Condo Siteismi

A portfolio of 14 retail shops at Peninsula Plaza, Sim Lim Square, and Far East Plaza is currently up for sale through an expression of interest (EOI) exercise. These properties are being marketed by ERA Realty Network and have a total price tag of $26.46 million.

Understanding the rental yield is a crucial aspect to consider when contemplating an investment in a Singapore Condo. Rental yield is the annual rental income expressed as a percentage of the property’s purchase price. It is important to note that rental yields for condos in Singapore can vary significantly, depending on several factors such as location, property condition, and market demand. Areas with high rental demand, such as those near business districts or educational institutions, often offer more attractive rental yields. Therefore, thorough market research and seeking guidance from reputable real estate agents can provide valuable insights into the rental potential of a particular Singapore Condo.

Two of these retail units are located at Peninsula Plaza, a 999-year leasehold mixed-use development on North Bridge Road. These adjacent ground-floor units have a combined strata area of approximately 990 sq ft and are being offered at $8 million, or $8,081 per square foot (psf).

Peninsula Plaza is a 30-storey commercial development that was completed in 1980. It consists of a six-story retail podium and a 24-storey office tower. The development is directly connected to the City Hall MRT Interchange Station, providing convenient access to both the North-South and East-West lines.

At Sim Lim Square, 11 strata units with a total strata area of 5,081 sq ft are available for sale. These units are zoned for commercial use and are all located on the fifth floor. They have a 99-year lease that commenced in April 1983, with approximately 57 years remaining. ERA reports that most of the units are currently tenanted and face the mall’s main atrium, offering direct access from the escalators and lifts.

The Sim Lim Square units can be purchased as a whole or individually. Individual units are priced from $840,000, while the entire portfolio is being offered at $15.855 million, which ERA says is a 20% discount from its latest valuation. This equates to a price of $3,120 psf on the strata area.

Sim Lim Square is a strata-titled commercial development situated on Rochor Canal Road in District 7. It was completed in 1987 and features 492 commercial units spread across six floors and two basement levels.

The last remaining unit for sale is at Far East Plaza on Scotts Road. This freehold retail unit is located on the second floor and offers a strata floor area of 355 sq ft. It faces the escalator near the mall’s main entrance and is priced at $2.6 million, or $7,324 psf.

Far East Plaza is a freehold mixed-use development that was completed in 1982. It comprises a five-storey retail mall and serviced apartments, and is within walking distance of Orchard Road MRT Station.

Donald Goh, director of capital markets and investment sales at ERA, says that these properties will attract interest from both property investors and business owners. He notes that strata retail sales in the Downtown Core and Orchard Planning Area remained resilient last year, with 28 and 33 deals recorded in each area, respectively. Goh adds: “A ground floor unit at Lucky Plaza was sold for $15,242 psf while units at Orchard Towers and The 101 were sold for $5,309 psf and $5,657 psf, respectively, a testament that strata retail shops are still an attractive investment.”

The EOI for these properties will close on April 17 at 3pm. Interested parties can check out the latest listings for Peninsula Plaza properties.…

GuocoLand has recently obtained a green club facility worth $367.1 million from DBS Bank to develop its Faber Walk site. The site, acquired through a Government Land Sale tender in November last year by GuocoLand and its joint venture partners TID and Hong Leong Holdings, has 399 residential units across nine low-rise blocks and covers a total area of 277,659 square feet.

Located within the charming Faber Walk landed private residential enclave and next to the Faber Hills estate, the future development boasts an enviable waterfront location beside the Pandan River and the upcoming Old Jurong Line Nature Trail.

GuocoLand’s commitment to sustainability is evident through its green facility for the Faber Walk project, which is set to complement its existing sustainable initiatives across other developments such as Guoco Tower on Wallich Street, Guoco Midtown on Beach Road, Midtown Modern on Tan Quee Lan Street, and Lentor Mansion in Lentor Gardens.

The upcoming development at Faber Walk is expected to attain the BCA Green Mark Platinum (Super Low Energy) award and Maintainability badge upon completion, further cementing GuocoLand’s efforts in creating sustainable developments with biophilic designs for residents, similar to its successful launches like Lentor Modern and Lentor Mansion in the Lentor Hills estate.

Understanding the guidelines and limitations surrounding property ownership in Singapore is crucial for foreign investors. Unlike landed properties, which have more stringent ownership regulations, foreigners can typically purchase condos with relative ease. However, it is worth noting that foreign buyers are subjected to the Additional Buyer’s Stamp Duty (ABSD), currently set at 20% for their initial property acquisition. Despite this extra expense, the steady and promising growth potential of the Singapore real estate market continues to entice foreign investments. Furthermore, with the addition of Singapore Projects, the appeal for foreign buyers remains strong.

