Month: February 2025

Mandarin Gardens records most profitable condo resale transaction during Feb 7 – 14Mandarin Gardens recorded the most profitable condo resale transaction during the week of Feb 7 to Feb 14 with a 3,800 sq ft, four-bedroom unit fetching $4.88 million, or $1,284 psf, on Feb 11.Read also: What is the most profitable resale transaction at Mandarin Gardens?A 3,800 sq ft, four-bedroom unit at Mandarin Gardens was sold for $4.88 million, or $1,284 psf, on Feb 11, making it the most profitable condo resale transaction during the week of Feb 7 to Feb 14.Read also: What is the record for the most profitable transaction at Mandarin Gardens?The deal also breaks the record for the most profitable transaction recorded at Mandarin Gardens. The previous record was held by a 3,068 sq ft four-bedroom unit on the 20th floor, which was sold for $4.1 million ($1,336 psf) in September 2021.Read also: What was the purchase price for the 3,800 sq ft unit at Mandarin Gardens?According to URA records, the eighth-floor unit at Mandarin Gardens was bought for $1.05 million ($276 psf) in June 2003, making the recent sale a profit of $3.83 million for the seller.Read also: How much profit did the seller make from the Feb 11 transaction at Mandarin Gardens?The sale resulted in a profit of $3.83 million for the seller, or 364.8% of their original purchase price. This translates to an annualised capital gain of 7.4% over 21½ years.Read also: What was the previous record for the most profitable transaction at Mandarin Gardens?The previous record for the most profitable transaction at Mandarin Gardens was held by a 3,068 sq ft four-bedroom unit on the 20th floor. The unit was sold for $4.1 million ($1,336 psf) in September 2021.Read also: What is the buyer profile for Mandarin Gardens?Mandarin Gardens spans 17 blocks, ranging from nine to 23-storeys tall along Siglap Road in District 15. The 1,006-unit development is a mix of one- to two-bedroom apartments from 732 sq ft to 1,001 sq ft and three- to four-bedroom units from 1,528 sq ft to 3,800 sq ft. It also has 11 strata commercial units.Read also: When was Mandarin Gardens built and what is its tenure?Mandarin Gardens was completed in 1988 and has a 99-year leasehold tenure starting from 1982. There are about 56 years remaining in the lease.Read also: What is the average resale price trend at Mandarin Gardens since September 2023?Resale prices at Mandarin Gardens have stagnated since September 2023 when the average price broke the $1,300 psf mark. Since then, prices peaked at $1,316 psf in June 2024, before falling slightly to $1,310 psf as of Feb 25.Read also: When was the last four-bedroom unit sold at Mandarin Gardens and at what price?The last four-bedroom unit sold at Mandarin Gardens was a similarly sized 3,800 sq ft unit on the ninth floor that fetched $4.26 million ($1,122 psf) in June 2023.Read also: When was the most recent profitable transaction before the one recorded on Feb 11 at Mandarin Gardens?The most recent profitable transaction prior to the Feb 11 sale was recorded in June 2023, when a 3,800 sq ft four-bedroom unit on the ninth floor was sold for $4.26 million ($1,122 psf).Read also: What is the record for the most profitable transaction at Parvis?The record for the most profitable sale at Parvis is held by a 2,605 sq ft, four-bedroom unit that fetched $5.4 million ($2,073 psf) in November 2022. It was previously bought for $3.21 million ($1,230 psf) in December 2009, making the recent sale a profit of $2.19 million (68.2%), or an annualised gain of 4.1% over 13 years.Read also: How many profitable transactions have been recorded at Parvis?There have been five profitable transactions recorded at Parvis, with the most recent being on Feb 10 when a 2,788 sq ft, four-bedroom unit was sold for $6.1 million ($2,188 psf).Read also: Are there any profitable transactions at Parvis this year?The recent sale on Feb 10 was the only profitable transaction recorded at Parvis this year and the second-most profitable transaction during the period in review.Read also: When was the last profitable transaction at Parvis before the one recorded on Feb 10?The last profitable transaction at Parvis before the one recorded on Feb 10 was in January 2024, when a unit on the 12th floor was sold for $6.1 million ($2,188 psf). It was last bought for $4.25 million ($1,524 psf) in 2011.Read also: What is the buyer profile at Parvis?Schools within 2km of Parvis include Henry Park Primary School, Nanyang Primary School, New Town Primary School and Queenstown Primary School. The condo is a five-minute walk to Holland Village MRT Station in the Circle Line, making it an attractive location for families with children.Read also: When was the last unprofitable transaction at Scotts Square and at what price?The most unprofitable transaction recorded between Feb 7 and Feb 14 was the sale of a two-bedroom unit at Scotts Square that fetched $3.08 million ($3,252 psf). The unit had last changed hands for about $3.83 million ($4,039 psf) in December 2007. This resulted in a $745,880 loss (19.5%) for the seller.Read also: How many unprofitable transactions have been recorded at Scotts Square?Since its launch in 2007, a total of 69 unprofitable transactions have been recorded at Scotts Square, with 18 (26%) resulting in a seven-figure loss. The most unprofitable transaction recorded is from a unit that was bought at launch in August 2007 for $5.21 million ($4,171 psf) and sold in February 2017 for $3.65 million ($2,923 psf). This resulted in a loss of $1.56 million (30%) over 10 years.Read also: How have prices at Scotts Square trended since its launch in 2007?According to EdgeProp’s analytical tools, the average resale price of units at Scotts Square has been trending downwards since its launch in 2007. Prices peaked at $4,054 psf in July 2007 before falling to a low of $3,330 psf in August 2020. As of last month, the average price for resale units at Scotts Square was $3,398 psf.Read also: What are the amenities available at Scotts Square?Scotts Square is a mixed-use freehold development located along Scotts Road in the Orchard shopping belt. Completed in 2011, it has two luxury residential towers of 43 and 34 storeys with a total of 338 apartments and a four-storey retail podium.Residential units at the condo contain a mix of one- to three-bedroom units from 603 sq ft to 1,249 sq ft. Amenities at the condo include concierge services, a gym, a lap pool and a sky pool on the 35th floor.Read also: What is the tenure of Scotts Square?Scotts Square is a freehold development with a total of 338 residential and commercial units.

