Month: February 2025

A luxurious four-bedroom duplex apartment at the sought-after freehold condo 3 Orchard By-The-Park is currently on the market through an expression of interest (EOI) exercise, with an indicative price of $15.8 million.

According to Huttons Asia, the marketing agent for the property, the spacious unit boasts an expansive 3,800 square feet of living space, translating to an average price of $4,158 per square foot.

The decision to invest in a condo in Singapore has gained traction among both domestic and international investors, thanks to the country’s flourishing economy, unwavering political climate, and exceptional quality of life. With a plethora of opportunities in Singapore’s real estate market, condos are a top choice for their convenience, amenities, and potential for lucrative returns. In this article, we delve into the advantages, key considerations, and necessary steps when investing in a condo in Singapore.

This exclusive unit offers a soaring ceiling height of 4 meters and a private lift, with the added convenience of three bedrooms featuring attached bathrooms. The apartment has undergone a significant renovation within the last three years, with over $700,000 invested in the revamp, according to Huttons.

3 Orchard By-The-Park, which occupies a prime location on Orchard Boulevard and was completed in 2017, is a highly coveted address. The development, designed by renowned Italian architect Antonia Citterio, comprises three 25-storey towers with a total of 77 units. The units range from two- to four-bedrooms, measuring between 1,066 square feet to 3,800 square feet, with penthouses ranging from 6,555 square feet to 6,900 square feet.

The prestigious development is situated near the bustling Orchard Road shopping belt and is in close proximity to several reputable schools including Anglo-Chinese School (Junior), Anglo-Chinese School (Primary), ISS International School (Elementary & Middle school Campus), and Singapore Chinese Girls’ School (Primary). The Orchard Boulevard MRT Station (Thomson-East Coast Line) is also a short distance away.

Recent transactions at 3 Orchard By-The-Park have seen impressive prices (Source: EdgeProp Buddy). The EOI for this unit will close on March 5 at 4pm. For more information on this and other available properties at 3 Orchard By-The-Park, check out EdgeProp Buddy. The website also offers a comparison of new sale and resale condos, rental yield estimates, and a list of other high-end condominiums in District 10.…

According to the latest quarterly research report by Huttons Asia, the shophouse market has seen a relatively muted performance in 2024, with only 84 caveated transactions recorded. This number falls below the average of 200 shophouse deals per year between 1995 and 2023.

When contemplating an investment in a Singapore Condo, it is crucial to also evaluate the potential rental yield. Rental yield is the annual rental income expressed as a percentage of the property’s purchase price. In Singapore, the rental yields for condos can greatly vary depending on factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, tend to offer better rental yields. To gain a comprehensive understanding of a particular condo’s rental potential, conducting thorough market research and consulting with real estate agents can be highly beneficial.

Lee Sze Teck, senior director of data analytics at Huttons Asia, notes that while many buyers did not lodge a caveat, the number of shophouse deals in 2024 is likely the lowest since 1998.

A closer look at the transaction volume and quantum of shophouses in 2024 reveals a total value of $683.6 million, a 38.9% decrease from the $1.1 billion recorded in the previous year. However, Lee points out that there were also substantial deals that were not caveated, such as properties on Amoy Street, Neil Road, North Bridge Road, and Telok Ayer Street, estimated to have been sold for more than $200 million.

The largest shophouse deal in 2024 was the sale of The Rail Mall by Paragon REIT for $78.5 million in June. According to Lee, this is likely the biggest shophouse deal on record, surpassing the previous high of $74.8 million for a row of shophouses on Jalan Sultan in March 2022.

The Rail Mall shophouses, valued at $62 million in December 2023, resulted in an estimated gain of $16.5 million for the seller. However, most shophouse transactions in 2024 were for smaller quantums, with over half of the recorded deals ranging from $5 million to $15 million.

Furthermore, nearly half of the shophouse transactions last year took place in District 8, which Lee attributes to its attractive city-fringe location and lower prices compared to Districts 1 and 2.

On the other hand, shophouse rents across the island saw a moderation for the second consecutive quarter, dropping 2.6% quarter-on-quarter to $6.47 psf per month in 4Q2024. Nevertheless, for the entire year of 2024, shophouse rents saw a 1.7% increase.

Overall, while the shophouse market remained subdued in 2024, there were some significant deals that contributed to the total transaction volume and quantum. This, combined with the attractive location and relatively lower prices in District 8, may continue to attract buyers to the shophouse market in the future.…

CBRE’s Singapore Market Outlook 2025 report, released on January 23, predicts divergent outcomes across the real estate market in the next 12 months due to an uncertain macroeconomic outlook.

