Month: February 2025

When making the decision to invest in a condominium, it is crucial to take into account the maintenance and management aspect of the property. Condos generally involve a maintenance fee, which covers the maintenance of shared spaces and amenities. While this fee may add to the total cost of owning a condo, it also guarantees that the property will be well-maintained and maintain its value. Opting for the services of a property management company can assist investors in managing their condos on a day-to-day basis, turning it into a more hands-off investment. In Singapore, for example, there are various reputable projects such as Singapore Projects that offer excellent property management services for condo owners.

The most profitable resale transaction at Marina Bay Suites was in June 2013, when a 2,002 sq ft unit on the 42nd floor was sold for $6.9 million ($3,447 psf). That unit had been bought for $4.18 million ($2,090 psf) back in July 2007.The most profitable resale transaction of a three-bedroom unit at Palm Spring made headlines as it raked in a record profit of $3.19 million. Located in prime District 10, Palm Spring is a freehold condominium that has consistently seen increases in resale prices over the past 20 years. The latest record stands at $2,336 psf for a unit on the fourth floor, which was sold for $4.4 million on Jan 20.Meanwhile, the second most profitable resale transaction during the Jan 14 to 28 period was a four-bedroom unit at Orchard Bel Air. The 3,229 sq ft unit on the 12th floor sold for $4.65 million ($1,440 psf) on Jan 15, earning the seller a profit of $3 million. Orchard Bel Air, a 99-year leasehold condo, has seen an average selling price of about $3,043 psf, with its record transaction being the sale of a 6,512 sq ft penthouse for $8.3 million in 2013.Located in the prestigious District 10, Marina Bay Suites has seen a string of unprofitable transactions recently. The most unprofitable transaction over the Jan 14 to 28 period was a 1,625 sq ft unit on the 58th floor that sold for $3.1 million, incurring a loss of $1.15 million (27%). The development, which is part of the iconic Marina Bay Financial Centre, has registered 14 consecutive loss-making deals in the past nine months, with prices falling from $2,502 psf in January 2015 to $1,921 psf in January this year. Nearby 99-year leasehold condos have recorded higher resale prices, with The Sail @ Marina Bay, Marina Bay Residences, Marina One, and V on Shenton all commanding prices above $2,000 psf. Despite this, the most profitable resale transaction at Marina Bay Suites remains the sale of a 2,002 sq ft unit in June 2013 for $6.9 million. Overall, it is evident that prime District 10 remains a highly sought-after location for property investment, with consistent increases in resale prices over the past two decades.…

Watertown, Waterfront Gold and The Tampines Trilliant condominiums up for en bloc saleEunosville makes bid for third collective sale in a weekTRENDING ARTICLESSingapore’s most expensive HDB flat: A $1.2 million 5-room BTO unit?Twin VEW: New benchmark price for West Coast by Twin Vew, Parc Riviera and Hundred TreesSunningdale Park for sale again, after 66% of owners raise price by half a millionTop 10 most searched residential projects on EdgeProp.sg for 4Q2020RESEARCH PROPERTIESThe only property portal that features the latest market research and trends. Discover nowMOST ACTIVE PROJECTSHighest Transactions in Last 3 Months: 4BEDamePlace 8, Midview City, Rafflesia Condo, Eastpoint GreenNOTE: This is a premium article that requires a paid subscription to read. Please login or subscribe to read the full article.

A three-bedroom unit in the Watertown integrated development in Punggol will go under the hammer at SRI’s upcoming auction on Feb 26.

The 1,281 sq ft mortgagee sale unit has a guide price of $2.4 million, which translates to approximately $1,874 psf. The same unit was previously listed at SRI’s January auction with the same guide price but only received one bid. It was withdrawn as the bid did not meet the reserve price.

Located on the 13th floor, the unit features a combined living and dining area, an open-concept kitchen, a utility room and toilet, and a south-facing balcony that overlooks one of the condo’s 20 swimming pools. There is also an ensuite master bedroom, two additional bedrooms, and a common bathroom.

