Why Buy Property In Orchard, Singapore?
Traditionally, high net worth property investors and home buyers from overseas always prefer to buy Singapore properties that’s near to Orchard Road, mainly in district 9 and 10.
In the past, majority of these buyers are from countries like Indonesia, Malaysia, China, Hong Kong, Europe and US. But in recent years, as Singapore continue to advance in various areas like financial hub, fin tech start up, GDP growth, medical, infrastructure, and many other areas, more and more investors from all over the world are beginning to invest in Singapore. Now there are many investors from Middle East, South Africa, various parts of Europe, Australia, and Asia investing in more and more of the Singapore properties, not only residential real estate but also commercial real estate like offices and hotels.
In this blog we shall focus our attention on residential real estate alone.
Why are most wealthy investors from all over the world invest in properties near Orchard in Singapore, of all the places?
I can offer several reasons for that, as I have been personally helping quite a number of these high net worth foreign property investors getting their dream property in Orchard location, hence the first hand and real world experience.
Orchard Road is a World Class shopping belt
Just like in cities such as Manhattan (New York), Hong Kong, Tokyo, London, and Sydney/Melbourne, apartments and condominiums that are near to the main shopping belts are some of the most luxurious and expensive one.
In Manhattan, luxury condos near Fifth Avenue are fetching skyrocketed pricing, and the same goes to other cities. In Singapore, Orchard Road is located in the heart of Singapore city and is the main shopping belt. It’s also an internationally well known shopping belt, with millions of tourists visiting annually.
Some of the most famous shopping malls in Orchard are ION Orchard, Ngee Ann City, and Paragon, offering every major luxury brands in the world. Along Orchard Road alone, there are more than 40 shopping malls, a mind boggling numbers, and definitely offer all kind of shopping experience to all kind of shoppers.
More than just Shopping Malls
Despite the crazy numbers of shopping malls along Orchard Road, its beauty and attraction is more than just shopping malls. For example, many rich businessperson and tycoons from Jakarta like to buy high end condo in Orchard Road, because they and their family members prefer to seek medical help from Mount Elizabeth medical centre and Gleneagles Hospital at Orchard Road, which are world class medical centres. High net worth individuals from other nearby countries which are less advanced in medical facilities and expertise, such as Malaysia, Thailand, Vietnam, Cambodia, and Bangladesh also like to get medical treatment in Singapore and often buy condos in Orchard just for that.
Other than medical centre, Orchard also offers all kind of things like endless option of dining, luxury 5 star hotels, international school, pubs, entertainment, recreational activities, as well as jobs opportunities (there are offices in Orchard too.)
In short, it has something for almost everyone, and therefore are very appealing to those investors and home buyers who could afford a property here.
Living Environment and Location
Despite being a bustling and happening shopping belt, surrounding and nearby Orchard Road there are many areas that offer quiet and serene living environment and yet still in close proximity or walking distance to Orchard Road. These are some of the most prestigious and exclusive addresses/locations in Singapore, as they enjoy the best of both world (Being near Orchard and yet away from the bustling and noise, and in tranquil, peaceful and serene living environment).
Some of them are:
- Ardmore Park/Draycott
- Nassim
- Napier
- River Valley
- Cairnhill
- Hullet Road
- Leonie Hill Road
- Balmoral
- Grange Road
- More
Investment Potential and Rental
As we have already established, Orchard Road and its surroundings neighbourhood mentioned above are one of the most prime locations in Singapore and one of the most sought after by expatriates, locals, and overseas home buyers, and it stands to reason that condominiums and apartments in these areas deliver good investment potential, including capital appreciation and rental yield.
Indeed, being active in doing rental and resale in district 9 and 10, I personally find that investors can easily rent out their properties for rental income, as the demand are high.
And, being a prime location in a small and land scarce country like Singapore, capital appreciation are also good in long term. There is simply quite unlikely to have a situation of oversupply in Singapore due to its small size and increasing population, unlike other countries.
In fact, real estate investment is one of the most popular ways Singaporean investors try to preserve and grow their wealth, and fight against inflation.
As of 2018, the population in Singapore is around 5.8 millions, and under government planning, it will increase to 6.9 millions by 2030, and that’s before considering foreigners and expats.
Status, Prestige and Prized Asset
Last but not least, owning a property in Orchard prime location exudes high social status and prestige of its owner. It’s internationally well known that Singapore real estate is one of the most expensive in the world, and properties in Orchard are the most pricey and high end in Singapore. This fact alone makes possessing a prized asset/property in Orchard prime location something to be proud of, because not everyone can brag about owning a luxury condo in Orchard!
That might not be the main reason why wealthy people buy properties here, but it probably play a role too. Just like owning a property in SoHo neighbourhood in New York, or Peak and Mid Level in Hong Kong, or Kensington in London, it’s a prized and trophy asset that make its owner proud.
Summary:
There are other reasons why the rich like to buy into Orchard, but above are some of the main one through my years of experience assisting high net worth overseas buyers to buy Singapore property.
If you are interested and looking to buy or invest in a property near Orchard, we have a wild range for you to consider, some of them are listed HERE for your references.
Buying a property in Singapore is a big decision, and you don’t want to make a mistake. Getting a professional and experienced real estate consultant like us will make sure that your purchase experience is a smooth, successful, and hassle free one. Contact us HERE for a no obligation enquiry and discussion.
Regards,
Jack Ooi
Professional Real Estate Consultant (Singapore)
Youtube Channel: https://www.youtube.com/channel/UCsttVaUP9IxNhryysHizwbg
