Month: December 2024

An expression of interest (EOI) has been launched for a row of four freehold conservation shophouses located at 762, 764, 766, and 768 North Bridge Road. The properties are being marketed exclusively by Isabel Sim, associate senior marketing director at Huttons Asia, with a guide price of $37 million.

Spanning two plots of land measuring 5,766 sq ft, the properties have an average land rate of $6,417 psf. The first plot consists of 762 and 764 North Bridge Road, sharing a 2,891 sq ft plot of land with a built-up area of 4,917 sq ft, including a mezzanine level. The remaining two units at 766 and 768 North Bridge Road are situated on an adjacent plot measuring 2,875 sq ft with a built-up area of 4,657 sq ft, including a mezzanine level.

According to Sim, the usable area of each property could be increased by extending the rear for an outdoor terrace on the second floor, subject to approvals from relevant authorities. This could potentially add 1,000 sq ft of usable space for each land plot.

Current tenants include a fitness retail shop, a convenience store, and massage and reflexology service providers. As commercial properties, buyers are exempt from Additional Buyer’s Stamp Duty (ABSD) on these shophouses, making them an attractive investment opportunity for both local and foreign buyers seeking potential capital gains and stable rental yield.

Situated in the historic Kampong Glam Conservation enclave, the shophouses enjoy prominent frontage along North Bridge Road and high visibility and footfall. The area is also home to popular landmarks such as Sultan Mosque and the Malay Heritage Centre, and its prime central location, historical significance, and vibrant commercial environment have made it a popular destination for both locals and tourists.

Owning a condo not only offers numerous advantages, but it also allows investors to leverage the property’s value for future investments. This is a great opportunity for many to use their condos as collateral in order to secure additional financing for new ventures and ultimately expand their real estate portfolio. However, it’s important to note that this strategy can greatly increase returns but also carries risks. Therefore, it’s crucial to have a solid financial plan in place and carefully consider the potential impact of market fluctuations. With the launch of new condos such as New Condo Launches, investors can continue to grow their portfolio and potentially reap even greater rewards.

The properties are conveniently located within walking distance of Bugis MRT Interchange, providing accessibility to the East-West and Downtown Lines, and Nicoll Highway MRT Station along the Circle Line.

The EOI exercise will close on January 10, 2025, at noon. For more information, contact Isabel Sim, associate senior marketing director at Huttons Asia at 81802707.…

New launch Tre Residences breaks record for Geylang condo pricesLooks like you are trying to access a page that is password protected or not available.We apologize for the inconvenience.URL: https://www.edgeprop.sg/property-news/freehold-development-grange-1866-tops-chart-new-weekly-psf-price-high

