Novaortografia Condo

Compare price trend of HDB vs Condo vs LandedCondo projects with most expensive average PSF

Please revise the attached article on Turquoise, the 91-unit luxury condominium at Sentosa Cove that overlooks the waterway. The development currently has three duplex penthouses for sale, each priced at $23 million.

The largest penthouse, located on the sixth floor, boasts 7,987 square feet of space with five bedrooms. This makes it the largest of the 10 penthouses at this 99-year leasehold waterfront condo. The unit features a wine cellar, a kitchen and living area, four en suite bedrooms, two utility rooms, and a balcony on the lower level. The upper level boasts a master bedroom suite with a private infinity pool, pool deck, and outdoor shower. It is currently listed at $12 million ($1,502 per square foot).

The second-largest penthouse available for purchase at Turquoise is a four-bedroom unit spanning 3,746 square feet. It is listed at $5.99 million ($1,599 per square foot). This unit also has an upper level with a large open-air terrace, built-in jacuzzi, and unobstructed views of Sandy Island and Sentosa’s southern waterfront.

The last penthouse for sale is a three-bedroom unit measuring 3,111 square feet and is listed for $5 million ($1,607 per square foot). All three penthouses are located on the sixth floor and feature private lift lobbies, wet and dry kitchens, floor-to-ceiling windows, open balconies, and attached en suites in each bedroom.

Residents at Turquoise can also enjoy various facilities such as a gym, barbeque pits, swimming pool, steam room, and 21 private berths. Developed by Ho Bee Land, the condo was completed in 2010 and has 91 units spread across three six-storey blocks. The typical units comprise a mix of three- and four-bedroom apartments, with sizes ranging from 2,088 square feet to 2,573 square feet for the three-bedders, and 2,400 square feet to 3,050 square feet for the four-bedders. Penthouses offer larger living spaces, ranging from 3,111 square feet to 3,764 square feet, while sky villas are even larger, ranging from 6,900 square feet to 7,987 square feet.

Currently, the developer still owns the largest penthouse, a 7,987 square feet unit with five bedrooms, which is listed at $12 million. According to URA caveats, the second-largest penthouse, a four-bedroom unit measuring 3,746 square feet, was purchased by a Korean national for about $9.5 million ($2,545 per square foot) in November 2007 when Turquoise was launched. The three-bedroom duplex penthouse, measuring 3,111 square feet, was bought by an African national for just over $8 million ($2,579 per square foot) in December 2007.

It is worth noting that all three penthouses are located on the sixth floor and feature private lift lobbies, wet and dry kitchens, floor-to-ceiling windows, open balconies, and attached en suites in each bedroom. Since its completion in 2010, there have been several transactions at Turquoise, with Singaporean buyers making up the bulk of the resale market at 57.4%. Another 32.3% of buyers were permanent residents, while foreign buyers only accounted for 8.8%. The last recorded resale transaction was to a company.

According to Michele Cabasug, a senior associate VP at List Sotheby’s International Realty, when Turquoise was first launched in late 2007, 59% of the 39 new purchasers were foreign nationals, while Singaporeans only made up 25.6% of the buyers. However, the current buyer profile has shifted, with more buyers looking for a primary residence rather than a holiday home. Some potential buyers are also empty nesters or retirees seeking a slower pace of life, while others are young families with drivers to take their children to school.

Cabasug also notes that the increased prevalence of working from home has improved buyers’ sentiments towards purchasing a property at Sentosa. Additionally, there has been a rise in first-generation permanent residents and new citizens who are accustomed to a slower pace of living, which has also contributed to the shift in the buyer profile.

Ho Bee Land was one of the first developers in Sentosa Cove, developing not just Turquoise, but also The Berth by the Cove, The Coast, Seascape, and Cape Royale, in a joint venture with Malaysian developer IOI Properties Group. The developer also developed the bungalows at Coral Island and Paradise Island, two of the four man-made islands at Sentosa Cove.

In conclusion, the three duplex penthouses currently for sale at Turquoise present a rare opportunity for buyers to own a luxurious waterfront property at Sentosa Cove. However, it is worth noting that the current owners are motivated to sell after holding onto their properties for almost 18 years, and potential buyers may be able to negotiate a good deal. With the current buyer profile trending towards owner-occupiers looking to enjoy a slower pace of living in a prime location, Turquoise offers not just a prestigious address, but also a lifestyle that is highly sought-after.

