Month: February 2025

Mandarin Gardens recorded the most profitable condo resale transaction during the week of Feb 7 to Feb 14. A 3,800 sq ft, four-bedroom unit at the development fetched $4.88 million, or $1,284 psf, on Feb 11.This transaction sets a new record for the most profitable transaction recorded at Mandarin Gardens, breaking the previous record held by another four-bedroom unit that fetched $4.1 million ($1,336 psf) in September 2021.Upon closer consideration, this sale also generated a profit of $3.83 million (364.8%) for the seller, which is equivalent to an annualised capital gain of 7.4% over 21½ years.Mandarin Gardens is a sprawling 1,006-unit condo located in District 15 along Siglap Road. It spans a total of 17 blocks, each ranging from nine to 23 storeys tall. The apartment units at Mandarin Gardens are varied, with one- to two-bedroom apartments sized from 732 sq ft to 1,001 sq ft and three- to four-bedroom units from 1,528 sq ft to 3,800 sq ft. Eleven strata commercial units can also be found on-site.Read also: Resale unit at Palisades makes record profit of $2.3 milResale prices for units at Mandarin Gardens have largely plateaued since September 2023, when the average resale price for units at the condo surpassed $1,300 psf. According to EdgeProp Singapore’s tools for analysis, prices have since peaked at $1,316 psf in June 2024, before landing at $1,310 psf as of Feb 25.The condo unit that made waves in this transaction is one of 18 four-bedroom units situated within Mandarin Gardens. The last four-bedroom unit to be sold at the condo was also of a similar size – a 3,800 sq ft unit on the ninth floor that fetched $4.26 million ($1,122 psf) in June 2023.Mandarin Gardens sits on a 1.07 million sq ft site along Siglap Road in District 15. It has a 99-year leasehold tenure starting from 1982, with about 56 years remaining. The 1,006-unit condo spans 17 nine- to 23-storey blocks. Residential units at the condo are a mix of one- to two-bedroom apartments from 732 sq ft to 1,001 sq ft and three- to four-bedroom units from 1,528 sq ft to 3,800 sq ft. The project also houses 11 strata commercial units.Meanwhile, the second most profitable resale transaction during the period in review was recorded at Parvis, a freehold condo located along Holland Hill in prime District 10. On Feb 10, a 2,260 sq ft, three-bedroom unit on the second floor of the development was sold for $4.78 million ($2,115 psf).The unit had last changed hands in December 2009 when it was bought from the developers for $2.78 million ($1,230 psf). Therefore, the sellers made a profit of $2 million (71.9%) from the deal or an annualised gain of 3.6% over 15 years.This transaction sets the record for the second most profitable transaction at Parvis. The most profitable sale was recorded in November 2022, when a 2,605 sq ft, four-bedroom unit was sold for $5.4 million ($2,073 psf). Purchased at about $3.21 million ($1,230 psf) in December 2009, this transaction yielded a profit of $2.19 million (68.2%), or an annualised gain of 4.1% over 13 years.Read also: Resale three-bedder at Botanic Gardens Mansion posts record $2.97 mil profitThe most profitable transaction at Parvis was recorded in November 2022, when a 2,605 sq ft, four-bedroom unit was sold for $5.4 million ($2,073 psf).The second most profitable transaction of the review period is the second profitable transaction to take place at Parvis this year. The first profitable transaction took place on Jan 6, when a 2,788 sq ft, four-bedroom unit on the 12th floor was sold for $6.1 million ($2,188 psf). The seller had bought the unit for $4.25 million ($1,524 psf) in 2011, thus raking in a profit of $1.85 million (43.5%) after 14 years. This sale now stands as the fifth most profitable transaction at Parvis to date, which indicates that while the buyers of Parvis units may have seen relatively slow capital gains, the profit potential for resales is still present.Read also: Sold for $3.08 mil: A buyer’s loss at Scotts Square Interestingly, Scotts Square, a mixed-use freehold development located along Scotts Road, also achieved record-breaking in the week of Feb 7 to Feb 14, but not in the most profitable record. Instead, a 947 sq ft two-bedroom unit on the 28th floor was sold for $3.08 million ($3,252 psf) on Feb 13, thus breaking the record as the most unprofitable sale recorded during the week of Feb 7 to Feb 14. This sale also recorded a loss of $745,880 (19.5%) for the sellers. Buyers of Scotts Square units have experienced a price downtrend since the launch in 2007. According to EdgeProp Singapore’s rolling averages, prices peaked at $4,054 psf in July 2007 before falling to a low of $3,330 psf in August 2020. The average price for resale units at Scotts Square last month was $3,398 psf.Developed by Wharf Estates Singapore, Scotts Square is a mixed-use freehold development located along Scotts Road. It achieved its TOP in 2011 with two luxury residential towers of 43 and 34 storeys. In total, 338 apartments and a four-storey retail podium make up this development.Read also: Penthouse at Orchid Mansion on Amber Road fetches record profit of $2.58 milResidential units at Scotts Square are a mix of one- to three-bedroom units from 603 sq ft to 1,249 sq ft. Its variety of amenities include concierge services, a gym, a lap pool and a sky pool on the 35th floor.The most unprofitable transaction recorded between Feb 7 and Feb 14 was the $3.08 million sale of a two-bedroom unit at freehold condo Scotts Square. The unit on the 28th floor at this 947 sq ft space was previously sold for $3.83 million in December 2007. This resulted in a 19.5% loss for the sellers, equivalent to an annualised loss of 1.3% over 17 years.Scotts Square is a mixed-use freehold development located along Scotts Road in the Orchard shopping belt. Completed in 2011, it has two luxury residential towers of 43 and 34 storeys with a total of 338 apartments and a four-storey retail podium.Residential units at the condo contain a mix of one- to three-bedroom units from 603 sq ft to 1,249 sq ft. Amenities at the condo include concierge services, a gym, a lap pool and a sky pool on the 35th floor.

