Author: mentorshiponline

as JV partnerCommentary: The rental market is waking up from its COVID-19 slumber

Singapore-based real estate investment firm 8M Real Estate has recently acquired Sceneca Square, the retail podium of Sceneca Residence at Tanah Merah Kechil Link in the eastern region. The purchase price of the acquisition was $64 million, which translates to $3,161 psf based on the net lettable area of 1,881 sqm (20,247 sq ft). The deal was brokered by Sakal Real Estate Partners.

This acquisition marks a change in investment strategy for 8M Real Estate, which has primarily focused on investing in shophouses in the prime CBD area since its inception in 2014. Under former founder and CEO Ashish Manchharam, 8M had invested in over 30 shophouses across 72 shop lots, with assets under management of more than $1.3 billion. However, Manchharam exited the company in October 2023, having sold his stake to Hong Kong-based real estate …

The latest Land Betterment Charge (LBC) rates for the period of 1 Sep 2024 to 28 Feb 2025 have been released by the Singapore Land Authority. These rates have seen an increase for most use groups, including commercial, residential (landed), and hotel and hospital use groups. However, the residential (non-landed) use group experienced a decline in LBC rates.

The average LBC rates for the non-landed residential use group decreased by 5.4%, which is a reversal from the 0.1% increase in March. According to Chua Yang Liang, head of research and consultancy for Southeast Asia at JLL, this decline can be attributed to the “overhanging property cooling measures, a high interest rate environment, and rising global geopolitical risks have resulted in a loss in investor and developer appetite in this market”.

Overall, it is estimated that there has been an average decline of 13% in land values across the island, mainly …

A valuable portfolio consisting of a freehold conservation shophouse on 61 Rowell Road and two strata retail units at the City Gate mixed-use development on Beach Road has been put up for sale at $10 million. This exciting opportunity is currently being marketed exclusively by directors of PropNex Shophouse Elites, Wilkie Tay and Sunny L.

The assets are available for purchase as a whole or separately. If sold separately, the shophouse has a guide price of $7 million, while the two commercial spaces have a guide price of $3 million. Located in Rochor, District 8, the shophouse is a two-storey building with a mezzanine and is part of the Desker Road conservation area. It has a total area of 2,200 square feet, subject to a site survey, which translates to a guide price of $3,181 per square foot. The shophouse has undergone renovations, including the addition of a spacious open …

The recent sale of a four-bedroom unit at Four Seasons Park was the most profitable condo resale transaction in the week of Aug 20 to 27. The unit, located on the 20th floor and measuring 2,260 sq ft, sold for $7.8 million ($3,451 psf) on Aug 26. The seller, who purchased the unit in September 2020 for $4 million ($1,770 psf), gained a profit of $3.8 million after owning the unit for approximately four years. This equates to a capital gain of 95% or an annualized profit of 23.8%.

This sale marks the first resale transaction at Four Seasons Park in the current year and is also the most profitable deal the condo has seen in the past two years. However, it falls short of the highest profit ever recorded at the development. That honor goes to the sale of a penthouse measuring 6,157 sq ft for $17.88 million ($2,904 …

, from the 70s and 80sCharming architecture designs in Bishan, from the 70s and 80s

Sky Vue, located on Bishan Street 15 in District 20, has emerged as the top performing condominium for the week of Aug 16 to 23, achieving a new psf-price high. According to a caveat lodged on Aug 22, a 1,141 sq ft three-bedroom unit was sold for $2.7 million, setting a new record of $2,366 psf. The 14th-floor unit was previously purchased for $1.7 million ($1,490 psf) in January 2018, resulting in a profit of $1 million for the seller.

This is the first time a unit at Sky Vue has crossed the $2,300 psf threshold, surpassing the previous record of $2,225 psf for a similar-sized three-bedroom unit sold for $2.54 million. Based on caveats lodged, the condo has seen a total of 19 resale transactions this year, with an average price of $2,104 psf.…

When considering investing in condos in Singapore, one must also take into account the government’s property cooling measures. Through the years, various policies have been implemented by the Singaporean government to discourage speculative buying and maintain a stable real estate market. Among these measures is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreigners and individuals buying multiple properties. While these measures may affect the immediate profitability of condo investments, they ultimately contribute to the overall stability of the market, creating a safer environment for investing in condos.

Low Keng Huat’s executive director Alvin Teo: “Right from the start, Low Keng Huat was swift to respond to shifting market conditions and release units based on demand at that point in time.” (Photo: Samuel Isaac Chua/EdgeProp Singapore)Luxury development Klimt Cairnhill was first previewed in August 2021 and officially launched in January 2022. Since then, the freehold condo, …

This September, a luxurious three-bedroom duplex penthouse at Nassim Jade, a freehold development, will be featured in SRI’s next auction on Sept 25. With a guide price of $8.8 million, which translates to $2,930 per square foot, this fourth-floor unit spans an impressive 3,003 square feet.

The lower level of this duplex unit boasts a double-height living and dining area, a family room, a well-equipped kitchen, the master bedroom, and an en suite bedroom. On the upper level, you will find the third bedroom along with two common areas, a roof deck, and an additional study. Nassim Jade, a luxury residential project located in Prime District 10, was completed in 1997 and is now up for mortgagee sale.

This is the second time that this property will be auctioned, with the first appearance being at SRI’s previous auction on Aug 28, where the guide price was set at $9 million. …

Introducing Pinetree Hill, the first new project to be launched in the tranquil and lush residential enclave of Pine Grove in 14 years. With its debut scheduled for July 2023, this luxury condo is a joint venture between UOL Group (UOL) and Singapore Land Group (SingLand), and has already had a positive impact on the capital values of District 21.

Spread across three high-rise residential towers, Pinetree Hill offers 520 units, catering to diverse lifestyles with a wide range of unit types. From the compact 538 sq ft one-bedroom-plus-study to the spacious 2,874 sq ft five-bedroom penthouse, there is something for everyone.

Since its launch last year, Phase 1 of the 99-year leasehold project has seen an impressive take-up rate of 63%, with an average price of approximately $2,430 psf. With construction in full swing, the sales gallery at the site has been closed and replaced with a new one …