Month: November 2024

The new 99-year leasehold private condominium, Emerald of Katong, developed by Sim Lian Group, has seen brisk sales since its launch. As of November 30, caveats lodged show that 825 units (97.5%) have been sold, achieving an average price of $2,617 psf. The developer held a balloting session for the 13 units that were not taken up during the launch, and all have been sold.Since the launch of Emerald of Katong, neighbouring projects in the East Coast area of District 15 have also seen an increase in sales. Tembusu Grand, a 99-year leasehold development by City Developments Ltd (CDL) and MCL Land, recorded 52 units sold in November, bringing cumulative sales to 581 units or 91% to date.At the 1,008-unit Grand Dunman, also a 99-year leasehold project, 18 units were sold since Nov 11, bringing cumulative sales to 731 units or 72.5% to date. Another project to benefit from the launch of Emerald of Katong is The Continuum, an 816-unit freehold development by joint venture partners Hoi Hup Realty and Sunway Developments. A total of 126 units have been sold since Nov 9, bringing overall sales to 528 units or 64.7% to date, at an average price of $2,788 psf.The new home sales in November have already surpassed the previous peak set in March 2013, according to Hutton Data Analytics. The strong take-up in November is expected to boost new home sales in 2025 as well. The Emerald of Katong launch also saw the highest psf prices achieved for one-bedroom and two-bedroom units on high floors. The units fetched prices from $2,901 psf to $2,958 psf, based on caveats lodged. At The Continuum, 13 caveats have been lodged, with prices exceeding $3,000 psf.

Due to the limited land availability in Singapore, condos have become highly sought after. As a small island country with a fast-growing population, Singapore struggles to find enough land for development. As a result, strict land use policies have been implemented and the real estate market has become fiercely competitive, causing property prices to continuously rise. This has made investing in real estate, specifically condos, a profitable venture with the potential for capital appreciation. This demand has only been amplified with the addition of Singapore Projects, making the market even more attractive for investors.…

According to Savills Research, the real estate market in Asia Pacific (Apac) continues to outperform its global counterparts, with real GDP growth surpassing that of the US and Europe. This was revealed in their global outlook report for 2025, which was released on November 28.

Paul Tostevin, head of world research at Savills, notes that for the first time in five years, there is more stability and confidence in the economic outlook. This is expected to boost investment and activity in the market.

In the first three quarters of 2024, Apac saw a 4% year-on-year increase in investment volumes, reaching US$108.7 billion. The top three markets that experienced the highest growth in investment volumes during this period were Singapore (74% growth), South Korea (71%), and Australia (63%).

Savills Research predicts that global real estate investment turnover will rise by 27% and reach US$952 billion in 2025. By 2026, it is expected to exceed the US$1 trillion mark for the first time since 2022.

Alan Cheong, executive director of research and consultancy at Savills Singapore, states that Singapore’s real estate market is expected to follow the global trend. Meanwhile, Savills predicts a full recovery in investment activity in Apac next year, driven by sectors such as tourism, residential, and industrial, particularly in logistics and data centres.

Simon Smith, regional head of research and consultancy for Apac at Savills, states that the conditions for a recovery in real estate investment interest in the region are in place. He also notes that long-term trends, such as growth in markets like India and Southeast Asia, will support values. However, the outcome will depend on how global themes play out and which players are best positioned to take advantage of them.

Savills adds that Apac’s office sector remains attractive, accounting for 37% of the region’s total real estate investment in the first three quarters of 2024 – significantly higher than the global average of 23%. Singapore, China, South Korea, and Japan are the top cities for office utilization, with occupancy rates exceeding 90%. The region also continues to be a leader in green-certified office spaces, as office tenants place a stronger emphasis on environmental, social, and governance (ESG) matters.

In Singapore, office tenants are increasingly prioritizing the green agenda. There has also been a slight recovery in activity, with more leases being concluded. Rental rates for Grade-A office spaces in the Central Business District are expected to remain stable from 2025 to 2026.

With its status as a hub and gateway to the region, Singapore is a preferred destination for new overseas brands. Prime retail developments are also experiencing healthy demand, keeping rental levels firm.

