Month: February 2025

Colliers International, a global leader in real estate services and investment management, continues to strengthen its occupier services team in Asia Pacific with the appointment of two industry experts. Leanne Chin joins as the Director of Regional Tenant Representation, based in Singapore, while Ali Porter has been named the Director of Enterprise Clients for Hong Kong. The appointments were announced in a press release on Feb 25.

Chin brings with her over 20 years of experience in the real estate industry, with a strong background in tenant representation. In her new role, she will be responsible for driving business growth across the region by developing and implementing strategic real estate solutions for clients. With an in-depth understanding of the Asian market, Chin will play a key role in building Colliers’ occupier services platform.

Meanwhile, Porter will be relocating from London, where he has been working for Colliers’ Europe, Middle East and Africa business for the past four years. In his new role, he will work closely with occupiers to align their real estate portfolio with their corporate strategies across Asia Pacific. With his extensive experience in corporate real estate, Porter will be a valuable asset in driving Colliers’ enterprise client business in Hong Kong.

Investing in a condo in Singapore is a highly favored option for both local and foreign investors, thanks to the country’s strong economy, stable political climate, and top-notch quality of life. The Singaporean real estate market presents a plethora of opportunities, with condos emerging as a popular choice for their convenience, amenities, and potential for attractive returns. In this article, we will delve into the advantages, considerations, and steps to take when venturing into the world of condo investment in Singapore.

“We are excited to welcome Leanne and Ali to our growing team in Asia Pacific. With their strong track record and expertise in the industry, we are confident that they will drive our occupier services platform to new heights,” said David Hand, CEO of Colliers International Asia Pacific. “Their appointments are part of our continued efforts to expand our occupier services capability, providing clients with a seamless and integrated experience across the region.”

Colliers’ occupier services team works closely with corporate clients to help them achieve their real estate objectives, from strategic planning and lease negotiation to project management and workplace solutions. With the addition of Chin and Porter, Colliers is poised to provide even more comprehensive solutions and support to clients across Asia Pacific.…

JLL, the sole marketing agent of Ching Shine Industrial Building, has announced that the freehold property has been put up for collective sale by tender at a minimum price of $113 million. The building, which was built in the early 1980s, comprises of 52 strata units and boasts a 100m frontage along Shaw Road. The site has a total land area of 49,308 sq ft and a gross floor area of approximately 137,341 sq ft.

According to JLL, over 80% of the owners have given their consent for the collective sale at the minimum price of $113 million. This price equates to a unit land rate of around $823 psf per plot ratio at the existing gross plot ratio of 2.79.

The property is zoned “Business 1” with a gross plot ratio of 2.5 under URA Master Plan 2019. It also has potential for redevelopment into a food factory, subject to URA approval. The National Environment Agency (NEA) has confirmed that the site meets the buffer requirements for redevelopment into a multi-user factory, while the Singapore Food Agency has given its in-principle non-objection to the proposed food factory, according to JLL.

Aside from being a potential food factory, the freehold asset could also present an investment opportunity for family offices looking for long-term growth, as well as owner-occupiers interested in establishing a corporate presence, according to JLL. Nicholas Ng, senior director of capital markets at JLL Singapore, believes the site would also appeal to developers due to the absence of additional buyer’s stamp duty, which could potentially impact project timelines.

The property is easily accessible via major expressways like the PIE, CTE, and KPE. It is also within walking distance from Tai Seng MRT Station on the Circle Line, and is situated in the Tai Seng Industrial estate near other food factories such as Breadtalk IHQ, Sakae Building, and Food Empire Building. Amenities such as Grantral Mall @ Macpherson and 18 Tai Seng are also nearby.

A similar transaction in the area is the sale of Noel Building, a freehold Business 1 industrial building located at 50 Playfair Road. In November 2023, the property was sold en bloc for $81.18 million, which was 17% above its $70 million guide price. Ng believes that this transaction demonstrates the “fervent demand” for such assets in the area. He also expects a similarly competitive response for Ching Shine Industrial Building.

