With the Additional Buyer’s Stamp Duty (ABSD) hike in April 2023, dual-key units may become more attractive again.
Dual-key units comprise a larger main unit and a smaller studio. But they’re legally considered one unit as the main unit and the studio share a foyer and the same address.
Such units may appeal to some buyers because they can “get one more unit” without incurring ABSD (that is, if you don’t have any other residential homes here).
For example, if you’ve always wanted to be a landlord, you can buy a dual-key unit, live in the main unit and rent out the smaller studio. So you won’t have to buy a separate unit for rental income.
(We explain more about the pros and cons of dual-key units here.)
Now, we know that there are two-bedroom dual-key units. But they may be too small since there’s only one bedroom in the main unit, with the other one located in the studio.
So in this article, 99.co compiles a list of resale condos with bigger options besides two-bedder dual-key units, such as 3-bedroom dual-key units.
If you’re looking for a dual-key unit, you can search on 99.co with the keyword to filter the listings.
| Condo name | TOP | Dual-key unit types | No. of units | Size (sqft) |
| Urban Vista | 2016 | 2-bedroom | 56 | 678 – 1,249 |
| 3-bedroom | 60 | 893 – 1,453 | ||
| 4-bedroom | 22 | 1,098 – 1,227 | ||
| 5-bedroom | 1 | 1,862 | ||
| North Park Residences | 2020 | 2-bedroom | 70 | 624 – 786 |
| 3-bedroom | 270 | 969 – 1,130 | ||
| Highline Residences | 2018 | 3-bedroom | 32 | 1,130 |
| 4-bedroom | 16 | 1,227 | ||
| Jade Residences | 2017 | 3-bedroom | 13 | 861 – 914 |
| 4-bedroom | 29 | 1,119 – 1,270 | ||
| Twin Waterfalls | 2015 | 3-bedroom | 53 | 1,119 |
| 4-bedroom | 11 | 1,378 | ||
| Whistler Grand | 2022 | 3-bedroom | 60 | 990 – 1,098 |
| 4-bedroom | 52 | 1,270 – 1,378 | ||
| The Crest | 2018 | 3-bedroom | 19 | 1,227 |
| 4-bedroom | 24 | 1,491 | ||
| Gem Residences | 2020 | 2-bedroom | 31 | 775 |
| 3-bedroom | 37 | 980 | ||
| Arc At Tampines | 2014 | 3-bedroom | 48 | 1,227 – 1,539 |
| 4-bedroom | 16 | 1,496 – 1,830 | ||
| Bartley Ridge | 2016 | 3-bedroom | 3 | 2,120 |
| 4-bedroom | 48 | 1,550 – 1,658 | ||
| My Manhattan | 2014 | 3-bedroom | 11 | 1,302 – 1,593 |
| 4-bedroom | 7 | 1,604 – 1,805 | ||
| Kensington Square | 2017 | 2-bedroom | 20 | 732 – 1,033 |
| 3-bedroom | 15 | 797 – 1,195 | ||
| Arena Residences | 2023 | 3-bedroom | 18 | 883 – 1,324 |
| Kingsford Waterbay | 2018 | 3-bedroom | 25 | 958 – 980 |
| Coco Palms | 2019 | 3-bedroom | 29 | 1,152 – 1,561 |
| 4-bedroom | 24 | 1,464 – 1,475 | ||
| 5-bedroom | 1 | 2,637 | ||
| 1 Canberra | 2015 | 3-bedroom | 59 | 1,249 – 1,572 |
| 4-bedroom | 40 | 1,442 – 2,540 | ||
| 5-bedroom | 3 | 2,713 | ||
| The Rainforest | 2015 | 3-bedroom | 20 | 1,249 – 1,550 |
| 4-bedroom | 4 | 2,174 | ||
| Bartley Residences | 2015 | 4-bedroom | 28 | 1,602 – 2,247 |
| La Fiesta | 2016 | 3-bedroom | 30 | 1,033 – 1,335 |
| 4-bedroom | 75 | 1,345 – 1,765 | ||
| Vue 8 Residence | 2017 | 4-bedroom | 13 | 1,615 – 1,690 |
| The Interlace | 2015 | 4-bedroom | 12 | 2,067 – 4,037 |
| Marina Collection | 2011 | 5-bedroom | 8 | 2,788 |
Which condos with dual-key units have the highest capital appreciation?
