Month: January 2025

Tengah Gardens Avenue GLS site draws top bid of $675 million

The tender for the Government Land Sale (GLS) site at Tengah Gardens Avenue closed on January 14 with three bids. A consortium led by Hong Leong, which includes GuocoLand Singapore and CSC Land Group, submitted the top bid of $675 million, or $821 per square foot per plot ratio (psf ppr).

The 99-year leasehold site is zoned for “Residential with Commercial at 1st storey” and covers approximately 273,906 square feet, with a maximum gross floor area (GFA) of 821,720 square feet. The Urban Redevelopment Authority (URA) estimates that the site could potentially yield up to 860 residential units.

If awarded, the Hong Leong-led consortium plans to build an 860-unit condo, taking advantage of the enhanced connectivity provided by the upcoming Jurong Region Line (JRL) nearby. According to Loke Kee Yeu, the general manager (Projects) at Hong Leong Holdings Limited, the JRL will contribute to the growth of the new Tengah estate.

The Tengah Gardens Avenue site is located near the upcoming Hong Kah MRT Station on the JRL, which is just one stop away from the upcoming Tengah Town Centre. It also offers a direct route to the second Central Business District at Jurong Lake District.

The top bid of $821 psf ppr for the Tengah Gardens Avenue site was only 0.73% higher than the second-place bid of $815 psf ppr, submitted by Chinese developer Kingsford Group. Local developer Sim Lian Group submitted the third and final bid of $812 psf ppr.

In Singapore, modern architecture and impressive infrastructure dominate the city’s iconic skyline. The metropolis is adorned with towering edifices and contemporary designs, making it a thriving hub for luxurious living. The most coveted locations in the city are speckled with high-end condominiums, catering to the tastes of both locals and foreigners alike. These residential havens offer a perfect blend of elegance and convenience, with top-of-the-line amenities such as swimming pools, fitness centers, and round-the-clock security, making them highly desirable among potential tenants and buyers. For real estate investors, these attractive features guarantee high rental returns and long-term appreciation in property value. The ever-growing demand for upscale living has led to the constant release of new condo launches by developers, further expanding the options available in Singapore’s condominium market. Explore the latest new condo launches and elevate your living experience in Singapore’s opulent cityscape.

Despite the increase in homebuyer activity towards the end of 2024, developers are still cautious, according to Leonard Tay, the head of research at Knight Frank Singapore. Another GLS site at Dairy Farm Walk also closed on January 14, with only two bids received.

Tay believes that developers may be concentrating on existing sites that are currently being prepared for launch in 2025. He also points out that the tight bid price spread between the three bids (less than 1%) indicates that developers are being conservative with their bids.

Mark Yip, the CEO of Huttons Asia, believes that developers are trying to keep their land bids reasonable in order to maintain an attractive selling price for buyers.

Yip predicts that more property developers will submit joint bids for GLS sites this year in order to diversify risk. This could be one reason why the number of bids for GLS tenders has remained around three.

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

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

If awarded, the Tengah Gardens Avenue site will be home to the first private residential site (excluding Executive Condominiums) in the Tengah HDB township.

The estate’s first Executive Condominium, Copen Grand, was successfully launched for sale in 2022. The 639-unit project sold out within a month of its launch by joint developers City Developments Ltd (CDL) and MCL Land. The developers secured the Executive Condominium site with a winning bid of $400.32 million, or $603 psf ppr, in May 2021.

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

As the first private condo, the development could attract a wider range of buyers compared to Executive Condominiums, which are subject to HDB eligibility criteria and restrictions such as a five-year minimum occupation period (MOP) and a monthly household income ceiling of $16,000, says Mohan Sandrasegeran, the head of research & data analytics at SRI.

The Tengah Gardens Avenue site is located within 2km of the future Anglo-Chinese School (Primary), according to Ismail Gafoor, the CEO of PropNex. With the school set to become a co-ed school in 2030, the site’s proximity to the school could be very attractive to families with school-aged children.

