*This article was written on 6 Apr 2023 and does not reflect data and market conditions beyond.
Located along the Serangoon River in Hougang, Kingsford Waterbay overlooks the moving waters and greenery. Hougang is a bustling residential town in the northeastern region of Singapore. With a diverse population and well-planned infrastructure, residents enjoy easy access to various parts of Singapore. The estate offers a range of housing options, shopping and dining choices, and parks and green spaces, making it an ideal location for both work and leisure. Hougang is a vibrant and dynamic estate that offers a high quality of life for its residents.
This opinion piece will provide an in-depth review of the Kingsford Waterbay apartments situated in Hougang, Singapore. We will delve into key aspects such as location, pricing, floor plans, and notable amenities. If you’re searching for resale options in the northeastern part of Singapore, this review can assist you in selecting the most suitable condo that caters to your family’s requirements. Without further ado, let’s dive into the specifics of who would benefit the most from this Outside Central Region (OCR) condo on the resale market.
Location Analysis
Kingsford Waterbay is situated approximately 1.2km away from Hougang MRT station, which is a quick 15-minute bus ride away. Although it’s not directly adjacent to the MRT, it is still highly accessible via a bus stop opposite Serangoon Secondary School. The surrounding area comprises a healthy mix of private and public residences, which offers a broad potential audience for the resale of these apartments. Furthermore, this heartland resale option offers not only a fantastic view but also excellent access to nearby schools in the neighbourhood.
The location of Kingsford Waterbay in close proximity to schools provides a great advantage to residents, especially families with school-going children, as it offers easy access and convenience. The availability of larger units in the development makes it an ideal choice for such families, providing ample living space. However, only a limited number of units (21.3%) are sized above 900 square feet, making the larger apartments highly desirable. Despite this, the mega-project status of the development could still provide promising opportunities for prospective buyers looking to own a unit at Kingsford Waterbay.
Kingsford Waterbay is a cost-effective choice for families with school-going children and multi-generational families, offering spacious units and proximity to several schools. It is priced at a reasonable psf and provides better value for money in terms of living space compared to new launches and other resale condos closer to the central region. The schools located within a 1 km radius of the development include: Serangoon Secondary School, CHIJ Our Lady of the Nativity (OLN), Holy Innocents’ High School, Punggol Primary School, and North Vista Secondary School.
Regarding amenities, residents of Kingsford Waterbay can access a FairPrice supermarket located 300m north, along Upper Serangoon View. For shopping options, there’s the Hougang Mall located near the Hougang MRT station and the upcoming Sengkang Grand Mall near Buangkok MRT. The location also offers a range of options for an active lifestyle. The Serangoon Park Connector, located along the Serangoon River, provides a peaceful environment with green and blue surroundings. Punggol Park, situated only 400m away, is an alternative space for residents looking to exercise.
Site Plan & Unit Distribution
Kingsford Waterbay offers a diverse selection of unit layouts ranging from 1 to 5 bedrooms. The development comprises 1,157 residential units spread across 9 blocks, each with 16 floors. The number of stacks per block varies between 8 to 9, depending on the size of the units. With the exception of block 64, which houses 2-Bedroom and 3-Bedroom units, all towers enjoy both East and West sun with slightly less than half the stacks having a great river-view. The block also features a dual key 3-Bedroom variant. One of the most unique features of this project is the strata landed offering for its Terrace and Semi-Detached houses, which adds an exciting element to the development.
Kingsford Waterbay places a significant emphasis on offering 1, 2, and 3 bedroom units, which are evenly distributed throughout the development with a total of 71 out of 78 stacks. The 4-bedroom units are available in only 6 stacks, located on blocks 72, 76, and 80, while the 5-bedroom options can be found in stack 65 of block 78. With this diverse range of options, potential home buyers can choose from a variety of unit sizes, layouts, and block orientations that suit their individual needs and preferences.
The average price per square foot (psf) of Kingsford Waterbay has increased by around 19% between 2015 and 2022, reaching an average price of $1,326 psf in 2022. In 2022, a total of 79 residential units were transacted, accounting for approximately 6.8% of the 1,157 total units available. Based on the increase in average psf, the simple annualised gain for Kingsford Waterbay within this timeframe is about 2.4%. For comparison, the average psf of Heron Bay and Riversound Residence in 2022 was $1,071 and $1,169, respectively.
Upon analysing the data, it can be observed that Heron Bay had the highest growth rate of 24% between 2015 and 2022, whereas Kingsford Waterbay grew by 19% and Riversound Residence by only 3% during the same period. Although each project has its own TOP year (Kingsford Waterbay in 2018, Heron Bay in 2015, and Riversound Residence in 2015), it is generally expected that newer projects will have a higher growth rate. However, Heron Bay performed remarkably well during this period largely due to its Executive Condo status.
