Chuan Park vs Emerald of Katong 3-bedroom
In the previous post I shared how I closed a $2.5m sale for Emerald of Katong. The buyer was initially interested in the 3-bedroom of Chuan Park, so I did a deep analysis of the two projects. This is a mini followup sharing on the main differences, and a post-mortem comparison with the actual pricing.
For their basic information, do refer here: Chuan Park (CP) and Emerald of Katong (EOK)
Unit Type: 3BR
My buyer is only interested in 3-bedroom, so I will only analyze in depth for this unit type, though largely applicable to others.
CP best 3-bedroom is C2a, at 1,033 sqft (including 50 sqft of air-con ledge).
EOK comparative 3-bedroom is C5F, at 990 sqft (excluding air-con ledge).
The difference in the area is because EOK is a harmonization project. To make comparison fair, we will translate EOK to non-harmonization PSF by adding a mere 40 sqft for air-con ledge, therefore giving it a total of 1,030 sqft. Hence their total floor area is quite the same.
At the same size, there are still some differences:
- EOK bedrooms are longer, but narrower eg. master bedroom for EOK is 4m vs CP 3.7m, which imo EOK wins
- EOK has a flex/study instead of a store, which again EOK wins
- Yet EOK provides a small store
- EOK kitchen has a corner of see-through windows to the living room, thus also provide more light into the kitchen
- EOK WC at the yard is a better placement
- CP living is squarish and larger
Clearly, EOK has an edge in terms of the layout. But each has its own; some buyers might just want a big storeroom and a bigger living room.
Other unit types
There are many 3-bedroom types. All of EOK layouts are acceptable.
For CP, some of the layouts are just not good, or bluntly, bad. You can find their floor plans in here.
C1a: Has long foyer, fridge placed deep in kitchenC2: Big foyer, weird kitchen, hard to place dining tableC3: Fridge placed deep in kitchen..
CP premium series (C3) also are less value-for-money, because at 200 sqft larger, while it provides bigger rooms, but yet it doesn’t has “plus study”. It is more luxurious, but is harder to move. UPDATE: As expected, they remain unsold as they start from $3m!
EOK 4-bedroom is also outstanding, especially the dumbbell layout with study (D1S) at great value.
Location
CP has Lorong Chuan MRT at it’s door step, and also very near to CTE, the spine of Singapore. It is therefore super accessible to all parts of Singapore. It is in Serangoon, so schools and amenities are top notch.
EOK is 10 minute walk to Tanjong Katong MRT, which is a brown downtown line but that is more isolated – changing to other lines not as quick. It is near to ECP, but not comparable to CTE/PTE. But D15 is a more atas district. Schools and amenities are also top-notch, plus it is near to CBD and the National Stadium.
The planned long island and transformation of kallang alive also make D15 more exciting.
Both locations are excellent.
The site
Both are mega project with over 800 units.
CP is outstanding here because the plot is huge. It is probably one of the least dense project ever. The blocks are far apart. But CP is bounded by the busy Lorong Chuan road. While one of the “premium facing” block is unblocked view, it is plagued by the busy road.
EOK is bounded by 2 condos and an empty plot that will likely be for another private residential in the future.
Post-mortem of actual pricing
Both developers gave similar indicative price guide, but the actual pricing turns out to be vastly different.
CP pricing much higher than indicative (sly wolf)! And 4 x 1% increment in a single day!
EOK pricing is excellent, and zero price increase.
EOK hence sold 99%, making it the best launch of 2024.