On one hand, easing inflation and interest rates could provide some relief for the property market in 2025. However, Moray Armstrong, managing director of advisory services at CBRE, warns that expectations of slowing economic growth could negatively impact property demand.

The Ministry of Trade and Industry projects that Singapore’s GDP growth will be between 1% and 3% in 2025, lower than the 4% growth recorded in 2024 according to advance estimates released in January.

Other factors that could potentially impact the market in the near term include ongoing geopolitical tensions, a new US administration with a nationalistic economic agenda, and the release of the URA Master Plan 2025 in the middle of the year. Despite these mixed signals, opportunities still exist in the real estate market for those who can take advantage of emerging trends.

Tricia Song, CBRE’s head of research for Singapore and Southeast Asia, shares a similar view, stating that the limited new supply and stable demand in the property market will continue to support it. She predicts that despite uncertainties, the Singapore real estate market will remain stable and resilient, making it attractive to investors from around the world.

Developer sales volume surged threefold to 3,511 units last quarter, rebounding from record lows in the first nine months of 2024, according to URA data. Prices also rose 2.3% quarter-on-quarter, the highest quarterly growth in 2024. However, CBRE believes that this rebound is unlikely to prompt the government to introduce fresh cooling measures. They only see this happening if prices rise sharply in the coming quarters.

With improved buying sentiment, developers are expected to continue launching new projects. CBRE projects that between 12,000 to 14,000 new units will be launched this year, almost double the 6,647 units launched in 2024. As a result, the firm predicts that between 7,000 to 8,000 new homes could be sold in 2025, an increase from 2024’s 6,469 units. This higher volume is expected to support price growth between 3% and 6% this year, on top of the 3.9% growth in 2024. At the same time, CBRE anticipates rental rates to grow between 1% and 3%.

The office market saw a muted 2024, with global economic uncertainties, high fit-out costs, and hybrid work arrangements slowing leasing volumes. Core CBD (Grade A) rents grew by just 0.4% year-on-year last year, compared to 1.7% in 2023.

With the expected economic slowdown in 2025, office leasing momentum is projected to remain subdued as uncertainties dampen expansionary demand. However, limited new supply in the Core CBD (Grade A) office market over the next three years is forecasted to keep vacancy rates low. Only 0.58 million sq ft of new office space is expected to be completed annually between 2025 and 2027, less than half of the 10-year average of 1.28 million sq ft. As a result, CBRE predicts that Core CBD (Grade A) rental growth will be around 2% in 2025, in line with GDP projections.

Limited supply is also expected to support rents in the retail property market. CBRE projects that the supply of new retail space will drop to 0.5 million sq ft in 2025, which is 40.4% lower than in 2024 and remains below the 10-year historical average of 0.91 million sq ft. The firm adds that leasing sentiment for retail properties remains positive, supported by inbound tourism and a robust pipeline of entertainment and events. CBRE anticipates average retail prime rents to grow by 2% to 3% in 2025, recovering to pre-pandemic levels.

Prime logistics rents are expected to stay relatively flat in 2025, according to CBRE. Expansionary demand by occupiers in the industrial sector was subdued in 2024 due to cost pressures and supply chain disruptions caused by the Red Sea crisis. As a result, rents for prime logistics properties only rose by 1.1% to $1.87 psf per month in 2024. However, despite a bumper supply of almost 5 million sq ft of new warehouse space expected to be completed this year, at least 60% of it has already been pre-committed. CBRE believes this will alleviate downward pressure on occupancy rates and predicts that prime logistics rents will remain relatively flat in 2025.

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Purchasing a condominium in Singapore presents numerous benefits, with one of the prominent ones being the potential for capital appreciation. As a renowned global business hub, Singapore holds a strategic location and boasts robust economic foundations that result in a continuous demand for real estate. Throughout the years, property prices in Singapore have consistently shown an upward trend, with condos in prime locations experiencing significant appreciation. With the addition of new condo launches, investors have an opportunity to acquire properties at the right time and reap substantial capital gains in the long run.

In the capital markets, CBRE believes that real estate investment volume in Singapore will continue to grow in 2025, albeit at a slower pace. In 2024, real estate investment volumes increased by 28% year-on-year to $28.62 billion, reversing the 30.3% decline recorded in the previous year. Interest rate cuts had bolstered investor sentiment and appetite, which is expected to continue into 2025, according to CBRE’s latest Asia Pacific Investor Intentions Survey. The majority of investors transacting in Singapore real estate expect to purchase the same or more in 2025 compared to 2024.

