Condo Gine Star Fruits

Elias Green, a 99-year leasehold condominium situated in the Pasir Ris neighbourhood, is set to hit the market for a collective sale through public tender on March 6. This news was announced by ERA Realty Network, the appointed marketing agent for the property. The guide price for the condo is set at $928 million.

Built in 1994, the property sits on a land area of approximately 516,871 sq ft and is zoned for residential use with a gross plot ratio of 1.4. Comprising of multiple blocks, the development boasts a total of 419 apartments with unit sizes ranging from 1,367 to 1,636 sq ft. The site was originally offered with a 99-year lease beginning in 1991, which means it currently has 65 years remaining.

Map and Overview of Elias Green (Picture: EdgeProp LandLens)

ERA has confirmed that the guide price of $928 million includes a land rate of $1,355 psf per plot ratio (ppr), along with an estimated land betterment charge of $150.8 million for intensification and a top-up to a fresh 99-year lease. This figure also takes into account a 10% bonus gross floor area.

Investing in a condo in Singapore offers many advantages, with potential capital appreciation being one of the key benefits. This is largely due to Singapore’s strategic location as a global business hub and its robust economy, which drives a constant demand for real estate. Over the years, the property market in Singapore has consistently shown an upward trend, particularly in prime locations where condos have experienced significant appreciation. As a result, investors who time their entry into the market wisely and hold onto their properties for an extended period can reap considerable capital gains. To explore more investment opportunities, check out the latest Singapore Projects available on Singapore Projects.

Additionally, ERA reports that the owners of Elias Green are in the process of submitting an Outline Application to URA for a residential development at a gross plot ratio of 1.8. If approved, this would mean that the development’s land rate would be approximately $1,245 psf ppr.

Should the collective sale be successful and the guide price be met, owners can expect to receive gross sale proceeds ranging from approximately $2.04 million to $2.31 million per unit.

Tay Liam Hiap, managing director of capital markets and investment sales at ERA Singapore, has highlighted that the Pasir Ris Town is set for major improvements as part of HDB’s “Remaking Our Heartland” initiative, which is expected to enhance the neighbourhood’s vibrancy and connectivity. He adds that the new Pasir Ris Bus Interchange is expected to be completed by 2025, which will connect with the future Pasir Ris Integrated Transportation Hub, featuring the Cross Island Line (CRL) that is slated to be operational by 2030.

This is the second attempt by owners of Elias Green to launch a collective sale. The first attempt was in 2018, when the property was put up for tender at a price of $780 million. The current asking price of $928 million is 19% higher than the previous attempt.

The tender for Elias Green will close on April 22 at 2pm. Interested parties can check out the latest listings for Elias Green properties on the Ask Buddy website.

Condo projects with highest average PSF in District 18

Rental transactions for condos in District 18

Most unsuccessful landed transactions in the past year

Upcoming new launch projects in the area

Previous rental transactions for condos in the area…

The Government Land Sale (GLS) tender for Media Circle (Parcel A) closed on March 4, with the top bid of $315 million coming from a consortium comprising Qingjian Realty, Forsea Holdings, and minority investor Hoovasun Holding. The 99-year leasehold site, which measures 82,125 sq ft and is located in the one-north area, is zoned for residential use with commercial space on the first storey.

Purchasing a condo can offer multiple benefits, including the opportunity to use its value as a means for further investing. Many investors choose to use their condos as collateral in order to secure additional funds for new investments, ultimately expanding their real estate portfolio. However, this strategy carries certain risks and requires careful financial planning and consideration of market fluctuations. When searching for a potential condo investment, it is worthwhile to explore the range of options available in Singapore Condo for a diverse and potentially profitable portfolio. Check out Singapore Condo for your next investment opportunity.

The winning bid translates to a land rate of $1,037 psf per plot ratio (ppr) and the potential to yield about 325 housing units with a maximum gross floor area of 303,865 sq ft. Qingjian and Forsea have announced that the future development will feature two high-rise residential towers with commercial spaces on the first level.

