Month: February 2025

CapitaLand India Trust (CLINT) has announced its plans to acquire an office project in Nagawara, Outer Ring Road, Bangalore, for $233.6 million. The investment will be made through a forward purchase agreement with Maia Estates Offices.

The acquisition of this 1.13 million sq ft office project is expected to bring in higher earnings and distributions for unitholders. The office project is part of a mixed-use development that includes office and retail space. As part of the deal, CLINT will fully finance the development of the office project and earn interest on the funding at a rate higher than its borrowing cost.

If you’re interested in investing in overseas properties, you can explore projects available for sale around the world.

Under the terms of the agreement, CLINT will acquire the office space in the first half of 2030, while Maia will retain the retail portion. This will increase the operational area of CLINT’s portfolio in Bangalore from 8.7 million sq ft to 9.9 million sq ft. The company’s other properties under development in the city include two office buildings in Gardencity, an IT Park at Hebbal, and another IT park at ITPB.

When contemplating an investment in a condo, it is crucial to also evaluate its potential rental yield. Rental yield refers to the yearly rental income as a percentage of the property’s purchase price. In Singapore, rental yields for condos can differ greatly based on factors such as location, property condition, and market demand. High rental demand areas, like those near business districts or educational institutions, typically offer more favorable rental yields. It is essential to conduct extensive market research and seek guidance from real estate agents to gain valuable insights into the rental potential of a specific condo. Checking out Singapore Projects can also provide helpful information.

Once the office project is acquired, CLINT’s portfolio will see a 4.0% increase in size, from approximately 30.2 million sq ft to 31.47 million sq ft, inclusive of its committed investment pipeline. CEO of CLINT, Gauri Shankar Nagabhushanam, believes that this strategic acquisition will further strengthen the company’s presence in Bangalore, which is one of India’s leading office markets. In 2024, Bangalore recorded the highest ever leasing levels for Grade A office space, with the ORR being the largest office micro-market in the city. The addition of this prime office property will allow CLINT to offer its tenants a wider range of premium office space options across key micro-markets in Bangalore.

On Feb 21, units in CLINT closed at $1. This announcement follows the recent acquisition of International Tech Park Pune from CLINT’s subsidiary and joint venture partner for $221.9 million, demonstrating the company’s continued growth strategy. CLINT is also working with India developer L&T Realty to develop 6 million sq ft of prime offices in India.…

Sim Lian Group has announced that its newest executive condominium (EC) project, Aurelle of Tampines, will be open for e-application starting from Feb 22. This highly anticipated 760-unit EC is situated at Tampines Street 62 in Tampines North and marks the first new EC project launch for the year 2024.The prime location of Aurelle of Tampines is just a five-minute walk from the upcoming Tampines North Transport Hub, which comprises of the Tampines North MRT Station (on the Cross Island Line expected to be in operation by 2030), air-conditioned bus interchange and is integrated with the mixed-use development, ParkTown, which also includes a mall, community club, hawker centre and residential component known as ParkTown Residence. In fact, ParkTown Residence, which offers a total of 1,093 units, will also be officially launched for sale on the same day as Aurelle of Tampines.Constructed on a vast land area spanning 301,391 sq ft, Aurelle of Tampines boasts fourteen 14-storey residential blocks. According to Sim Lian Group, the units are designed to cater to the needs of young professionals and growing families, hence a mix of three- to five-bedroom units are being offered.Prices for available units at Aurelle of Tampines range from $1.417 million ($1,687 psf) for a three-bedroom unit spanning 840 sq ft, $1.689 million ($1,651 psf) for a four-bedroom unit of 1,023 sq ft and $2.258 million ($1,665 psf) for the largest five-bedroom unit measuring 1,356 sq ft. The development also houses a stunning clubhouse which overlooks seven inviting pools, adding a touch of luxury for its residents. In addition, future residents can also look forward to the upcoming Tampines North MRT Station, air-conditioned bus interchange, hawker centre and mall as part of a mixed-use development, making living at Aurelle of Tampines extremely convenient.The neighbouring executive condominium, Tenet, is also located just next door to Aurelle of Tampines with a total of 618 units and is developed by joint developers, Qingjian Realty and Santarli Realty. Launched in December 2022, the project has sold 617 units at an average price of $1,385 psf. According to the latest transaction prices, the highest price per square foot was $1,651 with a 1,367 sq ft unit sold at $2.26 million in December. As of Feb 21, there is only one available unit left for sale at Tenet.For interested buyers, the e-application period for Aurelle of Tampines starts from Feb 22 and ends on Mar 4, while sales bookings commence on Mar 8. The appointed marketing agents for this development are ERA, Huttons, OrangeTee and PropNex.Under the current EC regulations, during the initial launch (first 30 days), 70% of the units are allocated for first-time buyers while only 30% are available to second-timers. For more information on Aurelle of Tampines, Tenet and ParkTown Residence, do check out their latest listings and available units on Ask Buddy, your trusted source for all things property in Singapore.

