Undoubtedly, investing in a condo in Singapore comes with a multitude of advantages. The country’s strong economy and steady growth have resulted in a high demand for real estate, making it a lucrative market for investors. Moreover, Singapore’s government has implemented policies to maintain a stable and sustainable property market, providing a sense of security for investors. Another significant benefit of owning a condo in Singapore is the potential for capital appreciation. With the continuous development and urbanization of the city, properties are expected to increase in value over time, offering attractive returns for investors.
Additionally, investing in a condo in Singapore can also bring in steady rental income. The country’s rental market is strong, thanks to its large expatriate population and a steady influx of foreign workers. Condos are particularly popular among renters due to their modern amenities and convenient locations. As a result, investors can expect to earn attractive rental yields, adding to the overall profitability of their investment.
However, it is crucial for investors to carefully consider various factors before making a purchase. Location is a crucial aspect to consider, as it can greatly affect the demand and value of a condo. Areas with good transportation links, proximity to business districts, and nearby amenities are often more desirable and can command higher rental rates. Additionally, investors should also research financing options and government regulations, as they can impact the affordability and profitability of a property.
Furthermore, staying updated on the current market conditions is essential for making informed investment decisions. It is advisable to seek professional advice from real estate experts and consultants who can provide valuable insights and assist in identifying profitable opportunities. A wise and well-informed investment strategy can help maximize returns and mitigate risks in Singapore’s dynamic and ever-evolving real estate market.
Whether you are a local investor looking to diversify your portfolio or a foreign buyer seeking a stable and profitable investment, Singapore’s condo market offers a compelling opportunity. With the country’s strong economic growth and government support, investing in a condo in Singapore is a wise and strategic choice for long-term investment success. To discover potential projects in Singapore, visit Singapore Projects and explore the various options available. Conducting thorough research and seeking professional guidance can lead to a successful and rewarding investment journey in Singapore’s real estate market.
Hill House hits new high of $3,267 psfIf you’re looking for a luxury freehold development in prime District 10, Grange 1866 is definitely worth considering. In the week of Nov 22 to 29, it topped the list of condos that saw a new psf-price high, with a new record of $3,393 psf. The previous record of $3,390 psf was set by the developer in June last year, and this new peak was achieved through the sale of an 818 sq ft, two-bedroom unit for $2.78 million on Nov 27.This marks the 14th-floor unit as the most expensive unit to transact at the development by absolute price so far this year. In total, there have been 12 new sale transactions at Grange 1866 in 2021, with an average price of $3,181 psf. The highest-priced sale at the development this year was for a 1,012 sq ft, two-bedroom unit on the 16th floor, which was sold for $3.02 million ($2,989 psf).Occupying a prime location along Grange Road, Grange 1866 is a freehold development expected to be completed by the end of 2025. The single 16-storey residential block features one- and two-bedroom apartments ranging from 527 and 1,012 sq ft.In second place for new psf-price highs recorded in the week of Nov 22 to 29 was Hill House, a boutique condo located on Institution Hill, off River Valley Road, in prime District 9. The development achieved a new psf-price high for the second time in November, with the latest peak clocking in at $3,378 psf. This was achieved through the sale of a 452 sq ft, two-bedroom unit on the 8th floor for about $1.53 million on Nov 25.The latest sale surpassed the previous record of $3,267 psf by 3.4%. The previous record was set on Nov 11, when another two-bedroom unit of the same size on the fifth floor was sold for about $1.48 million.The developer has sold 12 units at Hill House since the beginning of this year, with the units transacting at an average price of $3,108 psf. The most affordable unit in terms of psf-price that transacted at the development in 2021 was a 753 sq ft, three-bedroom unit on the fourth floor that was sold for $2.21 million ($2,934 psf) on Oct 28.Expected to be completed in 2026, the 72-unit boutique development has one- and one-bedroom-plus-study units between 431 and 452 sq ft, as well as two-bedroom units of 624 sq ft and three-bedroom apartments of 753 sq ft.The final condo on the list for new psf-price highs was The Cosmopolitan. The 999-year leasehold condo set a new record when a 1,324 sq ft, three-bedroom unit on the 26th floor was sold for $3.73 million, or $2,817 psf, on Nov 25. This marked a 0.7% increase from the previous peak of $2,795 psf achieved in October last year when another 1,324 sq ft, three-bedroom unit on the 17th floor of the same block was sold for $3.7 million.The sellers of the 26th-floor unit had purchased the unit for $2.58 million, or $1,950 psf, in November 2010, making a profit of about $1.15 million. Completed in 2008, the 228-unit freehold condo is situated along Kim Seng Road, just off River Valley Road, in prime District 9. Units at The Cosmopolitan range from one-bedroom units measuring 1,141 sq ft to three-bedroom units between 1,324 and 1,399 sq ft, and four-bedroom apartments of 1,679 sq ft.The condo is within a 1km radius of River Valley Primary School and within walking distance of Great World MRT Station on the upcoming Thomson-East Coast Line. Nearby dining and retail options are available at Great World City.As of this writing, there were no new psf-price lows recorded during the period in review. For more information on these developments, search for the latest New Launches, to find out the transaction prices and available units.