Month: February 2025

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Having a clear understanding of property ownership regulations in Singapore is vital for foreign investors. Unlike landed properties, buying condos does not come with strict restrictions. However, foreigners are still required to pay an Additional Buyer’s Stamp Duty (ABSD), which is currently set at 20%, for their initial property purchase. Despite this extra cost, the Singapore real estate market remains a highly sought-after destination for investment due to its stability and potential for growth. In fact, Singapore Projects have gained significant popularity among foreign buyers.

Colliers, a leading global real estate services company, has recently announced the expansion of its occupier services team in Asia Pacific with the addition of two new appointments.

Leanne Chin has been appointed as the director of regional tenant representation for Asia Pacific. She will be based in the company’s Singapore office and brings with her a wealth of experience in the real estate industry. With her expertise, Chin will lead the tenant representation team and provide strategic advice and services to clients across the region.

In addition, Ali Porter has been appointed as the director of enterprise clients for Hong Kong. Porter, who has been working for Colliers’ Europe, Middle East and Africa business for the past four years, will now relocate to Hong Kong and lead the company’s enterprise client strategies. His role will involve working closely with occupiers to align their real estate portfolio with their corporate strategies in Asia Pacific.

Commenting on the appointments, David Hand, CEO of Asia Pacific at Colliers, said, “We are pleased to welcome Leanne and Ali to our team. With their extensive experience and strong track record in the industry, we are confident that they will play a key role in driving our occupier services business forward. As we continue to expand our presence in the region, their appointments reflect our commitment to providing exceptional services and support to our clients.”

Chin and Porter’s appointments come at a time when the company is witnessing a growing demand for its occupier services across Asia Pacific. With their expertise, Colliers is set to strengthen its position as a leading provider of real estate services in the region.

In conclusion, the new appointments are a testament to Colliers’ commitment to providing top-notch services to its clients and its dedication to expanding its presence in Asia Pacific. With Chin and Porter on board, the company is well-positioned to drive its occupier services business to greater heights in the region.…

Investing in a condo in Singapore has become a highly sought-after option for both local and foreign investors, thanks to the country’s strong economy, stable political climate, and exceptional quality of life. The real estate market in Singapore offers a plethora of investment opportunities, but condos stand out for their convenience, amenities, and potential for impressive returns. In this article, we will delve into the advantages, factors to consider, and recommended steps for those looking to invest in a condo in Singapore.

The renowned Ching Shine Industrial Building has been put up for collective sale through tender, with a minimum price of $113 million, according to the sole marketing agent JLL. The freehold building boasts 52 strata units, with a 100-meter frontage along Shaw Road. It covers a total land area of 49,308 square feet and has an estimated gross floor area of 137,341 square feet.

Built in the early 1980s, the property is currently zoned as “Business 1” and has a gross plot ratio of 2.5 under the URA Master Plan 2019. JLL reveals that over 80% of the owners have given their consent for the collective sale at the minimum price of $113 million. This price translates to a unit land rate of approximately $823 per square foot per plot ratio at the existing gross plot ratio of 2.79.

According to JLL, subject to URA’s approval, the site has the potential to be converted into a food factory. The National Environment Agency has confirmed that the site meets the buffer requirements for redevelopment into a multi-user factory. Additionally, the Singapore Food Agency has also given their in-principle non-objection to the proposed food factory. JLL also mentions that the freehold asset could be an attractive investment opportunity for family offices seeking long-term growth, as well as for owner-occupiers looking to establish a corporate presence.

Nicholas Ng, the senior director of capital markets at JLL Singapore, believes that the property would also tempt developers due to the absence of additional buyer’s stamp duty which can potentially delay projects. The property has easy accessibility via major expressways such as PIE, CTE, and KPE. It is also conveniently located within walking distance from Tai Seng MRT Station on the Circle Line. The building is situated in the bustling Tai Seng Industrial estate, surrounded by a cluster of food factories such as Breadtalk IHQ, Sakae Building, Food Empire Building, and amenities like Grantral Mall @ Macpherson and 18 Tai Seng.