Investing in a condominium in Singapore presents a lucrative opportunity, with a plethora of benefits such as a high demand, potential for capital appreciation, and attractive rental yields. However, before making any investment decisions, it is crucial to thoroughly consider various factors such as location, financing options, government regulations, and current market conditions. Seeking professional advice and conducting comprehensive research can aid in making informed choices and maximizing returns in the dynamic real estate market of Singapore. Whether you are a local investor seeking to diversify your portfolio or a foreign buyer in search of a stable and profitable investment, the numerous condominium projects in Singapore offer a compelling opportunity to achieve your investment goals. Therefore, investing in a condo in Singapore, with the help of sites like Singapore Projects, is a wise choice for those looking for a secure and prosperous investment in the country.…

Investing in real estate in Singapore is a strategic decision, and location plays a critical role in its success. A prime location greatly influences the value of a property, making it a wise investment choice. In Singapore, condos located in central areas or near essential amenities such as schools, shopping malls, and public transportation hubs have seen a steady increase in value over the years. For instance, areas like Orchard Road, Marina Bay, and the Central Business District (CBD) have been consistently sought after for their prime location, which has led to a rise in property values. Families looking to purchase a Singapore condo also prioritize proximity to reputable schools and educational institutions, making these areas even more desirable and boosting their investment potential. Therefore, when it comes to real estate investment in Singapore, location should be carefully considered to ensure a profitable return on investment.

A landmark deal has been sealed in River Valley with the successful collective sale of River Valley Apartments, a freehold condominium located along River Valley Road. The property, which was marketed by Knight Frank Singapore, has been sold for an impressive $56 million, making it the first residential collective sale of 2025 to be finalized.

Under the terms of the sale, each strata-titled owner can expect to receive a minimum of $2 million to $2.6 million, based on the selling price of the development. The buyer, a Singapore family office, has plans to redevelop the site into serviced apartments. This development has been granted an Outline Permission by the Urban Redevelopment Authority (URA).

According to Knight Frank Singapore’s Head of Capital Markets (Land & Collective Sale), Chia Mein Mein, this successful deal is a significant achievement given the current challenging collective sale market, especially in the residential sector.

Earlier in 2023, a prime district collective sale site was sold to Aurum Land for $66.8 million. The sale of River Valley Apartments is a significant milestone, being the first residential collective site sold in a prime district since then.

Chia attributes the strong interest in the tender for River Valley Apartments to its excellent location in the sought-after River Valley neighbourhood, and its potential for redevelopment into a serviced apartment project that will cater to the growing demand for alternative living options in Singapore.

River Valley Apartments is a four-storey building comprising of 24 units, occupying a 12,408 sq ft site with a residential zoning and gross plot ratio of 2.8 as per the latest Master Plan. The collective sale of this development was launched on Jan 7, with a guide price of $56 million.

Jerry Tan, Chairman of River Valley Apartments’ collective sale committee, reveals that previous attempts to initiate a collective sale exercise were unsuccessful, but this time, they managed to secure 80% of the owners’ consensus to proceed with the tender launch.

Interested buyers can now check out the latest listings for River Valley Apartments properties, with BuddyListings offering an extensive selection of properties for sale and rent in this highly desirable district.…

A 2,454 sq ft, four-bedroom unit was sold at Mount Faber Lodge for $5 million in FebruaryA 2,454 sq ft, four-bedroom unit was sold at Mount Faber Lodge for $5 million in FebruarySunset Lodge at Clementi Park changed hands for $1.4 million, making the seller a profit of $1.1 million. (Photo: EdgeProp Singapore)

Rewritten:

The recent sale of a sprawling 2,486 sq ft four-bedroom unit on the third floor of luxury development Nassim 9 has garnered attention as the most profitable private non-landed resale transaction during the period of February 4 to February 7. The unit was sold for an impressive $7.5 million or $3,016 per square foot on February 7.

According to data from the Urban Redevelopment Authority (URA), the previous owner had purchased the unit for $4.12 million ($1,641 psf) back in December 2005. This means that they made a substantial profit of $3.42 million or 83.8% of their original purchase price. This translates to an annualised gain of 3.2% over a period of 19 years.

This recent transaction marks the third-highest profitable resale at Nassim 9 to date. The current record was set in March 2023 when a larger four-bedroom unit spanning 2,756 sq ft was sold for $9.5 million or $3,448 psf. The previous owner had bought the unit for $4.12 million (1,495 psf) in December 2005. This means that they made an impressive profit of $5.38 million (130.6%) or an annualised gain of 5% over a period of 17 years.

