7 Condos from $1 Million for Property Investors to Check Out (2024)

Buying a home in Singapore is much more than just a property purchase. Residential property can also be an investment that will bear fruit in years to come.

If you plan to buy an investment property soon and want to stand a chance of winning up to $50,000 when you buy a home, you should consider joining The Grand Property Quest. And we have seven condos you can check out

Win Up to $50,000 When You Secure Your Dream Home Via The Grand Property Quest

From now to 31 January 2024, complete one of our two The Grand Property Quest routes, buy a property, and stand to win our $50,000 grand prize. Each The Grand Property Quest route includes a list of three to four condo viewings.

There is also a second prize of $10,888 and a third prize of $8,888 to be won. Additionally, if you are one of the first 10 property buyers, you’ll win a bonus prize of $500. Find out more by visiting The Grand Property Quest website to learn how you can participate.

7 Condos to Buy in Singapore: The Grand Property Quest

Here are the per sq ft (PSF) prices of the participating condos, as taken from listings on the PropertyGuru website (accurate as of 30 October 2023).

1. Terra Hill

This freehold condo is located just a five-minute walk away from Pasir Panjang MRT station and close to the West Coast Highway. It consists of nine five-storey blocks.

It enjoys an excellent location that connects quickly and easily to the city centre via MRT or the West Coast Highway. It is also located relatively close to scenic areas like the Labrador Nature Reserve, Southern Ridges, Henderson Waves as well as West Coast Park, making it a draw for nature lovers and investors or tenants who work in the Kent Ridge area.

Based on all available Terra Hill units for sale on PropertyGuru, prices start at $1,620,000 for a 2-bedroom unit. Find out more about Terra Hill on PropertyGuru.

2. Pinetree Hill

The 99-year leasehold condo is located about a 15-minute walk from Dover MRT station.

One of the key draws of Pinetree Hill is its proximity to popular schools such as Anglo-Chinese School (Independent), Anglo-Chinese Junior College, Fairfield Methodist School, School of Science & Technology Singapore, INSEAD and ESSEC. It also offers easy access to food hotspots such as Holland Village and Ghim Moh Market.

Based on all available Pinetree Hill units for sale on PropertyGuru, prices start at $1,067,000 for a 2-bedroom unit. Find out more about Pinetree Hill on PropertyGuru.

3. Grand Dunman

Grand Dunman is a 99-year leasehold condo that is considered a “mega launch”, as it is the only new launch in 2023 with more than 1,000 units. About 10,000 people flocked to the showrooms on the launch weekend, during which more than 520 units were sold.

The condo enjoys an attractive city fringe location about two minutes’ walk from Dakota MRT station, a short distance from the Geylang and Kallang areas. It is also located near popular schools Chung Cheng High School (Main), Tanjong Katong Girls’ School and Kong Hwa School.

Based on all available Grand Dunman units for sale on PropertyGuru, prices start at $968,000 for a 1-bedroom unit. Find out more about Grand Dunman on PropertyGuru.

4. Orchard Sophia

Orchard Sophia is a freehold condo in the heart of the city, consisting of just 78 units on 7 floors, is located about 11 minutes’ walk from Dhoby Ghaut MRT station, 12 minutes’ walk from Bencoolen MRT station, and 14 minutes’ walk from Rochor MRT station.

Orchard Sophia has a highly central location very near Plaza Singapura and the Orchard Road shopping belt, as well as Little India, Bugis and Fort Canning, making it ideal for those who want to live on prime land in the city centre.

Based on all available Orchard Sophia units for sale on PropertyGuru, prices start at $1,200,000 for a 1-bedroom unit. Find out more about Orchard Sophia on PropertyGuru.

5. Klimt Cairnhill

Launched once during the pandemic, freehold condo Klimt Cairnhill was relaunched on 3 January 2023. The development consists of 138 units.

Located about eight minutes’ walk from Newton MRT station, Klimt Cairnhill is within easy walking distance of Scotts Road and the Orchard Road shopping belt, making it attractive for investors who wish to capitalise on its extremely central location.

