Month: November 2024

Sales of Emerald of Katong, developed by Sim Lian Group, were strong during its launch weekend, with 835 of 846 units (98.7%) being sold in just two days. The VIP sales, which took place on Nov 15, saw 401 units (47%) being taken up, followed by another 434 units on Nov 16. The average price of units sold during the weekend was $2,621 per square foot. Sim Lian declined to comment on the sales figure.

“It probably holds the record for the most number of units sold in a day, surpassing J’Gateway’s 738 units in June 2013,” says Mark Yip, CEO of Huttons Asia.

Only 11 units remain available at Emerald of Katong, consisting of nine one-bedroom and two five-bedroom units. All two-, three-, and four-bedroom unit types have been sold out. According to Yip, buyers preferred the larger units with either a study or flex layout, most likely for owner-occupation purposes to meet their lifestyle needs.

Get the latest information on available units and prices for Emerald of Katong.

Emerald of Katong sales chart as of 9.30pm, Nov 16 (Sources: Real estate agents)

Investing in a Condo has another advantage – the possibility of using the property’s worth for further investments. Numerous investors take advantage of their condos as security to acquire additional funds for new ventures, thus broadening their real estate portfolio. While this approach can potentially increase returns, it also poses risks. It is essential to have a solid financial strategy and take into account the potential consequences of market changes. With a Condo investment, one can leverage their property’s value for future endeavors. This allows for the expansion of a real estate portfolio through the use of the condo as collateral for obtaining additional financing. However, it is crucial to have a well-thought-out financial plan in place and carefully consider the potential impact of market fluctuations when using this strategy.

Top-selling project of 2024

Lee Liat Yeang, senior partner of Dentons Rodyk & Davidson LLP, the developer’s lawyers, refers to Emerald of Katong as the top-selling project of 2024 in terms of both the number of units and the percentage sold during its launch weekend.

The sales performance of the project, located at Jalan Tembusu in District 15 and on a 99-year leasehold, is particularly significant as it was launched on the same weekend as two other projects. Nava Grove, a 552-unit 99-year leasehold development by MCL Land and Sinarmas Land, reportedly sold 359 units on Nov 16, representing 65% of its total units. Meanwhile, Novo Place, a 504-unit executive condominium (EC) at Plantation Close in Tengah by joint developers Hoi Hup Realty and Sunway Developments, is said to have achieved a 57% sales rate on the same day.

These three projects brought the total to six new residential projects (including the EC project) launched over the past two weeks, an unprecedented number. “Initially, we were worried that launching six projects within 14 days might overshadow some of them,” says Ismail Gafoor, CEO of PropNex.

“However, with 3,551 units available, homebuyers had the opportunity to visit all the developments before making their decision,” adds Gafoor. “In fact, having so many choices within a short span of time seemed to help buyers make decisions more quickly. The level of interest may not have been as high if the launches were spread out over two months.”

Gafoor also pointed out that the decision by Kingsford Group to move forward the launch of the 916-unit, 99-year leasehold Chuan Park to Nov 10 instead of Nov 16, also contributed to the strong sales at Emerald of Katong. “Those who may have originally preferred Chuan Park but were unable to secure a unit there had the opportunity to consider Emerald of Katong instead,” says Gafoor. “If the two projects were launched on the same weekend, prospective buyers might have been torn between them. By bringing forward Chuan Park’s launch, both projects benefited.”

Read also: Nava Grove achieves 65% sales on launch weekend at an average price of $2,448 psf

Chuan Park also saw strong sales, with 696 units (representing 76% of its units) being sold in just one day at an average price of $2,579 per square foot.

Holding prices steady

Another factor contributing to the strong sales at Emerald of Katong was the decision by the developer to maintain prices throughout the launch day, despite the overwhelming response. A total of 3,629 cheques were collected as expressions of interest, which translates to the project being oversubscribed 4.3 times. “Sim Lian did not raise their selling prices from the initial price list,” says Gafoor. “This reassured buyers and agents that they still had a chance to secure a unit at the same price, even if their queue number was as high as 3,000.”

Based on caveats lodged, District 15 has always been among the top districts to live in Singapore, notes Huttons’ Yip. “The East Coast lifestyle and limited availability of large projects attracted buyers to Emerald of Katong,” he says.

