Aurea at Golden Mile

Aurea at Golden Mile



Golden Mile · District 7

Aurea at Golden Mile黄金坊

188 sky-elevated homes crowning Singapore’s first conserved modernist landmark — steps from Nicoll Highway MRT, minutes from Marina Bay and the CBD.
Feb 2025
Sales Launched
Q2 2029
Expected TOP
99 Years
Leasehold Tenure
From S$1.76M
Indicative Price

188
Residential Units
99 Years
Leasehold Tenure
Q2 2029
Expected TOP
CC5
Nicoll Highway MRT
45
Storeys Residential Tower

Why Aurea at Golden Mile

Aurea — Latin for golden — is the residential crown of The Golden Mile, the once-in-a-generation restoration of Golden Mile Complex, Singapore’s first large-scale modernist building to be gazetted for conservation. Developed by GMC Property Pte Ltd (a joint venture between Perennial Holdings and Far East Organization), Aurea rises 45 storeys above the heritage-listed 1973 terraced podium, delivering 188 homes in Singapore’s prime city-fringe District 7.

What sets Aurea apart is not one feature but the layering of four rarely-combined advantages: a District 7 address on Beach Road, the cultural pedigree of a nationally conserved modernist icon, a 5-minute covered walk to Nicoll Highway MRT (CC5) and a sky-rise programme that concentrates all 188 homes on a single tower — giving every unit light, view and amenity on a scale the city-fringe rarely offers.

The development is designed by DP Architects with conservation specialist Studio Lapis, targets BCA Green Mark Platinum, and is scheduled for TOP in Q2 2029, with vacant possession by 31 March 2030.

Pillar 01

Heritage reborn

Aurea sits atop Singapore’s first large-scale conserved modernist building — the 1973 Golden Mile Complex by Design Partnership — now reimagined as The Golden Mile with retail, offices and medical suites.

Pillar 02

District 7 city-fringe

A 5-minute covered walk to Nicoll Highway MRT (CC5), 9 minutes to Lavender MRT (EWL), and short drives to Bugis Junction, Suntec City, Raffles City and Marina Bay Sands.

Pillar 03

Sky-rising design

All 188 units in a single 45-storey tower. Three themed sky-terrace decks at Levels 17 and 33 bring gym, lounge and dining above Singapore’s Central Area skyline.

Project At-a-Glance

Developer GMC Property Pte Ltd
JV — Perennial Holdings and Far East Organization
Address 802 Beach Road Singapore 199980
District 7 · Golden Mile / Beach Road
Tenure 99-year leasehold from 18 Nov 2024
Site Area 13,462.30 sqm (≈ 144,908 sqft)
Total GFA 75,388.88 sqm · Plot Ratio 5.6
Blocks and Storeys 1 residential tower · 45 storeys and 3 basements
Total Units 188 residential
Carpark 129 lots + 3 accessible · 4 EV · 48 bicycle
Expected TOP Q2 2029 (Residential)
Vacant Possession 31 March 2030
Architect DP Architects Pte Ltd
Conservation Specialist Studio Lapis Conservation
Landscape Architect DP Green Pte Ltd
Civil and Structural Engineer KCL Consultants Pte Ltd
Mechanical and Electrical Engineer Rankine & Hill (Singapore) Pte Ltd
Quantity Surveyor Rider Levett Bucknall Consultancy
Sustainability Target BCA Green Mark Platinum

Unit Mix and Sizes

Type Size (sqft) Units % of Total
2-Bedroom (B1 / B2 / B3) 635 – 710 84 44.7%
3-Bedroom (C1) 1,001 28 14.9%
4-Bedroom Signature (D1) 1,442 28 14.9%
4-Bedroom Premium Signature (D2) 1,798 28 14.9%
5-Bedroom Skyliving (E1 / E2) 2,863 – 3,251 18 9.6%
Penthouse (PH1 / PH2) 5,608 – 8,816 2 1.1%
Total 635 – 8,816 188 100%
Collections: Prestige Collection (Levels 4–32, 2- to 4-Bedroom, 168 units) · Signature Collection (Levels 34–42, 5-Bedroom Skyliving, 18 units) · Penthouse Collection (Levels 43–45, 2 units). Units with the H suffix sit on Levels 18–32 with higher ceilings.