Based on URA caveats, the unit was purchased from the developers for approximately $1.8 million ($1,281 psf) in October 2013.

As of Feb 4, Watertown has seen one unit sold this year – a two-bedroom unit of 958 sq ft that fetched $1.7 million ($1,775 psf) on Jan 19. Last year, the condo recorded 41 resale transactions at an average price of $1,700 psf.

Larger units in the development are in demand and can fetch higher psf-prices, according to Eric Liew, manager of auctions and sales at SRI.

Out of the 41 resale transactions at Watertown last year, 10 involved larger units with three or more bedrooms. They were sold at an average price of $1,854 psf, or about 9% higher than the condo’s overall average transacted price for the year.

Liew notes that interest usually comes from HDB upgraders looking for a bargain and those planning to use the unit as their primary residence due to its proximity to Punggol MRT Station.

Watertown is a 992-unit condo with 11 residential towers atop the six-storey Waterway Point shopping mall. Its units range from 533 to 1,003 sq ft for one- to two-bedroom units and 821 to 1,582 sq ft for three- and four-bedroom units.

Waterway Point is integrated with Punggol MRT Station, which sits on the North East Line, and is also connected to Punggol LRT Station. Completed in 2017, Waterway Point was jointly developed by Far East Organisation, Frasers Centrepoint, and Sekisui House.

Several primary schools can be found in the area, including Edgefield Primary School, Oasis Primary School, Punggol Green Primary School, Compassvale Primary School, and Punggol Cove Primary School.

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Investing in real estate requires careful consideration of location, and this holds particularly true in Singapore. Condos located in central areas or in close proximity to important amenities, such as schools, shopping centers, and public transportation hubs, have a higher potential for appreciation. This is evident in prime locations like Orchard Road, Marina Bay, and the Central Business District (CBD), where property values have consistently shown growth over the years. Families also find these areas desirable due to their proximity to reputable schools and educational institutions, making condos in these locations a highly sought-after investment option. To explore more available investment opportunities in Singapore, check out Singapore Projects.

Compare price trend of New sale condo vs Resale condo…

The government has officially announced the extension of the Central Business District Incentive (CBDI) and Strategic Development Incentive (SDI) schemes for another five years. These schemes were initially introduced by the government in November 2019 and have now been extended by Desmond Lee, the Minister of National Development (MND), at the Real Estate Developers’ Association of Singapore (Redas) annual Spring Festival lunch on Feb 7.

The CBDI scheme aims to encourage the conversion of older office buildings in specific areas of the Central Business District (CBD) into mixed-use developments. These areas include Tanjong Pagar, Robinson Road, and Shenton Way. The scheme intends to increase the number of homes in the CBD, enhance the live-in population, and introduce a greater diversity of uses in the traditionally business-focused district.

On the other hand, the SDI scheme was introduced to promote the redevelopment of older developments in strategic areas to enhance transformative changes in the surrounding urban environment. These strategic areas include Orchard Road, the Central Business District, and Marina Centre.

When it comes to investing in real estate, location is a key factor to consider. This is especially true for properties in Singapore. Condos that are located in central areas or near important amenities, such as schools, shopping malls, and public transportation hubs, have a higher potential for appreciation in value. Prime locations like Orchard Road, Marina Bay, and the Central Business District (CBD) have consistently shown growth in property values. Additionally, condos in these areas are highly sought after by families due to their proximity to good schools and educational institutions, making them even more desirable for potential investors. For those interested in investing in the booming real estate market of Singapore, keep an eye on new condo launches for even more promising investment opportunities.

According to the Urban Redevelopment Authority (URA), out of the 17 CBDI proposals and 12 SDI proposals submitted to the government, 14 CBDI proposals and seven SDI proposals have been granted in-principle approval.

Four CBDI projects in the Anson-Tanjong Pagar area are currently under construction. These include Newport Plaza, a mixed-use development located at 80 Anson Road, which consists of 246 residential units and 198 serviced apartment units. Another project, The Skywaters Residences, comprises 190 luxury residential units as part of a larger mixed-use development located at 8 Shenton Way. Other CBD projects include two commercial developments at 15 Hoe Chiang Road and 51 Anson Road.

