feet. The layouts for the units in The Tampines Trilliant aim to provide residents with homes that is comfortable for working adults, couples or families looking to own a spacious and manageable condominium unit. The sale price for the units ranges between S$ 1,100,000 to S$ 1,180,000. The rental price for the units ranges between S$ 1,100 to S$ 4,000.
Prices have appreciated by a massive 82% since its launch.
All 44 transactions at The Tampines Trilliant have been profitable, with the most recent transactions clocking at at least 3% return, and the highest at 5.4% return in July earlier this year.
Located along Tampines Avenue 8, Arc at Tampines received six bids for its site and was sold for $302 psf ppr in Nov 2010 to a joint venture between Hoi Hup Realty and Sunway Developments. The 574-unit Arc at Tampines was launched in 2011 at an average price of $740 psf.
It TOP-ed in Aug 2014 and prices have seen a steady 30% increase.
All 79 transactions at Arc at Tampines have been profitable.
Situated along Tampines Street 73, Pinevale was one of the earliest ECs to launch, achieving TOP in July 1999.
The Pinevale is a high-rise condominium development project that offers 99-year leasehold tenure to its residents and it comprises a total number of 322 residential units. The development is located along Tampines Street 73, 528823, Changi / Pasir Ris (D17-18). The selling price for each unit in Pinevale ranges from approximately SGD930K to SGD1.28mil, depending on the unit type.
Given that Pinevale had a longer runway for its growth, there were some unprofitable transactions at this development.
Looking at the following price chart, however, it is evident that overall, prices are on an uptrend.
There were as many as 160 profitable transactions, with some of the recent transactions gaining a profit of more than $300,000.
To provide a balanced picture, there were also some unprofitable transactions.
The above 4 ECs are testament to both the demand and price growth potential of ECs in the Tampines area.
With 3 ECs recording no unprofitable transactions and some profiting more than $300,000 after selling, it is an opportune moment to consider acquiring an EC today.
If you are keen to know more about Parc Central Residences EC, drop us a note today and we will be glad to share further.