Month: February 2025

CapitaLand India Trust (CLINT) has recently announced its plans to acquire an office project in Nagawara, Outer Ring Road, Bangalore for $233.6 million. The acquisition will be made through a forward purchase agreement with Maia Estates Offices.

The group believes that the addition of this 1.13 million sq ft office project to their portfolio will not only improve their earnings but also benefit their unitholders. On a stabilized basis, CLINT is expecting a net profit of $7.7 million while the distribution per unit is expected to increase from 6.84 cents to 6.98 cents.

The office project is a part of a mixed-use development that also includes retail space. As per the forward purchase agreement, CLINT will be fully funding the development of the office project and in return, will receive interest on the funding at a rate higher than their borrowing cost.

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Upon completion of the development, CLINT is expected to acquire the office space in the first half of 2030 while Maia will retain the retail portion. This will result in an increase in the operational area of CLINT’s portfolio in Bangalore from 8.7 million sq ft to 9.9 million sq ft.

CLINT 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 this office project, CLINT’s portfolio size, including their committed investment pipeline, will increase by 4.0% from approximately 30.2 million sq ft to 31.47 million sq ft.

“The acquisition of this strategically located office project will further strengthen CLINT’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 is the largest office micro-market in Bangalore. With the addition of this prime office property, we will be able to offer our tenants a larger selection of premium office spaces across key micro-markets in Bangalore,” says Gauri Shankar Nagabhushanam, CEO of CLINT.

On Feb 21, units in CLINT closed flat at $1.

(CapitaLand India Trust in $201 million forward purchase of development in Bangalore)

The landscape of Singapore is renowned for its breathtaking skyline, dominated by towering skyscrapers and state-of-the-art infrastructure. The city’s prime locations are home to a range of luxurious Condos, which combine opulence with convenience, making them a popular choice among locals and expats alike. These exclusive residences offer an array of amenities, including lavish swimming pools, well-equipped fitness centers, and top-of-the-line security services, providing residents with a superior standard of living. As a result, these Condos are in high demand among potential tenants and buyers, boasting attractive rental yields and steady property appreciation over time. For those looking to make a savvy investment, these Condos prove to be a lucrative opportunity. To experience the epitome of luxury living, check out Condo.

CLINT has proposed to acquire International Tech Park Pune from their subsidiary CLI and their JV partner for $221.9 million. Additionally, CapitaLand India Trust and India developer L&T Realty have joined forces to develop 6 million sq ft of prime offices in India.…

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Obtaining financing is a crucial factor when it comes to investing in a condo. In Singapore, there are various mortgage choices available, but it is imperative to stay 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 obligations. Familiarizing oneself with the TDSR and seeking guidance from financial advisors or mortgage brokers can assist investors in making well-informed decisions about their financing options and prevent excessive borrowing. Additionally, keeping an eye on New Condo Launches can provide valuable opportunities for investors in the condo market.

Sim Lian Group has announced that its latest executive condominium (EC) project, Aurelle of Tampines, will open for e-application on February 22nd. The 760-unit development is located at Tampines Street 62 in Tampines North and is the first new EC project launch for 2025.

Conveniently located just a five-minute walk from the upcoming Tampines North Transport Hub, the Aurelle of Tampines is perfectly situated for easy access to transportation. The hub will feature the Tampines North MRT Station, which is part of the Cross Island Line and is slated to open in 2030. It will also include an air-conditioned bus interchange, integrated with the mixed-use development, ParkTown Mall, which will also feature a Community Club, Hawker Centre, and ParkTown Residence. The 1,093-unit ParkTown Residence will also be officially launched for sale on February 22nd.

The Aurelle of Tampines project consists of fourteen 14-storey residential blocks spread across a site area of 301,391 sq ft. According to Sim Lian, the units are designed for young professionals and growing families, with a mix of three- to five-bedroom units.

The latest details on available units and prices for Aurelle of Tampines can be found on the project’s website. Prices 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.

Next door to Aurelle of Tampines is the 618-unit Tenet EC, developed by Qingjian Realty and Santarli Realty. Launched in December 2022, the project has already sold 617 units at an average price of $1,385 psf. Based on recent transactions, the highest transacted price on a psf basis was a 1,367 sq ft unit that sold for $2.26 million or $1,651 psf in December 2022. As of February 21st, there is only one available unit for sale in Tenet.

