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HDB to Offer Over 25,000 New Flats in 2025

The Singaporean government’s property cooling measures are a crucial factor to consider when investing in condos in the country. Through the years, the government has implemented several measures to control speculative buying and maintain a steady real estate market. These measures include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on both foreign buyers and those purchasing multiple properties. While these measures may have a temporary impact on the profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a secure investment environment.

The Housing and Development Board (HDB) will launch more than 25,000 new flats in 2025, Minister for National Development Desmond Lee announced in a joint press release by HDB and the Ministry of National Development (MND) on Jan 16.

The new flats will be a mix of Build-to-Order (BTO) and Sale of Balance (SBF) flats, with a total of around 19,600 BTO flats across three sales exercises and more than 5,500 SBF flats in one SBF sale exercise. These units will fall under the new Standard, Plus and Prime BTO flat classification framework.

In the upcoming February BTO launch, approximately 5,000 flats will be offered in Kallang/Whampoa, Queenstown, Woodlands, and Yishun.

The HDB will also conduct its largest-ever Sale of Balance Flats (SBF) exercise next month, with more than 5,500 flats offered across various estates. Around 40% of these flats are already completed, while the rest are expected to be finished between 2025 and 2028.

In total, more than 10,000 new flats will be made available under the February BTO and SBF exercises.

In the past four years, from 2021 to 2024, HDB has launched around 82,700 BTO flats. With a planned pipeline of 19,600 BTO flats in 2025, HDB is on track to launch over 102,300 BTO flats, surpassing its commitment of 100,000 units over five years.

The increase in BTO supply has resulted in a drop in application rates. In 2024, the average application rate among first-time homebuyers for BTO flats of all types was 2.1, compared to 3.7 in 2019 before the pandemic. The average rate for three-room and larger BTO units last year was 2.2, down from 4.0 in 2019.

Minister Lee has assured that HDB will continue to release a steady pipeline of flats in the next few years to meet housing demand. Over 50,000 flats are expected to be launched between 2025 and 2027, bringing the total to around 130,000 flats from 2021 to 2027.

Approximately 3,800 of the 19,600 new flats, or one-fifth of the BTO flats in 2025, will be Shorter Waiting Time (SWT) flats with a waiting time of less than three years. This is an increase from the 2,876 SWT flats offered in 2024 and more than the committed annual supply of 2,000 to 3,000 SWT flats.

According to Lee Sze Teck, Senior Director of Data Analytics at Huttons Asia, the SWT flats will provide more options for buyers and potentially attract demand away from the resale market.

In 2025, around 7,000 HDB flats will reach their five-year Minimum Occupation Period (MOP), the lowest supply of such resale flats since 2015. “With HDB promising more BTO and SBF flats to meet demand, this will offer more choices for buyers and stabilise the resale market,” says Lee. “The larger flat supply and SWT flats will address the shortage of MOP flats.”

Huttons’ Lee estimates that HDB resale flat transactions in 2025 will range from 26,000 to 28,000, lower than the 28,876 units recorded in 2024. Resale flat prices are expected to grow at a slower pace of 5% to 8% this year, compared to the 9.6% increase reflected in HDB’s flash estimate for 2024.…

Investing in a condominium (condo) in Singapore presents a plethora of benefits, making it a wise choice for investors. The country’s high demand for condos, coupled with the potential for significant capital appreciation, makes it an attractive option. Additionally, the rental yields are also appealing to investors. However, it is crucial to take into account various factors such as location, financing, government regulations, and market conditions before making an investment decision. Therefore, conducting extensive research and consulting with experts can aid in making informed choices and maximizing returns in the dynamic real estate market of Singapore. Whether you are a local investor aiming to diversify your portfolio or a foreign buyer seeking a secure and profitable investment, condos in Singapore present an enticing opportunity that should not be overlooked. To explore more options, check out Singapore Projects for a comprehensive list of available properties in the country.

