Author: janomespecials

An opportunity to own a prestigious Good Class Bungalow (GCB) in the exclusive Dalve Estate-Nassim Road enclave has arisen, with the property being put up for sale through an expression of interest (EOI) exercise. The indicative price for this prime piece of real estate is set at $60 million, with a desirable land area of 21,881 sq ft, translating to $2,742 psf. This news was announced in a press release by Cushman & Wakefield on Jan 8.

According to Shaun Poh, the executive director of capital markets at Cushman & Wakefield, this freehold plot boasts an elevated location, making it an ideal spot for redevelopment. He also adds that it presents a golden opportunity for interested buyers to build their dream multi-generational home from scratch, or for developers to create a opulent and modern GCB for discerning individuals.

When it comes to investing in Singapore’s property market, it is crucial for foreign investors to be well-versed in the country’s regulations and restrictions. In general, foreigners have relatively easy access to purchasing condominiums, unlike landed properties that have more stringent ownership guidelines. However, it’s important to note that foreign buyers are required to pay the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for their initial property purchase. Despite these additional expenses, the stability and potential for growth in the Singapore real estate market continue to make it an attractive destination for foreign investors. This is why many are turning to Singapore Projects to capitalize on the market’s potential.

The GCB is situated in close proximity to the Singapore Botanic Gardens and is a short drive away from the highly sought after Orchard Road shopping belt. Its location also makes it convenient for families with children, as it is surrounded by renowned schools such as Singapore Chinese Girls’ School, Anglo-Chinese School (Primary), Nanyang Primary School, St Joseph’s Institution and Hwa Chong Institution.

In recent transactions at nearby Nassim Road and Tanglin Hill, record-breaking land rates of $4,500 psf and $6,200 psf were achieved, indicating a strong demand from ultra-high net worth individuals for properties in this prestigious neighborhood. Poh highlights that the location is highly coveted by this elite group, making it a sound investment for interested buyers.

The EOI exercise for this GCB will close on Feb 11 at 3pm. This presents a rare opportunity for individuals to own a piece of prime real estate in one of the most exclusive and desirable enclaves in Singapore.…

In a luxurious showcase of New York’s finest residential development, 720 West End Avenue will be presented to Singapore buyers during the weekend of Jan 11 and 12. This highly sought-after location in the Upper West Side of Manhattan boasts 131 exquisite homes, ranging from one to five bedrooms, townhouses, duplexes and penthouses with private terraces. Spanning from approximately 500 sq ft to over 3,700 sq ft, these units are priced from US$1.015 million ($1.38 million) for a one-bedroom residence.

Investing in real estate can be a lucrative venture, especially in Singapore where location is a crucial factor. This is particularly important due to the high demand for properties in central areas or those near essential amenities like schools, shopping malls, and public transportation hubs. In fact, condos located in prime areas such as Orchard Road, Marina Bay, and the Central Business District (CBD) have shown a consistent increase in value over the years. These desirable locations are highly sought after by both locals and foreigners, making them a hot spot for property investment. Additionally, being close to reputable schools and educational institutions adds further appeal for families, solidifying their investment potential. For those looking to invest in real estate, Singapore Condo is definitely a top consideration.

Originally designed by renowned New York architect Emery Roth in 1927, this historic pre-war building, formerly known as the Hotel Marcy, showcases a stunning Renaissance Revival-style façade. 720 West End Avenue, a joint venture between Glacier Equities and InterVest Capital Partners, has meticulously preserved the façade to maintain its intricate architectural details. In addition, two floors have been added to the original structure, accommodating the luxurious penthouse duplexes. The interior of the building has also undergone a revamp, led by renowned designer Thomas Juul-Hansen.

