As of September, Marriott International has nearly 4,000 properties distributed across 79 countries and territories.Marriott International announced on Sept 23 that it has launched two luxurious serviced apartments, namely Marriott Executive Apartments Bangkok Sukhumvit 101 and Marriott Executive Apartments Bangkok Sukhumvit 50, in the bustling city of Bangkok, Thailand.The lavish Marriott Executive Apartments Bangkok Sukhumvit 101 features a total of 140 well-appointed units, including elegant studios and spacious one- to two-bedroom apartments. The property, which is strategically located in the South Sukhumvit business district, is close to various prominent attractions such as the Bangkok International Trade and Exhibition Centre as well as True Digital Park, the largest technology and start-up hub in Southeast Asia.Guests can choose from a variety of luxurious accommodations, ranging from cozy studios (377-420 sq ft), elegant one-bedroom suites (484-592 sq ft) to expansive two-bedroom apartments (767-1,087 sq ft). The modern and stylish furnishings, coupled with the …

In the third quarter of 2024, the gross effective rent for Grade A offices in Singapore’s Central Business District (CBD) stayed unchanged at $11.50 psf per month, based on data from JLL published on Sept 23. This is a drop from the 0.7% q-o-q growth in the second quarter and the 1.4% q-o-q growth in the first quarter.

The rental growth has matched the second consecutive quarter of increasing vacancy rates for Grade A offices in the CBD, reaching 8.3% q-o-q in 3Q2024. The main reason for this rise is the completion of the IOI Central Boulevard Towers (IOICBT). JLL notes that due to this uptick in vacancy, tenants are becoming more resistant to rent increases. If the IOICBT is excluded, the CBD Grade A vacancy rate would have stayed relatively tight, similar to the post-pandemic low of 5.3% in 1Q2024.

However, the global economic slowdown and the ongoing delay …

Property investment has always been a reliable and consistent source of wealth for Singapore’s affluent. With its thriving property market, Singapore has consistently attracted investors to its commercial and residential spaces thanks to its position as a global financial hub. While real estate continues to be a fundamental component of building wealth, savvy investors are turning to alternative assets such as equities and cryptocurrencies to diversify their portfolios and enhance their property holdings.

Real estate has always been the go-to investment for the wealthy in Singapore, providing a stable and long-term value appreciation. As a global financial hub, the country’s prosperous property market continuously attracts investors to its commercial and residential spaces. While real estate remains a key component of wealth-building, knowledgeable investors are now looking towards alternative assets like equities and cryptocurrencies to complement their property holdings and diversify their portfolios.

Brokerage firms such as Tiger Brokers are pivotal …

When purchasing a condominium, it is crucial to also factor in the property’s maintenance and management. Usually, condos come with maintenance fees that encompass the maintenance of shared spaces and amenities. Although these fees may increase the overall cost of owning a condo, they guarantee that the property stays well-maintained and maintains its value over time. Hiring a property management firm can also aid investors in managing their condos on a daily basis, turning it into a more hands-off investment. If you want to invest in a condo in Singapore, you can explore options through Singapore Projects.

There will be a new SRI property auction on Sept 25, featuring a 1,593 sq ft strata office unit at Havelock II, located at 2 Havelock Road. This unit is currently owned by an individual and has a guide price of $2.63 million. The price per square foot (psf) is $1,651, based …

Amber 45 has emerged as the top performer among condos that achieved record psf prices between Aug 30 and Sept 8. The freehold development recorded a new high of $2,829 psf from the sale of a 1,184 sq ft, three-bedroom unit on the sixth floor for $3.35 million on Sept 2.This is the first time a unit at Amber 45 has crossed the $2,800 psf mark, surpassing the previous record of $2,791 psf set last December when a 700 sq ft, two-bedroom unit on the 19th floor was sold for about $1.95 million.Amber 45 was completed in 2021 and is a 139-unit development located at 45 Amber Road in District 15. (Photo: Samuel Isaac Chua / EdgeProp Singapore)According to URA caveats, the seller of the three-bedroom apartment had purchased the unit from the developer in May 2018 for about $2.72 million. This means the seller made a profit of about …

The residential site at Media Circle under the government land sales (GLS) programme came to a close on September 19 with only one bidder. The consortium, led by Singapore-listed Frasers Property, along with Padawan MC and Empire One North Property, submitted the sole bid of $120.09 million, translating to $461 per square foot per plot ratio (psf ppr).

