Month: December 2024

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), driven by strong demand from upgraders and supported by a robust HDB resale market, stated Mark Yip, CEO of Huttons Asia. In terms of units sold, three of the top 10 best-selling projects were launched in November.

Topping the list was Emerald of Katong, which sold 99% of its units within just two days from Nov 15–16, making it the top-selling project of 2023. As of Dec 17, only six units remain available in the 846-unit, 99-year leasehold development. Interested buyers can search for the latest New Launches to find out transaction prices and available units.

In second place was Chuan Park, with 696 units (76%) sold in a single day on Nov 10. As of Dec 17, the project has sold 79% of its 916 units. The strong sales were attributed to the limited supply of new private condo launches in the vicinity since The Scala in 2010.

When it comes to real estate investment, location is a crucial factor to consider, and this is especially true in Singapore. The value of condominiums tends to appreciate more if they are situated in central areas or in close proximity to essential amenities such as schools, shopping malls, and public transportation hubs. Prime locations in Singapore, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have shown consistent growth in property values. Families also highly value condos in these areas due to their proximity to good schools and educational institutions, making them a desirable and lucrative investment option. In fact, Singapore Condos in these prime locations are highly sought after by investors, further solidifying their reputation as a wise investment choice.

Ranking third was Lentor Mansion, which achieved a 75% sales rate during its launch weekend in March. Nine months later, the project has sold 92% of its 533 units.

In fourth place was Nava Grove, which saw a take-up rate of 65% during its launch weekend in mid-November. As of Dec 17, the project was almost 70% sold with 552 units.

Norwood Grand took fifth place, with 291 out of its 348 units (84%) sold since its launch in October.

Hillhaven, a 341-unit project that was one of the first to debut in 2024, sold 50 units during its launch in January. Sales have picked up since then, with 259 units (76%) sold as of Dec 17, placing it in sixth place.

Kassia, a freehold project on Flora Drive with 276 units, has sold 180 units (65%) to date, securing seventh place overall.

In eighth place is Lentoria, a 267-unit project located in Lentor Hills Estate. It has seen its sales rise from 19% on the first weekend to 66%, with 177 units sold as of Dec 17.

The 440-unit Sora, situated at Yuan Ching Road in Jurong Lake District, achieved 134 sales (30%) and ranks ninth.

Rounding out the Top 10 is Meyer Blue, a freehold development that sold 131 units (58%) of its 226 units through private sales.

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

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

Similarly, Tembusu Grand, located across the road from Emerald of Katong, also saw a boost in sales due to its proximity to the development. The 638-unit project sold 53% of its units during its launch weekend in April 2023. It moved 204 units this year, with most sold after July when market sentiment improved in 3Q2024. Tembusu Grand is now 91% sold as of Dec 17, driven by the buzz around Emerald of Katong.

Hillock Green, a 474-unit project located in Lentor Hills Estate, also experienced strong sales. It was initially launched in November 2023, with a take-up rate of 27.6% during its first weekend. In 2024, Hillock Green sold 217 units, bringing its cumulative sales to 359 (76%). The project benefited from the launches of both Lentoria and Lentor Mansion in March, which raised interest in the Lentor Hills Estate.

Lastly, Pinetree Hill, a 520-unit project, saw a surge in sales after releasing its second phase of units in September. This year, it sold 208 units, bringing cumulative sales to 374 (72%). Pinetree Hill also benefitted from the launch of Nava Grove in November, which helped drive interest to the residential enclave in District 21.…

Singapore’s built environment is set for major change as we head into 2025. The facilities management (FM) sector will need to adapt to new regulatory standards, rising costs and advancing technology. Three main factors will shape the future of FM and boost its sustainability: mandatory energy improvement programs, the impact of increasing temperatures on energy expenses, and a growing trend towards adaptive reuse in construction.

