Investing in a condo in Singapore offers a multitude of benefits, making it a highly attractive choice for investors. One major advantage is the high demand for condos in this thriving city-state, as they are considered a preferred choice for residential properties. Additionally, there is potential for significant capital appreciation, and the rental yields are also appealing.
Nevertheless, it is crucial for investors to carefully consider various factors before making a decision. These include the location of the condo, available financing options, government regulations, and the current state of the market. By conducting thorough research and seeking professional advice, investors can make informed and strategic decisions to maximize their returns in Singapore’s dynamic real estate market.
Whether you are a local investor looking to diversify your portfolio or a foreign buyer seeking a stable and profitable investment, condos in Singapore present a compelling opportunity. With the right approach and proper planning, investing in a condo in Singapore can be a lucrative venture for those seeking to grow their wealth in the ever-evolving real estate market.
CBRE, the exclusive marketing agent, is offering two prime properties in Singapore’s bustling Central Business District (CBD) for sale. The first is Hotel Clover at 7 Hongkong Street, a boutique hotel with 27 rooms, while the second is a commercial building at 36 Hongkong Street. Both properties boast attractive remaining land tenures and are eligible for purchase by foreigners and companies without incurring Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD).
Hotel Clover, a six-storey hotel sitting on a 1,701 sq ft plot, is zoned “hotel” with a plot ratio of 4.2 under the latest Master Plan. The 99-year leasehold site has a remaining land tenure of approximately 89 years and a total floor area of 7,142 sq ft. With a guide price of $27 million, the price translates to $3,780 psf on the floor area.
On the other hand, the five-storey commercial building at 36 Hongkong Street is zoned “commercial” with a plot ratio of 4.2 under the Master Plan and sits on a 1,733 sq ft plot. The 99-year leasehold site has a remaining land tenure of 93 years and a total floor area of 7,279 sq ft. The guide price for this property is $22.6 million, which translates to $3,105 psf.
According to Clemence Lee, executive director of capital markets at CBRE Singapore, both properties have relatively more attractive remaining land tenures compared to other 99-year leasehold properties in the CBD area. They are also ideal for owner-occupiers looking for a flagship asset with a reasonable quantum and naming rights.
Situated in Clarke Quay, a popular riverfront lifestyle precinct, the properties are surrounded by acclaimed restaurants, bars, boutique hotels, and fitness studios. They are also within close proximity to Clarke Quay MRT Station on the North-East Line. The nearby CQ@Clarke Quay is currently undergoing a $62 million asset enhancement initiative, while the completion of two new large-scale integrated developments, Canninghill Piers and Union Square, is expected to further enhance the vibrancy of the area.
Lee believes that both 7 and 36 Hongkong Street have strong potential for future rental upsides and capital appreciation in the medium to long term. Interested buyers can participate in an expression of interest exercise that will close on March 26. For more information, check out CBRE’s website and compare prices of commercial and industrial properties or view past rental transactions.