Do you know that the western region is the largest region in Singapore? With Parc Clematis, you’ll be able to own a slice of this coveted region and discover what makes the west truly the best.
Located at the former Park West Condominium amid the en-bloc sale craze, the Parc Clematis is a Singhaiyi Group Development along Jalan Lempeng that takes up a substantial gross land area of 633,639 sq ft and has approximately 1,500 units on offer.
With a wide selection of property types ranging from apartment units, strata terraces, strata corner terraces, and strata bungalows. Prices range from $699,000 for a one-bedroom unit, $1.05 million for a two-bedroom unit, and $1.32 million for a three-bedroom unit.
4 Reasons Why Parc Clematis is the Right Choice for Your Next Property Investment
1. Rental Price Increase
Singapore’s overall rents for condos in the Rest of Central Region (RCR) increased by 2.8% and the country’s rental prices increased on a year-on-year basis as of Q3 2019.
This is definitely good news for landlords, considering the strategic location it’s at which will attract healthy tenant demand from those working at the bustling business parks in the West, namely International Business Park, One-North and Jurong Lake District (JLD).
2. Higher Tenant Demand
In 2019, there are 2% more foreigners which contributed to the private property rental market.
Parc Clemantis is strategically located right next to Jurong Lake District (JLD), hailed as Singapore’s budding CBD. Another exclusive perk of being situated in the West? The JLD also boasts the coveted Kuala Lumpur-Singapore high-speed rail, where there will be a massive influx of commercial and entertainment developments between the two cities, which will result in more job opportunities and thus, high demand in housing.
3. Increase in Property Prices
What factors may contribute to these competitive rental rates and increase in property prices in and near Parc Clematis?
Transportation and Accessibility
To those who commute to work, you’ll love the accessibility that Parc Clematis offers. The condo is just a 14-minute walk to Clementi MRT station as well as the Clementi Bus Interchange. If you’re heading to town, just hop on a train and the East-West line will take you there in just 40 minutes! Alternatively, if you have a car, you’ll be able to get to where you need to go easily via the AYE, PIE and West Coast Highway.
Future Developments in West Region
There are several exciting projects in the pipeline. First and foremost is the Jurong Lake District, which has embraced URA’s Business Improvement District (BID) Programme that aims to boost the vibrancy of a precinct through the private sector and community partners, establishing a lifestyle and business hub that will cement it as Singapore’s second CBD.
Jurong will also welcome the first-ever terminus of the Kuala Lumpur-Singapore High-Speed Rail (HSR) in 2026 which connects the two cities by a swift 90-minute train ride, providing endless regional growth possibilities.
Healthcare
The nearest hospital is the National University Hospital (NUH) which is only 9 minutes by car.
Education
Parents need not ever worry about being too far to the best schools. The West Region boasts a generous selection of acclaimed schools that stretches from primary schools to tertiary schools and even international schools. Nan Hua Primary School, NUS High School of Mathematics and Science, Ngee Ann Polytechnic, National University of Singapore are just some of the top-tier schools you’ll find within the vicinity.
4. Perks for Own Stay
Love spending quality family time? Be prepared to enjoy both relaxing and fun activities on Parc Clematis’ sprawling, approximately 400,000 sq ft of facilities on the property, including a star gazing lawn, aqua therapy pool, pet’s playground and even a scenic sky garden on the 24th storey!
Additionally, as Clementi is a renowned mature estate, you’ll always be minutes away from buzzy neighbourhood malls such as Clementi Mall, Clementi 123 and Vibes @ Clementi.
Have Parc Clematis piqued your interest?
Best Mortgage Rate Across All Banks for Parc Clematis
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 Parc Clematis
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 Parc Clematis to comfortably fit your growing family or planning to rent it out to families in the future and the price is at $1,320,000 which is reflective of the market value, your Buyer’s Stamp Duty (BSD) is $37,400.
| 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 $320,000 | 4% | $12,800 |
| BSD Payable | $37,400 | |
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 Parc Clematis
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 Parc Clematis:
Here’s the ABSD amount you are required to pay if you are an SC:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,320,000 |
|---|---|---|
| If Parc Clematis is your second residential property | 12% | $158,400 |
| If Parc Clematis is your third or subsequent residential property | 15% | $198,000 |
ABSD for Singapore Permanent Resident when Buying Parc Clematis:
Here’s the ABSD amount you are required to pay if you are an SPR:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,320,000 |
|---|---|---|
| If Parc Clematis is your first property | 5% | $66,000 |
| If Parc Clematis is your second or subsequent residential property | 15% | $198,000 |
ABSD for Foreigners when Buying Parc Clematis:
Here’s the ABSD amount you are required to pay if you are a foreigner:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,320,000 |
|---|---|---|
| Foreigners buying any property | 20% | $264,000 |
VIP 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 BSD, ABSD, 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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