Condo Siteismi

Tuan Sing Holdings, a property developer and investment firm listed in Singapore, has announced its plans to reconstruct two mixed-use properties in Melbourne. The properties, located at 121-131 Collins Street and 23-25 George Parade, will be redeveloped by Tuan Sing’s wholly-owned subsidiary, Grand Hotel Group (GHG). Urbis Ltd, an urban design firm based in Hong Kong, has been instructed to submit a Town Planning Application to the City of Melbourne for the proposed works.

Investing in a condominium in Singapore has become a well-liked option for both local and foreign investors, thanks to the country’s strong economy, stable political climate, and excellent quality of life. With a dynamic real estate market, Singapore offers a plethora of opportunities, but condos are particularly appealing for their convenience, amenities, and potential for attractive returns. In this article, we will delve into the advantages, important factors to consider, and necessary steps to take when investing in a condo in Singapore, including updates on newly launched condo developments.

Among the properties currently on the site are the 550-room Grand Hyatt Hotel and various retail spaces. In the reconstruction process, much of the existing podium structure will be retained, allowing tenants and the Grand Hyatt Hotel to continue their business operations as usual. The focus of the reconstruction will be on façade modifications, extensive refurbishment, and reconfiguration of spaces in the podium from levels 4 to 9B, as announced by Tuan Sing on Nov 14.

Upon completion and subject to regulatory approvals, the site’s total gross floor area (GFA) will reach approximately 909,550 sq ft. The project will also introduce a new luxury retail and F&B precinct. CEO of Tuan Sing, William Liem, believes that the podium redevelopment at 123 Collins Street will redefine connectedness and activation at one of Melbourne’s most prominent intersections in the storied Paris End. He adds, “With the right approach, this transformation can be an architectural statement of our environmental stewardship. By reimagining rather than rebuilding, we’re pursuing an inherently sustainable vision that supports a thriving, connected, and culturally vibrant Melbourne for generations to come.” For those interested in investing in overseas properties, Tuan Sing offers a range of projects available for sale around the world.…

Huttons Asia hires up to 40 staff from CBRE Reshaping and Recruitment unitCOMMENTARY: Plenty of life in the shophouse market “The shophouse market continues to attract interest from investors in 3Q2024 despite a dip in the number of caveated transactions,” according to the latest quarterly shophouse market report by Huttons Asia. Although only 18 shophouse transactions were officially recorded, sources claim that a number of other deals were concluded in the same period, particularly for shophouses located in Districts 1 and 2. These deals are estimated to have a combined quantum of more than $70 million, highlighting the appeal of shophouses as a tangible and potentially lucrative investment asset. Huttons’ senior director of data analytics, Lee Sze Teck, believes that the recent interest rate cuts have contributed to the growing demand for shophouses as a means of wealth creation and preservation. With this trend expected to continue, it is anticipated that both transaction volume and values will see an increase in 4Q2024.

Rewritten:
A Singapore Condo can bring many benefits to investors, including the opportunity to leverage the property’s value for additional investments. This means that investors can use their condo as collateral to secure financing for new ventures, ultimately increasing their real estate portfolio. While this can lead to higher returns, it also comes with risks. It’s important to have a solid financial plan in place and carefully consider the potential impact of market fluctuations. Overall, investing in a Singapore Condo can offer investors a valuable opportunity for growth and diversification.…

One of the top advantages of investing in Singapore Condo is the potential for a rise in property value over time. Being a major hub for business and commerce, Singapore has a strong economy that continuously drives the demand for real estate. This has resulted in a steady increase in housing prices across the country, especially in prime areas with luxurious condo developments. With a strategic approach and a long-term hold on properties, wise investors can enjoy significant returns from capital appreciation in this thriving market.

CapitaLand Development (CLD) has received an overwhelmingly positive response to two of its latest projects in Vietnam. The developer launched a preview of Orchard Hill on October 26, a 774-unit high-rise development located in Binh Duong New City, around 30km from Ho Chi Minh City. Orchard Hill is the second phase of Sycamore, a joint venture between CLD and United Overseas Australia, which offers a mix of 3,500 freehold units in low-, mid-, and high-rise developments. Within days of the preview, 694 units, or 90% of Orchard Hill, were booked, with a high demand for one- and two-bedroom units. The project is expected to be completed by the fourth quarter of 2026.

