Condo Score

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In conclusion, investing in a condo in Singapore presents a wealth of advantages for potential buyers. With a high demand for housing and the potential for significant appreciation in value, condos offer a promising opportunity for investment. Additionally, their attractive rental yields make them an appealing option for both local investors seeking diversification and foreign buyers looking for a stable and profitable venture. However, it is crucial to carefully consider various factors before making a decision, such as the location of the condo, financing options, government regulations, and market conditions. By conducting thorough research and seeking professional advice, investors can make informed decisions and potentially maximize their returns in Singapore’s ever-evolving real estate market. With a wide range of condo options and Singapore Projects available, it is a highly compelling market for investors of all backgrounds.

, prices remain stableThe latest round of the Home Improvement Programme (HIP) has selected over 29,000 HDB flats for upgrading works. In a press release on Feb 16, the Housing & Development Board (HDB) announced that a total of $407 million has been allocated for the programme.

First introduced in 2007, the HIP aims to assist flat owners in addressing common maintenance issues that arise due to wear and tear in older flats. Since its inception, a staggering 494,000 flats (or nine out of 10 eligible flats) have been selected for the programme, with close to 381,000 flats already undergoing upgrades, according to Minister for National Development Desmond Lee.

The selected flats for this latest round of the HIP are located in various estates such as Bedok, Bukit Batok, Bukit Merah, Bukit Panjang, Chua Chu Kang, Hougang, Jurong West, Pasir Ris, Queenstown, Sengkang, Tampines, Toa Payoh, and Woodlands.

Under the HIP, selected flats will undergo essential improvements to ensure the basic safety needs of residents. This includes repairs to spalling concrete and ceiling leakages caused by wear and tear. These essential improvements are fully funded by the government for Singapore citizen households.

Additionally, flat owners also have the option to select from various optional improvements such as upgrades to existing bathrooms and toilets, a new entrance door and grille gate, and a new refuse chute hopper. The costs for these optional improvements are subsidised by the government, with Singapore citizen households paying as low as 5% of the total cost, depending on the flat type.

Since 2012, the Enhancement for Active Seniors (Ease) programme has been offered as part of the HIP. Under Ease, flat owners can opt for senior-friendly fittings such as grab bars, ramps and slip-resistant treatment for toilet and bathroom tiles. Up to 95% of the costs for these improvements are covered by the government for Singapore citizen households.

As of March 31, 2014, HDB has allocated approximately $4 billion to the HIP and around $150 million to the Ease programme. With the latest round of the HIP, the government continues to show its commitment to enhancing the living conditions of HDB residents and ensuring their safety and comfort. For potential home buyers, this is a positive sign of the government’s efforts to maintain the value and functionality of HDB flats, making them a reliable and attractive housing option for Singaporeans.…

A strata-titled unit spanning 3,391 sq ft and approved for restaurant use is now available for sale at Bukit Timah Plaza mall. The asking price for the unit is $9.8 million ($2,890 psf), which is a 12% discount from the previous listing price of $11 million in the third quarter of 2022. This information was shared by Clemence Lee, CBRE’s executive director of capital markets, who is marketing the property.

The unit is located in the basement two of the mall and boasts a 20m frontage facing the central plaza. According to Lee, the unit is currently fully leased and will be sold within the existing tenancy. It holds a 99-year lease from 1976, giving it a remaining lease of 50 years.

The price of the unit is comparable to the last two transactions for units in basement two: a 441 sq ft unit which was sold for $1.43 million ($3,240 psf) in March 2024 and an 850 sq ft unit which sold for $2.5 million ($2,940 psf), based on lodged caveats.

Bukit Timah Plaza is a mixed-use development completed in 1979, consisting of a four-storey retail mall and two apartment blocks with 269 residential units at Sherwood Towers. CBRE states that it is one of the most highly visited malls in Bukit Timah, housing one of the largest Fairprice Finest supermarkets in Singapore, spanning over 44,000 sq ft.