Despite cost pressures, there is still strong demand in key sectors like logistics, advanced manufacturing, healthcare, and data centres, which should help stabilize rental rates and capital values in the long term. Cheong adds that the adoption of artificial intelligence is leading to the construction of more data centres in Singapore, with data centre service providers using it as a base to scout for suitable locations to build their infrastructure.

Investing in a condominium in Singapore offers numerous benefits, one of which is the potential for capital appreciation. The country’s advantageous position as a major global business hub, combined with its robust economic foundations, results in a consistent demand for real estate. This has led to a steady increase in property prices over the years, with prime location condominiums experiencing substantial appreciation. By timing their investments strategically and holding onto their properties for a prolonged period, investors can reap significant capital gains. Keeping an eye on new condo launches can also provide opportunities for potential growth in the market.

Tostevin concludes that as global investment and activity return to sustained growth, the real estate industry must adapt to changing legislative and geopolitical dynamics while ensuring sustainable and socially responsible development to meet the needs of a changing world. Savills’ report also highlights Apac as the top investment destination for family offices globally, according to a UBS report.…

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Hill House by Macly Group has emerged as the top-performing boutique development in Singapore, with a new record of $3,267 per square foot (psf) achieved for a compact two-bedroom unit. This was based on a sale of a 452 sq ft, two-bedroom on the fifth floor, which the developer sold for $1.48 million on Nov 11. The new record is a marginal increase of 0.1% from the previous record of $3,263 psf in November 2023. This was attained from the sale of a 624 sq ft two-bedroom unit on the ninth floor, which was sold for $2.04 million. In total, there have been 11 transactions at Hill House this year with an average price of $3,098 psf, which is 0.9% lower than the average price of $3,127 psf from the five transactions recorded last year.

Hill House, a 999-year leasehold condo located at the top of Institution Hill, off River Valley Road, in prime District 9, consists of 72 units. Of these, 40 are one-bedroom and one-bedroom plus study units ranging from 431 sq ft to 452 sq ft; 24 are two-bedroom units of 624 sq ft; and the remaining eight are three-bedroom apartments of 753 sq ft. As of now, 29 units (equivalent to 40%) have been sold at an average price of $3,060 psf since its launch in November 2022. Hill House is slated for completion in the third quarter of 2026.

The Continuum, another freehold condo by the developer, came in second on the list of condos that saw new psf-price highs during the period. The latest record of $3,084 psf was achieved from the sale of a 721 sq ft, two-bedroom unit on the 17th floor for $2.22 million on Nov 16. The new record is only 0.4% higher than the previous high of $3,071 psf, which was set on Nov 15 from the sale of a similar unit on the 16th floor.

The Continuum is a freehold condo comprising 816 units situated on Thiam Siew Avenue, off Haig Road and Tanjong Katong Road in District 15. It was launched in May last year and is expected to be completed by 2026. The units are a mix of one- to five-bedroom apartments spanning from 560 sq ft to 2,260 sq ft. So far, 489 units (equivalent to 59.8%) have been sold at an average price of $2,779 psf.

When it comes to real estate investments, location is a critical factor and this holds particularly true in Singapore. Investing in condos located in central areas or close to essential amenities such as schools, shopping malls, and transportation hubs can lead to higher appreciation in value. Prime locations in Singapore, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown impressive growth in property values. The added bonus of being near reputable schools and educational institutions makes condos in these areas even more sought-after by families, further increasing their potential as investments. Additionally, keeping an eye out for new condo launches can provide even more opportunities for investing in prime locations in Singapore.

In comparison, Lavender Residence, a freehold boutique development by FLJ Property, has seen a new psf-price low from the sale of a 990 sq ft, one-bedroom plus studio unit on the second floor at $1.61 million, or $1,626 psf, on Nov 17. This is lower than its previous PSF record of $1,710 psf set in June 2023 from the sale of a 1,335 sq ft, four-bedroom unit on the sixth floor for $2.28 million. Lavender Residence is a 17-unit development located at the junction of Lavender Street and Kempas Road in Boon Keng, District 12. The development consists of studios, three-bedroom units, and dual-key variants, ranging from 463 sq ft to 1,550 sq ft. It is expected to be completed soon and is within walking distance of Bendemeer MRT Station on the Downtown Line.…

The government has recently announced a new measure to provide relief for homeowners in Singapore. In 2025, a one-off property tax rebate of 20% will be given to owner-occupied HDB flats, while a 15% rebate will be given to owner-occupied private residential properties. However, the rebate for private residential properties will be capped at $1,000.