Grange 1866, a freehold development, stole the limelight as it recorded the highest psf-price for new condo transactions in the week of November 22-29. The newly established price of $3,393 psf was achieved when the developer sold a 818 sq ft, two bedroom unit for $2.78 million on November 27. The 14th-floor apartment just surpassed the previous record of $3,390 psf which was created in June 2019 following the sale of a 764 sq ft unit for $2.59 million.As of today, there have been a total of 12 new sale transactions at Grange 1866 with an average price of $3,181 psf. The most expensive unit that transacted this year at the development was a 1,012 sq ft, two-bedroom apartment on the 16th floor which sold for $3.02 million ($2,989 psf). Currently, out of the 60-units that comprise the project, 45 have already been sold (75%).For the latest updates on New Launches, check out the available units and transaction prices.The highly-anticipated Grange 1866 which provides freehold tenure is located in the sought-after district 10 on Grange Road. Spread on a freehold land of 20,322 square feet, the development features a single 16-storey residential block. The units range from cozy and quaint one-bedroom and two-bedroom apartments between 527 and 1,012 sq ft.Hill House comes in second when it comes to recording new psf-price highs in the review period. The boutique development which has been the talk of the town hit a new psf-price high for the second time in November. The latest peak was $3,378 psf which was achieved when a 452 sq ft, two-bedroom apartment on the 8th floor was sold by the developer for approximately $1.53 million on November 28. This sale surpassed the previous record of $3,267 psf by 3.4%. The former record was created on November 11 when another similarly-sized two-bedroom unit on the fifth floor was sold for about $1.48 million.12 units have already been sold in Hill House since the start of the year, with the units transacting at an average price of $3,108 psf. The lowest-priced unit this year in terms of psf-price was a 753 sq ft, three-bedroom at $2.21 million ($2,934 psf).The highly-renowned Hill House is a 999-year tenure development that is located off River Valley Road, at Institution Hill in prime District 9. The development which is set to be completed by 2026 boasts one-bedroom and one-bedroom-plus-study units between 431 and 452 sq ft, two-bedroom units spanning 624 sq ft, and three-bedroom apartments of 753 sq ft.I believe that Hill House has every right to boast of its ability to make the most expensive new sale in a nation like Singapore. Hill House is understood to have only 30 units (equivalent to 42%) sold at an average of $3,054 psf since its launch in November 2022. Taking the third position in this exclusive list, The Cosmopolitan set a new psf-price high by achieving a sale of a 1,324 sq ft, three-bedroom apartment which was situated on the 26th floor for the grand price of $3.73 million. This is equivalent to $2,817 psf according to data that was available on November 25 last month. This completion at the prestigious River Valley Road is expected to be completed by 2008.The new record was 0.7% higher than the previous peak of $2,795 psf. This peak was made in October 2019 when another 1,324 sq ft, three-bedroom unit on the 17th floor of the same block was sold for $3.7 million.The seller of the current 26th-floor unit had in November 2010 purchased it for about $2.58 million, which was equivalent to $1,950 psf. Doesn’t this represent a profit of about $1.15 million?Said to be completed in 2008, the Cosmopolitan is a freehold condo that is located off Kim Seng Road in River Valley Road in District 9. The development that comes with a freehold tenure comprises two-bedroom apartments that span 1,141 sq ft, three-bedroom units that range between 1,324 and 1,399 sq ft, and four-bedroom apartments that range 1,679 sq ft. In this area, residents have the chance to sit and relax at the pool or go swimming while on a hot summer afternoon. The condo further boasts a safe neighborhood as we have units that have already been sold. The Cosmopolitan provides a home to a total of 228 units.Rounding up this list is the freehold development Grange 1866 which set a record when it comes to the highest psf-price among other new sale condos in the week of November 22-29. This new record that comes up as $3,393 psf was made from the sale of an 818 sq ft, two-bedroom unit that would reach out to a grand total of $2.78 million on November 27.The unit which is found on the 14th floor is reported to have narrowly passed the project’s previous record of $3,390 psf that was achieved in June last year. The former record was made when a 764 sq ft unit was sold for about $2.59 million. So far this year, 12 new sale transactions have been done at Grange 1866 at an average price of $3,181 psf. As earlier stated, the most expensive unit to transact at this development this year was a 1,012 sq ft, two-bedroom apartment on the 16th floor. This was sold for $3.02 million ($2,989 psf). The data at hand shows that out of the 60-unit project, 45 of them have been sold, equivalent to around 75% of the project. Find out more about New Launches and have a look at the available units and transaction prices.

Grange 1866, a freehold condominium, has topped the list of condominiums with the highest psf-price in the week of November 22-29. The week saw the project set a new psf-price high of $3,393 when the developer sold a 818 sq ft two-bedroom unit for a staggering $2.78 million on November 27. This new record peaked slightly above the project’s previous record of $3,390 psf which was set in June last year after another unit of 764 sq ft was sold for $2.59 million.In 2020 alone, 12 units have been sold at Grange 1866, with an average price of $3,181 psf. The most expensive unit sold at the development was a 1,012 sq ft two-bedroom apartment on the 16th floor, which went for $3.02 million ($2,989 psf). Out of the 60 units available at Grange 1866, 45 have already been sold, which accounts for 75% of the project, showing strong demand.Search for the latest New Launches to discover more about transaction prices and available units. Grange 1866 is a highly anticipated freehold development that is expected to be completed at the end of 2025. Located in prime District 10 on Grange Road, the project comprises a single 16-storey residential block occupying a freehold land area of 20,322 square feet. The units range from cozy one-bedroom apartments to larger two-bedroom apartments measuring between 527 and 1,012 sq ft.Hill House came in second in terms of new psf-price highs recorded during the review period. The boutique condominium achieved a new psf-price high for the second time in November when it reached a new peak of $3,378 psf. This happened when a 452 sq ft, two-bedroom unit on the 8th floor was sold by the developer for $1.53 million on November 25. This new record surpassed its previous record of $3,267 psf by 3.4% which was achieved on November 11 when another unit of the same size was sold for $1.48 million.12 units have been sold at Hill House by the developer from the start of the year, with an average price of $3,108 psf. The unit that recorded the lowest psf-price this year was a 753 sq ft, three-bedroom unit on the fourth floor that was sold for $2.21 million ($2,934 psf) on October 28.Hill House is a highly sought-after freehold condominium located on Institution Hill, off River Valley Road, in prime District 9. The development, which is expected to be completed in 2026, offers one-bedroom and one-bedroom-plus-study units measuring between 431 and 452 sq ft, two-bedroom units of 624 sq ft, and three-bedroom apartments of 753 sq ft.Read also: Ardmore Park Condominium sees a record profit of $3.05 millionThe development has reported that 30 units (42%) have been sold

