Condo Siteismi

There is positive news for the global real estate market as it experienced a 0.33% return in the second quarter of 2024, ending two years of cumulative losses. The low interest rate era has driven real estate values up, with global total returns reaching 5.0% in the fourth quarter of 2021 and 17.8% in the first quarter of 2022 – figures well above long-term averages. However, as interest rates began to rise, these gains were negated and values returned to 2018 levels globally.

But now, it seems that the real estate market correction is nearly complete, offering a ripe opportunity for investors to revisit this asset class. Historically, real estate has provided stable income returns and diversification benefits over the long term, and it has the potential to offer robust returns during recovery periods. For example, after the early 1990s recession, investors saw a 76% cumulative return over the next five years. The tech-wreck and the Global Financial Crisis also saw strong returns of 98% and 86%, respectively.

In the second quarter of 2024, global value losses moderated to 0.74%, marking the lowest quarterly adjustment in the past two years. With offsetting income returns of 1.07%, global real estate achieved a positive 0.33% return, the first positive quarter since 2Q2022. Among the 15 global markets in the MSCI Global Property Index, a slight majority saw write-ups in real estate values for the first time since 2Q2022. Eight markets, including Japan, South Korea, Singapore, Southern Europe, the Nordics, the Netherlands, France, and the UK experienced value increases from the prior quarter. Six markets saw value losses between 0.3% and 1.5%, all of which moderated from 1Q2024. Only Australia recorded a larger write-down in the second quarter than in the first, with a 4.2% correction aligning valuations more closely with its peers.

However, changes in capital values are just one component of real estate returns. Historically, the larger component of total returns has been income. This trend underscores the importance of income returns in driving overall performance in the real estate sector, highlighting the need for investors to consider both capital and income aspects when evaluating real estate investments.

As an international investor, it is crucial to be well-informed about the regulations and limitations surrounding property ownership in Singapore. Unlike landed properties, which have more stringent ownership guidelines, foreigners are generally able to purchase condominiums with minimal restrictions. However, it is important to note that foreign buyers are subject to the Additional Buyer’s Stamp Duty (ABSD), currently set at 20% for their initial property acquisition. Despite this additional expense, the stability and potential for growth in the Singapore real estate market continues to draw foreign investment. This is evident in the numerous Singapore Projects that continue to attract foreign investors.

In the second quarter, total returns, which combine capital and income returns, were positive in 12 of 15 countries. They were flat in the US (–0.09%), slightly negative in Ireland (–0.22%), and significantly negative in Australia (–3.07%). Preliminary NCREIF ODCE index (a capitalisation-weighted, gross-of-fee, time-weighted return index) data showed US total returns turning positive (0.25%). With values beginning to rebound, we expect the positive trajectory in total returns to continue.

Although fundraising for real estate investment shows signs of a potential rebound globally after two slow years, China and Japan could face challenges. In 3Q2024, China and Japan accounted for 27% and 15% of the US$7.5 billion ($10.04 billion) in cross-border inflows in Asia Pacific. Over half of Japan’s inflows were from global sources, while most of China’s came from within Asia Pacific, particularly Hong Kong and Singapore. Both countries face high debt costs and other factors hindering a strong rebound in real estate capital inflows.

In China, there has been a significant decline in interest from Western investors due to geopolitical and economic concerns. This trend is unlikely to change anytime soon, and the market has been stagnant due to price dislocation, geopolitical risks, and lack of liquidity. Since 2021, China has faced a property crisis worsened by the collapse of Evergrande. Many European investors are avoiding China and Hong Kong due to these risks, regardless of potential returns. In addition, the domestic property crisis in China persists, with high office vacancies, low rental yields, ongoing issues with failing developers, and government interventions.

Japan, on the other hand, remains an outlier with interest rate policies and limited cap rate compression making the broader Japanese property sector less appealing. In July, the Bank of Japan raised borrowing rates for the first time since 2007 to control inflation, reducing market attractiveness. This hike has prevented cap rate compression, which means that property prices haven’t risen, forcing real estate holders to rely on historically low-income yields. However, senior housing remains an attractive niche due to Japan’s aging population, with 29% of its population aged 65 or over. These assets are small and require an amalgamation play by investors.

