Month: March 2025

In the week from Feb 16 to 21, a 1,238 sq ft, three-bedroom unit at One Holland Village Residences set a new psf-price high of $3,781 psf. The unit was sold for $4.68 million on Feb 17, making it the first transaction at the condo this year. This surpasses the development’s previous record price of $3,426 psf from a developer sale in August 2022.The second highest psf-price for the week came from boutique condo Hill House, where a 452 sq ft, two-bedroom unit on the ninth floor sold for $1.538 million ($3,402 psf). This marks the second consecutive week that Hill House has set a new price peak, after a unit on the eighth floor sold for $1.536 million ($3,398 psf) on Feb 16. The third-highest psf-price came from the sale of a 732 sq ft, two-bedroom unit at Chuan Park for $2.04 million ($2,785 psf) on Feb 19.

Investing in a condo in Singapore offers numerous advantages, with one of the most significant being the potential for capital appreciation. Due to its strategic location as a global business hub and strong economic foundations, Singapore consistently experiences a high demand for real estate. This has resulted in a steady increase in property prices over the years, particularly for condos in prime locations. Savvy investors who time their entry into the market right and hold onto their properties for the long run stand to benefit from substantial capital gains. To explore this potential further, check out the variety of promising Singapore Projects available.…

Singapore boasts a striking cityscape adorned with impressive skyscrapers and modern infrastructure. The sought-after Singapore Condos are strategically located in prime areas, offering a perfect blend of luxury and practicality that attracts both locals and foreigners. These residential complexes boast a range of top-of-the-line amenities, including swimming pools, fitness centers, and top-notch security services, elevating the overall standard of living. This makes them a highly desirable option for potential buyers and tenants alike. Moreover, for investors, these perks lead to higher rental returns and an increase in property values in the long term.

A three-storey terrace factory at Midview City is up for sale with Colliers International as its exclusive marketing agent. The property, located in the heart of Sin Ming Industrial Estate, is being offered at a guide price of $6.2 million or $688 psf.

With a basement and roof terrace, the 60-year leasehold property boasts a total strata area of approximately 9,009 sq ft. It is zoned as a “Business 1” site under the URA Masterplan 2019.

According to Colliers International, the property is currently fully-leased and has been approved for use as a childcare centre. It is currently occupied by Star Learner preschool and childcare centre.

Midview City, completed in 2012, is a 60-year leasehold light industrial building. It is conveniently located within walking distance of Bright Hill MRT Station on the Thomson-East Coast Line. It is also easily accessible from the Bishan and Upper Thomson residential areas, with two entrances via Sin Ming Lane and Bright Hill Drive.

According to Raphael Lee, director of industrial services at Colliers, this property presents “a rare opportunity” for investors given that it will be sold with the existing preschool operator in place. Plus, as a Business 1 light-industrial property, it is not subject to Additional Buyer’s Stamp Duty (ABSD) and can be purchased by foreigners.

Interested parties can participate in the EOI exercise until April 29 at 3pm through Colliers International.…

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Investing in a condo offers many advantages, including the potential for leveraging the property’s value for even more investments. Numerous investors utilize their condos as collateral to secure additional financing for new ventures, thus increasing their real estate portfolio. This approach can boost returns, but it also carries certain risks. Therefore, it’s essential to have a solid financial plan in place and carefully assess any potential impact of market fluctuations. Additionally, with the availability of New Condo Launches, investors can expand their portfolio even further with carefully selected investments.

