The Government Land Sale (GLS) site at Tengah Gardens Avenue recently closed its tender on Jan 14, receiving three bids. The top bid of $675 million, or $821 per square foot per plot ratio (psf ppr), was submitted by a consortium led by Hong Leong, including GuocoLand Singapore and CSC Land Group.

The 99-year leasehold site is zoned for “Residential with Commercial at 1st storey” and measures approximately 273,906 sq ft with a maximum gross floor area (GFA) of 821,720 sq ft. According to URA, the site has a potential to yield up to 860 residential units.

If awarded, the Hong Leong-led consortium plans to build an 860-unit condominium, taking advantage of the upcoming Jurong Region Line (JRL) which will enhance connectivity in the area. Loke Kee Yeu, general manager (Projects) at Hong Leong Holdings Limited, believes that the JRL will contribute to the development of the new Tengah estate.

The Tengah Gardens Avenue site is strategically located near the upcoming Hong Kah MRT Station on the JRL. It is only one stop away from the upcoming Tengah Town Centre and offers direct access to the second Central Business District (CBD) at Jurong Lake District.

Despite the accelerated homebuyer activity seen in the latter part of 2024, developers remain cautious in their sentiments, according to Leonard Tay, head of research at Knight Frank Singapore. Another GLS site at Dairy Farm Walk also closed its tender on Jan 14, receiving only two bids.

Tay believes that developers may have focused on existing sites that are scheduled for launch in 2025. He also points out that the tight bid price spread between the three bids (less than 1%) suggests that developers are being more conservative in their bids.

Mark Yip, CEO of Huttons Asia, also notes that developers are mindful of keeping their land bids reasonable to maintain an attractive selling quantum for buyers. He predicts that more developers will opt for joint bids for GLS sites this year to diversify risk, which could be a reason for the consistently low number of bids seen in GLS tenders.

In Singapore, it is crucial for international investors to have a thorough understanding of the regulations and limitations surrounding property ownership. Unlike landed properties with stricter ownership regulations, foreigners are typically allowed to purchase condominiums with fewer restrictions. However, they are still subject to the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for their initial property purchase. Despite this additional expense, the consistent stability and potential for growth in the Singapore real estate market continue to attract foreign investment. Singapore Projects are among the top options for foreign investors looking to enter the market.

According to Marcus Chu, CEO of ERA, another factor contributing to the low number of bids could be the current availability of GLS sites. With seven sites still open for tender and six more to launch in the first half of 2025, developers may be taking a cautious approach and weighing their options amidst moderated interest rates.

Interest in the Tengah Gardens Avenue site may also have been tempered by the availability of another nearby GLS site, notes Justin Quek, CEO of OrangeTee & Tie. He suggests that developers may be considering bidding on a different GLS site along Lakeside Drive and Lakeside MRT, which is scheduled to launch for tender in April 2025.

If awarded, the Tengah Gardens Avenue site will be the first private residential site (excluding Executive Condominiums) in the Tengah HDB township. The first EC project in the estate, Copen Grand, was launched in 2022 and sold out in a month. The winning bid of $400.32 million, or $603 psf ppr, was submitted by joint developers City Developments Ltd (CDL) and MCL Land in May 2021.

The opportunity to launch the first private condominium in the new Tengah estate may have attracted the Hong Leong-led consortium, says ERA’s Chu. He believes that the consortium may see this as an opportunity to replicate their successes in other sites, such as Lentor, Upper Thomson, and Bugis, in Tengah.

As the first private condo, the development could potentially attract a wider range of buyers compared to ECs, which are subject to HDB eligibility criteria and restrictions such as a five-year minimum occupation period (MOP) and a monthly household income ceiling of $16,000. Mohan Sandrasegeran, head of research & data analytics at SRI, believes that the site’s proximity to the future Anglo-Chinese School (Primary) within 2km may also be attractive to families with school-aged children.

