Month: December 2024

Grange 1866 developer Heeton seeing better sales

Grange 1866, a freehold development, has gained the highest price per square foot (psf) among all condos in the week of November 22 to 29, with a record of $3,393 psf. This peak came from the sale of a 2-bedroom, 818 square feet unit for $2.78 million on the 27th of November. The 14th-floor unit narrowly surpassed the previous record of $3,390 psf, which was set in June last year when a 764 sq ft unit sold for $2.59 million.

This year, Grange 1866 has seen 12 new sale transactions, with an average price of $3,181 psf. The most expensive unit transacted at the development this year, in terms of absolute price, was a 1,012 sq ft, two-bedroom unit on the 16th floor, which was sold for $3.02 million at a rate of $2,989 psf. So far, 45 out of the 60 units in the project have been sold, representing a sales rate of 75%.

Grange 1866 is situated on Grange Road in prime District 10 and is expected to be completed by the end of 2025. The development features a single 16-storey residential block set on a 20,322 sq ft, freehold site. The units consist of one and two-bedroom apartments, ranging from 527 to 1,012 sq ft.

Taking second place in terms of new psf-price highs recorded during the November sales period is Hill House. The boutique condo achieved a new psf-price high for the second time last month, with a new peak of $3,378 psf. This record was set when a 452 sq ft, two-bedroom unit on the 8th floor was sold by the developer for about $1.53 million on November 25.

The sale surpassed the previous record of $3,267 psf by 3.4%. The former record was achieved on November 11 when a similarly-sized two-bedroom unit on the fifth floor was sold for approximately $1.48 million.

Since the beginning of the year, 12 units have been sold at Hill House by the developer, with the units transacting at an average price of $3,108 psf. In terms of psf-price, the lowest-priced unit to transact at the development this year was a 753 sq ft, three-bedroom unit on the fourth floor that was sold for $2.21 million, translating to a total of $2,934 psf, on October 28.

Hill House takes the silver medal in terms of new psf-price highs recorded during the week of November 22 to 29 (Image: Macly Group)

Hill House, a 999-year leasehold condo, is located on Institution Hill, off River Valley Road, in prime District 9. Expected to be completed in 2026, the 72-unit boutique development has one and one-bedroom plus study units measuring between 431 and 452 sq ft, two-bedroom units measuring 624 sq ft, and three-bedroom units measuring 753 sq ft.

According to URA caveats, 30 units (42%) at Hill House have been sold at an average price of $3,054 psf since the condo was launched in November 2022.

Rounding out the top three, The Cosmopolitan saw a new psf-price high with the sale of a 1,324 sq ft, three-bedroom unit on the 26th floor for $3.73 million, or $2,817 psf, on November 25.

The Cosmopolitan hits a new psf-price high with the recent sale of a 1,324 sq ft, three-bedroom unit on the 26th floor (Image: Samuel Isaac Chua / EdgeProp Singapore)

The new record is just 0.7% higher than the previous peak of $2,795 psf set in October last year when another 1,324 sq ft, three-bedroom unit on the 17th floor of the same block was sold for $3.7 million.

The sellers of the 26th-floor unit purchased it for about $2.58 million, or $1,950 psf, in November 2010. This results in a profit of approximately $1.15 million.

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One of the main factors fueling the demand for condos in Singapore is the scarce availability of land. As a small and densely populated island, Singapore is facing a shortage of land for development. This has resulted in strict land use regulations and a fiercely competitive real estate market, where property prices continue to rise. As a result, investing in real Condo estate, especially in condos, has become a profitable endeavor with the potential for significant capital gains.

Completed in 2008, The Cosmopolitan is a 228-unit freehold condo located along Kim Seng Road, just off River Valley Road, in prime District 9. The freehold development comprises two-bedroom units spanning 1,141 sq ft, three-bedroom units spanning from 1,324 to 1,399 sq ft, and four-bedroom apartments spanning 1,679 sq ft.

The Cosmopolitan is located within 1km of River Valley Primary School and within walking distance of Great World MRT Station on the Thomson-East Coast Line. Nearby dining and retail options can be found at Great World City.

