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When contemplating an investment in a Singapore condo, one must also thoroughly evaluate its potential rental yield. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, condos can yield a wide range of rental returns based on factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, tend to offer more attractive rental yields. Performing extensive market research and seeking guidance from experienced real estate agents can provide valuable insights into the rental potential of a specific Singapore condo.

The luxury goods market has faced numerous challenges in 2024. The uncertainty of the global economy and rising prices of luxury brands have led consumers to cut back on their spending. A recent report by Bain & Company showed a 2% decline in global sales of personal luxury goods for 2024, with China being hit the hardest with a 20-22% decrease. Companies such as Richemont Luxury, LVMH, and Moncler Group saw slight declines in profits, while Kering reported a more significant decrease.

Amidst these struggles, Singapore has remained a significant market for luxury brands, with Euromonitor reporting an 11% growth in luxury goods sales to $9.1 billion in 2023. Despite their reputation for timeless elegance and heritage, luxury brands have recognized the importance of embracing digital strategies to engage with customers in a rapidly evolving market. Brands such as Dior, Chanel, and Louis Vuitton have implemented e-commerce and digital marketing strategies to better connect with their clientele.

In addition to digital experiences, luxury brands have also embraced the idea of creating unique and memorable offline shopping experiences. Flagship stores are becoming more elaborate and grand to cater to the needs of high-end clients. For example, Louis Vuitton opened a 690 square-meter “apartment concept” store at Ngee Ann City in 2023, dedicated to its “VICs” (very important clients). Similarly, Burberry has renovated and re-opened their stores at Marina Bay Sands and Paragon, incorporating their rich British heritage and blending tradition with innovation.

Despite the challenges, spending on luxury goods is expected to increase in 2025 and beyond, driven by factors such as the growth of high-net-worth individuals, interest from younger generations, and a resurgence of tourists from China. Luxury brands are also leveraging AI to personalize and customize their offerings, build stronger connections with their customers, and better understand their preferences. Some brands, like Dior and Balenciaga, have embraced AI technology in their shows and online platforms to stay attuned to their customer’s wants and needs.

In conclusion, while 2024 has proven to be a tough year for the luxury goods market, there is hope for growth in the coming years as brands continue to expand their presence, create larger flagship stores, and provide elevated experiences for their top clientele. With a focus on digital technology and catering to the needs of millennials and Gen Z, luxury brands will continue to thrive in the evolving market.…

V-ZUG: The Swiss Brand that Prioritises Simplicity and Quality

The realm of interior design is ever-evolving, with new styles constantly taking center stage. However, there are certain aspects that never go out of fashion – functionality and elegance. It is this timelessness that forms the core philosophy of V-ZUG’s design process.

For over a century, since its inception in 1913, the Swiss appliance brand has been captivating developers and designers of luxury residences. Today, its products can be found in cities all over the world, from its homeland in Switzerland to cosmopolitan hubs like Shanghai, London, and Singapore.

At the heart of V-ZUG’s appliances lies a focus on sleek lines and a dedication to blending durability with sleek aesthetics, setting the brand apart from its competitors. By striking a balance between tradition, quality, and contemporary aspirations, V-ZUG has made a name for itself in shaping modern kitchen designs.

The brand’s unwavering commitment to craftsmanship and quality control sets it apart from the rest. Each of V-ZUG’s products is handcrafted in Switzerland and undergoes rigorous testing by engineers to ensure top-notch performance, be it ovens, induction cooktops, or fabric preservation appliances. Even before the production process begins, the brand’s design team conducts extensive research to determine the best sustainable practices that can be tailored to create each appliance while maintaining its strict quality standards.

In its pursuit of being environmentally responsible, V-ZUG has recently incorporated Circle-Green recycled stainless steel by Outokumpu into its production processes. This move has significantly reduced the carbon footprint associated with traditional stainless steel production, with emissions being reduced by a staggering 93%.

When it comes to designing its kitchen appliances, V-ZUG doesn’t leave anything to chance. The brand consults with celebrated chefs from Michelin-starred restaurants to ensure that each product has all the necessary functions to create top-notch meals. By making professional-grade kitchen technology accessible to passionate home cooks, V-ZUG elevates the daily culinary experience.

In terms of aesthetics, V-ZUG’s products are designed to seamlessly integrate into any home. The brand’s minimalist design language and diverse range of products ensure that there is something for every household. For example, its series of wine cabinets includes the full-height WineCooler V6000 Supreme and the WineCooler Undercounter Swiss Luxury (UCSL). Despite varying in size, both wine cabinets feature two temperature zones, allowing for optimal storage of different types of wine. This not only allows for greater customization to suit individual homes but also maintains the high level of quality that consumers have come to expect from V-ZUG’s luxury appliances.

Consistency is another defining factor in V-ZUG’s appliance designs. The brand’s range of products features clean and sleek lines, with features such as mirrored glass fronts that bring everything together seamlessly.

Securing financing is a crucial factor when it comes to investing in a condominium. Fortunately, Singapore offers a variety of mortgage choices. However, it is crucial to have a thorough understanding of the Total Debt Servicing Ratio (TDSR) framework, which sets a cap on the loan amount a borrower can obtain based on their income and current debt commitments. By familiarizing oneself with the TDSR and seeking guidance from financial experts or mortgage brokers, investors can make well-informed decisions about their financial options and avoid overstretching themselves. Additionally, staying updated on new condo launches can provide potential investors with a wider range of condo investment opportunities.

