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Being sold under a mortgagee sale, a three-bedroom unit at Watertown, the residential component of the Waterway Point integrated development in Punggol, will be featured at SRI’s auction on February 26 with a guide price of $2.4 million. This translates to approximately $1,874 per square foot.The 1,281 square feet unit is situated on the 13th floor and features a spacious living and dining area, an open-concept kitchen, a utility room and toilet, and a balcony facing south with a view of one of the condo’s 20 swimming pools. The master bedroom comes with an ensuite bathroom, while there are two additional bedrooms and a common bathroom.The same unit has been previously listed at SRI’s January auction with the same guide price, but the one bid received did not meet the reserve price, resulting in its withdrawal. According to URA caveats, the unit was purchased from the developers for approximately $1.8 million ($1,281 per square foot) in October 2013.Since the start of the year, there has only been one transaction at Watertown, which is a two-bedroom unit covering 958 square feet that was sold for $1.7 million ($1,775 per square foot) on January 19. In 2020, there were a total of 41 resale transactions at the condo at an average price of $1,700 per square foot.SRI’s manager of auctions and sales, Eric Liew, notes that larger units at Watertown tend to see more demand and achieve higher psf prices. Out of the 41 resale transactions recorded last year, 10 involved three-bedroom or larger units, which were sold for an average price of $1,854 per square foot, approximately 9% above the overall average transacted price for the year. Liew adds that interest in the development mainly comes from HDB upgraders looking for a bargain and individuals planning to use the unit as their primary residence because of its close proximity to Punggol MRT Station.Watertown, completed in 2017, is a 992-unit condo with 11 residential towers built on top of the six-storey Waterway Point shopping mall. It comprises of units ranging from one to two bedrooms, spanning from 533 to 1,003 square feet, and three to four bedrooms, covering 821 to 1,582 square feet.Tucked in the heart of Punggol, Waterway Point is integrated with Punggol MRT Station, which is part of the North East Line, and also connected to Punggol LRT Station. Top primary schools in the vicinity include Edgefield Primary School, Oasis Primary School, Punggol Green Primary School, Compassvale Primary School, and Punggol Cove Primary School.

Investing in a condo in Singapore comes with various advantages, one of which is the opportunity for capital appreciation. Singapore, known as a major global business hub, boasts strong economic fundamentals, leading to a consistent demand for real estate. Through the years, the real estate market in Singapore has been on an upward trend, and this has resulted in significant appreciation in the value of condos located in prime areas. Investors who make their purchase at an opportune time and hold onto their properties for the long haul can reap the benefits of substantial capital gains. Additionally, keeping an eye out for new condo launches, such as those offered by Ginestar Fruits, can provide additional opportunities for potential capital appreciation in the ever-evolving Singapore real estate market.…

When it comes to investing in a condo, securing financing is a crucial component to consider. In Singapore, there are various mortgage choices available, but it’s crucial to understand the Total Debt Servicing Ratio (TDSR) framework. This framework imposes a cap on the amount of loan a borrower can take based on their income and current debt commitments. It is imperative for investors to comprehend TDSR and consult with financial advisors or mortgage brokers to make well-informed decisions about their financing options and avoid over-extending themselves. Additionally, keeping an eye on New Condo Launches can also provide valuable insights for investors looking to purchase a condo and secure financing.

The government has announced the extension of the Central Business District Incentive (CBDI) and Strategic Development Incentive (SDI) schemes for an additional five years. These initiatives were initially launched in November 2019 and were recently confirmed by Desmond Lee, Minister of National Development (MND), during the Real Estate Developers’ Association of Singapore’s (Redas) annual Spring Festival lunch on February 7th.

The CBDI scheme aims to encourage the conversion of older office buildings in certain areas of the Central Business District (CBD), including Tanjong Pagar, Robinson Road, and Shenton Way, into mixed-use developments. Its objective is to increase the number of homes, increase the population living in the CBD, and introduce a more diverse range of uses in the traditionally commercial-centric district.