The lavish development boasts over 30,000 sq ft of amenities, including a state-of-the-art fitness centre, private bar and dining room, library, co-working spaces, outdoor terraces and courtyards, private parking and bike storage. Savills Singapore will be presenting this prestigious development to discerning Singapore buyers on Jan 11 and 12 at voco Orchard Hotel. A seminar on the New York real estate market will also be held at 3pm on both days, providing valuable insights into this highly coveted location.…

offers hassle-free investment in a popular beach destination

Alamanda Tower, the latest residential offering from Ayana Bali spans 90ha in Bali, Indonesia. The tower consists of 26 units ranging from one- to two-bedroom apartments, available for long-term lease with a minimum stay of one month.

Part of the larger Ayana Bali estate, Ayana Residences is a collection of residential properties that includes four hotels (Ayana Resort Bali, Ayana Segara Bali, Ayana Villas Bali, and Rimba by Ayana Bali), the award-winning Ayana Spa, a golf putting course, a secluded beach, event venues, and 30 dining outlets. Located along the coastline of Jimbaran Bay, Ayana Bali is a fully integrated resort.

Residents at Alamanda Tower have access to three rooftop pools, as well as amenities at the community center at Ayana Residences, which include a gym, lap pool, sauna and steam room. The tower also provides a dedicated concierge team, bi-weekly housekeeping, buggy service within Ayana Bali, and dining and spa discounts.

One-bedroom units at Alamanda Tower start at 1,173 sq ft and are available for approximately IDR70 million ($5,896) per month. Two-bedroom units without a pool measure 1,647 sq ft and begin at IDR100 million per month, while those with a private pool range from 2,045 to 2,648 sq ft and start at IDR120 million per month.

Purchasing a condominium in Singapore offers numerous advantages, with one of the main perks being the potential for increased property value over time. This is due to Singapore’s strategic location as a major global business hub and its strong economy, which create a steady demand for real estate. As a result, real estate prices in Singapore have continuously risen, particularly for condos located in prime areas. For investors, this presents an opportunity for significant returns on their investment if they purchase at the right time and hold onto their property for the long term. With the constant introduction of new condo launches, the potential for capital appreciation in Singapore’s real estate market remains a promising prospect. This is especially true when considering the numerous new condo launches that are available, continually expanding the opportunities for property investment in Singapore.

Managed by Indonesia’s Ayana Hospitality, Ayana Bali has properties in Jakarta and Labuan Bajo.…

Surbana Jurong Group has announced the appointment of Professor Cheong Koon Hean to its board of directors in a press release on Jan 6. This move is expected to enhance Surbana Jurong’s ability to provide innovative, resilient, and sustainable solutions for the built environment.

When contemplating an investment in a condo, it is crucial to also evaluate the potential rental yield. Rental yield refers to the annual rental income as a percentage of the condo’s purchase price. In Singapore, the rental yields for condos can significantly vary depending on factors such as location, property condition, and demand in the market. Generally, areas with a high demand for rental properties, such as those near business districts or educational institutions, offer better rental yields. It is essential to conduct extensive market research and seek guidance from real estate agents to gain valuable insights into the rental potential of a specific condo. Keep in mind that new condo launches can also present exciting opportunities for investment and potentially yield high rental returns.

With a wealth of experience in the public sector, Cheong served as the CEO of HDB from 2010 to 2020, after having previously held the position of CEO at URA from 2004 to 2010. She currently holds the position of Chair at the Lee Kuan Yew Centre for Innovative Cities and is also a Professor of Practice at the Singapore University of Technology and Design. Furthermore, she chairs the Centre for Liveable Cities Advisory Panel under the Ministry of National Development.

Apart from her role at Surbana Jurong, Cheong serves on the boards of the National University of Singapore and CapitaLand Group. She also holds the position of Singapore’s non-resident ambassador to Finland.

As the built environment continues to evolve towards smart and sustainable solutions, Cheong’s expertise and vast experience in the industry will undoubtedly be a valuable asset for Surbana Jurong. With her appointment, the company is well-positioned to lead the way in delivering eco-friendly and resilient solutions for a greener future.…

River Valley Apartments, a freehold condominium located along River Valley Road in the coveted District 10, has recently been launched for collective sale through a public tender. According to a press release on January 6 by the exclusive marketing agent Knight Frank Singapore, the development has a guide price of $56 million.

