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The Housing and Development Board (HDB) will release over 25,000 new flats in 2025, announced Minister for National Development Desmond Lee in a joint press release by HDB and the Ministry of National Development (MND) on Jan 16.

This includes about 19,600 build-to-order (BTO) flats in three sales exercises, as well as more than 5,500 sale of balance flats (SBF) in one SBF sale exercise. These units will be a mix of Standard, Plus and Prime BTO flats under the new classification framework.

In the February BTO launch, approximately 5,000 flats will be offered in Kallang/Whampoa, Queenstown, Woodlands, and Yishun. This is in line with the government’s commitment to provide affordable housing options for Singaporeans.

Next month, HDB will also conduct its largest-ever Sale of Balance Flats (SBF) exercise, offering over 5,500 flats across various estates. About 40% of the flats in the SBF exercise are already completed, while the rest are at different stages of construction and are expected to be ready between 2025 and 2028.

In total, more than 10,000 new flats will be available under the February BTO and SBF exercises. This is a result of the government’s efforts to ramp up the BTO supply, with about 82,700 BTO flats launched in the last four years (2021-2024). With the planned pipeline of 19,600 BTO flats in 2025, HDB is on track to exceed its commitment of 100,000 units over five years.

The increase in BTO supply has also led to a drop in application rates. In 2024, the average application rate among first-time homebuyers for BTO flats across all flat types was 2.1, compared to 3.7 in 2019 before the pandemic. The average first-timer application rate for three-room and larger flats in 2020 was 2.2, down from 4.0 in 2019.

Minister Lee assures that HDB will continue to release a steady pipeline of flats to meet housing demand in the next few years, with over 50,000 flats planned for launch between 2025 and 2027. This will bring the total to about 130,000 flats from 2021 to 2027.

In 2025, there will be approximately 3,800 Shorter Waiting Time (SWT) flats of less than three years, which is about one-fifth of the BTO flats slated for launch. This is an increase from the 2,876 SWT flats offered in 2024 and also exceeds the committed annual supply of 2,000 to 3,000 SWT flats.

According to Lee Sze Teck, senior director of data analytics at Huttons Asia, the increase in SWT flats will provide more options for buyers and may also attract demand away from the resale market. He also believes that the larger flat supply and SWT flats will help address the shortfall in Minimum Occupation Period (MOP) flats.

In 2025, an estimated 7,000 HDB flats will reach their five-year MOP, making it the lowest supply of such resale flats since 2015. With HDB’s assurance of pushing out more BTO and SBF flats to meet demand, there will be more choices for buyers and this will also help stabilise the resale market.

The demand for condos in Singapore remains consistently high, driven by the country’s limited land availability. As a small but densely populated island nation, Singapore faces the constant challenge of finding space for development. As a result, the government has implemented strict land use policies, creating a competitive real estate market where property prices soar. This makes investing in real estate, especially in condominiums, an attractive option with the potential for significant capital appreciation. Considering the scarcity of land, it is crucial to stay updated on the latest New Condo Launches to make informed and profitable investments in Singapore’s condominium market.

Huttons’ Lee predicts that the number of HDB resale flat transactions in 2025 will range between 26,000 and 28,000, which is lower than the 28,876 units recorded in 2024. Resale flat prices are also expected to grow at a slower pace of 5% to 8% this year, compared to the 9.6% increase seen in HDB’s flash estimate for 2024.…

Securing financing is a crucial factor in purchasing a condo. For those interested in Singapore Condo, there are various mortgage choices available. However, it is crucial to familiarize oneself with the Total Debt Servicing Ratio (TDSR) framework. This framework limits the amount of loan a borrower can obtain, calculated based on their income and current debt commitments. To make sound financing decisions and prevent excessive borrowing, it is advisable to comprehend the TDSR and seek guidance from financial advisors or mortgage brokers.

