Condo Gine Star Fruits

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Knight Frank Singapore will be auctioning off a three-bedroom unit at Gambier Court, a boutique condominium located along Kim Yam Road in the prestigious River Valley area of District 9, on December 12. The guide price for the unit is $2.6 million, which translates to $1,755 per square foot based on its floor area of 1,485 sq ft.

According to caveats lodged, the current owner purchased the unit in a resale transaction for $1.8 million ($1,212 psf) in October 2018. This will be the second time the unit will be going up for auction, with its previous attempt at Knight Frank Singapore’s auction on November 26 featuring a higher guide price of $2.64 million ($1,778 psf), which failed to attract any bids.

Tricia Tan, director of auction and sales at Knight Frank, shared that the owner is selling the unit in order to relocate to a home closer to their children’s school. The property will be sold with vacant possession.

The eighth-floor unit features three bedrooms and a study area and was originally a four-bedroom apartment that was converted by a previous owner. Tan mentioned that the reconfigured space provides a more spacious layout, ideal for both local and expat families with children. The balcony of the unit faces northeast, offering unblocked views of the sea and Singapore River.

Comprising of 21 units, Gambier Court is a 99-year leasehold condominium that was completed in 1999. It consists of 18 apartments situated in a 10-storey block and three strata-landed units found in conserved shophouses. The apartments range from two- to four-bedrooms, with sizes ranging from 936 sq ft to 2,530 sq ft, while the three strata-landed units are two-storey properties with an attic, spanning from 2,562 sq ft to 2,885 sq ft.

The development is in close proximity to Fort Canning MRT Station on the Downtown Line and offers a variety of dining and shopping options, including the newly established lifestyle hub New Bahru at Kim Yam Road (formerly Nan Chiau High School), Robertson Quay, UE Square and Clarke Quay.

Singapore’s cityscape is known for its towering skyscrapers and contemporary infrastructure. In particular, condominiums are a prevalent sight in prime locations, offering a perfect combination of extravagance and convenience that attracts local residents and foreigners alike. These residential complexes boast a plethora of facilities including swimming pools, fitness centers, and top-notch security services, elevating the standard of living for residents and making them an alluring choice for potential renters and buyers. For investors, these luxurious amenities equate to higher rental returns and appreciation in property prices over time. To take advantage of these benefits, many individuals opt to invest in a Singapore Condo.

The most recent transaction at Gambier Court involved a four-bedroom unit on the seventh floor, measuring 1,485 sq ft, which was sold for $2.5 million ($1,683 psf) in December 2022, according to Realis caveats. The previous owner had bought the unit for $1.9 million ($1,279 psf) in August 2016, making a net profit of $600,000. Interested buyers can check out the latest listings for properties at Gambier Court.…

Gallop Gables, a freehold condominium, claimed the top spot for the highest psf-price between 19 and 22 November. In November 20, the four-bedroom unit on the second floor, sized at 2,669 sq ft, sold for $6.14 million, which works out to $2,299 psf. The initial seller, who bought the same unit on July 2017 for $4.5 million at $1,686 psf, making a whopping gain of $1.64 million on the transaction. The $2,299 psf psf high in November beat Gallop Gables’ previous record high of $2,108 psf with the sale of a two-bedroom unit on the third floor in February 2019 for $2.45 million.

