The Continuum Condo
New launch condominiums in Singapore are increasingly becoming a popular choice among home buyers for their modern design, prime location, and attractive financing options. These properties offer a unique opportunity for individuals to own a brand new home in sought-after neighbourhoods, providing easy access to transportation, shopping, dining, and other amenities.
Nestled in the prime District 15 in the East, The Continuum is located along Thiam Siew Avenue, engulfed by Tanjong Katong Road and Haig Road. It is a new freehold residential development that spans 269,995 sqft of land. The residence offers 816 condominium units with 1 to 5-bedroom layouts and a wide array of indoor and outdoor amenities.
Additionally, new launch condominiums often come equipped with high-quality finishes, and luxurious amenities such as swimming pools and fitness centres, making it an ideal choice for urban dwellers seeking a comfortable and convenient lifestyle. Furthermore, these new launch condos also offer attractive financing options and benefits such as the Progressive Payment Scheme. These factors make new launch condominiums an attractive investment for Singaporeans looking for a new home.
In particular, city fringe condos in the Rest of Central Region (RCR) have been very hot in 2022. With condos like Piccadilly Grand selling 77% of its units on its launch weekend earlier in May 2022. Clearly, some city fringe areas are more attractive than others. And the Dunman area is one of those that really stand out. This opinion piece will introduce The Continuum, a new launch condominium in Dunman and will cover how it fairs in the new launch market in 2023. Stay tuned to find out more.
The Basic Details on the New Launch – The Continuum
The Continuum has a sophisticated and almost philosophical feel to its name. It is “a continuous sequence in which adjacent elements are not perceptibly different from each other, but the extremes are quite distinct” according to Google. Or in Singlish, same same but different. The Continuum is a freehold condominium in the RCR, located along Thiam Siew Ave. The plot was acquired by a joint venture between Hoi Hup Realty and Sunway Developments for $815M, the biggest housing site sale since the 2018 cooling measures. It has an interesting arrangement, where the stacks are located on both sides of the street.
The Dunman area in Singapore is a highly sought-after neighbourhood known for its rich history and cultural heritage. Located in the eastern part of the city, it is near the popular neighbourhoods of Katong, East Coast, and Marine Parade. This area is well-known for its traditional shophouses, which have been beautifully restored and converted into a mix of retail shops, restaurants, and cafes. The area is also known for its food scene, with a variety of popular local and international restaurants, as well as hawker centres and street food stalls.
The Continuum is located in a private residential cluster in District 15, which also hosts Katong and Joo Chiat. This condo will also be located 800 metres away from Paya Lebar MRT (15 minute walk) and Dakota MRT (10 minute walk). The larger area has a great mix of public and private residences, along with shophouses and shopping malls. The Continuum is also a 10 minute drive from the city centre through the East Coast Parkway (ECP), making this location ideal for professionals who own a car and are working in the CBD area.
The current estimated TOP date for this project is in 2027. It is estimated to bring a total number of 816 freehold units to the Dunman area, which is a huge bump to the supply of private residences in this area. For prospective buyers who are interested in this RCR area, it is important to note that the surrounding condos are mostly older suites and smaller developments with fewer than 150 units. Most of the units in these developments (with some exceptions) have most of its units sized under 800 sqft, which is great for working professionals, expats, young couples, and owners looking for rental yield. However, the space might be insufficient for larger families.
The estimated breakdown of the unit mix is as follows. Do note that this can change without any prior notice. Approximately 46% of the units follow the conventional size of units in the Dunman area (below 800 sqft), these are typically the smaller 1 to 2 bedroom units (which may face more competition upon sale). The other 54% of units will be a great addition to the residential supply for family-friendly home sizes in the Dunman area. In addition, there will be an exciting 17% of units which will have access to their own private lift.
The estimated price of The Continuum Condo is expected to come in around the ballpark figure of $2,350 psf to $2,750 psf. Due to the high bids for this land parcel, this in-demand area is expected to be priced above the new launch average price. This bold and large development is likely to be met with market interest despite tough macroeconomic conditions due to its excellent location. While another upcoming 99-year leasehold condo, Tembusu Grand is launching nearby, The Continuum is located nearer to activity hot spots like Paya Lebar and would fetch a higher price.
