Month: December 2024

Projects in the Rest of Central Region (RCR) and Outside Central Region (OCR) took the lead in the list of best-selling new launches in 2024, driven by strong upgrader demand and a robust HDB resale market, as per Mark Yip, CEO of Huttons Asia.

Three out of the top 10 best-selling projects were launched in November. The first spot was claimed by Emerald of Katong, which sold 99% of its units within two days, from November 15 to 16, making it the best-selling project of 2024. With only six available units as of December 17, this 846-unit, 99-year leasehold development located in Katong is almost completely sold out. You can find the latest new launches and access information on transaction prices and available units by conducting a search.

Second on the list is Chuan Park, with 696 units (76%) sold in a single day on November 10. As of December 17, the project has sold 79% of its total 916 units. This impressive result can be attributed to the lack of new condo launches in the area since The Scala in 2010.

In third place is Lentor Mansion, with 75% of its 533 units sold during its launch weekend in March. After nine months, the project has sold 92% of its units.

The fourth spot goes to Nava Grove, a 552-unit development that achieved a 65% take-up rate during its launch weekend in mid-November. As of December 17, the project has sold almost 70% of its total units.

Norwood Grand, with 291 out of its 348 units (84%) sold since its launch in October, takes fifth place.

Hillhaven, a 341-unit development that debuted in January, takes sixth place. The project sold 50 units during its launch and has since seen a steady rise in sales. With 259 units (76%) sold as of December 17, it now ranks sixth on the list.

Kassia on Flora Drive, a freehold development with 276 units, claims seventh place with 180 units (65%) sold to date.

In eighth place is Lentoria, a 267-unit development located in Lentor Hills Estate. The project saw its sales increase from 19% on its first weekend in March to 66%, with 177 units sold as of December 17.

The 440-unit Sora, located at Yuan Ching Road in Jurong Lake District, is in ninth place with 134 sales (30%).

Finally, rounding out the top 10 is Meyer Blue, a freehold development with 226 units, which sold 131 units (58%) through private sales.

In summary, there are many benefits to investing in a condo in Singapore, such as strong demand, potential for appreciation in value, and attractive rental yields. However, it is crucial to carefully consider various factors like location, financing options, government regulations, and overall market conditions. By conducting thorough research and seeking professional guidance, investors can make well-informed decisions and maximize their returns in Singapore’s dynamic real estate market. Whether you are a local investor looking to diversify your portfolio or a foreign purchaser seeking a stable and profitable investment, buying a condo in Singapore through projects like Singapore Projects presents an appealing opportunity.

Four projects launched in 2023 gained significant traction from the sales momentum in the second half of 2024, each selling more than 200 units. These projects benefited from the launch of new developments in their respective neighbourhoods, which brought attention back to the area.

The Continuum, an 816-unit freehold development at Thiam Siew Avenue, emerged as the biggest beneficiary of Emerald of Katong’s launch, selling 233 units in 2024. Almost 60% of these sales occurred after November, bringing its total take-up rate to 66% since its launch in May 2023.

Tembusu Grand, located across the road from Emerald of Katong, also benefited from its proximity to the development. The 638-unit project sold 53% of its units during its launch weekend in April 2023. It sold 204 units this year, with most of the sales occurring after July when market sentiment improved in the third quarter of 2024. Tembusu Grand is currently 91% sold as of December 17, thanks to the buzz surrounding Emerald of Katong.

Hillock Green, a 474-unit development in Lentor Hills Estate, also performed well. Initially launched in November 2023, the project achieved a take-up rate of 27.6% in its first weekend of sales. In 2024, Hillock Green sold 217 units, bringing its total sales to 359 (76%). The project benefited from the launches of Lentoria and Lentor Mansion in March, which brought renewed attention to the Lentor Hills Estate.

