Author: mentorshiponline

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 …

Accor, a renowned global hospitality brand, has recently opened its newest property, Novotel Nara, in Nara, Japan. The hotel boasts 264 luxurious rooms and is conveniently located just an eight-minute walk from Shin-Omiya Station and a short five-minute cab ride from Nara Station. Guests can easily visit popular attractions such as the Todai-ji Temple and Kasuga Taisha Shrine, both of which are UNESCO World Heritage sites. Nara is also just a short train ride away from Kyoto and Osaka, making it an ideal location for tourists.

The hotel offers various amenities, including a rooftop terrace on the eighth floor, a cozy lounge area, and an all-day dining restaurant. For business travelers, there are conference facilities, two banquet rooms, and a fitness center. The hotel also features a public bath and a wellness lounge, providing guests with a relaxing and rejuvenating experience.

General Manager Makoto Kaita warmly welcomes guests to Novotel …

Research conducted by Savills has revealed that Singapore has secured the fourth spot among Asia Pacific (Apac) cities in terms of leasing activity in the legal sector for the first half of 2024. The top three positions were taken by Shanghai, Beijing, and Hong Kong, respectively.

Ashley Swan, the executive director of commercial at Savills Singapore, stated that legal firms in Singapore have been fairly active in a stable leasing market. Some of these firms have taken on new premises with modernized ways of working in order to attract and retain top talent.

Investing in a condominium in Singapore has emerged as a favored option for both local and foreign investors, given the country’s thriving economy, political stability, and exceptional quality of life. The real estate market in Singapore presents a plethora of potential opportunities, with condos standing out for their convenient location, luxurious amenities, and promising returns. In fact, …

When purchasing a Singapore condo, it is crucial to take into account the maintenance and management of the property. Condominiums usually come with maintenance fees that cover the upkeep of communal areas and amenities. While these fees may increase the overall cost of ownership, they also guarantee that the property is well-maintained and retains its value. To make the investment more passive, hiring a property management company can assist investors in managing the day-to-day operations of their Singapore condo.

A double-storey HDB shophouse situated at Block 177 Toa Payoh Central has been made available for sale through an expression of interest (EOI) exercise with a guide price of $5.88 million. The shophouse is a corner unit, boasting a double frontage with a leasehold tenure of 78 years, and 46 years remaining. The ground-floor commercial unit measures around 635 square feet while the residential unit on the upper floor …

The entire sixth floor of the Tong Building on Orchard Road has recently been sold for a whopping $31.33 million, based on a caveat filed on September 3rd. This sale marks the highest price per square foot (psf) for a prime district office space to date, with a unit price of $4,562 psf. The deal was brokered by Yap Hui Yee, executive director of investment sales and capital markets at Savills Singapore.

Tong Building is a freehold, 19-storey strata office building located at the intersection of Orchard Road and Mount Elizabeth. Built in 1978 by TG Development, it boasts a prime location next to Paragon shopping mall and the Mount Elizabeth Hospital and Medical Centre.

Investing in a condo not only has its perks, but it also allows investors to leverage its value for other investments. Using their condo as collateral, many investors secure more financing to expand their real …

“A record-breaking sale of an entire floor at Tong Building on Orchard Road took place on September 3, with the total purchase price reaching $31.33 million. The deal, brokered by Yap Hui Yee, executive director of investment sales and capital markets at Savills Singapore, marks the highest price per square foot achieved for an office space in the prime district to date. The entire strata office floor, spanning 6,867 sq ft, was sold for $4,562 psf.

Tong Building, a 19-storey freehold office building at the corner of Orchard Road and Mount Elizabeth, was built in 1978 by TG Development. The prime location, next to Paragon shopping mall and Mount Elizabeth Hospital and Medical Centre, makes it a highly desirable commercial property.

According to a property title search, the buyer of the office floor at Tong Building is Parkway Hospitals Singapore, a subsidiary of Bursa Malaysia-listed private healthcare provider IHH Healthcare. …