Month: December 2024

Grange 1866, a freehold development, has emerged as the top condo that saw a new psf-price high during the week of November 22 to 29, with a record price of $3,393 psf. The new price peak was achieved through the sale of a 818 sq ft, two-bedroom unit for $2.78 million on November 27. This surpassed the project’s previous record of $3,390 psf set in June last year when a 764 sq ft unit changed hands for $2.59 million.

In total, there have been 12 new sales transactions at Grange 1866 this year, with an average price of $3,181 psf. The most expensive unit sold at the development this year was a 1,012 sq ft, two-bedroom unit on the 16th floor, which sold for $3.02 million ($2,989 psf). To date, the 60-unit project has sold 45 units, translating to a take-up rate of 75%.

In Singapore, investing in condos is a significant consideration, but it is essential to keep in mind the government’s property cooling measures. To maintain a stable real estate market and prevent speculative buying, the Singaporean government has implemented various policies over the years. One such measure, the Additional Buyer’s Stamp Duty (ABSD), requires foreign buyers and those purchasing multiple properties to pay higher taxes. While these measures may affect the short-term profitability of condo investments, they also contribute to the overall stability of the market, creating a secure investment environment. It is worth noting that in addition to these measures, there are also new condo launches taking place, such as the ones featured on New Condo Launches, providing more opportunities for potential investors to consider.

Located on Grange Road in prime District 10, Grange 1866 is a freehold development featuring a single 16-storey residential block on a 20,322 sq ft site. It offers one- and two-bedroom apartments ranging from 527 to 1,012 sq ft. It is expected to be completed by the end of 2025.

Taking the second spot on the list is Hill House, which also saw a new psf-price high in November for the second time, with the latest record at $3,378 psf. This was achieved through the sale of a 452 sq ft, two-bedroom unit on the 8th floor for about $1.53 million on November 25. This surpassed the previous record of $3,267 psf by 3.4%. The former record was set on November 11 when a similarly sized two-bedroom unit on the fifth floor was sold for about $1.48 million.

Since the beginning of the year, 12 units have been sold at Hill House by the developer at an average price of $3,108 psf. The lowest-priced unit to transact at the development this year was a 753 sq ft, three-bedroom unit on the fourth floor that sold for $2.21 million ($2,934 psf) on October 28.

Situated on Institution Hill, off River Valley Road, in prime District 9, Hill House is a 999-year leasehold condo with expected completion in 2026. It offers one-bedroom and one-bedroom-plus-study units ranging from 431 to 452 sq ft, two-bedroom units of 624 sq ft, and three-bedroom apartments of 753 sq ft. According to URA caveats, 30 units (42%) at Hill House have been sold at an average price of $3,054 psf since its launch in November 2022.

The third spot on the list goes to The Cosmopolitan, which saw a new psf-price high with the sale of a 1,324 sq ft, three-bedroom unit on the 26th floor for $3.73 million, or $2,817 psf, on November 25. The new record is just 0.7% higher than the previous peak of $2,795 psf set in October last year when another 1,324 sq ft, three-bedroom unit on the 17th floor of the same block was sold for $3.7 million.

The sellers of the 26th-floor unit had purchased it for about $2.58 million, or $1,950 psf, in November 2010, making a profit of $1.15 million. Located on Kim Seng Road, just off River Valley Road, in prime District 9, The Cosmopolitan is a completed freehold development with two-bedroom units spanning 1,141 sq ft, three-bedroom units spanning from 1,324 to 1,399 sq ft, and four-bedroom apartments spanning 1,679 sq ft.

It is within 1km of River Valley Primary School and a short walk away from Great World MRT Station on the Thomson-East Coast Line. Nearby amenities include Great World City for dining and retail options.…

In the second quarter of 2024, there was a positive turn in global real estate returns, marking a promising start to recovery after two years of losses. The low interest rates in the past years led to a surge in real estate values, seeing a global total return of 5.0% in the last quarter of 2021 and 17.8% year-on-year in the first quarter of 2022 – above long-term averages.