Finally, the 520-unit Pinetree Hill saw strong sales after the release of its second phase of units in September. The project sold 208 units this year, bringing its cumulative sales to 374 (72%). It also saw a significant boost from the launch of Nava Grove in November, which helped generate interest in the residential enclave in District 21.…

As we approach the year 2025, the landscape of Singapore’s built environment is set to undergo significant transformation. The facilities management (FM) sector, in particular, is facing increasing pressure to adapt to changing regulatory demands, rising costs, and technological advancements. In shaping the future of FM and promoting sustainability, three key drivers will play a crucial role: the mandatory energy improvement regime, the impact of increasing temperatures on energy costs, and the growing trend towards adaptive reuse in construction.

The Mandatory Energy Improvement regime, set to come into effect in the third quarter of 2025, will require existing energy-intensive buildings to undergo energy audits and implement energy-efficiency improvement measures. This mandate will impact commercial, healthcare, institutional, civic, community, and educational buildings with a gross floor area exceeding 5,000 sq m. These buildings will be required to reduce their energy usage intensity by 10% from pre-energy audit levels – a target that can be achieved by implementing the right strategies.

To cope with this new regime, asset owners are encouraged to take a medium to long-term view on capital expenditure-heavy investments in energy-efficient systems. The energy audits will provide valuable insights into energy consumption patterns, identify areas for improvement, and guide asset owners in prolonging the lifespan of their assets, reducing operating costs in the long run, and contributing to a more sustainable built environment. Financial assistance in the form of grants is available to help cover the costs of energy efficiency upgrades.

An excellent example of a smart and sustainable campus is Temasek Polytechnic, which embarked on a digital transformation journey in 2021. By implementing a suite of solutions that digitised campus operations, including facility booking, automated repairs and maintenance, crowd management, and temperature control, Temasek Polytechnic offers valuable insights into the future of smart and sustainable FM. A central data environment monitors and tracks data generated by these systems, allowing campus operations teams to make informed decisions on maintaining the health of building operational systems, maximising the return on investment, and reducing operational carbon levels.

Another catalyst for sustainability in the FM sector is the mandatory climate disclosure obligations for all listed and large non-listed companies with annual revenues of at least $1 billion and total assets of at least $500 million by 2027.

As temperatures are expected to rise in 2025, the demand for cooling in buildings will increase, prompting further investments in predictive technology. Air conditioning and mechanical ventilation (ACMV) systems are already a significant contributor to operational costs, accounting for around 60% of total energy expenses in most buildings. To optimise energy systems and mitigate rising energy costs, building owners can implement energy-efficient solutions such as energy recovery systems or thermal energy storage. Additionally, optimising chiller plant operations to match changing weather conditions can reduce energy waste and costs.

At a city and precinct level, extreme weather events like flooding and urban heat pose a threat to the health and performance of critical infrastructure. To address these risks, building owners and city planners can take advantage of advances in web-based geospatial IT to identify flood-prone areas and spaces with high heat exposure. By predicting extreme weather events, they can develop comprehensive operational plans to mitigate the risk of equipment failure and downtime and optimise chiller plant operations.

The rising cost of construction is another driving force behind the growing trend towards adaptive reuse, with the rate of redevelopment in Singapore increasing over the past five years. According to Surbana Jurong (SJ), mechanical and electrical costs have increased by approximately 30% compared to pre-Covid levels, mainly due to a 77% increase in logistics costs, a 9% increase in labour costs, and a 15% increase in construction material prices. This trend is driving the adoption of smart design and engineering practices, such as using collaborative common data environments to benchmark construction and operational costs.

The Singaporean government’s property cooling measures hold great weight when contemplating condo investment in the country. These measures have been implemented over the years to control speculative buying and maintain a steady real estate market. One of the measures is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign investors and those purchasing multiple properties. While these measures may have a temporary effect on the profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a secure investment environment. Thus, considering condo investment in Singapore involves taking into account the government’s property cooling measures.

Platforms that support integrated digital delivery, such as Podium, enable real estate developers and contractors to gain real-time insights into key performance indicators like time, cost, quality, and safety. By connecting developers, designers, and the supply chain, these proptech platforms aim to deliver high construction productivity and promote sustainable building practices. By consolidating data from multiple sources, all stakeholders involved in the building cycle can access valuable information to reduce embodied carbon levels. The data can also aid in deciding between redevelopment and adaptive reuse by providing essential details on structural frames and foundations.