Australia continues to be an attractive market, with its purpose-built student accommodation (PBSA) sector showing immense potential due to a significant housing shortage. Only 20% of students in Melbourne and Sydney can be accommodated by universities, forcing the rest to seek private rentals. Additionally, real estate debt in Australia offers appealing risk-adjusted returns, with funding gaps in construction that make it difficult for many developers to secure bank financing. Sectors such as logistics or PBSA present long-term growth opportunities.

Stabilizing valuations and transaction market pricing suggest that the real estate market is near its bottom, but these signals alone do not indicate an attractive entry point. For market pricing and valuations to increase, we would ideally see declining interest rates and strengthening property fundamentals. As developed market central banks begin to taper interest rates, we can expect downward pressure on financing rates, discount rates, and property capitalization rates, which would boost the value of real estate assets.

With a pullback in construction activity across sectors, the medium-term outlook for property fundamentals is encouraging. Markets with positive demand due to population growth or structural changes, such as e-commerce, are set to see increased occupancies in the medium term. Historically, occupancies and rent growth are well correlated, which provides investors with opportunities to gain from increased occupancies, rents, and the associated rise in property values.

While the outlook for global private real estate seems to be improving, the rising tide is unlikely to lift all boats. For instance, the US office market still faces significant challenges, and a broad recovery in that segment seems highly unlikely in the near term. This underscores the importance of research and selectivity when investing in real estate, as not all markets and property types will perform equally well.

In an uncertain economic and geopolitical environment, additional risks are inevitable, but this applies to all asset classes. Over the past two years, the weight of real estate in investors’ portfolios has significantly decreased due to resetting real estate values and a record stock market. Today, investors might consider fresh allocations to the private real estate market to achieve a strategic weighting. Over the long term, private real estate offers low correlations to other asset classes, strong income returns, and a degree of inflation-hedging. While there may be bumps in the road, we believe the market is beginning to look up, presenting excellent investment opportunities for savvy investors.…

The resale of an apartment at Island View, a freehold condominium in Pasir Panjang, topped the charts as the most profitable transaction in the week of Nov 26 to Dec 3. The 3,498 square-foot unit was sold for $4.8 million, translating to $1,372 per square foot, on Nov 27, making it the highest recorded profit at the development. The seller had purchased the unit in September 2005 for $1.3 million, at $372 per square foot. After owning it for almost 19 years, the seller made a profit of $3.5 million, a capital gain of 269% or an annualised return of 14.2%.The transaction on Nov 27 is now the most profitable deal ever recorded at Island View, surpassing the previous record profit of $3.19 million from the sale of another 3,498 square-foot unit for $5.09 million ($1,455 per square foot) in February 2022. The seller had acquired the unit in February 2007 for $1.9 million ($543 per square foot).Located on Jalan Mat Jambol, off Pasir Panjang Road in District 5, Island View is a freehold boutique condominium comprising 72 low-rise apartments ranging from 3,056 square feet to 3,538 square feet. Completed in 1984, the development is within walking distance to the Pasir Panjang MRT Station on the Circle Line.Read also: Four-bedder at Ardmore Park sold for $3.05 mil profitAdvertisementAdvertisementIn September 2023, owners of Island View had attempted a collective sale, launching a tender for the development with a guide price of $575mil. However, after the tender closed the following month with no bids, the condo was relisted for sale in March at the same guide price, but failed to attract a buyer.The second most profitable condo resale deal during the week took place at Cavenagh Court. On Dec 2, a 1,862 square-foot unit on the sixth floor was sold for $3.65 million, which translates to ($1,960 per square foot). The seller, who purchased the unit in April 2006 for $1.02 million ($548 per square foot), made a gain of $2.63 million (258%) after holding it for almost 19 years.The transaction on Dec 2 is a new record profit for a unit at Cavenagh Court, beating the previous top gain of $2.15 million from the sale of another 1,862 square-foot unit on the fourth floor for $3.28 million ($1,761 per square foot) in April 2022. The seller had acquired the unit in October 2007 for $1.13 million ($607 per square foot).A 1,862 square-foot unit at Cavenagh Court was sold on Dec 2 for $3.65 million ($1,960 per square foot), earning the seller a profit of $2.63 million (Picture: Google Street View)Located on Cavenagh Road in District 9, Cavenagh Court is a freehold condominium completed in 1971. The boutique development comprises 68 units ranging from 1,819 square feet to 1,862 square feet. It is a short drive to the Orchard Road shopping belt.Apart from the transaction on Dec 2, Cavenagh Court had only one other resale deal this year, based on caveats lodged. In this deal, a 1,840 square-foot unit on the sixth floor changed hands for $3.82 million ($2,074 per square foot). The seller, who acquired the unit for $2.88 million ($1,565 per square foot) in August 2019, made a profit of about $938,000.Conversely, the sale of a duplex penthouse at The Berth By The Cove was the least profitable condo resale deal for the week. The 3,089 square-foot, four-bedroom apartment was sold for $3.6 million ($1,165 per square foot) on Nov 29. The unit last changed hands for $5.53 million ($1,790 per square foot) in August 2007. As a result, the seller incurred a loss of $1.93 million (35%) after owning the unit for around 17 years.Read also: Is it a Good Deal?: A freehold three-bedder in Bukit Timah sold for $2,144 per square foot, netting over $2 million in profitAdvertisementThe deal on Nov 29 is the second most unprofitable transaction recorded at The Berth By The Cove to date. The biggest loss belongs to a 2,939 square-foot, four-bedroom unit at the condo that fetched $3.25 million ($1,106 per square foot) in February 2018. The seller had purchased the unit in October 2011 for $5.64 million ($1,919 per square foot), making a loss of $2.39 million.Located along Ocean Drive in Sentosa Cove, The Berth by Cove is a 200-unit, freehold condominium comprising 15 low-rise blocks of six storeys each. Apartments are made up of two- to four-bedroom units measuring 1,012 square feet to 2,325 square feet. There are also four- and five-bedroom penthouses measuring 2,939 square feet to 6,028 square feet.With seven other resale transactions at the condo this year, the units were sold at prices ranging from $1,237 per square foot to $1,535 per square foot. Four of the deals were not profitable, with the sellers making losses between $40,000 and $780,000. The remaining three transactions were profitable, with the sellers making profits from $200,000 to $430,000.