The latest psf-price record of the freehold Gallop Gables was achieved from the sale of the apartment, sized at 2,669 sq ft, located at on Farrer Road, District 10, which sold for $6.14 million on November 20, 2021. The low-density development was completed in 1997, comprising of four-storey blocks consisting of 102 units right within walking distance from the Farrer Road MRT Station on the Circle Line. By the fourth quarter of November 20 and February 19, apart from the units sold from September 9, a 1,550 sq ft unit with two bedrooms on the first floor changed hands for $2.98 million, which works out to $1,923 psf. There were three resale transactions recorded this year at Gallop Gables at the average price of $2,110 psf, much higher than the average price from four transactions last year at the development which calculated to $1,991 psf. Additionally, the condo had previously yielded a record of $2,064 psf, which amounted to $380,000 net gain. In the first time, a unit had priced over $2,000 psf using the initial psf of $1,969 psf, which sold a 904 sq ft two-bedroom unit on the 11th floor, 1.78 million sold on September 9. It has seen a total of 16 resale transactions this year, priced at a value of $1,823 psf which is greater than the calculated averaged price of $1,688 psf recorded last year. The Scala condo on Serangoon Avenue 3 for the first time, achieved a new high on November 20 with the sale of the four-bedroom unit on the 12th floor at $2.6 million, which works out to $2,064 psf. In October 2012, this unit was bought at $1.66 million, which works out to $1,318 psf. The Scala is a 99-year leasehold condo which was built-in 2013, with units ranging from one- to four-bedroom, ranging in size from 474 sq ft to 2,142 sq ft. The 468 units spanned across 17 storeys between Lorong Chuan MRT station of Circle Line. It has been close to Lorong Chuan MRT Station of East-West Line, as well as the government educational institutions. In another district, as another freehold condo that also reached a new record of $1,907 psf, which was claimed in the period of review, Sims Edge, which was the sale of a 409 sq ft, one-bedroom unit on the 13th floor, amounted to $780,000 on November 22. Previously in April 2019, this seller had bought the unit at $663,807, which works out to $1,623 psf. Following The Scala for its past $1,900 psf record is Sims Edge, which achieved a $1,907 psf record. From the sale of a 409 sq ft one-bedroom unit on the fifth floor, $750,000 was sold on January 18. In another deal, from the developers in July 2011, the seller had bought the unit at $527,000, calculating to $1,288 psf. Sims Edge is a freehold condo situated on Geylang East Avenue 2 and was built in 2014, with 78 units comprising of one- to two-bedrooms, ranging at 409 sq ft to 1,195 sq ft. Another transaction has been recorded this year, priced at $1,800 psf, which is higher than the average calculated price of $1,644 psf for last year’s four transactions.There has been no new psf-price lows recorded during the period of review.

When contemplating an investment in a Singapore Condo, it’s crucial to also consider the potential rental yield. Rental yield refers to the annual rental income compared to the property’s purchase price. In Singapore Condos, rental yields can vary significantly, depending on factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, offer more desirable rental yields. To gain a better understanding of a specific condo’s rental potential, it’s essential to conduct thorough market research and seek guidance from reputable real estate agents.…

Investing in a condominium has various advantages, one of which is the option to leverage its value for additional investments. Numerous investors utilize their condos as collateral to secure financing for new investments, ultimately expanding their real estate portfolio. This approach can potentially enhance returns, but it also poses risks. Therefore, it is essential to have a solid financial plan and carefully consider the potential consequences of market fluctuations. To stay up-to-date with new opportunities, it is worth keeping an eye on new condo launches in the market.

