Condo Format Dynamics

Investing in condos in Singapore also requires careful consideration of the government’s property cooling measures. In an effort to maintain a stable real estate market and discourage speculative buying, the Singaporean government has implemented various measures over the years. These include the imposition of Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may affect the immediate profitability of condo investments, they ultimately contribute to the long-term stability of the market, making it a secure environment for condo investment.

A shophouse situated at 76 Pagoda Street in Chinatown has been put up for sale through an expression of interest (EOI) exercise with a guide price of $16 million. The three-storey conservation property stands on a 1,372 sq ft plot and has a gross floor area (GFA) of 3,500 sq ft, including an attic level. Based on the GFA, the guide price works out to approximately $4,571 psf.

According to Richard Tan, founder of PropNex Shophouse Elites and sole marketing agent for the property, the ground and second floors are currently leased to a restaurant operator, while the third floor is used as office space.

Commercial shophouses, especially those in the Chinatown area, are highly sought after by owner-occupiers, high-net-worth individuals, and family offices as long-term investment assets, notes Tan. As it is a commercial property, foreigners and companies are able to acquire it without paying additional buyer’s stamp duty or seller’s stamp duty.

The most recent transaction of a shophouse on Pagoda Street was the sale of 31 Pagoda Street in March for $19 million ($5,588 psf), which has an estimated GFA of 3,400 sq ft. The expression of interest for 76 Pagoda Street will close on Jan 10, 2025.

Meanwhile, another property up for sale is a two-storey HDB shophouse located at 210 New Upper Changi Road, with a guide price of $13.8 million. The 103-year leasehold property has a GFA of 4,607 sq ft, translating to a price of $2,995 psf based on GFA.

Kris Ng, senior associate marketing director at PropNex who is handling the sale, highlights that one of the key attributes of the property is its stable and long-term tenants. For the past 20 years, the shophouse has been leased to healthcare retailer Guardian and United Overseas Bank (UOB).

Situated within the Bedok Town Centre, the shophouse is in close proximity to the East-West Line’s Bedok MRT Station, Bedok Mall, and Heartbeat@Bedok. Similar to the Pagoda Street property, foreigners and companies can acquire this commercial property without having to pay for additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD).

The EOI exercise for 210 New Upper Changi Road will end at noon on Jan 10, 2025.…

at downtown Melbourne

Sydney’s One O’Connell Street has welcomed its second Australian location of The Great Room, a premium co-working space provider, in collaboration with LendLease. The new space, spanning 25,360 sq ft across levels 14 and 15 of the office building, is a partnership between the two companies for long-term investment and value creation. Jaelle Ang, CEO of The Great Room, states that this collaboration ensures a unique, high-quality product and sustainable profitability at One O’Connell Street, which was completed in 1991 and is located within the Sydney CBD.

The Great Room, founded in Singapore, opened its first Australian location earlier this year at level 29 of 85 Castlereagh Street, another office building in the Sydney CBD. Currently, The Great Room has 12 locations across Singapore, Bangkok, Hong Kong, and Sydney. In Singapore, the operator has recently expanded its presence with the opening of Csuites Powered by The Great Room in Paya Lebar Quarter, its first outlet outside the CBD. The space, equipped with private manager cabins, soundproof meeting rooms, and ergonomic workstations tailored for comfort, opened in October.

In addition to its premium facilities, The Great Room also offers monthly networking sessions and panel discussions for its members. Since its acquisition by the New York-based co-working business Industrious in 2022, members of The Great Room have access to 160 destinations operated by both brands in Asia Pacific, Europe, North America, and the UK.

When considering profitable real estate investments in Singapore, selecting the perfect location is crucial. In this thriving city-state, condos located in central areas or near important amenities like schools, shopping centers, and public transportation hubs have consistently appreciated in value. Prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD) are well-known for their consistently soaring property prices. Additionally, the appeal of being in close proximity to reputable schools and educational institutions further enhances the desirability of condos in these highly sought-after areas, making them an excellent choice for families seeking to maximize their investment potential. Therefore, selecting a well-situated condo is of the utmost importance to ensure successful investments. Condos in these areas are highly sought after and can make for a wise investment choice.…

When purchasing a Singapore condo, it is crucial to factor in the maintenance and management of the property. Typically, condos have maintenance fees that cover the upkeep of shared areas and amenities. Although these fees may increase the overall cost of ownership, they play a vital role in keeping the property in good condition and maintaining its value. By hiring a property management company, investors can have a more hands-off approach to managing their condos, making it a more passive investment.

