Condo Gine Star Fruits

The latest Brand Finance Global City Index has revealed that Singapore has risen to become the sixth-highest city in the world in terms of branding. This index, published by a London-based consultancy, evaluates cities based on their brand power and public perception.

The survey, which was conducted in September and involved 15,000 individuals from 20 countries, ranked 100 cities based on key performance indicators such as livability, business and investment opportunities, culture and heritage, and retirement options. Respondents were also asked to associate particular attributes with each city from a list of 45, grouped under seven pillars.

Singapore’s cityscape is characterized by towering skyscrapers and advanced infrastructure. Condominiums, typically situated in sought-after locations, offer a fusion of lavishness and practicality that appeals to both locals and foreigners. These properties boast a plethora of facilities like pools, fitness centers, and security measures, elevating the standard of living and making them desirable to prospective renters and purchasers. In terms of investment, these perks lead to greater rental returns and appreciation of property values in the long run. Additionally, Singapore Projects add to the appeal of these condominiums, making them even more attractive to potential buyers.

Singapore’s overall ranking was boosted by its strong performance in the business and investment pillar, where it secured the third spot globally. This was due to its ease of doing business, strong economy, and supportive environment for start-ups. The city also scored well in terms of low crime and violence.

Managing Director for Asia Pacific at Brand Finance, Alex Haigh, describes Singapore as the “crown jewel” of the Asean region when it comes to city branding. He attributes this to the city’s strong economic growth, appeal to investors, and world-class infrastructure. This has solidified Singapore’s position as a premier global financial center.

However, London was able to retain its top spot as the world’s leading city brand, followed closely by New York, Paris, Tokyo, and Dubai. Singapore’s rise in the rankings reflects its continuous efforts to enhance its brand and improve the quality of life for its residents.…

There were several new record-breaking psf prices set in the condo market from Nov 1 to Nov 10. One of the standout developments was the freehold K Suites, which achieved a new high of $2,443 psf with the sale of an 872 sq ft three-bedroom unit for $2.13 million on Nov 8. This surpassed the previous record of $2,196 psf set in May 2023.The 19 Nassim condo saw a new psf-price low of $2,947 psf during the period in review, with the sale of a 646 sq ft one-bedroom unit for about $1.9 million on Nov 9. This is the first time that the development has fallen below the $3,000 psf mark, beating the previous low of $3,001 psf set in March 22.The luxury condo Thomson Three also recorded a new high of $2,379 psf with the sale of a 1,033 sq ft three-bedroom unit on Nov 6. The seller had bought the unit for $1.86 million in a resale transaction in Nov 2014, making a net profit of $598,000.
A boutique development in Singapore, K Suites, has made headlines by achieving a new record of $2,443 psf for a freehold property. The sale of an 872 sq ft three-bedroom unit on the fourth floor for $2.13 million on Nov 8 marks the first time the condo has surpassed the $2,400 psf mark, beating its previous high of $2,196 psf in 2023.

Located in District 15, along Lorong K Telok Kurau, K Suites is a freehold development currently under construction. With a five-storey apartment block containing 19 units, it was redeveloped from the former Ji Liang Gardens, a collection of six terraced houses that were purchased en bloc for $18.6 million in June 2021.

The units at K Suites range from three to four bedrooms, with sizes between 797 sq ft and 1,270 sq ft. There is also a four-bedroom duplex penthouse measuring 1,389 sq ft, as well as three five-bedroom duplex penthouses ranging from 1,625 sq ft to 1,679 sq ft.

When it comes to investing in condominiums in Singapore, one must also take into account the government’s property cooling measures. In order to maintain a stable real estate market and discourage speculation, the Singaporean government has implemented various measures over the years. This includes the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may affect the immediate profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a safer investment environment. As a result, projects such as Singapore Projects are reliable investments worth considering.

Since April 2023, when residences at the development first went on sale, K Suites has seen a total of eight units sold, making up 42% of the development. The average price achieved for these units is $2,099 psf.