Based on all available Klimt Cairnhill units for sale on PropertyGuru, prices start at $2,350,000 for a 2-bedroom unit. Find out more about Klimt Cairnhill on PropertyGuru.

6. 19 Nassim

The 99-year leasehold condo is located about 12 minutes’ walk from Napier MRT station, a stone’s throw from Gleneagles Hospital and the Botanic Gardens. 19 Nassim is at the confluence of the Orchard and Bukit Timah areas, making it ideal for those who are looking for a home in a central location while enjoying easy access to the schools along the Bukit Timah belt.

Based on all available 19 Nassim units for sale on PropertyGuru, prices start at $1,968,000 for a 1-bedroom unit. Find out more about 19 Nassim on PropertyGuru.

7. Parksuites

110-year leasehold condo Parksuites is located a stone’s throw from the popular Henry Park Primary School, about 17 minutes’ walk from Dover MRT station.

The development consists of just 119 units and offers easy access to amenities in the area such as F&B hotspot Holland Village and the Rail Corridor. It is also near popular schools in the Dover area such as Anglo-Chinese School (Independent), Anglo-Chinese Junior College and Fairfield Methodist School.

Based on all available Parksuites units for sale on PropertyGuru, prices start at $1,380,000 for a 1-bedroom unit. Find out more about Parksuites on PropertyGuru.

Are Singapore Property Investors Going Ahead with Their Purchases?

Until recently, property prices in Singapore were growing rapidly, but this growth is now showing signs of slowing. According to the latest URA Q3 2023 Real Estate Statistics, private property prices increased 0.8% in Q3 2023, after a 0.2% dip in Q2 2023. This quarterly increase was much smaller than the average 2.1% quarter-on-quarter increase across 2022.

Transaction volumes have similarly dipped. Following the April 2023 property cooling measures, which saw the Additional Buyer’s Stamp Duty (ABSD) rates adjusted, foreign buyers and investors have retreated from the market. The elevated interest rates also have made the cost of acquiring property more expensive.

However, according to the PropertyGuru Singapore Consumer Sentiment Study H2 2023, the number of private homeowners who do not intend to sell their current property but wish to buy another property has remained largely unchanged. In fact, among local homeowners who identify as investors, demand for buying another investment had actually risen.

So why is this happening? Dr Tan Tee Khoon, Country Manager – Singapore, PropertyGuru comments that among investors, property taxes are perceived as “part of the ancillary costs in residential property ownership.”

“Even ABSD for multiple residential property owners is viewed as a one-time transaction cost which property seekers have to weigh in the larger scheme of property ownership, rental income, and capital appreciation. Alternatively, they could consider commercial property investments which do not attract ABSD or Seller’s Stamp Duty (SSD).”

These findings indicate a growing optimism and could be a sign that the time is right to invest in property in Singapore once again. In spite of higher ABSD prices, more buyers are confident that they will still be able to make decent investment gains.

So, if you’re an investor (or a potential investor) and are interested in entering the market, the next question you’ll probably ask is “How do I choose a good condo for investment?”

How Do I Choose a Good Condo for Investment?

A good investment property is one that is likely to enjoy high demand and good resale potential in the future. In general, good investment condos tend to enjoy an attractive location. A central location, being within walking distance of an MRT station and the presence of popular amenities is usually a good indication of resale potential.

Typically, investors have various goals when engaging in property investment in Singapore. The first is to enjoy capital gains when the value of the property rises over time. If the owner sells the property at a higher price than they bought it for, they will be able to potentially make a profit.

Another goal of certain investors is to earn rental income from property investment in Singapore. In order to earn long-term rental income, you must usually either purchase a second or subsequent investment property or rent out rooms in your home.

Your goal as an investor will inform the type of property you buy. But what is most important is being able to finance your property without overstretching yourself financially. If you need home financing advice, you can reach out to our friendly Mortgage Experts. They can also help you with choosing which mortgage to take and guide you through the paperwork, all at no cost.

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