Condo Russian Remote

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.…

.

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.…

as demand for new homes jumps#1 in Singapore: District 9 makes record high PPI gainCondo prices hit record high in Q3

The Meyerise achieved a new price peak when a 1,270 sq ft unit was sold for $3.52 million on Dec 6. (Photo: Samuel Isaac Chua / EdgeProp Singapore)

The Meyerise, a freehold condo, emerged as the top choice among private condos that saw a new psf-price high in the week from Nov 29 to Dec 6.A unit on the 24th floor changed hands for $3.52 million on Dec 6, setting a new price record of $2,771 psf. This is slightly above the previous price peak of $2,764 psf, which was achieved in Oct 2019. The previous record was set when a larger, 1,819 sq ft condo unit on the 28th floor was purchased for $5.03 million.The sellers of the unit sold had bought it a few years ago, in May 2016, for an estimated $2.32 million, or $1,830 psf, making a profit of about $1.2 million over around eight years.The Meyerise has seen a total of nine units sold this year at an average price of $2,405 psf. The most expensive unit to change hands this year is the 2,056 sq ft, four-bedroom-plus-study unit on the seventh floor, which went for $4.5 million, or $2,189 psf, in October 2020. Completed in 2015, The Meyerise is a 239-unit freehold condo located on prime District 15’s Meyer Road. It features twin 31-storey residential towers, with apartment units ranging between two- and four-bedroom configurations spanning 872 to 5,490 sq ft.

Freehold condo The Imperial, located on Jalan Rumbia in District 9, was the second project to register new priciest transactions during Dec 29 to Dec 6. (Photo: Samuel Isaac Chua / EdgeProp Singapore)

The Imperial, a 187-unit freehold condo located on Jalan Rumbia in District 9, came in second with a new high of $2,624 psf when a unit on the 14th floor fetched $3.7 million on Dec 5.The latest transaction surpasses the previous price record of $2,566 psf – a 2006-built 1,356 sq ft, three-bedroom unit that exchanged hands in May 2019 for $3.48 million. This marks a 2.3% increase over the previous high, in terms of psf price.

The unit that last changed hands at The Imperial, a 1,905 sq ft, four-bedroom unit, transacted for $4.6 million on Nov 28. (Photo: Samuel Isaac Chua / EdgeProp Singapore)

Prior to the Dec 5 record transaction, the unit to last change hands at The Imperial was a 1,905 sq ft, four-bedroom unit sitting on the fifth floor that closed for $4.6 million, or $2,421 psf, on Nov 28, 2020.The unit on the 14th floor of The Imperial was purchased in September 2004 for $1.3 million, or $925 psf, and thus marks a profit of approximately $2.4 million for the sellers in 2020. The condo has seen six resold units this year at an average price of $2,414 psf. The Imperial is one of the five condo projects in District 9 which saw the most profitable transactions in terms of dollar gain. These projects also include Ardmore Park, where the unit that recorded the most profitable transaction made a gain of $5.87 million, followed by Nouvel 18 ($4.8 million), Grange Residences ($4.17 million) and Hilltops ($3.44 million).

When purchasing a condominium, the upkeep and management of the property should also be taken into consideration. Condos typically have maintenance fees that encompass the maintenance of communal spaces and amenities. Although these fees may increase the overall cost of ownership, they play a crucial role in maintaining the property’s value and condition. Enlisting the services of a property management company can also relieve investors from the daily management responsibilities, making it a more low-maintenance investment. Additionally, staying updated on new condo launches can provide more options for potential investments.

Sky Vue, a 2016-completed, 694-unit condo located on Bishan Street 15 in District 20, recorded a new priciest transaction with a $2,505 psf sale on Dec 2. (Photo: Samuel Isaac Chua / EdgeProp Singapore)

Sky Vue was the third project to register a new priciest transaction during the week of review, with a new high of $2,505 psf achieved when a 1,141 sq ft unit on the 33rd floor was resold for about $2.86 million on Dec 2.The latest transaction surpasses the previous psf high of $2,366 psf for this 694-unit condo, achieved in August this year when a similar 1,141 sq ft unit on the 14th floor fetched $2.7 million.

