Month: December 2024

of some of Singapore’s most sought-after condosTop condos by sales and price psf in District 19

According to Mark Yip, CEO of Huttons Asia, the list of best-selling new launches in 2024 was dominated by projects in the Rest of Central Region (RCR) and Outside Central Region (OCR). This was due to strong demand from upgraders, supported by a robust HDB resale market.

Out of the top 10 best-selling projects, three were launched in November. Leading the pack was Emerald of Katong, which sold 99% of its 846 units within a span of just two days (Nov 15-16), making it the top-selling project of the year. As of Dec 17, the 99-year leasehold development only has six units remaining.

In second place is Chuan Park, which sold 696 out of its 916 units (76%) in a single day on Nov 10. As of Dec 17, the project is 79% sold. The strong sales are attributed to the lack of new private condo launches in the neighborhood since The Scala in 2010.

Taking the third spot is Lentor Mansion, where 75% of its 533 units were sold during its launch weekend in March. Nine months later, the project has sold 92% of its units. Nava Grove, with 552 units, ranks fourth with 65% of its units taken up during its launch weekend in mid-November. By Dec 17, the project was nearly 70% sold.

In fifth place is Norwood Grand, with 291 of its 348 units (84%) sold since its launch in October. The 341-unit Hillhaven, which was among the first projects to debut in 2024, sold 50 units during its launch in January. Since then, sales have been gaining momentum, with 259 units (76%) sold as of Dec 17, placing it in sixth place.

Kassia on Flora Drive, a 276-unit freehold development, took seventh place with 180 units (65%) sold to date. Lentoria, a 267-unit project located in Lentor Hills Estate, ranks eighth with 66% of its units sold since its launch in March.

The 440-unit Sora, situated at Yuan Ching Road in Jurong Lake District, achieved 134 sales (30%) and comes in at ninth place. Rounding out the top 10 is Meyer Blue, a freehold project that sold 131 units (58%) of its 226 units through private sales.

Four projects launched in 2023 also saw significant sales momentum in the second half of 2024, each selling more than 200 units. These projects benefited from the launch of new developments in their respective neighborhoods, which drew attention back to the area.

Investing in a Singapore Condo has emerged as a popular option for both local and foreign investors, given the country’s strong economy, stable political climate, and exceptional quality of life. The real estate market in Singapore presents a plethora of opportunities, with condos standing out as a top choice due to their convenience, amenities, and potential for significant returns. In this article, we will delve into the advantages, factors to consider, and crucial steps to take when considering a condo investment in Singapore.

The Continuum, an 816-unit freehold development at Thiam Siew Avenue, is the biggest beneficiary of Emerald of Katong’s launch, with 233 units sold in 2024. Almost 60% of the sales occurred since November, bringing its total take-up rate to 66% since its launch in May 2023.

Tembusu Grand, located across the road from Emerald of Katong, also saw a surge in sales after its release in April 2023, selling 53% of its units during its launch weekend. With the market sentiment improving in 3Q2024, it sold 204 units this year and is now 91% sold, thanks to the buzz around Emerald of Katong.

Hillock Green, a 474-unit project in Lentor Hills Estate, had a strong performance after its launch in November 2023. It sold 217 units this year, bringing its cumulative sales to 359 (76%). Pinetree Hill, with 520 units, also saw robust sales after the release of its second phase in September. This year, the project sold 208 units, bringing its cumulative sales to 374 (72%). The project also benefited from the launch of Nava Grove in November, which helped drive interest to the District 21 residential enclave.…

It is crucial to carefully consider the government’s property cooling measures before investing in condos in Singapore. These measures have been put in place by the Singaporean government to prevent speculative buying and maintain a stable real estate market. As such, they have a significant impact on condo investments. Among these measures is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. Although these measures may affect the short-term profitability of condo investments, they also contribute to promoting long-term market stability. This makes Singapore a secure and attractive investment environment. Additionally, staying updated on new condo launches through resources like New Condo Launches can provide individuals with the latest opportunities in the market.

As we approach the year 2025, Singapore’s built environment is on the cusp of major transformation. The facilities management (FM) sector is facing immense pressure to adapt to shifting regulatory requirements, rising costs, and rapid technological advancements. There are three key factors that will shape the future of FM and contribute to its sustainability: the introduction of a mandatory energy improvement regime, the impact of rising temperatures on energy expenditure, and the growing trend of adaptive reuse in construction.

