Casa Fidelio, located on Fidelio Street in District 15, is set to be put up for collective sale through a tender on March 20. The development, which consists of seven cluster terraces completed in 1990, has a reserve price of $24 million ($1,388 psf land rate) and is being marketed by PropNex Realty.

According to PropNex, this will be the first attempt by Casa Fidelio owners to sell the property en bloc. The development occupies a land area of around 17,293 sq ft and is zoned for residential use, with a two-storey mixed-landed housing designation.

Casa Fidelio is located in a landed housing enclave just a short drive away from various amenities, including East Coast Park, dining and lifestyle options at the Katong and Joo Chiat precincts, and malls such as Siglap Village, Siglap Centre, and Bedok Mall. More amenities are also expected to be added with the future completion of Kembangan Wave, an integrated public housing project next to Kembangan MRT Station that will include a community club, eating house, supermarket, and outpatient healthcare facility.

The development is also surrounded by educational institutions, including Opera Estate Primary School, St Stephen’s School, and Victoria School.

When contemplating a Singapore Condo investment, it is crucial to evaluate the potential rental yield as well. Rental yield represents the yearly rental income in relation to the property’s purchase price. In Singapore, condo rental yields can vary significantly 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, tend to offer better rental yields. To gain valuable insights into the rental potential of a particular Singapore Condo, it is advisable to conduct thorough market research and seek advice from real estate agents.

According to Laurence Wong, PropNex’s head of collective sales, the site has the potential to be developed into a variety of configurations, including luxury cluster houses, landed terraces, or even an expansive standalone property. Its regular shape and ample size provide developers with the flexibility to design a project that maximizes both functionality and aesthetic appeal. Wong adds that the site is well-placed to cater to the demand for landed homes in the East Coast area.

Recent caveats show that the last transaction at Casa Fidelio was in September 2020 when a house with a land area of 1,894 sq ft was sold for $2.27 million ($1,198 psf). In comparison, only two freehold landed homes on Fidelio Street were transacted in 2020, with a terrace house occupying a land area of 3,423 sq ft fetching $9 million ($2,629 psf on land area) and a semi-detached house on 2,035 sq ft of land fetching $5.38 million ($2,643 psf on land area). In December 2020, a recently-built corner terrace on Jalan Bangsawan, off Swan Lake Avenue, was sold for $3,541 psf, less than 400m away from Casa Fidelio.

The tender for Casa Fidelio will close on April 22 at 3pm. Interested parties can check out the latest listings for Casa Fidelio properties or contact a property agent for more information.…

Opting to invest in a Singapore Condo has become increasingly popular among both domestic and international investors due to the country’s robust economy, stable political climate, and exceptional standard of living. Singapore’s real estate market offers a wide range of opportunities, with condos standing out as a preferred choice for their convenience, extensive amenities, and potential for profitable returns. In this article, we will explore the benefits of investing in a Singapore Condo, key considerations to keep in mind, and the necessary steps to take when making such an investment. Singapore Condos offer a wealth of opportunities that make them an attractive option for investors.

CDL, MCL Land jointly tender for site in Tengah Digital District

The recent tender for a 99-year private housing Government Land Sale (GLS) site in the upcoming Bayshore precinct has attracted strong interest, with a total of eight bids being submitted by the closing date on March 18. The highly sought-after plot, located on Bayshore Road next to the upcoming Bayshore MRT Station, spans 112,992 sq ft and is expected to yield around 515 residential units.

SingHaiyi-Garnet, a joint venture between SingHaiyi Group and Haiyi Holdings, submitted the top bid of $658.89 million, which translates to a land rate of $1,388 per square foot per plot ratio (ppr). This bid was just 0.82% higher than the second-highest bid of $653.53 million (or $1,377 psf ppr) submitted by Sing Holdings. The third-highest bid of $620.8 million (or $1,308 psf ppr) was submitted by City Developments, which was 5.3% lower than Sing Holdings’ bid. Justin Quek, CEO of OrangeTee & Tie, notes that the highest bid prices exceeded initial expectations, indicating strong confidence in the site’s potential.