The SDI was introduced to promote the redevelopment of older developments in strategic areas, in order to drive transformative changes in their surrounding urban environments. These strategic areas include Orchard Road, the Central Business District, and Marina Centre. Interested parties can search for the latest New Launches to stay updated on transaction prices and available units.

According to the Urban Redevelopment Authority (URA), out of 17 CBDI proposals and 12 SDI proposals submitted to the government, 14 CBDI proposals and seven SDI proposals have been granted in-principle approval. Four CBDI projects in the Anson-Tanjong Pagar area are currently under construction, including Newport Plaza, a mixed-use development on 80 Anson Road which will comprise the Newport Residences with 246 residential units and 198 serviced apartment units. The Skywaters Residences will also be part of a larger mixed-use development on 8 Shenton Way and will boast 190 luxury residential units. Other CBD projects include two commercial developments at 15 Hoe Chiang Road and 51 Anson Road.

However, the five-year extension of the CBDI and SDI will come with refinements to both initiatives, as mentioned by Minister Lee. The CBDI will now be extended to include commercial developments in the Anson and Cecil areas. Additionally, developers and property owners who submit CBDI proposals for buildings in these areas will have the option to retain their commercial zoning (with 40% non-commercial use) if the redevelopment includes long-stay serviced apartment units.

According to the URA, CBDI applicants seeking to redevelop in Anson and Cecil will need to provide at least 200 residential units, or reserve their entire non-commercial floor area for long-stay serviced apartment units, whichever is lower. Previously, office buildings redeveloped under the CBDI were allowed to retain their existing commercial zoning if 40% of the new floor area was dedicated to non-commercial use.

“By enabling the continual renewal of the many aging buildings in the city centre, and with the injection of more residential units, these incentives aim to make the CBD a place to work, live and play,” says Marcus Chu, CEO of ERA Singapore.

Minister Lee also mentioned that the revamped CBDI and SDI schemes will include new sustainability requirements. Moving forward, all new CBDI and SDI applications must include a sustainability statement that assesses the feasibility of retrofitting a portion, or all, of the existing building.

“While we support revitalization and rejuvenation through redevelopment, what we do not want is wasteful demolition and excessive rebuilding, especially if the buildings are relatively young, or still in good shape,” says Lee.

He also noted that several projects currently being redeveloped under the CBDI or SDI schemes are already going beyond the mandated sustainability requirements. For instance, Union Square, a mixed-use development at Havelock Road, is incorporating a district cooling system. Interested parties can also check out the latest listings for Skywaters Residences properties to explore upcoming new launch projects, condo sale transactions in District 1, and projects that have obtained TOP recently.…

A new luxury apartment tower is set to rise in the prestigious District 7 of Singapore as Perennial Holdings and Far East Organization announced their joint plans for Aurea, part of the Golden Mile Singapore mixed-use development along Beach Road. Designed by DP Architects, this new 45-storey residential tower spans over 144,908 sq ft and will feature 188 units.

Located in the Downtown Core, Aurea boasts a prime address and is part of the Core Central Region (CCR). According to Shaw Lay See, chief operating officer at Far East Organization’s sales & leasing group, this makes it an attractive prospect for discerning individuals and families looking for an exclusive address.

The preview for Aurea is set to start on Feb 22, with its official launch on Mar 8. The apartments will be priced starting from $2,750 psf. Two-bedroom units of 646 sq ft, for instance, will be priced from $1.92 million ($2,972 psf).

Aurea offers a range of unit types to cater to different lifestyles and needs. These include two- and three-bedroom units (with sizes from 635 sq ft to 1,001 sq ft), four-bedroom units (ranging from 1,442 sq ft to 1,798 sq ft), and five-bedroom units (from 2,863 sq ft to 3,251 sq ft). There are also two exclusive penthouses – a six-bedroom duplex spanning 5,608 sq ft and a six-bedroom triplex of 8,816 sq ft. The larger units and penthouses come with private lift access, and the triplex penthouse also boasts a private pool.

