The new GLS site for Ang Mo Kio has already attracted 15 bids, setting it to be the first private residential development launched in eight years. In this article, we will be discussing the AMO Residence price and its rentability.
The price for this 12,679.4 sqm piece of land along Ang Mo Kio Ave 1 has been announced as $381 million, or around $1,118 psf per plot ratio (psf ppr). United Venture Development bought AMO Residence which will operate under the 60:20:20 joint venture between UOL Group; Singapore Land Group; and Kheng Leong.
Check out more on the official website!
What does the site have to offer?
The AMO Residence is situated in a landed enclave with views of the vast greenery. You can also enjoy lush trees and beautiful flowers from your window, which gives you an open-air feeling while staying indoors! One thing that makes this place even better? It’s close by to one epic hiking trail at MacRitchie and Peirce Reservoirs.
The extensive number of schools nearby makes this area an excellent choice for families with school-going children. Reputable primary schools like Ai Tong School and CHIJ St Nicholas Girls’ School is only a 1 km distance. Popular secondary institutions such as Anderson Secondary Institute or Catholic High Institution can be found nearby too.
The Mayflower MRT station is within walking distance. It’s situated along the Thomson-East Coast Line and will be mostly operational by 2025 just in time for this project’s TOP! With the opening of this station, getting around Singapore has never been easier. You will only need to take 4 stops to Woodlands MRT and 8 stops to Orchard Road! Furthermore, there’s also an upcoming Cross-Island Line at Bright Hill Station. This is only a stop away! The Circle Line, North-South Line, and Downtown Line are only 3 stops, 4 stops, and 5 stops away respectively. Getting around Singapore has never been so convenient.
Additionally, the completion of the North-South Corridor will be beneficial to those living in this area. Starting from Woodlands and ending at CBD, there are plans for an expressway with dedicated bus routes as well cycling lanes which should make connectivity much easier than before! This will cut through towns such as Yishun, Ang Mo Kio, and Toa Payoh.
What can we expect from AMO Residence?
With the extensive amount of land and estimated number of stories, we can expect that these units will be large enough for families. Besides, the facilities seem adequate as well!
With Avenue South Residence and MeyerHouse, UOL already has a number of projects that offer incredible features. Their more recent additions such as Clavon located at Clementi can be considered self-contained communities with tons to offer within the site. We’re sure this will not have any difference when it comes to Ang Mo Kio itself!
AMO Residence Price – What are we expecting in terms of launch prices?
The launch prices for AMO Residence are expected to be between $2,000 psf and $2,100 per square foot. This is based on its current land rate which stands at $,1118psf/ppr.
By contrast, the GLS sites that closed their tenders recently, Lentor Central & Hills Road (parcel A) were sold at $1,204 psf ppr and $1,060 psf ppr respectively. These two sites are located close to Lentor MRT station, one stop away from Mayflower Station. Prices for AMO Residence should thus likely be relatively competitive with other listings in the area!
The competition for land in this area is likely to increase, which means that prices may go up. But three more GLS sites were recently released and they provide even better options if you’re willing to wait a little longer!
For a comparable D20 new launch project, let’s take a look at Jadescape at Bishan.
It was launched back in 2018 and had average prices of around $1,700 psf at the time it opened for purchase. Looking at just this year’s sale transactions alone though, we are coming up with an average of around $1,850 psf. This is still slightly lower than the projected amount for AMO Residence.
Jadescape’s not looking too bad. It also faces a landed housing enclave, is within walking distance to two MRT stations on different lines, and has an excellent hawker center nearby! But AMO Residence is an excellent choice for those who want to live in close proximity to more primary schools and green surroundings.
Let’s take a look at the table below to look at the average prices. :
| Tenure | Top | No. Of Units | Average Prices (PSF) | |
| Bishan Park Condominium | 99-Year | 1994 | 320 | $1,109 |
| The Gardens at Bishan | 99-Year | 2004 | 756 | $1,340 |
| Thomson Grand | 99-Year | 2015 | 339 | $1,515 |
| Adana @ Thomson | Freehold | 2018 | 74 | $1,845 |
As you can see, the properties above all fall under the $2,000 psf mark, even for the newer freehold Adana@Thomson. In general, newly launched condos are priced higher than older resale condos. The question is whether this price point can be justified given what you get for your money!
Rentability
For those who are looking at this project as a rental opportunity, this is an excellent choice for families who are looking to send their kids to nearby schools. The beautiful and tranquil Ang Mo Kio neighborhood is not your typical ex-pat town, but it can be an option for professionals who work in this area or nearby nodes. These are such as Woodlands (15-min drive), Seletar Aerospace Park (13-min drive), Paya Lebar Quarter (19-min drive), and the future Punggol Digital District (18-min drive).
Based on recent rental contract transactions for condos nearby, here are some numbers you can take reference from. :
| Space | Rent | |
| Adana @ Thomson | 2-Bedroom (500-600sqft) | $2,500 |
| Thomson Grand | 2-Bedroom (1,000-1,100sqft) 3-Bedroom (1,300-1,400sqft) | $2,800 $3,800 |
| Bishan Park Condominium | 3-Bedroom (1,300-1,400sqft) | $2,900-$3,300 |
| The Gardens @ Bishan | 2-Bedroom (800-900sqft) 3-Bedroom (1,200-1,300sqft) | $2,900-$3,600 $3,000-$3,300 |
If you’re interested, do check out this video to find out more about AMO residence and this video to find out more about the site plan and floor plan analysis!
We hope this article has helped you understand the AMO Residence price point better! The price of properties surrounding AMO Residence and its established location, make this a great place to consider. Don’t forget to check out the other articles we have written on AMO Residence too!