Pasir Ris 8 is an upcoming 487-unit mixed-used development located right next to Pasir Ris MRT on the East-West Line (EWL) and above the Pasir Ris Bus Interchange. Read our review here.
Interested in this project? Visit our listings page.
Project Name: Hundred Palms Residences
Address: Yio Chu Kang
Type: Executive condominium
Site area: 198, 519 sq ft.
Tenure: 99-year leasehold
District: 19
Configuration: Approx. 531 units
Unit Types: 60, 3BR+study+yard
178, 3BR+utility+yard
203, 3BR+yard
60, 4BR+utility+yard
30, 5BR+utility+yard
Expected TOP: 2020
Hoi Hup Realty Pte. Ltd. has vast experience in commercial, hotel and residential developments in Singapore since its inception in 1983. Hoi Hup counts developments like Royal Square Novena, Sophia Hills and Water Residences as part of their extensive port folio.
Project Details
Propshort: With no 1 & 2BRs, the other units are therefore larger and in the case of the 3BR + utility + yard, have slightly unique layouts. Regardless of the layout, all units are designed tastefully, with some having alfresco dining areas while others come with high ceilings.
Hundred Palms Residences does two things differently from most other executive condominiums; 1) it eschews 1 & 2-bedrooms, choosing instead to offer only 3 to 5-bedroom units and 2) it’s firmly situated within a matured estate.
The showflat is located one traffic stop before Bowen Secondary school but the actual site is the empty plot of land between Regentville condo and Bright Vision Hospital. Construction has already begun.
Hundred Palms is also unique in that all its units are orientated to the north-south and thus, are not afflicted by the west sun at all. It is also considered a smart home, with common smart-home features such as a digital lock, IP camera, light and air-conditioner control which are handled through the residences’ private app.
The showflat is currently undergoing preparation for launch, which is anticipated to be soon. There are two showunits for viewing; 3-bedroom + utility + yard and 4-bedroom + utility + yard.
3-bedroom + utility + yard (1,130 sq ft.)
One of the benefits of not including 1 and 2-bedroom units means more family-sized units can be built and these units, like the 3-bedroom one, might be bigger than some of their competitors. The extra space however would account for nothing if the living spaces weren’t up to standard.
Lack of living space, fortunately, is not an issue that plagues Hundred Palms Residences. Billed as a resort type executive condominium, the atmosphere of the unit exudes a certain calm, despite being in a matured estate.
Part of that comes from the warm colours of the furniture but most of it is affected by the expansive living area where clear demarcations for the living and dining room exists.
The dining area is closest to the door but due to the layout, there’s a small corridor from the door before the turn into the living room proper. What this does is it gives the residents a measure of privacy. In addition, the dining area can easily accommodate a table for six.
As for the living room, it is next to the balcony and as such, benefits from plenty of natural ventilation and light.
The balcony curves backward toward the kitchen and is therefore accessible from both the living room and kitchen. This style is reminiscent of a patio where residents can have some form of alfresco dining as and when they want.
The kitchen is likewise spacious, in large part due to the linked balcony and that the yard and utility spaces which are commonly attached to the kitchen, is separated.
The result is an uncluttered kitchen where two people can be in at the same time, comfortably, without getting in one another’s way. The usual provisions of sink, tap, cooker hood, hob and built-in oven are provided.
As for the aforementioned utility/yard/wash centre, it is located across the first common bedroom. The placement of the yard area is strange but it does open up a unique opportunity for residents to completely overhaul this area and turn it into a proper bedroom, or even a study room if they so wish.
The good thing about this design is not just the added functionality that comes as a result of where the yard is located, but also that valuable space isn’t taken up in the kitchen. It’s a smart design that takes in consideration movement and comfort of the resident.
Every common bedroom across all unit types are big enough to take in a queen size bed with space for additional furniture such as a hanging shelf to be built. Since the rooms are big enough for this bed size, the consensus is that with a single bed, there’s ample room for a work station and book shelves.
The floor to ceiling windows also do much to dispel the confines of the space through the large admittance of natural light.
This 3-bedroom unit type does not come with a balcony for the master bedroom which, may be considered as a negative. However, it does mean that the bedroom has more space, proportionate to the unit size.
The attached bathroom has a portal wide enough for a wheelchair and proper wet and dry areas with a curb surrounding the wet area to prevent water from seeping out through the door.
It’s a good solid design with a cosy aesthetic; two important things to achieve for a bathroom. Floors are all porcelain tiles, save the bedrooms which are vinyl.
4-bedroom + utility + yard (1,432 sq ft.)
At 1,432 sq ft., this is the largest 4-bedroom unit available at Hundred Palms.
The high ceiling here also allows residents to build their own furniture deck or platform for extra verticality. Or, chandeliers or hanging lights will do just fine. Either way, the high ceiling is a nice touch.
And since it is also next to the balcony, there’s no shortage of natural light and ventilation. Additionally, the living and dining areas are set within the same space and are visible from the main door, units on higher floors especially will have plenty of light and wind, during cooler months.
The kitchen is at least twice the size of the kitchen in the 3-bedroom. It has an ‘L’ shape and at the tail end are the pantry/maid’s room and wash centre.
The kitchen does feel more narrow when compared with the 3-bedroom, but that is due to it elongated nature.
Common bedrooms are more of the same, which isn’t a bad thing at all. The master bedroom however is different, in that it has its own balcony.