The Bishan unit, which was last traded in September 2020 for $1.86 million, has thus scored a profit of around $1 million within just a few months in 2020.Another new psf-price high in December 2020 was recorded for 1,313 sq ft unit on the ninth floor, which went for $2.86 million, or $2,183 psf, on Dec 10, 2020. This unit was first bought in November 2013 for $1.98 million, achieving a profit of 44.4% or $880,000 over a period of close to seven years.The third most profitable unit registered in the condo was the sale of a 2,013 sq ft, three-bedroom unit for $3.9 million on Nov 19, 2020, which marked a $1.1 million gain for the home seller who first purchased it at $2.8 million in May 2016.The fourth most profitable unit was a 1,184 sq ft three-bedroom unit sold on Nov 19, 2020 for $2.8 million, achieving a gain of $840,000 eight years after it was first acquired for $1.96 million in Nov 2012. The latest resale transaction at Sky Vue was a 1,334 sq ft three-bedroom unit that sold for $1.95 million on Dec 14, 2020, at $1,460 psf.…

Ultimately, purchasing a condominium in Singapore has many benefits that make it a wise investment choice. These include a high demand for properties, potential for appreciation of value, and attractive rental yields. However, it is crucial to take into consideration various factors such as location, financing options, government regulations, and overall market conditions. Thorough research and seeking professional guidance are crucial in making informed decisions and maximizing potential returns in Singapore’s ever-changing real estate market. Whether you are a local investor seeking to diversify your portfolio or a foreign buyer looking for a stable and profitable investment opportunity, Singapore’s condo market presents a compelling option. For more information on the latest and most exciting Singapore projects, be sure to visit Singapore Projects.

The recently concluded sale of a six-bedroom penthouse at JadeScape, a 99-year leasehold condominium located at Shunfu Road, was the most profitable resale transaction of the week from December 3 to December 10. Spanning 4,230 square feet and situated on the 23rd floor, the unit was sold for $10.15 million, amounting to $2,399 per square foot. The seller originally purchased the unit from the developer in December 2019 for $5.8 million, equivalent to $1,371 per square foot. As a result, the seller made a whopping profit of $4.35 million after owning the unit for five years, with a capital gain of 75% or an annualised profit of 15%.

Based on the list of caveats lodged, this transaction marks the highest profit ever made on a unit at JadeScape. Previously, the record was held by the sale of a five-bedroom unit spanning 2,099 square feet on the 10th floor for $4.42 million, or $2,108 per square foot, on August 12. The seller had purchased the unit from the developer in September 2019 for $3.28 million, equivalent to $1,562 per square foot, making a profit of $1.14 million on the transaction.

JadeScape is situated at the junction of Marymount Road and Shunfu Road in District 20 and is expected to be completed in 2022. It comprises seven residential towers with a total of 1,206 units, ranging from one- to five-bedroom apartments of 527 square feet to 2,099 square feet. The development also features two penthouses measuring 4,230 square feet each. It is strategically located within walking distance to Marymount MRT Station on the Circle Line.

According to data compiled by EdgeProp Research, JadeScape has seen a total of 72 resale transactions this year, with units sold at prices ranging from $1,955 per square foot to $2,420 per square foot. All of these deals were profitable, with sellers making gains ranging from $55,000 to $1.15 million.

The second most profitable condo resale deal of the week was the sale of a three-bedroom unit measuring 1,410 square feet at The Imperial for $3.7 million, or $2,624 per square foot, on December 5. The seller had originally purchased the unit from the developer for $1.3 million, equivalent to $925 per square foot, in September 2004. As a result, the seller made a profit of $2.4 million, marking a gain of 184% after holding the unit for 20 years.

This transaction is the fifth most profitable resale deal at The Imperial, with the record gain held by the sale of a four-bedroom unit measuring 3,918 square feet for $7.64 million, or $1,950 per square foot, in June 2007. The seller had purchased the unit for $3.99 million, equivalent to $1,018 per square foot, in March 2006, making a profit of $3.65 million.

