Background

Royalgreen, the exciting new launch in the super-coveted prime District 10 area of Bukit Timah, sits on the site previously occupied by Royalville condo, beside Villa Azura and Eden Park. This unique selection of 285 exclusive 2, 3 and 4-room units, nestled in the nook of Bukit Timah and Anamalai Ave, is a stone’s throw from the F&B options on Sixth Avenue and the hipster enclave of the Grandstand at Turf Club Road. Accessibility in the area is well-served by Sixth Avenue MRT station just a few minutes’ walk away too.

A freehold 174,000 sqft low-rise low-density development, it was acquired by Allgreen Properties in a collective sales tender for $477.94 million,beating out 8 other bids. At an estimated land PSF PPR of $1960, breakeven is an estimated $2581. So you can expect launch prices of about $2656 to 2968 PSF at the 15% margin level.

RoyalGreen Condominium Fact Sheet

Property Type: Private Condominium

Tenure: Freehold condominium

Address: 2, 2A, 2B, 2C, 2D, 4, 6, 6A, 6B Anamalai Avenue

TOP: Dec 2022

Site Area: 16,181.5 sqm/ 174,176.21 sqft

Blocks: 8

Units: 285 units

Floors: 5

Developer: Allgreen Properties

Unique Selling Points

• Location
  Bukit Timah is the jewel in the crown of District 10. It is as prime a location as you can get in Singapore, making it one of the most densely-clustered areas for deluxe condos. But why does Bukit Timah have more luxury condominiums than almost anywhere else in Singapore? Is it the proximity to natural greenery like Bukit Timah Nature Reserve and the UNESCO World Heritage site that is the Singapore Botanic Gardens? Or perhaps it is the draw of the future potential of the area. An elevated Sky Park over the Bukit-Timah-Rochor Green Walk is in the URA masterplan for the area, as are canal diversions to create rain gardens and wetland nodes for flood protection. Finally, further along Bukit Timah Road, the Beauty World integrated facility will be developed to incorporate a community club and library, indoor sports hall, elderly facility and redeveloped market and hawker centre.

• Top Schools Nearby
  Or perhaps it is just the draw of FIVE of the very top Primary Schools in Singapore that draws the ambitious to Bukit Timah. With Henry Park, Methodist Girls’, Nanyang, Pei Hwa Presbyterian and Raffles Girls’ Primary School all within 1-2km, you will be hard-pressed to find better elite schooling options in Singapore.

• Abundance Of Condo Facilities
  Location-wise Royalgreen is hard to beat. But let’s focus on the development itself. Inspired by the luscious greenery of Bukit Timah, Royalgreen also takes a page out of its natural surroundings, with it’s natural elegance that focuses on premium luxury fittings and Smart Home features, for a nurturing family looking for a home to raise children to realise their full potential.
  Royalgreen is definitely designed to woo well-heeled families, used to having top-notch restaurants and dining options handy in the neighbourhood, as well as the full range of goods and services they might require, all close at hand, whether it is the funky hipster joints at The Grandstand, Holland Village or Dempsey, or top-tier kids enrichment centres.
  Facilities and amenities wise, Royalgreen’s grounds include two landscaped courtyards, three play areas for children, two BBQ pavilions, function and party rooms, reading room, gym, spa, lap and children pools.

• Credibility Of Developers

  Developed by Allgreen Properties and expected completion in Dec 2022, Royalgreen is the last of the trio in their Bukit Timah Collection, also consisting of Juniper Hill and Fourth Avenue Residences, which we’ll be taking a closer look at later. With over 30 years’ experience and a mix of landed and condos in Singapore and China in their portfolio, Allgreen is responsible for a such projects in Singapore like Claremont, Cairnhill Residences, Bukit Regency, Blossoms@Woodleigh, Binjai Crest, Baywater and Amber Point. Allgreen is also behind commercial developments like Great World City, Tanglin Place and Tanglin Mall.