The most profitable resale transaction in the first week of January 2025 in Singapore was the sale of a three-bedroom penthouse at Orchid Mansion on Amber Road. The transaction resulted in a profit of $2.58 million (112%) and was the most profitable resale transaction during the period of Dec 31, 2024, to Jan 7, 2025. The unit, which is situated on the 21st floor of the 20-year-old freehold development, was sold for $4.88 million ($1,717 psf) on Dec 31. This marks an increase from its previous purchase price of $2.3 million ($809 psf) in March 2009. With an annualized profit of 4.9% over the span of nearly 16 years, it is also the most profitable resale transaction to date at Orchid Mansion.This sale has broken the previous record held at the development, when a three-bedroom unit on the seventh floor was sold for $2.73 million ($1,812 psf) in July 2022, resulting in a profit of $1.15 million (72.6%). The unit was bought for $1.58 million ($1,050 psf) back in June 2007.Orchid Mansion, situated at 11 Amber Road in District 15, is a 21-story residential tower that offers a mix of two- and three-bedroom units ranging from 1,346 sq ft to 2,002 sq ft. There are also two penthouses, each measuring 2,842 sq ft and 2,734 sq ft respectively. This development, which is 20 years old, boasts a prime location and is popular among buyers due to its freehold tenure.In the same period, the second most profitable resale transaction took place at Villa Marina on Jan 3. A three-bedroom unit on the ground floor, measuring 1,625 sq ft, was sold for $2.35 million ($1,446 psf). The seller had previously purchased the unit for $630,500 ($388 psf) back in September 2006. This translates to a profit of $1.72 million (273%), or an annualized profit of 7.6% over the span of 18 years. This sale has also overtaken the previous profitable record held at Villa Marina, when a unit on the fourth floor measuring 1,916 sq ft was sold for $1.58 million (219%) in July 2024. This had previously fetched $720,416 ($376 psf) back in November 1998.Villa Marina, situated at Jalan Sempadan in District 15, is a 99-year leasehold development that was completed in 1999. This development consists of 27 low-rise residential blocks housing a total of 432 units, with a mix of one- to four-bedroom units ranging from 1,087 sq ft to 2,314 sq ft. The development is close to the Masjid Kampong Siglap mosque and is conveniently located near Siglap MRT station and East Coast Park. Families with young children will also appreciate that the development is surrounded by top primary schools within a 1km radius.On the other hand, the most unprofitable resale transaction of the week was the sale of a two-bedroom unit on the 17th floor of Marina Bay Residences on Jan 2. The 1,130 sq ft unit was sold at $2.1 million ($1,858 psf), resulting in a loss of $386,000 (16%) for the seller. This marks an increase from the purchase price of $2.49 million ($2,200 psf) back in November 2007. With an annualized loss of 1% over 17 years, this transaction is the most unprofitable resale at Marina Bay Residences last week.Marina Bay Residences saw 25 resale transactions in 2024, with 13 unprofitable transactions that resulted in losses ranging from $1.25 million to $43,600. This development, which is situated at Marina Boulevard in the Marina Bay area, has a total of 428 units and was completed in 2024. Last year, the average resale price at the development was $2,242 psf, which is higher than that at surrounding condos such as The Sail @ Marina Bay ($2,052 psf), Marina Bay Suites ($1,917 psf) and Marina One Residences ($2,133 psf).Marina Bay Residences is one of two 99-year leasehold luxury condos in Marina Bay Financial Centre (MBFC), which also comprises of three Grade-A office towers and Marina Bay Suites. The development recently underwent a $5 million revamp from Jan 2022 to Sept 2023, which saw upgrades made to all resident facilities and common spaces.…

City Developments Limited (CDL) reported that it had divested assets worth over $600 million last year, in line with its strategy to recycle capital. The company has also indicated that it has several more divestments in the pipeline.

However, this amount falls short of the $1 billion target set by CDL in early 2024, as the volume of deals across various markets and asset classes decreased significantly. Among the completed divestments are the Ransome’s Wharf site in London, the freehold 8-storey industrial building Cideco Industrial Complex in Singapore, and various strata units at Citilink Warehouse Complex, Cititech Industrial Building, Fortune Centre, and Sunshine Plaza in Singapore.

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CDL, Frasers Property, and Sekisui House have launched The Orie, a new development in Toa Payoh with prices starting from $1.28 million (Photo: CDL)

Investing in condos comes with a multitude of benefits, and one of the main advantages is the opportunity to leverage the property’s value for further investments. Numerous investors utilize their condos as collateral to secure additional financing for new investments, allowing them to expand their real estate portfolio. This approach can significantly increase returns, but it also comes with inherent risks. Therefore, having a solid financial plan in place and carefully considering the potential impact of market fluctuations is essential for successful condo investment. With the right strategy and condo investments, the possibilities for growth and expansion in the real estate market are endless.