E-application for Aurelle of Tampines will begin on February 22nd and end on March 4th. Sales bookings will commence on March 8th. The appointed marketing agents for the project are ERA, Huttons, OrangeTee, and PropNex.

Under current EC regulations, during the initial launch (the first 30 days), 70% of the project must be allocated to first-time buyers, with only 30% open to second-timers. For more information on available units in Aurelle of Tampines, Tenet, and Parktown Residence, visit the project’s website. You can also use EP Buddy and URA Realis to check out the latest transactions and price trends for new and resale condos, as well as the available units in Tenet.…

The recent sale of River Valley Apartments, a freehold condominium located on River Valley Road, has made headlines as the first successful residential collective sale deal to close in 2025. The property was sold for a whopping $56 million, translating to a land rate of $1,622 psf per plot ratio (psf ppr). This deal has caught the attention of many, as it is a promising sign for the residential market.

According to the press release from Knight Frank Singapore, the marketing agent for the property, the purchaser is a local Singapore family office. They have plans to redevelop the site into serviced apartments, and the Urban Redevelopment Authority (URA) has already granted an Outline Permission for this development.

Chia Mein Mein, the head of capital markets (land and collective sale) at Knight Frank Singapore, expressed her excitement over this successful transaction, especially during a time when the collective sale market is facing challenges, particularly in the residential sector. This marks the first collective sale site sold in 2025, and it is a positive development for the real estate industry.

As a foreign investor, it is crucial to have a clear understanding of the regulations and limitations surrounding property ownership in Singapore. While purchasing condos is typically less restrictive for foreigners, the rules for owning landed properties are more stringent. One key factor to consider is the Additional Buyer’s Stamp Duty (ABSD) of 20% that foreign buyers must pay for their initial property purchase. Nevertheless, the Singapore real estate market remains a popular choice for foreign investment due to its reliability and potential for growth. Keep an eye out for upcoming New Condo Launches that may offer enticing opportunities for foreign buyers.

The River Valley Apartments collective sale is also the first residential collective sale site to be sold in a prime district since 2023, when Kew Lodge was sold for $66.8 million to Aurum Land. Chia believes that the property’s appeal lies in its excellent location in the popular River Valley neighbourhood and its potential for redevelopment into serviced apartments. This is in line with the current trend of serviced apartments being in high demand in Singapore.

River Valley Apartments comprises of a four-storey building with 24 units. The 12,408 sq ft site, which is zoned “residential”, has a gross plot ratio of 2.8 under the latest Master Plan. The owners of River Valley Apartments initiated the collective sale of the development on January 7, with a guide price of $56 million. After several attempts in the past, this is the first time they have managed to secure the 80% consensus from the owners to proceed with the tender launch. Jerry Tan, the chairman of the River Valley Apartments collective sale committee, expressed his satisfaction with the outcome of the tender.

In conclusion, the successful collective sale of River Valley Apartments is a positive sign for the real estate market, showing that there is still demand for prime residential properties in Singapore despite the challenging market conditions. This sale also highlights the potential for redevelopment of older properties into newer and more sought-after developments in prime locations.…

When contemplating an investment in a condominium, it is crucial to assess the potential rental yield as well. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, condos can have varying rental yields 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 better rental yields. To gain insight into the rental potential of a specific condo, it is advisable to conduct thorough market research and consult with real estate agents. Additionally, keeping an eye on new condo launches can be beneficial in identifying potential opportunities.

