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Palm Spring saw the most profitable resale transaction in the period of Jan 14 to 28, while Marina Bay Suites saw the most unprofitable resale transaction. The three-bedroom unit at Palm Spring sold for $4.4 million, marking a 264% profit from its purchase price in 2005. On the other hand, the 1,625 sq ft unit at Marina Bay Suites was sold at a loss of $1.15 million. This marked the latest unprofitable transaction in a streak of 14 consecutive loss-making deals at the 99-year leasehold condo. Meanwhile, a four-bedroom unit at Orchard Bel Air also saw a significant profit of $3 million when it was sold for $4.65 million. This marked a 182% profit from its purchase price in 2001. Overall, condominium prices at Palm Spring have consistently increased over the past 20 years, with the average transacted price reaching $2,342 psf in January 2021. Conversely, Marina Bay Suites has seen a decline in average selling prices, falling from $2,502 psf in January 2015 to $1,921 psf in January 2021.

Singapore has become a top choice for condo investment, but potential investors should also consider the government’s property cooling measures. In order to regulate the real estate market and prevent speculative buying, the Singaporean government has implemented various measures over the years. One such measure 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 profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a secure investment environment. For more information on condo investment opportunities in Singapore, check out projects available at Singapore Projects.…

Edited article:A three-bedroom unit located on the 13th floor of Watertown, part of the Waterway Point integrated development in Punggol, will be up for auction on Feb 26 by SRI.

This unit is a mortgagee sale, and spans 1,281 sq ft with a guide price of $2.4 million, which works out to about $1,874 per square foot (psf). The same unit was previously up for auction at SRI in January with the same guide price, but only received one bid below the reserve price and was subsequently withdrawn.

The unit features a combined living and dining area, an open-concept kitchen, a utility room, and a toilet. A south-facing balcony overlooks one of the development’s 20 swimming pools. The unit also offers an ensuite master bedroom, two more bedrooms, and a common bathroom.

Investing in condos has numerous advantages, and one of them is the opportunity to leverage the property’s worth for future investments. A majority of investors utilize their condos as a security to procure additional funding for new investments, effectively broadening their real estate portfolio. This approach has the potential to magnify returns, but it is important to note that it also carries certain risks. Therefore, having a solid financial plan in place and carefully considering the potential effects of market fluctuations is crucial. Additionally, considering new and upcoming Singapore projects can also help in expanding one’s investment portfolio and generating higher returns.

According to URA caveats, the unit was originally purchased from the developers for around $1.8 million ($1,281 psf) in October 2013. As of Feb 4, there has been one unit at Watertown that has been sold this year; a two-bedroom unit of 958 sq ft that was sold for $1.7 million ($1,775 psf) on Jan 19. In 2020, there were 41 resale transactions in the development, with an average price of $1,700 psf.

Eric Liew, SRI’s auctions and sales manager, notes that the larger units in Watertown are in higher demand and can command higher psf prices. Of the 41 resale transactions last year, 10 involved units with three or more bedrooms, which were sold at an average price of $1,854 psf. This is about 9% higher than the average transacted price for the development.

Liew adds that most of the interest for Watertown comes from HDB upgraders who are looking for a good deal and buyers who plan to use the unit as their primary residence, due to its close proximity to Punggol MRT Station.

Watertown consists of 11 residential towers and 992 units, situated above six levels of Waterway Point mall. The units range from one- to two-bedroom units of 533 to 1,003 sq ft, and larger units with three to four bedrooms of 821 to 1,582 sq ft.

Waterway Point is integrated with Punggol MRT Station, which is on the North East Line and is also connected to Punggol LRT Station. It was completed in 2017 and was a joint development by Far East Organization, Frasers Centrepoint, and Sekisui House.

The area also has several primary schools nearby, such as Edgefield Primary School at Edgefield Plains, Oasis Primary School at Punggol Drive, Punggol Green Primary School at Punggol Walk, Compassvale Primary School at Compassvale Street, and Punggol Cove Primary School at Sumang Walk.…

The government has recently announced the extension of the Central Business District Incentive (CBDI) and Strategic Development Incentive (SDI) schemes for another five years. These schemes were first introduced in November 2019 and the decision to extend them was announced by Desmond Lee, Minister of National Development (MND) at the Real Estate Developers’ Association of Singapore (Redas) annual Spring Festival lunch on Feb 7.

