Sitting on a lucrative site, Stirling Residences made headlines before its inception when the property’s developers Logan Property and Nanshan Group submitted a bid of a staggering $1 billion for the site under the Government Land Sales (GLS) programme.
Located along (surprise, surprise) Stirling Road, this luxurious condominium sits on a sprawling 230,000 sq ft of land and boasts lucrative views of Sentosa, all for the price tag of around $848,000 for a one-bedroom apartment, $1.1 million for a two-bedroom apartment and $1,845,000 for a three-bedroom apartment and $2,333,000 for a four-bedroom apartment.
Whether you’re thinking of investing or buying for own stay, Stirling Residences will surely impress.
4 Reasons Why Stirling Residences 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 in 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.
On top of it’s proximity to Jurong business parks, Stirling Residences will surely attract the attention of executives who want to live conveniently close to their work place. Located near to Tanjong Pagar, the condo easily connects residents to the Central Business District (CBD) as well as Jurong, which is a gateway to business hubs in the West, namely Fusionopolis, Metropolis and Mapletree Busienss City.
3. Increase in Property Prices
What factors may contribute to these competitive property prices in and near Stirling Residences?
Transportation and Accessibility
Stirling Residences definitely takes the cake in terms of accessibility as the condo is only a three-minute walk from Queenstown MRT. If you want to take your car out for a spin, the condo is conveniently connected to AYE and PIE, major expressways that will take you quickly to where you need to go.
Future Developments in Queenstown
One of the most exciting developments within Queenstown is one-north, the cutting-edge business hub which will welcome more projects to spur job opportunities such as Lucasfilm’s Sandcrawler at Fusionopolis, a new office building at Buona Vista named The Metropolis and Mediacorp’s new headquarters at Mediapolis will call this region home as well.
Healthcare
Leave your worries at the door, Stirling Residences’ nearest hospital is the National University Hospital (NUH), a mere 6-minute drive from the property.
Education
Ideal for both foreign and local families with children, expect to find a diverse array of schools like Fairfield Methodist Primary School, Queenstown Secondary School, and Global Indian International School.
4. Perks for Own Stay
Designed to be your tranquil escape from the hustle and bustle, you and your family will be able to spend quality time at the property’s three forest-themed zones and at the 50m infinity lap pool. Prefer to lounge by the water? You can do so at the many cantilevered pavilions scattered across the property.
Feeling like taking the kids out for a fun day of shopping? You’ll find malls like Ikea Alexandra, Anchorpoint Shopping Mall and Dawson Place within comfortable walking distance. Check out our Queenstown guide here.
With the wealth of perks this development provides from its proximity to thriving business hubs, Queenstown MRT, major expressways, neighbourhood malls and more, Stirling Residences is poised for investors looking to buy and rent out the unit or for families with children who will surely enjoy the abundance of recreational facilities within the property.
Are you sold on the limitless potential of Stirling Residences?
Best Mortgage Rate Across All Banks for Stirling Residences
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 Stirling Residences
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 Stirling Residences to comfortably fit your growing family or planning to rent it out to families in the future and the price is at $1,845,000 which is reflective of the market value, your BSD is $58,400.
| 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 $845,000 | 4% | $33,800 |
| BSD Payable | $58,400 | |
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 Stirling Residences
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:
1.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 Stirling Residences
Here’s the ABSD amount you are required to pay if you are an SC:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,845,000 |
|---|---|---|
| If Stirling Residences is your second residential property | 12% | $221,400 |
| If Stirling Residences is your third or subsequent residential property | 15% | $276,750 |
ABSD for Singapore Permanent Resident when Buying Stirling Residences
Here’s the ABSD amount you are required to pay if you are an SPR:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,845,000 |
|---|---|---|
| If Stirling Residences is your first property | 5% | $92,250 |
| If Stirling Residences is your second or subsequent residential property | 15% | $276,750 |
ABSD for Foreigners when Buying Stirling Residences
Here’s the ABSD amount you are required to pay if you are a foreigner:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,845,000 |
|---|---|---|
| If Stirling Residences is your first property | 20% | $369,000 |
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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Source: Straits Times
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