Month: February 2025

According to the latest quarterly research report by Huttons Asia, the shophouse market has remained relatively quiet in 2024 with only 84 recorded transactions. This number is lower than the average of 200 yearly transactions between 1995 and 2023.

Although many buyers did not lodge a caveat, making it difficult to accurately estimate the exact number of shophouse deals in 2024, Senior Director of Data Analytics at Huttons Asia, Lee Sze Teck, believes that the figure is likely the lowest since 1998.

The total value of the 84 caveated transactions in 2024 was $683.6 million, a decrease of 38.9% from the previous year’s deal value of $1.1 billion. However, Lee notes that there were a number of significant deals for properties on Amoy Street, Neil Road, North Bridge Road, and Telok Ayer Street that were not caveated, possibly worth more than $200 million.

The largest shophouse deal in 2024 was the divestment of The Rail Mall by Paragon REIT for $78.5 million in June. This is believed to be the biggest shophouse deal in history, surpassing the previous record of $74.8 million for a row of shophouses on Jalan Sultan in March 2022.

The Rail Mall shophouses were valued at $62 million in December 2023, indicating a gain of approximately $16.5 million for the seller. However, most shophouse transactions in 2024 were for smaller quantums, with over half of the caveated deals falling in the range of $5 million to $15 million.

District 8 saw the most shophouse transactions in 2024, making up almost half of the total. Lee attributes this to its attractive location on the city fringe and relatively lower prices compared to Districts 1 and 2.

In the meantime, shophouse rents across the island have continued to decline for the second quarter in a row, with a 2.6% drop from the previous quarter to $6.47 psf per month in 4Q2024. However, for the entire year, shophouse rents saw a 1.7% increase.

Conservation shophouses on Telok Ayer Street are currently on the market for $42 million, indicating that despite the muted market in 2024, shophouses continue to be a sought-after investment.

When it comes to investing in real estate, one of the critical factors that must be carefully considered is the location. This is especially true in Singapore, where the right location can have a significant impact on the appreciation of a property. Singapore Condos located in prime areas or near important amenities like schools, shopping malls, and public transportation hubs tend to have a higher value appreciation. Throughout the years, 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 demand for Singapore Condos in these areas is also driven by their close proximity to reputable schools and educational institutions, making them highly desirable for families. With these desirable features, it is no surprise that Singapore Condos are considered a top choice for property investment in the country.…

CBRE’s Singapore Market Outlook 2025 report, released on January 23, suggests that the real estate market could see divergent outcomes in the next 12 months due to the uncertain macroeconomic outlook.

While easing inflation and interest rates may provide some relief, the slowing economic growth in 2025 could potentially harm property demand, according to Moray Armstrong, managing director and advisory services at CBRE.

The Ministry of Trade and Industry predicts Singapore’s GDP to grow between 1% and 3% in 2025, lower than the 4% growth in 2024. This could be affected by various factors such as ongoing geopolitical tensions, a new US administration with a nationalistic economic agenda, and the URA Master Plan 2025, which is expected to be released in the middle of the year.

Despite these uncertainties, there are still opportunities in the real estate market for those who can capitalize on emerging trends, as noted by Armstrong. Tricia Song, CBRE’s head of research for Singapore and Southeast Asia, also remains optimistic, citing limited new supply and stable demand as key factors that continue to bolster the property market.

The report also predicts a surge in developer sales volume in the last quarter, which rebounded from record lows in the first nine months of 2024. Prices have also risen, leading to speculations of cooling measures being introduced. However, CBRE believes this is unlikely unless prices rise rapidly in the coming quarters.

Developers are expected to launch new projects, potentially reaching 12,000 to 14,000 units this year, almost double the 6,647 units launched in 2024. This could lead to 7,000 to 8,000 units being sold in 2025, and a 3% to 6% price growth, surpassing the 3.9% growth in 2024. Rental rates are also expected to grow by 1% to 3% this year.

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Owning a condo can offer more benefits than simply providing a comfortable living space. One significant advantage is the potential to leverage its value for future investments. This means that individuals can use their condo as collateral to secure funding for new investments, giving them the opportunity to expand their real estate portfolio. While this approach can result in increased profits, it is essential to proceed with caution and have a sound financial plan in place, as market fluctuations can present risks. With Format Dynamics, incorporating a condo into your investment portfolio can be a strategic and wise decision. Condos can be a valuable addition to your financial plan and provide potential for growth and success.

