Month: March 2025

Casa Fidelio, a freehold landed development located on Fidelio Street in District 15, will soon be put up for collective sale through a tender process starting from March 20. PropNex Realty, the marketing agent for the site, has announced that the reserve price for the development is set at $24 million, which works out to a land rate of $1,388 psf. This marks the first attempt by Casa Fidelio owners to launch an en bloc sale for the property.

When it comes to investing in condos in Singapore, another crucial factor to consider is the government’s property cooling measures. In an effort to regulate the real estate market and discourage speculative buying, the Singaporean government has implemented various measures over the years. One of these measures is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may affect the short-term profitability of condo investments, they ultimately contribute to the long-term stability of the market and create a safer investment environment for buyers.

Completed in 1990, Casa Fidelio is a strata-titled landed development consisting of seven cluster terrace units. It sits on a land area of about 17,293 sq ft which is zoned for residential use, and is designated for two-storey mixed-landed housing. The development is located in a landed housing enclave and is just a short drive away from various amenities, including East Coast Park, dining options at the Katong and Joo Chiat precincts, and several malls such as Siglap Village, Siglap Centre and Bedok Mall.

More amenities are expected to be available with the upcoming completion of Kembangan Wave, an integrated public housing project next to Kembangan MRT Station. This project will include a community club with an eating house, supermarket and outpatient healthcare facility.

Within the vicinity of Casa Fidelio, there are also several schools, including Opera Estate Primary School, St Stephen’s School and Victoria School.

According to PropNex, the site has the potential to be developed in various configurations, such as luxury cluster houses, landed terraces, or even a standalone property with generous space. “The site’s regular shape and ample size provide developers with the flexibility to design a project that maximizes both functionality and aesthetic appeal, and it is well-positioned to cater to the demand for landed homes in the East Coast area,” says Laurence Wong, PropNex’s head of collective sales.

Based on caveats lodged, the most recent transaction at Casa Fidelio was in September 2021, where a unit with a land area of 1,894 sq ft was sold for $2.27 million ($1,198 psf). PropNex highlights that in 2024, only two freehold landed homes on Fidelio Street were transacted: A terrace house occupying a land area of 3,423 sq ft was sold for $9 million ($2,629 psf on the land area), and a semi-detached house on a 2,035 sq ft land area fetched $5.38 million ($2,643 psf on the land area). The agency also notes that a recently-built corner terrace on Jalan Bangsawan, just 400m away from Casa Fidelio, was sold for $3,541 psf in December 2024.

The tender for Casa Fidelio will close on April 22 at 3pm. Interested buyers can check out the latest listings for Casa Fidelio properties on Ask Buddy.…

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The tender for the first private housing Government Land Sale (GLS) site in the upcoming Bayshore precinct closed on March 18, drawing eight bids. The site, spanning 112,992 sq ft and located on Bayshore Road next to the Bayshore MRT Station, has a 99-year leasehold and can potentially yield about 515 units.

SingHaiyi-Garnet, a joint venture by SingHaiyi Group and Haiyi Holdings (which holds a majority share in SingHaiyi), submitted the highest bid of $658.89 million, which translates to a land rate of $1,388 psf per plot ratio (ppr). This bid was only 0.82% higher than the second-highest bid of $653.53 million ($1,377 psf ppr) by Sing Holdings. City Developments submitted the third-highest bid of $620.8 million ($1,308 psf ppr), which was 5.3% lower than Sing Holdings’ bid. According to Justin Quek, CEO of OrangeTee & Tie, this indicates strong confidence in the potential of the site.

Mark Yip, CEO of Huttons Asia, notes that the number of bids received for this site is the highest for a private housing GLS site since January 2022, when a Jalan Tembusu plot (now the site of Tembusu Grand) also received eight bids. He believes that developers may have abstained from bidding for other GLS sites in order to pursue this one. “The strong sales for the past few months have also increased the need [for developers] to replenish their land bank,” he adds.