Investing in a condominium in Singapore entails considering condo financing as a crucial aspect. There are numerous mortgage options available, but it is essential to understand the Total Debt Servicing Ratio (TDSR) framework. This framework imposes a limit on the loan amount that a borrower can obtain, considering their income and current debt responsibilities. It is beneficial for investors to be familiar with the TDSR and seek advice from financial experts or mortgage brokers to make informed decisions and avoid excessive borrowing. Condo should be a top priority when considering condo financing in Singapore.…

During a period of February 7-16, the sale of a two-bedroom unit at Hill House, a 999-year leasehold development, achieved a new record of $3,398 per square foot. This surpassed the previous peak of $3,378 per square foot, set just five days earlier on Feb 11. Hill House, a boutique condo located at the top of Institution Hill, off River Valley Road, comprises 72 units and was launched in 2022. It features one-bedroom units of 431 square feet, two-bedroom units ranging from 452 to 624 square feet, and three-bedroom units spanning 753 square feet. As of November 2022, 51.4% of the units at Hill House have been sold at an average price of $3,152 per square foot, with the remaining units set to be completed in 3Q2026. Out of the eight units sold since the start of the year, the most expensive was a three-bedroom apartment of 753 square feet, which sold for $2.39 million on January 5.Located just a five-minute walk away from River Valley Primary School and close to New Bahru lifestyle hub, Hill House is the perfect example of luxury living in prime District 9. The Tresor, a 62-unit development on Duchess Road in District 10, came in second on the list of condos with new record psf-prices. A resale transaction of a 1,421 square foot unit on the fifth floor sold for $3.73 million on Feb 10, setting a new high of $2,625 per square foot. This beats the previous record of $2,501, set in March 2024. This transaction, the first resale in a year for The Tresor, surpasses the previous record of $2,501 set in March 2024. The Tresor, completed in 2007, consists of two-, three-, and four-bedroom units ranging from 990 to 2,896 square feet. Also close to Tan Kah Kee MRT Station, Coronation Shopping Plaza, Serene Centre, Adam Food Centre, and the Singapore Botanic Gardens, The Tresor is a great option for those looking for convenient luxury living. The third spot on the list was taken by Jadescape, where a four-bedroom unit of 1,647 square feet sold for $4.05 million on Feb 7, setting a new record of $2,459 per square foot for the development. This surpassed the previous record of $2,446 set in January. Jadescape, a 99-year leasehold condo completed in 2022, comprises 1,206 units across seven residential towers, with two penthouses of 4,230 square feet. Within walking distance of both Marymount and Sin Ming MRT Stations, as well as Sin Ming Plaza, Jadescape is highly sought after and commands one of the highest average transacted prices among condos within a 1km radius. No new psf-price lows were recorded during the period in review.

When it comes to real estate investments, location is a crucial factor, and this rings especially true in Singapore. The value of condos is greatly influenced by their location, particularly in central areas or near essential amenities like schools, shopping malls, and public transportation hubs. Singapore’s prime locations, including Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown growth in property values. This is due to their strategic locations and accessibility. Families also consider the proximity to good schools and educational institutions as a top priority when looking for a condo to invest in, making properties in these areas highly desirable. With the constantly growing demand for housing in Singapore, investing in projects such as Singapore Projects is a wise decision for those looking to capitalize on the city-state’s thriving real estate market.…

In today’s competitive real estate market, Chiu Teng Group has proven its expertise in developing quality commercial and industrial spaces in Singapore. With its latest project, the freehold development of CT Pemimpin, this reputable developer continues to impress property investors and business owners alike.

