When contemplating an investment in a condo, it is crucial to factor in the potential rental yield. The rental yield is the annual rental income expressed as a percentage of the property’s purchase price. In Singapore, the rental yields for condos can differ greatly, depending on factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, offer more favorable rental yields. To gain a better understanding of a condo’s rental potential, conducting thorough market research and seeking guidance from real estate agents can prove highly beneficial. Additionally, New Condo Launches can also provide valuable insights into the rental potential of a specific condo.
The top bid of $368.901 million for an industrial GLS (IGLS) site at Kallang Way has been awarded to CL Savour Property, a subsidiary of CapitaLand Development. This marks the first adaptive reuse of a former industrial building in Singapore.The tender for the IGLS site was launched on June 25 and received a total of four bids at the close of tender on October 1, with the top bid of $368.901 million being 14.9% higher than the second highest offer of $317.889 million submitted by a consortium of Soon Hock Group, BHCC Construction, and Evermega. This strategic and sustainable master planning and development of the site aims to rejuvenate the area while preserving its industrial legacy, according to Tang Hsiao Ling, director of urban planning and architecture division at JTC. This is part of Singapore’s efforts to reduce carbon emissions in the built environment.On top of being the first site in Singapore to undergo adaptive reuse, the site is also the last of the five Confirmed List sites in the 1H2024 IGLS programme. The 474,772 sq ft site is zoned for Business 2 use under the master plan and has a maximum allowable gross floor area of 1.23 million sq ft with a 33-year tenure. It is also part of a designated food zone, with plans to include food manufacturing spaces and retail uses to add vibrancy to the industrial area.