Another divestment in progress is the retail and office components of Hong Leong City Centre (HLCC), a mixed-use development in Suzhou, which is expected to be completed this quarter. According to CDL’s CEO Sherman Kwek, the company is focused on accelerating its capital recycling plans despite challenging market conditions. He also stated that CDL aims to optimize its capital management and align its portfolio with its strategic objectives in order to maximize shareholder value.

In addition to the divestments, CDL, Frasers Property, and Sekisui House have launched a new development in Toa Payoh called The Orie, with prices starting from $1.28 million. Furthermore, Hong Leong City Centre, a mixed-use development in Suzhou, is currently under contract and scheduled for completion this quarter.

Despite these divestments, CDL’s shares closed at $5.05 on Jan 16, a 0.2% decrease for the day and a 20.97% decrease over the past year. Ask Buddy, a property comparison website, has reported that there are currently several condo rental listings in District 7. Additionally, there has been a decrease in condo rental transactions in District 7 in comparison to HDB and landed properties. Furthermore, there are a few condo projects in District 7 with unprofitable transactions, indicating a potential opportunity for investment.…

A spacious two-storey bungalow located at 11 Whitley Road is currently available for sale through tender at a competitive guide price of $31.88 million. Situated on a freehold elevated land parcel of 15,276.27 sq ft, the guide price works out to be $2,087 psf on the land area.

Having undergone a complete renovation in 2016, the bungalow now boasts a rear extension and offers five bedrooms, three of which are en suite. The house also features two living rooms, two dining rooms, a generously-sized kitchen equipped with modern appliances, and a helper’s room.

According to Aric Lim, associate district director of Huttons Asia – the exclusive marketing agent for the property – the land parcel is eligible for subdivision, making it ideal for redevelopment into eight terraced houses. Each site would have a land area ranging from 1,614 sq ft to 2,389 sq ft, with a potential gross floor area (GFA) of up to 21,528 sq ft, subject to land betterment charges.

Lee Sze Teck, senior director of data analytics at Huttons Asia, notes that this is possibly the largest plot of land available along Whitley Road. He also points out that the asking price of $2,087 psf for the land is very attractive compared to recent transactions of new semi-detached houses in the area, which have fetched prices of over $3,000 psf.

Investing in a condo in Singapore has numerous advantages, one of which is its potential for capital appreciation. Singapore’s advantageous location as a global business hub, along with its robust economic foundation, leads to a constant demand for real estate. Over time, property prices in Singapore have continuously risen, particularly for condos in prime locations. By investing at an opportune time and holding onto the property for a substantial period, investors can reap significant capital gains. In fact, with the new condo launches happening, this provides an even greater opportunity for potential capital appreciation.

The property enjoys a convenient location, being only 700m from Novena MRT Station and close to popular shopping destinations such as Velocity at Novena Square, Square 2, United Square, and Zhongshan Park.

Interested parties can submit their tender for 11 Whitley Road by Feb 12.…

GuocoLand secures two green facilities from DBS Bank and Oversea-Chinese Banking Corporation

GuocoLand has recently secured two green facilities, worth a total of $1.24 billion, from DBS Bank and Oversea-Chinese Banking Corporation. This includes a $1.135 billion green facility for refinancing Guoco Midtown and a $105 million green facility for refinancing Midtown Bay.

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Investing in a Singapore condo comes with several advantages, one of which is the potential for capital appreciation. The country’s strategic location as a thriving business hub, combined with its strong economic fundamentals, creates a continuous demand for real estate. Over the years, property prices in Singapore have consistently risen, particularly in prime locations where condos are highly sought after. Savvy investors who time their purchases well and hold onto their properties for the long haul can reap substantial capital gains from their Singapore condo investments.

The company, which is known for its sustainable developments, has stated that this $1.135 billion green facility is its largest to date. These green facilities have been raised under GuocoLand’s Green Finance Framework. To date, the company has secured about $5 billion of green financing, which includes green facilities for other developments such as Guoco Tower, Lentor Mansion, Lentor Modern, Midtown Modern, and the upcoming Upper Thomson Road Development.

