Piermont Grand is developed by one of the most respected developer, City Developments Limited (CDL) and TID residential. Past projects including The Brownstone and The Criterion. The site was hugely contested and eventually the developers won the bid at a record land price, $509.37 million. This is an unprecedented amount paid for an EC site.
|Expected T.O.P||28 February 2023|
|Number of Units||820|
IN THIS POST
In Piermont Grand
|Unit Type||Area (sq ft)||Number of units|
|3 bedroom||840 – 990 sqft||247|
|3 bedroom Superior||904- 1044 sqft||109|
|3 bedroom Deluxe||947 – 990 sqft||77|
|3 Bedroom Premium||1012-1130 sqft||108|
|4 bedroom Premium||1302 – 1367 sqft||192|
|5 bedrooms Premium||1432 – 1507 sqft||87|
Moving on to the “The Lakes”. This is a place that you get to spend some family time together. Other than the function room, it comes with a children’s party room, I do not see this often. More kid friendly pools are situated here, like the family pool and children pool. “The Hills” will feature a tennis court and more BBQ pits.
Punggol is also touted as the wetland in the city. Punggol promenade nature walk connects 4 parks and take up to 3 to 4 hours to walk the entire loop! Piermont Grand residents can start the walk right at their doorstep from the waterway to enjoy the scenic walk and enjoy viewing rare mangrove plants and floating wetlands.
No doubt, the best facing definitely will be the ones facing the waterway. Unsurprisingly, they are for the bigger units, 4 and 5 bedrooms. The extended lush landscaping creates more setback between the units facing the waterway and the next nearest HDB building that is across the waterway to about 66 to 88m.
For other facing, although it is surrounded by HDBs, the units facing outwards will still get pocket views of Punggol’s skyline and Punggol Reservoir. This a big site for EC with 820 units in 54 stacks. The distance between blocks is also not compromised, with good setback distance between blocks.
For those concerned for the site near the tennis court, there’s a place of worship site yet to be built. It is confirmed to be reserved for Singapore Soka Association. For those who are not aware, it’s a Buddhist movement for peace, culture and education. Mostly classes and community activities will be held there.
Located at Sumang walk, this is generally a new part of Punggol that is still not that developed. It is sandwiched between 2 LRT stations, Sumang and Nibong LRT stations. If you are commuting from Sumang LRT, it will take 1 stop to Punggol MRT station. If you intend to walk, it will take about 12 mins to reach the same location. Punggol MRT is integrated with Waterway Point where most amenities will be at. Within the vicinity, supermarkets and coffeeshops are just a short walk away. For schools, plenty of options from Primary to Secondary schools starting with Punggol Cove Primary just across the road.
Piermont Grand, 3 Bedroom Premium, Type A4d, 1130 sq ft
This is the biggest unit type for 3-bedroom at 1130 sqft. For this type, it comes with different layouts too. Upon walking in, you will see the dining and living area immediately. It fits a good size dining table for 6. I don’t see many developers doing this, they are providing the unit with haiku ceiling fans in the living room. I did a check on Haiku’s website, their fan costs at least $860 onwards. There’s also a good space allocation from the sofa to the tv console.
This layout does have a yard, where the washing machine (not provided) is placed and a water closet (WC).
The utility acts like a flexi room as well because of its position. As it’s a non PPVC, you can ‘enlarge’ the living and dining space further if you wish to make do without the utility room.
Bathing sanitary is provided by Rigel and Hansgrohe. Cool theme can also be differentiated in the bathroom.
The highlight of this layout though, will be the master bedroom. It is huge! It is spacious to walk around, and you can even fit in a small table! It comes with a walk-in wardrobe and there’s a secret compartment, a side accessories cabinet with a tic tac door system. Most of the wardrobe do not comes with a full-length mirror. Finally spotted one with it.
There’s a small balcony in the master bedroom as well. Maybe it is just me, I would prefer to have just one balcony in the unit. Thankfully, 3-bedroom premium has other layouts that come without it.
Piermont Grand 4-bedroom, Type B4-P1, 1367 sq ft
The show unit is showing a ground floor unit, it has a ceiling height of 3.95m (typical unit is only 2.9m) in the living and dining area. Walking in, the high ceiling makes the space look so much bigger. The long corridor to the living and dining takes up a bit of space.
You get a junior master bedroom for this layout. One more extra attached bathroom here. The downside will be the common bathroom is very small by any standard.
