*This article was written on 13 Apr 2023 and does not reflect data and market conditions beyond.
The Tre Ver is a TOP condominium that is bound to make a splash in the RCR. Found along the Kallang River, between Toa Payoh and Woodleigh, this project is near the cluster of St. Andrew’s schools. The Tre Ver is a moderately large development, with a total of 729 units in total. This 99-year leasehold condominium is located along Potong Pasir Avenue 1, and is around 650m away from Woodleigh MRT (North-East Line) and 750m away from Potong Pasir MRT (North-East Line). It also has quick access to both the Pan-Island Expressway (PIE) and Central Expressway (CTE).
This article offers a detailed review of The Tre Ver condominium located in Potong Pasir. It covers essential aspects such as its location, pricing, floor plans, and amenities, aimed at assisting potential buyers looking for a resale property in the RCR. Furthermore, the review focuses on the condo’s features, advantages, and benefits, making it an informative resource for those considering an investment in the area. Additionally, current residents of Potong Pasir exploring upgrade or exit options can benefit from the article’s insights. Its comprehensive coverage and valuable information make it an essential read for anyone interested in purchasing a property in the area.
Location Analysis
The Tre Ver is located approximately a 10 minute walk away from Potong Pasir MRT. While this particular condominium is not located right beside the MRT, or an integrated development, the main appeal of the project is the Kallang River facing that some units offer. The Tre Ver offers the laid back vibe of the heartlands, while having the convenience of being located nearer to the Core Central Region (CCR).
The Tre Ver is located near a variety of schools, St. Andrew’s Junior College, Secondary, and Junior School are all located within 1km. There are also other options such as Pei Chun Public School and Stamford American International School. The condo offers a range of unit sizes (1 to 4 bedrooms), with a stronger focus on 1 and 2 bedroom units, which take up approximately three quarters of the units offered. This unit distribution is typical of private non-landed projects found in the area. The larger bedrooms will be a rarer find and might be more sought after in this immediate area.
The Tre Ver development offers several amenities for its residents. The NTUC Fairprice supermarket is located within a 10-minute walk, from The Poiz Centre, which is near Potong Pasir MRT. There is also a closer alternative, HAO mart is located on the other side of the Kallang River, just 200m away. Within 500m of the development, you will also find a Futsal Court, the Town Council, and Kwong Wai Shiu Hospital.
Site Plan & Unit Distribution
The Tre Ver features a variety of 1 to 4 bedroom unit layouts, with a total of 729 residential units spanning 8 blocks with 7 to 20 floors depending on the tower. The blocks in this development feature the classic point block design, with some blocks having a half-point block design. Overall, the site plan has some morning sun exposure (for east-facing stacks). The entrance is nearer to the southern blocks, but the northern blocks might be able to enjoy a better river view with a more serene atmosphere.
The Tre Ver has a strong focus on 1 and 2 bedroom units, which take up the majority of the units in this development. The units of interest in District 13 would be the larger unit sizes that are typically more of a rarity in the RCR due to the higher quantum (especially one with a nice river facing). There are a total of 12 stacks of 3 bedroom units (approx. 162 units) and 3 stacks of 4 bedroom units (approx. 27 units). However, the 2-bedroom options that have the river facing might be an attractive option for prospective buyers too.
Price Analysis
For the Price Analysis section of this opinion piece, we compare The Tre Ver (in orange) to The Poiz Residences (in light blue) and 8@Woodleigh (in dark blue). We chose these condos due to the proximity and age of the development. The Poiz Residences is a Condominium with a 99-year leasehold from 2014 and was completed in 2018 with a comparable size of 731 units. 8@Woodleigh is a Condominium with a 99-year leasehold from 2008 and was completed in 2012 with a moderate size of 330 units.
In the chart above, you can see Condos closer to the Potong Pasir side (which is closer to the CCR), are priced at a much higher level. After analysing the performance of The Tre Ver, The Poiz Residences, and 8@Woodleigh from 2018 to 2023Q1, we observed that The Poiz Residences experienced the highest growth rate of around 43%. This growth can be attributed to the integrated nature and close proximity to the MRT station.
In comparison, The Tre Ver and 8@Woodleigh recorded growth rates of approximately 23% and 16%, respectively, during the same period. As of 2023Q1, the average PSF transacted for The Tre Ver is $1,916, The Poiz Residences is $1,904, and 8@Woodleigh is $1,674. However, it is important to note that these prices may differ from current asking prices due to the forward-looking nature of the market.