A freehold condo unit at Island View in Pasir Panjang emerged as the most profitable resale transaction in the week of Nov 26 to Dec 3. The 3,498 sq ft unit was sold for $4.8 million ($1,372 psf) on Nov 27, making it the highest recorded profit at the development. The seller had purchased the unit in September 2005 for $1.3 million ($372 psf), resulting in a gain of $3.5 million or 269% capital appreciation after 19 years of ownership.

This transaction marks a new record profit at Island View, surpassing the previous record of $3.19 million from the sale of another 3,498 sq ft unit at the condo for $5.09 million ($1,455 psf) in February 2022. The seller had bought that unit in February 2007 for $1.9 million ($543 psf).

Island View is a freehold boutique condo on Jalan Mat Jambol, off Pasir Panjang Road in District 5. It consists of 72 low-rise apartments ranging from 3,056 sq ft to 3,538 sq ft and was completed in 1984. The condo is situated within walking distance to the Pasir Panjang MRT Station on the Circle Line.

Advertisement

Meanwhile, the second most profitable condo resale deal of the week was recorded at Cavenagh Court. On Dec 2, a 1,862 sq ft unit on the sixth floor was sold for $3.65 million ($1,960 psf). The seller, who purchased the unit in April 2006 for $1.02 million ($548 psf), made a gain of $2.63 million (258%) after owning it for nearly 19 years.

This sale marks a new record profit for a unit at Cavenagh Court, beating the previous record of $2.15 million from the sale of a 1,862 sq ft unit on the fourth floor for $3.28 million ($1,761 psf) in April 2022. That unit was acquired in October 2007 for $1.13 million ($607 psf).

Cavenagh Court is a freehold condo on Cavenagh Road in District 9’s Newton area. It is a boutique development completed in 1971, comprising 68 units ranging from 1,819 sq ft to 1,862 sq ft. It is located a short drive from the Orchard Road shopping belt.

