Written by: Marissa Saini
There are many reasons why Bukit Timah is a highly coveted address among the well-heeled crowd. Home to the last remaining rainforest on the island – Bukit Timah Nature reserve spans a sizable 400 acres – families flock to this pristine neighbourhood for its proximity to nature, exciting cafe scene, wide selection of shopping malls and top-tier schools.
Nestled within this pristine enclave is Mayfair Gardens, a luxury private residential project by Oxley Holdings Limited that generated buzz during its opening weekend when 40% of the units for sale were snapped up. Located just next to King Albert Park MRT and all the exclusive perks Bukit Timah has to offer, here’s why it has the makings of a perfect family home.
4 Reasons to Choose Mayfair Gardens for Your Next Property Investment:
1. Rental Price Increase
We can estimate its monthly rent by exploring nearby condominiums which are closeby. The monthly rental of a three-bedder at The Sterling can go up to $4,400 while KAP Residences fetch a monthly rate of $5,000 for the same number of rooms.
Future landlords and tenants are at an advantage, considering its strategic location and the number of upcoming developments within close proximity mentioned in URA’s Draft Master Plan in Central Region where residents can look forward to more leisure and recreational places.
2. Higher Tenant Demand
In 2019, there are 2% more foreigners which contributed to the private property rental market.
An integrated Bukit Timah Community Building is in the works, consisting of a community club, a revamped market and hawker centre, an indoor sports hall, a community library, and an elderly facility.
Additionally, according to URA’S Draft Master Plan 2019, an integrated transport hub is underway to serve the residents in and around Beauty World. With Mayfair Gardens being in such close proximity, it will surely draw in increased demand from tenants and investors.
3. Increase in Property Prices
What factors may contribute to these competitive rental and sales rates in and near Mayfair Gardens?
Transportation and Accessibility
Mayfair Gardens is located just five minutes away from King Albert Park MRT (Downtown Line), which will connect you to Botanic Gardens station (Circle Line) in just three stops and Orchard station in six stops. You’ll also be located near the future integrated transport hub at Beauty World.
Rather take the car out for a spin? Fortunately, it’s just a five-minute drive to the Pan Island Expressway (PIE) and 12-minute drive to the Ayer Rajah Expressway (AYE).
Future Developments within and near District 21
Exciting new developments are underway in Bukit Timah, according to URA’s Draft Master Plan 2019. Love the old world charm of the Bukit Timah Railway Station? This will be revamped as an enriching gateway to the much buzzed about Rail Corridor.
Residents can also look forward to a fully Integrated Transport Hub, offering bus-rail transfers to streamline your daily commute. Another up-and-coming project that will excite you is the new elevated skypark also known as the Bukit Timah-Rochor Green Walk that will connect the 11km Rail Corridor to the Kallang Riverside Park.
Healthcare is of utmost importance, especially when it comes to our loved ones. This condo development is also surrounded by a wide variety of hospitals, like Concord International Hospital (seven-minute drive), Mount Alvernia Hospital (11-minute drive) and Tan Tock Seng Hospital (15-minute drive).
Mayfair Gardens is poised to be family-friendly with the slew of nearby schools located within 1km of this development such as Methodist Girls’ School and Pei Hwa Presbyterian Primary School. The list of schools doesn’t end there – you’ll also be able to reach Nanyang Girl’s High School, Hwa Chong Institution, National Junior College and National University of Singapore (NUS) in just a few minutes if you’re driving.
4. Perks for Own Stay
Besides having a full-fledged rainforest in your back pocket, the residents of Mayfair Gardens will feel safe knowing they’re guarded 24/7 with a cutting edge biometric smart home system and cook up a storm with quality, renowned appliances from Gaggenau.
Bukit Timah is also teeming with history, offering no shortage of scenic trails that are totally unique to the area such as the kampong life trail (this leads to the former Bukit Timah Railway Station!) and WWII Legacy Trail where the legacy of the Japanese Occupation still linger.
Running errands is also easier than ever before, now that you’re near malls filled with all the retail offerings you could ever need. Take a quick stroll down to Bukit Timah Plaza, Beauty World Centre and Bukit Timah Plaza for a no-frills shopping experience.
There’s no denying the lucrative appeal of the prestigious Bukit Timah address. Immersing oneself in the town’s rich history and cultural capital is just part and parcel of residing in Mayfair Gardens. With its expected TOP scheduled to fall on 31st December 2024, there’s really no better time to make Mayfair Gardens yours.
Fallen head over heels with this property? Invest in Mayfair Gardens today!
Best Mortgage Rate Across All Banks for Mayfair Gardens
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 Mayfair Gardens
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 Mayfair Gardens to comfortably fit your growing family or planning to rent it out to families in the future and the price is at $1,928,000 which is reflective of the market value, your Buyer’s Stamp Duty (BSD) is $61,720.
|Market Value of the Property
|On the first $180k
|On the second $180k
Additional Buyer’s Stamp Duty for Mayfair Gardens
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 Mayfair Gardens
Here’s the ABSD amount you are required to pay if you are an SC:
|ABSD Amount from Price $1,928,000
|If Mayfair Gardens is your second residential property
|If Mayfair Gardens is your third or subsequent residential property
ABSD for Singapore Permanent Resident when Buying Mayfair Gardens
Here’s the ABSD amount you are required to pay if you are an SPR:
|ABSD Amount from Price $1,928,000
|If Mayfair Gardens is your first property
|If Mayfair Gardens is your second or subsequent residential property
ABSD for Foreigners when Buying Mayfair Gardens
Here’s the ABSD amount you are required to pay if you are a foreigner:
|ABSD Amount from Price $1,928,000
|Foreigners buying any property
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.
You can buy your new home with Ohmyhome’s VIP agent service at $0 agent fees!