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.
Sim Lian Group Limited is an established property development and construction company with a portfolio of residential, commercial, industrial, retail mixed-use developments. The Singapore-listed Group has been creating homes for families in Singapore for over 35 years.
Project Name: Treasure Crest
Address: Anchorvale Crescent
Type: Executive Condominium
Site area: Approx. 187,831 sqft
Tenure: 99 years from 5 May 2015
Configuration: 504 units
84 3-bedroom units (958 sqft)
364 3-bedroom premium units (1,076 – 1,249 sqft)
56 4-bedroom units (1,345 sqft)
Maintenance fees: Approx. $288 – $336
504 normal lots
5 handicapped lots
Expected TOP: 2019
Expected legal completion: 2022
Treasure Crest is a 504-unit Executive Condominium (EC) at Anchorvale Crescent, a short distance away from Cheng Lim LRT. At time of writing (July 2016), only 3-bedroom units are still available.
For interested buyers, the show flat is on site. Construction has already started and the foundation seems to be done.
The project consists of eight 15-storey blocks and facilities are mostly in the middle of the two rows of blocks.
Facilities are as follows:
If you’re looking at getting a 3-bedroom unit, only stack 24 is internal-facing with a pool view. Stacks 17, 21, 28, 32 and 36 are all outward facing towards what is currently a heavy vehicle carpark, but is zoned for residential use in the future.
For 3-bedroom premium units, premium stacks would be 7, 9, 14, 23, 29 and 30, each offering residents a full pool view. Stacks 10 and 26 will have a partial pool view.
Lastly, for 4-bedroom units, stacks 8 and 25 are internal-facing with a full pool view. Stack 1 will have a partial pool view.
Showflat units are available for the 3-bedroom premium and 4-bedroom units. Photos in this review are from both units.
- porcelain and/or ceramic and/or homogeneous tiles with timber skirting for living, dining areas, and hallway to bedrooms
- teak parquet with timber skirting for bedrooms and study
- porcelain and/or ceramic and/or homogeneous tiles for bathrooms, wet and dry kitchen, yard, utility, store, water closet and balcony
- approved fire-rated veneer and/or laminate wrap timber swing door for main entrance
- veneer and/or laminate wrap timber sliding or swing door for bedrooms, study, store and bathrooms
- veneer and/or laminate wrap timber sliding or swing door with glass in fill panel for dining to kitchen and dry kitchen to wet kitchen
- powder-coated aluminium framed sliding or swing door with clear, tinted and/or frosted glass for living to balcony, bedroom to balcony, dining to balcony and study to balcony
- powder coated aluminium framed sliding or swing or folding door with or without glass infill panel for kitchen to yard and wet kitchen to yard
- PVC and/or aluminium bi-fold door and/or slide and swing door for water closet and utility
- glass shower compartment complete with shower mixer and shower set, wash basin and tap with cabinet below, pedestal water closer, mirror and paper holder for all bathrooms
- hand-held shower set, pedestal water closet, wash basin and basin tap and paper holder for water closet
- built-in wardrobes in laminated finish for all bedrooms
- wall-mounted air-con for living, dining areas, study and all bedrooms
Cabinets with solid surface countertops and a steel sink come with the kitchen. Appliances provided include a built-in oven and a gas cooker hob and hood from Bosch. If need be, two people can move around in the kitchen at any one time, in all the unit types.
The kitchen leads to the yard area, with the utility space and water closet on the right.
The dining area is right in front of the kitchen, to the right of the entrance.
From the entrance, the living space is straight ahead and stretches out to the balcony.
The balcony is pretty wide and covers one of the common bedrooms.
The common bedrooms can generally accommodate a queen bed.
Going with a single bed however, frees up more space.
The common bathroom comes with a wet and dry area as per normal. Fittings are from Hansgrohe.
The master bedroom is quite spacious and can probably accommodate a king-sized bed.
The master bathroom is similar to the common one, except maybe a bit wider.
The 4-bedroom unit comes with a wet and dry kitchen.