Although there are ongoing economic and geopolitical uncertainties, CBRE anticipates that investors will be selective in the near term, choosing to allocate capital to specific sectors or strategies with a more favourable outlook. The firm expects investment volumes to grow by 10% year-on-year in 2025, barring any macroeconomic shocks.

CBRE’s survey also found that industrial and logistics properties remained the most preferred among investors, followed by residential assets and office properties.…

At nearby Raffles Place, these condos include One Raffles Place Residences ($2,601 psf), The Clift ($2,483 psf) and Altez ($2,203 psf).

One of the biggest profit-making resales in the period of January 14 to 28 was recorded at Palm Spring, where a three-bedroom unit was sold for $4.4 million. According to the lodged caveats, the unit, which spans 1,884 sq ft and is situated on the fourth floor, was sold on January 20 at a rate of $2,336 per square foot. This staggering increase in profit can be attributed to the fact that the unit was originally purchased for just $1.21 million back in August 2005, at a rate of $642 per square foot. This means that the seller made a profit of $3.19 million, which is a whopping 264% gain, translating to an annualised profit of 6.8% over nearly 20 years.

This sale also makes it the most profitable resale transaction at Palm Spring to date, surpassing the previous record of $2.56 million (185%) achieved when a unit of 1,970 sq ft on the first floor was sold for $3.94 million ($2,000 psf) in April 2023. The unit was originally purchased for $1.38 million ($701 psf) in January 2003.AdvertisementAdvertisement

According to a compilation of resale transactions by EdgeProp Singapore, the prices at Palm Spring have consistently been on the rise over the past 20 years. In January this year, the average transacted price stood at $2,342 per square foot, a significant increase from $1,439 per square foot recorded in January 2015. Back in January 2005, the average price was a mere $973 per square foot.A three-bedroom unit at Palm Spring was sold for $4.4 million ($2,336 psf) on Jan 20. (Picture: Samuel Isaac Chua)

Last year saw the sale of two units at Palm Spring. In September, a 947 sq ft unit changed hands for $2.19 million ($2,312 psf), yielding a profit of $990,000 for the seller. In October, a 1,496 sq ft unit was sold for $3.36 million ($2,246 psf), resulting in a profit of $2.24 million.

Palm Spring is a freehold condominium located on Ewe Boon Road in prime District 10. Completed in 1997, the 167-unit development is 28 years old. The condo is conveniently situated near Stevens MRT Interchange, which serves the Downtown (DTL) and Thomson-East Coast Lines, as well as Newton MRT Interchange, which services the North-South Line and DTL.

Meanwhile, the sale of a four-bedroom unit at Orchard Bel Air was the second most profitable resale transaction during the same period, raking in a profit of $3 million (182%) when it was sold on January 15.

The 3,229 sq ft unit on the 12th floor was sold for $4.65 million ($1,440 psf) on January 15, having been bought for $1.65 million ($511 psf) back in May 2001. This translates to an annualised profit of 4.5% over nearly 24 years.

The sale of a 3,229 sq ft unit at Orchard Bel Air raked in a profit of $3 million when it was sold on Jan 15. (Picture: Samuel Isaac Chua/)

The biggest profit achieved at Orchard Bel Air was from the sale of a 6,512 sq ft penthouse unit on the 25th floor, which fetched $8.3 million ($1,275 psf) in January 2013. The unit was purchased for $3.83 million ($588 psf) in March 2006.Advertisement

The only other 99-year leasehold condo in the area is Cuscaden Reserve, a 192-unit luxury condo completed in 2021. Transaction data shows that the average price at Cuscaden Reserve stands at about $3,043 per square foot.

Orchard Bel Air is a 99-year leasehold condo located on Orchard Boulevard in prime District 10. Completed in 1984, the condo has about 54 years remaining on its tenure. Next to Orchard Bel Air is a government land sale (GLS) site on Orchard Boulevard, which was awarded to a joint venture between UOL and SingLand last February. The consortium submitted the winning bid of $428.28 million, translating to a land rate of $1,617 per square foot per plot ratio.

On the other hand, the most unprofitable transaction during the period was recorded at Marina Bay Suites, where the seller of a 1,625 sq ft unit on the 58th floor suffered a loss of $1.15 million (27%) when it was sold on January 24.

