Month: February 2025

CapitaLand India Trust (CLINT) has announced plans to acquire a prominent office project in Nagawara, Outer Ring Road, Bangalore, for an estimated cost of $233.6 million. This strategic move is being made through a forward purchase agreement with Maia Estates Offices.

The addition of this 1.13 million sq ft office project to CLINT’s portfolio is expected to significantly boost earnings and distributions for unitholders. On a stabilized basis, the project is expected to generate a net profit of $7.7 million, while distribution per unit is projected to increase from 6.84 cents to 6.98 cents.

This office project is a part of a mixed-use development that comprises both office and retail spaces. Under the terms of the forward purchase agreement, CLINT will fully fund the development of the office project and receive interest on the funding at a higher rate compared to its borrowing cost.

For those interested in investing in overseas properties, there are a variety of projects available for sale around the world.

Upon completion of the development, which is estimated to be in the first half of 2030, CLINT will acquire the office space while Maia will retain the retail portion. This will result in a 9.9 million sq ft operational portfolio in Bangalore for CLINT, up from its current 8.7 million sq ft.

Apart from this office project, CLINT has other properties under development in Bangalore, including two office buildings in Gardencity, an IT Park at Hebbal, and an IT park at ITPB.

With the addition of this office project, CLINT’s portfolio size, including its committed investment pipeline, is estimated to increase by 4.0% from approximately 30.2 million sq ft to approximately 31.47 million sq ft.

When it comes to investing in real estate in Singapore, it is crucial for foreign investors to be acquainted with the regulations and limitations that come with property ownership. Unlike landed properties, which have more stringent ownership rules, foreigners are generally allowed to purchase condos with minimal restriction. However, it is important to note that foreign buyers are still subject to the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for their initial property purchase. Despite this additional cost, the Singapore real estate market’s stability and potential for growth continue to attract foreign investors, making Singapore Condo an attractive investment option.

According to Gauri Shankar Nagabhushanam, CEO of CLINT, “The acquisition of this strategically located office project will further strengthen CLINT’s position in Bangalore, one of India’s most prominent office markets. In 2024, Bangalore witnessed record leasing levels for Grade A office space, with ORR being the largest office micro-market. With this prime office property, we will be able to offer our tenants a wider range of premium office space options across key micro-markets in Bangalore.”

On Feb 21, units in CLINT closed at $1, experiencing no change from the previous day.…

Sim Lian Group has announced the opening of their executive condo, Aurelle of Tampines, for e-application on Feb 22. The luxurious 760-unit EC is situated at Tampines Street 62 in Tampines North and marks the first new EC project launch of 2025. With its prime location and top-of-the-line amenities, Aurelle of Tampines is poised to be a highly sought-after property for young professionals and growing families.

Conveniently located just a five-minute walk away from the upcoming Tampines North Transport Hub, Aurelle of Tampines is well-connected to various parts of the island. The Tampines North MRT Station, slated to open in 2030 as part of the Cross Island Line, along with an air-conditioned bus interchange, will be integrated with the mixed-use development of ParkTown Mall, Community Club, Hawker Centre and the ParkTown Residence. The 1,093-unit ParkTown Residence will also be officially launched on Feb 22.

Spread across a site area of 301,391 sq ft, the EC project boasts fourteen 14-storey residential blocks. Sim Lian Group has designed the units to cater to the needs of both young professionals and growing families. As such, the units are a mix of three- to five-bedroom units.

Prices for Aurelle of Tampines range from $1.417 million ($1,687 psf) for a three-bedder from 840 sq ft; from $1.689 million ($1,651 psf) for a four-bedder from 1,023 sq ft; and from $2.258 million ($1,665 psf) for a five-bedder of 1,356 sq ft.

Next door to Aurelle of Tampines is the 618-unit EC Tenet, developed jointly by Qingjian Realty and Santarli Realty. Launched in December 2022, the project has already sold 617 units at an average price of $1,385 psf. According to caveats lodged, the highest transacted price on a psf basis was for a 1,367 sq ft unit that fetched $2.26 million or $1,651 psf in December. As of Feb 21, Tenet has only one available unit for sale.

E-applications for Aurelle of Tampines will begin on Feb 22 and end on Mar 4, with sales bookings commencing on Mar 8. The appointed marketing agents for the project are ERA, Huttons, OrangeTee and PropNex.

As per the prevailing EC regulations, during the initial launch (the first 30 days), 70% of the project has to be allocated to first-time buyers, with only 30% open to second-timers. For more information, interested parties can reach out to the marketing agents.