The dry kitchen is fully functional with a sink and electric hob.
Two people can move around simultaneously in the wet kitchen and as with the 3-bedroom unit, it leads to the yard area with the utility and water closet.
The living area here is much larger and similarly extends to the balcony.
The balcony area is ideal as additional seating area when guests are over or even as a relaxation corner in the evenings.
The common bedrooms can each accommodate a queen bed.
Alternatively, you can convert one of the common bedrooms into kids’ room. Or even into a lounge or entertainment room of sorts.
The wet area in the common bathroom is smaller than usual with the 4-bedroom unit.
The master bedroom is almost the same as the one in the 3-bedroom unit.
And lastly, the master bathroom.
There has been strong demand for units at Treasure Crest since its launch in mid-July. 362 of the 504 units were sold within the first two days of booking. Approximately 62% were booked by first-timers, including those who made the purchase under the Fiancé/Fiancée scheme with the rest purchased by HDB upgraders. First to be snapped up, were the 56 4-bedroom units.
Sengkang is an urban planning area and satellite residential town situated in Northeast Singapore. Anchorvale is one of the four neighbourhoods (Rivervale, Compassvale, Anchorvale and Fernvale – with the town centre being in Compassvale) that make up Sengkang. It is located between Sungei Punggol and Compassvale, with the west loop of the LRT serving the areas.
Getting there: Treasure Crest is a 1-minute drive away from the Tampines Expressway (TPE). If you’re travelling by train in the mornings, Raffles Place MRT is a 27-minute ride from Cheng Lim LRT. By car, it is an 18-minute drive to town via the Kallang-Paya Lebar Expressway (KPE), assuming optimal traffic conditions.
Cheng Lim LRT is a 5-minute walk away from Treasure Crest. It is the first stop on the west loop of the Sengkang LRT route. Now, you have to be careful with the LRT, especially if it’s your first time taking it from Sengkang station.
There are the east and west loops and they run concurrently. On top of that, each LRT runs in a particular direction. So, you have to check the screen carefully before you board, or you may end up taking the wrong one like I did, and end up at a completely different part of Sengkang.
Sengkang MRT is a 10-minute walk away. From there, it is roughly a 20-minute ride to Dhoby Ghaut MRT, where you have Plaza Singapura and the entire Orchard Shopping Belt a short distance away.
Serangoon MRT which is connected to NEX Mall, is four stops down. It is also where commuters can switch to the Circle Line.
The estate: The area surrounding Treasure Crest is mostly residential. The upcoming Sengkang Hospital however, is going to be pretty nearby.
The project is a short drive away from malls like the upcoming Compass One and Seletar Mall. Waterway Point at Punggol is also a short distance away.
As for school options, there are a selection of primary and secondary schools nearby.
Nan Chiau Primary School and Springdale Primary School are nearest to Treasure Crest.
- Chatsworth Kindergarten
The upcoming Compass One is about 500m away. The mall is currently closed for renovation. However, by the time the project attains its TOP, it should have reopened, with a more varied tenant mix.
The mall is also connected to Sengkang Bus Interchange in addition to Sengkang MRT.
Seletar Mall, the first mall in Northeast Singapore to have a cinema, is a 4-minute drive away. The 6-storey mall boasts 132 stores and services.
Waterway Point next to Punggol MRT is a 3-minute drive away. Anchor tenants include Shaw Theatres & IMAX, Uniqlo and NTUC Fairprice Finest. Rivervale Mall is a 2-minute drive away and Punggol Plaza, a 3-minute drive.
Jalan Kayu and its laidback charm is a 4-minute drive away via the TPE. Most famous for its crispy roti prata, residents can head over for a relaxed evening at one of the eateries, or during the weekends.
For some calm and greenery, you could head over to Sengkang Riverside Park, a 2-minute drive away. The park features a constructed wetland and rich biodiversity, making it a hit with nature lovers.
For golfers, there is a golf driving range (PAR Golf Range @ Punggol East) a short distance away from Punggol Plaza.
