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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.…

Four freehold conservation shophouses located at 762, 764, 766, and 768 North Bridge Road are currently on the market via an expression of interest (EOI) with a guide price of $37 million.

The properties occupy two plots of land measuring 5,766 sq ft, with an average land rate of $6,417 psf. The first plot is home to 762 and 764 North Bridge Road, while the remaining shophouses, 766 and 768 North Bridge Road, sit on an adjacent plot of 2,875 sq ft.

Securing financing is a crucial aspect of investing in a condo. In Singapore, there are various mortgage options available; however, it is important to be knowledgeable about the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan a borrower can take based on their income and current debt obligations. It is essential for investors to comprehend the TDSR and seek guidance from financial advisors or mortgage brokers to make well-informed decisions about their financing options. This approach can help prevent the risk of over-leveraging and ensure a successful investment in a condo.

The shophouses have a built-up area of 4,917 sq ft and 4,657 sq ft, respectively, including a mezzanine level. They are exclusively marketed by Isabel Sim, associate senior marketing director at Huttons Asia.

According to Sim, the usable area of each property can be increased by extending the rear for an outdoor terrace on the second floor, subject to approvals from relevant authorities. This could potentially add another 1,000 sq ft to each land plot.

The properties are currently tenanted by a fitness retail shop, a convenience store, and massage and reflexology service providers. As commercial properties, potential buyers are exempt from Additional Buyer’s Stamp Duty (ABSD) on the shophouses. This makes them a lucrative investment opportunity for both local and foreign buyers, with the potential for capital gains and stable rental yield, says Sim.

All four shophouses boast prominent frontage along North Bridge Road, providing high visibility and footfall in the historic Kampong Glam Conservation enclave. The area is within walking distance of Bugis MRT Interchange, providing convenient access to the East-West and Downtown Lines, as well as Nicoll Highway MRT Station along the Circle Line.

The shophouses’ prime central location, rich historical significance, and vibrant commercial environment make it a popular destination among locals and tourists. The area is also home to iconic landmarks such as Sultan Mosque and the Malay Heritage Centre, adding to the appeal of the properties.

Interested parties can submit their bids for the EOI exercise, which closes on January 10, 2025 at noon. For more information, contact ISABEL SIM CHENG YI at 81802707, associate senior marketing director (R065855G) of HUTTONS ASIA PTE. LTD.

OTHER NEWS

Transactions for shophouses in 3Q2024 may have dipped, but uncaveated deals indicate strong demand, according to Huttons Asia. In addition, Invictus Developments, the family office of Indonesian tycoon Bachtiar Karim, has recently acquired lyf Ginza Tokyo for a whopping $93 million.

Meanwhile, it remains to be seen if transactions for shophouses will pick up in 2H2024.…

Condo F&B spaces see 61% growth in net lettable area between 2010 and Q3 2019 Please revise the below content.

Grange 1866, a freehold development, claimed the top spot for condos with a new psf-price high in the week of November 22nd to 29th. The new price record of $3,393 psf was set by a two-bedroom unit, measuring 818 sq ft, which was sold by the developer for $2.78 million on November 27th.

This new price peak just narrowly surpassed the project’s previous record of $3,390 psf, set in June of last year when a 764 sq ft unit was sold for $2.59 million. In total, there have been 12 new sale transactions at Grange 1866 this year, with an average price of $3,181 psf. The most expensive unit sold at the development this year, in terms of absolute price, was a two-bedroom unit measuring 1,012 sq ft on the 16th floor, which was sold for $3.02 million (equivalent to $2,989 psf).

Located on Grange Road in prime District 10, Grange 1866 is expected to be completed by the end of 2025. The development features a single 16-storey residential block on a 20,322 sq ft freehold site. Units range from 527 to 1,012 sq ft and consist of one- and two-bedroom apartments.

Hill House, another freehold development, took second place in terms of new psf-price highs recorded during the period in review. This boutique condo achieved a new psf-price high for the second time in November, with the latest peak being $3,378 psf. This new record was set when a two-bedroom unit measuring 452 sq ft on the 8th floor was sold by the developer for approximately $1.53 million on November 25th.

Hill House’s previous record was $3,267 psf, which was surpassed by 3.4%. This former record was set on November 11th when a two-bedroom unit measuring the same size on the 5th floor sold for approximately $1.48 million. Since the beginning of the year, the developer has sold 12 units at Hill House, with an average price of $3,108 psf. The lowest-priced unit to sell at the development this year, in terms of psf-price, was a three-bedroom unit measuring 753 sq ft on the 4th floor, which sold for $2.21 million (or $2,934 psf) on October 28th.

