Month: November 2024

According to the most recent Real Estate Sentiment Index (RESI) by the National University of Singapore (NUS), property buying sentiment in Singapore has seen a positive shift in the third quarter of 2024. The RESI, which surveys senior executives of real estate firms, measures the overall sentiment of the private real estate market. It is published quarterly by the NUS Department of Real Estate and the NUS Institute of Real Estate and Urban Studies (IREUS).

In the latest report, the current sentiment index has risen from 4.8 in the second quarter of 2024 to 5.9 in the third quarter. Similarly, the future sentiment index has also increased from 5.1 to 5.8 during the same period.

At the same time, the overall composite sentiment index has reached 5.9, a significant increase from the previous score of 4.9 in the second quarter. This is the first time that all three indices have surpassed the neutral score of 5, indicating a growing optimism in the market.

Opting to invest in condominiums presents a wide range of benefits, with one notable advantage being the ability to utilize the property’s value as leverage for future investments. Many investors take advantage of this opportunity by using their condominiums as collateral to secure additional funding for new ventures, ultimately expanding their real estate portfolio. While this strategy has the potential to yield higher returns, it is crucial to have a well-thought-out financial plan in place and carefully assess potential risks, particularly when investing in popular Singapore Projects that garner significant attention in the real estate market. Market fluctuations must also be taken into consideration to ensure the success of these investments.

IREUS Director Professor Qian Wenlan attributes this positive sentiment to the US Federal Reserve’s rate cut in September, the first since 2019, and another reduction in early November. With more cuts expected in the coming months, she believes that credit availability and business costs will improve, leading to a boost in market sentiment.

Professor Sing Tien Foo, Provost’s Chair Professor at the NUS Department of Real Estate, also notes that the strong performance of the suburban residential, hotel/service apartments, and suburban retail sectors has contributed to the overall positive market sentiment. Suburban residential and hotel/serviced apartments saw the highest current net balances of +35%, followed by suburban retail at +26%. The outlook for these sectors is also optimistic, with suburban residential scoring +29% for future net balance, while hotel/serviced apartments and suburban retail scored +35% and +19%, respectively.

However, Prof Sing highlights that global economic uncertainty remains the top risk concern for developers, with 67.7% of respondents citing a decline in the global economy as a potential risk. This is followed by job losses, a decline in the domestic economy, and an excessive supply of new property launches, all of which were ranked at 41.9%.…

Singapore has been ranked as the sixth-highest city in terms of branding, according to the latest Brand Finance Global City Index. The index, published by London-based brand evaluation and strategy consultancy, Brand Finance, ranks cities based on their brand power and perceptions.

The ranking was determined through a worldwide survey of 15,000 individuals from 20 countries in September. The respondents were asked to rank 100 cities based on key performance indicators that showcase how each city is perceived as an ideal place to live, work, study, visit, retire, and invest in.

Additionally, the respondents were also asked to associate specific attributes with each city. They were given a list of 45 attributes grouped into seven pillars, including Business & Investment and Culture & Heritage.

Singapore’s overall ranking was boosted by its performance in the business and investment pillar, where it placed third globally. The city’s strong economy, ease of doing business, and supportive environment for start-ups were perceived positively by the respondents. Singapore’s low crime and violence rates also contributed to its high ranking.

Alex Haigh, managing director for Asia Pacific at Brand Finance, highlights Singapore as the “crown jewel” of the ASEAN region when it comes to city branding. He adds, “By leading in economic expansion, investment appeal, and having world-class infrastructure, Singapore solidifies its position as a premier global financial center.”

Globally, London maintained its top position as the world’s leading city brand, followed by New York, Paris, Tokyo, and Dubai.