The mandatory energy improvement regime, which will be implemented in the third quarter of 2025, will require existing energy-intensive buildings to undergo energy audits and make the necessary upgrades to improve efficiency. This mandate applies to commercial, healthcare, institutional, civic, community, and educational buildings with a gross floor area exceeding 5,000 sq m. These buildings are expected to reduce their energy consumption by 10% from pre-energy audit levels, which is an achievable target with the right strategies in place.

Asset owners are encouraged to take a long-term approach when investing in energy-efficient systems that require significant capital expenditure. The energy audits will provide insights into energy consumption patterns and identify where improvements can be made. This information will guide asset owners in developing a strategy to prolong the lifespan of assets, reduce operating costs in the long run, and contribute to a more sustainable built environment. Building owners can also take advantage of grants that can help cover the costs of energy efficiency upgrades.

Temasek Polytechnic is Singapore’s first smart campus, and it has set a bold ambition to digitize its campus operations in 2021. The polytechnic’s experience provides valuable insights into the future of smart and sustainable FM. The campus has implemented a suite of solutions that digitize operations, including facility booking, automation of repair and maintenance work orders, and crowd management and temperature control measures. These systems are integrated into a common data environment, which generates data that is visualized, tracked, and monitored at a control center on campus. This information helps campus operations teams make informed decisions to keep building systems operational and maximize the return on investment in these assets. It also helps to reduce operational carbon levels.

One of the key drivers for sustainability in the FM sector is the obligation to disclose climate-related information. By 2027, all listed and large non-listed companies with revenues of at least $1 billion and total assets of at least $500 million will be required to disclose this information. This will further accelerate the adoption of energy-efficient practices and technologies.

Rising temperatures and energy costs will also drive investments in predictive technology. As temperatures continue to climb, buildings will require more cooling, leading to higher energy costs. The heating, ventilation, and air conditioning (HVAC) systems already account for a significant portion of operating costs, making up to 60% of total energy expenses in many buildings. To mitigate rising energy costs, building owners can implement energy-efficient solutions like thermal energy storage or energy recovery systems. It is also essential to optimize the operations of HVAC systems according to changing weather conditions, which will reduce energy waste and cost.

Extreme weather events, such as flooding and heat waves, pose a threat to the health and performance of critical infrastructure in cities. This includes drainage and plumbing systems, which are crucial for keeping precincts running smoothly. To mitigate these risks, building owners and city planners can leverage advances in geospatial information technology to identify flood-prone areas and extremely heat-exposed spaces. This information can help facilities and asset managers develop a comprehensive operational plan to predict and mitigate risks, minimize equipment failure and downtime, and optimize chiller plant operations.

The rising cost of construction has prompted a shift towards adaptive reuse, with an increase in reuse projects in Singapore over the past five years. According to Surbana Jurong, one of the leading engineering and urban design firms in Singapore, mechanical and electrical costs have risen by approximately 30% compared to pre-pandemic levels. This can be attributed to a 77% increase in logistic shipping costs, a 9% increase in labor costs, and a 15% increase in construction material prices, such as copper. The shortage of mechanical and electrical contractors has also contributed to the rise in construction costs, making it necessary for the industry to adopt smart design and engineering practices.

Adaptive reuse is becoming a popular response to rising costs, and proptech provides a platform for developers and contractors to gain real-time insights into key performance indicators like time, cost, quality, and safety. For example, Podium is a proptech platform developed by Lendlease and Surbana Jurong, aimed at connecting developers, designers, and the supply chain to drive sustainable building practices and deliver high construction productivity. By consolidating data from various sources, all stakeholders involved can access valuable data on design, civil and structural engineering plans, construction materials, and components. This information is crucial when making decisions about retaining or replacing structural elements in a building, which can save material, time, and labor.

Post-construction, Podium can integrate with other operational platforms to track building performance metrics like energy, waste, water, indoor air quality, and occupancy trends. This information can help drive operational carbon reduction goals. One of the primary contributors to operational costs is the utility cost of HVAC systems, which accounts for approximately 60% of total operating expenditure. Smart buildings can mitigate this cost by optimizing the life cycle of capital-intensive equipment like HVAC systems, lifts, and air handling units. This is done through a data-driven, long-term life cycle approach that prioritizes energy savings to offset energy tariffs from capital investments. The investment in smart building infrastructure also helps building owners comply with local and international regulations and sustainable financing requirements.

