Updated: Aug 31, 2021
Singapore's property market is looking hot. So is CanningHill Piers!
While most of us are feeling the heat from cabin fever in the past year or so, the real heat is in Singapore’s property market as private home prices are up for the fifth straight quarter (Q2 2021) since the circuit breaker last year. An interesting phenomenon is that properties in Singapore remained resilient during this difficult time. Emboldened by this outlook, we hope for better days ahead – with the pandemic soon to become endemic, Singapore is on track to reach its target of having 2/3 of its population fully vaccinated and ease restrictions for international travel. These factors are already giving both local and foreign investors comfort and motivation to capitalise on the momentum to acquire assets here.
CanningHill Piers is an upcoming high end integrated development that is located along River Valley Road, within the Clarke Quay area and walking distance of Fort Canning Hill.
Well loved by expats, partygoers and tourists, Clarke Quay is dubbed as an expat enclave that draws locals and foreigners to its bustling night scene and touristic spots (which is not happening at the moment, unfortunately). It may be quiet right now, but we are hopeful that nightlife entertainment will be restored by 2024 i.e. its expected TOP. Of course, Clarke Quay is more than just its vibrant night scene. There is a mix of past and present, which continues to draw locals and tourists alike. This is how CanningHill Piers can ace in this area and achieve high strategic investment potential.
Interestingly, River Valley’s prestige reputation is not built overnight. In fact, it can be traced back to the 1800s, when wealthy Eurasian and Chinese merchants favoured the area for its sprawling grounds because the city was crowded. Today, the area becomes home to Singapore’s upper-middle to high income segment.
About the development
Sitting on 12,925.4 sqm (139,128 sqft) of land with a total of 100,263 sqm (1,079,222 sqft) of in-built floor area, CanningHill Piers is a high end integrated development jointly developed by CapitaLand and City Developments Limited. For the uninitiated, this was the former Liang Court site that is replaced with CanningHill Piers, offering 48-storey and 24-storey residential towers with 696 units.
The residential towers are integrated with a 21-storey Moxy Hotel, 20-storey serviced residences managed by Ascott, as well as a two-storey retail podium named CanningHill Square managed by CapitaMall.
Canninghill Piers offers 1 to 5-bedroom apartments, Sky Suites, a Super Penthouse and a wide range of facilities.
It's colossal plot ratio of 7.6 (more than double of most sites in the neighbourhood) makes it the tallest residential development along the Singapore River, offering panoramic views of the former heart of Singapore's entrepot trade, Fort Canning Hill, Pearl's Hill, Marina Bay, River Valley, Orchard Road, and possibly the future Greater Southern Waterfront for high floor units!
Being directly linked to the upcoming CanningHill Square Mall, you will have a wide range of retail options from CapitaMall tenants right at your doorstep.
Future residents of CanningHill Piers can expect a lot of perks from its location, which offers easy access to shopping districts including Orchard Road, Bugis and Raffles Boulevard.
Its location is not only positioned for leisure seekers, but also for the history and fitness buffs. Take a walk down the memory lane of Fort Canning Hill and immerse in the history of the 18-hectare site including one when Sir Stamford Raffles was said to have built his bungalow as well! Other places of interest include the Singapore River, Chinatown, Marina Bay and Empress Place
CanningHill Piers also boasts strong connectivity and accessibility as it is linked to Fort Canning MRT station (Downtown Line) and a short walk from Clarke Quay MRT station (North East Line).
Could this be the right investment property for you?
As with any investments, one should take a long-term view in making decisions. Especially when Singapore remains a safe haven for investors, the word on the street is that demand for luxury and prime-area private housing will pick up after each economic crisis. Studies have shown that many who bought new private homes during a downtown and resold them subsequently have profited.
Singapore's property market has also been growing sustainably over the past few years, in line with market fundamentals and wage growth, due to cooling measures already in place. The market was also "fair valued" with "no bubble risk" based on UBS's Global Real Estate Bubble Index 2020.
While we feel that CanningHill Piers has high strategic investment potential, buying investment properties certainly requires some calculated risks. With a bigger gamble comes the bigger reward. Just to get a sense of the capital appreciation and rental returns, some projects within 2.5 km from CanningHill Piers could fetch from $3,301 psf to $5,125 psf. The overall average rental of projects within 500 metres from CanningHill Piers including The Pier at Robertson is priced at $5.06 psf.
As our saying goes, “Don't buy property because everyone is doing it. Buy because you made an informed decision” and Property Ai Mai is here to help you achieve just that!
If you would like to schedule a showflat appointment or find out how CanningHill Piers can help you achieve your investment goals, drop us a call or message at +65 8881 8825