In early October, to the surprise of the market, the government suddenly announced a round of housing cooling measures. Among them, the lower limit of the medium-term interest rate for home loans was raised by 0.5%, and the loan-to-valuation ratio (LTV) was lowered from 85% to 80%, while the LTV for home loans from private financial institutions was maintained at 75%.
A number of banks in Singapore also announced in the middle of the year that they were raising their mortgage rates!
As you can see by looking at the rate chart below, UOB UOB announced that the APR for its three-year fixed-rate package has been raised to 3.75% from the previous 2.8%. And HSBC said that the interest rate for its two-year fixed rate package was raised to 4.25%.
With the high interest rates, it seems not too "smart" to buy a house at this time.
In addition, the price of 99-year condominiums in non-Central District is also high.
For example, the average price of AMO Residence in Ang Mo Kio will be close to S$2,400 per square foot. Lentor modern, the largest private landless residential project, is going to top S$2,500 per square foot.
With prices soaring in the suburbs, it's time to turn your attention to those "treasures" in the core Central District's older affluent areas. There is one such hot freehold condominium - Perfect Ten condominium!
Located in the prime area of Bukit Timah, the freehold condominium is the "jewel of the prime area".
The "jewel in the crown" - Perfect Ten Apartments
Bukit Timah is located in the northern part of Orchard and Tanglin, extending west to Upper Bukit Timah and Clementi Road, east to Newton MRT station and south to Holland Road, which is recognized as a prime area.
Perfect Ten condominiums are located in the heart of this prime area in the 10th postal district, which is a great starting point.
1) Subway Stevens and Newton subway stations are just a few steps away, and King Albert and Sixth Avenue subway stations are very close.
2) Public Transportation This location is connected to numerous bus services throughout the island and is surrounded by the Pan-Island Expressway (PIE) and the Central Expressway (CTE). Both residents who rely on public transportation and car owners can enjoy a quick commute.
In addition to the prime location, Perfect Ten condominiums are surrounded by amenities!
It is very close to the Orchard shopping belt, financial district, Balmoral Plaza project and Newton Food Centre, which provides a one-click solution to shopping, dining and entertainment needs.
Bukit Timah Nature Reserve and Singapore Botanic Gardens are also close by, making it a comfortable place for family picnics and walks during vacations.
The area is also home to some of the most prestigious schools from primary to tertiary education: Nanyang Primary School; Chatsworth International School; St. Joseph's Institution, Junior; St. Joseph's Institution; Anglo Chinese School; Singpore Chinese Girl's School; Raffles Girls School; National University of Singapore Bukit Timah Campus, NUS, etc.