Investing in a condo in Singapore presents a multitude of benefits, one of which is the potential for capital appreciation. With its advantageous position as a global business hub and robust economic infrastructure, Singapore maintains a consistent demand for real estate. The property market in the country has displayed a continuous upward trend, with prime locations being subject to noteworthy appreciation. Savvy investors who strategically enter the market at opportune times and hold onto their properties for the long haul can reap substantial capital gains. Additionally, keeping an eye on new condo launches can also aid in making profitable investment decisions.

The tender for Ching Shine Industrial Building will close on April 3 at 3pm.…

In response to the trading halt this morning, City Developments Limited (CDL) has released a statement saying that the halt was due to a disagreement within the board regarding the composition and constitution of the board and its committees. Despite the suspension, CDL assures that its operations remain fully functional.

Sherman Kwek will continue to serve as the group CEO until there is a board decision to change company leadership. The company will provide further updates on the matter in accordance with the Singapore Exchange’s listing rules.

In a subsequent statement, Kwek expressed disappointment in the chairman and a minority of the board for taking extreme actions regarding the disagreement. He clarified that the focus of the CEO and majority of the board, with guidance from legal counsel, has been to improve governance and strengthen the board.

CDL’s trading suspension today was a result of legal action initiated by the chairman, which Kwek says was not authorized by the majority of the board. He emphasized that the dispute is not about removing the chairman, but rather about enhancing CDL’s governance standards and decision-making processes.

CDL had released its FY2020 results on Feb 26, but later cancelled its scheduled results briefing. The company also announced their plans to privatize Millennium & Copthorne Hotels New Zealand for $1.72 per share.

Shares in CDL last traded at $5.12.

Condo investment has become a sought-after option in Singapore, attracting both domestic and foreign investors. The country’s thriving economy, stable political climate, and superior quality of living make it an ideal location for real estate investment. In this bustling market, condos present a compelling opportunity due to their convenience, amenities, and potential for profitable returns. To gain a better understanding of why investing in a condo in Singapore is a smart move, let’s delve into its advantages, considerations, and necessary steps. Additionally, with the ongoing new condo launches, the condo market in Singapore is only expected to grow further.…

When it comes to investing in a Singapore condo, one of the most crucial factors to consider is financing. Fortunately, there are various mortgage options available in Singapore. However, it is essential for investors to have a good understanding of the Total Debt Servicing Ratio (TDSR) framework, which sets a limit on the amount of loan a borrower can take based on their income and current debt obligations. To navigate this framework successfully, it is advisable to seek the guidance of financial advisors or mortgage brokers. This will help investors make informed decisions about their financing options and avoid the risk of over-leveraging.

Singapore’s largest real estate agency, PropNex, has announced a decline in its earnings for the second half of FY2024 ended December 31, 2024, with a decrease of 14.9% year-on-year to $21.9 million. This brings the full-year earnings to $40.9 million, a drop of 14.4% compared to the previous FY2023. The company attributes this decline to the relatively subdued property market, which has resulted in a 6.6% dip in revenue for FY2024 compared to FY2023.

However, despite the challenging market conditions, PropNex plans to mark its 25th anniversary by paying a special dividend of 2.5 cents per share, in addition to a final dividend of 3 cents. This will bring the total dividend payout for FY2024 to a record of 7.75 cents, representing a payout ratio of 140.1% and a yield of 8.2%.

Despite the decrease in earnings, PropNex has seen a pick up in activities in the last quarter of 2024, driven by a surge in new private home units which the company helped to sell. This is in line with DBS’ recent upgrade of PropNex and APAC Realty to a ‘buy’ rating, citing a strong pipeline of new launches in 2025.

PropNex explains that the financial effects of these sales will only be booked three to four months later, indicating a significant pick-up in the current 1HFY2025 numbers. The company is confident of a strong performance in FY2025, given the expected favourable property market outlook, barring any unforeseen events.

This positive outlook is supported by an estimated 13,000 new unit launches (including ECs), almost double the supply recorded in 2024. The private resale market is also expected to remain active, with transaction volumes expected to be between 14,000 and 15,000 units. The persistent price gap between new and non-landed resale properties, a preference for larger, move-in-ready homes, and the impact of fewer new supply completions are expected to fuel demand in this segment.