The top condo resale transaction of the week occurred at Ardmore Park, with a four-bedroom unit measuring 2,885 sq ft fetching $11.25 million ($3,900 psf) on November 22. This represented a profitable resale deal for the seller, who had bought the unit in September 2016 for $8.2 million ($2,843 psf). The seller was able to earn a profit of $3.05 million, translating to a capital gain of 37% and an annualised profit of 4.6% over an eight-year holding period. This sale comes two months after another four-bedroom unit of the same size on the 23rd floor was sold for $12.7 million ($4,402 psf) on October 1. The seller had purchased this unit in September 2010 for $9.7 million ($3,363 psf), earning a profit of $3 million which reflects a capital gain of 30.9%.Ardmore Park is a freehold condo with 330 units located in the prime District 10 area of Ardmore Park. Completed in 2001, it comprises of three 30-storey towers and features mainly 2,885 sq ft four-bedroom units, with six 8,740 sq ft duplex penthouses. To date, there have been six profitable resale transactions this year, with prices ranging from $4,108 psf to $4,472 psf. The sellers have earned profits between $2.65 million and $7.07 million from these deals.The second most profitable condo resale transaction for the week was recorded at Goldenhill Park Condominium, with a four-bedroom apartment of 1,539 sq ft located on the 16th floor selling for $3.43 million ($2,228 psf) on November 21. The seller had purchased this unit directly from the developer in May 2001 for $1.14 million ($741 psf), resulting in a gain of $2.29 million or 201%. The seller had held this unit for 23 and a half years. This is the second-highest gain recorded at Goldenhill Park Condominium, with the highest being for a four-bedroom penthouse unit of 2,928 sq ft, which was sold for $4.3 million ($1,469 psf) in February 2022. The seller had purchased the unit in April 2001 for about $2 million ($683 psf) and earned a gain of $2.3 million.Goldenhill Park Condominium is a freehold development located on Mei Hwan Drive in District 20, off Ang Mo Kio Avenue 1. It was completed in 2004 with 390 units, comprising of two to four-bedroom apartments ranging from 926 sq ft to 2,928 sq ft. Five other profitable resale transactions have been recorded this year, with the units fetching between $2,082 psf and $2,246 psf, and the sellers earning profits of between $760,000 and $1.91 million.On the other hand, the week’s most unprofitable condo resale transaction took place at The Oceanfront @ Sentosa Cove, with a four-bedroom unit of 2,831 sq ft selling for $4.7 million ($1,660 psf) on November 20. This was a loss for the seller, who had purchased the unit in May 2007 for $5.8 million ($2,050 psf). This resulted in a loss of $1.1 million (19%) for the seller, after owning the unit for 17 and a half years. The Oceanfront @ Sentosa Cove is a condo within the exclusive Sentosa Cove residential enclave and is a 99-year leasehold development. Completed in 2010, it comprises of five towers between 12 and 15 storeys high with 264 units, consisting of two-to-four-bedroom apartments of 1,216 sq ft to 4,284 sq ft, and penthouses of 2,745 sq ft to 8,095 sq ft. There have been six other resale transactions at The Oceanfront @ Sentosa Cove this year, with the units sold for prices ranging from $1,500 psf to $1,999 psf. Four of these deals were unprofitable, with the sellers incurring losses between $30,000 and $519,000. The other two deals were profitable, with the sellers netting gains of about $268,000 and $1.7 million, respectively.…

Habyt, a leading co-living operator, has recently opened its newest accommodation space at 5 Kadayanallur Street in Tanjong Pagar. The new flagship space, called Kada at Maxwell, is part of Habyt’s new Habyt Flex concept, which expands the company’s offerings beyond long-term co-living.

In August, Habyt Asia Pacific CEO Jonathan Wong announced the company’s plans to provide more short-term living options in Singapore. The first properties under the Habyt Flex concept, Habyt Novena and Habyt Kallang, were launched in August. Other Habyt Flex properties include Habyt Cantonment and Owen House by Habyt.

Kada at Maxwell offers 18 rooms, including en suite studios and two- to three-bedroom units, all equipped with a kitchenette. Guests have the option to book rooms for a night, a week, or even on a 12-month basis.

According to Wong, Kada at Maxwell is a testament to Habyt’s commitment to redefine flexible living in Singapore and marks a new phase of development for Habyt Asia Pacific. Room rates at Kada at Maxwell start at $180 per night.

The flexible living space is located in a well-preserved 1920s colonial building designed by Swan & Maclaren, one of the earliest modernist buildings in Singapore. It was originally built as the St Andrew’s Mission Hospital for Women and Children.

In September 2023, the Singapore Land Authority (SLA) launched a public tender to lease the property. Bidders were evaluated based on the proposed concept and bid price, with SLA encouraging creative lifestyle concepts. The property was eventually awarded to Bethesda Medical, with a monthly rental bid of $103,000 – the third-highest bid price after Wan Dormitory ($160,000) and The Working Capitol ($108,240).

SLA cited Bethesda’s strong focus on community building and connecting people with businesses as the winning edge for their concept. The first floor of the building will feature 10 F&B offerings, while the second floor will have a gym operated by Limitless, a wellness centre in partnership with Shiruki Studio, and a co-working space. Kada at Maxwell will occupy the third floor.