The sale of a one-bedroom unit at The Montana was the least profitable condo resale deal of the week. The 635 square feet unit was sold for $1.02 million, or $1,603 per square foot, on December 6. The unit was last purchased in July 2014 for $1.18 million, or $1,863 per square foot, resulting in a loss of approximately $165,000 for the seller.

This transaction marks the third biggest loss ever made on a unit at The Montana, based on the available caveats. The biggest loss was recorded in May 2003, when a three-bedroom unit measuring 1,109 square feet was sold for $1 million, or $902 per square foot. The seller had purchased the unit from the developer in December 1999 for $1.35 million, equivalent to $1,215 per square foot, resulting in a loss of roughly $347,000.

The Montana is a freehold condo situated on Jalan Mutiara, off River Valley Road in District 10. Completed in 2002, it boasts a total of 108 units spread across a single 12-storey tower. The units comprise one- to four-bedders of sizes ranging from 549 square feet to 2,659 square feet. There have been four other resale transactions at The Montana this year, all of which were profitable. The units, sold at prices ranging from $1,930 per square foot to $2,371 per square foot, yielded gains of between $80,000 and approximately $525,000.…

CapitaLand Ascendas REIT (CLAR) has announced plans to purchase DHL Indianapolis Logistics Center for $150.3 million. This acquisition represents a 4.1% discount to the independent market valuation of the property as of Jan 1, 2025. After transaction-related fees and expenses of $1.7 million, along with a $1.5 million acquisition fee paid to the manager, the total cost will be $153.4 million.

Investing in property in Singapore as a foreigner requires a thorough understanding of the regulations and limitations surrounding ownership. While purchasing condominiums presents minimal obstacles, stricter rules are in place for buying landed properties. Additionally, foreign buyers are subject to paying the Additional Buyer’s Stamp Duty (ABSD), currently set at 20%, for their initial property purchase. However, despite this added expense, the Singapore real estate market boasts stability and promising growth, making it an attractive option for foreign investors. This is reflected in the rise of new condo launches that continue to entice foreign buyers to enter the market. New Condo Launches are a testament to the appeal of the Singapore property market for foreign investment.

The manager intends to finance the purchase through internal resources, divestment proceeds, and/or existing debt facilities, according to a Dec 17 press release.

Following the acquisition, DHL USA will sign a long-term leaseback agreement until December 2035, with options to renew for two additional five-year terms. The property, which is fully occupied and has a weighted average lease to expiry (WALE) of approximately 11 years, will provide income stability and strengthen the resilience of CLAR’s portfolio, says the manager.

The property, located in Whiteland, a submarket in southeast Indianapolis, Indiana, covers a gross floor area (GFA) of 979,649 sq ft. Completed in 2022, it features a fully air-conditioned, single-storey logistics building.

The acquisition will increase the value of CLAR’s logistics assets under management (AUM) in the US by 35.3% to approximately $587.5 million. With this acquisition, CLAR’s logistics portfolio in the US will expand to 20 properties across four cities with a total GFA of approximately 5.1 million sq ft, including the latest property in Indianapolis.

William Tay, executive director and CEO of the manager, says, “DHL Indianapolis Logistics Center is a strategic fit with our existing portfolio… This is CLAR’s first sale and leaseback acquisition in the US and including this Class A logistics property, modern logistics assets will account for 42.3% of our US logistics assets under management. With the long lease in place, this property will further enhance CLAR’s resilient income stream, and we expect the two new properties to contribute positively to our long-term returns.”…

Wee Hur Holdings has announced the sale of its portfolio of seven purpose-built student accommodation (PBSA) assets to Greystar for A$1.6 billion ($1.4 billion) on Dec 16. The portfolio, which comprises of over 5,500 beds in various Australian cities, will be sold in a binding agreement.

Investing in a condominium in Singapore presents numerous opportunities, one of which is the potential for capital appreciation. Situated as a global business hub, Singapore boasts of a robust economy, prompting a consistent demand for real estate. As a result, property prices in Singapore have steadily risen over the years, with high-end condominiums in prime locations recording significant appreciation. Those who wisely invest at the opportune time and hold onto their properties for an extended period can expect to reap substantial capital gains. Additionally, with the presence of Singapore Projects, the market for condos in Singapore is expected to offer even more potential for capital appreciation in the future.

