Project Launch Date
Showroom viewing starting from 31 Oct 2024
Booking day on 13 Nov 2024
Gain a competitive advantage by starting your prep work early.
Be the first to view the showroom, review site plan and analysze the best stacks for investment.
Drop us a text and we will seek to help you expedite the preparation process.
Showroom Location
Address : Actual site itself. Lorong Chuan MRT. Exit B
Revised for Latest Information
Primer – this article will be constantly updated to reflect the latest information for Chuan Park Residences as new information is being released by developers.
Introduction
It would be safe to assume that you are in-market looking to consider the purchase of a new launch condo.
The word on the ground from friends and property agents have brought your attention to Chuan Park, one of the few new launches with unit size greater than 900 units in 2024.
Quick Intro – Decoupling Expertise
Before you commit the next 5 mins reading this article.
We are Decoupling Expertise, a boutique real estate investing consultancy that focus solely on helping our readers research, shortlist and purchase investment properties.
Specialisation is key for us, and we are known for writing extremely long form articles that seeks to provide value upfront.
Looking to invest in a new launch ?
Deploying your capital into an optimal new launch project is crucial at this point.
It helps to have a detailed comparison of all the pros and cons across all new launch opportunities available.
Drop as a whatsapp text and we will revert with a 5 factor comparison table of the best new launch opportunities available at the moment.
The focus of this article
Putting emotions, marketing messages and sales pitches aside. The process of finding the best new launch condo generally falls within a 3 part framework.
Part 1 – Prep Work (focus for today !)
In the prep work phase, the goal is to be objective. Shoving aside all the hype being generated and objectively reviewing the fundamentals of the project, comparing it against other comparable condo developments.
Jumping the gun, entry price is superior over all criteria, finding the right unit at the right price always outperforms finding the best unit that is overpriced.
You want to only work with facts, numbers and lots of comparison tables in this phase.
This is the key focus of this article, to help you get your prep work done in the shortest time possible.
Part 2 – Ground Work
Aside from being an armchair researcher, this phase requires you to walk the ground. You will need to work with a competent new launch condo specialist to visit the showrooms.
The key takeaway in this phase is to have detailed understanding of the site plan, unit type and floor plan.
You must know which is the value stack, which is the premium stack, which is the stack to avoid and which unit type has the best layout.
Part 3 – Execution
Keeping the article within length, execution entails you executing your gameplay, looking to seize a unit during balloting day.
As launch prices are only announced the day itself, it is important to have a agent that is able to work on the fly, calculating prices with reference to your budget on the fly.
Project Highlights
- Development Name : TBC (currently known as Chuan Park Residences new launch)
- Land : redevelopment of land parcel formerly owned by Chuan Park Condo
- Land size : 400,588 sqft
- Unit size: 916 units (mega development)
- Stacks : 2 blocks of 19 storeys, 2 block 22 storeys
- Developer : Kingsford Group and MCC Land Singapore
- Location : 240 Lorong Chuan, S556743
- MRT : right next to Lorong Chuan MRT
Location
The project is located at Lorong Chuan and is a redevelopment of the former Chuan Park Residences.
Plus point for connectivity as it is located 1 stop away from 2 MRT interchange. It is located 1 stop away from Serangoon MRT Interchange for North East Line and Bishan MRT, which is the interchange for North South and Circle line.
Additional plus point for it being located next to the MRT station.
Project Facing
All external facing blocks are either north or south facing, with north facing unblocked landed estate. South facing blocks will be facing neighbouring development Springbloom, the Scala and Nanyang JC.
Expect the north facing blocks to be priced with a premium, together with internal pool facing stacks.
We will cover the price differences as soon as launch prices are announced to identify the premium to be paid for a prime facing stack. Consideration should also be made to consider if future buyers are willing to fork out additional cost to purchase a premium unit when reselling.
Plot Density
When it comes to plot size, the key is to look out for sizable land size but low density development. The ideal is to own a unit in a development with sufficient space being allocated for the facilities and common living spaces.