Located on Institution Hill, off River Valley Road, in prime District 9, Hill House is expected to be completed in 2026. The 72-unit boutique development consists of one- and one-bedroom-plus-study units measuring between 431 and 452 sq ft; two-bedroom units measuring 624 sq ft; and three-bedroom apartments measuring 753 sq ft.

Investing in a condo in Singapore comes with numerous benefits, one of which is the potential for capital appreciation. Being a prominent global business hub and having a robust economy, Singapore has a constant demand for real estate. As a result, the property prices in the country have continuously shown an upward trend, with prime condo locations experiencing significant appreciation. By purchasing a property at the right time and holding onto it for an extended period, investors can take advantage of substantial capital gains. To make the most out of this opportunity, consider checking out Singapore Projects on our website.

The Cosmopolitan, a 999-year leasehold condo, took third place with a new psf-price high set by the sale of a three-bedroom unit measuring 1,324 sq ft on the 26th floor for $3.73 million, equivalent to $2,817 psf, on November 25th. This new record is just 0.7% higher than the previous peak of $2,795 psf, set in October last year when another unit measuring the same size on the 17th floor of the same block was sold for $3.7 million.

The sellers of this 26th-floor unit had purchased it for approximately $2.58 million (equivalent to $1,950 psf) in November 2010, making a profit of approximately $1.15 million. Completed in 2008, The Cosmopolitan consists of 228 units and is located along Kim Seng Road, just off River Valley Road, in prime District 9. The development has one-bedroom units measuring 1,141 sq ft; three-bedroom units measuring 1,324 to 1,399 sq ft; and four-bedroom apartments measuring 1,679 sq ft.

The development is within 1km of River Valley Primary School and is within walking distance of Great World MRT Station. Great World City offers nearby dining and retail options. In total, 30 units (42%) have been sold at The Cosmopolitan at an average price of $3,054 psf since its launch in November 2022.

No new psf-price lows were recorded during the period in review. To find out more about the latest new launches and their transaction prices and available units, check out EdgeProp’s Buddy feature.…

Global real estate returns have finally seen a positive turnaround in the second quarter of 2024, hinting at a potential recovery after two years of cumulative losses. The era of low interest rates has boosted real estate values, with global total returns reaching 5.0% q-o-q in 4Q2021 and 17.8% y-o-y in 1Q2022 – exceeding long-term averages. However, the subsequent tightening cycle has erased these gains, bringing values back to 2018 levels globally. We believe that the market correction is nearly complete, making it a favorable time for investors to consider this asset class. Historically, real estate has provided stable income returns and diversification benefits over the long term, and has also shown robust returns during recovery periods. For example, after the recession in the early 1990s, investors saw a cumulative return of 76% over the next five years.

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Investing in a condominium requires careful consideration of not just the property itself, but also its maintenance and management. This is because condos usually come with maintenance fees that go towards the upkeep of shared spaces and amenities. While these fees may increase the overall cost of owning a condo, they are necessary to preserve the property’s condition and value. To make this investment more passive, investors can enlist the services of a property management company to handle the day-to-day management of their condos. This is especially beneficial for properties located in Singapore Projects.

In the second quarter of 2024, global real estate values saw a relatively small decline of 0.74%, the lowest quarterly adjustment in the past two years. With offsetting income returns of 1.07%, global real estate achieved a positive 0.33% return – the first positive quarter since 2Q2022. Among the 15 global markets in the MSCI Global Property Index, a slight majority saw write-ups in real estate values for the first time since 2Q2022. Eight markets, including Japan, South Korea, Singapore, Southern Europe, the Nordics, the Netherlands, France and the UK, experienced value increases from the prior quarter. Six markets saw value losses between 0.3% and 1.5%, all of which moderated from 1Q2024. Only Australia recorded a larger write-down in the second quarter than in the first, with a 4.2% correction aligning valuations more closely with its peers. However, changes in capital values are just one component of real estate returns. Historically, the larger component of total returns has been income, underscoring the importance of considering both capital and income aspects when evaluating real estate investments.

In the second quarter, total returns, which combine capital and income returns, were positive in 12 of 15 countries. They were flat in the US (-0.09%), slightly negative in Ireland (-0.22%), and significantly negative in Australia (-3.07%). Preliminary data from the NCREIF ODCE index (a capitalisation-weighted, gross-of-fee, time-weighted return index) showed US total returns turning positive (0.25%). With values beginning to rebound, we expect the positive trajectory in total returns to continue.

