Month: September 2024

Amber 45 has emerged as the top performer among condos that achieved record psf prices between Aug 30 and Sept 8. The freehold development recorded a new high of $2,829 psf from the sale of a 1,184 sq ft, three-bedroom unit on the sixth floor for $3.35 million on Sept 2.This is the first time a unit at Amber 45 has crossed the $2,800 psf mark, surpassing the previous record of $2,791 psf set last December when a 700 sq ft, two-bedroom unit on the 19th floor was sold for about $1.95 million.Amber 45 was completed in 2021 and is a 139-unit development located at 45 Amber Road in District 15. (Photo: Samuel Isaac Chua / EdgeProp Singapore)According to URA caveats, the seller of the three-bedroom apartment had purchased the unit from the developer in May 2018 for about $2.72 million. This means the seller made a profit of about …

The residential site at Media Circle under the government land sales (GLS) programme came to a close on September 19 with only one bidder. The consortium, led by Singapore-listed Frasers Property, along with Padawan MC and Empire One North Property, submitted the sole bid of $120.09 million, translating to $461 per square foot per plot ratio (psf ppr).

Located in District 5’s one-north area, the 62,046 square foot site is earmarked for long-stay serviced apartments with commercial use on the first storey. Its maximum gross floor area stands at 260,605 square feet, and the 60-year leasehold plot is expected to generate 520 units.

Assessing the potential rental yield is a crucial aspect to consider when contemplating a condo investment. This is determined by the annual rental income in relation to the property’s purchase price. In Singapore, the rental yields for condos can vary significantly depending on factors like location, property …

The tender for a mixed-use commercial and residential site at Tampines Street 94, under the government land sales (GLS) program, was closed on September 19 with six bids. The highest offer of $668.28 million, or $1,004 per square foot per plot ratio (psf ppr), was submitted by a joint venture between Hoi Hup Realty and Sunway Developments.

The 99-year leasehold plot covers an area of 252,989 square feet and has a maximum gross floor area of 665,366 square feet. According to the Urban Redevelopment Authority (URA), it has the potential to yield around 585 residential units.

The top bid of $1,004 psf ppr is only 1.9% higher than the second highest bid of $985 psf ppr, which was submitted by Sing Holdings Residential.Read also: Frasers Property-led JV bids $461 psf ppr for Media Circle long-stay serviced apartments siteThe Tampines Street 94 site has received the most number of bids for …

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The Land Transport Authority (LTA) has recently announced that it is in the process of developing an AI chatbot to assist developers and appointed contractors in adhering to regulatory requirements. This was revealed by Minister of Transport Chee Hong Tat at the mid-autumn lunch of the Real Estate Developers’ Association of Singapore (REDAS) on September 17, where Chee was the guest of honour.

The government has been continuously reviewing existing rules and streamlining procedures for road and building works approvals. As part of this effort, the AI chatbot is expected to help industry professionals verify LTA regulatory requirements for their development proposals, eliminating the need to manually search through online publications. Chee explained that the chatbot will be capable of providing tailored advice to developers and contractors as they develop their proposals. Currently, LTA is engaging with the industry through the …

A freehold two-storey shophouse on 221 Rangoon Road is now available for purchase through an expression of interest (EOI) exercise. The shophouse, occupying a land area of 2,145 sq ft and a total built-up area of 3,347 sq ft, is being marketed by Brilliance Capital, with a guide price of $8.88 million or $2,653 psf on the built-up area.

According to Sammi Lim, founder and executive director of Brilliance Capital, the property is zoned for residential use with a gross plot ratio of 3.0 under the 2019 Master Plan, making it an attractive investment opportunity. The ground floor of the property is currently tenanted by a restaurant, while the upper floor is leased out for residential use, providing immediate rental income for future investors.