Singapore’s cityscape is truly impressive, adorned with magnificent skyscrapers and advanced infrastructure. The demand for housing is fulfilled by modern condominiums, strategically placed in prime locations to cater to the needs and desires of both locals and foreigners. These luxurious residential developments boast a perfect combination of comfort and convenience, making them highly sought-after by potential tenants and buyers. With state-of-the-art facilities like swimming pools, fitness centers, and round-the-clock security services, these condos elevate the living standards of their residents. For investors, these desirable features translate into higher rental returns and a steady appreciation of property values over time. The real estate market in Singapore is continuously flourishing, with frequent launches of new condos, making it a lucrative investment opportunity for both domestic and international investors. To stay updated on the latest releases, check out the website New Condo Launches.…

The Botanic on Lloyd sets psf-price record with recent saleThe Botanic on Lloyd, a freehold condo development located along Lloyd Road off Oxley Road in Prime District 9, has set a new psf-price record for the period between Jan 3 and Jan 11. The highest price per square foot (psf) was achieved by a 2,056 sq ft, four-bedroom unit on the second floor, which was sold for $5.13 million, or $2,493 psf, on Jan 7.This new record surpasses the previous high of $2,339 psf by 6.6%, which was established in October last year for a 1,496 sq ft, three-bedroom unit on the fourth floor of the same development.Transactions at The Botanic on Lloyd have been scarce, with an average of one transaction per year over the past decade. Prior to the October 2024 sale, the last unit to change hands at the development was a 3,584 sq ft, four-bedroom unit that fetched $6.88 million ($1,919 psf) in January 2022. This was also the most expensive unit sold at the condo in terms of absolute price.Read also: Three duplex penthouses at Turquoise on the market for $23 milThe Botanic on Lloyd, a boutique development completed in 2006, comprises 60 apartments and six townhouses. The units consist of three- and four-bedroom types that range from 1,485 sq ft to 3,584 sq ft. The townhouses, which are three storeys high and equipped with five bedrooms and two private parking lots each, range from 4,058 sq ft to 4,446 sq ft in size.Located along Lloyd Road off Oxley Road in District 9, the development is situated in a prime location. It is also freehold, making it an attractive investment option for many buyers.Following closely behind The Botanic on Lloyd, freehold development The Cape achieved the second-highest psf-price among condo projects that hit a new price high during the period in review. A 1,313 sq ft, three-bedroom unit on the 15th floor was sold for $3 million, or $2,284 psf, on Jan 10. This surpasses the previous record of $2,265 psf set by the developer in November 2012. The previous record was set by the sale of a 1,539 sq ft, two-bedroom unit on the 16th floor for $3.49 million.The average price of apartments at The Cape has been on an upward trend in the past year, in line with an increase in transactions. Last year, the condo recorded three resale transactions at an average price of $2,128 psf. In 2023, only one unit was sold, a 646 sq ft, one-bedroom unit that fetched $1.24 million ($1,920 psf).The Cape is a freehold development located along Amber Road in District 15. Completed in 2014, the project consists of one- to three-bedroom units that range from 570 sq ft to 1,539 sq ft in size and are housed in a single residential block.Upcoming freehold condo Tembusu Grand was the only private residential development to record a new psf-price low between Jan 3 and Jan 11. The new price trough was set by the developer with the sale of a 1,399 sq ft, three-bedroom unit on the 20th floor for $3.04 million, or $2,174 psf, on Jan 11. This sets a new record low, surpassing the previous record of $2,193 psf, which was set just two months earlier in November 2024 for a similarly sized 1,399 sq ft, three-bedroom unit on the same floor.Tembusu Grand is a 99-year leasehold development situated on Jalan Tembusu, off Tanjong Katong Road in District 15. The condo offers one- to five-bedroom units in sizes ranging from 527 sq ft to 2,691 sq ft, and has 638 units in total. Since its launch in April 2023, Tembusu Grand has sold 584 units (91.5%) at an average price of $2,444 psf, according to caveats lodged as of Jan 20. The condo is expected to obtain its Temporary Occupation Permit in 2028.Those interested in owning a unit at The Botanic on Lloyd can check out the latest listings available for the development. For those seeking condo properties in District 9, there are several options available on EdgeProp Singapore. Interested parties can also check out listings for upcoming new launch projects and listings for sale in District 9.