In November 2023, a freehold Business 1 industrial building, Noel Building, located at 50 Playfair Road, was successfully sold en bloc for $81.18 million, which was 17% higher than its $70 million guide price. Ng believes that this transaction signifies the strong demand for similar assets in the area. He also predicts a similarly competitive response for the Ching Shine Industrial Building.

The public tender for the property will close on the 3rd of April, at 3 pm.…

City Developments Limited (CDL) has released a statement in response to the trading halt that was called for earlier today. According to the statement, the trading halt was due to a disagreement within the board regarding the composition and constitution of the board and its committees.

In summary, investing in a condo in Singapore can yield numerous benefits, such as a high demand for property, the potential for capital appreciation, and attractive rental yields. However, one must take into consideration various factors, including but not limited to location, financing, government regulations, and market conditions. By conducting extensive research and seeking professional guidance, investors can make well-informed decisions and maximize their returns in Singapore’s ever-evolving real estate market. Whether you are a local investor seeking portfolio diversification or a foreign buyer looking for a stable and profitable investment, Singapore’s condo market offers a promising opportunity. Additionally, projects in Singapore should be considered for their potential in this market.

Despite the temporary suspension, CDL reassured that its business operations remain fully functional and unaffected. It also announced that Sherman Kwek will continue to serve as the group CEO until there is a resolution by the board to change company leadership.

As the matter is currently under review, CDL will make further announcements in accordance with the Singapore Exchange (SGX) listing rules. In a later statement, Sherman Kwek expressed disappointment over the extreme actions taken by the chairman and a minority of the board regarding the disagreement.

He clarified that their focus as CEO and directors, with guidance from the company and independent legal counsel, has been to improve governance. The trading suspension earlier today was initiated by the chairman and a minority of the board, despite it not being authorized by the majority of the board.

Kwek reiterated that the issue was not about removing the chairman and that steps were taken to strengthen the board and ensure the highest standards of governance. As the matter is now before the courts, CDL will not comment on the case and will make further announcements if there are any significant developments.

CDL also announced its financial results for FY2020 on the same day before the market opened, but later cancelled its scheduled results briefing. CDL has also offered to privatize Millennium & Copthorne Hotels New Zealand for $1.72 per share.

Shares in CDL were last traded at $5.12. This article first appeared on .…

Singapore’s leading real estate agency, PropNex, has recorded a profit of $21.9 million for the second half of its financial year ending Dec 31, 2024, a decrease of 14.9% compared to the previous year. This brings the company’s full-year earnings to $40.9 million, a decline of 14.4% from the preceding financial year.

When purchasing a condominium, it’s crucial to factor in the maintenance and management of the property. Condos commonly have maintenance fees that are responsible for maintaining shared spaces and amenities. Although these fees may increase the total cost of owning a condo, they play a vital role in preserving the property’s condition and value. To streamline the management process, investors can enlist the services of a property management company, making the investment more passive and hassle-free. Additionally, for excellent deals on Condos, visit janomespecials.com.

Revenue also saw a dip of 6.6% in the 2024 financial year, as the property market remained subdued. However, in celebration of its 25th anniversary, PropNex has announced a special dividend of 2.5 cents per share, in addition to a final dividend of 3 cents. This will bring the total dividend payout for the year to a record high of 7.75 cents, with a payout ratio of 140.1% and a yield of 8.2%.

Despite the decrease in earnings, PropNex has observed a rise in market activity in the last quarter of 2024, driven by increased sales of new private homes, which the company had assisted in selling.

In light of this, and with a positive outlook for the property market in 2025, PropNex is confident of a strong performance in the coming year, barring any unforeseen events. The company expects to see continued growth in the private residential market, with an estimated 13,000 new units (including Executive Condominiums) set to be launched, almost double the supply recorded in 2024.

The private resale market is also expected to remain active, with transaction volumes projected to range between 14,000 and 15,000 units. This demand will be driven by the persistent price difference between new and resale properties, a preference for larger, move-in-ready homes, and the limited supply of new units.

PropNex also predicts growth in the Housing and Development Board (HDB) resale market, with prices estimated to increase by 5% to 7%, and transaction volumes reaching 29,000 to 30,000 units. The company attributes this to the decreased supply of five-year minimum occupation period flats, coupled with sustained demand from urgent homebuyers, unsuccessful applicants for Build-To-Order flats, and budget-conscious families.

