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Margaret Drive New Release Condo
Singapore – Through the Government Land Sales of December 2016, a piece of land sitting on Margaret Drive which is right next to Queensway Secondary School were being triggered for a tender exercise. Due to the attractiveness and highly sought-after district 03 locale in recent years, we were not the least surprised in witnessing an intense bidding war coming from 14 major property firms, just for this land parcel due to its palatable size and price.
This land parcel was awarded to MCL Land after a series of fierce bidding, and at the highest purchase price of $238.39 million. It was only a mere 7.9% higher than the second highest bidder, Allgreen Properties. It works out to be $998 per square foot per plot ratio for this new launch condo at Margaret drive. Signalling a balanced and stable market outlook by the cautious developers whom had took part in the tender exercise.
The actual site of this land parcel is strategically located between both Queenstown and Commonwealth MRT Train Stations. A few hundred meters of distance, a couple of minutes’ walk away to either one. The site on topic right now is a 99 years leasehold land, with a site area of about 51,772 square foot and a maximum permissible Gross Floor Area (GFA) of approximately 238,906 square foot. Based on market observers, it could yield as much as 320 apartment units in the development when launch.
Analyst had expected the breakeven point at about $1,500 per square foot, which makes it to be one of the more competitive price range around the same vicinity as compared to commonwealth towers and queens peak nearby. New launch condo projects in this area have been generally well received by the consumers and home buyers. If you’re one of the owner in Queens development, we’re pretty sure that it will put a smile on your face as the property prices have been increasing steadily in your neighbourhood for the past few years.
Going forward, there will be a lot more to offer in this region and district. Even with a higher price point, this up coming project possess immense qualities and have got what it takes to make up for the premium difference. In fact, our 5-room public housing board flat (resale hdb) at Strathmore ave (nearby) has broken record by transacting over $900,000 in 2017. If a public housing cost nearly a million dollar in the same community, how much would you pay for a private condominium then?
When the time comes, we will be updating more project insights for you, pertaining to this new launch condo at Margaret drive. Stay tuned!
While we are writing this before publishing, developer have made an announcement and named this solid residential development as Margaret Ville Condo. It will no doubt having a view to die for at 40-storey high as it will be overlooking Holland and Ridout Good Class Bungalows Areas.
Besides the luxurious and exclusive neighbour enclave right opposite, you will have greenery landscaping as well as the city skyline as a backdrop. Your visitors will be wowed!
Contact us for more details now!
There are a lot of us who are interested in global investments. If you are one among them, then investment ideas in Singapore are definitely on your list. Undoubtedly Singapore is one of the best places in the world where you can make successful investments. Apart from the fact that the nation saw humongous growth in an unbelievably short span of time, there are also other reasons as to why the Singapore has a successful housing market. The flourishing economy, stable governance and proper rules and regulations are some of the reasons. So in order to become a successful investor in the housing markets of Singapore, it is imperative that we understand the Singapore property law. Here are some of the things that you should know about the Property act of Singapore:
- The property act in Singapore is enforced so well that it ranks 19th in registering property and 2nd position enforcing contracts.
- In case if you didn’t know earlier, the majority part of the property act is enforced in such a way that it favors the owners of the property. Surprising right? Most of the acts that govern property law across the globe are designed in such a way that they help the buyers, but the property law in Singapore differs there. They stand in favor of the owners of the property, even in case you are renting out a property.
- If you are a foreigner, you have to abide by certain rules and regulation such as a foreigner is not supposed to buy a property that belongs to the public development housing. A foreigner can invest only in private housing corporations. However, the number of apartments that you purchase in a building is restricted as per the prescribed terms. This simply means that you cannot buy all the apartments in a particular building.
- In case if you are looking for a commercial or an industrial estate, nothing can make you happier than Singapore because there are no restrictions on a foreign national in the event of this person buying a commercial or an industrial estate.
- Though this is not in relevance to the topic that my prospective readers are interested in, since it is property act, it is important that we include intellectual property moving a little away from the property. Needless to say, Singapore has made a mark in this area too. Singapore ranks 8th in the intellectual property index in the world.
- There are also other factors that are relevant to the Property act of Singapore. Leasing, Factoring, Let out and all forms of ways people hold property.
- As of June 2017, some factors believe that this is the right time to make invests in Singapore. As of the reports of 2017, the prices of the housing corporations in Singapore see a fall in the trend, but at the same time, the demand seems touching the peak as always. So the fall of the market is uncertain as long as rules and regulations protect the housing market in Singapore.
Singapore is one of the places where the property market is highly successful. It is one of the predominant factors that cater to the growth of the GDP of the nation as well as the growth of the global economy. But in certain cases, even the best markets have an impact if the global market is in a downward trend. Similarly, the housing markets of Singapore faced fluctuation and expected downward threats along with the global trends.
The common things that all countries were looking at are the reason for the fall of the real estate markets and the means to recover. But if the global market is sick then the chances of quick revival are slim. In case the real estate markets of Singapore aren’t an exception to it.
What are things that a country can possibly do in cases of a downward trend?
Steps for revival!
- When the economy is facing a downward trend, the government will never stay inactive. It will take all possible measures to save the economy and prevent a possible bubble that might appear in the economy.
- A market bubble is an economic phenomenon that is quite common in the housing markets. It is a condition where is unexpected fall in the prices along with rigorous demand. This will curb the supply at a point, leading to insufficiency and this leads to an economic bubble.
- Probably what was happening could have been a bubble that took place at untraceable degrees since most of the global economies took measures to revive at the earliest even before economists could find the possible reason behind the downward trend.
- Singapore is one among the countries that took intensive measures to revive at the earliest. Meanwhile, in the process of recovery, it ranked as one of the topmost countries in various sectors that have something to do with the real estate market. Such is the efficiency of the Singaporean markets.
- Though the downward trend existed for quite a longer time than expected here are some of the factors that still kept the fame of the markets high. The ever-growing demand in the markets of Singapore on the global platform and the contribution that the country saw from the public housing developments are few things that kept the spirits of the market and its participants high.
- However, it is unbelievable that the decline was close to 12% which is pretty much high for a market that is as successful as the real estate markets of Singapore. However, it is an undeniable fact that the government sectors took every step possible and started to micromanage things in order to revive the economy. We hope the steps were steadfast and timely that placed the position of the turning at a reachable point.
- The government instated a lot of plans and policies that kept the primary factors of the market alive. Now that the world economy is getting better, this specific economy has witnessed the light that is at the end of the tunnel. These factors proved that the housing markets of Singapore are still at their best and that the market is ready for an upswing!