According to Group CFO of GuocoLand, Andrew Chew, the company’s latest refinancing activity allows them to optimize their capital structure while staying true to their commitment to creating thoughtfully designed spaces that balance economic, environmental, and social factors.

Shares in GuocoLand remained steady at $1.45 on Jan 15.…

Katong’s Roxy Square, a freehold mixed-use development, is set to be relaunched for collective sale, announced marketing agent JLL. The development, which comprises 296 shops, 26 apartments, and the 576-room Grand Mercure Roxy Hotel, was previously launched for tender last July with a minimum price of $1.25 billion. However, the tender closed on Sept 26 without any successful bids.

In response to the lack of bids, owners of the development are in the process of signing a supplemental agreement to lower the collective sale price by 10.8% to $1.115 billion. This proposed reduction in price would require at least 80% support from the owners. Currently, more than 70% of owners are in favour of the lower price.

Investing in real estate is a strategic decision, and its success greatly depends on the location of the property. This is especially true in Singapore, where the value of a condo can be greatly influenced by its location. Ideally, investing in a condo in a central area or in close proximity to essential amenities, such as schools, shopping malls, and public transportation hubs, can yield higher returns. Popular areas like Orchard Road, Marina Bay, and the Central Business District (CBD) are considered prime locations, as they have consistently shown growth in property values. In addition, condos located near top-rated schools and educational institutions are highly sought after by families, making them even more attractive for investment. For those looking to invest in the best Singapore Condo, considering its location is crucial.

Under the revised price, the development is expected to have a unit land rate of $1,852 psf per plot ratio (ppr), which includes a Land Betterment Charge (LBC) at the gross plot ratio of about 3.86. With an additional 10% bonus gross floor area (GFA) for the residential component and the LBC factored in, the land rate would be $1,804 psf ppr, according to JLL.

According to Tan Hong Boon, JLL Singapore’s executive director of capital markets, the private residential market in Katong has shown strong underlying support. Recent launches in the area, such as Meyer Blue and Emerald of Katong, have achieved impressive sales, boosting developers’ confidence in Roxy Square’s potential. He also noted that the development’s location next to Marine Parade MRT Station (Thomson-East Coast Line) with a direct underground connection adds to its appeal.

Built in 1996, Roxy Square has a gross floor area (GFA) of 668,000 sq ft and is partially zoned for commercial and residential use under the 2019 Master Plan, with a gross plot ratio of 3.0 along East Coast Road. The part of the development facing Marine Parade Road is zoned for hotel use.

According to recent planning advice from URA, the entire site can be rezoned for commercial and residential use, and redeveloped into a high-rise mixed-use development with a height of up to 75m. JLL estimates that this could potentially yield over 350 residential units, approximately 80,000 sq ft of retail and F&B space, and an additional 172,000 sq ft for office, hotel, or other commercial uses. The development also offers accessibility to East Coast Parkway (ECP) and Nicoll Highway and is part of the Round-Island Route and Park Connector Network.

Tan added that the proposed reduction in reserve price, if supported by the majority of owners, will further enhance the site’s appeal, given the consistent demand for quality residences in the area. He believes that this sale has the potential to shape a key part of East Coast for the future.

Interested buyers can submit their bids for Roxy Square by Feb 18 at 3pm. Property seekers can check out the latest listings for Roxy Square properties on Ask Buddy. For more information and statistics on the property market, they can also compare the price trends of new sale condos versus resale condos, and new sale condos versus executive condominiums. Additionally, they can also look at the landed transactions with the highest profits and the most unprofitable landed transactions in the past year, as well as the condo projects with the most expensive average PSF.…

In terms of investing in Singapore, it is crucial to carefully consider the rules and limitations surrounding property ownership, especially for non-residents. The regulations for purchasing landed properties in Singapore are much stricter compared to acquiring a condo, which has fewer restrictions. However, non-resident investors must take note of the Additional Buyer’s Stamp Duty (ABSD) of 20%, which applies to their initial property purchase. Despite this added cost, the Singapore real estate market provides a stable and reliable investment opportunity, particularly in the condo market. This makes investing in condos in Singapore a highly desirable option for international investors, given its potential for growth and stability. As a result, Singapore has become a highly sought-after destination for foreign investors, with condos being a favored investment choice in the country.

