Month: February 2025

An exquisite four-bedroom duplex apartment is now available at the freehold luxury condo, 3 Orchard By-The-Park, through an expression of interest exercise (EOI) with a guide price of $15.8 million.

The unit, marketed by Huttons Asia, boasts an impressive size of over 3,800 sq ft, translating to a price of approximately $4,158 psf. With a ceiling height of 4m and a private lift, this unit offers luxury living at its finest. Three of the four bedrooms feature ensuite bathrooms. The unit underwent extensive renovations three years ago, with over $700,000 invested in the revamp, according to Huttons.

Designed by renowned Italian architect Antonia Citterio, 3 Orchard By-The-Park was completed in 2017. Comprising of three 25-storey towers, it offers a total of 77 units. The residence includes two- to four-bedroom units ranging from 1,066 sq ft to 3,800 sq ft, as well as luxurious penthouses measuring 6,555 sq ft to 6,900 sq ft.

Situated on Orchard Boulevard, the development is in close proximity to the bustling Orchard Road shopping belt. It is also surrounded by esteemed educational institutions such as Anglo-Chinese School (Junior), Anglo-Chinese School (Primary), ISS International School (Elementary & Middle School Campus), and Singapore Chinese Girls’ School (Primary). Furthermore, the Orchard Boulevard MRT Station (Thomson-East Coast Line) is conveniently located nearby.

Recent transactions at 3 Orchard By-The-Park show that the property is in high demand, making this unit an excellent investment opportunity. The EOI will close on March 5 at 4pm.

Don’t miss the chance to own this luxury duplex apartment at 3 Orchard By-The-Park. Check out the latest listings for condominium properties in the area and access helpful tools such as price trend charts, rental yield analyses, and a list of the most expensive condominium projects in District 10.

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The scarcity of land has made condos a highly sought-after option in Singapore. As a small island nation with a fast-growing population, Singapore struggles with the limited availability of land for development. As a result, strict land use policies are in place and the real estate market is highly competitive, resulting in continuously rising property prices. This has made real estate investments, especially in condos, a profitable opportunity with the potential for significant capital gains. To explore more options for Singapore condos, check out Singapore Condo.…

The shophouse market in 2024 has remained relatively quiet, with only 84 caveated transactions, according to Huttons Asia. The consultancy’s latest quarterly research report on the shophouse market shows that this number is below the annual average of 200 shophouse deals recorded between 1995 and 2023.

Senior director of data analytics at Huttons Asia, Lee Sze Teck, notes that while many buyers did not lodge a caveat, the number of shophouse deals in 2024 is likely the lowest since 1998. The total value of the 84 caveated transactions was $683.6 million, representing a 38.9% decrease from the $1.1 billion recorded in the previous year.

When it comes to investing in a condo, securing proper financing is crucial. Fortunately, Singapore provides various mortgage choices for potential buyers. However, it is important to note the Total Debt Servicing Ratio (TDSR) framework, which sets a cap on the loan amount that a borrower can obtain based on their income and current debt commitments. To make well-informed financing decisions and prevent over-leveraging, it is crucial to comprehensively understand the TDSR and seek guidance from financial advisors or mortgage brokers. Additionally, checking out New Condo Launches can be beneficial for finding the best financing options available.

However, Lee points out that the un-caveated shophouse transactions in 2024 included several “substantial” deals in prime locations such as Amoy Street, Neil Road, North Bridge Road, and Telok Ayer Street, which he estimates were sold for over $200 million. The largest shophouse deal in 2024 was the sale of The Rail Mall by Paragon REIT for $78.5 million in June. This is now the most expensive shophouse deal on record, surpassing the previous record of $74.8 million for a row of shophouses along Jalan Sultan in March 2022.

The Rail Mall shophouses were valued at $62 million as of December 2023, meaning the seller made an estimated gain of $16.5 million on the sale. Most of the shophouse transactions in 2024 were for smaller quantums, with over half of the caveated deals valued at $5 million to $15 million.

Furthermore, almost half of the shophouse transactions in 2024 took place in District 8, which Lee attributes to its desirable city-fringe location and lower prices compared to Districts 1 and 2. Shophouse rents islandwide also experienced a slight decrease in the fourth quarter of 2024, dropping 2.6% quarter-on-quarter to $6.47 per square foot per month. However, for the whole of 2024, shophouse rents saw an increase of 1.7%.

