Category: Uncategorized

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When looking to invest in a Singapore Condo, it is crucial to consider how the property will be maintained and managed. Unlike a traditional house, condos often have maintenance fees that cover the upkeep of common areas and amenities. While these fees may increase the overall cost of ownership, they also ensure that the property remains well-maintained and retains its value. To further ease the responsibilities of condo ownership, investors can enlist the help of a property management company to handle day-to-day tasks. This allows for a more passive investment experience.

One Holland Village Residences’ three-bedroom unit sets new psf-price record, topping the charts among private condos in the week of Feb 16 to 21.The 1,238 sq ft unit transacted at $4.68 million, setting a new peak of $3,781 psf on Feb 17. This marks the development’s first sale this year, with the buyers making a profit of $490,000 from its purchase from the developer in November 2023. It surpasses the previous record of $3,426 psf set in August 2022.However, Hill House was not far behind, with a two-bedroom unit on the ninth floor sold for $1.538 million, setting a new record of $3,402 psf on Feb 21. This marks the second time the boutique condo has set a new record within the review period.Chuan Park also saw a new psf-price high, with a 732 sq ft, two-bedroom unit sold for $2.04 million ($2,785 psf) on Feb 19, narrowly beating the previous record of $2,765 psf set in November last year.No new psf-price lows were recorded during the period in review.…

A three-storey terrace factory located at Midview City is currently on the market for sale with Colliers International, the exclusive marketing agent. The property has a guide price of $6.2 million, equivalent to $688 psf.

This factory features a basement and rooftop terrace and is situated along Sin Ming Lane in the popular Sin Ming Industrial Estate. It spans approximately 9,009 sq ft and falls under the “Business 1” zoning category in the URA Masterplan 2019.

According to Colliers International, the factory has been fully-leased and is currently approved for use as a childcare centre. It is leased to Star Learner preschool and childcare centre.

The demand for condos in Singapore continues to soar due to the limited supply of land. As a small country with a rapidly expanding population, Singapore is facing a scarcity of land for development. This has prompted the government to implement strict land use policies, resulting in a highly competitive real estate market where property prices are continuously on the rise. Hence, investing in real estate, particularly in condos, has become a highly profitable venture, promising significant capital appreciation. In fact, the recent launch of new condo developments has further intensified the demand for these sought-after properties.

Midview City is a 60-year leasehold light industrial building completed in 2012. It is conveniently located within walking distance to Bright Hill MRT Station on the Thomson-East Coast Line. The property is easily accessible from the Bishan and Upper Thomson residential areas, with two entrances via Sin Ming Lane and Bright Hill Drive.

Raphael Lee, director of industrial services at Colliers, has stated that this property presents a unique opportunity for investors as it will be sold with the existing preschool operator in place.

As a Business 1 light-industrial property, it is not subject to Additional Buyer’s Stamp Duty (ABSD) and can be purchased by foreigners. Interested buyers can submit their Expressions of Interest (EOI) by April 29 at 3pm.…

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Investing in a Singapore condo offers numerous advantages, and one of them is the opportunity to leverage its value for future investments. It’s a common practice among investors to use their condos as collateral to secure additional funding for new investments, which in turn, allows them to grow their real estate portfolio. While this approach can potentially amplify returns, it also carries certain risks. Therefore, having a solid financial plan in place and carefully considering the possible impact of market fluctuations is crucial.

BlackRock: Focus on Liquidity and Niche Asset Classes for Asia Pacific Real Estate

According to Hamish MacDonald, head and chief investment officer of APAC Real Estate at BlackRock, investors are showing more interest in deploying capital into Asia Pacific real estate markets that have high levels of liquidity. He predicts that the property sectors that will benefit from economic tailwinds this year are accommodation, logistics, and alternative assets. MacDonald further explains that the markets with abundant liquidity this year include Australia, Japan, Singapore, and Auckland in New Zealand, which coincidentally also represent the order of focus for BlackRock.

