Month: December 2024

In Singapore, one crucial factor to take into consideration when investing in condos is the government’s property cooling measures. In order to maintain a stable real estate market and discourage speculative buying, the Singaporean government has implemented various measures over the years. These include the Additional Buyer’s Stamp Duty (ABSD) which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may have an impact on the short-term profitability of condo investments, they also contribute to the long-term stability of the market, making it a more secure investment environment. Additionally, Singapore Projects are also a major factor to consider as they play a significant role in the growth of the condo market.

The government is taking proactive measures to ensure that there is sufficient supply of private residential units to meet the demand for housing and maintain market stability. In the upcoming 1H2025 GLS Government Land Sales programme, a total of 8,505 units will be offered in the Confirmed List and Reserved List.

On the Confirmed List, there will be ten plots available, including nine residential sites and one residential cum commercial site. These sites are expected to yield a total of 5,030 residential units, including 980 units of executive condo (EC). This supply is in line with the 5,050 units offered in the Confirmed List for 2H2024, but it is significantly higher than the average supply in each GLS programme from 2021 to 2023.

The Reserve List consists of four private residential sites, one commercial site, three White sites, and one hotel site. These sites have the potential to yield an additional 3,475 private residential units and 199,900 sqm (2.15 million sq ft) gross floor area (GFA) of commercial space. The 3,475 residential units on the Reserve List for 1H2025 are higher than the 3,090 units in 2H2024. When combined with the Confirmed List, the overall private housing supply of 8,505 units in 1H2025 is on par with the 8,140 units in 2H2024.

The progressive increase in private housing supply from the GLS programmes over the past three years has led to an increase in the inventory of private residential units available for sale. This has contributed to the stabilisation of the private residential market, as seen in the moderation of property price growth. According to the URA private residential property price index, price growth has slowed down to 6.8% in 2023 from 10.6% in 2021 and 8.6% in 2022. In 2024, private residential prices are expected to see more modest gains, with a cumulative increase of around 1.6% in the first three quarters of the year.

To address the rising competition for EC sites and land prices, the government has increased the supply of EC sites in the Confirmed List for 1H2025, with three plots offering a total of 980 units. This is a departure from previous GLS programmes since 2019, where only one EC site was offered in each half-yearly land sales programme. According to PropNex CEO Ismail Gafoor, this increase in EC land supply could help to ease competition among developers in land tenders and moderate EC land costs and prices.

The 1H2025 GLS programme will introduce seven new plots, including a site near Jurong Lake Gardens in Jurong Lake District, a site in the new housing precinct of Bukit Timah Turf City, and a site on the former Keppel Golf Course. The new housing precinct in Bukit Timah Turf City is expected to be a highly sought-after location, being in close proximity to MRT stations. The site of the former Singapore Indian Fine Arts Society on Dorsett Road, off Rangoon Road, which can yield about 430 units, will also be launched for sale in 1H2025. Additionally, there will be a residential and commercial site at Hougang Central, near the Hougang MRT Station, which can potentially yield 835 residential units and over 400,000 sq ft of commercial space.

The Reserve List includes sites in two new housing precincts and a majority of the sites are near MRT stations, making them attractive to developers and homebuyers. Gafoor see the most attractive sites as the mixed-use site in Hougang Central, the Telok Blangah Road site, the Dunearn Road site in the new housing precinct, and the Lakeside Drive site, which is adjacent to the Lakeside MRT station, Jurong Lake Gardens, and the Jurong East commercial hub. The government has also provided more flexibility in the use of the Upper Thomson Road site, which saw no bids when its tender closed in June 2024, by not mandating the use of serviced apartments/long-stay serviced apartments. The site can potentially yield a mix of residential units and long-stay serviced apartments, subject to approval from technical agencies. In conclusion, the GLS programme for 1H2025 will contribute to the stabilisation of the private residential market while providing a variety of attractive sites for developers and homebuyers to choose from.…

St William, a division of the well-known London-listed real estate company Berkeley Group, is introducing a new residential project in the city of London called Regent’s View. This unique project consists of 555 units and is located in the Tower Hamlets borough, in Zone 2. It is an innovative adaptive reuse scheme that has transformed a decommissioned Victorian-era gasholder site into a modern mixed-use development, offering a canal-front living experience.