Achieving simplicity in the end product is no easy feat. At V-ZUG, the process of creating an appliance involves paying attention to every detail. The brand’s excellence is achieved when each element, from the way a wine cabinet’s doors open and close to the hues of the LED lights on a refrigerator, works together harmoniously, leaving no room for compromise.

But V-ZUG’s commitment to excellence doesn’t end in the kitchen. The brand also offers products like the RefreshButler, a modern solution to sanitize and deodorize garments, providing a practical yet elegant solution to everyday needs.

In a world where constantly changing trends dominate the market, V-ZUG stands out with its approach of prioritizing simplicity and quality. Through its timeless design philosophy, the brand has established itself as a leader in luxury appliances, committed to providing extraordinary living while promoting sustainability.…

3 adjoining freehold industrial buildings in Kaki Bukit for sale at $19.5 milEn bloc potential for Eunos TechparkIndustrial property investment sales jumped 104% to $4.65 bil in 2019Prime industrial properties for saleIndustrial property demand remains strong; prices, rental expected to rise in 2020 JTC Punggol: $592.2 milHDB Clementi: $473.3 mil Housing & Development Board (HDB), the Republic’s public housing authority has announced the commercial and residential sites at Punggol North and Clementi as well as the private residential and industrial site at Dairy Farm.One of the situated at Punggol North is the area sited near a waterway link to Serangoon Reservoir. The site also stands for public housing. The 7,818 sqm was triggered for sale by the government land sales program for the confirmed list on July 28, 2017. The site can cater for around 235 units and can yield 1.14 plot ratio. The Punggol West LRT Station is nearby. There were seven bids received by the time the tender was closed on August 25, 2017. The highest bid was at $592.2 million, made by Sing Development and Wee Hur Development, which translates to $1,109 psf ppr.Two areas at Clementi were also triggered for sale under the confirmed list of GLS. One of them is for residential purposes and the other is for commercial and residential uses. There were two proposals received for the site at Clementi Avenue, with the highest bidder being MCC Land (Singapore) for $302.1 million. The site is near Nan Hua Primary School and is located between Clementi MRT Station and Clementi Arcade. The 140,339 sqm site can cater for 640 homes and boasts an area of 22,417.9 sqm for commercial usage.CSC Land Group, which is a new subsidiary of China State Construction Engineering Corporation also topped nine other bidders for the commercial cum residential site in Clementi. The price paid for the site was $232.5 million. The site is located at Clementi Avenue 1 and can accommodate a gross floor area (GFA) of 16,000 sqm. This translates to $788.31 psf ppr. The development will likely house around 115 commercial units. The site is also in close proximity to Clementi MRT Station, The Clementi Mall and Clementi Arcade. The estimated breakeven price is likely to be between $1,400 psf and $1,500 psf.Another top site to watch is the one for commercial and residential purposes which is located at Dairy Farm. The site had attracted nine proposals with the highest bidder being United Engineers Development for $368.8 million. This translates to $830.23 psf ppr. The site is in close proximity to the Hillview MRT Station and The Rail Mall and is situated one of the nicest corners in the enclave around the Bukit Timah Nature Reserve. The Hillview MRT Station is also only two stations away from the new downtown line 2 due in the near future. The site offers a great view for the residents and will be ideal for around 450 residential units. In addition, the site area also has 6,000 sqm of commercial space.Request for info or for streaming.This exciting employments in the Singapore real estate market are always a hit with potential buyers. Only time will tell what happens to these sites and whether or not they will end up attracting any more bids. Property agents has a last opportunity to help their clients by fully researching and previewing all potential sites. Furthermore, the employments made at these sites will only have an impact on rental rates when the projects are completed and older projects in the area continue their progress. Developers are always asking for the highest that potential buyers should consider. It is important to find sites that are suitable and appropriate for the market.Michael Ting – 11 November 2019Home prices gain by 0.9% in Q1Home prices slipped for the fifth consecutive quarter by just 0.1% in the last quarter of 2019. This is a clear indication that the market is finally bottoming out. This is according to the latest flash estimates released by the Urban Redevelopment Authority (URA) on Monday. The tiny decline was a huge improvement from the 1.2% decline recorded in the third quarter of 2019. If the trend holds, then there is a clear indication that the market is bottoming out and may soon be heading to the recovery phase. It’s clear that the government’s property cooling measures over the past few years have had an impact on the market, causing prices of residential properties to decline by a significant margin. For instance, according to the URA Price Index, private home prices have declined by 2.8% since the peak of 2018. This figure is much higher in comparison to the 0.6% decline recorded in the same period of 2019. On a quarter-on-quarter basis, private home prices declined marginally by 0.1%, a figure that is much lower to the 0.9% drop recorded in the previous quarter. However, it was higher than the original estimates made in the month of October when URA released the data for the third quarter. The index came in at 219.0 points, meaning that prices had barely changed from September’s 219.5 points. This was mainly attributed to the buzzing en-bloc market as well as rising prices for super prime condo units. These developments were the key drivers of prices of non-landed private homes in the core central region and had as much as 2.3% gain. This growth made a significant difference to the overall performance when compared to the 0.8% and 0.9% declines recorded in the city fringe and outside central region respectively.Read also: Private home prices fall by 0.9% in Q3Private home prices fell by 0.7% in Q2Private home prices fall by 0.8% in Q1Developer sales rose to 10-year high of 9,912 private homes in 2017There was a notable difference in prices across different regions. Across the CCR, the prices of non-landed properties rose by 2.3% in the last quarter of 2019. In the previous quarter, prices had declined by 3.8%. In the city fringe, prices fell by 0.8% in the fourth quarter of 2019. In the previous quarter, they had gained by 0.5%. Outside the central region, prices in the same quarter declined by 0.9%, up from the 1.2% drop recorded in the previous quarter. According to Huttons Asia, the gain recorded in the fourth quarter is an indication that the current depression in prices may soon be coming to an end. There was a significant reduction in the number of new projects launched in the market. According to URA, developers only launched 1,115 units in the fourth quarter, down from 1,468 units back in September. This is a decline of between 33.2% and 34.3%. All in all, the figure adds up to a total of 1,616 units launched in the last quarter of 2019, down from 2,682 units in the same quarter of 2019. In terms of unsold homes, the market had around 30,600 units in Q4 2019, 10% lower than the 33,900 units recorded in the previous quarter. When broken down, a majority of these were in the city fringe category, where CCR had a 4,400 figure and OCR a figure of 16,800 units. The first two quarters of 2020 will have approximately 60 projects being launched. According to Lee Sze Teck from Huttons Asia, the first project launch of the year, The Avenir at River Valley Close, will be a condominium project comprising of about 376 units. Prices are expected to be between $2,900 and $3,500 psf. The launch will be followed by Les Maisons Nassim, that will take up an 5,000 sqm space and have a gross development value of $400 million. The developer will be aiming for an average selling price of $3,000 psf. Buyers waiting for new launches that feature high capital appreciation should be keen on the 5,000 sqm to 10,000 sqm units. Units with plenty of amenities and better materials will definitely gain more capital appreciation with the rise of home prices. Prices of units with better interior finishings will be more resilient and at this point it is clear that home buyers will differentiate they value-add developers this way. However, gradual easing of property cooling measures has seen the market record huge gains in terms of property sales. In a separate data released by the URA, developers sold 10,104 units (exclusive of executive condominiums) in 2019, up from 5,500 units in 2018. There were 20,100 private homes sold in 2019, up from 16,300 in 2017. Knight Frank’s head of research, Mr. Lee Nai Jia expects a 4% to 6% growth in private home prices for 2025, which is wildly a result of the easing in property cooling measures across the market. But the repercussions are clear to see, where home buyers have seen prices skyrocket in previous years, especially in the CCR region.See more: Property Prices N