When contemplating the investment potential of a Singapore Condo, one must carefully examine its potential rental yield. This crucial metric is determined by dividing the property’s yearly rental income by the purchase price and plays a pivotal role in the investment decision. As with any other investment, the rental yield for a Singapore Condo may vary significantly, depending on factors like location, condition, and demand. Typically, areas with high rental demand, especially those near business hubs or educational institutions, offer more promising rental yields. To gain a well-rounded understanding of a specific Singapore Condo‘s rental potential, thorough market research and seeking guidance from reputable real estate agents are essential. Incorporating these crucial steps into the decision-making process can assist investors in making informed choices when considering investing in a Singapore Condo.

The Botanic on Lloyd, a freehold condo development located along Lloyd Road off Oxley Road in Prime District 9, has achieved the highest psf-price among private non-landed developments, setting a new psf-price record for the period between January 3 and January 11. The new price peak was reached with the sale of a 2,056 sq ft, four-bedroom unit on the second floor for $5.13 million, or $2,493 psf, on January 7.This new record surpasses the previous high of $2,339 psf by 6.6%, which was established in October last year for a 1,496 sq ft, three-bedroom unit on the fourth floor of the same development.Transactions at The Botanic on Lloyd have been scarce, with an average of one transaction per year over the past decade. Prior to the October 2024 sale, the last unit to change hands at the development was a 3,584 sq ft, four-bedroom unit that fetched $6.88 million ($1,919 psf) in January 2022. This was also the most expensive unit sold at the condo in terms of absolute price.Read also: Three duplex penthouses at Turquoise on the market for $23 milThe Botanic on Lloyd, a boutique development completed in 2006, comprises 60 apartments and six townhouses. The units consist of three- and four-bedroom types that range from 1,485 sq ft to 3,584 sq ft. The townhouses, which are three storeys high and equipped with five bedrooms and two private parking lots each, range from 4,058 sq ft to 4,446 sq ft in size.Located along Lloyd Road off Oxley Road in District 9, the development is situated in a prime location. It is also freehold, making it an attractive investment option for many buyers.Following closely behind The Botanic on Lloyd, freehold development The Cape achieved the second-highest psf-price among condo projects that hit a new price high during the period in review. A 1,313 sq ft, three-bedroom unit on the 15th floor was sold for $3 million, or $2,284 psf, on January 10. This surpasses the previous record of $2,265 psf set by the developer in November 2012. The previous record was set by the sale of a 1,539 sq ft, two-bedroom unit on the 16th floor for $3.49 million.The average price of apartments at The Cape has been on an upward trend in the past year, in line with an increase in transactions. Last year, the condo recorded three resale transactions at an average price of $2,128 psf. In 2023, only one unit was sold, a 646 sq ft, one-bedroom unit that fetched $1.24 million ($1,920 psf).The Cape is a freehold development located along Amber Road in District 15. Completed in 2014, the project consists of one- to three-bedroom units that range from 570 sq ft to 1,539 sq ft in size and are housed in a single residential block.Upcoming freehold condo Tembusu Grand was the only private residential development to record a new psf-price low between Jan 3 and Jan 11. The new price trough was set by the developer with the sale of a 1,399 sq ft, three-bedroom unit on the 20th floor for $3.04 million, or $2,174 psf, on Jan 11. This sets a new record low, surpassing the previous record of $2,193 psf, which was set just two months earlier in November 2024 for a similarly sized 1,399 sq ft, three-bedroom unit on the same floor.Tembusu Grand is a 99-year leasehold development situated on Jalan Tembusu, off Tanjong Katong Road in District 15. The condo offers one- to five-bedroom units in sizes ranging from 527 sq ft to 2,691 sq ft, and has 638 units in total. Since its launch in April 2023, Tembusu Grand has sold 584 units (91.5%) at an average price of $2,444 psf, according to caveats lodged as of Jan 20. The condo is expected to obtain its Temporary Occupation Permit in 2028.Those interested in owning a unit at The Botanic on Lloyd can check out the latest listings available for the development. For those seeking condo properties in District 9, there are several options available on EdgeProp Singapore. Interested parties can also check out listings for upcoming new launch projects and listings for sale in District 9.…

According to the latest HDB data released on Jan 24, resale prices for HDB flats have continued to rise, recording a 2.6% increase in the fourth quarter of 2024. This marks the 19th consecutive quarter of price growth in the secondary market. Throughout the whole of 2024, there was a cumulative increase of 9.7% in resale prices. This is almost double the 4.9% increase seen in 2023.