Lim expects strong interest from co-living operators, boutique developers, and family offices seeking a freehold asset. The shophouse is conveniently located within a 10-minute walk to …

During the week of Sept 3 to 10, the most profitable resale transaction at a condo in Singapore was a three-bedroom unit at Botanic Gardens View. The 1,755 square feet unit on the sixth floor was sold for $4.13 million, or $2,353 per square foot, on Sept 9. The seller had purchased the unit for $862,000, or $491 per square foot, in July 1998, making a profit of $3.27 million, or a whopping 379%, after owning the unit for approximately 26 years. This sale represents the most lucrative resale deal ever recorded at Botanic Gardens View, surpassing the previous record of $3.14 million from the sale of a 1,615-square-foot unit for $4.07 million, or $2,521 per square foot, in August 2019. That particular unit was acquired in September 2001 for approximately $930,000, or $576 per square foot.

This freehold condo at Taman Serasi, off Cluny Road in prime District 10, …

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Investing in a condo has several advantages, one of which is the potential to leverage the value of the property for other investments. In fact, many investors opt to use their condos as collateral to secure additional financing for new ventures, allowing them to grow their real estate portfolio. However, it’s important to remember that this strategy can come with risks, and it’s essential to have a solid financial plan in place. Furthermore, it’s wise to consider the potential impact of market fluctuations on your investments. With the numerous Singapore Projects available, condo investment can be a lucrative opportunity for investors to expand their portfolio and maximize returns.

Public housing to remain “strong pillar” of housing landscape: Wongwith good connectivity and amenities, this four-room HDB flat at 590B Ang Mo Kio Street 51 was recently transacted for a record-breaking price of $1.08 million ($1,079 psf). Completed in 2019, the …

Sultan Plaza, a commercial strata retail space located at 100 Jalan Sultan off Beach Road, has recently been put up for sale through Expression of Interest with a guide price of $39 million. This translates to $1,260 per square foot for a total strata area of 30,946 square feet. With a net leasable area of around 17,000 square feet, excluding the void space of 14,000 square feet, the 99-year leasehold asset comprises 211 commercial units and 33 offices, making a total of 244 strata lots spread across nine storeys. The property, which started its lease in May 1978, has a remaining lease term of approximately 46 years.

The development is exclusively zoned for commercial use and boasts of large single-floor plates with a rare public entertainment license, setting it apart from other commercial buildings. This uniqueness presents investors with a valuable opportunity as established tenants can easily lease the large …

There is a resurgence occurring in the esteemed residential area of Gilstead Road, Gentle Road, and Buckley Road, situated just off Newton Road in the prime District 11. According to Brenda Zee, senior executive group division director at ERA Realty Network, the neighborhood used to consist mainly of bungalows and was home to many of Singapore’s elite. However, over the years, a number of these bungalows have been sold to buyers seeking to capitalize on the opportunity to redevelop them into semi-detached homes, strata-titled landed housing projects, or low-rise condominiums. Some noteworthy examples include Buckley Classique, Gilstead Two, and Villas @ Gilstead.

The most significant transaction in the area was the sale of two adjacent freehold bungalows at 32 and 34 Gilstead Road, which had a combined site area of 43,458 sq ft and were fetching $70 million ($1,611 psf). This deal took place in December 2021, with Kheng Leong …

Singapore’s urban scenery is characterized by towering skyscrapers and advanced infrastructure. Condominiums, strategically situated in sought-after locations, offer the perfect combination of opulence and practicality, making them desirable to both locals and foreigners. These residential complexes are equipped with various facilities including swimming pools, fitness centers, and security services, elevating the standard of living and making them all the more appealing to potential renters and purchasers. For investors, these added amenities equate to higher rental returns and appreciation in property value in the long run. With the addition of Singapore Condo, this city’s urban landscape truly shines with its impressive and modern structures.

EdgeProp Singapore recently reported that the sixth floor of Tong Building located on Orchard Road was sold for a record-breaking $31.33 million, equivalent to $4,562 per square foot, based on a Sept 3 caveat. This deal was facilitated by Yap Hui Yee, the executive director of …