7 3-Bedroom Penthouses in District 14 & 15 under $1,700 PSF (as of 8 Nov 2021)

“The homeowner who finds solace in the view of the city’s skyline will not be wowed in the same way as a beautifully manicured garden on the ground.”

As we often hear, the sky’s the limit. Without doubt, in the real estate sense, living (and feeling) at the top of the world with unblocked views can be very alluring. Today we are zooming into District 14 & 15, primarily looking at several 3-bedders penthouses with a PSF of less than $1,700. Statistics tell us that a large percentage of the housing units here are private developments, with a good chunk of them being of apartment or condominium status.

If you haven’t seen our article on “Penthouses Explained”, you are welcomed to check it out over here: https://www.propertylimbrothers.com/insights-posts/penthouses-explained.

Many attractive factors form the core of the ‘pull’ factors towards penthouses in Singapore. From high loft ceilings, unblocked views, the ‘highest’ status and a symbol of affluence, to having the outdoor spaces for activities, privileges such as private lift and not having a neighbour’s heavy foot stomping down on your ceiling every other day, these are reasons why penthouses remain such popular properties over the years.

In District 15 particularly, which historically was filled up primarily with freehold private landed housing, developers saw the potential of the landscape in this area, especially with the much-coveted sea-view and the rich heritage and culture that the district has. Hence over the past 2 to 3 decades, what has been happening (and is still on-going) was that developers bought over these landed houses and converted them into high rise private residential developments.

Perhaps one can debate that the living space in a condominium is not as fantastic as that of a landed home, and the condominium unit often lacks the outdoor space required for your gardening or entertainment needs. Between living in a private condominium versus living in a landed home, some home-owners very much prefer to take a hands-off approach in the maintenance of the exterior of the property. Thus, the best of both worlds come in the form of the ‘landed-in-the-sky’ – Penthouses.

The appeal of the rare penthouses in condominiums is that, the managing agent contracted to manage the development will take care of the facade and facilities of the project, while the home owners still retain the space that they so desire on the small island of Singapore, on top of the many alluring reasons as mentioned earlier.

Moreover so in the current pandemic climate, where home-owners often crave for a larger space, or an outdoor space after being cooped up at home for long periods of time, we are seeing an increasing trend of demand for bigger homes and the inclusion of having usable outdoor space in the house.

Interested in buying a penthouse? We reviewed the market and found 7 3-Bedroom Penthouses in District 14 & 15 under $1,700 PSF. In this article, we provide a detailed look at projects, potential for capital appreciation and even analyse the layout configurations of these seven penthouses. Whether you are looking to buy a penthouse, or simply share our fascination for these houses in the clouds, this Insights article is sure to enrich. (Facts and information accurate as of time of writing)

 

7 3-Bedroom Penthouses in District 14 & 15 under $1,700 PSF

 

 

1. Palm Galleria

 

Project details

Palm Galleria is a small-sized development located along Lorong K Telok Kurau and is a highly popular choice for parents as it is located within 1km from Tao Nan School and CHIJ Katong Primary. This is perfect for people who do not enjoy living in large crowded projects and prefer the exclusivity. Due to its nature as a small development, we will see averagely 2-4 transactions per year, and often times with a lower volume in transactions, we do not see a higher rate of increase in its asking prices or psf in a short span of time.

Having said that, we have observed that the average PSF price point has risen from around $800 psf to its current $1,300 psf, which is a rather healthy growth over the years. Even though there is no recent penthouse transaction within the last 2 years for comparison, the unit that we are looking at has the lowest PSF in this list.

Location analysis

 

Tucked right in the centre of the Telok Kurau estate, and at first glance it may seem a little remote, but the residents at Palm Galleria enjoy plenty of serenity in this neighbourhood. It is also located within walking distance to the bus stops along Telok Kurau road where buses will quickly bring you to the Eunos or Kembangan MRT.

The main draw will be the fact that this development is located within 1km of Tao Nan School, which means that there will always be a constant demand for this property from parents eager to earn their child a spot in this highly coveted school. Just a short drive down, East Coast road is littered with plenty of famous F&B options to satiate your tastebuds. Parkway Parade is just a 5 minutes drive away and that is where you will be able to get all your shopping, amenities and daily needs.

3 bedder penthouse details + floor plan

 

As with most penthouses, this layout is suitable for many buyers looking for plenty of space to engage in their outdoor activities such as gardening, or creating their own fish/pond structure on the roof terrace. The balcony spaces are spacious and allow you to creatively make use of them. The current setup of this penthouse unit is that the balcony space adjacent to the living area has been converted as part of the internal liveable space.

