5 family-sized new launch units under $1.3m if you need space but are on a budget

When it comes to new launches, finding a total price of under $1.3 million is easy enough; but it often comes at the cost of living space. Most of the time, you’d end up with a squeezy 1+1 or two-bedder unit, and no room to raise a family in.

As such, we’ve combed through the list of new launches, to find some family sized condos that can still fit the budget.

The bad news, for non-citizens, is that all of these except The Jovell are ECs. The following have all seen 1,000 to 1,250 sq. ft. units transacted at below $1.3 million.

• Ola (EC)
• Florence Residences (EC)
• The Jovell
• Parc Central Residences (EC)
• Provence Residence EC (based on recent asking prices)

1. Ola (Executive Condominium)

Location: Anchorvale Crescent (District 19)

Developer: Eva Real Estate, Garuda Land

Lease: 99-years

TOP: 2024

Number of units: 548

The average price for a 1,000 – 1,250 sq. ft. unit, as of end-April, was $1,259,122. This is roughly $1,193 psf.

The past five transactions, under $1.3 million, are as follows:

Key highlights:

We have a full review of Ola on Stacked.

There are two main selling points to Ola:

First, this is very much a family / lifestyle-oriented condo. Buying a unit comes with 500 hours of free activities, from Zumba to Yoga classes. Children between six to 16 even get a full year of football classes from the Real Madrid Football School.

There’s also a two-year waiver on medical consultation fees, from the telehealth booths (you can talk to the doctor via remote, and get a prescription printed on the spot. Pretty handy in these times of Covid-19, when you don’t want to hang out with coughing people in waiting rooms).

Coupled with over 11 schools within one kilometre, and Sengkang General Hospital nearby, you can see the developer really capitalised on the family angle.

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Second, the Ola compared quite well in terms of price, with surrounding options (see our full review for details). If you’re a first-time home buyer, an overall quantum below $1.3 million; or in some cases below $1.2 million, puts this EC at the sweet spot.

That said, Ola has the same drawback associated with many ECs: it’s quite far from the train station – Sengkang MRT is 14-minutes on foot, which most buyers would consider too far too be called convenient.

And while the condo itself is loaded with recreational facilities, the immediate surroundings don’t offer much for dining or retail.

Having Sengkang General Hospital nearby can also be either a pro or a con. Some buyers don’t like having hospitals nearby (due to ambulance sirens or taboos); but those who need healthcare, or want to rent to hospital workers*, will find it a boon.

*But remember that you can’t rent out the whole EC unit during the five-year MOP.

Unlike some three bedroom units where you might see a long entranceway, the entrance for this layout opens right into the living area. There’s a store room at the back of the kitchen (which can double up as a utility or helper’s room), but there is sadly no yard area.

The AC ledge is located behind the bathrooms, so both the master bedroom and bedroom two will enjoy proper windows. Interestingly as well, bedroom three will share the balcony space with the living room.

2. Parc Canberra (Executive Condominium)

There are very few listings still available for Parc Canberra, but we included it because it matches the price point, and there are still some offers. If you can’t get a unit here, Provence Residence provides an alternative (see below).

Location: Canberra Walk (District 27)

Developer: Hoi Hup Sunway Canberra Pte Ltd

Lease: 99-years

TOP: 2023

Number of units: 496

The average price for a 1,000 – 1,250 sq. ft. unit, as of end-April, was $1,144,000. This is roughly $1,143 psf.

The past five transactions, under $1.3 million, are as follows:

Date	Unit Size	Price PSF (Approximate)	Price
01/02/2021	1,001 sq. ft.	$1,142.86	$1.144 million
24/01/2021	1,001 sq. ft.	$1,113.89	$1.115 million
06/01/2021	1,001 sq. ft.	$1,146.85	$1.148 million
24/12/2020	1,001 sq. ft.	$1,164.84	$1.166 million
20/12/2021	1,001 sq. ft.	$1,134.87	$1.386 million

Key highlights:

The last few units in Parc Canberra, as well as a few unusual returned units (sometimes buyers get permission to dispose of their ECs before MOP), are still up for grabs. No promises are possible, but drop us a message and we may be able to help you find one.