The sale of the three-bedroom penthouse at Orchid Mansion on Dec 31 recorded a profit of $2.58 million (112%), making it the most profitable resale transaction between Dec 31, 2024, and Jan 7, 2025. The 2,842 sq ft unit on the 21st floor was sold for $4.88 million ($1,717 psf). It was previously purchased for $2.3 million ($809 psf) in March 2009, resulting in an annualized profit of 4.9% over nearly 16 years. This transaction also set a new record for the highest profit achieved at Orchid Mansion, surpassing the previous record of $1.15 million (72.6%) set in July 2022 when a 1,507 sq ft three-bedroom unit on the seventh floor was sold for $2.73 million ($1,812 psf). The unit had been bought for $1.58 million ($1,050 psf) in June 2007.Orchid Mansion is a freehold development located on Amber Road in District 15. Completed 20 years ago, it comprises a 21-story residential tower with a mix of two- and three-bedroom units ranging from 1,346 sq ft to 2,002 sq ft. There are also two penthouses measuring 2,842 sq ft and 2,734 sq ft each.On the other hand, the second most profitable resale transaction during the same period occurred at Villa Marina, where a 1,625 sq ft unit was sold for $2.35 million ($1,446 psf) on Jan 3. The three-bedroom unit on the ground floor was previously purchased for $630,500 ($388 psf) in September 2006, resulting in a profit of $1.72 million (273%). This translates to an annualized profit of 7.6% over 18 years and sets a new record for the highest profit achieved at Villa Marina. The previous record was $1.58 million (219%) set in July 2022 when a 1,916 sq ft unit on the fourth floor was sold for $2.3 million ($1,200 psf). The unit had been purchased for $720,416 ($376 psf) in November 1998.Villa Marina is a 99-year leasehold development located at Jalan Sempadan in District 15. Completed in 1999, it comprises 27 low-rise residential blocks with a mix of one- to four-bedroom units ranging from 1,087 sq ft to 2,314 sq ft. The condo is situated near Siglap MRT station on the Thomson-East Coast Line, East Coast Park, and several primary schools such as Bedok Green Primary School, CHIJ (Katong) Primary, Ngee Ann Primary School, St Stephen’s School, and Tao Nan School.The most unprofitable resale transaction during the same period was recorded at Marina Bay Residences, with a loss of $386,000 (16%) suffered by the seller. The 1,130 sq ft two-bedroom unit on the 17th floor was sold for $2.1 million ($1,858 psf) on Jan 2, but had previously been purchased for $2.49 million ($2,200 psf) in November 2007. This translates to an annualized loss of 1% over 17 years. In comparison, Marina Bay Residences recorded 25 resale transactions in the previous year, with 13 resulting in losses ranging from $1.25 million to $43,600. Its most unprofitable transaction was in March 2024 when a 1,227 sq ft unit changed hands for $2.8 million ($2,282 psf).Marina Bay Residences, a 428-unit development on Marina Boulevard, recently underwent a $5 million revamp from Jan 2022 to Sept 2023 to enhance its facilities and common spaces. It is one of two 99-year leasehold luxury condos in Marina Bay Financial Centre (MBFC), which also consists of three Grade-A office towers and the 221-unit Marina Bay Suites. According to EdgeProp Singapore, Marina Bay Residences had an average resale price of $2,242 psf last month, which is higher than surrounding condos such as The Sail @ Marina Bay ($2,052 psf), Marina Bay Suites ($1,917 psf), and Marina One Residences ($2,133 psf).…

Real estate giant City Developments announced that it had successfully divested assets amounting to more than $600 million last year, as part of its efforts to recycle capital. While this total was below the original target of $1 billion set for early 2024, the company has several other divestment deals in the pipeline.

Some of the completed divestments include the sale of Ransome’s Wharf site in London, the freehold 8-storey industrial building Cideco Industrial Complex in Singapore, and various strata units in Singapore’s Citilink Warehouse Complex, Cititech Industrial Building, Fortune Centre and Sunshine Plaza.

CDL-Frasers Property-Sekisui House recently launched The Orie in Toa Payoh at prices starting from $1.28 million (Photo: CDL)

Additionally, the company has entered into an agreement to sell the retail and office components of Hong Leong City Center (HLCC), a mixed-use development in Suzhou. The deal is expected to be completed in the current quarter.

According to CDL’s group CEO Sherman Kwek, the divestments reflect their efforts to accelerate their capital recycling initiatives. Despite challenging market conditions, he is pleased with the good momentum achieved and the company will continue to push forward with their divestment plans. Kwek adds that their aim is to optimize their capital management and strategically align their portfolio to maximize shareholder value.

As of Jan 16, CDL’s shares closed at $5.05, with a 0.2% decline for the day and a 20.97% decline over the past year.

Ultimately, purchasing a condominium in Singapore offers a multitude of benefits. These include a strong demand for properties, potential for significant growth in value, and attractive rental returns. However, it is crucial to carefully assess various factors such as location, financial considerations, government regulations, and market conditions before making such an investment. Through extensive research and seeking expert guidance, investors can make well-informed decisions and maximize their returns in Singapore’s ever-evolving real estate landscape. Whether you are a local investor looking to diversify your portfolio or a foreign buyer searching for a stable and lucrative investment opportunity, Singapore’s condos are a compelling choice. Additionally, websites like New Condo Launches can provide valuable insights and updates on the latest condo developments, making the investment process even more convenient and seamless.

