Month: December 2024

Projects listed on EdgeProp SingaporeA total of three new executive condo (EC) projects are set to launch in 2025, with the highly anticipated Aurelle of Tampines by Sim Lian Group leading the pack. Located at Tampines Street 62, the 760-unit development will debut in the first quarter of 2025, most likely after the Lunar New Year. This launch comes on the heels of the well-received Emerald of Katong, which is now over 99% sold.

Having secured the site at Tampines Street 62 (Parcel B) for $543.28 million, or $721 psf per plot ratio (ppr) following a successful government land sales (GLS) tender in October 2023, Sim Lian Group is confident that Aurelle at Tampines will set a new price benchmark for ECs. PropNex CEO Ismail Gafoor believes that the project could potentially surpass the $1,600 psf threshold, especially considering the rising construction costs and the harmonisation of gross floor area (GFA) definitions. This expectation follows the success of the recent Novo Place EC, which was launched in November and sold at an average price of $1,656 psf.

Another development worth keeping an eye on is the 618-unit Tenet EC, which is located at Tampines Street 62 (Parcel A). It is developed through a joint venture between Qingjian Realty, Santarli Realty, and Heeton Holdings, and was launched in December 2022. So far, the project has sold 617 units at an average price of $1,384 psf, with only one unit remaining as of Dec 19, 2024. The land plot for Tenet was acquired for $442 million in August 2021, translating to a record-high price of $659 psf ppr for an EC plot at the time. Notably, Tenet was launched before the implementation of the GFA harmonisation rule, which applies to GLS sites launched for sale after Sept 1, 2022.

Adjacent to Aurelle at Tampines is the 560-unit Plantation Close EC in Tengah Town, which is set to launch in late 2025. Developed by a joint venture between Hoi Hup Realty and Sunway Developments – the same developers behind the successful Novo Place EC – the project is also expected to perform well, given its prime location near the upcoming Tengah Park MRT and Bukit Batok West MRT Stations on the Jurong Region Line.

In early November 2024, Singapore-listed developer Sim Lian Group secured another EC site when it was awarded the Tampines Street 95 GLS site. This time, the company submitted the highest bid of $465 million, or $768 psf ppr, setting a new high for EC land prices. The new project, which is expected to add 560 new units, will further boost the EC supply in the area. Sim Lian Group has an extensive track record of developments in the eastern part of the island, including the recently completed Treasure at Tampines – Singapore’s largest private condominium with 2,203 units.

Despite the higher benchmark price, Novo Place performed well due to several factors, including the project’s favourable location. Situated at Plantation Close in Tengah, the EC benefits from proximity to the upcoming Tengah Park MRT and Bukit Batok West MRT Stations on the Jurong Region Line, which are expected to be completed by 2029. The last EC launch in Pasir Ris was Sea Horizon in 2013, so there is currently high demand for new EC projects in the area. A third EC project, potentially launching in late 2025, is located at Jalan Loyang Besar in Pasir Ris. A joint venture between Qingjian Realty, Forsea Holdings, and ZACD Group purchased the site for $557 million, or $729 psf ppr, in August 2024. The project is expected to yield 710 units.

Assessing the potential rental yield is an essential factor to consider when investing in a condo. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. In Singapore Projects, rental yields for condos can vary significantly depending on various factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, offer better rental yields. To gain valuable insights into the rental potential of a specific condo, it is crucial to conduct thorough market research and seek guidance from real estate agents.

With a total of 2,030 new units set to be added by the three upcoming EC projects, the market will see a doubling in new supply compared to the 1,016 units launched in 2024. The first EC launched in 2024 was Lumina Grand at Bukit Batok West Avenue 5, which is developed by City Developments (CDL). As of Dec 17, 444 units, or 87%, had been taken up. The average price achieved to date is $1,511 psf.