Mark Yip, CEO of Huttons Asia, states that this is the highest number of bids received for a private housing GLS site since January 2022, when a Jalan Tembusu plot (now the site of Tembusu Grand) also received eight bids. He believes that developers may have refrained from bidding on other GLS sites in order to focus on the Bayshore site. “The strong sales in recent months have also increased the need for developers to replenish their land bank,” he adds.

Other bidders for the Bayshore Road site included a consortium led by Frasers Property, Kingsford Development, and a joint venture between Hoi Hup Realty and Sunway Developments. The bids submitted by the various parties ranged from $1,252 psf ppr to $1,285 psf ppr. The two lowest bids were submitted by a consortium consisting of Hong Leong Holdings, TID, and CSC Land Group at $500.68 million ($1,055 psf ppr), and Sim Lian Group at $485 million ($1,022 psf ppr).

According to Marcus Chu, CEO of ERA Singapore, the significant 36% gap between the lowest and highest bids received for the Bayshore Road site reflects mixed market sentiments among potential bidders. He also highlights that SingHaiyi’s bid of $1,388 psf ppr sets a new benchmark for land prices in the Outside Central Region (OCR), surpassing the previous threshold of $1,250 psf ppr paid by MCL Land and CSC Land Group in November 2023 for the site of the recently-launched Elta at Clementi Avenue 1.

Wong Siew Ying, head of research and content at PropNex, adds that this new OCR benchmark rivals the land rates of some GLS sites in the Core Central Region. For instance, last year, Zion Road Parcels A and B in the Rest of Central Region were awarded at $1,202 psf ppr and $1,304 psf ppr, respectively, while the Holland Drive and River Valley Green (Parcel A) sites in the Core Central Region sold for $1,285 psf ppr and $1,325 psf ppr, respectively.

The future development on the Bayshore Road site will be the first private residential project in the new Bayshore precinct, which is a 60-hectare estate situated between East Coast Parkway (ECP) and Upper East Coast Road. Around 10,000 homes have been designated for the Bayshore area, with approximately 30% of them allocated for private housing.

Huttons’ Yip observes that the Bayshore Road GLS site is likely the best site in the Bayshore precinct, given its sea views and doorstep access to Bayshore MRT Station. Additionally, the neighborhood will benefit from various new amenities, as well as long-term development plans such as the Long Island coastal protection project, which will add reservoirs and parks in the Bayshore area, according to Leonard Tay, Knight Frank Singapore’s head of research.

PropNex’s Wong notes that there have been no significant private condo launches in the Bayshore area for decades. Existing condos in the vicinity include The Bayshore, launched in the 1990s, and Costa Del Sol, which hit the market in 2000. As a result, there may be pent-up demand for new private housing in the area, including demand from HDB upgraders in the nearby Marine Parade and Bedok estates, the experts say. “Riding on the recent positive sales momentum in the primary market, and the anticipation of healthy homebuying interest for the future Bayshore project, it is little wonder that developers were out in droves for this GLS tender – perhaps also hoping to gain a first-mover advantage in that area,” adds Wong.

Based on the top bid of $1,388 psf ppr, Wong predicts that the future development on the Bayshore Road site could fetch an average selling price of over $2,600 psf. Meanwhile, Knight Frank’s Tay estimates that prices at the upcoming project could start from $2,700 psf and average above $2,800 psf.…

The cityscape of Singapore is defined by its towering skyscrapers and state-of-the-art infrastructure. Condominiums, strategically situated in sought-after locations, offer a harmonious blend of opulence and convenience that appeals to both locals and foreigners alike. These modern residential complexes boast a plethora of 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 tenants and buyers. As an investment opportunity, these features translate into attractive rental returns and appreciating property values over time. Additionally, with the emergence of Singapore Projects, these condos offer even more promising prospects for investors.

New private home sales remained robust in February, thanks to the strong performance of recent launches. According to data released by the Urban Redevelopment Authority (URA) on March 17, developers sold 1,575 units, excluding executive condos (ECs), last month, marking a 45.4% increase from January’s sales of 1,083 units.

On a year-on-year basis, February’s new home sales were over 10 times higher than the 153 units sold in the same month in 2024. This is also the highest February sales figure in 13 years, since 2,417 units were sold in February 2012, says Tricia Song, head of research for Singapore and Southeast Asia at CBRE. Including ECs, new home sales totaled 1,604 units last month, a 45.3% jump from January.

