The Kallang precinct is probably one of the most overlooked areas by property buyers over the last decade. It has come to a point where no one even bothered what’s coming up next and what are the Government plans earmarked for the area.
It was only till June 2014 when Kallang Riverside condo was launched, the Singapore property market started to pay more attention to this under-developed region.
Furthermore, when the government announced its redevelopment plans for Kallang under the URA Master Plan, it got the market even more excited about what’s upcoming.
Let us look at some of the features that this condominium is set to offer, and we’ll also analyze deep into the facts, numbers and most importantly – the Kallang Riverside Master Plan set by URA.
Kallang Riverside Condo Overview
Kallang Riverside condominium, consisting of only 212 residential units together with a wide range of commercial elements, is set to be a part of the 64-ha lifestyle community, which is set to offer approximately 4,000 new residential homes, hotel and also a total of estimated 400,000 sqm of office space, retail, F&B and entertainment facilities.
It’s not just an ordinary residential enclave. There will green added around the vicinity to promote lifestyle living with a 7-hectare park (which is a site for water sports), constructed on both sides of the renowned Kallang River.
Kallang Riverside Location
Located at 51 Kampong Bugis, Singapore 338986 (the current Singapore Johore Factories Building), the setting for Kallang Riverside condo couldn’t be more perfect – situated just next to the existing Kallang Riverside Park and being fronted by the Kallang River waterfront.
It will be certainly be an exciting addition to the vibrant Southern Waterfront of Singapore due to its excellence in location and offering a lifestyle that many would desire.
If you were to look at the current offerings in the property market, it’s definitely one of the very rare few condominiums in Singapore which can offer residents a 360-degree view of the enchanting Kallang Riverside Park and tranquility of the waterfront.
Its strategic position in the city-fringe is one of the highlights as well – being well-connected via the Kallang-Paya Lebar Expressway (KPE), the Marina Coastal Expressway (MCE) and Nicoll Highway. Thus, It is just a mere 5-7 minutes’ drive to the Central Business District (CBD) and the Marina Bay Financial District.
Kallang Riverside Condo Facilities and Living
Despite being classfied as an apartment building (specified by URA), Kallang Riverside condo is not going to short-change the residents.
The main draw would, in fact, be its close proximity to Kallang Riverside Park, where residents will get the enjoy the beachfront style living and also water sports activities.
Otherwise, within the development itself, other facilities are also provided for exercising, with fitness equipment and jogging & cycling tracks for the fitness and health enthusiast. which offers a breathtaking route along the beach which leads all the way to Gardens by the Bay and also the upcoming Singapore Sports Hub.
Kallang Riverside Floor Plan and Unit Types
The Kallang Riverside consists of unit types – ranging from a 1-bedroom to a 3-bedroom Dual-Key. If you’ve been looking at new launch condo projects these days, unit sizes at Kallang Riverside are definitely more spacious and suited for traditional/conventional living.
Looking at the unit orientation within the new launch development, there will be a total of only 9 stacks – and only the 2-bedroom units will be fronted by the Kallang River (and probably a little bit of the southern sea as well). On the other side, residents will also get to enjoy a panoramic view of the park and city skylines.
Here is the general list of Kallang Riverside floor plan for each unit type:
- 1-Bedroom ranging from 517 to 829 sq ft
- 2-Bedroom ranging from 958 to 1,087 sq ft
- 2-Bedroom + Study at 1,033 sq ft
- 3-Bedroom at 1,141 sq ft
- 3-Bedroom Dual-Key ranging from 1,432 to 1,572 sq ft
- 3-Bedroom + Study + Family Duplex at 1,916/1,970 sq ft (only 4 units available)
On top of the above unit types, you will also find a couple of premium ones as follow:
- 3-Bedroom + Study Penthouse at 2,508 sq ft (only 1 unit available)
- 4-Bedroom + A/V Room Penthouse at 3,154 sq ft (only 1 unit available)
- 4-Bedroom + Study + A/V Room Penthouse at 3,498 sq ft (only 1 unit available)
Kallang Riverside Showflat
The Kallang Riverside showflat is located at the actual construction site of the development, however, it’s only opened for viewing via appointment basis. It would be better if you can contact us at(+65) 6631-8384 for enquires and check on unit availability before heading down.
At the Kallang Riverside showflat, you will have a better idea on what we meant earlier by it’s spacious unit layouts and efficient use of living spaces. And also, the quality fittings and finishings that will be provided for buyers at Kallang Riverside.
Kallang Riverside Master Plan
According to the Kallang Riverside Master Plan by URA, the area will be set to become the next most sought-after lifestyle precinct situated just at the fringe of the city center of Singapore – adding to the Greater Marina Bay District.