The balcony continues Hoi Hup’s mandate of making Hundred Palms look like a resort. It does present itself as such at the showflat. The master bedroom can also handle a king size bed easily, and with ample space for mobility.
A wall-mounted television, counter top or even a book shelf won’t be out of place here. One of the areas reserved for a side table might even double up as a small work-station.
As for the master bathroom, it is wheel-chair friendly like the 3-bedroom with the design sensibilities for a cosy and clean-looking bathroom.
And that’s the consistent thing about Hoi Hup’s Hundred Palms EC; its design while not breaking any new ground, is good and solid. The EC looks like a condominium but bigger, spacious and significantly more affordable.
Interested in this project? Visit our listings page.
Location
Propshort: Located along Yio Chu Kang Road, Hundred Palms is the first executive condominium in Singapore to be developed within a mature district with all the bus services running and a nearby heartland mall – Hougang 1 – about a nine-minute walk away. There are also schools within the 1KM range.
Hundred Palms Residences by Hoi Hup Realty is a new executive condominium (EC) launching within the busy Yio Chu Kang of district 19, sometime in June 2017. It is the first EC to be launched in this area, and is also the first EC to take root in the middle of a matured district as opposed to the outskirts.
While this may inadvertently influence prices, it also puts future residents in an area surrounded by amenities that are within walking distance. This makes Hundred Palms Residences unique by existing EC standards.
Hundred Palms Residences is along Hougang St 92 and Hougang Ave 9 which leads into Yio Chu Kang Road. This is particularly noteworthy because directly across from Hougang Ave 9 is Hougang 1 mall.
With its refurbished look, it is the lifeline of residents in this area. Many restaurants and fast-food chains like MacDonald’s are available here, alongside NTUC Xtra and Kopitiam.
Hundred Palms actual site is next to the special needs AWWA School and Bright Vision Hospital. Bowen Secondary School along Lorong Napiri is about a five-minute walk away. Other schools within the 1 to 2KM radius of the EC include Rosyth School, St Vincent de Paul Kindergarten, Xinmin Primary and Xinmin Secondary schools.
Other schools are also in the vicinity such as Hougang Primary and Secondary (located along Hougang St 91 & 93), Yio Chu Kang Primary and Montfort Secondary.
For an EC to be surrounded by existing amenities is a huge boon for buyers looking to upgrade from their HDB or even first-time home buyers who may exceed HDB’s income ceiling but aren’t quite there yet for condos. Hundred Palms Residences is expected to be an attractive draw.
Interested in this project? Visit our listings page.
Analysis
Update: Hundred Palms Residences sold 100% of its units within seven hours of sales booking commencement.
Until Hundred Palms launches, all prices and calculations listed here are taken as projections. The indicative price range however, is provided by the developer and so potential buyers can expect 3-bedroom units to cost anywhere from SGD715,000 to SGD975,000.
4-bedrooms and 5-bedrooms cost anywhere from SGD1,030,000 to SGD1,130,000 and SGD1,188,000 to SGD1,288,000 respectively.
Hundred Palms Residences is the only executive condominium to be built in this area and so, by virtue of its property type, it has no direct competition. Regentville, its next door neighbour, is a 99-year leasehold condominium as of 1996. Its resale transactions are also modest, from a relatively low SGD660,000 for a 980 sq ft. unit to the pricier but still affordable SGD820,000 for a 1,152 sq ft. unit.
Other factors however will come into play, such as layout and design. Hundred Palms as the newer development will be a much better investment, especially since as an EC, it stands the higher chance of appreciating more positively, than an old condominium that may or may not have an en bloc in the future.
Rental
According to URA data, the monthly median psf is SGD2.84. Using the smallest unit of 883 sq ft., median monthly rental with a 20% new build premium added averages out to SGD3,000. Using SGD975,000 as a gauge, annual median rental yield is at 3.6%.
It is important to note that URA does not provide data or rental yield calculations for ECs. The data used comes from condominiums and are meant to serve merely as a gauge as to the viability of investing in the area, as opposed to the development proper. Buyers will need to visit the showflat and determine the other factors of the development aside from the data if Hundred Palms is worth it.
Historically however, ECs have a better appreciation rate than condominiums since after the first five years when the MOP is up, prices tend to appreciate and after the 1oth year when the EC is automatically turned from being under HDB to being a private development, prices have usually seen an increase.
But as this is the first EC to be built in a matured district, the scope of its appreciation may be hindered by the fact that there won’t be as many new developments in the area as opposed to an EC being built in an up and coming sector of Chua Chu Kang, for example.
Interested in this project? Visit our listings page.
Summary
Nothing written above can suggest that Hundred Palms is not viable. As a family home, it is perfectly fine. The proximity to Hougang 1 Mall and the grocery store is a plus. In addition, several schools within walking distance is a boon for parents.
The prices are still affordable where condominiums are concerned. The maturity of the district influences the price and so it is expected that Hundred Palms would come at a higher quantum than its peers.
For all its merits, Hundred Palms is expected to be popular. (Editor’s note: It was popular given its 100% sold out status as of 22 July 2017) The EC has a full suite of condo facilities, more expansive than other condominiums too. Its carpark is underground so as to save valuable space on the surface and there is a gardening area for residents to grow and harvest their own plants.
In addition, all units face away from the west sun and there are smart home features included with the units. It will be exciting to see how Hundred Palms fare in this current climate, but it has much going for it, least of which, are the surprisingly few new launches in 2017 to contend with.
Interested in this project? Visit our listings page.