The Urban Redevelopment Authority (URA) has given the go-ahead for the proposed conservation of Golden Mile Tower on a voluntary basis. This would only take place if the 99-year leasehold development is successfully sold in a collective sale and the new owner intends to redevelop the property.

According to documents obtained by EdgeProp Singapore, the government has specified that if the developer chooses to conserve at least the existing cinema block, it could potentially increase the site’s permissible gross plot ratio (GPR) from 4.46 to 5.6, based on the current site area of 93,902.5 sq ft. This would in turn increase the allowable gross floor area (GFA) for the future redevelopment to 525,854 sq ft, a significant boost from its current GFA of 419,142 sq ft. Additionally, the voluntary conservation option would also grant a higher maximum building height of 164m, as opposed to the current limit of 145m.

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One key factor to consider when investing in condos in Singapore is the impact of the government’s property cooling measures. In recent years, the Singaporean government has implemented various measures to control speculative buying and maintain a steady real estate market. These measures include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign investors and individuals purchasing multiple properties. While these measures may affect the immediate profitability of condo investments, they also contribute to the overall stability of the market, making it a more secure environment for investors. It is important to note that there are several Singapore projects that comply with these measures and offer attractive investment opportunities. As such, potential condo investors should carefully consider the government’s cooling measures and their long-term impact on the market before making any investment decisions.

In recent news, Cover Projects was awarded the tender to develop a heritage building at 26 Evans Road, located near Golden Mile Tower. The most recent attempt to sell Golden Mile Tower collectively was made in August last year, with a reserve price of $556 million. This was the third collective sale attempt by the owners of the 99-year leasehold development.

According to Anna Tan, the business development director at Tag Realty, which is the marketing agent for the collective sale of Golden Mile Tower, the reserve price for the 99-year leasehold development has remained unchanged. This would translate to a land rate of $1,350, including the cost of renewing the land tenure but not taking into account any land betterment charges.

“The increase in building height under the voluntary conservation option presents opportunities for developers to transform the property into an iconic landmark on the city skyline. It also means that the new development could potentially feature 5m floor-to-ceiling heights for commercial and hotel spaces, while residential units could offer 3.6m ceiling heights,” says Tan.

With the recent gazetting of the neighbouring Golden Mile Complex as Golden Mile Singapore, this approval for voluntary conservation of Golden Mile Tower is particularly significant. Golden Mile Singapore, which is a joint development by Perennial Holdings and Far East Organization, launched its commercial units in December last year. The new residential units, housed within a 45-storey tower, are expected to be launched in the current quarter.

“This presents a rare opportunity to redevelop Golden Mile Tower, especially considering the limited land supply along Beach Road and the boost in property values due to initiatives such as the launch of Golden Mile Singapore and the neighbouring Kallang Alive masterplan,” adds Tan.

She goes on to say that the redevelopment of Golden Mile Tower presents a unique opportunity to create a brand-new mixed-use development in a highly sought-after location along Beach Road. The heritage of the building and its potential for the future make it an attractive investment choice for both local and international investors.…

The weekend of Jan 4-5 saw a remarkable turnout at the sales gallery of Bagnall Haus at Upper East Coast, with 1,500 visitors in attendance. According to Teo Hong Lim, the executive chairman of developer Roxy-Pacific Holdings, many of these visitors were families in groups, most of whom were current residents of the East.

As one of the first new project launches of 2025, Bagnall Haus has attracted much attention. The freehold condo, which comprises of 113 units, is a redevelopment of the former Bagnall Court. The developer had acquired the site in January 2023 for $115.28 million.

Conveniently situated, the project is only a short five-minute walk from the upcoming Sungei Bedok MRT Interchange Station and Upper East Coast Bus Terminal. For those interested in the latest New Launches, they can check out the transaction prices and available units.

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Acquiring a comprehensive understanding of the rules and constraints surrounding property ownership in Singapore is essential for international investors. When it comes to purchasing condominiums, foreign individuals face less stringent regulations compared to those for landed properties. However, it is crucial to be aware that first-time foreign buyers are subject to an Additional Buyer’s Stamp Duty (ABSD) of 20%. Despite this additional expense, the stability and potential for growth in the Singapore real estate market make it an extremely attractive option for foreign investors. This is why investing in Singapore Projects is a prime opportunity for those seeking to enter this market. Singapore Projects should be a top consideration for investors looking to enter the Singapore market.

It is worth noting that the last new project launched in the Upper East Coast Road neighbourhood was 15 years ago. In order to appeal to a wide range of buyers, including investors, owner-occupiers, singles, and families, the developer has included a variety of unit types. Ranging from one-bedroom plus flexi units at 495 sq ft to five-bedroom units at 1,528 sq ft, prices start from $1.235 million ($2,495 psf). The average indicative price, according to the developer, is around $2,450 psf.

If you’re interested in Bagnall Haus properties, you can browse the latest listings and even ask for assistance from Buddy. For a quick summary of the project, one can compare price trends of HDB, Condo, and Landed properties or explore recently launched and upcoming new launch projects.

