Back in 2016 when South Beach Residences TOP and launched its preview, the hyped up Luxury Condominium halted sales and preferred a vacant period to selling off to the hype. Citing reasons, “Sometime in 2014, CDL, South Beach Residences’ developer, turned down an offer of $26 million for one of its penthouses citing imperfect timing to launch the project. It did not wish to sell any unit until market conditions were suitable.”
This quarter of 2018, CDL reannounced plans to put South Beach Residences back to the market, suggesting that the market is right and primed for real estate. This could potentially mean the property outlook is strong for the next few years and while prices are rising, it is a great opportunity to spring into the first wave of purchases before prices skyrocket due to market speculation.
What is South Beach Residences all about?
South Beach is the epitome of the definition of an integrated development. Situated right in the heart of the most happening and busiest district of Singapore, the development will consist of 5 Star Hotel, upscale Grade A Offices, Luxury Retail, Ballrooms, Business Centres and restaurants. South Beach Residences gives the opportunity to own an ultra-luxury residential unit in this mega-development. Jointly developed by City Developments Limited and IOI Group, South Beach is located next to the Esplanade MRT and City Hall MRT and within Downtown.
The Condo itself includes about 500,000 sq feet of office space, 190 apartments, a 654-room hotel, about 37,000 sq ft of retail space and a 29,000 sq ft private club. You can guess why it attracted an excited crowd especially investors from around the region. Everyone wants to get a foot into this prime condominium since its becoming of an integrated resort-like development like the previously acclaimed Marina Bay Sands.
Property boom in 2018
Previously mentioned, we expect the real estate market to go nuts in 2018. This is in line with what we observe thus far: More and more new condo launches with up to 6,000 residential units up for grabs in Singapore. “This year, 18 private residential projects with an estimated 6,000 units were launched for sale, says Ong Teck Hui, JLL national director of research. He foresees about 20 projects being launched next year, yielding 8,000 to 9,000 units. Ong’s forecast for new home sales in 2018 is 11,000 to 12,000 units.” Up from 11,000 projected sales in 2017, this is roughly an 8.3% increase in projected sales. In fact, there has been a 38% increase in sales as we moved from April to May. No wonder South Beach Residences has always been ready for this moment – they wanted prospect buyers who are able to an ultra-luxury development like this!
What makes South Beach Residences so attractive?
Being an all-integrated mega development (the 29,000 sqft private club makes it crazy alone!), here are the main reasons why South Beach Residences is so attractive:
- Iconic Architecture
- Surrounded by Iconic Buildings and Monuments
- Ultimate Convenience – Dining, Retails, Drinking, Clubbing under 1 Development
- Access 3 MRT Lines via underground walkways
- Spectacular Views
- Destination in its own right
- Truly the “One-In-A-Million” Development, made for the wealthy
To quote from the developer:
“Fine craftsmanship. Thoughtful finishing. South Beach Residences caters to the most discerning. Each unit is furnished with quality appliances and fittings from leading international brands such as Miele, Duravit and Keuco, infusing every unit with a sense of modernity and timelessness. Exquisitely designed, these homes set the benchmark for urban luxury.”
Since South Beach Residences is developed beside the CBD, the site itself is fantastic. Get views of the sea, Singapore CBD skyline and the Marina Bay reservoir area all under 1 roof with a good bird’s eye view of the city landscape. Furthermore, the condo is rich in heritage too – The south-west face will open onto the War Memorial Park which houses the Civilian War Memorial monument. This is one of Singapore’s most famous heritage landmarks (completed and unveiled in 1967). It is highly unlikely this site will ever be redeveloped anywhere in the near future. Beyond that is the Padang and Esplanade Park which are open greenery space. This will probably be where the prime stacks will be facing as this frontage offers the best-unbridled view of the CBD skyline and the Marina Bay area.
A Luxury Development alongside Positive Real Estate Outlook
In Mathematics, you learn that two positives create a greater output. And here’s the situation developing for South Beach Residences. On one hand, a highly reputable development with incredible amenities, prime location, and one of the best views in the city. On the other hand, a property outlook that looks like it’s ready to charge into a bullish movement anytime. Which is why we think that South Beach Residences is set to boom for 2018.
In case you were wondering, the unit sizes are atypical of Singapore housing – they are fairly huge (Of course with a greater price to pay):
Unit types:
- 88, 2-bedrooms (968 – 1647 sqft)
- 61, 3-bedrooms (1,733 – 2,260 sqft)
- 35, 4-bedrooms (2,282 – 2,627 sqft)
- 3, 3-bedroom penthouse (3,581 – 5,048 sqft)
- 2, 4-bedroom penthouse (4,127 – 5,629 sqft)
- 1, 5-bedroom penthouse (5,768 sqft)
The current prices psf are not officially released yet, and we advise interested buyers to contact us to get an early preview during the relaunch, together with any E-brochures disbursement.
How the surrounding area – South Beach Avenue – makes the development even better
Enough about the Condo, let us take a quick dive into what makes the area so special.
South Beach Residences is located right at 38 Beach Road, surrounding South Beach Avenue. South Beach Avenue spans 32,000 sqft located within the basement, street level and conservation heritage buildings, South Beach Avenue has attracted many crowds from the Civic District. With direct connections to Esplanade MRT station and City Hall MRT interchange, many can now seamlessly enjoy convenient access to dining establishments and drinking experiences in South Beach Avenues’ expansive and generous spaces and exquisite.
For the foodie, South Beach Singapore is home to 16 dining and lifestyle concepts, including more than 10 restaurants, cafes and drinking places. You’ll never get to miss a day without a drink or two (Or a good night out!)
So be ready to enjoy your lifestyle when you finally decide to be a resident of South Beach Residences!
Finally, how to find out more about South Beach Residences?
Learn more about the project details and the Condo itself when you visit our main page at https://southbeachresidences-official.sg. For those who want to get a more personalized touch and an experienced consultant to understand and help you plan for the best suitable units for your purchase, then simply drop us an enquiry email at here.
References:
Recent Comments