The Continuum Freehold Condo New Launch – Review, Prices, Investment Analysis

The Continuum is a freehold condominium development located at Thiam Siew Avenue in Singapore’s District 15. This article aims to provide an evaluation of this condominium.

Jointly developed by Hoi Hup Realty and Sunway Developments, The Continuum will consist of four 17-storey and two 18-storey towers, totaling 816 residential units. The two companies acquired the 24,507.06 square meter (263,794 square feet) freehold site through a public tender in November 2021.

The Continuum condominium is just a 10-11 minute walk from Paya Lebar and Dakota MRT stations, and is close to schools like Kong Hwa School, Haig Girls’ School, and Tanjong Katong Primary School.

This article aims to provide an unbiased assessment of The Continuum, helping you determine if this property is a suitable investment and make an informed decision. The evaluation will be based on the following aspects:

• Location Attributes
• Design Features
• Investment Potential

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The Continuum’s Unique Selling Points

• Reputable property developers with a strong track record in building quality homes.
• The largest new freehold launch in the eastern region.
• Located in a popular area, District 15, between Tanjong Katong and Haig Road.
• A 10-11 minute walk to Dakota and Paya Lebar MRT stations, providing easy access to the Central Business District (CBD), downtown Singapore, and major employment hubs.
• A vibrant area in close proximity to the Paya Lebar sub-regional centre, Katong, and Joo Chiat.
• An abundance of nearby amenities, shopping malls, and interesting F&B outlets.
• Adjacent to recreational spots like East Coast Park, Kallang Riverside Park, and the Singapore Sports Hub.
• Surrounded by popular schools, with several primary schools within a 2km radius.

The Continuum –Condominium Overview 

The Continuum Unit Types

The Continuum offers a variety of unit sizes, ranging from one-bedroom + study to five-bedroom apartments, catering to the needs of a wide range of homebuyers and property investors. Below is a breakdown of the different unit types:

The Continuum Unit Features

 Units are divided into two collections:

1. Signature Collection: 1-Bedroom + Study to 4-Bedroom units.
2. Prestige Collection: 3-Bedroom + Study to 5-Bedroom units with private lifts.

• Since The Continuum does not use Prefabricated Prefinished Volumetric Construction (PPVC) technology, residents have the freedom to demolish walls and reconfigure room layouts.
• All units have a storage room.
• Regular layouts for efficient space utilization.
• The 4- and 5-Bedroom Prestige Collection units will feature corner living/dining areas and 180-degree open balconies.
• The 4- and 5-Bedroom Prestige Collection units will be equipped with an island dry kitchen.
• The 4- and 5-Bedroom Prestige Collection units will feature large walk-in wardrobes with a built-in 4-piece bathroom set.

The Continuum Design Features

• A pedestrian sky bridge connects the North and South plots, providing residents with numerous amenities.
• A fusion of old and new—the house at 21 Thiam Siew Avenue has been converted into a clubhouse, complemented by modern high-rise residential buildings and extensive facilities. This design aims to revitalize historical architectural heritage.
• Upgrades to Thiam Siew Avenue, including wider roads, selected trees to beautify the landscape, and a landmark private pedestrian bridge, will create a unique and distinctive scenery.
• Fully equipped from the ground to the rooftop, including lush green landscaping, a 50-meter swimming pool, a wellness spa pool, pavilions, and panoramic views of the surroundings.
• Two levels of underground parking, with one dedicated parking space for each unit.

* Selected amenities to meet all needs—including sports and fitness facilities, a sky garden with expansive views, a sky gym, and an exclusive premium dining area on the upper floors.

• High-rise buildings with north-south orientation.
• Select premium penthouses that are spacious and bright.
• Elegant facade design featuring full-glass curtain walls, large picture frame windows, horizontal eaves, and vertical aluminum fins to enhance the building’s verticality.
• A total of 6 social spaces in the North and South clubhouses, with sky gardens and ground-level pavilions.
• Developed with the goal of achieving Green Mark Platinum Super Low Energy certification.

Who is the Developer of The Continuum

 The developer of The Continuum condominium is a joint venture between Hoi Hup Realty and Malaysia’s Sunway Developments, who acquired the two freehold plots for S$815 million. The two companies also have two other recent developments, Ki Residences and the freehold residential project Terra Hill.

Hoi Hup Realty—Established in 1983, it has successfully completed a diverse portfolio of residential developments over the years. This includes private condominiums, landed housing, cluster housing, executive condominiums, and mixed-use commercial developments.

Sunway Developments—Founded in 1974, it is one of Malaysia’s top multinational real estate and construction companies, with operations in 50 locations worldwide. The group has won over 200 national and international awards for building sustainable and environmentally friendly developments.

