The Reserve Residences Review

Overview 

Location Highlights:

• Integral part of the rejuvenation of Beauty World precinct.
• Features the first integrated development with a transport hub in Bukit Timah area, including a bus interchange and direct underground access to Beauty World MRT.

Neighbourhood Appeal:

• Proximity to multiple malls, amenities, and popular F&B spots.
• Within 1km of reputable schools, like Pei Hwa Presbyterian Primary.
• Close to nature parks such as Bukit Timah Nature Reserve and Rifle Range Nature Park.

Development Details:

• Developed by Far East Organization and Sino Group, secured through a S$1.03 billion GLS bid.
• Four exclusive collections catering to diverse buyer profiles: The Reserve Residences, Horizon, Creekside, and Treetops.
• Designed by WOHA Architects, offering units with stunning greenery views and natural elements integrated into the development.

Market Context:

• Launched as the first large-scale development after recent cooling measures, presenting an intriguing market performance to observe.

Inside Tour

Location and Connectivity:

• Integrated Development with Transport Hub: Offers direct underground access to Beauty World MRT and a bustling bus interchange, a first for Bukit Timah.
• Proximity to Amenities: Strategically situated near malls, amenities, and popular dining spots.
• Close to Esteemed Schools: Positioned within 1km of Pei Hwa Presbyterian Primary School, enhancing its appeal for families.

Surrounding Environment:

• Access to Nature: Offers proximity to lush nature parks like Bukit Timah Nature Reserve and Rifle Range Nature Park, providing residents with green spaces.

Development Details:

• Acquisition and Pricing: GLS site acquired for S$1.03 billion, showcasing the desirability of the location.
• Design Excellence: Led by WOHA Architects, the project is divided into four exclusive collections catering to diverse buyer profiles and price points.
• Integration of Nature: Many units offer views of surrounding nature parks, with natural elements seamlessly integrated into the development.

Overall Appeal:

• Urban Oasis: Positioned as an urban oasis amidst a vibrant precinct undergoing transformation.
• Distinct Propositions: Offers varied unit collections with different perspectives and target audiences.
• Blend of Urban and Natural Elements: Seamlessly integrates urban conveniences with proximity to nature parks.

Environment and Amenities:

• Retail and Convenience: Seamlessly linked to Bukit V retail mall with extensive offerings and an air-conditioned bus interchange operated by Far East Malls.
• Surrounding Locale: Abundance of shopping and dining options within a 6-minute walk, including markets, plazas, and renowned eateries along Cheong Chin Nam Road.
• Nature Proximity: Adjacency to various nature reserves like Bukit Timah Nature Reserve, Rifle Range Nature Park, Hindhede Nature Park, and more, blending convenience with natural surroundings.

Access and Connectivity:

• Transport Links: Direct underground link to Beauty World MRT and integrated bus interchange; future access to the Cross-Island Line (CRL) at King Albert Park MRT.
• Road Connectivity: Positioned at the intersection of Upper Bukit Timah Road and PIE, facilitating easy commuting to major hubs across Singapore.

Education Proximity:

• School Accessibility: Directly opposite Pei Hwa Presbyterian Primary School, within 1km of Methodist Girls’ School (Primary), and near other esteemed educational institutions and international schools.

Facility Assessment and Configuration:

• Residential Blocks: Comprising 732 units across eight blocks, divided into high-rise towers for various collections and low-rise blocks for the Creekside collection.
• Abundant Facilities: Over 70 facilities spread across seven different levels, catering to diverse needs and offering amenities like pools, gardens, sports facilities, and communal spaces.

Design and Inspiration:

• Architectural Concept: Inspired by surrounding nature reserves; design features terracing gardens, green elements, and a color palette mirroring Bukit Timah’s natural hues.
• Facility Zones: Strategic placement of amenities across different levels, including family-friendly spaces, sports facilities, elevated panoramic zones, and workspaces.

Parking and Views:

• Parking and Accessibility: Separate entrances and parking for residents and visitors, provision of 586 residential parking lots, and varying views of nature reserves and urban landscapes from different unit perspectives.