“Compared with other new projects in the RCR [Rest of Central Region], which have a median price of $2,955 per square foot, Emerald of Katong’s starting price from $2,423 per square foot is very attractive,” says Marcus Chu, CEO of ERA Singapore.

Buyers who were unable to secure a unit at Emerald of Katong turned to other major developments in the vicinity, particularly the three projects launched last year: the 1,008-unit, 99-year leasehold Grand Dunman; the 638-unit, 99-year leasehold Tembusu Grand; and the 816-unit, freehold The Continuum. “All three projects saw good sales on Saturday,” according to Huttons’ Yip.

From Nov 11 to 16, The Continuum reportedly registered 22 new sales, while Tembusu Grand saw 12 units being sold, and Grand Dunman recorded five new sales.

Read also: Novo Place EC achieves 57% sales on launch day at an average price of $1,654 psf Advertisement

Huttons’ Yip attributes the strong sales momentum to “better economic growth and cuts in interest rates”, which have attracted more buyers to the new homes market due to their improved borrowing capacity. He adds that lower returns from other investment assets may have encouraged more buyers to consider property as a preferred investment.

November sales likely to be the highest since March 2013

Huttons estimates that developers’ sales in November could reach up to 2,200 units, approaching the levels seen in March 2013, when 2,793 units were sold.

On-the-ground observations indicate a growing number of prospective local and foreign buyers using trust structures to acquire homes for their children, notes Yip. “Investing in residential property may serve as a form of wealth planning and preservation,” he says. This trend, he adds, reflects rising wealth among local buyers and an influx of overseas funds into Singapore.

Figures from the Monetary Authority of Singapore (MAS) show that the number of single-family offices grew to 1,650 as of August 2024, an increase of 250 from the end of 2023, according to Huttons. During the same period, the M1 money supply – which includes cash, demand deposits, and other liquid deposits – increased by $10.2 billion in the first nine months of 2024.…

– (Due to the limited supply of Executive Condos (ECs) in the market, the launch of Novo Place is highly anticipated. Developed jointly by Hoi Hup Realty and Sunway Developments, it offers 504 units and had its sales bookings commence on the morning of November 16. According to Mark Yip, Chief Executive Officer of Huttons Asia, the strong take-up rate of the EC reflected a robust demand from buyers seeking an affordable private residential lifestyle. The development sold 286 units, making up 57% of the total units, at an average price of $1,654 per square foot (psf). Yip highlighted that the take-up rate could have been even higher if not for the 30% quota set aside for second-timers. He suggested that the government increase the quota for second-timer buyers as the balloting for them in one month is expected to see strong demand. The split between first-time and second-timer buyers was 47% and 53% respectively. Additionally, second-timers are homebuyers who have previously purchased subsidized housing, either as a new or resale HDB flat or an EC. The 30% quota for second-timers at Novo Place was fully taken up by 1 pm on launch day. Ismail Gafoor, Chief Executive Officer of PropNex, mentioned that while second-timers were unable to secure a unit on launch day, they will have another opportunity after 30 days when the quota is lifted. This will allow them to make bookings starting from December 16. Out of the 287 units sold, 76% of buyers opted for the deferred payment scheme while 24% chose the normal payment scheme, according to Huttons. The EC project has a unit mix of three-to four-bedroom plus-study units across seven 18-storey residential blocks. The three-bedroom plus-study units are 97% sold while the four-bedroom units are fully sold. The four-bedroom plus-study units, however, are more than half sold. The sales results reflect the demand from HDB upgraders who are looking for a bigger space and greater flexibility in terms of space use, according to Yip. Located in Tengah’s Plantation District, Novo Place is within walking distance from the upcoming Tengah Park MRT Station on the future Jurong Regional Line. The station is expected to be completed by 2028. The Executive Condo offers a deferred payment scheme option, which is exclusive to this housing segment, allowing homebuyers to lock in their preferred unit and service the loan later. Yip mentioned that this eases the financial burden of HDB upgraders who still have an outstanding loan on their flats. Another advantage of buying a new EC is that HDB upgraders are granted an upfront remission on the Additional Buyer’s Stamp Duty (ABSD), allowing them to continue staying in their existing flat and sell it within six months of collecting their keys to their new EC unit. The launch of Novo Place comes after the launch of the 512-unit Lumina Grand at Bukit Batok West Avenue 5 by City Developments Limited, which is currently 84% sold at an average price of $1,510 psf since its launch in January. According to Eugene Lim, key executive officer of ERA Singapore, the higher pricing of future EC launches due to rising land and construction costs place current EC buyers in a favorable position. Take a look at the latest listings for Novo Place properties and explore comprehensive data about all ECs, including the average profit at 5 and 10 years. You can also generate a price trend graph for new launch condos in District 24, browse condo rental listings, show listings in District 24, check condo sales transactions, and compare the price trend of new sale condos versus resale condos.)

