The luxurious and well-known Singaporean businessman and boutique property developer, Que Neo of Euro Properties, is always on the lookout for new residential projects to develop. As a man with a discerning taste, he only wishes to create projects where he would like to reside in himself. Euro Properties’ subsidiary, EG Properties, is currently working on their latest project, the K Suites, which is a 19-unit apartment block located along Lorong K Telok Kurau in the highly coveted East Coast area of District 15. The project is expected to attain its temporary occupation permit (TOP) in the first quarter of 2025.
One of the key selling points of K Suites is its prime location, offering easy access to the beach, East Coast Park, shopping malls, the Central Business District (CBD), and the Changi Airport. Neo emphasizes that with the East Coast Parkway and Pan-Island Expressway, residents can reach the airport in just 10 minutes and downtown in another 10 minutes.
K Suites is also conveniently located near public transportation. The nearest bus stop is less than 50m away and from there, it takes only two stops to get to the nearest MRT stations: Marine Parade on the Thomson-East Coast Line (TEL) and Eunos on the East-West Line (EWL). Additionally, Eunos Station is just one stop away from the Paya Lebar Interchange, which connects to both the EWL and Circle Line. The Bugis Interchange for the EWL and Downtown Line is also just five stops away.
Families with young children will be pleased to know that K Suites is located near popular schools. It is just two doors away from PCF Sparkletots @ Joo Chiat, a highly sought-after preschool. Within a 1km radius, there are also renowned primary schools like Tao Nan School, Haig Girls’ School, and CHIJ (Katong) Primary. For secondary education, there are prestigious schools such as Dunman High School, Tanjong Katong Secondary School, and Tanjong Katong Girls’ School nearby.
Designed by JGP Architecture, K Suites boasts a sleek and modern exterior, thanks to its curtain wall system. The glass facade allows for plenty of natural light and unobstructed views of the surrounding area. The units have regular layouts, with most having a ceiling height of 3.5m to 4.5m. The penthouses, on the other hand, have a 7m ceiling height, making them the most coveted units in the development. Neo notes that there are no bay windows or wasted corridors in the apartments, creating more space and efficiency.
The apartments are fitted with high-end German brand fixtures such as Miele kitchen appliances, Duravit sanitaryware, and Grohe bathroom fittings. Facilities for residents include a swimming pool, Jacuzzi, barbeque pit, lounge area, gym, outdoor fitness area, and playground. The development also boasts a grand arrival and drop-off area, and a large surface car park with 16 spaces and two electric vehicle charging stations.
Since the preview of the freehold project in September 2022, the first phase of 10 units has already been sold. According to Neo, the buyers are mainly Singaporean professionals, such as doctors, lawyers, and corporate executives. K Suites offers a range of unit types, including three-bedroom units ranging from 797 to 872 sq ft, and four-bedroom units ranging from 1,076 to 1,130 sq ft. The penthouses, the largest units in the development, are five-bedroom units ranging from 1,625 to 1,679 sq ft. Only one penthouse is still available, as the other three have already been snapped up by large families looking for a spacious home. The ground-floor units, with a ceiling height of 4.5m and views of the landscaped garden and facilities, are popular among those downsizing from a house to an apartment.
Neo shares that the buyers are mostly upgrading from their current homes or downsizing to a prime freehold property in District 15. As a freehold development in a highly coveted area, K Suites is the most affordable option in the district. With the project’s TOP fast approaching and the current positive market sentiments, Euro Properties is now releasing the remaining units to interested buyers. Three-bedroom units at K Suites are priced from $2.058 million ($2,582 psf), while four-bedroom units start from $2.525 million ($2,347 psf). The sole five-bedroom penthouse is priced at $3.5 million ($2,154 psf).
When contemplating an investment in a condo, it is essential to evaluate its potential rental yield. The rental yield is the yearly rental income as a proportion of the property’s acquisition cost. In Singapore, the rental yields for condos can fluctuate significantly, depending on various factors such as location, property condition, and market demand. Areas with a high demand for rentals, such as those near business districts or educational institutions, often offer more favorable rental yields. To determine the rental potential of a specific condo, conducting thorough market research and seeking advice from real estate agents can be valuable. Singapore Projects are a valuable addition to consider when examining the rental potential of a particular condo.
For those looking to invest, District 15 is a popular area among expatriates due to its convenient location near the beach, East Coast Park, and a wide range of F&B options and shopping malls. K Suites, with its luxurious facilities and prime location, is expected to appeal to this group of tenants. In a study conducted by Huttons Data Analytics, it was found that selected boutique developments in District 15 have seen prices appreciate by over 100% since their launch. Prices at the 127-unit Coralis, for example, have increased by 234.2% since its launch in January 2002. Over the past five years, monthly median rents in boutique condos in Telok Kurau and Joo Chiat have also increased by 76.5%, making them a popular choice among expatriates. With its attractive location, efficient layout, and top-quality materials, K Suites is set to be a highly sought-after residence that offers exclusivity and a tranquil living experience.