ECs remain highly sought after by first-time homebuyers and HDB upgraders, as they are still more affordable than new launches in the private market. According to PropNex, the median price for new non-landed, 99-year leasehold private homes in the Outside Central Region (OCR) in 2024 is $2,203 psf (as of Dec 8, 2024). Based on caveats lodged during the same period, this represents a 44% premium over new EC launch prices.…

after 27 years of ownershipX-Drone: Ardmore Park, the luxury condo with the biggest resale gains in Singapore

Understanding the regulations and limitations of property ownership in Singapore is crucial for international investors. While foreigners typically face fewer restrictions when purchasing condominiums, certain rules are in place for owning landed properties. Additionally, foreign buyers must be aware of the Additional Buyer’s Stamp Duty (ABSD) which currently stands at 20% for their first property purchase. However, the consistent growth and stability of the Singapore real estate market remain a strong magnet for foreign investment. As such, Singapore Projects continue to attract foreign buyers, despite the added costs associated with property ownership.

Biggest Gains from Resale Transactions at Ardmore Park in Prime District 10 Resale transactions at Ardmore Park, a luxury condominium in the prime Ardmore-Draycott enclave in District 10, recorded some of the largest gains in 2024. Based on caveats lodged with the URA as of December 17, the freehold development accounted for the first, second, and fourth most profitable condo resale transactions that took place between January 1 and December 10 this year.

The highest profit was achieved from the sale of a 2,885 sq ft, four-bedroom unit on the 26th floor at Ardmore Park on February 16 for $12.9 million ($4,472 psf). The unit was initially purchased from the developer for $5.83 million ($2,022 psf) in July 1996. This translates to a profit of $7.07 million, or a gain of 121%, after a holding period of approximately 27 and a half years.

The second-highest gain occurred five months later on July 24, when a four-bedroom unit measuring 2,885 sq ft on the 18th floor changed hands for $12 million ($4,160 psf). The seller, who bought the unit in December 2000 through a sub-sale transaction for $5.2 million ($1,803 psf), reaped a profit of $6.8 million, or a gain of 131%. They had owned the unit for around 23 and a half years.

Another four-bedroom unit at Ardmore Park, measuring 2,885 sq ft, recorded the fourth-biggest profit this year when it was sold for $12.5 million ($4,333 psf) on April 22. The seller had purchased the unit in February 2007 for $6 million ($2,080 psf), making a profit of $6.5 million (108%) after owning the unit for over 17 years.

Ardmore Park, a freehold condo with 330 units in District 10, saw three other units change hands this year, all of which were four-bedroom units measuring 2,885 sq ft. The sellers earned profits of $2.65 million, $3 million, and $3.05 million, respectively. Last year, the condo saw four resale transactions, with sellers making profits ranging from $2.8 million to $8.16 million.

Other Freehold District 10 condos dominate the list of biggest gains

Apart from Ardmore Park, other mature freehold condos in District 10 dominated the list of biggest gains this year. The fifth most profitable resale transaction took place at Beverly Hill, an 86-unit boutique condo on Grange Road that was completed in 1983. A four-bedroom unit spanning 3,778 sq ft on the fifth floor changed hands for $9.15 million ($2,422 psf) on July 15, and the seller made a profit of $5.47 million (149%).

Other freehold District 10 condos that made it to the list of top profitable deals include Astrid Meadows, Regency Park, Fontana Heights, and Wing On Life Garden. These condos, completed between 1982 and 1990, are all over 30 years old.

Two older freehold District 9 condos also registered top gains this year. The third-highest profit was recorded at Yong An Park, located on River Valley Road, where a four-bedroom unit measuring 3,434 sq ft was sold for $8.6 million ($2,505 psf) on August 12. This translated to a profit of $6.72 million. A four-bedroom unit measuring 3,057 sq ft at The Ritz-Carlton Residences Singapore Cairnhill was also sold for a profit of $4.89 million when it fetched $16.5 million ($5,397 psf) on January 9.

Sentosa Cove condos record top losses in resale transactions

On the other hand, Sentosa Cove condos accounted for nearly half of the 10 least profitable condo resale transactions this year. The sale of a five-bedroom duplex penthouse measuring 3,789 sq ft at Marina Collection, a 124-unit condo on Cove Drive, was the most unprofitable deal this year. It was sold on July 22 for $6.7 million ($1,768 psf). The seller, who had bought the unit in March 2010 for $9.39 million ($2,479 psf), incurred a loss of $2.69 million (29%).