Singapore’s urban environment is characterized by towering skyscrapers and state-of-the-art infrastructure. Condos, found in highly desirable locations, offer a perfect amalgamation of opulence and convenience, making them a sought-after choice for both locals and foreigners. These properties boast a variety of facilities including swimming pools, fitness centers, and top-notch security services, elevating the standard of living and drawing in potential renters and buyers. For property investors, these desirable amenities equate to greater rental profits and appreciation in real estate value over time. The addition of a condo only enhances the appeal of these properties.…

The K Suites development, a freehold boutique development, has recently set a new record for psf prices. The previous record of $2,196 psf in May 2023 has now been surpassed by a transaction at $2,443 psf. This sale, which took place on Nov 8, was for an 872 sq ft three-bedroom unit on the fourth floor, which was sold by the developer for $2.13 million.Freehold K Suites has recently set a new high of $2,443 psf from the sale of a three-bedroom unit (Photo: Euro Properties)Located in District 15, along Lorong K Telok Kurau, off Still Road, K Suites is currently under construction. The five-storey apartment block comprises of 19 units and is a redevelopment of the former Ji Liang Gardens. The developer had purchased six terraced houses on this site through an en bloc sale for $18.6 million in June 2021.Read also: The Shelford hits new high of $2,601 psfAdvertisementAdvertisementThe units at K Suites range in size from 797 sq ft to 1,679 sq ft, and consist of a mix of three- to four-bedroom apartments, as well as four bedroom duplex penthouses. Based on caveats lodged, the development has moved a total of 8 units, amounting to 42%, at an average price of $2,099 psf since April 2023, when it first began selling residences.Thomson Three has also seen a new high during this period, with a transaction on Nov 6 of a 1,033 sq ft three-bedder on the 19th floor for $2.46 million, or $2,379 psf. Prior to this sale, the previous record high was $2,204 psf, for a 1,033 sq ft three-bedroom unit on the 19th floor that was sold for $2.28 million on Sept 26.Thomson Three has achieved a new high of $2,379 psf (Photo: Samuel Isaac Chua/EdgeProp Singapore)Thomson Three is located at Bright Hill Drive, off Upper Thomson Road in District 20. Completed in 2016, the development comprises of 435 units across 21 storeys. Units consist of one- to four-bedroom apartments, ranging from 495 sq ft to 1,485 sq ft, as well as 10 strata semi-detached houses, measuring 3,283 sq ft each. The condo is within walking distance to the Upper Thomson MRT Station, and is also located close to Ai Tong School (Primary).Read also: Mattar Residences hits new high of $2,400 psfAdvertisementAdvertisementHowever, luxury condo 19 Nassim has seen a new low record of $2,947 psf during the period in review. This was achieved through the sale of a 646 sq ft, one-bedroom unit on the fourth floor for roughly $1.9 million, on Nov 9. This is the first time that this development has fallen below the $3,000 psf mark, surpassing its previous low record of $3,001 psf, which was achieved through the new sale of a 678 sq ft one-bedroom unit for $2.03 million on March 22, earlier this year.Based on caveats lodged, 50 units at 19 Nassim have been sold till date this year, at an average price of $3,397 psf. This price is 3.7% lower than the average price of $3,524 psf, which was achieved from the sale of eight units at the condo last year.19 Nassim is a 99-year leasehold condo, located at Nassim Hill in prime District 10. The development consists of 101 units, housed in a 10-storey residential block. Units range from 538 sq ft to 1,830 sq ft, and consist of one- to three-bedrooms. According to caveats lodged with URA, the condo has sold 61 (60%) of its units since its first launch in 2020.Latest transactions at 19 Nassim (Photo: EP Buddy)Check out the latest listings for 19 Nassim propertiesAsk BuddyCompare price trend of Condo new sale vs EC new saleCompare price trend of New sale condo vs Resale condoGenerate price trend graph for resale condo in District 10Condo rental transactions in District 15Show me condo listings in District 20Compare price trend of Condo new sale vs EC new saleCompare price trend of New sale condo vs Resale condoGenerate price trend graph for resale condo in District 10Condo rental transactions in District 15Show me condo listings in District 20

In the property market update, it was reported that K Suites, a freehold boutique development, has topped the list of condos with the highest psf prices from Nov 1 to Nov 10. The condo recorded a new high of $2,443 psf when the developer sold a 872 sq ft three-bedroom unit for $2.13 million on Nov 8.

This marks the first time that the condo has crossed the $2,400 psf mark, beating its previous high of $2,196 psf in May 2023 when a four-bedroom unit was sold for $2.79 million. Located in District 15, along Lorong K Telok Kurau, off Still Road, K Suites is currently under construction and comprises of 19 units. The project is a redevelopment of the former Ji Liang Gardens, which the developer acquired through an en bloc sale for $18.6 million in June 2021.