As mentioned earlier, it will comprise residential and commercial elements in the precinct. Just having the thought of having a river view from the window at your office, having absolute convenience of lifestyle enjoyments (such as retail, F&B) at its doorstep and a home with some of the most prominent skylines in Singapore forming a backdrop to your home living area – it’s simply perfect.
The main focus in the area is to reduce the usage of cars and the prevention of floods. For a resident in Kallang Riverside or any future developments, it would mean that driving will be less in favor of other commuting options.
Such initiatives will encourage residents to use train services – nearest being Kallang & Lavender MRT Station, and also other public bus services available. Something new will the “water taxis” in future – plying between the Central Business District areas like Raffles Place and Clarke Quay.
The Kampong Bugis precinct will also be set up to pilot for a water management project as it’s located at the merging point of the Kallang River and Rochor Canel – 2 major waterways in Singapore, designed to prevent floods from occurring.
Also, the residential buildings in Kampong Bugis will be “fence-less”, in order to encourage interaction within the community and bringing residents in the area closer to nature.
For more information on Kallang Riverside URA plans, you can access it here.
Kallang Riverside Price Guide
The Kallang Riverside price information is shown in the following table – which records 10 of the most recent transactions – averaging at S$2,111 per square foot (psf).
|CONTRACT DATE||ADDRESS||SIZEZ (SQ FT)||PSF PRICE (S$)||PRICE (S$)|
|10-Nov-16||51 KAMPONG BUGIS #14-06||517||2,271||1,173,163|
|20-Jun-16||51 KAMPONG BUGIS #28-06||517||2,622||1,354,539|
|9-Nov-15||51 KAMPONG BUGIS #17-07||1,432||1,995||2,856,593|
|8-Nov-15||51 KAMPONG BUGIS #06-06||958||2,027||1,941,428|
|26-Oct-15||51 KAMPONG BUGIS #03-03||657||1,946||1,277,595|
|1-Sep-15||51 KAMPONG BUGIS #07-08||958||2,068||1,980,710|
|7-Jun-15||51 KAMPONG BUGIS #13-04||517||2,197||1,135,000|
|19-May-15||51 KAMPONG BUGIS #06-07||1,001||1,914||1,916,000|
|23-Jan-15||51 KAMPONG BUGIS #08-08||958||2,079||1,991,452|
|23-Jan-15||51 KAMPONG BUGIS #16-07||1,432||1,988||2,846,363|
According to statistics, a total of 56.1% of the 212 units have been sold at Kallang Riverside as of November 2016.
Kallang Riverside Review
Being only the 2nd private residential project in Kallang (or near Kallang River), this development does seem like a worthy buy as there isn’t much competition from neighboring projects which can offer the possible lifestyle experience at Kallang Riverside.
In fact, when neighboring freehold apartment Riverine by the Park was launched by WingTai back in 2007, this 96-unit development was being snapped up at lightning speed within 4 months – even at an average psf of S$1,500 at that point of time.
The pricing was considerably high during then (which was the market’s peak), and some owners accumulated losses as much as S$280,000 with the first 3 years of ownership. Those were probably the “flippers”. However, we did see some owners making profits as much as S$411,600 by selling their units during the last peak in 2013.
So that’s history. Fast forward to 2014, pricing has gone rather absurd with Kallang Riverside launching at an average of $2,000 psf. The lowest priced psf recorded was S$1,886 – for a 2-bedroom unit (1087 sf) on the 9th storey.
One of the key selling points for Kallang Riverside was its freehold status, being the first development next to the Riverside Park and the waterfront living.
The question – do these points justify the price tag? Frankly, you can possibly find a condo unit in areas like Newton/Novena (prime districts in Singapore) as a much lower price.
But just to be fair to Kallang Riverside, we will analyze this development from 2 angles.
Price Comparison with nearby developments
As mentioned earlier, there isn’t much condo or apartments in the precinct. In fact other than Kallang Riverside, there are only 3 projects around. Here’s how they line up in terms of average psf price (from June – December 2016):
|PROJECT NAME||TENURE||COMPLETION||NO. OF UNITS||AVERAGE PSF (S$)||UNITS SOLD|
|THE RIVERINE BY THE PARK||FREEHOLD||2010||96||1,450||2|
|CITYLIGHTS||99 YRS FROM 2004||2007||600||1,469||9|
|SOUTHBANK||99 YRS FROM 2006||2010||197||1,538||4|
Just by looking on a high-level, units at Kallang Riverside are sold at more than 50% higher than the combined average of the 3 other neighboring developments. That’s seriously steep!
Even if we compared it with fellow freehold project Riverine by the Park, the price tag of Kallang Riverside still looks kind of ridiculous in my opinion.