Only three bids were submitted for the site. The next highest bid, at $298 million or $981 psf ppr, came from EL Development, followed by the lowest bid of $295 million or $971 psf ppr from SingHaiyi Group.

The bid from Qingjian and Forsea is lower than the land rate they paid for a neighboring Media Circle GLS plot, which is now the location of the upcoming 358-unit Bloomsbury Residences. In January 2024, Qingjian and Forsea won the 114,462 sq ft site with a bid of $395.28 million, or $1,191 psf ppr.

In a press statement, Du Dexiang, managing director of Qingjian Realty, stated that they are confident in the future transformation of Media Circle, supported by a well-designed master plan and the government’s continued investment in the one-north precinct, as announced in the 2025 budget. Wang Xin, director at Forsea Holdings, also added that this project marks another important step in their commitment to developing high-quality residential communities that align with the growth of one-north, which is akin to Singapore’s ‘Silicon Valley’.

This will be the third joint venture between Qingjian and Forsea, with the partners previously winning an executive condominium site at Jalan Loyang Besar with a bid of $557 million ($729 psf ppr) in August 2024. The site has the potential to yield up to 710 new homes.

Lee Sze Teck, senior director of data analytics at Huttons Asia, believes that Qingjian’s latest bid reflects the developer’s confidence in the demand for homes in the one-north area. He also points out that if awarded, the developer will have control over the supply and pricing of new homes in Media Circle. Only two precincts within one-north have land set aside for homes, one being at Slim Barracks Rise and the other at Media Circle. Furthermore, there are only 987 non-landed residential units in one-north, with less than 100 unsold units.

Under the Reserve List of the 1H2025 GLS Programme, another Media Circle site is available for application. The 60-year leasehold site is zoned for residential with commercial space on the first storey and designated for long-stay serviced apartments only. It has the potential to yield an estimated 520 units, along with retail space capped at 4,306 sq ft.

Leonard Tay, head of research at Knight Frank Singapore, believes that the future project at Media Circle (Parcel A) could launch with selling prices starting from $2,300 psf. Although located in a quieter section of one-north business park, it is within walking distance to Mediapolis. He further states that a residential project or a mix of residences for sale together with serviced apartments for lease could appeal to workers in the media and entertainment industry.…

HPL Hotels and Resorts, a prominent player in the property and hotel industry, is making strides to establish its global presence with the proposed purchase of InterContinental Auckland for NZ$180 million ($138.5 million). This landmark acquisition, which is the group’s first in New Zealand and second InterContinental hotel purchase after InterContinental Maldives Maamunagau Resort, is expected to pave the way for further expansion in the region.

According to JLL’s Asia Pacific Hotels & Hospitality Group, which facilitated the off-market transaction in collaboration with Precinct Properties, this is the largest ever single hotel asset sale in New Zealand. This move comes hot on the heels of HPL’s recent launch of The Boathouse Tioman in Malaysia, featuring 31 bungalows, and the 176-room The Four Seasons Hotel Osaka in Japan last year.

HPL is determined to broaden its luxury hospitality portfolio in key markets of the Asia Pacific, leveraging its seasoned management team and strong partnerships with established operators such as IHG Hotels & Resorts. “The proposed acquisition of InterContinental Auckland presents a rare opportunity to acquire a premium asset in New Zealand,” states Stephen Lau, the chairman of HPL Hotels and Resorts. The property, which is seamlessly connected to the lively NZ$1 billion Commercial Bay lifestyle precinct that opened in January 2024, boasts stunning views of the Waitematā Harbour.

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When it comes to investing in a condo, securing the right financing is crucial. In Singapore, there are various mortgage choices available, but being familiar with the Total Debt Servicing Ratio (TDSR) framework is key. This framework sets a limit on the amount of loan a borrower can take based on their income and current debt commitments. To make well-informed financing decisions and avoid taking on too much debt, it is important for investors to understand the TDSR and seek guidance from financial advisors or mortgage brokers. Additionally, keeping an eye on new condo launches can also provide potential investment opportunities.