The demand for condominiums in Singapore remains high as the availability of land in this small island nation is limited. The country’s rapid population growth has posed a challenge in finding suitable land for development, leading to strict regulations on land use and resulting in a fiercely competitive real estate market. Consequently, property prices have consistently risen, making condo investments a lucrative opportunity with potential for significant capital appreciation. The scarcity of land has intensified the demand for condos, making them a top choice for property ownership in Singapore and a valuable asset in this bustling real estate market. Condos have become a sought-after commodity in the country’s bustling real estate market due to their high desirability and potential for profitable returns.

Other bidders for the Bayshore Road site include a Frasers Property-led consortium, Kingsford Development, and a joint venture between Hoi Hup Realty and Sunway Developments. The bids ranged from $1,252 psf ppr to $1,285 psf ppr. The two lowest bids were from a consortium comprising Hong Leong Holdings, TID, and CSC Land Group at $500.68 million ($1,055 psf ppr), followed by Sim Lian Group at $485 million ($1,022 psf ppr). This significant gap of 36% between the lowest and highest bids reflects mixed market sentiments among the bidders, according to Marcus Chu, CEO of ERA Singapore. He also points out that SingHaiyi’s bid of $1,388 psf ppr sets a new benchmark for land prices in the Outside Central Region (OCR), surpassing the previous threshold of $1,250 psf ppr paid by MCL Land and CSC Land Group in November 2023 for the site of Elta, now located at Clementi Avenue 1.

Wong Siew Ying, head of research and content at PropNex, adds that this new benchmark for the OCR rivals the land rates of some GLS plots in the Central Region. Last year, Zion Road Parcels A and B in the Rest of Central Region were awarded at $1,202 psf ppr and $1,304 psf ppr, respectively, while the Holland Drive and River Valley Green (Parcel A) sites in the Core Central Region sold for $1,285 psf ppr and $1,325 psf ppr, respectively.

The future development at the Bayshore Road site will be the first private residential project in the new Bayshore precinct, a 60-hectare area situated between East Coast Parkway (ECP) and Upper East Coast Road. Around 10,000 homes are planned for this precinct, with 30% designated for private housing.

According to Yip, this GLS site is likely the best option in the Bayshore precinct as it offers a sea view and doorstep access to the Bayshore MRT Station. In addition to new amenities that will be constructed in the neighbourhood, the area also stands to benefit from long-term development plans, such as the Long Island coastal protection project that will add reservoirs and parks fronting the Bayshore area, says Leonard Tay, Knight Frank Singapore’s head of research.

According to Wong, there have been no significant private condo launches in the Bayshore area for decades. Existing condos in the vicinity include The Bayshore, which launched in the 1990s, and Costa Del Sol, which hit the market in 2000. As a result, there may be pent-up demand for new private housing in the area, including demand from HDB upgraders in the nearby Marine Parade and Bedok estates, Wong says. “Riding on the recent positive sales momentum in the primary market, and the anticipation of healthy homebuying interest for the future Bayshore project, it is little wonder that developers were out in droves for this GLS tender – perhaps also hoping to gain a first-mover advantage in that area,” she adds.

Based on the top bid of $1,388 psf ppr, Wong predicts that the future development at the Bayshore Road site could have an average selling price of over $2,600 psf. Meanwhile, Tay believes prices at the upcoming project could start from $2,700 psf and average above $2,800 psf.…

Revamped private home sales continued to thrive in February as new launches drove the market forward. According to the latest data released by the Urban Redevelopment Authority (URA) on March 17, developers sold a total of 1,575 units (excluding executive condominiums or ECs) last month, marking a significant 45.4% increase from the 1,083 units sold in January.

Additionally, February’s year-on-year figure surpassed the number of units sold in February 2024 by over 10 times, as only 153 units were sold during that period. This also represents the highest number of units sold for the month of February in the past 13 years, since 2,417 units were sold in February 2012. Tricia Song, CBRE’s head of research for Singapore and Southeast Asia, attributes this strong performance to the launches of new projects in the Outside Central Region (OCR).

Including ECs, a total of 1,604 units were sold in February, reflecting a 45.3% increase from January. This brings the total number of units sold (excluding ECs) since the beginning of the year to 2,658. Comparatively, it took developers eight months to reach a similar figure last year, notes Leonard Tay, head of research at Knight Frank Singapore.