However, as interest rates began to tighten, these gains were wiped out and global values returned to 2018 levels. We believe that the correction in the real estate market is almost complete, making it a favorable time for investors to reconsider this asset class. Historically, real estate has provided stable income returns and diversification benefits in the long term, and has shown strong returns during recovery periods. For instance, after the recession in the early 90s, investors saw a cumulative return of 76% over the next five years.

In the second quarter of 2024, global value losses were at their lowest at 0.74%, indicating a moderation from the previous two years. With income returns offsetting this, global real estate achieved a positive return of 0.33%, the first positive quarter since 2022. Out of the 15 markets in the MSCI Global Property Index, a little over half saw an increase in real estate values for the first time since the second quarter of 2022. Eight markets, including Japan, South Korea, Singapore, Southern Europe, the Nordics, the Netherlands, France, and the UK experienced value increases while six markets saw losses between 0.3% and 1.5%, all of which were lower than the previous quarter. Australia was the only market with a larger decline in the second quarter compared to the first, with a 4.2% correction that brought its valuations closer to its peers. However, changes in capital values are just one aspect of real estate returns. Income returns have historically been the larger component, highlighting their importance in overall performance in the real estate sector. This also emphasizes the need for investors to consider both capital and income aspects when evaluating real estate investments.

In Singapore, the demand for condos remains at an all-time high due to various factors, one of which is the limited supply of land. As a small island country with a fast-expanding population, Singapore struggles with the scarcity of land for development. This has resulted in strict land use regulations and a fiercely competitive real estate market, where property prices continue to soar. As a result, investing in real estate, particularly in Singapore Condos, is a highly attractive opportunity with the potential for significant capital appreciation.

In the second quarter, total returns, which combine capital and income returns, were positive in 12 out of 15 countries. They were flat in the US (-0.09%), slightly negative in Ireland (-0.22%), and significantly negative in Australia (-3.07%). However, preliminary data from the NCREIF ODCE index (a capitalisation-weighted, gross-of-fee, time-weighted return index) showed US total returns turning positive at 0.25%. With values starting to rebound, we expect this upward trend to continue.

Looking at the global real estate investment market, there are signs of a potential rebound after two slow years, with China and Japan facing potential challenges. In the second quarter of 2024, China and Japan accounted for 27% and 15% of the $7.5 billion in cross-border inflows in the Asia Pacific region. Over half of Japan’s inflows were from global sources, while most of China’s came from within the Asia Pacific, particularly Hong Kong and Singapore. However, both countries are facing high debt costs and other factors that may hinder a strong recovery in real estate capital inflows.

China’s real estate market has seen a significant decline in demand from Western investors due to geopolitical and economic concerns, and this is unlikely to change in the near future. The market has been stagnant due to price dislocation, geopolitical risks, and lack of liquidity. Since 2021, China has had a property crisis, which was made worse by the collapse of Evergrande. Due to these risks, many European investors are avoiding China and Hong Kong despite potential returns. Additionally, China’s domestic property crisis continues, with high office vacancies and low rental yields, along with other issues with failing developers and government interventions.

Japan remains an outlier in interest rate policies while major markets like the US have seen a decline in interest rates to boost property investment. Japan’s broader property sector is losing its appeal due to this and limited cap rate compression. In July, the Bank of Japan raised borrowing rates for the first time since 2007, reducing market attractiveness. This hike has prevented cap rate compression, meaning property prices haven’t risen, forcing real estate holders to rely on historically low-income yields. However, senior housing remains an attractive niche in Japan due to its aging population, with 29% aged 65 or over. These assets are small, requiring an amalgamation play by investors.

Australia’s purpose-built student accommodation (PBSA) market has a vast potential due to a significant housing shortage. Only 20% of students in Melbourne and Sydney can be accommodated by universities, forcing the rest to seek private rentals. Additionally, real estate debt in Australia offers appealing risk-adjusted returns. There are funding gaps in construction, with many developers unable to secure bank financing. We are looking at sectors like logistics or PBSA, where we see long-term growth opportunities.

