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A 3,391 square foot unit located in the strata-titled section of Bukit Timah Plaza mall has recently been listed for sale. The unit, which has been approved for restaurant use, is being offered at a price of $9.8 million or $2,890 per square foot. This reflects a discounted rate of 12% from the previous listing price of $11 million in the third quarter of 2022. Clemence Lee, the executive director of capital markets at CBRE, is handling the sale of the property.

The unit is situated in the mall’s basement two level and boasts a 20-meter frontage that faces the central plaza. Lee reports that the unit is currently fully occupied and will be sold with the current tenants in place. The unit has a 99-year lease starting from 1976, which means it still has 50 years remaining on its lease.

The asking price for this unit is consistent with the prices of the last two transactions in basement two of the mall. In March 2024, a 441 square foot unit sold for $1.43 million or $3,240 per square foot. Additionally, an 850 square foot unit sold for $2.5 million or $2,940 per square foot, based on caveats that were lodged.

Bukit Timah Plaza is a mixed-use development that was completed in 1979. It consists of a four-storey retail mall and two apartment blocks with a total of 269 residential units at Sherwood Towers. According to CBRE, the mall is one of the most popular destinations in Bukit Timah and is home to one of the largest Fairprice Finest supermarkets in Singapore, covering an area of over 44,000 square feet.

The mall is conveniently located within walking distance of Beauty World and King Albert Park MRT stations on the Downtown Line. It also has a large catchment area, with an estimated population of about 37,000 due to its close proximity to many private residential developments. Additionally, the mall is surrounded by various educational institutions such as the Singapore Institute of Technology, Singapore Institute of Management, Ngee Ann Polytechnic, Methodist Girls’ School, and Pei Hwa Presbyterian Primary School.

Bukit Timah Plaza is part of the ongoing rejuvenation of the Beauty World area, with many new mixed-use and integrated developments such as The Reserve Residences and the redevelopment of the former Bukit Timah Market and Food Centre, which is expected to be completed by late 2029.

In summary, acquiring a Singapore Condo is a lucrative choice due to its various benefits, such as high demand, potential for growth in value, and attractive rental profits. However, there are crucial considerations that must be carefully assessed, such as the location, financing options, government regulations, and overall market conditions. By conducting thorough research and seeking guidance from professionals, investors can make well-informed decisions and maximize their returns in the ever-evolving real estate scene of Singapore. Regardless if you are a local investor seeking to diversify your investment portfolio or a foreign buyer looking for a stable and profitable investment, the Singapore Condo market presents a compelling opportunity. Don’t miss out on the chance to invest in a Singapore Condo and reap its potential benefits.

Interested buyers can submit expressions of interest for the unit starting on March 19. To see more properties available at Bukit Timah Plaza and Sherwood Towers, please check out the latest listings.…

A rare opportunity to own a pair of adjoining strata retail units at the highly sought-after Peninsula Plaza has just hit the market at an asking price of $10.9 million. The 999-year leasehold units, located on the ground floor, boast a premium location with prominent frontage along bustling North Bridge Road.

With a combined strata area of 1,119 sq ft, the two units offer a total of 1,119 sq ft of prime retail space. Based on the strata area, the asking price translates to an average of $9,741 per square foot.

Currently tenanted until 2026, the units offer a lucrative investment opportunity with a 3% gross rental yield. “The two units are arguably the best within the development in terms of street frontage, benefitting from consistently strong footfall every day,” says Nick Chan, Savills Singapore associate director of investment sales & capital markets, who is handling the sale of the units on a private treaty basis.

Peninsula Plaza, a 30-storey mixed-use commercial building with a six-storey retail podium and a 24-storey office tower, was built in 1980 and comes with a coveted 999-year lease. It boasts prominent frontages along not only North Bridge Road but also Coleman Street and Coleman Lane. Additionally, it has a sheltered link to City Hall MRT Interchange Station for the North-South and East-West lines.