According to Tay, the strong showing in February can be attributed to two major launches in the OCR: ParkTown Residence, with 1,193 units in Tampines North, and Elta, with 501 units on Clementi Avenue 1. ParkTown Residence emerged as the best-selling project for the month, selling 1,041 units at a median price of $2,363 psf, with an 87% take-up rate. The project, jointly developed by UOL Group and CapitaLand Development, was closely followed by Elta, which sold 65.1% or 326 units at a median price of $2,538 psf. Song points out that both projects are located in suburban areas with no new supply in the past five years, contributing to their strong performances.

In total, developers launched 1,694 units for sale in February, a significant 89% increase from the 896 units launched the month before. The majority of the sales were in the OCR, with 1,452 units sold, representing a staggering 92% of total new private homes sold in February, according to Wong Siew Ying, head of research and content at PropNex Realty. She adds that this marks the best performance for the OCR in over nine years, since 1,523 units were sold in July 2015.

Sales in the Rest of Central Region (RCR) made up 98 units or 6.2% of total units sold in February. The top-selling RCR project was Pinetree Hill, which sold 22 units at a median price of $2,613 psf. In the Core Central Region (CCR), only 25 units were sold, accounting for 1.6% of total sales in February. The best-performing CCR project was 19 Nassim, with five units sold at a median price of $3,372 psf, followed by four units sold at One Bernam for a median price of $2,651 psf. The 351-unit One Bernam, which launched for sale in May 2021, is now fully sold.

In terms of buyer profile, Singapore citizens continue to make up the majority of new private home buyers at 92.4%, followed by permanent residents at 6.9%, says Lee Sze Teck, senior director of data analytics at Huttons Asia. Foreigners accounted for 11 new home purchases, including the two most expensive transactions in February – the sale of two units at 32 Gilstead for $14.47 million and $14.61 million, respectively.

Acquiring financing is a crucial factor in the process of investing in a condo. Singapore presents a variety of mortgage choices; however, it is crucial to be familiar with the Total Debt Servicing Ratio (TDSR) framework. This framework sets limits on the amount of loan that a borrower can obtain, taking into account their income and any pre-existing debt obligations. It is essential for investors to grasp the TDSR and collaborate with financial advisors or mortgage brokers to make well-informed decisions about their financing options and avoid becoming over-leveraged. For further assistance in navigating the financing aspect of investing in a condo, investors can also consider consulting with New Condo Launches.

Furthermore, a record number of suburban homes were sold for over $2 million in February, with a total of 603 new private homes (including ECs) in the OCR being sold at this price range. This marks the highest number of new suburban homes sold in a single month since URA data first became available in 1995. According to Christine Sun, chief research strategist at OrangeTee Group, this figure exceeds the previous record of 512 units sold in November 2024.

Of the 603 OCR homes sold for over $2 million, 596 are non-landed homes, mainly from ParkTown Residence (397 units), Elta (145 units), and Hillock Green (16 units). Wong observes that the average unit prices of recent launches have “decoupled from the sub-market where these projects are located.” She notes that while property prices typically follow a hierarchy led by the CCR, followed by the RCR and the OCR, recent launches suggest this may no longer be the case.

For instance, Wong points out that The Collective at One Sophia, a CCR project launched in November, has sold 73 units at an average price of $2,743 psf, based on URA data as of the end of February. “This is lower than the average transacted price of units sold at Union Square Residences ($3,175 psf) in the RCR, and only slightly higher than that of The Orie ($2,734 psf), also in the RCR,” she explains.

Lee believes that the narrowing price gaps between regions may be due to various factors, including specific project details, pricing based on amenities, demand from HDB upgraders, and location on the edge of the CCR. She predicts that prices could converge even further in the coming months as new RCR projects located just off the CCR are launched, such as One Marina Gardens in Marina South and future developments on Zion Road residential sites.

The strong momentum in developer sales is expected to continue in March, fueled by recent launches such as the 477-unit Lentor Central Residences, the 188-unit Aurea, and the 760-unit Aurelle of Tampines EC. According to Marchus Chu, CEO of ERA Singapore, these projects have collectively sold over 1,150 units as of mid-March, ensuring a strong end to the quarter. As a result of the strong first-quarter sales, ERA has revised its projection for new private homes sold in 2025 to between 8,500 and 9,000 units, up from the previous forecast of 7,000 to 8,000 units.