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Investing in a condo involves securing proper financing, a crucial aspect to consider. Fortunately, Singapore offers a variety of mortgage choices to suit different needs. However, it is important to take note of the Total Debt Servicing Ratio (TDSR) framework, which places a limit on the loan amount that a borrower can obtain based on their income and current debt obligations. By understanding the TDSR and seeking guidance from financial experts or mortgage brokers, investors can make well-informed decisions about their financing options. This will also help them avoid being overburdened by debt. It’s always wise to seek professional advice before making a major investment decision. New Condo Launches are also a great option for investors to consider in Singapore.…

The property market in 2024 saw two distinct halves, with the first half being slower and boutique developments taking the spotlight. According to data from Huttons Data Analytics, it was the lowest number of units launched for sale since 1H1996, with only 1,889 units sold – the lowest since 1996.The only exception to this trend was the 533-unit Lentor Mansion, which saw a 75% take-up rate during its launch weekend in March. In general, most project launches in 1H2024 saw relatively subdued sales compared to 2023. Huttons Asia CEO Mark Yip notes that the market was cautious and tentative, possibly due to uncertainties in the job market and persistently high interest rates. Many buyers were likely holding back, waiting for highly anticipated project launches later in the year, such as Chuan Park and Emerald of Katong.However, things started to pick up in the second half of the year, with the launch of the 276-unit Kassia on Flora Drive in late July, which saw a 52% take-up rate. This set the stage for strong sales momentum following the Lunar Seventh Month. The first project to be launched after that period was the 158-unit 8@BT at Bukit Timah Link, which saw 53% of its units snapped up over the weekend of Sept 21-22 at an average price of $2,719 psf.In 3Q2024, new home sales jumped 60% q-o-q, according to Huttons, which marked a significant shift in sentiment that some attributed to the 50-basis point interest rate cut by the US Federal Reserve in September. This was followed by the launch of Meyer Blue on Oct 5, where over 50% of the 226 units were sold in private sales. Prices reached an average of $3,260 psf, setting a new benchmark for the prime District 15 area on the East Coast.Another notable performer was the 384-unit Norwood Grand in Woodlands, which saw an impressive take-up rate of 84% during its launch weekend in October. With units sold at an average price of $2,067 psf, it was the first time a project in Woodlands surpassed the $2,000 psf threshold.By November, things were reaching a fever pitch with the launch of six new projects comprising a total of 3,551 units. This began on Nov 6 with the release of the 367-unit The Collective at One Sophia, followed by the 366-unit Union Square Residences at Havelock Road on Nov 9. Things really took off over the weekend of Nov 15-16, when three projects were launched in concert: the 846-unit Emerald of Katong, the 552-unit Nava Grove, and the 504-unit Novo Place Executive Condo.Buoyed by the strong sales performance in November, total developer sales for the first 11 months of 2024 reached 6,344 units, and are expected to surpass 6,500 units by the end of the year. This would exceed the 6,421 units sold in 2023, showcasing the strength and resilience of the property market, according to Huttons Asia CEO Mark Yip.However, there are speculations about the possibility of further cooling measures being introduced, given the surprisingly high sales figures in November. According to JLL’s head of residential research, Chia Siew Chuin, despite the impressive figures, any government intervention is unlikely as long as the numbers do not show a sustained increase in sales or sharp increase in property prices outpacing GDP growth.