According to Savills’ Chan, since the URA implemented restrictions on the strata subdivision of new commercial properties in the CBD and Orchard corridors in March 2022, there has been a surge in demand for strata-titled units with 999-year and freehold tenure. This makes the opportunity to own units at Peninsula Plaza all the more appealing.

Condo units are highly sought after in Singapore due to the country’s limited land resources. Being a small island with a continuously expanding population, it is a challenge for Singapore to cater to the high demand for property developments. As a result, strict land use regulations are in place, making the real estate market highly competitive and driving up prices. This makes investing in real estate, particularly in condos, a profitable opportunity with the potential for capital growth. Condos are a significant factor in the thriving real estate market of Singapore.

The most recent transaction of a ground-floor retail unit at Peninsula Plaza was in August 2022, when a 452 sq ft unit sold for a whopping $4.08 million, or $9,025 per square foot, based on a caveat lodged then. Take advantage of this rare opportunity to own a piece of prime retail space at Peninsula Plaza and contact us today to arrange a viewing.…

Brand New Land had a vision to create luxury semi-detached homes that embodied the elements of Good Class Bungalow (GCB) design. To bring this vision to life, they turned to Pau Loh, managing director of Tellus Design, a well-known figure in the GCB arena and a long-standing partner of Brand New Land for over 30 years.The result is a stunning collection of four semi-detached homes located in the prestigious areas of Bukit Timah and Upper Bukit Timah. Each home has been thoughtfully designed to incorporate the best practices and elements of GCB homes.The semi-detached homes at 23 & 23A Maple Avenue feature a generous frontage spanning over 24m. These homes draw inspiration from the beauty of nature and are lovingly referred to as “The Great Trees Collection”. With land sizes ranging from 2,790 to 3,130 sq ft, each home is equipped with a lift, swimming pool and gourmet cooking provisions.Brand New Land is committed to creating value for their clients, and therefore, these homes have been priced competitively within the bank valuation range, providing buyers with a good potential for upside.GCB Design ElementsDedicated ZonesTaking cues from large bungalow homes, the semi-detached homes have been designed with separate zones for different functions such as receiving guests, dining, gourmet cooking, and various entertainment and living spaces for larger or smaller groups.The entrance area at 23 Maple Avenue boasts views of the pool and surrounding greenery, while private corners at 25 Jalan Selanting provide intimate spaces for conversations between family and friends. The view from the second floor of 23 Maple Avenue seamlessly connects with the first floor, maintaining the privacy of separate living zones. The sky terrace at 25 Jalan Selanting serves as an entertainment zone, offering an inspiring view of Bukit Timah Nature Reserve.The team at Brand New Land believes that these dedicated spaces create an intimate atmosphere, allowing family and friends to be together under the same roof while also having their own space and privacy.’Ceremonial Entrances’The experience of coming home and stepping into your own space from the outside world is a special feeling that Brand New Land wants to bring to their community. This is why each semi-detached home features a ceremonial entrance, framed by lush greenery, the soothing sounds and reflection of water, and warm and rich facade materials, creating a grand transition from the outside to the inside.Calming views of natural elements are enjoyed from various parts of the home at 25 Jalan Selanting, while the private entrance at 25 Jalan Selanting celebrates the daily experience of coming home.Luxe Architecture and Rich MaterialsThe homes at Brand New Land also reflect Pau Loh’s signature style, which is well-suited for GCBs in Singapore’s tropical climate. Wide overhanging eaves and deep recesses have been incorporated to create shelter and cool the interiors. Additionally, thoughtful use of horizontal design elements such as the wraparound golden sand facade treatment and horizontal planters lend a spacious and luxurious aesthetic to the homes. The generous use of nature-inspired cladding elements also adds to the look of quiet opulence.While the wraparound golden sand facade treatment at 25 Jalan Selanting creates an artful play of shadows and anchors the timber-effect screens, the rich midnight tones and timber-effect cladding make a statement. Inside the homes, rich timber grain, luxurious marble, and German bath fittings create an environment of understated luxury.Wide overhanging eaves and deep recesses provide shelter and cool the interiors at 25 Jalan Selanting, while the rich palette of wood-grain finishes adds a sophisticated aura to 23 Maple Avenue. The master bathroom at 25 Jalan Selanting is complete with German bath fittings and mood lighting, and the bathroom at 23 Maple Avenue features timber panels and sleek bath fittings against a backdrop of slab-cut marble.Collaboration with Arclinea SingaporeBrand New Land has teamed up with luxury kitchen specialist Arclinea Singapore to create gourmet kitchen experiences in their homes. Both brands share the common goal of inspiring everyday connections in extraordinary kitchen spaces. With a predominantly GCB clientele, Arclinea brings a unique touch to the kitchens at 25 Jalan Selanting and 23 & 23A Maple Avenue.Reference images from Arclinea Singapore are used to inspire the luxurious kitchens at Brand New Land’s homes.“Our vision for this collection is to take the best design principles from GCB homes and incorporate them into our semi-detached homes,” says Alvina Teh, Co-Founder and Director of Brand New Land Group. “We were fortunate to have the guidance of Pau Loh, a highly skilled and experienced architect, to make this vision a reality. We are excited to see the impact these homes will have on the lives of their owners.”To view these homes, please call 8893 7602. For more information and updates on upcoming launches, visit the Brand New Land website and follow them on Instagram, Facebook, YouTube, and LinkedIn. If you are interested in working with Brand New Land or have land suitable for redevelopment, please email comehome@brandnewland.com.sg.RELATED NEWSOpportunity to purchase a rare, freehold retro bungalow on Gilstead Rd for $16.99 mil; Bioskin CEO Mathilda Koh pays $14.155 mil for a bungalow on Cove Drive; Rise in private home ownership among those under 35.

