Month: January 2025

Roxy-Pacific Holdings’ executive chairman, Teo Hong Lim, recently announced that its freehold condominium, Bagnall Haus, saw strong demand on its launch day. Out of the 113 residential units available, 71 were snapped up, translating to a sales rate of almost 63% with an average price of $2,490 per square foot. Majority of the buyers, over 90%, were local Singaporeans, with most of them being end-users with varying budgets. Demand was strong for all unit types, with two- and three-bedroom units being the most popular, but there were also buyers interested in the larger five-bedroom units. Bagnall Haus is situated in District 16 along Upper East Coast Road and occupies 74,280 square feet of freehold land. This development comprises of three five-storey blocks and offers a mix of one-bedroom plus flexi units of 495 square feet and five-bedroom units of 1,528 square feet.

The demand for condominiums in Singapore remains consistently high, largely due to the limited availability of land. As a small island nation with a rapidly expanding population, Singapore faces the challenge of land scarcity for development. This has resulted in strict regulations on land use and a fiercely competitive real estate market, constantly driving up property prices. As a result, investing in real estate, particularly in the condominium sector, presents a lucrative opportunity with the potential for significant capital growth. In fact, Singapore condos have become a sought-after investment choice for many savvy individuals and businesses, in light of these factors.

When PropNex CEO, Ismail Gafoor, analyzed the sales at Bagnall Haus, he found that 59% of the units sold were one- and two-bedroom units, which were priced just under $2.1 million. He also added that the three-bedroom units were also in high demand, as 18 out of 20 were sold at prices ranging from $2.3 million to $2.7 million. The remaining four- and five-bedroom units were sold for around $3 million to $3.8 million. Gafoor believes that the pricing, particularly in the sweet spot of under $3 million, is appealing to most buyers. The average price of $2,490 per square foot is also considered compelling for a well-located freehold development. Gafoor noted that this pricing was attractive, especially when compared to some 99-year leasehold new launches in the Outside Central Region (OCR), such as Chuan Park, which was launched in November 2024 at an average price of $2,579 per square foot.

Also of note, the two strata-titled shop units on the ground floor of Bagnall Haus, measuring 172 square feet each, were sold for $688,000 each, or $4,000 per square foot. According to ERA Singapore CEO, Marcus Chu, the majority of buyers were owner-occupiers, including some homeowners looking to downsize from older landed properties and families from the neighborhood seeking to upgrade to a freehold property. Bagnall Haus is within a 1km radius of reputable schools such as Temasek Primary School. In addition, the upcoming Sungei Bedok MRT Station, serving the Downtown and Thomson-East Coast lines, is within walking distance of the development, adding to its appeal. It is just one stop from Bedok South MRT Station, which will be part of a mixed-use development featuring a bus interchange and retail and residential components in the upcoming Bayshore precinct.

Huttons Asia CEO, Mark Yip, believes that Bagnall Haus saw strong demand due to pent-up demand from a 15-year wait for a new project in the area, as well as its freehold tenure. He adds that it is rare to find a freehold project next to an MRT station, and buyers recognized the potential benefits of the upcoming transformation of the Bayshore precinct.…