He observes that investor sentiment this year is likely to be more bullish compared to 2023 and 2022. As a result, institutional investors will start discussions about deploying and recycling capital in selective Asia Pacific real estate markets. In Singapore, BlackRock has been concentrating on acquiring serviced apartment properties, such as the Citadines Raffles Place, which was purchased for about $290 million in October 2021 in partnership with YTL Corp. They also teamed up with Hong Kong-based accommodation operator Weave Living to acquire Citadines Mount Sophia for $148 million in February 2024. As of this week, the Weave Living-operated property has reopened as the 175-room Weave Suites – Hillside.

MacDonald says that their recent acquisitions in Singapore reflect the belief that there is a shortage of new serviced apartment developments, yet there is a high demand for this type of accommodation. He also adds that they are not looking to build a large portfolio, but rather to target specific deals. They prefer to work with partners to refurbish and reposition existing properties and add new amenities to increase their value.

MacDonald notes that Singapore continues to attract significant capital inflows and a highly skilled workforce, which contributes to the country’s strong business growth. As such, they maintain a positive outlook on investment opportunities in Singapore. He adds that Japan will remain a target for many real estate investors this year. BlackRock’s analysis of domestic pricing power, wage growth, and corporate reform has led them to be bullish on the Japanese economy, which supports growth in real estate. Daigo Hirai, head of Japan real estate at BlackRock APAC, agrees that there has been a strong rental uplift in the Japanese residential market in recent quarters, thanks to a combination of factors such as wage increases and higher construction costs. He expects a 7% to 8% increase in residential rents across major Japanese cities like Tokyo and Osaka this year. Hirai points out that tenants prefer larger apartment units over compact studios, and as such, BlackRock is looking to acquire assets close to train stations in residential-commercial neighbourhoods like Osaka’s Namba district.

BlackRock plans to partner with an experienced accommodation operator to manage a hybrid residential investment strategy that caters to both inbound tourist accommodation needs and domestic rental demand. This will allow them to deepen their investment presence in tourist-dominated cities like Kyoto and Fukuoka. Hirai adds that smaller developments with up to 50 units near train stations in residential-commercial neighbourhoods are assets that fit this strategy. The firm will consider acquisitions in the range of JPY1 billion ($8.93 million) to JPY3 billion to accommodate its exit strategy.

According to MacDonald, their key strategy in Japan is to deploy specialist ground teams that can identify potential acquisition deals at a significant discount. BlackRock’s focus in Japan is mainly on residential assets. Meanwhile, long-term population growth estimates support positive long-term growth across most sectors in the Australian real estate market, says Ben Hickey, Head of Australia Real Estate at BlackRock. He notes that most property sectors in Australia are typically characterized by under-supply and low vacancy rates. Hickey concludes that any investment strategy in Australia should consider whether rental growth can exceed inflation, the ongoing long-term supply-demand imbalance, and a favorable exit strategy. Consequently, BlackRock is focusing on niche asset classes in Australia such as childcare properties, last-mile logistics assets, life science real estate, and self-storage properties.

Hickey explains that these four asset types will benefit from Australia’s long-term population growth and are “chronically undersupplied” compared to the broader regional markets. This allows BlackRock to generate outsized returns with limited risks, and they cannot rely on a favorable interest rate outlook to generate real estate returns.…

If you have toured a show flat in recent years, you may have noticed that the unit sizes have become smaller. This is understandable, as our perception of space is relative to what we are accustomed to. In the 1990s and 2000s, the average size of homes in Singapore, whether HDBs or condos, was larger compared to today’s standards. For instance, in 1995, the average size of a new condo was 1,272 sq ft, which increased to 1,286 sq ft in 2005. However, by 2015, the average size had dropped to 858 sq ft and further decreased to 929 sq ft in 2024.