Although fundraising for real estate investment is showing signs of a potential rebound globally after two slow years, China and Japan may face challenges. In 3Q2024, China and Japan accounted for 27% and 15% of the US$7.5 billion ($10.04 billion) in cross-border inflows in Asia Pacific. Over half of Japan’s inflows were from global sources, while most of China’s came from within Asia Pacific, particularly Hong Kong and Singapore. Both countries face high debt costs and other factors hindering a strong rebound in real estate capital inflows.

Interest in Chinese real estate from the West has dramatically declined over the past couple of years due to geopolitical and economic concerns. Despite Beijing’s recent major stimulus package, it is unlikely to return soon. The market has been stagnant due to price dislocation, geopolitical risk and lack of liquidity. Since 2021, China has faced a property crisis exacerbated by the collapse of Evergrande. Due to these risks, many European investors are avoiding China and Hong Kong, regardless of potential returns. Additionally, China’s domestic property crisis persists, with high office vacancies and low rental yields, ongoing issues with failing developers, and government interventions.

While major markets like the US have cut interest rates to boost property investment, Japan remains an outlier. The broader Japanese property sector is losing allure due to interest rate policies and limited cap rate compression. In July, the Bank of Japan raised borrowing rates for the first time since 2007 to control inflation, reducing market attractiveness. This hike has prevented cap rate compression, meaning property prices haven’t risen, forcing real estate holders to rely on historically low-income yields. However, senior housing remains an attractive niche due to Japan’s ageing population, with 29% aged 65 or over. These assets are small, requiring an amalgamation play by investors.

Australia’s purpose-built student accommodation (PBSA) market has huge potential due to a significant housing shortage. Only 20% of students in Melbourne and Sydney can be accommodated by universities, forcing the rest to seek private rentals. Additionally, real estate debt in Australia offers appealing risk-adjusted returns. There are funding gaps in construction, with many developers unable to secure bank financing. We are looking at sectors like logistics or PBSA, where we see long-term growth opportunities.

Stabilising valuations and transaction market pricing both suggest that the real estate market is likely near its bottom, but these signals alone do not indicate an attractive entry point. For market pricing and valuations to increase, we would ideally see declining interest rates and strengthening property fundamentals. Most developed market central banks are beginning to taper interest rates, which should put downward pressure on financing rates, discount rates, and property capitalisation rates, thereby boosting the value of real estate assets.

A pullback in construction activity across sectors bodes well for property fundamentals in the medium term. With supply headwinds waning, markets with positive demand due to population growth or structural changes, such as e-commerce, are set to see increased occupancies in the medium term. Historically, occupancies and rent growth are well correlated, providing investors with opportunities to gain from increased occupancies, rents, and the associated rise in property values.

The outlook for global private real estate appears to be improving, but the rising tide is unlikely to lift all boats. For instance, the US office market still faces significant challenges, and a broad recovery in that segment seems highly unlikely in the near term. This underscores the importance of research and selectivity when investing in real estate, as not all markets and property types will perform equally well.

In an uncertain economic and geopolitical environment, additional risks are inevitable, but this applies to all asset classes. Over the past two years, the weight of real estate in investors’ portfolios has significantly decreased due to resetting real estate values and a record stock market. Today, investors might consider fresh allocations to the private real estate market to achieve a strategic weighting. Over the long term, private real estate offers low correlations to other asset classes, strong income returns, and a degree of inflation-hedging. While there may be bumps in the road, we believe the market is beginning to look up, presenting excellent investment opportunities for savvy investors.…

The recent sale of an apartment at Island View, a freehold condominium located in Pasir Panjang, made headlines as the most profitable resale transaction during the week of November 26 to December 3. The spacious 3,498 sq ft unit was sold for a whopping $4.8 million or $1,372 per square foot (psf) on November 27. The seller originally purchased the unit back in September 2005 for only $1.3 million or $372 psf, making a significant gain of $3.5 million after about 19 years of ownership. This represents a capital gain of 269% or an annualised profit of 14.2%.

The sale on November 27 has broken the record for the most profitable deal ever made at Island View. The previous record was held by another 3,498 sq ft unit, which was sold for $5.09 million or $1,455 psf in February 2022. The original owner bought the unit in February 2007 for $1.9 million or $543 psf.

