Condo Russian Remote

Ardmore Park, a luxury freehold condo in the prestigious Ardmore-Draycott enclave of prime District 10, has been making headlines as one of the top performers in the resale market. According to data from the Urban Redevelopment Authority (URA), it has accounted for the first, second and fourth most profitable condo resale deals of 2024, based on caveats lodged as of December 17.

One of the biggest gains came from the sale of a 2,885 sq ft, four-bedroom unit on the 26th floor. This unit was sold on February 16 for $12.9 million ($4,472 psf), while it was originally purchased from the developer for $5.83 million ($2,022 psf) back in July 1996. This translates to an impressive profit of $7.07 million and a 121% gain after holding the unit for around 27 and a half years.

Another four-bedroom unit measuring 2,885 sq ft on the 18th floor was sold for $12 million ($4,160 psf) on July 24, making it the second-highest gain of the year. The previous owner bought the unit in December 2000 through a sub-sale transaction for $5.2 million ($1,803 psf), profiting $6.8 million or 131% after a holding period of about 23 and a half years.

Ardmore Park also clinched the fourth-most profitable deal of the year, with another four-bedroom unit selling for $12.5 million ($4,333 psf) on April 22. The seller had bought this unit in February 2007 for $6 million ($2,080 psf), making a profit of $6.5 million (108%) after owning it for over 17 years.

This freehold development, located in District 10 and completed in 2001, has consistently registered significant gains in recent years. In 2024 alone, Ardmore Park saw three other units – all 2,885 sq ft four-bedders – change hands and the sellers reaped handsome profits of between $2.65 million and $3.05 million. The year before, four resale transactions for Ardmore Park were recorded, with the sellers making $2.8 million to $8.16 million in profits.

Apart from Ardmore Park, other mature freehold condos in District 10 also made the list of top gains this year. This includes Beverly Hill, a boutique development with only 86 units located on Grange Road that was completed in 1983. On July 15, a four-bedroom unit measuring 3,778 sq ft on the fifth floor changed hands for $9.15 million ($2,422 psf), making it the fifth-most profitable resale deal of the year. The previous owner made a profit of $5.47 million or 149%.

Other freehold condos in District 10 that saw top profitable deals include Astrid Meadows, Regency Park, Fontana Heights, and Wing On Life Garden, which were completed between 1982 and 1990 and are all over 30 years old.

The demand for condominiums in Singapore remains high due to the limited land available in the small island nation. Despite strict land use regulations and a competitive real estate market, property prices continue to rise, making real estate investment, particularly in condos, an appealing opportunity for potential buyers. This trend is further fueled by the constant stream of new condo launches, with new condo launches constantly coming onto the market. As Singapore’s population continues to grow rapidly, the demand for condos shows no signs of slowing down.

Despite the older age of these properties, they still fetched impressive profits for their sellers. This shows the strong demand and value placed on freehold properties in prime locations like District 10.

However, not all condos in Singapore saw big gains this year. The year’s most unprofitable condo resale transaction came from the sale of a five-bedroom duplex penthouse measuring 3,789 sq ft at Marina Collection, a 124-unit condo in Sentosa Cove, on July 22. This unit was originally bought for $9.39 million ($2,479 psf) back in March 2010 but was sold for $6.7 million ($1,768 psf), resulting in a loss of $2.69 million or 29%.

In fact, half of the 10 least profitable condo resale transactions of the year came from Sentosa Cove condos. Another example is the sale of a four-bedroom unit measuring 2,680 sq ft at Seascape for $4.5 million ($1,679 psf) on August 14. This unit was originally bought from the developer in October 2010 for $7.03 million ($2,623 psf), resulting in a loss of $2.53 million or 36%.

The Singapore Luxury Condo Index showed that prices in the Core Central Region (CCR) rose by 1.8% in Q3 2024 – the highest increase among the three regions. This indicates that luxury properties in prime locations are still highly sought-after, and the resale market for them remains strong.

In summary, the resale transactions at Ardmore Park this year demonstrate the potential for capital gains from luxury freehold condos in prime locations like the Ardmore-Draycott enclave in District 10. They also highlight the continued high demand for such properties in the current market.…

List Sotheby’s International Realty’s Director of Research, Han Huan Mei, reports that the Good Class Bungalows (GCBs) market has performed significantly better in 2023 compared to the previous year. As of December 20, 22 GCB transactions were recorded on URA Realis with a total value of $612.05 million. Additionally, there were 13 GCB deals completed without caveats lodged, bringing the estimated total for 2024 to 35 transactions worth $1.32 billion. This surpasses 2022’s record high of $1.186 billion in GCB transactions.

On the other hand, 2023 only saw 18 GCB deals worth $432.5 million, the lowest recorded since URA Realis began tracking data in 1995. However, according to Han Huan Mei, the additional deals in 2024 show that the GCB market has been more active than official transaction data reveals, reinforcing its status as a highly coveted asset among ultra-high-net-worth buyers.

