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Investing in a condominium or condo in Singapore has emerged as a highly sought-after option for both local residents and foreign investors. This can be attributed to the country’s strong economy, stable political atmosphere, and exceptional quality of life. The real estate market in Singapore presents a plethora of possibilities, with condos standing out for their various advantages such as convenience, amenities, and potential for significant returns on investment. For those considering investing in a condo in Singapore, it is worth exploring the benefits, important factors to consider, and necessary steps to take, especially with the constant launch of new condo developments.

HDB resale prices saw a 2.6% increase in the fourth quarter of 2024, marking the 19th consecutive quarter of price growth in the resale market according to data published by HDB on Jan 24. This brings the cumulative price increase in the public housing market to 9.7% over the course of the year. The yearly increase in prices almost doubled the 4.9% registered in 2023.

The surge in resale prices in the last quarter was slightly lower than the 2.7% increase recorded in the third quarter of 2024. According to Mohan Sandrasegeran, head of research and data analytics at SRI, the strong growth in resale prices throughout 2024 can be largely attributed to the limited supply of flats that reached their Minimum Occupation Period (MOP) during the year. This tight supply put upward pressure on prices, especially for newer flats and larger flat types like five-room and executive units that cater to growing families.

Among the various flat types in the HDB resale market, five-room flats saw the highest price growth in the fourth quarter of 2024, with the average resale price jumping 2.2% quarter-on-quarter (q-o-q) to $754,097. Resale prices for four-room flats also increased by 2.2% q-o-q to $652,544 in the same period.

The Central Area saw the highest increase in prices, growing 25.6% q-o-q, followed by Toa Payoh (12.1%), Tampines (6.9%), Bishan (6.7%), and Bedok (6.1%), according to Christine Sun, chief researcher and strategist at OrangeTee Group. About 285 HDB resale flats were sold for $1 million or more in the last quarter of 2024, bringing the total number of million-dollar HDB resale transactions for the whole year to 1,035. More than 90% of these transactions occurred in mature estates, with the Kallang/Whampoa estate recording the highest number at 156 units, followed by Toa Payoh (144 units) and Bukit Merah (135 units).

Resale transactions in the HDB market fell 21.1% q-o-q from 8,142 units sold in the third quarter of 2024 to 6,424 units sold in the fourth quarter. This dip can be attributed to seasonal factors such as the year-end holiday and festive season, says Lee Sze Teck, senior director of data analytics at Huttons Asia. He adds that the lower interest rate environment may also have encouraged some buyers to consider the private residential market or the Executive Condominium (EC) market. Additionally, some prospective buyers may have opted to ballot for a flat in the latest Build-to-Order (BTO) sales exercise held in October 2024, says Sandrasegeran. The BTO exercise saw HDB launch 15 projects comprising 8,573 flats under the new location-based classification framework, with singles now allowed to buy two-room flexi BTO flats in all locations for the first time.

Despite the quarterly dip, the overall resale transaction volume for 2024 increased by 8.4% y-o-y from 26,735 units sold in 2023 to 28,986 units sold in 2024. This marks the largest number of yearly resale transactions since 2021, when 31,017 flats were sold. According to transaction data compiled by Huttons Asia, Sengkang, Woodlands, Punggol, Tampines, and Yishun were the top five most popular HDB towns among buyers in 2024, accounting for about 35.9% of all HDB resales in the year.

Looking ahead, about 6,976 flats are expected to reach the end of their MOP this year, a 41.6% decrease from the 11,952 flats in 2024. Sandrasegeran attributes this to the relatively fewer BTO flats completed in 2020 during the Covid-19 pandemic. HDB has since announced plans to launch over 25,000 new flats across three BTO sales exercises in 2025, comprising 19,600 BTO flats and more than 5,500 flats under the Sale of Balance Flats (SBF) exercise. Approximately 3,800 of the 19,600 BTO units will be designated as Shorter Waiting Time (SWT) flats, with wait times of less than three years. Sandrasegeran forecasts that resale prices in the HDB market for 2025 could increase by 3.5% to 5.5%, with resale transaction volume ranging between 26,000 and 27,000. But Lee projects a more optimistic price increase of between 5% and 8% across the year.…

Investing in a condo offers various advantages, including the opportunity to leverage its value for further investments. It has become a common practice among investors to utilize their condos as collateral to secure additional financing for new investments, thereby diversifying their real estate portfolio. As a result, this approach can potentially amplify profits but also entails certain risks. Therefore, it is important to have a solid financial strategy in place and carefully analyze the potential effects of market fluctuations before making any investment decisions.
Additionally, keeping an eye on new condo launches, such as those listed on One Mind One Energy, can also be beneficial for investors looking to expand their portfolio and take advantage of emerging opportunities in the market.