The article has been rewritten as follows:During the week of December 27 to January 3, Commonwealth Towers emerged as the top private non-landed property to set a new psf-price peak. The 99-year leasehold condominium achieved a new record high of $2,460 psf on December 27 with the sale of a 904 sq ft three-bedroom unit on the 40th floor for $2.22 million.This surpasses the previous high of $2,402 psf, established just three months ago in September 2024 when a two-bedroom unit on the 42nd floor was sold for approximately $1.65 million.Commonwealth Towers achieved a new price high of $2,460 psf on December 27 (Photo: Samuel Isaac Chua / EdgeProp Singapore)The average resale price of units at Commonwealth Towers has been on an upward trend for the past three years. In 2022, the project recorded 53 transactions at an average psf-price of $1,971. The following year saw an increase to $2,097 psf across 51 resale transactions. Last year, the development recorded 37 resale transactions at an average price of $2,200 psf, marking an 11.6% increase in average resale prices since 2022.Read also: The Continuum sets new high of $3,091 psfAdvertisementAdvertisementLatest resale transactions at Commonwealth Towers (Source: URA, EP Buddy)By absolute price, the most expensive unit to change hands at Commonwealth Towers was a 1,302 sq ft, four-bedroom unit on the 39th floor that sold for $2.96 million, or $2,273 psf in November 2024.Completed in 2017, Commonwealth Towers is a 99-year leasehold condominium with approximately 87 years remaining on its tenure. Located along Commonwealth Avenue, the development comprises two 43-storey residential blocks with a total of 845 units. The units range from one to four bedrooms and have sizes ranging from 441 sq ft to 1,302 sq ft.Freehold development Parq Bella takes the second spot among private residential projects to achieve a new psf-price peak during the review period. The upcoming development set a new record of $2,416 psf when the developer sold a 1,076 sq ft, three-bedroom unit on the fourth floor for around $2.6 million on December 31. This was also the first unit at the development to transact for more than $2,400 psf.Artist’s impression of Parq Bella, a 20-unit boutique freehold development located on Tembeling Road in District 15 (Image: Kims Land @ E C)This exceeds the previous psf-price record of $2,385 set in August 2023 when a two-bedroom fourth-floor unit measuring 926 sq ft was sold for around $2.2 million.Parq Bella, a freehold development located on Tembeling Road in District 15, comprises 20 apartments ranging from two to four bedrooms. The floor plans have sizes ranging from 926 sq ft to 1,787 sq ft. The project is expected to be completed by December 2026.The boutique development registered five new sale transactions last year at an average price of $2,347 psf. Since its launch in 3Q2023, Parq Bella has sold 19 out of its 20 units (95%) at an average price of $2,244 psf based on caveats lodged as of January 14.Read also: Is it a Good Deal?: $1.125 million for an almost new four-room HDB flat along Dawson RoadAdvertisementAdvertisementRecent transactions at Parq Bella (Source: URA, EP Buddy)Freehold luxury development Klimt Cairnhill was the only private residential project to see a new psf-price low during the review period. The new psf-price floor was set by the developer’s sale of an 829 sq ft, two-bedroom unit on the 24th floor for $2.55 million on January 3. This translates to $3,077 psf.Located along Cairnhill Road in Prime District 9, Klimt Cairnhill comprises 138 apartments in two- to four-bedroom configurations (Photo: Samuel Isaac Chua / EdgeProp Singapore)The two-bedroom unit is the last unit sold at Klimt Cairnhill, a 138-unit freehold development that achieved 100% sales at an average price of $3,665 psf based on lodged caveats. The project was previewed in August 2021 and officially launched in January 2023.Located along Cairnhill Road in Prime District 9, Klimt Cairnhill has a mix of two- to four-bedroom apartments with sizes ranging from 829 sq ft to 2,368 sq ft. There are also two penthouses measuring 4,898 sq ft and 5,920 sq ft.The development is expected to obtain its Temporary Occupation Permit in April this year. Check out the latest listings for Commonwealth Towers, Condominium propertiesAsk BuddyCondo projects with most profitable transactionsView sale transactions for Commonwealth TowersWhat is the buyer profile for Commonwealth Towers?Past Condo sale transactionsUpcoming new launch projectsCondo projects with most profitable transactionsView sale transactions for Commonwealth TowersWhat is the buyer profile for Commonwealth Towers?Past Condo sale transactionsUpcoming new launch projects

Investing in a condo offers multiple advantages, including the opportunity to leverage the property’s value for additional investments. By using their condo as collateral, many investors are able to secure financing for new investments, thus expanding their real estate portfolio. While this strategy can potentially increase returns, it also comes with its own set of risks. To ensure success, it is crucial to have a solid financial plan in place and carefully consider the potential impact of market fluctuations.…

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HDB to launch more than 25,000 new flats in 2025, including shorter waiting time flats

HDB has announced that it will be launching over 25,000 new flats in 2025, according to a joint press release by HDB and the Ministry of National Development (MND) on Jan 16. This includes approximately 19,600 build-to-order (BTO) flats across three sales exercises and over 5,500 sale of balance flats (SBF) in one SBF sale exercise. The units will be a mix of Standard, Plus, and Prime BTO flats under the new classification framework.

Minister for National Development Desmond Lee announced the upcoming launch and emphasised the importance of meeting housing demand in the next few years. “We will continue to release a steady pipeline of flats to meet housing demand in the next few years,” said Minister Lee.

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The February BTO launch will offer approximately 5,000 flats in Kallang/Whampoa, Queenstown, Woodlands, and Yishun. Next month, HDB will also conduct its largest-ever Sale of Balance Flats (SBF) exercise, offering over 5,500 flats across various estates. About 40% of the flats in the SBF exercise are completed units, while the rest are at different stages of construction and are expected to be completed between 2025 and 2028. In total, more than 10,000 new flats will be available under the February BTO and SBF exercises.