The highest-priced GCB transaction was recorded at Tanglin Hill for $93.888 million, setting a new record with a land rate of $6,197 psf. The second-highest deal was the $84 million purchase at Bin Tong Park by Xiang Yangyang, daughter of Chinese nickel billionaire Xiang Guangda, although no caveat was lodged for the property. Other notable transactions include a GCB on Cluny Hill for $52 million and a 21,116 sq ft GCB plot at Astrid Hill for $49 million.

According to Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors Inc (SRI), at least 14 transactions this year were valued at $20 million or more, highlighting the strong demand for ultra-luxury properties in Singapore. Sixteen of the recorded GCB transactions this year took place in prime District 10, including Tanglin, Bukit Timah, and Holland Road.

When contemplating a condo investment, it is crucial to also evaluate the potential rental yield. The rental yield is the yearly rental income expressed as a percentage of the property’s purchase price. In Singapore, the rental yields for condos can vary significantly depending 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, tend to offer more attractive rental yields. To gain a better understanding of the rental potential of a specific condo, conducting thorough market research and seeking guidance from real estate agents can be immensely beneficial.

Sustained buying activity throughout the year, with a surge in July, indicates strong demand for GCBs despite external economic factors such as inflationary pressures and high interest rates in the first half of the year, according to Sandrasegeran.

Steve Tay, co-founder and executive director of his boutique luxury agency, attributes the stronger buying sentiment in the GCB market to the trajectory of interest rates signalled by the US Federal Reserve (Fed). Ultra-wealthy Singaporeans, newly naturalised citizens, and successful entrepreneurs in technology, finance, commodities, and F&B businesses are the main contributors to the exclusive pool of GCB buyers.

Han reports that the GCB market slowed down in 2020 due to buyers’ retreat following the island-wide arrests of suspects in Singapore’s largest money laundering case. She adds that the market is expected to continue its positive momentum, driven by demand from ultra-high-net-worth individuals. The preference for privacy among GCB buyers and sellers could also lead to off-market transactions, making it challenging to track market activity.…

Singapore’s capital market property deals reached an estimated $25.8 billion between January and November this year, according to Wong Xian Yang, head of research for Singapore & Southeast Asia at C&W. This marks a 40.2% y-o-y increase from the $18.4 billion recorded in 2023. C&W defines capital market transactions as deals valued at over $10 million.

In the second half of 2024, there was a surge in investor appetite and increased confidence in interest rate cuts by the US Treasury, leading to almost 60% of the capital market deals being transacted.

Three deals exceeding $1 billion were made in 2024, all of which occurred in the second half of the year. The highest-value transaction by absolute price was the sale of a 50% stake in ION Orchard mall for $1.85 billion to CapitaLand Integrated Commercial Trust (CICT) on Sept 3. The seller was CapitaLand Investment (CLI). The remaining 50% stake is held by Hong Kong-listed property developer Sun Hung Kai Properties.

ION Orchard is an eight-storey retail mall in the heart of the shopping belt, directly linked to Orchard MRT Station. It boasts a net lettable area of 623,000 sq ft and is home to over 300 international and local brands. Above the mall is The Orchard Residences, a 54-storey, 175-unit luxury condo tower.

Mapletree Anson was the highest-valued office deal of the year, selling for $775 million in the second quarter of 2024.

Investing in a condo offers a multitude of advantages, including the opportunity to use the property’s value to secure additional investments. In fact, a considerable number of investors utilize their condos as collateral in order to acquire funding for new ventures, effectively expanding their real estate portfolio. This approach can significantly increase profits, but it is also important to have a comprehensive financial plan in place and carefully consider the potential consequences of market fluctuations. As a result, it is advisable to seek assistance from a professional when considering Singapore Condo investments.

There was a surge in investment in industrial assets, with investments reaching $5.6 billion in the first 11 months of 2024, a 174% increase from the previous year. The biggest deal in the industrial sector was the $1.6 billion sale of a portfolio of seven industrial properties by Soilbuild Business Space REIT to a joint venture platform owned by private equity firm Warburg Pincus and Australia-listed Lendlease Group in August.

Soilbuild Business Space REIT is controlled by global asset manager Blackstone and Lim Chap Huat, executive chairman of Soilbuild Group. This transaction was also the second-largest capital market deal in 2024.

Keppel DC REIT acquired two data centres for $1.38 billion, making it the third-highest valued transaction of the year. These data centres, Keppel DC Singapore 7 and 8, are fully contracted to cloud services, internet enterprises, and telecommunications providers.

Despite several Government Land Sales (GLS) sites remaining unsold this year, residential development sites sold via GLS tenders accounted for 42% of total investment sales for the year. Four GLS sites on the Confirmed List for 2024 failed to be awarded due to low bid prices and site-specific concerns.