Radisson Collection, an upscale hotel brand owned by the Radisson Hotel Group, has recently debuted a luxurious seafront property in the charming city of Galle, Sri Lanka. The newly opened Radisson Collection Resort, Galle is not only the brand’s first hotel in the Southeast Asia and Pacific region but also the fourth property of the group in Sri Lanka.

Offering a total of 106 guest rooms and suites, all of which boast breathtaking ocean views, the hotel provides the perfect blend of luxury and comfort for its guests. Among its many amenities, guests can enjoy a beachfront pool, a kids’ club that offers round-the-clock nanny services, and a variety of dining options, including the renowned Ozen, a fusion restaurant with Asian and Japanese influences, and the popular seafood dining spot Catch Restaurant. For those looking for some entertainment, the hotel also features Taboo Beach Club, a trendy beachfront area complete with sun loungers and daybeds with bottle service.

Located on the southwest coast of Sri Lanka, Galle has plenty to offer visitors. The city is home to Galle Fort, a 17th-century fortress that is recognized as a Unesco World Heritage site. In addition, Galle boasts numerous historic temples, impressive colonial structures, and various wildlife centers, including a sea turtle hatchery.

In other exciting news, Sri Lankan hotelier Teardrop Hotels has recently introduced luxury villa rentals in Galle, further enhancing the city’s appeal as a top holiday destination. And with the recent expansion of the Radisson Hotel Group’s portfolio in China and India, it is evident that the group is committed to providing travelers with exceptional experiences in some of the most sought-after destinations in the world.…

Meinhardt, a Singapore-based engineering consulting firm, has recently entered into a memorandum of understanding (MOU) with Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development (JOIN). As per the press release issued on January 17, the two organizations have joined hands to explore and implement digital and smart city projects in underdeveloped ASEAN countries.

The MOU aims to promote innovative and sustainable solutions for urban development through the exchange of knowledge and resources between Meinhardt and JOIN. The cooperation between the two parties will benefit from JOIN’s extensive network and expertise in supporting Japanese infrastructure exports, as well as Meinhardt’s leadership in integrated planning, design, and project management solutions.

JOIN is a public-private fund in Japan that facilitates investments in overseas infrastructure projects for Japanese companies. This collaboration with Meinhardt comes after the Memorandum of Cooperation (MOC) signed between Japan’s Ministry of Land, Infrastructure, Transport and Tourism and Singapore Cooperation Enterprise in November 2020, with the goal of promoting the development of digital and smart cities in ASEAN and other regions.

The demand for Singapore Condos is steadily rising due to several factors, with one of the major contributors being the limited supply of land in the country. Being a small island nation with a rapid population growth, Singapore faces a scarcity of land for development. This has led to stringent land use policies and a highly competitive real estate market, where property prices are constantly on the rise. Consequently, investing in real estate, particularly in Singapore Condos, has become a highly desirable opportunity, given their potential for significant appreciation in value. With Singapore Condo being a valuable asset in this scenario, it is no wonder that it is highly sought after by investors.

Utilizing the framework provided by the MOC, Meinhardt and JOIN will have a platform to share vital information, identify areas of synergy, and work together on projects, starting from the initial stages. This collaboration is expected to have a meaningful impact on cross-border sustainable development efforts.…

Minister for National Development Desmond Lee has announced the successful completion of two long-awaited housing projects by the Housing and Development Board (HDB), as stated in a press release on January 20th.

