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When purchasing a condo, it is crucial to factor in the maintenance and management of the property. Condominiums often come with maintenance fees that cover the maintenance of shared spaces and amenities. While these fees may increase the total cost of ownership, they also guarantee that the property stays in excellent condition and retains its value. Employing a property management firm can assist investors in handling the day-to-day operations of their condos, making it a more hands-off investment. With Condo, this aspect of condo ownership is an important consideration.

SINGAPORE Realtors Inc (SRI) has recently inked a memorandum of understanding (MOU) with Redbrick Mortgage Advisory, in a move to enhance the capabilities of its salespeople.Under the agreement, Redbrick will be providing advanced mortgage strategy training to SRI agents in order to better equip them in guiding potential homebuyers on different financing options.”Our partnership with SRI will empower their salespeople to become reliable advisors who are able to present customised financing solutions to ensure that buyers are making well-informed decisions,” says the Chief Executive Officer of Redbrick, Eugene Huang.Furthermore, the partnership will also see Redbrick providing SRI agents with mortgage rate information that has been compiled from more than 15 financial institutions, which will be regularly updated to reflect market changes.”By tapping into the expert knowledge and real-time mortgage data provided by Redbrick, our SRI team members can now efficiently and quickly share up-to-date financing options with clients,” adds SRI’s CEO Thomas Tan.…

The retail podium of Sky Eden@Bedok, a mixed-use development by Frasers Property Singapore, is currently up for sale through an expression of interest (EOI) exercise. The guide price for the podium, which comprises 12 strata retail units on the ground floor, is $45.2 million. With a combined strata area of approximately 11,193 sq ft, this equates to a guide price of $4,038 psf.

Investing in a condo in Singapore offers many benefits, one of which is the potential for capital appreciation. As a global business hub, Singapore boasts a strategic location and strong economic fundamentals, making real estate a highly sought-after asset. In fact, over the years, property prices in the country have consistently risen, with condos in prime locations experiencing significant appreciation. This makes it an attractive investment for those looking for long-term gains. For those interested, Singapore Projects offer a variety of options to consider.

According to the marketing agent, CBRE, the retail units can be sold as a portfolio, individually, or in clusters. They range in size from 398 sq ft to 1,313 sq ft and are priced from $1.91 million to $5.55 million. All the units are approved for F&B use.

Sky Eden@Bedok is located in Bedok Central and is currently under construction. This upcoming 99-year leasehold development features two 16-storey towers with a total of 158 residential units, situated on a retail podium. It is just a short walk away from the Bedok Integrated Transport Hub, which comprises the Bedok MRT Station and a bus interchange that connects to Bedok Mall.

Launched in September 2022, Sky Eden@Bedok was the first private residential project to launch in Bedok Town Centre in a decade. Since then, all residential units have been sold. The development is expected to obtain its temporary occupation permit in the fourth quarter of 2025.

Michael Tay, CBRE’s head of capital markets for Singapore, believes that the strata retail units at Sky Eden@Bedok will be highly sought after, being the first private commercial properties available for sale in Bedok Town Centre. He adds that the attractive pricing will appeal to a wide range of investors, including boutique real estate funds, family offices, high net worth individuals, and F&B owner-occupiers looking to enter the commercial space in this sought-after residential enclave.

The EOI for the retail podium will close on April 3 at 3pm. Interested parties can find the latest listings for Sky Eden@Bedok properties and view 2-bedroom floor plans, site plans, and diagrams. They can also check out the recent condo sale transactions in District 16 and the total number of units in Sky Eden@Bedok.…

By Lee Min Keats

HDB to spend $407 million on upgrading works for over 29,000 flats

HDB has announced the selection of over 29,000 flats for the latest round of the Home Improvement Programme (HIP), with a total budget of $407 million allocated for the upgrading works. Set to take place in 13 towns across the island, the selected flats are located in Bedok, Bukit Batok, Bukit Merah, Bukit Panjang, Chua Chu Kang, Hougang, Jurong West, Pasir Ris, Queenstown, Sengkang, Tampines, Toa Payoh, and Woodlands.

