Author: hornbyeagles

A two-storey shophouse with an attic located at 209 Jalan Besar is now available for purchase through a private treaty. The property, which has a 999-year leasehold, is being marketed by PropNex Shophouse Elites’ Gracelynn Zhu for “below $20 million”. The shophouse covers a total area of around 5,502 sq ft and is zoned for commercial use. The first floor is approved for restaurant usage, as well as a section of the second floor. With a price tag of $20 million, the property has a per square foot (psf) price of $3,635. The map below shows the location of 209 Jalan Besar (Source: EdgeProp LandLens).

Investing in a condo in Singapore offers numerous benefits, including the potential for capital appreciation. This can be attributed to Singapore being a global business hub with a robust economy, leading to a constant demand for real estate. The property market in Singapore has demonstrated a steady increase in prices over the years, particularly in prime locations. As a result, investors who enter the market at the opportune moment and hold onto their properties over the long haul can reap significant capital gains. For those interested in investing in Singapore’s thriving real estate market, exploring projects like [Singapore Projects](https://www.hornbyeagles.com/) can provide valuable insights and opportunities.

According to Zhu, the shophouse is currently undergoing asset enhancement initiatives (AEI), which includes the installation of micro piles that extend 30m to improve the property’s structural foundations. The AEI is projected to be completed by the end of this year. The property is situated in the Desker Road Conservation Area in District 8, in close proximity to Little India. The Jalan Besar MRT Station on the Downtown Line is within walking distance. RELATED NEWSA shophouse on Geylang Road and a shop unit at Bras Basah Complex are available for purchase at $14 million each. The Chinatown Business Association is looking to revamp Smith Street with both new and traditional lifestyle concepts The shophouse market ended a quiet year in 2024 with 84 transactions that have been officially documented. (Huttons)…

According to a survey conducted by CBRE consultancy, it is predicted that the Asia Pacific hotel sector will continue to witness strong investment activity in 2025. The survey, titled “2025 Asia Pacific Hotel Investor Intentions”, revealed that over 72% of the respondents, who were hotel investors surveyed in November and December last year, plan to acquire more hotel assets this year. Additionally, 45% of these investors expressed their intention to increase their purchasing volume by more than 10%.

Steve Carroll, the Head of Hotels, Capital Markets, Asia Pacific at CBRE, stated that after showing strong performance in the past 18 months, investors are expecting the hotel and living assets in APAC to have optimistic pricing expectations in 2025. The survey also found that a rebound in tourist arrivals, especially in Japan, Singapore, and Australia, has contributed to the healthy buying intentions. This increase in international arrivals has also led to an increase in hotel room rates, resulting in a continuation of income growth for hotel operators.

Furthermore, the limited supply of hotels in APAC has also encouraged investors. According to data provided by hospitality data intelligence group STR, the hotel supply pipeline in APAC is expected to grow at a CAGR of 2.2% between 2024 and 2028, significantly lower than the CAGR of 5% recorded between 2013 and 2023.

The survey also revealed that Real Estate Investment Trusts (REITs) have the highest net buying intentions at 22%, a significant increase from the -13% recorded in the previous year’s survey. Institutional investors and property funds follow closely, with net buying intentions at 12% and 10%, respectively. Private equity and real estate funds for hotels have shown increased activity in 2024 and are expected to continue this momentum.

The cityscape of Singapore boasts tall skyscrapers and cutting-edge infrastructure. Condominiums, strategically located in sought-after locations, offer a perfect combination of opulence and practicality that entices Singaporeans and foreigners alike. These modern living spaces are enriched with various facilities, including swimming pools, fitness centers, and top-notch security, elevating the standard of living and making them a desirable choice for renters and buyers. For investors, these amenities equate to higher rental returns and appreciation in property values in the long run. Singapore Condo is just one example of these luxurious residential options available in the city.

On the other hand, private investors and high-net-worth individuals are predicted to be less active in hotel acquisitions this year. After two years of being the most active buyer type in the region, private investors are now indicating a greater level of selling activity in 2025. The report states that this is due to the improving market sentiment, and these investors are looking to capitalize on acquiring assets during a period of price dislocation.

