The decision to invest in a condo in Singapore is increasingly attractive for both domestic and international investors, thanks to the country’s strong economy, political stability, and exceptional quality of life. The real estate market in Singapore presents a wealth of possibilities, with condos standing out for their convenient locations, luxurious amenities, and potential for lucrative returns. This article will delve into the advantages, factors to keep in mind, and necessary actions to take when investing in a condo in Singapore, including keeping an eye on the latest New Condo Launches.
A 99-year leasehold shophouse located at 214 Serangoon Avenue 4 will be up for auction at SRI’s next auction on February 26. The two-storey shophouse, which includes living quarters on the second floor, boasts a total floor area of around 1,668 sq ft. The property has been listed with a guide price of $1.98 million, which translates to $1,187 psf on the floor area.
This is the second time the property is being put up for auction as it was previously listed with a higher guide price of $2.08 million, but failed to find a buyer. According to Jansen Kee, assistant manager of auctions at SRI, the shophouse is prominently located in front of a bus stop, giving it good visibility from the main road.
Currently tenanted, the shophouse is generating a gross rental yield of approximately 6.2% based on the guide price, says Kee. He adds that the property will be sold with its existing lease, which runs until 2026, providing the new owner with an immediate stream of rental income.
Kee also notes that the listed guide price for the HDB shophouse is one of the lowest in the area, making it an attractive value proposition for both investors and owner-occupiers. According to URA records, the most recent commercial shophouse transaction in Serangoon was the sale of a 999-year leasehold shophouse at Lichfield Road. Spanning a land area of 2,319 sq ft, the two-storey property was sold for $4 million ($1,725 psf) in November 2020.
The shophouse up for auction is located within a cluster of HDB flats that border the Serangoon Gardens landed residential estate. It is situated directly across the road from Serangoon Swimming Complex and Serangoon Sports Centre, which draws steady foot traffic. Carpark lots are also available behind the shophouse.