If the site is awarded at the top bid of $821 psf ppr, PropNex estimates that the average selling price of the new private condo could be around $2,000 psf.…

An exceptional opportunity has emerged in the heart of District 14, as a freehold 15 loft-room hotel at 739-1 Geylang Road is now available for purchase at $14 million. This 2-storey property, along with a newly added 4-storey extension, sits on a 1,273 sq ft plot and boasts of an approved gross floor area (GFA) of up to 3,186 sq ft.

As you contemplate investing in a condo, it is crucial to also evaluate the potential rental yield. Rental yield refers to the yearly rental income as a percentage of the property’s buying price. In Singapore, rental yields for condos can fluctuate greatly depending on factors like location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, offer more favorable rental yields. To gain clarity on the rental potential of a specific condo, conducting comprehensive market research and seeking advice from real estate agents is essential. Additionally, checking out Singapore Projects can also provide valuable insights.

One of the most remarkable features of this hotel is that it holds a permanent ‘Hotel’ zoning and usage approval, an uncommon and highly sought-after classification in Singapore. This approval further elevates the property’s investment appeal and operational flexibility. Additionally, its prime location, just a 5-minute walk from the Paya Lebar MRT station, offers excellent connectivity. Paya Lebar MRT is a dual-line station, serving the East-West line and Circle line, making it easy for guests to access various parts of Singapore seamlessly.

Incorporating a refined Japandi theme, construction of the hotel is currently underway and is expected to receive its Temporary Occupation Permit (TOP) in Q2 2025. The sale price is all-inclusive, covering all construction and renovation expenses, making it a turnkey investment perfect for those looking to establish or expand their presence in the hospitality industry.

For investors, this property presents a highly attractive opportunity. The current owner, an experienced hotel operator, is open to a sale and leaseback arrangement. This offers the advantage of receiving immediate rental income and ensuring operational continuity. Senior Marketing Director of ERA Realty Network Pte. Ltd., Eva Lau, anticipates that this hotel will appeal to owner-operators. The renovations already in progress will allow for a smooth and swift commencement of operations.

Over the past year, the demand for hospitality assets in Singapore has steadily increased. Some significant transactions include LHN Group’s purchase of Pasir Panjang Inn, a 16,626 sq ft property, for $30 million. In early 2020, an 8-storey hotel at 12 Lorong 12 Geylang was put up for sale at $120 million. Moreover, Hotel JJH, a 25-room establishment at 747 North Bridge Road, is now on the market for $38 million. These trends highlight the strong demand for well-situated, top-quality hospitality properties, which are regarded as one of the most desirable commercial shophouse usage types in Singapore.

For more details, contact Eva Lau at 92785688, Senior Marketing Director (R062169F) of ERA Realty Network Pte. Ltd.

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JLL names new head of energy and infrastructure for Asia Pacific

Real estate advisory firm JLL has announced the appointment of James Cameron as the new head of energy and infrastructure for Asia Pacific under its capital markets business line. Cameron, who joins the firm from Standard Chartered Bank, will be based in Singapore.

In his new role, Cameron will be responsible for building a team in Asia Pacific and collaborating with JLL’s capital markets, investment banking and debt advisory teams across the region. He will focus on originating capital raising and transaction advisory opportunities for large infrastructure and renewable energy transactions for institutional investors, private equity firms, asset managers, strategic infrastructure and renewables operators and developers, high net-worth individuals, and family offices.

According to JLL, Cameron’s appointment is in line with the increasing demand for long-term capital to support the infrastructure and renewables build-out required to meet the challenges of decarbonisation, digitalisation, economic growth, and rapid urbanisation.

Stuart Crow, JLL Asia Pacific’s CEO of capital markets, says: “We see significant opportunity to leverage our unique expertise in mobilising multiple sources of capital and JLL’s unrivalled track record in advising renewables transactions globally to serve clients within energy and infrastructure across Asia Pacific.”

Cameron brings with him over 25 years of experience in real asset capital markets. He was previously the global head of commercial real estate at Standard Chartered Bank, where he was responsible for mobilising various forms of private and public equity and financing across the global and regional infrastructure sectors.