In conclusion, the shophouse market in 2024 has been relatively quiet, with a low number of transactions and a decrease in rents. However, some substantial deals were still made in prime locations, and District 8 remains a popular choice for buyers due to its attractive location and lower prices.…

CBRE’s Singapore Market Outlook 2025 report, which was released on January 23, suggests that the real estate market may experience disparate outcomes in the next 12 months due to uncertain macroeconomic conditions. While easing inflation and interest rates could provide some relief for the property market, Moray Armstrong, managing director and advisory services at CBRE, warns that the expected economic slowdown could negatively impact property demand. The Ministry of Trade and Industry is projecting GDP growth to be between 1% and 3% in 2025, down from the 4% recorded in 2024.

According to CBRE, several factors could influence the market in the near term, including geopolitical tensions, a new US administration with a nationalistic economic agenda, and the release of the URA Master Plan 2025 in the middle of the year. Despite these uncertainties, opportunities remain for participants who can capitalize on emerging trends, says Armstrong.

Tricia Song, CBRE’s head of research for Singapore and Southeast Asia, shares a similar outlook, noting that limited new supply and stable demand continue to bolster the overall property market. She predicts that the Singapore market will maintain its stability and resilience, making it attractive to global investors.

Developer sales volume surged threefold to 3,511 units in the last quarter, rebounding from record lows in the first nine months of 2024, according to URA data. This prompted speculations of cooling measures, but CBRE believes this is unlikely unless prices rise sharply in the coming quarters. With improved buying sentiment, developers are expected to launch 12,000 to 14,000 new units this year, nearly double the 6,647 launched in 2024. CBRE predicts 7,000 to 8,000 units could be sold in 2025, with prices growing between 3% and 6%, and rental rates increasing between 1% and 3%.

Communal living in a condo offers many benefits, but it’s crucial for investors to also take into account the property’s maintenance and management. Generally, condos have maintenance fees that take care of common areas and amenities. Although this may increase the overall cost of owning a condo, it guarantees that the property is well-maintained and maintains its value. To make condo ownership a more passive investment, hiring a property management company can help with daily management. Keep up with new condo development launches by visiting New Condo Launches.

The office market saw a more muted 2024, with global uncertainties and hybrid work arrangements slowing leasing volumes. Core CBD (Grade A) rents grew by just 0.4% y-o-y last year, compared to 1.7% growth in 2023. With slower economic growth expected in 2025, CBRE forecasts that office leasing momentum will remain muted as uncertainties suppress expansionary demand. However, the limited pipeline of new Core CBD (Grade A) offices over the next three years is expected to keep vacancy rates low. CBRE predicts a 2% rental growth for 2025, in line with GDP projections.

Limited supply is also anticipated to support retail rents. An estimated 0.5 million sq ft of new retail space will be completed in 2025, a 40.4% decrease from 2024 and below the 10-year annual average of 0.91 million sq ft. With positive leasing sentiment and a robust pipeline of events and entertainment, CBRE is projecting a 2% to 3% growth in average retail prime rents, recovering to pre-pandemic levels.

In the industrial sector, expansion demand was subdued in 2024 due to cost pressures and supply chain disruptions from the Red Sea crisis. As a result, prime logistics rents only increased by 1.1% to $1.87 psf/month. However, a bumper supply of almost 5 million sq ft of warehouse space is expected to be completed this year, with at least 60% already committed. This should ease downward pressure on occupancy rates, keeping prime logistics rents relatively flat in 2025.

CBRE anticipates real estate investment volumes in Singapore to continue to grow in 2025, albeit at a slower pace. In 2024, investment volumes increased by 28% y-o-y to $28.62 billion, a reversal from the 30.3% decline in the previous year. Low interest rates have bolstered investor sentiment and appetite, which is expected to continue into 2025. CBRE’s latest Asia Pacific Investor Intentions Survey shows that most investors plan to purchase the same or more in Singapore in 2025 than in 2024.