Located in District 5’s one-north area, the 62,046 square foot site is earmarked for long-stay serviced apartments with commercial use on the first storey. Its maximum gross floor area stands at 260,605 square feet, and the 60-year leasehold plot is expected to generate 520 units.

Assessing the potential rental yield is a crucial aspect to consider when contemplating a condo investment. This is determined by the annual rental income in relation to the property’s purchase price. In Singapore, the rental yields for condos can vary significantly depending on factors like location, property …

The tender for a mixed-use commercial and residential site at Tampines Street 94, under the government land sales (GLS) program, was closed on September 19 with six bids. The highest offer of $668.28 million, or $1,004 per square foot per plot ratio (psf ppr), was submitted by a joint venture between Hoi Hup Realty and Sunway Developments.

The 99-year leasehold plot covers an area of 252,989 square feet and has a maximum gross floor area of 665,366 square feet. According to the Urban Redevelopment Authority (URA), it has the potential to yield around 585 residential units.

The top bid of $1,004 psf ppr is only 1.9% higher than the second highest bid of $985 psf ppr, which was submitted by Sing Holdings Residential.Read also: Frasers Property-led JV bids $461 psf ppr for Media Circle long-stay serviced apartments siteThe Tampines Street 94 site has received the most number of bids for …

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The Land Transport Authority (LTA) has recently announced that it is in the process of developing an AI chatbot to assist developers and appointed contractors in adhering to regulatory requirements. This was revealed by Minister of Transport Chee Hong Tat at the mid-autumn lunch of the Real Estate Developers’ Association of Singapore (REDAS) on September 17, where Chee was the guest of honour.

The government has been continuously reviewing existing rules and streamlining procedures for road and building works approvals. As part of this effort, the AI chatbot is expected to help industry professionals verify LTA regulatory requirements for their development proposals, eliminating the need to manually search through online publications. Chee explained that the chatbot will be capable of providing tailored advice to developers and contractors as they develop their proposals. Currently, LTA is engaging with the industry through the …

A freehold two-storey shophouse on 221 Rangoon Road is now available for purchase through an expression of interest (EOI) exercise. The shophouse, occupying a land area of 2,145 sq ft and a total built-up area of 3,347 sq ft, is being marketed by Brilliance Capital, with a guide price of $8.88 million or $2,653 psf on the built-up area.

According to Sammi Lim, founder and executive director of Brilliance Capital, the property is zoned for residential use with a gross plot ratio of 3.0 under the 2019 Master Plan, making it an attractive investment opportunity. The ground floor of the property is currently tenanted by a restaurant, while the upper floor is leased out for residential use, providing immediate rental income for future investors.

Lim expects strong interest from co-living operators, boutique developers, and family offices seeking a freehold asset. The shophouse is conveniently located within a 10-minute walk to …

During the week of Sept 3 to 10, the most profitable resale transaction at a condo in Singapore was a three-bedroom unit at Botanic Gardens View. The 1,755 square feet unit on the sixth floor was sold for $4.13 million, or $2,353 per square foot, on Sept 9. The seller had purchased the unit for $862,000, or $491 per square foot, in July 1998, making a profit of $3.27 million, or a whopping 379%, after owning the unit for approximately 26 years. This sale represents the most lucrative resale deal ever recorded at Botanic Gardens View, surpassing the previous record of $3.14 million from the sale of a 1,615-square-foot unit for $4.07 million, or $2,521 per square foot, in August 2019. That particular unit was acquired in September 2001 for approximately $930,000, or $576 per square foot.

This freehold condo at Taman Serasi, off Cluny Road in prime District 10, …