The Arcady at Boon Keng, a 172-unit freehold condominium, is set to become a prominent landmark in the heart of Boon Keng upon its completion in 2027. This modern development aims to create a lush green space along Serangoon Road, featuring contemporary architecture that will set it apart from other condominiums in the neighborhood.

Collaborating on the project are trusted local developers KSH Holdings, SLB Development, and H10 Holdings, along with award-winning architectural firm Park + Associates. Together, they aim to craft a distinguished residence that stands out from the rest.

Since its launch for sale in January, The Arcady at Boon Keng has garnered positive responses from both investors and local buyers. The thoughtfully designed layout of the one-bedroom plus study units and the two-bedroom units has resonated with many, while families have been drawn to the spacious units and the variety of family-friendly amenities offered.

This development presents a rare opportunity for discerning buyers to invest in an affordable freehold property in a city-fringe location. It stands out as one of only a handful of new freehold projects launching this year.

Creating an Urban Oasis
The Arcady at Boon Keng has been designed to blend seamlessly with its surroundings, featuring a bold architectural form and a curated landscape design. This deliberate effort by the developers and designers aims to create an urban oasis, a peaceful and luxurious haven amidst the bustling city fringe.

The architects at Park + Associates and landscape architect Ecoplan Asia have crafted a multi-layered design, with a trail leading from the Grand Arrival to the ground floor landscape deck. This unique approach allows for a dense green space, while combining three floors worth of facilities into a ‘one-stop’ zone located on just two floors at the base of the tower. This efficient use of space can also be seen in other areas, such as the 14th floor and the rooftop terrace.

A Range of Family-Friendly Amenities
At The Arcady at Boon Keng, residents can enjoy an array of amenities catering to different lifestyle needs. The Social Deck, Kids Playground, and Family Deck are perfect for families with children, while the Sky Terrace, Party Deck, and Kids Club offer endless fun and entertainment for the little ones. Parents can relax at the Chill Out Lounge or the Botanic Club, and host guests at the Arcady Club on the 14th floor, which offers a private dining experience and stunning views. The Gourmet Vista on the 14th floor also provides a 360-degree panoramic view of the surrounding skyline, making it the perfect spot for entertaining guests.

Spectacular Scenery and a Family-Oriented Layout
The Arcady at Boon Keng has been thoughtfully designed to provide residents with optimal views and a comfortable living experience. The tower and unit orientation ensure a north-south facing, elevated approximately 18m above street level to maximize the scenic views. Additionally, the units are tilted away from the main road to minimize traffic noise.

Higher floors offer stunning views of the Kallang River, while south-facing units enjoy a view towards Marina Bay. The efficient layout of each unit includes spacious master bedrooms that can accommodate a king-sized bed and common bedrooms that can fit a queen-sized bed. The project offers a range of unit types, including three-bedroom units, three-bedroom-plus-study units, and four-bedroom units, as well as two penthouses. Families with school-going children will appreciate the project’s proximity to several schools, including Bendemeer Primary School, Bendemeer Secondary School, St Andrew’s Junior School, and Hong Wen School.

Attractive Pricing for an Ideal Location
Since its launch in January, The Arcady at Boon Keng has seen steady sales, with all the one-bedroom plus study units and close to 90% of the two-bedroom units sold. With an average selling price of around $2,570 psf, this freehold property offers a competitive pricing advantage compared to other new 99-year leasehold projects in the Rest of Central Region (RCR) area. This, coupled with its central location and convenient access to major expressways such as the CTE and PIE, makes The Arcady at Boon Keng an attractive investment for buyers and investors.

Future Potential for Capital Appreciation
The Arcady at Boon Keng is poised to benefit from the rejuvenation of the Kallang precinct, with the upcoming Kallang Alive Masterplan set to transform the area into Singapore’s future sports hub. This masterplan, announced during Prime Minister Lawrence Wong’s National Day Rally this year, aims to bring together several key sporting associations and the Singapore Sports School into one integrated precinct. With easy access to the city and a short commute to the central business district, The Arcady at Boon Keng is well-positioned for future growth and potential for capital appreciation.

In conclusion, The Arcady at Boon Keng is a rare gem offering an ideal blend of a central location, affordable pricing, and a freehold tenure, making it an excellent investment choice for buyers looking for a well-established neighborhood in the city fringe. With limited new home launches in the area, this project presents an opportunity not to be missed. Interested buyers can contact the developers’ appointed marketing agencies or visit their website for more information.…

Lucky Plaza, located at Orchard Road, is a mixed-use development comprising a residential tower and a six-storey mall with a basement. Now, a portfolio of freehold strata retail units in this prime location is available for sale at a total of $52.6 million, with Savills Singapore as its marketing agent.