The exceptional design and concept of Regent’s View have already garnered global recognition, as it was awarded “Best Future Residential Project” at the World Architecture Festival (WAF) 2024. The prestigious architectural awards ceremony took place in Singapore, from Nov 6-8 at the Marina Bay Sands.

Following a successful initial launch in the UK last year, St William has now launched the second phase of sales for Regent’s View in September. It will also be bringing the project to key Asian markets for the first time.

Originating as a 50:50 joint venture between Berkeley Group and London’s National Grid in 2014, St William’s main goal is to redevelop decommissioned industrial sites owned by the National Grid into new residential and community spaces. In March 2022, Berkeley Group acquired National Grid’s stake in St William for GBP412.5 million ($705 million), giving it full ownership of 24 brownfield sites across London for its long-term landbank. St William is currently developing or in the process of developing about six sites.

Regent’s View is one of these ongoing projects. The 4.5-acre site in East London is located along the banks of Regent’s Canal in the Tower Hamlets borough and was formerly known as the Bethnal Green Gasholders. This historic site has been a landmark in the area since the 1850s, providing gas to the district’s residential homes.

Although the gasholders were officially decommissioned in 2012, the iconic frames have remained an integral part of the borough’s cityscape for over 200 years. The largest gasholder frame stands at 146 ft tall and has a diameter of 200 ft. Due to structural decay, all but two of the gasholder frames were set to be demolished. However, St William, in partnership with its architect RSHP, has decided to incorporate them into the design of the new residential project, preserving them as an iconic architectural element.

“The design of Regent’s View celebrates the industrial heritage of the site, and the preservation of the gasholder frames is crucial in defining a unique urban and architectural place to live,” says Graham Stirk, senior director at RSHP. “The use of industrial architectural vocabulary reinforces this approach and adds to the distinctive character of the development.”

Regent’s View will consist of five new contemporary residential buildings, ranging from six to 13 stories, surrounding a beautifully landscaped park. Two of the residential towers will be framed by restored gasholder structures, adding to the unique design of the project.

The development will offer 555 private and affordable homes and 45,000 sq ft of ground floor commercial and community spaces, including a restored 100m public-access canal frontage. This will be the first time in over 150 years that this stretch of Regent’s Canal will be open to the public, and it will be activated with new F&B offerings.

As expected, the development of Regent’s View has faced some controversy. In 2019, when residents were notified of the site’s potential redevelopment by the local council and St William, over 8,000 people signed a petition to preserve the gasholder frames. However, the Tower Hamlets council ultimately voted seven-to-one in favor of the development.

It took St William nearly five years, from 2018 to 2022, to conceptualise and incorporate the gasholder frames into the design of the new blocks, as well as win local support for the project. Dean Summers, divisional managing director at St William, shares that much of the time was spent engaging with the local community to find ways to preserve the gasholder frames, meet their affordable housing targets, and rejuvenate the canal front through placemaking activities.

Due to the limited availability of land in Singapore, there is a surging demand for condos in the country. As a small island nation with a burgeoning population, Singapore grapples with a scarcity of land for development. To manage this challenge, the government has implemented strict land use policies, resulting in a highly competitive real estate market where property prices remain consistently high. As a result, investing in real estate, particularly in condos, has become a lucrative venture with the potential for significant capital appreciation. This trend is also evident in the numerous Singapore Projects that continue to attract buyers and investors alike.

“Affordable housing is a top priority for many local councils in London to benefit residents in the area. We were pleased to work closely with them on the adaptive reuse of this industrial site, which enabled us to assign 35% of the units for affordable housing,” he says.

The design of the residential buildings and the integration of the existing gasholder frames were also closely examined, as well as the site’s accessibility to encourage public access. Nearly 100m of previously inaccessible canal frontage will be reactivated with F&B and amenities.

“We wanted the development of Regent’s View to contribute to the overall rejuvenation and placemaking of the neighborhood. As such, we chose to use a landscape buffer around the site rather than the traditional high walls of a gated community,” says Tracy Meller, senior director at RSHP.

She adds that the circular forms of the gasholder frames were utilized in the design to create a softer contrast to the edges of the site. “This design allows for natural movement through the site, across the central courtyard, and towards the canal front,” she explains.

