Wallich Residence | 华利世家 | Market On the Move

15 Apr 2020: Wallich Residence sold around 50% of total units and 1-bedroom sold out. The balance units includes 2- to 4-bedoom units and the last penthouse unit.

13 Jan 2020: Wallich Residence sold #48-06, #57-02, #61-01.

11 Jan 2020: Wallich Residence sold #49-09.

Wallich Residence | 华利世家 |The Tallest Condo Above Tanjong Pagar MRT Station

Wallich Residence is a super high-rise luxury condominium in the heart of Tanjong Pagar, an unique integrated development in Singapore’s Central Business District. Wallich Residence atop Guoco Tower stands from 180 m to 290 m to make its residents to enjoy a privileged and exclusive view of the city skyline.

With seamless connectivity between Guoco Tower and Tanjong Pagar MRT Station, Wallich Residence offers the first vertical urban lifestyle as the rare skyscraper luxury condominium. The 181-luxury condo is nicely integrated with Guoco Tower of 890,000 sqft GFA Grade A office, five-star Sofitel Hotel of 223 rooms,100,000 sqft of retail podium and 150,000 sqft of urban park. The concept of “Live-Work-Leisure” in Singapore’s bustling downtown area is perfectly illustrated by Wallich Residence.

Wallich Residence is situated on the space from 39th to 64th floor of the Guoco Tower. It comprises of 181 exclusive apartments, including 1-bedroom to 4-bedroom units, four penthouse units and one super penthouse unit. Residents can enjoy an infinity pool on the 39th floor, a private library on the 52nd floor, and a glass cantilevered viewing deck on the 62nd floor for spectacular sea and city views. There are many other facilities such as gazebo, Jacuzzi, bar and entertainment hall. With extraordinary design, perfect details, and four exclusive amenity levels, Wallich Residence defines a new level of luxury living with its unusual and exclusive property amenities and Guoco’s professional concierge service.

On the top floor of Tanjong Pagar Centre, beneath the sky, above the city, Wallich Residence is redefining the high-end lifestyle in Singapore. Tanjong Pagar Centre is a prime location that seamlessly connects the CBD to the Marina Day district and has become a new one-stop centre for Singapore residents to work, play and live. Wallich Residence is proud to be the pinnacle of luxury residences in the New Calgary metropolis with a timing beyond imagination.

Wallich Residence | 华利世家 | Location and Amenities

Wallich Residence occupies the highest floors of Guoco Tower, an ambitious vertical city that comprises a dynamic mix of commercial, residential, retail, hotel and urban park components. Rising directly above Tanjong Pagar MRT station, this new global icon is set to position Tanjong Pagar as the premier business and lifestyle district in the CBD.

Tanjong Pagar is leading the transformation of one of the most exciting government land redevelopment projects in Singapore to date, which will see a seamless extension of the existing CBD to form a new waterfront city. At its prime location in the district, Guoco Tower is poised to become the gateway to this waterfront city and the exhilarating new live-work-play opportunities to come.

Tanjong Pagar MRT station is located below the Wallich Residence, and residents can take one stop to reach Raffles Place financial district and the MRT interchange to turn to the Orchard Road shopping street or Marina Bay, and two stops to the City Hall and Civic District. Future residents can take 1 stop to the west to Outram Park MRT Interchange, from where you can get access to Chinatown or Harbourfront and Sentosa.

Living at Wallich Residence, you can enjoy the convenience and prosperity of the Central Business District or the warmth of the Tanjong Pagar community. The surrounding Chinatown has a wide range of historical and cultural attractions, while Ann Siang Hill, Club Street, Tras Street and Duxton Hill are just a short distance away, bringing together a variety of stylish dining and entertainment venues.

Just few minutes’ walk, Wallich Residence is close to Shenton Way which is known as “Wall Street of Singapore”. The financial street is located in the heart of the Central Business District and is home to the Monetary Authority of Singapore, the Singapore Stock Exchange, major banks and multinational financial institutions.  Wallich Residence is quite close to Singapore’s famous landmarks – Marina Bay Financial Centre, Marina Bay Sands Hotel and Shopping Centre, Other famous shopping malls located in or near the central business district, such as Marina Square, Suntec City, Raffles City, Marina Bay Link Mall, Marina One, Marina Bay Sands, etc.

