Category: Uncategorized

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 Although it received one bid in a previous auction, it was withdrawn as the bid was under the reserve price.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.…

MCL Land and CSC Land Group have announced the unveiling of Elta, a new residential development in Clementi with 501 units. The property will be available for preview starting from February 7, with public sales launching on February 22.

When deciding whether to invest in a Singapore condo, it is crucial to also evaluate its potential rental yield. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. This yield can vary greatly for condos in Singapore, depending on factors such as location, property condition, and market demand. Condos located in areas with high demand, such as those near business districts or educational institutions, typically offer better rental returns. It is essential to conduct thorough market research and seek advice from real estate agents to gain valuable insights into a specific condo’s rental potential.

Situated on a 99-year leasehold land site covering approximately 144,788 sq ft, Elta is located along Clementi Avenue 1 and comprises two 39-storey residential buildings. The units in the development range from one-bedroom-plus-study units to five-bedroom units, with sizes ranging from 506 sq ft to 1,776 sq ft. The joint developers have confirmed that Elta will be built in accordance with URA’s harmonization guidelines.

Interested buyers can find out more about the available units and prices for Elta from the development’s showflat. The indicative pricing for the units starts at $1.158 million ($2,289 psf) for one-bedroom plus study units, $1.388 million ($2,261 psf) for two-bedroom units, and $2.198 million ($2,374 psf) for three-bedroom units. The indicative pricing for four and five-bedroom units starts from $2.798 million ($2,363 psf) and $3.888 million ($2,189 psf) respectively.

The showflat will showcase three layouts – a two-bedroom plus study unit that can be transformed into a compact three-bedroom, a four-bedroom dual-key unit, and a five-bedroom unit suitable for multi-generational living. Elta is within walking distance to Clementi MRT Station on the East-West Line. It is also conveniently located near dining and shopping options such as The Clementi Mall, 321 Clementi, and Grantral Mall.

Families with school-going children can consider Elta as there are numerous reputable schools in the vicinity, including Clementi Primary School, Pei Tong Primary School, Nan Hua Primary and High School, Anglo-Chinese School (Independent), and NUS High School of Math and Science.

Mr. Lee Tong Voon, CEO of MCL Land, said, “Elta is designed to offer elevated living, with its high-rise towers strategically oriented to provide the best views of the city, Pandan Reservoir, and the sea.” Mr. Qian Liang Zhong, chairman of China Construction (South Pacific) Development Co (CCDC), the parent company of CSC Land Group, adds, “Clementi is a popular, vibrant town that seamlessly blends traditional shops and trendy amenities, making it convenient for the community.”

The new residential development will feature 50 facilities spread across five zones, including a 50-metre lap pool, gymnasium, tennis court, and gardening corner. Elta is expected to receive its temporary occupation permit in 2028. Interested buyers can check out the latest listings for Elta as well as other condominium properties on Ask Buddy. They can also compare trends in prices for Condo new sales, EC new sales, and HDB properties. The platform also provides information on the most expensive Condo projects and transactions with the highest profits in the past year.…

SINGAPORE: An industrial warehouse and factory, situated in Gul Circle, with advanced facilities is available for purchase through an expression of interest. The property, marketed exclusively by Knight Frank Singapore, is being offered with a guide price of $42 million.The property, spanning five storeys, is a single-user space which has been leased from JTC and comes with a mezzanine and four floors. The total gross floor area of the property is 245,955 square feet and the site it sits on is 105,648 square feet. As of February 1, the remaining tenure of the property is 15 years and 11 months. It is listed as a Business 2 site under the URA Master Plan 2019.Knight Frank Singapore has stated that the property was designed to meet modern industrial needs, with amenities such as high ceilings for storage and operations, cold rooms and a strong floor loading capacity suitable for a wide range of industries. Other features include nine 40-footer loading and unloading bays with dock levelers, as well as four cargo and service elevators.The location of the property offers easy access to major expressways such as the Ayer Rajah Expressway (AYE) and Pan-Island Expressway (PIE), as well as the Joo Koon MRT station. This makes it a convenient location for businesses.According to Knight Frank Singapore, the expression of interest exercise for the property will close on March 18 at 3pm.

