With its prime location, DUO Residences is hitting all the high notes to the tune of an average $1. 994 psf. And bringing along with it, tons of potential investors to the Bugis area. Already 87% of its 660 units have been sold since its launch earlier this month.
Its completion is targeted for 2017, just three years away from now, and with the Central Business District (CBD) and Orchard Road shopping belt just a few MRT or bus stops away, it joins the ranks of properties in the fringes of the city centre commanding high prices. At the 360-unit Concourse Skyline for example, prices hovered between $ 2, 279 to $ 2, 830 psf. This is close at the heels of the top-selling mixed-use development, Southbank on North Bridge Road.
If you have travelled past the Bugis and Rochor areas of late, you would have noticed the major changes in the landscape, both horizontally and vertically, as it prepares itself for the new Downtown Line MRT stations and new residential and commercial properties. Rental potential is incredibly promising as there are not yet as many completed condominiums or private properties available in the area as compared to other city fringe districts. With its heritage and other artistic and entertainment centres nearby, not to mention schools such as the Nanyang Academy of Fine Arts and School of the Arts, the Bugis area seems set to be abuzz with activity.
Besides the usual Novena, Newton and Geylang city fringe districts, Bugis seems to be hitting the bulls eye with investors. Are you ready to grab a piece of the pie? What other considerations should you be weighing?