Sited in a convenient spot between Serangoon, Ang Mo Kio and Hougang is Affinity, a 99-year lease residence of 1,012 units that combines accessibility with serenity.

Developed by Oxley Holdings, this major plan is an impressive undertaking with family-inclined 1-4 bedders and 5-bedder strata houses, but you probably already know that, as it was launched in mid-2018. In case you haven’t, take a look at our New Launch episode here and here.

+

Ever since the Cross Island Line news release, which placed Serangoon North on the MRT map in 2019, there has been a great deal of welcomed interest around the area; with an expected completion date of 2029. That’s not all.

In 2019, news that Serangoon polyclinic will be located opposite Nex. It isn’t far off from Serangoon North: a mere 5-minute drive away. It will be an integrated facility that will include an Active Ageing Hub and Kidney Dialysis, with an ETA of 2025.

 

Serangoon Gardens was also identified in URA’s preservation list, and the list of developing areas continues like Defu Industrial City and Serangoon Sub-Regional Centre.

Serangoon North is a matured heartland replete with renowned pet shops and vets — birds, hamsters, guinea pigs, cats, fishes and
aquatic landscaping.

 

—

 

While the Serangoon North MRT on the Cross Island Line is a beneficial accessibility for Affinity, the wait of 2029 might be rather unnerving for some. That’s about five years away from the expected completion date for Affinity. Same goes for the future Serangoon Polyclinic, due in 2025. COVID-19 has definitely impeded the timelines as well.

 

The trade-off for accessibility — In comparison to Garden Residences sited deeper in the Serangoon North enclave, Affinity at Serangoon is susceptible to the peak hours of this four-way junction connecting Yio Chu Kang Road, Phillips Avenue and an Entrance to the Serangoon North estate.  The distance is around 150-200m out, so the noise pollution will not be overbearing.

The closest B-road is a nice, winding lane lined with matured trees, but is a single lane and is the route of the 315 feeder bus. Unless LTA has plans to increase the roads by another lane, it probably will get a little busy during peak hours. Oh and with matured trees, what’s certain is you’ll hear the Singapore Asian koel in the early mornings.

 

Schools

School accessibility is almost always a priority for young families; some even predicate their decisions on school selection. Here are the list of nearby schools as well as an approximate times for the journey.

Primary Schools within 1km
Zhonghua Primary School (8-min drive)

Rosyth School (6-min drive)

Preschool
Cambridge @ Serangoon Garden (7-min drive)

My First Skool @ Serangoon North (2-min drive)

Merlion Kids International Preschool (5-min drive)

SFX Catholic Kindergarten (5-min drive)

Primary

Xinmin Primary School (6-min drive)

CHIJ Our Lady of Good Counsel Primary School (5-min drive)

St. Gabriel’s Primary School (8-min drive)

Secondary

Serangoon Garden Secondary School (3-min drive)

Bowen Secondary School (6-min drive)

Xinmin Secondary School (6-min drive)

St. Gabriel’s Secondary School (10-min drive)

Let’s not forget the list of sought-after international schools nearby as well

International French School (4-min drive)

Stamford American International School (11-min drive)

Australian International School (8-min drive)

Olympiad International School (6-min drive)

Time for the real meat: Location Analysis

Taking a look at Affinity’s locality, you will find that Serangoon North’s Cross Island Line (ETA 2029) is just one stop away from Hougang MRT Station (NE14) on the Purple Line. Geographically, though, Serangoon North is nearer to Serangoon MRT Station (NE12).

Per Square Feet-wise, Affinity at Serangoon is going for $1400 ~ $1600 PSF. Sengkang Grand Residences, located at Buangkok MRT Station (NE15) is going for $1700~$1800 PSF.

Further down the line, we have Woodleigh Residences going at $1900~$2200 PSF, and Park Colonial going at $1900-$2000 PSF. So from this short observation, Affinity stands rather affordable compared to its other counterparts.

 

Exit Strategy

It is vital to understand the exit strategy opportunities in the region. Future 2024 MOPs are Fernvale Woods, Anchorvale Plains, Alkaff Lakeview and Alkaff Vista. Waterfront I and II, Northshore Straits View, Northshore Residence I and II; Matilda Sundeck, Anchorvale Plains, Alkaff Courtview and Alkaff Oasis MOP year are in 2025. From the estimated selling prices, parties who are BTO upgraders are potential exit strategies — a sizeable pool is expected to sell their HDBs and will be on the lookout for condo residences.

To further iterate our perspective, total number of relevant MOPs around District 19 is 11,342 units (from the list above). Compare that to Affinity’s total unit count of 1,012 units, and you can very well deduce the odds of a successful exit strategy. But that’s a little biased, isn’t it? Not quite.

The condos at the locality to contest the piece of the pie are namely: Garden Residences (obviously), Terrasse, Hundred Palms and Kensington Park ( sited beside Garden Residences, a 1990 development, 316 units). That’s it. But Hundred Palms averages at $1,164 PSF, which is pretty affordable for an Executive Condominium.

As neatly described by 99.co, regular condos have appreciated by over 158% since 2004, while ECs are lagging at 130% appreciation. Don’t forget that ECs act like HDBs and can’t be sold to foreigners until the 11th year. You can sell after the EC’s MOP in five years, but either way, that cuts down the chances of your buying pool.

 

Stack Analysis and comparison

Looking at the rough figures for Park Colonial and Woodleigh Residences, which are closer to Town, Affinity is significantly more affordable when looking at PSF vs PSF PPR for the 3-bedder typologies.

Next up, the comparison between Affinity at Serangoon vs Garden Residences is a common battlefield due to their close vicinity, so let’s revisit the recent showdowns we have compiled for you.

 

*estimations only, courtesy Squarefoot

From the listing above, it can be observed that a 3-bedroom’s PSF for Affinity is almost equivalent to the estimated Garden Residences Breakeven PSF PPR. The second image shows an example of Affinity’s remaining 33%.

The next comparison that we have, is a matter of layout between Affinity and Garden Residences.

Be it family of four or a couple just about to begin the next phase in life, then the extra space of a Utility/Store room might not be a dealbreaker, as the $1.3~mil price range is more palatable than the 3-bedder + utility setup going around the $1.7-$1.8 mil range.

#13-06 is going at a considerable 850 sqft for $1.3mil, with #12-06 and #11-06 at similar price points (so you can gauge the mean).

Compared to Garden Residences, its #11-35 unit is going for $1,312,700 for 797 sqft. But what is the catch?

The third bedroom can only hold a single bed.

 

Best Stack Suggestions

Based on our studies, the best stack should not be facing the main road to minimise daily road noise.

Of the remaining stacks facing inward, we suggest the North Facing stacks. Please contact PropertyLimBrothers here if you would like to know more about Affinity at Serangoon’s remaining units, and our analysis on the underrated stacks. We have sold 269 properties in a span of two years, and will be able to analyse for you the best stacks to purchase.

 

Verdict

 

The average PSF has been steadily at the 1400-1500 PSF mark, which means the demand for units is still there. Also, do take note that the lowest landed terrace house in the vicinity is going at $2.6mil, which is the general cap for max price points for condos. So make sure you do the math, and ensure you know how profitable will be your investment.

As with the comparisons shown above, always keep on a look out for investment opportunities, regardless of a development being snapped up. Sure, the best stacks may have been taken, but the locality and accessibility of the development may be understated for its potential exit strategy.