Thomson Three, a luxury condo in District 20, also saw a new high during the period in review. A 1,033 sq ft three-bedroom unit on the 19th floor was sold for $2.46 million on Nov 6, translating to $2,379 psf. The seller had previously bought the unit in 2014 for $1.86 million ($1,800 psf), making a net profit of $598,000.

This marks the first time Thomson Three has crossed the $2,300 psf mark, surpassing its previous high of $2,204 psf set in September 26. The condo, located on Bright Hill Drive, consists of 435 99-year leasehold units across 21 storeys. Ranging from one to four bedrooms, they measure between 495 sq ft and 1,485 sq ft and also feature 10 strata semi-detached houses, each measuring 3,283 sq ft.

Thomson Three is within walking distance of the Upper Thomson MRT Station on the Thomson-East Coast Line and is also close to Ai Tong School (Primary).

On the other end of the spectrum, luxury condo 19 Nassim saw a new psf-price low of $2,947 psf during the same period. This was achieved through the sale of a 646 sq ft one-bedroom unit on the fourth floor for approximately $1.9 million on Nov 9.

This is the first time that the development has dropped below the $3,000 psf mark, beating its previous record low of $3,001 psf set in March 22. 19 Nassim consists of 101 99-year leasehold units and was completed in 2023. Units range from 538 sq ft to 1,830 sq ft, with one to three bedrooms. According to URA caveats, the condo has sold 61 units (or 60% of its total) since it first launched for sale in 2020.

During the period in review, 19 Nassim was the only condo to achieve a new psf-price low, while several other developments reached new highs. These record-breaking prices demonstrate the strong demand for properties in the Singapore condo market.…

In the midst of the bustling private residential market, it would be wise for real estate investors to consider more stable, income-generating assets such as HDB shophouses. An opportunity has just emerged to acquire one of these highly sought-after properties in the well-established Toa Payoh neighborhood.

Spanning 1,478 square feet, this HDB shophouse is located at 125 Toa Payoh Lorong 1, a prime location in District 12. It is currently available for purchase at $2.88 million and situated on a prized site bordered by Toa Payoh Lorong 1 and Toa Payoh Lorong 2. The property is also within a short 200m distance from Braddell MRT Station, which serves approximately 13,000 MRT riders daily, making it an attractive location for potential tenants.

Conveniently located near Toa Payoh West Market and Food Court, Kheng Cheng School, Toa Payoh West Community Centre, and the Singapore Federation of Chinese Clan Associations Building on Toa Payoh Lorong 2, this shophouse is in close proximity to essential amenities and facilities.

With a series of rejuvenation plans for the Toa Payoh neighborhood in the works and a growing number of households moving into the area, the new owner of this shophouse stands to benefit from the transformation of the neighborhood. As pedestrian footfall increases and capital values are expected to rise, this property presents an excellent investment opportunity.

Market Comparison
Marketing exclusively by seasoned industry veteran, Aster See, senior marketing director at ERA Realty, most HDB shophouses located in the city fringe areas typically yield a rental return of income (ROI) of 2-3% based on their sales price. However, the shophouse at 125 Toa Payoh Lorong 1 boasts an estimated ROI of approximately 4%, making it a more attractive investment compared to its counterparts in terms of pricing and value.

Financial Insights
Apart from its attractive ROI, this property also offers a competitive rental yield of approximately 4%, which is an excellent and stable source of income for investors. With the potential for future capital appreciation as Toa Payoh continues to rejuvenate, the long-term ROI of this property could be significant.

Remaking Toa Payoh
Toa Payoh stands to benefit from several government initiatives and schemes to revitalize the mature housing estate. It is one of the three neighborhoods identified for rejuvenation under the government’s third phase of the Remaking Our Heartland program. This program, first introduced by the then-Prime Minister Lee Hsien Loong during his 2007 National Day Rally speech, offers comprehensive rejuvenation plans for HDB towns and estates to ensure their sustainability and vitality.

When purchasing a condo, it is imperative to take into account the maintenance and management responsibilities associated with the property. Condos typically come with maintenance fees that cover the upkeep of shared spaces and amenities. Despite potentially increasing the overall cost of ownership, these fees play a critical role in preserving the property’s condition and value. To make the investment more passive, investors can enlist the help of a property management company to handle the daily management tasks of their condo. Additionally, keeping an eye out for new condo launches can also be beneficial in finding a well-maintained and managed property.