Investment in the retail sector also saw notable growth of 149% y-o-y, reaching $3.3 billion between January and November this year. The office segment also showed signs of recovery, with $2.37 billion in investment value, a 15.7% y-o-y increase.

On the other hand, shophouse investments fell by 49.7% y-o-y to $584 million, which may be attributed to dampened investor sentiments following money laundering investigations in August 2023.

C&W’s Wong is optimistic about seeing an increase in high-value deals in 2025, with the expected cut in interest rates by the US Fed. CBRE Research also anticipates a 10% growth in investment volumes from 2024 to 2025, barring any macroeconomic shocks.…

Consumer spending has not been as strong as expected, which is likely to have a dampening effect on rental forecasts for the retail property market in Singapore by the end of this year. According to Alan Cheong, executive director of research and consultancy at Savills Singapore, the monthly retail sales index (excluding motor vehicles) and food and beverage (F&B) sales index have mostly been negative throughout this year, indicating weaker consumer spending.

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The popularity of condos in Singapore can be attributed to the scarcity of land in the small island nation. The growing population and limited space for development have resulted in strict land utilization regulations and a competitive real estate industry. As a result, property prices continuously rise, making investing in real estate, specifically condos, a highly profitable opportunity with the potential for significant capital appreciation. This is evident in the demand for Singapore Projects as well.

Cheong predicts that prime retail properties in the Orchard Road area may see a 2% increase in rents by the end of the year, falling short of the initial forecast of 3% to 5% growth at the beginning of the year. Meanwhile, suburban retail rents are expected to remain flat, in line with the initial forecast for this segment.

Research jointly published by DBS and Singapore Management University (SMU) shows that consumer concerns over higher inflation have mostly eased in recent quarters. The headline inflation expectations among Singaporeans remained at 3.8% between June and September. The research, led by SMU’s Sim Kee Boon Institute for Financial Economics, also found that many expect inflation to stabilize in the coming quarters due to the global economic slowdown, high interest rates, and potential easing of supply chain disruptions.

The latest consumer spending data published by the Singapore Department of Statistics revealed a 0.3% year-on-year increase in retail sales (excluding motor vehicles) in October, reversing the 1.5% decline in September. Cheong notes that a more positive scenario for the retail market would be if consumer spending kept pace with inflation, but the fact that it has been relatively low poses financial challenges for businesses in the industry.

Despite a busy schedule of headline concerts, conferences, and exhibitions, retail spending and rental rates in Singapore have not seen significant support. CBRE’s research, released last month, showed that while these events led to higher foot traffic in nearby malls, the impact was mixed. While concerts by international stars like Taylor Swift, Blackpink, Coldplay, and Westlife attracted over 500,000 attendees, contributing between $350 million and $450 million in tourism receipts, other MICE (meetings, incentives, conferences, and exhibitions) events did not have a similar effect on retail activity.

In Singapore, leisure and business events, including the Formula One Grand Prix, the 25th World Congress of Dermatology, and the NRF 2024 and ART SG events, were hosted. According to CBRE, business event attendees tend to stay exclusively at the event venue, while the F1 race, one of Singapore’s top international events, did not significantly boost foot traffic in tourist-centric areas such as Orchard Road.

However, Sulian Tan-Wijaya, executive director of retail and lifestyle at Savills Singapore, notes that Singapore’s position as a regional hub has continued to attract new-to-market brands. She mentions some notable retail stores that opened this year, including KSisters, The Pace, Brands for Less, Hoka, Rekoop, and Hideaway. She also observes the emergence of new F&B concepts, such as Sushi Samba, Blue Bottle, Grey Box, Puzzle Coffee, Centre of the Universe, and Rasa, which will open in December. These new entrants have also boosted demand for retail spaces and supported rental growth, especially in central Singapore.

Cheong also notes that all prime shopping malls along Orchard Road had high occupancy rates this year, as retail businesses had strong confidence in the retail market. He adds that Singapore continues to be a desirable destination for new-to-market brands entering the region, which includes retail, F&B, and lifestyle concepts. Tan-Wijaya predicts the emergence of new wellness concepts and restaurants that offer entertainment, which will enhance the vibrancy of Singapore’s dining scene.

In the coming year, retail landlords may have more flexibility to implement positive rental adjustments as the supply of new retail spaces becomes more limited. This will allow them to strategize and position their malls to remain relevant in the rapidly evolving consumption patterns of both locals and tourists, according to Cheong. He also expects retailers to optimize their real estate strategies, which may include right-sizing their spaces, establishing additional kiosks, closing under-performing branches, or shifting cooking operations to central kitchens. Cheong anticipates strong momentum in the entry of new-to-market F&B brands into Singapore, which will continue through at least the first half of 2025.…

The year 2024 has presented numerous challenges for the global luxury goods market. Uncertainties in the macroeconomy and rising prices among luxury brands have led to a decrease in consumer spending on luxury retail items.