When looking into investing in a Singapore Condo, it is crucial to also evaluate the potential rental yield. This refers to the annual rental income as a percentage of the property’s purchase price. In the Singapore market, rental yields for condos can vary greatly depending on factors such as location, condition of the property, and overall demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, tend to offer better rental yields. It is essential to conduct thorough market research and seek the expertise of real estate agents to gain valuable insights into the rental potential of a specific Singapore Condo.…

New projects in the Rest of Central Region (RCR) and Outside Central Region (OCR) took the top spots in the list of best-selling new launches of 2024, as demand from upgraders was driven by a strong HDB resale market, according to Mark Yip, CEO of Huttons Asia.

Of the top 10 best-selling projects, three were launched in November and dominated by those in RCR and OCR.

Emerald of Katong emerged as the top-selling project of 2024, with 99% of its 846 units sold within just two days of its launch on November 15-16. With only six units available as of December 17, the 99-year leasehold development has proven to be a popular choice among buyers.

For the latest prices and available units, check out our listings for new launches.

The second spot on the list went to Chuan Park, a 916-unit development that saw 696 units (76%) sold in just a single day on November 10. As of December 17, the project has sold 79% of its units. This strong performance was attributed to the lack of new private condo launches in the neighbourhood since The Scala in 2010.

In third place is Lentor Mansion, with 75% of its 533 units sold during its launch weekend in March. Nine months later, the project has sold 92% of its units.

Nava Grove, a 552-unit development, came in fourth place, with 65% of its units sold during its launch weekend in mid-November. By December 17, the project was almost 70% sold.

Norwood Grand claimed fifth place, with 291 out of its 348 units (84%) taken since its launch in October.

One of the first projects to debut in 2024, Hillhaven, took sixth place with 50 units sold during its launch in January. By December 17, sales had gathered momentum and with 259 units (76%) sold, it has now moved up to sixth place.

Kassia on Flora Drive, a 276-unit freehold development, took seventh place with 180 units (65%) sold to date.

In eighth place is Lentoria, a 267-unit development located in Lentor Hills Estate which has seen its sales increase from 19% on its first weekend to 66%, with a total of 177 units sold since its launch in March.

The 440-unit Sora, located at Yuan Ching Road in Jurong Lake District, achieved 30% in sales, or 134 units, and ranks ninth in the list of best-selling projects.

Rounding out the top 10 is the freehold Meyer Blue, which sold 131 out of its 226 units (58%) through private sales.

Four projects launched in 2023 also gained significant traction due to the sales momentum in the second half of 2024, with each moving more than 200 units. These projects benefited from the launch of new developments in their respective neighbourhoods, which brought attention back to the area.

The biggest beneficiary of the launch of Emerald of Katong was The Continuum, a 816-unit freehold development at Thiam Siew Avenue. The project sold 233 units in 2024, with almost 60% of the sales happening since November. This brought the total take-up rate to 66% since its launch in May 2023.

Meanwhile, the 638-unit Tembusu Grand, located across from Emerald of Katong, enjoyed a 53% take-up rate during its launch weekend in April 2023. It has sold 204 units this year, with most of its sales happening after July when market sentiment improved in 3Q2024. As of December 17, Tembusu Grand has already sold 91% of its units, boosted by the buzz surrounding Emerald of Katong.

In addition, Hillock Green, a 474-unit development located in Lentor Hills Estate, also performed well. It achieved a take-up rate of 27.6% during its first weekend of sales in November 2023. In 2024, the project sold 217 units, bringing its cumulative sales to 359 units (76%). The launch of Lentoria and Lentor Mansion in March this year also helped drive interest in the project.

Lastly, Pinetree Hill, a 520-unit development, saw strong sales following the release of its second phase of units in September. The project sold 208 units this year, bringing its cumulative sales to 374 units (72%). Pinetree Hill was also boosted by the launch of Nava Grove in November, which helped generate interest in the residential enclave of District 21.

For more property news, resources and useful content like this article, check out PropertyGuru’s guides section. Are you looking for a new home? Head to PropertyGuru to browse the top properties for sale in Singapore.

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Largest Growth Rate in Best-Selling New Launches in 2024

Compared to last year, the best-selling new launches in 2024 saw a much larger growth rate, with the top 10 projects selling at least 50% more units than the top 10 projects for 2023. This indicates a strong rebound in the property market, with increased buying activity and demand from upgraders.