Residents of Kada at Maxwell will have unlimited and complimentary access to the property’s health and wellness amenities, including a performance gym, cold plunge, infrared saunas, hot tubs, and foot baths.

Wong adds that by blending modern conveniences with the timeless charm of a heritage building, Habyt is offering guests a unique lifestyle experience that goes beyond traditional accommodation.

Condo investment in Singapore is a highly attractive option, but it’s important to take into account the government’s property cooling measures. Over the years, the Singaporean government has implemented various measures to discourage 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 individuals purchasing multiple properties. While they may impact the short-term profitability of condo investments, these measures ultimately contribute to the long-term stability of the market, creating a secure investment environment for individuals. With the inclusion of condos, these factors make Singapore a highly desirable location for property investment.…

The Urban Redevelopment Authority (URA) has recently released two residential sites, located at Holland Link and Chuan Grove, for tender on December 3rd. These sites, which are both 99-year leasehold and part of the Confirmed List in the 2H2024 Government Land Sale (GLS) Programme, are expected to yield a total of 785 new housing units.

The first site, located along Holland Link in District 10, spans 185,141 square feet and has an estimated maximum gross floor area (GFA) of 257,225 square feet. It is predicted to have the potential for about 230 residential units based on URA estimates. The site is situated in the upcoming Holland Plan precinct, one of URA’s three upcoming areas alongside Bayshore and Kampong Bugis. Marcus Chu, CEO of ERA Singapore, notes that this precinct is estimated to house about 2,500 new homes.

Chu anticipates developers to eagerly bid on the Holland Link site in order to gain a first-mover advantage by being the first to introduce 230 units into the pipeline. The site’s location within a 2-kilometre radius of several reputable schools, including Methodist Girls’ School (Primary and Secondary), Henry Park Primary School, Pei Hwa Presbyterian Primary School, and National Junior College, is also seen as a plus factor for families with young children looking for priority admission into these schools.

The Holland Link site is also in close proximity to the Brizay Park Good Class Bungalow area, leading to the prediction that its future development will focus on low-density private residences. Mark Yip, CEO of Huttons Asia, believes that the site will receive between one and two bids, with a top bid ranging from $1,200 to $1,300 per square foot per plot ratio (psf ppr). Similarly, Chu predicts a muted response to the site, with a possible maximum of three bids, as there are currently seven residential sites open for tender, potentially leading to saturation in the tender process.

The second site, located along Chuan Grove in District 19, spans 170,409 square feet and has an estimated maximum GFA of 511,232 square feet. It is expected to yield about 555 new housing units. The site is located within 400 metres of Lorong Chuan MRT Station on the Circle Line, which is one stop away from the Bishan MRT Station (interchange with the North-South Line) and the Serangoon MRT Station (interchange with the North-East Line).

Chu predicts that the future development on this site will attract HDB upgraders living in the vicinity. In the next four years, an estimated 3,815 four-room and larger Build-to-Order (BTO) units will fulfill their Mandatory Occupation Period (MOP) in Toa Payoh. Chu adds that residents in older HDB estates may seek to upgrade their homes due to the increasing number of million-dollar flats in neighbouring Serangoon, Bishan, and Toa Payoh. The median transaction prices for five-room flats in these areas over the last 10 months were $792,000 and $828,000, respectively.

When contemplating an investment in a Singapore condo, it is crucial to also evaluate its potential rental yield. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, rental yields 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 near business districts or educational institutions, tend to offer more favorable rental yields. Conducting thorough market research and seeking advice from real estate agents can provide valuable insights into the rental potential of a specific condo.

Chu also notes that the better-than-expected sales performance at Chuan Park, with 76% of its 916 units sold at an average price of $2,579 psf during its launch weekend, could also encourage developers to bid for the Chuan Grove site. He predicts that the bids for this site could range from $571 million to $600 million, which translates to a land rate upwards of $1,200 psf ppr. Yip, on the other hand, predicts a total of three to five bids for this site, with a top bid between $1,150 and $1,250 psf ppr.

