A Guide to Buying Luxury Condos in Singapore
Hello potential home buyer and property investor, my name is Jack Ooi and I am a Professional Real Estate Consultant in Singapore specialising in luxury property segment in Singapore.
In my blog I would like to share with investors and home buyers, especially those foreigners, on tips, info, general guideline, rules and regulations, and strategy in investing in Singapore real estate.
As of the of the most prominent financial hubs in the world, Singapore has always been a popular spot for real estate investment. Along with other financial hubs like New York, Hong Kong, and London, Singapore real estate market is one of the most popular and sought after,
Over the years, as more capital flowing into Singapore and more MNCs opening up companies and bring in more high paying jobs, the real estate market in Singapore is booming, especially in the prime luxury locations.
In future blogs I will discuss more about details on rules and regulations for foreigner to buy a property in Singapore, as well as other informations like where to buy, what to look for, and more. In this blog, I will give a general introduction on the luxury condos segment in Singapore.
Where are the luxury condos located in Singapore?
Singapore, although small, is divided into 28 districts by URA (The Planner of Singapore). So, where are the luxury condos in Singapore located?
A short and generic answer to that question will be: District 1 (Raffles Place/Marina), 2 (Tanjong Pagar), 9 (Orchard/River Valley), 10 (Orchard/Holland/Bukit Timah) and district 4 (Keppel Bay/Sentosa). These 4 districts are where you usually will find the luxury condos. In fact, traditionally, prime locations in Singapore for property are always consider to be in district 9 and 10, and maybe 11 (Novena/Newton). But in recent years as Singapore Central Business District (District 1 and 2) started to have more residential developments coming up, more high end posh condos can be found there as well.
Here are a short introduction on each of this district:
District 1 and 2 (Raffles Place/Marine/Tanjong Pagar)
These are the CBD ( Central Business District ) of Singapore, this is where all the big companies and financial institutions are located. Like Standard Charted bank, Citibank, SRX, and more.
I personally estimate that more than 60-70% of the high paying expats in Singapore are working here in CBD, because this is where most of the high paying jobs to be found, as most MNCs and huge banks and financial institutions are.
In the past, CBD of Singapore is just a place for business, but as the CBD is expanding to Marina Bay area, with places like Marina Bay Sands and Marina Bay Financial Centre coming up, there are more residential condos and apartments being developed to integrate into the new theme of “Work, Live, Play”.
Some of the most notable high end properties in these areas are Wallich Residences, The Sail at Marina Bay, Marina One Residences, Marina Bay Suites, Icon, and more. Future blog will cover these districts in greater details.
District 9 and 1o (Orchard/River Valley/Bukit Timah/Holland)
Traditionally the most prime district in Singapore, especially those condos near to Orchard Road. These are the areas that traditionally favoured by high net worth foreign investors from countries like Indonesia, Malaysia, Hong Kong, China, Europe and US.
Orchard Road being a world class shopping belt and renown reputation internationally, make it an attractive location to invest in property. It promises exciting and convenient lifestyle, as well as central and strategic location, and importantly, prestige of owning a property in this prime location. We specialise in this location and have probably the wildest range of condos in Orchard area.
Some of the recent high end condos near Orchard are New Futura, TwentyOne Angullia Park, 3 Cuscaden, 3 Orchard by the Park, 8 St Thomas, and more. For these condos, you can click on it to see more details. We also have a segment exclusively on all the projects we have in prime luxury segment, go HERE for more info.
Of course, other than near Orchard Road, district 9 and 10 also cover other prestigious locations like River Valley, Cairnhill, Nassim, Ardmore, Robertson Quay, Holland, and Bukit Timah areas. Future blogs will cover in details.
District 4 (Sentosa/Keppel Bay)
Sentosa is one of the most popular tourism spots in Singapore. It’s a small island off the main island of Singapore, connected by a short bridge. One of the most notable attractions in Sentosa is Resort World Sentosa by Genting group, an integrated development that include casino, Universal Studio theme park, 5 stars hotels, lots of restaurants, Aquarium, and other theme parks.
Over the years, many rich foreigners have invested in properties in Sentosa, for a few reasons.
First, Sentosa is one of the nicest place in Singapore in terms of its living environment. It’s just a superb place to live, and no where else in Singapore looks like this.
Next, Sentosa is the only place in Singapore where a foreigners can buy and own a landed bungalow and house. Any other parts in Singapore, foreigners are not allow to buy and own landed housing. Therefore, Sentosa Cove, a high end, posh neighbourhood in Sentosa with many nice bungalow, is the playground of the riches from overseas.
Summary
In future blog posts, I will share more about the properties in each of these districts, as well as providing more info on buying Singapore property as a foreigners, the rules and regulations, stamp duty, various taxes, and others.
Feel free to contact us for a no obligation enquiries and discussion if you are looking to buy or invest a property in Singapore.
Thanks and have a nice day!
