Hoi Hup Realty and Sunway Developments have jointly sold 137 units at Novo Place executive condominium (EC) during the second round of balloting on Dec 16. This phase was open to second-timers, who are buyers that have purchased a subsidized flat before, whether it is a new or resale HDB flat or an EC.

According to Mark Yip, CEO of Huttons Asia, this brings the total number of units sold at Novo Place to 444, which is 88.1% of the development. This achievement was reached within a month of the project’s launch on Nov 16, making it the top-selling EC project of 2024, Yip says.

“This is a strong indication of the interest from second-timers who are looking to upgrade their lifestyle,” Yip notes. “Many of the buyers are residents in the West.”

Novo Place has recorded a high demand for spacious homes, with all four-bedroom units being fully sold. …

According to data from URA published on December 16, developers sold 2,557 new private homes in November, not including executive condos (ECs). This marks a significant increase of 246.5% from the 738 new private homes sold in October and a jump of 226% compared to units sold in November 2023.

This figure represents the highest monthly developer sales since March 2013, when 2,793 units (excluding ECs) were sold. “The surge marked the highest monthly developer sales since March 2013, when 2,793 units (excluding ECs) were sold,” says Christine Sun, chief researcher and strategist at OrangeTee Group. Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors Inc (SRI), adds that this is the first time new home sales have exceeded the 2,000-unit threshold in a single month since March 2013.

The November developer sales figure is a result of an “unprecedented” number of project launches during the month, says …

Investing in a condominium in Singapore has emerged as a highly sought-after option for both domestic and international investors, primarily due to the nation’s strong economy, unwavering political climate, and exceptional quality of life. With a thriving real estate market, the opportunities in Singapore are vast, and amongst them, the appeal of condo investments is particularly prominent. With an array of conveniences, luxurious amenities, and the potential for lucrative returns, condos have become a favored choice for property investments in Singapore. This article will delve into the advantages, considerations, and necessary steps to take when investing in a condo in Singapore, including keeping an eye on new condo launches.

Hilton, a leading global hospitality company, has recently opened the Hilton Garden Inn Beihai Jiafu in the vibrant seaport city of Beihai, China. This milestone marks the 100th Hilton Garden Inn property in the Greater China region. The 199-room hotel …

CapitaLand Investment Limited (CLI) is making major moves in the Australian market with its recent acquisition of the property and corporate credit investment management business of Wingate Group Holdings for A$200 million ($173 million) and an earn-out contingency.

This acquisition will contribute to CLI’s total funds under management (FUM) in Australia, which is currently at A$2.5 billion. This will increase CLI’s FUM in Australia by 30%, bringing it to a total of $8.3 billion, which is approximately 7% of its total FUM of $115 billion. CLI has set a target to reach $200 billion in FUM by 2028.

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Investing in a condominium has its advantages, one of which is the opportunity to utilize its value to make further investments. Numerous investors leverage their condos by using them as collateral to secure additional financing for new ventures, effectively expanding their real estate portfolio. Incorporating New Condo Launches into their investment …

A row of four freehold conservation shophouses located at 762, 764, 766 and 768 North Bridge Road is currently available for purchase through an expression of interest (EOI). With a guide price of $37 million, these properties present an attractive investment opportunity for both local and foreign buyers looking for potential capital gains and stable rental yield.

The shophouses are situated across two plots of land measuring 5,766 sq ft, with an average land rate of $6,417 psf. The first plot consists of 762 and 764 North Bridge Road, sharing a 2,891 sq ft plot of land with a built-up area of 4,917 sq ft, including a mezzanine level. The remaining two shophouse units at 766 and 768 North Bridge Road are situated on an adjacent plot spanning 2,875 sq ft with a built-up area of 4,657 sq ft, also including a mezzanine level.

Exclusively marketed by Isabel Sim, associate …

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 …