Condo Format Dynamics

The demand for Singapore Condo is constantly on the rise, and this can be attributed to the limited land availability in the small island nation. With a rapidly growing population, Singapore faces challenges in finding enough land for development. As a result, strict land use policies are in place, leading to a competitive real estate market with rising property prices. This trend makes investing in real estate, especially Singapore Condo, a highly profitable opportunity with the potential for significant capital appreciation.

Ardmore Park unit nets a $3.05 million profitThe most profitable condo resale deal in the week of Nov 19 to 26 was the sale of a four-bedroom unit measuring 2,885 sq ft at Ardmore Park. The 14th-floor unit was sold for $11.25 million ($3,900 psf) on Nov 22. The seller had bought the unit in September 2016 for $8.2 million ($2,843 psf), making a profit of $3.05 million or 37% over a holding period of about eight years.This deal followed the sale of another 2,885 sq ft, four-bedroom unit on the 23rd floor for $12.7 million ($4,402 psf) on Oct 1. The seller had purchased the unit in September 2010 for $9.7 million ($3,363 psf), making a profit of $3 million or 30.9%.The 2,885 sq ft unit at Ardmore Park changed hands for $11.25 million ($3,900 psf) on Nov 22 (Picture: Samuel Isaac Chua/)Ardmore Park is a luxurious freehold condo with 330 units located in the prime Ardmore Park area in District 10. Consisting of three 30-storey towers, the typical units at the development are 2,885 sq ft, four-bedroom apartments, and it also boasts six 8,740 sq ft duplex penthouses. In this year alone, there have been four other profitable resale transactions at the development, with prices ranging from $4,108 psf to $4,472 psf. The sellers of these units made a profit of between $2.65 million and $7.07 million. Freehold three-bedder in Bukit Timah sold at $2,144 psf for over $2 million profitAdvertisementThe second most profitable condo resale deal in the week was the sale of a four-bedroom apartment at Goldenhill Park Condominium. The unit, measuring 1,539 sq ft and located on the 16th floor, was sold for $3.43 million ($2,228 psf) on Nov 21. The seller, who bought the unit from the developer in May 2001 for $1.14 million ($741 psf), made a profit of $2.29 million or 201% over 23 and a half years.This is the second-highest profit recorded at Goldenhill Park Condominium so far, with the record belonging to a 2,928 sq ft, four-bedroom penthouse that was sold for $4.3 million ($1,469 psf) in February 2022. The seller of this unit had bought it from the developer in April 2001 for $2 million ($683 psf) and made a profit of $2.3 million. A 1,539 sq ft unit at Goldenhill Park Condominium sold for $3.43 million ($2,228 psf) on Nov 21, making a gain of $2.29 million (Picture: Samuel Isaac Chua/)Located in District 20, Goldenhill Park Condominium is a 390-unit freehold development completed in 2004. Units at the development range from two to four bedrooms and come with sizes from 926 sq ft to 2,928 sq ft. The condo is conveniently located near Lorong Chuan MRT Station on the Circle Line. In 2021, there have been five other prosperous resale transactions at the condo, with sellers making profits between $760,000 and $1.91 million on units sold for between $2,082 psf and $2,246 psf.Meanwhile, the least profitable condo resale transaction in the week occurred at The Oceanfront @ Sentosa Cove. The sale of a four-bedroom unit measuring 2,831 sq ft on the 10th floor for $4.7 million ($1,660 psf) resulted in a loss of $1.1 million for the seller. The seller had purchased the unit in May 2007 for $5.8 million ($2,050 psf) and held it for 17 and a half years.AdvertisementThe Oceanfront @ Sentosa Cove is a 99-year leasehold condo found in the prestigious Sentosa Cove residential estate. Featuring 264 units housed within five towers, the waterfront condo offers two- to four-bedroom apartments ranging from 1,216 sq ft to 4,284 sq ft, as well as penthouses of between 2,745 sq ft and 8,095 sq ft. To date, there have been six other resale transactions at the development, with prices ranging from $1,500 psf to $1,999 psf. Of these transactions, two were profitable with sellers pocketing $268,000 and $1.7 million while four resulted in losses ranging from $30,000 to $519,000. Take a look at the latest listings for a CondominiumAsk BuddyCompare the price trend of Condo new sale vs EC new saleThe least profitable condo transactions in the past yearCondo projects with the most unprofitable transactionsLanded transactions with the highest profits in the past yearRecently launched projectsCompare price trend of Condo new sale vs EC new saleMost unprofitable condo transactions in past 1 yearCondo projects with most unprofitable transactionsLanded transactions with the highest profits in the past yearRecently launched projectsRELATED NEWSPenthouse at Veranda sold for $1.67 mil profitThree-bedroom unit at Spanish Village sold for $2.7 mil profitFour-bedder at Ardmore Park sold for $6.5 mil profit…