Comparing the price trend of Condo new sale versus EC new sale can also provide valuable insights. In summary, Bagnall Haus at Upper East Coast has certainly captured the attention of many buyers, and it’s not difficult to see why.…

Why these HDB flats are worth millions

HDB flash estimates released on Jan 2, 2025 indicate a 2.5% quarter-on-quarter increase in resale flat prices in the fourth quarter of 2024, slightly slower than the 2.7% growth in the previous quarter. This marks the 19th straight quarter of price increases in the HDB resale market.

The flash estimates also show a 9.6% increase in HDB resale prices in 2024, twice the 4.9% growth recorded in 2023. However, this is still lower than the 10.4% price increase in 2022 and the 12.7% growth in 2021, according to Christine Sun, chief researcher and strategist at OrangeTee Group.

The HDB caveat data from data.gov.sg, retrieved on Jan 2, 2025 at 8:15am, has shown a slower growth rate in prices for some types of flats, as noted by OrangeTee. For instance, the median price of four-room flats increased by 2.5% compared to the 3.4% growth in the third quarter of 2024.

Similarly, two-room flats saw a 2% increase in the fourth quarter, which is slower than the 3.9% growth in the previous quarter. On the other hand, executive flats recorded a 1.2% quarter-on-quarter price increase in the fourth quarter, as compared to 1.7% in the third quarter of 2024.

In contrast, five-room flats saw a faster growth rate of 3.2% in the fourth quarter of 2024, compared to the 1.2% growth in the third quarter.

Resale Volume Down 3.6% Year-on-Year in Fourth Quarter of 2024

The resale volume in the fourth quarter of 2024 was 6,314 units, a 3.6% decrease from the 6,547 transactions in the same period of 2023. It also saw a 22.5% quarter-on-quarter decrease from the 8,142 transactions in the third quarter of 2024.

Sun attributes the decline in HDB resale transactions to the October Build-to-Order (BTO) exercise, which saw the launch of over 8,500 new flats, many of which were located in prime and desirable locations. “The attractive features of these flats, including scenic views and proximity to MRT stations, diverted demand away from the resale market towards the BTO market,” she explains.

Sales also slowed down during the year-end school holidays, when many Singaporeans tend to travel abroad. This typically leads to a decrease in house viewings and sales activities.

When contemplating an investment in a condo, it is essential to also evaluate its potential rental yield. Rental yield is the amount of annual rental income expressed as a percentage of the condo’s purchase price. In Singapore, the rental yields for condos can vary greatly depending on factors such as location, property condition, and market demand. Generally, areas in high demand for rentals, like those near business districts or educational institutions, offer better rental yields. It is crucial to conduct proper market research and seek advice from real estate agents to gain valuable insights into the rental potential of a particular condo. If you are interested in learning more about condos, visit Condo for further information.

However, Wong Siew Ying, head of research and content at PropNex, attributes the slower growth rate in the fourth quarter of 2024 to government intervention in August of that year. This included a reduction of five percentage points in the loan-to-value (LTV) limit for HDB loans to 75%. “Based on the weaker sales and slower growth in the HDB resale price index in the fourth quarter of 2024, the August 2024 measures are likely to be impacting the market,” says Wong. She adds that the lower resale volume during the quarter could have also contributed to slower price growth.

Total Resale Volume in 2024 Rises 8% from Previous Year

The total resale volume in 2024 reached 28,876 units, an 8% increase from the 26,735 units in 2023 and the 27,896 units in 2022. However, this is still lower than the peak of 31,017 units in 2021.

The data, retrieved from PropNex Research and data.gov.sg on Dec 31, 2024, shows a decrease in the number of million-dollar flat transactions in the fourth quarter of 2024. There were only 283 transactions, compared to 331 in the third quarter of that year. Despite this decline, the total number of million-dollar transactions in 2024 reached a record high of 1,033 units, more than double the 469 transactions in the previous year.

Toa Payoh Town Leads Million-Dollar Resale Flat Deals in Fourth Quarter of 2024

Toa Payoh town saw the highest number of million-dollar resale flat transactions in the fourth quarter of 2024, with 58 transactions. 20 of these transactions were for four- and five-room flats at Alkaff Vista in Bidadari Park Drive, which had recently crossed the five-year minimum occupation period (MOP).

The new classification of Plus and Prime classification BTO flats may have played a role in driving more homebuyers towards HDB resale flats in central locations, says Eugene Lim, key executive officer of ERA Singapore. “These buyers may not be willing to accept the resale restrictions such as a 10-year MOP, rental restrictions after MOP, subsidy clawback upon resale, and resale income cap for future buyers.”

HDB Resale Prices Expected to Continue Rising, but at a Slower Rate in 2025

OrangeTee expects HDB resale prices to continue growing in 2025, but at a slower pace than in previous years. Prices have already reached new highs in many areas, which could pose affordability concerns for potential buyers. Sun also notes that the ongoing supply of BTO flats could help moderate price growth in the resale market. However, the extent of price stabilisation will depend on the number of BTO flats released by the government in the upcoming years.