In addition, Minister Lee has announced that the five-year extension of the CBDI and SDI schemes will come with refinements for both schemes. The CBDI scheme will now be extended to include commercial developments in Anson and Cecil, and developers and property owners will have the option to retain their commercial zoning (with 40% non-commercial use) if the redevelopment includes long-stay serviced apartment units.

According to URA, CBDI applicants who wish to redevelop in Anson and Cecil must provide at least 200 residential units or set aside their entire non-commercial floor area for long-stay serviced apartments, whichever is lower. Previously, office buildings redeveloped under the CBDI were allowed to retain their existing commercial zoning if 40% of the new floor area was dedicated to non-commercial use.

Marcus Chu, CEO of ERA Singapore, has noted that “By enabling the continual renewal of the many aging buildings in the city centre, and with the injection of more residential units, these incentives aim to make the CBD a place to work, live, and play.”

Additionally, the revamped CBDI and SDI schemes will include new sustainability requirements. All new CBDI and SDI applications moving forward will be required to include a sustainability statement assessing the feasibility of retrofitting part or all of the existing building.

Minister Lee has mentioned that while the government supports revitalization and rejuvenation through redevelopment, they do not want to see wasteful demolition and excessive rebuilding, especially if the buildings are relatively young or still in good condition. He also adds that several projects currently being redeveloped under the CBDI or SDI schemes are going beyond the mandated sustainability requirements, such as Union Square, a mixed-use development located at Havelock Road, which will include a district cooling system.

In conclusion, the government’s decision to extend the CBDI and SDI schemes for another five years aims to promote the continual renewal of aging buildings and create a more vibrant and sustainable CBD. Interested parties can check out the latest listings and available units for the Skywaters Residences and other upcoming new launch projects, as well as the recent sale transactions for condos in District 1.…

Perennial Holdings and Far East Organization have announced the plans for Aurea, a luxurious apartment tower part of the Golden Mile Singapore mixed-use development on Beach Road. Designed by DP Architects, the 45-storey tower spans a site area of 144,908 sq ft and consists of 188 units.

Connected to the neighboring The Golden Mile, which has been conserved for its architectural heritage, through a link bridge, Aurea is located in the prime District 7 of the Downtown Core and the Core Central Region (CCR). According to Shaw Lay See, the chief operating officer at Far East Organization’s sales & leasing group, the exclusive address is expected to attract discerning individuals and families.

Aurea’s preview will begin on Feb 22 and the official launch is scheduled for Mar 8. The prices start at $2,750 psf, with two-bedroom apartments of 646 sq ft priced from $1.92 million ($2,972 psf). The development offers a variety of unit types ranging from two- and three-bedroom apartments (112 units) with sizes from 635 sq ft to 1,001 sq ft, to four-bedroom apartments (56 units) from 1,442 sq ft to 1,798 sq ft, and five-bedroom units (18 units) from 2,863 sq ft to 3,251 sq ft. There are also two exclusive penthouses, a six-bedroom duplex spanning 5,608 sq ft and a six-bedroom triplex measuring 8,816 sq ft.

The larger four-bedroom units and penthouses, which come with private lift access and a private pool in the case of the triplex penthouse, cater to the affluent lifestyles of CCR homebuyers, says Marcus Chu, CEO of ERA Singapore. On the other hand, the two- and three-bedroom units, comprising 60% of the units at Aurea, are expected to attract both homebuyers and investors, as per Chu.

Aurea offers residents a wide range of facilities including two infinity pools, a gymnasium, a bouldering wall, spa facilities, indoor lounge, and multiple dining pavilions. The sky terraces on levels 17 and 33 provide stunning views of the CBD skyline, Marina Bay, and the Kallang waterfront.