By leveraging sensors and AI-powered smart monitoring systems, building owners can monitor the performance of various components in a building’s M&E system. These systems provide specific details about the performance of each component, allowing asset owners to make informed decisions about replacing or retrofitting parts. This includes predictive maintenance for HVAC equipment, which can reduce downtime and improve efficiency. Sensors can be used to analyze vibrations in chiller equipment, detect abnormal temperatures or heat buildup, and identify potential equipment failures.

In conclusion, several factors will shape the future of FM in Singapore, including the mandatory energy improvement regime, climat…

When purchasing a condominium, it is crucial to also take into account the maintenance and management of the property. These types of properties commonly include maintenance fees that are responsible for the maintenance of shared spaces and amenities. Although these fees may increase the total cost of ownership, they are necessary in preserving the quality and value of the property. To make the investment more hands-off, investors can enlist the services of a property management company to handle the daily management of their condos. Additionally, Singapore projects are a great option for those interested in investing in condos.

Grab your deals now! Explore The MeyeriseSee The Meyerise ProfileBrowse The Meyerise recoursesDo The Meyerise transactions with comparative analysisSEE ALSO: [UPDATE] UOL snaps up Dunman View en bloc for $468 mil, with potential to build 488 unitsPublished on: 09 December, 2019 09:40 AM +0800

The Meyerise, a luxurious freehold condo, emerged as the top seller among private condos in the week of 29 November to 6 December. A 1,270 sq ft unit on the 24th floor was successfully sold for $3.52 million, achieving a new high of $2,771 per square foot. This record surpassed the project’s previous high of $2,764 per square foot by 0.25 percent. The former record was set in October last year after a four-bedroom unit was sold for $5.03 million, covering an area of 1,819 sq ft. Read more: Grange 1866 sets record high at $3,393 per square footAdvertisementAdvertisementOn December 6, the Meyerise was able to reach a new high of $2,771 per square foot after a 1,270 sq ft unit was successfully sold for $3.52 million. The sellers of this unit had originally purchased it for $2.32 million ($1,830 per square foot) back in May 2016. This means that they were able to pocket a profit of about $1.2 million over an eight-year period.The Meyerise has seen a total of nine units change owners this year and at an average price of $2,405 per square foot. Based on the absolute price, the most expensive unit that was successfully sold this year was an 2,056 sq ft four-bedroom unit with a study on the seventh floor. This unit was successfully sold for $4.5 million ($2,189 per square foot) on October 7th.The entire project was completed in 2015 and boasts a total of 239 freehold units. It is conveniently situated on Meyer Road, in prime District 15. It has two blocks of 31 storeys each, with units ranging from two to three bedroom units with sizes of between 872 sq ft to 1,313 sq ft, four-bedroom units that range between 1,819 sq ft and 2,056 sq ft, and a single penthouse unit covering a whopping 5,490 sq ft.The Meyerise is located within one km of two MRT stations, namely Tanjong Katong MRT station and Katong Park MRT station, which serve the Thomson-East Coast Line. It is also surrounded by several schools located within just 2km including Kong Hwa School, Tanjong Katong Primary School, Tanjong Katong Girls’ School as well as Tanjong Katong Secondary School.Pictured above: The Imperial is a luxurious freehold condo, boasting of 187 units situated along Jalan Rumbia in prime District 9. (Photo: Samuel Isaac Chua / EdgeProp Singapore)The Imperial emerged as the second top seller among private condos that recorded new highs during this review period. On December 5, a 1,410 sq ft three bedroom unit on the 14th floor was sold for $3.7 million, achieving a new high of $2,624 per square foot. This sale exceeded the project’s previous high of $2,566 per square foot by a whopping 2.3 percent. This previous record was set back in May last year after a 1,356 sq ft, three-bedroom unit was sold for $3.48 million.According to the URA caveats, this unit was previously purchased by the sellers back in September 2004 for $1.3 million or $925 per square foot. This translated to a profit of approximately $2.4 million overall.The last 10 resale transactions at The Imperial. (Source: URA, EdgeProp Singapore)The Imperial has successfully recorded six resale transactions this year with an average price of $2,414 per square foot. Just before the latest transaction on December 5th, the last unit to exchange hands at the Imperial was a 1,905 sq ft four-bedroom unit situated on the fifth floor. This unit was successfully sold for $4.6 million or $2,421 per square foot on November 28th.The Imperial is a luxurious freehold condo that consists of 187 units and is situated along Jalan Rumbia in prime District 9. It was completed in the year 2006 and boasts a unit mix consisting of two-bedroom units ranging from 980 sq ft to 1,012 sq ft, three-bedroom units that stretch between 1,356 sq ft to 1,991 sq ft, and four-bedroom units that cover sizes ranging from 2,034 sq ft to 3,552 sq ft. Read also: Freehold Amber 45 sets record high of $2,829 per square footAdvertisementCompleted back in 2016, Sky Vue emerged as the third top seller during the review period after it achieved a new high of $2,505 per square foot. This record was set on December 2 after the successful sale of a 1,141 sq ft three-bedroom unit situated on the 33rd floor, that was sold for an estimated $2.86 million.The sellers of this unit purchased it back in September 2020 for $1.86 million or $1,630 per square foot. These statistics therefore translated to a profit of approximately $1 million.This new high beats the project’s previous high of $2,366 per square foot by a whopping 5.9 percent. This previous record was set in August this year after a similar 1,141 sq ft, three-bedroom unit on the 14th floor was successfully sold for $2.7 million.Completed back in 2016, Sky Vue is a luxurious 99-year leasehold condo that consists of a total of 694 units. It is situated along Bishan Street 15 in District 20 and consists of two 37-storey towers that house one to three bedroom units that range between 484 sq ft to 1,259 sq ft in size.The condo is conveniently situated within walking distance of the Bishan MRT Interchange which serves both the North-South and Circle Lines. The station is located right across from the Bishan Bus Interchange and is connected to Junction 8 mall along Bishan Place, which houses an array of retail and dining outlets.There were no cases of new lows being recorded during the review period. Check out the latest listings for The Meyerise propertiesAsk BuddyTotal number of units in The MeyeriseCondo projects with most profitable transactions in District 15Show me condo listings in District 15Price trend chart for The MeyeriseAre there unprofitable transactions in The Meyerise?Total number of units in The MeyeriseCondo projects with most profitable transactions in District 15Show me condo listings in District 15Price trend chart for The MeyeriseAre there unprofitable transactions in The Meyerise?RELATED NEWSUnit at The Orchard Residences suffers $3.32 mil lossDEAL WATCH: Unit at The Meyerise on the market for $2.58 milRenewed interest in city-fringe projectsGrab your deals now! Explore The MeyeriseSee The Meyerise ProfileBrowse The Meyerise recoursesDo The Meyerise transactions with comparative analysisSEE ALSO: [UPDATE] UOL snaps up Dunman View en bloc for $468 mil, with potential to build 488 unitsPublished on: 09 December, 2019 09:40 AM +0800…