The office market saw a slower growth in 2024, with just a 0.4% rental growth, compared to the 1.7% growth in 2023. Economic uncertainties, high fit-out costs, and hybrid work arrangements were cited as the main factors. With economic growth expected to slow in 2025, CBRE predicts the office leasing momentum will remain muted.

On the other hand, a limited supply of new office space is expected in the next three years, which could keep vacancy rates low. This could support a rental growth of about 2% in 2025, in line with GDP projections.

Similarly, the report predicts limited supply to support retail rents, with an expected drop in new retail space this year. Leasing sentiment for retail properties remains positive, and as such, the firm predicts a 2% to 3% growth in prime retail rents, recovering to pre-pandemic levels.

As for the industrial sector, the report suggests that expansion demand was subdued in 2024 due to cost pressures and supply chain disruptions. Rents for prime logistics properties remained flat at $1.87 psf per month. In 2025, a surge in supply is expected, with almost 5 million sq ft of new warehouse space being completed. However, at least 60% of this space has been pre-committed, which could alleviate downward pressure on occupancy rates. CBRE predicts prime logistics rents will remain stable in 2025.

The report also forecasts a 10% year-on-year growth in investment volume in 2025, with the industrial and logistics sector remaining the most preferred among investors. However, CBRE also anticipates investors to be selective amid economic and geopolitical uncertainties, opting to invest in specific sectors or strategies with more favorable prospects.…

The cityscape of Singapore is characterized by towering skyscrapers and state-of-the-art facilities. Condos, often situated in sought-after locations, offer a perfect fusion of opulence and practicality that caters to the needs of both locals and foreigners. These modern residences boast a plethora of conveniences, including access to swimming pools, fitness centers, and round-the-clock security services, elevating the standard of living and making them an alluring option for potential renters and buyers. For investors, these amenities equate to higher rental returns and appreciating property values in the Condo market over time.

First, let’s address the most profitable resale transaction over the period of Jan 14 to 28 – the sale of a three-bedroom unit at Palm Spring. Located on Ewe Boon Road in prime District 10, Palm Spring is a freehold condominium with a total of 167 units. The sale of this particular unit on the fourth floor fetched a whopping $4.4 million ($2,336 psf) on Jan 20, according to lodged caveats. This was a significant increase compared to its purchase price of $1.21 million ($642 psf) in August 2005. In fact, the seller enjoyed a profit of $3.19 million (264%) on the sale, which translates to an annualised profit of 6.8% over nearly 20 years. This sale also marks the most profitable resale transaction to date at Palm Spring, surpassing the previous record profit of $2.56 million (185%) achieved when a unit on the first floor was sold for $3.94 million ($2,000 psf) in April 2023. The previous owners had purchased the unit for $1.38 million ($701 psf) in January 2003, illustrating the steady increase in property prices at Palm Spring over the past 20 years.According to data compiled by EdgeProp Singapore, the average transacted price at Palm Spring has consistently risen over the past two decades. In January 2021, the average price was around $2,342 psf, a considerable increase from $1,439 psf in January 2015. In fact, the average price was only $973 psf back in January 2005, highlighting the development’s value appreciation over the years. Notably, two units were sold at Palm Spring last year, further solidifying its status as a highly sought-after condominium. A 947 sq ft unit changed hands for $2.19 million ($2,312 psf) in September, bringing in a profit of $990,000 from its previous purchase. In October, a larger 1,496 sq ft unit was sold for $3.36 million ($2,246 psf), resulting in a profit of $2.24 million for the seller.This premium residential development boasts a prime location near Stevens MRT Interchange on the Downtown (DTL) and Thomson-East Coast Lines, as well as Newton MRT Interchange on the North-South Line and DTL, making it highly accessible for residents.In comparison, last month’s second most profitable resale transaction was the sale of a four-bedroom unit at Orchard Bel Air, which generated a profit of $3 million (182%) when it changed hands on Jan 15. The 3,229 sq ft unit on the 12th floor was sold for $4.65 million ($1,440 psf), significantly higher than its purchase price of $1.65 million ($511 psf) in May 2001. Based on these figures, the annualised profit over nearly 24 years was 4.5%. It is worth noting that this sale also holds the record for the highest profit at Orchard Bel Air. The previous record was set in January 2013 when a 6,512 sq ft penthouse unit on the 25th floor was sold for $8.3 million ($1,275 psf), raking in a profit of $4.47 million for the seller, who had initially purchased the unit for $3.83 million ($588 psf) in March 2006.Orchard Bel Air is a 99-year leasehold condominium on Orchard Boulevard, located in the prestigious prime District 10. Completed in 1984, it stands at 28 years old with approximately 54 years left on its land tenure. As the only other 99-year leasehold condominium in the vicinity, Cuscaden Reserve, was only completed in 2023, Orchard Bel Air holds its own in terms of resale prices. According to transaction data, the average price at Cuscaden Reserve stands at around $3,043 psf, making Orchard Bel Air a more affordable option for buyers seeking properties in the area. Interestingly, the condo is situated next to a government land sale (GLS) site awarded to a joint venture between UOL and SingLand in February last year. The bid of $428.28 million works out to a land rate of $1,617 psf per plot ratio.Moving on to the most unprofitable transaction during the review period, the sale of a 1,625 sq ft unit on the 58th floor of Marina Bay Suites stands out for incurring a loss of $1.15 million (27%) when it changed hands on Jan 24. Sold for $3.1 million ($1,907 psf), the unit was previously purchased for $4.25 million ($2,614 psf) in May 2012. This translated to an annualised loss of 27% over close to 13 years. This sale is the latest in a string of unprofitable transactions at Marina Bay Suites, which has seen 14 consecutive loss-making deals in the past nine months. During this period, losses ranged from $40,000 to $2.5 million.Marina Bay Suites is situated within Marina Bay Financial Centre, a luxurious mixed-use development consisting of six towers located at Central Boulevard and Marina Boulevard. Completed in 2023, the 99-year leasehold condo has 221 units and comprises a 66-storey residential tower offering three- and four-bedroom units. According to a tabulation of caveats by EdgeProp Singapore, the average selling price at Marina Bay Suites has declined from $2,502 psf in January 2015 to $1,921 psf as of January this year. In contrast, other nearby condominiums on 99-year leases, such as The Sail @ Marina Bay, Marina Bay Residences, Marina One, and V on Shenton, command higher resale prices with average prices of $2,047 psf, $2,242 psf, $2,103 psf, and $2,027 psf respectively.…

