Month: February 2025

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Brand New Land’s team had a vision to bring elements of Good Class Bungalow (GCB) living into the realm of accessible luxury semi-detached homes. To bring this vision to life, they turned to Pau Loh, the managing director of Tellus Design, a renowned name in the GCB design industry. With a three-decade long partnership, they set out to create a collection of four semi-detached homes in the Bukit Timah and Upper Bukit Timah areas, blending the best practices of GCB homes into their designs.

The two sets of semi-detached homes at 23 & 23A Maple Avenue and 25 & 25A Jalan Selanting, affectionately named “The Great Trees Collection”, are inspired by the beauty and legacy of nature. These homes range from 2,790 to 3,130 sq ft and boast luxurious features such as a lift, swimming pool, and gourmet kitchen provisions. Keeping with Brand New Land’s philosophy of delivering value to their clients, these homes are priced within the bank valuation range, allowing for potential upside for buyers.

GCB Design Elements

Taking inspiration from large bungalow homes, the semi-detached homes are designed with dedicated zones for different functions. Separate areas for receiving guests, dining, gourmet cooking, and entertainment spaces cater to different group sizes and create an intimate and personalized experience. “We love the intimacy that these dedicated spaces create. Under the same roof, you can have family and friends being at home together, but with your own space and privacy,” explains Brand New Land Group’s Co-Founder and Director, Alvina Teh.

‘Ceremonial Entrances’

The experience of arriving home and stepping into a personal space is a special one that Brand New Land aims to recreate in their homes. According to Tatiana Teh, Client Relations Director of Brand New Land Group, “The experience of coming home, stepping in from the outside world into your own space, is something we hold close to our hearts when we develop our homes. We want to bring this special experience to our community.” Each semi-detached home features a ceremonial entrance, framed by lush greenery, the sound and reflection of water, and warm and rich facade materials, celebrating the transition from outside to home.

When pondering an investment in a condo, one must also thoroughly consider the potential rental yield. The rental yield, which is the annual rental income as a percentage of the property’s purchase price, is a crucial factor to examine. In Singapore, the rental yields for condos can vary significantly based on factors such as location, property condition, and market demand. Typically, areas with high rental demand, like those in close proximity to business districts or educational institutions, offer more attractive rental yields. To gain a better understanding of the rental potential of a specific condo, it is essential to conduct comprehensive market research and seek guidance from knowledgeable real estate agents. With thorough assessment and expert advice, investing in a condo can prove to be a lucrative opportunity. Condos are an excellent option for potential investors looking for a profitable venture.

Luxe Architecture and Rich Materials

Drawing from Pau Loh’s signature style that has proven successful for GCBs in Singapore’s tropical climate, these homes have wide overhanging eaves and deep recesses to provide shelter and cool the interiors. Horizontal design elements such as the wraparound golden sand facade treatment, and horizontal planters give the homes a spacious and luxurious aesthetic. The generous use of nature-inspired cladding elements, such as timber-effect screens and rich midnight tones, create a look of quiet luxury. Inside, the homes are adorned with rich timber grain, precious marble, and German bath fittings, evoking a feeling of serene luxury.

Collaboration with Arclinea Singapore

Brand New Land has teamed up with luxury kitchen specialist Arclinea Singapore to create gourmet kitchen experiences in these homes. Both brands share the common goal of inspiring everyday connections in extraordinary kitchen spaces. With a predominantly GCB clientele, Arclinea has added a special touch to the kitchens at 25 Jalan Selanting and 23 & 23A Maple Avenue.

“Our vision for this collection is to bring the best GCB design principles into our semi-detached homes,” says Alvina. “We are blessed to work alongside Pau Loh, a very skilled and steady architect, who helped make it happen. We are very excited about the future these homes will create for the lives they touch.”

To view these homes, call 8893 7602. For more information and updates on upcoming launches, visit www.brandnewland.com.sg or follow Brand New Land on Instagram (@brandnewlandgroup), Facebook (@brandnewlandgroup), YouTube, or LinkedIn. If you’re interested in working with the group or have land with potential for redevelopment, please email comehome@brandnewland.com.sg.

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The decision to invest in a condo in Singapore is increasingly attractive for both domestic and international investors, thanks to the country’s strong economy, political stability, and exceptional quality of life. The real estate market in Singapore presents a wealth of possibilities, with condos standing out for their convenient locations, luxurious amenities, and potential for lucrative returns. This article will delve into the advantages, factors to keep in mind, and necessary actions to take when investing in a condo in Singapore, including keeping an eye on the latest New Condo Launches.

A 99-year leasehold shophouse located at 214 Serangoon Avenue 4 will be up for auction at SRI’s next auction on February 26. The two-storey shophouse, which includes living quarters on the second floor, boasts a total floor area of around 1,668 sq ft. The property has been listed with a guide price of $1.98 million, which translates to $1,187 psf on the floor area.

