Costa Del Sol is one of the popular condominiums that’s close to East Coast Beach. Located off Upper East Coast Road, at Bayshore Road, it comprises seven towers of 906 units. Standing 30 storeys high, it is well known for its undisturbed panoramic views of the sea. Developed by Japura Development Pte Ltd, this property not only has stunning views but also offers convenience when it comes to location and amenities.
4 Reasons to Choose Costa Del Sol 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 Costa Del Sol can go up to $5,100 while the nearby condominiums, The Bayshore is $3,500 and Bayshore Park Condo is $3,700 for the same number of rooms.
This is definitely good news for landlords, 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.
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”.
When there’s more commercial setups, we can expect more job opportunities and demand in housing.
3. Increase in Property Prices
What factors may contribute to these competitive rental and sales rates in and near Costa Del Sol?
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 are buses that can take you to different parts of the island from Bishan to Punggol. 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.
Food options are countless! Local hawker food and fast food can be found at the beach. The bright side about being close to Bedok is that it’s a food paradise, with places like 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).
There are a handful of shopping malls such as Parkway Parade, Siglap Shopping Centre, Katong 112 Shopping Mall, Bedok Mall and Bedok Point. Your weekend plans are complete 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 a seven-minute drive away via car.
Future Developments within the East of Singapore
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”.
Aside from the new train stations, there will be more community spaces, facilities, and fun options at East Coast Park.
Healthcare
You need not worry if you have health concerns as Parkway East Hospital, Changi General Hospital and Bedok Polyclinic are the closest healthcare institutions, located less than 10 minutes away by car.
Education
Costa Del Sol 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
This development is decked with a unique windsurf practice facility, that includes an Olympic pool, diving pool, resort pool, well-equipped gymnasium, jacuzzi, BBQ pits, golf putting green, tennis courts and a clubhouse with a roof terrace.
Costa Del Sol’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. You and your family will definitely enjoy endless days of calmness – from the sound of the waves crashing and the cooling seabreeze.
Is Costa Del Sol the dream family home you’ve been looking for?
Best Mortgage Rate Across All Banks for Costa Del Sol
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 Costa Del Sol
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 Costa Del Sol to comfortably fit your growing family or planning to rent it out to families in the future and the price is at $1,700,000 which is reflective of the market value, your Buyer’s Stamp Duty (BSD) is $52,600.
| 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 $700,000 | 4% | $28,000 |
| BSD Payable | $52,600 | |
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 Costa Del Sol
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 Costa Del Sol
Here’s the ABSD amount you are required to pay if you are an SC:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,700,000 |
|---|---|---|
| If Costa Del Sol is your second residential property | 12% | $204,000 |
| If Costa Del Sol is your third or subsequent residential property | 15% | $255,000 |
ABSD for Singapore Permanent Resident when Buying Costa Del Sol
Here’s the ABSD amount you are required to pay if you are an SPR:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,700,000 |
|---|---|---|
| If Costa Del Sol is your first property | 5% | $85,000 |
| If Costa Del Sol is your second or subsequent residential property | 15% | $255,000 |
ABSD for Foreigners when Buying Costa Del Sol
Here’s the ABSD amount you are required to pay if you are a foreigner:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,700,000 |
|---|---|---|
| Foreigners buying any property | 20% | $340,000 |
Agent Service for Home Buyers at $0 Agent Fee
Our real estate consultants will provide you insights about this new 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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