Condo Siteismi

Securing financing is a crucial consideration for anyone looking to invest in a condo. Thankfully, Singapore offers a variety of mortgage choices, but it is imperative to keep in mind the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan a borrower can take, taking into account their income and current debt obligations. To navigate this complex system, investors can seek guidance from financial advisors or mortgage brokers. By understanding the TDSR and getting professional help, investors can make wise decisions about their financing and avoid taking on too much debt. Plus, with the exciting New Condo Launches, there are even more options for potential investors to explore.

A three-storey terrace factory at Midview City has recently been put up for sale through the exclusive marketing services of Colliers International at a guide price of $6.2 million or $688 per square foot. The property, which comprises of a basement and roof terrace, is strategically located along Sin Ming Lane in the bustling area of Sin Ming Industrial Estate.AdvertisementAdvertisementWith a strata area of approximately 9,009 square feet, the factory is zoned as a “Business 1” site in the URA Masterplan 2019. According to Colliers International, the property is currently fully-leased with a 60-year leasehold and has been approved for use as a childcare centre which is currently tenanted by Star Learner preschool and childcare centre.Read also: Five industrial units in Kaki Bukit going for $6.4 milThe property will be sold with the existing preschool operator still in place, making it a rare opportunity for investors, according to Raphael Lee, director of industrial services at Colliers. Moreover, the location of the property is highly desirable as it is within walking distance to Bright Hill MRT Station on the Thomson-East Coast Line and is easily accessible from the Bishan and Upper Thomson residential areas. The property has two entrances – one via Sin Ming Lane and the other through Bright Hill Drive.Source: EdgeProp LandlensGiven that it is a Business 1 light-industrial property, it is not subject to Additional Buyer’s Stamp Duty (ABSD) and can be purchased by foreigners. The expression of interest (EOI) exercise for the property will close on April 29 at 3pm. Buddy contains ads for commercial and industrial properties, so you can browse and find the ideal property for your business. Use Buddy to compare price trends and view past transactions for industrial properties to make an informed decision. Start your search on Buddy today for your next industrial property investment.…

BlackRock Sees High Liquidity in Asia Pacific Real Estate Markets

According to Hamish MacDonald, head and chief investment officer of APAC Real Estate at BlackRock, investors are showing strong interest in deploying capital into Asia Pacific real estate markets with high levels of liquidity. This trend is likely to benefit property sectors such as accommodation, logistics, and alternative assets in the upcoming year.

MacDonald further explains that countries such as Australia, Japan, Singapore, and Auckland in New Zealand are expected to have ample liquidity this year, making them attractive targets for BlackRock. The company’s focus will specifically be on these countries and property markets.

Compared to the previous years, investor sentiment is expected to be more bullish in 2021, with institutional investors initiating discussions on investing and recycling capital in selective Asia Pacific real estate markets.

In Singapore, BlackRock has focused on acquiring serviced apartment properties, teaming up with YTL Corp to purchase Citadines Raffles Place for approximately $290 million in October 2020. In February 2024, the company partnered with Hong Kong-based operator Weave Living to acquire Citadines Mount Sophia for $148 million. The Weave Living-operated property, now known as Weave Suites – Hillside, reopened this week with 175 rooms.

MacDonald explains that these acquisitions reflect BlackRock’s belief in the high demand for serviced apartments in Singapore despite a lack of new supply. The company’s strategy is not to build a portfolio of assets but to target individual deals that can add value through refurbishment and collaboration with a partner.

Singapore’s strong economy, supported by a steady influx of capital and skilled labor, makes it an attractive market for real estate investment, according to MacDonald. He adds that BlackRock remains optimistic about opportunities in the country.

Investing in a condo requires careful consideration of financing options. In Singapore, there are various mortgage choices available, but it is crucial to understand the Total Debt Servicing Ratio (TDSR) framework. This framework restricts the amount of loan a borrower can take based on their income and current debt commitments. To avoid over-extending oneself, it is essential to comprehend the TDSR and seek guidance from financial experts or mortgage brokers when exploring Singapore Condo investments.