The survey respondents expressed their preference for value-add investment strategy in 2025, particularly in the upscale and upper midscale hotel categories. This is a shift from the previous year’s survey, where the upper upscale category was ranked the most attractive asset type. The report attributes this change to the operational flexibility and greater scope for value-added opportunities offered by the upscale and upper midscale segment. This includes redevelopment, adaptive reuse, and rebranding of existing properties, which provide a cost-effective alternative to new developments.

Investors are also turning to long-stay or hybrid hospitality models, such as converting assets into co-living spaces. This trend is gaining traction in places like Japan, Hong Kong, and Singapore, where there is a demand for affordable accommodation amidst relatively inflexible rental markets. Other emerging trends highlighted in the report include a growing preference for assets with vacant possession at the time of acquisition, limited-service hotels, and a focus on minimising operational costs.

Tokyo remains the top preferred city for hotel investors, followed by Osaka, Singapore, Sydney, and Seoul, according to the survey. This is attributed to low interest rates and stable income streams generated by hotel properties. In Seoul, there has been an increase in investor activity due to the rise in daily rates, driven by more visitors from mainland China.…

On Feb 24, ETC (previously known as Edmund Tie) and OrangeTee Group announced their decision to merge and form a new holding company, which is yet to be named. According to ETC CEO, Desmond Sim, this is a meeting of minds rather than an acquisition.

Sim will continue to hold the role of CEO at ETC and will also serve as the group CEO of the newly merged entity. Justin Quek, the current CEO of OrangeTee & Tie, will become the deputy group CEO of the holding company.

Post-merger, ETC will focus on consultancy and advisory services, while OrangeTee will concentrate on proptech and its real estate agency business, supported by a network of 2,803 registered salespersons with the Council for Estate Agencies (CEA) as of Feb 24.

The merged entity will have a combined staff of over 520 and a sales force of 2,803 agents. According to Sim, this merger will allow them to leverage their expertise, resources and networks to drive growth, add value for stakeholders, and achieve the necessary scale to thrive in the ever-evolving real estate industry.

This merger follows the joint venture in August 2017, when Edmund Tie and OrangeTee combined their associates’ businesses under a new entity, OrangeTee & Tie, which saw a sales force of over 4,000 agents and propelled the company to third place among the top agencies in Singapore. Triplestar Holdings and TH Investments (linked to the family of Tat Hong Holdings’ managing director and group CEO, Roland Ng) acquired a stake in ETC in 2016, which facilitated this latest merger. Triplestar and TH Investments now own 100% stake in ETC.

When considering investing in a Singapore Condo, it is crucial to factor in the potential rental yield. Rental yield is the percentage of annual rental income compared to the property’s purchase price. In Singapore, condos can have varying rental yields depending on factors like location, property condition, and market demand. Generally, areas with high rental demand, like those near business districts or educational institutions, tend to offer better rental yields. Conducting thorough market research and seeking guidance from real estate agents, who have insights on the rental potential of a specific Singapore Condo, is crucial for making an informed investment decision.

ETC is also celebrating its 30th anniversary this year, while OrangeTee Group, an investment holding company established in 2000, will be marking its 25th anniversary. The firm is led by a board of directors and C-suite executives, including Quek, Marcus Oh, Teo Yak Huat, and Christine Sun.

Quek believes that with an enhanced brokerage and consultancy team powered by advanced proptech, they can have a bigger impact on the industry, delivering innovative and seamless solutions across all real estate sectors. Other stakeholders in OrangeTee Group include Tokyu Livable Inc., one of Japan’s biggest real estate agencies, and private property fund Vogue Capital Group. Both of these stakeholders will also have equity in the new holding company, along with Ng’s Triplestar Holdings and TH Investments.