The ground floors of all five buildings will have non-residential spaces. The two largest gasholder buildings along the waterfront will house public-facing commercial amenities such as cafes, bars, and restaurants. The other three buildings will have resident-exclusive spaces like a concierge and facilities.

Regent’s View is not the only industrial brownfield site with heritage gasholder frames that St William is developing. As part of the landbank acquired from its previous partnership with National Grid, the company is also developing a 23-acre site in the Borough of Newham. It will be a 2,000-unit mixed-use project, and RSHP is also involved in the design plans. The Bromley-By-Bow Gasworks, which houses seven Victorian-era gasholder frames, is the largest collection of surviving gasholders in the world. Development is expected to begin next year.

Last year, St William launched sales for The Wright Building, a six-story block at Regent’s View offering one- to three-bedroom units ranging from 628 sq ft to 1,247 sq ft. The Wright Building is more than 70% sold, with prices starting from GBP675,000 ($1.15 million) to GBP1.63 million. This block is expected to be completed next year.

In September, St William launched sales for The Westwood Building, another six-story block offering one- and three-bedroom units ranging from 584 sq ft to 1,247 sq ft. Most of the units in The Westwood Building are one-bedroom, and it is expected to be popular with international investors. Prices start from GBP585,000 for a one-bedroom unit to GBP1.68 million for a three-bedroom unit.

According to Summers, over 50% of international buyers are based in Asia. “We have seen strong interest from international buyers, especially those looking for a base for their children attending university or as a professional residence near London’s financial hubs,” he shares.

Summers states that the next sales phase for Regent’s View will include units in the 13-story block facing the canal, and it will go on sale in the second half of 2025. “This phase will include some of the largest units at Regent’s View, such as our three-bedroom offerings, and we expect it will attract a lot of interest due to the F&B options on the ground floor and the views of the waterfront or landscaped courtyard from most units.”

The strong buying interest at Regent’s View so far is an indication that more international investors are looking to invest in new projects in London’s city fringe neighborhoods in Zone 2, according to Summers. “As the prices of properties in central London continue to rise, savvy investors are turning to properties in Zone 2 for better rental returns,” he explains.…

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Knight Frank Singapore will be auctioning off a three-bedroom unit at Gambier Court, a boutique condominium located along Kim Yam Road in the prestigious River Valley area of District 9, on December 12. The guide price for the unit is $2.6 million, which translates to $1,755 per square foot based on its floor area of 1,485 sq ft.

According to caveats lodged, the current owner purchased the unit in a resale transaction for $1.8 million ($1,212 psf) in October 2018. This will be the second time the unit will be going up for auction, with its previous attempt at Knight Frank Singapore’s auction on November 26 featuring a higher guide price of $2.64 million ($1,778 psf), which failed to attract any bids.

Tricia Tan, director of auction and sales at Knight Frank, shared that the owner is selling the unit in order to relocate to a home closer to their children’s school. The property will be sold with vacant possession.

The eighth-floor unit features three bedrooms and a study area and was originally a four-bedroom apartment that was converted by a previous owner. Tan mentioned that the reconfigured space provides a more spacious layout, ideal for both local and expat families with children. The balcony of the unit faces northeast, offering unblocked views of the sea and Singapore River.

Comprising of 21 units, Gambier Court is a 99-year leasehold condominium that was completed in 1999. It consists of 18 apartments situated in a 10-storey block and three strata-landed units found in conserved shophouses. The apartments range from two- to four-bedrooms, with sizes ranging from 936 sq ft to 2,530 sq ft, while the three strata-landed units are two-storey properties with an attic, spanning from 2,562 sq ft to 2,885 sq ft.

The development is in close proximity to Fort Canning MRT Station on the Downtown Line and offers a variety of dining and shopping options, including the newly established lifestyle hub New Bahru at Kim Yam Road (formerly Nan Chiau High School), Robertson Quay, UE Square and Clarke Quay.

Singapore’s cityscape is known for its towering skyscrapers and contemporary infrastructure. In particular, condominiums are a prevalent sight in prime locations, offering a perfect combination of extravagance and convenience that attracts local residents and foreigners alike. These residential complexes boast a plethora of facilities including swimming pools, fitness centers, and top-notch security services, elevating the standard of living for residents and making them an alluring choice for potential renters and buyers. For investors, these luxurious amenities equate to higher rental returns and appreciation in property prices over time. To take advantage of these benefits, many individuals opt to invest in a Singapore Condo.

