Chuan Park Condo Review: 10 Key Reasons to Call It Home

10 Reasons to Invest in Chuan Park Condo

1.  An iconic development: With a huge large land size of 400,588 sq ft, Chuan Park is poised to become an iconic landmark in the area, setting a new standard for residential living.

2.  Well-known developers: Kingsford Huray Development and MCC Land (Singapore.) are recipients of many industry awards and have developed many projects in Singapore such as Kingsford Waterbay, Normanton Park, and Landmark, to name a few.

3.  Pent-up Demand: The absence of new launches in the immediate vicinity since The Scala in 2010 will attract pent-up demand, making Chuan Park a highly sought-after development.

4.  Elevated Living Experience: The large site area promises abundant landscaping and water features, creating a luxurious living environment.

5.  Excellent Transport Connectivity: Strategically located next to the Lorong Chuan MRT station on the Circle Line, Chuan Park offers residents convenient commuting options.

6.  Near Expressway: A short drive to Central Expressway (CTE) provides direct access to the city for residents owning private transport.

7.  Amenities Galore: Residents have access to a wide range of amenities, with the Nex shopping mall and Junction 8 just one train station away, catering to all their shopping, dining, and entertainment needs.

8.  Family-Friendly Location: The condominium's proximity to numerous reputable schools makes it an ideal choice for families seeking a nurturing environment for their children's education and growth.

9.  Outdoor Recreation: Nearby nature parks provide residents with outdoor recreational activities, promoting a healthy and active lifestyle.

10. Investment Potential: Proximity to business parks spurs demand for housing in the area, contributing to the development’s investment potential.

Chuan Park Condo Fact Sheet

Unit Types and Distribution

Click on the link for Chuan Park E-brochure and Floor Plans.

• 2-Bedroom Virtual Tour
• 3-Bedroom Virtual Tour
• 5-Bedroom Virtual Tour

Who are the Developers of Chuan Park Condo?

Chuan Park condo is a joint venture between two reputable and award-winning developers, Kingsford Huray Development and MCC Land (Singapore). Kingsford is a well-established property developer with a strong track record in delivering high-quality residential and commercial projects across Singapore.

Some of the developments they have built include Kingsford Waterbay, Kingsford Hillview Peak, and Normanton Park.

MCC Land (Singapore), a subsidiary of the renowned MCC Group, is a leading property developer with a diverse portfolio of residential, commercial, and industrial projects in Singapore and beyond.

Some of the residential projects they have developed are The Landmark, One Bernam, and The Poiz Residences.

What are the Prices for Chuan Park?

During Chuan Park's sales launch on 8 November 2024, it sold 696 (76%) out of a total of 916 units at an average price of $2,579. This is within our expectations due to its excellent location next to the Lorong Chuan MRT station and proximity to amenities and good schools.

Moreover, there has been a lack of new launches in the area since 2010, which led to pent-up demand.

The units sold ranged from 2-bedroom, 2-bedroom+study, and 3- to 5-bedroom units. Singaporeans made up about 93% of the total number of homebuyers, while permanent residents and foreigners accounted for the remaining 7%.

Many of the buyers were upgraders from older HDB flats or condominiums in nearby areas or older buyers downsizing from landed properties to the larger 4- or 5-bedroom units

During the en bloc sale in June 2022, the 37,216 sq m (400,588 sq ft) site with a gross plot ratio of 2.1, which translates to a gross floor area (GFA) of 78,153 sq m (841,235 sq ft), was sold for $938 million inclusive of an upgrading premium of $192.62 million. This works out to a land rate of $1,256 psf ppr.

Design Features of Chuan Park

Chuan Park Condo showcases an innovative architectural design that harmoniously integrates residences within two organic 'forests' of columns, creating a stunning vertical landscape. This breathtaking environment is enhanced by flowing water features and mineral cliff-like structures, fostering a serene atmosphere.

The development includes a 50m lap pool and various shared amenities, all thoughtfully interwoven with lush landscaping. The five tower blocks are strategically positioned on a triangular plot, with 82% of the units benefitting from a North-South orientation, which helps to minimise direct sunlight for enhanced comfort.

Each residential unit is meticulously designed to maximise space and natural light, featuring expansive windows that invite warmth and tranquility into the interiors. The intelligent layout promotes a serene and practical living space, enhancing overall comfort.

Where is Chuan Park Condo Located?

Site Plan

Chuan Park condominium is located in Serangoon in Singapore’s District 19. It is bounded between Lorong Chuan and Serangoon Avenue 3, and a short drive to Serangoon Gardens where the popular Chomp Chomp food centre is located. The Lorong Chuan MRT station on the Circle Line is just next to the development, providing residents easy access to the Central Business District and Orchard Road.

Major expressways, including the Central Expressway (CTE) and the Pan Island Expressway (PIE), are also nearby, enhancing transport connectivity and commuting ease.