Investing in a condo in Singapore comes with numerous advantages, one of which is the potential for capital appreciation. Thanks to its strategic position as a global business hub and solid economic foundations, Singapore enjoys a consistent demand for real estate. As a result, property prices have steadily increased over the years, especially for condos in prime locations. By entering the market at the opportune moment and holding on to their properties for the long haul, investors can reap significant gains in capital. This is especially true for those who choose to invest in one of the highly sought-after Singapore Projects.…

During the period of Feb 7 to 16, the sale of a two-bedroom unit at Hill House set a new record for the highest psf-price achieved among private condos. This 999-year leasehold development located at the top of Institution Hill, off River Valley Road, saw a transaction of $3,398 psf for a compact 452 sq ft unit on the eighth floor. This surpassed the previous high of $3,378 psf, also for a 452 sq ft two-bedroom unit on the eighth floor, sold for $1.53 million on Feb 11. The boutique condo, launched in 2022, comprises of 72 units consisting of one-bedroom, two-bedroom, and three-bedroom apartments.Search for the latest New Launches to get the latest transaction prices and options for available units.AdvertisementAdvertisementAnother 999-year leasehold condo, The Tresor, also saw a new psf-price high during the Feb 7 to 16 period. A resale transaction for a 1,421 sq ft unit on the fifth floor fetched $2,625 psf and a record $3.73 million. This beat the previous high of $2,501 psf, set in March 2024 for a 1,399 sq ft, three-bedroom unit on the second floor, sold for $3.5 million. The Tresor is a 62-unit development located at Duchess Road in District 10, with a mix of two-, three-, and four-bedroom apartments spanning from 990 to 2,896 sq ft.AdvertisementPhoto: Samuel Isaac Chua/EdgeProp SingaporeJadescape rounds out the top three on the list, with a new record of $2,459 psf achieved for a 1,647 sq ft, four-bedroom unit on the 22nd floor sold for $4.05 million on Feb 7. The previous high was $2,446 psf for a 1,259 sq ft unit on the 10th floor, sold in January. The 99-year leasehold condo, completed in 2022, has 1,206 units across seven residential towers offering one- to five-bedrooms and two penthouses, one of which is a 4,230 sq ft duplex unit. Located at the junction of Marymount Road and Shunfu Road, the development is within walking distance of Marymount MRT Station and Sin Ming Plaza.In conclusion, these three private condos achieved new psf-price highs during the period of Feb 7 to 16. Hill House, The Tresor, and Jadescape saw transaction prices of $3,398 psf, $2,625 psf, and $2,459 psf respectively.

It is crucial for international investors to have a clear understanding of the rules and limitations surrounding property ownership in Singapore. In general, foreigners are permitted to buy condos with minimal restrictions, in contrast to landed properties which have more stringent ownership regulations. However, it is important to note that foreign buyers are required to pay the Additional Buyer’s Stamp Duty (ABSD), which is currently set at 20% for their first property acquisition. Despite this extra expense, the stability and potential for growth in the Singapore real estate market continues to draw in foreign investments. This is especially true for Singapore Condos which remain a sought-after option for foreign buyers.…

Chiu Teng Group, renowned for its successful developments of quality commercial and industrial spaces in Singapore, is set to impress property investors and business owners with its latest launch – CT Pemimpin. This new freehold development in the Central Region is a rare find in the land-scarce city-state.

Located at 43 Jalan Pemimpin, CT Pemimpin is a nine-storey partial ramp-up B1 industrial building comprising 56 strata-titled units and three canteen units. The building offers a range of floor heights, from 5.6m to 7.35m, and selected units on levels one and five also come with mezzanine floors.

Standing out with its freehold status, CT Pemimpin is a gem in today’s market where most industrial developments are on a 30-year or 60-year lease. This makes it an attractive alternative for both investors and foreigners who are eligible to buy, as they are not subject to additional buyer’s stamp duty (ABSD) by the government.