The highly sought-after 8M Residences has once again topped the list of private condos that achieved a new psf-price peak during the week of Feb 1 to 7. According to recent data, the freehold development achieved a record-breaking price 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 that a unit at 8M Residences has been sold for more than $2,300 psf.In comparison, the previous peak at the development was set in April 2023 when a similar two-bedroom unit on the 11th floor was sold for $1.46 million at a rate of $2,261 psf.8M Residences also saw another transaction during this period that surpassed the record set in 2023. On Feb 3, a one-bedroom unit on the 11th floor was sold for $1.2 million, marking a new high of $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) in October 2012.Resale data collected by EdgeProp Singapore shows that resale prices at 8M Residences have been consistently rising over the past few years. According to a 12-month rolling average, the average price of units at the condo increased by 7.3% from $2,028 psf in February 2022 to $2,177 in February 2025.8M Residences, completed in 2017, is a 20-storey residential tower that boasts 68 units ranging from one to three bedrooms. It also has four penthouses varying in size from 1,184 to 1,841 sq ft.8M Residences is located close to several prestigious schools such as EtonHouse International Research Pre-School, Katong Swimming Complex and Katong Park MRT Station.Meanwhile, the sale of a 1,076 sq ft, three-bedroom unit at Kovan Jewel, a freehold condo on Kovan Road in District 19, took second place on the list of private condos that achieved a new psf-price high. This unit was sold by the developer for $2.41 million on Feb 7, setting a new high of $2,236 psf. This record surpasses the previous peak set in August 2023 when a similar three-bedroom unit was sold for $2.4 million at a rate of $2,228 psf.Kovan Jewel, completed last year, features 34 units with one to three bedrooms measuring 624 to 1,345 sq ft. There are also four-bedroom penthouses ranging 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 $2,111 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 transaction this year.Finally, boutique condo Oleanas Residence takes third place on the list of private condos that achieved a new psf-price peak. On Feb 3, a 1,141 sq ft, three-bedroom unit on the sixth floor sold for $2.52 million, marking a new record of $2,207 psf at the condo.Previously, the highest transacted price at Oleanas Residence was $2,157 psf, from the sale of a 1,238 sq ft, three-bedroom unit for $2.67 million in August 2022. The most expensive resale unit at the condo, however, is a 1,636 sq ft, three-bedroom unit that sold for $3.3 million ($2,017 psf) in December 2022.Oleanas Residence, completed in 1999, is a freehold condo located on Kim Yam Road in District 9. In the last three years, the condo has recorded only four resale transactions, with prices ranging 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.The condo is situated close to two MRT Stations: Great World MRT Station on the Thomson-East Coast Line and Fort Canning MRT Station on the Downtown Line. It is also within the 1km radius of educational institutes such as River Valley Primary School and Outram Secondary School.…

Luxury transactions hit high of $5 mil at Four Seasons ParkCentral Area luxury flat pent-up demand seen to drive recoveryMar 10, 2023, 2:34 PMSingapore condo, HDB resale prices up in February due to La Mariposa & Canberra VistaLuxury developments continue to dominate profitable resale transactions in Feb 2023

Nassim 9, a luxury development, has recorded the most profitable private non-landed resale transaction during the period of February 4 to February 7. A four-bedroom unit spanning 2,486 sq ft located on the third floor changed hands for $7.5 million, or $3,016 psf, on February 7.

According to URA caveats, the unit was previously bought in December 2005 for $4.12 million, translating to a profit of $3.42 million (83.8% of the original purchase price) for the seller. This marks an annualised gain of 3.2% over 19 years.

This transaction is the third-most profitable resale at Nassim 9, with the current record set in March 2023 when a larger four-bedroom unit spanning 2,756 sq ft was sold for $9.5 million ($3,448 psf). The seller made a profit of $5.38 million (130.6%), or an annualised gain of 5% over 17 years.

The last caveated transaction at Nassim 9 was in March 2023, when a 3,251 sq ft, four-bedroom unit was sold for $10.3 million ($3,169 psf). It generated a profit of $3.3 million.

Located along Nassim Road in prime District 10, Nassim 9 is a boutique condo with only eight units completed in 2002. It features four-bedroom units spanning between 2,756 and 3,423 sq ft.

The second most profitable resale during the period was at Mount Faber Lodge, where a triplex penthouse unit was sold for $5 million ($1,350 psf) on February 5. The unit was last bought in August 2001 for $1.6 million, resulting in a profit of $3.4 million (212.5%) for the seller. This makes an annualised gain of 5% over 23½ years.

The unit sold on February 5 is the most profitable unit at Mount Faber Lodge to date, surpassing the previous record set in October 2022 when a three-bedroom unit spanning 2,669 sq ft was sold for $3.89 million ($1,457 psf). The unit was originally purchased for $1.3 million ($487 psf) in January 2006, resulting in a profit of $2.59 million (199.2%) for the seller.

Completed in 1983, Mount Faber Lodge is a boutique freehold development situated along Mount Faber Road in District 4. It offers studio units spanning 1,098 sq ft, along with two- and three-bedroom units from 1,173 to 2,454 sq ft. The development also features 20 five-bedroom triplex penthouses ranging from 3,703 to 3,724 sq ft.

