FoundOnEdgeProp: Living large in the East for under $1,100 psf

on EdgeProp.sgIn the East Region, there are a few condo units which are at least 3,000 sq ft in size and have an asking price that is under $1,100 psf. These come with the added bonus of being located in relatively mature towns with ample amenities and conveniences.

The East Region has long been a popular choice for buyers on the property market. Of the total resale transactions for the first 10 months of this year, 1,607 involved condo units in the East Region, making up 19.1% of all transactions. In comparison, there were 2,513 transactions in the East Region last year, making up 20.7% of total resale transactions.

For those seeking condo units above 3,000 sq ft, they may find some solace in the East Region. Despite these being relatively rare, there were 110 transactions for such units in the first 10 months of this year, accounting for a mere 1.3% of total resale transactions.

We looked into listings on EdgeProp and found several units of at least 3,000 sq ft in the East Region with asking prices below $1,100 psf. Those with larger families may find that these spacious and affordable homes are the perfect fit.

Strata-landed units in District 16

Archipelago is a 99-year leasehold condominium situated along Bedok Reservoir Road in District 16. The development obtained its temporary occupation permit (TOP) in 2015 and comprises of 553 condo units as well as 24 strata landed units. It is conveniently close to Bedok North MRT Station, Damai Primary School, Bedok Reservoir Park, and the Pan Island Expressway. At the time of writing, there was a listing for a strata landed unit in Archipelago with an asking price of $3.58 million ($813 psf). The unit is 4,402 sq ft in size and has five bedrooms.

More choices along Flora Drive

Freehold Edelweiss Park Condominium and 99-year leasehold Palm Isles are both located along Flora Drive in District 17. Edelweiss Park Condominium obtained its TOP in 2006, while the 429-unit Palm Isles obtained TOP in 2015. While the distance to the nearest MRT station is far, the condos are conveniently close to Tampines Expressway, Tampines Mart, Komo Shoppes, East Spring Primary School, and East Spring Secondary School.

At the time of writing, there was a listing for a 3,197-sq ft unit in Edelweiss Park Condominium with four bedrooms and an enclosed terrace. The asking price for the unit was $3.05 million ($954 psf). Palm Isles had a listing for a three-storey unit with an asking price of $3.14 million ($836 psf). The unit is 3,757 sq ft in size and has five bedrooms. Additionally, there was another listing in Palm Isles for a smaller five-bedroom unit. The 3,014-sq ft unit had an asking price of $2.8 million ($929 psf).

Higher asking prices for District 15

At the time of writing, there was a listing for a 3,940-sq ft unit in Sanctuary Green with an asking price of $4.1 million ($1,041 psf). The penthouse unit has four bedrooms and a study. Situated along Tanjong Rhu Road in District 15, the 99-year leasehold development obtained its TOP in 2004. The 522-unit condo is a short walk away from the upcoming Tanjong Rhu MRT Station on the Thomson-East Coast Line (TEL).

Westgate is the perfect place to shop, dine and have a fun day out for both visitors and residents of Jurong Lake Condo. It is definitely a must-visit for anyone living or visiting the area!

Additionally, there was a listing for a unit in Laguna Park. The 99-year leasehold condo is 99-year leasehold and is located along Marine Parade Road in District 15. The 516-unit development obtained its TOP in 1978. The listing was for a four-bedroom penthouse unit that is 3,370 sq ft in size. The unit had an asking price of $3.6 million ($1,068 psf).

Average price for Districts 15, 16 and 17 on the rise

Since 2012, the average resale price for condos in District 15 have consistently exceeded that of their counterparts in Districts 16 and 17. This could be attributed to the stronger price growth of 47% achieved for condos in District 15 , compared to price growths of 44% and 39% for Districts 16 and 17, respectively.

The current resale prices for condos in District 15 are $1,687 psf, which is $285 psf and $530 psf higher than their counterparts in Districts 16 and 17. The current average prices for resale condos in Districts 16 and 17 are $1,402 psf and $1,157 psf, respectively. Thus, it is notable that the current average resale prices for all three districts are higher than the asking prices of the listings highlighted above.

In the East Region, buyers with larger families may want to consider these condos with spacious units of at least 3,000 sq ft in size, available at an asking price of below $1,100 psf. These condos are also located in relatively mature towns with ample amenities and conveniences, making them all the more attractive. Check out the latest listings for Archipelago, Edelweiss Park Condominium, Palm Isles, Sanctuary Green, Laguna Park properties on EdgeProp.sg.