Japan is another country that is likely to see increased interest from real estate investors this year, according to MacDonald. He explains that the country’s strong economy, increasing wages, and corporate reforms are contributing to its growth. Furthermore, the combination of a rise in wages and construction costs has resulted in a significant rental increase in the Japanese residential market. As such, BlackRock is expecting a 7% to 8% increase in residential rents across major cities such as Tokyo and Osaka.

Daigo Hirai, head of Japan real estate at BlackRock APAC, explains that the company plans to partner with an experienced accommodation operator to manage a hybrid residential investment strategy that caters to both inbound tourist accommodation needs and domestic rental demand. This will allow BlackRock to deepen its investment presence in tourist-driven cities such as Kyoto and Fukuoka.

Hirai adds that the company’s focus will primarily be on smaller developments with up to 50 units, located close to train stations in residential-commercial neighborhoods. BlackRock’s target acquisition price range will be between JPY1 billion ($8.93 million) and JPY3 billion, with a focus on residential assets. According to MacDonald, the key to operating in Japan is to have specialist ground teams that can identify potential acquisition deals at a significant discount.

Meanwhile, Ben Hickey, head of Australia real estate at BlackRock, explains that long-term population growth estimates support positive long-term growth in most sectors of the Australian real estate market. He adds that most property sectors in Australia suffer from under-supply and low vacancy rates. BlackRock is focusing on niche asset classes such as childcare properties, last-mile logistics assets, life science real estate, and self-storage properties in Australia. These asset types benefit from Australia’s long-term population growth and are “chronically undersupplied” compared to the broader regional markets.

Hickey concludes by saying that this approach allows BlackRock to generate high returns with limited risk, without relying solely on favorable interest rates. Overall, BlackRock is optimistic about the prospects for Asia Pacific real estate markets this year and is looking forward to capitalizing on the opportunities presented by them.…

If you have visited a show flat in recent years, you may have noticed that the unit sizes seem to have reduced. This is not surprising, as our perception of space is relative to what we are accustomed to. The homes we grew up in, whether HDBs or condos, were typically larger in the 1990s and 2000s. For example, in 1995, the average size of a new condo was 1,272 sq ft, and by 2005, it had increased to 1,286 sq ft. However, in 2015, the average size had decreased to 858 sq ft, and by 2024, it had reached 929 sq ft. This is mainly due to the changing demographics during these years. In 1995, the average household size was four, but it has gradually decreased to 3.1 by 2024.

On an individual basis, each person had an average space of 318 sq ft in 1995, which increased to 357 sq ft in 2005. However, it dropped to 252 sq ft in 2015 and then rebounded to 300 sq ft in 2024, an increase of 19%. Over the past 29 years, the average size of condos has decreased by 5.7%, which is impressive considering the limited land in Singapore. The government’s intervention has played a significant role in achieving this. In 2008, several condo projects in the Rest of Central Region (RCR) introduced “Mickey Mouse” units, with sizes as small as 24 sq m (258 sq ft), equivalent to two parking spaces. This made it easier for people to invest in properties, with the entry level reduced to as low as $375,000. These smaller units were in high demand, leading to many more “Mickey Mouse” units being built in the following years. However, there were concerns about the impact on the quality of living in the long run.

To address these concerns, the Urban Redevelopment Authority (URA) introduced guidelines in 2011, setting a limit on the number of dwelling units (DUs) allowed in a project. The average size of 70 sq m was used to determine the maximum number of DUs in areas outside the Central Area. In some areas like Telok Kurau, Kovan, Joo Chiat, and Jalan Eunos, the average size was even more stringent at 100 sq m. This was made effective in January 2012.