Last year, ETC, through its joint venture in Malaysia, Nawawi Tie, opened an office in Johor Bahru, in addition to its presence in Penang and an associate in Thailand, Edmund Tie & Co (Thailand). Sim believes that this merger will open up more opportunities for them in the ASEAN region and Japan, especially through their partnership with Tokyu Livable.…

On Feb. 23, UOL Group and CapitaLand Development (CLD) proudly announced the successful launch weekend of ParkTown Residence in Tampines North, with 1,041 units sold out of 1,193 units, representing an impressive 87% sales rate.

According to Anson Lim, UOL’s general manager of residential marketing, the project achieved an average price of $2,360 per square foot (psf). The majority of buyers were Singaporean homebuyers or investors.

Out of the 1,193 units, 994 units (83%) were two and three-bedroom apartments, the most popular units, with 92% sold during the launch weekend.

The unique draw of ParkTown Residence as a fully integrated residential and lifestyle development, directly connected to a retail mall, future MRT station, bus interchange, green boulevard, community club, and hawker centre, was a key factor in attracting buyers, according to a spokesperson for UOL and CLD.

Prior to the launch weekend, ParkTown Residence had already received 2,367 cheques, resulting in a 44% sales conversion rate, which is significantly higher than the average 30% to 35% for most new project launches in recent years.

In the world of real estate investing, location is undeniably a critical factor to consider, and this is especially true in Singapore. The value of condos in this country is greatly influenced by their location, with properties situated in central areas or near important establishments like schools, shopping centers, and transportation hubs tending to appreciate more in value. Prime locations in Singapore, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown growth in property values over the years. One factor that contributes to this is the proximity of these areas to top-rated schools and educational institutions, making condos in these locations highly attractive for families looking to invest. For those interested in Singapore Condo investing, choosing a strategic location is key to maximizing their investment potential.

According to Mark Yip, CEO of Huttons Asia, no other mega project has sold more than 1,000 units in its launch weekend since the 1,399-unit High Park Residences, which sold 1,100 units over three days in July 2015.

Another notable achievement for ParkTown Residence is that it has surpassed the sales of previous integrated developments, with the most recent being the 732-unit The Reserve Residences, which recorded a 71% take-up rate during its launch weekend in May 2023. As of Feb 23, the project is 98.2% sold at an average price of $2,484 psf based on caveats lodged.

According to Marcus Chu, CEO of ERA Singapore, mixed-use developments integrated with transport hubs are highly sought after by homebuyers and investors due to their potential for capital appreciation and strong rental demand.

The last two fully integrated developments to be completed were the 920-unit North Park Residences in Yishun (launched in 2015) and the 680-unit Sengkang Grand (launched in 2019) in Buangkok. The average price of North Park Residences is $1,809 psf, which is 65% higher than the average resale prices of residential units in District 27. Meanwhile, Sengkang Grand commands an average price of $2,029 psf, 25% higher than the average resale prices in District 19, notes ERA’s Chu.

ParkTown Residence, located at Tampines Street 62, is part of the first mixed-use development integrated with a transport hub in Tampines. “A significant number of buyers were HDB upgraders who desired to live in Tampines,” says Huttons’ Yip.

The completion of ParkTown Residence in 2030 coincides with the scheduled opening of the Tampines North MRT Station on the Cross Island Line (CRL), a major arterial line running from east to west of Singapore, says Ken Low, managing partner of SRI. 2030 also marks the scheduled relocation of the neighbouring Paya Lebar Airbase, freeing up an estimated 800 hectares of land for future developments.

Under the URA Master Plan, three more government land sales (GLS) sites will be linked to the upcoming Tampines North MRT Station. “However, these new projects could potentially be launched at higher prices,” says Low.

By 2027, Tampines will also benefit from new infrastructure developments, including a cycling bridge, an underpass, and another 7.7km of cycling paths, bringing the total to 40km. A new pedestrian route will also be established between Tampines MRT Station and the malls in the regional centre. These additions were announced on Feb 22 as part of the Tampines Town Council’s five-year masterplan for 2025 to 2030.

