The Orie Condo Review – Toa Payoh New Launch

The goal of this article 

The decision to purchase and select a unit in a new launch condo is an information intensive process. 

New information is being released in phases by developer as the new launch development progresses towards its launch date.

This article seeks to be the Single source of information covering all relevant information that an Investor will need when making a sound investment decision. 

Constantly updated to reflect latest information

This article was last updated on 4 Jan 2025 to reflect the latest indicative launch prices released by The Orie’s developer.

Check back for more information as we will constantly update this article to reflect new information released by developer.

Schedule Launch Date

The project is scheduled to be launched in 4 Jan 2025. 

Its booking date will usually take place 2 or 3 weekends after its scheduled launch date.

Showroom Address

Appointment is made for showroom visit on a first come first serve basis. Drop us a non-obligatory whatsapp text to book an appointment for showroom visit.

All visits are complemented with the following research and on-ground knowledge acquisition procedure to assist you with gathering the latest and most relevant information for the project in shortest time.

• Launch price estimate – financial review, downpayment and mortgage requirement
• On-ground site plan review – highlight pros and cons of different facing
• On-ground stack analysis – highlight pros and cons of different unit type and levels
• On-ground floorplan analysis – highlighting the pros and cons of different layout

Showroom address : Lorong 1 Toa Payoh

Basic Information  

Amongst property investors, The Orie is one of the more notable new launch projects that investors are tracking. 

It stands out as the latest new launch to be launched in a mature estate, Toa Payoh. The last time Toa Payoh saw a new launch development was in 2015, the year in which Gem Residences was launched.

Aside from that there are only 3 notable condo developments in Toa Payoh, with Trevista being launched in 2008 and completed in 2011, followed by older developments like Trellis Towers and Oleander that were completed in 2000 and 1998.

This is a good 14 year gap since Toa Payoh saw a new supply of private condominiums.

Development Name	The Orie
Developer	Cdl/frasers Property/ Sekisui House
Location	118A Lorong 1 Toa Payoh,
District	12
Neighbourhood	Toa Payoh
No of Units	777
No of Block	2
Tenure	99 years
MRT	Braddell MRT, 4 mins walk
Schools	1km radius to Pei Chun Public School
Expected TOP	2028
Site (sqm)	15,743

Location Analysis

Before we move on to touch on the investment thesis for The Orie, let’s understand its location. 

The Orie is located at the former Police Security Command office. Gem Residences is located right next to it, separated by a minor road. It is 430m away from Braddell MRT. 

Proximity to MRT

Amongst the condo developments in Toa Payoh, The Orie is one of the developments that is located closest to a MRT station. This gives it a slight advantage over Gem Residences that is located slightly further away. 

Condo Development in Toa Payoh	Distance from MRT (m)
Trevista	232
Oleander Tower	357
The Orie	430
Trellis Tower	486
Gem Residences	578

Proximity to Reputable Primary School

From a school perspective, the key highlight for The Orie is that it is located within a 1km radius of Pei Chun Public School. 

Take this with a pinch of salt, you should not expect Pei Chun Public School which is currently ranked 19 in Singapore to play a pivotal role in shifting parent’s decision to purchase a unit in The Orie. 

There are other primary schools like Nan Chiau Primary School, Rosyth primary and Catholic High primary that possess a stronger parent attraction effect compared to Pei Chun. 

Primary schools within 1km

• CHIJ Primary (Toa Payoh) – ranked 45 in SG 
• First Toa Payoh Primary School
• Pei Chun Public School – ranked 19 in SG 
• Keng Cheng Primary School

Primary schools within 1-2km

• Catholic High School
• Kuo Chuan Presbyterian Primary School
• St. Andrew Junior School
• St. Gabriel Primary School
• Marymount Convent School

Secondary schools nearby

• Raffles Girls’ Secondary School
• Raffles’ Institution
• Catholic High School
• St. Andrew Secondary School
• CHIJ (Toa Payoh)
• Beatty Secondary School

Plot Density for the Lorong 1 Toa Payoh Site

Plot density refers to the space between blocks within a development and the common space being allocated between facilities. An overly dense project gives it a claustrophobic feel, while a well spaced out project is appealing to future buyers.

As new launches are sold via site plans, buyers are not able to fully appreciate the density of the project. In actual fact, plot density plays a significant role in appealing to resale buyers when they view the actual development. 