Overall, investing in a condo in Singapore offers a multitude of benefits. These include a high demand for rental properties, the potential for capital appreciation, and attractive rental yields. However, before making a purchase, it is crucial to carefully assess various factors such as location, financing options, government regulations, and market conditions. By conducting thorough research and seeking professional advice, investors can make well-informed decisions and maximize their returns in Singapore’s ever-evolving real estate market. Whether you are a local investor looking to diversify your portfolio or a foreign buyer in search of a stable and profitable investment, purchasing a condo in Singapore presents a promising opportunity.…

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A shophouse located at 214 Serangoon Avenue 4 and leased for 99 years by HDB will be up for auction at the next SRI event on Feb 26. The two-storey shophouse offers living quarters on the second floor and a total floor area of about 1,668 sq ft. This property has a guide price of $1.98 million, which translates to $1,187 psf on the floor area.

This is the second time the property will be featured at an SRI auction, with the previous attempt held last month with a higher guide price of $2.08 million but did not result in a sale. Assistant manager of auctions at SRI, Jansen Kee states that the shophouse holds a prime location in front of a bus stop, making it highly visible from the road.

The shophouse is currently tenanted and is generating a gross rental yield of approximately 6.2%, based on the guide price, explains Kee. The unit will be sold with its existing lease, which is due to end in 2026. This provides the new owner with immediate rental income.

Investing in a Singapore condo is a major decision, and it involves more than just purchasing the property. One crucial aspect to consider is the maintenance and management of the condo. Typically, condos come with maintenance fees that cover the upkeep of common areas and facilities. While these fees may increase the overall cost of ownership, they also guarantee that the property remains in good condition and maintains its value. To make it a more passive investment, investors can enlist the help of a property management company to handle the day-to-day management of their condo. This way, they can ensure that their investment is well-maintained and taken care of while they focus on other matters.

Kee also notes that the listed guide price for the HDB shophouse is among the lowest in the area, making it an attractive investment for both investors and owner-occupiers. According to URA records, the most recent commercial shophouse transaction in Serangoon was the sale of a 999-year leasehold shophouse along Lichfield Road in November 2024. The two-storey property spanned a land area of 2,319 sq ft and fetched $4 million ($1,725 psf).