The third-most profitable deal during the period was the sale of a three-bedroom unit at Amaryllis Ville, a 99-year leasehold condo in prime District 11. The 1,238 sq ft unit on the 28th floor was sold for $2.65 million ($2,141 psf) on February 5. It was previously bought for $1.09 million ($884 psf) in June 2005, resulting in a profit of $1.56 million (142.2%) for the seller. This marks an annualised gain of 4.6% over 19½ years.

This transaction is the third-most profitable unit to be sold at Amaryllis Ville, with the current record set in September 2023 when a three-bedroom unit spanning 1,991 sq ft was sold for $3.75 million ($1,885 psf). The unit was originally purchased for $1.95 million ($979 psf) in June 2009, resulting in a profit of $1.8 million (92.5%) for the seller. This marks an annualised gain of 4.7% over 14 years.

Based on resale data tabulated by EdgeProp Singapore, resale prices at Amaryllis Ville have been steadily increasing in recent years. The average price hit $1,897 psf in February 2023 before rising to $2,001 psf in February 2024. Last month, the average price reached $2,082 psf, marking a 4% year-on-year increase.

When it comes to investing in real estate, one factor that cannot be overlooked is the location. This is especially true for those looking to invest in Singapore. In this country, condos that are situated in central areas or in close proximity to essential amenities such as schools, shopping malls, and public transportation hubs are known to appreciate in value. Some prime locations that have consistently shown growth in property values include Orchard Road, Marina Bay, and the Central Business District (CBD). Families with children also value condos in these areas because of their proximity to good schools and educational institutions, making them highly desirable investments. With all these factors in mind, it is important for investors to carefully consider the location when looking for a condo to invest in.

Completed in 2004, the 311-unit Amaryllis Ville is located along Newton Road and offers a mix of one- and two-bedroom units measuring between 657 and 1,378 sq ft, as well as three-bedroom units ranging from 958 to 2,637 sq ft. Nearby condos include the 129-unit Rochelle at Newton along Keng Lee Road and the 378-unit Kopar at Newton along Makeway Avenue.

During the period, there were no unprofitable transactions.…

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When it comes to making strategic investments in real estate, location is key, especially in a bustling city like Singapore. The placement of condos plays a crucial role in their value, with factors such as being situated in central areas or near essential conveniences like schools, shopping centers, and public transportation hubs contributing significantly to their appreciation. This is evident in prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD) where property values have consistently shown growth. These areas are highly desirable for families due to their proximity to reputable schools and educational institutions, making them ideal for investment opportunities. Therefore, for those considering investing in condos, it is crucial to prioritize location, and prime areas like Orchard Road, Marina Bay, and the CBD, should definitely be at the top of the list. Additionally, do not forget to check out Condo for more information on this topic.

Heeton Holdings, a property developer, has announced a 221% increase in earnings for the second half of FY2024. This was reported for the period ended December 31, 2024, with a total of $3.85 million in earnings. Despite this significant growth, the group has still reported a loss for the entire FY2024.On a per share basis, Heeton’s earnings for the second half of FY2024 was 0.79 cents per ordinary share. However, for the full year, the earnings per share were a negative 0.28 cents per share. This indicates a steady growth in earnings for the latter half of FY2024.For the 2HFY2024, Heeton’s revenue increased by 10.5% year-on-year to $41.1 million. This was driven by rental income from investment properties, hotel operation income, and management fee. For the entire FY2024, revenue grew by 15.2% to $78.2 million.Heeton attributes the growth in turnover to higher occupancies in the United Kingdom and an increase in rental rates for the group’s investment properties. During the period, the group also disposed of some of its subsidiaries, resulting in a net gain of $3.78 million. Property, plant, and equipment also saw an increase of $16.92 million due to the acquisition of a hotel in Edinburgh, UK.Heeton’s cash flow saw a decrease in cash and cash equivalents of $32.70 million due to significant inflows and outflows. This includes proceeds from property disposals of $26.43 million and proceeds from subsidiary disposals of $11.37 million. On the outflow side, the group had a net repayment of loans from associated and joint venture companies of $24.45 million, additions to property, plant, and equipment of $40.36 million, and restricted cash pledge for a bank facility of $22.98 million.Moving forward, Heeton will maintain a prudent and steady strategic expansion in light of the uncertain economic outlook in Singapore and the uncertain geopolitical paradigm under Trump’s administration. As the hospitality industry continues to face several challenges, Heeton will focus on being a bespoke boutique brand that offers high-quality, experiential stays for its guests.Heeton is also actively participating in land tenders in the local residential market, often as part of a consortium. Additionally, the group’s two retail malls are expected to continue generating steady and recurring income for its property investment business. In line with this, the group has declared a final dividend of 0.5 cents per share for the current financial period.Shares in Heeton closed 0.5 cents lower or 1.818% down at 27 cents on Feb 20.…