However, given the ongoing uncertainties, CBRE predicts that investors will be selective, focusing on sectors or strategies with a more favorable outlook. They anticipate a 10% y-o-y growth in investment volumes in 2025, barring any major macroeconomic shocks. According to their survey, the industrial and logistics sector is the most preferred among investors, followed by residential and office properties.…

When considering investing in condos in Singapore, it is important to be aware of the government’s property cooling measures. Throughout the years, the Singaporean government has implemented various measures to prevent speculative buying and maintain a steady real estate market. One of these measures is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and individuals purchasing multiple properties. While these measures may have an impact on the short-term profitability of condo investments, they also contribute to the long-term stability of the market, making it a more secure investment environment. Condo investors should keep these measures in mind when making their investment decisions.

Rewrite:Palm Spring’s three-bedroom unit recently made the most profitable resale transaction from January 14th to 28th. According to lodged caveats, this transaction took place on January 20th, with the unit on the fourth floor being sold for $4.4 million ($2,336 psf). This amount exceeds its purchase price of $1.21 million ($642 psf) back in August 2005, resulting in a profit of $3.19 million (264%) for the seller. This translates to an annualised profit of 6.8% over almost 20 years.This sale also sets a new record at Palm Spring for the most profitable resale transaction, surpassing the previous record of $2.56 million (185%) when a 1,970 sq ft unit on the first floor was sold for $3.94 million ($2,000 psf) in April 2023. The first floor unit was originally bought for $1.38 million ($701 psf) in January 2003.A freehold condominium located on Ewe Boon Road in prime District 10, Palm Spring consists of 167 units and was completed in 1997, making it 28 years old. Its prime location is situated near Stevens MRT Interchange on the Downtown (DTL) and Thomson-East Coast Lines, as well as Newton MRT Interchange on the North-South Line and DTL.Based on a tabulation of resale transactions by EdgeProp Singapore, prices at Palm Spring have been steadily increasing over the last 20 years. In January 2015, the average transacted price was around $1,439 psf, which has since risen to approximately $2,342 psf in the previous month. This reflects a significant increase from the average price of $973 psf in January 2005.Palm Spring also saw two units being sold last year, further affirming its strong resale performance. In September, a 947 sq ft unit was sold for $2.19 million ($2,312 psf), resulting in a profit of $990,000. In October, a 1,496 sq ft unit was also sold for $3.36 million ($2,246 psf), leading to a profit of $2.24 million. This demonstrates the potential for capital gain at this desirable condominium.In a separate transaction, the most profitable resale transaction took place at Orchard Bel Air, with the sale of a four-bedroom unit generating a profit of $3 million (182%) on January 15th. This 3,229 sq ft unit on the 12th floor was sold for $4.65 million ($1,440 psf), surpassing its purchase price of $1.65 million ($511 psf) back in May 2001. This translates to an annualised profit of 4.5% over nearly 24 years.However, the most notable transaction at Orchard Bel Air was the sale of a 6,512 sq ft penthouse unit on the 25th floor in January 2013, which garnered a record profit of $8.3 million ($1,275 psf). This unit was initially purchased for $3.83 million ($588 psf) in March 2006.Located in prime District 10 along Orchard Boulevard, Orchard Bel Air is a 99-year leasehold condominium that was completed in 1984 and has approximately 54 years left on its land tenure. It is situated next to a government land sale (GLS) site on Orchard Boulevard that was awarded to a UOL-SingLand joint venture last February for $428.28 million or a land rate of $1,617 psf per plot ratio. Nearby, the neighbouring Cuscaden Reserve, a 192-unit luxury condominium that was completed in 2023, commands an average price of approximately $3,043 psf as indicated by transaction data.Meanwhile, the most unprofitable transaction during the period in review occurred at Marina Bay Suites, with a loss of $1.15 million (27%) on the sale of a 1,625 sq ft unit on the 58th floor on January 24th. This unit was sold for $3.1 million ($1,907 psf), having previously been purchased for $4.25 million ($2,614 psf) in May 2012. This equates to an annualised loss of 27% over nearly 13 years.This recent transaction at Marina Bay Suites adds to a series of unprofitable deals that have taken place in the past nine months, with 14 consecutive loss-making transactions reported. These losses ranged from $40,000 to $2.5 million. A 99-year leasehold condominium situated within the six towers of the Marina Bay Financial Centre mixed-use development along Central Boulevard and Marina Boulevard, Marina Bay Suites consists of 221 units and a 66-storey residential tower featuring a mix of three- and four-bedroom units.Over the years, the average selling price at Marina Bay Suites has fallen from $2,502 psf in January 2015 to approximately $1,921 psf in January, which is lower than other nearby 99-year leasehold condominiums such as The Sail @ Marina Bay ($2,047 psf), Marina Bay Residences ($2,242 psf), Marina One ($2,103 psf), and V on Shenton ($2,027 psf). This highlights the potential for capital loss at Marina Bay Suites compared to its neighboring developments.…