Parc Canberra is one of the rare ECs that’s located within walking distance of an MRT station. It’s about a five-minute walk to Canberra MRT, which is just 330 metres away.

Another highlight is close proximity to Bukit Canberra – it’s only a four-minute drive to this community + sports hub, which is one of the biggest built to date.

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This is a 12-hectare space that includes dining, retail, sports facilities, community gardens, senior care centres, and more. This is more or less the hub of the entire neighbourhood.

Parc Canberra is in a frankly “ulu” location, with a lot more development needed; the pricing reflects this. However, proximity to the MRT station and Bukit Canberra mitigate the drawbacks; and home buyers focused on the long term can get a value buy here (anyway, you’ll have to wait five years, or past the 10th year, for this EC to be up for resale / go fully private.

By then the area will be much more built up).

For new home buyers, unit of this size, near the MRT station, are a difficult find at $1.3 million. There aren’t many alternatives, unless you’re happy to consider older resale condos.

This three bedroom unit at Parc Canberra is quite similar to the one at Ola, with the entrance way opening up to the living and dining. The kitchen has an L-shaped counter, and there is a little yard space for the washer and dryer before the utility area.

The balcony here opens up from bedroom 3 as well, but that odd shape of the balcony isn’t the most usable.

3. The Jovell

Location: Flora Drive (District 17)

Developer: Hong Leong Holdings, CDL

Lease: 99-years

TOP: 2020

Number of units: 429

The average price for a 1,000 – 1,250 sq. ft. unit, as of end-April, was $1,268,100. This is roughly $1,228 psf.

The past five transactions, under $1.3 million, are as follows:

Date	Unit Size	Price PSF (Approximate)	Price
22/03/2021	1,033 sq. ft.	$1,243	$1.284 million
05/03/2021	1,033 sq. ft.	$1,212	$1.252 million
05/03/2021	1,033 sq. ft.	$1,146.85	$1.148 million
10/02/2021	1,033 sq. ft.	$1,205	$1.245 million
26/1/2021	1,033 sq. ft.	$1,212	$1.252 million

Key highlights:

We have a full review of The Jovell on Stacked.

The Jovell is a little left-of-field, as a choice for home owners. From The Jovell, it’s only a five to six-minute drive to Changi Airport; coupled with a large number of one and two-bedders, it’s apparent that this is for landlords wanting to rent to aviation workers.

However, there are good reasons why a home buyer might be interested in The Jovell’s larger units. For starters, Changi Airport is not just for catching a plane; it’s a major retail and dining hub in its own right. The Jovell is only an eight-minute drive to the Changi Jewel.

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This is the same driving distance to Changi City Point; this is a commercial hub which includes a good amount of office space, food, and retail. Anyone working in this area might find The Jovell to be a convenient home.

On a more generic level, Changi Village, with its famous eateries and beachfront, are only an 11-minute drive away. All in, home buyers who want to avoid Singapore’s bustle and crowds may find The Jovell a suitable home.

Just make sure you’re ready to drive however, as The Jovell is quite inaccessible by public transport.

The Jovell has quite an interesting layout, although some might say there’s wasted space due to the longer entrance way. The kitchen is on the small side, but you do have a dedicated yard which can open up into the utility (which is also accessible from the main hallway).

Also unlike typical layouts where the master bedroom is located at the end, the master bedroom here is instead the first bedroom on your left. While some might feel that it is less private, you do have the benefit of your own private balcony.

4. Parc Central Residences

Location: Tampines Street 86 (District 18)

Developer: Hoi Hup Realty, Sunway Group

Lease: 99-years

TOP: 2024

Number of units: 700

The average price for a 1,000 – 1,250 sq. ft. unit, as of end-April, was $1,215,817. This is roughly $1,169 psf.

