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Clavon Price – It’s the new launch that we all have been anticipating! One of the highlights of this new development would be the Clavon Price which is expected to be very attractive for upgraders and first-time homeowners. As prices in the Core Central Region (CCR) has been showing steady growth year on year, the new developments at the city fringe become very attractive as homes in the core central area come at an increasing premium.
The Clavon Price is expected to be set at an affordable level, especially for first time private homeowners. Coupled with the limited supply in the Clavon location which is the Rest of Central Region (RCR), it is anticipated that Clavon will be very well received as residents can now live and work near the city without burning a hole in their pockets!
From an investment perspective, the Clavon Price is expected to enjoy good growth potential over the next few years. Firstly, there is a very limited supply of private residences in Clementi Avenue 1. In an estate that is filled with many prestigious schools, many families are eyeing to buy a place to stay near the schools. When the first private residence Clement Canopy was launch by the Clavon Developer in February 2017, the 505-unit development was an instant sell-out!
Secondly from the track record of the newly completed Clement Canopy, we can foresee the Clavon Price to grow in a similar trajectory. For those who bought Clement Canopy, it was a very good choice for own stay and investment. Based on Edgeprop data, the average price for Clement Canopy during its launch in February 2017 was around $1,337 per square foot and to date, the average price in August 2020 is around $1,515 per square foot. This translates to an estimated growth of 15% within 3 years which is very attractive given its lower risk profile compared to investment in stocks and shares.
Thirdly, given the market conditions due to Covid-19, we expect the property market to be more attuned to the present market sentiments and the Clavon Price would remain attractive and affordable for its target audience. A recent new launch in September 2020 in District 14 registered a record sale of over 60% on its launch weekend. The developer attributed its success to the careful timing of the launch and also the sensitive pricing amidst the present market conditions.
That’s not all. The month of August has also registered the highest sale of new homes since September 2019. Despite being a Hungry Ghost month which locals would avoid buying property, August 2020 has defied taboos and Covid-19. We can expect a sensitive Clavon Price, this new development may also defy market sentiments. In August 2020, developers sold a total of 1,256 units of new homes, 16.3% higher than July 2020 and even exceeded pre-Covid August 2019 by 11.8%.
This is simply unbelievable! Analysts attributed the robust takeup rate partly due to the pent-up demand after the circuit breaker. However, there are also other important drivers such as the ultra-low interest rates for home financing. Furthermore, given the highly regulated Singapore property market, the property remains a favored investment safe haven by Singaporeans.
Despite the impact of Covid-19 on the economy, property prices of new launches have shown resilience. Many have expected prices to fall and some even predicted the property market to go through a major price correction but the Singapore market has been holding up very well despite the negative sentiments.
URA has just released Q3 2020 flash estimates on 1st October 2020 that prices in the Rest of Central Region (RCR) has increased by 3.3% from the previous quarter. With these encouraging facts and figures from URA, there is the confidence that there is good market support for the Clavon price and given that RCR is one of the fastest-growing region, future residents can look forward to a healthy potential upside for their property.
In comparison to the recent new launches in the core central region (CCR) which is above $3,000 per square foot, Clavon Price becomes very appealing as the development is located within 15 to 20 minutes to the city. It is a great value proposition to be able to live near the city, surrounded by top schools and convenient access to well-established amenities in Clementi, Ghim Moh, Dover, and even Holland Village.
In addition, District 5 where Clavon Condo is located has been growing steadily over the past years with the transformation in the surrounding areas such as One North district and the Science Park region. Therefore, without a doubt, the market is expecting this new development to garner a strong takeup like its predecessor Clement Canopy!
Over the past few years, properties Outside the Central Region (OCR) have experienced a huge uptrend. As such we are seeing prices of the Rest of Central Region lagging a little behind and not increasing at the same pace as OCR. Developments Outside the Central Region (OCR) have undergone tremendous growth due to strong demand from HDB upgraders and first-time homeowners. With the increasing number of HDB flats reaching their Minimum Occupation Period (MOP) and the increase in household income, many families now have the means to upgrade to their first private property in a shorter time.
As such, prices Outside the Central Region (OCR) has been growing at a faster rate than those in the Rest of Central Region (RCR). As a result, the price gap between OCR and RCR has been narrowing. With this, the Clavon Price becomes very appealing as the additional premium required to enter the RCR market becomes manageable for those who thought they could only buy developments in OCR.
In addition to the supporting growth from OCR, based on the URA Masterplan 2019, Clementi will undergo a series of transformations that will rejuvenate the mature estate. Being one of the oldest housing towns in Singapore, there are plans to increase private and public housing options, recreation spaces, enhanced healthcare facilities for seniors, beautiful landscapes, waterways and park connectors in the area. Furthermore, the macro plan is to enable Clementi to be closely linked to Jurong Lake District where there will be ample employment opportunities.
Through the plan, Clement and its vicinity will become a vibrant hub that enables work, live and play for its residents. In view of the 2019 Masterplan, future owners would be thrilled that the present Clavon price is an attractive entry price for a location that will be undergoing an enormous transformation in the years ahead and this will inevitably bring about enhanced the value for the development. So, check Clavon Floor Plan and to see 1,2,3,4 bedroom layouts. Book your appointment now to visit Clavon Showflat.