Elta Condo Review & Investment Analysis: Urban Living In Clementi

Why Invest in Elta Condo

• Reputable Developers: Jointly developed by MCL Land and CSC Land Group, ensuring top-notch construction quality and innovative design.
• Comprehensive Facilities: Equipped with modern amenities like a swimming pool, gymnasium, and landscaped gardens to promote a balanced lifestyle.
• Convenient Location: Located about a 10-minute walk from the Clementi MRT Station (East-West Line) and Bus Interchange, providing excellent connectivity for daily commuting. The Clementi MRT station will become an interchange when Phase 2 of the Cross Island Line is completed in 2032,
• Convenient Access to Nature: Proximity to green spaces such as Clementi Forest, Maju Forest, Dover Forest, West Coast Park, Sungei and Pandan Reservoir
• Proximity to Shopping and Dining: Near Clementi Mall, Grantral Mall, 321 Clementi, and Clementi Food Centre, offering diverse retail and dining options.
• Access to Quality Education: situated near top schools such as NUS High School of Maths and Science, Nan Hua High School, National University of Singapore, and many highly sought-after education institutions, making it an ideal home for families.
• Near Major Business Parks: Proximity to one-north, Science Park, and International Business Park at Jurong Lake District enhances its investment potential.

Who are the Developers of Elta Condo?

MCL Land, a member of the Jardine Matheson Group, is a leading residential developer with a legacy of building quality developments in Singapore and Malaysia. Known for its focus on quality construction, timely project delivery, and customer satisfaction, MCL Land has a strong track record of creating high-quality residential and commercial developments.

Some of its residential projects in Singapore include Nava Grove, Tembusu Grand, and Piccadilly Grand.

CSC Land Group is a dynamic and emerging real estate developer based in Singapore, known for its innovative approach to property development. A subsidiary of China State Construction Engineering Corporation (CSCEC), it is one of the largest construction and real estate conglomerates in the world. CSC Land Group brings a wealth of experience and reliability to its projects.

In Singapore, the projects it was involved in include Twin View, Verdale, and Parc Greenwich EC.

What are the Prices for Elta Condo?

The prices for Elta Condo are not available yet. But, based on its land cost and recent new launches in RCR (Rest of Central Region), it is estimated to be launched at an average price of $2,400 to $2,500 psf.

During the government land sale (GLS) on 7 November 2023, the consortium comprising CSC Land Group and MCL Land outbid five other developers. By submitting a top bid of $633.45 million for 178,066 sq ft 99-year leasehold site, this works out to a land cost of $1,250 psf per plot ratio (psf ppr).

Where is Elta Located?

Elta Condo is situated at Clementi Avenue 1, sandwiched between the Clementi Canopy and Clavon condos. They were fully sold since being launched in 2017 and 2020, respectively, attesting to the area's popularity despite being next to the Ayer Rajah Expressway (AYE).

Two highly regarded schools located a stone’s throw from the development are Nan Hua High School and NUS High School of Math and Science. Many other popular schools and educational institutions can also be found in the district, making it a de facto education hub.

The proximity to educational institutions will appeal to families seeking quality schooling options for their children.

The Clementi MRT station, bus interchange, Clementi Mall, Grantral Mall, and 321 Clementi are about a 10-minute walk from the development.

In addition, it is conveniently located between one-north, aka Singapore’s Silicon Valley, and Jurong Lake District, which is developing into Singapore’s largest business district outside the city. Being 1-2 MRT stations away, these two major business hubs will enhance Elta’s investment potential.

Elta's Transport Connectivity

Clementi Mall and MRT Station.

Residents of Elta Condo will benefit from excellent transport connectivity. The development is roughly a 10-minute walk from the Clementi MRT Station on the East-West Line, providing direct access to key destinations across Singapore, including the Central Business District.

It is also linked to the Clementi Mall and bus interchange next to it.

By 2032 when Phase 2 of the Cross Island Line is completed, Clementi will become an MRT interchange, further enhancing its connectivity to many parts of the island.

The Clementi Bus Interchange offers numerous bus services, providing many transport options to Elta residents.

For drivers, the proximity to major expressways such as the AYE and PIE ensures efficient routes to the city centre and other parts of the island.

This comprehensive transport network ensures that residents can travel around Singapore efficiently, whether by train, bus, or car.

Parks and Recreational Amenities Near Elta Condo

Elta Condo enjoys convenient access to several parks and recreational amenities that enhance the quality of life for its residents. These include Clementi Woods Park, West Coast Park, and Sungei Ulu Pandan, providing lush landscapes perfect for outdoor activities like jogging or picnicking.