Investing in real estate in Singapore has become increasingly popular among both local and foreign investors. This is due to the country’s thriving economy, stable political climate, and exceptional standard of living. Among the various real estate options in Singapore, condos have emerged as a top choice for their convenience, amenities, and potential for profitable returns. With the continuous launch of new condos, the market is ripe with opportunities for investors. In this article, we will explore the benefits, considerations, and necessary steps involved in investing in a condo in Singapore, with a focus on new condo launches such as New Condo Launches.

Condos have become a preferred investment option due to their prime locations and convenient facilities. Most condos in Singapore are strategically situated near essential amenities such as shopping centers, schools, and transportation hubs, making them highly desirable for both buyers and renters. Additionally, condos often come equipped with various facilities such as swimming pools, gyms, and security services, providing a luxurious lifestyle for residents.

Moreover, investing in a condo in Singapore presents the potential for lucrative returns. With the country’s robust economy and growing population, the demand for housing is constantly increasing. As a result, condos have a high resale value, ensuring a profitable investment in the long run. Furthermore, condos in Singapore can also generate passive income through rental yields, making them an attractive option for investors.

However, before investing in a condo, there are several factors to consider. Firstly, one must set a budget and determine the financing options available. It is crucial to thoroughly research the various financing options, interest rates, and eligibility requirements to make an informed decision. Additionally, carefully selecting the location of the condo is vital, as it plays a significant role in determining its value and rental potential. One must also consider maintenance fees and any additional costs associated with owning a condo.

To invest in a condo in Singapore, there are a few necessary steps to follow. Firstly, it is crucial to engage a reputable real estate agent who has in-depth knowledge and experience in the market, such as New Condo Launches. The agent can assist in identifying suitable properties and negotiating the best deals. Secondly, it is essential to conduct thorough due diligence and inspect the condo before making a purchase. Finally, it is crucial to engage a lawyer to handle the legal aspects of the transaction and ensure a smooth transfer of ownership.

In conclusion, investing in a condo in Singapore offers numerous advantages, including convenience, potential for profitable returns, and a luxurious lifestyle. With the continuous launch of new condos, the market presents a range of opportunities for investors. However, it is essential to carefully consider various factors and follow the necessary steps to make an informed and successful investment in a condo, such as New Condo Launches.…

Wed, 27 Oct 2021

According to a research report by Colliers in February, the industrial property market in Singapore is expected to slow down this year due to an increase in supply and a decrease in demand. The firm predicts that both rental and price growth will moderate to 0-2% in 2025, compared to the 3.5% growth seen last year.

The report notes that JTC’s data for the fourth quarter of 2024 shows a market that is losing momentum. While the rental index continued to grow for the 17th consecutive quarter, it only increased by 0.5% quarter-on-quarter, a significant decline from the 8.9% growth seen in 2023. The price index also grew by 0.5% in the same quarter, a drop from the 1.2% growth in the previous quarter. This trend indicates a slower growth rate compared to the previous year where property prices rose by 2.1%, less than half of the 5.1% increase in 2022.

Colliers explains that the increase in supply this year, which is more than twice the supply in 2024, is creating an imbalance between supply and demand. This has resulted in slower precommitments and lower occupancy in completed projects. The firm also points out that cautiousness among occupiers due to high interest rates and escalating operating expenses is also contributing to the slowdown in rental growth.

On a global level, the rise in trade protectionism is causing uncertainty in the market, affecting business confidence and investment decisions. However, Colliers expects demand to continue from the semiconductor, logistics, and advanced manufacturing sectors. As for leasing activities, the firm anticipates a gradual ramp-up as policies become clearer and market sentiments improve, driven by the ongoing upturn in the chip cycle.

It is crucial for international investors to have a thorough understanding of the regulations and limitations surrounding property ownership in Singapore. In general, foreigners have more flexibility in purchasing a condo compared to landed properties, which have stricter ownership guidelines. However, foreign buyers must be aware of the Additional Buyer’s Stamp Duty (ABSD), currently set at 20% for their initial property acquisition. Despite this extra expense, the reliable stability and potential for growth in Singapore’s real estate market remain appealing factors for foreign investment. Therefore, it is prudent for foreign investors to consider investing in Singapore’s condo market.