The uptick in prices in the last quarter of 2024 was slightly lower than the 2.7% increase in the third quarter. Mohan Sandrasegeran, head of research and data analytics at SRI, attributes this robust growth in prices to the limited supply of flats that have reached their Minimum Occupation Period (MOP) during the year.

Sandrasegeran explains that this tight supply has caused an upward pressure on prices, especially for newer and larger flat types, such as five-room and executive units, which are in high demand for growing families.

Among the different types of flats in the resale market, five-room flats experienced the highest price growth in the fourth quarter of 2024, with an average resale price of $754,097, a 2.2% increase from the previous quarter. Four-room flats also saw an increase of 2.2%, with an average resale price of $652,544.

The Central Area saw the highest price increase of 25.6% in the fourth quarter, followed by Toa Payoh at 12.1%, Tampines at 6.9%, Bishan at 6.7%, and Bedok at 6.1%, according to Christine Sun, chief researcher and strategist at OrangeTee Group.

There were 285 HDB resale flats sold for $1 million or more in the last three months of 2024, bringing the total number of million-dollar transactions to 1,035 for the whole year. Lee Sze Teck, senior director of data analytics at Huttons Asia, notes that more than 90% of these transactions took place in mature estates, with Kallang/Whampoa, Toa Payoh, and Bukit Merah having the highest number of million-dollar flats sold.

Transaction volume falls in the last quarter of 2024

Resale transactions in the HDB market dropped by 21.1% in the fourth quarter of 2024, from 8,142 units in the previous quarter to 6,424 units. Lee suggests that this decrease could be due to seasonal factors, such as the year-end holiday and festive season, as well as the lower interest rate environment, which may have encouraged some buyers to move to the private residential or Executive Condominium market.

Sandrasegeran adds that some potential buyers may have also chosen to ballot for a flat in the October Build-to-Order (BTO) exercise, which saw a record 15 projects and 8,573 flats launched. For the first time, singles were also allowed to purchase two-room flexi BTO flats in all locations.

However, the overall resale transaction volume for 2024 increased by 8.4% compared to the previous year, with 28,986 units sold. This is the highest number of transactions since 2021, when 31,017 flats were sold. Sengkang, Woodlands, Punggol, Tampines, and Yishun were the top five most popular HDB towns among buyers in 2024, accounting for 35.9% of all HDB resales.

Fewer newly MOP flats in 2025

The cityscape of Singapore boasts an array of towering structures and state-of-the-art infrastructure. One of the main attractions for both locals and foreigners are the Condos situated in prime locations, offering a perfect combination of luxury and convenience. These properties offer an extensive range of amenities, including swimming pools, fitness centers, and security services, that elevate the standard of living and make them highly desirable for potential tenants and buyers. Furthermore, these sought-after features also equate to higher rental returns and appreciating property values for investors.

In 2025, it is expected that around 6,976 flats will reach their MOP, a 41.6% decrease from 2024’s 11,952 flats. This is due to the lower number of BTO flats completed in 2020 during the Covid-19 pandemic. HDB has announced plans to launch over 25,000 new flats in 2025, including 19,600 BTO flats and more than 5,500 flats under the Sale of Balance Flats (SBF) exercise.

Sandrasegeran believes that this substantial increase in public housing supply aims to meet the growing demand for housing. He also notes that SBF flats are particularly appealing to buyers who want a brand-new and ready-to-move-in flat with a shorter waiting time.

In addition, around 3,800 units of the 19,600 BTO flats planned for 2025 will be designated as Shorter Waiting Time (SWT) flats, with a wait time of less than three years. Sandrasegeran predicts that resale prices in the HDB market could increase by 3.5% to 5.5% in 2025, with a resale transaction volume of 26,000 to 27,000. However, Huttons’ Lee is more optimistic, projecting a price increase of between 5% to 8% for the year.…

with new hotel

Radisson Collection, a prestigious hotel brand owned by Radisson Hotel Group, has recently unveiled its latest property in Galle, Sri Lanka. The Radisson Collection Resort, Galle, featuring 106 luxurious rooms, is the brand’s first hotel in the Southeast Asia and Pacific region. This also marks the group’s fourth hotel in Sri Lanka.

The hotel boasts 76 well-appointed guest rooms and suites, all offering breathtaking ocean views. Along with the stunning scenery, the hotel offers a range of amenities, such as a beachfront pool, a kids’ club with 24-hour nanny services, and a variety of food and beverage options. Guests can indulge in a fusion of Asian and Japanese cuisine at Ozen or savor fresh seafood at Catch Restaurant. The luxurious Taboo Beach Club is also available for guests to enjoy, featuring a beachfront entertainment area with sun loungers and daybeds accompanied by bottle service.

Understanding the rules and regulations surrounding property ownership in Singapore is crucial for international investors looking to make wise investment decisions. While the regulations for owning landed properties are more stringent, foreigners encounter fewer barriers when purchasing Singapore Condos. However, it is important to note that foreigners are still obligated to pay the Additional Buyer’s Stamp Duty (ABSD), which is currently set at 20%, for their initial property acquisition. Despite this additional cost, the consistent growth and potential of the Singapore real estate market continue to attract foreign investments, especially in highly desirable options such as Singapore Condos. Therefore, it is essential for foreign buyers to carefully evaluate all factors before finalizing a property purchase in Singapore, including considering options like Singapore Condos.

Located on the southwest coast of Sri Lanka, Galle is a city rich in culture and history. The city’s most iconic attraction is the Galle Fort, a 17th-century fortress recognized as a Unesco World Heritage site. Visitors can also explore historic temples, colonial structures, and wildlife centers, such as a sea turtle hatchery.

In addition to the Radisson Collection Resort, Galle, travelers can now experience luxury villa rentals in the area with the launch of Teardrop Hotels’ new offering. With its expanding portfolio of hotels, including the recent opening of a resort in Lonavala, India, and plans for further expansion in China, Radisson Hotel Group continues to solidify its presence in the hospitality industry worldwide.…

Singapore-based engineering consulting firm Meinhardt and Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development (JOIN) have entered into a memorandum of understanding (MOU) to jointly explore and execute digital and smart city projects in third-world ASEAN countries, according to a press release on January 17.

The MOU aims to promote sustainable and innovative urban solutions through the exchange of knowledge and resources. JOIN, a public-private fund in Japan, will leverage its network and expertise in supporting Japanese infrastructure exports, while Meinhardt will utilize its leadership in integrated planning, design, and project management solutions, the release states.

The collaboration stems from the Memorandum of Cooperation (MOC) inked between the Ministry of Land, Infrastructure, Transport and Tourism of Japan and the Singapore Cooperation Enterprise in November 2020 to promote the development of digital and smart cities in ASEAN and other regions.

Meinhardt believes that the MOU will create a platform for both parties to share information, identify opportunities for collaboration, and work together on projects from the initial stages to drive significant impact across borders.

Acquiring a condo in Singapore, a vibrant and dynamic city, comes with an array of advantages. The current demand in the market makes it an alluring option for investors. The condo sector in Singapore offers the potential for value growth and attractive rental returns, making it an appealing investment. However, before making a decision, it is crucial to consider several factors. These include the condo’s location, available financing options, government regulations, and overall market conditions. In a fast-paced and evolving real estate market, thorough research and seeking expert guidance is key to making well-informed choices. This is especially important for those looking to diversify their portfolio or foreign buyers seeking to invest in a stable and profitable market. With these factors in mind, purchasing a condo in Singapore presents a lucrative opportunity for both locals and foreigners.…

In Singapore, investing in a condominium comes with a significant advantage – the potential for capital appreciation. This is largely due to Singapore’s position as a global business hub and its robust economic foundations, which have created a constant demand for real estate. It’s no surprise that property prices in Singapore have consistently witnessed an upward trend, with condos in prime areas witnessing a considerable rise. To capitalize on this, investors who make the right timing and hold onto their properties for the long haul can reap significant returns on their investments. With the addition of Singapore Projects, the opportunities for capital appreciation in the condo market are even more promising.