Stay updated with the latest listings and prices for properties in and around Aurelle of Tampines, Tenet and Parktown Residence with Ask Buddy. Our platform also allows you to compare the price trends for new sale condos and resale condos, and find out the available units left in Tenet. You can also check out other recently launched projects in the area for more options.

Singapore’s limited land availability has made condos a highly sought-after commodity in the country. As a small island nation experiencing rapid population growth, the demand for development land is high. Due to this scarcity, Singapore has implemented stringent land use policies and a competitive real estate market, causing property prices to continuously rise. As a result, investing in real estate, specifically condos, has become a profitable opportunity with the potential for capital appreciation. With such attractive prospects, it’s no surprise that condos are in high demand in Singapore.…

A Singapore Condo is a wise investment choice that comes with a myriad of benefits. One of the advantages is the ability to leverage the property’s value for future endeavors. Numerous investors have utilized their condo’s worth as collateral to secure funding for new projects, effectively expanding their real estate portfolio. While this strategy can yield high returns, it also carries inherent risks. As such, it is crucial to have a well-crafted financial plan and carefully consider the potential impact of fluctuating market conditions. With a strategic approach to investing in a Singapore Condo, investors can diversify their real estate assets and potentially achieve even greater success.

River Valley Apartments, a freehold condominium located on River Valley Road, has just been sold for a whopping $56 million. This successful residential collective sale deal is the first of its kind to close in 2025, and has a land rate of $1,622 per square foot per plot ratio (psf ppr).The lucky strata-titled owners will each receive a minimum of $2 to $2.6 million, based on the sale price. According to the press release issued by Knight Frank Singapore, the marketing agent for the sale, the purchaser is a prominent Singapore family office. They plan to reinvigorate the site by turning it into a serviced apartment complex. The Urban Redevelopment Authority (URA) has already granted an Outline Permission for the development of such apartments at the location. This is a highly sought-after area of Singapore, and the deal has attracted a lot of media attention.Read also:Is it a Good Deal?: $2.65 million for a two-bedroom freehold unit in D9AdvertisementAdvertisement“This is a groundbreaking sale, given the current collective sale market conditions, especially in the residential sector,” says Chia Mein Mein, head of capital markets (land and collective sale) at Knight Frank Singapore. She is excited about the successful closure of the River Valley Apartments deal, which is the first residential collective sale site to be sold in a prime district since 2023. In May of that year, Aurum Land purchased the Kew Lodge condominium for $66.8 million.“The tender for River Valley Apartments received a lot of positive interest,” says Chia. According to her, the appeal of this site lies in its excellent location within the popular and bustling River Valley neighborhood. Moreover, its redevelopment into a serviced apartment project is sure to fit perfectly with Singapore’s rapidly growing living sector.River Valley Apartments is a four-story building with a total of 24 units. The site covers an area of 12,408 square feet and is zoned for residential use, with a gross plot ratio of 2.8 under the latest Master Plan. The collective sale of the development was launched on January 7th, at a guide price of $56 million.“We have attempted to initiate a collective sale of this development in the past, but this is the first time we have managed to secure an 80% consensus from the owners to proceed with the sale,” says Jerry Tan, chairman of the River Valley Apartments collective sale committee. You can find the latest listings for River Valley Apartments properties on BuddyListings, and join the other buyers in the hunt for a good deal! Ask BuddyListings for sale for River Valley ApartmentsAre there unprofitable transactions in River Valley Apartments?Compare price trend of HDB vs Condo vs LandedView sale transactions for River Valley ApartmentsAny condo rental listings in District 10?Listings for sale for River Valley ApartmentsAre there unprofitable transactions in River Valley Apartments?Compare price trend of HDB vs Condo vs LandedView sale transactions for River Valley ApartmentsAny condo rental listings in District 10?…

Property investment sales in S’pore down 28.5% in 2023: RCA data

Nassim 9, an exclusive luxury development, achieved a record-breaking transaction during the period from Feb 4 to Feb 7. A 2,486 sq ft four-bedroom unit on the third floor was sold for $7.5 million, which translates to a price of $3,016 per square foot. This transaction has been the most profitable resale transaction recorded at Nassim 9, located at Nassim Road, District 10.

According to records from the Urban Redevelopment Authority (URA), the seller bought the same unit in December 2005 for a price of $4.12 million ($1,641 psf). This means that they raked in a profit of $3.42 million, which is equivalent to 83.8% of their initial purchase price. Based on an analysis of the profit gained, it translates to an annual gain of 3.2% over the period of 19 years.