This is the second time the property is being put up for auction as it was previously listed with a higher guide price of $2.08 million, but failed to find a buyer. According to Jansen Kee, assistant manager of auctions at SRI, the shophouse is prominently located in front of a bus stop, giving it good visibility from the main road.

Currently tenanted, the shophouse is generating a gross rental yield of approximately 6.2% based on the guide price, says Kee. He adds that the property will be sold with its existing lease, which runs until 2026, providing the new owner with an immediate stream of rental income.

Kee also notes that the listed guide price for the HDB shophouse is one of the lowest in the area, making it an attractive value proposition for both investors and owner-occupiers. According to URA records, the most recent commercial shophouse transaction in Serangoon was the sale of a 999-year leasehold shophouse at Lichfield Road. Spanning a land area of 2,319 sq ft, the two-storey property was sold for $4 million ($1,725 psf) in November 2020.

The shophouse up for auction is located within a cluster of HDB flats that border the Serangoon Gardens landed residential estate. It is situated directly across the road from Serangoon Swimming Complex and Serangoon Sports Centre, which draws steady foot traffic. Carpark lots are also available behind the shophouse.…

A lavish four-bedroom duplex apartment is currently available for sale at the prestigious freehold luxury condo 3 Orchard By-The-Park. This highly sought-after unit can be yours through an expression of interest exercise (EOI) for a guide price of $15.8 million.

Investing in condominiums in Singapore also requires careful consideration of the government’s property cooling measures. Over time, the authorities have implemented several measures to control speculative purchases and maintain a steady real estate market. One of these measures is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreigners and individuals buying more than one property. While these measures can affect the immediate profitability of condo investments, they also play a vital role in ensuring the long-term stability of the market, creating a secure investment environment. In addition, keeping an eye on new condo launches can also be beneficial for investors looking to enter the Singapore property market.

According to Huttons Asia, the marketing agent responsible for the sale, this particular unit boasts a spacious 3,800 square feet, equivalent to a price of approximately $4,158 per square foot. Among its luxurious features are 4-meter tall ceilings and a private lift, while three of the four bedrooms come with en-suite bathrooms. The unit underwent a significant renovation three years ago, with a whopping $700,000 spent on enhancing its already opulent design.

3 Orchard By-The-Park, situated on Orchard Boulevard and completed in 2017, was designed by renowned Italian architect Antonia Citterio. The development consists of three 25-storey towers, comprising a total of 77 units. These units range from two to four bedrooms and span from 1,066 square feet to 3,800 square feet. Additionally, there are also penthouses available, ranging from 6,555 square feet to 6,900 square feet.

The location of this development is ideal for those who love to shop, with the bustling Orchard Road shopping district just a stone’s throw away. Families with children will also appreciate the close proximity to esteemed educational institutions such as Anglo-Chinese School (Junior), Anglo-Chinese School (Primary), ISS International School (Elementary & Middle School Campus), and Singapore Chinese Girls’ School (Primary). For those who rely on public transportation, the Orchard Boulevard MRT Station (Thomson-East Coast Line) is conveniently located near the development as well.

Interested parties can submit their expression of interest by March 5 at 4pm. To view other available listings for 3 Orchard By-the-Park and other luxury condominium properties, check out EdgeProp’s website. For further information on the price trends for this development, comparisons between new sale and resale condos, rental yields, and the most expensive condo projects in District 10, be sure to ask Buddy for assistance.…

Huttons Asia reports that the shophouse market has had a quiet year in 2024, with only 84 recorded transactions. This is below the average of 200 deals per year between 1995 and 2023. Lee Sze Teck, senior director of data analytics at Huttons Asia, notes that while some buyers did not lodge a caveat, the number of shophouse deals in 2024 is likely the lowest since 1998.

The total value of the 84 caveated transactions in 2024 was $683.6 million, a decrease of 38.9% from the previous year’s $1.1 billion. However, Lee points out that there were significant non-caveated deals for properties on Amoy Street, Neil Road, North Bridge Road, and Telok Ayer Street, estimated to be sold for over $200 million.

The largest shophouse deal in 2024 was Paragon REIT’s sale of The Rail Mall, a strip mall with 43 shop units on Upper Bukit Timah Road, for $78.5 million in June. This broke the previous record of $74.8 million for a row of shophouses on Jalan Sultan in March 2022, according to Lee.

When contemplating an investment in a Singapore Condo, it is crucial to also evaluate its potential rental yield. Rental yield refers to the annual rental income expressed as a percentage of the property’s purchase price. In Singapore, the rental yields for condos can greatly vary depending on factors such as location, property condition, and market demand. Generally, areas with high demand for rentals, such as those near business districts or educational institutions, tend to offer better rental yields. To gain a better understanding of the rental potential of a specific condo, it is advisable to conduct thorough market research and seek advice from real estate agents.