Located at 43 Jalan Pemimpin in the Central Region, CT Pemimpin is a nine-storey, partial ramp-up factory comprising 56 strata-titled units and three canteen units. What sets it apart from other developments is its rare freehold status, making it a highly sought-after gem in land-scarce Singapore. Additionally, buyers of commercial and industrial properties are not subject to Additional Buyer’s Stamp Duty (ABSD) by the government, making it an attractive alternative for both investors and foreigners.

According to Kelvin Fong, Deputy CEO of PropNex Realty, “Being a freehold development in this centralised location, it will be a good investment asset for both investors and end-users.”

CT Pemimpin offers a one-to-one carpark ratio, with 59 carpark lots including two electrical vehicle lots, three lorry lots for less than 7.5m length rigid-frame vehicles, two handicapped lots, and 34 bicycle lots. This generous carpark provision, along with two passenger lifts and a service lift for easy accessibility, adds to the convenience of its occupants.

Ken Low, SRI managing partner, highlights the benefits of CT Pemimpin’s partial ramp-up design, saying, “One of the standout perks of CT Pemimpin is the carpark lot allocated for each of the 59 units, offering convenience for business owners. This will ensure seamless accessibility and time saving.”

In terms of location, CT Pemimpin is situated in District 20, a highly popular area with a multitude of amenities from well-established townships nearby, such as Bishan, Upper Thomson, and Ang Mo Kio. Its strategic location offers excellent accessibility and connectivity to all parts of Singapore via various transport modes and is well served by three MRT lines. It is also easily accessible by major expressways such as PIE and CTE, and an upcoming expressway, the North-South Corridor, will further reduce travelling time from the north into the city when it is completed in phases from 2027.

Doris Ong, Deputy CEO of ERA, emphasizes the significance of owning a freehold property in Singapore’s central region, calling it “not just a smart investment, but also a strategic business asset.” She adds that its central location offers an impressive corporate address, unmatched connectivity, and enduring potential for growth.

Investing in a condo offers many advantages, including the opportunity to utilize the property’s value for further investments. In fact, it is common for investors to use their condos as collateral to secure additional financing for new investments. This allows them to grow their real estate portfolio, which can potentially lead to higher returns. However, it is important to note that this strategy also carries risks. It is essential to have a solid financial plan in place and carefully consider how market fluctuations may impact your investments. As you consider condo investment, be sure to explore opportunities in top Singapore projects for even greater potential.

CT Pemimpin is also surrounded by numerous shopping hubs, reputable schools, and a variety of dining options, making it an attractive location for both businesses and their employees. Its green features, such as shower rooms, bicycle racks, rooftop solar panels, and EV charging stations, all contribute to a more sustainable future. The development also boasts a sky garden with two rooftop pavilions, providing an ideal space for outdoor gatherings and events.

Mark Yip, CEO of Huttons Asia, praises CT Pemimpin’s green initiatives, saying, “With water-saving fittings, double glazed windows for certain units, and many other green features for sustainability, CT Pemimpin aims to shape a greener and more committed future. Its superior specifications make it a suitable choice for a range of industries, from e-commerce to media houses, telecommunications, software development, and more.”

With an established track record of successful residential and industrial projects such as CT FoodNEX, CT Foodchain, The Creek@Bukit, Tagore8, and CT Hub & Hub 2, Chiu Teng Group has a reputation for reliability and quality. The preview for CT Pemimpin ends on March 5, 2025, so interested parties are encouraged to act quickly and secure their rare freehold industrial space.

To arrange a viewing, interested parties can call 8100 8017 or visit the Chiu Teng Group website. Don’t miss this opportunity to invest in a prime freehold development in Singapore’s central region.…

Feb 27 auction: Sim Lim Square units for buyer seeking a rental yield potential

ERA’s next auction on February 27 will feature a pair of adjacent retail units on the third floor of Sim Lim Square with a total guide price of $3.38 million. The larger of the two units is 958 sq ft and is priced at $2.08 million ($2,171 psf), while the smaller unit is 570 sq ft and priced at $1.28 million ($2,246 psf). This is the first time both units have appeared on ERA’s auction listings as they are being sold by the owner.

These units can be purchased together or individually, and according to Alison Lee, assistant vice president of auction and sales at ERA, they are competitively priced. “They are priced slightly below the market average to incentivize a speedy sale,” she says.

Based on EdgeProp Singapore’s analytical tools, retail units at Sim Lim Square have averaged $2,997 psf in the last 12 months. The most recent unit to be sold at the development was a 592 sq ft shop on the ground floor that fetched $1.92 million ($3,241 psf) in December 2024.