Interested parties may submit their tenders for the Chuan Grove site until noon on July 8, 2025, and for the Holland Link site until noon on July 29, 2025.…

Under the Reserved List of the 2H2024 GLS Programme, the Urban Redevelopment Authority (URA) has released two residential Government Land Sale (GLS) sites on Dec 3. Developers can now apply for the Holland Plain and River Valley Green (Parcel C) sites and the government will trigger a sale if a developer indicates a minimum price that is accepted. In addition, a Reserved List site may also be considered for a tender launch if more than one developer submits a minimum price close to the government’s reserve price.

The Holland Plain GLS site spans approximately 169,175 sq ft and has a maximum gross floor area (GFA) of around 304,522 sq ft, which can potentially accommodate 280 residential units. This site has a 99-year leasehold and is located next to the Holland Link GLS site, which was recently launched for tender on Dec 3. The Holland Plain site property can accommodate an estimated 230 units.

According to Huttons Asia CEO Mark Yip, the response to the Holland Link GLS site will dictate the likelihood of the Holland Plain site being triggered for sale. He believes that developers would want to see how the market reacts before submitting a minimum price, and the tender for the latter site closes in July 2025.

Next to the Great World MRT Station on the Thomson-East Coast Line, the River Valley Green (Parcel C) site is a 99-year leasehold property that covers 123,964 sq ft, with a maximum GFA of 433,882 sq ft. This site can accommodate an estimated 470 new housing units.

Yip forecasts that the River Valley Green (Parcel C) site is also unlikely to be triggered for sale, given that there is an existing tender for the neighbouring River Valley Green (Parcel B) plot which will close in February next year. This site can potentially yield 580 units, including 220 long-stay serviced apartments.

The River Valley Green (Parcel A) was awarded to Winchamp Investment, a subsidiary of Wing Tai Holdings, in June after submitting the top bid of $464 million, or $1,325 psf per plot ratio (psf ppr). This site will be developed into a residential development with more than 400 units.

Investing in real estate is a strategic decision, and the location plays a crucial role in its success. This is especially true for the city-state of Singapore. When looking for a condo in Singapore, it is essential to consider its location carefully. Condos that are situated in central areas or close to important amenities like schools, shopping centers, and public transportation hubs have a higher chance of appreciating in value. Some of the prime locations in Singapore that have consistently shown growth in property values include Orchard Road, Marina Bay, and the Central Business District (CBD). Families also prioritize condos in these areas due to their proximity to good schools and educational institutions, making them highly desirable investments with excellent potential.

In April, Zion Road (Parcel A) was awarded to a joint venture between City Developments and Mitsui Fudosan after submitting the sole bid of $1.107 billion ($1,202 psf ppr). The joint venture intends to create a mixed-use project at the site, featuring around 740 residential units, a retail podium, and a block with 290 rental apartment units.

Meanwhile, Allgreen Properties clinched the Zion Road (Parcel B) site in August for $730.09 million ($1,304 psf ppr). This site is capable of accommodating approximately 610 residential units.

As there is already a significant supply of upcoming units from the three aforementioned sites, developers will likely have “little incentive” to trigger a sale for the River Valley Green (Parcel C) site, according to Yip.…

When it comes to investing in condos in Singapore, there is an important factor to consider: the government’s property cooling measures. Over the years, the Singaporean government has implemented various measures in order to control speculative buying and maintain a stable real estate market. One such measure is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those who are purchasing multiple properties. Although these measures may impact the short-term profitability of condo investments, they play a crucial role in ensuring the long-term stability of the market and creating a safer investment environment. This is why investing in a condo through Condo is a wise choice for investors in Singapore.