To ensure a healthy supply of private housing units to meet the increasing demand and maintain market stability, the government has announced that it will offer 8,505 units in the upcoming 1H2025 GLS (Government Land Sales) programme for private residential development. This will be through a combination of Confirmed List and Reserved List sites.

The Confirmed List will include ten plots, comprising nine residential sites and one residential cum commercial site. These sites are expected to yield an estimated 5,030 residential units, including 980 executive condo (EC) units. This number is in line with the Confirmed List of 2H2024, but almost 60% higher than the average supply in each GLS programme from 2021 to 2023.

On the other hand, the Reserved List will comprise four private residential sites, one commercial site, three White sites, and one hotel site. These sites have the potential to yield an additional 3,475 private residential units and a gross floor area (GFA) of 199,900 sqm for commercial space.

This increase in supply of 8,505 units in 1H2025 is on par with the supply of 8,140 units in 2H2024. This is in line with the government’s progressive ramp-up of private housing supply in the GLS programmes over the last three years. This has contributed to the stabilisation of the market, as seen in the moderation of property price growth.

According to the URA private residential property price index, price growth has slowed to 6.8% in 2023 from 10.6% in 2021 and 8.6% in 2022. It is expected that private residential prices will see more modest gains in 2024, with an estimated cumulative increase of 1.6% over the first three quarters of the year.

To soothe the competition among developers for EC sites and to moderate EC land costs and prices, the government will ramp up the supply of EC sites in the Confirmed List, with three plots potentially yielding 980 units. This is a change from previous GLS programmes, where only one EC site was offered in each half-yearly land sales programme since 2019.

The last time three EC plots were launched for sale in a single GLS programme was in 2H2014 when EC sites in Sembawang Road/Canberra Link, Anchorvale Crescent, and Woodlands Avenue 12 were launched for tender. In 1H2014, four EC sites (two in Yishun, one each in Sembawang and Choa Chu Kang) were launched for sale via the GLS.

The increase in the EC land supply in 1H2025 could help soothe competition among developers and moderate EC land costs and prices, according to PropNex CEO Ismail Gafoor.

Seven new plots will be introduced in the 1H2025 GLS programme, including a plot near Jurong Lake Gardens in the Jurong Lake District, a plot in the new housing precinct in Bukit Timah Turf City, and a plot on the former Keppel Golf Course site. Another plot will be launched for sale at Hougang Central, which can yield a mixed-use development with 835 residential units and 400,000 sq ft of commercial space. It is expected to be integrated with the Hougang MRT Station on the Northeast Line.

The other confirmed plots include a site in Upper Thomson Road (Parcel A), which saw no bids when its tender closed in June 2024. The plot was previously intended to offer a mix of residential units and long-stay serviced apartments. The URA has now provided more flexibility by allowing serviced apartment/long-stay serviced apartment use, subject to approval from technical agencies.

In addition to sites in new housing precincts, the majority of the sites are near MRT stations, which could be attractive to developers and homebuyers. The most attractive sites include the mixed-use site in Hougang Central (835 units) linked to the Hougang MRT station, the Telok Blangah Road plot (740 units) in a housing precinct within walking distance to the MRT station, and the Lakeside Drive site (575 units) adjacent to the Lakeside MRT station, Jurong Lake Gardens, and Jurong East commercial hub.

Last year was unprecedented for GLS tenders, with three plots – Marina Gardens Crescent, the Jurong Lake District master developer site, and plots in Media Circle (for long-stay serviced apartment use) – going unfulfilled. This was due to the low bids offered, and these sites are now included in the 1H2025 Reserve List.

The government is continuously reviewing and adjusting the supply of private residential units to ensure market stability and meeting housing demand. The GLS programme is an essential tool for this, and the new sites in the 1H2025 programme aim to cater to the residential and commercial needs of Singaporeans.…

London-listed real estate corporation Berkeley Group’s division, St William, is currently promoting their latest residential project, Regent’s View, in London. The 555-unit development, located in Zone 2 in the borough of Tower Hamlets, is a result of a unique adaptive reuse scheme, with the site formerly being a Victorian-era gasholder. The project has already been recognized globally, winning the “Best Future Residential Project” award at the World Architecture Festival (WAF) in 2024, held in Singapore.