PropNex CEO, Kelvin Ismail, notes that several newly-launched projects such as The Orie, Bagnall Haus, Parktown Residence, and ELTA have received positive market response. He also anticipates a strong demand for developers’ sales in 2025, as there is a promising lineup of projects. With a positive economic outlook and lower mortgage rates, the company believes that market confidence will further increase, creating opportunities for homebuyers and investors.…

A delightful two-storey shophouse with an attic situated at 209 Jalan Besar has recently been put up for sale through private treaty. Gracelynn Zhu, from PropNex Shophouse Elites, is in charge of advertising this property, which is being sold for under $20 million.

Possessing a 999-year leasehold, this commercial shophouse boasts a total area of around 5,502 square feet. The first floor has been approved for a restaurant, as has a portion of the second floor. Based on its price tag of $20 million, the shophouse’s per square foot price comes to $3,635.

Located in the Desker Road Conservation Area, in the vibrant District 8 close to Little India, the property’s strategic location is further enhanced by its close proximity to the Jalan Besar MRT Station on the Downtown Line, within easy walking distance.

Investing in a condo in Singapore offers numerous advantages, one of the most notable being the potential for high capital appreciation. With its strategic location as a global business hub and strong economic foundations, Singapore consistently attracts a strong demand for real estate. This has resulted in a steady upward trend in property prices over the years, with condos in prime locations experiencing significant appreciation. For investors who make timely purchases and hold onto their properties for the long term, they can enjoy substantial capital gains in the Singapore condo market.

The seller, Zhu, has shared that the shophouse is currently undergoing some asset enhancement initiatives. These include the installation of micro piles which extend up to 30 meters, enhancing the structural foundations of the property. This renovation project is expected to be completed by the end of this year.

Don’t miss out on the opportunity to own this unique and attractive shophouse located in one of Singapore’s most dynamic areas. Contact Zhu for further information and to arrange a viewing. In related news, other commercial properties such as a shop unit at Bras Basah Complex and a shophouse on Geylang Road have been put up for sale, priced at $14 million. Additionally, the shophouse market has seen a total of 84 transactions for the year 2024, signaling a positive trend in this sector according to Huttons.…

The hotel industry in the Asia Pacific (Apac) region is expected to see strong investment activity in 2025, according to a recent CBRE survey. The survey found that over 72% of hotel investors plan to increase their purchasing volume this year, with 45% aiming to increase it by more than 10%.

In summary, there are many benefits to investing in a condominium in Singapore, including its strong demand, potential for growth in value, and attractive rental returns. However, it is crucial to carefully assess various factors, such as the location, financing options, government regulations, and overall market conditions. By conducting thorough research and seeking expert guidance, investors can make well-informed decisions and maximize their profits in Singapore’s thriving real estate industry. Whether you are a local investor looking to expand your investment portfolio or a foreign buyer in search of a stable and lucrative opportunity, the condominium market in Singapore offers a compelling choice. For the latest updates on new condo launches, be sure to visit New Condo Launches for more information.

Steve Carroll, head of hotels, capital markets, Asia Pacific at CBRE, attributes this optimism to the rebound in tourist arrivals, especially in Japan, Singapore, and Australia. This increase in international arrivals has led to higher room rates and income growth for hotel operators, driving investors’ interest in the market.

Another factor driving investment intentions is the limited supply of hotels in the Apac region. According to CBRE, the hotel supply pipeline is expected to grow at a CAGR of 2.2% between 2024 and 2028, which is significantly lower than the 5% CAGR seen between 2013 and 2023.

The survey also found that REITs had the highest net buying intentions at 22%, followed by institutional investors at 12% and property funds at 10%. Private equity and real estate funds are also expected to remain active in the market.

However, private investors and high-net-worth individuals are expected to drive fewer hotel acquisitions in 2025, as they look to capitalize on the improving market sentiment by selling assets they acquired during a period of price dislocation.