Public bus service is also quite convenient. Regarding Wallich Residence, there are four bus stops within 300 meters, six bus stops within 300 to 500 meters, which run to reach all over the island. Besides the Tanjong Pagar MRT, There are  also Downtown MRT Station and the upcoming Shenton Way MRT Station nearby. The skyscraper condo is conveniently located near CTE, AYE Expressway, East Coast Parkway (ECP) and Marina Expressway (MCE), which provide quick access to the entire island of Singapore.

For international residents, there are a number of  international schools or training centres in the CBD area around Wallich Residence. for further study and education. The nearest government schools are Cantonment Primary School, Outram Secondary School and Singapore Management University.

For those in need of quality medical care, Wallich Residence is close to the Singapore General Hospital (SGH), the most renowned public hospital in the region, and major national medical research institutions, as well as the Raffles Hospital in Bugis. If there is no emergency, the many private clinics located in the Central Business District and Chinatown-Outram Park  area can also meet the daily needs of the residents.

If Wallich residents need outdoor recreation, go out to the famous Gardens by the Bay nearby, residents can enjoy strolling on the beach with family and friends, sailing and surfing the sea at the Sentosa Island and the East Coast Park in the vicinity.  For a taste of the greenery of the rainforest and the surrounding lake, residents can drive to the Singapore Botanical Gardens, a World UNESCO Heritage Site. Further down the road, there are the MacRitchie Reservoir, Bukit Timah Hill and the upcoming Mandai Park Development.

For residents interested in music and the arts, Wallace Residence is across the road to Singapore Conference Hall and Singapore Chinese Cultural Centre. The condo is also close to Singapore’s Civic District and Marina Bay, where the Esplanade Arts Centre, National Gallery of Art, Victoria Theatre and Music Hall, Asian Civilization Museum, Museum of Arts and Sciences and Marina Bay Sands Hotel are lined up for year-round exhibitions and performances that will continue to bring you amazing artistic enjoyment. Of course, the Singapore Sports Centre near Marina Bay East offers a wide range of sporting events and celebrity entertainment. 

Wallich Residence | 华利世家 | Site Plan and Facilities

As the tallest condo in Singapore, Wallich Residence is located in the higher floors of Guoco Towers, standing from 180 to 290 meters above the sea level. The next door building is Sofitel Hotel Singapore, some French flair, 5-star hospitality and luxurious amenities. There are only 181 exclusive apartments atop the exceptional vertical city directly access to Tanjong Pagar MRT Station.

With four levels of amenities, from the hotel-inspired Wallich Concierge Service and the stunning infinity pool at level 39, to the private library on level 52 and breathtaking observation platforms on level 62, Wallich Residence is a tower that stands apart. Not just by its sheer height, but also by the quality of the life one experiences here.

Apex- Sky Views

Soaring approximately 270m above sea level, Apex is the sky observatory that crowns Guoco Tower. Enjoy panoramic views from the Airdeck, stunning cantilevered glass viewing platforms that offer an unrivalled perspective of the city.

Cloud 220- Up on Cloud 220

Commemorate life’s most memorable moments with the city skyline as your backdrop. Enjoy an intimate dining experience at The Wallich Room, crafted by your private chef. Host private screenings at the theatres. Wind down with drinks amid the lush greenery of the sky gardens.

Social 180 – Get Social

Relax and recharge amid a sanctuary of landscaped gardens, a Jacuzzi and entertainment rooms. Work out in the gym, gather with friends over a BBQ, or take a dip in our stunning infinity pool, 180m above sea level with breathtaking views of the sea and beyond.

Wallich Concierge Service – Luxury becomes personal

Standard services include booking of residence amenities and facilities, grocery and luggage handling, and laundry services. Other assistance may be extended on request.

 Wallich Residence | 华利世家 | Unit Mix and Floor Plans

At 180 meters above sea level, as the tallest residential condo in Singapore, Wallich Residence sites from the 39th to 64th floors atop the Guoco Tower. It offers only 181 luxury private units, including one to four bedroom units, four penthouses and one super penthouse unit. One bedroom area is about 614 to 645 sqft; two bedroom area is about 861 to 1098 sqft;  Three bedroom area is about 1098 to 1787 sqft; Four bedroom area is about 1658 to 1765 sqft; 4 sets of 4-bedroom penthouse area is about 3509 sqft. With the extraordinary design, perfect details, and four exclusive amenity levels, Wallich Residence takes the luxury living to new heights.