If the site is awarded at the top bid of $821 psf ppr, PropNex estimates that the average selling price of the new private condo could be around $2,000 psf. Overall, with the positive performance seen in the real estate market in the past year, developers may continue to cautiously bid for GLS sites, considering factors such as the current supply of sites and moderated interest rates.…

A rare opportunity has emerged for investors in the hospitality sector in Singapore. A freehold 15 loft-room hotel, situated at 739-1 Geylang Road in District 14, is now available for sale at a price of $14 million. This two-storey property, with a newly constructed 4-storey rear extension, occupies a 1,273 sq ft site and boasts an approved gross floor area (GFA) of up to 3,186 sq ft.

What makes this hotel stand out is its permanent ‘Hotel’ zoning and usage approval. This rare and highly sought-after designation for new conservation shophouses conversion in Singapore enhances the property’s long-term investment appeal and allows for operational flexibility. Its prime location, just a 5-minute walk from Paya Lebar MRT station, also offers unbeatable connectivity. Paya Lebar MRT is a dual-line station, serving both the East-West line and Circle line, providing guests with seamless access to various parts of Singapore.

The hotel, designed with a sophisticated Japandi theme, is currently under construction and is set to receive its Temporary Occupation Permit (TOP) in Q2 2025. The sale price is all-inclusive, covering all construction and renovation costs, ensuring that the property is ready for immediate operation upon purchase. This presents an excellent turnkey investment opportunity for those looking to enter or expand their presence in the hospitality sector.

The cityscape of Singapore is characterized by towering skyscrapers and state-of-the-art infrastructure. Condominiums, strategically situated in desirable locations, offer a fusion of opulence and convenience that appeals to both locals and foreigners. These residences are equipped with a variety of facilities, including swimming pools, fitness centers, and security measures, elevating the standard of living and making them a sought-after choice for prospective renters and owners. For investors, these amenities equate to higher rental profits and an appreciation in property value over time. As such, Singapore Condo becomes a highly coveted investment opportunity.

For investors, there is an added advantage as the current owner, an experienced hotel operator, is open to a sale and leaseback arrangement. This offers the opportunity for immediate rental income and operational continuity. Eva Lau, Senior Marketing Director of ERA Realty Network Pte. Ltd., expects the hotel to attract owner-operators as the major renovations will allow for a quick and seamless commencement of operations.

In the past year, there has been a steady increase in demand for hospitality assets in Singapore. Notable recent transactions include LHN Group’s acquisition of Pasir Panjang Inn, a 16,626 sq ft site, for $30 million. Additionally, last year, an 8-storey hotel at 12 Lorong 12 Geylang was listed for sale at $120 million, and Hotel JJH, a 25-room property at 747 North Bridge Road, is now on the market for $38 million. These transactions highlight the high demand for well-located, high-quality hospitality assets, which are considered one of the most desirable commercial shophouse usage classes in Singapore.

For more information, please contact Eva Lau at 92785688, Senior Marketing Director (R062169F) of ERA Realty Network Pte Ltd.…

Singapore has emerged as a top destination for real estate investors, both local and foreign, and investing in a condo has become a popular choice. This is largely due to the country’s strong economy, stable political climate, and unparalleled standard of living. With a flourishing real estate market, Singapore offers a plethora of opportunities for investors, and condos are particularly attractive for their convenience, amenities, and potential for high returns. Let us delve deeper into the advantages, considerations, and necessary steps involved in investing in a Singapore Condo.

JLL, a real estate consulting firm, has recently announced the appointment of James Cameron as the head of energy and infrastructure for Asia Pacific in their capital markets business line. This newly created position will be based in Singapore, as stated in a press release on January 14.

Cameron will be responsible for establishing a team in the Asia Pacific region. His role will complement JLL’s existing Energy & Infrastructure business in EMEA, creating a global capital advisory capability to better serve local and international developers and investors.