Overall Appeal:

• Balanced Living: Blending urban conveniences with nature’s touch, providing a variety of facilities and thoughtful design elements catering to diverse resident needs and preferences.

Unit Mix Overview:

• Total Units: 502
• 1-bedroom: 100 units (440 – 495 sqft)
• 2-bedroom/2-Bedroom + Study: 304 units (560 – 807 sqft)
• 3-bedroom/3-Bedroom + Study: 98 units (883 – 1216 sqft)

Horizon Collection (Tailored for Larger Families):

• 3-bedroom Flexi-Space (Private lift): 76 units (1313 – 1324 sqft)
• 4-bedroom Flexi-Space/4-Bedroom (Utility + WC) (Private lift): 91 units (1475 – 1744 sqft)

Creekside Collection (Low-rise Living Experience):

• 3-bedroom: 42 units (1335 – 1378 sqft)
• 4-bedroom (Private lift): 6 units (2185 sqft)

Key Points:

• Target Demographics: Appeals to various demographics such as investors, small families, young couples, and singles.
• Efficiency and Storage: Emphasis on efficiency and storage in 1 to 3-bedroom units.
• Horizon Collection: Spacious units with private lifts and flexi spaces, tailored for larger and multi-generational families.
• Creekside Collection: Intimate living experience with ground-level units featuring larger balconies and direct landscape access.

Treetops Collection Highlights:

• Unit Mix:
  • 1-bedroom: 100 units (13.7%)
  • 2-bedroom (including units with study): 304 units (41.5%)
  • 3-bedroom (including units with study and flexi space): 216 units (29.5%)
  • 4-bedroom (including units with study, flexi space, and duplex): 100 units (13.7%)
  • 5-bedroom (including units with flexi space, duplex, and penthouse): 12 units (1.6%)

Offerings and Demographics:

• Diverse Configurations: Aimed at accommodating various buyer profiles.
• Target Demographics: Appeals to owner-occupiers, investors, families, couples, upgraders, and right-sizers.
• Market Appeal: Strategic approach aligned with industry trends, resembling successful tactics observed in other developments like Far East Organization’s One Holland Village Residences, Hoi Hup Realty, and Sunway Developments. This strategy enhances buyer interest and market excitement by offering distinct collections catering to different segments.

Unit Layout Evaluation – Horizon Collection (D4) – 1,625 sqft

Overview:

• Unit Type: 4-bedroom Horizon Collection (D4)
• Size: 1,625 sqft (151 sqm)
• Number of Units: 91

Suited For:

• Multi-generational families
• Larger families
• Buyers who frequently entertain guests

Unit Details:

• Floor Plan Types: D2, D3, D4 in Horizon collection; D1 in Creekside collection
• Private Lift: Available for all units in Horizon collection
• View: 270-degree panoramic views of surrounding nature reserve and facilities
• Layout: Diagonal angles in floor plan may affect furniture placement

Private Lift and Entry:

• Direct Access: Private lift opens directly into unit
• Privacy Concerns: No private lift lobby; shared lift access among stack neighbors

Kitchen Spaces:

• Dry Kitchen: Equipped with countertop, sink, wine chiller, glass finish upper cabinets
• Wet Kitchen: Ample space (115 sqft) with cabinets, window for ventilation
• Appliances: Premium European brand (Smeg) appliances provided; separate washer and dryer

Flexi Space:

• Size: Around 76 sqft (7.1 sqm)
• Function: Offers diverse use as a home business area, hobby space, helper’s room, or study room
• Accessibility: Accessible from common lobby, attached bathroom included

Living and Dining Areas:

• Space: Generously sized, totaling 513 sqft (47.7 sqm)
• Accommodation: Suitable for large social gatherings, spacious enough for an eight-seater dining table
• Balcony: Large space (113 sqft) for additional seating, panoramic nature views

Additional Living Space:

• Study Area: Additional space between living/dining areas and bedrooms, suitable for various uses

Bedrooms:

