Condo Gine Star Fruits

CBRE has recently announced the appointment of Hugh Macdonald as the new head of capital advisors for Asia Pacific (Apac). Macdonald, who comes with over 20 years of experience in the banking industry, has a strong background in investment banking, particularly in the real estate, gaming, leisure, and lodging sectors. He was previously with Deutsche Bank, where he held the position of head of investment banking coverage and advisory for Australia and New Zealand.

Investing in a Singapore condo presents a plethora of benefits, making it a highly sought-after option in the real estate market. Its advantageous features include a robust demand, potential for significant appreciation in value, and promising rental yields. However, it is crucial to consider various factors, such as location, financing, government regulations, and market conditions, before finalizing a condo investment. By conducting thorough research and consulting with professionals, investors can make well-informed decisions and reap maximum returns in Singapore’s ever-evolving property market. With its stability and profitability, Singapore condos are a lucrative opportunity for both local portfolios diversification and foreign buyers seeking profitable investments. To learn more about Singapore condos, you can visit Singapore Condo.

In his new role, Macdonald will report to Leo van den Thillart, global head of investment banking, and Greg Hyland, head of capital markets for Apac. He will start his new position in Sydney before relocating to Singapore in the first quarter of 2025.

This news follows the recent appointment of Virginia Huang as the new managing director for north and east China at Knight Frank.…

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Investing in a condo in Singapore offers numerous advantages, one of the most noteworthy being the potential for capital appreciation. As a global business hub with robust economic fundamentals, Singapore attracts a constant demand for real estate. Over the years, property prices in the country have consistently shown an upward trajectory, with condos in prime locations experiencing significant appreciation. Savvy investors who carefully time their market entry and hold onto their properties for the long run can reap substantial gains from capital appreciation.

Emerald of Katong has recorded exceptional sales during its launch weekend, with 98.7% of its units (835 out of 846) sold by developer Sim Lian Group in just two days. The VIP sales on Nov 15 saw 47% of units (401) taken up, followed by another 434 units on Nov 16. The average price for units sold over the weekend stood at $2,621 per square foot (psf). Sim Lian Group declined to comment on the sales.

According to Mark Yip, CEO of Huttons Asia, “It probably holds the record for the most number of units sold in a day, besting J’Gateway’s 738 units in June 2013.” Only eleven units remain available at Emerald of Katong, consisting of nine one-bedroom units and two five-bedroom units. All two-, three-, and four-bedroom units have been sold out. Yip notes that buyers were particularly interested in larger units with either a study or flex layout, as they were likely purchasing for owner-occupation and needed the extra space to suit their lifestyle needs.

To get the latest information on available units and prices at Emerald of Katong, check out the advertisement for the development.

According to Lee Liat Yeang, the real estate senior partner of Dentons Rodyk & Davidson LLP, the developer’s lawyers, Emerald of Katong can be considered the top-selling project of 2024 in terms of both the number of units sold and the percentage sold during its launch weekend. The sales performance of the 99-year leasehold project, located at Jalan Tembusu in District 15, is particularly impressive as it was launched on the same weekend as two other projects.

Nava Grove, a 99-year leasehold development by MCL Land and Sinarmas Land, reportedly sold 359 units on Nov 16, representing 65% of its total units. On the same day, Novo Place, a 504-unit executive condominium (EC) at Plantation Close in Tengah, by joint developers Hoi Hup Realty and Sunway Developments, is said to have achieved a 57% sales rate. These three projects conclude an unprecedented six new residential projects (including the EC project) launched over the past fortnight.

“We were initially concerned that launching six projects within 14 days might result in some of them being overshadowed by others,” says Ismail Gafoor, CEO of PropNex. However, he adds, “with 3,551 units on offer, homebuyers had the opportunity to visit all the developments before choosing their preferred one.” Gafoor believes that having multiple options in a short period of time actually helped buyers make decisions more quickly, and that the interest may not have been as intense if the launches had been spread out over two months. He also points out that Kingsford Group moved forward the launch of the 916-unit, 99-year leasehold Chuan Park to Nov 10 from Nov 16, also helping to draw more interest to the various projects.