Climate disclosures and tighter regulations will act as a catalyst for energy efficiency. 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 implement energy-efficient measures. This mandate will apply to commercial, healthcare, institutional, civic, community, and educational buildings with a gross floor area exceeding 5,000 square meters. These buildings are expected to reduce their energy usage intensity by 10% from pre-energy audit levels, a reasonable target that can be achieved through the right strategies.

Asset owners are encouraged to take a long-term view when investing in energy-efficient systems. The energy audits will provide valuable information on energy consumption patterns, identify areas for improvement, and guide asset owners in developing a strategy to reduce operating costs and contribute to a more sustainable built environment. Building owners can also take advantage of grants to help cover the costs of energy efficiency upgrades.

.

Investing in a Singapore Condo has become increasingly popular, with many investors looking towards this type of property. However, before making any investment decisions, it is important to consider the government’s property cooling measures in Singapore. The Singaporean government has implemented various measures over the years to prevent speculative buying and maintain a stable real estate market.

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 this may affect the short-term profitability of condo investments, it also contributes to the long-term stability of the market. By limiting speculation, these measures create a safer investment environment for individuals looking to invest in a Singapore Condo.

Temasek Polytechnic, Singapore’s first smart campus, embarked on a digital transformation in 2021, providing valuable insights into the future of smart and sustainable FM. The campus uses a suite of solutions to digitise operations, such as facility booking, automated repair and maintenance work orders, and crowd management and temperature control measures. This data is monitored and analyzed in a central control center, allowing campus operations teams to make informed decisions to maximize the lifespan of assets, reduce operational costs, and decrease carbon emissions.

Another push for sustainability will come from climate disclosure obligations for all listed and large non-listed companies with revenues of at least $1 billion and total assets of at least $500 million by 2027.

With temperatures predicted to rise in 2025, building owners will need to invest in predictive technology to meet the growing demand for cooling. The use of air conditioning and mechanical ventilation (ACMV) systems is already a major contributor to operational costs, accounting for around 60% of total energy expenses in many buildings. Optimizing these systems is crucial in mitigating rising energy costs, and building owners can achieve this by implementing energy-efficient solutions such as energy recovery systems or thermal energy storage. Additionally, optimizing chiller plant operations to match changing weather conditions can reduce energy waste and costs.

At a city and precinct level, extreme weather events, such as flooding and urban heat, pose a threat to critical infrastructure and can disrupt normal operations. Building owners and city planners can mitigate these risks by leveraging web-based geospatial technology to identify flood-prone areas and heat-exposed spaces. This will enable them to develop a comprehensive operational plan to predict and mitigate the risk of equipment failure and downtime.

The increasing cost of construction is also driving a shift towards adaptive reuse, with a significant increase in redevelopment projects in Singapore over the past five years. To save on costs, Surbana Jurong (SJ) estimates that mechanical and electrical costs have increased by approximately 30% compared to pre-pandemic levels. This trend is pushing the adoption of smart design and engineering practices, including the use of collaborative common data environments to benchmark construction and operational costs.

Adaptive reuse, where existing buildings are transformed for a new purpose, is gaining popularity as a response to rising costs. Digital platforms, such as Podium, allow real estate developers and contractors to access real-time insights into key performance indicators (KPIs) such as time, cost, quality, and safety. By consolidating data from multiple sources, stakeholders can access valuable information throughout the building cycle. This includes data on structural frames, superstructures, and foundations, which can inform whether a building should be redeveloped or reused. By retaining existing structural elements, developers can save on materials, time, and labor.

After construction, Podium can be integrated with other operational platforms to track building performance metrics such as energy usage, waste management, water consumption, indoor air quality, and occupancy trends. This will help drive operational carbon reduction goals. Additionally, by optimizing the efficiency of building systems, such as chiller plants, smart buildings can mitigate the impact of rising costs and extend the lifespan of capital-intensive equipment.

