Always dreamed of a home in the city where unforgettable memories are created? New Futura may be the answer to that dream. Developed by City Development Limited, this freehold condominium in District 09 located in Leonie Hill Road has been making dreams come true for many. Still not convinced? Half of its 124 units were sold during the first month of its launch including its penthouses that were going for $39.8m each.
Its freehold status, strategic location and the fact that its designed by an internationally renowned architectural firm, Skidmore, Owings & Merrill, are just some of the reasons why this development has attracted both local and foreign buyers.
3 Reasons to Choose New Futura for Your Next Property Investment:
1. Rental Price Increase
Singapore’s overall rents for condos in the Core of Central Region (CCR) increased by 4% and the country’s rental prices increased on a year-on-year basis as of Q3 2019.
In 2019, there are 2% more foreigners which contributed to the private property rental market.
The monthly rental of a 3-bedroom apartment in New Futura can go up to $14,400 while the nearby condominiums, OUE Twin Peaks is $10,800 and Leonie Hill Residences is $5,600 for the same number of rooms. This is definitely good news for landlords, considering the number of upcoming developments within proximity such as ‘The Lifestyle Destination’ and ‘Bring Back the Orchard’ plans by STB, URA, NParks, and the Land Transport Authority.
2. Increase in Property Prices
What factors may contribute to the competitive property prices in and near New Futura?
Transportation and Accessibility
It’s a seven-minute walk to get to Orchard MRT Station and a six-minute walk to the upcoming Great World MRT Station. If your office is in the Central Business District (CBD), you’d be delighted to know that it’s easily a nine-minute drive away via the Central Expressway (CTE) and Clemenceau Avenue.
Future Developments in and near Orchard
Future mixed-use developments will be built along the upcoming Thomson-East Coast Line where Orchard Boulevard and Orchard MRT station is, making it well connected to Orchard Road through side streets to bring more people and add buzz and vibrancy to the precinct. Future elevated link bridges will make it easier for visitors to cross the junction of Orchard-Paterson Roads, as well as provide opportunities for a picturesque shot of Orchard Road.
Lawrence Wong, Minister for National Development, announced the CBD Incentive Scheme at the launch of the Draft Master Plan 2019. There will also be a new Dover Knowledge District, a mixed-use site that is meant to be an extension to one-north, suited to technology companies, as they prefer a more campus-like environment. The old Pasir Panjang Power District will be turned into the Greater Southern Waterfront, a heritage and lifestyle hub. All these places are less than 20 minutes away from New Futura.
Healthcare
If you have a medical emergency that requires immediate attention, fret not. Good clinics and hospitals such as Raffles Medical and Mount Elizabeth Hospital are less than 10 minutes away by car.
Education
Foreign families with children would be delighted to know that there are plenty of international educational institutions within the vicinity, such as ISS International Elementary School, Chatsworth International School, River Valley Primary School, Overseas Family School, Swedish Supplementary Education School.
3. Perks for Own Stay
New Futura has six themed sky terraces dedicated to bringing you holistic wellness that will rejuvenate you from head to toe. They are Fitness Terrace (where the gymnasium is), Sky Serenity (where you can find inner peace at the yoga and meditation decks), Sky Sense (where you can curl up with a good book at the reading corner and creative garden), Sky Aqua (where the lap pool and pool deck are), Sky Bliss (where you can unwind at the spa pool and tea veranda) and the Sky Indulgence located at the top floor of each tower where there are a social lounge and epicure dining.
A 10-minute walk over to Orchard Road will bring you to a fancy food and shopping paradise – the string of popular malls found there are ION Orchard Mall, Ngee Ann City, Paragon Shopping Centre, Mandarin Gallery, Orchard Central, 313@Somerset, Wisma Atria and many more.
In the mood for chilling out? Take a short drive (all locations are located less than 10 minutes away) and visit these cool spots that are perfect for evening hangouts, such as Dempsey Hill, Tiong Bahru, Ann Siang Road, Keong Saik Road and Telok Ayer Street.
Change things up and embrace the outdoors at Mount Faber, Singapore Botanical Gardens and Gardens by the Bay. They are also about a 10-minute drive away from the property.
New Futura’s units range from two to four-bedrooms and penthouses, making it an ideal choice for expats or individuals working in the CBD, and small or big families with children. Located centrally, you can get to any place in Singapore via public or personal transport quite easily. It is for those who enjoy and love the exclusiveness and luxury of that sought-after city life.
Enchanted by this property? Invest in New Futura today!
Best Mortgage Rate Across All Banks for New Futura
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 New Futura
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 New Futura to comfortably fit your growing family or planning to rent it out to families in the future and the price is at $6,600,000 which is reflective of the market value, your Buyer’s Stamp Duty (BSD) is $248,600.
| 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 $5,600,000 | 4% | $224,000 |
| BSD Payable | $248,600 | |
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 New Futura
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 New Futura
Here’s the ABSD amount you are required to pay if you are an SC:
| Property Ownership | ABSD Rate | ABSD Amount from Price $6,600,000 |
|---|---|---|
| If New Futura is your second residential property | 12% | $792,000 |
| If New Futura is your third or subsequent residential property | 15% | $990,000 |
ABSD for Singapore Permanent Resident when Buying New Futura
Here’s the ABSD amount you are required to pay if you are an SPR:
| Property Ownership | ABSD Rate | ABSD Amount from Price $6,600,000 |
|---|---|---|
| If New Futura is your first property | 5% | $330,000 |
| If New Futura is your second or subsequent residential property | 15% | $990,000 |
ABSD for Foreigners when Buying New Futura
Here’s the ABSD amount you are required to pay if you are a foreigner:
Property Ownership
ABSD Rate
ABSD Amount from Price $6,600,000
Foreigners buying any property
20%
$1,320,000
| Property Ownership | ABSD Rate | ABSD Amount from Price $6,600,000 |
|---|---|---|
| Foreigners buying any property | 20% | $1,320,000 |
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!
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