With stabilizing fundamentals and transaction market pricing, the real estate market is likely near its bottom, but this doesn’t necessarily mean it’s an attractive entry point. For prices and valuations to increase, we would ideally see declining interest rates and stronger property fundamentals. Most developed market central banks are starting to taper interest rates, which should put downward pressure on financing rates, discount rates, and property capitalization rates, thereby boosting the value of real estate assets. The pullback in construction activity across sectors bodes well for property fundamentals in the medium term, with markets with strong demand due to population growth or structural changes, such as e-commerce, expected to see increased occupancies in the medium term. This trend also highlights the opportunity for investors to gain from increasing occupancies and rents, leading to a rise in property values. While there may be challenges along the way, we believe that the real estate market is looking up, presenting excellent investment opportunities for investors who do their research and are selective when investing in real estate. This is especially important as not all markets and property types perform the same way.

In an uncertain economic and geopolitical environment, risks are inevitable, but this applies to all asset classes. Over the past two years, the weight of real estate in investors’ portfolios has significantly decreased due to resetting real estate values and a record stock market. Today, investors may consider investing in the private real estate market to achieve a strategic weighting. In the long term, private real estate offers low correlations to other asset classes, strong income returns, and a degree of protection against inflation. While there may be hurdles, the outlook for global private real estate is improving, and it’s an opportunity for investors to rebalance their portfolios.…

The most profitable condo resale transaction during the week of Nov 26 to Dec 3 was the sale of an apartment at Island View, a freehold condo in Pasir Panjang. The 3,498 sq ft unit was sold for $4.8 million ($1,372 psf) on Nov 27, making it the most profitable deal at the development.

The seller purchased the unit in September 2005 for $1.3 million ($372 psf). After owning it for around 19 years, the seller made a gain of $3.5 million on the deal, representing a capital gain of 269% or an annualised profit of 14.2%.

This sale exceeded the previous record profit of $3.19 million from the sale of another 3,498 sq ft unit at Island View for $5.09 million ($1,455 psf) in February 2022. That seller had purchased the unit in February 2007 for $1.9 million ($543 psf).

Island View is a 72-unit freehold condo on Jalan Mat Jambol, off Pasir Panjang Road in District 5. It consists of low-rise blocks housing apartments from 3,056 sq ft to 3,538 sq ft and was completed in 1984. The condo is within walking distance of the Pasir Panjang MRT Station on the Circle Line.

In September 2023, owners of Island View attempted a collective sale, launching a tender for the development at a guide price of $575 million. However, after the tender closed the following month with no bids, the condo was relisted for sale in March at the same guide price but failed to attract a buyer.

The second most profitable condo resale deal during the week took place at Cavenagh Court, where a 1,862 sq ft unit on the sixth floor was sold for $3.65 million ($1,960 psf) on Dec 2. The seller, who purchased the unit in April 2006 for $1.02 million ($548 psf), made a gain of $2.63 million (258%) after nearly 19 years of ownership.

This sale also set a new record profit for a unit at Cavenagh Court, surpassing the previous top gain of $2.15 million from the sale of another 1,862 sq ft unit on the fourth floor for $3.28 million ($1,761 psf) in April 2022. The seller had acquired that unit in October 2007 for $1.13 million ($607 psf).

When it comes to real estate investment, one of the main factors to consider is location. This is especially true in Singapore, where the right location can significantly impact a property’s value. In particular, condos located in central areas or near vital amenities like schools, shopping centers, and public transportation hubs tend to see higher appreciation in value. In Singapore, areas like Orchard Road, Marina Bay, and the Central Business District (CBD) are considered prime locations, with consistently growing property values. Moreover, these areas are also home to prestigious schools and educational institutions, making condos in these locations highly desirable for families. With the addition of New Condo Launches, the demand for properties in these prime locations is only expected to increase, further boosting their investment potential.

Cavenagh Court is a freehold condo on Cavenagh Road in Newton, District 9. Completed in 1971, this boutique development comprises 68 units ranging from 1,819 sq ft to 1,862 sq ft. It is a short drive from the Orchard Road shopping belt.