Some residents have enclosed their balconies and installed some decking to achieve more liveable space. Buyers can creatively convert (with MCST approval) the balcony spaces next to the bedrooms into a study or work area easily by enclosing them up with Ziptrak. The upper level also comes equipped with the Master Bedroom for extra privacy, which means that the allocation of space is better optimized. In addition, the unit comes with a private pool for you and your family to enjoy over a meal of barbeque while enjoying the sunset in the far horizon.

Last transactions

 

 

3 bedroom (2008) – $1.15m ($611 psf)

3 bedroom (2021) – $1.6m ($849 psf)

3 bedroom PH (2008) – $1.31m ($519 psf)

3 bedroom PH (2021) – Asking $2.58m ($1,020 psf)

Based on the 3 bedrooms and 3-bedder penthouse new launch (2008) transaction versus 2021 asking and transacted prices, we do see a good average capital appreciation of $300 psf – $400 psf. Hence even though it is a small development, there has been positive price movement over the past decade.

Conclude

For a freehold unit that is selling at close to $1,000 psf, we believe that this is a rare penthouse gem to find in District 15. Because it is still competitively priced against the broader market, interested parties could enter at a reasonable quantum and not compromise on the property’s potential for resale opportunities.

 

2. The Espira

 

Project details

The Espira is a freehold property, TOP-ed in 2009 and has 40 units in total. This was developed by World Class Land Pte Ltd. This may come across as a surprise inclusion into this list, but one will understand when they look at the historical transaction prices chart for this development. We will cover more on that later.

Location analysis

 

The Espira is located in the same area as Palm Galleria, with the nearest MRT being Kembangan MRT which is a 15 mins walk along the Siglap Park Connector. The upcoming Marine Terrace MRT is also within 15 minutes walk, providing you with another option. Once again, this is within 1km from Tao Nan School and is perfect for small families who are looking to gain the geographical advantage of the renowned school. East Coast Park is just a short distance away for your recreational needs. Siglap and Katong will offer your tastebuds a variety of delicacies with its multi-cultural offerings of F&B options.

3 bedder penthouse details + floor plan

 

This 3 bedder penthouse is sized at 2,217 sq ft, pretty large in today’s context. The kitchen is enclosed, hence offering you heavy cooking options. This also provides you with proper segregation of the spaces. There is also a sizeable yard and bomb shelter at the back, hence ensuring you have enough space for your laundry and storage needs. 2 of the common bedrooms are located on the lower deck, while the master bedroom is located on the upper deck.

The open roof terrace is very large and we feel that it will require a certain type of lifestyle and needs to fully utilise this abundance of outdoor space. What is also probably less than ideal is that in that era, developers favour the inclusion of bay windows and we do see quite a fair bit of that in this unit. Some clever ID and design would allow the homeowner to effectively utilise these bay window areas.

Last transacted charts

 

 

As mentioned earlier, The Espira had seen a steady capital appreciation over the past decade. For a small development like this, it is pretty remarkable, but it is also one of the signs of the strong growth in District 15. The Espira has steadily maintained a good growth and appreciation over these 13 years. In addition, it maintains a very healthy profitable-vs-unprofitable ratio in terms of transactions, with the last unprofitable transaction taking place in 2011. As an investment, The Espira also sees a healthy rental take-up rate and rental yield for the smaller type of units.

Conclude

The Espira still presents itself as a good entry point in terms of PSF for any buyer who wishes to own a penthouse unit in the Telok Kurau area. With its proximity to the Paya Lebar Hub, we think that this area is primed for growth even further once Paya Lebar Airbase shifts out in the future and a lot of infrastructural rejuvenation will take place in this district.

 

3. Sims Urban Oasis

 

Project details

Sims Urban Oasis is a large development with over 1000 units located in District 14 and is one of the rare few developments which are high rise, spanning across 18 – 19 storeys in totality. In this list, it is also one of the newest as it TOP-ed in 2017. On the downside, it is a 99-years leasehold project. If you are the type of homeowner who wishes to own a unit in a large development with high volume of transactions, then this is very ideal for you.

Location analysis

 

Sims Urban Oasis (SUO) is located just minutes walk away from Aljunied MRT Station and also a short drive to both PIE and KPE. In addition, it falls within 1km of the popular Kong Hwa School. As it is located in District 14, in terms of location, it will be slightly closer to the CBD/town region as compared to some of the other options in this list. However, one thing to note for Sims Urban Oasis is that some of the stacks face PIE directly, so the units there would inevitably be subjected to some traffic noise. You can click on: Sims Urban Oasis, 3 Bedrooms, 1,324 sq ft or Sims Urban Oasis 3 Bedrooms, 1,324 sq ft to find out more about 2 of the inward-facing penthouses available in Sims Urban Oasis.