The most recent transaction at Gambier Court involved a four-bedroom unit on the seventh floor, measuring 1,485 sq ft, which was sold for $2.5 million ($1,683 psf) in December 2022, according to Realis caveats. The previous owner had bought the unit for $1.9 million ($1,279 psf) in August 2016, making a net profit of $600,000. Interested buyers can check out the latest listings for properties at Gambier Court.…

Gallop Gables, a freehold condominium, claimed the top spot for the highest psf-price between 19 and 22 November. In November 20, the four-bedroom unit on the second floor, sized at 2,669 sq ft, sold for $6.14 million, which works out to $2,299 psf. The initial seller, who bought the same unit on July 2017 for $4.5 million at $1,686 psf, making a whopping gain of $1.64 million on the transaction. The $2,299 psf psf high in November beat Gallop Gables’ previous record high of $2,108 psf with the sale of a two-bedroom unit on the third floor in February 2019 for $2.45 million.

The latest psf-price record of the freehold Gallop Gables was achieved from the sale of the apartment, sized at 2,669 sq ft, located at on Farrer Road, District 10, which sold for $6.14 million on November 20, 2021. The low-density development was completed in 1997, comprising of four-storey blocks consisting of 102 units right within walking distance from the Farrer Road MRT Station on the Circle Line. By the fourth quarter of November 20 and February 19, apart from the units sold from September 9, a 1,550 sq ft unit with two bedrooms on the first floor changed hands for $2.98 million, which works out to $1,923 psf. There were three resale transactions recorded this year at Gallop Gables at the average price of $2,110 psf, much higher than the average price from four transactions last year at the development which calculated to $1,991 psf. Additionally, the condo had previously yielded a record of $2,064 psf, which amounted to $380,000 net gain. In the first time, a unit had priced over $2,000 psf using the initial psf of $1,969 psf, which sold a 904 sq ft two-bedroom unit on the 11th floor, 1.78 million sold on September 9. It has seen a total of 16 resale transactions this year, priced at a value of $1,823 psf which is greater than the calculated averaged price of $1,688 psf recorded last year. The Scala condo on Serangoon Avenue 3 for the first time, achieved a new high on November 20 with the sale of the four-bedroom unit on the 12th floor at $2.6 million, which works out to $2,064 psf. In October 2012, this unit was bought at $1.66 million, which works out to $1,318 psf. The Scala is a 99-year leasehold condo which was built-in 2013, with units ranging from one- to four-bedroom, ranging in size from 474 sq ft to 2,142 sq ft. The 468 units spanned across 17 storeys between Lorong Chuan MRT station of Circle Line. It has been close to Lorong Chuan MRT Station of East-West Line, as well as the government educational institutions. In another district, as another freehold condo that also reached a new record of $1,907 psf, which was claimed in the period of review, Sims Edge, which was the sale of a 409 sq ft, one-bedroom unit on the 13th floor, amounted to $780,000 on November 22. Previously in April 2019, this seller had bought the unit at $663,807, which works out to $1,623 psf. Following The Scala for its past $1,900 psf record is Sims Edge, which achieved a $1,907 psf record. From the sale of a 409 sq ft one-bedroom unit on the fifth floor, $750,000 was sold on January 18. In another deal, from the developers in July 2011, the seller had bought the unit at $527,000, calculating to $1,288 psf. Sims Edge is a freehold condo situated on Geylang East Avenue 2 and was built in 2014, with 78 units comprising of one- to two-bedrooms, ranging at 409 sq ft to 1,195 sq ft. Another transaction has been recorded this year, priced at $1,800 psf, which is higher than the average calculated price of $1,644 psf for last year’s four transactions.There has been no new psf-price lows recorded during the period of review.

When contemplating an investment in a Singapore Condo, it’s crucial to also consider the potential rental yield. Rental yield refers to the annual rental income compared to the property’s purchase price. In Singapore Condos, rental yields 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 more desirable rental yields. To gain a better understanding of a specific condo’s rental potential, it’s essential to conduct thorough market research and seek guidance from reputable real estate agents.…

Investing in a condominium has various advantages, one of which is the option to leverage its value for additional investments. Numerous investors utilize their condos as collateral to secure financing for new investments, ultimately expanding their real estate portfolio. This approach can potentially enhance returns, but it also poses risks. Therefore, it is essential to have a solid financial plan and carefully consider the potential consequences of market fluctuations. To stay up-to-date with new opportunities, it is worth keeping an eye on new condo launches in the market.