Developers have sold a total of 2,658 units (excluding ECs) since the start of the year. In comparison, last year it took developers eight months to reach a similar figure, observes Leonard Tay, head of research at Knight Frank Singapore.

The impressive performance in February was driven by two major launches in the Outside Central Region (OCR): The 1,193-unit ParkTown Residence in Tampines North and the 501-unit Elta on Clementi Avenue 1. ParkTown Residence sold 1,041 units in February at a median price of $2,363 psf, making it the top-selling project for the month. The units sold translate to an 87% take-up rate at the integrated project, which is jointly developed by UOL Group and CapitaLand Development. Elta was the second best-performing project, with developers MCL Land and CSC Land Group selling 65.1% or 326 units at a median price of $2,538 psf. CBRE’s Song points out that both ParkTown Residence and Elta are located in suburban neighborhoods which have not seen any new supply in at least the past five years, contributing to the projects’ strong performances.

Including the two projects, developers launched a total of 1,694 units for sale in February, a significant increase of 89% from the 896 units launched the month before. Furthermore, developers’ sales in the OCR accounted for a staggering 92% of total new private homes sold in February, with 1,452 units sold. This reflects the best monthly showing for the OCR in over nine years, since 1,523 units were sold in July 2015, says Wong Siew Ying, head of research and content at PropNex Realty.

The Rest of Central Region (RCR) accounted for 98 or 6.2% of units sold in February. The best-selling RCR project was existing launch Pinetree Hill, which sold 22 units at a median price of $2,613 psf. In the Core Central Region (CCR), only 25 units were sold, accounting for 1.6% of developers’ sales last month. The best-selling CCR project was 19 Nassim, which sold five units at a median price of $3,372 psf. Additionally, four units were sold at One Bernam at a median price of $2,651 psf. The 351-unit One Bernam, which launched for sale in May 2021, is now fully sold.

In terms of buyer profile, Singapore citizens accounted for the majority of new private home buyers at 92.4%, followed by permanent residents at 6.9%, notes Lee Sze Teck, senior director of data analytics at Huttons Asia. Foreigners accounted for 11 new home purchases, including the two most expensive transactions in February – the sale of two units at 32 Gilstead for $14.47 million and $14.61 million.

A record number of suburban homes were sold for over $2 million in February, with 603 new private homes (including ECs) in the OCR selling at this price range. This marks the highest number of new suburban homes sold at this price range in a single month since URA data first became available in 1995. “The previous record was in November 2024, with 512 new homes in the OCR sold for at least $2 million,” adds Christine Sun, chief researcher and strategist at OrangeTee Group. Of the 603 OCR homes that transacted for at least $2 million, 596 were non-landed homes, consisting largely of units from ParkTown Residence (397 units), Elta (145 units) and Hillock Green (16 units).

Enterprising investors have decoupled the average unit prices of recent launches from the sub-market where these projects are located. While property prices generally follow a pecking order led by the CCR, followed by the RCR and then the OCR, recent launches indicate that may no longer always be the case. For example, The Collective at One Sophia, a CCR project launched last November, has sold 73 units at an average unit price of $2,743 psf, based on URA data up until the end of February. “This is lower than the average transacted price of units sold at Union Square Residences ($3,175 psf) in the RCR, and only slightly higher than that of The Orie ($2,734 psf), also in the RCR,” notes Wong. Recent OCR launches such as Chuan Park, Elta and Bagnall Haus have registered average unit prices of $2,589 psf, $2,544 psf and $2,489 psf, respectively, surpassing RCR project Nava Grove, which logged an average unit price of $2,460 psf. The narrowing price gaps between regions could be due to various factors, including site-specific attributes of projects, amenity-driven pricing, demand by HDB upgraders, and the location of certain projects on the cusp of the CCR.