A three-bedroom unit at Watertown, part of the Waterway Point integrated development in Punggol, is up for auction by SRI on Feb 26. This 1,281 sq ft mortgagee sale unit has a guide price of $2.4 million, equating to approximately $1,874 psf. The same unit was featured in SRI’s January auction with the same guide price, but only received one bid. As the bid did not meet the reserve price, the property was withdrawn from the auction.

This unit, located on the 13th floor, boasts a spacious living and dining area, an open-concept kitchen, a utility room and toilet, and a south-facing balcony overlooking one of the development’s 20 swimming pools. Additionally, it has an ensuite master bedroom, two more bedrooms, and a common bathroom.

Based on URA caveats, the previous owners bought this unit from the developers for around $1.8 million ($1,281 psf) in October 2013. As of Feb 4, Watertown has only recorded one transaction this year – a two-bedroom unit with a size of 958 sq ft that sold for $1.7 million ($1,775 psf) on Jan 19. Last year, the development saw 41 resale transactions, with an average price of $1,700 psf.

According to Eric Liew, manager of auctions and sales at SRI, larger units at Watertown are in higher demand and can command a higher psf price. Out of the 41 resale transactions last year, 10 were for three or more bedroom units. They were sold at an average price of $1,854 psf, about 9% higher than the overall average price for the development.

Liew notes that most of the interest for Watertown comes from HDB upgraders hunting for a good deal, and those planning to use the unit as their primary residence due to its close proximity to Punggol MRT Station.

Purchasing a condo requires careful consideration not only of the property itself, but also of its maintenance and management. This is because condos usually come with maintenance fees, which encompass the upkeep of common areas and facilities. Despite potentially increasing the overall cost of ownership, these fees play a crucial role in preserving the property’s value and keeping it in good condition. For a more hands-off approach, investors can enlist the services of a property management company to handle the day-to-day management of their condos. Singapore Projects can offer a variety of options for those looking to invest in a condo.

Completed in 2017, Watertown is a 992-unit project with 11 residential towers that sit above the six-storey Waterway Point shopping mall. It consists of one- to two-bedroom units from 533 to 1,003 sq ft, and three- and four-bedroom units from 821 to 1,582 sq ft.

Located next to Punggol MRT Station on the North East Line, Waterway Point is also connected to Punggol LRT Station. It was jointly developed by Far East Organisation, Frasers Centrepoint, and Sekisui House. In the Punggol area, there are several primary schools, including Edgefield Primary School, Oasis Primary School, Punggol Green Primary School, Compassvale Primary School, and Punggol Cove Primary School.…

The government announced the extension of the Central Business District Incentive (CBDI) and Strategic Development Incentive (SDI) schemes for another five years. These schemes were originally introduced by the government in November 2019. During the Real Estate Developers’ Association of Singapore (Redas) annual Spring Festival lunch on Feb 7, Desmond Lee, Minister of National Development (MND), shared the latest decision.

The CBDI scheme was implemented to promote the conversion of older office buildings in specific areas of the Central Business District (CBD) into mixed-use developments. These areas include Tanjong Pagar, Robinson Road, and Shenton Way. The aim of the scheme is to increase the number of homes, boost the population living in the CBD, and introduce a diverse range of functions in the traditionally commercial-focused district.

On the other hand, the SDI scheme was launched to encourage the redevelopment of older developments in key areas to bring about transformative changes in the surrounding urban environment. These strategic areas include Orchard Road, the Central Business District, and Marina Centre. Individuals can search for the latest New Launches to find out the transaction prices and available units.

As stated by URA, out of the 17 CBDI proposals submitted to the government, 14 have been granted approval in principle. Additionally, seven out of 12 SDI proposals have also been given the green light. Four CBDI projects in the Anson-Tanjong Pagar area are currently under construction. These projects include Newport Plaza, a mixed-use development on 80 Anson Road, which consists of 246 residential units and 198 serviced apartment units. The Skywaters Residences, which will have 190 luxury residential units as part of a bigger mixed-use development on 8 Shenton Way, is also in progress. Other ongoing projects in the CBD include two commercial developments on 15 Hoe Chiang Road and 51 Anson Road.

