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In summary, the decision to invest in a condo in Singapore can bring about many benefits. These include a strong demand for properties, the potential for significant appreciation of capital, and impressive rental yields. However, it is crucial to carefully consider various factors such as location, financing options, government regulations, and current market conditions. By conducting thorough research and seeking expert guidance, investors can make well-informed choices and maximize their profits in the dynamic real estate industry of Singapore. For both local investors wanting to diversify their portfolios and foreign buyers seeking secure and profitable investments, the condo market in Singapore offers a highly attractive opportunity. To explore more investment opportunities, check out Singapore Projects.

Botanic Gardens GCB on land area 10,051 sq ft sold for S$23.25 milSingapore condo resale prices inch up in FebruaryRents for private non-landed homes up in Feb: Srx flash dataCBRE Singapore announces new chairman and CEO; to push ahead with gender diversityCautionary tale of Hong Kong: Is home ownership in a land-scarce city still a dream?Invaluable lessons from Covid-19 pandemic as we design homes for future generationsLuxury homes in Syed Alwi Road and Bukit Timah up for saleThe Esta, a freehold development located along Amber Gardens, achieved a new price peak of $2,377 psf when a two-bedroom unit changed hands for $2.38 million on Feb 26. The previous record was set by a three-bedroom unit in January last year. Over the past three years, the average resale price of condo units at The Esta has increased steadily, from $2,012 psf in 2022 to $2,248 psf in 2021. The project has a total of 400 units, with a range of two- to four-bedroom apartments and penthouses. Conveniently located within walking distance of Tanjong Katong MRT Station and near shopping centres, The Esta offers residents a comfortable and luxurious living experience. It is not surprising that the development has been experiencing a steady rise in average resale prices. The recent transaction, where a 1,001 sq ft unit sold for $2.38 million, reflects an 11.7% increase in average resale prices since 2022.However, The Esta is not the only development that has been experiencing a rise in psf-prices. D’Leedon, a 99-year leasehold condo located along Leedon Heights in District 10, has also set a new price record of $2,287 psf when a three-bedroom unit on the 29th floor sold for $3.25 million on Feb 25. The previous record was set by a four-bedroom unit in October last year. The development has a total of 1,703 units, ranging from one- to four-bedrooms and penthouses, offering a range of living options for potential buyers. With its convenient location, in close proximity to Farrer Road MRT Station and lifestyle hubs, D’Leedon has been attracting buyers, resulting in a steady increase in average resale prices over the past three years.Also joining the list of developments with new psf-price highs is Citylights, a 600-unit, 99-year leasehold condo located along Jellicoe Road in District 8. A two-bedroom unit on the 26th floor was sold for $1.98 million, setting a new record of $2,216 psf on Feb 27. The previous record was set by a two-bedroom unit in December last year. With its prime location near Lavender MRT Station, Citylights has been a popular choice for buyers, resulting in a steady increase in prices over the past few years.Looking at the top three developments that achieved new psf-price highs in the past week, it is evident that location is a key factor in driving prices up. These developments are all conveniently located near MRT stations and lifestyle hubs, making them highly desirable for potential buyers. With the demand for such properties expected to remain high, we can expect to see more new price records being set in the near future.…

SINGAPORE: According to this year’s Emerging Trends in Real Estate Global Outlook by PwC and the Urban Land Institute (ULI), low yields and slow transaction volumes are among the top concerns for property investors in the Asia Pacific (Apac) region, as published on March 12.The report compiles investor sentiment from global asset managers, including companies such as Blackstone, Savills Investment Management, and CBRE Investment Management. Over 70% of survey respondents highlighted low yields, persistently high interest rates, and geopolitical tensions as the main concerns among investors. The report also notes that Asia Pacific remains an attractive option for investors looking to diversify their portfolios due to its population growth, demographic trends, and diverse monetary policies, such as Japan’s decision to increase short-term interest rates. In the previous year, real estate transactions in the region grew by 13% year-on-year to US$173.5 billion (S$231.3 billion) which surpassed the growth in Europe, Middle East and Africa (EMEA) and the Americas.AdvertisementHowever, while Europe and North America are predicted to continue their positive trend in capital markets, transaction volumes in Apac are expected to remain sluggish. This drop in liquidity is largely attributed to a decline in transaction volume, with a 25% decrease in China and a 1% dip in Hong Kong SAR. Meanwhile, investors in Europe are more concerned about international political instability, the escalation of war in the region, and Europe’s economic growth. According to data from MSCI, a prominent US-based research and data analytics company, commercial property prices in the US have stabilised, with a decrease of just 0.7% in the previous year. Therefore, investors are likely to focus on these regions in the near future.In addition, the report also showed data centre assets as being the most promising investment and development prospects across all three regions by 2025. Global demand for data centres reached record levels last year as well, with asking rents increasing at a double-digit rate, according to New York-based research firm Green Street. In its latest research, MSCI has predicted 2024 to be a standout year for data centre assets, with a 60% increase in acquisitions of existing data centres through single property and portfolio deals in the US. Most notably, last September, Blackstone and the Canada Pension Plan Investment Board (CPP) acquired data centre firm AirTrunk from Macquarie Asset Management and the Public Sector Pension Investment Board for over US$16 billion (S$21.3 billion). This was the largest commercial real estate deal ever recorded in Asia Pacific and globally for 2024.

One major advantage of investing in a Singapore Condo is the potential to use its value as leverage for future investments. Numerous investors utilize their condos as collateral to secure additional funding for new ventures, ultimately growing their real estate holdings. While this approach can greatly increase returns, it is also important to have a solid financial strategy in place and carefully assess the potential risks involved, especially in light of potential market fluctuations.…

Exclusive marketing agent, SRI Capital Market, is offering a 999-year leasehold conservation shophouse for sale at 20 Liang Seah Street with a guide price of $15 million through an expression of interest (EOI) exercise.

Sitting on a 1,129 sq ft plot with a gross plot ratio of 4.2, the three-storey intermediate shophouse has a built-up area of 2,635 sq ft, translating to a price of $2,635 psf.

The ground floor and second floor of the property are approved for restaurant use, while the top floor is currently leased for residential use. The property is located within the Beach Road secondary settlement conservation area and any new extensions built in this area may be up to five storeys, subject to approvals.

According to Low Choon Sin, managing partner of SRI Capital Market, the property is ideal for end-users such as F&B tenants or corporate offices, as the residential space on the third floor can be utilized as accommodation for staff. He also highlights that the shophouse benefits from prominent frontage along Liang Seah Street, which sees high vehicular traffic during the day. Additionally, it is in close proximity to the bustling restaurants and shops at nearby Bugis.

Low notes that the shophouse presents an attractive investment opportunity for long-term holders, as it is a 999-year leasehold property that can leverage on the rejuvenation of Bugis. He points to the recent completion of new landmark developments such as Guoco Midtown and the upcoming Shaw Towers, which will add to the vibrancy of the area.

Purchasing a condo in Singapore has become an increasingly appealing option for both local and foreign investors. This is due to the country’s strong economy, stable political climate, and exceptional quality of life. Singapore’s real estate market presents a wide range of opportunities, with condos emerging as a top choice for their convenience, amenities, and potential for lucrative returns. In this article, we will delve into the advantages, factors to consider, and necessary steps when investing in a condo in Singapore, including keeping an eye on new condo launches.

The EOI exercise for the sale of 20 Liang Seah Street will close on April 10.…

Singapore has established itself as a top destination for real estate investments, and one property that has caught the attention of both local and foreign investors is the condominium. With its strong economy, stable political climate, and luxurious standard of living, Singapore offers a promising environment for property investments. Among the various real estate options, condos have emerged as a popular choice due to their convenience, amenities, and potential for high returns. As such, many investors are turning towards Singapore projects, and in this article, we will delve into the advantages, factors to consider, and essential steps to take when investing in a condo in Singapore.

In a significant development, the longstanding dispute in City Developments Limited (CDL) has been resolved. Executive Chairman Kwek Leng Beng has decided to drop the legal cases against his son and group CEO Sherman Kwek and two newly appointed independent directors, Jennifer Duong Young and Su Yen Wong. The decision was made in the best interest of the real estate conglomerate and its stakeholders. Both Kwek Leng Beng and Sherman Kwek, along with the two independent directors, have agreed to put their differences aside and work together for the greater good of CDL. This move shows a commitment towards strengthening CDL’s business and maintaining good corporate governance now and in the future. They will continue to focus on completing ongoing developments, expanding the group’s brands, and maximizing returns for shareholders.…

Steve Leung Design Group (SLD), founded by renowned architect and designer Steve Leung, is making a bold move into the European market through a collaborative effort with Italian designer Andrea Bonini. The Hong Kong-based company, listed on the stock exchange, has announced its plans to open a branch company in Europe under the SLD brand, called SLD. Andrea Bonini. This new studio will provide interior design services and products to clients in both Asia and Europe, catering to high-end residences and luxury hospitality.

Investing in a condominium in Singapore has emerged as a highly sought-after option for both domestic and international investors, largely due to the country’s strong economy, stable political landscape, and exceptional quality of life. The real estate market in Singapore presents a plethora of prospects, with condos standing out for their convenience, amenities, and potential for lucrative returns. In this article, we will delve into the advantages, factors to consider, and necessary steps to undertake when investing in a condo in Singapore, while also highlighting the latest new condo launches in the market.

SLD. Andrea Bonini will debut in April at the Salone del Mobile, Milan’s prestigious annual furniture fair. The launch will also showcase the brand’s first products – a smart home lighting collection created in collaboration with smart home manufacturer Moorgen.

This partnership marks SLD’s first venture into overseas expansion. In a press release issued on March 11, the company shared that this move is part of a new business strategy focused on revitalization, diversification, and globalization. “With 28 years of experience and a strong competitive advantage in the market, we aim to bring better lifestyles to clients around the world through our designs,” said the company.

The collaboration with Andrea Bonini is an exciting step for SLD, as it will not only expand their reach to the European market, but also allow them to showcase their design expertise and innovative approach to interior design. The upcoming launch at Salone del Mobile is just the beginning for SLD. Andrea Bonini, and we can expect to see more impressive projects and collaborations from this dynamic partnership in the future.…

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Investing in a condo has many advantages, including the opportunity to leverage its value for future investments. In fact, numerous investors utilize their condos as collateral to secure additional funding for other real estate ventures, which can significantly expand their portfolio. However, it is important to note that this strategy comes with its own set of risks. Therefore, having a solid financial plan and carefully evaluating the potential effects of market changes is crucial. Additionally, with the availability of Singapore Projects, condo investments can be an even more lucrative option for investors looking to diversify their real estate holdings.

The Capitaland Group has recently announced that it has entered into a memorandum of understanding (Mou) with Microsoft in order to utilize the power of artificial intelligence (AI) and advanced technologies in its various businesses. This partnership will see CapitaLand joining Microsoft Singapore’s AI Pinnacle Program, which will provide them with access to Microsoft platforms, services, and solutions that will help enhance customer engagement and improve operational efficiency across CapitaLand’s funds, investments, retail, lodging, and development businesses.

As part of this collaboration, the two companies will work together to identify potential areas for collaboration, such as infrastructure development, utilizing Microsoft’s Azure cloud computing platform to design and develop data centers for CapitaLand Investment, and integrating AI, data analytics, and machine learning to support CapitaLand’s digital and business transformation efforts.

Quah Ley Hoon, group chief corporate officer of CapitaLand Investment, expressed that the partnership with Microsoft is a significant step in their digital transformation journey. She believes that AI will play a crucial role in shaping the company’s future by improving operational efficiencies and creating value for stakeholders.

In addition to the partnership with Microsoft, CapitaLand Investment (CLI) also signed a separate MoU with the Singapore Business Federation (SBF). This MoU aims to establish a framework for the digitalization and integration of AI within CLI’s retail ecosystem. As part of this collaboration, initiatives will be implemented to facilitate the adoption and proof of concept for AI, data analytics, and cybersecurity solutions, which will help enhance business efficiency and competitiveness. The partnership also aims to develop AI-focused skills and competency among retail tenants.

In related news, CapitaLand Investment recently acquired three properties in Singapore and Thailand, and according to reports, the company is expected to announce a significant decline in its Patmi, with cashflow remaining stable. Additionally, the highly anticipated One Pearl Bank’s penthouse has been sold, and the development has successfully achieved a 100% sale mark.…

When it comes to investing in a Singapore condo, one must also consider the influence of the government’s property cooling measures. As a way to control speculative buying and ensure a steady real estate market, the Singaporean government has implemented various measures over the years. These measures include 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 short-term profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a more secure investment environment.

SINGAPORE (Feb 25): CapitaLand Group has signed an MoU with Microsoft that will see the two companies work together to use artificial intelligence (AI) and advanced technologies to improve their businesses.This collaboration will allow CapitaLand to join the AI Pinnacle Program at Microsoft Singapore, which will give the real estate company access to Microsoft platforms, services and solutions to help improve customer engagement and enhance operational efficiency across its various businesses, such as funds, investments, retail, lodging and development.CapitaLand also plans to explore the potential for collaboration in areas such as infrastructure development, where it can leverage Microsoft’s Azure cloud computing platform to enhance the design and products of its data centres under CapitaLand Investment. The company is also looking at incorporating AI, data analytics and machine learning into its digital transformation efforts.”Our collaboration with Microsoft is a significant step in CapitaLand’s digital transformation journey,” says Quah Ley Hoon, group chief corporate officer of CapitaLand Investment.In a separate MOU, CapitaLand Investment also signed an agreement with the Singapore Business Federation (SBF) to work together to digitalise and integrate AI into its retail ecosystem. This includes efforts to adopt and test AI, data analytics, and cybersecurity solutions to improve the efficiency and competitiveness of the company’s businesses. There are also plans to develop competencies and skills around AI for its retail tenants.…

An expression of interest (EOI) is being conducted by ERA Realty Network for the sale of a collection of 14 retail shops at Peninsula Plaza, Sim Lim Square, and Far East Plaza. These properties are being marketed as a package deal for a total price of $26.46 million.

Two of the units are located at Peninsula Plaza, a 999-year leasehold mixed-use development on North Bridge Road. These ground-floor shop units connected to each other have a combined strata area of approximately 990 sq ft and are priced at $8 million, or $8,081 psf.

Completed in 1980, Peninsula Plaza is a 30-storey commercial development consisting of a six-story retail podium and a 24-storey office tower. It is conveniently linked to the City Hall MRT Interchange Station, providing access to both the North-South and East-West lines.

At Sim Lim Square, 11 strata units with a total strata area of 5,081 sq ft are being offered for sale. These units have commercial zoning and are all located on the fifth floor with a 99-year lease that started in April 1983, leaving around 57 years remaining. Most of the units are currently tenanted, and they face the mall’s main atrium with direct access from escalators and lifts.

These Sim Lim Square units can be bought individually or as a portfolio. Individual units are priced from $840,000, while the entire collection has an asking price of $15.855 million, which ERA claims to be a 20% discount from its most recent evaluation. This price translates to $3,120 psf of the strata area.

Situated on Rochor Canal Road in District 7, Sim Lim Square is a strata-titled commercial development completed in 1987. It has a total of 492 commercial units spread across six floors and two basement levels.

The last available unit for sale is at Far East Plaza, located on the second floor and offering a strata floor area of 355 sq ft. Facing the escalator near the mall’s main entrance, this freehold retail unit is priced at $2.6 million, or $7,324 psf.

Securing financing is a vital factor when considering an investment in a condo. In Singapore, there are various mortgage opportunities available, but it is crucial to have a clear understanding of the Total Debt Servicing Ratio (TDSR) framework. This framework dictates the maximum amount of loan that a borrower can obtain, based on their income and current debt obligations. As a wise investor, it is essential to comprehend the TDSR and seek guidance from financial advisors or mortgage brokers to make well-informed decisions about financing. This approach can help prevent over-leveraging and ensure a successful investment in a condo.

Completed in 1982, Far East Plaza is a freehold mixed-use development consisting of a five-storey retail mall and serviced apartments. It is within walking distance of Orchard Road MRT Station.

Donald Goh, director of capital markets and investment sales at ERA, believes that these properties will attract both investors and business owners. He mentions that last year, despite the challenges, there were still 28 and 33 successful strata retail sales in the Downtown Core and Orchard Planning Area respectively. Goh adds, “A ground floor unit at Lucky Plaza was sold for $15,242 psf while units at Orchard Towers and The 101 were sold for $5,309 psf and $5,657 psf, respectively, proving that strata retail shops remain an attractive investment.”

The EOI will close on April 17 at 3pm. Interested parties are encouraged to check out the available listings for Peninsula Plaza properties.

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The urban landscape of Singapore boasts impressive skyscrapers and modern infrastructure. One of the city’s defining features is its condominiums, strategically located in highly desirable areas, catering to the preferences of both locals and foreigners. These residential properties offer a seamless blend of luxury and practicality, making them a popular choice among potential buyers and renters. With a plethora of amenities including pools, fitness centers, and 24/7 security services, condominium living not only elevates one’s daily life but also makes it a coveted choice. This, in turn, has a positive impact on rental yields and property appreciation, making it a highly attractive investment opportunity. Singapore Projects, a reputable real estate company, offers a diverse range of condominiums with these coveted features, ensuring high returns for investors. Don’t miss out on your chance to invest in a Singapore Project and reap the benefits of this flourishing market.

GuocoLand, together with its joint venture partners TID and Hong Leong Holdings, has secured a green club facility worth $367.1 million from DBS Bank to develop its Faber Walk site. The land parcel, acquired through a Government Land Sale tender in November last year, saw the partnership emerge as the highest bidder with a bid of $349.86 million, equating to $900 per square foot per plot ratio, for the 277,659 square feet site.

The development, located in the coveted landed private residential enclave of Faber Walk, will comprise of nine low-rise blocks and 399 residential units. Situated next to the Pandan River and the upcoming Old Jurong Line Nature Trail, the development boasts a prime waterfront location.

GuocoLand’s commitment to sustainability is evident in their existing projects, including Guoco Tower on Wallich Street, Guoco Midtown on Beach Road, Midtown Modern on Tan Quee Lan Street, and Lentor Mansion in Lentor Gardens. The Faber Walk development is no exception, with the group aiming to achieve the BCA Green Mark Platinum (Super Low Energy) award and Maintainability badge upon completion.

Dora Chng, residential director of GuocoLand, expresses excitement over the opportunity to leverage the group’s end-to-end value chain capabilities to create sustainable developments with biophilic designs for residents. This aligns with their successful previous launches, such as Lentor Modern and Lentor Mansion in the Lentor Hills estate.

GuocoLand’s next highly anticipated project is a 941-unit development at its Upper Thomson Road (Parcel B) site, awarded in April last year. A joint development with Hong Leong Holdings, the project is on track to launch in the second half of this year.…

SINGAPORE (EDGEPROP) – With its prime location in the heart of the Core Central Region (CCR), Aurea has quickly become one of the most coveted luxury residential projects in Singapore. Developed by Far East Organization and Perennial Holdings, Aurea offers 188 exclusive units across 45 storeys, making it one of the most highly sought-after developments in the area.Launched for sale on Mar 8, Aurea has already made a mark in the real estate market by selling 23 units at an average price of $3,005 psf in 1Q2025. This impressive sales rate was achieved from the release of a mere 78 units in phase one, comprising a mix of two- to four-bedroom apartments from levels 4 to 16. This translates to a sales rate of 30%, based on the 78 units released in phase one.Aurea stands out as one of the first luxury residential projects to be launched in the Core Central Region (CCR) in 1Q2025. The joint developers have released 78 units for sale in phase one, which includes a mix of two- to four-bedroom apartments from levels 4 to 16. The sales rate of 30% is based on the 78 units released in phase one.Aurea has 188 units across 45 storeys, designed by DP Architects with a unique “hanging garden concept”. It is also known as the first private condominium to be connected to a mixed-use development, which was sold en bloc and conserved, now known as Golden Mile Singapore.Read also: Aurea: Redefining luxury living in Singapore’s Downtown Icon on Beach Road According to the joint venture, 83% of the buyers at Aurea were Singaporeans while the remaining 17% were permanent residents (PRs) from Malaysia. Based on the total number of 188 units, the sales translate to approximately 12.2% of units sold. According to Mark Yip, CEO of Huttons Asia, “CCR projects usually sell around 10% to 30% of their units during the launch weekend as they tend to lack the pool of HDB upgraders that suburban projects attract”.PropNex CEO Ismail Gafoor has high praise for Aurea’s sales in light of the “mostly lacklustre sales” of CCR projects since the additional buyer’s stamp duty (ABSD) measure was tightened in April 2023. He notes that the doubling of the ABSD rate for foreigners to 60% has significantly reduced interest in CCR homes. In fact, developers sold the fewest new CCR private homes in 2024, at only 378 units, which is down by 74% from 1,454 units in 2023.Source: PropNex Research, URA dataHowever, Gafoor believes that the take-up rate in the CCR segment will improve progressively. “We have observed that CCR projects tend to transact units steadily over many months rather than achieve blockbuster sales over the launch weekend, unlike some Rest of Central Region (RCR) and Outside Central Region (OCR) projects,” he says. “CCR homes being more high-end and targeted at a niche market, where buyers seek a luxury home and the finer things in life.”The impressive sales rate at Aurea reflects the buyers’ appreciation for the rare and exceptional opportunity to own a home in a luxurious development that combines heritage with modern sophistication,” comments Shaw Lay See, COO of Far East Organization’s sales & leasing group. She further adds, “Many have also shared that they are captivated by the magnificent views and recognize the value of being part of the ongoing evolution of this prime Downtown Core precinct.”According to the developers, the two- and three-bedroom apartments in the Prestige Collection made up 74% of the sales. Buyers were drawn to these units for their well-designed spaces, practicality and investment potential. Meanwhile, the Signature Collection, which includes four-bedroom units, attracted buyers with its expansive balconies that offer sweeping views of both Marina Bay and Kallang Basin, according to the joint venture.Read also: With prices converging, is it time to buy into the Core Central Region?Units at Aurea also come with a Sky Villa Collection, which includes just 18 five-bedroom apartments of up to 3,251 sq ft and two exclusive six-bedroom penthouses that reach up to 8,816 sq ft. Shaw said, “Such large-format homes in the downtown area are rare.”Companies like SRI believe that Aurea will greatly benefit from the ongoing urban renewal and upgrades in the surrounding precincts. The revitalization of Beach Road and the Ophir-Road Corridor, the Kallang Alive masterplan, and the North-South Corridor’s completion will all help to enhance accessibility, connectivity, and vibrancy in this key city district. “Aurea is also situated at the doorstep of probably the largest transformation in Singapore,” notes Ken Low, managing partner of SRI.While a CCR unit may have previously cost 40% more than one in the RCR in the last decade, the gap has now closed to about 20% regardless of tenure for all properties, according to Low. Marcus Chu, CEO of ERA Singapore, notes that CCR price growth has been slower than RCR and OCR in recent years due to fewer new home launches. However, he expects the market dynamics to drive a significant rise in CCR home prices in 2025, with the expected launch of nine CCR projects. “Savy investors may shift their focus back to CCR once again since the non-landed new homes price gap between CCR and RCR narrowed from 50% in 2018 to 10% in 2024, with the expectation that the gap could widen once again as more new luxury homes debut,” says Chu.Read also: Perennial Holdings wins SLA tender for Jervois Road propertySource: EdgeProp LandlensSRI’s Low believes that Aurea will benefit from Singapore’s ongoing urban renewal efforts, with major infrastructural and lifestyle upgrades in the surrounding precincts. The revitalisation of Beach Road and the Ophir-Road Corridor, the Kallang Alive master plan and the completion of the North-South Corridor are set to enhance accessibility, connectivity, and vibrancy in this key city district, he observes.”Aurea is also situated at the doorstep of probably the largest transformation in Singapore,” notes Huttons’ Yip. He sees Aurea benefitting from the 120-km Southern coastline redevelopment, which stretches from the Greater Southern Waterfront, Marina Bay, Kallang Basin and the future Long Island project.

