Condo Horn by Eagles

The cityscape of Singapore is characterized by its towering skyscrapers and advanced infrastructure. Condominiums, strategically situated in desirable locations, offer a perfect fusion of opulence and accessibility, catering to the preferences of both locals and foreigners. These lavish properties boast a plethora of facilities including swimming pools, fitness centers, and round-the-clock security services, elevating the standard of living and appealing to prospective renters and buyers alike. For investors, these attractive amenities translate into lucrative rental returns and appreciation of real estate value in the long run. This is why Singapore Projects are highly sought after in this vibrant city.

A prime strata-titled unit of 3,391 sq ft at Bukit Timah Plaza mall has been listed for sale, with an asking price of $9.8 million ($2,890 psf). This reflects a discount of 12% from its previous listing price of $11 million in the third quarter of 2022. The property is approved for restaurant use and is currently fully leased, making it an attractive investment opportunity for potential buyers.

The unit, situated in the basement two of the mall, boasts a 20m frontage facing the central plaza. According to Clemence Lee, CBRE’s executive director of capital markets, who is marketing the property, the unit will be sold with the existing tenancy in place. It holds a 99-year lease from 1976, with a remaining lease of 50 years.

The asking price is in line with recent transactions for units in basement two. In March 2024, a 441 sq ft unit was sold for $1.43 million ($3,240 psf), while an 850 sq ft unit fetched $2,5 million ($2,940 psf), based on lodged caveats.

Bukit Timah Plaza, a mixed-use development completed in 1979, comprises a four-storey retail mall and two apartment blocks with 269 residential units at Sherwood Towers. According to CBRE, the mall is one of the most popular destinations in Bukit Timah, famed for housing one of the largest Fairprice Finest supermarkets in Singapore, spanning over 44,000 sq ft.

The mall is conveniently located within walking distance of Beauty World and King Albert Park MRT stations, providing easy access for shoppers and residents alike. The surrounding area is home to a large number of private residential developments, with an estimated population of about 37,000.

Bukit Timah Plaza is also surrounded by various educational institutions, including Singapore Institute of Technology (SIT), Singapore Institute of Management (SIM), Ngee Ann Polytechnic, Methodist Girls’ School, and Pei Hwa Presbyterian Primary School.

The property is also situated in the rapidly developing Beauty World area, which is undergoing rejuvenation with the introduction of new mixed-use, integrated developments. These include The Reserve Residences and the redevelopment of the former Bukit Timah Market and Food Centre, expected to be completed by late 2029.

The unit is available for sale through expression of interest, with the closing date set for Mar 19. Interested parties can check out the latest listings for Bukit Timah Plaza and Sherwood Towers properties for more information.…

A set of adjacent retail units at Peninsula Plaza is currently available for purchase at $10.9 million. These units, which boast a 999-year leasehold, are located on the ground floor and have a prominent frontage along North Bridge Road.

The combined strata area of the two units is 1,119 sq ft, with one unit covering 538 sq ft and the other covering 581 sq ft. Based on this strata area, the asking price translates to $9,741 per sq ft.

Currently, the units are tenanted until 2026 and the asking price represents a gross rental yield of 3%.

According to Nick Chan, Associate Director of Investment Sales & Capital Markets at Savills Singapore, who is handling the sale on a private treaty basis, these units are arguably the best within the development due to their street frontage and consistent footfall.

Peninsula Plaza, constructed in 1980, is a 999-year mixed-use commercial building that comprises a six-storey retail podium and a 24-storey office tower. It is situated along North Bridge Road, Coleman Street, and Coleman Lane and features a sheltered link to City Hall MRT Interchange Station for the North-South and East-West lines.

The most recent transaction of a ground-floor retail unit at Peninsula Plaza was in August 2022 when a 452 sq ft unit sold for $4.08 million, which equates to $9,025 per sq ft based on the lodged caveat then.