What is the Price of The Continuum Condominium

 The indicative prices for The Continuum condominium are as follows:

• 1-Bedroom + Study: From S$1.448 million (S$2,580 psf);
• 2-Bedroom: From S$1.671 million (S$2,587 psf);
• 2-Bedroom + Study: From S$1.82 million (S$2,600 psf);
• 3-Bedroom: From S$2.3 million (S$2,638 psf);
• 3-Bedroom Premium: From S$2.759 million (S$2,588 psf);
• 4-Bedroom: From S$3.207 million (S$2,525 psf).

Compared to Terra Hill, which launched on February 25, 2023, with an average selling price of S$2,650 psf, the above prices are very competitive.

According to the public tender that closed on November 18, 2021, Hoi Hup Realty and Sunway Developments purchased the two freehold development sites on Thiam Siew Avenue for S$815 million.

The site, which consists of 22 smaller plots, has an area of 25,083.2 square meters (269,995 square feet) and a plot ratio of 2.8. The development charge is estimated at S$284 million, bringing the land price to approximately S$1,488 per square foot per plot ratio (psf ppr). Including a 7% bonus balcony area (with an estimated development charge of S$39.3 million), the land price is about S$1,440 psf ppr.

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Where is The Continuum Condominium Located

The Continuum condominium is located at Thiam Siew Avenue in District 15 of Singapore, flanked by Tanjong Katong Road and Haig Road.

The site is a combination of two large residential plots, which include 22 pre-World War II freehold semi-detached bungalows on both sides of Thiam Siew Avenue.

To the north, east, and south of The Continuum are some high-rise residential buildings with considerable spacing between them. Therefore, residents at The Continuum can still enjoy views of East Coast Park.

The west side of the project consists mostly of low-rise and landed properties, which allows for better air circulation and a more pleasant living environment.

The Continuum is just a 10-11 minute walk from Dakota MRT station (Circle Line) and Paya Lebar MRT Interchange (East-West and Circle Lines).

The area’s proximity to the Paya Lebar sub-regional centre, Katong, and Joo Chiat combines modern elements with a rich cultural atmosphere and traditional charm, creating a unique appeal.

The Continuum’s Convenient and Comprehensive Public Transport Network

 A 10-11 minute walk from The Continuum takes you to Dakota MRT station (Circle Line) and Paya Lebar MRT Interchange (Circle and East-West Lines), allowing residents easy access to major shopping malls, leisure and entertainment venues, as well as key employment hubs. Places reachable within a few stops include:

• Bugis–4 stops
• City Hall-5 stops
• Expo-5 stops
• Raffles Place-6 stops
• Changi Airport-6 stops
• Tampines Regional Centre-6 stops
• Marina Bay–7 stops

Expressways Near The Continuum Condominium

The Continuum condominium is conveniently located just a 5-6 minute drive from four major expressways:

• East Coast Parkway (ECP)
• Pan-Island Expressway (PIE)
• Kallang-Paya Lebar Expressway (KPE)
• Nicoll Highway

Major Employment Hubs Near The Continuum

The proximity of The Continuum to major employment hubs means a large pool of potential tenants, attracting property investors. These employment hubs include:

Paya Lebar Sub-regional Centre—Located around Paya Lebar MRT station, this 3.9-hectare area is a mixed-use zone with retail, commercial, and residential components. The government’s plan for this area is to decentralize the Central Business District, allowing residents to find jobs closer to home and significantly reduce commute times. Additionally, being designated as one of Singapore’s 10 Business Improvement Districts injects more vibrancy into the area.

Raffles Place and Marina Bay Financial District—As the heart of Singapore’s financial and commercial center, this area is home to many global financial institutions and multinational corporations. These entities have established their regional headquarters here to leverage Singapore’s position as the world’s third-largest financial hub.

Changi Region—Comprising Changi Airport, Changi Business Park, Changi Aviation Park, and Changi City, it will be developed into a vibrant and diverse area, ensuring Singapore’s status as a leading aviation hub.

Paya Lebar Air Base—Set to be relocated starting from 2030, the 800-hectare site (five times the size of Toa Payoh) will be progressively developed into a highly livable and sustainable new town. There are also plans to develop it into a major employment hub, creating a convenient community where residents can live, work, and play.

Vibrant Community—A Fusion of Modern Elements and Traditional Charm

Located within the Marine Parade Planning District, which includes Katong and Joo Chiat, the area has undergone development and rejuvenation, including the development of Katong Square and the renovation of Flow and i12 Katong Mall, all contributing to the area’s modernization.

However, many parts of the area still retain their traditional charm, with colorfully painted shophouses featuring intricate and well-preserved designs. Combined with a rich Peranakan and Eurasian heritage, this creates a charming living environment that is highly attractive to property investors.