A 1,281 sq ft three-bedroom unit at Watertown, part of the Waterway Point integrated development in Punggol, will be up for auction on Feb 26 by SRI. This mortgagee sale has a guide price of $2.4 million, which translates to a price per square foot (psf) of $1,874. The same unit had previously appeared at SRI’s January auction with the same guide price, but only received one bid. It was eventually withdrawn as the bid was below the reserve price.

Located on the 13th floor, this unit has a combined living and dining area, along with an open-concept kitchen, utility room and toilet, and a south-facing balcony overlooking the condo’s 20 swimming pools. There is also an ensuite master bedroom, two additional bedrooms, and a common bathroom.

According to URA caveats, the property was previously purchased from the developer for $2.3 million in October 2013, which works out to about $1,281 psf. In total, Watertown has only seen one transaction this year – a two-bedroom unit that sold for $1.7 million ($1,775psf) in January. In 2020, the condo had 41 resale transactions at an average price of $1,700 psf.

Larger units in the development tend to see stronger demand and can fetch higher prices. According to Eric Liew, manager of auctions and sales at SRI, of the 41 resale transactions at Watertown in 2020, 10 involved larger units with three or more bedrooms. These sold for an average of $1,854 psf, which is about 9% higher than the overall average for the condo.

Most of the interest in Watertown comes from HDB upgraders and those looking for a bargain, says Liew. The development is also popular with those planning to use the unit as a primary residence due to its proximity to Punggol MRT Station.

Watertown is a 992-unit condo with 11 residential towers, sitting on top of the six-storey Waterway Point shopping mall. It has one- to two-bedroom units ranging from 533 to 1,003 sq ft, and three- and four-bedroom units from 821 to 1,582 sq ft.

The Waterway Point mall is integrated with Punggol MRT Station, which connects to the North East Line and Punggol LRT Station. It was jointly developed by Far East Organisation, Frasers Centrepoint, and Sekisui House and was completed in 2017.