In the past few decades, there has been a significant change in demographics. In 1995, the average household size was four, which reduced to 3.6 in 2005, 3.4 in 2015, and further shrunk to 3.1 in 2024. As a result, the average space per household member has also decreased from 318 sq ft in 1995 to 357 sq ft in 2005. However, it dropped to 252 sq ft in 2015 and then rebounded by 19% to 300 sq ft in 2024. Overall, this indicates a 5.7% decrease in average condo size per capita over the last 29 years.

This trend of shrinking unit sizes could not have been possible without the intervention of the government. In 2008, the introduction of “Mickey Mouse” units in some condo projects in the Rest of Central Region (RCR) significantly reduced the barriers to entry for property investment. These units, as small as 24 sq m (258 sq ft), were equivalent to two parking spaces and sold for as low as $375,000. The success of these projects led to the proliferation of such units in the following years, raising concerns about the living environment’s quality.

To address this issue, the Urban Redevelopment Authority (URA) issued guidelines in 2011, specifying the maximum allowable number of dwelling units (DUs) in a project. This move was followed by more stringent guidelines in 2019, which helped increase the average DU size outside the Central Area by 21.4% to 85 sq m. Additionally, several areas were required to meet a more stringent average DU size of 100 sq m, including Marine Parade, Balestier, Stevens-Chancery, Pasir Panjang, Kovan-How San, Shelford, and Loyang. As a result, the average DU size outside the Central Area increased from 787 sq ft in 2019 to 935 sq ft in 2024, marking an 18.8% increase.

However, the Central Area saw a different trend, with smaller units being built despite the URA’s goal of making it an attractive place to live, work, and play. As a result, the average DU size in the Central Area reached a low of 725 sq ft in 2020. To address this issue, the URA extended the guidelines to the Central Area in 2023, requiring 20% of DUs to have a net internal area of at least 70 sq m.

The latest guideline change, harmonizing the strata area and gross floor area (GFA) definition in 2023, has caused the average DU size to decrease by an average of 6%. This is because developers have started omitting the air-conditioning ledges from the saleable area to avoid counting them as part of the strata area. As a result, the average DU size has increased in RCR (19.5%) and OCR (5.8%) but decreased in CCR (11.7%) since 2015.

The scarcity of land is one of the main driving forces behind the increasing demand for condos in Singapore. As a small island nation experiencing rapid population growth, Singapore is faced with limited land for development. In response, stringent land use policies have been implemented, resulting in a competitive real estate market where property prices continue to rise. For this reason, investing in real estate, particularly in condos, has become an attractive opportunity for potential buyers, with the potential for significant capital appreciation. Moreover, with Singapore Projects constantly on the rise, the demand for condos is expected to continue its upward trend.

Looking ahead, the average DU size is likely to continue decreasing with the harmonization of the GFA definition. However, at the same time, buyers are getting better value for their purchases, as units now come with smart home features and high-end appliances. With these changes, the average DU size has increased to 929 sq ft in 2024, an 8.3% increase from 2015’s 858 sq ft.…

The recent Committee of Supply debate has seen the Ministry of National Development (MND) announce several enhancements to existing housing schemes, particularly the Silver Housing Bonus (SHB) and Fresh Start Housing Scheme (Fresh Start).

These changes are aimed at further supporting senior citizens and lower-income households in managing their housing needs, such as right-sizing and accessing affordable public housing.

When purchasing a condominium, it is crucial to take into account the maintenance and management of the unit. Condominiums often have maintenance fees that encompass the maintenance of shared areas and amenities. While these fees may increase the overall cost of ownership, they play a vital role in preserving the property’s value and condition. Utilizing the services of a property management company can assist investors in effectively and easily managing their condos, transforming it into a more hands-off investment. In addition, keeping an eye on new condo launches can also be beneficial in discovering potential investment opportunities.