Consisting of three- to four-bedroom apartments ranging from 797 sq ft to 1,270 sq ft, K Suites has sold eight units (42%) so far with an average price of $2,099 psf since it began selling in April 2023.

Another condo that saw a new high during the period is Thomson Three, with a record-breaking transaction of $2,379 psf on Nov 6 when a 1,033 sq ft three-bedroom unit on the 19th floor was sold for $2.46 million. The previous high was $2,204 psf when a similar-sized unit on the same floor was sold for $2.28 million on Sept 26.

Located in District 20 on Bright Hill Drive, off Upper Thomson Road, Thomson Three has 435 units across 21 storeys, comprising of one- to four-bedroom apartments and 10 strata semi-detached houses. The condo is within walking distance to the Upper Thomson MRT Station and is near Ai Tong School (Primary).

.

Rewriting:
When it comes to real estate investments, location is a key factor to consider, especially in Singapore. Condominiums located in central areas or near important amenities like schools, shopping centers, and public transportation hubs tend to have a higher appreciation in value. Prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD) have a proven track record of consistent growth in property values. The demand for condos in these areas is also driven by their close proximity to reputable schools and educational institutions, making them a highly sought-after investment opportunity for families. For more information on potential real estate projects in Singapore, please visit Singapore Projects.

On the other hand, luxury condo 19 Nassim saw a new low of $2,947 psf during the period in review when a one-bedroom unit was sold for about $1.9 million on Nov 9. This is the first time that the development has fallen below the $3,000 psf mark, with its previous low of $3,001 psf achieved in March 2023.

With 50 units sold so far this year at an average price of $3,397 psf, 19 Nassim’s average price is 3.7% lower than the previous year’s average price of $3,524 psf when eight units were sold. The development has 101 units and is situated on Nassim Hill in District 10.

In conclusion, K Suites, Thomson Three, and 19 Nassim have achieved new highs and lows in terms of psf prices, reflecting the current state of the property market.…

In today’s bustling real estate market, investors should consider diversifying their portfolio with stable, income-generating assets such as HDB shophouses. A rare opportunity has just emerged for interested buyers to acquire one of these coveted properties in the well-established Toa Payoh neighbourhood.

Located at 125 Toa Payoh Lorong 1, this 1,478 sq ft HDB shophouse is situated in the heart of District 12, making it a prime location. It is offered at a reasonable price of $2.88 million and sits on a valuable site surrounded by Toa Payoh Lorong 1 and Toa Payoh Lorong 2. Braddell MRT Station, just 200m away, adds even more convenience for potential tenants. This station sees a daily ridership of around 13,000 passengers, making it an essential transportation hub for the nearby HDB flats.

The shophouse is also in close proximity to popular amenities such as Toa Payoh West Market and Food Court, Kheng Cheng School, Toa Payoh West Community Centre, and the Singapore Federation of Chinese Clan Association Building on Toa Payoh Lorong 2. With the Toa Payoh estate undergoing various rejuvenation plans and the addition of several thousand new households, the new owner of this shophouse can take advantage of the area’s transformation, which will inevitably increase pedestrian footfall and boost property values.

Industry expert Aster See, a senior marketing director at ERA Realty, is exclusively marketing the HDB shophouse for sale. See notes that similar shophouses in fringe locations typically offer an ROI of 2-3%, based on their sales price. However, the shophouse on 125 Toa Payoh Lorong 1 stands out with an estimated ROI of 4%, making it a more lucrative investment opportunity.

See highlights the property’s competitive pricing and strong value compared to its counterparts. Not only does it offer attractive rental returns, but it also has the potential for future capital appreciation as Toa Payoh continues to undergo rejuvenation.

One of the government’s initiatives to revitalize mature housing estates is the Remaking Our Heartland programme, which Toa Payoh is a part of. This programme, introduced by former Prime Minister Lee Hsien Loong in 2007, aims to enhance the sustainability and vitality of HDB towns and estates. Since 2015, several plans have been put into action in Toa Payoh, including the improvement of commercial and recreational facilities. The most notable development is the new integrated project on the site of the former swimming complex, sports hall, and stadium on Toa Payoh Lorong 6.