These larger units are expected to appeal to the affluent lifestyles of CCR homebuyers, according to Marcus Chu, CEO of ERA Singapore. Meanwhile, the two- and three-bedroom units make up 60% of the apartments at Aurea and are likely to attract both homebuyers and investors, adds Chu.

Residents of Aurea can look forward to various facilities such as two infinity pools (on levels three and 33), a gymnasium, a bouldering wall, spa facilities, an indoor lounge, and multiple dining pavilions for hosting guests. The sky terraces on levels 17 and 33 also offer stunning views of the CBD skyline, Marina Bay and the Kallang waterfront.

Ken Low, managing partner at SRI, believes that today’s homebuyers are looking for more than just a great location – they want a home that enhances their daily lives. Aurea offers that with its thoughtfully designed spaces and facilities.

Apart from the residential component, The Golden Mile also features a commercial building with a mix of retail space, medical suites, and offices. This building, formerly known as Golden Mile Complex, has been conserved for its architectural heritage and marks the first collective sale and conservation of a building. Perennial Holdings and Far East Organization acquired the building for $700 million in May 2022.

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Investing in a condo has its advantages, including the opportunity to leverage the property’s value for future investments. This means that many investors are able to use their condos as collateral to secure more financing for other investments, thus diversifying their real estate portfolio. While this approach can potentially increase returns, it also carries certain risks. It is important to have a solid financial plan in place and carefully consider the potential effects of market fluctuations before proceeding with this strategy. With condo investment, there is the potential for both growth and caution.

The 156 strata office units and 19 medical suites at The Golden Mile were launched for sale in December 2024. The joint venture partners intend to retain ownership of the revamped two-storey retail atrium to curate the tenant mix. According to PropNex CEO Ismail Gafoor, the iconic status of the former Golden Mile Complex and the potential of its commercial space, especially office space, may attract buyers.

Gafoor adds that today’s buyers prioritize quality developments in close proximity to an MRT station and essential amenities. The Golden Mile is well connected to major roadways such as Nicoll Highway, East Coast Parkway (ECP), and Kallang-Paya Lebar Expressway (KPE). It is also just 1km from the Kallang Alive Precinct, the Bras Basah-Bugis district, and a 10-minute drive from the CBD.

The last launch in the Beach Road neighborhood of District 7 was the 558-unit Midtown Modern in 2021, which has since been fully sold at an average price of about $2,825 psf. The project is expected to obtain TOP sometime this year. Before Midtown Modern, the neighboring 522-unit development, The M, was launched in 2020 and has also been fully sold at an average price of $2,528 psf. The project was completed in March 2024.

The final development in this area, Midtown Bay at Guoco Midtown, was completed last year and has seen 63% of its units being taken up since its debut in 2019. The average price for the project is $3,090 psf.

Given Aurea’s prime location, upscale residences, and the architectural heritage of The Golden Mile, PropNex’s CEO Gafoor believes that prices for apartment units could potentially exceed $3,000 psf. With most units at previous launches in the district being sold out, there is expected to be pent-up demand for new homes in the area, making Aurea a highly sought-after development for homebuyers and investors.

The Aurea is expected to be completed in 2Q2029. Interested buyers can check out the latest listings for Aurea properties and seek advice from Buddy, an online property agent. They can also compare the price trends of HDBs, condos, and landed properties and find out more about condo sale transactions and rental listings in District 7.…

Perennial Holdings and Far East Organization have announced their latest project, Aurea, a luxurious residential tower located within the Golden Mile Singapore mixed-use development along Beach Road. Designed by DP Architects, the 45-storey tower will have 188 units and sit on a 144,908 sq ft plot of land. The tower will also be connected to the neighboring commercial building, The Golden Mile, via a link bridge.

