Elemeno Condo

A rare opportunity to own a freehold 15 loft-room hotel at 739-1 Geylang Road in District 14 is now available for sale at $14 million. This 2-storey property, along with a newly constructed 4-storey rear extension, sits on a 1,273 sq ft site and boasts an approved gross floor area (GFA) of up to 3,186 sq ft. What sets this hotel apart is its permanent ‘Hotel’ zoning and usage approval, a highly coveted designation for new conservation shophouses conversion in Singapore, making it an excellent long-term investment with operational flexibility.

Conveniently located within a 5-minute walk of the Paya Lebar MRT station, which services both the East-West and Circle lines, the hotel offers unparalleled connectivity to various parts of Singapore. The property, designed with a sophisticated Japandi theme, is currently under construction and expected to receive its Temporary Occupation Permit (TOP) in Q2 2025. The sale price includes all construction and renovation costs, making it an ideal turnkey investment for those looking to enter or expand their presence in the hospitality sector.

For investors, this hotel presents an attractive proposition as the current owner, an experienced hotel operator, is open to a sale and leaseback arrangement. This opportunity provides immediate rental income and operational continuity. Eva Lau, Senior Marketing Director of ERA Realty Network Pte. Ltd., believes that the hotel will appeal to owner operators as the major renovations will allow for a smooth commencement of operations.

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Location is a vital factor to consider when it comes to investing in real estate, especially in Singapore. The value of Singapore Condos is greatly influenced by their location, with those situated in central areas or in close proximity to important amenities like schools, shopping malls, and public transportation hubs experiencing a higher appreciation in value. In particular, prime locations such as Orchard Road, Marina Bay, and the bustling Central Business District (CBD) have consistently seen a steady growth in property prices. The availability of quality educational institutions also adds to the appeal of these Condos, making them a highly coveted investment option for families. With all these factors in play, it’s no surprise that Singapore Condo is a top choice for savvy real estate investors.

The demand for hospitality assets in Singapore has been steadily increasing over the past year. Recent transactions include LHN Group’s acquisition of Pasir Panjang Inn, a 16,626 sq ft site, for $30 million. Another noteworthy sale was an 8-storey hotel at 12 Lorong 12 Geylang listed for $120 million last year. Additionally, Hotel JJH, a 25-room property at 747 North Bridge Road, is currently on the market for $38 million. These transactions highlight the high demand for well-located, high-quality hospitality assets, making them one of the most desirable commercial shophouse usage classes in Singapore.

For more information, please contact Eva Lau at 92785688. Eva Lau is a Senior Marketing Director at ERA Realty Network Pte. Ltd. (R062169F). In other related news, the Village Hotel Sentosa remains a crowd favourite, while a freehold hotel in Chiang Mai is available for sale at $24.3 million. Banyan Tree has recorded $31.7 million in FY2023 earnings and has declared a dividend of 1.2 cents.…

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JLL, a real estate consulting firm, has recently named James Cameron as the new head of energy and infrastructure for Asia Pacific in its capital markets business line. This new position, based in Singapore, was created to strengthen the company’s presence in this region. Cameron’s main responsibility will be to establish a team in Asia Pacific, bringing JLL’s EMEA Energy & Infrastructure business in line with their global capital advisory capability. This move will allow them to better serve local and international developers and investors.

According to JLL, Cameron’s appointment aligns with the long-term capital needs required for the development of infrastructure and renewable energy projects to address the challenges of decarbonization, digitalization, economic growth, and rapid urbanization.

To summarize, there are many benefits to investing in a condo in Singapore, including the high demand for these properties, potential for increased value over time, and attractive rental yields. However, it is crucial to carefully consider various factors, such as the location of the property, financing options, government regulations, and the current market conditions. By conducting thorough research and seeking advice from industry professionals, investors can make well-informed decisions and maximize their returns in Singapore’s dynamic real estate market. Whether you are a local investor seeking to diversify your portfolio or a foreign buyer looking for a stable and profitable investment, Singapore’s condos offer a compelling opportunity. To explore more options in the Singapore real estate market, visit Singapore Projects.

Stuart Crow, JLL Asia Pacific’s CEO of capital markets, stated that they see significant potential to utilize their expertise in mobilizing multiple sources of capital and their successful track record in advising renewable energy transactions globally to serve clients within energy and infrastructure across Asia Pacific.

