Please note that the following CanningHill Piers units are now available at below price on 13 Jan 2020: –
New List Price: $1,833,250 New List Price: $1,687,500
New Net Price: $1,466,600 New Net Price: $1,350,000
New List Price: $2,000,000 New List Price: $2,187,500
New Net Price: $1,600,000 New Net Price: $1,750,000
New List Price: $2,877,500 New List Price: $3,031,250
New Net Price: $2,302,000 New Net Price: $2,425,000
New List Price: $7,026,250 New List Price: $7,086,250
New Net Price: $5,621,000 New Net Price: $5,669,000
New List Price: $6,741,250 New List Price: $2,997,500
New Net Price: $5,393,000 New Net Price: $2,398,000
Finally, the new Integrated Development Canninghill Piers in Clarke Quay (District 6) has started launching in November 2021! Have a look on the likely panorama view (move your cursor on the site) taken at approximately Level 24 of CanningHill Piers Sky Bridge when it is ready.
This will be a 99 Years leasehold property commencing from 17 Sep 2021. You may note that this is not another normal residential condo with integrated development. It come with many values that is associated with District 6, sit at the central of Clarke Quay and bounded by river, hill and city center.
Above chart are some of the private residential properties near the launching Canninghill Piers. Those shaded in blue are the integrated development: Duo Residences (Beach Road), Marina One Residences (Marina Bay Financial Centre), Wallich Residence (Tanjong Pagar) and South Beach Residences (Beach Road). Looking at their recent years transacted prices, all have risen since launch date. The same will happen for the recent launches of the 558-unit Midtown Modern in March 2021 at Beach Road.
What is the likely Launch Price?
As we know, Canninghill Piers is not bought from Government Land Sale but a joint venture between CDL and Capitalland on redevelopment of Liang Court and Novotel Singapore Clarke Quay. As such we could take the average price of most recent transactions of Riviere, The Aveneir, Martin Modern and Irwell Hill Residences properties etc as a gauge. You may refer to the Canninghill Piers and other luxury projects entry price for comparison.
You can check out the Developer factsheet HERE (with 1-5 bedrooms floor plan and size). Please note that Developer is scheduling the consumer preview date on 5 -16 November with launch on 20 Nov 2021.
You can refer to the unit mix of Canninghill Piers condo below to seek out a property that fit into your budget and interest.
The 696 units of Canninghill Piers has a reasonable livable space for the 1 to 2 bedroom units (75% of total units). This is followed by the largest 3-5 bedroom premium, Sky Suites and Super Penthhouse which will have a private lift like most exclusive high end condo. Not surprise as the developer behind is CDL-CapitalLand, the same developer for CapitaSpring (Market Street) and Sengkang Grand (in progress). Do read on to have more Insight of Canninghill Piers base on the Developer video link
Tower view of Canninghilll Piers and Surrounding Development:-
Is Canninghill Piers a Good Buy?
Clarke Quay is deemed to be in RCR (Rest of Central Region) District 6, its uniqueness and location in the proximity to city enable Canninghill Piers to command a comparable price with other CCR (Core Central Region) properties. There are many intangible values owning a unit in Canninghill Piers as highlighted below.
In addition to the above 9 unique selling points, Canninghill Piers will be served by another Clarke Quay MRT station (North East Line) just beside Clarke Quay Central 7 mins walk away. Just look at the surrounding views of Canninghill Piers as shown below and you will agreed the fantastic multi-views of Hill, River and City Skyline is just amazing.
Below show the price growth of private condominium in District 6 exceeded over 200% in the last 15 years from Year 2006. Generally the price stabilised in Year 2018-20 but has started edging up in year 2021 to above $2600 on average. Canninghill Piers is an integrated development and the price is expected to exceed the average sale price of Midtown Modern in the coming launch.
So is buying a new Integrated Development Canninghill Piers in Clarke Quay a good choice?
If you look around the possible private property along Singapore River (Roberson Quay, Clarke Quay and Boat Quay), there is likely none in the near future with an integrated development. The previous condo launch in Year 2019 was Riviere (TOP in Year 2023) with other available condos as shown below.
The total current available home units along Singapore River excluding Canninghill Piers is only 2159. However purchasing Canninghill Piers boils down to what you want and your finance ability & affordability too. A newer condo (less than 5 to 6 years old from TOP) definitely provide better capital appreciation and fetch higher rental yield. A recent rental transaction on Martin Modern 2 bedrooms and study 883 sqft was closed at $6200. This is confirmed by the 2021 YTD report that District 6 has the higher rental yield by $psf of average $5.36 psf (combination of all development sales) per month shown.
If you consider 99 year leasehold Orchard Residences (Integrated Development) that was TOP in Year 2010, the rental yield is already average at $6.28 this year. It is around 50% higher than Paterson Residences which is not an integrated development. You can refer to my article Here on rental.
There is an increase of land price bided (refer to the Lentor Central and Ang Mo Kio Ave 1 sites below) and Pasir Ris 8 launched price of up to $2000 psf recently. This will surely drive new private property more expensive coming Year 2022.
Lastly at this period of ultra low interest rate currently, it is a great time to place your hard-earned money in safe growing asset to beat the inflation and low return with the bank. In summary, if you have a need to purchase a new property in central singapore (asset progression through investment or own stay), it is a good time now to act now. It is difficult to time any possible minor dip (further cooling measures or economic slower growth) in property market as current statistics suggest that it will still rise over the short to mid term.
If you need more info of Canninghill Piers or how your budget and need can fit into Canninghill Piers, do Connect with me today. I will share what are the good selected unit (orientation, size, layout and price etc) on the coming launch. Looking at the launch price of Integrated Development condo in recent years, those cheaper launch price $PSF and price quantum units are usually sold off immediately during the launch.
Below are some of the Integrated developments (Highlighted in red are those in city central) with average $psf broken down per room basis. If we include other factors like increase in construction cost, expecting Canninghill Piers unit to be priced above $2836 psf is quite expected. I will be glad to share with you further strategy and issue related to finance/affordability in selecting a unit and size that meet your need.
Due to the pandemics recently, the show room for customer preview from 5 to 16 November 2021 can only accept limited appointments a day. Alternatively if you have any other need of private property in other part of Singapore region, you can drop me your request too.