• Wallich Residence 4-Bedrooom Interior ID 1
  

• Wallich Residence 4-Bedrooom Interior ID 2

1-Bedroom Floor Plans | 1卧室单位户型

2-Bedroom Floor Plans | 2卧室单位户型

3-Bedroom Floor Plans  | 3卧室单位户型

4-Bedroom Floor Plans |4卧室单位户型

4-Bedroom Penthouse Floor Plans | 4卧室顶层单位户型-Penthouse

Wallich Residence | 华利世家 | CBD Residential Market

Wallich Residence (华利世家)  is in the coveted CBD enclave in Downtown Core of of Core Centre Region (CCR). CCR region is down the ages famous for its many clusters of upscale private condominiums and apartments. The CCR residential market is also the most luxurious house segment where many properties sell at the most premium prices, for example, easily across $3,000psf.

Singapore private home market has entered the new uptrend cycle after the soar of land bid from both Collective Sales from developers and Government Land Sales (GLS) Programme during the period from 2016 to 2018. According to the URA reported in January 2020, Singapore private home prices rose 2.7% in 2019, as compared with the 7.9% increase in 2018. In 2019, new private residential property sales by developers increased 12.7 per cent to 9,912 units too.

There is a genuine, underlying demand for the private home. The increase in new sales transactions and growth in overall prices indicate the resilience of private residential property.  In 2020, Market watchers expect the market trends to be similar to 2019, given that market fundamentals remain unchanged: interest rates are expected to remain low, while the economy is expected to improve slightly in 2020.

For CCR housing market, the overall price index decrease 1.7%, as compared to the increase of 6.7% in 2018, while the prices in City Fringe and mass market increased by 2.8% and 4.2% respectively. According to the URA media release, the transaction volume and price index are still in line with the historical trend, which demonstrates the sustainability of high-end residential market. 2019 observed a series of new high prices in many hallmark areas, such as Holland Village, Newton Circus, River Valley, Outram Park, East Coast and so on. In 2020, it’s expected that around 4,000 new non-landed residential units 23 projects could be launched in 2020 in the CCR region, while 6,000 units across 22 projects are expected to be launched in city-fringe region.

The new cycle of En Bloc sales fever has taken place in the residential market since 2016, given that the numbers of unsold developer projects hit the historical low and increasingly fierce competition in GLS Programme.

The land costs for private condominium projects have island-wide increased varying from 15% to 20% in different regions in 2018, not mentioned the benchmark land cost in 2016. In CCR market, the average land cost was over $1,800psf in 2018, which transferred the average new development launch price in 2019 to jump up to among $2,800 to 3,500psf.  During last year, it has been transacted over $4,000psf in the most prestigious Nassim Road, Orchard Boulevard, Ardmore Park, and Marina Bay area.

The high-end residential market has turned up following the rise of higher land cost since 2017. New sales price tag replace the old one that more new condo projects in city area have been sold at higher prices. High-end housing market have running into a new uptrend cycle that sales price across $3,000 psf is not a miracle any more. let’s review the recent record transactions in prime residential market.

1) In city-fringe, freehold Sky Everton in Outram Park sold over $2550 psf at average, a $2,895psf price was transacted for a high floor 2-bedroom unit. For 99-year leasehold project One Pearl Bank in Outram Park, there are around 50 units sold over $2,500 psf. The highest transacted price is $2,875 for some 36^th floor 3 bedroom units.

2) In the East Coast area, prime District 15, freehold project in Amber Road – Coastline Residences sold some 2 bedroom unit at $3,010 psf, together with other 5 unit sold over $2,800 psf in 2019. Even in the mass market, the integrated residential development next to Bangkok MRT Station – Sengkang Grand Residences have sold over 45 unit at above $1,800 psf, the highest transaction price was $1,898 psf. This is absolutely incredible.

3) In the Orchard upscale area, like Orchard Boulevard, ultra-luxury new residential development, Boulevard 88 have witnessed its 4 penthouse units transacted around $4,899～$5,125 psf in 2019. Another neighbor luxury development – 3 Orchard By The Park sold its 2 penthouse units around $4,638 to $4,805 psf in 2019. Across the road, TwentyOne Angullia Park sold its last 7,718sqft penthouse unit at $4,146 psf in 2019.

4) In Dhoby Ghaut area, 99-year leasehold new condo Haus On Handy sold new record price for its 969 sqft unit at $2,913psf in 2019. Other 30 units from the new launch was sold over $2,830 psf in 2019. It’s not believable that one year ago, the latest completion 99-year leasehold development in the close vicinity – Sophia Hills was sold only averagely at $1,900 to 2,200psf.