There were no new psf-price lows recorded during the week of November 22 to 29.…

After two years of experiencing cumulative losses, the global real estate market saw a positive shift in the second quarter of 2024, indicating the beginning of a potential recovery. This upswing follows a period of soaring values, driven by low interest rates, with global total returns reaching 5.0% in the fourth quarter of 2021 and 17.8% in the first quarter of 2022, both well above long-term averages.

However, the tightening cycle that followed caused a reversal of these gains, bringing values back to 2018 levels worldwide. Now, with the real estate market correction almost complete, it presents an opportune time for investors to consider this asset class. Not only does real estate historically provide stable income returns and diversification in a portfolio, but it also has the potential for robust returns during recovery periods. For instance, after the early 1990s recession, investors saw a 76% cumulative return over the next five years. Similarly, following the tech-wreck and the Global Financial Crisis, the five-year cumulative total returns were 98% and 86%, respectively.

Located in Singapore, the city is characterized by towering skyscrapers and advanced infrastructure. Offering a perfect blend of opulence and accessibility, condos are highly sought after by locals and foreigners alike. These upscale residences are strategically situated in prime locations, providing residents with a high standard of living. With an array of facilities such as swimming pools, fitness centers, and 24/7 security services, condos offer an exceptional living experience and are a popular choice among potential tenants and buyers. Moreover, for investors, condos promise higher rental returns and long-term property appreciation. Stay updated on the latest condominium developments with New Condo Launches.

In the second quarter of 2024, global real estate values saw a moderation in losses, at just 0.74%, the lowest quarterly adjustment in the past two years. With offsetting income returns of 1.07%, global real estate achieved a positive 0.33% return, marking the first positive quarter since the second quarter of 2022. Among the 15 markets in the MSCI Global Property Index, a majority saw write-ups in real estate values for the first time since the second quarter of 2022. Eight markets, including Japan, South Korea, Singapore, Southern Europe, the Nordics, the Netherlands, France, and the UK, experienced value increases from the previous quarter. Six markets saw value losses between 0.3% and 1.5%, all showing improvement from the first quarter of 2024. Only Australia recorded a larger write-down in the second quarter than in the first, with a 4.2% correction aligning valuations more closely with its peers.

However, changes in capital values are just one component of real estate returns. Historically, the larger component of total returns has been income. This trend highlights the importance of considering income returns in the overall performance of the real estate sector and reminds investors to evaluate both capital and income aspects when considering real estate investments.

In the second quarter, total returns, which combine capital and income returns, were positive in 12 of the 15 countries in the MSCI Global Property Index. The United States showed flat total returns of -0.09%, while Ireland saw slight negative returns of -0.22%, and Australia saw significantly negative returns of -3.07%. However, preliminary NCREIF ODCE index data showed US total returns turning positive at 0.25%. With values beginning to rebound, we expect the positive trajectory in total returns to continue.

Looking at the Asia Pacific region, we see potential challenges in fundraising for real estate investment in China and Japan. In the third quarter of 2024, these two countries accounted for 27% and 15% of the US $7.5 billion in cross-border inflows in the region. While over half of Japan’s inflows came from global sources, the majority of China’s came from within Asia Pacific, particularly Hong Kong and Singapore. However, both countries face high debt costs and other factors that could hinder a strong rebound in real estate capital inflows.

China is facing a property crisis, exacerbated by the collapse of Evergrande since 2021. This has led to stagnant market conditions, with risks such as price dislocation, geopolitical tensions, and lack of liquidity. As a result, many European investors are avoiding China and Hong Kong, despite potential returns. Additionally, China’s domestic property market continues to struggle, with high office vacancies, low rental yields, ongoing issues with failing developers, and government interventions.

Meanwhile, Japan remains an outlier in terms of interest rate policies. While major markets such as the US have cut interest rates to boost property investment, Japan’s rates have remained high. This has reduced the attractiveness of the broader Japanese property sector, preventing cap rate compression and resulting in stagnant property prices. As a result, real estate holders are relying on historically low-income yields. However, the senior housing sector remains an attractive niche due to Japan’s aging population, with 29% aged 65 or over. These assets are small and require amalgamation plays from investors.