Investing in a condo in Singapore has emerged as a top choice for both local and foreign investors, owing to the country’s thriving economy, stable political climate, and excellent quality of life. With a plethora of opportunities available in Singapore’s real estate market, condos have emerged as a highly desirable investment option, thanks to their convenience, amenities, and potential for lucrative returns. In this article, we will delve into the advantages, factors to consider, and steps to follow when investing in a condo in Singapore.

“We’re extremely confident in James’ ability to establish JLL’s leadership position within this exciting space through his expertise and client relationships,” adds Crow.

JLL’s latest appointment is a part of its efforts to expand its capital advisory capability and better serve local and international developers and investors. It also aligns with the firm’s long-term strategy to facilitate the infrastructure and renewables build-out in the region.…

Two neighboring Good Class Bungalows (GCBs) situated at 52 and 54 Belmont Road in the upscale Belmont Park GCB area are currently available for sale through an expression of interest (EOI). It is believed that the owners of the GCBs are family members. The freehold properties sit on a total land area of 41,741 sq ft and are being marketed at a guide price of $88.8 million, equivalent to a land rate of $2,128 psf. With a 44m frontage along Belmont Road and an average depth of 66m, the combined plots are being marketed by Sakal Real Estate Partners.

The cityscape of Singapore exudes a modern feel with towering skyscrapers and state-of-the-art infrastructure. Among them, Singapore Condos, strategically located in prime areas, offer a perfect blend of opulence and convenience, appealing to both locals and foreigners alike. These residential buildings are equipped with luxurious amenities including swimming pools, fitness centers, and round-the-clock security services, making them highly desirable for potential renters and buyers. For investors, these sought-after perks equate to greater rental returns and appreciation of property values over time. Singapore Condos truly elevate the urban living experience in this bustling city.

According to Lennon Koh, senior director at Sakal, this site is likely to attract families looking to build a new home for multi-generational or extended living arrangements. In addition, it is also suitable for developers seeking to enter the exclusive GCB market. Recent transactions on Belmont Road as recorded by URA shows that the most recent sale in December last year was a GCB sitting on a land area of 19,549 sq ft, which sold for $40 million ($2,046 psf).

Sakal also highlights that in July 2024, a pair of adjacent GCB plots on Belmont Road were transacted at a record price of $131.4 million or $3,000 psf, based on a combined land area of 43,790 sq ft. Nearby, another GCB at Bin Tong Park changed hands in April for $84 million, which works out to $2,988 psf for its land area of 28,111 sq ft.

Steven Ming, managing director at Sakal, expects strong interest for the GCBs on Belmont Road due to their prime location and the resilient demand for GCBs. He notes that the estimated total value of GCB transactions in 2024 was $1.32 billion, higher than the figures for 2023 ($433 million) and 2022 ($1.18 billion). Sakal anticipates more GCB transactions in 2025.

Interested parties have until March 13 at 3pm to submit their EOI for the GCBs on Belmont Road.…

JLL, a leading real estate consulting firm, has announced the appointment of James Cameron as its new head of energy and infrastructure for the Asia Pacific region within its capital markets business line. This new role, based in Singapore, will focus on building a strong team in the region to support the firm’s global capital advisory capabilities.

Cameron’s appointment comes at a significant time, as JLL continues to see a growing need for long-term capital in the energy and infrastructure sector. With the challenges of decarbonisation, digitalisation, economic growth, and rapid urbanisation, there is a heightened demand for the development of infrastructure and renewable energy projects.

Stuart Crow, CEO of capital markets for JLL Asia Pacific, explains, “We recognize the immense potential in this sector and believe that James has the expertise and experience to help us capitalize on it.” He goes on to state that the addition of Cameron to the team will complement the firm’s existing energy and infrastructure business line in the EMEA region, creating a global capital advisory capability for their clients.

Cameron brings with him over 25 years of experience in real asset capital markets and was previously the global head of commercial real estate at Standard Chartered Bank. His experience in mobilizing both private and public equity and financing for infrastructure projects on a global and regional scale will be invaluable in his new role at JLL.

