Month: February 2025

Mandarin Gardens, a 1,006-unit condo located along Siglap Road in District 15, recorded the most profitable resale transaction for the week of Feb 7 to Feb 14. The transaction involved a spacious, four-bedroom unit that was sold for $4.88 million, or $1,284 psf, on Feb 11. According to URA records, the unit was last sold for only $1.05 million ($276 psf) in June 2003 – a difference of $3.83 million or 364.8% profit for the seller. This translates to an annualised capital gain of 7.4% over 21 and a half years. The sale also marked a record-breaking transaction for the most profitable deal at Mandarin Gardens, surpassing a 3,068 sq ft, four-bedroom unit sold in 2021 for $4.1 million, or $1,336 psf, in September 2021 – a profit of $2.7 million (193%) for the previous owner.

Mandarin Gardens in District 15 has recorded the most profitable condo resale transaction for the week of Feb 7 to Feb 14. The transaction involved a 3,800 sq ft, four-bedroom unit that was sold for $4.88 million, or $1,284 psf, on Feb 11. According to URA records, the same unit was bought for only $1.05 million ($276 psf) in June 2003. This resulted in a profit of $3.83 million for the seller, or 364.8% of their original purchase price. This translates to an annualised capital gain of 7.4% over 21 and a half years. The sale also sets a new record for the most profitable resale transaction at Mandarin Gardens, surpassing a 3,068 sq ft, four-bedroom unit that was sold for $4.1 million, or $1,336 psf, in September 2021. That sale resulted in a profit of $2.7 million (193%) for the previous owner.

This makes Mandarin Gardens the top performing condo in terms of resale gains. The previous record was held by a 3,800 sq ft unit on the 9th floor that was sold for $4.26 million ($1,122 psf) in June 2023.

Mandarin Gardens is a 1,006-unit condo located along Siglap Road in District 15. It was developed in 1982 and has a 99-year leasehold tenure with around 56 years remaining. The development spans 17 blocks of nine to 23-storey buildings. Units at Mandarin Gardens range from one to two-bedroom apartments of 732 sq ft to 1,001 sq ft, and three to four-bedroom units of 1,528 sq ft to 3,800 sq ft. The condo also has 11 strata commercial units.

Meanwhile, the second most profitable transaction was recorded at Parvis, a freehold condo located along Holland Hill in District 10. On Feb 10, a 2,260 sq ft, three-bedroom unit was sold for $4.78 million, or $2,115 psf. According to URA records, the same unit was bought from the developers for $2.78 million ($1,230 psf) in December 2009. This means the seller made a profit of $2 million (71.9%), or an annualised gain of 3.6% over 15 years.

This transaction also sets a new record for the third most profitable resale deal at Parvis. The top record is still held by a 2,605 sq ft, four-bedroom unit that was sold for $5.4 million ($2,073 psf) in November 2022. The unit was last bought for $3.21 million ($1,230 psf) in December 2009, resulting in a $2.19 million (68.2%) profit for the previous owner.

Parvis is a 12-storey development with 248 residential units and is located in prime District 10. Apartments at the condo range from two-bedroom units of 990 sq ft to 1,442 sq ft and three to four-bedroom units of 1,701 sq ft to 2,605 sq ft. There are also three and four-bedroom penthouses of 2,293 sq ft to 3,299 sq ft. Schools within 2km of Parvis include Henry Park Primary School, Nanyang Primary School, New Town Primary School, and Queenstown Primary School. The condo is also conveniently located near Holland Village MRT Station.

The most unprofitable transaction during the period was the sale of a two-bedroom unit at Scotts Square. The unit, located on the 28th floor, was sold for $3.08 million ($3,252 psf) on Feb 13. According to URA records, the same unit was last bought for about $3.83 million ($4,039 psf) in December 2007. This resulted in a $745,880 (19.5%) loss for the seller, or an annualised loss of 1.3% over 17 years.

Developed by Wharf Estates Singapore, Scotts Square has recorded 69 unprofitable transactions since its launch in 2007. Of these, 18 (26%) have resulted in a seven-figure loss. The most unprofitable transaction was for a 1,249 sq ft, three-bedroom unit that was sold for $3.65 million ($2,923 psf) in February 2017. The previous owner had bought the unit at launch in August 2007 for about $5.21 million ($4,171 psf). This resulted in a loss of approximately $1.56 million (30%) over 10 years.

The average resale price at Scotts Square has been declining since its launch in 2007. It peaked at $4,054 psf in July 2007 and hit a low of $3,330 psf in August 2020. In January 2021, the average resale price was $3,398 psf.

Owning a condo in Singapore offers numerous benefits, most notably the opportunity for capital growth. As a thriving global business hub, Singapore boasts a strong economy that continually drives demand for real estate. Consequently, property prices in the country have consistently risen, especially for condos situated in prime locations. For investors who enter the market at the right time and maintain their properties for a prolonged period, the potential for significant capital gains is substantial. The constant release of new condos by companies such as New Condo Launches has made investing in this market increasingly profitable. New Condo Launches provides an excellent opportunity for investors to tap into this lucrative market.

