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During the week of Dec 27 to Jan 3, Commonwealth Towers emerged as the top private non-landed property to reach a new psf-price peak. The 99-year leasehold condominium recorded a new price high of $2,460 psf on Dec 27, when a three-bedroom unit on the 40th floor was sold for $2.22 million. This surpasses the previous high of $2,402 psf set just three months ago, when a two-bedroom unit on the 42nd floor was sold for about $1.65 million in September 2024.

Commonwealth Towers has been experiencing an upward trend in its average resale prices for the past three years. In 2022, the project had an average psf-price of $1,971 and recorded 53 transactions. This increased to $2,097 psf in 2023, with 51 resale transactions. Last year, there were 37 resale transactions at an average price of $2,200 psf, marking an 11.6% increase in average resale prices since 2022.

The most expensive unit to change hands at Commonwealth Towers was a four-bedroom unit on the 39th floor, which sold for $2.96 million or $2,273 psf in November 2024.

Built in 2017, Commonwealth Towers is a 99-year leasehold condo with 87 years remaining on its tenure. It consists of two 43-storey residential blocks with 845 condo units ranging from one to four bedrooms, spanning 441 sq ft to 1,302 sq ft.

Parq Bella, a boutique freehold project on Tembeling Road in District 15, took the second spot on the list of private residential projects to see a new psf-price peak during the period in review. The development achieved a new psf-price high of $2,416 psf when a three-bedroom unit on the fourth floor was sold for $2.6 million on Dec 31. This also marks the first transaction at Parq Bella to surpass $2,400 psf.

The previous psf-price record at Parq Bella was set in August 2023, when a two-bedroom unit on the fourth floor was sold for $2.2 million or $2,385 psf.

Parq Bella has 20 apartments ranging from two to four bedrooms, with floor plans spanning from 926 sq ft to 1,787 sq ft. The project is expected to be completed by December 2026 and has recorded five new sale transactions last year at an average price of $2,347 psf. Since its launch in 3Q2023, Parq Bella has sold 19 out of 20 units (95%) at an average price of $2,244 psf, based on caveats lodged as of Jan 14.

Klimt Cairnhill, a freehold luxury project, was the only private residential development to see a new psf-price low during the period in review. The record floor came from the developer’s sale of a two-bedroom unit on the 24th floor for $2.55 million on Jan 3, translating to $3,077 psf.

Klimt Cairnhill has a total of 138 apartments in two- to four-bedroom configurations, with sizes ranging from 829 sq ft to 2,368 sq ft. The project achieved 100% sales at an average price of $3,665 psf, based on caveats lodged. It was previewed in August 2021 and officially launched in January 2023.

Located along Cairnhill Road in Prime District 9, the development also has two penthouses of 4,898 sq ft and 5,920 sq ft. It is expected to obtain its Temporary Occupation Permit in April this year.

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The ever-increasing popularity of condominiums in Singapore can be attributed to a significant factor – the limited availability of land. As a small island country with a rapidly growing population, Singapore is facing a critical challenge in terms of land scarcity for development. To combat this, strict regulations on land use have been put in place, resulting in a highly competitive real estate market and constantly rising property prices. This has created an ideal environment for real estate investment, particularly in condos, which offer the potential for substantial capital appreciation. As the demand for condos continues to skyrocket, they remain a highly coveted asset in Singapore’s dynamic and thriving real estate industry. Condo continues to be a lucrative investment option in the country.…

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Housing Development Board (HDB) has announced that they will be launching over 25,000 new flats in 2025, according to a joint press release by HDB and the Ministry of National Development (MND) on January 16. This includes about 19,600 build-to-order (BTO) flats across three sales exercises and more than 5,500 sale of balance flats (SBF) in one SBF sale exercise. The units will be a mix of Standard, Plus, and Prime BTO flats under the new classification framework.

The February BTO launch will offer approximately 5,000 flats in Kallang/Whampoa, Queenstown, Woodlands, and Yishun. Next month, HDB will also conduct its largest-ever Sale of Balance Flats (SBF) exercise, offering over 5,500 flats across various estates. About 40% of the flats in the SBF exercise are completed units, while the rest are at different stages of construction and are expected to be completed between 2025 and 2028.

In total, more than 10,000 new flats will be available under the February BTO and SBF exercises. Over the last four years, from 2021 to 2024, HDB has launched about 82,700 BTO flats. With a planned pipeline of 19,600 BTO flats in 2025, HDB is on track to launch around 102,300 BTO flats—exceeding its commitment of 100,000 units over five years.

