Here are the housing projects (i.e. condominiums) with the highest AMX. Most of them are not expensive, i.e. benchmark price less than $1000 psf. They are located in the central area.
Project name AMX BMP
Thye Shan Mansion 99 $572
Craig Place 93 $957
Pearl Bank Apt 91 $590
Abacus Plaza 85
Compass Heights 85 $531
Min Yuan Apt 84 $800
People's Park Complex 82 $688
Novena Suites 82 $1172
Grand Tower 81 $679
Burlington Square 80
Why does Thye San Mansion, located in Tanjong Pagar, have a high AMX? It is close to 3 MRT stations, 1 bus interchange, 2 community centers, 3 medical centers, 1 secondary school and 9 shopping malls. And it has a benchmark price of only $572 psf.
Find out more at www.easysearch.sg (Real Estate Data)
Buy TSM !
ReplyDeleteMr Tan, you need to consider leasehold too. Pearl Bank Apt may be cheaper than some of the central HDB flats but it is fast approaching the 60 years "cut off" for bank loans/CPF withdrawal.
ReplyDeleteOtherwise, great resource you have there!
Pearl Bank is an aging 99 leasehold apt unit. Ditto for People's Park Complex. No facilities either (e.g. no pool, gym etc)
ReplyDeletethe risk is higher with leasehold approaching 99 yrs. On legal aspect, u dun own any appt after 99 yrs later, ie worthless if there's no potential enc-block. thats something one have to consider when buying such property.
ReplyDeleteThe RED portal gives other indicators that you should view, namely
ReplyDeletea) year completed
b) tenure
I do not have some of the details. If you know them, please provide them into the Feedback tab and I will update them.
A few years ago a landed bungalow was sold for $500K+.
ReplyDeleteThe catch? It is a leasehold for 60 years!
If you do a Google on "Pearl Bank" and "haunted" you will get something interesting.
ReplyDeleteLeasehold properties (with less than 60 years) are much cheaper than freehold properties.
ReplyDeleteFor those who wish to look at the investment angle, there is the potential for enbloc sales, which can give a high capital gain (if successful).
However, the RED portal is intended to give relevant information, so that buyers and sellers can make their decision. It does not intend to recommend any project for investment.
The availability of nearby amenities is an important factor in the quality of life. I hope that the AMX (amenity index) is useful. However, even the AMX needs to be fined tuned to improve its usefulness.
I will try to build a feature in the RED portal for property owners of old properties, especially those on short leaseholds, to indicate their interest in joining an enbloc sale.
ReplyDeletewww.easysearch.sg (Real Estate Data)
The Amenities Index measures the amenities within 1 km. The amenities add value to the property. Many people are willing to pay more for nearness to the MRT station, shopping mall or good schools.
ReplyDeleteThe other factors affecting the price are tenure (freehold or leasehold) and the age and quality of the building.
The RED website gives these information conveniently to owners, buyers and tenants. But, you will also need to make a physical inspection and get advice from a property expert, before you commit to buy or sell a transaction of $1 million or more.