When contemplating a condominium investment, one must not forget to evaluate its potential rental yield. This refers to the annual rental income expressed as a percentage of the property’s purchase price. In Singapore, the rental yields for condos can significantly fluctuate based on several factors such as location, property condition, and market demand. It’s been observed that areas with a higher demand for rentals, like those situated near business hubs or academic institutions, typically offer more lucrative rental yields. Therefore, conducting extensive market research and seeking guidance from real estate agents can provide valuable insights into the rental potential of a specific condo. For more information on upcoming Singapore Projects, you can refer to reliable sources.

Ken Low, managing partner at SRI, says that homebuyers today look for more than just a great location and Aurea delivers all the essential elements that enhance their daily lives.

Apart from the residential tower, Golden Mile Singapore also offers 156 strata office units and 19 medical suites launched for sale in December 2024. The joint venture partners, Perennial and Far East, plan to retain ownership of the revamped two-storey retail atrium to curate the tenant mix. According to PropNex CEO Ismail Gafoor, the commercial space, especially office space, has the potential to attract buyers, given the iconic status of the former Golden Mile Complex.

Gafoor adds that buyers prioritize quality projects near an MRT station and convenient access to essential amenities. Golden Mile Singapore’s location, near an MRT station and major roadways such as Nicoll Highway, East Coast Parkway (ECP), and Kallang-Paya Lebar Expressway (KPE), and just 1km away from the Kallang Alive Precinct, the Bras Basah-Bugis district, and a 10-min drive from the CBD, makes it an attractive option for homebuyers.

The last two launches in the Beach Road neighborhood of District 7 were Midtown Modern and The M. All units at Midtown Modern, sold at an average price of $2,825 psf, have been sold, and the project is expected to obtain TOP sometime this year. The M, comprising 522 units, also sold out completely at an average price of $2,528 psf and was completed in March 2024. The recently completed Midtown Bay, with 63% of its 219 units sold at an average price of $3,090 psf, since its launch in 2019, is another neighboring project.

Considering Aurea’s location and upscale residences, along with the architectural heritage of Golden Mile Complex, PropNex’s CEO Gafoor estimates that the apartment units could command a price of over $3,000 psf. “With past launches in the district having mostly sold out, we believe there is pent-up demand for new homes in the area, and Aurea is likely to attract healthy interest among prospective homebuyers and investors,” adds Gafoor.

Aurea is expected to be completed in 2Q2029.…

When it comes to investing in real estate, location is a crucial factor to consider, and this is particularly true in Singapore. In this city-state, condos located in central areas or in close proximity to essential amenities such as schools, shopping malls, and public transportation hubs tend to have a higher appreciation in value. Prime locations like Orchard Road, Marina Bay, and the Central Business District (CBD) have consistently shown growth in property values over the years. Families also prefer condos in these areas due to their proximity to good schools and educational institutions, making them even more desirable and further increasing their investment potential. For more information on new condo launches, please visit Ananar.com.

On February 6, Perennial Holdings and Far East Organization announced the launch of Aurea, a luxurious apartment tower that is part of the Golden Mile Singapore mixed-use development located along Beach Road. The 188-unit apartment tower, designed by DP Architects, will span 45 storeys and cover a site area of 144,908 sq ft.

The Golden Mile Singapore is connected to the neighbouring The Golden Mile, a commercial building that includes retail space, medical suites, and offices. The Golden Mile, also known as the former Golden Mile Complex, has been preserved for its architectural heritage and was the first collective sale and conservation of a building. Perennial Holdings and Far East Organization purchased the building en bloc for $700 million in May 2022.

Aurea’s exclusive, invitation-only preview is set to begin on February 22, with the official launch on March 8. The apartments will be priced from $2,750 psf, with two-bedroom units starting at $1.92 million ($2,972 psf).

The residences at Aurea will consist of a variety of unit types, including two- and three-bedroom apartments ranging from 635 sq ft to 1,001 sq ft, four-bedroom units from 1,442 sq ft to 1,798 sq ft, and five-bedroom units from 2,863 sq ft to 3,251 sq ft. Two exclusive penthouses will also be available, including a six-bedroom duplex spanning 5,608 sq ft and a six-bedroom triplex measuring 8,816 sq ft. Larger units and penthouses will have private lift access, and the triplex penthouse will also feature a private pool.

