In 2018, Katong Park Towers was sold to Singapore-listed developers Bukit Sembawang Estates. An exclusive new condo will be built in its place.
Located at a posh area in the east, the new condo at Arthur Road is certainly a launch to look out for in 2020.
Katong is widely known to be a residential haven. Considered the most premium location in eastern Singapore, future residents of the new condo at Arthur Road can look forward to an idyllic and high quality lifestyle.
The new condo at Arthur Road, former site of Katong Park Towers, is only 200m away from Katong Park MRT which will start operations in 2023. Walking distance to an MRT station is definitely a key factor of this new condo’s considerable draw.
PIE, KPE and ECP are the major expressways that will serve future residents of the new condo at Arthur Road.
Many top schools are also within a 2km radius. They include Tanjong Katong Primary School, Kong Hwa School, Chung Cheng High (Main), Dunman High School, Northlight School, Tanjong Katong Girls’ School, Victoria Secondary School and Victoria Junior College.
Amenities-wise, not many new launches can beat the many bars, restaurants, shopping malls and cafes in the area.
Notable attractions like Parkway Parade, Katong I12, Roxy Square and Leisure Park Kallang can be reached within a 5-minute drive.
Katong is also home to many famous eateries such as Katong Laksa, Alibabar Hawker, Sin Heng Bak Kut Teh and the newly-revamped Marine Parade Hawker Centre.
Fans of the outdoors can pop by East Coast Park to enjoy the cool sea breeze and greenery. Perfect for an enjoyable day out with the family!
Overall, residents of the new condo at Arthur Road can look forward to many relaxing nights and weekends at one of Singapore’s most desirable chill out areas.
With the development of key areas in the east, such as Paya Lebar and Changi, into commercial hubs, an opportunity to secure long-term tenants is an attractive option for investors.
Currently, due to its close proximity to town and CBD, Katong properties are already popular rental options for tenants. This demand is set to increase with major commercial areas being set up in the east.
Former Katong Park Towers Project Summary
|Condo name||To be announced|
|Tenure||99 year leasehold|
|Total number of units||To be announced|
|Address||114A Arthur Road 439826|
|Nearest MRT||Katong Park MRT (200m away)|
|Facilities||Full Condo Facilities Including Swimming Pool, BBQ Pits, Gym, Function Rooms Etc|
|TOP Date||To Be Announced|
Former Katong Park Towers Location
Located just 200m away from Katong Park MRT, which will start operations in 2023, the new condo at Arthur Road is strategically-placed to offer residents extreme ease of travel.
Further enhancing its convenience factor are nearby expressways like PIE, KPE and ECP. Drivers can reach key locations like town and CBD in just 10-15 minutes.
Former Katong Park Towers floorplans
To be announced
Schools near to the new condo at Arthur Road include Tanjong Katong Primary School, Kong Hwa School, Chung Cheng High (Main), Dunman High School, Northlight School, Tanjong Katong Girls’ School, Victoria Secondary School and Victoria Junior College.
Future residents will be spoilt for choice in terms of entertainment, food and shopping options. Notable attractions like Parkway Parade, Katong I12, Roxy Square and Leisure Park Kallang have plenty of food courts, restaurants, cafes and supermarkets to satisfy every resident.
Famous eateries such as Katong Laksa, Alibabar Hawker, Sin Heng Bak Kut Teh and the newly-revamped Marine Parade Hawker Centre are also close by.
For a change in environment, head down to East Coast Park for a fun day out with the family.
The new condo at Arthur Road truly offers something for everyone!
Comparative Market Analysis
Outside of the city area, not many locations can beat the pricing of a condo in District 15. This is because of the quality lifestyle it can offer to residents.
Not to mention its close distance to town and CBD. Although technically considered part of Eastern Singapore, District 15 can also be viewed as a city fringe area. Both public and private transport can take you to the city in just minutes.
All these factors contribute to the consistently high prices of District 15 condos. With several enhancements like new MRT stations, commercial hubs and entertainment outlets being developed, prices are set to rise even further within the next few years.
This means that residents of the new condo at Arthur Road can capitalize on this pricing trend by securing a unit as soon as it’s launched.
Prices may be higher, but the value it can provide is exponential as well.
Capital Gains Overview
As the table above illustrates, capital gain figures for District 15 properties have been astronomical.
District 15 today is already considered a desirable place to live in. With further developments (mentioned above) of the area in store, property values have soared.
Based on conservative estimates, this growth is set to peak within the next 3-5 years. Which means that the new condo at Arthur Road presents a unique opportunity for early buyers to make a tidy profit when the project reaches its Temporary Occupation Permit (TOP) in a few years’ time.
For the many tenants looking for a more chill-out lifestyle, yet still remain close to the city, District 15 is often their preferred choice. The Katong area is currently connected via buses to town, and once the Thomson East-Coast line is up, residents in the area will only be a mere 20 minute MRT ride to Marina Bay and Orchard.
This is shown by rental yield figures of other properties in the area. Landlords are consistently enjoying a steady supply of tenants.
This rental demand for District 15 properties is likely to increase, following the development of east side commercial hubs in Paya Lebar and Changi.
For owners of a unit at the new condo at Arthur Road, purchasing for investment purposes is a potential avenue for long-term rental income.