Month: January 2025

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Singapore, known for its bustling metropolis and impressive modern infrastructure, is home to a breathtaking skyline adorned with towering skyscrapers. A common sight in this city are condo developments, strategically placed in highly coveted locations, offering a seamless blend of luxury and convenience that appeals to both locals and expats alike. These exclusive properties come equipped with impeccable amenities such as swimming pools, gyms, and reliable security services, elevating the standard of living for its residents. Not surprisingly, they are highly sought after by potential buyers and tenants. For investors, the allure of these features can result in higher rental returns and a promising increase in property value over time. Condo developments truly epitomize the epitome of urban living in Singapore.

An exclusive bungalow in the prestigious Dalve Estate-Nassim Road enclave is currently on the market for sale through an expression of interest (EOI) exercise. The property is being marketed by Cushman & Wakefield with an estimated price of $60 million, translating to $2,742 per square foot (psf) for a land area of 21,881 sq ft.

Shaun Poh, the executive director of capital markets at Cushman & Wakefield, describes the freehold plot as being strategically located on elevated ground, making it ideal for redevelopment. He also mentions its appeal to potential buyers looking to build their dream multi-generational home or developers who could transform the plot into a luxurious, state-of-the-art Good Class Bungalow (GCB) for discerning individuals.

Positioned next to the renowned Singapore Botanic Gardens, the property offers easy access to the bustling Orchard Road shopping district. It is also in close proximity to top schools such as Singapore Chinese Girls’ School, Anglo-Chinese School (Primary), Nanyang Primary School, St Joseph’s Institution, and Hwa Chong Institution.

According to Poh, the Dalve Estate-Nassim Road enclave is highly sought after by ultra-high net worth individuals, as evident from recent transactions at Nassim Road and Tanglin Hill where record-breaking land rates of $4,500 psf and $6,200 psf were recorded respectively.

Interested parties can submit their bids for the property through the EOI exercise, which will close on 11 February at 3pm.…

A luxurious residential project in New York will be on display to potential buyers in Singapore on January 11 and 12. The development, called 720 West End Avenue, is located in the sought-after Upper West Side of Manhattan and boasts 131 exquisite residences ranging from one to five bedrooms. The units include townhouses, duplexes, and penthouses with private terraces, with sizes ranging from 500 sq ft to over 3,700 sq ft. Prices for these spectacular homes start from US$1.015 million (approximately $1.38 million) for a one-bedroom unit.

Overall, deciding to invest in a Singapore Condo comes with a multitude of advantages. The city-state’s real estate market is highly sought after, making it a prime location for potential financial gains. Additionally, the potential for capital appreciation and attractive rental yields makes purchasing a condo in Singapore an appealing opportunity. However, it is crucial to carefully consider various elements when making this investment, including the location, financing options, government regulations, and the current state of the market. To ensure making the most informed decision, thorough research and seeking professional advice is essential. This is particularly important for foreign buyers, or even local investors looking to diversify their portfolio. With its stable and profitable real estate market, Singapore’s condos provide a compelling opportunity for all types of investors.

Originally built as the Hotel Marcy in 1927, the 17-storey building was designed by renowned New York architect Emery Roth in a stunning Renaissance Revival-style. Now, the property has been transformed into a modern masterpiece by developers Glacier Equities and InterVest Capital Partners. The façade has been meticulously restored, retaining all of its intricate architectural features. In addition, two floors have been added to accommodate the luxurious penthouse duplexes, and the interiors have been completely revamped under the guidance of renowned designer Thomas Juul-Hansen.

The development boasts over 30,000 sq ft of impressive amenities, including a state-of-the-art fitness centre, a private bar and dining room, a library, co-working spaces, outdoor terraces and courtyards, and private parking with bike storage. Interested buyers in Singapore can learn more about this exceptional project at voco Orchard Hotel on January 11 and 12, where Savills Singapore will be showcasing the property. The event will also feature a seminar on the New York real estate market at 3pm on both days.…

is a popular choice for investors in Indonesia

Ayana Bali, a sprawling 90-hectare integrated resort in Bali, Indonesia, has recently launched its latest residential offering, the Alamanda Tower. Consisting of 26 units of one- and two-bedroom apartments, these residences are available for long-term lease with a minimum stay of one month.