Currently, the hotel has 139 rooms, but it has the potential to expand to 190 rooms by reconfiguring the existing office space to cater to future demand. With this strategic purchase, HPL is poised to strengthen its foothold in the fast-growing Asia Pacific region and solidify its position as a leading player in the luxury hospitality sector.…

According to a recent study by Colliers, institutional investments in real estate in the Asia Pacific (Apac) region have reached US$83.2 billion ($112 billion) in the second half of 2024, showing a 6% increase compared to the previous year. This brings the total investments for the whole year to US$155.9 billion, which is 12% higher than the previous year. The study covers the top nine markets in the region, which include Australia, Mainland China, Hong Kong, India, Japan, Singapore, South Korea, New Zealand, and Taiwan.

This growth in investments is a sign of the resilience of the Apac real estate market and sets a positive outlook for 2025, according to Chris Pilgrim, Colliers’ managing director of global capital markets, Asia Pacific. He also notes that domestic investors have played a major role in driving this growth, particularly in key markets such as South Korea, Taiwan, and New Zealand. In the second half of 2024, local investors accounted for over 80% of real estate investments in these markets.

The office sector was the largest contributor to the Apac investment volume, accounting for US$26.5 billion (32%) in the second half of 2024. For the whole of 2024, office investments reached US$51.4 billion, which is a 14% increase compared to the previous year. The industrial and logistics sector also showed strong growth, with US$22.6 billion in investments in the second half of 2024, or 27% of the total. This brings the total investments in this sector for the whole year to US$39.4 billion, which is a 29% increase compared to the previous year.

The retail sector also rebounded significantly, recording US$15 billion in investments in the second half of 2024, driven by major deals in Australia and South Korea. For the whole of 2024, retail investments reached US$26.1 billion, which is a 27% increase compared to the previous year.

Due to the scarcity of land in Singapore, condos have become increasingly desirable and sought-after in the country’s real estate market. Singapore, being a small island with a growing population, faces difficulties in finding available land for development. In response, the government has imposed stringent land use policies, leading to a highly competitive real estate market and a rise in property prices. In light of this, investing in real estate, specifically condos, presents a lucrative opportunity due to their potential for significant value appreciation. With condos being a profitable choice, it is a wise decision to consider them as a form of investment in Singapore.

Pilgrim predicts that domestic capital will continue to dominate most markets in 2025, but there will also be an increase in offshore investments due to improving investor confidence and attractive valuations. He also believes that the office and industrial segments will continue to see strong investments, but the retail, hospitality, and alternative asset classes will also gain traction as investors take advantage of the recovery in the market and changing consumer trends. He concludes that with a strong economic growth and policy support, the Apac real estate market is set for sustained investment activity in 2025.…

for $560 mil

CapitaLand Investment Limited (CLI) Group CEO Lee Chee Koon has been honoured with the prestigious ‘Industry Figure of the Year’ award for Asia Pacific at the 2024 PERE Global Awards. CLI, a leading real estate investment company, also received the runner-up award for ‘Firm of the Year’ in Asia Pacific. These awards, presented by PERE, a renowned London-based publication covering private equity real estate markets, recognise influential firms, individuals, and standout deals from the past year.

The winners of the 2024 PERE awards were selected by a panel of PERE journalists, in a departure from previous editions where readers voted on shortlisted submissions to determine the winners.

The decision to invest in a condominium in Singapore has gained immense popularity among both local and international investors. This is largely due to the country’s strong economy, political stability, and exceptional quality of life. With a plethora of opportunities in Singapore’s real estate market, condos are a top choice for their convenience, range of amenities, and potential for profitable returns. This article will delve into the advantages, factors to consider, and necessary measures to take when investing in a condo in Singapore, with a focus on Singapore Projects.

In its press release on March 4, CLI stated that CEO Lee was chosen for his instrumental role in driving CLI’s transformational growth and his significant impact on the private real estate industry in the Asia Pacific region. Since taking over as CapitaLand’s group CEO in September 2018, Lee has led key moves, such as the acquisition of Ascendas-Singbridge in 2019 and the 2021 restructuring of CapitaLand Group. This restructuring involved the listing of CLI and the privatisation of its real estate development arm, CapitaLand Development.