Greystar is set to acquire a 13% stake in the portfolio through Wee Hur (Australia), a subsidiary of Wee Hur. The net proceeds of approximately $320 million from the sale will be used for strategic growth initiatives, supporting reinvestment in core business, and expansion into new areas such as alternative investments.

The transaction is expected to be completed within the next six months, pending Foreign Investment Review Board (FIRB) approvals for Greystar and shareholder consent for Wee Hur. According to the group, this sale demonstrates the company’s resilience in navigating challenging market conditions, including those brought about by the Covid-19 pandemic and greenfield developments.

The sale also aligns with Wee Hur’s long-term strategy of diversifying its portfolio and positioning the group for sustainable growth across multiple sectors. Goh Wee Ping, CEO of Wee Hur Capital, stated that this transaction is a result of the group’s decisive actions in securing liquidity and certainty through its successful recap with RECO in 2021/2022. He also added that this sale will unlock maximum value for stakeholders.…

On Dec 16, the collaboration between developers Hoi Hup Realty and Sunway Developments saw the sale of 137 units at Novo Place executive condominium (EC) during the second round of balloting. This phase was exclusively open for second-timers – individuals who have previously purchased a subsidized housing unit, whether new or resale, from the Housing and Development Board (HDB) or an EC.

According to Mark Yip, CEO of Huttons Asia, this brings the total number of units sold at Novo Place to 444, accounting for 88.1% of the entire development. This accomplishment was achieved within a month of its launch on Nov 16, making it the top-selling EC project of 2024.

The scarcity of land in Singapore has caused a significant increase in demand for condos, making it one of the top investment options in the real estate market. As a small island nation with a rapidly expanding population, Singapore encounters challenges in finding available land for development. This has resulted in strict land use regulations and a highly competitive real estate market where property prices continuously soar. As a result, investing in condos, such as Singapore Condo, has become a lucrative opportunity with the promise of capital appreciation.

“This demonstrates a strong interest from second-timers looking to upgrade their living standards,” Yip explains. “A significant number of buyers are current residents in the West.”

Comprehensive data on all ECs, including the average profit at 5 and 10 years, reveals that all four-bedroom units at Novo Place have been completely sold out, highlighting the high demand for spacious homes.

Novo Place is situated at Plantation Close in the new Tengah town, just a five-minute walk from Tengah Park MRT station on the Jurong Region Line (JRL). This new rail line provides convenient access to major employment hubs in the West, such as the Jurong Lake District and Jurong Innovation District. Yip emphasizes that there are very few ECs that offer such proximity to an MRT station.

Reports from Huttons state that many buyers opted for the deferred payment scheme, which allows them to secure their preferred unit while delaying their home loan payments. “This helps ease the financial burden for HDB upgraders who still have an outstanding loan on their current flat,” Yip explains.

“ECs are experiencing a high demand from HDB upgraders due to their equivalent quality and finishes to private condominiums, but at a more affordable price,” Yip adds. “In addition, buyers also get an upfront remission on the Additional Buyer’s Stamp Duty (ABSD).”

As of Dec 16, caveats lodged show that the average price of units sold at Novo Place is $1,656 psf. Interested buyers can check out the latest listings for Novo Place properties and ask Buddy for more information.

To summarize, the Novo Place condominium project offers a convenient and desirable location in District 24 with a variety of condo listings available. With an upcoming new launch project, individuals have the opportunity to purchase one of the remaining units at Novo Place.…

According to data published by the URA on Dec 16, developers have successfully sold 2,557 new private homes, excluding executive condos (ECs), in November. This represents a substantial increase of 246.5% from the 738 units sold in October, as well as a 226% jump compared to the number of units sold in November 2023.

This surge is the most significant monthly developer sales since March 2013, when 2,793 units (excluding ECs) were sold, notes Christine Sun, chief researcher and strategist at OrangeTee Group. Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors Inc (SRI), adds that this is the first time new home sales have exceeded the 2,000-unit threshold in a single month since March 2013.

