Month: November 2024

Singapore has emerged as a top destination for real estate investment, attracting both domestic and international investors. The country’s strong economy, stable political climate, and excellent quality of life make it a promising market for real estate. In particular, the condo sector has gained immense popularity due to its convenience, facilities, and potential for lucrative returns. If you are considering investing in Singapore’s real estate market, this article will delve into the advantages, factors to consider, and steps to take when purchasing a condo. To stay on top of the market, be sure to keep an eye on new condo launches by visiting Janome Specials.

Singapore’s real estate market appears to be on the upswing as the latest Real Estate Sentiment Index (RESI) published by the National University of Singapore (NUS) reveals a more positive sentiment among senior executives in the private property sector. The RESI, which is measured quarterly by the NUS Department of Real Estate and the NUS Institute of Real Estate and Urban Studies (IREUS), has shown a significant increase from 4.8 in 2Q2024 to 5.9 in 3Q2024 in the current sentiment index. The future sentiment index has also risen from 5.1 to 5.8 in the same period.

The composite sentiment index, which takes into account both current and future sentiment, has a score of 5.9, up from 4.9 in 2Q2024. This is the first time that all three indices have surpassed the neutral score of 5, indicating a growing optimism in the overall market. According to IREUS director Professor Qian Wenlan, this positive sentiment can be attributed to the US Federal Reserve’s interest rate cut in September, the first since 2019, and another reduction in early November. With more cuts expected in the coming months, there is a belief that credit availability and business costs will improve, leading to a boost in market sentiment.

Meanwhile, professor Sing Tien Foo from the NUS Department of Real Estate observes that the strong performance of the suburban residential, hotel/service apartments, and suburban retail sectors have also contributed to the positive sentiment. The current net balances for these sectors are +35%, +35%, and +26% respectively, with their future net balances also recording positive figures of +29%, +35%, and +19%.

However, the top risk concern for developers is still the global economic uncertainty, with 67.7% of respondents citing it as a potential risk. This is followed by job losses, a decline in the domestic economy, and an excessive supply of new property launches, all ranked at 41.9%. Despite these concerns, the overall sentiment in the real estate market seems to be improving, and the expectation is that it will continue to do so in the next quarter.…

Singapore has been ranked as the sixth-highest city in the world for its branding, according to the latest Brand Finance Global City Index. The index, released by Brand Finance, a London-based brand evaluation and strategy consultancy, ranks cities based on their brand power and perceptions.

This finding was the result of a worldwide survey conducted in September, with 15,000 individuals from 20 different countries participating. The respondents ranked 100 cities on various criteria aimed at showcasing each city’s attractiveness as a place to live, work, study, visit, retire, and invest in.

Investing in a condo in Singapore brings numerous benefits, with one of the key advantages being the potential for capital appreciation. Thanks to its strategic location as a global business hub and strong economic fundamentals, Singapore continuously attracts demand for real estate. As a result, property prices have consistently risen in the country, especially for condos in prime locations. For investors who enter the market at the right time and hold onto their properties for the long term, significant capital gains can be expected. With condos being a popular choice among buyers, the potential for capital appreciation is a major draw for investing in Singapore’s real estate market.

Additionally, respondents were asked to associate specific attributes with each city, choosing from a list of 45 attributes grouped into seven categories, such as Business & Investment and Culture & Heritage.

Singapore’s overall ranking was bolstered by its exceptional performance in the Business and Investment pillar, where it secured the third spot globally. This pillar considers factors such as the ease of doing business, the strength of the economy, and the city’s support for start-ups. Singapore also scored well in terms of low crime rates and violence.

Alex Haigh, managing director for Asia Pacific at Brand Finance, highlighted Singapore as the crown jewel of the ASEAN region when it comes to city branding. He added that Singapore is a leader in economic growth, investment attractiveness, and world-class infrastructure, solidifying its position as a premier global financial hub.

Globally, London maintained its top spot as the world’s leading city brand, followed by New York, Paris, Tokyo, and Dubai.…

K Suites, a boutique freehold development, has set a new record for new psf-price highs from Nov 1 to Nov 10. The project, located at Lorong K Telok Kurau, off Still Road in District 15, achieved a new high of $2,443 psf when a 872 sq ft three-bedroom unit was sold for $2.13 million on Nov 8.