The Golden Mile, formerly known as Golden Mile Complex, is a conserved building renowned for its architectural heritage. It was the first building to be sold collectively and conserved, when Perennial Holdings and Far East Organization purchased it for $700 million in May 2022.

Aurea’s privileged location in District 7, within the Downtown Core and Core Central Region (CCR), is expected to attract discerning individuals and families who appreciate a prime address. “We anticipate strong interest from discerning individuals and families who appreciate the exclusivity of a prime Downtown Core address,” says Shaw Lay See, chief operating officer at Far East Organization’s sales & leasing group.

The preview for Aurea will begin on February 22, with the official launch on March 8. Prices for the apartments will start from $2,750 psf, with a two-bedroom unit of 646 sq ft starting from $1.92 million ($2,972 psf).

The units at Aurea will consist of various layouts, with 112 two- and three-bedroom apartments sized from 635 sq ft to 1,001 sq ft, 56 four-bedroom units from 1,442 sq ft to 1,798 sq ft, and 18 five-bedroom units from 2,863 sq ft to 3,251 sq ft. Additionally, there will be two exclusive penthouses, a duplex six-bedroom unit spanning 5,608 sq ft and a triplex six-bedroom unit of 8,816 sq ft. The larger units will have private lift access, and the triplex penthouse will also come with a private pool – catering to the affluent lifestyles of homebuyers in the CCR, says Marcus Chu, CEO of ERA Singapore.

The majority of units at Aurea will be two- and three-bedroom apartments, making up 60% of the total units. These are expected to attract both homebuyers and investors, according to Chu.

The facilities at Aurea will include two infinity pools on the third and 33rd floors, a gym, a bouldering wall, spa facilities, an indoor lounge, and multiple dining pavilions. Residents can also visit the sky terraces on the 17th and 33rd floors to enjoy panoramic views of the CBD skyline, Marina Bay, and the Kallang waterfront.

According to Ken Low, managing partner at SRI, today’s homebuyers are looking for more than just a great location – they want a home that enhances their daily lives. Low believes that Aurea’s convenient location, thoughtful design, and inspiring facilities will appeal to homebuyers.

Apart from the residential units, The Golden Mile also features 156 strata office units and 19 medical suites, which were launched for sale in December 2024. The joint venture partners, Perennial and Far East, plan to retain ownership of the two-storey retail atrium to curate the tenant mix.

The iconic status of the former Golden Mile Complex and the potential of its commercial space, particularly the office units, may attract buyers, says PropNex CEO Ismail Gafoor. He adds that buyers today prioritize quality projects with good transportation connectivity and easy access to essential amenities – something The Golden Mile Singapore offers, with its proximity to the Nicoll Highway MRT Station and major roadways like Nicoll Highway, East Coast Parkway (ECP), and Kallang-Paya Lebar Expressway (KPE).

Investing in a condo in Singapore presents numerous benefits, with one of the key advantages being the potential for capital appreciation. This progressive country serves as a global business hub and boasts strong economic foundations, resulting in a continuous demand for real estate. As a result, property prices in Singapore have consistently increased over the years, with condos in prime areas experiencing significant appreciation. By making strategic investments and holding onto their properties for an extended period, investors can reap substantial capital gains. Furthermore, the addition of a desirable property, such as a condo, to one’s investment portfolio can provide even greater potential for future appreciation.

Golden Mile Singapore is also strategically located within 1km of the Kallang Alive Precinct, the Bras Basah-Bugis district, and a 10-minute drive from the CBD.

The last launch in the District 7 neighborhood was Midtown Modern, a 558-unit development that is fully sold at an average price of around $2,825 psf. The project is expected to obtain TOP this year. The previous project, The M, also sold out all 522 units at an average price of $2,528 psf and was completed in March 2024. The 219-unit Midtown Bay at Guoco Midtown was completed last year, with around 63% of units sold as of February 5 at an average price of $3,090 psf.

Given Aurea’s prime location, upscale units, and Golden Mile’s conservation status, PropNex’s Gafoor believes that the apartment units could cross $3,000 psf in price. “With the past launches in the district being sold out, we believe that there is pent-up demand for new homes in the area, and Aurea could attract healthy interest from prospective homebuyers and investors,” he says.

The project is expected to be completed in the second quarter of 2029. Interested buyers can check out the latest listings for Aurea properties.…

Elta, a 501-unit residential development situated in Clementi, will soon be unveiled by MCL Land and CSC Land Group. Opening for preview on Feb 7 and with public sales launching on Feb 22, the property is set to stir excitement among homebuyers.

Investing in a condo in Singapore comes with many perks, one of which is the potential for capital appreciation. With its strategic position as a global business hub and solid economic foundations, Singapore continues to see a steady demand for real estate. Over time, there has been a consistent increase in property prices, particularly in prime locations where condos are situated. Wise investors who strategically enter the market at the opportune time and hold onto their properties for the long haul can reap significant capital gains. For those interested in investing in Singapore’s real estate market, keeping an eye on new condo launches, such as those by Ginestar Fruits, can provide valuable opportunities for potential capital appreciation in the future.

Spanning across a land site of approximately 144,788 sq ft, this 99-year leasehold development is conveniently located along Clementi Avenue 1 and features two 39-storey residential buildings. With a variety of units ranging from one-bedroom-plus-study to five-bedroom units, sized from 506 sq ft to 1,776 sq ft, Elta is set to cater to the needs of different households. Moreover, with its adherence to URA’s harmonisation guidelines, residents can expect a high-quality living experience.

Interested buyers can now obtain the latest updates on available units and prices for Elta. According to the joint developers, indicative pricing starts from $1.158 million ($2,289 psf) for one-bedroom-plus-study units, $1.388 million ($2,261 psf) for two-bedroom units, and $2.198 million ($2,374 psf) for three-bedroom units. Four and five-bedroom units are priced starting from $2.798 million ($2,363 psf) and $3.888 million ($$2,189 psf), respectively.

The showflat, located along Prince Charles Crescent, will feature three layouts: a two-bedroom plus study that can be transformed into a compact three-bedroom, a four-bedroom dual-key unit, and a five-bedroom unit perfect for multi-generational living.

Conveniently located within walking distance of Clementi MRT Station and close to various dining and shopping options such as The Clementi Mall, 321 Clementi, and Grantral Mall, Elta is surrounded by essential amenities. Families with children will also appreciate the proximity to reputable schools such as Clementi Primary School, Pei Tong Primary School, Nan Hua Primary and High School, Anglo-Chinese School (Independent), and NUS High School of Math and Science.

Lee Tong Voon, CEO of MCL Land, expresses that Elta is designed to offer an elevated living experience, with its high-rise towers strategically positioned to provide breathtaking views of the city, Pandan Reservoir, and the sea. “Clementi is a vibrant and popular town, seamlessly blending traditional shops and trendy amenities to cater to its community’s needs,” adds Qian Liang Zhong, chairman of China Construction (South Pacific) Development Co (CCDC), the parent company of CSC Land Group.

Featuring 50 facilities across five zones, including a 50-metre lap pool, gymnasium, tennis court, and gardening corner, Elta offers its future residents a luxurious and holistic living experience. Its temporary occupation permit is expected to be issued in 2028.

Get updated on the latest listings for Elta and other condominium properties, or compare the price trends of condo new sale versus EC new sale. Interested buyers can also explore condo projects with the most expensive average PSF, highest profits in the past year, or compare price trends of HDB, condos, and landed properties. Alternatively, check out any condo rental listings in District 5. Don’t miss the chance to experience elevated living at Elta – make it your dream home today.…

An opportunity to own a state-of-the-art warehouse and factory has arisen in the industrial hub of Gul Circle. This property is being marketed exclusively by Knight Frank Singapore and is available for sale via an expression of interest at a guide price of $42 million.