Sensors can be installed to monitor and track the performance of each component in a piece of equipment, allowing for predictive maintenance to reduce downtime and improve overall efficiency. Thermal imaging can also be used to detect abnormal temperatures or heat buildup in the system. With access to detailed data, building owners can make informed decisions about parts that need to be replaced within a specific period, such as retrofitting or replacing entire systems.

In conclusion, as we approach 2025, the FM sector in Singapore will need to adapt to evolving regulations, rising costs, and technological advancements. By embracing digitalization, data analytics, and sustainable practices, the sector can drive sustainability, reduce costs, and ensure long-term operational success.…

In recent years, purchasing a condo in Singapore has become a highly sought-after investment option for both locals and foreigners alike. This is largely due to the country’s strong economy, stable political climate, and exceptional quality of living. With its flourishing real estate market, Singapore presents a plethora of opportunities for investors, with condos standing out as a prime choice for their convenience, amenities, and potential for lucrative returns. In this article, we will delve into the advantages, factors to consider, and necessary steps when investing in a Singapore condo through Singapore Condo.

like The Avenir as coronavirus outbreak prompts investors to look at opportunities edgesingapore.com

In the week of November 29 to December 6, the private condo The Meyerise recorded the highest psf-price among several private condos in Singapore. A three-bedroom unit on the 24th floor measuring 1,270 sq ft was sold for the price of $3.52 million, setting a new price peak of $2,771 psf. The previous record of the project was $2,764 psf, which was set in October last year when a four-bedroom unit on the 28th floor measuring 1,819 sq ft was sold for about $5.03 million. The unit sold on December 6, was only 0.25% higher than the previous record of the project. The Meyerise is a freehold condo that was completed in 2015 and it comprises of 239 units. It is located on Meyer Road within District 15. It has twin 31-storey residential towers, with units ranging between 872 sq ft and 1,313 sq ft for two- and three-bedroom units, 1,819 sq ft and 2,056 sq ft for four-bedroom units, and 5,490 sq ft for a penthouse unit. The Meyerise is within 1km of two MRT stations namely Tanjong Katong MRT Station and Katong Park MRT Station, serving the Thomson-East Coast Line. Several schools are also located within a 2km radius, including Kong Hwa School, Tanjong Katong Primary School, Tanjong Katong Girls’ School, and Tanjong Katong Secondary School. The Imperial, a freehold condo located along Jalan Rumbia in prime District 9 took the second spot among projects that recorded new psf-price highs during the same week. On December 5, a three-bedroom unit on the 14th floor measuring 1,410 sq ft was sold for the price of $3.7 million, achieving a new top price of $2,624 psf. This transaction exceeded the previous record of $2,566 psf for the project by 2.3%. The former record was set in May last year when a three-bedroom unit on the 12th floor measuring 1,356 sq ft was sold for the price of $3.48 million. According to URA caveats, the unit sold on December 5 last changed hands back in September 2004 when it was purchased at a price of $1.3 million, or $925 psf. Therefore, the sellers made a profit of around $2.4 million. In the year to date, The Imperial has recorded six resale transactions at an average price of $2,414 psf. Prior to the transaction on December 5, the unit to last change hands was a four-bedroom unit on the fifth floor measuring 1,905 sq ft, which was sold for the price of $4.6 million on November 28 this year. The Imperial is a freehold condo that was completed in 2006. It has a unit mix that includes two-bedrooms measuring 980 sq ft to 1,012 sq ft, three-bedrooms measuring 1,356 sq ft to 1,991 sq ft, and four-bedrooms measuring 2,034 sq ft to 3,552 sq ft. Sky Vue, a 99-year leasehold condo completed in 2016, took the third place during the same week, hitting a new psf-price of $2,505 psf. A three-bedroom unit on the 33rd floor measuring 1,141 sq ft was sold for the price of $2.86 million on December 2, recording new high psf-price for the project. The previous record of $2,366 psf was set in August when a similar three-bedroom unit on the 14th floor was sold for $2.7 million. According to URA caveats, the unit sold on December 2 was last transacted in September 2020 when it was purchased for the price of $1.86 million, or $1,630 psf. Therefore, the sellers made a profit of about $1 million. Sky Vue is a 694-unit 99-year leasehold condo that is located along Bishan Street 15 in District 20. It has two 37-storey towers with one- to three-bedroom units occupying spaces between 484 sq ft and 1,259 sq ft. The development is within walking distance of Bishan MRT Interchange, which serves the North-South and Circle Lines. It is also located directly across the street from Bishan Bus Interchange and connected to Junction 8 mall located along Bishan Place. The mall offers an assortment of retail and dining outlets. There were no new psf-price lows recorded during the same week.…