You should try to avoid new launch developments that are densely park, with little space in between blocks and facilities. From our experience, when the development has been fully completed, the reselling experience tends to be compromised when you see facilities and blocks being densely packed together comprising privacy and the grandeur of the development.
If you have visited Jadescape, based on consensus amongst readers, Jadescape is one development that is well spaced out with ample space for greeneries and facilities. Referencing the table below, Jadescape sits on a land plot of similar size to Chuan Park Condo and shares similar plot density.
So this is a plus point for Chuan Park Residences
| Development | Plot size (sqft) | No of Units | Plot Ratio |
| Chuan Park Residences New Launch | 400,000 | 916 | 2.1 |
| The Scala (Neighbouring Chuan Park) | 149,374 | 468 | 2.8 |
| Grand Dunman | 271,619 | 1008 | 3.5 |
| Jadescape (Ideal) | 408,927 | 1206 | 2.8 |
Developer
The key factors to look out for when reviewing the developer of a new launch development is the following.
Track record of developing quality project
The goal is to be mindful of whether the developer has a track record of developing units with little defects and developing units with good layouts.
For this BCA has a database that tracks the performance of developers developing new launches. It rates the developer under a scale of 1-6, known as conquas band.
Both developers Kingsford group and MCC Land Singapore have got significant experience in delivering mega condo developments. But it helps to be mindful that Kingsford group have previously had multiple defect issues with the development of Kingsford Waterbay. And its latest new launch, Normanton Park is still undergoing evaluation.
Kingsford Group Developer Track Record
| Development | No of units | Conquas Score |
| Kingsford Waterbay | 1157 | 5 |
| Kingsford Hillview Peak | 512 | Not available |
| Normanton Park | 1840 | Under Assessment |
MCC Land Singapore Developer Track Record
| Development | No of units | Conquas Score |
| Queens Peak | 736 | 1 |
| The Poiz Residences | 731 | 1 |
| The Alps Residences | 626 | 2 |
Developer’s Pricing Strategies
The second key factor to look out for will be the historical pricing strategies that developers have previously adopted.
Especially, for large size projects with a significant number of units to be sold. Developers could potentially reduce its selling price to a price below launch day pricing, if unit take up rate is not as strong as expected.
It is a mixed bag when it comes to pricing strategy for Chuan Park Residences developers.
Kingsford Group has displayed both instances whereby prices have been staged consistently upwards after launch day for Normanton Park, which is ideal. But they have also adopted a price discount strategy for Kingsford Hillview Peak, when unit take up rate is sub optimal.
Kingsford Hillview Peak Price Discount
For those that have missed participating in the launch date balloting, the next opportunity to enter would be when there is any discount being given by the developer after launch. For that drop us a whatsapp text, we will provide a non obligatory update if there is any potential price drop from the developer.
Proximity to reputable schools
Located in the OCR area, future buyers are predominantly family purchasing for their own stay purposes. Being located within the 1km radius of a reputable primary school is a major draw for buyers that are parents.
For this aspect, Chuan Park New Condo is average from a reputable school standpoint. It is within 1km radius of 6 primary schools of which, 1 of them is ranked pretty decent in terms of primary school popularity.
But it does not have the outstanding draw of an oversubscribed primary school that parents will pay a premium for to be located within 1km radius of these schools.
Think
- Jadescape – 1km radius of Catholic High Primary
- Woodleigh Residences – 1km radius of Maris Stella Primary
- Treasure Trove – 1km of Nan Chiau Primary
Primary School 1km to Chuan Park
| Primary School | Oversubscription (Application / Vacancy) – Based on Phase 2B |
| St Gabriel’s Primary School | 0.71 |
| YangZheng Primary School | 0.41 |
| CHIJ Our Lady of Good Counsel | 0.63 |
| Zhong Hua Primary School | 0.03 |
| First Toa Payoh Primary School | 0 |
| Kuo Chuan Presbyterian Primary School | 1.74 |
Top Reputable Primary School in Singapore
| Primary School | Oversubscription (Application / Vacancy) – Based on Phase 2B |
| Nan Chiau Primary School | 1.93 |
| Nan Hua Primary School | 1.9 |
| Catholic High School (Primary) | 2.15 |
| Holy Innocents’ Primary School | 2.38 |
| Ai Tong School | 2.4 |
| Maris Stella High School (Primary) | 1.67 |
| Rulang Primary School | 1.7 |
As a side note if investing in condo proximate to reputable primary school is your key investing strategy. The following articles could be relevant to you.
