Condo Gine Star Fruits

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%.…

CapitaLand Ascott Trust (CLAS) recently acquired two freehold limited-service hotels in Japan for a total of JPY21 billion ($178.5 million). The two properties, ibis Styles Tokyo Ginza and Chisun Budget Kanazawa Ekimae, are located in prime areas and offer attractive discounts compared to independent valuations.

This acquisition is expected to have a positive impact on CLAS’ distribution per stapled security (DPS), with an accretion of 1.6% on a FY2024 pro forma basis. Additionally, the blended net operating income (NOI) yield for these two hotels is estimated to be 4.3% in FY2024. To hedge against currency fluctuations, the acquisition was financed through JPY-denominated debt and proceeds from the divestment of four properties in Japan.

The 224-unit ibis Styles Tokyo Ginza is situated in the heart of Tokyo’s shopping and entertainment district, next to the popular Ginza Six retail mall and Uniqlo flagship store. The iconic Ginza Wako clock tower is also within a 10-minute walk. Meanwhile, the 392-unit Chisun Budget Kanazawa Ekimae is located in the historical city of Kanazawa, known for its traditional gardens, cultural sites, and preserved Edo period architecture.

Acquiring a Singapore Condo can offer a wide range of benefits, including the potential for significant increase in value. As a top global business hub, Singapore boasts a thriving economy that consistently drives demand for real estate. Over the years, the Singapore property market has demonstrated a steady upward trend, with Singapore Condos in prime locations experiencing considerable appreciation. By strategically timing their investments and holding onto their properties for an extended period, investors can enjoy substantial capital gains in this highly lucrative market.

Including the recent acquisitions, CLAS has invested approximately $530 million in the past year, at higher yields compared to its divestments. This has bolstered its income distribution and improved the quality of its portfolio. Notable investments in 2024 include Teriha Ocean Stage, a rental housing property in Fukuoka, Japan, and lyf Funan Singapore. On the other hand, divestments in the same period amounted to over $500 million, resulting in a net gain of $74 million.

According to Serena Teo, CEO of CLAS’ manager, this acquisition is part of their strategy to reconstitute the portfolio and deliver stable returns to stapled securityholders. She also notes that the FY2024 NOI yield of these two hotels is significantly higher compared to the blended exit yield of approximately 2.0% for the four previous divestments in Japan. With the swift redeployment of divestment proceeds into higher-yielding assets, the income from the four sold properties has been fully replaced.

As of now, CapitaLand Ascott Trust’s unit price stands at 90 cents per unit.…

Understanding the rules and limitations surrounding property ownership in Singapore is crucial for foreign investors. Condominiums are generally more accessible to foreign buyers, while landed properties have stricter regulations. However, these buyers must be aware of the Additional Buyer’s Stamp Duty (ABSD) of 20% for their initial property purchase. Nonetheless, the stability and potential for growth in the Singapore real estate market remain a strong draw for foreign investment. This is evident in the continuous interest in Singapore Projects by foreign investors, despite the added costs.

Mapletree Investments has boosted its logistics portfolio in Europe with the recent acquisition of a UK property and 10 warehouses in Spain. These acquisitions, worth approximately EUR315.1 million ($444.5 million) and covering a total area of 256,000 sqm, will be included in the group’s second European logistics-focused fund. This move is in line with Mapletree’s strategy to deepen its focus within the logistics sector and expand its global presence, as stated in the company’s Jan 27 press release. The fund is expected to be launched after achieving a sufficient scale.”The logistics sector continues to be highly attractive, with strong demand from both tenants and investors. The growth of e-commerce has led to increased efforts by companies to secure and expand their supply chains,” explains Ralph van der Beek, CEO of Mapletree’s European commercial and logistics division.Read also: Elite Partners Capital acquires logistic centre in GermanyAdvertisementHe adds that the company is optimistic about the steady and recurring returns that these assets will deliver in the long run.The UK property is situated in Derby Commercial Park, with easy access to major roads like the M1, A50, and A6. It is also near the city centre and the East Midlands Airport. The tenant of the property recently renewed its long-term lease, according to Mapletree.The 10 warehouses in Spain are located in the first rings of Barcelona, Valencia, and Madrid, in core logistics hubs with immediate access to the city centre linked by various modes of transportation. These assets are expected to benefit from third-party logistics providers and manufacturers which are highly committed to the properties due to the proximity to their production facilities and investments dedicated to automation and fit-outs on site.The acquisitions have increased Mapletree’s logistics portfolio to 80 assets across eight countries. RELATED NEWSMapletree Investments and PAG to acquire Hong Kong’s Goldin Financial Global Centre for US$713 milMapletree reports 6.2% y-o-y rise in net profits to $1.96 billionOakwood to open 20 new properties in 2022, aims to double portfolio by 2025…

