Novaortografia Condo

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.…

The recent sale of a three-bedroom penthouse at Orchid Mansion in District 15 has been the talk of the town. The transaction took place on Dec 31, 2024, and resulted in a whopping profit of $2.58 million (112%). This makes it the most profitable resale transaction in the area over the past week, from Dec 31, 2024, to Jan 7, 2025.The penthouse unit, located on the 21st floor of the freehold development on Amber Road, spans 2,842 sq ft and was sold for $4.88 million, translating to $1,717 per square foot. It was previously purchased in March 2009 for $2.3 million, which works out to $809 per square foot. This means that the lucky seller has made an annualized profit of 4.9% over a period of almost 16 years.This sale also marks it as the most profitable resale transaction in Orchid Mansion to date, surpassing the previous record of $1.15 million (72.6%) set by the sale of a 1,507 sq ft three-bedroom unit on the seventh floor for $2.73 million ($1,812 per square foot) in July 2022. The buyer had bought the unit for $1.58 million ($1,050 per square foot) in June 2007.However, the penthouse was just one of the stars of the week in the resale market. The second most profitable transaction occurred at Villa Marina when a three-bedroom unit on the ground floor was sold for $2.35 million ($1,446 per square foot) on Jan 3. This represents a profit of $1.72 million (273%) for the seller, who had purchased it for just $630,500 ($388 per square foot) in September 2006. The annualized profit for this transaction stands at an impressive 7.6% over a period of 18 years.In addition, this sale also set a new record for the most profitable transaction at Villa Marina, breaking the previous record of $1.58 million (219%) set by a three-bedroom unit on the fourth floor, which was sold for $2.3 million ($1,200 per square foot) on July 16 last year. The unit was previously bought for $720,416 ($376 per square foot) in November 1998.Villa Marina is a 99-year leasehold development located at Jalan Sempadan in District 15. Completed in 1999, the development features a total of 27 low-rise residential blocks with a mix of one- to four-bedroom units ranging from 1,087 sq ft to 2,314 sq ft. The site, which spans 460,685 sq ft, is adjacent to the Masjid Kampong Siglap mosque and is conveniently situated near Siglap MRT station on the Thomson-East Coast Line and East Coast Park. Families with young children can also take advantage of the various primary schools around the area, such as Bedok Green Primary School, CHIJ (Katong) Primary, Ngee Ann Primary School, St Stephen’s School and Tao Nan School.While the week may have seen some excellent resale transactions, it also saw its fair share of unprofitable ones. The most unprofitable transaction of the week occurred at Marina Bay Residences, where the sale of a two-bedroom unit on the 17th floor resulted in a loss of $386,000 (16%) for the seller. The 1,130 sq ft unit was sold for $2.1 million ($1,858 per square foot), but had been purchased for $2.49 million ($2,200 per square foot) in November 2007. This translates to an annualized loss of 1% over 17 years.Last year, Marina Bay Residences saw a total of 25 resale transactions, with 13 of them resulting in losses ranging from $43,600 to $1.25 million. The most significant loss was recorded on March 22, 2024, when a 1,227 sq ft unit was sold for $2.8 million ($2,282 per square foot).The average resale price at Marina Bay Residences in December was $2,242 per square foot, which is higher than the average prices at other developments in the area such as The Sail @ Marina Bay ($2,052 per square foot), Marina Bay Suites ($1,917 per square foot) and Marina One Residences ($2,133 per square foot).Marina Bay Residences, a 428-unit development on Marina Boulevard, is one of two 99-year leasehold luxury condos within Marina Bay Financial Centre (MBFC). The development underwent an extensive $5 million revamp from January 2022 to September 2023, which saw upgrades to various facilities and common spaces throughout the 15-year-old condo. The mixed-use MBFC development also comprises three Grade-A office towers, Marina Bay Residences and the 221-unit Marina Bay Suites.

Investing in the Singapore real estate market as a foreigner requires a thorough understanding of the government regulations and limitations on property ownership. While condos are generally more accessible for foreign investors, there are stricter rules in place for purchasing landed properties. Additionally, foreign buyers must be prepared for an Additional Buyer’s Stamp Duty (ABSD) of 20% on their first property purchase. Despite this extra cost, the consistent stability and potential for growth in the Singapore real estate market remain a strong draw for foreign investors. Therefore, condos continue to be a popular choice for foreign buyers looking to invest in Singapore’s property market.…

City Developments Limited (CDL) had divested assets worth over $600 million last year as part of its capital recycling strategy, with more deals in the pipeline.