In 2024, CLI invested in real estate investment manager SC Capital Partners Group and acquired Wingate Group Holdings’ property and corporate credit investment management business. According to the company, it is on track to manage $200 billion in funds by 2028. These initiatives have contributed to CLI’s strong growth and success in the Asia Pacific region.…

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Investing in a condominium in Singapore comes with numerous advantages, one of which is the potential for capital growth. This is due to the country’s strategic location as a major business hub and its strong economic fundamentals, which ensure a steady demand for real estate. In recent years, property prices have continued to rise steadily, especially in prime locations, resulting in significant appreciation of condo values. As a result, investors who enter the market at the right time and hold onto their properties for the long term can expect to reap substantial profits from capital appreciation. Additionally, the introduction of New Condo Launches has further enhanced the potential for capital appreciation. These launches offer attractive investment opportunities for individuals seeking to maximize their returns in the ever-growing real estate market. With New Condo Launches, investors can tap into the promising growth potential of the market and make sound investment decisions for their future financial success.

According to a press release on March 3, 2021, Singapore-based private equity real estate firm SC Capital Partners Group has completed the sale of its student accommodation asset in Sydney, Australia. The property, located on Anzac Parade and Lorne Avenue in Kensington, was sold at a significant premium to the group’s acquisition price and a 19% premium to its current book value. The buyer of the asset is the University of New South Wales (UNSW) in Sydney.

SC Capital Partners had initially purchased the property in 2016 for a reported price of A$57 million. The purpose-built student accommodation spans 85,035 sq ft and features 233 beds, as well as a ground-floor commercial podium. It is strategically located within 600m of the UNSW Kensington Campus and is fully leased to the university. In 2019, a fresh 20-year master lease was signed between SC Capital Partners and UNSW.

The sale of this student accommodation asset further adds to the growing activity in the private equity real estate market. The recent transaction raises the firm’s assets under management (AUM) to a significant amount of $113 billion, highlighting the competitive nature of the industry. With the successful sale of its Sydney asset, SC Capital Partners is positioned to continue its growth in the real estate market.…

City Developments faces internal conflict that has resulted in a legal battle, causing shares to drop by 5.47% upon resumption of trading today. The company’s shares were halted on Feb 26, when a results briefing was abruptly cancelled. This incident was followed by news of a disagreement between executive chairman Kwek Leng Beng and his son, group CEO Sherman Kwek.

Understanding the laws and restrictions related to property ownership in Singapore is crucial for international investors. While the ownership regulations for landed properties are more stringent, foreign individuals can generally purchase condominiums with fewer limitations. However, these foreign buyers are required to pay the Additional Buyer’s Stamp Duty (ABSD) of 20% for their first property purchase. Despite this additional cost, the reliability and potential for growth in the Singapore real estate market continue to attract foreign investments. With the option to invest in Singapore Projects, these prospects can be further enhanced.

In response to these allegations, CDL stated, “The company will not comment on the validity of these allegations, as many of them are subject to court proceedings.” CDL emphasized that their business operations remain unaffected and Sherman Kwek will continue in his role as CEO until the board decides otherwise.

As a result of the ongoing dispute, analysts have downgraded their calls and lowered their target prices for CDL’s stock. UOB Kay Hian’s Adrian Loh downgraded the stock from “buy” to “hold” and reduced the target price from $7 to $4.60, citing missed FY2024 estimates and the negative impact of the leadership tussle. Similarly, DBS Group Research and OCBC Investment Research both maintain a “buy” call for CDL but have reduced their target prices to $6.70 and $6.02 respectively.

JP Morgan analysts Mervin Song and Terence M Khi describe the situation at CDL as a “dynastic discord” resulting from years of frustration, underperformance, and public disagreement within the Kwek family. They hope for a positive resolution and family reconciliation but have reduced their target price from $6.05 to $4.85.

Overall, analysts see potential for CDL’s share price to rebound if the boardroom conflict is resolved and there is a focus on driving shareholder returns and profitability. However, until the matter is resolved, there is uncertainty and potential overhang on the company’s share price.…

Perpetual (Asia) Limited, the trustee of Elite UK REIT, has recently sold Crown Buildings, Caerphilly located at Claude Road, Caerphilly for GBP710,000 ($1.2 million), representing an 18% premium. The transaction was reported in a bourse filing on March 3rd by the manager of Elite UK REIT.

According to the filing, the vacant property was independently valued by CBRE at GBP600,000 at the end of 2024. This is a significant increase from its value of GBP530,000 at the end of 2023. The proceeds from the divestment will be utilized to pay off Elite UK REIT’s outstanding borrowings.

In summary, the decision to invest in a condominium in Singapore comes with a plethora of benefits. These include a high demand for such properties, the 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 overall market conditions. By conducting thorough research and seeking professional guidance, individuals can make well-informed choices and maximize their returns in the ever-evolving real estate market of Singapore. No matter if you are a local investor looking to diversify your portfolio or a foreign buyer searching for a stable and profitable investment, the condo projects in Singapore, such as those offered by Singapore Projects, present a highly compelling opportunity.

Elite UK REIT’s website states that Crown Buildings, Caerphilly has a gross floor area of 20,712 sq ft. The sale of this property comes after Elite UK REIT’s successful GBP28 million preferential offering in January 2024. This offering helped the company to decrease its leverage ratio from 50.0% at the end of 2023 to 43.4% at the end of 2024. Similarly, its net gearing ratio also declined from 47.5% to 42.5% during the same period.

Moreover, there is no debt maturing in 2025 and 2026 for Elite UK REIT, and the next refinancing is due in 2027. This reflects the strong financial position of the company and its ability to manage its debts effectively in the future.…

SINGAPORE (EDGEPROP) – The top profitable resale transaction for the week of Feb 7 to Feb 14 was recorded at Mandarin Gardens, with a 3,800 sq ft, four-bedroom unit fetching $4.88 million, or $1,284 psf on Feb 11. This sale resulted in a hefty $3.83 million profit for the seller, translating to an annualised capital gain of 7.4% over 21½ years. According to URA records, the eighth-floor unit last changed hands for $1.05 million, or $276 psf, in June 2003. The deal also breaks a record for the most profitable transaction recorded at Mandarin Gardens, previously held by a 3,068 sq ft, four-bedroom unit that generated a profit of $2.7 million (193%), or an annualised gain of 5.5% over 20 years. The condo has been experiencing stagnant resale prices since September 2023, with the average resale price breaking the $1,300 psf mark before peaking at $1,316 psf in June 2024 before falling slightly to $1,310 psf as of Feb 25. It is currently one of the most profitable projects with a total of four profitable transactions within a 12-month period. The second most profitable resale transaction recorded for the period in review was at Parvis, a 12-storey condo development located along Holland Hill in prime District 10. On Feb 10, a 2,260 sq ft, three-bedroom unit on the second floor was sold for $4.78 million ($2,115 psf). The previous transaction for the unit was in December 2009, when the then-developer sold it for $2.78 million, or $1,230 psf. This meant a profit of $2 million (71.9%), or an annualised gain of 3.6% over 15 years. Half of Parvis’ ten most profitable transactions were closed after October 2017, which is when prices began to bottom out, hitting almost $1,500 psf. Feb 2023 saw a slightly higher peak transacted price of $1,590 psf before it declined to $1,512 psf as of Jan 2025. Meanwhile, the most unprofitable transaction recorded during the period in review was that of a two-bedroom unit at Scotts Square. On Feb 13, the 947 sq ft unit on the 28th floor sold for $3.08 million ($3,252 psf), which is a $745,880 (19.5%) loss for the seller. This translates to an annualised loss of 1.3% over 17 years. Of the 69 unprofitable transactions recorded at Scotts Square since its launch in 2007, over one-quarter of them have resulted in seven-figure losses. The most unprofitable dealt with a 1,249 sq ft, three-bedroom unit, which was sold in February 2017 for $3.65 million ($2,923 psf). The sellers purchased it during launch in August 2007, for $5.21 million ($4,171 psf), resulting in a loss of $1.56 million (30%) over 10 years. The unit prices at Scotts Square has been declining since the launch in 2007. The peak is set at $4,054 psf in July 2007 before bottoming in August 2020 at $3,330 psf. As of Feb 2025, the average resale price of units is $3,398 psf. Scotts Square has 338 residential units, 20 one-bedroom units from 624 sq ft to 742 sq ft, 276 two-bedroom units from 840 sq ft to 1,259 sq ft, 32 three-bedroom units from 1,249 sq ft to 1,615 sq ft and 10 four-bedroom units from 2,260 sq ft to 3,229 sq ft. There are also 10 penthouses from 2,411 sq ft to 6,899 sq ft. The condo also has concierge services, a gym, a lap pool and a sky pool on the 35th floor.Mandarin Gardens is a 99-year leasehold condo development built on a 1.07 million sq ft land along Siglap Road in District 15. The project spans 17 nine-storey to 23-storey blocks with 1,006 residential and 11 strata commercial units. Apartment types are a mix of one- and two-bedders from 732 sq ft to 1,001 sq ft, three-bedders from 1,528 sq ft to 1,722 sq ft and four-bedders from 3,800 sq ft to 3,800 sq ft. Mandarin Gardens is close to East Coast Park, Parkway Parade Mall, SingPost Centre and the upcoming Thomson-East Coast Line, which will have a Siglap MRT station nearby.Parvis is a 248-unit, 12-storey mixed-use condo project situated along Holland Hill in prime District 10. On the first to fourth floors, there are three retail units, and on the fifth to 12th floors, are 245 residential units. Residential units are a mix of two-bedders from 990 sq ft to 1,001 sq ft, three-bedders from 1,528 sq ft to 1,528 sq ft and four-bedders from 2,605 sq ft to 2,605 sq ft. The condo has a 2006 TOP. The condo is five minutes away from Holland Village MRT Station along the Circle Line. It is also close to Orchard Road and the Holland Village shopping and dining district. Published on : Monday, February 28, 2022