Sim Lim Square is known as a tech hub and has a wide variety of electronics, gadgets, and computer parts on display (Photo: ERA)

Lee also points out that Sim Lim Square is known as a prominent tech hub, with a variety of electronics, gadgets, and computer parts retailers. The complex also includes various other businesses, such as eateries and traditional Chinese medicine stores.

Both retail units for sale are currently tenanted and bring in an average monthly rental income of $4.50 psf. According to rental data compiled by EdgeProp Singapore, retail units at Sim Lim Square generate between $4.20 psf and $7.30 psf per month, based on the previous 12 months average.

The owners of Sim Lim Square put the development on the market for collective sale in April 2019, with a reserve price of $1.25 billion. It was then relaunched for sale again in December 2019 at the same price but failed to find a buyer.

Plans for a second collective sale attempt, led by a committee formed in 2022, fell through. As a result, Lee states that a new committee is being formed to explore the possibility of another collective sale attempt in the near future.

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Singapore’s urban landscape is defined by towering skyscrapers and modern infrastructure. Condos, strategically located in desirable areas, offer a perfect blend of luxury and convenience that attracts both local and foreign residents. These residential developments boast a range of top-notch amenities such as swimming pools, fitness centers, and security services, elevating the standard of living and making them a highly coveted choice among both renters and buyers. In addition, these facilities result in higher returns on rental income and appreciation in property value, making them a lucrative investment opportunity for investors. Keep your eyes peeled for the newest New Condo Launches, which bring even more lavish options to the market. Don’t miss out on these exciting opportunities, available at New Condo Launches.

Sim Lim Square was completed in 1987 and is a strata-titled commercial development in District 7 on Rochor Canal Road. It covers 78,152 sq ft of land with a 99-year lease that started in 1983. The six-story complex houses 492 retail and office units, with two basement levels. Rochor and Jalan Besar MRT Stations on the Downtown Line are within walking distance, and the Bugis MRT Interchange connects the East-West and Downtown Lines at the airport.…

amid Sarin family feud

Mr Chong, a retiree, provided support for his three sons when they were setting up their homes. His eldest son bought a private condo while the younger ones bought executive condos (ECs). According to him, buying an EC at a new launch is a no-brainer and even if purchased shortly after the five-year minimum occupation period (MOP), it is still a good entry price.

Mr Chong had experienced both situations as his second son had bought a three-bedroom unit at the 531-unit Hundred Palms Residences during its launch in July 2017. Due to its popularity, the four-bedroom units were snapped up quickly. This project by Hoi Hup Realty had received 2,000 e-applications and was sold out on the first day at an average price of $841 psf. The EC located on Yio Chu Kang Road was completed in 2019 and based on caveats lodged in January and February 2025, the average price of units sold was $1,769 psf, resulting in a 110% price gain in just eight years.

Mr Chong’s second son had bought a three-bedroom unit at the Hundred Palms Residences and according to Mr Chong, the unit has appreciated by about $1 million since its launch in 2017. This capital gain may have motivated many to upgrade to private housing, Mr Chong says.

Three years ago, when Mr Chong’s youngest son decided to set up his own home, Mr Chong sold his 1,260 sq ft, three-bedroom unit at The Interlace, which had been their family home for the past decade. In 2021, the Chongs bought a 1,399 sq ft, four-bedroom, dual-key resale unit at Twin Fountains, a 418-unit EC in Woodlands. The EC was developed by a joint venture between Frasers Property and Lum Chang, and was launched in 2013 and completed in 2016.

ECs are only open to buyers who are Singapore citizens or permanent residents (PRs) at launch and after the five-year MOP. Foreigners can only buy ECs in the resale market after the 10th year of obtaining Temporary Occupation Permit (TOP). The dual-key unit offers Mr Chong privacy as he occupies the one-bedroom studio while his son and family occupy the three-bedroom apartment. Each apartment has its own separate entrance, even though the main entrance is shared.

Despite paying $1,000 psf for the unit in 2021, which was considered a new high at that time, recent resale prices are even higher, Mr Chong points out. Based on a caveat lodged in February, the latest transaction of a 1,206 sq ft, four-bedroom unit was $1.62 million ($1,344 psf).

Mr Chong believes that the announcement of revitalisation and new infrastructure, including the Johor Bahru-Singapore Rapid Transit System (RTS) with the Singapore terminus in Woodlands North, has revived interest in the northern region.