Mega developments like Jade Scape, Parc Esta are good examples of how a well spaced out project built on a large land plot is well received amongst resale buyers. 

Referencing the table below, The Orie has similar plot density with the Gem Residences. To get an actual feel of how this can potentially feel like. It helps to pay Gem Residences a physical visit. 

Plot Density Comparison

Development	Plot Ratio	Site Area (sqm) / Land Size	No of Units	Site Area / Unit
The Orie	4.2	15,743	777	20
Gem Residences	3.5	12,154	578	21
Jadescape	2.8	37,990	1,204	32
Parc Esta	2.8	34,998	1,399	25

Developer Track Record – The Orie vs Gem Residences

A quality has a role to play in influencing the layout of units with the development, the layout of facilities, the quality of the build and finishing within the units. 

Given that Gem Residences is the closest competitor to The Orie when it comes to resale buyer consideration. It helps to compare the track record of developers constructing both developments. 

Referencing the tables below and at the risk of making a sweeping statement. The Orie features a much more reputable team of developers with an established track record. 

The Orie Developer Track Record

Developer name	Conquas Band	Track Record
CDL	1	Commonwealth Tower, Whistler Grand, SengKang Grand Residences
Frasers Property Limited	1	Seaside Residences, North Park Residences, Watertown
Sekisui House Ltd	2	Seaside Residences, Watertown

Gem Residences

Developer name	Conquas Band	Track Record
Gamuda Land	1	Ola
Evia Real Estate	1	Ola, Lakelife
Maxdin Pte Ltd	2	NA

We are Decoupling Expertise

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We are a team of specialist realtors that specialises in helping our readers research, shortlist and purchase investment properties. 

We believe in delivering informational value upfront without obligations through practical, detailed and data backed long form articles.

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Key Strength and Investment Opportunity to consider

At a high level, there are 3 factors that form the investment case for The Orie. 

1. Scarcity of private condo in Toa payoh
2. Position as the newest condo development in Toa Payoh
3. Capturing demand from million dollars HDB exits in Toa Payoh

#1 – Scarcity of private condo in Toa payoh

Toa payoh is a prime RCR district, it is situated 1 MRT stop away from Novena.

In the eyes of homeowners, it is equally valued, if not deemed to be more centralised than mature and desirable housing districts like Bishan and Clementi.

Toa Payoh housing built up is unique in the sense that there are currently only 4 private condo developments available for home buyers.

Tracking the profitability of these 4 condo developments will give us a sense of buyer demand for private properties in Toa Payoh.

Average Profitability of Condos in Toa Payoh

Project Name	Average Profit	Average Holding Duration (year)	No of Transaction
GEM RESIDENCES	241,442	6	155
TREVISTA	587,542	10	101
TRELLIS TOWERS	384,795	11	215
OLEANDER TOWERS	419,889	14	53
Fringe of Toa Payoh, closer to Balestier
THE ARTE	461,895	5	219
SKY@ELEVEN	840,198	4	290

In the latter section, we will dive deeper into examining the supply dynamics of condos in Toa Payoh.

For now, know that demand is healthy and supply of private property is scarce. The Orie is well positioned to address the gap in demand and supply shortage.

#2 – Position as the youngest new launch development in Toa Payoh

Side note, the common challenges or consideration when investing into a OCR new launch like Norwood Grand, is the presence of equally new ECs, private condos and resale ECs serving as competition.

In the case of mature, city fringe district like Toa Payoh, Bishan, the supply dynamics differ significantly.

There is a shortage of new condo developments and the existing inventory of private property tends to be older and possess a risk of lease decay. In the case of freehold properties, It tends to have a less appealing facade with dated layout.

Project Name	Tenure	Completion	No of units
The Orie	99 yrs	2029	777
GEM RESIDENCES	99 yrs FROM 2015	2019	578
TREVISTA	99 yrs FROM 2008	2011	590
TRELLIS TOWERS	Freehold	2000	384
OLEANDER TOWERS	99 yrs FROM 1995	1998	318
THE ARTE	Freehold	2010	336
SKY@ELEVEN	Freehold	2010	273

Referencing the table above, The Orie’s closest competition is Gem Residences.

Gem Residences lease starts in 2015 and assuming The Orie tops in 2028, Gem Residences will become a 13 years old development.