The past five transactions, under $1.3 million, are as follows:

Date	Unit Size	Price PSF (Approximate)	Price
23/02/2021	1,066 sq. ft.	$1,020.64	$1.088 million
23/02/2021	1,152 sq. ft.	$1,001.74	$1.154 million
23/02/2021	1,022 sq. ft.	$1,156.56	$1.182 million
23/02/2021	1,055 sq. ft.	$1,140.28	$1.203 million
23/02/2021	1,022 sq. ft.	$1,153.55	$1.217 million

Key highlights:

For 2020 / 21, Treasure at Tampines has dominated District 18 in terms of affordable housing; and this has caused Parc Central Residences to slip under the radar.

But first-time home buyers should note that, with regard to 1,000 to 1,250 sq. ft. units, Parc Central Residences is more affordable. As a point of comparison, the 1,012 to 1,033 sq. ft. units in Treasure at Tampines range between $1.374 million and $1.488 million respectively.

Parc Central Residences isn’t close to the MRT, as you’d expect from an EC. But it’s only a six-minute drive to the heart of Tampines, where you’d find Tampines Mall, Century Square, and Tampines 1 (as well as many nearby office buildings).

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Overall, it’s still quite convenient for home buyers who work there, or who want to be within the regional centre of the east.

As a matter of comparison, note that driving distances from Treasure at Tampines would be almost similar.

Coupled with having four schools in a one-kilometre radius (Poi Ching, Junyuan Secondary, Springfield Secondary, and St. Hilda’s Secondary), Parc Central Residences has probably been underrated by the market.

The layout at Parc Central Residences is a very regular one, with a small foyer area that opens up to the living and dining area. There is also a small yard space, that leads to the bomb shelter which can double up as a store or helper’s room.

5. Provence Residence (Executive Condominium)

Location: Sembawang Road (District 27)

Developer: MCC Land

Lease: 99-years

TOP: 2026

Number of units: 413

As there are no transaction records yet (launch was just yesterday), we have listed some of the recently seen asking prices.

Block	Unit Size	Unit Price PSF (Approxtimate)	Total Asking Price
35 Canberra Crescent	1,066 sq. ft.	$1,096 psf	$1.168 million
35 Canberra Crescent	1,066 sq. ft.	$1,099 psf	$1.172 million
23 Canberra Crescent	1,066 sq. ft.	$1,099 psf	$1.172 million
31 Canberra Crescent	1,044 sq. ft.	$958	$1 million
23 Canberra Crescent	1,249 sq. ft.	$1,032 psf	$1.288 million

Note that asking prices may change, and may not be consistent with the above in later sales figures. We will update the above as and when real transactions become available, so do follow us on Stacked.

Key highlights:

Buyers who can’t get a Parc Canberra unit (see above) could consider Provence Residence instead. These two developments are only 300 metres, or a four-minute walk, from each other.

As such, the benefits and drawbacks of location are comparable: you get walking distance to Canberra MRT, and you’re just a short drive from Bukit Canberra. The area is still underdeveloped; but given that you’re waiting for the MOP and full privatisation (after the 10th year), things will be more built up by then.

In terms of pricing, the two are so closely matched it’s impossible to claim better value.

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Provence Residence does have the advantage of being smaller than Parc Canberra (just 413 units), thus providing a little more exclusivity; but we’ll have to see if this also means higher maintenance fees. Beyond this, it will boil down to facilities when picking between the two.

There are some things too, that Provence Residence has tried to stand out from its competition. For one (as I’m sure you can tell by its name), it’s French themed, and the overall look is quite a classy upmarket one.

It is also the first EC to offer dumbbell layouts, and most of the layouts that you’ll see are quite squarish, efficient layouts with little wasted space. That said, none of the unit choices here (even the larger ones) offer an open yard space – which may be an issue for some families.

The bigger three bedroom unit at Provence Residence has quite a different layout as well. It opens up straight with a view of the kitchen, which is quite a long one with countertop space on both sides.

As mentioned above, while there is a yard space, it isn’t an open one. On the other hand, the dining space available is pretty decent.

Overall, Parc Canberra and Provence Residence are both well-supported by upcoming developments, and ECs near MRTs are rare gems. If you need a place sooner, try to get a unit at Parc Canberra while some listings remain.

If you can’t get one at Parc Canberra, or you dislike having last pick of units, then look toward Provence Residence instead.

This article was first published in Stackedhomes.