Meanwhile, the Ulu Pandan Park Connector provides a scenic route for cycling and walking, connecting residents to other parts of Singapore's park connector network.

For sports enthusiasts, the nearby Clementi Sports Hall and Swimming Complex offer facilities for various sports and fitness activities, promoting a healthy and active lifestyle among residents.

Shopping Malls Near Elta

Residents of Elta Condo will benefit from an abundance of amenities located within close proximity. The nearby Clementi Mall, Grantral Mall, and 321 Clementi offer a wide range of retail shops, dining options, and entertainment facilities that cater to diverse daily needs and lifestyle pursuits.

Besides these, the other nearby shopping destinations include Star Vista, West Coast Mall, and Holland Village. All of them are only a short drive from the development.

Clementi also boasts a wet market and hawker centre, providing convenient access to fresh produce and local delicacies. Healthcare facilities, including clinics and dental centres, are also readily available in the vicinity, ensuring residents have access to essential medical services.

Additionally, the Clementi community centre and library are within easy access, offering opportunities for recreational activities and educational needs, which further enhance the quality of life of residents.

Schools and Educational Institutions Nearby

Clementi and its nearby areas, such as Buona Vista, West Coast Road, and Dover Road, have established themselves as an education hub due to the rich concentration of schools and respected educational institutions.

This wide choices can contribute to a better quality of living as less time will be spent travelling. Moreover, properties near good schools command a price premium, according to a study by the NUS Institute of Real Estate Studies.

For families looking to enrol their children in Primary 1, many schools are located within a 1-2km radius. This will offer them priority admission due to the Education Ministry’s distance-based allocation system. These schools include the following:

International Schools Near Elta

In addition, many international schools offering a diverse curriculum can be found near Elta. These include:

• Dover Court International School
• United World College of South East Asia
• Tanglin Trust School
• Anglo-Chinese School (International)
• The Japanese School
• Waseda Shibuya Senior High School

Properties located near these schools are highly coveted by expatriate families, resulting in strong rental demand and higher yields. Such tenant profiles associated with international school communities can enhance the neighbourhood’s appeal and its long-term investment potential.

Proximity to Major Employment Hubs

Elta's strategic proximity to major employment hubs such as one-north, Singapore Science Park, and Jurong Lake District presents a strong investment opportunity.

This will attract rental demand from professionals working in these areas, translating into stable rental income and potential for capital appreciation.

In addition, Elta’s excellent connectivity via direct MRT lines to the Central Business District and Downtown Singapore potentially opens it up to a larger tenant pool of professionals, further boosting its investment appeal.

Review Conclusion & Investment Analysis

While the Clementi MRT station is not that near Elta – about a 10-minute walk – and is located next to the Ayer Rajah Expressway (AYE), there are mitigating factors that attract homebuyers and property investors. This can be seen from the strong demand for The Clement Canopy and Clavon, located next to Elta.

Since their respective launch in 2017 and 2020, both were fully sold. The attractions to these two projects can be attributed to the following:

• A Mature Estate: Established amenities like schools, shopping, food centres, and parks provide a convenient and comfortable lifestyle.
• Green Living: Easy access to numerous parks and green spaces offers a plethora of outdoor recreation options.
• Good Connectivity: Although not very near the Clementi MRT station, access to public buses is easily available.
• Education Hub: The concentration of reputable schools and tertiary institutions is attractive to families, which helps to boost housing and rental demand.
• Major Employment Centres: Proximity to one-north, Singapore Science Park, and Jurong Lake District, as well as direct access to the Central Business District (CBD) will help to boost property values.

Comparative Market Analysis

The following is a comparative market analysis of the average per-square-foot (psf) price performance for four condominium projects in Clementi. By examining their trajectories since their launch, we can glean valuable insights into Elta's investment potential.

The four condos are:

Comparative Market Analysis: % of Average Price Gain (psf)

From the above chart, it can be seen that all the projects have appreciated quite significantly, except for The Trilinq. However, the latter's "underperformance" can be attributed to the slew of property cooling measures imposed by the Singapore government in 2013. These include a hike in ABSD and tighter loan limits that dampened market sentiment till early 2017 before a recovery was seen.

Rental Yield

Next, let's examine the rental yields of the four condos mentioned above, plus another four more nearby in District 5, for a more comprehensive perspective.