Habyt, a leading co-living operator, has recently launched a new accommodation space at 5 Kadayanallur Street in Tanjong Pagar. The 18-room Kada at Maxwell is the flagship space for the company’s latest venture, Habyt Flex, which aims to broaden its product offerings from long-term co-living to short-term living options.

In August, Habyt Asia Pacific CEO Jonathan Wong announced the company’s plans to include more short-term options in its portfolio. The first properties under the Habyt Flex concept are the 39-room Habyt Novena and the 27-room Habyt Kallang, both launched in August. Other properties under the Habyt Flex concept include Habyt Cantonment and Owen House by Habyt.

Foreign investors considering investing in Singapore’s real estate market must be well-informed about the rules and limitations in place. When it comes to owning land, the regulations are more stringent than for owning condominiums. However, foreigners are still allowed to purchase condos, albeit with certain restrictions. It’s important for them to be aware that an Additional Buyer’s Stamp Duty (ABSD) of 20% will apply to their initial property purchase. Nonetheless, despite this fee, Singapore’s property market remains stable and attractive to foreign investors, thanks to its potential for growth. The market’s appeal has prompted a considerable number of new condo launches, making it an even more enticing investment opportunity. For more information on newly launched condos, please visit New Condo Launches.

The Kada at Maxwell offers a variety of rooms, from en suite studios to two- to three-bedroom units, each equipped with a kitchenette. Guests have the option to reserve rooms on a nightly or weekly basis, with a 12-month option also available.

Habyt Asia Pacific CEO Jonathan Wong believes that the Kada at Maxwell highlights the company’s dedication to redefining flexible living in Singapore and signifies the next phase of growth for Habyt Asia Pacific. Room rates at the Kada start at $180 per night.

The flexible living space is housed in a beautifully preserved 1920s colonial building designed by renowned architectural firm Swan & Maclaren. The building was originally built to serve as the St Andrew’s Mission Hospital for Women and Children and is now under the management of Singapore Land Authority (SLA).

In September 2023, SLA launched a public tender to lease the property, with bids evaluated based on the proposed concept and bid price. Bidders were encouraged to come up with unique lifestyle concepts, and the site was eventually awarded to Bethesda Medical with a monthly rental bid of $103,000. This was the third-highest bid price, with Wan Dormitory and The Working Capitol placing first and second at $160,000 and $108,240, respectively.

SLA acknowledged Bethesda Medical’s strong focus on community building and connecting people with businesses as the winning factor for their concept. The first floor of the building will feature 10 food and beverage options, while the second floor will house a gym by Limitless, a wellness center in partnership with Shiruki Studio, and a co-working space. The third floor is where Habyt’s Kada at Maxwell is located.

Residents of the Kada at Maxwell will have exclusive and complimentary access to the property’s health and wellness facilities, including a performance gym, cold plunge, infrared saunas, hot tubs, and foot baths.

According to Wong, “By combining modern amenities with the timeless charm of a heritage building, we are offering guests a unique lifestyle experience that goes beyond traditional accommodation.” The Kada at Maxwell is a perfect example of the Habyt brand’s commitment to providing innovative and exceptional living spaces for its residents.…

The Urban Redevelopment Authority (URA) has recently announced the launch of tenders for two residential Government Land Sale (GLS) sites on December 3. These sites, located at Holland Link and Chuan Grove, are both 99-year leasehold properties and fall under the Confirmed List for the 2H2024 GLS Programme.

Situated along Holland Link off Bukit Timah Road in District 10, the Holland Link site spans 185,141 sq ft and has a maximum gross floor area (GFA) of around 257,225 sq ft. According to URA estimates, it has the potential to yield approximately 230 housing units.

The site is the first GLS land parcel to be launched in the upcoming Holland Plan precinct. Along with Bayshore and Kampong Bugis, this residential area is one of URA’s three upcoming precincts. Marcus Chu, CEO of ERA Singapore, notes that this new precinct is expected to accommodate about 2,500 new homes. He anticipates developers to bid for the Holland Link site in order to take advantage of being first-movers and inject the first 230 units into the pipeline.