However, over the next few years, the average size of DUs continued to decrease, leading to an increase in the number of DUs and straining the infrastructure in certain areas. To address this, the URA further tightened the guidelines in January 2019, resulting in an increase in the average DU size outside the Central Area by 21.4% to 85 sq m. Additionally, more areas were required to meet the more stringent requirement of 100 sq m, including Marine Parade, Balestier, Stevens-Chancery, Pasir Panjang, Kovan-How San, Shelford, and Loyang. This helped stabilize the average DU size outside the Central Area in 2024 at 935 sq ft, an 18.8% increase from 2019’s 787 sq ft.

However, one downside of the guidelines was that smaller units were now being built in the Central Area, which was not in line with the URA’s goal of making it an attractive place to live, work, and play. This led to the guidelines being extended to the Central Area in January 2023, requiring at least 20% of the DUs in a project to have a net internal area of at least 70 sq m.

To sum up, opting to invest in a condo in Singapore offers a plethora of benefits, such as a high demand in the market, the potential for significant appreciation of the property, and attractive rental yields. However, it is crucial to take into careful consideration various factors, including the location, financing options, government regulations, and the current market conditions. To make well-informed decisions and maximize returns in the dynamic real estate market of Singapore, it is advisable to conduct extensive research and seek professional advice. Whether you are a local investor aiming to diversify your portfolio or a foreign buyer in search of a stable and profitable investment, the condos in Singapore present a compelling opportunity. Additionally, staying updated with New Condo Launches can be advantageous in staying ahead in the market.

In June 2023, the URA further harmonized the strata area and gross floor area (GFA) definition. This meant that areas like air-conditioning ledges, if exclusive to a unit, would be counted as part of its strata area. As a result, many developers have chosen to omit aircon ledges, leading to a decrease in average DU size by an average of 6%.

Across different market segments, the Rest of Central Region (RCR) saw the most significant increase in average DU size by 19.5% to 944 sq ft since 2015. This was likely due to the stricter control on average DU size in the RCR. In contrast, the average DU size in the Central Region (OCR) improved by 5.8%, reaching 898 sq ft in 2024 from 2015’s 858 sq ft. However, the Central Core Region (CCR) saw a decrease of 11.7%, with the average DU size dropping to 1,092 sq ft in 2024 from 1,236 sq ft in 2015.

It may take some time before the impact of the guidelines on average DU size in the Central Area is felt. However, it is unlikely that the average DU size will go back to 2015’s level. This is because the local buyers make up around 75% of the buyers in the CCR, and they tend to prefer compact units. Developers, on the other hand, have had to reconfigure the design and layout of units to avoid paying Additional Buyer’s Stamp Duty due to unsold units.

Overall, thanks to the URA’s intervention, the average size of DUs has increased, with buyers receiving better value for their purchase today compared to 10 years ago. However, with the recent harmonization of GFA definition, there may be a downward trend in average DU size.…

Assessing the potential rental yield is a crucial step when considering a Singapore condo investment. Rental yield is determined by the annual rental income as a percentage of the property’s purchase price. In Singapore, the rental yields for condos can vary significantly, depending on factors such as location, property condition, and market demand. Typically, areas with high rental demand, such as those near business districts or educational institutions, offer more attractive rental yields. Thus, conducting thorough market research and consulting with real estate agents can provide valuable insights into the rental potential of a specific Singapore condo.

