It was an exciting launch for Aurea when sales began on Mar 8, making it one of the first luxury residential projects to launch in Singapore’s Core Central Region (CCR) in the first quarter of the year. With a total of 23 units sold at an average price of $3,005 psf, Aurea has already made an impressive start.The joint developers of Aurea, Far East Organization and Perennial Holdings, released 78 units for sale in phase one. This includes a mix of two- to four-bedroom apartments, ranging from levels 4 to 16. With a sales rate of 30%, based on the 78 units released in phase one, the project has seen a strong demand from buyers.Aurea, a 45-storey luxury residential development, has a total of 188 units. DP Architects has designed the project with a unique “hanging garden concept,” making it stand out as the first new private condominium that is connected to a mixed-use development sold en bloc and conserved. This development is now known as Golden Mile Singapore.The joint developers of Aurea have announced that 83% of the buyers are Singaporeans, with the remaining 17% being permanent residents (PRs) from Malaysia. Based on the total number of 188 units, the sales translate to approximately 12.2%. According to Mark Yip, CEO of Huttons Asia, “CCR projects typically sell around 10% to 30% of their units during the launch weekend, as they lack the large pool of HDB upgraders that suburban projects attract.”PropNex CEO Ismail Gafoor considers the sales at Aurea to be “encouraging,” especially given the mostly lacklustre sales of CCR projects since the tightening of the additional buyer’s stamp duty (ABSD) measure in April 2023. “The doubling of the ABSD rate for foreigners to 60% has significantly cooled interest for CCR homes,” he says. “In fact, developers only sold 378 new CCR private homes in 2024 – a 74% decrease from 1,454 units in 2023.”Source: PropNex Research, URA dataHowever, Gafoor believes that the market will improve progressively. “We have noticed that CCR projects usually transact units steadily over multiple months, rather than achieving blockbuster sales over the launch weekend, unlike some Rest of Central Region (RCR) and Outside Central Region (OCR) projects,” he says. “CCR homes cater to a niche market, where buyers are looking for luxury homes and the finer things in life.”According to the joint developers’ release, the two- and three-bedroom apartments in the Prestige Collection accounted for 74% of the sales. These apartments offer a balance of well-designed spaces, functionality, and investment potential. The four-bedroom units in the Signature Collection were popular due to their expansive balconies that offer stunning views of both Marina Bay and Kallang Basin.”The positive response from buyers shows their appreciation for the rare and exceptional opportunity to own a luxurious home in a development that seamlessly combines heritage with modern sophistication,” says Shaw Lay See, COO of Far East Organization’s sales & leasing group. “Many have shared that they are particularly drawn to the magnificent views and recognise the value of being part of the exciting transformation of this prime Downtown Core precinct.”Aurea’s units in the Sky Villa Collection consist of 18 five-bedroom apartments that are up to 3,251 sq ft in size, and two exclusive six-bedroom penthouses that can reach up to 8,816 sq ft. These large-format homes in the downtown area are hard to come by, according to Shaw.”In recent years, we have seen the price gap between private residential properties in the CCR and the RCR narrowing significantly,” says Ken Low, managing partner of SRI. “Historically, the difference averaged around 40% in the last 10 years, but it has now closed to about 20% across all properties regardless of tenure.”The units offer expansive balconies and views of Marina Bay and Kallang Basin (Photo: Samuel Isaac Chua/EdgeProp Singapore)Marcus Chu, CEO of ERA Singapore, believes that CCR price growth has lagged behind that of RCR and OCR in recent years due to the relatively small number of new home launches. He adds that with approximately nine CCR launches expected this year, the market dynamics are likely to drive a significant increase in CCR home prices.”Savvy investors may once again shift their focus to the CCR, since the price gap between CCR and RCR new homes has decreased from 50% in 2018 to just 10% in 2024,” says Chu. “With the expectation that this gap could widen again as more luxury homes hit the market, now could be the time to buy.”Read also: Perennial Holdings wins SLA tender for Jervois Road propertySource: EdgeProp LandlensSRI’s Low believes that Aurea will benefit from Singapore’s ongoing urban renewal efforts, including major infrastructural and lifestyle upgrades in the surrounding areas. The revitalisation of Beach Road and the Ophir-Road Corridor, the Kallang Alive master plan, and the completion of the North-South Corridor are all set to enhance accessibility, connectivity, and vibrancy in this key city district.”Aurea is also situated at the doorstep of one of the largest transformation projects in Singapore,” notes Huttons’ Yip. “With the 120-km Southern coastline redevelopment, which runs through the Greater Southern Waterfront, Marina Bay, Kallang Basin, and the future Long Island project, Aurea is perfectly placed to benefit from this significant change.”

