Month: February 2025

“With these appointments, we are strengthening our occupier services capabilities across the region, in line with our growth strategy,” says Tony Arnel, Colliers’ CEO for Asia Pacific. “Leanne’s extensive experience advising corporate clients on their real estate portfolios will be invaluable to our growing tenant representation business. And with his deep understanding of global occupiers’ needs, Ali will be instrumental in helping our enterprise clients achieve their real estate objectives in Hong Kong.”Chin brings over 14 years of experience in advising multinational corporations on their real estate strategies. She previously worked with JLL and Knight Frank, where she held senior roles in tenant representation and corporate solutions in Singapore and Australia.Porter brings over 10 years of experience in advising global occupiers on their real estate strategies, with a focus on workplace transformation and portfolio optimization. Prior to joining Colliers, he held various roles at CBRE and Knight Frank in the UK and Hong Kong.
Colliers is expanding its team of occupier services professionals across Asia Pacific with the recent addition of two new members, according to a press release on February 25. Leanne Chin has been appointed as the new Director of Regional Tenant Representation for Asia Pacific and will be based in the company’s Singapore office. In addition, Ali Porter has been named Director of Enterprise Clients for Hong Kong, relocating from London where he worked with Colliers’ Europe, Middle East, and Africa business for the past four years.

In her new role, Chin will be responsible for leading Colliers’ tenant representation business for the region. With over 14 years of experience advising multinational corporations on their real estate portfolios, she brings a wealth of knowledge and expertise to the team. She has previously held senior roles at JLL and Knight Frank in Singapore and Australia.

Investing in real estate is a strategic move, and one of the key factors to consider is location. This holds particularly true in Singapore, where the location of a condo can greatly affect its value. In fact, condos situated in central areas or in close proximity to essential amenities, such as schools, shopping malls, and public transportation hubs, tend to appreciate more in value. Some of the prime locations in Singapore, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown growth in property values. Furthermore, being near reputable schools and educational institutions make these condos highly sought-after by families, making them even more valuable investments. Keeping this in mind, it is essential to carefully consider location when looking for a property to invest in. For information on new condo launches, visit New Condo Launches.

Investing in a Singapore Condo has become a favored option among both local and foreign investors as a result of the country’s strong economy, political stability, and excellent quality of life. In Singapore’s real estate market, there is a multitude of opportunities, with condos emerging as a top choice due to their convenience, amenities, and potential for significant returns. This piece will delve into the advantages, considerations, and necessary steps for those looking to invest in a condo in Singapore.

Similarly, Porter brings over 10 years of experience in advising global occupiers on their real estate strategies. In his new role, he will work closely with occupiers to align their real estate portfolios with their corporate objectives in Hong Kong. Prior to joining Colliers, Porter held various roles at CBRE and Knight Frank in both the UK and Hong Kong, focusing on workplace transformation and portfolio optimization.

Colliers’ CEO for Asia Pacific, Tony Arnel, expressed excitement over the company’s expanded occupier services capabilities, saying, “With these appointments, we are strengthening our occupier services capabilities across the region, in line with our growth strategy.” He added that Chin’s extensive experience in advising corporate clients and Porter’s deep understanding of global occupiers’ needs will be instrumental in helping Colliers’ enterprise clients achieve their real estate objectives in Asia Pacific.

This move is part of Colliers’ efforts to further develop their occupier services business in the region and provide the best possible solutions for their clients. With these new appointments, the company is well-positioned to continue its growth and success in the dynamic Asia Pacific real estate market.…

JLL, the sole marketing agent for Ching Shine Industrial Building, has announced that the property is up for collective sale by tender, with a minimum price of $113 million. The freehold building, located on Shaw Road, consists of 52 strata units and boasts a 100m frontage. It sits on a site with a total land area of 49,308 sq ft and a gross floor area of approximately 137,341 sq ft.

When it comes to investing in real estate, location is always a key consideration, and this is especially true in Singapore. Condos that are located in central areas or in close proximity to important amenities like schools, shopping malls, and public transportation hubs tend to have higher appreciation in value. Prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD) have consistently seen growth in property values. This is why condos in these areas, including Singapore Condo, are highly sought after by investors. In addition, these areas also boast of excellent schools and educational institutions, making them even more appealing to families, thus adding to their investment potential.