According to Kelvin Fong, Deputy CEO of PropNex Realty, “Being a freehold development in this centralised location, it will be a good investment asset for both investors and end-users.”

CT Pemimpin also offers a generous one-to-one carpark ratio, with 59 carpark lots including two electrical vehicle lots, three lorry lots for rigid-frame vehicles under 7.5m in length, two handicapped lots, and 34 bicycle lots. The development is well-equipped with two passenger lifts and a service lift, and each unit comes with its own private toilet for convenience.

“One of the standout perks of CT Pemimpin is the allocated carpark lot for each of the 59 units, offering convenience for business owners. This ensures seamless accessibility and time-saving,” says Ken Low, SRI managing partner.

The partial ramp-up design of CT Pemimpin also enhances accessibility for day-to-day operations, making it easier to load and unload goods. This contributes to overall logistics efficiency, making it an ideal choice for businesses looking for convenience, functionality, ease of access, and a superior central location, adds Low.

Situated in District 20, CT Pemimpin is highly sought after by buyers and tenants due to its close proximity to established townships such as Bishan, Upper Thomson, and Ang Mo Kio. Its strategic location offers excellent accessibility and connectivity to all parts of Singapore through various transport modes. The industrial estate is also well-served by three MRT lines, making it convenient for those who commute to work by public transport.

“Owning a freehold property in Singapore’s central region isn’t just a smart investment – it’s a strategic business asset. Positioned in one of the city’s most dynamic and prestigious locations, it offers an impressive corporate address, unmatched connectivity, and enduring potential for growth,” says Doris Ong, Deputy CEO of ERA.

Located just a five-minute walk from Marymount MRT station (Circle MRT Line), CT Pemimpin is also easily accessible via Upper Thomson MRT station (Thomson-East Coast Line) and Bishan MRT station (North-South MRT Line), both just a five-minute drive away. It is also a short drive from Novena and Orchard Road, with convenient access to major expressways such as PIE and CTE. Furthermore, its connectivity will be enhanced with the upcoming North-South Corridor, which aims to reduce travel time from the north into the city, scheduled for completion in phases from 2027.

The development is surrounded by a range of retail and dining options at popular suburban shopping hubs such as Junction 8, Thomson Plaza, Velocity@Novena Square, AMK Hub, NEX, Woodleigh Mall, Toa Payoh HDB Hub, all just a few minutes’ drive away. Additionally, various reputable schools, including Raffles Institution, Catholic High School, and Eunoia Junior College, are within close proximity.

CT Pemimpin also boasts an array of green features for a more sustainable future. The building will be equipped with convenient ‘end-of-trip’ facilities such as shower rooms, bicycle racks, and storage lockers. Other sustainable features include a sky garden with two rooftop pavilions for outdoor gatherings, rooftop solar panels, and EV charging stations. Units will also be fitted with water-saving fittings, motion-sensor lighting, and double-glazed windows (for selected units). These features, together with a recycling corner, will contribute to a greener and more eco-friendly environment.

“With water-saving fittings, double glazed windows for certain units, and many other green features for sustainability, CT Pemimpin aims to shape a greener and more committed future. It has superb specifications to suit many end-users in industries ranging from e-commerce, media houses, telecommunications, software development, and others,” says Mark Yip, CEO of Huttons Asia.

Investing in real estate is a smart move, but you have to consider location carefully. Singapore is a prime example of the importance of location when it comes to property investment. Condos located in central areas or near crucial amenities, such as schools, shopping centers, and public transportation, tend to have higher appreciation value. The areas of Orchard Road, Marina Bay, and the Central Business District (CBD) are perfect examples of prime locations in Singapore, where property values have consistently increased. Families also prefer condos in these areas due to their proximity to good schools and educational institutions, making them highly desirable, and further adding to their investment potential. When it comes to investing in real estate, the location is a crucial factor to consider, and this holds especially true for Singapore. Condos situated in central areas or near essential amenities like schools, shopping malls, and public transportation hubs have a higher potential for value appreciation. Areas such as Orchard Road, Marina Bay, and the Central Business District (CBD) are prime locations in Singapore where property values have shown consistent growth. With the added convenience of being near good schools and educational institutions, these condos are highly sought-after by families, making them even more attractive for investment. For those looking to invest in real estate in Singapore, it’s essential to prioritize the location, and choosing a Singapore Condo in a prime area can provide a rewarding return on investment.

Established in 1999, Chiu Teng Group has built a reliable reputation in developing and constructing quality commercial and industrial spaces in Singapore. The company’s portfolio includes well-received industrial and residential projects such as CT FoodNEX, CT Foodchain, The Creek@Bukit, Tagore8, and CT Hub & Hub 2.