St William was established in 2014 as a joint venture between Berkeley Group and London’s National Grid, with the aim of redeveloping industrial sites owned by the National Grid into new residential and community spaces. In March 2022, Berkeley Group acquired National Grid’s stake in St William for GBP412.5 million ($705 million), giving them full ownership of 24 brownfield sites across London for their long-term landbank. Currently, St William has around six ongoing developments across the city, with Regent’s View being one of them.

The 4.5-acre site in East London, situated along the banks of Regent’s Canal, was formerly known as the Bethnal Green Gasholders, a prominent landmark in the area since the 1850s. While the gasholders were decommissioned in 2012, the iconic frames have still been an integral part of the borough’s cityscape for over 200 years. The site comprises of several Victorian-era gasholders that were built to provide gas to the district’s homes. The project plans to transform the decommissioned site into a mixed-use project, encompassing a range of residential buildings, commercial and community spaces, as well as a public-access canal frontage.

Graham Stirk, Senior Director at RSHP, the architectural partner on the project, states, “Our design for Regent’s View celebrates the historical industrial heritage of the site. The preservation of the iconic gasholder frames allows for a unique urban and architectural environment that deviates from the norm.” The gasholder frames, which are a prominent feature of the cityscape in the Tower Hamlets borough, will be a defining element of the new development.

The project will feature five contemporary residential buildings, ranging from six to thirteen stories, surrounding a landscaped park. Two of the towers will be framed by restored gasholder structures. In total, Regent’s View will house 555 private and affordable homes, along with 45,000 sq ft of commercial and community spaces on the ground floor. The development also includes the restoration of 100m of public-access canal frontage, which will be the first time in over a century that this stretch of Regent’s Canal will be accessible to the public. The area will be activated with new food and beverage offerings.

However, the development of Regent’s View did face some controversy when it was first announced in 2019. Initially, the local council and St William’s plans to redevelop the site were met with opposition, with over 8,000 people signing a petition to preserve the gasholder frames. Despite this, the Tower Hamlets council voted seven-to-one in favor of the project. It took St William almost five years to conceptualize and incorporate the gasholder frames into the design, as well as gain local support for the project. Dean Summers, Divisional Managing Director at St William, shares that much of this time was spent engaging with the local community to find ways to preserve the gasholder frames, meet their affordable housing targets, and rejuvenate the canal front through placemaking activities.

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One of the advantages of investing in a condominium is the opportunity to utilize the property’s value for future investments. A common approach among investors is to use their condos as collateral in order to secure additional financing for new investments, allowing for the expansion of their real estate portfolio. While this can potentially increase returns, it is important to have a solid financial strategy in place and to carefully consider the potential impact of market fluctuations. With the addition of New Condo Launches, this can provide even more opportunities for investors to grow their portfolio.

Summers adds, “Affordable housing is a key priority for many local councils in London, and we were happy to work closely with them on the adaptive reuse of this industrial site. This strong collaboration enabled us to allocate 35% of the units for affordable housing.”

The project design and the incorporation of the gasholder frames were carefully scrutinized, with an emphasis on ensuring the site’s permeability to promote public access wherever possible. The development will reintroduce public access to a previously inaccessible stretch of the canal, with the addition of food and beverage options.

Tracy Meller, Senior Director at RSHP, explains, “Our priority was to ensure that the development of Regent’s View contributes to the overall placemaking and rejuvenation of the neighborhood. This is why we opted for a landscape buffer around the site rather than the high walls of a traditional gated community.” The design team also used the circular forms of the gasholder frames to create a gentler contrast to the site’s edges, allowing for easy permeability through the site and towards the canal.

Additionally, the ground floors of all five buildings will be reserved for non-residential use. The two largest gasholder buildings along the waterfront will feature public-facing commercial amenities, such as cafes, bars, and restaurants. The ground floors of the other three buildings will house amenities exclusively for residents, such as a concierge and facilities.

Regent’s View is not the only industrial brownfield site featuring heritage gasholder frames that St William is developing. As part of their landbank acquired from their previous partnership with National Grid, they are also developing a 23-acre plot in the Newham borough, which will be transformed into a 2,000-unit mixed-use project. The design plans for the site, known as Bromley-By-Bow Gasworks, are also being developed by RSHP. The site comprises of seven Victorian-era gasholder frames, making it the largest collection of surviving frames of this era in the world. The development of Bromley-By-Bow Gasworks is expected to commence next year.