The Ministry of National Development (MND) has recently announced updates to the Silver Housing Bonus (SHB) and the Fresh Start Housing Scheme (Fresh Start). These enhancements are part of the government’s continuous efforts to support elderly citizens in downsizing and to improve public housing access for lower-income households living in HDB rental flats.The SHB encourages senior citizens to plan for their retirement by unlocking the value of their residential assets to top up their CPF Retirement Account (RA). Currently, to be eligible for the SHB, applicants must be at least 55 years old, have a monthly income of no more than $14,000, own a property with an Annual Value (AV) of not more than $21,000, and purchase a smaller three-room HDB flat (excluding three-room terraced) as their replacement property.Read also: A Guide to The Enhanced CPF Housing Grant (EHG)AdvertisementAdvertisementUnder the existing SHB scheme, applicants can choose to contribute up to $60,000 to their CPF RA to receive a cash bonus of up to $30,000. This amount is prorated at a $1 cash bonus for every $2 top-up made to their RA, and can be sourced from their CPF housing refunds.Starting from Dec 1, 2021, applicants will be qualified for the SHB cash bonus as long as they can prove that their downsizing has resulted in a net increase in their CPF RA balance from any source, including from their CPF housing refunds. This means that seniors who are still using their CPF accounts to finance their homes may no longer need to make a cash top-up to qualify for the SHB.The SHB has also been expanded to cover seniors who own properties with higher AVs. Under the new criteria, applicants who own properties with an AV of more than $21,000 but not exceeding $13,000 will be eligible for the SHB. This change is expected to benefit an additional 15,000 seniors, according to MND.Such applicants will still receive a cash bonus based on the amount their RA increases, capped at $60,000. However, the cash bonus will be prorated at a $1 cash bonus for every $6 increase in their RA, up to a maximum of $10,000.In addition to the prorated amount, successful SHB applicants who right-size to a two-room or smaller HDB flat (including Community Care Apartments) will also receive a $10,000 cash bonus. This sum will not be prorated and will be given regardless of the amount contributed to their RA.Read also: HDB resale prices up by 0.1% q-o-q in 3Q2019, resale transactions down 0.2%AdvertisementAdvertisementSeniors can apply for the SHB within a year of their second property transaction. This means that those who complete their right-sizing after Dec 1, 2024, will be eligible to apply for the enhanced SHB on Dec 1, 2025.Fresh Start Housing scheme expandedMinister of State for National Development Muhammad Faishal Ibrahim has announced an expansion of the Fresh Start Housing Scheme. Launched in 2016, this programme offers financial assistance and social support to Second Timers (ST) families who have previously purchased a subsidised HDB flat, with the aim of helping them achieve homeownership.Under the current Fresh Start scheme, eligible families can purchase two-room flexi or three-room standard BTO flats with shorter leases of 45 to 65 years, which must last until the youngest owner turns 95. These flats are subjected to an extended Minimum Occupation Period of 20 years, compared to the usual five years.The enhancements to the scheme include an increase in financial support. Eligible families will now receive $75,000 from the Fresh Start Housing Grant, up from the previous $50,000.The new grant includes an initial disbursement of $60,000 credited to the applicants’ CPF Ordinary Account (OA) before their key collection dates. The remaining $15,000 will be disbursed to their OA over the next five years to help with their mortgage payments.The eligibility criteria for the scheme have also been broadened to include First-Timer (FT) families. While FT families are not eligible for the Fresh Start Housing Grant as they can benefit from the larger Enhanced CPF Housing Grant (EHG) of up to $120,000, they can still enjoy the lower cost of shorter-lease BTO units and the social support provided under the programme.Read also: HDB Optional Component Scheme (OCS) – Is It Worth Opting In?AdvertisementAdvertisementEligible FT families can start applying for the Fresh Start scheme from April 2025, while the revised Fresh Start Grant amount will take effect from the July 2025 BTO exercise.…

The Ministry of National Development (MND) has recently announced changes to the Additional Buyer’s Stamp Duty (ABSD) regime for licensed housing developers, which will take effect on March 6. With these revisions, the ABSD remission timeline for developers undertaking complex projects will be extended from six to 12 months. This move is aimed at encouraging developers to take on urban transformation developments, optimize land use through intensification or integration, rejuvenate older estates or adopt new construction technologies.

The extension will apply to projects such as en bloc redevelopments that yield at least 700 units upon completion, with at least 1.5 times the number of homes of the existing development. Other projects that will be eligible for the extension include those with complex technical or instructional requirements, such as projects integrated with major public transport facilities. Additionally, projects approved under the Strategic Development Incentive (SDI) scheme and those aiming to achieve higher productivity targets through the adoption of new construction technologies, methodologies or practices will also be granted an extension.