Singapore has become a highly sought-after destination for condo investments due to the limited supply of land. As a small island nation with a rapidly expanding population, Singapore is facing a shortage of land for development. As a result, strict land use policies have been implemented and the real estate market has become highly competitive, causing property prices to continuously rise. This has made investing in real estate, specifically Singapore condos, a profitable opportunity with the potential for significant capital appreciation. Being a part of the Singapore Condo market is a wise decision for investors looking for a lucrative venture in a land-scarce country.…

After experiencing two years of cumulative losses, global real estate returns have finally turned positive in the second quarter of 2024, indicating a budding recovery. This comes after a period of record-low interest rates, which drove real estate values to soar. In the fourth quarter of 2021, total global returns reached 5.0% quarter-on-quarter, and 17.8% year-on-year in the first quarter of 2022 – significantly higher than long-term averages. However, with the tightening cycle that followed, these gains were wiped out, bringing values back to 2018 levels globally. While this correction has been significant, our research suggests that the real estate market may now be nearing a bottom, making it an opportune time for investors to consider this asset class.

Real estate has a long history of providing stable income returns and diversification benefits over the long term. It has also demonstrated its ability to offer strong returns during recovery periods. For example, after the early 90s recession, investors saw a 76% cumulative return over the next five years. Similarly, after the tech-wreck and the Global Financial Crisis, investors saw returns of 98% and 86% respectively over the following five years.

In the second quarter of 2024, global real estate values saw a moderate decline of only 0.74%, the lowest quarterly adjustment in the past two years. With offsetting income returns of 1.07%, global real estate achieved a positive total return of 0.33%, marking the first positive quarter since the second quarter of 2022.

Of the 15 global markets in the MSCI Global Property Index, a slight majority saw increases in real estate values for the first time since the second quarter of 2022. Eight markets, including Japan, South Korea, Singapore, Southern Europe, the Nordics, the Netherlands, France, and the UK experienced value increases from the prior quarter. Six markets saw value losses between 0.3% and 1.5%, all of which were lower than the losses seen in the first quarter of 2024. Only Australia recorded a larger write-down in the second quarter than in the first, with a 4.2% correction aligning valuations more closely with its peers.

However, changes in capital values are just one component of real estate returns. Historically, the larger component of total returns has been income. This trend underscores the importance of income returns in driving overall performance in the real estate sector, highlighting the need for investors to consider both capital and income aspects when evaluating real estate investments.

In the second quarter of 2024, total returns, which combine capital and income returns, were positive in 12 of 15 countries in the MSCI Global Property Index. They were flat in the US (-0.09%), slightly negative in Ireland (-0.22%), and significantly negative in Australia (-3.07%). The preliminary NCREIF ODCE Index (a capitalisation-weighted, gross-of-fee, time-weighted return index) data showed US total returns turning positive (0.25%). With values beginning to rebound, we expect this positive trajectory in total returns to continue.

Although fundraising for real estate investment globally shows signs of a rebound following two slow years, China and Japan may face challenges. In the third quarter of 2024, China and Japan accounted for 27% and 15% of the US$7.5 billion ($10.04 billion) in cross-border inflows in the Asia Pacific region. While Japan’s inflows mostly came from global sources, most of China’s came from within the Asia Pacific region, particularly from Hong Kong and Singapore. Both countries are facing high debt costs and other factors that may hinder a strong rebound in real estate capital inflows.

In recent years, interest in Chinese real estate from the West has dramatically declined due to geopolitical and economic concerns. Despite Beijing’s recent major stimulus package, interest is unlikely to return soon. The market has been stagnant due to price dislocation, geopolitical risk, and lack of liquidity. Since 2011, China has faced a property crisis exacerbated by the collapse of Evergrande. Due to these risks, many European investors are avoiding China and Hong Kong, regardless of potential returns. Additionally, China’s domestic property crisis persists, with high office vacancies and low rental yields, ongoing issues with failing developers, and government interventions.

