Bayshore Park is one of Singapore’s most popular developments along the island’s Upper East Coast Road. Located on Bayshore Road in District 16, Bayshore Park has, to date, broken the record for the highest transacted price (S$3.2 million) for a unit within the country’s Outside Core Region (OCR).
With this in mind, what makes Bayshore Park attractive to investors and homeowners alike? Simply put; its versatility to cater to different groups of people ranging from families to working professionals.
Here’s Why Bayshore Park Makes A Great Home:
1. Specifications
| Property Name | Tenure | TOP | Unit Type (up to) | Size in sqft (up to) | Average Price PSF (up to) |
|---|---|---|---|---|---|
| Bayshore Park | 99-year leasehold | 1982 | 2-bedder + 2 bathrooms 4-bedder + 4 bathrooms | 936 2,195 | $1,239 |
Whether you’re a bachelor, a couple or a family with children, there’s bound to be a unit suited for you. Bayshore Park offers one- to five-bedder units. The number of bathrooms varies for different units – some three-bedder units come with 2 bathrooms while others come with 3 bathrooms. If you’re planning on investing in a unit for recurring income, getting one with the same number of bedrooms and bathrooms would be ideal.
Let’s find out more about rental. Renting Bayshore Park’s 3-bedroom unit can cost up to S$3,700 which is quite affordable when backed against Costa Del Sol’s S$5,100 for the same number or rooms. This is definitely good news for tenants and buyers, considering the upcoming developments mentioned in URA’s 2019 Draft Master Plan that is within close proximity, such as the two new Thomson-East Coast Line stations, walking paths and cycling networks.
2. Perks for Own Stay
Everything you need is right at your doorstep. Bayshore Park is a veritable mini-town complete with a supermarket, cafeteria, sauna, Balinese hut, basketball court, futsal court, playground, 1.8-kilometer jogging track, two gymnasiums and swimming pools, three squash courts, seven tennis courts and BBQ pits.
3. Amenities and Healthcare
If you love the beach, you can easily reach East Coast Park in five minutes via two underpasses. For those who love to golf, Laguna National Golf & Country Club is a mere seven minutes drive from the development.
Your dining and shopping experience is seamless with a shuttle service, specially catered for Bayshore Park residents, to three malls – Parkway Parade, Katong 112 Shopping Mall and Changi City Point. For more options, you can head over to other nearby malls such as Siglap Shopping Centre, Bedok Mall and Bedok Point.
You can find many types of eateries along Katong. If you’re spending the whole day at the beach, there are local hawker food and fast food restaurants too. Travel a little more to Bedok and you’ll find yourself in a food paradise, with the famous Bedok Interchange Hawker Centre and Simpang Bedok. There are plenty of popular cafes for you cafe lovers out there like Penny University, Forty Hands East Coast and Stamping Ground Coffee to name a few.
When it comes to health concerns, you need not worry as Parkway East Hospital, Changi General Hospital and Bedok Polyclinic are located less than 10 minutes away by car.
4. Transportation and Accessibility
Currently, there are no train stations within walking distance of the development, but plans for Siglap and Bayshore MRT stations are underway and will be operational in 2024. Despite this, there is a five-minute shuttle bus service to Bedok MRT Station. If you’re driving, the closest expressway is East Coast Parkway (ECP) where you’re able to go to places such as Changi Airport (11-minute drive), Central Business District (22-minute drive), Orchard Road (24-minute drive) and more, easily.
5. Education
The development makes a great place to live for local and international families with children as there are plenty of schools within the surrounding area. These include preschools as well as primary and secondary schools namely 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 present in the area.
6. Future Developments within and near District 16
According to Urban Redevelopment Authority (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”. Aside from the new train stations, there will be more community spaces, facilities, and fun options at East Coast Park.
Other future plans include the development of Terminal 5 (estimated date of completion 2030), where you can conveniently travel to via Thomson-East Coast Line (TEL) in future and the relocation of Paya Lebar Airbase to make room for “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 for housing.
Bayshore Park is an ideal choice for any local or foreign bachelor, couple or family with children. Its strategic location hits the spot for both students and working professionals, along with shoppers and diners. The array of amenities found within and around the property makes it both a great home and investment.
Is this the house you’ve been looking for? Contact our friendly customer care team at 6886 9009 now!
Best Mortgage Rate Across All Banks for Bayshore Park
Talk to our mortgage brokers with over 30 years of experience and get the lowest mortgage rate at 1.78%. 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 Bayshore Park
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 with three bathrooms at Bayshore Park to comfortably fit your growing family or planning to rent it out to families in the future and the price is at $1,088,000 which is reflective of the market value, your Buyer’s Stamp Duty (BSD) is $28,120.
| 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 $88,000 | 4% | $3,520 |
| BSD Payable | $28,120 | |
Source: IRAS
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Additional Buyer’s Stamp Duty for Bayshore Park
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 Bayshore Park
Here’s the ABSD amount you are required to pay if you are an SC:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,088,000 |
|---|---|---|
| If Bayshore Park is your second residential property | 12% | $130,560 |
| If Bayshore Park is your third or subsequent residential property | 15% | $163,200 |
ABSD for Singapore Permanent Resident when Buying Bayshore Park
Here’s the ABSD amount you are required to pay if you are an SPR:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,088,000 |
|---|---|---|
| If Bayshore Park is your first property | 5% | $54,400 |
| If Bayshore Park is your second or subsequent residential property | 15% | $163,200 |
ABSD for Foreigners when Buying Bayshore Park
Here’s the ABSD amount you are required to pay if you are a foreigner:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,088,000 |
|---|---|---|
| Foreigners buying any property | 20% | $217,600 |
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