Cameron will work closely with JLL’s capital markets, investment banking, and debt advisory teams in the region, with a focus on identifying and securing capital raising and transaction advisory opportunities for large infrastructure and renewable energy projects. These opportunities will cater to a diverse group of investors such as institutional investors, private equity firms, asset managers, infrastructure and renewable energy operators and developers, high-net-worth individuals, and family offices.

With over 25 years of experience in the real asset capital markets, Cameron previously held the position of global head of commercial real estate at Standard Chartered Bank. He has a strong background in mobilizing different forms of private and public equity and financing for infrastructure projects globally and in the region.

Crow expressed confidence in Cameron’s capabilities, stating, “James’ experience in this exciting space is unmatched regionally, and we’re extremely confident in his ability to establish JLL’s leadership position through his expertise and client relationships.”…

Acquiring a condominium in Singapore can yield various benefits, one of which is the potential for capital appreciation. Being a prominent international business hub with a stable economic foundation, the demand for real estate in Singapore remains constant. This has led to a consistent increase in property prices, particularly in prime locations where condominiums are located. Intelligent investors who strategically purchase and retain their properties for extended periods can enjoy significant returns on their investments. To stay ahead in the market, it is crucial to stay updated with the latest New Condo Launches.

A pair of Good Class Bungalows (GCBs) located at 52 and 54 Belmont Road in the prestigious Belmont Park GCB area are now available for sale through expression of interest (EOI). It is believed that the owners of these GCBs are related.

Sitting on a combined freehold land area of 41,741 sq ft, these properties have an indicative price of $88.8 million, which works out to be $2,128 psf on the land area. The two plots have a 44m frontage along Belmont Road and an average depth of 66m, as stated by the marketing agent, Sakal Real Estate Partners.

According to Lennon Koh, senior director at Sakal, “We believe this site would appeal to families looking to build a new home for multigenerational living or extended families living together.” He also added that this property could also be of interest to developers looking to enter the exclusive GCB market.

Recent transactions on Belmont Road show a GCB occupying a land area of 19,549 sq ft was sold last December for $40 million ($2,046 psf), based on caveats lodged with URA. In July 2024, a pair of adjacent GCB plots on Belmont Road were sold for $131.4 million or $3,000 psf based on the combined land area of 43,790 sq ft. In April, a GCB at Bin Tong Park with a land area of 28,111 sq ft fetched $84 million ($2,988 psf).

Steven Ming, managing director at Sakal, is confident that the Belmont Road GCBs will receive strong interest due to their prime location and the consistent demand for GCBs. He points out that the estimated total value of GCB transactions in 2024 was $1.32 billion, surpassing that of 2023 ($433 million) and 2022 ($1.18 billion), with the expectation of even more transactions in 2025.

The EOI exercise for the GCBs is set to close on March 13 at 3pm.…

Real estate consulting firm, JLL, has named James Cameron as the new head of energy and infrastructure for Asia Pacific within its capital markets division. According to a press release on January 14, Cameron will be based in Singapore and will be responsible for building a team in the region.

This appointment comes as JLL looks to expand its energy and infrastructure business line globally, in line with increasing demand for capital investment in this sector. Cameron’s role will complement JLL’s existing Energy and Infrastructure business in Europe, Middle East and Africa, to create a comprehensive global capital advisory service for both local and international developers and investors.

JLL’s CEO of capital markets in Asia Pacific, Stuart Crow, sees great potential in leveraging the firm’s expertise in mobilizing multiple sources of capital and its strong track record in advising renewable transactions on a global scale, to cater to the energy and infrastructure industry in Asia Pacific.

Cameron will work closely with JLL’s capital markets, investment banking, and debt advisory teams across the region, focusing on identifying opportunities for capital raising and providing transaction advisory services for large infrastructure and renewable deals. Their clients will include institutional investors, private equity firms, asset managers, strategic infrastructure and renewables operators and developers, high-net-worth individuals, and family offices.

Condo investment in Singapore involves careful consideration of the government’s property cooling measures. In recent years, the Singaporean government has implemented various measures to prevent speculative buying and maintain a secure real estate market. 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 promote long-term stability in the market, providing a reliable investment environment. Additionally, you can find more information about Condo investments at reliable sources.