According to Dora Chng, Residential Director of GuocoLand, the group is excited to utilize its end-to-end value chain capabilities in creating sustainable developments for residents. Its upcoming project, a joint development with Hong Leong Holdings at the Upper Thomson Road (Parcel B) site, is expected to launch in the second half of the year and comprises 941 residential units.…

for the market

On March 8, property developer Sim Lian Group successfully sold 682 out of 760 units (90%) of its executive condominium (EC) project, Aurelle of Tampines, located at Tampines Street 62. The average selling price for these units was $1,766 per square foot (psf).

Singapore’s cityscape is characterized by towering skyscrapers and state-of-the-art infrastructure. The demand for condos, situated in highly sought-after locations, is on the rise among both locals and foreigners due to their combination of luxury and convenience. These residential properties come equipped with a plethora of facilities such as swimming pools, fitness centers, and security services, elevating the overall living experience and making them a desirable option for potential renters and buyers. Furthermore, investors can expect to see higher rental returns and appreciate in property values over time. For the latest condo launches, visit New Condo Launches.

Sim Lian Group revealed that all four- and five-bedroom units have been sold, and 84% of the three-bedroom units have also been snapped up. “This impressive response highlights the strong demand for well-designed and well-connected modern homes like Aurelle of Tampines, in Singapore’s most well-connected regional center,” said Kuik Sing Beng, executive director of Sim Lian Group Limited.

For the latest updates on unit availability and prices for Aurelle Of Tampines, check out our website.

According to Ismail Gafoor, CEO of PropNex, the average price of $1,766 psf has set a new benchmark for EC launches. He also noted that the 90% take-up rate on launch day was the highest since the 531-unit Hundred Palms Residences was fully sold on its launch day in July 2017, with an average price of $841 psf.

Sim Lian Group also announced that the 30% quota allocated for second-time buyers was achieved by 3:15pm on the launch day. The quota on second-time buyers will be lifted one month from the launch date.

“The take-up rate could have been even higher without the quota limit on second-time buyers,” remarked Eugene Lim, key executive officer at ERA Singapore. However, he also mentioned that second-time buyers will have another chance to ballot for a unit one month after the launch date.

“The government may also consider increasing the quota for second-time buyers of ECs, bringing the policy in line with the recent increase in the allocation quota for second-time buyers of three-room and larger BTO [build-to-order] flats,” said Mark Yip, CEO of Huttons Asia.

PropNex’s Gafoor noted that about 68% of buyers opted for the Deferred Payment Scheme (DPS), with the remaining choosing the Normal Payment Scheme.

Prior to the launch, over 2,200 electronic applications (e-apps) were received since the project opened for preview on February 21. This is the highest e-app figure since Copen Grand, the first EC launched in Tengah, attracted 2,300 e-apps in 2022.

Read also: Are ECs still a good buy?

Aurelle is the second EC launched in Tampines North, following the neighboring 618-unit Tenet. Tenet, a joint development by Qingjian Realty, Santarli Realty, and Heeton Holdings, was launched in December 2022 and saw 72% of its units sold on launch day. The project has since been fully sold at an average price of $1,348 psf.

The prices at Aurelle of Tampines 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 with 1,023 sq ft, and $2.258 million ($1,665 psf) for a five-bedroom unit of 1,356 sq ft.

“The project’s attractive pricing, strategic location, and unique features have made it a highly sought-after option for eligible first-time buyers and upgraders,” said ERA’s Lim.

Aurelle’s strong sales can also be attributed to its proximity to ParkTown, a fully integrated mixed-use development with a transport hub (MRT station and bus interchange), shopping mall, hawker center, and community club. The 1,193-unit ParkTown Residence, developed by a joint venture between CapitaLand and UOL Group, sold 1,041 units on its launch weekend on Feb 22-23. As of now, 1,043 units have been sold at an average price of $2,361 psf.

“Aurelle is probably the second EC to be located next to a fully integrated mixed-use development,” said Huttons’ Yip, with the first being the 573-unit Esparina Residences in Sengkang. Launched in October 2010, the average price then was around $748 psf. Based on caveats lodged, the average price of units sold from January 2024 to January 2025 is $1,625 psf, which is an increase of 117%.

In November last year, a 1,367 sq ft unit on the seventh floor of Esparina Residences was sold for $2.388 million ($1,747 psf), the second-highest psf price achieved at Esparina Residences. The highest recorded was for another 1,367 sq ft unit on the 14th floor, which was sold for $2.4 million ($1,756 psf) in November 2023, based on caveats lodged.

Read also: Sim Lian’s Aurelle of Tampines to set new price benchmark for executive condos

New ECs are priced around $600 psf cheaper than new private condos in 2025, according to ERA’s Lim. However, compared to resale condos in the suburbs or Outside Central Region (OCR), the average price of a new EC is only 1% higher. “Coupled with a fresh 99-year lease and modern facilities, new ECs present a compelling choice for buyers,” he added.