Last year, St William launched the sale of The Wright Building, a six-storey block at Regent’s View offering a mix of one- to three-bedroom units, with prices ranging from GBP675,000 ($1.15 million) to GBP1.63 million. This block is more than 70% sold and is expected to be completed next year. In September, St William launched the sale of The Westwood Building, another six-storey block featuring one- and three-bedroom units, with prices starting from GBP585,000 for a one-bedroom unit to GBP1.68 million for a three-bedroom unit. Almost 90% of the units in The Westwood Building are one-bedroom units, making it likely to attract interest from international investors.

According to Dean Summers, over 50% of international buyers are based in Asia, adding, “We’ve seen a strong interest from international buyers, particularly those looking for a base for their children attending university or as a professional residence close to London’s financial hubs.” He also mentions that the next sales phase at Regent’s View will see the units in the 13-storey block, located within the largest gasholder frame, go on sale in the second half of 2025. The third sales phase will feature some of the largest-sized units in the development, such as the three-bedroom units, which are expected to attract significant interest as most of the food and beverage offerings will be located on the ground floor, with most units offering views of either the waterfront or the landscaped courtyard.

The significant buyer interest at Regent’s View so far also highlights the growing popularity of investing in new developments in London’s Zone 2 neighborhoods, according to Summers. He adds, “As property prices continue to rise in central London, savvy investors are turning to properties in Zone 2 for more attractive rental premiums.”…

in our dedicated project launch microsite

Get your hands on this prime District 9 condo unit at a great deal – Offered for auction by Knight Frank Singapore, a three-bedroom unit at Gambier Court along Kim Yam Road in River Valley awaits a new owner. This 1,485 sq ft unit is available with a guide price of $2.6 million, which translates to $1,755 per square foot.Based on recorded transactions, the current owner had acquired the unit in October 2018 for $1.8 million, or $1,212 per square foot. This purposeful owner resale is the second time the unit is being put up for auction, after previously being listed for sale through Knight Frank Singapore on Nov 26 with a higher guide price of $2.64 million, or $1,778 per square foot, but without any successful offers.AdvertisementAdvertisementThe unit, boasting three bedrooms and a study area, is located on the eighth floor and enjoys a prime positioning. At its original construction, the unit was converted from four bedrooms to the current three-bedroom configuration, giving the future owner an increased sense of space. The balcony of this unit faces northeast, providing an unobstructed view of the Singapore River and the sea.Tricia Tan, director of auction and sales at Knight Frank, has mentioned that based on their conversations with the owner, they are moving closer to their children’s school. The unit will be offered with empty possession to the buyer.Gambier Court is a 99-year leasehold condo that was built back in 1999, located at 60 Kim Yam Road. This boutique condo features a low-density of just 21 units, including 18 apartments housed in a 10-storey block, and three strata-landed units, located in conserved shophouses. The apartment range from two- to four-bedroom layouts, varying between sizes of 936 sq ft and 2,530 sq ft. The strata-landed units, on the other hand, span across two storeys and an attic, with sizes between 2,562 sq ft and 2,885 sq ft.Conveniently situated in close proximity to Fort Canning MRT Station on the Downtown Line, the condo also offers a wide variety of F&B and retail options, including New Bahru at Kim Yam Road (previously known as Nan Chiau High School), UE Square, Robertson Quay and Clarke Quay.Read also: Journey through the world of feng shui with JadeScape’s Tiny TanAdvertisementAdvertisementBased on the latest Realis caveats, the most recent transaction at this condo was carried out in December 2022, with a sale price of $2.5 million for a 1,485 sq ft four-bedroom unit situated on the seventh floor. This translates to a price of $1,683 per square foot. The current seller had purchased the unit for $1.9 million, or $1,279 per square foot, in August 2016, earning a net profit of $600,000. To find out more about Gambier Court, check out EdgeProp’s project launch microsite dedicated to this property.

Understanding the regulations and restrictions surrounding property ownership in Singapore is crucial for foreign investors. When it comes to purchasing real estate in the country, there are certain rules that apply. For instance, foreigners are typically allowed to buy condos with little restriction, but landed properties have more stringent ownership regulations. Additionally, foreign buyers are subject to the Additional Buyer’s Stamp Duty (ABSD) of 20% for their initial property purchase. Despite these extra expenses, the stability and potential for growth in the Singapore real estate market continue to entice foreign investment. This makes Singapore Condos a popular choice for foreign investors.…

In the recent week of Nov 19 to Nov 22, the freehold condo Gallop Gables emerged as the top-performing development in terms of new psf-price highs. The latest transaction on Nov 20 saw a four-bedroom unit on the second floor sold for $6.14 million, at a new record of $2,299 psf. This means the seller, who had bought the unit in July 2017 for $4.5 million at a psf price of $1,686, gained a profit of $1.64 million.