Apart from the transaction on Dec 2, there was only one other resale deal at Cavenagh Court this year, based on caveats lodged. The transaction involved a 1,840 sq ft unit on the sixth floor that changed hands for $3.82 million ($2,074 psf). The seller, who acquired the unit in August 2019 for $2.88 million ($1,565 psf), made a profit of around $938,000.

Singapore’s cityscape is defined by tall buildings and state-of-the-art infrastructure. Within this bustling urban environment, condos are a popular option for those seeking a luxurious and convenient living experience. These residences are strategically situated in prime locations, making them appealing to both locals and expatriates. They boast an array of desirable amenities, such as pools, fitness centers, and security services, which elevate the overall standard of living and make them sought after by potential tenants and buyers. For investors, these attractive features equate to higher rental returns and appreciation in property values over time. Singapore Projects are the epitome of this desirable blend of luxury and convenience. They offer a sophisticated and modern living experience in the heart of Singapore’s urban landscape.

On the other hand, the resale of a 3,089 sq ft duplex penthouse at The Berth By The Cove resulted in the least profitable condo resale deal of the week. The four-bedroom unit was sold for $3.6 million ($1,165 psf) on Nov 29, incurring a loss of $1.93 million (35%) for the seller. The unit last changed hands in August 2007 for $5.53 million ($1,790 psf).

This marks the second-most unprofitable transaction recorded at The Berth By The Cove to date, with the biggest loss belonging to a 2,939 sq ft unit that sold for $3.25 million ($1,106 psf) in February 2018. The seller had purchased that unit in October 2011 for $5.64 million ($1,919…

In summary, there are several compelling reasons to invest in a condo in Singapore. The country’s high demand for housing, potential for capital appreciation, and attractive rental yields make it an appealing choice for investors. However, it is crucial to carefully consider various factors before making a decision, such as location, financing options, government regulations, and current market conditions. Through thorough research and seeking professional advice, investors can make well-informed choices and maximize their returns in the ever-evolving real estate market of Singapore. Whether a local investor looking to diversify their portfolio or a foreign buyer seeking a stable and profitable investment, the numerous condo projects available in Singapore present an irresistible opportunity. To explore more opportunities, you can also visit https://www.siteismi.com/ for a comprehensive list of Singapore projects.

Cove, a Singapore-based flexible living platform, has announced the appointment of Ashish Manchharam, a veteran in the real estate and hospitality industry, as a board director. Manchharam, who founded and led 8M Real Estate for over a decade, has a track record of building a $1.5 billion portfolio. In 2023, he exited 8M Real Estate and went on to establish Elevate Capital in 2024, focusing on lifestyle-driven real estate investments.

In his role as an advisor, Manchharam will support Cove in acquiring flexible living assets in partnership with third-party investors, including real estate funds, institutional investors, and family offices. This ties in with Cove’s plan to accelerate its growth through the acquisition of assets, in addition to its existing asset-light model as a branded flexible living operator and online listing platform. The company primarily caters to professionals and students, and since its inception in 2018, has expanded its reach to Singapore and Indonesia, with more than 6,000 rooms.

Cove has also unveiled plans to expand its presence in the wider Asia Pacific region, with a recent foray into South Korea, where it is set to launch 800 rooms, and Japan, where it aims to have 400 rooms through local joint venture partners. To support its regional expansion and maintain its leadership position in existing markets, Cove closed an additional funding round of US$4.5 million, with Manchharam and existing investors such as Eurazeo and Keppel participating.

According to Cove CEO and co-founder Guillaume Catagne, the company experienced significant portfolio growth in 2024 and achieved positive EBITDA. As it aims to more than double its portfolio to 15,000 units by the end of 2025, Cove remains focused on strategic partnerships and expansion plans in the region.…

Welcome to the high life at Peak Residenc

William Liem, the CEO of real estate firm Tuan Sing Holdings, has once again increased his stake in the company. Through his entity Nuri Holdings (S), Liem recently purchased 545,300 shares from the open market on Dec 5, for a total of $136,325 or 25 cents each. The very next day, Nuri Holdings made another purchase of 1.2 million shares for around 25.9 cents each, adding up to a total of $311,288.50. This brings Nuri Holdings’ total stake in Tuan Sing to 672.7 million shares, which is equivalent to 54.09%.