Since 2015, Toa Payoh has been undergoing a series of progressive developments, including the enhancement of commercial and recreational facilities. The most notable of these developments is the upcoming integrated project on the site of the former swimming complex, sports hall, and stadium along Toa Payoh Lorong 6.

The integrated development will feature new sports facilities, a football stadium, a new swimming pool complex, indoor sports halls, sheltered tennis courts, futsal courts, netball courts, and fitness studios. It is also set to house national training centers for aquatics, netball, and table tennis, along with a polyclinic and library. With an estimated completion date of 2030, this 12-hectare development is expected to boost Toa Payoh’s appeal as an HDB town and drive up footfall for businesses in the area, including the HDB shophouse for sale at 125 Toa Payoh Lorong 1.

Toa Payoh and Caldecott Rejuvenation
Besides Toa Payoh, the government has also planned for the rejuvenation of Caldecott, a nearby neighborhood, by introducing several thousand new flats. One such upcoming project is the Toa Payoh Ridge, located at the junction of Toa Payoh Rise and Lorong 1 Toa Payoh. This 920-unit project was launched as part of the February 2020 BTO exercise and is less than 300m from the HDB shophouse for sale.

Expected to be completed in the first half of 2025, Toa Payoh Ridge comprises four 40-storey residential blocks and is situated between Toa Payoh and the upcoming Caldecott estate slated for future residential development. In 2017, the government announced plans to build new BTO flats on a 10-hectare plot next to Caldecott MRT Station on the Circle Line. These upcoming flats will be less than 500m from the HDB shophouse for sale at 125 Toa Payoh Lorong 1.

With the URA rezoning a plot at the junction of Toa Payoh Rise and Braddell Rise from educational to residential use in February, it appears that the government is laying the groundwork for a new BTO project in Caldecott, which is adjacent to Toa Payoh Ridge. This suggests the possibility of a high-rise BTO development in the site’s pipeline, supported by surrounding developments, which could increase footfall and broaden the consumer catchment around the HDB shophouse at 125 Toa Payoh Lorong 1.

In conclusion, the ongoing and upcoming developments in Toa Payoh and Caldecott present a promising outlook for the new owner of the HDB shophouse for sale. As the number of residential developments in the area increases, so will the number of potential residents and customers, making this shophouse an excellent investment opportunity.

For more information, please contact Aster See at 98416930, a senior marketing director (R063006G) at ERA Realty Network Pte Ltd.

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Eight HDB shophouse units at Bras Basah, Geylang, and Kallang available for sale starting from $19.5 million
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HDB shop at Teck Whye Lane on the market for $4.45 million…

Industrial property demand remains resilient in 2H2024″JTC has awarded the industrial GLS site at Kallang Way to CapitaLand Development, which submitted the top bid of $368.901 million. This bid is 14.9% higher than the second highest bid of $317.889 million from a consortium of Soon Hock Group, BHCC Construction and Evermega. This is the first adaptive reuse of a former industrial building in Singapore. The site currently has an existing terrace factory that will be retained and adapted for continued industrial use. The integration of adaptive reuse aims to rejuvenate the area sustainably and reduce carbon emissions while preserving the site’s industrial legacy, according to Tang Hsiao Ling, director of urban planning and architecture division at JTC. This site, which is the last of five Confirmed List sites in the 1H2024 IGLS programme, was launched on June 25 and received four bids at the close of the tender on Oct 1. Zoned Business 2 under the master plan, the 474,772 sq ft site has a maximum allowable gross floor area of 1.23 million sq ft and a 33-year tenure. The designated food zone will feature food manufacturing spaces and retail uses in order to inject vibrancy into the area.”