New launch comparison

Entry-level 2-bedder for families with zero or one child is already over half sold, with about 80 units still available. The area for these units range from 635 to about 830 sqft and have been going for $2562 to $2974 PSF. Smaller 635 sqft units were selling initially in early 2020 for $1.75m. By the end of 2020, quantums had fallen to $1.61 and $1.66, picking up once again in 2021. Prices in 2021 for the smallest units ranged from $1.71m to $1.80m, with the highest record of $1.815m in March of 2022.

The 3-bedder is the configuration that has attracted the most interest, with over 90% already sold! If you’re really keen, there are about 8 units left. The area ranges from 721 to 1076 sqft and has been selling for $2690 to $2869 PSF. The smallest 3-bedders sold in mid 2021 for $1.81 to $1.99m, but cracked the $2m mark in late 2021 and has been steady at about the $2 to $2.12m range this year. But with so few units left, prices will probably remain high for the 3-bedder. 

As for the 4-bedders, there are only 22 units in Royalgreen, and about 9 are still available. They are between 1260 and 1475 sqft and are going for $2645 to 2939 PSF. The earliest transacted prices in Feb 2021 for the smaller 4-bedders were $3.5 to 3.7m. Of all the 4-bedders sold, 10 were the 1432 sqft units. So let’s take a look at that example, since it gives us the most data. Since Jan 2021 to Oct 2022, prices have ranged between the $3.9 and $4.1m mark, save for a solitary outlier of $3.786m in Feb 2021.

Other Nearby Condos 

We turn our attention to other similar condos in the vicinity. We’ll be looking at Fourth Avenue Residences, The Floridian, Cascadia, Nexus and Tessarina. Among these, only Fourth Avenue is 99-year leasehold, the rest are all like Royalgreen, freehold.

2 Bedroom

Expect to see a difference between freehold Royalgreen and 99-year Fourth Avenue. Both developments have 2-room units that are 712 sqft so let’s look at how those compare. Earliest URA record of the Fourth Avenue Residences 712 sqft 2-bedder was in Jan 2019, and in Oct of the same year for Royal Green. In the 1st month of recorded sale, Royalgreen quantums were 9-10% higher. At the last recorded sale of these type of units, Royalgreen sold at $2,005,000 in Jan 2022, and in Feb 2022, Fourth Avenue sold for $1,914,780, which is only about 4% less than Royalgreen! It would certainly seem that even at a 4% premium, Royalgreen would be a better deal, with for a freehold instead of 99-yr leasehold property.

Among the four freehold condos, Floridian is the newest. So let’s look at that first. Last 2-bedder transacted there was in April as well, a larger 958 sqft unit at $2098 PSF, which would seem like a good deal for the buyer, but would you pay that for a 10-year old apartment? When we look deeper and analyse it in terms of the quantum, both deals are about the same, $2.009m for the Floridian, and $2.037m for Royalgreen. The Floridian maybe bigger by 237 sqft but it will also be over 10 years older. Current asking prices for 840 sqft 2-bedder at Floridian is $1.9-$2m. At Royalgreen, $1.9m will only get you a 667 sqft 2-bedder. 

Similarly at 11-year old Cascadia, a 2-bedder at an in-between size of 874 sqft went for less than $2000 PSF in Dec of last year which will certainly be tempting to buyers. Even currently, it is possible to 883 sqft 2-bedders in Cascadia for $1.85m, which at $2095 PSF is not that far off. 

At the end of the day, it may simply come down to a matter of zoning, because while Cascadia (together with Nexus and Floridian) are District 21; Royalgreen, Fourth Avenue Residences and Tessarina are in the more coveted District 10. And while this may not matter so much to family occupiers more concerned about proximity to schools for instance, for the pure investor concerned with a good exit strategy, a condo in District 10 may just tip the scales sufficiently in the favour of condos like Royalgreen.

Our last two condos are Nexus and Tessarina, completed in 2007 and 2003 respectively. By comparison these are 15 years and 19 years old condos, which is really hard to make a meaningful comparison with Royalgreen.

