Written by: Rita Magallona
Geylang, a district with a colourful past, has reinvented itself into a sought-after address for families and professionals. Dozens of historic churches and hawker stalls now blend seamlessly with trendy cafes and modern condominiums.
Right in the middle of this vibrant district is Sims Urban Oasis, a 99-year leasehold condominium at the corner of Sims Road and Aljunied Street. Built by GuocoLand Limited on an old HDB site, this mixed-use development boasts of over a thousand versatile units.
4 Reasons to Choose Sims Urban Oasis for Your Next Property Investment in Singapore:
1. Unit Type and Dual-Key Configuration
There’s a unit for you at Sims Urban Oasis, whether you’re looking for a family home or a lucrative income opportunity. Unit layouts range from one-bedroom flats to spacious lofts and five-bedroom apartments.
Enquire about the dual-key configuration of selected units. This design allows you to have a separate studio or office space within a multi-bedroom suite. It’s an ideal setup for multigenerational families and entrepreneurs. If you’re an investor, you can even have two tenants in your unit, subject to occupancy laws.
2. Higher Tenant Demand
The third quarter of 2019 saw a 2% increase in foreigners coming to live and work in Singapore, which gave a boost to the private property rental market.
Expect Sims Urban Oasis to attract a wide range of prospective renters, both local and foreign. For one thing, the city centre is minutes away via the Aljunied MRT Station or the Pan Island Expressway (15-minute drive). Geylang is a mature neighbourhood, so commercial centres and other amenities are all within walking distance.
3. Rental Price Increase
Singapore’s overall rents for condos in the RCR (Rest of Central Region)increased by 2.9% on a YoY basis as of Q3 2019. This upward trend in rental prices is expected to continue in 2020, thanks to lower vacancy rates this year.
To give you an idea of the rental income for a unit at Sims Urban Oasis, let’s look at similar one-bedders within a kilometre of the property.
- Centra Studios – up to $1,650 as of December 2019
- TRE Residences – up to $2,500 as of December 2019
4. Increase in Property Prices
What factors contribute to competitive rental rates and an increase in property prices in Sims Urban Oasis?
Transportation and Accessibility
Residents will enjoy the laidback lifestyle of the urban fringes combined with unrivaled connectivity to Singapore’s main financial hub. Car owners are blocks away from main thoroughfares like the PIE and KPE (Kallang-Paya Lebar Expressway).
No car? No problem. The Aljunied MRT Station of the East West Line (EWL) is a quick stroll away (5 minutes). From there, you are five stops from Raffles and the Central Business District. The EWL connects you to destinations further east and west.
According to the URA’s 2019 Master Draft Plan, more commercial developments are underway for Paya Lebar Central, Wisma Geylang Serai, and the Kallang Riverside City Centre. This means more employment and entertainment opportunities in the eastern section of the RCR. The upcoming Bidadari Estate to the north will also include a green park. All these are within a 10-minute drive from Sims Urban Oasis.
Leisure and Dining
If you’re an avid shopper, there’s a plethora of retail centres within a 15-minute drive of your condo. You won’t run out of choices, from the world-famous Orchard Shopping Belt, NEX, and Suntec City, to the local Kallang Wave Mall.
Fancy a meal? Food enthusiasts will fall in love with the scrumptious and affordable treats nearby: dim sum, beef noodles, frog porridge…the list goes on and on. The best part? A lot of hawker’s stalls and restaurants in Geylang are open 24/7.
Parents will be glad to know that Geylang Methodist Primary and Secondary School is less than one kilometre away. Other nearby schools include James Cook University, Nexus International School, and Canossa Catholic Primary School.
Perks for Own Stay
Name an amenity, and Sims Urban Oasis probably has it. Its expansive grounds include four swimming pools, outdoor decks, fitness facilities, playgrounds, pavilions, and a jogging trail. The TOP is in 2020 so you still have time to seize this amazing opportunity.
Invest in Sims Urban Oasis today!
Sims Urban Oasis @Aljunied Project Details
|Lease type||99-year leasehold|
Buying your dream home in the heart of an iconic district?
Best Mortgage Rate Across All Banks for Sims Urban Oasis
Talk to our mortgage brokers with over 30 years of experience and get the lowest mortgage rate at 1.95% for Sims Urban Oasis. 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 Sims Urban Oasis
Buyer’s Stamp Duty (BSD) is tax paid on documents signed when you buy or acquire property located in Singapore.
If you plan to buy a one-bedroom unit at Sims Urban Oasis as an investment property, the price is at around $490,800 which is reflective of the market value. Your BSD is $9,324.
|Market Value of the Property||BSD Rate||Calculation|
|On the first $180k||1%||$1,800|
|On the second $180k||2%||$3,600|
Additional Buyer’s Stamp Duty for Sims Urban Oasis
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 Sims Urban Oasis
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 Sims Urban Oasis is your second residential property||12%||$58,896|
|If Sims Urban Oasis is your third or subsequent residential property||15%||$73,620|
ABSD for Singapore Permanent Resident when Buying Sims Urban Oasis
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 Sims Urban Oasis is your first property||5%||$24,540|
|If Sims Urban Oasis is your second or subsequent residential property||15%||$58,896|
ABSD for Foreigners when Buying Sims Urban Oasis
Here’s the ABSD amount you are required to pay if you are a foreigner:
|Property Ownership||ABSD Rate||ABSD Amount from Price $490,800|
|Foreigners buying any property||20%||$98,160|
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