The decision to invest in a Singapore Condo has become increasingly popular, but it is not one that should be made lightly. There are several important factors to consider before taking the plunge, with the government’s measures to regulate the real estate market being a crucial one. Over the years, the Singaporean government has implemented various cooling measures in an effort to deter speculative buying and promote a stable property market. One such measure is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and individuals purchasing multiple properties. While these measures may have an impact on the immediate profitability of investing in a Singapore Condo, they also play a significant role in maintaining the long-term stability of the market. This, in turn, creates a more secure environment for investors and ensures the sustainability of the market. Thus, it is essential to thoroughly understand and consider these regulations when contemplating a Singapore Condo investment. In conclusion, investing in a Singapore Condo can be a lucrative opportunity, but it is crucial to carefully analyze the market and take into account all relevant factors, including the government’s cooling measures.…

In summary, purchasing a condo in Singapore comes with a multitude of benefits, including a strong demand, potential for increased value over time, and attractive rental yields. However, it is crucial to take into account various factors such as the condo’s location, financing options, government regulations, and current market conditions. By conducting thorough research and seeking guidance from experts, individuals can make well-informed decisions and maximize their returns in Singapore’s ever-evolving real estate market. Whether you are a local investor looking to expand your portfolio or a foreign buyer seeking a stable and lucrative investment, condos in Singapore offer a compelling opportunity for success.

An 11-million-dollar coffee shop located at 253 Choa Chu Kang Ave 1 is now available for sale through an expression of interest (EOI). This two-storey HDB commercial development, known as Keat Hong Shopping Centre, includes a variety of shops and stalls, such as coffee shops, a supermarket, and more. The spacious coffee shop occupies 2,540 sq ft of the property on the ground floor.

Offering a 99-year leasehold tenure, with 68 years remaining, the property is zoned for commercial use. The coffee shop is currently leased to a coffee shop operator, featuring seven food stalls and a drink stall. According to Jervis Isaiah Ng, founder of JNA Real Estate, a team under PropNex Realty and the exclusive marketing agent for the property, potential buyers could either choose to operate the coffee shop themselves, renovate and lease it out, or continue leasing it to coffee shop operators.

This property also comes with the benefit of being exempt from Additional Buyer’s Stamp Duty, as it does not contain any living quarters. Keat Hong Shopping Centre is situated within walking distance from South View LRT Station on the Bukit Panjang LRT Line and the upcoming Choa Chu Kang West MRT Station on the Jurong Region Line which is expected to be completed by 2027. Other amenities, including Choa Chu Kang Primary School and the recently renovated Choa Chu Kang West Market, can also be found nearby.

Interested buyers can submit their expression of interest by December 22 at 3pm.…

When considering investing in a condo, it is crucial to also evaluate the potential rental yield. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, condos can have vastly different rental yields depending on factors such as their location, condition, and demand in the market. For instance, areas near business districts or educational institutions often have a higher rental demand and thus offer better rental yields. To determine the rental potential of a particular condo, it is essential to conduct thorough market research and seek guidance from real estate agents. Additionally, staying updated on new condo launches can provide useful insights into the current rental market.

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On November 19, Keppel announced its plan to sell a data centre joint venture (JV) to Keppel DC REIT (KDC REIT) for a total of $1.38 billion. The JV, which is owned 60% by Keppel’s connectivity division and 40% by Cuscaden Peak Investments Private Limited, owns the Keppel Data Centre Campus in Singapore. The campus includes two completed data centres, Keppel DC Singapore 7 (KDC SGP 7) and Keppel DC Singapore 8 (KDC SGP 8), which are fully contracted to global hyperscalers from the cloud services, internet enterprise, and telecommunications sectors. KDC SGP 7 and KDC SGP 8 were funded by the JV, Keppel’s private fund Alpha Data Centre Fund, and co-investors. Upon completion of the sale, KDC REIT will fully own both data centres, and Keppel will continue to operate and manage them. KDC REIT will initially acquire a 49% interest in the JV and will have the option to buy the remaining 51% from Keppel in 2025. The proposed deal is expected to be accretive to KDC REIT’s distribution per unit (DPU) by 8.1% and will increase its assets under management (AUM) by 36% to $5.2 billion. Keppel will receive around $280 million from the divestment, which includes the estimated consideration for its 51% stake in the JV and additional payments depending on the campus being granted a 10-year land tenure lease extension. The JV also owns a vacant land plot earmarked for a third data centre, which Keppel plans to develop with its two data centre private funds. Manjot Singh Mann, CEO of Keppel’s connectivity division, says that the deal highlights the company’s ability to structure deals that result in strong value creation for its private funds and REIT. He adds that Keppel’s integrated ecosystem provides access to crucial resources and technology know-how, which are essential for success in the data centre business. Loh Hwee Long, CEO of KDC REIT’s manager, says the REIT is thrilled to embark on this “landmark deal” during its 10th anniversary. He adds that the proposed acquisition will immediately increase DPU and enhance the portfolio’s income resilience as well as provide potential upside from rental increases and capacity expansion. The deal is expected to be completed in stages by the end of 2025.…

