Orchard: The epitome of luxury and sophistication
Tell somebody that you live in Orchard area and you will instantly sign yourself off as a member of Singapore’s elite. Orchard has prided itself to be the haven on Earth with an entire stretch of shopping malls and private residences. Recent developments of retail space and condominiums in Orchard seek to bring it closer to metropolitan stars like New York and Hong Kong.
Not just the average shopping mall
Orchard is upgrading itself from just rows of malls to a truly luxurious and exclusive shopping paradise. A very good example would be Ion Orchard, a joint venture between Singapore’s CapitaLand and Hong Kong’s Sun Hung Kai Properties. Scheduled to launch in the fourth quarter this year, it is a world class retail center that houses haute couture outlets. This dazzling line-up pushes Orchard shopping a few notches up the ladder of sophistication and exclusivity. Shopping in Orchard in the near future would resemble that of New York’s Fifth Avenue and Hong Kong’s Nathan Road as more and more duplex flagship stores grow in downtown Singapore.
Although Orchard has what downtown in New York and Hong Kong can offer, our statistics in Singapore Prime Districts tells us that the price of its property is still relatively much lower compared to these two cities.
Luxurious and exclusive condominiums
Strong growth spurts in the economy and good prospects in the near future have given developers the boost to conceptualize luxurious living space never thought possible before this. What we see in the market right now is a series of uber exclusive and luxurious private residences indulging in its dimensions and facilities. Furthermore, the developers are inching closer and closer to Orchard Road itself, rather than building their projects at the outskirts of this street because it was once considered too precious and too expensive for private residential projects.
Rising demand and record prices
The demand in the market is overwhelming. Over the past year, new developments in Orchard have been sold fast and at record prices in auctions open to only those with special invitations. This fight for a space in Orchard has led to a huge surge in prices. The price though steep should not scare off potential investors. Not every development in Orchard is going to cost a bomb. Projects lying slightly further away from Orchard Road but still close enough to be convenient are a good option. We at Singapore Prime Districts help clients negotiate for units in 8 @ Mount Sophia, a tranquil sanctuary hidden away from the hustle and bustle of the city yet are 20 minutes walking from Orchard Road.
Orchard Road is indeed the cherry on the cake of Singapore’s prime property market. The undergoing projects only serve to reiterate its position as tops in luxurious living in a sophisticated environment. If you are looking for the best in Singapore, Orchard Road is probably the answer.