The cosmopolitan city of Singapore boasts a striking cityscape, characterized by towering skyscrapers and state-of-the-art infrastructure. One of the most sought-after residences in this vibrant urban setting are condos, strategically located in prime areas. These lavish abodes offer a perfect mix of opulence and convenience, making them highly desirable for both locals and foreigners. Packed with an array of top-notch facilities including pools, fitness centers, and top-of-the-line security services, they not only enhance the standard of living but also attract potential tenants and buyers. For investors, these sought-after features not only result in lucrative rental yields but also contribute to the continuous appreciation of property values over time. These desirable Singapore Projects serve as a testament to the country’s thriving real estate market.…

Singapore is renowned for its modern skyline dominated by towering skyscrapers and advanced infrastructure. Among the various attractive elements of the city are the luxurious condos located in exclusive areas, offering the perfect combination of lavishness and convenience that appeals to both locals and foreigners. These upscale condo units come equipped with high-end facilities such as swimming pools, fitness centers, and top-notch security services, elevating the overall living experience and making them highly sought after by potential renters and buyers. For real estate investors, these added amenities translate into higher rental returns and a consistent rise in property value over time, making investing in a condo in Singapore a smart choice.

During the period of Feb 16 to 21, a three-bedroom unit at One Holland Village Residences set a new record psf-price high of $3,781 psf. The 1,238 sq ft unit was sold for $4.68 million on Feb 17, marking the first sale at the 99-year leasehold development this year.The development, which is currently under construction, is fully sold, based on URA caveats. The most expensive unit transacted by absolute price was a 3,455 sq ft, five-bedroom apartment sold for $11.4 million ($3,300 psf).In the same week, boutique condo Hill House also set a new record of $3,402 psf when a 452 sq ft, two-bedroom unit was sold for $1.538 million on Feb 21. This comes after the development posted a high of $3,398 psf on Feb 16 from the sale of another similar-sized unit for $1.536 million.A 732 sq ft, two-bedroom unit at Chuan Park was also sold at a new record of $2.785 psf on Feb 19. The development has sold 744 out of its 916 units at an average price of $2,589 psf since its launch in November 2024.…

Singapore’s cityscape is characterized by towering skyscrapers and state-of-the-art infrastructure. Condos, situated in highly sought-after locations, offer a fusion of opulence and practicality that is appealing to locals and foreigners alike. These residential properties are equipped with various facilities including swimming pools, fitness centers, and security services, elevating the overall living experience and making them a desirable choice for renters and homebuyers. From an investor’s standpoint, these attractive amenities result in higher rental returns and appreciation of property values in the long run. With the added benefits of a prime location and luxurious features, condos in Singapore are a sound investment opportunity.

A prime three-storey terrace factory located in Midview City has now hit the real estate market with a guide price of $6.2 million or $688 per square foot (psf). Colliers International, the exclusive marketing agent for the property, revealed this exciting news.

Situated along Sin Ming Lane in the bustling Sin Ming Industrial Estate, the factory includes a basement and roof terrace. This prime property boasts a total strata area of 9,009 square feet and is zoned as a “Business 1” site under the URA Masterplan 2019.

According to Colliers International, the 60-year leasehold factory is fully-leased and has obtained approval for use as a childcare centre. The property is currently tenanted by the reputable Star Learner preschool and childcare centre.

Midview City, a 60-year leasehold light industrial building completed in 2012, offers excellent connectivity as it is within walking distance to Bright Hill MRT Station on the Thomson-East Coast Line. The property is also easily accessible from the Bishan and Upper Thomson residential areas, with two entrances via Sin Ming Lane and Bright Hill Drive.