Investors are showing increased interest in real estate markets in Asia Pacific that are highly liquid, according to Hamish MacDonald, Head and Chief Investment Officer of APAC Real Estate at BlackRock. This year, the property sectors poised to benefit from the region’s economic conditions are accommodations, logistics, and alternative assets. “Australia, Japan, Singapore, and Auckland in New Zealand are the markets in this region with high liquidity this year. This is also the order of priority for BlackRock this year,” says MacDonald. He expects investor sentiment to be more positive this year compared to 2023 and 2022, with institutional investors initiating more discussions about investing and recycling capital in selected real estate markets in Asia Pacific. In Singapore, BlackRock has been focusing on acquiring serviced apartment properties, such as partnering with YTL Corp to purchase Citadines Raffles Place for around $290 million in October last year. This came after the firm joined forces with Hong Kong-based accommodation operator Weave Living to buy Citadines Mount Sophia for $148 million in February 2024. Weave Suites – Hillside, the first Weave Living-operated property, reopened this week as a 175-room hotel. “Our recent acquisitions in Singapore reflect our belief that there is a shortage of new serviced apartments in the city-state, but demand for such accommodation is high,” says MacDonald. He adds that the focus is not on building a portfolio, but instead on targeting specific deals. “We prefer existing properties that we can refurbish and reposition with the help of a partner, as well as add value by introducing new amenities,” he says. According to MacDonald, Singapore continues to attract substantial inflows of capital and highly skilled labour, thanks to the country’s strong business growth. “We are very positive about the opportunities in Singapore.” Regarding Japan, MacDonald says that it will remain a preferred destination for many real estate investors this year. “We are optimistic about the Japanese economy, based on our analysis of domestic pricing power, wage growth, and corporate reform, which collectively support real estate growth.” In recent quarters, a combination of factors, such as wage hikes and increased construction costs, has boosted residential rents in Japan. Daigo Hirai, Head of Japan Real Estate at BlackRock APAC, says that rents in major Japanese cities, such as Tokyo and Osaka, are expected to rise by 7% to 8% this year. Furthermore, tenants are increasingly opting for larger apartments rather than compact studios, according to Hirai. BlackRock intends to collaborate with a seasoned accommodation operator to manage a mixed residential investment strategy that caters to both inbound tourist accommodation needs and domestic rental demands. This will allow BlackRock to expand its investment presence in popular tourist cities such as Kyoto and Fukuoka. “Types of assets that fit this strategy are those located near train stations in residential-commercial districts such as Osaka’s Namba area, as well as smaller developments with up to 50 units,” says Hirai. He adds that the company will be looking at properties in the range of JPY1 billion ($8.93 million) to JPY3 billion to facilitate its exit strategy. “The key to our business in Japan is to deploy specialised teams that can identify potential assets at a significant discount,” says MacDonald, who adds the firm’s focus in Japan is on residential assets. Elsewhere, long-term population growth projections continue to support positive long-term growth in most sectors of the Australian real estate market, according to Ben Hickey, Head of Australia Real Estate at BlackRock. “Most property sectors in Australia are usually characterised by low vacancy rates and undersupply.” Any investment strategy in Australia should take into account whether rent growth can exceed inflation, the ongoing long-term supply-demand imbalance, and a favourable exit strategy, according to Hickey. As a result, the firm is emphasising niche asset types in Australia, such as childcare properties, last-mile logistics assets, life science real estate, and self-storage properties. According to Hickey, these four asset classes are benefiting from long-term population growth in Australia and are “extremely undersupplied” in comparison to the wider regional markets. “This allows us to generate above-average returns with minimal risk; we cannot rely on a favourable interest rate outlook to generate real estate returns.”…

Selecting a favorable location is crucial when it comes to real estate investment and this holds especially true in Singapore. The location of a condominium has a significant impact on its value, making it an important factor to consider. It is common knowledge that properties situated in central areas or near essential amenities like schools, shopping malls, and public transportation hubs have exhibited a consistent increase in value. In Singapore, locations like Orchard Road, Marina Bay, and the Central Business District (CBD) have always been a top choice for investors due to their prime positioning. Furthermore, condos near renowned schools and educational institutions have become highly sought-after by families, making them even more attractive as investments. The constant emergence of new condo launches in these coveted areas only adds to the investment potential of these properties. Therefore, if you are looking to invest in real estate, it would be wise to keep an eye out for new condo launches in these prime locations for a lucrative opportunity. For more information on upcoming condo launches, please visit New Condo Launches.

If you have visited a show flat in recent years, you may have noticed that the unit sizes seem to be smaller. This is understandable, as our perception of size is often influenced by what we are accustomed to.