The area surrounding Chuan Park is well-equipped with amenities. Nearby educational institutions include St. Gabriel's Primary School, Nanyang Junior College, and the Australian International School.

For shopping, dining, and entertainment, residents can visit Junction 8 and Nex Shopping Mall where the latter is one of Singapore’s largest suburban malls. Both are located just one MRT stop away. Alternatively, they can visit the famous Chomp Chomp food centre or myVillage shopping mall in the hip Serangoon Gardens neighbourhood just a 9-minute bus ride away.

Transport Connectivity of Chuan Park

Lorong Chuan MRT Station

Chuan Park condo boasts excellent transport connectivity as the Lorong Chuan MRT station (CC14) on the Circle Line is a minute's walk away. This provides residents direct access to various parts of Singapore via the rail network, which includes the Paya Lebar sub-regional centre and Marina Bay Business District.

Moreover, residents can easily transfer to other MRT lines like the North-South and North-East Lines at the nearby Bishan and Serangoon interchanges. Both are just a stop away.

In addition, the area is well-served by public buses, while the Serangoon Bus Interchange is only 1.5km away from the development, offering a comprehensive network of bus services. This ensures easy access to even more destinations and eliminates the need for multiple MRT transfers in some cases.

Major Expressways

For those who drive, Chuan Park condo is well-connected to major expressways such as the Central Expressway (CTE) and Pan Island Expressway (PIE). These expressways offer direct routes to key destinations like the Central Business District, Orchard Road, and Changi Airport, making commuting a breeze for residents.

Given the excellent transport connectivity of Chuan Park, it not only ensures ease of travelling for residents but will also contribute to the property’s appeal and investment prospects.

Whether travelling by MRT, bus, or car, residents can enjoy the benefits of reduced commuting times and enhanced accessibility, making the development an ideal residence for individuals and families seeking convenience and a better quality of living.

Shopping Malls and Amenities Near Chuan Park Condo

Chuan Park Condo enjoys convenient access to an array of shopping malls and amenities, providing residents unparalleled convenience and a vibrant lifestyle. The nearest is Nex and Junction 8 shopping malls one MRT station away.

Nex Shopping Mall: Located just a short drive away, it is one of the largest suburban malls in Singapore. It offers a comprehensive range of retail, dining, and entertainment options, including a FairPrice Xtra supermarket, cineplex, and numerous fashion and lifestyle stores.

Junction 8: It offers a variety of retail and dining options, as well as a cinema and FairPrice Finest supermarket. It is a popular destination for residents in the Bishan and Serangoon areas, especially with its plethora of neighbourhood shops.

Woodleigh Mall: Opened in May 2023, it is just two MRT stations from Chuan Park. The three-story hub in Bidadari Estate offers not only retail stores and restaurants but also green spaces and community areas. With 160 brands, it is a destination for residents to shop, dine, relax, and connect, all under one roof.

myVillage at Serangoon Gardens: A quaint shopping centre that offers a mix of dining, retail, and service outlets. It provides a cosy and relaxed shopping experience, perfect for leisurely weekends. it also has a FairPrice Finest supermarket in its basement, providing residents convenient access to groceries and fresh produce.

Chomp Chomp Food Centre: Located at Serangoon Gardens, it is a bustling hawker centre famed for its vibrant atmosphere and diverse local cuisine. Renowned for its satay, Hokkien mee, and BBQ seafood, it attracts food lovers seeking authentic Singaporean flavours. Its lively nighttime ambience makes it a popular social hotspot.

In addition, surrounding these shopping centres are numerous local shops, eateries, and services. From grocery stores and bakeries to cafes and restaurants, they add to the vibrancy of these areas.

Proximity to Bishan-Ang Mo Kio Park

Bishan-Ang Mo Kio Park

Residents of Chuan Park condo will enjoy proximity to the Bishan-Ang Mo Kio Park, one of Singapore's largest urban parks.

Located just a 6-minute drive from the development, this sprawling green sanctuary offers a tranquil escape from the city's hustle and bustle.

Perfect for nature lovers and families, the park boasts a naturalised river, recreational facilities, playgrounds, and serene walking trails, promoting a healthy and active lifestyle almost right on their doorstep.

With over 90 bird species and rich flora to discover, it's an urban oasis for residents to relax, connect with nature, and enjoy Singapore's biodiversity.

Schools Near Chuan Park Condo

Chuan Park's location is highly advantageous for families with school-going children. The development is close to several reputable educational institutions, catering to different age groups and educational needs. The following is a list of them:

Primary Schools: Rosyth Primary School, St. Gabriel's Primary School, Yangzheng Primary School, and CHIJ Our Lady of Good Counsel.

Secondary Schools: Zhonghua Secondary School, St. Gabriel's Secondary School, Peicai Secondary School, and Paya Lebar Methodist Girls' School.