Huttons’ Lee predicts that developer sales (excluding ECs) will surpass 3,200 units in the first quarter of the year, making it the highest first-quarter sales since 2021. Looking ahead to the second quarter, new launches on the horizon may include Bloomsbury Residences (358 units), One Marina Gardens (937 units), W Residences Singapore – Marina View (638 units), and Arina East Residences (107 units). However, not all projects launched in the coming months may perform equally well, according to Knight Frank’s Tay. “Homebuyer demand will largely depend on the specific location and property attributes of each specific new project launch, with some projects doing better than others,” he concludes.…

SLA has launched a call for tender for a group of twenty historical bungalows in Sembawang. The properties, situated along Admiralty Road East, Falkland Road, Auckland Road West and Fiji Road, are available for lease with a term of five years and the possibility to extend for another four years.

When considering the purchase of a Condo, it is crucial to also assess its potential for rental yield. This refers to the annual rental income as a percentage of the Condo’s purchase price. In Singapore, Condo rental yields can vary significantly depending on various factors like location, property condition, and market demand. Generally, areas with high demand for rental properties, such as those near business districts or educational institutions, tend to offer better rental yields. It is vital to conduct thorough market research and consult with real estate agents who can provide valuable insights into the rental potential of a specific Condo. It is recommended to seek advice from experts like those from Hornby Eagles to make an informed decision before making an investment in a Condo.

Built in the 1920s and 1930s, these two-storey black-and-white bungalows occupy a total area of 245,300 sq ft and have an estimated overall gross floor area of 94,945 sq ft.

The bungalows are open for lease to be used as serviced apartments, catering to multi-generational and senior co-living concepts. They can also be utilized for F&B and retail purposes, with a maximum GFA of 9,580 sq ft. The minimum duration of stay for a serviced apartment is one week.

In addition, the tender bids will be evaluated on a price-quality basis. The submission process will end on June 11 at 11am, with the winning bid to be announced in October.

This move by SLA is in line with their efforts to transform state properties into unique and innovative spaces. These bungalows, with their historic charm and strategic location, have the potential to be repurposed as co-living concepts, pop-up event venues, or social impact hubs.

As Singapore continues to evolve and adapt to the changing needs of society, it is exciting to see how these heritage bungalows will be transformed and utilized in the future.…

CapitaLand Integrated Commercial Trust (CICT) has announced changes to its board composition, with the appointment of Tan Choon Siang as CEO and current CEO Tony Tan as chief corporate officer of CapitaLand Development. These changes were revealed in a bourse filing on March 17.

Currently the deputy CEO of CICT, Tan will take on the role of CEO and executive non-independent director of the company, effective May 1, 2025. He will also join the executive committee (EC) of CICT.

In turn, current CEO Tony Tan will step down from his role as executive non-independent director and member of CICT’s EC. He will be appointed as the chief corporate officer of CapitaLand Development. Tan has been serving as CEO and executive director of CICT since 2017.

When pondering an investment in Singapore Condo, it is essential to consider the potential rental yield. This refers to the yearly rental income as a percentage of the condo’s purchase price. In Singapore, rental yields for condos can vary significantly, depending on factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, offer better rental yields. It is crucial to conduct thorough market research and consult with real estate agents to gain valuable insights into the rental potential of a specific Singapore Condo investment.

Under his leadership, CICT successfully completed the merger of CapitaLand Mall Trust and CapitaLand Commercial Trust in 2020. This merger created Singapore’s largest listed REIT with a market capitalization of $15.5 billion.

