Month: December 2024

Investing in a Singapore condo has become a favored decision for both local and international investors thanks to the country’s strong economy, stable political landscape, and exceptional quality of life. With the city-state’s real estate market presenting a wide range of options, condos are a particularly attractive choice for their convenience, amenities, and potential for impressive profits. In this article, we will delve into the advantages, factors to keep in mind, and necessary actions to take when considering a Singapore Condo investment.

The Great Room has launched a new co-working space at One O’Connell Street in Sydney, Australia in collaboration with LendLease. The innovative workspace covers 25,360 square feet over two levels in the office building, which was built in 1991 and is situated in the bustling Sydney CBD. Jaelle Ang, CEO of The Great Room, expressed excitement about the partnership with LendLease, stating that it will bring long-term investment and value creation to the new space at One O’Connell Street, resulting in a unique and premium offering that will lead to sustainable profitability.

The Great Room, already established in Singapore, Bangkok, Hong Kong, and Sydney, made its first foray into the Australian market earlier this year with the opening of a location at level 29 of 85 Castlereagh Street in the Sydney CBD. The company plans to continue expanding its global presence, with a total of 12 locations currently in operation. In Singapore, The Great Room recently added a new venue to its portfolio with the opening of Csuites Powered by The Great Room at Paya Lebar Quarter, marking its first venture outside of the CBD. This state-of-the-art space features private manager cabins, soundproof meeting rooms, floor-to-ceiling windows, and ergonomic workstations designed for optimal comfort and productivity.

In addition to offering top-of-the-line facilities and services, The Great Room also hosts monthly networking sessions and panel discussions for its members, creating opportunities for collaboration and connection. Since being acquired by New York-based co-working business Industrious in 2022, members of The Great Room can now access a total of 160 locations operated by both brands across Asia Pacific, Europe, North America, and the UK. With its commitment to providing exceptional co-working solutions, The Great Room is poised for continued success and growth in the years to come.…

Investing in a Singapore Condo requires careful consideration of its potential rental return. This refers to the annual rental income as a percentage of the condo’s purchase price. Various factors like location, property condition, and market demand can greatly impact the condo rental yields in Singapore. Typically, areas near business districts or educational institutions tend to offer higher rental yields due to their high demand. To gain valuable insights into the rental potential of a specific Singapore Condo, it is essential to conduct thorough market research and seek guidance from real estate agents. This will help in making an informed decision regarding the investment.

In order to meet the growing demand for housing and maintain stability in the market, the government has announced the sustained supply of private residential units in the upcoming 1H2025 GLS Government Land Sales (GLS) programme. The programme will offer a total of 8,505 units in the Confirmed List and Reserved List.

Out of the ten plots offered in the Confirmed List, nine are residential sites and three are executive condo (EC) plots. The tenth plot is a residential cum commercial site, with a potential to yield 5,030 residential units including 980 EC units. This is in line with the 5,050 units offered in the Confirmed List of the 2H2024 programme, but almost 60% higher than the average supply in each GLS programme from 2021 to 2023.

The Reserve List includes four private residential sites, one commercial site, three White sites and one hotel site, which could potentially yield an additional 3,475 private residential units and 199,900 sqm (2.15 million sq ft) gross floor area (GFA) of commercial space. This is higher than the 3,090 units offered in the 2H2024 programme, bringing the overall private housing supply in 1H2025 on par with that of 2H2024.

The progressive ramp-up of private housing supply in the GLS programmes over the last three years has increased the inventory of private residential units available for sale, from 16,100 units at the end of 2021 to around 21,000 units as of end-2024. This has contributed to the stabilisation of the private residential market, with a moderation in property price momentum. The URA private residential property price index showed a growth of 6.8% in 2023, compared to 10.6% in 2021 and 8.6% in 2022. The expected price increase for 2024 is around 1.6%.

To address the rise in EC land prices and competition among developers for EC sites, the government has increased the supply of EC sites, with three plots offering 980 units in the Confirmed List of 1H2025. This is a change from previous programmes since 2019, which only offered one EC site in each half-yearly land sales programme. This could potentially help to moderate EC land cost and prices.