The Rail Mall shophouses were valued at $62 million in December 2023, resulting in an estimated gain of $16.5 million for the seller. Most of the shophouse deals in 2024 were for smaller amounts, with over half priced between $5 million and $15 million.

Nearly half of the shophouse transactions in 2024 took place in District 8, which Lee attributes to its desirable city-fringe location and lower prices compared to Districts 1 and 2.

In the meantime, shophouse rents across the island fell for the second straight quarter, declining 2.6% q-o-q to $6.47 psf per month in 4Q2024. Despite this, shophouse rents for the entire year were up 1.7%.

Conservation shophouses on Telok Ayer Street are currently for sale at $42 million.…

Investing in condos in Singapore also requires careful consideration of the government’s property cooling measures. In order to maintain a stable real estate market, the Singaporean government has implemented various measures to discourage speculative buying. 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 have an impact on the immediate profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a safer investment environment. Additionally, for updated information on new condo launches, you can visit One Mind One Energy.

CBRE’s latest Singapore Market Outlook 2025 report, released on January 23, suggests that uncertainty in the macroeconomic environment may lead to divergent outcomes in the real estate market over the next 12 months.

The report notes that while easing inflation and interest rates may provide some relief for the property market in 2025, expectations of slowing economic growth could potentially dampen demand for properties. The Ministry of Trade and Industry is projecting GDP growth to be between 1% and 3% in 2025, which is lower than the 4% growth seen in 2024.

Moray Armstrong, managing director and advisory services at CBRE, highlights that there are several variables that could potentially impact the market in the near future, such as geopolitical tensions, a new US administration with a nationalistic economic agenda, and the release of the URA Master Plan 2025 in mid-year. Despite these mixed signals, there are still opportunities in the real estate market for those who can capitalize on emerging trends, he adds.

Similarly, Tricia Song, CBRE’s head of research for Singapore and Southeast Asia, remains optimistic about the overall stability and resilience of the property market due to limited new supply and stable demand. She predicts that the Singapore real estate market will continue to attract investors from around the world.

According to URA data, developer sales volume increased threefold to 3,511 units in the fourth quarter of 2024, rebounding from record lows in the first nine months of the year. Prices also rose by 2.3% quarter-on-quarter, the highest quarterly growth in 2024. However, CBRE believes that speculation of new cooling measures being implemented is unlikely at this point unless prices rise significantly in the coming quarters.

In light of improved buying sentiment, developers are expected to launch new projects, with an estimated 12,000 to 14,000 new units potentially being released this year – almost double the 6,647 units launched in 2024. As a result, CBRE projects that between 7,000 and 8,000 homes could be sold in 2025, surpassing the 6,469 units sold in 2024. This is expected to drive price growth of between 3% and 6% this year, on top of the 3.9% growth in 2024. At the same time, rental rates are expected to rise by 1% to 3% in 2025.

On the office front, the market saw muted growth in 2024 due to global economic uncertainties, high fit-out costs, and hybrid work arrangements that slowed leasing volumes. Core CBD (Grade A) rents grew by just 0.4% year-on-year last year, compared to 1.7% the previous year. With economic growth predicted to slow in 2025, office leasing momentum is expected to remain subdued as uncertainties temper demand for space.

However, a limited pipeline of new office space in the Core CBD over the next three years is expected to keep vacancy rates low. Only 0.58 million sq ft of new office space is expected to be completed annually from 2025 to 2027, less than half of the 10-year average of 1.28 million sq ft. This is projected to support Core CBD rental growth of about 2% in 2025, in line with GDP projections.

The retail property market is also expected to see limited supply, with only 0.5 million sq ft of new space expected to be completed in 2025, a 40.4% decrease from 2024 and lower than the 10-year historical average of 0.91 million sq ft per year. CBRE notes that the renting sentiment for retail properties remains positive due to inbound tourism and a strong pipeline of entertainment and other events. As such, it predicts a rental growth of 2% to 3% in 2025, bringing it back to pre-pandemic levels.

Prime logistics rents are expected to remain steady in 2025, with an anticipated bumper supply of almost 5 million sq ft of warehouse space. However, at least 60% of this space has already been pre-committed, which should ease any pressure on occupancy rates. CBRE predicts that prime logistics rents will remain largely unchanged in 2025.

In the capital markets, CBRE believes that real estate investment volume will continue to grow in Singapore in 2025, albeit at a slower pace. In 2024, investment volumes saw a 28% year-on-year increase to $28.62 billion, reversing the 30.3% decline seen the previous year. This was driven by interest rate cuts that boosted investor sentiment and appetite, which CBRE expects to persist in 2025. According to its latest Asia Pacific Investor Intentions Survey, majority of investors transacting in Singapore real estate plan to purchase the same volume or more in 2025 compared to 2024.

