Month: December 2024

on Sept 24

Grange 1866, a freehold development, has emerged as the top condo in the week of Nov 22 to 29 to experience the highest psf-price. The new record of $3,393 psf was achieved through the sale of a two-bedroom unit for $2.78 million on Nov 27. This 818 sq ft unit on the 14th floor beat the previous record of $3,390 psf set in June last year, when a 764 sq ft unit was transacted for $2.59 million.

Since the start of this year, Grange 1866 has recorded 12 new sale transactions with an average price of $3,181 psf. The most expensive unit sold this year was a two-bedroom, 1,012 sq ft unit on the 16th floor for $3.02 million ($2,989 psf). Currently, 75% of the 60 units in the project have been sold.

Grange 1866 is a freehold development situated on a 20,322 sq ft site on …

The second quarter of 2024 has brought positive news for global real estate returns, marking a potential shift towards a recovery after two years of cumulative losses. The low interest rates in recent years have contributed to a steep rise in real estate values, with global total returns reaching 5.0% quarter-on-quarter (q-o-q) in the fourth quarter of 2021 and 17.8% year-on-year (y-o-y) in the first quarter of 2022 – figures that far surpass long-term averages.

Condo investment in Singapore requires careful consideration of the government’s property cooling measures. Over time, the Singaporean government has implemented several measures to prevent speculation and maintain a steady real estate market. This includes the Additional Buyer’s Stamp Duty (ABSD), a tax that is higher for foreign buyers and those purchasing multiple properties. Although these measures may affect the immediate profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating …

The transaction of a 3,498 sq ft unit at Island View, a freehold condo in Pasir Panjang, was the most profitable condo resale deal during the week of Nov 26 to Dec 3. The unit was sold for $4.8 million ($1,372 psf) on Nov 27, making a gain of $3.5 million for the seller. This represents a capital gain of 269% or an annualised profit of 14.2% after owning it for about 19 years.

This transaction sets a new record for the most profitable deal to have taken place at Island View, beating the previous record profit of $3.19 million from the sale of another 3,498 sq ft unit in February 2022. The previous seller had purchased the unit for $1.9 million in February 2007, making a gain of 258%.

Island View is a boutique condo with 72 units located on Jalan Mat Jambol in District 5’s Pasir Panjang area. …

Singapore-based flexible living platform, Cove, has recently brought on board real estate and hospitality industry expert Ashish Manchharam as a board director.

Manchharam, who successfully founded and built 8M Real Estate into a $1.5 billion portfolio over a period of 10 years, brings a wealth of experience to the team. He then went on to establish Elevate Capital in early 2024, with a focus on lifestyle-driven real estate investments.

In his new role, Manchharam will provide his valuable insights and expertise to Cove in acquiring flexible living assets through partnerships with third-party investors such as real estate funds, institutional investors, and family offices. This appointment is in line with Cove’s strategy to accelerate its growth through an asset acquisition model, in addition to its existing model as a branded flexible living operator and online listing platform for professionals and students.

Since its inception in 2018, Cove has grown its portfolio …

– Tuan Sing Sian’s

The CEO of real estate firm Tuan Sing Holdings, William Liem, has once again increased his stake in the company. Through his entity, Nuri Holdings (S), Liem purchased a total of 1.7 million shares from the open market on Dec 5 and 6. The value of the shares purchased amounted to $447,613.50, and each share was bought at an average price of 25 cents.

When purchasing a condo, it is crucial to factor in the maintenance and management aspects of the property. Most condos have maintenance fees that encompass the maintenance of shared spaces and amenities. Although these fees may increase the overall cost of ownership, they also guarantee that the condo stays in top condition and maintains its value. To ease the burden of regular management tasks, hiring a property management company can transform the investment into a more hands-off experience. Consider checking out Singapore …

Investing in real estate is a strategic decision that requires careful consideration of the location. This is particularly true in Singapore, where the location of a condo can greatly impact its value. Condos that are centrally located or in close proximity to important amenities such as schools, shopping malls, and public transport hubs tend to have a higher appreciation in value. Some prime locations that have consistently shown growth in property values include Orchard Road, Marina Bay, and the Central Business District (CBD). Families are also drawn to condos in these areas due to their proximity to reputable schools and educational institutions, making them even more desirable and increasing their potential for investment. For those looking to invest in Singapore’s real estate market, keeping an eye on new condo launches, such as those listed on Mentorship Online, is essential in order to make well-informed decisions and maximize investment potential.…

The conservation shophouse at 93 Tanjong Pagar Road, with a guide price of $15.5 million, is now seeking interested buyers through an expression of interest (EOI) exercise. The 3½-storey shophouse, sitting on a 1,297 sq ft land with a gross floor area (GFA) of 4,186 sq ft, is available for sale to commercial buyers and comes with F&B approval. Currently, the first and second levels of the 99-year leasehold property are being rented out to a popular Korean barbecue restaurant chain while the upper levels remain vacant. It is conveniently located just a short walk away from the Tanjong Pagar MRT Station and Maxwell MRT Station, making it easily accessible by both the East-West Line and Thomson-East Coast Line. Marketed by PropNex Shophouse Elites, the EOI for this shophouse will close at noon on Jan 20, 2025. Hurry and seize this opportunity now!

It is crucial for prospective overseas investors …

On December 10th, Perennial Holdings and Far East Organization held a press conference to reveal their plans for the future of the former Golden Mile Complex. The development partners presented their vision for the updated conservation building and announced the preview of the commercial units available for purchase.

Dubbed as Golden Mile Singapore, the entire development will be Singapore’s first large-scale strata-titled conserved building that retains its iconic identity as a tropical linear urban complex with brutalist architecture. Rebranded as The Golden Mile, the conserved building will now function as a commercial development, featuring 156 Grade A office units, 19 medical suites, a two-storey retail component spanning 123,388 sq ft, and a public access architecture centre.

The Golden Mile Singapore will be available for sale this month, however, the pricing for the medical suites and office units has not been released yet. In addition to the existing building, a new …