The previous record for Gallop Gables was set on Feb 19, with a two-bedroom unit on the third floor selling for $2.45 million at $2,108 psf. This marks a significant jump from the previous high of $1,163 sq ft, set on Feb 19. In this case, the seller bought the unit in January 2021 for $2.07 million, making a net profit of $380,000.

Located in District 10 on Farrer Road, the completed development of Gallop Gables comprises 102 units across four storeys, offering low-density living. Its proximity to Farrer Road MRT on the Circle Line adds to its allure.

The second development to have seen new psf-price highs during the review period is The Scala, with the sale of a four-bedroom unit on the 12th floor on Nov 20 for $2.6 million at a psf-price of $2,064. This marks the first time The Scala has surpassed the $2,000 psf mark. The previous record was set on Sept 9, with a two-bedroom unit on the 11th floor selling for $1.78 million at $1,969 psf. The seller had bought the unit in October 2012 for $1.66 million, making a profit of $940,000.

The Scala is a 99-year leasehold condo on Serangoon Avenue 3 in District 19 that was completed in 2013. It boasts 468 units across 17 storeys, with a mix of one- to four-bedroom units measuring between 474 sq ft to 2,142 sq ft. Its close proximity to Lorong Chuan MRT and various educational institutions adds to its appeal.

Over at Sims Edge, a freehold condo, a unit on the 13th floor was sold on Nov 22 for $780,000 at a new record of $1,907 psf. The previous record was set on Jan 18 with a one-bedroom unit on the fifth floor sold for $750,000 at $1,834 psf. The owner had bought the unit from the developer in July 2011, making a profit of $223,000.

Sims Edge, located on Geylang East Avenue 2 in District 14, Geylang, is completed in 2014. It offers a total of 78 one- to two-bedroom units with sizes ranging between 409 sq ft to 1,195 sq ft. Its close proximity to Paya Lebar MRT interchange adds to its appeal.

During the review period, there were no new psf-price lows recorded.

One of the most valuable benefits of purchasing a condominium in Singapore is the potential for increased value over time. The country’s advantageous position as a prominent center for global business, paired with its robust economic foundations, maintains a constant demand for real estate. In recent years, the property prices in Singapore have consistently risen, particularly for condos located in prime areas. By investing in the market at the opportune moment and holding onto their properties for a considerable period, investors can reap significant financial gains. If you’re interested in investing in Singapore, be sure to check out Singapore Projects for some great opportunities.…

Singapore’s popular freehold condo Gallop Gables has once again made headlines, this time by topping the list of condos that saw new psf-price highs between November 19 and November 22. The latest high of $2,299 psf came from a 2,669 sq ft four-bedroom unit on the second floor that was sold for $6.14 million on November 20. This marks a significant gain for the seller, who had purchased the unit for $4.5 million ($1,686 psf) in July 2017, making a profit of $1.64 million.

This transaction surpassed Gallop Gable’s previous record of $2,108 psf from the sale of a 1,163 sq ft two-bedroom unit for $2.45 million on February 19. Similarly, the seller had bought this unit for $2.07 million ($1,781 psf) in January 2021, making a net profit of $380,000.

Located on Farrer Road in District 10, Gallop Gables is a freehold development completed in 1997. This low-density condo features 102 units spread across four-storey blocks, and is conveniently located within walking distance of Farrer Road MRT Station on the Circle Line.

Following closely in second place is The Scala, another freehold condo in District 19, which has achieved a new psf-price record of $2,064 psf from the sale of a 1,259 sq ft four-bedroom unit on the 12th floor for $2.6 million on November 20. The seller, who had originally bought the unit for $1.66 million ($1,318 psf) in October 2012, has made a significant profit from the transaction.

This marks the first time The Scala has crossed the $2,000 psf mark, surpassing its previous record of $1,969 psf from the sale of a 904 sq ft two-bedroom unit for $1.78 million on September 9. The condo has seen a total of 16 resale transactions this year, with an average price of $1,823 psf, which is 8% higher compared to the average of $1,688 psf from 16 transactions last year.

