Month: December 2024

As we look ahead to 2025, the landscape of Singapore’s built environment is set to undergo major changes. The facilities management (FM) sector, in particular, is facing a shifting landscape as it grapples with changing regulations, budget constraints, and technological developments. Three key factors will play a pivotal role in shaping the future of FM and driving its sustainability: the mandatory energy improvement regime, the effects of rising temperatures on energy costs, and the growing trend of adaptive reuse in construction.

The introduction of the Mandatory Energy Improvement regime, which will start in the third quarter of 2025, will require existing energy-intensive buildings to undergo energy audits and implement energy-efficiency measures. This mandate applies to commercial, healthcare, institutional, civic, community, and educational buildings with a gross floor area exceeding 5,000 sq m. Buildings must reduce their energy consumption intensity by 10% from pre-energy audit levels – a feasible target that can be achieved by implementing the right strategies.

Asset owners are encouraged to take a longer-term view of investments in energy-efficient systems, despite the heavy capital expenditures. The energy audits will provide valuable data on energy consumption patterns, identify areas for improvement, and guide asset owners in developing a strategy to prolong the lifespan of assets, reduce operating costs in the long run, and contribute to a more sustainable built environment. Building owners can also benefit from grants to help offset the costs of energy efficiency upgrades.

Singapore’s first smart campus, Temasek Polytechnic, has embarked on an ambitious project to digitize its campus operations in 2021. This experience provides valuable insights into the future of smart and sustainable facilities management. At the core of Temasek Polytechnic’s smart campus is a suite of digital solutions that streamline operations, including facility booking, automating repair and maintenance work orders, and managing crowds and temperatures. All these systems are integrated into a centralized data environment that generates insights, enabling campus operations teams to make informed decisions that keep building systems running smoothly and efficiently. This approach maximizes the return on investment in these assets and helps reduce operational carbon levels.

Singapore’s iconic skyline is characterized by towering skyscrapers and modern amenities, making it a sought-after destination for both locals and foreigners. Strategically located condominiums are a popular housing option, offering a perfect blend of luxury and convenience. These residential developments boast an array of top-notch facilities, such as lavish swimming pools, well-equipped gyms, and excellent security services, providing residents with a high-quality living experience. For potential tenants and buyers, these amenities are highly desirable, while for investors, they guarantee significant rental returns and increased property values over time. The ongoing development of new condo launches in prime locations is a clear indication that this trend is here to stay. With every new condo launch, such as the upcoming ones on Janomespecials.com, the demand for luxurious and convenient housing options in Singapore continues to rise.

Another factor driving the sustainability of FM is the increasing push for climate disclosures and tighter regulations. By 2027, all listed and large non-listed companies with revenues of at least $1 billion and total assets of at least $500 million will be required to disclose their climate impact. This will serve as a catalyst for energy efficiency efforts across the board.

Rising temperatures and energy costs will also drive investments in predictive technology. With temperatures predicted to rise in 2025, buildings will require more cooling, resulting in higher energy costs. Air conditioning and mechanical ventilation (ACMV) systems already account for a significant portion of operational costs, making up about 60% of total energy expenses in many buildings. Optimizing energy systems is crucial in mitigating these rising costs. One approach is to implement energy-efficient solutions such as energy recovery systems or thermal energy storage. Additionally, optimizing chiller plant operations to match changing weather conditions can help reduce energy waste and costs.

At the city and precinct level, extreme weather events, such as flooding and urban heat, pose risks to the health and performance of critical infrastructure, including drainage and plumbing systems. To address these risks, building owners and city planners can leverage advanced web-based geospatial technology to identify flood-prone areas or extremely heat-exposed spaces. This data can then be used to develop a comprehensive operational plan that considers potential extreme weather events and helps mitigate the risk of equipment failure and downtime.

The rising costs of construction have also prompted a shift towards adaptive reuse, with the rate of redevelopment in Singapore accelerating over the past five years. According to Surbana Jurong (SJ), mechanical and electrical costs have increased by around 30% compared to pre-pandemic levels. This rise can be attributed to higher logistic shipping costs (up 77%), labor costs (up 9%), and construction materials prices (such as copper, up 15%), as well as a shortage of M&E contractors. This trend is driving the adoption of smarter design and engineering practices, including the use of collaborative common data environments to benchmark construction and operational costs.