However, as EC prices are rising and there are caps on loan quantum, buyers will now have to pay a larger cash outlay, according to Eugene Lim, key executive officer of ERA Singapore. The monthly household income ceiling for ECs is $16,000 and buyers have to meet the Mortgage Servicing Ratio (30% cap) and Total Debt Servicing Ratio (55% cap) requirements if they take a loan. For example, if a 30-year-old EC buyer has a household income of $16,000 and a maximum loan tenure of 30 years, based on the stress test of a 4% interest rate for MSR, the maximum loan amount he or she can take on is around $1 million, estimates Mr Lim.

Despite the higher upfront costs, buyers are not deterred by the higher prices of ECs as there is still a 42% median price gap between similar-sized homes in the EC market and 99-year leasehold private condos in the Outside Central Region (OCR), Mr Lim says. The median price of an EC unit sized at 900-1,000 sq ft is about $1.48 million, while that of a similar-sized unit in a private condo is about $2.1 million. “Hence, in terms of absolute price, buyers, particularly HDB upgraders, still see value in ECs,” Mr Lim reasons.

In 2024, the average transaction price of new non-landed private condos in the suburbs or OCR crossed the $2,200 psf mark. Meanwhile, new ECs in 2024 were sold at a median price of $1,539 psf based on caveats lodged, says Ismail Gafoor, CEO of PropNex. That reflects a price gap of 44.2%. He expects the median price for new condos this year “to tip over $2,200 psf again”.

Christine Sun, OrangeTee Group chief researcher and strategist, found that the median price gap between new ECs and new private condos in the OCR has narrowed in recent years. Based on data from URA Realis, the gap has narrowed from 49.4% in 2023 to 44.2% in 2024 and to 43.6% in January 2025.

Ms Sun attributes this narrowing gap to EC prices rising at a faster pace of 9.6% from 2023 to January 2025, compared to a 5.3% increase in non-landed home prices in the OCR over the same period.

To sustain demand, ECs must remain affordable and have a lower price psf compared to 99-year leasehold private condos in the same area, says ERA’s Mr Lim. Aside from the lower price relative to new private condos, EC buyers do not need to dispose of their existing home before making their purchase. HDB upgraders also do not incur additional buyers’ stamp duty (ABSD) when buying a new EC, he points out. Moreover, EC buyers may opt for the Deferred Payment Scheme (DPS) at a slightly higher purchase price. Under the DPS, they only need to pay a deposit with their loan deferred until after the completion of the EC. Buyers will not need to service two mortgages while waiting for the new home to be completed, says Mr Lim.

Although there are going to be three new EC launches this year, they are strategically spaced out across different locations – Tampines, Pasir Ris, and Tengah – to cater to the housing needs of Singaporeans across the island.

Singapore is a popular choice for condo investment, but it’s important to also consider the government’s property cooling measures. Over the years, the Singaporean government has implemented various measures to discourage speculative buying and maintain a stable real estate market. These measures include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may affect the short-term profitability of investing in Singapore condos, they ultimately contribute to the long-term stability of the market, creating a safer environment for investment. Singapore Condo is a great addition to this thriving market.…

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According to research conducted by C9 Hotelworks, a hospitality consultancy based in Asia, the market value of branded residential projects in Asia has reached a record high of US$26.6 billion ($35.5 billion). This is due to the availability of over 68,000 luxury units across the continent.

Leading the way in the number of branded residential units is Vietnam, with 17,680 units spread over 59 properties. The average price of a branded residential unit in Vietnam is approximately US$350 per square foot (psf). Following closely behind is Thailand with 16,271 units in 65 properties, with an average price of US$510 psf. The Philippines ranks third with 13,276 units in 46 properties, with an average price of US$400 psf.

However, it is Singapore that commands the highest prices for branded residences in the region, with an average of US$2,140 psf. Meanwhile, Japan holds the second spot with an average price of US$1,935 psf for branded residences.

The data also reveals new emerging markets in the branded residential sector, with South Korea having 3,026 units across 16 properties, and Malaysia with 6,014 units in 24 projects.

In the post-Covid-19 era, urban-locale branded residences make up 56% of the existing supply in Asia, with luxury urban projects dominating the sector in terms of market value. For example, urban branded residences in South Korea are priced at US$2,670 psf, which is more than half of the cost of resort projects in the country, which typically sell for US$1,040 psf. Similarly, in Thailand, urban branded residences fetch about US$770 psf, compared to US$430 psf for resort locations.

Out of the total branded residential market in Asia, about 12,330 units are affiliated with luxury hotel brands, accounting for 31% of the market supply. According to Bill Barnett, managing director of C9 Hotelworks, a reputable brand can help a property command a premium pricing of 30% to 35% above the market rate in a country, making it a valuable asset for developers to increase their market share.

The appeal of top hospitality brands and other luxury lifestyle brands has also influenced hotel groups and premium brands to demand higher licensing fees. It is not uncommon for luxury hotel brands and lifestyle brands to request a 6% to 10% cut in the sale of each branded residential unit.