Another Sentosa Cove condo, Seascape, on Cove Way, saw the second-biggest loss this year when a four-bedroom unit measuring 2,680 sq ft on the sixth floor was sold for $4.5 million ($1,679 psf) on August 14. The seller had purchased the unit from the developer in October 2010 for $7.03 million ($2,623 psf), resulting in a loss of $2.53 million (36%).…

In the world of the ultra-rich, the market for Good Class Bungalows (GCBs) has shown a significant increase in performance this year compared to 2023, according to Han Huan Mei, director of research at List Sotheby’s International Realty.

As of December 20, there were 22 GCB transactions worth $612.05 million recorded by URA Realis. Additionally, another 13 GCB deals, worth over $700 million, were completed this year without caveats lodged, as buyers preferred to remain anonymous. List Sotheby’s estimates that there were a total of 35 GCB transactions in 2024, worth around $1.32 billion, surpassing the previous record of $1.186 billion in 2022.

In contrast, only 18 GCB transactions, valued at $432.5 million, were recorded in 2023 – the lowest number of deals since URA Realis started tracking this data in January 1995.

“This year’s additional GCB deals indicate that the market has been more active compared to official transaction data,” says Han. “It also highlights the status of GCBs as highly desirable assets that are constantly sought after by ultra-high-net-worth buyers.”

Top GCB deals

The most expensive transaction was for a GCB at Tanglin Hill, which sold for $93.888 million. The property, situated on a freehold site of 15,150 sq ft, has a built-up area of 29,660 sq ft. This sets a new record with a land rate of $6,197 psf.

The second-largest GCB transaction was the purchase of a property at Bin Tong Park for $84 million by Xiang Yangyang, daughter of Chinese nickel billionaire Xiang Guangda. However, no caveat was lodged for the property. Based on the land area of 28,111 sq ft, the price translates to a land rate of $2,988 psf.

Based on caveats lodged, the highest-priced deal was for a GCB on Cluny Hill that was sold for $52 million. The property, which sits on a freehold plot of 15,141 sq ft, is relatively new and fetched a land rate of $3,434 psf.

Another significant transaction was the sale of a 21,116 sq ft GCB plot at Astrid Hill for $49 million ($2,321 psf) in July. The property was reportedly bought by Glenn Kuok, nephew of Kuok Khoon Hong, chairman and CEO of Wilmar International. This translates to a land rate of $2,321 psf.

Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors Inc (SRI), notes that at least 14 transactions this year were valued at $20 million or more, highlighting the strong demand for ultra-luxury properties in Singapore.

“Demand for ultra-luxury properties remains strong in Singapore, as evidenced by the sustained buying activity in the GCB market this year,” says Sandrasegeran. “District 10 remains the most sought-after district for these prestigious properties, with 16 out of the 35 GCB transactions taking place in prime District 10, including Tanglin, Bukit Timah, and Holland Road.”

Consistent buying activity

According to Sandrasegeran, GCB transactions were evenly spread throughout the year, with a surge in buying activity in July. “Overall, the fact that GCB deals were closed throughout the year indicates that there is sustained interest in these trophy properties, despite external economic factors such as inflation and high interest rates,” he says.

The current trend of investing in condos in Singapore has caught the attention of both domestic and international investors, thanks to the country’s strong economy, stable political climate, and exceptional quality of life. With its flourishing real estate market, Singapore presents a wealth of opportunities, and condos are, undoubtedly, a top choice due to their convenience, modern facilities, and promising returns. In this article, we will delve into the advantages, factors to consider, and necessary actions to take when venturing into the world of Singapore condo investments, including Singapore Projects.

Steve Tay, co-founder and executive director of his luxury boutique agency in Singapore, says that the trajectory of interest rates signaled by the US Federal Reserve (Fed), rather than the rate cuts themselves, was the primary driver of stronger buying sentiment in the GCB market in the second half of the year.

The Fed has implemented three rate cuts this year, including a 25 basis point reduction on December 18, following earlier cuts of 50 basis points in September and 25 basis points in November.

