Review: Daintree Residence
Updated: 6 days ago
Beauty World represents a very interesting outlook on Upper Bukit Timah Road. This is because it lies on the crossroads of Upper Bukit Timah Road, which is the heart of the Beauty World region.
It quietly preserves its natural surroundings with lush greenery, yet at the same time, counters it with the modernization of its facilities. At the present day, you will notice that old shopping malls like Beauty World Centre and Bukit Timah Plaza, which was built in the 1970s-1980s.
These aging buildings are definitely not the only ones left, and Beauty World is undergoing rapid revitalization to bring new life into the place. As covered in the Jalan Anak Bukit Tender Site review, the Beauty World area is flanked by many of Bukit Timah’s natural attractions, such as the Coast-to-Coast trial, Rail Corridor and Rifle Range Nature Park.
As of the date of writing – 09 July 2020, Daintree Residence have well sold over 49.54% of its total units. There is a total of 327 units located in this development.
UPDATE: The Daintree residence review was last written almost one month back, and I feel that it is a good idea to revisit this review for any inconsistencies. As of today (30 August 2020), Daintree Residence has sold 74.01% of its total units. Shocking how in a span of one month can there be such a huge difference! There are not many balance units left in Daintree Residence, so do take action soon if you are interested in this development.
Similarly, to my past reviews, I tend to focus more on the extrinsic properties of the new launch development rather than the internal aspects such as the floor plan, facilities, etc. This is because such information is available from any agent. This review serves to provide you with information on how this development will impact you financially.
What Makes it Attractive?
Daintree Residence price starts from $1545 PSF at launch. This is a very low starting price as compared to other new launches in the vicinity.
This is possible due to the low land sale price of $939 PSF. Goodluck Gardens reached a land sale price of $1,216 PSF.
Purchasing the land at a lower PSF allows the developer to sell at a more affordable price in comparison to the other new launches in the area.
In regards to the land site, there are over 24 bids from real estate developers. This shows that the site is very promising and is well expected to be favored by potential buyers. Daintree Residence is located within walking distance of Beauty World MRT station and yet situated within the prime Bukit Timah residential enclave.
UPDATE: Daintree Residence price has remained similar since it was last reviewed, and this is no doubt due to the fantastic response over the last month.
Still, I feel that Daintree Residence still makes for a fantastic purchase. Another new launch called Verdale (Presently writing a review on it, be sure to check back often) is entering the market soon, I doubt that it will impact prices of Daintree Residence, as it is located slightly further down, along De Souza Avenue.
UPDATE V2: My review of Verdale at De Souza Avenue is ready! Please check it out here. I believe you should not miss out on this review as it is very similar in comparison to Daintree Residence.
Suitable for Families
Based on the proportion of units developed by Setia (Bukit Timah) Pte Ltd, Daintree Residence is more skewed towards 2 Bedrooms and 3 Bedrooms. I believe this is because the area is traditionally being surrounded by good schools and are unlike bustling areas such as Paya Lebar and Tanjong Pagar, where 1 Bedroom units are favored more for rental purposes.
In addition, there are 4 primary schools located in close proximity, less than 2km away from Daintree Residence. This makes it a good choice for parents who are selecting for placement into these schools for their children.
Tertiary Institutions like Ngee Ann Polytechnic is located about 2.5 km away.
Daintree Residence is located less than 1 km from major road networks like Pan Island Expressway, Jalan Anak Bukit, and Dunearn Road.
Beauty World MRT station is also located within walking distance from Daintree Residence.
UPDATE: The Cross-Island line is to be an exciting new development, which cuts directly through Tuas-Clementi-Hougang and Pasir Ris. This presents further improvements to connectivity.
The Jalan Anak Bukit Tender Site review which I have wrote on also covers the integrated transport hub, which will further improve on the connectivity for Daintree residence occupiers.
Daintree Residence Floor Plan
UPDATE: This might not be an advantage for property investors, but I feel that Daintree residence floor plan presents with a good mix of "dumbbell", "standard", "high ceiling", "dual key" and "private lifts" for its buyers.
These are not all of the floor plans but are the key ones that I believe are worth mentioning. Contact me for an in-depth discussion
Future New Launches (Increased Supply)
While it is true that there is pent-up demand in regards to non-landed project launches in District 21 since The Creek @ Bukit was launched back in December 2013, 2019 and 2020 have brought forward many ongoing new launches such as Mayfair Modern, Mayfair Gardens and View at Kismis.
In my opinion, these project launches were done in such a tight timeframe that potential sales might be affected. I feel that this purchase should not be done with the objective of a quick flip but rather, for it to be owner-occupied for families.
However, this might lead to healthy competition between the different real estate developers, and healthy discounts will be released. This is already evident during the current COVID-19 pandemic, with many developers doing so.
New launches such as The Linq @ Beauty World and the future development at the Jalan Anak Bukit tender site might be a worthy competition in about 5 years when it is released. This is because they are located right at the heart of Beauty World, which makes it very convenient for its occupiers.
However, we believe that launch prices for these condos will roughly be around $2000-$2200. This is the tradeoff for its convenience.
UPDATE: A new development called Verdale will be launched soon, you might have seen the marketing materials already. However, I'm doubtful it will have much of an impact on Daintree Residence.
Mortgage Repayment Numbers
This price on a 3 Bedroom (1001 sqft) is at $1,665,160. In the view that this will most likely be purchased by investors who have an existing property count, we will be adding in 12% ABSD, which is the tax for this purchase being the second count for Singaporeans. Legal Fees of $2,000 will be the rough average. Should you be not paying for any ABSD, simply subtract that amount.
The bank loan interest rate is currently based on fixed loan rates given at this point and is subjected to changes.
Take note that these numbers are only for illustration and are not finalized.
Daintree Residence makes for an exceptional purchase as it is one of the first few in the wave of new launch properties in District 21. However, its release is quickly followed by a wave of other new launches within the next two years. This might bring some competition in regards to rental opportunities. We recommend that Daintree Residence should be purchased by families for their own occupation instead of investors looking to flip the property to earn from capital appreciation.
Its launch pricing is very attractive, and it will still provide a better rental yield as compared to the other new launches if you are keen on renting the unit out.
Are you keen on finding out if Daintree Residence is an ideal investment for your specific financial circumstance? Contact me at +65 96329840 or send your queries to email@example.com! I will be able to provide you more information on the development such as the floor plans and provide in-depth mortgage calculations to see if this property purchase is a good option.
Got your numbers down? I will like to invite you down to the Daintree Residence showflat for viewing!
The views, thoughts, and opinions expressed in the text belong solely to the author, and not necessarily to the author’s employer, organization, committee, or other group or individual. The author does not accept any responsibility whatsoever for any harm or loss arising from accessing or relying on information contained in this blog post.