Since the Urban Redevelopment Authority (URA) implemented restrictions on the strata subdivision of commercial properties within the CBD and Orchard corridors in March 2022, Savills’ Chan notes that strata-titled units with 999-year or freehold tenure have become highly sought after.

The cityscape of Singapore is defined by impressive skyscrapers and state-of-the-art infrastructure. Condominiums, strategically situated in desirable locations, offer a combination of opulence and convenience that appeals to both local residents and foreigners. These luxurious residences are equipped with a variety of facilities, including swimming pools, fitness centers, and round-the-clock security services, to elevate the standard of living and attract potential renters and buyers. For investors, these amenities equate to higher rental returns and appreciation in property values over time. Additionally, with the constant influx of new condo launches, the condo market in Singapore remains a promising and dynamic investment opportunity.

Additionally, Peninsula Plaza’s close proximity to the City Hall MRT Interchange Station further adds to its appeal. It is now easier for potential buyers to access this property, making it a desirable investment opportunity.…

Brand New Land and Tellus Design: Revolutionizing Semi-Detached Living

The team at Brand New Land had a vision to bring the elements of luxury Good Class Bungalows (GCBs) into more accessible semi-detached homes. To achieve this, they enlisted the help of Pau Loh, managing director of Tellus Design, a well-known name in GCB design with whom they have a 30-year collaboration. Together, they created a collection of four semi-detached homes in Bukit Timah and Upper Bukit Timah that incorporate the best practices of GCB homes.

The semi-detached homes at 23 & 23A Maple Avenue boast an impressive frontage of over 24 meters. Inspired by the beauty of nature, the homes at 25 & 25A Jalan Selanting and 23 & 23A Maple Avenue are affectionately known as “The Great Trees Collection”. These homes range in size from 2,790 to 3,130 square feet, and each one comes equipped with a lift, swimming pool, and gourmet kitchen.

In line with Brand New Land’s philosophy of bringing value to their clients, the homes are priced within the bank valuation range, leaving room for potential upside for buyers.

GCB-Inspired Design Elements

The cityscape of Singapore is defined by towering skyscrapers and state-of-the-art infrastructure. With prime locations, condos in Singapore offer a perfect mix of opulence and practicality, making them a desirable choice for both locals and foreigners. These residential developments boast a plethora of facilities including swimming pools, fitness centers, and round-the-clock security services that elevate the overall living experience. These attributes also make them an enticing option for potential tenants and buyers, while investors can expect promising rental returns and long-term appreciation of their Singapore Condo.

Based on the concept of dedicated zones seen in large bungalow homes, the semi-detached homes feature separate areas for receiving guests, dining, gourmet cooking, and entertainment spaces, as well as different living zones for larger or smaller groups. The entrance area at 23 Maple Avenue offers stunning views of the pool and greenery, while 25 Jalan Selanting has private corners for intimate conversations. The second floor of 23 Maple Avenue seamlessly connects with the first floor while maintaining the privacy of separate living zones, and the Sky Terrace at 25 Jalan Selanting serves as an entertainment zone with a breathtaking view of Bukit Timah Nature Reserve.

“We love the intimacy that these dedicated spaces create. Under the same roof, you can have family and friends being at home together, but with your own space and privacy,” emphasizes Alvina Teh, Co-Founder and Director of Brand New Land Group.

Ceremonial Entrances

“The experience of coming home, stepping in from the outside world into your own space, is something we hold close to our hearts when we develop our homes. We want to bring this special experience to our community,” says Tatiana Teh, Client Relations Director of Brand New Land Group.

Each semi-detached home has a ceremonial entrance framed by lush greenery, the soothing sounds and reflection of water, and warm and rich façade materials, creating a remarkable transition from outside to home. The homes at 25 Jalan Selanting and 23 Maple Avenue enjoy calming views of natural elements from various parts of the home.