The sale of a spacious six-bedroom penthouse at JadeScape, a stunning 99-year leasehold condominium located on Shunfu Road, made headlines as the most profitable condo resale transaction of the week. The 4,230 sq ft unit situated on the 23rd floor was successfully sold at a remarkable price of $10.15 million ($2,399 per square foot) on December 9th.

The unit was initially purchased by the seller from the developer in December 2019 for $5.8 million ($1,371 per square foot), resulting in a significant profit of $4.35 million after owning the unit for just five years. This impressive capital gain of 75% translates to an annualised profit of 15%.

According to official records, this has been the largest gain achieved at JadeScape to date. The previous record was held by the sale of a 2,099 sq ft five-bedroom unit on the 10th floor for $4.42 million ($2,108 per square foot) on August 12th. The seller, who had purchased the unit from the developer in September 2019 for $3.28 million ($1,562 per square foot), made a profit of $1.14 million.

JadeScape, comprising seven residential towers and a total of 1,206 units, is strategically located at the junction of Marymount Road and Shunfu Road in District 20. The project, completed in 2022, offers a variety of unit types ranging from one- to five-bedroom apartments, ranging in size from 527 sq ft to 2,099 sq ft. There are also two luxurious penthouses spanning 4,230 sq ft each. Additionally, the condo is conveniently located within walking distance of Marymount MRT Station on the Circle Line.

In the same week, the successful sale of a 1,410 sq ft three-bedroom unit at The Imperial was the second most profitable condo resale deal. The unit was sold for a whopping $3.7 million ($2,624 per square foot) on December 5th. The seller had initially purchased the unit from the developer in September 2004 for $1.3 million ($925 per square foot), resulting in a handsome profit of $2.4 million (184%) after a 20-year holding period.

The Imperial, located on Jalan Rumbia in District 9, offers 187 freehold units spread over five blocks. The unit sizes range from 980 sq ft to 3,918 sq ft and include two- to four-bedroom apartments. The condo is conveniently located within walking distance of Fort Canning MRT Station on the Downtown Line and Dhoby Ghaut MRT Interchange, which serves the North-South, North-East, and Circle Lines.