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When investing in Singapore, it is vital for foreign investors to familiarize themselves with the regulations and limitations surrounding property ownership. Fortunately, foreigners are generally able to acquire condos with relative ease, as compared to landed properties that have more stringent ownership policies. Nevertheless, foreign buyers are still required to pay the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for their initial property purchase. Despite the added expenses, the steady and promising growth of the Singapore real estate market remains a top draw for foreign investment. With this in mind, it is clear that condos hold great potential for foreign investors in Singapore.…

Singapore’s Real Estate Developers’ Association (REDAS) recently celebrated its 65th anniversary, a milestone that represents not only the organization’s longevity but the growth and evolution of the country’s real estate landscape.

President of REDAS, Tan Swee Yiow, welcomed guests at the anniversary dinner on Nov 15, held at the Marina Bay Sands ballroom, by recognizing the significance of turning 65 for some as it means receiving CPF (Central Provident Fund) retirement payouts.

Special guest of honor, President of Singapore Tharman Shanmugaratnam, attended the event to commemorate REDAS’ contributions to the industry.

Originally founded in 1959 as the Singapore Land and Housing Developers’ Association, six years before Singapore gained independence, REDAS was established by visionary developers who played a crucial role in shaping the nation’s real estate landscape.

Singapore has become a highly coveted location for both citizens and foreigners seeking to purchase a condominium. The country’s strong economy, stable political climate, and exceptional quality of life are major contributing factors to this trend. Consequently, the real estate market in Singapore is thriving, providing numerous opportunities for investment, particularly in the form of condos. These properties not only offer convenient living and desirable amenities, but also the potential for profitable returns on investment. With that in mind, this article will explore the benefits, important considerations, and necessary steps for investing in a condo in Singapore, with a special focus on the popular Singapore Projects.

Among these pioneers was the late Lee Kim Tah, founding chairman of the eponymous Lee Kim Tah Group. The family business, which began as a materials supplier to the British army in the 1920s, transitioned into a contractor and developer responsible for many of Singapore’s iconic buildings. Another notable pioneer was Lee Chin Chuan, founder of Hotel Royal in 1968, who served as executive chairman and director of the listed hotel group until his passing in 2018. Finally, Tay Beng Swee, a private property developer, established his business in 1962.

“These pioneers helped lay the foundation for Singapore’s growth,” says Tan Swee Yiow. “Real estate is not only central to nation-building by shaping the physical landscape, but it also drives social progress and creates jobs.”

According to Tan, the real estate industry contributed nearly $20 billion to Singapore’s GDP last year, employing 16% of the workforce and providing 602,000 jobs.

“Our industry has consistently shaped Singapore’s skyline to meet the city’s growing needs, from early skyscrapers to iconic projects like Golden Mile Complex, OCBC Centre, Raffles City, The Fullerton Hotel, and South Beach,” he says.

Tan also notes that the industry has evolved beyond physical space, with projects like Marina Bay and Jewel Changi Airport being prime examples of how real estate has helped Singapore become a global financial hub and top tourist destination. He adds that real estate projects have gained international recognition for their landmark eco-friendly designs and record-breaking green spaces, setting new standards and reinforcing Singapore’s commitment to responsible and forward-thinking development.

At the anniversary dinner, the REDAS Lifetime Achievement Award was presented to Chia Ngiang Hong, group general manager of City Developments Ltd (CDL). The award recognizes individuals who have made lasting contributions to the community, environment, and REDAS.