The incoming CEO, Tan, was previously the manager of CapitaLand Malaysia Trust from 2002 to 2022, and also served as the chief financial officer of the manager of CapitaLand India Trust. Additionally, he was previously the Head of Corporate Finance & Treasury at Ascendas-Singbridge, which merged with CapitaLand in 2019.…

First, let’s talk about the amazing transformation of Keppel South Central. The highly anticipated redevelopment of the former Keppel Towers has been completed, and it is now known as Keppel South Central – the flagship commercial tower of Keppel. The 33-storey building, located along Hoe Chiang Road in Tanjong Pagar, offers approximately 650,000 square feet of office, retail and event space. This project marks a significant pivot for Keppel as it looks to focus on other brownfield redevelopment projects following the completion of Keppel South Central.President of Keppel’s real estate division in Singapore, Samuel Ng, said, “The redevelopment of Keppel South Central is our showpiece. But now that it has been completed, we will be shifting our focus to other brownfield projects.” This move is part of Keppel’s Sustainable Urban Renewal (SUR) strategy, which aims to replicate the success of Keppel South Central in other locations across the Asia-Pacific region. According to Ng, the company is already looking at several projects in the region and will be pivoting towards more green and sustainable developments in the future.

Keppel, a homegrown global asset manager and operator, has announced that it will shift its focus to other brownfield redevelopment projects following the completion of its flagship 33-storey commercial tower, Keppel South Central. Samuel Ng, president of Keppel’s real estate division in Singapore, refers to the redevelopment of Keppel South Central as “our showpiece”.

The former Keppel Towers, now known as Keppel South Central, is a 27-storey office tower completed in 1991, and Keppel Towers 2 (formerly known as GE Tower), a 13-storey building completed in 1993. The completion of the tower last month marks a significant pivot for Keppel, as it looks to focus on other brownfield redevelopment projects.

Nearly 50% of the office space and retail units in the commercial tower are either leased or in active negotiations. A leading financial services group has been secured as the first anchor tenant, leasing two whole floors. Office occupants are expected to begin moving in from June. The tower also offers retail and event spaces on the ground floor, with typical office floor plates ranging between 20,000 and 22,000 sq ft.

In summary, purchasing a Singapore condo offers a multitude of benefits, including high demand, potential for appreciation in value, and attractive rental yields. However, it is crucial to carefully evaluate various factors like location, financing options, government regulations, and market conditions before making a decision. Through thorough research and seeking professional guidance, investors can make sound choices and maximize their profits in Singapore’s ever-evolving real estate sector. Whether you are a local investor seeking portfolio diversification or a foreign buyer looking for a secure and profitable investment, the availability of Singapore condos presents an enticing opportunity. Consider adding Singapore Condo to your investment considerations and reap the benefits of this dynamic real estate market.

The newly renovated property features a suite of technological improvements, including facial recognition access, 5G Wi-Fi, and an indoor air-quality management system. The office space has also been adapted to support the needs of modern tenants, with designated floors fitted with micro ACUs (air conditioning units) for after-hours operations.

In addition to the technological improvements, the tower also introduces retail and event spaces on the ground floor, health and wellness spaces on the fifth and sixth floors, a landscaped terrace on the 18th floor, and end-of-trip facilities on Basement 1. These new facilities bring the development in line with the standards of Grade-A office spaces.

Keppel South Central has been certified by BCA as a Green Mark Platinum Super Low Energy building, with estimated energy savings of about 6.2 million kilowatt hours (kWh) a year. This translates to savings of approximately $1.8 million annually. To achieve this, Keppel incorporated several green solutions that were tested at another ageing property, Keppel Bay Tower, which became Singapore’s first zero-energy commercial building in 2020.

Keppel is looking to replicate the success of Keppel South Central across the region as part of its Sustainable Urban Renewal (SUR) strategy. Ng says, “The challenge, however, is that for every 5 sq ft of demand across Apac, 2 two sq ft of low-carbon space is projected for development from now until 2028. With limited new office supply expected, this presents a significant opportunity for sustainability-focused retrofits.”

In Singapore, ageing office buildings typically undergo redevelopment to recycle prime commercial land in the CBD. Leonard Tay, head of research at Knight Frank Singapore, adds, “The completion of projects like Keppel South Central provides fresh office supply at a time when there are no available sites for an office tower development in the core CBD area.”

To fund the redevelopment of brownfield projects across the region, Keppel announced the first close of its flagship Keppel Sustainable Urban Renewal Fund (KSURF), with total funds under management of over $2.3 billion in April. The fund will target properties across the commercial, living, life sciences, hospitality, and logistics segments in Singapore, South Korea, Japan, Australia, and first-tier cities in China.