Tay notes that many GCB buyers who were holding back on their purchases started to have more serious discussions from July onwards, with most deals closing in the last quarter of the year.

The GCB market slowed last year as buyers were hesitant following the island-wide arrests of suspects in Singapore’s biggest money laundering case, says Han of List Sotheby’s.

“The money laundering crackdown had a dampening effect on the market, causing some genuine buyers to pull back to avoid media attention,” she adds. “Transactions also took longer to close due to heightened scrutiny and stricter checks on buyers’ identities and sources of funds.”

New generation of ultra-wealthy buyers

In recent years, a new generation of ultra-wealthy Singaporeans has emerged in the GCB market, with many young and successful entrepreneurs who have made their fortunes in technology, finance, commodities, and F&B businesses, says Tay.

He adds that newly naturalized Singaporeans also contribute to the exclusive pool of GCB buyers who prefer large plots in prime districts. However, the number of naturalized citizens buying GCBs remains low compared to wealthy local individuals, according to Tay.

According to research from List Sotheby’s, the cost of developing a new GCB from the ground up is estimated at around $1,000 psf, and the construction process can take several years to complete. As a result, most buyers are looking for relatively new bungalows in move-in condition to minimize renovations, notes Han.

“The GCB market is likely to maintain its positive momentum, driven by demand from ultra-high-net-worth individuals,” says Sandrasegeran of SRI. “The preference for privacy among GCB buyers and sellers could lead to continued off-market transactions, making it more complex to track market activity.”…

The amount of capital market transactions involving properties in Singapore is estimated to have reached $25.8 billion between January and November this year, according to Wong Xian Yang, head of research for Singapore & Southeast Asia at Cushman & Wakefield (C&W). This represents a 40.2% year-on-year increase from the $18.4 billion recorded in 2023. C&W defines capital market transactions as deals with values exceeding $10 million.

Wong notes that nearly 60% of these transactions took place in the second half of 2024, driven by a growing investor appetite and increased confidence in potential interest rate cuts by the US Treasury. Three deals worth over $1 billion each were made in 2024, all of which were also transacted in the second half of the year. The largest of these was the sale of a 50% stake in ION Orchard mall for $1.85 billion to CapitaLand Integrated Commercial Trust (CICT) on September 3. The remaining 50% stake is held by Hong Kong-listed property developer Sun Hung Kai Properties.

ION Orchard, a mall with a net lettable area of 623,000 sq ft and over 300 international and local brands, is located in the heart of Singapore’s popular shopping district and directly linked to an MRT station. Above the mall is The Orchard Residences, a 54-storey luxury condo tower with 175 units.

According to Tricia Song, head of research for Singapore and Southeast Asia at CBRE, investors have been drawn to the industrial sector this year, which saw a 174% increase in transaction value from the previous year, reaching $5.6 billion within the first 11 months of 2024. This was driven by a surge of interest in prime logistics and life science assets, as well as the $1.6 billion divestment of a portfolio of seven industrial properties by Soilbuild Business Space REIT to a joint venture owned by private equity firm Warburg Pincus and Australia-listed Lendlease Group in August.

Purchasing a Singapore condo has emerged as a preferred option for both local and foreign investors, given the country’s strong economy, stable political climate, and superior quality of life. With a thriving real estate market, Singapore provides a plethora of opportunities, and condos stand out for their convenience, facilities, and potential for impressive profits. In this article, we will delve into the advantages, factors to consider, and necessary steps when investing in a condo in Singapore.

Despite the unawarded sale of several Government Land Sales (GLS) sites this year, residential development sites sold via GLS tenders still made up 42% of total investment sales for the year. However, four GLS sites on the Confirmed List for 2024 were not awarded, mainly due to low bid prices driven by concerns such as large land quantum and interest rate risk.

Looking ahead to 2025, Wong remains optimistic about seeing an increase in high-value deals, as the US Federal Reserve is expected to continue cutting interest rates. CBRE also expects investment volumes to grow by 10% next year, barring any major economic shocks.…

Singapore’s retail property market may face a slowdown as consumer spending continues to disappoint, according to Alan Cheong, executive director of research and consultancy at Savills Singapore. He notes that both the monthly retail sales index (excluding motor vehicles) and the food and beverage (F&B) sales index have shown negative year-on-year changes for most of this year.