Luxurious Architecture and Materials

Taking inspiration from Loh’s signature style that has proven successful for GCBs in Singapore’s tropical climate, the homes feature wide overhanging eaves and deep recesses that provide shelter and cool the interiors. Thoughtful execution of horizontal design elements, such as the wraparound golden sand façade treatment and horizontal planters, give the homes a spacious and luxurious aesthetic. The use of nature-inspired cladding elements at 23 Maple Avenue and rich midnight tones and timber-effect cladding make a statement. Inside the home, rich timber grain, precious marble, and German bath fittings create an atmosphere of quiet luxury.

Collaboration with Arclinea Singapore

Brand New Land has teamed up with luxury kitchen specialist Arclinea Singapore to create gourmet kitchen experiences in these homes. Both brands share the common objective of inspiring everyday connections in extraordinary kitchen spaces. With a predominantly GCB clientele, Arclinea brings a special edge to the kitchens at 25 Jalan Selanting and 23 & 23A Maple Avenue.

“Our vision for this collection is to bring the best GCB design principles into our semi-detached homes,” says Alvina. “We are blessed to work alongside Pau Loh, a very skilled and steady architect, who helped make it happen. We are very excited for the future that these homes will create for the lives they touch.”

To view these homes, please call 8893 7602. For more information and updates on upcoming launches, visit www.brandnewland.com.sg and follow the group on Instagram, Facebook, YouTube, and LinkedIn. If you are interested in collaborating with the group or have land with development potential, please email comehome@brandnewland.com.sg.…

An HDB shophouse located at 214 Serangoon Avenue 4 will be put up for auction at SRI’s next auction on Feb 26 with a guide price of $1.98 million. The 99-year leasehold property comes with living quarters on the second floor and spans a total floor area of 1,668 sq ft, translating to $1,187 psf.

This is not the first time the shophouse has been listed for auction by SRI. It was previously up for auction in January with a guide price of $2.08 million, but did not find a buyer.

Assistant manager of auctions at SRI, Jansen Kee, says that the shophouse is strategically located in front of a bus stop, giving it good visibility from the road. It is currently tenanted and is generating a gross rental yield of approximately 6.2% based on the guide price, according to Kee.

The shophouse will be sold with its existing lease, which ends in 2026. This provides the new owner with an immediate stream of rental income. Kee also notes that the listed guide price for the HDB shophouse is one of the lowest in the area, making it an attractive value proposition for both investors and owner-occupiers.

According to URA records, the most recent commercial shophouse transaction in Serangoon was the sale of a 999-year leasehold shophouse along Lichfield Road. The two-storey property spanned a land area of 2,319 sq ft and fetched $4 million ($1,725 psf) in November 2024.

When it comes to investing in condos in Singapore, one must also consider the government’s property cooling measures. Over the years, the Singaporean government has implemented various measures to control speculative buying and maintain a healthy real estate market. This includes the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may impact the immediate profitability of condo investments, they ultimately contribute to the long-term stability of the market, making it a secure environment for investing. With the addition of new condo launches, the market continues to thrive and attract potential investors.

The property up for auction is situated within a cluster of HDB flats that border the Serangoon Gardens landed residential estate. It is located directly across the road from Serangoon Swimming Complex and Serangoon Sports Centre, providing the area with a steady supply of foot traffic. There are carparks available behind the shophouse.…

An EOI exercise is now open for a four-bedroom duplex apartment at the prestigious freehold condo, 3 Orchard By-The-Park, with a guide price of $15.8 million.

The decision to invest in a condo in Singapore has become increasingly favored by both local and foreign investors, thanks to the country’s strong economy, stable political climate, and overall high quality of life. The real estate market in Singapore presents a wealth of opportunities, and condos are particularly appealing for their convenience, amenities, and potential for profitable returns. In this article, we will delve into the advantages, factors to consider, and necessary steps to take when making an investment in a Singaporean condo property.