Singapore’s cityscape is dominated by towering skyscrapers and state-of-the-art infrastructure. One of the main features of this landscape is the abundance of condos, strategically located in highly sought-after areas, offering a perfect fusion of opulence and convenience that is appealing to both local residents and expats. These condos are equipped with top-of-the-line facilities including swimming pools, fitness centers, and 24-hour security services, all of which contribute to a higher standard of living and make them a desirable choice for potential tenants and buyers. For investors, these amenities translate into lucrative rental yields and steady growth in property values over time. With the inclusion of Singapore Condo, the urban landscape of Singapore truly represents a perfect blend of modernity, luxury, and functionality.

Several primary schools can be found in the area, such as Edgefield Primary School, Oasis Primary School, Punggol Green Primary School, Compassvale Primary School, and Punggol Cove Primary School.…

The government has recently announced the extension of the Central Business District Incentive (CBDI) and Strategic Development Incentive (SDI) schemes for another five years. These schemes were initially introduced in November 2019 and the latest decision was revealed by Desmond Lee, the Minister of National Development (MND) during the Real Estate Developers’ Association of Singapore (Redas) annual Spring Festival lunch on Feb 7.

Under the CBDI scheme, the government aims to encourage the conversion of older office buildings in certain areas of the Central Business District (CBD) into mixed-use developments. These areas include Tanjong Pagar, Robinson Road, and Shenton Way. The scheme is designed to inject more homes, increase the population living in the CBD, and introduce a more diverse mix of activities in the traditionally commercial-centric district.

On the other hand, the SDI was introduced to encourage the redevelopment of older developments in strategic areas to drive transformative changes in the surrounding urban environments. These strategic areas include Orchard Road, the Central Business District, and Marina Centre.

According to the Urban Redevelopment Authority (URA), 14 out of 17 CBDI proposals and seven out of 12 SDI proposals submitted to the government have received in-principle approval. Currently, four CBDI projects are under construction in the Anson-Tanjong Pagar area. These include Newport Plaza, a mixed-use development on 80 Anson Road that comprises of 246 residential units and 198 serviced apartment units. The Skywaters Residences, located at 8 Shenton Way, also includes 190 luxury residential units as part of its mixed-use development. Other CBD projects include two commercial developments on 15 Hoe Chiang Road and 51 Anson Road.

However, the five-year extension of the CBDI and SDI schemes will come with some refinements, according to Minister Lee. The CBDI scheme will be expanded to include commercial developments in Anson and Cecil, giving developers and property owners in these areas the option to retain their commercial zoning (with 40% non-commercial use) if the redevelopment includes long-stay serviced apartment units.

Under the revised scheme, CBDI applicants seeking to redevelop in Anson and Cecil will have to provide at least 200 residential units or set aside their entire non-commercial floor area for long-stay serviced apartments, whichever is lower. Previously, office buildings redeveloped under the CBDI were allowed to retain their existing commercial zoning if 40% of the new floor area was allocated for non-commercial use.

Marcus Chu, CEO of ERA Singapore, says that these incentives, by facilitating the continual renewal of aging buildings in the city centre and incorporating more residential units, aim to transform the CBD into a vibrant place to work, live, and play.

In addition, the updated CBDI and SDI schemes will include new sustainability requirements. Going forward, all new applications for these schemes must include a sustainability statement that assesses the feasibility of retrofitting part or all of the existing building. Minister Lee explains that while the government supports revitalisation and rejuvenation through redevelopment, wasteful demolition and excessive rebuilding will not be tolerated, especially for relatively young or well-maintained buildings.

Choosing the right location is crucial when investing in real estate, especially in Singapore, where the location can significantly influence the value of a condo. In fact, certain areas, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently demonstrated an increase in property values, making them prime locations for potential investments. Moreover, the presence of reputable schools and educational institutions nearby also adds to the appeal of these condos, making them highly desired by families and further boosting their investment potential. Therefore, carefully considering the location is crucial when looking to invest in a condo in Singapore.

He also adds that several projects currently being redeveloped under the CBDI or SDI schemes are already surpassing the required sustainability standards. For example, Union Square, a mixed-use development on Havelock Road, is incorporating a district cooling system.

