Some integrated developments have lifestyle features. Watertown jointly developed by Frasers Centrepoint, Far East Organisation and Sekisui House is one such project. The 992-unit condominium is above Waterway Point Mall connected to Punggol LRT and MRT stations, a bus interchange as well as on the Punggol Waterway, which has recreational, and entertainment facilities.
The development launched in January 2012 fetched $1200 psf average price, which was 22% higher than A Treasure Trove’s sub-sale price of $940 psf. Sim Lian’s A Treasure Trove across Watertown had its launch in September 2011 at $870 average price and was completed in 2015.
Also across Watertown is Parc Centros by Wee Hur Holdings, a private condo with 618 units whose launch was in August 2012 at $970 psf and was completed in 2016. The price was 23% lower than the initial price of Watertown.
The Watertown comes after Compass Heights in the Northeast MRT while The Poiz Residences is the third integrated development 7 MRTs away.
The Poiz Residences has 731 units in 6 blocks with 18-storeys each. The project is in The Poiz Centre atop a retail/lifestyle complex of 50,000 sqft. It is linked to Potong Pasir MRT. Since November 2015 when it was launched, approximately 90% of its units have been sold. According to the lodged caveats, units sold in April fetched $1,510 average price.
Across The Poiz Centre is The Venue Residences, and the Sennett Residence that was completed in 2016. In November a unit fetched $1,301 psf and the average price so far is $1,419. Next is Sant Ritz whose completion was in 2016 and average price of $1,369 psf.
“Poiz Residences commands a price premium since it is the only development that is integrated in the vicinity,” said Tan.
The Northern region has 2 integrated projects names Hillion Residences and The Tennery.
Hillion Residences by Sim Lian Group is a 546-unit on leasehold of 99 years with a direct link to Bukit Panjang MRT and bus interchange. Based on caveats, above 420 units have fetched $1,362 psf average price.
The Tennery by Far East Organization is a 338-unit integrated project completed in 2013. It sold 80% of the units in a month following its December 2010 preview at $1200 psf. A transaction in February fetched $1,139 psf. The development sits atop Junction 10 mall and has a direct link to Ten Mile Junction LRT and Bukit Panjang MRT.
North Park Residences is an integrated development in Yishun. The private condo has 920 units in 12 blocks on top of Northpoint City. Its launch was in April 2015 with 313 of its 400 units being taken up in the first sales weekend at $1,300 average price. So far, the project is 83% sold.
(Artist's Impression of North Park Residences)
Northpoint City is part of Northpoint Shopping Centre consisting of 500 shops and integrated with Yishun public library, Yishun bus interchange as well as linked to Yishun MRT.
The goal of the government is to have 80% of families to live within a walk of 10 minutes from an MRT by 2030.
“Possibly the integrated development’s premium over other private condos nearby will be dependent on the closeness of the other condos to the MRT and amenities of the mixed-use development,” said Cheong of Savills.