According to JLL, Cameron’s appointment aligns with the long-term capital needs for infrastructure and renewables projects in order to meet the challenges of decarbonisation, digitalisation, economic growth, and rapid urbanisation.

Stuart Crow, JLL’s CEO of capital markets in Asia Pacific, says, “We see a great opportunity to leverage our unique expertise in mobilising multiple sources of capital and JLL’s unrivalled track record in advising on renewables transactions globally to serve clients in the energy and infrastructure sector across Asia Pacific.”

Cameron will work closely with JLL’s capital markets, investment banking, and debt advisory teams across the region with a focus on originating capital raising and transaction advisory opportunities for large infrastructure and renewable energy deals for institutional investors, private equity, asset managers, strategic infrastructure and renewable energy operators and developers, high net-worth individuals, and family offices.

With over 25 years of experience in real asset capital markets, Cameron previously held the position of global head of commercial real estate at Standard Chartered Bank. He has a wealth of experience in mobilising both private and public equity and financing for infrastructure projects globally and regionally.

Crow adds, “James’ experience in this exciting space is unparalleled in the region, and we have great confidence in his ability to establish JLL’s leadership position through his expertise and client relationships.”

In other news, JLL reports a 40% increase in capital market deals in 2024, boosted by recent interest rate cuts. Additionally, CDL, a leading real estate developer, has announced plans to divest its freehold strata units at Cititech Industrial Building and Citilink Warehouse Complex for a total of $149 million. Furthermore, a recent survey by JLL reveals that about 80% of occupiers in Singapore are targeting 100% green-certified portfolios by 2030.…

The two adjacent Good Class Bungalows (GCBs) located at 52 and 54 Belmont Road in the Belmont Park GCB area are currently available for purchase through an expression of interest (EOI). The owners of the GCBs are believed to be family members, and these freehold properties together cover a land area of 41,741 square feet. The indicative price for the properties is $88.8 million, which comes out to approximately $2,128 per square foot on the land area. According to marketing agent Sakal Real Estate Partners, the combined plots have a 44-meter frontage along Belmont Road and an average depth of 66 meters.

Securing financing is a crucial component of investing in a condo. With various mortgage options available in Singapore, it is crucial for investors to be mindful of the Total Debt Servicing Ratio (TDSR) framework. This framework sets a cap on the amount of loan an individual can take based on their income and current debt commitments. It is essential for investors to familiarize themselves with the TDSR and seek guidance from financial advisors or mortgage brokers to make well-informed decisions regarding their financing. This not only helps in avoiding over-leveraging but also enables investors to explore opportunities from new condo launches.

“We believe this site would be attractive to families looking to build a new home for multigenerational living or extended families living together,” says Lennon Koh, senior director at Sakal. “In addition to homeowners, this property would also be suitable for developers looking to enter the exclusive GCB market.” Based on data from the Urban Redevelopment Authority (URA), the most recent transaction on Belmont Road occurred in December of last year, when a GCB covering a land area of 19,549 square feet was sold for $40 million (equivalent to $2,046 per square foot).

Sakal also notes that in July of 2024, a pair of adjacent GCB plots on Belmont Road were sold for $131.4 million, or $3,000 per square foot based on the combined land area of 43,790 square feet. Nearby, a GCB at Bin Tong Park with a land area of 28,111 square feet was sold for $84 million (equivalent to $2,988 per square foot) in April. Steven Ming, managing director at Sakal, believes that the Belmont Road GCBs will attract strong interest due to their prime location and the resilient demand for GCBs. “In 2024, the total value of GCB transactions was estimated at $1.32 billion, surpassing the values of 2023 ($433 million) and 2022 ($1.18 billion), and we anticipate even more transactions in 2025,” he says.

Interested parties can place their bids for the GCBs through the EOI exercise, which will close on March 13 at 3pm.…

Real estate consulting firm JLL has recently announced the appointment of James Cameron as its new head of energy and infrastructure for the Asia Pacific region. This role has been created to support JLL’s capital markets business line and will be based in Singapore, according to the press release issued on Jan 14.