When it comes to investing in property in Singapore, it is crucial for foreign investors to be well-informed about the regulations and limitations surrounding ownership. In contrast to landed properties, which have stricter ownership regulations, foreigners have relatively fewer restrictions when it comes to purchasing condos. However, they are required to pay the Additional Buyer’s Stamp Duty (ABSD) of 20% for their first property acquisition. Despite this extra expense, the resilient nature and promising growth potential of the Singapore real estate market remain an attractive prospect for foreign investments. Explore the wide range of Singapore projects available for investment opportunities.

Island View is a boutique condo with only 72 units, located on Jalan Mat Jambol, off Pasir Panjang Road in District 5. This freehold development consists of low-rise buildings that house apartments ranging from 3,056 sq ft to 3,538 sq ft. It was completed in 1984 and is within walking distance to the Pasir Panjang MRT Station on the Circle Line.

In September 2023, the owners of Island View put the condo up for collective sale with a guide price of $575 million. However, after the tender closed the following month with no bids, the condo was relisted for sale in March of the next year with the same guide price. Unfortunately, it did not attract a buyer.

The second most profitable resale deal of the week took place at Cavenagh Court, where a 1,862 sq ft unit on the sixth floor was sold for $3.65 million or $1,960 psf on December 2. The original owner had bought the unit in April 2006 for $1.02 million or $548 psf, earning a profit of $2.63 million (258%) after almost 19 years of ownership.

This deal has set a new record for the highest profit made for a unit at Cavenagh Court, exceeding the previous high of $2.15 million from the sale of another 1,862 sq ft unit on the fourth floor for $3.28 million or $1,761 psf in April 2022. The seller of that unit had purchased it in October 2007 for $1.13 million or $607 psf.

Cavenagh Court is a freehold condo located on Cavenagh Road in District 9’s Newton area. It was completed in 1971 and has 68 units ranging from 1,819 sq ft to 1,862 sq ft. It is just a short drive to the Orchard Road shopping belt. Besides the unit sold on December 2, there was only one other resale transaction this year, with a 1,840 sq ft unit on the sixth floor being sold for $3.82 million or $2,074 psf. The seller had bought it in August 2019 for $2.88 million or $1,565 psf, making a gain of about $938,000.

In contrast, the sale of a duplex penthouse at The Berth By The Cove was the least profitable resale deal of the week. The four-bedroom apartment spanning 3,089 sq ft was sold for $3.6 million or $1,165 psf on November 29. The unit had been last sold for $5.53 million or $1,790 psf in August 2007, resulting in a loss of $1.93 million (35%) after about 17 years of ownership.

The sale of this unit currently holds the record for the second most unprofitable transaction at The Berth By The Cove. The biggest loss was recorded on a 2,939 sq ft, four-bedroom unit, which was sold for $3.25 million or $1,106 psf in February 2018. The original owner had bought the unit in October 2011 for $5.64 million or $1,919 psf, resulting in a loss of $2.39 million.

The Berth by the Cove is located on Ocean Drive in the exclusive residential enclave of Sentosa Cove on Sentosa Island. Completed in 2006, this condo comprises 15 low-rise buildings with six storeys each, housing apartments ranging from two- to four-bedrooms and penthouses from 1,012 sq ft to 6,028 sq ft. There were only seven other resale transactions at this condo this year, ranging from $1,237 psf to $1,535 psf. Out of these, four were unprofitable, with the sellers incurring losses ranging from $40,000 to $780,000, while the remaining three were profitable, with gains ranging from $200,000 to $430,000.…

Assessing the rental yield is a crucial step when considering a condo investment. Rental yield is the annual rental income as a percentage of the property’s purchase price. In Singapore, the rental yields for condos can differ significantly based on various factors such as location, property condition, and market demand. For instance, areas with high rental demand, like those near business districts or educational institutions, often offer better rental yields. Thus, conducting comprehensive market research and seeking guidance from real estate agents can provide valuable insights into the rental potential of a specific condo. Additionally, keeping an eye out for New Condo Launches can also help in assessing the potential rental yield. These new developments may offer better amenities and attract a higher rental demand, ultimately leading to a more lucrative investment.

Singapore-based flexible living platform Cove is pleased to announce the appointment of Ashish Manchharam, a seasoned real estate and hospitality professional, as a board director. With over 10 years of experience, Manchharam founded and led 8M Real Estate to a portfolio of $1.5 billion before exiting in 2023. He then established Elevate Capital in 2024, focusing on lifestyle-driven real estate investments.