On the other hand, the resale of a one-bedroom unit at The Montana was the least profitable condo transaction of the week. The 635 sq ft unit was sold for $1.02 million ($1,603 per square foot) on December 6th. The same unit was previously sold in July 2014 for $1.18 million ($1,863 per square foot), resulting in a loss of approximately $165,000 for the seller.

Located on Jalan Mutiara, off River Valley Road in District 10, The Montana is a freehold condo completed in 2002 with 108 units spread over a single 12-storey tower. The unit sizes range from 549 sq ft to 2,659 sq ft, comprising one- to four-bedroom apartments.

Location plays a crucial role in real estate investment, particularly in Singapore. The value of condominiums greatly relies on their location, with those situated in prime areas or near essential amenities such as schools, malls, and public transportation hubs experiencing a higher increase in value. The likes of Orchard Road, Marina Bay, and the Central Business District (CBD) have consistently shown a positive trend in property values over time. These areas are highly desirable, especially for families, due to their proximity to top schools and educational institutions, making them even more lucrative as investments. Keep an eye out for new condo launches in these sought-after locations for even greater potential for growth and returns. Don’t miss out on the chance to invest in these prime areas by exploring New Condo Launches in the market.

This year, there have been four other profitable resale transactions at The Montana, with units sold for prices ranging from $1,930 per square foot to $2,371 per square foot. The gains on these sales ranged from $80,000 to approximately $525,000.…

CapitaLand Ascendas REIT (CLAR) has announced its plans to acquire DHL Indianapolis Logistics Center, a top-notch logistics property, from Exel Inc. d/b/a DHL Supply Chain (DHL USA) for $150.3 million. This purchase presents a 4.1% discount to the market valuation of the property as of January 1, 2025.Completing the acquisition with an additional $1.7 million in transaction-related fees and expenses, along with a $1.5 million acquisition fee paid to the manager, the total cost for the property will be $153.4 million. The manager is planning to fund the acquisition through internal resources, proceeds from divestments, and/or existing debt facilities, according to a press release on December 17.Read also: CLAR plans to divest Jalan Buroh property at significant premium to cost and valuationAdvertisementAdvertisementFollowing the purchase, DHL USA will enter into a long-term leaseback agreement until December 2035 for the entire gross floor area (GFA) of the property, with options to renew for two additional five-year terms. The manager states that the long 11-year lease term, coupled with a built-in rent escalation of 3.5% per annum, will provide income stability and strengthen CLAR’s portfolio. The property is fully occupied and has a weighted average lease to expiry (WALE) of around 11 years, which will increase CLAR’s US portfolio WALE from 4.2 years to 4.7 years on a pro forma basis.AdvertisementThe first-year net property income (NPI) yield of the planned acquisition is approximately 7.6% before the transaction costs and 7.4% post-transaction costs. The manager expects an improvement of about 0.019 Singapore cents on the distribution per unit (DPU) for the financial year ending December 31, 2023, or a DPU accretion of 0.1%, assuming the purchase is completed on January 1, 2023.The property is expected to be completed in 2022 and is situated in Whiteland, a submarket in southeast Indianapolis, Indiana. The property is a fully air-conditioned, single-storey logistics building with a GFA of 979,649 sq ft. With this acquisition, the value of CLAR’s logistics assets under management (AUM) in the US will increase by 35.3% to approximately $587.5 million. Additionally, this purchase will expand CLAR’s logistics presence in the US to include 20 properties across four cities, encompassing a total GFA of approximately 5.1 million sq ft.Read also: CapitaLand Ascendas REIT to divest three Australian logistics properties for $64.2 milAdvertisementIn addition to the recent acquisition in Indianapolis, CLAR also has logistics assets in Kansas City, Chicago, and Charleston in the US. William Tay, executive director and CEO of the manager, stated that “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 top-quality 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.”RELATED NEWSCapitaLand Ascendas REIT to divest three Australian logistics properties for $64.2 milCapitaLand Ascendas REIT to acquire Seagate’s The Shugart in one-north for $218.2 milCapitaLand Ascendas REIT divests local industrial building at 219% premium from 2005 purchase price