The unit changed hands for $3.1 million ($1,907 psf) when it was recently sold, having previously been sold for $4.25 million ($2,614 psf) in May 2012. As a result, the seller incurred an annualised loss of 27% over close to 13 years.

The seller of a 1,625 sq ft unit at Marina Bay Suites incurred a loss of $1.15 mil when it was sold on Jan 24. (Picture: Samuel Isaac Chua/)

As a highly sought-after housing option, the demand for condos in Singapore remains consistently high. This can be largely attributed to the limited availability of land in the small island nation, which is facing rapid population growth. In response, the government has implemented strict land use policies, creating a competitive real estate market where property prices continue to rise. As a result, investing in real estate, particularly condos, has become an attractive opportunity for potential buyers, with the added promise of capital appreciation. With new and upcoming Singapore projects, the demand for condos is expected to remain strong in the foreseeable future.

This is just the latest in a series of unprofitable transactions at Marina Bay Suites, with the past nine months seeing a total of 14 consecutive loss-making deals. The losses suffered in this period range from $40,000 to $2.5 million.

Marina Bay Suites is a 99-year leasehold condo that forms part of the six towers that make up the Marina Bay Financial Centre mixed-use development located at Central Boulevard and Marina Boulevard. The 221-unit Marina Bay Suites consists of a 66-storey residential tower, with a mix of three- and four-bedroom units.Advertisement

A compilation of caveats by EdgeProp Singapore indicates that the average selling price at Marina Bay Suites has fallen from $2,502 per square foot in January 2015 to $1,921 per square foot as of January this year. Other nearby 99-year leasehold condos command higher resale prices, such as The Sail @ Marina Bay ($2,047 psf), Marina Bay Residences ($2,242 psf), Marina One ($2,103 psf) and V on Shenton ($2,027 psf). Other nearby condos at Raffles Place include One Raffles Place Residences ($2,601 psf), The Clift ($2,483 psf), and Altez ($2,203 psf).…

When considering investing in Singapore, it’s crucial for international investors to become familiar with the various regulations surrounding property ownership. While there are stricter restrictions for owning landed properties, foreigners are generally allowed to purchase condominiums with fewer limitations. However, it’s essential to keep in mind that foreign buyers are required to pay the Additional Buyer’s Stamp Duty (ABSD), which is currently set at 20% for their first property purchase. Despite this added cost, the steady stability and potential growth of the Singapore real estate market continue to pique the interest of foreign investors. Additionally, with the continuous launch of new condo projects, such as the New Condo Launches, the market is consistently expanding and presents an attractive and lucrative opportunity for international buyers.

Three-bedroom unit at Watertown, part of the Waterway Point integrated development, is going up for auction on Feb 26 with a guide price of $2.4 million. The unit, which was previously listed for sale at the same price, is located on the 13th floor and spans 1,281 sq ft, translating to a price per square foot of $1,874.The unit was purchased by the current owners in October 2013 from the developers for $1.8 million, equating to a price per square foot of $1,281. It features a combined living and dining area, an open-concept kitchen, a utility room and toilet, and a south-facing balcony overlooking one of the condo’s 20 swimming pools. Additionally, there is an ensuite master bedroom, two additional bedrooms, and a common bathroom.According to Eric Liew, manager of auctions and sales at SRI, larger units at Watertown are in higher demand and can fetch a higher price per square foot. Of the 41 resale transactions at Watertown last year, 10 involved larger units with three or more bedrooms, which were sold at an average price of $1,854 psf. This is approximately 9% higher than the condo’s overall average transacted price for the year. Liew attributes this to interest from HDB upgraders searching for a good deal and those planning to live in the unit as their primary residence due to its proximity to Punggol MRT Station.Watertown, completed in 2017, is a 992-unit condo comprised of 11 residential towers above the six-storey Waterway Point shopping mall. Its units range from 533 to 1,582 sq ft and consist of one- to four-bedroom options. Of the 41 resale transactions at Watertown last year, 10 involved larger units with three or more bedrooms, which were sold at an average price of $1,854 psf. This is approximately 9% higher than the condo’s overall average transacted price for the year.Situated at Punggol’s North East Line, Waterway Point is also connected to the Punggol LRT Station. Additionally, there are several primary schools in the area, making it a family-friendly neighbourhood. With its attractive location and integrated development with a shopping mall, Watertown is a highly sought-after residential option for those looking to live near Punggol MRT Station.…

When it comes to real estate investments, location plays a crucial role, especially in Singapore. Condos located in central areas or in close proximity to important amenities like schools, shopping centers, and public transport hubs have a higher tendency to appreciate in value. The condos in Orchard Road, Marina Bay, and the Central Business District (CBD) are prime examples of such locations, where property values have consistently shown growth. Moreover, families are drawn to these areas due to their condos’ close proximity to reputable schools and educational institutions, making them even more desirable and increasing their investment potential.