The recent transaction at Nassim 9 has been noted to be the third most profitable resale at this luxury development. The current record was made in March 2023, when a larger 2,756 sq ft four-bedroom unit was sold for an amount of $9.5 million, or $3,448 psf. This unit was purchased for $4.12 million, which was equivalent to $1,495 psf in December 2005. The seller made a profit of $5.38 million, which is equivalent to 130.6%. This translates to an annual gain of 5% over a period of 17 years.

Prior to the recent sale, the last transaction at Nassim 9 took place in March 2023. It involved a 3,251 sq ft four-bedroom unit, which was sold for an amount of $10.3 million. The seller made a profit of $3.3 million.

Nassim 9, housing only eight units, is a boutique condominium situated along Nassim Road in the prime District 10. It was completed in 2002, and comprises of four-storey buildings with four-bedroom units spanning from 2,756 to 3,423 sq ft.

Mount Faber Lodge, a boutique development, has been in the news as the second most profitable development during the period from Feb 4 to Feb 7. A triplex penthouse unit was sold for $5 million, which translates to a price of $1,350 psf, on Feb 5. The seller had purchased the unit in August 2001 for $1.6 million. This means that the seller made a profit of $3.4 million, or 212.5% of their initial purchase price. Based on an analysis of the gain, it translates to an annual gain of 5% over a period of 23.5 years.

This sale at Mount Faber Lodge has been the most profitable transaction recorded at this freehold development. The previous record was set by a three-bedroom unit, with an area of 2,669 sq ft, which was sold for $3.89 million ($1,457 psf) in October 2022. The unit was purchased for $1.3 million, which was equivalent to $487 psf in January 2006. This sale meant that the seller made a profit of $2.59 million, which is equivalent to 199.2%. It translates to an annual gain of 4.7% over a period of 14 years.

Mount Faber Lodge was completed in 1983, and comprises of 84 studio units with an area of 1,098 sq ft, two- and three-bedroom units ranging from 1,173 to 2,454 sq ft, and 20 five-bedroom triplex penthouses with an area of 3,703 to 3,724 sq ft.

The third most profitable deal was recorded at Amaryllis Ville, a 99-year leasehold development located at prime District 11. A three-bedroom unit on the 28th floor was sold for $2.65 million ($2,141 psf) on Feb 5. It had been sold in June 2005 for $1.09 million ($884 psf). This means that the seller made a profit of $1.56 million, which translates to 142.2% of the initial purchase price. Based on an analysis of the gain, it translates to an annual gain of 4.6% over 19.5 years.

The Condo market in Singapore offers a plethora of advantages for investors, and one of the most prominent among them is the potential for capital appreciation. Thanks to its strategic position as a global business hub and robust economic foundation, Singapore consistently attracts a high demand for real estate. In fact, property prices in this city-state have displayed a consistent upward trend, with condos in prime locations experiencing significant growth. For those who enter the market at the right time and hold onto their properties for the long term, substantial capital gains can be expected.

This sale has been ranked as the third most profitable transaction at Amaryllis Ville. The highest profit was recorded in September 2023, when a 1,991 sq ft three-bedroom unit on the 17th floor was sold for $3.75 million ($1,885 psf). It was bought at a price of $1.95 million ($979 psf) in June 2009. This means that the seller made a profit of $1.8 million, equivalent to 92.5%. Based on an analysis of the gain, it translates to an annual gain of 4.7% over a period of 14 years.

According to statistics compiled by EdgeProp Singapore, resale prices at Amaryllis Ville has been on the rise. The average price rose to $1,897 psf in February 2023, and further rose to $2,001 psf in February 2024. In the last month, the average price rose to $2,082 psf, and represented a 4% gain year-on-year.

Amaryllis Ville houses a total of 311 units, and is surrounded by a mix of one- and two-bedroom units ranging from 657 to 1,378 sq ft, and three-bedroom units ranging from 958 to 2,637 sq ft. The development also has a total of 20 five-bedroom triplex penthouses between 3,703 and 3,724 sq ft. Rochelle at Newton, comprising of 129 units, is situated along Keng Lee Road, while Kopar at Newton, comprising of 378 units, is situated along Makeway Avenue. There were no transactions recorded during the period in review.…

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When purchasing a condominium, it is crucial to take into account the maintenance and management of the property. Maintenance fees are typically included in condo ownership and cover the maintenance of shared spaces and amenities. Although these fees may increase the overall cost of ownership, they help to preserve the property’s condition and value. It may be beneficial for investors to enlist the services of a property management company to handle the daily operations of their condos, making it a more hands-off investment. This is particularly true for condominium projects in Singapore available at Singapore Projects.