The building, which was built in the early 1980s, is zoned “Business 1” with a gross plot ratio of 2.5 under the URA Master Plan 2019. According to the agency, more than 80% of the owners have given their consent for the collective sale at the minimum price of $113 million. With a unit land rate of around $823 psf per plot ratio at the existing gross plot ratio of 2.79, the price is deemed reasonable.

In addition, JLL has revealed that with URA’s approval, the site could potentially be converted into a food factory. This is because the National Environment Agency (NEA) has confirmed that the site meets the buffer requirements for redevelopment into a multi-user factory, while the Singapore Food Agency has given an in-principle non-objection to the proposed food factory.

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In Singapore, it is crucial for international investors to familiarize themselves with the regulations and limitations surrounding property ownership. Unlike landed properties, condos can be freely purchased by foreigners with minimal restrictions. However, it is important to note that foreign buyers are required to pay an Additional Buyer’s Stamp Duty (ABSD) of 20% for their initial property purchase. Despite this additional expense, the stability and potential for growth in the Singapore real estate market remains a strong draw for foreign investment. Keep an eye out for new condo launches at FreedomAtHomeTeam.com.

Alternatively, the freehold asset can also be seen as an attractive investment opportunity for family offices seeking long-term growth, as well as owner-occupiers looking to establish a corporate presence. According to JLL, the property is also likely to appeal to developers, given the absence of additional buyer’s stamp duty, which can impact project timelines.

Ching Shine Industrial Building is conveniently accessible via major expressways such as the PIE, CTE and KPE. It is also within walking distance from Tai Seng MRT Station on the Circle Line. The property is located in the Tai Seng Industrial estate, near food factories such as Breadtalk IHQ, Sakae Building, and Food Empire Building, as well as amenities like Grantral Mall @ Macpherson and 18 Tai Seng.

Recently, Noel Building, a freehold Business 1 industrial building at 50 Playfair Road, was sold en bloc for $81.18 million in November 2023, which was 17% above its $70 million guide price. JLL’s senior director of capital markets, Nicholas Ng, believes that this transaction highlights the strong demand for such assets in the area and expects a similarly competitive response for Ching Shine Industrial Building.

The tender for Ching Shine Industrial Building will close on April 3 at 3pm.…

City Developments Limited (CDL) has released a statement explaining the trading halt earlier this morning. According to the statement, the halt was due to a disagreement within the board regarding the composition and constitution of the board and its committees. Despite the suspension, CDL reassures that its business operations remain fully functional and unaffected.

Sherman Kwek will continue to serve as group CEO until a board resolution is made to change company leadership. The company will make further announcements in accordance with Singapore Exchange (SGX) listing rules as the matter is currently under review.

Investing in a Condo in Singapore offers a multitude of benefits, making it a wise investment choice. The city-state’s thriving economy and stable political climate contribute to a high demand for condos, making it a profitable venture for investors. Additionally, the potential for capital appreciation and attractive rental yields adds further appeal to the investment.

Of course, before diving into the world of condominium investment in Singapore, it’s crucial to consider various factors. Location plays a significant role in determining the success of the investment, as well as financing options, government regulations, and market conditions. Conducting thorough research and seeking professional advice can help investors make informed decisions and maximize their returns in Singapore’s dynamic real estate market.

Whether you’re a local investor looking to diversify your portfolio or a foreign buyer seeking a stable and profitable investment, condos in Singapore offer a compelling opportunity. With careful consideration and the right approach, investors can tap into the city-state’s thriving real estate market and reap the rewards in the long run. So, if you’re looking to make a smart and lucrative investment in Singapore, considering a condo could be an excellent choice.

In a later statement, Sherman Kwek expressed disappointment in the chairman and a minority of the CDL board for their extreme actions regarding the disagreement. He clarified that the focus of the CEO and majority of the board has always been to improve governance, with guidance and support from the company and independent legal counsel.