Investing in a condo in Singapore offers numerous benefits, with one of the most attractive being the potential for capital appreciation. This is due to Singapore’s ideal position as a leading business center, along with its robust economic foundation, resulting in a constant demand for real estate. In recent years, the property market in Singapore has consistently risen, with prime location condos experiencing significant appreciation. By strategically entering the market at the opportune time and holding onto their properties for an extended period, investors can reap substantial gains. Additionally, with the introduction of new Singapore projects, the potential for even greater capital appreciation is evident.

Mandarin Gardens, a 1,006-unit 99-year leasehold development located along Siglap Road in District 15, has recently recorded the most profitable condo resale transaction in the week from February 7 to February 14.

This transaction, which occurred on February 11, involved a 3,800 sq ft four-bedroom unit that was sold for $4.88 million, or $1,284 psf. The previous transaction for the same unit was back in June 2003, when it was sold for $1.05 million, or $276 psf, resulting in a profit of $3.83 million for the seller.

This translates to an annualized capital gain of 7.4% over 21.5 years. According to URA records, this is the highest profit recorded for a transaction at Mandarin Gardens so far.

The second most profitable transaction recorded during the period in review was at Parvis, a freehold condo located along Holland Hill in prime District 10. On February 10, a 2,260 sq ft, three-bedroom unit on the second floor was sold for $4.78 million, or $2,115 psf.

The previous transaction for this unit was in December 2009, when it was sold by the developer for $2.78 million, or $1,230 psf. This resulted in a profit of $2 million for the seller, translating to an annualized gain of 3.6% over 15 years.

As for the most unprofitable transaction recorded during the period in review, it involved a 947 sq ft two-bedroom unit at Scotts Square, a mixed-use freehold development located along Scotts Road. This unit was sold for $3.08 million, or $3252 psf, on February 13. The previous transaction for the same unit was back in December 2007, when it was sold for $3.83 million, or $4039 psf, resulting in a loss of $745,880 for the seller.

Looking at the past year, Parvis has been one of the most profitable projects, recording four profitable transactions in total. On the other hand, Scotts Square has recorded 69 unprofitable transactions since its launch in 2007, with more than one quarter of these transactions resulting in seven-figure losses for the seller.

