Conclusion of Mori Condo evaluation - Investment perspective
One of Mori's main attractions is its location in the Rest of the Central Area (RCR) and on the edge of the Central Business District (CBD). Therefore, it will enjoy potential rental demand from a large number of existing tenants. Furthermore, from a pricing perspective, rents will be more competitive when compared to rents in the Core Central Area (CCR). However, it is equally easily accessible due to its proximity to two MRT stations that take tenants directly to the City Center areas of Singapore.
Therefore, for those looking for investment, Mori Condo would be an attractive proposition, as can be seen from the average rental yields of nearby properties. Such rental yields are among the highest in Singapore. By comparison, the average rental yield for properties on Orchard Road is in the low to mid 2% range!
Other attractive features of Mori Residences are its proximity to popular schools and a wide range of amenities including shopping centres, exciting dining and entertainment options. This makes it a very family-friendly development where most of life's necessities are easily accessible.
In the long term, the transformation of the Kallang and Kampong Bugis rivers under the URA Master Plan will enhance the vibrancy of these two areas and their surrounding areas. This will of course improve the quality of life while helping to increase property values. While Mori's pricing has yet to be announced, it is likely similar to Bartley Vue, a recent RCR property that launched in early September from $1.7xx psf. This can be considered an attractive point with the recent sharp increase in land prices.
In a nutshell, the Lentor Central site was recently sold for $1,204 psf/ppr under a government land sale. This figure is even higher than Ang Mo Kio's $1,188 psf/ppr which was sold in June. With such land prices, projects will likely sell for close to $2,000/m2 when they hit the market. . Note that these two locations are located in OCR (Outside Central Region) on 99-year lease, Mori will offer an attractive purchase!
As a result, homebuyers will have the opportunity to purchase properties based on the “COLD” land price before the recent spike in land prices. If you require development updates or to explore other real estate investment options, please Email or WhatsApp us.
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