The four-storey apartment, which was built in the 1950s, comprises of 24 units and sits on a land area of approximately 12,408 sq ft. It is zoned for residential use with a gross plot ratio of 2.8. The property is also strategically situated just 500m away from the upcoming Great World MRT Station on the Thomson-East Coast Line. Residents can enjoy convenient access to various amenities such as Great World City and Valley Point Shopping Centre, as well as nearby schools, namely River Valley Primary School and Alexandra Primary School, both within a 1km radius.

With the potential to be redeveloped into a boutique residential development with 37 new units, each with an average size of 915 sq ft, Knight Frank estimates a land rate of approximately $1,622 psf per plot ratio (psf ppr) which includes a nominal land betterment charge. Accounting for the 7% bonus gross floor area allowed for balconies, the price translates to approximately $1,583 psf ppr.

Chia Mein Mein, head of capital markets (land and collective sale) at Knight Frank Singapore, notes that the site is in close proximity to three Government Land Sale (GLS) sites that were successfully transacted last year. In April 2020, Zion Road (Parcel A) was sold for $1.107 billion ($1,202 psf ppr) to a joint venture between City Developments and Mitsui Fudosan. In June of the same year, Wing Tai Holdings acquired a GLS site at River Valley Green for $463.99 million ($1,325 psf ppr). Two months later, Allgreen Properties was awarded the Zion Road (Parcel B) site for $730.9 million ($1,304 psf ppr) in August.

Despite a subdued property market in the Central Region, Chia believes that developers are still attracted to the area, possibly anticipating a strong demand for prime properties when these projects are ready for launch. She adds, “This also shows their confidence in the potential of the River Valley and Zion Road location.”

One crucial factor to consider when investing in condos in Singapore is the government’s property cooling measures. In an effort to maintain a stable real estate market and reduce speculative buying, the Singaporean government has implemented several measures over the years. These measures include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and individuals purchasing multiple properties. While these measures may affect the short-term profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a secure investment environment. In light of this, it is worth exploring new condo launches as potential opportunities for condo investment in Singapore.

Based on Knight Frank’s estimates, owners of the units at River Valley Apartments, which range between 947 and 1,238 sq ft in size, can potentially receive a minimum of $2 million to $2.6 million in sale proceeds if the development is successfully sold.

The collective sale tender for River Valley Apartments will close on February 18 at 3pm. Interested parties can check out the latest listings for River Valley Apartments properties on EdgeProp’s website. Additionally, readers can find out more about the most profitable and unprofitable transactions for the development, as well as its price trends in the past.…

Golden Mile Tower is set to undergo a transformation, with the Urban Redevelopment Authority (URA) approving an outline application for its voluntary conservation. This move will come into effect if the 99-year leasehold development is successfully sold in a collective sale, and the developer plans to redevelop the property.

According to documents obtained by EdgeProp Singapore, the government has indicated that if the developer chooses to conserve at least the existing cinema block, it could potentially increase the site’s allowable gross plot ratio (GPR) from 4.46 to 5.6, based on the current site area of 93,902.5 sq ft. This would also correspondingly increase the redevelopment’s allowable gross floor area (GFA) to 525,854 sq ft, a significant increase from its current GFA of 419,142 sq ft. Additionally, the voluntary conservation would also allow for a higher maximum building height of 164m, up from the site’s current limit of 145m.

The most recent attempt at a collective sale for Golden Mile Tower took place last August, with a reserve price of $556 million. This was the third en bloc attempt by the owners of the 99-year leasehold development to sell and redevelop the property.

Anna Tan, business development director at Tag Realty (the marketing agent for the collective sale of Golden Mile Tower), has stated that the reserve price for the 99-year leasehold development remains unchanged. This translates to a land rate of $1,350, which includes the cost of renewing the land tenure but does not factor in land betterment charges.