The top condo resale transaction of the week occurred at Ardmore Park, with a four-bedroom unit measuring 2,885 sq ft fetching $11.25 million ($3,900 psf) on November 22. This represented a profitable resale deal for the seller, who had bought the unit in September 2016 for $8.2 million ($2,843 psf). The seller was able to earn a profit of $3.05 million, translating to a capital gain of 37% and an annualised profit of 4.6% over an eight-year holding period. This sale comes two months after another four-bedroom unit of the same size on the 23rd floor was sold for $12.7 million ($4,402 psf) on October 1. The seller had purchased this unit in September 2010 for $9.7 million ($3,363 psf), earning a profit of $3 million which reflects a capital gain of 30.9%.Ardmore Park is a freehold condo with 330 units located in the prime District 10 area of Ardmore Park. Completed in 2001, it comprises of three 30-storey towers and features mainly 2,885 sq ft four-bedroom units, with six 8,740 sq ft duplex penthouses. To date, there have been six profitable resale transactions this year, with prices ranging from $4,108 psf to $4,472 psf. The sellers have earned profits between $2.65 million and $7.07 million from these deals.The second most profitable condo resale transaction for the week was recorded at Goldenhill Park Condominium, with a four-bedroom apartment of 1,539 sq ft located on the 16th floor selling for $3.43 million ($2,228 psf) on November 21. The seller had purchased this unit directly from the developer in May 2001 for $1.14 million ($741 psf), resulting in a gain of $2.29 million or 201%. The seller had held this unit for 23 and a half years. This is the second-highest gain recorded at Goldenhill Park Condominium, with the highest being for a four-bedroom penthouse unit of 2,928 sq ft, which was sold for $4.3 million ($1,469 psf) in February 2022. The seller had purchased the unit in April 2001 for about $2 million ($683 psf) and earned a gain of $2.3 million.Goldenhill Park Condominium is a freehold development located on Mei Hwan Drive in District 20, off Ang Mo Kio Avenue 1. It was completed in 2004 with 390 units, comprising of two to four-bedroom apartments ranging from 926 sq ft to 2,928 sq ft. Five other profitable resale transactions have been recorded this year, with the units fetching between $2,082 psf and $2,246 psf, and the sellers earning profits of between $760,000 and $1.91 million.On the other hand, the week’s most unprofitable condo resale transaction took place at The Oceanfront @ Sentosa Cove, with a four-bedroom unit of 2,831 sq ft selling for $4.7 million ($1,660 psf) on November 20. This was a loss for the seller, who had purchased the unit in May 2007 for $5.8 million ($2,050 psf). This resulted in a loss of $1.1 million (19%) for the seller, after owning the unit for 17 and a half years. The Oceanfront @ Sentosa Cove is a condo within the exclusive Sentosa Cove residential enclave and is a 99-year leasehold development. Completed in 2010, it comprises of five towers between 12 and 15 storeys high with 264 units, consisting of two-to-four-bedroom apartments of 1,216 sq ft to 4,284 sq ft, and penthouses of 2,745 sq ft to 8,095 sq ft. There have been six other resale transactions at The Oceanfront @ Sentosa Cove this year, with the units sold for prices ranging from $1,500 psf to $1,999 psf. Four of these deals were unprofitable, with the sellers incurring losses between $30,000 and $519,000. The other two deals were profitable, with the sellers netting gains of about $268,000 and $1.7 million, respectively.…

Habyt, a leading co-living operator, has recently opened its newest accommodation space at 5 Kadayanallur Street in Tanjong Pagar. The new flagship space, called Kada at Maxwell, is part of Habyt’s new Habyt Flex concept, which expands the company’s offerings beyond long-term co-living.

In August, Habyt Asia Pacific CEO Jonathan Wong announced the company’s plans to provide more short-term living options in Singapore. The first properties under the Habyt Flex concept, Habyt Novena and Habyt Kallang, were launched in August. Other Habyt Flex properties include Habyt Cantonment and Owen House by Habyt.