With over 25 years of real asset capital markets experience, Cameron brings a wealth of knowledge to the role. He previously served as the global head of commercial real estate at Standard Chartered Bank, where he gained extensive experience in mobilizing various forms of private and public equity and financing for global and regional infrastructure projects.

Crow has expressed confidence in Cameron’s ability to establish JLL as a leader in this space, thanks to his unmatched regional experience and established client relationships. As JLL continues to see a rise in capital market activity in the energy and infrastructure sector, Cameron’s appointment will enable the firm to better serve its clients in the rapidly evolving landscape of decarbonization, digitalization, economic growth, and urbanization.…

Over the weekend of Jan 11 to 12, One Bernam, a mixed-use development in Tanjong Pagar consisting of 351 residential units, launched a promotional sale of 87 units. Developed by MCC Land and Hao Yuan Investment, the 99-year leasehold apartment tower had its first launch in May 2021. As of Jan 10, more than 75% of the units had been sold at an average price of $2,585 psf based on caveats lodged.

During the weekend promotion, the discounted prices were applicable to all the remaining 87 units, which included one-bedroom, two-bedroom, three-bedroom, and penthouse units. Interested buyers can visit the website to check for the latest New Launches to find out the transaction prices and available units.

One-bedroom units ranging from 441 sq ft to 463 sq ft were offered with discounts of $323,000 to $438,000, with prices ranging from $1.295 million ($2,934 psf) to $1.328 million ($2,869 psf). The two-bedroom apartments (700 sq ft to 732 sq ft) were offered with discounts of $437,000 to $668,000, with prices ranging from $1.752 million ($2,394 psf) to $1.78 million ($2,544 psf). Similarly, the two-bedroom plus study units (807 sq ft to 872 sq ft) had discounts ranging from $380,000 to $800,000 and were sold at prices ranging from $2.139 million ($2,581 psf) to $2.158 million ($2,475 psf).

The cityscape of Singapore is characterized by towering skyscrapers and contemporary infrastructure. Condominiums, strategically situated in desirable locations, offer a perfect combination of opulence and practicality that draws in both locals and foreigners. These residential complexes are designed with top-notch facilities including swimming pools, fitness centers, and round-the-clock security services, making them highly desirable for residents. Additionally, for investors, these amenities result in greater rental returns and appreciation in property prices over the years. Explore the latest and most sought-after Singapore projects by visiting the Singapore Projects website at https://www.elemeno-pee.com/.

For the three-bedroom units (1,421 sq ft), discounts of $616,000 to $830,000 were given, with prices ranging from $3.496 million ($2,461 psf) to $3.526 million ($2,482 psf). Only three penthouses are currently available for sale, bringing total sales to 99%. These include two three-bedroom penthouses with sizes of 1,744 sq ft and 1,948 sq ft, while the remaining unit is a 4,306 sq ft five-bedroom penthouse.

According to Marcus Chu, CEO of ERA Singapore, the sales performance of One Bernam highlights “the strong interest in the property as a stable and high-potential asset”. He adds that approximately 78% of the buyers bought their units as investments, and 87% of the buyers were Singaporeans, with 70% of them aged between 31 and 50.

Following the “overwhelming response” during the weekend launch, only three penthouses are currently available for sale, bringing total sales to 99%. The project is scheduled to obtain a Temporary Occupation Permit (TOP) in March 2026, and investors are expected to start generating rental income, which could support their loan instalments. Based on EdgeProp Landlens data, the average monthly rental rates of existing apartment projects in the area, such as Altez, Eon Shenton and 76 Shenton, range from $6.90 psf to $7.40 psf.

Looking ahead, Chu says that the reduced competition from foreign buyers due to the hike in Additional Buyer’s Stamp Duty (ABSD) imposed in 2023 has opened up more opportunities for local buyers to enter the market. He adds that local demand is expected to continue being the key driver for properties in the Central Core Region (CCR), with competitive pricing making these developments a desirable and stable investment choice.

