Ki Residences is located in District 21 along Brookvale Drive. It is situated in a private enclave at the Clementi / Upper Bukit Timah area. As such, Ki Residences offer peace and tranquillity, though the trade-off will be the distance to the MRT stations. Clementi and King Albert Park MRT stations are 2.2km and 3.9km away from Ki Residences, respectively. As such, staying in a secluded area may require private transportation.
Image from Google Maps
With a 999-year lease tenure, Ki Residences is almost equivalent to a freehold project. However, do note that the lease tenure started in 1885. The 660-unit project will achieve its TOP status in 2024, which is not too far from now.
| Unit Type | Unit Size(sqft) | Available | Avail/Total |
|---|---|---|---|
| 2BR Compact | 700 | ~ 95% | 19/20 |
| 2BR + Study | 743-883 | ~ 60% | 96/160 |
| 3BR Compact | 861 - 1033 | ~ 49% | ~ 47/96% |
| 3BR | 936 = 1410 | ~ 76% | 246/322 |
| 4BR | 1249 - 1711 | ~ 14% | 8/58 |
| 5BR | 1819 - 2239 | ~ 100 % | 4/4 |
Breakdown of units Ki Residences
Launched in December 2020, there are still plenty of 2-Bedroom and 3-Bedroom units left in Ki Residences. However, when looking at the 4-Bedroom units, there are only 8 units out of the 58 units left. This means that the 4-Bedroom has been very well received, translating to strong demand for bigger unit types. It is also interesting to note that Ki Residences does not offer 1-Bedroom units. Hence, by design, this project is likely to cater more towards homeowners than investors.
Criteria 1: Growth Area
Towards the East of Ki Residences, there are several plots of vacant land parcels that are subject to detailed planning. Although these plots of land are zoned for residential use, one of them is actually Clementi Forest. It has also been stated by National Development Minister Desmond Lee that there will be “no immediate need” to develop these plots of residential land. Hence, it is unlikely to see new developments beside Ki Residences in the near future.
Source: URA Master Plan
Towards the West of Midwood lies Tengah, Singapore’s future new town. Tengah is set to be developed as Singapore’s first smart and sustainable town, connecting to the Jurong Regional Line from 2026 onwards.
Source: Development of Cross Island Line intersecting Downtown Line, Sgtrains.com
On a speculative note, there potentially might be a new MRT station located near Ki Residences. Following the Cross Island Line (CRL) which is expected to complete in 2030, it may intersect with the Downtown Line at Beauty World MRT station. However, do note that this is purely speculative and even if the new MRT is constructed, it may only happen from 2040 onwards.
Next, let’s look at whether there is growth potential for Ki Residences. Towards the West of Ki Residences, there is the high profile Jurong Lake District development. It has been made known that the Jurong Lake District is set to become the second CBD of Singapore meaning that there will be plenty of jobs being created in the area, which will in turn increase the demand for housing.
Image from Google Maps
Towards the South-East of Ki Residences, there is One-North’s technology business park. The One-North cluster is home to many well-known companies such as Grab, Shopee and Razer.
Although these two growth areas are up and coming, Ki Residences is located quite a bit of distance away at approximately 5km. Thus, the spillover effect will be minimal as there are many housing options that are nearer to these growth nodes compared to Ki Residences.
Criteria 2: Unique Selling Point
Ki Residences is one of the rare few “freehold” projects available in this area. In addition, Ki Residences comprises 660 units, which is substantial. It may be easy to find a freehold project but it is definitely not easy to find a freehold project of this scale. This means that homeowners at Ki Residences can enjoy ample facilities at lower maintenance costs due to its size.
An interesting observation for Midwood is its rectangular plot of land. When looking at its site plan, the two blocks are positioned 120m apart at the end of each side. A plus point for this layout is that it provides more privacy to residents, as neighbours will not be able to look into one another’s windows. Hence, Midwood may appeal to people who value privacy.
Ki Residences is situated on a unique piece of long and narrow land. This allows the project to orientate in such a way that every block enjoys an unblocked view. The south-facing blocks will enjoy the landed view while those facing the North will be greeted by greenery. As Maju Camp is located right in front of the project, the area is unlikely to be rezoned to accommodate new developments. This makes Ki Residences an ideal place for people who appreciate quietude to call home.
Facing
Source: Land parcel where Ki Residences will be located, Official E-brochure
Primary School
Source:Bukit Timah Primary School within 1km radius of Ki Residences, Onemap; Primary school popularity ranking, Salary.sg
The only primary school within 1km of Ki Residences is Bukit Timah Primary School, where parents can send their children for their primary school education. Although the school may not be very popular, Bukit Timah Primary School is still easily accessible from Ki Residences.
Developer
Ki Residences is developed by Hoi Hup Realty, which is an experienced developer. Hoi Hup Realty has developed several projects in recent years, suggesting that they are up to date with the market conditions. The projects developed by Hoi Hup Realty are also of a decent scale.
| Projects | Location | Tenure | TOP | Total Units |
|---|---|---|---|---|
| Rivercove Residences | Anchorvale Lane | LH | 2020 | 628 |
| Sophia Hills | Mount Sophia | LH | 2018 | 493 |
| Hundred Palms Residences | Yio Chu Kang Road | LH | 2019 | 531 |
| The Whitley Residences | Whitley Road | FH | 2013 | 61 |
| Kovan Regency | Kovan Rise | LH | 2013 | 378 |
List of projects by Hoi Hup Realty
Criteria 3: New Launch Comparison
It is important to compare the surrounding projects when doing an analysis to find out if the project is worth buying into. This is because when you sell your property in the future, the next buyer will also do a similar comparison with the nearby projects so one should only buy into a project that is of value.