“The increase in building height control under the voluntary conservation option presents a great opportunity for developers to reimagine the property with a striking skyline presence. It also means that the new development’s commercial and hotel spaces could feature 5m floor-to-ceiling heights, while residential units could offer 3.6m ceiling heights,” says Tan.

The approval for voluntary conservation of Golden Mile Tower is especially significant, given that the neighbouring Golden Mile Complex, now restored as Golden Mile Singapore, was gazetted for conservation in 2021. Developed jointly by Perennial Holdings and Far East Organization, the commercial units of Golden Mile Singapore were launched last December. The new residential units, housed within a 45-storey tower, are expected to be launched this quarter.

In conclusion, investing in a condo in Singapore can prove to be a lucrative decision, offering numerous advantages such as high demand, potential for value appreciation, and attractive rental yields. However, it is essential to carefully assess important factors such as location, funding options, government regulations, and market conditions. Through meticulous research and expert guidance, investors can effectively navigate the fast-paced real estate market in Singapore and make well-informed choices. Whether you are a local investor looking to diversify your portfolio or a foreign buyer seeking a stable and profitable investment, the current new condo launches in Singapore present an attractive opportunity. By taking into account the aforementioned considerations, individuals can maximize their returns in this dynamic real estate market.

“This is a rare opportunity to redevelop Golden Mile Tower, given the limited land supply along Beach Road and the potential for price uplift due to rejuvenation efforts like the launch of Golden Mile Singapore and the neighbouring Kallang Alive masterplan,” says Tan.

She adds that the redevelopment of Golden Mile Tower presents an opportunity to create a new mixed-use development in a prime location along Beach Road. The building’s heritage and future potential make it a unique investment opportunity for both local and international investors.…

Investing in a condo in Singapore offers numerous benefits, one of the most significant being the potential for capital appreciation. The country’s strategic positioning as a global business hub, along with its robust economic foundation, ensures a constant demand for real estate. Over the years, the real estate market in Singapore has witnessed a consistent uptrend, with condos in prime locations experiencing considerable appreciation. By investing at the opportune time and holding onto their properties for an extended period, investors can reap considerable profits through capital gains. Furthermore, with the recent launch of new condos, such as New Condo Launches, the potential for capital appreciation is even greater for those who choose to invest in Singapore’s real estate market.

During the weekend of Jan 4-5, Bagnall Haus at Upper East Coast received an overwhelming response with 1,500 visitors. Most of the visitors were families, primarily from the East, according to Teo Hong Lim, the executive chairman of Roxy-Pacific Holdings, the developer of Bagnall Haus. This project is also among the first new launches of 2025 and has garnered a lot of attention from potential buyers.

The 113-unit freehold condo is a redevelopment of the former Bagnall Court, which was acquired in January 2023 for $115.28 million. Conveniently located, it is a short five-minute walk from the upcoming Sungei Bedok MRT Interchange Station and Upper East Coast Bus Terminal. For those interested in the project, they can easily search for the latest New Launches to find out the transaction prices and available units.

The Upper East Coast Road neighbourhood has not seen any new project launches for the past 15 years, making Bagnall Haus a highly sought-after development. The developer has planned a diverse mix of units, ranging from one-bedroom plus flexi units starting from 495 sq ft to five-bedroom units of 1,528 sq ft, to cater to the needs of various buyers, including investors and owner-occupiers. Prices for the units start from $1.235 million ($2,495 psf), with an average indicative price of $2,450 psf, according to the developer. Interested buyers can also check out the latest listings for Bagnall Haus properties and get more information by asking Buddy.