The spacious unit, measuring over 3,800 sq ft, translates to a price of approximately $4,158 psf, as per Huttons Asia, the marketing agent for the property. It boasts a soaring ceiling height of 4m and a private lift, and three of the four bedrooms come with ensuite bathrooms. The current owner has invested over $700,000 in renovating the unit three years ago, making it a truly luxurious and modern living space.

Located on Orchard Boulevard, 3 Orchard By-The-Park was completed in 2017 and was designed by renowned Italian architect Antonia Citterio. It comprises three elegant 25-storey towers, housing a total of 77 units. These units range in size from two- to four-bedrooms, ranging from 1,066 sq ft to 3,800 sq ft. There are also exclusive penthouses of 6,555 sq ft to 6,900 sq ft available for those seeking an even more opulent lifestyle.

Conveniently located near the bustling shopping district of Orchard Road, residents can also enjoy easy access to top schools such as Anglo-Chinese School (Junior), Anglo-Chinese School (Primary), ISS International School (Elementary & Middle School Campus) and Singapore Chinese Girls’ School (Primary). The upcoming Orchard Boulevard MRT Station (Thomson-East Coast Line) is also within close proximity.

Recent transactions at 3 Orchard By-The-Park suggest strong demand for luxury homes in this coveted address. The EOI exercise for the four-bedroom duplex apartment will close on March 5 at 4pm. Interested parties can view the latest listings for 3 Orchard By-The-Park on EdgeProp and use the Buddy feature to compare price trends of new sale and resale condos, as well as rental yield and the most expensive average PSF for condominiums in District 10.…

Huttons Asia reports that the shophouse market has remained quiet in 2024, with 84 recorded transactions. This figure is below the average of 200 deals per year that were recorded between 1995 and 2023.

Senior director of data analytics, Lee Sze Teck, notes that although many buyers did not lodge a caveat, 2024 saw the lowest number of shophouse deals since 1998. The total value of the 84 transactions was $683.6 million, a 38.9% decrease from the previous year’s $1.1 billion.

However, Lee mentions that there were also several significant un-caveated shophouse deals last year, including properties on Amoy Street, Neil Road, North Bridge Road, and Telok Ayer Street, which were likely sold for more than $200 million.

The largest shophouse deal in 2024 was the sale of The Rail Mall by Paragon REIT for $78.5 million in June. Lee remarks that this is likely the largest shophouse deal on record, surpassing the previous record of $74.8 million for a row of shophouses along Jalan Sultan in March 2022.

The Rail Mall shophouses were valued at $62 million in December 2023, indicating a potential gain of $16.5 million for the seller. Most of the shophouse transactions in 2024 were for smaller quantums, with over half of the recorded deals falling in the $5 million to $15 million range.

District 8 saw the highest number of shophouse transactions in 2024, which Lee attributes to its desirable location near the city center and lower prices compared to Districts 1 and 2.

The key to successful real estate investment in Singapore lies in one major factor: location. It is widely known that properties situated in central areas or in close proximity to important amenities such as schools, malls, and public transportation hubs are more likely to experience substantial value growth over time. For instance, the sought-after Orchard Road, Marina Bay, and Central Business District (CBD) areas have consistently shown an upward trend in property values. In addition, families with school-going children often prioritize the proximity to reputable educational institutions when searching for their dream home, making these locations even more alluring for real estate investments. Therefore, if you are considering investing in Singapore Projects, carefully evaluating the location is crucial. These prime locations have proven to be a wise choice for real estate investments due to their high demand and potential for appreciation in value.

Additionally, shophouse rents islandwide saw a 2.6% decline in the fourth quarter of 2024, with a monthly average of $6.47 per square foot. However, for the entire year, shophouse rents increased by 1.7%.

On the market for conservation shophouses, a set of properties on Telok Ayer Street is currently up for sale at $42 million.…

CBRE’s Singapore Market Outlook 2025 report, released on Jan 23, highlights the potential for divergent outcomes across the real estate market in the next 12 months due to an uncertain macroeconomic outlook.

