Aurea New Launch Condo Review – Honest Review

Introduction

There’s a saying in Poker. “If you look around the table and you can’t identify the sucker than you are most probably it “

This blunt but brutally honest statement often comes to mind whenever I am working on a new launch condo review article. 

In the new launch condo value chain, there are several parties that are financially incentivised to coax you into a purchase decision. Established media publishers, developers and property agents are all part of this well greased flywheel. 

As a buyer / investor / allocator of your own money. Your goal is to tread with caution and purchase the unit that will make the most money for you, not the developer or the agent.

Understanding the financial motivation of the writer before reading reviews

In the course of your research for Aurea you will come across two types of articles.

1. Published by professional publication – eloquently telling you why you should purchase Aurea – most probably funded by developer in some way or the other
2. Published by agents – motivated to get you to purchase Aurea as well for commission

We are no better, we fall into the 2nd category. But we chose to adopt a different approach. 

An objective one that seeks to factually take apart and validate the Aurea’s investment case with the hope of pointing our readers and clients towards the best deal.

We are not altruistic, this is simply how we differentiate ourselves. 

Quick Snapshot of Aurea as development 

Keeping this article within readable length, We will quickly set the context with some basic information about Aurea.

We will do the bulk of our discussion on Aurea’s investment case and validate it for its strengths and weaknesses.

Quick intro – Decoupling Expertise

Quick introduction, before you decide to commit the next 5 mins reading this article.

We are decoupling expertise, a team of specialist realtors that specialise in helping Singapore property owners derive the best strategy to purchase their second investment property without ABSD.

Aside from decoupling property, we specialise in property research. Helping client that values owning high capital return property, shortlist and identify worthy condo developments to look into

Drop us a text if you like to shortlist prospective properties or confirm your thoughts on a current property

What is the investment case for Aurea ? 

Let’s start by articulating the investment case for Aurea. We will then move on to validate it in later sections. 

These are the narrative on the ground supporting Aurea’s investment case. 

1. Buying into a CCR new launch at prices comparable to recent RCR new launches.
2. Superior quantum and layout efficiency compared to surrounding resale condo in D7
3. Strong rentability
4. URA transformation

#1 – Buying into a CCR new launch at prices comparable to recent RCR new launches.

Here’s a breakdown of Aurea’s launch prices by bedroom type in comparison with other recent new launches. 

Unit Type – 2 Bedroom 

Unit Type – 3 Bedroom

Unit Type – 4 Bedroom 

Aurea’s 2 Bedroom unit type – makes sense if you are purchasing for both homestay and investment

Drawing your attention to the 2 bedroom unit type, I would think there is a notable investment proposition for the 2 bedroom units in the Aurea. 

From both a per square foot pricing and purchase quantum standpoint, the 2 bedroom units are priced very close to the recent RCR launches like Orie, Elta and even Chuan Park Residences. 

In terms of purchase quantum, at the range of 1.9 to 2.0 mil, Aurea’s 2 bedroom unit is priced at a premium of only 60k to 120k as compared to 2 bedroom units in Orie, Elta and Chuan Park Residences. 

This potentially makes sense if you are looking to purchase a 2 bedroom unit for both homestay and investment. With a 120k top up, it gives you an opportunity to own a unit in a more central city fringe location as compared to the recent RCR launches. 

More cautionary considerations if you are purchasing strictly for investment

But if you are purchasing strictly for investment and is agnostic to the property’s location and bedroom type. Then it makes sense to think broader. 

Considering the 2 mil quantum required to purchase a 2 bedroom unit in Aurea. There could be other 3 bedroom options available in the OCR area that could bring about greater potential for capital while undertaking less risk. 

We shall dive deeper into this in a later section. 

As a sidenote, refer to our review of Canberra Crescent Residences for insights into another OCR new launch investment opportunity.

Aurea 3 and 4 Bedroom unit type is more for prestige and less for investment

When diving deeper into the average pricing of each unit type in Aurea. You would realise that the price appeal of pricing close to a RCR property ends at the 2 bedroom unit type. 

The 3 and 4 bedroom units are priced at a significant premium when compared to recent new launches. 

These brings about several questionable points 

• Is there even a demand for larger 3 to 4 bedroom units in the CCR ? Will families actually pay a premium to live in the beach road area ?
• With the same budget of 3 mil for a 3 bedder and 5 mil for a 4 bedder are there much better investment options out there ? Potentially you could purchase a landed property

# 2 – Superior quantum and layout efficiency compared to surrounding resale condo in D7

Another proposition for Aurea is that it is superior in terms of layout efficiency and purchase quantum when compared to resale development in the Kallang / Beach Road area.

Citygate, Concourse Skyline, Kallang Riverside and Citylight are closest resale comparables to Aurea.

All of these resale alternatives are characterised with larger than usual floor plates filled with bay windows, large balconies and odd shape layouts.

The larger floor plates result in inflated purchase quantum that makes Aurea purchase quantum looks attractive when viewed in comparison to these resale developments.

Unit type – 2 bedroom

Unit type – 3 bedroom 

Valid point but only makes sense if buyer’s consideration remains strictly within D7

All good with this proposition, but this is only meaningful if buyers are only considering properties within the Kallang / Beach Road area.