“All of these will enhance the liveability in Tampines, which already has strong attributes,” says SRI’s Low.…

According to data from EdgeProp, on February 22, MCL Land and CSC Land Group jointly sold 326 units out of the 501 units available at Elta, a project in Clementi Avenue 1. This translates to about 65% of sales at an average price of $2,537 per square foot.

90% of the buyers were Singaporeans, while the remaining 10% were permanent residents. The majority of buyers came from districts 19 (primarily Hougang, Serangoon, Sengkang, Punggol, and northeast region), 5 (Buona Vista, Clementi, Dover, and Pasir Panjang), and 23 (Bukit Batok, Bukit Panjang, Choa Chu Kang, Hillview, and Dairy Farm).

The most popular units among buyers were the two-bedroom units, with 98% of the 179 units sold at prices ranging from $1.388 million ($2,261 per square foot). 81% of the 108 three-bedroom units were also sold at prices starting from $2.198 million. The one-bedroom plus study units were also popular, with 78% of them being sold at prices starting from $1.158 million.

Over 60% of the units sold were one- and two-bedroom units, with prices below $2.2 million, according to Ismail Gafoor, CEO of PropNex. “The strong sales reflect buyers’ confidence in a development that seamlessly blends modern living with convenience and comfort,” says MCL Land CEO Lee Tong Voon. MCL Land is the Singapore-based development arm of Hongkong Land.

Elta is the last of three private condos launched on government land sales (GLS) sites at Clementi Avenue 1. According to Ken Low, managing partner of SRI, there are no more development plots available in the Clementi town center. He believes that one of the main reasons for the strong sales is the track record of the projects at Clementi Avenue 1, with zero unprofitable transactions.

Based on caveats lodged, the average selling price of The Clement Canopy has increased by 45% to $1,922 per square foot this year since its launch in February 2017. Meanwhile, the average selling price at Clavon has risen by 27% to $2,086 per square foot this year since its debut in December 2020.

Elta is situated near various employment nodes such as the National University of Singapore (NUS), one-north, Pandan Loop Industrial Estate, the Science Park, Jurong Lake District, and the future Dover Knowledge District. In addition to being close to the Clementi MRT Station on the East-West Line, the upcoming Cross Island Line, which will run from east to west of Singapore, will have a station at Clementi. According to Mark Yip, CEO of Huttons Asia, the upcoming Cross Island Line will improve the connectivity in Clementi and potentially increase the quality tenant pool for ELTA.

The most popular units among investors were the one- and two-bedroom units, according to Marcus Chu, CEO of ERA Singapore. He adds that Clementi and Queenstown have a healthy pool of HDB upgraders, with over 2,500 HDB units reaching their Minimum Occupation Period (MOP) since 2021, and an additional 1,100 units set to do so this year. Chu also believes that the development’s proximity to several nature parks, including Clementi Woods Park, West Coast Park, and Kent Ridge Park, has contributed to its popularity among buyers.

The weekend of February 22-23 also saw the launch of the 1,193-unit ParkTown Residence, which moved 1,041 units. Combined, Elta and ParkTown Residence sold more than 1,300 units, surpassing the 1,083 new homes sold for the entire month of January. According to PropNex’s Gafoor, the sales momentum seen towards the end of 2024 has carried into the new year, and they anticipate the primary market to remain relatively lively in 2025 amid improved sentiment.

When it comes to investing in a Singapore condo, financing plays a crucial role. With a variety of mortgage choices available in Singapore, it is essential for investors to have an understanding of the Total Debt Servicing Ratio (TDSR) framework. This framework limits the amount of loan a borrower can obtain based on their income and existing debt obligations. To make well-informed decisions about financing, it is advisable to work with financial advisors or mortgage brokers who can provide valuable insights on navigating the TDSR and avoiding over-leveraging.

Huttons Data Analytics estimates that developers’ sales in February will exceed 1,500 units. According to Huttons, the total sales for the first two months of 2025 – estimated to be between 2,500 and 2,700 units – is equivalent to 39% of the total new sales of 6,469 units for the entire year of 2024. They have revised their full-year projection for 2025 to between 7,500 and 8,500 units, up from their previous estimate of 7,000 to 8,000 units. They also estimate a full-year price growth between 4% and 7%.…

CapitaLand India Trust (CLINT) is in the process of acquiring an office project in Nagawara, Outer Ring Road, Bangalore, for $233.6 million. This transaction will be carried out through a forward purchase agreement with Maia Estates Offices.

