Month: December 2024

A row of four conservation shophouses situated at 762, 764, 766 and 768 North Bridge Road is currently up for sale through an expression of interest (EOI) with a guide price of $37 million.

Sitting on two plots of land spanning a total of 5,766 sq ft, the properties have an average land rate of $6,417 psf. The first plot comprises of 762 and 764 North Bridge Road, sharing a 2,891 sq ft plot and a built-up area of 4,917 sq ft, including a mezzanine level. The remaining two shophouse units at 766 and 768 North Bridge Road are located on an adjacent plot measuring 2,875 sq ft with a built-up area of 4,657 sq ft, also including a mezzanine level.

According to Isabel Sim, associate senior marketing director at Huttons Asia, the properties are exclusively marketed by the firm and have a potential for increasing the usable area by extending the rear for an outdoor terrace on the second floor, subject to approvals from the relevant authorities. This extension could add an estimated 1,000 sq ft to each land plot.

When evaluating a potential investment in a Singapore Condo, it’s crucial to also consider the potential rental yield. Rental yield refers to the annual rental income as a percentage of the condominium’s purchase price. In Singapore, the rental yields for condos can vary greatly depending on factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, tend to offer better rental yields. It is essential to conduct thorough market research and consult with real estate agents to gain valuable insights into the rental potential of a specific Singapore Condo.

The shophouses are currently tenanted by a fitness retail shop, a convenience store, and massage and reflexology service providers. As commercial properties, buyers are exempt from Additional Buyer’s Stamp Duty (ABSD), making them an attractive investment opportunity for both local and foreign investors seeking potential capital gains and stable rental yield.

With prominent frontage along North Bridge Road and high visibility and footfall in the Kampong Glam Conservation enclave, the shophouses are ideally located within walking distance of Bugis MRT Interchange, providing access to the East-West and Downtown Lines, as well as Nicoll Highway MRT Station along the Circle Line.

The area, known for its prime central location, historical significance, and vibrant commercial environment, has become a popular destination for both locals and tourists. It is home to iconic landmarks such as Sultan Mosque, located down the road from the properties, and the Malay Heritage Centre, situated on the grounds of the former Istana Kampong Glam.

The EOI exercise will close on January 10, 2025, at noon. For more information, interested parties can contact Isabel Sim at 81802707, Associate Senior Marketing Director at Huttons Asia.…

Hill House records new psf peak of $3,267 psf en bloc sale12 new sale transactions at Grange 1866 with average price of $3,181 psf in 2021The highly sought-after Grange 1866 has once again topped the list of condos that achieved a new psf-price high in the week of Nov 22 to 29. The latest record of $3,393 psf came from the sale of an 818 sq ft, two-bedroom unit for $2.78 million on Nov 27. This narrowly surpassed the previous high of $3,390 psf set in June last year when a 764 sq ft unit was sold for $2.59 million.Hill House, another prime District 9 development, took the second spot with a new record of $3,378 psf achieved on Nov 25. The sale was for a 452 sq ft, two-bedroom unit that went for $1.53 million. The third spot went to The Cosmopolitan, with a new high of $2,817 psf for the sale of a 1,324 sq ft, three-bedroom unit on Nov 25. There were no new lows recorded during the period.The Grange 1866 development, expected to be completed by end-2025, is made up of one- and two-bedroom apartments measuring between 527 and 1,012 sq ft. So far this year, there have been 12 new sale transactions at Grange 1866 at an average price of $3,181 psf. The most expensive unit transacted this year at the 60-unit project was a 1,012 sq ft, two-bedroom unit on the 16th floor, which went for $3.02 million ($2,989 psf).The boutique condo Hill House, situated on Institution Hill, saw its second record-breaking sale in November, with the new peak of $3,378 psf achieved on Nov 25. Launched in November 2022, the 72-unit development features one- and two-bedroom apartments as well as three-bedroom apartments. To date, 30 units (42%) at Hill House have been sold at an average price of $3,054 psf.The most expensive psf-price in District 9 comes from The Cosmopolitan, where a 1,324 sq ft, three-bedroom unit on the 26th floor was sold for $3.73 million ($2,817 psf) on Nov 25. The previous record was set in October last year when another 1,324 sq ft unit on the 17th floor went for $3.7 million. With a profit of $1.15 million, the sellers had bought the unit for about $2.58 million in November 2020. The freehold development comprises two-, three- and four-bedroom units with sizes ranging from 1,141 to 1,679 sq ft. It is located within 1km of River Valley Primary School and is within walking distance of Great World MRT Station on Thomson-East Coast Line. Investors and homebuyers looking for luxury living in prime District 9 should keep a close eye on these projects, as well as other new launches and resale listings in the area.
The upscale freehold development, Grange 1866, has once again claimed the top spot for seeing a new psf-price high in the week of November 22 to 29. The latest record of $3,393 psf was achieved when an 818 sq ft, two-bedroom unit was sold for $2.78 million on November 27. This surpassed the previous high of $3,390 psf set in June last year when a 764 sq ft unit was sold for $2.59 million.