Given the increase in supply and projected moderation in rents, Colliers believes this could be a favorable year for tenants. With newer industrial developments offering more modern specifications, more businesses may consider relocating from older and aging manufacturing spaces. Nicolas Menville, Executive Director and Head of Singapore-based industrial clients for Colliers, commented that this could encourage further relocation to newer projects.

In conclusion, the industrial property market in Singapore is expected to slow down this year due to an increase in supply and a decrease in demand. However, the market is expected to be supported by certain sectors, and there may be more options available for tenants, creating opportunities for businesses to relocate to newer and more modern industrial developments.…

Tan Boon Liat Building, a well-known industrial building located at 315 Outram Road, has been put up for collective sale through a public tender process. The reserve price for this freehold property is set at $1.15 billion. It occupies two separate land plots that have been zoned for “Business 1” use, with a total area of approximately 175,655 sq ft. The building stands at 15 storeys high and is popular for its various furniture and home decor stores.

The property’s advisor and marketing agent, Cushman & Wakefield, reported that the Urban Redevelopment Authority (URA) has issued an Outline Planning Advice on Jan 22, proposing to rezone the site to “Residential with Commercial at 1st storey” and increase the plot ratio from 3.1 to 4.9. This would result in a 50% increase in the total allowed gross floor area (GFA).

As a result of the proposed rezoning, URA has also recommended incorporating a few remnant state land plots into the main plot. These plots span approximately 20,451 sq ft, subject to final survey and approval from the relevant authorities.

Cushman & Wakefield estimates that the potential GFA of the site, including the state land plots and any bonus GFA entitlement, is over 1.06 million sq ft. The first storey can accommodate a commercial GFA of up to 16,146 sq ft.

In addition to the residential component, a minimum GFA of 161,459 sq ft should be reserved for Serviced Apartments II (SA2), where a minimum three-month stay is required. The allowed heights for the new development range from 130m to 180m.

Based on the reserve price, which includes land betterment charges on rezoning, the estimated premium for the remnant state land and the 10% bonus GFA for the residential portion, the estimated land rate is approximately $1,888 psf per plot ratio.

Singapore’s thriving economy, stable political climate, and luxurious lifestyle have made it a top destination for real estate investment, particularly in the form of condos. This is evident in the growing interest from both local and foreign investors. The city-state’s real estate market is brimming with prospects, with condos being a popular choice due to their advantageous location, modern facilities, and potential for excellent returns. In this article, we will delve into the advantages, considerations, and necessary steps to take when investing in a Singapore Condo.

Recent industrial sales transactions at Tan Boon Liat Building have ranged between $850 psf to $1,100 psf. Christina Sim, senior director of capital markets at Cushman & Wakefield, believes that the site will be attractive to developers due to its freehold tenure and prime location. The building’s proximity to the upcoming Havelock MRT station on the Thomson-East Coast Line (TEL) is also a significant advantage for potential homebuyers.

Sim adds that one of the most significant draws for developers is that no Additional Buyer’s Stamp Duty (ABSD) will be imposed on this site as it currently has a “Business 1” zoning.

The tender for the site will close on March 18 at 3pm.…

.

Investing in a condo involves a crucial component – financing. In Singapore, there are various mortgage choices available, but it is crucial to have a thorough understanding of the Total Debt Servicing Ratio (TDSR) framework. This framework puts a cap on the loan amount a borrower can take, taking into consideration their income and current debt responsibilities. It is highly recommended for investors to consult financial advisors or mortgage brokers to gain a better understanding of the TDSR and make well-informed decisions about their financing options. This is important to avoid over-leveraging. Additionally, staying updated on New Condo Launches can also provide valuable insights when considering financing for a condo investment.

Park Nova’s largest penthouse has been sold for a record-breaking price, setting a new high for the development. The five-bedroom unit, located on the 20th floor and measuring 5,899 sq ft, was sold by the developer for $38.888 million on Jan 21, according to a URA Realis database caveat.