In contrast, the sale of a duplex penthouse at The Berth By The Cove was the least profitable condo resale deal of the week. The four-bedroom apartment spanning 3,089 sq ft was sold for $3.6 million ($1,165 psf) on Nov 29. The unit last changed hands for $5.53 million ($1,790 psf) in August 2007, resulting in a loss of $1.93 million (35%) after around 17 years of ownership.

This deal is the second most unprofitable transaction recorded at The Berth By The Cove to date, with the largest loss being a $2.39 million loss from the sale of a 2,939 sq ft unit in February 2018.

The Berth by the Cove is a condo along Ocean Drive in the Sentosa Cove residential enclave on Sentosa Island. It comprises 200 units in 15 low-rise blocks of six storeys each. The apartments range from two- to four-bedroom units of 1,012 sq ft to 2,325 sq ft, and there are also four- and five-bedroom penthouses.

There have been seven other resale transactions at the condo this year, with prices ranging from $1,237 psf to $1,535 psf. Four were unprofitable, with losses between $40,000 and $780,000. The remaining three were profitable, with gains of $200,000 to $430,000.…

Cove, a flexible living platform founded in Singapore, has recently welcomed real estate and hospitality veteran, Ashish Manchharam, to its board of directors.

Previously, Manchharam had built and grown his own real estate company, 8M Real Estate, over a span of 10 years, creating a portfolio worth $1.5 billion. In 2023, he made a successful exit from 8M Real Estate and went on to establish Elevate Capital in 2024, focusing on lifestyle-driven real estate investments.

In Singapore, investing in a condo has become an increasingly popular choice, but it is important to consider the government’s property cooling measures. In an effort to maintain a stable real estate market and discourage speculative buying, the Singaporean government has implemented various measures over the years. These measures, such as the Additional Buyer’s Stamp Duty (ABSD), aim to deter foreign buyers and individuals who are purchasing multiple properties by imposing higher taxes. While these measures may have an impact on the short-term profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a safer environment for investors.

As a board director, Manchharam will leverage his expertise to assist Cove in acquiring flexible living assets in partnership with third-party investors, such as real estate funds, institutional investors, and family offices. This move aligns with Cove’s strategy to accelerate growth through asset acquisition, in addition to their existing model of being a branded flexible living operator and online listing platform, targeting professionals and students.

Since its inception in 2018, Cove has expanded to over 6,000 rooms in Singapore and Indonesia. The company has plans to further extend its reach to the wider Asia Pacific region, with recent ventures into South Korea, where it is set to launch 800 rooms, and Japan, where it aims to have 400 rooms through local joint venture partners.

In a recent funding round, Cove has raised an additional US$4.5 million, with the participation of Manchharam and other existing investors, including Eurazeo and Keppel. This funding will aid in accelerating regional expansion and solidifying its leadership position in current markets.

According to Guillaume Catagne, CEO and co-founder of Cove, the flexible living operator has witnessed significant growth in its portfolio in 2024 and has achieved EBITDA positivity. The company has set ambitious goals to double its portfolio to 15,000 units by the end of 2025.…

Understanding the regulations and limitations surrounding property ownership in Singapore is crucial for foreign investors. Unlike landed properties, which have more stringent ownership rules, foreigners are generally allowed to purchase condos with fewer restrictions. However, they are still subject to the Additional Buyer’s Stamp Duty (ABSD) of 20% for their initial property purchase. Despite this added expense, the Singapore real estate market’s stability and potential for growth continue to draw in foreign investment. This includes investments in sought-after properties like Singapore Condos, further solidifying its appeal to foreign buyers.