Investing in real estate is a strategic decision, and the location of a property plays a crucial role in its success. This is particularly relevant in Singapore, where the value of condos is greatly impacted by their location. Condominiums situated in central areas or near important amenities such as schools, shopping malls, and public transportation hubs are known to appreciate in value significantly. Some examples of highly sought-after locations in Singapore include Orchard Road, Marina Bay, and the Central Business District (CBD), where property values have consistently shown positive growth. In addition, the proximity to reputable schools and educational institutions further elevates the investment potential of condos in these areas. To further explore potential investment opportunities in Singapore, check out Singapore Projects.…

Wee Hur Holdings has announced that it has entered into a binding agreement to sell its portfolio of seven purpose-built student accommodation (PBSA) assets to Greystar for approximately A$1.6 billion ($1.4 billion). The group’s portfolio comprises of over 5,500 beds across various cities in Australia. After the completion of the transaction, Wee Hur will retain a 13% stake in the portfolio through its subsidiary, Wee Hur (Australia). The net proceeds of approximately $320 million will be used to support the group’s strategic growth, reinvest in its core business, and venture into new areas such as alternative investments.

The transaction is expected to be completed within the next six months, subject to Greystar obtaining Foreign Investment Review Board (FIRB) approvals and Wee Hur obtaining consent from its shareholders. According to the group, this transaction showcases Wee Hur’s ability to navigate through complex market conditions, including the challenges posed by the COVID-19 pandemic and greenfield developments.

Wee Hur also states that the transaction supports its long-term strategy and ongoing efforts to diversify its portfolio and position the group for sustainable growth across multiple sectors. 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 capitalized on yet another opportunity to unlock maximum value for our stakeholders through this landmark transaction.”

Investing in a Singapore Condo has become a sought-after option for both local and foreign investors, thanks to the stable economy, political security, and exceptional standard of living in the city-state. With a flourishing real estate market, Singapore offers a plethora of investment opportunities, and condos stand out as a top choice. Not only do they offer convenience and attractive amenities, but they also hold the potential for high returns on investment. This article will delve into the advantages, considerations, and necessary steps for investing in a Singapore Condo.…

On December 16, Hoi Hup Realty and Sunway Developments, joint venture developers, successfully sold 137 units at the second round of balloting for Novo Place executive condominium (EC). This phase was exclusively open for second-timers, which refers to buyers who have previously purchased a subsidized flat, whether it be a new or resale HDB flat or an EC.

According to Mark Yip, CEO of Huttons Asia, the sale of these 137 units has brought the total units sold at Novo Place to 444, which represents 88.1% of the development. This significant achievement was reached in just one month since the launch on November 16, making it the best-selling EC project of 2024.

Yip states, “This reflects a strong interest from second-timers looking to upgrade their lifestyle. Many of the buyers are residents in the West.” He also notes that all four-bedroom units at Novo Place have been sold out, indicating a high demand for spacious homes.

Located at Plantation Close in the new Tengah town, Novo Place is just a five-minute walk from Tengah Park MRT station on the Jurong Region Line (JRL). This provides convenient access to major employment hubs in the West, such as the Jurong Lake District and Jurong Innovation District. Yip emphasizes that very few ECs offer such proximity to an MRT station.

When investing in Singapore, it is crucial for foreign investors to familiarize themselves with the rules and regulations regarding property ownership. While condos are generally accessible to foreigners, strict ownership guidelines apply to landed properties. This includes being subjected to the Additional Buyer’s Stamp Duty (ABSD), which stands at 20% for first-time foreign property buyers. However, the allure of Singapore’s stable and lucrative real estate market remains strong, making it a highly sought-after destination for foreign investment. Singapore Condos are a popular choice among foreign investors due to their accessibility and potential for growth in the market.

Huttons reports that many buyers have opted for the deferred payment scheme, which allows them to secure their desired unit first while deferring their home loan payments. This option helps ease the financial burden for HDB upgraders who still have an outstanding loan on their current flat.

“ECs are experiencing strong demand from HDB upgraders due to their comparable quality and finishes to private condominiums but at a more affordable price,” Yip adds. “Additionally, buyers enjoy upfront remission on the Additional Buyer’s Stamp Duty (ABSD).”

As of December 16, caveats lodged indicate that the average price of units sold at Novo Place is $1,656 psf. Interested buyers can check out the latest listings for Novo Place properties and explore comprehensive data about all ECs, including the average profit at 5 and 10 years. They can also find out the available units left in Novo Place and view condo sale transactions and upcoming new launch projects in District 24 on the website.…

According to data published by URA on December 16, developers have successfully sold a total of 2,557 new private homes, excluding executive condos (ECs), in November. This represents a 246.5% increase from the 738 units sold in October, as well as a 226% surge compared to the same period in 2023.