3 bedder penthouse details + floor plan

 

The beauty of this top-floor penthouse unit is that it is of a single-plate nature, with no upper roof terrace deck. On the flip side, this is the smallest 3-bedder penthouse which we have in our list. This is so because 100% of the 1324 sq ft gets packed into this one entire floor with a huge chunk being usable and liveable space. Even the balcony has been enclosed with Zip-track so that area is technically a part of your living space as well. On paper, the unit’s floor plan looks odd-shaped, but when you step into the home, it is barely noticeable. We also like the fact that there is a high loft ceiling above the living space and balcony, making it feel superbly spacious. In addition, there is a built-in loft setup in the Master Bedroom, which is a rather clever use of the high ceiling space.

Last transacted charts

 

 

As Sims Urban Oasis TOP-ed only in 2017, there has not been any past transactions involving 3 bedder penthouse units except for the new sale info. Based on the latest October transactions for other unit types in this development, transacted PSFs are mostly in the $1,6xx range. One good indication and benchmark for pricing analysis in this area would be the new neighbouring project Penrose. This new development launched in the $1,6xx – $1,7xx PSF region, with slightly larger leftover 4 bedrooms at 1,389 sq ft going for $1,722 sq ft.

Conclude

To conclude, Sims Urban Oasis is a potentially good option if you are the type not inclined towards freehold property. District 14 is going to undergo massive redevelopment in the next decade, with the gradual phasing out of the red-light district in accordance to the change of zoning use initiated in URA’s masterplan, we are very excited and look forward to the uplifting of the real estate landscape for this entire area.

4. Parc Elegance

 

Project details

Parc Elegance is a Freehold development located off Changi Road beside Telok Kurau Road. It is nestled in the prime Telok Kurau enclave of District 15. Parc Elegance is developed by Fragrance Realty Pte Ltd and was completed in 2013 with 155 units spread across 3 blocks of 5 storeys each.

Bringing up the Street Directory map, you can see that Telok Kurau enclave is a rectangular piece of land, surrounded by Changi Road on the top, East Coast Road on the bottom, Still Road on the left and Siglap Canal on the right. If you are one who prefers a quiet neighbourhood with less traffic, the middle section of Telok Kurau enclave will appeal to you.

Parc Elegance is made up mainly of 1, 2 and 3 bedrooms units with 1 bedrooms being the most at 103 units, followed by 19 units of 2 bedrooms and 10 units of 3 bedrooms. There are a total of 23 penthouse units in Parc Elegance, with size ranging from 1 bedroom to 5 bedrooms. One fun fact about these penthouse units is that there is only 1 unit of 3 bedrooms penthouse in the entire Parc Elegance development.

The interesting thing about Telok Kurau developments is that you do not need to be on high floor to get a view of the Marina Bay Sands and Central Business District skyline because of the low-rise nature of the buildings here. From the penthouses, you can see the entire downtown skyline, and fireworks, from the comfort of your home.

Location analysis

 

One key unique selling point is its proximity to both Eunos and Kembangan MRT, as well as easy access to PIE and the Paya Lebar commercial hub. Parc Elegance, in our opinion belongs to a special group of condominiums in District 15 which is within walking distance to a MRT station. As a good bulk of D15 condominiums are located or tucked in one of the deeper ‘lorongs’, they often would require a bus ride first in order to get to the train station. If you are driving, it is just a short 3 minutes drive to PIE and 5 minutes to ECP. We also personally like this locale because as mentioned earlier, you have such a wide selection of food options from Joo Chiat, Siglap to East Coast and Changi Road.

3 bedder penthouse details + floor plan

 

This 3-bedroom unit is 1,442 sq ft in size and belongs to the duplex type of penthouse layout. There are different types of duplex penthouses. Most common one is the living, dining, kitchen and bedrooms on the lower level and the upper level is occupied entirely by an open roof terrace. This layout that we have has the living, dining, kitchen and 1 bedroom on the lower level, and 2 bedrooms on the upper level together with two open roof terraces.

From the floor plan there is an open kitchenette instead of an enclosed kitchen. This is one key difference about this unit as compared to the other 3-bedroom units. For those who love to cook, fret not, as it is still possible to convert this open kitchenette into an enclosed kitchen.

