Bukit Timah Properties Sees High Profit Potential
A number of recent developments in Singapore’s Bukit Timah have sparked investor interest, and many of them are offering very high profit potential. These developments include The Forett at Bukit Timah, Mayfair Modern Condominium, and Emerald Park. As the price of these properties continues to rise, now may be the best time to invest in these projects. But before investing in Bukit Timah properties, consider your financial situation and your investment goals before you make your decision.
Forett at Bukit Timah
Forett at Bukit Timaha is a freehold development near the beauty world transformation, yet offers a long walk to the MRT. The developer, Qingjian Perennial (Bukit Timah) Pte. Ltd., is a Hong Kong listed company with a broad portfolio of property in Singapore and overseas. The company is renowned for pioneering the concept of smart homes and innovative flexible layouts in new homes. Moreover, the company has won a number of building-related awards.
The project is a freehold property, which is an additional selling point. The sales launch of the showflats has been encouraging. Moreover, Forett at Bukit Timah’s development has been delayed for a year because of a lawsuit. The developers, however, managed to successfully get the lawsuit dismissed and the project has been on track for completion in 2019.
Forett at Bukit Timaha’s central location and proximity to several amenities and shopping centers make it an ideal investment. For example, the Bukit Timah Plaza and the Sixth Avenue Center are nearby. These centers feature a wide range of goods and quality collectibles. The Central Business District is also less than 20 minutes away. There is a lot of improvement in the area.
Freehold property will retain its value for years to come, thanks to its freehold status. Freehold properties are highly prized by buyers, and will only gain in popularity in land-scarce Singapore. Moreover, the Forett at Bukit Timah is a quiet, private estate located near a forest and major urban amenities. The price of these units is expected to rise considerably over time.
Forett at Bukit Timaha properties are well-backed by an experienced management team and a long list of investors. The developers are Perennial, an integrated real estate and healthcare group, with strong presence in China, Malaysia, Myanmar, and Ghana. Perennial owns properties in prime CBD areas. A high percentage of investors in these developments come from overseas.
Mayfair Modern Condominium
The Mayfair Collection comprises two projects. One is a five-storey development and the other is an eight-storey development. Both face an apartment building across the street. The two buildings were inspired by Georgian townhouses. The location is prime and accessible, with King Albert Park MRT station, Gul Circle MRT station and Beauty World MRT station just a few minutes’ walk away.
Forett at Bukit Timah and Mayfair Gardens in Singapore see high profit potential. Both are freehold developments. They are expected to launch at prices between 18 to 20 psf. The price ranges of these developments vary considerably, but prices are typically between $1.2 million and $1.3 million per unit. A premium unit may sell for $1.4-1.5 million.
Oxley Holdings Limited, the developer of Mayfair Modern, has acquired the former Mayfair Gardens. The company paid $311 million for the site, plus an additional $52 million for Government charges, topping up the development to a new 99-year lease. The company’s profit margin was $218 million after tax for FY2017. The company’s growth has been phenomenal since its inception in 2010. It has many more upcoming projects in the area, adding to the value of the Mayfair Modern location. Oxley Holdings is one of the most lucrative and reputable developers in the region.
This luxury condo is located near the popular Westgate Shopping Centre and Jem MRT interchange, both of which are located within a two-mile radius. It is also near the Newton Food Centre and a number of good schools. In addition to its convenient location, the Mayfair Collection is located close to Raffles Place and Orchard Road. In terms of accessibility, the area is well connected to the major transport nodes, with buses and taxis available within minutes.
The Mayfair development is situated in a low-lying part of the city, and its units are only two blocks high. Most of the units in this project are east-facing, while those on the south-facing floors enjoy views of the Bukit Timah Nature Reserve. The best units in Mayfair Modern are four-bedroom suites in stacks 27 and 51. The north-facing units in stacks 45-50 appear to be oriented towards the tennis court. In addition, they overlook a large outdoor garden.
If you’re interested in investing in Bukit Timah properties in Singapore, you may want to consider the H20 Residences. Located in district 10, this leasehold condo is a popular choice for investors. The H20 was completed in 2015, and the average price per square foot was $1,250. In terms of price per unit, the district logged a profit of 2.82 per cent. Also worth mentioning is the Honolulu Tower, a super boutique condo with 30 units. Its gargantuan size was also a boon to investors and developers.
Investing in property is a long-term commitment. While a few years may seem like a long time to save, investing in a condo in Bukit Timah can provide you with both security and peace of mind. If you choose to buy a new development, you won’t have to worry about the upkeep. In fact, since the Bukit Timah Collection condos are brand new, you can renovate them according to your needs and preferences. Since you’ll be purchasing a property for a long-term commitment, you need to have enough cash to make a downpayment and a mortgage loan for your purchase. A loan is typically a combination of your income and your current financial obligations.
Since the DTL2 train line connects the exclusive area of Bukit Timah with the rest of Singapore, the region has a steady demand for homes and condos. Nearby nature reserves such as Bukit Timah Nature Reserve and the Botanic Gardens have helped create a unique environment that mixes urban lifestyle with nature. The rising demand for properties in Bukit Timah has prompted property agents to take notice.
While it’s true that more Singaporeans are opting to remain single, the number of singles is still a growing factor in the real estate market. Singles cannot purchase HDB flats until they turn 35 years old. As such, singles are likely to look towards private properties and rentals. And millennials are increasingly leaving their families to pursue careers in different parts of the world. In the future, they’ll be the primary buyers of property in the city.
A high-profit area in the heart of Singapore, the Geylang Area, offers many advantages for investors. The area is well-connected by public transportation, and there are many options for purchasing property. Its prime location close to the Aljunied MRT is a key factor, as it provides easy access to several local amenities. It is also within walking distance to a number of local eateries, such as restaurants, cafes, and supermarkets.
Among the high-end projects in the area are the Ritz-Carlton Residences at Cairnhill, the Hilltops at Cairnhill, and the Paterson Suites at Paterson Road. In the mid-tier market, there are numerous developments like Thomson Road and Park Natura. These properties are expected to appreciate in value over the next few years, so buyers are likely to take advantage of the strong demand.
Despite the global recession, the residential property market in Singapore is remarkably resilient. In 2009, developers sold 4,387 units, up from 4,382 in 2008. As the economy continues to recover, the government has enacted a series of measures aimed at stabilising the market. However, the latest measures, announced on Thursday, could squelch any positive sentiment in the market.
As for the en bloc market, this region has continued to outperform the rest of Singapore. In October, the en bloc sale of Dragon Mansion attracted a record-breaking 68 per cent higher than the DC rate on September 1, 2009. Other areas that saw higher price increases include Upper Thomson Rd, Serangoon Ave 3 and Sengkang West Avenue. Those areas will see the highest gains, according to market watchers.
One new development is slated to be built in the area. The Forett at Bukit Timah will occupy a former Goodluck Garden. The project is situated in a highly-desirable enclave. Developer Qingjian Group purchased the land for S$610 million in March 2018. They plan to convert the previous 210-unit apartment into luxury low-rise units. The area is also close to world-class international education, and the surrounding nature will provide a serene retreat from the bustling city.