Best Investment in Prime District along Orchard Road

09/11/2020

Due to the recent en blocs & Government Land Sales (GLS) happening all across the island especially in Prime Districts, land costs in S'pore have been growing steadily. District 9, 10 & 11 are the most sought-after prime districts here in Singapore. These districts are the most preferred Prime residential area for expatriates, investors and even locals. Prime residential area refers to Orchard, Tanglin, Holland and River Valley road.

Top bid for Cuscaden site smashes GLS record 

A consortium of SC Global Developments, New World Development and Far East Consortium International lodged the top bid of $410 million for the Cuscaden Road site, which is near Orchard Road. This translates to $2,377 per square foot per plot ratio (psf ppr) and trumped eight other bidders.

It exceeds the old GLS record of $1,733 psf ppr, paid by Frasers Property for a Jiak Kim Street site, by 37 per cent. SC Global chairman and chief executive Simon Cheong noted that it is more than a decade since a residential GLS site was available near Orchard Road.

Consultants expect a break-even price of $3,100 to $3,300 psf, with selling prices for the new project from $3,300 to $3,700 psf. A forecast range of $3,500 to $3,700 psf is achievable as nearby freehold luxury new launches such New Futura and Le Nouvel Ardmore have achieved average prices of $3,200 to $4,000 psf.

Park House sold for record price of $2,910 psf per plot ratio 

Orchard property Park House has fetched a record collective sale price of $2,910 per sq ft per plot ratio (psf ppr), marketing agent CBRE said yesterday. The freehold District 10 development at 21 Orchard Boulevard sold for $375.5 million. This translates to $2,910 psf ppr on the maximum allowable gross floor area of 129,035 sq ft, excluding the 10 per cent bonus for balconies.

The public tender for Park House was awarded on June 1 to Shun Tak Cuscaden Residential, a wholly owned subsidiary of Hong Kong-listed Shun Tak Holdings. Based on the land price, its breakeven price is estimated at $3,500 psf.

"With such keen demand for sites, the en bloc market is likely to stay firm as it continues to be the main source of residential land supply over GLS," he added.

Some of the good condominium investment in these prime districts are 3 Cuscaden, 8 St Thomas, Novel 18, Hamilton Scotts and etc.

Contact me to discuss on how you can invest in the Prime District of Orchard Road: