Month: December 2024

Newly Launched Condos in 2024 Dominated by RCR and OCR

According to Mark Yip, CEO of Huttons Asia, projects in the Rest of Central Region (RCR) and Outside Central Region (OCR) were the top-performing new launches in 2024. Upgrader demand, backed by a strong HDB resale market, was the main catalyst for sales in these two regions. Three out of the top 10 best-selling projects were launched in November, indicating the sustained momentum in the market.

Emerald of Katong, a 846-unit, 99-year leasehold development, occupies the top spot, having sold 99% of its units within two days of its launch on November 15th and 16th. Currently, it has only six available units as of December 17th. Interested buyers can find out more about the latest new launches and available units by searching online.

The second spot belongs to Chuan Park, a 916-unit project which sold 696 units (76%) in a single day on November 10th. As of December 17th, the project is now 79% sold. The project’s excellent sales performance is attributed to the lack of new private condo launches in the neighbourhood since The Scala in 2010.

Lentor Mansion, a 533-unit development, takes third place with an impressive 75% sales achieved during its launch weekend in March. Nine months later, the project has sold 92% of its units.

Nava Grove, a 552-unit project, ranks fourth after achieving a 65% take-up rate during its launch weekend in mid-November. As of December 17th, the project was almost 70% sold.

In fifth place is Norwood Grand, a 348-unit project that has sold 84% of its units since its launch in October. Hillhaven, a 341-unit development, takes sixth place with 259 units (76%) sold as of December 17th. The project was one of the first to debut in 2024 and has gathered momentum since its launch in January.

Kassia on Flora Drive, a 276-unit freehold development, has sold 180 units (65%) to date, making it the seventh best-selling project.

Lentoria, a 267-unit project located in Lentor Hills Estate, ranks eighth with 177 units (66%) sold since its launch in March.

To summarize, purchasing a condo in Singapore offers a multitude of benefits, such as high demand, potential for growth in value, and appealing rental yields. However, it is crucial to carefully assess various factors including location, financing options, governmental regulations, and market conditions. Through thorough research and seeking professional guidance, individuals can make well-informed decisions and maximize their profits in Singapore’s ever-changing real estate industry. Whether you are a local investor seeking to diversify your investments or a foreign buyer looking for a stable and lucrative opportunity, condos in Singapore offer a compelling investment opportunity.

Sora, a 440-unit development in Jurong Lake District, achieved 134 sales (30%) and comes in ninth. Rounding out the top 10 is Meyer Blue, a freehold project that sold 131 units (58%) of its 226 units through private sales.

Four projects launched in 2023 also gained significant traction in the second half of 2024, selling more than 200 units each. These projects benefited from the launch of new developments in their respective neighbourhoods, which helped generate interest in the area.

The Continuum, an 816-unit freehold development at Thiam Siew Avenue, was the biggest beneficiary of Emerald of Katong’s launch. In 2024, the project sold 233 units, with almost 60% of the sales occurring since November. This brought The Continuum’s cumulative take-up rate to 66% since its launch in May 2023.

Similarly, Tembusu Grand, located across the road from Emerald of Katong, benefited from its proximity to the development. The 638-unit project sold 53% of its units during its launch weekend in April 2023. It moved 204 units this year, with most sold after July when market sentiment improved in the third quarter of 2024. As of December 17th, Tembusu Grand is 91% sold, bolstered by the buzz around Emerald of Katong.

Hillock Green, a 474-unit project located in Lentor Hills Estate, also performed well. It achieved a take-up rate of 27.6% during its first weekend of sales in November 2023. This year, Hillock Green sold 217 units, bringing its cumulative sales to 359 (76%). The project benefited from the launches of both Lentoria and Lentor Mansion in March, which brought renewed attention to the Lentor Hills Estate.

Lastly, the 520-unit Pinetree Hill experienced strong sales following the release of its second phase of units in September. In 2024, the project sold 208 units, bringing cumulative sales to 374 (72%). Pinetree Hill also saw a boost from the nearby launch of Nava Grove in November, which helped drive interest to the District 21 residential enclave.…

By the time 2025 arrives, Singapore is set to undergo significant changes in its built environment. The sector of facilities management (FM) is facing the challenge of adapting to changing regulations, cost constraints, and technological advancements. Three key factors will shape the future of FM, and work towards promoting sustainability: the mandatory energy improvement regime, the impact of rising temperatures on energy costs, and the growing trend towards adaptive reuse in construction.

The upcoming Mandatory Energy Improvement regime, effective from 3Q2025, will require existing energy-intensive buildings to undergo energy audits and implement energy-efficient measures. This mandatory requirement applies to commercial, healthcare, institutional, civic, community, and educational buildings with a gross floor area of more than 5,000 sq m. The objective is to reduce energy usage intensity by 10% from pre-energy audit levels. This goal can be achieved by implementing appropriate strategies.

In order to make successful investments in energy-efficient systems, it is crucial for asset owners to take a medium to long-term view on capital expenditure-heavy investments. The energy audits will provide valuable insights into energy consumption patterns, identify performance gaps, and guide asset owners on strategies to prolong the lifespan of their assets, lower operating costs in the long run, and contribute to a sustainable built environment. Building owners can also utilize grants to cover the costs of energy efficiency upgrades.

Temasek Polytechnic, Singapore’s first smart campus, embarked on a digitization project in 2021 with the aim of achieving a sustainable future. This experience offers valuable insights into the future of smart and sustainable facilities management. The heart of Temasek Polytechnic’s smart campus is a suite of solutions that digitize campus operations, such as facility booking, automating repair and maintenance work orders, crowd management, and temperature control measures. These systems are integrated into a common data environment, generating data that is visualized, tracked, and monitored at a control center on campus. This helps campus operations teams make informed decisions to maintain the health of building operational systems and maximize the return on investment in these assets while reducing operational carbon levels.

Another factor that will drive the sustainability of FM is the obligation for climate disclosures for all listed and large non-listed companies with revenues of at least $1 billion and total assets of at least $500 million by 2027.

Rising temperatures and energy costs will also lead to more investments in predictive technology. Air conditioning and mechanical ventilation (ACMV) systems are already a major contributor to operational costs, accounting for approximately 60% of total energy expenses in many buildings. Optimizing energy systems is crucial in mitigating rising energy costs. Building owners can achieve this by implementing energy-efficient solutions such as energy recovery systems or thermal energy storage. Furthermore, optimizing chiller plant operations to match changing weather conditions reduces energy wastage and costs.

At a larger scale, extreme weather events such as flooding and urban heat can have a drastic impact on the health and performance of critical infrastructure like drainage and plumbing systems, which are essential for the smooth functioning of precincts. To mitigate these risks, building owners and city planners can leverage advanced web-based geospatial IT tools to identify flood-prone areas or heat-exposed spaces. This will help them develop a comprehensive operational plan that considers extreme weather predictions to mitigate the risk of equipment failure and downtime, as well as optimize chiller plant operations.

Adaptive reuse is a response to the increasing construction costs, leading to a shift towards this approach over the past five years in Singapore. Surbana Jurong (SJ) estimates that the costs for mechanical and electrical works have increased by approximately 30% compared to pre-Covid levels. This upward trend can be attributed to a 77% increase in logistic shipping costs, a 9% increase in labor costs, and a rise in construction material prices, such as copper (up 15%). This has caused a shortage of mechanical and electrical (M&E) contractors. As a result, there is a growing adoption of smart design and engineering practices, including the use of collaborative common data environments to benchmark construction and operational costs.

Platforms that support integrated digital delivery provide real estate developers and contractors with real-time data on key performance indicators such as time, cost, quality, and safety. One such platform is Podium, which aims to create a digital ecosystem that connects developers, designers, and the supply chain to deliver high construction productivity and promote sustainable building practices. By consolidating data from multiple sources, stakeholders across the various stages of the building cycle can access valuable information on design, civil and structural engineering plans, construction materials, and components to reduce embodied carbon levels. This data is critical when building owners need to decide whether to redevelop or reuse existing structures. By retaining structural walls, columns, beams, and slabs, they can save time, labor, and resources.

Post-construction, Podium can integrate with other operational platforms to track building performance metrics, including energy, waste, water, indoor air quality, and occupancy trends. This will help drive operational carbon reduction goals. The utility cost of ACMV chiller plants can quickly escalate post-construction, accounting for 60% of total operational expenditure. Smart buildings can offset these costs by maximizing the life cycle of capital-intensive equipment, such as ACMVs, lifts, and air handling units. This can be achieved through a data-driven, long-term life cycle approach that prioritizes energy savings to offset energy tariffs from capital expenditures. This investment in smart building infrastructure helps inform procurement, replacement, and retrofit programs to optimize the equipment’s efficiency, maximize returns, and ensure compliance with local and international regulations and sustainable financing requirements.

Sensors can be deployed to monitor and track the performance of each component in a piece of equipment. For example, sensors can analyze the vibrations in chiller equipment and identify signs of wear or impending failure. Similarly, thermographic testing with heat-sensing scanners and imaging equipment can detect abnormal temperatures or heat buildup in a system. AI-powered smart monitoring systems can also track various components of a building’s M&E system, providing granular details on their performance. This data enables asset owners to make informed decisions about parts that need to be replaced within a specific period, based on the type of defects and the frequency of breakdowns. With access to detailed data, building owners can evaluate various options, including retrofitting or replacing entire systems, which can be costly.

It is crucial for international investors to have a clear understanding of the regulations and limitations surrounding property ownership in Singapore. While foreigners are typically able to buy condominiums without many barriers, the same cannot be said for landed properties, which have stricter rules for ownership. Moreover, foreign buyers are required to pay the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for their first property purchase. However, the allure of Singapore’s stable and lucrative real estate market continues to draw foreign investment, making properties like Singapore Condos a highly sought-after option.

In conclusion, by embracing digitalization, data analytics, and sustainable practices, the FM sector in Singapore can promote sustainability, reduce costs, and ensure long-term operational success. The key is to adapt to regulatory demands, leverage technological advancements, and stay ahead of changing market conditions. This will enable the industry to drive towards a more sustainable built environment and achieve a greener, more resilient future.…

Investing in a condominium in Singapore has become a highly sought-after option among both locals and foreigners, thanks to the country’s strong economy, stable political climate, and excellent quality of life. The real estate market in Singapore is filled with promising prospects, but condos are particularly appealing for their convenience, facilities, and potential for profitable returns. This piece will delve into the advantages, factors to consider, and necessary steps to take when considering an investment in a condo in Singapore. In addition, it will also touch upon some of the latest Singapore Projects that are worth considering for investment.

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Freehold condo The Meyerise made headlines last week as it took the top spot among private condos that achieved a new psf-price high. The achievement was recorded during the week of Nov 29 to Dec 6, when a 1,270 sq ft, three-bedroom unit on the 24th floor was sold for $3.52 million. This translates to a new record of $2,771 psf, surpassing the project’s previous record of $2,764 psf. The former record was set last October when a 1,819 sq ft, four-bedroom unit on the 28th floor was sold for about $5.03 million.

The sellers of the unit sold on Dec 6 had purchased it for about $2.32 million ($1,830 psf) in May 2016. Therefore, they made a profit of about $1.2 million over eight years. The Meyerise has seen nine units change hands this year at an average price of $2,405 psf. By absolute price, the most expensive unit to sell at the development this year was a 2,056 sq ft, four-bedroom-plus-study unit on the seventh floor. It sold for $4.5 million ($2,189 psf) on Oct 7.

The Imperial, a 187-unit freehold condo located along Jalan Rumbia in prime District 9, took second place among projects that achieved new psf-price highs during the period of review. A 1,410 sq ft, three-bedroom unit on the 14th floor was sold for $3.7 million on Dec 5, setting a new top price of $2,624 psf. This amount exceeds the project’s previous price high of $2,566 psf by 2.3%, which was set in May last year when a 1,356 sq ft, three-bedroom unit on the 12th floor was sold for $3.48 million.

According to URA caveats, the unit sold on Dec 5 last changed hands in September 2004 when it was purchased for about $1.3 million, or $925 psf. Thus, the sellers made a profit of about $2.4 million. The Imperial has recorded six resale transactions this year to date, at an average price of $2,414 psf. The last unit to change hands at The Imperial was a 1,905 sq ft, four-bedroom unit on the fifth floor, which sold for about $4.6 million, or $2,421 psf, on Nov 28.

Lastly, Sky Vue placed third during the period of review, recording a new psf-price high of $2,505 psf. A 1,141 sq ft, three-bedroom unit on the 33rd floor fetched about $2.86 million on Dec 2, exceeding the previous record of $2,366 psf by 5.9%. This was set in August when a similar 1,141 sq ft, three-bedroom unit on the 14th floor was sold for $2.7 million.

Completed in 2016, the 694-unit Sky Vue is located along Bishan Street 15 in District 20. The 99-year leasehold condo comprises two 37-storey towers with one- to three-bedroom units occupying spaces between 484 sq ft and 1,259 sq ft. There were no new psf-price lows recorded during the period of review.

Home buyers are drawn to these projects due to their prime locations, near schools and MRT stations. It is no surprise then that these condos have seen units sold above their previous psf-price highs.…

JadeScape, a 99-year leasehold condominium located on Shunfu Road, made headlines during the week of Dec 3 to Dec 10 as the site of the most profitable condo resale transaction. The luxurious six-bedroom penthouse spanning 4,230 sq ft was sold on Dec 9 for a whopping $10.15 million, translating to a price per square foot of $2,399. This unit, situated on the 23rd floor, was originally purchased from the developer for $5.8 million ($1,371 psf) back in December 2014. The seller’s move to part with the unit five years later has resulted in a lucrative profit of $4.35 million, representing a capital gain of 75% or an annualised profit of 15%.

According to data from caveats lodged, this sale marks the largest profit ever achieved at JadeScape. The previous record was held by a five-bedroom unit measuring 2,099 sq ft on the 10th floor, which was sold for $4.42 million ($2,108 psf) on Aug 12. The seller, who had purchased the unit from the developer in September 2019 for $3.28 million ($1,562 psf), earned a profit of $1.14 million.

JadeScape, a seven-tower condo development with 1,206 units, is strategically located at the junction of Marymount Road and Shunfu Road in District 20. Completed in 2022, the development offers a range of unit types, from one- to five-bedroom apartments spanning 527 sq ft to 2,099 sq ft. It also boasts two penthouses measuring 4,230 sq ft. Its convenient location, within walking distance of Marymount MRT Station on the Circle Line, adds to its appeal.

Across the island, The Imperial condo in District 9 recorded the second most profitable resale deal during the same week. The sale of a three-bedroom unit measuring 1,410 sq ft on Dec 5 for $3.7 million ($2,624 psf) saw the seller reap a gain of $2.4 million. The seller had acquired the unit directly from the developer for $1.3 million ($925 psf) in September 2004, making this transaction a handsome 184% profit after 20 years.

This particular sale ranks fifth on the list of most profitable deals at The Imperial. The top spot is claimed by a four-bedroom unit spanning 3,918 sq ft, which was sold for $7.64 million ($1,950 psf) in June 2007. The seller, who had bought the unit for $3.99 million ($1,018 psf) a year earlier in March 2006, made a profit of $3.65 million.

The Imperial, a 187-unit freehold condo that was completed in 2006, is situated on Jalan Rumbia, near Fort Canning Park. It offers a range of unit types, from two- to four-bedroom apartments measuring between 980 sq ft and 3,918 sq ft. Its location, within walking distance of Fort Canning MRT Station on the Downtown Line as well as Dhoby Ghaut MRT Interchange, adds to its value.

On the other hand, the sale of a one-bedroom unit at The Montana condo in District 10 made headlines for being the least profitable deal during the week in question. The 635 sq ft unit was sold for $1.02 million ($1,603 psf) on Dec 6, resulting in a loss of approximately $165,000. The unit was last purchased in July 2014 for $1.18 million ($1,863 psf).

This deal also ranks third on the list of biggest losses at The Montana, based on available caveats. The top spot belongs to a three-bedroom unit measuring 1,109 sq ft, which was sold for $1 million ($902 psf) in May 2003. The seller, who had acquired the unit from the developer in December 1999 for $1.35 million ($1,215 psf), suffered a loss of about $347,000.

Investing in a condominium in Singapore has emerged as a favored option for both local and foreign investors, thanks to the country’s strong economy, stable political climate, and excellent quality of life. The real estate market in Singapore presents a wealth of options, with condos standing out for their convenience, amenities, and potential for attractive returns. With the recent new condo launches, the allure of investing in a condo in Singapore has only increased. In this article, we will delve into the advantages, factors to consider, and necessary steps to take when considering a condo investment in Singapore.

The Montana, a freehold condo completed in 2002, offers 108 units spread across a single 12-storey tower. Its units include one- to four-bedroom apartments measuring between 549 sq ft and 2,659 sq ft. Located on Jalan Mutiara off River Valley Road, the condo is within walking distance of Fort Canning MRT Station and Dhoby Ghaut MRT Interchange.…

.Since the article covers the proposal of CapitaLand Ascendas REIT (CLAR) acquiring DHL Indianapolis Logistics Center from Exel Inc. d/b/a DHL Supply Chain (DHL USA) for $150.3 million, it could be rewritten in the following way:CapitaLand Ascendas REIT (CLAR) has announced its plans to purchase DHL Indianapolis Logistics Center, a prominent Class A logistics property, from Exel Inc. d/b/a DHL Supply Chain (DHL USA) at a cost of $150.3 million. This price stands at a 4.1% discount to the independent market valuation of the property as of Jan 1, 2025. Once the transaction-related fees and expenses of $1.7 million and the $1.5 million acquisition fee paid to the manager are added, the total cost of the acquisition will amount to $153.4 million.

According to a press release issued on Dec 17, the manager aims to finance the entire acquisition cost through internal resources, divestment proceeds, and existing debt facilities. This move is expected to strengthen CLAR’s portfolio once the acquisition is finalized.

The long-term plan is for DHL USA to enter into a leaseback agreement till December 2035, encompassing the entire gross floor area (GFA) of the property, with options to extend for two additional five-year periods. This will provide income stability for CLAR’s portfolio, with the lease term lasting approximately 11 years and annual rent escalation of 3.5%.

Investing in a condo in Singapore brings a multitude of advantages. The country’s high demand for condos makes it an appealing option for investors. Additionally, there is potential for considerable capital appreciation, making it a lucrative investment. Apart from this, the attractive rental yields make owning a condo in Singapore a profitable venture. However, before making any investments, it is crucial to carefully consider several factors, including location, financing options, government regulations, and market conditions. Proper research and seeking professional advice are essential in making informed decisions and maximizing returns in Singapore’s dynamic real estate market. Whether you are 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.

As of now, the property is fully occupied and boasts a weighted average lease to expiry (WALE) of about 11 years. Its inclusion in CLAR’s portfolio will increase the US portfolio’s WALE from 4.2 years to 4.7 years on a pro forma basis. The first-year net property income (NPI) yield of the proposed acquisition is approximately 7.6% before transaction costs and 7.4% after transaction costs. The impact on the distribution per unit (DPU) for the financial year ending Dec 31, 2023, is expected to be an enhancement of roughly 0.019 Singapore cents or a DPU increment of 0.1%, assuming the acquisition is completed on Jan 1, 2023.

Located in Whiteland, a submarket in southeast Indianapolis, Indiana, the property was completed in 2022. Covering a vast area of 979,649 square feet, the property is a fully air-conditioned, single-story logistics building. Its addition to CLAR’s portfolio will increase the value of the US logistics assets under management (AUM) by 35.3% to an estimated $587.5 million. With this acquisition, CLAR’s logistics footprint in the US will expand to 20 properties spread across four cities, encompassing a total GFA of approximately 5.1 million square feet.

Besides the latest property in Indianapolis, CLAR also has logistics assets in Kansas City, Chicago, and Charleston in the US. According to the executive director and CEO of the manager, William Tay, “DHL Indianapolis Logistics Center is a perfect fit for our existing portfolio. This is CLAR’s first sale and leaseback acquisition in the US, and including this Class A logistics property, modern logistics assets will make up 42.3% of our US logistics assets under management. With the long lease in place, this property will further enhance CLAR’s resilient income stream, and we expect the two new properties to contribute positively to our long-term returns.”…

Wee Hur Holdings has recently announced a significant development in its business strategy, with the binding agreement to sell its portfolio of seven purpose-built student accommodation (PBSA) assets to Greystar. This deal, which was made public on December 16, marks a major milestone for the group as it looks to focus on its core business and expand into new areas.

The PBSA portfolio, which comprises over 5,500 beds across several Australian cities, will be sold for a purchase consideration of A$1.6 billion ($1.4 billion). As part of the transaction, Wee Hur will retain a 13% stake through its subsidiary, Wee Hur (Australia).