Nava Grove achieved a sales rate of 65% during its launch weekend, at an average price of $2,448 psf. Meanwhile, Chuan Park, which sold 696 units (76% of its total units) in a single day, recorded an average price of $2,579 psf.

One of the factors contributing to the strong sales at Emerald of Katong was the developer’s decision to hold prices steady throughout its launch day, despite the overwhelming response. A total of 3,629 expression of interest (EOI) cheques were collected, which translates to the project being 4.3 times oversubscribed. “Sim Lian did not raise their selling prices from the initial price list,” says Gafoor. “It reassured buyers and their agents that they still had an opportunity to secure a unit at the same price, even if their queue number was as high as 3,000.”

According to figures from caveats lodged, District 15 has always been among the top districts to live in Singapore, notes Yip. “The East Coast lifestyle and the limited number of large projects attracted buyers to Emerald of Katong,” he says. Yip adds that compared to other new projects in the Rest of Central Region (RCR), which have a median price of $2,955 psf, the starting price for units at Emerald of Katong, which starts from $2,423 psf, is very attractive. Marcus Chu, CEO of ERA Singapore, agrees, saying that buyers who were unable to secure a unit at Emerald of Katong turned to other major condo projects in the vicinity, notably the three projects launched last year: the 1,008-unit, 99-year leasehold Grand Dunman; the 638-unit, 99-year leasehold Tembusu Grand; and the 816-unit, freehold The Continuum. “All three recorded good sales on Saturday,” according to Huttons’ Yip. From Nov 11 to 16, The Continuum is reported to have registered 22 new sales, while Tembusu Grand saw 12 units sold, and Grand Dunman recorded five new sales.

Huttons’ Yip attributes the strong sales momentum to “better economic growth and cuts in interest rates”, which have attracted more buyers to the new homes market due to their improved borrowing capacity. He adds that lower returns from other investment assets may have encouraged more buyers to consider property as a preferred investment.

Huttons estimates that developers’ sales in November will reach up to 2,200 units, approaching the levels recorded in March 2013, when 2,793 units were sold. On-the-ground observations also indicate a growing number of prospective local and foreign buyers utilizing trust structures to acquire homes for their children, notes Yip. He believes that this trend reflects rising wealth among local buyers and an influx of overseas funds into Singapore. According to figures from the Monetary Authority of Singapore (MAS), the number of single-family offices grew to 1,650 as of August 2024, which is an increase of 250 from the end of 2023. During the same period, the M1 money supply, which includes cash, demand deposits, and other liquid deposits, rose by $10.2 billion in the first nine months of 2024.…

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Novo Place saw strong sales on its launch day, with 57% of units sold at an average price of $1,654 psf. The 504-unit executive condo (EC), jointly developed by Hoi Hup Realty and Sunway Developments, opened bookings on Nov 16. According to Mark Yip, CEO of Huttons Asia, the high take-up rate reflects the strong demand for affordable private residential options. However, the presence of a 30% quota for second-timer buyers may have affected sales numbers.

The split between first-time buyers and second-timers was 47% and 53%, respectively. Yip suggests that the government may want to consider increasing the quota for second-timers, as the balloting for this group in a month’s time is expected to also see high demand. For those unfamiliar, second-timers refer to those who have previously purchased subsidized housing, such as a new or resale HDB flat or an EC.

In regards to Novo Place, the quota for second-timers was fully taken up by 1 pm on launch day, says Ismail Gafoor, CEO of PropNex. However, he adds that these buyers will have another opportunity to book units 30 days later when the quota is lifted. This will allow them to make bookings starting from Dec 16. Out of the 287 units sold, 76% of buyers opted for the deferred payment scheme, while the remaining 24% chose the normal payment scheme, according to Huttons.