You can find the latest listings for properties in Skywaters Residences and ask for the latest transaction prices and available units in upcoming new launch projects. You can also check out the project summary for Skywaters Residences to see the total number of units, as well as current and upcoming new launch projects, condo sale transactions in District 1, and recently completed projects.…

On February 6th, Perennial Holdings and Far East Organization announced the launch of Aurea, a luxurious apartment tower as part of the Golden Mile Singapore mixed-use development on Beach Road. Developed by DP Architects, Aurea boasts 188 units across 45 storeys, occupying a site area of 144,908 sq ft. The tower will also feature a link bridge connecting it to the neighbouring commercial building, The Golden Mile, which offers a mix of retail space, medical suites and offices.

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It is crucial to carefully consider the maintenance and management aspects when investing in a condo. Along with the purchase price, buyers should also factor in the maintenance fees that cover the upkeep of shared spaces and amenities. These fees may increase the overall cost of owning a condo, but they also guarantee that the property remains well-maintained and retains its value. To make condo ownership a more passive investment, investors can enlist the services of a property management company. Additionally, incorporating information on upcoming New Condo Launches can also aid in making an informed decision.

Formerly known as Golden Mile Complex, The Golden Mile has been conserved for its architectural heritage and marked the first collective sale and conservation of a building. It was purchased en bloc by Perennial Holdings and Far East Organization for $700 million in May 2022.

Situated in prime District 7 of the Downtown Core and part of the Core Central Region (CCR), Aurea and The Golden Mile are expected to attract discerning individuals and families who appreciate an exclusive address in the heart of the city. Shaw Lay See, COO of Far East Organization’s sales & leasing group, anticipates strong interest from potential buyers.

The preview for Aurea, which is by appointment only, is set to begin on February 22nd, with the official launch scheduled for March 8th. Prices for the apartments start from $2,750 psf. For example, two-bedroom units spanning 646 sq ft are priced starting from $1.92 million ($2,972 psf).

Aurea offers a variety of unit types to cater to different lifestyles. There are 112 two- and three-bedroom apartments ranging from 635 sq ft to 1,001 sq ft, 56 four-bedroom units from 1,442 sq ft to 1,798 sq ft, and 18 five-bedroom units from 2,863 sq ft to 3,251 sq ft. In addition, there are two exquisite penthouses – a six-bedroom duplex spanning 5,608 sq ft and a six-bedroom triplex spread over 8,816 sq ft. Larger four-bedroom units and penthouses will feature private lift access, and the triplex penthouse will also have a private pool. These units are designed to cater to the affluent lifestyles of CCR homebuyers, according to Marcus Chu, CEO of ERA Singapore.

However, the majority of the apartments in Aurea are two- and three-bedroom units, making up 60% of the total. These units are expected to appeal to both homebuyers and investors, says Chu.

Residents of Aurea will have access to a host of facilities, including two infinity pools on levels three and 33, a gymnasium, a bouldering wall, spa facilities, an indoor lounge and multiple dining pavilions for hosting guests. The sky terraces on levels 17 and 33 offer stunning views of the CBD skyline, Marina Bay, and the Kallang waterfront.

Ken Low, Managing Partner of SRI, states that today’s homebuyers are looking for more than just a great location – they want a home that enhances their daily lives. Aurea ticks all the boxes, with its convenient location, well-thought-out design, and inspiring facilities and spaces.

In December 2024, the 156 strata office units and 19 medical suites at The Golden Mile were launched for sale. The joint venture partners, Perennial and Far East, plan to retain ownership of the revamped two-storey retail atrium to curate the tenant mix. Ismail Gafoor, CEO of PropNex, believes that the iconic status of the former Golden Mile Complex and the potential of its commercial space, especially office space, will attract buyers.

He adds that buyers nowadays prioritize quality projects near an MRT station and convenient access to essential amenities. The Golden Mile Singapore is just 1km from the Kallang Alive Precinct, Bras Basah-Bugis district, and a 10-minute drive from the CBD. Additionally, it also has easy access to major roadways such as Nicoll Highway, East Coast Parkway (ECP), and Kallang-Paya Lebar Expressway (KPE).

The last launch in the Beach Road neighbourhood of District 7 was the 558-unit Midtown Modern in 2021, which has been fully sold at an average price of about $2,825 psf and is expected to obtain TOP this year. The neighbouring 522-unit, The M, was launched in 2020 and is also fully sold at an average price of $2,528 psf, with completion in March 2024. Another project, Midtown Bay at Guoco Midtown, has 63% of its 219 units sold as of February 5th, at an average price of $3,090 psf.