The main objective of the CBDI scheme is to encourage the conversion of older office buildings in certain areas of the Central Business District (CBD), namely Tanjong Pagar, Robinson Road, and Shenton Way, into mixed-use developments. This is in an effort to increase the number of homes, boost the residential population in the CBD, and introduce a greater diversity of uses in the traditionally commercial-centric district.

On the other hand, the SDI was introduced to encourage the redevelopment of older developments in key areas to catalyze transformative changes in the surrounding urban environment. These areas include Orchard Road, the Central Business District, and Marina Centre.

According to the Urban Redevelopment Authority (URA), out of the 17 CBDI proposals and 12 SDI proposals submitted, 14 and seven respectively have been granted in-principle approval. Currently, there are four CBDI projects under construction in the Anson-Tanjong Pagar area, such as Newport Plaza, a mixed-use development on 80 Anson Road which comprises of 246 residential units and 198 serviced apartment units. The Skywaters Residences, a larger mixed-use development on 8 Shenton Way, includes 190 luxury residential units. Other CBD projects include two commercial developments at 15 Hoe Chiang Road and 51 Anson Road.

The five-year extension of the CBDI and SDI comes with some refinements to both schemes, according to Minister Lee. One of these changes is the extension of the CBDI to commercial developments in Anson and Cecil, where developers and property owners who submit proposals for buildings in these areas will have the option to retain their commercial zoning, with 40% reserved for non-commercial use, if the redevelopment includes long-stay serviced apartments. In addition, CBDI applicants who wish to redevelop in Anson and Cecil will need to provide at least 200 residential units, or allocate their entire non-commercial floor area for long-stay serviced apartments, whichever is lower. Previously, office buildings redeveloped under the CBDI were allowed to keep their existing commercial zoning if 40% of the new floor area was set aside for non-commercial use.

In Singapore, having a good understanding of the rules and restrictions concerning property ownership is crucial for international investors. While foreigners have some leeway in purchasing condominiums, they face stricter regulations when it comes to buying landed properties. Additionally, all foreign buyers are required to pay the Additional Buyer’s Stamp Duty (ABSD) of 20% for their first property purchase. Despite this extra cost, the real estate market in Singapore continues to show strong and promising growth, making it an attractive destination for foreign investment. This is evident in the ongoing influx of foreign funds into various projects in Singapore, such as those listed on Singapore Projects.

As Marcus Chu, CEO of ERA Singapore puts it, “By enabling the continual renewal of the many aging buildings in the city centre, and with the injection of more residential units, these incentives aim to make the CBD a place to work, live and play.”

In addition, the revised CBDI and SDI schemes will also include new sustainability requirements, and from now on, all new CBDI and SDI applications must include a sustainability statement assessing the viability of retrofitting part, or all, of the existing building. Minister Lee emphasized the importance of revitalizing and rejuvenating through redevelopment, but also stressed the need to avoid wasteful demolition and excessive rebuilding, especially for relatively young or well-maintained buildings. He pointed to several projects that are already going above and beyond the mandated sustainability requirements, such as Union Square, a mixed-use development at Havelock Road that includes a district cooling system.…

Aurea, a luxury apartment tower, was recently announced as part of the Golden Mile Singapore mixed-use development along Beach Road. On Feb 6, the joint venture partners Perennial Holdings and Far East Organization unveiled the plans for this 45-storey, 188-unit tower, which is designed by DP Architects and occupies a site area of 144,908 sq ft.

The Golden Mile, formerly known as Golden Mile Complex, has been conserved for its architectural heritage and is a commercial building with a mix of retail space, medical suites and offices. Perennial Holdings and Far East Organization purchased the building en bloc for $700 million in May 2022, marking the first collective sale and conservation of a building.

According to Shaw Lay See, chief operating officer at Far East Organization’s sales & leasing group, Aurea, with its prime address in District 7 and the Downtown Core, is expected to attract strong interest from individuals and families who appreciate the exclusivity of a prime location.