The development, which is currently under construction, comprises a five-storey apartment block with 19 units. It is a redevelopment of the former Ji Liang Gardens, which was purchased en bloc for $18.6 million in June 2021.

The units at K Suites range from three- to four-bedroom apartments and measure between 797 sq ft and 1,270 sq ft. There are also four-bedroom duplex penthouses and three five-bedroom duplex penthouses.

Based on caveats lodged, K Suites has sold 8 units (42%) so far at an average price of $2,099 psf since residences at the development first started selling in April 2023.

Thomson Three, a 99-year leasehold condo on Bright Hill Drive, off Upper Thomson Road in District 20, also saw a new high during the period in review. A 1,033 sq ft three-bedder was sold for $2.46 million on Nov 6, translating to $2,379 psf. The seller had bought the unit in a resale transaction for $1.86 million ($1,800 psf) in Nov 2021, making a net profit of $598,000.

Purchasing a condominium in Singapore can bring about numerous advantages. One of the most significant benefits is the high demand for these properties, making them an attractive option for investors. Additionally, the potential for increased value over time and promising rental yields adds to the appeal of investing in a Singapore condo. However, it is crucial to carefully evaluate several key factors before making a final decision. These include the location of the condo, available financing options, government regulations, and the current state of the market. Seeking professional guidance and conducting thorough research can help investors make informed decisions, ultimately maximizing their returns in Singapore’s ever-changing real estate landscape.

Aside from these factors, including Singapore Projects in the evaluation process is also essential when considering condo investments. These projects offer a favorable opportunity for local investors to diversify their portfolios, while foreign buyers can secure a stable and profitable investment. Therefore, incorporating Singapore Projects into the decision-making process can lead to a smarter and more lucrative choice for any savvy investor. With all these factors in mind, it is evident that investing in a condo in Singapore holds great potential for long-term returns and should be seriously considered by any investor looking to expand their portfolio. Additionally, Singapore Projects should be given proper consideration in the evaluation process.

Thomson Three, which was completed in 2016, has 435 condo units across 21 storeys. It comprises one- to four-bedroom apartments and 10 strata semi-detached houses. The development is within walking distance of the Upper Thomson MRT Station and close to Ai Tong School (Primary).

Meanwhile, luxury condo 19 Nassim achieved a new psf-price low of $2,947 psf during the period in review. The developer sold a 646 sq ft, one-bedroom unit on the fourth floor of the development for about $1.9 million on Nov 9.

The condo, which was completed in 2023, saw 50 units sold so far this year at an average price of $3,397 psf. This is a 3.7% decrease from the average price of $3,524 psf for eight units sold last year.

Located at Nassim Hill in prime District 10, 19 Nassim has 101 units housed in a 10-storey residential block. Units range from 538 sq ft to 1,830 sq ft and are a mix of one- to three-bedrooms.

Overall, these developments have set new records for psf prices, with K Suites and Thomson Three achieving new highs and 19 Nassim achieving a new low. This shows the strong demand for freehold and luxury properties in Singapore’s real estate market.…

The real estate market in Singapore is currently bustling with activity, but wise investors should not overlook the stability and potential of income-generating assets such as HDB shophouses. A unique opportunity has emerged to acquire one such coveted property in the established Toa Payoh neighbourhood.

Located at 125 Toa Payoh Lorong 1, in the highly sought-after District 12, this 1,478 sq ft HDB shophouse is now available for purchase at $2.88 million. Boasting a prime location bounded by Toa Payoh Lorong 1 and Lorong 2, the property is less than 200m away from Braddell MRT Station on the North-East Line. According to LTA ridership statistics, this station serves approximately 13,000 MRT riders daily and is intricately connected to the nearby HDB flats.

Investing in real estate is a decision that requires careful consideration, and one of the most important factors to consider is location. This is especially true in Singapore, where the location of a condo can significantly impact its value. Condos located in central areas or close to important amenities such as schools, shopping malls, and public transportation hubs have a higher potential for appreciation in value. Prime locations in Singapore, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown growth in property values. In addition, condos near reputable schools and educational institutions are highly sought-after by families, making them even more valuable investments. For more options, one can also look into new condo launches that offer potential for growth and impressive facilities. These factors all contribute to the importance of location when it comes to investing in real estate in Singapore.