However, given the ongoing economic and geopolitical uncertainties, CBRE anticipates investors to be selective and allocate capital into specific sectors or strategies with a more favorable outlook. It forecasts a 10% year-on-year growth in investment volumes in 2025, barring any macroeconomic shocks. The industrial and logistics sector remains the most preferred among investors, followed by residential assets and office properties.…

Firstly, the sale of a three-bedroom unit in Palm Spring has been recorded as the most profitable resale transaction between January 14 and 28. The unit, which is located on the fourth floor and measures at 1,884 square feet, was sold on January 20 for a whopping $4.4 million, with a price per square foot (psf) of $2,336. This marks a significant increase compared to the previous purchase price back in August 2005, where it was bought for only $1.21 million, at a psf of $642. In total, the seller made a profit of $3.19 million, resulting in a profit percentage of 264%. Over the course of nearly 20 years, this translates to an annualised profit of 6.8%. Additionally, this sale also takes the lead as the most profitable resale transaction in the history of Palm Spring, surpassing the previous highest profit of $2.56 million (185%) in April 2023. This was for a 1,970 sq ft unit on the first floor, which was sold for $3.94 million, with a psf of $2,000, after it was originally bought for $1.38 million at $701 psf in January 2003.Secondly, according to EdgeProp Singapore’s compilation of resale transactions, prices in Palm Spring have been steadily rising over the past two decades. In January 2015, the average transacted price was $1,439 psf, and has since increased to $2,342 psf in the previous month. This demonstrates a consistent growth in prices, considering that back in January 2005, the average price was only $973 psf. Furthermore, last year saw two successful transactions at Palm Spring. In September, a unit measuring 947 sq ft was sold for $2.19 million, resulting in a profit of $990,000. Another unit, measuring 1,496 sq ft, was sold for $3.36 million in October, yielding an impressive profit of $2.24 million.Palm Spring is a freehold condominium situated on Ewe Boon Road, located in the affluent District 10. The 167-unit development, which was completed in 1997, is approximately 24 years old. With its close proximity to two MRT stations, namely Stevens and Newton, and its convenient access to two major lines, the development is highly sought after by buyers.Moving on, the second most profitable transaction during the same period was the sale of a four-bedroom unit at Orchard Bel Air. This particular unit, which measures 3,229 sq ft and is situated on the 12th floor, was sold on January 15 for $4.65 million, with a psf of $1,440. This is a significant increase compared to the original purchase price back in May 2001, where it was bought for only $1.65 million, at a psf of $511. In total, the seller made a profit of $3 million, resulting in a profit percentage of 182%. Similarly, this profit translates to an annualised profit of 4.5% over the course of nearly 24 years.Moreover, the transaction with the highest profit margin in Orchard Bel Air is that of a 6,512 sq ft penthouse unit on the 25th floor, which was sold for $8.3 million, with a psf of $1,275, in January 2013. This unit had been bought for $3.83 million at $588 psf in March 2006. Other developments near Orchard Bel Air include Cuscaden Reserve, a 192-unit luxury condominium that was completed in 2023. Based on transaction data, the average price at Cuscaden Reserve is approximately $3,043 psf.Orchard Bel Air, however, has a different land tenure, being a 99-year leasehold development located on Orchard Boulevard. It was completed in 1984, and still has approximately 54 years left on its land tenure. Next to Orchard Bel Air is a government land sale (GLS) site on Orchard Boulevard, which was awarded to a UOL-SingLand joint venture last February. Their winning bid of $428.28 million, or $1,617 psf per plot ratio, makes it the only other 99-year leasehold development in the vicinity.Moving on, the most unprofitable transaction that occurred during the review period was at Marina Bay Suites. The seller of a 1,625 sq ft unit on the 58th floor incurred a whopping loss of $1.15 million (27%) during the sale on January 24. The unit was sold for $3.1 million, with a psf of $1,907, which is significantly lower compared to the initial purchase price of $4.25 million, with a psf of $2,614, back in May 2012. This results in an annualised loss of 27% over the course of almost 13 years.Moreover, this loss is only the latest in a streak of unprofitable transactions at Marina Bay Suites, with the past nine months showcasing 14 consecutive unsuccessful deals. The losses vary between $40,000 to $2.5 million. Marina Bay Suites is a 99-year leasehold condominium, located within the six towers of Marina Bay Financial Centre’s mixed-use development at Central Boulevard and Marina Boulevard. The 221-unit Marina Bay Suites consists of a 66-storey residential tower and offers a mix of three- and four-bedroom units. The data compiled by EdgeProp Singapore states that the average selling price at Marina Bay Suites has dropped from $2,502 psf in January 2015 to $1,921 psf currently, which is a significant decrease. Further evidence of this can be seen with the latest selling prices at other nearby developments, such as The Sail @ Marina Bay ($2,047 psf), Marina Bay Residences ($2,242 psf), Marina One ($2,103 psf) and V on Shenton ($2,027 psf).