The trading suspension earlier today was a result of this issue being brought before the courts, despite not being authorized by the majority of the board. Sherman Kwek emphasized that the matter is not about removing the chairman, but rather about strengthening the board and ensuring the highest standards of governance for CDL.

Understanding the regulations and limitations of property ownership in Singapore is crucial for foreign investors. When it comes to condos, foreign buyers generally face fewer restrictions compared to landed properties with stricter ownership regulations. However, foreign investors need to be aware of the Additional Buyer’s Stamp Duty (ABSD) of 20% imposed on their first property purchase. Despite this additional cost, the stable and promising growth of the Singapore real estate market remains a strong draw for foreign investment. This can be seen in the continued interest of foreign buyers in Singapore Projects.

CDL announced its FY2020 results on Feb 26, but cancelled its 10am results briefing. The company also offered to privatize Millennium & Copthorne Hotels New Zealand for $1.72 per share. Shares in CDL last traded at $5.12.…

In recent times, the demand for condominiums in Singapore has been on the rise, primarily due to the limited availability of land. As a small island country experiencing population growth, Singapore faces challenges in finding suitable land for development. As a result, the government has implemented strict land use regulations, and the real estate market has become extremely competitive, driving property prices to soaring heights. As a result, investing in real estate, particularly in the form of condos, has become a lucrative option with potential for significant appreciation in value. The continuous influx of new condo launches has further fueled the demand for condos in Singapore, making it a sought-after investment opportunity. New Condo Launches continue to attract a strong demand in the Singapore market.

PropNex, Singapore’s biggest real estate agency, announced a decrease of 14.9% y-o-y in its earnings for its second half of the 2024 financial year, which ended on Dec 31, 2024, bringing its full-year earnings to $40.9 million, a 14.4% decline from the preceding financial year, FY2023.

The company’s revenue also saw a dip of 6.6% in FY2024 compared to FY2023, mainly due to the relatively subdued property market. However, in celebration of its 25th anniversary, PropNex plans to pay a special dividend of 2.5 cents per share, in addition to a final dividend of 3 cents, bringing its total dividend payout for FY2024 to a record high of 7.75 cents. This represents a payout ratio of 140.1% and a yield of 8.2%.

Investing in a condo in Singapore offers a plethora of advantages that make it a desirable option for prospective investors. Some of these benefits include high demand, potential for capital appreciation, and attractive rental yields. However, before diving into this market, it is crucial to thoroughly consider several factors such as location, financing options, government regulations, and market conditions. By conducting extensive research and seeking professional advice, investors can make well-informed decisions and maximize their returns in Singapore’s dynamic real estate industry. Whether you are a local investor looking to diversify your portfolio or a foreign buyer seeking a stable and profitable investment, condos in Singapore present a compelling opportunity that cannot be ignored.

Despite the decrease in earnings for the year, Propnex observed an increase in activities in the last quarter of 2024, driven by a surge in new private home units that the company helped to sell.

To note, DBS has upgraded PropNex and APAC Realty to a “buy” rating, citing a strong pipeline of new launches in 2025. PropNex explains that the financial impact of these sales will only be reflected three to four months later, implying a substantial increase in its current 1HFY2025 numbers.

“Considering this, along with the positive outlook for the property market in 2025, the company is confident of delivering a strong performance in FY2025, barring any unforeseen events,” states PropNex.

This is supported by an estimated 13,000 new unit launches (including ECs), which is almost double the number of units launched in 2024. The private resale market is expected to remain active, with transaction volumes projected to range between 14,000 and 15,000 units.

Demand for private resale properties will be fueled by the persistent price differential between new and non-landed properties, a preference for larger, move-in-ready homes, and the impact of lower new supply completions, according to PropNex.

The company also predicts a 5% to 7% price increase in the HDB resale market, with transaction volumes reaching 29,000 to 30,000 units. “The HDB resale market will see continued growth as a result of the lower number of five-year minimum occupation period flats entering the market, coupled with sustained demand from urgent homebuyers, unsuccessful Build-To-Order applicants, and budget-conscious families,” says PropNex CEO, Ismail Gafoor.

