Canninghill Piers

After a long awaiting, the new Integrated Development Canninghill Piers in Clarke Quay (District 6) is finally here! This will be a 99 Years leasehold property commencing from 3 Sep 2021. You may note that this is not another normal residential condo with mixed 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.

Canninghill Piers neighbourhood properties

Above some of the private residential properties near the soon to be launched 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 as a gauge. Base on URA transaction records, the average price transacted is between $2589 to $3086 psf. Thus we are expecting the Canninghill Piers to be launched above $2589 psf on average and may sell up to $3000 psf.

Price Comparison of Recent Private Property Transactions in Central Singapore

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 30 Oct 2021 with launch on 13 Nov 2021.

The estimated launching price for a gauge will likely start from the following base on the current market prices:

Expected Starting Price of various Units in Canninghill Piers
Canninghill Piers units (subject to change and confirmation)
Entry Price comparison of Private Condo Sold around CanningHill Piers for 3 Bedrooms

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). You may like to read on to have more Insight of Canninghill Piers base on the Developer video link: https://youtu.be/5RLkc5f4D9k

Tower view of Canninghilll Piers and Surrounding Development:-

Is Canninghill Piers a Good Buy?

Although 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 shown below.

In addition to the above 9 unique selling points, Canninghill Piers will also be served by another Clarke Quay MRT station (North East Line) just beside Clarke Quay Central via a 6-7 mins walk. 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.

Canninghill Piers all round views

Price comparison with near-by Integrated Development

Let’s compare the property price with their nearby mixed Development Midtown Modern and One Bernam that were launched this year. If we feel Canninghill Piers is at least better than One Bernam (not Integrated development) or Midtown Modern, then we will expect the launched price to be at least $2512- $2700 range.

Taking the resale price of Duo Residences and Wallich Residences this year 2021 between $2,117 to $3,511, so the launch price of Canninghill Piers in excess of $2700 is highly possible.

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 maintain or exceed the average sale price of $2766 like the Midtown Modern in the coming launch.

General Price Trending for districts 6 and 7 for 99 years old condominium property

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.

Property around Singpaore River and available units

So 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. 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 in Singapore below. $5.36 psf per month shown is just average rental in District 6 and if you consider Canninghill Piers as a special integrated development, the rental yield will surely be much higher. You can refer to my another article Here on rental.

The 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 will made 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.

Connect with me!

If you need more info of Canninghill Piers or how your budget and need can fit into Canninghill Piers, do Connect with me today on the coming launch soon. 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. 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.

Do note that due to the pandemics recently, the show room for customer preview on 30 October 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.

Leave a Reply

%d bloggers like this: