Balestier area has always been a combination of the past, the present, and the future. Not only will you find rich history, it’s also known for an area where you will find delicious delicacies along the stretch.
Neem Tree (former Kemaman View) will be the latest freehold new launch project to add on to the current collection of private properties in District 12, Balestier area.
If you have been a long-time admirer of the Balestier precinct, you would probably know that this is one of the areas in Singapore to house the biggest amount of freehold properties.
And as a matter of fact, there hasn’t been many launches in the precinct for the last couple of years, other than some of the recently completed projects such as VA Residences, Ascent 456, VIIO at Balestier and City Suites.
Thus, Neem Tree at Balestier presents a rare opportunity for property buyers to lay their hands on a freehold asset in this land-scarce nation. Let’s take a look at what this development has to offer.
Neem Tree Developer
The developer, is usually one of the first things we look at before even considering if this property is worth it, as it will more often or not determine the quality of the project – such as the floor & wall finishes and layout etc.
Neem Tree’s developer is Aylesbury Pte Ltd. Honestly, they may not be one of the biggest property developers in town, but they are definitely no rookie in the real estate business.
This is, in fact, Aylesbury Pte Ltd’s maiden residential project in Singapore after successfully completed various industrial properties (such as E9 Premium at Woodlands Industrial area) and numerous boutique hotel projects in Singapore.
Neem Tree Location
Despite plenty of mixed opinions of the Balestier precinct, one can never deny its excellent city-fringe location in Singapore.
Neem Tree is located at 30 Jalan Kemaman, Singapore 329341 – just at the brim of the Balestier main road, just slightly off Thomson Road on one end and the Novena precinct on the other. In simple terms, Balestier is practically just situated next to one of the prime districts in Singapore (Newton/Novena).
For future residents of Neem Tree, the lifestyle along Balestier Road is, in fact, more diverse as compared to other districts in Singapore – with plenty of shops, food eateries, boutique hotels, religious temples, industrial properties, hospitals and residential apartments. “Busy and colourful” – this is what most market watchers would describe Balestier Road as.
Since 2000 or even earlier, Balestier’s glamour has been well-blended between the old and the new – from the development of new commercial properties such as Zhongshan Mall and Shaw Plaza, to the gazetting of multiple buildings under conservation that include shophouses with heritage value (some built since 1840s) and of course, the Sun Yat Sen’s villa.
In terms of convenience, dwellers at Neem Tree are just a short walk to Shaw Plaza, where they will find one of the largest Fairprice supermarket and Shaw cineplex.
On top of that, you are just a short drive away to Orchard Road is just less than 10 minutes. Otherwise, Novena MRT Station is just a mere 8 to 10-minute bus ride away.
Neem Tree Floor Plan and Unit Types
Neem Tree will be a high-rise development, consisting of only 84 units in total – with only 6 units per level. The following are the Neem Tree floor plan and units types available:
- 1-Bedroom (419 to 452-sqft)
- 1-Bedroom + Study (506-sqft)
- 2-Bedroom (624-sqft)
- 2-Bedroom + Study (710-sqft)
- 3-Bedroom (818-sqft)
- 2-Bedroom Dual-Key Penthouse (947-sqft)
- 3-Bedroom Penthouse (1,335-sqft)
- 3-Bedroom Dual-Key Penthouse (1,163-sqft)
As you can see, Neem Tree does offer a good selection of choice units types and the floor plan does showcase the efficient use of the space given.
Neem Tree Price Guide and Transactions
As of 08 February 2019, Neem Treehase sold 68 units based on caveats lodged by the Urban Redevelopment Authority (URA) at an average psf price of S$1,670. The following table reflects the last 10 transactions at Neem Tree.