Strategically situated near Toa Payoh West Market and Food Court, Kheng Cheng School, Toa Payoh West Community Centre, and the Singapore Federation of Chinese Clan Association Building on Toa Payoh Lorong 2, this shophouse is sure to attract a steady flow of foot traffic.

Furthermore, with several rejuvenation plans in the works for the Toa Payoh estate, and the addition of several thousand new households in the vicinity, the new owner stands to benefit from the transformation of the neighbourhood. This is expected to increase pedestrian footfall and drive up capital values in the area.

Market Comparison

The exclusive marketing agent for this property is ERA Realty’s senior marketing director, Aster See. With her extensive experience in the industry, See shares that most HDB shophouses in city fringe locations typically offer a rental return of around 2-3% based on their sales price. In comparison, the shophouse at 125 Toa Payoh Lorong 1 offers an estimated ROI of approximately 4%, making it a more attractive investment opportunity for those seeking higher rental returns.

Financial Insights

See also highlights that this property presents a lucrative investment opportunity with an estimated rental yield of 4%. In the current market, such yields are considered competitive and offer a steady source of income for investors. Combined with the potential for capital appreciation in the future, as Toa Payoh continues to rejuvenate, the long-term ROI of this property is expected to be substantial.

Remaking Toa Payoh

Toa Payoh is set to benefit from various government initiatives and schemes aimed at rejuvenating the mature housing estate. It is one of three neighbourhoods earmarked for rejuvenation under the third phase of the government’s Remaking Our Heartland programme. First introduced by then-Prime Minister Lee Hsien Loong in his 2007 National Day Rally speech, this programme offers comprehensive rejuvenation plans for HDB towns and estates to ensure their sustainability and vitality.

Since 2015, several revitalisation projects have been progressively implemented in Toa Payoh, with a focus on enhancing commercial and recreational facilities. The most significant development is the upcoming integrated project on the site of the former swimming complex, sports hall, and stadium along Toa Payoh Lorong 6.

The integrated development, expected to be completed in 2030, will feature new sports facilities, a football stadium, a new swimming pool complex, indoor sports halls, sheltered tennis courts, futsal courts, netball courts, and fitness studios. The site will also include national training centres for aquatics, netball, and table tennis, as well as a polyclinic and library.

Toa Payoh and Caldecott Rejuvenation

The government’s rejuvenation plans for Toa Payoh will be anchored by the addition of several thousand new flats in the estate. One of the upcoming Build-To-Order (BTO) projects is Toa Payoh Ridge, located at the junction of Toa Payoh Rise and Lorong 1 Toa Payoh. This 920-unit BTO project was launched as part of the February 2020 BTO exercise and is expected to be completed in the first half of 2025. It sits less than 300m away from the HDB shophouse for sale at 125 Toa Payoh Lorong 1.

Caldecott, another neighbouring estate, has been earmarked for future residential development since 2017, when the government announced plans to build new BTO flats on a 10ha plot next to Caldecott MRT Station on the Circle Line. These new flats will be less than 500m away from the HDB shophouse for sale at 125 Toa Payoh Lorong 1.

Signs of an upcoming BTO project in Caldecott are evident, as the URA rezoned a plot at the junction of Toa Payoh Rise and Braddell Rise from educational to residential use last February, with an impressive gross plot ratio of 5.0. This suggests a high-rise BTO development may be in the pipeline for the site.

With these surrounding developments and the increased footfall in the area, the shophouse for sale at 125 Toa Payoh Lorong 1 is well-positioned for future success.

Contact Aster See at 98416930, Senior Marketing Director (R063006G), ERA REALTY NETWORK PTE LTD for more information.

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HDB shop at Teck Whye Lane on the market for $4.45 million.…

When contemplating an investment in a condo, it is crucial to factor in the potential rental yield. The rental yield is the annual rental income expressed as a percentage of the property’s purchase price. In Singapore, the rental yields for condos can differ greatly, depending on factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, offer more favorable rental yields. To gain a better understanding of a condo’s rental potential, conducting thorough market research and seeking guidance from real estate agents can prove highly beneficial. Additionally, New Condo Launches can also provide valuable insights into the rental potential of a specific condo.