- Condo near rosyth primary
- Condos within 1km of Catholic High – Which is the best ?
- Best condo 1km from Nan Chiau primary school
Supply and demand for Lorong Chuan
Lorong Chuan area is a mature estate known to be dominated by private estates and landed property. It provides a premium draw, similar to Serangoon Gardens.
From a supply perspective, there hasn’t been a new launch for the last 5 years in the area. Hence the word on the ground that there is significant pent up demand for the area.
This is coupled by the fact that the 3 bedroom units in the area are predominantly owned by owners with children going to school in the area, hence you will not see significant sale listings on property portal with 3 bedroom units in Lorong Chuan for sale.
To get a grasp of the demand and supply condition in the area, we conducted a dipstick analysis of the listing available in comparison with sales volume of development in the area.
Supply based on property portal listing
| Location by MRT Station | No of 3 bedroom units Listing available | No of 2 bedroom units Listing available |
| Lorong Chuan | 55 | 58 |
| Serangoon | 96 | 113 |
| Kovan | 113 | 143 |
| Bishan | 347 | 195 |
| Hougang | 80 | 105 |
Demand based on The Scala 2 bed sales volume and 3 bed sales volume
| Development | Location | No of Listing | Sales Vol | Absorption Rate (Sales / No of Listing) |
| The Scala | Lorong Chuan | 19 | 10 | 0.53 |
| The Chuan | Lorong Chuan | 1 | 2 | 2.00 |
| Forestwood | Serangoon | 15 | 11 | 0.73 |
| Riverfront Residences | Hougang | 121 | 44 | 0.36 |
| The Florences Residences | Hougang | 150 | 78 | 0.52 |
Referencing the combination of demand and supply indicators above, we can see that both Lorong Chuan and Serangoon area have a healthy demand and supply condition, with sales volume / rate outstripping listings available on major property portals.
Latest Update on effect of GFA Harmonisation on Chuan Park Residences
Note the sections below are written prior to latest information being launched for Chuan Park Residences New Launch.
It is confirmed that the project is not affected by GFA Harmonization, as its development plan was submitted before the formalization of the GFA Harmonization guideline.
Chuan Park Residences – Estimated Launch Price
Land Cost and Breakeven Cost
Given that the launch prices of Chuan Park have yet to be released, we will develop an estimate for it by using the commonly applied markup of 15% to its land cost. 15% is the average markup applied by developers for most new launches.
| Developer’s Markup | Breakeven Cost | Estimated Launch Price |
| 10% | 2,229 | 2,452 |
| 15% | 2,229 | 2,563 |
| 20% | 2,229 | 2,675 |
| 25% | 2,229 | 2,786 |
Latest Developer Indicative Price
Refer to the following for latest indicative price released by developer.
- 2 Bedroom – 700 sqft – Starting from $1.5x mil – Starting from $21xx psf
- 2 Bedroom plus study – 732 sqft – Starting from $1.6x mil – Starting from $22xx psf
- 3 Bedroom – 915 sqft – Starting from $2.1x mil – Starting from $23xx psf
- 4 Bedroom – 1335 sqft – Starting from $3.1x mil – Starting from $23xx psf
- 5 Bedroom – 1550 sqft – Starting from $3.7x mil – Starting from $24xx psf
Determining if the entry price for Chuan Park Residences is good
Mentioned earlier, entry prices have an outsized role in determining if you make money from a property.
The best way to rationalise and determine if the property is fairly priced, underpriced or overpriced is to compare it against the psf pricing of its comparable alternatives.
Put yourself in the shoes of your future buyer add 200 psf to the target new launch price and its comparable new launch and resale property, and consider if the price is attractive.