In the past, the average size of homes in Singapore, whether HDBs or condos, was larger in the 1990s and 2000s. For instance, the average size of a new condo was 1,272 sq ft in 1995, 1,286 sq ft in 2005, and 858 sq ft in 2015. However, as demographics have changed, with the average household size decreasing from four in 1995 to 3.1 in 2024, the average unit size has also decreased.

In fact, over the last 29 years, the average size of condos per capita has shrunk by 5.7%, which is commendable given the limited land space in Singapore. This reduction in size would not have been possible without the intervention of the government. In 2008, a number of condo projects in the Rest of Central Region (RCR) started offering smaller units, with the smallest being 24 sq m (258 sq ft). This significantly reduced the barriers to entry into property investment, with units selling for as low as $375,000.

The popularity of these “Mickey Mouse” units led to an increase in their supply in subsequent years. However, there were concerns about the impact of these smaller units on the overall living environment in Singapore. As a result, the Urban Redevelopment Authority (URA) issued guidelines in 2011, regulating the maximum number of dwelling units (DUs) in a development. The URA required developers to use an average size of 70 sq m to determine the maximum number of DUs in projects outside the Central Area. In some areas with more restricted land space, such as Telok Kurau, Kovan, Joo Chiat, and Jalan Eunos, the average unit size had to be at least 100 sq m. This regulation came into effect in January 2012.

However, despite these efforts, the average DU size continued to decline over the next few years, putting pressure on infrastructure in areas with limited road capacity. In response, the URA tightened their guidelines in January 2019, resulting in an increase in the average DU size by 21.4% from 2015 to 85 sq m. This helped to arrest the decline in average DU size outside the Central Area, which reached a low of 804 sq ft in 2018. By 2024, the average DU size had further increased to 935 sq ft.

However, the Central Area saw an increase in the construction of smaller units, which went against the URA’s goal of making it an attractive area for living, working, and playing. To address this issue, the URA extended their guidelines to the Central Area in January 2023, requiring all projects to have at least 20% of their DUs with a net internal area of at least 70 sq m.

Another guideline change in June 2023 was the harmonization of the strata area and gross floor area (GFA) definition. This meant that certain areas, such as air-conditioning ledges, would now be counted as part of the strata area if they were exclusive to a unit. As a result, some developers chose to omit these ledges in their unit designs, leading to a decrease in the average DU size by 6%.

Across different market segments, the Rest of Central Region (RCR) saw the most significant increase of 19.5% in average size to 944 sq ft. This was likely due to the more stringent control of 100 sq m on the average DU size, which affected the RCR more than other areas. In the Outside Central Region (OCR), the average DU size also improved by 5.8% to 898 sq ft, while in the Core Central Region (CCR), it declined by 11.7% to 1,092 sq ft.

It may take some time before the impact of the guidelines on average DU size in the Central Area is fully felt. However, it is unlikely that the average DU size will go back to its 2015 level. This is because, in recent years, local buyers have made up about 75% of the buyers in the Core Central Region, and they tend to prefer more compact units. To avoid paying Additional Buyer’s Stamp Duty on unsold units, developers have had to reconfigure their designs and layouts, resulting in smaller units.

Despite these changes, it is worth noting that the average DU size in 2024, at 929 sq ft, was still 8.3% larger than in 2015. This is due to the provision of better fittings and features, such as smart home technology and high-end appliances, which are now considered basic in new condo developments. With these improvements, buyers are getting better value for their purchases compared to 10 years ago.

In conclusion, although the average size of units in Singapore has decreased in recent years, it is commendable that the government has taken measures to regulate the size of units and maintain a good living environment. With the latest harmonization of GFA definitions, it is likely that the average DU size may continue to decrease in the future. However, buyers can still expect to get better value for their purchases with the provision of high-end features and appliances in new developments.…

The demand for Condo investments in Singapore has witnessed a remarkable increase, with a growing number of local and international investors showing keen interest. And it’s no wonder why, as Singapore boasts a strong economy, stable political environment, and exceptional living standards. With a diverse real estate market, Condo properties have emerged as a top choice for investors, offering convenience, amenities, and potential for high returns. In this article, we will discuss the perks of Condo investments, crucial factors to consider, and the essential steps that prospective investors need to take to tap into this flourishing sector in Singapore. As the demand for Condo properties continues to soar, this article serves as a valuable guide for those interested in this investment opportunity.