The strong momentum in developers’ sales is expected to continue in March, bolstered by recent launches such as the 477-unit Lentor Central Residences, the 188-unit Aurea, and the 760-unit Aurelle of Tampines EC. “As of mid-March, these projects have collectively sold over 1,150 units, promising a strong closing to the quarter,” comments Marchus Chu, CEO of ERA Singapore. Considering the robust first-quarter sales, ERA has revised its new private home sales projection for the whole of 2025 to between 8,500 and 9,000 units, up from its previous range of 7,000 to 8,000. Huttons’ Lee forecasts that developers’ sales (excluding ECs) will exceed 3,200 units in the first quarter of the year, making it the highest first-quarter sales since 2021. Looking ahead to the second quarter, new launches potentially include the 358-unit Bloomsbury Residences, the 937-unit One Marina Gardens, the 638-unit W Residences Singapore – Marina View, and the 107-unit Arina East Residences. However, despite the strong momentum established at the start of the year, not all projects launched in the coming months may perform equally well, notes Tay. “Homebuyer demand will largely depend on the specific location and property attributes of each specific new project launch, with some projects doing better than others,” he says.…

Singapore Land Authority (SLA) has recently launched a tender for a group of twenty heritage bungalows in Sembawang. These properties, which have a leasehold of five years and an option for extension of four years, are up for grabs.

These two-storey black-and-white bungalows, located along Admiralty Road East, Falkland Road, Auckland Road West and Fiji Road, have a rich history dating back to the 1920s and 1930s. With a total area of 245,300 sq ft, the bungalows offer a combined estimated gross floor area of 94,945 sq ft.

The bungalows are open for lease with the purpose of being used as serviced apartments, catering to multi-generational and senior co-living concepts. F&B and retail use are also permitted, as long as the gross floor area does not exceed 9,580 sq ft. The minimum stay for a serviced apartment is one week.

In addition, SLA will evaluate bids based on a price-quality basis. The tender will close on June 11 at 11am and the award of the site is expected to be announced in October.

With the recent trend of repurposing state properties, SLA’s move to offer these heritage bungalows for lease is not surprising. Other than co-living and serviced apartments, these properties can also be utilized for pop-up events and social impact hubs, bringing a unique aspect to the area.

If you are interested in owning a piece of history and want to explore this opportunity, don’t miss the chance to submit your tender by the deadline.

Owning a Condo offers many advantages and the potential for future investments. Many investors use their condos as collateral to secure additional financing for new projects, expanding their real estate portfolio. While this strategy can lead to higher profits, it also comes with some risks. Therefore, having a well-designed financial plan is essential, and staying attentive to market changes is crucial. In essence, purchasing a condo can be a valuable opportunity for financial growth and diversification, but it demands careful evaluation and planning. Include Condo in the rewritten paragraph.…

Having a good understanding of the regulations and limitations surrounding property ownership in Singapore is crucial for foreign investors. While it may seem daunting, purchasing condos in Singapore is generally less restricted for foreigners compared to buying landed properties in the country. However, foreign buyers must still adhere to certain rules, such as paying the Additional Buyer’s Stamp Duty (ABSD), which is currently set at 20% for first-time property buyers. Despite this added expense, the stability and potential for growth in Singapore’s real estate market continue to attract foreign investment. This is evident as seen in the increasing interest from international buyers in new condo launches. For instance, the launch of New Condo Launches has garnered significant attention and investment from foreign buyers.

CapitaLand Integrated Commercial Trust (CICT) has announced changes to its board of directors, with Tan Choon Siang taking over as CEO and executive non-independent director and current CEO Tony Tan assuming the role of chief corporate officer (CCO) of CapitaLand Development. These changes will come into effect on May 1, 2025, as stated in a bourse filing on March 17.Tan Choon Siang, the current deputy CEO of CICT, will take on the role of CEO and executive non-independent director in the company. He will also be appointed as a member of the executive committee (EC) from May 1, 2025.Tony Tan, who has been serving as CEO and executive director since 2017, will step down from his current roles. He will be taking on the role of CCO at CapitaLand Development. Under his leadership, CICT successfully merged CapitaLand Mall Trust and CapitaLand Commercial Trust in 2020, creating Singapore’s largest listed REIT with a market capitalization of $15.5 billion.Tan Choon Siang has been appointed as CEO of CICT due to his extensive experience in the real estate industry. He was previously the manager of CapitaLand Malaysia Trust since 2022 and the chief financial officer of the manager of CapitaLand India Trust. He was also previously the Head of Corporate Finance & Treasury at Ascendas-Singbridge, which merged with CapitaLand in 2019.…

