The Botanic On Lloyd, a freehold condo, made headlines recently by achieving the highest psf-price among private non-landed developments. Located along Lloyd Road in prime District 9, this boutique development has seen little activity with only an average of one transaction per year in the past decade. However, a recent sale of a four-bedroom unit on the second floor, with a size of 2,056 sq ft, set a new record price of $2,493 psf on Jan 7. This surpasses the previous record of $2,339 psf by 6.6%, which was set in October last year when a three-bedroom unit on the fourth floor was sold for $3.5 million.For those who are unfamiliar with The Botanic On Lloyd, it comprises 66 units, of which 60 are apartments and six are townhouses. The units consist of a mix of three- and four-bedroom configurations ranging from 1,485 sq ft to 3,584 sq ft. The townhouses, on the other hand, measure between 4,058 sq ft and 4,446 sq ft, and come with five bedrooms and two private parking lots each.In terms of absolute price, the priciest unit to change hands at The Botanic On Lloyd was a 3,584 sq ft, four-bedroom unit that sold for $6.88 million ($1,919 psf) in January 2022. Spanning 2006, this freehold development is known for its spacious units and prime location, which has been a key factor in driving up its value.In January 2023, one of its neighbouring freehold condo developments, The Cape, also made headlines for achieving the second-highest psf-price among condos that hit a new price high. The boutique project saw a new record of $2,284 psf when a 1,313 sq ft, three-bedroom unit on the 15th floor was sold for $3 million on Jan 10. This surpasses the previous record of $2,265 psf, which was set by a two-bedroom unit on the 16th floor that sold for $3.49 million in November 2012.In terms of absolute price, only one unit was sold last year, which was a 646 sq ft, one-bedroom unit that fetched $1.24 million ($1,920 psf) in 2023. Spanning 76 units, The Cape is known for its prime location along Amber Road in District 15.Coming in third is Tembusu Grand, which recorded a new psf-price low on Jan 11. The record price of this 1,399 sq ft, three-bedroom unit for $3.04 million, or $2,174 psf, surpasses the previous record of $2,193 psf, which was set in November 2024. Tembusu Grand comprises 638 units, which range from one- and two-bedders spanning 527 sq ft to 883 sq ft, to five-bedders from 1,711 sq ft to 2,691 sq ft. It is expected to obtain its Temporary Occupation Permit in 2028.
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Acquiring financing is a crucial element when it comes to investing in a condo. Fortunately, Singapore provides a variety of mortgage choices. However, it is crucial to have an understanding of the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan a borrower can take, taking into consideration their income and existing financial obligations. By familiarizing themselves with the TDSR and seeking guidance from financial advisors or mortgage brokers, investors can make well-informed decisions regarding their financing options and avoid overextending themselves. In addition, keeping an eye out for New Condo Launches can also provide potential opportunities for investors looking to secure financing for their condo investments.