Sky Habitat is a 509-unit development along Bishan Street 15, known for its iconic design and architecture. Designed by famous architect Moshe Safdie, the project features unit sizes ranging from 1- to 4-bedroom and penthouse units.
CapitaLand is one of Asia’s largest real estate companies headquartered and listed in Singapore. Its diversified global real estate portfolio includes integrated developments, shopping malls, serviced residences, offices and homes. Core markets include Singapore and China with Indonesia, Malaysia and Vietnam being potential new growth markets.
Project Name: Sky Vue
Address: Bishan Street 15
Site area: Approx. 129,136 sqft
Tenure: 99 years
Configuration: 694 units
120 1-bedroom units (484 – 592 sqft)
200 2-bedroom units (678 – 850 sqft)
192 2-bedroom suite units (797 – 915 sqft)
174 3-bedroom units (1,141 – 1,259 sqft)
8 penthouse units (1,744 – 1,905 sqft)
Maintenance fees: Approx. $265 – $424
694 normal lots
6 handicap lots
Expected TOP: October 2017
Expected legal completion: October 2020
Sky Vue is a 694-unit development along Bishan Street 15. At time of writing (Nov 2015), 2- and 3-bedroom and penthouse units are available.
Unit sizes range from 1- to 3-bedroom and penthouse units. The lowest-priced unit on PropertyGuru is a 484 sqft 1-bedroom unit going for $760,000, which translates to around $1,570 psf. A 1,905 sqft 4-bedroom penthouse unit is going for $3,450,700 at an estimated $1,811 psf.
The show flat is just opposite the project. However, as of last week, it has been closed to the public.
Construction for the project is underway and the blocks are already standing.
The project consists of two 37-storey towers with one level of basement and five levels of podium car parking.
Facilities are spread out over the ground floor, 7th floor and 37th floor.
For functions or family gatherings, there are party rooms, the dining pavilion, BBQ pits, function rooms and the dining pavilion with party lawn. Of course, the sky lounge is also an option.
The layout is such that both blocks have equal access to most facilities. Stacks 12, 16, 18 and 20 may have a bit of a premium as they have direct access to the sky lounge and sky gym.
An aerial view of the towers. The spaces at the top make for ideal relaxation areas or even potential party spots.
Residents can head to the sky lounge or sky walk after a long day at work to relax and enjoy the view.
Showflat units are available for 1-, 2- and 3-bedroom units. Photos in this review are from all units.
- homogenous and/or ceramic tiles with composite timber skirting for living, dining areas, dry kitchen and hallway (and for bedrooms in 1-bedroom units)
- marble tiles with matching skirting for living, dining areas, dry kitchen and hallway in penthouse units
- homogenous and/or ceramic tiles for all bathrooms, powder room, kitchen and water closet
- timber parquet or laminated flooring with composite timber skirting for all bedrooms (except in 1-bedroom units)
- homogenous and/or ceramic tiles with matching skirting for private enclosed space (PES), balcony, utility and yard
- fire-rated timber door for entrance
- hollow core timber door for all bedrooms, bathrooms and powder room
- timber-framed glass door for kitchen
- low metal grille gate for PES
- aluminium-framed bi-fold door for yard, utility and water closet
- aluminium-framed glass door for balcony
- wash basin and mixer tap, shower screen with shower mixer set, water closet, mirror, towel rail and paper holder for all bathrooms (except for 1-bedroom units)
- wash basin and mixer tap, shower screen with integrated handle and towel rail and shower mixer set, water closet, mirror and paper holder for 1-bedroom units
- 2 sets of wash basin and mixer tap and a bathtub in addition to the others for penthouse units
- wash basin and tap, water closet, mirror, towel rail and paper holder for powder room
- wash basin and tap, hand shower set, water closet and paper holder for water closet
- built-in wardrobes for all bedrooms
- shoe cabinet for each unit
- wall-mounted air-con from Mitsubishi Electric for living, dining and family areas, bedrooms and study
Cabinets with solid surface countertops and a stainless steel sink come with the kitchen. Appliances provided include a built-in oven and a gas cooker hob and hood, a refrigerator and a washer cum dryer, all from Electrolux. The kitchen in the 1-bedroom unit is an open kitchen and it is right beside the entrance. Smaller units come with an induction stove and microwave oven instead.