|CONTRACT DATE||ADDRESS||SIZE (SQ FT)||PSF ($)||TOTAL ($)|
|5-Oct-18||30 JALAN KEMAMAN #13-06||506||1,847||934,458|
|25-Sep-18||30 JALAN KEMAMAN #12-06||506||1,830||925,560|
|18-Sep-18||30 JALAN KEMAMAN #11-01||710||1,832||1,301,300|
|11-Jun-18||30 JALAN KEMAMAN #14-06||506||2,119||1,072,002|
|30-Apr-18||30 JALAN KEMAMAN #10-04||624||1,780||1,111,300|
|7-Mar-18||30 JALAN KEMAMAN #10-01||710||1,680||1,193,600|
|5-Mar-18||30 JALAN KEMAMAN #15-02||818||1,711||1,399,800|
|26-Feb-18||30 JALAN KEMAMAN #14-04||624||1,921||1,199,000|
|23-Feb-18||30 JALAN KEMAMAN #08-03||452||1,856||838,900|
|12-Feb-18||30 JALAN KEMAMAN #12-03||452||1,917||866,600|
Here’s the latest indication of the Neem Tree price guide. For further confirmation, please do drop us a note or give us a call at (+65) 6631-8384 for clarification and updates.
- 1-Bedroom from $831,000
- 2-Bedroom from $1.213 million
- 3-Bedroom from $1.362 million
- 2-Bedroom Penthouse – $1.627 million
- 3-Bedroom Penthouse from $1.954 million
Neem Tree Showflat
The Neem Tree showflat was previously located at the actual site of the new launch project. As of 22 January 2019, Neem Tree has already been completed and actual units are ready for viewing purposes.
If you are interested to view Neem Tree, drop us a note with the form below or contact us directly at (+65) 6631-8384. We will help make viewing arrangements with the developer.
Neem Tree Condo Review
Since 2011, the property prices in District 12 have been on the rising trend and remained resilient despite market uncertainties during the 2013 – 2016 period. Median psf prices have risen from $1,176 to $1,345 – which is a 14% increase over the last 8 years. Not too bad, isn’t it?
The Balestier area actually takes up the most number of properties in the district. To date, you probably won’t find any new developments for sale other than Neem Tree. Most of them have already been fully sold. It certainly reflects the demand for housing in Balestier.
As an investment, the numbers are looking pretty stable as well in the area. Here are some of the newer developments or condos in Balestier and their median rental based on transactions which took place over the last 6 months.
|PROJECT NAME||TENURE||COMPLETION||GROSS YIELD (%)||NO. OF RENTALS|
|ASCENT @ 456||FREEHOLD||2017||3.6||3|
|THE MARQUE @ IRRAWADDY||FREEHOLD||2009||3||9|
|ONE DUSUN RESIDENCES||FREEHOLD||2016||3||43|
And did I mentioned that there’s no MRT in Balestier? You can see why investors will be focusing closely on Neem Tree next. The fact is that with a huge number of private residential homes being completed and entering the rental market, properties in Balestier are still able to generate an average rental yield of 3%.
Being a home-grown Balestier kid myself, I simply appreciate the location. Driving to Orchard is just mere 5 minutes and it’s an area where you will find all the amenities – food, supermarket, movie theatre, medical facilities, furniture, sports & recreational activities..all you can name!
If you have lived here as long as I did, you will realize that often there will be expatriates walking their dogs or jogging around the area. It’s a sight that you will rarely find in other suburban districts.
When we shared about tenure with some property buyers, freehold properties has always been their preferred choice. And that’s all Balestier have – plenty of freehold properties!
So is Neem Tree’s pricing a fair one at this point in time? Let’s look at how Neem Tree‘s pricing line up against these neighbouring apartments and condos in Balestier.
|PROJECT NAME||TENURE||COMPLETION||AVERAGE PSF ($)||TOTAL NO. OF UNITS SOLD|
|ONE DUSUN RESIDENCES||FREEHOLD||2016||1,569||1|
|ASCENT @ 456||FREEHOLD||2017||1,314||1|
|THE MARQUE @ IRRAWADDY||FREEHOLD||2009||1,286||1|
As you can see, being a 8-year old resale unit, Prestige Heights has already achieved the highest record PSF of $1,725. If you can get anything lower for Neem Tree, is it a good deal?
Furthermore, just down the road, Kemaman Point has already been sold to Soilbuild Group via collective sale back in June 2018. Based on the acquisition price, the future new launch at Balestier may need to sell at a PSF price close to $2,000 in order to make any business sense for the developer.
For more details of this development, do drop me a note or give me a call. I will be more than willing to share with you.