MOAT Analysis
To offer an impartial and comprehensive evaluation of Kingsford Waterbay, we employed a rigorous MOAT Analysis that evaluates the property from various angles. To compare Kingsford Waterbay with four other resale options nearby that are similar in age, we examined it as a resale condominium. Our MOAT Analysis carefully assesses Kingsford Waterbay across ten different dimensions, providing a fair and unbiased assessment of the property. For further information on our MOAT Analysis, please refer to our informative article, available at the link provided.
To provide a detailed comparison, we have selected four nearby resale options of similar age and size to Kingsford Waterbay. These properties include Heron Bay, a 394 unit Executive Condominium (EC) that was completed in 2015 and has a 99-year leasehold from 2012. Boathouse Residences, a 493 unit condominium that was completed in 2015 and has a 99-year leasehold from 2011. Riversails, a 920 unit condominium that was completed in 2016 and has a 99-year leasehold from 2011. Lastly, Riversound Residence, a 590 unit condominium that was completed in 2015 and has a 99-year leasehold from 2011. Kingsford Waterbay, on the other hand, is a 1,157 unit condominium that was completed in 2018 and has a 99-year leasehold from 2014.
You can see that their MOAT profiles are largely similar, with some slight variations in Parents’ Attraction Effect. Almost all of the condos in this area perform exceptionally well in Quantum Effect and Exit Audience. The final MOAT scores are as follows: Kingsford Waterbay (60%), Boathouse Residences (64%), Heron Bay (60%), Riversails (62%), and Riversound Residence (64%).
Based on the MOAT Analysis, Kingsford Waterbay stands out with the highest scores in the Quantum Effect and Exit Audience dimensions. This is due to the attractive pricing options offered by its 1 to 3 bedroom units and its location within a vibrant and varied residential cluster. The development’s status as a mega project, with over 1,000 units, has helped it maintain a strong performance in the Volume Effect, even years after its TOP. Additionally, Kingsford Waterbay has shown decent growth and overall performance in key dimensions assessed in the MOAT Analysis.
Floor Plan Analysis
Our objective in this section is to provide you with an extensive overview of Kingsford Waterbay’s floor plans. We have meticulously covered every available bedroom size, from 1-bedroom to 5-bedrooms, showcasing the various unique layouts that will help you identify the best living options that meet your requirements. By providing you with this comprehensive information, you will be able to make an informed decision about the floor plan that best suits your needs. The 1-bedroom apartments in Kingsford Waterbay are all west-facing towards the swimming pool. The Type A1 layout (~484 sqft) features a classic and efficient design that is typical of 1-bedroom units. One important thing to note is that the bedroom does not have a door leading directly to the bathroom; residents need to access it through the living space. Additionally, the unit includes a balcony that enhances natural lighting in the living and bedroom areas while creating a balance between indoor and outdoor spaces. Overall, the 1-bedroom layout maximises the functionality of the home while making efficient use of space.
The Type B1 floor plans for 2-bedroom units at Kingsford Waterbay offer a living space measuring approximately 635 square feet. The layout is designed with an L-shaped kitchen located closer to the entrance, providing a seamless flow from the main entrance to the living and dining area. The dining space is positioned adjacent to the kitchen, making it convenient for residents to serve meals. The living area receives ample natural light from the balcony, enhancing the overall ambience of the space. The two bedrooms are well-sized and share a single bathroom. This layout offers comfortable living for young couples, who can enjoy the privacy of separate bedrooms and the convenience of a shared living space.
The Type C4 dual key unit at Kingsford Waterbay is an attractive option for those seeking a 3-bedroom layout. With 980 square feet of living space, the unit is well-organised and offers a good balance of privacy and communal areas. The smaller apartment has a compact and efficient layout, with the bedroom, kitchen, and bathroom all partitioned neatly with a common boundary. In the main apartment, there is a larger living space, with the kitchen and dining area situated closer to the entrance. The balcony space connects to bedroom 2 and the living area, providing ample natural light and ventilation. This layout is popular among investors, as it provides an excellent rental opportunity with the potential for higher Rental Yield. It also offers an in-built downsizing option for buyers who may wish to rent out part of the home in their retirement years.
The Type D1 4-bedroom layout offers 1,033 square feet of living space, making it suitable for larger families. The kitchen space is neatly tucked into a corner near the entrance. The master bedroom has an en suite bathroom, but the other 3 bedrooms share a common bathroom with the living space. There is also a corridor connecting all the bedrooms to the living room. This layout might be considered quite compact for multi-generational families.