Post-construction, Podium can integrate with other operational platforms to track building performance metrics like energy, waste, water, indoor air quality, and occupancy trends, driving operational carbon reduction goals. The majority of operational expenditure for buildings goes towards the utility cost of ACMV chiller plants, making up about 60% of total operational expenditure. Smart buildings that leverage data-driven long-term life cycle approaches can maximise the lifespan of capital expenditure-heavy equipment, including ACMVs, lifts, and air handling units. By utilising sensors, AI-powered smart monitoring systems, and predictive maintenance techniques to track equipment performance and identify potential issues, building owners can reduce downtime, improve efficiency, and make informed decisions on retrofits or replacements.

In conclusion, the FM sector in Singapore is on the cusp of significant transformation driven by three key factors: the mandatory energy improvement regime, the impact of increasing temperatures on energy costs, and the trend towards adaptive reuse in construction. By embracing digitalisation, data analytics, and sustainable practices, the FM sector can drive sustainability, reduce costs, and ensure long-term operational success.…

continues as pandemic drags onRenewed interest in city-fringe projects continues as pandemic drags on

Investing in a Singapore condo has become a favored option for both local and foreign investors, thanks to the country’s thriving economy, political stability, and excellent standard of living. The real estate market in Singapore is teeming with opportunities, and condos are a standout choice due to their convenient location, impressive amenities, and potential for high returns. In this article, we will delve deeper into the advantages, factors to consider, and necessary steps when investing in a condo in Singapore through Singapore Condo.

The freehold condominium, The Meyerise, has taken the top spot among private condos that saw a new peak psf price in the week of November 29th to December 6th. On the 6th of December, a three-bedroom unit on the 24th floor was sold for $3.52 million, achieving a new price peak of $2771 per square foot. This new record is just 0.25% higher than the previous peak of $2,764 psf achieved by the project last October when a four-bedroom unit on the 28th floor sold for around $5.03 million.

The previous owners of the unit sold on December 6th had purchased it for approximately $2.32 million in May 2016, making a profit of around $1.2 million over eight years. The Meyerise has seen nine units change hands this year at an average price of $2,405 psf. The most expensive unit sold at the development this year was a 4-bedroom-plus-study unit on the seventh floor, which sold for $4.5 million or $2,189 psf on October 7th.

The Meyerise is a freehold condominium with 239 units, completed in 2015. It is located on Meyer Road in prime District 15 and consists of twin 31-storey residential towers with two- and three-bedroom units ranging in size from 872 square feet to 1,313 square feet, four-bedroom units ranging from 1,819 square feet to 2,056 square feet, and a single 5,490 square foot penthouse unit.

The Meyerise is located within 1km of two MRT stations, namely Tanjong Katong MRT Station and Katong Park MRT Station, both serving the Thomson-East Coast Line. Several schools are also within 2km of the condo, including Kong Hwa School, Tanjong Katong Primary School, Tanjong Katong Girls’ School, and Tanjong Katong Secondary School.

The Imperial is a 187-unit freehold condominium located along Jalan Rumbia in prime District 9. It took second place among projects that recorded new psf-price highs during the period under review. On December 5th, a three-bedroom unit on the 14th floor sold for $3.7 million, achieving a new high price of $2,624 psf – 2.3% higher than the project’s previous peak of $2,566 psf set in May last year.

According to URA caveats, the unit that sold on December 5th last changed hands in September 2004 for about $1.3 million or $925 psf. As a result, the sellers made a profit of about $2.4 million.

The Imperial has recorded six resale transactions this year at an average price of $2,414 psf. Prior to the December 5th transaction, the most recent unit to change hands at The Imperial was a 1,905 sq ft 4-bedroom unit on the fifth floor that sold for approximately $4.6 million or $2,421 psf on November 28th.

The Imperial is a freehold condominium with 187 units completed in 2006, featuring two-bedroom units ranging in size from 980 square feet to 1,012 square feet, three-bedroom units ranging in size from 1,356 square feet to 1,991 square feet, and four-bedroom units ranging in size from 2,034 square feet to 3,552 square feet.

