Condo Review – Kingsford Waterbay (D19)

Located along the Sungei Serangoon River and Park Connector, Kingsford Waterbay is Hong Kong-based Kingsford Development’s second project in Singapore. The massive development has sold more than 600 units so far.

Details

KWB

Pros

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Without a doubt, the price is easily the most attractive element about this project. With the 2 and 3 bedders going below $1 million, and their 4 bedders well below the $1.2 million range (average $1.1k to $1.2k psf), the barrier of entry to acquire a private property for homestay is very low. It’s competitive pricing also means exiting (selling) won’t be difficult. Avid joggers will rejoice since the massive project is located along the Punggol Park Connector. The project also contains a childcare centre and six retail space. Not really a ‘shopping mall’ but hey, it’s better than nothing.

Another of the projects main selling point is in the project surrounded by water. On the benefits of staying near water, read this article Science Explains How Staying Near Water Can Change Our Brains. I would prefer the units facing the Sungei Serangoon River since there is potential for the government to improve it further with its Active, Beautiful, Clean (ABC) Waters Programme. Kingsford Waterbay is also a peculiar development where the pool facing units (which are usually the premium priced units) is also the west-facing units. Value buyers who love pool-facing and don’t mind a little sun will be delighted.

Cons

Kingsford Waterbay isn’t exactly near Hougang MRT (3 bus stops), so buyers who are looking for a home within walking distance to MRT will be disappointed. But hey, there is 2 years free shuttle service and the units are priced from $1.1k-$1.2k psf, it’s safe to say that the gains outweigh the losses – unless you die-die want a condo near MRT to which you also have to pay a premium price.

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Kingsford Waterbay is Hong Kong-based Kingsford Development’s second project in Singapore. So they have a lot to prove if they want to compete with the big boys for buyers. The first project is Kingsford Hillview Peak in Hillview Rise, which almost sold out except for the last handful of penthouse units. The development has some minor defects (as with most new developments) but the developer has – and I quote – “been helpful and willing” to resolve the issues.

Another concern for potential buyers are probably the number of units in the development. Kingsford Waterbay has 1,165 units altogether. More units may result in higher competition for tenants or for sale when MOP day comes, so buyers buying a unit here purely for investment might be disappointed. At the same time, if we take a look at Kingsford Waterbay’s most identical competitor The Minton, 1,145-unit development which completed in 2014 transacted 34 sales and 202 rentals in just year 2016 alone (source: The Edge Property). So maybe, the concern of oversupply and competition is unwarranted.

The Verdict

Overall, I think Kingsford Waterbay is a safe and good buy simply because of its very attractive pricing. This project will be good for buyers looking to upgrade. I’m not exactly sold on the idea of it being a investment development but only time will tell, and maybe with the government’s intervention, first movers will be rewarded after all. RW

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Share this article with your friends! The above review represents the writer’s honest opinion on the project and does not reflect the sentiments of any real estate agency or developer. Want to buy and need more info? You can reach me at 9-833-6450 or eugenetayhy@gmail.com. The author is a licensed real estate salesperson with Propnex.

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Condo Review – Artra at Redhill (D03)

Touted as the place that’s right next to the city without the hustle and bustle, Redhill has been the subject of interest with the addition of the new condo by FEC Skyline Pte Ltd (a subsidiary of Tang Group of Companies) amongst other completed and soon-to-complete developments.

Here’s what Reuelwrites have to say about Artra.

Details

Artra

Pros

Without a doubt, Artra’s best asset is in its location. Located right beside Redhill MRT, residents and tenants need not fear about the elements. Since moving in to a condo in Kovan that is situated right beside a MRT, I cannot even imagine having to walk more than 3 minutes to get to an MRT anymore. Besides that, Redhill MRT isn’t some ulu MRT station in the outskirts of Singapore. So location alone, Artra is a winner.
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Besides that, Artra is the only mixed development in the area with 16 retail shops, a childcare centre and Fairprice Finest. Plus, if you stay high enough (tentatively*** above 29th floor and facing south), you can actually enjoy sea view! There is also a sky garden on the 44th floor for all to enjoy the breathtaking views of the city and the sea.

But most importantly, the major concern for all homeowners and investors is to enter at the right entry price. Based on insider info, we are hearing that the lower floor units will (highly likely) start from $1.53k psf (and might be even lower) while the higher floors will start from $1.63k psf. Comparing this with prices of the nearby new launches and even the new developments in Queenstown MRT, we have a clear winner.

Cons

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One of the main complaints of Artra is the potential oversupply of condominium developments in the vicinity. Numerous condos have been built in the recent decade to the likes of The Metropolitan (TOP 2009), Ascentia Sky (2014), Echelon (2016), The Crest (TOP 2018), Alex Residences (TOP 2018), Principal Garden (TOP 2019). Oversupply? Only time will tell. But the fact that Artra’s location is the best (closest to MRT) and price is very competitive makes this a non-issue for investors and potential home owners.

The other main complaint is ironically related to Artra’s greatest strength. The development is located right beside an above-ground Redhill MRT which also means there will be MRT track noise. Fortunately, it is located next to the station and not the tracks in-between, noise level should be kept to a minimum since the MRT trains would have slowed down on approaching the MRT station. Of course there is the “Please mind the gap” announcement everytime (Laughs).

The Verdict

In short, just for the location and price alone, I don’t see why this project doesn’t sell well on the launch day (expected to be in end April 2017). There will most likely be balloting for the units (only 400 in total) on the first day as observed at other new launches this year especially since the psf is so low. Only the fastest buyers will get their choice units so do contact a real estate consultant and register your interest as soon as possible. RW

This space will be updated once developer disseminates more information. 

Like what you see?

Share this article with your friends! The above review represents the writer’s honest opinion on the project and does not reflect the sentiments of any real estate agency or developer. Want to buy and need more info? You can reach me at 9-833-6450 or eugenetayhy@gmail.com. Disclaimer: The author is a licensed real estate salesperson with Propnex.