One of the biggest advantages of buying an EC is the option of a deferred payment scheme, which allows homebuyers to secure their preferred unit first and service the loan later. According to Yip, this is particularly helpful for HDB upgraders who still have an outstanding loan on their flat. Additionally, purchasing a new EC also grants buyers upfront remission on the Additional Buyer’s Stamp Duty (ABSD). This means that HDB upgraders can continue to stay in their current flat and sell it within six months of collecting the keys to their new EC unit.

Located in Tengah’s Plantation district, Novo Place is situated within walking distance to the upcoming Tengah Park MRT Station, expected to be completed by 2028. The EC project comprises seven 18-storey residential blocks and offers a mix of three- to four-bedroom plus-study units. The three-bedroom plus-study units have been 97% sold, while the four-bedroom units have been fully sold. The four-bedroom plus-study units have seen more than half sold. These sales figures line up with the demand from HDB upgraders who are looking for larger living spaces and more flexibility in terms of space usage, notes Yip.

Novo Place is the second EC project to be launched this year. The first, the 512-unit Lumina Grand at Bukit Batok West Avenue 5, was launched in January and has seen an 84% take-up rate to date, at an average price of $1,510 psf. According to Eugene Lim, key executive officer of ERA Singapore, with future EC launches expected to be priced even higher due to rising land and construction costs, current buyers are in a more advantageous position.

Last 10 transactions at Lumina Grand

Source: EdgeProp

The demand for investing in Singapore’s condo market has skyrocketed in recent years, with both local and foreign investors seeking to take advantage of the city-state’s stable economy, political stability, and exceptional quality of life. With an array of opportunities available in Singapore’s real estate market, condos stand out as a top choice due to their convenience, amenities, and potential for strong returns. Therefore, it is no surprise that more and more investors are looking to put their money into Singapore’s condo market, with the aim of reaping the benefits that come with it. For those considering this option, here are the key advantages, important considerations, and necessary steps to take when investing in a condo in Singapore. Additionally, researching and exploring various Singapore Projects can provide further insight and opportunities for potential investors.

With limited EC supply and rising prices, it is not surprising that Novo Place has seen a strong take-up rate on its launch day. As such, it is expected that more EC projects will be launching in the near future, further testing the market’s strength.…

REDAS (Real Estate Developers’ Association of Singapore) recently celebrated its 65th anniversary with a grand dinner on Nov 15 at the Marina Bay Sands ballroom, with President of Singapore Tharman Shanmugaratnam as the guest of honour. In his welcome speech, REDAS president Tan Swee Yiow stated that turning 65 holds significance for some as they become eligible to receive Central Provident Fund (CPF) retirement payouts.

REDAS was originally founded in 1959 as the Singapore Land and Housing Developers’ Association, six years before Singapore gained independence. Its visionary founders played a crucial role in shaping the country’s real estate landscape. Among them was the late Lee Kim Tah, founding chairman of the Lee Kim Tah Group, which was initially a materials supplier to the British army before becoming a renowned contractor and developer responsible for numerous iconic buildings in Singapore. Another pioneer was Lee Chin Chuan, who established Hotel Royal in 1968 and served as executive chairman and director until his passing in 2018. Tay Beng Swee, a private property developer who started his business in 1962, was also one of the founding pioneers.

These pioneers played a significant role in laying the foundation for Singapore’s growth, as Tan pointed out. He emphasized that real estate is not just about shaping the physical landscape, but also about driving social progress and creating job opportunities. According to Tan, the industry contributed approximately $20 billion to Singapore’s GDP last year, employing 16% of the workforce and providing 602,000 jobs.

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The demand for condos in Singapore remains high due to the limited land availability on the small island nation. With a rapidly increasing population, Singapore faces challenges in finding space for development. As a result, strict land use regulations and a competitive real estate market have caused property prices to continuously rise. This situation has made investing in real estate, especially in condos, a profitable opportunity with the potential for capital appreciation. Keep an eye on the latest condo launches for more options in the market.

Over the years, the real estate industry has constantly evolved and contributed to Singapore’s growth and development. From early skyscrapers to iconic projects such as Golden Mile Complex, OCBC Centre, Raffles City, The Fullerton Hotel, and South Beach, the industry has consistently shaped the city’s skyline to meet its growing needs. Tan also mentioned how developments such as Marina Bay and Jewel Changi Airport have helped to establish Singapore as a global financial hub and popular destination.