The increase in BTO supply has led to a drop in application rates. In 2024, the average application rate among first-time homebuyers for BTO across all flat types was 2.1, compared to the pre-pandemic rate of 3.7 in 2019. The average first-timer application rate last year for three-room and larger flats was 2.2, down from 4.0 in 2019.

HDB will continue to release a steady pipeline of flats to meet housing demand in the next few years, says Minister for National Development Desmond Lee. Over 50,000 flats will be launched between 2025 and 2027, bringing the total to about 130,000 flats from 2021 to 2027.

About 3,800 of the 19,600 new flats, or about one-fifth of the BTO flats slated for launch in 2025, will be Shorter Waiting Time (SWT) flats of less than three years. This is a boost from the 2,876 SWT flats offered in 2024 and more than the committed annual supply of 2,000 to 3,000 SWT flats. “The SWT flats will also increase the options for buyers and may attract some demand away from the resale market,” says Lee Sze Teck, senior director of data analytics at Huttons Asia.

In 2025, Lee estimates that about 7,000 HDB flats will reach their five-year minimum occupation period (MOP), making it the lowest supply of such resale flats since 2015. “With HDB assuring buyers that they will push out more BTO and SBF flats to meet demand, this will offer more choices for buyers and stabilise the resale market,” he says. “This larger flat supply and SWT flats will address the shortfall in MOP flats.”

Huttons’ Lee estimates that HDB resale flat transactions in 2025 will range between 26,000 and 28,000, lower than the 28,876 units recorded last year. Resale flat prices are expected to grow at a slower pace of 5% to 8% this year, compared to the 9.6% increase reflected in HDB’s flash estimate for 2024.

When purchasing a condominium, it is crucial to factor in the maintenance and management of the unit. Condos usually have fees for maintenance, which encompass the maintenance of shared spaces and amenities. Although these fees may increase the total cost of owning a condo, they also guarantee that the property is well-maintained and retains its value. Hiring a property management firm can assist investors in managing their condos on a daily basis, ensuring a more hands-off investment. Check out Singapore Projects to learn more about condo investments.…

The recent sale of a three-bedroom penthouse at Orchid Mansion, located on Amber Road in District 15, proved to be highly profitable for the seller. The freehold development saw a resale transaction on Dec 31, resulting in a profit of $2.58 million (112%). This was the most profitable transaction between Dec 31, 2024, and Jan 7, 2025.

Spanning over 2,842 sq ft on the 21st floor, the unit was sold for $4.88 million ($1,717 psf). It was purchased for $2.3 million ($809 psf) in March 2009, making the annualized profit 4.9% over a period of nearly 16 years. This sale also sets the record for the most profitable resale transaction at Orchid Mansion, surpassing the previous record of $1.15 million (72.6%), when a 1,507 sq ft three-bedroom unit on the seventh floor was sold for $2.73 million ($1,812 psf) in July 2022. This unit was bought for $1.58 million ($1,050 psf) in June 2007.

In other news, a 1,625 sq ft unit at Villa Marina was also sold for a handsome profit of $1.72 million (273%) on Jan 3. The three-bedroom unit on the ground floor was sold for $2.35 million ($1,446 psf), after being purchased for $630,500 ($388 psf) in September 2006. This translates to an annualised profit of 7.6% over 18 years, as well as surpassing the previous record of $1.58 million (219%) for the sale of a 1,916 sq ft unit on the fourth floor, which was sold for $2.3 million ($1,200 psf) on July 16 last year. This unit was previously bought for $720,416 ($376 psf) in November 1998.

Villa Marina, a 99-year leasehold development located at Jalan Sempadan in District 15, boasts 27 low-rise residential blocks with a mix of one- to four-bedroom units ranging from 1,087 sq ft to 2,314 sq ft. The 460,685 sq ft site is situated close to Siglap MRT station on the Thomson-East Coast Line and East Coast Park, and is also in close proximity to several primary schools.

When purchasing a condo, it is crucial to take into account the maintenance and management aspects of the property. Condominiums usually have maintenance fees that cover the maintenance of shared facilities and common areas. Although these fees may increase the overall cost of owning a condo, they also guarantee that the property is well-maintained and maintains its value. A recommended option for investors is to utilize the services of a property management company, which can effectively handle the day-to-day management tasks of their condos, freeing up time for a more passive investment. Additionally, for a wide selection of Singapore projects, take a look at our website.