In 2023, the best-selling projects sold anywhere between 37% and 160% of their total units. In contrast, the top 10 projects in 2024 sold between 65% and 99% of their units, showing an increase in popularity and sales performance.

Moreover, the best-selling projects in 2024 generally had higher average prices per square foot (psf), with the exception of Nava Grove and Sora which had an average price of $2,448 psf and $1,164 psf, respectively.

Top 10 Best-Selling Projects in 2023 vs 2024

Rank 2023 Developments Units launched Cumulative sales (as of Dec 17) Take-up rate (%) Average price ($psf)

1 Marina One Residences 1,042 729 70% $2,438
2 Reflections at Keppel Bay 1,129 615 54% $2,144
3 Kallang Riverside 212 208 98% $1,687
4 Qbay Residences 630 379 60% $1,407
5 Hillview Peak 512 202 40% $1,371
6 Highline Residences 500 195 39% $2,080
7 Bartley Ridge 868 649 75% $1,386
8 Commonwealth Towers 845 588 70% $1,817
9 The Rise @ Oxley 120 76 63% $1,993
10 Poiz Residences 731 673 92% $1,440

Rank 2024 Developments Units launched Cumulative sales (as of Dec 17) Take-up rate (%) Average price ($psf)

1 Emerald of Katong 846 840 99% $1,970
2 Chuan Park 916 696 76% $2,582
3 Lentor Mansion 533 428 80% $2,093
4 Nava Grove 552 381 69% $2,448
5 Norwood Grand 348 291 84% $1,702
6 Hillhaven 341 259 76% $2,129
7 Kassia on Flora Drive 276 180 65% $2,127
8 Lentoria 267 177 66% $2,522
9 Sora 440 134 30% $1,164
10 Meyer Blue 226 131 58% N/A

Based on the number of units sold, three projects launched in November were among the top 10 best-selling projects. These were Emerald of Katong, Chuan Park, and Nava Grove. In comparison, 2023 saw no new launches in the top three spots.

The top 10 projects for 2024 all saw a higher take-up rate than the best-selling projects in 2023, showing a strong rebound in the market. Moreover, the best-selling projects in 2024 generally had higher average prices per square foot, with the exception of Nava Grove and Sora which had an average price of $2,448 psf and $1,164 psf, respectively.

Best-Selling New Launches by Region

Region Units sold Take-up rate (%) Average price ($psf)

RCR 4,214 76% $2,313
OCR 3,772 71% $1,781
CCR 1,316 62% $2,701

The top three regions in terms of units sold were the Rest of Central Region (RCR), Outside Central Region (OCR), and Core Central Region (CCR).

The CCR performed better than in 2023, with an average price per square foot (psf) of $2,701, compared to $2,217 psf in 2023. This likely reflects an increase in demand for luxury properties.

In contrast, the RCR and OCR saw a decrease in average prices, with an average price of $2,313 psf and $1,781 psf, respectively. This could suggest increased affordability in these regions and more attractive prices for buyers.

Singapore is facing a high demand for condos due to the limited availability of land. As a small island nation with a rapidly increasing population, there is a scarcity of land for development. To combat this issue, Singapore has implemented strict land use policies, creating a competitive real estate market where property prices are continually rising. As a result, the purchase of real estate, specifically condos, is an attractive investment opportunity with the potential for significant capital appreciation. This trend has also sparked the rise of new condo launches, catering to the growing demand for residential properties in Singapore.

Best-Selling Developments in RCR

Developments Units launched Cumulative sales (as of Dec 17) Take-up rate (%) Average price ($psf)

Norwood Grand 348 291 84…

As we draw closer to the year 2025, the landscape of Singapore’s built environment is expected to undergo significant transformation. This will call for the facilities management (FM) sector to adapt to changing regulatory demands, cost pressures, and technological advancements. In order to enhance its sustainability, three key drivers will play a crucial role in shaping the future of FM: the mandatory energy improvement regime, the impact of rising temperatures on energy costs, and the growing trend towards adaptive reuse in construction.

As you delve into the world of condo investment, it is crucial to take into account the maintenance and management of the property. Condominiums often come with a maintenance fee that covers the maintenance of shared spaces and amenities. Although these fees may contribute to the overall cost of ownership, they also guarantee that the property remains well-maintained and retains its value. Engaging a property management company can significantly assist investors in overseeing the daily operations and upkeep of their condos, ultimately creating a more hands-off investment. Additionally, for exceptional condos in Singapore, check out Singapore Projects.

One catalyst for energy efficiency in Singapore is the upcoming implementation of the Mandatory Energy Improvement regime, starting in the third quarter of 2025. This regime will require existing energy-intensive buildings to undergo energy audits and implement measures to improve energy efficiency. This mandate applies to commercial, healthcare, institutional, civic, community, and educational buildings with a gross floor area exceeding 5,000 sq m. The goal is to reduce energy usage intensity by 10% from pre-energy audit levels, which is achievable by implementing the right strategies. Asset owners are encouraged to take a medium to long-term view on these investments in energy-efficient systems as they can help prolong the lifespan of assets, reduce operating costs, and contribute to a more sustainable built environment. Building owners can also take advantage of grants to cover the costs of energy efficiency upgrades.