Investing in a condominium in Singapore carries numerous advantages, one of which is the potential for significant capital appreciation. This is largely due to the country’s advantageous position as a global business hub and its strong economic foundations, which continuously drive the demand for real estate. Over the years, the Singapore property market has consistently shown an upward trend, with prime location condominiums experiencing considerable appreciation. With strategic timing and a long-term investment strategy, investors can reap substantial capital gains from their condominium investments in Singapore. For more information on Singapore projects, please visit Singapore Projects.…

Due to limited land availability in Singapore, the demand for condos has surged in recent years. As a small island nation with a growing population, the country is facing a shortage of land for development, prompting the government to implement strict land use policies. As a result, the real estate market has become highly competitive, leading to a significant increase in property prices. This has made condo investments a highly attractive option for potential investors looking for capital gains. Moreover, with the continuous release of new condo launches, the real estate market in Singapore remains robust, attracting investors in search of profitable opportunities. New Condo Launches have further contributed to the thriving real estate market in Singapore.

?Condo prices: Are bigger units more affordable in today’s market?Question A three-bedroom unit in the Watertown condo, part of the Waterway Point development in Punggol, will be put up for auction by SRI on Feb 26. The 1,281 sq ft unit, previously purchased for $1.8 million in 2013, has a guide price of $2.4 million ($1,874 psf). Although it received one bid in a previous auction, it was withdrawn as the bid was under the reserve price. The 13th-floor unit features a combined living and dining area, an open-concept kitchen, a utility room and toilet, and a south-facing balcony overlooking one of the condo’s 20 swimming pools. It also has an ensuite master bedroom, two additional bedrooms, and a common bathroom. Last year, there were 41 resale transactions at Watertown at an average price of $1,700 psf. Larger units tend to have stronger demand and can fetch higher psf prices compared to the overall average price. Interest in the development comes from HDB upgraders and those looking for a primary residence due to its proximity to Punggol MRT Station. Watertown is a 992-unit condo with one- to four-bedroom units. It is integrated with Punggol MRT Station and several primary schools are located near the condo. Additionally, Waterway Point mall is within the development.Comparison chart of HDB, Condo, and LandedPrices of Condo and EC New SaleCondo New Sale Prices vs EC New Sale PricesYear Of Completion of WatertownUnprofitable Transactions in WatertownPrice Trend of New Sale Condo vs Resale Condo Rewrite:SRI is set to auction off a three-bedroom unit located at Watertown, the residential component of the Waterway Point integrated development in Punggol, on February 26. This mortgagee sale property has a guide price of $2.4 million, or $1,874 per square foot (psf). The same unit was previously featured at an auction in January with the same guide price, but only received one bid. However, as the bid did not meet the reserve price, the unit was withdrawn from the auction. The 1,281 square foot unit on the 13th floor boasts a combined living and dining area, an open-concept kitchen, a utility room and toilet, and a balcony that offers views of one of the condo’s 20 swimming pools. It also includes an ensuite master bedroom, two additional bedrooms, and a common bathroom.Read also: Park Nova penthouse hits a high of $6,593 psf, second-highest condo psf price in SingaporeThe combined living and dining area and open-concept kitchen are just some of the features of this 13th-floor unit (Photo: SRI)According to records from URA caveats, the unit was originally purchased from the developers in October 2013 for around $1.8 million ($1,281 psf). As of February 4, Watertown has already recorded one transaction this year – a two-bedroom unit spanning 958 square feet that sold for $1.7 million ($1,775 psf) on January 19. In 2020, the condo had a total of 41 resale transactions at an average price of $1,700 psf.Larger units within the development tend to have a higher demand and can fetch higher psf prices compared to the overall average. Eric Liew, manager of auctions and sales at SRI, explains that last year, 10 out of the 41 resale transactions at Watertown involved bigger units with three or more bedrooms. These units were sold at an average price of $1,854 psf, which is about 9% higher than the overall average for the year.The south-facing balcony offers views of one of the condo’s 20 swimming pools (Photo: SRI)“Interest in the development comes mostly from HDB upgraders on the lookout for a good deal, as well as those planning to use the unit as their primary residence due to its convenient location near Punggol MRT Station,” says Liew.Watertown is a 992-unit condo that spans across 11 residential towers atop the six-storey Waterway Point shopping mall. It offers one- to two-bedroom units with sizes ranging from 533 to 1,003 square feet, as well as three- and four-bedroom units that are between 821 and 1,582 square feet.Read also: MCL Land and CSC Land Group to preview Elta on Feb 7 with prices from $1.158 milAdvertisementLast 10 transactions at Watertown as of Feb 6 (Source: URA, EdgeProp Singapore)Waterway Point is directly connected to Punggol MRT Station, which is part of the North East Line, and is accessible from Punggol LRT Station. The mall was jointly developed by Far East Organisation, Frasers Centrepoint, and Sekisui House. Several primary schools can be found in the vicinity, including Edgefield Primary School at Edgefield Plains, Oasis Primary School at Punggol Drive, Punggol Green Primary School at Punggol Walk, Compassvale Primary School at Compassvale Street, and Punggol Cove Primary School at Sumang Walk. Check out the latest listings for Watertown and other condominium propertiesAsk BuddyCompare price trend of HDB vs Condo vs LandedCompare price trend of Condo new sale vs EC new saleCompletion year of WatertownAre there unprofitable transactions in Watertown?Compare price trend of New sale condo vs Resale condoRelated StoriesThree-bedroom unit at Watertown for sale at $2.2 milProperties that will be positively impacted by Cross Island Line Phase 1Integrated developments: Withstanding the test of time?Condo prices: Are bigger units more affordable in today’s market?The auction is set to feature a three-bedroom unit located at Watertown, part of the Waterway Point development in Punggol, on February 26. This mortgagee sale property was originally purchased for $1.8 million in 2013 and is now being offered at a guide price of $2.4 million ($1,874 psf). Despite receiving one bid at a previous auction, the property was withdrawn as the bid did not meet the reserve price. The unit on the 13th floor has a combined living and dining area, an open-concept kitchen, a utility room and toilet, and a balcony that overlooks one of the condo’s 20 swimming pools. It also includes an ensuite master bedroom, two additional bedrooms, and a common bathroom. In 2020, 41 resale transactions at Watertown were recorded at an average price of $1,700 psf. Interested buyers are mostly HDB upgraders or those seeking a primary residence near Punggol MRT Station. The development consists of 992 units with one- to four-bedroom units. It is linked to Punggol MRT Station, and there are several primary schools nearby. Waterway Point mall, which is located within the development, was jointly developed by Far East Organisation, Frasers Centrepoint, and Sekisui House.…

