In recent years, purchasing a condo in Singapore has become a highly sought-after investment option for both locals and foreigners alike. This is largely due to the country’s strong economy, stable political climate, and exceptional quality of living. With its flourishing real estate market, Singapore presents a plethora of opportunities for investors, with condos standing out as a prime choice for their convenience, amenities, and potential for lucrative returns. In this article, we will delve into the advantages, factors to consider, and necessary steps when investing in a Singapore condo through Singapore Condo.
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In the week of November 29 to December 6, the private condo The Meyerise recorded the highest psf-price among several private condos in Singapore. A three-bedroom unit on the 24th floor measuring 1,270 sq ft was sold for the price of $3.52 million, setting a new price peak of $2,771 psf. The previous record of the project was $2,764 psf, which was set in October last year when a four-bedroom unit on the 28th floor measuring 1,819 sq ft was sold for about $5.03 million. The unit sold on December 6, was only 0.25% higher than the previous record of the project. The Meyerise is a freehold condo that was completed in 2015 and it comprises of 239 units. It is located on Meyer Road within District 15. It has twin 31-storey residential towers, with units ranging between 872 sq ft and 1,313 sq ft for two- and three-bedroom units, 1,819 sq ft and 2,056 sq ft for four-bedroom units, and 5,490 sq ft for a penthouse unit. The Meyerise is within 1km of two MRT stations namely Tanjong Katong MRT Station and Katong Park MRT Station, serving the Thomson-East Coast Line. Several schools are also located within a 2km radius, including Kong Hwa School, Tanjong Katong Primary School, Tanjong Katong Girls’ School, and Tanjong Katong Secondary School. The Imperial, a freehold condo located along Jalan Rumbia in prime District 9 took the second spot among projects that recorded new psf-price highs during the same week. On December 5, a three-bedroom unit on the 14th floor measuring 1,410 sq ft was sold for the price of $3.7 million, achieving a new top price of $2,624 psf. This transaction exceeded the previous record of $2,566 psf for the project by 2.3%. The former record was set in May last year when a three-bedroom unit on the 12th floor measuring 1,356 sq ft was sold for the price of $3.48 million. According to URA caveats, the unit sold on December 5 last changed hands back in September 2004 when it was purchased at a price of $1.3 million, or $925 psf. Therefore, the sellers made a profit of around $2.4 million. In the year to date, The Imperial has recorded six resale transactions at an average price of $2,414 psf. Prior to the transaction on December 5, the unit to last change hands was a four-bedroom unit on the fifth floor measuring 1,905 sq ft, which was sold for the price of $4.6 million on November 28 this year. The Imperial is a freehold condo that was completed in 2006. It has a unit mix that includes two-bedrooms measuring 980 sq ft to 1,012 sq ft, three-bedrooms measuring 1,356 sq ft to 1,991 sq ft, and four-bedrooms measuring 2,034 sq ft to 3,552 sq ft. Sky Vue, a 99-year leasehold condo completed in 2016, took the third place during the same week, hitting a new psf-price of $2,505 psf. A three-bedroom unit on the 33rd floor measuring 1,141 sq ft was sold for the price of $2.86 million on December 2, recording new high psf-price for the project. The previous record of $2,366 psf was set in August when a similar three-bedroom unit on the 14th floor was sold for $2.7 million. According to URA caveats, the unit sold on December 2 was last transacted in September 2020 when it was purchased for the price of $1.86 million, or $1,630 psf. Therefore, the sellers made a profit of about $1 million. Sky Vue is a 694-unit 99-year leasehold condo that is located along Bishan Street 15 in District 20. It has two 37-storey towers with one- to three-bedroom units occupying spaces between 484 sq ft and 1,259 sq ft. The development is within walking distance of Bishan MRT Interchange, which serves the North-South and Circle Lines. It is also located directly across the street from Bishan Bus Interchange and connected to Junction 8 mall located along Bishan Place. The mall offers an assortment of retail and dining outlets. There were no new psf-price lows recorded during the same week.