JADESCAPE REVIEW
Jadescape, is the new condo that took over the site of former Shunfu Ville HUDC estate, and was launched at end September 2018. And out of 480 units that were launched, 300 units were sold at an average transacted price of $1,700 per sq ft.
The prices at Jadescape has not risen much, the latest price for the balance units are as follows :
- 1 Bedroom 527 sf unit is $920,816 or $1447psf
- 1 Bedroom + Study 527 sf, is $986,922 or 1873psf,
- 2 Bedroom Deluxe, 764sf, is $1,275,408 or $1669 psf,
- 3 Bedroom Premium, 1152sf, is $1,875,000 or $1628psf,
- 4 Bedroom, 1259sf, is $2,156,428 or $1661psf,
- 4 Bedroom Deluxe, 1421sf, is $2,450,000 or $1724psf
- 4 Bedroom Suite, 1647sf, is $2,855,502 or $1734psf
- 5 Bedroom Suite, 2099sf, is $3,460,825 or $1649psf
Since the start of circuit breaker on 7 Apr , sales at Jadescape has been quite impressive. From April to June, a total of 95 units were sold during this COVID-19 period.
It shows that buyers are still ready to buy Jadescape, as the price is right after the discounts.
Jadescape is among the top 8 projects with high sales, the other projects are Parc Esta, Marina One, Treasure at Tampines, Florence Residence, Tapestry, Parc Clematis, Affinity, mostly mass market condominiums.
Jadescape is built on the enbloc site of Shunfu Ville. A big development with up to 400,000 sqft of space. It is a luxurious condominium located in the RCR area of Thomson/Bishan. It is within walking distance of 250 metres or 3min walk to Marymount MRT.
It is also near the upcoming Upper Thomson MRT Station. By 2030, residents can enjoy the accessibility of 4 MRT lines, namely, North South Line, Circle Line, Thomson East Coast Line and the Cross Island Line.
Jadescape residents can also enjoy breathtaking panoramic views of the MacRitchie Reservoir, as well as the unblock views over the surrounding landed enclave.
Besides the proximity to nature, residents can enjoy the inhouse facilities, there are more than 95 facilities which include 2 Tennis Courts, 2 x 50m swimming pools, 2 club houses, gyms, and numerous pavilions. Qingjian has tried to put in as many facilities into this 400,000 sqft area, and there are many water features and trees everywhere.
Jadescape offers a total of 1,206 Residential Units & 6 Shops, in 7 tower blocks, and there are choices from 1 Bedroom to 5 bedroom.
Jadescape is well located and connected to many places.
From Jadescape’s Marymount station to Dhoby Ghaut (Orchard), its only 6 stations away or about 14 mins.
From Marymount to Jurong East, it is only 8 stations away or 22 mins
From Marymount to Raffles Place, it is also 8 stations away or 18 mins
The Circle line makes it quick to connect to other lines as there are many interchanges along Circle Line.
If you are driving, you can enter major expressway PIE via Lornie Highway and CTE via Braddell Road.
KEY SELLING POINTS OF JADESCAPE
One of the key selling point to stay in Jadescape is the Location. It is very near to mature estates like Bishan and Ang Mo Kio and Toa Payoh.
Jadescape is located within close proximity to the serene MacRitchie Reservoir nature park as well as beside a landed private enclave.
There are many amenities surrounding Jadescape, with Shunfu wet market & hawker centre opposite at Blk 320. There is a Sheng Siong supermarket nearby along Thomson Road.
The only setback is that there is no big shopping mall nearby, the nearest is either Thomson Plaza or Bishan Junction 8.
Location 4/5
The location of Jadescape helps in the rentability of the condo, and it improves the rental yield.
Rental competition in this area are only from Boonview, Tresalveo, Seasons View and Marymount View, mostly quite old properties.
Even at $2500 rental, you would get a gross rental yield of 3% for a 1Bedroom unit costing $916,633.
Also, with the construction of the NSC, North South Corridor, it will add more benefit to residents of Jadescape as it allows a smoother and faster drive to town, and smoother traffic along Marymount Road.
In terms of quality, I would say it is good, especially with the developer making it Singapore’s first fully smart home concept.
Not only it has facial recognition at lift lobbies, QR code access for guests, it also offer a private condo maintenance app, called HiLIFE, which enable residents to unlock their doors, book classes, pay maintenance fees, as well as check for car washing bays.
Jadescape is developed by a reputable developer Qingjian who has won many accolades with Bellewoods, Bellewaters. who won the Construction quality assessment system star by the Building and Construction Authority (BCA).
This Construction Quality Assessment System Star award is the highest accolade for construction quality and it is given only if the development surpasses 95% of BCA workmanship quality standards.
Pricing 3.5 /5
Jadescape is not the cheapest price condo in this region, in fact it is reasonably and correctly priced based on surrounding region and against other new launches.
If you compare this with other new launch in Dist 19, where none of these condo has a near distance of 250m to MRT station. Jadescape offers a bigger size unit as well as close proximity to MRT.
Comparing Jadescape pricing of 1Bedroom unit, the average psf starts from $1739 psf, unit #03-58, 527 sqft at $916,633.
The 1 Bedroom units in Jadescape are bigger in size , 527sqft.Space and layout is efficient with a wide living room space for TV to be placed further.
