5 sea view condos you can own for under $1.5m (Q3 2020)

Multiple viewings later, none of the condos you’ve seen excite you. There’s just something… drab about them. It’s a common phenomenon, and we know a possible cure: Try viewing a condo with a sea view instead.

This is one of the most underrated aesthetic factors – you may not think it matters too much, until you’ve experienced sitting on your couch and looking out at the ships.

As a nice plus, any place with a good sea view probably gets a good breeze too; and it may be a short trip to the beach / riverside. Of course, the common downside would be the not-so-nice salt air corrosion.

So while these properties can get a bit pricey, there are still options below $1.5 million; at least for two-bedders or below (sometimes bigger if you get lucky!)

1. Costa Del Sol

Address: Bayshore Road (District 16)

Developer: Japura Development Pte. Ltd.

Lease: 99-years from 1997

Completion: 2004

Number of units: 906

 

The indicative price range is between $893 to $1,450 psf, with an average of $1,256 psf.

These are the most recent transactions below $1.5 million:

There have been 883 profitable transactions, and 83 unprofitable transactions so far.

The range of two-bedders (947 sq. ft.) have seen the same asking prices throughout this year; these are likely from the same seller:

Date	Unit Size	Price PSF	Quantum
Oct 22, 2020	947 sq. ft.	$1,518	$1,438,000
Aug 12,2020	947 sq. ft..	$1,518	$1,438,000
Aug 7, 2020	947 sq. ft..	$1,518	$1,438,000
June 26, 2020	947 sq. ft..	$1,518	$1,438,000
June 25, 2020	947 sq. ft..	$1,518	$1,438,000

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Costa Del Sol is situated in a cluster with two other condos along Bayshore Road. These include Bayshore Park, and The Bayshore.

This development is noted for its layout, which ensures that every block has a clear view of East Coast beach. As far as sea view condos go, this one is quite good. Living room units have floor to ceiling picture windows, which maximise the view. There’s also an underpass with resident-access only; through here, you can get to the beach in under five minutes.

As a bonus, this opens up to the part of East Coast Beach which is around 10 minutes’ walk to the Food Village, and is immediately at one of the BBQ pit areas.

Costa Del Sol, with its two nearby counterparts, have recently drawn attention due to the construction of Bayshore MRT station.

This will alleviate the main problem faced by all three condos, which is the generally inaccessible location; there’s currently no public transport node nearby. The upcoming station, however, is likely priced in if you buy at this point.

One of the other drawbacks is that both neighbouring condos have over 1,000 units, while Costa Del Sol itself is quite large at 906 units. Investors typically don’t like that kind of competition, though home owners won’t find it an issue; the three condos form a quiet niche near the beach.

2. Mandarin Gardens

Address: Siglap Road (District 15)

Developer: Mandarin Gardens Pte. Ltd.

Lease: 99-years from 1982

Completion: 1986

Number of units: 1,006

 

The indicative price range is between $815 to $1,200 psf, with an average of $1,021 psf.

These are the most recent transactions below $1.5 million:

Date	Unit Size	Price PSF	Quantum
Nov 23, 2020	1,001 sq. ft.	$1,109	$1,110,000
Oct 19, 2020	732 sq. ft.	$970	$710,000
Oct 8, 2020	1,001 sq. ft.	$1,129	$1,130,000
Aug  26, 2020	929 sq. ft.	$953	$790,000
Aug 25, 2020	829 sq. ft.	$1,026	$850,000

There have been 532 profitable transactions, and 158 unprofitable transactions so far.

These are the last seen asking prices below $1.5 million:

Date	Unit Size	Price PSF	Quantum
Nov 4, 2020	1,001 sq. ft.	$1,133	$1,133,754
Oct 13, 2020	732 sq. ft..	$1,230	$900,000
Oct 11, 2020	732 sq. ft..	$1,172	$858,000
Oct 8, 2020	732 sq. ft..	$1,268	$928,000
Oct 6, 2020	732 sq. ft..	$1,298	$950,000

Profile:

Mandarin Gardens is best known these days for its failed en-bloc attempt in 2019. At the time, the offer made for the development – $2.927 billion – was the largest on record. However, the residents ultimately failed to get the common consensus .