Adaptive reuse is a response to rising costs and involves repurposing existing structures instead of demolishing and rebuilding. Platforms supporting integrated digital delivery enable real estate developers and contractors to gain real-time insights into key performance indicators, such as time, cost, quality, and safety. For example, Surbana Jurong’s Podium platform provides a digital ecosystem that connects developers, designers, and the supply chain to deliver highly efficient construction while promoting sustainable building practices.

By consolidating data from multiple sources, stakeholders across the building cycle can access valuable insights on design, engineering plans, construction materials, and components, allowing them to make informed decisions about reusing or replacing specific elements. Increasingly, retaining structural wall columns, beams, and slabs can save time, labor, and materials.

Post-construction, Podium can also integrate with other operational platforms to track building performance metrics, such as energy, waste, water, air quality, and occupancy. This data can help drive operational carbon reduction goals, particularly in areas such as chiller plant operations, which often consume a large portion of total operational expenditures.

Smart buildings can help mitigate further cost pressures by maximizing the life cycle of expensive equipment, such as ACMVs, lifts, and air handling units. This is achieved through a data-driven, long-term approach that prioritizes energy savings to offset the energy tariffs from the capital expenditure in these assets. By leveraging real-time data from sensors, predictive maintenance can help reduce downtime and improve equipment efficiency. For example, sensors can analyze vibrations in chiller equipment, revealing potential wear and impending failure. Similarly, thermal imaging can detect abnormal temperatures or heat buildup in the system. AI-powered monitoring systems can also provide granular detail on each component’s performance, allowing asset owners to make informed decisions about repairs and replacements.

In conclusion, as Singapore approaches 2025, the FM sector needs to adapt to regulatory changes, rising costs, and technological advancements to drive sustainability. By embracing digitalization, data analytics, and sustainable practices, the sector can reduce costs, promote sustainable building practices, and ensure long-term operational success.…

Investing in a condo in Singapore is a smart move for several reasons, one of which is the potential for significant capital appreciation. This is primarily due to Singapore’s advantageous location as a leading global business hub and its stable economy, which create a constant demand for real estate. Over the years, the property market in Singapore has consistently shown an upward trend, particularly in prime locations where condos have seen impressive appreciation. By entering the market at the right time and holding onto their properties for an extended period, investors can reap the rewards of substantial capital gains. This is further supported by the launch of new condos, which add even more potential for appreciation. So, investing in a condo in Singapore not only provides a great living space, but it also serves as a smart financial investment.

may trigger potential en bloc salesRECENTLY SOLDPrices at The Meyerise amidst the data from the last six months, there were 3 transactions at a median above $2.1 milFreehold condo The Meyerise achieves new psf-price high Freehold condo The Meyerise is continuing its upward trajectory, as it recorded a new psf-price high in the week of Nov 29 to Dec 6. This comes just a month after another unit hit a new psf-price peak, showcasing the development’s strong resale market.In the week of Nov 29 to Dec 6, a 1,270 sq ft unit on the 24th floor was sold for $3.52 million, achieving a new price high of $2,771 psf. The new record is just 0.25% higher than the project’s previous record of $2,764 psf that was established last October when a 1,819 sq ft unit was sold for $5.03 million.Read also: Grange 1866 sets new high of $3,393 psfAdvertisementAdvertisementThe Meyerise has managed to maintain its high prices, as seen by the profit made by the sellers of the unit sold on Dec 6. They had purchased it for $2.32 million ($1,830 psf) in May 2016, and this latest sale will see them make a profit of $1.2 million over eight years. The Meyerise has seen a total of nine units change hands this year at an average of $2,405 psf.By absolute price, the most expensive unit sold this year was a 2,056 sq ft unit on the seventh floor that fetched $4.5 million ($2,189 psf) on Oct 7. However, the most impressive part of Meyerise’s resale market is that its newest unit sold for $3.52 million — $1.5 million lesser than the unit sold in October 2019. This suggests that the development has continued to record sales at consistently high prices since it began operating.The Meyerise is also conveniently located within 1km of two MRT stations, as well as near several schools, including Kong Hwa School, Tanjong Katong Primary School, Tanjong Katong Girls’ School and Tanjong Katong Secondary School. The freehold condo has a unit mix that consists of two- and three-bedroom units ranging from 872 sq ft to 1,313 sq ft, four-bedroom units ranging from 1,819 sq ft to 2,056 sq ft, and a single 5,490 sq ft penthouse unit. It is a popular choice for both families and couples, as the condo is equipped with plenty of family-friendly facilities and offers convenient access to a variety of amenities. Upcoming new launch condo in District 15Sign up for free to access more dataAre the Meyerise units selling profitably?Record rentals at MeyeriseAdvertisementAs the Meyerise steadily records transactions above $2.1 million, with its rental prices also peaking at $2,195, it has proven to be a desirable location for both young families and couples. From the most expensive unit to be sold at the development this year — a 2,056 sq ft unit that fetched $4.5 million in October — we can determine that the unit was rented out for $7,500 on June 2020, making it a very profitable investment.In addition, this data is supported by the substantial gap between the rental and selling price of all units. For example, the most expensive unit (2,056 sq ft) is being rented at $7,500, while the most expensive unit (1,819 sq ft) is being rented at only $8,000. This shows that the median of $2,195 might even be below market selling price, suggesting that investors to the Meyerise are most likely receiving a rental yield of at least 2.6%.Related stories:Prime condos in District 15 with most profitable transactionsReal Estate Suggestions in Singapore, SingaporeMy NotesMore