Sky Vue took third place during the period under review when it recorded a new peak psf price of $2,505. The new peak was achieved when a three-bedroom unit on the 33rd floor sold for about $2.86 million on December 2nd. The sellers had purchased the unit in September 2020 for $1.86 million or $1,630 psf, resulting in a profit of about $1 million.

The new psf price record is 5.9% higher than the previous peak of $2,366 psf set in August when a similar three-bedroom unit on the 14th floor was sold for $2.7 million.

Sky Vue is a 694-unit 99-year leasehold condominium completed in 2016 located along Bishan Street 15 in District 20. The development comprises two 37-storey towers with one- to three-bedroom units ranging in size from 484 square feet to 1,259 square feet.

Sky Vue is within walking distance of Bishan MRT Interchange, which serves the North-South and Circle Lines. The station is located directly across from Bishan Bus Interchange and connected to Junction 8 mall along Bishan Place, which offers an array of retail and dining options.

During the period under review, there were no new psf price lows recorded.…

Livestream viewings: Pros and cons of virtual home tours

A record-breaking sale has taken place at the luxurious condo, JadeScape, located on Shunfu Road with a 99-year leasehold. This six-bedroom penthouse unit was sold for $10.15 million on December 9th, making it the most profitable condo resale transaction during the week of December 3rd to 10th. The unit spans over 4,230 square feet and is situated on the 23rd floor, boasting a price of $2,399 per square foot.

The previous owner bought the unit directly from the developer in December 2019 for $5.8 million, which equates to a cost of $1,371 per square foot. This means the seller made a profit of $4.35 million after owning the unit for a mere five years, resulting in a 75% increase in capital gain. On an annual basis, the profit stands at 15%. This resale deal now holds the record for the highest profit made on a unit at JadeScape, surpassing the previous top gain of $1.14 million from the sale of a five-bedroom unit measuring 2,099 square feet on August 12th.

JadeScape, situated at the junction of Marymount Road and Shunfu Road in District 20, is a development that comprises 1,206 units spread over seven residential towers. The units range from one to five bedrooms and measure 527 square feet to 2,099 square feet, with two penthouses spanning 4,230 square feet. The development is scheduled for completion in 2022 and is within walking distance of Marymount MRT Station on the Circle Line.

Investing in a condo requires careful consideration of financing options. Singapore boasts a variety of mortgage choices, however, it is crucial to be well-informed about the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan that a borrower can take based on 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 ensure a wise financing decision. Avoiding over-leveraging is crucial in securing a successful investment. For more information on Singapore Projects, knowledgeable professionals can provide valuable insight.

In total, there have been 72 other resale transactions at JadeScape this year, with prices ranging from $1,955 per square foot to $2,420 per square foot. All of these deals resulted in profits for the sellers, with gains ranging from $55,000 to $1.15 million.

The second most profitable resale deal during the same week was the sale of a three-bedroom unit measuring 1,410 square feet at The Imperial for $3.7 million on December 5th. This equates to a price of $2,624 per square foot. The seller had originally purchased the unit from the developer for $1.3 million in September 2004, which amounts to $925 per square foot. As a result, the seller made a profit of $2.4 million after holding onto the property for 20 years, resulting in a 184% gain.

The Imperial, located on Jalan Rumbia in District 9, comprises 187 freehold units spread over five blocks. The units range from two to four bedrooms and measure between 980 square feet to 3,918 square feet. It is situated within walking distance of Fort Canning MRT Station on the Downtown Line and Dhoby Ghaut MRT Interchange, which serves the North-South, North-East, and Circle Lines.

The sale of a one-bedroom unit at The Montana was the least profitable condo resale deal during the same week. The unit, measuring 635 square feet, was sold for $1.02 million on December 6th, resulting in a price of $1,603 per square foot. The unit had previously been sold in July 2014 for $1.18 million, which amounts to $1,863 per square foot. This means the seller suffered a loss of approximately $165,000 on the transaction, making it the third-biggest loss recorded at The Montana based on available caveats.