Given Aurea’s prime location, upscale residences, and The Golden Mile’s Singapore architectural heritage, Gafoor estimates that the apartment units’ prices could cross $3,000 psf. He believes that there may be pent-up demand for new homes in the area, considering the success of past launches in the district. Therefore, he expects Aurea to garner significant interest from potential homebuyers and investors.

Aurea is set to be completed in the second quarter of 2029. Interested buyers can check out the latest listings for Aurea properties and other new launches. Ask Buddy for more information or to compare transaction prices and available units. For a comprehensive overview of the property market, take a look at the price trends of HDB, Condo, and Landed properties. You can also find out about recent condo sale transactions in District 7 and see project summaries for Aurea. If you are looking for a rental property in the area, browse through the available condo rental listings in District 7 on our website.…

Perennial Holdings and Far East Organization have announced the development of Aurea, a new luxury apartment complex located at Golden Mile Singapore on Beach Road. The project, which is part of the mixed-use development, will feature 188 units spread across a 45-storey residential tower. Designed by DP Architects, the tower occupies a site area of 144,908 sq ft and is slated to be completed in 2Q2029.

Aurea will be connected to the neighboring The Golden Mile – a commercial building featuring a mix of retail space, medical suites, and offices – via a link bridge. The Golden Mile, formerly known as Golden Mile Complex, has been conserved for its architectural heritage, making it the first collective sale and conservation of a building. The joint venture partners, Perennial Holdings and Far East Organization, had acquired the building en bloc for $700 million in May 2022.

Located in the prime District 7 of the Downtown Core and the Core Central Region, the project is expected to attract strong interest from discerning individuals and families who appreciate a prime Downtown Core address. Far East Organization’s chief operating officer, Shaw Lay See, highlights this as a key factor in the project’s potential success.

The preview for the appointment-only preview of Aurea is set to begin on Feb 22, followed by the launch on Mar 8. The apartments will have a starting price of $2,750 psf, with two-bedroom units measuring 646 sq ft starting from $1.92 million ($2,972 psf).

Aurea will offer a variety of unit types, including two- and three-bedroom units ranging from 635 sq ft to 1,001 sq ft (112 units), four-bedroom units from 1,442 sq ft to 1,798 sq ft (56 units), and five-bedroom units from 2,863 sq ft to 3,251 sq ft (18 units). The development will also include two exclusive penthouses: a six-bedroom duplex spanning 5,608 sq ft and a six-bedroom triplex spanning 8,816 sq ft. The larger four-bedroom and penthouse units will feature private lift access, with the triplex penthouse also coming with a private pool. The luxurious options are expected to complement the lifestyles of affluent homebuyers in the Core Central Region, according to Marcus Chu, CEO of ERA Singapore.

In December 2024, Perennial Holdings and Far East Organization launched 156 strata office units and 19 medical suites for sale at The Golden Mile. The joint venture partners plan to retain ownership of the revamped two-storey retail atrium to curate the tenant mix. The project’s potential for commercial space, especially office space, may also attract buyers, notes PropNex CEO Ismail Gafoor. He adds that today’s buyers prioritize quality projects in close proximity to an MRT station and convenient access to essential amenities. The Golden Mile is connected to the Nicoll Highway MRT station on the Circle Line via an existing overhead bridge.

Apart from the convenient location and easy access to major roadways like Nicoll Highway, East Coast Parkway (ECP), and Kallang-Paya Lebar Expressway (KPE), Golden Mile Singapore is also situated 1km from the Kallang Alive Precinct, the Bras Basah-Bugis district, and a 10-minute drive from the CBD.

The last launch in the Beach Road neighborhood of District 7 was the 558-unit Midtown Modern in 2021. All units at Midtown Modern have been sold as of Dec 2024, with an average price of about $2,825 psf. The project is scheduled for TOP sometime this year. The M, a neighboring 522-unit project, was launched in 2020 and is also 100% sold at an average price of $2,528 psf. Completed in March 2024, Midtown Modern precedes The M development.

The 219-unit Midtown Bay at Guoco Midtown was completed last year, with about 63% of the units sold since its debut in 2019 at an average price of $3,090 psf.