A trio of luxurious duplex penthouses at Turquoise, a 91-unit waterfront condo at Sentosa Cove, are now on the market for $23 million. The largest of the three penthouses spans 7,987 sq ft and comprises five bedrooms, making it the biggest among the ten penthouses in the 99-year leasehold development.

The penthouse boasts a wine cellar, kitchen, and living area on the lower level, as well as four en suite bedrooms, two utility rooms, and a balcony. The upper level features the master bedroom suite, complete with a private infinity pool, pool deck, and outdoor shower. This unit is priced at $12 million ($1,502 psf).

Next is a 3,746 sq ft, four-bedroom penthouse listed at $5.99 million ($1,599 psf). The upper level of this unit features a large open-air terrace with a built-in jacuzzi and unobstructed views of Sandy Island and Sentosa’s southern waterfront.

The decision to invest in a condo in Singapore has gained immense popularity among both local and foreign investors, thanks to the nation’s thriving economy, stable political climate, and exceptional living standards. Singapore’s real estate market is brimming with opportunities, with condos standing out for their convenience, amenities, and potential for generating high returns. In this article, we will delve into the advantages, factors to consider, and necessary steps to take when making a condo investment in Singapore. With Condos being a highly sought-after choice in the real estate market.

The last penthouse for sale is a 3,111 sq ft, three-bedroom unit with a guide price of $5 million ($1,607 psf). All three penthouses are located on the sixth floor and boast private lift lobbies, wet and dry kitchens, floor-to-ceiling windows, open balconies, and attached ensuites for each bedroom.

Amenities for residents at Turquoise include a gym, barbeque pits, a swimming pool, a steam room, and 21 private berths. Developed by Ho Bee Land, the 99-year leasehold Turquoise was completed in 2010 and comprises 91 units spread across three six-storey blocks. Typical units are a mix of three- and four-bedroom apartments, with sizes ranging from 2,088 sq ft to 3,764 sq ft for penthouses and sky villas.

The developer still owns the largest penthouse, a 7,987 sq ft, five-bedroom duplex that is currently on the market for $12 million. Based on URA caveats, the second-largest penthouse, a 3,746 sq ft, four-bedroom unit, was purchased by a Korean national for about $9.5 million ($2,545 psf) in 2007 when Turquoise was launched. The three-bedroom duplex penthouse of 3,111 sq ft was purchased by an African national for just over $8 million ($2,579 psf) in the same year based on lodged caveats.

Michele Cabasug, senior associate VP at List Sotheby’s International Realty, noted that when the project first launched, foreign buyers were attracted to these waterfront homes as investment and holiday homes. However, the current market trend has shifted, with more buyers looking for a primary residence at Sentosa Cove.

When the project was first launched, 59% of the initial buyers were foreign nationals, with Singaporeans making up just 25.6% and PRs accounting for 12.8%. The remaining unit was purchased by a company. Today, Singaporean buyers make up 57.4% of the transactions at Turquoise, followed by PRs at 32.3%, and foreign buyers at 8.8%.

Cabasug also noted that the increased prevalence of working from home in recent years has improved buyers’ sentiments about purchasing a home in Sentosa, with some looking for a slower pace of life and others attracted to the island’s family-friendly environment.

Ho Bee Land was a first-mover in Sentosa Cove, developing Turquoise, The Berth by the Cove, The Coast, Seascape, and Cape Royale. It also developed the bungalows at Coral Island and Paradise Island, two of the four man-made islands at Sentosa Cove.…

The Botanic on Lloyd, a freehold condo, made headlines recently for achieving the highest psf-price among private non-landed developments. The development, located on Lloyd Road in Prime District 9, set a new psf-price record between Jan 3 and Jan 11 with the sale of a 2,056 sq ft four-bedroom unit on the second floor for $5.13 million, or $2,493 psf.