Investing in a Singapore Condo offers numerous benefits, one of which is the potential for significant capital appreciation. Known as a leading global business hub, Singapore’s strong economic foundations have resulted in a sustained demand for real estate. This has led to a consistent uptrend in the country’s real estate market, with prime condo locations experiencing significant growth in value over the years. For investors who enter the market at the right time and hold onto their properties for the long term, substantial capital gains can be expected. Including a Singapore Condo in one’s investment portfolio can prove to be a wise and profitable decision. Consider exploring options for Singapore Condo to diversify and potentially increase your investment returns.

Property tax is calculated based on a property’s annual value, which is the estimated rent the property can generate in a year if it were to be rented out. This measure was introduced by the government on November 29, in preparation for the upcoming increase in annual value bands for owner-occupier residential property tax rates on January 1 under Budget 2024.

The government estimates that this measure will result in lower property taxes for more than 90% of owner-occupied HDB flats and private residential properties. This aims to alleviate concerns about the cost of living among Singaporeans.

According to Lee Sze Teck, senior director of data analytics at Huttons Asia, the annual value of private properties is expected to remain flat this year due to low or marginal growth in private residential rents. On the other hand, he predicts a 4% increase in HDB rents, which will lead to a rise in the annual value of HDB flats.

The one-off property tax rebate may help cushion the impact of any increase in annual value for HDB owners. For instance, if a HDB flat has an annual value of $30,000, the property tax payable in 2025 would be $720. With the rebate, the owner will only need to pay $576, saving $144.

Similarly, some owner-occupiers of private residential properties may also benefit from the 15% property tax rebate, with a cap of $1,000. For example, if the annual value of a property is $85,000, the property tax payable would be $5,760. With the rebate, the owner would only need to pay $4,896, saving $864.

However, Lee notes that property tax rebates have been offered before and do not affect the attractiveness of investing in residential properties in Singapore. The appeal of investing in residential properties lies in the potential for capital appreciation, which outweighs the increase in property tax.

In conclusion, the revised property tax rates introduced in Budget 2024 will mainly benefit owner-occupied properties with lower annual values. This measure provides some relief to homeowners in Singapore, but it does not reduce the appeal of investing in residential properties for potential long-term gains.…

In just two years, Jason Ng, CEO and executive chairman of Aurico Global, has successfully built a property investment and training firm that now holds $52 million in assets under management. Ng’s journey in real estate started back in 1993, driven by his desire to provide for his family. Growing up, Ng lived in a rental flat in Dakota Crescent with six other family members. This motivated him to work hard and secure a well-paying job, so he could invest in his first property – a 1,400 square foot three-bedroom apartment worth $435,000. However, Ng’s real estate journey did not stop there. He expanded his investment portfolio and even ventured into student enrichment and parenting training, becoming an accredited family life educator. In 2021, Ng co-founded Aurico with his wife, Emelyn Ho, to consolidate his various businesses, including co-living, property and investment training, and preschool enrichment resources and programmes. Aurico’s property portfolio includes residential, commercial, and industrial assets, with a focus on strategic and quality properties. The company manages 380 co-living units under the brand Communa and has plans to double this number to 600 units by the end of the year. Aurico also has a presence in the commercial sector, with the acquisition of a commercial strata office unit at Woodlands Square, and food factories to tap into Singapore’s goal to produce 30% of its nutritional needs by 2030. In May, Aurico acquired a controlling stake in Autagco Ltd, a company listed on the Singapore Exchange, and plans to expand its core business to include residential assisted living. This sector is expected to be profitable with Singapore’s aging population. Besides property investment, Aurico is also dedicated to educating aspiring investors on how to make informed decisions through its comprehensive training courses. Ng’s goal is to make property investment accessible to everyone, including millennials and Gen Z who may believe that property investment is only for the affluent. With its hands-on support and network, Aurico is set to empower individuals to achieve their financial goals through real estate.