Scotts Square is a mixed-use freehold development with two luxury residential towers of 43 and 34 storeys, with a total of 338 apartments. It also features a four-storey retail podium with a wide array of amenities such as a concierge service, gym, lap pool, and sky pool on the 35th floor.…

The recent sale of a two-bedroom unit at Hill House has topped the list of private condos that achieved a new record price per square foot (psf) high between February 7 to 16. The 452 sq ft unit, located on the eighth floor, was sold by the developer for $1.54 million, setting a new peak of $3,398 psf for the 999-year leasehold development.The previous record of $3,378 psf, which was set on February 11, was only marginally surpassed when another 452 sq ft, two-bedroom unit on the eighth floor was sold for $1.53 million.Hill House, located at the top of Institution Hill off River Valley Road, is a boutique condo comprising 72 units that was launched in 2022. It consists of 40 one-bedroom units spanning 431 sq ft, 24 two-bedroom units ranging from 452 sq ft to 624 sq ft, and eight three-bedroom units spanning 753 sq ft.According to URA caveats, 37 units (51.4%) at Hill House have been sold at an average price of $3,152 psf since its November 2022 launch. The condo is expected to be completed in the third quarter of 2026.Meanwhile, The Tresor, a 62-unit development on Duchess Road in District 10, came in second on the list of condos that saw new psf-price highs during the period. The sale of a 1,421 sq ft unit on the fifth floor for $3.73 million set a new record of $2,625 psf on February 10. This surpasses the previous peak of $2,501 psf set in March 2024 when a 1,399 sq ft, three-bedroom unit on the second floor was sold for $3.5 million.The most recent resale transaction at The Tresor prior to this was on March 4, 2024 when a 1,399 sq ft unit was sold for $3.5 million ($2,501 psf).The Tresor, completed in 2007, consists of a mix of two-, three-, and four-bedroom apartments ranging from 990 to 2,896 sq ft. It is situated a five-minute walk away from Tan Kah Kee MRT Station and within walking distance of Coronation Shopping Plaza and Serene Centre. Other amenities in the vicinity include Adam Food Centre and the Singapore Botanic Gardens.Rounding out the top three on the list is Jadescape, a 99-year leasehold condo completed in 2022. A 1,647 sq ft, four-bedroom unit on the 22nd floor was sold for $4.05 million on February 7, setting a new record of $2,459 psf for the development.The previous record was set in January with a transacted price of $2,446 psf for a 1,259 sq ft unit on the 10th floor. The most expensive resale unit at the development to date is a 4,230 sq ft, six-bedroom penthouse that was sold for $10.2 million ($2,399 psf) in December 2024.Jadescape consists of 1,206 units across seven residential towers and offers one- to five-bedroom apartments ranging from 527 sq ft to 2,099 sq ft. It also features two penthouses spanning 4,230 sq ft. The development is located at the junction of Marymount Road and Shunfu Road, a five-minute walk from Marymount MRT Station and a four-minute walk from Sin Ming Plaza.A comparison of Jadescape with other condos within a 1km radius in terms of average transacted prices reveals that it commands one of the highest average prices at $2,192 psf over the past 12 months. In contrast, other condos in the vicinity, such as Tresalveo on Marymount Terrace, 183 Longhaus on Upper Thomson Road, and Thomson V Two on Sin Ming Road, have average transacted prices ranging from $1,712 psf to $1,912 psf over the same period. All three developments are freehold properties.There were no new psf-price lows recorded during the February 7 to 16 period.

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Singapore is renowned for its impressive cityscape, featuring towering skyscrapers and cutting-edge infrastructure. The residential landscape is equally impressive, with condominiums being the dominant housing option in the city. These luxurious residences are strategically located in highly sought-after areas, offering a perfect blend of opulence and convenience that appeals to both locals and foreigners alike. The condos are equipped with an array of top-notch facilities, such as swimming pools, fitness centers, and 24/7 security, elevating the overall living experience and making them highly appealing to potential renters and buyers. For investors, these added benefits translate into higher rental yields and significant appreciation in property values over time. This makes the latest New Condo Launches a highly attractive prospect for those looking to invest in the flourishing real estate market in Singapore. With New Condo Launches, investors can reap long-term benefits and enjoy a luxurious living experience in this thriving city.…

Chiu Teng Group, known for developing high-quality commercial and industrial spaces in Singapore, is set to impress property investors and business owners with their new freehold development – CT Pemimpin.

Investing in a condominium offers many advantages, one of them being the potential to use the property’s value to make further investments. It’s not uncommon for investors to utilize their condos as security to secure additional funding for new ventures, which can lead to diversifying their real estate portfolio. However, like any investment, this approach carries risks, making it essential to have a solid financial strategy in place and to carefully consider the potential effects of market fluctuations. With the help of New Condo Launches, investors can further maximize their returns while keeping these risks in mind.