Looking for Sunshine Plaza properties? Ask Buddy or compare price trends for Condo new sale vs EC new sale. Interested in renting a condo in District 7? Check out the latest listings. You can also compare the price trends of HDBs, Condos, and Landed properties in District 7, as well as view the top condo projects with the most unprofitable transactions.…

A well-appointed two-storey bungalow at 11 Whitley Road is currently on the market, with a tender guide price of $31.88 million. This freehold property boasts a spacious elevated site of 15,276.27 sq ft, which translates to an attractive guide price of $2,087 psf on the land area.

Originally built in 2016, this bungalow features a rear extension and a total of five bedrooms, three of which are en suite. The layout also includes two living rooms, two dining rooms, a generously-sized kitchen, and a helper’s room.

The government’s property cooling measures play a crucial role in determining the viability of condo investment in Singapore. To maintain a stable real estate market, the Singaporean government has implemented a range of measures over the years to discourage speculative buying. One such measure is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and individuals purchasing multiple properties. While these measures may affect the immediate profitability of Singapore condo investments, they ultimately contribute to the market’s long-term stability and create a safer investment environment. These factors make the addition of Singapore Condo a wise decision for potential investors.

According to Aric Lim, associate district director at Huttons Asia, the exclusive marketing agent for the property, the land parcel has the potential to be subdivided for the development of eight terraced houses. Each site could range from 1,614 sq ft to 2,389 sq ft, with a total gross floor area (GFA) of up to 21,528 sq ft (subject to land betterment charges).

Senior director of data analytics at Huttons Asia, Lee Sze Teck, notes that this is likely the largest plot of land available on Whitley Road. He also states that the asking price of $2,087 psf is highly competitive compared to recent transactions for new semi-detached houses on the same road, which have sold for more than $3,000 psf.

Conveniently located just 700m from the Novena MRT Station, the property is also in close proximity to popular shopping complexes such as Velocity at Novena Square, Square 2, and United Square, as well as Zhongshan Park.

The tender for this impressive bungalow at 11 Whitley Road will close on February 12th, giving potential buyers ample time to consider this rare opportunity.…

GuocoLand has received two green facilities from DBS Bank and Oversea-Chinese Banking Corporation, totaling $1.24 billion. The first facility is a $1.135 billion green loan for the refinancing of Guoco Midtown, while the second facility is a $105 million green loan for the refinancing of Midtown Bay.

The cityscape of Singapore is characterized by towering skyscrapers and cutting-edge infrastructure. Condominiums, typically situated in highly coveted locations, offer a fusion of opulence and practicality that appeals to locals and foreigners alike. These residences boast an array of top-notch facilities including swimming pools, fitness centers, and security measures, all contributing to a superior standard of living and making them all the more desirable for potential renters and buyers. For investors, these attractive features equate to advantageous rental returns and appreciation in property value over time. With the addition of Singapore Projects, the allure of these condominiums is further heightened.

According to the property developer, the $1.135 billion green facility is the largest green loan secured by GuocoLand to date. Both loans were raised under GuocoLand’s Green Finance Framework, bringing the total amount of green financing secured by the company to $5 billion.

GuocoLand’s Group CFO, Andrew Chew, commented, “This latest refinancing activity allows us to optimise our capital structure while staying true to our commitment to creating thoughtfully designed spaces that balance economic, environmental and social factors.”

The developer has a track record of incorporating sustainability into its projects, with previous green loans secured for developments such as Guoco Tower and Lentor Mansion. Its upcoming Upper Thomson Road Development is also expected to receive financing under GuocoLand’s Green Finance Framework.

On the stock market, GuocoLand’s shares closed flat at $1.45 on January 15. The developer’s Porsche Singapore Studio, located at Guoco Midtown, recently opened a new duplex showroom. Additionally, public relations firm Publicis Groupe has leased 55,000 sq ft of office space at the Guoco Midtown office tower, showcasing the potential of the development as a prime location for businesses.…

Roxy Square, a freehold mixed-use development situated in Katong, is gearing up for collective sale with the help of marketing agent JLL, according to a press release. The development includes 296 shops, 26 apartments, and the 576-room Grand Mercure Roxy Hotel, and was initially launched for tender last July at a minimum price of $1.25 billion. However, due to the current market conditions, owners are in the process of signing a supplemental agreement to lower the collective sale price by 10.8% to $1.115 billion, requiring the support of at least 80% of the owners.

