Month: February 2025

Singapore-based real estate investment trust, CapitaLand India Trust (CLINT), has announced plans to acquire a new office project in Nagawara, Outer Ring Road, Bangalore. The project, which spans over 1.13 million square feet, will be acquired through a forward purchase agreement with Maia Estates Offices for $233.6 million.

According to CLINT, the acquisition of this office project is expected to significantly improve earnings and distributions for its unitholders. On a stabilized basis, the project is expected to bring in a net profit of $7.7 million, while distribution per unit is forecasted to increase from 6.84 cents to 6.98 cents.

The office project is part of a mixed-used development that includes retail space. Under the forward purchase agreement, CLINT will fully finance the development of the office project and receive interest on the funding at a higher rate than its borrowing cost.

Upon completion of the development, which is expected in the first half of 2030, CLINT will acquire the office space while Maia will retain the retail portion. This will expand CLINT’s operational area in Bangalore to 9.9 million square feet, up from its current 8.7 million square feet. The group also has other properties under development in Bangalore, including two office buildings in Gardencity, an IT park at Hebbal, and an IT park at ITPB.

With the addition of the new office project, CLINT’s portfolio size, including its committed investment pipeline, will increase by 4.0% from about 30.2 million square feet to approximately 31.47 million square feet.

According to CEO of CLINT, Gauri Shankar Nagabhushanam, the acquisition of this strategically located office project will strengthen the group’s presence in Bangalore, one of India’s most prominent office markets. In 2024, Bangalore recorded the highest ever leasing levels for Grade A office space. Outer Ring Road (ORR) is the largest office micro-market in Bangalore, and the addition of this prime office property will give CLINT the opportunity to offer its tenants a wider selection of premium office space options across key micro-markets in the city.

On Feb 21, units in CLINT closed flat at $1.

One crucial factor to consider when investing in a Singapore condo is the government’s property cooling measures. Singapore’s government has implemented various measures over the years to prevent speculative buying and maintain a steady real estate market. These measures, such as the Additional Buyer’s Stamp Duty (ABSD), impose higher taxes on foreign buyers and those 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, creating a more secure environment for investments. As such, it is essential for investors to carefully consider these measures when making decisions about purchasing a Singapore condo.

Are you looking to invest in overseas properties? Explore projects available for sale around the world!…

Sim Lian Group has recently announced the opening of its executive condominium (EC), Aurelle of Tampines, for e-application on February 22. Located at Tampines Street 62 in Tampines North, this 760-unit EC is the first new project launch of 2025.

Aurelle of Tampines is strategically located near the upcoming Tampines North Transport Hub, just a five-minute walk away. This hub includes the Tampines North MRT Station, which will be part of the Cross Island Line set to open in 2030. The hub also features an air-conditioned bus interchange and is integrated with a mixed-use development, ParkTown, which includes a mall, community club, hawker centre and ParkTown Residence. The 1,093-unit ParkTown Residence will also be officially launched for sale on February 22.

The EC project comprises fourteen 14-storey residential blocks spread across a site area of 301,391 sq ft. According to Sim Lian, the units are specifically designed for young professionals and growing families, and thus feature a mix of three- to five-bedroom units.

When it comes to investing in Singapore, it is crucial for international investors to be well-informed about the regulations and limitations surrounding property ownership. In general, foreign buyers have more flexibility when purchasing condos compared to landed properties, which have stricter ownership guidelines. However, it should be noted that foreign investors are subject to the Additional Buyer’s Stamp Duty (ABSD) at a current rate of 20% for their first property acquisition. Despite this added expense, the stability and potential for growth in the Singapore real estate market continue to entice foreign investment, making Singapore Condo a popular choice among foreign buyers.

Prices for Aurelle of Tampines start from $1.417 million ($1,687 psf) for a three-bedroom unit of 840 sq ft, $1.689 million ($1,651 psf) for a four-bedroom unit of 1,023 sq ft, and $2.258 million ($1,665 psf) for a five-bedroom unit of 1,356 sq ft.

The project also boasts an impressive clubhouse with seven pools (artist’s impression shown above), and is located next to Tenet, another EC project by Qingjian Realty and Santarli Realty. Launched in December 2022, Tenet has sold 617 out of its 618 units at an average price of $1,385 psf. The highest transacted price recorded was for a 1,367 sq ft unit that sold for $2.26 million ($1,651 psf) in December. As of February 21, there is only one unit left for sale in Tenet.