• Master Bedroom: Spacious with large-format picture windows, walk-in wardrobe, and luxury provisions in the ensuite bathroom
• Junior Master Bedroom: Slightly larger than a common bedroom, suitable for elderly couples or small families
• Common Bedrooms: Standard-sized rooms, fit for queen-sized beds, equipped with full-length windows and built-in wardrobes

Bathrooms:

• Master Bath: Luxurious provisions including a bathtub, rain shower, and dual sinks
• Junior Master & Common Baths: Equipped with rain showers, handheld bidet sprays, and additional conveniences, shared between bedrooms

These pointers aim to give a comprehensive overview of the features and layout of the 4-bedroom Horizon Collection unit at The Reserve Residences.

2-bedroom (B7A) – 743 sqft (68 sqm) [The Reserve Residences]

Overview:

• Unit Type: 2-bedroom (B7A)
• Size: 743 sqft (68 sqm)
• Number of Units: 250 (2-bedroom units)

Suited For:

• Young couples
• Small families with one child
• Investors seeking rental opportunities
• Tenants

Unit Details:

• Predominance: 34% of total units
• Unit Mix: 7 layouts of 2-bed-1-bath and 2-bed-2-baths; 2 layouts of 2-bedroom + Study units
• Layout Variation: Dumbbell layout prevalent, showflat unit exhibits T-shaped layout

Kitchen Space:

• Open Kitchen: Present upon unit entry, efficient layout with no foyer space
• Appliances: Smeg appliances including oven, induction hob, cooker hood, fridge, and washer-dryer
• Ventilation: Window provided in kitchen for natural airflow

Dining and Living Areas:

• Dining Area: Accommodates a four-seater table; possibility for parallel arrangement to wall for more walkway space
• Living Area: Wider than average width (2.7m), accommodates three to four-seater sofa; options for coffee table layout
• Balcony: Offers additional space, wider for “A” unit types, potential for greenery or facility views

Bedrooms:

• Master Bedroom: Average size (142 sqft), fits a king-sized bed; curtain wall window at floor level, slight diagonal wall in B7/B7A types
• Storage: Built-in lighted wardrobes provided in all bedrooms, side dresser with full-length mirror

Bathrooms:

• Master Bath: Standard provisions including rain shower, handheld bidet spray, vanity countertop, mirror cabinet
• Common Bath: Equipped with rain shower and handheld bidet spray, subtle differentiating features from other units

These pointers offer an in-depth view of the features and layout of the 2-bedroom (B7A) unit at The Reserve Residences.

3-bedroom (C8) – 1,163 sqft (108 sqm) [Creekside]

Overview:

• Unit Type: 3-bedroom (C8)
• Size: 1,163 sqft (108 sqm)
• Number of Units: 42 units

Suited For:

• Buyers preferring exclusivity and privacy
• Those desiring a low-rise apartment with pool views
• Smaller multi-generational families

Unit Details:

• 42 units of 3-bedders (C6 to C8 types)
• Additional PES available for certain units
• Ideal for smaller multi-generational families with three bathrooms

Location and Features:

• Situated in the Creekside collection, separate from the main residential towers
• Eight stacks in total, offering exclusivity with two units per floor and lift access
• Lower storeys (6-12) with PES for level 6 units; level 12 designated as the roof terrace

Foyer and Kitchen Space:

• Efficient foyer design with substantial storage in DB cabinet
• Enclosed kitchen with Smeg appliances, larger windows for natural light
• Household shelter and WC within the kitchen area

Living and Dining Areas:

• Spacious living and dining areas with 3.2m ceiling height
• Dumbbell layout offering distinct spaces for bedrooms
• Balcony spanning the length of the living area and one bedroom

Bedrooms:

• Master bedroom with 156 sqft space and 3.2m ceiling height
• Walkway space around a king-sized bed, no walk-in wardrobe but ample dressing space
• Two common bedrooms, one adjacent to the master and the other opposite living area

Common Bedrooms:

• Bedroom 2 adjacent to the master, suitable for loft beds or double-decker beds
• Bedroom 3 larger, suitable as a junior master, with an attached bathroom
• Bedroom 3 offers balcony access without passing through the living area

Bathrooms:

• Each bedroom has its own bathroom with standard provisions
• Master bathroom equipped with a washlet in the water closet

These pointers offer insights into the layout, features, and suitability of the 3-bedroom (C8) unit in the Creekside collection at The Reserve Residences.