The development is expected to yield a unit land rate of $1,852 per square foot per plot ratio (psf ppr) under the new price, which includes a Land Betterment Charge (LBC) at the gross plot ratio of approximately 3.86. Accounting for an additional 10% bonus gross floor area (GFA) for the residential component and the LBC, the land rate would be $1,804 psf ppr, according to JLL.

Tan Hong Boon, JLL Singapore’s executive director of capital markets, says that the current private residential market in Katong has strong underlying support. Recent launches like Meyer Blue and Emerald of Katong have shown impressive sales, instilling confidence in developers for Roxy Square’s potential. He also states that the development’s appeal is further enhanced by its prime location next to Marine Parade MRT Station (Thomson-East Coast Line), with a direct underground connection. Additionally, the freehold tenure, well-loved heritage locale, and excellent connectivity to amenities make it a highly desirable site.

Completed in 1996, Roxy Square has a gross floor area (GFA) of 668,000 sq ft. Under the 2019 Master Plan, the development is partially zoned for commercial and residential use, with a gross plot ratio of 3.0 along East Coast Road. The portion of the development that fronts Marine Parade Road is zoned for hotel use. JLL received recent planning advice from the URA, stating that the entire site can be rezoned for commercial and residential use and redeveloped into a high-rise mixed-use development with a height of up to 75m.

According to JLL, redeveloping the site could potentially yield over 350 residential units, approximately 80,000 sq ft of retail and F&B space, and an additional 172,000 sq ft for office, hotel, or other commercial uses. The development also offers accessibility to East Coast Parkway (ECP) and Nicoll Highway and forms part of the Round-Island Route and Park Connector Network.

Tan adds that the proposed reduction in reserve price, if supported by the majority owners, will enhance the site’s appeal, especially considering the consistent demand for quality residences in the area. This collective sale aims to thoughtfully shape a vital part of Singapore’s East Coast for the future.

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Condo investment in Singapore holds considerable weight, given the government’s implementation of property cooling measures. Singapore’s leadership has continuously introduced policies aimed at deterring speculative buying and promoting a steady real estate market. The measures, such as the Additional Buyer’s Stamp Duty (ABSD), impose higher taxes on foreign buyers and individuals purchasing multiple properties. Although these measures may initially affect the profitability of condo investments, they also contribute to the market’s long-term stability, creating a secure investment environment. Additionally, Condos remain a solid option for investment in Singapore’s real estate market.

The tender for Roxy Square closes on Feb 18 at 3pm.…

The highly anticipated Arcady at Boon Keng, a freehold condominium with 172 units, is set to become a prominent landmark in the heart of Boon Keng when it is completed in 2027. Developed by trusted local companies KSH Holdings, SLB Development, and H10 Holdings, and designed by the award-winning firm Park + Associates, the project will feature modern architecture that will make it stand out in the neighborhood.

The project, which was launched for sale in January, has received a positive response from investors and local buyers. The one-bedroom plus study units and two-bedroom units, which offer efficient layouts, have been particularly well-received. Families have also been drawn to the spacious units and the abundance of family-friendly amenities.

The Arcady at Boon Keng presents an opportunity for discerning buyers to invest in an affordable freehold development in a city-fringe location. It is one of only a few new freehold projects launching this year.

A Garden Oasis

The developers and designers of The Arcady at Boon Keng have intentionally created an urban oasis in this bustling city-fringe neighborhood. This is achieved through a bold architectural form that is integrated into a carefully curated landscape design.

Designed by Park + Associates and Ecoplan Asia, the landscape architect, the development showcases a tiered design that leads from the Grand Arrival to the ground floor landscape deck. This unique design maximizes the green space available while creating a central zone of communal facilities across two floors at the base of the tower, instead of three floors like most developments. This efficient use of space is also evident in other areas of the development, such as the 14th floor and the rooftop terrace.

The Arcady at Boon Keng offers a variety of water facilities, including an infinity pool, spa pool, and family pool. The second-storey Sky Terrace also overlooks these facilities. The development also features a Social Deck for parents to relax while watching their children play at the nearby Kids Playground. The Splash Patio and Family Pool on the Family Deck provide a perfect weekend getaway for families to enjoy together. Additionally, there is a dedicated Kids Zone on the second-storey Sky Terrace, complete with a Party Deck and Kids Club. The Botanic Club is adjacent to the Chill Out Lounge, providing a relaxing outdoor space for residents.

