Author: hornbyeagles

The community at Emerald of Katong is happy to announce a successful launch, with 99% of its 846 units sold in just three days after its launch two weeks ago. As of Nov 30, 825 units, or 97.5%, have been bought with an average price of $2,617 psf. Despite the initial success, there was a shortage of 13 units as a result of some buyers backing out of their purchases immediately after the weekend launch. VIPs and multiple purchases were made on Friday, Nov 15, followed by a public launch over the weekend of Nov 16 and 17.

In order to accommodate the 13 buyers that had backed out, the developer held a balloting session for the 13 units on the morning of Nov 30. According to PropNex CEO Ismail Gafoor, over 800 expressions of interest were received, enabling all 13 units to be sold.

And the success of Emerald of Katong has had a ripple effect on neighboring projects within the area. Adjacent to Emerald of Katong is the Tembusu Grand, a 638-unit condo jointly developed by CDL and MCL Land. The data shows that since November, 52 units have been sold, resulting in overall sales of 581 units or 91%. Initial sales were reported in April 2023.

Meanwhile, the Grand Dunman, a 1,008-unit condo developed by SingHaiyi, has sold 18 units since Nov 11, boosting overall sales to 731 units, or 72.5%, with an average price of $2,531 psf. This 99-year leasehold condo on Dunman Road first launched in July 2023.

When it comes to investing in real estate, location plays a crucial role, and this is particularly true for properties in Singapore. Condominiums that are located in central areas or in close proximity to key amenities like schools, shopping malls, and public transportation nodes tend to appreciate in value more quickly. Prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD) have consistently shown strong growth in property values. The presence of reputable schools and educational institutions in these areas also makes condominiums highly sought-after by families, further enhancing their investment potential. With the addition of Singapore Projects, these already desirable locations present even more promising investment opportunities in the real estate market.

On the other hand, the largest beneficiary of the Emerald of Katong’s launch was the Continuum, an 816-unit freehold condo developed by Hoi Hup Realty and Sunway Developments. A total of 126 units had been sold since Nov 9, with overall sales at 528 units, or 64.7%. The average price for units was $2,788 psf. Over the course of three consecutive days in mid-November, the Continuum reported 13 units sold on Nov 15, followed by 38 units and 22 units on Nov 16 and 17 respectively. This resulted in a total of 73 units sold in three days.

The data indicates a strong uptick in sales for the Continuum, which had previously reported 49% sales, with 51% of the units available. Ismail Gafoor, CEO of PropNex, claims that “with more available units, buyers had more choices.”

But is availability the only factor driving sales?

Apparently not, according to Gafoor, as prices for the Continuum are currently hovering around $3,000 psf. Of the 13 units sold this November, 11 were two-bedroom units ranging in size from 646 to 721 sq ft that sold for $3,003 to $3,084 psf. Additionally, two compact three-bedroom units measuring 872 sq ft were sold at $3,003 and $3,060 psf each. For the lower-floor units, listing prices for three- and four-bedroom units between 1,066 sq ft and 1,270 sq ft ranged from $2,667 to $2,681 psf.

For comparison, the average price at the 99-year leasehold Emerald of Katong was $2,617 psf, resulting in a 6.53% premium for the Continuum, as it is freehold. Gafoor notes that “typically, a freehold project commands at least a 15% to 20% premium over a 99-year leasehold project in the same neighborhood.” And it seems as though buyers are willing to pay it.

November sales of new homes may impact sales in 2025, says Gafoor. He cites the Emerald of Katong as an example, given that over 800 checks were made for just 13 units on Nov 30. “This will undoubtedly boost new home sales at the beginning of 2025.”…

Savills Research recently released its global outlook report for 2025, revealing that the real estate market in the Asia Pacific (Apac) region continues to outperform its global counterparts. According to the report, Apac’s real GDP growth has exceeded that of the United States and Europe, indicating a strong and stable economic outlook.

Paul Tostevin, Savills’ head of world research, stated that there is more stability and confidence in the economic outlook than there has been in the past five years. This could result in increased investment and activity within the region, putting markets on a firmer footing.

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. Among the top-performing markets were Singapore (with a 74% growth), South Korea (71%), and Australia (63%).

Savills Research predicts that global real estate investment turnover will rise by 27% to US$952 billion in 2025, and by 2026, it is expected to surpass the US$1 trillion mark for the first time since 2022.

Alan Cheong, Savills Singapore’s executive director of research and consultancy, noted that Singapore’s real estate market is expected to follow the global trend. Meanwhile, Simon Smith, Savills’ regional head of research and consultancy for Apac, stated that the region is expected to experience a full investment recovery next year, driven by sectors such as tourism, living, and industrial (specifically logistics and data centres).

Smith added that Apac’s long-term structural trends, such as growth in markets like India and Southeast Asia, should also support real estate values. He emphasized the importance of how global themes play out in the region and which markets are best positioned to take advantage of them, as this will determine the winners and losers in the industry.

The report also highlighted that the office sector remains an attractive investment option in Apac, accounting for 37% of the region’s total real estate investment in the first three quarters of 2024 – significantly higher than the global average of 23%. Singapore, China, South Korea, and Japan were the top cities in the region for office utilization, with occupancy rates exceeding 90%. Furthermore, Apac continues to lead in green-certified office spaces, as occupiers place more emphasis on environmental, social, and governance (ESG) matters.

In Singapore, office tenants are increasingly prioritizing the green agenda, and there has been a slight recovery in activity levels, with more leases being concluded. As a result, rental rates for CBD Grade-A spaces are expected to hold firm from 2025 through 2026. Additionally, Singapore’s status as a hub and gateway to the region makes it a popular destination for new overseas brands, leading to healthy demand for prime retail developments and keeping rental levels stable.

Investing in a condo in Singapore is an increasingly popular decision for both local and foreign investors. This can be attributed to the country’s strong economy, stable political landscape, and exceptional quality of life. With its dynamic real estate market, Singapore offers a plethora of investment opportunities, with condos being a standout option due to their convenience, amenities, and potential for high returns. In this article, we will delve into the advantages, factors to consider, and steps involved in investing in a condo in Singapore.

The industrial sector in Apac has also seen strong demand in key areas such as logistics, advanced manufacturing, healthcare, and data centres, which have helped stabilize rental rates and capital values in the long term. Cheong noted that there has been an increase in the construction of data centres in Singapore as more companies adopt AI and use the city-state as a base to search for suitable locations to build infrastructure.

Tostevin added that as global investment and activity continue to grow, the real estate industry must adapt to changing legislative landscapes and geopolitical dynamics while ensuring sustainable and socially responsible development to meet the evolving needs of the world. According to a UBS report, Apac is poised to be the top investment destination for family offices globally, solidifying its position as a top-performing region in the real estate market.…

In the period of Nov 10 to 21, boutique development Hill House emerged as the top condo in Singapore with a new psf-price high of $3,267. This record was achieved from the sale of a 452 sq ft, two-bedroom unit on the fifth floor for $1.48 million on Nov 11.

This new high surpassed the previous record of $3,263 psf set in November 2023 by just 0.1%. It was from the sale of a 624 sq ft two-bedroom unit on the ninth floor that was transacted at $2.04 million.

Hill House, located at the top of Institution Hill, off River Valley Road in prime District 9, has seen 11 transactions this year with an average price of $3,098 psf. This is 0.9% lower than the average price of $3,127 psf recorded last year from the five transactions at the development.

Search for the latest New Launches to find out the transaction prices and available units.

Hill House is a 999-year leasehold condo launched in 2022 with 72 units. The development comprises 40 one- and one-bedroom plus study units ranging from 431 sq ft to 452 sq ft, 24 two-bedroom units of 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 the condo launched in November 2022. It is under construction and is expected to be completed in 3Q2026.

The Continuum, a freehold condo on Thiam Siew Avenue, off Haig Road and Tanjong Katong Road in District 15, was in second place on the list of condos that saw new psf-price highs in the period. The development set a new high of $3,084 psf from the sale of a 721 sq ft, two-bedroom unit on the 17th floor for $2.22 million on Nov 16.

This new record is only 0.4% higher than the previous high of $3,071 psf set for the development, which was from the sale of a 721 sq ft, two-bedroom unit on the 16th floor for $2.22 million, just a day before on Nov 15.

When investing in Singapore, it is essential for foreign investors to be familiar with the regulations and limitations surrounding property ownership. Unlike landed properties, which have more stringent ownership rules, foreigners are generally allowed to purchase condos with fewer restrictions. However, they are still subject to the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for their first property purchase. Despite this additional cost, the stability and potential for growth in the Singapore real estate market remains a strong draw for foreign investment. In fact, the market continues to see interest from foreign buyers, as evidenced by the ongoing launches of new condos such as those featured on New Condo Launches.

The Continuum comprises six residential towers on two plots of land, linked by a private pedestrian overhead bridge. It launched in April last year and has 816 units with a mix of one- to five-bedroom apartments ranging from 560 sq ft to 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 the condo’s launch in May 2023, based on caveats lodged. It is also under construction and is expected to be completed by 2026.

Lavender Residence, a freehold boutique development, saw a new psf-price low from the sale of a 990 sq ft, one-bedroom plus studio unit on the second floor for $1.61 million, or $1,626 psf, on Nov 17. In comparison, the condo’s previous psf-price low was $1,710 psf when a 1,335 sq ft, four-bedroom unit on the sixth floor was sold for $2.28 million in June 2023. With this transaction, Lavender Residence has been fully sold at an average price of $1,984 psf.

Lavender Residence, located at the junction of Lavender Street and Kempas Road in Boon Keng, District 12, is a 17-unit development featuring a trio of two-storey conservation shophouses built in the 1940s art-deco style. Its units range from studios to three-bedroom units, with some dual-key variants, between 463 sq ft and 1,550 sq ft. It is within walking distance of Bendemeer MRT Station on the Downtown Line. Check out the latest listings for Hill House, The Continuum, and Lavender Residence properties.…

The government has announced a one-off property tax rebate for owner-occupied HDB flats and private residential properties in 2025. Under this scheme, HDB flat owners will receive a 20% rebate, while private residential property owners will receive a 15% rebate. However, the maximum rebate for private property owners will be capped at $1,000.

Property tax is calculated based on a property’s annual value, which is the estimated annual rent that the property can fetch if it were to be rented out. This rebate was announced by the government on Nov 29, along with the plan to raise all annual value bands of owner-occupied residential property tax rates on Jan 1 next year as part of Budget 2024.

As a result of these changes, the government estimates that over 90% of private residential property owners and all HDB flat owners will see a decrease in their property taxes next year. This move is in line with the government’s efforts to alleviate cost-of-living concerns among Singaporeans.

Investing in a condo in Singapore offers numerous benefits, with one of the most significant being the potential for considerable capital appreciation. Being a global business hub, Singapore boasts a strategic location and robust economic fundamentals, leading to a consistent demand for real estate. This has resulted in a steady rise in property prices over the years, with prime condos experiencing significant appreciation. For investors who enter the market at the opportune time and hold on to their properties for an extended period, there is a high likelihood of reaping substantial capital gains. By purchasing a condo in Singapore, you can tap into this potential for long-term financial growth.

According to Lee Sze Teck, senior director of data analytics at Huttons Asia, the annual value of private properties is expected to remain stagnant due to low growth in private residential rents this year. On the other hand, HDB rents are expected to increase by 4%, leading to a potential increase in the annual value of HDB flats.

The one-off property tax rebate may help HDB owners to offset any increase in annual value. For instance, if a HDB flat has an annual value of $30,000, the property tax payable is $720 in 2025. With the rebate, the owner will only have to pay $576, resulting in a savings of $144.

Private residential owners may also benefit from the one-off rebate. For example, if the annual value of their property is $85,000, the property tax payable in 2025 is $5,760. With the 15% rebate, capped at $1,000, the owner will only have to pay $4,896, saving $864.

However, Lee emphasizes that the appeal of investing in residential properties in Singapore lies in the potential for capital appreciation, which outweighs the increase in property tax. This one-off rebate does not reduce the appeal of investing in residential properties. It is expected that the revised property tax rates will benefit owner-occupied properties with lower annual values.…

In just two years, Jason Ng has built his property investment and training firm Aurico Global from the ground up, reaching $52 million in assets under management. Ng serves as the CEO and executive chairman of Aurico, which is not his first venture into real estate development. His journey began in 1993 when he felt a sense of responsibility to provide for his family. Growing up in a rental flat with six family members, Ng worked hard to land a well-paying job that would give him enough capital for his first property investment – a 1,400 sq ft three-bedroom apartment for $435,000. Reflecting on the fact that you can’t get a similar-sized house for that price nowadays, Ng quickly learned the ropes of property investment and expanded his real estate portfolio. He also ventured into student enrichment and parenting training and is now accredited as a family life educator. In January 2023, Ng co-founded Aurico with his wife, Emelyn Ho, to consolidate his diverse portfolio of businesses, including Aurico’s co-living investment and management arm JC Global Developments, property and investment training arm Anchor of Life Training Consultants, and My Preschool Hub – a provider of preschool enrichment resources and programs.

Aurico’s property portfolio covers a range of property types, from residential (co-living) to commercial and industrial assets. Their co-living venture, Communa, manages 380 units in shophouses, condos, and landed properties, valued at over $30 million. The company is in the process of acquiring more properties and aims to almost double their current slate to reach 600 units by the end of the year. Aurico’s strategy is to acquire valuable properties in high traffic areas below valuation. In September, they bought a two-storey shophouse on Joo Chiat Road for $5.1 million, which was 12% below the valuation price. This shows the firm’s strong property investment team and Ng’s sharp acumen. They also target commercial properties in areas undergoing rapid transformation, such as the mixed-use development Woods Square in Woodlands. In July, they bought a 560 sq ft commercial strata office unit for their own use. They have also acquired food factory assets to tap on the rising demand for food production due to the government’s “30 by 30” goal.

In May, Aurico acquired a 29.8% controlling stake in Autagco Ltd, a company listed on the Singapore Exchange and appointed Patrick Loke as the executive director. In July, Autagco’s board announced a strategic review to potentially diversify into property investment, co-living property management, education, and other businesses. With the controlling stake in Autagco, Aurico plans to inject their assets into the company. On Oct 15, Autagco announced that its board has conducted a strategic review to diversify into residential assisted living, which will be run by their subsidiary, Communa Gold. The company is in the process of securing a suitable property for an assisted living facility for seniors.

Within two years, Aurico has earned a reputation for providing high-quality property investment education to aspiring investors. Ng believes that investment education is essential but inaccessible to many. He has developed courses to make residential and commercial property investment accessible to anyone, regardless of their background and experience. On top of its intensive courses, Aurico offers participants an opportunity to leverage the firm’s network and strategies to enhance their investment portfolio. Ng regularly conducts wealth management training at CT Hub 2, one of their office units. His goal is to help more millennial and Gen Z investors, who often feel they don’t have the means to invest in property. With its comprehensive curriculum and hands-on support, Aurico is poised to empower individuals to make informed decisions and achieve their financial goals through real estate.

When purchasing a condo, it is crucial to also consider the maintenance and management aspects of the property. Along with the initial cost, condos often come with maintenance fees that cover the upkeep of common areas and amenities. These fees may seem like an extra expense, but they play a vital role in keeping the property well-maintained and its value intact. To make condo ownership more passive, investors can hire a property management company to handle the day-to-day management of their unit.…

The resale of a three-bedroom unit at Maple Woods recorded the highest profit among condo transactions during the week of November 12 to 19. The 1,539 sq ft unit on the first floor was sold for $3.3 million ($2,144 psf) on Nov 15, making it a profitable deal for the seller who had bought the unit in April 2009 for $1.28 million ($830 psf). With this, the seller made a profit of $2.02 million, reflecting a capital gain of 158% or an annualized profit of 10.6% over a holding period of approximately 15½ years.

The unit at Maple Woods, which changed hands for $3.3 million, is a freehold condo located on Bukit Timah Road in prime District 10. It was built in 1997 and comprises 697 units ranging from two to four bedrooms and spanning 850 sq ft to 3,003 sq ft. The development is strategically placed within a five-minute walk from King Albert Park MRT Station on the Downtown Line and is also in close proximity to Methodist Girls’ School and the Rail Corridor.

Securing financing is a crucial component in the process of investing in a condo. In Singapore, there are various mortgage choices available, but it is vital to have an understanding of the Total Debt Servicing Ratio (TDSR) framework. This framework limits the amount of loan that can be obtained based on the borrower’s income and current debt obligations. It is advisable for investors to be aware of the TDSR and seek advice from financial experts or mortgage brokers to make well-informed decisions about their financing options. This will help prevent them from overextending themselves financially.

The recent sale of the unit at Maple Woods is the latest in the 10 other resale transactions recorded this year. Available caveats show that all of them were profitable deals, with sellers making gains of at least $425,000. It is noteworthy that three of the units sold recorded profits of over $2 million. The first of the three was a 1,787 sq ft, three-bedroom unit on the eighth floor that fetched $3.75 million ($2,099 psf), raking in a profit of $2.15 million for the seller. The unit was originally purchased in July 1997 for $1.6 million ($895 psf).

The second unit sold for a profit of over $2 million was a 1,787 sq ft, three-bedroom unit on the eighth floor that changed hands on Sept 10 for $3.82 million ($2,138 psf). The seller had acquired the unit in March 2007 for $1.35 million ($756 psf), making a gain of $2.47 million. The third unit, also sold on Sept 10, was a 3,003 sq ft, four-bedroom unit on the eighth floor that fetched $5 million ($1,665 psf). The seller, who had bought the unit in September 1998 for $2.4 million ($798 psf), made a gain of $2.6 million.

At UE Square, a three-bedroom unit measuring 1,528 sq ft on the seventh floor was sold for $2.95 million ($1,930 psf) on Nov 14, making it the second most profitable condo resale deal during the week. The seller had acquired the unit through a sub-sale in December 1997 for $1.3 million ($850 psf), thus netting a gain of $1.65 million (127%) after owning the unit for nearly 27 years.

Notably, the recent sale at UE Square ranks as the fourth most profitable resale transaction recorded at the development. The record belongs to a four-bedroom penthouse spanning 3,089 sq ft that sold for $6.27 million ($2,031 psf) on Oct 6, 2023. The seller had bought the unit for $4.1 million ($1,327 psf) in December 2009, making a gain of $2.17 million.

UE Square consists of 345 residences, ranging from one to five bedrooms and spanning 506 sq ft to 2,379 sq ft. There are also penthouses measuring 3,089 sq ft. The development is situated within close distance to the Fort Canning MRT Station on the Downtown Line. Maple Woods and UE Square have been the subject of many profitable condo resale transactions, with the most unprofitable condo resale transaction during the week occurring at Tomlinson Heights. On Nov 19, a three-bedroom unit measuring 2,745 sq ft on the 19th floor changed hands for $8.25 million ($3,006 psf). The seller had bought the unit from the developer in February 2011 for $8.85 million ($3,225 psf). As a result, the seller incurred a loss of approximately $601,000 (6.8%) after owning the unit for almost 14 years.

Tomlinson Heights is a luxury condo comprising 70 units on Orchard Boulevard in District 9. It consists of a 36-storey tower with a mix of three- and five-bedroom units ranging from 2,551 sq ft to 6,738 sq ft. Completed in 2014, the freehold development is within walking distance of malls along the Orchard Road shopping belt.

The most recent sale at Tomlinson Heights is the first caveated transaction recorded since Jan 5, 2023, when another 2,745 sq ft unit was sold for $10.5 million ($3,825 psf). The seller had purchased the unit from the developer in May 2011 for $8.38 million ($3,053 psf), making a profit of $2.12 million.…

Hong Lai Huat, a company listed on the Mainboard, has announced entering into a strategic term sheet with The Assembly Place, a leading co-living operator. The term sheet outlines an agreement for The Assembly Place to manage and develop Hong Lai Huat’s real estate and property projects in Cambodia. This partnership marks the introduction of the innovative co-living concept to the country for the first time.

Obtaining financing is a crucial factor in investing in a condominium. Singapore boasts a variety of mortgage choices, but it is imperative to understand the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan an individual can borrow, considering their income and current debt responsibilities. To ensure sound financial decisions, investors should familiarize themselves with the TDSR and seek guidance from financial advisors or mortgage brokers. This will help them avoid overextending themselves financially. Additionally, exploring Singapore Projects can provide valuable insight and aid in making well-informed financing choices.