HDB To Launch Largest Sale of Balance Flats Exercise in February 2025

In February 2025, HDB will launch its largest sale of balance flats (SBF) exercise, offering more than 5,500 flats across various towns, says Lee Sze Teck, senior director of data analytics at Huttons Asia. “Some prospective resale flat buyers may decide to wait and try their luck,” he adds.

Interest Rates Could Go Lower in 2025, Allowing Buyers to Take On Larger Loans

Interest rates could decrease in 2025, which would allow buyers to take on larger loans to purchase a new home. “Some buyers may also consider an executive condo (EC) or a resale condo,” says Lee. He projects that the million-dollar flat market may stabilise between 900 to 1,200 units in 2025.

Huttons expects HDB resale flat transactions to reach between 26,000 to 28,000 in 2025, with prices expected to increase at a slower pace of 5% to 8%.…

The latest flash estimates released by HDB on January 2nd show a 2.5% increase in resale flat prices in the fourth quarter of 2024, a slight slowdown from the previous quarter’s growth of 2.7%. This marks the 19th consecutive quarter of price increases in the HDB resale segment.

Investing in real estate is a wise choice, but the location plays a significant role in its success. This is especially true in Singapore, where the value of condos is largely influenced by their location. Properties located in central areas or near important amenities, such as schools, shopping malls, and public transportation hubs, tend to have a higher appreciation rate. This is evident in areas like Orchard Road, Marina Bay, and the Central Business District (CBD), where property values have consistently shown a positive trend. Furthermore, the demand for condos in these prime locations is amplified by their close proximity to reputable schools and educational institutions, making them a top choice for families looking to invest in real estate. For more information on upcoming Singapore projects, visit Singapore Projects.

According to Christine Sun, chief researcher and strategist at OrangeTee Group, the resale prices for HDB flats grew by 9.6% in 2024, double the 4.9% growth in 2023. However, this was still slower than the 10.4% price increase in 2022 and the 12.7% growth in 2021.

OrangeTee also notes that according to HDB caveat data from data.gov.sg, there has been a slowdown in price growth for certain flat types. The median price for four-room flats saw a 2.5% increase in the fourth quarter of 2024, a slower pace than the 3.4% growth in the third quarter. Similarly, the prices of two-room flats rose by 2% in the fourth quarter of 2024, compared to 3.9% in the previous quarter. Executive flats also registered a 1.2% increase in the fourth quarter, compared to 1.7% in the third quarter. In contrast, the prices for five-room flats saw a faster growth of 3.2% in the fourth quarter, compared to 1.2% in the third quarter.

Resale volume in the fourth quarter of 2024 was down by 3.6% year-on-year to 6,314 units from 6,547 units in the fourth quarter of 2023. It was also down by 22.5% quarter-on-quarter from 8,142 units in the third quarter.

Sun attributes the decline in resale transactions to HDB’s launch of over 8,500 new flats in the October Build-to-Order (BTO) exercise, especially in prime and desirable locations. This may have diverted demand away from the resale market towards the BTO market. Additionally, the seasonal year-end school holidays may have also contributed to the slowdown in sales activity.

However, Wong Siew Ying, head of research and content at PropNex, believes that the slower pace of growth in the fourth quarter of 2024 can also be attributed to the government’s intervention in August 2024, when the loan-to-value (LTV) limit for HDB loans was reduced by five percentage points to 75%. She believes that the August 2024 measures are likely to be working through the market, and the thinner resale volume during the quarter may have also put a drag on prices.

In 2024, there were a total of 28,876 resale transactions, which was 8% higher than the 26,735 units recorded in 2023 and the 27,896 units in 2022. However, it is still lower than the peak of 31,017 units in 2021.

The decrease in resale transactions in the fourth quarter of 2024 also led to a decrease in million-dollar flat transactions, from 331 units in the third quarter to 283 units in the fourth quarter. However, this still resulted in a record high of 1,033 million-dollar transactions in 2024, more than double the 469 transactions in the previous year.

Toa Payoh town led the million-dollar resale flat deals in the fourth quarter of 2024, with 58 transactions. 20 of these transactions were for four- and five-room units at Alkaff Vista in Bidadari Park Drive, which had recently crossed the five-year minimum occupation period (MOP).

Eugene Lim, key executive officer of ERA Singapore, believes that the new classification of Plus and Prime classification BTO flats may have driven more homebuyers to seek out HDB resale homes in central locations. These buyers may be unwilling to compromise on the resale restrictions such as a 10-year MOP, rental restrictions after MOP, subsidy clawback upon resale and resale income cap on future buyers.

Sun predicts that HDB resale prices will continue to rise in 2025, but at a slower rate than in previous years. She also notes that in many areas, prices have already reached new highs, creating affordability concerns for potential buyers. The ongoing supply of BTO flats is expected to help moderate price growth in the secondary market, but the degree of price stabilisation will depend on the number of BTO flats released in the upcoming years.