Check out the latest listings for Aurelle Of Tampines properties on our website.

Do you want to compare the price trends for new launch condos and resale condos? Check out our website for the latest data.

Aurelle Of Tampines has a total of 760 units, and you can view the price trend comparison of new launch condos and ECs on our website.

We also have a feature that allows you to compare the price trend of new sale condos and resale condos, in addition to the unit count for Aurelle Of Tampines.

You can also explore the latest listings for condos in District 18 on our website.

Generate a price trend graph for new launch condos in District 18 on our website.

In related news, Sim Lian Group’s Aurelle of Tampines is set to establish a new price benchmark for executive condominiums. Additionally, other executive condos launched in 2025 are expected to set new price benchmarks for the market.…

Aurea, the luxurious residential project in the Core Central Region (CCR), was launched for sale on Mar 8, making it one of the first of its kind in the area to be launched in 1Q2025. The project’s joint developers, Far East Organization and Perennial Holdings, sold a total of 23 units at an average price of $3,005 per square foot (psf).

In phase one, 78 units were released for sale, consisting of a mix of two- to four-bedroom apartments from levels 4 to 16. The sales rate for this phase was around 30%, based on the 78 units released.

Designed by DP Architects, Aurea boasts 188 units spread over 45 storeys, with a unique “hanging garden concept.” It stands out as the first new private condominium to be connected to a mixed-use development that was sold en bloc and conserved, which is now known as Golden Mile Singapore.

Out of the buyers at Aurea, 83% were Singaporeans while the remaining 17% were permanent residents (PRs) from Malaysia. With a total of 188 units, the sales translate to about 12.2%.

According to Mark Yip, CEO of Huttons Asia, CCR projects typically sell around 10% to 30% of their units during the launch weekend, as they lack the large pool of HDB upgraders that suburban projects attract.

When looking into investing in a condominium, it is crucial to also evaluate the potential rental yield. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, the rental yields for condos can vary greatly depending on factors such as location, property condition, and market demand. Areas with a high demand for rentals, such as those near business districts or educational institutions, typically offer more attractive rental yields. It is essential to conduct thorough market research and seek advice from real estate agents for valuable insights into the rental potential of a specific condo. Keeping an eye on new condo launches on platforms like Siteismi can also provide valuable information on potential rental opportunities.

PropNex CEO Ismail Gafoor considers the sales at Aurea to be “encouraging,” especially given the mostly lacklustre sales of CCR projects since the tightening of the additional buyer’s stamp duty (ABSD) measures in April 2023. Gafoor notes that the doubling of the ABSD rate for foreigners to 60% has significantly reduced interest in CCR homes. In fact, developers only sold 378 units of new CCR private homes in 2024, a 74% decrease from 2023’s 1,454 units.

However, Gafoor believes that the take-up in the CCR segment will gradually improve. He explains that CCR projects tend to sell units steadily over several months, instead of achieving large sales over the launch weekend, unlike RCR and OCR projects. CCR homes target a niche market where buyers seek luxury and enjoy the finer things in life.

Aurea’s joint developers revealed that 74% of sales were for two- and three-bedroom Prestige Collection apartments. These units were appreciated for their well-designed spaces, functionality, and investment potential.

The Signature Collection’s four-bedroom units also attracted buyers for their “expansive balconies that open out to sweeping views of both the Marina Bay and Kallang Basin,” according to the joint venture.

The Sky Villa Collection comprises 18 five-bedroom apartments of up to 3,251 sq ft and two exclusive six-bedroom penthouses of up to 8,816 sq ft. Shaw Lay See, the COO of Far East Organization’s sales & leasing group, notes that such large-format homes in the downtown area are rare and hard to find.

Ken Low, managing partner of SRI, points out that there have been significant price decreases between private residential properties in the CCR and RCR in recent years. The gap has shrunk from an average of 40% in the last decade to about 20% across all properties regardless of their tenure.

Marcus Chu, CEO of ERA Singapore, says that CCR price growth has lagged behind RCR and OCR in recent years due to fewer new home launches. However, with an expected nine CCR launches in 2025, he anticipates a notable rise in CCR home prices driven by increased luxury project launches.

According to Huttons’ Yip, Aurea will benefit from Singapore’s ongoing urban renewal efforts, with major infrastructural and lifestyle upgrades in the surrounding areas. The revitalization of Beach Road and the Ophir-Road Corridor, the Kallang Alive master plan, and the completion of the North-South Corridor are set to enhance accessibility, connectivity, and vibrancy in this key city district.