The newly launched Emerald of Katong has sold 99% of its 846 units over its first three days of sales, with an average price of $2,617 psf, according to caveats lodges. This means that only 13 units are left unsold, due to buyers backing out of their purchases during the launch. In response, a balloting session was conducted for these 13 units, with all of them taken up by interested buyers. This shows that the demand for this 99-year leasehold private condominium on Jalan Tembusu is high, and it has created a ripple effect on other nearby projects in the East Coast area of prime District 15. As of 30th November, a total of 825 units at Emerald of Katong have been sold. Advertisement advertisementThe two neighbouring projects that have been the biggest beneficiaries of this launch are the 638-unit Tembusu Grand, developed by City Developments Ltd (CDL) and MCL Land, and the 1,008-unit Grand Dunman by SingHaiyi. Since the start of November, Tembusu Grand has sold 52 units, with a total sales of 581 units (91%). Meanwhile, Grand Dunman has sold 18 units since 11th November, with cumulative sales of 731 units (72.5%).The third project that has seen a significant increase in sales is the 816-unit freehold The Continuum. Since 9th November, a total of 126 units have been sold, bringing the total sales to 528 units (64.7%) as of 30th November. This shows that the newly launched Emerald of Katong has boosted the sales for these three neighbouring projects, with The Continuum being the biggest beneficiary. This is because of its pricing, with an average of $2,788 psf. This is a 6.53% premium over the average price of $2,617 psf at Emerald of Katong. AdvertisementAlthough a total of 21 units at Emerald of Katong achieved prices ranging from $2,901 psf to $2,958 psf, a total of 13 caveats lodged at The Continuum showed prices exceeding $3,000 psf. These include 11 units that were sold this November, including nine two-bedroom, high-floor units and two small three-bedroom units. On the other hand, some three- and four-bedroom units ranging from 1,066 sq ft to 1,270 sq ft were sold at prices between $2,667 psf and $2,681 psf in The Continuum during the past month.Overall, there have been 2,805 units sold this November, which has already surpassed the previous peak of 2,793 monthly private new home sales recorded in March 2013. This will undoubtedly have a positive impact on the take-up rate of new homes in 2025. For instance, the Emerald of Katong has received over 800 cheques for just 13 units, which are sold out, meaning that unsuccessful buyers will now be seeking alternatives. This will boost the new home sales in the early months of 2025. This shows that November is shaping up to be a robust month for new home sales, which is expected to have a significant impact on the take-up rate of new homes in 2025. Check out the latest listings for Emerald Of Katong, Tembusu Grand, The Continuum properties.This article was first published in EdgeProp. Reproduced with permission.*The data provided is for reference only and does not constitute investment advice. Please seek independent advice before making any investment.…

Savills Research recently released its global outlook report for 2025 and found that Asia Pacific’s (Apac) real estate market continues to outperform its global peers. According to the report, Apac has seen its real GDP growth surpass that of the US and Europe, signaling a stable economic outlook for the region.

Paul Tostevin, Savills head of world research, says that for the first time in five years, there is more stability and conviction in the economic outlook, which will boost investment and activity in the real estate market.

In the first three quarters of 2024, Apac saw a 4% year-on-year growth in investment volumes, reaching a total of US$108.7 billion. The three markets that experienced the most significant growth in investment volumes were Singapore, South Korea, and Australia, with growth rates of 74%, 71%, and 63%, respectively.

Savills Research forecasts global real estate investments to rise 27% to US$952 billion in 2025, with global investment activity expected to surpass the US$1 trillion mark for the first time since 2022. The report also predicts that global investments will return to pre-pandemic levels by 2026, thanks to stabilizing interest rates and improved investor confidence.

Alan Cheong, executive director of research & consultancy at Savills Singapore, says that Singapore’s real estate market is expected to follow the global trend.

Meanwhile, Apac is expected to see a full recovery in real estate investments next year, driven by sectors such as tourism, living, and industrial sectors. These include logistics and data centers, which have seen a surge in demand due to the rise in e-commerce and digitalization. Simon Smith, Savills regional head of research & consultancy for Apac, says that while there are positive signs for a recovery in real estate investments in the region, the winners and losers will be determined by how global themes play out and who is best positioned to take advantage of them.