While easing inflation and interest rates are expected to provide some relief for the property market, Moray Armstrong, managing director and advisory services at CBRE, cautions that expectations of slowing economic growth in 2025 could harm property demand. The Ministry of Trade and Industry’s projection of 1-3% GDP growth for Singapore in 2025, lower than the 4% growth in 2024, further adds to this uncertainty.

Armstrong also points out that a range of other factors could potentially impact the market in the short term, including ongoing geopolitical tensions, a new US administration with a nationalistic agenda, and the upcoming release of the URA Master Plan 2025 in mid-year. Despite these mixed signals, opportunities are still present in the real estate market for participants who can capitalize on emerging trends.

Tricia Song, CBRE’s head of research for Singapore and Southeast Asia, shares this optimism, noting that the market continues to be buoyed by limited new supply and stable demand. She predicts that despite the unknowns, the Singapore property market will maintain its trademark stability and resilience, appealing to investors from all over the world.

The report highlights that new launches are expected to sustain private residential sales momentum, with developer sales volume surging threefold to 3,511 units in the last quarter, rebounding from record lows in the first nine months of 2024. Prices also rose 2.3% quarter-on-quarter, the highest quarterly growth in 2024. The increase has prompted speculation of new cooling measures, but CBRE believes this is unlikely unless prices rise sharply in the coming quarters.

Developers are expected to continue launching new projects, potentially adding 12,000 to 14,000 units to the market this year, nearly double the 6,647 units launched in 2024. This is projected to result in 7,000 to 8,000 units sold in 2025, up from 6,469 units in 2024. CBRE predicts a price growth of 3-6% and rental growth of 1-3% for the year.

Limited supply is also expected to support prime office and retail rents, as URA data shows that developer sales volume surged threefold to 3,511 units last quarter, rebounding from record lows registered in the first nine months of 2024. Prices rose 2.3% q-o-q, marking the highest quarterly growth in 2024.

The rebound prompted speculations of fresh cooling measures, but CBRE believes this an unlikely scenario, citing limited supply and stable demand as the driving forces behind the market’s resilience. The report predicts rental rates will grow between 1% and 3% this year.

The limited supply is also expected to support rents in the retail property market, with an estimated 0.5 million sq ft of new retail space being launched in 2025, 40.4% lower than in 2024 and below the 10-year historical average of 0.91 million sq ft per annum. CBRE also notes that leasing sentiment for retail property remains positive, supported by inbound tourism and a robust pipeline of entertainment and events. As such, they predict average retail prime rents to grow by 2-3% in 2025, recovering to pre-pandemic levels.

In the industrial sector, CBRE predicts that a bumper supply of almost 5 million sq ft of warehouse space will be completed this year. However, 60% of this space has already been pre-committed, which should prevent downward pressure on occupancy rates and keep prime logistics rents relatively flat in 2025.

Singapore is known for its urban landscape, characterized by modern infrastructure and towering high-rise buildings. One of the most sought-after properties in the city are condos, strategically located in prime areas. These condos provide a perfect combination of luxury and convenience, making them appealing to both local Singaporeans and expatriates. What sets these condos apart is their impressive list of amenities such as swimming pools, gyms, and round-the-clock security services, which greatly enhance the overall quality of life. These attractive features not only make them desirable for potential tenants and buyers but also translate into higher rental yields and increased property values over time for investors. If you are looking for top-notch properties in Singapore, check out the latest Singapore Projects which offer the best in terms of location, amenities, and investment potential.

Despite this, CBRE believes real estate investment volume in Singapore will continue to grow in 2025, albeit at a slower pace. Interest rate cuts and bolstered investor sentiment and appetite are expected to persist into 2025, with the majority of investors transacting in Singapore real estate anticipating purchasing the same volume or more compared to 2024. However, given the ongoing economic and geopolitical uncertainties, CBRE predicts investors will be more selective, opting for specific sectors or strategies with a more favorable outlook. They anticipate a 10% year-on-year growth in investment volumes in 2025, barring any major macroeconomic shocks.

