In the past, residents of Punggol have had to make do with limited amenities, even though the opening of Waterway Point in 2016 provided some relief. Since then, Punggol has developed into a bustling region with plenty of amenities and the title of Singapore’s first successful eco-town.
We recently covered the top 5 growth condos in District 19, which has the highest volume of transactions. As one of Singapore’s largest residential districts, D19 spans Hougang, Punggol, Sengkang, and parts of Serangoon along the North East MRT Line (NEL). In our previous article, we discovered that most of the top 5 growth condos were clustered around Hougang, which is no surprise since it is the oldest area in the district.
On the other hand, as the youngest area of the district, Punggol has also been performing relatively well over the years while undergoing developments. With the recent launch of One Punggol CC, a 45,100 sqm integrated community hub, as well as the upcoming Cross Island Line that will connect Punggol directly to the Eastern, Western, and Central regions, the properties in this area have much growth potential.
In this article, we will review eleven 3-Bedroom Condos under $1.5M in Punggol. If you are looking into this area for your next home purchase, this article might help you narrow down some of your choices. Let’s get right into it.
1. Parc Centros
Parc Centros is one of the most accessible projects in Punggol, being a short 4 mins walk away from Punggol MRT station. This means convenient access to Punggol Bus Interchange, Waterway Point, and the Punggol LRT network, which connects you to other malls like Oasis Terraces and the new Northshore Plaza. Families who prefer to be within walking distance of amenities would appreciate this strategically located development.
Obtaining its TOP in 2016, it has a healthy balance lease of over 90 years – the advantage of getting a resale condo in a relatively young estate. The 3-Bedders (Type C1) in this project are currently averaging around $1.44M, with the transactions climbing from $1.2M since 2021. With the upcoming Cross Island Line, we think this project has a lot of room for potential growth.
2. River Isles
Sitting on a massive land size of 20,256 Sqm, River Isles has all the facilities you can think of – a clubhouse with a blue lagoon, hydro gym, BBQ/Teppanyaki/Gourmet/Pizza pavilions, tennis and fitness courts, and more. With four water-themed areas (Caribbean Island, Explorer Island, Paradise Island, and Wellness Island), residents can indulge in a wide array of facilities for relaxing activities.
The 3-Bedders currently listed, 3-Bedroom Compact (Type C2) and 3-Bedroom (Type CS3, CS3A & CS5), are averaging around $1.34M. The unit sizes range from 894 sqft to 1,184 sqft. We think that this is a good entry price quantum, especially for HDB upgraders in the area.
In terms of the floor plans, type C2 and CS5 units have more squarish layouts, while type CS3 and CS3A have unique angular corridors leading from the living and dining area to the bedrooms that some might not appreciate. However, all of them have efficient dumbbell layouts where bedrooms are tucked on opposite sides of the house. Depending on preference, the angular layout may suit buyers who would like to work with a more unique space and the regular layouts would cater to those looking for a more efficient floor plan. Units with the type CS3 layout also have an extra balcony space in the master bedroom, a bonus for those who appreciate the extension of personal space.
One other potential obstacle we foresee is the proximity of the fire station. On top of being surrounded by two schools on the western and southern sides, Punggol Fire Station is located on the northeastern side of the project. Families with young children who prefer quieter facings and want to avoid the road facing units, may opt for the inner stacks (Block 62, 64, 66).
3. FLO Residence
Completed in 2016, FLO Residences is strategically located at the southeastern edge of Punggol. Punggol Plaza and Punggol 21 Community Centre is conveniently located to the north of the project for families that prefer to be within walking distance of amenities. It is also one bus stop from the Punggol Container Restaurants, an excellent place for couples and families to enjoy the ambience and other recreational activities.
In terms of accessibility, FLO Residence is a short 5 mins walk from Coral Edge LRT Station, which connects it to Punggol MRT station. With a bus stop serving the project located on the southeast side, you can reach Riviera LRT Station in one stop. Riviera is also one of the upcoming Cross Island Line stations, which will provide direct access to the central, eastern, and western regions of Singapore.
Specific stacks facing the east and southeast may get unblocked views of Sungei Serangoon river and the greenery beyond, thanks to the empty plot of land to the project’s south. The URA Master Plan does not show any confirmed plans for this plot, but future developments might change that.
The 3-Bedroom units currently listed are about $1.31M, and the average PSF prices have been trending upward since 2020. Furthermore, rental demand is high due to the nearby Global Indian International School.
Another thing that caught our eye is that ground floor 3-Bedder units are currently listed at around $1.38M. At 1,152 sqft, the floor plan includes a Private Enclosed Space (PES) that homeowners can creatively convert into extra usable space. The price quantum for this 3-Bedder with PES is close to smaller 3-Bedders from the same project, so we feel those who have no preference against staying on the ground floor, might want to consider capitalizing on this relatively low entry price.
Located to the southwest side of Punggol MRT, Ecopolitan occupies a sizable 18,689 sqm plot with 512 units. The Soo Teck (PW7) LRT Station is less than 450 metres from the project, while the Punggol (NE17) Station, which serves the North East Line (NEL) and houses the Punggol Bus Interchange, is around 700 metres from the project. The Tampines Expressway (TPE), which is just adjacent to the project, makes it simple to drive to anywhere on the island.