Keppel REIT to acquire K Tower in Seoul for $530.6 milM indicated that homegrown global asset manager and operator, Keppel, will shift its focus to other brownfield redevelopment projects after the completion of Keppel South Central. Keppel South Central, a 33-storey commercial tower, was announced to be completed by Keppel last month. The president of Keppel’s real estate division in Singapore, Samuel Ng, stated that the redevelopment of Keppel South Central is a “showpiece” for the company. Keppel South Central was previously known as the Keppel Towers and Keppel Towers 2, 27 and 13-storey office buildings respectively, completed in 1991 and 1993.Keppel reported that nearly 50% of Keppel South Central’s office and retail space is either leased or in active negotiations. An established financial services group has signed on as the first anchor tenant, leasing two whole floors. Office tenants are expected to move in from June. The building also offers retail and event spaces on the ground floor, health and wellness spaces on levels five and six, a landscaped terrace on the 18th floor and end-of-trip facilities on Basement 1.The newly renovated property has been designed to match the standards of other Grade-A offices in the Central Business District (CBD). It features facial recognition access, 5G Wi-Fi, and an indoor air-quality management system. The office space is also adaptable to accommodate modern work needs, with designated floors being fitted with micro ACUs (air conditioning units) to provide localised cooling when needed. This optimises energy usage when specific areas are occupied.Additionally, Keppel has incorporated retail and event spaces on the ground floor, wellness spaces on the second floor, and a swimming pool on the fifth floor. These amenities were not previously available in the aging Keppel Towers. They bring the building in line with the expectations of Grade-A office tenants. Ng also mentioned Keppel’s efforts to engage the community through a mobile application that allows building management to connect with users directly, allowing for events to be tailored to their interests.Keppel South Central has also been certified by BCA as a Green Mark Platinum Super Low Energy building. Keppel’s energy efficiency initiatives are expected to save 6.2 million kilowatt hours (kWh) annually – equivalent to powering 1,300 homes in Singapore. These improvements include treated external windows to minimise heat transfer into the building and a smart building management system to optimise energy usage. These same technologies were previously used at Keppel Bay Tower, which became Singapore’s first zero-energy commercial building in 2020.Keppel is focused on replicating the success of Keppel South Central in the Asia Pacific region as part of its Sustainable Urban Renewal (SUR) strategy. According to Ng, the region has a considerable number of office buildings built in the 1990s or earlier that will fail the standards for Grade-A office space unless they are upgraded. As more companies aim for entirely green-certified properties by 2030, the demand for sustainable office retrofitting will rise. In Singapore, aging office buildings are typically redeveloped to recycle prime commercial land in the CBD. Tay, Head of Research at Knight Frank Singapore, noted that the completion of projects like Keppel South Central increases the supply of fresh office space, which is limited in the core CBD area.To fund the redevelopment of brownfield projects in the region, Keppel announced the first close of its flagship Keppel Sustainable Urban Renewal Fund (KSURF), with over $2.3 billion in total funds under management. The fund will target properties across various segments, including commercial, living, life sciences, hospitality, and logistics, in Singapore, South Korea, Japan, Australia, and first-tier cities in China. As Keppel has the capability to execute renewal works in-house, the company is well-positioned to stand out from other asset managers. Keppel intends to acquire assets, complete enhancement works, stabilise occupancy, and divest them within the fund’s seven-year tenure. Keppel has already applied its SUR initiative to eight projects in five countries. Completed projects include Park Avenue Central, a mixed-use office and retail development in Shanghai; The Kube, a four-storey office building also in Shanghai, and Saigon Centre, a mixed-use office and retail development in Ho Chi Minh City. Three projects are yet to be completed, namely: Ocean Financial Centre, a 43-storey Grade-A office tower in Raffles Place; Inno88 Tower, a 367,210 sq ft office building in Seoul; and Kohinoor, a 1.1 million sq ft office block in Maharashtra, India.