According to the group, the net proceeds from the sale, expected to be around $320 million, will be used to drive Wee Hur’s strategic growth and support its reinvestment in the core business. It will also help the group venture into new areas such as alternative investments.

The transaction is slated to be completed in the next six months, subject to Greystar obtaining approvals from the Foreign Investment Review Board (FIRB) and Wee Hur obtaining consent from its shareholders. Wee Hur believes that this deal is a testament to the group’s resilience in navigating complex market conditions, including the challenges posed by the Covid-19 pandemic and greenfield developments.

Having a thorough understanding of the regulations and limitations surrounding property ownership in Singapore is essential for foreign investors. Unlike landed properties, which have stricter ownership rules, foreigners can generally purchase condominiums without facing significant restrictions. However, they are still required to pay the Additional Buyer’s Stamp Duty (ABSD), currently set at 20%, for their initial property purchase. Despite this added cost, the stability and potential for growth in the Singapore real estate market remains a strong incentive for foreign investment. This is evident in the sustained interest of foreign investors in acquiring new condo launches in Singapore through New Condo Launches.

In addition to supporting Wee Hur’s long-term strategy, the transaction also demonstrates the group’s efforts to diversify its portfolio and position itself for sustainable growth in multiple sectors. Goh Wee Ping, CEO of Wee Hur Capital, commented, “In 2021/2022, amidst global uncertainty, we acted decisively to secure liquidity and certainty through our successful recap with RECO. Two years later, as the PBSA market rebounded and our portfolio approached full stabilisation, we capitalised on yet another opportunity to unlock maximum value for our stakeholders through this landmark transaction.”

The news of this sale has also had a positive impact on Wee Hur’s stock, with the company’s shares surging by 11% after the announcement. This move by Wee Hur comes after it previously ventured into various sectors such as residences, workers’ dormitories, and student housing. With this latest development, it seems that the group is well-positioned to continue its growth and success in the real estate industry.…

On December 16, joint venture developers Hoi Hup Realty and Sunway Developments successfully sold 137 units at Novo Place executive condominium (EC) during the second round of balloting. This phase was exclusively open to second-timers, which includes buyers who have previously purchased a subsidized flat, whether as a new or resale HDB flat or an EC.

According to Mark Yip, CEO of Huttons Asia, this recent sale brings the total number of units sold at Novo Place to 444, representing 88.1% of the development. This achievement was made within a month of the project’s launch on November 16, making it the best-selling EC project of 2024.

Yip also notes that this reflects a strong interest from second-timers who are eager to upgrade their lifestyle. He adds that a majority of the buyers are residents in the West. In fact, all four-bedroom units at Novo Place have been sold out, highlighting the high demand for spacious homes.

Located at Plantation Close in the new Tengah town and a five-minute walk from Tengah Park MRT station on the Jurong Region Line (JRL), Novo Place offers convenient access to major employment hubs in the West such as the Jurong Lake District and Jurong Innovation District. Yip emphasizes that very few ECs offer such close proximity to an MRT station.

In addition, many buyers have chosen the deferred payment scheme, which allows them to secure their desired unit first while deferring their home loan payments. According to Yip, this helps ease the financial burden for HDB upgraders who still have an outstanding loan on their current flat.

Yip also points out that ECs are experiencing strong demand from HDB upgraders due to their comparable quality and finishes to private condominiums, but at a more affordable price. Additionally, buyers can enjoy upfront remission on the Additional Buyer’s Stamp Duty (ABSD).

The scarcity of land in Singapore is a major driving force behind the high demand for condos in the country. As a small island with a rapidly increasing population, Singapore struggles to find enough land for development. To combat this issue, strict land use policies have been put in place, creating a competitive real estate market where property prices remain consistently high. As a result, investing in real estate, especially in condos, has become a profitable option due to the potential for significant capital appreciation. Considering this, it is no surprise that Singapore condos are highly sought after by investors and homebuyers alike.