An excellent example of a smart and sustainable FM approach is demonstrated by Temasek Polytechnic, Singapore’s first smart campus. They have taken the bold step of digitizing their campus operations, which offers valuable insights into the future of FM. Their smart campus relies on a suite of solutions that digitize various operations, such as facility booking, automating campus repair and maintenance work orders, and crowd management and temperature control measures. These systems are integrated into a common data environment, generating valuable data that is visualized, tracked, and monitored at a control center on campus. This allows campus operations teams to make informed decisions to keep building operational systems healthy and maximize the return on investment in these assets while reducing operational carbon levels.

Furthermore, with the mandatory climate disclosure obligations being imposed on all listed and large non-listed companies with revenues of at least $1 billion and total assets of at least $500 million by 2027, there will be a push for energy efficiency across the board.

Rising temperatures and energy costs will also drive investments in predictive technology for buildings. As temperatures increase, there will be a higher demand for cooling systems, which already contribute to a significant portion of operational costs. To mitigate these rising energy costs, building owners can implement energy-efficient solutions such as energy recovery systems or thermal energy storage. Moreover, optimizing chiller plant operations to match changing weather conditions can reduce energy waste and costs.

At the city and precinct level, extreme weather risks, such as flooding and urban heat, can pose a threat to critical infrastructure like drainage and plumbing systems. To combat these risks, building owners and city planners can leverage web-based geospatial IT to identify flood-prone areas or heat-exposed spaces and develop a comprehensive operational plan. Singapore has had several flash flood incidents, causing significant damage to properties. Having a clearer understanding of climate change risks can help mitigate these damages and ensure the smooth running of precincts.

Another trend emerging as a response to rising costs is the shift towards adaptive reuse, with the rate of redevelopment in Singapore accelerating in the past five years. According to Surbana Jurong, mechanical and electrical costs have increased by approximately 30% compared to pre-pandemic levels due to various factors such as increased logistic shipping costs (up 77%), labor costs (up 9%), and construction materials prices (such as copper, up 15%). This trend is driving the adoption of smart design and engineering practices, including utilizing collaborative common data environments to benchmark construction and operational costs.

Platforms like Podium, which support integrated digital delivery, enable real estate developers and contractors to gain real-time insights into key performance indicators such as time, cost, quality, and safety. Podium aims to provide a digital ecosystem that connects developers, designers, and the supply chain to deliver high construction productivity and promote sustainable building practices. By consolidating data from multiple sources, all stakeholders involved in the various stages of the building cycle can access valuable data on design, civil and structural engineering plans, construction materials, and components. This information can be used to drive sustainability goals, such as reducing embodied carbon levels. Additionally, data on structural frames, superstructures, and foundations can help building owners decide whether to redevelop or reuse them, applying the adaptive reuse approach. Retaining these structural elements can result in significant savings in material, time, and labor costs.

Post-construction, Podium can integrate with other operational platforms to track building performance metrics, such as energy, waste, water, indoor air quality, and occupancy trends, to drive operational carbon reduction goals. As chiller plants are a major contributor to operational costs, especially in the utility cost category, which makes up about 60% of total operational expenditure, Podium can also optimize the life cycle of capex-heavy equipment, such as ACMVs, lifts, and air handling units. This is done through a data-driven long-term life cycle approach, prioritizing energy savings to offset energy tariffs from the initial investment in these assets. By providing stakeholders with detailed data on the performance of each component, building owners can make informed decisions about retrofitting or replacing systems, which can be prohibitively expensive. For example, sensors can be deployed to monitor vibrations in chiller equipment, indicating wear or potential failure. Similarly, thermographic testing using heat-sensing scanners and imaging equipment can detect abnormal temperatures or heat buildup in the system. AI-powered smart monitoring systems can also be deployed to track the performance of various building components, providing valuable data for asset owners to make informed decisions about maintenance and replacement.

In conclusion, the future of FM in Singapore will be shaped by regulatory demands, cost pressures, and technological advancements. By embracing digitalization, data analytics, and sustainable practices, the sector can drive sustainability, reduce costs, and ensure long-term operational success. This can be achieved through the adoption of smart and sustainable design and engineering practices, leveraging digital platforms like Podium, and utilizing data to make informed decisions in the management and maintenance of buildings. With these strategies in place, the built environment in Singapore can continue to thrive and become even more sustainable in the coming years.…

To sum up, opting to invest in a Singapore condo presents a multitude of benefits. These include a high demand for properties, potential for appreciation in capital and appealing rental yields. However, it is critical to take into account various factors such as location, financing options, government regulations, and market conditions. Through conducting extensive research and seeking expert guidance, investors can make well-informed decisions and maximize their returns in Singapore’s ever-evolving real estate market. Whether you are a local investor seeking to expand your portfolio or a foreign buyer in search of a stable and profitable investment, Singapore condos offer a compelling opportunity. If you are interested, check out Singapore Condo for more information.