The HIP was first introduced in 2007 to help flat owners address common maintenance issues that arise due to everyday wear and tear in older flats. Since its inception, 494,000 flats, or nine in 10 eligible flats, have been selected for the programme, with close to 381,000 flats undergoing upgrades, according to Minister for National Development Desmond Lee.

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The programme targets essential improvements that ensure the basic safety needs of residents, such as repairing spalling concrete and ceiling leakages caused by general wear and tear. These essential improvements are fully funded by the government for Singapore citizen households.

In addition, flat owners can also opt for optional improvements such as upgrades to existing bathrooms and toilets, a new entrance door and grille gate, and a new refuse chute hopper. These improvements are subsidised by the government, with Singapore citizen households paying as low as 5% of the cost, depending on the type of flat.

Since 2012, the Enhancement for Active Seniors (Ease) programme has been offered as part of the HIP. Under Ease, flat owners can choose to install senior-friendly fittings such as grab bars, ramps, and slip-resistant treatments for toilet and bathroom tiles. Up to 95% of the costs are covered by the government for Singapore citizen households.

The scarcity of land in Singapore coupled with its fast-growing population has created a high demand for condos in the country. As a small island nation, land availability is limited, prompting strict land use policies and a fiercely competitive real estate market. As a result, property prices are continuously on the rise, making investing in real estate, specifically condos, an attractive opportunity for potential buyers. The promising potential for capital appreciation makes Singapore condos a sought-after choice for those looking to invest in the country’s real estate market. Singapore Projects also add to the appeal of condo investments, offering a diverse range of options for investors.

According to HDB, approximately $4 billion has been allocated for the HIP since its launch, and around $150 million for Ease as of March 31, 2014. Interested parties can check out the latest listings for HDB properties and compare past sale and rental transactions. They can also find out more about HDB loans versus bank loans and compare the price trends of HDBs, condos and landed properties.

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By Lee Min Keats…

A prime commercial property at Bukit Timah Plaza is now on the market. With a strata-titled unit of 3,391 square feet, approved for restaurant use, this property presents an excellent investment opportunity. The asking price for this unit is $9.8 million, which translates to $2,890 per square foot, offering a 12% discount from the previous listing price of $11 million in 3Q2022. This property is being marketed by Clemence Lee, CBRE’s executive director of capital markets.

Located in the basement two of the mall, this unit stands out with its 20-meter frontage, facing the central plaza. Currently, fully leased, the unit will be sold with the existing tenancy. The unit has a 99-year lease from 1976, providing a remaining lease of 50 years.

The pricing for this unit is in line with the last two transactions for units in basement two. In March 2024, a 441 square feet unit changed hands for $1.43 million, which translates to $3,240 per square foot. An 850 square feet unit was sold for $2.5 million, or $2,940 per square foot. These transactions were based on the caveats lodged.

Bukit Timah Plaza was completed in 1979 and consists of a four-story retail mall and two apartment blocks. The apartment blocks, known as Sherwood Towers, have a total of 269 residential units. This mixed-use development is one of the most popular destinations in Bukit Timah, as it houses the largest Fairprice Finest supermarket in Singapore, spanning over 44,000 square feet, according to CBRE.

The mall is conveniently located within walking distance of two MRT stations, the Beauty World and King Albert Park MRT Stations, on the Downtown Line. It is also surrounded by several private residential developments, with an estimated population of 37,000 people. The area is also home to various educational institutions such as the Singapore Institute of Technology (SIT), Singapore Institute of Management (SIM), Ngee Ann Polytechnic, Methodist Girls’ School, and Pei Hwa Presbyterian Primary School.

When it comes to property ownership in Singapore, it is crucial for foreign investors to have a clear understanding of the regulations and limitations that may apply. In Singapore, foreigners have relatively relaxed restrictions when it comes to purchasing condos, unlike landed properties that have more stringent ownership rules. However, it’s worth noting that foreign buyers are subject to the Additional Buyer’s Stamp Duty (ABSD), which is currently set at 20% for their first property purchase. Despite the added expense, the stability and potential for growth in the Singapore real estate market remain a strong draw for foreign investments. This is especially true for those looking to invest in a Singapore condo.