The Meyerise achieved a new price high of $2,771 psf when a 1,270 sq ft unit was sold for $3.52 million on Dec 6. (Photo: Samuel Isaac Chua / EdgeProp Singapore)

The Meyerise achieved a new price high of $2,771 psf when a 1,270 sq ft unit was sold for $3.52 million on Dec 6. (Photo: Samuel Isaac Chua / EdgeProp Singapore)

Private condo along Jalan Rumbia, The Imperial, placed second in the private residential segment. (Photo: Samuel Isaac Chua / EdgeProp Singapore)

Sky Vue is located along Bishan Street 15 in District 20. (Photo: Samuel Isaac Chua / EdgeProp Singapore)

In the competitive world of private condos, The Meyerise managed to take the top spot among other private condos in the week of Nov 29 to Dec 6. This feat was achieved by a 1,270 sq ft, three-bedroom unit on the 24th floor sold for $3.52 million, achieving a new price peak of $2,771 psf. The new record surpassed the project’s previous price record of $2,764 psf by a minimal 0.25%. This record was set in October last year when a 1,819 sq ft, four-bedroom unit on the 28th floor was sold for $5.03 million. This shows that The Meyerise has managed to maintain its high prices despite fluctuations in the market.

The Meyerise has recorded a total of nine units changing hands this year at an average of $2,405 psf. The most expensive unit to be sold this year was a 2,056 sq ft, four-bedroom-plus-study unit on the seventh floor that fetched $4.5 million on Oct 7. The sellers of the unit that was sold on Dec 6 had purchased it for $2.32 million ($1,830 psf) in May 2016, making a profit of $1.2 million over eight years. This suggests that The Meyerise has consistently recorded sales at high prices since its completion in 2015.

The Meyerise is located on Meyer Road in prime District 15 and is within 1km of two MRT stations; Tanjong Katong MRT Station and Katong Park MRT Station, both serving the Thomson-East Coast Line. Several schools are located within 2km of the condo, including Kong Hwa School, Tanjong Katong Primary School, Tanjong Katong Girls’ School and Tanjong Katong Secondary School.

Tabulated by EdgeProp Buddy, here’s a summary of the price trends at The Meyerise in relation to its counterparts:

Project Unit Floor Size Sold Price Price per sq ft Purchased on Sold on Profit The Meyerise 1,270 sq ft $3.52m $2,771 2016 2020 $1.2m The Meyerise 1,819 sq ft $5.03m $2,765 2016 2019 $2.3m The Meyerise 2,056 sq ft $4.5m $2,189 2019 2020 $1.5m

Table 1: Recent transactions at The Meyerise that set a new record. (Source: URA) Unit Floor Size Average Selling Price Average Price per sq ft Average Rental Price Average Rental Price per sq ft Most profitable rental unit 1,813 sq ft $4.8m $2,646 $5,300 $3 The Meyerise 1,303 sq ft $3.1m $2,402 $5,500 $4 The Meyerise 1,012 sq ft $2.4m $2,363 $3,300 $3

Table 2: Rental and selling price data. (Source: URA)

According to the URA Caveats, there have been six resale transactions at The Meyerise this year, at an average sale price of $2,405 psf. Of these, only one transaction was recorded to have incurred a loss of slightly over $200,000. However, this is negligible as compared to the profits gained by the other five transactions, which ranged from $700,000 to slightly over $1.2 million.