The preview for CT Pemimpin will end on March 5, 2025. To secure a rare freehold industrial space, call 8100 8017 or visit Chiu Teng Group to schedule a viewing.…

(SINGAPORE) A pair of adjoining retail units located on the third floor of Sim Lim Square will be featured at the next auction by ERA on Feb 27. The guide price for the two units combined is $3.38 million.The larger unit, measuring 958 square feet, has a guide price of $2.08 million ($2,171 per square foot). The smaller unit, measuring 570 square feet, has a guide price of $1.28 million ($2,246 per square foot).This marks the first time both units have been listed on ERA’s auction listings. They are available for sale individually or as a pair. According to ERA’s assistant vice president of auction and sales, Alison Lee, the units are priced competitively. “They are priced slightly below the market average to encourage a quick sale.”Sim Lim Square has a reputation as a hub for technology, with a concentration of electronics, gadgets, and computer parts retailers. The development, however, also includes several other businesses, such as eateries and traditional Chinese medicine shops.Read also: Three-bedroom Gambier Court unit for sale at $2.64 milAdvertisementAdvertisementOver the past 12 months, retail units at Sim Lim Square have been sold at an average price of $2,997 per square foot, according to EdgeProp Singapore’s analytical tools. In December 2024, a 592 square foot retail unit on the ground floor was sold for $1.92 million ($3,241 per square foot).At present, both units are tenanted, bringing in an approximate monthly rental income of $4.50 per square foot. According to EdgeProp Singapore’s rental data, which is based on a rolling 12-month average, retail units at Sim Lim Square rent for between $4.20 and $7.30 per square foot per month.In April 2019, the owners of Sim Lim Square launched a collective sale tender with a reserve price of $1.25 billion, but the tender did not result in a sale. In December of the same year, it was relaunched at the same price but still did not sell. Lee states a new collective sale committee is being formed to consider another attempt in the near future.Complet

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Ultimately, purchasing a condominium in Singapore presents numerous advantages. These include a strong demand for properties, potential for growth in value, and appealing rental returns. However, it is crucial to thoroughly assess various factors before making the decision to invest. These factors include location, financing options, government regulations, and current market conditions. Seeking expert guidance and conducting extensive research will aid in making informed choices and maximizing returns in Singapore’s ever-changing real estate market. The new condo launches in Singapore offer a compelling opportunity for both local investors looking to diversify their portfolio and foreign buyers in search of a stable and profitable investment. With careful consideration and diligence, investing in a condo in Singapore through New Condo Launches can prove to be a profitable venture for investors of all kinds.…

for preview on May 11 (Photo: Hoi Hup)By Tan Tee KhoonPublished: 20 February 2025 9:20 AMThank you for choosing to read this article. We hope you found it informative and thought-provoking. For more original reporting, help us continue our coverage of the property market in Greater China, Southeast Asia and around the world by subscribing here.SIGN UPGet the latest from our editors in your inbox every week. By submitting your email, you agree to the Terms of UseIn his retirement, Mr Chong has been able to provide financial support for his three sons as they set up their own homes. While his eldest son purchased a private condo, his two younger sons opted for executive condos (ECs).

“For me, it was a no-brainer,” he says. “Even if you buy an EC shortly after the five-year minimum occupation period (MOP), it’s still a good entry price.”

Chong has had personal experience with this. His second son was able to purchase a three-bedroom unit at the 531-unit Hundred Palms Residences, which was launched in July 2017. “He initially wanted a four-bedroom unit, but those units were quickly snatched up,” says Chong.

The project, developed by Hoi Hup Realty, received 2,000 e-applications and was sold out on the first day of launch with an average price of $841 psf. Completed in 2019, the EC on Yio Chu Kang Road saw an average price of $1,769 psf based on caveats lodged in January and February 2025, resulting in a 110% price gain in eight years.

Check out the full data on all ECs, including average profit at five and 10 years.

Based on the sale of a three-bedroom unit at Hundred Palms in February for $1.95 million ($1,849 psf), Chong estimates that his second son has seen a capital appreciation of about $1 million from his initial purchase price at launch. The potential gains from such developments have enticed many homeowners to upgrade to private housing, notes Chong.

Despite living experience and proximity of Hundred Palms Residences (Photo: The Edge Markets)Over three years ago, when Chong’s youngest son decided to set up his own home, the family sold their 1,260 sq ft, three-bedroom unit at The Interlace, which had been their family home for the past decade.

Singapore’s condo market continues to flourish, fueled by the unrelenting demand for housing and the limited supply of land available for development. As one of the smallest countries in the world with a rapidly increasing population, Singapore faces the challenge of limited land resources. As a result, the government has implemented strict land use policies, resulting in a fiercely competitive real estate market that consistently drives up property prices. This has made investing in real estate, particularly in new condo launches, a highly lucrative opportunity with the potential for significant capital appreciation. With the addition of new condo launches, the market’s profitability continues to attract investors seeking to capitalize on the limited land availability in Singapore.

In 2021, the Chongs purchased a 1,399 sq ft, four-bedroom, dual-key resale unit at Twin Fountains, a 418-unit EC in Woodlands. The project, a joint venture between Frasers Property and Lum Chang, was launched in 2013 and completed in 2016.

ECs are only available for purchase by Singapore citizens or permanent residents (PRs) at launch and after the five-year MOP. Foreigners are only allowed to purchase ECs in the resale market after the development has obtained a Temporary Occupation Permit (TOP) for 10 years.