In his new role, Cameron will work closely with JLL’s capital markets, investment banking, and debt advisory teams throughout the Asia Pacific region. He will focus on originating capital raising and transaction advisory opportunities for large infrastructure and renewable energy projects for a range of clients including institutional investors, private equity firms, asset managers, strategic infrastructure and renewable operators and developers, high-net-worth individuals, and family offices.

In summary, purchasing a Singapore Condo can bring about numerous benefits such as a high demand for housing, potential for valuable appreciation, and appealing rental returns. Nevertheless, it is crucial to carefully take into account various factors, such as location, financing, government regulations, and market conditions. By conducting thorough research and seeking professional guidance, investors can make well-informed decisions and optimize their profits in Singapore’s ever-evolving real estate market. So whether you are a local individual seeking to diversify your investment portfolio or a foreign buyer looking for a secure and profitable asset, investing in a Singapore Condo through platforms like Singapore Condo holds great potential.

Crow expresses confidence in Cameron’s ability to establish JLL’s leadership position in the energy and infrastructure sector through his expertise and strong client relationships. He states, “We are excited for James to join our team and look forward to the success he will bring to JLL and our clients in this dynamic and rapidly evolving industry.”…

Over the weekend of Jan 11 to 12, the highly anticipated mixed-use development, One Bernam, in Tanjong Pagar, offered 87 units for sale at promotional prices. The project, jointly developed by MCC Land and Hao Yuan Investment, first launched in May 2021 and features 351 residential units on a 99-year leasehold.

According to caveats lodged as of Jan 10, over 75% of the units have already been sold at an average price of $2,585 psf. In order to boost sales, the developers announced promotional prices for all of the remaining 87 units, including one-bedroom to three-bedroom units as well as penthouses.

Potential buyers can refer to the latest New Launches section for transaction prices and available units. During the promotional period, one-bedroom units ranging from 441 sq ft to 463 sq ft were sold at prices ranging from $1.295 million ($2,934 psf) to $1.328 million ($2,869 psf), with discounts of $323,000 to $438,000.

Securing financing is a crucial element in investing in a Singapore condo. The country boasts a variety of mortgage choices, but it’s crucial to understand the Total Debt Servicing Ratio (TDSR) framework. This framework restricts the amount of loan a borrower can obtain, taking into account their income and current debt commitments. Familiarizing oneself with the TDSR and seeking guidance from financial experts or mortgage brokers can aid in making well-informed decisions and prevent over-stretching one’s financial capabilities. For more information on Singapore condos, visit Singapore Condo.

Meanwhile, the two-bedroom apartments, which range from 700 sq ft to 732 sq ft, saw price discounts from $437,000 to $668,000, with units sold at prices from $1.752 million ($2,394 psf) to $1.78 million ($2,544 psf). The two-bedroom plus study units, which are between 807 sq ft to 872 sq ft, had discounts ranging from $380,000 to $800,000 and were sold at prices ranging from $2.139 million ($2,581 psf) to $2.158 million ($2,475 psf).

Additionally, three-bedroom units of 1,421 sq ft had discounts ranging from $616,000 to $830,000, with units sold at $3.496 million ($2,461 psf) to $3.526 million ($2,482 psf).

The project’s CEO, Marcus Chu, highlights the strong interest and demand for the property as a stable and high-potential asset, with 78% of the units purchased for investment purposes. It was also reported that 87% of buyers are Singaporeans, with 70% aged between 31 to 50 years old.

As of now, following the overwhelming response, only three penthouses are currently available for sale, bringing total sales to 99%. They consist of two units of three-bedroom penthouses with sizes of 1,744 sq ft and 1,948 sq ft, while the last unit is 4,306 sq ft in size and comprises five bedrooms.

Chu also predicts that as the project is scheduled to obtain a Temporary Occupation Permit (TOP) in March 2026, investors can start generating rental income to support their loan instalments.

Based on EdgeProp Landlens data, the average monthly rents of existing apartment projects in the area, such as Altez, Eon Shenton and 76 Shenton, range from $6.90 psf to $7.40 psf.