8M Residences, a freehold development, topped the list of private condos that achieved a new psf-price peak in the first week of February 2025. The development recorded a new high of $2,384 psf when a two-bedroom unit on the 15th floor sold for $1.54 million on Feb 3. This sale is the first time a unit at 8M Residences has been sold for over $2,300 psf, surpassing the previous record of $2,261 psf set in April 2023. Another unit at 8M Residences was sold during this period, also surpassing the previous record. On Feb 3, a one-bedroom unit on the 11th floor sold for $1.2 million, setting a new high of $2,275 psf. Over the last few years, resale prices at 8M Residences have consistently risen, with an average price increase of 7.3% over the last three years. Completed in 2017, 8M Residences has a mix of one- to three-bedroom units as well as four penthouses. It is conveniently located near various amenities and is within walking distance of a few MRT stations. In second place on the list is Kovan Jewel, a freehold condo located in District 19. The sale of a three-bedroom unit on the second floor for $2.41 million on Feb 7 set a new high of $2,236 psf. This sale marginally surpasses the previous record set in August 2024. As of Feb 18, 50% of the units at Kovan Jewel have been sold at an average price of $2,111 psf. Lastly, Oleanas Residence, a freehold condo in District 9, rounded out the top three with a new record of $2,207 psf for a three-bedroom unit on the sixth floor. Completed in 1999, Oleanas Residence has seen only four resale transactions in the last three years. It is within walking distance of two MRT stations and various educational institutions.…

Real estate developer Heeton Holdings has achieved a significant jump in earnings for the second half of the financial year 2024, with a 221% increase compared to the same period last year. The group reported a profit of $3.85 million for the 2HFY2024, which ended on December 31, 2024. However, for the full year of FY2024, the group is still operating at a loss.

During the 2HFY2024, Heeton’s earnings per share came in at 0.79 cents per ordinary share. However, for the FY2024, the group reported a negative 0.28 cents per share. This indicates that while there has been a significant improvement in earnings, the group is still facing challenges in terms of overall profitability.

Heeton’s revenue for the 2HFY2024 also saw a positive growth of 10.5% year-on-year, reaching $41.1 million. Similarly, for the full year, the group’s revenue increased by 15.2% to $78.2 million.

The group attributed this growth to a combination of factors, including rental income from investment properties, hotel operation income, and management fee. In FY2024, the group’s turnover experienced a 15.2% year-on-year increase due to higher occupancies in the United Kingdom and an increase in rental rates for its investment properties.

Aside from revenue growth, the group also experienced a net gain of $3.78 million from the disposal of some of its subsidiaries. This included its 70% interest in Gloucester Corinium Avenue Hotel Limited and Ensco 1154 Limited.

When contemplating an investment in a condo, it is crucial to also evaluate the potential rental yield. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. This factor can significantly impact the return on investment. In Singapore, the rental yields for condos can vary greatly based on various factors such as location, property condition, and market demand. For instance, condo units situated in areas with high rental demand, such as near business districts or educational institutions, usually offer more favorable rental yields. To gain a better understanding of the rental potential of a specific condo, it is essential to conduct thorough market research and seek advice from real estate agents. Furthermore, keeping an eye on new condo launches can also provide valuable insights into potential investment opportunities.

Heeton’s property, plant, and equipment amounted to $418.83 million in FY2024, mainly consisting of hotel properties. Compared to the previous year, there was an increase of $16.92 million due to the acquisition of a hotel in Edinburgh, United Kingdom. The appreciation of Pound Sterling and reversal of impairment changes offset by the disposal of hotels in Japan and the United Kingdom and depreciation charges recognised.

In terms of cash flow, the group saw a decrease of $32.70 million in cash and cash equivalents due to significant inflows and outflows. This includes proceeds from the disposal of property, plant, and equipment of $26.43 million and proceeds from the disposal of subsidiaries of $11.37 million.

On the other hand, there were cash outflows, such as a net repayment of loans from associated and joint venture companies of $24.45 million, additions to property, plant, and equipment of $40.36 million, and restricted cash pledge for a bank facility of $22.98 million.

Given the current economic and geopolitical uncertainties, Heeton aims to maintain its prudent and steady strategic expansion. The group operates a bespoke boutique brand that offers high-quality and experiential stays for its guests. Despite headwinds faced by the hospitality industry, including high operating and labour costs, elevated interest rates, and an uncertain macroeconomic environment, Heeton will continue to build on its strengths and offerings.

