Parc Clematis, Tiara and Dormer Park set new psf-price highs during the week of July 11 to 18Parc Clematis in Singapore topped the list of private non-landed properties to reach a new psf-price peak during the week of July 11 to 18. The new psf-price high of $2,575 involved the resale of a 1,044 sq ft, three-bedroom unit on the 19th floor for $2.69 million on July 14, surpassing the development’s previous high of $2,490. Located along Jalan Lempeng in Clementi, Parc Clematis is a 99-year leasehold mega condo development with 1,450 units. It offers a mix of one-bedroom units to five-bedroom penthouses ranging from 452 sq ft to 2,669 sq ft. With top schools within a 1.5km radius and an average price of $2,153 psf, it’s no surprise that Parc Clematis has seen 48 transactions as of July 18.Meanwhile, the sale of a 1,346 sq ft unit at Tiara, a freehold condo along Kim Seng Walk in prime District 9, was next on the list of condo deals that resulted in a new psf-price high. The three-bedroom unit on the third floor was sold for $3.3 million on July 18, setting a new psf-price record of $2,453 for the development. Completed in 1995, Tiara offers a mix of two- and three-bedroom units and is located within 500m of Great World MRT Station.On July 17, Dormer Park, a freehold development comprising 92 residential units, also saw a new high with the sale of a 1,238 sq ft two-bedroom unit for $2.7 million ($2,181 psf). The transacted price surpasses the development’s previous high of $2,079 psf that came with the sale of a 2,465 sq ft, four-bedroom unit for around $5.13 million on June 16. Dormer Park is located along Jervois Road and its average resale prices in the last 12 months stand at about $2,045 psf. It is among a cluster of high-end condos within the Bishopsgate-Chatsworth Good Class Bungalow enclave.Overall, these record-breaking transactions in Parc Clematis, Tiara and Dormer Park demonstrate the strong demand for prime properties that offer convenience and a quality lifestyle. With top schools, amenities and transport links in the vicinity, these developments continue to attract buyers and command premium prices.
Securing financing is an important component of investing in a condo. In Singapore, there are various mortgage choices available, yet it is crucial to note the Total Debt Servicing Ratio (TDSR) system. This framework sets a limit on the loan amount a borrower can acquire, taking into account their income and current debt responsibilities. Being well-informed about the TDSR and collaborating with financial experts or mortgage brokers can assist investors in making wise choices about their financing alternatives and preventing excessive borrowing. Condo is a valuable addition to an investment portfolio and understanding the TDSR is key to financing it correctly.