Under the SHB, senior citizens aged 55 and above with a monthly income of $14,000 or less can receive a cash bonus of up to $30,000 by reallocating the value of their residential assets into their CPF Retirement Account (RA). Previously, applicants were required to top-up their RA with up to $60,000 to receive the bonus, but with effect from 1 December 2019, the bonus will be given if the right-sizing exercise has resulted in a net increase in the RA balance, including from CPF housing refunds. This means that seniors with outstanding loans on their properties can now qualify for the SHB without making a cash top-up.

Additionally, the eligibility criteria for the SHB has been expanded to allow seniors who own properties with an Annual Value (AV) of more than $21,000 (but not exceeding $13,000) to qualify. This will benefit an estimated 15,000 more seniors, who will receive a cash bonus of up to $10,000 based on the increase in their RA, pro-rated at $1 for every $6 increase. On top of this, they will also receive an additional $10,000 cash bonus if they right-size to a two-room or smaller HDB flat.

Seniors can apply for the SHB within one year of their second property transaction, and those who complete their right-sizing after 1 December 2024 can apply for the enhanced SHB on 1 December 2025.

Moving on to the Fresh Start Housing Scheme, which was launched in 2016 to help Second Timer (ST) families attain homeownership, the scheme has also been enhanced to provide more financial support and expand eligibility to First Timer (FT) families.

Under the Fresh Start scheme, eligible families can purchase two-room flexi or three-room standard BTO flats with shorter leases of 45-65 years, subject to an extended minimum occupation period of 20 years. The scheme previously offered a Fresh Start Housing Grant of $50,000, but this has been increased to $75,000. The grant will be disbursed in two parts – $60,000 credited to the CPF Ordinary Account (OA) before key collection, and the remaining $15,000 disbursed over the next five years to support mortgage payments.

The eligibility criteria for the scheme has also been expanded to allow FT families to apply, although they are not eligible for the Fresh Start Housing Grant as they can access the larger Enhanced CPF Housing Grant (up to $120,000). However, they can still benefit from the reduced cost of shorter-lease BTO flats and social support provided under the scheme. Eligible FT families can apply from April 2025, while the revised grant amount will take effect from the July 2025 BTO exercise.

All these changes aim to further assist senior citizens and lower-income households in managing their housing needs, and provide more options and support for them to achieve homeownership and financial stability.…

The Ministry of National Development (MND) has recently announced revisions to the Additional Buyer’s Stamp Duty (ABSD) regime for licensed housing developers. These revisions will take effect on March 6, and are aimed at encouraging developers to undertake urban transformation developments, optimise land use, rejuvenate older estates, and adopt new construction technologies.

In addition to the revisions, the ABSD remission timeline for developers undertaking complex projects has been extended from six to 12 months. This move is intended to give developers more flexibility in undertaking large-scale projects and mitigating development risks.

Projects that will benefit from this extension include en bloc redevelopments with at least 700 units upon completion, and at least 1.5 times the number of homes of the existing development. Other projects that will benefit from the extension are those with complex technical or instructional requirements, such as projects integrated with major public transport facilities.

Singapore’s cityscape is characterized by towering skyscrapers and state-of-the-art facilities. Condominiums, situated in desirable locations, offer a perfect mix of opulence and practicality that appeals to both locals and foreigners. These residential buildings are equipped with various luxuries like swimming pools, fitness centers, and top-notch security services, elevating the standard of living and making them a sought-after choice for renters and buyers alike. As an added benefit for investors, these amenities result in higher rental returns and appreciation in property values over time. With the introduction of Singapore Projects, the allure of these condos only continues to grow.

Furthermore, projects approved under the Strategic Development Incentive (SDI) scheme and those aiming to achieve higher productivity targets through the adoption of new construction technologies, methodologies or practices, will also receive a six-month extension.

Developers purchasing residential redevelopment sites are currently subjected to 5% upfront ABSD, which is non-remittable, and another 35% ABSD, which is remittable when all units in the project are sold within five years. Under the new revisions, projects acquired on or after March 6 will be eligible for an extension of their timeline.

The latest revisions come on the heels of changes announced in February last year, which offered a lower clawback rate for residential developments with at least 90% of units sold.