Seven new plots will be introduced in the 1H2025 GLS programme, including a plot near the Jurong Lake Gardens in Jurong Lake District, and a plot in the new housing precinct in Bukit Timah Turf City. The site of the former Singapore Indian Fine Arts Society will also be launched for sale, along with a residential and commercial site at Hougang Central, which can yield a new mixed-use development with 835 residential units and over 400,000 sq ft of commercial space. The residential plot in Upper Thomson Road, which saw no bids in the previous tender, will also be offered for sale with more flexibility this time.

In the past year, for the first time, URA did not award the tender for three plots due to low bids. These sites are now listed on the Reserve List.

The majority of the sites in the 1H2025 GLS programme are near MRT stations, which could appeal to developers and homebuyers. The most attractive ones are the mixed-use site in Hougang Central, the Telok Blangah Road plot, the Dunearn Road site in a new housing precinct, and the Lakeside Drive site near the Lakeside MRT station, Jurong Lake Gardens and the Jurong East commercial hub.…

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A boutique condo unit at Gambier Court, located along Kim Yam Road in prime District 9, will be auctioned by Knight Frank Singapore on Dec 12. The three-bedroom unit has a guide price of $2.6 million, which translates to $1,755 per square foot (psf) based on its floor area of 1,485 sq ft.

In recent years, more and more individuals, both locals and foreigners, have been turning to investing in condos in Singapore. This is mainly due to the country’s thriving economy, stable political climate, and overall high quality of life. With a strong real estate market, Singapore offers a range of investment opportunities, and condos are particularly enticing for their convenience, facilities, and potential for high returns. So, if you are considering investing in a condo in Singapore, here are some key benefits, important considerations, and necessary steps to keep in mind. Additionally, you can also browse through new condo launches for more options.

Public records show that the current owner purchased the unit in October 2018 for $1.8 million ($1,212 psf). This is the second time the unit is being put up for auction, with the previous attempt at a higher guide price of $2.64 million ($1,778 psf) on Nov 26 not attracting any bids.

According to Tricia Tan, director of auction and sales at Knight Frank, the owner is selling the unit to be closer to their children’s school. The unit will be sold with vacant possession.

The eighth floor unit comes with three bedrooms and a study area. It was originally a four-bedroom unit, but a previous owner had converted it into a three-bedder. This reconfigured layout offers a more spacious living space, making it attractive for both local and expat families with children.

The balcony of the unit faces northeast, providing unblocked views of the sea and Singapore River. Gambier Court, a 99-year leasehold condo completed in 1999, is a low-density development with just 21 units. This includes 18 apartments spread across a 10-storey block and three strata-landed units housed in conserved shophouses.

The apartments range from two- to four-bedroom units and measure from 936 sq ft to 2,530 sq ft. The three strata-landed units are two-storey properties with an attic, measuring between 2,562 sq ft and 2,885 sq ft.

Located within walking distance to Fort Canning MRT Station on the Downtown Line, Gambier Court is also close to a variety of F&B and retail options. These include the new lifestyle hub New Bahru at Kim Yam Road (formerly Nan Chiau High School), Robertson Quay, UE Square, and Clarke Quay.

The most recent transaction at the condo involved a 1,485 sq ft four-bedder unit on the seventh floor, sold for $2.5 million, or $1,683 psf, in December 2022, based on Realis caveats. The seller had bought the unit in August 2016 for $1.9 million ($1,279 psf), making a net profit of $600,000. For more information on other properties at Gambier Court, visit the latest listings.…

Singapore’s freehold condo Gallop Gables has claimed the top spot for condos with new psf-price highs between Nov 19 and Nov 22. The latest record of $2,299 psf was achieved by a four-bedroom unit of 2,669 sq ft on the second floor, which was sold for $6.14 million on Nov 20. The seller made a profit of $1.64 million, having bought the unit for $4.5 million ($1,686 psf) in July 2017. This sale has surpassed Gallop Gable’s previous high of $2,108 psf from the sale of a two-bedroom unit of 1,163 sq ft on the third floor for $2.45 million on Feb 19.