Usually, we find at most two to three malls near the typical condominium. The Continuum is in a n exciting neighbourhood with no lack of amenities. Kinex, City Plaza, Tanjong Katong Complex, SingPost Centre, PLQ Mall, Paya Lebar Square, and Katong Shopping Centre can all be found within a 1km radius of the project and gives future residents a larger than life slice of amenities. In addition to this whopping number of 7 nearby malls, we have Haig Road Market & Food Centre, Old Airport Road Food Centre, and Dunman Food Centre for a more authentic local feel and flavour of food.
With the bustling retail activities and excellent food culture of the area, residents are also complemented with great options to burn those calories. We can find the Singapore Stadium and East Coast Park within a 2.4km radius. The proximity to the Singapore Stadium brings many options for indoor sports, Basketball, Badminton, Sports Climbing, Rollerblading, Skateboarding are just a few examples of what residents and their families can do. East Coast Park gives an equally exciting opportunity for some sun in the outdoors. Watersports, Cycling, Running, or simply relaxing on the breakwaters are also great options.
MOAT Profile of The Continuum
PLB’s MOAT analysis is a comprehensive framework for evaluating the competitive advantages of a property. It examines properties on 10 different dimensions including: transaction volume, regional and district price disparity, landsize density, remaining lease, rental demand, affordability, and the proximity to schools, MRT stations, and HDB estates. This analysis helps investors and prospective buyers identify properties with durable competitive advantages that can generate above-average returns over the long term. By analysing a property’s strengths and weaknesses across these 10 dimensions, investors can gain a more complete understanding of the property’s competitive position and future growth prospects. You can read more in our introduction article here.
To arrive at an estimate of The Continuum’s MOAT score, we compare it with 5 other condominiums in the immediate vicinity. We select these nearby properties based on their completion dates and their relative unit mix. Given that The Continuum will yield a wide range of unit sizes, we included nearby properties with comparable unit sizes as well.
The Continuum arrives at a final estimated score of 65.6%. This is a decent score among other new launch condos. We can expect the actual MOAT score of The Continuum to be higher as it is a much larger development with a total of 816 units. The Volume Effect score would likely hit 4 or 5. Its relatively lower region and district disparity scores are due to its RCR city fringe status, among other properties in the region or district, The Continuum is located much closer to the city centre, and is nearer to the fringes of the district or region boundary. Thus, price is likely to be higher than its less central peers. The low exit audience score is also due to the fact that the Dunman area is mostly private residences. The target audience of The Continuum is likely the affluent demographic and a more limited group of HDB upgraders.
The Continuum did well in the Bala’s Curve Effect, scoring a perfect 5 due to its freehold status. It has a high Rental Demand score of 4.4, this is probably more true for smaller units of the development. Nonetheless, we can expect high rental demand in the District 15 area due to the bustling retail activities and quality food options nearby. The Continuum arrives at a Quantum Effect score of 5, this is probably because the smaller units are still at affordable quantums for the upper middle class and dual-income families. It also arrives at a Parents’ Attraction Effect score of 3.8, with Kong Hwa School, Haig Girls’ School, Chung Cheng Main, Tanjong Katong Primary, Secondary, and Girls’ School all located within a 1km radius.
A few things stand out for The Continuum. What is more interesting is the unique combination it offers. Typically, freehold developments in district 15 are much smaller and of the boutique range, with smaller sized units. The Continuum flips this notion on its head by offering 816 units, with a diverse range of unit sizes. It is estimated that more than half of the units offered will be larger than the average size of units in the area. These features in addition to the availability of reputable schools, MRT stations and malls in the area bring a core advantage to The Continuum to justify its price range.
Website : https://the-continuum-at-thiam-siew-avenue.com/
Address: 4 Thiam Siew Avenue, Singapore 436842
Email: sale@the-continuum-at-thiam-siew-avenue.com
Telephone number: +65 6100 8585