Some shophouses have been converted into eateries offering a variety of local, Asian, and Western cuisines. There are also shops selling traditional delicacies like dumplings, pastries, and Teochew Kueh.

Shopping Malls Near The Continuum

The Continuum is close to many shopping malls, where residents can find a variety of retail, leisure, relaxation, and entertainment options. Places within walking distance include:

• PLQ Mall
• Paya Lebar Square
• Singpost Centre
• City Plaza
• KINEX Shopping Mall
• Tanjong Katong Complex
• Joo Chiat Complex

A little further, within a 4-7 minute drive, there are several other shopping malls, such as:

• Katong Shopping Centre
• Parkway Parade
• i12 Katong Mall
• Katong Square
• The Flow
• Kallang Wave Mall

For groceries, the two nearest supermarkets are HAO mart at KINEX and FairPrice Finest at PLQ Mall. Alternatively, residents of The Continuum can also visit the popular Haig Road or Geylang Serai wet markets for fresh produce.

Fun-Filled Food Courts and Food Paradise

Residents of The Continuum have many food options. For affordable and popular local delicacies, three food centers are just an 8-12 minute walk away:

• Haig Road Market and Food Centre
• Geylang Serai Market and Food Centre
• Dunman Food Centre

In addition, residents can visit the many interesting restaurants along Tanjong Katong Road, Joo Chiat, and East Coast Road, which offer a wide variety of cuisines, such as local, Western, Thai, Indonesian, Malay, Indian, Peranakan, and more.

There are also many trendy cafes and dessert shops that are popular with people of all ages, making it a true food paradise.

Recreational Attractions Near The Continuum Condominium

Several popular recreational attractions are near The Continuum condominium, providing a comfortable home and living environment. These attractions include:

East Coast Park—A popular destination for various outdoor recreational activities such as camping, jogging, cycling, rollerblading, and more. Water sports enthusiasts can take courses in windsurfing, kayaking, and stand-up paddleboarding offered by PA Water Venture.

For young children, there are several playgrounds like Coastal PlayGrove and Marine Cove, offering a variety of activities suitable for different age groups, including vertical climbing nets, long tube slides, rope bridges, talk tubes, and more.

Singapore Sports Hub—Another popular recreational destination where you can enjoy a variety of entertainment, sports, and outdoor leisure activities, including lawn bowls, rock climbing, “Splash-N-Surf” water play, kayaking, and canoeing.

In the future, residents can also look forward to new entertainment and sports facilities planned under Kallang Alive, including a football hub, a tennis centre, the redevelopment of Kallang Theatre, and a Youth Hub. The Youth Hub will feature a go-kart track, speed climbing facilities, and a BMX track.

Kallang Riverside Park—With its calm waters, it is an ideal place for water sports enthusiasts to practice dragon boating, kayaking, and water skiing. It is also a popular spot for fishing and bird watching, where birds like little egrets and herons can often be seen during the migration season.

The riverbanks are equipped with fitness equipment, jogging and cycling tracks, and a children’s playground, ensuring fun for the whole family.

Goodman Arts Centre—Home to over 40 arts groups, it showcases a wide range of arts and cultural programs, including dance, theatre, poetry, and fine arts. It also offers workshops that encourage families to build closer bonds through artistic activities.

Popular Schools Near The Continuum

The Continuum is near many popular schools, which not only attracts families with children but also many property investors due to the potential for higher rental yields and excellent investment prospects.

This is thanks to the Ministry of Education’s distance-based admission system for Primary 1 registration. According to a study by the NUS Institute of Real Estate Studies, properties near good schools command a higher price premium than those further away. Therefore, it is not surprising that The Continuum is highly attractive due to its excellent location.

An analysis of The Continuum’s rental and capital appreciation potential is detailed in the final section of this article.

A list of schools near The Continuum condominium is as follows:

International Schools Near The Continuum

There are several international schools near The Continuum, and the abundance of expatriate tenants from the surrounding employment hubs is highly favorable for property investment.

The nearest is the Canadian International School, just a 12-minute walk from The Continuum condominium.

International schools near The Continuum include:

• EtonHouse International School Broadrick
• Olympiad International School
• 5 Steps Academy
• Nexus International School

The Continuum Investment Analysis

The area around Tanjong Katong Road and Haig Road is predominantly composed of landed properties and small condominium developments. The Continuum, with its large land size, stands out as a landmark building in the area.