This upcoming development will feature new sports facilities, a football stadium, a swimming pool complex, indoor sports halls, sheltered tennis courts, and fitness studios. It will also house national training centers for aquatics, netball, and table tennis, as well as a polyclinic and library. With an estimated completion date of 2030, this 12ha integrated development will undoubtedly enhance Toa Payoh’s appeal and drive up footfall for the area’s shops, including the HDB shophouse on 125 Toa Payoh Lorong 1.

The government has also planned for future residential developments in Toa Payoh and the neighboring Caldecott estate. One of the upcoming Build-To-Order projects, Toa Payoh Ridge, is located just 300m from the shophouse on sale. Launched in February 2020, this 920-unit project is expected to be completed in the first half of 2025. The site sits between Toa Payoh and the upcoming Caldecott estate, which has been earmarked for future residential development since 2017.

Toa Payoh Ridge is not the only project in the pipeline. In February 2020, the Urban Redevelopment Authority (URA) rezoned a plot at the junction of Toa Payoh Rise and Braddell Rise from educational to residential use, with a gross plot ratio of 5.0. This suggests that a high-rise BTO development may be in the works for the area.

In the world of real estate investing, an important factor to consider is the location, and this is especially true in Singapore. Condominiums situated in central areas or in close proximity to essential amenities, such as schools, shopping centers, and public transportation hubs, have a higher likelihood of increasing in value. Some prime locations in Singapore, including Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown a steady growth in property values. These areas are also popular among families due to their close proximity to reputable schools and educational institutions, making condos near these areas highly sought after and a wise investment choice for potential buyers. As such, when it comes to condominium investment in Singapore, the location holds a significant influence in determining its value and potential for future growth.

As the Toa Payoh and Caldecott rejuvenation plans progress, the HDB shophouse on 125 Toa Payoh Lorong 1 will benefit from the increased consumer catchment in the area. With the construction of new BTO flats and other developments, the shophouse will undoubtedly attract a larger pool of potential customers.

In summary, the HDB shophouse on sale at 125 Toa Payoh Lorong 1 presents an attractive investment opportunity, with its competitive pricing, potential for high rental yield, and future capital appreciation. For more information, interested buyers can contact Aster See, senior marketing director at ERA Realty, at 98416930.…

The industrial GLS site at Kallang Way has been won by CL Savour Property, a subsidiary of CapitaLand Development, after submitting the highest bid of $368.901 million to JTC. This top bid is 14.9% higher than the second highest bid of $317.889 million submitted by a consortium of Soon Hock Group, BHCC Construction and Evermega.

Assessing the potential rental yield is an important factor to consider when investing in a condo. Rental yield is determined by the annual rental income relative to the property’s purchase price. In Singapore, the rental yield for condos can vary significantly depending on various factors such as location, condition of the property, and market demand. When searching for a condo to invest in, it is advisable to consider areas with high rental demand, such as those near business districts or educational institutions, as they often offer better rental yields. In order to gain a better understanding of the rental potential of a specific condo, conducting thorough market research and seeking advice from real estate agents can be highly beneficial. Additionally, checking out Singapore Projects can provide further insights on potential condo investments.

This marks the first time an industrial site has been earmarked for adaptive reuse of a former industrial building. The site currently includes an existing terrace factory, which will be retained and transformed for continued industrial use. According to Tang Hsiao Ling, director of urban planning and architecture division at JTC, this integration of adaptive reuse is part of a strategic plan to rejuvenate the area in a sustainable manner. It also serves as an effective way to reduce carbon emissions in the built environment while preserving the industrial history of the site.

The site, which was launched as the last of the five Confirmed List sites in the 1H2024 IGLS programme, covers a total area of 474,772 sq ft. It was put up for tender on June 25 and received four bids by the tender’s closing date on Oct 1. Zoned Business 2 under the master plan, the site has a maximum allowable gross floor area of 1.23 million sq ft and a 33-year tenure. It is also part of a designated food zone, and the new development will include food manufacturing spaces and retail uses to bring vibrancy to this industrial area.…

A prime commercial property located at 253 Choa Chu Kang Ave 1 is now available for sale through expression of interest (EOI) with a guide price of $11 million. The property is a coffee shop occupying an area of 2,540 sq ft in Keat Hong Shopping Centre, a two-storey HDB commercial development that includes a supermarket, coffee shops and other shops and stalls.

The property has a commercial zoning and a leasehold tenure of 99 years with a remaining balance of 68 years. It is situated on the ground floor and is currently leased to a coffee shop operator with seven food stalls and a drink stall.