E-application for Aurelle of Tampines will begin on February 22 and end on March 4, with sales bookings starting on March 8. The appointed marketing agents are ERA, Huttons, OrangeTee and PropNex. Under the current EC regulations, during the initial launch period (first 30 days), 70% of the units have to be allocated to first-time buyers, with only 30% open to second-timers.

For those interested, check out the latest listings for Aurelle of Tampines, Tenet and Parktown Residence properties. If you need more information, you can also ask Buddy or use the search function on EdgeProp to find condos and rental transactions in District 18, and compare the price trends for new sale and resale condos. Additionally, you can also check for available units in Tenet and other recently launched projects.…

River Valley Apartments, a freehold condominium located at River Valley Road, has been successfully sold for $56 million. This marks the first residential collective sale deal to close in 2025, with a land rate of $1,622 psf per plot ratio (psf ppr). The strata-titled owners of the development are set to receive minimum proceeds of $2 million to $2.6 million each, based on the sale price.

According to a press release from Knight Frank Singapore, the marketing agent for the sale, the buyer is a Singapore family office that has plans to redevelop the site into serviced apartments. The Urban Redevelopment Authority (URA) has already granted an Outline Permission for the development.

“This is a significant achievement, considering the challenging collective sale market, particularly for the residential sector,” says Chia Mein Mein, head of capital markets (land and collective sale) at Knight Frank Singapore.

The collective sale of River Valley Apartments is the first residential collective sale site sold in a prime district since May 2023, when Kew Lodge was sold for $66.8 million to Aurum Land.

“The tender for River Valley Apartments attracted strong interest,” says Chia. She attributes this to the development’s prime location in the popular River Valley neighbourhood, and the potential for the site to be redeveloped into a serviced apartment project, which is a popular trend in Singapore’s fast-growing living sector.

River Valley Apartments comprises a four-storey building with 24 units. The 12,408 sq ft site is zoned for residential use, with a gross plot ratio of 2.8 under the latest Master Plan. The owners of River Valley Apartments launched the collective sale of the development on January 7, with a guide price of $56 million.

“This is not the first time we have attempted to initiate a collective sale exercise, but it is the first time we have secured the 80% owners’ consensus to proceed with the tender launch,” says Jerry Tan, chairman of the River Valley Apartments collective sale committee. The development has been on the collective sale market in the past, but this is the first time that the required majority has been reached for a successful sale.

Find properties for sale or rent in River Valley Apartments

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When it comes to investing in real estate in Singapore, purchasing a condo is a wise choice. This type of property offers several advantages, from a high demand in the market to the potential for capital appreciation and attractive rental yields. However, it is crucial to take into account specific factors before making an investment decision, such as the location, financing options, government regulations, and current market conditions. To ensure a successful investment, it is essential for investors to conduct thorough research and seek professional advice. Whether you are a local looking to diversify your portfolio or a foreign buyer searching for a stable and profitable investment, condos in Singapore, available through Condo, present a compelling opportunity. With a dynamic real estate market in Singapore, investors can maximize their returns by making an informed decision.

– Ask Buddy
– Listings for sale for River Valley Apartments
– Are there unprofitable transactions in River Valley Apartments?
– Compare price trend of HDB vs Condo vs Landed
– View sale transactions for River Valley Apartments
– Any condo rental listings in District 10?…

Ultimately, investing in a condominium in Singapore can prove to be a wise decision, offering a plethora of benefits that include a high demand, potential for capital appreciation, and attractive rental yields. However, it is crucial to carefully consider various aspects such as the location, financing options, government regulations, and market conditions. By conducting thorough research and seeking professional advice, investors can make informed decisions and maximize their returns in the dynamic real estate market of Singapore. Whether you are a local investor looking to diversify your portfolio or a foreign buyer searching for a stable and profitable investment, investing in condos in Singapore presents an alluring opportunity. In fact, with the constant launch of new condo projects, such as New Condo Launches, the potential for growth and returns in the Singapore real estate market is even more promising. With proper due diligence and strategic planning, investing in a condo in Singapore can be a highly rewarding venture for both local and foreign investors alike.

