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The Alps Residences @ Tampines: A Swiss-Inspired Haven for Outdoor Enthusiasts

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Written by: Rita Magallona

Are you looking for a relaxing haven and a convenient launchpad for recreational activities? Look no further than The Alps Residences in Tampines. Its cascading roof terraces and alpine décor evoke the rugged beauty of the Swiss mountains.

Developed by MCC Land, this private residential project is a short drive away from Changi Airport and Bedok Reservoir. It’s no wonder that one-bedroom units in The Alps Residences are already sold out. Larger units with two, three, and four bedrooms are also being snapped up by eager investors.

What makes The Alps Residences such a tantalizing investment opportunity?

4 Reasons to Choose The Alps Residences for Your Next Property Investment:

1. Rental Price Increase

Singapore’s overall rents for condos in the Outside Central Region increased by 2.9% while the country’s rental rates increased on a YoY basis as of Q3 2019.

To give you a ballpark figure of the potential rental income, one-bedroom units near The Alps Residences (within 600m) can fetch the following prices:

  • The Santorini Condo (500-600 sqft): up to $1,900 December 2019
  • Q Bay Residences (500-600 sqft): up to $2,000 December 2019

2. Higher Tenant Demand

The last quarter of 2019 saw a 2% increase in foreigners coming to live and work in Singapore, which gave a boost to the private property rental market. Given this influx of foreign workers, international students, and their dependants, it’s no wonder there’s an upswing in the private residential property price index.

The Alps Residences is expected to be a top choice for foreign renters, given its proximity to Singapore Changi Airport and Changi Business Park, a vital financial hub in the East Region. Within 15 minutes, you can get on an international flight from the world’s highest-ranked airport.

United World College of South East Asia (East Campus) is also a few blocks away from The Alps Residences, opening up the possibility of rentals by international students and teaching staff.

3. Gross Rental Yield

If you plan to rent out your condo, expect a 2.4% gross rental yield. This rate is similar to those in East Asia, with 2.35% for Hong Kong and 2.66% for Japan.

How did we get 2.4%?

(Gross rental income for 12 months/ purchase price of the property) x 100= gross rental yield.

Calculating the Gross Rental Yield for The Alps Residences

A one-bedroom unit at The Alps Residences starts at $900,000 and the average monthly rental contract of The Santorini Condo (400m away from The Alps Residences via Tampines Street) averages at $1,800 per month. You can compare the rental rates for one-bedroom properties in the area using Ohmyhome.

Gross Rental Income of $1,800 x 12 months= $21,600/purchase price at $900,000= 0.024*100= 2.4%

4. Increase in Property Prices

What factors contribute to competitive rental rates and an increase in property prices in The Alps Residences?

Transportation and Accessibility

If you fancy a hike, it takes about 20 minutes to walk to Tampines West MRT Station (Downtown MRT Line). Residents can also drive (5 minutes) or take a shuttle bus from the property to this MRT station. Another option is Bedok Reservoir MRT Station, a 7-minute drive away.

From Tampines West MRT Station, you are four stations away from the eastern terminus at Expo MRT Station. This interchange allows you to travel directly to Changi Airport MRT Station, a spur on the East West Line.

Car owners can reach the Serangoon area within half an hour via the Pan Island Expressway (PIE).

Future Developments

Transportation is a priority in the East Region, with five more stations planned for the Cross Island Line within the decade. By 2024, the upcoming Thomas-East Coast Line will make it easier to reach coastal areas like Bayshore from Tampines.

Education

Parents can take their pick from several prestigious schools offering primary to tertiary levels. Nearby educational institutions include Saint Hilda’s Primary and Secondary School, Poi Ching School, Overseas Family School, Temasek Polytechnic, and United World College of South East Asia (East Campus).

Recreation

Residents are a stone’s throw away from Tampines Quarry, a former sand quarry turned freshwater lake that serves as an unofficial park for the neighbourhood.

In the mood for water sports? No need to go to the beach; just head to Bedok Reservoir for canoeing, sailing, kayaking, wakeboarding, and fishing. Other amenities include parks, jogging and biking trails, and treetop ziplines.

alps-residences-tampines-swiss-inspired-haven-outdoor-enthusiasts-swimming-pool

If you prefer the indoors, you can always visit Our Tampines Central (5-minute drive). This mixed-use complex boasts of six swimming pools, an immense playground, a football and rugby stadium, the Tampines Regional Library, and a Public Services Centre.