When it comes to investing in condos in Singapore, there is an important factor to consider – the government’s property cooling measures. In an effort to maintain a stable real estate market and prevent speculative buying, the Singaporean government has implemented various measures over the years. One of these measures is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may have an impact on the short-term profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a safer investment environment. To discover more about potential Singapore Projects, investors should take these measures into consideration when contemplating a condo investment in Singapore.

These two Build-to-Order (BTO) projects, namely Punggol Point Cove (Phase 2) and Kempas Residences, mark the finalization of all pandemic-delayed housing projects by HDB. Over the past five years, a total of 92 projects have been delivered, providing more than 75,800 new flats for the residents of Singapore.

In 2024, HDB has completed a total of 22 housing projects, 17 of which were delayed due to the pandemic. The remaining four projects were completed on time, except for one which faced non-pandemic related delays.

Out of these 22 projects, two were Shorter Waiting Time (SWT) projects, completed within a waiting period of less than three years – Parc Glen at Tengah and Grove Spring at Yishun, comprising of 1,995 flats. The rest of the projects had waiting times of up to five years, resulting in the completion of over 18,000 flats in 2024.

The keys to Punggol Point Cove (Phase 2) have been handed over to flat owners since November 2024, while the key collection for Kempas Residences started in January this year. HDB is expected to notify the remaining flat owners of their key collection date soon, following the completion of the final blocks within both projects this month.

Punggol Point Cove (Phase 2) is located along New Punggol Road, with a total of 1,179 units of two-room flexi, three-, four- and five-room flats across six residential blocks. After pandemic delays, the project’s last block was completed 12 months from its original Probable Completion Date (PCD) earlier this month. As of January 15, 657 households or 59% of the 1,109 booked units have collected their keys. HDB states that the completion of Punggol Point Cove (Phase 2) marks the end of all flats in the Punggol Point District, including Punggol Point Cove (Phase 1), Punggol Point Woods and Punggol Point Crown BTO projects, completed in 2024.

Kempas Residences BTO project, located between Serangoon Road, Lavender Street and Boon Kheng Road, comprises 583 units of two-room flexi, three-, and four-room flats across four residential blocks. The last block, delayed by six months from its original PCD, was also completed in mid-January. As of January 15, 37 households or around 7% of 555 booked units have collected their keys.

Currently, there are 110 HDB housing projects under construction, an increase from 95 a year ago due to the rise in BTO supply in recent years. HDB is on track to complete about 17,000 flats across 27 projects in 2025.…

Singapore real estate giant City Developments Limited (CDL) has announced its plans to acquire Millennium & Copthorne Hotels New Zealand Limited (MCK) through its subsidiary, CDL Hotels Holdings New Zealand Limited (CDLHH NZ). The proposed offer is for a price of NZ$2.25 (approximately $1.72) per share, which represents a significant premium for MCK shareholders.

CDL has stated that upon the completion of this offer, it intends to delist and privatize MCK in order to simplify the ownership structure of its New Zealand entities. Currently, MCK owns, leases or franchises 18 hotels in New Zealand and also has interests in properties in Australia through its Kingsgate Group subsidiaries.

As of the close of trading on January 17, CDLHH NZ already holds 80.02 million MCK shares, which represents a significant 75.86% stake, based on 105.48 million MCK shares in issue. In the event that CDLHH NZ reaches the necessary threshold to invoke compulsory acquisition under the New Zealand takeovers code, it will acquire all outstanding MCK shares. Additionally, CDLHH NZ has expressed its willingness to purchase the non-voting redeemable preference shares issued by MCK at a price of NZ$1.70 (approximately $1.30) each.

In total, if the offer is fully accepted, CDLHH NZ will pay NZ$57.29 million for the MCK shares and an additional NZ$7.77 million for the redeemable preference shares. The offer price takes into consideration various factors, including the current and historical market price of MCK shares, as well as the industry and business environment that MCK operates in.

Based on MCK’s financial results for the first half of fiscal year 2024 (ended June 30, 2024), its net asset value (NAV) and net tangible asset value (NTA) stood at NZ$532.02 million and NZ$85.62 million, respectively. CDLHH NZ’s offer price is in line with these values.

