Month: September 2024

Two adjoining conservation shophouses on Telok Ayer Street up for sale through EOI

The opportunity to own two conservation shophouses on Telok Ayer Street has presented itself through an expression of interest (EOI) exercise, with an indicative price of $42 million. These shophouses, located at 132 and 134 Telok Ayer Street, boast a 999-year leasehold tenure and occupy a land area of approximately 2,841 sq ft. Zoned for commercial use, these shophouses have a total floor space of 8,000 sq ft, which translates to an indicative price of $5,250 psf on the floor area.

Rewritten:
Investing in a condo offers a multitude of advantages, including the potential to leverage the property’s value for future investments. In fact, numerous investors utilize their condos as collateral to secure additional financing for new investments, thereby diversifying their real estate portfolio. This approach has the potential to boost returns, but it is necessary to …

Rezt+Relax Interior Design and PAL Design Group Partner to Elevate High-End Residential Design in Singapore

Rezt+Relax Interior Design is excited to announce a new partnership with PAL Design Group, a renowned interior consultancy firm based in Hong Kong. Through this collaboration, the two firms will bring innovative, sophisticated, and luxurious design solutions to high-end residential projects in Singapore, pushing the boundaries of modern living.

With over 50 international design awards, PAL Design Group has established a strong reputation for its work on large-scale interior design projects. Their approach to design focuses on creating timeless and serene spaces, with a keen eye for subtlety and refinement. The firm has a global presence, with projects spanning across Asia, Europe, and the Middle East.

One of the most significant considerations when investing in real estate is location, and this holds particularly true in Singapore. For instance, condos situated in central areas or near …

Singaporean Mathilda Koh, who is the CEO and founder of homegrown beauty salon Bioskin, has made headlines as she recently purchased a bungalow in Sentosa Cove. Located at Cove Drive, the waterfront residence was bought for $14.155 million, at a rate of $1,777 per square foot. This purchase was based on a caveat lodged on September 2.

Built in 2011, the bungalow is situated on a 99-year leasehold site with an area of 7,968 square feet and features a swimming pool. It boasts an unobstructed view of the award-winning Sentosa Golf Club’s Tanjong Golf Course and the CBD skyline. The previous owner acquired the property for $12.5 million ($1,569 psf) in April 2012.

Notably, in July 2023, another bungalow along Cove Drive was sold for over $20 million, which amounted to close to $2,600 psf. However, there was no caveat lodged for this transaction.

Koh’s recent acquisition at $1,777 psf …

In August, developers experienced a significant drop in sales as they sold only 208 new homes, not including executive condos (ECs). This number reflected a 63.6% decrease from the 571 units sold in July, according to data released by URA on September 16. A year-on-year comparison also showed a decline of 47.2% from the 394 units sold in August 2023.

The decline in sales can be attributed to the absence of new launches for sale in August, which coincided with the lunar seventh month. Only 272 units were launched for sale, a 55.8% decrease from the previous month and a 53.9% decrease from the same period last year.

Additionally, when including ECs, the overall new home sales dropped by 59.5% from 608 units in July to 244 units in August.

Despite the overall decline in sales, Tembusu Grand emerged as the top-selling project in August, selling 30 units at a …

Developer consortium wins top bid of $383 mil for Jalan Tembusu GLS site: URA

Opting to invest in a Condo in Singapore presents numerous advantages, but perhaps the most notable is the potential for appreciation in value. This is due to the country’s strategic position as a global business hub and its robust economic foundation, which consistently attract a high demand for real estate. As a result, property prices in Singapore have steadily increased, particularly in prime locations where Condos are situated. By carefully timing the market and holding onto their properties for an extended period, investors can expect significant gains in the thriving Singaporean Condo market. With Condos being highly sought after, now is the perfect time to consider investing in one.