However, this amount fell short of the company’s target of $1 billion, which was mentioned in early 2024, due to a decline in the volume of deals across various markets and asset classes.

Among the completed divestments were the sale of Ransome’s Wharf site in London, the 8-storey industrial building Cideco Industrial Complex in Singapore, and several strata units at Citilink Warehouse Complex, Cititech Industrial Building, Fortune Centre and Sunshine Plaza in Singapore.

The latest project to be divested is Hong Leong City Centre (HLCC), a mixed-use development in Suzhou, which is under contract and expected to be completed this quarter.

According to CDL’s group CEO Sherman Kwek, these divestments reflect the company’s focus on accelerating its capital recycling initiatives. Despite challenging market conditions, CDL has managed to maintain momentum and will continue to push ahead with its divestment plans. Kwek also stated that the company aims to optimize its capital management and align its portfolio with its strategic objectives to maximize shareholder value.

The limited amount of land in Singapore has greatly influenced the soaring popularity of condos. With a small island and growing population, the availability of land is scarce. As a result, the government has put in place stringent regulations for land use, leading to a competitive real estate industry where property values consistently climb. This has made the prospect of investing in Singapore Condos highly lucrative, with the potential for significant capital gains. Singapore Condos have become a sought-after option in the real estate market.

As of Jan 16, CDL shares closed at $5.05, a decrease of 0.2% for the day and a decrease of 20.97% over the past year.…

The 11 Whitley Road bungalow, a two-storey freehold property, has been listed for sale through tender with a guide price of $31.88 million. The expansive land area of 15,276.27 sq ft, with a prime elevated position and freehold tenure, makes this a highly sought-after investment opportunity. This translates to a guide price of $2,087 psf on the land area.

Originally built in 2016, the bungalow has undergone a recent refurbishment and a rear extension, providing ample space for a luxurious and comfortable living experience. The house boasts five bedrooms, three of which have en suite bathrooms, along with two living rooms, two dining rooms, a large well-equipped kitchen, and a helper’s room.

According to Aric Lim, associate district director of Huttons Asia, which is the exclusive marketing agent for the property, the land plot has the potential for subdivision and redevelopment into eight terraced houses. Each site would range from 1,614 sq ft to 2,389 sq ft, and the gross floor area (GFA) could reach up to 21,528 sq ft, subject to the payment of land betterment charges.

Lee Sze Teck, senior director of data analytics at Huttons Asia, notes that this plot of land is possibly the largest along Whitley Road and is situated in a highly sought-after area. He also adds that the asking price of $2,087 psf based on land is competitive compared to recent transactions of new semi-detached houses along Whitley Road, which have been sold at more than $3,000 psf.

The prime location of the property is an added advantage, being only 700m away from Novena MRT Station and in close proximity to shopping malls like Velocity at Novena Square, Square 2, and United Square, as well as Zhongshan Park.

When purchasing a condo, it is crucial to take into account the maintenance and management of the property. This is because condos usually come with maintenance fees, which cover the upkeep of shared spaces and amenities. Although these fees may increase the overall cost of owning a condo, they also guarantee that the property remains well-maintained and retains its value over time. For a more hands-off approach, investors can enlist the services of a property management company to handle the day-to-day operations of their condos. Keep in mind that staying updated on new condo launches is also important when making investment decisions.

The deadline for the tender of 11 Whitley Road is on February 12.…

Guoco Midtown is getting a green boost, with property developer GuocoLand securing two green facilities from DBS Bank and Oversea-Chinese Banking Corporation (OCBC). The first is a $1.135 billion green facility for the refinancing of Guoco Midtown, while the second is a $105 million green facility for the refinancing of Midtown Bay. These green facilities have been raised under GuocoLand’s Green Finance Framework.

According to GuocoLand, the $1.135 billion green facility is its largest to date. The company has also secured a total of about $5 billion in green financing, including facilities for Guoco Tower and other developments such as Lentor Mansion, Lentor Modern, Midtown Modern, and the upcoming Upper Thomson Road Development.

The Green Finance Framework is part of GuocoLand’s commitment to creating sustainable spaces that balance economic, environmental, and social factors. Andrew Chew, Group CFO of GuocoLand, says, “This latest refinancing activity allows us to optimise our capital structure while staying true to our commitment to creating thoughtfully designed spaces.”

In addition, Guoco Midtown has been making waves in the industry, with notable developments such as the Porsche Singapore Studio and Publicis Groupe leasing 55,000 sq ft of office space at the tower. With these new green facilities in place, Guoco Midtown is set to further solidify its position as a leading sustainable development in Singapore.