As of December 16, the average price of units sold at Novo Place is $1,656 psf based on caveats lodged. This makes it an attractive option for potential buyers. With its convenient location, quality finishes, and affordability, it’s no wonder that Novo Place is selling fast. Interested buyers should act quickly to secure their desired unit before they run out.…

In summary, opting to invest in a condominium in Singapore offers a multitude of benefits, including robust demand, potential for asset appreciation, and appealing rental yields. However, it is crucial to carefully evaluate key elements such as location, financing options, government regulations, and current market conditions. With thorough research and expert guidance, investors can make well-informed decisions and maximize their profits in the vibrant real estate market of Singapore. Whether you are a local investor seeking to broaden your investment portfolio or a foreign buyer looking for a secure and lucrative venture, the condominiums in Singapore, including those found on Singapore Projects, present a compelling opportunity.

The Urban Redevelopment Authority (URA) has reported that 2,557 new private homes were sold in November, not including executive condos (ECs). This represents a significant increase of 246.5% from October’s figure of 738 new private homes sold, and a 226% spike compared to units sold in November 2023. According to Christine Sun, chief researcher and strategist at OrangeTee Group, this surge marks the highest monthly developer sales since March 2013, when 2,793 units were sold (excluding ECs). Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors Inc (SRI), adds that this is also the first time since March 2013 that new home sales have exceeded the 2,000-unit threshold in a single month.The reason for this surge, according to Lee Sze Teck, senior director of data analytics at Huttons Asia, is the “unprecedented” number of project launches that have taken place during the month. Five private residential projects were launched in November, including the 916-unit Chuan Park, the 846-unit Emerald of Katong, the 552-unit Nava Grove, the 367-unit The Collective at One Sophia, and the 366-unit Union Square Residences. In total, developers launched 2,871 new homes (excluding ECs) in November, which is a 438% jump from the previous month and a 196% increase from the same period last year.In addition to these, the 504-unit Novo Place EC also commenced sales in November. Including ECs, new home sales in November witnessed a 277% increase from the previous month and a 226% surge from November 2023. As of November, developers have sold an estimated 6,344 units, which is slightly more than the 6,317 units sold in the first 11 months of 2023. This can be attributed to the fact that developers have launched 6,627 units for sale in the first 11 months of 2024. In comparison, developers launched 7,515 units during the same period last year.The best-selling project in November was the Emerald of Katong, which sold 840 units (99%) out of its 846 units, with a median price of $2,627 psf. This makes the 99-year leasehold development the top-selling project in 2024, both in terms of units sold and percentage. According to OrangeTee’s Sun, buyers were enticed by the project’s excellent design and location near the East Coast, and the lower interest rates have made mortgages more accessible.Kingsford Group’s 916-unit Chuan Park was the second best-selling project in November, with 721 units (79%) sold at a median price of $2,586 psf. Located on Lorong Chua, adjacent to Lorong Chuan MRT Station, the 99-year leasehold condo is in the Outside Central Region (OCR). Nava Grove, a 99-year leasehold development in Pine Grove in District 21, was the third best-selling project in November, with 382 units (69%) sold at a median price of $2,445 psf. The strong sales performance of these new launches can be attributed to pent-up demand and improved buyer sentiment following interest rate cuts in September, according to Sun.Based on the lack of new launches and the upcoming festive season, Huttons’ Lee predicts that new private home sales in December will likely fall to around 200 to 250 units. This would bring the total developer sales for the year to around 6,500 units, which is slightly more than in 2023. However, Lee forecasts a 5% price growth for the full year, which is lower than the 6.8% growth recorded in 2023.Going into 2025, Sandrasegeran expects new home sales to pick up again in January with the launch of the 777-unit The Orie by City Developments on Lorong 1 Toa Payoh. He believes that the gap since the last new launch in 2016 will generate pent-up demand for this well-established estate. Other launches expected in the first quarter of 2025 include the 113-unit Bagnall Haus, the 186-unit Aurea, and the 760-unit Aurelle of Tampines EC. Sun, however, believes that the recent surge in sales is a temporary phenomenon and projects a more subdued demand for new homes in the coming year. Meanwhile, Lee remains cautiously optimistic and projects a rebound in new private home sales to between 7,000 and 8,000 units in 2025, with price growth between 4% and 7%.…

One of the world’s top hospitality companies, Hilton, has recently celebrated the grand opening of their 100th Hilton Garden Inn property in Greater China. The new hotel, named Hilton Garden Inn Beihai Jiafu, is located in the bustling seaport city of Beihai and boasts 199 elegant rooms. Its strategic location places it just 2km away from Beihai High-Speed Railway Station and 6km from Beihai Fucheng Airport, and it’s only a short 20-minute drive to Beihai International Passenger Port.

