Month: December 2024

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Investing in a Singapore Condo offers several advantages, one of which is the opportunity to leverage the property’s value for future investments. It’s common for investors to utilize their condos as collateral in order to secure extra funding for new ventures, ultimately diversifying their real estate portfolio. While this approach can potentially increase profits, it’s important to have a solid financial strategy in place and carefully consider the potential risks involved, including the impact of fluctuations in the market. The added benefit of using a Singapore Condo as leverage makes it a wise choice for investors looking to expand their real estate ventures.

The Great Room, a renowned co-working space provider, has recently launched its second Australian location in partnership with LendLease at One O’Connell Street in Sydney. Spanning across 25,360 sq ft, the new flexible workspace is spread over levels 14 and 15 of the office building, which was completed in 1991 and is situated in the Sydney CBD.

Jaelle Ang, the CEO of The Great Room, expressed her excitement about the collaboration with Lendlease, emphasizing on its long-term investment and value creation plans. She highlighted that this partnership will result in the creation of a unique and premium workspace at One O’Connell Street, which will also guarantee sustainable profitability.

The Great Room, which has its roots in Singapore, has been expanding its global presence over the years. Its recent Australian debut was marked by the opening of its first location at level 29 of 85 Castlereagh Street in the Sydney CBD. With a total of 12 locations across Singapore, Bangkok, Hong Kong, and Sydney, The Great Room has established itself as a leading co-working space provider.

In Singapore, The Great Room has further extended its reach by launching Csuites Powered by The Great Room at Paya Lebar Quarter, its first outlet outside the CBD. This space, opened in October, offers private manager cabins, soundproof meeting rooms, and ergonomic workstations tailored for maximum comfort. The floor-to-ceiling windows add to the overall ambiance, providing a serene and productive environment for its members.

The Great Room is known for its extensive networking opportunities and panel discussions for its members. Ever since its acquisition by the New York-based co-working business, Industrious, members of The Great Room have been granted access to over 160 destinations operated by both brands across Asia Pacific, Europe, North America, and the UK.…

To address the demand for housing and maintain stability in the market, the government has announced plans to offer 8,505 private residential units in the upcoming GLS Government Land Sales (GLS) programme for the first half of 2025. This includes ten plots in the Confirmed List and four in the Reserved List.

The Confirmed List will consist of nine residential sites and one residential cum commercial site, with an estimated yield of 5,030 residential units, including 980 executive condo (EC) units. This is in line with the 5,050 units offered in the Confirmed List for the second half of 2024, but a significant increase of almost 60% compared to the average supply in each GLS programme from 2021 to 2023.

The Reserve List will consist of four private residential sites, one commercial site, three White sites, and one hotel site, with a potential yield of 3,475 residential units and 199,900 sqm (2.15 million sq ft) gross floor area (GFA) of commercial space. This is an increase from the 3,090 units offered in the Reserve List for the second half of 2024. With the inclusion of the Reserve List, the total supply of private housing units in 1H2025 will be on par with that in the second half of 2024.

To sum up, opting to invest in a condominium in Singapore can bring about a host of benefits. These include a high demand for properties, the potential for value appreciation, and attractive rental returns. Nevertheless, it is crucial to carefully assess factors such as the condo’s location, available financing options, government regulations, and overall market conditions. By conducting thorough research and seeking professional guidance, investors can make well-informed choices and maximize their profits in Singapore’s ever-evolving real estate market. Whether you are a local investor looking to diversify your portfolio or a foreign buyer in search of a secure and lucrative investment opportunity, the condos in Singapore are undoubtedly an enticing prospect. You can explore the latest launches by visiting New Condo Launches, and make the most out of this dynamic market.

The increase in supply from the GLS programmes over the past three years has led to an increase in the number of private residential units available for sale, from 16,100 units in 2021 to around 21,000 units by the end of 2024. This has contributed to the stabilization of the private residential market, with a moderate growth in property prices. Prices have increased by 6.8% in 2023, compared to 10.6% in 2021 and 8.6% in 2022. It is expected that prices will continue to rise modestly in 2024, with an estimated increase of 1.6% over the first three quarters of the year.