Private condo The Imperial, located along Jalan Rumbia in District 9, placed second among the top projects with a new psf-price high during the review period. On Dec 5, a 1,410 sq ft, three-bedroom unit on the 14th floor was sold for $3.7 million, hitting a new price peak of $2,624 psf – a 2.3% increase from the project’s previous high of $2,566 psf in May last year. On the other hand, there were no new price lows recorded during the period of review.

Completed in 2006, The Imperial comprises of two 37-storey towers housing two- and three-bedroom units from 980 sq ft to 1,012 sq ft, three-bedroom units from 1,356 sq ft to 1,991 sq ft, and four-bedroom units from 2,034 sq ft to 3,552 sq ft. The Imperial has recorded six resale transactions from an average selling price of $2,414 psf this year to date.

Situated along Bishan Street 15, Sky Vue clinched the third spot for private residential projects that recorded a new psf-price high. It did so when a 1,141 sq ft, three-bedroom unit on the 33rd floor was sold for $2.86 million on Dec 2, setting a new peak…

The top five most profitable condo resale deals during the week of December 3 to December 10:The following article has been rewritten to focus more on the profitable resale transaction of a six-bedroom penthouse at JadeScape, while including details on the top and bottom profitable resale deals during the week of Dec 3 to Dec 10.

The recent sale of a six-bedroom penthouse at JadeScape, a 99-year leasehold condo located on Shunfu Road, has been the highlight of the week. Sold during the period of December 3 to December 10, the 4,230 sq ft unit on the 23rd floor was purchased for a hefty $10.15 million, translating to $2,399 psf. This transaction marks the most profitable condo resale deal during this period.

The seller of this particular unit bought it from the developer in December 2019 for $5.8 million, or $1,371 psf. This means that the seller has gained a profit of $4.35 million in just five years of owning the unit, resulting in a capital gain of 75%. This amounts to an annualised profit of 15%, making it the largest gain ever recorded for a unit at JadeScape.

The previous record at JadeScape was set just a few months ago, when a 2,099 sq ft five-bedroom unit on the 10th floor was sold for $4.42 million, translating to $2,108 psf. The seller of this unit had bought it from the developer in September 2019 for $3.28 million, earning a profit of $1.14 million on the transaction.

JadeScape is a 1,206-unit development consisting of seven residential towers, located at the junction of Marymount Road and Shunfu Road in District 20. It offers a range of units from one- to five-bedroom apartments, ranging from 527 sq ft to 2,099 sq ft, as well as two penthouses spanning 4,230 sq ft. The development is within walking distance to the Marymount MRT station, making it a prime location for buyers.

The second most profitable condo resale deal during this period was recorded at The Imperial, where a 1,410 sq ft, three-bedroom unit was sold for $3.7 million, resulting in $2,624 psf. The seller of this unit had purchased it from the developer in September 2004 for $1.3 million, or $925 psf. This translates to a profit of $2.4 million after a holding period of 20 years, or a 184% gain.

The Imperial, located on Jalan Rumbia in District 9, is a freehold development featuring 187 units spread across five blocks. Units range from two-, three-, and four-bedders, measuring between 980 sq ft and 3,918 sq ft. It is conveniently located within walking distance to the Fort Canning MRT station on the Downtown Line, as well as the Dhoby Ghaut MRT Interchange, which serves the North-South, North-East, and Circle Lines.

On the other hand, the least profitable condo resale deal this week was also recorded at The Montana, where a one-bedroom unit measuring 635 sq ft was sold for $1.02 million, resulting in $1,603 psf. The seller had bought the unit in July 2014 for $1.18 million, translating to $1,863 psf, resulting in a loss of approximately $165,000 on the transaction.

In summary, there are numerous benefits to be gained from investing in a condo in Singapore. These include a strong demand for properties, potential for significant value growth, and attractive rental yields. However, it is crucial to carefully consider various factors such as location, financing options, government regulations, and market conditions before making any investment decisions. Through thorough research and seeking professional guidance, investors can make well-informed choices and maximize their returns in Singapore’s ever-evolving real estate market. Whether you are a local investor seeking to diversify your portfolio or a foreign buyer searching for a stable and profitable investment, the condo market in Singapore is a highly advantageous option. Additionally, keeping an eye on new condo launches, like those offered by New Condo Launches, can add more opportunities for investors to reap benefits in this dynamic market.