Looking ahead, Chu believes that the reduced competition from foreign buyers due to the hike in Additional Buyer’s Stamp Duty (ABSD) imposed in 2023 has opened up more opportunities for local buyers to enter the market. He adds that local demand is expected to continue being the key driver for Central Core Region (CCR) properties moving forward, with competitive pricing making these developments a desirable and stable investment choice.

Interested buyers can check out the latest listings for One Bernam properties and ask for advice at Buddy. They can also refer to the price trend chart for One Bernam and compare the trend between new and resale condos. For those keen on upcoming new launch projects, they can refer to the price trend chart for District 2 and search for any rental listings in the area.

Also, to understand the buyer profile for One Bernam, check out our property market insights.…

The Real Estate Developers’ Association of Singapore (Redas) has announced its newly elected management committee for the coming two-year term. During its Annual General Meeting on January 9, members unanimously re-elected Tan Swee Yiow, Chairman of Keppel Reit Management, as President, marking his second consecutive term in the role.

On his re-election, Tan expressed his gratitude for the trust placed in him and the honour of being re-elected. He also mentioned that the new management committee is comprised of a diverse range of professionals from various sectors, scales, and expertise within the real estate industry.

The new management committee includes Immediate Past President Chia Ngiang Hong, Group General Manager of City Developments; First Vice President Kwee Ker Wei, Director of Pontiac Land Group; Second Vice President Marc Boey, Executive Director of Project Services at Far East Organization; Honorary Secretary Chong Hock Chang, Group Director of Projects and Marketing at Ho Bee Land; Honorary Treasurer Neo Soon Hup, Chief Operating Officer of UOL Group; Honorary Assistant Secretary Chew Peet Mun, Managing Director of Investment and Development at CapitaLand Development Singapore; and Honorary Assistant Treasurer Tho Leong Chye, Managing Director of Allgreen Properties.

In related news, Redas recently celebrated its 65th anniversary and honoured Chia Ngiang Hong with the Lifetime Achievement Award.

Chia Ngiang Hong, Immediate Past President of Redas, congratulated the newly elected management committee and praised Tan’s exemplary leadership, which was reflected in his unanimous re-election.

Investing in real estate requires careful consideration of many factors, and one of the most important considerations is location. This is especially true in Singapore, where the right location can make all the difference in the potential success of a property investment. Condos located in central areas or near key amenities such as schools, shopping malls, and public transportation hubs have proven to appreciate more in value over time. The prime locations of Orchard Road, Marina Bay, and the Central Business District (CBD) are excellent examples of areas where property values have consistently shown growth. Additionally, being in close proximity to highly regarded schools and educational institutions only adds to the appeal and investment potential of condos in these sought-after locations. With this in mind, investing in a well-located condo, such as those offered by Condo, can be a wise decision for anyone looking to enter the real estate market in Singapore.

Meanwhile, Tan emphasised that the diversity of the new management committee will enable the association to effectively drive initiatives that have a meaningful impact on the broader built environment ecosystem. The management committee will focus on implementing initiatives such as the ESG framework and green premiums to promote sustainable development in the real estate industry. They will also address issues such as the demand for senior accommodation in Singapore by suggesting separate land zoning to meet future demand.…

A record-breaking sale of a 3,767 sq ft unit at The Arcadia has made headlines, as the most profitable resale transaction to take place from Dec 10 to Dec 31. The owner of this four-bedroom unit on the seventh floor has welcomed the new year with a handsome profit of $3.25 million (217%), after selling the property for $4.75 million ($1,261 psf) on Dec 10. According to data from caveats, the unit was originally purchased for $1.5 million ($398 psf) in 1998. This means that the resale has generated an annualised profit of 4.5% over a span of 26 years.

In 2024, The Arcadia saw a total of five units being sold for profits ranging from $60,000 to $3.25 million. Another noteworthy sale was that of a 3,778 sq ft unit on the fourth floor, which was sold for $4.6 million ($1,218 psf) on Oct 10. This provided the seller with a profit of $60,000.