The investment potential of Singapore Condos is undeniable, making it a highly desirable choice for both local and international investors. The bustling city-state boasts a strong economy, a stable political climate, and an exceptional quality of life, making it an ideal location to invest in real estate. Among the various opportunities in Singapore’s real estate market, condominiums have emerged as a top choice due to their convenience, amenities, and potential for profitable returns. In this article, we will explore the advantages of investing in a Singapore Condo and discuss important considerations and steps to take when making such a investment.…

The demand for condos in Singapore remains consistently high due to the limited availability of land. As a small island country with a rapidly increasing population, Singapore has been facing challenges in finding suitable land for development. This has resulted in stringent land use regulations and a highly competitive real estate market, causing property prices to continuously surge. As a result, investing in real estate, specifically in condos, has become a highly profitable option with the potential for significant capital appreciation. To explore the latest Singapore Condo options, visit https://www.ananar.com/.

Maple Woods condominium has made headlines as the most profitable resale transaction during the week of Nov 12 to 19, with the sale of a three-bedroom unit on the first floor for a whopping $3.3 million. The 1,539 sq ft unit was sold at a rate of $2,144 per square foot on Nov 15, reflecting a significant increase from its initial purchase price of $1.28 million ($830 per square foot) in April 2009. This resulted in a profit of $2.02 million for the seller, representing a capital gain of 158% or an annualised profit of 10.6% over a holding period of about 15½ years.

Situated in prime District 10 along Bukit Timah Road, Maple Woods is a freehold condominium that was built in 1997. It comprises 697 units ranging from two to four-bedroom apartments, with sizes ranging from 850 sq ft to 3,003 sq ft. The development boasts a strategic location, being just a five-minute walk from King Albert Park MRT Station on the Downtown Line. Additionally, it is within close proximity to reputable schools such as Methodist Girls’ School and the Rail Corridor.

This year, 10 other resale transactions have taken place at Maple Woods, all of which have been profitable deals. Sellers have made gains of at least $425,000, with three units selling for over $2 million. The first was a 1,787 sq ft, three-bedroom unit on the eighth floor that sold for $3.75 million ($2,099 psf) on July 1997, making a profit of $2.15 million. The second unit was a 1,787 sq ft, three-bedroom unit that sold for $3.82 million ($2,138 psf) on Sept 10. And finally, the third unit was a 3,003 sq ft, four-bedroom unit that was sold on Sept 10 for $5 million ($1,665 psf). These transactions resulted in profits of $2.47 million and $2.6 million respectively.

The second most profitable condo resale deal during the week took place at UE Square, with a three-bedroom unit measuring 1,528 sq ft on the seventh floor fetching $2.95 million ($1,930 psf) on Nov 14. The seller had acquired the unit through a sub-sale in December 1997 for $1.3 million ($850 psf), resulting in a gain of $1.65 million (127%) after owning the unit for nearly 27 years.

This marked the fourth most profitable resale transaction recorded at UE Square, with the record still belonging to a four-bedroom penthouse spanning 3,089 sq ft that changed hands for $6.27 million ($2,031 psf) on Oct 6, 2023. The seller, who bought the unit for $4.1 million ($1,327 psf) in December 2009, made a gain of $2.17 million.

The most unprofitable condo resale transaction during the week was the sale of a 2,745 sq ft unit at Tomlinson Heights for $8.25 million ($3,006 psf) on Nov 19, resulting in a loss of approximately $601,000 (6.8%). The seller had purchased the unit from the developer in February 2011 for $8.85 million ($3,225 psf).

Tomlinson Heights is a luxury 70-unit condominium located off Orchard Boulevard in District 9. Comprising a 36-storey tower with a mix of three- and five-bedroom units ranging from 2,551 sq ft to 6,738 sq ft, this freehold development was completed in 2014 and is situated within walking distance of malls along the Orchard Road shopping belt.…

Hong Lai Huat, a company listed on the mainboard, has recently signed a strategic term sheet with The Assembly Place, a co-living operator. The term sheet outlines plans for The Assembly Place to manage Hong Lai Huat’s real estate and property development projects in Cambodia. This partnership represents the introduction of the co-living concept to the country for the first time.