Furthermore, the group consistently participates in land tenders in the local residential market, often in a consortium. Despite this, Heeton’s two retail malls are expected to generate stable and recurring income for its property investment business.

Heeton has declared a final dividend of 0.5 cents per share for the current financial period. On February 20, Heeton’s shares closed at 27 cents, a 0.5 cent decrease or a 1.818% drop.…

In Singapore, there are few areas that offer a combination of lifestyle and convenience like the East Coast. For Que Neo, a Singaporean businessman and boutique property developer, developing residential projects where he wants to live is a key aspect of his strategy. His latest project, K Suites, is a 19-unit apartment block in the prime East Coast area of District 15, developed by his subsidiary, EG Properties.

Located along Lorong K Telok Kurau, K Suites is expected to obtain its temporary occupation permit (TOP) sometime in 1Q2025. The project is designed to offer a convenient location for its residents, with easy access to the beach, East Coast Park, malls, the CBD, and Changi Airport. Neo highlights the project’s strategic location, which takes just 10 minutes to reach the airport and downtown with the East Coast Parkway and Pan-Island Expressway.

An artist’s impression of K Suites showcases a sleek and contemporary facade, with a curtain wall system allowing natural light to flood the interior and offer unblocked views of the neighborhood. The project offers a range of units, including four penthouses with a 7m ceiling height. Three of these have already been sold, with only one remaining for sale.

One of the main attractions of K Suites is its proximity to public transport and popular schools. Located less than 50m from the nearest bus stop, residents can easily access the nearest MRT stations: Marine Parade on the Thomson-East Coast Line (TEL) and Eunos on the East-West Line (EWL). Eunos Station provides a convenient one-stop access to the Paya Lebar Interchange, which connects to the EWL and Circle Line, and five stops from the Bugis Interchange, connecting to the EWL and Downtown Line. Marine Parade Station is also linked to the Marina Bay Interchange, providing access to the TEL, North-South, and Circle Lines, and six stops from Shenton Way in the CBD. The TEL also offers direct trains to Orchard Road and Woodlands North, as well as connecting to the Rapid Transit System (RTS) Station, linking Singapore to Bukit Chagar Station in Johor Bahru.

Families with young children will also benefit from the project’s proximity to preschools and popular primary and secondary schools, such as PCF Sparkletots @ Joo Chiat, Tao Nan School, Haig Girls’ School, CHIJ (Katong) Primary, Dunman High School, Tanjong Katong Secondary School, and Tanjong Katong Girls’ School.

K Suites boasts an efficient layout and quality materials, with units designed by JGP Architecture featuring regular layouts and ceiling heights ranging from 3.5m to 4.5m. The duplex penthouses offer a more spacious 7m ceiling height, making them popular with large families. The apartments also feature top-end German brand fittings, including Miele kitchen appliances, Duravit sanitaryware, and Grohe bathroom fittings. Residents can also enjoy a range of facilities, including a swimming pool, Jacuzzi, barbecue pit, lounge area, gym, outdoor fitness area, and playground. The project also offers a grand arrival and drop-off area, with a large surface carpark with 16 spaces and two electric vehicle charging stations.

Since its preview in September 2022, the first phase of 10 units at K Suites has been sold as of Feb 2025. Predominantly Singaporean buyers, including professionals such as doctors, lawyers, and corporate executives, have shown an interest in the project. The development offers a range of units, from three-bedroom apartments of 797 to 872 sq ft to four-bedroom apartments of 1,076 to 1,130 sq ft. The largest units are the five-bedroom penthouses, ranging from 1,625 to 1,679 sq ft, with three of the four already sold. The remaining unit is popular with large families, with one sold to a family with four children, each having their own bedroom. Most buyers are upgraders, seeking a freehold property with a prime District 15 address.

Before making the decision to invest in a condo, it is crucial to take into account the maintenance and management aspect of the property. In most cases, condos come with maintenance fees that are used to maintain the common areas and facilities. Although these fees may increase the cost of ownership, they also guarantee that the property is kept in good condition and maintains its value. It can be beneficial for investors to hire a property management company to handle the daily operations of their condos, allowing for a more passive investment. Additionally, it is worth considering New Condo Launches as potential investment opportunities.

According to Neo, K Suites is the most affordable new freehold project in District 15, making it attractive to both buyers and investors. With the upcoming TOP and positive market sentiment, developer Euro Properties is releasing the remaining units in the project. Three-bedroom apartments are now priced from $2.058 million ($2,582 psf), while four-bedroom units start from $2.525 million ($2,347 psf). The sole remaining five-bedroom penthouse is tagged at $3.5 million ($2,154 psf).