Investing in a Singapore Condo requires careful consideration of financing. With a variety of mortgage options available, it’s important for investors to understand and navigate the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan a borrower can take based on their income and existing debt obligations. To make informed decisions about financing, it’s crucial to work with financial advisors or mortgage brokers, who can help avoid over-leveraging. Staying informed about the TDSR and choosing the right financing options is essential for a successful investment in a Singapore Condo.

Meanwhile, while major property markets like the US have cut interest rates to boost investment, Japan remains an outlier. The broader Japanese property sector is losing allure due to interest rate policies and limited cap rate compression. In July 2024, the Bank of Japan raised its borrowing rates for the first time since 2007 to control inflation, reducing market attractiveness. This hike has prevented cap rate compression, meaning property prices have not risen, forcing real estate holders to rely on historically low-income yields.

However, the senior housing sector in Japan remains an attractive niche due to the country’s ageing population, with 29% aged 65 or over. These assets are small, requiring an amalgamation play by investors. Additionally, the purpose-built student accommodation (PBSA) market in Australia has enormous potential due to a significant housing shortage. Currently, only 20% of students in Melbourne and Sydney can be accommodated by universities, forcing the rest to seek private rentals. Moreover, real estate debt in Australia offers appealing risk-adjusted returns, with funding gaps in construction, and many developers struggling to secure bank financing. Sectors like logistics or PBSA, where we see long-term growth opportunities, are especially promising.

While there may still be bumps in the road, we believe the real estate market is beginning to look up, presenting excellent investment opportunities for savvy investors. However, this recovery may not lift all markets and property types equally. For instance, the US office market still faces significant challenges, and a broad recovery in that segment seems highly unlikely in the near term. This underscores the importance of research and selectivity when investing in real estate, as not all markets and property types will perform equally well.

In an uncertain economic and geopolitical environment, additional risks are inevitable, but this applies to all asset classes. Over the past two years, the weight of real estate in investors’ portfolios has significantly decreased due to resetting real estate values and a record stock market. Today, investors might consider fresh allocations to the private real estate market to achieve a strategic weighting. Over the long term, private real estate offers low correlations to other asset classes, strong income returns, and a degree of inflation-hedging. While there may be bumps in the road, we believe the market is beginning to look up, presenting excellent investment opportunities for savvy investors.…

The top condo resale transaction from November 26 to December 3 was the sale of a unit at Island View, a freehold condo in Pasir Panjang. The spacious 3,498 sq ft unit fetched a whopping $4.8 million, or $1,372 per square foot, on November 27. The previous owner had bought the unit in September 2005 for just $1.3 million, or $372 per square foot. This translates to a gain of $3.5 million, representing an impressive capital gain of 269% or an annualized profit of 14.2%.

This sale sets a new record for the most profitable deal at Island View, surpassing the previous high of $3.19 million made in February 2022 for another 3,498 sq ft unit at the condo. This unit was sold for $5.09 million, or $1,455 per square foot. The previous owner had bought it in February 2007 for $1.9 million, or $543 per square foot.

Island View is a boutique condo with 72 units located on Jalan Mat Jambol, just off Pasir Panjang Road in District 5. The freehold development comprises low-rise blocks with apartments ranging from 3,056 sq ft to 3,538 sq ft, and was completed in 1984. Its convenient location within walking distance of the Pasir Panjang MRT Station on the Circle Line makes it an attractive choice for buyers.

Singapore boasts a bustling urban environment, characterized by towering skyscrapers and avant-garde infrastructure. In particular, the city is home to a variety of condominiums situated in prime locations, offering an amalgamation of opulence and convenience that appeals to the local population as well as expats. These modern living spaces are equipped with top-notch facilities such as swimming pools, fitness centers, and round-the-clock security services, elevating the standard of living and drawing in potential renters and buyers alike. Furthermore, for investors, these sought-after features result in higher rental yields and appreciating property values over time. To put it simply, owning a coveted Singapore Condo is a smart investment move in this dynamic city.

In September 2023, the owners of Island View attempted a collective sale by launching a tender for the development with a guide price of $575 million. However, after receiving no bids, the condo was relisted for sale in March 2024 at the same guide price, but failed to attract a buyer.