In February 2025, HDB will launch its largest sale of balance flats (SBF) exercise, offering over 5,500 flats in various towns. Some prospective resale flat buyers may decide to wait it out and try their luck in the SBF exercise. Interest rates may also go lower in 2025, allowing buyers to take on a larger loan amount to purchase a new home. This may lead some buyers to set their sights on executive condos (EC) or resale condos, which could affect the stabilization of the million-dollar flat market.

According to Huttons’ projections, there may be 26,000 to 28,000 resale flat transactions by the end of 2025, with prices expected to grow at a slower pace of 5% to 8%. ERA predicts a 3% to 6% price growth, with 26,000 to 27,000 resale units changing hands by the end of 2025. PropNex expects prices to rise by 5% to 7%, with a resale volume forecast of 29,000 to 30,000 units. Ultimately, the supply of BTO flats in 2025 is expected to be reduced, leading to buyers turning to the resale market, which may keep prices firm.…

Roxy-Pacific Holdings, a leading property developer, will be revealing their latest project, Bagnall Haus, on Saturday, Jan 4. This 113-unit development, located along Upper East Coast Road, is a freehold project that was acquired by Roxy-Pacific in February 2023 for $115.28 million. With a land rate of $1,106 psf ppr, the former Bagnall Court will now be transformed into a modern and stylish low-rise, five-storey block, boasting 113 residential units and two shop units.

The units in Bagnall Haus are designed to cater to various needs, ranging from one-bedroom plus flexi apartments starting at 495 sq ft to spacious five-bedroom units of 1,528 sq ft. Prices for a one-bedroom plus flexi unit start from $1.235 million ($2,495 psf). According to Teo Hong Lim, executive chairman of Roxy-Pacific Holdings, the average indicative price for this development will be $2,450 psf. The official launch date for Bagnall Haus will be announced after the preview weekend.

Future residents of Bagnall Haus will enjoy convenient access to transportation as it is less than a five-minute walk to the upcoming Sungei Bedok MRT Interchange Station for the Thomson-East Coast (TEL) and Downtown (DTL) lines, slated for completion in 2028. The project is also a short walk to the Upper East Coast Bus Terminal. Additionally, the upcoming Bayshore precinct, located just across the road, will house a mix of commercial and residential developments, providing more amenities for the residents of Bagnall Haus, as highlighted by Roxy-Pacific’s Teo.

The last private condo launched in the Upper East Coast area of District 16 was the 75-unit, freehold boutique apartment project, Eastwood Regency by Fragrance Group, in 2010. The neighbouring 160-unit, freehold Country Park Condo by UOL Group was launched for sale in 1999. Another neighbouring development is the 99-year leasehold mixed-use Eastwood Centre, built in 1996 by Ho Bee Land. These developments, along with Bagnall Haus, provide a range of properties for buyers and investors to choose from in this sought-after location.

Residents of Bagnall Haus will also have easy access to various amenities in the vicinity. The upcoming Bedok Food Court and the Eastwood Centre, with a Cold Storage supermarket, medical clinic, dentist, nail and beauty spa, and a pet shop, are just some examples. For families with school-going children, there are several schools in the area such as Temasek Primary and Secondary School, Bedok Green Primary School, and Anglican High School.

Investing in a condo comes with its own advantages, one of them being the opportunity to leverage its value for further investments. It’s common for investors to use their condos as collateral to secure extra funding for new investments, which ultimately helps in expanding their real estate portfolio. However, it’s important to keep in mind that this strategy can bring higher returns but also carries certain risks. Therefore, it’s crucial to have a well-thought-out financial plan in place and consider the potential impact of market fluctuations on your Condo investment.

To stay updated on the latest developments in Bagnall Haus, you can check out the available listings on the market, or ask Buddy, your personal real estate assistant for more information. You can also compare prices trends of HDB, condo, and landed properties in the area to make an informed decision. With the launch of Bagnall Haus, there are now a total of __ units available for buyers and investors.…

When it comes to investing in real estate, location is a crucial factor to consider, especially in Singapore. The value of condos in prime locations, such as central areas or those near important amenities like schools, shopping malls, and public transportation hubs, tends to appreciate significantly. In Singapore, areas like Orchard Road, Marina Bay, and the Central Business District (CBD) have consistently shown growth in property values. This makes them popular choices for property investment. Additionally, condos in these areas are highly sought after by families due to their proximity to good schools and educational institutions, further increasing their investment potential. Consider investing in a Singapore Condo for a prime location and strong investment potential.

