Written by: Marissa Saini
Looking for a home that strikes the perfect balance of peaceful heartland living while just minutes away from everything the city has to offer? Enter Uptown @ Farrer, the mixed-use development that truly encompasses the best of both worlds. Located just beside Farrer Park MRT Station, it’s safe to say that this private residential project by Low Keng Huat (Singapore) Limited should top your list of property investments that are worth a closer look.
4 Reasons Why Uptown @ Farrer is the Right Choice 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.
This bodes well for landlords, considering the strategic location it’s at, which will attract healthy tenant demand from those working in the Central Business District (or simply known as “CBD”). It makes up the cluster of glittering office buildings you’ll find in Downtown Singapore that stretches from Raffles Place to Tanjong Pagar, Chinatown and the Marina Bay area.
2. Higher Tenant Demand
In 2019, there are two percent more foreigners which contributed to the private property rental market.
Uptown @ Farrer will be an attractive living option for those looking for a property that’s located near the CBD yet still reasonably priced (read: without the premium price tag). Imagine not having to endure a long commute to work again, with Raffles City (4-minute drive), Shenton Way (6-minute drive), Raffles Place (6-minute drive) and Marina Bay Financial Centre (7-minute drive) closeby to your home.
3. Increase in Property Prices
What factors may contribute to these competitive rental rates and an increase in property prices in and near Uptown @ Farrer?
Transportation and Accessibility
What Uptown @ Farrer provides in spades is its unbeatable accessibility. With Farrer Park MRT Station right around the corner, hopping on the train will get you to Little India in just one-stop. From there, it’ll easily connect you to the Downtown Line, which will get you to Bugis, Promenade (Suntec City) and Bayfront (Marina Bay Sands) in minutes.
Driving from place to place from Uptown @ Farrer is also conveniently located near to popular shopping malls like Mustafa Centre (fun fact: it’s open 24/7!), Bugis and the world-famous Orchard Road shopping belt. Get to the city with ease through the Central Expressway (CTE) and Upper Serangoon Road.
Future Developments in North-East Region
Exciting projects are in the pipeline for the town of Serangoon. According to URA, there will be new offices and industrial developments at Serangoon Central to bring more employment opportunities a lot closer to home.
Healthcare
Its outstanding location doesn’t just stop at it’s proximity to business hubs and shopping centres. Enjoy peace of mind knowing that renowned hospitals such as Mount Elizabeth Hospital and KK Women’s and Children’s Hospital (KKH) are within reach.
Education
When it comes to being near the best schools, Uptown @ Farrer doesn’t fall short either. Parents, you’ll find Hong Wen School, Farrer Park Primary School, and Stamford Primary School within 1km of the property. Other prestigious schools such as Anglo-Chinese School (Junior), St. Margaret’s Primary School, St. Joseph’s Institution (Junior), and universities like Singapore Management University (SMU) and LASALLE College of the Arts are just a few minutes away by car.
Perks for Own Stay
Indulge in the high life when you and your family live it up in Uptown @ Farrer. Equipped with a glistening lap pool and spa pavilion (for the grown-ups) and a Kids’ Water Play area (for the little ones), there’s so much fun to be had without leaving your home. Need a little breather? Cosy up in the ever-serene Magnolia Lounge.
Expected to TOP in 2022, you’ll need not wait long to move into this centrally-located condominium. Exclusive projects in District 8 like the Uptown @ Farrer just goes to show that you need not live in the Core Central Region (CCR) to enjoy luxurious city-living.
Found your dream home at Uptown @ Farrer?
Best Mortgage Rate Across All Banks for Uptown @ Farrer
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 Uptown @ Farrer
Buyer’s Stamp Duty (BSD) is tax paid on documents signed when you buy or acquire property located in Singapore.
Units at Uptown @ Farrer fetch prices that range from $1,800 to $1,900 psf. If you opt to buy a three-bedroom unit at Uptown @ Farrer to comfortably fit your growing family or planning to rent it out to families in the future and the price is at $1,320,000 which is reflective of the market value, your Buyer’s Stamp Duty (BSD) is $37,400.
| 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 $320,000 | 4% | $12,800 |
| BSD Payable | $37,400 | |
Source: IRAS
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Additional Buyer’s Stamp Duty for Uptown @ Farrer
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 Uptown @ Farrer
Here’s the ABSD amount you are required to pay if you are an SC:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,320,000 |
|---|---|---|
| If Uptown @ Farrer is your second residential property | 12% | $158,400 |
| If Uptown @ Farrer is your third or subsequent residential property | 15% | $198,000 |
ABSD for Singapore Permanent Resident when Buying Uptown @ Farrer
Here’s the ABSD amount you are required to pay if you are an SPR:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,320,000 |
|---|---|---|
| If Uptown @ Farrer is your first property | 5% | $142,000 |
| If Uptown @ Farrer is your second or subsequent residential property | 15% | $426,000 |
ABSD for Foreigners when Buying Uptown @ Farrer
Here’s the ABSD amount you are required to pay if you are a foreigner:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,320,000 |
|---|---|---|
| Foreigners buying any property | 20% | $264,000 |
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 BSD, ABSD, exercising the OTP to sealing the deal.
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