Huttons Data Analytics has found that boutique developments in District 15 have seen prices appreciate over 100% since their launch. For instance, the 127-unit Coralis has seen a 76.5% increase in monthly median rent over the past five years, making it an excellent investment for those seeking a low-density and tranquil living experience in the East Coast. With its desirable location and range of high-quality amenities, K Suites is set to be a sought-after residence and investment opportunity for those looking to enjoy the best of the East Coast lifestyle.…

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Private housing rents saw a modest rebound in the fourth quarter of 2024, rising by 0.2% compared to the previous three months. However, the rental market is expected to remain flat this year, according to a report by Savills Singapore.

The non-landed private residential market had a lackluster performance in the first three quarters of 2024, resulting in a 1.7% decline in rents for the entire year. This is the first full-year decrease since 2020, when there was a 0.5% drop in rental prices.

In the fourth quarter of 2024, there were 19,733 rental transactions, representing a decline of 24.2% compared to the previous quarter. According to Savills, this drop is likely due to a decrease in net new rental demand, as the number of employment pass and S pass holders decreased last year, coupled with a seasonal lull in rental activity towards the end of the year.

The report noted that the majority of the decline in rental activity in the last quarter came from a 30.8% drop in rental contracts for landed homes across the island. There was also a 23.7% decrease in leasing volumes for apartments and condos during the same period.

George Tan, managing director of Livethere Residential at Savills Singapore, said, “Despite the decrease in leasing activity in the fourth quarter of 2024, there is still some growth in rental demand. Rents in the private residential market have also stabilized.”

He added that more affordable rents can be found in suburban areas, allowing tenants to prioritize lifestyle options such as larger units, convenient access to MRT stations, shopping malls, and recreational activities.

Rental data compiled by Savills showed that Parc Esta, a 1,399-unit development in District 14, had the highest number of condo rental transactions in the fourth quarter of 2024, with 163 deals at a median rent of $6.84 per square foot per month. Other developments with a high number of rental transactions include Marina One Residences (126 transactions at $6.62 per square foot per month), The Sail @ Marina Bay (126 transactions at $6.72 per square foot per month), Normanton Park (120 transactions at $6.26 per square foot per month), and D’Leedon (107 transactions at $5.43 per square foot per month).

When it comes to rental price growth, only the Outside Central Region (OCR) saw a decline of 0.8% compared to the previous quarter in the fourth quarter of 2024. In contrast, rents in the Core Central Region (CCR) and Rest of Central Region (RCR) increased by 0.9% and 0.3%, respectively.

According to Savills, the decline in rent prices in the OCR may be due to more tenants in suburban areas moving to more central neighborhoods, driven by relatively more reasonable rents.

The report also noted a 1.7% quarter-on-quarter increase in the average monthly rent for luxury properties in the fourth quarter of 2024. This suggests a possible slight rebound in the luxury rental market after a consistent decline for the past five quarters.

Looking ahead, landlords may face challenges in the rental market as companies continue to reduce headcounts and hire fewer expatriates, said Alan Cheong, executive director of research and consultancy at Savills Singapore. He also mentioned that landlords will have to deal with higher property taxes for non-owner-occupied residential properties and increased conservancy charges due to upward inflationary pressures.

When buying a condominium, it is essential to consider the maintenance and management aspects of the property. Condos usually involve maintenance fees that cover the upkeep of common areas and facilities. These fees may add to the overall cost of owning a condo, but they also ensure the maintenance of the property and its value. Engaging the services of a property management company can help investors in managing day-to-day tasks for their condos, making it a more hands-off investment. Moreover, staying updated on new condo launches can present potential investment opportunities and potential for growth.

However, Cheong also pointed out that the relatively limited supply of large luxury properties on the rental market may help landlords resist underpriced rental offers. He added, “Although rents for non-landed private residential properties have started to rise again in the third and fourth quarters of 2024, we expect challenges in the rental market in 2025.”

He also believes that the widespread adoption of AI could reduce overall manpower requirements for some high-tech firms, resulting in continued reduction of expat tenants in Singapore.

“The saving grace for the rental market is that, in 2025, there are fewer new private homes expected to be completed,” he said. Additionally, higher property taxes on investment properties may discourage landlords from accepting lower rental rates. He also predicts that it may take longer for interest rates to fall, resulting in mortgage payments remaining stable for a longer period.

