Updated: Jul 25
Tampines is a town close to my heart, having attended school there at one point in my life. I have witnessed first-hand the tremendous changes in its landscape. Today, Tampines town is a bustling regional hub, packed with malls, office complexes and recreational facilities.
In today’s article, I hope to share with you a ‘hidden treasure’ that some of you may not be aware of! It is a new launch project that is highly sought-after by HDB upgraders and investors alike. It is none other than Treasure At Tampines.
Did you know that more than 100 units in Treasure at Tampines were sold through virtual viewing during the Circuit Breaker period?
While it seems surreal that buyers will be buying big-ticket items without viewing the showflat physically, many are seizing the opportunity to grab the best deals they can find in the new launch market especially now with the low bank interest rate.
The figures are increasing as I type! Infact, Treasure at Tampines remains the Champion Top selling project in the month of June! So, what exactly makes Treasure At Tampines so desirable?
Let’s take a closer look and find out why Treasure at Tampines has stolen the hearts of so many HDB upgraders and investors.
1. Scarcity Of Private Condos in Tampines
The popularity of new condominiums in Tampines has seen an exponential growth over the last decade ever since Waterview (along Tampines Avenue 1) was first launched in November 2010. Since then, a few more condominiums have been launched along that same stretch, starting with Q Bay Residences, The Santorini, Alps Residences, and The Tapestry.
These projects were well-received and most of them have already been snapped up by buyers. Property developer Sim Lian Group distinctly saw this strong demand and the scarcity of new units available for sale.
Furthermore, none of the earlier private condos was close to an MRT station or near amenities. The overwhelming response was a message to developers, causing them to realise that there will be a huge demand for the site of Treasure At Tampines which is just next to Tampines Round Market.
This was because there were no other condos built in that vicinity which could cater to the population of HDB upgraders.
As Tampines is a matured heartland estate, there are lots of HDB dwellers that have been living in their home for decades and wish to upgrade into a private property, but do not wish to leave their neighbourhood.
When they saw Treasure At Tampines being launched, they immediately jumped at the chance. This could also be the reason why the developer was confident enough to build 2203 units of different unit mix to cater for HDB upgraders as well as investors.
2. Reputable Developer
Sim Lian Group has been reputed for its outstanding track records in developing and constructing quality homes for more than 40 years.
Sim Lian Group is both the developer and construction contractor for Treasure at Tampines. This allowed them to ensure a consistently high standard of construction work and maximum control over the project development without paying a higher premium.
Sim Lian has also channelled this cost savings directly to the buyer by pricing it low. With the right entry price, buyers will be able to exit when the need arises later. They will not be stuck with a property that cannot be efficiently sold off.
3. Low Entry Price
Comparing all available new launches, Treasure at Tampines is priced competitively and is the most affordable amongst other new launches. This provided a chance for HDB owners to upgrade their homes and avid investors to enter the market at the most affordable entry price.
The site where Treasure At Tampines resides is purchased at one of the lowest prices among private residential plots. This site is bought by Sim Lian Group at a price of $665 psf ppr. This is only about $90 psf ppr higher than an upcoming Executive Condominium site along Tampines Ave 10, which is acquired at $576 psf ppr.
As such, this land cost is very close to that of an Executive Condominium site, which is subsidised by the government.
Comparing with another new launch, the selling price of Treasure At Tampines is starting at only $1107 psf. This pricing is very close to an Executive Condominium unit at OLA, selling at $1092 psf.
Moreover, the latest completed development - My Manhatten, which is also near the Simei MRT station has already hit a market price of $1528 psf (in August 2018), for a low floor unit of 441 sf unit. However, the smaller unit of Treasure At Tampines is only going at about $1400 psf for the highest floor.
What's more? The price of Treasure At Tampines is marginally close to an Executive Condominium, yet it does not entail the restrictions of an Executive Condominium.
Hence, investors are able to rent out their units upon collection of keys, without having to wait for a 5-year Minimum Occupation Period (MOP).
In addition, it can also be sold at anytime when the desired capital appreciation is achieved.
With this attractive low entry price, the possibility of its value falling is very unlikely. This paired with all the other factors gives Treasure At Tampines a high chance of appreciation, which is an important factor to consider when buying a property. Hence, it doesn’t just make for a great stay but also functions as a key investment item.
What’s better than living in a dream home is when the dream home is also a gold mine.
4. Extremely Spacious and Functional Layout
Many buyers lament about the small unit size of new launch condos, which could be off-putting to HDB upgraders although they might actually desire to. But Treasure at Tampines offers spacious units up to 1722 sqft!
This is a rare find given that space is limited in Singapore nowadays and a lot of homes are compact. It is very feasible even for 3 generations to stay together, which is great as it promotes family bonding and increased interactions among the family unit.
This could also help to save money as the parents can leave their children in the care of their grandparents, they no longer need to hire a caregiver or place them in a daycare centre while they are at work.
On a bigger scale, instead of staying in two separate, smaller houses which might total up to be even more expensive, it is more financially savvy to live together in the same house which is just slightly larger. There are lots of hidden costs that are saved as well this way.
A 5-Bedroom unit starts from $1,880,000 ($1092 psf)
Even the common bedrooms in a 1722 sf 5-bedroom unit have at least an area of 10 sqm, which is equivalent to a master bedroom size of other condominiums.
Click for virtual tour: http://client.audax.com.sg/treasure/5bed/
For other layouts visit: https://api.singmap.com/app-service/u/OrangeTee&Tie/I3UBVf
5. Uncompromised Lifestyle
With a significant number of 2203 units in Treasure at Tampines, the developer aims to provide a wholesome lifestyle through an increased number of function rooms and pools. Where else can you find 11 pools and water facilities along with 9 function rooms within a development?
