Tengah EC Review is a luxury Executive Condominium, situated at Tengah Garden Walk in Tengah Town’s heart. The Executive Condominium is situated in one of Tengah’s most sought after new township, with greenflies and bright features added in the Urban Redevelopment Authority (URA) of Singapore’s most recent Master Plan.
Situated in district 24, that has just been launched by a renowned developer. The site area of this home is 22,020.8 square meters, with a maximum gross floor area of 61,659 square meters. There are 615 Executive Condominium units in the building, with units varying from the cozy 1-bedroom to the lavish 5-bedroom.
Tengah Town will be one of the first executive condominium to benefit from these new features as Singapore transitions to a green city, with many green features and sustainable Eco-features. Tengah Garden Walk EC will be a part of the one-of-a-kind transformation of Tengah Town, where a good mix of technology and nature is looked after by a wealthy Executive Condominium Investor like Tengater Garden WalkEC, which is placed near Tengaha MRT Station.
The Location of Tengah Garden Walk
The location of Tengah Garden Walk is classified as an “EC”, which stands for “Executive Condo”.
There are a lot of questions around the EC product:
• Is there a market need for this?
• Is this a product you can sell?
• Will it bring in any revenue (if so, why)?
• What kind of product can you sell here? Is this the right place to start?
The answer to these questions depends on the answers to some others… The EC product has two key characteristics: (1) it is an executive or upscale condo unit; and (2) it is located in Singapore. The location also allows for better space planning, which will make the project more effective from a design and operational perspective. I believe that all three elements combine to make it an ideal target market for Tengah Garden Walk. It should be noted that whether or not these characteristics are true for your project depends on your product and its features. What follows below will focus on the first two elements.
Where does this condominium fit into our target market? What unique qualities do you have that other similar projects don’t?
First, let’s get specific about what we mean by “executive/upscale condo unit” — basically, one with a dedicated space set aside in a building designed to house them (which means: no community amenities or common spaces like gym, pool club, etc.). This condo will likely be furnished with modern amenities like large windows and good lighting. These usually come at a premium price and are quite hard for us to offer (since most developers don’t want their units marketed as luxury). However, you can probably get away with offering them at below-market rates if you offer pre-leasing options such as early bird discounting. And remember when we said that we are setting out to define a new market — well now we have some insights into what that market needs! For example, many of our potential clients already work outside of Singapore and would benefit from having access to better amenities than those offered by their offices here – they need something more than just coffee machines in communal areas! On the other hand, if they prefer their own space and don’t mind paying premium prices then Tengah Garden Walk is right up there with other options in terms of luxury condos!
Second, let us talk about condos being
About the Price of Tengah Garden Walk
New condos are getting more expensive, with an average price of $1.17 million for a two-bedroom condo and $1.62 million for a three-bedroom unit, according to data from the Singapore Land Authority (SLA).
On the whole, luxury condo prices are on the rise in Singapore, which is still a relatively affordable place to live if you don’t want to be rich (a few years ago it was less so). The average price of a two-bedroom unit of Tengah Garden Walk in Kallang went up by 16 per cent to S$2.21 million in the past year, while the average price of a three-bedroom unit increased by 26 per cent to S$2.67 million.
The increase in prices is not uniform across the board; three-bedrooms are going up faster than two-bedrooms, and one bedroom apartments have not seen any significant change in price over the past year. Some analysts attributed this to investors “spending more” on these types of units rather than purchasing cheaper ones because they know they will appreciate in value over time (and will be able to sell them for much more later).
Tengah Garden Walk is located near Orchard Road and is already home to some of Singapore’s biggest names: there’s also Harrods Department Store and Vogue Records — though there are rumours that Harrods may be moving into Tengah Garden Walk next as well.
The new condos are priced competitively but not outrageously: it’s usually five figures cheaper than other areas like Little India or just outside Chinatown (where most new luxury developments are located), though this may change as developers try to unify pricing across different areas with similar amenities such as parking spaces and elevators.
Site Plan of Tengah Garden Walk
A few months back, we did a survey of the people who were interested in buying a condo in Tengah EC.
The responses showed that most people wanted to buy or rent a condo. But they were not sure where they could find one. The reason is that there are currently no condos available to rent or buy in the area.
We felt that there was a market demand for rental and condo units, and so we designed the website tengahgardenwalk.com to serve this.
This site is about building an eco-friendly condo unit in Tengah gardens at EC Singapore, with eco-friendly features such as rainwater harvesting and solar panels on the roof.
You can read more about our project, including how you can become involved in it, here: https://tengahgardenwalk.sg
It may sound like a little thing but it is pretty meaningful for us because I think EC will become the first eco-friendly housing project in Singapore.