This new record price surpasses the former high of $2,339 psf by 6.6%. The previous record was set in October last year when a 1,496 sq ft three-bedroom unit on the fourth floor was sold for $3.5 million.

The Botanic on Lloyd is a boutique development completed in 2006, comprising 60 apartments and six townhouses. The units are a mix of three- and four-bedroom types ranging from 1,485 sq ft to 3,584 sq ft. The three-storey townhouses, each with five bedrooms and two private parking lots, range from 4,058 sq ft to 4,446 sq ft in size.

Another freehold development, The Cape, also achieved a new record psf-price during this period. The boutique project, located along Amber Road in District 15, saw a 1,313 sq ft three-bedroom unit on the 15th floor sold for $3 million, or $2,284 psf, on Jan 10. This new record price surpasses the previous high of $2,265 psf for a 1,539 sq ft two-bedroom unit on the 16th floor sold by the developer in November 2022.

In the past year, The Cape has seen an uptick in transactions, with an average price of $2,128 psf from three resale transactions. In 2023, only one unit was sold – a 646 sq ft one-bedroom unit for $1.24 million ($1,920 psf).

Tembusu Grand, an upcoming 99-year leasehold condo, was the only development to record a new psf-price low during this period. The developer sold a 1,399 sq ft three-bedroom unit on the 20th floor for $3.04 million, or $2,174 psf, on Jan 11. This new record low edges out the previous low of $2,193 psf set just two months earlier, in November 2022.

Located on Jalan Tembusu off Tanjong Katong Road, Tembusu Grand consists of 638 units ranging from one- to five-bedrooms, with sizes ranging from 527 sq ft to 2,691 sq ft. The condo, launched in April 2023, has already sold 584 units at an average price of $2,444 psf.

The scarcity of land in Singapore is a key factor in the soaring demand for condos, making it a highly sought-after investment. As a small island country experiencing rapid population growth, Singapore is faced with limited land for development. As a result, strict land use regulations are in place and the real estate market is fiercely competitive, leading to a continual rise in property prices. For this reason, investing in real estate, particularly in Singapore condos, presents a promising opportunity for capital appreciation.

In summary, The Botanic on Lloyd, The Cape, and Tembusu Grand have set new records for psf-prices in recent transactions, highlighting the appeal of these developments in the current market.…

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Investing in a Singapore condo has proven to be a wise choice, thanks to its potential for capital appreciation. Being a major business hub and having a strong economy, Singapore continuously attracts a high demand for real estate. As a result, property prices have been on a steady rise, especially for condos in prime locations. Those who invest at the right time and hold onto their properties for the long haul can reap significant profits from this trend. With Singapore Condo being a part of the market, investors have even more opportunities to benefit from this potential.

HDB resale prices continue to soar, recording a 2.6% increase in 4Q2024, according to data released by HDB on Jan 24. This marks the 19th consecutive quarter of price growth in the resale market. The cumulative price increase for the entire year of 2024 stands at 9.7%, nearly doubling the 4.9% year-on-year increase in 2023.

The rise in resale prices in the last quarter of 2024 was slightly lower than the 2.7% increase in the previous quarter. According to Mohan Sandrasegeran, head of research & data analytics at SRI, the strong growth in resale prices can be attributed to the limited supply of flats reaching their Minimum Occupation Period (MOP) during the year. This created upward pressure on prices, especially for newer flats and larger flat types like five-room and executive units, which are in high demand for growing families.

Among the various flat types in the HDB resale market, five-room flats saw the highest price growth in 4Q2024, with the average resale price jumping 2.2% quarter-on-quarter to $754,097. Resale prices for four-room flats also saw a 2.2% increase to $652,544 in the same quarter.