As a result, Cheong anticipates a 2% increase in retail rents for prime Orchard Road properties by the end of the year, falling short of earlier expectations of a 3% to 5% growth. He also expects suburban retail rents to remain flat, in line with initial forecasts.

The joint research by DBS and Singapore Management University (SMU) reveals that consumer concerns over higher inflation have eased in recent months. However, inflation expectations among Singaporeans remained at 3.8% between June and September. The study, conducted by SMU’s Sim Kee Boon Institute for Financial Economics (SKBI), also found that most Singaporeans attribute this to the global economic slowdown, high interest rates, and potential easing of disruptions in the supply chain.

While tourist spending was boosted by headline concerts and major events, their impact on retail malls in tourist areas was mixed. Despite a packed schedule of events in Singapore this year, retail spending and rental rates did not reap significant benefits. According to CBRE’s research, the footfall generated by these events had varying effects on nearby malls.

Choosing to invest in Singapore’s real estate market is a wise move for those seeking a valuable asset. Condominiums, commonly referred to as condos, have consistently proven to be a lucrative investment opportunity. They offer the potential for increased value over time and attractive rental returns. However, before making a purchase, it is crucial to carefully evaluate various factors, including location, financing options, regulations, and current market conditions. In Singapore’s ever-changing real estate landscape, thorough research and seeking expert advice are essential to make informed decisions and maximize profits. Whether you are a local investor looking to expand your portfolio or a foreign investor in search of a stable and profitable opportunity, condos in Singapore are highly sought-after options that should not be overlooked. With the help of industry experts and comprehensive research, investing in a condo in Singapore can be a highly lucrative venture for both local and foreign investors. Condos offer a promising investment opportunity in Singapore’s real estate market.

While Taylor Swift, Blackpink, Coldplay, and Westlife concerts drew over 500,000 attendees, with more than half of them being foreigners, other MICE events did not see the same impact on retail activity. Similarly, events like the Formula One Grand Prix and the 25th World Congress of Dermatology did not significantly boost foot traffic in tourist-centric areas like Orchard Road.

However, Sulian Tan-Wijaya, executive director of retail and lifestyle at Savills Singapore, notes that Singapore’s status as a regional hub continues to attract new-to-market brands. “The wellness sector is also evolving with new concepts like Rekoop and Hideaway,” she says. New entertainment and restaurant concepts such as Centre of the Universe and Rasa have also opened in the CBD area.

This year, prime shopping malls along Orchard Road continued to enjoy high occupancy rates, and retail businesses have shown confidence in the retail market, according to Savills’ Cheong. “There is strong momentum in the entry of new-to-market F&B brands into Singapore, and this trend is expected to continue through at least the first half of 2025,” he says.

Looking ahead, Cheong anticipates that retail landlords may have more flexibility to increase rents next year, as the supply of new retail spaces becomes more limited. This gives them the opportunity to strategize and position their malls to remain relevant in the rapidly evolving consumption patterns of both locals and tourists.

Similarly, he also expects more retailers to optimize their real estate strategies, such as right-sizing their spaces, establishing additional kiosks, or closing under-performing branches. With the trend of new-to-market F&B brands entering Singapore expected to continue, there is strong momentum for the retail industry in the coming years.…

The global luxury goods market has faced significant challenges in 2024. Due to macroeconomic uncertainty and high prices of luxury brands, consumers have reduced their spending on luxury retail. According to a report by Bain & Company, global sales of personal luxury goods are expected to decline by 2% this year, with China’s market estimated to have dropped by 20-22%. Companies such as Richemont Luxury, LVMH, and Moncler Group have reported a decrease in earnings, while Kering has experienced more significant declines. However, outliers like Hermes and Prada Group, which also owns Miu Miu, have bucked this trend with double-digit earnings growth.