The sale of a six-bedroom penthouse at JadeScape, a 99-year leasehold condo on Shunfu Road, was the most profitable condo resale transaction during the week of Dec 3 to Dec 10. According to caveats lodged, the 4,230 sq ft unit on the 23rd floor was sold for $10.15 million ($2,399 psf) on Dec 9. This marks a significant 75% capital gain for the seller, who purchased the unit from the developer in December 2019 for $5.8 million ($1,371 psf). This translates to an annualised profit of 15% for the seller, making it the biggest gain ever made on a unit at JadeScape.

JadeScape, located at the junction of Marymount Road and Shunfu Road in District 20, is a 99-year leasehold condo that was completed in 2022. It boasts 1,206 units spread across seven residential towers, including one- to five-bedroom apartments ranging from 527 sq ft to 2,099 sq ft. The development also features two penthouses measuring 4,230 sq ft each. Conveniently located within walking distance of Marymount MRT Station on the Circle Line, the condo has seen 72 other resale transactions this year, with prices ranging from $1,955 psf to $2,420 psf. Interestingly, all of these deals have been profitable for the sellers, with gains ranging from $55,000 to $1.15 million.

The second most profitable condo resale transaction this week was the sale of a 1,410 sq ft, three-bedroom unit at The Imperial for $3.7 million ($2,624 psf) on Dec 5. According to caveats filed, the seller had purchased the unit from the developer for $1.3 million ($925 psf) in September 2004. This marks a gain of $2.4 million (184%) for the seller, who had held on to the unit for 20 years. The deal is the fifth most profitable resale transaction at The Imperial, with the record gain being a $3.65 million profit made on the sale of a four-bedroom unit measuring 3,918 sq ft for $7.64 million ($1,950 psf) in June 2007. The seller had purchased the unit for $3.99 million ($1,018 psf) in March 2006.

Choosing the right location is a critical aspect to consider when investing in the real estate market, and this is especially true for properties in Singapore. Condominiums located in central areas or in close proximity to important amenities such as schools, shopping malls, and public transportation hubs have a higher potential for appreciation. Prime locations in Singapore, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown positive growth in property values. In addition, the availability of reputable schools and educational institutions near these areas makes condos a highly sought-after choice for families, further increasing their investment value. For more information on new condo launches, please visit homesearch-md.com.

The Imperial, located on Jalan Rumbia in District 9, is a freehold condo that was completed in 2006. It features 187 units spread across five blocks, including two-, three- and four-bedroom units ranging from 980 sq ft to 3,918 sq ft. The development is well-connected, with Fort Canning MRT Station on the Downtown Line as well as Dhoby Ghaut MRT Interchange, which serves the North-South, North-East and Circle Lines, both within walking distance.

On the other hand, the sale of a one-bedroom unit at The Montana was the least profitable condo resale deal this week. The 635 sq ft unit was sold for $1.02 million ($1,603 psf) on Dec 6. According to available caveats, the unit had been last sold for $1.18 million ($1,863 psf) in July 2014. This translates to a loss of approximately $165,000 for the seller. This deal marks the third-biggest loss made on a unit at The Montana, with the biggest loss being from the sale of a three-bedroom unit measuring 1,109 sq ft for $1 million ($902 psf) in May 2003. The seller had purchased the unit from the developer in December 1999 for $1.35 million ($1,215 psf), resulting in a loss of about $347,000.