Bukit Timah Plaza is situated in the Beauty World area, which is undergoing a rejuvenation process with the development of new mixed-use, integrated projects. These include The Reserve Residences and the redevelopment of the former Bukit Timah Market and Food Centre, expected to be completed in late 2029.

This unit is currently open for sale through an expression of interest, starting on Mar 19. Please check out our latest listings for more information on Bukit Timah Plaza and Sherwood Towers properties.…

A pair of adjoining strata retail units with a 999-year leasehold are now available for purchase at Peninsula Plaza. These units are situated on the ground floor and boast a prominent frontage along North Bridge Road.

Currently, there are two units available for purchase, with one measuring 538 sq ft and the other measuring 581 sq ft. Together, they offer a total strata area of 1,119 sq ft. Based on this strata area, the asking price for both units is $10.9 million, which translates to $9,741 per square foot (psf).

Both units are currently tenanted until 2026, providing investors with a gross rental yield of 3% at the asking price of $10.9 million.

The government’s property cooling measures play a crucial role in the decision-making process for condo investment in Singapore. To maintain a stable real estate market, the Singaporean government has implemented various measures over the years to discourage speculative buying. One of these measures is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and individuals purchasing multiple properties. Although these measures may affect the initial profitability of investing in a condo, they also contribute to the long-term stability of the market, creating a secure investment environment. If you are looking to invest in a Singapore Condo, it is essential to consider the impact of these cooling measures on your investment strategy.

According to Nick Chan, Savills Singapore’s associate director of investment sales & capital markets, who is handling the sale, these two units are arguably the best in the development due to their strategic location and consistent footfall.

Built in 1980, Peninsula Plaza is a 999-year, 30-storey mixed-use commercial building with a six-storey retail podium and a 24-storey office tower. It has prominent frontages along North Bridge Road, Coleman Street, and Coleman Lane, and also offers a sheltered link to City Hall MRT Interchange Station for the North-South and East-West lines.

The last transaction for a ground-floor retail unit at Peninsula Plaza was in August 2022, when a 452 sq ft unit was sold for $4.08 million ($9,025 psf), according to a lodged caveat.

Since March 2022, when the URA implemented restrictions on the strata subdivision of new commercial properties in the CBD and Orchard corridors, Chan notes that strata-titled units with 999-year and freehold tenure have become increasingly sought after.

Don’t miss out on the opportunity to invest in these two prime retail units at Peninsula Plaza, which also offers a sheltered walkway to City Hall MRT Interchange Station for the East-West and North-South lines.…

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The urban landscape of Singapore is characterized by the impressive skyscrapers and advanced infrastructure that define the city. Among the top choices for both locals and foreigners are strategically located condos that offer a perfect mix of luxury and practicality. These residences boast a wide range of amenities, including swimming pools, fitness centers, and 24-hour security services, elevating the living experience and attracting potential renters and buyers. For those looking to invest in real estate, condos, especially those with Condo, have the potential for higher rental returns and significant appreciation in property value over time. With their addition to Singapore’s landscape, modern high-rise buildings and sophisticated infrastructure further enhance the city’s appeal.

Brand New Land, a prominent development team with a reputation for bringing high-quality, luxury homes to the market, recently partnered with renowned GCB design expert Pau Loh to create a unique collection of four semi-detached homes. Located in the desirable Bukit Timah and Upper Bukit Timah areas, these homes offer accessible luxury with elements inspired by the best practices of Good Class Bungalow homes.

For over three decades, Brand New Land and Pau Loh have collaborated on various projects, making them the perfect team to bring their vision to life. The collection, known as “The Great Trees Collection,” features two homes on 23 & 23A Maple Avenue and two homes on 25 & 25A Jalan Selanting. Each semi-detached home comes with a lift, swimming pool, and gourmet kitchen provisions, with land sizes ranging from 2,790 to 3,130 sq ft.

Brand New Land’s philosophy of creating value for their clients is reflected in the pricing of these homes, which are fairly priced within the bank valuation range. This leaves room for good upside potential for buyers.