Hill House, another prestigious development located in prime District 9, came in second with a new record of $3,378 psf. The sale was for a 452 sq ft, two-bedroom unit that was sold for $1.53 million on November 25. The third spot went to The Cosmopolitan, with a new high of $2,817 psf for the sale of a 1,324 sq ft, three-bedroom unit on November 25. There were no new lows recorded during the period.

Grange 1866, expected to be completed by the end of 2025, consists of one- and two-bedroom apartments ranging from 527 to 1,012 sq ft. So far this year, there have been 12 new sale transactions at Grange 1866 at an average price of $3,181 psf. The most expensive unit transacted this year at the 60-unit project was a 1,012 sq ft, two-bedroom unit on the 16th floor, which was sold for $3.02 million ($2,989 psf).

Hill House, a boutique condo situated on Institution Hill, achieved its second record-breaking sale in November with a new peak of $3,378 psf on November 25. Launched in November 2022, the 72-unit development offers one- and two-bedroom apartments as well as three-bedroom units. To date, 30 units (42%) have been sold at an average price of $3,054 psf.

When evaluating an investment in a Singapore Condo, it is crucial to also consider its potential rental yield. This refers to the annual rental income compared to the property’s purchase price. In the Singapore market, rental yields for condos can vary greatly depending on factors such as location, property condition, and demand. Typically, areas with high rental demand, such as those close to business districts or educational institutions, offer better rental yields. In order to gain a thorough understanding of a particular condo’s rental potential, it is recommended to conduct thorough market research and seek guidance from real estate agents.

The highest psf-price in District 9 is found at The Cosmopolitan, where a 1,324 sq ft, three-bedroom unit on the 26th floor was sold for $3.73 million ($2,817 psf) on November 25. The previous record was set in October last year when another 1,324 sq ft unit on the 17th floor was sold for $3.7 million. The sellers made a profit of $1.15 million, having bought the unit for about $2.58 million in November 2020. The freehold development offers two-, three-, and four-bedroom units ranging from 1,141 to 1,679 sq ft. It is located within 1km of River Valley Primary School and is within walking distance of Great World MRT Station. Investors and homebuyers seeking luxury living in prime District 9 should keep an eye on these projects, as well as other new launches and resale properties in the area.…

After two years of consecutive losses, the global real estate market has finally turned a corner, indicating a potential recovery in the industry. The low interest rates of recent years drove property values to new heights, with global total returns reaching an impressive 5.0% quarter-on-quarter in the fourth quarter of 2021 and a staggering 17.8% year-on-year in the first quarter of 2022 – far exceeding long-term averages.

However, the subsequent tightening cycle reversed these gains, bringing property values back to 2018 levels globally. This correction in the real estate market appears to be reaching its conclusion, presenting an ideal opportunity for investors to revisit this asset class. Historically, real estate has offered stable income returns and valuable diversification benefits over the long term, while also delivering strong returns during times of economic recovery. For example, following the recession in the early 1990s, investors saw a cumulative return of 76% over the course of the next five years.

In recent news, Nuveen Real Estate has announced plans to sell its stake in the mixed-use project St James Quarter and W Edinburgh Hotel in Edinburgh, Scotland in order to reallocate funds. This aligns with our belief that the real estate market is stabilizing and presents attractive investment opportunities.