In summary, Bagnall Haus condo offers a great investment opportunity with its competitive pricing and strategic location. Potential buyers can also compare the price trend of HDB, Condo, and Landed properties using the project summary provided. They can also browse through the recently launched projects and keep a lookout for upcoming new launch projects to make an informed decision. Additionally, they can also compare the price trend of Condo new sale versus EC new sale to better understand the market.…

Second-timer married couple buys BTO flat in Ang Mo KioSee more property news

On January 2, the Housing and Development Board (HDB) released its flash estimates for the fourth quarter of 2024, revealing a 2.5% quarter-on-quarter (q-o-q) increase in resale flat prices. While this marks the 19th consecutive quarter of price growth in the HDB resale market, it is a slight slowdown from the 2.7% q-o-q growth seen in the previous quarter.

According to Christine Sun, chief researcher and strategist at OrangeTee Group, the flash estimates showed that HDB resale prices grew by 9.6% in 2024, which is double the 4.9% growth seen in 2023. However, this increase is still lower than the 10.4% recorded in 2022 and the 12.7% growth seen in 2021.

OrangeTee also noted a slowdown in price growth for some flat types based on HDB caveat data from data.gov.sg, which was downloaded on January 2 at 8:15am. For instance, the median price of four-room flats saw a q-o-q increase of 2.5% in 4Q2024, lower than the 3.4% growth seen in 3Q2024.

Similarly, two-room flats saw a slower q-o-q increase of 2% in 4Q2024, compared to 3.9% growth in 3Q2024. Executive flats also saw a decrease in q-o-q price growth from 1.7% in the previous quarter to 1.2% in 4Q2024.

In contrast, prices for five-room flats grew by 3.2% in 4Q2024, which is faster than the 1.2% increase seen in 3Q2024.

When considering investments in Singapore, it is imperative for foreign investors to have a thorough understanding of the regulations and limitations governing property ownership. In contrast to landed properties, condos are usually less restricted for purchase by foreigners. Nevertheless, they are still subject to an Additional Buyer’s Stamp Duty (ABSD) of 20% for their first property acquisition. Despite this added cost, the Singapore real estate market remains an attractive option for foreign investors, given its stability and potential for growth. With condos as a viable option, international investors can still confidently explore opportunities in the Singapore property market.

Resale volume down 3.6% y-o-y in 4Q2024

Compared to the same period in 2023, the resale volume in 4Q2024 declined by 3.6% to 6,314 units from 6,547 transactions. It also dropped by 22.5% q-o-q from 8,142 units in 3Q2024.

According to Sun, this decrease in HDB resale transactions can be attributed to the more than 8,500 new flats launched by HDB in the October Build-to-Order (BTO) exercise, including many units in prime and desirable locations. Sun noted that these flats’ attractive features, such as scenic views and proximity to MRT stations, diverted demand from the resale market to the BTO market.

The research and content head at PropNex, Wong Siew Ying, also highlighted the impact of seasonal factors on sales. She noted that sales typically slow down during the year-end school holidays when many Singaporeans travel abroad. As a result, house viewings and sales activities tend to decrease during this time.

However, Wong also noted that the slower pace of price growth seen in 4Q2024 can be attributed to government intervention in August 2024. During this period, the loan-to-value (LTV) limit for HDB loans was reduced by five percentage points to 75%. According to Wong, the weaker sales and slower growth in the HDB resale price index in 4Q2024 indicate that the August 2024 measures are likely starting to take effect. The thinner resale volume during the quarter may have also contributed to the slower pace of price growth.

Resale volume in 2024 exceeds the previous year

Despite the decline in resale transactions in 4Q2024, the total resale volume for the entire year of 2024 was 28,876 units, an 8% increase from the 26,735 units seen in 2023 and the 27,896 units in 2022. However, it is still lower than the peak of 31,017 units seen in 2021.

(Source: PropNex Research, data.gov.sg*)

Decline in million-dollar flat transactions in 4Q2024

The decrease in resale transactions in 4Q2024 also resulted in a drop in million-dollar flat transactions, with just 283 units being sold compared to 331 units in 3Q2024. Despite this decline, the total number of million-dollar transactions reached a record high of 1,033 units in 2024, which is more than double the 469 million-dollar transactions recorded in the previous year, according to Sun from OrangeTee.