The first thing we noticed about the project is that it offers a wide range of floor plans. For 3-Bedders, it includes 3-Bedroom Standard, PES, Sky Unit, Dual Key, Dual Key PES, Dual Key Sky, Cospace, Cospace PES, Cospace Sky, Premium, Premium PES & Premium Sky. (That’s a lot of variation!)
If you’re wondering what the Sky Unit and Cospace layouts are like, you’re not alone!
We took a look at the Sky Unit layout, and it is essentially a penthouse unit with a higher ceiling in the living room space, giving it a luxurious loft-living experience. It features a squarish layout with the bedrooms tucked on the one side of the unit.
The Cospace layout is slightly more unique, in our opinion. Entering the unit, you will be greeted by a wide living and dining room space, with a wide balcony right beside. On the left of the entrance, you will find an allocated space for a dry kitchen that extends into the main kitchen, yard, and utility room. Further into the unit, what we find special about this layout is that the common bathroom is tucked right in the middle of the two common bedrooms, while the space where the common bathroom is typically found is replaced with a study room. This is rare for 3-Bedder units, as the layout is usually too compact to fit in a study. Furthermore, this layout features an allocated space for a walk-in closet in the master bedroom, which is quite popular amongst young homeowners nowadays.
The 3-Bedder units currently listed are mostly 1,055 sqft to 1,216 sqft, averaging around $1.4M to $1.5M. While this is slightly pricier than other developments in Punggol, even those that are nearer to the MRT station, we feel that the premium is worth it, given the unique floor plans available that can’t be found elsewhere. Those who may want to explore having a more unique layout in their home will appreciate this feature.
Located south of Parc Centros, Prive is another project within 5 mins walking distance from Punggol MRT. Its land size of 22,497 Sqm with 680 units makes it one of the biggest and most spacious projects in Punggol.
The 3-Bedders currently listed are the 3-Bedroom Type C2-b2/C2-b2a (1098 Sqft) and the 3-Bedroom Suite Type C3-b1 (1,184 sqft) variations, which range from $1.38M to $1.5M. These variations feature extra balcony space, which gives the units a larger floor area. We think the Type C3-b1 (1,184 sqft) variation has great potential, even though it is unsurprisingly pricier due to its larger floor area. In terms of PSF, this variation has a lower PSF ($1,266) compared to its smaller counterparts which are going for $1,300 PSF. But of course, this may be partly due to the renovations done or other factors that may not be reflected on paper.
The 3-Bedroom Suite Type C3-b1 (1,184 sqft) also boasts a dumbbell layout, with one of the common bedrooms having an ensuite bathroom. We think that the suite feature of some of the units in this project is quite attractive, especially for buyers or investors considering rental potential and yield.
Waterbay is the smallest project in Punggol, sitting on a land size of just 13,232 Sqm with 383 units. Located right next to Edgefield Primary School, it has good accessibility via bus stops towards the north and south of the project and is a short 4 mins walk away from Cove LRT station, which connects to Punggol MRT station.
For families with school-going children, Waterbay is sandwiched between Edgefield Primary and Punggol Secondary School. Punggol View Primary, Oasis Primary, Horizon Primary, and Edgefield Secondary School are within 1km of the project. With the abundance of schools in the vicinity of the project, parents will have plenty of options.
The 3-Bedders currently listed are of the Type C2 and C2a floor plans, averaging $1.42M. Both variations have similar layouts, but the bigger Type C2a units feature an additional balcony space in the master bedroom and are currently listed with an asking price of $1.45M. Those who appreciate the extension of personal space in the master bedroom might want to consider the slightly pricier layout.
7. The Amore
The second smallest project in Punggol, The Amore, sits on a 13,573 sqm plot of land with just 378 units across six blocks. Each level houses four units, amply spaced out to optimize privacy.
The first thing we noticed about the project was the open field across the street from the outer stacks of blocks 53 and 53A. Although this creates some distance from the Punggol Fire Station, it could still be a potential obstacle for those sensitive to high noise levels from the passing sirens. Furthermore, according to some Google Reviews, there are no public shower facilities for visitors at the condo. The drop-off point at the entrance is also not sheltered, although you can easily resolve this by dropping off at the basement carpark instead.
Like many other projects in Punggol, The Amore is surrounded by reputable schools like Horizon Primary and Greendale Secondary. In terms of amenities, it is around a 4 mins walk away from Kopitiam and Giant and roughly a 7 mins walk to Oasis LRT station and Oasis Terraces mall.
The 3-Bedders currently listed are the 3-Bedroom Type B2 (990 sqft) and 3-Bedroom Premium Type BP (1,098 sqft) layouts, averaging at $1.27M and $1.37M, respectively. Both have very efficient layouts, with the 3-Bedroom Premium boasting an additional utility room and bathroom behind the kitchen space. The large balconies in this project could also be an attractive feature, with the possibility of turning it into an al fresco dining area or even a study.
