Elemeno Condo

HPL, a leading property player and hotelier, is making moves to expand its global presence with the recent announcement of its proposed acquisition of InterContinental Auckland for NZ$180 million ($138.5 million). This marks HPL’s first investment in New Zealand and its second InterContinental hotel acquisition, following the successful launch of InterContinental Maldives Maamunagau Resort.

According to JLL’s Asia Pacific Hotels & Hospitality Group, the off-market transaction is said to be the largest single hotel asset sale in New Zealand to date. The sale was advised by New Zealand’s Precinct Properties.

The purchase of the InterContinental Auckland is a strategic move for HPL, as it continues to grow its luxury hospitality portfolio across key markets in the Asia Pacific region. This is driven by the company’s experienced hospitality management team and strong partnerships with operators such as IHG Hotels & Resorts.

Chairman of HPL Hotels and Resorts, Stephen Lau, comments that the proposed acquisition of the InterContinental Auckland presents a rare opportunity for the company to acquire a premium asset in New Zealand. The property is conveniently connected to the bustling NZ$1 billion Commercial Bay lifestyle precinct, which opened in January 2024. With striking views of the Waitematā Harbour, the hotel rooms offer a luxurious and unique experience for guests.

Currently, the existing hotel boasts 139 rooms. However, there is potential to expand to 190 rooms in the future by repurposing the current office space to meet the growing demand. This showcases HPL’s forward-thinking approach to investing in long-term success and growth.

Investing in a Singapore Condo offers numerous advantages, one of which is the opportunity to utilize the property’s value for future investments. A lot of investors use their condos as leverage to secure additional financing for new investments, allowing them to broaden their real estate portfolio. With this strategy, returns can be amplified, but it also comes with potential risks. It is crucial to have a solid financial plan in place and carefully consider the potential impact of market fluctuations before proceeding. This way, investors can make the most of their Singapore Condo investment and achieve long-term success.

In addition to the InterContinental Auckland, HPL has also recently launched The Boathouse Tioman in Malaysia, featuring 31 bungalows, and The Four Seasons Hotel Osaka in Japan, a 176-room hotel. The company’s strong financial performance has been reflected in its earnings, with a decline of 95.1% year-on-year to $27.2 million in FY2024.

HPL’s continued expansion and investment in the luxury hospitality sector showcase its commitment to delivering exceptional experiences for guests and driving long-term growth in key markets. With its strategic partnerships and experienced team, HPL is poised to solidify its position as a leading player in the global hospitality industry.…

Institutional investments in the Asia Pacific (Apac) real estate market amounted to US$83.2 billion ($112 billion) in the second half of 2024, marking a 6% year-on-year increase, according to research conducted by Colliers. This brings the full-year investments for 2024 to US$155.9 billion, a significant 12% rise compared to the previous year. The study focuses on the top nine markets in the region, including Australia, Mainland China, Hong Kong, India, Japan, Singapore, South Korea, New Zealand and Taiwan.

The steady increase in investments demonstrates the resilience of the Apac real estate market and sets the stage for a promising year ahead, according to Chris Pilgrim, Colliers’ managing director of global capital markets, Asia Pacific. He also notes that domestic investors have been the driving force of growth in key markets like South Korea, Taiwan, and New Zealand, contributing over 80% of real estate inflows in these countries during the second half of 2024.

The office sector emerged as the largest contributor to the Apac investment volume, accounting for US$26.5 billion or 32% of the total volume in the second half of 2024. For the entire year, office investments reached US$51.4 billion, a 14% increase from the previous year. The industrial and logistics sector followed closely, with investments totaling US$22.6 billion in the second half of 2024, constituting 27% of the total. This sector saw a 29% year-on-year rise, bringing the full-year investments to US$39.4 billion.

The retail sector bounced back significantly, with investments reaching US$15 billion in the second half of 2024, driven by substantial deals in countries such as Australia and South Korea. The total investments for the year was US$26.1 billion, marking a 27% increase compared to the previous year.