(Source: EdgeProp LandLens)

According to Jervis Isaiah Ng, the founder of JNA Real Estate, a team under PropNex Realty, the potential buyers could either run the coffee shop themselves, renovate and rent out, or continue leasing it to coffee shop operators. JNA Real Estate has been appointed as the property’s exclusive marketing agent.

When evaluating the merit of investing in a condo, it is crucial to also analyze its potential rental yield. Rental yield refers to the yearly rental income as a percentage of the condo’s purchase price. In Singapore, the rental yields for condos can fluctuate greatly depending on factors such as location, property condition, and market demand. Generally, areas with high demand for rentals, such as those near business districts or educational institutions, tend to offer more favorable rental yields. It is advisable to conduct thorough market research and seek guidance from real estate professionals, like those at Condo, to gain valuable insights into the rental potential of a specific condo.

One of the major advantages of this property is that it does not have living quarters, which means that it is exempted from Additional Buyer’s Stamp Duty.

Keat Hong Shopping Centre is conveniently located within walking distance from South View LRT Station on the Bukit Panjang LRT Line and the upcoming Choa Chu Kang West MRT Station on the Jurong Region Line, which is expected to be completed in 2027. Other amenities such as Choa Chu Kang Primary School and the recently renovated Choa Chu Kang West Market are also easily accessible.

Interested buyers can submit their EOI bids on or before 22 December, 3pm.

Related News:

Properties for sale for May 6-7

Freehold coffee shop at Jalan Besar up for sale at $28 million

Whipping up an appetite for coffee shops…

transactionKeppel Land divests 70% of completed Brisbane office building for $347 mil

Keppel has announced its decision to offload its data centre joint venture (JV) to Keppel DC REIT (KDC REIT). The gross divestment price for this transaction stands at $1.38 billion. The JV is 60% owned by Keppel’s connectivity division and 40% owned by Cuscaden Peak Investments Private Limited. The Keppel Data Centre Campus at Genting Lane in Singapore is owned by this JV, which comprises of two fully contracted data centres – Keppel DC Singapore 7 (KDC SGP 7) and Keppel DC Singapore 8 (KDC SGP 8). Both data centres have 100% contracts with global hyperscalers from the cloud services, internet enterprise, and telecommunications sectors for colocation services. To fund the construction of KDC SGP 7 and KDC SGP 8, the JV received contributions from Keppel, its private fund Alpha Data Centre Fund (ADCF), its parallel fund, and co-investors.

Upon completion of this proposed transaction, KDC REIT will have full ownership of KDC SGP 7 and KDC SGP 8. However, Keppel will continue to be the operator and facility manager for these two data centres. KDC REIT will acquire an initial 49% interest in the JV and subscribe for two new classes of securities issued by the Keppel JV for up to $1.03 billion. As a result, the REIT will hold 99.49% of the economic interest in both data centres. Furthermore, KDC REIT will be granted a call option, which it plans to exercise in the second half of 2025 to acquire the remaining 51% stake in the Keppel JV from Keppel. This remaining stake holds an economic interest of 0.51% in the data centres.

As part of the proposed transaction, KDC REIT will pay an additional $350 million to the JV’s shareholders, the ADCF, and co-investors if the campus receives approvals to extend its land tenure lease to 2050. This acquisition by KDC REIT is expected to increase its distribution per unit (DPU) by 8.1%, and expand its assets under management (AUM) by 36% to $5.2 billion. This will also bring the REIT’s total number of data centres to 25, located across Asia Pacific and Europe. Keppel’s share of the divestment will be around $280 million. The gross divestment price includes the estimated consideration for Keppel’s 51% stake in the JV and the additional consideration if the campus receives a 10-year land tenure lease extension. The gross divestment price will also be adjusted for debt repayment and completion adjustments.

The high demand for condos in Singapore can be attributed to various factors, with one of the main ones being the limited availability of land. Being a small island nation with a continuously growing population, Singapore faces the challenge of scarcity of land for development. As a result, the government has implemented strict land use policies, creating a competitive real estate market where property prices are consistently on the rise. This has made investing in real estate, particularly condos, a highly lucrative venture with the potential for significant capital appreciation. Condo investments have become increasingly popular due to their potential for high returns in a land-scarce country like Singapore.