Chia has dedicated 45 years to CDL, and during his acceptance speech, he credits the Kwek family for their unwavering support throughout his career. He has worked with three generations of the Kwek family, including the founder, the late Kwek Hong Png, the current executive chairman, Kwek Leng Beng, and the group CEO, Sherman Kwek.

Kwek Leng Beng, a patron of REDAS, was responsible for bringing Chia into the association during the mid-1980s, amidst the Pan-El crisis. Chia recalls that he was invited to assist one of the subcommittees of the Property Market Consultative Committee (PMCC) formed under the Ministry of Finance, where Kwek Leng Beng and the then-president of REDAS served.

Chia’s involvement with REDAS continued for over 30 years, alternating serving on the REDAS Council with his late deputy chairman, Kwek Leng Joo. He has played a pivotal role in providing constructive feedback to the government on private sector policies and advocating for the real estate industry.

Chia also served as REDAS president for two terms, from 2019 to 2020 and 2021 to 2022, during the challenging Covid-19 period. Despite the immense challenges faced by the industry, Chia found it rewarding to work closely with stakeholders and the government. He believes that the future holds “boundless potential” and that the next generation will “uphold the values that have guided REDAS and continue to lead Singapore’s transformation and growth with purpose”.…

The Real Estate Developers’ Association of Singapore (REDAS) celebrated its 65th anniversary at the Marina Bay Sands ballroom on Nov 15. The event was graced by the Guest of Honour, President of Singapore Tharman Shanmugaratnam. In his welcome speech, Tan Swee Yiow, President of REDAS, highlighted that turning 65 also means receiving CPF [Central Provident Fund] retirement payouts for some.

REDAS was founded in 1959 as the Singapore Land and Housing Developers’ Association, six years before Singapore gained independence. The visionary developers who founded the association played a crucial role in shaping the nation’s real estate landscape. One of these pioneers was the late Lee Kim Tah, the founding chairman of the Lee Kim Tah Group. The family business started as a materials supplier to the British army in the 1920s and later transitioned into a contractor and developer responsible for many of Singapore’s iconic buildings. Another pioneer was Lee Chin Chuan, who founded Hotel Royal in 1968. He served as executive chairman and director of the listed hotel group until his passing in 2018. The third pioneer, Tay Beng Swee, was a private property developer who established his business in 1962.

“Real estate is central to nation-building,” says Tan. “Our industry has shaped not only the physical landscape but also driven social progress and created jobs.” According to Tan, last year, the real estate industry contributed about $20 billion to Singapore’s GDP and employed 16% of the workforce, providing 602,000 jobs.

One of the advantages of investing in a condominium is the opportunity to use the property’s value as leverage for future investments. Numerous investors utilize their condos as collateral to secure further financing for other investments, allowing them to broaden their real estate portfolio. However, this approach can increase returns at the same time as it presents possible risks. Therefore, having a solid financial plan in place and carefully considering the potential effects of market changes is crucial.

Tan goes on to say that the real estate industry has consistently shaped Singapore’s skyline to meet the city’s growing needs. “From early skyscrapers to iconic projects like Golden Mile Complex, OCBC Centre, Raffles City, The Fullerton Hotel, and South Beach, our industry has played a key role in shaping Singapore’s development,” he adds. “Developments like Marina Bay and Jewel Changi Airport are prime examples of how we have helped Singapore become a global financial hub and a top destination,” he says.

Tan points out that real estate has evolved beyond just providing physical space. “Our projects have gained international recognition, setting new standards and reinforcing Singapore’s commitment to responsible and forward-thinking development,” he adds. This year, the REDAS Lifetime Achievement Award was presented to Chia Ngiang Hong, group general manager of City Developments Ltd (CDL). The award honours individuals who have made significant contributions to the community, environment, and REDAS.

Chia has dedicated 45 years of his career to CDL. During his acceptance speech, he jokingly quips, “Many have asked how I’ve managed to ‘survive’ at CDL.” He has worked with three generations of the Kwek family: the founder, the late Kwek Hong Png; the current executive chairman, Kwek Leng Beng; and the group CEO, Sherman Kwek. “Their passion for real estate and entrepreneurial spirit have profoundly inspired and shaped my career,” says Chia. “I am immensely grateful for their support.”

