[Update 23 Sep 2016] Showflat opens 24th September 2016.
We examine another new developer project due for launch really soon. The Alps Residences is situated along Tampines Street 86 and the area has a few other developments including Q Bay Residences which was completed this year. The Santorini currently still has developer units on sale and the EC Arc at Tampines which was completed in 2014.
The adjacent empty land plot, which is currently on the URA reserve sale list for 2H2016, has not been activated. It is stipulated for residential use, which means it will be another condominium if it does get built up in the future.
2 plots, 1 developer
MCC Land won the tender for this plot of land at $483 psf per GFA in May 2015 and this is where things get interesting. The same developer is also building the Santorini which was awarded at $562 psf per GFA in July 2013, with 360 units unsold. The cheaper land price here should translate to a cheaper selling price and the average sale price should be around $1,000 psf, compared to $1,100 psf at the Santorini.
If you are looking to buy into the area, it’s a straightforward decision to choose the The Alps Residence, pocket the $100 psf difference and do something else with the money you saved, unless you have a very strong preference of the Greek island over the Swiss mountains.
Development details of The Alps Residences
There will be 9 blocks with their height varying between 10 to 15 storeys and a total of 626 units.
Breakdown of units
|Room type||Floor size||No. of units|
|1BR||441–463 sf||56 Units|
|1BR+Study||495–506 sf||126 Units|
|2BR||689-700 sf||183 Units|
|2BR+Study||689 sf||55 Units|
|3 BR||936-1087 sf||178 Units|
|4 BR||1410 sf||22 Units|
|4BR (PH)||1668-2088 sf||4 Units|
|5BR+Study (PH)||2486 sf||2 Units|
Appeal of the floor plan
Compared to most other new developments, the 3 bedroom unit is generous with space, with the typical unit at around 1,000 sqft. The layout is special as the kitchen is usually located near the main door. In The Alps Residence, the kitchen is located after passing through the dining room. The kitchen is connected to the balcony which makes al fresco dining a breeze.
Comparable developer units at a similar price
The Santorini – 360 units left
Coco Palms – 92 units left
Launch Price estimates
|Type||Size||Est. Ppsf ($)||Est. launch Price|
|3 BR||936-1087 sf||$950||$950,000|
|4 BR||1410 sf||$950||$1.35 million|
|4BR (PH)||1668-2088 sf||$900||$1.6 million|
|5BR+Study (PH)||2486 sf||$900||$2.2 million|
If you are not sure what the URA master plan is, we have a great guide for you here. All the plots adjacent to the Alps Residences are undeveloped.
Putting the URA Master Plan and site plan together, we will avoid the west facing units due to the heat by exposure to sun in the afternoon. Any units facing the roads will be affected by construction sites some time in the future, as all the adjacent plots are undeveloped now. If you are very sensitive to that, choose an inward facing unit.
For a good view of the Tampines quarry
Inward facing units with no exposure to the sun in the afternoon
stacks 13, 14, 15, 24-30, 33, 34, 37
Bin centre and substation
This is one of the rare cases where the site plan is very upfront about the bin centre and substation. Avoid stacks 1-6 if you are sensitive to them.
Buy the future
The area is priming up for the future, with many undeveloped plots in the vicinity. The first movers will get great value as prices generally rise as the area gets developed. This is reminiscent of Punggol just 10 years ago and look at what Punggol has become now. It is also near the Paya Lebar Airbase which will be relocated in 15 years time, the potential for future development is immense.
The expected sales launch is in late September and more information will be released.
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