Cameron will be responsible for establishing and leading a team in the Asia Pacific region, in line with JLL’s long-term capital requirements. This appointment will complement the existing EMEA Energy & Infrastructure business and create a global capital advisory capability to better serve the needs of both local and international developers and investors.

The decision to appoint Cameron reflects the growing demand for capital to support the development of essential infrastructure and renewable energy projects, in order to meet the challenges of decarbonisation, digitalisation, economic growth, and rapid urbanisation.

When considering investing in condos in Singapore, it is important to take into account the government’s property cooling measures. Over the years, the Singaporean government has implemented various measures in order to control speculative buying and maintain a steady real estate market. These measures, such as the Additional Buyer’s Stamp Duty (ABSD), impose higher taxes on foreign buyers and those purchasing multiple properties. While these measures may initially affect the short-term profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a more secure investment environment. It is worth noting that there are new condo launches available for those interested in investing. New condo launches provide opportunities for potential investors to enter the market and benefit from the long-term stability and growth of Singapore’s real estate market.

JLL Asia Pacific’s CEO of capital markets, Stuart Crow, commented on Cameron’s appointment, saying, “We see significant opportunity to leverage our unique expertise in mobilising multiple sources of capital and JLL’s unrivalled track record in advising renewables transactions globally to serve clients within energy and infrastructure across Asia Pacific.”

In his new role, Cameron will work closely with JLL’s capital markets, investment banking, and debt advisory teams across the region, with a focus on identifying capital raising and transaction advisory opportunities for large infrastructure and renewable energy projects. These opportunities will serve a variety of clients, including institutional investors, private equity firms, asset managers, strategic infrastructure and renewable operators and developers, high net-worth individuals, and family offices.

With over 25 years of experience in real asset capital markets, Cameron brings a wealth of knowledge and expertise to his new position. He previously served as the global head of commercial real estate at Standard Chartered Bank and has a proven track record in mobilising private and public equity and financing for infrastructure projects on a global and regional scale.

Crow expressed his confidence in Cameron’s ability to establish JLL’s leadership position in this exciting and rapidly evolving sector, saying, “James’ experience in this space is unmatched regionally, and we’re extremely confident in his ability to establish JLL’s leadership position through his expertise and client relationships.”…

Over the weekend of January 11th and 12th, One Bernam, a mixed-use development in Tanjong Pagar, offered promotional prices for 87 of its 351 residential units. The project, a joint venture between MCC Land and Hao Yuan Investment, was first launched in May of 2021 and is set to be completed in March of 2026. The 99-year leasehold tower has seen strong sales since its launch, with over 75% of its units already sold at an average price of $2,585 per square foot.

The promotional prices applied to all remaining 87 units, including one- to three-bedroom apartments and penthouses. One-bedroom units ranging from 441 square feet to 463 square feet saw discounts of $323,000 to $438,000, with prices ranging from $1.295 million to $1.328 million. Two-bedroom units of 700 to 732 square feet had discounts of $437,000 to $668,000, with prices from $1.752 million to $1.78 million. Two-bedroom plus study apartments, ranging from 807 to 872 square feet, had discounts of $380,000 to $800,000 and were sold at prices from $2.139 million to $2.158 million. Three-bedroom units of 1,421 square feet had discounts of $616,000 to $830,000, with prices from $3.496 million to $3.526 million.

According to ERA Singapore CEO Marcus Chu, the strong sales performance reflects the property’s appeal as a stable and high-potential asset. He notes that 78% of buyers purchased units as investments, with 87% being Singaporean and 70% between the ages of 31 and 50. Following the overwhelming response over the weekend, only three penthouses remain for sale, bringing the total sales to 99%. These include two three-bedroom units of 1,744 and 1,948 square feet, and a five-bedroom unit of 4,306 square feet.

