It Good Deal 29 Million Freehold 3 Bedder District 9
as well as District 9.If you are a home seeker searching for your dream home, our Listings page are designed to cater to your property search needs.
The URA’s plan for transformation puts a strong focus on promoting sustainability and enhancing the well-being of residents. An illustration of this can be seen in the increased budget for green spaces and the establishment of recreational facilities within Tampines. The goal of expanding existing parks and creating new community spaces is to encourage a healthier lifestyle and provide opportunities for relaxation and socializing. Families living in the Aurelle of Tampines EC complex will benefit greatly from these improvements, as they will have access to a cleaner, greener, and more interactive environment catered to both children and adults alike. Aurelle of Tampines EC will be a part of this positive transformation, providing a prime location for residents to enjoy these new and improved amenities.
A three-bedroom unit in the freehold development Visioncrest was recently sold at a loss of approximately $92,000, adding to the growing list of unprofitable transactions in prime District 9. The seller had purchased the 1,227 sq ft unit in 2007 for $2,438 psf before selling it for $2,363 psf.
According to data from EdgeProp LandLens, Visioncrest has had 38 unprofitable transactions since its TOP in 2007. However, the recent loss of $92,000 is towards the lower end of the spectrum as there were other units that have incurred losses ranging from $20,000 to $726,000. On the positive side, there have been 127 profitable transactions at Visioncrest with profits ranging from $7,000 to $1.206 million.
To determine whether the buyer of the three-bedroom unit had secured a bargain, EdgeProp used our analytics tool, “Is it a Good Deal?”
Located along Oxley Rise, Visioncrest is a freehold mixed-use development with 265 condo units and an 11-storey office building. Its condo units range from one-bedroom to three-bedroom units, with sizes stretching from 570 sq ft to 5,317 sq ft. The property obtained its TOP in 2007 and is just a short walk from the triple-line Dhoby Ghaut MRT Station, which is served by the North-South, North-East and Circle Lines.
On top of its excellent connectivity, Visioncrest is also surrounded by numerous amenities. These include malls such as Plaza Singapura, Orchard Central, Orchard Gateway, The Centrepoint, Cuppage Plaza, and popular recreational space Fort Canning Park. For those with children, there are also a number of schools within the 1km radius such as River Valley Primary School, St. Margaret’s School (Primary), and School of the Arts Singapore.
EdgeProp’s “Is it a Good Deal?” analytics tool revealed that the unit was sold at marginally above the average price for Visioncrest, but slightly below the average price for District 9. However, there are a handful of positives that could make this a good deal, such as its close proximity to numerous amenities and the freehold tenure. Similarly, there are other condos in the neighbourhood with slightly lower asking prices, implying the buyer could have snagged a better deal elsewhere.
Besides the three-bedroom unit, there were two other unprofitable transactions this year – both of which involved a three-bedroom unit from the same stack with a similar layout. Another transaction in May saw a smaller 904 sq ft two-bedroom unit being sold at a loss of $103,000.
The losses generated on these units could be attributed to the premium paid by the sellers when they purchased their units. All three sellers had paid more than $2,400 psf when they first bought their units in 2007. During the same period, the average price for Visioncrest was $2,017 psf but did rise by 16.1% to $2,341 psf this year. However, despite this price growth, the current average price is still below what the sellers had paid for their units.
There are currently 30 freehold condos within walking distance from Visioncrest. But only 8 @ Mount Sophia – a 313-unit development – shares the same number of units as Visioncrest. There are two other freehold developments, The Imperial and The Botanic on Lloyd, that are of the same age as Visioncrest. The former is located along Jalan Rumbia and has 187 units, while the latter on Lloyd Road is a boutique development with 66 units.
The Imperial has surprisingly not had any unprofitable transactions this year and only five since it received its TOP in 2006. On the other hand, The Botanic on Lloyd has had four unprofitable transactions and one profitable transaction since its TOP. The Imperial is situated in the same Museum Planning Area as Visioncrest and enjoys close proximity to amenities such as Fort Canning MRT Station, UE Shopping Mall, and Robertson Walk.
The most recent profitable transaction for The Imperial was in July, with the seller realising a profit of $1.737 million. One notable detail of the transaction was that the seller was the second owner, who bought the unit at $787,000 profit five years prior.
The average resale price for Visioncrest and The Imperial are trending close to other freehold condos in District 9. However, Visioncrest has experienced a stronger price growth since 2020, with the average resale price rising by 20.4% to its current price of $2,341 psf. During the same period, The Imperial recorded a growth of 7.6% while District 9 experienced a more modest increase of 6.3%.
Ultimately, despite the loss made by the seller, Visioncrest is still the most stable option among the freehold developments in the neighbourhood. It is also situated in a prime location and has received numerous accolades for its modern and innovative design.