Chu further observes that the site is located within a 2km radius of several schools, such as Methodist Girls’ School (Primary and Secondary), Henry Park Primary School, Pei Hwa Presbyterian Primary School and National Junior College. “This could be a plus factor for families with young children looking for priority admission into these schools,” he adds.

Moreover, the Holland Link GLS site is situated near the Brizay Park Good Class Bungalow area. As a result, Mark Yip, CEO of Huttons Asia, predicts that future developments in the Holland Plain precinct are likely to focus mainly on low-density private residences.

Yip expects the Holland Link GLS site to receive between one and two bids, with the top bid estimated to be around $1,200 to $1,300 psf per plot ratio (psf ppr). Similarly, Chu anticipates a subdued response to the site due to the saturation of seven other residential sites currently open for tender. He believes that the site might receive up to three bids.

The Chuan Grove GLS site, which is located along Chuan Grove off Lorong Chuan in District 19, has a land area of 170,409 sq ft and a maximum GFA of 511,232 sq ft. It has the potential to yield approximately 555 new housing units.

The cityscape of Singapore is characterized by towering skyscrapers and state-of-the-art infrastructure. Condos, strategically located in desirable locations, offer a fusion of opulence and practicality that captures the attention of both locals and foreigners. These residences boast an array of conveniences, including swimming pools, fitness centers, and security personnel, elevating the standard of living and making them an appealing choice for renters and buyers. For real estate investors, these desirable amenities result in greater rental returns and appreciation of property value over time. Condos are without a doubt a highly sought-after choice in Singapore’s vibrant property market.

The site is conveniently located within 400m of Lorong Chuan MRT Station on the Circle Line, and is only one stop away from Bishan MRT Station (interchange with the North-South Line) and Serangoon MRT Station (interchange with the North-East Line). Chu expects the future development on this site to appeal to HDB upgraders living in the vicinity. He notes that within the next four years, an estimated 3,815 Build-to-Order (BTO) units sized four-room and larger are set to fulfil their Mandatory Occupation Period (MOP) in Toa Payoh.

Chu adds that residents of HDB flats in older estates may seek to upgrade their homes, given the increasing number of million-dollar flats in neighbouring Serangoon, Bishan, and Toa Payoh. The median transaction prices of five-room flats in Bishan and Toa Payoh over the last ten months were $792,000 and $828,000 respectively.

Chu also notes that developers could be encouraged by the better-than-expected sales performance of Chuan Park, which launched last month with 76% of the development’s 916 units sold at an average price of $2,579 psf during its launch weekend. He anticipates that bids for the Chuan Grove site could range from $571 million to $600 million, resulting in a land rate of above $1,200 psf ppr. Meanwhile, Yip predicts that the site could receive a total of three to five bids, with the top bid ranging between $1,150 and $1,250 psf ppr.

The tenders for the Chuan Grove and Holland Link sites are set to close at noon on July 8, 2025, and July 29, 2025, respectively.…

Ultimately, there are a multitude of benefits to be gained from investing in a condo in Singapore. These include a consistently high demand for such properties, the potential for significant capital appreciation, and attractive rental yields. Nevertheless, it is crucial to thoughtfully consider various factors before making a commitment, such as the location of the condo, available financing options, government regulations, and the current state of the market. By conducting thorough research and seeking the guidance of experienced professionals, investors can make well-informed decisions and optimize their returns in the dynamic real estate landscape of Singapore. Whether you are a local investor looking to diversify your portfolio or a foreign buyer in search of a stable and profitable investment, the condos in Singapore present an enticing opportunity for success.

On December 3, the Urban Redevelopment Authority (URA) launched two residential Government Land Sale (GLS) sites under the Reserved List of the 2H2024 GLS Programme. The sites, named Holland Plain and River Valley Green (Parcel C), are currently available for application and will be put up for sale if a developer indicates a minimum price that is acceptable to the government. Should more than one developer submit a minimum price close to the government’s reserve price, the site may also be considered for tender launch.

The Holland Plain GLS site, which spans about 169,175 sq ft, has a maximum gross floor area (GFA) of around 304,522 sq ft and is expected to yield about 280 residential units. This 99-year leasehold site is situated next to the Holland Link GLS site, which was also launched for tender on the same day. The Holland Plain site has the potential to accommodate an estimated 230 units.