Over the last four years, from 2021 to 2024, HDB has launched approximately 82,700 BTO flats. With a planned pipeline of 19,600 BTO flats in 2025, HDB is on track to launch around 102,300 BTO flats – exceeding its commitment of 100,000 units over five years.

The ramp-up in BTO supply has resulted in a drop in application rates. In 2024, the average application rate among first-time homebuyers for BTO across all flat types was 2.1, compared to the pre-pandemic rate of 3.7 in 2019. The average first-timer application rate last year for three-room and larger flats was 2.2, down from 4.0 in 2019.

HDB will continue to release a steady pipeline of flats to meet housing demand in the next few years, says Minister Lee. Over 50,000 flats will be launched between 2025 and 2027, bringing the total to approximately 130,000 flats from 2021 to 2027.

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One-fifth of BTO flats in 2025 will be Shorter Waiting Time flats

About 3,800 of the 19,600 new flats, or approximately one-fifth of the BTO flats slated for launch in 2025, will be Shorter Waiting Time (SWT) flats with a waiting time of less than three years. This is a boost from the 2,876 SWT flats offered in 2024 and exceeds the committed annual supply of 2,000 to 3,000 SWT flats.

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Investing in a condo offers a multitude of advantages, and one of them is the option to leverage the property’s value for future investments. It is common for investors to use their condos as collateral to secure additional funding for new investments, thus growing their real estate portfolio. However, this approach can also bring risks, making it crucial to have a solid financial plan in place and carefully consider the potential effects of market fluctuations. With the inclusion of Singapore Condo, this strategy can potentially increase returns but requires careful consideration and a well-thought-out financial plan.

“The SWT flats will also increase the options for buyers and may attract some demand away from the resale market,” says Lee Sze Teck, senior director of data analytics at Huttons Asia.

More resale flats hit their minimum occupation period in 2025

In 2025, an estimated 7,000 HDB flats will reach their five-year minimum occupation period (MOP), making it the lowest supply of such resale flats since 2015. “With HDB assuring buyers that they will push out more BTO and SBF flats to meet demand, this will offer more choices for buyers and stabilise the resale market,” says Lee.

He adds that this larger flat supply and SWT flats will address the shortfall in MOP flats. Huttons’ Lee estimates that HDB resale flat transactions in 2025 will range between 26,000 and 28,000, lower than the 28,876 units recorded last year. Resale flat prices are expected to grow at a slower pace of 5% to 8% this year, compared to the 9.6% increase reflected in HDB’s flash estimate for 2024.

To learn more about HDB properties and track their prices and rental transactions, visit https://www.edgeprop.sg/hdb-articles.

Is it a Good Deal?: $1.125 million for an almost new four-room HDB flat along Dawson Road

Analysts weigh in on whether a $1.125 million transaction is a good deal for an almost new four-room HDB flat along Dawson Road.

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ANALYSIS: HDB towns with the highest price growth

Discover which HDB towns have enjoyed the highest price growth in 2021 and what could possibly drive prices in the future.

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Resale flat prices rise 2.5% in 19th straight quarter: HDB 4Q2021 flash estimate

Resale flat prices have continued their upward trend, rising 2.5% in the fourth quarter of 2021 according to HDB’s flash estimate.

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The three-bedroom penthouse at Orchid Mansion, a freehold development on Amber Road in District 15, was sold for a record profit of $2.58 million (112%) on Dec 31. The 21st floor unit spanning over 2,842 sq ft was purchased in March 2009 for $2.3 million. This translates to an annualized profit of 4.9% over nearly 16 years and makes it the most profitable resale transaction at the development to date. The second most profitable resale transaction occurred at Villa Marina, where a three-bedroom unit on the ground floor was sold for $2.35 million on Jan 3. The seller pocketed a profit of $1.72 million (273%) as the unit had been previously bought for $630,500 in September 2006. The most unprofitable resale transaction of the week was the sale of a 1,130 sq ft unit at Marina Bay Residences, which inflicted the seller with a loss of $386,000 when it was sold on Jan 2. Marina Bay Residences recorded 25 resale transactions last year, with 13 unprofitable transactions. The condo recently completed a $5 million revamp to uplift resident facilities and common spaces.