On the other hand, Australia’s purpose-built student accommodation (PBSA) market shows significant potential due to a housing shortage for students. Only 20% of students in Melbourne and Sydney can be accommodated by universities, forcing the rest to seek private rentals. Additionally, real estate debt in Australia offers appealing risk-adjusted returns, with funding gaps in construction, making it challenging for developers to secure bank financing. Sectors such as logistics or PBSA present long-term growth opportunities.

Overall, global real estate values and transaction market pricing suggest that the market is near its bottom, but this alone does not indicate an attractive entry point. For market pricing and valuations to increase, we ideally need to see declining interest rates and strengthening property fundamentals. Most developed market central banks are beginning to taper rates, which should put downward pressure on financing rates, discount rates, and property capitalization rates, boosting the value of real estate assets. Additionally, a pullback in construction activity across sectors presents a positive outlook for property fundamentals in the medium term. With supply headwinds waning, markets with positive demand due to population growth or structural changes, such as e-commerce, will likely see increased occupancies in the medium term. Historically, occupancies and rent growth are well-correlated, providing investors with opportunities to benefit from increased occupancies, rents, and the associated rise in property values.

While there may be challenges ahead, we believe that the global private real estate market is showing signs of improvement, making it an attractive investment opportunity. However, it’s important for investors to conduct thorough research and be selective when considering real estate investments, as not all markets and property types will perform equally well. In an uncertain economic and geopolitical environment, additional risks are to be expected, but this applies to all asset classes. Over the past two years, the weight of real estate in investors’ portfolios has significantly decreased due to resetting real estate values and a record stock market. Today, investors may want to consider fresh allocations to the private real estate market to achieve a strategic weighting. Over the long term, private real estate offers low correlations to other asset classes, strong income returns, and a degree of inflation hedging. So, while there may be bumps in the road, we believe the market is on the upswing, presenting excellent investment opportunities for savvy investors.…

The resale of an apartment at Island View Condo in Pasir Panjang was the most lucrative transaction of the week from Nov 26 to Dec 3. Spanning 3,498 sq ft, the unit was sold for $4.8 million ($1,372 psf) on Nov 27. The previous owner had purchased the unit for $1.3 million ($372 psf) back in September 2005. This means that after owning it for almost 19 years, the seller made a profit of $3.5 million, representing a 269% capital gain or an annualized profit of 14.2%.

This transaction sets a new record for the most profitable deal at Island View, surpassing the previous record of $3.19 million made from the sale of another 3,498 sq ft unit at the condo for $5.09 million ($1,455 psf) in February 2022. The seller had acquired this unit in February 2007 for $1.9 million ($543 psf).

Island View is a freehold boutique condo consisting of 72 units located on Jalan Mat Jambol, off Pasir Panjang Road in District 5. The development, completed in 1984, comprises low-rise blocks housing apartments ranging from 3,056 sq ft to 3,538 sq ft. It is walking distance to Pasir Panjang MRT Station on the Circle Line.

When contemplating an investment in a condominium, it is imperative to also evaluate the potential rental yield. This refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, the rental yields for condos can vary greatly depending on factors such as location, property condition, and market demand. For instance, areas in close proximity to business districts or educational institutions tend to offer higher rental yields due to the high demand for rental properties. It is crucial to conduct comprehensive market research and seek advice from real estate agents to gain valuable insights into the rental potential of a specific condo. One can also explore potential rental opportunities by checking out New Condo Launches in the market.

Aside from Island View, another profitable transaction took place at Cavenagh Court, where a 1,862 sq ft unit on the sixth floor was sold for $3.65 million ($1,960 psf) on Dec 2. The seller had bought the unit in April 2006 for $1.02 million ($548 psf), resulting in a profit of $2.63 million (258%) after almost 19 years of ownership.