He further highlighted that the industry has gone beyond just providing physical space and has been at the forefront of incorporating sustainable and environmentally-friendly designs into their projects. These projects have gained international recognition and set new standards, reinforcing Singapore’s commitment to responsible and forward-thinking development.

At the REDAS anniversary dinner, the Lifetime Achievement Award was given to Chia Ngiang Hong, group general manager of City Developments Ltd (CDL). This prestigious award recognizes individuals who have made lasting contributions to the community, environment, and REDAS.

Chia has spent 45 years at CDL and has worked closely with three generations of the Kwek family, including the founder, the late Kwek Hong Png, the current executive chairman, Kwek Leng Beng, and the group CEO, Sherman Kwek. During his acceptance speech, he expressed his gratitude for their support and credited their passion for real estate and entrepreneurial spirit for shaping his career.

Chia also shared how Kwek Leng Beng, a patron of REDAS, brought him into the association in the mid-1980s, amidst the Pan-El crisis. He has been actively involved with the REDAS Council for over 30 years, serving two terms as president from 2019 to 2020 and 2021 to 2022, during the challenging Covid-19 period.

Despite the difficulties faced by the industry during this time, Chia believes that it was a rewarding experience to work closely with stakeholders and the government in providing guidance and weathering the storm together. He also expressed confidence in the potential of the future generation to continue leading the transformation and growth of Singapore with purpose, upholding the values that have guided REDAS.…

The Real Estate Developers’ Association of Singapore (REDAS) recently celebrated its 65th anniversary, a significant milestone for the organization. According to REDAS President Tan Swee Yiow, turning 65 holds special meaning as it coincides with receiving retirement payouts from the Central Provident Fund (CPF) for some members. The anniversary dinner, which took place on November 15 at the Marina Bay Sands ballroom, was graced by President of Singapore Tharman Shanmugaratnam as the guest of honor.

REDAS was originally established in 1959 as the Singapore Land and Housing Developers’ Association, six years before Singapore gained independence. Its founding members were forward-thinking developers who played a crucial role in shaping the nation’s real estate landscape. Among them was the late Lee Kim Tah, founding chairman of the Lee Kim Tah Group, a family business that started as a materials supplier to the British army in the 1920s and later transitioned into a prominent contractor and developer responsible for some of Singapore’s iconic buildings. Another notable founder was Lee Chin Chuan, who established Hotel Royal in 1968 and served as its executive chairman and director until his passing in 2018. The third pioneer, Tay Beng Swee, was a private property developer who founded his business in 1962.

Understanding the regulations and limitations surrounding property ownership in Singapore is crucial for foreign investors. Unlike landed properties, which have more stringent ownership rules, foreigners can generally purchase condos with relatively few restrictions. However, they are subject to the Additional Buyer’s Stamp Duty (ABSD) of 20% for their initial property acquisition. Despite this added expense, the Singapore real estate market’s stability and potential for growth make it a desirable investment destination for foreign buyers. This is evident from the continued influx of foreign investments in Singapore Condos.

Tan acknowledges the pivotal role these pioneers played in laying the foundation for Singapore’s growth. He emphasizes that real estate is central to nation-building, not just in shaping the physical landscape, but also in driving social progress and creating jobs. According to Tan, the real estate industry contributed nearly $20 billion to Singapore’s GDP last year, employing 16% of the workforce and providing 602,000 jobs. From early skyscrapers to iconic landmarks like Golden Mile Complex, OCBC Centre, Raffles City, The Fullerton Hotel, and South Beach, the real estate industry has consistently shaped Singapore’s skyline to meet the city’s evolving needs.