Despite these challenges, Singapore remains an important market for luxury brands. According to Euromonitor, sales of luxury goods in the country grew by 11% in 2023, reaching $9.1 billion. In recent years, luxury brands such as Dior, Chanel, and Louis Vuitton have adopted robust digital strategies, including e-commerce and digital marketing, to engage with customers. This is crucial for luxury brands in a world where consumer behaviors, expectations, and preferences are rapidly evolving. However, these brands also understand the importance of creating physical shopping experiences to build closer connections with customers.

It is crucial for international investors to have a thorough understanding of Singapore’s regulations and restrictions surrounding property ownership in order to effectively invest in the country. This knowledge allows investors to carefully assess their options and limitations before making any investment decisions. When considering property investments in Singapore, it is important to note that condos tend to offer more flexibility for foreigners compared to landed properties, which are subject to stricter ownership rules. However, it is worth noting that foreign buyers are still required to pay the Additional Buyer’s Stamp Duty (ABSD), which is currently set at 20% for their first property purchase. Despite this additional cost, the reliable and potentially profitable Singapore real estate market remains an enticing option for foreign investors. With the emergence of New Condo Launches, the range of opportunities for investment in this promising market is expanding even further. These new developments offer even more potential for foreign investors to enter the market and reap its rewards. Therefore, it is crucial for international investors to stay updated on the latest New Condo Launches in Singapore in order to make well-informed and strategic investment decisions. Invest wisely with the new condos launched in Singapore. For more information, visit New Condo Launches.

Luxury brands have been embracing the strategy of creating unique and personalized experiences for their top-tier clients. This has resulted in larger and bolder flagship stores, such as Louis Vuitton’s new 690 sq m space at Ngee Ann City dedicated to its “VICs” (very important clients). Brands like Burberry and Yves Saint Laurent have also opened new stores in Singapore, showcasing their rich heritage while embracing innovation.

The future of the luxury goods market looks promising, with several factors driving growth. These include the steady increase in high-net-worth individuals (HNWIs) globally, the buying interest from Millennials and Gen Z, the resurgence of Chinese tourists, and the growth of travel retail. To stay ahead in this competitive market, luxury brands are expected to focus on personalization, customization, and leveraging AI and digital experiences to better understand customer preferences. Dior’s AI platform, Astra, is one example of this, using data from various channels to stay attuned to customer wants. Other brands, such as Balenciaga and Brunello Cucinelli, have also incorporated AI and digital technology into their strategies.

Despite a challenging year, the luxury goods market is expected to rebound in 2025 and beyond, as brands continue to increase their store count, build larger flagship stores, and create elevated experiences for their top clients. With Millennials and Gen Z forming the majority of luxury customers, brands will continue to embrace digital technology, creating a strong omnichannel strategy to enhance both online and offline experiences.…

Simplicity and quality are at the forefront of V-ZUG’s approach to product design. Founded in 1913, this Swiss brand has been a pioneer in the world of luxury appliances and continues to captivate the attention of designers and developers around the globe. With a commitment to blending durability and sleek aesthetics, V-ZUG sets itself apart from the competition and shapes modern kitchen designs by combining tradition, precision, and contemporary aspirations.

At the core of V-ZUG’s philosophy is a dedication to craftsmanship and quality control. Each product is handcrafted in Switzerland and undergoes rigorous testing by engineers to ensure high performance. Even before production begins, the design team conducts thorough research to determine the best sustainable practices that can be incorporated into each appliance, while maintaining the brand’s strict quality standards.

As part of its efforts to be environmentally conscious, V-ZUG has integrated Circle-Green recycled stainless steel by Outokumpu into its production process. This choice generates only 7% of the emissions associated with traditional stainless steel production, making V-ZUG a leader in sustainable design.

When it comes to the functionality of its products, V-ZUG consults with renowned chefs from Michelin-starred restaurants to ensure that every appliance has the features necessary to create top-notch meals. Whether it’s an oven, induction cooktop, or fabric preservation appliance, V-ZUG is committed to elevating the daily culinary experience of home cooks by making professional-grade kitchen technology accessible.