According to a recent Bain & Company report, global sales of personal luxury goods are expected to decline by 2% this year, with the Chinese market experiencing a significant decline of 20-22%. Major luxury brands such as Richemont Luxury, LVMH, and Moncler Group have reported a slight decrease in earnings, while Kering has seen more significant declines. However, outliers such as Hermes and Prada Group, which also includes notable performer Miu Miu, have experienced double-digit earnings growth.

Despite these challenges, Singapore remains a crucial market for luxury brands. Euromonitor reports a growth of 11% in luxury goods sales in 2023, reaching $9.1 billion. In recent years, luxury brands like Dior, Chanel, and Louis Vuitton have adopted robust digital strategies, including e-commerce and digital marketing, to connect with customers.

In response to the ever-evolving consumer behaviors and preferences, luxury brands have recognized the importance of incorporating digital marketing platforms and creating offline shopping experiences to forge a stronger connection with their customers.

In Singapore, luxury brands have continued to open new stores, with Cartier, Moncler, and Marc Jacobs launching new boutiques at Changi Airport, while Marni, Graff, and Golden Goose have also opened new stores at Marina Bay Sands. These brands are renowned for their timeless elegance and heritage, and they have embraced the digital world by creating immersive and memorable experiences for their customers.

Embracing digital marketing platforms is crucial for luxury brands, especially in a world where consumer expectations and preferences are rapidly changing. However, these brands have also recognized the significance of creating unique offline experiences for their top-tier clients. This has led to the trend of flagship stores becoming bigger and bolder, providing customers with an elevated shopping experience.

For instance, Louis Vuitton recently opened its 690 sq m (7,427 sq ft) “apartment concept” space at Ngee Ann City, exclusively dedicated to its “Very Important Clients (VICs)”. Burberry also reopened its renovated stores at Marina Bay Sands and Paragon this year, showcasing the brand’s rich British heritage while embracing innovation. Moreover, Burberry opened a new store on Orchard Road at Wisma Atria in November, featuring a double-height facade.

The increase in store size and the trend of providing unique experiences for top-tier clients is evident among luxury brands. Yves Saint Laurent opened its Saint Laurent duplex store in Paragon last year and a YSL beauty boutique in Raffles City recently, while Richard Mille launched its world’s largest standalone store on St Martin’s Drive. This 7,500 sq ft store incorporates a “speakeasy” concept, featuring a sports bar and dining room.

Looking ahead, spending on luxury goods is expected to grow in 2025 and beyond, driven by factors such as the rising number of high-net-worth individuals globally, the buying interest of Millennials and Gen Z, the resurgence of Chinese tourists, and the growth of duty-free shopping, particularly in Japan.

Investing in a condominium in Singapore offers numerous benefits, with one of the main advantages being the potential for capital appreciation. Given its strategic position as a global business hub and its robust economic foundation, Singapore consistently experiences a high demand for real estate. As a result, property prices in the country have displayed a consistent upward trajectory, with condos in prime locations experiencing significant appreciation. Savvy investors who enter the market at the right time and hold onto their properties for the long term can reap substantial capital gains. Moreover, with the addition of new developments such as Singapore Projects, the potential for capital appreciation is only expected to increase.

To cater to the changing preferences of its target customers, luxury brands will continue to personalize and customize their products and services to establish stronger connections and brand loyalty. Moreover, leveraging AI and digital experiences to understand customer wants and complement offline experiences will be crucial.

Some luxury brands have already embraced AI and digital technology to stay ahead of the competition. Dior’s AI platform, Astra, utilizes data from various sources such as Google reviews, live shopping sessions, and customer surveys to understand customer preferences better.

Additionally, Balenciaga’s Winter 2024 collection at Paris Fashion Week featured an immersive digital canvas, incorporating AI-driven digital distortions. Brunello Cucinelli has also created a separate website powered entirely by generative AI.

Despite 2024 being a challenging year for the luxury goods market, growth is in sight for 2025 and beyond as luxury brands continue to expand their presence, create larger flagship stores, and offer elevated experiences for their top clients. With Millennials and Gen Z forming a significant portion of the target market, luxury brands will continue to incorporate sophisticated digital technology and platforms while developing strong omnichannel strategies that include immersive and interactive physical stores.

Sulian Tan-Wijaya, Executive Director (Retail & Lifestyle) at Savills, highlights the importance of embracing digital platforms and creating unique experiences for customers in the luxury goods market.…

The Swiss brand, V-ZUG, stands firm in its commitment to simplicity and quality with its timeless approach to product design. While the world of interior design is in constant flux with new styles taking the center stage, V-ZUG believes that functionality and elegance will never go out of style. This belief forms the basis of the brand’s design philosophy.