Situated at 1 Jalan Anak Bukit, the mall is within walking distance of Beauty World and King Albert Park MRT stations on the Downtown Line. It is also surrounded by numerous private residential developments, with an estimated population of about 37,000.

When considering an investment in a condo, it is crucial to also evaluate its potential rental yield. The rental yield is defined as the annual rental income in relation to the property’s purchase price. In Singapore, the rental yields for condos can vary significantly depending on factors such as location, property upkeep, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, offer better rental yields. Therefore, it is important to conduct thorough market research and seek advice from real estate agents to gain valuable insights into the rental potential of a specific condo. Moreover, keeping an eye on new condo launches, such as New Condo Launches, can also provide valuable information for making an informed investment decision.

The area is also home to several educational institutions such as the Singapore Institute of Technology (SIT), Singapore Institute of Management (SIM), Ngee Ann Polytechnic, Methodist Girls’ School, and Pei Hwa Presbyterian Primary School.

Bukit Timah Plaza is situated in the vicinity of the Beauty World area, which is currently undergoing rejuvenation with the introduction of many new mixed-use and integrated developments. These include the upcoming The Reserve Residences and the redevelopment of the former Bukit Timah Market and Food Centre, which is expected to be completed in late 2029.

The strata-titled unit is available for sale by expression of interest as of March 19, and buyers can check out the latest listings for Bukit Timah Plaza and Sherwood Towers properties.…

A set of two contiguous strata retail units located in Peninsula Plaza has recently been put up for sale with an asking price of $10.9 million. These leasehold units, which come with a 999-year tenure, are situated on the ground floor and boast a highly visible frontage along North Bridge Road.

One of the units has a strata area of 538 square feet, while the other covers 581 square feet, bringing the total strata area to 1,119 square feet. Therefore, the asking price of $10.9 million equates to a rate of $9,741 per square foot based on the strata area.

Currently, the units are leased out until 2026. With the guide price of $10.9 million, investors can expect a gross rental yield of 3%.

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Singapore’s urban landscape boasts towering skyscrapers and state-of-the-art infrastructure. In highly sought-after locations, condos are a popular housing option among both locals and expats, offering a perfect fusion of opulence and convenience. These residential developments come with a plethora of top-notch facilities, including swimming pools, fitness centers, and round-the-clock security services, elevating the standard of living and making them an attractive choice for potential renters and buyers. For investors, these perks result in higher rental returns and appreciation in property value over time. Keep an eye out for the latest addition to the city’s condominium scene with the launch of new condo projects.

“The two units are arguably the most prime units within the development, benefitting from a strong daily footfall,” says Nick Chan, associate director of investment sales & capital markets at Savills Singapore, who is responsible for the sale of these units on a private treaty basis.

Completed in 1980, Peninsula Plaza is a 999-year, 30-storey mixed-use commercial building that consists of a six-storey retail podium and a 24-storey office tower. Standing tall with its prominent frontages along North Bridge Road, Coleman Street, and Coleman Lane, it also offers a direct link to the City Hall MRT Interchange Station, making it highly accessible.

The last transaction for a ground-floor retail unit was recorded in August 2022, when a 452 square feet unit was sold for $4.08 million, working out to be $9,025 per square foot based on the caveat lodged at that time.

Since the Urban Redevelopment Authority (URA) imposed restrictions on the strata subdivision of new commercial properties in the CBD and Orchard corridors in March 2022, Chan from Savills states that there has been a growing demand for strata-titled units, particularly those with a 999-year or freehold tenure.

With a covered walkway that leads directly to the City Hall MRT Interchange Station, which serves the East-West and North-South lines, Peninsula Plaza continues to be highly sought after by both investors and buyers alike.…

Semi-detached homes situated in prime locations are often associated with high-end luxury living. However, the team at Brand New Land has taken this concept to the next level by incorporating Good Class Bungalow (GCB) elements into their accessible semi-detached homes.

