Straits Times – Private home prices jump by 3.1% in first quarter of 2018
One of the hottest markets for the real state right now it’s Singapore. After resisting a lot of turmoil and a slump that affected their economy for nearly four years, the country is poised to make a big comeback.
One of the first signs of the recovering economy is the number of real estate projects being developed across the nation. Most of them backed by foreign investors willing to trust the economic growth experienced over the last year.
Just in 2018 over the last 6 months, the market has experienced an increase in sales, with numbers that show an improvement over the yearly figures of the last 8 years according to Singapore’s Urban Redevelopment Authority.
|Developer||Oxley-Lian Beng Venture Pte Ltd|
|Developer license no.||C1253|
|Location/Address||Hougang Avenue 7|
|Tenure of Land||99-Year Leasehold from 31 May 2018|
|Site Area||36,811.1 sqm|
|Vacant Possession: 31 Dec 2024
Legal Completion: 31 Dec 2027
|Description of building||9 BLKS OF 17-STY APTS & 21 UNITS OF STRATA LANDED HOUSES (TOTAL:1472 UNITS), 6 SHOPS WITH 2 BASEMENTS CARPARKS, LANDSCAPE DECK & COMMUNAL FACILITIES. MK22 ON LOT
09693T HOUGANG AVENUE 7(HOUGANG PLANNING AREA)
|No. Of Car Park Lots||B1 – 589 (inclusive of Retail – 2 & Private Carpark for Strata Terrace – 21) B2 – 885
Handicap – 9
|Number of Lifts||Residential Tower – 24 (inclusive of 2 private lift) Clubhouses & Drop-off – 3|
The number of properties negotiated each month has increased at a steady pace, with nearly 800 units being sold each passing month of the year. International banking corporations such as HSBC Holdings, The Bank of China, JP Morgan, and the Bank of America have already stated that Singapore’s economy has a chance of a 10% recovery before year’s end.
If you are looking to invest in a property in a nation that is poised to become one of the leading economies in the world you can take a look at the Riverfront Residences at Hougang Avenue. The residential project is offering affordable housing solutions with high end finishes at great prices.
Experts on real estate investment will be able to tell you how great this new project is just by taking a look at it. The condo complex is located in the development formerly known as Rio Casa, and it is being built by the jointed Oxley-Lian Beng business venture partnership.
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The Amenities Found near The Riverfront Residences
The Riverfront Residences is being developed with a mindset on offering as much comfort as possible to their tenants and inhabitants, and as such, on top of the high-quality options for education and transportation, the project is really close to the best options on the area for health care, shopping, and entertainment.
The Sengkang General Hospital is a specialist clinic and the closest hospital to the community. They offer attention 24 hours a day on the 7 days of the week. Getting there takes no more than a five-minute drive from the Riverfront Residence.
If you are craving entertainment, there are a number of shopping malls very close to the project that offers various forms of entertainment. The Hougang mall is the top choice, but there is also the Hartland mall located at Kovan, the Compass One in Sengkang and other assorted shopping locations near Paris Ris such as Ikea, Giant Hypermart, Seven Eleven and White Sands.
The Riverfront Residences is so close to such a variety of business outlets that all the shopping needs of the residents can be easily covered without needing to leave a further area of 2 to 3 blocks from the project. Even the complex necessities such as medicine or payment of basic services can be handled in the shopping malls.
The Kovan area is a perennial favorite for young people, students or grunt workers since if offer a number of eateries that work from early hours in the morning to late hours at night. Residents can have a meal in any of the establishments by well-known franchises or local businesses efforts that are doing their best to compete in an open market.
There are also a good number of amenities related to outdoor entertainment available for the residents of Riverfront Residences. Sports enthusiasts can enjoy the benefits of training at the Hougang Stadium since the complex offers swimming installations and a complete sports hall for a wide number of physician practices.
But even with the easy access to these well-known sports facilities most of the residents of the project just need to take a short walk near the Hougang Avenue Park #5, since it’s where the Serangoon park connection is located and brings access to the Serangoon River. In this location, joggers can go to the Punggol riverside walk of the Punggol waterway to swim.
Let’s take a look at some of these amenities near the Riverfront Residences.
Cold Storage Greenwich, one of the many business outlets where residents can do their grocery shopping.
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The current prices being offered by the Riverfront Residences sales team have a range that begins at $575,000 for a single bedroom unit to $2,000,000 for a 5-Bedroom apartment.
The current calculated cost of each square feet of construction is placed at $1,700, subject to increase due to demand. Vacant possession for the project will be declared in December of 2024, legal completion of it will be on December of 2027.
For a complete rundown on the information on the pricing of each unit, you can reach them through their sales hotline phone number: 9792-1567 where you can book an appointment to view their show flat at your convenience.
Also read: Property Taxes in Singapore