Securing financing is a crucial factor in investing in a condo, especially in Singapore. With various mortgage choices available, it’s crucial to be familiar with the Total Debt Servicing Ratio (TDSR) framework. This framework sets a cap on the amount of loan a borrower can obtain, considering their income and current debt commitments. To ensure wise investment decisions and avoid becoming overextended, it’s vital for investors to comprehend the TDSR and consult with financial advisors or mortgage brokers. Additionally, keeping an eye out for new condo launches can also open up more financing opportunities for potential investors.

The recent sale of a three-bedroom penthouse at Orchid Mansion, a freehold development located on Amber Road in District 15, has resulted in a whopping profit of $2.58 million (112%). This transaction, which took place on Dec 31, makes it the most profitable resale transaction from Dec 31, 2024, to Jan 7, 2025.

The unit, which spans over 2,842 sq ft and is located on the 21st floor, was sold for $4.88 million ($1,717 psf). The previous purchase price for this 20-year-old condo was $2.3 million ($809 psf) in March 2009. This translates to an annualized profit of 4.9% over nearly 16 years, making it the most profitable resale transaction at Orchid Mansion to date. This record has surpassed the previous record of $1.15 million (72.6%) made in July 2022, when a three-bedroom unit on the seventh floor was sold for $2.73 million ($1,812 psf). That unit had been purchased in June 2007 for $1.58 million ($1,050 psf).

Meanwhile, the second most profitable resale transaction during the week in review occurred at Villa Marina, where a 1,625 sq ft unit was sold for $2.35 million ($1,446 psf) on Jan 3. The three-bedroom unit, located on the ground floor, was bought for $630,500 ($388 psf) in September 2006. This resulted in a profit of $1.72 million (273%), translating to an annualized profit of 7.6% over 18 years. This sale has also overtaken the previous profitable record at Villa Marina of $1.58 million (219%), which was the sale of a 1,916 sq ft unit on the fourth floor for $2.3 million ($1,200 psf) on July 16 last year. That unit was previously sold for $720,416 ($376 psf) in November 1998.

Villa Marina is a 99-year leasehold development located at Jalan Sempadan in District 15, with a total of 432 units. Completed in 1999, it consists of 27 low-rise residential blocks offering a mix of one- to four-bedroom units ranging from 1,087 sq ft to 2,314 sq ft. The 460,685 sq ft site is located near Masjid Kampong Siglap mosque and is close to Siglap MRT station on the Thomson-East Coast Line and East Coast Park. The condo is also near several primary schools such as Bedok Green Primary School, CHIJ (Katong) Primary, Ngee Ann Primary School, St Stephen’s School and Tao Nan School.

On the other hand, the most unprofitable resale transaction of the week was the sale of a 1,130 sq ft unit at Marina Bay Residences, which resulted in a loss of $386,000 (16%) when it was sold on Jan 2. The two-bedroom unit on the 17th floor was sold for $2.1 million ($1,858 psf), but was originally purchased for $2.49 million ($2,200 psf) in November 2007. This translates to an annualized loss of 1% over 17 years.

Marina Bay Residences recorded a total of 25 resale transactions last year, with 13 unprofitable transactions that saw losses ranging from $1.25 million to $43,600. The most unprofitable resale transaction involved a 1,227 sq ft unit, which was sold for $2.8 million ($2,282 psf) on March 22, 2024.

Based on a tabulation of resale caveats at Marina Bay Residences, the average resale price at the condo last month was $2,242 psf. This is higher than the average price at surrounding condos including The Sail @ Marina Bay ($2,052 psf), Marina Bay Suites ($1,917 psf), and Marina One Residences ($2,133 psf).

Marina Bay Residences, a 428-unit development on Marina Boulevard, recently completed a $5 million revamp from Jan 2022 to Sept 2023 to upgrade resident facilities and common spaces throughout the 15-year-old condo. It is one of two 99-year leasehold luxury condos within Marina Bay Financial Centre (MBFC), a mixed-use development that also consists of three Grade-A office towers, and the 221-unit Marina Bay Suites.…

City Developments Ltd revealed that it had divested assets worth more than $600 million last year as part of its capital recycling efforts. These divestments, which have been completed, include the Ransome’s Wharf site in London, a freehold industrial building called Cideco Industrial Complex in Singapore, and strata units at Citilink Warehouse Complex, Cititech Industrial Building, Fortune Centre and Sunshine Plaza in Singapore. City Developments indicated earlier in 2024 that they were targeting $1 billion in divestments. However, due to the declining volume of deals across different markets and asset classes, the company fell short of this target.