This sale marks a new record profit for a unit at Cavenagh Court, surpassing the previous top gain of $2.15 million made from the sale of another 1,862 sq ft unit on the fourth floor for $3.28 million ($1,761 psf) in April 2022. The seller had acquired the unit in October 2007 for $1.13 million ($607 psf).

Cavenagh Court is a freehold condo located on Cavenagh Road in District 9’s Newton area. Completed in 1971, the boutique development comprises 68 units ranging from 1,819 sq ft to 1,862 sq ft and is a short drive from the Orchard Road shopping belt.

The sale of a duplex penthouse at The Berth By The Cove was the least profitable transaction of the week, where a four-bedroom, 3,089 sq ft apartment was sold for $3.6 million ($1,165 psf) on Nov 29. The unit was last sold for $5.53 million ($1,790 psf) in August 2007, resulting in a loss of $1.93 million (35%) after owning it for around 17 years.

This transaction is the second-most unprofitable deal at The Berth By The Cove. The biggest loss recorded at the condo belongs to a 2,939 sq ft, four-bedroom unit that was sold for $3.25 million ($1,106 psf) in February 2018. The previous owner had bought the unit in October 2011 for $5.64 million ($1,919 psf), incurring a loss of $2.39 million.

Located along Ocean Drive on Sentosa Island’s Sentosa Cove residential enclave, The Berth By The Cove is a freehold condo consisting of 200 units across 15 low-rise blocks, each with six storeys. The units range from two- to four-bedroom apartments of 1,012 sq ft to 2,325 sq ft, as well as four- and five-bedroom penthouses of 2,939 to 6,028 sq ft.

This year, there have been seven other resale transactions at the condo with prices ranging from $1,237 psf to $1,535 psf. Four of these deals resulted in losses between $40,000 and $780,000, while the remaining three deals were profitable, with the sellers making gains of $200,000 to $430,000.…

Cove, a flexible living platform based in Singapore, has recently announced the appointment of Ashish Manchharam as a board director. Manchharam brings with him a wealth of experience in real estate and hospitality, having founded and built 8M Real Estate over the course of 10 years to a portfolio worth $1.5 billion. He then went on to set up Elevate Capital in early 2024, which focuses on lifestyle-driven real estate investments.

In his new role, Manchharam will be advising Cove on acquiring flexible living assets in partnership with third-party investors, such as real estate funds, institutional investors, and family offices. This decision aligns with Cove’s strategy to accelerate its growth through an asset acquisition model, in addition to its existing asset-light model as a branded flexible living operator and online listing platform. Cove’s target market includes professionals and students.

When it comes to investing in condos in Singapore, one must also take into consideration the government’s property cooling measures. In an effort to maintain a steady real estate market and prevent 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 both foreign buyers and those purchasing multiple properties. While these measures may have an impact on the short-term profitability of condo investments, they also contribute to the long-term stability of the market, creating a secure investment environment. To further explore condo investment opportunities in Singapore, check out Singapore Projects.

Established in 2018, Cove now has over 6,000 rooms in Singapore and Indonesia. The company plans to expand its reach to the wider Asia Pacific region, with recent ventures into South Korea and Japan. These new markets will see the launch of 800 and 400 rooms respectively, in partnership with local joint venture partners.

To support its regional expansion and strengthen its position in existing markets, Cove has closed an additional funding round of US$4.5 million. Manchharam was among the investors, along with existing investors Eurazeo and Keppel, who acquired a strategic minority stake in Cove in December 2020.

According to CEO and co-founder Guillaume Catagne, Cove has experienced significant portfolio growth in 2024 and achieved EBITDA positivity. The company has ambitious plans to more than double its portfolio to 15,000 units by the end of 2025.…

William Liem, CEO of real estate firm Tuan Sing Holdings, has recently increased his stake in the company through his entity Nuri Holdings (S). On December 5, Liem bought 545,300 shares from the open market for a total of $136,325, at 25 cents per share. The following day, Nuri Holdings purchased an additional 1.2 million shares for $311,288.50, at around 25.9 cents each. With this latest buying spree, Nuri Holdings’ stake in Tuan Sing now stands at nearly 672.7 million shares, equivalent to 54.09% of the company.