Ismail notes that newly-launched projects like The Orie, Bagnall Haus, Parktown Residence, and ELTA have sparked strong interest in the market. He adds, “We anticipate a favorable demand for developers’ sales in 2025, with an exciting lineup of projects. Additionally, a positive economic outlook and lower mortgage rates could further enhance market confidence, creating opportunities for both homebuyers and investors.”…

A charming two-storey shophouse with an attic situated at 209 Jalan Besar is currently up for sale through private treaty. According to Gracelynn Zhu from PropNex Shophouse Elites, the property is priced at “under $20 million” for its 999-year leasehold tenure.

The shophouse boasts a spacious area of approximately 5,502 sq ft and is designated for commercial usage. The ground floor is approved for use as a restaurant, while a section of the second floor also holds the same permit. At a price of $20 million, the per square foot rate equates to $3,635 based on the floor space.

Assessing the potential rental yield is a crucial aspect to consider when investing in a condo. This refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, the rental yields of condos can vary greatly depending on various factors such as location, property condition, and market demand. For instance, areas near business districts or educational institutions tend to have higher rental demand, resulting in better rental yields. To gain a better understanding of a specific condo’s rental potential, it is essential to conduct thorough market research and seek advice from real estate agents. Additionally, checking out new condo launches can also provide valuable insights into the rental prospects of a condo.

Zhu adds that the shophouse is currently undergoing asset enhancement initiatives (AEI) which includes the installation of micro piles extending up to 30 meters to reinforce the structural foundation of the building. The AEI is projected to be completed by the end of this year.

The property is situated in the Desker Road Conservation Area in District 8, in close proximity to Little India. The Jalan Besar MRT Station, on the Downtown Line, is easily accessible on foot.

Investing in a condo comes with its advantages, one of which is the opportunity to leverage the property’s value for future investments. A common tactic among investors is utilizing their condos as collateral to secure extra funding for new investments. This not only helps in diversifying their real estate portfolio but also has the potential to boost returns. However, it is important to note that this strategy carries risks and it is essential to have a solid financial plan in place. It’s also crucial to consider the potential impact of market fluctuations when using a condo as leverage for further investments. With a strong financial strategy in place, a Condo can serve as a valuable asset in an investor’s portfolio.

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A 14 million dollar shophouse on Geylang Road and a shop unit in Bras Basah Complex are also currently up for sale.

The Chinatown Business Association plans to revitalize Smith Street with a mix of modern and traditional lifestyle concepts.

In 2024, the shophouse market ended on a quiet note with 84 transactions recorded.…

CBRE survey predicts robust investment activity in Apac hotel sector by 2025

According to a recent CBRE survey, the Asia Pacific (Apac) hotel sector is expected to experience continued investment activity in the year 2025. The consultancy’s 2025 Asia Pacific Hotel Investor Intentions Survey revealed that over 72% of hotel investors surveyed in November and December of last year are planning to acquire more hotel assets in the coming year. Additionally, around 45% of respondents indicated their intention to increase their purchasing volume by over 10%.

Steve Carroll, Head of Hotels, Capital Markets, Asia Pacific at CBRE, stated that after performing well in the past 18 months, investors are anticipating optimistic pricing expectations for hotel and living assets in Apac in 2025. The survey found that the rebound in tourist arrivals, particularly in countries such as Japan, Singapore, and Australia, has played a crucial role in driving this growth. Carroll added that the increase in international arrivals from key markets has resulted in a rise in hotel room rates in Apac, leading to higher income growth for hotel operators.

Investing in a condominium in Singapore has become a highly sought-after option for both locals and foreigners, thanks to the country’s strong economy, stable political climate, and exceptional quality of life. With its bustling real estate market, Singapore presents a multitude of opportunities for investors, and condominiums are particularly attractive for their convenience, amenities, and potential for lucrative returns. In this article, we will delve into the advantages of investing in a condo in Singapore, important considerations to keep in mind, and the necessary steps to take. Additionally, be sure to keep an eye out for exciting new condo launches that may further enhance your investment opportunities in the city-state.