In a joint release on November 28, both companies shared that they aim to finalize key objectives within the next 60 days before officially entering into a binding agreement. Some of these objectives include conducting feasibility studies for the fitting out of available units in Hong Lai Huat’s Royal Group Platinum development in Cambodia.

The partnership also includes plans to promote and market Hong Lai Huat’s available commercial shop-house units at the Royal Group Platinum development. In addition, the partnership seeks to utilize The Assembly Place’s extensive network to create new sales channels in Singapore, Hong Kong, and Greater China’s first-tier markets for Hong Lai Huat’s completed and upcoming projects. This will also result in job creation within local communities, as well as ongoing after-sales asset management services.

According to Hong Lai Huat’s website, the development in Cambodia is a mixed residential and commercial project consisting of 851 residential units and 50 shophouse units. It is situated just 20 minutes from Phnom Penh International Airport and is surrounded by 16 international schools and six sports facilities. The development is also a mere 10 minutes away from Aeon Mall 2, currently the largest shopping mall in Phnom Penh.

Investing in a condo is a key element of financing in Singapore. With a variety of mortgage options available, it is crucial to have a thorough understanding of the Total Debt Servicing Ratio (TDSR) framework. This framework limits the amount of loan a borrower can take, taking into consideration their income and current financial obligations. Consequently, being familiar with the TDSR and seeking the guidance of financial advisors or mortgage brokers can assist investors in making well-informed decisions about their financing options and avoiding overextending themselves financially. It is also advisable to consult with experts from a reputable source such as Singapore Condo at https://www.ananar.com/ for further guidance on financing for condo investments.

Ong Jia Jing, Executive Director of Hong Lai Huat, expressed excitement about the partnership, stating that it will enable the company to offer top-tier asset management services to its investors and buyers in Cambodia. This, in turn, will instill confidence in purchasing units in their developments.

Eugene Lim Ying Jie, CEO of The Assembly Place, believes that the partnership aligns with their strategy of expanding the co-living concept both locally and internationally. He adds that with Hong Lai Huat’s high-quality and thoughtfully designed developments, combined with The Assembly Place’s extensive experience in the co-living sector, they are confident in delivering exceptional value to purchasers.

The signing ceremony took place at CAMPUS by The Assembly Place on November 28.…

CBRE, a global real estate services firm, has announced the appointment of Michael Tay as deputy managing director of Singapore Advisory, effective Jan 1, 2025. Tay, who is currently Singapore’s head of capital markets, will continue to report to Moray Armstrong, CBRE’s managing director of Singapore Advisory.

In this new role, Tay will provide long-term leadership and planning for the Singapore advisory business. He will work closely with Armstrong to develop and direct strategy, evaluate and execute investments, including M&A opportunities, and drive business growth.

Armstrong described Tay as one of the most experienced real estate professionals and thought leaders in the Singapore market, with over 30 years of experience in commercial real estate. He joined CBRE in 2000 and has since held various leadership roles, including office services and capital markets.

Tay’s experience and expertise in the industry have contributed to the success of many significant investment deals in Singapore. This includes the sale of One George Street, 16 Collyer Quay, and VisionCrest Commercial, among others.

The purchase of a condominium not only offers a place to call home, but it also provides the opportunity to leverage its value for future investments. A significant advantage of condo investment is the ability to use the property as collateral to secure additional financing for other investment ventures. This allows investors to grow their real estate portfolio, especially with the inclusion of premier Singapore Projects. However, this strategy should be approached cautiously, with a strong financial plan in place, as it also carries potential risks. It is essential to carefully consider the potential impact of market fluctuations before making any decisions.

Expressing his gratitude for the trust placed in him, Tay said, “It has been an amazing journey of 25 years and counting with CBRE. I am grateful for the career growth opportunities that the company has offered me, and the privilege of working and learning from some of the leading real estate professionals in Singapore.”…

When it comes to investing in condominiums in Singapore, one cannot overlook the government’s property cooling measures. Over the years, the Singaporean government has implemented several initiatives to prevent speculative buying and maintain a steady real estate market. These measures include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and individuals purchasing multiple properties. Although these measures may affect the immediate profitability of condo investments, they ultimately contribute to the long-term stability of the market, making it a more secure investment environment. Additionally, websites like Singapore Projects provide comprehensive information on condo projects and their potential for investment.