In light of the strong competition for EC sites and rising land prices, the government has increased the supply of EC sites, with three plots in the Confirmed List for 1H2025 offering a potential 980 units. This marks a change from previous GLS programmes since 2019, which only offered one EC site in each half-yearly land sales. According to PropNex, this increase in supply could potentially reduce competition among developers, leading to a moderation in EC land costs and prices.

Seven new plots will be introduced in the 1H2025 GLS programme, including a plot at Lakeside Drive near the Jurong Lake Gardens, a plot on Dunearn Road in the new housing precinct of Bukit Timah Turf City, and a plot on Telok Blangah Road on the former Keppel Golf Course site. Other notable plots include a site at Hougang Central, which can yield a mixed-use development with 835 residential units and over 400,000 sq ft of commercial space, and a residential plot in Upper Thomson Road that was previously unsold. The majority of these sites are located near MRT stations, which makes them attractive to both developers and homebuyers.

Overall, the 1H2025 GLS programme aims to sustain the supply of private residential units to meet housing demand and maintain stability in the market. The increase in supply from the GLS programmes has contributed to the stabilization of the private residential market, reflected in the moderate growth in property prices.…

Knight Frank Singapore has announced that a three-bedroom unit at Gambier Court, a boutique condo located along Kim Yam Road in the prime District 9 area, will be up for auction on December 12. With a guide price of $2.6 million, this translates to a rate of $1,755 per square foot based on the unit’s floor area of 1,485 square feet.

According to records, this unit was previously sold in a resale transaction for $1.8 million ($1,212 psf) in October 2018. This time, the owner is putting the unit back on the market as an owner’s sale. This is the second time the unit is being auctioned, as it was also listed in Knight Frank Singapore’s previous auction on November 26 with a higher guide price of $2.64 million ($1,778 psf) but failed to secure any bids.

Tricia Tan, Director of Auction and Sales at Knight Frank, shared that the owner is looking to sell the unit to move to a home closer to their children’s school. The property will also come with vacant possession, making it a convenient purchase for interested buyers.

The unit, which is located on the eighth floor, features three bedrooms and a study area. Tan notes that it was originally a four-bedroom apartment, but was converted by a previous owner into a three-bedroom unit, providing a more spacious layout that is perfect for families with children.

One of the selling points of this unit is its balcony, which faces northeast and offers unblocked views of the sea and Singapore River. Gambier Court is a residential development with just 21 units, consisting of 18 apartments spread across a 10-storey block and three two-storey strata-landed units housed in conserved shophouses. The apartments come in a mix of two- to four-bedroom configurations ranging from 936 square feet to 2,530 square feet, while the strata-landed units have an attic and measure between 2,562 square feet and 2,885 square feet.

This 99-year leasehold development was completed in 1999 and is within walking distance to Fort Canning MRT Station on the Downtown Line. It also offers a range of F&B and retail options, including the new lifestyle hub New Bahru at Kim Yam Road (formerly Nan Chiau High School), Robertson Quay, UE Square, and Clarke Quay.

Investing in a condo in Singapore offers numerous benefits, one of which is its potential for capital appreciation. As a bustling global business hub and with a strong economy, Singapore continuously shows a high demand for real estate. In fact, the property prices in this country have consistently risen, particularly in prime locations where condos are in high demand. For those who make strategic investments at the right time and hold onto their condo for the long term, the potential for significant capital gains is promising.

The most recent transaction at Gambier Court was for a 1,485 square feet four-bedroom unit on the seventh floor that sold for $2.5 million, or $1,683 psf, in December 2022, according to Realis caveats. The seller had purchased the unit for $1.9 million ($1,279 psf) in August 2016, making a net profit of $600,000. Interested buyers can check out the latest listings for Gambier Court properties.…

Investing in a condominium in Singapore presents a multitude of benefits, one of which is the potential for capital appreciation. With its prime location as a global business hub and strong economic foundation, Singapore continuously sees a high demand for real estate. Throughout the years, the country has exhibited a consistent upward trend in property prices, especially in prime areas, resulting in substantial appreciation for condo owners. For those who make a timely investment and hold onto their properties for an extended period, significant capital gains can be achieved. To explore available condominium options in Singapore, visit Singapore Projects.