Ng says, “Keppel’s in-house capability to execute the renewal works ourselves helps us stand out from other asset managers. Whether it’s an industrial, office, or data centre asset, our operational knowledge helps us to streamline the process of selecting which new technologies to implement, thereby saving in capex cost if the projected savings aren’t produced.”

After the fund acquires the asset, Keppel will be able to complete the asset enhancement works, stabilise occupancy, and divest it within the fund’s life of seven years. To date, Keppel has applied its SUR initiative to eight projects across five countries, with three projects still in progress.…

A 99-year leasehold semi-detached house in District 16 is set to go under the hammer at SRI’s next auction on March 15, with a guide price of $3.65 million. The three-storey property occupies a 3,034 sq ft corner plot at Kew Heights and offers a spacious living area with a double-volume ceiling, an adjoining dining area, a kitchen, helper’s room and six bedrooms.

The property, which has a floor area of 4,436 sq ft, also comes with a car porch and a backyard area. Being a mortgagee sale, this is the first time the property will be offered for sale via auction.

According to Mok Sze Sze, managing partner of auctions and sales at SRI, the spacious layout and location make it an ideal property for extended or multi-generational families. She mentions that potential buyers may also have the opportunity to convert some of the open areas into additional bedrooms.

At a guide price of $3.65 million, the property reflects a land rate of $1,203 psf. This is considered one of the lowest prices in the area, as reflected by a URA caveat from November 2021, where the property was last transacted at $3.19 million ($1,051 psf).

Last year, two other 99-year leasehold landed properties in the Kew Vale estate were also sold – a three-storey semi-detached house along Kew Drive sold for $3.35 million, and a three-storey terraced house along Kew Heights sold for $3.26 million. Both properties were sold in January and February, respectively, and had an average land rate of $1,398 and $1,417 psf.

The average land rate for semi-detached houses in the Kew Vale estate has seen an increase in recent years, with URA Realis data showing that seven transactions in 2023 and 2024 achieved an average land rate of $1,213 psf. This is up from the average land rate of $1,002 psf across seven transactions in 2021 and 2022.

The demand for Condo investment in Singapore has been on the rise, attracting both local and foreign investors. This can be attributed to the country’s strong economy, stable political environment, and exceptional standard of living. The real estate market in Singapore is thriving, offering a wide range of investment opportunities, and Condos are a popular choice due to their convenience, amenities, and potential for high returns. In this article, we will explore the benefits of investing in a Condo in Singapore, as well as the important factors to consider and steps to take when entering this market.

Aside from the attractive land rate, the Kew Vale estate also offers a convenient location, with easy access to major motorways such as the East Coast Parkway (ECP). It will also be served by the upcoming Bedok South MRT Station along the Thomson-East Coast Line, scheduled to open in the second half of 2026.

The property also boasts a range of educational institutions nearby, including Temasek Primary and Secondary Schools, Bedok South Secondary School, and Bedok View Secondary School.…

A sale at the Trizon, a 289-unit condo on Ridgewood Close, made headlines last week as it was the most profitable resale transaction for the period of Feb 25 to March 4. The sale of the 5,737 sq ft penthouse unit on the 23rd floor earned the seller a profit of $3.2 million (49%), which translates to an annualized gain of 4.5% over nine years. This also makes it the second most profitable resale transaction to date at The Trizon.

The record for the most profitable resale transaction at The Trizon was set two years ago when a 7,083 sq ft penthouse was sold for $11 million ($1,553 psf) in August 2023. This unit had been previously bought for $7.1 million ($1,002 psf) in November 2019, resulting in the seller raking in a record profit of $3.9 million (55%), which translates to an annualized profit of 12% over close to four years.

Situated in prime District 10, The Trizon is a freehold development close to the Mount Sinai landed enclave, Pandan Valley and Pine Grove private residential estates. It offers a mix of two- to five-bedroom units, with typical units ranging from 1,012 sq ft to 5,102 sq ft and penthouses ranging from 5,328 sq ft to 7,083 sq ft.

Investing in a condominium offers many advantages, one of them being the ability to use the property’s value to obtain additional investments. Many investors in Singapore Projects have taken advantage of this tactic, using their condos as collateral to secure financing for new ventures and expanding their real estate portfolio. While this approach can potentially yield higher returns, it is important to have a carefully planned financial strategy and consider the potential risks associated with market fluctuations. Visit Singapore Projects for more information.