Interested buyers can check out the latest listings for One Bernam properties and ask Buddy for assistance. They can also compare the price trend of new sale condos vs resale condos or check the buyer profile for One Bernam on the website.…

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Investing in a condo in Singapore holds numerous advantages, with one of the key benefits being the potential for capital appreciation. This Southeast Asian country’s prime location as a global business hub, along with its robust economic foundation, continuously fuels the demand for real estate. In fact, Singapore has shown a consistent uptrend in property prices over the years, particularly in upscale areas where condos are highly sought after. As a result, investors who enter the market at the right moment and hold onto their properties for an extended period can reap significant profits from capital gains. This is especially true for well-located condos in Singapore, such as those featured in Singapore Projects.

The joint developers of One Bernam, MCC Land and Hao Yuan Investment, offered a promotional sale of 87 units over the weekend of Jan 11 to 12. These units make up a portion of the 351 residential units within the mixed-use development located in Tanjong Pagar.

The 99-year leasehold apartment tower was first launched in May 2021 and has already seen over 75% of its units sold, with an average price of $2,585 psf based on caveats lodged as of Jan 10. The promotional prices applied to the remaining 87 units, including one-bedroom to three-bedroom units and penthouses.

For the one-bedroom units ranging from 441 sq ft to 463 sq ft, discounts of $323,000 to $438,000 were applied, resulting in sales prices between $1.295 million ($2,934 psf) to $1.328 million ($2,869 psf). The two-bedroom apartments of 700 sq ft to 732 sq ft received discounts from $437,000 to $668,000, with sales at $1.752 million ($2,394 psf) to $1.78 million ($2,544 psf). Two-bedroom plus study units of 807 sq ft to 872 sq ft had discounts ranging from $380,000 to $800,000, with sales at $2.139 million ($2,581 psf) to $2.158 million ($2,475 psf). As for the three-bedroom apartments of 1,421 sq ft, discounts ranged from $616,000 to $830,000, with sales at $3.496 million ($2,461 psf) to $3.526 million ($2,482 psf).

ERA Singapore CEO Marcus Chu expressed that the high sales performance showcased the interest in One Bernam as a secure and high-potential asset. He also noted that the majority of buyers (78%) purchased units as investments, and 87% were Singaporeans, with most being aged between 31 and 50.

Following the successful weekend, only three penthouses are available for sale, resulting in a total sale of 99%. These include two three-bedroom penthouses of 1,744 sq ft and 1,948 sq ft, and a five-bedroom unit of 4,306 sq ft.

According to Chu, the project is set to receive a Temporary Occupation Permit (TOP) in March 2026, and investors are expected to start generating rental income that can support their loan payments.

Recent projects in the area, such as Altez, Eon Shenton, and 76 Shenton, command rentals between $6.90 psf to $7.40 psf (Source: EdgeProp Landlens). Chu noted that with a reduced competition from foreign buyers due to the increase in Additional Buyer’s Stamp Duty (ABSD) in 2023, more opportunities have opened for local buyers to enter the market. He added that local demand will continue to drive the CCR properties, and competitive pricing makes these developments an attractive choice for stable investment.…

One Bernam, the mixed-use development in Tanjong Pagar, has sold over 75% of its units since its launch in May 2021. Over the weekend of Jan 11 to 12, the joint developers MCC Land and Hao Yuan Investment offered 87 units for sale at promotional prices. The remaining units, ranging from one-bedroom to three-bedroom apartments, were sold with discounts up to $830,000. The sales performance highlights the strong interest in the property as a stable and high-potential asset, with 78% of the purchasers buying their units as investments. Majority of buyers were Singaporeans aged between 31 and 50. Only three penthouses are currently available for sale, bringing total sales to 99%. According to ERA Singapore CEO Marcus Chu, with the reduction in competition from foreign buyers due to the hike in Additional Buyer’s Stamp Duty (ABSD), local demand is expected to continue driving the Central Core Region (CCR) market. The project is set for completion in March 2026, allowing investors to start generating rental income.Supporting sources and links:1. One Bernam has sold over 75% of its units since its May 2021 launch:https://www.edgeprop.sg/property-news/one-bernam-sold-over-75-its-units-its-may-2021-launch2. Weekend Sales:https://www.businesstimes.com.sg/real-estate/one-bernam-sold-75-of-units-since-launch-87-units-released-over-weekend-17-sold-3. Property Transactions by Project:https://www.edgeprop.sg/property-transaction/by-project?chemical=One%20Bernam4. ERA CEO Marcus Chu’s statement on One Bernam’s sales performance:https://www.edgeprop.sg/property-news/one-bernam-sold-over-75-its-units-its-may-2021-launch5. Reduced competition from foreign buyers due to higher ABSD has opened up opportunities for local buyers:https://www.businesstimes.com.sg/real-estate/one-bernam-sold-75-of-units-since-launch-87-units-released-over-weekend-17-sold