According to the group, this 1.13 million sq ft office project is expected to boost earnings and distributions for unitholders. On a stabilized basis, it is projected to generate a net profit of $7.7 million, while the distribution per unit is anticipated to increase from 6.84 cents to 6.98 cents.

The office project is part of a mixed-use development that includes office and retail spaces. Under the forward purchase agreement, CLINT will fully fund the development of the office project and receive interest on the funding at a higher rate than its borrowing cost.

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Upon the completion of the development, CLINT is set to acquire the office space in the first half of 2030, while Maia will retain the retail portion. This will add 1.13 million sq ft to CLINT’s operational area in Bangalore, bringing the total to 9.9 million sq ft from the current 8.7 million sq ft.

CLINT also has other properties under development in Bangalore, including two office buildings in Gardencity, an IT park at Hebbal, and another IT park at ITPB.

Investing in a condo offers various advantages, including the opportunity to leverage the property’s value for future investments. By using their condo as collateral, investors can secure additional financing for new investments, thereby expanding their real estate portfolio. This tactic can increase returns, but it also carries risks, making it essential to have a solid financial plan and consider potential market fluctuations. Additionally, with the emergence of Singapore Projects, condo investment becomes an even more appealing option, as this market offers a diverse range of opportunities for investors to diversify their portfolio and potentially increase their returns. However, it’s crucial to thoroughly research and carefully consider these projects before making any investment decisions.

With the acquisition of this office project, CLINT’s portfolio size, including its committed investment pipeline, will increase by 4.0% from approximately 30.2 million sq ft to approximately 31.47 million sq ft.

“The acquisition of this strategically located office project will further enhance CLINT’s presence in Bangalore, one of India’s most prominent office markets. In 2024, Bangalore saw the highest ever leasing levels for Grade A office space. ORR is the largest office micro-market in Bangalore. With the addition of this prime office property, we will be able to offer our tenants a wider range of premium office space options across key micro-markets in Bangalore,” says Gauri Shankar Nagabhushanam, CEO of CLINT.

On February 21, units in CLINT closed at $1.

In related news, CapitaLand India Trust is in the process of acquiring International Tech Park Pune from its subsidiary and JV partner for $221.9 million, and has also announced its collaboration with India developer L&T Realty to develop 6 million sq ft of prime offices in India.…

On February 22nd, Sim Lian Group announced the opening of its newest executive condo, Aurelle of Tampines, for e-application. This highly anticipated project, located at Tampines Street 62 in Tampines North, will be the first new EC launch of 2025.

Aurelle of Tampines boasts a prime location, just a five-minute walk from the upcoming Tampines North Transport Hub. This hub will include the Tampines North MRT Station, part of the upcoming Cross Island Line set to open in 2030. The hub will also feature an air-conditioned bus interchange, integrated with the mixed-use development, ParkTown Mall. Residents will have easy access to other amenities such as a Community Club, Hawker Centre, and ParkTown Residence, a 1,093-unit development also launching for sale on Feb 22.

The EC project spans across 301,391 sq ft and consists of fourteen 14-storey residential blocks. Designed for young professionals and growing families, Aurelle of Tampines offers a mix of three- to five-bedroom units.

Prices for available units at Aurelle of Tampines start from $1.417 million ($1,687 psf) for a three-bedder with 840 sq ft, $1.689 million ($1,651 psf) for a four-bedder with 1,023 sq ft, and $2.258 million ($1,665 psf) for a five-bedder with 1,356 sq ft.

Residents will enjoy a range of facilities, including seven pools and a clubhouse, as seen in the artist’s impression provided by Sim Lian Group. Next door to Aurelle of Tampines is the 618-unit EC Tenet, developed by Qingjian Realty and Santarli Realty. Launched in December 2022, the project has already sold 617 units at an average price of $1,385 psf. The highest transacted price on a psf basis was $1,651 for a 1,367 sq ft unit in December. As of Feb 21, there is only one unit left for sale at Tenet.