Singaporean property developer and businessman Que Neo, known for his boutique developments, aims to create residential projects that cater to his personal preferences. His latest project, K Suites, located in the prime East Coast area of District 15, is set to be completed in the first quarter of 2025.

K Suites is highly sought after due to its convenient location, providing easy access to the beach, East Coast Park, shopping malls, the central business district (CBD), and Changi Airport. According to Neo, it takes only 10 minutes to reach the airport and downtown via the East Coast Parkway and Pan-Island Expressway.

Additionally, K Suites is situated near public transportation, including a bus stop just 50 meters away. The nearest MRT stations, Marine Parade on the Thomson-East Coast Line (TEL) and Eunos on the East-West Line (EWL), are only two bus stops away.

The cityscape of Singapore is characterized by towering skyscrapers and state-of-the-art infrastructure. Condominiums, strategically located in desirable locations, offer a fusion of opulence and convenience that caters to the preferences of both locals and foreigners. These residences are equipped with an array of facilities including swimming pools, fitness centers, and round-the-clock security, elevating the overall living experience and making them an attractive option for potential tenants and buyers. For investors, these desirable features equate to higher rental returns and appreciating property values over time. Singapore Projects offer a diverse selection of these coveted condos for those looking to invest in the thriving real estate market of Singapore.

The close proximity to public transport also allows for easy access to popular schools, with PCF Sparkletots @ Joo Chiat located just two doors away. Families with young children can also choose from popular primary schools like Tao Nan School, Haig Girls’ School, and CHIJ (Katong) Primary, all situated within 1km of Telok Kurau. Prestigious secondary schools such as Dunman High School, Tanjong Katong Secondary School, and Tanjong Katong Girls’ School are also in the vicinity.

K Suites is designed by JGP Architecture, with a sleek and contemporary aesthetic facade thanks to its curtain wall system. This design also allows for ample natural light and unblocked views of the surrounding neighborhood. The apartments feature regular layouts with 3.5m to 4.5m ceiling heights, while the duplex penthouses boast a 7m ceiling height. German brand fittings, top-end Miele kitchen appliances, Duravit sanitaryware, and Grohe bathroom fittings are used throughout the units.

The project also offers a wide range of facilities for residents to enjoy, including a swimming pool, Jacuzzi, barbeque pit, lounge area, gym, outdoor fitness area, and playground. The development also features a grand arrival and drop-off area, and a surface car park with 16 parking spaces and two electric vehicle charging stations.

The first phase of ten units of K Suites, a freehold development, was sold out since its preview in September 2022, with most of the buyers being Singaporeans, mainly professionals such as doctors, lawyers, and corporate executives.

The remaining units, including four three-bedroom units ranging from 797 to 872 sq ft and 11 four-bedroom units ranging from 1,076 to 1,130 sq ft, are now available for purchase. The project also offers five-bedroom penthouses ranging from 1,625 to 1,679 sq ft, of which one is still available for sale. These units have been popular with large families, with one unit purchased by a family with four children.

K Suites is highly sought after by upgraders and those looking for a freehold property in the prime District 15 area. Another selling point is its ground-level units, which offer a 4.5m ceiling height and overlook the landscaped garden and facilities.

The latest transaction for a three-bedroom unit on the fourth floor of the five-story block was sold for $2.13 million ($2,443 psf) in November. According to Neo, K Suites is the most affordable new freehold project in District 15.

Huttons Data Analytics found that prices of selected boutique developments in District 15 have appreciated over 100% since their launch, with units at Malvern Springs selling at prices 234.2% higher since its launch in January 2002. Over the past five years, monthly median rents at some boutique condos in Telok Kurau and Joo Chiat have risen by 76.5%, making it a favorable area for investors.