Just beyond the kitchen is the living area. Backing your couch against the wall frees up more space and lends the unit a neater look.
The master bedroom is to the left of the living area and can comfortably fit a queen-sized bed.
Residents will like the fact that all units at Sky Vue come with a walk-in wardrobe.
Bathrooms in the 1-bedroom units are aesthetically nicer than those in the 2- and 3-bedroom units. There is a wet and dry area as per normal and fittings are from Bravat.
The kitchen in the 2-bedroom suite unit leads to the balcony and can similarly only accommodate one person at a time. Here, you get a gas stove instead and a microwave oven.
The living space in the 2-bedroom suite unit extends to the balcony, with the dining area just behind, next to the kitchen.
The common bedroom can just about fit a queen-sized bed.
The balcony extend to the master bedroom as well. The room can comfortably accommodate a queen-sized bed.
The walk-in wardrobe is right beside the room, with the master bathroom to its right. The master bathroom is similar to that in the 1-bedroom unit.
The common bathroom can fit one person at any one time. The design for the shower area is probably due to the given space available.
The kitchen in the 3-bedroom unit is more spacious and two people can move around in it at any one time.
The kitchen is connected to the utility and water closet area in the 3-bedroom units. There is also ‘yard’ space where you can have your washer cum dryer.
The living area in the 3-bedroom unit is much bigger compared to those in the 1- and 2-bedroom units. Overall, the arrangement of the unit is more conventional.
The common bedroom can realistically only fit a single bed. Going for a queen bed in this instance may be pushing it.
You could go with the loft option to maximize space and functionality. Kids especially, will love this.
The master bedroom can just about fit a king-sized bed. If you want room for movement however, going with a queen bed may be more practical. The room comes with a balcony as well.
The wardrobe space is bigger in the 3-bedroom unit. Some residents may particularly like this feature.
The master bathroom is pretty decent-sized and can perhaps accommodate two people at once. The common bathroom is a replica of the one in the 2-bedroom unit.
All units come with a shoe cabinet near the entrance.
Buyers are likely to be a mix of owner-occupiers and those looking to lease. An estimated 50% of buyers appear to be HDB upgraders. Singaporeans and permanent residents account for over 90% of sales. Sales at Sky Vue had a great start when almost 80% of launched units were snapped up by buyers over its launch weekend. Since then, the project has had a slow but steady stream of buyers.
For 1-bedroom units, stacks 13 and 14 are premium stacks that are inward-facing and enjoy a full pool view with direct access to the sky gym and sky lounge.
For 2-bedroom units, stacks 12, 15 and 17 are premium stacks with the same features as above. Stack 7 is inward-facing and has a full pool view too, but no direct access to the sky gym and sky lounge.
For 2-bedroom suite units, stack 6 is inward-facing with a full pool view. Stack 16 is outward facing with a partial pool view.
If you’re eyeing a 3-bedroom unit, stack 5 is ideal, with a partial pool view. Stack 18 is outward facing with a partial pool view.
Lastly, stacks 12 and 16 are ideal for the penthouse units. They are inward-facing and enjoy a full pool view with direct access to the sky gym and sky lounge. Stacks 5 and 8 are inward-facing with a full pool view, but no direct access to the sky gym and sky lounge.
Etymology: Bishan is a neighbourhood in the central region of Singapore, covering 743 hectares of land. It is bounded by Ang Mo Kio Avenue 1, the Central Expressway (CTE), Braddell Road and the west end of Upper Thomson Road.
Constructed over what used to be a cemetery, there was initial trepidation that the HDB flats would face poor occupancy. These fears were unfounded and Bishan became one of the most popular towns when built. Today, residential prices in Bishan are above-average because of the town’s accessibility.
Bishan got its name from the Cantonese term for large burial ground, Peck San Theng which translates to ‘pavilions on the green’. The term reflects the area’s origins as a burial ground that was established in 1870 by Chinese immigrants from Canton. Redevelopment of the neighbourhood began in the 1980s, to provide public housing for the then growing population.
