6 Reasons Why People Are Buying Treasure At Tampines
During the en-bloc wave from 2017 to 2018, developers had acquired numerous properties for redevelopment. As a result, currently, there are quite a number of projects (especially in the residential sector) being pushed out into the market for sale.
Hence, buyers are spoilt for choice. Some will need time to do market research for the best value buy, while others go with their gut feeling or location familiarity to buy into the right development.
Here, I would like to introduce the top selling projects in 2019 - Treasure At Tampines. Hopefully, this article could provide insights to facilitate your search for your next property.
I supposed that many buyers who have been following the new launches in residential property, would be well aware that 874 units in Treasure At Tampines were sold within 9 months in 2019.
This year, another 319 units were sold so far. In fact, more than 50% of the 2203 units were sold within about one year.
On an average, there is at least a unit sold everyday, including during the Circuit Breaker period when physical viewing at the show flat is not possible. Nevertheless, it top the list on the number of units sold again in May 2020 during the Circuit Breaker. This is a strong testament to the great value proposition of Treasure at Tampines for both investment and own stay.
I will share more on the reasons behind Treasure At Tampines is able to sell at such a high record volume.
Firstly, the developer for Treasure at Tampines is Sim Lian Group Limited. In the last four decades, Sim Lian Group has been reputed for its outstanding track records in developing and constructing quality homes for families.
Notably, Sim Lian Group is both the developer and construction contractor for Treasure at Tampines. As such, it is able to ensure a consistently high standard of construction work and maximum control over the project development without paying a higher premium.
This cost savings will be enjoyed by the buyers from the developer listed prices.
Location And Surrounding Amenities
Secondly, Treasure at Tampines is located in a matured estate with more than 200,000 HDB dwellers. It is sitting on the site of the previous Tampines Court along Tampine Street 11, which is near to the Tampines Regional Centre.
There are also ample eateries right at your door step to fill up your stomach. It is also located just beside a newly revamped Tampines Market & Food Centre, and other amenities, like a 24- hour FairPrice Supermarket - providing ease and convenience in getting your groceries.
Treasure at Tampines has shuttle bus service to Tampines Central and Jewel at Changi. Tampines Central is also a shopping hub with three shopping malls, namely: Tampines Mall, Tampines 1 and Century Square. In fact, there is no need to travel out of Tampines for your shopping needs.
St Hilda's primary school is within 2km from Treasure at Tampines. Other nearby institutions include Anglican High School, Dunman Secondary School, Ngee Ann Secondary School, Temasek Polytechnic and the Singapore University of Technology and Design (SUTD). The United World College (SEA) is also in the vicinity and provides an international academic option for foreign students - also a source of tenant pool.
Thirdly, Tampines is served by a well developed road network, connecting to the Pan Island Expressway (PIE), Tampines Expressway (TPE) and East Coast Parkway (ECP). The current four MRT stations surrounding Treasure At Tampines offer convenient transportation on the East-West and Downtown lines. Very soon, residents can also enjoy traversing on the up- coming Cross Island Line, from the future Tampines North MRT Station.
Low Entry Price
Fourthly, the site where Treasure At Tampines resides is purchased at one of the lowest prices among private residential plots. This site is bought by Sim Lian Group at a price of $665 psf ppr. This is only about $90 psf ppr higher than an upcoming Executive Condominium site along Tampines Ave 10, which is acquired at $576 psf ppr.
As such, this land cost is very close to that of an Executive Condominium site, which is subsidised by the government.
Comparing with another new launch, the selling price of Treasure At Tampines is starting at only $1107 psf. This pricing is very close to an Executive Condominium unit at OLA, selling at $1092 psf.
Moreover, the latest completed development - My Manhatten, which is also near the Simei MRT station has already hit a market price of $1528 psf (in August 2018), for a low floor unit of 441 sf unit. However, the smaller unit of Treasure At Tampines is only going at about $1400 psf for the highest floor.
Notwithstanding, Treasure At Tampines has a much bigger site area with more facilities. Therefore, it should command a much higher value than My Manhattan.
Although the price of Treasure At Tampines is marginally close to an Executive Condominium, it does not entail the restrictions of an Executive Condominium. Hence, investors are able to rent out their units upon collection of keys, without having to wait for a 5 -year Minimum Occupation Period (MOP). In addition, it can also be sold at anytime when the desired capital appreciation is achieved.
Fifth, the rental potential of Treasure At Tampines is immense. It is surrounded by clean industry and business parks, which are tenant catchment areas. The various financial institutions and multinational corporations at Tampines Regional Centre are the source of tenants with good profile coming from establishments like OCBC, DBS, Citibank, AIA, Eva Air and Hitachi.
Nonetheless, the nearby Changi Business Park and the aviation industry at Changi Airport are also good sources of tenant pool, making Treasure At Tampines an ideal home base for those who work at these places.
