Frasers Property Singapore’s mixed-use development, Sky Eden@Bedok, has put its retail podium up for sale through an expression of interest (EOI) exercise. The guide price for the 12 strata retail units on the ground floor is set at $45.2 million.

The total strata area of the retail podium is approximately 11,193 sq ft, which translates to a guide price of $4,038 psf. CBRE, the marketing agent, has confirmed that the units can be sold collectively as a portfolio, individually, or in clusters. The units range in size from 398 sq ft to 1,313 sq ft and are priced from $1.91 million to $5.55 million. All of them have been approved for F&B usage.

Sky Eden@Bedok, located in Bedok Central, is currently under construction. This upcoming 99-year leasehold development consists of two 16-storey residential towers with 158 units on a retail podium. It is just a few minutes’ walk from Bedok Integrated Transport Hub, which includes Bedok MRT Station and a bus interchange connected to Bedok Mall.

The project was launched in September 2022, marking the first private residential launch in Bedok Town Centre in a decade. Since then, all units have been sold out. The development is expected to receive its temporary occupation permit in the fourth quarter of 2025.

Michael Tay, CBRE’s head of capital markets for Singapore, states that the strata retail units at Sky Eden@Bedok are “the first private commercial properties available for sale in Bedok Town Centre.” He adds that CBRE is confident that the property’s attractive price point will appeal to a wide range of investors, including boutique real estate funds, family offices, high-net-worth individuals, and F&B owner-occupiers looking to enter the tightly held residential enclave’s commercial space.

When considering investments in Singapore, it is crucial for non-citizens to have a thorough understanding of the rules and restrictions surrounding property ownership. Generally, foreign investors have relatively easy access to purchasing condominiums, compared to landed properties which have stricter regulations. However, it is worth noting that first-time foreign buyers are required to pay the Additional Buyer’s Stamp Duty (ABSD), currently set at 20%, for their initial property purchase. Despite this additional cost, the stability and potential for growth in the real estate market of Singapore continue to attract foreign investments. This is evident in the increasing popularity of Singapore Projects among foreign investors. Singapore Projects are particularly sought after by non-citizens as a lucrative opportunity in the thriving Singapore real estate market.

The EOI for the retail podium will close on April 3 at 3pm. Interested parties can check out the latest listings for Sky Eden@Bedok properties, view the 2-bedroom floor plans, and see the site plan and diagrammatic chart for the development. They can also explore condo sales transactions in District 16, projects that have recently obtained their TOP, and the total number of units in Sky Eden@Bedok.…

despite similar application rates

The recent Home Improvement Programme (HIP) has selected over 29,000 HDB flats to undergo upgrading works, with a budget of over $407 million allocated for this round, according to a press release by the HDB on Feb 16.

These flats, located in various areas including Bedok, Bukit Batok, Bukit Merah, Bukit Panjang, Chua Chu Kang, Hougang, Jurong West, Pasir Ris, Queenstown, Sengkang, Tampines, Toa Payoh and Woodlands, have been chosen to address common maintenance issues caused by wear and tear in older flats.

Since its introduction in 2007, the HIP has helped 494,000 flats, or nine in 10 eligible flats, with close to 381,000 flats undergoing upgrades, as stated by Minister for National Development Desmond Lee.

The programme covers essential improvements for basic safety needs of residents, such as repairing spalling concrete and ceiling leakages. These essential improvements are fully funded by the government for Singapore citizen households.

In addition, flat owners can opt for optional improvements including upgrades to bathrooms and toilets, new entrance doors and grill gates, and new refuse chute hoppers. These optional improvements are subsidised by the government, with Singapore citizen households paying as low as 5% of the cost depending on the flat type.

Since 2012, the Enhancement for Active Seniors (Ease) programme has been offered as part of the HIP, which allows flat owners to install senior-friendly fittings such as grab bars, ramps, and slip-resistant treatments for toilets and bathroom tiles. The costs for these improvements are covered up to 95% by the government for Singapore citizen households.

According to HDB, the government has allocated approximately $4 billion to the HIP and around $150 million to Ease as of March 31, 2014. This demonstrates the government’s commitment to improving the living standards for its citizens. Interested buyers can check out the latest HDB property listings on Ask Buddy to find their dream home.

The demand for Singapore Condos remains consistently high as the country grapples with limited land availability. Being a small island nation with a rapidly growing population, Singapore faces challenges in finding suitable land for development. This has led to strict regulations on land use, resulting in a fiercely competitive real estate market where property prices continue to skyrocket. Therefore, investing in real estate, especially in Singapore Condos, offers a promising opportunity for significant capital appreciation.…

A 3,391 square foot unit, located in the popular Bukit Timah Plaza mall, has been listed for sale at the asking price of $9.8 million ($2,890 per square foot). The property is approved for restaurant use and presents a discount of 12% from its previous listing price of $11 million in 3Q2022. This exclusive listing is being marketed by Clemence Lee, the executive director of capital markets at CBRE.