The high price is due to the sheer size of its land plot; at around one million square feet, this is a throwback to the days when condos were enormous.

While Mandarin Gardens is an old property, it’s not hard to see why there is still interest for it. Almost every stack offers a good view of East Coast beach; and a lot of the condo’s surroundings are characterised by low-density, landed homes.

The entire stretch from Mandarin Gardens down to Marine Parade is quite gentrified, with a lot of well-known cafes, wine bars, etc.

This condo is also just six to seven minutes from Victoria School and Victoria Junior College.

However, Mandarin Gardens isn’t particularly convenient for those who want MRT access; there isn’t any train station within walking distance. And while Mandarin Gardens is well maintained, the façade and facilities are definitely dated.

3. Tanjong Ria

Address: Tanjong Rhu Road (District 15)

Developer: Kingswood Development Pte. Ltd.

Lease: 99-years from 1993

Completion: 1997

Number of units: 168

 

The indicative price range is between $1,115 to $1,255 psf, with an average of $1,193 psf.

These are the most recent transactions below $1.5 million:

Date	Unit Size	Price PSF	Quantum
Nov 6, 2020	614 sq. ft.	$1,239	$760,000
Oct 30, 2020	807 sq. ft.	$1,115	$900,000
Aug 18, 2020	807 sq. ft.	$1,167	$942,000
July 21, 2020	614 sq. ft.	$1,255	$770,000

There have been 114 profitable transactions, and 31 unprofitable transactions so far.

Listings currently have mainly been for larger units, and so there have only been two listings under $1.5 million so far.

Date	Unit Size	Price PSF	Quantum
Nov 5, 2020	614 sq. ft.	$1,303	$800,000
Nov 1, 2020	1,206 sq. ft.	$1,202	$1,450,000

Profile:

Tanjong Ria is a good condo for those who want privacy, and distance from Singapore’s urban crowding.

Besides a good view of the Tanjong Rhu riverside, this condo is also set to benefit from the opening of Tanjong Rhu MRT station. Once it’s complete in 2023, Tanjong Ria will be the closest condo in the area to the MRT.

On a more immediate note, the Singapore Sports Hub – with its attendant Kallang Wave Mall – is just 550 metres from Tanjong Ria (around seven minutes’ walk). This was a much needed change , as prior to the Sports Hub the area was considered underdeveloped.

Tanjong Ria is also just 800 metres (about 10 minutes) walk to Singapore Swimming Club, if you’re a member. Dunman High School is across the road from the club.

That said, Tanjong Ria is getting on in years; and it may still be considered out-of-the-way by some; wait for the MRT station to come up and that may change.

4. Cote D’Azur

Address: Marine Parade Road (District 15)

Developer: Frasers Centrepoint Homes

Lease: 99-years from 2001

Completion: 2004

Number of units: 612

 

The indicative price range is between $1,315 to $1,488 psf, with an average of $1,385 psf.

There were only two transactions this year below $1.5 million:

Date	Unit Size	Price PSF	Quantum
Oct 7, 2020	1,109 sq. ft.	$1,335	$1,480,000
July 14, 2020	840 sq. ft.	$1,358	$1,140,000

However, there were two transactions this year that were exactly at $1.5 million:

Date	Unit Size	Price PSF	Quantum
Oct 8, 2020	1,141 sq. ft.	$1,315	$1,500,000
Aug 28, 2020	1,109 sq. ft.	$1,353	$1,500,000

There have been 84 profitable transactions, and four unprofitable transactions.

