Without a doubt, properties located at the central are some of the most popular options for long-term buys in real estate.
Besides greater connectivity, convenience and accessibility, properties in these locations offer excellent potential for capital gains and maybe even en bloc potential.
In 2017, sales of new properties in Central Singapore transacted at an average of $1,740.50 psf, while resale properties sold at an average of $1,568.80 psf.
In this article, we will look at new and resale three-bedroom condo units that you can buy for under $1.5 million in Central Singapore.
Resale condos:
D12 - Mar Thoma Road
Average price: $1,106 psf
Tenure: 999 years from 1882
Completion date: 2012
No. of units: 212
This 28-storey, 212-unit condominium features full condominium facilities such as a 50m lap pool, a pool deck, Jacuzzi, landscaped pool, floating gym, clubhouse, observation deck, recreational terrace and tennis court.
Between March and April 2017, two 1,109 sq ft three-bedroom units on the 26th floor and 17th floor respectively changed hands for $1 million ($902 psf). In September 2017, a similarly-sized unit on the 23rd floor sold for $950,000 ($857 psf). Find more three-bedroom units at Beacon Heights here.
D11 – Akyab Road
Average price: $1,652 psf
Tenure: Freehold
Completion date: 2010
No. of units: 102
Zedge is 21-storeys high and is located just 528m away from Novena MRT station. Condo amenities include a lap pool, Jacuzzi, gymnasium, pool deck, barbeque area and car park.
The most recent sales transaction took place in September, 2017, when a 915 sq ft three-bedder unit on the fourth floor sold for $1.17 million ($1,282 psf). Find similar units at Zedge here.
D12 – Balestier Road
Average price: $1,588 psf
Tenure: Freehold
Completion date: 2017
No. of units: 28
This boutique apartment is located a stone’s throw away from Balestier Market and about six minutes’ walk away from Zhongshan Mall.
In January 2017, three-bedder units from the fourth to 12th floor sold for between $665,488 (966 psf) and $703,910 ($1,022 psf). Find more similar units at Ascent@456 here.
New condos:
D20 – Ang Mo Kio Street 66
Average price: $1,167 psf
Tenure: Freehold
Completion date: 2018
No. of units: 90
Floraview is a mixed-development with a commercial component – Floravista, which will feature 28 shops and restaurants on the first floor.
In January 2017, two three-bedder units on the fourth floor sold for $1.06 million ($1,060 psf) and $1.09 million ($1,035 psf). Browse more units at Floraview here.
D12 – Lorong 5, Toa Payoh
Average price: $1,442 psf
Tenure: 99 years leasehold
Completion date: 2020
No. of units: 578
GEM Residences is the first private condo to launch in Toa Payoh since 2009, and first hit the market in May 2016. It is located close to Braddell and Toa Payoh MRT stations, and also several schools in vicinity.
Two three-bedder units on the fifth and 23rd floor sold respectively for $1.31 million ($1,382 psf) and $1.43 million ($1,513 psf) in October 2017. You can find similar units at GEM Residences here.
Image source: neemtree.com.sg
D12 – Jalan Kemaman
Average price: $1,570 psf
Tenure: Freehold
Completion date: 2020
No. of units: 84
Neem Tree is located some 400m away from Balestier Plaza and about 600m away from Shaw Plaza. In June 2017, a 710 sq ft three-bedder on the 12th floor sold for nearly $1.1 million ($1,547 psf).
Find similar three-bedroom units at Neem Tree here.