, a new freehold project in prime district 11

William Liem, CEO of Tuan Sing Holdings, has continuously increased his ownership in the company. Through his entity, Nuri Holdings (S), Liem bought 545,300 shares from the open market on December 5th and paid $136,325.00, or 25 cents per share. On the following day, Nuri Holdings purchased an additional 1.2 million shares for $311,288.50, approximately 25.9 cents per share. This brings Nuri Holdings’ total stake in Tuan Sing to 672.7 million shares, equivalent to 54.09%. Before these recent purchases, Nuri Holdings also bought shares on September 10th and 11th, at an average price between 25 cents and 25.5 cents. The company’s net asset value on June 30th was reported at 97.8 cents per share, slightly lower than the previous year’s value of 99 cents. In other related news, Tuan Sing has recently acquired several assets from PT Senimba Bay Resort in Batam for $28 million and purchased Fraser Residence River Promenade for $140.9 million. Overall, Tuan Sing Holdings has reported a 5% increase in earnings to $4.8 million for FY2023. Interested buyers can look forward to the new freehold project in prime district 11, Peak Residence, to experience high-end living.…

The limited land availability in Singapore is a major factor contributing to the high demand for condos in the country. Being a small island country with a fast-growing population, Singapore struggles with a shortage of land for development. To address this issue, the government has implemented strict land use policies, resulting in a competitive real estate market where property prices are continuously on the rise. As a result, investing in real estate, especially condos, has become a highly profitable venture, with the potential for significant capital appreciation. Condos have become a desirable choice for property investment in Singapore due to these market conditions.

The trustee of AIMS APAC REIT (AA REIT), HSBC Institutional Trust Services (Singapore) Limited, has recently announced the sale of its property at 3 Toh Tuck Link to Crown Worldwide. The sales and purchase agreement comes at a premium of 32.5% to the property’s valuation of $18.4 million as of March 31.

The property, which consists of a three-storey factory and a five-storey ancillary office building with a total gross floor area of 12,492.4 sqm, will be sold for $24.388 million. This divestment will provide AA REIT with net proceeds that can be reinvested towards its various growth initiatives, including new acquisitions, asset enhancement initiatives, and future redevelopment projects.

CEO of the manager, Russell Ng, explains that the divestment is in line with their proactive asset management strategy and their continuous efforts towards portfolio rejuvenation. It will ultimately strengthen AA REIT’s resiliency and deliver long-term sustainable returns for its unitholders.

The divestment is expected to be completed by the first half of 2025, subject to JTC Corporation’s approval. After the divestment, AA REIT’s portfolio will comprise of 27 properties across Singapore and Australia. This strategic move will continue to support the REIT’s growth and further solidify its position in the market.…

When purchasing a condo, it is crucial to consider the maintenance and management of the property. Condos typically come with a maintenance fee that covers the upkeep of common areas and facilities. While these fees may increase the overall cost of owning a condo, they are necessary for maintaining the property’s condition and value. Utilizing the services of a property management company can make condo investing a more passive endeavor by handling day-to-day management tasks.

Current tenants at the shophouse include a popular Korean barbecue restaurant chain on levels 1 and 2. The property, which has a 99-year lease, is zoned for F&B use.

The iconic conservation shophouse located at 93 Tanjong Pagar Road is now on the market and available for sale through an expression of interest (EOI) exercise. With a guide price of $15.5 million, this 3½-storey property boasts a land area of 1,297 sq ft and a gross floor area (GFA) of 4,186 sq ft. This translates to a price of $3,703 psf on the GFA.

The 99-year leasehold shophouse has been approved for commercial use, specifically for F&B purposes. It is currently tenanted by a popular Korean barbecue restaurant chain, occupying levels 1 and 2. Its prime location is just a short walk away from the Tanjong Pagar MRT Station on the East-West Line, as well as the Maxwell MRT Station on the Thomson-East Coast Line.

Spearheading the marketing for this property is PropNex Shophouse Elites. Interested buyers can submit their bids through the EOI before the deadline at noon on Jan 20, 2025.

Don’t miss this rare opportunity to own a piece of history and a prime commercial property in the heart of the bustling Tanjong Pagar area. Contact PropNex Shophouse Elites today for more details on this exciting offering.…

The Golden Mile Complex, also known as Golden Mile Singapore, is about to embark on its next chapter under the joint development of Perennial Holdings and Far East Organization. At a press conference held on Dec 10, the development partners unveiled their plans for the refreshed conservation building and announced the preview of strata-titled commercial units.