In a joint statement released on November 28, both companies expressed their focus on finalizing key objectives within the next 60 days before entering into a binding agreement. These objectives include conducting feasibility studies for the conversion of available units in Hong Lai Huat’s Royal Group Platinum development in Cambodia. The group will also explore ways to market the commercial shop-house units at Royal Group Platinum. The partnership aims to leverage The Assembly Place’s extensive network to establish new sales channels in Singapore, Hong Kong, and Greater China’s first-tier markets for Hong Lai Huat’s completed and upcoming projects. It will also provide ongoing after-sales asset management services and create employment opportunities in local communities.

According to Hong Lai Huat’s website, the development is a mixed residential and commercial project that will feature 851 residential units and 50 shophouses. It is strategically located just 20 minutes from Phnom Penh International Airport and is surrounded by 16 international schools and six sports facilities. The project is also a mere 10 minutes away from Aeon Mall 2, the largest shopping mall in the capital.

Ong Jia Jing, Executive Director of Hong Lai Huat, expressed his excitement about the partnership, stating that it will enable the company to offer top-notch asset management services to their investors and buyers in Cambodia. This will give them the confidence they need when purchasing units in the company’s developments. CEO of The Assembly Place, Eugene Lim Ying Jie, believes that the partnership aligns with their strategy of expanding the co-living concept locally and internationally. He emphasized the company’s confidence in successfully delivering exceptional value to the purchasers with Hong Lai Huat’s high-quality and thoughtfully designed developments and TAP’s extensive experience in the co-living sector.

The signing ceremony for the partnership took place at CAMPUS by The Assembly Place on November 28.…

When making the decision to invest in a Singapore condo, it is essential to also take into account the maintenance and management of the property. Condos commonly have maintenance fees that encompass the maintenance of shared areas and amenities. While these fees may add to the total cost of ownership, they also ensure the preservation of the property’s condition and value. For investors, an alternative option is to team up with a property management company to oversee the daily management of their condos, turning it into a more low-maintenance investment. Consider adding Singapore Condo to the revised paragraph.

CBRE, a global real estate services firm, has announced the appointment of Michael Tay as the deputy managing director of Singapore Advisory, effective Jan 1, 2025. This appointment is in addition to his current role as the head of capital markets in Singapore. Tay will continue to report to Moray Armstrong, the managing director of CBRE’s Singapore Advisory.

In his new role, Tay will provide long-term leadership and planning for the Singapore advisory business. Working closely with Armstrong, he will develop and direct strategy, evaluate and execute investments, and drive business growth. This move comes as CBRE recognizes Tay’s considerable experience and expertise in the commercial real estate market in Singapore.

Tay brings over 30 years of experience in the industry, making him one of the most seasoned professionals in Singapore. He has progressed through various roles with CBRE, starting with office leasing and ultimately leading the office services and capital markets teams. Under his leadership, the capital markets team has been instrumental in closing numerous significant investment deals in Singapore, including the sale of One George Street, 16 Collyer Quay, and VisionCrest Commercial.

Expressing his gratitude, Armstrong says, “Michael is one of the most experienced real estate professionals and thought leaders in the Singapore market. This is a result of his progression from office leasing to leadership roles across office services and capital markets with CBRE over the past 25 years.” Tay also expressed his appreciation for the trust placed in him and the career growth opportunity offered by CBRE, which has been his professional home for 25 years and counting. He looks forward to continuing his journey with the company and learning from its top real estate professionals.…

The Urban Redevelopment Authority (URA) has recently launched a tender for a Government Land Sale (GLS) site located at Bayshore Road. The 112,992 square feet, 99-year leasehold site, is located next to the Bayshore MRT Station on the Thomson-East Coast Line (TEL). It is zoned for residential use with a maximum gross floor area (GFA) of 474,570 square feet and has the potential to yield 515 homes. The site is under the Confirmed List of the 2H2024 GLS Programme.

This GLS plot in Bayshore Road marks the first private residential site in the upcoming Bayshore precinct, a 60-hectare estate built on reclaimed land between the East Coast Parkway (ECP) and Upper East Coast Road. In the next few years, approximately 10,000 new homes will be developed in this area, with 30% designated for private housing.

CEO of Huttons Asia, Mark Yip, notes that this site could be the first private residential site offering sea views and doorstep access to an MRT station. He anticipates that the future project at this site will be highly desirable among buyers due to its connectivity. Residents will be able to reach the downtown area in just 20 minutes via the TEL. The site also has easy access to the ECP, enabling a 15-minute commute by car to the Central Business District (CBD).