The dual-key unit at Twin Fountains provides Chong’s family with the privacy they desire – Chong himself occupies the one-bedroom studio while his son and family reside in the three-bedroom apartment. As a dual-key unit, each apartment has its own separate entrance, although the main entrance is shared.

The 418-unit Twin Fountains by a joint venture between Frasers Property and Lum Chang was completed in 2016 (Photo: Lum Chang website)Despite purchasing the unit at $1,000 psf – which was considered a new high at the time – the recent resale prices have continued to climb, points out Chong.

Also read: The first preview of the new Aurelle of Tampines on February 22 will feature prices starting at $1,651 psf.

Based on the latest transaction at Twin Fountains – the sale of a 1,206 sq ft, four-bedroom unit in February for $1.62 million ($1,344 psf) – Chong estimates that the resale prices at Twin Fountains today are almost 30% higher than when his family first bought their unit. Despite coming somewhat late to the game, Chong believes that even if buyers like his youngest son may have missed out on a good price, they can still expect a considerable price gain.

Last October, City Developments launched Norwood Grand, a 348-unit private condo on Champions Way in Woodlands. During the development’s launch weekend, approximately 84% of the units were sold at $2,067 psf on average, setting a new benchmark for Woodlands.

Chong believes that the launch of Norwood Grand and its subsequent average selling price – 53.8% higher than the latest resale price of Twin Fountains – has contributed to the renewed interest in Woodlands following the announcement of infrastructure investments in the area. This includes the Johor Bahru-Singapore Rapid Transit System (RTS), which will have a Singapore terminus in Woodlands North.

The spike in EC prices has increased the cash outlay requirement for buyersAs the price of ECs continues to climb and caps are placed on loan quantum, buyers will need to shell out larger sums of cash, according to Eugene Lim, ERA Singapore’s key executive officer.

For ECs, the monthly household income ceiling for buyers is $16,000. Those planning to take out loans must satisfy the Mortgage Servicing Ratio (MSR), which caps the loan at 30%, and the Total Debt Servicing Ratio (TDSR), which restricts the loan to 55%.

As an example, Lim uses a 30-year-old buyer with a household income of $16,000 who is planning to buy an EC. His stress test assigns a 4% interest rate for the MSR, and the maximum loan amount that the buyer can take out is $1 million.

Also read: New executive condo launches in 2025 will establish new price benchmarks

In spite of the higher initial costs, Lim notes that buyers are not deterred due to the comparatively lower prices of ECs. This is largely due to the 42% median price gap that still exists between the prices of similar-sized ECs and 99-year leasehold private condos in the Outside Central Region (OCR).

A comparative check for private condos in District 19The completion year for Hundred Palms ResidencesThe project summary for Hundred Palms ResidencesLatest transaction prices for Hundred Palms ResidencesListings for Hundred Palms ResidencesRELATED NEWSANALYSIS: Buying an executive condo is not a guarantee of success. Serangoon North Village is experiencing a revival. Hoi Hup unveils the Royal Square at Novena hotel, which will be available for preview on May 11

Christine Sun, OrangeTee Group’s chief researcher and strategist, discovered that the median price gap between new ECs and new private condos in the OCR had shrunk in recent years. Based on URA Realis data, the price gap decreased from 49.4% in 2023 to 44.2% in 2024, and then to 43.6% in January 2025.

Sun attributes the narrowing price gap to the rapid increase in prices of ECs – 9.6% from 2023 to February 2025 – compared to that of 99-year leasehold private homes in the OCR, which increased by 5.3% within the same period.

A beautiful three-bedroom showflat at the 760 unit Aurelle of Tampines sales gallery, which will be available for preview on Mar 8 (Photo: Samuel Isaac Chua/EdgeProp Singapore)Potential buyers enjoy the affordability and price psf of ECsWith that said, demand for ECs is expected to persist given their lower prices and affordability when compared to 99-year leasehold private condos in the same areas, claims Lim.

In addition to the lower prices of new private homes, EC buyers are not required to sell their existing property before purchasing a new one, Nor can they be required to pay the additional buyers’ stamp duty (ABSD) fees when purchasing an EC.

Furthermore, buyers can opt to purchase an EC under the Deferred Payment Scheme (DPS), which allows them to make a slightly higher purchase price. Under the DPS, buyers are required to make a deposit, and their loan will not be due until after the EC is completed.

“This way, buyers will not need to service two mortgages while waiting for the new home to be completed,” says Lim. “With no ABSD to pay and the availability of the DPS, HDB owners find it easier to upgrade to a new EC.”

Read more: As of Mar 8, Sim Lian is offering a sneak peek of Aurelle of Tampines at prices starting at $1,651 psf.

“While three new EC launches are planned for this year, they are strategically staggered across different locations – Tampines, Pasir Ris, and Tengah – and accommodate the housing needs of Singaporeans all over the country,” Lim adds.