The survey also found that investors are encouraged by the limited hotel supply in Apac. According to data from hospitality data intelligence group STR, the hotel supply pipeline in Apac is expected to grow at a Compound Annual Growth Rate (CAGR) of 2.2% between 2024 and 2028, which is significantly lower than the 5% CAGR observed between 2013 and 2023.

The breakdown of investment intentions by investor type indicated that Real Estate Investment Trusts (REITs) had the highest net buying intentions at 22%. This is in stark contrast to the -13% recorded in last year’s survey. The report stated that after several years of net negative investment intentions, REITs are now looking to buy more assets in the coming year. Institutional investors registered the second-highest net buying intentions at 12%, followed closely by property funds at 10%. CBRE noted that private equity and real estate funds for hotels showed increased activity in 2024 and this momentum is expected to continue in 2025.

However, the survey also revealed that private investors and high-net-worth individuals are likely to drive fewer hotel acquisitions this year. The report stated that after being the most active buyer type in the region for the last two years, private investors are now looking to capitalize on improving market sentiment after acquiring assets during a period of price dislocation. This has resulted in a greater level of selling activity in 2025.

The survey also showed that the most favored investment strategy for 2025 is value-add. CBRE observed that in select markets, assets are being repriced to the point where investors believe they can achieve value-add returns by acquiring assets that reflect core risk profiles. As a result, the upscale and upper midscale hotel categories emerged as the most attractive asset type for investment this year, overtaking the upper upscale category that topped last year’s survey.

According to the report, this shift in preference is due to the operational flexibility and increased potential for value-added opportunities provided by the upscale and upper midscale segment. These include the redevelopment, adaptive reuse, and rebranding of existing properties, which offer a more cost-effective alternative to new developments. The segment also has a leaner labor pool compared to higher-tier assets, resulting in reduced labor and cost pressures.

The survey also highlighted the increasing popularity of long-stay or hybrid hospitality models among investors, with growing demand for converting assets into co-living spaces. It is expected that this trend will continue to gain traction in countries like Japan, Hong Kong, and Singapore, where there is a demand for cost-effective accommodation in relatively inflexible rental markets.

Other emerging trends include a greater preference for assets with vacant possession at the time of acquisition, allowing for flexibility in terms of operator selection and refurbishment works. Limited-service hotels also saw higher interest from respondents, as investors continue to focus on minimizing operational costs.

Investing in a condominium in Singapore has emerged as a favored option for both domestic and international investors, drawn by the country’s thriving economy, steady political climate, and superior quality of life. The real estate market in Singapore presents a wide range of possibilities, with condos being particularly attractive due to their convenience, amenities, and potential for lucrative gains. In this article, we will delve into the advantages, factors to consider, and necessary steps to take when investing in a condo in Singapore. Furthermore, to stay updated on the latest condo launches, be sure to check out New Condo Launches.

Tokyo retained its position as the most preferred city among hotel investors, supported by low interest rates and stable income streams generated by hotel properties. Osaka also made it to the top five cities for similar reasons. Singapore and Sydney also ranked high, with CBRE attributing it to solid hotel fundamentals, including growth in daily rates and underlying operating profits. Seoul also stood out, as there has been an increase in visitors from mainland China in recent years, resulting in a surge in daily rates and a subsequent uptick in investor activity in the last few months.…

A major advantage of investing in a Singapore Condo is the opportunity to utilize its value for further investments. This is a popular approach among investors who choose to use their condos as collateral in order to secure additional financing for new investments, leading to an expansion of their real estate portfolio. However, while this strategy can potentially increase returns, it is important to have a solid financial plan in place and carefully consider the potential impact of market fluctuations.

On February 24, ETC, now known as Edmund Tie, and OrangeTee Group announced their plans to merge and form a new holding company. The name of the new company has not been revealed yet.

“The merger is not an acquisition, but a coming together of two like-minded companies,” says ETC’s CEO, Desmond Sim. He will continue as the group CEO of the merged entity, while OrangeTee & Tie’s current CEO, Justin Quek, will serve as the deputy group CEO.

