Upcoming new Singapore Executive Condominiums (ECs) launches in 2022

There are 3 new executive condominiums (ECs) excepted to be launched in 2022, they are Yishun Avenue 9 EC, Tengah Garden Walk EC and Tampines Street 62 (Parcel A).

In this post, we are going to cover these 3 potential EC launches, list the pros and cons of each of the locations and projects (where information is available) and give you an idea of the surrounding property prices.

 

North Gaia EC (Yishun Avenue 9)

North Gaia EC is located at Yishun Avenue 9, a short distance away from Yishun interchange/MRT and Northpoint City. 

  • Developer: Sing Holdings
  • Tender winning date: Nov 2020
  • Expected launch date: Feb 2022
  • Expected TOP: 2025
  • Expected price at launch: to be confirmed

Location map

North Gaia EC Yishun Ave 9 Sing Holdings
Amenities
  • Northpoint City shopping centre (3-4 bus stops away)
  • Junction Nine shopping centre (1 bus stop away) 
  • SAFRA Yishun (3-4 bus stops away)
  • Yishun Park and pond (3-4 bus stops away)
  • Khoo Teck Puat hospital (3-4 bus stops away)
Nearest transport options
  • Yishun MRT station (3-4 bus stops away)
Primary schools within 1 and 2km
  • None

Property prices of surrounding ECs

Surrounding North Gaia EC in the Yishun, Khatib, Canberra areas are a number of other ECs. 

These ECs are

  • Near Canberra MRT: 1 Canberra (TOP 2015, average psf S$750), The Brownstone (TOP 2017, average psf S$822), The Visionaire (TOP 2018, average psf S$818), Parc Canberra (TOP 2023: aveage psf S$1,101), Provence Residence (TOP 2026, average psf S$1,156), Skypark Residences (TOP 2016, average psf S$804), Parc Life (TOP 2018, average psf S$801).
  • Near Yishun /Khatib MRT: The Canopy (TOP 2014, average psf S$692), Lilydale (TOP 2003, average psf S$586), Signature at Yishun (TOP 2017, average psf S$776), The Criterion (TOP 2018, average psf S$785)

The ECs under construction are Parc Canberra (TOP 2023) and Provence Residences (TOP 2026).

Notably, these ECs have a higher average psf of S$1,101 and S$1,56, compared to the approximate average range of S$700 to S$800+ psf for other older ECs which TOP'd between 2014-2018.

This suggests that a new higher benchmark in EC prices have been set, with the rate hovering around the S$1,100 psf mark.

The chart below shows the average psf prices for ECs in the Yishun, Canberra, Khatib area. Prices have been rising, and did show a marked increase between 2019 and 2020.

Average psf prices for ECs in the area

EC prices in the yishun area

 

Tengah Garden Walk

Tengah Garden Walk EC is located in Tengah new town in the western part of Singapore. 

The EC is likely to be well connected to multiple MRT stations that are under construction - Tengah, Hong Kah and Tengah Plantation stations.

  • Developer: CDL and MCL Land
  • Tender winning date: May 2021
  • Expected launch date: Aug 2022
  • Expected TOP: 2025/26

Location map

Tengah Garden Walk EC

Amenities
  • West Mall at Bukit Batok station
  • Further away, there are multiple malls at Jurong East, namely Westgate, Jem, IMM and Big Box
Nearest transport options
  • Tengah, Hong Kah and Tengah Plantation stations (all under construction)
Schools within 1 and 2km
  • None as Tengah is a new town that is presently under construction

Development of Tengah by HDB

When Tengah new town is complete, the region is expected to house about 42,000 new homes across 5 residential districts, each designed according to their unique character.

The development of Tengah will revolve around nature and the community; one where residents can experience being “At Home with Nature”.

Tengah will be characterized by 5 districts.

Plantation districtPlantation district TengahGarden district

Garden district Tengah

Park district

Park district tengah

Brickland district

Brickland district tengah

Forest hill district

Forest hill district tengah

Property prices of surrounding ECs

There aren't many ECs surrounding the Tengah Garden Walk EC since the area is an upcoming new town. The closest few ECs are Summerdale near Boon Lay MRT station (TOP 2000, average psf S$587), Lake Life near Yuan Ching Rd (TOP 2016, average psf S$872), Westmere near Jurong East MRT station (TOP 1999, average psf S$714) and The Dew (TOP 2003, average psf S$713).