However, the five-year extension of the CBDI and SDI schemes will come with improvements to both schemes, according to Minister Lee. The CBDI will now cover commercial developments in Anson and Cecil, and developers and property owners who submit proposals for these areas will have the option to retain their commercial zoning (with 40% non-commercial use) if the redevelopment includes long-stay serviced apartment units.

For applicants seeking to redevelop in Anson and Cecil, URA has set a requirement of at least 200 residential units or dedicating the entire non-commercial floor area to long-stay serviced apartment units, whichever is lower. Previously, office buildings redeveloped under the CBDI were allowed to keep the existing commercial zoning if 40% of the new floor area was reserved for non-commercial use.

CEO of ERA Singapore, Marcus Chu, believes that with the continuous renewal of aging buildings in the city center and the addition of more residential units, these incentives will transform the CBD into a place for work, live, and play. Also, the revamped CBDI and SDI schemes will now include new sustainability criteria. Any new applications under these schemes must include a sustainability statement that assesses the feasibility of retrofitting part or all of the existing building.

Acquiring property in Singapore’s real estate market as a non-resident requires a comprehensive comprehension of the rules and restrictions concerning property ownership. Compared to landed properties, which have stricter eligibility criteria, foreigners can purchase condominiums with relatively less limitations. However, it should be kept in mind that non-Singaporean buyers are subject to the Additional Buyer’s Stamp Duty (ABSD) of 20% for their initial property purchase. Despite this extra expense, the resilient and promising nature of the Singapore real estate market continues to attract foreign investors. For those interested in exploring the market, there are always new condo launches to consider, which present exciting opportunities for investment. In fact, the presence of New Condo Launches makes Singapore’s real estate market even more appealing to foreign buyers.

Minister Lee highlights that while the government supports revitalization and rejuvenation through redevelopment, they do not want wasteful demolition and excessive rebuilding, especially if the buildings are still in good condition. Some projects redeveloped under the CBDI or SDI are already surpassing the mandated sustainability requirements, such as Union Square, a mixed-use development on Havelock Road, which is incorporating a district cooling system. Interested individuals can check out the latest listings for Skywaters Residences properties, ask for buddy projects summary, and upcoming new launch projects. They can also find out about condo sale transactions in District 1 and projects that have obtained TOP recently.…

One key factor to keep in mind when investing in condos in Singapore is the government’s property cooling measures. In an effort to promote a stable real estate market and deter speculative buying, the Singaporean government has implemented various measures over the years. These include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and individuals purchasing multiple properties. While these measures may have a short-term impact on the profitability of condo investments, they also contribute to the long-term stability of the market, creating a safer investment environment. When considering Singapore Projects, it is important to take these cooling measures into account.

Perennial Holdings and Far East Organization have announced their exciting plans for Aurea, a luxury apartment tower that will be part of the Golden Mile Singapore mixed-use development along Beach Road. The Aurea tower, designed by DP Architects, will stand at 45 storeys tall and offer 188 units on a spacious site area of 144,908 sq ft. One of the highlights of this development is the link bridge connecting Aurea to the neighbouring The Golden Mile, a commercial building that includes retail space, medical suites, and offices.

The Golden Mile was formerly known as Golden Mile Complex and is a significant part of Singapore’s architectural heritage. It is also known as the first collective sale and conservation of a building in the country. Back in May 2022, Perennial Holdings and Far East Organization purchased the building en bloc for $700 million, setting the stage for this remarkable development.

Aurea and The Golden Mile’s prime location on Beach Road places them in District 7, a highly coveted area in the Downtown Core and part of the Core Central Region (CCR). Shaw Lay See, Far East Organization’s chief operating officer of the sales and leasing group, expects a significant amount of interest from discerning individuals and families who appreciate the exclusivity of a prime Downtown Core address.

The exclusive preview of Aurea, available by appointment only, will begin on Feb 22, with the official launch set for Mar 8. The apartments are priced from $2,750 psf, with two-bedroom units starting from $1.92 million ($2,972 psf).