For instance, last August, Thai developer Ananda Development and German automaker Porsche, through its lifestyle brand Porsche Design, introduced the ultra-luxurious Porsche Design Tower Bangkok in Thonglor. This 22-unit tower, which will be completed in 2028, is the first Porsche residential tower in Asia, following the Porsche Design Tower Miami a decade ago. It offers duplexes and quadplexes, with prices ranging from US$15 million to US$40 million.

Gianfranco Bianchi, general manager of Asia Pacific at The One Atelier, an international design consultancy specialising in branded residences for lifestyle brands, observes that in recent years, more luxury lifestyle brands have formed partnerships to license their branding into real estate developments across the Asia Pacific region. Some of the brands that One Atelier has collaborated with include the 28-unit Fendi Casa Residences by Armani in Miami, the 259-unit 888 Brickell by Dolce & Gabbana in Miami, the 90-unit Büyükyalı Residences in Istanbul, Turkey, and the Karl Lagerfeld Villas, a collection of five ultra-luxury villas in Marbella, Spain.

While hospitality-affiliated branded residences provide top-notch hospitality services, fashion or design-branded residences offer a rare trophy home that conveys the namesake design and luxury aesthetic that have made such brand names synonymous with luxury lifestyles today, says Bianchi.

Ananth Ramchandran, head of advisory and strategic transactions in hotels and hospitality (Asia) at CBRE, notes that property cooling measures have led to many high-net-worth Singapore-based buyers of branded residences considering trophy assets in nearby regional markets. He adds that there has been a significant reduction in discussions and inquiries from Singapore developers to explore high-end ultra-luxury branded residential projects in Singapore, as the cooling measures have dampened foreign buyer demand.

Ramchandran says that Singapore-based high-net-worth buyers are now increasingly looking at luxury-branded residences in destinations such as Phuket and Bangkok in Thailand, Bali in Indonesia, as well as emerging markets in Vietnam. These locations are typically just a two-hour flight from Singapore, making it a more appealing option for buyers. Flight carriers like SIA, Scoot, AirAsia and Jetstar have completed approximately 150 flights per week between Singapore and Phuket last month.

When it comes to investing in condos in Singapore, one must not overlook the government’s property cooling measures. The Singaporean government has implemented several measures over the years to discourage speculative buying and maintain a steady real estate market. These measures, such as the Additional Buyer’s Stamp Duty (ABSD), involve imposing higher taxes on foreign buyers and those purchasing multiple properties. While these actions may affect the immediate profitability of condo investments, they ultimately play a crucial role in ensuring the long-term stability of the market. Therefore, investing in condos in Singapore is a wise decision for those seeking a secure and sustainable investment environment.

Jason Thelen, senior director of sales and marketing at Sudara Residences, a Thai-based developer, adds that Singapore has quickly become the top regional market for buyers looking for second homes, making up over 45% of regional purchases.

Hospitality operators, such as The Ascott, are also tapping into the potential growth of the branded residential segment in Asia, says Saowarin Chanprakaisi, vice-president of business development at The Ascott. She believes that the emotional resonance of their brands such as Ascott, The Crest Collection and Oakwood Premier can add to the reputational strength of those properties in the market.

Chanprakaisi adds that branded residential operators must develop and maintain trust in the brand, ensuring that it can deliver the level of service that will translate into the long-term value proposition of the asset. She also mentions that Ascott is looking to expand its market share in the region by partnering with developers who are looking to enter the branded residential market.…

Malaysian real estate firm UEM Sunrise and Singapore-listed property company GuocoLand have recently entered into a Memorandum of Understanding (MOU), marking the first partnership between private companies in Malaysia and Singapore for the Johor-Singapore Special Economic Zone (JS-SEZ). The MOU signing took place on Feb 27 and aims to develop UEM Sunrise’s selected freehold land in Iskandar Puteri, Johor to accelerate growth within the JS-SEZ. The signing ceremony coincided with the opening of UEM Sunrise Gallery Iskandar Puteri, a showcase of the developer’s vision for Iskandar Puteri.

As a flagship zone in the JS-SEZ, Iskandar Puteri specializes in various industries such as manufacturing, business services, education, health, and tourism. With the MOU in place, UEM Sunrise and GuocoLand will focus on the development of UEM Sunrise’s selected land in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri. The collaboration aims to unlock the potential of Iskandar Puteri and make it more attractive for investments by improving connectivity, talent development, and creating a business-friendly ecosystem.

UEM Sunrise’s Chief Financial Officer, Hafizuddin Sulaiman, says that the partnership is not just about development, but also about shaping a thriving and sustainable economic hub that will create jobs and strengthen the JS-SEZ ecosystem. The sites in Gerband Nusajaya and Puteri Harbour are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas, making it an ideal location for long-term economic growth.