This transaction marks the highest price ever recorded for a unit at Park Nova, both in absolute price and psf. The previous records were held by a 4,499 sq ft penthouse that sold for $26.026 million in May 2021 ($5,784 psf).

This sale also represents the second-highest psf-price ever registered for a condo unit in Singapore, second only to a unit at The Marq on Paterson Hill. In 2011, a four-bedroom unit on the 20th floor of the development was sold for $20.54 million ($6,650 psf).

The recently sold penthouse at Park Nova is rumored to be part of a collection of properties linked to a $3 billion money laundering case. The unit was previously reported to have sold in 2021 for $34.438 million ($5,838 psf).

In recent weeks, the developer has sold three other units at Park Nova. On Jan 17, a four-bedroom apartment spanning 2,906 sq ft on the 19th floor sold for $16.59 million ($5,708 psf). On Dec 27, a four-bedroom unit measuring 2,896 sq ft on the 18th floor sold for $15.99 million ($5,522 psf).

Park Nova is a freehold luxury condo with 54 units located at the junction of Orchard Boulevard and Tomlinson Road in prime District 10. Developed by Hong Kong’s Shun Tak Holdings, the development received its temporary occupation permit in November last year.

With its prime location and luxury offerings, Park Nova continues to attract high-end buyers. To find out more about the transaction prices and available units, search for the latest New Launches. You can also check out the latest listings for Park Nova properties and generate price trend graphs for new launch condos in District 10.…

CapitaLand Investment (CLI) has recently made a major acquisition in Osaka, Japan, purchasing a freehold land parcel for the development of its first data centre in the country. The project, which will require an investment of over US$700 million or $944.3 million, will secure a power capacity of 50 megawatts (MW).

CLI has stated that the data centre will be equipped to support artificial intelligence (AI) capabilities. In order to enhance energy efficiency, the data centre will utilize advanced cooling technologies and adhere to industry best practices for temperature management. Additionally, the centre will utilize environmentally-friendly products with zero ozone depletion potential or a global warming potential (GWP) of less than 100.

Securing the necessary financing is a crucial step in the process of investing in a condominium. In Singapore, there are various mortgage choices available for potential investors to explore. However, it is of utmost importance to be familiar with the Total Debt Servicing Ratio (TDSR) framework, which puts a cap on the amount of loan that can be acquired based on one’s income and current debt obligations. It is advisable to have a good grasp of the TDSR and to seek guidance from financial experts or mortgage brokers while considering options. Doing so can assist investors in making well-informed decisions regarding their financing and preventing over-leveraging. Additionally, for those interested in Singapore projects, Singapore Projects provides useful resources and updates.

Senior Executive Director of CLI, Manohar Khiatani, who is responsible for overseeing the group’s data centre business, views this acquisition as a strategic move in line with the group’s digitalization investment theme. The purchase also serves to expand CLI’s geographical reach and strengthen its presence in Japan, one of the group’s key focus markets.

Khiatani notes that Japan is considered a Tier 1 data centre market with significant potential for growth. The country is projected to see a compound annual growth rate of 10%, growing from US$23.8 billion in 2023 to US$38.7 billion in 2038. Japan is also the largest data centre market in Asia Pacific, second only to China, with a capacity of 1.4 gigawatts.

CLI’s acquisition is well-positioned to tap into the demand within Osaka’s established data centre cluster, as major cloud service providers like Amazon Web Services, Google Cloud, Microsoft Azure, and Oracle are already present in the region. Managing Director of Private Funds (Data Centre) at CLI, Michelle Lee, highlights the strong institutional interest in data centre investments, with 97% of investors planning to increase their overall investment in the sector.

Given the rising demand for data centres, Lee anticipates double-digit growth and a potential shortage of new supply. She also reveals that CLI has raised US$600 million for its data centre development funds in Asia since October 2020, and will continue to actively seek out investment opportunities for its private fund investors.

With this recent acquisition, CLI now has a total of 23 data centres in its global portfolio. The CapitaLand Group, under which CLI falls, currently has 27 data centres across Asia and Europe with a total power capacity of 800 MW and assets under management of $6 billion.

On Feb 3, shares in CLI closed at $2.42, a decrease of 1.63%.…