According to Marcus Chu, CEO of ERA Singapore, these larger units and penthouses will cater to the affluent lifestyles of homebuyers in the Core Central Region (CCR). Meanwhile, the two- and three-bedroom units make up 60% of the apartments and are expected to appeal to a wide range of homebuyers and investors.

Aurea’s residents can enjoy various facilities, including two infinity pools, a gymnasium, spa facilities, an indoor lounge, and multiple dining pavilions. Sky terraces on levels 17 and 33 will offer stunning views of the CBD skyline, Marina Bay, and the Kallang waterfront.

Ken Low, managing partner at SRI, says that today’s homebuyers are looking for more than just a great location, and Aurea delivers on all fronts. He adds that the project has been thoughtfully designed and provides facilities that inspire. The 156 strata office units and 19 medical suites at The Golden Mile were launched for sale in December 2024, and the joint venture partners Perennial and Far East plan to retain ownership of the revamped two-storey retail atrium to curate the tenant mix.

According to Ismail Gafoor, CEO of PropNex, Aurea’s prime location, upscale residences, and Singapore’s architectural heritage could see prices exceed $3,000 psf. As most units at previous launches in the district have been sold, he believes that Aurea may attract healthy interest among prospective homebuyers and investors.

Located in prime District 7 of the Downtown Core and the Core Central Region (CCR), Aurea offers easy access to major roadways such as Nicoll Highway, East Coast Parkway (ECP), and Kallang-Paya Lebar Expressway (KPE). It is also just 1km from Kallang Alive Precinct, the Bras Basah-Bugis district, and a 10-minute drive from the CBD.

The last launch in the Beach Road neighbourhood was the 558-unit Midtown Modern in 2021, which is now fully sold at an average price of about $2,825 psf. The neighbouring 522-unit The M was completed in 2020 and is also fully sold at an average price of $2,528 psf. Midtown Bay, located at Guoco Midtown, was completed in 2024 and has seen about 63% of its 219 units taken up at an average price of $3,090 psf since its launch in 2019.

Aurea is expected to be completed in the second quarter of 2029.…

Elta, a 501-unit residential development, is set to be revealed by MCL Land and CSC Land Group in Clementi. The property, which sits on a 99-year leasehold land site of approximately 144,788 sq ft, will be available for preview starting Feb 7, with public sales launching on Feb 22.

Assessing the potential rental yield is a crucial step in considering an investment in a condominium. This figure represents the annual rental income as a percentage of the property’s purchase price, and can greatly impact the profitability of the investment. In Singapore, rental yields for condos can vary significantly depending on various factors like location, property condition, and market demand. For instance, condos situated near bustling business districts or reputable educational institutions tend to offer higher rental yields. To gain a thorough understanding of a condo’s rental potential, it is essential to conduct thorough market research and seek guidance from experienced real estate agents. Additionally, exploring the latest New Condo Launches can also provide access to promising opportunities for rental yield. It is always wise to consider all possibilities, such as New Condo Launches from Ananar, when evaluating the rental yield potential of a condo investment.

Comprising of two 39-storey residential buildings, Elta offers a range of units from one-bedroom-plus-study to five-bedroom units, with sizes ranging from 506 sq ft to 1,776 sq ft. The joint developers have stated that the project will be built according to URA’s harmonisation guidelines.

Interested buyers can now get the latest information on available units and prices for Elta. The indicative pricing for the units starts from $1.158 million ($2,289 psf) for one-bedroom-plus-study units, $1.388 million ($2,261 psf) for two-bedroom units, and $2.198 million ($2,374 psf) for three-bedroom units. The indicative pricing for four and five-bedroom units will start from $2.798 million ($2,363 psf) and $3.888 million ($2,189 psf), respectively.