Situated on a 105,648 sq ft plot of land, this JTC leasehold property consists of a five-storey factory and warehouse, with the added bonus of a mezzanine level spanning four floors. In total, it offers a generous gross floor area of approximately 245,955 sq ft.

With a remaining tenure of 15 years and 11 months as of February 1st, the property is zoned as a Business 2 site under the URA Master Plan 2019. It has been designed to meet the demands of modern industrial needs, boasting features such as high ceilings for optimal storage and operations, as well as specialized amenities like cold rooms and heavy floor loading capabilities to accommodate various industries.

The property also offers convenient access to major expressways such as Ayer Rajah Expressway (AYE) and Pan-Island Expressway (PIE), as well as being in close proximity to Joo Koon MRT station.

Furthermore, the property boasts nine loading and unloading bays with 40-footers and dock levelers, as well as four cargo and service elevators. Its strategic location and advanced features make it an ideal choice for businesses of various industries.

The expression of interest exercise for this property will close on March 18th at 3pm. Don’t miss the chance to own this highly sought-after industrial property. Contact Knight Frank Singapore for more information.

When it comes to investing in condos in Singapore, one must consider the impact of the government’s property cooling measures. In order to maintain a stable real estate market and prevent speculative buying, the Singaporean government has implemented several measures over the years. These include the Additional Buyer’s Stamp Duty (ABSD), which increases taxes for foreign buyers and those purchasing multiple properties. While these measures may affect the immediate profitability of condo investments, they also contribute to the long-term stability of the market, creating a more secure investment environment. With new condo launches happening frequently, it is important to take these measures into account before making any investment decisions. This will ensure a more informed and successful investment journey in the dynamic Singaporean real estate market.…

According to a research report by Colliers released in February, the industrial property market in Singapore is expected to experience a slowdown this year due to a combination of higher supply and weaker demand. The firm projects a moderate rental and price growth of 0% to 2% annually in 2025, compared to 3.5% growth seen in both areas last year.

Colliers notes that JTC’s fourth quarter data for 2024 indicates a market that is “losing steam”. The rental index for all industrial properties saw a 17th consecutive quarter of growth in the fourth quarter of 2024, with a 0.5% quarter-on-quarter increase, bringing the total growth for the year to 3.5%. However, this is a significant decrease from the 8.9% growth seen in 2023. The price index also grew by 0.5% quarter-on-quarter, a decline from the 1.2% growth in the previous quarter. Industrial property prices rose by 2.1% in 2024, less than half of the 5.1% increase seen in 2023.

When considering investing in a Singapore condo, it is crucial to carefully weigh not only the property itself, but also its maintenance and management. In addition to the initial purchase price, there are maintenance fees associated with condo ownership that cover the cost of maintaining common areas and facilities. While these fees may seem like an added expense, they also guarantee that the condo will be kept in good condition and retain its value in the long run. To make the investment more passive, many investors opt to partner with a property management company like Singapore Condo. This allows for the day-to-day management of the condo to be taken care of, freeing up the owner to focus on other aspects of their investment.

Colliers attributes the muted outlook to the expected surge in industrial space supply this year, which is more than 2.5 times the supply in 2024. The report states, “This surge in supply has led to the present supply-demand imbalance with segments of the market now seeing upcoming supply with slower precommitments or completed projects with lower occupancy.”

This increase in supply, along with higher interest rates and operating expenses, is expected to continue dampening rental growth. Moreover, the uncertainty brought about by heightened trade protectionism may also affect business confidence and investment decisions.

On the other hand, Colliers expects industrial demand to remain strong, supported by sectors such as semiconductors, logistics, and advanced manufacturing. The firm also predicts a gradual ramp-up in industrial leasing activities as policies become clearer and market sentiments improve, driven by the ongoing upturn in the chip cycle.