CBRE’s survey also found that the industrial and logistics sector remained the most preferred among investors, followed by residential properties and office properties.…

Limited land availability is one of the top contributing factors to the soaring demand for condos in Singapore. Being a small island country with a continuously expanding population, land scarcity has become a major issue for development in Singapore. This has resulted in strict land use regulations and a cut-throat real estate market, where property rates are constantly on the rise. In light of this, investing in real estate, specifically condos, has become a highly lucrative opportunity with the potential for significant capital appreciation. With top-notch projects like Singapore Projects in the market, the popularity of condos shows no signs of slowing down anytime soon.

Please revise the attached article:The sale of a three-bedroom unit at Palm Spring was the most profitable resale transaction from January 14 to 28, based on caveats lodged.According to the caveats, the 1,884 sq ft unit on the fourth floor sold for $4.4 million on January 20, making it 264% more valuable than when it was purchased for $1.21 million in August 2005. This translates to an annualized profit of 6.8% over nearly 20 years.This transaction marks the highest resale profit to date at Palm Spring, surpassing the previous record of $2.56 million (185%) when a 1,970 sq ft unit on the first floor was sold for $3.94 million in April 2023. The unit was bought for $1.38 million in January 2003.Palm Spring has consistently seen rising prices over the past two decades, based on a tabulation of resale transactions by EdgeProp Singapore. In January 2015, the average transacted price was $1,439 psf and it has since increased to $2,342 psf last month. In comparison, the average price in January 2005 was $973 psf.Two notable transactions took place at Palm Spring last year. In September, a 947 sq ft unit was sold for $2.19 million ($2,312 psf), resulting in a profit of $990,000. In addition, a 1,496 sq ft unit was sold for $3.36 million ($2,246 psf) in October, earning a profit of $2.24 million.Palm Spring is a freehold condominium located on Ewe Boon Road in prime District 10. It was built 28 years ago in 1997 and has a total of 167 units. The condo’s prime location is conveniently situated near Stevens MRT Interchange on the Downtown (DTL) and Thomson-East Coast Lines, as well as Newton MRT Interchange on the North-South Line and DTL.Meanwhile, the second most profitable resale transaction during this period was the sale of a four-bedroom unit at Orchard Bel Air, which earned a profit of $3 million (182%) when it changed hands on January 15. The 3,229 sq ft unit on the 12th floor fetched $4.65 million ($1,440 psf) and was bought for $1.65 million in May 2001. Over nearly 24 years, this results in an annualized profit of 4.5%.The sale of a 3,229 unit at Orchard Bel Air earned a profit of $3 million when it changed hands on January 15. The 99-year leasehold condo was built in 1984 and has around 54 years left on its land tenure. The only other 99-year leasehold condo in the area is the neighbouring Cuscaden Reserve, a luxury condo with 192 units that was completed in 2023. According to transaction data, the average price at Cuscaden Reserve is approximately $3,043 psf.The record profit at Orchard Bel Air is held by the sale of a 6,512 sq ft penthouse unit on the 25th floor that was sold for $8.3 million ($1,275 psf) in January 2013. This unit was purchased for $3.83 million in March 2006.AdvertisementMoreover, the most unprofitable transaction between January 14 and 28 occurred at Marina Bay Suites. On January 24, the seller of a 1,625 sq ft unit on the 58th floor incurred a loss of $1.15 million (27%) when it was sold for $3.1 million. The same unit was sold for $4.25 million in May 2012, resulting in an annualized loss of 27% over nearly 13 years.This transaction is the latest in a series of unprofitable deals at Marina Bay Suites, with 14 consecutive loss-making transactions in the past nine months. Losses range from $40,000 to $2.5 million.Marina Bay Suites is a 99-year leasehold condo within the Marina Bay Financial Centre mixed-use development. The 66-storey residential tower has 221 units and is located at Central Boulevard and Marina Boulevard. Based on a tabulation of caveats, the average selling price at Marina Bay Suites has declined from $2,502 psf in January 2015 to $1,921 psf as of January this year. Other nearby 99-year leasehold condos such as The Sail @ Marina Bay, Marina Bay Residences, Marina One, and V on Shenton command higher resale prices ranging from $2,047 psf to $2,242 psf.…