The redevelopment of Robertson Walk and Fraser Place Robertson, held under Frasers Property’s 999-year lease, is set to commence next year. Frasers Property and Sekisui House, regular partners, have joined forces to transform the site into a new mixed-use development.

The new development will consist of 348 residential units, as well as a variety of dining options and entertainment facilities. With a gross floor area of 30,664 sqm (330,067 sq ft), the project is expected to be completed by the end of 2028.

According to Soon Su Lin, CEO of Frasers Property Singapore, this redevelopment is part of the company’s active asset management strategy. She states, “We have recognized the potential of this prime 999-year site in the bustling Robertson Quay and aim to unlock its highest and best use returns.”

The joint venture between Frasers Property and Sekisui House, with a 51:49 ratio, is a testament to the strong partnership between the two companies. The Frasers Property Group will continue to manage operations at Robertson Walk and Fraser Place Robertson until May 31, 2025.

In summary, there are several benefits to be gained from investing in a Singapore condo, including high demand, potential for capital appreciation, and attractive rental yields. However, it is crucial to carefully consider factors like location, financing options, government regulations, and market conditions before making a decision. Through thorough research and seeking professional guidance, investors can make well-informed choices and maximize their returns in the dynamic real estate market of Singapore. Whether you are a local investor looking to diversify your portfolio or a foreign buyer in search of a stable and profitable investment, a Singapore condo from Singapore Condo presents a compelling opportunity.…

The Singapore Land Authority (SLA) recently awarded tenders for two sites located on Henderson Road and Scotts Road. The tender for the site at 98 Henderson Road was awarded to a joint venture between dormitory and accommodation provider TS Group and co-living operator The Assembly Place (TAP). The JV plans to develop the site into a senior co-living accommodation with the collaboration of Crawfurd Silver Care, the geriatric arm of Crawfurd Hospital. The initial lease for the property is for four years, with an option to extend for another three years.

In June, SLA launched a price-quality tender for these state-owned properties, inviting interested parties to submit senior co-living proposals for their rejuvenation. The tender closed in August, receiving a total of six bids. The winning bid of $102,888 per month is 25.5% higher than the second-highest bid of $82,000 per month submitted by Eco Energy, a construction and property development company. Other bids came from ISG Marketplace ($73,000 per month), Red Crowns Senior Living ($56,000 per month), Viplas Engineering ($28,800 per month), and Samwoh Corporation ($21,889 per month).

Previously operated as a student hostel by Yo:ha, a Singapore-based accommodation operator, the 77,551 square feet Henderson Road site consists of a four-storey building, a single-storey building, and a guardhouse. It also has eight parking spaces and a total gross floor area of approximately 40,361 square feet. According to a SLA post on LinkedIn dated November 18, the site will offer fitted apartment units, sports and recreational facilities, as well as hobby-focused spaces and programmes.

SLA is currently exploring the adaptive reuse of other asset classes of state properties for unique co-living environments, including a potential site that comprises a cluster of heritage bungalows at Admiralty. In another development, the site consisting of three single-storey heritage bungalows located at 31, 31A, and 33 Scotts Road was awarded to Heritage At Scotts, a company that curates and manages select F&B brands in Singapore. The company submitted the sole monthly rental bid of $50,000 when the price-quality tender closed on August 7.