In the section that follow, we seek to cover all price comparison between Chuan Park new launch and all possible comparables
- Comparison with other new launches
- Comparison with TOP condos
- Comparison with resale condo in Lorong Chuan
- Comparison with upcoming new launch and their estimated pricing
Price comparison with comparable new launches
In this section we will plot out the price comparison of Chuan Park residences new launch vis a vis new launches that have already been launched in 2023, 2024.
The idea is to understand the price disparity between Chuan Park’s Upper bound comparables, located in more premium locations.
And Chuan Park lower bound comparables, these are developments located in less central locations as compared to Chuan Park Residences.
Similar estimates was utilised for 2 Bedroom unit size.
| Development | Estimated Launch Price (15% Markup) | GFA Harmonization | Square footage of smallest 3 Bedroom | Quantum – 3 Bedroom | Square footage of smallest 2 Bedroom | Quantum – 2 Bedroom |
| Chuan Park | 2,563 | Pre Harmonization | 915 | 2,345,145 | 700 | 1,794,345 |
Upper Bound New Launch Comparable
| Project Name | Launch Price | GFA Harmonization | Square footage of smallest 3 Bedroom | Quantum – 3 Bedroom | Square footage of smallest 2 Bedroom | Quantum – 2 Bedroom |
| The Reserve Residences | 2,492 | Pre Harmonization | 936 | 2,332,512 | 560 | 1,395,520 |
| Grand Dunman | 2,539 | Pre Harmonization | 926 | 2,351,114 | 667 | 1,693,513 |
Referencing the comparison tables above, the quantum gap between a 3 and 2 Bedroom unit in Chuan Park Residences remains healthy when compared to a 3 bedroom unit in Grand Dunman and Reserve Residences
Similar or Lower Bound New Launch Comparable
But the purchase quantum comparison tells a different story when comparing against comparable OCR new launches that was launched in 2023 and 2024.
Chuan Park Residences falls into the premium priced category amongst OCR new launches. It has to carry the burden of setting benchmark purchase quantum for new launch in the Lentor area.
Having said that it is well noted that Lorong Chuan offers a much more central location than Lentor.
| Project Name | Launch Price | GFA Harmonization | Square footage of smallest 3 Bedroom | Quantum – 3 Bedroom | Square footage of smallest 2 Bedroom | Quantum – 2 Bedroom |
| J’Den | 2,476 | Pre Harmonization | 1141 | 2,825,116 | 710 | 1,757,960 |
| Lentor Mansion | 2,274 | Post Harmonization | 818 | 1,860,132 | 700 | 1,591,800 |
| Lentoria | 2,132 | Post Harmonization | 915 | 1,950,780 | 700 | 1,492,400 |
| The Lake Garden Residences | 2,132 | Pre Harmonization | 926 | 1,974,232 | 592 | 1,262,144 |
Price comparison with comparable resale property that recently TOP
Comparing with new launches that have recently TOP, the outcome is a mix bag.
Affinity at Serangoon out performed as a much more affordable option in a much less central location.
While purchase quantum gap remains healthy when compared against both Park Colonial and Woodleigh Residences.
| Development | Estimated Launch Price (15% Markup) | GFA Harmonization | Square footage of smallest 3 Bedroom | Quantum – 3 Bedroom | Square footage of smallest 2 Bedroom | Quantum – 2 Bedroom |
| Chuan Park | 2,563 | Pre Harmonization | 915 | 2,345,145 | 700 | 1,794,345 |
| Project Name | Launch Price | GFA Harmonization | Square footage of smallest 3 Bedroom | Quantum – 3 Bedroom | Square footage of smallest 2 Bedroom | Quantum – 2 Bedroom |
| AFFINITY AT SERANGOON | 1,770 | Pre Harmonization | 958 | 1,695,660 | 624 | 1,104,480 |
| THE WOODLEIGH RESIDENCES | 2,319 | Pre Harmonization | 850 | 1,971,150 | 592 | 1,372,848 |
| THE TRE VER | 1,886 | Pre Harmonization | 1098 | 2,070,828 | 689 | 1,299,454 |
| THE GARDEN RESIDENCES | 1,804 | Pre Harmonization | 797 | 1,437,788 | 614 | 1,107,656 |
| PARK COLONIAL | 2,219 | Pre Harmonization | 980 | 2,174,620 | 603 | 1,338,057 |
| Forest Woods | 1,935 | Pre Harmonization | 753 | 1,457,055 | 603 | 1,166,805 |
As a side note if purchasing a TOP condo is something within your consideration set, the following article “Buying TOP or Sub sale condo – Is it worth it ?” could be relevant.