The sale of a four-bedroom unit at luxury development Nassim 9 has recorded the most profitable private non-landed resale transaction during the period of Feb 4 to Feb 7. The unit, located on the third floor and spanning 2,486 sq ft, was sold for $7.5 million, translating to $3,016 psf on Feb 7. This was the third-most profitable resale at Nassim 9, with the current record set in March 2023 when a larger four-bedroom unit was sold for $9.5 million, or $3,448 psf. The seller of the unit sold on Feb 7 had purchased it for $4.12 million in December 2005, thus making a profit of $3.42 million, or 83.8% of their original purchase price. This translates to an annualised gain of 3.2% over 19 years. Nassim 9, which is a boutique condo located along Nassim Road, has a total of eight units and was completed in 2002. It consists of four-bedroom units spanning between 2,756 and 3,423 sq ft. According to URA caveats, the second-most profitable resale during this period was at Mount Faber Lodge. The transaction involved a triplex penthouse unit that changed hands for $5 million, or $1,350 psf, on Feb 5. The unit had previously been purchased for $1.6 million in August 2001. This translates to a profit of $3.4 million, or 212.5%. This was the most profitable transaction at Mount Faber Lodge to date, with the previous record set in October 2022 when a three-bedroom unit was sold for $3.89 million, or $1,457 psf. Completed in 1983, Mount Faber Lodge is a boutique freehold development located along Mount Faber Road and comprises of a mix of studio, two, and three-bedroom units, along with 20 five-bedroom triplex penthouses. The third-most profitable transaction during the period in review was at Amaryllis Ville, a 99-year leasehold condo in prime District 11. A three-bedroom unit on the 28th floor was sold for $2.65 million, translating to $2,141 psf, on Feb 5. The unit had previously been bought for $1.09 million in June 2005. This translates to a profit of $1.56 million, or 142.2%, over 19.5 years. The second-most profitable transaction at Amaryllis Ville was in September 2023 when a three-bedroom unit was sold for $3.75 million, or $1,885 psf, after being purchased for $1.95 million in June 2009. Based on resale data from EdgeProp Singapore, resale prices at Amaryllis Ville have been on a steady incline, with the average price hitting $2,082 psf as of last month, representing a 4% y-o-y increase. There were no unprofitable transactions during the period in review.…

Singapore’s cityscape is defined by towering skyscrapers and state-of-the-art infrastructure. The city’s condos, strategically situated in sought-after locations, offer a perfect fusion of opulence and convenience that captures the attention of both locals and foreigners. These upscale residential complexes offer a host of modern facilities including swimming pools, fitness centers, and top-notch security services, elevating the standard of living and making them a desirable choice for potential tenants and buyers alike. For real estate investors, these amenities translate into higher rental returns and appreciation of property values in the long run. Adding Singapore Condo to the rephrased paragraph adds a valuable resource for those seeking luxury living options in the bustling city of Singapore.

