The decision to invest in a condo in Singapore is increasingly favored by both local and foreign investors, drawn to the country’s strong economy, stable political climate, and high quality of life. The real estate market in Singapore presents a wealth of opportunities, with condos standing out for their attractive combination of convenience, amenities, and potential for lucrative returns. In this article, we will delve into the advantages, factors to consider, and important steps to take when looking to invest in a condominium in Singapore from the expertise of Condo property professionals.
The tender for Media Circle (Parcel A), a 99-year leasehold site located in Singapore’s one-north area, closed on March 4. The top bid of $315 million was submitted by a consortium of Qingjian Realty, Forsea Holdings, and minority investor Hoovasun Holding. The bid translates to a land rate of $1,037 psf per plot ratio (ppr) for the 82,125 sq ft site, which can potentially yield about 325 housing units and commercial spaces on level 1. Qingjian and Forsea say that the future development will feature two high-rise residential towers. The site received a total of three bids, with the Qingjian-Forsea consortium’s bid being 5.7% higher than the next bid. The partners paid a lower land rate for a neighbouring Media Circle GLS plot, which is now the site of the upcoming Bloomsbury Residences. However, the developers express their confidence in the area’s transformation and government’s continued investment in one-north precinct. The future project at Media Circle (Parcel A) will be the third joint venture between Qingjian and Forsea. The Media Circle (Parcel A) site was launched for sale last November, together with Media Circle (Parcel B) on the Confirmed List of the 2H2024 GLS Programme. Another Media Circle site is available under the Reserve List of the 1H2025 GLS Programme. According to market experts, the Media Circle area offers potential for a high-priced project due to its unique location, proximity to greenery and commercial areas, and strong pool of quality tenants. They suggest that the future project could launch with selling prices starting from $2,300 psf.