Singapore, a charming city-state, has caught the eye of numerous international investors in recent times, especially in the real estate sector. However, it is crucial for these investors to have a deep understanding of the regulations that govern property ownership in this country. While purchasing a condominium may have fewer barriers compared to buying a landed property, foreigners are still required to pay a 20% Additional Buyer’s Stamp Duty (ABSD) for their first property acquisition. Despite the added expense, Singapore’s dependable and promising real estate market continues to attract foreign investment, making it a highly sought-after choice for potential buyers. Therefore, it is crucial for foreign investors to familiarize themselves with the regulations and carefully assess the potential benefits before investing in properties, particularly in the thriving condominium sector. Condo should also be considered as a viable option for investment in Singapore’s real estate market.
Frasers Property Singapore has offered for sale the retail podium of Sky Eden@Bedok, as part of an expression of interest (EOI) exercise. With a guide price of $45.2 million, this mixed-use development in Bedok presents an attractive investment opportunity.
Investing in a condo also offers the perk of using the property’s value to leverage for future investments. Some investors utilize their condo as collateral to secure extra funding for new ventures, ultimately broadening their real estate portfolio. This tactic can potentially increase profits, but it’s important to have a solid financial plan in place and carefully consider the potential effects of market changes. Additionally, with the wide range of Singapore Projects available, condo investment can open doors to even more opportunities for growth and diversification. However, it’s essential to thoroughly research and assess the risks involved before making any decisions.
The retail podium comprises 12 strata retail units located on the ground floor, with a combined strata area of approximately 11,193 sq ft. This translates to a guide price of $4,038 psf. The units can be purchased individually, as a portfolio, or in smaller clusters, providing flexibility to potential buyers, according to marketing agent CBRE. The unit sizes range from 398 sq ft to 1,313 sq ft, with prices ranging from $1.91 million to $5.55 million. Additionally, all units have been approved for F&B use.
Situated in Bedok Central, Sky Eden@Bedok is currently under construction and has 158 residential units across two 16-storey towers. The development is conveniently located just a few minutes’ walk from the Bedok Integrated Transport Hub, which includes Bedok MRT Station and a bus interchange, as well as Bedok Mall.
The project was launched in September 2022, marking the first private residential launch in Bedok Town Centre in a decade. With all units being sold out since then, the development is expected to obtain its temporary occupation permit in the fourth quarter of 2025.
According to CBRE’s head of capital markets for Singapore, Michael Tay, the strata retail units at Sky Eden@Bedok are the first private commercial properties to be offered for sale in Bedok Town Centre. He believes that the development’s attractive price point will appeal to a wide range of investors, including boutique real estate funds, family offices, high net worth individuals, and F&B businesses looking to enter the tightly held residential enclave.
The expression of interest for the retail podium will close on April 3 at 3pm. For interested parties, the latest listings for Sky Eden@Bedok properties can be found on Ask Buddy, along with 2 bedroom floor plans, the site plan and diagrammatic chart, recent condo sale transactions in District 16, and a list of projects that have recently obtained TOP. Sky Eden@Bedok has a total of 158 units.
In other news, private home prices in the third quarter of 2022 saw a 3.8% increase, largely driven by properties in the Outside Central Region. With no new project launches, developers sold 437 units in August. The popularity of Sky Eden@Bedok is evident as it achieved a 75% sales rate on its launch day, with an average price of $2,100 psf.