Projects that fall under any of the four categories will receive a six-month extension, while those that meet the criteria of more than one category will be granted a one-year extension. These changes will apply to all residential land acquired on or after March 6. Currently, licensed housing developers purchasing residential redevelopment sites are subjected to a 5% ABSD upfront, which is non-remittable, and a 35% ABSD, which is remittable when the developer completes and sells all the units in the project within a five-year timeframe.

When considering investing in a condo, it is important to also assess its potential rental yield. This refers to the amount of annual rental income as a percentage of the condo’s purchase price. In Singapore, the rental yields for condos can significantly vary depending on various factors such as location, condition of the property, and demand in the market. Generally, areas with high rental demand, such as those near business hubs or educational institutions, typically offer better rental yields. To gain a thorough understanding of a specific condo’s rental potential, conducting thorough market research and seeking advice from real estate agents can be extremely helpful. Additionally, adding Condo to the rewritten paragraph will improve the article’s clarity.

These revisions follow changes announced in February last year, which offered a lower clawback rate for residential developments with at least 90% of units sold. “Such extensions will give developers more flexibility and may help to mitigate development risks to some extent, as they have a bit more time to sell units, particularly for mega projects,” says PropNex Realty CEO Ismail Gafoor.

Lee Sze Teck, senior director of data analytics at Huttons Asia, believes that the ABSD revisions will give a much-needed boost to the en bloc market, particularly for larger en bloc projects. However, Christine Sun, chief researcher and strategist at OrangeTee Group, cautions that developers may still face challenges despite the deadline extension as there are other considerations, such as the willingness of buyers and sellers to negotiate prices.

Tay Liam Hiap, managing director of capital markets and investment sales at ERA, sees this as an excellent opportunity for older projects, like Braddell View and Pine Grove, to explore en bloc opportunities. These projects have extensive land areas and could potentially yield around 2,000 new homes, which may take longer to sell. “In such cases, the extension of six to 12 months may not be sufficient for developers to sell out their projects,” adds Tay.

However, Gafoor believes that the policy change may not revive the en bloc market, and developers will continue to be cautious due to the high cost of redevelopment, an ample supply of private housing, and potential policy risks.…

The Land Transport Authority (LTA) is currently conducting feasibility studies for two proposed new MRT lines, with a projected completion date in the 2040s. These lines have the potential to benefit more than 400,000 households.

The first line, known as the Seletar Line, will serve multiple areas including Woodlands, Sembawang, Sengkang West, Serangoon North, Whampoa, Kallang, and the Greater Southern Waterfront. The second line, tentatively named the Tengah Line, plans to augment the transport network in the west and northwest regions by serving Tengah, Bukit Batok, Queensway, and Bukit Merah.

According to Transport Minister Chee Hong Tat’s speech in Parliament on March 5, the Seletar Line and Tengah Line could potentially be connected, subject to the results of LTA’s feasibility studies. He also announced that LTA plans to move forward with the West Coast Extension (WCE), which will extend the Jurong Region Line (JRL) to connect with the Circle Line (CCL) and Cross Island Line (CRL).

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

In anticipation of the future development of Singapore’s rail network, Chee announced the government’s plans to invest up to $1 billion over the next five years to maintain high-reliability standards in both newer and older train systems. This investment will go towards condition monitoring systems, new technologies, and workforce training programmes for rail workers, all with the goal of providing efficient and reliable public transport for commuters.