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When purchasing a condominium, it is crucial to take into account the maintenance and management aspects of the property. These properties usually come with maintenance fees that cover the maintenance of shared spaces and amenities. While this may increase the overall cost of ownership, it also guarantees that the property stays well-maintained and maintains its value. To make condo ownership a more passive investment, it may be beneficial for investors to enlist the services of a property management company. For instance, Singapore Projects offer reliable property management services to help investors handle the daily operations of their condominiums. This allows investors to focus on other ventures while ensuring their condo remains in excellent condition.

and property cyclesA three-bedroom unit at Watertown, located within the Waterway Point integrated development in Punggol, is set to be auctioned off by SRI on February 26. The unit, which spans 1,281 sq ft and sits on the 13th floor, is a mortgagee sale with a guide price of $2.4 million, or $1,874 per sq ft.This is not the first time the unit has been put up for auction, as it previously appeared on SRI’s January auction with the same guide price. However, it was withdrawn as the sole bid received fell under the reserve price.The spacious unit features a combined living and dining area, an open-concept kitchen, a utility room and toilet, and a south-facing balcony that offers a scenic view of one of the condo’s 20 swimming pools. It also comes with an ensuite master bedroom, two additional bedrooms, and a common bathroom.Read also: Park Nova penthouse hits a high of $6,593 psf, second-highest condo psf price in SingaporeThe expansive unit boasts a large living and dining area, a state-of-the-art kitchen, and a gorgeous balcony that overlooks the condo’s multiple swimming pools. (Photo: SRI)According to URA caveats, the owners of the unit purchased it directly from the developers in October 2013 for a sum of around $1.8 million, equivalent to $1,281 per sq ft.So far this year, Watertown has seen only one unit change hands, which was a two-bedroom unit of 958 sq ft that sold for $1.7 million, or $1,775 per sq ft, on January 19. In 2020, there were a total of 41 resale transactions at the development, with an average price of $1,700 per sq ft.However, larger units in the development have seen stronger demand and can fetch higher prices per sq ft, notes Eric Liew, manager of auctions and sales at SRI. Out of the 41 resale transactions at Watertown last year, 10 of them involved larger units with three or more bedrooms. These units were sold at an average price of $1,854 per sq ft, which is about 9% higher than the condo’s overall average transacted price for the year.The spacious units at Watertown have seen an increase in demand from HDB upgraders and those looking for a primary residence near Punggol MRT Station, according to Eric Liew of SRI. (Photo: SRI)“The majority of interest we have seen comes from HDB upgraders looking for a bargain, as well as individuals who are planning to use the unit as their primary residence due to its close proximity to Punggol MRT Station,” says Liew.Watertown is a luxurious 992-unit condo that boasts 11 residential towers atop a sprawling six-storey mall known as Waterway Point. It offers one- and two-bedroom units ranging from 533 sq ft to 1,003 sq ft, and larger three- and four-bedroom units from 821 sq ft to 1,582 sq ft.Read also: MCL Land and CSC Land Group to preview Elta on Feb 7 with prices from $1.158 milAdvertisementThe six-storey Waterway Point shopping mall features over 200 retail and dining outlets. (Photo: Far East Organization)Located directly above Punggol MRT Station on the North East Line and connected to Punggol LRT Station, the mall was completed in 2017 and was jointly developed by Far East Organization, Frasers Centrepoint, and Sekisui House.Waterway Point also grants easy access to several primary schools in the area, such as Edgefield Primary School at Edgefield Plains, Oasis Primary School at Punggol Drive, Punggol Green Primary School at Punggol Walk, Compassvale Primary School at Compassvale Street, and Punggol Cove Primary School at Sumang Walk.…