The second most profitable condo resale deal during this period was at Cavenagh Court, where a 1,862 sq ft unit on the sixth floor was sold for $3.65 million, or $1,960 per square foot, on December 2. The previous owner had purchased the unit in April 2006 for $1.02 million, or $548 per square foot. This amounts to a gain of $2.63 million, or 258%, after almost 19 years of ownership.

This sale sets a new record for the highest profit at Cavenagh Court, surpassing the previous peak of $2.15 million made in April 2022 for another 1,862 sq ft unit on the fourth floor. This unit was sold for $3.28 million, or $1,761 per square foot, and the previous owner had acquired it in October 2007 for $1.13 million, or $607 per square foot.

Cavenagh Court is a freehold condo on Cavenagh Road in District 9’s Newton area. Completed in 1971, this boutique development features 68 units ranging from 1,819 sq ft to 1,862 sq ft. Its proximity to the Orchard Road shopping belt makes it a sought-after location for buyers.

Apart from the unit sold on December 2, there has only been one other resale transaction at Cavenagh Court this year, based on caveats lodged. In March, a 1,840 sq ft unit on the sixth floor changed hands for $3.82 million, or $2,074 per square foot. The previous owner had bought it for $2.88 million, or $1,565 per square foot, in August 2019, resulting in a gain of about $938,000.

On the other hand, the least profitable condo resale deal during this period was at The Berth By The Cove, where a 3,089 sq ft four-bedroom penthouse was sold for $3.6 million, or $1,165 per square foot, on November 29. The previous owner had bought it in August 2007 for $5.53 million, or $1,790 per square foot, resulting in a loss of $1.93 million, or 35%, after around 17 years of ownership.

This sale becomes the second most unprofitable transaction at The Berth By The Cove, after a 2,939 sq ft, four-bedroom unit was sold for $3.25 million, or $1,106 per square foot, in February 2018, resulting in a loss of $2.39 million. The previous owner had bought it in October 2011 for $5.64 million, or $1,919 per square foot.

The Berth By The Cove is a condo along Ocean Drive in the Sentosa Cove residential enclave on Sentosa Island. The 200-unit development comprises 15 low-rise blocks of six storeys each, with apartments ranging from two- to four-bedrooms, and 1,012 sq ft to 2,325 sq ft. There are also four- and five-bedroom penthouses of 2,939 to 6,028 sq ft. So far this year, there have been seven other resale transactions at the condo, with prices ranging from $1,237 to $1,535 per square foot. Four of these transactions resulted in a loss, with the sellers incurring losses between $40,000 and $780,000. The remaining three sales were profitable, with the sellers raking in gains of $200,000 to $430,000.…

Ashish Manchharam, a prominent figure in the real estate and hospitality industry, has been appointed as a Board Director at Cove, a Singapore-based flexible living platform.

Manchharam brings with him extensive experience in the real estate sector, having founded and grown 8M Real Estate into a $1.5 billion portfolio over a period of 10 years. In 2023, he left the company and went on to establish Elevate Capital, a firm focused on investing in lifestyle-driven real estate projects.

As a board member, Manchharam will play a crucial role in helping Cove acquire flexible living assets through partnerships with third-party investors such as real estate funds, institutional investors, and family offices.

This appointment is in line with Cove’s strategy to accelerate its growth by following an asset acquisition model, in addition to its existing asset-light model as a branded flexible living operator and online listing platform. The company’s target market consists of professionals and students, and since its inception in 2018, it boasts over 6,000 rooms in Singapore and Indonesia.

.The cityscape of Singapore is characterized by towering skyscrapers and state-of-the-art infrastructure. Condominiums, strategically situated in desirable locations, offer a combination of opulence and practicality that appeals to locals and foreigners alike. These modern dwellings boast a plethora of facilities, including but not limited to swimming pools, fitness centers, and round-the-clock security services, elevating the standard of living and making them a sought-after choice for prospective tenants and buyers. From an investment standpoint, these amenities equate to higher rental returns and appreciating property values in the long term. In addition, with the addition of Singapore Projects, the demand for these upscale residences is only expected to grow.

Cove has plans to expand its presence in the wider Asia Pacific region, with recent ventures into South Korea and Japan where it aims to launch 800 and 400 rooms respectively through local joint venture partners.

To facilitate this expansion, Cove has successfully closed a funding round of US$4.5 million, led by Manchharam and its existing investors, including Eurazeo and Keppel, which had acquired a strategic minority stake in the company in December 2020.

