Will Clement Canopy, Lake Grande or The Centris be a better choice with a $1.2m budget?

Dear Stacked team,

Firstly, thank you for the great articles on Stacked and have been following your articles weekly.

Would like your kind opinion as I have plans for property purchase plans this year. I am a single Singaporean PR looking for a resale condo 2 bedder in the West; as I work in the West.

My budget range between one million to 1.2 million; with plans to exit within six to eight years. Looking to settle down within one to two years and would consider appreciation as main factor.

Currently considering the below projects:

1. Clement Canopy — Two bed one bath: Better appreciation, less convenience due to distance to MRT, smaller unit size, new condo
2. Lake Grande — Two bed one bath: Near MRT and convenience; medium unit size, new condo
3. The Centris - Two bed one bath: Beside MRT and very convenient; bigger unit size; older condo

Based on considerations, would appreciate your kind input. Your help is greatly appreciated.

Cheers

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Hey there,

Thank you for writing to us and thanks for the support thus far.

You might probably already know this, but just to be sure we'd reiterate this just in case anyway. Being a single PR, one has to take into consideration of the Additional ABSD (ABSD) when it comes to purchasing private property.

These add to the initial cost and are something to be mindful especially in selecting the right unit with a shorter-term plan to exit in six to eight years' time.

Although they are all located in the West, the three developments are located in two different districts and are also quite different in terms of their characteristics and points.

We will share more in detail on each development below:

The Clement Canopy:

We've done a full review on The Clement Canopy before, but in short, The Clement Canopy is a mid-sized development with 505 units. As with most UOL projects, the landscaping is on point, with the highlight being the lagoon-like pool, with the addition of another lap pool.

And while the land size isn't particularly big, 52 per cent of the site is dedicated to the facilities, which helps it to feel less dense. You also have a tennis court, which is getting harder to find these days in developments of this size.

Location wise, you aren't the nearest to the main Clementi Central for major amenities and MRT station. It is within walking distance to basic amenities over at Casa Clementi HDB precinct and the upcoming Clementi Peaks BTO. Once it is completed, the walk is straightforward and will be more convenient.

For those that drive, the location is conveniently located right next to the AYE entrance. On a less positive note, as it is located along a major expressway, traffic road noise would be an issue for this development as a whole.

Additionally, do note that there will also be construction noise from the nearby Clavon condo site that may cause some inconvenience and sound irritation over the next few years.

It's also worth highlighting that the plot in the middle of Clavon and Clement Canopy is also classified as a residential plot with a Gross Plot Ratio of 3.5 as well. So you can expect further redevelopment in the future. If priced higher, this can generally be taken as a positive, but construction works during your exit could also be a negative point.

From the graph attached, we can see that prices have risen over the years. The current average stands at $1,6xx psf, which is quite competitive with the next door new launch, The Clavon with an average price of $1,680 psf at the point of writing. Quantum wise, the 2 bedroom 1 bathroom configuration is well within your budget range of $1m to $1.2m.

Layout analysis:

At 635 sq ft, it is a two bedder one bathroom layout is all in all efficient and squarish. As always, we do like the dumbbell layout as it gives a better sense of privacy to both occupants.

There is also a good configuration of a Jack & Jill bathroom layout and neatly tucked kitchen space with decent countertop space with double cabinet space on both sides of the walls. The living, dining, and bedrooms areas are within reasonable expectations for a unit of this size — which could fit in a queen size bed minimally.

On another note, the area lacks ventilation windows for bathrooms and kitchen area, a downside if you do heavy cooking. The space also lacks a proper yard area for laundry thus the balcony has to double as a laundry area as well.

Lake Grande:

Having only TOP-ed in 2020, Lake Grande can be considered an almost new project with a decent range of facilities. Nestled between Lakeshore and Lakeville, it is the current newest kid on the block.

As with the perks of the location, it is smartly angled in a way to maximise the Jurong lake frontage but at the expense of traffic and above ground MRT track noise for certain stacks.

It is located within walking distance to Lakeside MRT station and also to basic amenities at the nearby HDB estate. Price has risen over the years, with its current $1,5xx psf, a decent price point for a relatively new project with convenience to the MRT station and basic amenities.

It does also have 710 units, which is considered today to be a mid-sized one still. So you'd usually get the usual facilities, along with a reasonable monthly maintenance.

Layout analysis:

At 775 sq ft, it is slightly larger for a two bedroom two bathroom unit type as compared to most new launches today. Let's start with the good points first.

Privacy wise, you do have a long walkway before you enter the main living space. What's great here is the enclosed kitchen area, which is like seeing a unicorn in today's new launches of similar unit types.

The enclosed kitchen also comes with a window, so natural ventilation is possible here which is always useful for heavy cooking. The master bathroom also has a window too which isn't too common for new launches.

You do get decent sized bedrooms where the master bedroom could fit in a King size bed with some space for a study. However, the biggest downside of the unit is that it comes with a very long walkway entrance which takes up a lot of space.

Additionally, the balcony area comes with an odd shape layout which may be less ideal. Similarly, it lacks a yard area for laundry.