The Montana is a freehold condo located on Jalan Mutiara, off River Valley Road in District 10. It consists of 108 units housed in a single 12-storey tower, offering units ranging from one- to four-bedders, measuring between 549 sq ft to 2,659 sq ft. Despite this, there have been four other profitable resale transactions at The Montana this year, with gains ranging from $80,000 to approximately $525,000.

Overall, JadeScape has seen a total of 72 resale transactions this year, with unit prices ranging from $1,955 psf to $2,420 psf. However, all of these transactions have been profitable, with sellers gaining from $55,000 to $1.15 million from the deals.…

Singapore’s cityscape is characterized by towering skyscrapers and contemporary infrastructure. Condos, situated in prime locations, offer a combination of opulence and ease that appeals to local residents and foreigners alike. These residential complexes boast a variety of facilities like swimming pools, fitness centers, and security services, elevating the overall standard of living and making them a sought-after option for potential renters and buyers. From an investment perspective, these attributes promise higher rental returns and appreciation in property value over the years. Additionally, the inclusion of Condos in the mix adds to the allure of these modern and well-equipped housing options.

CLAR has announced plans to acquire the DHL Indianapolis Logistics Center from Exel Inc. d/b/a DHL Supply Chain (DHL USA) for a total of $153.4 million. The proposed acquisition will see CLAR increase its US portfolio WALE from 4.2 years to 4.7 years, with a first-year NPI yield of 7.6% and an expected improvement of 0.019 Singapore cents in DPU for the financial year ended Dec 31, 2023. The property, which is a fully air-conditioned, single-storey logistics building with a GFA of 979,649 sq ft, is located in Whiteland, Indiana and is expected to be completed in 2022. The acquisition will also increase CLAR’s logistics AUM in the US by 35.3%, bringing its total logistics assets to approximately 5.1 million sq ft across four cities. William Tay, executive director and CEO of the manager, says that the DHL Indianapolis Logistics Center is a “strategic fit” with CLAR’s existing portfolio and will contribute positively to its long-term returns.…

Everyone is talking about Far East Hospitality TrustPrivatisation doesn’t mean complete sell-offPublished on Dec 16, 2021 Wee Hur Holdings, a Singaporean property developer, has recently announced that it has finalized a deal with Greystar to sell its portfolio of seven purpose-built student accommodation (PBSA) assets. The agreement, which was made official on December 16th, involves a purchase consideration of A$1.6 billion ($1.4 billion) for the PBSA portfolio, which spans over 5,500 beds and is located in several Australian cities. Wee Hur Holdings will retain a 13% stake in the portfolio through its subsidiary, Wee Hur (Australia).
According to Wee Hur, the net proceeds of approximately $320 million from the sale will be used to support the company’s strategic growth and reinvestment in its core business, as well as expansion into new areas such as alternative investments. The transaction is expected to be completed within the next six months, pending approval from Australia’s Foreign Investment Review Board (FIRB) and Wee Hur’s shareholders.
Wee Hur states that this sale reflects the company’s resilience in navigating challenging market conditions, including the impact of Covid-19 and the development of greenfield projects. The company also believes that this transaction aligns with its long-term strategy of diversifying its portfolio and positioning itself for sustainable growth in multiple sectors.
Goh Wee Ping, CEO of Wee Hur Capital, says, “In 2021/2022, amidst global uncertainty, we acted decisively to secure liquidity and certainty through our successful recap with RECO. Two years later, as the PBSA market rebounded and our portfolio approached full stabilisation, we capitalised on yet another opportunity to unlock maximum value for our stakeholders through this landmark transaction.” This transaction marks another milestone for Wee Hur Holdings as it continues to adapt and grow in the ever-changing real estate industry.

Rewritten:

The Singapore Condo market is thriving due to the limited supply of land in the small island nation. As Singapore’s population continues to grow rapidly, there is a scarcity of land available for development. This has resulted in strict land use policies and a fiercely competitive real estate market, driving property prices consistently higher. As a result, investing in real estate, particularly condos, has become an attractive option with the potential for significant capital appreciation.…

On December 16, Hoi Hup Realty and Sunway Developments, joint venture developers, successfully sold 137 units at Novo Place executive condominium (EC) during the second round of balloting. This phase was exclusively open to second-timers, who are buyers that have previously purchased a subsidized flat, whether as a new or resale HDB flat or an EC.