The high demand for condos in Singapore reflects the limited availability of land in this small island nation. As the population continues to grow at a rapid pace, the government has implemented stringent land use policies, resulting in a competitive real estate market with rising property prices. As a result, investing in real estate, particularly in Singapore condos, has become a lucrative opportunity with the potential for substantial capital appreciation. With the scarcity of land in Singapore, Singapore condos have become one of the most sought-after property types in the country.

The offer is subject to certain conditions, including CDLHH NZ receiving 90% or more of the voting rights in MCK by 5pm on May 2, as well as obtaining consent under the Overseas Investment Act 2005 of New Zealand and the Overseas Investment Regulations 2005 of New Zealand. However, the implementation and payment of this offer is not expected to have a significant impact on CDL’s earnings per share (EPS) or net tangible assets (NTA) for fiscal year 2025, which ends on December 31.…

Recently launched projects

Teo Hong Lim, executive chairman of property developer Roxy-Pacific Holdings, has announced that the launch of Bagnall Haus, a freehold condominium, on Jan 18 was a huge success with sales of 71 out of 113 units. That translates to a remarkable sales rate of almost 63%, with units fetching an average price of $2,490 psf.

According to Teo, the majority of buyers were Singaporeans, comprising over 90% of the total. He added that most of these buyers were end-users with varying budgets. The strong take-up rate was evident across all unit types, with the two- and three-bedroom units proving to be the most popular. However, there was also significant demand for the larger five-bedroom units.

When looking into purchasing a condo, it is crucial to take into account the maintenance and management of the property. Maintenance fees are typically included in condo ownership and cover the maintenance of shared spaces and amenities. Although these fees may increase the overall cost of ownership, they also guarantee that the property stays in good condition and maintains its value. For investors seeking a more hands-off approach, hiring a property management company can assist with the daily upkeep of their condos, making it a more passive investment. Additionally, keeping an eye on new condo launches can provide opportunities for potential investments.

Situated along Upper East Coast Road in District 16, Bagnall Haus consists of 113 residential units spread across three five-storey blocks on a freehold site covering an impressive 74,280 sq ft. The units are a mix of 495 sq ft one-bedroom plus flexi units and 1,528 sq ft five-bedroom units.

For the latest New Launches, visit our website to learn more about the transaction prices and available units.

Ismail Gafoor, CEO of PropNex, reports that out of the 71 residential units sold at Bagnall Haus, about 59% were one- and two-bedroom units. The average selling price for these units was just under $2.1 million. Gafoor adds that the three-bedroom units were also in high demand, with 18 out of 20 snapped up at prices ranging from $2.3 million to $2.7 million. The remaining four- and five-bedroom units were sold for approximately $3 million to $3.8 million.

“We believe that the pricing, which is generally below $3 million, is very attractive to most buyers,” says Gafoor.

The average transacted price of $2,490 psf is also considered very competitive for a well-located freehold development, notes Gafoor. “Buyers saw the value in this project, especially when some 99-year leasehold new launches in the Outside Central Region (OCR) such as Chuan Park were launched in November 2024 with an average price of $2,579 psf.”

In addition to the 71 residential units sold, both 172 sq ft strata-titled shop units on the ground floor of Bagnall Haus have also been snapped up at $688,000 each ($4,000 psf).

“Most of the buyers were owner-occupiers,” says Marcus Chu, CEO of ERA Singapore. He explains that although some were homeowners of older landed properties looking to downsize into newer and more manageable apartments, others were families from the neighbourhood seeking to upgrade to a freehold property.

Chu notes that Bagnall Haus benefits from its proximity to established amenities and well-regarded schools, including Temasek Primary School, which is within a 1km radius.

Read also: Bagnall Haus: a rare freehold project steps from Sungei Bedok MRT, one stop from Bayshore’s transformation

The development is within walking distance of the upcoming Sungei Bedok MRT Station, an interchange for the Downtown and Thomson-East Coast lines. It is just one stop from Bedok South MRT Station, which will be part of an integrated transport hub featuring a new bus interchange within the upcoming Bayshore precinct. This transport hub will also be part of a mixed-use development incorporating retail and residential components.