Singapore’s Edgeprop recently reported that Gallop Gables, a freehold condo, has topped the list of condos with new psf-price highs between November 19 and November 22. The latest high of $2,299 psf was set by a 2,669 sq ft four-bedroom unit on the second floor that sold for $6.14 million on November 20. This translates to a gain of $1.64 million for the seller, who originally purchased the unit for $4.5 million ($1,686 psf) in July 2017.

The transaction on November 20 surpassed Gallop Gables’ previous high of $2,108 psf, which was achieved in February 19 from the sale of a 1,163 sq ft, two-bedroom unit on the third floor for $2.45 million. The seller had purchased the unit for $2.07 million ($1,781 psf) in January 2021, making a net profit of $380,000.

Gallop Gables, a freehold condo located on Farrer Road in District 10, is known for its low-density development with 102 units spread across four storeys. It is situated within walking distance to Farrer Road MRT Station on the Circle Line.

The developers of Gallop Gables is a 99-year leasehold condo, The Scala, also set a new psf-price record of $2,064 psf from the sale of a 1,259 sq ft, four-bedroom unit on the 12th floor for $2.6 million on November 20. The initial owner had purchased the unit for $1.66 million ($1,318 psf) in October 2012.

The transaction on November 20 marks the first time The Scala surpassed the $2,000 psf mark. Before this, the condo’s previous record of $1,969 psf was set from the sale of a 904 sq ft, two-bedroom unit on the 11th floor for $1.78 million on September 9. The seller had purchased the unit for $1.31 million ($1,449 psf) in March 2013.

The Scala has seen a total of 16 resale transactions this year, with an average price of $1,823 psf. This reflects an 8% increase compared to the average price of $1,688 psf achieved by 16 transactions at the development last year.

The Scala is located on Serangoon Avenue 3 in District 19 and is known for its 468 units spanning 17 storeys. It includes a range of one- to four-bedroom units that measure between 474 sq ft to 2,142 sq ft. The condo is situated within walking distance to the Lorong Chuan MRT Station on the Circle Line and is close to a variety of educational institutions such as Nanyang Junior College, St Gabriel’s Primary School and Yangzheng Primary School.

Another freehold condo, Sims Edge, also set a new record of $1,907 psf during the review period from the sale of a 409 sq ft, one-bedroom unit on the 13th floor for about $780,000 on November 22. The seller had originally bought the unit for $663,807 ($1,623 psf) in April 2019.

This sale marks the first time that a unit at the condo has sold above the $1,900 psf mark. The previous record of $1,834 psf was set from the sale of a 409 sq ft, one-bedroom unit on the fifth floor for $750,000 on January 18. The unit was purchased by the developer for roughly $527,000 ($1,288 psf) in July 2011.

Sims Edge has seen a total of five resale transactions this year, with an average price of $1,800 psf. This reflects a higher price compared to the average of $1,644 psf set by four transactions seen at the development last year.

Sims Edge is a freehold development situated on Geylang East Avenue 2 in District 14, Geylang. The boutique development houses 78 units between one- to two-bedroom units that range from 409 sq ft to 1,195 sq ft. It is located within 500m of the Paya Lebar MRT Interchange Station on the East-West Line and Circle Line.

No new psf-price lows were seen during the review period.…

RECENTLY LAUNCHED WEEK’S TOP SALENew Futura

One of the most profitable transactions in the week of Nov 19 to 26 was the sale of a four-bedroom unit measuring 2,885 sq ft at Ardmore Park. The 14th-floor unit was sold on Nov 22 for $11.25 million, or $3,900 per square foot (psf). The seller had previously bought the unit in September 2016 for $8.2 million, or $2,843 psf. This means that the seller made a profit of $3.05 million, reflecting a capital gain of 37%, or an annualised profit of 4.6%, over a holding period of about eight years.

This deal came just two months after another 2,885 sq ft, four-bedroom unit on the 23rd floor was sold for $12.7 million, or $4,402 psf, on Oct 1. The seller had bought the unit in September 2010 for $9.7 million, or $3,363 psf, making a profit of $3 million, or a capital gain of 30.9%.