Given Aurea’s location, upscale residences, and Singapore’s architectural heritage at the Golden Mile, PropNex’s CEO Gafoor estimates that apartment unit prices could exceed $3,000 psf. He predicts that Aurea will attract healthy interest among prospective homebuyers and investors, given the pent-up demand for new homes in the area.

The project is expected to be completed in 2Q2029, offering a variety of luxurious facilities for residents, including two infinity pools on levels three and 33, a gymnasium, a bouldering wall, and spa facilities. There will also be an indoor lounge and multiple dining pavilions for hosting guests. Moreover, sky terraces on levels 17 and 33 are expected to provide panoramic views of the CBD skyline, Marina Bay, and the Kallang waterfront.

The demand for condominiums in Singapore continues to thrive due to the limited availability of land in this densely populated country. As the population continues to grow, Singapore faces the difficult challenge of finding suitable land for development. To address this issue, strict regulations have been put in place to manage land usage, creating a fiercely competitive real estate market. As a result, the prices of condominiums have steadily increased, making them a highly sought-after investment opportunity with the potential for significant value appreciation.

Ken Low, managing partner at SRI, notes that today’s homebuyers seek more than just a great location; they want a home that enhances their daily lives and is easy to get around. Besides, they also look for thoughtfully designed facilities and spaces that inspire, all of which the Aurea project offers, according to Low.…

Singapore, a bustling metropolis, is renowned for its cosmopolitan ambience, contemporary architecture and advanced facilities. The city boasts of soaring skyscrapers and state-of-the-art amenities, making it a highly coveted destination. Condominiums, situated in prime locations, offer a perfect blend of opulence and convenience, making them a sought-after choice for both locals and foreigners. These residential complexes are equipped with a plethora of lavish facilities, including swimming pools, fitness centers and top-notch security services, enhancing the living standards of its residents. As a result, they are an attractive option for potential renters and buyers. Furthermore, these condominium properties also provide a promising return on investment for investors, with the added advantage of property values appreciating in the long run. It is safe to say that investing in a condo in Singapore is a wise and valuable decision that offers numerous benefits.

MCL Land and CSC Land Group are getting ready to launch a new residential development, Elta, in Clementi with a total of 501 units. The public can get a sneak peek of the property from Feb 7, with official sales starting on Feb 22.

Covering a land area of approximately 144,788 sq ft, this 99-year leasehold development is situated along Clementi Avenue 1 and boasts of two 39-storey residential buildings. The units in this condo range from cozy one-bedroom-plus-study units to spacious five-bedroom units, with sizes ranging from 506 sq ft to 1,776 sq ft. As per the joint developers, Elta will adhere to URA’s harmonisation guidelines.

For those interested, here’s what you need to know about available units and prices for ELTA. The indicative prices start from $1.158 million ($2,289 psf) for one-bedroom-plus-study units, $1.388 million ($2,261 psf) for two-bedroom units, and $2.198 million ($2,374 psf) for three-bedroom units, while four and five-bedroom units are priced from $2.798 million ($2,363 psf) and $3.888 million ($$2,189 psf) respectively.

The preview showflat for the residential development, located at Prince Charles Crescent, will showcase three unit layouts: a two-bedroom-plus-study unit that can be converted into a compact three-bedroom, a four-bedroom dual-key unit, and a five-bedroom unit designed for multi-generational living.

Elta’s location also offers the convenience of being within walking distance to Clementi MRT Station on the East-West Line, as well as being close to various dining and shopping options like The Clementi Mall, 321 Clementi, and Grantral Mall. Families with school-going children will also appreciate the proximity to reputable educational institutions such as Clementi Primary School, Pei Tong Primary School, Nan Hua Primary and High School, Anglo-Chinese School (Independent), and NUS High School of Math and Science.

Lee Tong Voon, CEO of MCL Land, shares that Elta is designed to provide an elevated living experience, with its tall towers strategically positioned to offer breathtaking views of the city, Pandan Reservoir, and the sea. Qian Liang Zhong, chairman of China Construction (South Pacific) Development Co (CCDC), the parent company of CSC Land Group, adds that Clementi is a popular and dynamic town that combines traditional shops with modern amenities, making it an ideal community to live in.