In the second quarter of 2024, global property values saw moderate losses of 0.74% – the lowest quarterly adjustment in the past two years. However, offsetting income returns of 1.07% led to a positive return of 0.33%, marking the first positive quarter since 2022.

Of the 15 global markets in the MSCI Global Property Index, more than half saw increases in real estate values for the first time since 2022. This includes countries such as Japan, South Korea, Singapore, Southern Europe, the Nordics, the Netherlands, France, and the UK. Six markets saw slight losses between 0.3% and 1.5%, but all of these have moderated since the first quarter of 2024. The only outlier was Australia, where a larger write-down of 4.2% in the second quarter aligned its valuations with those of its peers. However, it’s important to note that changes in capital values are just one aspect of real estate returns. Income returns have historically been the main driver of overall performance, underlining the need for investors to consider both capital and income aspects when evaluating real estate investments.

Total returns, which combine capital and income returns, were positive in 12 of the 15 countries in the MSCI Global Property Index in the second quarter. They remained flat in the US at -0.09%, marginally negative in Ireland at -0.22%, and significantly negative in Australia at -3.07%. However, the preliminary NCREIF ODCE index, which is a capitalization-weighted, gross-of-fee, time-weighted return index for US property, showed a positive return of 0.25%. As property values continue to rebound, we anticipate a positive trajectory for total returns.

Looking to Asia Pacific, there are indications of a potential rebound in real estate investment globally after two slow years. However, China and Japan may face some challenges. In the third quarter of 2024, China and Japan accounted for 27% and 15% of the US$7.5 billion ($10.04 billion) in cross-border inflows in the region. However, both countries are facing high debt costs and other factors that may hinder a strong rebound in real estate capital inflows. China, in particular, has seen a decline in demand from the Western market, and with the ongoing property crisis, many European investors are avoiding it despite its potential returns. Japan remains an outlier in terms of interest rates, which has limited cap rate compression and dampened the appeal of the broader property sector. However, assets such as senior housing, which cater to Japan’s aging population, continue to be attractive due to consolidation opportunities for investors.

Singapore is a prime location for investing in condos due to its potential for capital appreciation. With its position as a global business hub and strong economic foundation, there is a constant demand for real estate in the country. This has resulted in a steady increase in property prices over the years, especially for condos located in prime areas. By entering the market at the opportune moment and holding onto their properties for a significant duration, investors can reap the benefits of considerable capital gains. This is further enhanced by the Singapore Projects launched in recent years, providing even more potential for capital appreciation.

One area that presents potential for growth is Australia’s purpose-built student accommodation (PBSA) market. With a significant shortage of student housing in cities like Melbourne and Sydney, only 20% of students can be accommodated by universities, leaving the rest to look for private rentals. Additionally, real estate debt in Australia offers appealing risk-adjusted returns, with funding gaps in construction projects and developers struggling to secure bank financing. Sectors such as logistics and PBSA offer long-term growth opportunities.

Overall, the real estate market appears to be near its bottom, with stabilizing valuations and transaction market pricing. However, these signals alone do not guarantee an attractive entry point for investors. For market pricing and valuations to continue rising, we would ideally see declining interest rates and strengthening property fundamentals. Most major central banks are tapering interest rates, which should lead to lower financing rates, discount rates, and property capitalization rates, thereby increasing the value of real estate assets. Additionally, a reduction in construction activity across sectors bodes well for property fundamentals, with markets experiencing positive demand due to factors such as population growth and shifts towards e-commerce likely to see increased occupancies in the medium term. Historically, occupancies and rent growth have been strongly correlated, offering investors opportunities to benefit from rising occupancies, rents, and ultimately, property values.