Evidently, these areas that are near to Tampines, would be self-sufficient with source of tenant pools without having to hunt from elsewhere.
According to URA rental transactions of nearby condominiums, Double Bay Residences (completed in 2012) has an average rental yield of 4.34%, while My Manhattan (completed in 2014) stands at 3.24%.
Ease of Selling
Last but not the least, the units in Treasure At Tampines would be able to sell-off eventually with ease for the following reasons.
One, the development is located at an housing estate with more than 200,000 HDB dwellers, but has limited condominiums. These HDB dwellers are potential up-graders to private condominiums at some time and most of them would prefer to reside within the same estate as far as possible.
With such a big pool of potential buyers, it could be easily transacted, especially without any constrain like that of an Executive Condominium.
Availability of Private Residential Units for Up-graders
Two, as the development has more than 2,000 units, it would generate a higher transaction volume. This would notably translate into higher selling prices, as each transaction would likely to close at a higher selling price than the previous.
This is because every seller would not want to sell lower than what they have bought and to make a loss in their transaction. Therefore, they are likely to compare and benchmark with the recent transactions.
Three, at a low entry price when buyers buy direct from the developer, the gain over this purchase is a given. When these buyers decide to sell their units subsequently, they would be able to price their units competitively, despite having already gained in the capital appreciation.
Condominium Facilities and Amenities
With a site area of nearly 650,000 sq ft, which is as big as 11 football fields, Treasure At Tampines offers more choices and a wide variety of facilities: 13 pools, two themed play areas, and an enormous exercise center that is opened 24 hours every day.
From rock climbing to a lounger nook, and urban cultivating to throwing your own heat off social occasion, there will be something for every resident. Not only that, all these facilities come with a low monthly maintenance fee of less $200 per unit per month, inclusive of a car park lot.
This mega project with 29 blocks of 12-storey has 2203 units of 1 to 5 bedroom to cater for the needs of different buyers, both for investment and home stay.
The condominium has a spacious layout, with around 64% of the area for open space and lush landscaping, providing residents with an "up-sized condo-living" experience.
A jog or brisk walk within the condominium and a swim after a workout in the gym to exercise all parts of your muscle is make possible at any time of the day. At your own leisure, you can take a stroll within the condominium without the hassle of travelling to a nearby park.
Price Guide and Unit Types
All units at Treasure At Tampines are very efficient and have spacious layout, spanning from one to five-bedroom units (from 463 sf to 1722 sf).
All the one bedroom units are already fully sold. There are only about thirty units of 2-bedder available. The 2-bedder kitchen is provided with induction cooker, while bigger units are equipped with gas hob.
2-Bedroom + Study comes with a partially enclosed kitchen but modification is possible to convert it into a fully enclosed kitchen.
*2-Bedroom + Study is priced from $897,000 ($1323 psf)*
Click for virtual tour: http://client.audax.com.sg/treasure/2bed/
For 3-bedder, a yard will be provided for laundry purpose. There is also a utility room for storage or can be used it as a spare room.
3-Bedroom Premium is priced from $1,294,000 ($1253 psf)*
Click for virtual tour: http://client.audax.com.sg/treasure/3bed/
*4-Bedroom Premium pricing is from $1,691,445 ($1267 psf)* for a floor area of 1335 sf.
Click for virtual tour: http://client.audax.com.sg/treasure/4bed/
All the bedrooms of the above bedroom types are able to fit a double bed minimum of at least a queen size bed.
*5 Bedroom from $1,880,000 ($1092 psf)*
Click for virtual tour: http://client.audax.com.sg/treasure/5bed/
All the bedrooms in a 1722 sf 5-bedder have at least 10 sq m area, which is equivalent to a master bedroom size of other condominiums.
I like the bathrooms especially, which are equipped with good storage spaces behind the mirrors and below the water basins.
Treasure at Tampines provides a conducive environment, while sitting on a large site area.
The project is built by a renowned developer, who knows the wants and needs of Singaporeans. It is located in a matured estate with good conductivity and is among the cheapest condo you can find for a new launch right now. It has great potential for high rental yields and capital appreciation. Its low entry price will enable you to formulate a good exit strategy and to reap the return of investment when you decide to sell eventually.
If you plan to make your next home in Tampines, check out the Treasure at Tampines website
or call me at +65 94742623
You may visit https://www.christinekangproperties.com/new-launches for information on other new launches.
Visiting of showflat is by appointment at a click below :
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A Real Estate professional with proven records and 10 years’ experience in helping clients to acquire their dream homes and fulfilling their property investment goals. Skilled in facilitating purchase, sale and leasing of commercial, industrial, private residential and HDB properties, I enjoy my interactions with clients and find joys and sense of fulfilment whenever they found the properties that met their needs or when they benefited from their investments in the properties that I had helped them purchase.