Price comparison with Lorong Chuan resale development
As we progress further into price comparison with resale properties in Lorong Chuan.
It is key to note that a new launch may be higher in psf, but it can always trump its older resale counterpart by having a more efficient floor plan.
Developments in era 1, feature old condos with outsized balcony, big yards, aircon ledges, offsetting it cheaper psf pricing with high purchase quantum as you pay for greater Square footage.
Younger developments from the era 2, pre harmonisation, features improved floor plan rid of bay windows and outsized balcony.
It remains to be seen how development condos like Chuan Park Residences supersedes layout efficiency.
Referencing the table below, Chuan Park Quantum remains fairly priced when pit against its older resale counterpart with bigger size entry 3 and 2 bedder units.
| Development | Estimated Launch Price (15% Markup) | GFA Harmonization | Square footage of smallest 3 Bedroom | Quantum – 3 Bedroom | Square footage of smallest 2 Bedroom | Quantum – 2 Bedroom |
| Chuan Park | 2,563 | Pre Harmonization | 915 | 2,345,145 | 700 | 1,794,345 |
| Project Name | Tenure | Completion | No of units | Launch Price | GFA Harmonization | Square footage of smallest 3 Bedroom | Quantum – 3 Bedroom | Square footage of smallest 2 Bedroom | Quantum – 2 Bedroom |
| THE SCALA | 99 yrs FROM 2010 | 2013 | 468 | 1,762 | Pre Harmonization | 1044 | 1,839,528 | 829 | 1,460,698 |
| GOLDENHILL PARK CONDOMINIUM | Freehold | 2004 | 390 | 2,116 | Pre Harmonization | 1313 | 2,778,308 | 926 | 1,959,416 |
| THE SPRINGBLOOM | 99 yrs FROM 1995 | 1999 | 372 | 1,520 | Pre Harmonization | 1302 | 1,979,040 | 1130 | 1,717,600 |
| CHILTERN PARK | 99 yrs FROM 1991 | 1995 | 500 | 1,431 | Pre Harmonization | 1302 | 1,863,162 | 936 | 1,339,416 |
| KENSINGTON PARK CONDOMINIUM | 999 yrs FROM 1878 | 1990 | 310 | 1,586 | Pre Harmonization | 1249 | 1,980,914 | 0 | 0 |
| THE CHUAN | 999 yrs FROM 1877 | 2007 | 106 | 2,120 | Pre Harmonization | 1281 | 2,715,720 | 936 | 1,984,320 |
| AMARANDA GARDENS | Freehold | 2004 | 189 | 2,084 | Pre Harmonization | 1163 | 2,423,692 | 990 | 2,063,160 |
| CARDIFF RESIDENCE | 99 yrs FROM 2011 | 2014 | 163 | 1,529 | Pre Harmonization | 1076 | 1,645,204 | 549 | 839,421 |
Price comparison with upcoming new launches
Take this section with a pinch of salt, all prices for development yet to be launched are estimated based on their breakeven land cost.
We highlighted this section to give you an idea of what are the other new launches available for consideration besides Chuan Park new launch.