The Singapore government has announced the extension of two incentive schemes – the Central Business District Incentive (CBDI) and Strategic Development Incentive (SDI) – for another five years. These schemes were introduced in November 2019, and the latest decision to extend them was announced by Desmond Lee, Minister of National Development (MND), at the Real Estate Developers’ Association of Singapore (Redas) annual Spring Festival lunch on February 7.

The CBDI scheme aims to encourage the conversion of older office buildings in select areas of the Central Business District (CBD) into mixed-use developments. These areas include Tanjong Pagar, Robinson Road, and Shenton Way, and the scheme is intended to increase residential options, boost the population in the CBD, and bring a greater mix of uses to the traditionally commercial-centric district.

Meanwhile, the SDI was introduced to encourage the redevelopment of aging buildings in strategic areas, to bring about transformative changes within the surrounding urban environments. These strategic areas include Orchard Road, the CBD, and Marina Centre.

According to the Urban Redevelopment Authority (URA), 14 of the 17 CBDI proposals and seven of the 12 SDI proposals submitted to the government have been granted in-principle approval. Currently, four CBDI projects in the Anson-Tanjong Pagar area are under construction, including Newport Plaza, a mixed-use development on 80 Anson Road that will feature the 246-unit Newport Residences and 198 serviced apartment units. The Skywaters Residences, which comprises 190 luxury residential units as part of a larger mixed-use development on 8 Shenton Way, is another CBD project. The remaining two projects are commercial developments located at 15 Hoe Chiang Road and 51 Anson Road.

However, the five-year extension of the CBDI and SDI schemes will come with some changes, says Minister Lee. Under the new extension, commercial developments in the Anson and Cecil areas will also be covered under the CBDI scheme, and developers and property owners who submit proposals for these areas can opt to retain their commercial zoning – provided that at least 40% of the floor area is used for non-commercial purposes, such as long-stay serviced apartment units.

Prior to this, office buildings redeveloped under the CBDI were allowed to retain their existing commercial zoning if 40% of the new floor area was used for non-commercial purposes. According to URA, CBDI applicants seeking to redevelop in Anson and Cecil will need to provide at least 200 residential units, or set aside their entire non-commercial floor area for long-stay serviced apartment units, whichever is lower.

Marcus Chu, CEO of ERA Singapore, says, “By enabling the continual renewal of the many aging buildings in the city centre, and with the injection of more residential units, these incentives aim to make the CBD a place to work, live and play.”

Investing in a condominium requires careful consideration of its maintenance and management. Condos usually come with maintenance fees that cater to the maintenance of shared spaces and amenities. While these fees may increase the total ownership cost, they also guarantee the property’s upkeep and preservation of its worth. To achieve a more hands-off approach to investment, investors can enlist the services of a property management company to handle the daily management of their condos. To learn more about condominium projects in Singapore, visit Singapore Projects.