Getting there: Location is a very big selling point for Sky Vue, as a city-fringe project. If you’re travelling by train in the mornings, Raffles Place MRT is a 20-minute ride from Bishan MRT. You will also enjoy easy access to major expressways, so connectivity is enhanced.
Turning left will get you to Junction 8 and Bishan MRT in less than a minute. Turning right at the next junction will get you to the CTE, also in under a minute. The Central Business District (CBD) area is an 11-minute drive away via the CTE.
The view of two major projects by CapitaLand – Sky Vue on the left and Sky Habitat right next to it – is certainly quite beautiful.
Bishan MRT is a 3-minute walk away. From there, it is a 10-minute ride to Orchard MRT, where you have the entire Orchard Shopping Belt. For early morning commuters, Raffles Place MRT is eight stops away. Residents will have direct access to both the North South Line and the Circle Line from Bishan MRT.
The estate: Sky Vue is situated in the heart of Bishan, and mostly surrounded by residential and commercial area. Although there is open space behind the project currently, the land is reserved for residential developments according to the 2014 Master Plan drafted by the Urban Redevelopment Authority (URA).
Sky Vue’s location caters to a wide spectrum of interests and lifestyles. It is right next to Junction 8 and a 10-minute drive to shopping paradise Orchard Road. Bishan Sports and Recreation Centre is a stone’s throw away. Nearby Bishan Active Park and Bishan Ang Mo Kio Park also provide respite from the city’s hustle and bustle.
There is a bus stop right in front of Sky Habitat with services 53 and 410. 53 is a loop service that starts from Bishan Bus Interchange, goes all the way to Changi Airport before returning to Bishan. In between, areas covered include Serangoon, Ang Mo Kio and Pasir Ris. 410 is a feeder service covering different parts of Bishan.
As for school options, there are a few reputable ones nearby.
- SJI International School
- Australian International School
- Stamford American International School
Junction 8 is a 3-minute walk away. Anchor tenants include Golden Village Cinemas, BHG, Fairprice Finest and Popular Bookstore. The mall boasts 174 stores.
Other nearby malls include Thomson Plaza, Ang Mo Kio Hub and NEX.
Bishan Bus Interchange is just across Junction 8, making the area almost like an integrated transport hub. Residents will definitely enjoy the convenience and easy connectivity to other parts of Singapore.
Bishan Pubic Library is also right next to Junction 8. Students looking for a quiet place to study or even just read after school or during the weekends can easily head there.
The nearby Bishan Ang Mo Kio Park is the perfect place for some calm and greenery, especially since there is going to be some construction in the land space behind Sky Vue in future.
Other recreational amenities near the project include Bishan Community Club, Bishan Harmony Park, MacRitchie Reservoir Park and the Singapore Island Country Club. Asian Golf Academy is a 4-minute drive away for the golfers.
SAFRA Toa Payoh is a 6-minute drive away. Kids will enjoy the indoor playground (Kidz Amaze) and the bowling facilities at the site. There is a KTV lounge and a few dining options there too, making for good family fun.
As for healthcare needs, Tan Tock Seng Hospital is an 8-minute drive away. Toa Payoh and Ang Mo Kio Polyclinics are each a 5-minute drive away. There are also a number of general clinics around Bishan Central.
Caveated transactions for Sky Vue at time of writing (Nov 2015) stands at 516. Recorded transaction prices range from $676K to $3.427M, with an estimated 78 percent of the transactions coming in at $1.5M or below (see Chart 1).
Sky Vue’s closest competitor would be Sky Habitat, located right next to it. Launched in early 2012, its median price for the past four quarters is $1,632 psf to Sky Vue’s $1,421 psf. Residents at Sky Habitat are likely to be a mix of owner-occupiers and tenants who like the centrality of the location.
Units at Sky Habitat range from 1-4 bedroom units and penthouse units while Sky Vue consists of 1-3 bedroom units and penthouse units. Sales for Sky Vue have been particularly good in the past month, after a 10% discount was implemented for certain units.