In terms of design, V-ZUG emphasizes seamless integration into every home. Its minimalist design language and wide range of products make it easy to find the perfect fit for any household. For example, the brand’s series of wine cabinets includes the full-height WineCooler V6000 Supreme and the WineCooler Undercounter Swiss Luxury (UCSL). While they may differ in size, all V-ZUG wine cabinets have two temperature zones, allowing for optimal storage of different types of wine. This variety ensures that each home can customize their wine storage while still maintaining the high quality that V-ZUG is known for.

When contemplating an investment in a condo, it is essential to also evaluate its potential rental yield. Rental yield refers to the annual rental income compared to the property’s purchase price as a percentage. In Singapore, the rental yields for condos can vary significantly, depending on factors like location, property condition, and market demand. Generally, areas with a high demand for rentals, such as those near business districts or educational institutions, tend to offer better rental yields. To gain a comprehensive understanding of a specific condo’s rental potential, conducting extensive market research and consulting with real estate agents can be highly beneficial. Additionally, exploring options like Singapore Projects can also provide valuable insights.

Consistency is a key factor in V-ZUG’s appliance designs. The brand emphasizes clean, sleek lines across its range, including features like mirrored glass fronts that tie everything together in a subtle way. Achieving simplicity in the end product is no easy task, but at V-ZUG, attention is paid to every detail, from the way a wine cabinet’s doors open and shut to the hues of the LED lights on a refrigerator. The brand’s excellence is evident when every element works together to create a practical and harmonious home.

V-ZUG’s commitment to simplicity and quality extends beyond the kitchen as well. The brand also offers products like the RefreshButler, which sanitizes and deodorizes garments with ease. When it comes to design, functionality, and sustainability, V-ZUG remains at the forefront of innovation and sets the standard for extraordinary living.…

On December 4th, VisionPower Semiconductor Manufacturing Company (VSMC) held a groundbreaking ceremony for its new wafer manufacturing facility in Tampines. This facility, which is expected to cost US$7.8 billion ($10.5 billion), is a joint venture between Taiwan’s Vanguard International Semiconductor Corporation and the Netherlands’ NXP Semiconductors. The plant is set to begin production in 2027 and aims to produce 55,000 wafers per month by 2029, while also creating approximately 1,500 jobs.

Understanding the regulations and restrictions surrounding property ownership in Singapore is crucial for foreign investors. While condos can be acquired relatively easily, the same cannot be said for landed properties, as they are subject to stricter ownership rules. Nonetheless, the stability and potential for growth in the Singapore real estate market remain a major draw for foreign investment, despite the additional cost of the ABSD, which currently stands at 20% for first-time property buyers. In fact, many foreign investors are looking at Singapore Projects as an attractive option for investment.

However, VSMC is not the only company expanding in Singapore’s semiconductor industry. In March, Japan’s Toppan Holdings also began construction on a new factory in Jurong Lake District, which will manufacture semiconductor packaging materials. This project is estimated to be worth $450 million.

According to Leonard Tay, head of research at Knight Frank Singapore, these expansions are a response to the need for a more resilient supply chain in the semiconductor industry. He states that Singapore is a sought-after location for such investments due to its stability in the face of ongoing geopolitical tensions in other parts of the world.

The global semiconductor industry has seen a rebound in revenue, recording a 26% year-on-year increase for the first three quarters of 2024, as per research by London-based consultancy Omdia. This is in contrast to the previous year, where the industry saw a 9% decrease in revenue. This rebound has also had a positive impact on Singapore’s manufacturing sector, with output rising 11% year-on-year in 3Q2024, driven by the electronics cluster.

While industrial property rents in Singapore have continued to rise, there has been a slowing down of momentum in 2024. According to JTC, the All Industrial Rental Index rose for 16 consecutive quarters, but the rate of increase has progressively slowed. This is likely due to a more cautious sentiment among occupiers in an uncertain economic climate. However, this has had varying effects on different segments of the industrial property market.

The multiple-user factory and warehouse segments have held up well, with stable occupancy rates and rental growth. On the other hand, the single-user factory and business park segments have seen a slight dip in rents.