On the other hand, the most unprofitable resale transaction of the week occurred on Jan 2, when a 1,130 sq ft unit at Marina Bay Residences was sold for a loss of $386,000 (16%). The two-bedroom unit on the 17th floor was sold for $2.1 million ($1,858 psf), after being bought for $2.49 million ($2,200 psf) in November 2007. This translates to an annualised loss of 1% over 17 years.

In 2024, Marina Bay Residences recorded 25 resale transactions, with 13 resulting in unprofitable transactions ranging from $1.25 million to $43,600. The most unprofitable transaction involved a 1,227 sq ft unit, sold for $2.8 million ($2,282 psf) on March 22, 2024.

Based on a tabulation of resale caveats at Marina Bay Residences, the average resale price last month was $2,242 psf, higher than the average price at surrounding condos such as The Sail @ Marina Bay ($2,052 psf), Marina Bay Suites ($1,917 psf), and Marina One Residences ($2,133 psf).

Notably, Marina Bay Residences recently underwent a $5 million revamp from Jan 2022 to Sept 2023 to upgrade the facilities and common spaces throughout the 15-year-old condo. The 428-unit development is one of two 99-year leasehold luxury condos in Marina Bay Financial Centre, which also comprises three Grade-A office towers and the 221-unit Marina Bay Suites.…

City Developments Limited (CDL) has announced that it has divested assets worth more than $600 million last year as part of its capital recycling strategy, with several more in the pipeline.

The total amount of divested assets fell short of the company’s initial target of $1 billion set in early 2024, as market conditions dampened the volume of deals in most markets and asset classes.

The completed divestments include the Ransome’s Wharf site in London, the freehold 8-storey Cideco Industrial Complex in Singapore, as well as various strata units at Citilink Warehouse Complex, Cititech Industrial Building, Fortune Centre and Sunshine Plaza in Singapore.

When contemplating an investment in a condominium, it is crucial to also evaluate the potential rental yield. The rental yield refers to the annual rental income as a percentage of the property’s initial price. In Singapore, the rental yields for condos can vary significantly depending on a range of factors, including location, the condition of the property, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, offer more favorable rental yields. To gain a comprehensive understanding of the rental potential of a specific condo, it is essential to conduct thorough market research and seek advice from reputable real estate agents. For more information on potential investment opportunities, please visit Singapore Projects.

CDL had also announced the launch of The Orie, a joint project with Frasers Property and Sekisui House, in Toa Payoh with units priced from $1.28 million. The company has also divested its stake in Hong Leong City Centre, a mixed-use development in Suzhou, which is under contract and scheduled for completion in the current quarter.

According to Group CEO Sherman Kwek, the divestment of assets reflects the company’s focus on accelerating its capital recycling efforts. Despite the challenging market conditions, the company has managed to achieve good momentum and will continue to drive its divestment plans.

The company aims to optimize its capital management while aligning its portfolio with its strategic objectives and maximizing shareholder value. Completed divestment deals will help the company recycle its capital and fund future investments.

CDL’s shares closed at $5.05 on January 16, down 0.2% for the day and 20.97% down in the past year. The company has a track record of divesting non-core assets to focus on its core business and is expected to continue this strategy in the future.…

A two-storey bungalow located at 11 Whitley Road is now on the market, listed for sale through a tender process with a guide price of $31.88 million. This spacious property occupies an elevated 15,276.27 sq ft freehold site, translating to a price of $2,087 per sq ft of land.

Originally built in 2016, the bungalow has been recently renovated with the addition of a rear extension. It boasts five bedrooms, including three en suite, as well as two living rooms, two dining rooms, a fully-equipped kitchen, and a helper’s room.

The substantial land parcel has the potential for subdivision, allowing for the redevelopment of eight terraced houses. Each site would range from 1,614 sq ft to 2,389 sq ft, with a potential gross floor area (GFA) of 21,528 sq ft, subject to land betterment charges. According to Aric Lim, the associate district director of Huttons Asia, who is the exclusive marketing agent for the property, this could be an attractive option for developers.

In addition, Lee Sze Teck, the senior director of data analytics at Huttons Asia, shares that this is likely the largest plot of land available on Whitley Road. He also notes that the asking price of $2,087 psf based on land is very competitive when compared to recent transactions of new semi-detached houses along the same road, which have sold for over $3,000 psf.