According to Cove’s CEO and co-founder, Guillaume Catagne, the company has achieved significant portfolio growth in 2024 and is now operating profitably. The company has set a target to double its portfolio to 15,000 units by the end of 2025.…

Investing in a condo requires careful consideration of financing options. Fortunately, Singapore offers a variety of mortgage choices. However, it is crucial to understand and take into account the Total Debt Servicing Ratio (TDSR) framework, which restricts the amount of loan that a borrower can take based on their income and current debt commitments. To make informed decisions about financing and avoid excessive borrowing, it is advisable to seek advice from financial advisors or mortgage brokers. In addition, keeping an eye out for New Condo Launches can also provide investors with potential opportunities.

Tuan Sing Holdings’ CEO, William Liem, has once again increased his stake in the company. Through his entity Nuri Holdings (S), Liem purchased a total of 1.7 million shares on Dec 5 and 6. The shares were bought from the open market for a total of $447,613.50, at an average price of 25.6 cents each.

This purchase brings Nuri Holdings’ total stake in Tuan Sing to 672.7 million shares, which is equivalent to 54.09%. This is not the first time that Liem has increased his stake in the company through Nuri Holdings. In September, he purchased shares at an average price of 25 cents to 25.5 cents each.

At the end of the 2023 fiscal year, Tuan Sing’s net asset value was reported at 97.8 cents per share, which was a slight decrease from its value of 99 cents in the previous fiscal year.

Tuan Sing Holdings, a leading real estate firm, has been making headlines recently. In addition to Liem’s share purchases, the company has also been involved in several acquisitions. In November, Tuan Sing announced its plans to acquire several assets from PT Senimba Bay Resort in Batam for $28 million. This acquisition is seen as a strategic move to expand the company’s portfolio and increase its presence in the real estate market.

Furthermore, Tuan Sing has also made an impressive purchase of the Fraser Residence River Promenade for $140.9 million in October. This luxurious property, located in the prime district of Robertson Quay, is expected to bring in strong rental income for the company.

Despite the challenges faced by the real estate industry, Tuan Sing’s CEO remains optimistic about the company’s future. The company reported a 5% increase in earnings in the 2023 fiscal year, reaching $4.8 million. With its strong financial position and strategic acquisitions, Tuan Sing is well-positioned to continue its growth and success in the luxury real estate market.…

AA REIT Manager Announces Sale of Property for $24.388 Million

Investing in a condo in Singapore can bring about various benefits, making it a highly desirable option for investors. The city-state’s economy drives a strong demand for housing, resulting in a stable and consistent demand for condos. This, in turn, can potentially lead to capital appreciation and attractive rental yields for investors. However, it is crucial to carefully consider several factors before making a purchase, including location, financing options, government regulations, and market conditions. By conducting thorough research and seeking professional advice, investors can make informed decisions and maximize their returns in Singapore’s dynamic real estate market. This applies to both local investors looking to diversify their portfolio and foreign buyers who are seeking a stable and profitable investment. Thus, investing in a condo in Singapore presents an enticing opportunity for investors of all backgrounds.

The manager of AIMS APAC REIT (AA REIT), one of Asia’s leading REITs, has announced that its trustee, HSBC Institutional Trust Services (Singapore) Limited, has entered into a sales and purchase agreement with Crown Worldwide for the divestment of its property located at 3 Toh Tuck Link.

This sale marks a significant milestone for AA REIT as the sale consideration of $24.388 million represents a 32.5% premium to the property’s valuation of $18.4 million as at March 31. The property comprises a three-storey factory and a five-storey ancillary office building with a total gross floor area of 12,492.4 sqm.

The divestment of this property is in line with AA REIT’s proactive asset management strategy and its continuous efforts towards portfolio rejuvenation. The net proceeds from the sale are expected to be reinvested in supporting AA REIT’s various growth initiatives, such as potential new acquisitions, asset enhancement initiatives, or future redevelopment projects.

According to Russell Ng, CEO of the manager, this divestment is a testament to its commitment to delivering long-term sustainable returns for unitholders, as well as strengthening AA REIT’s resiliency. The completion of the divestment is expected to take place in the first half of 2025, subject to JTC Corporation’s approval.