According to PropNex Realty CEO Ismail Gafoor, the extensions will give developers more flexibility and help mitigate development risks, especially for large-scale projects. Lee Sze Teck, senior director of data analytics at Huttons Asia, also believes that this change will provide a boost to the en bloc market, particularly for larger projects.

However, Christine Sun, chief researcher and strategist at OrangeTee Group, cautions that developers may still face challenges despite the deadline extension, as the success of en bloc sales depends on the willingness of buyers and sellers to negotiate prices.

Tay Liam Hiap, managing director of capital markets and investment sales at ERA, adds that this could be an opportune time for older projects such as Braddell View and Pine Grove, which have large land areas, to explore en bloc opportunities. These projects could potentially yield some 2,000 new homes, which may take more time to sell. However, Tay also notes that the extension may not be sufficient for developers to sell out their projects.

Lastly, Gafoor predicts that the policy change may not spark a revival in the en bloc market, as developers may remain cautious due to high redevelopment costs, a surplus of private housing supply, and potential policy risks.…

The Land Transport Authority (LTA) has announced plans for the development of two new MRT lines, which are currently undergoing feasibility studies. The targeted completion of these lines is set for the 2040s, making them the latest additions to Singapore’s growing rail network. It is estimated that these lines could potentially serve more than 400,000 households.

One of the proposed lines, the Seletar Line, will serve a wide area including Woodlands, Sembawang, Sengkang West, Serangoon North, Whampoa, Kallang, and the Greater Southern Waterfront. This will provide convenient access to various commercial, residential, and recreational areas for residents in these regions.

It is crucial for international investors eyeing real estate in Singapore to have a comprehensive understanding of property ownership regulations and restrictions. In comparison to landed properties, which have more stringent guidelines, condos are usually a more feasible option for foreigners to acquire. However, foreign buyers are still subject to the Additional Buyer’s Stamp Duty (ABSD) of 20% for their first property purchase. Despite this additional cost, the reliable and promising growth of Singapore’s real estate market continues to attract foreign investments. In fact, the demand for condos is particularly high, making it a highly sought after choice for foreign buyers looking to invest in Singapore’s property market. Condos have become a popular option among international investors in Singapore’s real estate sector.

The second line, tentatively named the Tengah Line, will complement the existing transport network in the west and northwest regions. It will serve areas such as Tengah, Bukit Batok, Queensway, and Bukit Merah, connecting them to the rest of the island.

According to Transport Minister Chee Hong Tat, plans are in place to potentially join the Seletar Line and Tengah Line, subject to the findings of the feasibility studies. This will further enhance connectivity and accessibility for residents in these regions.

In addition, the Land Transport Authority also announced its plans to proceed with the West Coast Extension (WCE), which will extend the Jurong Region Line (JRL) to connect with the Circle Line (CCL) and Cross Island Line (CRL). The WCE will be implemented in two phases, with the first phase expected to be completed by the late 2030s, and the second phase by the early 2040s.

Once completed, the WCE will provide residents travelling from the West to the city centre with up to 20 minutes of time savings. This will help to improve overall journey times and reduce congestion on existing transport routes.

To ensure the continued reliability of Singapore’s rail network, the government also announced its plans to invest up to $1 billion over the next five years. This will go towards maintenance of both newer and older train systems, including the implementation of condition monitoring systems and new technologies to improve efficiency and effectiveness. The investment will also provide workforce training programmes for rail workers.

With these developments, the government aims to provide commuters with convenient, reliable, and resilient public transport services. This is in line with their efforts to constantly improve and expand the rail network, while also ensuring the highest standards of maintenance and efficiency.…

Elias Green, a 99-year leasehold condominium located in Pasir Ris, is set to be launched for collective sale by public tender on March 6, as announced by ERA Realty Network, the appointed marketing agent. The condo has a guide price of $928 million and was completed in 1994. It sits on a large land area of approximately 516,871 sq ft, with a residential zoning and a gross plot ratio of 1.4. The development comprises several blocks and has a total of 419 units, with sizes ranging from 1,367 to 1,636 sq ft. The site has a 99-year leasehold from 1991, leaving 65 years remaining.