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When it comes to investing in real estate, location is key, and this is especially crucial in Singapore. Condominiums situated in central areas or close to essential amenities such as schools, shopping centers, and public transportation hubs have a higher chance of appreciating in value. Prime locations in Singapore, like Orchard Road, Marina Bay, and the Central Business District (CBD), have seen a consistent growth in property value. Additionally, the proximity to reputable schools and educational institutions also increases the desirability of condos in these areas, making them a popular choice for families looking to invest in real estate. This trend is reflected in the Singapore Projects that demonstrate the potential for high returns on investments in these prime locations.

Launched on June 14 in collaboration with the Singapore Tourism Board, the tender for the trio of colonial-era bungalows is for a creative lifestyle concept such as experiential retail, F&B, wellness, or beauty concepts. These three bungalows are situated on a 36,670 square feet plot facing Scotts Road with a total gross floor area of approximately 11,410 square feet. The properties have a five-year tenure with an option to extend for an additional four years.

According to SLA, Heritage At Scotts currently operates lifestyle offerings within neighboring black-and-white bungalows at 27, 29, 35, and 35A Scotts Road. The bungalows at 31, 31A, and 33 Scotts Road will merge with Heritage At Scotts’ existing offerings to create a larger lifestyle enclave. The integrated compound will include a dedicated walkway linking the various properties and landscaped social spaces. SLA also mentions that Singapore’s co-living sector has attracted investor interest, according to CBRE, in the living sector in the Asia-Pacific region.…

CBRE has recently announced the appointment of Hugh Macdonald as the new head of capital advisors for Asia Pacific (Apac). Macdonald, who comes with over 20 years of experience in the banking industry, has a strong background in investment banking, particularly in the real estate, gaming, leisure, and lodging sectors. He was previously with Deutsche Bank, where he held the position of head of investment banking coverage and advisory for Australia and New Zealand.

Investing in a Singapore condo presents a plethora of benefits, making it a highly sought-after option in the real estate market. Its advantageous features include a robust demand, potential for significant appreciation in value, and promising rental yields. However, it is crucial to consider various factors, such as location, financing, government regulations, and market conditions, before finalizing a condo investment. By conducting thorough research and consulting with professionals, investors can make well-informed decisions and reap maximum returns in Singapore’s ever-evolving property market. With its stability and profitability, Singapore condos are a lucrative opportunity for both local portfolios diversification and foreign buyers seeking profitable investments. To learn more about Singapore condos, you can visit Singapore Condo.

In his new role, Macdonald will report to Leo van den Thillart, global head of investment banking, and Greg Hyland, head of capital markets for Apac. He will start his new position in Sydney before relocating to Singapore in the first quarter of 2025.

This news follows the recent appointment of Virginia Huang as the new managing director for north and east China at Knight Frank.…

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Investing in a condo in Singapore offers numerous advantages, one of the most noteworthy being the potential for capital appreciation. As a global business hub with robust economic fundamentals, Singapore attracts a constant demand for real estate. Over the years, property prices in the country have consistently shown an upward trajectory, with condos in prime locations experiencing significant appreciation. Savvy investors who carefully time their market entry and hold onto their properties for the long run can reap substantial gains from capital appreciation.

Emerald of Katong has recorded exceptional sales during its launch weekend, with 98.7% of its units (835 out of 846) sold by developer Sim Lian Group in just two days. The VIP sales on Nov 15 saw 47% of units (401) taken up, followed by another 434 units on Nov 16. The average price for units sold over the weekend stood at $2,621 per square foot (psf). Sim Lian Group declined to comment on the sales.

According to Mark Yip, CEO of Huttons Asia, “It probably holds the record for the most number of units sold in a day, besting J’Gateway’s 738 units in June 2013.” Only eleven units remain available at Emerald of Katong, consisting of nine one-bedroom units and two five-bedroom units. All two-, three-, and four-bedroom units have been sold out. Yip notes that buyers were particularly interested in larger units with either a study or flex layout, as they were likely purchasing for owner-occupation and needed the extra space to suit their lifestyle needs.