Investing in a condo in Singapore presents a compelling opportunity with several advantages. Firstly, condos in this country are in high demand, making them a sought-after investment option. They are also known for their potential for capital appreciation, which can lead to significant returns for investors in the long run. Additionally, Singapore’s condo market offers attractive rental yields, making it a lucrative choice for those looking to generate passive income.

However, before making a decision, it is crucial to carefully consider various factors that can impact the success of your investment. Location plays a significant role in the condo market, and it is essential to choose a desirable and well-connected area that will attract tenants and potential buyers. Financing options should also be thoroughly evaluated, as they can affect the overall cost and potential profits of the investment.

Furthermore, the Singaporean government has strict regulations in place for the real estate market, and investors need to be aware of them before making a purchase. It is advisable to seek professional advice from a real estate agent or lawyer to ensure compliance with all necessary regulations.

Finally, market conditions should always be taken into account when considering a condo investment. As with any investment, there are risks involved, and it is crucial to conduct thorough research and stay updated on current market trends to make informed decisions.

In conclusion, investing in a condo in Singapore offers a promising opportunity for both local and foreign investors. However, it is crucial to carefully consider all relevant factors, conduct thorough research, and seek professional advice before making a decision. With the dynamic and prosperous real estate market in Singapore, a well-chosen condo investment can provide attractive returns for years to come.

With the project set to obtain its Temporary Occupation Permit (TOP) in March of 2026, investors can expect to start generating rental income, which can support loan payments, according to Chu. Existing condos in the area, such as Altez, 76 Shenton, and Eon Shenton, are currently fetching monthly rents in the range of $6.90 to $7.40 per square foot. This makes One Bernam a desirable and stable investment choice, especially with the reduced competition from foreign buyers due to the hike of Additional Buyer’s Stamp Duty (ABSD) in 2023. Local demand is expected to continue driving the market for properties in the Central Core Region (CCR) due to competitive pricing.…

The Real Estate Developers’ Association of Singapore (Redas) has recently chosen its management committee for the next two years. During the Annual General Meeting held on January 9, all members unanimously voted to re-elect Tan Swee Yiow, the Chairman of Keppel Reit Management, as the President. This marks Tan’s second term in the position.

Tan expressed his gratitude for being re-elected and stated that the new management committee is a representation of the industry’s diverse sectors, scales, and expertise. The new committee consists of Immediate Past President Chia Ngiang Hong, Group General Manager of City Developments; First Vice President Kwee Ker Wei, Director of Pontiac Land Group; Second Vice President Marc Boey, Executive Director of Project Services at Far East Organization; Honorary Secretary Chong Hock Chang, Group Director of Projects and Marketing at Ho Bee Land; Honorary Treasurer Neo Soon Hup, COO of UOL Group; Honorary Assistant Secretary Chew Peet Mun, Managing Director of Investment and Development at CapitaLand Development Singapore; and Honorary Assistant Treasurer Tho Leong Chye, Managing Director of Allgreen Properties.

When it comes to investing in a Singapore Condo, securing financing is a crucial aspect to consider. Fortunately, there are various mortgage options available in Singapore. However, it is important for investors to be mindful of the Total Debt Servicing Ratio (TDSR) framework. This limits the amount of loan that a borrower can take on, taking into account their income and current debts. Being well-informed about the TDSR and seeking advice from financial advisors or mortgage brokers can assist investors in making wise decisions about their financing and avoiding the risks of over-leveraging.

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In addition to the new committee, Redas also honoured Chia Ngiang Hong with the Lifetime Achievement Award in celebration of its 65th anniversary.

Chia Ngiang Hong, the Immediate Past President of Redas, extended his congratulations to the new management committee and commended Tan for his exceptional leadership and the trust placed in him by the Redas community.