Since its inception in 1913, V-ZUG has captured the attention of developers and designers of luxury homes. Today, the brand’s presence can be felt not only in its home country of Switzerland but also in major cities around the world, including Shanghai, London, and Singapore.

V-ZUG’s appliances are all united by a focus on sleek lines, setting the brand apart from its competitors. The brand has a keen eye for blending durability and aesthetics, creating modern kitchen designs that seamlessly combine tradition, quality, and contemporary aspirations.

At the heart of V-ZUG’s design process lies devotion to crafting and maintaining exceptional quality. Each appliance is meticulously handcrafted in Switzerland and goes through a strict quality control process before it is deemed fit to reach consumers. From ovens to induction cooktops and fabric preservation appliances, V-ZUG’s engineers test all products to ensure exceptional performance.

The brand’s commitment to sustainability is evident in its use of Circle-Green recycled stainless steel by Outokumpu. This sustainable material generates only 7% of the emissions associated with traditional stainless steel production.

The demand for condos in Singapore remains exceptionally high, and a major factor driving this trend is the limited availability of land. As a small but densely populated island nation, Singapore struggles with scarce land resources for new development projects. This has resulted in strict land use regulations and a fiercely competitive real estate market, where property prices continue to soar. As a result, investing in real estate, particularly Singapore Condos, has become an incredibly profitable venture due to the promise of significant capital appreciation.

V-ZUG collaborates with renowned chefs from Michelin-starred restaurants to develop its kitchen appliances, ensuring that each product is equipped with the necessary functions to create top-notch meals. By making professional-grade kitchen technology accessible, V-ZUG elevates the daily culinary experience of passionate home cooks.

When it comes to aesthetics, V-ZUG focuses on creating products that seamlessly integrate into any home. Its minimalist design language and wide range of products cater to the needs of all households.

For example, V-ZUG’s series of wine cabinets includes the full-height WineCooler V6000 Supreme and the WineCooler Undercounter Swiss Luxury (UCSL). These cabinets come in various sizes but all feature two temperature zones, making it easy to store different types of wine. The brand’s attention to customization ensures that its products fit seamlessly into any space without compromising on quality.

In addition to consistency in design, V-ZUG also emphasizes on clean, sleek lines throughout its range of products. Features such as mirrored glass fronts add a touch of elegance to the overall aesthetic of the appliances.

Creating a simple end product is a challenging task, but at V-ZUG, every detail is carefully considered. Whether it’s the way a wine cabinet’s doors open and close or the hues of the LED lights on a refrigerator, the brand pays attention to every aspect to ensure that all elements work in harmony to create a practical and harmonious home.

Apart from kitchen appliances, V-ZUG also offers products like the RefreshButler, which sanitizes and deodorizes clothes, making them look as good as new. With a focus on seamless design, V-ZUG is committed to providing extraordinary living experiences for its consumers, while also promoting sustainable living practices.…

On December 4, VisionPower Semiconductor Manufacturing Company (VSMC) broke ground on a new US$7.8 billion ($10.5 billion) wafer manufacturing facility in Tampines. This plant is expected to produce 55,000 wafers per month by 2029 and create approximately 1,500 new jobs. VSMC is a joint venture between Taiwan’s Vanguard International Semiconductor Corporation and the Netherlands’ NXP Semiconductors.

But VSMC is not the only company investing in Singapore’s semiconductor industry. In March, Japan’s Toppan Holdings began construction on a factory in Jurong Lake District that will produce semiconductor packaging materials. The estimated investment for this project is $450 million.

According to Leonard Tay, head of research at Knight Frank Singapore, many chipmakers and related businesses are choosing to set up new production plants and R&D campuses in Singapore to enhance their supply chain resilience. He also notes that Singapore continues to be a global production hub for semiconductors and chips due to its stable economy amidst ongoing geopolitical tensions in other parts of the world.

The global semiconductor industry is currently on the rebound after a downturn in 2020 due to softer demand and higher supply. Research by London-based consultancy Omdia shows a 26% year-on-year increase in revenue for the first three quarters of 2024, a reversal from the 9% year-on-year decrease in 2023. This rebound has had a positive impact on Singapore’s manufacturing sector, which saw an 11% year-on-year growth in output in the third quarter of 2024, led by the electronics cluster.

However, the industrial property market in Singapore has not seen the same level of growth. While industrial rents have been rising steadily since 2020, the pace of growth has slowed down. In the first three quarters of 2024, the JTC All Industrial Rental Index grew by 1.7%, 1%, and 0.3% respectively. This is in contrast to the 8.9% rental increase seen in 2023, indicating a more cautious sentiment among occupiers in light of the uncertain macroeconomic environment.

According to Catherine He, Colliers’ head of research for Singapore, occupiers have been more prudent with their spending due to budget constraints, placing a high value on flexibility in response to the changing market dynamics. Tricia Song, head of research for Singapore and Southeast Asia at CBRE, also notes that consolidation in the logistics and e-commerce space has contributed to growing occupier resistance.