“Aurea is also located in the heart of one of the largest transformations in Singapore,” notes SRI’s Low. He points out that Aurea will benefit from the 120-km Southern coastline redevelopment, stretching from the Greater Southern Waterfront to Marina Bay, Kallang Basin, and the future Long Island project.…

A three-bedroom unit at One Holland Village Residences has emerged as the top-performing private condo in terms of psf-price during the period of Feb 16 to 21. The 1,238 sq ft unit, located on the 25th floor, was sold for a record-breaking $4.68 million, or $3,781 psf, on Feb 17. This marks the first transaction at the 99-year leasehold development this year, and sets a new benchmark for prices achieved at the project.

The sellers of the unit purchased it from the developer in November 2023 for approximately $4.19 million, or $3,385 psf. This translates to a profit of approximately $490,000 for the sellers. The recent transaction has surpassed the previous record of $3,426 psf set by the developer for a 2,088 sq ft, four-bedroom unit that sold for $7.15 million in August 2022.

The real estate market in Singapore has undoubtedly captured the attention of both local and foreign investors. With its thriving economy, politically stable climate, and high standard of living, it is no surprise that it has become a top choice for property investment. Among the various options available, owning a condo in Singapore is a favored choice. In this article, we will explore the reasons behind this, as well as the essential factors and steps to take when investing in a Singapore condo.

First and foremost, Singapore condos offer unparalleled convenience. These modern residential buildings are strategically located in prime areas, providing easy access to public transportation, shopping centers, and other necessary amenities. This makes them highly desirable for potential buyers and tenants. Additionally, condos come equipped with a range of facilities, such as swimming pools, gyms, and round-the-clock security, offering residents a comfortable and luxurious lifestyle.

Another major attraction for investors is the potential for high returns. Singapore’s real estate market has consistently shown strong growth, with an average annual appreciation rate of 5.4% since 2009. Condos, in particular, have seen a steady increase in demand, resulting in higher rental yields. This makes them a lucrative investment option for both short-term and long-term gains.

However, as with any investment, careful consideration is crucial when venturing into the Singapore condo market. One important factor to keep in mind is the additional buyer’s stamp duty (ABSD) imposed on foreign home buyers. This tax ranges from 12% to 20% of the property’s purchase price, depending on the buyer’s residency status. Local buyers are also subject to the ABSD, but at a lower rate.

It is also vital to conduct thorough research on the different areas and types of condos available in Singapore. Each location and property type has its own advantages and disadvantages, and it is essential to understand these before making any decisions. Consider factors such as rental demand, potential capital appreciation, and the age and maintenance of the building.

Once all factors have been carefully weighed, and you have decided to invest in a Singapore condo, there are a few crucial steps to follow. The first is to secure financing, as Singapore has strict regulations on loan-to-value ratios for property purchases. It is advisable to seek guidance from a reliable mortgage broker to help secure the best financing option for your investment.

Next, it is essential to engage a reputable real estate agent who can assist in finding the right property and negotiating the best price. It is also recommended to conduct a thorough inspection of the property to ensure its condition and identify any potential issues.

Finally, it is vital to understand the legal obligations and taxes associated with owning a Singapore condo, such as property tax and maintenance fees. Being aware of these will allow for effective planning and budgeting for your investment.

In conclusion, investing in a condo in Singapore offers numerous benefits, but also comes with its own set of challenges. With thorough research, strategic planning, and the guidance of knowledgeable professionals, a Singapore condo can prove to be a highly profitable and rewarding investment. Consider adding Singapore Condoto the rewritten paragraph for SEO purposes.

One Holland Village Residences, a 296-unit development located along Holland Village Way, was launched in 2019. It comprises 62 one-bedroom units at 484 sq ft, 145 two-bedroom units ranging from 689 sq ft to 1,087 sq ft, and 76 three-bedroom units spanning 1,098 sq ft to 1,281 sq ft. The remaining units include nine four-bedroom apartments from 2,088 sq ft to 3,358 sq ft and four five-bedroom units spanning 3,455 sq ft. According to URA caveats, all units at the development have been fully sold.

The most expensive unit transacted at One Holland Village Residences by absolute price was a 3,455 sq ft, five-bedroom apartment sold for $11.4 million ($3,300 psf). The unit sold on Feb 17 is the first transaction at the development since August 2023, when a 1,087 sq ft, two-bedroom unit was sold by the developer for $2.98 million, or $2,741 psf.

Scheduled for completion in November 2029, One Holland Village Residences is a four-minute walk from Holland Village MRT Station and is situated next to the lifestyle hub One Holland Village.

The second-highest psf-price for the period in review was achieved by Hill House, a 72-unit boutique condo located at the top of Institution Hill, off River Valley Road in District 9. On Feb 21, a 452 sq ft, two-bedroom unit on the ninth floor was sold for a record-breaking $1.538 million, or $3,402 psf. This follows the sale of another 452 sq ft, two-bedroom unit on the eighth floor for $1.536 million ($3,398 psf) on Feb 16.