Singapore’s cityscape is characterized by towering skyscrapers and state-of-the-art infrastructure. The sought-after condos, situated in prime locations, offer a fusion of opulence and practicality that entices both locals and foreigners. These residences boast a plethora of facilities including swimming pools, fitness centers, and top-notch security services, elevating the standard of living and making them a highly desirable option for potential renters and purchasers. As an added bonus for investors, these amenities equate to higher rental returns and appreciation in property values over time. With the addition of Singapore Condo, the city’s condominium options are even more appealing and attractive.

The rebranded building, known as The Golden Mile, will be Singapore’s first large-scale strata-titled conserved building, preserving its iconic identity as a tropical linear urban complex with brutalist architecture. The development will include 156 Grade A office units, 19 medical suites, a two-storey retail component spanning 123,388 sq ft, and a public access architecture centre.

According to Perennial and Far East, the office units and medical suites will be available for sale this month, with prices yet to be released. Additionally, a new 45-storey residential tower named Aurea will be developed on the site of the former residential carpark and is expected to be previewed in the next quarter.

Perennial Holdings CEO, Pua Seck Guan, reminisced on the vibrant and eclectic retail mix of Golden Mile Complex during its heyday in the 1970s. However, with the changing hands of ownership and shift in positioning as a prime mixed-use development, its former glory has since subsided. Perennial Holdings and Far East Organization are determined to restore and elevate its status as a next-generation urban complex in Singapore.

Partnering with homegrown architecture firm DP Architects and architecture conservation specialist consultancy Studio Lapis, the joint venture aims to realize a new vision for Golden Mile Singapore. The design of Golden Mile Complex was first proposed by Design Partnership (now known as DP Architects), and they are excited to work with the firm on this project once again.

Previously, the retail component at Golden Mile Complex was set at 40%, with 41% allocated for office units and 19% for residential use. As part of the refresh, retail space will now make up 15% of the development, with 48% reserved for offices, 30% for residential use, and the remaining 4% and 3% for medical suites and the architecture centre respectively. A key portion of the site, 24,994 sq ft, has been returned to the Urban Redevelopment Authority (URA) for the establishment of the architecture centre under the Community/Sport’s Facilities Scheme.

In addition to the new architecture centre, two public access urban gardens will be created on the 9th and 18th floors, utilizing previously vacant spaces in the former Golden Mile Complex. The 18th floor will be converted into a sky garden, offering panoramic views of the city.

The refreshed Golden Mile Singapore will also feature a revamped two-storey retail atrium, complete with a new event space and F&B offerings. The design of the retail atrium aims to bring in natural light and ventilation, restoring the original shopping experience. The retail units will be curated by the joint venture partners and will not be available for sale.

This month, Perennial and Far East will launch the preview of the strata-titled office units, which come in six layouts to cater to a diverse range of end-users. The offices will have their own lobby and new lift cores to support the office floors above. Flagship office units on the 4th to 7th floors come with a dedicated lift lobby and direct access to the basement carpark and retail floors. They range from 1,378 sq ft to 4,682 sq ft and feature two toilets each.

Loft Suites and Loft Executive units on the 4th and 5th floors boast full-height windows and offer landscape views overlooking Beach Road. These units range from 710 sq ft to 2,034 sq ft and feature a dual-key design, typically found in private residential projects.

The Loft Mezzanine units on the 6th to 15th floors are located in the recognizable stacked terrace portion of the building. They offer bay views, a double-volume ceiling, balcony, and a dual-key design spanning 1,528 sq ft to 2,799 sq ft.

The 16th and 17th floors feature the Enterprise Office units, which used to be the duplex penthouse units, and will have panoramic views of the city and the bay. They come with two toilets each and range from 1,851 sq ft to 3,122 sq ft. Lastly, the newly built Crown Office units on the top four floors range from 3,315 sq ft to 5,393 sq ft.