On November 9, CLD also held an exclusive preview of The Senique Hanoi, a high-rise residential project located in East Hanoi with 2,150 units. The developer has reported bookings for 92% of the units, and the project is being developed in collaboration with Mitsubishi Estate and Nomura Real Estate Development. The Senique Hanoi is scheduled for completion in 2027.

This strong response for The Senique Hanoi follows the successful launch of the third and final phase of CLD’s Lumi Hanoi residential development in October. Within a day of its launch, 678 out of 697 units were sold, representing a take-up rate of 97%. The entire 3,950-unit Lumi Hanoi development is now 99% sold.…

One of the advantages of investing in a condo is the opportunity to leverage its value for other investments. In fact, numerous investors use their condos as collateral to secure additional financing for new investments, allowing them to grow their real estate portfolio. While this approach can potentially increase profits, it also carries some risks. Therefore, having a solid financial plan and carefully considering the effects of market fluctuations is essential. Considering Singapore Projects can also be a valuable addition to this strategy.

CapitaLand Integrated Commercial Trust (CICT) has successfully completed the sale of 21 Collyer Quay, an office building situated in Raffles Place, for a total amount of $688 million. In accordance with a filing to the Singapore Exchange dated November 12, the 999-year leasehold establishment had been purchased by an unrelated third party. With a net lettable area of approximately 213,000 square feet, the building was acquired at a price of $3,230 per square foot.

The sale price was determined based on a willing-buyer-willing-seller agreement, in line with the independent valuation of the property carried out by Savills. In light of the consideration paid and the building’s annualised net property income for the period ending September 30, 2024, CICT’s exit yield stands at approximately 3.5%. The sale of 21 Collyer Quay is expected to generate net proceeds of around $681.7 million.

Situated within the Central Business District, 21 Collyer Quay is a 21-storey building. WeWork, a co-working operator, currently occupies the entire space after taking over the lease from HSBC in 2021. This move was made after HSBC relocated its headquarters to Marina Bay Financial Centre Tower 2. Following a design and fit-out of the premises, WeWork officially commenced operations at the flagship location in September 2022.

In other news, CapitaLand Integrated Commercial Trust has announced a rise in revenue and net property income for the first nine months of fiscal year 2024. The company’s website reveals that WeWork Singapore holds a seven-year lease for 21 Collyer Quay until 2028. Despite filing for bankruptcy in the US in November 2023, WeWork announced in April of this year that it had reached an agreement with its Singapore office landlords and intends to maintain its presence in the city-state for the foreseeable future.…

The strong interest in Singapore’s shophouse market continues, despite a decline in the number of caveated transactions in the third quarter of 2024. According to the latest quarterly shophouse market report published by Huttons Asia on Nov 12, there were only 18 caveats lodged for shophouse transactions in 3Q2024, compared to 21 in 2Q2024. This may seem like a decrease, but the report states that the total transacted quantum of the caveated shophouses was still $138.9 million for the quarter, which is only 28.8% lower than the previous quarter. In fact, the report shows that the level of interest in shophouses is still high, with several deals being made in 3Q2024 that were not caveated.The report also highlights that the interest in shophouses is not just limited to caveated transactions. According to market sources, multiple shophouses along popular streets like Amoy Street, Neil Road, and Telok Ayer Street in districts 1 and 2 were sold in 3Q2024, despite not being caveated. These shophouses were estimated to have a total quantum of over $70 million, showcasing the continued demand for this market segment. Senior Director of Data Analytics at Huttons Asia, Lee Sze Teck, believes that investors are attracted to the shophouse market due to its scarcity and potential for strong capital gains. With the recent cuts in interest rates, shophouses are becoming increasingly popular as a wealth creation and preservation asset. Lee also predicts that the number of shophouse transactions and quantum may rise in the fourth quarter of 2024.