According to Mark Yip, CEO of Huttons Asia, the likelihood of the Holland Plain site being triggered for sale is low. He believes that developers are likely to wait and gauge the response to the Holland Link GLS site first. The tender for the Holland Plain site is set to close in July 2025.

Located next to the upcoming Great World MRT Station on the Thomson-East Coast Line, the River Valley Green (Parcel C) site spans 123,964 sq ft and has a maximum GFA of 433,882 sq ft. This site is expected to yield approximately 470 new housing units. However, Yip predicts that the site is unlikely to be triggered for sale, especially with the ongoing tender for the neighbouring River Valley Green (Parcel B) plot, which is expected to close in February next year. The latter site is projected to yield 580 units, including 220 long-stay serviced apartments.

In addition, the River Valley Green (Parcel C) site is also close to three other GLS sites that were recently awarded. In June, Winchamp Investment, a subsidiary of Wing Tai Holdings, won the bid for River Valley Green (Parcel A), with a top bid of $464 million, or $1,325 psf per plot ratio (psf ppr). This site will be developed into a residential project with over 400 units.

A joint venture between City Developments and Mitsui Fudosan acquired Zion Road (Parcel A) in April for $1.107 billion ($1,202 psf ppr). The developers plan to explore a mixed-use project at the site with about 740 residential units, a retail podium, and a block containing 290 rental apartment units. Finally, Allgreen Properties clinched Zion Road (Parcel B) in August for $730.09 million ($1,304 psf ppr). This site is expected to yield about 610 residential units.

Taking into account the upcoming supply from these three sites, Yip believes that there is little incentive for developers to trigger River Valley Green (Parcel C) for sale at the moment.…

During the week of Nov 12 to 19, the most profitable condo resale transaction occurred at Maple Woods, a freehold condo located on Bukit Timah Road in prime District 10. The sale involved a three-bedroom unit on the first floor, which sold for $3.3 million, or $2,144 per square foot, on Nov 15. The seller had originally purchased the unit in April 2009 for $1.28 million, or $830 per square foot, resulting in a profit of $2.02 million. This translates to a capital gain of 158% for the seller, or an annualised profit of 10.6% over a period of about 15 and a half years.

Maple Woods was built in 1997 and has 697 residences, ranging from two to four bedrooms and sized from 850 square feet to 3,003 square feet. It is conveniently located just a five-minute walk from King Albert Park MRT Station on the Downtown Line and is close to Methodist Girls’ School and the Rail Corridor.

There have been 10 other resale transactions at Maple Woods this year, and all of them have been profitable deals. Three of these units were sold for profits exceeding $2 million. For example, a 1,787 square foot, three-bedroom unit on the eighth floor sold for $3.75 million, or $2,099 per square foot, on July 1997. The seller made a profit of $2.15 million after originally purchasing the unit in July 1997 for $1.6 million, or $895 per square foot.

Another profitable resale transaction took place at UE Square, which is part of UE BizHub City, a mixed-use development in District 9. On Nov 14, a three-bedroom unit measuring 1,528 square feet on the seventh floor sold for $2.95 million, or $1,930 per square foot. The seller had originally acquired the unit through a sub-sale in December 1997 for $1.3 million, or $850 per square foot, resulting in a profit of $1.65 million after owning the unit for nearly 27 years.

Meanwhile, the most unprofitable condo resale transaction during this week was at Tomlinson Heights, a luxury condo off Orchard Boulevard. The 2,745 square foot unit on the 19th floor sold for $8.25 million, or $3,006 per square foot, on Nov 19. The seller had purchased the unit from the developer in February 2011 for $8.85 million, or $3,225 per square foot. This resulted in a loss of about $601,000, or 6.8%, after owning the unit for almost 14 years. This is the first caveated transaction at Tomlinson Heights since Jan 5, 2023, when another 2,745 square foot unit sold for $10.5 million, or $3,825 per square foot. The seller, who bought the unit from the developer in May 2011 for $8.38 million, or $3,053 per square foot, made a gain of $2.12 million.

One advantage of investing in a condo is the opportunity to leverage its value for further investments. This is a popular tactic among investors who use their condos as collateral to secure additional funding for new ventures, leading to the growth of their real estate portfolio. While this approach can enhance profits, it also comes with potential risks, making it important to have a solid financial strategy in place and carefully evaluate the potential effects of market fluctuations. With the emergence of New Condo Launches, investors now have even more options to expand their investment opportunities.