Tan also points out that the industry has evolved beyond just providing physical spaces. From landmark eco-friendly designs to world-record-breaking green spaces, real estate projects have gained international recognition, setting new standards and reinforcing Singapore’s commitment to responsible and forward-thinking development. As such, the REDAS Lifetime Achievement Award was conferred upon Chia Ngiang Hong, Group General Manager of City Developments Ltd (CDL) for his lasting contributions to the community, environment, and REDAS.

In his acceptance speech, Chia, who has dedicated 45 years to CDL, humorously remarks that many have asked how he has managed to “survive” at the company for so long. He credits the passion for real estate and entrepreneurial spirit of the three generations of the Kwek family he has worked with at CDL, including founder the late Kwek Hong Png, current Executive Chairman Kwek Leng Beng, and Group CEO Sherman Kwek. He also acknowledges Kwek Leng Beng, a patron of REDAS, for bringing him into the association. Chia first joined REDAS in the mid-1980s during the Pan-El crisis when he was invited to assist one of its subcommittees under the Ministry of Finance’s Property Market Consultative Committee (PMCC).

Chia has since been actively involved with the REDAS Council for over 30 years and has also served as president for two terms, from 2019 to 2020 and 2021 to 2022, during the challenging Covid-19 period. Reflecting on the past year, he says it was a difficult time for the industry, but also a rewarding experience as he worked closely with stakeholders and the government to guide the sector through the confusion and chaos. He believes the future holds boundless potential for the real estate industry, and the next generation will continue to uphold the values that have guided REDAS and lead Singapore’s transformation and growth with purpose.…

Tuan Sing Holdings, a Singapore-listed property developer and investment firm, has unveiled plans to reconstruct its mixed-use properties located at 121-131 Collins Street and 23-25 George Parade in Melbourne. The company’s wholly-owned subsidiary, Grand Hotel Group (GHG), has appointed Hong Kong-based urban design firm Urbis Ltd to submit a Town Planning Application for the proposed redevelopment to the City of Melbourne.

At present, the properties are home to the 550-room Grand Hyatt Hotel and various retail spaces. With the redevelopment, the existing podium structure will mainly be retained, allowing tenants and the Grand Hyatt Hotel to continue their business operations as usual. However, there will be modifications to the façade, extensive refurbishment, and reconfiguration of spaces in the property’s podium from levels 4 to 9B, according to Tuan Sing’s announcement on Nov 14.

The growing popularity of Singapore Condos can be attributed to various factors, but one of the main driving forces is the limited availability of land. As a small island country with a rapidly increasing population, Singapore is faced with the challenge of scarcity in land for development. As a result, there are stringent land use policies in place and a highly competitive real estate market, leading to continuously rising property prices. This makes investing in real estate, specifically condos, an attractive option for potential investors, with the promise of significant capital appreciation.

Upon completion, and subject to regulatory approvals, the site will offer approximately 909,550 sq ft in total gross floor area (GFA) and introduce a new luxury retail and F&B precinct. Tuan Sing’s CEO, William Liem, says, “The podium redevelopment at 123 Collins Street will redefine connectedness and activation at one of the most prominent intersections in Melbourne’s storied Paris End.” He further adds, “With the right approach, this transformation can serve as an architectural statement of our commitment to environmental stewardship. By reimagining instead of rebuilding, we are pursuing a sustainable vision that will support a thriving, connected, and culturally vibrant Melbourne for generations to come.”

If you are looking to invest in overseas properties, Tuan Sing’s project may be worth exploring. With properties available for sale around the world, you can find the perfect investment opportunity that suits your needs. So don’t miss out on this exciting development and stay updated on its progress.…

EDGEPROP – On November 27, SRI will be auctioning a two-storey HDB shophouse located at Bukit Merah Central. The shophouse, which has a floor area of 1,582 sq ft, has a guide price of $2.55 million ($1,612 psf).

According to Eric Liew, manager of auction sales at SRI, this is the first time the property is being put up for auction, as the owner is looking to sell the property to liquidate their investment.

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The purchase of a Singapore condo holds numerous advantages, with one of the most notable being the potential for capital appreciation. As a highly coveted global business hub with a strong economic foundation, Singapore is constantly in demand for real estate. This has resulted in a consistent and steady rise in property prices, particularly for condos situated in prime locations. By strategically entering the market at the right time and holding onto the property for an extended period, investors can reap significant financial gains.

