If you’re thinking of buying a private property for rental income or investment purposes in 2018, it is worth noting that the rental market is still not very strong. In the near-term, you should not expect super attractive yields from your properties. With rising interest rates, it might be prudent to also be conservative when counting on rental income to service any debt obligations.
However, if you are in the market for a condominium to live in, then the property market is still a viable option today. Here are four condominiums due to launch in the second half of 2018 that have the lowest indicative prices. Whether these condos are worth their asking prices is something prospective homebuyers need to carefully evaluate for themselves.
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The Jovell
Condominium launches in the East are always a treat welcomed by potential property buyers. Located on a 242,558 square foot site in Floral Drive in Changi, The Jovell is developed by Tripartite Developers, a fully-owned subsidiary of Hong Leong Holdings and City Developments (CDL).
When completed, this 99-year condominium is expected to comprise 428 units, housed in 9 residential blocks of 8 storeys each. Unit sizes range between 1 to 4 bedrooms.
With an indicative price starting at $ 1,2xx per square foot, The Jovell is widely seen as one of the most affordable condominiums in the market today.
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Riverfront Residences
Built on the site of the former Rio Casa HUDC estate, Riverfront Residences is a large 1,472-unit development in Hougang Avenue 7. Jointly developed by Oxley and Lian Beng, this 99-year development offers housing options ranging from 1 to 5 bedrooms, as well as strata terrace houses.
Riverfront Residents just opened for preview this weekend, with unsurprisingly huge crowds turning up. The development boasts extensive common areas, including three differently-themed clubhouses that houses a co-working space, dedicated KTV/movie room, a gym, a grand dining room, and a fully-equipped kitchen.
Prices start at $1,4xx per square foot.
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The Tre Ver
Launching in July, Tre Ver is built on the site of Raintree Gardens, a privatised HUDC estate. Developed by a joint venture between UOL Group and United Industrial Corporation, this 729-unit development sits on a site area of 201,405 square feet in Potong Pasir Avenue 1.
The Tre Ver is a 99-year condominium that comprises of 5 residential blocks that tower up to 20 storeys, and 4 garden blocks of 7 storeys. Units range from 1 to 4 bedrooms.
Indicative prices show that prices for The Tre Ver start at $ 1,5xx psf.
Daintree Residence
Daintree Residence is a brand new condo developed by SP Setia International in District 21, along Toh Tuck Road, near Upper Bukit Timah. The 99-year development is sitting on a 201,511 square feet plot of land and is within walking distance to Beauty World MRT station.
When completed, Daintree Residence will be home to 327 units with sizes that range from 1 to 4 bedrooms. It comes with standard facilities like a jacuzzi, indoor gym, swimming pool, children’s playground, functions room, BBQ area and guard house.
Daintree Residence is expected to lauch in July with indicative prices starting at $ 1,6xx per square foot.
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