The preview for Aurea, which will be by appointment only, is set to begin on Feb 22, with the official launch on Mar 8. Prices for the apartments will start from $2,750 psf, with two-bedroom units of 646 sq ft starting at $1.92 million ($2,972 psf).

The apartments at Aurea consist of a variety of unit types, including two- and three-bedroom apartments (from 635 sq ft to 1,001 sq ft), four-bedroom units (from 1,442 sq ft to 1,798 sq ft), five-bedroom units (from 2,863 sq ft to 3,251 sq ft), and two exclusive penthouses (a six-bedroom duplex spanning 5,608 sq ft and a six-bedroom triplex of 8,816 sq ft). The four-bedroom units and penthouses will have private lift access, and the triplex penthouse will also come with a private pool. These larger units are expected to appeal to affluent buyers in the Core Central Region (CCR), according to Marcus Chu, CEO of ERA Singapore.

The majority of the apartments at Aurea (60%) consist of two- and three-bedroom units, which are expected to appeal to both homebuyers and investors, says Chu.

Residents at Aurea will have access to various facilities, such as two infinity pools (located on levels three and 33), a gymnasium, a bouldering wall, spa facilities, an indoor lounge, and multiple dining pavilions. Sky terraces on levels 17 and 33 will also offer panoramic views of the CBD skyline, Marina Bay, and the Kallang waterfront.

When it comes to investing in Singapore’s real estate, it is crucial for foreign investors to be knowledgeable about the regulations and limitations surrounding property ownership. In general, foreigners have more leeway when purchasing condos compared to landed properties, which have stricter ownership criteria. However, foreign buyers are still required to pay the Additional Buyer’s Stamp Duty (ABSD), currently set at 20%, for their first property purchase. Despite this extra expense, the stability and promising growth potential of the Singapore real estate market continue to attract foreign investments, making it an attractive option for those interested in owning a Singapore condo.

Ken Low, managing partner at SRI, believes that today’s homebuyers are looking for more than just a great location; they want a home that enhances their daily lives. Aurea offers just that with its well-designed units, convenient location, and top-notch facilities.

The commercial space at The Golden Mile, comprising 156 strata office units and 19 medical suites, was launched for sale in December 2024. The joint venture partners plan to retain ownership of the two-storey retail atrium to curate the tenant mix.

According to PropNex CEO Ismail Gafoor, the iconic Golden Mile Complex has a lot of potential, especially for the office space. He adds that today’s buyers prioritize quality projects with convenient access to essential amenities and an MRT station. The Golden Mile is conveniently linked to the Nicoll Highway MRT Station through an existing overhead bridge.

The last launch in the Beach Road neighborhood of District 7 was Midtown Modern, a 558-unit development that is now completely sold at an average price of $2,825 psf. Its neighbor, The M, a 522-unit development, was launched in 2020 and had a 100% sell-out rate at an average price of $2,528 psf. Midtown Bay, a 219-unit development at Guoco Midtown was completed recently, with about 63% of the units taken up at an average price of $3,090 psf since its launch in 2019.

Given its location, upscale residences, and iconic heritage, PropNex’s CEO Gafoor predicts that Aurea’s units could cross the $3,000 psf mark. He believes that the project will attract healthy interest among homebuyers and investors, given the high demand for new homes in the area.

Aurea is expected to be completed in 2Q2029.…

When considering the investment potential of a Condo in Singapore, one can expect promising capital growth. This small island country’s strategic positioning as a global business hub, combined with its strong economic foundation, creates a constant demand for real estate. Over the years, Singapore’s property values have consistently shown an upward trend, especially for Condos located in prime areas that have experienced significant appreciation. Those who wisely invest in the property market at the right time and hold onto their Condos for the long term can enjoy substantial capital gains. Condo is a valuable addition to any investment portfolio in Singapore.

On February 6, Perennial Holdings and Far East Organization revealed their plans for Aurea, a luxurious apartment tower that will be part of the Golden Mile Singapore mixed-use development along Beach Road.

Designed by DP Architects, Aurea will have 188 units spread across 45 storeys on a site area of 144,908 sq ft. The tower will also have a link bridge connecting it to the neighbouring The Golden Mile, a commercial building that includes retail space, medical suites, and offices.