The Montana, situated on Jalan Mutiara off River Valley Road in District 10, comprises 108 freehold units spread over a single 12-storey tower. The units range from one to four bedrooms and measure between 549 square feet to 2,659 square feet. There have been four other resale transactions at The Montana this year, all of which were profitable, resulting in gains of $80,000 to around $525,000.…

CLAR proposes to acquire DHL Indianapolis Logistics Centre for $150.3 mil; announces divestment of Jalan Buroh property

CapitaLand Ascendas REIT (CLAR) has recently announced its intention to acquire DHL Indianapolis Logistics Center, a top-quality logistics property in the USA, from Exel Inc. d/b/a DHL Supply Chain (DHL USA) for $150.3 million. This proposed acquisition is a strategic move that will not only strengthen CLAR’s portfolio but also boost its income stability and resilience. The property, which was independently valued at $156.7 million as at Jan 1, 2025, will be acquired at a 4.1% discount. The total acquisition cost, including fees and expenses, will be $153.4 million.

To fund this acquisition, the manager of CLAR intends to use a combination of internal resources, divestment proceeds, and/or existing debt facilities. The transaction is expected to be completed in 2022, and upon completion, DHL USA will enter into a long-term leaseback agreement for the entire property until December 2035, with options to renew for two additional five-year terms. This long lease term, combined with a built-in annual rent escalation of 3.5%, will provide a stable income stream for CLAR and improve the resilience of its portfolio.

The DHL Indianapolis Logistics Center is a fully occupied, single-storey logistics building with a gross floor area of 979,649 sq ft. It is located in Whiteland, a submarket in southeast Indianapolis, Indiana. This prime property is expected to increase the value of CLAR’s logistics assets under management (AUM) in the USA by 35.3% to approximately $587.5 million. With this acquisition, CLAR’s logistics footprint in the USA will expand to 20 properties, covering four cities and a total GFA of approximately 5.1 million sq ft.

William Tay, executive director and CEO of the manager, believes that this acquisition is a strategic fit for CLAR’s existing portfolio. He also states that this is CLAR’s first sale and leaseback acquisition in the USA, and it will increase the proportion of modern logistics assets in its portfolio to 42.3%. This property will further enhance CLAR’s resilient income stream and is expected to contribute positively to its long-term returns.

In addition to this latest acquisition in Indianapolis, CLAR’s logistics assets in the USA are situated in Kansas City, Chicago, and Charleston. The manager is confident that this acquisition, along with the divestment of the Jalan Buroh property, will further strengthen CLAR’s position as a leading logistics real estate investment trust in the region. The proposed acquisition is estimated to have a pro forma impact of approximately 0.019 Singapore cents on the distribution per unit (DPU) for the financial year ended Dec 31, 2023, representing a DPU accretion of 0.1%, assuming the acquisition was completed on Jan 1, 2023.

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The cityscape of Singapore is distinguishable by its towering skyscrapers and state-of-the-art facilities. These modern condos, strategically situated in desirable locations, offer a combination of opulence and convenience that appeals to both locals and foreigners. With a plethora of facilities like swimming pools, fitness centers, and top-notch security services, these condos provide a comfortable and enticing lifestyle for potential tenants and buyers. Additionally, investors can reap the benefits of higher rental returns and an increase in property value over time. Keep up-to-date with the latest developments by checking out New Condo Launches.…

Australia’s Wee Hur Holdings sells 7 PBSA assets to Greystar for $1.4 bil

Wee Hur Holdings has recently announced the sale of its portfolio of seven purpose-built student accommodation (PBSA) assets to Greystar. The transaction, which was made public on December 16, involves the sale of over 5,500 beds across several Australian cities for a purchase consideration of A$1.6 billion ($1.4 billion). Wee Hur will retain a 13% stake in the portfolio through its subsidiary, Wee Hur (Australia).

Investing in a condo in Singapore offers numerous advantages, with one of the most significant being the potential for impressive capital appreciation. As a major global business hub with a robust economy, Singapore has a consistent demand for real estate. This, along with its strategic location, has led to a consistent increase in property prices, particularly in prime areas. Savvy investors who enter the market at the right time and hold onto their condo for the long term can reap the benefits of considerable capital gains.