When we looked at the general price changes of these condos since they entered the market, we noticed that ECs have seen the highest price increases of at least 60%.
These include Twin Waterfalls (64.72%), Arc At Tampines (63%), 1 Canberra (61.28%) and The Rainforest (68.30%). This is also because ECs had lower price points, given that they’re initially subsidised. For instance, the price psf averaged from S$700 for 1 Canberra to S$746 for The Rainforest.
Among these four condos, Arc At Tampines was the first to be completed in 2014, meaning it will soon be privatised. From next year onwards, it will have a bigger buyer pool since units here can also be sold to foreigners. Meanwhile, the other three ECs were completed in 2015, so they’re also reaching privatisation soon.
This also explains the high capital appreciation within the last decade. As of this year, the average price psf for these ECs ranged from S$1,129 psf for 1 Canberra to S$1,255 for The Rainforest.
Other than ECs, among the condos with dual-key units, a few condos stood out to us due to their high price increases: Bartley Ridge (33.41%), Whistler Grand (35.1%), Gem Residences (30.67%), Coco Palms (41.44%) and The Interlace (39.38%).
If we look closer at the graph, the price increases for these condos were mainly driven by the property boom in the last couple of years. This is especially for The Interlace and Bartley Ridge, which TOPed in 2015 and 2018 respectively, saw prices drop for a few years before increasing again in the last few years.
What’s even more intriguing is that the average prices psf of The Interlace and Coco Palms have been in the similar range since 2016, despite The Interlace being located in Bukit Merah and Coco Palms in Pasir Ris.
In 2016, the average price psf of The Interlace hit a low at S$1,064, while the average price psf at Coco Palms was at S$1,055. As of this year, the price psf of The Interlace is S$1,434, slightly lower than that of Coco Palms at S$1,449.
There are various reasons why one condo has a higher capital appreciation than another, such as location, unit types and price points.
In the case of The Interlace, one possible reason is the wide variation in the floor area of its units. For instance, a 3-bedder there ranges from 1,259 sqft to a whopping 5,918 sqft, leading to a lower price psf for the bigger units.
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How about the rental price trends?
Among these condos, the ones with the highest increases in rents are Vue 8 Residences (75.70%), La Fiesta (69.42%), North Park Residences (67.77%), Coco Palms (67.69%) and Kensington Square (61.96%).
As we can see from the graph, the price increases are the steepest in the last two years during a robust rental market.
But as compared to the other condos listed above, a major factor that could have supported the high rent increases for these five condos is their proximity to an MRT station.
For instance, La Fiesta and Coco Palms are both within a 10-minute walk (according to Google) of an MRT station.
North Park Residences is located even closer to the MRT, as it is integrated with Northpoint and Yishun MRT. It is also a 10-minute walk to Khoo Teck Puat Hospital, which provides some rental demand in the area.
Meanwhile, Kensington Square is located a 12-minute walk from Bartley MRT.
An exception is Vue 8 Residence, which will only have an MRT within walking distance from 2032 onwards with the opening of Elias MRT on the Cross Island Line. But its location next to Overseas Family School may be the main reason supporting the rents there.
Planning to sell your house? Let us help you get the right price by connecting you with a premier property agent.
If you found this article helpful, 99.co recommends New launch condos near popular primary schools TOP-ing in 2024-2025 and How does the ABSD affect home purchases by SC/PR or SC/Foreigner buyers?
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