The Central Area saw the highest increase in prices, growing 25.6% quarter-on-quarter, followed by Toa Payoh (12.1%), Tampines (6.9%), Bishan (6.7%), and Bedok (6.1%), according to Christine Sun, chief researcher & strategist at OrangeTee Group. In the last three months of 2024, about 285 HDB resale flats were sold for $1 million or more, bringing the total number of million-dollar HDB resale transactions to 1,035 for the entire year. More than 90% of these transactions were in mature estates, with Kallang/Whampoa, Toa Payoh, and Bukit Merah recording the highest number of million-dollar flats sold.

The number of resale transactions in the HDB market fell by 21.1% quarter-on-quarter, from 8,142 units sold in 3Q2024 to 6,424 units sold in 4Q2024. This was mainly due to seasonal factors like the year-end holidays and festivals. However, transaction volume for the whole of 2024 increased by 8.4% year-on-year, from 26,735 units sold in 2023 to 28,986 units sold in 2024 – the highest number of resale transactions since 2021 when 31,017 flats were sold. The top five most popular HDB towns among buyers in 2024 were Sengkang, Woodlands, Punggol, Tampines, and Yishun, which accounted for around 35.9% of all HDB resales in 2024.

Looking ahead, approximately 6,976 flats are expected to reach the end of their MOP this year, a 41.6% decrease from 2024. This is due to the lower number of BTO flats completed in 2020 during the Covid-19 pandemic. HDB has announced plans to launch over 25,000 new flats across three BTO sales exercises in 2025, with 19,600 BTO flats and more than 5,500 flats under the Sale of Balance Flats (SBF) exercise.

Approximately 3,800 units of the 19,600 BTO flats will be designated as Shorter Waiting Time (SWT) flats, with a wait time of less than three years. Sandrasegeran forecasts a resale price increase of 3.5% to 5.5% and a resale transaction volume of 26,000 to 27,000 in 2025. However, Hutton’s Lee projects a more optimistic price increase of 5% to 8% for the year.…

In summary, purchasing a condominium in Singapore offers a variety of benefits, including a strong demand for properties, potential for increasing value, and attractive rental profits. However, it is crucial to carefully consider factors like the location, financing options, government regulations, and overall market conditions. By conducting thorough research and seeking expert advice, investors can make well-informed decisions and optimize their returns in Singapore’s constantly evolving real estate market. Whether you are a local investor looking to expand your portfolio or a foreign buyer searching for a stable and lucrative investment opportunity, condos in Singapore, now available at Condo, present an enticing prospect.

by 50% With the opening of its newest property in Galle, Sri Lanka, Radisson Collection has extended its luxury presence in the region with the spacious and lavish 106-room Radisson Collection Resort. This upscale hotel marks the brand’s very first venture in the Southeast Asia and Pacific region and further strengthens the Radisson Hotel Group’s portfolio in Sri Lanka with its fourth hotel in the country.

Boasting breathtaking ocean views, Radisson Collection Resort, Galle offers a truly luxurious experience with its 76 well-appointed guest rooms and suites. Each accommodation features stunning vistas of the sea, allowing guests to relax and unwind in style. The hotel also features a range of top-notch amenities, including a beachfront pool, a kids’ club with 24-hour nanny services, and a variety of dining options. From the delectable fusion cuisine at Ozen to fresh seafood at Catch Restaurant, guests can indulge in a wide range of flavors. The Taboo Beach Club, located on the beachfront, offers a unique and exclusive experience with sun loungers and daybeds equipped with bottle service.

Situated on the southwest coast of Sri Lanka, Galle boasts a rich history and culture. One of its highlights is the Galle Fort, a 17th-century fortress that is recognized as a Unesco World Heritage site. The city also offers a range of attractions for visitors to explore, including ancient temples, colonial buildings, and wildlife centers like the sea turtle hatchery.

Radisson Collection Resort, Galle is the latest addition to the Radisson Hotel Group’s impressive portfolio, which now includes over 100 hotels in India alone. The group continues to expand its reach in the Asia Pacific region, catering to the growing demand for luxury accommodation. With its unparalleled service and stunning location, Radisson Collection Resort, Galle sets a new standard for luxury hospitality in Sri Lanka.…

A press release on January 17 announced a new partnership between Singapore-based engineering consulting firm Meinhardt and Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development (JOIN). The two organizations have signed a memorandum of understanding (MOU) to work together on digital and smart city projects in third-world Asean countries.