The CBDI and SDI schemes, introduced by the government in November 2019, have been extended for another five years. At the Real Estate Developers’ Association of Singapore (Redas) annual Spring Festival lunch on Feb 7, Desmond Lee, Minister of National Development (MND), announced the decision.

The CBDI scheme aims to encourage the conversion of older office buildings in certain CBD areas, such as Tanjong Pagar, Robinson Road, and Shenton Way, into mixed-use developments. This is intended to bring more homes, boost the live-in population in the CBD, and introduce more variety in the traditionally commercial-centric area.

The SDI, on the other hand, was introduced to promote the redevelopment of older developments in strategic areas like Orchard Road, the CBD, and Marina Centre, in order to stimulate transformative changes in the surrounding urban environment.

Based on information from the Urban Redevelopment Authority (URA), 14 out of 17 CBDI proposals and seven out of 12 SDI proposals submitted have received in-principle approval from the government. Among these, four CBDI projects in the Anson-Tanjong Pagar area are currently under construction. These include Newport Plaza, a mixed-use development on 80 Anson Road, which consists of the 246-unit Newport Residences and 198 serviced apartment units. Another project, The Skywaters Residences, will have 190 luxury residential units as part of a larger mixed-use development on 8 Shenton Way. Other CBD projects include two commercial developments on 15 Hoe Chiang Road and 51 Anson Road.

Minister Lee has announced that the five-year extension of the CBDI and SDI programs will come with improvements to both schemes. The CBDI will now cover commercial developments in Anson and Cecil, giving developers and property owners the option to maintain their commercial zoning (with 40% non-commercial use) when redeveloping buildings in these areas, as long as long-stay serviced apartment units are included.

According to the URA, CBDI applicants who wish to redevelop in Anson and Cecil must provide a minimum of 200 residential units or allocate the entire non-commercial floor area for long-stay serviced apartments, whichever is lower. Previously, office buildings redeveloped under the CBDI were allowed to keep their existing commercial zoning as long as 40% of the new floor area was used for non-commercial purposes.

Marcus Chu, CEO of ERA Singapore, says, “By enabling the continual renewal of the many aging buildings in the city centre and with the injection of more residential units, these incentives aim to make the CBD a place to work, live, and play.”

Furthermore, the revised CBDI and SDI schemes will include new sustainability requirements, and all new applications must include a sustainability statement assessing the possibility of retrofitting part or all of the current building.

“While we support revitalisation and rejuvenation through redevelopment, what we do not want is wasteful demolition and excessive rebuilding, especially if the buildings are relatively young, or still in good shape,” says Lee.

He also adds that several projects undergoing redevelopment under the CBDI or SDI schemes have already exceeded the compulsory sustainability requirements. For instance, Union Square, a mixed-use development on Havelock Road, is integrating a district cooling system.

Looking for new launch projects? Check out Skywaters Residences, one of the latest listings.

In conclusion, the government’s decision to extend the CBDI and SDI schemes for another five years is aimed at rejuvenating and revitalising the city centre through the redevelopment of aging buildings, while promoting sustainability and injecting more homes into the CBD.…

Perennial Holdings and Far East Organization have just announced their plans for the highly anticipated Aurea, a luxurious apartment tower that is part of the Golden Mile Singapore mixed-use development on Beach Road. The tower, designed by DP Architects, will have 188 units spread across 45 storeys and will occupy a site area of 144,908 sq ft. One of the standout features of this development is the link bridge that connects it to The Golden Mile, a commercial building that houses a mix of retail spaces, medical suites, and offices.

What makes The Golden Mile even more remarkable is the fact that it is the former Golden Mile Complex, which has been carefully conserved for its architectural heritage. In fact, it is the first collective sale and conservation of a building in Singapore. Back in May 2022, Perennial Holdings and Far East Organization jointly acquired the building en bloc for a whopping $700 million.