In conclusion, despite a modest rebound in rental prices in the fourth quarter of 2024, the rental market is expected to face challenges in 2025, with fewer new private homes being completed and a decrease in expat tenants. Landlords may also have to deal with higher property taxes and conservancy charges, but the limited supply of luxury properties may allow them to resist underpriced rental offers.…

CBRE, a leading global real estate service company, has been appointed as the exclusive marketing agent for the sale of two commercial properties in the heart of Singapore’s Central Business District (CBD).

The first property is the highly sought-after 27-room Hotel Clover, located at 7 Hongkong Street. With a guide price of $27 million, this six-storey boutique hotel sits on a 1,701 sq ft plot that is zoned as a “hotel” with a plot ratio of 4.2 under the latest Master Plan. The site has a remaining land tenure of around 89 years and a total floor area of 7,142 sq ft. At $3,780 per square foot, this property presents an attractive investment opportunity for potential buyers.

Meanwhile, the second property is a five-storey commercial building at 36 Hongkong Street, which is also on the market for sale at a guide price of $22.6 million. This 1,733 sq ft plot is zoned as a “commercial” property with a plot ratio of 4.2 under the Master Plan. The site has a remaining land tenure of 93 years and a total floor area of 7,279 sq ft. At $3,105 per square foot, this building presents a valuable investment opportunity in the thriving CBD area.

Both properties have longer remaining land tenures compared to other similar 99-year leasehold properties in the area, making them more attractive to potential buyers. They are also ideal for owner-occupiers looking for a flagship asset at a reasonable price with naming rights for their operations.

Foreigners and companies are eligible to purchase both assets without incurring Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) on the transactions, as they are categorized as hotel and commercial properties.

Located in Clarke Quay, a bustling riverfront lifestyle precinct, these properties are surrounded by acclaimed restaurants, bars, boutique hotels, and fitness studios. They are also within walking distance to Clarke Quay MRT Station on the North-East Line.

The area is set to become even more vibrant with the completion of a $62 million asset enhancement initiative at CQ@Clarke Quay and the upcoming completion of two new integrated developments, Canninghill Piers and Union Square. This presents excellent potential for future rental upsides and capital appreciation for both properties in the medium to long term.

The properties will be sold through an expression of interest exercise, which closes on March 26. With their prime location and potential for growth, 7 and 36 Hongkong Street are attractive investment opportunities for savvy buyers in the commercial real estate market.

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One crucial factor to consider when investing in condos in Singapore is the government’s property cooling measures. These measures have been implemented over the years to control speculative purchasing and maintain a steady real estate market. Among them, the Additional Buyer’s Stamp Duty (ABSD) stands out, as it imposes higher taxes on foreign buyers and individuals acquiring multiple properties. While these measures may affect the immediate profit potential of condo investments, they also contribute to the long-term stability of the market, creating a more secure investment landscape. Singapore Projects should also be a part of any prudent investor’s considerations.…

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The Singaporean government has implemented several measures to regulate the real estate market and deter speculative buying, making it a crucial factor to consider when investing in condos in Singapore. These measures, collectively known as the property cooling measures, have been put in place over the years to ensure a stable market. One of the main measures is 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 profits of condo investments, they ultimately contribute to the long-term stability of the market, creating a more secure investment environment. This makes Singapore an attractive location for condo investments, with projects such as Singapore Projects providing excellent options for prospective investors.