8M Residences at Geylang Road in District 15, topped the list of private condos to hit a new psf-price peak in the week of Feb 1 to 7. This freehold development achieved a new high of $2,384 psf when a two-bedroom unit on the 15th floor was sold for $1.54 million on Feb 3. This marks the first time a unit at 8M Residences was sold for more than $2,300 psf.The record-breaking sale beats the previous peak of $2,261 psf set in April 2023, when a similar two-bedroom unit on the 11th floor sold for $1.46 million. Another unit at 8M Residences also surpassed the April 2023 record when a 527 sq ft, one-bedroom unit on the 11th floor was transacted for $1.2 million ($2,275 psf).In terms of absolute price, the most expensive unit sold at 8M Residences is a 1,841 sq ft, three-bedroom unit that fetched $2.85 million ($1,548 psf) when it was sold by developers in October 2012.Resale data compiled by EdgeProp Singapore shows that resale prices at 8M Residences have consistently risen over the past few years. Based on a 12-month rolling average, the average price of units at the condo increased by 7.3% over the last three years, from $2,028 psf in February 2022 to $2,177 in February 2025.8M Residences is a 20-storey residential tower with 68 units, completed in 2017. The development comprises one- to three-bedroom units ranging from 517 to 1,421 sq ft, as well as four penthouses ranging from 1,184 to 1,841 sq ft. It is located within walking distance of various amenities such as EtonHouse International Research Pre-School, Katong Swimming Complex, and Katong Park MRT Station.Meanwhile, the sale of a three-bedroom unit at Kovan Jewel, a boutique condo along Kovan Road in District 19, also achieved a psf-price high coming in second on the list. A 1,076 sq ft unit on the second floor was sold for $2.41 million on Feb 7, setting a new high of $2,236 psf. This exceeded the previous peak at Kovan Jewel set last August, when a similar 1,076 sq ft, three-bedroom unit on the fourth floor was sold for $2.4 million ($2,228 psf).Kovan Jewel is a freehold condo completed in 2020 with one- to three-bedroom units ranging from 624 to 1,345 sq ft and four-bedroom penthouses from 1,237 to 2,153 sq ft. As of Feb 18, 17 units (50%) at Kovan Jewel have been sold at an average price of $2,11 psf, based on caveats lodged. Nine units were sold last year at an average price of $2,111 psf. The unit sold on Feb 7 is the first unit sold this year.Oleanas Residence, a freehold condo along Kim Yam Road in District 9, takes third place on the list with a 1,141 sq ft, three-bedroom unit on the sixth floor fetching $2.52 million on Feb 3, setting a new record of $2,207 psf at the condo. This beats the previous high of $2,157 psf set in August 2022 when a 1,238 sq ft, three-bedroom unit was sold for $2.67 million.Oleanas Residence has four-bedroom units from 1,238 to 1,636 sq ft, with the most expensive resale unit being a 1,636 sq ft, three-bedroom unit that fetched $3.3 million ($2,017 psf) in December 2022. Completed in 1999, the condo recorded just four resale transactions in the last three years. The transactions ranged from $2.4 million ($2,103 psf) for a 1,141 sq ft, three-bedroom unit in November 2023 to $3.3 million ($2,129 psf) for a 1,550 sq ft, four-bedroom unit in April 2024.Oleanas Residence is within walking distance of two MRT Stations: Great World MRT Station on the Thomson-East Coast Line and Fort Canning MRT Station on the Downtown Line. Nearby educational institutes include River Valley Primary School and Outram Secondary School.…

Heeton Holdings reported a significant increase in earnings for the second half of FY2024 ended Dec 31, 2024, with a rise of 221% compared to the same period the previous year, reaching $3.85 million.However, despite this positive development, the group’s overall results for the full year were still in the red.For the 2HFY2024, earnings per share were recorded at 0.79 cents per ordinary share, while for the full year, they were at a negative 0.28 cents per share.Revenue for the 2HFY2024 showed a 10.5% year-on-year growth, amounting to $41.1 million. Meanwhile, for the full year, the group’s revenue increased by 15.2% year-on-year to reach $78.2 million.Read also: [UPDATE] Tenet EC is 93.2% sold after balloting by second-time buyersAdvertisementAdvertisementThe main sources of turnover for the 2HFY2024 were rental income from investment properties, hotel operations, and management fees. The increase in turnover for the year ended Dec 31, 2024 was mainly attributed to higher occupancy rates in the United Kingdom and an increase in rental rates for the group’s investment properties.During the year, the group disposed of some of its subsidiaries, particularly its 70% interest in Gloucester Corinium Avenue Hotel Limited and Ensco 1154 Limited. This resulted in a net gain of $3.78 million.As of Dec 31, 2024, the group’s property, plant, and equipment amounted to $418.83 million, with hotel properties making up the majority. There was a recorded increase of $16.92 million in FY2024 due to the acquisition of a hotel in Edinburgh, United Kingdom. However, this was offset by the appreciation of Pound Sterling and the reversal of impairment charges, as well as the disposal of hotels in Japan and the United Kingdom and depreciation charges incurred.In terms of cash flow, the group saw a decrease in cash and cash equivalents of $32.70 million due to significant inflows and outflows. Among these, the proceeds from the disposal of property, plant, and equipment amounted to $26.43 million, while proceeds from the disposal of subsidiaries reached $11.37 million.On the other hand, cash outflows were recorded for a net repayment of loans from associated and joint venture companies amounting to $24.45 million, as well as for additions to property, plant, and equipment at $40.36 million, and the pledge of restricted cash for a bank facility worth $22.98 million.AdvertisementAdvertisementGiven the current uncertain economic situation in Singapore and the geopolitical landscape under the Trump administration, the group intends to maintain its prudent and measured strategic expansion.Read also: Showsuite expands into legal-tech real estate solutionsAs the hospitality industry continues to grapple with challenges such as high operating and labor costs, increased interest rates, and an unpredictable macroeconomic environment, Heeton remains committed to providing personalized boutique experiences for its guests.The group will also continue to participate in land tenders in the local residential market, including government housing schemes, often as part of a consortium. Furthermore, its two retail malls are projected to continue generating stable recurring income for its property investment business.The group announced a final dividend of 0.5 cents per share for the current financial period.Shares of Heeton closed Feb 20 at a 1.818% decrease, or 0.5 cents lower, at 27 cents.