Prior to the sale on February 7, the last recorded transaction at Nassim 9 was in March 2023, when a 3,251 sq ft four-bedroom unit was sold for $10.3 million ($3,169 psf). This resulted in a profit of $3.3 million for the previous owner.

Located on Nassim Road in Prime District 10, Nassim 9 is a boutique condominium with only eight units. Completed in 2002, the four-storey development comprises four-bedroom units ranging from 2,756 sq ft to 3,423 sq ft.

Another profitable transaction during the same period was at Mount Faber Lodge, a boutique freehold development located on Mount Faber Road in District 4. This time, a triplex penthouse unit was sold for $5 million or $1,350 psf on February 5. The previous owner had bought the unit for $1.6 million in August 2001. This translates to a profit of $3.4 million or 212.5%, with an annualised gain of 5% over a period of 23 and a half years.

The recent sale at Mount Faber Lodge marks the most profitable transaction to date. The previous record was held by a three-bedroom unit spanning 2,669 sq ft on the third floor, which was sold for $3.89 million ($1,457 psf) in October 2022. The previous owner had purchased the unit for $1.3 million ($487 psf) in January 2006. This resulted in a profit of $2.59 million (199.2%), with an annualised gain of 4.7% over 14 years.

Investing in real estate is a strategic decision, and location plays a crucial role in its success. This is particularly true in Singapore, where the value of condos can be greatly influenced by their location. The proximity to key amenities like schools, shopping malls, and public transportation hubs can significantly impact the appreciation of a property. Prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD) are known to have consistent growth in property values. Families also find condos in these areas highly desirable due to the convenience of being close to good schools and educational institutions, making them even more attractive as an investment option. With condos strategically located in these prime areas, investors can expect a high potential for profitable returns.

Completed in 1983, Mount Faber Lodge comprises 84 units ranging from studio units at 1,098 sq ft to five-bedroom triplex penthouses at 3,703 sq ft to 3,724 sq ft. The development has been steadily increasing in value with its rolling 12-month average price reaching $2,082 psf, a 4% year-on-year increase.

The third most profitable transaction during the period was at Amaryllis Ville, a 99-year leasehold condominium in Prime District 11. The sale involved a three-bedroom unit on the 28th floor, which was sold for $2.65 million ($2,141 psf) on February 5. The previous owner had bought the unit for $1.09 million in June 2005, resulting in a profit of $1.56 million (142.2%). This translates to an annualised gain of 4.6% over a period of 19 and a half years.

The recent sale marks the third most profitable transaction at Amaryllis Ville. The current record belongs to a three-bedroom unit on the 17th floor, which was sold for $3.75 million ($1,885 psf) in September 2023. The previous owner had purchased the unit for $1.95 million ($979 psf) in June 2009. This resulted in a profit of $1.8 million (92.5%), or an annualised gain of 4.7% over a period of 14 years.

Based on resale data from EdgeProp Singapore, prices at Amaryllis Ville have been on the rise with the average price reaching $2,082 psf in February 2024, a 4% year-on-year increase. The development comprises one- and two-bedroom units ranging from 657 sq ft to 1,378 sq ft, and three-bedroom units ranging from 958 sq ft to 2,637 sq ft. Nearby condominiums include Rochelle at Newton and Kopar at Newton.

Overall, there were no unprofitable transactions during the period in review, showcasing the strong demand for luxury properties in Singapore. Interested buyers can check out the latest listings for Nassim 9 and other condominium properties in the area.…