This nine-storey B1 industrial building is located at 43 Jalan Pemimpin in the Central Region and comprises 56 strata-titled units and three canteen units. The units offer floor heights ranging from 5.6m to 7.35m, with selected units featuring mezzanine floors on levels one and five.

The freehold status of CT Pemimpin sets it apart from the majority of industrial developments in Singapore, which are limited to a 30-year or 60-year lease. This makes it a rare and valuable find in today’s market. Additionally, buyers of commercial and industrial properties are not subject to Additional Buyer’s Stamp Duty (ABSD), making it an attractive option for investors and eligible foreigners.

“The freehold status and centralised location make CT Pemimpin a great investment asset for both investors and end-users,” says Kelvin Fong, Deputy CEO of PropNex Realty.

CT Pemimpin also offers a generous one-to-one carpark ratio, with 59 carpark lots including two electrical vehicle lots, three lorry lots, two handicapped lots and 34 bicycle lots. The development is well-served by two passenger lifts and a service lift. Each unit also has its own private toilet for convenience.

“One of the standout features of CT Pemimpin is the allocated carpark lot for each unit, providing convenience for business owners and ensuring seamless accessibility and time-saving,” says Ken Low, Managing Partner of SRI.

Located in District 20, CT Pemimpin is highly sought after due to its proximity to established townships such as Bishan, Upper Thomson and Ang Mo Kio. Its excellent accessibility and connectivity to all parts of Singapore via various transport modes make it a convenient choice for those who commute by public transport.

“Owning a freehold property in Singapore’s central region is not only a smart investment, but also a strategic business asset. It offers an impressive corporate address, unmatched connectivity, and potential for growth,” says Doris Ong, Deputy CEO of ERA.

CT Pemimpin is just a five-minute walk from Marymount MRT station (Circle MRT Line) and accessible via Upper Thomson MRT station (Thomson-East Coast Line) and Bishan MRT station (North-South MRT Line), making it easy for commuters. Drivers can also conveniently access the industrial estate via major expressways such as PIE and CTE. It is also an eight-minute drive from Novena and a 15-minute drive from Orchard Road. The upcoming North-South Corridor expressway, set to be completed in phases from 2027, will further enhance its connectivity.

CT Pemimpin’s central location also offers a variety of retail and dining options at popular shopping centres such as Junction 8, Thomson Plaza, Velocity@Novena Square, AMK Hub, NEX, Woodleigh Mall, and Toa Payoh HDB Hub, all just a short drive away. The development is also close to reputable schools such as Raffles Institution, Catholic High School, and Eunoia Junior College.

The building will include several green features, such as shower rooms, bicycle racks, storage lockers, a sky garden with two rooftop pavilions, and rooftop solar panels and EV charging stations in the future. Other sustainable features include water-saving fittings, motion-sensor lighting, and double-glazed windows in selected units. Mark Yip, CEO of Huttons Asia, says that these features “aim to shape a greener and more committed future.”

Chiu Teng Group, established in 1999, is a trusted property developer and builder, known for its industrial and residential projects such as CT FoodNEX, CT Foodchain, The Creek@Bukit, Tagore8, and CT Hub & Hub 2.

The preview for CT Pemimpin ends on March 5, 2025. To secure your rare freehold industrial space, call 8100 8017 or visit Chiu Teng Group to arrange a viewing. Don’t miss this opportunity!…

(Rewritten)Two neighboring retail units on the third floor of Sim Lim Square will be featured in the next auction by ERA on February 27, with a total guide price of $3.38 million.The larger unit, spanning 958 square feet, will go for a guide price of $2.08 million, equivalent to $2,171 per square feet. Meanwhile, the smaller unit, totaling 570 square feet, has a guide price of $1.28 million, equating to $2,246 per square feet.This is the first time both units have appeared on ERA’s auction listings, and the owner is looking to sell them together or separately. ERA’s assistant vice president of auction and sales, Alison Lee, states that the units have competitive pricing. “They are slightly under the market average to motivate a quick sale,” she says.AdvertisementAccording to EdgeProp Singapore’s analytical tools, retail units at Sim Lim Square have been transacting at an average price of $2,997 per square feet in the past 12 months. The most recent sale recorded was in December 2024, where a ground floor shop measuring 592 square feet was sold for $1.92 million, or $3,241 per square feet.Sim Lim Square is well-known for being a tech hub, with a concentration of electronics and computer parts retailers, as well as other businesses such as eateries and traditional Chinese medicine shops. Both retail units up for sale are currently tenanted, generating an estimated monthly rental income of $4.50 psf. Data gathered by EdgeProp on a rolling 12-month average shows that retail units in the development can yield between $4.20 and $7.30 psf in monthly rental income.The owners of Sim Lim Square put the development up for collective sale in April 2019, with a tender launched at a reserve price of $1.25 billion. Though relaunched in December 2019 at the same price, it did not find a buyer. A second attempt by a collective sale committee formed in 2022 did not materialize. Lee states that a new committee is being assembled to consider the possibility of another collective sale attempt soon.Sim Lim Square was completed in 1987 and is a strata-titled commercial development located on Rochor Canal Road in District 7. It sits on a 78,152 square feet site with a 99-year land tenure from 1983. The complex houses 492 retail and office units spread across six floors and two basement levels. It is conveniently located near the Rochor and Jalan Besar MRT stations, as well as the Bugis MRT Interchange that connects the East-West and Downtown Lines.

