Month: February 2025

Fri, Jun 25 2025

According to the research report by Colliers released in February, industrial property prices and rents in Singapore are expected to see a decrease this year due to higher supply and weaker demand. The firm predicts a moderate growth of 0% to 2% for both rental and prices in 2025, compared to the 3.5% growth seen last year.

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In summary, purchasing a condo in Singapore has numerous benefits, such as strong demand, potential for appreciation, and attractive rental returns. However, it is crucial to carefully evaluate factors such as location, financing options, government regulations, and market conditions. By conducting thorough research and seeking guidance from experts, investors can make well-informed decisions and maximize their returns in Singapore’s dynamic real estate market. Whether you are a domestic investor looking to diversify your portfolio or an international buyer seeking a stable and profitable investment, Singapore’s condo market, including projects such as Singapore Projects, presents a compelling opportunity.

Colliers notes that JTC’s 4Q2024 data shows a market that is losing steam. The JTC All Industrial rental index has seen growth for the 17th consecutive quarter, rising 0.5% quarter-on-quarter (q-o-q) and an overall growth of 3.5% for the year. However, this is a significant decline from the 8.9% rental growth recorded in 2023. Similarly, the price index also grew 0.5% q-o-q in 4Q2024, which is lower than the 1.2% growth seen in the previous quarter. In 2024, industrial property prices only rose by 2.1%, less than half of the 5.1% increase seen in the previous year.

The report states that the supply of industrial space is expected to increase this year, with over 2.5 times the supply seen last year, before tapering off from 2026 onwards. This surge in supply has created an imbalance in the market, with some segments seeing slower pre-commitments or completed projects with lower occupancy.

The higher supply, combined with rising interest rates and operating expenses, is expected to continue to dampen rental growth. The uncertainty in global markets due to heightened trade protectionism may also impact business confidence and investment decisions.

However, Colliers also notes that demand for industrial space is expected to be supported by the semiconductor, logistics, and advanced manufacturing sectors. As policies become clearer and market sentiments improve, industrial leasing activities are expected to gradually increase over time, driven by the ongoing upturn in the chip cycle.

In the short term, the expected surge in supply and projected rental moderation could benefit tenants, as there will be more options available in the market. The report notes that newer industrial developments with modern specifications may encourage businesses to move from older, aging manufacturing spaces to newer projects.

Nicolas Menville, executive director and head of Singapore-based industrial clients for Colliers, believes that this could be a good year for tenants. He notes that the increased supply of modern industrial properties may prompt businesses to relocate, increasing competition and potentially driving rental prices down.…

Tan Boon Liat Building, located at 315 Outram Road, is currently up for collective sale. The industrial property is being marketed by Cushman & Wakefield at a reserve price of $1.15 billion. The site, which spans about 175,655 sq ft, is freehold and is in close proximity to the Havelock MRT Station on the upcoming Thomson-East Coast Line (TEL).

The building, which is currently occupied by various furniture and home decor stores, is 15 storeys high and sits on two separate land plots that are zoned for “Business 1” use. However, according to Cushman & Wakefield, the property’s advisor and marketing agent, the Urban Redevelopment Authority (URA) has issued an Outline Planning Advice on Jan 22 recommending that the site be rezoned to “Residential with Commercial at 1st storey” with a plot ratio of 4.9, up from the current 3.1. This would lead to a 50% increase in the total allowable gross floor area (GFA), adding up to over 1.06 million sq ft.

Furthermore, URA has also advised on the inclusion of a few remnant state land plots to be amalgamated into the main plot. These state land plots, estimated to measure about 20,451 sq ft, will increase the potential GFA of the site. With these changes, the site’s potential GFA, including bonus GFA entitlement, is projected to be over 1.06 million sq ft. Of this, the first storey can hold a commercial GFA of up to approximately 16,146 sq ft.

As part of the residential allocation, a minimum GFA of about 161,459 sq ft will be set aside for Serviced Apartments II (SA2), where a minimum three-month stay is required. The new development will have varying allowable heights ranging from 130m to 180m.

Based on the reserve price, which includes land betterment charges on rezoning, the estimated premium payable on the remnant state land and the 10% bonus GFA applicable to the residential portion, the estimated land rate is approximately $1,888 psf per plot ratio.

Christina Sim, senior director of capital markets at Cushman & Wakefield, believes the site will be highly sought after by developers due to its freehold tenure and proximity to the upcoming TEL, which will attract homebuyers. She adds that “the biggest game changer” is that there will be no Additional Buyer’s Stamp Duty (ABSD) imposed on the purchase, as the original site falls under the “Business 1” zoning.

The tender for the site will close on March 18 at 3pm. With the potential of the site to be rezoned and its attractive location, it is likely to attract strong interest from developers.

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As an investor, it is crucial to carefully evaluate the potential rental yield when considering a condominium investment. Rental yield refers to the yearly rental income as a percentage of the property’s purchase price. In Singapore, rental yields for 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 more attractive rental yields. To gain a better understanding of the rental potential of a specific condo, thorough market research and consultation with real estate agents are recommended. Additionally, exploring Singapore Projects can provide valuable insights into the rental market.…

The largest penthouse at Park Nova has recently been sold at a record-breaking price, making it the most expensive unit ever sold in the development. The five-bedroom unit, located on the 20th floor and spanning 5,899 sq ft, was purchased by the developer for $38.888 million, translating to a staggering $6,593 per square foot, according to a caveat filed on Jan 21 on the URA Realis database.