On the other hand, Sims Edge, a freehold development in District 14, saw a new psf-price record of $1,907 psf during the period in review. This came from the sale of a 409 sq ft one-bedroom unit on the 13th floor for approximately $780,000 on November 22. The seller had initially purchased the unit for $663,807 ($1,623 psf) in April 2019.

This marks the first time a unit at Sims Edge has transacted above the $1,900 psf mark, surpassing its previous record of $1,834 psf from the sale of a 409 sq ft one-bedroom unit for $750,000 on January 18. The condo has seen five resale transactions this year, with an average price of $1,800 psf, higher than the average of $1,644 psf from four transactions last year.

Overall, no new psf-price lows were recorded during the period in review, indicating strong demand for Singapore’s property market. With such record-breaking transactions, it’s no surprise that Gallop Gables, The Scala, and Sims Edge are highly sought-after condos in their respective districts.

Investing in a condo has numerous advantages, one of which is the opportunity to utilize the property’s value for future investments. Numerous investors utilize their condos as a form of security to secure additional funding for new investments, allowing them to broaden their real estate portfolio. This approach can significantly increase returns, but it also comes with potential risks. Therefore, having a solid financial plan and carefully considering the potential effects of market fluctuations is crucial. Additionally, with the introduction of new condo launches, investors now have more options to further expand their portfolio and potentially increase their profits.…

The demand for Singapore Condo is constantly on the rise, and this can be attributed to the limited land availability in the small island nation. With a rapidly growing population, Singapore faces challenges in finding enough land for development. As a result, strict land use policies are in place, leading to a competitive real estate market with rising property prices. This trend makes investing in real estate, especially Singapore Condo, a highly profitable opportunity with the potential for significant capital appreciation.

Ardmore Park unit nets a $3.05 million profitThe most profitable condo resale deal in the week of Nov 19 to 26 was the sale of a four-bedroom unit measuring 2,885 sq ft at Ardmore Park. The 14th-floor unit was sold for $11.25 million ($3,900 psf) on Nov 22. The seller had bought the unit in September 2016 for $8.2 million ($2,843 psf), making a profit of $3.05 million or 37% over a holding period of about eight years.This deal followed the sale of another 2,885 sq ft, four-bedroom unit on the 23rd floor for $12.7 million ($4,402 psf) on Oct 1. The seller had purchased the unit in September 2010 for $9.7 million ($3,363 psf), making a profit of $3 million or 30.9%.The 2,885 sq ft unit at Ardmore Park changed hands for $11.25 million ($3,900 psf) on Nov 22 (Picture: Samuel Isaac Chua/)Ardmore Park is a luxurious freehold condo with 330 units located in the prime Ardmore Park area in District 10. Consisting of three 30-storey towers, the typical units at the development are 2,885 sq ft, four-bedroom apartments, and it also boasts six 8,740 sq ft duplex penthouses. In this year alone, there have been four other profitable resale transactions at the development, with prices ranging from $4,108 psf to $4,472 psf. The sellers of these units made a profit of between $2.65 million and $7.07 million. Freehold three-bedder in Bukit Timah sold at $2,144 psf for over $2 million profitAdvertisementThe second most profitable condo resale deal in the week was the sale of a four-bedroom apartment at Goldenhill Park Condominium. The unit, measuring 1,539 sq ft and located on the 16th floor, was sold for $3.43 million ($2,228 psf) on Nov 21. The seller, who bought the unit from the developer in May 2001 for $1.14 million ($741 psf), made a profit of $2.29 million or 201% over 23 and a half years.This is the second-highest profit recorded at Goldenhill Park Condominium so far, with the record belonging to a 2,928 sq ft, four-bedroom penthouse that was sold for $4.3 million ($1,469 psf) in February 2022. The seller of this unit had bought it from the developer in April 2001 for $2 million ($683 psf) and made a profit of $2.3 million. A 1,539 sq ft unit at Goldenhill Park Condominium sold for $3.43 million ($2,228 psf) on Nov 21, making a gain of $2.29 million (Picture: Samuel Isaac Chua/)Located in District 20, Goldenhill Park Condominium is a 390-unit freehold development completed in 2004. Units at the development range from two to four bedrooms and come with sizes from 926 sq ft to 2,928 sq ft. The condo is conveniently located near Lorong Chuan MRT Station on the Circle Line. In 2021, there have been five other prosperous resale transactions at the condo, with sellers making profits between $760,000 and $1.91 million on units sold for between $2,082 psf and $2,246 psf.Meanwhile, the least profitable condo resale transaction in the week occurred at The Oceanfront @ Sentosa Cove. The sale of a four-bedroom unit measuring 2,831 sq ft on the 10th floor for $4.7 million ($1,660 psf) resulted in a loss of $1.1 million for the seller. The seller had purchased the unit in May 2007 for $5.8 million ($2,050 psf) and held it for 17 and a half years.AdvertisementThe Oceanfront @ Sentosa Cove is a 99-year leasehold condo found in the prestigious Sentosa Cove residential estate. Featuring 264 units housed within five towers, the waterfront condo offers two- to four-bedroom apartments ranging from 1,216 sq ft to 4,284 sq ft, as well as penthouses of between 2,745 sq ft and 8,095 sq ft. To date, there have been six other resale transactions at the development, with prices ranging from $1,500 psf to $1,999 psf. Of these transactions, two were profitable with sellers pocketing $268,000 and $1.7 million while four resulted in losses ranging from $30,000 to $519,000. Take a look at the latest listings for a CondominiumAsk BuddyCompare the price trend of Condo new sale vs EC new saleThe least profitable condo transactions in the past yearCondo projects with the most unprofitable transactionsLanded transactions with the highest profits in the past yearRecently launched projectsCompare price trend of Condo new sale vs EC new saleMost unprofitable condo transactions in past 1 yearCondo projects with most unprofitable transactionsLanded transactions with the highest profits in the past yearRecently launched projectsRELATED NEWSPenthouse at Veranda sold for $1.67 mil profitThree-bedroom unit at Spanish Village sold for $2.7 mil profitFour-bedder at Ardmore Park sold for $6.5 mil profit…