The units at Aurea offer a range of sizes and layouts to cater to different preferences. There are 112 two- and three-bedroom units, ranging from 635 sq ft to 1,001 sq ft, and 56 four-bedroom units ranging from 1,442 sq ft to 1,798 sq ft. Additionally, there are 18 five-bedroom units measuring between 2,863 sq ft to 3,251 sq ft. Two exclusive penthouses top off the luxurious offerings, including a six-bedroom duplex spanning 5,608 sq ft and a six-bedroom triplex measuring 8,816 sq ft. The larger four-bedroom units and penthouses will also feature private lift access, with the triplex penthouse boasting a private pool.

These larger units are designed to cater to affluent CCR homebuyers, as noted by Marcus Chu, the CEO of ERA Singapore. On the other hand, the two- and three-bedroom units, making up 60% of the apartments at Aurea, are expected to appeal to both homebuyers and investors, adds Chu.

In addition to its prime location, Aurea also boasts a range of exclusive facilities for residents, including two infinity pools on levels three and 33, a gymnasium, a bouldering wall, spa facilities, an indoor lounge, and multiple dining pavilions for hosting guests. The sky terraces on levels 17 and 33 offer breathtaking panoramic views of the CBD skyline, Marina Bay, and the Kallang waterfront. According to Ken Low, managing partner at SRI, today’s homebuyers are looking for more than just a great location – they want homes that enhance their daily lives, with easy accessibility, thoughtful design, and inspiring facilities and spaces. Aurea delivers on all these fronts.

The commercial units at The Golden Mile, with 156 strata office units and 19 medical suites, were launched for sale in December 2024. The joint venture partners, Perennial and Far East Organization, plan to retain ownership of the revamped two-storey retail atrium to curate the tenant mix. The iconic Golden Mile Complex has immense potential, particularly in terms of office space, which may attract buyers, according to PropNex CEO Ismail Gafoor. He also notes that buyers today prioritize quality projects near MRT stations and with convenient access to essential amenities. The existing overhead bridge connecting The Golden Mile to the Nicoll Highway MRT Station on the Circle Line adds to its appeal.

Golden Mile Singapore is also conveniently located near major roadways such as Nicoll Highway, East Coast Parkway (ECP), and Kallang-Paya Lebar Expressway (KPE). It is also just 1km from the Kallang Alive Precinct, the Bras Basah-Bugis district, and a 10-minute drive from the CBD.

The last launch in the Beach Road neighborhood of District 7 was the 558-unit Midtown Modern in 2021, with all units sold as of Dec 2024 at an average price of $2,825 psf. Its neighboring 522-unit development, The M, was launched in 2020 and is now fully sold at an average price of $2,528 psf. The 219-unit Midtown Bay at Guoco Midtown was completed last year, with 63% of its units sold as of Feb 5 at an average price of $3,090 psf.

Given Aurea’s prime location, upscale residences, and The Golden Mile’s architectural heritage, PropNex CEO Gafoor estimates that prices for the apartment units could cross $3,000 psf. He adds that as most units from previous launches in the district have been sold, there could be pent-up demand for new homes in the area, making Aurea an attractive option for prospective homebuyers and investors.

Aurea is expected to be completed in the second quarter of 2029. For more information on this exciting development, visit Ask Buddy.…

It is crucial for international investors to have a solid understanding of the rules and limitations surrounding property ownership in Singapore. While the purchase of condos is generally less restricted for foreigners, landed properties have stricter regulations in place. Moreover, foreign buyers must also be aware of the Additional Buyer’s Stamp Duty (ABSD) of 20% that applies to their first property purchase. Despite these added expenses, the consistently stable and promising growth of the Singapore real estate market remains a major draw for foreign investment. With the inclusion of Singapore Projects, this country continues to be a highly sought-after destination for international investors.

Perennial Holdings and Far East Organization have just announced their latest project, Aurea, on Feb 6. This luxury apartment tower will be part of the Golden Mile Singapore mixed-use development situated along Beach Road.

Designed by DP Architects, Aurea boasts a total of 188 units spread across its 45-storey new residential tower. Occupying a site area of 144,908 sq ft, the development is also connected to The Golden Mile, a commercial building that features a mix of retail space, medical suites, and offices, through a link bridge.

