When it comes to gauging the popularity of condos here in Singapore, the two most common metrics that people typically look at are: the number of visitors showing up at its showflat, and how many units are sold on its launch day or opening weekend.
The numbers certainly don’t lie. Back in 2017, all 531 units of executive condo Hundred Palms Residences were snapped up within 7 hours on launch day. In 2021, luxury condo CanningHill Piers sold 77% of its units on opening weekend, which included a $48M penthouse. And in July last year, AMO Residence sold 98% of its units on the first day of launch, making it arguably the hottest launch of 2022.
Sceneca Residence, the first condo launch of 2023 had a solid 60% of its units sold at its launch this past weekend. Here’s everything you need to know about the launch, and what to consider if you’re still interested in snapping up one of its remaining units.
60% sale rate on launch weekend
Image credit: Singapore Property Website
Developed by MCC Land, Sceneca Residence is a 99-year leasehold private condominium that’s set to TOP in 2026-2027. It’s a mixed development, meaning that its residential component will be combined with a commercial element; in this case, the ground floor will have 19 commercial units that will typically feature some small retail and dining outlets, and a supermarket for groceries.
According to online reports, 160 units out of 268 available units were sold on its launch day on 14th Jan. The majority of these sold units were 1-bedroom and 2-bedroom units, with an average transacted price of $2,072psf, or around $958K for a 1-bedroom and $1.33M for a 2-bedroom.
Just like CanningHill Piers, the condo’s star highlight, a 2,756sqft four-bedroom penthouse, was sold on launch day, for over $5M. About 88.5% of buyers were Singaporeans, with PRs and foreigners making up the remainder.
Given that Sceneca Residence is essentially the first private condo launch since the implementation of property cooling measures in September last year, a 60% sale rate on launch day is quite a commendable feat.
Overview of unit types and indicative prices
Even though its sale rate is lower than some of the previous launches we outlined earlier, this could be due to potential buyers being more conservative, given the uncertain economic outlook as well as the current elevated prices in the property market.
Image credit: Sceneca Residence
Right off the bat, what will stand out for most property watchers is its size. At 268 residential units, it’s considered one of the smaller condos out there. Of course, this wouldn’t really affect its launch prices and initial buyers a whole lot, but for subsequent buyers down the road this might be a factor because of the lower number of units available for sale.
In terms of unit types, they’ve got the normal lineup from 1-bedroom options to 4-bedroom options and the penthouse. These are spread out across 2 towers, with 11 stacks each.
The condo’s amenities include a 50m lap pool for swimming, a smaller splash pool for children, and outdoor pavilions for hosting parties al fresco. However, one noticeable difference between Sceneca Residence and other condos is that it doesn’t have a tennis court, which might be a dealbreaker for some.
The floor plan of a 3-bedroom unit in Sceneca Residence.
Image credit: Sceneca Residence
Based on what we can find online, here’s a snapshot of the various sizes for the unit types, and their indicative starting prices:
- 1-bedroom (463/570sqft | 25 units) – From $958K
- 2-bedroom (678-797sqft | 25 units) – From $1.33M
- 3-bedroom (904/1,055sqft | 37 units) – From $1.76M
- 4-bedroom (1,518sqft | 23 units) – From $2.98M
All units come furnished with digital locks, built-in fridge and gas stoves, a spice rack and wardrobes in the rooms. This is quite a welcome feature, and helps to save some of the renovation cost when doing up your home. As it stands, some might consider the project to be priced a little out of value. The average transacted price of units here stands at around $2,072psf, which is on the high side for developments in the Outside Central Region (OCR) area.
Because of this, some might rather just top up just a little bit more for the city-fringe Rest of Central Region (RCR) instead, where there’s a higher ceiling for price appreciation.
Attractive location in the East with potentially strong rental demand
Image credit: Seneca Residence
Sceneca Residence’s biggest selling point is that the development will be directly linked to the Tanah Merah MRT station. This affords residents the unbeatable convenience of having an MRT station right at their doorstep, allowing them to zip down the East-West Line to the CBD, Jewel at Changi Airport, or if they are so inclined, a journey to the West.
Sceneca Residence’s official address is 28 Tanah Merah Kechil Link.
Image adapted from: Google Maps
If you’re familiar with the area, you might recognise it as being in the vicinity of other private condos and landed property, which helps in raising its overall value. Its location is quite strategic, because you can then travel either towards Bedok, or towards places like Expo by travelling along the main New Upper Changi Road via bus or car.
For foodies, you’re in luck! Sceneca Residence is relatively close to some well-known food joints like Simpang Bedok, Bedok 85 Market and Bedok Mall, with options that run well into the early hours of the morning if you’re feeling peckish for some supper. For grocery runs, your first option would be to just head down to the supermarket on the ground floor. Otherwise, if you’re looking to head out further for more shopping options, then you can head to the smaller shopping complexes like East Village, Bedok Mall, or the 24-hour NTUC Fairprice at Blk 57 New Upper Changi Road, which is about a 10-min walk away.
For families with children, Sceneca Residence might also be a good pick because of how it is relatively close to some pretty notable schools:
- Anglican High School (550m away)
- Bedok View Secondary School (500m away)
- Temasek Primary School (1.5km away)
- St Anthony’s Canossian Primary and Secondary Schools (1.5km away)
The biggest draw for recreational spots would be East Coast Park, which is just around a 10-min drive away. Alternatively, you can also head to the Bedok ActiveSG sporting complex just 15 minutes away on foot, which has a sporting hall, swimming pools and a gym!
How sales might shape up for the remaining 40% of units
Image credit: Newlaunch.sg
Given that the majority of the 60% units sold were 1-bedder and 2-bedder units, it seems likely that most of the buyers are investors rather than actual occupants. Because of its proximity to places like Changi Airport, Expo and Changi Business Park, Sceneca Residence holds strong rental potential, and so naturally this would attract buyers looking to use it as an money-generating asset vehicle rather than an actual home.
If you’re interested in snagging a unit for yourself, the good news is that there are still larger 3-bedroom and 4-bedroom units available.
Verdict:
Based on our assessment, those who would benefit the most are people who see themselves working in the East for the foreseeable future, because of the proximity and convenience to travel to and from home. If you’ve been an Eastie your whole life, then it’s also an option worth considering, especially if you’re looking to upgrade from an HDB or an EC to a private condo.
Overall, Sceneca Residence has set quite a strong bar as the first condo launch of 2023, setting the tone for what’s to come. With more private condos slated to launch in the coming months – and some of them in good locations such as Terra Hill near the Southern Ridges – we can expect more of such noteworthy condo sales, and probably even higher percentages of sale rates on opening days.
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