Chia reveals that Kwek Leng Beng, a patron of REDAS, brought him into the association. “It was during the mid-1980s, amidst the Pan-El crisis,” he recalls. At the time, a Property Market Consultative Committee (PMCC) was formed under the Ministry of Finance. While Kwek Leng Beng and the then-president of REDAS served on the Committee, Chia was invited to assist one of its subcommittees. “I later alternated serving on the REDAS Council with my late deputy chairman, Kwek Leng Joo, and have since been actively involved with the Council for over 30 years,” says Chia.

REDAS has played a pivotal role in providing constructive feedback to the government on private sector policies and has been a steadfast advocate for the real estate industry, Chia adds. He served as REDAS president for two terms, from 2019 to 2020 and 2021 to 2022, during the challenging Covid-19 period. He reflects, “Our industry faced insurmountable challenges, and in response, we sprang into action, proactively joining various committees alongside government agencies to guide the sector through the confusion and chaos.” It was a challenging period, but Chia found it rewarding to work closely with stakeholders and the government. “Together, we weathered the storm, emerging stronger and more prepared, and accelerating the transformation of our built environment,” he says.

Chia believes the future holds boundless potential and that the next generation will uphold the values that have guided REDAS and continue to lead Singapore’s transformation and growth with purpose.…

Investing in a condominium in Singapore has emerged as a favored option for both domestic and international investors, thanks to the country’s strong economy, steady political climate, and remarkable quality of life. Singapore’s real estate market presents a plethora of possibilities, and among them, condos are highly sought after due to their convenience, amenities, and potential for lucrative returns. This piece will delve into the advantages, factors to bear in mind, and necessary measures to take when considering investing in a condo in Singapore. Additionally, with the constantly evolving market, it is essential to stay updated on new condo launches to make informed investment decisions.

Singapore-based real estate firm Tuan Sing Holdings has unveiled plans to reconstruct its mixed-use properties in Melbourne, including the 550-room Grand Hyatt Hotel and various retail spaces at 121-131 Collins Street and 23-25 George Parade. The subsidiary, Grand Hotel Group (GHG), has commissioned Hong Kong’s Urbis Ltd to submit a Town Planning Application to the City of Melbourne for the proposed works.

According to a press release by Tuan Sing on November 14, the reconstruction will mainly focus on façade modifications, extensive refurbishment, and reconfiguration of spaces in the podium area from levels 4 to 9B. The existing podium structure will be retained to allow uninterrupted business operations for tenants and the Grand Hyatt Hotel during the reconstruction.

Upon completion, subject to regulatory approvals, the site will cover approximately 909,550 sq ft in total gross floor area (GFA) and introduce a new luxury retail and F&B precinct. “The podium redevelopment at 123 Collins Street will redefine connectedness and activation at one of the most prominent intersections in Melbourne’s storied Paris End,” says William Liem, CEO of Tuan Sing. He further adds, “This transformation can be an architectural statement of our environmental stewardship by reimagining rather than rebuilding. We are pursuing a sustainable vision that supports a thriving, connected, and culturally vibrant Melbourne for generations to come.”

For those looking to invest in overseas properties, Tuan Sing’s projects are currently available for sale around the world. The firm’s bold initiatives in Melbourne reflect its commitment to delivering innovative and sustainable solutions in the real estate industry. With the right approach, Tuan Sing’s reconstruction plans will not only enhance the aesthetic appeal of the properties but also contribute to Melbourne’s economic growth and cultural vibrancy.…