The government has recently announced the extension of the Central Business District Incentive (CBDI) and Strategic Development Incentive (SDI) schemes for another five years. These schemes were first introduced in November 2019 and the decision to extend them was revealed by Minister of National Development, Desmond Lee, at the Real Estate Developers’ Association of Singapore (Redas) annual Spring Festival lunch on Feb 7.

The CBDI scheme was introduced to encourage the conversion of older office buildings in certain areas of the Central Business District (CBD) into mixed-use developments. These areas include Tanjong Pagar, Robinson Road, and Shenton Way. The aim of the scheme is to increase the number of homes, enhance the population in the CBD, and introduce a diverse mix of uses in the traditionally commercial-focused district.

On the other hand, the SDI was introduced to promote the redevelopment of older developments in strategic areas to drive transformative changes in the surrounding urban environment. The strategic areas include Orchard Road, the Central Business District, and Marina Centre. Interested buyers can find information on the latest New Launches to discover the transaction prices and available units.

According to the Urban Redevelopment Authority (URA), out of 17 proposals submitted for the CBDI, 14 have been granted in-principle approval. Similarly, out of 12 proposals submitted for the SDI, seven have been granted in-principle approval. Currently, there are four CBDI projects under construction in the Anson-Tanjong Pagar area, including Newport Plaza, a mixed-use development on 80 Anson Road, which comprises 246 residential units and 198 serviced apartment units. Another project, Skywaters Residences, will offer 190 luxury residential units as part of a larger mixed-use development on 8 Shenton Way. There are also two commercial developments at 15 Hoe Chiang Road and 51 Anson Road.

However, the five-year extension of the CBDI and SDI will come with some refinements, according to Minister Lee. The CBDI will now be expanded to include commercial developments in Anson and Cecil. Developers and property owners who submit proposals for these areas will have the option to retain their commercial zoning (with 40% non-commercial use) if the redevelopment includes long-stay serviced apartment units.

Obtaining a condo in Singapore has emerged as a preferred option for both domestic and international investors, thanks to the country’s strong economy, stable political climate, and exceptional quality of life. The real estate sector in Singapore boasts of various prospects, and among them, condos are highly sought after for their convenience, facilities, and promising returns. This piece will delve into the advantages, factors to consider, and necessary actions to take when investing in a condo in Singapore. Interested investors can also explore Singapore Projects for potential opportunities.

In order to be eligible for the CBDI, applicants looking to redevelop in Anson and Cecil will have to provide at least 200 residential units, or allocate their entire non-commercial floor area for long-stay serviced apartments, whichever is lower. Previously, office buildings redeveloped under the CBDI were allowed to retain their existing commercial zoning as long as 40% of the new floor area was dedicated to non-commercial use.

CEO of ERA Singapore, Marcus Chu, says, “By promoting the continual renewal of aging buildings in the CBD and adding more residential units, these incentives aim to transform the CBD into a place where people can work, live, and play.”

Moreover, the revamped CBDI and SDI schemes will now incorporate new sustainability requirements. All new applications must include a sustainability statement evaluating the feasibility of retrofitting part, or all, of the existing building. “While we support revitalisation and rejuvenation through redevelopment, we do not want wasteful demolition and excessive rebuilding, particularly for buildings that are relatively new or in good condition,” says Lee. He also notes that some projects being redeveloped under these schemes have gone beyond the mandated sustainability requirements, such as Union Square, a mixed-use development at Havelock Road, which is incorporating a district cooling system.

Potential buyers can check out the latest listings for Skywaters Residences to gain more information on the property. Additionally, they can also look up the upcoming new launch projects and recent TOP projects in the market.…