Investor sentiments in the Asia Pacific (Apac) hotel sector are expected to remain strong in 2025, as revealed in a recent survey conducted by CBRE. The 2025 Asia Pacific Hotel Investor Intentions Survey showed that over 72% of hotel investors surveyed in November and December last year plan to increase their hotel asset acquisitions this year. Out of this, 45% indicated their plans to increase their purchasing volume by more than 10%.

Steve Carroll, the head of hotels, capital markets, Asia Pacific at CBRE, stated that the investors expect hotel and living assets in Apac to have optimistic pricing expectations in 2025, following their strong performance in the past 18 months. This positive sentiment is fueled by the rebound in tourist arrivals in countries such as Japan, Singapore, and Australia. The increase in international arrivals has pushed up hotel room rates in Apac, leading to income growth for hotel operators.

The survey also found that the limited hotel supply in Apac is a major factor in driving investment activity. According to hospitality data intelligence group STR, the hotel supply pipeline in Apac is projected to grow at a CAGR of 2.2% between 2024 and 2028, a significant decrease from the 5% CAGR recorded between 2013 and 2023.

Among the different types of investors, REITs showed the highest net buying intentions at 22%, a significant improvement from last year’s -13%. This indicates a shift from recent years when REITs had negative investment intentions. Institutional investors and property funds followed closely, with 12% and 10% net buying intentions, respectively. Private equity and real estate funds are also expected to be highly active in the Apac hotel sector in 2025.

However, private investors and high-net-worth individuals are expected to drive fewer hotel acquisitions this year. This can be attributed to their increased selling activity as they seek to capitalize on the positive market sentiment following their acquisitions during the previous period of price dislocation.

The scarcity of land in Singapore has caused a surge in demand for condos, making them a hot commodity in the real estate market. The small island nation is facing a rapid population growth, leaving limited space for development. This has resulted in strict land use regulations and a fiercely competitive property market, driving up prices consistently. In this landscape, investing in real estate, specifically condos, has become a highly profitable venture with the potential for significant capital appreciation. To explore the latest condos in Singapore, visit Singapore Projects.

Investors are also favoring the upscale and upper midscale hotel categories, primarily due to their operational flexibility and potential for value-added opportunities. This includes the redevelopment, adaptive reuse, and rebranding of existing properties, which offer a less costly alternative to new developments. These categories also have a leaner labor pool, reducing labor and cost pressures.

There is also a growing trend towards long-stay or hybrid hospitality models, such as co-living spaces. This is particularly evident in countries like Japan, Hong Kong, and Singapore, where there is high demand for cost-effective accommodation due to inflexible rental markets. Other emerging trends include a preference for assets with vacant possession, allowing for more flexibility in terms of operator selection and refurbishment works, and a higher interest in limited-service hotels to minimize operational costs.

In terms of preferred investment destinations, Tokyo retained its top spot, followed by Osaka, Singapore, Sydney and Seoul. CBRE attributes this to low interest rates, stable income streams, and solid hotel fundamentals, including growth in daily rates and underlying operating profits. In particular, Seoul has seen an increase in investor activity due to the influx of visitors from mainland China and the consequent rise in daily rates.

Overall, the Apac hotel sector is expected to remain a favorable investment market in 2025, driven by positive market conditions and favorable investment strategies.…

ETC and OrangeTee Group have announced a merger, forming a new holding company whose name is yet to be announced. The joint press release was made on Feb 24.

Desmond Sim, CEO of ETC, stated that this is not an acquisition, but a coming together of minds in the merger. Sim will continue to be the CEO of ETC and also serve as group CEO of the combined entity. Justin Quek, CEO of OrangeTee & Tie, will become the deputy group CEO of the new holding company.

Post-merger, ETC will focus mainly on consultancy and advisory services, while OrangeTee will concentrate on proptech and its real estate agency business. This will be supported by a network of 2,803 salespersons registered with the Council for Estate Agencies as of Feb 24.

The combined company will have a total of over 520 staff and 2,803 salespersons. With the merging of expertise, resources and networks, the company aims to drive growth, create value for stakeholders and achieve the necessary scale to succeed in today’s ever-changing real estate landscape.

This merger builds upon the joint venture between the former Edmund Tie and OrangeTee in August 2017, when they merged their associates’ business under the new entity, OrangeTee & Tie. This venture contributed to OrangeTee & Tie becoming one of the top three agencies in Singapore with a sales force of over 4,000 agents. Following this, the former Edmund Tie took a 20% stake in OrangeTee & Tie.