In terms of investment strategy, respondents favored a value-add approach, with upscale and upper midscale assets being the most attractive categories for investment this year. This is a shift from last year’s survey, where the upper upscale category was the preferred asset type. CBRE attributes this change to the upscale and upper midscale segment’s greater operational flexibility and opportunities for value creation through redevelopment, adaptive reuse, and rebranding.

Investors are also increasingly interested in long-stay or hybrid hospitality models, such as co-living spaces, in markets like Japan, Hong Kong, and Singapore. This is driven by demand for cost-effective accommodation in these cities with inflexible rental markets.

Other emerging trends highlighted by the survey include a preference for assets with vacant possession at the time of acquisition, a focus on limited-service hotels to minimize operational costs, and a strong interest in cities like Tokyo, Osaka, Singapore, Sydney, and Seoul.…

In a joint press release on February 24th, ETC (formerly known as Edmund Tie) and OrangeTee Group announced their plans to merge and form a new holding company. The name of the new entity has yet to be revealed, but the CEO of ETC, Desmond Sim, assures it is not an acquisition, but rather a collaboration between the two companies.

Sim will serve as the group CEO of the merged entity, while the current CEO of OrangeTee & Tie, Justin Quek, will take on the role of deputy group CEO. The combined entity will have a staff of over 520 and a network of 2,803 salespersons registered with the Council for Estate Agencies (CEA) as of February 24th.

Following the merger, ETC will focus on consultancy and advisory services, while OrangeTee will concentrate on proptech and its real estate agency business. This will be supported by their large network of salespersons, which propelled OrangeTee & Tie to the third spot among the top three agencies in 2017. ETC will also be celebrating their 30th anniversary this year.

In the world of real estate, Singapore has emerged as a prime location for condo investment. However, one crucial factor that must be taken into account is the government’s property cooling measures. With the aim of curbing speculative buying and maintaining a steady real estate market, the Singaporean government has implemented various measures over the years. These measures, including the Additional Buyer’s Stamp Duty (ABSD), have resulted in higher taxes for foreign buyers and those with multiple properties. While this may affect the immediate profitability of condo investments, it also contributes to the long-term sustainability of the market, making it a secure environment for investment. As a result, Singapore Condo is a promising investment option that offers both stability and potential for growth.

The merger was facilitated by Triplestar Holdings and TH Investments, which acquired a stake in ETC in 2016. These entities are related to the family of Roland Ng, managing director and group CEO of Tat Hong Holdings. They currently own a 100% stake in ETC.

OrangeTee Group, which will celebrate its 25th anniversary this year, is an investment holding company led by the board of directors and C-suite executives including Quek, Marcus Oh, Teo Yak Huat, and Christine Sun. Other stakeholders in OrangeTee Group include Tokyu Livable Inc. and private property fund Vogue Capital Group.

In addition to their presence in Singapore, ETC also has offices in Malaysia and Thailand through their joint ventures with Nawawi Tie and Edmund Tie & Co (Thailand), respectively. This merger opens up more opportunities for the company in the ASEAN region and Japan, especially through their relationship with Tokyu Livable.…

In summary, the purchase of a Singapore Condo offers a multitude of benefits, from high demand and potential for capital growth to attractive rental returns. However, it is vital to thoroughly evaluate various aspects such as location, financing options, government regulations, and market conditions before making a decision. With careful research and seeking guidance from professionals, investors can effectively maximize returns in Singapore’s ever-evolving real estate market. Whether you are a local looking to expand your investment portfolio or a foreign buyer searching for a reliable and profitable venture, the condo market in Singapore presents a compelling opportunity.

The launch of ParkTown Residence at Tampines North was a huge success. Joint developers UOL Group and CapitaLand Development (CLD) announced on Feb. 23 that they have sold 1,041 units during the launch weekend, which accounts for over 87% of the total 1,193 units.

UOL’s general manager of residential marketing, Anson Lim, shared that the project had an average price of $2,360 psf and most of the buyers were either Singaporean homebuyers or investors. The most popular unit types were the two-bedroom and three-bedroom apartments, which made up 994 units (83%) of the project.