Gallop Gables is a freehold condo located on Farrer Road in District 10. It consists of 102 units spread across four-storey blocks and was completed in 1997. The condo is within walking distance of Farrer Road MRT Station on the Circle Line.

Coming in second on the list is The Scala, with a new psf-price record of $2,064 achieved from the sale of a four-bedroom unit of 1,259 sq ft on the 12th floor for $2.6 million on Nov 20. The seller had bought the unit for $1.66 million ($1,318 psf) in October 2012. This is the first time the condo has crossed the $2,000 psf mark, surpassing its previous high of $1,969 psf from the sale of a two-bedroom unit of 904 sq ft on the 11th floor for $1.78 million on Sept 9. The seller had bought the unit for $1.31 million ($1,449 psf) in March 2013.

The Scala is a 99-year leasehold condo on Serangoon Avenue 3 in District 19. Completed in 2013, it boasts 468 units across 17 storeys, with a mix of one- to four-bedroom units between 474 sq ft and 2,142 sq ft. It is within walking distance of Lorong Chuan MRT Station on the Circle Line and close to various educational institutions such as Nanyang Junior College, St Gabriel’s Primary School, and Yangzheng Primary School.

Sims Edge also secured a new record of $1,907 psf from the sale of a one-bedroom unit of 409 sq ft on the 13th floor for about $780,000 on Nov 22. The seller had bought the unit for $663,807 ($1,623 psf) in April 2019. This is the first time a unit at this freehold condo has transacted above the $1,900 psf mark. Previously, the record was set at $1,834 psf from the sale of a one-bedroom unit of 409 sq ft on the fifth floor for $750,000 on Jan 18. The seller had bought the unit from the developer for about $527,000 ($1,288 psf) in July 2011.

Located on Geylang East Avenue 2 in District 14, Geylang, Sims Edge is a freehold boutique condo completed in 2014, with 78 units ranging from one to two-bedrooms (from 409 sq ft to 1,195 sq ft). It is within 500m of Paya Lebar MRT Interchange Station on the East-West Line and Circle Line.

When considering the investment potential of a Singapore Condo, it is essential to also assess its potential rental yield. Rental yield refers to the percentage of the property’s purchase price that is earned as annual rental income. In Singapore, this figure can vary greatly depending on factors like location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, tend to offer higher rental yields. To determine the rental potential of a specific Singapore Condo, conducting comprehensive market research and seeking guidance from real estate agents can be highly advantageous. Additionally, adding Singapore Condo to your investment portfolio may prove to be a wise decision.

No new psf-price lows were recorded during the period in review.…

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Investing in a condo in Singapore presents numerous benefits, with one standout advantage being the potential for impressive capital appreciation. This prosperous country boasts a prime location as a global business hub and boasts strong economic fundamentals, making it a desirable destination for real estate investment. Over the years, property prices in Singapore have consistently risen, and particularly in sought-after areas, condos have experienced considerable appreciation. Those who wisely enter the market at an opportune time and hold onto their properties for the long haul can reap significant capital gains. With Singapore Projects continuously emerging, the potential for even greater returns on investment continues to grow.…

Habyt, a leading provider of co-living spaces, has just announced the launch of its newest accommodation location at 5 Kadayanallur Street in Tanjong Pagar. Known as Kada at Maxwell, this 18-room space is the flagship for Habyt’s Flex concept, a strategic move to expand their product offerings beyond long-term co-living options.

In August, Habyt’s CEO for Asia Pacific, Jonathan Wong, revealed that the company was taking steps to add more short-term living options to their portfolio. This led to the launch of their first Flex properties in Singapore – Habyt Novena with 39 rooms and Habyt Kallang with 27 rooms. Other properties under this concept include Habyt Cantonment and Owen House by Habyt.

When thinking about investing in a Singapore Condo, it is crucial to also evaluate its potential rental yield. This refers to the annual rental income in comparison to the property’s purchase price. In Singapore, condo rental yields can vary significantly 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, tend to have a better rental yield. To gain a better understanding of the rental potential of a specific condo, it is important to conduct thorough market research and seek advice from real estate agents.