On 3rd January, City Developments Limited (CDL), Frasers Property and Sekisui House will be giving a sneak peek of their upcoming project, The Orie. The official launch of this private condominium will take place on 18th January. Situated at the intersection of Lorong 1 Toa Payoh and Lorong 4 Toa Payoh, The Orie boasts 777 residential units spread across two 40-storey towers. The unit types vary from one-bedroom plus study apartments starting from 517 square feet to five-bedroom apartments spanning 1,453 square feet. Prices of the units are as follows: one-bedroom plus study units at $1.28 million ($2,476 psf), two-bedroom units at $1.48 million ($2,500 psf), three-bedroom units at $2.09 million ($2,459 psf), four-bedroom units at $2.92 million ($2,401 psf), and five-bedroom units with exclusive private lifts at $3.48 million ($2,395 psf).Those looking for other newly launched developments and information on transaction prices and units available can conduct a search through EdgeProp’s New Launches.The Orie is the first private condo launch since 2016, when the 578-unit Gem Residences was launched and completed in 2020. The three major developers have teamed up and submitted the highest bid for a Government Land Sales (GLS) site at Lorong 1 Toa Payoh. Their joint bid of $968 million translates to a land rate of $1,360 psf per plot ratio (ppr) for the site. The CDL-Frasers Property-Sekisui House joint venture will split the project 50:25:25 respectively.”We are thrilled to start off the New Year by launching The Orie, the first private residential project in Toa Payoh in more than eight years,” says Sherman Kwek, CDL’s group CEO. “Located in the bustling and highly sought-after Toa Payoh neighbourhood, buyers will enjoy its central locale and excellent connectivity.”The Orie is conveniently located a mere five-minute walk from Braddell MRT Station on the North-South Line (NSL). For those looking to move around by car, the condominium is near the Toa Payoh Integrated Transport Hub, which directly connects to the Toa Payoh Bus Interchange and the MRT station. The new 12-hectare integrated development and community hub is expected to be completed by 2030. The hub will feature a sports centre with swimming pools, indoor sports halls, and other sports facilities, a football stadium, a polyclinic, and a public library.The Orie, with 777 units, is the first private condo project to be launched in Toa Payoh in over eight years (Photo: EdgeProp Landlens)The area offers an abundance of other amenities, including the Toa Payoh Town Centre, HDB Hub, SAFRA Toa Payoh, Junction 8 shopping mall, and MacRitchie Reservoir. Families with school-age children will find many options in the vicinity too, including Pei Chun Public School, CHIJ (Toa Payoh) Primary and Secondary Schools, and First Toa Payoh Primary School.You may also want to check: ANALYSIS: HDB towns with the highest number of million-dollar dealsAdvertisementAdvertisementHealthcare facilities in the nearby area of The Orie are aplenty, ranging from Toa Payoh Polyclinic, Tan Tock Seng Hospital, Mount Alvernia Hospital, Mount Elizabeth Novena Hospital to Thomson Medical Centre.Situated within District 12 in the city fringe, also classified as the Rest of Central Region (RCR), The Orie offers easy access to both the Central Business District (CBD) and the Orchard Road shopping belt. Soon Su Lin, CEO of Frasers Property Singapore, says that the development is also highly energy efficient, boasting over 40 condominium facilities and apartments with smart and functional layouts. Furthermore, the units will be fitted with quality fixtures and fittings from well-known premium brands such as Hansgrohe, Duravit, De Dietrich, and Samsung.The Orie marks the first collaboration between Japanese developer Sekisui House and CDL. Takehisa Yanagi, managing officer and head of international development department at Sekisui House, shares that the two companies have worked together on projects in Singapore for the past 13 years.Tracking Back: Latest transactions at Gem ResidencesThe 578-unit Gem Residences at Lorong 5 Toa Payoh was launched in 2016 and completed in 2020 (Photo: EdgeProp Buddy)Browse available listings of The Orie propertiesAsk BuddyProject summary for The Orie condoCompare price trend of New sale condo vs Resale condoRecently launched projectsProjects that obtained TOP recentlyBrowse district 12 condosProject summary for The Orie condoCompare price trend of New sale condo vs Resale condoRecently launched projectsProjects that obtained TOP recentlyBrowse district 12 condos