The group plans to use the net proceeds of approximately $320 million to support its strategic growth and reinvestment in the core business, as well as expansion into new areas such as alternative investments. The transaction is expected to be completed within the next six months, subject to Foreign Investment Review Board (FIRB) approvals for Greystar and consent from Wee Hur’s shareholders.

According to Wee Hur, the sale of its PBSA assets demonstrates the group’s resilience in navigating through challenging market conditions, including the impact of Covid-19 and greenfield developments. It also supports the group’s long-term strategy of diversifying its portfolio and positioning itself for sustainable growth across multiple sectors.

Goh Wee Ping, CEO of Wee Hur Capital, says that the group’s successful recapitalization with RECO in 2021/2022, amidst global uncertainty, has provided them with liquidity and certainty. The sale of the PBSA portfolio is yet another opportunity for the group to unlock maximum value for its stakeholders, he adds.

Wee Hur’s decision to sell its PBSA assets to Greystar comes after its successful foray into the sector in recent years. The group’s move towards alternative investments is in line with its efforts to diversify its portfolio and capitalize on emerging opportunities in the market. With this transaction, Wee Hur is well-positioned for sustainable growth and long-term success.…

On December 16, the joint venture developers Hoi Hup Realty and Sunway Developments successfully sold 137 units at the Novo Place executive condominium (EC) during the second round of balloting. This phase was exclusively open to second-timer buyers, individuals who have previously purchased a subsidized flat from the Housing and Development Board (HDB), either as a new flat or a resale flat.These 137 units represent 88.1% of the development, according to Mark Yip, CEO of Huttons Asia, bringing the total number of units sold at Novo Place to 444. Yip adds that this milestone was achieved within a month of its launch on November 16, making it the best-selling EC project of 2024.”This strong interest from second-timers reflects a desire to upgrade their lifestyle, with many buyers already residing in the West,” says Yip.Explore comprehensive data about all ECs, including the average profit at 5 and 10 years.AdvertisementYip also notes that all four-bedroom units at Novo Place have been sold out, highlighting the high demand for spacious homes. The showflat of a four-bedroom-plus-study unit at Novo Place, where all four-bedders have been sold, also supports this observation.Novo Place is located at Plantation Close in the new Tengah town, just a five-minute walk from Tengah Park MRT station on the Jurong Region Line (JRL). This provides convenient access to major employment hubs in the West such as the Jurong Lake District and Jurong Innovation District. Yip emphasizes that very few ECs offer such close proximity to an MRT station.Many buyers at Novo Place have also opted for the deferred payment scheme, allowing them to secure their desired unit and defer their home loan payments. According to Yip, this eases the financial burden for HDB upgraders who still have an outstanding loan on their current flat.Furthermore, due to their comparable quality and finishes to private condominiums but at a more affordable price, ECs are experiencing strong demand from HDB upgraders. Additionally, buyers at ECs enjoy upfront remission on the Additional Buyer’s Stamp Duty (ABSD).As of December 16, the average price of units sold at Novo Place is $1,656 per square foot. Data on the latest listings for Novo Place properties and the available units can also be found online.

The scarcity of land in Singapore is a major driving factor behind the widespread demand for condos in the country. As a small island nation experiencing rapid population growth, Singapore is facing limited land availability for development. This situation has resulted in strict land use policies and a competitive real estate market, where property prices continue to rise. As a result, investing in real estate, specifically in condos, has become a highly profitable venture, with the potential for significant capital appreciation. This trend is further amplified by the numerous Singapore projects that offer attractive opportunities for investors.…

According to data published by the Urban Redevelopment Authority (URA) on December 16th, developers sold a total of 2,557 new private homes in November. This figure represents a significant 246.5% increase from the 738 units sold in October and a 226% jump compared to the units sold in November 2023.

This surge marks the highest monthly developer sales since March 2013, when a total of 2,793 units (excluding ECs) were sold. Christine Sun, the chief researcher and strategist at OrangeTee Group, states that this is a result of the unprecedented number of project launches during the month. She adds that buyers were likely spurred to invest due to improved affordability of mortgages, which was a result of lower interest rates.