Understanding the property ownership regulations and restrictions in Singapore is crucial for foreign investors. While purchasing a condo is generally less restrictive for foreigners compared to landed properties, there are still certain rules to keep in mind. It’s worth noting that foreign buyers are required to pay the ABSD, currently set at 20%, for their initial property purchase. Despite this additional cost, the reliable stability and potential growth of the Singapore Condo market continues to attract foreign investment.

Part of the Ayana Residences, a collection of residential properties within the Ayana Bali estate, the Alamanda Tower is located along the stunning coastline of Jimbaran Bay. The Ayana Bali estate boasts four hotels (Ayana Resort Bali, Ayana Segara Bali, Ayana Villas Bali, and Rimba by Ayana Bali), the renowned Ayana Spa, a golf putting course, a secluded beach, a variety of event venues, and 30 dining options.

Residents of Alamanda Tower will have exclusive access to three rooftop pools, as well as the community center at Ayana Residences, which offers a gym, lap pool, sauna, and steam room. In addition, dedicated concierge services, bi-weekly housekeeping, a buggy service within Ayana Bali, and a discount on dining and selected spa services will be provided.

One-bedroom units at Alamanda Tower, measuring 1,173 square feet, are priced from approximately IDR 70 million ($5,896) per month. Meanwhile, two-bedroom units without a private pool are 1,647 square feet and start from about IDR 100 million per month. For those looking for more space and luxury, two-bedroom units with a private pool range from 2,045 to 2,648 square feet and start from IDR 120 million per month.

Ayana Bali is managed by Indonesia’s Ayana Hospitality, which also operates properties in Jakarta and Labuan Bajo. With its stunning location, array of amenities, and excellent management, Ayana Bali’s Alamanda Tower is a highly sought-after residential option for those looking to call Bali home.…

Surbana Jurong Group has recently announced the appointment of Professor Cheong Koon Hean to their board of directors. The company, in a press release on January 6, expressed confidence that her inclusion will enhance Surbana Jurong’s capabilities in delivering innovative, resilient, and sustainable solutions for the built environment.

Professor Cheong brings with her a wealth of experience in the industry, having served as the CEO of HDB from 2010 to 2020 and as the CEO of URA from 2004 to 2010. Currently, she holds the position of Chairman at the Lee Kuan Yew Centre for Innovative Cities and works as a Professor of Practice at the Singapore University of Technology and Design. Her expertise is also sought after as she serves on the boards of the National University of Singapore and CapitaLand Group, and as Singapore’s non-resident ambassador to Finland.

Singapore has become a highly sought-after destination for those seeking to invest in real estate due to its booming economy, stable political climate, and exceptional standard of living. Among the different sectors of the country’s real estate market, the Condo market stands out as a particularly promising choice. These residential properties are in high demand for their prime locations, plethora of amenities, and potential for lucrative returns. In the following segments, we will discuss the advantages of investing in a Condo in Singapore, key factors to consider, and essential steps to take when considering this type of investment. To get started, visit Condo for more information on available options.

Furthermore, Cheong’s addition to the board aligns with Surbana Jurong’s commitment to sustainability and livability, as she also chairs the Centre for Liveable Cities Advisory Panel under the Ministry of National Development. With her extensive background in urban planning and development, Surbana Jurong is confident that Cheong will play a pivotal role in driving the company’s vision for a smarter and greener future for buildings in 2025 and beyond.…

River Valley Apartments, a prestigious freehold condominium situated in the sought-after District 10, has recently been put up for collective sale through a public tender. According to Knight Frank Singapore, the exclusive marketing agent for the development, the property has a price tag of $56 million.

When it comes to investing in real estate, location is a vital consideration, and this is especially true in Singapore. In this country, the value of condos in central areas or those near essential amenities such as schools, shopping malls, and public transportation hubs tends to appreciate significantly. This is evident in prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD), where property values have consistently shown growth over the years. New Condo Launches are also highly sought after in these areas due to their proximity to good schools and educational institutions, making them an excellent investment choice for families.

