Overview Rating
Overall, One Pearl Bank shines in several factors that make it a good investment opportunity, especially its proximity to amenities and potential rental yield.
Tenure
One Pearl Bank is sold under a 99-year leasehold tenure, which means that it will revert back to the government once the lease expires. This may affect its resale value in the future for potential buyers who prefer freehold properties. However, considering it’s located in a prime area, the leasehold tenure does not significantly impact its value for now.
Amenities
One Pearl Bank is situated in District 3 close to Outram Park MRT station and within walking distance of Chinatown. There are several primary schools within a 2-km radius, as well as nearby shopping centers and supermarkets.
Future Development
Although there are no significant URA plans for future development in the immediate vicinity, One Pearl Bank’s location in a prime area is desirable enough to attract investors’ attention.
Sale PSF Price
The launch price per square foot (PSF) for One Pearl Bank ranges from $2,251 PSF to $2,502 PSF depending on unit types. This falls within the average PSF prices for condos in Core Central Region (CCR).
Resale Potential
Given its prime location and unique architecture that preserves an iconic building’s design element, there is good potential for resale value appreciation over time, especially if surrounding developments continue to flourish as they have lately in the area.
Rental Yield
With its location next to Outram Park MRT station and other amenities nearby, One Pearl Bank would likely yield good rental returns over time – especially when compared with other properties across Singapore.
One Pearl Bank is a new condominium development located in District 3 of Singapore at 1 Pearl Bank, Singapore 169016. Developed by CapitaLand, the former iconic Pearl Bank Apartment site will house 774 units in total and will be completed by December 2023. One Pearl Bank comprises two residential towers, each with 39 stories, that are connected via sky bridges at the roof of each tower.
Location:
The condo’s location is one of its main highlights. Situated next to Outram Park MRT station, residents will find it extremely convenient to get around various regions in Singapore as the station is an interchange between the East-West MRT line and the North-East MRT line. By 2021, the new Thomson-East Coast MRT line will intersect at Outram Park MRT station via northern and eastern regions of Singapore.
It offers commuters a direct route to the southern core central like Shenton Way, Marina Bay, and even Gardens by the Bay. One Pearl Bank is situated within the Central Area of Singapore near Chinatown where there are various restaurants and trendy lounges for social gatherings with friends. The location has close proximity to CBD and Marina Bay.
Units:
One Pearl Bank comprises 774 units ranging from studio apartments to penthouses. All residential units will be ready-move-in condition which includes fully integrated kitchens, curtains, air-conditioning, cabinets, partial lighting setup inclusive of Smart Mirror display systems that act as displays for managing visitors into their private compounds.
Price:
The price point for One Pearl Bank was quoted based on its initial launch by CapitaLand on July 17th, 2019. The entry price for a studio apartment starts from $970,000 (or $2,251 psf) while a Penthouses unit ranges from S$ 2,273 – S$ 3,009 psf / average S$ 2,641 psf.
Conclusion:
To summarize this review article on One Pearl Bank Development; With its prime location within the Central Area of Singapore, the condo offers a great investment opportunity for homebuyers and investors looking for exclusivity, privacy, and convenience. The units’ interior design is practical, functional, and attractive, complemented by the surrounding amenities nearby. The price point is competitive compared to similar properties in the area. Therefore it is an excellent investment opportunity for those who would like to have a home in the central area of Singapore with beautiful views of the city.