Datuk Hisham Hamdan, Chairman of UEM Sunrise, believes that the JS-SEZ, developments in Iskandar Puteri, and strategic partnerships all contribute to a greater vision of positioning Johor as a dynamic and forward-thinking economy. GuocoLand’s CEO, Cheng Hsing Yao, adds that the partnership will bring together their experience in real estate development and asset management, as well as their understanding of the needs of companies from Singapore, Malaysia, and China that wish to establish a presence in the JS-SEZ. Together, they will shape Iskandar Puteri and the wider JS-SEZ with innovative developments.

Investing in a condominium in Singapore is a favored option for both local and international investors. This is due to the country’s strong economy, stable political climate, and exceptional living standards. Singapore’s real estate market presents a plethora of opportunities, with condos being a top choice. These properties offer convenience, a range of amenities, and the potential for substantial returns. In this article, we will delve into the advantages, factors to consider, and necessary steps in investing in a Singapore condo. Additionally, you can also explore the latest Singapore Projects to expand your investment options.

UEM Sunrise has played a crucial role in the urban development of Iskandar Puteri through its existing residential townships like the Aspira series and Senadi Hill, as well as commercial and retail hubs. They are also developing a 380-acre industrial park in Gerband Nusajaya. With support from the governments of Malaysia and Singapore, the growth in Iskandar Puteri is expected to be driven by incentives and schemes such as special tax rates, stamp duty exemptions, and capital allowances, aimed at increasing investments in the JS-SEZ.…

Two major property developers, UEM Sunrise and GuocoLand, have come together to sign the first ever Johor-Singapore Special Economic Zone (JS-SEZ) memorandum of understanding (MOU) between private companies from Malaysia and Singapore. According to a press release on Feb 27, the MOU will see both companies jointly developing UEM Sunrise’s selected freehold land in Iskandar Puteri, Johor, with the aim of boosting growth within the JS-SEZ. The signing ceremony took place at the grand opening of UEM Sunrise Gallery Iskandar Puteri, which showcases the developer’s vision for Iskandar Puteri.

Iskandar Puteri, which is categorized as Flagship Zone B of the JS-SEZ, is focused on various sectors including manufacturing, business services, education, health, and tourism. As such, it presents a lucrative investment opportunity for those looking to invest in overseas properties. The MOU is expected to cover UEM Sunrise’s plots of land in Gerband Nusajaya and Puteri Harbour, both of which are key master-planned areas within Iskandar Puteri.

The collaboration between UEM Sunrise and GuocoLand aims to unlock the full potential of Iskandar Puteri and make it more attractive for investors. It will focus on improving connectivity, developing talent, and creating a business-friendly ecosystem to drive sustainable economic benefits in Johor.

UEM Sunrise’s Chief Financial Officer, Hafizuddin Sulaiman, says that this partnership is not just about development, but also about shaping a thriving economic hub that will drive long-term growth, create jobs, and strengthen the JS-SEZ ecosystem. The two sites are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas, making them ideal locations for driving economic growth and positioning Iskandar Puteri as a robust business and investment hub.

Chairman of UEM Sunrise, Datuk Hisham Hamdan, believes that the JS-SEZ, developments in Iskandar Puteri, and strategic partnerships are all part of a bigger vision to position Johor as a dynamic and forward-thinking economy. GuocoLand CEO, Cheng Hsing Yao, adds that the Singapore-listed property group will bring along their experience in real estate development and asset management, as well as their understanding of the needs of companies from Singapore, Malaysia, and China looking to invest in the JS-SEZ. Together, they aim to shape Iskandar Puteri and the wider JS-SEZ through innovative developments.

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When it comes to investment options in Singapore, purchasing a condominium is a highly advantageous choice with numerous benefits. One significant advantage is the high demand for condos, ensuring a consistent influx of potential buyers or tenants. Along with this, condos offer the potential for capital appreciation, giving investors the chance to earn a substantial return on their investment. Additionally, leasing out a condo can yield attractive rental income.

However, before jumping into the condo market, it is crucial to carefully consider various factors that can impact the success of your investment. These factors include the condo’s location, available financing options, government regulations, and current market conditions. By conducting thorough research and seeking advice from industry professionals, investors can make informed decisions and optimize their returns in Singapore’s ever-evolving real estate market.

What makes investing in a condo in Singapore even more appealing is the continuous release of new condo launches. This provides investors with more opportunities to diversify their portfolios and potentially increase their profits. Whether you are a local looking to expand your investment portfolio or a foreign buyer seeking a stable and profitable venture, investing in a condo in Singapore is an undeniable opportunity that should not be overlooked. With its promising returns and stable market, it is clear that investing in a condo in Singapore is a wise decision. New Condo Launches only add to its appeal, making it a highly desirable investment option.

