Midwood located at Hillview Rise which is in Bukit Batok, is surrounded by two beautiful parks (Little Guilin and Bukit Timah Nature Reserve), you cannot get any closer to nature than this. Developed by Hong Leong Holdings and Hong Realty, this 99-year leasehold estate has many winning points, one of which is being close to the Hillview MRT station (about a seven-minute walk). It’s no surprise why nearly half of the apartments were sold at its first launch weekend.
4 Reasons to Choose Midwood for Your Next Property Investment:
1. Rental Price Increase
Singapore’s overall rents for condos in the Outside Central Region (OCR) increased by 2.9% and the country’s rental prices increased on a year-on-year basis as of Q3 2019.
The expected date of legal completion for Midwood is 2024. We can estimate its monthly rent by exploring nearby condominiums which are closeby. The monthly rental of a three-bedder in Glendale Park can go up to $3,500 while Hillview Heights is $3,050 for the same number of rooms.
This is clearly good news for future landlords, considering its strategic location and the number of upcoming developments within proximity such as the URA’s Master Plan in the West Region where there are new employment areas, new enhancements for community facilities and greenery, and more commuting options and pedestrian network.
2. Higher Tenant Demand
In 2019, there are 2% more foreigners which contributed to the private property rental market.
We can expect a high demand in housing because there will be three new employment areas – Jurong Lake District (JLD), Jurong Innovation District (JID) and Tuas Port. This will be even more so when there’s four MRT lines serving the district by 2035 – improving accessibility for everyone with direct connections to the CBD, Changi Airport, JID and the rest of Singapore.
3. Increase in Property Prices
What factors may contribute to the competitive property prices in and near Midwood?
Transportation and Accessibility
Besides being close to Hillview MRT Station, Midwood is easily accessible to major expressways such as the Bukit Timah Expressway (BKE) and Pan Island Expressway (PIE). From there, it’s a short drive to Holland Village, Orchard Road, and the expanding Jurong Lake District (less than 20-minute drive).
Future Developments within and near District 23 / Bukit Batok
According to URA’s Draft Master Plan 2019 for Bukit Batok, there will be a 24km Rail Corridor (scheduled for completion in 2021) will be travelling along Midwood as it’s anchored at each end by the Hillview and King Albert Park Downtown Line MRT stations, making it highly accessible for residents to connect to heritage, recreational and business areas.
Other developments include Bukit Gombak Park (where there’s an open lawn for community-led activities), Bukit Batok Care Home (which is a nursing home for senior citizens), Hillview Community Club, a new Downtown Line MRT station by 2025 (Hume MRT Station), two new stations Jurong Region Line by 2027 (Tengah Park and Bukit Batok West), new housing and amenities in Hillview and Bukit Batok West.
Healthcare
Getting medical care is not difficult at all; a number of hospitals are within reach – Ng Teng Fong Hospital (13-minute away), Mount Alvernia Hospital (13-minute away), and Concord International Hospital (14-minute away).
Education
Local and international schools are within the vicinity too, ideal for families with school-age children. Just to name a few, they are CHIJ Our Lady Queen of Peace, Pei Hwa Presbyterian Primary School, Hillgrove Secondary School, St. Francis Methodist School, German European School Singapore – all a short distance drive away from Midwood.
4. Perks for Own Stay
Midwood is decked with amenities that would likely guarantee you and your family a fun-filled time. You can have fun sweating it out at the tennis court and outdoor fitness corner. If you’re avoiding the heat, there’s also a well-equipped indoor gym. You will be amazed by the 50-metre rooftop infinity pool and its unblocked views of lush greenery.
Enjoy cosy events or cocktail parties with your family and friends at the wide-open courtyard, BBQ pits, and function rooms at the clubhouse that’s close to the leisure pool. We all know that moments like these don’t come around often, so create them as much as possible. Parents will be delighted to know that one of the property’s facilities includes childcare..
If you need to check off everything on your grocery list, fret not, as Hillview Market Place at HillV2 is just across and Cold Storage at The Rail Mall is a four-minute drive away. Food options within the vicinity can be found at the street across HillV2 (where there are specialty restaurants and cafes that offer regional cuisines, desserts and spirits), Bukit Timah Market (for local cuisines and everyday delicacies), and many more.
Midwood is definitely a paradise for nature lovers because you can take a hike or leisure walk any time you want. Bukit Batok Town Park (also known as Little Guilin), Bukit Batok Nature Park and Bukit Timah Nature Reserve are all within the area too. Ready to turn it up a notch? Try mountain biking at Dairy Farm Nature Park (located on the other side along Upper Bukit Timah Road) as they have a trail dedicated especially for that.
Midwood units range from one to four-bedroom units, making it an ideal choice for any individual or family, whether local or foreign. Located conveniently next to the MRT, major expressways and good schools – it’s a home worth investing in, for you and your family.
Have we captured your attention? Invest today in Midwood!
Best Mortgage Rate Across All Banks for Midwood
Talk to our mortgage brokers with over 30 years of experience and get the lowest mortgage rate at 1.95%. 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 Midwood
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 Midwood to comfortably fit your growing family or planning to rent it out to families in the future and the price is at $1,420,000 which is reflective of the market value, your Buyer’s Stamp Duty (BSD) is $41,400.
| 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 $420,000 | 4% | $16,800 |
| BSD Payable | $41,400 | |
Source: IRAS
Looking at another unit size? Use Ohmyhome’s In-app BSD calculator for faster calculation! Download Ohmyhome from the Play Store or App Store now!
Additional Buyer’s Stamp Duty for Midwood
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 Midwood
Here’s the ABSD amount you are required to pay if you are an SC:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,420,000 |
|---|---|---|
| If Midwood is your second residential property | 12% | $170,400 |
| If Midwood is your third or subsequent residential property | 15% | $213,000 |
ABSD for Singapore Permanent Resident when Buying Midwood
Here’s the ABSD amount you are required to pay if you are an SPR:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,420,000 |
|---|---|---|
| If Midwood is your first property | 5% | $71,000 |
| If Midwood is your second or subsequent residential property | 15% | $213,000 |
ABSD for Foreigners when Buying Midwood
Here’s the ABSD amount you are required to pay if you are a foreigner:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,420,000 |
|---|---|---|
| Foreigners buying any property | 20% | $284,000 |
Agent Service for Home Buyers at $0 Agent Fee
Our real estate consultants will provide you insights about this new launch project and assist you with everything you need to know from Buyer’s Stamp Duty, Additional Buyer’s Stamp Duty, exercising the OTP to sealing the deal.
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