In summary, purchasing a Singapore condo presents a multitude of benefits, including high demand, potential for capital appreciation, and attractive rental yields. However, it is crucial to carefully assess various factors, such as location, financing options, government regulations, and market conditions. Through thorough research and seeking professional guidance, investors can make well-informed decisions and maximize their returns in Singapore’s ever-changing real estate market. Whether you are a local investor seeking to diversify your portfolio or a foreign buyer looking for a stable and profitable investment, Singapore Condo offers a compelling opportunity.

The office sector remains a top choice for investors in Apac, accounting for 37% of total regional real estate investment in the first three quarters of 2024, significantly higher than the global average of 23%. Singapore, China, South Korea, and Japan are the top cities in the region for office utilization, with occupancy rates exceeding 90%. Additionally, Apac has a strong presence of green-certified office spaces, as ESG matters become increasingly important for office occupiers.

Cheong notes that Singapore has also seen a slight recovery in activity levels, with more leases being concluded and CBD Grade-A space rental expected to remain firm from 2025 to 2026. As a hub and gateway to the region, Singapore is a popular destination for new overseas brands. The prime retail sector also continues to see healthy demand, keeping rental levels stable.

Despite cost pressures, demand for industrial spaces remains robust in key sectors like logistics, advanced manufacturing, healthcare, and data centers. This should help stabilize rental rates and capital values in the long term. Cheong also adds that the growing adoption of AI is leading to more data centers being built in Singapore, with many service providers using the city-state as a base to explore potential sites for infrastructure development.

Tostevin concludes by stating that as the global economy and real estate market return to sustained growth, the industry must adapt to changing legislative landscapes and geopolitical dynamics while maintaining sustainable and socially responsible development to meet the needs of a changing world. Savills also predicts that Apac will remain a top investment destination for family offices worldwide, as the region continues to outperform its global peers.…

Understanding the regulations and limitations regarding property ownership in Singapore is crucial for foreign investors. In comparison to landed properties, which have stricter ownership rules, foreigners are generally permitted to purchase condos with less restriction. However, they must be aware of the Additional Buyer’s Stamp Duty (ABSD) of 20%, which is applicable to their first property purchase. This extra cost is worth considering, given the stability and potential for growth in the Singapore real estate market, which continues to attract foreign investment. With its thriving real estate market, Singapore Condo remains a desirable option for foreign buyers.

Please find below the rewritten article:SINGAPORE (EDGEPROP) – The boutique development Hill House has emerged as the top performing condo between November 10 to 21, with a new psf-price high of $3,267. The developer sold a 452 sq ft, two-bedroom unit on the fifth floor for $1.48 million on November 11, setting a new record for the development.According to data, this new high is only 0.1% higher than the previous record of $3,263 psf set in November 2023. This was from the sale of a 624 sq ft two-bedroom unit on the ninth floor, which was sold for $2.04 million.The 999-year leasehold Hill House, located at Institution Hill off River Valley Road in District 9, has seen 11 transactions this year with an average price of $3,098 psf. This is slightly lower than the average price of $3,127 psf for the five transactions recorded last year.Search for the latest New Launches to find out the latest transaction prices and available units. The artist’s impression of Hill House, developed by Macly Group, which saw a record of $3,267 psf during the reviewed period (Photo: Macly Group)Launched in 2022, Hill House has 72 units, consisting of 40 one-bedroom and one-bedroom plus study apartments ranging from 431 sq ft to 452 sq ft. There are also 24 two-bedroom units measuring 624 sq ft and eight three-bedroom apartments of 753 sq ft.According to URA caveats, 29 units (40%) at Hill House have been sold at an average price of $3,060 psf since its launch in November 2022. The development is still under construction and is expected to be completed in the third quarter of 2026.Receiving second place on the record of condos with new psf-price highs is the freehold development, The Continuum, which achieved $3,084 psf for the sale of a 721 sq ft two-bedroom unit on the 17th floor on November 16. This transaction surpassed the previous record of $3,071 psf at The Continuum, from the sale of a 721 sq ft two-bedroom unit on the 16th floor for $2.22 million on November 15.The Continuum, located on Thiam Siew Avenue off Haig Road and Tanjong Katong Road in District 15, was launched in April last year. It has 816 units spread across six residential towers on two plots of land, connected by a private pedestrian overhead bridge. Available units range from one- to five-bedroom apartments spanning between 560 sq ft and 2,260 sq ft.A total of 489 units (59.8%) at The Continuum have been sold at an average price of $2,779 psf since its launch in May 2023. The development is still under construction and is expected to be completed by 2026.Read also: K Suites achieves new high of $2,443 psfMeanwhile, freehold boutique development Lavender Residence set a new psf-price low on November 17, with the sale of a 990 sq ft one-bedroom + studio unit on the second floor for $1.61 million. This translates to $1,626 psf.Compared to this, the previous record for Lavender Residence was $1,710 psf from the purchase of a 1,335 sq ft four-bedroom unit on the sixth floor for $2.28 million in June 2023. With this latest transaction, Lavender Residence has been fully sold for an average price of $1,984 psf.The 17-unit Lavender Residence is located at the junction of Lavender Street and Kempas Road in Boon Keng, District 12. The development incorporates three two-storey conservation shophouses built in the art-deco style in the 1940s. Its units range from studios to three-bedroom units, including dual-key variants, from 463 sq ft to 1,550 sq ft. The development is within walking distance of Bendemeer MRT Station on the Downtown Line. To find out more about the latest listings for Hill House, The Continuum, and Lavender Residence properties, simply ask Buddy. You may also compare the price trend for Condo new sale versus EC new sale and view sale transactions for Hill House. For more information on the most profitable transactions for Condo sale in District 9 and the most expensive average PSF for Condo projects in District 12, kindly visit EdgeProp.…