Conveniently located, this property is just 700m away from Novena MRT Station and close to popular shopping destinations such as Velocity at Novena Square, Square 2, and United Square. It is also within proximity to Zhongshan Park.

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Condo investments in Singapore require careful consideration of the government’s property cooling measures. The Singaporean government has implemented several measures over the years to prevent speculative buying and maintain a steady real estate market. One such measure is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and buyers of multiple properties. While these measures may affect the immediate profitability of condo investments, they also promote the long-term stability of the market, creating a secure environment for investing in condos. Additionally, condos are a popular choice for investors due to their desirable location and amenities.

The tender for 11 Whitley Road will close on February 12. Interested buyers and developers have the opportunity to acquire this exceptional property in a highly sought-after area.…

GuocoLand, a leading property developer, has successfully secured two green financing facilities from DBS Bank and Oversea-Chinese Banking Corporation (OCBC). The first facility is worth $1.135 billion and will be used to refinance Guoco Midtown, while the second facility, valued at $105 million, will refinance Midtown Bay.

These green facilities have been raised under GuocoLand’s Green Finance Framework, which focuses on financing projects that promote sustainability and environmental responsibility. To date, the company has secured around $5 billion in green financing, including facilities for other developments such as Guoco Tower, Lentor Mansion, Lentor Modern, Midtown Modern, and the upcoming Upper Thomson Road Development.

The $1.135 billion green facility for the refinancing of Guoco Midtown is the largest to date for the property developer. According to Andrew Chew, Group CFO of GuocoLand, the move to refinance allows the company to optimize its capital structure while staying true to its commitment to creating sustainable and thoughtfully designed spaces that balance economic, environmental, and social factors.

In other news, Porsche Singapore Studio has recently opened its duplex showroom at Guoco Midtown, showcasing the latest luxury cars in the heart of the city. Additionally, Publicis Groupe has signed a lease for 55,000 sq ft of office space at Guoco Midtown’s office tower, adding to the growing list of prestigious tenants at the development.

Investing in a condo in Singapore comes with a host of benefits that make it a lucrative option. The country’s real estate market is always in high demand, which means that owning a condo there can bring in significant returns. Moreover, the potential for capital appreciation is promising, making it an attractive investment choice.

However, before diving into the world of condo investments, it is crucial to consider various factors carefully. Location plays a crucial role in determining the success and profitability of a condo, so it’s essential to select wisely. Additionally, financing, government regulations, and market conditions should also be taken into account before making any investment decisions.

To make the most out of this dynamic real estate market, it is vital for investors to conduct thorough research and seek professional advice. By doing so, they can make informed decisions and maximize their returns in the Singapore market. Whether you’re a local investor looking to diversify your portfolio or a foreign buyer seeking a stable and profitable investment, condos in Singapore present a compelling opportunity. Condos in this bustling country offer a secure and beneficial option that should not be overlooked.

Overall, Guoco Midtown has attracted a lot of attention and has proven to be a popular choice for both businesses and luxury brands. With its focus on sustainability and creating a vibrant and inclusive community, Guoco Midtown is set to be a prominent landmark in Singapore’s ever-evolving landscape.…

Roxy Square, a freehold mixed-use development located in the heart of Katong, is set to be relaunched for collective sale. According to the press release by marketing agent JLL, the development will comprise 296 shops, 26 apartments, and the 576-room Grand Mercure Roxy Hotel.

Originally launched for tender in July 2019 at a minimum price of $1.25 billion, the tender closed on Sept 26, 2019. However, owners of the development are currently in the process of signing a supplemental agreement to lower the collective sale price by 10.8% to $1.115 billion. This proposed lower price would require at least 80% of owners’ support to take effect. Currently, over 70% of owners are already in favour of the lower price.

A major benefit of investing in a condominium in Singapore is the potential for significant growth in property value. Singapore’s prime location as a global business hub, combined with its robust economic foundation, continuously drives the demand for real estate. Throughout the years, the real estate market in Singapore has consistently displayed an upward trend, resulting in considerable appreciation for premium condo locations. Savvy investors who enter the market at an opportune time and retain their properties for the long run can reap the rewards of substantial capital gains. For more information on promising Singapore projects, visit one-mind-one-energy.com.com.