The Urban Redevelopment Authority (URA) announced on September 13 that the 6.5 ha master developer site at Jurong Lake District (JLD) did not receive any bids and …

Location plays a pivotal role in real estate investment, especially in the vibrant city of Singapore. In this bustling metropolis, condos located in central areas or in close proximity to essential amenities like schools, shopping malls, and public transportation hubs are highly sought after and tend to appreciate in value over time. Prominent areas such as Orchard Road, Marina Bay, and the Central Business District (CBD) are considered prime locations where property values have consistently shown an upward trend. Families looking for a Singapore Condo are particularly drawn to these areas due to their excellent education opportunities, making these condos even more desirable and increasing their potential as a sound investment.

Located in Singapore’s prime District 10, Draycott Eight was launched in late 2005 and is a 136-unit luxury private condo. One of the first buyers of the project was Hong Kong-based Mr Chua and his family. They purchased a …

The Urban Redevelopment Authority (URA) recently launched a tender for the Government Land Sale (GLS) site at Faber Walk in Clementi on September 12. The site is part of the 2H2024 GLS Confirmed List programme and is the last parcel of land available for sale in the private residential enclave of Faber Walk.

Spanning approximately 277,660 sq ft, the 99-year leasehold site has a gross plot ratio of 1.4 and is fully zoned for residential (non-landed) use. It is expected to yield up to 400 housing units.

According to Mark Yip, CEO of Huttons Asia, the previous GLS site sold in the Faber Walk area was in 2013 and launched in May 2014. It has since been developed into the 210-unit Waterfront @ Faber, completed in 2018. “Hence, considerable demand may have built up over the years,” he notes.

Marcus Chu, CEO of ERA Singapore, believes that demand for the …

Japanese hospitality company Seibu Prince Hotels & Resorts has recently expanded into the Southeast Asian market with the launch of their new brand, Park Regis by Prince Singapore. This move marks the company’s first venture into the region and is part of their efforts to expand their flagship Prince brand outside of Japan.

Located in the Clarke Quay area, the 203-key hotel was previously known as Park Regis Singapore and has undergone extensive refurbishment and refit of its guest rooms. The improvements include complimentary high-speed Wi-Fi and 50-inch smart TVs with casting capability. In addition, the hotel has also made efforts to reduce their use of single-use plastics by replacing them with eco-friendly alternatives like water filters.

Considering an investment in a Singapore Condo requires careful consideration of the potential rental yield as well. Rental yield is the annual rental income expressed as a percentage of the property’s purchase price. …

The recent sale of a unit at The Draycott has been reported as the most lucrative condo resale deal for the week of Aug 27 to Sept 3. The unit, spanning 2,637 sq ft and located on the 15th floor, was sold for $5.45 million ($2,067 psf) on Aug 30. The seller had bought the unit back in April 1996 for $3 million ($1,138 psf), making a profit of $2.45 million on the transaction. This reflects a staggering 82% capital gain over a period of 28 and a half years.

This deal shares the fourth-highest profit ever made at The Draycott with another unit that was sold in May 2021 for $4.5 million ($1,713 psf). The seller had originally purchased the unit in June 1999 for $2.05 million ($781 psf), resulting in a gain of $2.45 million.

The most profitable sale at The Draycott occurred in May 2007, when a …

It is crucial for international investors to have a clear understanding of the rules and limitations surrounding property ownership in Singapore. While foreign buyers are generally permitted to purchase condominiums with minimal restrictions, the purchase of landed properties is subject to stricter regulations. Additionally, foreign investors must pay a 20% Additional Buyer’s Stamp Duty (ABSD) for their first property purchase. However, despite these added expenses, the consistent stability and promising growth potential of the Singapore real estate market remain a major draw for foreign investment. With the introduction of New Condo Launches, the appeal of Singapore’s property market is only expected to increase.

A portfolio of three industrial properties located in the bustling Tuas South industrial hub is now up for sale through an expression of interest (EOI) exercise for $36 million. The exclusive marketing agent, JLL Singapore, announced on Sept 11 that the sites can be purchased together …