Singapore’s cityscape is characterized by tall buildings and advanced structures. The popularity of condos in Singapore is evident due to their strategic locations in prime areas, offering a mixture of lavishness and convenience that appeals to both locals and foreigners. With amenities such as swimming pools, gyms, and security services, these condos greatly enhance the overall living experience, making them an attractive choice for potential tenants and buyers. Property investors also benefit from the various facilities offered by these condos, as they lead to higher rental yields and a steady appreciation in property values over time. Additionally, the emergence of new condo launches by developers like Ananar adds even more options for those looking to invest in this lucrative market. As such, condos continue to be a highly sought-after form of housing in the urban landscape of Singapore.…

Que Neo, a prominent businessman and boutique property developer from Singapore, has a strong vision for his latest residential projects – he wants to develop properties that he would personally choose to live in. Euro Properties, his company, is currently working on a new project called K Suites, which will be a 19-unit apartment block located along Lorong K Telok Kurau in the highly sought-after District 15 area. The project, which is being developed by subsidiary company EG Properties, is expected to obtain its temporary occupation permit (TOP) in the first quarter of 2025.

The main attraction of K Suites is its prime location, offering easy access to amenities such as the beach, East Coast Park, shopping malls, the Central Business District (CBD), and Changi Airport. Neo explains, “With the East Coast Parkway and Pan-Island Expressway, it takes just 10 minutes to reach the airport and 10 minutes to get to downtown.”

The project is also conveniently close to public transportation options, with the nearest bus stop being less than 50m away. From there, residents can take a short ride to two nearby MRT stations – Marine Parade on the Thomson-East Coast Line (TEL) and Eunos on the East-West Line (EWL). Eunos Station is just one stop away from the Paya Lebar Interchange, which connects to the EWL and Circle Line, and five stops from the Bugis Interchange, which connects to the EWL and Downtown Line. Meanwhile, Marine Parade Station is just five stops away from the Marina Bay Interchange, where residents can access the TEL, North-South Line, and Circle Line, and six stops from Shenton Way in the CBD. The TEL also offers direct train access to popular destinations like Orchard Road and Woodlands North, which is also the location of the upcoming Rapid Transit System (RTS) Station that will connect Singapore to the Bukit Chagar Station in Johor Bahru.

In terms of education, K Suites is located within 1km of popular primary schools such as Tao Nan School, Haig Girls’ School, and CHIJ (Katong) Primary. It is also close to prestigious secondary schools like Dunman High School, Tanjong Katong Secondary School, and Tanjong Katong Girls’ School. For young families with children, the project is just two doors away from PCF Sparkletots @ Joo Chiat, a popular preschool.

The apartments at K Suites have been thoughtfully planned and designed by JGP Architecture. The building boasts a sleek and contemporary facade thanks to its curtain wall system, which also allows for plenty of natural light and unobstructed views of the surrounding neighborhood. The units feature regular layouts with ceiling heights ranging from 3.5m to 4.5m. The duplex penthouses, on the other hand, have a lofty 7m ceiling height. According to Neo, “The apartments have no bay windows or wasted corridors, resulting in more spacious and efficient interiors.”

The units are also outfitted with top-of-the-line German brand fittings such as Miele kitchen appliances, Duravit sanitaryware, and Grohe bathroom fittings. Residents can also enjoy a variety of facilities, including a swimming pool, Jacuzzi, BBQ pit, lounge area, gym, outdoor fitness area, and playground.

K Suites also offers a grand arrival and drop-off area and a surface car park with space for 16 cars. There are also two electric vehicle charging stations available.

Since its preview in September 2022, the first phase of 10 units has already been sold, with the majority of buyers being Singaporeans, including professionals such as doctors, lawyers, and corporate executives. The remaining units in the development are now being released for sale. These include three-bedroom apartments starting from $2.058 million ($2,582 psf) and four-bedroom units starting from $2.525 million ($2,347 psf). The sole five-bedroom penthouse is tagged at $3.5 million ($2,154 psf). According to Neo, “K Suites is the most affordable new freehold project in District 15.”