Under the new price, Roxy Square is expected to have a unit land rate of $1,852 per square foot per plot ratio (psf ppr), which includes a Land Betterment Charge (LBC) at the gross plot ratio of about 3.86. If factoring in an additional 10% bonus gross floor area (GFA) for the residential component and the LBC, the land rate will be reduced to $1,804 psf ppr, according to JLL.

Tan Hong Boon, JLL Singapore’s executive director of capital markets, says that the private residential market in Katong has strong underlying support. Recent launches in the area like Meyer Blue and Emerald of Katong have shown impressive sales, boosting developers’ confidence in Roxy Square’s potential. Additionally, Roxy Square’s appeal is enhanced by its location next to Marine Parade MRT Station (Thomson-East Coast Line) with a direct underground connection.

The development’s freehold tenure, established and well-loved heritage locale, and excellent connectivity to amenities further add to its appeal. Completed in 1996, Roxy Square has a gross floor area (GFA) of 668,000 sq ft. Under the 2019 Master Plan, the development is partially zoned for commercial and residential use, with a gross plot ratio of 3.0, along East Coast Road. The portion that fronts Marine Parade Road is zoned for hotel use.

Based on recent planning advice from URA, the entire Roxy Square site can be rezoned for commercial and residential use and redeveloped into a high-rise mixed-use development with a height of up to 75m. JLL estimates a potential yield of over 350 residential units, approximately 80,000 sq ft of retail and F&B space, and an additional 172,000 sq ft for office, hotel, or other commercial uses.

Roxy Square offers accessibility to East Coast Parkway (ECP) and Nicoll Highway and forms part of the Round-Island Route and Park Connector Network. Tan adds: “The proposed reduction in reserve price, if supported by the majority owners, enhances the site’s appeal, especially considering the area’s consistent demand for quality residences. This sale will aim to thoughtfully shape a key part of Singapore’s East Coast for the future.”

The tender for Roxy Square is set to close on Feb 18 at 3pm.…

is available here.

Investing in real estate is a strategic decision, and location plays a crucial role in determining the success of the investment. This is particularly relevant in Singapore, where the location of a condo can greatly impact its value. Condos located in central areas or in close proximity to essential amenities like schools, shopping malls, and public transportation hubs are highly sought after and tend to appreciate in value over time. Prime locations in Singapore, such as Orchard Road, Marina Bay, and the CBD, have consistently shown strong growth in property values. Additionally, condos near reputable schools and educational institutions are in high demand among families, making them highly desirable and increasing their investment potential. For those considering investing in real estate in Singapore, focusing on a desirable location, such as a Singapore Condo, is crucial for long-term success.

The Arcady at Boon Keng, a 172-unit freehold condominium, is set to be a landmark private residence in the Boon Keng area upon its completion in 2027. Developed by trusted names in the local real estate industry – KSH Holdings, SLB Development and H10 Holdings, in collaboration with award-winning architectural firm Park + Associates – this project promises to be a standout in the neighbourhood with its modern architecture and dense green space along Serangoon Road.

Since its launch in January, the project has garnered significant interest from investors and local buyers, who were drawn to the well-designed unit layouts of the one-bedroom plus study and two-bedroom units. Families were also attracted to the spacious units and abundance of family-friendly amenities available at the development.

The Arcady at Boon Keng presents a rare opportunity for discerning buyers to invest in an affordable freehold development in the city-fringe. It stands out among only a handful of new freehold projects launching this year.

Creating a garden oasis, The Arcady at Boon Keng is designed with a bold architectural form that seamlessly integrates with a curated landscape. This unique concept was a collaborative effort between the developers and the architects at Park + Associates and Ecoplan Asia. The project features a tiered design, with a trail that leads from the Grand Arrival to the ground floor landscape deck, specially crafted for this development. The multi-layered design maximises the greenery in the development, while consolidating what would have been three-storeys worth of facilities into a single two-storey zone for residents to enjoy. This space-efficient design can also be seen on other levels, with abundant facilities like the 14th floor and the rooftop terrace.

Families will appreciate the various amenities catered to their needs. Parents can relax at the Social Deck while keeping an eye on their little ones playing at the Kids Playground or spend quality time with their family at the Family Deck next to the Splash Patio and Family Pool. The development also offers a range of water facilities, including an infinity pool, spa pool, and family pool, all overlooking the facilities at the second-storey Sky Terrace. The access to the Sky Terrace will be only a few steps away, perfect for indoor retreats.