The five private residential projects launched in November were Chuan Park, Emerald of Katong, Nava Grove, The Collective at One Sophia, and Union Square Residences. These projects together accounted for a total of 2,871 new units being launched, marking a 438% increase from the previous month and a 196% increase compared to the same period last year.

In addition to these projects, the 504-unit Novo Place EC also commenced sales in November. Overall, the total number of new home sales surged by 277% month on month and 226% year on year to reach 2,891 units in November.

As of November, developers have sold an estimated 6,344 new units, which is marginally higher than the 6,317 units sold in the first 11 months of 2023. These sales were driven by the 6,627 units launched for sale by developers during that period, which was slightly lower than the 7,515 units launched in the same period last year.

In Singapore, the demand for condos remains high and one of the main contributing factors is the scarcity of land. As a small and densely populated nation, Singapore faces limited land availability for development. This has resulted in strict land use policies and a fiercely competitive real estate market, where property prices continue to rise. As a result, investing in real estate, specifically condos, has become a lucrative opportunity, with the potential for significant capital appreciation. With the addition of Singapore Projects, the demand for condos is expected to remain strong in the coming years.

Top-Selling Projects

Emerald of Katong, a 846-unit development by Sim Lian Group, was the best-selling project in November. The 99-year leasehold development is located in the Rest of Central Region (RCR) and saw 840 units being sold during the month at a median price of $2,627 psf. This makes it the best-selling project by units and percentage in 2024, according to Lee Sze Teck, senior director of data analytics at Huttons Asia.

Buyers were likely drawn to the project’s design and offerings, particularly those looking to live near the East Coast. Improved affordability of mortgages may also have incentivized buyers to invest in this city-fringe project, as lower interest rates have made mortgages more accessible, observes Sun.

Kingsford Group’s 916-unit Chuan Park, located on Lorong Chuan in the Outside Central Region (OCR), sold 721 units or 79% of its total units in November at a median price of $2,586 psf. This makes it the second best-selling project by number of units in that month.

Nava Grove, situated at Pine Grove in District 21, was the third best-selling project in November. Developed by MCL Land and Sinarmas Land, the 99-year leasehold development sold 382 units or 69% in November at a median price of $2,445 psf.

Sun believes the strong sales performance among new launches was fueled by pent-up demand and improved buyer sentiment following interest rate cuts in September. Lee adds that buying momentum has been gathering pace since the last quarter with robust response to project launches such as 8@BT and Norwood Grand. Demand was also redirected to the wider market as buyers who missed out on their choice unit in a particular project were prompted to quickly commit to a unit in other new or existing projects.

Emerald of Katong’s launch has also created a ripple effect on neighboring projects, such as Tembusu Grand and The Continuum, with an uptick in take-up. Looking ahead, a more muted December is anticipated due to the festive season, with only a couple of new launches planned.

However, SRI’s Mohan Sandrasegeran expects new home sales to regain momentum in January 2025 with the launch of The Orie by City Developments on Lorong 1 Toa Payoh. He adds that other launches expected in the first quarter of 2025 include Bagnall Haus, Aurea, and Aurelle of Tampines EC.

Sun believes the recent surge in sales is a temporary phenomenon, and she is cautiously optimistic of a better performance in the new sale market in 2025. Lee is projecting new private home sales to rebound to between 7,000 and 8,000 units in 2025, while prices are estimated to grow between 4% and 7%. Ultimately, the market will be driven by unsatisfied demand from 2024, which will flow over to the launches in 1Q2025.…

Rewritten: Condo investment has become a favored option for both local and foreign investors in Singapore, thanks to the country’s strong economy, stable political climate, and exceptional quality of life. The Singapore real estate market presents a wealth of opportunities, with condos being a popular choice for their convenience, amenities, and potential for lucrative returns. In this article, we will delve into the advantages, factors to keep in mind, and necessary steps for investing in a condo in Singapore. With its promising condo market, Singapore is truly a prime destination for property investment.

Hilton, a global hospitality giant, has recently opened its latest property in Beihai, China – the Hilton Garden Inn Beihai Jiafu. This marks a significant milestone for the company as it is their 100th Hilton Garden Inn in Greater China. The hotel, which boasts 199 rooms, is strategically located just 2 km away from Beihai High-Speed Railway Station and 6 km from Beihai Fucheng Airport. It also offers easy access to Beihai International Passenger Port, which is a mere 20-minute drive away.