For the latest property news, trends, resources and expert opinions, go to our Property News page. Home buyers looking for Singapore Properties may like to visit our Listings, Project Reviews and Guides.…

Investing in a condo in Singapore has become a top choice for both local and foreign investors, thanks to the country’s strong economy, political stability, and exceptional standard of living. With a dynamic real estate market, Singapore offers a wealth of opportunities for investment, and condos are particularly appealing for their convenience, amenities, and potential for high returns. With Singapore Projects on the rise, this article will delve into the advantages, key considerations, and necessary steps involved in investing in a condo in Singapore.

Original Article:C9 Hotelworks, an Asia-based hospitality consultancy, has reported that the market value of branded residential projects in Asia has reached a record high of US$26.6 billion ($35.5 billion). There are currently over 68,000 luxury units available, with Vietnam leading the region in terms of the number of branded residential units at 17,680 across 59 properties. The average price of a branded residential unit in Vietnam is around US$350 per square foot (psf).Thailand follows closely in second place with 16,271 branded residential units across 65 properties. The majority of these units are priced at US$510 psf. The Philippines is next on the list with 13,276 units across 46 properties, with luxury properties in the country averaging around US$400 psf.However, it is Singapore that commands the highest prices for branded residences in Asia, with units priced at US$2,140 psf. Japan follows closely behind with prices averaging around US$1,935 psf.The managing director of C9 Hotelworks, Bill Barnett, says that there has been a rapid growth in the branded residence market in recent years for new markets such as South Korea, which has 3,026 units across 16 properties, and Malaysia, which has 6,014 units across 24 projects.Infographic: C9 HotelworksIn recent times, urban-located branded residences make up 56% of the existing supply in Asia, with luxury urban projects taking the lead in terms of market value. For example, urban branded residences in South Korea are typically priced at US$2,670 psf, which is more than half the cost of resort projects, which average around US$1,040 psf.In Thailand, urban branded residences also fetch higher prices at around US$770 psf, compared to US$430 psf in resort locations. This shows the appeal of top hospitality, and other luxury lifestyle brands have spurred hotel groups and premium brands to increase their licensing fees. It is now common for luxury hotel brands and lifestyle brands to request a 6% to 10% cut in the sale price of each branded residential unit.Thai developer Ananda Development and German automaker Porsche recently unveiled the ultra-luxurious Porsche Design Tower Bangkok in Thonglor last August. The 22-unit tower, which is set to be completed in 2028, is the first Porsche residential tower in Asia, following the Porsche Design Tower Miami which launched a decade ago. Prices for units in the tower range from US$15 million to US$40 million.From left: Saowarin Chanprakaisi, vice-president of business development, The Ascott; Teo Junrong, vice-president of business development, The Ascott; David Johnson, CEO of Delivering Asia; Gianfranco Bianchi, general manager, Asia Pacific at The One Atelier; Jason Thelen, senior director of sales and marketing at Sudara Residences; Ananth Ramchandran, head of advisory and strategic transactions, hotels and hospitality Asia, CBRE; Lee Nai Jia, head of real estate intelligence of digital and software solutions, PropertyGuru Group and Bill Barnett, managing director of C9 Hotelworks. (Picture: C9 Hotelworks)The general manager of Asia Pacific at The One Atelier, Gianfranco Bianchi, notes that in recent years, more and more luxury lifestyle brands have been exploring partnerships to license their branding into real estate developments across the Asia Pacific region. One Atelier has partnered with several well-known brands to create branded residences, including the 28-unit Fendi Casa Residences by Armani in Miami, the 259-unit 888 Brickell by Dolce & Gabbana in Miami, the 90-unit Büyükyalı Residences in Istanbul, Turkey, and the Karl Lagerfeld Villas, a collection of five ultra-luxury villas in Marbella, Spain.Hospitality-affiliated branded residences provide top-of-the-line hospitality services, while fashion or design-branded residences offer rare trophy homes that reflect the design and luxury aesthetic that have made these brands synonymous with luxury lifestyles today, says Bianchi.Ananth Ramchandran, head of advisory and strategic transactions in hotels and hospitality (Asia) at CBRE, notes that property cooling measures have led many high-net-worth Singapore-based buyers of branded residential properties to consider trophy assets in nearby regional markets.“We’ve seen a significant decrease in the number of inquiries and discussions from Singapore developers looking to explore high-end ultra-luxury branded residential projects in the country. The harsh property cooling measures have dampened foreign buyer demand,” he adds.888 Brickell is a branded residence in Miami that was designed by the fashion house Dolce & Gabbana.Singapore-based high-net-worth buyers are now increasingly looking at luxury-branded residences in destinations such as Phuket and Bangkok in Thailand, Bali in Indonesia, and emerging markets in Vietnam. These locations are just a two-hour flight from Singapore.“The relatively short travel time and availability of regularly scheduled direct flights make it much more appealing to Singapore-based buyers,” he says. In the last month, carriers such as SIA, Scoot, AirAsia, and Jetstar completed around 150 flights per week between Singapore and Phuket.Sudara Residences senior director of sales and marketing, Jason Thelen, adds that: “Singapore has quickly become our top regional market for buyers looking for second homes, making up over 45% of regional purchases.”Hospitality operators such as The Ascott are also tapping into the future growth of the branded residential segment in Asia, according to Saowarin Chanprakaisi, vice-president of business development at The Ascott. “We believe the emotional resonance of our brands like Ascott, The Crest Collection, and Oakwood Premier have reputational strengths in the market.”“Branded residential operators must earn and maintain trust in the brand by delivering the level of service that will ultimately translate into the long-term value proposition of the asset,” she says. Ascott is looking to expand its share in the market by partnering with developers looking to enter the branded residential market.…