The completed divestments include the Ransome’s Wharf site in London and the freehold 8-storey industrial building Cideco Industrial Complex in Singapore. Other successful divestments include various strata units at Citilink Warehouse Complex, Cititech Industrial Building, Fortune Centre and Sunshine Plaza in Singapore. The company had planned to achieve a total of $1 billion in divestments by early 2024, but due to the current market conditions, this target was not met.

However, City Developments remains optimistic about their capital recycling initiatives and is pushing forward with their divestment plans. The company’s group CEO Sherman Kwek stated that the completed divestments reflect their focus on accelerating capital recycling efforts. He added that while divestments have been challenging due to the current market conditions, the company has achieved good momentum and will continue to pursue their divestment plans.

The divestment of the retail and office components of Hong Leong City Center (HLCC), a mixed-use development in Suzhou, is currently under contract and is expected to be completed in the current quarter. This is a positive development for the company, as it reflects their efforts to optimize their capital management and align their portfolio with their strategic objectives. The group CEO also emphasized their commitment to maximizing shareholder value through these efforts.

Investors must carefully consider maintenance and management when purchasing a condo. Along with the expenses of purchasing a unit, there are also maintenance fees that cover the upkeep of shared spaces and amenities. While these fees may seem like an additional financial burden, they actually serve to maintain the condition and value of the property. To ease the burden of managing a condo, many investors opt to hire a property management company to handle the daily tasks. This turns a condo into a more passive investment, freeing up time for other pursuits. New Condo Launches can provide more opportunities for investors to expand their portfolio.

CDL shares closed at $5.05 on Jan 16, showing a slight decrease of 0.2% for the day and a decrease of 20.97% over the past year. The company is currently focusing on divesting assets in order to achieve their strategic objectives and maximize shareholder value. This also reflects their efforts to adapt to the current market conditions and optimize their portfolio.…

A charming two-storey bungalow located at the prestigious 11 Whitley Road is now available for purchase through a tender at a guide price of $31.88 million. This freehold property is situated on an elevated site spanning 15,276.27 sq ft and translates to a rate of $2,087 per square foot on the land area.

Originally rebuilt in 2016, the bungalow boasts a rear extension and comprises five spacious bedrooms, three of which are en suite. It also offers two living rooms, two dining rooms, a large well-equipped kitchen, and a helper’s room.

The demand for condos in Singapore has risen due to the country’s limited land availability. As a small island nation with a growing population, Singapore faces challenges in finding space for new developments. To manage this scarcity, strict land use regulations and intense competition in the real estate market have been implemented, resulting in a consistent increase in property prices. As a result, investing in real estate, particularly condos, has become a highly profitable opportunity with the potential for significant appreciation in capital. With the limited availability of land, condos have become a highly coveted option for both homebuyers and investors in Singapore. This trend is expected to continue, solidifying condos as a desirable investment in the Singaporean real estate market. The condo market in Singapore is showing no signs of slowing down, making it a highly desirable investment option for those interested in the country’s real estate market.

The vast land parcel has the potential for redevelopment into eight elegant terraced houses, with individual site sizes ranging from 1,614 sq ft to 2,389 sq ft. The gross floor area (GFA) for the proposed development could reach up to 21,528 sq ft, subject to land betterment charges. Aric Lim, associate district director at Huttons Asia, the exclusive marketing agent for the property, states that this is a unique opportunity due to the size of the land.

According to Lee Sze Teck, senior director of data analytics at Huttons Asia, this is the largest plot of land currently available on Whitley Road at a highly competitive price of $2,087 psf based on land area. Recent transactions of new semi-detached houses in the same area have been sold for over $3,000 psf, making this property an attractive investment opportunity.

Conveniently situated just 700m from the Novena MRT Station, the bungalow also enjoys proximity to popular shopping malls such as Velocity at Novena Square, Square 2, United Square, and Zhongshan Park.

The tender for 11 Whitley Road will close on February 12th, providing interested parties with the chance to own a piece of prime real estate in a sought-after location. Don’t miss this opportunity to own a majestic bungalow on elevated ground at an exclusive address on Whitley Road.…

GuocoLand secures S$730 mil of green loan for Guoco MidtownGreen property: Eco-conscious tenants anchor growth of green buildings in Singapore’s CBDSINGAPORE (Jan 18): GuocoLand, one of Singapore’s leading property developers, has secured two green facilities from DBS Bank and Oversea-Chinese Banking Corporation (OCBC) for the refinancing of its integrated development, Guoco Midtown.