Despite this, the industrial sales market has been more active, with several large transactions taking place in the second and third quarters of 2024. These include the sales of BHL Factories at 2C Mandai Estate for $74 million in May and Kian Ann Building at 7 Changi South Lane for $63 million in June. In the third quarter, a joint venture between Warburg Pincus and Lendlease Group acquired a $1.6 billion portfolio of seven industrial assets from Soilbuild Business Space REIT. This increased the industrial property sales to $2.45 billion in the third quarter of 2024, a significant increase from the previous quarters.

However, with the incoming supply of new industrial properties expected to nearly double the average annual supply in the past three years, there is likely to be an imbalance between supply and demand. As a result, rental and price growth for industrial properties are expected to slow down in the near term. Business park rents may face the most pressure, as companies downsize their workspace or use more flexible arrangements in response to the pandemic.

Nevertheless, demand for multiple-use factory space, centrally located food factories, and logistics space is expected to remain strong. The electronics and advanced manufacturing sectors are also likely to continue performing well and attracting investments. Additionally, the growth of data centers will be a significant factor in the industrial property market, as Singapore plans to increase their capacity by at least 300 megawatts by 2024. On the other hand, business park rents may continue to face pressure as companies adapt to flexible working arrangements.

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The bustling cityscape of Singapore is a testament to its cutting-edge architecture and modern amenities. Among the many dazzling developments, stand out as a prime example of luxury and convenience. These boast a privileged location, making them a highly coveted choice for both local residents and expats alike. Along with their prime location, these residential buildings offer an array of lavish amenities including but not limited to swimming pools, gyms, and top-notch security systems, elevating the overall living experience. It’s no surprise that have become a popular investment option, promising high rental yields and increased property values in the future. For those seeking a lucrative investment opportunity, are a wise choice. Additionally, you can add Condo for a more detailed description of the property.

Overall, the industrial property market in Singapore is expected to stabilize in 2025, with slower rental and price growth compared to previous years.…

To sum up, opting to invest in a condominium unit in Singapore offers a plethora of benefits, ranging from its high demand in the market to its potential for significant appreciation in value and desirable rental yields. Nevertheless, it is crucial to carefully consider various factors, such as location, financing options, government regulations, and prevailing market conditions. By conducting thorough research and seeking guidance from industry professionals, investors can make well-informed decisions and maximize their returns in Singapore’s ever-evolving real estate scene. Whether you are a local individual seeking to diversify your investment portfolio or a foreign purchaser looking for a stable and lucrative opportunity, the condominium developments in Singapore, including the ones offered by Singapore Projects, present a compelling investment opportunity worth considering.

Kassia on Flora Drive: Where East meets West and privacy mattersChua Guan Hin (蔡源衡), news release/PropertyMarket in 2024 experienced two contrasting halvesThe property market in 2024 was a tale of two halves, with a sluggish start followed by a sharp rise in sales towards the end of the year. This is according to data from Huttons Data Analytics, which reported the lowest number of units launched for sale and sold in the first half of the year since 1996.The exception to this trend was the launch of Lentor Mansion, a boutique development with 533 units, which achieved a 75% take-up rate during its launch weekend in March. However, most other project launches in the first half of the year saw lacklustre sales compared to 2023, with market sentiment being described as “tentative and cautious” by Mark Yip, CEO of Huttons Asia. This could be attributed to uncertainties in the job market and persistently high interest rates, leading buyers to hold back and wait for highly anticipated projects such as Chuan Park and Emerald of Katong.Search for the latest New Launches to find out transaction prices and available units, suggests Yip.The market saw a shift in sentiment following the Lunar Seventh Month, with the launch of the 276-unit freehold Kassia on Flora Drive in late July recording a 52% take-up rate and setting the stage for strong sales momentum. This continued into the third quarter of the year, with new home sales leaping 60% quarter-on-quarter, thanks to the 50-basis point interest rate cut by the US Federal Reserve in September.The increased sales momentum was further evidenced in October, when over 50% of the units at Meyer Blue were snapped up in private sales, with units being transacted at an average price of $3,260 psf and setting a new benchmark for the prime District 15 enclave on the East Coast.Norwood Grand, a 348-unit development in Woodlands, also saw strong sales performance with a take-up rate of 84% during its launch in October. This marked the first time a project in Woodlands surpassed the $2,000 psf threshold, with units being sold at an average price of $2,067 psf. According to Yip, this was a clear signal of growing buyer confidence and demand, and triggered a tidal wave of activity in November.With a record-breaking six new projects comprising 3,551 units launched over just 10 days, November saw a surge in developer sales to 2,557 units – the highest figure since March 2013. This strong performance pushed total developer sales for the first 11 months of 2024 to 6,344 units, and the year-end figures are expected to surpass 6,500 units, exceeding the 6,421 units sold in 2023. Yip believes that this reflects the strength and resilience of the property market, and underscores the enduring appeal of property as an asset for wealth creation and preservation.Huttons’ Yip and Chia Siew Chuin, JLL’s head of residential research, both attribute the unusually strong performance in November to a year-end rush to launch projects. Chia notes that while the sales figures are impressive, it is unlikely to prompt any regulatory intervention unless there are signs of persistent market overheating in the first quarter of 2025. However, she says that any intervention will depend on sustained sales momentum and a sharp increase in property prices outpacing GDP growth.Interested in Kassia? Compare price trends of Condo vs EC new sales in the area and view the 2-bedroom floor plans and site plan for the development.…