Apart from its prime location, District 15 is popular with expatriate tenants due to its lifestyle offerings, including proximity to the beach, East Coast Park, and a wide array of F&B options and shopping malls. With the completion of K Suites and the growing positive market sentiment, the remaining units are expected to be snapped up quickly.…

: URA Keywords Savills Singapore, private residential market, rental market, rental demand, rental prices, rental transactions, leasing marketSavills Singapore expects flat rental growth for private residential market this yearAlthough private housing rents recorded a modest rebound in 4Q2024, inching up 0.2% q-o-q in the last three months last year, landlords should expect rental growth to be flat this year, according to a market report by Savills Singapore.The relatively poor performance of the non-landed private residential market in the first three quarters of 2024 largely contributed to rents falling by 1.7% over the whole of 2024. This represents the first full-year decline since the leasing market recorded a 0.5% y-o-y drop in 2020.There were 19,733 leasing transactions in 4Q2024, which marked a quarterly decline of 24.2%. According to Savills, this is likely due to a decrease in net new rental demand as the number of employment pass (EP) and S pass holders fell last year, in combination with a year-end seasonal lull in rental activity.It noted that the bulk of the decline in leasing activity last quarter stemmed from a 30.8% q-o-q drop in rental contracts for landed homes islandwide. Leasing volumes for apartments and condos also saw a 23.7% q-o-q decrease over the same period. However, despite the decrease in leasing activity, Savills added that there is still some growth in rental demand as rents in the private residential market have stabilised.However, landlords should expect flat rental growth this year, with relatively more affordable rents found in suburban areas, which enable tenants to prioritize lifestyle options such as more spacious units, connectivity to MRT stations, malls, and recreational activities. In 4Q2024, Parc Esta emerged as the development with the most number of condo leasing deals, recording 163 rental transactions at a median rent of $6.84 psf per month.Other developments that saw a high number of rental transactions include Marina One Residences (126 transactions at $6.62 psf pm), The Sail @ Marina Bay (126 transactions at $6.72 psf pm), Normanton Park (120 transactions at $6.26 psf pm), and D’Leedon (107 transactions at $5.43 psf pm).In terms of rental price growth, the Outside Central Region (OCR) saw average rents decline by 0.8% q-o-q in 4Q2024. Meanwhile, rents in the Core Central Region (CCR) and Rest of Central Region (RCR) grew by 0.9% q-o-q and 0.3% q-o-q, respectively, reflecting the trend of tenants in suburban locations shifting to more central neighborhoods, driven by relatively more reasonable rents.Savills also observed a slight rebound in the luxury rental market, with the average monthly rent of high-end condos increasing by 1.7% q-o-q in 4Q2024 to $5.85 psf pm. The luxury rental market had previously seen consistent declines in the preceding five quarters.However, looking ahead, landlords will likely face headwinds in the rental market as companies continue to reduce headcounts and hire fewer expatriates, says Alan Cheong, executive director of research and consultancy at Savills Singapore. He adds that landlords also face higher property taxes for non-owner-occupied residential properties, as well as increased conservancy charges due to upward inflationary pressures.Despite the challenges, the relatively tight supply of large luxury properties on the rental market may help landlords resist underpriced rental offers, according to Cheong. Additionally, he expects that interest rates will likely take longer to fall and result in mortgage payments to remain at current levels for longer.The saving grace for the rental market in 2025, according to Cheong, is the fewer new completions of private homes expected. Higher property taxes on investment properties will also turn landlords off from accepting low ball rental rates. Furthermore, he anticipates that the pool of expat tenants may reduce as a result of the widespread adoption of AI reducing overall manpower requirements for some high-tech firms and companies continuing to reduce hiring of white-collar professionals.

Selecting an ideal location for real estate investment is crucial, and this holds particularly true for properties in Singapore. Condos positioned in central areas or in close proximity to important amenities such as schools, shopping centers, and public transportation hubs have a higher potential for appreciation in value. Prime locations like Orchard Road, Marina Bay, and the Central Business District (CBD) are prime examples of areas where property values have consistently shown growth. Additionally, the presence of reputable schools and educational institutions in these areas makes investing in condos a highly desirable option for families, further solidifying their investment potential. With the right location, a condo can be a wise and profitable investment in Singapore’s real estate market.…

CBRE is the sole marketing agent for the 27-room Hotel Clover, located at 7 Hongkong Street. This boutique hotel is currently on the market with a guide price of $27 million. Along with this, CBRE is also responsible for the sale of a commercial building, situated at 36 Hongkong Street, which is going for a guide price of $22.6 million.