Not surprisingly, Aurea and The Golden Mile are both located in prime District 7, which is a part of the Downtown Core and the Core Central Region (CCR). Shaw Lay See, the Chief Operating Officer of Far East Organization’s Sales & Leasing group is certain that Aurea’s prime location on Beach Road will attract a lot of interest from discerning individuals and families who value the exclusivity of living in the Downtown Core.

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Investing in a condo has many advantages, including the opportunity to leverage its value for future investments. Numerous investors utilize their condos as security to secure additional financing for new investments, thereby increasing their real estate portfolio. While this approach can potentially increase returns, it is important to have a solid financial plan and carefully consider the potential effects of market fluctuations. For those interested in Singapore Condos, this can be a valuable strategy to consider.

For those eagerly waiting to get a glimpse of Aurea, the appointment-only preview is set to begin on February 22, and the official launch is scheduled for March 8. The apartments will be priced at a starting rate of $2,750 psf. The luxurious two-bedroom apartments, spanning 646 sq ft, will start at $1.92 million ($2,972 psf).

The apartments in Aurea boast a variety of unit types. The development features 112 two- and three-bedroom apartments, ranging from 635 sq ft to 1,001 sq ft. On top of that, there are 56 four-bedroom units, spanning from 1,442 sq ft to 1,798 sq ft, and 18 five-bedroom units of 2,863 sq ft to 3,251 sq ft. If that’s not enough, there are also two ultra-exclusive penthouses, one with six bedrooms spread over 5,608 sq ft and another triplex with six bedrooms and a whopping 8,816 sq ft.

Moreover, all units with four bedrooms or more come with private lift access, and the triplex penthouse also boasts a private pool. As Marcus Chu, the CEO of ERA Singapore puts it, these larger penthouses and four-bedders are an excellent fit for the affluent lifestyles of homebuyers in the CCR.

If you’re not in the market for a big unit with four bedrooms or more, don’t worry because there are still plenty of options for you. In fact, 60% of the apartments in Aurea are two- and three-bedroom units, which are expected to appeal to both homebuyers and investors, according to Chu.

Residents at Aurea will be able to enjoy a wide range of amenities, including two infinity pools, a gymnasium, a bouldering wall, spa facilities, an indoor lounge, and multiple dining pavilions to entertain guests. The sky terraces on levels 17 and 33 offer breathtaking views of the CBD skyline, Marina Bay, and the Kallang waterfront. Ken Low, the Managing Partner at SRI, believes that today’s homebuyers are looking for more than just a great location, and Aurea delivers on all fronts.

If you’re wondering what to expect at The Golden Mile, there’s a lot in store for you. The building features 156 strata office units and 19 medical suites that were launched for sale in December 2024. The joint-venture partners, Perennial and Far East, plan to retain ownership of the two-story retail atrium and curate a mix of tenants for the commercial spaces.

Ismail Gafoor, the CEO of PropNex, points out that the former Golden Mile Complex is an iconic building, and the commercial spaces, particularly the office spaces, have great potential, which makes it an attractive proposition for buyers. He further adds that buyers today prioritize quality projects that are located near MRT stations and offer easy access to essential amenities. With an overhead bridge connecting The Golden Mile to the Nicoll Highway MRT Station on the Circle Line, the location of this development is hard to beat.

Apart from the MRT, residents at Golden Mile Singapore will have easy access to major roadways, such as Nicoll Highway, East Coast Parkway (ECP), and Kallang-Paya Lebar Expressway (KPE). Moreover, the development is just 1km from the Kallang Alive Precinct, the Bras Basah-Bugis district, and a short 10-minute drive from the CBD.

The last condo to be launched in this neighborhood was the highly successful Midtown Modern, which featured 558 units and was entirely sold out by the end of 2021 at an average price of $2,825 psf. The development is expected to obtain its TOP sometime this year. Prior to that, The M, which had 522 units, was launched in 2020, and all of them were sold out by the time the development was completed in March 2024. Lastly, the 219-unit Midtown Bay at Guoco Midtown was completed in 2021, and as of February 5, 63% of its units have been taken up at an average price of $3,090 psf.

Given its prime location, luxurious residences, and the preservation of Singapore’s architectural heritage at The Golden Mile, PropNex’s CEO Ismail Gafoor believes that the prices of the apartments at Aurea could easily surpass $3,000 psf. According to him, as most of the units at previous launches in the district have been sold, there is bound to be pent-up demand for new homes in the area, and Aurea will attract significant interest from homebuyers and investors alike.