Located on Jalan Mutiara in District 10, The Montana is a freehold condo that was completed in 2002. It features 108 units housed in a single 12-storey tower, including one- to four-bedroom units ranging from 549 sq ft to 2,659 sq ft. There have been four other resale transactions at The Montana this year, all of which have been profitable for the sellers. These units, sold for between $1,930 psf to $2,371 psf, made gains ranging from $80,000 to around $525,000.…

CapitaLand Ascendas REIT (CLAR) has announced that it intends to purchase the DHL Indianapolis Logistics Center, a high-quality Class A logistics property, from Exel Inc. d/b/a DHL Supply Chain (DHL USA) for a total of $150.3 million. This proposed acquisition represents a 4.1% discount to the independent market valuation of the property as of January 1, 2025. After factoring in transaction-related fees and expenses of $1.7 million, as well as a $1.5 million acquisition fee to the manager, the total cost of acquisition will be $153.4 million.

According to a press release issued on December 17, the manager plans to finance the total cost of acquisition through a combination of internal resources, divestment proceeds, and/or existing debt facilities. Upon completion of the acquisition, DHL USA will sign a long-term lease until December 2035 for the entire gross floor area of the property, with options to renew for two additional five-year terms. The long lease term of approximately 11 years, with a built-in rent escalation of 3.5% per annum, will provide income stability and strengthen the resilience of CLAR’s portfolio.

Currently fully occupied, the property 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. The first-year net property income (NPI) yield of the proposed acquisition is approximately 7.6% pre-transaction costs and 7.4% post-transaction costs. The pro forma impact on the distribution per unit (DPU) for the financial year ended December 31, 2023 is expected to be an improvement of approximately 0.019 Singapore cents, or a DPU accretion of 0.1%, assuming the proposed acquisition is completed on January 1, 2023.

The property, which was completed in 2022, is situated in Whiteland, a submarket of southeast Indianapolis, Indiana. It is a fully air-conditioned, single-storey logistics building with a gross floor area of 979,649 square feet. Through 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. This will also expand CLAR’s logistics footprint in the US to 20 properties across four cities, with a total gross floor area of about 5.1 million square feet.

As an international investor, it is crucial to have a thorough understanding of the regulations and limitations governing property ownership in Singapore. While foreign individuals are typically permitted to buy condominiums with relative ease, the same cannot be said for landed properties, which have more stringent ownership guidelines. Nevertheless, foreign purchasers must adhere to the Additional Buyer’s Stamp Duty (ABSD) of 20% for their initial property acquisition. Despite this extra expense, the unwavering stability and promising growth potential of the Singapore real estate market continue to entice foreign investments, making Singapore condos a desirable option.

Apart from this latest property in Indianapolis, CLAR’s logistics assets in the US are located in Kansas City, Chicago, and Charleston. William Tay, executive director and CEO of the manager, stated, “DHL Indianapolis Logistics Center is a strategic fit with our existing portfolio… This will be CLAR’s first sale and leaseback acquisition in the US, and will bring the proportion of modern logistics assets in our US portfolio to 42.3%. With a long lease in place, this property will further enhance CLAR’s resilient income stream, and we anticipate that the two new properties will contribute positively to our long-term returns.”…

Wee Hur Holdings has recently made an important business decision, as they have entered into a binding agreement with Greystar to sell their portfolio of seven purpose-built student accommodation (PBSA) assets. This announcement was made in a press release on December 16.

The PBSA portfolio, which consists of more than 5,500 beds in various cities across Australia, has been sold for a purchase consideration of A$1.6 billion ($1.4 billion). Even after the transaction, Wee Hur will still retain a 13% stake through its subsidiary, Wee Hur (Australia).