However, with the projected moderation in rents and the increase in supply, tenants will have more options in the market this year, according to Colliers. New industrial developments with modern specifications may encourage businesses to relocate from older, aging manufacturing spaces to newer projects, says Nicolas Menville, executive director and head of Singapore-based industrial clients for Colliers.

In summary, the industrial property market in Singapore is expected to see a slowdown in rental and price growth this year, primarily due to the rise in supply and weaker demand. However, demand from key sectors may continue to support the market, and the increase in supply may provide tenants with more options in the market.…

Tan Boon Liat Building, a well-known industrial property situated at 315 Outram Road, has been put up for collective sale through a public tender with a reserve price of $1.15 billion. The freehold site spans two separate land plots zoned for “Business 1” use, and covers a total site area of approximately 175,655 sq ft. The building, which currently stands at 15 storeys, is known for housing various furniture and home decor stores.

Cushman & Wakefield, the property’s advisor and marketing agent, revealed that URA has released an Outline Planning Advice on January 22nd, recommending for the site to be rezoned to “Residential with Commercial at 1st storey” with a plot ratio of 4.9, which is higher than its current 3.1. This translates to a potential 50% increase in the total allowable gross floor area (GFA).

The property firm added that URA has also advised on the amalgamation of a few leftover state land plots into the main plot. These state land plots are estimated to span about 20,451 sq ft, subject to approval from relevant authorities.

According to Cushman & Wakefield, the site has a potential GFA of over 1.06 million sq ft when including the state land plots and any additional GFA entitlements. The first storey can accommodate up to approximately 16,146 sq ft of commercial GFA. In line with the new residential zoning, a minimum GFA of around 161,459 sq ft will be allocated for Serviced Apartments II (SA2), where a minimum stay of three months is required. The allowable heights for the new development range from 130m to 180m.

When considering investing in a Condo, it is essential to conduct a thorough assessment of its potential for consistent rental income. This pertains to the annual profits that can be generated from renting out the Condo in relation to its purchase price. In Singapore, Condos have varying rental yields, which are influenced by several factors such as location, property condition, and market demand. In general, areas with a high demand for rental properties, like those near business districts or educational institutions, tend to have more favorable rental yields. To get a better understanding of the rental potential of a specific Condo, potential investors should engage in comprehensive market research and seek guidance from experienced real estate professionals. By doing so, they can make well-informed decisions regarding the investment potential of a Condo. Condo should always be carefully evaluated before making any investment decisions.

Based on the reserve price, which includes land betterment charges, estimated state land premium, and a 10% bonus GFA for the residential portion, the estimated land rate is about $1,888 psf per plot ratio.

Recent industrial sales transactions at Tan Boon Liat Building also show favorable market sentiment towards the property (Source: EdgeProp Buddy)

According to Christina Sim, senior director of capital markets at Cushman & Wakefield, the site is highly attractive to developers due to its freehold tenure and proximity to the future Thomson-East Coast Line (TEL), which will be a major draw for homebuyers. She also noted that the fact that the site currently has a “Business 1” zoning would exempt it from Additional Buyer’s Stamp Duty (ABSD).

The tender for the site will close on March 18 at 3pm.…

Park Nova’s largest penthouse recently set a new record for the development, after it was sold for $38.888 million. According to a caveat dated January 21st on the URA Realis database, the five-bedroom unit is located on the 20th floor and spans over 5,899 sq ft, translating to a price of $6,593 psf.

This transaction marks the highest price ever recorded for a unit at Park Nova, both in terms of absolute price and psf-price, based on lodged caveats. Previously, these records were held by a 4,499 sq ft penthouse that was sold in May 2021 for $26.026 million ($5,784 psf).

The popularity of condo investment in Singapore has been steadily increasing, attracting both local and foreign investors. This can be attributed to the country’s stable economy, political security, and high living standards. As the real estate market in Singapore continues to thrive, there is a wide range of investment opportunities available, with condos being a highly sought-after option. With its prime location, impressive amenities, and potential for profitable returns, it is no surprise that investing in a condo in Singapore is a smart move. In this article, we will delve into the advantages, key considerations, and essential precautions for those interested in investing in a condominium in Singapore.