In the week of Feb 1 to 7, 8M Residences achieved a new high of $2,384 psf when a two-bedroom unit spanning 646 sq ft was sold for $1.54 million. This marks the first time a unit at the development has been sold for more than $2,300 psf. The record-setting sale surpasses the previous peak of $2,261 psf set in April 2023.The 8M Residences is a freehold development completed in 2017 with 68 units. It comprises one- to three-bedroom units and penthouses ranging from 517 to 1,841 sq ft. Over the last three years, resale prices at the condo have consistently risen, increasing 7.3% from an average of $2,028 psf in February 2022 to $2,177 psf in February 2025.Situated within walking distance of EtonHouse International Research Pre-School, Katong Swimming Complex, and Katong Park MRT Station, the condo offers convenient access to amenities and schools.Meanwhile, Kovan Jewel, a 34-unit boutique condo along Kovan Road in District 19, took second place on the list with the sale of a three-bedroom unit at $2.41 million on Feb 7. This sets a new high of $2,236 psf for the development, surpassing the previous peak set in August 2023 at $2,228 psf. Completed last year, Kovan Jewel comprises freehold one- to three-bedroom units and four-bedroom penthouses ranging from 624 to 2,153 sq ft. As of Feb 18, 17 units (50%) have been sold at an average price of $2,111 psf, with the first unit sold this year being the three-bedroom unit on the second floor.On the third spot is Oleanas Residence, where a 1,141 sq ft, three-bedroom unit on the sixth floor was sold for $2.52 million on Feb 3, setting a new record of $2,207 psf. This surpasses the previous peak of $2,157 psf set in August 2022. The most expensive resale unit at the condo is a 1,636 sq ft, three-bedroom unit that sold for $3.3 million ($2,017 psf) in December 2022. The freehold condo, situated along Kim Yam Road in District 9, comprises one- to four-bedroom units ranging from 1,141 to 2,152 sq ft and was completed in 1999.Over the last three years, Oleanas Residence has recorded just four resale transactions, with the highest transacted price being $3.3 million ($2,129 psf) for a 1,550 sq ft, four-bedroom unit in April 2024. It is within walking distance of Great World MRT Station and Fort Canning MRT Station and is surrounded by educational institutes such as River Valley Primary School and Outram Secondary School within a 1km radius.

Investing in a condo in Singapore offers several advantages, with one of the most prominent being the potential for capital appreciation. Singapore serves as a crucial global business center, alongside its solid economic foundations, which fuels a constant demand for real estate properties. Throughout the years, the real estate market in Singapore has exhibited a consistent upward trend, especially for condos situated in prime locations, resulting in substantial appreciation. For those who invest at the right time and hold their properties for a considerable period, the potential for significant capital gains is high. With the inclusion of a desirable Condo in this thriving market, investors can enjoy even more promising returns.…

Heeton Holdings has released its financial results for the second half of the fiscal year 2024, ending on December 31, 2024. The company’s earnings saw a significant increase of 221% compared to the same period last year, reaching $3.85 million. Despite this positive development, the group remains in a loss-making position for the entire fiscal year 2024.

In terms of earnings per share, the second half of the fiscal year saw a significant rise to 0.79 cents per ordinary share. However, for the full fiscal year 2024, earnings per share were a negative 0.28 cents per share.

The group’s revenue for the second half of the fiscal year also showed a notable improvement, growing by 10.5% year-on-year to reach $41.1 million. This was primarily driven by an increase in rental income from investment properties, hotel operation income, and management fees. For the entire fiscal year 2024, the group’s revenue went up by 15.2% year-on-year, reaching $78.2 million.

One of the main contributors to this growth was higher occupancies in the United Kingdom and an increase in rental rates for the group’s investment properties. Additionally, during the fiscal year 2024, Heeton Holdings disposed of some of its subsidiaries, resulting in a net gain of $3.78million.

The company’s property, plant, and equipment assets amounted to $418.83 million, mainly comprising hotel properties. There was an increase of $16.92 million in these assets during the fiscal year 2024, primarily due to the acquisition of a hotel in Edinburgh, United Kingdom. This was offset by the disposal of hotels in Japan and the United Kingdom, as well as reversal of impairment changes and depreciation charges.

Investing in a condo in Singapore offers an array of advantages, with potential for notable capital appreciation being one of the most notable. Singapore’s strategic position as a leading business hub in the global market, along with its robust economic fundamentals, plays a major role in driving sustained demand for real estate. This has resulted in a steady rise in property prices over the years, particularly for condos in prime locations. Savvy investors who time their entry into the market correctly and hold onto their condo investments for the long term can reap significant profits through capital gains.

In terms of cash flow, the group experienced a decrease of $32.70 million in cash and cash equivalents due to significant inflows and outflows. This included proceeds from the disposal of property, plant, and equipment of $26.43 million and disposal of subsidiaries of $11.37 million. On the other hand, there were outflows such as net repayment of loans from associated and joint venture companies of $24.45 million, additions to property, plant, and equipment of $40.36 million, and restricted cash pledge for bank facilities of $22.98 million.

Given the current economic uncertainty and geopolitical situation under Trump’s administration, Heeton Holdings intends to continue its prudent and steady strategic expansion. The group will also focus on maintaining its high-quality, experiential stays for guests amid challenges such as high operating and labour costs, elevated interest rates, and an uncertain macroeconomic environment in the hospitality industry.

Heeton Holdings will continue to participate in land tenders in the local residential market, often as part of a consortium. The company’s two retail malls are also expected to generate steady and recurring income for its property investment business.