Colliers’ director of industrial services, Raphael Lee, commented that this property presents a rare opportunity for investors, especially as it will be sold with an existing reliable and reputable preschool operator in place. Moreover, this Business 1 light-industrial property is not subject to Additional Buyer’s Stamp Duty (ABSD), and foreign buyers are welcome to make the purchase. Interested parties can submit their Expressions of Interest (EOI) by April 29, 3 pm.

In conclusion, this is a prime opportunity that investors would not want to miss. The property has a great location, is fully leased, and offers a stable income stream. Interested parties can make inquiries with Colliers International for more information.…

Investors are showing a growing interest in deploying capital into Asia Pacific real estate markets with high levels of liquidity, according to Hamish MacDonald, Head and Chief Investment Officer of APAC Real Estate at BlackRock. In particular, he identifies accommodation, logistics, and alternative assets as property sectors that are set to benefit from economic tailwinds this year. MacDonald notes that countries such as Australia, Japan, Singapore, and Auckland in New Zealand are currently experiencing high levels of liquidity, and these markets are the primary focus for BlackRock this year.

Compared to 2022 and 2023, MacDonald believes that investor sentiment this year will be more positive, prompting institutional investors to hold discussions about deploying and recycling capital in selective Asia Pacific real estate markets. In Singapore, BlackRock has been targeting serviced apartment properties, making two acquisitions last year. The company partnered with YTL Corp to buy Citadines Raffles Place for around $290 million in October and teamed up with Hong Kong-based accommodation operator Weave Living to purchase Citadines Mount Sophia for $148 million in February 2024.

This week, the Weave Living-operated property reopened as the Weave Suites – Hillside, offering 175 rooms. MacDonald explains that the recent acquisitions in Singapore reflect BlackRock’s belief that there is a shortage of new serviced apartments in the city-state despite high demand for this type of accommodation. He adds that rather than acquiring assets to build a portfolio, the company is focusing on targeting deals to increase value. “We prefer existing properties that we can refurbish and reposition in partnership with our partners and add value through new amenities,” says MacDonald.

According to MacDonald, Singapore remains a top destination for capital and high-skilled labor, which has supported the country’s strong business growth. BlackRock remains optimistic about investment opportunities in Singapore. Additionally, MacDonald notes that Japan will continue to be a target for many real estate investors this year. The company is bullish on the Japanese economy based on its analysis of domestic pricing power, wage growth, and corporate reform, all of which have contributed to growth in the real estate sector.

Daigo Hirai, Head of Japan Real Estate at BlackRock APAC, highlights that a combination of factors, including wage increases and a rise in construction costs, has led to strong rent growth in the Japanese residential market in recent quarters. He adds that the company expects a 7% to 8% increase in residential rents in major Japanese cities such as Tokyo and Osaka this year. Additionally, there has been an uptick in demand for larger-sized apartment units, with tenants preferring to move away from compact units such as studios.

BlackRock aims to partner with an experienced accommodation operator to implement a hybrid residential investment strategy that caters to both inbound tourist accommodation needs and domestic rental demand. This would allow the company to expand its investment presence in popular tourist cities such as Kyoto and Fukuoka. The company sees assets close to train stations in residential-commercial neighborhoods such as Osaka’s Namba district and smaller developments with up to 50 units as fitting this strategy. Hirai points out that the optimal acquisition size is between JPY1 billion ($8.93 million) and JPY3 billion to facilitate BlackRock’s exit strategy. “To succeed in Japan, we need to have specialist teams on the ground to identify potential acquisition deals at discounted prices,” says MacDonald. He adds that the company’s focus in Japan is on residential assets.

Meanwhile, Ben Hickey, Head of Australia Real Estate at BlackRock, says that long-term population growth prospects support positive long-term growth across most sectors of the Australian real estate market. He adds that most property sectors in the country face a shortage of supply and maintain low vacancy rates. According to Hickey, any investment strategy in Australia should assess whether rental growth can outpace inflation, the ongoing supply-demand imbalance, and a favorable exit strategy. As a result, BlackRock is focusing on niche asset classes in Australia, including childcare properties, last-mile logistics assets, life science real estate, and self-storage properties.