Triplestar Holdings and TH Investments, owned by the family of Roland Ng (managing director and group CEO of Tat Hong Holdings), facilitated the merger between ETC and OrangeTee. They acquired a stake in ETC after a management buyout of the firm in 2016. When some of the original shareholders retired, the company repurchased their shares, increasing Triplestar and TH Investments’ stake to about 60%. Currently, the two entities hold a 100% stake in ETC.

This year marks ETC’s 30th anniversary, a significant milestone for the company, according to Sim. In the same way, OrangeTee Group, incorporated in 2000, is also celebrating its 25th anniversary this year. It is an investment holding company led by the board of directors and the C-suites, including Quek, CEO of OrangeTee & Tie; Marcus Oh, managing director of OrangeTee Advisory; Teo Yak Huat, CFO; and Christine Sun, chief researcher and strategist.

Quek mentions that they have a stronger brokerage and consultancy team backed by advanced proptech, allowing them to scale their capabilities and deliver innovative, seamless solutions across all real estate sectors.

Stakeholders in OrangeTee Group include Tokyu Livable Inc., which acquired a 22.5% stake in 2014. This company is one of Japan’s biggest real estate agencies, with 198 offices nationwide. It is a subsidiary of Tokyu Fudosan Holdings, the real estate arm of giant conglomerate Tokyu Group.

Vogue Capital Group, a private property fund, is also a shareholder of OrangeTee Group. Both Vogue Capital and Tokyu Livable will hold a stake in the new holding company post-merger with Ng’s Triplestar Holdings and TH Investments.

Singapore’s cityscape is characterized by towering skyscrapers and sophisticated infrastructure. Condominiums, strategically situated in desirable locations, offer a fusion of opulence and convenience that appeals to both locals and foreigners. These residential complexes are outfitted with an array of top-notch facilities like swimming pools, fitness centers, and round-the-clock security services, elevating the standard of living and making them a sought-after option for potential renters and buyers. In terms of investment, these enticing features result in higher rental returns and appreciating property values in the long run. Moreover, with the addition of new condo launches, prospective buyers and investors have even more options to choose from in the ever-evolving landscape of Singapore.

Last year, ETC established an office in Johor Bahru through its Malaysia-based joint venture company, Nawawi Tie. The company already has a presence in Penang and Malaysia. It also has an associate company in Thailand, Edmund Tie & Co (Thailand).

Sim believes that this merger will create more opportunities for the company in the ASEAN region and Japan, especially through the relationship with Tokyu Livable.…

Joint developers UOL Group and CapitaLand Development (CLD) have announced the successful launch of ParkTown Residence in Tampines North, with a total of 1,041 units being sold during the launch weekend. This accounts for over 87% of the total 1,193 units available.

According to Anson Lim, UOL’s general manager of residential marketing, the project achieved an average selling price of $2,360 per square foot (psf). The majority of buyers were Singaporeans looking to purchase a home or investors seeking a profitable opportunity.

The most popular unit types at ParkTown Residence were the two-bedroom and three-bedroom apartments, making up 994 units (83%) of the project. These units saw a remarkable 92% take-up rate over the launch weekend.

The success of ParkTown Residence can be attributed to its unique status as a fully integrated residential and lifestyle development. It is directly connected to a retail mall, the future Tampines North MRT station, a bus interchange, a green boulevard, a community club, and a hawker centre. This convenient and connected living concept was a major draw for buyers, according to a spokesperson for UOL and CLD.

Before its official launch, ParkTown Residence already had 2,367 cheques collected, translating to a sales conversion rate of 44%. This is well above the average rate of 30% to 35% for most new project launches in recent years.

Mark Yip, CEO of Huttons Asia, notes that no mega project has sold more than 1,000 units in its launch weekend since High Park Residences, which sold 1,100 units over three days in July 2015.

ParkTown Residence at Tampines 62 is part of the first mixed-use development integrated with transport hub at Tampines (Source: EdgeProp Landlens)

Since then, ParkTown Residence has moved the most units over a launch weekend, surpassing the 846-unit Emerald of Katong, which sold 835 units (99%) last November, according to Ismail Gafoor, CEO of PropNex.

Singapore is a highly sought-after location for condo investment, but it’s important to also consider the impact of the government’s property cooling measures. In order to maintain a stable real estate market, the Singaporean government has implemented various measures over the years to prevent speculative buying. One of these measures is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may affect the short-term profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a safer investment environment for Condo investments.

“The take-up at ParkTown Residence has also surpassed that of previous integrated developments,” adds Gafoor.

The latest integrated project to be launched was The Reserve Residences, a 732-unit development that recorded a 71% take-up rate during its launch weekend in May 2023. As of Feb 23, the project is 98.2% sold at an average price of $2,484 psf, based on caveats lodged.