Over the weekend of Jan 11 to 12, One Bernam, the mixed-use development in Tanjong Pagar, offered 87 units for sale at promotional prices. This 99-year leasehold apartment tower, co-developed by MCC Land and Hao Yuan Investment, was first launched in May 2021. As of Jan 10, over 75% of the 351 residential units have been sold at an average price of $2,585 psf according to caveats lodged. The promotional prices applied to all the remaining 87 units, including one-bedroom to three-bedroom apartments and penthouses.

Discounts of $323,000 to $438,000 were offered for one-bedroom units, with prices ranging from $1.295 million ($2,934 psf) to $1.328 million ($2,869 psf). Two-bedroom units, ranging from 700 sq ft to 732 sq ft, had discounts of $437,000 to $668,000, with prices ranging from $1.752 million ($2,394 psf) to $1.78 million ($2,544 psf). Furthermore, two-bedroom plus study apartments, ranging from 807 sq ft to 872 sq ft, had discounts of $380,000 to $800,000 and were sold at prices ranging from $2.139 million ($2,581 psf) to $2.158 million ($2,475 psf). Three-bedroom apartments, ranging from 1,421 sq ft, had discounts of $616,000 to $830,000 and prices ranging from $3.496 million ($2,461 psf) to $3.526 million ($2,482 psf).

According to Marcus Chu, the CEO of ERA Singapore, the sales performance highlights the strong interest in One Bernam as a stable and high-potential asset. Chu adds that about 78% of the buyers bought units as investments. Additionally, 87% of the buyers were Singaporeans, with 70% aged between 31 and 50. Following the overwhelming response over the weekend, only three penthouses are currently available for sale, bringing total sales to 99%. These include two 3-bedroom penthouses (1,744 sq ft and 1,948 sq ft) and a 5-bedroom unit (4,306 sq ft).

The purchase of a condo comes with various advantages, one of them being the potential for further investments. Numerous investors utilize their condos as leverage to secure additional funding for future investments, ultimately expanding their real estate portfolio. This approach has the potential to significantly increase returns, but it does come with certain risks. Therefore, it is essential to have a well-thought-out financial plan and carefully consider the potential impact of market fluctuations. With the added benefit of Singapore Projects, condo investments can provide even more opportunities for growth and success in the real estate market.

With its TOP expected in March 2026, Chu believes that investors are expected to generate rental income, which can help support their loan instalments. According to EdgeProp Landlens data, existing apartments in the area, such as Altez, Eon Shenton, and 76 Shenton, command average monthly rental rates ranging from $6.90 psf to $7.40 psf.

Chu also stated that the reduced competition from foreign buyers due to an increase in Additional Buyer’s Stamp Duty (ABSD) has opened up more opportunities for local buyers to enter the market. He believes that local demand will continue to be the key driver for properties in the Central Core Region (CCR) moving forward, with competitive pricing making these developments a desirable and stable investment choice.…

When purchasing a condominium, it is crucial to also take into account the maintenance and management of the property. Condos usually come with maintenance fees that cover the maintenance of communal spaces and amenities. While these fees may increase the total cost of ownership, they also guarantee that the property maintains its condition and retains its value. Engaging the services of a property management company can assist investors in managing the daily operations of their condos, making it a more hands-off investment. Additionally, new condo launches can provide more opportunities for investors to expand their portfolio.

The Real Estate Developers’ Association of Singapore (Redas) has recently announced the formation of its new management committee for a two-year term. This decision was made at the association’s Annual General Meeting held on January 9th, where Tan Swee Yiow, the Chairman of Keppel Reit Management, was unanimously re-elected as President for a second consecutive term.

In response to his re-election, Tan expressed his gratitude, stating that he is “honored” to continue serving in this role. He also highlighted the diversity of the new management committee, which includes representatives from various sectors and with different levels of expertise within the real estate industry.