Led by Pau Loh, managing director of Tellus Design and a renowned name in GCB design, Brand New Land has created a collection of four semi-detached homes in Bukit Timah and Upper Bukit Timah. These homes combine the best practices of GCB homes with thoughtful elements that bring accessible luxury to their residents.

For international investors, obtaining a comprehensive understanding of the regulations and limitations surrounding property ownership in Singapore is crucial. Typically, foreign individuals have relatively straightforward access to purchasing condominiums, while owning landed properties has more stringent requirements. However, it is imperative for foreign buyers to adhere to the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for their initial property purchase. Despite this additional expense, the stability and potential growth of the Singapore real estate market continue to entice foreign investments. Additionally, with the introduction of New Condo Launches, there are even more opportunities for foreign buyers to tap into the thriving property market in Singapore. These latest launches present an excellent chance for foreign investors to make their mark in the promising Singapore real estate industry. New Condo Launches provide a promising avenue for foreign buyers to invest wisely in Singapore’s flourishing property market.

Loh, who has worked with Brand New Land for the past three decades, brought his expertise and experience in GCB design to the project. The result is a collection of homes that exude tranquility and elegance, taking inspiration from the natural surroundings.

Dubbed “The Great Trees Collection”, the homes at 23 & 23A Maple Avenue and 25 & 25A Jalan Selanting boast a generous frontage of over 24m and cover land sizes ranging from 2,790 to 3,130 sq ft. Each home comes equipped with a lift, swimming pool, and gourmet kitchen provisions.

Brand New Land’s philosophy of creating value for their clients is reflected in the pricing of these homes, which is kept within the bank valuation range to leave room for potential upside for buyers.

The GCB elements in these semi-detached homes are evident in their design and layout. Dedicated spaces for different functions, such as receiving guests, dining, gourmet cooking, and entertainment, allow for privacy and intimate conversations within the same household.

The homes also feature “ceremonial entrances”, which celebrate the experience of coming home and transitioning from the outside world into one’s own private space. These entrances are adorned with lush greenery, the soothing sounds of water, and warm and rich facade materials.

Loh’s signature style, known for its success in GCBs in Singapore’s tropical climate, is also incorporated into the homes. With wide overhanging eaves and deep recesses, the interiors are kept cool and sheltered. The use of horizontal design elements, such as wraparound golden sand facade treatment and horizontal planters, gives the homes a sense of spaciousness and luxury.

The homes also feature a rich palette of wood-grain finishes, precious marble, and German bath fittings, creating an environment of quiet luxury. Arclinea Singapore, a luxury kitchen specialist, has collaborated with Brand New Land to create gourmet kitchen experiences in these homes, further enhancing the overall luxury living experience.

“We are blessed to work alongside Pau Loh, a very skilled and steady architect, who helped make it happen,” says Alvina Teh, Co-Founder and Director of Brand New Land. “We are very excited about the future that these homes will create for the lives they touch.”

To view these homes, please call 8893 7602. For more information and updates on upcoming launches, visit the Brand New Land website or follow them on Instagram, Facebook, YouTube, and LinkedIn. If you are interested in working with the group or have land suitable for redevelopment, please email them at comehome@brandnewland.com.sg.…

When considering the option of investing in a Singapore Condo, it is important to also assess the potential for rental yield. Rental yield is the annual rental income as a percentage of the property’s purchase price. In the Singapore market, condo rental yields can vary greatly, depending on factors such as location, property condition, and market demand. Areas with a high demand for rentals, such as those near business districts or educational institutions, tend to offer more attractive rental yields. Conducting thorough market research and consulting with real estate agents can provide valuable insights into the rental potential of a specific Singapore Condo.

A 99-year leasehold HDB shophouse located at 214 Serangoon Avenue 4 will be featured in SRI’s upcoming auction on February 26. The two-storey shophouse, which includes living quarters on the second floor, has a total floor area of about 1,668 sq ft. With a guide price of $1.98 million, this translates to $1,187 psf on the floor area.