The Golden Mile, previously known as Golden Mile Complex, is a conserved building that holds great architectural significance. It was also the first building to go through a collective sale and conservation process. In May 2022, Perennial Holdings and Far East Organization purchased the building en bloc for $700 million.

Aurea, with its prime location on Beach Road, is part of District 7 in the Downtown Core, which is considered to be part of the Core Central Region (CCR). “We anticipate strong interest from discerning individuals and families who appreciate the exclusivity of a prime Downtown Core address,” says Shaw Lay See, Chief Operating Officer of Far East Organization’s sales & leasing group.

The appointment-only preview for Aurea will begin on February 22, with the official launch set to take place on March 8. The apartments will be priced from $2,750 psf, with two-bedroom units starting from $1.92 million for a 646 sq ft apartment ($2,972 psf).

Residents at Aurea will have a variety of unit options to choose from. The tower will have a total of 188 units, with 112 two- and three-bedroom apartments ranging from 635 sq ft to 1,001 sq ft, 56 four-bedroom units from 1,442 sq ft to 1,798 sq ft, and 18 five-bedroom units from 2,863 sq ft to 3,251 sq ft. The tower will also have two exclusive penthouses, a six-bedroom duplex spanning 5,608 sq ft and a six-bedroom triplex measuring 8,816 sq ft. The larger four-bedroom units and penthouses will feature private lift access, and the triplex penthouse will also include a private pool.

“These larger four-bedders and penthouses complement the affluent lifestyles of CCR homebuyers,” says Marcus Chu, CEO of ERA Singapore.

Meanwhile, the two- and three-bedroom units make up 60% of the apartments at Aurea. These units are expected to appeal to homebuyers and investors, adds Chu.

Residents at Aurea will also have access to a range of facilities, including two infinity pools on levels three and 33, a gymnasium, a bouldering wall, spa facilities, an indoor lounge, and multiple dining pavilions. Sky terraces on levels 17 and 33 are expected to offer stunning views of the CBD skyline, Marina Bay, and the Kallang waterfront.

“Today’s homebuyers are looking for more than just a great location,” says Ken Low, managing partner at SRI. “They want a home that enhances their daily lives – one that is easy to get around, thoughtfully designed, and features facilities or spaces that inspire. Aurea delivers on all this.”

The 156 strata office units and 19 medical suites at The Golden Mile were launched for sale in December 2024. The joint venture partners, Perennial and Far East, intend to retain ownership of the revamped two-storey retail atrium to curate the tenant mix.

“The former Golden Mile Complex is iconic,” says PropNex CEO Ismail Gafoor. “The potential of the commercial space, especially office space, may attract buyers.”

He adds that buyers today prioritize quality projects near an MRT station and convenient access to essential amenities. An overhead bridge currently connects The Golden Mile to the Nicoll Highway MRT Station on the Circle Line.

Nearby major roadways like Nicoll Highway, East Coast Parkway (ECP), and Kallang-Paya Lebar Expressway (KPE), Golden Mile Singapore is only 1km away from the Kallang Alive Precinct, the Bras Basah-Bugis district, and a 10-minute drive from the CBD.

The last launch in the District 7 neighbourhood was the 558-unit Midtown Modern in 2021. All units at Midtown Modern have been sold as of December 2024 at an average price of about $2,825 psf, and the project is expected to obtain TOP later this year.

Midtown Modern was preceded by the neighbouring 522-unit The M in 2020. The entire development is 100% sold at an average price of $2,528 psf and was completed in March 2024.

The 219-unit Midtown Bay at Guoco Midtown was completed last year. Since its debut in 2019, about 63% of the units have been sold as of February 5, 2022, at an average price of $3,090 psf.

Given Aurea’s prime location, upscale residences, and its proximity to the Singapore architectural heritage of Golden Mile, PropNex’s CEO Gafoor estimates that prices of the apartment units could surpass $3,000 psf.

“As most of the units at past launches in the district have been sold, we believe Aurea may enjoy some pent-up demand for new homes in the area and could attract healthy interest among prospective homebuyers and investors,” says Gafoor.