Boutique developments, like K Suites, have been gaining popularity in District 15, especially since the onset of the pandemic. These smaller, exclusive developments offer a sense of tranquility and exclusivity that appeals to some buyers. An analysis by Huttons Data Analytics showed that prices in selected boutique developments in the area have appreciated by over 100% since their launch. Additionally, rental prices in the area have also seen a significant increase, with some boutique condos in Telok Kurau and Joo Chiat, such as the 127-unit Coralis, seeing a 76.5% increase in median rents over the past five years.

District 15 has always been a favorite among expatriate tenants due to its convenient location and lifestyle offerings, including the nearby East Coast Park, beach, and numerous F&B options. K Suites is also expected to attract investors, with its prime location and potential for rental returns.

Singapore’s cityscape is characterized by towering skyscrapers and state-of-the-art infrastructure. Condos, strategically located in sought-after areas, offer the perfect combination of opulence and convenience, making them highly desirable for both locals and foreigners. These modern residences come equipped with a variety of facilities, including swimming pools, fitness centers, and round-the-clock security, elevating the overall living experience and making them an attractive option for potential renters and buyers. From an investor’s perspective, these amenities result in higher rental returns and a steady increase in property values over time.…

In summary, purchasing a Singapore condo offers a multitude of benefits, such as strong demand, potential for increased value, and attractive rental returns. However, it is crucial to carefully consider various factors, including the location, financing options, government regulations, and market conditions. With thorough research and guidance from professionals, individuals can confidently make informed decisions and maximize their profits in the ever-changing real estate market of Singapore. Whether you are a local investor looking to diversify your investments or a foreign buyer seeking a stable and lucrative opportunity, a Singapore condo presents a highly attractive option.

eRoad damage repaired Blocked drains cleared and road cleanup underway AdvertisementThe private housing rental market saw a modest rebound in the fourth quarter of 2024, with rents inching up 0.2% quarter-on-quarter (q-o-q) in the last three months of the year, according to a market report by Savills Singapore. However, landlords should not expect much rental growth this year as the market is likely to remain flat.The non-landed private residential market had a relatively poor performance in the first three quarters of 2024, which led to a 1.7% decline in rents for the whole year, marking the first full-year drop since the market recorded a 0.5% year-on-year (y-o-y) decline in 2020. In the last quarter of 2024, there were 19,733 leasing transactions, marking a 24.2% drop from the previous quarter.According to Savills, the decline in leasing activity is likely due to a decrease in net new rental demand as well as a seasonal lull in rental activity at the end of the year. The decrease in the number of employment pass (EP) and S pass holders in 2024 could also have contributed to the lower demand for rentals.Additionally, the bulk of the decline in leasing activity was attributed to a 30.8% decline in rental contracts for landed homes across the island. Leasing volumes for apartments and condominiums also saw a 23.7% decrease over the same period.Despite the decrease in leasing activity, there is still some growth in rental demand, according to George Tan, managing director of Livethere Residential at Savills Singapore. He also notes that rents in the private residential market have stabilized. Additionally, more affordable rents can be found in suburban areas, which allows tenants to prioritize lifestyle options such as larger units, proximity to MRT stations, malls, and recreational activities.According to rental data compiled by Savills, the development with the most condo leasing deals in the fourth quarter of 2024 was Parc Esta, a 1,399-unit development in District 14. The project recorded 163 rental transactions at a median rent of $6.84 psf per month (pm). Other developments with high rental transactions include Marina One Residences (126 transactions at $6.62 psf pm), The Sail @ Marina Bay (126 transactions at $6.72 psf pm), Normanton Park (120 transactions at $6.26 psf pm), and D’Leedon (107 transactions at $5.43 psf pm).In terms of rental price growth, the Outside Central Region (OCR) was the only region in the fourth quarter of 2024 that saw average rents decline, with a 0.8% decrease q-o-q. In contrast, rents in the Core Central Region (CCR) and Rest of Central Region (RCR) saw growth of 0.9% q-o-q and 0.3% q-o-q, respectively. According to Savills, the decline in rent prices in the OCR could be due to an increased number of tenants in suburban locations shifting to more central neighborhoods, driven by relatively more affordable rents.Based on a basket of luxury properties tracked by Savills, the average monthly rent for high-end condos increased by 1.7% q-o-q in the fourth quarter of 2024, reaching $5.85 psf pm. This suggests that the luxury rental market could see a slight rebound after consistently declining over the previous five quarters.Looking ahead, landlords are likely to face headwinds in the rental market as companies continue to reduce headcounts and hire fewer expatriates, says Alan Cheong, executive director of research and consultancy at Savills Singapore. Additionally, landlords face higher property taxes for non-owner-occupied residential properties, as well as increased conservancy charges due to upward inflationary pressures.However, the relatively limited supply of large luxury properties on the rental market may help landlords resist “underpriced” rental offers, according to Cheong. He adds that “Although rents for non-landed private residential properties turned the corner in the third quarter of 2024 and continued rising in the fourth quarter of 2024, we anticipate challenges in the rental market in 2025.”In the future, the widespread adoption of AI could reduce overall manpower requirements for some high-tech firms, and companies may continue to reduce hiring of white-collar professionals. This could lead to a smaller pool of expat tenants in Singapore, says Cheong. “The saving grace for the rental market is that for 2025, there are fewer new completions of private homes expected,” he says. Higher property taxes on investment properties will also discourage landlords from accepting “low ball” rental rates. Additionally, Cheong expects that it may take longer for interest rates to fall, which could result in mortgage payments remaining at current levels for longer.…