Habyt, a leading co-living operator, has recently launched a new accommodation space at 5 Kadayanallur Street in Tanjong Pagar. The 18-room Kada at Maxwell is the flagship space for the company’s latest venture, Habyt Flex, which aims to broaden its product offerings from long-term co-living to short-term living options.

In August, Habyt Asia Pacific CEO Jonathan Wong announced the company’s plans to include more short-term options in its portfolio. The first properties under the Habyt Flex concept are the 39-room Habyt Novena and the 27-room Habyt Kallang, both launched in August. Other properties under the Habyt Flex concept include Habyt Cantonment and Owen House by Habyt.

Foreign investors considering investing in Singapore’s real estate market must be well-informed about the rules and limitations in place. When it comes to owning land, the regulations are more stringent than for owning condominiums. However, foreigners are still allowed to purchase condos, albeit with certain restrictions. It’s important for them to be aware that an Additional Buyer’s Stamp Duty (ABSD) of 20% will apply to their initial property purchase. Nonetheless, despite this fee, Singapore’s property market remains stable and attractive to foreign investors, thanks to its potential for growth. The market’s appeal has prompted a considerable number of new condo launches, making it an even more enticing investment opportunity. For more information on newly launched condos, please visit New Condo Launches.

The Kada at Maxwell offers a variety of rooms, from en suite studios to two- to three-bedroom units, each equipped with a kitchenette. Guests have the option to reserve rooms on a nightly or weekly basis, with a 12-month option also available.

Habyt Asia Pacific CEO Jonathan Wong believes that the Kada at Maxwell highlights the company’s dedication to redefining flexible living in Singapore and signifies the next phase of growth for Habyt Asia Pacific. Room rates at the Kada start at $180 per night.

The flexible living space is housed in a beautifully preserved 1920s colonial building designed by renowned architectural firm Swan & Maclaren. The building was originally built to serve as the St Andrew’s Mission Hospital for Women and Children and is now under the management of Singapore Land Authority (SLA).

In September 2023, SLA launched a public tender to lease the property, with bids evaluated based on the proposed concept and bid price. Bidders were encouraged to come up with unique lifestyle concepts, and the site was eventually awarded to Bethesda Medical with a monthly rental bid of $103,000. This was the third-highest bid price, with Wan Dormitory and The Working Capitol placing first and second at $160,000 and $108,240, respectively.

SLA acknowledged Bethesda Medical’s strong focus on community building and connecting people with businesses as the winning factor for their concept. The first floor of the building will feature 10 food and beverage options, while the second floor will house a gym by Limitless, a wellness center in partnership with Shiruki Studio, and a co-working space. The third floor is where Habyt’s Kada at Maxwell is located.