Marcus Chu, CEO of ERA Singapore, believes that mixed-use developments integrated with transport hubs are attractive to both homebuyers and investors due to their potential for capital appreciation and high rental demand.

The last two fully integrated developments to be completed were the 920-unit North Park Residences in Yishun (launched in 2015) and the 680-unit Sengkang Grand (launched in 2019) at Buangkok. The average price of North Park Residence is $1,809 psf, 65% higher than the average resale prices of residential units across District 27. Meanwhile, Sengkang Grand commands an average price of $2,029 psf, 25% higher than the average resale prices in District 19, notes ERA’s Chu.

ParkTown Residence is located at Tampines Street 62, the third largest HDB town after Hougang and Woodlands. “Quite a number of buyers were HDB upgraders who desired to stay in Tampines,” says Huttons’ Yip.

The completion of ParkTown Residence in 2030 coincides with the scheduled opening of the Tampines North MRT Station on the Cross Island Line (CRL), a major arterial line running from East to West of Singapore, says Ken Low, managing partner of SRI. 2030 is also the scheduled relocation of the neighbouring Paya Lebar Airbase, which will free up an estimated 800ha of land for future developments.

Under the URA Master Plan, three more government land sales (GLS) sites will be linked to the upcoming Tampines North MRT Station. “However, these new projects could potentially be launched at higher prices,” says Low.

Tampines will also benefit from new infrastructure developments by 2027, including a cycling bridge, an underpass, and another 7.7km of cycling paths, bringing the total to 40km. There will also be a new pedestrian route between Tampines MRT Station and the malls in the regional centre. These additions were announced on Feb 22, as part of the Tampines Town Council’s five-year masterplan for 2025 to 2030.

“All these will enhance the liveability in Tampines, which already has strong attributes,” says SRI’s Low.…

Elta, a joint venture project by MCL Land and CSC Land Group, saw strong sales on Feb 22 with 326 out of 501 units sold at an average price of $2,537 psf. This translates to about 65% of the units sold. Majority of the buyers were Singaporeans, making up 90% of the buyers while the remaining 10% were permanent residents.

The most popular units among buyers were two-bedrooms, with 98% of the 179 units sold at prices starting from $1.388 million ($2,261 psf). Some 81% of the 108 three-bedrooms have also been taken up at prices starting from $2.198 million. The one-bedroom plus study units were also popular, with 78% snapped up from $1.158 million.

The three-bedrooms were popular among families, with the average household size being 3.1. Bigger or extended families purchased the four-bedroom units.

The project’s location near employment nodes such as the National University of Singapore (NUS), one-north, Pandan Loop Industrial Estate, the Science Park, Jurong LakeDistrict and the future Dover Knowledge District, as well as its proximity to Clementi MRT Station on the East-West Line and the upcoming Cross Island Line, attributed to the strong sales.

One of the advantages of investing in a condo is the opportunity to utilize the property’s value for future investments. This is a common practice among investors who use their condos as collateral to secure funds for new ventures, which ultimately helps grow their real estate portfolio. While this approach can potentially increase profits, it also carries a certain level of risk. It is imperative to have a solid financial strategy in place and carefully consider how market fluctuations may affect your investments. If you are interested in making a smart condo investment, it is important to thoroughly evaluate your options and make informed decisions.

With schools such as Nan Hua High School, NUS High School of Mathematics and Science, and Anglo-Chinese School (Independent) nearby, Elta is said to be situated in the educational belt. Tertiary institutions such as NUS, Singapore Polytechnic and United World College of South East Asia (Dover Campus) are also nearby.

Projects at Clementi Avenue 1 are popular with investors given the profile of tenants – primarily international students and professionals. Over 60% of the units sold were the one- and two-bedders at Elta.

The weekend of Feb 22-23 also saw the launch of the 1,193-unit ParkTown Residence, which moved 1,041 units. Collectively, Elta and ParkTown Residence sold more than 1,300 units, surpassing the 1,083 new homes sold for the entire month of January.

Huttons Data Analytics estimates developers’ sales in February to exceed 1,500 units. The total sales for the first two months of 2025 — estimated to be between 2,500 and 2,700 units — is equivalent to 39% of the total new sales of 6,469 units for the entire 2024. As such, Huttons is revising its full-year projection for 2025 to between 7,500 and 8,500 units from its earlier estimate of 7,000 to 8,000. Its full-year price growth for 2025 is between 4% and 7%.

Overall, the robust sales of Elta demonstrate buyers’ confidence in a development that offers modern living, convenience, and comfort. With its location and amenities, it is expected to remain a sought-after destination for both homeowners and investors.…

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.…