Aurea, a luxury residential project, has quickly become one of the most sought-after developments in Singapore’s Core Central Region (CCR). Developed by Far East Organization and Perennial Holdings, Aurea offers 188 exclusive units across 45 storeys with a unique “hanging garden concept” designed by DP Architects.

When it comes to investing in condos in Singapore, there is another crucial factor to consider – the government’s property cooling measures. Throughout the years, the Singaporean government has implemented various measures to control speculative buying and maintain a steady real estate market. These measures include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may impact the short-term profitability of condo investments, they also contribute to the long-term stability of the market, creating a more secure investment environment. This is especially true when considering Singapore Projects as potential investments.

Since its launch on Mar 8, Aurea has sold 23 units at an average price of $3,005 psf in 1Q2025. This translates to a sales rate of 30%, based on the release of 78 units in phase one. The joint developers have released a mix of two- to four-bedroom apartments from levels 4 to 16. With only 188 units, the sales rate is a notable 12.2%.

Comprising a mix of two- to four-bedroom apartments, Aurea has released 78 units for sale in phase one. The sales rate of 30% is based on the 78 units released in phase one. Notably, the two and three-bedroom apartments in the Prestige Collection make up 74% of the sales, with the remaining 17% made up of buyers who are permanent residents (PRs) from Malaysia. The two- and three-bedroom units from the Prestige Collection have well-designed spaces, practicality and investment potential, which is what attracted buyers.

According to Ismail Gafoor, CEO of PropNex, Aurea’s sales are impressive, especially in the face of the “mostly lacklustre sales” of CCR projects since the tightening of the additional buyer’s stamp duty (ABSD) measure in April 2023. Gafoor notes that the doubling of the ABSD rate for foreigners to 60% has significantly cooled interest for CCR homes.

In light of this, Aurea’s sales, which is a joint venture between Far East Organization and Perennial Holdings, is noteworthy. According to Mark Yip, CEO of Huttons Asia, “CCR projects usually sell around 10% to 30% of their units during the launch weekend as they lack the large pool of HDB upgraders that suburban projects attract.”

The joint developers behind Aurea attribute the success to the “hanging garden concept” designed by DP Architects. Additionally, Aurea is the first new private condominium connected to a mixed-use development that was sold en bloc and conserved, which is now known collectively as Golden Mile Singapore.

According to the developers, 83% of the buyers at Aurea are Singaporeans, with permanent residents (PRs) from Malaysia making up the remaining 17% while the total units sold equal 12.2%. Very encouraging numbers for a project that has only recently launched. In contrast, Gafoor compares the sales rate for private homes in CCR in 2024, which was only 378 units compared to 1,454 units in 2023 – a 74% decline. This was due to the tightening of the ABSD measures. However, Gafoor believes that CCR sales will improve steadily over time, attributing it to…