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The Singapore Condo market remains highly sought after due to the limited land availability in the country. Being a small island with a rapidly increasing population, Singapore faces a shortage of land for development. As a result, strict land use regulations are in place, creating a competitive real estate market where property values are constantly on the rise. As a lucrative investment, Singapore Condos offer the potential for significant capital appreciation.

The residential property market in 2024 saw a steady return to pre-pandemic levels, with projects in the Rest of Central Region (RCR) and Outside Central Region (OCR) dominating the list of best-selling new launches. According to Mark Yip, CEO of Huttons Asia, this was largely driven by strong demand from upgraders, supported by a robust HDB resale market. In fact, three of the top 10 best-selling projects were launched in November alone. The top-performing project of 2024 was Emerald of Katong, which managed to sell an impressive 99% of its units within just two days. The 846-unit, 99-year leasehold development has only six units remaining as of December 17. To get the latest updates on new launches and to check out available units and prices, be sure to search for “New Launches” on our website.In second place is Chuan Park, a 916-unit project which sold 76% (696 units) of its units in a single day on November 10. As of December 17, the project is now 79% sold. The strong sales were attributed to the lack of new condo launches in the neighbourhood since The Scala in 2010.Following closely behind is Lentor Mansion, which sold 75% (399 units) of its 533 units during its launch weekend in March. As of December 17, the project has now sold 92% of its units.Then, there’s Nava Grove, which ranked fourth with a take-up rate of 65% (359 units) during its launch weekend in November. As of December 17, the project has sold almost 70% of its units.It’s worth noting that there are other projects in the top 10 list which have seen strong sales throughout the year, with some even achieving over 80% sales even before the pandemic. For instance, Norwood Grand managed to sell 84% (291 units) of its 348 units since its launch in October. In January, Hillhaven achieved a take-up rate of 76% (259 units) and has since continued to gather momentum, with 76% of its 341 units now sold. Moving on, Kassia on Flora Drive has seen strong sales since it launched in March, moving 65% (180 units) out of 276 units to date. Similarly, Lentoria, a 267-unit freehold project located in Lentor Hills Estate, saw sales climb from just 19% on its first weekend of launch in March to 66%, with 177 units now sold.Read also: Nava Grove achieves 65% sales on launch weekend at an average price of $2,448 psfIn terms of the projects that were launched in 2023, four projects saw significant take-up rates of more than 200 units this year, which were largely boosted by other new projects in their respective neighbourhoods. The biggest beneficiary of Emerald of Katong’s launch was The Continuum, a freehold development with a total of 816 units. The project sold 233 units in 2024 alone, with 60% of those units sold since November. Its current take-up rate stands at 66% since its launch in May 2023. Over at Tembusu Grand, 53% (204 units) of its 638 units were sold during its launch weekend in April 2023. However, after the sentiment improved in 3Q2024, sales picked up, with the project now 91% sold as at December 17. Much like Tembusu Grand, Hillock Green had also launched in November 2023, where it achieved a take-up rate of 27.6% during its first weekend of sales. This year, the project has sold 217 units, bringing total sales to 359 (76%). Finally, Pinetree Hill, a 520-unit project, experienced strong sales following the release of its second phase of units in September. Its 208 sales in 2024 bring its total sales to 374 (72%). The nearby launch of Nava Grove in November also helped generate interest for the project, which is located in District 21.…

Ensuring proper financing is crucial when considering investing in a condominium. In Singapore, there are various mortgage choices available, but it is crucial to be well-informed about the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan a borrower can take, taking into consideration their income and current debt obligations. It is wise to understand the TDSR and seek the advice of financial experts or mortgage brokers to make informed decisions and avoid excessive borrowing. Additionally, investors can also explore potential Singapore Projects to make a more informed decision about their condo investment.

