Sky Eden@Bedok Review

Overview

1. Historical Overview
   • Transformation of Bedok Point from a commercial mall to a residential cum commercial building.
   • Changes in the Bedok neighborhood over the past decade, including the introduction of Bedok Mall, Bedok Residences, and Heartbeat @ Bedok.
2. Potential Demand for Sky Eden@Bedok
   • Success of previous mixed-use developments like Bedok Residences, indicating demand for such projects.
   • Sky Eden@Bedok’s high sales percentage on launch day and average selling price of $2,100 psf, indicating strong demand in the area.
3. Personal Observation of Price Trends
   • Comparison of average selling prices between Bedok Residences in 2011 ($1,350 psf) and Sky Eden@Bedok in present day ($2,100 psf).
4. Developer’s Pricing Strategy
   • Allocation of ample space for the show flat despite a smaller-scale development.
   • Utilization of bright and light color scheme representative of Sky Eden@Bedok’s theme.
5. Prediction for Unit Pricing
   • Sky Eden@Bedok’s average selling price of $2,100 psf.
6. Comparison with Previous Peaks
   • Comparison of sales percentages and average selling prices between Bedok Residences and Sky Eden@Bedok.
7. Market Caution and Consideration
   • Concerns about potential noise from nearby MRT tracks addressed through acoustic measures.
   • Evaluation of amenities and facilities to meet residents’ needs and preferences.
8. Excitement for Sky Eden@Bedok’s Distinctive Features
   • Description of Sky Eden@Bedok’s unique features, including sky gardens on every level inspired by polypore fungi.
   • Evaluation of facilities such as the infinity lap pool, gym, yoga deck, and co-working spaces.
   • Emphasis on green spaces and biodiversity within the development.

2 Bedroom Premium Type B2 (64 sqm/689 sq ft)

Unit Details:

• Type: 2 Bedroom Premium Type B2 (64 sqm/689 sq ft)
• Layout: Regular layout with neutral colors throughout the space.
• Total units: 48

Kitchen:

• U-shaped kitchen layout with decent counter space and generous storage.
• Bosch appliances including hood, built-in oven, and two-stove induction hob.
• Large format porcelain tiles for backsplash and countertop for easy maintenance.
• Right-angled glass feature for visibility and light.
• Lack of proper ventilation window may pose challenges with dispersing cooking smells.

Bathroom:

• Common bathroom with typical design and quality fittings from Geberit and Hansgrohe.
• Mirror serves as an in-built cabinet for storage.
• Under-counter basin with generous counter space.
• Wall-hung WC with concealed cistern flush.
• Lack of window limits natural ventilation.

Overall Design:

• Thoughtful use of mirrors to create a sense of space.
• In-built linen closet serving as vertical storage space.
• Quality materials and fittings contributing to a relaxing and spacious feel.
• Lack of ventilation windows in kitchen and bathrooms may impact air quality.
• Attention to maximizing storage space and functionality in bedrooms and living areas.
• Floor-to-ceiling windows in master bedroom providing ample natural light.

Location Review

Sky Eden@Bedok stands out as one of the most conveniently located projects in Bedok, boasting a prime location just a 3-minute walk from Bedok MRT Station. This strategic positioning offers residents easy access to the East-West line, connecting them to key destinations such as Paya Lebar and Bugis MRT Stations in just a few stops.

Strategically nestled between Paya Lebar Commercial Hub, Tampines, and Changi Aviation Park, Sky Eden@Bedok places residents at the heart of the East. For those reliant on public transportation, the indoor bus interchange within Bedok Mall serves over 30 bus routes, ensuring seamless connectivity.

Residents of Sky Eden@Bedok enjoy unparalleled access to amenities right at their doorstep. With Sheng Siong Bedok, FairPrice Bedok Central, and Bedok Hawker Centre all within a 3-minute walk, residents have easy access to grocery shopping and dining options with over 70 hawker stalls nearby. Additionally, Bedok Mall, just a short stroll away, offers over 200 shops and another FairPrice Finest outlet, enhancing residents’ shopping convenience.

While the majority of the route from Bedok Point to the MRT station is sheltered, navigating past the markets and food centers can be somewhat chaotic. However, this is a minor inconvenience considering the central location and plethora of amenities offered by Sky Eden@Bedok.

Developer Team 

Frasers Property is no stranger to the Singapore real estate scene, given its listing on the SGX and strong track record in the residential market in the city-state for 25 years. To date, Frasers Property has built over 23,000 homes across 59 residential properties in Singapore, and these developments have been recognised on both global and local platforms for outstanding efforts and standards in design, architecture, construction innovation, and sustainability. The developer-owner-operator mainly deals across five asset classes: retail, commercial, business parks, industrial & logistics, hospitality, and of course, residential. 

The group has businesses in other parts of the world such as Southeast Asia, Australia, Europe, and China. As of March 2022, the group has reported their total assets to amount to approximately $40.7 billion. 

Price Review

Bedok Residences is a much bigger development and will have TOP-ed more than 10 years prior to Sky Eden@Bedok. Considering these factors, we see an almost 25% price gap between the 2 developments, with Bedok Residences hovering at around $1,600 psf. Sky Eden@Bedok, probably riding the wave of a new launch, has already hit the $2,000 mark despite also being a 99-year leasehold and located further away from the MRT station and Bedok Mall. This strongly signals to me that demand is there for property within the area – possibly those who are looking for an upgrade from an HDB flat.

All the other surrounding condo developments have one key difference to Sky Eden@Bedok – its freehold tenure. However, Sky Eden@Bedok still manages to achieve the highest average price psf. The biggest price gap would be with Gemini Apartments, which has a whopping 37% difference in price. I’d assume that age, the number of units, and location would be the biggest contributors to it.