Christine Sun, chief researcher and strategist at OrangeTee Group, points out that this surge in sales marks the highest monthly developer sales since March 2013, when 2,793 units were sold, excluding ECs. Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors Inc (SRI), adds that this is the first time new home sales have surpassed the 2,000-unit mark in a single month since March 2013.

Lee Sze Teck, senior director of data analytics at Huttons Asia, explains that this significant rise in developer sales is a result of the unprecedented number of project launches in November. Five private residential projects were launched, including Chuan Park with 916 units, Emerald of Katong with 846 units, Nava Grove with 552 units, The Collective at One Sophia with 367 units, and Union Square Residences with 366 units.

A total of 2,871 new homes were launched for sale, excluding ECs, in November, reflecting a 438% increase from the previous month and a 196% increase from the same period in 2023. In addition, the 504-unit Novo Place EC also commenced sales in November, bringing the total number of new home sales to 2,891 units, which is a 277% spike compared to the previous month and a 226% jump from the same period in 2023.

So far, developers have sold an estimated 6,344 units as of November, only slightly higher than the 6,317 units sold in the first 11 months of 2023. This can be attributed to the 6,627 units that were launched for sale by developers during the same period in 2024. In comparison, 7,515 units were launched during the same period in 2023.

Top-selling projects in November include Emerald of Katong, which sold 840 units, or 99% of its 846 units. The 99-year leasehold development by Sim Lian Group is located in the Rest of Central Region (RCR) and has a median price of $2,627 psf. It is also the best-selling project by units and percentage in 2024. According to OrangeTee’s Sun, buyers were drawn to the project’s excellent design and offerings, with many looking to live near the East Coast. The recent interest rate cuts have also made mortgages more accessible, encouraging buyers to invest in this city-fringe project.

Next on the list is Chuan Park, developed by Kingsford Group with 721 units, or 79% of its 916 units, sold in November. The 99-year leasehold condo, located on Lorong Chua in the Outside Central Region (OCR), has a median price of $2,586 psf. Nava Grove, developed by MCL Land and Sinarmas Land, was the third best-selling project, with 382 units, or 69% of its 552 units, sold during the month. The 99-year leasehold, RCR development has a median price of $2,445 psf and is situated at Pine Grove in District 21.

Sun attributes the strong sales performance among the new launches to pent-up demand and improved buyer sentiment following the September interest rate cuts. She also notes that these attractive deals coincided with the simultaneous launch of several prominent projects, further incentivizing buyers to invest.

As you contemplate investing in a condo, it is crucial to also evaluate its potential rental yield. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. The rental yields for condos in Singapore can vary significantly, depending on factors such as location, property condition, and market demand. Typically, areas with high rental demand, such as those near business districts or educational institutions, offer better rental yields. It is essential to conduct extensive market research and seek guidance from real estate agents to gain valuable insights into the rental potential of a specific condo.

Lee adds that buying momentum has been increasing since the last quarter, with robust responses seen for projects such as 8@BT with 158 units and Norwood Grand with 348 units. The widened market also saw buyers who missed out on their desired unit in a specific project quickly committing to units in other new or existing projects. Last month, EdgeProp Singapore reported that the launch of Emerald of Katong had a ripple effect on neighboring projects, with Tembusu Grand and The Continuum experiencing increased take-up rates.

Moving forward, a quieter December is expected due to the school holidays and festive season. Lee predicts new private home sales to fall to 200 to 250 units, bringing the total sales for 2024 to about 6,500 units. This is slightly higher than the sales recorded in 2023. Lee also predicts a moderate price growth of 5%, compared to the 6.8% growth seen in 2023.

Looking into 2025, Sandrasegeran expects new home sales to pick up again in January with the launch of The Orie by City Developments, located on Lorong 1 Toa Payoh. This is the first new property launch in the area since Gem Residences in 2016, and the extended gap is expected to generate pent-up demand. Other launches expected in the first quarter of 2025 include Bagnall Haus with 113 units, Aurea with 186 units, and Aurelle of Tampines EC with 760 units.

Sun believes that the recent surge in sales is temporary, as new home demand has been subdued throughout 2024 due to the lack of significant private project launches. She also points out that developer sales during the first three quarters of 2024 were the lowest recorded since 2004, when URA data became available. Lee is cautiously optimistic about a better performance in the new sale market in 2025, projecting sales to rebound to 7,000 to 8,000 units and prices to grow between 4% and 7%.…

The latest addition to Hilton’s global hospitality portfolio is the newly opened Hilton Garden Inn Beihai Jiafu, located in the vibrant seaport city of Beihai, China. This milestone marks the company’s 100th Hilton Garden Inn property in the Greater China region. With 199 guest rooms, the hotel is conveniently situated just 2km from Beihai High-Speed Railway Station and 6km from Beihai Fucheng Airport. It is also only a short 20-minute drive to the Beihai International Passenger Port.