The 777-unit The Orie is set to be launched on 18th January, with City Developments Limited (CDL), Frasers Property and Sekisui House giving a sneak peek on 3rd January.This private condo occupies the intersection of Lorong 1 Toa Payoh and Lorong 4 Toa Payoh. The 777 units are in two 40-storey blocks. The various units range from one-bedroom plus study units of 517 sq ft to 5-bedroom apartments of 1,453 sq ft. The prices are:$1.28 million ($2,476 psf) for 517 sq ft one-bedroom plus study;$1.48 million ($2,500 psf) for 592 sq ft two-bedroom;$2.09 million ($2,459 psf) for 850 sq ft three-bedroom;$2.92 million ($2,401 psf) for 1,216 sq ft four-bedroom; and$3.48 million ($2,395 psf) for 1,453 sq ft five-bedroom with an exclusive private lift.Visit EdgeProp’s New Launches to see the current New Launches and pricing informationAdvertisementAdvertisementThe Orie is the new condominium launched since 2016 when the 578-unit Gem Residences was launched, and construction completed in 2020.The three real estate companies offered the highest bid for a Lorong 1 Toa Payoh government land sales (GLS) site. Their joint bid of $968 million equates to $1,360 psf per plot ratio (ppr). The joint venture involves dividing the project equally into 50:25:25 between CDL, Frasers Property and Sekisui House.”We are excited to be launching The Orie, the first private residential project in Toa Payoh in more than eight years, as we welcome the New Year,” says Sherman Kwek, CDL’s CEO. “Its location in the lively and highly sought-after Toa Payoh area allows homeowners to take advantage of its central location and exceptional connectivity.”The Orie is only a five-minute walk away from Braddell MRT Station on the North-South Line (NSL). The condo is just off the Toa Payoh Integrated Transport Hub, an interlink between Toa Payoh MRT Station and Toa Payoh Bus Interchange. The new and integrated 12-ha development and community hub is scheduled for completion in 2030. It will also have a swimming pool facility, indoor sports halls, football stadium, polyclinic and public library as well as other sports facilities.Other amenities such as Toa Payoh Town Centre, HDB Hub, SAFRA Toa Payoh, Junction 8 shopping mall and MacRitchie Reservoir are all near The Orie.The Orie, which has 777 units, is the first private condo project launched in the area in eight years.- This story was updated in January 3 in view of the initial scheduled date of the property launch was moved forward, with more details of the project ‘s selling prices. (Loh Kok Han, 2019)Browse The Orie propertiesAsk BuddyProject summary for The Orie condo Compare price trend of New sale condo vs Resale condoRecently launched projectsProjects that obtained TOP recentlyBrowse condo listings in District 12Project summary for The Orie condoCompare price trend of New sale condo vs Resale condoRecently launched projectsProjects that obtained TOP recentlyShow me condo listings in District 12

City Developments Limited (CDL), Frasers Property and Sekisui House will unveil the 777-unit The Orie on Jan 3, with its official launch set for Jan 18.The freehold private condo is located at Lorong 1 Toa Payoh, at the junction with Lorong 4 Toa Payoh. The 777 units are split between two 40-storey towers. Units range from one-bedroom plus study from 517 sq ft, to five-bedroom apartments of 1,453 sq ft.Prices start from:$1.28 million ($2,476 psf) for a 517 sq ft one-bedroom plus study;$1.48 million ($2,500 psf) for 592 sq ft two-bedroom;$2.09 million ($2,459 psf) for an 850 sq ft three-bedroom;$2.92 million ($2,401 psf) for a 1,216 sq ft four-bedroom; and$3.48 million ($2,395 psf) for a 1,453 sq ft five-bedroom with an exclusive private lift.Visit our New Launches section to find out the latest New Launch and available units pricesAdvertisementAdvertisementThe Orie is the first new private condo launch…

On January 1, ERA Singapore announced that it will no longer cover the annual Council for Estate Agencies (CEA) license renewal fees for its real estate agents. This gesture, which has been in place for the past seven years, will be discontinued in order for the company to allocate resources towards initiatives that will enhance growth and success for its market-leading salesforce and ultimately benefit consumers.

Despite the ongoing COVID-19 pandemic, ERA has been committed to covering the license renewal fees for its agents. However, this practice will now be coming to an end. In a statement released by ERA, they stated that the decision was made in order to focus on initiatives that will further the success of their agents and benefit consumers. They also mentioned that they will continue to support new agents by covering their renewal fees for the first two years, a common industry practice aimed at helping newcomers establish themselves in the industry.

ERA’s decision to discontinue the renewal fee coverage also addresses the issue of inactive agents shifting between agencies solely to take advantage of the fee coverage. This has led to a modest reduction of around 300 agents, primarily inactive or part-time salespersons with no transactions in the past year, according to the firm.

The cityscape of Singapore is characterized by impressive high-rise buildings and contemporary architecture. These opulent condominiums, strategically situated in prestigious areas, offer a harmonious fusion of sophistication and coziness that attracts both locals and expats alike. With an array of amenities such as swimming pools, fitness centers, and round-the-clock security services, these condos significantly enhance the standard of living and have become a highly coveted choice for both potential tenants and buyers. These facilities not only elevate the quality of life but also prove to be profitable investments, with the potential for high rental yields and appreciation in property value over time.

On the other hand, ERA has managed to attract around 230 new professional agents who have joined the agency on January 1, showcasing its continued appeal to active and aspiring real estate agents. This move also aligns with the CEA’s current review of implementing a minimum transaction requirement for real estate salespersons, emphasizing the importance of active participation and continuous professional development in the industry.

Marcus Chu, CEO of ERA Singapore, states that the decision to reallocate resources towards technology, training, and marketing reaffirms their commitment to empowering their core team of results-driven salespersons to excel and deliver exceptional value to clients. This move will allow them to focus on providing the necessary support and tools for their agents to succeed in the industry.…

When it comes to investing in real estate, the location is a crucial consideration, especially in Singapore. In this context, central areas or those close to important amenities such as schools, shopping centers, and public transportation hubs tend to experience a higher appreciation in value. For instance, prime locations including Orchard Road, Marina Bay, and the Central Business District (CBD) have consistently shown a growth in property values over time. Moreover, the proximity to reputable schools and educational institutions makes condos in these areas even more desirable for families, thus elevating their investment potential. In addition to these, the recent launches of new condos, as seen on New Condo Launches, further add to the opportunities for investing in these prime locations.