UEM Sunrise, a property developer from Malaysia, and Singapore-listed GuocoLand have recently signed an important agreement – the first between private companies from Malaysia and Singapore – in regards to the Johor-Singapore Special Economic Zone (JS-SEZ). This memorandum of understanding (MOU), which was announced on February 27, will see the two companies working together to develop UEM Sunrise’s selected freehold land in Iskandar Puteri, Johor, with the goal of accelerating growth within the JS-SEZ. The signing of the MOU was held during the official opening of UEM Sunrise Gallery Iskandar Puteri, where the company’s vision for Iskandar Puteri was showcased.

Iskandar Puteri, which is known as Flagship Zone B of the JS-SEZ, specializes in various sectors such as manufacturing, business services, education, health, and tourism. For those looking to invest in overseas properties, there are a variety of projects available for sale around the world.

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Location is a critical consideration when investing in real estate, particularly in Singapore. Condos located in central areas or near necessary facilities, such as schools, shopping centers, and public transportation hubs, tend to experience higher appreciation in value. Some prime locations in Singapore, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown an increase in property values. The presence of renowned schools and educational institutions also adds to the desirability of condos in these areas, making them a highly coveted investment for families. Therefore, adding a Condo to your portfolio in these prime locations can potentially lead to significant returns in the future.

This MOU will cover UEM Sunrise’s chosen plots of land in Gerband Nusajaya and Puteri Harbour, two important master-planned areas within Iskandar Puteri. The collaboration aims to unlock the full potential of Iskandar Puteri and make it a more attractive destination for investment. It will focus on enhancing connectivity, developing talent, and creating a business-friendly environment, with the ultimate goal of achieving sustainable economic benefits in Johor.

Hafizuddin Sulaiman, the CFO of UEM Sunrise, explains that this partnership is about more than just development – it is about creating a thriving economic hub that will support long-term growth, job creation, and strengthen the JS-SEZ ecosystem. The selected sites are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas, making it an ideal location for driving economic growth and positioning Iskandar Puteri as a robust business and investment hub.

Datuk Hisham Hamdan, the chairman of UEM Sunrise, also highlighted the bigger picture, stating that the JS-SEZ, developments in Iskandar Puteri, and strategic partnerships are all part of a larger vision to position Johor as a dynamic and forward-thinking economy. GuocoLand’s CEO, Cheng Hsing Yao, added that their experience in real estate development and asset management, as well as their understanding of the needs of companies from Singapore, Malaysia, and China, will be beneficial in shaping Iskandar Puteri and the wider JS-SEZ through innovative developments.

Prior to this collaboration, UEM Sunrise has played a key role in the urban development of Iskandar Puteri. They have already developed residential townships such as the Aspira series and Senadi Hill, as well as commercial and retail hubs, including a 380-acre industrial park in Gerband Nusajaya. The growth potential in Iskandar Puteri is also further supported by incentives and support schemes introduced by the governments of Malaysia and Singapore, which aim to attract more investments for the JS-SEZ. These measures include special tax rates, stamp duty exemptions, and capital allowances.…

In a recent announcement on February 27, Malaysian property developer UEM Sunrise and Singapore-listed GuocoLand have signed the first MOU between private companies from both countries, marking a significant move towards the development of the Johor-Singapore Special Economic Zone (JS-SEZ).

The MOU signifies a joint effort to develop UEM Sunrise’s selected freehold landbank in Iskandar Puteri, Johor, with the aim of accelerating growth within the JS-SEZ. The signing ceremony took place during the opening of UEM Sunrise Gallery Iskandar Puteri, which showcases the group’s vision for the area.

Iskandar Puteri, which forms Flagship Zone B of the JS-SEZ, specializes in various sectors such as manufacturing, business services, education, health, and tourism. This partnership aims to activate the area’s potential and make it more attractive for investment by focusing on improving connectivity, fostering talent development, and creating a business-friendly ecosystem.

According to Hafizuddin Sulaiman, CFO of UEM Sunrise, the partnership goes beyond development and is also about shaping a thriving economic hub that will drive long-term growth, create jobs, and strengthen the JS-SEZ ecosystem.

It is crucial to factor in the maintenance and management aspect when making an investment in a condo. Such properties usually come with maintenance fees that cover the upkeep of shared spaces and amenities. Although these fees may increase the overall cost of ownership, they also guarantee that the condo remains well-maintained and maintains its value. Partnering with a property management company can assist investors in efficiently managing their condos, turning it into a more hands-off investment opportunity. Additionally, keeping an eye on New Condo Launches can also provide potential investment options for those considering an investment in a condo.