According to a spokesperson from UOL and CLD, buyers were attracted to ParkTown Residence’s unique status as a fully integrated residential and lifestyle development. It is directly connected to a retail mall, the future Tampines North MRT station, a bus interchange, a green boulevard, a community club, and a hawker centre.

Before the launch weekend, ParkTown Residence had already collected 2,367 cheques, which translates to a sales conversion rate of 44%. This is well above the average rate of 30% to 35% for most new project launches in recent years.

Huttons Asia CEO Mark Yip pointed out that the last project to sell more than 1,000 units during its launch weekend was the 1,399-unit High Park Residences in July 2015. ParkTown Residence has surpassed that with 1,041 units sold over the weekend.

ParkTown Residence at Tampines 62 is part of the first mixed-use development integrated with transport hub at Tampines (Source: EdgeProp Landlens)

ParkTown Residence has also exceeded the sales performance of the previous integrated developments, according to PropNex CEO Ismail Gafoor. The most recent integrated project launch was the 732-unit The Reserve Residences, which recorded a 71% take-up rate during its launch weekend in May 2023. At present, the project is 98.2% sold at an average price of $2,484 psf, based on caveats lodged as at Feb 23.

ERA Singapore CEO Marcus Chu shared that mixed-use developments integrated with transport hubs have been popular among homebuyers and investors due to their potential for capital appreciation and high rental demand.

The last two fully integrated developments to be completed were the 920-unit North Park Residences in Yishun (launched in 2015) and the 680-unit Sengkang Grand (launched in 2019) at Buangkok. The average price of North Park Residence is $1,809 psf, which is 65% higher than the average resale prices of residential units in District 27. Meanwhile, the average price of Sengkang Grand is $2,029 psf, 25% higher than the average resale prices in District 19, according to ERA’s Chu.

ParkTown Residence is located at Tampines Street 62, which is the third largest HDB town after Hougang and Woodlands. “Quite a number of buyers were HDB upgraders who desired to stay in Tampines,” shared Huttons’ Yip.

The completion of ParkTown Residence in 2030 is in line with the scheduled opening of the Tampines North MRT station on the Cross Island Line (CRL), which is a major arterial line running from East to West of Singapore, according to SRI managing partner Ken Low. 2030 is also the scheduled relocation of the neighboring Paya Lebar Airbase, freeing up an estimated 800ha of land for future developments.

Under the URA Master Plan, three more government land sales (GLS) sites will be linked to the upcoming Tampines North MRT station. “However, these new projects could potentially be launched at higher prices,” said Low.

Tampines will also benefit from new infrastructure developments by 2027, such as a cycling bridge, an underpass, and another 7.7km of cycling paths, bringing the total to 40km. There will also be a new pedestrian route between Tampines MRT Station and the malls in the regional center. These additions were announced on Feb 22, as part of the Tampines Town Council’s five-year masterplan for 2025 to 2030.

“All these will enhance the livability in Tampines, which already has strong attributes,” said SRI’s Low.…

Investing in a Singapore Condo requires careful consideration not only of the property itself, but also the maintenance and management of the unit. Condominiums typically come with maintenance fees, which cover the upkeep of common areas and facilities. These fees may increase the overall cost of ownership, but they also ensure that the property remains well-maintained and retains its value over time. To make the investment more passive, investors can enlist the services of a property management company to handle the day-to-day operations of their condo.