Sengkang Sports and Recreation Centre is just opposite the park. Kids are bound to love this place and it makes for a nice treat during the weekends.
The recently opened Coney Island is a 4-minute drive away. Activities there include hiking, cycling, bird watching, and visiting the different beach pockets. The whole family could go down for a fun weekend adventure.
As for healthcare needs, Sengkang General and Community Hospital will be directly next to Cheng Lim LRT. It is slated to be completed in 2018.
Units at Treasure Crest are priced very competitively against other projects in the area, at an average of $742 psf. Prices start from $677K ($707 psf) for a 3-bedroom unit and $735K ($683 psf) for a 3-bedroom premium unit.
Treasure Crest’s closest competitor would be The Vales, another EC located just next to it. Launched in July 2015, its current median price is $788 psf to Treasure Crest’s average of $742 psf.
Occupants of The Vales are going to be home buyers as well, with it being an EC. With the upcoming Sengkang Hospital directly opposite both projects, property prices in the area are bound to see a rise. So, there could be investment potential, if buyers are willing to wait out the Minimum Occupation Period (MOP).
Units at The Vales range from 2-5 bedroom units, maisonette units and penthouse units while Treasure Crest consists of 3- and 4-bedroom units.
To understand pricing better, we will be looking at 3-bedroom units in particular, across both developments. Treasure Crest’s 3-bedroom units have an indicative price of $707 psf while The Vales’ have a median price of $844 psf. Transactions for the units at Treasure Crest start at $677K, and range from $745K to $790K at The Vales.
Before deciding based on these numbers alone, we should look at unit sizing as well. By comparison, 3-bedroom units at Treasure Crest have larger proportions and are 958 sqft. At The Vales, they range from 905 sqft to 915 sqft.
Treasure Crest is clearly easier on the wallet, and this is also reflected in how fast units are moving.
Future Rental Potential
Treasure Crest is an EC, which means that buyers can only expect any form of yield after the Minimum Occupation Period (MOP) of five years.
To have a general idea of what rental prices will be like for Treasure Crest, we need to look at rental prices for projects in the vicinity. The current median rental price for District 19 (Serangoon Garden / Sengkang / Hougang / Punggol) is around $3.07 psf per month at time of writing, based on rental transactions for the past 4 quarters.
At these rates, a 3-bedroom unit around 958 sqft at Treasure Crest would go for around $2,800 to $3,000 a month. With the starting price for the unit being $677K, the annual gross rental yield at the current rate would be an estimated 5.1%. Assuming that rental prices increase in future with the revamp of the Punggol district, the same 3-bedroom unit could possibly fetch up to $3,200. Gross rental yield then moves up to 5.7%.
The median unit size of a 3-bedroom at The Vales, would probably fetch around $2,800 a month at today’s rental rates. This translates to around 4.5% in annual gross rental yield. Rental could go up to $3,000 a month with future developments in the surrounding areas. Annual gross rental yield would then be around 4.8%.
The projects are next to each other, so the choice of nearby amenities is pretty much the same. Unit sizing differs slightly with Treasure Crest having more generous proportions. Overall, rental yields for both developments seem to be in the safe zone.
Treasure Crest offers residents good location in terms of easy access to major expressways. The project is also walking distance away from Sengkang MRT and right next to Cheng Lim LRT. Residents will have the upcoming Compass One and Seletar Mall as nearby mall options for daily needs and occasional entertainment.
The upcoming Seletar Regional Centre and Seletar Aerospace Flyover are within a 10-minute drive and this will have an effect on residential prices in the future. In addition to these, Sengkang Hospital should be fully operational by 2020, which means an overall potential increase in job opportunities in the area.
A potential drawback is the lack of a range of educational institutions within short distance. Primary and secondary schools are plenty, which fits Sengkang’s profile as a young estate, but there is a lack of tertiary institutes nearby.
Overall, units at Treasure Crest are decent-sized and the price tags are pretty affordable. With the coming developments in the vicinity, securing a unit may prove to be worthwhile in the long run.