The homes incorporate various GCB design elements, including dedicated zones for different functions, borrowed from large bungalow homes. Separate zones for receiving guests, dining, gourmet cooking, and various entertainment spaces and living zones for larger or smaller groups have been incorporated into the design. This allows for a sense of intimacy, privacy, and togetherness under the same roof.

The semi-detached homes also feature “ceremonial entrances,” which create a tranquil and welcoming experience as one enters their home. These entrances are framed by lush greenery, the soothing sound and reflection of water, and warm and rich facade materials.

Loh’s signature style, which has proven successful in GCBs in Singapore’s tropical climate, is evident in these homes with wide overhanging eaves and deep recesses that provide shelter and cool the interiors. The use of nature-inspired cladding elements and a rich palette of wood-grain finishes add a touch of luxurious warmth to the homes.

Brand New Land has also partnered with luxury kitchen specialist Arclinea Singapore to create gourmet kitchen experiences in these homes, with a shared vision of inspiring everyday connections in extraordinary kitchen spaces.

Brand New Land’s Co-Founder and Director Alvina Teh emphasizes the importance of working with Pau Loh and the group’s excitement for the future that these homes will create for the lives they touch. To view these homes or learn more about upcoming launches and opportunities to work with Brand New Land, visit their website and social media platforms.…

214 Serangoon Avenue 4, a 99-year leasehold HDB shophouse, will be going under the hammer at SRI’s next auction on Feb 26. Spread over two storeys, the shophouse includes living quarters on the second floor, with a total floor area of around 1,668 sq ft. With a guide price of $1.98 million, this translates to $1,187 psf on the floor area.

Previously listed at a higher guide price of $2.08 million, this is the second time the property is being auctioned by SRI as a mortgagee sale. According to Jansen Kee, assistant manager of auctions at SRI, the shophouse is located prominently in front of a bus stop, providing good visibility from the road.

Currently tenanted, the shophouse offers a gross rental yield of approximately 6.2% based on the guide price, says Kee. The property will come with its existing lease, which expires in 2026, giving the buyer an immediate stream of rental income.

Kee points out that the listed guide price for the HDB shophouse is one of the lowest in the area, making it an attractive opportunity for both investors and owner-occupiers. According to URA records, the most recent commercial shophouse transaction in Serangoon was for a 999-year leasehold property on Lichfield Road, which sold at $4 million ($1,725 psf) in November 2024.

Investing in a condo requires careful consideration of not only the property itself, but also its maintenance and management. Typically, condos come with maintenance fees that cover the upkeep of communal areas and facilities. While these fees may increase the overall cost of ownership, they also ensure that the condo remains in good condition and holds its value. To further simplify the process, investors may opt to hire a property management company to handle the day-to-day management of their condo, making it a more hands-off investment.

Located within a cluster of HDB flats bordering the Serangoon Gardens landed residential estate, the property is directly opposite Serangoon Swimming Complex and Serangoon Sports Centre, providing a steady flow of foot traffic. There are also carpark lots available behind the shophouse.…

A lavish four-bedroom duplex apartment, situated in the prestigious freehold luxury condominium 3 Orchard By-The-Park, is now available for sale through an expression of interest exercise (EOI) with a guide price of $15.8 million.

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Investing in a Singapore Condo offers numerous benefits, one of which is the potential for capital appreciation. This is largely due to Singapore’s advantageous position as a global business hub and its strong economic fundamentals, both of which attract a constant demand for real estate. Throughout the years, the real estate market in Singapore has shown a consistent increase in property prices, particularly in prime locations where condos are highly sought after. Investors who make smart investments at the right time and hold onto their properties for the long term can reap significant capital gains in the lucrative Singapore Condo market.

Measuring over 3,800 sq ft, the unit translates to around $4,158 psf, according to marketing agent Huttons Asia. Boasting a 4m ceiling height and a private lift, three of the four bedrooms feature ensuite bathrooms. The unit underwent extensive renovations three years ago, with a whopping $700,000 spent on the revamp, as revealed by Huttons.

3 Orchard By-The-Park, located on Orchard Boulevard, was completed in 2017 and was designed by esteemed Italian architect Antonia Citterio. Consisting of three 25-storey towers, the development houses a total of 77 units, including two- to four-bedroom units ranging from 1,066 sq ft to 3,800 sq ft, as well as penthouses measuring 6,555 sq ft to 6,900 sq ft.