The group has declared a final dividend of 0.5 cents per share for the current financial period. On February 20, shares in Heeton closed 1.818% lower at 27 cents.…

The luxurious and well-known Singaporean businessman and boutique property developer, Que Neo of Euro Properties, is always on the lookout for new residential projects to develop. As a man with a discerning taste, he only wishes to create projects where he would like to reside in himself. Euro Properties’ subsidiary, EG Properties, is currently working on their latest project, the K Suites, which is a 19-unit apartment block located along Lorong K Telok Kurau in the highly coveted East Coast area of District 15. The project is expected to attain its temporary occupation permit (TOP) in the first quarter of 2025.

One of the key selling points of K Suites is its prime location, offering easy access to the beach, East Coast Park, shopping malls, the Central Business District (CBD), and the Changi Airport. Neo emphasizes that with the East Coast Parkway and Pan-Island Expressway, residents can reach the airport in just 10 minutes and downtown in another 10 minutes.

K Suites is also conveniently located near public transportation. The nearest bus stop is less than 50m away and from there, it takes only two stops to get to the nearest MRT stations: Marine Parade on the Thomson-East Coast Line (TEL) and Eunos on the East-West Line (EWL). Additionally, Eunos Station is just one stop away from the Paya Lebar Interchange, which connects to both the EWL and Circle Line. The Bugis Interchange for the EWL and Downtown Line is also just five stops away.

Families with young children will be pleased to know that K Suites is located near popular schools. It is just two doors away from PCF Sparkletots @ Joo Chiat, a highly sought-after preschool. Within a 1km radius, there are also renowned primary schools like Tao Nan School, Haig Girls’ School, and CHIJ (Katong) Primary. For secondary education, there are prestigious schools such as Dunman High School, Tanjong Katong Secondary School, and Tanjong Katong Girls’ School nearby.

Designed by JGP Architecture, K Suites boasts a sleek and modern exterior, thanks to its curtain wall system. The glass facade allows for plenty of natural light and unobstructed views of the surrounding area. The units have regular layouts, with most having a ceiling height of 3.5m to 4.5m. The penthouses, on the other hand, have a 7m ceiling height, making them the most coveted units in the development. Neo notes that there are no bay windows or wasted corridors in the apartments, creating more space and efficiency.

The apartments are fitted with high-end German brand fixtures such as Miele kitchen appliances, Duravit sanitaryware, and Grohe bathroom fittings. Facilities for residents include a swimming pool, Jacuzzi, barbeque pit, lounge area, gym, outdoor fitness area, and playground. The development also boasts a grand arrival and drop-off area, and a large surface car park with 16 spaces and two electric vehicle charging stations.

Since the preview of the freehold project in September 2022, the first phase of 10 units has already been sold. According to Neo, the buyers are mainly Singaporean professionals, such as doctors, lawyers, and corporate executives. K Suites offers a range of unit types, including three-bedroom units ranging from 797 to 872 sq ft, and four-bedroom units ranging from 1,076 to 1,130 sq ft. The penthouses, the largest units in the development, are five-bedroom units ranging from 1,625 to 1,679 sq ft. Only one penthouse is still available, as the other three have already been snapped up by large families looking for a spacious home. The ground-floor units, with a ceiling height of 4.5m and views of the landscaped garden and facilities, are popular among those downsizing from a house to an apartment.

Neo shares that the buyers are mostly upgrading from their current homes or downsizing to a prime freehold property in District 15. As a freehold development in a highly coveted area, K Suites is the most affordable option in the district. With the project’s TOP fast approaching and the current positive market sentiments, Euro Properties is now releasing the remaining units to interested buyers. Three-bedroom units at K Suites are priced from $2.058 million ($2,582 psf), while four-bedroom units start from $2.525 million ($2,347 psf). The sole five-bedroom penthouse is priced at $3.5 million ($2,154 psf).

When contemplating an investment in a condo, it is essential to evaluate its potential rental yield. The rental yield is the yearly rental income as a proportion of the property’s acquisition cost. In Singapore, the rental yields for condos can fluctuate significantly, depending on various factors such as location, property condition, and market demand. Areas with a high demand for rentals, such as those near business districts or educational institutions, often offer more favorable rental yields. To determine the rental potential of a specific condo, conducting thorough market research and seeking advice from real estate agents can be valuable. Singapore Projects are a valuable addition to consider when examining the rental potential of a particular condo.