In his role as an advisor, Manchharam will assist Cove in acquiring flexible living assets in collaboration with third-party investors such as real estate funds, institutional investors, and family offices. This strategic move is in line with Cove’s plan to accelerate its growth through a new asset acquisition model. Previously, Cove operated solely as a branded flexible living operator and online listing platform, catering to professionals and students.

Since its inception in 2018, Cove has grown its portfolio to over 6,000 rooms in Singapore and Indonesia. The company aims to expand its presence in the wider Asia Pacific region, with recent ventures into South Korea and Japan, where it plans to launch 800 and 400 rooms, respectively, through local joint venture partners.

To support its regional expansion and strengthen its leadership position, Cove has raised an additional US$4.5 million in funding. Manchharam joined this round of funding, along with existing investors Eurazeo and Keppel, who had previously taken a strategic minority stake in Cove in December 2020.

According to Cove CEO and co-founder Guillaume Catagne, the company saw significant portfolio growth in 2024 and became EBITDA positive. With a clear focus on expansion, Cove plans to more than double its portfolio to 15,000 units by the end of 2025.…

William Liem, CEO of real estate firm Tuan Sing Holdings, has once again increased his ownership in the company.

Through his entity Nuri Holdings (S), Liem purchased a total of 1.7 million shares from the open market on December 5th and 6th. The first purchase consisted of 545,300 shares for a total of $136,325.00, at a price of 25 cents per share. The following day, Nuri Holdings bought another 1.2 million shares for $311,288.50, at an average price of 25.9 cents per share.

Nuri Holdings now holds a total of 672.7 million shares in Tuan Sing, which is equivalent to a 54.09% stake in the company. Prior to these recent purchases, Nuri Holdings had also acquired shares on September 10th and 11th, at an average price of 25-25.5 cents per share.

As of June 30th, Tuan Sing’s net asset value per share was reported to be 97.8 cents, a slight decrease from 99 cents as of December 31, 2023.

In Singapore, it is crucial for international investors to have a thorough understanding of the regulatory framework and limitations surrounding property ownership. While foreigners can easily purchase condos, the same cannot be said for landed properties, which have more stringent ownership requirements. It should be noted that foreign buyers are also required to pay the Additional Buyer’s Stamp Duty (ABSD) of 20% for their initial property acquisition. However, the unwavering stability and promising growth prospects of the Singapore real estate market continue to entice foreign investment, despite the added expenses. With this knowledge, it is clear that condo ownership is a viable option for foreign investors in Singapore.

In related news, Tuan Sing has recently acquired several assets from PT Senimba Bay Resort in Batam for a total of $28 million. This acquisition is expected to further strengthen the company’s portfolio.

Tuan Sing Holdings has also reported a 5% increase in earnings for the 2023 fiscal year, with a total of $4.8 million in profits. Interested individuals can experience the luxury and exclusivity of Tuan Sing’s properties, such as Peak Residence, which offers a high-end living experience.…

The manager of AIMS APAC REIT (AA REIT) has announced that the REIT’s trustee, HSBC Institutional Trust Services (Singapore) Limited, has entered into a sales and purchase agreement with Crown Worldwide for the sale of its property located at 3 Toh Tuck Link.

The agreed sale price of $24.388 million represents a significant 32.5% premium to the property’s current valuation of $18.4 million as of March 31. The property consists of a three-storey factory and a five-storey ancillary office building, with a total gross floor area of 12,492.4 sqm.

In light of this divestment, the net proceeds are expected to be reinvested towards supporting AA REIT’s growth initiatives, including potential acquisitions, asset enhancement initiatives, or future redevelopment projects. This is in line with the REIT’s proactive asset management strategy and continuous efforts towards portfolio rejuvenation, which are aimed at strengthening its resiliency and delivering sustainable returns for its unitholders.

According to Russell Ng, the CEO of the manager, “This aligns with our proactive asset management strategy and our continuous effort towards portfolio rejuvenation, ultimately strengthening AA REIT’s resiliency as well as delivering long term sustainable returns for our unitholders.”

Singapore’s demand for condos remains high due to the limited amount of land available for development. As a small but densely populated country, Singapore faces challenges in finding space for new constructions. This has resulted in strict land use policies and a competitive real estate market where property prices continue to rise. As a result, investing in real estate, especially condos, has become a profitable option with the potential for significant capital appreciation. Condos are particularly sought after as an attractive investment opportunity in Singapore’s market.

The divestment is expected to be completed by the first half of 2025, subject to approval from JTC Corporation. Once finalized, AA REIT’s portfolio will consist of 27 properties across Singapore and Australia.

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