To get the latest information on available units and prices at Emerald of Katong, check out the advertisement for the development.

According to Lee Liat Yeang, the real estate senior partner of Dentons Rodyk & Davidson LLP, the developer’s lawyers, Emerald of Katong can be considered the top-selling project of 2024 in terms of both the number of units sold and the percentage sold during its launch weekend. The sales performance of the 99-year leasehold project, located at Jalan Tembusu in District 15, is particularly impressive as it was launched on the same weekend as two other projects.

Nava Grove, a 99-year leasehold development by MCL Land and Sinarmas Land, reportedly sold 359 units on Nov 16, representing 65% of its total units. On the same day, Novo Place, a 504-unit executive condominium (EC) at Plantation Close in Tengah, by joint developers Hoi Hup Realty and Sunway Developments, is said to have achieved a 57% sales rate. These three projects conclude an unprecedented six new residential projects (including the EC project) launched over the past fortnight.

“We were initially concerned that launching six projects within 14 days might result in some of them being overshadowed by others,” says Ismail Gafoor, CEO of PropNex. However, he adds, “with 3,551 units on offer, homebuyers had the opportunity to visit all the developments before choosing their preferred one.” Gafoor believes that having multiple options in a short period of time actually helped buyers make decisions more quickly, and that the interest may not have been as intense if the launches had been spread out over two months. He also points out that Kingsford Group moved forward the launch of the 916-unit, 99-year leasehold Chuan Park to Nov 10 from Nov 16, also helping to draw more interest to the various projects.

Nava Grove achieved a sales rate of 65% during its launch weekend, at an average price of $2,448 psf. Meanwhile, Chuan Park, which sold 696 units (76% of its total units) in a single day, recorded an average price of $2,579 psf.

One of the factors contributing to the strong sales at Emerald of Katong was the developer’s decision to hold prices steady throughout its launch day, despite the overwhelming response. A total of 3,629 expression of interest (EOI) cheques were collected, which translates to the project being 4.3 times oversubscribed. “Sim Lian did not raise their selling prices from the initial price list,” says Gafoor. “It reassured buyers and their agents that they still had an opportunity to secure a unit at the same price, even if their queue number was as high as 3,000.”

According to figures from caveats lodged, District 15 has always been among the top districts to live in Singapore, notes Yip. “The East Coast lifestyle and the limited number of large projects attracted buyers to Emerald of Katong,” he says. Yip adds that compared to other new projects in the Rest of Central Region (RCR), which have a median price of $2,955 psf, the starting price for units at Emerald of Katong, which starts from $2,423 psf, is very attractive. Marcus Chu, CEO of ERA Singapore, agrees, saying that buyers who were unable to secure a unit at Emerald of Katong turned to other major condo projects in the vicinity, notably the three projects launched last year: the 1,008-unit, 99-year leasehold Grand Dunman; the 638-unit, 99-year leasehold Tembusu Grand; and the 816-unit, freehold The Continuum. “All three recorded good sales on Saturday,” according to Huttons’ Yip. From Nov 11 to 16, The Continuum is reported to have registered 22 new sales, while Tembusu Grand saw 12 units sold, and Grand Dunman recorded five new sales.

Huttons’ Yip attributes the strong sales momentum to “better economic growth and cuts in interest rates”, which have attracted more buyers to the new homes market due to their improved borrowing capacity. He adds that lower returns from other investment assets may have encouraged more buyers to consider property as a preferred investment.

Huttons estimates that developers’ sales in November will reach up to 2,200 units, approaching the levels recorded in March 2013, when 2,793 units were sold. On-the-ground observations also indicate a growing number of prospective local and foreign buyers utilizing trust structures to acquire homes for their children, notes Yip. He believes that this trend reflects rising wealth among local buyers and an influx of overseas funds into Singapore. According to figures from the Monetary Authority of Singapore (MAS), the number of single-family offices grew to 1,650 as of August 2024, which is an increase of 250 from the end of 2023. During the same period, the M1 money supply, which includes cash, demand deposits, and other liquid deposits, rose by $10.2 billion in the first nine months of 2024.…