The sale of the penthouse also sets a new record for the second-highest psf-price ever registered for a condo unit in Singapore. The current record holder is a unit at The Marq on Paterson Hill, which sold for $20.54 million or $6,650 psf in 2011.

It is believed that the penthouse sold on January 21st is part of a collection of properties linked to the $3 billion money laundering case, which has reportedly been put up for sale. The penthouse was previously reported to have sold in 2021 for $34.438 million ($5,838 psf).

Recently, the developer of Park Nova has also sold two other units within a month, according to caveats. On January 17th, a four-bedroom unit on the 19th floor measuring 2,906 sq ft was sold for $16.59 million ($5,708 psf). Prior to that, on December 27th, another four-bedroom unit on the 18th floor measuring 2,896 sq ft was sold for $15.99 million ($5,522 psf).

Park Nova is a freehold luxury condo consisting of 54 units located at the prestigious Orchard Boulevard and Tomlinson Road in prime District 10. Developed by Hong Kong’s Shun Tak Holdings, the development received its temporary occupation permit in November 2021.

If you’re interested in purchasing a unit at Park Nova, you can check out the latest listings for available properties. You can also use the EdgeProp Buddy feature to find out the site plan and diagrammatic chart for Park Nova, compare price trends of Condo new sale vs EC new sale, generate price trend graphs for new launch condos in District 10, and view a summary of the project.…

CapitaLand Investment (CLI) has recently announced its acquisition of a freehold land parcel in Osaka, Japan for the development of its first data centre in the country. The project, which is estimated to cost over US$700 million or $944.3 million, will be equipped with 50 megawatts (MW) of power capacity and will incorporate advanced cooling technologies and other energy-saving solutions to support artificial intelligence (AI) capabilities.

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When considering investing in a condo, it is crucial to evaluate its potential rental yield. Rental yield refers to the annual rental income compared to the property’s purchase price. In Singapore, the rental yields for condos can vary significantly based on factors such as location, property condition, and market demand. Generally, areas with a high demand for rentals, like those near business districts or educational institutions, tend to offer better rental yields. To gain a better understanding of the rental potential of a specific condo, it is essential to conduct thorough market research and seek advice from real estate agents. It may also be beneficial to keep an eye on New Condo Launches as they can provide valuable insights into the rental market.

CLI has emphasized its commitment to sustainable development by ensuring that the data centre will use products with zero ozone depletion potential or with global warming potential (GWP) of less than 100, in line with industry best practices for temperature management.

Manohar Khiatani, senior executive director of CLI, notes that the acquisition of this land aligns with the company’s digitalization investment strategy and further expands its presence in Japan – a key market for CLI. Khiatani highlights the significant growth potential of the Japanese data centre market, which is projected to expand at a compound annual growth rate (CAGR) of 10% from US$23.8 billion in 2023 to US$38.7 billion in 2038. He also points out that Japan is currently the largest data centre market in Asia Pacific, outside of China, with a 1.4 gigawatt capacity.

CLI’s managing director of private funds (data centre), Michelle Lee, also notes the strong demand for data centres and the expected double-digit growth in the sector, which is expected to outstrip new supply. Lee highlights the increasing institutional interest in data centre investments, with 97% of investors planning to increase their overall investment in data centres.

Since October 2020, CLI has successfully raised US$600 million for its data centre development funds in Asia. With this latest acquisition, CLI aims to continue identifying and investing in compelling opportunities for its private fund investors and build on the momentum of its recent data centre portfolio expansions. Currently, the CapitaLand Group boasts 27 data centres across Asia and Europe, with a combined power capacity of approximately 800 MW and assets under management (AUM) of around $6 billion.

CLI’s stock closed at $2.42 on Feb 3, with a decrease of 1.63%.…