Investing in a condo is a top choice for many investors in Singapore, both locals and foreigners alike. This trend is not surprising, given the country’s strong economy, political stability, and exceptional quality of life. The real estate market in Singapore is teeming with opportunities, and among them, condos stand out as a highly desirable option due to their convenience, amenities, and potential for high returns. In this article, we will delve into the advantages, considerations, and essential steps to take when investing in a condo in Singapore.…

SRI’s upcoming auction on March 15 will feature a 99-year leasehold semi-detached house with a guide price of $3.65 million. The property, located in the popular Kew Heights area of District 16, occupies a 3,034 sq ft corner plot. The land rate for this property is $1,203 psf, making it a highly sought-after investment opportunity.

This mortgagee sale marks the first time that the property will be offered for auction. Interested buyers will have the chance to acquire the property with vacant possession. The three-storey house has a total floor area of 4,436 sq ft, and is equipped with six bedrooms, a family area, and a storeroom. It also includes a car porch and backyard area.

The ground level features a spacious living hall with a double-volume ceiling, an adjoining dining area, a well-equipped kitchen, and a helper’s room. According to Mok Sze Sze, the managing partner of auctions and sales at SRI, potential buyers can easily convert some of the open areas into additional bedrooms, making this property perfect for extended or multi-generational families.

Furthermore, the guide price for this property offers great value, with a land rate of $1,203 psf being one of the lowest in the area. Records from URA show that the property was last sold in November 2021 for $3.19 million ($1,051 psf). In the past year, two other similar 99-year leasehold properties in the Kew Vale estate have been sold, including a three-storey semi-detached house along Kew Heights for $3.35 million, and a three-storey terraced house along Kew Drive for $3.26 million.

It is worth noting that the prices of 99-year leasehold properties in the Kew Vale estate have been on the rise in recent years. Seven semi-detached houses were sold in 2023 and 2024 at an average land rate of $1,213 psf, compared to the average of $1,002 psf across seven transactions between 2021 and 2022.

The property’s location in Kew Vale offers easy access to major motorways such as East Coast Parkway (ECP) via Bayshore Road, and will also be served by the upcoming Bedok South MRT Station along the Thompson-East Coast Line, scheduled to open in the second half of 2026. Families with school-going children will also benefit from the proximity to reputable schools such as Temasek Primary and Secondary Schools, Bedok South Secondary, and Bedok View Secondary.

Investing in Singapore as a foreigner requires a thorough understanding of the country’s property ownership regulations. The policies for owning landed properties are stringent, but purchasing condos is generally more feasible for foreign investors. However, they must still abide by the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for first-time buyers. Despite this additional expense, Singapore’s real estate market continues to be an appealing choice for foreign buyers, thanks to its stability and potential for growth, especially in the condominium sector. Therefore, for those interested in investing in Singapore’s real estate market, condos present a lucrative opportunity worth considering.

Don’t miss this opportunity to own a highly sought-after property in the popular Kew Vale estate. Check out the latest listings for Kew Vale properties and compare sale transactions. You can also use Ask Buddy to get more information on the property, or view sale transactions and price trends in the area.…

The recent sale of a penthouse at The Trizon, a 289-unit condo located on Ridgewood Close, was the highlight of the week from Feb 25 to March 4. The unit, which measures 5,737 sq ft and is situated on the 23rd floor, was sold for $9.76 million ($1,701 psf) on Feb 27. This sale marks the most profitable resale transaction at the condo during the stated period.

The unit was previously bought for $6.55 million ($1,142 psf) in March 2016, which means that the seller earned a profit of $3.2 million (49%). This translates to an annualized gain of 4.5% over nine years. This also makes the sale the second most profitable resale transaction at The Trizon to date.

The record for the most profitable resale transaction at The Trizon was set two years ago in August 2023, when a penthouse measuring 7,083 sq ft was sold for $11 million ($1,553 psf). The previous owner had bought the unit for $7.1 million ($1,002 psf) in November 2019, resulting in a record profit of $3.9 million (55%). This also translates to an annualized gain of 12% over close to four years.