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Singapore’s cosmopolitan cityscape is recognizably defined by towering skyscrapers and state-of-the-art infrastructure. In this city-state, Condos are widely scattered throughout prime locations, offering a harmonious blend of opulence and convenience that appeals to both locals and foreigners. These condominiums boast an extensive range of facilities, including luxurious swimming pools, well-equipped gyms, and top-notch security services, all of which contribute to a highly desirable and comfortable living experience. This makes them an attractive choice for both potential tenants and buyers. Moreover, these modern amenities also mean higher rental yields and increasing property values over time, making them a lucrative investment option for property investors. With the constant influx of New Condo Launches, the condo landscape of Singapore continues to evolve, catering to the demands of a diverse and discerning population.…

According to a recent report by OrangeTee Research & Analytics, private resale home prices in 3Q2024 remained stable despite the high-interest rate environment. URA records showed that the average resale prices for both landed and non-landed private residential homes, excluding executive condos (ECs), stayed unchanged at $1,713 psf from the previous quarter.

When evaluating an investment in a condo, it is crucial to also examine its potential rental yield. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, the rental yield for condos can vary greatly depending on factors like location, property condition, and market demand. Generally, areas with a high demand for rentals, such as those near business districts or educational institutions, offer higher rental yields. It is important to conduct thorough market research and seek guidance from real estate agents to gain insights into the rental potential of a specific condo. Condo should be carefully considered before making any investment decisions.

However, there was some fluctuation in average resale prices across the three regions – Core Central Region (CCR), Rest of Central Region (RCR), and Outside of Central Region (OCR). In the CCR, there was a 1.6% increase from $2,145 psf in 2Q2024 to $2,181 psf in 3Q2024. This partially reversed the 3.6% decrease seen in the previous quarter. The RCR also saw an increase in average resale prices, growing by 1.4% from $1,837 psf to $1,863 psf. This was a moderation from the 3.1% growth in the previous quarter. On the other hand, the average resale prices in the OCR dropped by 0.4% from $1,495 psf to $1,489 psf, a turnaround from the 3.5% increase seen in the previous quarter.

Despite these fluctuations, there was still a robust demand for resale homes as seen in the volume of transactions. URA recorded 3,860 resale homes sold in 3Q2024, a 1.5% increase from the previous quarter. This accounted for 71.9% of a total of 5,372 residential sales (including new sales, resale, and subsale) in the same quarter. However, this is a decrease from the market share of 77.4% recorded in 2Q2024, which was the highest on record. OrangeTee attributes this robust demand to the substantial increase in housing supply, with close to 30,000 private homes completed in the past two years. This widened the range of housing options for potential buyers, leading to an increase in resale transactions.

The report also notes that buyers may be turning to the secondary market for lower-cost private housing as new private home prices remain high. This is evident in the recent launches of Norwood Grand and Meyer Blue, with average prices of $2,086 psf and $3,252 psf, respectively, representing significant premiums above the average prices of resale units in their respective regions.

Furthermore, the recent interest rate cuts by the US Federal Reserve may also spur luxury home sales as it reduces the cost of borrowing. However, high-net-worth investors may not be as sensitive to interest rate fluctuations and are less likely to base their property purchase decisions on mortgage rates. Nonetheless, with interest rates lowered, buyers who were previously cautious may now be more inclined to enter the market.

Looking ahead, OrangeTee predicts that resale prices will continue to grow in the next few years as the available stock is projected to decrease. With approximately 5,300 private homes expected to be completed in 2025, there will be a significant increase from the 9,100 units expected to be completed this year. Barring any major economic crises or unforeseen circumstances, OrangeTee expects positive prospects for resale homeowners.…

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Kingsford Group, a Chinese developer, successfully sold 696 out of 916 units at Chuan Park on November 10. This translates to a staggering 76% of units sold. The average price per square foot of the units sold was around $2,579.