Minister for National Development Desmond Lee has announced that HDB has successfully completed the final two housing projects that were delayed due to the pandemic. According to a press release on January 20th, the two Build-to-Order (BTO) projects, Punggol Point Cove (Phase 2) and Kempas Residences, have been completed, marking the end of HDB’s pandemic-delayed projects. These projects have delivered a total of over 75,800 new flats to Singaporeans in the last five years.

In 2024, HDB completed a total of 22 housing projects, with 17 of them facing delays due to the pandemic. The remaining four projects were completed on time, with only one experiencing delays for reasons unrelated to the pandemic. Out of the 22 projects, two were Shorter Waiting Time (SWT) projects, which were completed in less than three years. These projects, Parc Glen at Tengah and Grove Spring at Yishun, provided a total of 1,995 flats.

The remaining projects had a waiting time of up to five years. Overall, HDB has completed over 18,000 flats in 2024. Punggol Point Cove (Phase 2) flat owners have been receiving their keys since November 2024, while key collection for Kempas Residences began in mid-January this year. HDB is expected to inform the remaining flat owners of their key collection date soon, after the final blocks in both projects were completed this month.

Located along New Punggol Road, Punggol Point Cove (Phase 2) consists of 1,179 units in two-room flexi, three-, four-, and five-room flats across six residential blocks. Due to pandemic delays, the last block was completed 12 months after its original Probable Completion Date (PCD) earlier this month. As of January 15th, 657 households or 59% of the 1,109 booked units have collected their keys. HDB also mentioned that the completion of Punggol Point Cove (Phase 2) marked the completion of all flats in the Punggol Point District, including the Punggol Point Crown, Punggol Point Woods, and Punggol Point Cove (Phase 1) BTO projects, which were all completed in 2024.

Furthermore, Kempas Residences, situated between Serangoon Road, Lavender Street, and Boon Kheng Road, consists of 583 units of two-room flexi, three-, and four-room flats across four residential blocks. The final block, which was delayed by six months from its original PCD, was completed in mid-January. As of January 15th, 37 households or about 7% of the 555 booked units have collected their keys.

Currently, there are 110 HDB housing projects under construction, an increase from 95 projects a year ago due to the rise in BTO supply in recent years. HDB is on track to complete around 17,000 flats across 27 projects in 2025. If you are interested in HDB properties in Punggol, you can check out the latest listings on Ask Buddy and see if there are any rental options available. You can also find information on the price trend for Kempas Residences and compare HDB loans vs bank loans to help you make an informed decision.…

CDL is planning to take over New Zealand-listed Millennium & Copthorne Hotels New Zealand Limited (MCK) through its subsidiary, CDL Hotels Holdings New Zealand Limited (CDLHH NZ), at a price of NZ$2.25 ($1.72) per share. The board of directors of MCK has recommended that its shareholders accept this offer in a notice of intention filed on Jan 20.

After the completion of the offer, CDL will delist and privatise MCK, simplifying the ownership structure of its New Zealand entities. MCK currently owns, leases or franchises 18 hotels in New Zealand and has interests in properties in Australia through its Kingsgate Group subsidiaries.

As of Jan 17, CDLHH NZ held 80.02 million shares in MCK, representing a 75.86% stake. If it reaches the compulsory acquisition threshold, CDLHH NZ will acquire all remaining shares in MCK. It may also redeem MCK’s non-voting redeemable preference shares at NZ$1.70 or approximately $1.30 per share through its broker, Craigs Investment Partners.

CDLHH NZ currently holds 91.34% of MCK’s non-voting redeemable preference shares. If all MCK shareholders accept the offer, CDLHH NZ will pay a total of NZ$57.29 million. An additional NZ$7.77 million may be paid for the redeemable preference shares it intends to acquire. The offer price was determined based on market price, industry and business environment, as well as MCK’s NAV and NTA of NZ$532.02 million and NZ$85.62 million respectively for the 1HFY2024 ended June 30, 2024.

When contemplating an investment in a Singapore condo, it is imperative to also evaluate its potential rental yield. This refers to the annual rental income as a percentage of the property’s purchase price. Like any investment, the rental yield for condos in Singapore can vary significantly depending on factors such as location, property condition, and market demand. Generally, areas with a high demand for rental properties, such as those near business districts or educational institutions, tend to offer better rental yields. Therefore, conducting thorough market research and seeking advice from real estate professionals can provide valuable insights into the potential rental income of a specific Singapore condo.