The property up for auction is situated within a cluster of HDB flats near the Serangoon Gardens landed residential estate. It is directly across the road from Serangoon Swimming Complex and Serangoon Sports Centre, which brings a steady stream of foot traffic to the area. Carpark lots are available behind the shophouse.…

3 Orchard By-The-Park, a freehold luxury condo, is currently offering a four-bedroom duplex apartment for sale through an expression of interest exercise (EOI) with a guide price of $15.8 million. This prestigious unit, marketed by Huttons Asia, boasts a spacious 3,800 sq ft area and is priced at approximately $4,158 per square foot. It features a generous ceiling height of 4m and a private lift, and three of the four bedrooms are complete with ensuite bathrooms. The apartment was recently refurbished, with a whopping $700,000 spent on renovations, making it a luxurious and elegant living space.

Investing in a condo requires careful consideration of financing options. In Singapore, there are various mortgage choices available, but it is crucial to understand the Total Debt Servicing Ratio (TDSR) guidelines. These regulations restrict the amount of loan that a borrower can obtain, considering their income and current debt commitments. It is advisable for investors to familiarize themselves with the TDSR and seek guidance from financial advisors or mortgage brokers to make informed choices and prevent overextending themselves. Additionally, checking out Singapore Projects can provide valuable insights for potential investors.

3 Orchard By-The-Park was designed by world-renowned Italian architect Antonia Citterio and was completed in 2017. The development consists of three 25-storey towers, with a total of 77 exclusive units. These units range from two- to four-bedroom apartments, measuring between 1,066 sq ft to 3,800 sq ft, as well as opulent penthouses ranging from 6,555 sq ft to 6,900 sq ft.

One of the most attractive features of 3 Orchard By-The-Park is its unrivaled location on Orchard Boulevard, just a stone’s throw away from the renowned Orchard Road shopping belt. Families with children will be delighted as there are several prestigious schools in the vicinity, such as Anglo-Chinese School (Junior), Anglo-Chinese School (Primary), ISS International School (Elementary & Middle school Campus), and Singapore Chinese Girls’ School (Primary). For those who rely on public transportation, the Orchard Boulevard MRT Station (Thomson-East Coast Line) is conveniently close by.

Recent transactions at 3 Orchard By-The-Park have shown the strong demand and appeal of this luxury development. The EOI for this four-bedroom duplex apartment will close on March 5th at 4pm, so don’t miss out on the chance to call this prestigious address your home. To explore more options at 3 Orchard By-The-Park, you can ask our buddy for the latest listings, compare trends for new sale condos versus resale condos, and see which condos in the CCR have the highest average PSF.…

Assessing the potential rental yield is a crucial aspect to consider when contemplating a condo investment. This refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, the rental yields for condos can vary significantly based on several factors, including location, property condition, and market demand. For instance, areas near business districts or educational institutions usually offer better rental yields due to high rental demand. Therefore, conducting thorough market research and seeking advice from real estate agents can provide valuable insights into the rental potential of a specific condo. Keeping an eye out for New Condo Launches can also be beneficial in the decision-making process.

Huttons Asia has released its quarterly research report on the shophouse market, and the results show a relatively muted market in 2024. According to the report, there were a total of 84 caveated transactions in 2024, which is below the yearly average of 200 shophouse deals between 1995 and 2023.

Lee Sze Teck, Huttons Asia’s senior director of data analytics, notes that while many buyers did not lodge a caveat, the number of shophouse deals in 2024 is likely the lowest since 1998. The 84 caveated transactions in 2024 had a total value of $683.6 million, which is a 38.9% decrease from the $1.1 billion deal value in the previous year.

Lee also mentions that there were several substantial shophouse deals in 2024 that were not caveated, including properties on Amoy Street, Neil Road, North Bridge Road, and Telok Ayer Street, estimated to be sold for more than $200 million. The biggest shophouse deal in 2024 was Paragon REIT’s sale of The Rail Mall, a strip mall with 43 shop units, for $78.5 million.