Kada at Maxwell will offer a diverse range of rooms, including en suite studios and two- to three-bedroom units, all equipped with a fully functional kitchenette. Guests can choose to book these rooms on a nightly, weekly, or monthly basis, giving them the flexibility to stay for a shorter or longer period of time.

With the aim to redefine flexible living in Singapore, Wong states that Kada at Maxwell reflects their commitment to offering unique living experiences and marks the next phase of evolution for Habyt Asia Pacific. Room rates at Kada at Maxwell will start at $180 per night.

This luxuriously flexible living space is located within a beautifully preserved 1920s colonial building designed by the renowned architectural firm Swan & Maclaren. It was one of the earliest modernist buildings in Singapore and was originally built to house the St Andrew’s Mission Hospital for Women and Children.

In September 2023, the Singapore Land Authority (SLA) launched a public tender to lease the property. The tender was evaluated based on the bid price and the quality of the proposed concept, with SLA encouraging bidders to come up with creative lifestyle concepts. Ultimately, the site was awarded to Bethesda Medical, with a monthly rental bid of $103,000. This was the third-highest bid price after Wan Dormitory ($160,000) and The Working Capitol ($108,240).

SLA cited Bethesda’s strong focus on community building and connecting people with businesses as the winning edge for their concept. The first floor of Kada at Maxwell will feature 10 F&B offerings, while the second floor will house a state-of-the-art gym by Limitless, a wellness centre in collaboration with Shiruki Studio, and a co-working space. The third floor will be occupied by Habyt’s Kada at Maxwell.

Residents at Kada will have unlimited and complimentary access to the property’s health and wellness amenities, such as a performance gym, cold plunge, infrared saunas, hot tubs, and foot baths.

Wong adds, “By combining modern conveniences with the timeless charm of a heritage building, we are offering guests a unique and unparalleled lifestyle experience that goes beyond traditional accommodation.”…

The Urban Redevelopment Authority (URA) has recently launched a tender for two residential Government Land Sale (GLS) sites, located at Holland Link and Chuan Grove, on December 3. These 99-year leasehold sites are part of the Confirmed List for the 2H2024 GLS Programme.

The first site, located along Holland Link in District 10, spans 185,141 sq ft and has a maximum gross floor area (GFA) of about 257,225 sq ft. According to URA estimates, it can potentially yield about 230 housing units. This site is the first GLS plot to be launched in the upcoming Holland Plan precinct. Along with Bayshore and Kampong Bugis, the residential area is one of URA’s three upcoming precincts, as pointed out by Marcus Chu, CEO of ERA Singapore.

When looking into investing in a Singapore Condo, it is crucial to evaluate the 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 vary 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, tend to offer more favorable rental yields. To accurately assess the rental potential of a specific condo, it is essential to conduct thorough market research and seek advice from real estate agents. This can provide valuable insights on the current rental demand and potential rental income.

Chu also predicts that developers will bid on this site to take advantage of the first-mover opportunity and inject the first 230 units into the pipeline. He notes that the site is within a 2km radius of several schools such as Methodist Girls’ School, Henry Park Primary School, Pei Hwa Presbyterian Primary School, and National Junior College. This could be a plus point for families with young children looking for priority admission into these schools, he adds.

In addition, the Holland Link site is close to the Brizay Park Good Class Bungalow area. This could indicate that future developments in the Holland Plain precinct will be focused on low-density private residences, according to Mark Yip, CEO of Huttons Asia. Yip predicts that the site will receive between one to two bids, with a top bid of $1,200 to $1,300 psf per plot ratio (psf ppr).

Similarly, Chu expects a muted response to the site, given that there are currently seven residential sites open for tender. He believes that the Holland Link site could receive up to three bids.

Moving on to the second site, located along Chuan Grove off Lorong Chuan in District 19, it measures 170,409 sq ft and has a maximum GFA of 511,232 sq ft. This site can potentially yield about 555 new housing units. It is also within 400m of Lorong Chuan MRT Station on the Circle Line, which is one stop away from the Bishan and Serangoon MRT Stations.