The announcement from real estate agency SRI on Jan 1 revealed that 111 agents from KF Property Network (KFPN), including the head Evan Chung, have joined the firm. This accounts for 40.5% of KFPN’s sales force, making SRI the fifth-largest property agency in Singapore with a total of 1,501 agents at the start of 2025. This was achieved through the addition of agents from the four largest agencies – PropNex, ERA, Huttons, and OrangeTee & Tie (OTT). The expansion of their sales force to 1,501 agents is a significant milestone for SRI, which is aiming to reach 2,000 agents by the end of 2025.

SRI was co-founded in 2016 by managing partners Bruce Lye and Benson Koh as a spin-off from SRI5000. Starting with 120 agents operating from a small unit in Tiong Bahru, it has now grown to a sales force of 1,501 agents and has relocated to a larger office space at Great World in 2021. The firm’s CEO, Thomas Tan, has stated that the expansion to 2,000 agents will strengthen SRI’s existing business lines, which include residential, capital markets, industrial, auctions, and international projects. Tan also aims to position SRI as a boutique agency with a focus on the luxury residential market, with a goal to become a thought leader in the industry.

Former KFPN head Evan Chung, who is now a leader at SRI, explains his decision to move to the agency. He highlights the dedication of SRI in equipping its agents with effective tools, comprehensive support, and expert coaching, as well as the open and collaborative culture which makes agents feel supported and able to strive for excellence together. He believes SRI will be a great platform to grow the business and serve clients through various market segments.

After the departure of Chung and other agents, KFPN’s sales force has decreased to 145 agents, resulting in a drop from sixth to eighth largest agency in Singapore. However, Knight Frank Singapore’s CEO, Galven Tan, assures that it is business as usual at KFPN, with plans to appoint a new head to lead the agency and strategically position it for future opportunities.…

In the coming year, three executive condominiums (ECs) are set to be launched, with Sim Lian Group’s Aurelle of Tampines leading the pack. This 760-unit development at Tampines Street 62 is expected to debut in the first quarter of 2025, most likely after the Lunar New Year. Its launch follows the success of the 846-unit Emerald of Katong, which is now over 99% sold.

When it comes to investing in Singapore real estate, it is necessary for foreign investors to familiarize themselves with the regulations and restrictions. While they can easily purchase condos without much limitation, owning landed properties has stricter rules. Moreover, foreign buyers are required to pay an Additional Buyer’s Stamp Duty (ABSD) of 20% for their first property purchase. Despite these expenses, the steady and promising growth of the Singapore property market remains a strong magnet for foreign investments. Additionally, keeping an eye on New Condo Launches can help investors make informed decisions.

Sim Lian Group acquired the land at Tampines Street 62 (Parcel B) for $543.28 million in the October 2023 government land sales (GLS) tender. This translates to a price of $721 per square foot per plot ratio (psf ppr). With construction costs on the rise and the harmonization of gross floor area (GFA) definitions, it is predicted by PropNex CEO Ismail Gafoor that Aurelle of Tampines may set a new price benchmark, potentially surpassing the $1,600 psf mark. This expectation is based on the success of Novo Place EC, which was launched in November and achieved an average price of $1,656 psf.

For more in-depth data on all ECs, including average profits at 5 and 10 years, explore EdgeProp’s comprehensive data.

Aurelle of Tampines, with 760 units, is located at Tampines St 62 (Parcel B), which was acquired by Sim Lian through a government land sale for $543.28 million or $721 psf ppr (Photo: EdgeProp Landlens)

Next to Aurelle of Tampines is Tenet EC, a 618-unit development by a joint venture between Qingjian Realty, Santarli Realty and Heeton Holdings. Since its launch in December 2022, Tenet has sold 617 units at an average price of $1,384 psf, with only one unit remaining as of December 19, 2024.

The site for Tenet, located at Tampines Street 62 (Parcel A), was acquired in August 2021 for $442 million ($659 psf ppr). This was a record high psf ppr price for an EC land plot at the time. Notably, Tenet was launched before the implementation of the GFA harmonization rule, which only applies to GLS sites launched for sale after September 1, 2022.

As of December 19, 2024, only one unit remains unsold at Tenet, with 617 units sold at an average price of $1,384 psf. The 618-unit EC is located at Tampines St 62 (Parcel A), next to Sim Lian’s upcoming 760-unit Aurelle of Tampines (Photo: Samuel Isaac Chua/EdgeProp Singapore)

Confident in the strong demand for homes in Tampines and the surrounding estates, Sim Lian Group acquired another EC site in early November, when it was awarded the Tampines Street 95 GLS site. With a bid of $465 million ($768 psf ppr), Sim Lian secured the site. This has set a new high for EC land prices.