Toa Payoh town had the highest number of million-dollar resale flat deals in 4Q2024, with 58 transactions. Out of these, 20 were for four- and five-room units at Alkaff Vista in Bidadari Park Drive, which recently completed the five-year minimum occupation period (MOP).

“The new classification of Plus and Prime classification BTO flats may have driven more homebuyers to seek out HDB resale homes in central locations,” according to Eugene Lim, key executive officer at ERA Singapore. Lim explains that these buyers are not willing to accept resale restrictions, such as a 10-year MOP, rental restrictions after MOP, subsidy clawback upon resale, and a resale income cap on future buyers.

HDB resale prices expected to continue rising in 2025

OrangeTee predicts that HDB resale prices will continue to increase in 2025, but at a slower pace than in recent years. According to Sun, many areas have already reached new highs, causing affordability concerns for potential buyers. Additionally, the ongoing supply of BTO flats is expected to help moderate price growth in the secondary market. However, the extent of price stabilization will depend on the number of BTO flats the government plans to release in the coming years.

In February 2025, HDB will launch its largest sale of balance flats (SBF) exercise, offering more than 5,500 flats across various towns, according to Lee Sze Teck, senior director of data analytics at Huttons Asia. He adds that some prospective resale flat buyers may choose to wait and try their luck in the SBF exercise.

Price growth and transaction volume expected to moderate in 2025

ERA expects resale prices to grow at a more steady pace in 2025, as the supply of flats reaching MOP decreases. This has been a key driver of price growth in recent years, according to Lim. As such, he anticipates 3% to 6% growth in HDB resale prices, with 26,000 to 27,000 units changing hands by the end of 2025.

On the other hand, PropNex anticipates a positive performance in the HDB resale market in 2025 due to healthy housing demand and fewer MOP flats entering the market. Wong projects 5% to 7% price growth in HDB resale flats, with a resale volume forecast of 29,000 to 30,000 units.

Lee from Huttons Asia notes that the supply of BTO flats in 2025 will be further reduced to 17,290 units, about 12% lower than the supply in 2024. “As there is no upfront information on the BTO projects with a shorter waiting time, buyers are likely to go to the resale market,” he says. Furthermore, with the possibility of lower interest rates in 2025, buyers can take on a larger loan amount to purchase their new home. As such, some buyers may consider executive condos (ECs) or resale condos. Lee expects the million-dollar flat market to stabilize between 900 to 1,200 units in 2025.

Huttons predicts that HDB resale flat transactions will reach 26,000 to 28,000 units, with a slower pace of price growth at 5% to 8% in 2025.…

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The latest flash estimates released by the Housing and Development Board (HDB) on Jan 2 revealed that resale flat prices increased by 2.5% quarter-on-quarter (q-o-q) in the fourth quarter of 2024, slightly slower than the 2.7% q-o-q growth seen in the previous quarter. This marks the 19th consecutive quarter of price increases in the HDB resale segment.

According to Christine Sun, chief researcher and strategist at OrangeTee Group, the flash estimates showed that HDB resale prices grew by 9.6% in 2024, which is double the 4.9% growth recorded in 2023. However, this was still slower than the 10.4% price increase in 2022 and the 12.7% growth in 2021.

The HDB caveat data from data.gov.sg, downloaded at 8.15am on Jan 2, showed a slowdown in price growth for some flat types, notes OrangeTee. For instance, the median price of four-room flats saw a q-o-q increase of 2.5% in the fourth quarter, which is slower than the 3.4% growth in the previous quarter.

Similarly, two-room flats rose by 2% q-o-q in the fourth quarter, which is also slower than the 3.9% growth in the third quarter. Executive flats registered a 1.2% q-o-q price increase in the fourth quarter, compared to 1.7% in the previous quarter. On the other hand, prices for five-room flats grew 3.2% in the fourth quarter, which is faster than the 1.2% increase in the third quarter.