Indicative Pricing

2-Bedroom from
S$1.76M
3-Bedroom from
S$2.89M
4-Bedroom Signature from
S$4.23M
4-Bedroom Premium from
S$5.48M
5-Bedroom Skyliving from
S$9.20M
Penthouse
POA
PSF benchmark: Prestige Collection mid-S$2,700 to mid-S$2,900 psf; Signature Collection S$3,100–S$3,250 psf at launch. Prices indicative only and subject to developer confirmation at booking — speak to LovelyHomes for the current live price list.

Why Buyers Are Watching

  1. 1A national conserved landmark — the only new-build residence physically integrated with Singapore’s first large-scale modernist conservation site. A design story that cannot be replicated elsewhere.
  2. 2District 7 address — a freshly-minted prime city-fringe postcode on Beach Road, within walking distance of Kampong Glam, Bugis and the Ophir–Rochor corridor.
  3. 3Nicoll Highway MRT at 5 minutes — covered walk to Circle Line, plus Lavender MRT (EWL) at 9 minutes and the entire CBD, Marina Bay and Orchard within a 10-minute commute.
  4. 4188 units, one tower — a sky-rise scale that concentrates all amenities, views and light across a single 45-storey form, not multiple low blocks sharing boundary space.
  5. 5Three sky-terrace decks — The Sky Club and Sky Gardens at Levels 17 and 33 deliver elevated gym, lounge, dining and wellness above the Central Area skyline.
  6. 6Prestige, Signature and Penthouse tiers — from compact 2-Bedroom Prestige homes to 8,816 sqft Penthouses, the unit mix spans one of the widest quantum ranges of any current launch.
  7. 7Mixed-use precinct on your doorstep — The Golden Mile retail, offices and medical suites next door, linked by an elevated Public Pedestrian Link on the 2nd storey.
  8. 8DP Architects × Studio Lapis — lead architect of Marina Bay Sands and Esplanade, with Singapore’s most active conservation specialist consultancy. A pedigree matched by very few city-fringe launches.

Location and Connectivity

Transport
Nicoll Highway MRT (CC5)
5-minute covered walk. Direct Circle Line to Marina Bay, Bayfront, Dhoby Ghaut and Paya Lebar. Lavender MRT (EWL) is 9 minutes on foot.
Lifestyle
Kampong Glam · Kallang Riverside
Heritage dining and boutiques at Kampong Glam on one side; Kallang Riverside Park, Sports Hub and Marina Reservoir on the other.
Retail
Bugis · Suntec · Marina
Bugis Junction, Raffles City, Suntec City and The Shoppes at Marina Bay Sands all within a 3–6 minute drive.
Work
Bugis · Beach Road · CBD
Bugis/Beach Road business cluster at 2 minutes; Shenton Way, Raffles Place and MBFC at 7 minutes; Orchard Road at 8 minutes.
Aurea at Golden Mile location overview map — Beach Road District 7

Schools Nearby

Pre-school and International HWA International School (MSQ) · Invictus International School (Centrium) · EtonHouse International (Orchard)
Primary Farrer Park Primary · Hong Wen School · St Margaret’s Primary · Kong Hwa School · Anglo-Chinese School (Junior)
Secondary Outram Secondary · Dunman High School · future Singapore Sports School (Kallang relocation)
Tertiary and Arts Singapore Management University (SMU) · LASALLE College of the Arts · Nanyang Academy of Fine Arts (NAFA) · School of the Arts (SOTA) · Kaplan City campuses
International Business Financial / business district — Bugis and Beach Road at 2 minutes’ drive; Shenton Way / Raffles Place / MBFC at 7 minutes

Lifestyle and Amenities

Heritage dining

Kampong Glam’s Arab Street, Haji Lane and Bussorah Street — plus Golden Mile Food Centre at 2 minutes’ walk and North Bridge Road Market at 6 minutes.