Not forgetting a 24-hour gym boasting a whopping 240 sqm of workout space and exercise equipment. Well, only at Treasure of course! Kudos to the developers for thinking it through-- with 2203 units worth of residents, just the bare minimum of facilities wouldn’t suffice.
To prevent overcrowding or lack, they have decided to supplement the demand by offering a larger selection. Hence, Treasure at Tampines provides a total of 128 facilities.
Some of the facilities in Treasure At Tampines are so unique they cannot be found in other Condo Developments.
These are suitable for every member of the family, making sure to cater to children as well as the elderly. For children, they will be overjoyed to know that Treasure also offers a kids slide pool, water cannon, and mist jet play.
This is something they usually get to play with when they go to water theme parks but as a resident at Treasure, they have the luxury to enjoy this right in their home. Let’s not forget the trampoline courtyard which is unheard of in any other establishment. When the kids are happy, their parents are happy too!
Check out other facilities in the video below! Honestly, I am smitten by what Treasure at Tampines can offer.
6. Low Maintenance Fees
Despite all these interesting facilities, the maintenance fee for Treasure at Tampines ranges from only $150/mth for a 1 Bedroom to $264/mth for a 5 bedroom unit. This includes a carpark lot, which already costs $120 for HDB owners who do not get to enjoy such facilities.
One of the gripes most condo owners have about owning a private property is the hefty maintenance fees. Fortunately, Treasure at Tampines keeps its maintenance fees affordable in contrast to its wide range of features, which makes it extremely value for money. HDB upgraders will find this very reasonable.
7. Close Proximity To Good Schools
Whether it is at the primary level, secondary, tertiary and even international schools, children can attend education within close proximity to home. Nowadays, the syllabus can be very demanding and students get very stressed out, all the more when their schools are located far away from their homes and they take a long time to travel there.
Living right in the vicinity of their institutions saves them a lot of time and energy that might allow them to sleep and recuperate for longer hours. This is very good for their mental state which adds to improved performance in class. The following are the nearby schools.
8. Convenience Of A Matured Estate
Tampines has begun developing as a housing estate more than 2 decades ago. The result is being full of amenities ranging from but not limited to food, groceries, malls, entertainment, transport options, services, clinics and recreational spots.
Treasure at Tampines enjoys having the round market at its doorstep, thus its residents will have no lack of food and market. Shopping Malls such as Tampines Mall, Century Square, Tampines One and Tampines Hub are all in the immediate area.
For those who might enjoy exercising and working out, the nearby Tampines Sports Hub efficiently caters to that. This is something HDB upgraders will be thankful for as they can continue relishing what their estate has to offer. With all that said, it’s near to Jewel at Changi too, which is connected to our famous Changi Airport.
9. Well Connected By Expressways And MRT Lines
The proximity to the Simei & Tampines MRT station is really a big plus point in my opinion. Although it’s not exactly right in front of the condo, at least it’s still within reasonable walking. For the location, I would say the price definitely justifies.
It is only an 8 minutes walk away from Simei MRT Station, which helps commuters quickly reach various parts of Singapore. Apart from that, the developer even provides One year of free shuttle bus service to Tampines MRT station as well as to Jewel at Changi. It is also close to major expressways such as PIE, TPE that leads to various parts of Singapore.
If other options are preferred, the bus interchange which marks the start and beginning of many bus routes is also positioned right next to the Tampines MRT Station, leaving commuters spoilt for choice!
10. Good Rentability
Even if you might want to rent out the unit in future, the catchment for tenants is big. On top of being in a great location that is conveniently accessible to many amenities, Treasure at Tampines will also draw tenants from developments such as Changi Airport, Jewel at Changi, Changi Business Park, Loyang Industrial Park and Pasir Ris Wafer Fab Park
Evidently, these areas that are near to Tampines, would be self-sufficient with source of tenant pools without having to hunt from elsewhere.
With all these 10 amazing qualities, it’s no wonder that units at Treasure at Tampines are not only highly sought after by HDB upgraders but also First-time buyers and Investors too. For homeowners, Treasure at Tampines is a realistic consideration for HDB upgraders due to its low entry price. With the Tampines South Flyover in close proximity which links to the PIE and MRT stations within walking distance, it is extremely convenient.
On the other hand, investors who aspire to lease out the unit, its great location will attract a diverse tenant pool. It is also not located among the competitive condominium estates in the Tampines Avenue 10 area. Also, its wide range of facilities and low maintenance fees are a draw since the cost is low for landlords and homeowners.
Given its attractive price point compared to other new launches in the market, and its location within a mature estate, Treasure at Tampines has indeed received a wider coverage of buyers.
If you plan to make your next home in Treasure At Tampines, check out the this website
https://api.singmap.com/app-service/u/OrangeTee&Tie/I3UBVf or contact me for an exclusive viewing of the Show gallery.
About The Author
My passion for Real Estate sparked at a very young age. At 14, I would tail along with my parents as they went for home viewings, and get involved with the necessary matters whenever they shifted homes.
Later on, I was appointed as their power attorney who solely oversaw the sale and purchase of my family’s properties.
From my personal experience in engaging agents, I deeply understand how important integrity is in this business.
As properties are big-ticket items, their dealings should not be taken lightly. To offer the best advice, I always strive to put myself in the shoes of my clients such that I can help them make informed decisions which support their goals.
My mission is to add value and make a positive impact on the lives of my clients through sound investments and intelligent strategising. Let's connect at 97642556 to discuss on your goals.