Neu at Novena in District 11 is well-connected and strategically located so you can easily travel anywhere around the island. Developed by RH Novena Pte Ltd, this condominium’s futuristic sleek facade will impress anyone who set eyes on it. However, it’s not just aesthetically pleasing. There are plenty of reasons why investment potential is high for this development – its exclusivity of having only 87 units on offer and freehold status definitely are just the metaphorical cherry on the cake.
4 Reasons to Choose Neu at Novena for Your Next Property Investment:
1. Rental Price Increase
Singapore’s overall rents for condos in the Core Central Region (CCR) increased by 4% and the country’s rental prices increased on a year-on-year basis as of Q3 2019.
We can anticipate Neu at Novena’s TOP in 2023. To estimate its monthly rent, let’s dive into the surrounding condominiums. The monthly rental of a two-bedder in Adria can go up to $4,000 while 6 Derbyshire is $3,400 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 mentioned in URA’s Draft Master Plan in Novena and Tanglin where residents can look forward to more leisure and recreational places.
2. Higher Tenant Demand
In 2019, there are 2% more foreigners which contributed to the private property rental market.
We can expect higher tenant demand as there will be more job opportunities with these new developments coming up – the CBD Incentive Scheme, a new Dover Knowledge District (a mixed-use site that is meant to be an extension to one-north suited to technology companies), and the old Pasir Panjang Power District will be turned into the Greater Southern Waterfront, a heritage and lifestyle hub. All these destinations are less than 15 to 20 minutes away from Neu at Novena.
3. Increase in Property Prices
What factors may contribute to these competitive rental and sales rates in and near Neu at Novena?
Transportation and Accessibility
You’ll be glad to know how easy it is to get places to and from Neu at Novena. The nearest train station is Novena MRT Station (just a two-minute walk away), which is only two stops from Orchard MRT Station, and six stops from Raffles Place MRT Station.
Travelling with personal transport is just as convenient too – the Central Expressway (CTE) is a minute away while Pan Island Expressway (PIE) is six minutes away, so travelling to Downtown, Orchard and Raffles Place will take less than 15 minutes.
Grocery shopping is a piece of cake when eleven supermarkets are within 1km of the vicinity. You’ll be even more pleased to know that there are 500 retail shops and food outlets within 500m away from the condominium. Malls include Velocity, Novena Square, United Square Shopping Mall, Square 2 and Goldhill Plaza.
Future Developments within and near District 11
According to URA’s Draft Master Plan 2019 for Novena, there will be improved connectivity with the North-South Corridor and new park connectors, Health City Novena to be a leading healthcare hub, the opening of Thomson-East Coast Line in 2021 (two new stations closest to District 12 are Stevens and Napier), enhancements taking place at Singapore Botanic Gardens, and a new park (Whampoa Park) at Whampoa Road.
Healthcare
Situated right at the heart of Health City Novena, it takes only a minute to get to three health sciences school, four hospitals and hospices, and four specialist healthcare centres. Thus, Neu at Novena occupies a prime spot in the area to serve the working population and needs of the investor and occupier. Other healthcare institutions include Gleneagles Hospital (five-minute away), Concord International Hospital (nine-minute away) and KK Women’s and Children’s Hospital (13 minutes away).
Education
Getting a good education for your child is hassle-free. At Neu at Novena, there are plenty of prestigious schools nearby, great for both local and foreign families with children. They are pre-schools like EtonHouse Pre-School (Newton), primary schools like St Joseph’s Institute Junior (within 1km), secondary schools such as Anglo-Chinese School (Barker Road) and Singapore Chinese Girls’ School and tertiary institutions such as LASALLE College of the Arts and Singapore Management University.
4. Perks for Own Stay
Neu at Novena promises you nothing but excellent facilities. After a long day’s work, you can look forward to taking a dip in five different pools. Fun fact: one of them is called the Hammock Pool! Yes, there are hammocks installed above the pool, making it a perfect spot for lounging and napping the day away. There’s even a Starlight Infinity Pool where you can swim underneath the stars.
You can also indulge in lounging amidst nature at the Cocoon Pods, Horizon Lounge, NEU Sanctuary – picture teepee hut-style day beds overlooking the night view of the city! – and calming gardens. The little ones can enjoy exciting play dates at their very own Children’s Adventure Cove. Make more time for family by spending the day at the Family Lounge and BBQ Pavilion. There’s even Gourmet Dining where you can dine under the stars, perfect for romantic date nights.
Neu at Novena’s units are decked with stylish quality furnishes and finishes and equipped with a comprehensive smart home ecosystem that comes equipped with features like auto lock, double authentication, anti-theft mode and gateway and IP cameras. They come in two to four-bedroom apartments, making it ideal for couples working in the area and families with children.
Impressed with this property? Invest today in Neu at Novena!
Best Mortgage Rate Across All Banks for Neu at Novena
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 Neu at Novena
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 Neu at Novena to comfortably fit your growing family or planning to rent it out to families in the future and the price is at $2,045,000 which is reflective of the market value, your Buyer’s Stamp Duty (BSD) is $66,400.
| 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 $1,045,000 | 4% | $41,800 |
| BSD Payable | $66,400 | |
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 Neu at Novena
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 Neu at Novena
Here’s the ABSD amount you are required to pay if you are an SC:
| Property Ownership | ABSD Rate | ABSD Amount from Price $2,045,000 |
|---|---|---|
| If Neu at Novena is your second residential property | 12% | $245,400 |
| If Neu at Novena is your third or subsequent residential property | 15% | $306,750 |
ABSD for Singapore Permanent Resident when Buying Neu at Novena
Here’s the ABSD amount you are required to pay if you are an SPR:
| Property Ownership | ABSD Rate | ABSD Amount from Price $2,045,000 |
|---|---|---|
| If Neu at Novena is your first property | 5% | $102,250 |
| If Neu at Novena is your second or subsequent residential property | 15% | $306,750 |
ABSD for Foreigners when Buying Neu at Novena
Here’s the ABSD amount you are required to pay if you are a foreigner:
| Property Ownership | ABSD Rate | ABSD Amount from Price $2,045,000 |
|---|---|---|
| Foreigners buying any property | 20% | $409,000 |
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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