Tan expressed that the diverse 2025/2026 Redas management committee is well-equipped to drive initiatives that will have a positive impact on the overall built environment ecosystem.

In other related news, topics such as the implementation of ESG, green premiums, and streamlined road approval processes for developers were discussed at the recent RICS-REDAS conference. Some developers also suggested a separate land zoning to meet the projected demand for senior accommodation in Singapore.…

Profitable Resale Transaction at The Arcadia, Prime District 11

The Arcadia in prime District 11 saw a highly profitable resale transaction take place in the final weeks of 2024. The unit, a luxurious four-bedroom apartment spanning 3,767 square feet, was sold for a staggering $3.25 million in profit, making it the most profitable resale transaction in the area during the period of Dec 10 to Dec 31. The seventh floor unit was purchased in 1998 for $1.5 million and was sold for $4.75 million on December 10, resulting in a 217% profit. This translates to an annualized profit of 4.5% over a period of 26 years.

Investing in a condominium in Singapore presents a multitude of benefits, making it a desirable option for individuals looking to invest in real estate. With factors such as a consistently high demand, potential for significant appreciation in value, and attractive rental yields, it’s no surprise that many investors are drawn to this market. However, before making any decisions, it is crucial to consider various factors that can impact the success of your investment, including location, financing options, government regulations, and overall market conditions. By conducting thorough research and seeking professional guidance, investors can make sound decisions and capitalize on Singapore’s dynamic real estate landscape.

One of the key advantages of investing in a condo in Singapore is the high demand for this type of property. Due to the limited land availability on the island, condos are in high demand, which creates a level of exclusivity and desirability. As a result, investors have a higher chance of finding tenants quickly and achieving attractive rental yields.

Moreover, a condo investment in Singapore also has the potential for significant appreciation in value over time. With the city’s continuous economic growth and development, properties in prime locations are highly sought after and can see a substantial increase in value. This provides investors with a great opportunity for long-term capital appreciation on their investment.

However, before diving into any investment, it’s essential to carefully consider crucial factors such as location, financing options, and government regulations. Choosing the right location is crucial in determining the success of your investment, as it can impact rental demand and appreciation potential. Additionally, understanding the financing options available and government regulations is essential to ensure a smooth and compliant investment process.

Lastly, it’s crucial to stay updated on the current market conditions and seek professional advice when making investment decisions. As the real estate market in Singapore is constantly evolving, investors must stay informed on trends and changes that may impact their investments.

In conclusion, the prospect of investing in a condo in Singapore is a compelling opportunity for both local and foreign investors. With its high demand, potential for capital appreciation, and attractive rental yields, it’s a desirable market for individuals looking to diversify their portfolio. However, it’s crucial to carefully consider all the relevant factors and seek professional guidance to make informed decisions and maximize returns. To stay up-to-date on new condo launches and opportunities, investors can look into New Condo Launches and stay ahead in the dynamic real estate market of Singapore.

The Arcadia, a 164-unit, 99-year leasehold development completed in 1983, is nestled in the upscale Arcadia Road vicinity surrounded by landed estates and Good Class Bungalows. The property boasts top schools like Raffles Girls Primary School, Hwa Chong Institution and National Junior College in close proximity. The 3,767 sq ft unit on the seventh floor is one of five units ranging from 3,714 sq ft to 3,821 sq ft that changed hands in the area in the last year. Out of these, the most profitable resale was that of a 3,778 sq ft unit on the fourth floor, which sold for $4.6 million ($1,218 psf) on October 10, 2024, resulting in a $60,000 profit for the seller.

The record for the most profitable resale at The Arcadia, however, was set back in 2010 when a 7,503 sq ft penthouse on the 10th floor was sold for $10 million ($1,333 psf). This unit, which was purchased in 2007 for $5.5 million ($733 psf), yielded a profit of $4.5 million (81%), an annualized rate of 19% over a three-year period.