for 2-beddersVivian Wang / EdgeProp SingaporeThe EdgeProp Singapore Property Market Outlook event on Sunday, Feb 16, spurred discussions on how new property cooling measures, incoming housing supply from government land sale (GLS) sites and Build-To-Order (BTO) launches, as well as Budget 2025 announcements could impact the real estate market.The panel of three industry experts comprising Alan Cheong, executive director of research and consultancy at Savills Singapore; Wong Xian Yang, head of research, Singapore and Southeast Asia at Cushman & Wakefield; and Song Seng Wun, Singapore economic advisor at CGS International — moderated by EdgeProp Singapore CEO Bernard Tong — discussed the possibility of new cooling measures affecting the HDB resale market.The possibility of new property cooling measures, incoming housing supply from GLS sites and BTO launches, as well as Budget 2025 announcements impacting the real estate market were among the top points discussed at EdgeProp Singapore’s Property Market Outlook event on Sunday, Feb 16.The panel of three industry experts comprising Alan Cheong, executive director of research and consultancy at Savills Singapore; Wong Xian Yang, head of research, Singapore and Southeast Asia at Cushman & Wakefield; and, Song Seng Wun, Singapore economic advisor at CGS International, participated in a panel discussion moderated by EdgeProp Singapore CEO Bernard Tong.The event, which was organised by EdgeProp Singapore, took place at the Elta sales gallery, a new 501-unit project jointly developed by MCL Land and CSC Land Group. The sales gallery opened for public preview on February 7.According to media reports and market data, government land sale sites and Build-To-Order launches could potentially impact the real estate market. During the event, the panelists discussed the possibility of these developments leading to new property cooling measures. Cheong suggests that if the government were to implement any cooling measures, it is likely that they would be applied uniformly across the residential market. He adds that the measures could also focus on the HDB resale market, which forms the “floor” of the housing market in Singapore. According to Cheong, a surge in price growth in the HDB resale market could potentially lead to upward pressure on prices in the private housing segment.Wong also shares his thoughts, stating that the government may consider adjusting the seller’s stamp duty (SSD) and introducing tougher loan restrictions. Meanwhile, Tong notes that the government has plans to inject a strong pipeline of GLS and BTO supply into the market in order to meet housing demand. According to him, the 1H2025 GLS programme will consist of 10 sites on the Confirmed List, which could yield 5,000 new homes. In addition, HDB plans to offer 19,600 BTO flats in 2025.Under the new BTO classification, newly launched Prime and Plus BTO flats will take about 14 years to enter the resale market. According to Cheong, the impact of these developments on prices will only be felt much later on. Wong adds that prices in the resale market tend to follow project completions and HDB estates completing their minimum occupation period (MOP). Both the panelists believe that project completions are more likely to affect prices, as opposed to the pipeline of GLS sites that are up for tender each year.Despite this, all three panelists acknowledge that the recent success in the new launch market is indicative of strong buyer confidence for the projects that are set to hit the market this year. Elta, for instance, drew in about 4,500 visitors within the first three days of its public preview opening. Other new launches that have experienced strong selling rates include The Orie (86% at launch) and Bagnall Haus (63% at launch).Read also:Budget 2025: More than 50,000 new HDB flats to be launched in the next three yearsSong of CGS International opines that prospective buyers are still positive about the possibility of making a profit when they eventually sell their properties. According to him, this can be attributed to a stronger job market, which has increased property owners’ confidence to upgrade. During the panel discussion, he also weighed in on Budget 2025 and its potential impact on the property market. With Singapore seeing a relatively strong economic recovery post-pandemic, he believes that the surplus of the government will give way to more handouts, as 2025 is an election year.At the event, the panelists also took questions from the audience. While discussing the rental market and its forecast for this year, some participants questioned whether the residential property market is currently in a “euphoric” phase. In response, Cheong stated that this sense of market exuberance will likely subside as developers strategically time the launch of new projects. He adds that several launch-ready projects are located in neighbourhoods that haven’t seen a new launch in several years, and that demand tends to build up over that time.Several investors also sought the panelists’ opinion on the rental market in 2021, which has been relatively slow since its peak two years ago. In response, Cheong pointed out that while the total number of expatriates in Singapore has declined over the past year, there has been an uptick in the volume of rental transactions. This is due to renters deciding to stop flat-sharing and finding their own accommodation due to falling rents. However, Cheong notes that this was offset by layoffs among technology and finance companies this year, which could moderate rental price growth.During the event, Tong also presented a session of EdgeProp’s Master Plan Master Class. He covered upcoming transformation plans in Clementi and Jurong East. According to him, once the second phase of the Cross Island Line (CRL) is completed, an existing MRT station (West Coast) will turn into an interchange. “Historically, MRT interchanges tend to have a positive impact on surrounding property prices,” he says.Transformation plans in Clementi include the redevelopment of Clementi Stadium and the installation of more than 6.6km of cycling paths throughout the area. Tong also observes that housing demand in Clementi could potentially benefit from the progressive development of the Jurong Lake District and the new jobs that are set to be created in the nearby Tuas megaport, Tuas Biomedical Park, Jurong Island, and Jurong Innovation District.Based on data compiled by EdgeProp Singapore, the average age of existing condos in Clementi is about 17 years. Tong notes that new projects in Clementi have seen strong capital gains in recent years. For instance, Clavon has seen a 24% uptick since its launch, while The Clement Canopy has experienced a 43% price growth since launch. Both projects are located in the vicinity of Elta.The data comes from EdgeProp Singapore’s suite of property tools, which could help owners, buyers, and sellers understand market and price trends, such as HDB resale prices, analytics of profitable transactions, and upcoming GLS sites. You can access the latest listings for Elta properties, or use our other tools such as Ask Buddy, which lets you know if you are looking at the right price for condominiums, and generates price trend graphs for new launch condos in District 5, as well as properties that have had the most profitable transactions in the past year.…