By: Deborah Law, Executive Director at Expat Realtor
It’s been a different kind of start to this school year, with fewer expats moving to Singapore and more departing. Many others are moving within Singapore to downsize as they shift to local packages with budgets diminished by as much as $10,000 per month. Tenants being highly cost-conscious, we expect a continued decline in rental prices.
The vacancy rate of private homes (including unsold developers’ units), currently sitting at a “healthy” seven percent, is expected to increase as fewer people come into Singapore and a glut of new properties are launched into a soft market. Property consultants are wondering if the time is approaching for the Additional Buyer’s Stamp Duty (ABSD) to be tweaked, as the Total Debt Servicing Ratio (TDSR) is doing the job required to keep the market cool; however, with the news that interest rates won’t go up for another year, this might not be imminent.
Figures show an almost eight-percent drop here over the year; along with Geneva and Hong Kong, Singapore was one of the worst prime performers. That said, many buyers with plenty of equity are just waiting for a bargain, as Singapore remains a popular place for property investment.
For more on the best areas to live, see Expat Living’s 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.
Inner City Convenience: Sunshine Plaza
Size: 1,668 sq. ft
This tranquil, pool-facing apartment has two good-sized balconies, one off the lounge and the other off the third bedroom. This much-loved home boasts a renovated kitchen with custom-made units and Bosch appliances, a fabulous helper and utility area, and plenty of storage space throughout. A 99-year leasehold development, it is only seven minutes’ walk from Bugis MRT Station, Bugis Village and Fort Canning Park. It offers quiet and peaceful living with inner-city convenience. The seller is relocating overseas. Photos in gallery above.
Keppel Bay Cool: Reflections
Size: 4,800 sq. ft
This lovely and rare penthouse-villa is one of the best units at Reflections@Keppel Bay. The bright and spacious living area with balcony, as well as the bedrooms, enjoy unobstructed views of the sea, the marina and the surrounding greenery. The property boasts four spacious bedrooms (all en suite and all with waterfront views), plus a good-sized study room. The family area on the upper floor opens on to a large roof terrace with truly stunning sea views. Available immediately. Photos in gallery above.
Family Style – Duchess Crest
Size : 1,335 sq. ft
Bedrooms: 3 and 4
Popular with families, this low-rise condominium is excellently located amongst the long-established landed properties of Coronation and Duchess Roads, just off Bukit Timah Road, near Coronation Plaza, and with easy access to international schools. The units are of a good size with well-proportioned rooms. A regular shuttle bus to Bukit Timah Road, Newton MRT station and Orchard Road is a huge added advantage. Photos in gallery above.
Riverside Resplendence – Riverplace
Size: 1,044 sq. ft
Bedrooms: 2 and 3
Spacious and in excellent condition, these units lie in the heart of the popular Robertson Quay area, the perfect location to take advantage of some of Singapore’s best restaurants, bars and coffee shops. Chinatown and Clark Quay MRT stations are also an easy walk away. The complex has sprawling gardens, full facilities and impressive pools overlooking the river. Perfect for families and young professionals. Photos in gallery above.
East Coast Ease – 11 Amber
Size: 1,507 sq. ft
With panoramic views of both the surrounding greenery and the sea, this is a bright, breezy unit in a fantastic location. It’s near to Katong Shopping Centre, Parkway Parade and I12 Katong Shopping Mall’s grocery and retail shopping, banks, eateries and more. Only a few minutes’ walk away is a park connector that takes you straight to the beach. It’s ideal for expats, being close to both the Canadian International School and Chatsworth International School. Photos in gallery above.