Another prime residential development, Tanglin Hill Meadows, saw a highly profitable resale transaction take place on December 10, 2024. The unit, a three-bedroom apartment covering 2,077 square feet, was sold for $2.7 million profit, the most profitable resale to date at the property. Located in the prestigious Good Class Bungalow area at Tanglin Hill, the 20-unit, freehold condo boasts impressive facilities, and is within close proximity to Ridley Park. This resale transaction fetched $4.5 million ($2,166 psf) for the seller, who had purchased the unit for $1.8 million ($866 psf) in 1999. This translates to an annualized profit of 3.6% over 26 years.

The second most profitable resale transaction within this period was that of a 2,002 sq ft unit at Tanglin Hill Meadows, which sold for $3.73 million ($1,863 psf) in 2010. This yielded a profit of $2.28 million (157%) for the seller, achieving an annualized gain of 21% over a five-year period. The second most profitable resale transaction, however, fared much better, with a profit of $2.7 million (150%), resulting in an annualized gain of 3.6% over 26 years.

In contrast to these highly successful resale transactions, the seller of a 2,174 sq ft unit at Seascape, a 99-year leasehold condo in Sentosa Cove, incurred a loss of $1.97 million (33%) when the unit was sold on December 18, 2024. This three-bedroom unit sold for $3.98 million ($1,830 psf), after being purchased for $5.95 million ($2,736 psf) in 2011. This translates to an annualized loss of 2.5% over a period of 13 years.

The year 2024 saw three resale transactions take place at Seascape, all of which incurred losses ranging from $1.75 million to $2.53 million. The second largest loss incurred at this property was that of a 2,680 sq ft unit which sold for $4.5 million ($1,679 psf) on August 14, 2024. The seller of this unit incurred a loss of $2.53 million (81%), achieving an annualized loss of about 30% over a 13-year period.

Completed in 2012, Seascape offers 151 units fronting the serene South China Sea. The development boasts spacious three and four-bedroom units spanning 2,164 sq ft to 4,069 sq ft. It also offers opulent penthouses, ranging from 3,380 to 4,252 sq ft, and sky villas, with floor areas from 6,631 to 9,666 sq ft.…

A luxurious Good Class Bungalow at Victoria Park has recently become available on the market, with an asking price of $61 million. The seven-bedroom bungalow was finished three years ago and is located at the end of Victoria Close, a quiet cul-de-sac with just 10 other houses.

According to Jervis Ng, associate group district director at PropNex Realty and the agent responsible for the sale of this GCB, the number of houses in this exclusive enclave can only be increased by dividing up larger plots of more than 30,000 sq ft, in accordance with planning guidelines. Ng, who also founded JNA Real Estate, a property team under PropNex, explains that this means the exclusivity and privacy enjoyed by the GCBs along Victoria Park Close will be preserved, a priority that many ultra-high-net-worth individuals and their families are willing to pay a premium for.

“In recent months, we have seen the return of new naturalized Singaporeans into the GCB market, and this has improved buying sentiment,” Ng adds. He believes that this GCB will appeal to newly minted Singaporeans who grew up in countries such as China, India, or Indonesia, and are looking for a prestigious home here.

The Victoria Park GCB area boasts a number of illustrious residents, including Jack Ma, Chinese business magnate and co-founder of Alibaba Group, and Tang Wee Kit, a descendant of the Tang family known for founding Tangs department store.

The GCB currently for sale has been meticulously maintained, giving it a nearly new appearance, says Ng. The property’s contemporary interior design features premium quality materials and finishes.

Ng also mentions that the property is situated on a 18,988 sq ft plot and the owners worked closely with the architect to maximize the use of the land area. The GCB has a total built-up area of 25,300 sq ft, which includes seven en suite bedrooms, three helpers’ rooms, and a basement carpark with space for up to seven cars. The basement level also boasts an entertainment room designed as a home cinema, which can easily be converted into a guest room if needed. Other highlights include a private gym and a 20m lap pool.