The shophouse has a remaining lease of 59 years and a tenure of 103 years from 1980. The ground floor, occupying 732 sq ft, is zoned for commercial use, while the upper floor, occupying 850 sq ft, is zoned for residential use.

Currently, the shophouse is fully tenanted and will be sold with its existing tenancies. The ground floor is leased to a Domino’s Pizza restaurant until 2026, while the upper floor is leased to a residential tenant until 2027.

As HDB shophouses are considered commercial property, foreigners are eligible to purchase the shophouse. However, additional buyer’s stamp duty will be payable on the residential component and the commercial component will be subject to the goods and services tax.

The shophouse has received several enquiries from interested parties, mostly investors attracted to its central location in Bukit Merah, says Liew.

The Bukit Merah Town Centre, where the shophouse is situated, comprises a cluster of buildings with various amenities such as shops, Bukit Merah Polyclinic, and Bukit Merah Central Food Centre. Nearby, there is also Rubikon, a four-storey boutique convention centre, and Gateway Theatre, a performing arts centre.

The shophouse is within walking distance to the Bukit Merah bus interchange, Gan Eng Seng Primary School, and Bukit Merah Secondary School. The Redhill MRT Station is about a 15-minute walk away.

According to data from EdgeProp Research, the most recent commercial transaction at 161 Bukit Merah Central was in March 2021, where a 1,582 sq ft shophouse was sold for $1.5 million ($948 psf).

As of November 2021 the latest commercial rents at Bukit Merah Central are displayed in the table below.

In summary, the two-storey HDB shophouse at Bukit Merah Central will be up for auction on November 27 by SRI with a guide price of $2.55 million ($1,612 psf). It is currently fully tenanted and has received interest from investors for its central location.…

Tuan Sing Holdings, a leading Singapore-listed property developer and investment company, has recently announced plans to reconstruct its mixed-use properties located at 121-131 Collins Street and 23-25 George Parade in Melbourne.

According to the company, its wholly-owned subsidiary, Grand Hotel Group (GHG), has appointed Hong Kong-based urban design firm Urbis Ltd to submit a Town Planning Application to the City of Melbourne for the proposed works.

Investing in a condo in Singapore comes with numerous benefits, one of which is the potential for significant capital appreciation. The country’s strategic position as a global business hub, along with its strong economic foundations, ensures a continuous demand for real estate. In recent years, the property prices in Singapore have consistently shown an upward trend, with prime location condos experiencing substantial appreciation. For investors, timing is crucial as buying at the right time and holding onto their property for the long term can result in substantial capital gains. Additionally, keeping an eye on new condo launches can provide valuable opportunities for investment and further potential for capital appreciation.

These properties currently house the Grand Hyatt Hotel with 550 rooms, as well as various retail spaces. The reconstruction project will involve the retention of much of the existing podium structure, allowing business operations for tenants and the hotel to continue uninterrupted.

The main focus of the project will be on façade modifications, extensive refurbishment, and reconfiguration of spaces in the existing podium from levels 4 to 9B, as announced by Tuan Sing on November 14th.

Upon completion and subject to regulatory approvals, the site will boast a total gross floor area (GFA) of approximately 909,550 square feet and will feature a new luxury retail and F&B precinct.

According to William Liem, CEO of Tuan Sing, the redevelopment of the podium at 123 Collins Street will bring about a new level of connectedness and activation at one of the most prominent intersections in Melbourne’s esteemed Paris End.

He also emphasized the importance of sustainability in their approach to the project, stating that by reimagining the existing structure rather than rebuilding it, they are pursuing an inherently sustainable vision that supports the prosperity and cultural vibrancy of Melbourne for future generations. Investors looking to expand their property portfolio globally can explore the various projects available for sale around the world.…

The quarter also saw an increase in shophouse rentals, with a 2.6% q-o-q uptick in gross rental yield in 3Q2024, compared to a 1.8% decline in the previous quarter. This marks the third consecutive quarter of rental increase since 1Q2024.