After the merger, ETC will focus on providing consultancy and advisory services, while OrangeTee will concentrate on its proptech and real estate agency business. This will be supported by their network of 2,803 salespersons registered with the Council for Estate Agencies (CEA) as of February 24.

One crucial factor to keep in mind when considering investing in condominiums in Singapore is the government’s implementation of property cooling measures. These measures have been put in place over the years to control speculative buying and maintain a steady real estate market. A notable example is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may have a short-term impact on the profitability of condo investments, they ultimately contribute to the long-term stability of the market, providing a secure environment for investors. Additionally, with new condo launches in the market, opportunities for profitable investments continue to arise.

The combined entity will have a staff of over 520 in addition to the 2,803 salespersons. “By combining our expertise, resources, and networks, we can drive growth and create value for all stakeholders, allowing us to thrive in today’s dynamic real estate industry,” says Sim.

This merger builds on the successful joint venture in August 2017, where ETC and OrangeTee merged their associates’ business under a new entity, OrangeTee & Tie. With a sales force of over 4,000 agents, this propelled OrangeTee & Tie to the third spot among the top three agencies. After the joint venture, the former Edmund Tie acquired a 20% stake in OrangeTee & Tie.

Triplestar Holdings and TH Investments, both related to the family of Tat Hong Holdings’ managing director and group CEO, Roland Ng, facilitated the merger between ETC and OrangeTee. They acquired a stake in ETC after a management buyout in 2016. When the original shareholders, including Edmund Tie, retired, the company bought back their shares, increasing Triplestar and TH Investments’ stake to about 60%. Today, they own the entire 100% stake in ETC.

This year marks ETC’s 30th anniversary, making it a significant milestone for the company, according to Sim. In line with this, the company rebranded itself as ETC.

OrangeTee Group was incorporated in 2000 and is celebrating its 25th anniversary this year. It is an investment holding company led by the board of directors with support from the C-suite, including Justin Quek, CEO of OrangeTee & Tie; Marcus Oh, managing director of OrangeTee Advisory; Teo Yak Huat, CFO; and Christine Sun, chief researcher and strategist.

“With a strengthened brokerage and consultancy team, along with advanced proptech, we can scale our capabilities and provide innovative and seamless solutions for all real estate sectors,” says Quek.

Stakeholders in OrangeTee Group include Tokyu Livable Inc., which acquired a 22.5% stake in the company in 2014. It is one of Japan’s largest real estate agencies, with 198 offices nationwide, and is a subsidiary of the giant conglomerate, Tokyu Group’s real estate business, Tokyu Fudosan Holdings.

Private property fund, Vogue Capital Group, is also a shareholder of OrangeTee Group. Both Tokyu Livable and Vogue Capital will have a stake in the new holding company, along with Ng’s Triplestar Holdings and TH Investments.

Last year, ETC expanded to Johor Bahru through their joint venture in Malaysia, Nawawi Tie. The company also has a presence in Penang and Malaysia, as well as an associate in Thailand, Edmund Tie & Co (Thailand).

“We are confident that this merger will bring about more opportunities for us in the ASEAN region and Japan, especially through our partnership with Tokyu Livable,” adds Sim.

In the third quarter of 2024, private residential resale prices remained steady.…

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Securing financing for a Condo is a crucial factor in the investment process. In Singapore, there are various mortgage choices available, but it is imperative to have an understanding of the Total Debt Servicing Ratio (TDSR) framework. This framework restricts the amount of loan a borrower can obtain based on their income and current debt responsibilities. To make well-informed financing decisions and prevent excessive borrowing, it is crucial for investors to comprehend the TDSR and seek guidance from financial advisors or mortgage brokers. Additionally, seeking advice from experts such as Condo specialists can also aid in making sound financing choices.

UOL Group and CapitaLand Development (CLD) have announced that the launch of ParkTown Residence in Tampines North was a huge success, with 1,041 units sold during the launch weekend. This accounts for over 87% of the total 1,193 units available.

According to Anson Lim, UOL’s general manager of residential marketing, the project achieved an average price of $2,360 psf. The majority of buyers were either Singaporean homebuyers or investors.

