Capturing the allure of Tampines
This is one of the best-selling projects of 2019 to date. Treasure at Tampines sold 272 units despite previewing for only a week. The project boasts spacious units at an affordable entry price. But is there more to the hype?
1. Its affordability makes it a great buy now
With an average price of $1,280psf, Treasure at Tampines is one of the most attractively-priced new launches of 2019. Current five-year-old Executive Condominiums (EC) are achieving the $1,000psf mark. ECs in Punggol or Sengkang have crossed that threshold, and most upcoming ECs are expected to launch above $1,000psf as well. This makes Treasure at Tampines a value buy for a fully-private development.*
Table 1: Recent EC Launches, sources: Urban Redevelopment Authority, ERA Research
2. Continued economic development in the East
Tampines has earned its reputation as an important commercial hub. Changi Business Park, launched in 1997, has attracted major IT and financial services companies such as IBM, Hitachi, DBS Bank and Citigroup. OCBC Bank and United Overseas Bank moved their back end operations to Tampines in 2002.
Another driving factor behind sustained growth at Tampines is Singapore’s ambition to remain as the leading global aviation hub. Jewel Changi Airport* will be opening in April 2019, and the new Changi Airport Terminal 5 – Singapore largest airport terminal – is slated to be completed by 2030.
3. The enduring popularity of the Tampines Regional Centre
As Singapore’s first regional centre, the Tampines Regional Centre has since established itself as a vibrant hub of lifestyle and shopping amenities. Uniqlo even opened their first store in Tampines 1 in 2009 – a telling sign of the allure of this dynamic locale. Today, Tampines Mall, Tampines 1 and Century Square have attracted retailers the likes of Isetan, BHG, H&M, Muji and Topman.
Our Tampines Hub is another outstanding addition to Tampines Regional Centre. As Singapore’s largest integrated community and lifestyle hub, it boasts many sports facilities, a regional library, arts facilities, a hawker centre and retail shops. It is also at the centre of many arts and community club programmes.
Travelling to Tampines Regional Centre is a breeze from Treasure at Tampines – it’s only 10 minutes away by car or by bus.
4. Healthy demand from HDB upgraders in Tampines
Tampines has benefited from decades of development, growing into one of the largest towns. Many HDB upgraders in Tampines may be looking to invest in new projects near their current homes. A generation of buyers who grew up in Tampines might be looking for new homes near their parents as well. With its convenient location, Treasure at Tampines is bound to have the attention of the residents in Tampines.
5. Few new launches in the surrounding area
For now, Treasure at Tampines is the only new project launched in the area. There are only two sites up for development in District 18 – a new EC at Tampines Avenue 10, and a new mixed-use commercial and residential development at the Pasir Ris White Site. With the en bloc market cooling down and reduced Government Land Sales (GLS), new launches in the area might see a slowdown in the short term. For Treasure at Tampines, there might be better potential for its prices to appreciate in the future.
A Rare Opportunity
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Tampines remains a bustling district with a comprehensive array of amenities and workplaces. With such proximity to all that Tampines can offer, Treasure at Tampines should definitely be in your sights if you’re looking for a property in Tampines.
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*Source: Urban Redevelopment Authority, ERA Research
Artist Impression of Jewel Changi Airport – commons.wikimedia.org