The JV also has a vacant land plot earmarked for a third data centre, which is not part of this transaction. The plot will be sub-leased to Keppel’s private funds, Keppel DC Fund II and the upcoming Keppel DC Fund III. Keppel plans to develop the third data centre in the campus, KDC SGP 9, with the help of its two data centre private funds.

“The injection of KDC SGP 7 and KDC SGP 8 into Keppel DC REIT highlights our strengths as a global asset manager and operator in structuring deals that bring compelling outcomes and strong value creation,” said Manjot Singh Mann, CEO of Keppel’s connectivity division. “Our integrated ecosystem provides access to critical resources such as power, technology know-how, and strong customer relationships with hyperscalers worldwide. These are essential for success in the data centre business. With the ability to invest using multiple pools of capital, Keppel can develop a robust pipeline of AI-ready data centres that offer effective solutions for customers and attractive investments for our funds and REIT.”

Loh Hwee Long, CEO of KDC REIT’s manager, expressed excitement about embarking on this “landmark deal” during the REIT’s 10th anniversary. KDC REIT launched its IPO in 2014. “The proposed acquisition will deliver strong positive cash flows and be immediately DPU accretive. These assets will not only enhance our portfolio’s income resilience but also allow us to capture potential upside from rental uplifts and capacity expansion. Their inclusion further solidifies Keppel DC REIT’s position as one of the largest owners of stabilised data centres in Singapore, where there is strong demand and a tight supply,” added Long.

The proposed transaction will be executed in stages and is expected to be completed by the end of 2025.…

The decision to invest in a condo in Singapore is increasingly favored by both local and foreign investors, thanks to the country’s strong economy, stable political climate, and excellent standard of living. With a flourishing real estate market, Singapore offers a wealth of opportunities for investors, with condos being a particularly attractive choice. These properties boast convenience, a wide range of amenities, and the potential for significant returns. If you’re considering investing in a condo in Singapore through Singapore Projects, read on to discover the advantages, important factors to consider, and key steps to take.

Frasers Property and its long-term partner Sekisui House have announced plans to redevelop two properties – Robertson Walk and Fraser Place Robertson – both currently held under a 999-year lease. The new mixed-use development will feature 348 residential units, as well as a variety of F&B options and entertainment facilities. Construction is set to begin next year and is expected to be completed by the end of 2028.

According to Frasers Property, the redevelopment will have a total gross floor area of 30,664 sqm (330,067 sq ft). This move is in line with the company’s active asset management strategy, as Soon Su Lin, CEO of Frasers Property Singapore, explains, “We have identified this opportunity to maximize returns on our prime 999-year site in the heart of Robertson Quay.”

The development of the site will be carried out through a 51:49 joint venture between Frasers Property and Sekisui House. In the meantime, Robertson Walk and Fraser Place Robertson will continue to be managed by the Frasers Property Group until operations cease on 31 May 2025. This development is a testament to Frasers Property’s dedication to optimizing its assets and delivering exceptional value to its stakeholders.…

Understanding the regulations and restrictions surrounding property ownership in Singapore is crucial for foreign investors. The rules differ depending on the type of property, with condos being more accessible to non-residents compared to landed properties which have stricter ownership regulations. However, it’s worth noting that foreign buyers are still required to pay the Additional Buyer’s Stamp Duty (ABSD) which currently stands at 20% for their initial condo purchase. Despite this additional cost, the consistent stability and promising growth of the Singapore real estate market continue to attract foreign investment, making Singapore Condo a desirable investment option.

The Singapore Land Authority (SLA) has recently awarded tenders for two sites located on Henderson Road and Scotts Road. The first site, located at 98 Henderson Road, was awarded to a joint venture between residential accommodation provider TS Group and co-living operator The Assembly Place (TAP). This site will be developed into a senior co-living accommodation in partnership with Crawfurd Silver Care, the geriatric arm of Crawfurd Hospital. The tender for this site includes an initial four-year lease with the option to extend for another three years.