Investing in a condo in Singapore has increasingly gained popularity among both local and international investors, drawn to the country’s strong economy, stable political climate, and exceptional quality of life. With a thriving real estate market, Singapore presents a plethora of opportunities, with condos emerging as a top choice due to their convenience, facilities, and potential for profitable returns. This article delves into the advantages, factors to take into account, and key steps to take when considering an investment in a condo in Singapore. To make the most of this investment, it is crucial to look into Singapore Projects for a comprehensive understanding of the available options.

According to Mark Yip, CEO of Huttons Asia, the sale of these 137 units brings the total number of units sold at Novo Place to 444, which represents 88.1% of the entire development. This achievement was made within a month of the project’s launch on November 16, making it the top-selling EC project of 2024.

Yip notes that this high demand reflects a strong interest from second-timers looking to upgrade their lifestyle, with many buyers being residents in the West. He also observes that all four-bedroom units at Novo Place have been quickly sold out, highlighting the high demand for spacious homes.

Novo Place is situated at Plantation Close in the new Tengah town and is only a five-minute walk from Tengah Park MRT station on the Jurong Region Line (JRL). The JRL provides convenient access to major employment hubs in the West, such as the Jurong Lake District and Jurong Innovation District. Yip emphasizes that very few ECs offer such proximity to an MRT station.

Huttons notes that many buyers have opted for the deferred payment scheme, which allows them to secure their desired unit and defer their home loan payments. This option helps ease the financial burden for HDB upgraders who still have an outstanding loan on their current flat.

Yip adds, “ECs are experiencing strong demand from HDB upgraders due to their comparable quality and finishes to private condominiums, but at a more affordable price.” Additionally, buyers can enjoy upfront remission on the Additional Buyer’s Stamp Duty (ABSD).

As of December 16, caveats lodged indicate that the average unit price at Novo Place is $1,656 per square foot. For those interested, they can explore comprehensive data about all ECs, including the average profit at 5 and 10 years. There are still available units left in Novo Place, which is worth checking out.…

The Urban Redevelopment Authority (URA) has reported that developers sold a total of 2,557 new private homes in November, excluding executive condos (ECs). The figure represents an impressive 246.5% increase from the 738 units sold in October, and a 226% jump from November 2023.

Christine Sun, Chief Researcher and Strategist at OrangeTee Group, notes that this is the highest monthly sales figure since March 2013, when 2,793 units (excluding ECs) were sold. Mohan Sandrasegeran, Head of Research and Data Analytics at Singapore Realtors Inc (SRI), adds that this is the first time new home sales have exceeded 2,000 units in a single month since March 2013.

This surge in sales can be attributed to the launch of an “unprecedented” number of projects during the month, according to Lee Sze Teck, Senior Director of Data Analytics at Huttons Asia. In total, five private residential projects were launched in November, including Chuan Park (916 units), Emerald of Katong (846 units), Nava Grove (552 units), The Collective at One Sophia (367 units), and Union Square Residences (366 units).

In addition to these new launches, the 504-unit Novo Place EC also started sales in November. Including ECs, the total number of new home sales in November surged by 277% month-on-month and 226% year-on-year to reach 2,891 units.

Overall, it can be seen that the number of units sold in November is on par with the first 11 months of 2023, with a total of 6,344 units sold. This is slightly higher than the 6,317 units sold in the same period in 2023. Developers have launched a total of 6,627 units for sale in the first 11 months of 2024, while 7,515 units were launched during the same period in 2024.

Top-selling projects in November include Emerald of Katong, which sold 840 units (99%) at a median price of $2,627 per square foot (psf). This makes it the best-selling project by units and percentage in 2024. Chuan Park, developed by Sim Lian Group in the Outside Central Region (OCR), was the second best-selling project with 721 units (79%) sold at a median price of $2,586 psf. Nava Grove in District 21 was the third best-selling project with 382 units (69%) sold at a median price of $2,445 psf.