The recent buying spree by Nuri Holdings is not the first time this has happened. In fact, Nuri Holdings also bought shares in Tuan Sing on Sept 10 and 11, paying between 25 cents and 25.5 cents per share on average. As of June 30, Tuan Sing’s net asset value per share was 97.8 cents, a slight decrease from 99 cents as of Dec 31, 2023.

Investing in a condominium in Singapore has emerged as a favored option for both local and foreign investors, thanks to Singapore’s thriving economy, stable political climate, and exceptional quality of life. The real estate market in Singapore presents a wealth of opportunities, and condos are particularly enticing due to their convenience, facilities, and potential for lucrative returns. With the addition of Singapore Projects, this article will outline the advantages, factors to consider, and necessary steps for investing in a condo in Singapore.

Tuan Sing has also been actively expanding its business, recently acquiring several assets from PT Senimba Bay Resort in Batam for a total of $28 million. With this acquisition, Tuan Sing’s portfolio of properties continues to grow, further solidifying its position in the real estate market.

Furthermore, Tuan Sing Holdings reported a 5% increase in its FY2023 earnings to $4.8 million, indicating its strong financial performance.

For those looking for a luxurious lifestyle, be sure to check out Peak Residence, one of Tuan Sing’s latest developments. With a prime location and top-notch amenities, Peak Residence offers the best of high-end living. Welcome to the high life at Peak Residence, brought to you by Tuan Sing Holdings.…

The manager of AIMS APAC REIT (AA REIT) has announced that its trustee, HSBC Institutional Trust Services (Singapore) Limited, has entered into a sales and purchase agreement with Crown Worldwide for the divestment of their property located at 3 Toh Tuck Link. The sale price of $24.388 million represents a 32.5% premium to the property’s valuation of $18.4 million as of March 31.

The property consists of a three-storey factory and a five-storey ancillary office building with a total gross floor area of 12,492.4 sqm. The sale is expected to be completed by the first half of 2025, subject to approval from JTC Corporation. The net proceeds from the divestment will be reinvested to support AA REIT’s growth initiatives, such as potential acquisitions, asset enhancements, or future redevelopment projects.

The desire for condominiums in Singapore continues to soar as a consequence of a key factor – the limited availability of land. The tiny island country is experiencing a surge in population, leading to a scarcity of land suitable for development. This has resulted in stringent land usage regulations and a cut-throat real estate market, resulting in an unceasing increase in property values. Consequently, investing in real estate, specifically condominiums, has become an incredibly lucrative endeavor with the potential for substantial growth in capital.

According to Russell Ng, CEO of the manager, this divestment aligns with their proactive asset management strategy and continuous efforts towards portfolio rejuvenation. It will ultimately strengthen AA REIT’s resiliency and deliver long-term sustainable returns for their unitholders. After the divestment, AA REIT’s portfolio will comprise of 27 properties in Singapore and Australia.…

The scarcity of land is a major contributing factor to the soaring demand for condos in Singapore. As a small country with a booming population, Singapore is faced with limited land for development. This has resulted in strict land use regulations and a fiercely competitive real estate market, where property prices are constantly on the rise. As a result, investing in real estate, especially in the form of condos, has become a highly attractive opportunity with the potential for significant capital appreciation. This trend is further amplified by the numerous Singapore Projects that offer lucrative investment prospects for interested buyers.

Jun 2, 2021 05:00 AMSINGAPORE – A conservation shophouse at 93 Tanjong Pagar Road is currently on the market, with a guide price of $15.5 million. The property, which is situated on a 99-year leasehold land with a total area of 1,297 sq ft and a gross floor area of 4,186 sq ft, is being sold through an expression of interest (EOI) exercise.

Located at the prime location of Tanjong Pagar Road, the 3½-storey shophouse is a commercial property with approval for F&B use. It is currently tenanted by a popular Korean barbecue restaurant chain on levels 1 and 2, making it an attractive investment opportunity for potential buyers.

The shophouse is conveniently situated within walking distance to the Tanjong Pagar MRT Station on the East-West Line and the Maxwell MRT Station on the Thomson-East Coast Line, providing easy access for both customers and tenants.

