TEL Stage 4 opens: Divergent sales momentum among new freehold projects near Haig Road

Seven MRT stations along Stage 4 of the Thomson-East Coast Line (TEL4) officially opened on Sunday (23 June). The newly operational stations include Tanjong Katong MRT station and Marine Parade MRT station around the Haig Road area in Joo Chiat, which is expected to bolster demand for private residential properties in the neighbourhood.

However, sales performance among new freehold developments in the precinct has been divergent, with some projects performing exceptionally well while others have seen relatively sluggish momentum.

For instance, Ardor Residence, which launched in March this year and is slated to obtain its Temporary Occupation Permit (TOP) in October 2026, has only sold one unit to date.

Located along Haig Road, Ardor Residence is a boutique freehold development by Nanshan Group comprising 35 units. According to data from the Urban Redevelopment Authority (URA) website, the sole transacted unit spans around 800 sq ft and fetched a price of $2,465 psf.

The subdued take-up at Ardor Residence stands in stark contrast to The Continuum, which was launched in May 2023 by Hoi Hup Realty and Sunway Developments.

As a rare large-scale freehold development in the East Coast with over 800 units in recent years, The Continuum drew robust interest right from its debut and previously ranked among the top five best-selling private residential developments in monthly charts. Since its launch, the project has sold 351 units—accounting for 43% of total units—with prices ranging from $2,573 to $3,023 psf. Year-to-date, 47 units have been moved.

Interestingly, just shortly before The Continuum’s launch, Tembusu Grand—situated a mere 800 metres away—also opened for sales, offering buyers an alternative option and creating market competition. This coincided with the implementation of a fresh round of property cooling measures. Analysts noted at the time that The Continuum’s sales performance met expectations and remained resilient.

One-bedroom units at Waterbank at Dakota most popular among tenants

Situated between Ardor Residence and The Continuum is Dunman View, a 99-year leasehold development completed in 2004 featuring 148 units. Four units in the project have changed hands this year, all transacting at around $1.8 million.

The development also recorded eight rental contracts this year, comprising six three-bedroom units and two two-bedroom units, with monthly rents reaching up to $5,000.

Heading west along Dunman Road, two adjacent 99-year leasehold developments sit along the banks of the Geylang River: Waterbank at Dakota and Dakota Residences.

Developed by UOL Group, Waterbank at Dakota was completed over a decade ago and comprises 616 units. Year-to-date, the development has seen nine resale transactions with prices between $1,746 and $2,290 psf. A total of 51 leasing transactions were logged, with one-bedroom units being the most sought-after, making up nearly half of the total. Monthly rents for one-bedders ranged from a high of $6,000 to a low of $2,700. Among all 51 rental contracts, the highest rent clocked was $8,800 per month for a four-bedroom unit spanning 1,500 to 1,600 sq ft.

Dakota Residences comprises 348 units and has recorded five resale transactions this year, with transacted prices slightly lower than Waterbank at Dakota, ranging from $1,621 to $1,847 psf. The smallest configurations at Dakota Residences are two-bedroom units measuring between 1,000 and 1,100 sq ft. Given their larger floor plates, monthly rents are naturally slightly higher than those at Waterbank at Dakota, starting from $4,350, with 25 rental contracts signed this year.

As Singapore's first designated Heritage Town, Joo Chiat is rich in historical and cultural charm. Living here offers residents not only the vibrant Peranakan heritage and colourful conserved shophouses, but also an array of culinary options ranging from traditional Nanyang eateries and artisanal cafés to trendy contemporary bars.

The Haig Road enclave in Joo Chiat is also a prime location favoured by homebuyers, with nearby reputable schools such as Tanjong Katong Primary School and Kong Hwa School. In terms of accessibility, with TEL4 now open, residents will enjoy shorter commutes, which is expected to provide a welcome boost to private home demand in the area.