Image from Google Maps
Image from Google Maps
The North of Ki Residences has several new launches, such as Verdale, Daintree Residence, Mayfair Collection and View At Kismis. Towards the South of Ki Residences, there is Whistler Grand, Twin View and Parc Clematis. All of these projects are leasehold, which sets Ki Residences apart with its 999-year tenure.
2-Bedroom
The 2-Bedroom units at Ki Residences start from S$1.27 mil for a 743 sq ft size unit. This amounts to S$1,719 psf, which is similar to View At Kismis that is asking at S$1,774 psf or S$1.24 mil. However, the winning factor for View At Kismis is that the 2-Bedroom units come with a guest room, which can accommodate a helper or guests.
Image from Google Maps
Looking at Whistler Grand and Parc Clematis, the 2-Bedroom units only come with 1 Bath. This may not be suitable for small families as the audience profile in this area is most likely parents looking to send their child(ren) to Nan Hua Primary School. It may not be very convenient for families of 3 to 4 to share 1 Bathroom. Ki Residences might be a better option as it offers 2 Bathrooms.
3-Bedroom
Image from Google Maps
3-Bedroom units are very popular in this area, as seen from View At Kismis and Whistler Grand, which sold all their units. Daintree Residence has 10 units left, starting from S$1.82 mil or S$1,516 psf. In terms of psf, Daintree Residence is lower than Parc Clematis which is asking from S$1,667 psf.
Ki Residences is also priced competitively at S$1.48 mil, which is within an affordable range. However, Parc Clematis is a strong contender as it is priced slightly cheaper at S$1.43 mil. Families looking to stay in the Clementi area will consider between Ki Residences and Parc Clematis. The defining factor will be the distance to Nan Hua Primary School, MRT station and tenure.
4-Bedroom
Ki Residences has priced their 4-Bedroom units from S$2.35 mil at S$1,881 psf, which has been well received so far. This means that there is a healthy demand for bigger homes in private enclaves. As such, we can see that distance to MRT is not a determining factor for homeowners looking at the 3 or 4-Bedroom units.
Image from Google Maps
The 4-Bedroom units at Parc Clematis are starting from S$2.06 mil or S$1,664 psf, which is lower than Ki Residences. Whistler Grand is priced even more competitively at S$1.88 mil or S$1,417 psf.
Criteria 4: Releas Project Comparison
Image from Google Maps
(Note: The asking prices are marked down by 5%, as one should always aim to buy below market value in the resale market.)
In the resale market, there are three projects North of Ki Residences which are all freehold projects, namely The Beverly, The Creek @ Bukit and KAP Residences. Towards the South of Ki Residences, there are only two leasehold projects, Faber Heights Park and The Trilinq.
2-Bedroom
The 2-Bedroom units at Ki Residences are asking from S$1.27 mil or S$1,719 psf. KAP Residences is also similar in terms of quantum and psf, at $1.23 mil or S$1,792 psf. However, the age of the buildings are 8 years apart. As newer properties are usually priced higher in terms of psf, the gap is almost non-existent in this case. Hence, Ki Residences might be underpriced. However, we need to take into consideration that KAP Residences is nearer to the MRT station and has a mall right below it. Do take note that KAP mall is not a premium mall and for those considering KAP Residences, we highly recommend walking the ground to experience the neighbourhood.
Image from Google Map
The 2-Bedroom units at The Creek @ Bukit are asking from S$1.25 mil but have a very high psf of S$1,903 due to the nature of loft units, which generally command a higher psf. The Trilinq offers the lowest quantum and psf at S$1.12 mil or S$1,601 psf.
3-Bedroom
Image from Google Maps
KAP Residences have its 3-Bedroom units asking from S$1.90 mil or S$1,483 psf, while The Creek @ Bukit has an asking from S$1.65 mil or S$1,651 psf. Once again, the higher psf is attributed to the loft design.
The 3-Bedroom units at Ki Residences are priced competitively from S$1.48 mil or S$1,727 psf. However, Trilinq is only asking from S$1.36 mil or $1,483 psf, which has one of the lowest psf. Although Trilinq will be 7 years older (by the time Ki Residence is completed), it is located much closer to Clementi MRT station and also Nan Hua Primary School.
4-Bedroom
Image from Google Maps
Criteria 5: Exit Strategy
As a home buyer, one’s motivations are often on a spectrum between happiness and returns on investment. Homeowners are more likely to look for properties they like and are happy with, while Investors look for the best bang for their buck by prioritising cash flow and capital appreciation. Ideally, Homeowners should strive to become Homevestors who buy properties with potential capital gains.
Conclusion
As Ki Residences is located quite a distance from MRT stations in the area, it may be more suitable for Homeowners who are looking for a brand new property with freehold status. Homeowners who prefer a peaceful environment to live in may appreciate the beauty of Ki Residences. However, homevestors and Investors may wish to explore other opportunities as Ki Residences is not the nearest project to growth nodes such as Jurong Lake District and One-North. It may take a longer time for the growth impact and location to MRT to be a factor in drawing in a larger pool of tenants.