When considering investing in Singapore, it is crucial for international investors to be familiar with the regulations and limitations surrounding property ownership. Buying a condominium is generally less restricted for foreigners compared to purchasing landed properties, which have more stringent ownership guidelines. However, foreign buyers are subject to the Additional Buyer’s Stamp Duty (ABSD), currently set at 20% for their initial property purchase in Singapore. Despite these extra expenses, the stable and promising future of the Singapore real estate market continues to draw in foreign investment. To explore more options for investing in Singapore, you can check out Singapore Condos.

The 99-year leasehold site where the hotel sits spans over 1,701 square feet, with a zoning of “hotel” and a plot ratio of 4.2 under the latest Master Plan. There are about 89 years remaining on the land tenure. The total floor area of the six-storey hotel is 7,142 square feet, translating to a price of $3,780 per square feet on the floor area.

Similarly, the five-storey commercial building at 36 Hongkong Street is built on a 1,733 square feet plot, with a zoning of “commercial” and a plot ratio of 4.2 under the Master Plan. This 99-year leasehold site has a remaining land tenure of 93 years. The building’s total floor area is 7,279 square feet, with a guide price of $3,105 per square feet. The ground floor of the building is currently leased to a bridal shop, while the upper floors house offices.

The executive director of capital markets at CBRE Singapore, Clemence Lee, explains that both properties have appealing remaining land tenures in comparison to other 99-year leasehold properties available for sale in the CBD area. These assets would also be suitable for owner-occupiers looking for a flagship property with naming rights at a reasonable price for their exclusive operations.

As both properties are classified as hotel and commercial properties, foreigners and companies can purchase them without incurring Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) on the transactions. The properties are located in Clarke Quay, a well-established riverfront lifestyle precinct with various renowned restaurants, bars, boutique hotels, and fitness studios. Both assets are conveniently situated near Clarke Quay MRT Station, on the North-East Line.

According to Lee, the nearby CQ@Clarke Quay will soon undergo a $62 million asset enhancement initiative. Additionally, the upcoming completion of two new large-scale integrated developments, Canninghill Piers and Union Square, will further add to the vibrancy of the area. He also believes that the properties at 7 and 36 Hongkong Street have tremendous potential for future rental growth and capital appreciation in the medium to long term.

Both properties will be up for sale in an expression of interest exercise, which closes on March 26. Interested parties can check out the latest listings for Commercial Real Estate properties and compare the price trend between Commercial and Industrial properties as well as the trends in the price and rental transactions for commercial real estate.…

; Elta Castillion to open for sale in MarchDiscounted cash deals for landed properties fall to new low in Q4 2020: ReportSingapore’s private residential market closes 2024 with 5.7% gainResale condo prices dip 0.5% in 2024, while resale HDB prices inch up 0.2%: SRXEdgeProp Research: Median transacted prices of shoebox units continue to weaken in 2024URA launches sites at Ang Mo Kio Ave 1 and Jalan Jurong Kechil for highest-bidder saleRecord prices set for 3 HDB resale flats in Q4 2020Tender launched for commercial site at Tanjong Katong RoadClose to $2 bil of SBRs offered to public understood to have been oversubscribed for the Q1 2021 subscription page

The discussion of new property cooling measures, upcoming housing supply from government land sales (GLS) and Build-To-Order (BTO) launches, as well as announcements from Budget 2025 that may affect the real estate market, were the highlights of EdgeProp Singapore’s Property Market Outlook event held on Sunday, Feb 16.

The panel discussion, moderated by EdgeProp Singapore CEO Bernard Tong, featured three industry experts: Alan Cheong, executive director of research and consultancy at Savills Singapore; Wong Xian Yang, head of research, Singapore and Southeast Asia at Cushman & Wakefield; and Song Seng Wun, Singapore economic advisor at CGS International.

The event, organised by EdgeProp Singapore, took place at the Elta sales gallery, a new 501-unit project jointly developed by MCL Land and CSC Land Group. The sales gallery opened for public preview on Feb 7.

