FoundOnEdgeProp: Jaw-dropping downtown homes with views

on EdgeProp Residents looking to move to the Downtown Core have plenty of options. Whether they are looking for an investment property or a home to stay, buyers might be able to find something that meets their budget and needs.

Residents of the Downtown Core Planning Area enjoy the convenience of a bustling city and stunning views of Singapore’s CBD skyline. With the partial redevelopment of Marina Square and the upcoming development of Marina South, more people are beginning to call the Downtown Core home. Through EdgeProp, we found many condo units with excellent location features and breathtaking views.

One eye-catching unit is located in Eden Residences Capitol, a 99-year leasehold development along Stamford Road in District 6. It was granted a Temporary Occupation Permit (TOP) in 2016, and in addition to its 39 condo units, also houses retail stores and a renovated theatre. Homeowners can take advantage of its close proximity to City Hall MRT Station, Raffles Hotel, Raffles City, the Esplanade, St. Andrew’s Cathedral, and the Singapore Management University. There is even a penthouse for sale here, with an asking price of approximately $26.1 million ($4,372 psf). This enormous 5,963 sq ft unit contains five bedrooms.

The area of Shenton Way is also experiencing a makeover, as demonstrated by the topping-out ceremony for the IOI Central Boulevard Towers which is slated to receive TOP in 1Q2024. In addition, the Shenton House was recently sold in a collective sale, and the new owner is planning to build Grade A office space and serve-residence. Investing in a condo in Shenton Way now can be advantageous for future returns. There are units for sale such as the penthouse-level one at One Shenton, with an asking price of $33 million ($3,611 psf) for the colossal 9,138-sq ft four bedroom plus study unit that comes with its own private pool.

For buyers on a smaller budget, V on Shenton can be an attractive option. There is currently a penthouse on the market with an asking price of $21 million ($3,795 psf). This generously-sized 5,533 sq ft unit offers four bedrooms.

The Marina South precinct is currently undergoing a transformation as part of URA’s development plans. Two Government Land Sale (GLS) sites have already been tender-launched, and the vibrancy of the area is expected to increase. Residents of the nearby Marina Bay are likely to experience the benefits, and with the launch of multiple new projects, property investors shouldn’t disregard the Marina Bay area. At present, the two major players are Marina One Residences and Marina Bay Residences. Marina One Residences, a 2017 TOP 99-year leasehold project with 1,042 units, is located within 500m of Marina Bay, Downtown and Shenton Way MRT Stations as well as Marina Bay Residences, a 428-unit 2011 TOP 99-year leasehold development.

Residents of the Zion Road Condo can enjoy the convenience of accessing Singapore’s comprehensive bus network. Nearby bus stops located at Zion Road and River Valley Road provide access to a wide variety of destinations within Singapore, including the CBD, Marina Bay and beyond. The bus routes enable residents to reach anywhere in Singapore regardless of their travelling needs.

Right now is a good time to consider purchasing one of the condos in the Marina Bay area with current listings for both developments. For example, the four-bedroom penthouse in Marina One Residences with an asking price of approximately $19.9 million ($2,395 psf), or the more affordable five-bedder in Marina Bay Residences at $19.5 million ($4,355 psf).

Since 2012, the average resale price for 99-year leasehold condos in the Downtown Core Planning Area has grown by 12% to $2,478 psf. This growth does not compare to the 30% price surge of leasehold condos in District 6, which have reached $3,312 psf. By comparison, the average price in District 1 has dropped 5% to $2,000 psf.

Clearly, the Downtown Core offers plenty of options for those who seek a home in the city. With the added convenience of numerous amenities in the vicinity, savvy buyers will surely find a condo that meets their budget and needs.