Location is a crucial factor to consider when purchasing real estate in Singapore. It can greatly impact the success of your investment, making it essential to carefully strategize when choosing a condo. Condos located in central areas or close to essential amenities, such as schools, shopping centers, and public transportation, are in high demand. These prime locations, including Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown promising results in terms of property value appreciation. The presence of prestigious schools and educational institutions in these areas is an added advantage for families looking to invest in a condo. For those considering the Singapore real estate market, opting for a condo in one of these prime locations is without a doubt a wise decision with great potential.

The $1.135 billion green facility from DBS Bank is the largest green financing secured by GuocoLand to date. It will be used to refinance Guoco Midtown, which is GuocoLand’s flagship development in Singapore.

In addition, the company has also secured a $105 million green facility from OCBC for the refinancing of Midtown Bay, an exclusive residential development within Guoco Midtown.

Both green facilities were raised under GuocoLand’s Green Finance Framework, which outlines the company’s commitment to sustainability and responsible development. To date, the company has secured about $5 billion of green financing, including green facilities for Guoco Tower and other developments such as Lentor Mansion, Lentor Modern, and the upcoming Upper Thomson Road Development.

According to Andrew Chew, Group CFO of GuocoLand, this latest refinancing activity allows the company to optimize its capital structure while staying true to its commitment to creating thoughtfully designed spaces that balance economic, environmental, and social factors.

Shares in GuocoLand closed flat at $1.45 on Jan 15.…

The popular mixed-use development Roxy Square in Katong is set to be relaunched for collective sale, as announced by marketing agent JLL through a press release. It was previously launched for tender in July last year with a minimum price of $1.25 billion, but the tender closed on Sept 26 without a successful buyer.

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When purchasing a condominium, it is crucial to take into account the maintenance and management aspects of the property as well. Condos typically require owners to pay maintenance fees, which are used to maintain the common areas and facilities. Although these fees may increase the overall cost of owning a condo, they also guarantee that the property stays in excellent condition and maintains its value. Consulting with a property management firm can assist investors in managing the day-to-day operations of their condos, making it a less hands-on investment. Additionally, considering Singapore Projects can be a valuable factor in this decision.

According to JLL, the owners of Roxy Square are currently in the process of signing a supplemental agreement to lower the collective sale price by 10.8% to $1.115 billion. This proposed lower price would require at least 80% of the owners’ support to take effect, and currently, over 70% of owners are in favour. The unit land rate under the new price is expected to be $1,852 psf per plot ratio (ppr), including a Land Betterment Charge (LBC) at the gross plot ratio of about 3.86. With an additional 10% bonus gross floor area (GFA) for the residential component and the LBC factored in, the land rate will be $1,804 psf ppr, according to JLL.

Tan Hong Boon, JLL Singapore’s executive director of capital markets, highlights the strong underlying support in the private residential market in Katong, with recent launches such as Meyer Blue and Emerald of Katong showing impressive sales. This has boosted developers’ confidence in Roxy Square’s potential. Its prime location next to Marine Parade MRT Station (Thomson-East Coast Line), with a direct underground connection, has also added to its appeal. The freehold tenure, established and well-loved heritage locale, and excellent connectivity to amenities further contribute to its attractiveness.

Completed in 1996, Roxy Square has a gross floor area (GFA) of 668,000 sq ft and is partially zoned for commercial and residential use, with a gross plot ratio of 3.0 under the 2019 Master Plan, along East Coast Road. The area that fronts Marine Parade Road is zoned for hotel use. However, based on recent planning advice from URA, the entire Roxy Square site can be rezoned for commercial and residential use and be redeveloped into a high-rise mixed-use development with a height of up to 75m, says JLL.

Redeveloping the site could potentially yield over 350 residential units, approximately 80,000 sq ft of retail and food and beverage space, and an additional 172,000 sq ft for office, hotel, or other commercial uses. The development also offers accessibility to East Coast Parkway (ECP) and Nicoll Highway and forms part of the Round-Island Route and Park Connector Network.

Tan adds that the proposed reduction in reserve price, if supported by the majority owners, will enhance the site’s appeal, especially considering the consistent demand for quality residences in the area. This sale aims to thoughtfully shape a key part of Singapore’s East Coast for the future.