8. The Terrace
The Terrace is one of the two condos in Punggol (the other being Watertown that sits atop Waterway Point) that offers waterfront living, overlooking Punggol Waterway. Piermont Grand, which TOPs in 2023, will join them as the third. It is served by Kadaloor LRT Station, which is a 2 mins walk away. One LRT station away is Oasis Terraces mall, with plenty of amenities available.
Since it is located right next to Punggol Waterway, residents get easy access to Punggol Waterway Park which leads to Sengkang Riverside Park on one end and Sungei Serangoon PCN on the other. Those who are more adventurous can also cycle across the Lorong Halus Red Bridge for access to Coney Island and Pasir Ris, which makes for an excellent weekend recreational activity for families!
Most of the 3-Bedders that are currently listed have the Regular (Type A, 1,001 sqft) and Premium (Type B2/B3/B4, 1,076 sqft) layouts. One thing we noticed about the Regular layout is the elongated entrance leading to the kitchen and dining area. While it might provide more privacy as it creates more distance from the living area, the space might become inefficient or wasted – something to consider prior to renovation. We think the space could potentially fit some storage cabinets, display wall for collectables, or even a feature wall.
One of the common bedrooms in the Regular layout is also smaller in size, and would probably not have enough space for anything bigger than a single bed. On the other hand, the Premium layouts offer larger common bedrooms, with space to spare even after fitting in a queen size bed.
9. Twin Waterfalls
Located to the southwest of Punggol MRT and next to Punggol Green Primary School, Twin Waterfalls sits on a 25,164 Sqm plot of land with 728 units.
In terms of connectivity, Twin Waterfalls is serviced by bus stops to the north and west of the project, both of which can connect residents to Punggol MRT and bus interchange. Alternatively, it is an 11 mins walk.
As for the number of units, it is second only to The Terrace, so it is no surprise that it also has one of the highest volumes of transactions.
What we like about this project is that it offers three types of 3-Bedders – Compact, Regular, and Dual Key. For the uninitiated, dual-key units are essentially two self-contained units within the same property. They are highly sought-after as it gives the homeowner a lot of flexibility in terms of rental and own-stay. Investors can choose to rent out ‘both’ units for a much higher rental yield. Multi-generational families can have more privacy by staying in two ‘separate’ units. And lastly, hybrid owners can stay in the studio or main flat and rent out the other while maintaining privacy.
10. RiverParc Residence
RiverParc Residence is the project furthest away from Punggol MRT, but it makes up for that with its proximity to Kadaloor LRT Station. It also offers unblocked views of Punggol Waterway to the northeast side and Sungei Serangoon River to the southeast side across the PAR Golf Range.
East of the project is the upcoming Waterway Sunrise II BTO, originally slated to be completed between Q1 and Q2 2021 but was since pushed back to between Q4 2022 and Q1 2023 after COVID-19 delays. This could offer a good exit strategy for investors as HDB upgraders from this BTO might look toward the nearby RiverParc Residence after its MOP.
Like Twin Waterfalls, Riverparc Residence offers 3-Bedroom Dual Key units with a decent size of 1,227 sqft. At the time of writing, only one such unit is listed, with an asking price of $1.49M. As we mentioned earlier, dual-key units are highly sought-after and getting rarer, so we feel that one available at this price is worth considering.
Other units available are the C1 and C1a types (990 sqft), averaging $1.29M. One potential obstacle we foresee for this layout is how the kitchen is right outside one of the common rooms. For families that do heavy cooking, grease and smoke might be an issue, and buyers should put more consideration into the renovation to enclose the kitchen properly.
Right next to FLO Residence, Waterwoods is a relatively small development sitting on a 14,307 sqm plot with 373 units. It is a 4 mins walk to Coral Edge LRT Station, which connects to the Punggol LRT network and Punggol MRT. You will also find Punggol Plaza and Punggol 21 CC 8 mins north of the project. Towards the northeast side, an 8 mins walk will lead you to Riviera LRT Station and the future Cross Island Line MRT Station. From Riviera, a short walk will also take you to the Punggol Container restaurants and bars, with recreational activities like prawning and pool/billiards.
Like FLO Residence, specific stacks facing the southeast might get unblocked views of the Sungei Serangoon Rriver, but future developments to the currently empty plot of land to the project’s south might change that.
At the time of writing, the only 3-Bedders here with an asking price of below $1.5M listed on the market are the Type B3 units. This efficient layout offers a wide balcony that expands the living and dining room space, making the unit feel bigger overall.
Overall, Punggol is a good location that is perfect for families with many projects within 1km of a reputable school. As Singapore’s first eco-town, the greenery and scenic waterfront views of many of the projects in Punggol offer nature lovers an unparalleled living experience.
With Punggol MRT Station and Riviera LRT Station being part of the upcoming Cross Island Line, the current entry prices for the condos here look very attractive. They will likely see an appreciation in the coming years. If you are interested in any of the developments we have mentioned, do feel free to contact us.
Till next time, stay tuned for more PLB research and featured insights! Take care!
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