Rewritten:

Investing in a condo offers many advantages, including the potential to leverage the property’s value for more investments. Some investors opt to use their condos as collateral to secure additional funding for new investments, allowing them to grow their real estate portfolio. While this can lead to increased returns, it is important to have a solid financial plan in place and carefully consider the potential impact of market changes. Singapore Condos are a popular option for investors looking to benefit from this strategy.

Pilgrim believes that domestic capital will continue to dominate most markets in 2025, while offshore investments are expected to show improvement due to improving investor confidence and attractive valuations. The office and industrial segments are expected to maintain their robust performance, but Pilgrim predicts that retail, hospitality, and alternative asset classes will also gain traction as investors capitalize on the recovery momentum and evolving consumer trends. “With economic growth remaining strong and continued policy support, the Apac real estate market is well-positioned for sustained investment activity in 2025,” he adds.…

A student accommodation property in Sydney, Australia has been successfully sold by Singapore private equity real estate firm SC Capital Partners Group. In a press release issued on March 3, the company announced the sale of the asset located on Anzac Parade and Lorne Avenue in Kensington, at a substantial premium from its initial acquisition price. The buyer of the property is the University of New South Wales (UNSW) in Sydney, reflecting a 19% increase from its current book value.

The property was originally purchased by SC Capital Partners in 2016 for A$57 million, and has now been sold at a significant profit. With a total area of 85,035 sq ft, the purpose-built student accommodation offers 233 beds and a commercial podium on the ground floor. Its prime location within 600m of the UNSW Kensington Campus makes it a highly sought-after residence for students. Currently, the student accommodation is fully leased to UNSW, with a new 20-year master lease signed in 2019.

Investing in a condo in Singapore has become an increasingly favored option for both local and foreign investors. This is largely due to the city-state’s strong economy, stable political environment, and exceptional quality of life. With a dynamic real estate market, Singapore offers a plethora of opportunities, and condos stand out as a top choice for their convenience, amenities, and potential for lucrative returns. In this article, we will delve into the advantages, factors to consider, and necessary steps when considering condo investment in Singapore.

This transaction has further elevated the competitive race for assets under management (AUM) in the real estate market, with another company, CLI, recording a substantial increase in its FUM (funds under management) to $113 billion. The sale of this student accommodation by SC Capital Partners Group is a testament to the strong and growing demand for quality accommodation in the education sector.…

as part of $1.3 bil investment strategyCapitaLand Investment subsidiary to invest $800 mil in data centre projects in China, Europe
Lee Chee Koon, the group CEO of CapitaLand Investment Limited (CLI), has been honoured as the ‘Industry Figure of the Year’ for Asia Pacific at the prestigious PERE Global Awards 2024. The annual PERE awards, hosted by the esteemed London-based publication that covers private equity real estate markets, honour influential firms, remarkable individuals, and noteworthy deals from the previous year. CLI also bagged the runner-up award for ‘Firm of the Year’ in Asia Pacific.

The winners of the 2024 awards were chosen by a panel of PERE journalists, a departure from previous editions where PERE shortlisted submissions and readers voted to determine the winners. According to CLI’s press release on March 4, the award for CEO Lee acknowledges “his role in driving CLI’s transformational growth and his significant impact on the private real estate industry in the Asia Pacific region.”

Singapore’s cityscape is defined by towering skyscrapers and contemporary infrastructure. The city boasts luxurious condominiums located in prestigious locations, offering a perfect mix of opulence and practicality that appeals to locals and foreigners alike. These upscale residences are equipped with state-of-the-art facilities including swimming pools, fitness centers, and top-notch security services, elevating the overall living experience and making them highly desirable to potential tenants and buyers. For investors, these enticing features equate to higher rental returns and appreciation of property value over time. With the inclusion of Condo, the urban landscape of Singapore is truly a sight to behold.