The Arcady at Boon Keng is a rare single-tower condo in Singapore, especially in the Boon Keng area, to offer a range of outdoor and indoor facilities for residents of all ages and lifestyles. With 47 condo facilities spanning 4,000 sq m, there is something for everyone in this development.

Stunning Views from the Heart of Boon Keng

The orientation of the residential tower and units has been carefully considered, resulting in a north-south orientation that is elevated about 18m above street level to maximize views. Additionally, the units are tilted away from the main road, reducing noise from traffic. Higher floors will offer unobstructed views of the Kallang River, while south-facing units will have a view of Marina Bay.

Investing in condos in Singapore comes with a significant consideration – the government’s property cooling measures. To maintain a stable real estate market, the Singaporean government has implemented several measures over the years to combat speculative buying. One of these measures is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreigners and individuals purchasing multiple properties. Although these measures may affect the immediate profitability of Singapore condos, they also contribute to the overall long-term stability of the market, making it a secure investment environment.

Family-Oriented Unit Layouts

The Arcady at Boon Keng offers efficiently designed units that cater to the needs of families. All master bedrooms are spacious enough to fit a king-sized bed, while the common bedrooms can easily accommodate a queen-sized bed. The development has seen strong sales of its larger units, such as the three-bedroom units (969 sq ft), three-bedroom plus study units (1,281 sq ft), and four-bedroom units (1,410 sq ft). There are also two penthouses (2,433 sq ft and 2,583 sq ft).

Families with school-going children and couples will find that the development meets their needs perfectly. The location is near several reputable schools, including Bendemeer Primary School, Bendemeer Secondary School, St Andrew’s Junior School, and Hong Wen School. There are also plenty of amenities in the surrounding area, with the upcoming Woodleigh Mall at Bidadari Park Drive and Bendemeer Mall along Bendemeer Road.

A Convenient and Affordable Option

The Arcady at Boon Keng is a rare freehold development in a central location and offers easy access to major expressways like the CTE and PIE. Its proximity to the rejuvenated Kallang precinct, which will soon be transformed into a major sports hub, is another plus point.

Additionally, with an average selling price of about $2,570 psf, this project offers competitive pricing relative to similar developments in the area. This is further enhanced by its freehold tenure, making The Arcady at Boon Keng an attractive option for buyers and investors looking for a good long-term investment.

Given its excellent location, connectivity, and family-friendly amenities, The Arcady at Boon Keng is a highly sought-after property. The sales gallery, located next to City Square Mall, is currently open for viewing. Interested buyers can contact the developers’ appointed marketing agencies or visit their website for more information.…

Assessing the rental yield is a crucial aspect of investing in a condo. It refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, condo rental yields can greatly differ based on several factors like location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, tend to offer a higher rental yield. To gain a better understanding of the rental potential of a specific condo, it is vital to conduct comprehensive market research and seek advice from knowledgeable real estate agents. If you want to learn more about condos in Singapore, visit Condo for more information.

The popular mixed-use development known as Lucky Plaza, located on the bustling Orchard Road, currently has a portfolio of strata retail units up for sale. These units, ranging from 118 to 3,046 sq ft, are being marketed by Savills Singapore for a total of $52.6 million.The 14 retail units, which are spread across the basement and first two levels of the mall, boast a total strata area of 7,266 sq ft. One of the standout features included in this sale is a food court that spans seven adjoining units, totaling 3,046 sq ft and currently housing 11 stalls. The remaining units are currently tenanted to a diverse mix of businesses including a pub, retail shops, beauty service providers, and a maid agency.According to Sophia Lim, director of investment sales and capital markets at Savills Singapore, these retail units are expected to benefit greatly from the high foot traffic that Lucky Plaza receives on a daily basis. In particular, the basement food court is constantly bustling with crowds. The guide price for the food court is set at $25.43 million, while the entire portfolio is being offered at an asking price of $52.6 million.Individual strata retail units are also available for purchase, with prices starting at $1.1 million. Both foreigners and companies are eligible to make purchases, and no additional buyer’s or seller’s stamp duty will be imposed. Lim believes that prime strata freehold retail assets are highly coveted among investors due to their scarcity, and the Urban Redevelopment Authority’s (URA) prohibition on further strata subdivision of commercial properties along Orchard Road. She also anticipates that URA’s planned revitalisation of the Orchard precinct will lead to further rental growth and capital appreciation for Lucky Plaza.Strata retail units at Lucky Plaza are prime investments due to their desirable location and limited supply. Interested parties are encouraged to make their move before these units are snapped up.…

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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