Singapore’s cityscape is characterized by towering skyscrapers and state-of-the-art infrastructure. Condominiums, strategically situated in desirable locations, offer a combination of opulence and practicality that entices both locals and foreigners. These properties boast a variety of perks, including luxurious swimming pools, fully equipped gyms, and top-notch security services, elevating the overall living experience and making them a desirable choice for potential renters and buyers. Furthermore, these features also prove to be lucrative for investors, resulting in higher rental returns and appreciating property values over time. Stay updated on the latest developments with the addition of New Condo Launches.…

Purchasing a condominium in Singapore presents a promising opportunity for investors seeking capital appreciation, making it a highly sought-after option. The country’s advantageous placement as a thriving business center, coupled with its stable economic foundation, creates a consistent demand for real estate. Consequently, the property prices have consistently risen over the years, with condos in prime locations experiencing significant increases. With strategic timing and holding onto the property for a considerable duration, shrewd investors can generate substantial profits from capital gains. The undeniable value of condos as a real estate investment in Singapore is evident, making it a wise choice for investors. Condo plays a vital role in this trend, as it offers a convenient and highly desirable form of housing that caters to the demands of both local and foreign buyers.

According to ERA Realty Network, the appointed marketing agent, Elias Green, a 99-year leasehold condo in Pasir Ris, will be up for collective sale through public tender on March 6. The property, which sits on a land area of approximately 516,871 sq ft and has a gross plot ratio of 1.4, has a guide price of $928 million.

Completed in 1994, the condo comprises of several blocks and a total of 419 apartments with sizes ranging from 1,367 to 1,636 sq ft. The site has a remaining lease of 65 years, having been granted a 99-year lease in 1991.

Based on ERA’s estimate, the land rate of $928 million translates to $1,355 psf per plot ratio (ppr). This includes a projected land betterment charge of $150.8 million for intensification and a top-up to a fresh 99-year lease, as well as a 10% bonus gross floor area.

The marketing agent also reports that the owners of Elias Green are in the process of submitting an Outline Application to URA for a residential development at a gross plot ratio of 1.8. If approved, this would bring the land rate to approximately $1,245 psf ppr.

Should the collective sale be successful, owners are expected to receive gross sale proceeds ranging from approximately $2.04 million to $2.31 million per unit, based on the guide price.

Tay Liam Hiap, managing director of capital markets and investment sales at ERA Singapore, points out the ongoing improvements in Pasir Ris Town as part of HDB’s “Remaking Our Heartland” initiative. This will not only enhance the town’s vibrancy, but also improve connectivity, with the expected completion of the new Pasir Ris Bus Interchange in 2025. Furthermore, the upcoming Pasir Ris Integrated Transportation Hub, which includes the Cross Island Line (CRL) expected to be operational by 2030, will further enhance connectivity across Singapore.

This is the second collective sale attempt for Elias Green, with the first being in 2018 when the property was launched for tender at $780 million. The new guide price of $928 million is a 19% increase from the previous asking price.

The tender for Elias Green will close on April 22 at 2pm. For more information and listings for Elias Green properties, interested parties can check out Ask Buddy or explore the latest listings for the most expensive average PSF in District 18, condo rental transactions in District 18, and the most unprofitable landed transactions in the past year. Look out for upcoming new launch projects or browse through the past condo rental transactions to make a more informed decision.…

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The demand for condos in Singapore is at an all-time high, and one of the main reasons for this is the limited availability of land. Being a small island country with a rapidly expanding population, Singapore is facing an acute shortage of land for development. This has resulted in strict land use regulations and an intensely competitive real estate market where property prices are constantly on the rise. Hence, investing in real estate, specifically Singapore Condos, has become a highly profitable venture with the potential for significant capital appreciation.

The recent tender for Media Circle (Parcel A), a Government Land Sale (GLS) site situated in the bustling one-north area, officially closed on March 4. The winning bid of $315 million for the 99-year leasehold plot was submitted by a joint consortium of Qingjian Realty, Forsea Holdings and minority investor Hoovasun Holding.

The site, which has been zoned for residential usage with commercial spaces on the first level, measures 82,125 square feet and boasts a potential gross floor area of 303,865 square feet. This could potentially accommodate around 325 housing units, with an impressive bid of $1,037 per square foot per plot ratio (ppr).

