Emerged as the top bidder out of 24 property developers in April 2017, S P Setia looks set to deliver an architectural masterpiece like never before in the Toh Tuck Road precinct.
Despite being one of the hottest contested residential sites ever among property developers, Daintree Residence by S P Setia doesn’t seem to be very popular among homebuyers.
Since it was launched back in July 2018, only 69 out of 327 units have been sold up till 14 November 2019. Hence, it translates to a take-up rate of only 21 percent within 16 months.
“Bewildering” and “bullish” were the words that market watchers used to describe the outcome of the tender and bids received.
The intense competition from developers was mainly driven by their depleting land banks at that point in time.
And furthermore, this site at Toh Tuck Road was only sold for $265 million – which was considerably affordable for most developers. As a matter of fact, 10 out of 24 bids were more than $200 million.
So what’s wrong with Daintree Residence?
If so many developers were vying for this site, why is the reason behind the underwhelming response from homebuyers?
Was it just a moment of impulse from the developers? Is Daintree Residence a good buy?
Let us go through some of the details of this new launch condominium. Finally, I’ll give my personal thoughts in the review section.
Daintree Residence Condo Project Information
Here is a quick overview of the Daintree Residence condo project information.
|Project Name||Daintree Residence|
|Address||11A – 11M Toh Tuck Road, Singapore 596134|
|Developer||S P Setia Bhd Group|
|Site area||201,517 sq ft|
|Total number of units||327|
|Number of blocks||12|
|Number of storeys||5|
1-Bedroom + Study
2-Bedroom + Study
|Expected TOP date||Estimated June 2022|
Daintree Residence Developer
The developer of Daintree Residence is S P Setia Bhd Group, a public-listed company in Malaysia.
It started out as a construction firm back in 1974 before focusing on real estate development as its core business in 1996.
Besides real estate, S P Setia is still very much in the construction business and has ventures involving wood-based manufacturing, trading, and infrastructure.
Being a Malaysian company, S P Setia has a strong presence in the 3 key economic regions within Malaysia. They are located in the states of Johor, Penang, and Sabah.
Globally, the group is also well-established in various countries such as Singapore, Vietnam, Japan, Vietnam, China, and even the United Kingdom. The most recent overseas venture for S P Setia is within Japan.
To date, S P Setia has developed and completed 2 private residential developments in Singapore. They are 18 Woodsville (near Potong Pasir MRT station) and Eco Sanctuary (within the Dairy Farm precinct).
Daintree Residence Location
Daintree Residence is located along Toh Tuck Road, with a coveted address of 11A – 11M Toh Tuck Road, Singapore 596134. It is situated in between The Creek at Bukit condo and High Oak condominium.
Looking around the precinct, you will notice that the Daintree Residence condo is located within an enclave which comprises mainly private and landed homes.
Other than the exclusive environment, there are plenty of perks in the area which may appeal to homebuyers.
Walking distance to Beauty World MRT station
The Beauty World MRT station is the nearest MRT station to Daintree Residence.
According to Google Maps, the walking distance is approximately 600 meters and it will require 7 minutes to reach the station.
One thing to note is that the Beauty World MRT station is situated along the Downtown MRT line.
Hence, residents will enjoy seamless connectivity to the core city center and downtown areas of Singapore. These areas include the Central Business District (CBD) and Marina Bay, etc.
For those who aren’t driving and are working in these business and financial districts, being near an MRT station would definitely be a plus point.
Near a wide array of amenities
At Daintree Residence, you will be surrounded by a wide range of amenities.
The Beauty World Centre, Bukit Timah Plaza, and Bukit Timah Shopping Centre are some of the closest shopping malls and complexes in the area. They are all within a short 10 to 15 minutes’ walk away from the Daintree Residence condo.
For foodies, there are also plenty of F&B outlets situated along Jalan Jurong Kechil and Upper Bukit Timah Road. Therefore, you won’t need not travel out too far to satisfy your hunger.
Other than that, you will also find a pet groomer, tire shops, a mini-mart, and other stores along the same stretch of roads.
If you don’t mind driving or traveling out a little further, mega shopping malls and popular dining spots such as IMM Mall, JCube, The Clementi Mall, Dempsey Hill, and the future One Holland Village are all within a short 10 minutes’ drive away.
Within close proximity to various top educational institutes
Getting the young ones into a good primary school is probably one of the top priorities for parents.
Therefore, you will be happy to know that Daintree Residence is within 1 km to Pei Hwa Presbyterian School – one of the most popular primary schools in Singapore.
There are other 2 primary schools within the 1 km radius. They are Bukit Timah Primary School and Keming Primary School.
Methodist Girls’ School (MGS) is also one of the most notable primary schools in the area. However, it is outside the 1 km radius (around 1.55 km away).
For those who are looking at higher-level education, various secondary schools and tertiary institutions are also within the precinct.
It includes Nanyang Girls’ High School, Hwa Chong Institution, Singapore Chinese Girls’ School, National Junior College, Hwa Chong Junior College, and Ngee Ann Polytechnic, etc – all within a short 10 minutes’ drive away.
Daintree Residence Condo Facilities
Personally, I’ve seen Eco Sanctuary – one of S P Setia’s projects, and frankly, it was amazing. I can totally see it be replicated for the Daintree Residence condo.
If you were to look at the form and landscaping of Daintree Residence, it’s really all about exceeding the boundary of architectural design.