Overall, the most profitable resale transactions during this week occurred at Maple Woods and UE Square, while the most unprofitable transaction occurred at Tomlinson Heights. Maple Woods and UE Square have seen consistently profitable resale transactions throughout the year, while Tomlinson Heights has only seen one other resale transaction recorded since Jan 5, 2023.

As for the condo market in District 9, the price trend graph for resale units shows an overall increase in prices from Jan 2010 to Oct 2023, with a slight dip in 2020 due to the pandemic. Prices have been steadily recovering since then, with an average price increase of 2.5% over the last 12 months.…

The Singapore government has recently announced a one-off rebate on property taxes for owner-occupied properties in both HDB flats and private residential properties in 2025. This move aims to ease the financial burden of homeowners, especially in light of the recent increase in annual value bands for owner-occupied residential properties starting in 2024.

Under this new scheme, owner-occupiers of HDB flats will receive a 20% rebate on their property tax, while those in private residential properties will be granted a 15% rebate. However, the latter will have a cap of $1,000 on their rebate amount.

In Singapore, property tax is calculated based on a property’s annual value, which is an estimation of its rental value for a year. The government has indicated that this rebate is in response to rising concerns about the cost of living among Singaporeans.

According to Lee Sze Teck, senior director of data analytics at Huttons Asia, the annual value of private properties is expected to remain unchanged this year due to minimal growth in private residential rents. On the other hand, HDB rents are projected to increase by 4%, which may result in a slight increase in the annual value of HDB flats.

The one-off property tax rebate could potentially help cushion the effects of any increase in annual value for HDB homeowners. For instance, if a HDB flat’s annual value is $30,000, the property tax payable in 2025 would be $720. With the 20% rebate, the owner will only need to pay $576, resulting in a savings of $144.

Investing in real estate requires careful consideration of the location, and this is even more critical in Singapore. Condos that are strategically located in the heart of the city or in close proximity to important amenities such as schools, shopping centers, and public transportation hubs generally experience a higher rate of appreciation. Prominent areas like Orchard Road, Marina Bay, and the Central Business District (CBD) are prime examples of locations where property values have consistently increased over time. Additionally, the presence of reputable schools and educational institutions in these areas makes condos even more attractive for families, making them a lucrative investment choice. Singapore Projects are a great addition to the range of options for potential investors looking to capitalize on the thriving real estate market in this city.

Similarly, some private residential property owners may also benefit from this rebate. For example, if the annual value of a property is $85,000, the property tax payable in 2025 would be $5,760. With a 15% rebate capped at $1,000, the owner would only need to pay $4,896, saving $864 in property taxes.

However, Lee emphasizes that property tax rebates have been offered before and do not affect the appeal of investing in residential properties in Singapore. The primary draw for such investments lies in the potential for capital appreciation, which outweighs any increase in property tax.

Overall, this move by the government is expected to benefit over 90% of owner-occupiers of private residential properties and all HDB flat owners. It aligns with the government’s goal of mitigating the financial concerns of Singaporeans and maintaining the attractiveness of residential property investments in the country.…

Investing in a condominium has several advantages, including the opportunity to leverage the property’s value for future investments. A common practice among investors is to use their condos as collateral to secure additional financing for new investments. This allows them to expand their real estate portfolio and potentially increase their returns. However, this strategy also comes with risks, so it is important to have a solid financial plan in place and carefully consider the potential effects of market fluctuations. Additionally, keeping an eye on new condo launches can provide even more opportunities for investment growth.

Hill House, a boutique development in prime District 9, has achieved a new record of $3,267 psf for a 452 sq ft two-bedroom unit on the fifth floor. This sets a record that is slightly higher than the previous high of $3,263 psf in November 2023. Located at the top of Institution Hill, off River Valley Road, Hill House has a total of 72 units, with 40 one-bedroom and one-bedroom plus study units ranging from 431 sq ft to 452 sq ft, 24 two-bedroom units of 624 sq ft, and eight three-bedroom units of 753 sq ft. The development is currently under construction and is set to be completed in 3Q2026. According to URA caveats, 29 units (40%) have been sold at an average price of $3,060 psf since its launch in November 2022.…

: Why property is a smart investment

Asia Pacific’s real estate market remains a strong performer compared to its global counterparts, according to Savills Research’s global outlook report for 2025 released on November 28. Real GDP growth in the region has exceeded that of the US and Europe, and this stability in the economic outlook is expected to boost investment and activity.