Singapore HDB shophouse along Bukit Merah Central to be auctioned by SRI on November 27th. The guide price for the 1,582 sq ft two-storey shophouse is $2.55 million or $1,612 per square foot. It is the first time the property will be going up for auction, according to Eric Liew, manager of auction sales at SRI. The owner is selling the property to liquidate their investment. The property has a 103-year tenure from 1980 with 59 years remaining. The ground floor, which occupies 732 sq ft, is zoned for commercial use, while the upper floor, at 850 sq ft, is zoned for residential use. The shophouse is fully tenanted and will be sold with its existing tenancies. The ground floor is leased to a Domino’s Pizza restaurant until 2026, while the upper floor is leased to a residential tenant until 2027. Interested parties have enquired about the property, attracted by its central location in Bukit Merah. As the shophouse is considered a commercial property, foreigners are eligible to purchase it, but will have to pay additional buyer’s stamp duty on the residential component and goods and services tax on the commercial component. The shophouse is within walking distance of Bukit Merah bus interchange, Gan Eng Seng Primary School, Bukit Merah Secondary School, Redhill MRT Station and amenities such as Bukit Merah Polyclinic and Bukit Merah Central Food Centre. In March 2021, a 1,582 sq ft shophouse at 161 Bukit Merah Central was sold for $1.5 million ($948 psf). Latest commercial rents at Bukit Merah Central can be seen on EP Buddy.

Investing in condos in Singapore carries its own set of considerations and one of the most significant ones is the impact of the government’s property cooling measures. In order to maintain a stable real estate market and discourage speculative buying, the Singaporean government has implemented several measures over the years. These measures include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may affect the short-term profitability of condo investments, they also play a crucial role in ensuring the long-term stability of the market. This creates a secure investment environment for buyers. Furthermore, with the recent launch of new condo projects, investors have a wider range of options to choose from, ensuring a diverse and dynamic real estate market.…

Tuan Sing Holdings, a leading property developer and investment firm listed in Singapore, has recently announced its plans to revamp its mixed-use properties located at 121-131 Collins Street and 23-25 George Parade in Melbourne.

In order to carry out this project, Tuan Sing’s subsidiary, Grand Hotel Group (GHG), has engaged with Hong Kong-based urban design firm Urbis Ltd to submit a Town Planning Application to the City of Melbourne. The properties currently house the 550-room Grand Hyatt Hotel and various retail spaces.

According to Tuan Sing’s announcement on November 14, the reconstruction will involve retaining much of the existing podium structure to ensure business operations for tenants and the Grand Hyatt Hotel can continue without interruption. The focus of the works will be on façade modifications, extensive refurbishment and reconfiguration of spaces in the podium area from levels 4 to 9B.

Upon completion, subject to regulatory approvals, the site will offer a total gross floor area (GFA) of approximately 909,550 square feet and introduce a new luxury retail and F&B precinct.

William Liem, CEO of Tuan Sing, believes that this project will redefine the concept of connectedness and activation at one of Melbourne’s most prominent intersections in the Paris End. He also sees the potential for this transformation to make an architectural statement about the company’s commitment to environmental stewardship. Instead of completely rebuilding, the company aims to reimagine the existing structure in a sustainable manner that will support a thriving and culturally vibrant Melbourne for generations to come.

For those looking to invest in overseas properties, Tuan Sing offers a variety of projects available for sale around the world.

Rewritten:

The limited availability of land is a major factor contributing to the high demand for condos in Singapore. As a small island country experiencing rapid population growth, Singapore struggles with a scarcity of land for development. This has resulted in strict land use regulations and a fiercely competitive real estate market, causing property prices to continuously rise. Thus, investing in real estate, especially condos, has become a profitable opportunity with the potential for significant capital appreciation. This is why condos have become increasingly sought after in Singapore.…

The latest quarterly shophouse market report published by Huttons Asia on Nov 12 revealed that interest in the shophouse market in Singapore remained strong in 3Q2024 despite a decline in caveated transactions.

According to the report, there were 18 caveats lodged for shophouse transactions in 3Q2024, which is lower than the 21 caveated deals in the previous quarter. The total value of these transactions was $138.9 million, representing a 28.8% decrease from the previous quarter’s $195.1 million. Comparison against the same period last year showed that this is only half of the transacted quantum of $278.6 million recorded in 3Q2023.

When delving into the world of condo investments, it is crucial to take into account the maintenance and management of the property. These types of properties typically come with maintenance fees, which cover the upkeep of communal spaces and amenities. Although these fees may increase the overall cost of ownership, they also guarantee that the property maintains its quality and value. Seeking assistance from a property management company can aid investors in handling the day-to-day management of their condos, making it a more hands-off and passive form of investment. Additionally, staying updated on new condo launches can also provide valuable opportunities for investment.