Formerly known as Golden Mile Complex, The Golden Mile is a conserved building that holds great architectural heritage. It has the distinct honor of being the first collective sale and conservation of a building. The building was purchased en bloc for a whopping $700 million in May 2022 by Perennial Holdings and Far East Organization.

Given its prime location in District 7 in the Downtown Core and part of the Core Central Region (CCR), Aurea and The Golden Mile are expected to attract a lot of interest from discerning individuals and families who prioritize exclusivity.

The preview for Aurea, which will be by appointment only, is scheduled to start on Feb 22, with the official launch on Mar 8. The apartments are priced from $2,750 psf. For example, a two-bedroom unit with 646 sq ft will start from $1.92 million (equivalent to $2,972 psf).

Aurea offers a variety of unit types, including two- and three-bedroom apartments (112 units) ranging from 635 sq ft to 1,001 sq ft, four-bedroom units (56 units) ranging from 1,442 sq ft to 1,798 sq ft, and five-bedroom units (18 units) ranging from 2,863 sq ft to 3,251 sq ft. Additionally, there are two exclusive penthouses – a six-bedroom duplex of 5,608 sq ft and a six-bedroom triplex of 8,816 sq ft. The larger units and penthouses will have private lift access, and the triplex penthouse will also have a private pool.

Marcus Chu, CEO of ERA Singapore, believes that these larger units and penthouses are perfect for CCR homebuyers who lead affluent lifestyles. On the other hand, 60% of the units at Aurea are two- and three-bedroom units, which are expected to appeal to both homebuyers and investors.

Residents at Aurea will have access to a range of facilities, including two infinity pools on levels three and 33, a gymnasium, a bouldering wall, spa facilities, an indoor lounge, and multiple dining pavilions. The sky terraces on levels 17 and 33 offer breathtaking views of the CBD skyline, Marina Bay, and the Kallang waterfront.

According to Ken Low, managing partner at SRI, homebuyers today are looking for more than just a great location. They want a home that enhances their daily lives, is thoughtfully designed, and offers inspiring facilities and spaces – and Aurea delivers on all these fronts.

The Golden Mile also has a lot to offer, with 156 strata office units and 19 medical suites launched for sale in December 2024. The joint venture partners – Perennial and Far East – plan to retain ownership of the revamped two-storey retail atrium to curate the tenant mix. Ismail Gafoor, CEO of PropNex, believes that the iconic heritage of the former Golden Mile Complex, coupled with the potential of the commercial space, especially office space, will attract buyers.

Gafoor adds that buyers today prioritize quality projects located near MRT stations and essential amenities. Fortunately, The Golden Mile is just 1km from the Kallang Alive Precinct, the Bras Basah-Bugis district, and a 10-minute drive from the CBD. The development also has easy access to major roadways such as Nicoll Highway, East Coast Parkway (ECP), and Kallang-Paya Lebar Expressway (KPE).

The last launch in the Beach Road neighborhood of District 7 was Midtown Modern, a 558-unit development, in 2021. All units at Midtown Modern were sold as of Dec 2024, with an average price of around $2,825 psf, and the project is set to obtain TOP (Temporary Occupation Permit) sometime this year. Prior to Midtown Modern, The M, a neighboring 522-unit development, was launched in 2020 and is now 100% sold at an average price of $2,528 psf. The 219-unit Midtown Bay at Guoco Midtown was completed last year, and about 63% of the units have been sold since its launch in 2019, at an average price of $3,090 psf.

Gafoor estimates that prices of the apartment units at Aurea will exceed $3,000 psf due to its prime location, upscale residences, and the architectural heritage of Golden Mile Singapore. He also believes that the development will receive a lot of interest from prospective homebuyers and investors due to the previous launches in the district being sold out.

The expected completion date for Aurea is 2Q2029. Interested buyers can check out the latest listings for Aurea properties and get in touch with Ask Buddy for more information.…

MCL Land and CSC Land Group are excited to announce the launch of Elta, an upcoming residential development in the heart of Clementi. The 99-year leasehold property is set to open for preview on Feb 7, with public sales beginning on Feb 22.

Situated in a prime location along Clementi Avenue 1, the condo spans a spacious land area of approximately 144,788 sq ft and boasts two 39-storey towers. Featuring a total of 501 units, Elta offers a range of one-bedroom-plus-study to five-bedroom apartments, with sizes ranging from 506 sq ft to 1,776 sq ft. The joint developers have also prioritized adhering to URA’s harmonization guidelines in the design and construction of the development.

