South Beach Residence, a mixed development, is situated in 38 Beach Road and has up to 190 residential units. All these units are perfect for all family sizes. It ranges from two to five bedrooms, depending on your preference.
It is developed by leading property developers, City Development Limited (CDL). It has an outstanding architectural design and is complete with literally the perfect address. Other than that, it is located quite close to many popular amenities, all of which compliments a city lifestyle and urban living. Public transportation is just a few minutes away from residents’ doorstep, and just a couple of minutes walk away, depending on which transport you take.
The development itself has been constructed on “expensive” land, which has a total estimated worth of up to $1.67 billion. Once the project is complete, the worth thereof will be increased even more, up to $3 billion, translating into exactly how massive and expensive the development’s units will be.
Considering living at South Beach Residence?
Well, you’ll have a few options to choose from, found in both the North and South Towers, forming part of the project’s two residential buildings. The one skyscraper, the North Tower, is 34 stories high, and the South tower, 45 stories high.
The South Tower has a hotel, and the North Tower, a residential building with office spaces. To add to this building’s excitement, there are already two office tenants, including Facebook and Boeing.
South Beach’s Miraculous Charm
Having 34 and 45-story high in the sky apartments, you’ve probably already guessed that you’ll be able to see all the views you’ve ever dreamt of.
To add to the beautiful scenery, you’ll be able to experience it every single day, especially if you choose to live inside the North Tower. Living this high, you’ll experience all of Singapore’s views during every moment of the day.
The two residential and commercial buildings’ biggest attractions, other than its impeccable views and location, are the many amenities, as well as its adventurous surrounds. The South-West view is quite captivating and is located right in front of War Memorial, a very significant heritage landmark for all residents that live in the country. Apart from its stellar views, South Beach is also accompanied by Singapore’s Central Business District, which makes this development a perfect place for all professionals to live.
Suntec city is right opposite the development, serving more than a pinch of excitement for absolutely anyone that loves shopping and like to explore the city life, as opposed to the quiet suburban lifestyle. It also has countless outlets, including bars, grocery stores, restaurants, retail stores, as well as cinemas.
To add to South Beach Residence’s luxury experience, you’ll be over the moon to find that the development itself, additionally has its very own retail stores, along with countless popular restaurants. It is perfect for all those nights where you want to stay close to home, yet also socialize.
Along with many different restaurants, entertainment activities, nature, and views, South Beach Residences is complete with everything you need.
Then and Now
During the year 2014, the leading developer of the project, CDL, declined a big offer worth $26 million, which was made for one of the development’s penthouses, presenting the perfect timing too for the project to launch. The development didn’t sell anything, due to adverse conditions in the market, which were recovered.
This news was recorded and has been reported by the company, Straits Time in the year 2015. Since then, South Beach Residences has been set to launch their units, regardless of the development’s hotel having already commenced business.
South Beach’s office tower has also had tenants move in January 2015, which now only leaves the residential condominiums waiting to be filled with residents.
Prices that have been released in 2011, were quite high, starting at $4,000 PSF which indicates that one-bedroom apartments of 968 sqft, are priced at $3.8 million.
Compared to DUO Residences, in the vicinity of Beach Road/ Bugis whose PSF starts at $1,922 to $2,322, it is quite difficult to evaluate what CDL intends to do next, simply because the luxury residential market hasn’t had the best run in the last few years.
South Beach Residences isn’t a freehold and doesn’t have any residential competition whatsoever, in its direct vicinity. The median rent in Beach Road according to URA, gravitates towards 4.31%, a rate that is expected for properties in this area. However, the high PSF can still countermand a positive rental yield.
The media has reported that there will be additional interest by foreign buyers, which introduces an interest that has been tampered with by the 15% requisite upfront payment.
Without proper cooling measures and adequate policies set in place, making it more difficult for foreign investors to purchase property in Singapore, South Beach Residences could already have been on the market. Sales could also already have moved steadily. Now, the developments are ranging at an average price of $4,000 PSF, along with existing restrictions set in place. It may thus be difficult to sell going forward unless the PSF gets adjusted and reach a more acceptable level.
Since CDL has declared they aren’t in any rush with the sale of their property, nor to launch it, they have stated that they are waiting for market conditions to improve.
South Beach Residences seems perfect on paper and believe it or not, even better when seen with the eye. The design thereof is edgy and modern, which was the intention of the architects and designers who worked together on this residential project.
The development is designed in a sustainable manner, offering countless features and a creative design. It even has a video wall in the lobby, which already sets it apart compared to many other developments across the island.
The project additionally has a canopy, which is designed to capture rainwater, with cells built into it to convert the captured solar energy, turning it into electricity.
Project Name: South Beach Residences
Address: 38 Beach Road, Singapore 189673
Telephone: +65 6387 9196
Opening Hours: 9am – 8pm