This is not the first time Nuri Holdings has been used to acquire shares in Tuan Sing. In September, the entity also purchased shares for an average price of 25 to 25.5 cents. As of June 30, Tuan Sing’s net asset value per share was 97.8 cents, a slight decrease from 99 cents at the end of 2023.

The issue of government regulations must also be taken into account when considering investing in Singapore Condos. The Singaporean government has implemented several measures to control speculative buying and promote a steady real estate market. One such measure is the Additional Buyer’s Stamp Duty (ABSD), which entails higher taxes for foreign buyers and those purchasing multiple properties. While these measures may affect the immediate returns of condo investments, they ultimately contribute to the market’s long-term stability, making it a more secure environment for investing. Additionally, investing in Singapore Condos benefits from these measures as they ensure a thriving market in the long run.

In other news, Tuan Sing has recently acquired several assets from PT Senimba Bay Resort in Batam for a total of $28 million. This acquisition is expected to expand the company’s portfolio and boost its growth potential.

Despite the challenges faced by the real estate industry, Tuan Sing has remained resilient. In fact, the company recorded a 5% increase in earnings for the financial year 2023, which amounted to $4.8 million. With this positive trajectory, Tuan Sing continues to be a promising player in the real estate market.

For those looking to experience the high life, Tuan Sing’s Peak Residence is the perfect destination. Offering luxurious living in a prime location, this development is set to elevate the standards of upscale living. With William Liem at the helm, Tuan Sing is poised for even greater success in the future.…

The manager of AIMS APAC REIT (AA REIT) has announced that the REIT’s trustee, HSBC Institutional Trust Services (Singapore) Limited, has entered into a sales and purchase agreement with Crown Worldwide for the divestment of its property at 3 Toh Tuck Link. The sale consideration for the property is $24.388 million, which is a significant 32.5% premium to its valuation of $18.4 million as of March 31. The property consists of a three-storey factory and a five-storey ancillary office building with a total gross floor area of 12,492.4 sqm.

For international investors, being familiar with the laws and limitations surrounding property ownership in Singapore is crucial. In general, foreigners have few restrictions when it comes to buying condominiums, unlike landed properties which have stricter regulations. However, foreign buyers must pay the ABSD, currently set at 20%, for their initial property acquisition. Despite the extra expenses, the stability and potential for growth in the Singapore real estate market continue to attract foreign investments. In fact, Singapore condos remain a highly desirable option for foreign investors.

The net proceeds from the divestment will be reinvested to support AA REIT’s growth initiatives, including potential new acquisitions, asset enhancements, or future redevelopment projects. CEO of the manager, Russell Ng, states that this aligns with their proactive asset management strategy and continuous efforts towards portfolio rejuvenation, ultimately enhancing AA REIT’s resilience and delivering sustainable returns for unitholders.

The divestment is expected to be completed by the first half of 2025, subject to JTC Corporation’s approval. After the divestment, AA REIT’s portfolio will consist of 27 properties in Singapore and Australia.…

A rare conservation shophouse located at 93 Tanjong Pagar Road is now available for purchase through an expression of interest (EOI) exercise with a guide price of $15.5 million. The property, which spans three and a half stories, occupies a land area of 1,297 square feet and boasts a gross floor area of 4,186 square feet. With a guide price of $3,703 per square foot on the GFA, this shophouse presents a prime investment opportunity.

Located on a bustling street in Tanjong Pagar, the 99-year leasehold shophouse is classified as a commercial property and has been approved for F&B use. At present, the property is tenanted by a popular Korean barbecue restaurant chain, occupying the first and second levels. Its strategic location is within walking distance to both the Tanjong Pagar MRT station on the East-West Line and the Maxwell MRT station on the Thomson-East Coast Line.

