Securing financial support is a crucial aspect when investing in a condo. With various mortgage options available in Singapore, it is important to familiarize oneself with the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan a borrower can take, taking into account their income and current debt commitments. Working closely with financial advisors or mortgage brokers can aid investors in understanding the TDSR and make well-informed decisions regarding their financing options, preventing them from becoming over-reliant on debt. For those considering investing in a Singapore Condo, it is vital to be well-versed in the TDSR to ensure a solid financial foundation for their investment.
aged January 30, 2022.Posted on February 21, 2022A two-bedroom unit at The Esta has become the top-selling private condo with a new psf-price high from February 21 to 28. According to the latest transactions, the freehold development soared to a new record of $2,377 psf when a 1,001 sq ft unit changed hands for $2.38 million on February 26. This seventh-floor unit was originally bought in March 2021 for about $1.83 million, or $1,833 psf, making a profit of approximately $545,000. The Esta’s previous peak price of $2,317 psf was set last year in January, when a 1,346 sq ft, three-bedroom unit on the 13th floor was sold for approximately $3.2 million.Over the past three years, The Esta has seen a steady increase in resale prices. In 2022, the project recorded 10 transactions with an average psf-price of $2,012. The following year, the average price climbed to $2,156 across nine resale transactions. Last year, nine more units were resold at an average price of $2,248 psf, reflecting an 11.7% increase in average resale prices since 2022. By absolute price, the most expensive unit sold at The Esta was a 3,477 sq ft, five-bedroom apartment on the 21st floor, which changed hands for $6.25 million, or $1,798 psf, in October 2021.A two-bedroom unit at The Esta was sold for $2.38 million on Jan 30, setting a new psf-price record of $2,377 for the freehold condo (Picture: Samuel Isaac Chua/)The Esta is a 400-unit development spread across five residential blocks along Amber Gardens. Completed in 2008, this District 15 condo features a range of two- to four-bedroom apartments, from 1,001 sq ft to 1,711 sq ft, as well as penthouses ranging from 2,368 sq ft to 3,477 sq ft. It is within walking distance of Tanjong Katong MRT Station on the Thomson-East Coast Line and is near lifestyle hubs such as Katong Shopping Centre and Katong V.Closely following The Esta, the 99-year leasehold condo D’Leedon took second place for the highest new psf-prices recorded during the review period. This development set a new psf-price record of $2,287 when a 1,421 sq ft, three-bedroom unit on the 29th floor was sold for $3.25 million on February 25. The sale slightly surpassed the purchase price of a smaller 1,367 sq ft, three-bedroom unit, which was sold for $3.04 million, or $2,222 psf, on February 26. Prior to these transactions, the record price at D’Leedon stood at $2,180 psf, achieved by the sale of a 2,110 sq ft, four-bedroom unit for $4.6 million last October.In the first two months of this year, 11 units have been sold at D’Leedon, with an average price of $2,065 psf. The lowest psf-price recorded this year was for a 743 sq ft, one-bedroom apartment on the 10th floor, which sold for $1.41 million ($1,898 psf) on February 13.On Feb 25, a 1,421 sq ft, three-bedroom unit on the 29th floor of D’Leedon sold for $3.25 million, setting a new psf-price record of $2,287 (Picture: Samuel Isaac Chua/)Located in District 10 along Leedon Heights, D’Leedon was completed in 2014. The condo consists of 1,703 units, ranging from one- to four-bedrooms and spanning 592 sq ft to 6,534 sq ft. It is within walking distance of Farrer Road MRT Station on the Circle Line and is close to Empress Road Market and Food Centre.Breaking into the top three is Citylights, which also saw a new psf-price high on February 27 when an 893 sq ft, two-bedroom unit on the 26th floor was sold for $1.98 million, or $2,216 psf. This new record is 4.4% higher than the previous peak of $2,122 psf, set in December last year, when an 872 sq ft, two-bedroom unit on the 16th floor was sold for $1.85 million. The sellers of the 26th-floor unit purchased it for about $1.44 million, or $1,610 psf, in April 2019, making a profit of approximately $542,000.Completed in 2007, Citylights is a 600-unit, 99-year leasehold condo situated along Jellicoe Road in Kallang (Picture: Samuel Isaac Chua/)Conveniently located in District 8, Citylights was completed in 2007 and boasts 600 units. The development offers one- to four-bedroom units ranging from 560 sq ft to 3,875 sq ft. It is just a one-minute walk from Lavender MRT Station and is in close proximity to dining and retail options, including Aperia Mall and Kitchener Complex, both within a 300m radius.There were no new psf-price lows recorded during the period in review.