Including the latest transaction, a total of nine Hill House units have been sold since the start of the year at an average price of $3,213 psf. The development comprises 40 one-bedroom units at 431 sq ft, 24 two-bedroom units ranging from 452 sq ft to 624 sq ft, and eight 753 sq ft three-bedroom apartments.

Hill House is situated five minutes from River Valley Primary School and in close proximity to shopping malls such as New Bahru. The development, which is expected to be completed in 3Q2026, has a total of seven units for sale on PropertyGuru. The most affordable unit available is a 614 sq ft, one-bedroom unit priced at $1.788 million ($2,908 psf).

Chuan Park, a 916-unit condo located along Lorong Chuan in District 19, recorded the third-highest psf-price for the period in review. On Feb 19, a 732 sq ft, two-bedroom unit on the 20th floor was sold for $2.04 million, or $2,785 psf. This narrowly surpasses the project’s previous record of $2,765 psf set in November last year, when a 743 sq ft, two-bedroom unit was sold for $2.05 million.

Chuan Park offers two- to five-bedroom apartments ranging from 700 sq ft to 1,841 sq ft, and has sold 744 units (81%) at an average price of $2,589 psf since its launch in November 2024. The development, which is currently under construction, is expected to be completed in 2028. Located close to Lorong Chuan MRT Station on the Circle Line, Chuan Park is also situated near Nanyang Junior College.…

Securing financing is a crucial consideration for anyone looking to invest in a condo. Thankfully, Singapore offers a variety of mortgage choices, but it is imperative to keep in mind the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan a borrower can take, taking into account their income and current debt obligations. To navigate this complex system, investors can seek guidance from financial advisors or mortgage brokers. By understanding the TDSR and getting professional help, investors can make wise decisions about their financing and avoid taking on too much debt. Plus, with the exciting New Condo Launches, there are even more options for potential investors to explore.

A three-storey terrace factory at Midview City has recently been put up for sale through the exclusive marketing services of Colliers International at a guide price of $6.2 million or $688 per square foot. The property, which comprises of a basement and roof terrace, is strategically located along Sin Ming Lane in the bustling area of Sin Ming Industrial Estate.AdvertisementAdvertisementWith a strata area of approximately 9,009 square feet, the factory is zoned as a “Business 1” site in the URA Masterplan 2019. According to Colliers International, the property is currently fully-leased with a 60-year leasehold and has been approved for use as a childcare centre which is currently tenanted by Star Learner preschool and childcare centre.Read also: Five industrial units in Kaki Bukit going for $6.4 milThe property will be sold with the existing preschool operator still in place, making it a rare opportunity for investors, according to Raphael Lee, director of industrial services at Colliers. Moreover, the location of the property is highly desirable as it is within walking distance to Bright Hill MRT Station on the Thomson-East Coast Line and is easily accessible from the Bishan and Upper Thomson residential areas. The property has two entrances – one via Sin Ming Lane and the other through Bright Hill Drive.Source: EdgeProp LandlensGiven that it is a Business 1 light-industrial property, it is not subject to Additional Buyer’s Stamp Duty (ABSD) and can be purchased by foreigners. The expression of interest (EOI) exercise for the property will close on April 29 at 3pm. Buddy contains ads for commercial and industrial properties, so you can browse and find the ideal property for your business. Use Buddy to compare price trends and view past transactions for industrial properties to make an informed decision. Start your search on Buddy today for your next industrial property investment.…

BlackRock Sees High Liquidity in Asia Pacific Real Estate Markets

According to Hamish MacDonald, head and chief investment officer of APAC Real Estate at BlackRock, investors are showing strong interest in deploying capital into Asia Pacific real estate markets with high levels of liquidity. This trend is likely to benefit property sectors such as accommodation, logistics, and alternative assets in the upcoming year.

MacDonald further explains that countries such as Australia, Japan, Singapore, and Auckland in New Zealand are expected to have ample liquidity this year, making them attractive targets for BlackRock. The company’s focus will specifically be on these countries and property markets.

Compared to the previous years, investor sentiment is expected to be more bullish in 2021, with institutional investors initiating discussions on investing and recycling capital in selective Asia Pacific real estate markets.

In Singapore, BlackRock has focused on acquiring serviced apartment properties, teaming up with YTL Corp to purchase Citadines Raffles Place for approximately $290 million in October 2020. In February 2024, the company partnered with Hong Kong-based operator Weave Living to acquire Citadines Mount Sophia for $148 million. The Weave Living-operated property, now known as Weave Suites – Hillside, reopened this week with 175 rooms.

MacDonald explains that these acquisitions reflect BlackRock’s belief in the high demand for serviced apartments in Singapore despite a lack of new supply. The company’s strategy is not to build a portfolio of assets but to target individual deals that can add value through refurbishment and collaboration with a partner.