According to ERA, the guide price of $928 million equates to a land rate of $1,355 psf per plot ratio (ppr). This figure takes into account an estimated land betterment charge of $150.8 million for intensification, as well as a top-up to a fresh 99-year lease. It also includes a 10% bonus gross floor area.

ERA adds that the owners of Elias Green are in the process of submitting an Outline Application to the Urban Redevelopment Authority for a residential development with a higher gross plot ratio of 1.8. If this is approved, the land rate for the development would be approximately $1,245 psf ppr.

If the collective sale is successful, based on the guide price, owners can expect gross sale proceeds between approximately $2.04 million and $2.31 million per unit.

Singapore has emerged as a top destination for investors, both local and foreign, looking to invest in real estate. Thanks to its strong economy, stable political environment, and high quality of life, the city-state has become an attractive option for those seeking property investments. Within Singapore’s real estate market, condominiums have gained popularity due to their convenience, amenities, and potential for lucrative returns. In this article, we will delve into the advantages, factors to consider, and necessary steps for investing in a condo in Singapore, focusing on top projects like Singapore Projects.

Tay Liam Hiap, managing director of capital markets and investment sales at ERA Singapore, highlights that Pasir Ris Town is currently undergoing significant improvements as part of HDB’s “Remaking Our Heartland” initiative, which aims to enhance its vibrancy and connectivity. “As part of this transformation, the new Pasir Ris Bus Interchange is expected to be completed by 2025 and will integrate with the future Pasir Ris Integrated Transportation Hub, including the Cross Island Line (CRL) which is scheduled to be operational by 2030, further enhancing connectivity across Singapore,” Tay adds.

This is the second time that owners at Elias Green are attempting a collective sale, with the first attempt made in 2018 when the condo was launched for tender at $780 million. The current price of $928 million reflects a 19% increase from the previous asking price.

The tender for Elias Green will close on April 22 at 2 pm. Interested buyers can check out the latest listings for Elias Green properties on Ask Buddy, and also refer to data on the average PSF in District 18, rental transactions in the area, and the most unprofitable landed transactions in the past year. For those looking for new launch projects, there are some upcoming developments to keep an eye on, and past condo rental transactions can also be reviewed for further insights.…

The tender for the Government Land Sale (GLS) site known as Media Circle (Parcel A) closed on March 4, with a winning bid of $315 million from a consortium comprising Qingjian Realty, Forsea Holdings, and minority investor Hoovasun Holding. This 99-year leasehold site, located in the one-north area, is zoned for residential use with commercial spaces on the first floor. The top bid translates to a land rate of $1,037 per square foot per plot ratio (psf ppr) for the site, which spans 82,125 square feet and can potentially yield 325 housing units with a maximum gross floor area of 303,865 square feet.The future development at Media Circle (Parcel A) will feature two high-rise residential towers with commercial spaces on the first floor, according to a press statement by Qingjian and Forsea. The site attracted a total of three bids, with Qingjian and Forsea’s bid being 5.7% higher than the next bid by EL Development, at $298 million or $981 psf ppr. The lowest bid of $295 million or $971 psf ppr was submitted by SingHaiyi Group.Qingjian and Forsea’s bid for Parcel A is lower than the land rate they had paid for the neighboring Media Circle GLS plot, which is now the site of the upcoming 358-unit Bloomsbury Residences. In January 2024, the partners were awarded the 114,462 square feet site for $395.28 million, or $1,191 psf ppr. “We are confident in the upcoming transformation of Media Circle, supported by a well-designed master plan and the government’s continued investment in the one-north precinct as announced in the 2025 budget,” says Du Dexiang, managing director of Qingjian Realty.Wang Xin, director at Forsea Holdings, adds: “This project marks another important step in our commitment to developing high-quality residential communities that align with the growth of one-north, which is akin to Singapore’s ‘Silicon Valley’.” This will be the third joint venture between Qingjian and Forsea, following their successful bid for an executive condominium site at Jalan Loyang Besar, which can yield up to 710 new homes.That said, the site’s media circle sits within a unique location in one-north, framed by greenery and black and white bungalows. According to Lee Sze Teck, senior director of data analytics at Huttons Asia, the area only has two precincts with land set aside for homes, one at Slim Barracks Rise and one at Media Circle. With limited developments in the one-north area, this new project is expected to appeal to potential tenants, especially those working in one-north, Science Park, and the nearby Tanglin Trust School. Furthermore, its proximity to Anchorpoint Shopping Centre, Alexandra Central Mall, and Timbre+ One North provides a diverse range of retail and dining options.In terms of pricing, Leonard Tay, head of research at Knight Frank Singapore, believes that the future project at Media Circle (Parcel A) could launch with selling prices starting from $2,300 psf. According to him, while the site is located in a quieter section of the one-north business park, it is still within walking distance to Mediapolis, making it an ideal location for workers in the media and entertainment industry.