In January, the government hinted at the possibility of implementing additional property cooling measures and stated that it was not yet time to relax existing measures. As a result, developers sold 1,083 new private residential units (excluding executive condos) last month, an increase of 256% compared to the previous year.

According to Cheong, if new cooling measures are introduced, the government is likely to implement a measure that applies uniformly across the residential market. The panel also discussed the possibility of new measures targeting the resale market of HDB flats.

Wong noted that the HDB resale market acts as a “floor” for the housing market in Singapore, and any increase in price there will have an upward effect on prices in the private housing segment. He adds that the government may consider adjusting the seller’s stamp duty (SSD) and introducing stricter loan restrictions.

On the other hand, Tong pointed out that the government plans to boost the supply of GLS and BTO units to meet housing demand. The first half of 2025 GLS program includes 10 sites on the Confirmed List, with a potential yield of 5,000 new homes, while HDB plans to release 19,600 BTO flats in 2025.

Under the new BTO categorization, newly launched Prime and Plus BTO flats will take around 14 years to enter the resale market, and their impact on prices will only be felt much later on, according to Cheong. Wong adds that prices in the resale market tend to follow project completions and HDB estates completing their minimum occupation period (MOP), rather than the pipeline of GLS sites up for tender each year. “In terms of prices, project completions, rather than GLS supply, are more likely to influence prices,” says Wong.

Despite this, all three panelists agree that the strong success of recent new launches indicates a positive buyer sentiment for projects hitting the market this year. For example, Elta attracted approximately 4,500 visitors during its first three days of public preview. Other recent launches this year, such as The Orie and Bagnall Haus, also saw strong sales rates of 86% and 63%, respectively.

The panelists also discussed Budget 2025 and any measures that could potentially impact the property market this year.

Song believes that Singapore has seen a relatively strong economic recovery since the recession caused by the Covid-19 pandemic. As it is an election year, he predicts that Singaporeans can expect more government handouts funded by surpluses from healthy government revenue collections in the past three years.

The panelists also took questions from the audience, with some participants questioning whether the residential property market was currently in an “euphoric” phase.

Cheong commented that the current sense of market exuberance will likely subside as developers strategically time the launch of new projects. He adds that several launch-ready projects are located in neighborhoods that have not seen a new launch in several years. “If a specific location hasn’t seen a new launch in around five or six years, demand tends to build up over time,” he says.

Some attendees also inquired about the rental market this year, which has slowed down since its peak two years ago. Cheong notes that while the total number of expatriates in Singapore has decreased in the past year, 2024 saw an increase in the number of rental transactions. He explains that this may be due to falling rents, which encouraged some renters to stop flat-sharing and find their own accommodation. However, he adds that this is offset by layoffs in the technology and finance sectors this year, which may moderate rental price growth.

During the event, Tong also presented a session of EdgeProp’s Master Plan Master Class, which covered upcoming transformation plans in Clementi and Jurong East.

He noted that the completion of the second phase of the Cross Island Line (CRL) will add a new MRT station (West Coast) and turn the existing Clementi station into an interchange. “Historically, MRT interchanges tend to have a positive impact on surrounding property prices,” says Tong.

Transformation plans in Clementi include the redevelopment of Clementi Stadium and the installation of more than 6.6km of cycling paths in the area. The housing demand in Clementi is also expected to benefit from the progressive development of the Jurong Lake District and the new jobs created in the nearby Tuas megaport, Tuas Biomedical Park, Jurong Island, and Jurong Innovation District.

According to data compiled by EdgeProp Singapore, the average age of existing condos in Clementi is about 17 years. Tong notes that recent new projects in Clementi have seen strong increases in capital gains over the years. This includes Clavon (24% increase since launch) and The Clement Canopy (43% price growth since launch) – both projects are located near Elta.

The scarcity of land in Singapore has created a soaring demand for condos in the city. As a small and densely populated island, Singapore faces challenges in finding available land for development. This has resulted in strict land use regulations and a fiercely competitive real estate market, where property prices continue to rise. With this trend, investing in real estate, especially in Singapore Condo, has become a highly profitable option with the potential for significant capital gains.

The data is from EdgeProp Singapore’s suite of property tools designed to help owners, buyers, and sellers understand market and price trends, such as HDB resale prices, analytics of profitable transactions, and upcoming GLS sites.…