The four-storey apartment, built in the 1950s, comprises of 24 units and sits on a land area of approximately 12,408 sq ft that is zoned for residential use with a gross plot ratio of 2.8. It is conveniently located just 500m away from the upcoming Great World MRT Station on the Thomson-East Coast Line. Residents can also enjoy easy access to Great World City and Valley Point Shopping Centre within walking distance. Moreover, the development is surrounded by reputable schools such as River Valley Primary School and Alexandra Primary School, which are both within a 1km radius.

According to the EdgeProp LandLens, the site of River Valley Apartments has the potential to be redeveloped into a boutique residential development with 37 new units, each with an average size of 915 sq ft. The guide price of $56 million translates to a land rate of approximately $1,622 psf per plot ratio (psf ppr) with a nominal land betterment charge. Including the 7% bonus gross floor area allowed for balconies, the price comes up to approximately $1,583 psf ppr.

Chia Mein Mein, the head of capital markets (land and collective sale) at Knight Frank Singapore, notes that the location of the development is in close proximity to three Government Land Sale (GLS) sites that were sold last year. In April 2024, Zion Road (Parcel A) was acquired by a joint venture between City Developments and Mitsui Fudosan for $1.107 billion ($1,202 psf ppr). In June 2024, a GLS site at River Valley Green was sold for $463.99 million ($1,325 psf ppr) to Wing Tai Holdings. Two months later, Zion Road (Parcel B) was awarded to Allgreen Properties for $730.9 million ($1,304 psf ppr) in August.

Chia adds that despite the sluggish home sales activity in the Central Region, the interest in the River Valley and Zion Road location has remained strong among developers. This could potentially be due to their belief that there will be high demand for prime properties in this area after a period of subdued activity.

Owners of the units at River Valley Apartments, which range from 947 to 1,238 sq ft, are estimated to receive minimum sale proceeds of $2 million to $2.6 million if the development is sold. The collective sale tender for River Valley Apartments will close on Feb 18 at 3pm. Interested parties can check out the latest listings for River Valley Apartments properties on EdgeProp’s Ask Buddy feature, which includes past sale and rental transactions, as well as a price trend chart.…

URA Greenlights Plan for Golden Mile Tower Conservation

The Urban Redevelopment Authority (URA) has given the green light for the voluntary conservation of Golden Mile Tower, subject to a successful collective sale and redevelopment by a developer.

Documents reviewed by EdgeProp Singapore reveal that the government has indicated it will consider increasing the site’s gross plot ratio (GPR) from 4.46 to 5.6, based on its existing area of 93,902.5 sq ft, if the new development conserves at least the current cinema block.

This would lead to a significant increase in the site’s gross floor area (GFA) from its current 419,142 sq ft to 525,854 sq ft. Furthermore, voluntary conservation will also allow for a maximum building height of 164m, compared to the current limit of 145m.

The latest collective sale attempt for Golden Mile Tower took place in August 2020, with a reserve price of $556 million. It was the third en bloc attempt by the owners of the 99-year leasehold development.

However, according to Anna Tan, business development director at Tag Realty, the marketing agent for the collective sale, the reserve price for the development remains unchanged. This translates to a land rate of $1,350 per square foot, which includes the cost of renewing the land tenure but does not factor in land betterment charges.

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When it comes to investing in condos in Singapore, there is an important factor that must be taken into consideration – the government’s property cooling measures. To maintain a stable real estate market and prevent speculative buying, the Singaporean government has implemented several measures over the years. One of these measures is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreigners and those buying multiple properties. While this may impact the short-term profitability of condo investments, it also contributes to the long-term stability of the market, making it a more secure environment for investing in condos. Condo investors should keep these measures in mind when considering potential investments.

“The increase in building height and GFA under the voluntary conservation options opens up opportunities for developers to re-imagine the property with a striking skyline presence. It also means that commercial and hotel spaces in the new development could feature 5m floor-to-ceiling heights, while residential units could offer 3.6m ceiling heights,” says Tan.

