News > The Chuan Park - New Condo Launch in D19: What is the Expected Starting Price?

The Chuan Park - New Condo Launch in D19: What is the Expected Starting Price?

25 September 2024

The upcoming launch of The Chuan Park condo marks a new chapter for this iconic 99-year leasehold property in District 19, Singapore. Situated on a prime plot in the heart of Serangoon – within just 2 minutes from Lorong Chuan MRT Station (Circle line), this new development is poised to offer a perfect blend of modern living and excellent connectivity. The project, helmed by Kingsford and MCC Land, spans approximately 37,216 sqm (approximately 400,589 sqft) with a gross floor area of 78,033 sqm (approximately 839,939 sqft). The Chuan Park Condo will feature 916 units ranging from 2- to 5-bedroom layouts, catering to different family sizes and lifestyles.

Image: The Chuan Park Condo land lot location on Map View. Source: RealInsight.

The Chuan Park Condo New Launch - A joint development by Kingsford and MCC Land Singapore

Kingsford Development, founded in Hong Kong in 2000, has expanded its real estate expertise to Mainland China, Singapore, and Australia. Known for its focus on innovation and efficiency, the developer has led numerous successful projects, including Normanton Park, Kingsford Hillview Peak, Kingsford Waterbay, and The Hill at One North.

MCC Land (Singapore) is a subsidiary of the China Metallurgical Group Corporation (MCC), a Fortune Global 500 company. MCC Land has established a strong presence in Singapore’s real estate market with a portfolio that includes notable developments like Queens Peak, The Alps Residences, and The Poiz Residences. The company is recognised for its commitment to quality construction and sustainable development, consistently delivering projects that blend functionality with aesthetic appeal.

Strategic Location and Connectivity

Sitting on the same land plot as the former Chuan Park Condo, The Chuan Park enjoys a coveted location within a well-established residential neighbourhood. Just a 2-minute walk from Lorong Chuan MRT station (CC14) on the Circle Line, residents can easily access key areas like the CBD, Marina Bay, and Orchard Road.

The development is also within close proximity to the vibrant Serangoon and Bishan hubs, where popular malls such as NEX and Junction 8 offer abundant shopping and dining options. Families with children will appreciate the nearby top-tier educational institutions like St. Gabriel’s Primary School, Nanyang Junior College, and the Australian International School. For more information about the amenities surrounding The Chuan Park Condo, click here.

Image: Schools within 2km from The Chuan Park Condo on Map View. Source: RealInsight.

Diverse Unit Selection

The Chuan Park offers a wide range of unit options, including 2- to 5-bedroom layouts, designed to cater to different family needs. Notably, the supply of new 4-and 5-bedroom units is very limited in the market, and there have been no new launch projects offering 5-bedroom units in District 19 since 2020. This makes The Chuan Park particularly attractive for families seeking larger living spaces in a prime location.

Chart: Number of New Condo Units Completed in District 19 between 2021-2024, by bedroom type. Source: RealInsight

Recent Market Trends and Price Analysis of New Launches in D19

District 19 Condo New Sale Price between 2021-2024

Over the period between 2021 and 2024, new sales condos in District 19 have witnessed substantial price appreciation, with average prices rising from $1,442 PSF in Q1 2021 to $2,098 PSF in Q3 2024 , representing a 45% growth over the 3.5-year period . Transactions averaged $1,848 PSF during this time, reflecting strong demand and investor interest. While the market faced a dip in Q1 2023 - due to cooling measures and rising interest rates - the recovery has been steady, driven by the district’s excellent connectivity to central areas, amenities and reputable schools.

Chart: Average Transacted PSF of Condo New Sale in District 19 from 2021-2024 by quarter. Source: RealInsight

Notably, the prices for larger units—specifically 3- and 4-bedroom configurations—have shown consistent and robust growth during this period. This trend reflects the sustained demand for spacious living options in District 19, where supply for larger units has been limited in the past few years.

Table: Average Transacted Price PSF by Bedroom Type of New Launch Condos in District 19 from 2021-2024. Source: RealInsight.

The recent new launch projects in D19 like Jansen House, Kovan Jewel, Bartley Vue have seen launch price at around $1,900 - $2,150 PSF. These developments are sold at the higher end of the market, reflecting both the premium nature of the projects and the strong demand within the district.

Table: Average Transacted Price PSF by Bedroom Type of Jansen House, Kovan Jewel and Bartley Vue from 2021-2024. Source: RealInsight.

The Chuan Park’s En Bloc and Development Cost Analysis

The Chuan Park New Launch sits on the former site of a 444-unit development that was acquired through a collective sale in 2022 for $890 million - the biggest collective sale deal in 2022. With a land area of approximately 400,588 sqft and a plot ratio of 2.1, the site was sold at a rate of $1,256 PSF PPR.

Expected Launch Price of The Chuan Park Condo

Given its excellent connectivity to Lorong Chuan MRT station, proximity to reputable schools, and accessibility to central areas, it is anticipated that the starting price for units at The Chuan Park will be approximately $2,500 PSF. The project is expected to be popular among both investors and families, especially since it offers larger units—4- and 5-bedrooms—that have been in limited supply since 2020.

Looking to live in District 19? Explore the area and what you can do here.

*Data is accurate as of the published date of this article.

All analytical and visually interpreted data in this report is powered by RealInsight, a powerful tool for property developers, investors and institutions. It offers a complete solution for development planning or portfolio building by providing access to real-time data regarding properties, developers, land sales and data analytics tool for market research and reports. Find out more about RealInsight here.

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