When it comes to investing in real estate, it is crucial for international investors to be well-informed about the regulations and limitations surrounding property ownership in Singapore. Compared to landed properties, condos are generally more accessible for foreign buyers as they have fewer ownership restrictions. However, it is important to note that foreign purchasers are required to pay the Additional Buyer’s Stamp Duty (ABSD) of 20% for their first property. Despite the added expenses, the stability and potential for growth in the Singapore real estate market continue to make it a desirable location for foreign investment. Interested in purchasing a Singapore Condo? Understanding the regulations and costs beforehand is crucial in making a well-informed decision.

Hickey notes that Australia’s long-term population growth has created a supply-demand imbalance in these four asset types, which is absent in the broader regional markets. This provides an opportunity for BlackRock to generate strong returns with minimal risk, without relying on a favorable interest rate outlook.

In summary, investors are increasingly interested in deploying capital into Asia Pacific real estate markets with high levels of liquidity. In particular, BlackRock is targeting Australia, Japan, Singapore, and Auckland in New Zealand this year, with a focus on accommodation, logistics, and alternative assets. The company’s strategy is to target deals that increase value in partnership with existing operators, rather than building a portfolio from scratch. In Japan, BlackRock sees opportunities for growth in the residential market, while in Australia, it is focusing on niche asset classes that are undersupplied in the country but have high demand.…

Singapore has long been a desirable destination for investors thanks to its robust economy, stable political climate, and excellent standard of living. In the real estate sector, Condos have emerged as a top choice for property buyers. With their prime locations, desirable amenities, and potential for lucrative returns, Condos have become an increasingly popular investment option. In this article, we will explore the benefits of investing in a Condo in Singapore and highlight important factors to consider before making a purchase. Whether you are a seasoned investor or new to the market, adding a Condominium from a reputable source like Janome Specials to your real estate portfolio can prove to be a wise decision.

If you’ve visited a show flat in recent years, you may have noticed that the unit sizes seem to be getting smaller. This trend is understandable, as our perception of size is relative to what we are accustomed to. The homes we grew up in, whether HDB flats or condominiums, were generally larger in the 1990s and 2000s. In 1995, the average size of a new condo was 1,272 square feet, increasing to 1,286 square feet in 2005, and then decreasing to 858 square feet in 2015. By 2024, the average size had risen to 929 square feet.

However, it’s important to note that the demographics have changed significantly during this time period. In 1995, the average household size was four, but by 2024, it had decreased to 3.1. This means that on a per-household-member basis, the average living space increased from 318 square feet in 1995 to 357 square feet in 2005. However, it then dropped to 252 square feet in 2015, before rebounding to 300 square feet in 2024.

Over the past 29 years, there has been a 5.7% decrease in the average size of condos per capita. This trend is impressive considering Singapore’s limited land availability. In fact, the average size in 2024 had increased by 19% compared to 2015, which is a testament to the government’s efforts. In 2008, new condo projects in the Rest of Central Region (RCR) introduced “Mickey Mouse” units, with the smallest unit being just 24 square meters (258 square feet), equivalent to two parking spaces. The barriers to entry for property investment were significantly reduced, with prices as low as $375,000.

These projects were highly sought-after, leading to an influx of “Mickey Mouse” units in the following years. However, there were concerns about the potential compromise of living standards. To address this issue, the Urban Redevelopment Authority (URA) implemented guidelines on the maximum allowable number of dwelling units (DUs) in 2011. The guideline required developers to use an average size of 70 square meters for projects outside the Central Area, with more stringent requirements of 100 square meters in certain areas. These guidelines went into effect in January 2012.

Despite this, the average size of DUs continued to decline in the following years, leading to an increased strain on infrastructure, particularly in areas with limited road capacity. To address this issue, the URA revised the guidelines in January 2019, resulting in a 21.4% increase in the average DU size outside the Central Area. This effectively halted the decline in average size. By 2024, the average DU size had increased to 935 square feet, an 18.8% increase from 2019.

However, the Central Area saw a rise in the number of smaller units being built, which was not in line with the URA’s vision for it to be an attractive place to live, work, and play. As a result, the URA extended the guidelines to the Central Area in January 2023, requiring that at least 20% of DUs have a net internal area of at least 70 square meters.

