Over 90% of 300 launched units were snapped up on the first day of sales. However, it’s not surprising why sales for Avenue South Residence went through the roof.
Located at a prime location, where the Central Business District (CBD) is within 2km away from the property, it’s already clear why locals and foreigners are investing in it.
4 Reasons to Choose Avenue South Residence for Your Next Property Investment:
1. Rental Price Increase
Singapore’s overall rents for condos in the Rest of Central Region (RCR) increased by 2.8% and the country’s rental prices increased on a year-on-year basis as of Q3 2019.
Residential developments found within the 2.5km radius are Spottiswoode Suites and Spottiswoode Residences. Monthly rental price for a three-bedroom in these apartments is $6,000 and $6,800 respectively. Hence, you can roughly guess how much rental fee your property can fetch after its TOP in 2022/2023.
2. Higher Tenant Demand
In 2019, there are 2% more foreigners which contributed to the private property rental market.
With the development of Greater Southern Waterfront which is a five-minute drive from Avenue South Residence, and the expansion of two Integrated Resorts – Resorts World Sentosa and Marina Bay Sand which is expected to birth 5,000 new jobs; we can look forward to more housing, commercial and entertainment opportunities in these areas.
3. Increase in Property Prices
Prices of private residential properties in Singapore are expected to rise by about 2% in 2020 and 2021 according to Fitch Ratings, due to its continuous increase in the third quarter of 2019.This is after hitting their highest levels in at least five years.
What factors may contribute to this increase in home prices in Avenue South Residence?
Transportation and Accessibility
Taking the train? By foot, Outram MRT Station is 10 minutes away while the upcoming Cantonment MRT Station (estimated date of completion is 2025) will be nine minutes away. Connected to three main expressways: AYE, CTE and MCE, with a vehicle, you can reach the CBD in five minutes, Resort World Sentosa and Orchard in eight minutes and Marina Bay Sands in 13 minutes.
Future Developments within District 2
The 24km Rail Corridor which is scheduled for completion in 2021 is highly accessible and connected to heritage, recreational and business areas.
As for the Greater Southern Waterfront, this development will generate an increase in housing, taking place on land which is double the size of Punggol town, rising commercial and entertainment opportunities will form office districts with nightlife, linkable parks and even a new resort. Extending from Pasir Panjang to Marina East, this major gateway will be the latest spot for metropolitan living.
Healthcare
Singapore General Hospital (SGH) and Outram Community Hospital are the closest healthcare centres within 1km radius from the property. The SGH Campus Master Plan is being built progressively, with Phase 1 completed and Phases 2 and 3 to be completed in 17 years.
Education
CHIJ (Kellock), Radin Mas Primary School, Zhangde Primary School, CHIJ St Theresa’s Convent and Cantonment Primary School are schools within the proximity.
4. Perks for Own Stay
Avenue South Residence is decked with over 80 fabulous amenities like a 50m pool, sun and pool terrace, mini golf, pet maze, piano room, tennis court, fruit and herb garden and more.
There’s a handful of cool spots which are popular such as Tiong Bahru, Keong Saik Road, New Bridge Road and Duxton Hill to cure those lonely planless nights.
Buying your dream home in Central South? Invest in Avenue South Residence today!
Best Mortgage Rate Across All Banks for Avenue South Residence
Talk to our mortgage brokers with over 30 years of experience, guaranteed to get you the best home loan rate across all banks in Singapore. Our home loan specialists will assist you with everything you need to know from Total Debt Servicing Ratio (TDSR), Loan to Value (LTV) Limits and Legal Conveyancing.
Buyer’s Stamp Duty for Avenue South Residence
Buyer’s Stamp Duty (BSD) is tax paid on documents signed when you buy or acquire property located in Singapore.
If you opt to buy a three-bedroom unit at Avenue South Residence to comfortably fit your growing family or planning to rent it out to families in the future and the price is at $1,600,000 which is reflective of the market value, your Buyer’s Stamp Duty (BSD) is $48,600.
| Market Value of the Property | BSD Rate | Calculation |
|---|---|---|
| On the first $180k | 1% | $1,800 |
| On the second $180k | 2% | $3,600 |
| Next $640,000 | 3% | $19,200 |
| Remaining $600,000 | 4% | $24,000 |
| BSD Payable | $48,600 | |
Source: IRAS
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Additional Buyer’s Stamp Duty for Avenue South Residence
Liable Property buyers in Singapore are required to pay Additional Buyer’s Stamp Duty (ABSD) on top of the existing BSD. ABSD and BSD are computed on the purchase price as stated in the dutiable document or the market value of the property (whichever is the higher amount).
Who is liable to pay ABSD:
- Singapore Citizen (SC) buying second, third and subsequent residential property
- Singapore Permanent Resident (SPR) buying first, second and subsequent residential property
- Foreigners or entities buying any residential property
ABSD for Singapore Citizens when Buying Avenue South Residence
Here’s the ABSD amount you are required to pay if you are an SC:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,600,000 |
|---|---|---|
| If Avenue South Residence is your second residential property | 12% | $192,000 |
| If Avenue South Residence is your third or subsequent residential property | 15% | $240,000 |
ABSD for Singapore Permanent Resident when Buying Avenue South Residence
Here’s the ABSD amount you are required to pay if you are an SPR:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,600,000 |
|---|---|---|
| If Avenue South Residence is your first property | 5% | $80,000 |
| If Avenue South Residence is your second or subsequent residential property | 15% | $240,000 |
ABSD for Foreigners when Buying Avenue South Residence
Here’s the ABSD amount you are required to pay if you are a foreigner:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,600,000 |
|---|---|---|
| Foreigners buying any property | 20% | $320,000 |
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