Sun believes that the strong sales performance among these new launches can be attributed to pent-up demand and improved buyer sentiment following interest rate cuts in September. She notes that buyers were drawn to the various projects’ attractive designs and offerings, particularly those who want to live near the East Coast. The lower interest rates have also made mortgages more accessible, further incentivizing buyers to invest in these projects.

Looking ahead, Huttons’ Lee expects December to be a quieter month due to the school holidays and festive season, with only about 200 to 250 units expected to be sold. This will bring the total number of developer sales for the year to around 6,500 units, slightly higher than in 2023. However, he predicts that price growth for the year will moderate to about 5%, compared to 6.8% in 2023.

The government’s property cooling measures are a crucial factor to consider when investing in a condominium in Singapore. In efforts to maintain a stable real estate market and discourage speculative buying, the Singaporean government has implemented various measures over the years. One of these measures is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may initially affect the profitability of condo investments, they also contribute to the long-term stability of the market, making it a more secure investment environment. Additionally, with Singapore Condo, investors can confidently navigate the market and make informed decisions about their investments.

Moving into 2025, Sandrasegeran expects new home sales to pick up again in January with the launch of The Orie by City Developments. The 777-unit project, located on Lorong 1 Toa Payoh, is the first property launch in the area since Gem Residences in 2016. This is likely to generate pent-up demand, especially with its proximity to Braddell MRT station.

Other notable launches expected in the first quarter of 2025 include Bagnall Haus, Aurea, and Aurelle of Tampines EC. Sun believes that the surge in sales in November is a temporary phenomenon and that the demand for new homes has been subdued throughout 2024 due to the lack of significant private project launches. Huttons’ Lee is cautiously optimistic about a better performance in the new sale market in 2025, with a possible rebound to between 7,000 and 8,000 units sold and price growth of 4% to 7%.…

Hilton, a leading global hospitality company, has recently unveiled the new Hilton Garden Inn Beihai Jiafu in Beihai, China. This marks the company’s 100th Hilton Garden Inn in the Greater China region, showcasing its strong presence in the country. The 199-room property is strategically located near major transportation hubs, including the Beihai High-Speed Railway Station and Beihai Fucheng Airport, making it easily accessible for travelers. Additionally, it is only a 20-minute drive from the Beihai International Passenger Port.

Qian Jin, Hilton’s president of Hilton Greater China and Mongolia, expressed his excitement about the opening, stating that it not only showcases the rapid growth of the brand but also reiterates their long-term commitment to the Chinese market. Hilton Garden Inn first entered the Chinese market in 2014 with the opening of its first property in Shenzhen. Since then, it has expanded to major cities such as Shanghai, Beijing, Chengdu, Guilin, and Aksu. The brand plans to open more Hilton Garden Inn properties in China, including popular tourist destinations like Zhangjiajie, Ordos, Huangshan, Shanwei, and Jinan, by 2025.

Investing in a condo in Singapore presents various advantages, with one being the potential for capital appreciation. This is due to Singapore’s strategic position as a thriving business center and its robust economic foundations, leading to a continuous demand for real estate. Over time, the real estate market in Singapore has displayed a consistent upward trend, particularly for condos situated in prime locations, resulting in substantial appreciation. Savvy investors who enter the market at the opportune moment and hold onto their properties for a prolonged period can reap significant capital gains. The addition of a Condo to their portfolio could prove to be a wise investment decision.

In addition to the standard properties, the brand will also introduce Hilton Garden Inn Gen A properties, a regional prototype designed for the needs of Generation Alpha travelers in Greater China. This new concept was announced by Hilton in June and is set to debut in Nanjing, Chengdu, Chengde, and Jinan. These upcoming developments will contribute to Hilton Garden Inn’s expansion across the wider Asia Pacific region. Clarence Tan, senior vice president of development, Asia Pacific at Hilton, reveals that over 200 Hilton Garden Inn properties are currently under development in the region. With these promising developments, Hilton Garden Inn is set to become a top choice for travelers in Asia Pacific.…

When purchasing a condominium, it is crucial to take into account its maintenance and management. Condos usually require maintenance fees that encompass the maintenance of shared spaces and amenities. Although these fees may increase the total cost of owning the property, they also guarantee that it stays in excellent condition and maintains its worth. For investors looking for a more hands-off approach, hiring a property management company can assist with the everyday management of their condo, making it a more passive investment. Don’t forget to also check out New Condo Launches for potential investment opportunities.