Waterfront and parks

Kallang Riverside Park and the Park Connector Network at 3 minutes’ walk. Gardens by the Bay and the Marina Bay waterfront at a short drive.

Icons on your doorstep

Esplanade – Theatres on the Bay, Sands Expo and Convention Centre, Singapore Indoor Stadium and the upcoming Future Indoor Arena — all within 9 minutes’ drive.

Retail belt

Bugis Junction, Raffles City, Suntec City, Marina Square and Shaw Towers — a complete retail and F&B belt within a 3–5 minute drive.

Sky-rise wellness

The Sky Club (Level 17) and Sky Gardens (Level 33) house the gym, yoga pavilion, function rooms and dining pavilions — with panoramic views over Marina Bay and the city.

Medical and education

Raffles Hospital at 2 minutes’ drive and Farrer Park Hospital at 4 minutes. SMU, LASALLE, NAFA and SOTA within the same short-drive radius.

Site Plan

Aurea at Golden Mile site plan — 1st storey

Site plan · 1st storey · indicative only · subject to developer confirmation

Floor Plans (Selected)

Aurea Type B1 2-Bedroom floor plan — 635 sqft

Type B1 · 2-Bedroom · 635 sqft
Aurea Type C1 3-Bedroom floor plan — 1,001 sqft

Type C1 · 3-Bedroom · 1,001 sqft
Aurea Type D1 4-Bedroom Signature floor plan — 1,442 sqft

Type D1 · 4-Bedroom Signature · 1,442 sqft
Aurea Type D2 4-Bedroom Premium Signature floor plan — 1,798 sqft

Type D2 · 4-Bedroom Premium Signature · 1,798 sqft

Source note: The available Aurea floor-plan source begins at 2-bedroom Prestige layouts; no 1-bedroom plan is included in the local source set, so selected thumbnails show 2-bedroom, 3-bedroom and 4-bedroom Signature/Premium layouts.

Full Floor Plans PDF
All stack-by-stack floor plans across Prestige, Signature and Penthouse collections.

Download PDF

Elevation and Stack Chart

Aurea at Golden Mile elevation and unit distribution chart

Elevation chart · Prestige (L4–32) · Signature Skyliving (L34–42) · Penthouse (L43–45)

Facilities (30+)

Arrival ForecourtGrand LobbyGuardhouse50m Lap PoolSpa PoolKid’s PoolPool DeckPoolside PavilionsSky Club (L17)Sky GymSky LoungeSky Function RoomYoga PavilionSteam RoomSky Garden (L33)Dining PavilionBBQ PavilionTea GardenReading CornerFitness CornerChildren’s PlaygroundWellness DeckCommunity LawnElevated Pedestrian Link to The Golden MileEV Charging (4 lots)Bicycle Parking (48 lots)

Gallery

Developer and Consultant Team

GMC Property Pte Ltd — a Perennial Holdings and Far East Organization joint venture

GMC Property Pte Ltd (Developer’s Licence C1497) is the special-purpose vehicle behind Aurea and the wider Golden Mile rejuvenation. It is a joint venture between Perennial Holdings Pte Ltd — one of Asia’s most active mixed-use and healthcare real-estate platforms — and Far East Organization, Singapore’s largest private property developer. The JV acquired the iconic Golden Mile Complex through a collective sale and is leading its conservation-first redevelopment into The Golden Mile with retail, offices, medical suites and Aurea residences.

Architect DP Architects Pte Ltd
Conservation Specialist Studio Lapis Conservation Pte Ltd
Landscape Architect DP Green Pte Ltd
Civil and Structural Engineer KCL Consultants Pte Ltd
Mechanical and Electrical Engineer Rankine & Hill (Singapore) Pte Ltd
Quantity Surveyor Rider Levett Bucknall Consultancy Pte Ltd
Acoustic Consultant Arup Singapore Pte Ltd
ESD (Sustainability) Consultant DP Sustainable Design Pte Ltd
Facade Consultant Building Facade Group
Conveyance Solicitor Allen & Gledhill LLP

Sustainability and Specifications

Aurea is designed to Singapore’s highest tier of environmental certification and integrates adaptive-reuse of a nationally conserved 1973 modernist landmark — one of the country’s most sustainable design propositions.