Investing in a condo in Singapore holds a lot of potential, but it’s not without its challenges. One of the main factors to consider is the government’s property cooling measures, which have been implemented to maintain a stable real estate market. These measures, such as the Additional Buyer’s Stamp Duty (ABSD), have been put in place to deter speculative buying and regulate the market. For instance, foreign buyers and those purchasing multiple properties are subject to higher taxes. Although these measures may initially impact the profitability of condo investments, they ultimately contribute to the long-term stability of the market, making investing in a Singapore Condo a safer option in the long run.…

, explores other opportunities in healthcare

Mr Chong, a retiree, has provided financial assistance to his three sons while they were setting up their homes. While his eldest son bought a private condo, his two younger sons chose executive condos (ECs). According to him, buying an EC at a new launch is a no-brainer, even if it is purchased shortly after the five-year minimum occupation period (MOP), as it offers a good entry price.

Chong has experience in both situations. His second son bought a three-bedroom unit at the 531-unit Hundred Palms Residences, which was launched in July 2017. “He wanted to buy a four-bedroom unit, but they were snapped up quickly,” recalls Chong.

The project, developed by Hoi Hup Realty, received 2,000 e-applications and was sold out on the first day of launch at an average price of $841 psf. The EC on Yio Chu Kang Road was completed in 2019. Based on caveats lodged in January and February 2025, units sold fetched an average price of $1,769 psf, resulting in a 110% price gain in just eight years.

Chong points out that based on the selling price of $1.95 million ($1,849 psf) for a 1,055 sq ft, three-bedroom unit that was sold at Hundred Palms in February, his second son’s EC has appreciated by about $1 million from the time of its launch. This significant capital gain may have motivated many others to upgrade to private housing, he says.

Three years ago, when his youngest son decided to set up his own home, Chong sold his 1,260 sq ft, three-bedroom unit at The Interlace, which had been their family home for the past decade. In 2021, the Chongs purchased a 1,399 sq ft, four-bedroom, dual-key resale unit at Twin Fountains, a 418-unit EC in Woodlands. The EC, developed by a joint venture between Frasers Property and Lum Chang, was launched in 2013 and completed in 2016.

ECs are only open to buyers who are Singapore citizens or permanent residents (PRs) at launch and after the five-year MOP. Foreigners can only purchase ECs in the resale market after the 10th year of obtaining Temporary Occupation Permit (TOP).

The dual-key unit offers Chong privacy, as he occupies the one-bedroom studio while his son and family occupy the three-bedroom apartment. As a dual-key unit, while the main entrance is shared, each apartment has its own separate entrance.

Even though they paid $1,000 psf for the unit in 2021, which was considered a new high at the time, recent resale prices are even higher, says Chong.

In fact, the latest transaction of a 1,206 sq ft, four-bedroom unit in February was sold for $1.62 million ($1,344 psf). “Even though we bought in at $1,000 psf, resale prices at Twin Fountains are now 30% higher,” adds Chong.

Last October, City Developments launched the 348-unit private condo Norwood Grand at Champions Way in Woodlands. About 84% of the units were sold during its launch weekend at an average price of $2,067 psf, which has set a new benchmark for Woodlands.

Investing in real estate requires careful consideration of various factors, and one crucial aspect that cannot be ignored is location. In the bustling city of Singapore, this holds even more significance. Condominiums located in central areas or close to important amenities like schools, shopping malls, and public transportation hubs have a higher potential for appreciation in value. Some prime locations in Singapore that have consistently shown growth in property values include Orchard Road, Marina Bay, and the Central Business District (CBD). Families, in particular, find these areas desirable due to their proximity to reputable schools and educational institutions, further adding to the investment potential. Singapore Projects is an important addition to keep in mind when considering real estate investment in Singapore.

Chong points to the launch of Norwood Grand’s average selling price, which is 53.8% higher than the latest resale price at Twin Fountains. He believes that the announcement of revitalisation and new infrastructure, including the Johor Bahru-Singapore Rapid Transit System (RTS) with the Singapore terminus in Woodlands North, has revived interest in the northern region.

Narrowing price gap between ECs and private condos

However, with rising EC prices and caps on loan quantum, EC buyers will now have to pay a larger cash outlay, says Eugene Lim, key executive officer of ERA Singapore.