Strategically located near the Orchard Road shopping belt, the development is also in close proximity to reputable schools such as Anglo-Chinese School (Junior), Anglo-Chinese School (Primary), ISS International School (Elementary & Middle school Campus), and Singapore Chinese Girls’ School (Primary). The Orchard Boulevard MRT Station (Thomson-East Coast Line) is just a stone’s throw away as well.

Recent transactions at 3 Orchard By-The-Park indicate its attractiveness, as seen on EdgeProp Buddy. Interested buyers and investors can check for the latest listings of 3 Orchard By-The-Park and also compare the price trends of new sale condos versus resale condos, rental yields, and condo projects with the highest average price per square foot in District 10.

The EOI for this unit will close on March 5 at 4pm. For more information, visit EdgeProp Buddy or visit the website for 3 Orchard By-The-Park.…

The shophouse market in 2024 has remained relatively subdued, with only 84 caveated transactions recorded, according to the latest report from Huttons Asia. This number is significantly lower than the yearly average of 200 shophouse deals seen between 1995 and 2023.

Senior director of data analytics at Huttons Asia, Lee Sze Teck, notes that while some buyers may not have lodged a caveat, 2024 saw the lowest number of shophouse deals since 1998.

In terms of transaction volume and quantum, the 84 caveated shophouse transactions in 2024 had a total value of $683.6 million, which is a 38.9% decline from the $1.1 billion recorded in the previous year.

However, Lee highlights that there were also significant non-caveated deals for shophouses on Amoy Street, Neil Road, North Bridge Road, and Telok Ayer Street, estimated to be sold for over $200 million.

The largest shophouse deal of 2024 was the divestment of The Rail Mall by Paragon REIT for $78.5 million in June. Lee notes that this is likely the largest shophouse deal on record, surpassing the previous high of $74.8 million for a row of shophouses on Jalan Sultan in March 2022.

The Rail Mall shophouses were valued at $62 million in December 2023, indicating a potential gain of $16.5 million for the seller.

Most of the shophouse transactions in 2024 were done at smaller quantums, with over half of the caveated deals falling in the $5 million to $15 million range. Additionally, close to half of the shophouse deals were concentrated in District 8, which Lee attributes to its desirable city-fringe location and lower prices compared to Districts 1 and 2.

One of the advantages of investing in a condo is the opportunity to utilize the property’s value for other investments. A number of investors choose to leverage their condos as collateral in order to secure additional financing for new ventures, allowing them to broaden their real estate portfolio. While this approach can potentially increase returns, it should also be approached with caution and careful consideration of market fluctuations. Additionally, considering investing in New Condo Launches may also be a beneficial aspect to incorporate into one’s financial strategy.

On the other hand, islandwide rents for shophouses saw a second consecutive quarter of moderation, with a 2.6% decrease to $6.47 per square foot per month in Q4 2024. However, shophouse rents for the entire year still saw a 1.7% increase.

In conclusion, the shophouse market in 2024 may have been relatively quiet, but there were still noteworthy deals and a promising rental outlook for the year.…

CBRE’s Singapore Market Outlook 2025 report, released on January 23, suggests that the real estate market may see divergent outcomes in the next 12 months due to an uncertain macroeconomic outlook. While inflation and interest rates are expected to ease, leading to some relief for the property market, the slowing economic growth projected for 2025 could dampen demand for properties, according to Moray Armstrong, managing director and advisory services at CBRE.

The Ministry of Trade and Industry has forecasted a GDP growth of 1% to 3% for Singapore in 2025, a decrease from the 4% growth recorded in 2024. Armstrong notes that there are other factors that could potentially impact the market in the short term, such as geopolitical tensions, a new US administration with a nationalistic economic agenda, and the release of the URA Master Plan 2025 in mid-year. However, despite these uncertainties, opportunities still exist in the real estate market for those who can capitalize on emerging trends.