Perched on a hilltop, the GCB offers spectacular views of the low-rise neighbourhood, according to Ng. The living room offers ample space to accommodate large families, and the property also features a bar counter with seating for entertaining guests.

In the past few years, resale transactions in the Victoria Park GCB area have been relatively rare. According to property records, the site of the GCB currently for sale was purchased for $18.2 million in September 2016, which equates to a land rate of $959 psf. The most recent transaction along Victoria Park Close was for a 15,253 sq ft plot that was sold for $28.33 million in May 2021, at a land rate of $1,857 psf. Prior to that, a 29,956 sq ft plot was sold for $40 million ($1,335 psf) in April 2017. Along Victoria Park Road, the last recorded GCB sale was for a 32,077 sq ft site that changed hands for $48 million ($1,496 psf) in November 2011.

The decision to invest in a condominium in Singapore is a strategic move, offering a plethora of benefits, with one of the most prominent being the potential for capital appreciation. This is largely attributed to Singapore’s advantageous position as a leading global business hub and its strong economic foundations, which continuously drive the demand for real estate. It is no surprise that property prices in Singapore have been consistently rising over the years, with prime condos experiencing significant appreciation. Investors who enter the market at the right time and hold onto their properties for the long term can expect substantial capital gains. Furthermore, the continuous introduction of new condo launches in the market presents even more opportunities for investors to capitalize on the potential for capital appreciation in the Singaporean real estate scene. These new developments offer modern and luxurious living options in highly sought-after locations, further enhancing the potential for significant returns on investment. Keep up with the latest new condo launches by visiting New Condo Launches for more information.

According to Ng, stabilizing factors such as anticipated lower interest rates, sustained demand from ultra-high-net-worth buyers, and the limited supply of GCBs are expected to drive transaction activity in the GCB market this year. He predicts that GCB transaction volume will increase by 10% to 15% from last year, assuming there are no major external economic disruptions. In 2020, there were approximately 35 GCB transactions that generated a total transaction volume of $1.32 billion, significantly higher than the previous record of $1.186 billion achieved in 2019.…

ETC, a well-known local real estate advisory firm, has recently undergone a rebranding exercise and has officially changed its name to ETC. This change is effective immediately and is accompanied by a new and improved logo.

According to Desmond Sim, CEO of ETC, the abbreviation ETC has always been a familiar term among their clients and staff. The decision to officially adopt this as their new name was driven by their employees, highlighting the company’s commitment to valuing their insights, voices, and ideas.

Sim also emphasized that their new identity represents their progress as one united ETC, and showcases their determination to shape the future of real estate, both locally and regionally.

This rebranding comes as ETC celebrates its 30th anniversary. Established in 1995, ETC offers a wide range of services, encompassing all stages of a real estate asset’s lifecycle, from advisory and investment to management and divestment.

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A significant benefit of choosing to invest in a Singapore Condo is the potential for exponential growth in value. Thanks to its advantageous position as a global business center and robust economic foundations, Singapore constantly attracts a high demand for real estate. As a result, the property market in Singapore has displayed a consistent upward trajectory, especially for condos situated in prime locations. By purchasing a condo at the opportune moment and holding onto it for the long haul, investors can reap significant profits from capital appreciation. Therefore, considering a Singapore Condo as an investment option can yield promising gains for the future.

In parallel with the rebranding, ETC has also recently completed a $5 million renovation project for Marina Bay Residences. This revamp is aimed at enhancing the living experience for residents and providing value through premium rents.

Other notable real estate transactions by ETC include the sale of three food-factory units at Pandan Loop for $11 million and the sale of Noel Building on Tai Seng for $81.18 million, which was 17% above the guide price. ETC was also involved in the sale of industrial GS Building in Balestier for $67 million.

Overall, the rebranding of ETC demonstrates the company’s commitment to constantly evolving and improving, while also staying true to its core values and employees.…