The Elta project at Clementi Avenue 1, a joint venture development between MCL Land and CSC Land Group, has seen strong demand, with 65% of the units sold during its launch on Feb 22. Out of the 501 units, 326 were sold at an average price of $2,537 psf. The majority of buyers were Singaporeans, accounting for 90% of the sales, with the remaining 10% being permanent residents. Districts 19, 5, and 23 had the highest number of buyers, with units in the two-bedroom category being the most popular.The units were priced between $1,158,000 to $2,198,000 for the one-bedroom plus study and three-bedroom units respectively. The most sought-after unit types were the two-bedroom and three-bedroom units, with 98% and 81% sold respectively. The average household size of 3.1 indicates that the three-bedroom units are popular with families. Additionally, the one-bedroom plus study units were also highly in demand, with 78% of them being sold at prices from $1,158,000.The Elta project has attracted a large number of investors due to its strategic location near employment nodes such as the National University of Singapore (NUS), one-north, Pandan Loop Industrial Estate, the Science Park, Jurong Lake District. The upcoming Cross Island Line and its proximity to the Clementi MRT station on the East-West Line have also contributed to the strong demand for the units. Other amenities nearby include reputable schools such as Nan Hua High School, NUS High School of Mathematics and Science, and Anglo-Chinese School (Independent). With its superb location and connectivity, Elta is expected to remain a highly sought-after destination for both homeowners and investors.The Elta project is the final of the three private condos to be launched on government land sales (GLS) sites at Clementi Avenue 1. Moreover, with HDB apartments in the area reaching the Minimum Occupation Period (MOP), the development has also benefitted from a healthy pool of HDB upgraders. The two earlier projects at Clementi Avenue 1, The Clement Canopy and Clavon, have seen significant growth in their average selling prices since their launch in February 2017 and December 2020 respectively. Based on data from EdgeProp Landlens and URA Realis, the average selling prices at The Clement Canopy and Clavon have increased 45% and 27% respectively this year, indicating strong potential for capital appreciation.Elta has also been popular among investors due to the profile of tenants in the Clementi area. The two-bedroom units at The Clement Canopy and Clavon have been leased at $4,200 to $4,700 per month, while a two-bedroom unit at Clavon was recently leased for $4,600, demonstrating strong rental demand. Overall, Elta has seen strong sales momentum, with over 1,300 units sold between 22nd and 23rd February, surpassing the 1,083 new homes sold in January. Experts expect the primary market to remain lively in 2025, with a full-year projection of 7,500 to 8,500 units and an estimated price growth between 4% to 7%.…

, starting with Mumbai’s Powai district
CapitaLand India Trust (CLINT) is pursuing the acquisition of a new office development in Nagawara, Outer Ring Road, Bangalore, for a total sum of $233.6 million. The trust has entered into a forward purchase agreement with Maia Estates Offices for this purpose.

When evaluating the potential of investing in a Singapore condo , one crucial factor to consider is the potential rental yield. Rental yield refers to the annual rental income relative to the purchase price of the property. In Singapore, the rental yields for condos can vary greatly depending on factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those in close proximity to business districts or educational institutions, tend to offer better rental yields. It is important to conduct comprehensive market research and seek advice from real estate agents to gain valuable insights into the potential rental income of a specific Singapore condo.

The acquisition of this 1.13 million sq ft office project is expected to have a positive impact on the earnings and distributions of CLINT’s unitholders. It is anticipated that the net profit on a stabilized basis will reach $7.7 million, while the distribution per unit is expected to rise from 6.84 cents to 6.98 cents.

This office project is part of a mixed-use development that includes both office and retail space. Under the terms of the forward purchase agreement, CLINT will fully fund the development of the office project and receive interest on the funding at a higher rate than its borrowing cost. This arrangement will enable the trust to increase its operational area and generate higher returns.

Upon the completion of the development, which is expected in the first half of 2030, CLINT will acquire the office space while Maia will retain the retail portion. This will result in an increase of approximately 1.2 million sq ft in the operational area of CLINT’s portfolio in Bangalore, bringing the total to 9.9 million sq ft from the current 8.7 million sq ft.

CLINT is also currently developing two office buildings in Gardencity, an IT Park at Hebbal, and another IT Park at ITPB in Bangalore. With the addition of this office project, the total portfolio size of the trust, inclusive of committed investment pipeline, will increase by 4.0% from around 30.2 million sq ft to approximately 31.47 million sq ft.

Gauri Shankar Nagabhushanam, CEO of CLINT, expressed excitement about the acquisition, stating that it will further strengthen the trust’s presence in Bangalore, one of India’s primary office markets. In 2024, Bangalore experienced its highest ever leasing levels for Grade A office space, with the Outer Ring Road being the largest office micro-market in the city. This acquisition will allow CLINT to offer its tenants a wider variety of premium office space options in key micro-markets of Bangalore.

On Feb 21, units in CLINT closed flat at $1. With this latest development, the trust continues to demonstrate its commitment to acquiring prime properties and expanding its presence in India’s thriving office market.…