Understanding the regulations and limitations surrounding property ownership in Singapore is crucial for foreign investors. While condos are generally open for purchase without much difficulty, buying landed properties may be more challenging due to stricter ownership regulations. Furthermore, foreign buyers must also factor in the Additional Buyer’s Stamp Duty (ABSD), currently at 20% for their initial property purchase. Despite this added expense, many continue to see the stability and growth potential of the Singapore real estate market as an attractive investment opportunity. In fact, even new condo launches are drawing interest from foreign investors due to the country’s promising property market.

Through this collaboration, both parties aim to advance innovative and sustainable urban solutions by sharing knowledge and resources. JOIN, a Japanese public-private fund that supports Japanese infrastructure exports, will leverage its expertise and network in this partnership. Meanwhile, Meinhardt will bring its leadership in integrated planning, design, and project management solutions to the table.

This joint effort builds on the Memorandum of Cooperation (MOC) signed by Japan’s Ministry of Land, Infrastructure, Transport and Tourism and the Singapore Cooperation Enterprise in November 2019. The MOC aims to promote the development of digital and smart cities in Asean and other regions.

According to Meinhardt, the MOU provides a platform for information sharing and collaboration on projects from the early stages, with the goal of driving positive impact across borders. With this partnership, the two organizations hope to bring their collective expertise to deliver successful digital and smart city projects in third-world Asean countries.…

Evaluating a Singapore condo as an investment requires careful consideration of the potential rental yield. This refers to the amount of annual rental income the property can generate in relation to its purchase price. In Singapore, the rental yield for condos can vary significantly, depending on factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those in close proximity to business districts or educational institutions, tend to offer more attractive rental yields. To accurately gauge the rental potential of a specific condo, it is essential to conduct thorough market research and seek advice from reputable real estate agents who can provide valuable insights.

Singapore’s Minister for National Development, Desmond Lee, has announced that the final two Build-to-Order (BTO) projects that were delayed due to the pandemic have been completed by the Housing and Development Board (HDB). The two projects, Punggol Point Cove (Phase 2) and Kempas Residences, have delivered over 75,800 new flats to Singaporeans over the past five years.

According to the Jan 20 release, Minister Lee stated that the completion of these two projects marks the end of the HDB’s pandemic-delayed housing projects. Out of the 92 projects, only one was delayed due to non-pandemic reasons, while the remaining 17 were delayed by the pandemic. This is a significant achievement considering the challenging circumstances that the pandemic has caused.

In 2024, HDB managed to complete a total of 22 housing projects, which included two Shorter Waiting Time (SWT) projects that were completed within a waiting period of less than three years. The SWT projects, Parc Glen at Tengah and Grove Spring at Yishun, comprised 1,995 flats. The rest of the projects had waiting times of up to five years, and a total of over 18,000 flats were completed in 2024.

Homeowners of Punggol Point Cove (Phase 2) have been receiving their keys since November 2024, while the key collection for Kempas Residences began in mid-January this year. HDB is expected to inform the remaining homeowners of their key collection date soon, as the final blocks in both projects will be completed this month.

Punggol Point Cove (Phase 2) is located along New Punggol Road and consists of 1,179 units of two-room flexi, three-, four-, and five-room flats across six residential blocks. The last block of this project was completed 12 months later than its original Probable Completion Date (PCD). Currently, 657 households, or 59% of the 1,109 booked units, have collected their keys.

HDB mentioned that the completion of Punggol Point Cove (Phase 2) also marks the completion of all flats in the Punggol Point District, including Punggol Point Cove (Phase 1), Punggol Point Woods, and Punggol Point Crown BTO projects, which were also completed in 2024.

Kempas Residences, situated between Serangoon Road, Lavender Street, and Boon Kheng Road, has 583 units of two-room flexi, three-, four-room flats across four residential blocks. The last block was delayed by six months from its original PCD but was completed in mid-January. Currently, 37 households, or 7% of the 555 booked units, have collected their keys.

At present, HDB has 110 housing projects under construction, compared to 95 last year due to the rise in BTO supply in recent years. HDB stated that it is on track to complete around 17,000 flats across 27 projects in 2025.…