The property is being marketed by PropNex Shophouse Elites, and the EOI exercise will close at noon on Jan 20, 2025. Interested parties can take advantage of this rare opportunity to own a piece of Singapore’s heritage and potentially high-yielding commercial property. Contact PropNex Shophouse Elites for more information and to express interest in this unique investment opportunity.…

The Golden Mile Complex has a rich history, and it’s about to enter a new chapter. On Dec 10, Perennial Holdings and Far East Organization unveiled their vision for the revitalized conservation building at a press conference. The project, known as Golden Mile Singapore, will be Singapore’s first large-scale strata-titled conserved building with a distinct tropical linear urban complex and brutalist architecture.

When considering investing in Singapore, it is crucial for foreign investors to familiarize themselves with the governing regulations and limitations surrounding property ownership. Generally, non-residents are able to purchase condominiums relatively freely, as opposed to landed properties which have more stringent ownership rules. However, foreign buyers are still subject to the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for their initial property purchase. Despite this added expense, the stability and potential for growth in the Singapore real estate market remains a strong draw for foreign investment. Consider checking out Singapore Projects for more information on available opportunities.

The building, now called The Golden Mile, will be transformed into a commercial development featuring 156 Grade A office units, 19 medical suites, a two-storey retail component spanning 123,388 sq ft, and a public access architecture centre. Perennial and Far East announced that the office and medical units will be available for sale this month, but have not yet released pricing information.

In addition to the conservation building, a new 45-storey residential tower named Aurea will be built on the former residential carpark area. This 188-unit condominium is set for a preview in the next quarter.

Perennial Holdings CEO Pua Seck Guan reminisced about the vibrant and diverse retail scene of the Golden Mile Complex in its heyday as a mixed-use landmark in the 1970s. However, with the change in ownership over the years, the building’s status as a prime mixed-use development has declined. Pua noted that Perennial Holdings and Far East Organization are determined to revive the building’s status as a modern urban complex in Singapore.

To bring their vision to life, the developers have partnered with homegrown architecture firm DP Architects and architecture conservation specialists, Studio Lapis. Design Partnership, now known as DP Architects, was the architectural firm behind the original iconic design and mixed-use concept of the Golden Mile Complex.

Previously, retail space took up 40% of the building, with offices occupying 41% and residential units occupying the remaining 19%. However, the refreshed Golden Mile Singapore will see a shift in the ratio, with retail taking up 15% of the space, offices occupying 48%, and 30% designated for residential use. The remaining space will be occupied by the new medical suites and architecture center. As part of the government’s Community/Sport’s Facilities Scheme, the joint venture has also allocated 24,994 sq ft to URA for the establishment of an architecture center. Additionally, two new public access urban gardens will be created on the 9th and 18th floors, utilizing previously unused rooftop space.

The retail atrium will be revamped to include new event space and F&B offerings, bringing back natural light and ventilation to the shopping experience. These retail units will not be available for sale and will be curated by the joint venture partners. Pua explained that the retail component is not a major focus of the development, with the majority of the space dedicated to offices and residential units. He believes that the retail units will complement the office and residential components of the Golden Mile.

This month, Perennial and Far East will launch the preview of the strata-titled office units at the Golden Mile. There will be six different layouts available to cater to various types of businesses. The office suites will have a dedicated lobby and new lift cores to support the floors above. The original Golden Mile Complex had two lift cores, but new ones have been added to accommodate the increase in office units and provide private lift access. The office lobby will also feature a 6m high ceiling and modern facilities like a concierge and centralized access control.

The Flagship office units on the 4-7th floors will have a dedicated lobby with direct access to the basement carpark and retail floors. Each unit will also have two toilets. Loft Suites on the 4th floor and Loft Executive units on the 5th floor will have full-height windows and views of Beach Road. Meanwhile, Loft Mezzanine units on the 6th to 15th floors will feature bay views, a double-volume ceiling, and a dual-key design, similar to private residential projects. These units are the first of its kind in a strata-titled commercial development. The 16th and 17th floors will feature Enterprise Office units, which were previously duplex penthouse units and offer panoramic views of the city and bay.

At the top of the building, the newly built Crown Office units will occupy the top four floors, with four units per floor except for the penthouse level, which has two units. These offices range from 3,315 sq ft to 5,393 sq ft. Pua believes that the Loft Mezzanine units will be popular among family offices, and the other layouts will attract a diverse range of corporate tenants.

