Month: January 2025

City Developments Limited (CDL), Frasers Property and Sekisui House will be giving a sneak-peek of their latest project, The Orie, on Friday, Jan 3, with the official launch taking place on Jan 18. The 777-unit private condominium is situated at the intersection of Lorong 1 Toa Payoh and Lorong 4 Toa Payoh. The two tall 40-storey towers houses various one-bedroom plus study units starting from 517 square feet to five-bedroom apartments of 1,453 square feet. Unit prices are as follows: S$1.28 million (S$2,476 per square foot) for a 517 square feet one-bedroom plus study, S$1.48 million (S$2,500 per square foot) for a 592 square feet two-bedroom, S$2.09 million (S$2,459 per square foot) for an 850 square feet three-bedroom, S$2.92 million (S$2,401 per square foot) for a 1,216 square feet four-bedroom and S$3.48 million (S$2,395 per square foot) for a 1,453 square feet five-bedroom with an exclusive private lift. Interested buyers can search for the latest available units and transaction prices by visiting New Launches. This marks the first new launch of a private condominium since 2016, when Gem Residences, with 578 units, was launched and subsequently completed in 2020. The three major property developers who have come together for this project submitted the highest bid for a Government Land Sales (GLS) site at Lorong 1 Toa Payoh. The joint bid amounted to $968 million, which means the land rate stands at $1,360 per square foot per plot ratio (ppr) for the site. The venture is evenly divided between City Developments Limited, Frasers Property and Sekisui House. “We are excited to launch our first private residential project in the Toa Payoh area in over eight years, and we are delighted to welcome the new year with The Orie,” said Sherman Kwek, group CEO of CDL. He added, “Situated in the bustling and highly sought-after Toa Payoh district, residents will enjoy a central location and excellent connectivity.” For commuters, The Orie is located a five-minute stroll from the Braddell MRT Station situated along the North-South Line (NSL). It is also located close to the Toa Payoh Integrated Transport Hub that links the Toa Payoh Bus Interchange to the Toa Payoh MRT station. The integrated development, spanning over an area of 12 hectares, is estimated to be completed by 2030. It is set to house an interesting array of facilities, including an indoor sports hall, various sports amenities and large swimming pools, a football stadium, a public library and a polyclinic amongst other things. The Orie is located within close proximity to several amenities in the neighbourhood, such as the Toa Payoh Town Centre, the HDB Hub, SAFRA Toa Payoh, Junction 8 shopping mall and the MacRitchie Reservoir. Families with young children can choose from a range of primary schools including Pei Chun Public School, CHIJ (Toa Payoh) Primary and Secondary Schools and First Toa Payoh Primary School. Medical facilities in the area include Tan Tock Seng Hospital, Toa Payoh Polyclinic, Mount Elizabeth Novena Hospital, Mount Alvernia Hospital and the Thomson Medical Centre. The Orie is situated in District 12 in the Rest of Central Region (RCR), providing easy access to Orchard Road shopping belt and the Central Business District, Su Lin Soon, CEO of Frasers Property Singapore. The energy-efficient property boasts more than 40 condominium facilities, well-structured layouts, quality fittings by Hansgrohe, bathroom wares by Duravit, and premium home appliances by De Dietrich and Samsung. Takehisa Yanagi, managing officer and head of international development department for Sekisui House, described The Orie as the first of a new partnership with CDL. However, he mentioned that Sekisui House and Frasers Property had worked on projects together in Singapore for 13 years. The latest transactions at Gem Residences include the 578-unit property situated at Lorong 5 Toa Payoh, which was launched in 2016 and completed in the year 2020. You can check out the latest listings for The Orie by visiting Ask Buddy. Moreover, you can also compare the price trend of resale condos against new sale condos, by checking out the latest listings for recently launched projects, projects that have obtained TOP recently and Condo listings in District 12.