According to a tabulation of resale caveats by EdgeProp Singapore, the average resale price at The Trizon is around $2,017 psf. In comparison, nearby Pandan Valley, a sprawling 605-unit development, has an average price of $1,449 psf, while The Ridgewood, a 999-year leasehold development with 425 condo units and 38 landed units, commands an average price of $1,728 psf.

Two new 99-year leasehold private residential projects – the 846-unit Emerald of Katong and the 638-unit Tembusu Grand – are located next to The Trizon. Other new projects in the vicinity include The Continuum, an 816-unit freehold development on Thiam Siew Avenue, and Grand Dunman, a 1,008-unit 99-year leasehold project on Dunman Road.

The sale that garnered the second-highest profit during the week was a 1,442 sq ft unit at Haig Court, which was sold for $2.84 million ($1,968 psf) on Feb 27. The three-bedroom unit on the third floor was previously bought for just $798,868 ($554 psf) in 2005. Thus, the seller reaped a profit of $2.04 million ($255%), which translates to an annualized gain of 6.8% over 19 years.

Haig Court is a freehold development on Haig Road in District 15, which comprises 360 units and was completed in 2004. Centrally located in Marine Parade, it is close to shopping malls such as Katong Shopping Centre, Roxy Square and I12 Katong. The condo is also near renowned schools like Chung Cheng High School, Tanjong Katong Girls’ School, Tanjong Katong Secondary School and the Tanjong Katong campus of the Canadian International School.

The two new 99-year leasehold private residential projects next to Haig Court are Emerald of Katong and Tembusu Grand. Other new projects in the vicinity include The Continuum and Grand Dunman.

Haig Court saw eight resale transactions last year, with profits ranging from $450,000 to $2.06 million. There have been two resale transactions so far this year, with the other sale being a 1,453 sq ft unit that fetched $3.02 million ($2,078 psf) on Jan 17. The seller earned a profit of $2.13 million.

The most unprofitable resale during the week took place at Orchard Scotts, where a 2,228 sq ft unit was sold for $3.78 million ($1,696 psf) on Feb 25. However, the unit was previously purchased for $4.35 million ($1,955 psf) in 2010, resulting in the seller incurring a loss of $576,000 (13%), which translates to an annualized loss of 1% over close to 15 years.

Based on a compilation of resale caveats at Orchard Scotts, resale prices at the condo have been declining in recent years. In March 2010, units were typically sold at an average of $2,061 psf, which has since slipped to $1,747 psf by March 2020. However, resale prices have marginally picked up recently to around $1,760 psf.

Orchard Scotts is a 99-year leasehold condo on Anthony Road, off Clemenceau Avenue North in prime District 9. Completed in 2008, the development comprises 387 units ranging from two- to five-bedroom units of 936 sq ft to 4,435 sq ft.…

2h agoA two-bedroom unit at The Esta, a freehold development in District 15, has achieved a new psf-price record of $2,377 when it was sold for $2.38 million on Feb 26. This surpassed the previous record of $2,317 psf set in January last year.The sellers of the seventh-floor unit, who purchased it for $1,833 psf in March last year, made a profit of about $545,000.The average resale price of condo units at The Esta has been steadily on the rise over the past three years. In 2022, the project recorded 10 transactions with an average psf-price of $2,012. The following year, the average price climbed to $2,156 across nine resale transactions. In 2020, another nine units were resold at an average price of $2,248 psf, reflecting an 11.7% increase in average resale prices since 2022.AdvertisementBy absolute price, the most expensive unit sold at The Esta was a 3,477 sq ft, five-bedroom apartment on the 21st floor, which changed hands for $6.25 million, or $1,798 psf, in October 2021.D’Leedon, a 99-year leasehold condo in District 10, came in second with a new psf-price high of $2,287 achieved on Feb 25 when a 1,421 sq ft, three-bedroom unit on the 29th floor sold for $3.25 million. This surpassed the previous record of $2,180 psf set in October last year.Over at Citylights, a 99-year leasehold condo in Kallang, a 893 sq ft, two-bedroom unit on the 26th floor was sold for $1.98 million, or $2,216 psf, on Feb 27, setting a new psf-price record. The latest record is 4.4% higher than the previous peak of $2,122 psf set in December last year. The sellers purchased the unit for $1.44 million in April 2019, making a profit of about $542,000.Citylights, completed in 2007, offers one- to four-bedroom units ranging from 560 sq ft to 3,875 sq ft. It is located just a one-minute walk from Lavender MRT Station and is close to dining and retail options, including Aperia Mall and Kitchener Complex, both within a 300m radius.

