Buying your ideal home is the number one dream of many homebuyers and investors alike. While pricing and size matter when choosing a property, location is the most crucial. Hence, the East Coast of Singapore may be the answer you are looking for.
Known for its affordable freehold developments, Singapore’s East Coast is a blissful getaway from the city, making it a perfect residential area for families. Plus, upcoming plans of 6,000 HDB flats increase chances of owning flats with sea views along the East Coast!
With various residential options and a myriad of amenities, District 15 remains one of the most preferable locations among property buyers to date. The proximity of apartments located near East Coast Park to the Central Business District (CBD) and Changi Airport allows convenience and accessibility to many amenities for residents.
No matter the purpose, securing the perfect home is no easy task. When buying a property, most would choose whatever “good deal” they could find. As tempting as it may be, you should not purchase mindlessly. Instead, consider these 3 key criterias to assist you for your next property hunt in the East Coast.
1. Catalyst and Transformation
Future amenities are just as important as the present ones. We have heard about the East Coast Plan and the benefits it offers. The opening of the Thomson-East Coast Line improves mobility for residents for faster access to the city. There is no surprise that new launches result to more job openings especially in aviation sector as air travel is vital in sectors such as tourism, hospitality, and retail.
Another key factor that attracts buyers are the amenities and entertainment available near the area. Besides Marine Parade, Bedok and Paya Lebar offer numerous neighbourhood shops and commercial areas. Families, however, are more likely to purchase homes with nearby schools to minimise travel time.
Future development allows room for improvement and opportunities which in turn improves property values. The next time you shop for a home, find out whether there are any plans for new launches—public, commercial, or residential—and evaluate how these developments might affect the desirability of the location.
2. Iconic and Trophy
Singapore’s East Coast is without a doubt a suitable location for urban living by the sea. If there is one thing the East Coast is famous for, it is the iconic landmark trophy design of Amber Park by City Developments Limited (CDL) and SCDA. The tropical landscaping paired with futuristic design integrate both leisure and fitness in one place.
Atop the 3 connected residential towers sits the ‘The Stratosphere’, the star attraction of Amber Park. This elevated platform enables residents to enjoy scenic views from any angle.
It goes without saying, a property that provides more opportunities for future improvements has a higher chance of increasing the value of land. This suggests that the possibility of development results to more activity.
3. Easy Exit Strategy
Before any investment, knowing the outcome of that investment and how you handle it should be taken into consideration. Having a clear exit strategy—either to rent or sell your property—is important as it impacts your financial plans in the long run. This is especially crucial if your property investment is part of your retirement plan.
If you are on the hunt for a new home, look for objective qualities such as amenities, good schools, and public transportation. These qualities will help ensure your investment appreciates or increases in value over time. In short, population increases with demand for land, driving its price up. Speaking of price, pay close attention to the quantum price or total sale price of the property. The quantum decides your rental yield, financing ability and holding power.
Now, Amber Park would be a safe bet affordability–wise. Compared to older resale condos, its quantum for each bedroom type is similar or lower. Though priced higher ($2263-$2732psf), Amber Park is freehold with better finishing and exclusivity.
A home is more than just an investment—be it for own stay or as a second income. Therefore, choosing the right one is important for a great home‐living experience. If you need any help, reach out to Property Giant Singapore and our agents would be happy to assist you!
The above article is written with reference from SPS2020 webinars, organized by Propnex in collaboration with Mediacorp and 99co.