When deciding to invest in a condo in Singapore, it is important to consider the government’s measures aimed at cooling the property market. Over the years, the government has implemented various policies to regulate speculative buying and maintain a stable real estate market. These policies include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may impact the immediate profitability of condo investments, they are crucial in ensuring the long-term stability of the market and creating a secure investment environment.

The portfolio for sale includes 14 retail units spread across the basement and the first two levels of the mall. These units vary in size from 118 to 3,046 sq ft, making up a total of 7,266 sq ft of strata area. Savills Singapore highlights a “standout feature” of the offering – a food court spanning over seven adjoining strata units, accommodating 11 stalls and totalling 3,046 sq ft.

The remaining retail units are currently tenanted by a diverse mix of businesses, including a pub, retail shops, beauty service providers, and a maid agency. According to Sophia Lim, director of investment sales and capital markets at Savills Singapore, the prime location of Lucky Plaza and its high foot traffic make these retail units an attractive long-term investment.

Lim highlights the consistent crowds that the basement food court attracts daily, making it a highly profitable investment opportunity. The guide price for the food court is set at $25.43 million, while the entire portfolio of 14 retail units is available at an asking price of $52.6 million.

Individual strata retail units within the portfolio are priced from $1.1 million onwards. Both foreigners and companies are eligible to purchase, and no additional buyer’s or seller’s stamp duty will be imposed. Lim also highlights the scarcity value of prime strata freehold retail assets. She adds that URA’s regulations prohibiting further subdivision of commercial properties along Orchard Road make these assets highly sought-after among investors.

Lim expects the planned revitalisation of the Orchard precinct by URA to provide further upside for Lucky Plaza in terms of rental growth and capital appreciation. For potential investors, this presents not only a lucrative opportunity but also a chance to be part of the planned rejuvenation of one of Singapore’s most iconic shopping districts.…

The bidding for the Government Land Sale (GLS) site at Tengah Gardens Avenue closed on January 14 with three bids. A consortium led by Hong Leong, which includes GuocoLand Singapore and CSC Land Group, submitted the highest bid of $675 million, which translates to $821 per square foot per plot ratio (psf ppr).

The site, which has a 99-year lease and covers an area of approximately 273,906 square feet, is zoned for “Residential with Commercial at 1st storey” and has a maximum gross floor area (GFA) of 821,720 square feet. According to URA, it has the potential to yield up to 860 residential units.

If awarded, the Hong Leong-led consortium plans to build an 860-unit condo, taking advantage of the upcoming Jurong Region Line (JRL) nearby which will enhance connectivity. This will contribute to the development of the new Tengah estate, as stated by Loke Kee Yeu, general manager (Projects) at Hong Leong Holdings Limited.

The Tengah Gardens Avenue site is strategically located near the upcoming Hong Kah MRT Station on the JRL, making it one stop away from the upcoming Tengah Town Centre and providing a direct route to the second CBD at Jurong Lake District.

The top bid of $821 psf ppr for the Tengah Gardens Avenue site is only 0.73% higher than the second bidder’s bid of $815 psf ppr, submitted by Chinese developer Kingsford Group. Local developer Sim Lian Group submitted the third and final bid of $812 psf ppr. This close bid price spread of less than 1% indicates that developers are being conservative in their bids, even with the increase in homebuyer activity at the end of 2024, according to Leonard Tay, head of research at Knight Frank Singapore.

Another GLS site at Dairy Farm Walk also closed on January 14 and received two bids. Tay also mentioned that developers may have focused on existing sites that are preparing for launch in 2025. This could be a reason why the number of bids for GLS tenders has been around three.

Mark Yip, CEO of Huttons Asia, believes that developers are keeping their land bids reasonable in order to maintain an attractive selling quantum for buyers. He expects more developers to submit joint bids for GLS sites this year to diversify risk. This could also be a reason why the number of bids for GLS tenders has been around three.

Marcus Chu, CEO of ERA, says that another reason for the low number of bids could be the current availability of GLS sites. With seven sites still open for tender and six more to be launched in the first half of 2025, developers are taking a cautious approach and considering their options amid moderated interest rates.

