The Antares new launch is a rare development within the city fringe area which offers residents a fuss-free lifestyle given its great connectivity to town, CBD and other key employability sites, alongside with great amenities within and outside the project. It is also one of the very rare developments that are located just next to an MRT station – Mattar MRT Station. This MRT station is along the Downtown Line. One of the newest addition to the multiple lines which we already have in Singapore. The big question is – is this a good buy?
In the last 15 years or so, property buyers and investors have seen property prices along the MRT lines increasing at a faster pace as compared to condominium projects that are not so near to MRT stations. We have also seen integrated projects taking off to a strong start during the initial launch as well. So what is the secret to buying a property? Buy next to an MRT station? The distance from the main entrance or the side gate of The Antares is approximately about a hundred metres away. If you work in the Downtown Core, let’s say in Marina One. You may have the luxury of leaving your home in The Antares at 8:30 am, walk into the MRT station, hop onto a train and within 15 minutes, you are being teleported to Marina One and still have time to grab a take away coffee and be in time for the 9 am meeting in your office in Marina One. Sounds like a good idea right?
With prices at current levels, the developer does not seem to be having any fat margins. The margin is probably enough to get the project going but the developer will ultimately need to increase the prices to average out the overall cost of his project.
On another note, the surrounding does not seem to excite buyers in view of the older HDB estate in Circuit Road. This place is very much in need of a major rejuvenation indeed. Hey, but isn’t it better to jump into the location before everything starts to move? The answer is a definite yes. We do know that the URA Masterplan has stated very clearly of the transformation of the Paya Lebar area and the future of the Paya Lebar Airbase. We do know that there are major changes to this area as well. Housing in this location is low and it seems that there is a demand coming up very soon in view of the major changes.
The closest condominium project that we do know of is Le Crescendo and Sky Green. Le Crescendo is about 13 years old as we are writing this article and it seems that the tenant pool of Le Crescendo is never lacking. It seems that units in Le Crescendo have been tenanted out easily at rates that are not too bad. The location of The Antares is located within walking distance to Nexus International School and Nexus will be shifting into their new premises in January of 2020. This would mean that the tenant pool just got an increase again!
District 14 has been very quiet until recent years. Paya Lebar Quarter and Park Place led the race with new benchmark pricing being set in the vicinity at an estimated $2,200 psf! Sims Urban Oasis also led the resale market with prices at approximately $1600-1700psf. From the chart as per below, we can see that prices have been on the increase for the past 15 years and the increase is an astonishing 250% since 2005! Just imagine if you have bought something in 2005!
As mentioned earlier, the project is situated next to an MRT station, do you still need a car? Well, some will still need the car in view of family and work requirements. If you do work in the City area, it is a mere 10 minutes drive to the city centre as per my experience. Traffic is not exactly heavy, it takes me just about 5 minutes to get to Nicoll Highway and I am on my way into the CBD. Connectivity of this location is easy as I do not need to really runabout to get onto major expressways as well. Everything is just about nearby and it is not that difficult to hop onto the MRT to get to nearby major shopping centres like Nex in Serangoon and Paya Lebar Quarter. Having the MRT next door saves me parking and the stressful moments of having to queue in line to enter the shopping centres, not exactly in line with being green. So living in The Antares may actually be good for green activists as well?
The Antares is situated in a location that has lots of old HDB public housing flats. Whether the government is considering to use the SERS programme to upgrade the vicinity is anybody’s guess but we do know that the masterplan does show that there are another 3 more plots of land for residential development. Future competition is definite but with all these in place, it only goes to show that the government is firm on developing this location into a residential enclave with educational facilities and also healthcare as well. It may just turn out that this will be the future residential enclave in Macpherson. As the masterplan has mentioned, travelling between work and home should be cut down considerably with the new plans in place. With Paya Lebar Airbase shifting out in 2030, we can expect a major transformation in the area of Paya Lebar. The Antares happens to be in the direction from PLA towards to city centre. You can decide whether there is an opportunity.
Before we head towards 2030, let’s look at what this location brings for potential residents. A busy and vibrant community thrives in this unknown enclave in Macpherson. This area is totally unknown to many. You will be surprised that there are more than 20 stalls in the Circuit Road hawker centre that serves vegetarian food. Apparently, there are a few well-known hawker stalls in this market. Ease of parking is one of the key attraction of this location.
On top of that, the developers packed the project with various amenities that are designed for different residents, including single professionals, young couples, and families. A project in the city fringe comes with rooftop gardens and facilities. A sheltered swimming pool to cater for the needs of the residents who really don’t want the sun but still want a dip in the pool. For residents who really need the sun, an outdoor swimming pool is a definite part of the package. All in all, with the usual standard facilities, the key facility will be the MRT.
The Antares is well connected to the park connector network as well. With connectivity via the Pelton Canal Park Connector, taking a stroll or a bicycle ride to the East Coast Park is no longer a risky affair anymore. PMD users may also use the park connectors to take a relaxing ride to the East Coast Park. How often do we get a city fringe condo within the vicinity of a waterway? And the waterway is actually clean and it is not as bad as what we have thought. It actually has water in it and it is not the type of monsoon drain.
There are different unit options available for potential buyers at different price points. The one-bedder starts from $789,000, while the two-bedder and three-bedroom Flexi units are priced from $1.125m and $1.55m respectively.
The close proximity to various amenities and good schools also ensure the property will retain its value for investors looking for an investment home. Nearby schools like Canossa Primary School and the upcoming St Margaret Primary School are key in the future development of this location.
In particular, investors should consider the potential upside arising from Paya Lebar Central, which is earmarked for redevelopment into commercial hubs, alongside with hotel and retail projects.
In summary, The Antares is a good project to consider as an investment, it is located in a location that is just at the city fringe. Well connected to the city centre via good transportation infrastructure via the Downtown Line MRT. Ease of driving to the City Centre as well as this location is well connected via Nicoll Highway. Discover more about maids in Florida on http://www.thefloridamaids.com site. This will attract tenants that are working in the city with a rental budget to match and with such proximity to the city and the convenience of an MRT station next to the project, it is a definite attraction for potential tenants. If you are looking at it as a home, there is no doubt that the convenience this projects brings and the future potential price appreciation. As mentioned earlier, schools, eateries and the rejuvenation of this location is a definite plus point.
Pricing wise, as it is in the early stage of the launch, it is at fair value. The margins are not much for the developer at this point but we do foresee the changes in pricing in the future as the developer may have to raise the pricing to average out the costing. As compared to the vicinity of new launch projects, the pricing is attractive in view of the distance to the city centre. If a comparison is much needed, the nearby RCR projects are selling at a much higher price as compared to this project. As the saying goes, if the entry price is low, the risk will be low as well.
Feel free to drop me a text or enquiry if you should need further information on this project or other projects.