From here you can consider if Chuan Park remains your first priority or you would potentially want to wait out for another development.
| Project Name | District | Location | No. of Units | Land Price | Estimated Launch Price – PSF (15% Markup) |
| The Chuan Park | D19 – Serangoon Garden, Hougang, Punggol | Lorong Chuan | 916 | 2,229 | 2,563 |
| Emerald Of Katong | D15 – Katong, Joo Chiat, Amber Road | Jalan Tembusu | 847 | 1,911 | 2,500 – 2600 (referencing Tembusu Grand launch price) |
| Marina View Residences | D1 – Raffles Place, Cecil, Marina, People’s Park | 22 Marina View | 683 | 2,379 | 2,736 |
| Meyer Blue | D15 – Katong, Joo Chiat, Amber Road | Meyer Road | 226 | 2,722 | 3,130 |
| Aurea | D7 – Middle Road, Golden Mile | Beach Road | 186 | NA | 2,830 |
| Lorong 1 Toa Payoh | D12 – Toa payoh | Toa Payoh | 777 | 2305 | 2,651 |
Upcoming Price Catalyst ? – Chuan Grove Government Land Sale
Annouced on 25 June 2024, under URA’s list of GLS site up for tender, there is a plot of land next to Chuan Park Residences, called Chuan Grove to be open for tender in Dec 2024.
Chuan Park Residences’ land was secured at $1,097 psf per plot ratio, and this was pre GFA harmonisation where developers were still able to enjoy a higher profit margin by selling aircon ledges and void spaces to buyers.
Depending on Chuan Gove’s eventual land price, breakeven price and final launch price, there is a chance that it could be priced higher than Chuan Park.
It being a smaller developer built on a smaller plot, could potentially meant a higher density development with less space for facilities and common living area, falling behind the appeal of a mega development like Chuan Park Residences.
This could potentially serve as a natural price catalyst for Chuan Park Residences in time to come.
Floor Plan Review
2 Bed 2 Bath Unit – Floor Plan
The 699 sqft 2 Bed 2 Bath unit without the kinkedin study room could present a more value purchase. It possess a equally efficient layout but at a smaller sized with a more affordable purchase quantum
2 Bed Plus Study – Floor Plan
The 2 Bed 2 Bath premium unit at 742 sqft has a kinked in study area. Depending on the actual build, take heed to review it during your showroom visit to ensure that the space could be of real practical usage. If not a smaller 2 Bed 2 Bath compact unit could present a more affordable purchase quantum with equally if not more efficient layout.
3 Bedroom Unit – Floor Plan
Starting with the 3B2B compact floor plan. Layout is generally efficient, posing all the attributes that is commonly sought after by buyers looking to purchase for family homestay purposes.
Within the compact sized 957 sqft unit, it is managed to housed a housing shelter with enclosed kitchen. Living room is also of a efficient regular shaped layout with no wasted space.
4 Bedroom Unit – Floor Plan
5 Bedroom Unit – Floor Plan
For full details on floor plan
Drop us a whatsapp text and we will send it across.
Latest unit distribution
Looking to consider other new launches beside Chuan Park ?
Drop us a whatsapp text and we can provide some 2nd opinions to confirm your thoughts.
How to select the right new launch agent ?
Selecting the right agent or consultant to work with matters when purchasing a new launch condo.
There is a great difference in terms of the execution capability of an agent that predominantly assists owners in buying and selling home stay property.
Vs
Agents that specialise in helping owners research, shortlist and execute on the purchase of a new launched condo for investment.
Look out for the following capabilities
- Ability to research
- Ability to compare and consider new launch and resale developments
- Experience with stack analysis
- Experience and competent in helping buyers ballot and decide which unit to get on the fly during launch day
Drop us a whatsapp text for a new launch condo discussion.
What are all these official Chuan Park Residences websites ?
These are all sites setup by agents representing the developer.
And there really isn’t a VVIP showroom visit or special price.
It is just a matter of who can work harder and faster to help secure you a showroom visit, accompanied by an experienced “tagger” , the partnering agent that is based in the showroom presenting the unit to you.
Property Research that could be relevant to you
- The Orie Condo Review – Toa Payoh New Launch
- Parktown Residences Review – Are integrated new launch development worth buying ?
- Elta Clementi New Launch Review – Worth Buying ?
- River Green New Launch Condo Review – Is This CCR Project Worth Buying ?
- Springleaf Residences Review – Is this “ulu” condo worth buying ?