Aurea is expected to be completed in the second quarter of 2029.…

MCL Land and CSC Land Group will soon unveil their latest residential development, Elta. This 501-unit condo, located in Clementi, will be open for preview from Feb 7, with public sales launching on Feb 22.

Spanning approximately 144,788 sq ft, Elta is a 99-year leasehold development situated along Clementi Avenue 1. It features two 39-storey buildings, housing a range of units from one-bedroom-plus-study to five-bedroom units, with sizes ranging from 506 sq ft to 1,776 sq ft. According to the joint developers, Elta will be constructed in accordance with URA’s harmonisation guidelines.

Interested buyers can find out more about available units and prices for ELTA. The indicative pricing for one-bedroom-plus-study units starts from $1.158 million ($2,289 psf), two-bedroom units from $1.388 million ($2,261 psf), and three-bedroom units from $2.198 million ($2,374 psf). Four and five-bedroom units will start from $2.798 million ($2,363 psf) and $3.888 million ($2,189 psf) respectively.

The development’s showflat, located along Prince Charles Crescent, will feature three layouts: a two-bedroom plus study that can be converted into a compact three-bedroom, a four-bedroom dual-key unit, and a five-bedroom unit suitable for multi-generational living.

Elta is conveniently situated within walking distance to Clementi MRT Station on the East-West Line. It is also in close proximity to popular dining and shopping options, including The Clementi Mall, 321 Clementi, and Grantral Mall.

For families with school-going children, there are also various reputable schools in the area, such as Clementi Primary School, Pei Tong Primary School, Nan Hua Primary and High School, Anglo-Chinese School (Independent), and NUS High School of Math and Science.

Lee Tong Voon, CEO of MCL Land, shares, “Elta is designed to offer elevated living, with its high-rise towers strategically oriented to provide the best views of the city, Pandan Reservoir, and the sea.”

He adds, “Clementi is a popular, vibrant town that seamlessly integrates traditional shops and trendy amenities, providing convenience to the community.” Qian Liang Zhong, Chairman of China Construction (South Pacific) Development Co (CCDC), the parent company of CSC Land Group, echoes similar sentiments.

Elta will boast 50 facilities spread across five zones, including a 50-metre lap pool, gymnasium, tennis court, and gardening corner. The development is scheduled to receive its temporary occupation permit in 2028.

Singapore’s urban environment is characterized by towering skyscrapers and state-of-the-art infrastructure. The city’s desirable neighborhoods are home to a variety of condominiums, offering a perfect mix of luxury and convenience that appeals to both locals and foreigners. These condos are equipped with top-of-the-line amenities, such as swimming pools, fitness centers, and round-the-clock security services, elevating the overall standard of living and making them a highly sought-after option for potential tenants and buyers. Additionally, with high rental yields and continuous growth in property values, these condos are a wise investment choice for those looking to enter the real estate market. Keep an eye out for exciting new condo launches at National Athletic Combine!

Interested buyers can check out the latest listings for Elta, as well as compare price trends for different types of properties, such as condominiums, executive condominiums, and landed homes.…

Posted on 10 February 2020 | 1,163 views

Knight Frank Singapore has exclusively announced the sale of a high-specification warehouse and factory in Gul Circle through an expression of interest with a guide price of $42 million. The property, which comprises a JTC leasehold five-storey factory and warehouse with a mezzanine, has a gross floor area of approximately 245,955 sq ft. Its site has a remaining lease of 15 years and 11 months and is zoned as a Business 2 site under the URA Master Plan 2019.

Designed to meet modern industrial needs, the property has features such as high ceilings for storage and operations, cold rooms, and a strong floor loading capacity to accommodate various industries. It also has nine 40-footer loading and unloading bays with dock levelers, as well as four cargo and service elevators. The property is conveniently located near major expressways such as Ayer Rajah Expressway (AYE) and Pan-Island Expressway (PIE), as well as Joo Koon MRT station.

The expression of interest exercise for the property will close on March 18 at 3pm. Knight Frank Singapore highlighted the property’s strategic location and modern features as attractive selling points, making it a prime investment opportunity. Interested buyers can explore the potential of this property and submit their bids before the closing date.