Securing financing is a crucial aspect of investing in a condo. In Singapore, there are various mortgage options available, but it is important to familiarize oneself with the Total Debt Servicing Ratio (TDSR) framework. This framework sets a cap on the amount of loan a borrower can take based on their income and current debt obligations. To make sound financing choices and prevent over-borrowing, investors should have a good understanding of the TDSR and seek guidance from financial advisors or mortgage brokers. Additionally, exploring Singapore Projects can provide investors with more information and options for financing their condo investments.

E-application for Aurelle of Tampines will start on Feb 22 and end on Mar 4, with sales bookings commencing on Mar 8. Interested buyers can approach the appointed marketing agents, ERA, Huttons, OrangeTee, and PropNex, for more information.

Under current EC regulations, during the initial launch period (the first 30 days), 70% of the units are reserved for first-time buyers, with only 30% open to second-timers. For those interested in Aurelle of Tampines, Tenet, and Parktown Residence, they can also use EP Buddy and URA Realis to view the latest listings, rental transactions, price trends, and available units.…

To summarize, purchasing a Singapore condo offers a multitude of benefits, including a strong demand, potential for appreciation in value, and attractive rental yields. However, it is crucial to carefully consider various factors such as location, financing options, government regulations, and market conditions before making a decision. By conducting thorough research and seeking professional guidance, investors can make informed choices and maximize their returns in the thriving real estate market of Singapore. Whether you are a local investor looking to expand your portfolio or a foreign buyer seeking a secure and profitable investment, Singapore condos present a compelling opportunity worth considering.

River Valley Apartments, a freehold condominium situated along River Valley Road, has been successfully sold for $56 million. This transaction marks the first residential collective sale deal to close in 2025, with a land rate of $1,622 psf per plot ratio (psf ppr). The strata-titled owners will receive a minimum of $2 million to $2.6 million each based on the selling price. According to Knight Frank Singapore, the marketing agent for the sale, the purchaser is a Singapore family office that intends to redevelop the site into serviced apartments. The Urban Redevelopment Authority (URA) has granted an Outline Permission for the development of serviced apartments on the site.

Chia Mein Mein, the head of capital markets (land and collective sale) at Knight Frank Singapore, notes that this is the first collective sale site sold in 2025, amidst a challenging collective sale market, particularly for the residential sector. The collective sale of River Valley Apartments is also the first residential collective sale site sold in a prime district since May 2023 when Kew Lodge was sold for $66.8 million to Aurum Land.

Chia also mentions that the tender for River Valley Apartments attracted significant interest, largely due to the site’s excellent locational attributes in the popular River Valley neighbourhood. The site’s redevelopment into a future serviced apartment project is well-positioned to tap into the fast-expanding living sector in Singapore.

River Valley Apartments comprises a four-storey building with 24 units. The 12,408 sq ft site, which is zoned ‘residential’, has a gross plot ratio of 2.8 under the latest Master Plan. The owners of River Valley Apartments launched the collective sale of the development on January 7th, with a guide price of $56 million. Jerry Tan, chairman of the River Valley Apartments collective sale committee, shares that the collective sale exercise was attempted in the past, but this is the first time they have secured the 80% owners’ consensus to proceed with the tender launch.…

8M Residences has emerged as the top private condo in terms of hitting a new psf-price peak during the week of February 1 to 7. The freehold development achieved a record-breaking psf price of $2,384 when a two-bedroom unit of 646 sq ft on the 15th floor was sold for $1.54 million on February 3. This marks the first time that a unit at 8M Residences has been sold for over $2,300 psf.

The recent sale surpasses the previous peak of $2,261 psf set in April 2023 when a similar two-bedroom unit on the 11th floor was sold for $1.46 million. Another transaction at 8M Residences during this period also surpassed the April 2023 record. On February 3, a one-bedroom unit of 527 sq ft on the 11th floor was sold for $1.2 million ($2,275 psf).

