Site Analysis
1. Orchard Boulevard
This plot may be viewed as a ‘trophy project’ by developers as it is a plum site situated beside the Orchard Boulevard MRT station and nestled within the Orchard shopping belt, which is very rare in the market. The MRT station is along the Thomson East Coast Line opened recently. Moreover, few new developments in the Orchard area are directly linked to an MRT station.
There has not been a GLS released for sale in the vicinity in the past five years ago. Therefore, developer and buying interest may be healthy for this plot. The last GLS site released in the vicinity was Cuscaden Road currently occupied by Cuscaden Reserve. The site attracted 9 bidders then and the winning was S$2,377.2psf ppr awarded on 17 May 2018.
The future condominium may be marketed as a super-luxury project which may draw keen interest from high-net-worth individuals.
2. Zion Road
The future development may be popular among buyers as it is within walking distance of an MRT station. The site is also near Orchard and at the fringe of the CBD. There are ample amenities and near the Great World City shopping mall. However, future condominium units may not enjoy river views as they could be blocked by nearby developments.
Just opposite this area is the former GLS site at Jiak Kim Street which is the current development Riviere. There were 10 bidders then and the winning bid was S$1,732.54 psf ppr awarded in December 2017. The other GLS in the vicinity is the land parcel at Irwell Bank Road which is the current Irwell Hill Residences. The site attracted 7 bidders with a winning bid of S$1,515.08 psf ppr awarded on January 2020.
Both sites attracted strong interest from developers. Therefore, we expect healthy interest in this new site as well.
3. Pine Grove Parcel B
This site may be popular because there is a limited supply of new condominiums in the Pine Grove area and it is an exclusive private housing enclave. Moreover, developers may be motivated by the good sales performance of past project launches in Clementi.
The last GLS sales launch was for Pine Grove Parcel A which attracted 5 bidders with a winning bid of S$1,318.26 psf ppr awarded on June 2022. The project is called Pine Tree Hill which will be launched for sale in the coming weeks.
4. Plantation Close EC
The site is within short walking distance of the future Tengah Park and Bukit Batok West MRT station on the Jurong Region Line. This site is also near the Jurong Lake District. Recent EC launches have experienced strong sales. For instance, Copen Grand was sold out within a month, and Tenet sold over 72 per cent of its units on the launch day.
ECs will remain popular. As prices of new condominiums continue to rise and the price gap between a new private condo in the suburbs and a new EC remains significant, buyers will consider ECs, which are more affordable and can offer good value for aspiring HDB upgraders.
5. Clementi Avenue 1
This site is situated between The Clement Canopy and The Clavon which are both launched for sale a few years ago. The site is near many popular, top schools like the Nan-Hua High School, NUS high school of Mathematics and Science and Yale-NUS college. Therefore the project will be popular among families and locals. It will also draw keen interest from investors because the site is near a few international schools which will draw strong rental demand.
6. Lorong 1 Toa Payoh
Supply of private homes are quite limited in Toa Payoh. Therefore, the future development may be popular among buyes. The site is also conveniently located in a mature estate with ample amenities and within walking distance of an MRT station. There are currently many HDB flats in Toa Payoh, therefore there should be pent-up demand for private housing in the area.
7. Upper Thomson Road (Parcel A and B)
The site should be quite popular as high-floor units facing the landed properties will have good, paranomic views. There is ample greenery in the vicinity which will draw nature lovers and units facing the greenery may have good views. However, some units at Parcel B which faces the expressway may be noisy and dusty.