At the first open roof terrace, you will have an unblocked view of the Eastern part of Singapore. As our building height is slightly taller than our neighbour, when you stand at the roof terrace, your line of sight will clear the roofline of your neighbour block. This also ensures privacy for you.

Last transacted charts

 

This 3-bedroom penthouse is going for $1,745,000 in the resale market. In terms of per square foot pricing, it is going at $1,210. If we are to compare to TOP projects like The Lenox, Palm Oasis and Meta East, these projects are transacting at an average PSF of $1,100 to $1,300.

When we look at new (BUC) developments, such as Tedge, J@63 and Rymden 77 which are located within the Telok Kurau enclave with Tedge being the immediate neighbour to Parc Elegance. These projects average PSF will be between $1,500 to $1,700.

Hence from a financial perspective, this 3-bedroom penthouse unit at a PSF of $1,210 has a good entry price point when you benchmark against the new developments.

Conclude

This 3 bedrooms duplex penthouse unit meets several sweet spots and ticks many checkboxes:

1. Freehold – Longevity and an excellent store in value

2. 1,442 sq ft – Spacious size for family starter

3. $1,210 psf – Low entry psf pricing as compared to the new launches around us

4. Close proximity to public transport system

5. Rare product, being the only 3 bedrooms penthouse unit in the entire Parc Elegance development

If you are keen to find out more about this unit, you may click here: Parc Elegance, 13 Telok Kurau Road, 3-Bedroom, 1,442 sq ft

 

5. Flamingo Valley

 

Project details

If you had driven and cut through Opera Estate, more likely than not, you would have come across Flamingo Valley. This is a freehold development by FCL Estates Pte Ltd. It was completed in 2015 and is considered a medium-sized project with 393 units in total. In addition, this development is sitting on the biggest plot of land in this list at over 31,000 sq m, providing you with ample spaces between the blocks and for facilities too. It also has perhaps one of the best open spaces and facilities options in this list. Flamingo Valley will appeal to those who are looking for a resort-type surrounded by nature landscaping.

Location analysis

 

Situated in the heart of Siglap, where many locals termed as a food haven or a trendy chic town, this is a highly sought-after area in District 15. Being overcrowded and packed in with other small developments being one of the main concerns from many home buyers who are looking at District 15, this development will appeal to home-owners who wish for a serene and quiet environment as this project is nestled within the landed enclave in Opera Estate, away from the hustle and bustle of the main roads. Although it is located a distance away from the closest MRT stations, there is a running shuttle bus service which will bring you to Bedok MRT conveniently.

3 bedder penthouse details + floor plan

 

The 3 bedroom duplex penthouse unit is slightly different from the earlier options as you get a complete outdoor roof terrace equipped with your very own spa pool for this home. This is great for home owners who are seeking for the ample roof terrace space which they can engage in all of their gardening needs, outdoor activities such as water play for the kids, as well as creating an entertainment zone filled with outdoor tentage with settee, barbecue setup and perhaps a bar-counter.

One thing which we notice is that the home comes with quite a bit of bay windows which we feel home-owners can creatively make use of to better utilise these spaces. In addition, the current demarcated layout for bedroom 2 is a single bed, but perhaps the adjacent bomb shelter can be used as a walk-in wardrobe which will then allow bedroom 2 to accommodate a queen-sized bed. Apart from that, the other sections of the home are pretty well-sized.

Last transacted charts (Do note that the previous site underwent en-bloc in 2007)

 

 

Looking at the chart, we do want to point out that it is skewed upwards due to the en-bloc which happened in 2007. Looking at the transactions that took place, this project does have a healthy amount of transactions year-to-year. This is a positive sign as essentially volume in transactions will push the price mechanism upwards over time.

Conclude

Interestingly, the previous development underwent an en-bloc process in 2007, and the outcome now is the beautiful Flamingo Valley. Flamingo Valley is a serene project, and if you are a homeowner looking for lush greenery and water features landscaping, this will surely interest you.

 

6. Amber Skye

 

Project details

Amber Skye is a relatively new project and it TOP-ed in 2017. It is going to have door-step access to the upcoming Tanjong Katong MRT Station once that is up in the future. This is a freehold apartment due to its lesser-than-usual offerings in terms of facilities. The exterior facade means that the layout of the unit will see some curved perimeter and in our case of this triplex penthouse, the balcony and pool will both be shaped like cascading waves. This exclusive development comes with only 109 units and each of them come with their own private lift and will be perfect for home-owners looking to purchase a luxurious property in the Amber region.