While some challenges remain, such as the struggling US office market, the overall outlook for global private real estate is improving. 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 climate, risks are inevitable, but this applies to all asset classes. Over the past two years, the weight of real estate in investors’ portfolios has decreased significantly due to resetting values and a record-breaking stock market. However, with the market now showing signs of recovery, it may be an opportune time for investors to consider increasing their allocation to private real estate to achieve a strategic weighting in their portfolios. Over the long term, real estate has demonstrated low correlations to other asset classes, strong income returns, and the potential for inflation-hedging. While there may be challenges along the way, we believe the tide is turning for the real estate market and presents promising opportunities for savvy investors.…

One advantage of investing in condominiums is the opportunity to leverage the property’s value for other investments. Numerous investors utilize their condos as security to acquire additional financing for new ventures, enabling them to broaden their real estate portfolio. This tactic can increase profits, yet it also carries some risks. Therefore, it is essential to have a solid financial strategy and carefully evaluate any potential impact of market changes. Additionally, considering Singapore Projects can provide valuable options for investing and diversifying one’s real estate portfolio.

The top condominium resale deal of the week in Singapore’s property market took place at Island View, a freehold condo located in Pasir Panjang. The sale of a 3,498 sq ft unit on Nov 27 for $4.8 million ($1,372 psf) was the most profitable transaction during the week of Nov 26 to Dec 3.

The unit was originally purchased in September 2005 for $1.3 million ($372 psf), making the seller a significant gain of $3.5 million after owning it for approximately 19 years. This represents a capital gain of 269% or an annualized profit of 14.2%. The transaction on Nov 27 also sets a new record for the most profitable deal at Island View, surpassing the previous record of $3.19 million made in February 2022 when another 3,498 sq ft unit was sold for $5.09 million ($1,455 psf). The seller had bought the unit in February 2007 for $1.9 million ($543 psf).

Island View is a boutique condo with 72 units located on Jalan Mat Jambol, off Pasir Panjang Road in District 5. The freehold development was completed in 1984 and comprises low-rise blocks housing apartments ranging from 3,056 sq ft to 3,538 sq ft. It is within walking distance to Pasir Panjang MRT Station on the Circle Line. A collective sale attempt was made by the owners of Island View in September 2023, with a guide price of $575 million. However, after the tender closed the following month with no bids, the condo was relisted for sale in March at the same price but failed to attract a buyer.

The second most profitable condo resale deal of the week took place at Cavenagh Court, where a 1,862 sq ft unit on the sixth floor was sold for $3.65 million ($1,960 psf) on Dec 2. The seller had purchased the unit in April 2006 for $1.02 million ($548 psf), making a gain of $2.63 million (258%) after owning it for almost 19 years. This sets a new record for the most profitable deal at Cavenagh Court, surpassing the previous record of $2.15 million made in April 2022 when a 1,862 sq ft unit on the fourth floor was sold for $3.28 million ($1,761 psf). The seller of that unit had bought it in October 2007 for $1.13 million ($607 psf).

Cavenagh Court is a freehold condo located on Cavenagh Road in District 9’s Newton area. Completed in 1971, it has 68 units ranging from 1,819 sq ft to 1,862 sq ft. It is a short drive to the Orchard Road shopping district. Apart from the unit sold on Dec 2, only one other resale transaction has been recorded this year for the development. A 1,840 sq ft unit on the sixth floor was sold for $3.82 million ($2,074 psf), with the seller making a gain of about $938,000. In contrast, the sale of a duplex penthouse at The Berth By The Cove was the least profitable condo resale deal of the week. The four-bedroom apartment spanning 3,089 sq ft was sold for $3.6 million ($1,165 psf) on Nov 29. The unit was last purchased in August 2007 for $5.53 million ($1,790 psf), resulting in a loss of $1.93 million (35%) for the seller after around 17 years of ownership.

This transaction is the second most unprofitable deal recorded at The Berth By The Cove to date, with the worst loss belonging to a 2,939 sq ft unit sold in February 2018 for $3.25 million ($1,106 psf). The seller had bought it in October 2011 for $5.64 million ($1,919 psf), incurring a loss of $2.39 million.