  • BCA Green Mark Platinum targeted — the top tier of Singapore’s residential green-building scheme
  • Heritage conservation — the 1973 Golden Mile Complex facade, terraced podium and structural language are retained under URA guidance
  • Low-emissivity glass curtain-wall and window systems for thermal performance
  • Precast and prefabricated construction with prefabricated bathroom units where applicable — faster, lower waste
  • EV-ready — 4 EV charging lots for the residential tower
  • Micro-mobility — 48 bicycle lots and end-of-trip provisions to support a car-lite city-fringe lifestyle
  • Acoustic and facade engineering — Arup and Building Facade Group engaged to manage noise ingress from Beach Road and Nicoll Highway

Project Timeline

18 Nov 2024
99-year lease commencement
Feb 2025
Sales launch
2026 – 2028
Ongoing sales phases
Q2 2029
Expected TOP
31 Mar 2030
Expected vacant possession

Project Factsheet

A shareable 2-page PDF snapshot of everything on this page — bring it to viewings, forward it to family.

Download the Full Sales Pack

PDF · 2 pages

Aurea Factsheet

2-page LovelyHomes project factsheet — share with family, bring to viewings.

Download Factsheet

PDF · floor plans

Full Floor Plans

Floor plans across Prestige, Signature and Penthouse collections with dimensions.

Download Floor Plans

PDF · precinct map

Golden Mile Transformation

High-resolution precinct map — MRT links, The Golden Mile integration and nearby amenities.

Download Map

Frequently Asked Questions

Where is Aurea at Golden Mile located?
Aurea is located at 802 Beach Road in Singapore’s prime District 7, sitting atop the conserved Golden Mile Complex. It is a 5-minute covered walk to Nicoll Highway MRT (CC5, Circle Line) and 9 minutes to Lavender MRT (EWL), with Marina Bay, Orchard and the CBD all within a 10-minute ride.
Who is the developer?
The developer is GMC Property Pte Ltd — a joint venture between Perennial Holdings and Far East Organization. Perennial is one of Asia’s most active mixed-use and healthcare real-estate platforms, and Far East Organization is Singapore’s largest private property developer. Developer’s Licence No. C1497.
When is Aurea expected to be completed?
The expected Temporary Occupation Permit (TOP) date is Q2 2029 for the residential tower. Expected vacant possession is 31 March 2030, and expected legal completion is 31 March 2033. The 99-year leasehold commenced on 18 November 2024, so buyers get a near-full fresh lease at completion.
What unit types are available?
Aurea offers 188 residential units across three collections: Prestige Collection (Levels 4–32) with 2-Bedroom (635–710 sqft), 3-Bedroom (1,001 sqft), 4-Bedroom Signature (1,442 sqft) and 4-Bedroom Premium Signature (1,798 sqft); Signature Collection (Levels 34–42) with 5-Bedroom Skyliving (2,863 or 3,251 sqft); and the Penthouse Collection (Levels 43–45) with two penthouses at 5,608 and 8,816 sqft.
What are indicative prices at Aurea?
Indicative starting prices at launch were from S$1.76M for a 2-Bedroom, S$2.89M for a 3-Bedroom, S$4.23M for a 4-Bedroom Signature, S$5.48M for a 4-Bedroom Premium Signature and S$9.20M for a 5-Bedroom Skyliving. PSF benchmarks range from the mid-S$2,700s for the Prestige Collection to S$3,100–S$3,250 psf for the Signature Collection. Penthouses are price-on-application. All figures are indicative and subject to developer confirmation at booking.
How close is Nicoll Highway MRT?
Nicoll Highway MRT (CC5, Circle Line) is approximately 0.4 km away — a 5-minute covered walk from the residential tower via an elevated Public Pedestrian Link at the 2nd storey that connects Aurea to The Golden Mile. Lavender MRT (EWL) is approximately 0.8 km (a 9-minute walk).
Is Aurea freehold or leasehold?
Aurea is a 99-year leasehold development. The lease commenced on 18 November 2024, so a buyer in 2026 effectively takes on a fresh near-full lease.
What is the link-bridge to Golden Mile Complex?
An elevated Public Pedestrian Link (EPL) at the 2nd storey connects Aurea to The Golden Mile. The EPL is required by the authorities to remain publicly accessible 24 hours a day and gives residents direct sheltered access to the retail, office and medical suites in the conserved podium.
What makes Aurea different from other city-fringe launches?
Aurea combines four rarely co-located advantages: a District 7 Beach Road address, physical integration with Singapore’s first large-scale modernist conservation site, a 5-minute covered walk to Nicoll Highway MRT, and a single 45-storey tower concentrating amenities and sky-terraces. It also targets BCA Green Mark Platinum — the top tier of Singapore’s residential green-building scheme.
Where is the sales gallery?
The developer’s sales gallery is at 10A Central Lane 1, Singapore 019927. To arrange a private viewing, receive the full developer e-brochure, or request the latest live price list, message LovelyHomes on WhatsApp at +65 8222 2556.