The most popular unit types at ParkTown Residence were the two-bedroom and three-bedroom apartments, which make up 994 units (83%) of the project. These units were highly sought after, with 92% of them being snapped up during the launch weekend.

“Buyers were drawn to ParkTown Residence’s unique status as a fully integrated residential and lifestyle development, directly connected to a retail mall, the future Tampines North MRT station, a bus interchange, a green boulevard, a community club and a hawker centre,” says a spokesperson for UOL and CLD.

Prior to the launch weekend, ParkTown Residence had already received 2,367 cheques, which translates to a sales conversion rate of 44%. This is well above the average of 30% to 35% for most new project launches in recent years.

According to Mark Yip, CEO of Huttons Asia, the last mega project to achieve such impressive sales numbers was the 1,399-unit High Park Residences in July 2016, which sold 1,100 units over three days.

ParkTown Residence at Tampines 62 is part of the first mixed-use development integrated with transport hub at Tampines (Source: EdgeProp Landlens)

The last project to sell more units over a launch weekend was the Emerald of Katong, which sold 835 units (99%) in November 2020. Ismail Gafoor, CEO of PropNex, notes that ParkTown Residence has surpassed the take-up rates of previous integrated developments.

When considering investing in a Singapore Condo, it is crucial to take into account the government’s property cooling measures. In order to maintain a stable real estate market and discourage speculative buying, the Singaporean government has implemented various measures over the years. One of these measures is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. Although these measures may affect the immediate profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a safer environment for investment.

The most recent integrated project, The Reserve Residences, launched in May 2023 and recorded a 71% take-up rate during its launch weekend. As of Feb 23, the project remains 98.2% sold at an average price of $2,484 psf based on caveats lodged.

Marcus Chu, CEO of ERA Singapore, explains that mixed-use developments integrated with transport hubs are popular with homebuyers and investors due to their potential for capital growth and high rentability.

The last two fully integrated developments to be completed were the 920-unit North Park Residences in Yishun (launched in 2015) and the 680-unit Sengkang Grand in Buangkok (launched in 2019). According to Chu, the average price of North Park Residence is $1,809 psf, which is 65% higher than the average resale prices of residential units in District 27. Meanwhile, Sengkang Grand commands an average price of $2,029 psf, 25% higher than the average resale prices in District 19.

ParkTown Residence is located at Tampines Street 62, which is the third largest HDB town after Hougang and Woodlands. “Quite a number of buyers were HDB upgraders who desired to stay in Tampines,” says Huttons’ Yip.

The completion of ParkTown Residence in 2030 coincides with the scheduled opening of the Tampines North MRT Station on the Cross Island Line (CRL), a major arterial line running from East to West of Singapore. Ken Low, managing partner of SRI, also notes that the neighbouring Paya Lebar Airbase is scheduled to be relocated in 2030, freeing up an estimated 800ha of land for future developments.

Under the URA Master Plan, three more government land sales (GLS) sites will be linked to the upcoming Tampines North MRT Station. “However, these new projects could potentially be launched at higher prices,” says Low.

Tampines will also see new infrastructure developments by 2027, including a cycling bridge, an underpass, and another 7.7km of cycling paths. There will also be a new pedestrian route between Tampines MRT Station and the malls in the regional centre. These additions were announced on Feb 22, as part of the Tampines Town Council’s five-year masterplan for 2025 to 2030.

“All these will enhance the liveability in Tampines, which already has strong attributes,” says SRI’s Low.…

MCL Land and CSC Land Group recently announced the successful sale of 326 units out of 501 at their joint venture project, Elta, on Clementi Avenue 1. This translates to a sales rate of around 65%, with an average price of $2,537 per square foot.

The majority of buyers were Singaporeans, making up 90% of the purchasers, while the remaining 10% were permanent residents. The highest number of buyers came from districts 19, 5, and 23, which cover areas such as Hougang, Serangoon, Sengkang, Punggol, Buona Vista, Clementi, Dover, Bukit Batok, Bukit Panjang, Choa Chu Kang, Hillview, and Dairy Farm.