The new EC project at Tampines Street 95 is expected to add 560 new units, further increasing the supply of ECs in the area. Sim Lian Group has a strong track record of developments in the eastern part of the island.

Sim Lian’s bid of $465 million ($768 psf ppr) for the EC site at Tampines St 95 set a new benchmark for land prices per psf ppr for ECs (Photo: EdgeProp Landlens)

Apart from the Emerald of Katong and the upcoming EC projects in Tampines, the group also successfully completed Treasure at Tampines, Singapore’s largest private condominium with 2,203 units, in 2023.

Located at Tampines Street 11, Treasure at Tampines is a redevelopment of the former privatised HUDC estate Tampines Court, which was acquired by Sim Lian through an en bloc purchase of $970 million in 2017.

Read also: Novo Place achieves 88.1% sales as 137 units snapped up in second balloting

Launched in February 2019, the 2,203-unit Treasure at Tampines was completely sold within three years at an average price of $1,356 psf. As of December 19, a total of 468 resales and sub-sales have been recorded. With an average price increase of 25.3% over the launch price, secondary market prices now average $1,699 psf.

Sim Lian Group’s private condominium, the 2,203-unit Treasure at Tampines, was fully sold and completed in phases in 2023 (Photo: Sim Lian Group website)

Second EC launch in Plantation Close, Tengah Town

Another EC project set to launch in 2025 is the 560-unit development in Plantation Close in Tengah Town, developed by a joint venture between Hoi Hup Realty and Sunway Developments. These are the same developers behind Novo Place EC.

At its launch in mid-November, Novo Place sold 57% of its units over the opening weekend. In the second round of balloting for second-timers – buyers who have previously purchased a subsidised new or resale HDB flat – another 137 units were taken up, bringing total sales to 444 units, or 88.1% of the project as at December 16, 2024.

In the second round of balloting for second-timers – buyers who have previously purchased a subsidised new or resale HDB flat – another 137 units were taken up, bringing total sales to 444 units, or 88.1% of the project as at Dec 16, 2024 (Photo: Samuel Isaac Chua/EdgeProp Singapore)

With an average price of $1,656 psf, Novo Place set a new benchmark for EC prices. According to Gafoor, the “slightly elevated average pricing” at Novo Place can be attributed to the fact that 80% of buyers opted for the deferred payment scheme, which carries a 3% premium compared to the normal payment scheme.

Despite the higher benchmark price, Novo Place performed well due to several factors, Gafoor notes. These include the dwindling unsold inventory of EC units and the project’s favorable location. Situated at Plantation Close in Tengah, Novo Place benefits from its proximity to the upcoming Tengah Park MRT and Bukit Batok West MRT Stations on the Jurong Region Line, expected to be completed by 2029.

Based on caveats lodged on URA Realis, some transactions at Novo Place executive condo have crossed the $1,700 psf threshold (Source: EdgeProp Landlens)

Last EC launch in Pasir Ris was in 2013

A third EC project, potentially launching in late 2025, is located at Jalan Loyang Besar in Pasir Ris. This is a joint venture between Qingjian Realty, Forsea Holdings, and ZACD Group, which purchased the site for $557 million ($729 psf ppr) in August 2024. The project is expected to yield 710 units.

Read also: Novo Place hits 88.1% sales as 137 units snapped up in second balloting

The last EC launched in Pasir Ris was Sea Horizon, which debuted in September 2013 at an average price of $800 psf. By 2024, average resale prices for caveats lodged had risen to $1,290 psf, reflecting a 61.25% increase over the past decade. Given that Pasir Ris has not seen a new EC launch in nearly 12 years, pent-up demand is anticipated.

The last EC launched in Pasir Ris was Sea Horizon, which debuted in September 2013 at an average price of $800 psf. By 2024, average resale prices for caveats lodged had risen to $1,290 psf, reflecting a 61.25% increase over the past decade (Photo: Google Maps)

New EC supply to double in 2025

Gafoor notes that the three upcoming EC projects – Aurelle of Tampines, the Plantation Close EC and the Jalan Loyang Besar EC – will collectively add 2,030 units to the market. This represents a doubling of new supply compared to the 1,016 units launched in 2024.

The first EC launched in 2024 was Lumina Grand at the end of January. Located at Bukit Batok West Avenue 5, the 512-unit EC was developed by City Developments (CDL). On its launch weekend, 53% of the units were taken up. As of December 17, 444 units (87%) had been taken up. The average price achieved to date is $1,511 psf.

Launched at the end of January, the 512-unit Lumina Grand was over 87% sold at an average price of $1,511 psf as at Dec 17, 2024 (Picture: CDL)

“ECs, a hybrid of public and private housing, remain highly sought after by first-time homebuyers and HDB upgraders, as they are still more affordable than private new launches,” says Gafoor.

According to PropNex, the median price for new non-landed, 99-year leasehold private homes in the Outside Central Region (OCR) in 202…