The Ministry of National Development (MND) has recently announced improvements to the Silver Housing Bonus (SHB) and Fresh Start Housing Scheme (Fresh Start) in this year’s Committee of Supply debate. These changes aim to support senior citizens in downsizing and improve access to public housing for lower-income households in HDB rental flats.

Eligibility for the SHB currently requires applicants to be at least 55 years old, have a monthly income below $14,000, own a property with an Annual Value (AV) not exceeding $21,000, and purchase a replacement HDB flat of three rooms or smaller (excluding three-room terrace).

Under the existing SHB scheme, applicants can receive a cash bonus of up to $30,000 by topping up their CPF Retirement Account (RA) with up to $60,000. This amount is prorated at $1 for every $2 top-up made into their RA.

Effective from December 1, 2019, seniors can qualify for the SHB cash bonus if their downsizing results in an overall increase in their CPF RA balance from any source, including CPF housing refunds. This means that those with outstanding loans on their residences using their CPF accounts may no longer need to make a cash top-up to be eligible for the SHB.

Additionally, the SHB has been expanded to include seniors who own higher-valued properties. Applicants who own properties with an AV of more than $21,000 but less than or equal to $13,000 can now qualify for the scheme. This change is estimated to benefit around 15,000 more seniors. The cash bonus received will be prorated at a rate of $1 for every $6 increase in their RA balance, up to $60,000. Successful SHB applicants who right-size to a two-room or smaller HDB flat (including Community Care Apartments) will also receive a non-prorated cash bonus of $10,000.

Seniors can apply for the SHB within a year of their second property transaction. Therefore, seniors who have completed their downsizing after December 1, 2024, can apply for the SHB under the updated scheme on December 1, 2025.

The Fresh Start Housing Scheme, which was launched in 2016, provides financial assistance and social support to Second Timers (ST) families who have previously bought a subsidised HDB flat, with the goal of helping them achieve homeownership.

Under the current scheme, applicants can purchase two-room flexi or three-room standard BTO flats with shorter leases, typically ranging from 45 to 65 years. These leases must last until the youngest owner turns 95, and the flats are subject to an extended Minimum Occupation Period of 20 years, compared to the usual five years.

The enhancements to the scheme include an increase in financial support. Eligible families will now receive $75,000 from the Fresh Start Housing Grant, up from the previous amount of $50,000. The new grant includes an initial disbursement of $60,000 credited to the applicant’s CPF Ordinary Account (OA) before the key collection date, with the remaining $15,000 disbursed over the next five years to support mortgage payments.

Furthermore, the eligibility criteria for the scheme have been expanded to include First-Timer (FT) families. While FT families are not eligible for the Fresh Start Housing Grant as they are eligible for the larger Enhanced CPF Housing Grant (EHG) of up to $120,000, they will still benefit from the reduced cost of shorter-lease BTO units and the social support offered by the programme.

FT families can apply for the Fresh Start scheme starting from April 2025, while the updated Fresh Start Grant amount will be implemented from the July 2025 BTO exercise.…

The Ministry of National Development (MND) has recently announced revisions to the Additional Buyer’s Stamp Duty (ABSD) regime for licensed housing developers. These changes will take effect on March 6th.

One of the main revisions is an extension of the ABSD remission timeline for developers undertaking complex projects. Previously, this timeline was six months, but it has now been extended to 12 months. This move aims to encourage developers to take on urban transformation developments, optimise land use through intensification or integration, rejuvenate older estates, or adopt new construction technologies.

The extended timeline will apply to projects such as en bloc redevelopments that will yield at least 700 units upon completion, and have at least 1.5 times the number of homes of the existing development. Other projects include those with complex technical or instructional requirements, such as projects integrated with major public transport facilities.

Additionally, projects approved under the Strategic Development Incentive (SDI) scheme and those aiming to achieve higher productivity targets through the adoption of new construction technologies, methodologies, or practices will also be eligible for the extended timeline.