In addition, the revamped CBDI and SDI schemes will also include new sustainability requirements. Going forward, all new applications must include a sustainability statement that assesses the feasibility of retrofitting part, or all, of the existing building. “While we support revitalisation and rejuvenation through redevelopment, what we do not want is wasteful demolition and excessive rebuilding, especially if the buildings are relatively young, or still in good shape,” says Lee.

He adds that several projects that are being redeveloped under the CBDI or SDI schemes are already surpassing the mandatory sustainability requirements. For instance, Union Square, a mixed-use development at Havelock Road, will feature a district cooling system.…

When considering investing in a condo, it is essential to also evaluate its potential rental yield. This refers to the annual income from renting the property as a percentage of its purchase price. In Singapore, the rental yield for condos can vary significantly depending on factors such as location, property condition, and market demand. Generally, areas with high rental demand, like those near business districts or educational institutions, tend to offer better rental yields. Therefore, conducting thorough market research and seeking advice from real estate agents can provide valuable insights into the rental potential of a particular condo. For information on the latest condo launches, visit New Condo Launches.

Perennial Holdings and Far East Organization have recently announced their plans for Aurea, a high-end residential tower located in the prime district of Downtown Core, Singapore. It is part of the Golden Mile Singapore mixed-use development along Beach Road. Designed by the renowned DP Architects, the 45-storey tower boasts 188 luxurious units and occupies a site area of 144,908 sq ft. The tower will be linked to the neighboring The Golden Mile, a commercial building that offers a mix of retail spaces, medical suites, and offices.

The Golden Mile was formerly known as the Golden Mile Complex and is notable for its architectural heritage. It was also the first building to be collectively sold and conserved. In May 2022, Perennial Holdings and Far East Organization acquired the building for $700 million, making it a significant milestone in the history of Singapore.

Aurea’s exclusive appointment-only preview will begin on Feb 22, and the official launch will be on Mar 8. The apartments will be priced at $2,750 per square foot. The two-bedroom units, which have a floor area of 646 sq ft, will start from $1.92 million, or $2,972 per square foot. The units in Aurea come in different types, including two and three-bedroom apartments ranging from 635 sq ft to 1,001 sq ft, four-bedroom apartments from 1,442 sq ft to 1,798 sq ft, and five-bedroom apartments from 2,863 sq ft to 3,251 sq ft. There are also two penthouses – a six-bedroom duplex spanning 5,608 sq ft and a six-bedroom triplex of 8,816 sq ft.

The larger units and penthouses offer private lift access, and the triplex penthouse comes with a private pool. These features cater to the affluent lifestyle of the Core Central Region (CCR) homebuyers, according to Marcus Chu, the CEO of ERA Singapore.

Meanwhile, the two and three-bedroom units make up 60% of the apartments in Aurea and are expected to appeal to both homebuyers and investors, says Chu.

The residents of Aurea can enjoy a range of exclusive facilities, including two infinity pools on levels three and 33, a gymnasium, a bouldering wall, spa facilities, an indoor lounge, and multiple dining pavilions for hosting guests. The sky terraces on levels 17 and 33 offer breathtaking views of the Central Business District (CBD) skyline, Marina Bay, and Kallang waterfront.

According to Ken Low, the managing partner of SRI, homebuyers today are looking for more than just a great location. They want a home that enhances their daily lives and provides easy access to essential amenities. Aurea aims to fulfill these needs, making it a highly desirable residential development.

The 156 strata office units and 19 medical suites at The Golden Mile were launched for sale in December 2024. Perennial Holdings and Far East Organization plan to retain ownership of the revamped two-storey retail atrium to curate the tenant mix. Ismail Gafoor, the CEO of PropNex, believes that the prime location and potential of the commercial space, especially the office units, could attract buyers.

Aurea’s location offers easy access to major roadways such as Nicoll Highway, East Coast Parkway (ECP), and Kallang-Paya Lebar Expressway (KPE). It is also within 1km of the Kallang Alive Precinct, the Bras Basah-Bugis district, and just a 10-minute drive from the CBD. The last launch in the Beach Road neighborhood of District 7 was the 558-unit Midtown Modern in 2021, which has been completely sold at an average price of about $2,825 per square foot. The project is expected to obtain TOP sometime this year. The M, a neighboring 522-unit development, was launched in 2020 and is also completely sold at an average price of $2,528 per square foot. The project was completed in March 2024. The 219-unit Midtown Bay at Guoco Midtown was completed last year, and 63% of the units have been taken up as of Feb 5 at an average price of $3,090 per square foot.

Given Aurea’s location, upscale residences, and Golden Mile’s Singapore architectural heritage, Gafoor estimates that the apartment units could fetch more than $3,000 per square foot. He also believes that the project could attract a strong demand from homebuyers and investors due to the scarcity of newly launched properties in the area.