One key thing to note about condo developments from the older vintages like Trellis Tower, Oleander Towers, The Arte and Sky@Eleven is that they tend to have larger floor area with less efficient layout. This often results in higher overall purchase quantum, despite lower per square foot prices.

We will further explore this point in the section where we conduct purchase quantum comparison amongst these developments.

#3 – Tap on Toa Payoh’s HDB upgrader purchasing power

Another unique fact about Toa Payoh. Due to its centralised location, it is a district that features the most million dollars HDB exits in Singapore.

Based on research, Toa Payoh HDB resale transactions form an average of 10% to 13% of overall Singapore million HDB exits.

Price of Toa Payoh 5 Room HDB Flat vs HDB in Central Region

Reference the table below for a glimpse of recent transaction value of Toa Payoh HDB flats.

The Orie is well positioned to capture the demand of HDB upgraders that have exited their million dollar HDB flats.

Toa Payoh Crest HDB resale transactions

Date	Block	Unit	Price	Price (psf)
	130B	Floor 19-21	S$1.101 M	S$1,099.0
07/2023	131A	Floor 40-42	S$1.1 M	S$1,098.0
02/2024	130B	Floor 25-27	S$1.088 M	S$1,086.0
02/2023	131A	Floor 28-30	S$1.05 M	S$1,048.0
09/2023	131A	Floor 25-27	S$1.035 M	S$1,033.0
09/2023	130B	Floor 13-15	S$1.03 M	S$1,028.0
07/2023	130B	Floor 13-15	S$1.03 M	S$1,028.97
01/2024	130B	Floor 25-27	S$1.025 M	S$1,023.0
06/2023	130B	Floor 31-33	S$1.02 M	S$1,018.0
12/2022	131A	Floor 31-33	S$1.018 M	S$1,016.0
12/2022	131B	Floor 37-39	S$1.012 M	S$1,010.99
09/2022	131B	Floor 37-39	S$1.01 M	S$1,009.09
06/2023	131B	Floor 25-27	S$1.009 M	S$1,007.0
04/2023	130B	Floor 16-18	S$1 M	S$999.0
06/2023	131B	Floor 34-36	S$1 M	S$999.0
11/2023	131B	Floor 10-12	S$1 M	S$999.0

Key risk to consider when investing in The Orie

#1 – Competition with Gem Residences

Gem Residences, even though it is older than The Orie, is still deemed a relatively new development. From a psf and purchase quantum perspective it serves as a more affordable option than The Orie.  

To ensure that future resale buyers place The Orie as priority choice, The Orie must outperform Gem Residences. 

	PSF pricing	Purchase Quantum for 3 Bedroom Unit	Age	Plot Density	Proximity to MRT	Proximity to School	Unit Layout	Unit Finishing	Facade of Development
The Orie	2,651	2,481,336	Win – 5 years at 2028	Parity	Win	Parity	To be determined	To be determined	To be determined
Gem Residences	1,935	2,000,000	Lose – 13 years at 2028	Parity	Lose	Parity	NA	NA	NA

#2 – Holding duration Risk

At current state, there are no immediate GLS land sales or neighbouring new launches serving as immediate price catalyst. 

Hence it is important to consider a longer 5 to 7 years holding duration to allow the new batch of new launches to build new benchmark prices for The Orie.

Estimated Launch Price

In this section, we will project the estimated launch price based on the developer’s land bid breakeven price and also referencing Chuan Park New launch as a proxy.

Breakeven Price

The Orie Land Breakeven Price Psf	2,305
Add: 5% Premium for Post GFA harmonisation effect	2,420
Margin – 10%	2,662
Margin – 15%	2,783
Margin – 20%	2,904

Referencing the developer’s land breakeven price of $2,304 psf, factoring in a 5% additional cost consideration due to GFA harmonisation and further marking it up with a 15% profit margin.

We will be looking at an estimated launch price of $2600 psf to $2700 psf for The Orie.

Chuan Park Residences – Launch price as reference

Note Chuan Park Residences developer submitted its development plan before the officialisation of GFA harmonisation. Hence, there isn’t a need to factor in a 5% premium to account for the increased cost to be incurred by developer post GFA harmonisation. 

Whereas The Orie is a post GFA harmonisation project, a 5% markup is factor into its breakeven price before marking up for profit to account for additional cost incurred by developer. 