Singapore has emerged as a top destination for investors looking to purchase a condo, whether they are local or from overseas. With its strong economy, stable political climate, and exceptional quality of life, the city-state presents a promising real estate market with a variety of lucrative opportunities. Among these, condos have gained immense popularity for their convenience, modern amenities, and potential for high returns. In this article, we will delve into the advantages, factors to consider, and necessary steps to take when investing in a condo in Singapore, including exploring current Singapore projects.…

When it comes to investing in condos in Singapore, another important factor to consider is the government’s property cooling measures. In an effort to promote 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 these measures may affect the short-term profitability of condo investments, they ultimately contribute to the long-term stability of the market, making it a secure investment environment. In addition, keeping an eye on Singapore Projects can also help in making an informed decision about condo investments in the country.

Starting from January 1, ERA Singapore has announced that it will no longer cover the annual Council for Estate Agencies (CEA) license renewal fees for its real estate agents, a practice that has been in place for the past seven years. This decision comes as the company looks to focus its resources on initiatives that will benefit its agents and clients.

The gesture of covering license renewal fees was a longstanding goodwill practice by ERA, even during the COVID-19 pandemic. However, the company believes that reallocating these resources towards initiatives such as technology, training, and marketing will enhance the growth and success of its market-leading salesforce.

While ERA will no longer cover the renewal fees for its agents, it will continue to support new agents by covering their renewal fees for the first two years. This is a common industry practice that helps newcomers establish themselves in the market. This decision also addresses the issue of inactive agents switching between agencies solely for the sake of taking advantage of the fee coverage.

As a result of this decision, there has been a slight reduction of around 300 agents, mostly inactive or part-time salespersons with no transactions in the past year. However, ERA has also attracted around 230 new professional agents who joined the agency on January 1, showcasing its continued appeal to active and aspiring real estate agents.

According to ERA Singapore’s CEO, Marcus Chu, the CEA is currently reviewing the need to implement a minimum transaction requirement for real estate salespersons, highlighting the importance of active participation and continuous professional development in the industry. He adds that by reallocating resources towards technology, training, and marketing, ERA reaffirms its commitment to empowering its core team of dedicated salespersons to achieve excellence and provide exceptional value to clients.…

On January 1, real estate agency SRI announced that they had acquired 111 agents from Knight Frank Singapore’s agency business, KF Property Network (KFPN). This includes the head of KFPN, Evan Chung.

The addition of these 111 agents, who accounted for 40.5% of KFPN’s sales force of 274 agents as of January 1, 2024, has increased SRI’s agency sales force to 1,501 at the start of 2025. SRI is now the fifth-largest property agency in Singapore with 1,286 agents at the beginning of 2024.

The limited availability of land is one of the main factors driving the demand for condos in Singapore. As a small island nation with a rapidly growing population, Singapore faces a shortage of land for development. To address this challenge, the government has implemented strict land use policies, resulting in a competitive real estate market where property prices are continuously on the rise. As a result, investing in real estate, especially in condos, has become a highly profitable opportunity with the potential for long-term capital appreciation. For more information on Singapore’s current projects and developments, visit Singapore Projects.

SRI was co-founded by managing partners Bruce Lye and Benson Koh in 2016 and is a spin-off from SRI5000, a division of SLP Realty. Starting with 120 agents, SRI quickly outgrew its premises and relocated to a larger office space in 2021. Today, SRI has reached a significant milestone, reaching nearly 1,500 agents and aiming to expand to 2,000 by the end of 2025.

Despite its growth, SRI remains a boutique agency with a strong focus on the luxury residential market. CEO Thomas Tan aims to transform SRI into a thought leader in the industry, known for its high standards, niche expertise, and client-centric approach.

Former KFPN head Evan Chung has joined SRI as a leader and highlights that his decision to move was due to SRI’s dedication to equipping its agents with effective tools, comprehensive support, and expert coaching. He believes that SRI’s open and collaborative culture will be a great platform for growth and superior service to clients across various market segments.

Following the departure of Chung and other agents, KFPN’s sales force has decreased to 145 agents, and its ranking has dropped from sixth to eighth largest agency. However, Knight Frank Singapore’s CEO, Galven Tan, assures that it is business as usual at KFPN and that a new head will be appointed to lead the team and drive growth and success.

Overall, SRI’s expanded sales force is expected to strengthen the firm’s existing business lines, which include residential, capital markets, industrial, auctions, and international projects. With a focus on the luxury residential market, SRI aims to become a prominent player in the industry and provide exceptional service to its clients.…