Expected to receive its temporary occupation permit in 2028, Elta will come equipped with 50 facilities spread over five zones, including a 50-metre lap pool, gymnasium, tennis court, and gardening corner. So, mark your calendars for the preview on Feb 7 and the official launch on Feb 22, and don’t miss your chance to own a piece of this highly sought-after residential development.…

Reuben

Knight Frank Singapore, the exclusive marketing agent, is currently holding an expression of interest for a high-quality warehouse and factory located at Gul Circle. This property is available for sale for a guide price of $42 million.

The building comprises of a five-storey single-user factory and warehouse, with an additional mezzanine of four floors. With a total gross floor area of approximately 245,955 square feet, the property sits on a sizable site of 105,648 square feet. It is currently a JTC leasehold with a remaining tenure of 15 years and 11 months, as of Feb 1. The site is zoned as a Business 2 site under the URA Master Plan 2019.

When it comes to investing in a condo, securing financing is a crucial consideration. In Singapore, there are various mortgage choices available, but it is vital to have an understanding of the Total Debt Servicing Ratio (TDSR) framework. This framework sets a cap on the amount of loan a borrower can take based on their income and current debt commitments. Being knowledgeable about the TDSR and seeking guidance from financial advisors or mortgage brokers can assist investors in making well-informed decisions about their financing options and avoiding excessive borrowing. Additionally, visiting Singapore Projects can also provide helpful information for investors looking to finance their condo investment.

According to Knight Frank Singapore, the property is designed to cater to modern industrial needs, with features such as high ceilings for storage and operations, as well as cold rooms and heavy floor loading capabilities to accommodate various industries. In addition, the property boasts of nine 40-footer loading and unloading bays with dock levelers, as well as four cargo and service elevators.

Conveniently located near major expressways such as Ayer Rajah Expressway (AYE) and Pan-Island Expressway (PIE), as well as Joo Koon MRT station, the property boasts of excellent accessibility and connectivity.

Interested parties can submit their bids for the expression of interest exercise until March 18 at 3pm.…

When contemplating an investment in a condo, it is essential to evaluate its potential rental yield. Rental yield refers to the annual rental income as a percentage of the purchase price of the property. In Singapore, condo rental yields can significantly differ based on factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those close to business hubs or educational institutions, offer more attractive rental yields. It is crucial to conduct comprehensive market research and seek guidance from real estate agents to gain valuable insights into the rental potential of a specific condo property. When you invest in a condo, understanding its rental yield can greatly impact your investment decision.

The latest research report by Colliers predicts that there will be a moderation in industrial property prices and rents in Singapore this year as supply increases and demand weakens. According to the report, both annual rental and price growth are expected to slow down and range between 0% to 2%, compared to the 3.5% growth achieved in 2024.

Colliers attributes this muted outlook to data from JTC which indicates a market that is “losing steam”. The 4Q2024 data shows that the JTC All Industrial rental index has been growing for the 17th consecutive quarter, rising by 0.5% quarter-on-quarter and achieving a total growth of 3.5% in the whole year. However, this is significantly lower than the 8.9% rental growth seen in 2023. Similarly, the price index grew by 0.5% in 4Q2024, a decrease from the 1.2% growth recorded in the previous quarter. In 2024, industrial property prices rose by 2.1%, which is less than half of the 5.1% increase seen in 2023.

The report also notes that there is expected to be a surge in the supply of industrial space this year, with more than 2.5 times the amount of supply from last year being released. However, this is expected to taper off from 2026 onwards. The increase in supply, combined with cautious occupiers due to high interest rates and operating expenses, are expected to dampen rental growth.

The uncertain global markets resulting from heightened trade protectionism could also impact business confidence and investment decisions, further contributing to the weakening demand for industrial properties.

On a positive note, Colliers predicts that there will continue to be demand in the semiconductor, logistics, and advanced manufacturing sectors. As policies become clearer and market sentiments improve, the firm expects industrial leasing activities to gradually increase. This can also be attributed to the ongoing upturn in the chip cycle.

However, with the predicted moderation in rents and the increase in supply, this could be a good year for tenants as they have more options available in the market. The report also mentions that new industrial developments with modern specifications could encourage businesses to relocate from older manufacturing spaces to newer projects. Nicolas Menville, executive director and head of Singapore-based industrial clients for Colliers, also supports this view, saying that the increased supply of modern industrial spaces may attract businesses to relocate.

Overall, the report suggests that there may be a downward trend in industrial property prices and rents in Singapore this year, but there will still be some demand in certain sectors.…