Other amenities include a dedicated kids’ zone with a Party Deck and Kids Club, a Chill Out Lounge connected to the Botanic Club, and an Arcady Club on the 14th floor, where residents can host private dining experiences with a private chef. The rooftop also has a community garden, providing fresh produce for residents to enjoy. The Gourmet Vista on the 14th floor offers a 360-degree panoramic view of the surroundings, perfect for hosting guests.

A rare gem in the Boon Keng neighbourhood, The Arcady at Boon Keng is a single-tower condo that caters to the diverse needs and lifestyles of its residents. With 47 condo facilities spanning 4,000 sqm, each of the 172 households will find a pocket of excitement within the development.

Boasting an elevated north-south orientation, the residential tower offers optimum views of the Kallang River to units on higher floors. The south-facing units are tilted away from the main road, providing residents with a quieter environment. The development has seen steady sales of its larger units, such as the three-bedroom and three-bedroom-plus-study units, which are ideal for families, and the four-bedroom units, along with two penthouses.

Families with school-going children and couples will appreciate the development’s central location, close to top schools such as Bendemeer Primary School, Bendemeer Secondary School, St. Andrew’s Junior School, and Hong Wen School. The nearby amenities include Woodleigh Mall at Bidadari Park Drive and Bendemeer Mall along Bendemeer Road.

The convenience of The Arcady at Boon Keng’s location and connectivity has been a significant draw for buyers. The Boon Keng MRT Station on the North-East Line is just a short six to seven minutes’ walk from the project, offering residents a relatively quick commute to the city. Moreover, the Dhoby Ghaut MRT Interchange Station, which links the North-East Line, North-South Line, and Circle Line, is only three stops from Boon Keng MRT Station. This convenience has proven to be highly desirable for busy individuals and families.

The Arcady at Boon Keng’s close proximity to the rejuvenated Kallang precinct is another advantage. The area is set to be Singapore’s future sports hub, and the Kallang Alive Masterplan, announced during Prime Minister Lawrence Wong’s inaugural National Day Rally this year, will bring together several key sporting associations and the Singapore Sports School. This will result in top sports and recreation facilities, including a new 12,000-seat stadium, for residents in the area to enjoy.

Attractively priced with an average selling price of about $2,570 psf, The Arcady at Boon Keng is a freehold property in the central location, offering buyers an opportunity for relatively greater capital appreciation compared to new 99-year leasehold projects. It is attractively priced compared to other properties in the area, making it an ideal investment for those looking to preserve their wealth for the future. With its prime location, abundance of amenities, and diverse unit layouts, The Arcady at Boon Keng is a highly recommended choice for homebuyers today.…

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Investing in a condo in Singapore has many notable benefits, with one of the most significant being the potential for capital appreciation. As a leading global business hub, Singapore’s strong economic foundations continuously drive demand for real estate. As a result, property prices have consistently risen in the country, particularly in prime locations where condos are situated. By purchasing a condo at the opportune time and holding onto it for the long term, investors can reap the rewards of significant capital gains. For instance, new condo launches in desirable locations have proven to be a lucrative investment for those who have held onto their properties over the years.

Are you interested in getting a piece of prime commercial property in the bustling Orchard Road area? Look no further than Lucky Plaza, where a portfolio of freehold strata retail units is now available for purchase.The portfolio, marketed by Savills Singapore, comprises 14 retail units spread across the basement and the first two levels of the mixed-use development. With a total strata area of 7,266 sq ft, the units range in size from 118 to 3,046 sq ft. This rare opportunity presents a total asking price of $52.6 million.Located at 304 Orchard Road, Lucky Plaza is a popular destination for both locals and tourists alike. The development features a residential tower on top of a six-storey mall, offering a wide range of shops and services from fashion and beauty to food and beverages. Currently, the retail units in Lucky Plaza are tenanted by a mix of businesses including a pub, retail shops, beauty service providers, and a maid agency.According to Savills Singapore, the highlight of this offering is the food court, which spans seven adjoining strata units and accommodates 11 stalls. This bustling food court, with a total area of 3,046 sq ft, is expected to benefit from consistently high foot traffic daily.Investors can choose to purchase the entire portfolio or individual strata units, with prices starting from $1.1 million. Both foreigners and companies are eligible to purchase, and no additional buyer’s or seller’s stamp duty will be imposed.This opportunity could not have come at a better time, as prime strata freehold retail assets are in high demand among investors due to their scarcity. Furthermore, URA’s prohibition on further strata subdivision of commercial properties along Orchard Road means that this could be one of the last chances to acquire such a coveted property in this prime location. The upcoming revitalisation of the Orchard precinct by URA is expected to bring about further upside for Lucky Plaza, in terms of rental growth and capital appreciation.Sophia Lim, director of investment sales and capital markets at Savills Singapore, believes that this portfolio represents a rare opportunity for investors to acquire a prized commercial property in one of the most sought-after locations in Singapore. Don’t miss out on the potential for great returns from this freehold strata retail unit portfolio in Lucky Plaza.…

