Sunhaven is a resort-themed freehold condo located in District 16, developed by DBS Realty Pte Ltd. Obtaining its TOP in 2002, it is one of the youngest freehold condominiums along Upper Changi Road East. Along with its freehold status, its proximity to upcoming major developments in eastern Singapore makes it an attractive option for investors and homebuyers who are in the market for an investment or legacy property.
If you are interested to find out more about Sunhaven, read on as we delve deeper into the project details, location, site, price, and MOAT analysis.
*This article was written in June 2023 and does not reflect data and market conditions beyond
Location Analysis
Sunhaven is located along Upper Changi Road East, 2 bus stops or a 13-minute walk away from Upper Changi MRT station on the Downtown Line (DTL). This ensures a hassle-free commute to the Central Business District, Marina Bay Financial Centre, and numerous other commercial hubs across Singapore.
In terms of shopping and dining options, the area is home to shopping malls such as Eastpoint Mall and Changi City Point. They are all within easy reach, offering a wide array of retail outlets, restaurants, and entertainment options. The Tampines cluster of malls and Jewel Changi Airport is also a short drive away, offering a myriad of entertainment, retail, and dining options.
Moreover, Sunhaven is situated close to Expo and Changi Business Park, making it a coveted location for professionals working in the area. International travel is also a breeze for residents, with its proximity to Changi Airport.
The location is also well-suited for families with school-going children. Numerous esteemed educational institutions are found in the vicinity, from primary schools to tertiary institutions. Some noteworthy ones include East Spring Primary and Secondary School, Ngee Ann Secondary School, ITE College East, and Singapore University of Technology and Design (SUTD). This ensures quality education at every stage, right in the neighbourhood.
Site Plan & Unit Distribution
The site of Sunhaven is an irregularly shaped and elongated plot of land. It is made up of a single residential block, with its 36 stacks taking the shape of a pistol. The development has been meticulously planned with its units oriented primarily in a north-south direction. This thoughtful layout reduces direct exposure to the harsh afternoon sun, resulting in a more comfortable living environment. Additionally, the orientation and positioning of the units have been carefully calibrated to ensure they afford expansive views of the surrounding cityscape and landscaping within the development.
Sunhaven also boasts a wide range of facilities designed to enhance the living experience of its residents. At the heart of the development is a sprawling, resort-style swimming pool. Designed with different depth levels, it caters to all residents – from children to adults. Around the pool, residents can find lush landscaping, creating a tranquil oasis amidst the bustling city life. It is also one of the rare developments that has playgrounds with sand pits, which has proven benefits for increasing children’s sensory input and development.
For fitness enthusiasts, the condo offers a fitness station, tennis courts, and even a jogging track within the estate. There are also multiple function rooms available, perfect for hosting parties or events. For the children, there’s a dedicated playground and wading pool ensuring their fun and safety. One of the most interesting facilities in Sunhaven is the inline/skateboard rink, which is rarely found in condominium projects. This would give skateboarding enthusiasts a place to practise without having to travel far.
Sunhaven offers 2-Bedroom to 4-Bedroom types spread across its 36 stacks, with units starting on varying levels across the stacks. What stands out is that Stacks 29 and 30 only have 3 units each in total, which is rather unusual for developers not to maximise the number of units. Looking at the site plan, Stacks 29 and 30 are unique stacks that are positioned “at the head of the table”, directly overlooking the entire pool.
3-Bedroom types make up the majority of the unit offering, while only 2 stacks in Sunhaven are made up of 4-Bedroom units. While the unit types cater to smaller families, the size range of the respective unit types are bigger than usual.
Price Analysis
Looking at the price trend of Sunhaven, we see a steady upward trend over the 10-year period from 2013 to 2023. The most significant drop in average prices happened in 2019, likely due to the effects of the cooling measures in 2018, which raised ABSD rates and tightened borrowing (LTV) limits for housing loans.
However, as a freehold development, its prices remained relatively stable even though transaction volume fluctuated quite a bit. Transaction volume is expected to be on the lower side for freehold properties, but Sunhaven still saw a healthy 23% growth in terms of average PSF prices from 2013 to 2023 and is currently transacting at an average PSF of $1,184.
Looking at the surrounding freehold developments, comparable projects within 1km radius include Cascadale (TOP 1994), Changi Green (TOP 1998), and Changi Court (TOP 1997). This makes Sunhaven the newest freehold condominium in the vicinity.
Starting with Cascadale, it boasts 134 units and is the oldest freehold condo in the area, obtaining its TOP in 1994. As a 29-year-old development, Cascadale has recorded a 26% growth rate since 2013 and is currently transacting at an average PSF of $1,107.
Moving on to Changi Green and Changi Court, the former has 256 units and obtained its TOP in 1998 while the latter has 297 units and obtained its TOP a year earlier in 1997. The two plots of land are right next to each other, with Changi Court located nearer towards Upper Changi MRT station. Despite Changi Court being an older development (by a year), it has recorded a higher average PSF since 2013, perhaps due to its closer proximity to an MRT station. Changi Green did briefly outperform Changi Court in 2019 and 2020, before the former caught up again and is currently appreciating at a rate of 18% since 2020. Changi Green is currently transacting at an average PSF of $1,144, while Changi Court is transacting at an average PSF of $1,238.