For those looking to invest, District 15 is a popular area among expatriates due to its convenient location near the beach, East Coast Park, and a wide range of F&B options and shopping malls. K Suites, with its luxurious facilities and prime location, is expected to appeal to this group of tenants. In a study conducted by Huttons Data Analytics, it was found that selected boutique developments in District 15 have seen prices appreciate by over 100% since their launch. Prices at the 127-unit Coralis, for example, have increased by 234.2% since its launch in January 2002. Over the past five years, monthly median rents in boutique condos in Telok Kurau and Joo Chiat have also increased by 76.5%, making them a popular choice among expatriates. With its attractive location, efficient layout, and top-quality materials, K Suites is set to be a highly sought-after residence that offers exclusivity and a tranquil living experience.…

Savills market report: Private housing rents remained flat in 2023, HDB flat rents rose

The rental market for private housing experienced a slight rebound in the last quarter of 2024, with a slight increase of 0.2% over the preceding three months. However, experts predict that rental growth will remain flat this year.According to a report by Savills Singapore, the weak performance of the non-landed private residential market in the first three quarters of 2024 was the main contributing factor to rents falling by 1.7% for the whole of 2024. This is the first full-year decline since the leasing market recorded a 0.5% year-on-year drop in 2020.19,733 leasing transactions were recorded in 4Q2024, a decrease of 24.2% from the previous quarter. Savills attributes this decline to a decrease in net new rental demand, as the number of Employment Pass (EP) and S pass holders fell last year, combined with a seasonal slowdown in rental activity towards the end of the year.Read also: Tourism recovery pushes Orchard Road retail rents up 2.3% year-on-year in 4Q2024: SavillsDespite the decrease in leasing activity, there is still growth in rental demand, according to George Tan, managing director of Livethere Residential at Savills Singapore. He adds that relatively affordable rents can be found in suburban areas, allowing tenants to prioritize lifestyle options such as more spacious units, connectivity to MRT stations, malls, and recreational activities.Rental data compiled by Savills shows that Parc Esta, a 1,399-unit development in District 14, saw the highest number of condo leasing deals in 4Q2024, recording 163 rental transactions at a median rent of $6.84 per square foot (psf) per month.Other developments that saw a high number of rental transactions include Marina One Residences (126 transactions at $6.62 psf per month), The Sail @ Marina Bay (126 transactions at $6.72 psf per month), Normanton Park (120 transactions at $6.26 psf per month), and D’Leedon (107 transactions at $5.43 psf per month).In terms of rental price growth, the Outside Central Region (OCR) was the only region in which average rents declined by 0.8% from the previous quarter. In contrast, rents in the Core Central Region (CCR) and Rest of Central Region (RCR) grew by 0.9% and 0.3%, respectively.Read also: Investment sales volume up 35.4% year-on-year in 2024; may ease in 2025: SavillsThe decline in rent prices in the OCR is likely due to more tenants in those suburban locations opting to move to more central neighbourhoods, driven by relatively more affordable rents. Based on a basket of luxury properties tracked by Savills, the average monthly rent for high-end condos increased by 1.7% from the previous quarter to $5.85 psf.Looking ahead, landlords may face challenges in the rental market as companies continue to reduce headcounts and hire fewer expatriates, says Alan Cheong, executive director of research and consultancy at Savills Singapore. In addition, landlords also face higher property taxes for non-owner-occupied residential properties, as well as increased conservancy charges due to upward inflationary pressures. However, the relatively tight supply of large luxury properties on the rental market may help landlords resist underpriced rental offers, says Cheong. He adds that although rents for non-landed private residential properties have started to rise, challenges in the rental market are expected in 2025.Furthermore, with the widespread adoption of AI, overall manpower requirements for high-tech firms may decrease, leading to a reduction in hiring of white-collar professionals and a smaller pool of expat tenants in Singapore, says Cheong. However, he notes that the saving grace for the rental market is the fewer new completions of private homes expected in 2025, as well as higher property taxes on investment properties, which may discourage landlords from accepting low rental rates. In addition, interest rates will likely remain at current levels for longer, which may also help stabilize mortgage payments.Read also: GLS sites at Holland Plain and River Valley Green (Parcel C) open for application Your browser does not support iframes.

Private housing rentals saw a slight recovery in the final quarter of 2024, with a 0.2% increase in the last three months of the year. However, experts predict that rental growth will remain stagnant in the coming year, according to a recent market report by Savills Singapore.

The poor performance of the non-landed private residential market in the first three quarters of 2024 led to a 1.7% decline in rents for the entire year. This marks the first annual drop since a slight decrease of 0.5% in 2020.

There were 19,733 leasing transactions in the fourth quarter of 2024, a decrease of 24.2% from the previous quarter. Savills attributes this decline to a decrease in new rental demand, as the number of Employment Pass (EP) and S pass holders declined in 2024, along with a usual end-of-year lull in rental activity.

Read also: Tourism recovery pushes Orchard Road retail rents up 2.3% year-on-year in 4Q2024: Savills

Rewritten: Investing in a condominium comes with the added benefit of using its value to secure further investments. This has become a popular choice for many investors who use their condos as collateral to obtain funding for new opportunities, expanding their real estate portfolio. However, it is essential to have a well-planned financial strategy in place and carefully consider the potential effects of market changes before pursuing this route. If you are considering new condo launches, incorporating this option into your investment plan could result in significant advantages.