To have a clearer picture, we will be looking at 3-bedroom and 1-bedroom units in particular, across both developments. According to caveats, Sky Vue’s 3-bedroom units have a median price of $1,394.5 psf while Sky Habitat’s is $1,394 psf. Transactions for the units at Sky Vue range from $1.47M to $1.95M, and from $1.54M to $1.96M at Sky Habitat.
As for 1-bedroom units, Sky Vue’s have a median price of $1,522 psf while Sky Habitat’s is $1,527 psf. Transactions for the units at Sky Vue range from $676K to $929K, and are between $975K and $1.32M at Sky Habitat.
Before deciding based on these numbers alone, we should look at unit sizing as well. Overall, units at Sky Habitat have more generous proportions. 3-bedroom units range from 1,216 sqft to 1,776 sqft and 1-bedroom units are between 635 sqft and 969 sqft. At Sky Vue, 3-bedroom units range from 1,141 sqft to 1,259 sqft and 1-bedroom units are between 484 sqft and 592 sqft.
In terms of sale prices alone, Sky Vue is the more affordable option.
Future Rental Potential
To understand what rental prices will be like for Sky Vue, we need to look at rental prices for other projects in the area.
The current median rental price for projects in District 20 (Bishan / Ang Mo Kio) is around $3.05 psf per month at time of writing, based on rental transactions for the past 4 quarters. At these rates, a 3-bedroom unit around 1,200 sqft at Sky Vue would go for around $4,400 to $4,600 a month, after factoring a 20% premium for its new build. With the median price for the unit being around $1.591M, the annual gross rental yield at the current rate would be an estimated 3.4%.
For investors holding on to 1-bedroom units, rental price for a 550 sqft unit at the current rates would be an estimated $2,100 to $2,300 a month. With the median price for the unit being around $753K, annual gross rental yield would be around 3.5%.
The median unit size of a 3-bedroom at Sky Habitat, on the other hand, would probably fetch around $5,400 a month at today’s rental rates. This translates to around 3.8% in annual gross rental yield. A 1-bedroom unit at Sky Habitat would go for an estimated $2,600 a month, meaning a 2.9% rental yield.
According to the estimated figures, Sky Habitat seems to have a higher rental yield for the 3-bedroom units and Sky Vue for the 1-bedroom units. With both projects being side by side, the choice of nearby amenities would be all the same. The unit mix is pretty much the same as well, with Sky Habitat offering the additional 4-bedroom units. Unit sizing however, varies quite a bit, with units at Sky Habitat generally being larger.
Overall, Sky Vue seems to be a safer bet in terms of rental yield.
Location is Sky Vue’s biggest pull factor. Bishan MRT, Bus Interchange and Junction 8 are all a 3-minute walk away. Bishan Sports Hall is just opposite the development. Orchard Road is a 10-minute drive away and the CBD just about a minute longer.
Residents will also enjoy easy access to major expressways like the CTE and PIE as well as arterial roads like Braddell Road, Upper Thomson Road and Marymount Road.
Reputable schools including Raffles Institution and Catholic High are within a 2-km radius and there are a host of other primary and secondary options too.
In terms of unit layout and sizing, CapitaLand made a calculated move to keep lump sum prices within the reach of a larger pool of buyers, by having smaller units and a larger proportion of these units. Because of this, Sky Vue’s pricing is lower than its neighbour, Sky Habitat’s.
The 37-storey development will tower over neighbouring HDB blocks and the mall. Its only rival is Sky Habitat, right next to it, to the east. West-facing stacks like 3 and 4 may encounter a bit of afternoon sun in the units and east-facing stacks like 11 and 21 will have Sky Habitat right ahead of them. The distance between the projects is approximately 40 metres, so that shouldn’t be any issues.
Higher floors in north-facing stacks 18, 19 and 20 will definitely have panoramic views. West-facing stacks however, may potentially have their views obstructed in future, with upcoming residential developments.
Investment potential for Sky Vue is high and 1-bedroom units are already sold out. The units are currently priced to sell, so securing a unit now will be a wise decision, if the project is one you’ve been eyeing.