Kada at Maxwell offers 18 rooms, including en suite studios and two- to three-bedroom units, all equipped with a kitchenette. Guests have the option to book rooms for a night, a week, or even on a 12-month basis.

According to Wong, Kada at Maxwell is a testament to Habyt’s commitment to redefine flexible living in Singapore and marks a new phase of development for Habyt Asia Pacific. Room rates at Kada at Maxwell start at $180 per night.

The flexible living space is located in a well-preserved 1920s colonial building designed by Swan & Maclaren, one of the earliest modernist buildings in Singapore. It was originally built as the St Andrew’s Mission Hospital for Women and Children.

In September 2023, the Singapore Land Authority (SLA) launched a public tender to lease the property. Bidders were evaluated based on the proposed concept and bid price, with SLA encouraging creative lifestyle concepts. The property was eventually awarded to Bethesda Medical, with a monthly rental bid of $103,000 – the third-highest bid price after Wan Dormitory ($160,000) and The Working Capitol ($108,240).

SLA cited Bethesda’s strong focus on community building and connecting people with businesses as the winning edge for their concept. The first floor of the building will feature 10 F&B offerings, while the second floor will have a gym operated by Limitless, a wellness centre in partnership with Shiruki Studio, and a co-working space. Kada at Maxwell will occupy the third floor.

Residents of Kada at Maxwell will have unlimited and complimentary access to the property’s health and wellness amenities, including a performance gym, cold plunge, infrared saunas, hot tubs, and foot baths.

Wong adds that by blending modern conveniences with the timeless charm of a heritage building, Habyt is offering guests a unique lifestyle experience that goes beyond traditional accommodation.

Condo investment in Singapore is a highly attractive option, but it’s important to take into account the government’s property cooling measures. Over the years, the Singaporean government has implemented various measures to discourage speculative buying and maintain a steady real estate market. These measures include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and individuals purchasing multiple properties. While they may impact the short-term profitability of condo investments, these measures ultimately contribute to the long-term stability of the market, creating a secure investment environment for individuals. With the inclusion of condos, these factors make Singapore a highly desirable location for property investment.…

The Urban Redevelopment Authority (URA) has recently released two residential sites, located at Holland Link and Chuan Grove, for tender on December 3rd. These sites, which are both 99-year leasehold and part of the Confirmed List in the 2H2024 Government Land Sale (GLS) Programme, are expected to yield a total of 785 new housing units.

The first site, located along Holland Link in District 10, spans 185,141 square feet and has an estimated maximum gross floor area (GFA) of 257,225 square feet. It is predicted to have the potential for about 230 residential units based on URA estimates. The site is situated in the upcoming Holland Plan precinct, one of URA’s three upcoming areas alongside Bayshore and Kampong Bugis. Marcus Chu, CEO of ERA Singapore, notes that this precinct is estimated to house about 2,500 new homes.

Chu anticipates developers to eagerly bid on the Holland Link site in order to gain a first-mover advantage by being the first to introduce 230 units into the pipeline. The site’s location within a 2-kilometre radius of several reputable schools, including Methodist Girls’ School (Primary and Secondary), Henry Park Primary School, Pei Hwa Presbyterian Primary School, and National Junior College, is also seen as a plus factor for families with young children looking for priority admission into these schools.

The Holland Link site is also in close proximity to the Brizay Park Good Class Bungalow area, leading to the prediction that its future development will focus on low-density private residences. Mark Yip, CEO of Huttons Asia, believes that the site will receive between one and two bids, with a top bid ranging from $1,200 to $1,300 per square foot per plot ratio (psf ppr). Similarly, Chu predicts a muted response to the site, with a possible maximum of three bids, as there are currently seven residential sites open for tender, potentially leading to saturation in the tender process.

The second site, located along Chuan Grove in District 19, spans 170,409 square feet and has an estimated maximum GFA of 511,232 square feet. It is expected to yield about 555 new housing units. The site is located within 400 metres of Lorong Chuan MRT Station on the Circle Line, which is one stop away from the Bishan MRT Station (interchange with the North-South Line) and the Serangoon MRT Station (interchange with the North-East Line).