CBRE is the appointed marketing agent for the sale of the 27-room Hotel Clover at 7 Hongkong Street and a commercial building at 36 Hongkong Street, with respective guide prices of $27 million and $22.6 million. Both properties offer an excellent opportunity for investors looking to enter the CBD market. The boutique hotel, sitting on a 1,701 sq ft plot with a plot ratio of 4.2, is zoned for commercial use and has a remaining land tenure of 89 years. It features six storeys and a total floor area of 7,142 sq ft, with a corresponding price of $3,780 psf. The adjacent five-storey commercial building is also listed for sale, with a guide price of $22.6 million. It sits on a plot measuring 1,733 sq ft and has a similar plot ratio of 4.2, as well as a remaining land tenure of 93 years. The total floor area of this property is 7,279 sq ft, translating to a price of $3,105 psf. Fully occupied by a bridal shop and offices, this building is an attractive investment opportunity. The CBD location of both assets, combined with their appealing remaining land tenures and plot ratios, make them suitable for those seeking a flagship asset with naming rights and potential for rental growth and capital appreciation. Eligible for purchase by foreigners and companies without incurring ABSD or SSD, these properties are situated in the vibrant Clarke Quay area, home to a variety of eateries, bars, boutique hotels, and fitness studios. Major nearby developments, including CQ@Clarke Quay and Canninghill Piers, further enhance the appeal of the location. Prospective buyers can submit their interest by March 26. For more information on commercial and industrial properties, visit our website or speak to our experts at CBRE.

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Investing in a condominium in Singapore offers various benefits, one of which is the potential for capital appreciation. This Southeast Asian country is known as a global business hub and boasts a robust economy, making it a desirable location for real estate investment. The demand for properties in Singapore remains consistently high, driving property prices upwards. This trend has been evident over the years, particularly in prime locations where condominiums have experienced significant appreciation. By carefully timing their investments and holding onto their properties for extended periods, investors can reap the rewards of substantial capital gains. Keep track of New Condo Launches to stay updated on the latest opportunities in the market.…

When contemplating an investment in a condo, it is essential to also examine its potential rental yield. Rental yield refers to the yearly rental income as a percentage of the condo’s purchase price. In Singapore, the rental yields for condos can vary greatly depending on factors such as location, property condition, and market demand. Typically, areas with high rental demand, like those near business districts or educational institutions, offer more favorable rental yields. To gain valuable insights into the rental potential of a specific condo, it is advisable to conduct thorough market research and seek guidance from real estate agents.

Experts Discuss the Outlook for Singapore’s Property Market – What You Need to Know

The recent announcement by the government that they are considering implementing more property cooling measures, along with the influx of upcoming housing supply from government land sale (GLS) sites and Build-To-Order (BTO) launches, as well as potential impacts from the Budget 2025 announcements, have sparked discussions about the future of Singapore’s real estate market. On Sunday, February 16, these were some of the main topics discussed at EdgeProp Singapore’s Property Market Outlook event.

The panel of experts included Alan Cheong, executive director of research and consultancy at Savills Singapore; Wong Xian Yang, head of research, Singapore and Southeast Asia at Cushman & Wakefield; and Song Seng Wun, Singapore economic advisor at CGS International. The panel was moderated by EdgeProp Singapore CEO Bernard Tong.