The showflat at Prince Charles Crescent provides a glimpse into three layouts at the development: a two-bedroom-plus-study unit that can be transformed into a compact three-bedroom, a four-bedroom dual-key unit, and a five-bedroom unit designed for multi-generational living. Elta is conveniently located within walking distance of Clementi MRT Station and is close to various dining and shopping options such as The Clementi Mall, 321 Clementi, and Grantral Mall.

For families with school-going children, there are reputable schools in the vicinity, including Clementi Primary School, Pei Tong Primary School, Nan Hua Primary and High School, Anglo-Chinese School (Independent), and NUS High School of Math and Science.

According to MCL Land CEO Lee Tong Voon, Elta is designed to provide residents with elevated living, with its high-rise towers oriented to offer the best views of the city, Pandan Reservoir, and the sea. Qian Liang Zhong, chairman of China Construction (South Pacific) Development Co (CCDC), adds that Clementi is a popular and vibrant town that seamlessly blends traditional shops with trendy amenities, adding convenience to the community. CCDC is the parent company of CSC Land Group.

The new residential development boasts 50 facilities spread across five zones, including a 50-metre lap pool, gymnasium, tennis court, and gardening corner. Elta is expected to receive its temporary occupation permit in 2028. For more information, check out the latest listings for Elta and other Condominium properties. Interested buyers can also use Buddy, a platform that compares the price trend of condo new sale versus EC new sale, projects with the most expensive average PSF, and condo transactions with the highest profits in the past year. Additionally, Buddy also provides comparisons for price trends of HDB versus Condo versus Landed, and rental listings in District 5.…

SINGAPORE: A highly advanced warehouse and factory, situated in the industrial area of Gul Circle, has been put up for sale. According to the exclusive marketing agent Knight Frank Singapore, the property is being sold through an expression of interest with a guide price of $42 million.

When it comes to investing in Singapore, foreign investors must familiarize themselves with the regulations and limitations surrounding property ownership. While purchasing condos is comparatively unrestricted for foreigners, ownership of landed properties is subject to stricter rules. One important consideration for foreign buyers is the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for their initial property purchase. Despite the added expenses, the Singapore real estate market remains attractive to foreign investors, as evidenced by the steady stability and growth potential. To explore investment opportunities, check out Singapore Condos.

The property, which is leased by JTC, features a five-storey factory and warehouse with an additional mezzanine floor, bringing the total gross floor area to approximately 245,955 sq ft. The site spans 105,648 sq ft and has a remaining lease of 15 years and 11 months as at February 1, and is zoned as a Business 2 site in the URA Master Plan 2019.

The design of the warehouse cum factory is tailored to meet the demands of modern industrial businesses, with features such as high ceilings for storage and operations, cold rooms, and heavy floor loading capabilities to cater to a diverse range of industries. The property also boasts nine 40-footer loading and unloading bays with dock levelers, as well as four cargo and service elevators.

Conveniently located near major expressways AYE and PIE, as well as Joo Koon MRT station, the property offers easy accessibility. Interested buyers can submit their offers through the expression of interest exercise, which will close on March 18 at 3pm.…

When it comes to investing in real estate, location is a vital consideration, and this is particularly evident in Singapore. In this country, condos that are situated in central areas or close to important amenities such as schools, shopping centers, and public transportation hubs tend to have a higher appreciation in value. Some prime locations in Singapore, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown growth in property values over the years. This makes them desirable areas for purchasing a Singapore Condo as an investment. Additionally, the presence of reputable schools and educational institutions in these areas adds to the appeal for families, further increasing the potential for a profitable investment.