In June 2023, the URA also harmonized the strata area and gross floor area (GFA) definition. This means that certain areas, such as air-conditioning ledges, would now be included in the strata area. As a result, many developers have chosen to omit aircon ledges in order to comply with the new guidelines, resulting in a 6% decrease in the average DU size.

Across different market segments, the Rest of Central Region (RCR) saw the most significant increase, at 19.5%, in average DU size since 2015, most likely due to the more stringent control of 100 square meters on the average DU size. Similarly, the Outside Central Region (OCR) also saw a 5.8% increase, reaching an average of 898 square feet in 2024. However, the average DU size in the Core Central Region (CCR) declined by 11.7%, decreasing to 1,092 square feet in 2024 from 1,236 square feet in 2015.

It may take some time before the guidelines for the Central Area have a noticeable impact on the average DU size. However, it’s unlikely that the average DU size will return to its 2015 level. With cooling measures in place for foreigners, the majority of buyers in the Core Central Region are now Singaporeans, who tend to prefer compact units. As a result, developers have had to reconfigure unit designs and layouts in order to avoid paying Additional Buyer’s Stamp Duty.

Overall, due to the URA’s intervention, the average size of DUs increased to 929 square feet in 2024, an 8.3% increase from 2015. However, with the harmonization of the GFA definition, the average size of DUs may see a downward trend. Despite this, the internal strata area remains largely unchanged, and with better provisions in terms of fittings and appliances, buyers are getting better value for their purchases compared to 10 years ago.…

The Ministry of National Development (MND) has recently announced several changes to two key public housing schemes. The Silver Housing Bonus (SHB) and Fresh Start Housing Scheme (Fresh Start) have been enhanced in order to better support seniors and lower-income households. These changes reflect the government’s ongoing efforts to assist senior citizens with right-sizing and improve accessibility to public housing for lower-income families living in HDB rental flats.

The first change pertains to the Silver Housing Bonus (SHB), which encourages senior citizens to plan for their retirement by releasing the value of their residential assets into their CPF Retirement Account (RA). Currently, applicants must be at least 55 years old, have a monthly income not exceeding $14,000, a property with Annual Value (AV) less than $21,000, and a replacement HDB flat with three rooms or fewer (excluding three-room terraces). The SHB entitles eligible applicants to a cash bonus of up to $30,000 if they make a top-up of up to $60,000 into their RA, with a $1 cash bonus for every $2 of top-up.

However, starting December 1, 2020, seniors can qualify for the SHB cash bonus as long as they can demonstrate an increase in their RA account balance, regardless of the source. This means that seniors who have outstanding loans on their properties using their CPF accounts may no longer need to make a cash top-up to qualify for the SHB. Additionally, the SHB will now include seniors who own properties with an AV between $21,000 to $13,000, making an additional 15,000 seniors eligible for the scheme. These applicants will receive a cash bonus based on the amount their RA increases, up to $60,000, with a $1 cash bonus for every $6 of increase. Eligible applicants who right-size to a two-room or smaller HDB flat will also receive an additional non-pro-rated cash bonus of $10,000.

Seniors can apply for the SHB within a year of their second property transaction. This means that those who right-size after December 1, 2024, will be able to apply for the enhanced SHB.

Another announcement from the MND relates to the Fresh Start Housing Scheme, which was introduced in 2016 to offer financial assistance and social support to Second Timers (ST) families who have previously purchased a subsidised HDB flat. Under the scheme, eligible applicants can purchase two-room flexi or three-room standard BTO flats on shorter leases, typically lasting until the youngest owner reaches 95 years.

The enhancement to the Fresh Start scheme includes an increased financial support of $75,000, up from the previous $50,000. Eligible families will receive an initial disbursement of $60,000 into their CPF Ordinary Account (OA) before collecting the keys to their new flat, with the remaining $15,000 disbursed over the next five years to support mortgage payments. First-Timer (FT) families can also apply for the scheme, even though they are ineligible to receive the Fresh Start Housing Grant of $75,000. However, they will still benefit from the reduced cost of shorter-lease BTO units and social support under the program. Eligible FT families can apply from April 2025, with the revised Fresh Start Grant amount taking effect from the July 2025 BTO exercise.