Singapore has been recognized as the sixth most highly branded city in the world, according to the latest Brand Finance Global City Index. This index, published by Brand Finance, a renowned brand evaluation and strategy consultancy in London, ranks cities based on their brand power and perceptions.

The findings of the latest index were gathered from a worldwide survey conducted in September, which involved 15,000 individuals from 20 different countries. The respondents were tasked with ranking 100 cities according to key performance indicators that highlight each city’s appeal as a place to live, work, study, visit, retire, and invest in. They were also asked to associate specific attributes with each city from a list of 45 attributes grouped under seven pillars, including Business & Investment and Culture & Heritage.

Singapore’s overall ranking was boosted by its outstanding performance in the business and investment pillar, where it ranked third globally. This pillar reflects perceptions on the ease of doing business, the strength of the economy, and the support for start-ups in the city. Singapore also scored highly for its low crime and violence rates.

Managing Director for Asia Pacific at Brand Finance, Alex Haigh, highlights Singapore as the “crown jewel” of the ASEAN region when it comes to city branding. He adds, “With its leading economic growth, appealing investment opportunities, and world-class infrastructure, Singapore solidifies its position as a premier global financial center.”

Globally, London maintained its position as the top city brand, followed by New York, Paris, Tokyo, and Dubai.…

CapitaLand Investment Limited (CLI) announced at its investor day on Nov 22 that it will be expanding its business in Australia. To support this growth, the company has appointed two senior hires to newly created roles – Angelo Scasserra as CEO of CLI Australia and Rahul Bharara as chief investment officer. The two leaders are expected to join the company in the first half of 2025.

In line with its expansion plans, CLI has also committed to investing up to A$1 billion ($876.7 million) to increase its funds under management (FUM) in Australia. In September, the company completed the closing of its Australian Credit Programme (ACP), which was CLI’s first credit fund at A$265 million, supported by funding from investors in Asia.

In Singapore, investing in condos is a highly attractive option, but it’s important to consider the government’s property cooling measures. As a means of maintaining a stable real estate market and reducing speculative buying, the Singaporean government has implemented several measures over the years. One such measure is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and individuals purchasing multiple properties. While these measures may affect the short-term profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a more secure investment environment. Additionally, Singapore condos offer a great opportunity for investment and growth.

During the investor day, Lee Chee Koon, group CEO of CLI, shared that the company has also built its own private credit team and formed a partnership with teams from Wingate in Australia. This has enabled CLI to originate and underwrite deals in both Australia and the Asia-Pacific region, with a strong pipeline for future growth.

On Nov 25, the Australian Financial Review published an article stating that CLI was planning to acquire Wingate. In 2014, CapitaLand had divested its stake in Australand Property Group, which was subsequently acquired by Frasers Property and renamed Frasers Property Australia. During the Q&A session, Miguel Ko, chairman of CLI, addressed the company’s decision to sell Australand and focus on China.

Ko stated that the decision to sell Australand and invest in China was made before his time and he did not want to comment on his predecessors’ decisions. He added that at the time, China was experiencing a booming economy and CapitaLand had a strong competitive advantage. However, the company “did not have a crystal ball” about the current situation in China, and he did not wish to speculate on whether the decision was right or wrong.

Previously, Lim Ming Yan, CapitaLand’s then-president and group CEO, had stated that the divestment was made during “favourable” market conditions and Australand’s share price had been performing well before the sale. The sale allowed CapitaLand to reallocate capital to its core businesses in Singapore and China. In March 2014, CapitaLand sold its remaining 39.1% stake in Australand, after partially divesting its stake in November 2013 to improve trading liquidity.

With the recent acquisition, CLI’s FUM has increased to $113 billion, making it one of the leading players in the race to increase assets under management (AUM). The company remains committed to its expansion plans in Australia and looks forward to the leadership of Scasserra and Bharara in driving this growth.…