SPRING @ KATONG

Despite the surge in prices of Singapore property in the past 12 months, the prices of apartments of Spring @ Katong have remained relatively stable. This is perhaps due to buyers overlooking this boutique development as they chase prices of the relatively more popular areas in Mountbatten and Telok Kurau.

Based on current market conditions, it seems that Spring@Katong presents a good investment opportunity with it's valuation around $900 psf. Some agents are already marketing units for $950-980 psf and they might have been successful in their sales because I note that these units are no longer available. Not surprising seeing the demand for units here, with neighbourhod residents approaching owners to ask for saleor rental units.

I thankfully have 1 unit for sale now, with details as such:

- 2+1 Bedroom
- Immediate 3.6%rental returns (optional - I've had prospective tenants approach me to rent units here, even before they become available. Hence, I have ready tenants.)
- Ground floor convenience with direct pool access
- 3.5M high ceiling
- Tranquil, with privacy
- Good squarish layout
- Breezy, no afternoon sun
- Wet and dry kitchens
- Beautiful landscape with 30m lap pool (I personally think the pool is underutilized so the owners of this unit could perhaps claim a private pool)
- Good gym facilities
- Covered carpark
- 1 minute walk to Katong Food Paradise
- 8 minutes' covered walkway walk to Parkway Parade
- Easy access to Orchard Road, Suntec City & Raffles Place by bus

Most importantly, there is much room for capital appreciation. Not only because units in nearby developments are already asking for more than $1,000psf, but also because based on recent sales at this development, prices here will increase once caveats are lodged with URA. (Barring any unforeseen circumstances e.g. another Lehman Brothers event).

Give me a call to discuss anytime.