“The pent-up demand, stemming from a 15-year wait for a new project in the area, along with its freehold tenure, have helped drive sales at Bagnall Haus,” says Mark Yip, CEO of Huttons Asia. “It is also rare to find a freehold project right next to an MRT station. Buyers recognized the potential benefits of the upcoming transformation of the Bayshore precinct.”…

During the week of Dec 27 to Jan 3, Commonwealth Towers emerged as the top private non-landed property to reach a new psf-price peak. The 99-year leasehold condominium recorded a new price high of $2,460 psf on Dec 27, when a three-bedroom unit on the 40th floor was sold for $2.22 million. This surpasses the previous high of $2,402 psf set just three months ago, when a two-bedroom unit on the 42nd floor was sold for about $1.65 million in September 2024.

Commonwealth Towers has been experiencing an upward trend in its average resale prices for the past three years. In 2022, the project had an average psf-price of $1,971 and recorded 53 transactions. This increased to $2,097 psf in 2023, with 51 resale transactions. Last year, there were 37 resale transactions at an average price of $2,200 psf, marking an 11.6% increase in average resale prices since 2022.

The most expensive unit to change hands at Commonwealth Towers was a four-bedroom unit on the 39th floor, which sold for $2.96 million or $2,273 psf in November 2024.

Built in 2017, Commonwealth Towers is a 99-year leasehold condo with 87 years remaining on its tenure. It consists of two 43-storey residential blocks with 845 condo units ranging from one to four bedrooms, spanning 441 sq ft to 1,302 sq ft.

Parq Bella, a boutique freehold project on Tembeling Road in District 15, took the second spot on the list of private residential projects to see a new psf-price peak during the period in review. The development achieved a new psf-price high of $2,416 psf when a three-bedroom unit on the fourth floor was sold for $2.6 million on Dec 31. This also marks the first transaction at Parq Bella to surpass $2,400 psf.

The previous psf-price record at Parq Bella was set in August 2023, when a two-bedroom unit on the fourth floor was sold for $2.2 million or $2,385 psf.

Parq Bella has 20 apartments ranging from two to four bedrooms, with floor plans spanning from 926 sq ft to 1,787 sq ft. The project is expected to be completed by December 2026 and has recorded five new sale transactions last year at an average price of $2,347 psf. Since its launch in 3Q2023, Parq Bella has sold 19 out of 20 units (95%) at an average price of $2,244 psf, based on caveats lodged as of Jan 14.

Klimt Cairnhill, a freehold luxury project, was the only private residential development to see a new psf-price low during the period in review. The record floor came from the developer’s sale of a two-bedroom unit on the 24th floor for $2.55 million on Jan 3, translating to $3,077 psf.

Klimt Cairnhill has a total of 138 apartments in two- to four-bedroom configurations, with sizes ranging from 829 sq ft to 2,368 sq ft. The project achieved 100% sales at an average price of $3,665 psf, based on caveats lodged. It was previewed in August 2021 and officially launched in January 2023.

Located along Cairnhill Road in Prime District 9, the development also has two penthouses of 4,898 sq ft and 5,920 sq ft. It is expected to obtain its Temporary Occupation Permit in April this year.

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The ever-increasing popularity of condominiums in Singapore can be attributed to a significant factor – the limited availability of land. As a small island country with a rapidly growing population, Singapore is facing a critical challenge in terms of land scarcity for development. To combat this, strict regulations on land use have been put in place, resulting in a highly competitive real estate market and constantly rising property prices. This has created an ideal environment for real estate investment, particularly in condos, which offer the potential for substantial capital appreciation. As the demand for condos continues to skyrocket, they remain a highly coveted asset in Singapore’s dynamic and thriving real estate industry. Condo continues to be a lucrative investment option in the country.…

estimates

Housing Development Board (HDB) has announced that they will be launching over 25,000 new flats in 2025, according to a joint press release by HDB and the Ministry of National Development (MND) on January 16. This includes about 19,600 build-to-order (BTO) flats across three sales exercises and more than 5,500 sale of balance flats (SBF) in one SBF sale exercise. The units will be a mix of Standard, Plus, and Prime BTO flats under the new classification framework.