Investing in condos offers numerous advantages, one of them being the opportunity to leverage the property’s worth for future investments. Numerous investors utilize their condos as security to secure additional financing for new condo launches, which in turn enables them to broaden their real estate portfolio. While this approach can potentially increase profits, it also carries its own risks. Therefore, it is crucial to have a solid financial plan in place and carefully evaluate the potential impact of market fluctuations when considering this strategy.…

Freehold industrial property in Kampong Ampat sold for $7.8 mil

The demand for new condo launches in Singapore remains high, driven by a variety of reasons such as limited land availability. As a small island with a rapidly growing population, Singapore is facing a shortage of available land for development. This has resulted in the implementation of strict land use regulations and a highly competitive real estate market, leading to continuously increasing property prices. As a result, investing in real estate has become a profitable opportunity in the country, particularly in the new condo launch market, with the potential for significant capital appreciation.

According to a recent research report by Colliers released in February, the prices and rents of industrial properties in Singapore are expected to slow down this year due to an increase in supply and a decrease in demand. The firm projects a moderate growth between 0% to 2% for both rental and price growth in 2025, compared to the 3.5% growth achieved last year.

The report notes that JTC’s 4Q2024 data indicates a market that is losing momentum. The JTC All Industrial rental index showed a 17th consecutive quarter of growth in 4Q2024, with a 0.5% increase compared to the previous quarter. This brings the total growth for the year to 3.5%, a significant decline from the 8.9% rental growth achieved in 2023. Similarly, the price index also grew 0.5% q-o-q in 4Q2024, but this was a decrease from the 1.2% growth in the previous quarter. In 2024, industrial property prices rose only 2.1%, which is less than half of the 5.1% increase seen in the year before.

The report attributes the muted outlook to the expected surge in supply of industrial space this year, with more than 2.5 times the supply coming on stream compared to last year. This surge in supply has resulted in a supply-demand imbalance, with certain segments of the market experiencing slower precommitments and lower occupancy rates in completed projects. The report also notes that the cautious attitude of occupiers, due to high interest rates and rising operating expenses, is expected to continue dampening rental growth. The ongoing global trade protectionism also adds an element of uncertainty, which could impact business confidence and investment decisions.

However, there are positive factors that could support industrial demand, such as the semiconductors, logistics, and advanced manufacturing sectors. The report also expects industrial leasing activities to gradually increase as policies become clearer and market sentiments improve, driven by the upturn in the chip cycle.

With the expected increase in supply and the projected moderation in rents, Colliers believes that this could be a good year for tenants with more options available in the market. The report suggests that newer industrial developments with modern specifications could attract businesses to relocate from older manufacturing spaces. According to Nicolas Menville, executive director and head of Singapore-based industrial clients for Colliers, the increase in supply could also result in more businesses moving to newer projects.

In conclusion, the industrial property market in Singapore is expected to slow down this year due to an increase in supply and a decrease in demand. However, with positive factors supporting industrial demand and the availability of newer and more modern spaces, there is still potential for growth in the industry.…

The iconic Tan Boon Liat Building, located at 315 Outram Road, is currently on the market for collective sale with a reserve price of $1.15 billion. The industrial property, situated next to Havelock MRT Station on the upcoming Thomson-East Coast Line (TEL), occupies two separate land plots that are zoned for “Business 1” use, covering a total area of approximately 175,655 sq ft.

The building, which spans 15 storeys, is well-known for housing a variety of furniture and home décor stores.

According to property advisor and marketing agent Cushman & Wakefield, the Urban Redevelopment Authority (URA) has issued an Outline Planning Advice on January 22 recommending that the site be rezoned to “Residential with Commercial at 1st storey” and have its plot ratio increased from 3.1 to 4.9. This would result in a 50% increase in the maximum gross floor area (GFA) allowed for development, as stated by Cushman & Wakefield.

The site also has potential for further development, as URA has advised on the integration of a few smaller state land plots into the main plot. These plots, estimated to cover about 20,451 sq ft, will be subject to relevant authorities’ approval.