Chuan Park Land Breakeven Price Psf	2,229
Not affected by GFA harmonisation	2,229
Average launch price	2,585
Developer’s Profit Margin	16%
Normalising launch price for a apple to apple comparison with a GFA harmonisation project
Adding a 5% to Chuan Park Average Launch Price	2,714

Latest Developer Estimated Price Matrix

Latest Official Guide Prices – release by developer on 2 Jan 2025

• 1 Bedroom + Study – starting from $1.28 mil
• 2 Bedroom – starting from $1.48 mil
• 3 Bedroom – starting from $2.09 mil
• 4 Bedroom – starting from $2.92 mil
• 5 Bedroom – starting from $3.48 mil

Take this guide prices with a pinch of salt, these prices are often prices of limited units located at the lowest floor of the least ideal stack. They are intentionally priced lower to create perceived price attractiveness.

Price Comparison – The Orie vs Comparable Private Condo in Toa Payoh

With The Orie’s launch price established, let’s compare it against comparable private condos in Toa Payoh. The common issue with conducting price comparison in an area saturated with older developments is that there often a lack of bench mark for apple to apple comparison. 

From a psf pricing perspective, The Orie will be significantly higher than its comparable development that is significantly older. 

Project Name	Tenure	Completion	No of units	Avg Price (S$ psf)
The Orie	99 yrs	2029	777	2,783
GEM RESIDENCES	99 yrs FROM 2015	2019	578	1,935
TREVISTA	99 yrs FROM 2008	2011	590	1,854
THE ARTE	Freehold	2010	336	1,815
SKY@ELEVEN	Freehold	2010	273	2,138
TRELLIS TOWERS	Freehold	2000	384	1,864
OLEANDER TOWERS	99 yrs FROM 1995	1998	318	1,418

There are generally 2 ways you can rationalise this or develop an appropriate benchmark for comparison. 

1. Referencing other equally young new launch for reference
2. Using overall purchase quantum as a benchmark for comparison instead of PSF

We will cover both in the section that follows. 

Price Comparison – The Orie vs other 2024 new launches

Comparing The Orie psf pricing with other comparable 2024 vintage new launches. The Orie will potentially set the record benchmark prices for RCR new launches. 

Project Name	Location	Launched	No of units	Avg Price (S$ psf)	GFA Harmonisation Effect	Normalised Pre GFA harmonisation Project for apple to apple comparison
The Orie	Toa Payoh	2025	777	2,783	Post GFA	2,783
Chuan Park Residences	Lorong Chuan	2024	916	2,585	Pre GFA	2,714
Emerald of Katong	Katong	2024	847	2,637	Post GFA	2,637
Nava Grove	Bukit Timah / Dover	2024	552	2,445	Post GFA	2,445

Entry Price Band

Referencing the launch prices of comparable 2024 new launches, we established the following entry price band for reference. In general, if The Orie were to launch close to the 26XX psf range with launch price below Chuan Park Residences, this will potentially be a under value buy. But it is highly unlikely that The Orie’s developer will be launch at this price.

Any price between 27xx to 28xx psf would mark a fair value buy in our opinion. Entering at this price will place you at the intersection between Chuan Park Residences’ Launch price and the launch prices of upcoming 2025 RCR new launches to be launched in the later park of the year.

• Undervalue buy – anything below $2600 psf
• Fair value buy – between $2700 to $28XX psf 
• Overvalue buy – anything above $2800 psf 

Quantum Comparison – The Orie vs Comparable Private Condo in Toa Payoh

A pure psf price comparison will often work against the favour of new launches. On the other hand, due to greater efficiency in layout design, a new launch will often retain its competitiveness as buyers are paying for efficient usable space versus paying for air con ledges, oversized balconies and planter boxes. 

All of these features that are not optimised towards efficiency are prevalent amongst all the older developments in Toa Payoh. 

For example, the 3 to 4 bedroom layout in Trevista features significant space being allocated to a large oversized balcony, while all 2, 3 and 4 bedroom unit layouts in Oleander Towers feature odd shaped layout. Similarly for The Arte and Sky@Eleven, significant space have been allocated to Planter boxes and private lifts. 

Quantum aside, layout efficiency is potentially another strength that The Orie can capitalise on.