Residents of the Kada at Maxwell will have exclusive and complimentary access to the property’s health and wellness facilities, including a performance gym, cold plunge, infrared saunas, hot tubs, and foot baths.

According to Wong, “By combining modern amenities with the timeless charm of a heritage building, we are offering guests a unique lifestyle experience that goes beyond traditional accommodation.” The Kada at Maxwell is a perfect example of the Habyt brand’s commitment to providing innovative and exceptional living spaces for its residents.…

The Urban Redevelopment Authority (URA) has recently announced the launch of tenders for two residential Government Land Sale (GLS) sites on December 3. These sites, located at Holland Link and Chuan Grove, are both 99-year leasehold properties and fall under the Confirmed List for the 2H2024 GLS Programme.

Situated along Holland Link off Bukit Timah Road in District 10, the Holland Link site spans 185,141 sq ft and has a maximum gross floor area (GFA) of around 257,225 sq ft. According to URA estimates, it has the potential to yield approximately 230 housing units.

The site is the first GLS land parcel to be launched in the upcoming Holland Plan precinct. Along with Bayshore and Kampong Bugis, this residential area is one of URA’s three upcoming precincts. Marcus Chu, CEO of ERA Singapore, notes that this new precinct is expected to accommodate about 2,500 new homes. He anticipates developers to bid for the Holland Link site in order to take advantage of being first-movers and inject the first 230 units into the pipeline.

Chu further observes that the site is located within a 2km radius of several schools, such as Methodist Girls’ School (Primary and Secondary), Henry Park Primary School, Pei Hwa Presbyterian Primary School and National Junior College. “This could be a plus factor for families with young children looking for priority admission into these schools,” he adds.

Moreover, the Holland Link GLS site is situated near the Brizay Park Good Class Bungalow area. As a result, Mark Yip, CEO of Huttons Asia, predicts that future developments in the Holland Plain precinct are likely to focus mainly on low-density private residences.

Yip expects the Holland Link GLS site to receive between one and two bids, with the top bid estimated to be around $1,200 to $1,300 psf per plot ratio (psf ppr). Similarly, Chu anticipates a subdued response to the site due to the saturation of seven other residential sites currently open for tender. He believes that the site might receive up to three bids.

The Chuan Grove GLS site, which is located along Chuan Grove off Lorong Chuan in District 19, has a land area of 170,409 sq ft and a maximum GFA of 511,232 sq ft. It has the potential to yield approximately 555 new housing units.

The cityscape of Singapore is characterized by towering skyscrapers and state-of-the-art infrastructure. Condos, strategically located in desirable locations, offer a fusion of opulence and practicality that captures the attention of both locals and foreigners. These residences boast an array of conveniences, including swimming pools, fitness centers, and security personnel, elevating the standard of living and making them an appealing choice for renters and buyers. For real estate investors, these desirable amenities result in greater rental returns and appreciation of property value over time. Condos are without a doubt a highly sought-after choice in Singapore’s vibrant property market.

The site is conveniently located within 400m of Lorong Chuan MRT Station on the Circle Line, and is only one stop away from Bishan MRT Station (interchange with the North-South Line) and Serangoon MRT Station (interchange with the North-East Line). Chu expects the future development on this site to appeal to HDB upgraders living in the vicinity. He notes that within the next four years, an estimated 3,815 Build-to-Order (BTO) units sized four-room and larger are set to fulfil their Mandatory Occupation Period (MOP) in Toa Payoh.

Chu adds that residents of HDB flats in older estates may seek to upgrade their homes, given the increasing number of million-dollar flats in neighbouring Serangoon, Bishan, and Toa Payoh. The median transaction prices of five-room flats in Bishan and Toa Payoh over the last ten months were $792,000 and $828,000 respectively.

Chu also notes that developers could be encouraged by the better-than-expected sales performance of Chuan Park, which launched last month with 76% of the development’s 916 units sold at an average price of $2,579 psf during its launch weekend. He anticipates that bids for the Chuan Grove site could range from $571 million to $600 million, resulting in a land rate of above $1,200 psf ppr. Meanwhile, Yip predicts that the site could receive a total of three to five bids, with the top bid ranging between $1,150 and $1,250 psf ppr.

The tenders for the Chuan Grove and Holland Link sites are set to close at noon on July 8, 2025, and July 29, 2025, respectively.…