Depending on the category, these projects will receive either a six-month or one-year extension. These changes will apply to all residential land acquired on or after March 6th.

Currently, licensed housing developers purchasing residential redevelopment sites are subjected to a 5% ABSD upfront, which is non-remittable, and another 35% ABSD, which is remittable when the developer completes and sells all the units in the project within a five-year timeframe.

The latest revisions come after changes were announced in February last year, which offered a lower clawback rate for residential developments with at least 90% of units sold.

PropNex Realty CEO, Ismail Gafoor, believes that such extensions will give developers more flexibility and may help mitigate development risks. This is especially true for mega projects, as they will have more time to sell units.

Huttons Asia’s Senior Director of Data Analytics, Lee Sze Teck, says that the ABSD revisions will provide a much-needed boost to the en bloc market, especially for larger en bloc projects.

When purchasing a condominium, it is crucial to take into account the maintenance and management of the property. Condos usually require maintenance fees that encompass the maintenance of communal spaces and amenities. Although these fees may increase the overall expense of ownership, they play a vital role in preserving the property’s value and condition. To assist in handling the routine management of their condos, investors can enlist the services of a property management company, making it a less involved investment. Consider checking out Singapore Projects for more information.

However, OrangeTee Group’s Chief Researcher and Strategist, Christine Sun, believes that developers may still face challenges despite the deadline extension. This is due to other factors, such as the willingness of buyers and sellers to negotiate prices.

ERA’s Managing Director of Capital Markets and Investment Sales, Tay Liam Hiap, believes that this could be an opportune time for older projects, like Braddell View and Pine Grove, to explore en bloc opportunities. These projects may yield about 2,000 new homes, which could take longer to sell. Thus, the six to 12-month extension may not be sufficient for developers to sell out their projects.

Overall, while the policy change may not spark a revival in the en bloc market, PropNex’s Ismail Gafoor expects developers to continue to be cautious due to the high cost of redevelopment, ample oncoming private housing supply, and potential policy risks.…

The Land Transport Authority (LTA) is currently conducting feasibility studies for two proposed MRT lines. These new lines, which are expected to be completed in the 2040s, may potentially serve over 400,000 households.

One of the proposed lines, the Seletar Line, is planned to run through Woodlands, Sembawang, Sengkang West, Serangoon North, Whampoa, Kallang, and the Greater Southern Waterfront. Meanwhile, the second line, temporarily named the Tengah Line, aims to supplement the transport network in the west and northwest regions by serving areas such as Tengah, Bukit Batok, Queensway, and Bukit Merah.

Transport Minister Chee Hong Tat mentioned in a speech to parliament on March 5 that the Seletar Line and Tengah Line could potentially be connected, depending on the results of LTA’s feasibility studies. He also announced that LTA will proceed with the West Coast Extension (WCE), which extends the Jurong Region Line (JRL) to connect with the Circle Line (CCL) and Cross Island Line (CRL).

The WCE will be implemented in two phases, with the first phase connecting Pandan Reservoir Station to the CRL by the late 2030s. The second phase aims to connect the West Coast Station to the CCL’s Kent Ridge Station by the early 2040s. This extension will provide residents travelling from the West with time savings of up to 20 minutes when going to the city centre.

When it comes to real estate investments, one factor that cannot be overlooked is location. This rings especially true in Singapore, where the value of condos is greatly influenced by their location. In fact, condos situated in central areas or close to important amenities such as schools, shopping malls, and public transportation hubs have a tendency to appreciate in value. Some prime locations in Singapore, including Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown growth in property values over time. This is partly due to their convenient proximity to essential facilities and services. Additionally, condos in these areas are highly sought after by families due to their close proximity to good schools and educational institutions, making them even more attractive as investments. Therefore, when considering investing in real estate in Singapore, one should carefully consider the location and its potential for growth and returns. Condos found in highly desirable areas will likely offer a promising investment opportunity.

In addition to these plans for new MRT lines, Chee also announced the government’s intentions to invest up to $1 billion over the next five years to maintain high-reliability standards for both newer and older train systems. This investment will go towards condition monitoring systems, new technologies to improve rail maintenance, and workforce training programmes for rail workers.