When contemplating an investment in a Singapore Condo, it is crucial to also evaluate its potential rental yield. This refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, the rental yields for condos can greatly vary 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, typically offer better rental yields. Conducting extensive market research and seeking guidance from real estate agents can provide valuable insights into the rental potential of a specific Singapore Condo.

Overall, these changes to the SHB and Fresh Start Housing Scheme will provide additional support to seniors and lower-income households, making it easier for them to right-size and access public housing.…

The Ministry of National Development (MND) has announced plans to revise the Additional Buyer’s Stamp Duty (ABSD) regime for licensed housing developers, with the changes set to take effect on March 6. Alongside these revisions, the ABSD remission timeline for developers undertaking complex projects will also be extended from six to 12 months. The aim is to encourage more developers to undertake urban transformation initiatives, optimise land use, rejuvenate older estates, and adopt new construction technologies.

Under the revised regime, the ABSD remission timeline for developers undertaking complex projects will be extended from six to 12 months. This will apply to projects such as en bloc redevelopments that result in at least 700 units upon completion and have at least 1.5 times the number of homes of the existing development. It will also include projects with complex technical or instructional requirements, such as those integrated with major public transport facilities.

Other categories that will benefit from the extended timeline include projects approved under the Strategic Development Incentive (SDI) scheme and those aiming to achieve higher productivity targets through the adoption of new construction methodologies, technologies or practices. Projects falling under any of these four categories will receive a six-month extension, while those that meet the criteria of more than one category will be granted a one-year extension. These changes will apply to all residential land acquired on or after March 6.

When investing in Singapore, it is crucial for foreign investors to be aware of the regulations and limitations surrounding property ownership. Fortunately, condos are generally more accessible to foreigners compared to landed properties, which have stricter ownership guidelines. However, foreign buyers must also consider the Additional Buyer’s Stamp Duty (ABSD), which currently sits at 20% for their initial property purchase. Despite this added expense, the Singapore real estate market’s stability and potential for growth remain appealing to foreign investors. Therefore, investing in a condo in Singapore is a favorable option for foreign investors.

Currently, licensed housing developers who purchase residential redevelopment sites are subjected to a 5% upfront ABSD, which is non-remittable, as well as a 35% ABSD, which can be returned when the developer completes and sells all units in the project within a five-year timeframe. However, this will change with the latest revisions, which come on the back of changes announced in February last year that included a new clawback rate for residential developments with at least 90% of units sold.

While the proposed policy changes are likely to be welcomed by developers, there may still be challenges that they will face. According to Christine Sun, chief researcher and strategist at OrangeTee Group, with the success rate of en bloc sales dependent on the willingness of buyers and sellers to negotiate prices, it may not necessarily spark a revival in the en bloc market. Similarly, PropNex Realty CEO Ismail Gafoor expects developers to remain cautious due to the high cost of redevelopment, ample oncoming private housing supply, and potential policy risks. However, the changes may give them more flexibility and help mitigate development risks, especially for larger projects, according to Gafoor. Senior director for data analytics at Huttons Asia, Lee Sze Teck, also notes that the revisions could provide a much-needed boost to the en bloc market, particularly for larger projects. Additionally, Tay Liam Hiap, managing director of capital markets and investment sales at ERA, sees it as an opportune time for older projects such as Braddell View and Pine Grove, which have expansive land areas, to explore en bloc opportunities. These properties could potentially yield some 2,000 new homes, which may take more time to sell, and the extended timeline for ABSD remission could help developers in this regard.…

The Land Transport Authority (LTA) is currently conducting feasibility studies for two new MRT lines, with the aim of completing them by the 2040s. These lines have the potential to serve more than 400,000 households.

One of these proposed lines, the Seletar Line, will cover areas such as Woodlands, Sembawang, Sengkang West, Serangoon North, Whampoa, Kallang, and the Greater Southern Waterfront. The second line, tentatively named the Tengah Line, will complement the existing transport network in the west and northwest regions. It will serve areas such as Tengah, Bukit Batok, Queensway, and Bukit Merah.