Shares in GuocoLand closed flat at $1.45 on Jan 15.

Understanding the regulations and restrictions surrounding property ownership in Singapore is crucial for foreign investors. While foreigners can typically purchase condos with relative ease, stricter rules apply to the ownership of landed properties. Additionally, foreign buyers must pay a 20% Additional Buyer Stamp Duty (ABSD) for their initial property purchase. Despite these added expenses, the stability and growth potential of the Singapore real estate market remain highly appealing to foreign investors. In fact, many continue to invest in Singapore Projects due to its promising market conditions.…

The freehold mixed-use development Roxy Square in Katong is set to be relaunched for collective sale, according to a press release by marketing agent JLL.

Located in the popular Katong district, Roxy Square comprises 296 shops, 26 apartments, and the 576-room Grand Mercure Roxy Hotel. It was first launched for tender in July 2019 with a minimum price of $1.25 billion, but the tender closed on Sept 26 with no successful bids.

But now, owners of the development are in the process of signing a supplemental agreement to lower the collective sale price by 10.8% to $1.115 billion, according to JLL. This proposed lower price would require at least 80% of the owners’ support to take effect. Currently, over 70% of owners are in favour of the reduced price.

Under this new price, the unit land rate is expected to be $1,852 psf per plot ratio (ppr), including a Land Betterment Charge (LBC) at the gross plot ratio of about 3.86. If an additional 10% bonus gross floor area (GFA) for the residential component and the LBC are factored in, the land rate will be $1,804 psf ppr, says JLL.

Investing in a condo requires careful consideration of not just the property itself, but also its maintenance and management. Unlike owning a traditional house, condos often come with maintenance fees that cover the upkeep of common areas and facilities. While these fees may increase the overall cost of ownership, they also ensure that the condo remains in excellent condition and maintains its value. To ease the burden of day-to-day management, investors may choose to hire a property management company, turning their condo into a more passive investment.

JLL Singapore’s executive director of capital markets, Tan Hong Boon, says that the private residential market in Katong has strong underlying support, with recent launches like Meyer Blue and Emerald of Katong showing impressive sales and boosting developers’ confidence in Roxy Square’s potential.

He adds that the development’s appeal is also enhanced by its location next to Marine Parade MRT Station (Thomson-East Coast Line), with a direct underground connection, as well as its freehold tenure, established and well-loved heritage locale, and excellent connectivity to amenities.

Completed in 1996, Roxy Square has a gross floor area (GFA) of 668,000 sq ft. The 2019 Master Plan partially zoned the development for commercial and residential use, with a gross plot ratio of 3.0 along East Coast Road. The portion of the development that fronts Marine Parade Road is zoned for hotel use.

According to recent planning advice from URA, the entire Roxy Square site can be rezoned for commercial and residential use and be redeveloped into a high-rise mixed-use development with a height of up to 75m.

Redevelopment of the site could potentially yield over 350 residential units, approximately 80,000 sq ft of retail and F&B space, and an additional 172,000 sq ft for office, hotel, or other commercial uses, says JLL.

The development also offers easy accessibility to East Coast Parkway (ECP) and Nicoll Highway and forms part of the Round-Island Route and Park Connector Network.

Tan believes that the proposed reduction in reserve price, if supported by the majority owners, will enhance the site’s appeal, especially considering the area’s consistent demand for quality residences. This sale aims to thoughtfully shape a key part of Singapore’s East Coast for the future.

The tender for Roxy Square will close on Feb 18 at 3pm. Interested buyers can check out the latest listings for Roxy Square properties on Ask Buddy.…

: http://bit.ly/2V3VZWm

The Arcady at Boon Keng, a 172-unit freehold condominium, will become a landmark private residence in the heart of Boon Keng when it is completed in 2027. Its modern architecture and lush greenery along Serangoon Road will set it apart as a standout condominium in the neighbourhood.

The trusted local developers KSH Holdings, SLB Development, and H10 Holdings are working together on the project, along with award-winning architectural firm Park + Associates. This collaboration aims to create a distinguished residence that will appeal to discerning buyers.

Since its launch for sale in January, The Arcady at Boon Keng has attracted many investors and local buyers. The efficiently designed unit layout of the one-bedroom plus study units and two-bedroom units resonated with investors, while families appreciated the spacious units and family-friendly amenities.

This development presents a rare opportunity for buyers to invest in an affordable freehold property in a city-fringe neighbourhood. It is among only a handful of new freehold projects launching this year.

Creating an Urban Oasis

The developers and designers of The Arcady at Boon Keng have made a deliberate effort to envision the project as an urban oasis. Its bold architectural form is cleverly integrated with a curated landscape design, offering residents a rare pocket of tranquil luxury in the bustling city fringe.