In addition, the group plans to allocate the net proceeds from the sale, which is estimated to be around $320 million, towards their strategic growth initiatives, reinvesting in their core business, and expanding into new areas such as alternative investments.

The deal is expected to be completed within the next six months, subject to Greystar obtaining approval from the Foreign Investment Review Board (FIRB) and Wee Hur obtaining consent from its shareholders.

According to Wee Hur, this transaction is a testament to their resilience in navigating complex market conditions, including the challenges posed by the COVID-19 pandemic and greenfield developments. It also aligns with their long-term strategy of diversifying their portfolio and positioning themselves for sustainable growth in various sectors.

When contemplating investing in a Singapore Condo, it is crucial to also evaluate its potential as a rental property. This is known as rental yield, which is the annual rental income in relation to the property’s purchase price. In Singapore, the rental yield for Singapore Condos can vary greatly depending on factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, offer a higher rental yield. To get a better understanding of the rental potential of a specific Singapore Condo, conducting thorough market research and seeking advice from real estate agents can be valuable.

CEO of Wee Hur Capital, Goh Wee Ping, states that this decision to sell their PBSA portfolio comes after their successful recapitalization with RECO in 2021/2022. As the PBSA market rebounds and their portfolio nears full stabilization, they saw this as an opportunity to unlock maximum value for their stakeholders through this significant transaction.…

The joint venture developers Hoi Hup Realty and Sunway Developments successfully sold 137 units at Novo Place executive condominium (EC) during the second round of balloting on Dec 16. This phase was open to second-timers, or buyers who have previously purchased a subsidized flat, whether as a new or resale HDB flat or an EC.

Investing in a condo has numerous advantages, one of which is the opportunity to leverage the property’s value for further investments. A lot of investors opt to use their condos as collateral to secure additional financing for new investments, ultimately growing their real estate portfolio. This approach can magnify returns, but it’s vital to have a solid financial plan in place and carefully consider the potential impact of market fluctuations. Including a Singapore Condo in your investment portfolio can potentially open up new doors for growth and financial success.

According to Mark Yip, CEO of Huttons Asia, this brings the total sold at Novo Place to 444 units, which represents 88.1% of the development. Yip also notes that the project achieved this milestone within just a month of its launch on Nov 16, making it the best-selling EC project of 2024.

“This reflects a strong interest from second-timers who are looking to upgrade their lifestyle. Many of the buyers are also residents in the West,” Yip adds.

Novo Place, located at Plantation Close in the new Tengah town, is a five-minute walk from Tengah Park MRT station on the Jurong Region Line (JRL). The JRL 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.

Huttons also highlights that all four-bedroom units at Novo Place have been sold out, highlighting the high demand for spacious homes.

According to Yip, many buyers also chose the deferred payment scheme, which allows them to secure their desired unit first while deferring their home loan payments. “This helps ease the financial burden for HDB upgraders who still have an outstanding loan on their current flat,” he explains.

He also notes that ECs are experiencing strong demand from HDB upgraders due to their comparable quality and finishes to private condominiums but at a more affordable price. In addition, buyers also enjoy upfront remission on the Additional Buyer’s Stamp Duty (ABSD).

As of Dec 16, caveats lodged indicate that the average price of units sold at Novo Place is $1,656 psf. Interested buyers can explore comprehensive data about all ECs, including the average profit at 5 and 10 years, and check out the latest listings for Novo Place properties on Edgeprop Singapore.

For those looking specifically in District 24, they can also ask Buddy for more details on the project, including the available units left and upcoming new launch projects in the area.…

According to URA data released on December 16, a total of 2,557 new private homes were sold in November, excluding executive condominiums (ECs). This represents a significant jump of 246.5% from the 738 units sold in October and a 226% increase compared to November 2023 sales.