LTA believes that these efforts to expand the rail network, enhance asset management, and train the workforce will ensure convenient, reliable, and resilient public transport for commuters in the future.…

When purchasing a condominium, it is crucial to take into account the maintenance and management of the property. Condos usually have maintenance charges that cover the maintenance of shared spaces and amenities. Though these fees may increase the total ownership cost, they also guarantee that the property remains in excellent condition and maintains its value. Hiring a property management firm can assist investors in dealing with the daily tasks of managing their condos, making it a less hands-on investment. For updates on the latest condo developments, check out our website.

ERA Realty Network, the appointed marketing agent for Elias Green, has announced that the 99-year leasehold condo in Pasir Ris will be launched for collective sale on March 6. The property, which has a guide price of $928 million, is set to be one of the biggest en bloc sales in the area.

Built in 1994, Elias Green occupies a land area of approximately 516,871 sq ft and is zoned for residential use with a gross plot ratio of 1.4. The development comprises several blocks and has a total of 419 apartments with sizes ranging from 1,367 to 1,636 sq ft. With a remaining lease of 65 years, which started in 1991, the property holds great potential for redevelopment.

According to ERA, the guide price of $928 million translates to a land rate of $1,355 psf per plot ratio (ppr). This price includes an estimated land betterment charge of $150.8 million for intensification and a top-up to a fresh 99-year lease. It also takes into account a 10% bonus gross floor area, making it an attractive investment opportunity for developers.

ERA also revealed that the owners of Elias Green are in the process of submitting an Outline Application to the Urban Redevelopment Authority (URA) for a residential development with a gross plot ratio of 1.8. If approved, the potential land rate for the development would be approximately $1,245 psf ppr.

If the collective sale is successful, owners can expect to receive gross sale proceeds between $2.04 million and $2.31 million per unit, depending on unit size. Tay Liam Hiap, managing director of capital markets and investment sales at ERA Singapore, notes that Pasir Ris Town is undergoing significant improvements as part of the Housing and Development Board’s “Remaking Our Heartland” initiative, which will enhance its vibrancy and connectivity.

With the anticipated completion of the Pasir Ris Bus Interchange by 2025 and the future Pasir Ris Integrated Transportation Hub, which will include the Cross Island Line (CRL) scheduled to be operational by 2030, connectivity in the area will be further improved. This makes Elias Green a highly sought-after location for developers.

This will be the second attempt by owners of Elias Green to launch a collective sale, with the first attempt being in 2018 when the property was put on the market for $780 million. The current guide price of $928 million represents a 19% increase from the previous attempt.

The public tender for Elias Green will close on April 22 at 2pm. Interested parties can check out the latest listings for Elias Green properties and other similar offerings, such as condo projects with the most expensive average PSF in District 18, past successful condo rental transactions in the area, most unprofitable landed transactions in the past year, as well as upcoming new launch projects and past condo rental transactions.…

Owning a condominium in Singapore offers many benefits, one of which is the potential for significant capital appreciation. With its strategic position as a thriving business hub and solid economic foundations, Singapore remains a highly sought-after location for real estate investments. Property prices in the country have consistently risen over the years and condos in prime areas have particularly experienced substantial appreciation. By investing at the right time and holding onto their properties for the long run, investors can reap the rewards of considerable capital gains. In addition, exploring Singapore Projects adds even more potential for profitable returns on condo investments.