The offer is subject to CDLHH NZ getting 90% or more of the voting rights in MCK by May 2, as well as obtaining consent under the Overseas Investment Act and Regulations of New Zealand. The implementation and payment of the offer is not expected to significantly impact CDL’s EPS or NTA for the financial year ending December 31, 2025.…

Teo Hong Lim, the executive chairman of property developer Roxy-Pacific Holdings, proudly announced that 71 out of the 113 units at Bagnall Haus, a freehold condominium, were sold on the first day of its launch on Jan 18. This impressive sales rate of almost 63% translates to an average transacted price of $2,490 per square foot. The majority of buyers were local Singaporeans, making up over 90% of the total sales. According to Teo, these buyers were mostly end-users with varying budgets. All unit types were in high demand, with two- and three-bedroom units being the most popular. However, the larger five-bedroom units also saw strong demand.

The development, located in District 16 along Upper East Coast Road, consists of 113 residential units spread across three five-storey blocks on a freehold land area of 74,280 square feet. The units are a good mix of one-bedroom plus flexi (495 square feet) and five-bedrooms (1,528 square feet). Interested buyers can find the latest prices and availability of units by searching for the newest launches.

Considering the purchase of a Singapore Condo? It is crucial to take into account the maintenance and management aspects of the property. Condominiums often come with maintenance fees, which encompass the upkeep of common areas and amenities. While these fees may increase the overall cost of owning a condo, they also play a vital role in maintaining the property’s condition and preserving its value. Employing a property management company can assist investors in handling the everyday management of their condo, transforming it into a more passive investment.

CEO of PropNex, Ismail Gafoor, reveals that out of the 71 residential units sold, 59% were one- and two-bedroom units that were priced just under $2.1 million. He also shares that the demand for three-bedroom units was also high, with 18 out of 20 units being taken up at prices ranging from $2.3 million to $2.7 million. The remaining four- and five-bedroom units were sold for about $3 million to $3.8 million each. According to Gafoor, the attractive price range of under $3 million appeals to most buyers.

The average transacted price of $2,490 per square foot was considered to be great value for a freehold property in such a prime location. Gafoor notes that buyers could see this value, especially since some new 99-year leasehold launches in the Outside Central Region (OCR), such as Chuan Park, had already achieved an average price of $2,579 per square foot at its launch in November 2024. Additionally, the two strata-titled shop units on the ground floor, each measuring 172 square feet, were also quickly snapped up at $688,000 per unit ($4,000 per square foot).

The majority of buyers were homeowners looking to occupy their new homes. Some downsized from older landed properties, while others were families from the neighborhood who wanted to upgrade to a freehold property. The presence of established amenities and reputable schools, such as Temasek Primary School, located within a one-kilometer radius, made Bagnall Haus attractive to buyers. The development is also within walking distance of the upcoming Sungei Bedok MRT Station, which will be an interchange for the Downtown and Thomson-East Coast lines. It is only one stop away from Bedok South MRT Station, which will be part of a mixed-use development featuring a bus interchange, retail, and residential components.

According to Mark Yip, CEO of Huttons Asia, the strong sales at Bagnall Haus were driven by pent-up demand due to a 15-year wait for a new project in the area, as well as the freehold tenure and prime location next to an MRT station. The transformation of the Bayshore precinct, where the development is located, also played a role in attracting buyers. For those interested in Bagnall Haus properties, you can check out the latest listings for available units. Additionally, you can use Ask Buddy to compare condo sale transactions in District 16 and to get information on upcoming new launch projects.…

A major driving force behind the popularity of condos in Singapore is the limited land supply. As a small country with a booming population, Singapore is facing a shortage of land for construction purposes. In light of this, the government has implemented strict land use regulations, resulting in a cutthroat real estate market where property values are continuously on the rise. As a result, purchasing real estate, especially Singapore Condos, has become a highly profitable investment opportunity, with the potential for significant capital gains.