The Berth by the Cove is a freehold condo on Ocean Drive in Sentosa Cove, comprising 200 units across 15 low-rise blocks of six storeys each. The apartments range from two to four bedrooms of 1,012 sq ft to 2,325 sq ft, and there are also four- and five-bedroom penthouses of 2,939 sq ft to 6,028 sq ft. There have been seven other resale transactions at the condo this year, with units sold at prices ranging from $1,237 psf to $1,535 psf. Four of the transactions resulted in losses of between $40,000 and $780,000, while the other three resulted in profits of $200,000 to $430,000.…

Singapore-based flexible living platform, Cove, has recently welcomed Ashish Manchharam, a seasoned real estate and hospitality expert, as a new member of their board of directors. Manchharam brings with him an impressive track record, having successfully founded and grown 8M Real Estate over a period of 10 years, managing to amass a portfolio worth $1.5 billion. In 2023, he decided to step away from 8M Real Estate and in early 2024, he established Elevate Capital with a focus on lifestyle-driven real estate investments.

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When considering real estate investments, location is of the utmost importance, especially in Singapore. The value of condos in this city is greatly influenced by their location. Properties situated in central areas or in close proximity to vital amenities like schools, shopping centers, and public transportation hubs tend to have a higher appreciation in value. This is evident in prime locations such as Orchard Road, Marina Bay, and the CBD, where property values have consistently shown growth. Families often prioritize condos in these areas due to the convenience of nearby schools and educational institutions, making them even more desirable and increasing their investment potential. For more information on Singapore projects, check out Singapore Projects.

In his role as an advisor, Manchharam will lend his expertise to Cove in its pursuit of acquiring flexible living assets in partnership with third-party investors, such as real estate funds, institutional investors, and family offices. This move falls in line with Cove’s strategy to accelerate its growth through an asset acquisition model, in addition to its existing asset-light model as a flexible living operator and online listing platform for professionals and students.

Since its establishment in 2018, Cove has successfully expanded its presence to over 6,000 rooms in Singapore and Indonesia. The platform has set its sights on a wider expansion into the Asia Pacific region, with recent ventures in South Korea and Japan. As part of a local joint venture, Cove plans to launch 800 rooms in South Korea and 400 rooms in Japan.

To support its growth plans, Cove has successfully closed an additional round of funding worth US$4.5 million. The round saw the participation of Manchharam, along with existing investors such as Eurazeo and Keppel, who previously acquired a minority stake in the company in December 2020.

According to Cove CEO and co-founder, Guillaume Catagne, the company has experienced significant portfolio growth and achieved positive EBITDA in 2024. With the aim to double its portfolio to 15,000 units by the end of 2025, Cove is determined to strengthen its leadership position in existing markets and continue its regional expansion.…

William Liem, the CEO of Tuan Sing Holdings, has once again increased his stake in the company. Using an entity called Nuri Holdings (S), Liem purchased 545,300 shares from the open market on December 5 for a total of $136,325.00, or 25 cents per share. This was followed by another 1.2 million shares bought the next day for $311,288.50, at an average of 25.9 cents per share. These purchases have brought Nuri Holdings’ stake in Tuan Sing to approximately 672.7 million shares, accounting for 54.09% of the company.

The popularity of investing in a Singapore Condo has experienced a significant surge in recent times, attracting the attention of both local and foreign individuals looking to invest. This can be attributed to Singapore’s strong economy, stable political climate, and exceptional quality of life, making it a desirable location for real estate investments. Singapore’s real estate market offers a plethora of options for investors, with condos emerging as a top choice due to their convenience, amenities, and potential for profitable returns. In this article, we will delve into the advantages of investing in a Singapore Condo, important factors to consider, and the necessary steps to take for a successful investment.

In addition to these recent transactions, Nuri Holdings had also purchased shares on September 10 and 11, with Liem paying an average price of 25 to 25.5 cents per share. As of June 30, the net asset value of the company was recorded at 97.8 cents per share, slightly lower than the value of 99 cents on December 31, 2023.

In other news, Tuan Sing has announced its acquisition of several assets from PT Senimba Bay Resort in Batam for $28 million. This was followed by the company’s report of a 5% increase in earnings to $4.8 million for the fiscal year of 2023. With Tuan Sing’s continuous growth and investments, the company’s future looks bright for both the CEO and shareholders alike.…

The manager of AIMS APAC REIT (AA REIT) has announced that the REIT’s trustee, HSBC Institutional Trust Services (Singapore) Limited, has entered into a sales and purchase agreement with Crown Worldwide for the divestment of its property located at 3 Toh Tuck Link. The sale consideration of $24.388 million is a significant increase of 32.5% from the property’s valuation of $18.4 million as of March 31. The property, which consists of a three-storey factory and a five-storey ancillary office building with a total gross floor area of 12,492.4 sqm, has attracted a premium price.