Singapore’s strong economy, supported by a steady influx of capital and skilled labor, makes it an attractive market for real estate investment, according to MacDonald. He adds that BlackRock remains optimistic about opportunities in the country.

Investing in a condo requires careful consideration of financing options. In Singapore, there are various mortgage choices available, but it is crucial to understand the Total Debt Servicing Ratio (TDSR) framework. This framework restricts the amount of loan a borrower can take based on their income and current debt commitments. To avoid over-extending oneself, it is essential to comprehend the TDSR and seek guidance from financial experts or mortgage brokers when exploring Singapore Condo investments.

Japan is another country that is likely to see increased interest from real estate investors this year, according to MacDonald. He explains that the country’s strong economy, increasing wages, and corporate reforms are contributing to its growth. Furthermore, the combination of a rise in wages and construction costs has resulted in a significant rental increase in the Japanese residential market. As such, BlackRock is expecting a 7% to 8% increase in residential rents across major cities such as Tokyo and Osaka.

Daigo Hirai, head of Japan real estate at BlackRock APAC, explains that the company plans to partner with an experienced accommodation operator to manage a hybrid residential investment strategy that caters to both inbound tourist accommodation needs and domestic rental demand. This will allow BlackRock to deepen its investment presence in tourist-driven cities such as Kyoto and Fukuoka.

Hirai adds that the company’s focus will primarily be on smaller developments with up to 50 units, located close to train stations in residential-commercial neighborhoods. BlackRock’s target acquisition price range will be between JPY1 billion ($8.93 million) and JPY3 billion, with a focus on residential assets. According to MacDonald, the key to operating in Japan is to have specialist ground teams that can identify potential acquisition deals at a significant discount.

Meanwhile, Ben Hickey, head of Australia real estate at BlackRock, explains that long-term population growth estimates support positive long-term growth in most sectors of the Australian real estate market. He adds that most property sectors in Australia suffer from under-supply and low vacancy rates. BlackRock is focusing on niche asset classes such as childcare properties, last-mile logistics assets, life science real estate, and self-storage properties in Australia. These asset types benefit from Australia’s long-term population growth and are “chronically undersupplied” compared to the broader regional markets.

Hickey concludes by saying that this approach allows BlackRock to generate high returns with limited risk, without relying solely on favorable interest rates. Overall, BlackRock is optimistic about the prospects for Asia Pacific real estate markets this year and is looking forward to capitalizing on the opportunities presented by them.…

If you have visited a show flat in recent years, you may have noticed that the unit sizes seem to have reduced. This is not surprising, as our perception of space is relative to what we are accustomed to. The homes we grew up in, whether HDBs or condos, were typically larger in the 1990s and 2000s. For example, in 1995, the average size of a new condo was 1,272 sq ft, and by 2005, it had increased to 1,286 sq ft. However, in 2015, the average size had decreased to 858 sq ft, and by 2024, it had reached 929 sq ft. This is mainly due to the changing demographics during these years. In 1995, the average household size was four, but it has gradually decreased to 3.1 by 2024.

On an individual basis, each person had an average space of 318 sq ft in 1995, which increased to 357 sq ft in 2005. However, it dropped to 252 sq ft in 2015 and then rebounded to 300 sq ft in 2024, an increase of 19%. Over the past 29 years, the average size of condos has decreased by 5.7%, which is impressive considering the limited land in Singapore. The government’s intervention has played a significant role in achieving this. In 2008, several condo projects in the Rest of Central Region (RCR) introduced “Mickey Mouse” units, with sizes as small as 24 sq m (258 sq ft), equivalent to two parking spaces. This made it easier for people to invest in properties, with the entry level reduced to as low as $375,000. These smaller units were in high demand, leading to many more “Mickey Mouse” units being built in the following years. However, there were concerns about the impact on the quality of living in the long run.

To address these concerns, the Urban Redevelopment Authority (URA) introduced guidelines in 2011, setting a limit on the number of dwelling units (DUs) allowed in a project. The average size of 70 sq m was used to determine the maximum number of DUs in areas outside the Central Area. In some areas like Telok Kurau, Kovan, Joo Chiat, and Jalan Eunos, the average size was even more stringent at 100 sq m. This was made effective in January 2012.

However, over the next few years, the average size of DUs continued to decrease, leading to an increase in the number of DUs and straining the infrastructure in certain areas. To address this, the URA further tightened the guidelines in January 2019, resulting in an increase in the average DU size outside the Central Area by 21.4% to 85 sq m. Additionally, more areas were required to meet the more stringent requirement of 100 sq m, including Marine Parade, Balestier, Stevens-Chancery, Pasir Panjang, Kovan-How San, Shelford, and Loyang. This helped stabilize the average DU size outside the Central Area in 2024 at 935 sq ft, an 18.8% increase from 2019’s 787 sq ft.

