By: Deborah Law, Expat Realtor Executive Director
Investors believe that if the present market sentiment persists then a good time to re-enter the currently overpriced Singapore market may be in 12 to 18 months’ time. In the meantime, Singapore-based property investors are flooding into Europe – they’re currently the top buyers in Dublin, second in Paris, third in London, not to mention Australia – and overseas developers are responding and opening up shops here at a great rate.
Local developers with slow take-up on their new projects have started to discount from around 10 to 14 percent, with those most affected advised to offer as much as 20 percent to get their stock moving. Offers of free appliances and other initiatives don’t hold the same power in a market where price per square foot and the absolute price quantum are what matters. Other strategies being taken on by developers include re-building show flats, offering different materials, linking in with more sales agencies and offering higher commissions.
Within the expat residential rental market, July will see a spike in activity for the August commencement of the school year, both with newcomers and people relocating within Singapore as their leases come up for renewal. If you’re one of the many needing to reduce your rental, the current tenants’ market suits you well. Landlords usually prefer to look after their sitting tenants rather than look for a new tenant, so speak to your current landlord first before searching elsewhere.
For free advice on comparative market pricing and what you can get within your budget in this current market, call me on 9171 3392.
For more on the best areas to live, see our neighbourhood round-up here, plus lots of specific area guides by expat residents here.
Check out Expat Realtor’s selection of hot properties below – with all the photos appearing in the gallery above. For more properties, head here, and for viewings, email firstname.lastname@example.org or call 6255 1027.
Katong Kool: Malvern Springs
Size: approx. 2,000 sq. ft
Entertainers’ delight! Currently owner-occupied, this penthouse unit with a beautiful roof terrace has been carefully and lovingly renovated. It has high-ceiling windows creating a modern, bright feel. There are three good-sized bedrooms, an open lounge-dining area and a separate kitchen.
The boutique-style low-rise condo offers handy facilities in a kid-friendly atmosphere, including a water playground, resort pools and a gym. Shopping malls 112 Katong and Parkway Parade are nearby, while Eunos MRT is 15 minutes away. Close to international schools and to East Coast Park for outdoor fun and exercise.
Patio Perfection: Savannah CondoPark
Size: 1,770 sq. ft
This idyllic ground-floor patio unit has been perfectly renovated by its owner-occupiers, offering ample storage, a perfect entertaining ambience, good-sized rooms, and the ideal corner garden patio (approximately 500 sq. ft).
The condo is great for families, with facilities including a bowling alley; it’s also hugely convenient – Simei MRT is a five-minute shuttle bus way, and the airport, Changi Business Park, One World International School and UWC South East Asia are all close by. Nearby shopping malls include Eastpoint Mall, Changi City Point and Tampines.
Connection Convenience: Arcadia Gardens
Size: 3,750 sq. ft
Bedrooms: 3 + 1
Be the first to rent this exquisitely renovated, top-end apartment in one of Singapore’s most popular condos. The photos speak for themselves; this four-bedroom unit has been tweaked to three bedrooms, to create great space and flexibility. A magnificent, quiet-facing balcony is the perfect spot for dining outdoors and enjoying the greenery.
The property is close to the PIE, Orchard Road and international schools, and there’s also a shuttle bus on weekdays from nearby Hillcrest Arcadia. Full facilities include tennis, squash and basketball courts, a gym, a clubhouse and a children’s playground.
Siglap Serenity: 22 Siglap
Size: 2,600 sq. ft
This is a great family home set in a quiet cul-de-sac, with a well-maintained garden at the front and a patio with room to park a car. Although not a large house, all its rooms are a really decent size, and the bedrooms are huge with plenty of wardrobe and storage space. There is a family or office area on the third level, and two bedrooms on each floor.
Located just off Still Road and close to Marine Parade Road, the property allows easy access to the ECP and East Coast Park, shops, restaurants and more. It’s a 15-minute drive to the CBD, and 10 minutes to Changi Business Park.
Nongsa Nostalgia: Nongsa
Size: 3,000 sq. ft
Bedrooms: 5 or 6
Type: Detached villa
Situated on the northeastern tip of Indonesia’s Batam Island, just 30 minutes by boat from Singapore, this idyllic resort village is set on more than 10 hectares of lush tropical jungle. Rustic, yet with modern fittings, these villas are hugely popular with expats working and also holidaying on Batam.
This particular villa is set on the hillside overlooking the sea, with unblocked view and an easy walk to the beachfront. The two-storey property has been modified by its French owner to incorporate an extra three bedrooms on the ground floor, creating a great family bungalow with six bedrooms. The open-plan kitchen, dining, living and patio areas offer fabulous views and great entertaining.
Residents can use the resort pool and gym, or the facilities at adjacent Turi Beach Resort, Nongsa Point Marina and Resort and Tamarin Santana Golf Club.
For sale or rent, as the owners are relocating overseas.
Superbly Spacious: Jln Kampong Chantek
Size: 4,000 sq. ft (built), 9,000 sq. ft (land)
With its sense of the grandeur and luxury of old Singapore, this home offers extra-large everything: bedrooms, lounge and dining area, kitchens – wet and dry, rolling lawn to the left and back of the house, and plenty of patio areas. The current tenant has installed a swimming pool; you can negotiate to have it kept or not.
The house is about a 10-minute walk from Bukit Timah and Dunearn Roads, and 15 minutes the other way to the British and Swiss Clubs. The location is perfect for easy access to town, the PIE motorway and international schools.
Beautiful Bayshore: Bayshore Park
Size: 2,196 sq. ft
This renovated four-bedroom apartment is an entertainer’s dream. An open-plan kitchen features modern appliances and opens to a full dining area with sweeping views from the city to Changi beach. The balcony has extensive space for a barbecue and outdoor living.
The indoor living area also commands unblocked views, while a generous master bedroom with balcony and private master bathroom has been immaculately renovated and features a large wall-to-wall walk-in shower. There are three other bedrooms, an additional bathroom, and a separate helper’s and laundry area with additional storage.
Bayshore Park is popular with expats due to its spaciousness both indoors and outdoors, and its direct access to East Coast Park. Full facilities include a supermarket, a restaurant, a spa, squash and tennis courts and two swimming pools. Changi Airport is 10 minutes away, it’s an easy drive to the city, and schools on the East Coast are close by.