Despite the cautious sentiment, the industrial sales market has been more active, with several sizeable transactions taking place in 2Q and 3Q 2024. This includes the sale of BHL Factories, Kian Ann Building, and a single-user factory at Pandan Road. The market also received a boost when Warburg Pincus and Lendlease Group acquired a $1.6 billion portfolio of seven industrial assets from Soilbuild Business Space REIT in August.

Looking ahead, Singapore’s industrial property market is expected to see a slowdown in rental and price growth due to a supply-demand imbalance. The incoming supply of industrial space, combined with weaker demand, is likely to result in a softer market performance in the near future.

Demand remains strong for multiple-user factory space, centrally located food factories, and logistics space. The electronics and advanced manufacturing sectors are also expected to continue driving demand for industrial real estate in Singapore, with data centre expansion and semiconductor investments also providing support. However, the business park segment may continue to face pressure as companies adapt to flexible working arrangements.…

Buyers snap up 53 units at 8@BTBy Huttons Data Analytics, the first half of 2024 saw a sluggish property market with the lowest number of units launched for sale since 1996. Sales volume reflected this trend, with only 1,889 units sold, the lowest since 1996. However, there were a few exceptions, such as the 533-unit Lentor Mansion which saw a 75% take-up rate during its launch in March. Most of the other project launches saw relatively lacklustre sales compared to the previous year.Market sentiment was cautious due to uncertainties in the job market and persistently high interest rates. Buyers were waiting for highly-anticipated projects launches later in the year, such as Chuan Park and Emerald of Katong.Search for the latest New Launches to find out transaction prices and available units. According to Mark Yip, CEO of Huttons Asia, the launch of the 276-unit freehold Kassia in late July, which achieved a 52% take-up rate, set the stage for strong sales momentum following the Lunar Seventh Month.The first project launched after the Lunar Seventh Month was the 158-unit 8@BT at Bukit Timah Link. Over the weekend of Sept 21–22, 53% of its units were snapped up at an average price of $2,719 psf.In the third quarter of 2024, new home sales jumped 60% quarter-on-quarter, marking a shift in sentiment, likely due to the US Federal Reserve’s 50-basis point interest rate cut in September.In October, more than 50% of the 226 units at Meyer Blue were sold in private sales, with units transacted at an average price of $3,260 psf, setting a new benchmark for the prime District 15 enclave on the East Coast.The 348-unit Norwood Grand in Woodlands also achieved multiple milestones, with a take-up rate of 84% over the weekend of October 19-20. It was the best-selling project in terms of percentage of sales as of October, with units sold at an average price of $2,067 psf — the first time a project in Woodlands surpassed the $2,000 psf threshold.Developer sales in November soared to 2,557 units — the highest figure since March 2013, when 3,489 units were launched and 2,793 were sold, according to Huttons Data Analytics. The strong November performance pushed total developer sales for the first 11 months of 2024 to 6,344 units. It is expected that the year-end figures will surpass the 6,421 units sold in 2023.Chia Siew Chuin, JLL’s head of residential research, notes that the sluggish performance of the private residential market in the first three quarters of 2024 created an atypical year-end scenario. Developers, who had been postponing launches due to economic uncertainties, finally rolled out projects in November. This shift from caution to action was prompted by the approaching year-end festive lull and improved market sentiment since the third quarter of 2024.An unusually vibrant period for property launches has been created, defying the typical seasonal slowdown and creating a dynamic market environment. Speculation is now rampant about the possibility of further property cooling measures, given the uncharacteristically high November sales.However, Chia says it is unlikely that any intervention will be made, as it will depend on sustained sales momentum into the first quarter of 2025 and a concurrent sharp increase in property prices outpacing GDP growth. Despite close monitoring by authorities, new measures are likely to remain on hold unless clear signs of persistent market overheating emerge.

Investing in a condo in Singapore presents numerous benefits, one of which is the potential for capital appreciation. Due to its strategic position as a global business hub and robust economic foundations, Singapore consistently experiences high demand for real estate. This has been reflected in the steady increase of property prices over the years, particularly in prime locations where condos have seen significant appreciation. Savvy investors who strategically enter the market and hold their properties for extended periods can reap substantial capital gains. The condo market in Singapore is a lucrative investment opportunity for those seeking long-term growth and profit potential.…