In the first three quarters of 2024, Apac saw a 4% year-on-year growth in investment volumes, reaching US$108.7 billion. The top three markets with the most significant growth in investment volumes were Singapore (74% growth), South Korea (71%), and Australia (63%). Additionally, Apac is expected to see a full investment recovery next year, driven by sectors such as tourism, living, and the industrial sector, particularly logistics and data centers.

Savills Research forecasts global real estate investment turnover to rise by 27% to US$952 billion in 2025, surpassing the US$1 trillion mark for the first time since 2022. This growth is due to a stabilization in interest rates and improved investor confidence. In Singapore, executive director of research and consultancy Alan Cheong predicts that the country’s real estate market will follow this global trend.

The office sector in Apac remains an attractive investment, commanding 37% of total regional real estate investment, much higher than the global average of 23%. Singapore, China, South Korea, and Japan are the top cities for office utilization, with occupancy rates exceeding 90%. The region also leads in green-certified office spaces, as office occupiers place a stronger emphasis on environmental, social, and governance (ESG) matters.

Acquiring a Singapore Condo presents a promising opportunity for investors, as it holds the potential for significant capital appreciation. Its strategic position as a global business center and stable economic foundations have contributed to the continuous demand for real estate in Singapore. The market has consistently displayed a positive trend, particularly in prime locations where condo prices have seen substantial growth over the years. For those who make the right investment at the right time and hold onto their properties for an extended period, the potential for impressive profits through capital gains is highly achievable.

In Singapore, there has been a slight recovery in activity levels, with more leases being concluded. CBD Grade-A space rental is expected to hold firm from 2025 through 2026. Singapore is also a popular destination for new overseas brands, with prime retail developments seeing healthy demand and keeping rental levels steady.

In the industrial sector, despite cost pressures, demand remains strong in key sectors like logistics, advanced manufacturing, healthcare, and data centers, which should help stabilize rental rates and capital values in the long term. There has been a higher adoption of AI in Singapore, leading to more data centers being built. As a result, more data center service providers are using Singapore as a springboard to identify sites for infrastructure development.

Savills Research also highlights the need for the real estate industry to adapt to evolving legislative and geopolitical dynamics while promoting sustainable and socially responsible development to meet the needs of a changing world. As global investment and activity return to sustained growth, this will be a crucial factor in determining winners and losers in the market.…

Sim Lian Group’s Emerald of Katong saw strong sales in its first fortnight, with 99% of 846 units being sold over a three-day period. As of 30th November, 825 (97.5%) units were sold at an average price of $2,617 psf in Jalan Tembusu. However, there was a shortage of 13 units due to buyers backing out of their purchases following its launch. In response, the developer did a balloting session for these units which were quickly taken up.

The launch of Emerald of Katong affected neighboring projects in the East Coast area, such as the Tembusu Grand developed by City Developments Ltd (CDL) and MCL Land. This 99-year leasehold development located in Jalan Tembusu has already sold 91% of its 638 units, with 52 of them being sold in November and an average price of $2,445 psf.

Despite limited land availability in Singapore, the demand for condos remains high. This is largely due to the country’s rapidly growing population, which poses a challenge for developers seeking suitable land for construction. As a result, strict land use regulations have been put in place, creating a highly competitive real estate market with consistently high property values. As a result, investing in real estate, particularly in condos, has become an attractive option for potential buyers, as the potential for significant capital gains is alluring. Condos are a popular choice for investors in this competitive market.

Another neighboring project is Grand Dunman, a 99-year leasehold development on Dunman Road developed by SingHaiyi. Since November 11, 18 units were sold and cumulative sales have reached 731 units (72.5%), with an average price of $2,531 psf.

In comparison, the Emerald of Katong’s freehold neighbor The Continuum by Hoi Hup Realty and Sunway Developments has more available units, and as such, has performed better than the other two mentioned projects. From November 9th, 126 units were sold and 528 units (64.7%) was sold by November 30. The average price of these sold units is $2,788 psf.

Moreover, the sale for Emerald of Katong units was highest for the 484 sq ft one-bedroom and 624 sq ft two-bedroom units on the 16th to 21st floors, with prices varying from $2,901 psf to $2,958 psf. The Continuum on the other hand, had 11 units sold this November that sold at over $3,000 psf. Most of these were high-floor two-bedroom units with the rest being compact three-bedroom units.

PropNex CEO Ismail Gafoor predicts that November will be a strong month for new home sales, with a total of 2,805 units sold so far. He also believes that this increase will have a significant impact on the take-up rate in 2025.…