FoundOnEdgeProp: Jaw-dropping downtown homes with views
By Elizabeth Choong
/ EdgeProp Singapore |
Eden Residences Capitol is a boutique condo that is part of a mixed-use development near City Hall MRT Station. (Photo: Samuel Isaac Chua/EdgeProp Singapore)
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SINGAPORE (EDGEPROP) – Residents living in the Downtown Core Planning Area enjoy the convenience of living in the heart of a bustling city and breathtaking views of Singapore's CBD skyline. More people are expected to move to the Downtown Core after the partial redevelopment of Marina Square and the upcoming development of the neighbouring Marina South.
We searched through the sales listings on EdgeProp and discovered several spacious condo units in the Downtown Core that have excellent location attributes and unbeatable views.
Exceptional unit in an exclusive development
There were several listings for penthouse units in Eden Residences Capitol. This 99-year leasehold development is located along Stamford Road in District 6. The development obtained temporary occupation permit (TOP) in 2016. In addition to its 39 condo units, the mixed-use development also comprises retail outlets and a beautifully restored theatre.
Residents will have the convenience of being a short walk away from City Hall MRT Station, Raffles Hotel, Raffles City, the Esplanade, St. Andrew's Cathedral, and the Singapore Management University.
Source: EdgeProp LandLens (as at 6 November 2023)
At the time of writing, there was a listing for a penthouse at Eden Residences Capitol with an asking price of about $26.1 million ($4,372 psf). The five-bedroom unit is 5,963 sq ft in size.
The unit in Eden Residences Capitol with an asking price of about $26.1 million (Photo: EdgeProp Singapore)
Shenton Way is undergoing a rejuvenation
At the time of writing, there are several sale listings for One Shenton and V on Shenton. Both condos are 99-year leasehold developments located along Shenton Way and in District 1. One Shenton obtained TOP in 2011 while V on Shenton obtained TOP later in 2017. On Shenton is also a smaller development with only 341 units while V on Shenton has 510 units.
Both condos are a short walk away from Shenton Way MRT Station, Lau Pa Sat and Amoy Street Food Centre. It is also surrounded by office towers such as SGX Centre, Asia Square, Hong Leong Building, CapitaGreen, One Raffles Quay and Republic Plaza.
Source: EdgeProp LandLens (as at 6 November 2023)
Shenton Way is undergoing a rejuvenation. A topping-out ceremony was held in August for the nearby IOI Central Boulevard Towers, and it is expected to obtain TOP in 1Q2024. The development features two office towers and 30,000 sq ft of retail and food and beverage spaces. Additionally, the nearby Shenton House was recently sold via a collective sale. The successful buyer is expected to redevelop the site to include Grade A office space and luxury-branded serviced residences.
Savvy buyers might consider investing in a condo unit along Shenton Way to benefit from the transformation of the neighbourhood. At the time of writing, there was a listing for a penthouse-level unit with an asking price of $33 million ($3,611 per square foot). The 9,138-sq ft unit has four bedrooms, a study, and a rooftop private pool.
Private pool of the unit in One Shenton with an asking price of $33 million (Photo: EdgeProp Singapore)
Buyers with a smaller budget might want to consider V on Shenton. At the time of writing, there was a listing for a penthouse unit with an asking price of $21 million ($3,795 psf). The unit in V on Shenton is much smaller than the unit in One Shenton, being only 5,533 sq ft in size and having only four bedrooms.
The unit in V on Shenton with an asking price of $21 million (Photo: EdgeProp Singapore)
Marina Bay expected to benefit from the transformation of Marina South
Marina South is undergoing a transformation as part of URA's plans to develop the precinct into a mixed-use and community-centric district. Two government land sale sites have already been launched for tender to kickstart the development of the Marina South precinct. Residents in nearby Marina Bay are expected to benefit from the increased vibrancy and additional amenities.
For those who enjoy city living while having easy access to numerous amenities, they might want to check out the condo developments in the Marina Bay area. At the time of writing, there were several listings for Marina One Residences and Marina Bay Residences.
Marina One Residences obtained TOP in 2017, seven years after Marina Bay Residences. Marina One Residences is also a much larger development with 1,042 units, compared to Marina Bay Residences, which has only 428 units. Additionally, Marina One Residences is part of a mixed-use development with office and retail spaces.
Both condos are also 99-year leasehold properties that are located within a 500-meter radius of each other in District 1. They are within walking distance of three MRT stations; namely Marina Bay, Downtown, and Shenton Way MRT Stations. Furthermore, Marina Bay MRT Station is a triple-line station, offering commuters easy connectivity to the North-South, Circle, and Thomson-East Coast Lines.
Source: EdgeProp LandLens (as at 6 November 2023)
At the time of writing, there was a listing for a 8,310-sq ft unit on the penthouse level. The four-bedroom unit in Marina One Residences has an asking price of $19.9 million ($2,395 psf). A five-bedroom unit on the penthouse level of Marina Bay Residences has a slightly lower asking price of $19.5 million. However, its smaller size (4,478 sq ft) means that it has a higher unit price of $4,355 psf.
The unit in Marina Bay Residences with an asking price of $19.5 million (Photo: EdgeProp Singapore)
Average price for Downtown Core trending upwards
Since 2012, the average resale price for 99-year leasehold condos in the Downtown Core Planning Area grew 12% to the current average price of $2,478 psf. However, this pales in comparison to the 30% price growth for leasehold condos in District 6 to the current average price of $3,312 psf.
In contrast, the average price for leasehold condos in District 1 inched down by 5% over the same timeframe to the current price of $2,000 psf.
Source: EdgeProp Market Trends (as at 6 November 2023)
Check out the latest listings for Eden Residences Capitol, Marina Bay Residences, Marina One Residences, One Shenton, V On Shenton properties
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