The Centris:

If you are looking for convenience, The Centris definitely takes the limelight with its location. With a direct link to Jurong Point, bus interchange, and Boon Lay MRT station. Adding on, connectivity will improve further with the addition of the Jurong Regional Line (JRL) which is slated to start operation from 2026 onwards.

Although the usual downsides apply here if you are staying somewhere as connected like this. With its convenience to amenities and transportation, the development is pretty busy and may likely be noisy especially since the development is located at the junction of a busy road and an above-ground MRT station right in front of the development added with the construction of the JRL line.

It is a mid-sized development with 610 units, and comes with facilities such as a swimming pool (although you are sandwiched between the blocks), and even a tennis court. You are also right next to Jurong Central Park, which is a perk given developments such as these would usually feel a little dense.

From the graph attached, we can conclude that price has stagnated and experienced slow appreciation in recent years with price averaged at $1,1xx psf — it is the oldest development here, after all, having been completed in 2009.

This shows that the price may be stagnating, added to the lack of new development in its direct vicinity to prop up the price for a resale development like The Centris. Since there is construction right in front of the development itself, hence the future price will likely follow the overall market sentiments.

Quantum wise, it is on the higher side. This is due to its bigger unit sizes despite its low PSF$.

Layout analysis:

At 915 sq ft, it is undeniably spacious for a two bedroom unit. The unit opens up to a decent-sized kitchen area which comes with yard space for laundry, a rarity, especially for a two bedroom unit type.

You also enjoy a spacious living and dining area, although the area lacks a proper balcony space; which can be a downside if you are one that values some outdoor area. There is also a less ideal planter box as it may be considered as wasted space area.

We do also like the good-sized bedrooms, in this case, the master bedroom has a dedicated wardrobe area. There is also ample room for a study in the master bedroom. However, we are less inclined towards the bay windows which is a common design for homes built in the 2000s era.

Urban transformation in the west: The Jurong Lake District

I'd like to hark on this point because if we're looking at capital appreciation, then the Jurong Lake District should be brought into the fold.

To recap, Jurong Lake District will be the largest of all business districts outside of the central area and will offer space for people and businesses to grow, in a unique lake setting that blends the vibrancy and attractions of a CBD with greenery and water.

The new district will have more than 120 hectares of land available for development over the next 30 years. With more flexibility in zoning, land tenure, and phasing compared to other districts, companies can experiment with new development concepts and innovative ways to integrate live, work, and play.

Jurong Lake District will be the focus of new development in the next two decades, with the government prioritising the sale of sites within the district.

Conclusion

Lake Grande

We personally feel that Lake Grande is still a good entry point now, although as mentioned it may likely take some time to see the full benefit of Jurong Lake District.

The Clement Canopy will be highly sought after especially for families that prefer to be in close proximity to the education belt. Despite the inconvenience of taking the feeder bus to Clementi MRT, we do foresee demand from upgraders, young couples, or even single profiles.

On another note, there is another plot between The Clement Canopy and Clavon which is slated for residential use. We are uncertain when will this plot of land be open for tender, but with the new development, there will be more competition in the area as future buyers will have more choices.

On the bright side; depending on the final land cost, we do foresee resale developments in its direct vicinity will see an uptick in resale demand. But with the competition from Clavon, and the budget constraints that fit the bill for the two bedroom one bathroom unit type only, which also caters to a smaller group of buyers.

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The Centris is great for convenience to amenities and public transportation (Bus Interchange and MRT station) right at doorsteps. Connectivity will improve further with the newly added Jurong Regional Line (JRL). On another note, do be mindful of construction dust, noise, and inconvenience of JRL Boon Lay station in the upcoming years.

Also, the lease started way back in 2006 and despite all the convenience, the development is experiencing price stagnation. This is a red flag that despite being an integrated project, price stagnation does occur. Hence, this would not be our pick since capital appreciation is an important factor for you.

To be blunt, it was hard to pick between the three as they have quite different offerings and location attributes — especially if capital appreciation is your main concern as each has certain drawbacks to consider.

For example, while The Centris offers a great blend of convenience in terms of location, and even for own-stay as it has the biggest unit size, that bigger unit size may work against it when it comes to the resale market in the future where the quantum is concerned.

Especially when it is getting older in age, most people might be more inclined to go with a newer property despite the smaller size, so your target market to exit will be smaller.

For Clement Canopy, the issue lies with its competition next door, The Clavon. With such similar price points as of today, when The Clavon is completed in the future it will definitely provide a cap to how much Clement Canopy can rise given it will be the newer development.

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Lake Grande is the newest, has great views, is also well-connected, and likely has a better potential given the current price point — but given your exit timeline, the full potential of the JLD might not be fully realised here.

As such, among the three developments highlighted, Lake Grande is our top pick for decent proximity to Lakeside MRT station and it's within walking distance to basic amenities. It also sits in an area with great potential, which is the upcoming Jurong Lake District (JLD).

Overall, we have shared our thoughts on all the developments, the capital appreciation potential of the area, each of the two bedder layouts as well as our pick amongst all the contenders.

We hope that this would prove useful in your decision making.

This article was first published in Stackedhomes.