As we start to witness rebound of property prices in core central region, particularly in D10, as a result of strong take up rate in OUE twin peaks and Gramercy Park, it is time to ask ourselves – is it time to hop on to the bandwagon of prime condominium? Check out some key points below that make Gramercy Park an attractive deal.
Very limited supply
With a relatively large land space in a prime location, this is a freehold plot is indeed a very rare gem. No wonder, some astute investors have already snatched up some units here, even having to pay additional taxes.
In the following table, it is clear that Gramercy Park has a relatively large land size in its neighborhood, those projects highlighted in green are within 10 mins of walking. With only 174 units in such an expansive area, it gives a good density for living and have fun.
Within the same vicinity, more than half are transacted above $3,000 psf and having to be priced at only $2,600 psf is a steal. In today’s slow market, it is not usual to see developers pricing below neighboring transacted price, but to price at $400 psf lower is indeed rare. Such opportunity only arises from the good bid price and reasonable mark up by the reputable developer like this one – City Development Limited, Singapore’s trusted property pioneer since 1963.
High capital gain potential
With a ceiling price of more than $4,000 psf recorded in the high time of 2014 for this area. There is a large potential room for growth when the market recovers again. Let’s say you sell at $3,600 10 years later, you would have gain a profit of $1,000 psf. That’s a 38% profits, about 3.8% annualized gains. Not forgetting you being able to live in a super prime location during this 10 years, not bad a deal right?
With every investment, there must be an exit plan.
With the population white paper projecting a 6.9 million population by 2030 mainly from the inflow of professional, managers, executives and technicians (PMET), we can infer that the demand for properties in prime area is sustainable.
Together with the limited supply from land sales and redevelopment, the likelihood for capital appreciation in this area remains high.
All in all, a well priced freehold luxury condominium at with ample greens to live in and high potential capital gain is a steal. If you have been waiting to join the class of living right in the city, this is possibly your best chance.
The good news is, you are not too late, there are still good units available in this project. Give me a call to find out more!