The top bid of $368.901 million for an industrial GLS (IGLS) site at Kallang Way has been awarded to CL Savour Property, a subsidiary of CapitaLand Development. This marks the first adaptive reuse of a former industrial building in Singapore.The tender for the IGLS site was launched on June 25 and received a total of four bids at the close of tender on October 1, with the top bid of $368.901 million being 14.9% higher than the second highest offer of $317.889 million submitted by a consortium of Soon Hock Group, BHCC Construction, and Evermega. This strategic and sustainable master planning and development of the site aims to rejuvenate the area while preserving its industrial legacy, according to Tang Hsiao Ling, director of urban planning and architecture division at JTC. This is part of Singapore’s efforts to reduce carbon emissions in the built environment.On top of being the first site in Singapore to undergo adaptive reuse, the site is also the last of the five Confirmed List sites in the 1H2024 IGLS programme. The 474,772 sq ft site is zoned for Business 2 use under the master plan and has a maximum allowable gross floor area of 1.23 million sq ft with a 33-year tenure. It is also part of a designated food zone, with plans to include food manufacturing spaces and retail uses to add vibrancy to the industrial area.…

An opportunity has arisen for buyers interested in purchasing a coffee shop located at 253 Choa Chu Kang Ave 1. This property is currently up for sale through the process of expression of interest (EOI) and is being marketed with a guide price of $11 million. The coffee shop occupies a total area of 2,540 sq ft and is situated within Keat Hong Shopping Centre, a two-storey commercial development by HDB that features a range of amenities such as other coffee shops, a supermarket, and various shops and stalls.

The commercial property is zoned for commercial use and boasts a 99-year leasehold tenure with 68 years remaining. It is situated on the ground floor and is currently leased out to a coffee shop operator, housing seven food stalls and a drink stall.

According to Jervis Isaiah Ng, founder of JNA Real Estate, a team under PropNex Realty, potential buyers have the option of personally managing the coffee shop, refurbishing and leasing out the property, or continuing to rent it out to coffee shop operators. JNA Real Estate has been exclusively appointed as the marketing agent for the property.

For those interested in investing in Singapore’s property market, understanding the regulations and limitations surrounding property ownership is crucial. While purchasing a condominium may be straightforward for overseas investors, the rules for buying landed properties are more stringent. Additionally, foreigners must also factor in the Additional Buyer’s Stamp Duty (ABSD) of 20% when purchasing their first property. However, the continuous growth and potential of Singapore’s real Condo industry continue to attract foreign buyers to invest in condominiums.

On a positive note, Ng added that the buyer will not be liable for Additional Buyer’s Stamp Duty as the property does not come with living quarters.

Keat Hong Shopping Centre is conveniently located within walking distance of South View LRT Station on the Bukit Panjang LRT Line and the upcoming Choa Chu Kang West MRT Station on the Jurong Region Line set to be completed in 2027. Additional amenities nearby include Choa Chu Kang Primary School and the recently refurbished Choa Chu Kang West Market.

Interested parties can look forward to submitting their expression of interest by December 22 at 3pm.…

When considering an investment in a condo, it is crucial to also evaluate the potential rental yield. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, the rental yields for condos can vary significantly based 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 determine the rental potential of a specific condo, it is essential to conduct thorough market research and seek guidance from real estate agents. Additionally, keeping an eye on New Condo Launches can provide valuable insights into the rental market.

for $12.9 milThe proposed divestment of its data centre joint venture by Keppel is set to bring in a total gross divestment price of $1.38 billion. The JV, which is owned 60% by Keppel’s connectivity division and 40% by Cuscaden Peak Investments Private Limited, is responsible for managing the Keppel Data Centre Campus at Genting Lane in Singapore. With two fully operational data centres, KDC SGP 7 and KDC SGP 8, that are completely contracted to global hyperscalers on a colocation basis, the campus is a valuable asset with a strong income stream.