Crafted by award-winning architects at Park + Associates and landscape architects Ecoplan Asia, the development boasts a tiered design, with a trail leading from the Grand Arrival to the ground floor landscape deck, unique to this project. This multi-layered design maximizes the available space for lush greenery and combines what would typically be three-storeys worth of facilities into just two floors at the base of the tower. This efficient use of space can also be seen in other areas with abundant facilities, such as the 14th floor and the rooftop terrace.

Plenty of amenities for all

The Arcady at Boon Keng offers a diverse range of amenities, catering to the needs and lifestyles of all residents. Parents can relax at the Social Deck while their little ones play in the Kids Playground adjacent to them. Families can enjoy a fun weekend together at the Family Deck, beside the Splash Patio and Family Pool.

Water facilities at the development include an infinity pool, spa pool, and family pool, all overlooked by the facilities at the second-storey Sky Terrace. Access to this terrace is just a few steps away, making it perfect for an indoor retreat. A dedicated kids’ zone, complete with a Party Deck and Kids Club, will keep the children entertained. Meanwhile, parents can unwind at the Chill Out Lounge, which spills out from the Botanic Club.

Residents can also host guests at the Arcady Club on the 14th floor, where they can hire a private chef to create a refined alfresco dining experience while enjoying a spectacular view. The rooftop features a community garden, where residents can grow fresh produce for their meals, providing a convenient source of organic ingredients.

It is uncommon to find a single-tower condo in Singapore, particularly in the Boon Keng neighbourhood, that offers both outdoor and indoor facilities to cater to residents’ diverse needs and lifestyles. With 47 condo facilities spanning 4,000 sq m, each of the 172 households at The Arcady at Boon Keng will find their pocket of excitement.

Spectacular scenery in the heart of Boon Keng

The residential tower and the orientation of the units have been thoughtfully considered to maximize views. Units are tilted away from the main road, significantly reducing traffic noise. Higher floors will have stunning views of the Kallang River, while the south-facing units will enjoy views of Marina Bay.

Unit layout designed for families

The layout of each unit has been efficiently designed to cater to families. Master bedrooms in all unit types fit a king-sized bed, while common bedrooms comfortably accommodate a queen-sized bed.

The development has seen steady sales of its larger units, which span from three-bedroom units of 969 sq ft to four-bedroom units of 1,410 sq ft. There are also two penthouses measuring 2,433 sq ft and 2,583 sq ft. Families with school-going children and couples looking for a spacious and conveniently located condo with family-friendly amenities will find their ideal home at The Arcady at Boon Keng. The condo is near many schools, including Bendemeer Primary School, Bendemeer Secondary School, St Andrew’s Junior School, and Hong Wen School.

Surrounded by amenities

The Arcady at Boon Keng is situated in a well-established neighbourhood, close to many amenities. Nearby malls include Woodleigh Mall at Bidadari Park Drive and Bendemeer Mall along Bendemeer Road.

“The Arcady at Boon Keng’s convenient location and connectivity are major draws for buyers,” says Ismail Gafoor, CEO of PropNex Realty, one of the project’s marketing agents. The Boon Keng MRT Station on the North-East Line is about six to seven minutes’ walk from the project, offering residents a relatively short commute to the city. Dhoby Ghaut MRT Interchange Station, which links the North-East Line, North-South Line and Circle Line, is just three stops from Boon Keng MRT Station. “We’ve observed that many homebuyers today prefer projects within walking distance to an MRT station, as convenience is highly valued in today’s busy lifestyle,” adds Gafoor.

Mark Yip, CEO of Huttons Asia, agrees that The Arcady at Boon Keng presents a rare opportunity as a freehold property in a central location, with easy access to major expressways such as the CTE and PIE. The development will also benefit from its proximity to the rejuvenated Kallang precinct. This area will see new sports and leisure facilities developed as part of the Kallang Alive Masterplan, which was announced during Prime Minister Lawrence Wong’s inaugural National Day Rally this year. The masterplan aims to bring together various sporting associations and the Singapore Sports School into one integrated precinct, supported by state-of-the-art facilities and a new 12,000-seat stadium.

An affordable freehold option

Since its launch in January 2024, all one-bedroom plus study units have been sold, and close to 90% of the two-bedroom units have been snapped up. With an average selling price of approximately $2,570 psf, its freehold tenure and potential for relatively higher capital appreciation compared to new 99-year leasehold projects make The Arcady at Boon Keng a compelling option for buyers and investors, given its competitive pricing.