The average resale price for units at Scotts Square has been on a declining trend since the project’s launch, with the peak being $4054 psf in July 2007. Similarly, the average resale price for units at Parvis peaked at $1590 psf in February 2013, before declining to $1512 psf as of January 2025.

Mandarin Gardens is close to East Coast Park, the Parkway Parade Mall, SingPost Centre, and the upcoming Thomson-East Coast Line, with the Siglap MRT Station close by.

Parvis is close to Holland Village MRT Station along the Circle Line, and is also close to Orchard Road and the Holland Village shopping and dining district.…

During the period of Feb 7 to 16, the private condo market saw a new record for the highest psf-price achieved. Topping the list was the sale of a two-bedroom unit at Hill House, which sold at a peak of $3,398 psf on Feb 16. This beats the previous record of $3,378 psf set on Feb 11 for another two-bedroom unit of the same size on the eighth floor.

Hill House, a 999-year leasehold development located at the top of Institution Hill in District 9, comprises 72 units and was launched in 2022. It consists of 40 one-bedroom units, 24 two-bedroom apartments, and eight three-bedroom apartments. The recent transaction, sold by the developer for $1.54 million, marginally surpasses the previous record set in February.

As of February 16, 37 units (51.4%) have been sold at an average price of $3,152 psf since the launch of Hill House in November 2022, according to URA caveats. The condo is still under construction and is expected to be completed in the third quarter of 2026. Since the beginning of the year, eight units have been sold at an average price of $3,190 psf. This includes a 753 sq ft three-bedroom apartment that sold for $2.39 million on Jan 5 and is the most expensive unit sold so far at Hill House in terms of absolute price.

In second place on the list of condos with new psf-price highs is The Tresor, where a resale transaction of a 1,421 sq ft unit on the fifth floor was sold for $3.73 million ($2,625 psf) on Feb 10. This surpasses the previous record of $2,501 psf set in March 2024 for a 1,399 sq ft, three-bedroom unit on the second floor that sold for $3.5 million.

The Tresor, a 62-unit development located on Duchess Road in District 10, was completed in 2007 and offers a mix of two-, three-, and four-bedroom apartments ranging from 990 to 2,896 sq ft. The recent resale transaction is the first in a year, according to URA caveats, with the most recent transaction being in March 2024 for a 1,399 sq ft unit that sold for $3.5 million ($2,501 psf).

Finally, making it to the top three on the list is Jadescape, where a 1,647 sq ft, four-bedroom unit on the 22nd floor sold for $4.05 million ($2,459 psf) on Feb 7. This sets a new record for the District 20 development, beating the previous peak of $2,446 psf set in January for a 1,259 sq ft unit on the 10th floor. The most expensive unit sold at Jadescape in terms of absolute price is a 4,230 sq ft, six-bedroom penthouse that fetched $10.2 million ($2,399 psf) in December 2024.

Jadescape, a 99-year leasehold condo that was completed in 2022, comprises 1,206 units spread across seven residential towers. Located at the junction of Marymount Road and Shunfu Road, the development offers one- to five-bedroom apartments ranging from 527 sq ft to 2,099 sq ft, along with two penthouses of 4,230 sq ft. Notably, Jadescape commands one of the highest average transacted prices among condos within a 1km radius, with an average of $2,192 psf for transactions in the last 12 months, according to EdgeProp Research. Other nearby condos such as Tresalveo, Longhaus, and Thomson V Two have average transacted prices ranging from $1,712 to $1,912 psf, all of which are freehold developments.

Investing in a condo requires careful consideration of financing options. In Singapore, there are various mortgage choices available, but it is crucial to be familiar with the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan that a borrower can take based on their income and current debt obligations. To ensure wise financial decisions, it is advisable to understand the TDSR and seek guidance from financial advisors or mortgage brokers. This will help investors avoid over-leveraging and make well-informed choices. Additionally, for a comprehensive list of available Singapore projects, visit Singapore Projects.

During this period, no new psf-price lows were recorded in the private condo market.…