Aurea is expected to be completed in the second quarter of 2029. To stay updated with the latest developments, you can check out the latest listings for Aurea properties. If you’re interested in any other property in Singapore, simply ask Buddy!…

Perennial Holdings and Far East Organization are set to embark on a new luxury residential project called Aurea, as part of the Golden Mile Singapore mixed-use development. The 45-storey tower, designed by DP Architects, will feature 188 units and occupy a site area of 144,908 sq ft. Residents will also have access to the neighbouring The Golden Mile commercial building, which offers a mix of retail space, medical suites, and offices.

Located along Beach Road, Aurea will be situated in prime District 7 within the Downtown Core, making it part of the Core Central Region (CCR). According to Shaw Lay See, chief operating officer of Far East Organization’s sales & leasing group, the project is expected to attract interest from individuals and families who value the exclusivity of a prime Downtown Core address.

The exclusive preview of Aurea will start on Feb 22, with the official launch taking place on Mar 8. Prices for the apartments will start from $2,750 per square foot. Two-bedroom units will start from $1.92 million ($2,972 psf).

Aurea’s apartments will consist of a variety of unit types. The development will offer 112 two- and three-bedroom units ranging from 635 sq ft to 1,001 sq ft. There will also be 56 four-bedroom units ranging from 1,442 sq ft to 1,798 sq ft, as well as 18 five-bedroom units spanning 2,863 sq ft to 3,251 sq ft. In addition, there will be two exclusive penthouses, including a six-bedroom duplex of 5,608 sq ft and a six-bedroom triplex of 8,816 sq ft. Larger units and penthouses will also feature private lift access, with the triplex penthouse boasting a private pool.

“We believe that these larger units and penthouses will be highly sought after by affluent homebuyers in the CCR,” says Marcus Chu, CEO of ERA Singapore.

Meanwhile, 60% of the units at Aurea will consist of two- and three-bedroom apartments, which are expected to appeal to both investors and homebuyers, according to Chu.

The development will offer a range of facilities for residents, including two infinity pools on levels three and 33, a gymnasium, a bouldering wall, spa facilities, an indoor lounge, and multiple dining pavilions. The sky terraces on levels 17 and 33 will offer stunning views of the CBD skyline, Marina Bay, and the Kallang waterfront.

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Singapore has become a popular destination for condo investments due to its limited land availability. Being a small island with a rapidly increasing population, Singapore has implemented strict land-use policies, resulting in a highly competitive real estate market. As a result, property prices are continuously on the rise. With the scarcity of land for development, owning a condo in Singapore has become a lucrative opportunity for capital appreciation. This is why investing in a Singapore Condo is a wise choice for those looking to enter the real estate market.

“Today’s homebuyers are looking for more than just a great location,” says Ken Low, managing partner at SRI. “They want a home that enhances their daily lives – one that is easy to get around, thoughtfully designed, and offers inspiring facilities and spaces. Aurea ticks all these boxes.”

The commercial component of Golden Mile Singapore, consisting of 156 strata office units and 19 medical suites, was launched for sale in December 2024. The joint venture partners, Perennial and Far East Organization, intend to retain ownership of the two-storey retail atrium to manage the tenant mix.

“The former Golden Mile Complex is an iconic structure, and the potential of its commercial and office space may attract buyers,” says PropNex CEO Ismail Gafoor. He adds that buyers today prioritize quality projects near MRT stations and convenient access to essential amenities. The development is just a short distance from the Nicoll Highway MRT Station on the Circle Line, with an existing overhead bridge connecting The Golden Mile to the station.

Golden Mile Singapore is also conveniently located near major roadways such as Nicoll Highway, East Coast Parkway (ECP), and Kallang-Paya Lebar Expressway (KPE). In addition, it’s only 1km away from the Kallang Alive Precinct, the Bras Basah-Bugis district, and a 10-minute drive from the CBD.

The last launch in the Beach Road neighbourhood of District 7 was the 558-unit Midtown Modern, which is set to be completed this year. All units at Midtown Modern have been sold as of December 2024, at an average price of about $2,825 psf. Prior to that, The M, a neighbouring 522-unit development, was launched in 2020 and sold out at an average price of $2,528 psf. The project was completed in March 2024. In addition, the 219-unit Midtown Bay at Guoco Midtown was completed in 2024, with about 63% of the units taken up as of Feb 5, at an average price of $3,090 psf.