Qian Jin, the president of Hilton Greater China and Mongolia, expressed excitement during the Dec 13 press release, stating, “The opening of Beihai Jiafu Hilton Garden Inn not only signifies our brand’s rapid growth, but also reaffirms our long-term dedication to the Chinese market.” Hilton first introduced this popular brand to China in 2014 with the launch of Hilton Garden Inn Shenzhen. Since then, the brand has expanded to other major cities including Shanghai, Beijing, Chengdu, Guilin, and Aksu. In the near future, Hilton Garden Inn will also be opening in popular tourist destinations such as Zhangjiajie, Ordos, Huangshan, Shanwei, and Jinan.

When it comes to investing in Singapore, it is crucial for international investors to have a clear understanding of the regulations and limitations surrounding property ownership. While foreigners can easily purchase condominiums, there are stricter ownership regulations in place for landed properties. Additionally, foreign buyers are also subjected to the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for their initial property acquisition. Despite these extra expenses, the stable and promising growth prospects of the Singapore real estate market continue to entice foreign investment. To explore potential investment opportunities, foreign buyers can also consider checking out the latest New Condo Launches.

Hilton’s ambitious plans for expansion in Greater China are not limited to just Hilton Garden Inn properties. They are also set to unveil a new prototype specifically designed for the Generation Alpha travelers in this region – the Hilton Garden Inn Gen A properties. These hotels will be launched in Nanjing, Chengdu, Chengde, and Jinan. Additionally, Hilton’s Senior Vice President of Development for Asia Pacific, Clarence Tan, has announced that over 200 Hilton Garden Inn properties are currently in development across the wider Asia Pacific region.

Hilton’s commitment to providing top-notch hospitality services in China has been unwavering, and the opening of their 100th Hilton Garden Inn property in this region only solidifies their position as a highly trusted and reputable brand. Guests can expect to experience the same exceptional service, modern amenities, and comfortable accommodations that Hilton Garden Inn is known for, in even more locations in the years to come.…

CapitaLand Investment Limited (CLI) has announced the acquisition of the property and corporate credit investment management business of Wingate Group Holdings for A$200 million ($173 million) with an additional earn-out.

This acquisition will add A$2.5 billion to CLI’s funds under management (FUM) in Australia, increasing its total FUM to $8.3 billion, which represents around 7% of its total FUM of $115 billion. The company has a target to reach $200 billion in FUM by 2028.

The acquisition is part of CLI’s commitment to invest up to A$1 billion to grow its FUM in Australia, a market it had divested from a decade ago to focus on faster-growing markets such as China and other overseas markets. This latest move is a reflection of CLI’s renewed focus and commitment to Australia.

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Investing in a Singapore condo comes with various factors to consider, and one of the most significant ones is the government’s property cooling measures. To maintain a stable real estate market, the Singaporean government has implemented several measures over the years to prevent speculative buying. These measures include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreigners and those purchasing more than one property. Although these measures may affect the short-term profitability of Singapore condo investments, they also contribute to the long-term stability of the market, creating a safer investment environment.

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Wingate is a leading and one of the largest private credit investment managers in Australia with a successful track record of completing more than 350 transactions worth over A$20 billion. CLI has already worked with Wingate in September to close the A$265 million Australia Credit Program (ACP).

CLI believes that Wingate will help to expand its proprietary deal origination networks, provide access to more institutional and high-net-worth investors, and increase its geographical exposure to Australia. Paul Tham, CLI’s group CFO, sees significant potential for growth in Australia and believes it is one of CLI’s focus markets as it accelerates its geographical diversification efforts.

CLI is also looking at other Asia Pacific markets for private credit opportunities, including South Korea, India, and Japan. The Australian private capital market has grown by 33% in the past 18 months, with assets under management reaching A$139 billion. There is forecasted to be a A$146 billion commercial mortgage funding gap by 2028.

With Wingate, CLI can further diversify its portfolio, which currently consists of logistics, business parks, offices, and lodging assets in nine cities in Australia. As of September, CLI manages 34 logistics properties and business parks and four Grade A office buildings in Australia. It also has over 13,500 lodging units across more than 150 properties under its wholly-owned lodging business unit, The Ascott.…