The Reserve Residence Price Analysis

Indicative Prices and Sales Data:

• Starting Prices:
  • 1-bedroom units start from S$1.11 million with an average psf price of S$2,300.
• Sales Performance:
  • 71% of units (520 out of 732) sold during the launch weekend.
  • Highest transacted unit was a 5-bedroom Sky Terrace apartment at S$2,790 psf.
  • 99% of buyers were Singaporeans and permanent residents.

Comparison to District 21 New Launches:

• Average PSF Prices in District 21:
  • The Reserve Residences: S$2,460 psf.
  • Comparison to other developments in the district.
• Price Trend in the Area:
  • Average PSF prices increased by 15% since 2020.
  • Expectations for Reserve Residences’ premium pricing due to integrated development status and transport hub.

Comparison to RCR New Launches:

• Average PSF Price in RCR:
  • New 99-year condo transactions: S$2,459 psf.
  • Average prices for 1 to 4-bedroom units in the RCR.
• Quantum Comparison:
  • Reserve Residences’ indicative prices comparatively reasonable across unit types.

Comparison to Integrated Developments in RCR and OCR:

• Comparison to Other Integrated Developments:
  • The Woodleigh Residences and Lentor Modern compared to Reserve Residences in terms of average PSF prices.
• Launch Timeline and Expected Price Gaps:
  • The Reserve Residences’ launch four years later reflects a reasonable price gap (expected average PSF price of S$2,500++).

Rental Prospects and Pricing:

• Rental Demand Expectations:
  • 1 and 2-bedroom units make up 55% of Reserve Residences.
  • Connectivity to Beauty World MRT and nearby schools will attract tenants.
• Average Rental Prices and PSF:
  • Rental prices in April 2023 for 1 to 4-bedroom units within 1km of Reserve Residences.
  • Average PSF prices for rental transactions in the same period.

Tables:

Here are two tables to summarize some of the data:

Average PSF Prices in District 21 New Launches:

Comparison of Average PSF Prices in RCR New Launches:

These summaries and tables offer a comprehensive view of The Reserve Residences’ pricing analysis, sales performance, comparison to other developments, and rental prospects.

Appreciation Analysis

1. Integrated Developments’ Appreciation Analysis:

a. Historical Appreciation:

• North Park Residences, Hillion Residences, Bedok Residences:
  • Demonstrated healthy appreciation rates of over 25% over the last decade.
• Watertown and Park Place Residences:
  • Showcased significant average price growth since launch, with Watertown at 31% and Park Place Residences at almost 18%.

b. Future Integrated Developments’ Appreciation:

• Pasir Ris 8, Sengkang Grand Residences, The Woodleigh Residences:
  • Highlighted appreciation rates ranging from 5.41% to 13.68%, indicating a promising potential for growth.

2. The Reserve Residences’ Growth Potential:

a. Beauty World Rejuvenation:

• Core component of Beauty World precinct rejuvenation, contributing to sustained appeal and demand.
• Proximity to Bukit Timah Community Building integrates various community facilities, further enhancing its attractiveness.

b. Cross Island Line (CRL) Impact:

• Short distance to King Albert Park MRT, an interchange for the Cross Island Line (CRL), augments connectivity and convenience.
• Significantly reduces travel time to major business districts, fostering increased interest and demand.

Tables for Comparison of Appreciation Rates:

Table 1: Historical Appreciation Rates of Integrated Developments

Table 2: Future Integrated Developments’ Appreciation

These tables summarize the historical and expected appreciation rates of integrated developments, demonstrating the potential for The Reserve Residences to experience substantial growth based on the performance of similar projects.