such as The MeyeriseFreehold condo The Meyerise fetches $5.03 mil profit

The Meyerise, a freehold condo, claimed the top spot for private condos in the week of Nov 29 to Dec 6 when a three-bedroom unit was sold for a new price peak of $2,771 psf. The record surpasses the development’s previous price high by 0.25%. The Meyerise was completed in 2015 and is made up of 239 units. It is located on Meyer Road in prime District 15 and is within 1km of Tanjong Katong MRT Station and Katong Park MRT Station. Nine units at the development have changed hands this year with an average price of $2,405 psf. The second highest record for a private condo during this time belongs to The Imperial on Jalan Rumbia in prime District 9. A three-bedroom unit was sold for $2,624 psf which surpasses its previous record by 2.3%. The third spot goes to Sky Vue on Bishan Street 15 in District 20. A three-bedroom unit was sold for $2,505 psf which is 5.9% higher than its previous record set in August. Four Seasons Park in District 10 also set a new price peak of $3,451 psf when a 2,336 sq ft unit was sold for $8.06 mil. The condo is a 99-year leasehold project with 202 units of two- to four-bedroom apartments. It was completed in 1994 and is located in a prime area with easy access to Orchard Road and the Central Business District.…

The recent resale of a six-bedroom penthouse at JadeScape has set a new record for the most profitable condo transaction in the week of Dec 3 to Dec 10. The 4,230 sq ft unit, located on the 23rd floor of the 99-year leasehold condo on Shunfu Road, was sold for $10.15 million ($2,399 psf) on Dec 9. The seller had originally purchased the unit directly from the developer in December 2019 for $5.8 million ($1,371 psf) and has therefore made a profit of $4.35 million after just five years of ownership. This translates to a capital gain of 75% or an annualised profit of 15%.

The scarcity of land in Singapore, a tiny island nation with a rapidly growing population, is one of the primary driving forces behind the high demand for condos. Due to limited space for development, the government has implemented strict land use regulations, resulting in a highly competitive real estate market. As a result, property prices have consistently risen, making real estate investments, particularly in condos, a lucrative opportunity with the potential for significant returns. The increasing popularity of condos has solidified their position as a hot commodity in the Singaporean real estate market, with buyers vying for the limited supply of these coveted properties. Condo investments are sought after for their potential for capital gains, making them a desirable choice in Singapore’s competitive real estate market.

According to data from caveats lodged, this is the highest gain ever achieved for a unit at JadeScape. The previous best resale deal at the development was for a five-bedroom unit on the 10th floor, which fetched $4.42 million ($2,108 psf) on Aug 12. That unit had been purchased from the developer just one month earlier in September 2019 for $3.28 million ($1,562 psf), resulting in a profit of $1.14 million for the seller.

Located at the junction of Marymount Road and Shunfu Road in District 20, JadeScape consists of seven residential towers with a total of 1,206 units. The units range from one- to five-bedrooms, with sizes from 527 sq ft to 2,099 sq ft. There are also two penthouses measuring 4,230 sq ft. The condo is conveniently situated within walking distance to Marymount MRT Station on the Circle Line.

In terms of resale transactions this year, JadeScape has seen 72 other deals with prices ranging from $1,955 psf to $2,420 psf. All of these transactions have been profitable, with sellers making gains of between $55,000 and $1.15 million each. The second most profitable resale deal this week was for a 1,410 sq ft unit at The Imperial, which was sold for $3.7 million ($2,624 psf) on Dec 5. The seller had originally bought the unit from the developer for just $1.3 million ($925 psf) in September 2004, making a profit of $2.4 million (184%) after holding on to it for 20 years.

The Imperial is a freehold development completed in 2006, and it is located on Jalan Rumbia in District 9 near Fort Canning Park. The condo consists of five blocks with a total of 187 units, including two-, three-, and four-bedrooms ranging from 980 sq ft to 3,918 sq ft. It is within walking distance to Fort Canning MRT Station on the Downtown Line, as well as the Dhoby Ghaut MRT Interchange serving the North-South, North-East, and Circle Lines.

On the other hand, the least profitable resale deal this week was for a one-bedroom unit at The Montana, which was sold for $1.02 million ($1,603 psf) on Dec 6. The unit had last changed hands in July 2014 for $1.18 million ($1,863 psf), resulting in a loss of about $165,000 for the seller. This ranks as the third largest loss for a unit at The Montana, with the biggest loss being for a 1,109 sq ft three-bedroom unit that was sold for $1 million ($902 psf) in May 2003. That unit had been purchased from the developer in December 1999 for $1.35 million ($1,215 psf), resulting in a loss of approximately $347,000 for the seller.

The Montana is a freehold condo located on Jalan Mutiara, off River Valley Road in District 10. It was completed in 2002 and has just one 12-storey block with a total of 108 units, including one- to four-bedrooms ranging from 549 sq ft to 2,659 sq ft. There have been four other resale transactions at The Montana this year, all of which were profitable. The units were sold for between $1,930 psf and $2,371 psf, with profits ranging from $80,000 to $525,000.…

CapitaLand Ascendas REIT (CLAR) has announced plans to acquire the DHL Indianapolis Logistics Center, a prime Class A logistics property, from Exel Inc. d/b/a DHL Supply Chain (DHL USA) for $150.3 million. This is a 4.1% discount to the independent market valuation of the property as of January 1, 2025.

After taking into account transaction-related fees and expenses of $1.7 million, as well as a $1.5 million acquisition fee paid to the manager, the total acquisition cost will amount to $153.4 million. The manager intends to fund the acquisition cost through a mix of internal resources, divestment proceeds, and/or existing debt facilities, according to a press release issued on December 17.

