A large number of professionals and business owners have their offices, shops and business premises located in the Central business district (CBD) of Singapore. In Singapore, the CBD is located in the core central region. Many business owners and professionals are working long hours at their business premises, so they would like to reduce the time they spend commuting from home to their workplace daily. Orchard road is one of the prime shopping areas in the core central region of Singapore. The area is named after the fruit orchards which were present in the 1830s before the area developed. Some of the factors which property buyers interested in investing in an orchard condo should consider are discussed below.
Pricing
Since Orchard road is a prime area in the core central part of Singapore, there is only a limited amount of land available for the construction of new buildings. Also, it is very conveniently located, close to the main shopping areas, historical areas, and offices. So there is a lot of demand for property in the area. Often the property is freehold so the resale price will be more. Hence the real estate rates in this area are far higher than in most other areas of Singapore. Usually, only wealthy professionals, business owners or investors can afford to purchase orchard condos for living, renting or investing.
Condo size
Most of the people residing on Orchard road are wealthy so they will prefer to live in larger and more spacious houses with their families. Hence the property developers are constructing larger homes, with an area of 1000 square feet or more with two or three bedrooms in each condo. The size of the plot where the condo is constructed in the orchard area is far smaller than plots in other areas. So there are usually a limited number of homes in each condo. Typically a condo will have twenty homes or fewer. Buyers who are interested in purchasing an orchard condo should be aware that the size is larger than most Singapore condos.
Design
Since the per square foot rates for the orchard condos are among the highest in Singapore, the property developers have worked hard to give each condo an exclusive look, hiring the best architects and interior designers. Each condo has a theme and its name is derived from the theme. The condo will have all the features which luxury constructions have like a lawn, garden, grove, swimming pool, children’s play area, club house, jogging track, and gym. Some condos have a bicycle park and an electrical charging area.
Amenities
Though expensive, one of the major advantages of investing in an orchard condo is that it is very conveniently located. The main shopping district in Singapore is in the vicinity. There are plenty of options for dining out and entertainment in the area, so families residing in orchard condos do not have to waste time and money travelling for shopping and dining. There are also a large number of preschools, schools and colleges for families with young children and teenagers. Additionally, some of the most popular clubs in Singapore and Botanic Gardens are located in the area.