By Colliers International

Colliers released research in February 2025 predicting a decrease in industrial property prices and rents in Singapore due to an increase in supply and a decrease in demand. The real estate firm expects annual rental and price growth to be between 0% to 2% in 2025, compared to last year’s growth of 3.5%. According to Colliers, the decline in outlook can be attributed to the recent data released by JTC, which showed a “loss of momentum” in the market. Colliers noted that the rental index for all industrial properties increased for the 17th consecutive quarter in the fourth quarter of 2024, rising by 0.5%. However, this growth was significantly lower than the 8.9% rental growth recorded in 2023. The price index also saw an increase of 0.5% in the fourth quarter of 2024, which was a decrease from the 1.2% growth in the previous quarter. Overall, industrial property prices only saw a modest increase of 2.1% in 2024, which was less than half of the 5.1% increase in 2023.Read also: Industrial property market ends 2024 with modest gains in rents and pricesAdvertisementAdvertisementColliers also mentioned that there will be a significant increase in the supply of industrial space this year, with over 2.5 times the supply seen in 2024. However, this surge in supply has led to an imbalance in the market, with some segments experiencing slower precommitments or lower occupancy rates in completed projects. The combination of higher supply and cautious occupiers, due to high interest rates and operating expenses, is expected to continue to dampen rental growth. Additionally, the ongoing trade protectionism has brought uncertainty into global markets, which could affect business confidence and investment decisions.On the other hand, there are still some positive factors that could support industrial demand, such as the growth of the semiconductor, logistics, and advanced manufacturing sectors. Colliers also expects leasing activities to gradually increase as policies become clearer and market sentiments improve, thanks to the ongoing upturn in the chip cycle. However, with the projected decrease in rents, Colliers believes that 2025 could be a good year for tenants, as they will have more options in the market. The firm also predicts that newer industrial developments with modern specifications could attract businesses to relocate from older manufacturing spaces. Nicolas Menville, executive director and head of Singapore-based industrial clients for Colliers, stated that this is a good opportunity for tenants to take advantage of the increase in supply and newer options in the market.Check out the latest listings for Industrial Real Estate propertiesAsk BuddyPast Industrial rental transactionsListings for industrial propertyPast Industrial sale transactionsPrice trend for industrial property salesCompare price trend of Commercial vs Industrial propertiesPast Industrial rental transactionsListings for industrial propertyPast Industrial sale transactionsPrice trend for industrial property salesCompare price trend of Commercial vs Industrial propertiesRELATED NEWSIndustrial rents, prices rose for 13th straight quarter in 4Q2023 Industrial property at Genting Road sold for $12 milFreehold industrial unit in Bishan for sale at $15.4 milBy Colliers International…

Investing in a condo in Singapore presents a multitude of advantages, with one of the most noteworthy being its potential for capital appreciation. As a leading global business hub, Singapore boasts a strong and stable economy, creating a high demand for real estate. This has resulted in a consistent uptrend in property prices, particularly in prime locations where condos have experienced considerable appreciation. Savvy investors who enter the market at the opportune time and hold onto their properties for the long haul can reap substantial profits from capital gains.

Tan Boon Liat Building, a commercial property situated at 315 Outram Road, is currently undergoing collective sale through a public tender with a minimum price of $1.15 billion. The freehold premises occupies two separate land plots designated for “Business 1” use and has a combined site area of approximately 175,655 square feet. It is strategically located next to the Havelock MRT Station on the upcoming Thomson-East Coast Line (TEL) and is currently home to numerous furniture and home decor stores.

According to Cushman & Wakefield, the appointed advisor and marketing agent for the property, the Urban Redevelopment Authority (URA) has issued an Outline Planning Advice on January 22 recommending the rezoning of the site to “Residential with Commercial at 1st storey” with a plot ratio of 4.9, an increase from the current 3.1. This would result in a 50% rise in the total allowable gross floor area (GFA), as stated by Cushman & Wakefield.

In addition, URA has advised the amalgamation of several remnant state land plots into the main plot. The estimated land area of these state land plots is about 20,451 square feet, subject to final survey and approval from relevant authorities. Taking these into account, Cushman & Wakefield projects that the total GFA potential of the site, including the state land plots and any bonus GFA entitlement, would be over 1.06 million square feet. The first storey can also accommodate a commercial GFA of up to 16,146 square feet.

As part of the residential allocation, a minimum GFA of about 161,459 square feet will be designated for Serviced Apartments II (SA2) with a minimum three-month stay requirement. The permitted height for the new development ranges from 130 meters to 180 meters.