The approval for voluntary conservation of Golden Mile Tower is significant as its neighbouring property, Golden Mile Complex, was gazetted for conservation in 2021. Golden Mile Complex is currently being redeveloped by Perennial Holdings and Far East Organization. The commercial units were launched in December 2020, and the new residential units within a 45-storey tower are expected to be launched this quarter.

According to Tan, the redevelopment of Golden Mile Tower presents a rare opportunity to develop a mixed-use development in a prime location along Beach Road, given the limited land supply in the area and the price uplift due to ongoing rejuvenation efforts like the launch of Golden Mile Singapore and the neighbouring Kallang Alive masterplan.

She adds that the building’s heritage and potential for the future make it a unique investment opportunity for both local and international investors.

In conclusion, the URA’s approval for the voluntary conservation of Golden Mile Tower is a significant milestone for the development, which has been in the spotlight for its collective sale attempts. If a developer takes on the project, the rejuvenation efforts will breathe new life into the iconic property and attract a new generation of investors and tenants to the area.…

Purchasing a condo in Singapore has become a highly sought-after choice for both local and international investors. This is due to the country’s strong economy, stable political climate, and exceptional quality of life. The real estate market in Singapore offers a plethora of opportunities, making condos an attractive option for their convenience, variety of amenities, and potential for profitable returns. In this article, we will explore the benefits, important factors to consider, and necessary steps involved in investing in a condo in Singapore.

On the weekend of January 4-5, Bagnall Haus at Upper East Coast attracted 1,500 visitors to its sales gallery. According to Teo Hong Lim, executive chairman of Roxy-Pacific Holdings, the developer of Bagnall Haus, many of the visitors were families and existing residents in the East.

Bagnall Haus is one of the first new developments to launch in 2025. The freehold condo, which consists of 113 units, is a redevelopment of the former Bagnall Court. The land was purchased in January 2023 for $115.28 million.

The development is located within a five-minute walk from the upcoming Sungei Bedok MRT Interchange Station and the Upper East Coast Bus Terminal. Buyers can easily search for the latest New Launches to find out the transaction prices and available units.

The last new project launched in the Upper East Coast Road neighbourhood was 15 years ago. In order to attract a diverse group of buyers, including investors and owner-occupiers, singles and families, the developer has a mix of one-bedroom plus flexi units ranging from 495 sq ft to five-bedroom units of 1,528 sq ft. The prices start from $1.235 million ($2,495 psf) and the average indicative price is approximately $2,450 psf.

Buyers can also check out the latest listings for Bagnall Haus properties on Ask Buddy. For a comprehensive overview of the project, they can take a look at the project summary for Bagnall Haus condo. Users can also compare the price trend of HDB vs Condo vs Landed properties and see the latest listings and prices for recently launched projects and upcoming new launch projects. They can also compare the price trend of Condo new sale vs EC new sale to make an informed decision.…

on Nov 25, 2024?Record-breaking 1,000 HDB resale flats hit $1 mil in 2024

HDB’s flash estimates released on Jan 2 showed that prices of resale flats rose by 2.5% q-o-q in 4Q2024, a slightly slower pace compared to the 2.7% q-o-q growth in the previous quarter. This marks the 19th consecutive quarter in which prices have increased in the HDB resale market.

According to Christine Sun, chief researcher and strategist at OrangeTee Group, the flash estimates indicate that HDB resale prices grew by 9.6% in 2024, doubling the 4.9% growth recorded in the previous year. However, this growth rate is still less than the 10.4% increase in 2022 and the 12.7% growth in 2021.

The latest HDB caveat data from data.gov.sg, downloaded at 8.15am on Jan 2, reveals a slowdown in price growth for certain flat types, notes OrangeTee. For instance, the median price of four-room flats in 4Q2024 increased by 2.5% q-o-q, a slower pace compared to the 3.4% growth in 3Q2024.

Purchasing a condo requires careful consideration of the financing options available. In Singapore, various mortgage plans are offered, but it is crucial to understand the Total Debt Servicing Ratio (TDSR) framework. This framework serves as a limit on the amount of loan that a borrower can obtain, taking into account their income and current debt obligations. To make well-informed decisions about financing and avoid excessive borrowing, it is advisable to seek guidance from financial advisors or mortgage brokers. Furthermore, keeping up to date with New Condo Launches can also be beneficial in understanding the current market and making smart investments.