Ready to see Aurea at Golden Mile in person?

Speak to our LovelyHomes concierge on WhatsApp for the latest unit availability, e-brochures and showflat bookings. We’ll connect you with the developer’s in-house team, not an agency.

Message on WhatsApp

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Disclaimer. Prices, unit mix, specifications, site plans, floor plans and facility lists on this page are indicative only and subject to change by the developer without notice. All information has been compiled from developer sales material (brochures, project factsheet dated 5 February 2025 and sales kits) and verified as at 19 April 2026. LovelyHomes.com.sg is not the project developer. Prospective buyers should consult an accredited salesperson and the developer’s official sales kit before committing to any purchase. Artist impressions are for illustrative purposes only and may differ from the final built product.


Property Showdown: Aurea vs Chuan Park

Property Showdown: Aurea vs Chuan Park

[This post was first published on Little Big Red Dot on 4th March 2025]

Editor’s update (April 2026): For a full breakdown of Aurea at Golden Mile — unit mix, pricing, sky terraces, TOP Q2 2029 timeline, connectivity and the complete project factsheet — read our comprehensive Aurea at Golden Mile project guide.

This is a new segment which we will be featuring on Little Big Red Dot. As property is always a hot topic, we thought “why not start a property showdown type blogpost?” I have been blogging about property and investing for quite a good number of years. If you would like to read my blog about investing, you can access it at daryllum.com.

Now back to the very first Property Showdown blog article on Little Big Red Dot. We are going to compare two very recent launches. Aurea at Beach Road by Far East Organization and Perennial Holdings and Chuan Park by Kingsford Development and MCC Singapore.

Property Showdown: Aurea vs Chuan Park

Property Showdown: Aurea vs Chuan Park

 

We will be breaking down this showdown into 7 categories. They are:

  1. Distance to the nearest MRT Station
  2. Number of MRT stops to the city centre (Raffles Place MRT Station)
  3. Distance to the nearest hawker centre
  4. Distance to the nearest shopping mall
  5. Primary schools within a 1 kilometre radius
  6. Price per square foot
  7. Premium over the resale units in the vicinity

 

Category 1: Distance to the nearest MRT Station

Let us look at Aurea for a start. The nearest MRT station in this case would be Nicoll Highway MRT Station. This is a station on the circle line.

The walk from Aurea to Nicoll Highway MRT Station

The walk from Aurea to Nicoll Highway MRT Station

The distance from Aurea to Nicoll Highway MRT Station is 700 meters. According to Google Maps, the walk will take 9 minutes. In this case, there is a portion of the walk that is unsheltered. I am assuming that you would be able to link from Aurea to Golden Mile Complex and subsequently Golden Mile Tower, as it was before. Then the last leg of the journey, about a third of the 700 meters, would be unsheltered.