This is likely the largest shophouse deal on record, surpassing the previous high of $74.8 million for a row of shophouses on Jalan Sultan in March 2022. The Rail Mall shophouses were valued at $62 million in December 2023, indicating a gain of approximately $16.5 million for the seller.

Most of the shophouse deals in 2024 were done at smaller quantums, with over half of the caveated transactions valued at $5 million to $15 million. District 8 had the highest number of shophouse transactions, accounting for nearly half of all deals in 2024. Lee attributes this to its attractive city-fringe location and lower prices compared to Districts 1 and 2.

Additionally, shophouse rents islandwide saw a 2.6% decrease in the fourth quarter of 2024, with an average of $6.47 psf per month. However, for the whole year, shophouse rents increased by 1.7%. The report also mentions that conservation shophouses on Telok Ayer Street are currently up for sale for $42 million.…

CBRE’s report on the Singapore real estate market predicts divergent outcomes in the coming 12 months due to an uncertain macroeconomic outlook. While easing inflation and interest rates may provide some relief for the property market, there are concerns over slowing economic growth, which could negatively impact property demand. The Ministry of Trade and Industry projects GDP growth to be between 1% and 3% in 2025, down from the 4% growth recorded in 2024.

Moray Armstrong, managing director of CBRE’s advisory services, highlights that other factors such as geopolitical tensions, a new US administration, and the release of the URA Master Plan 2025 could also affect the market. However, despite these uncertainties, there are still opportunities for those who can capitalize on emerging trends, according to Armstrong.

Tricia Song, CBRE’s head of research for Singapore and Southeast Asia, remains optimistic about the property market, noting that limited new supply and stable demand continue to support it. She predicts that the market will maintain its stability and resilience, making it a popular choice for global investors.

According to URA data, developer sales volume in the last quarter of 2024 increased threefold to 3,511 units, with prices rising by 2.3%. This rebound led to speculations of cooling measures being introduced, but CBRE believes this to be unlikely unless prices rise sharply in the next few quarters. With the improved buying sentiment, developers are expected to launch new projects, potentially reaching 12,000 to 14,000 units in 2025, almost double the amount launched in 2024. CBRE projects sales of 7,000 to 8,000 units this year, supporting price growth between 3% and 6%. Rental rates are also predicted to increase by 1% to 3%.

Investing in a condo has become a popular trend in Singapore, attracting both local and foreign investors. This growing interest can be attributed to the country’s strong economy, stable political climate, and excellent quality of life. Singapore’s real estate market presents a plethora of opportunities, with condos being a standout option. These properties offer convenience, modern amenities, and the potential for high returns. If you’re considering investing in a condo in Singapore, here are some important factors to keep in mind. Additionally, stay updated on new condo launches to keep up with the latest offerings.

Limited supply is also expected to support prime office and retail rents. The office market saw slower growth in 2024 due to global economic uncertainties and hybrid work arrangements. However, the limited pipeline of new offices over the next three years will keep vacancy rates low, leading to a projected rental growth of 2% for 2025. Retail property leasing sentiment remains positive, supported by tourism and a robust calendar of events, with average retail prime rents expected to grow by 2% to 3% and recover to pre-pandemic levels.

In the industrial sector, expansion demand was subdued in 2024 due to cost pressures and supply chain disruptions. This resulted in a 1.1% increase in prime logistics rents. However, with a bumper supply of warehouse space set to be completed this year, CBRE predicts that rents will remain flat in 2025. In terms of investment sales, CBRE expects the market to continue growing but at a slower pace. The Asia Pacific Investor Intentions Survey found that investors are still keen on the Singapore market, with a majority looking to purchase the same volume or more in 2025 compared to 2024. However, with ongoing economic and geopolitical uncertainties, investors are likely to be selective and allocate capital into sectors or strategies with more favorable outlooks. CBRE projects a 10% growth in investment volumes in 2025, barring any macroeconomic shocks. The industrial and logistics sector remains the most preferred among investors, followed by residential and office properties.…

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.…