This mortgagee sale property will be making its second appearance at SRI’s auction, as it was previously listed last month with a higher guide price of $2.08 million but did not find a buyer. According to Jansen Kee, assistant manager of auctions at SRI, the shophouse is situated prominently in front of a bus stop, ensuring good visibility from the road.

The shophouse is currently tenanted, generating a gross rental yield of approximately 6.2% based on the guide price, says Kee. He also mentions that the unit will be sold with its existing lease, which will end in 2026. This means that the new owner will immediately receive rental income.

Kee notes that the listed guide price for this HDB shophouse is one of the lowest for the asset class in the area, making it an attractive proposition for both investors and owner-occupiers. URA records show that the most recent commercial shophouse transaction in Serangoon was the sale of a 999-year leasehold shophouse along Lichfield Road in November 2024. This two-storey property with a land area of 2,319 sq ft was sold for $4 million ($1,725 psf).

The shophouse up for auction is situated within a cluster of HDB flats that border the Serangoon Gardens landed residential estate. It is directly across the road from Serangoon Swimming Complex and Serangoon Sports Centre, providing a steady flow of foot traffic in the area. Parking spaces are available behind the shophouse.…

A luxurious four-bedroom duplex apartment at the prestigious freehold 3 Orchard By-The-Park condominium is now available for sale through an expression of interest exercise, with a guide price of $15.8 million.

The 3,800 sq ft unit translates to roughly $4,158 per square foot, according to marketing agent Huttons Asia. It boasts a ceiling height of 4m and a private lift, with three of the four bedrooms featuring ensuite bathrooms. The unit underwent a major renovation three years ago, with a whopping $700,000 spent on the revamp, as per Huttons.

Designed by renowned Italian architect Antonia Citterio, 3 Orchard By-The-Park comprises three 25-storey towers, offering a total of 77 exclusive units. These include two- to four-bedroom apartments ranging from 1,066 sq ft to 3,800 sq ft, as well as luxurious penthouses spanning from 6,555 sq ft to 6,900 sq ft.

Strategically located on Orchard Boulevard, the development is within close proximity to the famous Orchard Road shopping belt, and is surrounded by esteemed educational institutions such as Anglo-Chinese School (Junior), Anglo-Chinese School (Primary), ISS International School (Elementary & Middle School Campus), and Singapore Chinese Girls’ School (Primary). The Orchard Boulevard MRT Station (Thomson-East Coast Line) is also conveniently nearby.

According to recent transactions, the EOI for this unit at 3 Orchard By-The-Park will close on March 5 at 4pm. To explore more listings for this prestigious condominium, check out the latest properties at EdgeProp Buddy. For further insights, you can also compare the price trend of new sale condos versus resale condos, and find out the rental yield for 3 Orchard By-The-Park. You can also discover other condominium projects with the most expensive average price per square foot in District 10.

Investing in a condo in Singapore offers numerous advantages, one of which is the potential for capital appreciation. Due to its strategic position as a global business hub and robust economic fundamentals, Singapore consistently experiences high demand for real estate. As a result, property prices in the country have continuously increased over time, particularly for condos in prime locations. Savvy investors who enter the market at the opportune moment and hold onto their properties for a considerable period can reap significant profits in terms of capital gains. By exploring the various Singapore Projects, investors can identify the most promising options for long-term financial growth.

In other related news, an accused money launderer is facing seven new charges, having reportedly spent large sums on luxurious goods and the rental of a bungalow and luxury condos. Additionally, ticket sizes for Core Central Region (CCR) condos have dropped by 20% over a span of just five months, while the last tower of 3 Orchard By-The-Park has recently been launched, with four units already sold at prices ranging from $3,850 per square foot to $4,100 per square foot.…

According to the latest quarterly research report from Huttons Asia, the shophouse market has remained relatively subdued in the year 2024 with only 84 caveated transactions recorded. This number falls below the average of 200 deals per year between 1995 and 2023. However, Lee Sze Teck, senior director of data analytics at Huttons Asia, comments that there may have been more unrecorded deals as quite a number of buyers did not lodge a caveat last year. This suggests that shophouse transactions in 2024 could possibly be the lowest since 1998.