The most profitable resale transaction to date at The Arcadia was a 7,503 sq ft penthouse on the 10th floor, which was sold for $10 million ($1,333 psf) in 2010. The penthouse was purchased for a mere $5.5 million ($733 psf) in 2007, earning the seller a significant profit of $4.5 million (81%). This translates to an annualised profit of about 19% over three years.

The Arcadia is a 99-year leasehold condominium situated along Arcadia Road in prime District 11. With about 54 years remaining on its land tenure, the 164-unit development was completed in 1983. The surrounding area is known for its prestigious landed estates and Good Class Bungalows, as well as top schools such as Raffles Girls Primary School, Hwa Chong Institution, and National Junior College.

In the last three weeks of 2024, the second most profitable resale transaction took place at Tanglin Hill Meadows on Dec 10. A four-bedroom unit of 2,077 sq ft was sold for $4.5 million ($2,166 psf), after being originally purchased for $1.8 million ($866 psf) in 1999. This resulted in a profit of $2.7 million (150%) for the seller, which translates to an annualised gain of 3.6% over 26 years. This marks the most profitable transaction to date at Tanglin Hill Meadows, surpassing the previous record of $2.28 million (157%) from the sale of a 2,002 sq ft unit for $3.73 million ($1,863 psf) in 2010. This unit was purchased for $1.45 million ($724 psf) in 2005, resulting in an annualised profit of approximately 21% over a span of five years.

Tanglin Hill Meadows is a freehold condominium located along Tanglin Hill in prime District 10. Completed in 1997, the 20-unit development is nestled within the Ridley Park Good Class Bungalow Area.

When it comes to investing in a condo, one of the most important considerations is financing. Fortunately, Singapore has a variety of mortgage options available. However, it’s crucial to keep in mind the Total Debt Servicing Ratio (TDSR) framework, which sets a limit on the amount of loan a borrower can take based on their income and current debt obligations. It is essential for investors to have a clear understanding of TDSR and to seek guidance from financial advisors or mortgage brokers in order to make well-informed decisions about their financing options and avoid becoming overburdened with debt. Additionally, those looking to invest in a condo in Singapore can benefit from visiting Singapore Condo for more information on the local real estate market and financing options.

On the other hand, the trend of losses continues at Seascape, a 99-year leasehold condominium situated in Sentosa Cove, where a 2,174 sq ft unit on the seventh floor was sold at a loss of $1.97 million (33%) on Dec 18. The three-bedroom unit, which was purchased for $5.95 million ($2,736 psf) in 2011, was sold for $3.98 million ($1,830 psf). As a result, the seller incurred an annualised loss of 2.5% over a span of 13 years.

In 2024, there were three resale transactions at Seascape, all of which resulted in losses ranging from $1.75 million to $2.53 million. The unit with the largest loss was a 2,680 sq ft unit that was sold for $4.5 million ($1,679 psf) on Aug 14. Its original purchase price was $7.03 million ($2,628 psf) in 2024, resulting in a loss of $2.53 million.

Completed in 2012, the 151 units at Seascape are located along the South China Sea. The eight-storey development offers three-bedroom and four-bedroom units ranging from 2,164 to 4,069 sq ft. Penthouses range from 3,380 to 4,252 sq ft, while sky villas are between 6,631 and 9,666 sq ft.…

A newly completed Good Class Bungalow (GCB) at Victoria Park is now available for purchase with a price tag of $61 million. This exquisite bungalow boasts of seven bedrooms and was completed just three years ago. Located at the end of Victoria Close, a prestigious cul-de-sac with only 10 houses, this property stands out among the other gazetted GCB areas in Singapore. According to Jervis Ng, associate group district director at PropNex Realty, this exclusive enclave can only increase the number of houses by subdividing larger plots of more than 30,000 sq ft, in accordance with planning guidelines. Ng is also the founder of JNA Real Estate, a property team under PropNex.

Ng explains, “This means that the exclusivity and privacy enjoyed by the GCBs along Victoria Park Close will be preserved, a priority that many ultra-high-net-worth individuals and their families are willing to pay a premium to enjoy.” He adds, “In recent months, we have seen the return of new naturalised Singaporeans into the GCB market, and this has improved buying sentiment.” Ng believes that this GCB will appeal to newly minted Singaporeans who grew up in countries like China, India, or Indonesia, and are looking for a trophy home here.