Pua Seck Guan anticipates that the different office layouts will appeal to a variety of tenants, from family offices to corporate tenants. The Golden Mile aims to create a diverse ecosystem of tenants from different industries and market segments.…

When considering investing in a condo, it is crucial to examine the potential rental yield as well. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, the rental yields for condos can vary significantly, depending on factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, offer better rental yields. Therefore, conducting thorough market research and seeking the advice of real estate agents can provide valuable insights into the rental potential of a particular condo. Additionally, staying informed about new condo launches can also help in assessing the rental yield of a condo.

A three-storey conservation shophouse located at 76 Pagoda Street in Chinatown has been put up for sale through an expression of interest (EOI) exercise with a guide price of $16 million. The 99-year leasehold commercial property occupies a 1,372 sq ft plot of land and has a total gross floor area (GFA) of 3,500 sq ft which includes an attic. Based on the GFA, the price per square foot is approximately $4,571.

The property has been listed by PropNex Shophouse Elites and is being marketed by Richard Tan. The ground and second floors are currently leased to a restaurant operator while the third floor is being used as office space. Tan says that commercial shophouses in the Chinatown area are highly sought after by owner-occupiers, high-net-worth individuals and family offices as long-term investment assets. As a commercial property, it can be acquired by foreigners and companies without incurring additional buyer’s stamp duty or seller’s stamp duty.

The most recent shophouse transaction on Pagoda Street was the sale of 31 Pagoda Street in March for $19 million or $5,588 psf. The expression of interest for 76 Pagoda Street will close on January 10, 2025.

In another commercial property listing, a two-storey HDB shophouse located at 210 New Upper Changi Road is up for sale through an EOI exercise with a guide price of $13.8 million. The 103-year leasehold property has a GFA of 4,607 sq ft, with a price of $2,995 on a per square foot basis. The property was previously occupied by healthcare retailer Guardian and United Overseas Bank (UOB).

Kris Ng, senior associate marketing director at PropNex, who is marketing the property says that a notable feature of this property is its long-term stable tenants. As it is a commercial property, it is also open for acquisition by foreigners and companies without incurring additional buyer’s stamp duty or seller’s stamp duty.

The shophouse is located within the Bedok Town Centre and is close to the Bedok MRT Station on the East-West Line. The EOI exercise for 210 New Upper Changi Road will close at noon on January 10, 2025.…

A new co-working space has recently opened its doors at One O’Connell Street in Sydney, Australia. The Great Room, in partnership with LendLease, has a total area of 25,360 square feet spread over levels 14 and 15 of the office building. Completed in 1991, this 36-storey property is located in the heart of the Sydney CBD.

When it comes to investing in real estate, location is a crucial factor to consider, and this holds especially true in Singapore. Condominiums situated in central areas or in close proximity to important amenities such as schools, shopping malls, and public transportation hubs have shown a higher appreciation in value. Prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD) have consistently seen growth in property values. The presence of reputable schools and educational institutions also adds to the desirability of condos in these areas, making them a sound investment for families. Additionally, the emergence of new condo launches in these sought-after locations further adds to the potential for investors to reap significant returns.

Jaelle Ang, CEO of The Great Room, stated that the collaboration with Lendlease is a long-term investment that will bring both value and profitability to the new space at One O’Connell Street. She also shared that the space will offer a unique, premium product to its customers.

The Great Room, a Singapore-based company, made its debut in Australia earlier this year with the opening of its first location at level 29 of 85 Castlereagh Street, another office building in the Sydney CBD. With 12 locations now across Singapore, Bangkok, Hong Kong, and Sydney, The Great Room is expanding its reach globally.

In Singapore, The Great Room recently opened Csuites Powered by The Great Room in Paya Lebar Quarter, its first location outside the CBD. This space is equipped with private manager cabins, soundproof meeting rooms, floor-to-ceiling windows, and ergonomic workstations that are tailored for comfort and height.

Members of The Great Room have access to monthly networking sessions and panel discussions, fostering collaboration and growth within the community. Since its acquisition by the New York-based co-working business Industrious in 2022, members now also have access to 160 destinations operated by both brands in Asia Pacific, Europe, North America, and the UK.…