Among the units sold, the two-bedroom apartments were the most popular, with 98% of the 179 units sold at an average price of $1.388 million ($2,261 psf). The three-bedroom units also saw strong demand, with 81% of the 108 units being sold at a starting price of $2.198 million. The one-bedroom plus study units were also in high demand, with 78% of them being snapped up at $1.158 million.

According to Ismail Gafoor, CEO of PropNex, more than 60% of the units sold were in the one- and two-bedroom categories, with prices below $2.2 million. He also noted that the robust sales reflect buyers’ confidence in Elta, which offers a perfect blend of modern living, convenience, and comfort. MCL Land CEO Lee Tong Voon also expressed his satisfaction with the sales numbers, stating that the strong response from buyers shows their trust in the development.

Elta is the last of three private condos to be launched on government land sales (GLS) sites on Clementi Avenue 1. The first two were The Clement Canopy with 505 units and Clavon with 640 units, both developed by UOL Group and Singapore Land Group. According to Ken Low, managing partner of SRI, there are no more development plots available in the Clementi town centre, contributing to the strong sales numbers at Elta.

One of the main reasons for the high demand for Elta is the track record of the previous projects on Clementi Avenue 1. Based on caveats lodged, the average selling price of The Clement Canopy has increased by 45% since its launch in 2017, while the average selling price at Clavon has risen by 27% since its debut in 2020.

Elta is located near various employment hubs, such as the National University of Singapore (NUS), one-north, Pandan Loop Industrial Estate, the Science Park, Jurong Lake District, and the future Dover Knowledge District. In addition, it is also conveniently situated near Clementi MRT Station on the East-West Line and the upcoming Cross Island Line. Mark Yip, CEO of Huttons Asia, believes that the new MRT line will enhance connectivity in Clementi and potentially increase the quality of tenants for Elta.

Huttons’ Data Analytics estimates that the most significant group of Elta buyers came from the HDB upgraders in Clementi and Queenstown. With over 2,500 HDB units reaching their Minimum Occupation Period (MOP) this year and another 1,100 units doing so in 2025, this will continue to drive demand for private properties in the area.

Investing in a Singapore condo requires careful consideration of not just the property itself, but also its maintenance and management. Due to the shared ownership and facilities in condos, there are usually maintenance fees to cover the upkeep of common areas. While this may increase the overall cost of ownership, it is a necessary expense to ensure that the property remains well-maintained and retains its value. To make things easier for investors, it is beneficial to engage a property management company to handle the day-to-day management of the condo. This allows for a more passive investment as the management company takes care of the property on behalf of the owner.

Elta is also situated near several nature parks, including Clementi Woods Park, West Coast Park, and Kent Ridge Park, providing residents with easy access to green spaces. ERA Singapore CEO Marcus Chu notes that these factors, combined with Clementi’s excellent connectivity and amenities, make it an attractive destination for both homeowners and investors.

It is crucial for international investors to familiarize themselves with the regulations and limitations surrounding property ownership in Singapore. The purchase of condos is generally accessible to foreigners with minimal restrictions, unlike landed properties which have stricter ownership guidelines. However, foreign buyers are obligated to pay the Additional Buyer’s Stamp Duty (ABSD), currently set at 20%, for their initial property acquisition. Nonetheless, the reliable stability and promising growth potential of the Singapore real estate market continue to entice foreign investment. If you are interested in investing in Singapore, consider browsing listings for a Singapore Condo.

The first weekend of the project’s launch saw the simultaneous launch of another project, ParkTown Residence, which sold 1,041 units out of 1,093 units. Together, Elta and ParkTown Residence sold more than 1,300 units, surpassing the total number of new homes sold in January. This strong sales momentum from the end of 2024 has continued into the new year, and PropNex’s Gafoor expects the primary market to remain active in 2025.

Huttons Data Analytics estimates that developer sales in February will exceed 1,500 units, with a total of between 2,500 and 2,700 units being sold in the first two months of 2025. This is equivalent to 39% of the total new sales in 2024, leading Huttons to revise its full-year projection for 2025 to between 7,500 and 8,500 units. They also predict a price growth of between 4% and 7% for the year.…