The Victoria Park GCB area is home to several illustrious residents, including Jack Ma, Chinese business magnate and co-founder of Alibaba Group, and Tang Wee Kit, a scion of the Tang family known for founding Tangs department store. As for the GCB on sale, Ng says that it has been well maintained and still looks brand new. The property features a contemporary interior design with premium quality materials and finishes.

Ng adds that the property sits on a spacious 18,988 sq ft plot and the owners worked closely with the architect to efficiently utilise the land area. The GCB has a total built-up area of 25,300 sq ft, including seven en suite bedrooms, three helpers’ rooms, and a basement carpark with space for up to seven cars. The basement level also has an entertainment room that is fitted out as a home cinema. It can easily be converted into a guest room if needed. The GCB also has a private gym and a 20m lap pool.

Sitting atop a hill, most of the rooms in the bungalow overlook the scenic low-rise neighbourhood, according to Ng. The spacious living room can easily accommodate large families and is perfect for entertaining guests. Resale transactions in the Victoria Park GCB area have been few in recent years. According to caveats, the site of the GCB on sale was purchased for $18.2 million in September 2016. This price translates to a land rate of $959 psf. The most recent transaction along Victoria Park Close was for a 15,253 sq ft plot that fetched $28.33 million in May 2021, translating to a land rate of $1,857 psf. Before that, in April 2017, a 29,956 sq ft plot was sold for $40 million ($1,335 psf).

The last recorded GCB sale along Victoria Park Road was for a 32,077 sq ft site that changed hands for $48 million ($1,496 psf) in November 2011. Ng says that stabilising factors like anticipated lower interest rates, sustained demand from ultra-high-net-worth buyers, and the limited supply of GCBs are expected to drive transaction activity in the GCB market this year. He predicts that GCB transaction volume will increase by 10% to 15% from last year, assuming there are no major external economic disruptions. Last year, there were approximately 35 GCB transactions that raked in a total transaction volume of $1.32 billion, significantly higher than the previous high of $1.186 billion achieved in 2022.

Investing in condos in Singapore requires careful consideration, and one of the crucial factors to keep in mind is 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 foreign buyers and those purchasing multiple properties. While they may affect the immediate profitability of condo investments, they also contribute to the long-term stability of the market, making it a more secure investment environment. In light of these measures, new condo launches should be carefully evaluated before making any investment decisions.…

Edmund Tie & Company, a leading local real estate advisory, has announced that it will now be known as ETC with immediate effect. Along with the name change, the company has also unveiled a redesigned logo.

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When purchasing a condominium, it is crucial to take into account the maintenance and management of the property. Maintenance fees are typically included in condos, which cover the upkeep of shared spaces and amenities. Though these fees may increase the overall cost of owning a condo, they also guarantee that the property maintains its quality and value. For investors looking for a more hands-off approach, hiring a property management company, such as Singapore Projects, can assist in handling the day-to-day management of their condos, making it a less active investment.

According to Desmond Sim, the CEO of ETC, the decision to adopt ETC as the company’s official name was driven by its people. This highlights the importance ETC places on its employees’ insights, voices, and ideas.

Sim also adds that the new name is already a familiar abbreviation among their clients and staff. The rebranding exercise is a reflection of how far the company has come as one united ETC, and it showcases their determination to shape the future of real estate both locally and regionally.

The rebranding effort coincides with ETC’s 30th anniversary. The company, founded in 1995, offers a wide range of services covering every phase of a real estate asset’s lifecycle. These include advisory, investment, management, and divestment.

In related news, Marina Bay Residences recently underwent a $5 million revamp to enhance its residents’ living experience and deliver value in premium rents. Other recent real estate transactions include the sale of three food-factory units at Pandan Loop for $11 million, Noel Building on Tai Seng for $81.18 million, and industrial GS Building in Balestier for $67 million.…