When it comes to investing in a condo, securing financing is a crucial factor to consider. In Singapore, there are various mortgage options available. However, it is crucial to be mindful of the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan a borrower can take based on their income and existing debt obligations. To make well-informed decisions about financing, it is essential to understand the TDSR and seek guidance from financial advisors or mortgage brokers. This will help investors avoid over-leveraging and also explore new condo launches through Anvly.
Two retail units at Sim Lim Square for sale at $4.56 milA pair of connected retail units on the third floor of Sim Lim Square will be featured at the next auction by ERA on February 27. Both units can be purchased together or individually, with a total guide price of $3.38 million. The larger unit, measuring 958 sq ft, has a guide price of $2.08 million ($2,171 psf), while the smaller unit of 570 sq ft has a guide price of $1.28 million ($2,246 psf).This is the first time both units have been listed for auction by ERA, and the seller is motivated to make a quick sale, according to ERA’s assistant vice president of auction and sales, Alison Lee. “The units are competitively priced below market average to encourage a swift transaction,” she says.Data from EdgeProp Singapore shows that the average transacted price for retail units at Sim Lim Square over the last 12 months is $2,997 psf. The latest sale at the development was a ground floor unit of 592 sq ft that was sold for $1.92 million ($3,241 psf) in December 2024.Sim Lim Square is a renowned tech hub, known for its vast selection of electronics, gadgets and computer parts (Photo: ERA)Lee highlights that Sim Lim Square has gained a reputation as a tech hub, with a high concentration of electronics, gadgets, and computer parts retailers. The development also boasts a variety of other businesses, including food and beverage outlets and traditional Chinese medicine stores.Both units for sale are currently tenanted and yield a combined monthly rental of approximately $4.50 psf. Data from EdgeProp Singapore also shows that retail units at Sim Lim Square have a rental yield between $4.20 psf and $7.30 psf, with a rolling 12-month average.The owners of Sim Lim Square had tried to en bloc the development in April 2019, with a tender launched at a reserve price of $1.25 billion. However, the attempt was unsuccessful, and the development was relaunched for sale in December 2019 at the same price, but to no avail. According to Lee, a new collective sale committee is being formed to explore another potential collective sale attempt in the near future.Sim Lim Square, completed in 1987, is a strata-titled commercial development located on Rochor Canal Road in District 7. It sits on a 78,152 sq ft site with a 99-year leasehold tenure from 1983. The complex comprises six floors and two basement levels, housing a total of 492 retail and office units. It is conveniently located near Rochor and Jalan Besar MRT Stations on the Downtown Line, with the Bugis MRT Interchange connecting the East-West and Downtown Lines.