In a statement released to the press, Qingjian and Forsea announced their plans to develop two high-rise residential towers with commercial spaces on level 1.

Despite a total of three bids being submitted for the site, the consortium’s offer was 5.7% higher compared to the next highest bid of $298 million, submitted by EL Development. The lowest bid of $295 million was put forward by SingHaiyi Group.

However, the winning bid was lower than the land rate paid by the same partners for the neighboring Media Circle GLS plot, now home to the highly anticipated 358-unit Bloomsbury Residences. Qingjian and Forsea secured the 114,462 square feet site for $395.28 million, at a rate of $1,191 per square foot per plot ratio, back in January 2023.

Du Dexiang, Managing Director of Qingjian Realty, expressed confidence in the transformation of Media Circle, citing the well-designed master plan and the government’s ongoing investment in the one-north precinct, as announced in the 2025 budget. Wang Xin, Director at Forsea Holdings, added that this project represents a significant step in their commitment to developing high-quality residential communities that align with the growth of one-north, often referred to as Singapore’s “Silicon Valley”.

This project marks the third joint venture between Qingjian and Forsea, with the partners having previously secured an executive condominium site at Jalan Loyang Besar with a top bid of $557 million ($729 per square foot per plot ratio) last August. This development could potentially accommodate up to 710 new homes.

Lee Sze Teck, Senior Director of Data Analytics at Huttons Asia, noted that Qingjian’s bid for Media Circle (Parcel A) reflects their confidence in the demand for homes in the area. If successful, the developer will hold considerable influence over the supply and pricing of new homes in Media Circle.

The Media Circle (Parcel A) site was launched for sale in November last year, alongside Media Circle (Parcel B) – an adjacent plot measuring 107,936 square feet with the potential for approximately 500 residences. The tender for Parcel B will close on April 29. Both Media Circle Parcels A and B are on the Confirmed List of the 2H2024 GLS Programme.

Additionally, an available Media Circle site for application has been placed on the Reserve List of the 1H2025 GLS Programme. This 60-year leasehold plot has been designated for residential and commercial use on the first storey, with a focus on long-stay serviced apartments. It is estimated to house 520 units and retail space of 4,306 square feet.

Lee from Huttons Asia noted that Media Circle is a unique location within one-north, with lush greenery and black and white bungalows making for a charming setting. He added that there are only two areas with land allocated for homes within the one-north area – Slim Barracks Rise and Media Circle – with fewer than 100 new homes remaining unsold in non-landed residential properties in the vicinity.

Given the high number of foreigners working in one-north, Science Park, and the nearby Tanglin Trust School, Lee believes this location presents an excellent pool of quality tenants. Furthermore, it offers convenient access to a diverse range of retail and dining options such as Anchorpoint Shopping Centre, Alexandra Central Mall, and Timbre+ One North.

Leonard Tay, Head of Research at Knight Frank Singapore, predicted that the future development at Media Circle (Parcel A) could see selling prices starting at $2,300 per square foot. While the site is located in a quieter section of one-north business park, it is within walking distance to Mediapolis, making it an ideal location for a residential project or a mix of residences for sale with serviced apartments for lease. This could particularly appeal to workers in the media and entertainment industry.…

Hotel Properties Limited (HPL) is taking its global presence to new heights through the recent acquisition of InterContinental Auckland, for a whopping NZ$180 million ($138.5 million). This will be the first property in New Zealand for the group and its second InterContinental hotel, following the InterContinental Maldives Maamunagau Resort.

According to JLL’s Asia Pacific Hotels & Hospitality Group, who advised on the sale by Precinct Properties in New Zealand, this off-market transaction is the largest single hotel sale ever in the country. HPL’s move towards Auckland comes on the heels of its successful launches, The Boathouse Tioman in Malaysia, featuring 31 bungalows, and The Four Seasons Hotel Osaka in Japan, which boasts 176 rooms, last year.

