FoundOnEdgeProp: Freehold central condominiums below $1 million
By Elizabeth Choong
/ EdgeProp Singapore |
Freehold Mackenzie 88 in district 9 has six listings for $850,000 and under. (Picture: Samuel Isaac Chua/EdgeProp Singapore)
SINGAPORE (EDGEPROP) - The recent increase in Additional Buyer’s Stamp Duty (ABSD) for foreign buyers, as well as Singaporean and permanent resident (PR) investors, gives an advantage to first-time Singaporean and PR buyers. The ABSD rates remain unchanged at 0% for Singaporeans and 5% for PRs first-time buyers. As such, local and PR buyers should seize the opportunity to purchase their first home.
We looked through the listings in EdgeProp and found several bargains that may appeal to these buyers.
Two-bedroom unit in prime district 9 for under $1 million
Oxley Edge is a freehold condominium located along River Valley Road that obtained temporary occupation permit (TOP) in 2016. The 45-unit development is situated in District 9, near Fort Canning MRT Station and UE Shopping Mall.
There are two listings for Oxley Edge with asking prices of under $1 million. One of the listings is for a one-bedder with an asking price of $888,000, and the second listing is for a two-bedder with an asking price of $980,000.
Living area of the two-bedroom unit in Oxley Edge with an asking price of $980,000. (Picture: EdgeProp Singapore)
The two-bedroom unit will be ideal for a couple looking to live near their workplace in the CBD, while the one-bedroom unit might appeal to a young single professional who enjoys café-hopping in the nearby Robertson Quay or the vibrant nightlife in Clarke Quay.
Another affordable freehold condo in District 9
There are six listings for one-bedroom units in Mackenzie 88 with asking prices ranging from $818,000 to $850,000. The freehold development in District 9 is located along Mackenzie Road and obtained TOP in 2009. The 55-unit development is also a short walk to Little India MRT Station and Tekka Market, offering connectivity and convenience to residents.
The unit with the lowest asking price of $818,000 is a 452 sq ft one-bedder on a high floor. Buyers who prefer more space might want to check out a larger one-bedroom unit (475 sq ft)with a slightly higher asking price of $820,000. However, the unit is on a low floor.
Kitchen of the unit in Mackenzie 88 with an asking price of $818,000. (Picture: EdgeProp Singapore)
In the last 12 months, there have been four profitable and one unprofitable transaction for Mackenzie 88. The most recent profitable transaction took place in February for a one-bedroom unit on the third floor. The unit fetched $1,586 psf, which made the owner a profit of $103,000.
Stay in River Valley for less than $1 million
There are numerous listings for Loft @ Nathan with asking prices ranging from $830,000 to $990,000. Like Oxley Edge, Loft @ Nathan is located along River Valley Road. The freehold development in district 10 obtained TOP in 2014. River Valley Point Shopping Mall and Great World City are a short walk from the 121-unit development. Loft @ Nathan also has a number of shops and restaurants on the ground level.
All listings for Loft @ Nathan with asking prices of under $1 million are for one-bedroom units. There is only one listing for $830,000, while most of the listings are closer to $900,000. There is a listing for a mid-floor 452-sq ft unit with an asking price of $890,000 and another listing for a 506-sq ft high-floor unit with a higher asking price of $950,000.
Bedroom of the unit in Loft @ Nathan with an asking price of $890,000. (Picture: EdgeProp Singapore)
In the last 12 months, there have been six profitable and four unprofitable transactions for Loft @ Nathan. Two of the profitable sales took place last month and were for two-bedroom units. One of the two-bedders was sold for $1,509 psf, thus earning the owner a profit of $64,200. The other two-bedroom was sold for $1,438 psf, which earned the owner a profit of only $5,409. The most recent profitable sale of a one-bedroom unit in Loft @ Nathan was transacted in February for $1,720 psf, and the owner pocketed a profit of $9,800.
Check out the latest listings near Oxley Edge, Mackenzie 88, Loft @ Nathan, Fort Canning MRT Station, Little India MRT Station
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