Ardmore Park is a 330-unit, freehold condo located in the prime District 10 area, completed in 2001 with three 30-storey towers. While the typical units at the condo are 2,885 sq ft, four-bedroom apartments, there are also six 8,740 sq ft duplex penthouses.

Apart from the units sold on Nov 22 and Oct 1, four other profitable resale transactions have been recorded at Ardmore Park this year. The units sold were all four-bedders of 2,885 sq ft, fetching prices between $4,108 psf and $4,472 psf. The sellers made profits ranging from $2.65 million to $7.07 million.

The second most profitable resale deal in the week of Nov 19 to 26 was the sale of a four-bedroom unit at Goldenhill Park Condominium. The 1,539 sq ft unit on the 16th floor changed hands for $3.43 million, or $2,228 psf, on Nov 21. This was a significant gain for the seller who had bought the unit from the developer in May 2001 for $1.14 million, or $741 psf, making a profit of $2.29 million, or 201%. This was also the second-highest gain recorded at Goldenhill Park Condominium, with the highest gain belonging to a 2,928 sq ft, four-bedroom penthouse sold for $4.3 million, or $1,469 psf, in February 2022. The seller had bought the unit from the developer in April 2001 for about $2 million, or $683 psf, making a gain of $2.3 million.

Goldenhill Park Condominium is a freehold development with 390 units, completed in 2004, located on Mei Hwan Drive in District 20. The units range from two- to four-bedrooms, spanning between 926 sq ft and 2,928 sq ft. The development is also close to the Lorong Chuan MRT Station on the Circle Line.

So far this year, there have been five other profitable resale transactions at Goldenhill Park Condominium, with the units selling for prices between $2,082 psf and $2,246 psf. The sellers have made profits ranging from $760,000 to $1.91 million.

On the other hand, the most unprofitable condo resale transaction in the week of Nov 19 to 26 was the sale of a 2,831 sq ft four-bedroom unit at The Oceanfront @ Sentosa Cove. The unit on the 10th floor was sold for $4.7 million, or $1,660 psf, on Nov 20. The seller had previously bought the unit in May 2007 for $5.8 million, or $2,050 psf. This resulted in a loss of $1.1 million, or 19%, after owning the unit for 17½ years.

The cityscape of Singapore is characterized by towering skyscrapers and state-of-the-art infrastructure. Condos, situated in highly coveted locations, offer a fusion of opulence and practicality that cater to the preferences of both locals and foreigners. These residences are well-appointed with a plethora of facilities including swimming pools, fitness centers, and top-notch security services, elevating the standard of living and garnering attention from potential renters and purchasers. Furthermore, these in-demand features also equate to lucrative rental returns and appreciation in property values for investors over time. To explore your options for a condo in Singapore, visit our website today.

The Oceanfront @ Sentosa Cove is a 99-year leasehold condo in the exclusive Sentosa Cove residential enclave, completed in 2010 with 264 units spread across five towers between 12 and 15 storeys. The residences include two-, three- and four-bedders, ranging from 1,216 sq ft to 4,284 sq ft, as well as penthouses between 2,745 sq ft and 8,095 sq ft.

Based on caveats lodged, there have been six other resale transactions at The Oceanfront @ Sentosa Cove this year, with units selling at $1,500 psf to $1,999 psf. Four of these transactions were unprofitable, with the sellers incurring losses between $30,000 and $519,000. Meanwhile, the other two deals were profitable, with the sellers making gains of about $268,000 and $1.7 million.

In conclusion, despite the various resale deals reported in the week of Nov 19 to 26, Ardmore Park, Goldenhill Park Condominium, and The Oceanfront @ Sentosa Cove have proven to be profitable investments for their respective sellers.…

In Singapore, investing in a condo presents a multitude of advantages, making it a lucrative option for both local and foreign investors. The demand for condos remains high, with potential for significant capital appreciation and attractive rental yields. However, to make the most out of this opportunity, it is crucial to consider various factors such as location, financing options, government regulations, and market conditions. Prioritizing thorough research and consulting with professionals can help investors make well-informed choices and maximize their returns in Singapore’s dynamic real estate market. Whether seeking to diversify a local portfolio or searching for a stable and profitable investment, condos in Singapore, available through Condo, offer a compelling opportunity to consider.