The Trizon is a prime freehold development located in District 10. It is situated close to the Mount Sinai landed enclave, as well as the private residential estates of Pandan Valley and Pine Grove. Other nearby private residential developments include Pandan Valley and two new 99-year leasehold projects, namely the 520-unit Pinetree Hill and the 552-unit Nava Grove.Read also: Sale of Yong An Park penthouse rakes in $6.5 mil profitAdvertisementThe sale of the penthouse at The Trizon on Feb 27 resulted in a profit of $3.2 million for the seller (Picture: Samuel Isaac Chua/)The Trizon offers a variety of two- to five-bedroom units, with typical sizes ranging from 1,012 sq ft to 5,102 sq ft. Meanwhile, penthouses measure between 5,328 sq ft and 7,083 sq ft. According to data from EdgeProp Singapore, the average resale price at The Trizon is about $2,017 psf. Comparatively, the average price at nearby Pandan Valley, a sprawling 605-unit development, stands at $1,449 psf. Meanwhile, the average price at Ridgewood, a 999-year leasehold development comprising 425 condo units and 38 landed units, is $1,728 psf.

Pinetree Hill, which was launched for sale in July 2023, has seen units sold this year at an average price of $2,550 psf. This is compared to an average price of $2,458 psf from its launch till the end of 2024, based on caveats lodged. The 520-unit development is currently about 78% sold. Similarly, the 552-unit Nava Grove, which was launched in November last year, is approximately 75% sold, with an average selling price of $2,460 psf.

Another notable sale that took place during the week was that of a 1,442 sq ft unit at Haig Court on Feb 27. The three-bedroom unit on the third floor transacted for $2.84 million ($1,968 psf). However, records show that it was previously sold for just $798,868 ($554 psf) back in 2005. As a result, the seller earned a profit of $2.04 million ($255%), which translates to an annualized gain of 6.8% over a period of 19 years.

Haig Court is a freehold development comprising 360 units, and is located on Haig Road in District 15. Completed in 2004, the condo is centrally located in Marine Parade and is close to shopping malls such as Katong Shopping Centre, Roxy Square and I12 Katong. It is also situated near several well-known schools in the area, such as Chung Cheng High School, Tanjong Katong Girls’ School, Tanjong Katong Secondary School, and the Tanjong Katong campus of the Canadian International School.

Haig Court is situated right next to two new 99-year leasehold private residential projects — the 846-unit Emerald of Katong and the 638-unit Tembusu Grand. Other new projects in the vicinity include The Continuum, an 816-unit freehold development on Thiam Siew Avenue, and Grand Dunman, a 1,008-unit 99-year leasehold project on Dunman Road.Read also: Four-bedroom unit at Mandarin Gardens reaps $3.83 mil profitAdvertisementAdvertisementLast year, Haig Court recorded eight resale transactions, which ranged from the sale of a 1,076 sq ft two-bedder for $1.85 million ($1,719 psf) on Jan 16, to the sale of a 1,550 sq ft four-bedroom unit for $3.45 million ($2,226 psf) on Dec 19. Profits from the resale transactions last year ranged from $450,000 to $2.06 million.

So far this year, there have been two resale transactions at Haig Court. The other sale was a 1,453 sq ft unit that was sold for $3.02 million ($2,078 psf) on Jan 17. This means that the seller earned a profit of $2.13 million.

On the other hand, the most unprofitable resale that happened during the week of Feb 25 to March 4 took place at Orchard Scotts. On Feb 25, a 2,228 sq ft unit was sold for $3.78 million ($1,696 psf). However, caveats show that the unit was previously bought for $4.35 million ($1,955 psf) in 2010. This resulted in a loss of $576,000 (13%) for the seller, which translates to an annualized loss of 1% over a period of almost 15 years.

Investing in a condo has various advantages, one of which is the opportunity to leverage the property’s value for future investments. A considerable number of investors utilize their condos as security to secure additional financing for new ventures, thereby diversifying their real estate portfolio. While this approach can potentially increase returns, it also carries a certain level of risk. Thus, it is important to have a well-thought-out financial plan and carefully evaluate the possible effects of market fluctuations. With the added option of investing in a condo, investors have the potential to further enhance their real estate investments.

Based on the compiled resale caveats for Orchard Scotts, the resale price at the condo has been declining in recent years. In March 2010, units were typically sold for around $2,061 psf. However, this has since fallen to $1,747 psf as of March 2020. More recently, there has been a slight uptick in average resale prices, which currently stand at around $1,760 psf.

Orchard Scotts, a 99-year leasehold condo situated on Anthony Road in District 9, was completed in 2008. It comprises 387 units, ranging from two- to five-bedroom units with sizes of 936 sq ft to 4,435 sq ft.…