Investors must take into account the maintenance and management aspects of a condo when making an investment decision. Condominiums often require a maintenance fee to cover the expenses of maintaining shared spaces and amenities. While this may increase the overall cost of owning a condo, it also guarantees that the property will remain in excellent condition and hold its value. To make condo ownership a more hands-off experience, investors can enlist the services of a property management company. Singapore Projects can assist investors in managing the day-to-day operations of their condos, making it a less active investment opportunity.…

According to the latest Emerging Trends in Real Estate Global Outlook by PwC and the Urban Land Institute (ULI), published on March 12, low yields and sluggish transaction volumes were among the top concerns for property investors in the Asia Pacific (APAC) region this year.

The report gathered investor sentiment from global asset managers, including Blackstone in the US, Savills Investment Management in the UK, and CBRE Investment Management. More than 70% of respondents pointed out low yields, persistently high interest rates, and geopolitical tensions as the main concerns for investors.

The report also highlighted that industry leaders are still drawn to APAC as a diversification strategy due to its population growth and other demographic metrics, as well as its differing monetary policies, such as Japan’s plan to raise short-term interest rates.

Despite real estate transactions in the region growing by 13% year-on-year to US$173.5 billion (S$231.3 billion) last year, surpassing the growth in other regions such as Europe (12% year-on-year) and the Americas (11% year-on-year), transaction volumes in APAC are expected to remain sluggish as Europe and North America begin a new capital markets cycle with volumes set to improve further.

Liquidity in APAC was affected by a drop in transaction volume last year. In China, transactions decreased by 25% year-on-year to US$418.3 billion (S$557.6 billion), while Hong Kong saw a 1% year-on-year dip to US$15.7 billion (S$20.9 billion).

On the other hand, asset managers in Europe are grappling with a different set of concerns. The top three areas of concern in the region for investors include international political instability (85%), a further escalation of the war (83%), and Europe’s economic growth (77%).

Data from MSCI, a leading US-based research and data analytics company, also show that US commercial property prices remained stable last year, ending the year down by only 0.7%. This could mean that investors may shift their focus and capital to these regions in the coming months.

The report also revealed that data centre assets hold the highest potential for investment and development in all three regions in 2025. According to New York-based research firm Green Street, the global demand for data centres reached record levels last year, with asking rents growing at a double-digit pace. In its latest research, MSCI also highlights 2024 as a standout year for this asset class, with acquisitions of existing data centres through single-property and portfolio deals increasing by more than 60% in the US.

In September last year, Blackstone and the Canada Pension Plan Investment Board (CPP) acquired data centre firm AirTrunk from Macquarie Asset Management and the Public Sector Pension Investment Board for over US$16 billion (S$21.3 billion). This was the largest commercial real estate deal recorded in APAC and globally for 2024.

Other related developments include:

– Hilton has set the target of more than 1,000 hotels by 2025
– APAC hotel investments saw a 33% year-on-year increase in the first half of 2022, according to JLL
– ERA Realty has launched its APAC headquarters in Singapore

Investing in real estate is a strategic decision, and location plays a vital role in its success, particularly in the bustling city-state of Singapore. The value of condos is directly influenced by their location, with those in central areas or near important amenities like schools, shopping centers, and transportation hubs experiencing the most significant appreciation. For instance, prestigious areas like Orchard Road, Marina Bay, and the Central Business District (CBD) have seen continual growth in property prices. Families looking to invest in condos also prioritize proximity to top-rated schools and educational institutions found in these sought-after locations, further cementing their investment potential. Additionally, with the introduction of Singapore Projects, these prime areas are expected to see even more growth in their real estate markets.…