3 Bedroom

In the comparison between Royalgreen and Forth Avenue Residences, the 99-year condo last transacted in April for $2338 vs $2822, both for units of about 1000 sqft. This works out to be about a 20% premium for the freehold Royalgreen, bigger than that for the 2-bedder, which is not surprising given the popularity of 3-room units. In terms of the quantum, look for Royalgreen to set you back about $2.8m, versus $2.588 for the 99-yr Fourth Avenue.

If the 20% premium for freehold is too difficult to swallow, then maybe it’s time to consider the freehold Floridian, which is 10 years old but also recently transacted in April for just over $4m for a 1831 sgft 3-bedder, giving it a PSF for $2190. Certainly with all the recent movement in the Floridian, it definitely looks like a real contender if you are considering a condo in the area. For reference, 3-room units are Floridian are still available at fairly competitive prices. For instance, you can still buy a 936 sqft unit for about $2.1m, which works out to be about $2244 PSF.

Elsewhere, Cascadia’s last 3-bedder also transacted in April, which looks to have been a hot month! The 1184 sqft unit went for just under $2000 PSF. So if you’re looking for a 3-bedder at Royalgreen without realising that 90% has been snapped up, definitely do check out Floridian and Cascadia for an alternative. Whilst there aren’t many on offer, you may still be able to find a 1141 sqft 3-bedder in Cascadia going for $1.98m or $1735 PSF.

4 Bedroom

Where the 4-bedders are concerned, Royalgreen still has a number unsold. It was last transacted at almost $3000 sqft for a 1259 sqft apartment in April, which works out to be $3.7m. You have to wonder how they managed to carve out 4 rooms from an area of 1259 sqft.

Consider instead the last transaction at Floridian again, a 1850 sqft 4-bedder which sold for $3.948m at $2134 psf, compared to a 1259 sqft unit that sold for $3.7m. $250k for 600 sqft more of space, which makes a lot more sense for 4-rooms.

The other condo worth considering is Cascadia, where a 1582 sqft 4-bedder sold for $1757 psf in Nov of last year, a quantum of $2.78m, which is definitely worth considering. Unfortunately we’re not seeing many owners looking to sell right now. 

Exit strategies

Royalgreen, by virtue of it’s excellent location to top Primary Schools is an awesome investment. Families will find the commute to school and work convenient with the top schools nearby and the MRT so close by. If after a few years and the kids having graduated, and you consider moving, whether you decide to sell or rent out, prospects are good either way. With the location of Royalgreen in Bukit Timah, there will always be a demand from parents looking to send their children to the top schools, whether it is for sale to Singaporeans or foreigners who want access to the top Singaporean schools. 

If you’re shopping around the area, definitely do check out the other freehold condos in the area, particularly Floridian and Cascadia. Where the 3-room apartments are concerned, with only 10% left at Royalgreen, it’s definitely worth having a look at those alternatives.

Conclusion

The upside of Royalgreen is it’s location in District 10 will definitely be advantageous in the case of resale. It’s location and proximity to MRT is also hard to beat. Design and amenities wise, it’ll also be hard to say no to the elevated tennis courts and other facilities, simple and practical layout, beautiful and generous low-density surroundings. With it’s practical layout and smaller units, potential buyers will definitely be tempted by the smaller quantums. And of course being in the Bukit Timah area, all the amenities you could wish for will be conveniently closeby.  And for the kids, there’s an easy commute to school everyday, with all the top schools in the vicinity.\

Can also end off by saying why is it worth to look at royalgreen as oppose to the other older condo? is there an edge? perhaps is the absolute price is lower for the same layout type? since newer condo tend to be lower sqf so the price will be lower, or you will want to buy there because of the proximity to MRT? or the elevated tennis court? or low density?

Contact us

The above is the analysis for Royalgreen, a mega project in district 10.For more information and advice, just contact Home Quarters by going over to www.homequarters.com.sg or send us an email at homequarterssg@gmail.com or visit our social media on YouTube, Facebook and Instagram or call K.C. Ng at 88092889. Remember, for all your real estate needs, call home quarters and start packing!