The government has announced a one-off property tax rebate for owner-occupied homes in Singapore. In 2025, HDB flat owners will receive a 20% rebate, while owners of private residential properties will receive a 15% rebate. However, the rebate for owners of private residential properties will be capped at $1,000.

Property tax is based on a property’s annual value, which is the estimated rental income it can generate in a year if it were to be rented out. This rebate was announced on November 29, as part of Budget 2024, which will see an increase in all annual value bands for owner-occupied residential properties from January 1 next year.

This move by the government is expected to result in lower property taxes for over 90% of private residential property owners and all HDB flat owners. The government’s aim is to alleviate the cost of living concerns among Singaporeans.

Lee Sze Teck, senior director of data analytics at Huttons Asia, predicts that the annual value of private properties will remain unchanged this year due to a marginal growth in private residential rents. On the other hand, HDB rents are expected to increase by 4%, which will lead to a rise in the annual value of HDB flats.

The one-off property tax rebate aims to help owners of HDB flats cope with any increase in annual value. For instance, if a HDB flat has an annual value of $30,000, the property tax payable in 2025 would be $720. However, with the 20% rebate, the owner would only need to pay $576, resulting in a savings of $144.

Private residential property owners could also benefit from the rebate. If the annual value of their property is $85,000, the property tax payable in 2025 would be $5,760. With a 15% rebate, capped at $1,000, the owner would pay $4,896, saving $864.

However, Lee stresses that the appeal of investing in residential properties in Singapore lies in the potential for capital appreciation, which outweighs the increase in property tax. He also adds that the government has offered property tax rebates before, and it has not affected the appeal of investing in residential properties in Singapore.

When contemplating an investment in a condo, it is crucial to also evaluate its potential rental yield. This refers to the annual rental income in relation to the property’s purchase price. In Singapore, rental yields for condos can differ greatly depending on factors such as location, property condition, and market demand. For instance, areas near business districts or educational institutions typically have higher rental demand, thus offering better rental yields. It is beneficial to conduct thorough market research and seek guidance from real estate agents for insights on the rental potential of a specific condo. For more information on Singapore projects, visit our website.

In summary, the one-off property tax rebate announced by the government for owner-occupied homes aims to alleviate the cost of living concerns among Singaporeans. This move is expected to result in lower property taxes for most private residential property owners and all HDB flat owners. However, the appeal of investing in residential properties in Singapore lies in its potential for capital appreciation, which far outweighs any increase in property tax.…