Similarly, prices for two-room flats rose by 2% q-o-q in 4Q2024, slower than the 3.9% growth in 3Q2024. Meanwhile, executive flats saw a 1.2% q-o-q price increase in 4Q2024, compared to 1.7% in the previous quarter.

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

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

HDB resale volume decreased by 3.6% y-o-y to 6,314 units in 4Q2024, down from 6,547 transactions in 4Q2023. It also saw a 22.5% q-o-q decrease from 8,142 units in 3Q2024.

Sun attributes the decline in HDB resale transactions to the launch of over 8,500 new flats in the October Build-to-Order (BTO) exercise, with a large number of units located in prime and desirable locations. She adds that the attractive features of these flats diverted demand away from the resale market towards the BTO market.

The seasonal year-end school holidays, when many Singaporeans tend to travel abroad, also slowed down sales. As a result, house viewings and sales activities typically decrease during this period.

However, according to Wong Siew Ying, head of research and content at PropNex, the slower growth in 4Q2024 can be attributed to the government’s intervention in August 2024, when the loan-to-value (LTV) limit for HDB loans was reduced by five percentage points to 75%. She adds that the August 2024 measures are likely to have an impact on the market, leading to weaker sales and slower growth in the HDB resale price index. The lower resale volume during the quarter is also likely to put a drag on prices, she adds.

Total resale volume in 2024 up by 8% y-o-y

Despite the decline in resale transactions in 4Q2024, the total resale volume for the year reached 28,876 units, an 8% increase from the 26,735 units recorded in the previous year and the 27,896 units in 2022. However, this figure is still lower than the peak of 31,017 units in 2021.

Decline in million-dollar flat transactions in 4Q2024

The decrease in resale transactions in 4Q2024 led to a drop in the number of million-dollar flat transactions, with only 283 units sold as compared to 331 units in 3Q2024. However, the total number of million-dollar transactions hit a record high of 1,033 units in 2024, more than double the 469 million-dollar transactions recorded in the previous year, says OrangeTee’s Sun.

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

New classification of BTO flats and higher demand for central locations

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

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

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

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

Price growth and transaction volume expected to moderate in 2025

According to Eugene Lim, resale prices are likely to grow at a more measured pace in 2025 due to a reduced supply of flats reaching the MOP, which has been a key driver of price growth in recent years. He expects resale prices to grow by 3% to 6%, with a projected 26,000 to 27,000 resale units changing hands by the end of 2025.

PropNex expects the HDB resale market to perform well in 2025, thanks to healthy housing demand and fewer MOP flats coming on the market. Wong Siew Ying says that resale flats will continue to attract strong buying interest from those with more pressing housing needs, applicants who cannot secure a BTO flat, and families with a tighter housing budget. She projects that HDB resale flat prices may rise by 5% to 7% in 2025, with a resale volume forecast of 29,000 to 30,000 units.

Reduced supply of BTO flats in 2025 leading to higher demand and lower interest rates

According to Huttons’ Lee, the supply of BTO flats in 2025 will be further reduced to 17,290 units, 12% lower than the supply in 2024. As there is no upfront information on the BTO projects with a shorter waiting time, buyers are likely to turn to the resale market, he reckons. Lower interest rates may also encourage buyers to take on a more significant loan amount to purchase a new home. He adds that buyers may also look for executive condos or resale condos, while the number of million-dollar flat transactions may stabilise in the range of 900 to 1,200 units in 2025.

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

The latest HDB flash estimates, released on January 2, reveal a 2.5% quarter-on-quarter growth in resale flat prices for the fourth quarter of 2024. This marks the 19th consecutive quarter of growth in the HDB resale segment, although it is a slight deceleration from the 2.7% growth recorded in the previous quarter. It is clear that the resale market continues to experience a positive trend.

The flash estimates also showed that HDB resale prices in 2024 increased by 9.6%, which is double the growth rate seen in 2023. This is still slower than the growth rates in 2022 (10.4%) and 2021 (12.7%). According to Christine Sun, chief researcher and strategist at OrangeTee Group, this is a sign that the HDB resale market is still performing well.

