Is Arena Residence condo a good purchase?

Arena Residences can be a good purchase for several reasons, especially if you are looking for a condo in the city fringe with convenient access to amenities and public transport.

Location

• Located along Guillemard Road, Arena Residences is close to Mountbatten MRT Station and Aljunied MRT Station, making it easily accessible by public transport. It is also near major highways like the East Coast Parkway (ECP), Pan Island Expressway (PIE), and Central Expressway (CTE), which is beneficial for drivers.

Amenities

• The area is renowned for its food options, with the Old Airport Road Food Centre nearby. Additionally, the condo is close to Guillemard Village, which offers restaurants, a wellness spa, and a rock climbing gym.

Investment Potential

• Given its freehold tenure and relatively small number of units (98), Arena Residences could be an attractive option for investors. The rental yield is estimated to be around 3%, which is competitive compared to other similar developments in the area.

Developer

• The developer, Roxy-Pacific Holdings, has a good track record with notable developments such as Trilive, EON Shenton, and Liv On Wilkie, which adds to the credibility of the project.

Facilities

• While the facilities at Arena Residences are limited compared to larger developments, the proximity to the National Stadium and other community facilities can compensate for this. The focus on keeping running costs low is also a plus for potential buyers.

However, it's important to consider the following:
- The area is near Geylang, which might be a concern for some buyers due to its reputation, although the condo itself is not located in Geylang.
- The pricing is slightly higher compared to some older developments in the area, but this can be justified by its newer age and freehold status.

Overall, Arena Residences offers a good balance of location, convenience, and potential for rental income, making it a viable option for those looking to purchase a condo in this area.