Chu predicts that the future development on this site will attract HDB upgraders living in the vicinity. In the next four years, an estimated 3,815 four-room and larger Build-to-Order (BTO) units will fulfill their Mandatory Occupation Period (MOP) in Toa Payoh. Chu adds that residents in older HDB estates may seek to upgrade their homes due to the increasing number of million-dollar flats in neighbouring Serangoon, Bishan, and Toa Payoh. The median transaction prices for five-room flats in these areas over the last 10 months were $792,000 and $828,000, respectively.

When contemplating an investment in a Singapore condo, it is crucial to also evaluate its potential rental yield. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, 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, tend to offer more favorable rental yields. Conducting thorough market research and seeking advice from real estate agents can provide valuable insights into the rental potential of a specific condo.

Chu also notes that the better-than-expected sales performance at Chuan Park, with 76% of its 916 units sold at an average price of $2,579 psf during its launch weekend, could also encourage developers to bid for the Chuan Grove site. He predicts that the bids for this site could range from $571 million to $600 million, which translates to a land rate upwards of $1,200 psf ppr. Yip, on the other hand, predicts a total of three to five bids for this site, with a top bid between $1,150 and $1,250 psf ppr.

Interested parties may submit their tenders for the Chuan Grove site until noon on July 8, 2025, and for the Holland Link site until noon on July 29, 2025.…

Under the Reserved List of the 2H2024 GLS Programme, the Urban Redevelopment Authority (URA) has released two residential Government Land Sale (GLS) sites on Dec 3. Developers can now apply for the Holland Plain and River Valley Green (Parcel C) sites and the government will trigger a sale if a developer indicates a minimum price that is accepted. In addition, a Reserved List site may also be considered for a tender launch if more than one developer submits a minimum price close to the government’s reserve price.

The Holland Plain GLS site spans approximately 169,175 sq ft and has a maximum gross floor area (GFA) of around 304,522 sq ft, which can potentially accommodate 280 residential units. This site has a 99-year leasehold and is located next to the Holland Link GLS site, which was recently launched for tender on Dec 3. The Holland Plain site property can accommodate an estimated 230 units.

According to Huttons Asia CEO Mark Yip, the response to the Holland Link GLS site will dictate the likelihood of the Holland Plain site being triggered for sale. He believes that developers would want to see how the market reacts before submitting a minimum price, and the tender for the latter site closes in July 2025.

Next to the Great World MRT Station on the Thomson-East Coast Line, the River Valley Green (Parcel C) site is a 99-year leasehold property that covers 123,964 sq ft, with a maximum GFA of 433,882 sq ft. This site can accommodate an estimated 470 new housing units.

Yip forecasts that the River Valley Green (Parcel C) site is also unlikely to be triggered for sale, given that there is an existing tender for the neighbouring River Valley Green (Parcel B) plot which will close in February next year. This site can potentially yield 580 units, including 220 long-stay serviced apartments.

The River Valley Green (Parcel A) was awarded to Winchamp Investment, a subsidiary of Wing Tai Holdings, in June after submitting the top bid of $464 million, or $1,325 psf per plot ratio (psf ppr). This site will be developed into a residential development with more than 400 units.

Investing in real estate is a strategic decision, and the location plays a crucial role in its success. This is especially true for the city-state of Singapore. When looking for a condo in Singapore, it is essential to consider its location carefully. Condos that are situated in central areas or close to important amenities like schools, shopping centers, and public transportation hubs have a higher chance of appreciating in value. Some of the prime locations in Singapore that have consistently shown growth in property values include Orchard Road, Marina Bay, and the Central Business District (CBD). Families also prioritize condos in these areas due to their proximity to good schools and educational institutions, making them highly desirable investments with excellent potential.

In April, Zion Road (Parcel A) was awarded to a joint venture between City Developments and Mitsui Fudosan after submitting the sole bid of $1.107 billion ($1,202 psf ppr). The joint venture intends to create a mixed-use project at the site, featuring around 740 residential units, a retail podium, and a block with 290 rental apartment units.

Meanwhile, Allgreen Properties clinched the Zion Road (Parcel B) site in August for $730.09 million ($1,304 psf ppr). This site is capable of accommodating approximately 610 residential units.

As there is already a significant supply of upcoming units from the three aforementioned sites, developers will likely have “little incentive” to trigger a sale for the River Valley Green (Parcel C) site, according to Yip.…