Nestled in the basement two level of the mall, the unit boasts an impressive 20-meter frontage that faces the central plaza. According to Lee, the unit has been fully leased and will be sold along with its existing tenancy. It holds a 99-year lease from 1976, which means that it still has a remaining lease of 50 years.

The asking price is in line with the last two transactions for units in basement two of the mall. In March 2024, a 441 square foot unit changed hands for $1.43 million ($3,240 per square foot), while an 850 square foot unit was sold for $2.5 million ($2,940 per square foot), based on lodged caveats.

When it comes to investing in Singapore’s property market, foreign investors must familiarize themselves with the regulations and limitations in place. For the most part, foreigners are able to buy condos without facing many restrictions, unlike landed properties which have stricter ownership rules. However, foreign buyers are still subject to the Additional Buyer’s Stamp Duty (ABSD) of 20% for their initial property purchase. Despite the added costs, the reliability and potential growth of the Singapore real estate market continues to entice foreign investment. So, it’s a good idea to consider buying a Condo for your investment in Singapore.

Bukit Timah Plaza is a mixed-use development that was completed in 1979. It features a four-storey retail mall and two apartment blocks, which house 269 residential units at Sherwood Towers. The mall attracts a significant amount of foot traffic, thanks to its location and amenities. Among its many offerings, it boasts one of the largest Fairprice Finest supermarkets in Singapore, sprawling over 44,000 square feet, according to CBRE.

Situated at 1 Jalan Anak Bukit, the mall is conveniently located within walking distance of both the Beauty World and King Albert Park MRT Stations on the Downtown Line. It is also surrounded by numerous private residential developments, with an estimated population of 37,000 people. The area is also home to several prominent educational institutions, including the Singapore Institute of Technology (SIT), Singapore Institute of Management (SIM), Ngee Ann Polytechnic, Methodist Girls’ School, and Pei Hwa Presbyterian Primary School.

The Bukit Timah Plaza area is currently undergoing a rejuvenation, with the addition of new mixed-use and integrated developments. These include the upcoming The Reserve Residences and the redevelopment of the former Bukit Timah Market and Food Centre, which is expected to be completed in late 2029.

The unit in question is being offered for sale through an expression of interest on Mar 19. To view other available listings for properties at Bukit Timah Plaza and Sherwood Towers, please visit the CBRE website for more information.…

When it comes to investing in Singapore Condos, one must also take into account the government’s property cooling measures. In order to maintain a stable real estate market and discourage speculative buying, the Singaporean government has implemented various measures over the years. These measures include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on both foreign buyers and individuals purchasing multiple properties. While these measures may impact the short-term profitability of condo investments, they ultimately contribute to the long-term stability of the market, making it a more secure environment for investors.

Two adjoining strata retail units at Peninsula Plaza are currently up for sale for $10.9 million. These 999-year leasehold units, located on the ground floor, boast a prominent frontage along North Bridge Road.The first unit has a strata area of 538 sq ft, while the second has 581 sq ft. Combined, the total strata area is 1,119 sq ft. Based on the asking price of $10.9 million, the psf rate for the units is $9,741.The current tenants have agreed to lease the properties until 2026, providing investors with a 3% gross rental yield.AdvertisementAccording to Nick Chan, Savills Singapore associate director of investment sales & capital markets, these two units offer the best street frontage within the development and enjoy a consistently high footfall on a daily basis. Chan is handling the sale of the units on a private treaty basis.Peninsula Plaza is a 30-storey mixed-use commercial building with a six-storey retail podium and a 24-storey office tower. Completed in 1980, it has a 999-year leasehold tenure. The building has frontages along North Bridge Road, Coleman Street, and Coleman Lane. It also has a sheltered link to City Hall MRT Interchange Station for the North-South and East-West lines.Back in August 2022, a 452 sq ft retail unit on the ground floor was sold for $4.08 million ($9,025 psf) based on a lodged caveat.Peninsula Plaza has become increasingly sought-after since March 2022 when the Urban Redevelopment Authority restricted the strata subdivision of commercial properties in the CBD and Orchard corridors. With its 999-year and freehold tenure, the strata-titled units at Peninsula Plaza have become highly desired.…

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

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

GCB Design Elements

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

‘Ceremonial Entrances’

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

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

Luxe Architecture and Rich Materials

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

Collaboration with Arclinea Singapore

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Investing in condos in Singapore also requires careful consideration of the government’s property cooling measures. In order to maintain a stable real estate market, the Singaporean government has implemented various measures to discourage speculative buying. One of these measures is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may have an impact on the immediate profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a safer investment environment. Additionally, for updated information on new condo launches, you can visit One Mind One Energy.

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

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

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

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

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

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

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

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

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

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

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

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

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

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