2025 and Beyond: The Future of FM and Sustainable Built Environment in SingaporeAs we approach 2025, the built environment in Singapore is poised for significant transformation. The facilities management (FM) sector is facing a new set of challenges, including evolving regulatory demands, cost pressures, and technological advancements. In order to thrive and contribute to a sustainable built environment, FM must adapt and innovate to meet these challenges. There are three key drivers that will shape the future of FM in Singapore: the mandatory energy improvement regime, the impact of rising temperatures on energy costs, and the growing trend towards adaptive reuse in construction.There is a growing focus on sustainability in Singapore, and one of the key initiatives driving this is the Mandatory Energy Improvement regime, which will be implemented in the third quarter of 2025. This mandate will require existing energy-intensive buildings, such as commercial, healthcare, institutional, civic, community, and educational buildings with a gross floor area exceeding 5,000 sq m, to undergo energy audits and implement energy-efficiency improvement measures. This presents a significant opportunity for asset owners to take a medium to long-term view on capital expenditure-heavy investments in energy-efficient systems. By implementing the right strategies, buildings can achieve the target of reducing their energy usage intensity by 10% from pre-energy audit levels.Asset owners who participate in this energy improvement regime will not only contribute to a more sustainable built environment, but also reap benefits such as prolonging the lifespan of their assets, reducing long-term operating costs, and being eligible for grants to help cover the costs of energy efficiency upgrades. This will position them as leaders in the industry in terms of sustainability.Temasek Polytechnic is one such leader, as it has embarked on a bold ambition to digitise its campus operations in 2021. This smart campus is a model for sustainable facilities management and offers valuable insights into the future of FM. At the heart of Temasek Polytechnic’s smart campus is a suite of solutions that digitise campus operations, including facility booking, automating campus repair and maintenance work orders, and crowd management and temperature control measures. These systems are integrated into a common data environment, which generates data that is visualised, tracked, and monitored at a control centre on campus. This data allows campus operations teams to make informed decisions about maintaining the health of building systems, thereby maximising the return on investment in these assets and reducing operational carbon levels.Furthermore, the increasing focus on sustainability in Singapore is also evident in the fact that by 2027, all listed and large non-listed companies with revenues of at least $1 billion and total assets of at least $500 million will be required to disclose their climate-related risks and opportunities. This will act as a catalyst for energy efficiency in not just existing buildings, but also new developments.Rising temperatures and energy costs will also drive investments in proptech, particularly predictive technology. As temperatures continue to rise, cooling demands in buildings will also increase. This will prompt more investments in technologies that can predict and mitigate these demands. HVAC systems are already a major contributor to operational costs, accounting for approximately 60% of total energy expenses in many buildings. Optimising these systems is crucial in mitigating rising energy costs, and this can be achieved by implementing energy-efficient solutions such as energy recovery systems or thermal energy storage. Additionally, optimising chiller plant operations to match changing weather conditions can also help reduce energy waste and costs.At a city and precinct level, extreme weather events such as floods and urban heat pose a threat to the health and performance of critical infrastructure. In order to mitigate these risks, building owners and city planners can utilise advances in web-based geospatial IT to identify flood-prone areas or areas exposed to extreme heat. This data can then be used to inform a comprehensive operational plan that can predict and mitigate the risk of equipment failure and downtime. This can also help in optimising chiller plant operations in response to changing weather conditions.Another trend that will shape the future of FM in Singapore is the growing trend towards adaptive reuse in construction. With the rising cost of construction in the country, more developers and contractors are turning to adaptive reuse as an alternative to traditional construction. This involves repurposing existing buildings and structures instead of demolishing and building from scratch. One reason behind this trend is the increase in construction costs, with mechanical and electrical costs rising by approximately 30% since the onset of the Covid-19 pandemic. This is driven by an increase in logistics costs, labour costs, and construction materials prices. As a result, there is a growing emphasis on utilising smart design and engineering practices to reduce costs and promote sustainable building practices. This is where proptech platforms such as Podium come into play. These platforms support integrated digital delivery, connecting developers, designers, and the supply chain to optimise construction productivity and promote sustainable building practices. By consolidating data from multiple sources, stakeholders across the building cycle can make informed decisions that minimise embodied carbon levels. This can be particularly helpful in cases where building owners have to decide whether to redevelop or reuse certain parts of the building.By utilising digital platforms like Podium, building owners can access valuable data on design, civil and structural engineering plans, and construction materials and components. This data can drive deliberate goals to minimise embodied carbon levels, thereby promoting sustainability in the built environment. By integrating Podium with other operational platforms, building owners can also track building performance metrics, such as energy, waste, water, indoor air quality, and occupancy trends. This can help drive operational carbon reduction goals and assist building owners in complying with local and international regulations and sustainable financing requirements. For example, by tracking the performance of ACMV equipment, building owners can make informed decisions about replacing or retrofitting these systems, thereby maximising their efficiency and lifespan. This is made possible by sensors that can monitor and track the performance of each component in the equipment, enabling predictive maintenance and reducing downtime and efficiency.Altogether, these three key drivers will shape the future of FM in Singapore and contribute to a sustainable built environment. By adapting and leveraging technology, data analytics, and sustainable practices, the FM sector can drive sustainability, reduce costs, and ensure long-term operational success.…