Owning a Singapore condo can bring about a multitude of advantages, one of which is the ability to capitalize on its value for future investments. In simpler terms, investors can utilize their condo as collateral to acquire additional financing for new ventures, allowing them to expand their real estate portfolio. While this can lead to significant returns, it is not without its own set of risks. It is crucial for investors to have a solid financial plan in place and to carefully weigh the potential consequences of market fluctuations before making any investment decisions. With a well-crafted strategy, investing in a Singapore condo, such as Singapore Condo, can present great opportunities for growth in the ever-changing real estate market.
Singapore’s condo market continues to thrive, fueled by the limited availability of land in the small island country and its ever-expanding population. In response, the government has implemented strict land use regulations, leading to a highly competitive real estate market and steadily rising property prices. As a result, investing in real estate, specifically condos, has become an immensely lucrative opportunity with the promise of substantial potential returns. With such favorable conditions, condos have solidified their position as a top choice for property investment in Singapore.
Last weekend, One Bernam, a mixed-use development in Tanjong Pagar, put 87 of its 351 residential units up for sale at promotional prices. Jointly developed by MCC Land and Hao Yuan Investment, this 99-year leasehold apartment tower was first launched in May 2021. As of Jan 10, over 75% of the units had been sold at an average price of $2,585 psf, according to caveats lodged. The promotional prices were applicable to the remaining 87 units, which included one-bedroom, two-bedroom, and three-bedroom units, as well as penthouses. To see the latest prices and availability of new launches, visit New Launches.One-bedroom units, ranging from 441 sq ft to 463 sq ft, saw discounts of $323,000 to $438,000, with prices ranging from $1.295 million ($2,934 psf) to $1.328 million ($2,869 psf).The two-bedroom units, with sizes between 700 sq ft to 732 sq ft, had discounts of $437,000 to $668,000, with units selling at prices from $1.752 million ($2,394 psf) to $1.78 million ($2,544 psf). The two-bedroom plus study units, sized between 807 sq ft and 872 sq ft, saw discounts ranging from $380,000 to $800,000, with prices ranging from $2.139 million ($2,581 psf) to $2.158 million ($2,475 psf). The three-bedroom apartments, spanning 1,421 sq ft, had discounts between $616,000 and $830,000, with prices of $3.496 million ($2,461 psf) to $3.526 million ($2,482 psf).One of the showflats at One Bernam. The project is set to be completed by March 2026. (Photo: MCC Land)According to Marcus Chu, CEO of ERA Singapore, the strong sales performance reflects the high interest in this property as a stable and high-potential asset. He adds that 78% of the buyers purchased their units for investment purposes, with 87% being Singaporeans, and 70% between the ages of 31 to 50. Following the overwhelming response over the weekend, only three penthouses remain for sale, bringing the total sales to 99%. These include two three-bedroom penthouses with sizes of 1,744 sq ft and 1,948 sq ft, and a five-bedroom penthouse with an area of 4,306 sq ft. To read more about Altez vs Skysuites@Anson, and how the layout of a unit can affect its price over the long run, check out Skysuites@Anson vs. Altez: How unit layout affects prices over the long run.As the project is set to be completed by March 2026, investors can expect to start generating rental income, which can help finance their loan payments, Chu notes. According to data from EdgeProp Landlens, existing condominiums in the area, like Altez, 76 Shenton, and EON Shenton, are fetching monthly rents ranging from $6.90 psf to $7.40 psf. (Source: EdgeProp Landlens)To compare prices of new and resale condos, visit Compare price trend of New sale condo vs Resale condo, and district rental listings for District 2. In terms of the buyer profile for One Bernam, Chu notes that the reduced competition from foreign buyers, due to the hike in Additional Buyer’s Stamp Duty (ABSD) imposed in 2023, has opened up more opportunities for local buyers to enter the market. “Local demand will continue to drive the Central Core Region (CCR) property market, with competitive prices making these developments an attractive and stable investment choice,” Chu adds. For more information on One Bernam properties, take a look at BuddyPrice, or check out the price trend chart for One Bernam. For information on new launches, visit Upcoming new launch projects. To view property listings in District 2, visit Any condo rental listings in District 2?. For more information on the buyer profile for One Bernam, check out One Bernam’s buyer profile.