All bedroom ceiling height for ground floor unit is at 3.2m. Visually the room looks spacious with the high ceiling.
The question on everyone’s mind. Can Piermont Grand justify its price tag? Piermont Grand is going for an average of $1099 psf. I will compare this in 3 ways by comparing past EC performances, HDB prices and neighbouring condominium prices.
These are the recent MOP ECs and its distance to the MRT in Punggol. Based on the last 10 transactions.
The living and dining are back to back. Not exactly a big space but it is sufficient for a 3 bedroom.
|EC||Distance to Punggol MRT||Average Profit|
|Riverparc Residence||1.8 Km||$213K|
|Piermont Grand||679 M||?|
Based on Onemap, Piermont Grand sits 679m away from Punggol MRT. It sits in between the distance of RiverParc Residence and Prive. It will be everyone guess on the resale prices in future.
Punggol is also an HDB estate. Most residents staying there are young working class and have the potential to upgrade in future to ECs or private condominiums. Very likely after staying at least 5 years in their flat, they will choose to upgrade in Punggol as they are used to staying there and probably have school going kids studying nearby. But they must have healthy cash proceeds from their BTOs before they are convinced to invest in Punggol again. I take a look at the nearest blocks that reach MOP near Piermont Grand. There are also clusters nearer to Piermont Grand yet to MOP.
|Unit Type||Share Value||Estimated Maintenance Charges per Month (Subject to GST) – SGD|
|3 Bedroom – Type A1a-P/ A1a /A1a-PH A1b-P/ A1b / A1b-PH A1c-P / A1c / A1c-PH A1d-P/ A1e-P/ A1f-P/ A1g-P||6||$264|
|3 Bedroom Superior – Type A2a/ A2-PH A2b-P/ A2b/ A2b-PH A2c-P/ A2c/ A2c-PH A2d-P/ A2d/ A2d-PH||6||$264|
|3 Bedroom Deluxe – Type A3a/ A3a-PH A3b/ A3b-PH||6||$264|
|3 Bedroom Premium – Type A4a-P/ A4a/ A4a-PH A4b-P/ A4b/ A4b-PH A4c/ A4c-PH A4d-P/ A4d/ A4d-PH A4e/ A4e-PH A4f-P/ A4f/ A4f-PH A4g-P/ A4h-P||6||$264|
|4 Bedroom Premium – Type B1-P/ B1/ B1-PH B2-P1/ B2-P2/ B2/ B2-PH B3-P/ B3/ B3-PH B4-P1/ B4-P2/ B4/ B4-PH B5-P/ B5/ B5-PH||7||$308|
|5 Bedroom Premium – Type C1-P/ C1/ C1-PH|
C2-P1/ C2-P2/ C2-P3/ C2/ C2-PH
The maintenance fee at Piermont Grand is on the cheaper end. Considered what you will be paying for conservancy charges and sheltered parking for a HDB 5 room flat. With all these including the facilities, 3 bedrooms will estimate to be from $264 and the bigger units of 4 and 5 bedrooms at $308.
What is coming up in the area?
Punggol Digital District opens from 2023 onwards, this is not only where the Singapore Institute of Technology will be. It is also a place for businesses and families too. JTC business park and community spaces are there to complete the transformation. To benefit the residents staying nearby, it is well connected with the surrounding residential estates and Punggol Coast MRT will be integrated with the business park to serve the digital district. In all, a place to work, live, play and learn.
Cross Island Line (Punggol extension)Construction will begin next year, the 7.3 km extension will include 4 additional stations, Punggol, Riviera, Elias and Pasir Ris. With 3 stations will serve as interchange to other lines. This will bring great convenience to the residents in the area as it will cut the time travelled between Punggol to Pasir Ris by 20 mins.
Gernerally, ECs will take 3 years to build and 5 years to complete your MOP. In total, you will need to hold 8 years before you can sell. Considering the holding time, ECs will see gradual capital appreciation and is one for the long term.
I do feel the developer behind the development is important, with a strong brand name like CDL. From their past track record, it will be assuring for buyers on their quality and is important as you are holding it for at least 5 years!
Although I still feel it is quite hard to stomach to pay a premium to get an EC nowadays. But Punggol itself, is interesting. Looking at the prices nearby, be it HDB, EC or private condominiums, it is not exactly cheap now. With the upcoming Punggol digital district and the extension of cross island line will definitely transform Punggol further.