Pua added that the Golden Mile will have a mix of tenants, from corporate to family offices. The developers plan to screen potential buyers to create a diverse tenant ecosystem.…

A rare opportunity has arisen for commercial property investors with the sale of a three-storey conservation shophouse at 76 Pagoda Street in Chinatown. The property is now available through an expression of interest (EOI) exercise with a guide price of $16 million. Boasting a prime location in the bustling Chinatown enclave, the 99-year leasehold shophouse sits on a plot of 1,372 sq ft and has a generous gross floor area (GFA) of 3,500 sq ft, including an attic level. This translates to a guide price of about $4,571 psf based on its GFA. According to Richard Tan, the founder of PropNex Shophouse Elites and the sole marketing agent for the property, the ground and second floors are currently occupied by a popular restaurant, while the third floor serves as office space. AdvertisementAdvertisementAdvertisementTan adds that commercial shophouses, especially in the Chinatown area, are highly sought after by investors such as owner-occupiers, high-net-worth individuals, and family offices as long-term investment assets. Furthermore, as it is a commercial property, foreigners and companies are eligible to purchase it without having to pay for additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD). The most recent transaction in the vicinity was the sale of 31 Pagoda Street in March. That shophouse, which has an estimated GFA of 3,400 sq ft, was transacted for $19 million at $5,588 psf. When asked about the interest in the area, Tan says that based on the latest data from EdgeProp and URA, the last 10 transactions in the Kreta Ayer Conservation Area were between $2,000 psf and $11,942 psf, with an average price of $5,159 psf. It was also highlighted that the EOI exercise for the Pagoda Street shophouse will close on Jan 10, 2025. Meanwhile, over at 210 New Upper Changi Road, a 103-year leasehold shophouse is also up for sale via an EOI exercise. Kris Ng, the senior associate marketing director at PropNex, is the exclusive marketing agent for the two-storey HDB shophouse with a guide price of $13.8 million. The shophouse stands on a generous GFA of 4,607 sq ft, which is equivalent to $2,995 psf based on its GFA. The property, which is located near the popular Bedok Town Centre, is a favourite among investors because of its stable, long-term tenants. For over 20 years, the shophouse has been rented out to healthcare retailer Guardian and United Overseas Bank (UOB). Additionally, prospective buyers can look forward to being close to Bedok MRT Station on the East-West Line, Bedok Mall and Heartbeat@Bedok. Moreover, as it is a commercial property, it is also open to buyers from abroad and local companies. The EOI exercise for 210 New Upper Changi Road is also expected to close on Jan 10, 2025. Interested buyers can check out the latest listings for Commercial Real Estate properties on Ask Buddy.

Investing in a condo in Singapore has proven to be a lucrative venture for many individuals. It offers a variety of benefits, such as high demand, potential for capital appreciation, and attractive rental yields. However, before diving into this market, several crucial factors need to be carefully considered. These include the location, financing options, government regulations, and current market conditions. With thorough research and expert guidance, investors can make informed decisions and maximize their returns in Singapore’s ever-evolving real estate market. Whether you are a local investor aiming to broaden your portfolio or a foreign buyer seeking a reliable and profitable investment, condos in Singapore provide a compelling opportunity that should not be overlooked.…

Investing in a Singapore condo has become a favored decision for both local and international investors thanks to the country’s strong economy, stable political landscape, and exceptional quality of life. With the city-state’s real estate market presenting a wide range of options, condos are a particularly attractive choice for their convenience, amenities, and potential for impressive profits. In this article, we will delve into the advantages, factors to keep in mind, and necessary actions to take when considering a Singapore Condo investment.

The Great Room has launched a new co-working space at One O’Connell Street in Sydney, Australia in collaboration with LendLease. The innovative workspace covers 25,360 square feet over two levels in the office building, which was built in 1991 and is situated in the bustling Sydney CBD. Jaelle Ang, CEO of The Great Room, expressed excitement about the partnership with LendLease, stating that it will bring long-term investment and value creation to the new space at One O’Connell Street, resulting in a unique and premium offering that will lead to sustainable profitability.