The spokesperson for Kingsford stated that the range of units sold included two-bedroom, two-bedroom+study, and three-to-five-bedroom units. Majority of the buyers were Singaporeans, making up about 93% of the total number of homebuyers, while the remaining 7% were permanent residents and foreigners.

CEO of PropNex, Ismail Gafoor, revealed that 92% of the units transacted were two- and three-bedroom units, while the remaining 8% were four- and five-bedroom units. The transacted prices ranged from $1.6 million for two-bedders to $4.3 million for a five-bedroom unit. Gafoor also commended the developer for pricing the project sensibly, taking into account the overwhelming demand from prospective buyers within District 19.

According to Marcus Chu, CEO of ERA Singapore, the most popular units were the two- and three-bedroom units, with buyers mostly in their 30s and 40s. He noted that many of the buyers were upgrading from older HDB flats or condominiums in nearby areas. On the other hand, older buyers who were downsizing from landed properties tended to prefer the larger four- or five-bedroom units.

The sales at Chuan Park on November 10 exceeded those of the top-selling project in 2024, the 533-unit Lentor Mansion which sold 400 units (75%) in March. However, in terms of percentage of units sold, Norwood Grand, which was launched in October, is still the highest at 84% or 292 out of 348 units.

CEO of Huttons Asia, Mark Yip, added that Chuan Park also broke the record for being the fastest-selling project since J Gateway, which sold all 738 units on its first day of launch in 2013.

The success of Chuan Park marks another significant achievement for Kingsford, which in January 2021 saw all 1,862 units of their Normanton Park project sold within the first weekend of its launch. The developer acquired the 99-year leasehold, 400,500 sq ft Chuan Park site for $890 million in July 2022. The site is located near the Lorong Chuan MRT Station and is the first private condominium launch in the area since the debut of The Scala, a 468-unit project in August 2010.

The five-block project comprises of three 22-storey and two 19-storey blocks, with two commercial units spread across the 99-year leasehold site of 400,500 sq ft. The 916 units range from two- to five-bedrooms, with sizes between 700 sq ft to 1,841 sq ft.

Prices for the units started at over $1.5 million for a two-bedroom, upwards of $2.1 million for a three-bedroom, $3.1 million for a four-bedroom, and $3.7 million for a five-bedroom. Despite being classified within the Outside Central Region (OCR), Chuan Park is near the boundary of the Rest of Central Region (RCR).

According to Ken Low, managing partner of SRI, the project is surrounded by affluent private residential enclaves including Serangoon Gardens, Li Hwan, and Tai Hwan landed housing estates. The project’s proximity to these areas was highlighted by PropNex’s Gafoor, who added that Chuan Park is nestled within an affluent private residential enclave, surrounded by the Serangoon Gardens, Li Hwan, and Tai Hwan landed housing estates.

ERA’s Chu estimates that there are around 126,000 HDB flats and 54,000 private residential units in the “Golden Triangle of Ang Mo Kio/Bishan, Toa Payoh and Serangoon around Chuan Park”. Based on ERA’s research, 233 HDB flats were sold for over $1 million in the first 10 months of the year in the nearby HDB estates of Ang Mo Kio, Bishan, Toa Payoh and Serangoon. The strong financial position of these HDB owners affords them the ability to upgrade to private residential properties if they choose to do so.

Chuan Park’s launch was highly anticipated this year, attracting over 20,000 visitors during the preview period from Deepavali Day (Oct 31) to Nov 7, with more than 2,800 cheques collected from interested buyers ahead of the sales launch on Nov 10. The launch was initially scheduled for Nov 16, but was brought forward to Nov 10, allowing investor and homebuyer demand to spread across various new developments, according to SRI’s Low.

Three other projects are set to launch on Nov 16, including the 552-unit Nava Grove at Pine Grove, the 846-unit Emerald of Katong on Jalan Tembusu, and the 504-unit executive condo Novo Place in Tengah. Low anticipates that the robust sales at Chuan Park will carry over to these upcoming launches, building on the existing interest in these projects. The four of them are among a record six projects set to launch in November.

