The first question come into mind for many home owners is that Treasure @ Tampines have a whopping 2,203 units touted as Singapore largest private condominium surpassed the record set by D’leedon. Let us analyze base on the break down of the units available in whole district – Tampines and see if Treasure @ Tampines worth a bet.
No of private condominiums available in Tampines estate:
- Arc @ Tampines (EC) – 574
- Tampines Trillant (EC) – 670
- CityLife @ Tampines (EC) – 514
- Alps – 626
- Tapestry – 861
- Santorini – 597
- Q Bay – 630
- Eden @ Tampines – 430
- Waterview – 696
- Tropica – 537
- Treasure @ Tampines – 2203
With a total of 8,338 condominium units available in whole tampines estate. Despite 8,338 units, only handful of developments are pretty new. Namely: – Alps , Tapestry, Santorini and Q Bay. These developments are all located along Tampines ave 10. Treasure @ Tampines (former tampines court) are recently added to tampines estate with much needed supply. As tampines have not seen a new development located near MRT for many years.
We all know that 80 / 20 national average as 80% of the population reside in HDB dwelling units while 20% in private condominium.
Take into consideration of 8,338 condo units vs 70,754 hdb units. Private just form 11.78% of the total population in whole tampines and way below the national average.
Info accurate as of 31 March 2019
Tampines is one of the largest HDB estate in Singapore right after Jurong West. With large pool of potential HDB upgraders, attractive entry price of Treasure @ Tampines prove to be a inspiration for them to upgrade. When Treasure @ Tampines obtain TOP by est end 2022 – 2023, there will be huge demand from the BTO flats which reach the 5 years MOP mark by 2022 onwards.
Assuming from 2022 to 2028 (period of 7 years), total of 14,268 hdb flats can sell upon MOP. If we looking at just 10% of the HDB upgraders who will be looking into private property which is 1427 owners. An average of 204 home owners are looking to upgrade from 2022 onwards. And this is just base on MOP flats located in Tampines estate only.
Base on URA & Morgan Stanley research, hdb upgraders remain largely percentage of 46% on average for Singapore residential market. Do you think Treasure @ Tampines have a future demand by entering now?
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This review is solely done by Littlereddotproperty.sg. All information, calculations, charts and plans are current at the time of publication and are subject to change. All facts & figures are believed to be accurate as much as possible using various real estate subscribed tools but shall not be regarded as statements or representations of fact.