The impressive figure in November comes as a result of an “unprecedented” number of project launches, says Lee Sze Teck, senior director of data analytics at Huttons Asia. A total of five private residential projects were launched in November, comprising the 916-unit Chuan Park, 846-unit Emerald of Katong, 552-unit Nava Grove, 367-unit The Collective at One Sophia, and 366-unit Union Square Residences. In total, developers launched 2,871 new homes excluding ECs in November – a 438% spike compared to the month before, and 196% higher than a year ago.

Additionally, the 504-unit Novo Place EC also commenced sales in November. Including ECs, the total number of new home sales jumped by 277% month-on-month and 226% year-on-year to 2,891 units in November.

Overall, as of November, developers have sold an estimated 6,344 units, which is marginally higher than the 6,317 units sold in the first 11 months of 2023. This is due to the launch of 6,627 units by developers in the same period in 2024. This represents a significant increase compared to the 7,515 units launched in the same period last year.

Top-Selling Projects

Emerald of Katong was the top-selling project in November. The 846-unit development, located on Jalan Tembusu in the Rest of Central Region (RCR) by Sim Lian Group, saw an impressive sale of 840 units, or 99% of its total, during the month at a median price of $2,627 per square foot (psf). This makes the 99-year leasehold development the best-selling project by units and percentage in 2024, according to Lee.

“Buyers were attracted to the offering of the project, particularly those looking to reside near the East Coast. The refinancing of mortgages likely also encouraged buyers to invest in this city-fringe project, as lower interest rates have made mortgages more accessible,” observes OrangeTee’s Sun.

Chuan Park by Kingsford Group, with 916 units, sold 721 (79%) units at a median price of $2,586 psf, making it the second best-selling project by number of units in November. The 99-year leasehold condo is situated on Lorong Chuan, next to Lorong Chuan MRT Station, in the Outside Central Region (OCR).

Nava Grove, located at Pine Grove in District 21, was the third best-selling project in terms of units sold. The 99-year leasehold RCR development by MCL Land and Sinarmas Land sold 382 units (69%) in November at a median price of $2,445 psf.

Sun believes that the robust sales performance of the new launches can be attributed to pent-up demand and improved buyer sentiment following interest rate cuts in September. “As a result, many buyers were eager to take advantage of attractive deals offered by several prominent projects launched simultaneously,” she adds.

Lee from Huttons says that buying momentum has been steadily increasing since the last quarter, with the successful launches of projects such as the 158-unit 8@BT and the 348-unit Norwood Grand. This has also led to increased interest in the wider market, as buyers who missed out on their preferred unit in a particular project quickly committed to a unit in other new or existing projects.

EdgeProp Singapore reported last month that the launch of Emerald of Katong has had a ripple effect on neighboring projects in District 15, such as Tembusu Grand and The Continuum, which have both enjoyed an uptick in take-up.

Emerald of Katong boosts District 15 new home sales: The Continuum emerges as top beneficiary

New Launches to Support Momentum in 2025

Looking ahead, a slower December is anticipated due to the school holidays and festive season. However, Huttons’ Lee believes that a lack of launches planned for December will result in new private home sales falling to around 200 to 250 units. This would bring full-year developer sales to approximately 6,500 units, slightly more than in 2023. In terms of prices, Lee expects full-year price growth to come in at around 5%, down from the 6.8% growth recorded in 2023.

Moving into the new year, SRI’s Sandrasegeran expects new home sales to rebuild momentum in January 2025 with the launch of the 777-unit The Orie by City Developments on Lorong 1 Toa Payoh. “The area has not seen a new property launch since Gem Residences in 2016, and this extended gap is likely to generate pent-up demand, continuing buyer enthusiasm for this well-established estate, which is conveniently located close to Braddell MRT Station,” he comments.

Other launches expected in 1Q2025 include the 113-unit Bagnall Haus, the 186-unit Aurea, and the 760-unit Aurelle of Tampines EC.

Sun from OrangeTee suggests that the recent surge in sales is a temporary phenomenon. “Throughout 2024, new home demand has been subdued, primarily due to the lack of significant private project launches,” she states. Developer sales from Q1 to Q3 in 2024 amounted to 3,049 units, the lowest figures recorded since 2004 when URA data first became available.