The following asking prices below $1.5 million were spotted this year:

Date	Unit Size	Price PSF	Quantum
Nov 3, 2020	914 sq. ft.	$1,411	$1,290,000
Oct 30, 2020	904 sq. ft.	$1,416	$1,280,000
Oct 16, 2020	840 sq. ft.	$1,607	$1,350,000

Profile:

Cote D’Azur is better known to East-siders as “that condo next to Parkway Parade”. Despite having gone under the radar for most of its years, attention has come back thanks to the new Marine Parade MRT station.

Once the new train station opens in 2023 (across from Parkway Parade mall), it will remedy the longstanding accessibility issues of this area.

At that point, Cote D’Azur will have the complete package: it’s next to a major neighbourhood mall, It’s around five minutes-walk to the Katong lifestyle / foodie hub, and it will have MRT access too.

The condo is about 1.3 kilometres from the beach on foot, in case you’re wondering; and you’d emerge at around where the Road Safety Park is located.

While every stack has a view of the sea, units in some of them may have slight obstructions to the view (do drop us a message , and we can give you more details on the better stacks).

You might also want to spend some time and the entryway, and see if the noise is bearable to you. The road outside is quite busy, as the condo is next to a large mall; we have received conflicting opinions on whether the traffic is truly disruptive. If it is, you may want a unit further from the road.

5. Seaside Residences

Address: Siglap Link (District 15)

Developer: East Vue Pte. Ltd.

Lease: 99-year leasehold

Completion: Under Development

Number of units: 841 units

This condo is currently in the final phase of sales (first phase launch was in 2017). As such, we are showing the developer price movement instead:

As of November 2020, the median price was at $1,755 psf, with the lowest recorded price at $1,703 psf. The highest recorded price was $2,099 psf.

As of November 2020, the cumulative take-up rate was 98.5 per cent; this final phase of sales is expected to clear all remaining units.

There have been three transactions this year that were below $1.5 million:

Date	Unit Size	Price PSF	Quantum
Nov 17, 2020	678 sq. ft.	$1,983	$1,345,000
Oct 15, 2020	678 sq. ft.	$2,032	$1,378,000
Oct 4, 2020	592 sq. ft.	$2,035	$1,205,000

These were the last five asking prices at below $1.5 million:

Date	Unit Size	Price PSF	Quantum
Nov 7, 2020	506 sq. ft.	$2,096	$1,060,360
Nov 6, 2020	506 sq. ft.	$2,005	$1,014,620
Nov 4, 2020	592 sq. ft.	$1,742	$1,031,000
Nov 4, 2020	506 sq. ft.	$2,008	$1,015,800
Nov 4, 2020	592 sq. ft.	$2,119	$1,254,210

Profile:

Seaside Residences was launched in 2017, and this is the final sales phase.

This is another East Coast area condo about to have its transport issues remedied by the Thomson-East Coast Line (TEL).

This station, which is expected to open in 2023, will be about 400 metres from Seaside Residences (roughly four to five minutes’ walk). The condo’s estimated TOP date is April 2021 though, so home buyers may have to bear with two years without the MRT.

This condo is also next to Victoria School (less than two minutes’ away); families might appreciate the convenience of this, along with having East Coast Park nearby. The development has four blocks that are 27 storeys high, so the majority of units boast unimpeded sea views.

Overall, there are few drawbacks given the location and low price point (for a seafront condo). Just be aware that there’s no MRT within walking distance as yet.

Besides the right development, a sea view is also about picking the right specific unit

It’s entirely possible that 99 percent of units have great views, but you end up picking one of the few that’s impeded.

This can happen quite unexpectedly – such as if a new condo is built on the empty plot across from your condo. As such, do check the URA Master Plan , to ensure your unit’s facing is not at risk from future residential / office blocks.

Getting the right height is also important – that’s a thick green belt between any condo and East Coast beach, and you want to ensure your unit looks above the treeline.

The loose rule of thumb is to go for any unit from the 10th storey up; but this is just a saying rather than a verified fact.

This article was first published in Stackedhomes.