The master room is spacious and can even accommodate a King Size bed.
With modern technology incorporated in this apartment, Qingjian even provided an intelligent dishwasher which could even wash your vegetables.
At the initial launch, Jadescape even catered some 1Bedroom units for the elderly which included features such anti-slip flooring, support bars fitted in the bathrooms, and kitchen cabinets to cater to wheelchair bound residents.
There are 3 types of 2Bedrooms available in Jadescape. The size are 646sf, 764sf Deluxe, and 775sf Premium.
The deluxe model is the showroom model. Overall it is very squarish in design , with no odd corners. The living is very wide about 3m, comfortable for TV viewing. And it has a designated area for dining where you can put a 4seater dining set.
Kitchen appliances are all SMEG brand and a FOTILE dishwasher is also provided.
The flooring of the unit is porcelain tiles and ceiling is 2.9m making unit spacious looking.
You can fit in Queen size beds in common room and no space is wasted in long walkway. Floor is engineered timber.
As you can see, the 2 bedroom are good in layout and size. Now, all the smaller 2bedroom and the bigger 2bedroom Premium are sold out. Only the 764 sqft units are left and most of them are higher floors.
What I like best in Jadescape is the 3Bedroom unit, it is one of the bigger 3bedroom you can find in the market today.
Jadescape offers a few types of 3Bedroom , sizes are 904sqft, 1012sqft, 1055sqft, 1152 sqft, and 1141sqft. It was so much in demand that now only 4 units of 3Bedroom premium is left.
4 Bedroom units, 2 types
D1 – 1259 sqft
D2 Deluxe – 1421 sqft
#02-08 D1, 1259sf, $2,091,735
#02-32, D2, 1421sf, $2,342,755
Jadescape 5 bedroom, size of 2099 sqft, it is very rare to find 5Bed of this size now. It is a luxurious unit suitable for big family or multi generation family. This 5 bedroom boast a huge living hall (6M width) with dry kitchen fully equips with SMEG brand appliances and a large wet kitchen and with a maid room.
The lowest price for 5Bed, 2009 sqft is #02-46, at $3,190,612 or $1520psf.
All the unit are very well designed, with available space as a main constraint.
Jadescape is marketed now at a good entry price, with discounts given for the circuit breaker period. It is being priced at one of the lowest price RCR project, to-date 69% is sold and the project will TOP in 4th quarter 2021.
We expect good exit price when all the new URA master plan additions are completed, such as the opening of North South Corridor, The Cross Island Line, and also new developments around Jadescape.
Only 7 new launches had happened in District 20 in the last few years and all these are sold out. Most of these new launches have already received their Temporary Occupation Permit (TOP).
They are
- Panorama
- Adana
- Thomson Impressions
- Thomson Three
- 183 Longhaus
- Sky Vue
- Sky Habitat
And there is not much new land for new development unless there are more enbloc sites. Possible sites for enbloc are Thomson View or Braddell View or Lakeview area. But enbloc activity has all stopped due to ABSD and other issues.
The URA Master Plan of Bishan Estate will make Bishan into a sub-regional centre and it will transform it into an attractive and easily accessible employment node that is integrated with community facilities to serve residents.
The master plan has made some changes to the growth of this area.
There are 3 new plots of residential land seen in the new Master plan with plot 3.5 which means it can be develop into tall condos. And this new developments will surely be more expensive than Jadescape because of the land cost, thus this means growth in Jadescape capital appreciation.
And last year, in Straits Times it was reported that plans are made to build another 1500 new BTOs in Bishan, this new group of BTO owners will pave wave for MOP buyers who will upgrade after staying 5 years in their new flats. This will help the resale of condos in Bishan area.
Rentability
As mentioned with the new master plan to make Bishan as a sub-regional centre, jobs will be created, demand for a rented unit increase, tenants pool is secured.
The current pool of rental tenants from Ang Mo Kio , Toa Payoh, and Pemimpin industrial areas, as well as from the many educational centres will continue to provide tenants in this region.
Best Stacks to select
All the 7 residential blocks in Jadescape is North-South orientated. No direct afternoon sun
- 1 bedroom – Cheapest stack is Stack 58, faces Shunfu Road (HDB direction) For pool view units Stack 38, and facing open stack 44, all these will not get afternoon sun.
- 2 bedroom. – If you prefer pool view, we have stack 19,26,31,30. This pool will be quieter than the skyline pool. If you don’t like pool view, stack 35 and 41 will be good for you as it is quiet and faces the private landed enclave.
- 3 bedroom No choice , only left with stack 61
- 4 bedroom – For the smaller 4bed, 1259sf, stack 08 & 24 face pool, stack 36 & 42, face landed view. For the bigger 4bed 1421sf units, stack 17 & 32 face pool.
- 5 Bedroom – Both stack 40 & 46 are facing the landed estate, it will be quiet, breezy and unblocked
Conclusion :
Jadescape is a very attractive condo with many positive attributes and with a right entry price and an expected exit strategy, Jadescape is a good property investment for both investors and home buyers.
For buyers who are looking for new condos near to MRT, Jadescape will be a benchmark for all the upcoming new residential projects in the city fringe which are located near an MRT station.
If you want to know about Jadescape, or which unit to select, do call me or make an e appointment with me. I will be most glad to share more info with you.
Thank you.
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