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It is crucial for foreign investors to familiarize themselves with the rules and regulations regarding property ownership in Singapore. Unlike landed properties, the purchase of condos is generally less restricted for foreigners. However, it’s important to note that foreign buyers are required to pay the Additional Buyer’s Stamp Duty (ABSD), which is currently set at 20% for their initial property purchase. Despite this added expense, the stability and potential for growth in the Singapore real estate market make it a top choice for foreign investment. In fact, many are drawn to purchase Singapore Condo due to its attractive market conditions.…

Hotel Properties Ltd (HPL), a prominent player in the property and hotel industry, is making significant strides towards expanding its global presence with its latest acquisition. The company has proposed to acquire InterContinental Auckland for NZ$180 million ($138.5 million), making it their first property in New Zealand and their second InterContinental hotel acquisition, following InterContinental Maldives Maamunagau Resort.

This transaction, which was an off-market deal, is the largest single hotel asset sale in the history of New Zealand, according to JLL’s Asia Pacific Hotels & Hospitality Group, which advised on the sale by Precinct Properties in New Zealand. With this acquisition, HPL is adding another prestigious asset to its portfolio, which already includes The Boathouse Tioman in Malaysia and The Four Seasons Hotel Osaka in Japan.

When evaluating a potential condominium investment, it is important to also consider the potential rental yield. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, rental yields for condos can vary significantly based on factors such as the location, condition of the property, and demand in the market. Generally, areas with high demand for rentals, such as those near business districts or universities, offer better rental yields. To gain a better understanding of a specific condo’s rental potential, it is advised to conduct thorough market research and consult with real estate agents. As an example, Singapore Condos can provide valuable insights into rental trends and potential returns.

HPL’s decision to purchase the InterContinental Auckland is a testament to their goal of expanding their luxury hospitality portfolio in key markets of the Asia Pacific region. This is driven by their experienced hospitality management team and partnerships with renowned operators such as IHG Hotels & Resorts.

Stephen Lau, chairman of HPL Hotels and Resorts, states that the proposed acquisition of InterContinental Auckland is a rare opportunity for the company to acquire a premium asset in New Zealand. He also adds that the property is impeccably connected to the vibrant NZ$1 billion Commercial Bay lifestyle precinct, which was launched in January 2024. The hotel rooms offer breathtaking views of the Waitematā Harbour, making it an attractive destination for travelers.

Currently, the property has 139 rooms, but it has the potential to expand up to 190 rooms by repurposing the existing office space to meet future demands. This will provide the hotel with ample room to grow and cater to the increasing number of tourists in the region. HPL is confident that this acquisition will further strengthen their position in the market and contribute to their goal of expanding their luxury hospitality portfolio.…