Interested buyers can get the latest updates on unit availability and prices by visiting the Elta showflat.

Prices for the units are indicative and start from $1.158 million ($2,289 psf) for one-bedroom-plus-study units, $1.388 million ($2,261 psf) for two-bedroom units, $2.198 million ($2,374 psf) for three-bedroom units, $2.798 million ($2,363 psf) for four-bedroom units, and $3.888 million ($2,189 psf) for five-bedroom units.

The showflat, located along Prince Charles Crescent, will showcase three layouts – a two-bedroom-plus-study unit that can be transformed into a compact three-bedroom, a four-bedroom dual-key unit, and a five-bedroom unit perfect for multi-generational living.

Elta is conveniently situated within walking distance to Clementi MRT Station on the East-West Line, as well as a variety of dining and shopping options including The Clementi Mall, 321 Clementi, and Grantral Mall. Families with school-going children will also appreciate the proximity to reputable schools such as Clementi Primary School, Pei Tong Primary School, Nan Hua Primary and High School, Anglo-Chinese School (Independent), and NUS High School of Math and Science.

Commenting on the development, MCL Land CEO Lee Tong Voon says, “Elta is designed to provide an elevated living experience, with its high-rise towers strategically oriented to offer panoramic views of the city, Pandan Reservoir, and the sea.”

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One crucial factor to take into account when considering condo investment in Singapore is the government’s property cooling measures. In an effort to keep the real estate market steady and prevent speculative buying, the Singaporean government has implemented several measures over the years. These include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may affect the short-term profitability of condo investments, they also contribute to the long-term stability of the market, creating a safer investment environment. For information on new condo launches, visit homesearch-md.com.

Adding to this, Qian Liang Zhong, chairman of China Construction (South Pacific) Development Co (CCDC), the parent company of CSC Land Group, says, “Clementi is a popular, vibrant town that seamlessly blends traditional shops and trendy amenities, providing convenience to the community.”

Elta will also feature a range of 50 facilities across five zones, including a 50-metre lap pool, gymnasium, tennis court, and gardening corner. The development is expected to obtain its temporary occupation permit in 2028.

Don’t miss the chance to own a piece of prime real estate in Clementi – head down to the Elta showflat to find out more!…

The marketing agent, Knight Frank Singapore, stated that the exclusive marketing of the high-specification warehouse and factory in Gul Circle, is now open for interested buyers to express their interest. The property, which comes with a guide price of $42 million, is a five-storey single-user factory and warehouse, with a mezzanine that spans four floors. With a total gross floor area of approximately 245,955 sq ft, this JTC leasehold property is situated on a 105,648 sq ft site with a remaining tenure of 15 years and 11 months, as at Feb 1. Its zoning as a Business 2 site under the URA Master Plan 2019 is expected to attract a wide range of potential industrial buyers.Recognizing the need for modern industrial facilities, the property has been purposefully designed to cater to the demands of various industries. Features such as high ceilings for efficient storage and operations, cold rooms and heavy floor loading capabilities are incorporated into the building. Additionally, the property boasts nine 40-footer loading and unloading bays with dock levelers, as well as four cargo and service elevators. Situated in the vicinity of major expressways such as the Ayer Rajah Expressway (AYE) and Pan-Island Expressway (PIE), as well as the Joo Koon MRT station, the property enjoys convenient accessibility and connectivity.Strategically positioned for businesses seeking a well-equipped industrial space, the expression of interest exercise will conclude on March 18, at 3pm. Interested buyers are invited to seize this opportunity to secure a high-specification warehouse and factory in the highly sought-after location of Gul Circle.

When it comes to real estate investment, location is a critical factor to consider, and this is especially true in Singapore. In this vibrant city-state, the value of condos is greatly influenced by their location. Those situated in central areas or close to important amenities like schools, shopping malls, and public transportation hubs tend to experience a higher appreciation in value. Prime locations in Singapore, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown strong growth in property values over the years. These areas are highly sought after for property investments, and adding the Singapore Projects only adds to their appeal. Another factor that contributes to the desirability of condos in these locations is their proximity to renowned schools and educational institutions, making them an ideal choice for families and further increasing their investment potential.…