Among the committee members are Immediate Past President Chia Ngiang Hong, Group General Manager of City Developments; First Vice President Kwee Ker Wei, Director of Pontiac Land Group; Second Vice President Marc Boey, Executive Director of Project Services at Far East Organization; Honorary Secretary Chong Hock Chang, Group Director of Projects and Marketing at Ho Bee Land; Honorary Treasurer Neo Soon Hup, COO of UOL Group; Honorary Assistant Secretary Chew Peet Mun, Managing Director of Investment and Development at CapitaLand Development Singapore; and Honorary Assistant Treasurer Tho Leong Chye, Managing Director of Allgreen Properties.

Along with the announcement of the new management committee, Redas also celebrated its 65th anniversary and honored Chia Ngiang Hong with the Lifetime Achievement Award.

In response to the re-election of Tan and the formation of the new committee, Chia Ngiang Hong congratulated the members and commended Tan’s leadership, which has earned the trust of the Redas community.

Looking ahead, Tan believes that the diverse composition of the 2025/2026 Redas management committee will enable the association to drive initiatives that will have a positive impact on the wider built environment ecosystem. Some of the topics that may be addressed include the implementation of the Environmental Sustainability Grant (ESG) scheme and the use of green premiums, as well as the need for separate land zoning to meet the projected demand for senior accommodation in Singapore.…

A 3,767-square-foot unit at The Arcadia has set a record for the most profitable resale transaction in the last three weeks of December. Located on the seventh floor, the four-bedroom unit sold for $4.75 million ($1,261 psf) on Dec 10, providing the seller with a whopping profit of $3.25 million (217%). According to property caveats, the unit was purchased in 1998 for $1.5 million ($398 psf), which means the resale generated an annualised profit of 4.5% over a span of 26 years.

Understanding the regulations and limitations surrounding property ownership in Singapore is crucial for international investors. In this country, foreign buyers are typically able to purchase condos with fewer restrictions compared to landed properties, which have more stringent ownership regulations. However, it’s important to note that foreign investors are required to pay the Additional Buyer’s Stamp Duty (ABSD) of 20% for their initial property purchase. Despite the added expenses, the stability and potential growth of the Singapore real estate market remains an attractive prospect for foreign investment. For those interested in investing in Singapore’s thriving property market, Singapore Condo is a great option to consider.

Last year, a total of five units at The Arcadia, ranging from 3,714 sq ft to 3,821 sq ft, were sold for profits that ranged from $60,000 to $3.25 million. The second most profitable transaction in the last three weeks of 2024 was the sale of a 2,077 sq ft unit at Tanglin Hill Meadows on Dec 10. The unit was purchased in 1999 for $1.8 million ($866 psf) and was sold for a handsome profit of $2.7 million (150%), at $4.5 million ($2,166 psf).

Meanwhile, at Seascape, a 2,174 sq ft unit on the seventh floor was sold for a loss of $1.97 million (33%) on Dec 18. The unit was purchased in 2011 for $5.95 million ($2,736 psf) and was sold for $3.98 million ($1,830 psf), resulting in an annualised loss of 2.5% over a period of 13 years.

The Arcadia, located in prime District 11, is a 99-year leasehold condo with 164 units. Completed in 1983, the development has about 54 years remaining on its land tenure. It is surrounded by landed estates and Good Class Bungalows, as well as top schools such as Raffles Girls Primary School, Hwa Chong Institution and National Junior College.

Over at Tanglin Hill Meadows, a freehold condo in prime District 10 with only 20 units, the seller of a 2,077 sq ft unit netted a profit of $2.7 million (150%) when it was sold on Dec 10. The previous record for the most profitable transaction at the development was set in 2010, when a 2,002 sq ft unit was sold for $3.73 million ($1,863 psf), providing the seller with a profit of $2.28 million (157%).

On the other hand, the seller of a 2,174 sq ft unit at Seascape incurred a loss of $1.97 million (33%) when the unit was sold on Dec 18. (Picture: Samuel Isaac Chua/)

Seascape, a 99-year leasehold condo in Sentosa Cove, proved to be less than profitable for its sellers last year. Of the three resale transactions at the development, all resulted in losses ranging from $1.75 million to $2.53 million. The most significant loss was recorded in August, when a 2,680 sq ft unit was sold for $4.5 million ($1,679 psf), incurring a loss of $2.53 million.