Aurea is expected to be completed in the second quarter of 2029. For more information on Aurea properties, please check out the latest listings. Other helpful resources include the property’s TOP status, the comparison between HDB, condo, and landed homes’ prices, condo sale transactions in District 7, and other relevant projects in the area. If you are interested in renting a condo in District 7, there are also available listings for your reference.…

Perennial Holdings and Far East Organization have recently announced their joint plans for Aurea, a luxurious apartment tower that will be a part of the Golden Mile Singapore mixed-use development on Beach Road. The tower, designed by DP Architects, will have 188 units spread over a 45-storey new residential tower. With a site area of 144,908 sq ft, the tower will also have a link bridge connecting it to the neighboring The Golden Mile, a commercial building that offers a mix of retail space, medical suites, and offices.

The Golden Mile was formerly known as the Golden Mile Complex and has been conserved for its architectural heritage. It was the first collective sale and conservation of a building, when it was purchased en bloc by Perennial Holdings and Far East Organization for $700 million in May 2022.

The location of Aurea and The Golden Mile in prime District 7 of the Downtown Core and Core Central Region (CCR) is expected to attract strong interest from discerning individuals and families who value the exclusivity of a prime Downtown Core address. According to Shaw Lay See, Chief Operating Officer at Far East Organization’s sales & leasing group, this makes Aurea a highly desirable property.

The preview for Aurea is scheduled to begin on Feb 22, with the launch set for Mar 8. Prices for the apartments will start from $2,750 psf. The two-bedroom apartments at Aurea, spanning 646 sq ft, will be priced from $1.92 million ($2,972 psf). The residences at Aurea offer a range of unit types, with 112 two- and three-bedroom apartments ranging from 635 sq ft to 1,001 sq ft, 56 four-bedroom units from 1,442 sq ft to 1,798 sq ft, and 18 five-bedroom units from 2,863 sq ft to 3,251 sq ft. The development also features two exclusive penthouses: a six-bedroom duplex spanning 5,608 sq ft and a six-bedroom triplex of 8,816 sq ft. The larger four-bedroom units and penthouses come with private lift access, and the triplex penthouse also has a private pool. According to Marcus Chu, CEO of ERA Singapore, these larger units cater to the affluent lifestyles of CCR homebuyers.

It is essential for foreign investors to have a thorough understanding of the laws and limitations surrounding property ownership in Singapore. When it comes to purchasing property, condos are typically less restricted for foreigners compared to landed properties. Nevertheless, it is crucial to keep in mind that foreign buyers are subject to the Additional Buyer’s Stamp Duty (ABSD), which is currently set at 20% for their first condo purchase. Despite this extra cost, the reliability and potential for growth in the Singapore real estate market make condos a highly desirable option for foreign investors. Condos are a great choice for foreign buyers due to their less restrictive nature and the promising potential of the Singapore real estate market.

There is also a strong focus on facilities for residents at Aurea, with two infinity pools on levels three and 33, a gymnasium, a bouldering wall, spa facilities, an indoor lounge, and several dining pavilions for hosting guests. The sky terraces on levels 17 and 33 also offer breathtaking views of the CBD skyline, Marina Bay, and the Kallang waterfront. Ken Low, Managing Partner at SRI, states that today’s homebuyers are looking for more than just a great location. They want a home that enhances their daily lives, and Aurea delivers on all fronts.

The commercial space at The Golden Mile, comprising 156 strata office units and 19 medical suites, was launched for sale in December 2024. The two-storey retail atrium will be retained by joint venture partners Perennial and Far East Organization to curate the tenant mix. According to PropNex CEO, Ismail Gafoor, the former Golden Mile Complex is an iconic building, and the potential of its commercial space, especially office space, may attract plenty of buyers. He adds that modern buyers prioritize quality projects near an MRT station and convenient access to essential amenities. The Golden Mile Singapore is just 1km from the Kallang Alive Precinct, the Bras Basah-Bugis district, and a 10-minute drive from the CBD.

The last launch in the neighborhood was the 558-unit Midtown Modern in 2021, which is 100% sold with an average price of $2,825 psf and expected to obtain TOP this year. Its launch was preceded by the neighboring 522-unit The M in 2020, which is also completely sold at an average price of $2,528 psf and was completed in March 2024. Guoco Midtown’s 219-unit Midtown Bay, launched in 2019, also boasts an impressive 63% of units sold as of Feb 5 at an average price of $3,090 psf.

Considering Aurea’s prime location, upscale residences, and Golden Mile’s architectural heritage, PropNex’s CEO Gafoor predicts that prices of the apartment units could cross $3,000 psf. He believes that with most units from past launches in the district sold, there may be pent-up demand for new homes in the area, making Aurea a highly sought-after property for homebuyers and investors. Aurea is expected to be completed in 2Q2029.…