Based on the reserve price, which includes land betterment charges on rezoning, the estimated premium for the remnant state land and the 10% bonus GFA applicable to the residential part, the projected land rate amounts to $1,888 per square foot per plot ratio.

Recent industrial sales transactions at Tan Boon Liat Building (Source: EdgeProp Buddy)

According to Christina Sim, senior director of capital markets at Cushman & Wakefield, the site will be attractive to developers due to its freehold tenure and its location on the TEL, which is expected to be a draw for homebuyers. She adds, “The biggest game-changer, however, is the fact that no Additional Buyer’s Stamp Duty (ABSD) is payable on this potential purchase as the original site is zoned ‘Business 1’.”

The tender for the site will close on March 18 at 3 pm.…

The biggest penthouse at Park Nova has just been sold, creating a new record price for the development. The five-bedroom unit, located on the 20th floor and boasting 5,899 square feet of space, was sold by the developer for a whopping $38.888 million. This translates to a per square foot price of $6,593, according to a recent caveat on the URA Realis database, dated Jan 21.

This sale marks the highest recorded price for a unit at Park Nova, both in terms of absolute price and per square foot. The previous records for both categories were held by a 4,499 square foot penthouse that sold in May 2021 for $26.026 million, or $5,784 per square foot.

Investing in a condo in Singapore is a wise decision that offers a plethora of benefits. The country’s real estate market is highly sought after, and investing in a condo can bring in high demand, potential for capital appreciation, and attractive rental yields. However, before making a purchase, it is crucial to carefully consider various factors, such as location, financing options, government regulations, and market conditions. To ensure a successful investment, conducting thorough research and seeking professional advice is highly recommended. With New Condo Launches in the mix, investors can stay updated on the latest developments and make informed decisions to maximize their returns in Singapore’s dynamic real estate market. Whether you are a local investor looking to diversify your portfolio or a foreign buyer seeking a stable and profitable investment, Singapore’s condos are a compelling opportunity that should not be missed.

In addition, this transaction also sets a new record for the second-highest per square foot price ever registered for a condo unit in Singapore. The current record holder is a unit at The Marq on Paterson Hill, which sold for $20.54 million, or $6,650 per square foot, back in 2011. These impressive numbers are proof of the continued demand for luxury properties in the city-state.

According to industry sources, the Park Nova penthouse sold on Jan 21 is rumored to be part of a collection of properties linked to a $3 billion money laundering case that was recently put up for sale. The same penthouse was previously reported to have sold in 2021 for $34.438 million, or $5,838 per square foot.

This particular penthouse is not the only property the developer has managed to sell in recent weeks. According to caveats, three other units at Park Nova were sold within a month. These include a four-bedroom apartment on the 19th floor, which measures 2,906 square feet and was sold for $16.59 million ($5,708 per square foot) on Jan 17. Another four-bedroom unit, measuring 2,896 square feet and located on the 18th floor, sold for $15.99 million ($5,522 per square foot) on Dec 27, 2021.

Park Nova is a freehold luxury condo situated in prime District 10, at the junction of Orchard Boulevard and Tomlinson Road. Developed by Hong Kong’s Shun Tak Holdings, the project received its temporary occupation permit just last November. With a total of 54 units, Park Nova offers homeowners the ultimate luxury living experience. Interested buyers can visit EdgeProp Buddy for the latest listings and prices for Park Nova properties.

For those looking to purchase a luxury condo in District 10, EdgeProp Buddy also offers various tools to assist in their search. These include a site plan and diagrammatic chart for Park Nova, a price trend comparison between condo and executive condo sales, and a price trend graph for new launch condos in District 10. Additionally, visitors can also check the total number of units in Park Nova and a project summary for the condo.

In related news, a freehold bungalow located at 11 Claymore Road is currently on the market for $95 million. Meanwhile, Pullman Residences Newton has set a new high of $3,671 per square foot for luxury condos in Singapore. According to a recent update, the average price of luxury condos in 2022 has dipped by 7% year-on-year.…