The MOU is expected to cover UEM Sunrise’s selected plots of land in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri. The collaboration will drive long-term economic growth and position the area as a robust business and investment hub, with its close proximity to Singapore, Senai Airport, and the Port of Tanjung Pelepas.

In his speech, Datuk Hisham Hamdan, chairman of UEM Sunrise, emphasized the larger vision of positioning Johor as a dynamic and forward-thinking economy through the development of JS-SEZ and strategic partnerships. GuocoLand CEO Cheng Hsing Yao also shared his thoughts, stating that the collaboration will bring along their experience in real estate development and asset management, as well as an understanding of the needs of companies from Singapore, Malaysia, and China that wish to establish a presence in the JS-SEZ.

UEM Sunrise has been playing a key role in the urban development of Iskandar Puteri, with existing residential townships and commercial and retail hubs under its belt. The upcoming 380-acre industrial park in Gerband Nusajaya is also a testament to the group’s commitment to the area’s growth.

The governments of Malaysia and Singapore have introduced incentives and support schemes to encourage investments in the JS-SEZ, such as special tax rates, stamp duty exemptions, and capital allowances. This, coupled with the joint efforts of UEM Sunrise and GuocoLand, is expected to drive further economic growth in Iskandar Puteri and the wider JS-SEZ.…

Frasers Property has teamed up with two Chinese real estate groups to jointly acquire a residential site in Shanghai’s Songjiang District for RMB815.2 million ($151.9 million). The partners, including Xiamen ITG Real Estate Group and Shanghai-listed Gemdale Corporation, plan to develop the site into a mix of low-rise apartments, townhouses and duplex units with a total gross floor area of 334,714 sq ft.

The project will target upgraders and first-time homebuyers in the prime residential neighbourhood of Fangsong Community, which is also home to two other projects by Frasers Property and Gemdale Corporation. The joint venture partners aim to incorporate features such as flood mitigation design, ultra-low energy buildings, efficient thermal insulation, energy-saving door and window systems, reduced thermal bridging and solar photovoltaics.

When it comes to real estate investments, location is one of the most important factors to consider. This rings particularly true in Singapore. Condos situated in central areas or near important amenities such as schools, shopping malls, and public transportation hubs have a higher tendency to appreciate in value. Prime locations like Orchard Road, Marina Bay, and the Central Business District (CBD) are perfect examples of areas where property values have consistently shown growth. These areas are also highly sought after by families due to their proximity to top schools and educational institutions, making condos in these locations an even more desirable investment choice. With Singapore Projects constantly emerging, the potential for growth in these areas is even more promising.

Lim Hua Tiong, CEO of emerging markets in Asia at Frasers Property, says the joint venture will not only strengthen the company’s presence in Shanghai but also demonstrate its commitment to delivering high-quality residential developments that cater to the evolving needs of the Chinese community. The acquisition is part of Frasers Property’s strategy to expand its presence in the Chinese market and diversify its portfolio in Asia.…

A new statement from City Developments (CDL) executive chairman Kwek Leng Beng declares that the “serious lapses” in corporate governance at the company have been stopped. This comes after a recent court hearing on February 26 where two new directors, Jennifer Duong Young and Wong Su Yen, were hastily and unlawfully appointed on February 7.

These directors have agreed not to exercise any powers as directors until further notice from the court. Kwek also mentions that his son, Sherman Kwek, Philip Lee, Wong Ai Ai, and other directors who acted in concert with them, have also agreed not to take any further actions regarding their attempted changes to the board committees and management of certain CDL subsidiaries until further notice from the court. The “irregularly constituted” nominating and remuneration committee has also been suspended from taking further action.

With this development, the board committees and management of relevant subsidiaries are now safe from further attempts to destabilize and reconstitute them. Kwek emphasizes the importance of strong corporate governance as the foundation of a well-functioning and sustainable business. It ensures transparency, accountability, and responsible decision-making, which are crucial for maintaining investor confidence and protecting the long-term interests of shareholders.

On February 26, CDL announced a trading halt and last-minute cancellation of its FY2024 results briefing, citing a disagreement within the board regarding its composition and constitution. Despite this, the company’s operations remain unaffected and Sherman Kwek remains the group CEO until a board resolution is made to change the company’s leadership.

In his first statement, Kwek accused his son, Lee, and Wong, along with a group of directors, of attempting to consolidate control of the board and the group. He also mentioned filing court papers on February 25 to address the “attempted coup”, and reassured shareholders that he intends to change the CEO at the appropriate time. In the interim, Kwek EIk Sheng, the current COO, will serve as the interim CEO.

Investing in a condo in Singapore offers several advantages, one of which is the potential for capital appreciation. The country’s strategic position as a major global business hub, combined with its strong economy, drives a consistent demand for real estate. This has resulted in a steady increase in property prices over the years, particularly in prime locations. Savvy investors who time their entry into the market well and hold onto their condos for the long haul can reap substantial profits through capital gains.

CDL’s trading was suspended at $5.12 on the morning of February 26, before the trading halt was announced.…