2 Bedroom 2 Bath Unit – Purchase Quantum Comparison

Project Name	Avg Price (S$ psf)	Smallest 2 Bedroom Unit Size	Purchase Quantum ($)
The Orie	2,783	646	1,798,004
GEM RESIDENCES	1,935	775	1,499,625
TREVISTA	1,854	861	1,596,294
THE ARTE	1,815	1,055	1,914,825
SKY@ELEVEN	2,138	NA	NA
TRELLIS TOWERS	1,864	710	1,323,440
OLEANDER TOWERS	1,418	861	1,220,898

3 Bedroom Unit – Purchase Quantum Comparison

Starting from the larger 3 bedroom to 4 bedroom unit type onwards, you can really see the layout efficiency of a new launch coming into play. 

Most of the older developments will feature larger sized 3 bedroom units starting from 1000 sqft onwards, while a new launch can potentially squeeze most of the usable space into a 900 plus sqft layout. 

This results in a narrowing of the gap in terms of purchase quantum for the bigger unit types like 3, 4 and 5 bedroom units. 

Hence, do take note of this and prioritise the selection of larger unit types if your budget permits. 

Project Name	Avg Price (S$ psf)	Smallest 3 Bedroom Unit Size	Purchase Quantum ($)
The Orie	2,783	850	2,365,794
GEM RESIDENCES	1,935	936	1,811,160
TREVISTA	1,854	1,098	2,035,692
THE ARTE	1,815	1,399	2,539,185
SKY@ELEVEN	2,138	1,851	3,957,438
TRELLIS TOWERS	1,864	1,141	2,126,824
OLEANDER TOWERS	1,418	1,141	1,617,938

4 Bedroom Unit – Purchase Quantum Comparison

Project Name	Avg Price (S$ psf)	Smallest 4 Bedroom Unit Size	Purchase Quantum ($)
The Orie	2,783	1,216	3,384,478
GEM RESIDENCES	1,935	1,249	2,416,815
TREVISTA	1,854	1,561	2,894,094
THE ARTE	1,815	1,873	3,399,495
SKY@ELEVEN	2,138	2,271	4,855,398
TRELLIS TOWERS	1,864	1,647	3,070,008
OLEANDER TOWERS	1,418	1,453	2,060,354

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 comparison of the best new launch opportunities available at the moment. 

Supply and Competition for Condos in Toa Payoh

Aside from assessing potential demand, it is important to assess the supply and competition in an area. In short, The Orie being located in Toa Payoh is well positioned from a supply perspective. 

There is a shortage of 3, 4 and 5 bedroom units from an available inventory stand point and also lack of available listings on property portal marketing larger units. 

Supply, Competition by Bedroom Type in Toa Payoh

Primer on how the analysis was conducted. We track the available inventory for different bedroom types for condos in Toa Payoh and also track its respective count of listings on major property portals. 

Weighing the number of listings against the available inventory, gives us an idea of intensity of competition. Generally the lesser number of listings on property the better, as it’s meant that most owners are holding on to their property for homestay and the unit type is scarce in the area. 

1 Bedroom Unit

Project Name	Tenure	Completion	No of units	No of Listing on Property Guru	Listing to Supply Ratio
GEM RESIDENCES	99 yrs FROM 2015	2019	109	10	9.2%
TREVISTA	99 yrs FROM 2008	2011	27	0	0.0%
THE ARTE	Freehold	2010	0	0	0.0%
SKY@ELEVEN	Freehold	2010	0	0	0.0%
TRELLIS TOWERS	Freehold	2000	76	2	2.6%
OLEANDER TOWERS	99 yrs FROM 1995	1998	0	0	0.0%
Overall			212	12	5.7%

2 Bedroom Unit

Project Name	Tenure	Completion	No of units	No of Listing on Property Guru	Listing to Supply Ratio
GEM RESIDENCES	99 yrs FROM 2015	2019	221	32	14.5%
TREVISTA	99 yrs FROM 2008	2011	155	2	1.3%
THE ARTE	Freehold	2010	54	1	1.9%
SKY@ELEVEN	Freehold	2010	0	0	0.0%
TRELLIS TOWERS	Freehold	2000	96	1	1.0%
OLEANDER TOWERS	99 yrs FROM 1995	1998	88	0	0.0%
Overall			614	36	5.9%