According to Russell Ng, CEO of the manager, the divestment aligns with the REIT’s proactive asset management strategy and efforts to continuously rejuvenate its portfolio. The net proceeds from the sale will be reinvested to support the REIT’s growth initiatives, including potential new acquisitions, asset enhancement initiatives, or future redevelopment projects. This move not only strengthens the resiliency of AA REIT but also ensures sustainable returns for its unitholders in the long term.

When considering an investment in a Singapore Condo, it is crucial to carefully examine the financing options available. In Singapore, the Total Debt Servicing Ratio (TDSR) framework plays a crucial role in determining the amount of loan a borrower can take based on their income and existing debt obligations. It is essential for investors to familiarize themselves with this framework and seek guidance from financial advisors or mortgage brokers when making financing decisions. This not only protects against over-leveraging but also increases the likelihood of a successful investment in a Singapore Condo.

The divestment is expected to be completed in the first half of 2025, subject to approval from JTC Corporation. After the completion of the sale, AA REIT’s portfolio will consist of 27 properties located in Singapore and Australia. This divestment marks a strategic step towards the REIT’s goal of portfolio rejuvenation and growth.…

A 99-year leasehold conservation shophouse located at 93 Tanjong Pagar Road is currently on the market and up for sale through an expression of interest (EOI) exercise. With a guide price of $15.5 million, this 3½-storey property sits on a land area of 1,297 sq ft and boasts a gross floor area (GFA) of 4,186 sq ft. At the guide price, this translates to $3,703 psf for the GFA.

When it comes to investing in condos in Singapore, it is important to take into consideration the government’s property cooling measures. In order to maintain a stable real estate market, the Singaporean government has implemented various measures to discourage speculative buying. This includes the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those buying multiple properties. While these measures may affect the immediate profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a more secure investment environment. It is also worth noting that Singapore Projects play a significant role in the success of condo investments.

The shophouse is approved for commercial use and is currently tenanted by a popular Korean barbecue restaurant chain on levels 1 and 2. The property, which holds a 99-year lease, is conveniently situated within walking distance of the Tanjong Pagar MRT Station on the East-West Line and the Maxwell MRT Station on the Thomson-East Coast Line.

Market by PropNex Shophouse Elites, this property has been officially advertised and the EOI will close at noon on Jan 20, 2025. This conservation shophouse is a highly sought-after commercial property due to its prime location and is expected to attract strong interest from potential buyers.

The surrounding area is a bustling hub of activity, with easy access to a wide range of amenities and services. In addition, the property’s approval for F&B use makes it an even more appealing investment opportunity. Don’t miss the chance to own this coveted property today. Contact PropNex Shophouse Elites for more information.…

Perennial Holdings and Far East Organization have announced their plans for the revitalization of Golden Mile Complex, now known as Golden Mile Singapore. This will be Singapore’s first large-scale strata-titled conserved building, preserving its iconic identity as a tropical linear urban complex with brutalist architecture.

The conserved building, now called The Golden Mile, will house 156 Grade A office units, 19 medical suites, a two-storey retail component spanning 123,388 sq ft, and a public access architecture centre. The entire development will be known as Golden Mile Singapore.

According to CEO Pua Seck Guan, Perennial Holdings and Far East Organization are determined to elevate and recapture the status of Golden Mile Complex as a next-generation urban complex in Singapore. They have partnered with DP Architects and Studio Lapis to design the project. Both firms were involved in the initial design and development of Golden Mile Complex.

Previously, 40% of the strata area at Golden Mile Complex was reserved for retail, with 41% for offices and 19% for residential use. The revamped Golden Mile Singapore will see a reduction in the retail area to 15%, with offices occupying 48%, and 30% set aside for residential use. The remaining 4% and 3% will be used for medical suites and the architecture centre, respectively. The architecture centre will be established under the government’s Community/Sport’s Facilities Scheme, with 24,994 sq ft of land given back to URA for its construction.