Given its prime location, luxurious residences, and the conservation of Golden Mile’s architectural heritage, PropNex CEO Gafoor estimates that the prices of units at Aurea could surpass $3,000 psf. “As most of the units at past launches in the district have been sold, we believe Aurea may enjoy some pent-up demand for new homes in the area and could attract healthy interest among prospective homebuyers and investors,” he adds.

Aurea is expected to be completed in 2Q2029, and interested buyers can check out the latest property listings for the development.…

MCL Land and CSC Land Group announce the upcoming launch of their new residential development, Elta, located in Clementi. The 501-unit condominium will be open for preview on Feb 7, with sales to officially begin on Feb 22.Situated on a 99-year leasehold land spanning 144,788 sq ft, Elta consists of two 39-storey residential buildings along Clementi Avenue 1. Units available at the development range from one-bedroom-plus-study units to five-bedroom units, with sizes ranging from 506 sq ft to 1,776 sq ft. The developers have stated that Elta will be built in accordance with the URA’s harmonisation guidelines.Potential buyers can expect indicative prices for the units to start from $1.158 million ($2,289 psf) for one-bedroom-plus-study units, $1.388 million ($2,261 psf) for two-bedroom units, and $2.198 million ($2,374 psf) for three-bedroom units. Four- and five-bedroom units are priced at $2.798 million ($2,363 psf) and $3.888 million ($$2,189 psf) respectively.The showflat located along Prince Charles Crescent will showcase three different layouts: a two-bedroom plus study that can be transformed into a compact three-bedroom, a four-bedroom dual-key unit, and a five-bedroom unit suitable for multi-generational living.Elta boasts a convenient location within walking distance to Clementi MRT Station on the East-West Line, as well as various dining and shopping options such as The Clementi Mall, 321 Clementi and Grantral Mall. Nearby educational institutions include Clementi Primary School, Pei Tong Primary School, Nan Hua Primary and High School, Anglo-Chinese School (Independent) and NUS High School of Math and Science.MCL Land CEO Lee Tong Voon says, “Elta has been designed to offer elevated living, with its high-rise towers strategically positioned to provide stunning views of the city, Pandan Reservoir, and the sea.”Meanwhile, CSC Land Group Chairman Qian Liang Zhong adds, “Clementi is a dynamic and popular town that seamlessly combines traditional shops with modern amenities for the convenience of its community.”The development will feature 50 facilities spread across five zones, including a 50-metre lap pool, gymnasium, tennis court, and gardening corner. Elta is expected to obtain its temporary occupation permit in 2028. Interested buyers can check out the latest listings for Elta on various property sites.

Investing in real estate requires careful consideration of various factors, with location being a key aspect to consider. This is particularly important in Singapore, where the location of a condo can greatly impact its value. Condos situated in central areas or in close proximity to essential amenities, such as schools, shopping malls, and public transportation hubs, have a higher potential for appreciation in value. Prime locations in Singapore, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown impressive growth in property values. Additionally, being located near good schools and educational institutions further adds to the desirability of condos in these areas, making them a highly sought-after investment option for families. To maximize your investment potential in Singapore, it is crucial to choose a Singapore Condo that is strategically located in a prime area.…

– one at Gul Circle and one at Jalan PapanKnight Frank Singapore is marketing a high-specification warehouse and factory in Gul Circle for sale through an expression of interest. The guide price for the property is $42 million and it is exclusively marketed by Knight Frank Singapore. The property comprises a five-storey single-user factory and warehouse, with a mezzanine, spanning a total of approximately 245,955 sq ft. The 105,648 sq ft site has a remaining lease of 15 years and 11 months, as of February 1, and is zoned for Business 2 under the URA Master Plan 2019. According to Knight Frank Singapore, the property was designed with modern industrial needs in mind, featuring high ceilings, cold rooms, and heavy floor loading capabilities. It also includes nine 40-footer loading and unloading bays and four cargo and service elevators. Located near major expressways and the Joo Koon MRT station, this property offers convenient accessibility. The expression of interest exercise is set to close on March 18 at 3 PM.

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When it comes to investing in Singapore, it is crucial for foreign investors to have a good grasp of the regulations and limitations surrounding property ownership. While purchasing condominiums is generally less restricted for non-residents, owning landed properties entails stricter rules. Additionally, foreign buyers must be aware of the Additional Buyer’s Stamp Duty (ABSD), which is currently set at 20% for their initial property purchase. Nevertheless, the steady growth and potential for development in the Singapore real estate market continue to draw foreign investment, making it a sought-after location for projects such as Singapore Projects.…