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

The spike in developer sales for November can be attributed to an “unprecedented” number of new project launches, according to Lee Sze Teck, senior director of data analytics at Huttons Asia. In total, five private residential projects were launched during the month, including the 916-unit Chuan Park, the 846-unit Emerald of Katong, the 552-unit Nava Grove, the 367-unit The Collective at One Sophia, and the 366-unit Union Square Residences. This brings the total number of new homes launched to 2,871 units, which is a 438% increase from the previous month and a 196% jump compared to the same period last year.

In addition, the 504-unit Novo Place EC also started sales in November, bringing the total number of new home sales to 2,891 units when including ECs. This represents a 277% jump from the previous month and a 226% increase compared to the same period last year.

As of November, an estimated 6,344 units have been sold by developers, slightly higher than the 6,317 units sold in the first 11 months of 2023. This is on the back of 6,627 units launched for sale by developers during the same period. In comparison, there were 7,515 units launched during the same period last year.

Top-selling projects for November include Emerald of Katong, which sold 840 units (99%) at a median price of $2,627 psf, followed by Kingsford Group’s Chuan Park which sold 721 units (79%) at a median price of $2,586 psf, and Nava Grove which sold 382 units (69%) at a median price of $2,445 psf. According to Sun, buyers were drawn to the excellent design and location of these projects, particularly those looking to live near the East Coast. The lower interest rates also likely incentivized buyers to invest in these projects.

The bustling city of Singapore is known for its towering skyscrapers and advanced infrastructure. One of its main features is the abundance of condos, strategically situated in prime locations, offering a perfect balance of opulence and convenience to both locals and foreigners. These lavish residences boast an array of luxurious amenities including swimming pools, fitness centers, and top-notch security services, elevating the overall standard of living and making them a desirable choice for potential renters and buyers. From an investment standpoint, these attractive features can result in promising rental returns and steady appreciation of property values over time. Check out the latest Singapore projects for more luxurious condo options.

Looking ahead, Huttons’ Lee predicts a more muted December due to the school holidays and festive season, with new private home sales expected to fall to around 200 to 250 units. This would bring full-year developer sales to approximately 6,500 units, slightly higher than in 2023. He also expects price growth to moderate to around 5%, compared to the 6.8% growth registered in 2023.

Moving into 2025, SRI’s Sandrasegeran believes new home sales will regain momentum with the launch of The Orie by City Developments in January. Other anticipated launches in the first quarter of 2025 include Bagnall Haus, Aurea, and Aurelle of Tampines EC. However, OrangeTee’s Sun believes the recent surge in sales is temporary and that new home demand has been subdued throughout 2024 due to the lack of significant private project launches. She is cautiously optimistic for a better performance in the new sales market in 2025 with a projected rebound of 7,000 to 8,000 units sold and a price growth of 4% to 7%.…

Hilton, a leading global hospitality company, has recently announced the opening of its 100th Hilton Garden Inn in Greater China, the Hilton Garden Inn Beihai Jiafu. This new property, located in the coastal city of Beihai, marks a major milestone for the brand in the region. With 199 well-appointed rooms, the hotel is conveniently situated just 2km away from the Beihai High-Speed Railway Station and 6km from Beihai Fucheng Airport. Guests can also easily access the Beihai International Passenger Port, which is only a 20-minute drive away.

In a press release on December 13, Qian Jin, Hilton’s president for Greater China and Mongolia, expressed the company’s excitement at the opening of the Beihai Jiafu Hilton Garden Inn. “This expansion not only reflects the rapid growth of our brand, but also reaffirms our long-term commitment to the Chinese market,” he said.