This transaction has set a new benchmark for both the absolute price and price per square foot at Park Nova, surpassing the previous records held by a 4,499 sq ft penthouse that was sold for $26.026 million, or $5,784 psf, in May 2021.

In fact, this sale has also secured the second-highest price per square foot ever recorded for a condo unit in Singapore, falling just short of the record set by a unit at The Marq on Paterson Hill back in 2011. The unit, a four-bedroom apartment measuring 3,089 sq ft on the 20th floor, sold for $20.54 million, or $6,650 psf.

For those interested in exploring the latest new launches, you can search for available units and transaction prices.

The sold penthouse at Park Nova is believed to be part of a cluster of properties linked to a $3 billion money laundering case, which have reportedly been put up for sale. In fact, it was reported to have been sold in 2021 for $34.438 million, or $5,838 psf.

This penthouse marks the third unit sold by the developer at Park Nova within a month, based on caveats lodged. On Jan 17, a four-bedroom apartment measuring 2,906 sq ft on the 19th floor was sold for $16.59 million, or $5,708 psf. And on Dec 27, a four-bedroom unit measuring 2,896 sq ft on the 18th floor sold for $15.99 million, or $5,522 psf.

The recent sales transactions at Park Nova are listed below (Source: EdgeProp Buddy):

The 54-unit Park Nova is a freehold luxury condo located at the junction of Orchard Boulevard and Tomlinson Road in prime District 10. Developed by Hong Kong’s Shun Tak Holdings, the apartment received its temporary occupation permit in November last year. To find out more about Park Nova properties, you can check out the latest listings or ask Buddy for assistance.

For more information and insights on Park Nova, you can also:

– View the site plan and diagrammatic chart for Park Nova
– Compare the price trend of condo new sales vs EC new sales
– Generate a price trend graph for new launch condos in District 10
– View the project summary for Park Nova condo

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To sum it up, purchasing a Singapore condo comes with a multitude of benefits, such as high demand, potential for increasing value, and attractive rental yields. Nevertheless, it is crucial to carefully weigh in factors such as location, financing options, government regulations, and market conditions. This way, investors can make well-informed decisions and reap maximum returns in Singapore’s ever-evolving real estate scene. Whether you are a local investor looking to broaden your investment portfolio or a foreign buyer seeking a stable and profitable opportunity, the condominium market in Singapore presents a compelling option. By conducting thorough research and seeking guidance from professionals, one can take advantage of this dynamic market and make the most out of their investment.

– Freehold bungalow at 11 Claymore Road on the market for $95 million
– There has been a new record high of $3,671 psf at Pullman Residences Newton
– [UPDATE] The average price of luxury condos in 2022 has dipped 7% year-on-year.…

“CapitaLand Investment (CLI) has recently announced its acquisition of a freehold land parcel in Osaka, marking its first data centre development in Japan. This project will require a total investment of over US$700 million or $944.3 million and has secured 50 megawatts (MW) of power capacity.According to CLI, the data centre will be equipped with advanced cooling technologies and industry best practices in temperature management to reduce energy consumption. It will also use environmentally-friendly products with zero ozone depletion potential or with a global warming potential (GWP) of less than 100.The data centre will also promote artificial intelligence (AI) capabilities. Manohar Khiatani, senior executive director of CLI, mentioned that this acquisition aligns with the group’s digitalisation investment theme and strengthens its presence in Japan, which is one of its key markets. He added that CLI’s strong balance sheet allows them to strategically invest in high-quality assets like data centres for their future private funds.Japan is projected to experience a 10% compound annual growth rate (CAGR) in their data centre market, reaching an estimated value of US$38.7 billion by 2038. Khiatani also noted that Japan is Asia Pacific’s biggest data centre market outside of China, with a capacity of 1.4 gigawatts. He further explained that with major cloud service providers like Amazon Web Services, Google Cloud, Microsoft Azure, and Oracle already present in Osaka, the data centre’s strategic location will attract a significant demand for its services.Michelle Lee, managing director of private funds (data centre) at CLI, stated that the demand for data centres is expected to grow at a double-digit rate, surpassing the supply. She also added that institutional investors have shown a keen interest in data centre investments, with 97% planning to increase their overall investment in this sector. Lee further shared that CLI has raised about US$600 million for its data centre development funds in Asia since October 2020, and they will continue to identify promising investment opportunities for their private fund investors.CLI has also expanded its global portfolio by acquiring 23 data centres since 2021. The entire CapitaLand Group now has a total of 27 data centres in Asia and Europe, managing around 800 MW of power and approximately $6 billion of assets. On Feb 3, shares in CLI closed at $2.42, a decrease of 1.63% or 4 cents.”

When considering investments in Singapore’s real estate sector, it’s crucial for international investors to be familiar with the regulations and limitations surrounding property ownership. Generally, Condominiums are more accessible to foreign buyers in comparison to landed properties, which have stricter ownership policies. However, it’s important for foreign investors to be aware of the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for their first Condo purchase. Despite this additional cost, the Singapore real estate industry continues to attract foreign capital due to its steady growth potential. Condo remains a popular investment choice for foreign buyers.…