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In summary, the benefits of investing in a condo in Singapore are plentiful. With a high demand for condos, the potential for capital appreciation, and attractive rental yields, it is a lucrative option for investors. However, careful consideration of crucial factors such as location, financing, government regulations, and market conditions is necessary. Thorough research and seeking professional advice can help investors make informed decisions and maximize their returns in the dynamic real estate market of Singapore. Whether you are a local investor looking to diversify your portfolio or a foreign buyer in search of a stable and profitable investment, condos in Singapore, such as Singapore Projects, present a compelling opportunity.

However, data from data.gov.sg downloaded at 8.15am on January 2 showed a slowdown in price growth for some flat types, notes OrangeTee. For instance, the median price of four-room flats only saw a 2.5% quarter-on-quarter increase in the fourth quarter of 2024, compared to a 3.4% growth in the previous quarter.

Similarly, two-room flats registered a 2% quarter-on-quarter increase in the fourth quarter of 2024, which is slower than the 3.9% growth seen in the previous quarter. Meanwhile, executive flats recorded a 1.2% quarter-on-quarter price increase in the fourth quarter of 2024, compared to a 1.7% growth in the third quarter.

On the other hand, prices for five-room flats rose by 3.2% in the fourth quarter of 2024, faster than the 1.2% growth in the third quarter.

Resale volume down, possibly due to seasonal dip and government intervention

According to the HDB caveat data from data.gov.sg, downloaded on January 2 at 8.15am, there was a decline in resale volume by 3.6% year-on-year in the fourth quarter of 2024, with only 6,314 units transacted compared to 6,547 transactions in the same period in 2023. The resale volume was also down by 22.5% quarter-on-quarter, from 8,142 units in the third quarter of 2024.

Sun attributes this decline in resale transactions to various factors. One possible reason is the launch of over 8,500 new flats in the October 2024 Build-to-Order (BTO) exercise, with many of these units in prime and desirable locations. This may have diverted demand away from the resale market towards the BTO market, as these new flats come with attractive features such as scenic views and proximity to MRT stations.

Additionally, the seasonal year-end school holidays may have also contributed to the decrease in sales volume. During this period, many Singaporeans tend to travel abroad, resulting in a decrease in house viewings and sales activities.

Furthermore, Wong Siew Ying, head of research and content at PropNex, believes that the slower pace of growth in the fourth quarter of 2024 could also be attributed to government intervention. In August 2024, the loan-to-value (LTV) limit for HDB loans was reduced by five percentage points to 75%. This could be why sales have slowed down and price growth has decelerated.

Resale volume still higher than previous years, but below peak levels

While the total resale volume in 2024 was 28,876 units, which is 8% higher than the 26,735 units recorded in the previous year, it is still lower than the peak of 31,017 units in 2021.

The decline in million-dollar flat transactions in the fourth quarter of 2024

The decline in resale transactions in the fourth quarter of 2024 also led to a decrease in million-dollar flat transactions, with only 283 units transacted compared to 331 units in the previous quarter. Despite the drop, the total number of million-dollar transactions reached a record high of 1,033 units in 2024, which is more than double the 469 million-dollar transactions recorded in the previous year, according to OrangeTee’s Sun.

Toa Payoh leads in million-dollar resale flat deals

Based on caveats and may differ from actual numbers, Toa Payoh town had the highest number of million-dollar resale flat transactions in the fourth quarter of 2024, with 58 such transactions. Out of these, 20 were for four- and five-room units at Alkaff Vista in Bidadari Park Drive, which had recently crossed the five-year minimum occupation period (MOP).

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

Expectations for 2025: Slower price growth and moderated transaction volume

It is projected that HDB resale prices will continue to rise in 2025, however, at a slower pace than in previous years. According to OrangeTee, prices have already reached new highs in many areas, which creates affordability concerns for potential buyers. Furthermore, the ongoing supply of BTO flats is expected to help moderate price growth in the secondary market. However, the extent of price stabilisation will depend on the number of BTO flats that the government plans to release in the upcoming years.