The event, organized by EdgeProp Singapore, took place at the preview of Elta, a new 501-unit project jointly developed by MCL Land and CSC Land Group. The sales gallery opened to the public on February 7.

New Property Cooling Measures and Upcoming Supply

In January, the government stated that they were open to implementing more property cooling measures and that it was not yet time to rollback on existing measures. This news comes as developers have seen a jump of 256% in year-on-year sales, with 1,083 new private residential units (excluding executive condos) sold last month.

According to Cheong, if new cooling measures are introduced, they are likely to be applied uniformly across the residential market. The panel also discussed the possibility of measures targeting the HDB resale market, which forms the “floor” of Singapore’s housing market. Wong pointed out that a surge in prices in the HDB resale market could put upward pressure on private housing prices, making it a potential target for cooling measures.

On the other hand, Tong highlighted the government’s plans to inject a strong supply of new housing through GLS and BTO, with the 1H2025 GLS program consisting of 10 Confirmed List sites that could yield 5,000 new homes, and HDB planning to offer 19,600 BTO flats in 2025.

Under the new BTO classification, newly launched Prime and Plus BTO flats will take about 14 years to enter the resale market, so their impact on prices will not be felt for some time, according to Cheong. Wong added that price trends in the resale market are more affected by project completions and HDB estates reaching their minimum occupation period (MOP) rather than the pipeline of GLS sites up for tender each year. “Project completions, rather than GLS supply, are more likely to affect prices,” he said.

Despite the potential for new cooling measures, all three experts noted that the recent successes in the new launch market show strong buyer confidence for projects launching this year. Elta saw about 4,500 visitors during its first three days of being open to the public, and other new launches this year, such as The Orie and Bagnall Haus, have experienced high selling rates of 86% and 63% respectively.

Budget 2025 and Its Potential Impact on the Property Market

The panel also discussed the potential impacts of the upcoming Budget 2025 announcements on the property market this year. According to Song, Singapore has seen a relatively strong economic recovery since the recession caused by the Covid-19 pandemic. With 2025 being an election year, he believes that Singaporeans can expect more handouts funded by government surpluses.

Questions from the Audience

During the Q&A session, some participants raised concerns about the current state of the residential property market, with some questioning whether it is in a “euphoric” phase. Cheong commented that the current exuberance in the market is likely to subside as developers carefully time the launch of new projects. He added that several upcoming projects are located in areas that have not seen a new launch in many years, leading to pent-up demand.

Rental Market and Upcoming Transformation Plans

The panel also took questions about the rental market, which has slowed since its peak two years ago. Cheong noted that while the total number of expatriates in Singapore has declined, there was an uptick in the volume of rental transactions in 2024. He explained that falling rents may have encouraged some renters to find their own accommodation instead of flat-sharing. However, this was offset by job layoffs in certain industries, which may moderate rental price growth this year.

During the Master Plan Master Class session, Tong covered upcoming transformation plans in Clementi and Jurong East. He noted that the completion of the second phase of the Cross Island Line (CRL) will add a new MRT station (West Coast) and turn the existing Clementi station into an interchange. “Historically, MRT interchanges have a positive impact on surrounding property prices,” Tong said.

Transformation plans in Clementi include the redevelopment of Clementi Stadium and the installation of more than 6.6km of cycling paths throughout the area. Demand for housing in Clementi is also expected to benefit from the progressive development of the Jurong Lake District and the creation of new jobs in the nearby Tuas megaport, Tuas Biomedical Park, Jurong Island, and Jurong Innovation District.

Data compiled by EdgeProp Singapore shows that the average age of existing condos in Clementi is around 17 years. Tong observed that recent new projects in the area have seen strong capital gains over the years, such as Elta’s neighboring project Clavon (24% increase since launch) and The Clement Canopy (43% price growth since launch). EdgeProp Singapore offers a suite of property tools that can help owners, buyers, and sellers understand market and price trends, including HDB resale prices, analytics of profitable transactions, and upcoming GLS sites.

In summary, the experts at EdgeProp Singapore’s Property Market Outlook event believe that new cooling measures, incoming housing supply, and potential impacts from the upcoming Budget 2025 announcements could affect the property market this year. However, strong demand for new launches and upcoming transformation plans suggest a positive outlook for the market.…