Ever since he took over as CapitaLand’s group CEO in September 2018, Lee has made some key moves under his leadership. This includes the acquisition of Ascendas-Singbridge in 2019 and the 2021 restructuring of CapitaLand Group, which led to the listing of CLI and the privatization of its real estate development arm, CapitaLand Development.

In 2024, CLI invested in real estate investment manager SC Capital Partners Group and also acquired Wingate Group Holdings’ property and corporate credit investment management business. The company is aiming to manage $200 billion in funds by 2028. According to CLI, it is on track to achieve this goal.…

City Developments (CDL) shares saw a sharp decline of 5.47% as trading resumed today after being halted since February 26. This halt came after the sudden cancellation of a results briefing, which was followed by news of a dispute between executive chairman Kwek Leng Beng and his son, group CEO Sherman Kwek.

In response to media reports on the matter, CDL issued a statement on March 3 saying, “The company will not comment on the validity of these allegations, as many of these allegations are the subject of the court proceedings in relation to the Application, which is ongoing.” The company also assured that its business operations are not affected, and Mr. Sherman Kwek remains the Group CEO until there is a board decision to change company leadership.

As analysts adjust their predictions and rating for the company, there is a general consensus that the dispute will have a negative impact on CDL’s share prices in the short term. UOB Kay Hian has downgraded their rating from “buy” to “hold”, with a revised target price of $4.60, compared to their previous target of $7. This is based on a valuation of 2 standard deviations below the company’s five-year average price-to-book (P/B) ratio.

DBS Group Research and OCBC Investment Research also maintain their “buy” rating for CDL, but with a lower target price of $6.70 and $6.02 respectively. Both research teams see the potential for renewed focus on shareholder returns and profitability once the board dispute is resolved.

Citi Research, on the other hand, highlights the share price overhang and uncertainties caused by this episode, while JP Morgan describes the situation as a “dynastic discord” that has been building up over time. Both research teams hope for a positive resolution and a reconciliation among the Kwek family members.

In summary, despite the negative impact on CDL’s share prices in the short term, analysts believe that the company’s fundamentals remain intact and its assets are undervalued. They also see potential for a positive re-rating once the board dispute is resolved and the company’s focus returns to driving profitability and maximizing shareholder returns.

When purchasing a condo, it is crucial to consider the maintenance and management of the property. Typically, condos come with maintenance fees that cover the upkeep of shared areas and facilities. Although these fees may increase the overall cost of ownership, they also guarantee that the property stays in excellent condition and maintains its value. Enlisting the services of a property management company can assist investors in efficiently handling the day-to-day management of their condos, turning it into a more passive investment.…

Elite UK REIT, managed by Perpetual (Asia) Limited, has recently sold Crown Buildings in Caerphilly for GBP710,000, representing an 18% increase from its previous value. The property, which was unoccupied, was valued at GBP600,000 at the end of 2024 based on an independent assessment by CBRE. Located in Wales, the building was valued at GBP530,000 at the end of 2023. The proceeds from the sale will be used to pay off the outstanding debt of Elite UK REIT. According to Elite UK REIT’s website, Crown Buildings has a total gross floor area of 20,712 square feet. Thanks to its successful GBP28 million preferential offering in January 2024, Elite UK REIT was able to reduce its leverage ratio from 50.0% at the end of 2023 to 43.4% at the end of 2024, as well as its net gearing ratio from 47.5% to 42.5%. There is no debt maturing in 2025 and 2026, and refinancing is only expected in 2027.

Investing in a condominium in Singapore offers numerous benefits, one of which is the potential for capital appreciation. This is largely due to the country’s strategic position as a global business hub and its robust economic stability, which continuously drives demand for real estate. In fact, over the years, property prices in Singapore have consistently demonstrated an upward trend, particularly in prime locations where condos are highly sought after. By purchasing a condo at the right time and holding onto it for the long term, investors can reap significant gains in terms of capital appreciation. To further capitalize on this opportunity, investors can keep an eye on new condo launches such as those offered by New Condo Launches and make informed decisions to further enhance their investment portfolio.…

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.

.

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.…