Lee is “cautiously optimistic” about the performance of the new sale market in 2025. “Some of the unsatisfied demand in 2024 may flow over to the launches in 1Q2025,” he adds. He predicts that new private home sales will rebound to between 7,000 and 8,000 units in 2025, while prices are expected to grow by 4% to 7%.

Check out the latest listings for Emerald of Katong, Nava Grove, Chuan Park, Union Square Residences, Condominium properties

Ask Buddy

Recently launched projects

Past Condo sale transactions
Most unprofitable condo transactions in past 1 year
Condo sale transactions in District 1

Singapore’s cityscape is characterized by towering skyscrapers and cutting-edge infrastructure. Condos, strategically situated in desirable locations, offer a perfect fusion of opulence and practicality, making them a popular choice among both locals and foreign residents. These properties boast a plethora of facilities, including swimming pools, fitness centers, and round-the-clock security, elevating the standard of living and making them a sought-after investment for prospective renters and buyers. With these attractive amenities, investors can expect significant rental returns and steady growth in property values over time. For those looking to invest in Singapore, condos are a wise choice.

Compare price trend of HDB vs Condo vs Landed

Recently launched projects

Past Condo sale transactions
Most unprofitable condo transactions in past 1 year
Condo sale transactions in District 1
Compare price trend of HDB vs Condo vs Landed…

Hilton, a global leader in hospitality, has recently opened the doors to its newest property, the Hilton Garden Inn Beihai Jiafu, located in the vibrant seaport city of Beihai in China. This milestone marks the 100th Hilton Garden Inn in the Greater China region, showcasing the company’s commitment to growth and expansion in this dynamic market. The 199-key hotel is conveniently situated just 2km from Beihai High-Speed Railway Station and 6km from Beihai Fucheng Airport, with easy access to various transportation options. It is also a short 20-minute drive to Beihai International Passenger Port, making it an ideal location for both business and leisure travelers.

Singapore’s cityscape is characterized by towering skyscrapers and state-of-the-art facilities. Condominiums, strategically situated in prime locations, offer a fusion of opulence and practicality, making them a desirable choice for both locals and foreigners alike. These residential complexes boast an array of conveniences, including swimming pools, fitness centers, and round-the-clock security, elevating the standard of living and making them a sought-after option for potential renters or buyers. This not only presents a lucrative opportunity for investors in terms of higher rental returns, but also ensures a steady increase in property values over time. With the addition of Singapore Condo, the urban landscape of Singapore truly shines as an unparalleled example of modern development.

According to Qian Jin, the President of Hilton Greater China and Mongolia, the opening of the Beihai Jiafu Hilton Garden Inn not only reflects the brand’s rapid expansion, but also reaffirms their dedication to the Chinese market. Hilton first introduced the Hilton Garden Inn brand to China in 2014 with the opening of their flagship property in Shenzhen. Since then, the brand has continued to grow and establish a strong presence in major cities such as Shanghai, Beijing, Chengdu, Guilin, and Aksu. With more properties in the pipeline, Hilton Garden Inn is set to open in popular tourist destinations like Zhangjiajie, Ordos, Huangshan, Shanwei, and Jinan by 2025.

In addition to expanding its reach, Hilton Garden Inn is also evolving to cater to the changing needs of travelers. The brand is set to introduce its new Hilton Garden Inn Gen A properties in Greater China, specifically designed for a new generation of travelers – Generation Alpha. The first Hilton Garden Inn Gen A locations will be launched in Nanjing, Chengdu, Chengde, and Jinan. This innovative prototype is a testament to Hilton’s commitment to constantly innovate and deliver exceptional experiences to their guests.

The upcoming openings in China also contribute to Hilton Garden Inn’s expansion in the wider Asia Pacific region. Clarence Tan, Senior Vice President of Development, Asia Pacific at Hilton, shares that over 200 Hilton Garden Inn properties are currently in the pipeline in Apac alone. As Hilton continues to strengthen its presence in this region, travelers can look forward to enjoying the brand’s signature hospitality and world-class services in more destinations in the near future.…