3 Bedroom Unit

Project Name	Tenure	Completion	No of units	No of Listing on Property Guru	Listing to Supply Ratio
GEM RESIDENCES	99 yrs FROM 2015	2019	172	8	4.7%
TREVISTA	99 yrs FROM 2008	2011	299	4	1.3%
THE ARTE	Freehold	2010	166	1	1.9%
SKY@ELEVEN	Freehold	2010	131	0	0.0%
TRELLIS TOWERS	Freehold	2000	393	0	0.0%
OLEANDER TOWERS	99 yrs FROM 1995	1998	169	2	1.2%
Overall			1330	15	1.1%

4 Bedroom Unit

Project Name	Tenure	Completion	No of units	No of Listing on Property Guru	Listing to Supply Ratio
GEM RESIDENCES	99 yrs FROM 2015	2019	38	0	0.0%
TREVISTA	99 yrs FROM 2008	2011	112	6	5.4%
THE ARTE	Freehold	2010	116	5	4.3%
SKY@ELEVEN	Freehold	2010	136	3	2.2%
TRELLIS TOWERS	Freehold	2000	194	0	0.0%
OLEANDER TOWERS	99 yrs FROM 1995	1998	61	1	1.6%
Overall			657	15	2.3%

5 Bedroom Unit

Project Name	Tenure	Completion	No of units	No of Listing on Property Guru	Listing to Supply Ratio
GEM RESIDENCES	99 yrs FROM 2015	2019	37	1	2.7%
TREVISTA	99 yrs FROM 2008	2011	0	0	0.0%
THE ARTE	Freehold	2010	0	0	0.0%
SKY@ELEVEN	Freehold	2010	4	3	75.0%
TRELLIS TOWERS	Freehold	2000	2	0	0.0%
OLEANDER TOWERS	99 yrs FROM 1995	1998	0	0	0.0%
Overall			43	4	9.3%

Best Unit type to consider

Referencing the summary tables below, using 1) Summary of Supply vs Listing Comparison as an indication for health of supply and 2) Profitability of Gem Residences Profit by Bedroom type as a rough indication for demand. 

The 3 and 4 bedroom units see the healthiest balance in terms of demand / profitability and scarcity of supply. 

Summary Supply vs Listing Comparison

Unit Type	Total No of Unit	Total No of Listing	Overall Listing to Supply Ratio
1 Bedroom	212	12	5.7%
2 Bedroom	614	36	5.9%
3 Bedroom	1330	15	1.1%
4 Bedroom	657	15	2.3%
5 Bedroom	43	4	9.3%

Gem Residences Average Profit by Unit Type

Bedrooms	Average Profit	Average Holding Duration (year)	No of Transaction
1	139,930	6	24
2	206,114	6	60
3	265,476	5	46
4	327,119	5	16
5	501,390	5	8

Unit Mix 

The Orie’s developer seems to be placing some emphasis on marketing the development to investors and small families. Over 50% of the units fall within the 1 to 2 bedroom unit type, followed by 20% being allocated to 3 bedroom units and another 15% being allocated to 4 bedroom units. 

From a supply perspective, larger units such as 2 bedrooms + Study, 3 bedroom and 4 bedroom units that could potentially cater for small families and HDB upgraders would be worth a further review. 

Unit Type	Size (sqft)	Number of Units	Percentage
1-bedroom + Study	512 sqft	78	10%
2-bedroom, 1 bath	590 sqft	78	10%
2-bedroom	647 sqft	77	10%
2-bedroom Premium	675 sqft	77	10%
2-bedroom + Study	699 sqft	78	10%
3-bedroom	845 sqft	78	10%
3-bedroom Premium	1,025/1,040 sqft	78	10%
3-bedroom Dual Key	1,128 sqft	39	5%
4-bedroom	1,220 sqft	78	10%
4-bedroom + Study	1,359 sqft	39	5%
5-bedroom with private lift	1,455 sqft	77	10%

Should you consider buying a Dual Key Unit in The Orie ?

For readers interested in a 3 bedroom dual key unit in The Orie, reference below for the profitability of neighbouring development’s dual key unit profitability.

You would notice both the 2 bedroom and 3 bedroom dual key unit performed poorer than the conventional, standard 2 bedroom and 3 bedroom unit types.

Amongst the 2 bedders, the 2 bedroom dual key generated the least profit. Similiarly, 3 bedroom triple key was not well received and generated only 210k, even lower profit than a 2 bed 2 bath unit.