One of the astounding features is that several blocks are being linked with a TreeTop walk that spans across 330 meters in total.
You will find plenty of lifestyle facilities teemed with the panoramic treetop walk that will surely keep you or your guests entertained round the clock. Some of these facilities include a fitness station, yoga deck, alfresco pavilion, star gazing garden, and a cabana bar.
Oh, did I mention that there is a tennis court on the rooftop of Tower 11A as well? I’ve got to say that this is probably the first in Singapore.
Besides the facilities at the rooftop of each residential block, residents of Daintree Residence will also have plenty of condo facilities to choose from on the 1st level.
The facilities are divided into the Valley and Rainforest wings.
The Valley wing will comprise of facilities that are more suited for those who just want to relax and get some “me” time. You will find spa beds, an infinity pool, sun lawn, and a verdant garden, etc.
On the other hand, the Rainforest wing is probably for the more active ones who want to get some workout done. It has a wide range of conventional condo facilities such as a 50-meter leisure pool, a gymnasium, an aqua gym, and steam rooms.
Daintree Residence Floor Plan and Unit Types
Daintree Residence has 327 residential units in total, across 11 blocks (5-storey tall each).
There is a variety of unit types, from 1-bedroom to 4-Bedroom to choose from and this new condo at Toh Tuck Road is expected to TOP by June 2022.
Here are the Daintree Residence floor plan for each unit type:
- 1-Bedroom (517 to 549 sq ft) / 1-Bedroom + Study (560 sq ft)
- 2-Bedroom (603 to 775 sq ft) / 2-Bedroom + Study (743 to 786 sq ft)
- 3-Bedroom (1,001 to 1,249 sq ft)
- 4-Bedroom (1,485 to 1,593 sq ft)
Daintree Residence Showflat Location
The Daintree Residence showflat is located at the actual site of the development – at 11A Toh Tuck Road, Singapore 596290.
According to the latest update, the opening hours are from 11 am to 7 pm daily. However, it may be subjected to changes.
Hence, do contact me via (+65) 6631-8384 for confirmation before heading down to the showflat in order to avoid making a wasted trip.
Daintree Residence Price Guide
The following table shows an overview of the Daintree Residence price indication for each unit type (as of 17 November 2019).
|Unit Type||Size||Starting Pricing||PSF Price|
|1-Bedroom||538 sq ft||$916,900||$1,704|
|2-Bedroom||667 sq ft||$1,085,530||$1,627|
|3-Bedroom||1055 sq ft||$1,676,210||$1,589|
|4-Bedroom||1485 sq ft||$2,480,680||$1,670|
However, please note that the price guide shown above is subjected to changes and further discounts (if any).
Thus, do drop me a message or give me a call at (+65) 6631-8384 for updates on the Daintree Residence price and unit availability.
Daintree Residence Review
From a neutral standpoint, there’s really a lot to like about Daintree Residence by simply looking at the specifications of the project.
Personally, I feel that the proposed architecture is brilliant and low-density living is just ideal for those who appreciate privacy and exclusivity – and it’s near an MRT station! So what’s there not to like about this development.
These are probably some of the biggest selling points of Daintree Residence – if not, the only ones.
If you are looking for a new launch condo project that is near an MRT station, honestly, you’ll be spoilt with all the choices available in the market today.
Even the closest competing projects in District 21, Mayfair Gardens and Mayfair Modern are close to an MRT station as well.
Thus, it is the architecture and low-density living that is really making Daintree Residence stand out among the rest of its ‘competitors’.
But what about the price?
The attractive and reasonable price point
Let’s have a quick price comparison with other projects in the western part of the Rest of Central Region (RCR) that have similar attributes in terms of proximity to MRT.
|PROJECT NAME||TENURE||No. of Units.||AVERAGE PSF ($)|
|Kent Ridge Hill Residence||99-Year||548||$1,720|
The above table shows a list of similar projects with their average per square foot (psf) price, based on all transactions concluded over the last 6 months.
If the price is the biggest concern for you, then you really have nothing to worry about because Daintree Residence is, in fact, being priced the lowest among the rest.
Some may argue that it is because Daintree Residence is further away from the city center. I totally agree with that, and that’s why the price point is being justified.
My only worry for this project
We all know that it is almost impossible to find that perfect property or home. There are bound to be some trade-offs.
From an investment point of view, I am not too sure about the potential growth or capital gain for Daintree Residence.
In short, there isn’t much happening in the area. No future redevelopment plans from the government, nothing. And we all know that’s usually the driving force for price gains.
In addition, looking at the rental rates achieved by The Creek at Bukit condo (which is just next door), it’s a worrying sight for an investor.
As you can see, the rental price per month for a 1-bedroom unit at The Creek at Bukit only ranges between $1,700 to $2,200 within the last 6 months.
Just do the math and you will know it’s not lucrative at all if you were to use it as a benchmark for your investment at Daintree Residence.
Is Daintree Residence overpriced? No. Then, is it a good buy?
Well, if you love a beautiful home or environment that offers you plenty of privacy at this price, frankly there aren’t many projects in the RCR that can rival Daintree Residence.
This is what living in a private residence is all about and should be. That’s why you are paying a premium to own private property. Hence, you should totally consider this project – solely based on these attributes.
However, if it’s just the convenience factor of having an MRT station nearby or you’re looking for a property that can grow your wealth exponentially in the long run, I guess you will be better off looking at something else.