According to Qian Jin, the president of Hilton Greater China and Mongolia, the opening of Hilton Garden Inn Beihai Jiafu is a testament to the brand’s strong growth and longstanding commitment to the Chinese market. The Hilton Garden Inn brand first debuted in China in 2014 with the opening of the Shenzhen property, and has since expanded to several cities across the country, including Shanghai, Beijing, Chengdu, Guilin, and Aksu. The brand has plans to open more properties in China by 2025, with upcoming locations in popular tourist destinations such as Zhangjiajie, Ordos, Huangshan, Shanwei, and Jinan.

Investing in a Condo requires careful consideration of not only the property itself, but also its maintenance and management. These types of properties often have maintenance fees included in their costs, which cover the upkeep of communal areas and facilities. While this may increase the total cost of ownership, it also guarantees that the property maintains its value and remains in good condition. To further simplify the process for investors, hiring a property management company can take care of the daily management tasks, making it a more hands-off investment. By adding a reputable management company like Condo, investors can ensure that their investment is well-maintained and continues to hold its value.

Hilton’s expansion in China will also feature the debut of Hilton Garden Inn Gen A properties, a regional prototype specifically designed for Generation Alpha travelers in Greater China. In June, Hilton announced the launch of Hilton Garden Inn Gen A, with initial locations planned in Nanjing, Chengdu, Chengde, and Jinan. These new properties will contribute to the brand’s growth across the wider Asia Pacific region. Clarence Tan, senior vice president of development for Asia Pacific at Hilton, shares that there are currently over 200 Hilton Garden Inn properties in various stages of development across the Asia Pacific region.…

CapitaLand Investment Limited (CLI) is expanding its presence in Australia with the acquisition of Wingate Group Holdings’ property and corporate credit investment management business for A$200 million ($173 million), with an additional earn-out.

Once the acquisition is completed, CLI’s total funds under management (FUM) in Australia will increase by 30% to $8.3 billion, accounting for around 7% of its total of $115 billion. With a 2028 goal of reaching $200 billion in FUM, CLI has committed to investing up to A$1 billion to grow its FUM Down Under, a focus that comes a decade after the previous board and management sold its key assets in Australia to concentrate on faster-growing markets such as China.

Investing in a condo in Singapore comes with numerous benefits, one of the most notable being the potential for capital appreciation. Positioned as a global business hub, Singapore’s strong economic foundations have resulted in a consistent demand for real estate. This has led to a steady increase in property prices, particularly in prime locations, making condos a desirable investment option. By purchasing a condo at the opportune time and holding onto it for the long haul, investors can reap significant capital gains. To explore further investment opportunities in Singapore, check out Singapore Projects.

CLI’s recent investor day highlighted its plans to acquire Wingate, a move that was confirmed with the announcement on Dec 16, following earlier reports by the Australian media in November. Wingate is one of Australia’s leading private credit investment managers, with a track record of completing more than 350 transactions worth over A$20 billion.

CLI and Wingate have already established a partnership through the A$265 million Australia Credit Program (ACP), which closed in September. According to CLI, Wingate will contribute to its extensive deal origination network, provide access to more institutional and private high-net-worth investors, and increase its exposure to Australia.

CLI’s group CFO, Paul Tham, believes that besides Australia, there are also significant private credit opportunities in other Asia Pacific markets, including South Korea, India, and Japan. He adds that Australia is a focus market with potential for growth as CLI accelerates its geographical diversification efforts.

CLI states that the Australian private capital market has grown by 33% in the last 18 months, with assets under management reaching A$139 billion. By 2028, a projected commercial mortgage funding gap of A$146 billion is expected. With the acquisition of Wingate, CLI will further diversify its portfolio, which currently consists of logistics, business parks, office, and lodging assets across nine cities in Australia.

As of Sept 30, CLI manages 34 logistics properties and business parks and four Grade A office buildings in Australia. It also has over 13,500 lodging units in more than 150 properties through its wholly-owned lodging business unit, The Ascott. The acquisition of Wingate will strengthen CLI’s presence and growth potential in the Australian market.…