The February BTO launch will offer approximately 5,000 flats in Kallang/Whampoa, Queenstown, Woodlands, and Yishun. Next month, HDB will also conduct its largest-ever Sale of Balance Flats (SBF) exercise, offering over 5,500 flats across various estates. About 40% of the flats in the SBF exercise are completed units, while the rest are at different stages of construction and are expected to be completed between 2025 and 2028.

In total, more than 10,000 new flats will be available under the February BTO and SBF exercises. Over the last four years, from 2021 to 2024, HDB has launched about 82,700 BTO flats. With a planned pipeline of 19,600 BTO flats in 2025, HDB is on track to launch around 102,300 BTO flats—exceeding its commitment of 100,000 units over five years.

The increase in BTO supply has led to a drop in application rates. In 2024, the average application rate among first-time homebuyers for BTO across all flat types was 2.1, compared to the pre-pandemic rate of 3.7 in 2019. The average first-timer application rate last year for three-room and larger flats was 2.2, down from 4.0 in 2019.

HDB will continue to release a steady pipeline of flats to meet housing demand in the next few years, says Minister for National Development Desmond Lee. Over 50,000 flats will be launched between 2025 and 2027, bringing the total to about 130,000 flats from 2021 to 2027.

About 3,800 of the 19,600 new flats, or about one-fifth of the BTO flats slated for launch in 2025, will be Shorter Waiting Time (SWT) flats of less than three years. This is a boost from the 2,876 SWT flats offered in 2024 and more than the committed annual supply of 2,000 to 3,000 SWT flats. “The SWT flats will also increase the options for buyers and may attract some demand away from the resale market,” says Lee Sze Teck, senior director of data analytics at Huttons Asia.

In 2025, Lee estimates that about 7,000 HDB flats will reach their five-year minimum occupation period (MOP), making it the lowest supply of such resale flats since 2015. “With HDB assuring buyers that they will push out more BTO and SBF flats to meet demand, this will offer more choices for buyers and stabilise the resale market,” he says. “This larger flat supply and SWT flats will address the shortfall in MOP flats.”

Huttons’ Lee estimates that HDB resale flat transactions in 2025 will range between 26,000 and 28,000, lower than the 28,876 units recorded last year. Resale flat prices are expected to grow at a slower pace of 5% to 8% this year, compared to the 9.6% increase reflected in HDB’s flash estimate for 2024.

When purchasing a condominium, it is crucial to factor in the maintenance and management of the unit. Condos usually have fees for maintenance, which encompass the maintenance of shared spaces and amenities. Although these fees may increase the total cost of owning a condo, they also guarantee that the property is well-maintained and retains its value. Hiring a property management firm can assist investors in managing their condos on a daily basis, ensuring a more hands-off investment. Check out Singapore Projects to learn more about condo investments.…

The recent sale of a three-bedroom penthouse at Orchid Mansion, located on Amber Road in District 15, proved to be highly profitable for the seller. The freehold development saw a resale transaction on Dec 31, resulting in a profit of $2.58 million (112%). This was the most profitable transaction between Dec 31, 2024, and Jan 7, 2025.

Spanning over 2,842 sq ft on the 21st floor, the unit was sold for $4.88 million ($1,717 psf). It was purchased for $2.3 million ($809 psf) in March 2009, making the annualized profit 4.9% over a period of nearly 16 years. This sale also sets the record for the most profitable resale transaction at Orchid Mansion, surpassing the previous record of $1.15 million (72.6%), when a 1,507 sq ft three-bedroom unit on the seventh floor was sold for $2.73 million ($1,812 psf) in July 2022. This unit was bought for $1.58 million ($1,050 psf) in June 2007.

In other news, a 1,625 sq ft unit at Villa Marina was also sold for a handsome profit of $1.72 million (273%) on Jan 3. The three-bedroom unit on the ground floor was sold for $2.35 million ($1,446 psf), after being purchased for $630,500 ($388 psf) in September 2006. This translates to an annualised profit of 7.6% over 18 years, as well as surpassing the previous record of $1.58 million (219%) for the sale of a 1,916 sq ft unit on the fourth floor, which was sold for $2.3 million ($1,200 psf) on July 16 last year. This unit was previously bought for $720,416 ($376 psf) in November 1998.