However, one downside of the guidelines was that smaller units were now being built in the Central Area, which was not in line with the URA’s goal of making it an attractive place to live, work, and play. This led to the guidelines being extended to the Central Area in January 2023, requiring at least 20% of the DUs in a project to have a net internal area of at least 70 sq m.

To sum up, opting to invest in a condo in Singapore offers a plethora of benefits, such as a high demand in the market, the potential for significant appreciation of the property, and attractive rental yields. However, it is crucial to take into careful consideration various factors, including the location, financing options, government regulations, and the current market conditions. To make well-informed decisions and maximize returns in the dynamic real estate market of Singapore, it is advisable to conduct extensive research and seek professional advice. Whether you are a local investor aiming to diversify your portfolio or a foreign buyer in search of a stable and profitable investment, the condos in Singapore present a compelling opportunity. Additionally, staying updated with New Condo Launches can be advantageous in staying ahead in the market.

In June 2023, the URA further harmonized the strata area and gross floor area (GFA) definition. This meant that areas like air-conditioning ledges, if exclusive to a unit, would be counted as part of its strata area. As a result, many developers have chosen to omit aircon ledges, leading to a decrease in average DU size by an average of 6%.

Across different market segments, the Rest of Central Region (RCR) saw the most significant increase in average DU size by 19.5% to 944 sq ft since 2015. This was likely due to the stricter control on average DU size in the RCR. In contrast, the average DU size in the Central Region (OCR) improved by 5.8%, reaching 898 sq ft in 2024 from 2015’s 858 sq ft. However, the Central Core Region (CCR) saw a decrease of 11.7%, with the average DU size dropping to 1,092 sq ft in 2024 from 1,236 sq ft in 2015.

It may take some time before the impact of the guidelines on average DU size in the Central Area is felt. However, it is unlikely that the average DU size will go back to 2015’s level. This is because the local buyers make up around 75% of the buyers in the CCR, and they tend to prefer compact units. Developers, on the other hand, have had to reconfigure the design and layout of units to avoid paying Additional Buyer’s Stamp Duty due to unsold units.

Overall, thanks to the URA’s intervention, the average size of DUs has increased, with buyers receiving better value for their purchase today compared to 10 years ago. However, with the recent harmonization of GFA definition, there may be a downward trend in average DU size.…

Assessing the potential rental yield is a crucial step when considering a Singapore condo investment. Rental yield is determined by the annual rental income as a percentage of the property’s purchase price. In Singapore, the rental yields for condos can vary significantly, depending on factors such as location, property condition, and market demand. Typically, areas with high rental demand, such as those near business districts or educational institutions, offer more attractive rental yields. Thus, conducting thorough market research and consulting with real estate agents can provide valuable insights into the rental potential of a specific Singapore condo.

The Ministry of National Development (MND) has recently announced updates to the Silver Housing Bonus (SHB) and the Fresh Start Housing Scheme (Fresh Start). These enhancements are part of the government’s continuous efforts to support elderly citizens in downsizing and to improve public housing access for lower-income households living in HDB rental flats.The SHB encourages senior citizens to plan for their retirement by unlocking the value of their residential assets to top up their CPF Retirement Account (RA). Currently, to be eligible for the SHB, applicants must be at least 55 years old, have a monthly income of no more than $14,000, own a property with an Annual Value (AV) of not more than $21,000, and purchase a smaller three-room HDB flat (excluding three-room terraced) as their replacement property.Read also: A Guide to The Enhanced CPF Housing Grant (EHG)AdvertisementAdvertisementUnder the existing SHB scheme, applicants can choose to contribute up to $60,000 to their CPF RA to receive a cash bonus of up to $30,000. This amount is prorated at a $1 cash bonus for every $2 top-up made to their RA, and can be sourced from their CPF housing refunds.Starting from Dec 1, 2021, applicants will be qualified for the SHB cash bonus as long as they can prove that their downsizing has resulted in a net increase in their CPF RA balance from any source, including from their CPF housing refunds. This means that seniors who are still using their CPF accounts to finance their homes may no longer need to make a cash top-up to qualify for the SHB.The SHB has also been expanded to cover seniors who own properties with higher AVs. Under the new criteria, applicants who own properties with an AV of more than $21,000 but not exceeding $13,000 will be eligible for the SHB. This change is expected to benefit an additional 15,000 seniors, according to MND.Such applicants will still receive a cash bonus based on the amount their RA increases, capped at $60,000. However, the cash bonus will be prorated at a $1 cash bonus for every $6 increase in their RA, up to a maximum of $10,000.In addition to the prorated amount, successful SHB applicants who right-size to a two-room or smaller HDB flat (including Community Care Apartments) will also receive a $10,000 cash bonus. This sum will not be prorated and will be given regardless of the amount contributed to their RA.Read also: HDB resale prices up by 0.1% q-o-q in 3Q2019, resale transactions down 0.2%AdvertisementAdvertisementSeniors can apply for the SHB within a year of their second property transaction. This means that those who complete their right-sizing after Dec 1, 2024, will be eligible to apply for the enhanced SHB on Dec 1, 2025.Fresh Start Housing scheme expandedMinister of State for National Development Muhammad Faishal Ibrahim has announced an expansion of the Fresh Start Housing Scheme. Launched in 2016, this programme offers financial assistance and social support to Second Timers (ST) families who have previously purchased a subsidised HDB flat, with the aim of helping them achieve homeownership.Under the current Fresh Start scheme, eligible families can purchase two-room flexi or three-room standard BTO flats with shorter leases of 45 to 65 years, which must last until the youngest owner turns 95. These flats are subjected to an extended Minimum Occupation Period of 20 years, compared to the usual five years.The enhancements to the scheme include an increase in financial support. Eligible families will now receive $75,000 from the Fresh Start Housing Grant, up from the previous $50,000.The new grant includes an initial disbursement of $60,000 credited to the applicants’ CPF Ordinary Account (OA) before their key collection dates. The remaining $15,000 will be disbursed to their OA over the next five years to help with their mortgage payments.The eligibility criteria for the scheme have also been broadened to include First-Timer (FT) families. While FT families are not eligible for the Fresh Start Housing Grant as they can benefit from the larger Enhanced CPF Housing Grant (EHG) of up to $120,000, they can still enjoy the lower cost of shorter-lease BTO units and the social support provided under the programme.Read also: HDB Optional Component Scheme (OCS) – Is It Worth Opting In?AdvertisementAdvertisementEligible FT families can start applying for the Fresh Start scheme from April 2025, while the revised Fresh Start Grant amount will take effect from the July 2025 BTO exercise.…