“The Arcady at Boon Keng is attractively priced compared to its location near the city and the MRT station,” says Hutton’s Yip. PropNex’s Gafoor agrees, adding: “The average transacted price of $2,570 psf for The Arcady at Boon Keng is lower than the overall average unit price of about $2,840 psf for new freehold, non-landed private homes in the RCR in 2024. It is also lower than the average transacted unit price of new 99-year leasehold projects in the RCR, which is approximately $2,600 psf. Overall, we believe that The Arcady at Boon Keng ticks all the boxes for homebuyers today. The project is well-located in a mature neighbourhood in the city fringe, has excellent connectivity and easy access to the PIE, and offers freehold tenure, making it ideal for legacy planning and wealth preservation.”

“With the limited number of new home launches in the area, we expect HDB upgraders to be drawn to The Arcady at Boon Keng,” says Marcus Chu, CEO of ERA. “The nearly 1,400 upcoming MOP units from the Bidadari HDB estate will also expand the pool of potential buyers for The Arcady at Boon Keng.”

Potential buyers interested in viewing the sales gallery, located beside City Square Mall, can contact the developer’s appointed marketing agencies or visit their website.

.

Choosing a Condo in Singapore provides numerous advantages, with one of the most notable being the possibility for substantial capital growth. This is primarily due to its prime location as a well-known global business hub and its robust economic stability, making real estate highly coveted. As a result, property values have consistently risen in Singapore, especially in desirable areas where Condos are in high demand. For smart investors, timing is crucial as purchasing a Condo at the right moment and holding onto it for a significant period can lead to significant financial gains. Furthermore, with the increasing popularity of Condos in Singapore, the potential for future appreciation is even more promising. Therefore, deciding to invest in a Condo is a prudent choice for individuals seeking to accumulate wealth and own a valuable asset in Singapore’s flourishing real estate market.…

A collection of strata retail units in the desirable location of Lucky Plaza is currently on the market for a total of $52.6 million, with Savills Singapore serving as the marketing agent. Lucky Plaza, a popular mixed-use development situated on Orchard Road, features a residential tower and a six-storey mall including a basement.

The portfolio being offered for sale consists of 14 retail units spanning across the basement and first two levels of the mall. The sizes of these units vary, ranging from 118 to 3,046 sq ft. Together, they make up a total of 7,266 sq ft of strata area.

According to Savills Singapore, one of the highlights of this offering is the food court, which occupies seven adjacent strata units and covers a total of 3,046 sq ft, housing 11 stalls. The remaining retail units are currently tenanted by a diverse mix of businesses including a pub, retail shops, beauty service providers, and a maid agency.

Read also: Flagship stores grow bigger and bolder as luxury brands target millennials and Gen Z

Sophia Lim, director of investment sales and capital markets at Savills Singapore, believes that the retail units will benefit from high foot traffic due to their prime location within Lucky Plaza. “The basement food court, especially, enjoys a consistently strong crowd daily,” she adds.

The guide price for the food court is set at $25.43 million, while the entire portfolio is available for an asking price of $52.6 million. Individual strata retail units are also up for sale, with prices starting from $1.1 million. Both foreigners and companies are eligible to make a purchase, and no additional buyer’s or seller’s stamp duty will be applied.

Lim notes that prime freehold strata retail assets are in high demand among investors due to their limited supply and URA’s regulations prohibiting further strata subdivision of commercial properties along Orchard Road. She also expects the planned revitalisation of the Orchard precinct by URA to bring further upside for Lucky Plaza in terms of rental growth and capital appreciation.

Check out the latest listings for Lucky Plaza properties

The limited land availability in Singapore is a major factor contributing to the high demand for condos in the country. As a small island with a growing population, Singapore is facing a scarcity of land for development. This has resulted in strict land use regulations and a cutthroat real estate market where property prices are continuously on the rise. Hence, investing in real estate, specifically in condos, has become a profitable opportunity with the potential for significant appreciation in value. In fact, the market is further fueled by the constant influx of new condo launches, making the market even more competitive.

Ask Buddy

Compare the price trend of condo new sale vs. EC new sale

Condo projects with the most profitable transactions in District 9

Total number of units in Lucky Plaza

Condo projects with the most unprofitable transactions in District 9

Generate a price trend graph for resale condos in District 9

Compare the price trend of condo new sale vs. EC new sale

Condo projects with the most profitable transactions in District 9

Total number of units in Lucky Plaza

Condo projects with the most unprofitable transactions in District 9

Generate a price trend graph for resale condos in District 9…