CapitaLand Investment Limited (CLI) is expanding its reach in Australia through the acquisition of Wingate Group Holdings’ property and corporate credit investment management business for A$200 million ($173 million), plus an earn-out agreement. This move will increase CLI’s funds under management (FUM) in Australia by 30% to $8.3 billion, or around 7% of its total FUM of $115 billion. CLI has set a target of reaching $200 billion in FUM by 2028 and has committed to investing up to A$1 billion in growing its FUM in Australia. This focus on Australia marks a shift in strategy for CLI, as the company had previously divested its key assets in the country in favor of pursuing faster-growing markets like China and overseas.

CLI has a strategic partnership with Wingate, having announced the close of its A$265 million Australia Credit Program (ACP) in September. Wingate is a leading private credit investment manager in Australia with a track record of completing over 350 transactions worth more than A$20 billion. This acquisition will allow CLI to tap into Wingate’s extensive deal origination networks, gain access to more institutional and private high-net-worth investors, and increase its geographical exposure to Australia. Paul Tham, CLI’s group CFO, sees potential for growth in other Asia Pacific markets such as South Korea, India, and Japan, and believes that this move will accelerate CLI’s geographical diversification efforts.

The Australian private capital market has grown by 33% in the past 18 months, with assets under management reaching A$139 billion. CLI projects a commercial mortgage funding gap of A$146 billion by 2028, highlighting the potential for growth in this market. With the acquisition of Wingate, CLI will further diversify its portfolio, which currently includes logistics, business parks, office, and lodging assets across nine cities in Australia. As of September, CLI managed 34 logistics properties and business parks, four Grade A office buildings, and over 13,500 lodging units across more than 150 properties under its lodging business unit, The Ascott. CLI sees Australia as a strategic focus market and believes that this acquisition will help drive its growth in the region.…

A group of four heritage conservation shophouses located at 762, 764, 766 and 768 North Bridge Road are now available for purchase through an expression of interest (EOI) with a guide price of $37 million.

The row of shophouses is spread across two plots of land, totaling 5,766 sq ft, with an average land rate of $6,417 psf. The first plot consists of 762 and 764 North Bridge Road, sitting on a 2,891 sq ft plot of land and featuring a built-up area of 4,917 sq ft, including a mezzanine level. The other two units, 766 and 768 North Bridge Road, are situated on an adjacent plot measuring 2,875 sq ft and have a built-up area of 4,657 sq ft, including a mezzanine level.

Isabel Sim, associate senior marketing director at Huttons Asia, is exclusively marketing the properties. According to Sim, the usable area of each unit can be expanded by extending the rear and creating an outdoor terrace on the second floor, subject to approvals from the relevant authorities. This could potentially add 1,000 sq ft of usable space for each unit.

Currently, the properties are occupied by a fitness retail shop, a convenience store, and massage and reflexology service providers. As commercial properties, prospective buyers will be exempt from Additional Buyer’s Stamp Duty (ABSD) on the shophouses. This makes them an attractive investment opportunity for both local and foreign buyers looking for potential capital gains and stable rental yield.

In summary, purchasing a condo in Singapore offers a multitude of benefits, including strong demand, potential for value appreciation, and appealing rental returns. Nevertheless, it is crucial to carefully assess elements such as location, financing options, government regulations, and market conditions. Through thorough research and seeking expert guidance, investors can make well-informed decisions and maximize their investments in Singapore’s dynamic real estate industry. Whether you are a local entrepreneur looking to diversify your portfolio or a foreign purchaser seeking a stable and lucrative investment opportunity, Singapore’s condos offer a compelling option.

The four shophouses have prominent frontage along North Bridge Road, enjoying high visibility and footfall in the historic Kampong Glam Conservation enclave. They are also conveniently located within walking distance to Bugis MRT Interchange, providing accessibility to the East-West and Downtown Lines, as well as Nicoll Highway MRT Station along the Circle Line.

The area, with its prime central location, historical significance, and vibrant commercial environment, has become a popular destination among locals and tourists. Iconic landmarks like Sultan Mosque and the Malay Heritage Centre, both within close proximity to the properties, add to the area’s appeal.

Interested parties can submit their EOI by January 10, 2025, at noon. For more information on this rare and lucrative investment opportunity, please contact Isabel Sim Cheng Yi at 81802707, Associate Senior Marketing Director (R065855G) from Huttons Asia Pte Ltd.…