Chuan Park’s distance to its nearest MRT station, Lorong Chuan MRT Station, is a lot shorter. The development is located literally next to the MRT station. Lorong Chuan MRT Station is similarly located along the Circle Line. It would take just a minute to walk the 64 meters to Lorong Chuan MRT Station from Chuan Park.

The walk from Chuan Park to Lorong Chuan MRT Station

The walk from Chuan Park to Lorong Chuan MRT Station

The winner for category 1: Chuan Park!

 

Category 2: Number of MRT stops to the city centre (Raffles Place MRT Station)

This is not even a close fight. From Nicoll Highway MRT Station to Raffles Place MRT Station is just 4 mere stations. You will need to make a change from the Circle Line to the North South Line at Marina Bay. The total journey would take about 8 minutes and cost $1.29.

Nicoll Highway MRT to Raffles Place MRT

Nicoll Highway MRT to Raffles Place MRT

Lorong Chuan MRT Station is also on the Circle Line. However, the MyTransport App has got me making two transfers. One at Serangoon MRT Station to the North East Line and again at Dhoby Ghaut to the North South Line. This journey encompasses 9 stations and will take 17 minutes. It will also cost $1.77 which is more.

The winner for category 2: Aurea!

 

Category 3: Distance to the nearest hawker centre

If you live in Aurea and are feeling hungry, you could actually just walk to The Golden Mile. That is the refurbished Golden Mile Complex. I would expect there to be food options. However, it is important to have a hawker centre close by. Firstly, that is where most Singaporeans get their food from. Secondly, it is the more cost effective option. But most importantly, the food at hawker centres are just really good!

If you are familiar with the old Golden Mile Centre, Golden Mile Food Centre is located just across the road.

Location of Aurea

Location of Aurea

Since Aurea is located right next to the old Golden Mile Complex or the upcoming The Golden Mile, Golden Mile Food Centre is similarly just across the road. It would take you a mere 4 minutes to walk the 280 meters to get your meal at Golden Mile Food Centre.

Walk from Aurea to Golden Mile Food Centre

Walk from Aurea to Golden Mile Food Centre

Chuan Park is surrounded by other condominiums. There is no food centre that is close by. Well not close like how Aurea is to Golden Mile Food Centre. Perhaps you can get some food at the New Tech Park across the road?

Location of Chuan Park

Location of Chuan Park

The nearest hawker centre is the one at Serangoon Gardens. That is 2 kilometres away and it will take you 28 minutes to get there. There is almost no shelter along the journey. You could also drive there. Getting a parking lot during peak hours is challenging though. There is of course no option to take an MRT to this area.

The walk from Chuan Park to Serangoon Garden Market

The walk from Chuan Park to Serangoon Garden Market

If you are looking for a wet market, there is one at Serangoon Central. It is located at Block 267 Serangoon Avenue 3. Once again, it is not near. It is 1.7 kilometres away and it will take you 24 minutes to walk the relatively unsheltered route. Of course you could hop on the MRT and take a station down to get to Serangoon MRT Station. That still does not bring you exactly to the wet market. You still have to take a short walk.

The walk from Chuan Park to Serangoon Central Market

The walk from Chuan Park to Serangoon Central Market

The winner for category 3: Aurea!

 

Category 4: Distance to the nearest shopping mall

Aurea is located right next to The Golden Mile. I would think that there should be a link from Aurea to The Golden Mile. This is an artist’s impression of how The Golden Mile retail would look like.

The Golden Mile Retail

The Golden Mile Retail

The nearest shopping mall from Chuan Park would be Nex. Nex is located 1.3 kilometres away and it would take you 18 minutes to walk there. You could take the MRT down to Serangoon MRT Station to get to Nex.