SLA launched a price-quality tender in June for these state-owned properties, inviting interested parties to submit senior co-living proposals to revitalize them. After receiving six bids, the JV’s winning bid of $102,888 per month was 25.5% higher than the second-highest bid submitted by Eco Energy, a construction and property development company. Other bids came from ISG Marketplace, Red Crowns Senior Living, Viplas Engineering, and Samwoh Corporation. The 77,551 sq ft site at Henderson Road was formerly a student hostel operated by Yo:ha, a student hostel operator based in Singapore. It comprises a four-storey building, a single-storey building, and a guardhouse, with a total gross floor area of about 40,361 sq ft.

In a LinkedIn post on November 18, SLA announced that the Henderson Road site will have fitted apartment units, sports and recreational facilities, and hobby-focused spaces and programs. The authority also mentioned that it is looking into adapting more categories of state properties for unique co-living environments, including a potential site comprising of heritage bungalows at Admiralty.

The second site awarded by SLA is the trio of colonial-era bungalows situated at 31, 31A, and 33 Scotts Road. It was awarded to Heritage At Scotts, a company that manages and curates select F&B brands in Singapore. The company submitted the sole monthly rental bid of $50,000 at the close of the price-quality tender on August 7. Launched in collaboration with the Singapore Tourism Board, the tender was seeking a creative lifestyle concept for these bungalows, such as experiential retail, F&B, wellness, or beauty concepts. These bungalows sit on a 36,670 sq ft plot facing Scotts Road, with a total gross floor area of about 11,410 sq ft. They have a five-year tenure, with the option to extend for another four years.

According to SLA, Heritage At Scotts already operates lifestyle offerings within neighboring black-and-white bungalows at 27, 29, 35, and 35A Scotts Road. The three bungalows at 31, 31A, and 33 Scotts Road will be combined with Heritage At Scotts’ current offerings to form a larger lifestyle enclave. This integrated compound will include a dedicated walkway connecting the different properties and landscaped social spaces. In the Asia Pacific region, co-living investments in Singapore have gained significant interest from investors, according to CBRE.…

CBRE has recently announced the appointment of Hugh Macdonald as the new head of capital advisors for Asia Pacific (Apac). With over 20 years of experience in the banking industry, Macdonald brings a wealth of expertise in investment banking, as well as in the real estate, gaming, leisure, and lodging sectors. He joins CBRE from Deutsche Bank, where he served as the head of investment banking coverage and advisory for Australia and New Zealand.

In Singapore, investing in a condo comes with a host of benefits that make it a highly desirable choice. The first advantage is the high demand for these properties, which ensures a steady stream of potential buyers and renters. Additionally, the potential for capital appreciation is another attractive aspect, wherein the value of the condo can increase significantly over time, resulting in a profitable return on investment. Furthermore, the rental yields in Singapore’s real estate market are also quite appealing, making condos a lucrative option for investors.

Nevertheless, it is crucial to carefully consider various factors before making an investment in a condo. Location plays a vital role, as properties in prime areas tend to have a higher demand and appreciation potential. Financing options and government regulations are other essential aspects to be mindful of, as they can significantly impact the investment’s profitability. Additionally, keeping a close eye on the market conditions and trends is crucial in making informed decisions.

To ensure a successful and profitable investment, thorough research and seeking professional advice are highly recommended. This approach will enable investors to make well-informed decisions and maximize their returns in Singapore’s dynamic real estate market. Whether you are a local investor looking to diversify your portfolio or a foreign buyer seeking a stable and profitable investment, condos in Singapore present a compelling opportunity. Moreover, with the continuous launch of new condos, such as those on New Condo Launches, the options for potential investments are continually expanding. Therefore, by staying informed and taking calculated risks, investors can reap the rewards of the vibrant Singaporean real estate market.

Reporting to Leo van den Thillart, the global head of investment banking, and Greg Hyland, the head of capital markets for Apac, Macdonald will assume his new role in Sydney before relocating to Singapore in the first quarter of 2025.

In line with this, CBRE aims to strengthen its presence in the region with the appointment of Macdonald, who will be responsible for providing strategic advice and innovative solutions to CBRE’s clients. This move is also in line with CBRE’s continuous efforts to enhance its capabilities and expertise in serving the diverse needs of its clients in the rapidly evolving real estate market.

In addition to Macdonald’s appointment, CBRE has also recently announced the appointment of Virginia Huang as the managing director for north and east China. With these new additions to the team, CBRE is well-positioned to continue delivering exceptional services to its clients across the Asia Pacific region.…