Verticus, located along Jalan Kemaman in Balestier, is a freehold condominium. Developed by Soilbuild Group, there’s a handful of reasons why it’s worth investing in, one of them being the accessibility to an array of amenities. Balestier, one of the oldest neighbourhoods in Singapore, has gone through huge transformations. Once a place where crops were grown during the colonial era, it is now bustling with schools, shopping centres, restaurants, hospitals – you name it.
3 Reasons to Choose Verticus 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.
In 2019, there are 2% more foreigners which contributed to the private property rental market.
We can estimate the monthly rent of Verticus by exploring condominiums that are closeby. The monthly rental of a two-bedder in Neem Tree can go up to $3,300 while Kemaman Point is $2,900 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. Increase in Property Prices
What factors may contribute to these competitive rental and sales rates in and near Verticus?
Transportation and Accessibility
Travelling is easy around Verticus as it is close to public transport. The nearest train station is Novena MRT Station (about 1.4km away), which is only two stops from Orchard MRT Station, and six stops from Raffles Place MRT Station. Don’t worry, there are buses at a nearby bus stop, which will take you to the MRT station in 15 minutes. The site is located near the Pan Island Expressway (PIE) and the Central Expressway (CTE), so driving to Downtown and Raffles Place takes less than 15 minutes.
Future Developments within and near District 12 / Balestier, Novena
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.
Other developments include 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 19 minutes away from Verticus.
Healthcare
Is residing near a hospital high on your list of priorities? Well you’re in luck. You need not worry about getting medical treatment because healthcare institutions are just minutes away via car – Mount Elizabeth Novena Hospital (six-minute away) and Tan Tock Seng Hospital (seven-minute away).
Education
Local and international schools are within close proximity too. Just to name a few they are Northlight School, Pei Chun Public School, Bendemeer Secondary School, Australian International School Singapore, CHIJ Secondary (Toa Payoh), St. Joseph’s Institution International, etc – all a short distance drive away from Verticus.
3. Perks for Own Stay
Dine-and-shop options are aplenty! From hawker centres such as Whampoa Drive Food Centre Block 90 to heartland malls like Balestier Plaza, you’ll have no problem fulfilling your local cuisine cravings and purchasing your daily necessities. If you travel a little bit more, you can find more shopping spots – VIIO @ Balestier, Zhongshan Mall, and United Square Shopping Mall. For a larger variety of shops, drive down to the Orchard Road Shopping Belt.
Verticus units range from one to four-bedroom units and penthouses, making it an ideal choice for any individual or family, whether local or foreign. Located conveniently near an array of amenities within the vicinity and major expressways – it’s a home worth investing in, for you and your family.
Have we captured your attention? Invest today in Verticus!
Best Mortgage Rate Across All Banks for Verticus
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 Verticus
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 Verticus to comfortably fit your growing family or planning to rent it out to families in the future and the price is at $2,373,100 which is reflective of the market value, your Buyer’s Stamp Duty (BSD) is $79,524.
| 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 $1,373,100 | 4% | $54,924 |
| BSD Payable | $79,524 | |
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 Verticus
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 Verticus
Here’s the ABSD amount you are required to pay if you are an SC:
| Property Ownership | ABSD Rate | ABSD Amount from Price $2,373,100 |
|---|---|---|
| If Verticus is your second residential property | 12% | $284,772 |
| If Verticus is your third or subsequent residential property | 15% | $355,965 |
ABSD for Singapore Permanent Resident when Buying Verticus
Here’s the ABSD amount you are required to pay if you are an SPR:
| Property Ownership | ABSD Rate | ABSD Amount from Price $2,373,100 |
|---|---|---|
| If Verticus is your first property | 5% | $118,655 |
| If Verticus is your second or subsequent residential property | 15% | $355,965 |
ABSD for Foreigners when Buying Verticus
Here’s the ABSD amount you are required to pay if you are a foreigner:
| Property Ownership | ABSD Rate | ABSD Amount from Price $2,373,100 |
|---|---|---|
| Foreigners buying any property | 20% | $474,620 |
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.
You can buy your new home with Ohmyhome’s VIP agent service at $0 agent fees!