Notably, majority of the ECs are old, having TOP'd in the late 1990's or early 2000's. the only main comparable is Lake Life which TOP'd in 2016 and has an average psf of S$872. 

This rate is quite comparable to other ECs of similar age.

The chart below shows the average prices of the 4 ECs mentioned earlier. Prices have slightly fallen since 2015. The spike in the quarter is due to the launch of Lake Life EC. Unfortunately for most of those buyers, prices today are similar to what they paid for during launch.

Average psf prices for ECs in the area

Tengah Garden Walk surrounding EC and prices

 

Tampines Street 62 (Parcel A)

 The upcoming EC at Tampines Street 62 (Parcel A) is located in a new town in Tampines North. Even though the road name is Tampines, the location of this EC is nearer Pasir Ris MRT.

The EC is just off the Tampines Expressway (TPE) and the cluster of condominiums in Pasir Ris (D'Nest, The Palette, Coco Palms, NV Residences, Livia, Elias Green Condominium).

  • Developer: Qing Jian
  • Tender winning date: July 2021
  • Expected launch date: Oct 2022
  • Expected TOP: 2025/26

 Location map

Tampines St 62 Parcel A EC Qingjian 

Amenities

  • Tampines Mall, Tampines One, Century Square, Elias Mall, White Sands malls (5-6 bus stops away) 
  • Our Tampines Hub (5-6 bus stops away)
  • Pasir Ris Town Park (3-4 bus stops away)
  • Downtown East (3-4 bus stops away)
Nearest transport options
  • Tampines interchange (5-6 bus stops away)
  • Pasir Ris interchange (3-4 bus stops away)

Primary schools within 1km

  • Angsana primary
  • Elias Park
  • Tampines North

Primary schools within 2km

  • Casuarina
  • Chongzheng
  • Gongshang
  • Meridian
  • Park View
  • Poi Ching
  • St Hilda's
  • Tampines Primary
  • White sands primary
  • Yumin

 Property prices of surrounding ECs

 There have been many ECs launched in the Tampines area. The ECs are

  • Near Tampines: Arc at Tampines (TOP 2014, average psf S$772), Parc Central Residences (TOP 2024, average psf S$1174), Pinevale (TOP 1999, average psf S$638), The Tampines Trilliant (TOP 2015, average psf S$840), Citylife @ Tampines (TOP 2016, average psf S$831), The Eden at Tampines (TOP 2003, average psf S$694)
  • Near Pasir Ris: Whitewater (TOP 2005, average psf S$702), Belysa (TOP 2014, average psf S$742), Eastvale (TOP 1999, average psf S$648), Sea Horizon (TOP 2016, average psf S$814), Watercolours (TOP 2014, average psf S$754), The Esparis (TOP 2005, average psf S$700)

There is a range of new and old ECs in the area, with the newer ones being Arc at Tampines (TOP 2014), Trilliant (TOP 2015), Citylife (TOP 2016), Sea Horizon (TOP 2016), Belysa (TOP 2014) and Wateroclours (TOP 2014).

The psf prices for these newer ECs range from S$700 to S$800+ psf.

Average psf prices for ECs in the area

Tampines st 62 parcel A EC prices

 

What next for potential EC buyers?

If you're a potential buyer on the lookout for an EC, what are the things you should look out for?

1. The market is presently a seller's market i.e. buyers may have to fork out more for their desired unit. This dynamic is down to multiple reasons such as COVID-19 causing people to move out from their family's house, look for their own place, a larger space etc. At the same time, those who already have a house they are comfortably staying in are less willing to part from it, or if they want to, are asking for a high price.

2. Long construction times due to COVID-19 impacting the availability of construction workers. HDB has set a TOP date of 2028 for their recent sale of Rochor area HDB flats; that's 7 years of wait for homebuyers. Add a minimum occupation period of 5 years, and buyers would be staying in their unit until 2033. For those interested to upgrade, this is something you need to bear in mind as you would be locked in for a long period of time.

3. Potentially rising interest rates. While this is out of a home buyer's control, there is a risk of rising interest rates in Singapore.  

This concludes the post on upcoming ECs in 2022. If you are interested in any of these ECs, drop us a message and we will go through the pros and cons of each one, and guide you through the process of getting one that you like. Alternatively, if you are anywhere in your property journey, feel free to reach out to us for advice too.

 

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