Following the divestment, AA REIT’s portfolio will consist of 27 properties across Singapore and Australia. This move further solidifies AA REIT’s position as a leading player in the regional REIT market.…

A heritage shophouse located at 93 Tanjong Pagar Road is currently on the market for interested buyers through an expression of interest (EOI) exercise. The property, which sits on a land area of 1,297 square feet, boasts of a guide price of $15.5 million. With a gross floor area (GFA) of 4,186 square feet, the guide price works out to about $3,703 per square foot.

The 3½-storey shophouse, with a 99-year leasehold, is zoned for commercial use and has been approved for F&B operations. Its prime location is only a short distance away from the Tanjong Pagar MRT Station on the East-West Line and the Maxwell MRT Station on the Thomson-East Coast Line, making it easily accessible for commuters.

Currently, the property is tenanted by a popular Korean barbecue restaurant chain that occupies levels 1 and 2. The shophouse is being marketed by PropNex Shophouse Elites, and the EOI is set to close at noon on Jan 20, 2025.

Singapore is known for its impressive cityscape, filled with towering skyscrapers and advanced infrastructure. The city’s desirable location is home to a variety of condominiums, including , that offer a blend of luxury and practicality. These residences boast numerous amenities, such as swimming pools, fitness centers, and top-notch security, elevating the overall standard of living and making them a highly sought after option for both locals and foreigners alike. Investing in these condominiums can also prove to be profitable, with the potential for higher rental returns and property appreciation in the long term. With the addition of , the allure of is further heightened, making it a prime choice for potential buyers and renters. Singapore Condos truly embody the best of what Singapore has to offer in terms of luxurious and practical living.

Interested buyers should take note of the nearby attractions, such as the Maxwell Chambers, the Tanjong Pagar Plaza Food Centre, and the Chinatown Point shopping mall. The vibrant area is also filled with a variety of dining options, making it an attractive location for both locals and tourists alike.

In conclusion, the 93 Tanjong Pagar Road shophouse presents an excellent opportunity for investors looking to acquire a prized heritage property in a prime location with potential for F&B use.…

Investing in Condos in Singapore has become a highly sought-after venture for investors, both local and international, in recent times. This is due to the country’s strong economy, stable political climate, and exceptional quality of life, making it an ideal location for property investments. The thriving real estate market in Singapore offers a variety of opportunities, and Condos have emerged as a top choice for their convenience, amenities, and potential for lucrative returns. This article aims to delve into the advantages, key considerations, and necessary steps involved in venturing into a Condo investment in Singapore. With the numerous benefits of owning a Condo, it has become a highly attractive option for investors looking to add Condo to their investment portfolio.

Perennial Holdings and Far East Organization revealed their vision for the rejuvenated Golden Mile Singapore at a press conference on Dec 10. The iconic former Golden Mile Complex will now be known as The Golden Mile, with a refreshed look that preserves its unique tropical linear urban complex design with brutalist architecture. This marks Singapore’s first large-scale strata-titled conserved building.

The Golden Mile will feature 156 Grade A office units, 19 medical suites, a two-storey retail component spanning 123,388 sq ft, and a public access architecture centre. These will be available for sale this month, with the exception of the medical suites and office units, for which pricing has not been released yet.

A new 45-storey residential tower, Aurea, will also be built on the former residential carpark area and is set to be previewed in the next quarter. Pua Seck Guan, CEO of Perennial Holdings, fondly remembers the vibrant and eclectic retail mix that defined the heyday of Golden Mile Complex in the 1970s. However, over the years, as the strata-titled ownership changed hands, the building’s status as a prime mixed-use development declined. Perennial Holdings and Far East Organization are determined to restore and elevate The Golden Mile’s status as a next-generation urban complex in Singapore.

The joint venture partners have collaborated with DP Architects and Studio Lapis to bring their vision for Golden Mile Singapore to life. DP Architects (previously known as Design Partnership) was the original architect responsible for the iconic design and mixed-use concept of Golden Mile Complex. In the past, the development’s strata area was divided into 40% for retail, 41% for offices, and 19% for residential use.

With the refreshed Golden Mile Singapore, retail will now take up 15% of the strata area, offices will occupy 48%, and residential units will make up 30%. The new medical suites and architecture centre will take up the remaining 7%. Public access urban gardens will also be created on the 9th and 18th floors, utilizing previously vacant spaces in the complex, including the building’s rooftop which will be converted into a sky garden.