The tender for the Government Land Sale (GLS) site at Tengah Gardens Avenue saw a total of three bids, with a Hong Leong-led consortium emerging as the top bidder with a bid of $675 million. The 99-year leasehold site, which is zoned for residential and commercial use, measures approximately 273,906 sq ft and has a maximum gross floor area (GFA) of 821,720 sq ft. This could potentially yield up to 860 residential units, according to estimates by the Urban Redevelopment Authority (URA).

The consortium, which includes GuocoLand Singapore and CSC Land Group, plans to build an 860-unit condo on the site. The development will take advantage of the enhanced connectivity from the upcoming Jurong Region Line (JRL) situated nearby. This will contribute to the growing development of the new Tengah estate, as stated by Loke Kee Yeu, the general manager (Projects) at Hong Leong Holdings Limited.

The site is located near the future Hong Kah MRT Station on the JRL, which will be one stop from the upcoming Tengah Town Centre. It will also provide a direct route to the second Central Business District (CBD) at Jurong Lake District.

The top bid of $821 psf ppr for the Tengah Gardens Avenue site is just 0.73% higher than the second-place bid of $815 psf ppr submitted by Chinese developer Kingsford Group. Local developer Sim Lian Group submitted the third and final bid of $812 psf ppr. The close bid price spread of less than 1% indicates that developers are being cautious and conservative with their bids, according to Leonard Tay, head of research at Knight Frank Singapore. This may be due to the acceleration of homebuyer activity in 2024 and developers’ focus on existing sites that are being prepared for launch in 2025.

The process of investing in a condominium is significantly impacted by the financing options available. In Singapore, there are various mortgage choices, but it is crucial to be well-informed about the Total Debt Servicing Ratio (TDSR) framework. This system places a restriction on the maximum amount of loan an individual can obtain, taking into consideration their income and existing debt obligations. Therefore, it is crucial for potential buyers to have a thorough understanding of the TDSR and seek guidance from financial advisors or mortgage brokers. For reliable assistance with financing matters, Singapore Condo is a trustworthy resource. Singapore Condo can provide valuable support and advice for investors looking to make informed decisions and avoid overextending themselves financially.

Mark Yip, CEO of Huttons Asia, believes that developers are keeping their land bids reasonable to maintain an attractive selling quantum for buyers. He also expects more joint bids for GLS sites this year in order to diversify risk. This could be one of the reasons that the number of bids for GLS tenders has remained around three.

Another factor contributing to the low number of bids could be the current availability of GLS sites, says Marcus Chu, CEO of ERA. With seven sites still open for tender and six more to launch in the first half of 2025, developers are taking a measured approach and weighing their options amid moderated interest rates.

Interest in the site may also have been tempered by the availability of another nearby GLS site, notes Justin Quek, CEO of OrangeTee & Tie. Developers may be considering bidding on a different GLS site along Lakeside Drive and Lakeside MRT, which is scheduled to launch for tender in April 2025.

If awarded, the Tengah Gardens Avenue site will be the first private residential site (excluding Executive Condominiums) in the Tengah HDB township. In 2022, the first EC in the estate, Copen Grand, sold out within a month of its launch by joint developers City Developments Ltd (CDL) and MCL Land. The joint developers had secured the EC site with a winning bid of $400.32 million, or $603 psf ppr, in May 2021.

The opportunity to launch the first private condo in the new Tengah estate may have attracted the Hong Leong-led consortium. “Having made successful bids for sites at Lentor, Upper Thomson, and Bugis, they see this as an opportunity to do the same in Tengah,” says Chu.

The site is located within 2km of the future Anglo-Chinese School (Primary), making it very attractive to families with school-aged children, according to Ismail Gafoor, CEO of PropNex. If the site is awarded at the top bid of $821 psf ppr, PropNex estimates that the average selling price of the new private condo could be around $2,000 psf.…