Given resale buyers buying into CCR areas are not tied down to a location due to primary schools. Their search criteria would most probably extend beyond the D7 area into other CCR locations like HarbourFront, Tanjong Pagar, Orchard.

When that happens this competitive advantage may not hold water.

The issues we have with Aurea as an investment property 

With 2 of the key investment propositions for Aurea established above, coupled with a proven record of strong rental demand for city fringe properties. 

It may sound compelling to seriously consider Aurea as an investment opportunity. But in our attempt to probe deeper into these propositions, we identified issues that should noted before pulling any triggers. 

They are as follows. 

#1 – There could be better options to consider with a 2 mil budget for a 2 bedroom unit or a 3 mil budget for a 3 bedroom unit

Here’s the thing, we acknowledge that the 2 bedroom unit in Aurea is priced attractively in comparison with other recent 2 bedroom new launches in the RCR area. 

But, given we utilise the same budget and expand our consideration into other resale options in the OCR and even RCR area, the same capital provides us with an opportunity to access resale properties that could potentially provide us with greater potential for capital gain and stability in demand. 

2 mil Budget Alternative

3 mil Budget Alternative

Referencing the 2 sets of alternatives above, these are all properties that are relatively young in lease life, within 1km of a reputable primary school, have got sizable floor plates with efficient layout. 

Most importantly these options cater to resale buyers that are captive buyers, purchasing out of necessity to be located closer to the child’s primary school or for family homestay. 

As compared to the potential exit buyers for Aurea, their consideration set can be much broader and flexible. 

To put things into perspective, consider the case whereby you bought a 2 bedder at the Aurea and are looking to exit to affluent couples without children. Their consideration is not entrenched strictly to the kallang, beach road area.

#2 – How strong or certain is the resale buyer demand for the CCR area ? 

The notion that buyer’s demand for CCR properties will be revived in the near term due to price convergence between CCR and RCR properties is somewhat valid. 

But I believe its impact would be more applicable for smaller unit types like 2 bedroom units and less on 3 or 4 bedroom units that are typically sought after by families purchasing for their own stay. 

Consider the case, if you are a married with no child, you can easily look to move into a 2 bedroom unit in the CCR region, simply for its price and locational appeal. But if you are a parent with a child, you would be tied down with many more considerations like proximity to child school and child care infrastructure.

In short, considering a 1 or 2 bedroom unit as an investment in CCR could potentially make sense. But larger 3 or 4 bedroom units in the heartland still provide greater stability and certainty in demand. 

#3 – Not all CCR locations are viewed equally by buyers

An expansion to the point on the revival of buyer’s interest and demand for CCR properties. Without doubt, we feel that there is room for growth in this area and it could potentially happen in the next couple of years. 

But a point to note is that, buyers do not view all CCR locations equally as viable or ideal residential locations. By convention, CCR buyer’s evaluation criteria revolves around the following 

• The prestige that comes with the address
• The neighbourhood and whether it provides a conducive living environment

With that in mind, CCR locations like Newton, Novena, Rivervalley, Orchard, Harborfront, Bukit Timah ranks higher than Beach road and Bugis which are less conventional CCR residential precincts. 

#4 – How certain and impactful are the URA transformation highlighted

From experience the type of URA transformation that yields the greatest capital appreciation are those that involve the formation of a new township or a new MRT transport line.

This has been proven by the appreciation of property prices in new townships like Woodleigh, Punggol and upcoming townships like Lentor and Tengah.

The URA master plan highlighted for Aurea has got timelines that are less certain and may only be realised in the future.

From an investment perspective, it may be challenging to rely heavily on this as a catalyst for price appreciation.

Will I place my money in Aurea ? 

Back to the big question, will I place my own money on Aurea ? 

Considering the options I have got with a 2 mil budget for a 2 bedder and 3 mil budget for a 3 bedder. It may not be the most optimal investment decision to place my money in Aurea. 

From a risk reward perspective I would consider the following option 

1. Save my ammunition and look out for other launches that are coming up in 2025 – Margaret Drive New Launch, Rivergreen in River valley. 
2. Look into the resale market – consider the 2 mil and 3 mil alternative options that I have set out above
3. Look into balance units for new launches that were launched in 2024. 

Gaining a competitive edge when buying a new launch condo 

Think about it, what does buying a new launch condo entails ? You are essentially sealing a multi million dollar purchase by relying on a developer’s floor plan, a showroom and some assurance from your property agent.

The only way to ensure you place your money in the best development is do your prep work, lots of prep work, lots of research. 

Objectively parsing through facts and numbers to decide if the new launch condo development …

Is it priced fairly ?

Are there any upcoming price catalysts ?

Does it possess fundamental attributes that buyers desire. I.e school, affordability ?

If research is not your cup of tea, the smarter way is to outsource it to someone who enjoys doing it.

Other New Launch Reviews that could be relevant 

• Aurelle of Tampines New Launch EC Review – Is it worth buying ?
• Should you buy Clavon instead of Elta ?
• Elta Clementi New Launch Review – Worth Buying ?
• Parktown Residences Reviews
• The Orie Condo Review – Toa Payoh New Launch
• Springleaf Residences Review – Is this “ulu” condo worth buying ?
• River Green Condo Review – Is This CCR Project Worth Buying ?
• Lynden Woods Condo Review: RCR 2 Bedder Sweet Spot

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