The development of KDC SGP 7 and KDC SGP 8 was financed by the JV, Keppel’s private fund Alpha Data Centre Fund and its parallel fund (ADCF), along with co-investors. However, Keppel has now agreed to divest its ownership stake in the JV to Keppel DC REIT (KDC REIT) for the total gross divestment price of $1.38 billion.

Following the acquisition, KDC REIT will have full ownership of KDC SGP 7 and KDC SGP 8. Keppel will continue to operate and manage the two data centres. As part of the deal, KDC REIT will acquire an initial 49% interest in the JV and invest up to $1.03 billion in two new classes of securities issued by the Keppel JV. This will entitle the REIT to 99.49% of the economic interest from both data centres. KDC REIT will also have a call option to purchase the remaining 51% stake from Keppel in the second half of 2025. This remaining stake holds an economic interest of 0.51% in the data centres.

Additionally, KDC REIT will pay an extra $350 million to the JV’s shareholders, ADCF and co-investors, if the campus receives approval for a 10-year land tenure lease extension until 2050.

The acquisition by KDC REIT is expected to have a positive impact on its distribution per unit (DPU) by 8.1%. It will also increase the REIT’s assets under management (AUM) by 36% to $5.2 billion with a portfolio of 25 data centres located across Asia Pacific and Europe.

Keppel will receive approximately $280 million from the divestment. The gross divestment price includes the estimated value of Keppel’s 51% stake in the JV if the call option is exercised, as well as the additional consideration for the campus’s potential 10-year land tenure lease extension if the call option is exercised. The gross divestment price will also be adjusted for debt repayment and completion adjustments.

The JV also owns a vacant plot of land that is meant for a third data centre, which is not part of the transaction. Keppel’s private funds, Keppel DC Fund II and the upcoming Keppel DC Fund III, will sublease the plot to develop the third data centre, KDC SGP 9, within the campus.

“The sale of KDC SGP 7 and KDC SGP 8 to Keppel DC REIT highlights our strength as a global asset manager and operator in structuring deals that offer attractive outcomes and value creation for Keppel, our private funds, and REIT,” says Manjot Singh Mann, CEO of Keppel’s connectivity division. He adds that the company’s integrated ecosystem provides access to essential resources, technology expertise, and strong customer relationships with hyperscalers worldwide, which are crucial for success in the data centre business. Keppel plans to use different sources of capital to develop a robust pipeline of AI-ready data centres that offer effective solutions for customers and attractive investments for its funds and REIT.

Loh Hwee Long, CEO of KDC REIT’s manager, expressed the REIT’s excitement about this landmark deal as it enters its 10th anniversary. KDC REIT first launched its initial public offering (IPO) in 2014. He adds that the proposed acquisition will provide strong positive cash flows and be immediately DPU accretive. He also added that the assets will improve the portfolio’s income resilience and allow the REIT to capture potential rental uplifts and expand its capacity. KDC REIT’s market position as one of the largest owners of stabilised data centres in Singapore will be further strengthened by the inclusion of these assets, where demand is high, and supply is limited.

The proposed transaction is expected to be completed by the end of 2025, subject to approval.…

Frasers Property and its partner Sekisui House are teaming up to revamp and rejuvenate Robertson Walk and Fraser Place Robertson, which will be held under a 999-year lease.

The new development will have a diverse mix of residential units, dining options, and entertainment facilities. This project is set to begin next year and is expected to be completed by the end of 2028.

Assessing the rental yield potential is a crucial aspect to consider when investing in a condo. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, condos can have varying rental yields depending on factors such as location, property condition, and market demand. In areas with high rental demand, particularly near business districts or educational institutions, the rental yields tend to be more favorable. To determine the rental potential of a specific condo, conducting comprehensive market research and seeking guidance from real estate agents can provide valuable insights. Condos hold the potential for a profitable rental investment, and careful evaluation of rental yield can help investors make informed decisions.

With a gross floor area of 30,664 square meters (330,067 square feet), the redevelopment project aims to enhance the overall experience and value of the site.

According to Soon Su Lin, CEO of Frasers Property Singapore, this venture aligns with the company’s proactive approach to managing assets. “We saw a great opportunity to maximize the potential of our prime 999-year site in the heart of Robertson Quay,” she explains.

The redevelopment of the site will be carried out through a 51:49 joint venture between Frasers Property and Sekisui House.