The Ministry of National Development (MND) has recently announced changes to the Additional Buyer’s Stamp Duty (ABSD) regime for licensed housing developers, which will take effect on March 6. With these revisions, the ABSD remission timeline for developers undertaking complex projects will be extended from six to 12 months. This move is aimed at encouraging developers to take on urban transformation developments, optimize land use through intensification or integration, rejuvenate older estates or adopt new construction technologies.

The extension will apply to projects such as en bloc redevelopments that yield at least 700 units upon completion, with at least 1.5 times the number of homes of the existing development. Other projects that will be eligible for the extension include those with complex technical or instructional requirements, such as projects integrated with major public transport facilities. Additionally, projects approved under the Strategic Development Incentive (SDI) scheme and those aiming to achieve higher productivity targets through the adoption of new construction technologies, methodologies or practices will also be granted an extension.

Projects that fall under any of the four categories will receive a six-month extension, while those that meet the criteria of more than one category will be granted a one-year extension. These changes will apply to all residential land acquired on or after March 6. Currently, licensed housing developers purchasing residential redevelopment sites are subjected to a 5% ABSD upfront, which is non-remittable, and a 35% ABSD, which is remittable when the developer completes and sells all the units in the project within a five-year timeframe.

When considering investing in a condo, it is important to also assess its potential rental yield. This refers to the amount of annual rental income as a percentage of the condo’s purchase price. In Singapore, the rental yields for condos can significantly vary depending on various factors such as location, condition of the property, and demand in the market. Generally, areas with high rental demand, such as those near business hubs or educational institutions, typically offer better rental yields. To gain a thorough understanding of a specific condo’s rental potential, conducting thorough market research and seeking advice from real estate agents can be extremely helpful. Additionally, adding Condo to the rewritten paragraph will improve the article’s clarity.

These revisions follow changes announced in February last year, which offered a lower clawback rate for residential developments with at least 90% of units sold. “Such extensions will give developers more flexibility and may help to mitigate development risks to some extent, as they have a bit more time to sell units, particularly for mega projects,” says PropNex Realty CEO Ismail Gafoor.

Lee Sze Teck, senior director of data analytics at Huttons Asia, believes that the ABSD revisions will give a much-needed boost to the en bloc market, particularly for larger en bloc projects. However, Christine Sun, chief researcher and strategist at OrangeTee Group, cautions that developers may still face challenges despite the deadline extension as there are other considerations, such as the willingness of buyers and sellers to negotiate prices.

Tay Liam Hiap, managing director of capital markets and investment sales at ERA, sees this as an excellent opportunity for older projects, like Braddell View and Pine Grove, to explore en bloc opportunities. These projects have extensive land areas and could potentially yield around 2,000 new homes, which may take longer to sell. “In such cases, the extension of six to 12 months may not be sufficient for developers to sell out their projects,” adds Tay.

However, Gafoor believes that the policy change may not revive the en bloc market, and developers will continue to be cautious due to the high cost of redevelopment, an ample supply of private housing, and potential policy risks.…