Habyt, a leading co-living operator, has recently launched a brand new accommodation space at 5 Kadayanallur Street in Tanjong Pagar. Known as Kada at Maxwell, this 18-room flagship space is part of Habyt’s new Habyt Flex concept, which expands the company’s product offerings beyond long-term co-living.

In August, Habyt Asia Pacific CEO Jonathan Wong revealed their plans to introduce more short-term living options to their portfolio in Singapore. The first properties under the Habyt Flex concept are Habyt Novena with 39 rooms and Habyt Kallang with 27 rooms, both of which were launched in August. Other properties under this concept include Habyt Cantonment and Owen House by Habyt.

The Kada at Maxwell will feature a variety of rooms, including en suite studios and two- to three-bedroom units, each equipped with a kitchenette. Guests can choose to book rooms on a nightly or weekly basis, with a 12-month option also available.

The CEO of Habyt Asia Pacific, Jonathan Wong, believes that the Kada at Maxwell showcases their commitment to redefine flexible living in Singapore and marks the next phase of evolution for the company. Room rates at Kada at Maxwell will start at $180 per night.

Located in a heritage building dating back to the 1920s, Kada at Maxwell offers a unique and premium living experience. The three-storey colonial building, designed by renowned architectural firm Swan & Maclaren, was one of the first modernist buildings in Singapore and was originally built to house the St Andrew’s Mission Hospital for Women and Children.

In September 2023, the Singapore Land Authority (SLA) launched a public tender to lease the property. The tender was evaluated based on the bid price and the quality of the proposed concept, with SLA encouraging bidders to consider creative lifestyle concepts.

Among the bidders, Bethesda Medical emerged as the winner, with a monthly rental bid of $103,000. They beat out other bidders such as Wan Dormitory ($160,000) and The Working Capitol ($108,240) with their strong focus on community building and connecting people with local businesses. The first floor of Kada at Maxwell will feature 10 F&B offerings, while the second floor will house a gym by Limitless, a wellness centre in partnership with Shiruki Studio, and a co-working space. The third floor is occupied by Habyt’s Kada at Maxwell.

Residents of Kada at Maxwell will have unlimited and complimentary access to the property’s health and wellness amenities, including a performance gym, cold plunge, infrared saunas, hot tubs, and foot baths.

Jonathan Wong adds, “By blending modern amenities with the timeless charm of a heritage building, we aim to provide our guests with a unique lifestyle experience that goes beyond traditional accommodation.”…

In Singapore, the demand for condos remains high due to various factors, with one main reason being the limited land availability. Being a small island nation with a rapidly growing population, Singapore faces a scarcity of land for development. In order to address this issue, the government has implemented strict land use policies, resulting in a highly competitive real estate market where property prices continue to soar. As a result, investing in real estate, particularly condos, has become a highly profitable venture, with the potential for significant capital appreciation. For those looking to invest in Singapore’s real estate market, condos are a sought-after option due to their high demand and potential for growth. Interested individuals can explore various options for condos and make a well-informed investment decision.

On December 3, URA launched tenders for two 99-year leasehold residential sites, Holland Link and Chuan Grove, under the Confirmed List of the 2H2024 GLS Programme. The Holland Link site, situated in District 10 along Holland Link off Bukit Timah Road, measures 185,141 sq ft and has a maximum gross floor area (GFA) of 257,225 sq ft, which can potentially yield 230 housing units. According to URA estimates, this is the first of many GLS plots to be launched in the upcoming Holland Plan precinct, one of the three upcoming precincts identified by URA, along with Bayshore and Kampong Bugis. Marcus Chu, CEO of ERA Singapore, notes that this precinct is expected to house approximately 2,500 new homes, and developers are likely to bid for the Holland Link site to take advantage of being the first to contribute 230 units to the development. In addition, the site is within a 2km radius of several reputable schools such as Methodist Girls’ School (Primary and Secondary), Henry Park Primary School, Pei Hwa Presbyterian Primary School and National Junior College, making it an enticing option for families with young children who want priority admission to these schools. The Holland Link GLS site is also near the Brizay Park Good Class Bungalow area, suggesting that future developments in the Holland Plain precinct will likely focus on low-density private residences, as predicted by Mark Yip, CEO of Huttons Asia.