Investing in real estate in Singapore heavily relies on the location of the property. This is especially evident as condos situated in central areas or near important amenities such as schools, shopping malls, and public transportation hubs hold a higher potential for appreciation in value. Some of the most sought-after areas for property investment in Singapore include Orchard Road, Marina Bay, and the Central Business District (CBD), where properties have continuously shown strong growth in value. Moreover, condos located near reputable schools and educational institutions make them even more desirable for families, making them a solid investment option. Furthermore, with the addition of New Condo Launches, the potential for growth in these prime locations only continues to increase.

The interest in the Tengah Gardens Avenue site may also have been affected by the availability of another nearby GLS site, according to Justin Quek, CEO of OrangeTee & Tie. Developers may be considering bidding on a different GLS site along Lakeside Drive and Lakeside MRT, which is scheduled for tender in April 2025.

If awarded, the Tengah Gardens Avenue site will be the first private residential site (excluding Executive Condominium) in the Tengah HDB township. The first EC project in Tengah, Copen Grand, was launched for sale in 2022 and sold out within a month. The joint developers, City Developments Ltd (CDL) and MCL Land, secured the EC site with a winning bid of $400.32 million, or $603 psf ppr, in May 2021.

ERA’s Chu believes that the opportunity to launch the first private condo in the new Tengah estate may have attracted the Hong Leong-led consortium, as they have also made forays into other sites such as Lentor, Upper Thomson, and Bugis. The CEO of PropNex, Ismail Gafoor, states that the site’s proximity to the future Anglo-Chinese School (Primary), which will become a co-ed school in 2030, could be very attractive to families with school-aged children. PropNex estimates that if the site is awarded at the top bid of $821 psf ppr, the average selling price of the new private condo could be around $2,000 psf.…

Singapore’s property market is buzzing with the latest offering – a freehold 15 loft-room hotel at 739-1 Geylang Road in the prime District 14. Priced at $14 million, this 2-storey property stands out with its newly constructed 4-storey rear extension and occupies a 1,273 sq ft site with an approved gross floor area (GFA) of 3,186 sq ft.

One of the key highlights of this hotel is its permanent ‘Hotel’ zoning and usage approval, a rare and highly coveted designation for new conservation shophouses in Singapore. This not only adds to the property’s investment appeal, but also provides flexibility in operations. Its strategic location, just a 5-minute walk from Paya Lebar MRT station, further adds to its allure. Paya Lebar MRT is a dual-line station, connected to both the East-West and Circle lines, making it easy for guests to travel to different parts of Singapore.

Designed with a sophisticated Japandi theme, the hotel is currently under construction and expected to receive its Temporary Occupation Permit (TOP) in Q2 2025. The sale price includes all construction and renovation costs, making it a turnkey investment opportunity. Investors looking to enter or expand their presence in the hospitality sector will find this property a lucrative option.

For investors, the current owner, an experienced hotel operator, is open to a sale and leaseback arrangement. This allows for immediate rental income and operational continuity. According to Eva Lau, Senior Marketing Director of ERA Realty Network Pte. Ltd., owner operators will have the added advantage of major renovations, enabling them to start operations seamlessly.

When purchasing a condo, it’s crucial to also take into account the maintenance and management aspects of the property. This is because condos usually come with maintenance fees that are used for the upkeep of common areas and amenities. Although these fees may increase the overall cost of owning a condo, they also play a significant role in preserving the property’s quality and value. An effective solution for investors is to enlist the services of a property management company, which can handle the regular tasks associated with managing a condo, making it a more hands-off investment. For more information, please visit Singapore Projects.

The demand for hospitality assets in Singapore has been on the rise in the past year, with notable transactions including LHN Group’s acquisition of Pasir Panjang Inn for $30 million. Last year, an 8-storey hotel at 12 Lorong 12 Geylang was also listed for sale at $120 million, and Hotel JJH, a 25-room property at 747 North Bridge Road, is currently on the market for $38 million. These transactions reflect the strong demand for well-located, high-quality hospitality assets, which are considered as one of the most desirable commercial shophouse usage classes in Singapore.

For more information, interested buyers can contact Eva Lau at 92785688, Senior Marketing Director of ERA Realty Network Pte. Ltd.…