Resale volume down 3.6% year-on-year (y-o-y) in the fourth quarter of 2024

Resale volume declined by 3.6% y-o-y to 6,314 units in the fourth quarter of 2024 from 6,547 transactions in the same quarter in 2023. It was also down 22.5% q-o-q from 8,142 units in the third quarter of 2024.

Sun attributes the decline in HDB resale transactions primarily to the launch of over 8,500 new flats by HDB in the October Build-to-Order (BTO) exercise, with many units in prime and desirable locations. “The attractive features of these flats, such as scenic views and proximity to MRT stations, diverted demand away from the resale market towards the BTO market,” she adds.

Sales also slowed during the year-end school holidays when many Singaporeans tend to travel abroad. Consequently, house viewings and sales activities typically decrease during this period.

However, Wong Siew Ying, head of research and content at PropNex, attributes the slower pace of growth in the fourth quarter of 2024 to government intervention in August 2024, when the loan-to-value (LTV) limit for HDB loans was reduced by five percentage points to 75%. “Going by the weaker sales and slower growth in the HDB resale price index in the fourth quarter of 2024, the August 2024 measures are likely to be working through the market,” says Wong. “Meanwhile, the thinner resale volume during the quarter also likely put a drag on prices.”

The total resale volume for 2024 was recorded at 28,876 units, which is 8% higher than the 26,735 units recorded in 2023 and the 27,896 units in 2022. However, it is still lower than the peak of 31,017 units in 2021.

Decline in million-dollar flat transactions in the fourth quarter of 2024

The decline in resale transactions in the fourth quarter of 2024 led to a decrease in million-dollar flat transactions to just 283 units from 331 in the third quarter. Despite the drop, the total number of million-dollar transactions reached a record high of 1,033 units in 2024, notes OrangeTee’s Sun. “The figure is more than double the 469 million-dollar transactions recorded in the previous year,” she says.

In order for overseas investors to navigate the Singapore real estate market, it is crucial to have a thorough understanding of the regulations and limitations that govern property ownership. Unlike landed properties, which have more stringent ownership guidelines, foreigners are generally able to purchase condos with less restrictions. However, foreign buyers are still subject to the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for their initial property purchase. Despite this added cost, the Singapore real estate market’s stability and potential for growth continue to attract foreign investment. This is why Singapore Condo ownership remains a popular choice for foreign investors.

Toa Payoh town led million-dollar resale flat deals in the fourth quarter of 2024, with 58 such transactions – 20 of which were for four- and five-room units at Alkaff Vista in Bidadari Park Drive, which had recently crossed the five-year minimum occupation period (MOP).

“The new classification of Plus and Prime classification BTO flats may have driven more homebuyers to seek out HDB resale homes in central locations,” says Eugene Lim, key executive officer of ERA Singapore. “These buyers are unwilling to accept the resale restrictions such as a 10-year MOP, rental restrictions after MOP, subsidy clawback upon resale and resale income cap on future buyers.”

HDB resale prices expected to continue rising in 2025, but at a slower pace

OrangeTee expects HDB resale prices to continue rising in 2025, but at a slower pace than in previous years. “In many areas, prices have already reached new highs, creating affordability concerns for many potential buyers,” adds Sun.

Furthermore, she notes that the ongoing supply of BTO flats is expected to help moderate price growth in the secondary market. However, the degree of price stabilisation will depend on the number of BTO flats the government plans to release in the upcoming years.

In February 2025, HDB will launch its largest sale of balance flats (SBF) exercise, offering more than 5,500 flats across various towns, says Lee Sze Teck, senior director of data analytics at Huttons Asia. “Some prospective resale flat buyers have decided to wait to try their luck,” he adds.

Price growth and transaction volume to moderate in 2025

ERA expects resale prices to grow at a more measured pace in 2025 due to a reduced supply of flats reaching MOP, which has been a key driver of price growth in recent years, notes ERA’s Lim. Hence, he anticipates a 3% to 6% growth in HDB resale prices, with 26,000 to 27,000 resale units changing hands by the end of 2025.