In terms of absolute price, the most expensive unit sold at 8M Residences was a three-bedroom unit of 1,841 sq ft that fetched $2.85 million ($1,548 psf) when it was sold by developers in October 2012.

Based on resale data from EdgeProp Singapore, prices at 8M Residences have consistently increased over the last few years. According to a 12-month rolling average, the average price of units at the condo has risen by 7.3% in the last three years, from $2,028 psf in February 2022 to $2,177 psf in February 2025.

Built in 2017, 8M Residences is a 20-storey residential tower with 68 units. It offers a mix of one- to three-bedroom units ranging from 517 to 1,421 sq ft, as well as four penthouses ranging from 1,184 to 1,841 sq ft. The development is conveniently located within walking distance to EtonHouse International Research Pre-School, Katong Swimming Complex, and Katong Park MRT Station along the Thomson-East Coast Line.

Rewritten:
The cityscape of Singapore boasts tall buildings and state-of-the-art infrastructure. Among them, condos stand out as a popular choice for both local residents and foreigners. These luxury residences are strategically located in prime areas, offering a perfect blend of comfort and convenience. With facilities like swimming pools, gyms, and round-the-clock security, they elevate the standard of living and draw the attention of potential renters and buyers. For investors, these attractive features result in higher rental returns and an increase in property value over time. Looking for a Singapore Condo? Look no further.

In second place on the list of condos that achieved a psf-price high is the sale of a three-bedroom unit at Kovan Jewel. This boutique freehold condo along Kovan Road in District 19 recorded a record-breaking sale when a 1,076 sq ft unit on the second floor was sold for $2.41 million on February 7, reaching a new high of $2,236 psf. This surpasses the previous peak set last August when a similar 1,076 sq ft unit on the fourth floor was sold for $2.4 million ($2,228 psf).

Completed last year, Kovan Jewel offers a range of one- to three-bedroom units from 624 to 1,345 sq ft, as well as four-bedroom penthouses from 1,237 to 2,153 sq ft. As of February 18, 50% of the 34 units at Kovan Jewel have been sold at an average price of $2,111 psf, based on caveats lodged. The unit sold on February 7 is the first unit sold this year.

Lastly, boutique condo Oleanas Residence takes third place on the list with the sale of a three-bedroom unit on the sixth floor for $2.52 million on February 3. This sets a new record of $2,207 psf at the condo, surpassing the previous high of $2,157 psf from the sale of a 1,238 sq ft unit for $2.67 million in August 2022. The most expensive resale unit at Oleanas Residence is a 1,636 sq ft, three-bedroom unit that was sold for $3.3 million ($2,017 psf) in December 2022.

Built in 1999, Oleanas Residence features a mix of one- to four-bedroom units ranging from 1,141 to 1,550 sq ft. It is conveniently located within walking distance to Great World MRT Station on the Thomson-East Coast Line and Fort Canning MRT Station on the Downtown Line. The condo also offers easy access to various educational institutions, including River Valley Primary School and Outram Secondary School.…

When contemplating an investment in a Singapore Condo, it is crucial to also evaluate its potential rental yield. Rental yield is the annual rental income expressed as a percentage of the property’s purchase price. In Singapore, rental yields for condos can vary significantly based on factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, offer more attractive rental yields. To better understand the rental potential of a specific Singapore Condo, conducting thorough market research and consulting with real estate agents can be highly beneficial. Additionally, accessing resources such as Singapore Condo can provide valuable insights into the rental potential of a particular condo.