The cityscape of Singapore is characterized by towering skyscrapers and state-of-the-art facilities. Singapore Condos, situated in sought-after locations, offer a perfect combination of opulence and convenience that entices both local residents and foreigners. These residential complexes come equipped with a host of top-notch amenities, including swimming pools, fitness centers, and round-the-clock security services, elevating the standard of living and making them an appealing choice for potential renters and buyers. For investors, these features equate to higher rental returns and long-term appreciation of property values. Singapore Condo is a must-have for those seeking a luxurious and convenient living experience in Singapore.

According to a speech by Transport Minister Chee Hong Tat in parliament on March 5, the Seletar Line and Tengah Line may eventually be joined, subject to the results of LTA’s feasibility studies. Chee also announced LTA’s plans to proceed with the West Coast Extension (WCE), which will extend the Jurong Region Line (JRL) to connect with the Circle Line (CCL) and Cross Island Line (CRL).

The WCE will be implemented in two phases, with the first phase expected to extend the JRL from Pandan Reservoir Station to connect with the CRL by the late 2030s. The second phase will extend the JRL from West Coast Station to connect with the CCL’s Kent Ridge Station by the early 2040s. Upon completion, the WCE will provide residents travelling from the West to the city centre with up to 20 minutes of time savings.

In line with the government’s plans to expand the rail network, Chee also announced that the government will invest up to $1 billion over the next five years to maintain high-reliability standards for both newer and older train systems. This investment will go towards condition monitoring systems, new technologies, and workforce training programmes for rail workers. LTA believes that these efforts will allow them to continue delivering convenient, reliable, and resilient public transport for commuters.…

ERA Realty Network, the appointed marketing agent, has announced that Elias Green, a 99-year leasehold condo in Pasir Ris, will be launched for collective sale by public tender on March 6. The guide price for the property is set at $928 million.

Investing in a condominium in Singapore has become an increasingly favored option for both local and foreign investors. The city-state boasts a strong economy, political stability, and a high standard of living, making it an attractive location for property investment. With a thriving real estate market, Singapore offers a multitude of opportunities for investors, with condos being a particularly sought-after option. The convenience, amenities, and potential for high returns make them a popular choice. In this article, we will delve into the advantages, considerations, and necessary steps involved in investing in a condo in Singapore. Furthermore, for those interested in exploring the latest developments in the market, keep an eye out for new condo launches.

Built in 1994, the condo occupies a land area of approximately 516,871 sq ft and is zoned for residential use with a gross plot ratio of 1.4. The development consists of several blocks and offers 419 apartments, with sizes ranging from 1,367 to 1,636 sq ft. As it currently stands, the site has a remaining lease of 65 years from 1991.

According to ERA, the guide price of $928 million translates to a land rate of $1,355 psf per plot ratio (ppr). This figure includes an estimated land betterment charge of $150.8 million for intensification and a top-up to a fresh 99-year lease. It also takes into account a 10% bonus gross floor area.

The owners of Elias Green are currently in the process of submitting an Outline Application to URA for a residential development with a gross plot ratio of 1.8. If approved, the development’s land rate would be approximately $1,245 psf ppr.

If the collective sale is successful, owners can expect to receive gross sale proceeds ranging from approximately $2.04 million to $2.31 million per unit, based on the guide price.

Tay Liam Hiap, managing director of capital markets and investment sales at ERA Singapore, notes that Pasir Ris Town is undergoing significant improvements as part of HDB’s “Remaking Our Heartland” initiative, which will enhance its vibrancy and connectivity.

“As part of this transformation, the new Pasir Ris Bus Interchange is expected to be completed by 2025. This will integrate with the future Pasir Ris Integrated Transportation Hub, which will also include the Cross Island Line (CRL) slated to be operational by 2030, to further enhance connectivity across Singapore,” Tay adds.

This is not the first time that owners at Elias Green have attempted a collective sale. The first attempt was in 2018, when the condo was launched for tender at $780 million. This latest price tag of $928 million represents a 19% increase from the previous asking price.

The tender for Elias Green will close on April 22 at 2pm. For more information and to view the latest listings for properties at Elias Green, please visit Ask Buddy. Some other helpful resources for prospective buyers include a list of condo projects with the most expensive average PSF in District 18, recent condo rental transactions in the district, and a roundup of the most unprofitable landed transactions in the past year. Additionally, we have information on upcoming new launch projects and past condo rental transactions for your reference.…