This is representative of the resale market sentiment towards dual key layout. Resale buyers are less keen on dual key layout as most of them are purchasing purely for home stay and would want to maximise floor plan efficiency, instead of having it being allocated to common corridors and additional pantry in the case of a dual key unit.

For more read on dual key units, check out the following article ” Dual Key Condo – Is it really a good investment ? “

Gem Residences’ Dual Key Unit Profitability

Area (sqft)	Average Profit	Dual Key
452	137,575	1 Bedroom
484	141,923	1 Bedroom
775	166,745	2 Bedroom Dual key
570	179,718	2 Bed 1 Bath
980	210,923	3 Bedroom, Triple Key
678	225,620	2 Bed 2 Bath
592	228,542	2 Bed 1 Bath
936	231,685	3 Bedroom Compact
1,012	238,719	3 Bedroom Premium
947	272,881	3 Bedroom Compact
1,249	301,694	4 Bedroom
1,055	352,480	3 Bedroom Premium
1,313	501,390	4 Bedroom
1,636	708,488	4 Bedroom

Floor Plan Analysis

Given future resale buyers will be considering Gem Residences as a closest alternative to The Orie. We will be making comparison for floorplans of unit types that are most frequently considered by investors.

Floor Plan Comparison – The Orie vs Gem Residences

Floorplan Comparison – 2 Bed 2 Bath – 646 sqft

• The Orie 2 Bed 2 Bath unit have got a enclosed kitchen while Gem Residence 2 Bed 2 Bath do not
• The Orie 2B2B unit have got a more regular shaped balcony then Gem Residences

Floorplan Comparison – 3 Bed Premium

• The Orie have got larger bedroom size for each of the 3 bedroom as compared to Gem Residences
• Gem Residences layout is less efficient as significant space is being allocated to aircon ledge
• The Orie feature a yard for laundry but the Gem Residences do not

Floorplan comparison – 4 Bedroom

• Gem Residences features 2 balcony, with one balcony being smaller which can be deem as inefficient use of space
• The Orie feature a much larger living room space than Gem Residences
• All 3 bedroom are facing the same facing, which could be unblocked view, depending on the level that you select

Complete List Most Updated Floorplan for The Orie

Floorplan – 1 Bedroom plus Study – 517 sqft

Note there are only 1 Bedroom plus study units in The Orie, there are no compact 1 bedroom units in within its unit mix.

Take heed, when you are considering a 1 Bedroom unit in The Orie. Be prepared to rent out the unit and expect a longer holding duration before realising a sizeable profits.

This is due to the fact that, 1 bedroom units generally appeal to a smaller segment of resale buyers who are singles and affordability tend to be a main prority for this segment of buyers.

Floorplan – 2 Bedroom 1 Bath – 592 sqft

It is interesting to note that all the 2 bedroom units in the Orie have got a pretty efficient layout, and this includes 2 bed 1 bath unit. Normally, 2 bedroom units feature a open concept kitchen, but in Orie, even the 2 bed 1 bath units omes with an enclosed kitchen.

This makes it potentially viable and appealing for resale buyers that comprise of small family with 1 child looking to stretch their budget and purchase a unit in city fringe location like Toa Payoh.

Specific to the 2 bed 1 bath units in The Orie, we have seen precedence of 2 Bed 1 Bath units in other developments like Parc Esta performed very well due to the fact that it has a enclosed kitchen within its 2 Bed 1 bath layout.

For more consideration between 2 bed 1 bath vs 2 bed 2 bath, refer to this research article linked inline

Floorplan – 2 Bedroom 2 Bath – 646 sqft

Comparing the 646 sqft 2 bed 2 bath layout to the 678 sqft 2 bed 2 bath unit layout listed below.

The 646 sqft unit type features great layout efficiency as both bathrooms are located in a dumbell layout on each side of the unit. This omits the need for a common walkway.

For the 678 sqft layout, both bedrooms are located on one side of the unit and some space is being utilised as a common walkway.

Assuming the same psf pricing, the smaller 646 sqft may have a lower overall purchase quantum and presents itself as a more affordable option to you as the first owner and eventually pass this affordability advantage down to your future resale buyer.