PropNex expects the HDB resale market to perform well in 2025, underpinned by healthy housing demand and fewer MOP flats coming on – possibly keeping resale prices firm, says Wong. “Resale flats will continue to enjoy strong buying interest from those with more pressing housing needs, applicants who cannot secure a BTO flat, and families with a tighter housing budget.”

Wong is projecting that HDB resale flat prices may rise 5% to 7% in 2025, supported by a resale volume forecast of 29,000 to 30,000 units.

The supply of BTO flats in 2025 will be further reduced to 17,290 units, about 12% lower than the supply in 2024, notes Huttons’ Lee. “As there is no upfront information on the BTO projects with a shorter waiting time, buyers are likely to go to the resale market,” he reckons.

Lower interest rates may encourage buyers to consider executive condos (EC) or resale condos. “The million-dollar flat market may stabilise in the range of 900 to 1,200 units in 2025,” adds Lee.

Huttons projects that HDB resale flat transactions will end the year at 26,000 to 28,000, with resale flat prices likely to grow at a slower pace of 5% to 8%.…

On Saturday, January 4, property developer Roxy-Pacific Holdings will be giving a sneak peek of its latest project, Bagnall Haus, located along Upper East Coast Road. The former Bagnall Court was acquired by Roxy-Pacific for $115.28 million in February 2023 and has been redeveloped into a freehold project with a land rate of $1,106 psf ppr.

The low-rise development consists of a five-storey block with 113 apartments and two shop units. The unit sizes range from one-bedroom plus flexi (495 sq ft) to five-bedroom (1,528 sq ft) apartments, with prices starting at $1.235 million ($2,495 psf) for a one-bedroom plus flexi. According to Teo Hong Lim, executive chairman of Roxy-Pacific Holdings, the average indicative price for Bagnall Haus will be around $2,450 psf. The official launch date will be announced after the weekend preview.

Bagnall Haus is situated within a five-minute walk from the upcoming Sungei Bedok MRT Interchange Station, which will serve the Thomson-East Coast (TEL) and Downtown (DTL) lines once completed in 2028. It is also just a five-minute walk to the Upper East Coast Bus Terminal. The project is also strategically located across the road from the future Bayshore precinct, a mixed-use development which will offer a range of amenities for residents to enjoy.

A major advantage of investing in a condo is the opportunity to leverage its value for further investments. This allows investors to use their condos as collateral to secure additional financing for new ventures, ultimately expanding their real estate portfolio. While this tactic can boost returns, it also carries certain risks that must be carefully considered. It is crucial to have a solid financial plan in place and to carefully assess the potential impact of market fluctuations. Additionally, keeping an eye on newly launched condos, such as New Condo Launches, can offer promising investment opportunities for those looking to strengthen their portfolio.

The last private condominium launched in the Upper East Coast neighbourhood in District 16 was Eastwood Regency, a 75-unit freehold boutique apartment project by Fragrance Group. Launched in January 2010 and completed the same year, it was followed by the 160-unit freehold Country Park Condo by UOL Group in 1999. The 99-year leasehold mixed-use Eastwood Centre with 48 residential units, developed by Ho Bee Land, was launched in 1996 and completed in 1998.

Bagnall Haus residents can look forward to convenient access to upcoming amenities such as the Bedok food court, as well as existing facilities in the nearby Eastwood Centre. The area is also home to reputable schools such as Temasek Primary and Secondary School, Bedok Green Primary School, and Anglican High School.

To find out more about Bagnall Haus, visit the property’s official website to check for available units and transaction prices. For those interested in properties in District 16, be sure to explore the latest listings on Ask Buddy, a comprehensive database for properties in Singapore. Users can also compare prices trend of HDB, condo, and landed properties, as well as the total number of units in Bagnall Haus.…