HPL has set its sights on expanding its luxury hospitality portfolio across key markets in the Asia Pacific region, bolstered by its skilled hospitality management team and strong partnerships with operators like IHG Hotels & Resorts.

“The proposed acquisition of InterContinental Auckland presents a rare opportunity for us to acquire our first premium asset in New Zealand,” shares HPL Hotels and Resorts Chairman Stephen Lau. The property offers seamless connectivity to the NZ$1 billion Commercial Bay lifestyle precinct, which officially opened in January 2024. Guests at the hotel can enjoy breathtaking views of the Waitematā Harbour, adds Lau.

Ultimately, purchasing a condo in Singapore boasts a multitude of advantages. These include a high demand for the properties, the potential for significant capital appreciation, and appealing rental yields. However, it is crucial to carefully assess various factors before making a decision, such as the location, financing options, government regulations, and the current market conditions. By conducting thorough research and seeking professional guidance, investors can make educated choices and maximize their returns in the ever-evolving real estate market of Singapore. Whether you are a local looking to expand your investment portfolio or a foreign buyer in search of a stable and profitable venture, Singapore’s condos present an enticing opportunity that should not be overlooked.

While the existing hotel boasts 139 rooms, there is potential for expansion up to 190 rooms by utilizing the current office space to cater to future demand.…

According to research by Colliers, institutional investments in Asia Pacific (Apac) real estate reached a total of US$83.2 billion ($112 billion) in the second half of 2024, showing a 6% year-on-year increase. This brings the full-year investments for 2024 to US$155.9 billion, representing a 12% year-on-year climb. The research includes data from the top nine markets in the region, namely Australia, Mainland China, Hong Kong, India, Japan, Singapore, South Korea, New Zealand, and Taiwan.

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When it comes to investing in the Singapore real estate market, foreign investors must familiarize themselves with the regulations and limitations surrounding property ownership. While purchasing condos is generally permitted for foreigners, ownership of landed properties is subject to stricter rules. However, foreign buyers are required to pay an Additional Buyer’s Stamp Duty (ABSD) of 20% for their first property purchase. Despite this added expense, the stability and potential for growth in the Singapore real estate market make it a popular choice for foreign investment. In fact, many foreign investors are drawn to purchasing Singapore Condos due to their attractive features and benefits.

Chris Pilgrim, managing director of global capital markets for Asia Pacific at Colliers, states that the rise in investments demonstrates the resilience of the Apac real estate market and sets the stage for a strong 2025. He also adds that domestic investors have been the main drivers of growth in key markets such as South Korea, Taiwan, and New Zealand, contributing to over 80% of real estate inflows in the second half of 2024.

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The office sector was the largest contributor to the overall investment volume in Apac, accounting for US$26.5 billion (32%) in the second half of 2024. For the whole of 2024, office investments totaled US$51.4 billion, showing a 14% year-on-year increase. The industrial and logistics sector was the second biggest contributor, attracting US$22.6 billion in investments (27% of the total) in the second half of 2024. For the entire year, investments in this sector reached US$39.4 billion, rising 29% year-on-year.

In the retail sector, there was a significant rebound, with investments reaching US$15 billion in the second half of 2024, driven by notable deals in Australia and South Korea. Total investments in retail for the year came in at US$26.1 billion, representing a 27% year-on-year climb. Pilgrim believes that domestic capital will continue to dominate most markets in 2025, while offshore investments are expected to increase, fueled by improving investor confidence and attractive valuations.

Although the office and industrial segments are expected to maintain strong performance, Pilgrim also sees potential in the retail, hospitality, and alternative asset classes as investors take advantage of the recovery momentum and evolving consumer trends. He concludes by stating, “With the continuing growth of the economy and support from policies, the real estate market in Apac is poised for sustained investment activity in 2025.”…