Nov 16, 2025Residential and commercial development at Media Circle (Parcel A) GLS site awarded to Qingjian-Forsea consortium The tender for Media Circle (Parcel A), a 99-year leasehold Government Land Sale (GLS) site located in the one-north area, closed on March 4. The winning bid of $315 million was submitted by a consortium comprising Qingjian Realty, Forsea Holdings and minority investor Hoovasun Holding. The consortium’s successful bid translates to a land rate of $1,037 psf per plot ratio (ppr) for the 82,125 sq ft site that is zoned for residential use with commercial at the first storey. The site has the potential to yield about 325 housing units with a maximum gross floor area of 303,865 sq ft. The development, which will be the third joint venture between Qingjian and Forsea, is set to feature two high-rise residential towers and commercial spaces on level 1. This project marks a significant step in the development of high-quality residential communities in the one-north area, which is often referred to as Singapore’s “Silicon Valley”, says Du Dexiang, managing director of Qingjian Realty. Wang Xin, director at Forsea Holdings, adds that this project is a testament to the company’s commitment to developing in line with the growth of one-north. The tender for Media Circle (Parcel A) attracted a total of three bids, with Qingjian-Forsea consortium’s bid being 5.7% higher than the next bid submitted by EL Development at $298 million, or $981 psf ppr. SingHaiyi Group submitted the lowest bid of $295 million, or $971 psf ppr. While the winning bid is lower than the land rate paid for a neighbouring GLS site by the same partners in January 2014, it still reflects their confidence in the demand for residential homes in the one-north area. According to Lee Sze Teck, senior director of data analytics at Huttons Asia, if the bid is awarded, Qingjian and Forsea will have significant influence in determining the supply and pricing of new homes in the area. The neighbouring GLS site awarded to the consortium has already been developed into the 358-unit Bloomsbury Residences, and the developers will be looking to make similar strides in the transformation of Media Circle. The one-north area, which is home to many expatriates due to the presence of Science Park and the nearby Tanglin Trust School, also has a limited supply of non-landed residential properties, notes Lee. With the low unsold units in the area, the consortium’s upcoming project is expected to be well received by buyers. The site for Media Circle (Parcel A) was launched for sale in November 2014 together with an adjacent plot, Media Circle (Parcel B), which has yet to be awarded. The tender for Parcel B will close on April 29. Additionally, under the Reserve List of the 1H2015 GLS Programme, there is another Media Circle site designated for long-stay serviced apartments, with an estimated yield of 520 residential units and retail spaces. According to Leonard Tay, head of research at Knight Frank Singapore, the future project at Media Circle (Parcel A) will likely have an average selling price of $2,300 psf. Despite being situated in a quieter section of one-north business park, it is within walking distance to Mediapolis, making it an attractive location for workers in the media and entertainment industries. With limited supply and strong demand from quality tenants, buyers can expect good rental yield from this development.…

Hotel Properties Ltd (HPL), a prominent player in the real estate and hospitality industry, is set to expand its global presence through the acquisition of InterContinental Auckland for NZ$180 million ($138.5 million). This marks HPL’s first venture into New Zealand and its second InterContinental property purchase after InterContinental Maldives Maamunagau Resort.

The limited availability of land is one of the main driving forces behind the high demand for condos in Singapore. As a small island nation experiencing a rapid population growth, Singapore is faced with a scarcity of land for development. To address this issue, strict land use policies have been implemented, resulting in a highly competitive real estate market where property prices continue to rise. As a result, investing in real estate, specifically in Singapore Condos, has become a highly lucrative opportunity, with the potential for significant capital appreciation.

The acquisition, which was facilitated by JLL’s Asia Pacific Hotels & Hospitality Group, is considered the largest single hotel asset sale in New Zealand. Precinct Properties, a New Zealand-based company, was the seller in this off-market transaction.

HPL’s latest addition to its portfolio comes on the heels of the successful launch of The Boathouse Tioman in Malaysia, featuring 31 bungalows, and the 176-room The Four Seasons Hotel Osaka in Japan last year. These developments signal the company’s expansion plans in the region and its commitment to providing luxury hospitality experiences in key markets.

HPL’s chairman of hotels and resorts, Stephen Lau, expresses excitement over the acquisition, stating that it is a rare opportunity to acquire a premium asset in New Zealand. He also highlights the property’s strategic location, situated in the dynamic NZ$1 billion Commercial Bay lifestyle precinct, which opened in January 2024. With its breathtaking views of the Waitematā Harbour, the hotel’s 139 rooms offer an unparalleled experience for guests.

Moreover, Lau points out that there is potential for the property to expand its room capacity to 190 by repurposing existing office space, should there be a future demand for it. This is indicative of HPL’s commitment to adapt to changing market needs and cater to the evolving preferences of its guests.…