Despite this decline, there is still some growth in rental demand, according to George Tan, managing director of Livethere Residential at Savills Singapore. He adds that relatively more affordable rents can be found in suburban areas, allowing tenants to prioritize factors like space, proximity to MRT stations, malls, and recreational activities.

Data from Savills shows that Parc Esta, a 1,399-unit development in District 14, had the highest number of condo leasing deals in the fourth quarter of 2024, with 163 rental transactions at a median rent of $6.84 per square foot (psf) per month.

Other developments with a high number of rental transactions include Marina One Residences (126 transactions at $6.62 psf pm), The Sail @ Marina Bay (126 transactions at $6.72 psf pm), Normanton Park (120 transactions at $6.26 psf pm), and D’Leedon (107 transactions at $5.43 psf pm).

In terms of rental price growth, the Outside Central Region (OCR) was the only region to see average rents decline by 0.8% from the previous quarter. In contrast, rents in the Core Central Region (CCR) and Rest of Central Region (RCR) grew by 0.9% and 0.3%, respectively.

Read also: Investment sales volume up 35.4% year-on-year in 2024; may ease in 2025: Savills

The decline in rents in the OCR can be attributed to more tenants in these suburban locations opting to move to more central areas due to relatively lower rental prices. Based on a basket of luxury properties tracked by Savills, the average monthly rent for high-end condos increased by 1.7% from the previous quarter to $5.85 psf.

Looking ahead, landlords may face challenges in the rental market as companies continue to reduce headcounts and hire fewer expatriates, says Alan Cheong, executive director of research and consultancy at Savills Singapore. Additionally, landlords may also face higher property taxes for non-owner-occupied residential properties, as well as increased conservancy charges due to upward inflationary pressures. However, the relatively tight supply of large luxury properties on the rental market may help landlords resist underpriced rental offers, says Cheong. He adds that though rents for non-landed private residential properties have started to rise, challenges in the rental market are expected in 2025.

Moreover, with the widespread adoption of AI, overall manpower requirements for high-tech firms may decrease, leading to a reduction in hiring of white-collar professionals and a smaller pool of expat tenants in Singapore, says Cheong. However, he notes that the saving grace for the rental market is the fewer new completions of private homes expected in 2025, as well as higher property taxes on investment properties, which may discourage landlords from accepting low rental rates. Additionally, with interest rates expected to remain at current levels for longer, mortgage payments are likely to remain stable.

Read also: GLS sites at Holland Plain and River Valley Green (Parcel C) open for application…

CBRE, the leading marketing agent, is proud to present two prime properties in the bustling Hongkong Street. The 27-room Hotel Clover, situated at 7 Hongkong Street, and the commercial building at 36 Hongkong Street, are both up for sale at attractive guide prices of $27 million and $22.6 million respectively.

The six-storey Hotel Clover is a boutique hotel sitting on a 1,701 sq ft plot that is zoned for hotel use, with a 4.2 plot ratio under the latest Master Plan. The property, which has a 99-year leasehold with 89 years remaining, boasts a total floor area of 7,142 sq ft. With a price translating to $3,780 psf on the floor area, this is a rare opportunity to own a prestigious hotel in the heart of Singapore.

Meanwhile, the five-storey commercial building at 36 Hongkong Street occupies a 1,733 sq ft plot, also with a 4.2 plot ratio under the Master Plan. The 99-year leasehold property has a remaining land tenure of 93 years and offers a total floor area of 7,279 sq ft. The guide price of $22.6 million translates to $3,105 psf, making it an attractive option for commercial property investors.

Being a hotel and commercial building, both properties are eligible for purchase by foreigners and companies without having to pay Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) on the transactions.

Strategically located in the vibrant Clarke Quay area, known for its lively dining, entertainment, and fitness options, these properties offer immense potential for rental growth and capital appreciation in the medium to long term. They are also conveniently close to the Clarke Quay MRT Station on the North-East Line.

Additionally, the nearby CQ@Clarke Quay is undergoing a $62 million asset enhancement initiative, while the upcoming completion of two large-scale integrated developments, Canninghill Piers and Union Square, will further enhance the vibrancy of the area.

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Investing in a condominium in Singapore offers various benefits, the most prominent being the potential for capital appreciation. With Singapore’s strategic location as a global business hub and its strong economic fundamentals, the real estate demand remains constant. As a result, property prices in the country have consistently shown an upward trend over the years, especially for condos in prime locations. By investing in Singapore Projects at the right time and holding onto the property for the long term, investors can reap significant capital gains.