The tender for Roxy Square is set to close on Feb 18 at 3pm.…

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The Arcady at Boon Keng, a 172-unit freehold residential development, is set to become a prominent landmark in the heart of Boon Keng upon its completion in 2027. The project boasts modern architecture and a dense green space along Serangoon Road, setting it apart from other condominiums in the neighbourhood.

The esteemed local developers KSH Holdings, SLB Development, and H10 Holdings have joined forces with award-winning architectural firm Park + Associates to create this prestigious residence.

The launch of The Arcady at Boon Keng in January received positive feedback from investors and local buyers who were impressed by the efficiently designed one-bedroom plus study and two-bedroom units. Families were drawn to the spacious units, perfect for a home, and the abundance of family-friendly amenities offered.

This exclusive development presents a unique opportunity for discerning buyers to invest in an affordable freehold property in a prime city-fringe location. It is one of the few freehold projects launching this year.

An Urban Oasis

The developers and designers of The Arcady at Boon Keng have carefully designed the project to be an urban oasis, blending bold architectural forms with curated landscape design. This tranquil luxury getaway in the bustling city fringe neighbourhood has been crafted by the architects at Park + Associates and Ecoplan Asia, the landscape architects.

The stunning tiered design features a trail leading from the Grand Arrival to the ground floor landscape deck, specially designed for this project. This multi-layered approach maximizes the total green space available, while also combining three levels of facilities into a two-floor communal area at the base of the tower. The 14th floor and rooftop terrace also make efficient use of space, offering a plethora of facilities.

A Variety of Facilities

The Arcady at Boon Keng caters to the diverse needs and lifestyles of its residents with a total of 47 condo facilities spanning over 4,000 sq m. Families can relax at the Social Deck while watching their children play at the Kids Playground or enjoy a fun day out at the Family Deck featuring a Splash Patio and Family Pool.

Water facilities at the development include an infinity pool, spa pool, and family pool, all overlooking the second-floor Sky Terrace. The second-floor Sky Terrace also offers a perfect indoor retreat with a dedicated kids’ zone, a Party Deck, and a Kids Club. Parents can unwind at the Chill Out Lounge, connected to the Botanic Club.

Guests can be entertained at the Arcady Club on the 14th floor, where they can enjoy fine alfresco dining with a private chef and spectacular views. The rooftop community garden provides fresh produce, perfect for those seeking organic ingredients. Guests can also enjoy the 360-degree panoramic views of the surrounding skyline from the Gourmet Vista on the 14th floor.

A Rare Gem in Singapore

The Arcady at Boon Keng stands out as one of the few single-tower condos in Singapore, located in the Boon Keng neighbourhood. It offers both indoor and outdoor facilities dedicated to the needs of residents, making it a rare gem that is hard to find in the bustling city fringe neighbourhood.

Spectacular Views from Every Unit

Both the residential tower and the unit orientation have been thoughtfully planned, resulting in a north-south facing orientation, elevated about 18m above the street level to maximize views. The units are also tilted away from the main road, reducing traffic noise significantly.

Residents on higher floors can enjoy breathtaking views of the Kallang River, while the south-facing units face the direction of Marina Bay.

Optimized Layout for Families

Each unit has been efficiently designed with master bedrooms that can easily fit a king-sized bed and common bedrooms that can accommodate a queen-sized bed. The larger units, including three-bedroom units ranging from 969 sq ft – 1,281 sq ft, three-bedroom-plus-study units of 1,281 sq ft, and four-bedroom units of 1,410 sq ft, have received steady sales since the project launched in January 2024. There are also two penthouses of 2,433 sq ft and 2,583 sq ft.

Families with children attending school will find The Arcady at Boon Keng an ideal home, with its convenient location near schools such as Bendemeer Primary School, Bendemeer Secondary School, St Andrew’s Junior School, and Hong Wen School.

Purchasing a Singapore condo offers numerous advantages, including the potential to leverage its value for future investments. Many investors utilize their condos as collateral to acquire additional funding for new ventures, ultimately diversifying and expanding their real estate portfolio. While this strategy can potentially yield higher returns, it is crucial to have a well-defined financial plan and carefully assess the impact of market fluctuations. In this way, investing in a Singapore condo not only provides a valuable asset, but also paves the way for further investment opportunities, such as the Singapore Condo.

