Review: Irwell Hill Residences
Updated: Mar 20
This Review is a Work-in-Progress, we will make update it when more information is being made available for the public.
Irwell Hill Residences is the latest entry into the line of District 9 luxury condos, situated along Irwell Bank Road. How will this condo fair against numerous strong competition?
District 9 Performance
District 9 condos are tightly clustered within the same region, and therefore to be able to spot good purchases, it is paramount to choose a property that is located close to amenities and other conveniences. That being said, the tight competition for rentals also means that as an investor, you will need to find a purchase that is priced correctly.
Sales performance for District 9 has been waning as in recent years due to the increasing attractiveness of Rest of Core Region (RCR) Singapore where the prices are more palatable. Some notable entrants include The M (D7) and The Linq @ Beauty World (D21).
Still, there are good purchases within the area. Below are some reasons why Irwell Hill Residences is one.
Estimated Launch Price
The Avenir is a D9 condo that was launched in 2020, and it is situated within River Valley Close. AS OF 7 January 2021, its current price is at $3,150 psf. With a breakeven cost of $2,463 psf, the developer is estimated to net around 30% of profits from this project.
Highly unusual however, CDL will be launching at prices around $25xx-$27xx PSF. This is to make prices competitive to The Avenir. However, prices are slightly more attractive as it is located along the border of District 10.
The low entry price should attract investors for 1-Bedroom units, which will cost slightly above a million.
UPDATE 20 March 2021: The guide prices for Irwell Hill Residences in out! These are prices after the early bird discounts!!
Studio (398sf) from $99xK
1br+S (452 - 506sf) from $1.1x mil
2br Classic (603-624sf) from $1.4x mil
2br Premium (657-678sf) from $1.6x mil
3br Classic (861sf) from $2.1x mil
3br Premium (1270sf) from $3.1x mil
4br Premium (1539-1582sf) from $4.0x mil
Location To Amenities
Irwell Hill Residences is located close to Great World (350m). It takes about a 5 minutes walk to the shopping mall, making short trips to supermarkets like Meidi-ya convenient.
Prior to renovations during 2019-2020, Great World City, as it was previously called, was a quiet mall tucked away along side 1 Kim Seng Promenade. The renovations have brought in more tenants/businesses which have rejuvenated the mall, and now experiences increased footfall.
In addition, Great World MRT Station (TE15) is slated to be completed by early 2022. This adds to the convenience of the location for residents nearby.
Close to the border of D10
District 10 Tanglin/Holland usually trend closely to D9 condominium prices but with an added advantage. D10 condos have better resiliency and this results in better growth over time. D10 properties are more often occupied by the owners and are less speculative as compared to D9 properties.
Being situated close to D10, Irwell Hill Residences benefits from strong price growth and privacy, while still having many conveniences from the nearby Orchard Road shopping belt and Great World.
With the release of new pricing information between $25XX-$27XX psf, this competitive advantage provides for a better capital gains run.
Estimated TOP date
With an estimated Temporary Occupation Permit Date by the Urban Redevelopment Authority of 2026, we can forecast at the moment that the new launch supply will be lower. This lower supply means that we can anticipate good demand for Irwell Hill Residences upon its completion.