Upon completion of the acquisition, DHL USA will enter into a long-term leaseback agreement until December 2035 covering the entire gross floor area (GFA) of the property, with options to renew for two additional five-year terms. The lease term of approximately 11 years, with a built-in rent escalation of 3.5% per annum, will provide income stability and strengthen the resilience of CLAR’s portfolio, according to the manager.

This fully occupied property, with a weighted average lease to expiry (WALE) of around 11 years, will increase CLAR’s portfolio WALE in the US from 4.2 years to 4.7 years on a pro forma basis.

Based on the proposed acquisition, the first-year net property income (NPI) yield is approximately 7.6% pre-transaction costs and 7.4% post-transaction costs. The estimated impact on the distribution per unit (DPU) for the financial year ended December 31, 2023 is expected to be an improvement of around 0.019 Singapore cents, or a DPU accretion of 0.1%, assuming the completion of the acquisition on January 1, 2023.

The property, which is expected to be completed in 2022, is located in Whiteland, Indianapolis, Indiana. It is a fully air-conditioned, single-storey logistics building with a GFA of 979,649 square feet. The acquisition will boost the value of CLAR’s logistics assets under management (AUM) in the US by 35.3% to approximately $587.5 million. With this acquisition, CLAR’s logistics footprint in the US will expand to 20 properties across four cities with a total GFA of approximately 5.1 million square feet.

Singapore’s cityscape is characterized by towering skyscrapers and state-of-the-art infrastructure. The city’s prime locations are home to a variety of condominiums that offer a perfect blend of opulence and convenience, making them highly desirable for both Singaporeans and expatriates. These condos boast an array of facilities, including swimming pools, fitness centers, and top-notch security services, elevating the standard of living and making them a sought-after choice for potential tenants and buyers. Moreover, for investors, these amenities translate into promising rental yields and increasing property values over time. Explore the latest Singapore projects at Singapore Projects and discover the ultimate fusion of luxury and practicality.

William Tay, executive director and CEO of the manager, said, “The DHL Indianapolis Logistics Center is a strategic fit with our existing portfolio… This is CLAR’s first sale and leaseback acquisition in the US, and including this Class A logistics property, modern logistics assets will account for 42.3% of our US logistics assets under management. With the long lease in place, this property will further enhance CLAR’s resilient income stream, and we expect the two new properties to contribute positively to our long-term returns.”

In addition to this latest property in Indianapolis, CLAR’s logistics assets in the US are located in Kansas City, Chicago, and Charleston.…

Posted on January 1, 2022Wee Hur Holdings has agreed to sell its portfolio of seven purpose-built student accommodation (PBSA) assets to Greystar for A$1.6 billion ($1.4 billion). The sale, which is expected to be completed within the next six months, will see Wee Hur retain a 13% stake in the portfolio through its subsidiary, Wee Hur (Australia).

In summarizing, the decision to invest in a Singapore Condo comes with a host of benefits. These include a high demand in the market, potential for increased value over time, and attractive rental yields. Nevertheless, it is crucial to carefully evaluate various factors such as the condo’s location, financing options, government regulations, and prevailing market conditions. With thorough research and guidance from experts in the field, investors can make well-informed choices and optimize their returns in Singapore’s ever-evolving real estate industry. Whether you are a local investor seeking portfolio diversification or a foreign investor in search of a secure and lucrative investment, Singapore Condos present a compelling opportunity to consider.

Wee Hur Holdings, a leading property developer, has announced the sale of its portfolio of seven purpose-built student accommodation (PBSA) assets to Greystar for A$1.6 billion ($1.4 billion). This deal, which is expected to be completed within the next six months, will see Wee Hur retain a 13% stake in the portfolio through its subsidiary, Wee Hur (Australia).

With a total of over 5,500 beds in several Australian cities, Wee Hur’s PBSA portfolio has been a major contributor to the group’s success. However, the decision to sell the portfolio reflects the company’s long-term strategy and ongoing efforts to diversify its portfolio and position itself for sustainable growth in multiple sectors.

The net proceeds from the sale, which are estimated to be around $320 million, will be used to support Wee Hur’s strategic growth, reinvest in its core businesses, and expand into new areas such as alternative investments. This will not only increase the company’s liquidity but also provide it with the necessary resources to navigate through uncertain market conditions.

The sale also highlights Wee Hur’s resilience in tackling challenges posed by the Covid-19 pandemic and greenfield developments. The company has successfully weathered these difficulties, and this transaction is a testament to its ability to adapt and thrive in complex market conditions.

Goh Wee Ping, CEO of Wee Hur Capital, says, “In 2021/2022, amidst global uncertainty, we acted decisively to secure liquidity and certainty through our successful recap with RECO. Two years later, as the PBSA market rebounded and our portfolio approached full stabilisation, we capitalised on yet another opportunity to unlock maximum value for our stakeholders through this landmark transaction.”

The sale is subject to Greystar obtaining Foreign Investment Review Board (FIRB) approvals and Wee Hur obtaining consent from its shareholders. Wee Hur has assured that it will work closely with all parties involved to complete the transaction within the stipulated timeline.

This latest development marks another significant milestone for Wee Hur as it continues to strengthen its position in the real estate market. It also demonstrates the company’s commitment to delivering value to its stakeholders and pursuing growth opportunities.…