Overall, there are countless benefits to be gained from investing in a condominium in Singapore. The city-state’s real estate market is highly sought after, with a strong potential for capital appreciation and attractive rental yields. Nevertheless, it is crucial to carefully consider crucial factors such as location, financing options, government regulations, and current market conditions before making any investment decisions. By conducting thorough research and seeking professional advice, investors can ensure that their investments in Singapore will generate maximum returns. Whether you are a local investor looking to diversify your portfolio or a foreign buyer seeking a stable and lucrative investment, Singapore’s condo market offers a compelling opportunity. To explore the latest developments and projects in Singapore, check out Singapore Projects and make an informed choice about your next investment.

Hilton first introduced its Hilton Garden Inn brand to China in 2014 with the opening of a property in Shenzhen. Since then, it has expanded to major cities including Shanghai, Beijing, Chengdu, Guilin, and Aksu. The company plans to open more Hilton Garden Inn properties in China by 2025, with upcoming debuts in popular tourist destinations such as Zhangjiajie, Ordos, Huangshan, Shanwei, and Jinan.

Apart from these new additions, Hilton is also preparing to launch its new Hilton Garden Inn Gen A properties in Greater China. These regional prototypes are specifically designed for the travel needs of Generation Alpha, the next generation of travellers. In June, Hilton announced the launch of this new concept, with plans for initial locations in Nanjing, Chengdu, Chengde, and Jinan.

This expansion is part of Hilton’s wider growth strategy for the Asia Pacific region. Clarence Tan, senior vice president of development for Asia Pacific at Hilton, shares that they currently have over 200 Hilton Garden Inn properties in development across the region. With its continuous growth and commitment, Hilton Garden Inn is poised to cater to the evolving needs of travellers in Greater China and the wider Asia Pacific region.…

Acquiring a condo in Singapore has emerged as a favored option for both local and international investors, driven by the country’s thriving economy, stable political climate, and exceptional quality of life. In fact, Singapore’s real estate sector presents an array of promising prospects, with condos particularly standing out for their convenience, amenities, and potential for lucrative returns. With that in mind, this piece delves into the advantages, factors to mull over, and necessary measures when delving into investing in a condo in Singapore, specifically the various Singapore Projects available.

CapitaLand Investment Limited (CLI) is expanding its presence in Australia by acquiring Wingate Group Holdings’ property and corporate credit investment management business for A$200 million ($173 million) plus an earn-out. Upon completion of this acquisition, CLI’s total funds under management (FUM) in Australia will increase by 30%, reaching A$8.3 billion, which accounts for approximately 7% of the company’s total FUM of $115 billion. CLI has set a goal to reach $200 billion in FUM by 2028 and is committed to investing up to A$1 billion in growing its FUM in Australia. This focus on Australia marks a shift in direction for CLI, as the previous board and management had divested its key assets in the country a decade ago to focus on the then-faster-growing China and other overseas markets.

Following CLI’s investor day, the Australian press reported on the company’s acquisition of Wingate, confirming previous rumors from last month. Wingate is a prominent and large private credit investment manager in Australia, with a track record of over 350 transactions worth more than A$20 billion. CLI is already familiar with Wingate, having announced the A$265 million Australia Credit Program in September in partnership with Wingate.

CLI sees Wingate as a valuable addition to its portfolio, as it will provide access to a wide range of institutional and high-net-worth investors and expand its deal origination network. CLI’s Group CFO, Paul Tham, says that while Australia is a key focus market for the company, there are also opportunities for scalable private credit in other Asia Pacific markets, particularly South Korea, India, and Japan. In April, the Australian private capital market grew by 33% in the last 18 months, with AUM reaching A$139 billion. A funding gap of A$146 billion for commercial mortgages is forecasted by 2028.

With the acquisition of Wingate, CLI will further diversify its portfolio, which currently comprises logistics, business parks, office, and lodging assets across nine cities in Australia. As of September, the company managed 34 logistics properties, four Grade A office buildings, and over 13,500 lodging units through its wholly-owned lodging business unit, The Ascott. CLI is also expanding its presence in Australia through other deals, such as winning the tender for Kallang Way and the recent adaptive reuse of an industrial site.…