The Great Room, already established in Singapore, Bangkok, Hong Kong, and Sydney, made its first foray into the Australian market earlier this year with the opening of a location at level 29 of 85 Castlereagh Street in the Sydney CBD. The company plans to continue expanding its global presence, with a total of 12 locations currently in operation. In Singapore, The Great Room recently added a new venue to its portfolio with the opening of Csuites Powered by The Great Room at Paya Lebar Quarter, marking its first venture outside of the CBD. This state-of-the-art space features private manager cabins, soundproof meeting rooms, floor-to-ceiling windows, and ergonomic workstations designed for optimal comfort and productivity.

In addition to offering top-of-the-line facilities and services, The Great Room also hosts monthly networking sessions and panel discussions for its members, creating opportunities for collaboration and connection. Since being acquired by New York-based co-working business Industrious in 2022, members of The Great Room can now access a total of 160 locations operated by both brands across Asia Pacific, Europe, North America, and the UK. With its commitment to providing exceptional co-working solutions, The Great Room is poised for continued success and growth in the years to come.…

Investing in a Singapore Condo requires careful consideration of its potential rental return. This refers to the annual rental income as a percentage of the condo’s purchase price. Various factors like location, property condition, and market demand can greatly impact the condo rental yields in Singapore. Typically, areas near business districts or educational institutions tend to offer higher rental yields due to their high demand. To gain valuable insights into the rental potential of a specific Singapore Condo, it is essential to conduct thorough market research and seek guidance from real estate agents. This will help in making an informed decision regarding the investment.

In order to meet the growing demand for housing and maintain stability in the market, the government has announced the sustained supply of private residential units in the upcoming 1H2025 GLS Government Land Sales (GLS) programme. The programme will offer a total of 8,505 units in the Confirmed List and Reserved List.

Out of the ten plots offered in the Confirmed List, nine are residential sites and three are executive condo (EC) plots. The tenth plot is a residential cum commercial site, with a potential to yield 5,030 residential units including 980 EC units. This is in line with the 5,050 units offered in the Confirmed List of the 2H2024 programme, but almost 60% higher than the average supply in each GLS programme from 2021 to 2023.

The Reserve List includes four private residential sites, one commercial site, three White sites and one hotel site, which could potentially yield an additional 3,475 private residential units and 199,900 sqm (2.15 million sq ft) gross floor area (GFA) of commercial space. This is higher than the 3,090 units offered in the 2H2024 programme, bringing the overall private housing supply in 1H2025 on par with that of 2H2024.

The progressive ramp-up of private housing supply in the GLS programmes over the last three years has increased the inventory of private residential units available for sale, from 16,100 units at the end of 2021 to around 21,000 units as of end-2024. This has contributed to the stabilisation of the private residential market, with a moderation in property price momentum. The URA private residential property price index showed a growth of 6.8% in 2023, compared to 10.6% in 2021 and 8.6% in 2022. The expected price increase for 2024 is around 1.6%.

To address the rise in EC land prices and competition among developers for EC sites, the government has increased the supply of EC sites, with three plots offering 980 units in the Confirmed List of 1H2025. This is a change from previous programmes since 2019, which only offered one EC site in each half-yearly land sales programme. This could potentially help to moderate EC land cost and prices.

Seven new plots will be introduced in the 1H2025 GLS programme, including a plot near the Jurong Lake Gardens in Jurong Lake District, and a plot in the new housing precinct in Bukit Timah Turf City. The site of the former Singapore Indian Fine Arts Society will also be launched for sale, along with a residential and commercial site at Hougang Central, which can yield a new mixed-use development with 835 residential units and over 400,000 sq ft of commercial space. The residential plot in Upper Thomson Road, which saw no bids in the previous tender, will also be offered for sale with more flexibility this time.

In the past year, for the first time, URA did not award the tender for three plots due to low bids. These sites are now listed on the Reserve List.

The majority of the sites in the 1H2025 GLS programme are near MRT stations, which could appeal to developers and homebuyers. The most attractive ones are the mixed-use site in Hougang Central, the Telok Blangah Road plot, the Dunearn Road site in a new housing precinct, and the Lakeside Drive site near the Lakeside MRT station, Jurong Lake Gardens and the Jurong East commercial hub.…