The anticipation for the new GLS site in Ang Mo Kio has already attracted 15 bids setting it to be launched as a private residential development after eight years. The AMO Residence was expected this June and everyone is talking about how amazing that project will look with its price tag! Continue to read as we discuss the AMO Residence price and also its rentability.
The price of this 12679 sqm piece along Ang Mo Kio Ave 1 has been announced as $381 million or around $1,118 psf per plot ratio (psf ppr). United Venture Development bought AMO Residence which will operate under a 60:20:20 joint venture between UOL Group; Singapore LandGroup; and Kheng Leong.
What does AMO Residence have to offer?
The AMO Residence is a haven for those who love the outdoors. With views of lush greenery and beautiful flowers from your window, you can enjoy an open-air feeling while staying indoors! One thing that makes this place better? It’s close by to one epic hiking trail at MacRitchie and Peirce Reservoirs.
The wide variety of schools in this area makes it an excellent choice for families with school-going children. Local primary institutions like Ai Tong School and CHIJ St Nicholas Girls’ College are only 1 km away, while popular secondary schools such as Anderson Secondary Institute and Catholic High Institution can be found nearby too!
Mayflower MRT station is within walking distance. It’s situated along the Thomson-East Coast Line and will be mostly operational by 2025 just in time for this project’s TOP! With its opening, getting around Singapore has never been easier. You’ll only need to take 4 stops to Woodlands MRT Station and 8 stops to Orchard Road! Furthermore, the Cross-Island Line at Bright Hill Station is only a stop away. This means you’ll be able to get around Singapore much more conveniently than before! The Circle Line, North-South Line, and Downtown Line are only 3 stops, 4 stops, and 5 stops away respectively – making transportation easy!
The North-South Corridor will be a major thoroughfare for those living in this area. Starting from Woodlands and ending at CBD, there are plans for an expressway with dedicated bus routes as well cycling lanes which should make connectivity much easier than before! This project cuts through towns such as Yishun, Ang Mo Kio, Toa Payoh, etc.
What can we expect from AMO Residence?
With the floor plans yet to be released, it’s hard not to get excited about what these new units will look like. With so much land and an estimated number of stories that are sure to make them large enough for families! The facilities seem adequate too!
UOL’s latest additions to the Avenue South Residence and MeyerHouse are an indication of what they have in store for Ang Mo Kio. The more recent Clavon located at Clementi can be considered a self-contained community with tons to offer within its site. We’re sure Ang Mo Kio won’t be any different!
AMO Residence Price – What are we expecting in terms of launch prices?
The launch prices for AMO Residence are expected to be between $2,000 psf and $2,100 per square foot. This is based on its current land rate which stands at a reasonable price. By contrast, Lentor Central & Hills Road (parcel A) were sold for $1,204 psf ppr and $1,060 psf ppr respectively. These two sites are located close to Lentor MRT station, one stop away from Mayflower Station. Prices for AMO Residence should thus likely be relatively competitive with other listings in the area!
With the competition for land likely increasing, prices may go up. But three more GLS sites were recently released and they provide even better options if you’re willing to wait a little longer!
Let’s take a look at Jadescape at Bishan for a comparable D20 new launch project.
In 2018, the average price for a square foot was around $1,700 psf. However, this has changed drastically in just one year as we’re coming up with an estimate of around $1,850 psf which is slightly lower than AMO Residence. Jadescape also faces a landed housing enclave, has two MRT stations on different lines within walking distance of the property and an excellent hawker center nearby! But if you want to live close proximity to your kids’ schools then, AMO Residence would be best suited for you.
Let’s check out the table below to look at the average prices. :
|Tenure||Top||No. Of Units||Average Prices (PSF)|
|Bishan Park Condominium||99-Year||1994||320||$1,109|
|The Gardens at Bishan||99-Year||2004||756||$1,340|
|Adana @ Thomson||Freehold||2018||74||$1,845|
The properties listed above all fall under the $2,000 psf mark, even for the newer freehold Adana@Thomson. In general, newly launched condos are priced higher than older resale condos. The question is whether this price point can be justified given what you get for your money!
For those who are looking at this project as a rental opportunity, this is an ideal option for families who are looking to send their kids to nearby schools. The tranquil Ang Mo Kio neighborhood is not your typical ex-pat town, but it can be an option for professionals who work in this area or nearby nodes. They are such as Woodlands (15-min drive), Seletar Aerospace Park (13-min drive), Paya Lebar Quarter (19-min drive), and the future Punggol Digital District (18-min drive).
Based on recent rental contract transactions for condos nearby, here are some numbers you can take reference from. :
|Adana @ Thomson||2-Bedroom (500-600sqft)||$2,500|
|Thomson Grand||2-Bedroom (1,000-1,100sqft) |
|Bishan Park Condominium||3-Bedroom (1,300-1,400sqft)||$2,900-$3,300|
|The Gardens @ Bishan||2-Bedroom (800-900sqft)|
With this information in hand, we hope that you can start considering AMO Residence as a potential home for your family. AMO Residence price point and location make it an excellent place to settle down! We hope our article has helped you one way or the other. Continue reading our articles on our website for more information!