Chuan Park Condo Review: Best-selling condo launch of 2024

Chuan Park Condo is a new 99-year leasehold luxury condo development located on Lorong Chuan in District 19, in the heart of the Serangoon area. It occupies the site of an older condo, also named Chuan Park, which was acquired in an $890 million en bloc sale in 2023.

The brand new Chuan Park will be a 916-unit luxury condo development by developer Kingsford Group, replacing the previous 446-unit condo. It will consist of two 19-storey blocks and three 22-storey blocks, and is expected to receive its Temporary Occupation Permit (TOP) at the end of 2028.

Launched on 10 November 2024, Chuan Park is the first condo launch in the area in 14 years. So, unsurprisingly, there has been a lot of hype amongst those interested in buying property in the Lorong Chuan area.

The Chuan Park Condo Review (Summary Table)

*Information from 99.co, PropertyGuru, and other property listing websites is accurate as of time of writing.

Chuan Park Condo Price

At its launch on 10 November 2024, 696 out of 916, or 76% of units were sold at Chuan Park Condo, making it the top-selling launch of 2024 so far based on the number of units sold. The average psf price of units sold at the launch was $2,579 psf.

Launch prices started from $1.5 million for two-bedroom units, $2.1 million for 3-bedroom units measuring 915 sqft, $3.1 million for 4-bedroom units measuring 1,335 sqft and $3.7 million for 5-bedroom units measuring 1,550 sqft.

Currently, Chuan Park units are being listed on PropertyGuru for $999,999 to $4,417,000 (1,366.12 psf to $3,114,76 psf).

There are no recently built condos in the area, but let’s have look at an older property nearby to see how the prices stack up.

At Chiltern Park, a 99-year leasehold condo that received its TOP in 1995, units are being put up for sale on PropertyGuru for $1,450,000 to $2,450,000 ($1,390.10 psf to $1,857.97 psf). 3-bedroom condo units measuring 1,245 to 1,302 sqft are being sold for $1,980,000 to $2,450,000. The condo is located on Serangoon Avenue 3, a two-minute walk from Lorong Chuan MRT station.

We can see that Chuan Park units are priced at a premium. But if Chiltern Park’s prices over the years are anything to go by, property values in the area have risen quite steadily over the past five years, so Chuan Park could still prove to be a good investment.

Chuan Park Condo Site Plan

You can find the Chuan Park Condo site plan here.

The site plan enables you to see the layout of residential blocks and the shared facilities within the development.

Chuan Park has a good range of basic condo amenities, including swimming pools, a gym and tennis courts.

Chuan Park Condo Location

Chuan Park Condo is located just across the road from Chuan Park MRT station on the Circle Line—a mere one-minute walk away.

The Chuan Park residential estate is a quiet one suited to those looking for a peaceful place to live. It nonetheless enjoys a good selection of amenities thanks to major mall Nex, located an 18-minute walk away. It is also reasonably near the popular Serangoon Gardens area, home to famous hawker centre Chomp Chomp.

There is also a good selection of schools within easy walking distance, including St Gabriel’s Primary School, CHIJ Our Lady of Good Counsel, Yangzheng Elementary School, Zhonghua Secondary School and Nanyang Junior College.

Due to the tranquil character of the area and the availability of sought-after schools, Chuan Park is ideal for families with children or young professionals looking for an attractive neighbourhood.

Chuan Park Condo Floor Plan

You can see Chuan Park Condo floor plans here.

Chuan Park consists of 2-bedroom, 3-bedroom, 4-bedroom and 5-bedroom units.

The 2-bedroom units measure 65 to 82 sqm, with the biggest units being equipped with a study. In all the 2-bedroom layouts, the entrance opens into the kitchen, with the living and dining area further down. I don’t think everybody likes entrances that open up into the kitchen as it does stop you from setting up a welcoming entryway with shoe racks.

The 3-bedroom units measure 85 to 140 sqm, and all have layouts lining the three bedrooms up side by side. One interesting feature is that all the layouts have a main door opening into an entryway, connecting to the entrance of the kitchen. The presence of the entryway is ideal if you want to keep your shoe rack indoors or place furniture items such as a console table.

The 4-bedroom units measure 124 to 156 sqm. Each unit has a balcony. In addition to the master bedroom, the junior master room also has an en suite bathroom. There is also a store room in each unit that I personally find useful, as it saves you from having to install storage solutions like cabinets.

The 5-bedroom units measure 144 to 171 sqm. All the bedrooms are clustered on one end of the unit, except for the junior master bedroom, which is separated from the other bedrooms by the living room, offering greater privacy.

Chuan Park Condo Rent Price

Chuan Park is still under construction, so none of the units are being rented out yet.

But let’s have a look at nearby rent prices as a gauge. At Chiltern Park, the going price for 2-bedroom units measuring 915 sqft is $4,000 to $4,300 a month, while that for 3-bedroom units measuring 1,300 sqft is currently $4,500 per month.

If Chuan Park were earning these rents, that would translate to a lacklustre rental yield, indicating that this might not be the ideal rental property.

Chuan Park Condo Review

Chuan Park has generated lots of buzz as 2024’s top-selling new condo launch, probably due to the attractiveness of the neighbourhood and the lack of other launches in the area.

I personally feel this condo is a bit overpriced, and unless you have a particular attachment to the area, you might be able to get better value for money elsewhere.

That said, the Lorong Chuan area remains sought-after due to its upscale, low-density character, which could keep property prices in the area buoyant—good news for Chuan Park investors hoping to enjoy good capital gains.