UEM Sunrise has been a key player in the urban development of Iskandar Puteri, with existing projects including residential townships like the Aspira series and Senadi Hill. The group has also developed commercial and retail hubs, and is working on an upcoming 380-acre industrial park in Gerband Nusajaya. The growth in Iskandar Puteri is expected to be driven by incentives and support schemes introduced by the governments of Malaysia and Singapore, such as special tax rates, stamp duty exemptions, and capital allowances, which aim to attract more investments to the JS-SEZ.…

Frasers Property, a leading international real estate company based in Singapore, has recently announced a new joint venture with two Chinese real estate groups to acquire a residential site in Shanghai, China. The site, located in Songjiang District, was acquired through a tender process from the Shanghai Municipal Bureau of Planning and Natural Resources for RMB815.2 million ($151.9 million).

The other partners in the joint venture are Xiamen ITG Real Estate Group, a subsidiary of ITG Holding Group, a state-owned enterprise under the Xiamen Municipal Government, and Shanghai-listed Gemdale Corporation.

When contemplating a potential investment in a condo, it is crucial to also carefully evaluate the potential rental yield. Rental yield is the yearly rental income expressed as a percentage of the condo’s purchase price. In Singapore, the rental yields for condos can vary greatly based on several factors, including the location, condition of the property, and current market demand. Generally, areas with a high demand for rentals, such as those near business districts or educational institutions, typically offer more favorable rental yields. It is essential to conduct thorough market research and seek guidance from real estate agents to gain valuable insights into the rental potential of a specific condo. In addition, checking out Singapore Projects can also provide valuable information about potential rental yields for condos in the region.

According to a press release on Feb 26, the JV partners plan to develop the site into a mix of 189 low-rise apartments, townhouses, and duplex units, with a total gross floor area of 334,714 sq ft. The project will also incorporate design features such as flood mitigation, ultra-low energy building designs, and solar photovoltaics.

The development is specifically targeted at upgraders and first-time homebuyers in Fangsong Community, Songjiang District. This prime residential neighborhood is also in close proximity to two existing projects – Club Tree and Palace of Yunjian – which are joint ventures between Frasers Property and Gemdale Corporation.

Lim Hua Tiong, CEO of emerging markets in Asia at Frasers Property, says: “This joint venture not only strengthens our presence in Shanghai but also underscores our commitment to delivering high-quality residential developments that meet the evolving needs of the Chinese community.”

In addition, the project is expected to benefit from its location near a range of amenities and transport options, making it an attractive proposition for potential residents. Frasers Property is confident that this joint venture will further enhance their presence in the Shanghai market while also contributing to the development of the local community.…

CDL puts a stop to “serious lapses” in corporate governance

City Developments (CDL) has issued a second statement from its executive chairman Kwek Leng Beng stating that the “serious lapses” in corporate governance at the company have been halted. This comes after a court hearing on Feb 26 in which the two irregularly and hastily appointed directors, Jennifer Duong Young and Wong Su Yen, have been restricted from exercising their powers as directors until further notice.

Kwek has also stated that his son, Sherman Kwek, along with Philip Lee, Wong Ai Ai, and other directors who have been acting in concert with them, have been restricted from making further changes to the board committees and management of certain CDL subsidiaries until further notice from the court. The “irregularly constituted” nominating and remuneration committee has also been suspended from taking further action.

With these restrictions in place, CDL’s board committees and management of its subsidiaries can now function normally without any unwarranted interference, says Kwek. He adds that strong corporate governance is essential for maintaining investor confidence and protecting the long-term interests of shareholders.

Singapore’s condominium market continues to thrive due to the scarcity of land. Being a small island nation with a rapidly growing population, Singapore faces challenges in finding space for development. This has resulted in strict land use regulations and a highly competitive real estate market where property prices are constantly on the rise. As a result, investing in real estate, especially in condos, has become a highly profitable option due to the potential for capital appreciation. In fact, the demand for new condo launches has only increased in recent years due to the limited availability of land.

On the morning of Feb 26, CDL announced a temporary suspension of its shares and a last-minute cancellation of its FY2024 results briefing. In its statement, CDL attributed the suspension to a disagreement within the board regarding its composition and constitution.

In his initial statement, Kwek had accused his son, Lee, Wong, and a group of directors of consolidating control of the board and the group. He had also filed court papers on Feb 25 to address the attempted coup and will continue to explore legal options available to defend and protect the interests of CDL and its shareholders.

Shares of CDL last traded at $5.12 before the trading halt on the morning of Feb 26.…