In terms of transaction volume and quantum, the 84 caveated shophouse deals in 2024 had a total value of $683.6 million, a 38.9% decrease from the previous year’s deal value of $1.1 billion. Lee also mentioned that some of the unrecorded deals in 2024 were substantial, with properties on Amoy Street, Neil Road, North Bridge Road, and Telok Ayer Street estimated to have been sold for over $200 million each.

The largest shophouse deal in 2024 was the divestment of The Rail Mall by Paragon REIT for $78.5 million in June. This strip mall on Upper Bukit Timah Road comprises of 43 shop units and is likely to be the biggest shophouse deal on record, surpassing the previous high of $74.8 million paid for a row of shophouses along Jalan Sultan in March 2022.

The Rail Mall shophouses were valued at $62 million as of December 2023, indicating a gain of around $16.5 million for the seller. Most of the shophouse deals in 2024 were transacted at smaller quantums, with over half of the caveated deals falling within the range of $5 million to $15 million.

Additionally, almost half of the shophouse transactions in 2024 took place in District 8, which Lee attributes to its desirable city-fringe location and comparatively lower prices compared to Districts 1 and 2.

Meanwhile, shophouse rents across the island continued to moderate for the second consecutive quarter, with a 2.6% quarter-on-quarter decline to $6.47 per square foot per month in 4Q2024. However, for the entire year, shophouse rents saw a 1.7% increase.

Overall, despite the relatively muted shophouse market in the year 2024, there were still noteworthy transactions that took place across the island, with District 8 remaining a popular location for shophouse purchases.

The Singapore Condo market offers a plethora of benefits, with one of the most attractive being the potential for capital appreciation. Situated as a prominent global business hub, Singapore boasts strong economic fundamentals that drive a constant demand for real estate. As a result, property prices in the country have consistently risen over the years, particularly in prime areas where condos reign supreme. For investors who possess the foresight to enter the market at the right time and hold onto their properties for an extended period, they can reap the rewards of substantial capital gains.…

Rewritten:

According to the Singapore Market Outlook 2025 report released by CBRE on January 23, the real estate market may experience divergent outcomes in the next 12 months due to an uncertain macroeconomic outlook.

On one hand, the easing inflation and interest rates are expected to provide some relief for the property market in 2025. However, Moray Armstrong, managing director and advisory services at CBRE, warns that the projected slow economic growth may have a negative impact on property demand.

The Ministry of Trade and Industry is predicting Singapore’s GDP growth to be between 1% and 3% in 2025, a decrease from the 4% growth seen in 2024 based on advance estimates released in January.

Armstrong notes that other factors such as ongoing geopolitical tensions, a new US administration with a nationalistic economic agenda, and the expected release of the URA Master Plan 2025 in the middle of the year may also influence the market in the near future. However, despite these uncertain signals, opportunities still exist for those who can capitalize on emerging trends in the real estate market, he adds.

Tricia Song, CBRE’s head of research for Singapore and Southeast Asia, also remains positive, stating that the limited supply and stable demand continue to bolster the property market. She predicts that the Singapore real estate market will continue to demonstrate its stability and resilience, making it attractive to investors from around the world.

New launches are expected to sustain the momentum of private residential sales. According to the URA data, developer sales volume tripled to 3,511 units in the last quarter, rebounding from record lows in the first nine months of 2024. Prices also saw a 2.3% quarterly growth, the highest in 2024.

Although this rebound may spark speculation of cooling measures being implemented, CBRE believes this is unlikely unless prices increase significantly in the next few quarters. With improved buying sentiment, developers are projected to launch about 12,000 to 14,000 units this year, nearly doubling the 6,647 units launched in 2024. As a result, CBRE estimates 7,000 to 8,000 new homes will be sold in 2025, an increase from the 6,469 units sold in 2024. This higher volume is expected to contribute to a price growth of 3% to 6% in 2025, continuing the 3.9% growth seen in 2024. Rental rates are also predicted to increase between 1% and 3% this year.