Location analysis

 

The Amber-Meyer area has always been highly sought after by the affluent, mostly because of its proximity to the downtown region as well as to the Marine Parade zone. It provides the exclusivity, yet accessibility to amenities and food options which you can find aplenty in District 15. With the upcoming Tanjong Katong MRT right downstairs, it means that Amber Skye as a development will command a premium for this convenience.

3 bedder penthouse details + floor plan

 

For this 3 bedder triplex penthouse sized at 3,326 sq ft, it is facing towards MBS so you will be able to get a full view of the fireworks during National Day. Downside is that for this stack, you will be subjected to the west afternoon sun but apparently, the glass windows of all homes are double-glazed, blocking and keeping out a good percentage of the sun rays and heat. You have your own private lift and foyer.

The 1st and 2nd levels are allocated to your liveable spaces with high ceiling over the dry kitchen and dining area. For a home of this size, we find the common bedroom on the 2nd level to be quite small, otherwise the junior master and the master bedrooms are well-sized. On the roof level, you get your own private pool and jacuzzi with an outdoor roof terrace perfect for hosting friends and family.

Last transacted charts

 

The last transacted penthouses units just a few months ago were between $1,556 psf – $1,611 psf, which have risen slightly since its launch a few years ago.

Conclude

With its proximity to East Coast Park and the downtown regions, this area will continue to see demand. Especially when the Thomson-East Coast line comes up, it is up to anyone’s guess on how the real estate value will be uplifted for properties in this stretch. If you are on the hunt for a luxurious freehold penthouse unit in the Meyer-Amber region, this unit will surely interest you.

 

7. Cote D’Azur

 

Project details and why should you consider it

Developed by the renowned Frasers Centrepoint Homes and ADDP Architects, this 99-years leasehold project was extremely popular when it launched in 2004. During that era, it was considered a large-sized project and it offers breath-taking panoramic sea views, enhanced by full-height windows that many homeowners crave for. There are a total of 612 units ranging from 1 to 4 bedders units. It currently still has a healthy balance lease of 79 years.

Location analysis

 

In terms of its locale, Cote D’Azur is located just beside the famous Amber roundabout. Adjacent to it, you can also find the ever-popular Parkway Parade where you will be able to find all the amenities, F&B options, Enrichment classes and private schools for your needs. With the upcoming Marine Parade MRT Station just a short 5 minutes walk, this development will definitely see its accessibility greatly enhanced. It is also closely located to East Coast Park where families can enjoy a great day of recreational activities together. It is just a short 3 minutes drive to ECP expressway which will bring you very quickly to Changi Airport in the east, or the downtown regions in under 10 minutes.

3 bedder penthouse details + floor plan

 

 

Looking at the 3 bedder triplex penthouse unit, this is sized generously at 2,369 sq ft. Coming into the unit, there is a long entrance foyer, which can be a nice area for your shoe racks and some storage space. The living and dining spaces are pretty ample and squarish in size. You also get an enclosed kitchen with a yard, utility room and WC at the back. The balcony joins both the living space to the one of the common bedrooms. While the 2 common bedrooms share a common bathroom, they are both nicely sized and provision for a queen-sized bed each.

Moving on to the 2nd floor, this is where the master bedroom and its ensuite bath is situated at. About a third of the space on this floor is allocated to the roof terrace which we feel can be converted to a nice outdoor garden where you can put your swing, do your gardening or even convert into an outdoor gym area. Lastly on the roof storey, this is a complete roof terrace space which we feel can be a little excessive. If you do have ideas and needs for a lot of outdoor terrace space, this unit will be ideal for you.

Last transacted charts

 

Based on the transactions that have taken place in 2021, the units in Cote D’Azur are mostly averaging between 1,4xx psf to 1,6xx psf. A recently transacted bigger penthouse unit at 3,412 sq ft was sold for $4.8m at $1,407 psf.

Conclude

Cote D’Azur continues to appeal to many East Coast and Marine Parade lovers because of its status as a high-rise development. Standing at the top of the development with an endless sea in sight is truly something to behold. Furthermore with the upcoming Marine Parade MRT just a few minutes walk away, this development will get a refreshed round of attention once again.

 

In Summary

In this article, we look at 7 available 3-bedder penthouses out there in D14/15. We think that in terms of PSF, these are within a healthy range and are worth a look at, especially if you are on the hunt for a penthouse unit in these 2 districts. With this, we hope that this article has at least piqued your interest in penthouses.

Stay tuned for our next PLB research and featured insights! For those who are interested in finding out more or would like to start planning for your property portfolio, you may contact our team here! Take care!