Junior Colleges: Nanyang Junior College and Anderson Serangoon Junior College.

International Schools

For expatriate families, the Australian International School and Stamford American International School are within a short drive, offering internationally recognised curricula.

The proximity to these schools makes Chuan Park an attractive choice for families, ensuring that children receive a quality education without long commutes.

This convenient access to reputable international schools will draw rental demand from expatriate families and help to bolster the development's overall investment appeal.

Major Industrial and Commercial Hubs Nearby

Chuan Park condo is strategically located near established commercial and industrial hubs. These include the following:

• Ang Mo Kio Industrial Estate.
• Serangoon North Industrial Estate.
• Tai Seng Industrial Estate.
• Ubi Industrial Estate.
• MacPherson Industrial Estate.
• Paya Lebar Central Commercial Hub.

Additionally, the upcoming relocation of the Paya Lebar Airbase, set to commence in 2030, will unlock an 800-hectare area - equivalent to five times the size of Toa Payoh.

There is a plan to develop the vast site into a "new generation town" featuring 150,000 homes alongside businesses, parks, and community spaces. This transformation is poised to revitalise the eastern part of Singapore, creating a vibrant environment for living, working, and recreation.

As they are all located within a 7-13 minutes drive from Chuan Park Condo, residents will enjoy convenient access to many employment opportunities near their homes. Their proximity, alongside anticipated infrastructure enhancements, will boost its investment potential.

Conclusion: Investment Prospects of Chuan Park

To recap, Chuan Park Condo will appeal to homebuyers for many reasons. These include the following:

1. A Landmark: Due to its size, Chuan Park will be a standout development that will set new residential standards.
2. Reputable Developers: Developed by award-winning Kingsford Huray Development and MCC Land (Singapore).
3. Pent-up Demand: The potential of high demand amid the lack of new launches in the area since The Scala in 2010. In addition, most of the private housing in the matured estate are dated.
4. Luxurious Living: A large site area allows for abundant landscaping and water features, elevating the standard of living.
5. Excellent Transport: Next to Lorong Chuan MRT on the Circle Line, it offers convenient commutes.
6. Near Expressway: A short drive to Central Expressway (CTE) for direct city access.
7. Abundant Amenities: Nex shopping mall and Junction 8 are just one train station away, offering a wide range of shopping, dining, and entertainment options.
8. Family-Friendly Location: Close to reputable schools, it is ideal for families with school-going children.
9. Outdoor Recreation: Nearby nature parks promote a healthy, active lifestyle.
10. Investment Potential: Proximity to major employment centres to boost housing demand and investment value.

Potential Drawbacks

Nevertheless, there are crucial factors to consider, especially the price of an OCR project. With prices likely to start from around $2,500 psf and upward, it may face some buyers’ resistance.

For example, it may face competition from projects like The Hill @ one-north, a RCR project near Buona Vista MRT station. During its launch sales on 20 April 2024, units were sold at an average price of $2,595 psf.

Chuan Park may also face competition from resale properties nearby such as The Scala (launched August 2010), Goldenhill Park Condo (launched March 2001), The Springbloom (launched August 1997) and Chiltern Park (launched Jan 1995).

All of them are 99-year leasehold developments, except for Goldenhill Park Condo.

In the resale market, they have been transacted at an average price of $1,812 psf, $2,082 psf, $1,511 psf, and $1408 psf respectively. Although their resale prices may seem low on the surface, after "topping up" their leases to 99 years (excluding Goldenhill Park which is freehold) for an equitable comparison with Chuan Park, the latter is in fact competitively priced.

In addition, we have not taken into account the conditions of these older developments, inferior facilities, and higher maintenance cost, which will result in a slower rate of capital appreciation.

Another key concern for potential home buyers and investors is the size of the development, with 916 units, which could lead to increased competition when reselling in the future. However, due to the scarcity of new housing developments in the area, with the average age of surrounding HDB flats at 37 years and private properties at 23 years, Chuan Park will have a competitive advantage in the long term.

Comparative Market Analysis

Below is a chart showing how properties near Chuan Park have performed since their respective launch:

Comparative Market Analysis

• The Scala (August 2010): +54.65%.
• Goldenhill Park Condo (March 2001): +192.01%.
• The Springbloom (August 1997): +130.34%.
• Chiltern Park (January 1995): +145.72%.

While the current global economic climate may raise some concerns, the performance of properties in the vicinity of Chuan has consistently demonstrated resilience and capital appreciation, as seen in the above chart.

This has been demonstrated even during economic turmoil such as the Dot-com bubble (2000) and the Lehman Brothers collapse (2008). This is a testament to the location's attractiveness to property investors.

Hence, this should mitigate some concerns about the capital appreciation potential of Chuan Park, especially in the long term, despite the current challenging global economic situation.

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