Villa Marina, a 99-year leasehold development located at Jalan Sempadan in District 15, boasts 27 low-rise residential blocks with a mix of one- to four-bedroom units ranging from 1,087 sq ft to 2,314 sq ft. The 460,685 sq ft site is situated close to Siglap MRT station on the Thomson-East Coast Line and East Coast Park, and is also in close proximity to several primary schools.

When purchasing a condo, it is crucial to take into account the maintenance and management aspects of the property. Condominiums usually have maintenance fees that cover the maintenance of shared facilities and common areas. Although these fees may increase the overall cost of owning a condo, they also guarantee that the property is well-maintained and maintains its value. A recommended option for investors is to utilize the services of a property management company, which can effectively handle the day-to-day management tasks of their condos, freeing up time for a more passive investment. Additionally, for a wide selection of Singapore projects, take a look at our website.

On the other hand, the most unprofitable resale transaction of the week occurred on Jan 2, when a 1,130 sq ft unit at Marina Bay Residences was sold for a loss of $386,000 (16%). The two-bedroom unit on the 17th floor was sold for $2.1 million ($1,858 psf), after being bought for $2.49 million ($2,200 psf) in November 2007. This translates to an annualised loss of 1% over 17 years.

In 2024, Marina Bay Residences recorded 25 resale transactions, with 13 resulting in unprofitable transactions ranging from $1.25 million to $43,600. The most unprofitable transaction involved a 1,227 sq ft unit, sold for $2.8 million ($2,282 psf) on March 22, 2024.

Based on a tabulation of resale caveats at Marina Bay Residences, the average resale price last month was $2,242 psf, higher than the average price at surrounding condos such as The Sail @ Marina Bay ($2,052 psf), Marina Bay Suites ($1,917 psf), and Marina One Residences ($2,133 psf).

Notably, Marina Bay Residences recently underwent a $5 million revamp from Jan 2022 to Sept 2023 to upgrade the facilities and common spaces throughout the 15-year-old condo. The 428-unit development is one of two 99-year leasehold luxury condos in Marina Bay Financial Centre, which also comprises three Grade-A office towers and the 221-unit Marina Bay Suites.…

City Developments Limited (CDL) has announced that it has divested assets worth more than $600 million last year as part of its capital recycling strategy, with several more in the pipeline.

The total amount of divested assets fell short of the company’s initial target of $1 billion set in early 2024, as market conditions dampened the volume of deals in most markets and asset classes.

The completed divestments include the Ransome’s Wharf site in London, the freehold 8-storey Cideco Industrial Complex in Singapore, as well as various strata units at Citilink Warehouse Complex, Cititech Industrial Building, Fortune Centre and Sunshine Plaza in Singapore.

When contemplating an investment in a condominium, it is crucial to also evaluate the potential rental yield. The rental yield refers to the annual rental income as a percentage of the property’s initial price. In Singapore, the rental yields for condos can vary significantly depending on a range of factors, including location, the condition of the property, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, offer more favorable rental yields. To gain a comprehensive understanding of the rental potential of a specific condo, it is essential to conduct thorough market research and seek advice from reputable real estate agents. For more information on potential investment opportunities, please visit Singapore Projects.

CDL had also announced the launch of The Orie, a joint project with Frasers Property and Sekisui House, in Toa Payoh with units priced from $1.28 million. The company has also divested its stake in Hong Leong City Centre, a mixed-use development in Suzhou, which is under contract and scheduled for completion in the current quarter.

According to Group CEO Sherman Kwek, the divestment of assets reflects the company’s focus on accelerating its capital recycling efforts. Despite the challenging market conditions, the company has managed to achieve good momentum and will continue to drive its divestment plans.

The company aims to optimize its capital management while aligning its portfolio with its strategic objectives and maximizing shareholder value. Completed divestment deals will help the company recycle its capital and fund future investments.

CDL’s shares closed at $5.05 on January 16, down 0.2% for the day and 20.97% down in the past year. The company has a track record of divesting non-core assets to focus on its core business and is expected to continue this strategy in the future.…