{"id":25533,"date":"2019-05-05T11:50:18","date_gmt":"2019-05-05T03:50:18","guid":{"rendered":"https:\/\/www.99.co\/blog\/singapore\/?p=25533"},"modified":"2022-06-13T17:06:45","modified_gmt":"2022-06-13T09:06:45","slug":"what-to-consider-when-buying-a-home-in-the-cbd","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/what-to-consider-when-buying-a-home-in-the-cbd\/","title":{"rendered":"What to Consider When Buying a Home in the CBD"},"content":{"rendered":"
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Thinking of relocating to the CBD? Can’t blame you there, it’s an exciting place to live in. You’ll have a waterfront view and so many entertainment and retail options, you can live like Carrie Bradshaw.<\/p>\n

But before you rush in to get that city apartment, consider some of these factors first:<\/p>\n

1. Higher Cost<\/h3>\n

Purchasing any kind of property is a major financial commitment, but it’s even more so for centrally-located properties. The CBD is home to the cr\u00e9m\u00e9 de la cr\u00e9m\u00e9 of Singapore’s private properties, including luxury condos, high-end landed houses, and Good Class Bungalows (GCBs).<\/p>\n

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Buying a home located in the CBD is a major financial commitment.<\/figcaption><\/figure>\n

Hence, housing prices are expected to be higher in the CBD.<\/p>\n

An average condo in the CBD can cost $2.57 million, compared to $1.125 million in the OCR. Rental condo units in the CBD can also cost around $4,969 a month, versus $2,474 in the OCR. (You can find more about Singapore’s condo scene in our Q1 2019 quarterly report.)<\/p>\n

You can save significantly more from choosing a property in the OCR than in the CBD, leaving more for your retirement. Plus, you can experience inner-city living in the upcoming Jurong Lake District, the soon-to-be second CBD<\/a>.<\/p>\n

2. Expensive amenities<\/h3>\n

The districts within the CBD are commonly known as the playground of the middle-class and upper echelons of Singapore.<\/p>\n

It’s like the chicken and the egg, which came first? All we know is, having a group of high net-worth individuals can raise the cost of living in an area. As they can afford higher prices, prices naturally go up. Not to mention its close proximity to tourism hubs like Marina Bay Sands (MBS) or Gardens by the Bay.<\/p>\n

Retail options are dominated by branded boutiques like Chanel or Louis Vuitton. Just check out the Orchard shopping belt or MBS.<\/p>\n

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Apart from gaining a beautiful apartment, living in the CBD also offers you the potential of living lavishly.<\/figcaption><\/figure>\n

You have to be prepared for overpriced meals in fancy restaurants, too. Even the lower-end ones tend to hit $30 per head. Even the iced coffees and sandwiches can be over $12, where a kopi peng<\/em> and kaya toast can cost under $5.<\/p>\n

Leisure options within the CBD are mostly limited to tourist attractions offered in Sentosa or MBS. The entry levies to the casinos in both places are increasing, and the upcoming additions to Sentosa’s themed park can raise ticket prices for a time too.<\/p>\n

And if it’s not overpriced, it’s crowded. That’s just sad.<\/p>\n

3. Higher traffic congestion<\/h3>\n

One of the key selling points of living in the CBD is its proximity to workplaces. That’s the ultimate dream, isn’t it? Having a short commute to work means more time to sleep in. But if you work anywhere besides <\/em>the CBD, you’re in for a traffic nightmare.<\/p>\n

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You can expect high traffic congestion in the CBD.<\/figcaption><\/figure>\n

If you’re a car owner, you can expect to sit in traffic on the way to work or home. You can also forget about taking a Grab, especially during peak hour. Not only are such timings brutal on the prices of ride-hailing services (often hitting $30+ from either end of the Singapore to the CBD), it’ll be difficult to get a driver too.<\/p>\n

If you decide on public transport, you’ll find the trains packed and sweaty; and buses are of course mired in traffic.<\/p>\n

4. Distance to nearby schools and family members<\/h3>\n

Ever heard of a couple raising their family in the CBD? No? The reason why it’s so unheard of is simple: the CBD is not an ideal area for children to grow up in.<\/p>\n

A common issue is the…<\/p>\n