But what is the investment potential of such a large development? To answer this question, let’s analyze the performance of three neighboring condominium developments, all within walking distance of an MRT station:

• Seaside Residences, an 841-unit, 99-year leasehold condominium launched in April 2017 (completed in 2021).
• Questa @ Dunman, a 122-unit freehold condominium launched in March 2011 (completed in 2013).
• One Amber, a 562-unit freehold condominium launched in April 2005 (completed in 2010).

To analyze the performance of these three properties, we use the launch of Seaside Residences in Q2 2017 as a baseline. As seen in the chart above, the average price appreciation for the three properties is as follows:

• Seaside Residences: +24%
• Questa @ Dunman: +12%
• One Amber: +32%

Some Interesting Observations

When analyzing the average price performance of these properties, considering the differences in age, some interesting observations arise:

The larger, 841-unit, 99-year leasehold Seaside Residences performed better than the smaller, 122-unit freehold Questa @ Dunman ⇒ +24% vs +12%.

The older, 562-unit freehold One Amber performed better than the newer, 841-unit, 99-year leasehold Seaside Residences ⇒ +32% vs +24%.

The larger and older freehold One Amber performed better than the smaller and newer freehold Questa @ Dunman ⇒ +32% vs +12%.

As of the launch of Seaside Residences, the older One Amber also outperformed the newer Questa @ Dunman ⇒ 39% vs 24%.

Conclusion

In summary, the data suggests that large-scale freehold condominium developments have a higher rate of capital appreciation than:

1. Smaller and newer freehold developments
2. Larger and newer 99-year leasehold developments

This may be attributed to several inherent advantages of large-scale freehold condominium developments:

• Larger projects offer more facilities and landscaping.
• Freehold developments are less affected by the issue of lease decay.

* Based on transaction volume comparisons, larger developments have more transactions, which more accurately reflect the current value of the property.

• Financial institutions and valuers base their property valuations on recent transactions. Properties with low transaction volumes may not reflect their actual value and are therefore less popular, especially in a rising market.

Rental Analysis

The chart below shows a sample of freehold and 99-year leasehold properties in District 15, along with their corresponding average rental yields, which range from 2.6% to 3.4%. This is very healthy in today’s property market. In fact, it is not surprising for rental yields in the Core Central Region (CCR) to be around 2%.

It is worth noting that the difference in rental yield between small-scale and large-scale developments, or between freehold and 99-year leasehold developments, is minimal. This indicates strong demand for all types of housing in the area, mainly for two reasons:

1. Proximity to popular primary schools, such as Tao Nan School and Maha Bodhi School, which are located within a 2km radius of the property.
2. The high popularity of District 15, which is one of the most coveted residential areas outside the Core Central Region (CCR). This is largely due to its convenient transportation network, easy access to various amenities, and a unique charm that blends modern elements with traditional features.

Upcoming New Launches in District 15

The Continuum may face competition from two upcoming developments nearby:

Tembusu Grand—A 638-unit condominium project jointly developed by City Developments Limited (CDL) and MCL Land, located about 650 meters from the upcoming Tanjong Katong MRT station on the Thomson-East Coast Line. The two companies secured the site in November 2022 with a top bid of S$768 million, or a land rate of S$1,302 psf ppr.

Grand Dunman—A large-scale condominium development with 1,035 units by SingHaiyi Group, which acquired the site in June 2022 with a top bid of S$1.28 billion, or a land rate of S$1,350 psf ppr.

Based on the land costs, these two upcoming condominium developments are expected to have an average selling price of S$2,450 to S$2,550 psf, while The Continuum’s average price is S$2,700 psf.

Government Land Sales (GLS) and En Bloc Sites

Meanwhile, on December 8, the government announced that an additional 99-year leasehold site at Jalan Tembusu has been placed on the Confirmed List. This site, located next to Tembusu Grand, covers an area of 221,436 square feet and is expected to yield 825 units. However, given the large number of new projects being launched in the area, property developers may be cautious when bidding for this site, with the tender expected to take place in March of this year.

In addition to the upcoming Government Land Sales, more units will be launched on two freehold en bloc sites:

La Ville—Sold to the Hong Kong-listed property firm ZACD Group for S$152 million, or a land rate of S$1,477 psf ppr, including an additional 7% bonus gross floor area. The project is expected to yield about 107 residential units.

Meyer Park—Sold to a joint venture between UOL Group and Singapore Land Group (80/20) for S$392.18 million, with a land rate of S$1,668 psf ppr, including an additional 7% bonus gross floor area. It is expected to yield 251 residential units.

Both of these are higher than The Continuum’s land price of S$1,440 psf ppr. Considering Meyer Park’s significantly higher land cost, this development could set a new benchmark for District 15, with an estimated average selling price of around S$3,100 psf.

Therefore, with an expected average selling price of S$2,700 psf, The Continuum remains an attractive option for property investors.

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