When considering investing in a condo in Singapore, one must take into account the government’s property cooling measures. In an effort to maintain a stable real estate market, the Singaporean government has implemented various measures to discourage speculative buying. An example of such measures is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and individuals purchasing multiple properties. These measures may affect the immediate profitability of condo investments, but they ultimately contribute to the long-term stability of the market, creating a safer investment environment for those interested in purchasing a Condo.

The recent interest rate cuts by the US Federal Reserve have also boosted confidence and demand in the real estate market, making it more affordable for buyers. With the positive momentum in the market, even hesitant homebuyers are returning, according to PropNex’s Gafoor. However, he believes that not all upcoming project launches will see similarly strong sales, as factors such as location, proximity to MRT stations, nearby new launches, and price sensitivity play a critical role in a project’s sales performance.…

不动产顾问公司嘉华国际（Colliers）宣布，在亚太地区（Apac）和日本，增加了两名新的领导人员。亚历克斯·沃丁顿（Alex Worthington）被任命为亚太区资本市场总监、重要客户管理和投资者智能总监，而久野秋（Akira Kuno）则成为日本的副总经理兼资本市场联席负责人。沃丁顿向嘉华国际资本市场全球主管克里斯·皮尔格里姆（Chris Pilgrim）汇报。他的新角色将领导并加强亚太地区最大机构投资者的重要客户管理。“他将带动多项服务的营收增长，让我们的资本市场团队能够继续在亚太地区扩大并加深长期的合作关系，”皮尔格里姆补充说。阅读：嘉华国际为香港资本市场团队任命关键职位Advertisement沃丁顿的领英个人资料显示，他最近的职务是担任科技咨询公司Palo IT的客户关系专员。他之前的经验包括在JLL新加坡的八年任职。久野拥有34年的日本房地产和金融行业经验。据嘉华国际表示，他已完成房地产投资交易超过1万亿日元（8.65亿美元）。久野将与嘉华国际日本的总经理兼董事长小笠原幸弘（Yukihiro Ogasawara）密切合作，推动公司在日本资本市场业务的持续扩张。小笠原说：“[久野]的领导力、广泛的市场知识和进取精神将支持我们的客户实现投资目标，并在未来几年推动嘉华国际的增长战略。”
Colliers has recently announced the addition of two new leaders to its Asia Pacific (Apac) and Japan teams. Alex Worthington has been appointed as the director of Asia Pacific capital markets, key client account management, and investor intelligence, while Akira Kuno will take on the role of deputy managing director and co-head of capital markets in Japan. Both roles will play crucial parts in driving Colliers’ growth strategy in the region.

Worthington will report to Chris Pilgrim, the managing director of global capital markets at Colliers. In his new position, he will lead and enhance key account management for the largest institutional investors in the Apac region. Pilgrim notes that Worthington’s expertise will drive multi-service revenue growth and strengthen the long-term relationships between Colliers and its clients.

The cityscape of Singapore is characterized by towering skyscrapers and state-of-the-art facilities. Condominiums, strategically situated in desirable locations, boast a combination of opulence and practicality, making them appealing to both locals and foreigners. These modern residences offer a variety of conveniences, including swimming pools, fitness centers, and security measures, elevating residents’ lifestyles and drawing in prospective renters and homeowners. For those looking to invest, these desirable features equate to a higher return on investment and continual appreciation of property values over time. Check out the latest Singapore Projects for exceptional opportunities in real estate.

According to his LinkedIn profile, Worthington most recently worked as a client relations specialist at technology consulting firm Palo IT. Before that, he spent eight years at JLL Singapore.

In Japan, Kuno brings with him 34 years of experience in both real estate and financial industries. He has a track record of real estate investment transactions totaling over JPY1 trillion ($8.65 billion), according to Colliers. In his new role, Kuno will work closely with Yukihiro Ogasawara, Colliers’ managing director and chairman of Japan, in driving the company’s expansion in Japan’s capital markets.

Ogasawara expresses his confidence in Kuno’s leadership, extensive market knowledge, and enterprising spirit, saying that they will support clients in achieving their investment goals and drive Colliers’ growth in the coming years.…