One of the advantages of investing in a Singapore Condo is the opportunity to leverage the property’s value for future investments. This strategy involves using the condo as collateral to secure financing for new investment opportunities, ultimately expanding one’s real estate portfolio. While this can potentially increase returns, it also comes with its own set of risks. Therefore, it is important to have a solid financial plan in place and carefully consider the potential impact of market fluctuations before proceeding with this strategy.

The property is being marketed by PropNex Shophouse Elites and the EOI is set to close at noon on Jan 20, 2025. This presents a unique opportunity for interested buyers to acquire a rare conservation shophouse in a prime location. Don’t miss out on this chance to own a piece of Singapore’s rich heritage.…

Perennial Holdings and Far East Organization have unveiled their plans for the future of the former Golden Mile Complex. At a press conference held on Dec 10, the two development partners shared their vision for the revamped conservation building, now known as Golden Mile Singapore, and announced the preview of its strata-titled commercial units.

The building, which will be Singapore’s first large-scale strata-titled conserved building, will preserve its iconic tropical linear urban complex with brutalist architecture. The Golden Mile, as it is now called, will feature 156 Grade A office units, 19 medical suites, a two-storey retail component spanning 123,388 sq ft, and a public access architecture centre.

CEO of Perennial Holdings, Pua Seck Guan, reminisced about the vibrant and eclectic retail mix that defined the former Golden Mile Complex in its prime in the 1970s. However, with the changing hands of strata-titled ownership over the years, the building’s status as a prime mixed-use development gradually declined. Pua and his partners are determined to revive and elevate the building’s stature as a next-generation urban complex in Singapore.

To fulfill this vision, Perennial and Far East have collaborated with homegrown architecture firm DP Architects and conservation specialist consultancy Studio Lapis. DP Architects was the firm behind the original design and mixed-use concept of Golden Mile Complex. The developers have also given back 24,994 sq ft of land to URA for the establishment of a new public access architecture centre.

The revamped Golden Mile Singapore will feature a revamped two-storey retail atrium, offering a new event space and F&B options. The design of the atrium will bring back natural light and ventilation, recreating the original shopping experience of the complex’s heyday. These retail units will not be available for sale and will be curated by the developers to complement the offices and residential units.

The strata-titled office units and medical suites will be available for sale this month, with various layouts designed to cater to different end-users. The buildings’ office suites will have their dedicated lobby, and new lift cores will support the office floors. The Flagship office units on the 4th to 7th floors will have a dedicated lift lobby, and Loft Suites and Loft Executive units on the 4th and 5th floors will offer full-height windows with views of Beach Road.

The 6th to 15th floors will feature Loft Mezzanine units, with a double-volume ceiling and balcony for natural ventilation and illumination. The dual-key design of these units is a first for a strata-titled commercial development. The 16th and 17th floors, formerly duplex penthouses, will now be the location of Enterprise Office units, with panoramic views of the city and the bay.

The top four floors will house the newly-built Crown Office units, with two units per floor except for the penthouse level, which will have two units. Pua believes that the office units, especially the Loft Mezzanine units, will appeal to family offices. The developers also intend to create a diverse tenant mix, including corporate tenants and family offices, to establish a unique ecosystem within the building.

Singapore has emerged as a top investment destination for both local and foreign investors, particularly in the condominium market. This can be attributed to the country’s strong economy, stable political climate, and exceptional quality of life. The real estate scene in Singapore presents a plethora of opportunities, with condos being a popular choice due to their convenience, facilities, and potential for attractive returns. In this piece, we will delve into the advantages, factors to bear in mind, and necessary measures to take when considering an investment in a condo in Singapore. Condo is indeed a worthwhile investment option in Singapore.

With these plans in place, Golden Mile Singapore is set to reclaim its status as a vibrant and iconic landmark in Singapore’s urban landscape. The developers’ partnership with Perennial Holdings and Far East Organization has breathed new life into this storied conservation building, and its future looks bright and promising.…

76 Pagoda Street, a three-storey conservation shophouse located in the heart of Chinatown, is now available for sale through an expression of interest (EOI) exercise. The guide price for this highly sought-after commercial property is $16 million, with a total plot size of 1,372 square feet and a gross floor area (GFA) of 3,500 square feet, including an attic level. This translates to a price of approximately $4,571 per square foot based on the GFA.