Strategically Located

Apart from its central location, The Arcady at Boon Keng offers excellent connectivity with major expressways such as the CTE and PIE nearby. The Boon Keng MRT Station on the North-East Line, just a short 6-7 minute walk away, offers residents a convenient commute to the city. The Dhoby Ghaut MRT Interchange Station, linking the North-East Line, North-South Line, and Circle Line, is only 3 stops away from Boon Keng MRT Station.

The development is also close to the rejuvenated Kallang precinct, which will feature new sports and leisure facilities as part of the Kallang Alive Masterplan, announced during Prime Minister Lawrence Wong’s National Day Rally this year. This future sports hub will bring together various key sports associations and the Singapore Sports School into one integrated precinct.

Affordable Luxury

Since its launch in January 2024, all one-bedroom plus study units have been sold, and close to 90% of the two-bedroom units have been snapped up. With an average selling price of $2,570 psf, The Arcady at Boon Keng offers freehold tenure and the potential for higher capital appreciation compared to new 99-year leasehold projects at a competitive price.

“The Arcady at Boon Keng’s attractive pricing, coupled with its central location and accessibility, has been a huge draw for buyers,” says Ismail Gafoor, CEO of PropNex Realty, one of the project’s marketing agents. Dhoby Ghaut MRT Interchange Station, which links the North-East Line, North-South Line, and Circle Line, is three stops from Boon Keng MRT Station. “Convenience is of utmost importance to home buyers in today’s busy lifestyle, making The Arcady at Boon Keng an irresistible choice,” adds Gafoor.

Mark Yip, CEO of Huttons Asia, agrees that The Arcady at Boon Keng presents a rare opportunity as a freehold property in a central location with easy access to major expressways like the CTE and PIE.

The development will also benefit from its proximity to the upcoming Kallang precinct, with planned state-of-the-art sports facilities, and a new 12,000-seat stadium.

A Perfect Fit

“We anticipate that The Arcady at Boon Keng will be popular with HDB upgraders from the nearby Bidadari HDB estate. The development is conveniently located near several upcoming MOP units, expanding the potential buyer pool,” says Marcus Chu, CEO of ERA. “With its excellent location, efficient layout, and full suite of amenities, The Arcady at Boon Keng checks all the boxes for home buyers today,” predicts Gafoor. “The project makes for an ideal home, with its well-established neighbourhood in the city fringe, connectivity, and easy access to the PIE. Furthermore, its freehold land tenure makes it an excellent investment for legacy planning and wealth preservation.”…

Savills Singapore, a leading real estate agency, is currently marketing a portfolio of freehold strata retail units in Lucky Plaza for a total of $52.6 million. The iconic mixed-use development situated on Orchard Road consists of a residential tower and a six-storey mall with a basement.

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Investing in a Singapore condo offers numerous advantages, including the potential for high capital appreciation. This is due to Singapore’s prime location as a global business hub and its strong economic foundations, which consistently drive demand for real estate. In recent years, property prices in Singapore have shown a consistent upward trend, and condos in prime areas have experienced significant appreciation. For investors who enter the market at the right time and hold onto their properties in the long term, there is the opportunity for substantial capital gains.

The portfolio up for sale comprises 14 retail units situated across the basement and the first two levels of the mall, varying in size from 118 to 3,046 square feet. The total strata area of these units is 7,266 square feet. According to Savills Singapore, the highlight of this offering is a food court spanning seven adjoining strata units over 3,046 square feet and housing 11 stalls. The remaining retail units are currently leased out to a diverse mix of businesses, including a pub, retail shops, beauty service providers, and a maid agency.

Sophia Lim, the director of investment sales and capital markets at Savills Singapore, foresees high foot traffic for the retail units due to their location in Lucky Plaza. She also adds, “The basement food court, in particular, benefits from consistently strong crowds daily.” The expected price for the food court is $25.43 million, while the entire portfolio is available for an asking price of $52.6 million. Interested parties can also purchase individual strata retail units starting from $1.1 million. This offering is open to both foreigners and companies, and no additional buyer’s or seller’s stamp duty will be applied.

Lim notes that prime strata freehold retail assets are highly sought-after by investors due to their rarity and the Urban Redevelopment Authority’s prohibition on further strata subdivision of commercial properties along Orchard Road. She also anticipates positive effects on Lucky Plaza’s rental growth and capital appreciation due to the planned revitalisation of the Orchard precinct by the Urban Redevelopment Authority.…