MOAT Analysis
The MOAT Analysis is a proprietary tool by PLB that presents a meticulous technique for estimating a property’s value, considering a wide array of influential factors. This strategy involves a comparative study of the property against others, grounded on ten key dimensions, to deliver an unbiased assessment of its attractiveness to the broader market in Singapore. To grasp a deeper understanding of our tool’s functionality, kindly refer to this article, which elucidates the MOAT Analysis in detail.
The following are the final MOAT scores of the developments we highlighted in the previous section: Sunhaven (56%), Cascadale (62%), Changi Green (60%), Changi Court (62%). Despite receiving the lowest score out of the projects in the area, let us explore the strengths of Sunhaven by zooming into the specific areas that it has performed well in.
According to the MOAT Analysis, Sunhaven got the highest scores for Quantum Effect, Bala’s Curve Effect, and Landsize Density Effect. A high quantum effect score means that the quantum prices of Sunhaven are relatively affordable for Singaporeans based on the latest national median income. Its high Bala’s Curve Effect score reflects its status as a freehold condominium that is not affected by lease decay. And lastly, a high landsize density effect score means that the development is not overcrowded with a good amount of land to unit ratio.
One possible reason for the lower score in Rental Demand could be due to Sunhaven’s proximity to the MRT station. Although it scored a 3 out of 5 for MRT Effect, the other developments that we have highlighted all sit closer to Upper Changi MRT station than Sunhaven. Proximity to public transportation is a crucial factor when it comes to rental. However, the units here are larger and could serve as an attractive factor for tenants looking for more spacious units.
Floor Plan Analysis
In this segment, we will highlight our top choice from each unit type available at Sunhaven. Our aim is to furnish you with useful knowledge that will assist you in choosing the perfect unit tailored to your tastes.
2-Bedroom
The Type A3 layout is larger than most 2-bedders, standing at 1,066 sqft. It features a relatively efficient design with each part of the home nicely segregated from one another. Entering the unit, you will be greeted with a wide angular layout for the dining and living area, with the kitchen and yard on your left. Both the master bedroom and common bedrooms are rather sizable, able to comfortably fit a queen-sized bed in each. The common bathroom is right outside the master bedroom, which might cause some noise concerns depending on the lifestyle of the occupants.
Although the household shelter is placed in the middle of the unit, the access is from inside the kitchen, which gives owners the flexibility of an open concept kitchen.
To maximise the space of the wide hall, you can also consider moving the dining area next to the household shelter and kitchen (after converting it into an open concept), and turn the current dining area into a small study.
3-Bedroom
For the 3-Bedroom types, we favour the Type B2 layout, which sits at 1,281 sqft. What we like about the unit is that the entrance does not directly face the living area, which offers some privacy as passers-by, guests, and delivery personnel cannot look directly into the home. The household shelter, although smaller than the one in the 2-Bedroom layout, is nicely tucked behind the kitchen together with the yard and a WC.
Another thing we like about this layout is that the master bedroom is segregated on the opposite end of the unit from the two common bedrooms. The common bathroom is also tucked at the end of the unit for easy shared access between the occupants of the two common bedrooms. For families buying for own-stay purposes, this layout can offer some degree of privacy between the parents and children.
4-Bedroom
Given that there are only 18 units that are 4-bedders (including penthouse units), these units are the most exclusive in the development. The C1 and C1e variations are mirror-image layouts, offering 1,453 sqft of space, including an expansive living and dining area.
These layouts do not offer a junior master with ensuite bathroom, which means that the occupants of the three common bedrooms have to share a single common bathroom – something to consider, be it you are buying for own-stay or rental investment purposes.
Overall, the layout is well-designed for families that enjoy having a large communal space while being able to withdraw into the privacy of their own rooms.
Growth Potential
Upcoming developments in the east and northeast sectors of Singapore indicate a promising future for the Pasir Ris and Changi areas. The government has placed a lot of emphasis in recent years on the development of Changi Business Park. Furthermore, with the emergence of the Punggol Digital District and the assimilation of aerospace capabilities in Changi Aviation Park, this region is on the brink of becoming a critical centre for technology and aviation sectors.
The forthcoming transfer of Paya Lebar Airbase is also predicted to drive a surge of skilled professionals into other airbases like Tengah and Changi. Nonetheless, Changi is likely to experience the most substantial expansion in operations, owing to the concentration of aerospace resources in the eastern part of Singapore.
In Summary
Sunhaven is a resort-themed freehold condominium located in Upper Changi with many rare and interesting facilities such as a playground with sand pits and an inline/skateboard rink within the development itself.
With the upcoming developments in the area, Sunhaven is poised to reap the benefits as a freehold development with no risk of lease decay. As the area becomes more connected over time and more professionals come into the area for work, rental demand will likely increase in tandem. Given its advantageous location and District 16’s growing appeal as a residential area, we hold a positive outlook on the potential appreciation for both own-stay residents and investors.
Let’s get in touch
If you’re considering buying, selling, or renting a unit and are uncertain about its implications on your property journey and portfolio, please reach out to us here. We would be delighted to help with any market and financial assessments related to your property, or offer a second opinion.
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