Nassim 9, a luxury development, has set a new record for the most profitable private non-landed resale transaction during the period from Feb 4 to Feb 7. This transaction involved a 2,486 sq ft, four-bedroom unit located on the third floor, which was sold for $7.5 million, or $3,016 per square foot (psf), on Feb 7.According to Urban Redevelopment Authority (URA) caveats, the seller had previously purchased the unit for $4.12 million ($1,641 psf) in December 2005. As a result, they profited $3.42 million, which translates to 83.8% of their original purchase price. This equates to an annualised gain of 3.2% over 19 years.Nassim 9 saw a 2,486 sq ft, four-bedroom unit sell for $7.5 million ($3,016 psf), reaping a profit of $3.42 million (Photo: Samuel Isaac Chua / EdgeProp Singapore)This transaction is currently the third-most profitable resale transaction at Nassim 9 to date. The current record was set in March 2023, when a larger four-bedroom unit spanning 2,756 sq ft was sold for $9.5 million ($3,448 psf). This unit had been purchased for $4.12 million ($1,495 psf) in December 2005. As a result, the seller made a profit of $5.38 million (130.6%), which equates to an annualised gain of 5% over 17 years.Read also: 8M Residences sets new price high of $2,384 psfAdvertisementAdvertisementPrior to the unit sold on Feb 7, the last recorded transaction at Nassim 9 was in March 2023, when a 3,251 sq ft, four-bedroom unit was sold for $10.3 million ($3,169 psf). This generated a profit of $3.3 million.Nassim 9 is a boutique condo situated along Nassim Road in prime District 10. Completed in 2002, the four-storey development has four-bedroom units spanning from 2,756 to 3,423 sq ft.Luxury development, Mount Faber Lodge, saw a triplex penthouse unit sell for $5 million ($1,350 psf). This was the second most profitable resale during the period in review. The unit was last sold in August 2001 for $1.6 million. As a result, the seller profited $3.4 million (212.5%), or an annualised gain of 5% over 23½ years.The unit sold on Feb 5 is the most profitable unit transacted at Mount Faber Lodge to date. The previous record was held by a three-bedroom unit spanning 2,669 sq ft on the third floor that was sold for $3.89 million ($1,457 psf) in October 2022. The unit had been bought for $1.3 million ($487 psf) in January 2006. Hence, the seller made a profit of $2.59 million (199.2%).Completed in 1983, Mount Faber Lodge is a boutique freehold development located along Mount Faber Road in District 4. The 84-unit condo comprises of studio units spanning 1,098 sq ft, along with two- and three-bedroom units from 1,173 to 2,454 sq ft. The development also has 20 five-bedroom triplex penthouses sized from 3,703 to 3,724 sq ft.The third-most profitable deal during the period in review was the sale of a three-bedroom unit at Amaryllis Ville, a 99-year leasehold condo in prime District 11. The 1,238 sq ft unit on the 28th floor was sold for $2.65 million ($2,141 psf) on Feb 5. It had last changed hands for $1.09 million ($884 psf) in June 2005. This resulted in a profit of $1.56 million (142.2%), or an annualised gain of 4.6% over 19½ years.Read also: Sydney luxury project Aura by Aqualand to launch in Singapore with prices from A$2 milAdvertisementThe Feb 5 transaction was the third-most profitable unit to be sold at Amaryllis Ville. The record belongs to a 1,991 sq ft, three-bedroom unit on the 17th floor that was sold for $3.75 million ($1,885 psf) in September 2023. The unit had been purchased for $1.95 million ($979 psf) in June 2009. As a result, the seller made a profit of $1.8 million (92.5%), or an annualised gain of 4.7% over 14 years.According to resale data tabulated by EdgeProp Singapore, resale prices at Amaryllis Ville have been consistently increasing in recent years. Based on a rolling 12-month average, the average price hit $1,897 psf in February 2023 before rising to $2,001 psf in February 2024. Last month, the average price rose to $2,082 psf, signifying a 4% y-o-y increase.The 311-unit Amaryllis Ville is located along Newton Road. Completed in 2004, the condo houses one- and two-bedroom units from 657 to 1,378 sq ft and three-bedroom units from 958 to 2,637 sq ft. The development also has 129 five-bedroom units spanning from 3,703 to 3,724 sq ft. Nearby condos include Rochelle at Newton, a 129-unit condo along Keng Lee Road, and Kopar at Newton, a 378-unit condo along Makeway Avenue.There were no unprofitable transactions during this period. 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