Limited supply is also expected to support prime office and retail rents. The office market saw slower growth in 2024 due to global economic uncertainties, high fit-out costs, and hybrid work arrangements. Core CBD (Grade A) rents only grew by 0.4% year on year, compared to the 1.7% growth seen in 2023.

In summary, the purchase of a condo in Singapore offers various benefits, including a strong demand, potential for increased value, and attractive rental returns. However, it is crucial to carefully evaluate factors like the condo’s location, financing options, government regulations, and the current market conditions. By conducting thorough research and seeking professional guidance, investors can make well-informed decisions and maximize their investments in Singapore’s dynamic real estate market. Whether a local investor seeking to diversify their portfolio or a foreign buyer looking for a stable and profitable investment, new condo launches in Singapore present a compelling opportunity.

As economic growth is expected to slow in 2025, the demand for office leasing is also projected to remain muted. However, the limited pipeline of new Core CBD (Grade A) offices over the next three years is expected to keep vacancy rates low. Only about 0.58 million sq ft of new office space will be completed each year between 2025 and 2027, less than half of the 10-year average of 1.28 million sq ft per year. As a result, CBRE predicts a rental growth of about 2% for Core CBD (Grade A) offices in 2025, in line with GDP projections.

Limited supply is also expected to support retail rents. The supply of new retail space is forecasted to decrease to 0.5 million sq ft in 2025, a 40.4% decrease from 2024 and significantly lower than the 10-year average of 0.91 million sq ft per year. CBRE also notes that leasing sentiment for retail properties remains positive due to inbound tourism and a strong pipeline of entertainment and other events. As a result, the firm predicts average retail prime rents will increase by 2% to 3% in 2025, returning to pre-pandemic levels.

Prime logistics rents, on the other hand, are expected to remain flat due to subdued expansion demand by occupiers and a bumper supply of almost 5 million sq ft of warehouse space expected to be completed in 2025. However, more than half of this new space has already been pre-committed, which should alleviate pressure on occupancy rates. CBRE predicts that prime logistics rents will remain relatively stable in 2025.

Despite the uncertain economic and geopolitical climate, CBRE anticipates real estate investment volume in Singapore to continue growing in 2025 but at a slower pace. In 2024, investment volumes increased by 28% year on year to $28.62 billion, reversing the 30.3% decline seen in the previous year. This was influenced by interest rate cuts that boosted investor sentiment, which is expected to continue into 2025. According to CBRE’s latest Asia Pacific Investor Intentions Survey, the majority of investors are likely to purchase the same or more properties in Singapore in 2025 compared to 2024.

However, CBRE believes that investors may be more selective in the near future, choosing to invest in specific sectors or strategies with a more favorable outlook due to ongoing uncertainties. Therefore, the firm predicts a 10% year on year growth in investment volume in 2025, assuming there are no major macroeconomic shocks.

According to CBRE’s survey, the industrial and logistics sector remains the top choice among investors, followed by residential and office properties.…

The most profitable resale transaction over the period of Jan 14 to 28 was the sale of a three-bedroom unit at Palm Spring. The 1,884 sq ft unit on the fourth floor was sold for $4.4 million, resulting in a profit of $3.19 million (264%). The sale also set a record for the highest profit achieved at Palm Spring to date. The condo, located on Ewe Boon Road in prime District 10, has seen consistent price increases over the past 20 years, with resale prices increasing from $973 psf in January 2005 to $2,342 psf in January this year. This freehold development is conveniently located near the Stevens and Newton MRT Interchanges, providing easy access to the rest of the city. Meanwhile, the second most profitable resale transaction during the same period was at Orchard Bel Air, where a four-bedroom unit was sold for $4.65 million, resulting in a profit of $3 million (182%). Located on Orchard Boulevard in prime District 10, this 99-year leasehold condo has an average price of $3,043 psf. The neighbouring Cuscaden Reserve, a 192-unit luxury condo, commands a slightly higher price of $3,043 psf. However, the most unprofitable transaction during this period occurred at Marina Bay Suites, with the seller of a 1,625 sq ft unit incurring a loss of $1.15 million (27%). This 99-year leasehold condo, located as part of the Marina Bay Financial Centre mixed-use development, has seen a decline in average selling prices over the past few years, with the latest transaction fetching $1,907 psf, down from $2,502 psf five years ago. Nearby 99-year leasehold condos such as The Sail @ Marina Bay, Marina Bay Residences, Marina One and V on Shenton command higher resale prices.