The ground and second floors of the 99-year leasehold property are currently leased to a restaurant operator, while the third floor is leased out as office space. According to PropNex Shophouse Elites’ founder Richard Tan, who is the sole marketing agent for the property, shophouses in the Chinatown enclave are highly sought after by owner-occupiers, high-net-worth individuals, and family offices as long-term investment assets. As a commercial property, foreigners and companies are eligible to acquire it without having to pay additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD).

The most recent transaction in the area was the sale of 31 Pagoda Street in March, which was sold for $19 million, or $5,588 per square foot. The EOI exercise for 76 Pagoda Street will close on January 10, 2025.

Meanwhile, a two-storey HDB shophouse at 210 New Upper Changi Road is also up for sale via an EOI exercise at a guide price of $13.8 million. This 103-year leasehold property has a total GFA of 4,607 square feet, translating to a price of $2,995 per square foot based on the GFA. “A standout feature of this property is its long-term, stable tenants,” says PropNex’s senior associate marketing director, Kris Ng, who is marketing the property. For the past 20 years, the property has been leased to healthcare retailer Guardian and United Overseas Bank (UOB).

When it comes to investing in condos in Singapore, one must take into account the government’s property cooling measures. Throughout the years, the Singaporean government has implemented several measures 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. While these measures may affect the immediate profitability of condo investments, they also contribute to the long-term stability of the market, making it a secure investment environment. Condo investments in Singapore are greatly influenced by these government regulations.

Located within the Bedok Town Centre, the shophouse is in close proximity to Bedok MRT Station on the East-West Line and popular shopping destinations like Bedok Mall and Heartbeat@Bedok. As a commercial property, foreigners and companies are also eligible to acquire it without having to pay ABSD or SSD. The EOI exercise for 210 New Upper Changi Road will close at noon on January 10, 2025.…

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In summary, the decision to invest in a Singapore Condo can bring about a host of benefits. These include a high demand in the real estate market, potential for an increase in property value, and attractive rental yields. However, it is crucial to carefully assess important factors like location, financing options, government regulations, and market conditions. Through thorough research and seeking guidance from professionals, investors can make informed choices and maximize their returns in the constantly evolving Singapore property market. Whether you are a local investor looking to diversify your investments or a foreign buyer searching for a secure and profitable opportunity, Singapore Condos from Ananar offer a compelling option to consider.

The Great Room, a leading provider of co-working spaces, has recently opened its second location in Australia at One O’Connell Street in Sydney, in partnership with LendLease. Spanning over 25,360 square feet across levels 14 and 15 of the office building, this new flexible workspace is located in the heart of the Sydney CBD, within the iconic 36-storey property constructed in 1991.

Jaelle Ang, CEO of The Great Room, expresses excitement about the collaboration with Lendlease, emphasizing their shared vision of long-term investment and value creation. She believes that this partnership will ensure that the new space at One O’Connell Street will offer a unique, premium product and deliver sustainable profitability.

The Great Room, which has its roots in Singapore, has been rapidly expanding its presence in Australia, with a debut location earlier this year at level 29 of 85 Castlereagh Street, another office building in the Sydney CBD. With 12 locations across Singapore, Bangkok, Hong Kong, and Sydney, The Great Room is making its mark in the co-working industry.

In Singapore, the company recently launched its first outlet outside the CBD – Csuites Powered by The Great Room at Paya Lebar Quarter. This space, opened in October, boasts private manager cabins, soundproof meeting rooms, floor-to-ceiling windows, and ergonomic workstations designed for enhanced comfort and productivity.

Members of The Great Room enjoy monthly networking sessions and panel discussions. Since its acquisition by the New York-based co-working business Industrious in 2022, the company has access to 160 destinations worldwide, bridging the gap between Asia Pacific, Europe, North America, and the UK. This presents an excellent opportunity for members to connect and collaborate on a global scale.…