Kingsford Waterbay offers a rare 5-bedroom option, with only one stack of units available. The Type E1 unit measures around 1,356 square feet, making it an ideal choice for multi-generational families with a live-in helper. The elongated layout includes a well-ventilated kitchen area with a utility room situated behind it. The balcony is much larger than other units, connecting two of the bedrooms to the living area. The master bedroom and bedroom 5 each have their own en-suite bathroom, while the other three bedrooms share a common bathroom with the living space. With its spacious layout and ample privacy, the Type E1 5-bedroom unit is a great option for families seeking a comfortable and accommodating living space.
The Strata Landed options at Kingsford Waterbay are a rare gem in the property market. They offer the best of both worlds, combining the living experience of a landed home with the facilities and maintenance of a condo. One of the layouts available is the Semi-D Type 3, offering a total of 1,948 square feet of living space. Comparatively, the typical Semi-D home with a 3-Storey build, generally has more than 2,000 sqft of space. This is due to the land size requirement, for it to be considered a Semi-D. Hence, this provides an alternative as a property that shares the privacy benefits of a Semi-D home, yet having a smaller internal area. Upon entering, the private parking area leads directly to the entrance, which opens up with a stairwell to the third floor and a powder room next to it. The second floor boasts a wet and dry kitchen, with the dining and living area.
There is also a bedroom on the second floor with an en suite bathroom that might appeal to families with senior members who may have mobility concerns. Additionally, there is a large private enclosed space for a comfortable outdoor living area. On the third floor, there is a common family area that connects two bedrooms with a common bathroom, and the master bedroom with an en suite bathroom. The master bedroom also has a private balcony space. Overall, the Strata Landed option is an excellent choice for those seeking a unique living experience in a bustling city like Singapore.
The Terrace House Type 1a is the final layout we will showcase in this article, offering 1,625 sqft of living space. This elongated layout has a simple L-shaped kitchen situated near the entrance, with the stairwell and powder room conveniently nearby. The common area comprises the living and dining space, accompanied by a private enclosed outdoor space. On the third floor, you’ll find the master bedroom with an en suite bathroom, and two additional bedrooms that share a common bathroom. The family area serves as a common space that connects these bedrooms on the third floor, and is also accompanied by another private enclosed outdoor space.
Kingsford Waterbay offers a diverse range of floor plans that cater to the different needs and preferences of potential residents. From the efficient and classic design of the 1-bedroom units to the spacious strata landed units, there is a wide selection of options available for individuals and families of varying sizes. The dual key option in the 3-bedroom units provides flexibility and functionality for multi-generational families or those who wish to rent out part of their home.
The terrace houses and semi-detached units provide the living experience of a landed home with the facilities and maintenance of a condo. The well-designed living spaces with ample natural lighting ensure comfortable and practical living. Additionally, the added retail amenities in this mega project provide added convenience to residents. In summary, Kingsford Waterbay’s floor plans have been thoughtfully crafted to cater to the needs of modern families and individuals seeking a comfortable and functional living space.
Growth Potential
The location of Kingsford Waterbay presents a strong potential for future growth, driven in part by the development of the nearby Paya Lebar Air Base (PLAB). As the area continues to develop, the residents of Kingsford Waterbay can look forward to the many amenities that will be available, such as parks, play spaces, connectivity, and retail and commercial options. However, with the rising costs of land and inflation, it is likely that future residential developments in PLAB will be more expensive, making Kingsford Waterbay an even more attractive investment opportunity. The potential for appreciation in property value over time makes Kingsford Waterbay an investment choice worth considering for those looking to secure a long-term investment. As the area continues to grow and develop, the value of properties in Kingsford Waterbay may increase in the coming decades, making it a potentially attractive investment for savvy buyers who want to capitalise on the potential for growth in this exciting area.
Kingsford Waterbay’s potential for price growth in the future is further supported by the upcoming Cross Island Line (CRL). The nearby Hougang MRT station will be connected to the CRL, which is only three stops away from Pasir Ris. This will serve as a bridge between the East and West sides of Singapore, significantly reducing travel times to previously less connected areas. As a result, Kingsford Waterbay residents will enjoy enhanced accessibility to the Jurong Lake District and the Aviation Park in Changi, making it an even more attractive location for potential buyers and investors.
Overall, Kingsford Waterbay and its surrounding area have promising growth potential due to continued development and connectivity improvements. The upcoming Paya Lebar Air Base (PLAB) and Cross Island Line (CRL) will further enhance the accessibility and amenities available to residents. However, it is crucial to consider that other residential projects in the area may also benefit from these developments. Therefore, it is advisable for potential buyers to conduct extensive research and analysis of available options before making any decisions. Comparing and evaluating different properties can help buyers make informed decisions and ensure that they invest in the most suitable property that aligns with their needs and preferences.