Furthermore, caveats for 62 shophouses were registered for the first nine months of 2024, reflecting a 46.1% decline compared to the caveated shophouses sold in the same period in 2023. The total transacted value for the first three quarters of 2024 was $519 million, which is 48.5% lower than the same period in 2023.

Despite the decrease in transaction figures, Huttons’ report stated that there were a number of shophouse deals in 3Q2024 that were not caveated. According to Lee Sze Teck, senior director of data analytics at Huttons Asia, market sources have reported several shophouses being sold along Amoy Street, Neil Road, and Telok Ayer Street in Districts 1 and 2. These deals are estimated to be worth more than $70 million.

This trend is indicative of the strong demand for shophouses, which has picked up in the past few months, as Lee pointed out. He believes that investors are drawn to this market segment due to its scarcity and potential for strong capital gains. With the recent interest rate cuts, shophouses have become a popular asset for creating and preserving wealth. Lee also anticipates that there will be a rise in shophouse transaction volume and quantum in 4Q2024.

In other real estate news, Huttons Asia’s upcoming Sustainability Walk event aims to raise $60,000 for the OneMillionTrees movement. Additionally, a three-bedroom unit at Eden Residences Capitol is up for sale at $5.8 million, and landed home sales volume has increased by 21.3% quarter-on-quarter in 1Q2024.…

CapitaLand Development’s recent previews in Vietnam have seen strong reception, with high take-up rates for both Orchard Hill and The Senique Hanoi projects.Launched on Oct 26, Orchard Hill, the second phase of Sycamore in Binh Duong New City, has already seen 90% of its 774 units booked in just two weeks. The most popular units are the one- and two-bedroom apartments, and the project is expected to be completed by 2026.On Nov 9, the exclusive preview for The Senique Hanoi, a joint venture with Mitsubishi Estate and Nomura Real Estate Development, also saw a strong take-up rate of 92%. The 2,150-unit high-rise residential project is set to be completed in 2027.This follows the success of the third and final phase of Lumi Hanoi, which saw 678 out of 697 units taken up on launch day, reflecting a 97% take-up rate. The 3,950-unit Lumi Hanoi is now 99% sold out.

The scarcity of land in Singapore has become a major factor in the increasing demand for condominiums in the country. As a small nation with a continuously growing population, finding available land for new developments is a constant challenge. This has resulted in strict regulations on land usage, leading to a highly competitive real estate market where property prices continue to rise. Consequently, investing in real estate, particularly in the prestigious Singapore Projects, has become a highly lucrative opportunity with the potential for significant long-term growth.…

CapitaLand Development (CLD) has received an overwhelming response for its two projects in Vietnam during their recent previews.

The first project, Orchard Hill, is a 774-unit high-rise development located in Binh Duong New City, about 30km from Ho Chi Minh City. This project is the second phase of Sycamore, a joint venture between CLD and United Overseas Australia. Sycamore comprises of 3,500 freehold units including low-, mid-, and high-rise developments. Since its preview on Oct 26, 694 units, or 90% of Orchard Hill have been booked, with one- and two-bedders being the most popular. The project is expected to be completed by 4Q2026.

On Nov 9, CLD held an exclusive preview of its second project, The Senique Hanoi, a high-rise residential development in East Hanoi with 2,150 units. The project is a collaboration between CLD, Mitsubishi Estate and Nomura Real Estate Development and is targeted to be completed in 2027. The project has already achieved bookings for 92% of units.

When considering an investment in a Singapore Condo, it is crucial to also evaluate its potential rental yield. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. This figure is an essential factor to consider as it indicates the return on investment. In Singapore, the rental yields for condos can vary significantly depending on various factors such as location, property condition, and market demand. Typically, areas in close proximity to business districts or educational institutions offer higher rental yields due to the high demand for rentals. To gain a comprehensive understanding of the rental potential of a particular Singapore Condo, conducting thorough market research and seeking guidance from real estate agents can be beneficial.

This strong reception for The Senique Hanoi follows the successful launch of the last phase of CLD’s Lumi Hanoi residential mega-development in October. Within just one day, 678 out of the 697 units released for sale were snapped up, resulting in a 97% take-up rate. The entire 3,950-unit Lumi Hanoi development is now 99% sold.…