5) In Jiat Kim Street area, the fringe of River Valley enclave, luxury new condo – Riviere was transacted at average price of $2886psf in 2019, with 7 units was sold over $3000psf. The highest price was done at $3,305psf by some 1-bedroom unit at 36^th floor in June 2019, following the 2^nd highest price at $3,247psf was transacted for some 4-bedroomwith unit at 35^th floor with size of 2002sqft.

6) In the charming Holland Village area, the blockbuster new launch – the mixed development – One Holland Village Residences set up the historical high transaction prices since Nov 2019. Over 120 units was sold at between $2,600 to $3,300psf since then. The highest price was transacted for some high-floor duplex 4 bedroom at eye-catching $3,363psf.  Another bouquet freehold new launch -Van Holland which is opposite to Holland Village sold over 10 units in Jan 2020 with average prices at $2,950psf. Following this trend, another mega freehold new condo-Leedon Green in Leedon Heights launched in Jan 2020 and sold over 30 units with average transaction prices at between $2,600 to $2,900psf.

7) In the core River Valley enclave, 99-year leasehold luxury “Botanic Garden” new condo Martin Modern were recently sold at $2,684psf on average,with the highest of $3,254psf done for a 1,798sqft 4-bedroom flat at 30^th floor. Freehold 8 Saint Thomas was launched in second half of 2018, averagely transacted at $3,154psf, with recent highest price of $3,716psf done for a 2422sqft at 35^th-floor apartment in Jan 2020. Just after New Year, the newly launched freehold condominium The Avenir, which is next to River Valley Primary School was transacted at the average price of $3223psf. The highest price recorded in January was $3,564psf, a 527-sqft 1-bedroom on 36^th floor. The most popular apartments are the type of 4-bedroom + private lift (2,067 to 2411sqft) , which were sold over 10 units to the local residents and foreigners.

8) In Tanjong Pager, CBD area, Skyscraper luxury newly-completed condo – Wallich Residence sold its 2 junior penthouse units (59^th, 60^th floor, 3509sqft) between $4702 to $4987psf in 2019. In the rising star CBD area, along west side of Beach Road, South Beach Residences sold 2 penthouse units (42^th floor- 6,728sqft, 45^th floor- 4,424sqft) between $3,865 to $3,888psf during the period  of 2018 to 2019.

By reviewing those recent record-breaking transactions done in the residential market, it’s quite new normal for the high-end luxury new condo to be transacted across $3,000 ~ $3,500psf. What if it is a brand-new, large land development with full condo facilities in the the heart of Marina Bay?

When the vibrant Marina Bay and traditional CBD area are concerned, it’s the economic and culture centre of Singapore, within the Downtown Core area. For years, Singapore Government has advocated the rejuvenation of Downtown Core into more exciting mixed-use district so that the city centre will not only be a place to work, but also a vibrant place to live and play in.

A great example is the transformation of Marina Bay. Marina Bay area which has since been redeveloped with excellent infrastructure and world-class cultural and entertainment facilities for quality working and living environments. Besides the dominating business and financial district, Marina Bay also clusters a suites of luxury condominium developments such as The Sail, Marina Bay Residences, Marina Bay Suites, and the latest Marina One Residences.

Under the URA Master Plan 2019, Downtown Core will be transformed into more residential developments besides the offices, hotels and entertainment facilities. The reclaimed lands in Marina Centre and Marina South are arranged with white use to allow for greater planning flexibility and to encourage a mix of complementary uses – commercial, residential, hotel and entertainment.

For example, the large empty lands in the southeast of Garden By The Bay will be developed into mixed-used developments with residential apartments on the second floor onwards. Just imagine the convenience of iconic condo living after completion of Marina South and Garden By The Bay MRT Stations on the Thomson-East Coast Line.

Tanjong Pager Centre is another successful story of CBD rejuvenation. Above the Tanjong Pager MRT Station and opposite to International Plaza, Tanjong Pager Centre has set up the tallest vertical city complex with a dynamic mix of commercial, residential, retail, hotel and urban park components. The skyscraper luxury Wallich Residence is the hallmark of sky condominium for the few privilege.

To extend more CBD activities out of traditional boundary, the government has implemented the transformation of Beach Road east to Bugis area. During the past years, a series of blockbuster integrated projects such as South Beach, Guoco Midtown, DUO have been developed along the Beach Road.

Integrated with those mega projects are the luxury condominium developments: South Beach Residences, Midtown Bay, Duo Residences, respectively. Nowadays Beach Road has been transferred into a vibrant dynamitic new Downtown Core area and upscale residential enclave, following the transformation of Marina Bay. Here we collect the recent major mega new residential developments in downtown core area.