Cushman & Wakefield estimates that the total potential GFA for the site, including the state land plots and possible bonus GFA, could exceed 1.06 million sq ft. The commercial component, located on the first storey, could cover up to 16,146 sq ft of GFA. As part of the residential allocation, a minimum of 161,459 sq ft must be reserved for Serviced Apartments II (SA2) which require a minimum stay of three months. The proposed development can reach heights of 130m to 180m.

Based on the reserve price, including land betterment charges for rezoning, the estimated premium for the state land plots, and the 10% bonus GFA applicable to the residential portion, the land rate is approximately $1,888 psf per plot ratio.

To sum up, investing in a condo in Singapore offers a multitude of benefits. These include a strong demand for properties, the potential for significant appreciation in value, and attractive rental yields. However, it is crucial to carefully consider various factors like location, financing options, government regulations, and overall market conditions before making a decision. By conducting thorough research and seeking professional advice, investors can make informed choices and maximize their returns in Singapore’s ever-evolving real estate market. Regardless of whether you are a local investor looking to diversify your portfolio or a foreign buyer seeking a stable and profitable investment, condos in Singapore present a compelling opportunity to do so.

Recent sales transactions at Tan Boon Liat Building (Source: EdgeProp Buddy)

Christina Sim, Senior Director of Capital Markets at Cushman & Wakefield, believes that the site will be appealing to developers due to its freehold tenure and the location along the TEL, which is a desirable factor for potential homebuyers.

She also mentioned that the biggest advantage of this site is the absence of Additional Buyer’s Stamp Duty (ABSD) for the potential buyer, since the original zoning of the site is “Business 1”.

The tender for this site will close on March 18 at 3pm. Ask BuddyCompare price trend of Condo new sale vs EC new saleMost unprofitable landed transactions in past 1 yearCondo projects with most unprofitable transactionsPast Condo sale transactionsUpcoming new launch projectsCompare price trend of Condo new sale vs EC new saleMost unprofitable landed transactions in past 1 yearCondo projects with most unprofitable transactionsPast Condo sale transactionsUpcoming new launch projects…

Park Nova, a prime freehold luxury condo in District 10, has broken its own record for the highest sale price and psf-price with the recent transaction of its largest penthouse on the 20th floor. The five-bedroom unit, spanning 5,899 sq ft, was sold by the developer for $38.888 million or $6,593 psf, according to a caveat lodged on Jan 21 on the URA Realis database.

The previous record was held by a 4,499 sq ft penthouse that was sold in May 2021 for $26.026 million, or $5,784 psf. This transaction marks the second-highest psf-price ever recorded for a condo unit in Singapore, with the highest being a unit at The Marq on Paterson Hill sold in 2011 for $20.54 million or $6,650 psf.

Acquiring a condominium in Singapore is a wise investment choice that comes with several advantages, including the possibility of capital appreciation. The country’s advantageous location as a prominent business hub, combined with its strong economic stability, drives a consistent demand for real estate. Over the years, the real estate market in Singapore has shown a steady upward trend, especially in prime areas where condos have experienced significant appreciation. Timing is crucial, as those who enter the market at the right moment and hold onto their properties for an extended period can reap substantial capital gains. Furthermore, with new condo launches continuously emerging in the market, investors have endless prospects to tap into the potential for future growth in this lucrative sector. Keep an eye on the latest developments and new condo launches at National Athletic Combine.

The recent sale is also believed to be part of a collection of properties linked to the ongoing $3 billion money laundering case. The penthouse was previously reported to have been sold in 2021 for $34.438 million, or $5,838 psf.

The developer has also sold two other units at Park Nova within a month. A four-bedroom apartment on the 19th floor was sold for $16.59 million or $5,708 psf on Jan 17, followed by another four-bedder on the 18th floor that was sold for $15.99 million or $5,522 psf on Dec 27.

Located at the junction of Orchard Boulevard and Tomlinson Road, Park Nova has a total of 54 units and received its temporary occupation permit in November 2021. Developed by Hong Kong’s Shun Tak Holdings, it is one of the most exclusive and coveted developments in Singapore.

For more information on Park Nova, you can check out the latest listings and ask Buddy for property insights. You can also find out the site plan, compare the price trend of new launch condos versus ECs, and generate a price trend graph for new launch condos in District 10.…