If you have never heard of The Bayshore (which is unlikely), it is one of the popular condominiums in the east side of Singapore. This international award-winning development located along Upper East Coast Road and Bayshore Road is known for its luxurious tropical resort setting and wide range of excellent amenities.
Developed by Far East Organization, The Bayshore located in District 16, is located at a decently convenient spot where you can get to the airport in nine minutes and the city in 19 minutes via a vehicle.
4 Reasons to Choose The Bayshore for Your Next Property Investment:
1. Rental Price Increase
Singapore’s overall rents for condos in the Outside Central Region (OCR) increased by 2.9% and the country’s rental prices increased on a year-on-year basis as of Q3 2019.
The monthly rental of a three-bedroom apartment in The Bayshore can go up to $3,500 while the nearby condominiums, Costa Del Sol is $5,100 and Bayshore Park Condo is $3,700 for the same number of rooms. This is definitely good news for tenants and buyers, considering the upcoming developments within close proximity such as the two new Thomson-East Coast Line stations, walking paths and cycling networks.
2. Higher Tenant Demand
In 2019, there are 2% more foreigners which contributed to the private property rental market.
According to URA in TODAY, “The proposals for Bayshore precinct shall thus capitalise on the existing greenery and transport connections to create an attractive living environment, with emphasis on environmental sustainability, car-lite strategies and a strong sense of community”.
3. Increase in Property Prices
What factors may contribute to these competitive rental and sales rates in and near The Bayshore?
Transportation and Accessibility
Although there are no nearby train stations yet (Siglap and Bayshore MRT stations of the Thomson-East Coast Line, will be completed in 2024), there’s a five-minute shuttle bus service to Bedok MRT Station. If you’re on the road, the closest expressway is East Coast Parkway (ECP) where you’re able to go to places such as the Central Business District, Changi Airport, Orchard Road and more, easily.
Future Developments within the East of Singapore
Aside from the new train stations, there will be more community spaces, facilities, and fun options at East Coast Park. Also, with future plans like the development of Terminal 5 (estimated date of completion 2030) where there will be a station on the Thomson-East Coast Line (TEL) and the relocation of Paya Lebar Airbase where there will be “new homes, new offices, new factories, new parks, new living environments, new communities”.
So when there are more commercial setups, there would be more job opportunities and higher demand in housing.
Healthcare
Parkway East Hospital, Changi General Hospital and Bedok Polyclinic are the closest healthcare institutions, taking less than 10 minutes by car.
Education
The Bayshore makes a great home for local and foreign families with children as there are plenty of schools nearby. They are preschools, primary and secondary schools such as Alphabet Playhouse @ East Coast, Good Shepherd Convent Kindergarten, Temasek Primary and Secondary School, Victoria School. International schools (Rosemount International School and Sekolah Indonesia) are also in the area.
4. Perks for Own Stay
The Bayshore is fully equipped with a swimming pool, tennis court, jacuzzi pool, BBQ pits, driving range, children’s playground, fitness corners, a two-storey clubhouse, multi-purpose hall, games room, gymnasium, aerobics room, saunas and reading room.
The beach is like your backyard with East Coast Beach being just a five-minute walk away via a covered underground tunnel. If you’re an avid golfer, Laguna National Golf & Country Club is seven minutes drive away via car. There are a handful of shopping malls such as Parkway Parade, Siglap Shopping Centre, Katong 112 Shopping Mall, Bedok Mall and Bedok Point.
You won’t have to worry about food options as they are countless. You can find local hawker food and fast food at the beach. Bedok is also known for being a food paradise with the famous Bedok Interchange Hawker Centre, Bedok 85 Market and Simpang Bedok. Good news for cafe lovers too as there are plenty of popular cafes for your next cafe-hopping sesh such as Penny University, Forty Hands East Coast, Stamping Ground Coffee and Craftsmen Specialty Coffee (Siglap).
The Bayshore’s units range from two to four-bedrooms, making it an ideal choice for any local or foreign family with children who are in preschool, primary or secondary education level. Guaranteed to give you peace and quiet, along with ample supply of cooling seabreeze, life at the Bayshore is a sought-after idyllic tropical escape your family will love.
Has The Bayshore piqued your interest?
Best Mortgage Rate Across All Banks for The Bayshore
Talk to our mortgage brokers with over 30 years of experience and get the lowest mortgage rate at 1.95%. 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 Bayshore
Buyer’s Stamp Duty (BSD) is tax paid on documents signed when you buy or acquire property located in Singapore.
If you opt to buy a three-bedroom unit at The Bayshore to comfortably fit your growing family or planning to rent it out to families in the future and the price is at $1,180,550 which is reflective of the market value, your Buyer’s Stamp Duty (BSD) is $31,822.
| Market Value of the Property | BSD Rate | Calculation |
|---|---|---|
| On the first $180k | 1% | $1,800 |
| On the second $180k | 2% | $3,600 |
| Next $640,000 | 3% | $19,200 |
| Remaining $180,550 | 4% | $7,222 |
| BSD Payable | $31,822 | |
Source: IRAS
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Additional Buyer’s Stamp Duty for The Bayshore
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:
- Singapore Citizen (SC) buying second, third and subsequent residential property
- Singapore Permanent Resident (SPR) buying first, second and subsequent residential property
- Foreigners or entities buying any residential property
ABSD for Singapore Citizens when Buying The Bayshore
Here’s the ABSD amount you are required to pay if you are an SC:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,180,550 |
|---|---|---|
| If The Bayshore is your second residential property | 12% | $141,666 |
| If The Bayshore is your third or subsequent residential property | 15% | $177,083 |
ABSD for Singapore Permanent Resident when Buying The Bayshore
Here’s the ABSD amount you are required to pay if you are an SPR:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,180,550 |
|---|---|---|
| If The Bayshore is your first property | 5% | $59,028 |
| If The Bayshore is your second or subsequent residential property | 15% | $177,083 |
ABSD for Foreigners when Buying The Bayshore
Here’s the ABSD amount you are required to pay if you are a foreigner:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,180,550 |
|---|---|---|
| Foreigners buying any property | 20% | $236,110 |
Agent Service for Home Buyers at $0 Agent Fee
Our real estate consultants will provide you insights about this new launch project and assist you with everything you need to know from Buyer’s Stamp Duty, Additional Buyer’s Stamp Duty, exercising the OTP to sealing the deal.
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