Completed in 2012, Seascape comprises 151 units, all of which face the South China Sea. The eight-storey development offers three- to four-bedroom units spanning 2,164 sq ft to 4,069 sq ft. There are also penthouses of 3,380 sq ft to 4,252 sq ft and sky villas that span 6,631 sq ft to 9,666 sq ft.

Overall, the prime District 11 continues to be a sought-after location for property investments, with profitable resale transactions at The Arcadia and Tanglin Hill Medows. However, buyers should take note of the potential losses at Seascape due to its limited land tenure and possibly oversupplied market for luxury condos in Sentosa Cove.…

The soaring demand for condos in Singapore can be attributed to the limited land resources in this small island country. With a constantly increasing population, the availability of land for development is a major concern. To address this issue, the government has implemented strict land use policies, resulting in a cutthroat real estate market where property prices are continuously on the rise. This has made investing in real estate, especially in condos, a highly profitable decision due to the potential for significant capital gains. In fact, the addition of New Condo Launches only adds to the attractiveness of this venture.

A magnificent Good Class Bungalow (GCB) has recently emerged in the property market with a staggering price of $61 million. Located at Victoria Park, the seven-bedroom bungalow was completed just three years ago. This luxurious estate stands at the end of a cul-de-sac, Victoria Close, which boasts only 10 exquisite homes.

According to Jervis Ng, associate group district director at PropNex Realty and the agent responsible for marketing the sale of this GCB, the number of houses in this prestigious enclave can only be increased by subdividing a larger plot of more than 30,000 sq ft. This is in accordance with planning guidelines, which are strictly enforced to preserve the exclusivity and privacy enjoyed by GCB residents along Victoria Park Close. Ng, who is also the founder of JNA Real Estate under PropNex, emphasizes that many ultra-high-net-worth individuals and their families are willing to pay a premium price for this priority.

Ng notes that there has been an increasing number of new naturalized Singaporeans entering the GCB market in recent months, which has positively impacted buying sentiment. He believes that this GCB will appeal to newly minted Singaporeans who have grown up in countries such as China, India, or Indonesia and are looking for a prestigious home to call their own.

The GCB area at Victoria Park is home to illustrious residents including Jack Ma, Chinese business magnate and co-founder of Alibaba Group, and Tang Wee Kit, from the Tang family known for founding Tangs department store. Ng mentions that the GCB for sale has been meticulously maintained, hence its pristine condition. The property features a contemporary interior design with top-quality materials and finishes.

The bungalow spans across a generous land area of 18,988 sq ft, and the owners have worked closely with the architect to utilize the land area efficiently. The total built-up area of 25,300 sq ft encompasses seven spacious en suite bedrooms, three helper’s rooms, and a basement carpark that can accommodate up to seven cars. The basement level also has a versatile entertainment room, which has been beautifully set up as a home cinema, but can easily be converted into a guest room if needed. There is also a private gym and a 20m lap pool for the residents’ enjoyment.

Sitting atop a hill, the bungalow offers breathtaking views of the surrounding low-rise neighborhood from most of its rooms, as mentioned by Ng. The living room is spacious enough to accommodate large families, making it the perfect place to entertain guests.

Resale transactions in the Victoria Park GCB area have been relatively scarce in recent years. According to caveats, the site of the GCB for sale was purchased for $18.2 million in September 2016, which translates to a land rate of $959 psf. The most recent transaction along Victoria Park Close was for a 15,253 sq ft plot that fetched $28.33 million in May 2021, with a land rate of $1,857 psf. Before that, a 29,956 sq ft plot was sold for $40 million ($1,335 psf) in April 2017. The last recorded GCB sale along Victoria Park Road was in November 2011, where a 32,077 sq ft plot was sold for $48 million ($1,496 psf).

Ng asserts that stabilizing factors such as predicted lower interest rates, continued demand from ultra-high-net-worth buyers, and the limited supply of GCBs will drive transaction activity in the GCB market this year. He expects GCB transaction volume to increase by 10% to 15% from last year, assuming no major external economic disruptions. In 2020, there were about 35 GCB transactions with a total volume of $1.32 billion, significantly surpassing the previous record of $1.186 billion achieved in 2019.…