In February 2025, HDB is set to launch its largest sale of balance flats (SBF) exercise, offering more than 5,500 flats across various towns, says Lee Sze Teck, senior director of data analytics at Huttons Asia. This could potentially lead to more buyers waiting to see their luck with the SBF, instead of buying resale flats, which may further drive up prices.

Sun from OrangeTee projects that HDB resale flat prices may rise by 5% to 7% in 2025, with a resale volume forecast of 29,000 to 30,000 units. Lim from ERA, on the other hand, expects resale prices to grow by 3% to 6% and resale volumes to reach 26,000 to 27,000 units.

PropNex’s Wong is also optimistic about the HDB resale market in 2025, projecting a 5% to 8% growth in prices and a resale volume of 26,000 to 28,000 units.

With the supply of BTO flats in 2025 expected to be reduced to 17,290 units, around 12% lower than the supply in 2024, Huttons’ Lee believes that buyers may turn to the resale market instead. Additionally, with potential lower interest rates, some buyers may set their sights on either an executive condo (EC) or a resale condo. As such, he projects that the million-dollar flat market may stabilise in the range of 900 to 1,200 units in 2025.…

Roxy-Pacific Holdings, a leading property developer, is set to unveil the 113-unit Bagnall Haus on Saturday, January 4, along Upper East Coast Road. This freehold development is a transformation of the former Bagnall Court, which was acquired by Roxy-Pacific in an en bloc deal for $115.28 million in February 2023. The land rate of $1,106 psf ppr reflects the potential of the project.

Investing in Singapore Projects has become a highly desirable option for both local and foreign investors. This is due to Singapore’s robust economy, stable political climate, and superior quality of life. The thriving real estate market in the country offers a wide range of investment opportunities, with condos being a top choice for many. Their convenience, amenities, and potential for high returns make them a lucrative investment option. In this article, we will explore the benefits of investing in a condo in Singapore, important factors to consider, and the necessary steps to take.

Situated in a low-rise, five-storey block, Bagnall Haus offers a range of 113 apartments and two shop units. The unit mix includes one-bedroom plus flexi units, starting from 495 sq ft, and five-bedroom apartments of 1,528 sq ft. Prices for a one-bedroom plus flexi unit begin from $1.235 million ($2,495 psf).

According to Roxy-Pacific Holdings’ executive chairman, Teo Hong Lim, the average indicative price for the development is expected to be around $2,450 psf. The launch date will be announced after the weekend preview.

Bagnall Haus is strategically located less than a five-minute walk away from the upcoming Sungei Bedok MRT Interchange Station for the Thomson-East Coast (TEL) and Downtown (DTL) lines, expected to be completed in 2028. It is also in close proximity to the Upper East Coast Bus Terminal.

Furthermore, the project is opposite to a future commercial and residential mixed-use development site in the upcoming Bayshore precinct. Teo believes that the future residents of Bagnall Haus will benefit from the upcoming amenities in the Bayshore precinct.

The last private condo project launched in the Upper East Coast neighbourhood of District 16 was Eastwood Regency, a 75-unit boutique apartment by Fragrance Group, in January 2010. The project was completed the same year. The neighbouring Country Park Condo, a 160-unit freehold development by UOL Group, was launched for sale in 1999 and completed in 2003. Another neighbouring project, the 99-year leasehold mixed-use Eastwood Centre, with 48 residential units, was launched in 1996 by Ho Bee Land and completed in 1998.

Amenities in the immediate vicinity include the upcoming Bedok Food Court, the nearby Eastwood Centre with a Cold Storage supermarket, a medical clinic, a dentist, a nail and beauty spa, and a pet shop. Families with school-going children can choose from a range of reputable schools, such as Temasek Primary and Temasek Secondary School, Bedok Green Primary School and Anglican High School.

For more information on available units and transaction prices, interested buyers can check out the latest listings for Bagnall Haus properties. They can also use search engines like Buddy to find any condo rental listings in District 16, recently launched projects in the area, and compare price trends of HDB, condo, and landed properties. The total number of units in Bagnall Haus can also be found through these resources.…