Chu expects the future development on this site to attract HDB upgraders living nearby. In the next four years, around 3,815 Build-to-Order (BTO) units, sized four-room and larger, are set to fulfill their Mandatory Occupation Period (MOP) in Toa Payoh. This could lead to residents of HDB flats in older estates seeking to upgrade their homes, given the increasing number of million-dollar flats in neighboring Serangoon, Bishan, and Toa Payoh, as noted by Chu. Over the last 10 months, the median transaction prices of five-room flats in Bishan and Toa Payoh were $792,000 and $828,000 respectively.

Chu also believes that developers could be encouraged by the better-than-expected sales performance of Chuan Park, which launched last month with 76% of its 916 units sold at an average price of $2,579 psf over its launch weekend. He predicts that the bids for the Chuan Grove site could range from $571 million to $600 million, with a land rate upwards of $1,200 psf ppr. Huttons’ Yip, on the other hand, expects a total of three to five bids, with the top bid between $1,150 and $1,250 psf ppr.

The tenders for both the Chuan Grove and Holland Link sites will close at noon on July 8, 2025, and July 29, 2025, respectively. With these developments, it is expected that the residential landscape in Holland and Lorong Chuan will see significant changes in the coming years.…

Singapore is characterized by a cityscape dominated by towering skyscrapers and state-of-the-art infrastructure. Condos, strategically situated in desirable locations, offer a harmonious blend of opulence and practicality that is sought after by both locals and foreigners. These residential complexes boast a plethora of facilities including swimming pools, fitness centers, and round-the-clock security services, elevating the standard of living and greatly appealing to potential renters and buyers. With these coveted amenities, investors can expect to enjoy higher rental returns and a steady increase in property value over time. Additionally, investing in a condo in Singapore provides a promising opportunity for long-term financial growth.

On December 3, the Urban Redevelopment Authority (URA) released two residential Government Land Sale (GLS) sites under the Reserved List of the 2H2024 GLS Programme. The sites, namely Holland Plain and River Valley Green (Parcel C), are currently open for application and will be triggered for sale only if a developer indicates a minimum price that is accepted by the government. If more than one developer reveals a minimum price near the government’s reserve price, a Reserved List site may also be considered for tender launch.

Spanning approximately 169,175 sq ft, the Holland Plain GLS site has a maximum gross floor area (GFA) of 304,522 sq ft and is capable of yielding 280 residential units. The site has a leasehold of 99 years and is located adjacent to the Holland Link GLS site, which was launched for tender on the same day. According to experts, this site has the potential to accommodate an estimated 230 units.

Huttons Asia’s CEO, Mark Yip, does not anticipate the Holland Plain site being triggered for sale. He believes developers will wait and observe the response to the Holland Link GLS site before making a decision. The tender for the plot will close in July 2025.

Another site available for application under the Reserved List is River Valley Green (Parcel C), situated next to the Great World MRT station on the Thomson-East Coast Line. This site spans 123,964 sq ft and has a maximum gross floor area (GFA) of 433,882 sq ft, and can potentially house an estimated 470 new housing units. Yip believes that this site is also unlikely to be triggered for sale, seeing as there is an existing tender for the neighbouring River Valley Green (Parcel B) plot, which is set to close in February next year. That site can yield 580 units, including 220 long-stay serviced apartments.

Additionally, the site is in close proximity to three other recently awarded GLS sites. In June, River Valley Green (Parcel A) was awarded to Winchamp Investment, a subsidiary of Wing Tai Holdings, after the developer submitted the highest bid of $464 million, equating to $1,325 psf per plot ratio (psf ppr). The site is set to be developed into a residential development comprising of over 400 units.

In April, Zion Road (Parcel A) was awarded to a joint venture between City Developments and Mitsui Fudosan after submitting the only bid of $1.107 billion ($1,202 psf ppr). The joint venture is looking to explore a mixed-use project at the site, featuring around 740 residential units, a retail podium, and a block with 290 rental apartment units.

Lastly, in August, Allgreen Properties was awarded Zion Road (Parcel B) for $730.09 million ($1,304 psf ppr). The site has a potential yield of 610 residential units.

According to Yip, given the upcoming supply from these three sites, there is “little incentive” for developers to trigger River Valley Green (Parcel C) for sale.…