In the meantime, Frasers Property Group will continue to manage Robertson Walk and Fraser Place Robertson until operations cease on 31 May 2025.…

Singapore’s Land Authority (SLA) has recently announced the awarding of tenders to develop two sites on Henderson Road and Scotts Road. The site at 98 Henderson Road will be jointly developed by dormitory and accommodation provider TS Group and co-living operator The Assembly Place (TAP) into a senior co-living accommodation in partnership with Crawfurd Silver Care, the geriatric arm of Crawfurd Hospital.

The tender, which closed in August, invited interested parties to submit proposals to rejuvenate state-owned properties for senior co-living purposes. The winning bid by TS Group and TAP was $102,888 per month (pm), 25.5% higher than the second-highest bid of $82,000 pm from construction and property development company Eco Energy. Other bids were also submitted by ISG Marketplace, Red Crowns Senior Living, Viplas Engineering, and Samwoh Corporation.

The Henderson Road site, which was previously a student hostel, comprises of a four-storey building, a single-storey building, and a guardhouse with a total gross floor area of about 40,361 sq ft. According to SLA, the site will feature fitted apartment units, sports and recreational facilities, as well as hobby-focused spaces and programmes.

In addition to this, SLA is also exploring the adaptive reuse of other state properties for differentiated co-living environments. This includes a potential site at Admiralty that consists of a cluster of heritage bungalows.

When it comes to investing in a condo, one of the key considerations is securing financing. Fortunately, Singapore offers a wide range of mortgage options for potential investors to choose from. However, it is crucial to take into account the Total Debt Servicing Ratio (TDSR) framework, which sets a limit on the amount of loan an individual can obtain based on their income and existing debt obligations. To make informed decisions about financing, it is important to familiarize oneself with the TDSR and seek guidance from financial advisors or mortgage brokers. This can also help prevent over-leveraging. If you are looking to invest in Singapore Projects, it is essential to have a good understanding of the TDSR and enlist the help of professionals to navigate your financing options.

Meanwhile, the site of three single-storey heritage bungalows at 31, 31A, and 33 Scotts Road has been awarded to Heritage At Scotts, a company that curates and manages select F&B brands in Singapore. The company submitted the sole monthly rental bid of $50,000 at the close of the tender on August 7. The three bungalows, which have a total gross floor area of about 11,410 sq ft, will be developed into a creative lifestyle concept such as experiential retail, F&B, wellness, or beauty concepts.

The tender for the trio of colonial-era bungalows was launched in collaboration with the Singapore Tourism Board and has a five-year tenure with the option to extend for another four years. According to SLA, Heritage At Scotts currently operates lifestyle offerings within neighbouring black-and-white bungalows at 27, 29, 35, and 35A Scotts Road. The bungalows at 31, 31A, and 33 Scotts Road will be combined with existing offerings to form a larger lifestyle enclave, complete with a dedicated walkway and landscaped social spaces. SLA also mentions that Heritage At Scotts may look into creating a co-living space in the future.…

The decision to invest in a condominium in Singapore has gained considerable traction among both local and international investors. This is largely due to the city-state’s thriving economy, unwavering political stability, and exceptional standard of living. With a plethora of opportunities available in the real estate market, condos stand out for their convenience, amenities, and potential for lucrative returns. In this article, we will delve into the advantages, factors to consider, and steps to take when investing in a condo in Singapore. Additionally, be sure to keep an eye out for new condo launches, as they can offer even more attractive opportunities for investment.

Hugh Macdonald has been appointed as the new head of capital advisors for Asia Pacific (Apac) at CBRE, according to a recent announcement by the company. With over 20 years of experience in the banking industry, Macdonald brings a wealth of expertise in investment banking and the real estate, gaming, leisure, and lodging sectors to his new role. Prior to joining CBRE, he served as the head of investment banking coverage and advisory for Australia and New Zealand at Deutsche Bank. Reporting to Leo van den Thillart, global head of investment banking, and Greg Hyland, head of capital markets, Apac, Macdonald will officially begin his role in Sydney and will relocate to Singapore in the first quarter of 2025. In related news, Knight Frank has recently named Virginia Huang as their new managing director for north and east China.…