MOAT Analysis
In order to present an unbiased and comprehensive evaluation of The Tre Ver, we conducted a thorough MOAT Analysis that assesses the property from multiple perspectives. As a resale condominium, The Tre Ver was compared to three other similar-age resale options in the nearby vicinity. Our MOAT Analysis systematically evaluated The Tre Ver based on ten different dimensions to provide an impartial and well-rounded view of the property. For further details on our MOAT Analysis methodology, please refer to our informative article.
We compare The Tre Ver (729 unit condo, TOP 2022, 99-year leasehold from 2018) with Blossoms @ Woodleigh (240 unit condo, TOP 2007, Freehold), Park Colonial (805 unit condo, TOP 2021, 99-year leasehold from 2017), The Poiz Residences (731 unit apartment, TOP 2015, 99-year leasehold from 2014), and 8@Woodleigh (330 unit condo, TOP 2012, 99-year leasehold from 2008).
You can see from their MOAT profiles above that these developments generally do well in the Bala’s Curve Effect, Region Disparity Effect, Rental Demand, Quantum Effect and MRT Effect. This signals that the condos in this area are relatively new and are priced competitively when compared to other condos in the region. The rental demand for these condos is probably high due to the accessibility of the location and proximity to the CCR. The higher quantum effect score might be due to the presence of much smaller units rather than a low PSF. The final MOAT scores are as follows: The Tre Ver (62%), 8@Woodleigh (62%), Blossoms @ Woodleigh (52%), Park Colonial (66%), and The Poiz Residences (72%)
According to the MOAT Analysis, The Tre Ver has the highest scores for Landsize Density Effect, Bala’s Curve Effect, Region Disparity Effect, and Quantum Effect. It is worthy to note that this puts The Tre Ver as the most spacious condo among the comparables (in terms of the compound). As The Tre Ver has recently TOP-ed, we expect Rental Demand and Volume Effect scores to increase, bringing its total MOAT score closer to the 70s range, at a more comparable level with The Poiz Residences.
The main appeal of this project is that it is located in District 13 (Toa Payoh) with a nice facing of the Kallang River. It is located within a reasonable distance from Potong Pasir MRT and is typically considered as a good RCR location. It is also near St. Andrew’s cluster of schools, which may be a boon for families with school-going children.
Floor Plan Analysis
The primary objective of this section is to equip you with a comprehensive understanding of The Tre Ver’s various floor plans. We have meticulously curated a detailed coverage of each bedroom size available, ranging from cosy 1-bedroom apartments to spacious 4-bedroom units, to give you a clear idea of the living options that would align with your needs and preferences. Our ultimate goal is to empower you to make an informed decision about which floor plan would best suit your requirements and lifestyle, by providing you with all the necessary information at your fingertips. The Type A3 1-Bedroom layout, spanning 495 sqft, is a popular choice among 1-bedroom units due to its versatile and compact design. Upon entering, the elongated entrance corridor leads to the well-equipped kitchen, followed by the dining space, which is thoughtfully placed against the wall to optimise space usage. The living area is seamlessly integrated with a balcony that floods the interior with natural light, creating a cosy and welcoming ambience. The master bedroom and bathroom are conveniently linked to the common living space and directly to each other through a direct sliding door, further enhancing the layout’s functionality and practicality. This 1-bedroom layout stands out in particular with its river facing view.
If you are interested in the Type A2 Patio unit for 1-Bedroom units, you may check out our home tour here.Avenue South Residences, 1 Bedroom, 527 sqft
At The Tre Ver, there are several 2-bedroom options available, each with its unique features and benefits. However, the Type B6P floor plan stands out as one of the more efficient 2-bedroom layouts, offering approximately 700 square feet of living space with a dumbbell design. The B6P layout features a well-designed partitioning of space, with the bedrooms connected on opposite sides of the living room, making it a highly sought-after option for those seeking privacy and space efficiency. This level of efficiency is uncommon among 2-bedroom layouts in newer developments, making the B6P layout at The Tre Ver a noteworthy and practical choice for those in search of a comfortable and functional living space.
If you are interested in other 2-Bedroom options, we currently have a listing for a 753 sqft listing available.