For ECs, the monthly household income ceiling is $16,000. Buyers have to meet the Mortgage Servicing Ratio (30% cap) and Total Debt Servicing Ratio (55% cap) requirements when taking a loan. Assuming a 30-year-old EC buyer with a household income of $16,000 and a maximum loan tenure of 30 years, the maximum loan amount they can take out is around $1 million, estimates ERA’s Lim.

Despite the higher upfront costs, buyers are not deterred by the higher prices of ECs, says Lim. This is because there is still a 42% median price gap between similar-sized homes in the EC market compared to 99-year leasehold private condos in the Outside Central Region (OCR), he adds.

For instance, the median price of a 900-1,000 sq ft EC unit is about $1.48 million, while that of a similar-sized unit in a private condo is about $2.1 million. “Therefore, in terms of absolute price, buyers, particularly HDB upgraders, still see value in ECs,” Lim reasons.

In 2024, the average transaction price of new non-landed private condos in the suburbs or OCR crossed the $2,200 psf mark. Furthermore, new ECs in 2024 were sold at a median price of $1,539 psf based on caveats lodged, says Ismail Gafoor, CEO of PropNex. This reflects a price gap of 44.2%. He expects the median price for new condos “to tip over $2,200 psf again” this year.

According to Christine Sun, OrangeTee Group’s chief researcher and strategist, the median price gap between new ECs and new private condos in the OCR has narrowed in recent years. Based on data from URA Realis, the gap has narrowed from 49.4% in 2023 to 44.2% in 2024 and to 43.6% in January 2025.

Sun attributes this narrowing gap to EC prices rising at a faster pace of 9.6% from 2023 to January 2025 compared to a 5.3% increase in non-landed home prices in the OCR over the same period.

Affordability, deferred payment

According to ERA’s Lim, the demand for ECs is therefore sustainable due to their affordability and lower price psf than 99-year leasehold private condos in the same area.

Aside from lower prices relative to new private condos, EC buyers do not need to dispose of their existing home before making their purchase, notes Lim. HDB upgraders also do not incur additional buyers’ stamp duty (ABSD) when buying a new EC, he points out.

Moreover, EC buyers may opt for the Deferred Payment Scheme (DPS) at a slightly higher purchase price. Under the DPS, buyers only need to pay a deposit, and their loan is deferred until after the completion of the EC. “This way, buyers will not need to service two mortgages while waiting for the new home to be completed,” says Lim.

He adds: “Although there are three new EC launches expected this year, they are strategically spaced out across different locations – Tampines, Pasir Ris and Tengah – and will cater to the housing needs of Singaporeans across the island.”…

According to recent data from C9 Hotelworks, a leading hospitality consultancy in Asia, the market value of branded residential projects in Asia has reached an all-time high of US$26.6 billion ($35.5 billion). This is due to a record number of luxury units, with over 68,000 now available.

Leading the way in Asia is Vietnam, with 17,680 branded residential units across 59 properties. These units have an average price of US$350 per square foot (psf). Thailand takes second place with 16,271 units across 65 properties, where the average price is US$510 psf. The Philippines follows with 13,276 units across 46 properties, with an average price of US$400 psf.

However, the most expensive branded residences in the region can be found in Singapore, with an average price of US$2,140 psf. This is followed by Japan where prices average around US$1,935 psf.

C9 Hotelworks managing director Bill Barnett says, “There are also emerging markets where branded residences have seen rapid growth in recent years. South Korea has 3,026 units across 16 properties, and Malaysia has 6,014 units across 24 projects.”

In the post-Covid-19 era, urban branded residences make up 56% of the existing supply in Asia. These luxury urban projects dominate the sector in terms of market value. For example, urban branded residences in South Korea are priced at US$2,670 psf, which is more than half the cost of resort projects in the same country, which typically sell for US$1,040 psf. Similarly, in Thailand, urban branded residences fetch about US$770 psf, compared to US$430 psf in resort locations.

The branded residential market in Asia comprises about 12,330 units across 80 developments that are affiliated with luxury hotel brands, accounting for 31% of the market supply. “The data shows that a reputable brand can help an affiliated property command premium pricing of 30%-35% on top of the market rate in the country. It also helps the developer increase its market share in the country,” notes Barnett.

The popularity of top hospitality brands and other luxury lifestyle brands has caused hotel groups and premium brands to demand higher licensing fees, adds Barnett. It is becoming increasingly common for luxury hotel and lifestyle brands to request a 6% to 10% cut in the sale of each branded residential unit.

In August, Thai developer Ananda Development and German automaker Porsche, through its lifestyle brand Porsche Design, launched the ultra-luxurious Porsche Design Tower Bangkok in Thonglor. The 22-unit tower, to be completed in 2028, is the first Porsche residential tower in Asia, following the Porsche Design Tower Miami a decade ago. It offers duplexes and quadplexes with prices ranging from US$15 million to US$40 million.

One person who has noticed the rise in branded residences is Gianfranco Bianchi, general manager of Asia Pacific at The One Atelier, an international design consultancy that specialises in branded residences for lifestyle brands. In recent years, more luxury lifestyle brands have been exploring partnerships to license their branding for real estate developments across the Asia Pacific region.