Clemence Lee, Executive Director of Capital Markets at CBRE Singapore, comments that these properties have the advantage of having more attractive remaining land tenures compared to other 99-year leasehold properties in the CBD. They also make an excellent investment for owner-occupiers looking for a flagship asset with naming rights for their exclusive operations.

Both properties will be sold through an expression of interest exercise that closes on March 26. Don’t miss this opportunity to own a premium asset in one of Singapore’s prime locations. Contact us for more information or to arrange a viewing.…

Guests at the Property Market Outlook session on Feb 16, were picked up by a shuttle bus at Clementi MRT station.

Experts Debate Impending Market Changes and Budget 2025 in EdgeProp Singapore’s Property Market Outlook Event

Understanding the regulations and restrictions surrounding property ownership in Singapore is essential for international investors. While purchasing condos is relatively straightforward for foreigners, the rules for owning landed properties are more strict. However, foreign buyers must still pay the Additional Buyer’s Stamp Duty (ABSD), currently set at 20%, for their first property purchase. This added cost notwithstanding, the stability and potential for growth in Singapore’s real estate market make it an attractive option for foreign investment. Condos are particularly popular among foreign buyers due to their accessibility and flexibility in ownership.

EdgeProp Singapore organized its annual Property Market Outlook event on Feb 16, discussing the potential impact of new cooling measures, upcoming housing supply, and Budget 2025 on the real estate market. The panel of industry experts, consisting of Alan Cheong, executive director of research and consultancy at Savills Singapore; Wong Xian Yang, head of research, Singapore and Southeast Asia at Cushman & Wakefield; and Song Seng Wun, Singapore economic advisor at CGS International, shared their insights on these important topics. The event was moderated by EdgeProp Singapore CEO Bernard Tong and took place at the sales gallery for Elta, a new 501-unit project jointly developed by MCL Land and CSC Land Group.

During the event, the panelists discussed the possibility of new property cooling measures being implemented by the government, as well as the impact of incoming housing supply from government land sale (GLS) sites and Build-To-Order (BTO) launches. They also debated the potential influence of Budget 2025 on the property market in the coming years.

The government has indicated that it is not yet time to roll back on existing cooling measures and is open to implementing more in the future. This has caused some speculation in the market, as developers sold 1,083 new private residential units (excluding executive condos) in January, a 256% increase compared to the previous year. If new cooling measures are introduced, the panelists believe they will most likely apply uniformly across the residential market and may also target the HDB resale market.

However, Tong pointed out that the government has also planned to inject a significant supply of GLS and BTO units into the market in the next few years to meet housing demand. The 1H2025 GLS programme includes 10 sites on the Confirmed List, which could yield 5,000 new homes, and HDB plans to offer 19,600 BTO flats in 2025.

Tong also noted that under the new BTO classification, newly launched Prime and Plus BTO flats will take about 14 years to enter the resale market, so their impact on prices will not be felt immediately.

The panelists also discussed the potential impact of Budget 2025 on the property market. Song believes that with Singapore’s strong economic recovery since the Covid-19 pandemic-induced recession, the government will have more surpluses to fund handouts and initiatives in the upcoming election year.

The panelists also took questions from the audience, with some participants expressing concerns about the current state of the market, particularly whether it is in a euphoric phase. Cheong believes that as developers strategically time their project launches, the current sense of market exuberance will likely subside. He also noted that several launch-ready projects are in neighborhoods that have not seen a new launch in many years, causing demand to build up over time.

Some attendees also raised questions about the rental market, which has slowed down since its peak two years ago. However, data shows that while the total number of expatriates in Singapore has decreased, the volume of rental transactions has increased in 2020. Cheong believes that this is due to falling rents, which have encouraged some renters to look for their own accommodation rather than sharing a flat. However, layoffs among technology and finance companies this year may moderate rental price growth.

During the event, Tong also conducted a session on EdgeProp’s Master Plan Master Class, covering upcoming transformation plans in Clementi and Jurong East. He noted that the completion of the second phase of the Cross Island Line (CRL) will add a new MRT station (West Coast) and turn the existing Clementi station into an interchange, which historically has a positive impact on surrounding property prices. He also discussed various transformation plans in the area, including the redevelopment of Clementi Stadium and the installation of more than 6.6km of cycling paths, as well as the potential benefits from nearby developments such as the Jurong Lake District and new job opportunities in the surrounding areas.

In conclusion, the panelists are optimistic about the property market in the coming year, with strong buyer confidence for new projects and a potential influx of supply to meet housing demand. However, they also caution that any changes in the market may take time to be felt and advise buyers to carefully consider their options before making a purchase.…