SINGAPORE (EDGEPROP) – Despite a slight dip in the number of caveated transactions, the shophouse market continued to attract strong interest in 3Q2024, according to the latest quarterly shophouse market report by Huttons Asia, published on Nov 12.

The number of caveated shophouse transactions dropped from 21 in 2Q2024 to 18 in 3Q2024, with a total transacted quantum of $138.9 million. This is a 28.8% decrease from the previous quarter’s $195.1 million. On a year-on-year (y-o-y) basis, the figure was half of 3Q2023’s transacted quantum of $278.6 million.

Caveats show that 62 shophouses were sold in the first nine months of 2024, marking a 46.1% y-o-y decline compared to the same period last year. The total value of transactions for the first three quarters of 2024 is $519 million, down by 48.5% from the same period in 2023.

Read also: Indon tycoon Bachtiar Karim’s family office Invictus Developments buys lyf Ginza Tokyo for $93 mil

Investing in a condo in Singapore presents a promising opportunity for capital appreciation. This is mainly due to Singapore’s advantageous position as a global business hub, with a robust economy that consistently drives demand for real estate. Over time, the housing market in Singapore has consistently displayed an upward trajectory, with condos in highly desirable locations experiencing substantial appreciation. For investors who strategically purchase property at the opportune moment and retain it for a long period, the potential for significant capital gains is high. Singapore Projects serve as a testament to the city-state’s thriving real estate market.

Despite the dip in transaction figures, Huttons’ report notes that several shophouse deals were not caveated in 3Q2024. “According to market sources, shophouses along Amoy Street, Neil Road, and Telok Ayer Street in Districts 1 and 2 were reportedly sold,” says Lee Sze Teck, senior director of data analytics at Huttons Asia. The estimated quantum for these shophouses exceeds $70 million, he adds.

These deals are a testament to the demand for shophouses, which has seen an uptick in recent months, according to Lee. “Investors are drawn to this market segment for its scarcity and potential for strong capital gains. With interest rates falling in the past few months, shophouses have become more popular as a wealth creation and preservation asset.” He also predicts that shophouse transaction volume and quantum may rise in 4Q2024.

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The quarter also saw an increase in shophouse rentals, with a 2.6% q-o-q uptick in gross rental yield in 3Q2024, compared to a 1.8% decline in the previous quarter. This marks the third consecutive quarter of rental increase since 1Q2024.…

CapitaLand Development (CLD) has received a warm reception for its two highly-anticipated projects in Vietnam. The developer recently commenced an exclusive preview of Orchard Hill, a 774-unit high-rise development, on October 26. Located in Binh Duong New City, approximately 30km from Ho Chi Minh City, Orchard Hill is the second phase of Sycamore, a joint venture between CLD and United Overseas Australia. The project, which offers a mix of low-, mid-, and high-rise developments, has already seen bookings for 694 units, or 90% of its total. The most sought-after units are the one- and two-bedrooms, with completion expected in the fourth quarter of 2026.

The scarcity of land in Singapore is one of the key factors driving up the demand for condos in the country. As a small island with a quickly expanding population, Singapore is facing challenges in finding available land for development. Thus, strict land use regulations and a competitive real estate market have led to consistently rising property prices. As a result, investing in real estate, particularly in condos, has become an appealing opportunity with the potential for significant capital appreciation.

The success of Orchard Hill is followed by the exclusive preview of The Senique Hanoi, a high-rise residential project with 2,150 units in East Hanoi. Developed in collaboration with Mitsubishi Estate and Nomura Real Estate Development, the project has already achieved bookings for 92% of its units. Set to be completed in 2027, The Senique Hanoi has seen a robust response from buyers. This success comes after the recent launch of the final phase of Lumi Hanoi, another CLD residential mega-development, in October. The 697 units released for sale were almost fully taken up, with a take-up rate of 97% on launch day. The overall 3,950-unit Lumi Hanoi is now 99% sold.…