One Atelier has partnered with several high-profile brands to create branded residences, including the 28-unit Fendi Casa Residences by Armani in Miami, the 259-unit 888 Brickell by Dolce & Gabbana in Miami, the 90-unit Büyükyalı Residences in Istanbul, Turkey, and the Karl Lagerfeld Villas, a collection of five ultra-luxury villas in Marbella, Spain.

Singapore’s cityscape is characterized by towering structures and state-of-the-art facilities. Condominiums, strategically situated in desirable locations, offer a mix of opulence and practicality that attracts both locals and foreigners alike. These residences come with a plethora of conveniences, including swimming pools, fitness centers, and round-the-clock security, elevating the overall living experience and garnering interest from potential renters and buyers. For individuals looking to invest, these impressive amenities translate into higher rental returns and appreciation in property value over time. Consider adding Singapore Condo to your list of options.

While hospitality-affiliated branded residences provide top-notch hospitality services, fashion or design-branded residences offer a rare trophy home that embodies the namesake design and luxury aesthetic that have made such brand names synonymous with luxury lifestyles today, says Bianchi.

According to Ananth Ramchandran, head of advisory and strategic transactions in Asia for CBRE’s hotels and hospitality division, property cooling measures have caused many high-net-worth buyers in Singapore to turn their attention to trophy assets in nearby regional markets.

“We have seen a significant reduction in the number of discussions and inquiries from Singapore developers looking to explore high-end ultra-luxury branded residential projects in Singapore. Property cooling measures have severely dampened foreign buyer demand, which is discouraging developers from entering this high-end segment,” he says.

Singaporean high-net-worth buyers are increasingly interested in luxury-branded residences in destinations such as Phuket and Bangkok in Thailand, Bali in Indonesia, and emerging markets in Vietnam. These locations are typically only a two-hour flight from Singapore.

“The relatively short travel time and availability of regularly scheduled direct flights make it much more appealing to Singapore-based buyers,” says Ramchandran. He adds that last month, flight carriers like Singapore Airlines, Scoot, AirAsia, and Jetstar completed around 150 flights per week between Singapore and Phuket.

Jason Thelen, senior director of sales and marketing at Sudara Residences, a Thai-based developer, agrees, saying, “Singapore has quickly become our top regional market for buyers looking for second homes, accounting for over 45% of regional purchases.”

The Ascott, a hospitality operator, is also taking advantage of the potential future growth in the branded residential segment in Asia, according to Saowarin Chanprakaisi, vice-president of business development at The Ascott.

“We believe that our brands like Ascott, The Crest Collection, and Oakwood Premier have reputations that are strong in the market,” she says.

“Branded residential operators must develop and maintain trust in the brand that it can deliver the level of service that will eventually translate into the long-term value proposition of the asset,” Chanprakaisi adds. Ascott is looking to expand its market share in the region by partnering with developers who want to enter the branded residential market.…

UEM Sunrise and GuocoLand, two renowned property developers from Malaysia and Singapore respectively, have recently signed the first ever Memorandum of Understanding (MOU) between private companies of the two countries for the Johor-Singapore Special Economic Zone (JS-SEZ). The MOU, which was announced on Feb 27, will see the two groups jointly develop UEM Sunrise’s freehold land in Iskandar Puteri, Johor, with the aim of accelerating growth within the JS-SEZ. The signing ceremony took place at the official opening of UEM Sunrise Gallery Iskandar Puteri, a display showcasing the group’s vision for Iskandar Puteri.

Iskandar Puteri, which is part of Flagship Zone B of the JS-SEZ, specializes in various industries such as manufacturing, business services, education, health, and tourism. This collaboration is expected to cover UEM Sunrise’s selected plots of land in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri. The partnership aims to activate the potential of Iskandar Puteri and make it more attractive for investment, focusing on improving connectivity, nurturing talent, and creating a business-friendly environment to drive long-term sustainable economic benefits in Johor.

UEM Sunrise’s Chief Financial Officer, Hafizuddin Sulaiman, stated that this partnership is not just about development, but also about shaping a thriving economic hub for long-term growth, job creation, and strengthening the JS-SEZ ecosystem. The sites chosen for this collaboration are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas, making them ideal for driving economic growth and positioning Iskandar Puteri as a robust business and investment hub.

According to Datuk Hisham Hamdan, Chairman of UEM Sunrise, this collaboration, along with developments in Iskandar Puteri and strategic partnerships, is part of a larger vision to position Johor as a dynamic and forward-thinking economy. GuocoLand’s CEO, Cheng Hsing Yao, also expressed his excitement about the partnership, saying that the Singapore-listed property group will bring their expertise in real estate development and asset management, as well as their understanding of the needs of companies from Singapore, Malaysia, and China, who wish to establish a presence in the JS-SEZ.