Rewriting:

One of the advantages of investing in a condo is the potential to utilize its value for future investments. Numerous investors leverage their condos as collateral to secure additional financing for other investments, allowing them to grow their real estate portfolio. While this approach can potentially increase profits, it also carries risks. Therefore, it is essential to have a solid financial strategy and carefully consider the potential consequences of market fluctuations. To learn more about investing in condos, visit Condo.…

A three-bedroom unit at Watertown, the residential component of the Waterway Point integrated development in Punggol, is set to be featured in SRI’s upcoming auction on February 26th.

Previously listed for sale in SRI’s January auction, the 1,281 sq ft unit is being sold by the mortgagee with a guide price of $2.4 million, amounting to about $1,874 per square foot (psf). Despite only receiving one bid at the previous auction, the property was withdrawn due to the bid falling below the reserve price.

Located on the 13th floor, the unit features a combined living and dining area, an open-concept kitchen, a utility room and toilet, and a south-facing balcony that overlooks one of the condo’s 20 swimming pools. Additionally, there is an ensuite master bedroom, two other bedrooms, and a common bathroom.

The current owners had bought the unit from the developers for approximately $1.8 million ($1,281 psf) in October 2013, according to URA caveats. This year, only one unit has changed hands at Watertown so far – a two-bedroom unit measuring 958 sq ft that was sold for $1.7 million ($1,775 psf) on January 19. In 2020, there were a total of 41 resale transactions at the condo with an average price of $1,700 psf.

According to Eric Liew, manager of auctions and sales at SRI, larger units at Watertown tend to see a higher demand and can command a higher psf price. Out of the 41 resale transactions last year, 10 involved larger units with three or more bedrooms that were sold at an average price of $1,854 psf, approximately 9% higher than the condo’s overall average transacted price for the year.

Liew also noted that most of the interest for these larger units came from HDB upgraders looking for a bargain or individuals planning to use the unit as their primary residence due to its convenient location next to Punggol MRT Station.

Featuring 992 units spread across 11 residential towers above the six-storey Waterway Point shopping centre, Watertown offers one- to two-bedroom units that range from 533 to 1,003 sq ft, and three- and four-bedroom units that span 821 to 1,582 sq ft.

Waterway Point is seamlessly connected to Punggol MRT Station on the North East Line and Punggol LRT Station, and was jointly developed by Far East Organisation, Frasers Centrepoint, and Sekisui House. Families with young children will find several primary schools situated in the area, including Edgefield Primary School, Oasis Primary School, Punggol Green Primary School, Compassvale Primary School, and Punggol Cove Primary School.

Buyers interested in the Watertown unit for sale, or who would like to check out other condominium properties, can visit EdgeProp for more information.

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As an investor, securing financing is a crucial step in investing in a condominium. Fortunately, Singapore has a variety of mortgage choices available. However, it is important to note the Total Debt Servicing Ratio (TDSR) framework, which sets a cap on the loan amount that can be taken based on the borrower’s income and existing debt commitments. Being well-informed about the TDSR and seeking guidance from financial advisors or mortgage brokers can assist investors in making sound decisions regarding their financing options and preventing potential over-leveraging. Additionally, keeping an eye out for promising Singapore projects through platforms like Singapore Projects can also aid in making informed investment choices.…