In summary, opting to invest in a Singapore condo comes with a range of benefits, including its high demand, potential for increasing in value, and attractive rental yields. However, it is crucial to carefully evaluate various factors like location, financing options, government regulations, and market conditions. Through extensive research and seeking guidance from professionals, investors can make well-informed choices and maximize their returns in Singapore’s ever-evolving real estate market. Whether a local investor aiming to broaden their portfolio or a foreign buyer in search of a secure and profitable investment, Singapore condos are undoubtedly a compelling opportunity. For more information, visit Singapore Condo.
A prime corner unit at Lucky Plaza shopping mall situated on Orchard Road is now available for purchase through private treaty. This freehold property, spanning 8,848 sq ft, is being marketed exclusively by JLL and is the third largest unit within Lucky Plaza. Located on the sixth floor, the unit has a tentative price of $32 million (approximately $3,617 psf based on its strata area).
The unit boasts direct lift and escalator access and is currently leased out to two separate retail operators. It will be sold with its existing tenancies, making it an attractive investment opportunity. Foreigners and entities are eligible to purchase the property without incurring additional buyer’s stamp duty or seller’s stamp duty.
Terry Wong, JLL senior director of capital markets, notes that there are only three units of this size above 8,000 sq ft within the entire development, and they are seldom available for sale. The unit’s spacious layout and wide frontage present the possibility for the future owner to subdivide the space further.
Built in 1978, Lucky Plaza is a 30-storey mixed-use development comprising 22 storeys of apartments and a six-storey retail podium including a basement. It has underground access to Orchard MRT Station on the North-South and Thomson-East Coast Lines.
According to data from EdgeProp Buddy, the most recent commercial transaction at Lucky Plaza was the sale of a 172 sq ft basement unit in April for $1.39 million (approximately $8,064 psf). In March, a 312 sq ft unit on the third floor was sold for $2.4 million ($7,688 psf). Interested parties can use the Buddy tool to view the latest listings and compare price trends of commercial and industrial properties in the area. It also provides information on condo rental transactions in District 9 and sale transactions at Lucky Plaza.