The walk from Chuan Park to Nex

The walk from Chuan Park to Nex

Yes taking one MRT station down avails you to Nex which is larger than The Golden Mile. However, the residents at Aurea could similarly take one MRT station down to get to Suntec City, Millenia Walk and Marina Square. There is definitely more retail and dining options there as compared to what is offered at Nex.

The winner for category 4: Aurea!

 

Category 5: Primary schools within a 1 kilometre radius

This is the kiasu category. I am only going to measure primary school distances because that is sometimes the reason why Singaporeans purchase properties in a certain area. I am not listing Secondary School and tertiary options. My source of reference if elite.com.sg. So shout out to them for creating this online resource tool.

I could not input Aurea’s postal code as it turned in an error. Hence I used the postal code of the building next door. Whatever the case, there is clearly no primary school within the 1 kilometre radius of Aurea.

Schools within 1 kilometre to Aurea

Schools within 1 kilometre to Aurea

In contrast, there are three schools within a 1 kilometre radius of Chuan Park. The closest is St Gabriel’s Primary School at 0.428 kilometres, which is an all boys’ school. Both CHIJ Our Lady of Good Counsel and Yangzheng Primary School are both at 0.590 kilometres. CHIJ Our Lady of Good Counsel is an all girl’s school.

Schools within 1 kilometre to Chuan Park

Schools within 1 kilometre to Chuan Park

The winner for category 5: Chuan Park!

 

Category 6: Price per square foot

At the point of writing, Aurea’s pricing has yet to be released. Indicative launch prices start from SGD$2,750 per square foot (psf). That should be for the less desirable units. Namely those on lower levels. I would believe that prices would be closer to just under SGD$3,000 psf.

Chuan Park was sold at an average price of SGD$2,579 psf. That works out to approximately 20% less than prices at Aurea. When it comes to affordability, sometimes that small difference makes a lot.

The winner for category 6: Chuan Park!

 

Category 7: Premium over resale units in the vicinity

A large proportion of buyers will eventually sell their properties. This despite them saying that they are not speculators and are in the market for the long run. When a property is sold, it competes not only with units in the same development but with units in neighbouring developments. The location attributes of a development are essentially very similar to those of neighbouring developments due to the fact that they are all in the same location. Hence it is very important to understand the market that is in the area. A new project launch will definitely cost more than those in the resale market. Especially as those in the resale market are longer down the road in their 99-year lease decay.

I will just choose one development. The closest development to the developments in question. Let us first look at what developments Aurea will be up against in the vicinity. The nearest developments are City Gate and Concourse Skyline. City Gate is nearer hence we will use that as the point of comparison.

The average psf at City Gate is SGD$2,082. Assuming Aurea has an average psf of SGD$2,850, this works out to a premium of 36.9%.

Prices of City Gate from Feb 24 to Feb 25

Prices of City Gate from Feb 24 to Feb 25

The appropriate development to compare Chuan Park to would be The Springbloom. It is across the road and has Lorong Chuan MRT Station next to it as well. Goldenhill Park Condominium is a freehold development whereas Chuan Park and The Springbloom are 99-year leasehold developments. In this aspect, there is no lease decay for Goldenhill Park Condominium. It would be more appropriate for us to consider The Springbloom. The premium exists because the new development has a fresher 99-year lease.

Prices of The Springbloom from Feb 24 to Feb 25

Prices of The Springbloom from Feb 24 to Feb 25

The average psf for The Springbloom is SGD$1569. Therefore, Chuan Park is a whopping 64% premium over The Springbloom.

Just for general knowledge, not for comparison’s sake, here are the prices of Goldenhill Park Condominium.

Prices of Goldenhill Park Condominium from Feb 24 to Feb 25

Prices of Goldenhill Park Condominium from Feb 24 to Feb 25

The winner for category 7: Aurea!

 

The final score:

Aurea 4 vs Chuan Park 3!

Congratulations Aurea!

Aurea is the winner of our first ever Property Showdown!

Aurea is the winner of our first ever Property Showdown!

 

Yours sincerely,

Daryl

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