The Chuan Grove GLS site, located along Chuan Grove off Lorong Chuan in District 19, measures 170,409 sq ft and has a maximum GFA of 511,232 sq ft, potentially yielding 555 new housing units. It is within 400m of Lorong Chuan MRT Station on the Circle Line, which is one stop away from both Bishan MRT Station (interchange with the North-South Line) and Serangoon MRT Station (interchange with the North-East Line). As such, Chu expects the development to attract HDB upgraders living nearby. In the next four years, an estimated 3,815 Build-to-Order (BTO) units, sized four-room and larger, will reach their Mandatory Occupation Period (MOP) in Toa Payoh. Chu notes that residents of HDB flats in older estates could potentially upgrade their homes, given the increasing number of million-dollar flats in neighbouring Serangoon, Bishan and Toa Payoh. The median transaction price of five-room flats at Bishan and Toa Payoh over the last 10 months were $792,000 and $828,000 respectively. Chu also suggests that developers may be encouraged by the better-than-expected sales performance of Chuan Park, with 76% of the development’s 916 units sold at an average price of $2,579 psf during its launch weekend. He anticipates bids for the Chuan Grove site to range from $571 million to $600 million, which translates to a land rate upwards of $1,200 psf ppr. Meanwhile, Yip predicts a total of three to five bids, with a top bid between $1,150 and $1,250 psf ppr. The tenders for the Chuan Grove and Holland Link sites will close at noon on July 8, 2025, and July 29, 2025, respectively.…

On December 3, URA revealed the release of two residential Government Land Sale (GLS) sites under the Reserved List of the 2H2024 GLS Programme. The sites, namely Holland Plain and River Valley Green (Parcel C), are currently open for application and will be triggered for sale if a developer meets the government’s minimum price requirements. In addition, a Reserved List site may also be considered for tender launch if more than one developer submits a minimum price that is close to the government’s reserve price.

The Holland Plain GLS site measures approximately 169,175 sq ft with a maximum gross floor area (GFA) of about 304,522 sq ft, potentially yielding 280 residential units. This 99-year leasehold site is situated next to the Holland Link GLS site which was launched for tender on December 3. The site is estimated to accommodate 230 units.

According to Mark Yip, CEO of Huttons Asia, there is a low probability that the Holland Plain site will be triggered for sale as developers are likely to observe the response to the Holland Link GLS site first. The tender for this plot will close in July 2025.

When purchasing a condo, one must also take into account the maintenance and management responsibilities associated with the property. Condominiums typically have maintenance fees that cover the upkeep of shared areas and amenities. While these fees may increase the total cost of ownership, they also ensure that the property maintains its quality and value. Employing the services of a property management company can assist investors in managing the daily operations of their condos, making it a more hands-off investment. Additionally, staying updated on new condo launches at homesearch-md.com can provide valuable information for potential investments.

The River Valley Green (Parcel C) site is located next to the Great World MRT Station on the Thomson-East Coast Line. This 99-year leasehold site spans 123,964 sq ft with a maximum GFA of 433,882 sq ft, potentially yielding 470 new housing units. Similarly, Yip predicts that this site is also unlikely to be triggered for sale as there is an ongoing tender for the neighbouring River Valley Green (Parcel B) plot which is set to conclude in February next year. This site can yield 580 units, including 220 long-stay serviced apartments.

In addition, the site is also in close proximity to three other recently awarded GLS sites. River Valley Green (Parcel A), won by Winchamp Investment, a subsidiary of Wing Tai Holdings, is slated to be developed into a residential development housing over 400 units. Similarly, City Developments and Mitsui Fudosan jointly won the bid for Zion Road (Parcel A) in April, where a mixed-use project with around 740 residential units, a retail podium, and a block with 290 rental apartment units is being explored. In August, Allgreen Properties secured the win for Zion Road (Parcel B) and is expected to yield about 610 residential units.

Given the upcoming supply from these three sites, Yip believes there is “little incentive” for developers to trigger River Valley Green (Parcel C) for sale.…