Two new public access urban gardens will be created on the 9th and 18th floors, utilizing previously vacant spaces in the complex. The rooftop will also be turned into a sky garden on the 18th floor.

The decision to invest in a condo in Singapore has become increasingly popular among not only local but also foreign investors. This is largely due to the city-state’s strong economy, political stability, and excellent standard of living. With a thriving real estate market, Singapore offers a multitude of investment opportunities, and condos are especially attractive for their convenience, amenities, and potential for high returns. In this article, we will delve into the advantages, factors to consider, and necessary steps to take when investing in a condo in Singapore. So why wait, jump on the Condo bandwagon now!

The new two-storey retail component will feature an event space and F&B options, replicating the original street shop-style retail experience. These units will not be available for sale and will be curated by the developers.

The office units and medical suites will be available for sale this month, with six different office layouts to cater to a variety of end-users. The office suites will have a dedicated lobby, and new lift cores will be added to support the office floors above. The Flagship office units on the 4-7th floors will have direct access to the basement carpark and retail floors. The Loft Mezzanine units on the 6th-15th floors will have bay views and a double-volume ceiling, while the Loft Executive units on the 5th floor will offer full-height windows with landscape views.

Meanwhile, a new 45-storey residential tower, called Aurea, is being developed on the site of the former residential carpark. The 188-unit condominium is scheduled to be previewed next quarter.

Pua believes that the office units, particularly the Loft Mezzanine units, will appeal to family offices. The other layouts will cater to a variety of corporate tenants.

The joint venture partners aim to create an ecosystem of tenants from various industries and market segments. The Golden Mile will comprise a mix of tenant profiles, from corporate tenants to family offices. Prospective buyers will be screened for their suitability to create a diverse community within the development.…

A three-storey conservation shophouse located at 76 Pagoda Street in Chinatown is currently up for sale through an expression of interest (EOI) exercise. With a guide price of $16 million, the 99-year leasehold commercial property sits on a 1,372 sq ft plot of land and offers a total gross floor area (GFA) of 3,500 sq ft, including an attic level. Based on the GFA, the indicative price translates to approximately $4,571 per sq ft.

According to Richard Tan, founder of PropNex Shophouse Elites and the sole marketing agent for the property, the ground and second floors are currently leased to a restaurant operator, while the third floor is being used as office space. Tan also adds that commercial shophouses, particularly those located in the Chinatown area, are highly sought after by owner-occupiers, high-net-worth individuals, or family offices, as they serve as a stable long-term investment option. Furthermore, as this is a commercial property, foreigners and companies are eligible to acquire it without incurring additional buyer’s stamp duty or seller’s stamp duty.

The most recent shophouse transaction on Pagoda Street took place in March, involving the sale of 31 Pagoda Street for $19 million ($5,588 per sq ft). This shophouse has an estimated GFA of 3,400 sq ft.

The EOI exercise for 76 Pagoda Street will close on January 10, 2025.

In a separate transaction, a two-storey HDB shophouse located at 210 New Upper Changi Road is also currently up for sale through an EOI exercise with a guide price of $13.8 million. Boasting a 103-year leasehold term, this property offers a GFA of 4,607 sq ft, which equates to a price of $2,995 per sq ft based on GFA.

According to Kris Ng, senior associate marketing director at PropNex who is marketing the property, one of the key selling points of this property is its long-term, stable tenants. For the past two decades, the property has been leased to healthcare retailer Guardian and United Overseas Bank (UOB). Located within the Bedok Town Centre, the shophouse is also in close proximity to Bedok MRT Station, Bedok Mall, and Heartbeat@Bedok.

Once again, due to its commercial status, foreigners and companies are able to purchase the property without incurring ABSD or SSD.

Evaluating the profitability of a condo investment goes beyond its initial purchase price. Another crucial factor to consider is 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 significantly, depending on various factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, offer better rental yields. To gain a deeper understanding of the rental potential of a specific condo, conducting thorough market research and seeking advice from real estate agents can be immensely beneficial. Keep abreast of the latest new condo launches to stay updated with the ever-changing market trends.

The EOI exercise for 210 New Upper Changi Road will close at noon on January 10, 2025.…