UEM Sunrise has been a key player in the urban development of Iskandar Puteri, with past projects including residential townships like the Aspira series and Senadi Hill, as well as commercial and retail hubs. They are currently working on an upcoming 380-acre industrial park in Gerband Nusajaya. The growth potential in Iskandar Puteri is expected to be boosted by the incentives and support schemes introduced by the governments of Malaysia and Singapore, which aim to attract more investments into the JS-SEZ. These measures include special tax rates, stamp duty exemptions, and capital allowances.

When it comes to investing in condos in Singapore, there is an important factor to consider: the government’s property cooling measures. In an effort to control speculative buying and maintain a steady real estate market, the Singaporean government has implemented various measures over the years. These include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. Although these measures may affect the immediate profitability of condo investments, they ultimately contribute to the long-term stability of the market, making it a more secure environment for investors. With Condo investment in Singapore, it is essential to take these measures into account.

In conclusion, the partnership between UEM Sunrise and GuocoLand aims to drive the growth of Iskandar Puteri and the JS-SEZ through innovative developments and collaboration. With the support of both governments and the expertise of these two reputable property developers, Iskandar Puteri is well on its way to becoming a successful and vibrant economic hub in Southeast Asia.…

Several notable resale transactions were closed between Jan 28 to Feb 4, despite coinciding with Chinese New Year festivities this year. The most lucrative deal was the sale of a 3,983 sq ft unit at the Palisades condominium, which sold for $4 million ($1,004 psf) on Feb 4. This unit, located on the second floor, was originally purchased for $1.7 million ($427 psf) in August 2009. The seller earned a profit of $2.3 million (135%), resulting in an annualized gain of 5.7% over 15.5 years. This makes it the most profitable resale transaction to date at Palisades.

The previous record was set three years ago, when a 3,294 sq ft unit on the eighth floor was sold for $3.4 million ($1,032 psf). It was bought for $1.53 million ($465 psf) in 1996, resulting in a profit of $1.87 million (122%) or an annualized gain of 3.1% over 25 years.

When it comes to investing in condo properties in Singapore, one must take into account the government’s property cooling measures. In an effort to regulate and maintain a steady real estate market, the Singaporean government has implemented various measures to deter speculative buying. These measures include 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 immediate profitability of condo investments, they also contribute to the long-term stability of the market, creating a more secure investment environment.

Over the past three years, there have only been five resale transactions at Palisades, all of which have been profitable. These transactions ranged from $650,000, when a 3,294 sq ft unit sold for $3.8 million ($1,154 psf) on Dec 13, 2022, to the most recent sale with the record profit of $2.3 million.

Palisades is a freehold condominium situated on Pasir Panjang Road in District 5. It was built in 1985 and has 18 units. Palisades is the only condominium in Singapore equipped with a funicular elevator.

Meanwhile, the second most profitable resale during this period took place at Ardmore II, where a four-bedroom unit was sold for $6.85 million ($3,385 psf) on Feb 3. The unit was purchased for $4.72 million ($2,333 psf) in November 2006, resulting in a profit of $2.12 million (45%), or an annualized gain of 2.1% over 18 years.

According to transactions recorded by EdgeProp Singapore, resale prices at Ardmore II have risen steadily over the past few years, from about $2,623 psf in January 2015 to around $3,390 psf at the start of this year.

Ardmore II is a freehold luxury condominium located on Ardmore Park in the prime District 10. Nearby developments include the Shangri-La Singapore hotel, Treetops Executive Residences, Ardmore Park, and Sculpture Ardmore. It is also close to Tanglin Road and the Orchard Road shopping belt.

On the other hand, the most unprofitable resale during this period was the sale of a studio at Vida, a freehold condominium in prime District 9. The 527 sq ft unit, located on the 12th floor, sold for $1.04 million ($1,972 psf) on Feb 4. The unit was originally purchased for $1.15 million ($2,192 psf) in May 2009. As a result, the seller incurred a loss of $116,000 (10%), translating to an annualized loss of 0.7% over almost 16 years.

The most unprofitable resale to date at Vida involved an 840 sq ft unit on the 10th floor, which sold for $1.73 million ($2,061 psf) in August 2022. It was bought for $2.33 million ($2,774 psf) in July 2007, resulting in a record loss of $598,920 (25%), or an annualized loss of 1.9% over 15 years.

Based on transactions recorded, resale prices at Vida have been declining in recent years, reaching a peak of about $2,277 psf in August 2015 and dropping to around $2,058 psf last month.

Vida is a 137-unit condominium situated on Peck Hay Road in the upscale Newton area. It was completed in 2009 and features a mix of studios, one- and two-bedroom units ranging from 506 sq ft to 883 sq ft. Nearby condominiums include the 387-unit Orchard Scotts on Anthony Road, and condos on Cairnhill Rise and Cairnhill Circle such as The Peak @ Cairnhill I & II, Hilltops, and Helios Residences.…

The first Johor-Singapore Special Economic Zone (JS-SEZ) MOU between private companies in Malaysia and Singapore has been signed by Malaysian property developer UEM Sunrise and Singapore-listed GuocoLand, according to a recent release on Feb 27.