Floorplan – 2 Bedroom 2 Bath Premium – 678 sqft

Floorplan – 2 Bedroom 2 Bath Premium Plus Study – 700 sqft

When considering the larger 2 bedroom unit types, it will be important to validate price gaps between the smallest 3 bedroom compact units. If price increment is minimal between a larger 2 bedroom unit vs a compact 3 bedroom unit, it may be better to opt for the 3 bedroom compact unit.

Floorplan – 3 Bedroom Compact – 850 sqft

Note one potential downside for Orie’s 3 bedroom unit layout is the lack of a window in the kitchen and bathroom.

When compared to a 3 bedroom compact unit in the Gem Residences and recently launched Chuan Park Residences. Both development have got a more efficient 3 bedroom compact layout.

Floorplan – 3 Bedroom Premium – 1023 sqft

The 3 bedroom premium unit in The Orie have got a very strong layout.

It features a sizeable kitchen that would very appealing for family looking to cook and its living room is very spacious setting it apart from the usual narrow width of a 3 bedroom unit in a new launch development.

And note the 1000 plus sqft layouts are generally very scarce in supply within the Toa Payoh area, In terms of unit distribution both Orie and Gem Residences have got limited supply of 1000 plus sqft 3 bedroom units within its unit mix.

Floorplan – 3 Bedroom Premium – 1044 sqft

Floorplan – 3 Bedroom Premium Dual Key – 1130 sqft

Floorplan – 4 Bedroom – 1216 sqft

The strength of Orie’s 4 bedroom unit revolves around the fact that its bedroom are all facing the same direction, potentially towards a unblocked view, depending on the level of your unit. Where else in the Gem Residences’ 4 bedroom units, not all rooms faces the same direction, 1 bedroom is located on the other end of the unit with a blocked view.

Floorplan – 4 Bedroom Premium Plus Study – 1367 sqft

Floorplan – 5 Bedroom with Private Lift – 1453 sqft

The 5 bedroom unit comprise of a private lift. Personally, I would avoid units with private if the purchase was solely for investment. Generally private lift and its foyer takes up additional space and may not resonate strongly with resale buyer when they are viewing the unit physically.

This issue with private lifts and its market uptake was brought in one of our client research for Thomson Grand, which also features private lifts within its layout.

Site Plan Analysis

Laying out the general objective for site plan analysis, we will be reviewing the site plan to identify

1. Stacks or levels within stacks to avoid, due to block view or negative disamenities like being located next to bin center to carparks
2. Stacks with premium views, to consider if pricing is reasonable and price gap between non premium unit is reasonable

It is important to note that The Orie comprises of 2 blocks of 40 storey high buildings, hence selecting the unit type and floor level priced with the most value will play a important role for investors.

For more insights on unit selection strategy for new launch, refer to article link inline.

Unit Type and Site Location

Premium Inner facing unit type facing pool comprises of

• B2 – 2 Bedroom 2 Bath
• B3 – 2 Bedroom Premium Unit
• B4S – 2 Bedroom Premium + Study
• D1 – 4 Bedroom Unit
• E1 – 5 Bedroom unit with private lift

For these unit types that are facing the pool, it would be important to check the price gaps between the launch price of these premium facing units against units that are facing outwards. If price gap is narrow between these premium units and outwards facing units. It could be a viable investment.

Specifically look out for price gap between

• B1 – 2 Bed 1 Bath (Block 10 and 12) vs B2 – 2 Bed 2 Bath (Block 12)

Unit types that are north facing, facing the 12 storey high HDBs and the 19 storey high HDB to the south are the following

• C3DK – 3 Bedroom Dual Key Unit
• A1S – 1 Bedroom plus Study
• B1 – 2 Bed 1 Bath
• C1 – 3 Bedroom
• C2 / C2A – 3 Bedroom Premium

For this unit types it helpful if you can secure units that can clear these HDB flats by selecting units above 12 and 19 storey if possible. This is provided price gap between lower levels and levels that have unblocked view is not priced at a significant premium.

Site Facing and Surrounding

Site’s human and vehicular traffic flow

Looking to purchase a unit in the new launch as a second property ?

Check out the following article for more insights on how to avoid ABSD

• Decoupling Property Singapore – The Complete Guide 
• How to buy a second property in Singapore without ABSD ? 

Showroom Preview

4 Bedroom – Living Room

Showroom – Wet Kitchen

Showroom – Master Bedroom

Showroom – Toilet

Next Steps – Groundwork

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.