Securing financing is a crucial factor to consider when investing in a condominium. In Singapore, there are various mortgage choices available, but it is crucial to understand the Total Debt Servicing Ratio (TDSR) framework. This framework restricts the amount of loan that a borrower can take based on their income and current debt commitments. Familiarizing oneself with the TDSR and seeking guidance from financial advisors or mortgage brokers can assist investors in making well-informed decisions about their financing options, preventing them from becoming overextended. Furthermore, checking out the Singapore Projects can also provide valuable insights for potential investors.
Prime District 9 freehold condo, The Botanic on Lloyd, has set a new record for psf-price for private non-landed developments. The sale of a four-bedroom unit on the second floor for $5.13 million, or $2,493 psf, on Jan 7 surpassed the previous high of $2,339 psf by 6.6%. Completed in 2006, The Botanic on Lloyd is a boutique development comprising 60 apartments and six townhouses. Transactions at the 66-unit development have been few and far between, with an average of one transaction per year for the past decade. The previous transaction at the condo was recorded in October 2024, when a 3,584 sq ft, four-bedroom unit was sold for $6.88 million ($1,919 psf). Meanwhile, freehold development The Cape achieved the second-highest psf-price for the period in review. The boutique condo saw a new record of $2,284 psf for the sale of a 1,313 sq ft, three-bedroom unit on the 15th floor on Jan 10. The new psf-price peak inched past the previous record of $2,265 psf, set in November 2012. Completed in 2014, The Cape consists of one- to three-bedroom units across a single residential block. In District 15, which comprises the East Coast and Marine Parade estates, Tembusu Grand was the only private residential development to record a new psf-price low between Jan 3 and Jan 11. The new price trough came from the sale of a 1,399 sq ft, three-bedroom unit on the 20th floor for $3.04 million, or $2,174 psf, on Jan 11. The previous record low of $2,193 psf was set in November 2024. Launched in April 2023, Tembusu Grand has since sold 584 units (91.5%) at an average price of $2,444 psf. It is expected to obtain its Temporary Occupation Permit in 2028.