Leisure and Dining

Tampines Mall and Century Square offer a diverse range of retail and dining options. For even more shopping choices, hop over to IKEA Tampines, Courts Megastore, and Giant Hypermart. These retail centres are all within a 10-minute drive.

Perks for Own Stay

Entertaining is a breeze, thanks to barbecue pavilions and function rooms that can accommodate up to 15 persons. These amenities were designed with security and accessibility in mind. The function rooms connect directly to basement lifts, while the pavilions are located near side entrances.

If you’re a biking enthusiast, you’re in luck. The property has over a hundred bicycle lots for residents and visitors. By 2022, you can ride your bike on the 21-kilometer Tampines Cycling Paths. Residents can also stay fit without leaving the premises. The complex features a 50m lap swimming pool, gym, yoga deck, and tennis court.

alps-residences-tampines-swiss-inspired-haven-outdoor-enthusiasts-mother-child-bikes

You don’t have to wait long to get your dream property, as the TOP (Temporary Occupancy Permit) is in June 2020. Invest in The Alps Residences today!

The Alps Residences @Tampines Project Details

Developers MCC Land (Tampines) Pte Ltd
TOP 2020
Price S$1,800 psf
Lease type 99-year leasehold
Location District 18

Buying your dream home in the East?

Best Mortgage Rate Across All Banks for The Alps Residences

Talk to our mortgage brokers with over 30 years of experience and get the lowest mortgage rate at 1.95% for The Alps Residences. Our home loan specialists will assist you with everything you need to know from Total Debt Servicing Ratio (TDSR), Loan to Value (LTV) Limits and Legal Conveyancing.

Buyer’s Stamp Duty for The Alps Residences

Buyer’s Stamp Duty (BSD) is tax paid on documents signed when you buy or acquire property located in Singapore.

If you plan to buy a one-bedroom unit at The Alps Residences as an investment property, the price is at around $900,000 which is reflective of the market value, your BSD is $21,600.

Market Value of the Property BSD Rate Calculation
On the first $180k 1% $1,800
On the second $180k 2% $3,600
Remaining $540,000 3% $16,200
BSD Payable $21,600

Source: IRAS

Looking at another unit size? Use Ohmyhome’s In-app BSD calculator for faster calculation! Download Ohmyhome from the Play Store or App Store now!

Additional Buyer’s Stamp Duty for The Alps Residences

Liable property buyers in Singapore are required to pay Additional Buyer’s Stamp Duty (ABSD) on top of the existing BSD. ABSD and BSD are computed on the purchase price as stated in the dutiable document or the market value of the property (whichever is the higher amount).

Who is liable to pay ABSD:

  1. Singapore Citizen (SC) buying second, third and subsequent residential property
  2. Singapore Permanent Resident (SPR) buying first, second and subsequent residential property
  3. Foreigners or entities buying any residential property

ABSD for Singapore Citizens when Buying The Alps Residences

Here’s the ABSD amount you are required to pay if you are an SC:

Property Ownership ABSD Rate ABSD Amount from Price $900,000
If The Alps Residences is your second residential property 12% $108,000
If The Alps Residences is your third or subsequent residential property 15% $135,000

ABSD for Singapore Permanent Resident when Buying The Alps Residences

Here’s the ABSD amount you are required to pay if you are an SPR:

Property Ownership ABSD Rate ABSD Amount from Price $900,000
If The Alps Residences is your first property 5% $45,000
If The Alps Residences is your second or subsequent residential property 15% $135,000

ABSD for Foreigners when Buying The Alps Residences

Here’s the ABSD amount you are required to pay if you are a foreigner:

Property Ownership ABSD Rate ABSD Amount from Price $900,000
Foreigners buying any property 20% $180,000

VIP Service for Buyers at $0 Agent Fees

Our real estate consultants will provide you insights about this new project and assist you with everything you need to know from BSD, ABSD, exercising the OTP to sealing the deal.

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