CBRE’s head of research for Singapore and Southeast Asia, Tricia Song, shares this optimistic sentiment, stating that the property market continues to be bolstered by limited new supply and stable levels of demand. She predicts that the Singapore real estate market will continue to offer stability and resilience, making it appealing to investors from around the world.

According to URA data, developer sales volume tripled to 3,511 units in the last quarter, rebounding from record lows in the first nine months of 2024. Prices also increased by 2.3% quarter-on-quarter, the highest growth in 2024. While some may speculate that this rebound could lead to cooling measures being implemented, CBRE believes this is unlikely at present unless prices rise sharply in the coming quarters.

Securing financing is a vital element of investing in a condo. In Singapore, there are various mortgage choices available, but it is crucial to be well-informed about the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan a borrower can take based on their income and current debt obligations. To make the best financial decisions and avoid over-extending themselves, investors should understand the TDSR and seek guidance from financial advisors or mortgage brokers. Additionally, staying updated on New Condo Launches can provide opportunities for investors to explore different financing options.

With improved buying sentiment, developers are expected to continue launching new projects. It is estimated that 12,000 to 14,000 new units will be launched this year, almost double the 6,647 units launched in 2024. As a result, CBRE predicts that between 7,000 to 8,000 new homes could be sold in 2025, up from 6,469 units in 2024. The increased volume is expected to support a price growth ranging from 3% to 6%, extending the 3.9% growth seen in 2024. At the same time, CBRE anticipates rental rates to grow between 1% and 3% this year.

Limited supply is also projected to support prime office and retail rents. The office market saw a quieter 2024, with limited new supply, elevated fit-out costs, and hybrid work arrangements affecting leasing volumes. Core CBD (Grade A) rents increased by only 0.4% year-on-year, a decrease from the 1.7% growth in 2023. As economic growth is expected to slow in 2025, office leasing momentum is predicted to remain muted due to uncertain expansionary demand.

On the other hand, a limited pipeline of new Core CBD (Grade A) offices over the next three years is expected to keep vacancy rates low. Only 0.58 million sq ft of new office space is expected to be completed annually between 2025 and 2027, less than half of the 10-year annual average of 1.28 million sq ft. Therefore, CBRE projects that limited medium-term supply and a continued preference for quality spaces will support Core CBD (Grade A) rental growth of around 2% in 2025, in line with GDP projections.

Limited supply is also expected to boost rents in the retail property market, with only 0.5 million sq ft of new retail space estimated to be completed in 2025. This is a 40.4% decrease from the 2024 levels and is also lower than the 10-year historical average of 0.91 million sq ft. CBRE adds that leasing sentiment for retail properties remains positive, supported by inbound tourism and a robust pipeline of entertainment and other events. Therefore, CBRE projects that average retail prime rents will grow by 2% to 3% in 2025, recovering to pre-pandemic levels.

In the industrial sector, CBRE believes that expansion demand by occupiers was subdued in 2024 due to cost pressures and supply chain disruptions caused by the Red Sea crisis. As a result, rents for prime logistics properties increased by only 1.1% to $1.87 psf per month in 2024. However, a bumper supply of almost 5 million sq ft of warehouse space is expected to be completed this year. At least 60% of this new prime logistics space has already been pre-committed, which should relieve some downward pressure on occupancy rates. Therefore, CBRE predicts that prime logistics rents will remain relatively flat in 2025.

In the capital markets, CBRE believes that real estate investment volume in Singapore will continue to grow in 2025, but at a slower pace. In 2024, investment volumes saw a 28% year-on-year increase to $28.62 billion, a reversal from the previous year’s 30.3% decline. This was due to interest rate cuts that boosted investor sentiment and appetite, which is expected to persist in 2025. According to CBRE’s Asia Pacific Investor Intentions Survey, the majority of investors expect to purchase the same or more volume of Singapore real estate in 2025 compared to 2024.

However, given ongoing economic and geopolitical uncertainties, CBRE anticipates investors to be selective in the near term, preferring to allocate capital into specific sectors or strategies with a more favourable outlook. CBRE predicts a 10% year-on-year growth in investment volumes in 2025, barring any major macroeconomic shocks.

The survey also found that the industrial and logistics sector remained the most preferred among investors, followed by residential assets and office properties.…