Qian Jin, President of Hilton Greater China and Mongolia, expressed his excitement about this launch in a recent press release. He stated that the opening of Beihai Jiafu Hilton Garden Inn not only showcases the brand’s rapid growth, but also reaffirms their long-term commitment to the Chinese market. This sentiment is echoed by the fact that Hilton’s first Hilton Garden Inn in China was launched in Shenzhen in 2014, and since then, the brand has expanded to include Shanghai, Beijing, Chengdu, Guilin, and Aksu. In the coming years, Hilton Garden Inn plans to open more properties in popular tourist destinations like Zhangjiajie, Ordos, Huangshan, Shanwei, and Jinan.

Moreover, Hilton is also planning to introduce its new Hilton Garden Inn Gen A properties in China. This regional prototype is specifically designed to cater to the needs of Generation Alpha travelers in Greater China. In June, Hilton announced the launch of Hilton Garden Inn Gen A, with initial locations planned in Nanjing, Chengdu, Chengde, and Jinan. With this new offering, Hilton aims to further strengthen its position in the Asia Pacific region and enhance its appeal to a wider audience.

The company’s Senior Vice President of Development for Asia Pacific, Clarence Tan, has revealed that Hilton has over 200 Hilton Garden Inn properties in the pipeline in the region. These upcoming launches will contribute significantly to the brand’s expansion across the wider Asia Pacific region. Hilton is determined to double its mid-market presence in the region and aims to have over 1,000 hotels by 2025.…

CapitaLand Investment Limited (CLI) is expanding its presence in Australia with the recent acquisition of Wingate Group Holdings’ property and corporate credit investment management business for A$200 million ($173 million). This acquisition will also bring in an additional A$2.5 billion in funds under management (FUM) for CLI, increasing its total FUM in Australia by 30% to $8.3 billion, which accounts for around 7% of its total of $115 billion.

The demand for condominiums in Singapore has been on the rise, fueled by the country’s limited land availability. Due to its rapid population growth, Singapore has implemented strict land use policies, making it a challenge for developers to acquire land for construction. As a result, the real estate market has become highly competitive, with soaring property prices. This has sparked an interest in real estate investment, particularly in condos, as they offer the potential for significant capital appreciation. Additionally, the introduction of Singapore Projects has only intensified the demand for condos, as the supply of land for development remains scarce.

With a goal to reach $200 billion in FUM by 2028, CLI is committed to investing up to A$1 billion to grow its FUM in Australia. This marks a notable shift in focus for CLI, as the previous board and management had divested its key assets in Australia a decade ago to concentrate on the then faster-growing China and other overseas markets.

The announcement of the acquisition, made on Dec 16, confirms earlier reports by the Australian media last month. Wingate is recognized as one of the leading and largest private credit investment managers in Australia, having completed over 350 transactions worth more than A$20 billion.

CLI and Wingate have a pre-existing relationship, as they had recently closed a A$265 million Australia Credit Program (ACP) in September, which was established in partnership with Wingate. According to CLI, Wingate’s expertise can help broaden CLI’s proprietary deal origination networks, expand its access to institutional and private high-net-worth investors, and increase its geographical exposure to Australia.

Paul Tham, group CFO of CLI, states that there is potential for growth in other Asia Pacific markets such as South Korea, India, and Japan. He adds that as CLI continues to diversify geographically, Australia remains a focus market due to its significant potential for growth.

CLI also notes that the Australian private capital market has grown by 33% in the past 18 months, with assets under management reaching A$139 billion. By 2028, it is forecasted that there will be a commercial mortgage funding gap of A$146 billion. With the addition of Wingate, CLI will be able to diversify its portfolio of logistics, business parks, office, and lodging assets across nine cities in Australia.

As of Sept 30, CLI already manages 34 logistics properties and business parks, as well as four Grade A office buildings in Australia. It also has over 13,500 lodging units across more than 150 properties under its wholly-owned lodging unit, The Ascott.…