The MOU will see the two groups collaborating to jointly develop UEM Sunrise’s selected freehold landbank in Iskandar Puteri, Johor, in order to accelerate growth within the JS-SEZ. The signing ceremony took place at the opening of UEM Sunrise Gallery Iskandar Puteri, a showcase of the group’s vision for Iskandar Puteri.

Iskandar Puteri, which is part of Flagship Zone B of the JS-SEZ, is known for its expertise in various sectors including manufacturing, business services, education, health, and tourism. If you are looking to invest in overseas properties, there are various projects available for sale around the world.

The limited availability of land is a major factor driving the high demand for condos in Singapore. As a small island nation with a rapidly expanding population, Singapore is faced with a scarcity of land for development. As a result, the country has implemented strict land use policies and a highly competitive real estate market where property prices continue to rise. As a result, investing in real estate, specifically condos, has become an attractive opportunity with the potential for significant capital appreciation. With the addition of Singapore Condo, it further solidifies the appeal of these properties and adds to the overall value of the real estate market in Singapore.

The MOU is expected to cover UEM Sunrise’s selected plots of land in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri. The collaboration aims to activate the potential of Iskandar Puteri and enhance its attractiveness for investors. The focus will be on improving connectivity, fostering talent development, and creating a business-friendly ecosystem to drive sustainable economic benefits in Johor.

According to the CFO of UEM Sunrise, Hafizuddin Sulaiman, “This partnership is not just about development, but also about shaping a thriving end-to-end, future-ready economic hub that fuels long-term growth, creates jobs, and strengthens the JS-SEZ ecosystem.”

The development sites are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas. The partnership aims to drive long-term economic growth and establish Iskandar Puteri as a robust business and investment hub.

In a speech, Datuk Hisham Hamdan, chairman of UEM Sunrise, says, “The JS-SEZ, developments in Iskandar Puteri, and strategic partnerships are all part of a larger vision to position Johor as a dynamic and forward-thinking economy.”

Cheng Hsing Yao, CEO of GuocoLand, adds, “Together, our combined expertise will enable us to shape Iskandar Puteri and the wider JS-SEZ through innovative developments.” He further explains that the Singapore-listed property group will bring its experience in real estate development and asset management, as well as its understanding of the needs of companies from Singapore, Malaysia, and China that wish to establish a presence in the JS-SEZ.

UEM Sunrise has previously played a significant role in the urban development of Iskandar Puteri. Some of the existing developments under the group include residential townships such as the Aspira series and Senadi Hill. The group has also developed commercial and retail hubs, including an upcoming 380-acre industrial park in Gerband Nusajaya.

The growth in Iskandar Puteri is expected to be driven by incentives and support schemes introduced by the Malaysian and Singaporean governments to increase investments in the JS-SEZ. These measures include special tax rates, stamp duty exemptions, and capital allowances.…

As you explore the possibility of investing in a condo, it is crucial to also consider the potential rental yield. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, condo rental yields can vary greatly depending on factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, offer more attractive rental yields. To gain a better understanding of the rental potential for a specific condo, it is beneficial to conduct thorough market research and seek advice from real estate agents. You may also want to explore Singapore Projects to further enhance your knowledge and insights.

Singapore has global opportunity to lead sustainable development: MNDhttps://www.edgeprop.sg/property-news/frasers-property-partners-two-chinese-real-estate-groups-join-residential-site-shanghai-china

Frasers Property has teamed up with two major Chinese real estate companies to jointly acquire a residential site in Songjiang District in Shanghai, China. The joint venture partners successfully acquired the site for RMB815.2 million ($151.9 million) through a tender from the Shanghai Municipal Bureau of Planning and Natural Resources.The other JV partners include Xiamen ITG Real Estate Group, which is a fully-owned subsidiary of ITG Holding Group, a state-owned enterprise under the Xiamen Municipal Government. In addition, Shanghai-listed Gemdale Corporation has also entered into the partnership. In a statement released on February 26, Frasers Property announced that the JV partners have plans to develop the site into a mixed-use property comprising of 189 low-rise apartments, townhouses, and duplex units. The project will cover a total gross floor area of 334,714 square feet. It is also expected to feature cutting-edge design elements such as flood mitigation, ultra-low energy building designs, energy-saving door and window systems, reduced thermal bridging, and solar photovoltaics. The development is aimed at targeting upgraders and first-time homebuyers looking to buy in the Fangsong Community of Songjiang District, one of Shanghai’s prime residential neighborhoods. It is also strategically located near two other projects, Club Tree and Palace of Yunjian, which were previously developed under other joint ventures involving Frasers Property and Gemdale Corporation. “This joint venture not only strengthens our presence in Shanghai but also demonstrates our commitment to delivering high-quality residential developments that cater to the changing needs of the Chinese community,” says Lim Hua Tiong, CEO of emerging markets in Asia at Frasers Property.…