1). Tanjong Pagar Centre: Developed by GuocoLand, Tanjong Pagar Centre is an iconic large integrated development above the Tanjong Pagar MRT Station, with Grade-A office,  branded hotel, retail space, urban park and luxury apartment under one big roof. The breath-taking apartment Wallich Residence (华利世家) sites on the 39^th to 64^th floor of the skyscraper. There are 181 premium dwelling units including 1- to 4-bedroom and penthouses. The recent average transaction price is $3,498 psf, and the highest price is transacted at $4,7987psf for a 3509sqft unit in Jan 2020.

2). Marina One Residences: it’s is an extraordinary hallmark condominium nestled in the mega project Marina One in the heart of Marina Bay behind two state governments. It gets excellent connection access to 3 MRT Stations on 4 MRT Lines. There are two exceptional residential blocks – Park Tower and Garden Tower, providing 1042 upscale dwelling units covering 1-bedroom to 4-bedroom and penthouse units. Park Tower apartments have been almost sold out since its launch in 2014. Since the launch of Garden Tower in 2018, over 65% of the units has been sold too. The recent developer sale price are around $2,450psf with highest price at $3285psf for a 2250sqft unit in Sept 2019.

3). V on Shenton (珊顿·云尚): sited on the “Singapore Wall Street” -Shenton Way, V on Shenton is a mixed projects including high-rise office up to 23th storey and residential apartment up to 56^th storey. The skyscraper V on Shenton comprises of 510 dwelling units from 2 bedroom to 3 bedroom and penthouse units. Completed in 2017, V on Shenton was sold at average prices of  $2,301psf, with the highest price transacted at $3,225psf for a 452-sqft unit.

4). Eden Residences Capitol: Eden Residences Capitol is the residential component of integrated development with Capitol Building, Capitol Theatre, Capitol Hotel and residence in Stamford Road. Next to City Hall MRT Station, Eden Residences Capitol provides 39 luxury large-size residential units. Apartment were sold from $6.5mil to $20 mil with average prices from $3,000 to $3,200psf.

5). Guoco Midtown (国浩时代城) and Midtown Bay (滨海名汇公寓): Guoco Midtown is mega integrated development by GuocoLand Singapore in Beach Road.  With around investment capital of $2.4 billion, Guoco Midtown consists of Grade-A office, conservation house, retail and entertainment space, luxury apartment – Midtown Bay. Midtown Bay stand in 333 storey building with total 219 units including 1- to 2-bedroom and limited 3-bedroom apartments.  Estimated to be completed in 2022, Midtown Bay were transacted arounf $2,908psf, with highest price at $3804psf for a 484sqft unit in Oct 2019.

6). DUO (双景坊) and DUO Residences (双景岭公寓): DUO is the pioneer mega project during the transformation of Beach Road to Ophir-Rocher Corridor. Jointly developed by the state government companies of Singapore Temask Holdings and Malaysia Khazanah Nasional, DUO consist of office tower, retail space, Andaz Singapore hotel and DUO Residences. Directly connected to Bugis MRT Interchange, DUO Residences was launched for sale in 2013 and fully sold so far. There are total 660 units in DUO Residences which stands 49^–storey high, including a suites of studio, 1-bedroom to 4-bedroom, penthouse apartments.  The recent resale price are around $2,212psf with highest price at $2609psf for a 1528sqft unit in Jan 2019.

7) South Beach Residences (风华南岸府): it’s a luxury condominium integrated with mega integrated development of South Beach in Beach Road. Jointly developed by CDL and Malaysia IOI Group, South Beach comprise of Grade-A office, JW Marriot Hotel, retail space and iconic residence South Beach Residences. South Beach Residences offers 191 apartments including 2- to 4-bedroom and penthouses across 23th to 45th storey on the branded hotel. Conveniently accessible to Esplanade and City Hall MRT Stations, South Beach is sought after for its panoramic views of city skyline. Completed in 2017, South Beach Residences was recently transacted on the average $3,346psf, and the highest price was made at $3,950psf for a 2616sqft unit. We just record the recent sales transactions on South Beach Residences. More market update will be presented here along the time.

In the following table, we just summarize the major new launches close to Marina Bay Financial District. You can justify how rationale are the latest launch prices in the vicinity.

We have collected the recent transactions for Wallich Residence, and readers can justify the rationale of the developer selling prices.