The Type C4 3-Bedroom Premium layout at The Tre Ver is a spacious option for those seeking a 3-bedroom unit. Measuring at 1,098 sqft, it provides ample living space for families with children and a live-in helper. The unit features a utility space and a washroom located behind the kitchen area, providing additional storage and functionality. The master bedroom has an en suite bathroom, while the other two bedrooms share a common bathroom with the living room. The dining and living areas are compact, but the balcony space, which is connected to bedroom 3, offers river views and natural light. The master bedroom also has its own balcony. Overall, the Type C4 3-Bedroom Premium layout at The Tre Ver is a practical and spacious choice for families looking for comfortable riverfront living.
The Type D2 layout at The Tre Ver is a spacious 4-bedroom option, ideal for larger or multi-generational families with live-in helpers. Measuring approximately 1,378 square feet, this layout offers breathtaking river views and ample living space. The layout includes both a dry and wet kitchen, with a washer/dryer area and utility space and washroom located behind the kitchen. The living area is equipped with a bar top counter and a spacious balcony, perfect for entertaining guests or enjoying family time. The master bedroom and junior master both have en suite bathrooms, while bedrooms 3 and 4 share a bathroom with the common area. The master bedroom also features its own balcony, providing a private space to unwind and enjoy the serene surroundings.
The Tre Ver offers a range of layouts that cater to different needs and preferences. For those looking for a cosy living space, the 1-bedroom Type A3 layout offers a functional and practical option. The 2-bedroom Type B6P layout stands out with its efficient partitioning of space, while the 3-bedroom Type C4 layout provides ample space for families with children and a live-in helper. The 4-bedroom Type D2 layout is ideal for larger families, offering breathtaking river views and spacious living areas. Each layout includes unique features such as balconies, en suite bathrooms, and utility spaces, providing residents with a comfortable and convenient living experience.
Growth Potential
Many prospective investors and buyers reference the URA Master Plan to assess the growth potential of a development. It’s worth noting that the Master Plan is designed to forecast the next 10 to 15 years, with a review every 5 years. This means that the 2019 Master Plan is scheduled for review in 2024. However, while the Master Plan provides a useful guide for potential growth areas, it is subject to changes and revisions based on the government’s priorities and unforeseen circumstances. Therefore, it’s important to use the Master Plan as a reference point but also to conduct additional research and seek professional advice before making any investment decisions.
The Woodleigh area does not highlight any particular new developments under the master plan itself. However, there are quite a few development plans when it comes to the Toa Payoh – Bishan area. The ones most relevant to The Tre Ver would be the focus on increased connectivity via the Kallang River. There will be seamless connectivity for walkers and cyclists to other towns along the Kallang River to the city centre.
Generally, the nearest MRT for The Tre Ver is Potong Pasir MRT on the purple line. While it already has decent connectivity to the city (4 stops to Dhoby Ghaut), it will benefit from the new Cross Island Line when it comes to lateral transportation links to the RCR and OCR via the Circle Line (2 stops away) and Cross Island Line (4 stops away) respectively. This will help reduce travelling times to more distant parts of the island via the MRT system.
The growth potential of The Tre Ver is largely influenced by connectivity-related changes in the area. The development’s location along the Kallang River presents potential for future growth, particularly with the potential developments along the river. The success of these initiatives will be instrumental in shaping the growth potential of the area, which will in turn affect the growth potential of The Tre Ver. It’s important to note that while The Tre Ver has some potential for growth, it is also subject to market forces and the overall economic climate.
The Verdict
Located in the Potong Pasir area in the RCR, The Tre Ver offers a great option for those looking for a comfortable residence in District 13 along the Kallang River. As an RCR resale condo, it is priced palatably compared to the new launch segment while providing a great value proposition for home buyers who are looking for a place to move into immediately. The development features an extensive range of floor plans and amenities, catering to families of various sizes, while its strategic location offers easy access to key amenities such as schools, supermarkets, and natural spaces. Additionally, with the upcoming connectivity upgrades, residents will enjoy even more connectivity options to other parts of Singapore as well as the city centre, leading to a potential growth in the future. While there may be other residential projects in the area that may experience similar benefits, The Tre Ver stands out with its river facing view. Overall, The Tre Ver offers a comfortable living experience that caters to the needs of homebuyers seeking a scenic option in the area. If you’re looking to learn more about The Tre Ver, check out one of our home tours here, and our current available 2-Bedroom listing here. Or if you’re a current homeowner thinking about selling your unit, please feel free to contact us for further information on our services and how we can assist you with your property journey.