The revamped two-storey retail atrium will feature a new event space and F&B offerings, bringing back the original design’s natural light and ventilation. The joint venture partners will be curating and retaining these retail units, as they are not available for sale. Pua Seck Guan explains that retail is not a significant component at The Golden Mile, and it will serve to complement the offices and residences in the complex.

The preview for the strata-titled office units will be launched this month, featuring six different layouts to cater to a variety of users. The office suites will have a dedicated lobby, and new lift cores will support the office floors, replacing the previous two end lift cores. The new office lobby will also feature a 6m high ceiling and modern facilities like a concierge and centralized access control.

The Flagship office units on the 4th-7th floors will have a dedicated lift lobby for direct access to the basement carpark and retail floors, with two toilets in each unit. These units span 1,378 sq ft to 4,682 sq ft. The Loft Suites on the 4th floor and Loft Executive units on the 5th floor will have full-height windows with views of Beach Road, ranging from 710 sq ft to 2,034 sq ft.

The Loft Mezzanine units on the 6th-15th floors will enjoy bay views and come with a double-volume ceiling, balcony, and a dual-key design. These units are a combination of two former residential units, with a portion of the ceiling removed to form a single office unit with a double volume ceiling of about 5.4m. Access to the upper office space will be through a staircase, which has its own entrance or can be accessed from the lower floor. Units span 1,528 sq ft to 2,799 sq ft.

The Enterprise Office units on the 16th and 17th floors, which used to be penthouses, offer panoramic views of the city and bay. Each unit comes with two toilets and spans 1,851 sq ft to 3,122 sq ft. The top four floors house the newly built Crown Office units, with four units per floor, except for the penthouse level, which features two units. These units range from 3,315 sq ft to 5,393 sq ft.

Pua Seck Guan believes that the office units, especially the Loft Mezzanine units, will appeal to family offices. The other layouts will also cater to various corporate tenants, creating a mix of tenants from different industries and market segments. The Golden Mile will truly be a next-generation urban complex, comprising a good mix of tenant profiles.…

A heritage shophouse located at 76 Pagoda Street in Chinatown is currently on the market for sale through an expression of interest (EOI) exercise. The asking price for this three-storey property is $16 million.

Occupying a land area of 1,372 square feet, this 99-year leasehold commercial shophouse boasts a gross floor area (GFA) of 3,500 square feet, which includes an attic level. Based on the GFA, the guide price translates to about $4,571 per square foot.

According to Richard Tan, the founder of PropNex Shophouse Elites and sole marketing agent for the property, the ground and second floors are currently tenanted by a restaurant operator, while the third floor is being used as office space.

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Tan also adds that commercial shophouses in the Chinatown area are highly sought after by owner-occupiers, high-net-worth individuals, or family offices as long-term investment assets. As this is a commercial property, foreigners and companies are eligible to purchase it without being subject to additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD).

In March, a shophouse on Pagoda Street was sold for $19 million, which translates to $5,588 per square foot. The latest EOI exercise for the shophouse at 76 Pagoda Street will close on January 10, 2025.

Meanwhile, another property currently on the market is a two-storey HDB shophouse located at 210 New Upper Changi Road. This 103-year leasehold property has a GFA of 4,607 square feet and is being marketed by Kris Ng, senior associate marketing director of PropNex. The guide price for this shophouse is $13.8 million, which translates to $2,995 per square foot based on the GFA.

Ng highlights that the property’s main selling point is its long-term, stable tenants. For the past 20 years, the shophouse has been leased by a healthcare retailer, Guardian, and United Overseas Bank (UOB).

Investing in a condo requires careful consideration of financing options. Singapore provides a variety of mortgage choices, but it is crucial to take note of the Total Debt Servicing Ratio (TDSR) framework. This framework sets a cap on the amount of loan a borrower can take based on their income and current debt obligations. To avoid over-leveraging, it is essential for investors to familiarize themselves with the TDSR and seek guidance from financial advisors or mortgage brokers. Additionally, adding Singapore Projects to the mix can offer a wider range of investment opportunities for potential investors. This can help them make informed decisions when it comes to financing their condo investments in Singapore.

Situated within the Bedok Town Centre, this shophouse is in close proximity to Bedok MRT Station, Bedok Mall, and Heartbeat@Bedok. As it is a commercial property, it is eligible for purchase by foreigners and companies without having to pay ABSD or SSD.

The EOI exercise for 210 New Upper Changi Road will close at noon on January 10, 2025. Interested parties can also check out other commercial property listings and compare the price trends between commercial and industrial properties.…