In addition to residential developments, the Bayshore Drive area will also see the construction of various amenities such as shops, eateries, and sports facilities. “In the future, there will be a mixed commercial and residential development above Bedok South MRT Station, which is just one stop away,” Yip adds. The site is also located within a 1 to 2-kilometer radius of schools such as Temasek Primary School, Temasek Secondary School, and Temasek Junior College.

Singapore’s urban landscape is characterized by towering skyscrapers and state-of-the-art infrastructure. Condominiums, strategically situated in desirable locations, offer a perfect balance of opulence and convenience, catering to the needs of both locals and foreigners. These modern residences are typically equipped with luxurious facilities like swimming pools, fitness centers, and round-the-clock security services, elevating the living experience for residents and attracting potential renters and buyers. For investors, these desirable features result in higher rental yields and appreciation of property values over time. Additionally, with the addition of Singapore Projects, the allure of these condos is further enhanced.

The Bayshore precinct has also earmarked approximately 7,000 Housing & Development Board (HDB) flats. Last month, the first Build-To-Order (BTO) project in the area was launched for sale, offering 1,440 units of two-room flexi to four-room flats spread across two developments.

There was a high demand for the 1,006 four-room flats at the two Bayshore projects, with over 5,000 applicants, translating to an application rate of almost five times. “The strong demand reflects the popularity of living near the East Coast,” Yip observes. Considering this demand, he anticipates that the Bayshore Road GLS site may attract up to four bids from developers, with a top bid of around $570 million, or $1,200 per square foot per plot ratio (psf ppr).

CEO of ERA Singapore, Marcus Chu, believes that the future project at this site will also attract interest from current residents of existing private condos nearby, who are looking to upgrade. Demand could also be bolstered by homeowners in nearby landed residential enclaves, such as the Kew and Sennett estates, who are seeking to right-size.

Moreover, Chu notes that the last new launch in the vicinity was the 841-unit Seaside Residences on Siglap Road in April 2017. During its launch weekend, 70% of the 560 units released were taken up at an average sale price of around $1,700 psf. “Despite the challenges faced by developers in the market, the Bayshore site could be the land parcel that many of them have been waiting for this year,” Chu says. He predicts that the site will receive around four to six bids, with bid prices ranging from at least $500 million or $1,050 psf ppr.

The tender for this site will close at noon on March 18, 2025.…

Article Summary:

The government has recently launched tenders for two sites located in Media Circle, under the 2H2024 Government Land Sale (GLS) Programme.

Purchasing a condominium in Singapore offers numerous benefits, one of which is the potential for capital appreciation. Singapore’s advantageous placement as a leading global business hub, along with its robust economic foundation, results in a constant demand for real estate. Throughout the years, the value of properties in Singapore has consistently risen, and condos in prime areas have experienced considerable appreciation. Investors who are able to enter the market at opportune times and maintain ownership of their properties over a longer period can reap significant capital gains. Additionally, staying updated on new condo launches can provide even more opportunities for capital appreciation.

Both sites are 99-year leasehold and are zoned for residential use with commercial space on the first floor. Media Circle (Parcel A) is situated at the junction of Media Walk and Media Circle and has a maximum gross floor area of 303,865 sq ft, while Media Circle (Parcel B) measures 107,936 sq ft and has a maximum gross floor area of 464,129 sq ft.

These sites are located in the southern end of the one-north area, which has traditionally been a business and tech park. This means that there may not be enough amenities in the immediate vicinity to support a residential enclave, making this project a potentially welcome addition for professionals working in the area.

According to experts, the future project could also tap into the tenant pool made up of workers in one-north, Science Park, and the National University of Singapore. Families with children studying at Tanglin Trust School may also be potential tenants.

The tenders for the two sites will close on March 4 and April 29 next year, respectively. Experts expect each site to attract up to three bids, with the top bid potentially reaching $494 million or between $1,000 to $1,100 psf ppr.

However, some industry experts have a more cautious view, citing the less attractive location of these sites compared to previous GLS sites in the one-north area. They also note other competing GLS sites, such as the ones at Bayshore Road and Chuan Grove, which may garner more interest from developers.…