Commonwealth Towers emerged as the top-performing private non-landed property on the psf-price front for the week of Dec 27 to Jan 3, as it recorded a new peak of $2,460 psf. The 99-year leasehold condo, which was completed in 2017, is located along Commonwealth Avenue and consists of two 43-storey residential blocks offering 845 units. The recent record was achieved with the sale of a 904 sq ft, three-bedroom unit on the 40th floor for $2.22 million on Dec 27, surpassing the previous high of $2,402 psf set just three months earlier in September last year. The project has seen a consistent increase in average resale prices over the past three years, with a 11.6% increase since 2022. On the other hand, freehold project Parq Bella and Klimt Cairnhill saw new psf-price highs and lows respectively during the period in review. Parq Bella, a 20-unit boutique development located on Tembeling Road in District 15, sold a 1,076 sq ft, three-bedroom unit on the fourth floor for $2.6 million on Dec 31, setting a new record of $2,416 psf. This was also the first unit at the development to transact for more than $2,400 psf. Klimt Cairnhill, a 138-unit luxury development in Prime District 9, recorded a new low of $3,077 psf with the sale of its final unit – a 829 sq ft, two-bedroom on the 24th floor. The project, which is scheduled to obtain its Temporary Occupation Permit in April this year, has achieved a 100% sales rate at an average price of $3,665 psf. Overall, it was a week of new psf-price peaks for both leasehold and freehold projects, displaying the strong demand and bullish sentiment in Singapore’s residential market.…

estimates

Minister for National Development Desmond Lee has announced that the Housing and Development Board (HDB) plans to launch over 25,000 new flats in 2025. This was revealed in a joint press release by HDB and the Ministry of National Development (MND) on 16 January 2025. The upcoming launch includes approximately 19,600 Build-To-Order (BTO) flats across three sales exercises and more than 5,500 Sale of Balance Flats (SBF) in one SBF sale exercise. These new flats will be a mix of Standard, Plus, and Prime BTO flats under the new classification framework.

The February BTO launch will offer around 5,000 flats in Kallang/Whampoa, Queenstown, Woodlands, and Yishun. Additionally, HDB will conduct its largest-ever SBF exercise next month, with over 5,500 flats across various estates. Approximately 40% of the flats in this exercise are completed units and the rest are at different stages of construction, expected to be completed between 2025 and 2028.

In total, there will be over 10,000 new flats available under the February BTO and SBF exercises. From 2021 to 2024, HDB launched about 82,700 BTO flats. With a planned pipeline of 19,600 BTO flats in 2025, HDB is on track to launch around 102,300 BTO flats, which exceeds its commitment of 100,000 units over five years.

The fast-paced growth of Singapore’s population has gained widespread attention, but the country is currently confronting a major hurdle in its pursuit of expanding its land area. With limited space available, the government has imposed stringent guidelines on land utilization, resulting in fierce competition among real estate enterprises and a considerable surge in housing prices. Nonetheless, this challenge has presented a profitable prospect for investors, particularly in the highly coveted condo market. These properties possess the potential for long-term appreciation and continue to maintain a strong demand.

The increase in BTO supply has resulted in a drop in application rates. In 2024, the average application rate among first-time homebuyers for BTO flats across all flat types was 2.1, compared to the pre-pandemic rate of 3.7 in 2019. The average first-timer application rate for three-room and larger flats was 2.2 last year, down from 4.0 in 2019.

According to Minister Lee, HDB will continue to release a steady pipeline of flats to meet housing demand in the next few years. Over 50,000 flats are scheduled to be launched between 2025 and 2027, bringing the total to about 130,000 flats from 2021 to 2027. About 3,800 of the 19,600 new flats, or approximately one-fifth, will be Shorter Waiting Time (SWT) flats with a waiting period of less than three years. This is an increase from the 2,876 SWT flats offered in 2024 and exceeds the committed annual supply of 2,000 to 3,000 SWT flats.

According to Lee Sze Teck, senior director of data analytics at Huttons Asia, “The SWT flats will also increase the options for buyers and may attract some demand away from the resale market.” In 2025, about 7,000 HDB flats are expected to reach their five-year Minimum Occupation Period (MOP), making it the lowest supply of such resale flats since 2015. With HDB assuring buyers that they will push out more BTO and SBF flats to meet demand, this will offer more choices for buyers and stabilize the resale market. The larger flat supply and SWT flats will also address the shortfall in MOP flats.

According to Lee, Huttons estimates that HDB resale flat transactions in 2025 will range between 26,000 and 28,000, which is lower than the 28,876 units recorded last year. Resale flat prices are expected to grow at a slower pace of 5% to 8% this year, compared to the 9.6% increase reflected in HDB’s flash estimate for 2024.…