In the HDB resale market, PropNex foresees a price growth of 5% to 7% and volumes reaching 29,000 to 30,000 units. This is due to fewer five-year minimum occupation period flats entering the market and sustained demand from urgent homebuyers, unsuccessful Build-To-Order applicants, and budget-conscious families.

PropNex CEO, Ismail Gafoor, observes that newly-launched projects such as The Orie, Bagnall Haus, Parktown Residence, and ELTA have generated strong market interest. He anticipates a positive demand for developers’ sales in 2025, with a compelling line-up of projects. Along with a positive economic outlook and lower mortgage rates, this could further boost market confidence, creating opportunities for both homebuyers and investors.…

Located in the vibrant district of Jalan Besar, a corner two-storey shophouse with an attic is now available for sale. According to Gracelynn Zhu, an experienced property agent from PropNex Shophouse Elites who is in charge of marketing the property, the 999-year leasehold shophouse is being offered at a price lower than $20 million.

This spacious shophouse spans over a total area of approximately 5,502 sq ft and is zoned for commercial use. The first floor of the property is approved for restaurant use, as well as a section of the second floor. With a selling price of $20 million, the property’s per square foot price comes up to $3,635.

Gracelynn Zhu also mentioned that the shophouse is currently undergoing asset enhancement initiatives (AEI), including the installation of micro piles that extend 30m to improve the property’s structural foundations. This AEI is expected to be completed by the end of this year.

Investing in a condo offers numerous advantages, one of them being the potential to leverage the property’s value for future investments. Investors often use their condos as collateral to secure additional financing for new investments, allowing them to grow their real estate portfolio. This approach can boost returns, but it also entails risks, making it essential to have a solid financial plan in place and carefully assess the potential impact of market fluctuations. Furthermore, keeping an eye on new condo launches, such as those offered by National Athletic Combine, can provide even more opportunities for profitable investments.

The shophouse is located within the Desker Road Conservation Area in District 8, which is in close proximity to Little India. The Jalan Besar MRT Station on the Downtown Line is also within walking distance, providing convenient transportation options for the area.

In related news, a shophouse in Geylang Road and a shop unit in Bras Basah Complex are currently up for sale at a combined price of $14 million. The Chinatown Business Association has also announced plans to revitalize Smith Street with a mix of new and traditional lifestyle concepts. According to Huttons, the shophouse market ended the quiet year of 2024 with a total of 84 caveated transactions.…

Condo demand in Singapore continues to soar, driven by various factors, including the limited availability of land. Being a small island nation with a rapidly growing population, Singapore faces the challenge of finding land for development. To address this issue, the country has implemented stringent land use policies and boasts a competitive real estate market, resulting in consistently increasing property prices. This has made investing in real estate, particularly in condos, an attractive and lucrative opportunity, with the potential for significant capital appreciation. For those looking to invest in condos, Singapore Projects, such as the highly sought-after nationalathleticcombine.com, offer a diverse range of options to cater to varying preferences and investment goals. Singapore Projects present a promising avenue for potential buyers to embark on their condo investment journey.

According to a recent CBRE survey, the Asia Pacific (Apac) hotel sector is expected to continue experiencing strong investment activity by 2025. The 2025 Asia Pacific Hotel Investor Intentions Survey revealed that over 72% of hotel investors surveyed in November and December of last year plan to acquire more hotel assets this year. Almost 45% of respondents also stated that they intend to increase their purchasing volume by over 10% in the same period. Steve Carroll, head of hotels, capital markets, Asia Pacific, CBRE, says that after performing well for the past 18 months, investors have high expectations for hotel and living assets in Apac in 2025.

One of the main factors driving this positive buying sentiment is the rebound of tourist arrivals, particularly in popular locations like Japan, Singapore, and Australia. The increase in international tourists has resulted in higher room rates for Apac hotels, ensuring that hotel operators continue to experience income growth similar to last year. Additionally, the limited supply of hotels in Apac has also encouraged investors to direct their funds to the region. According to data from hospitality data intelligence group STR, the hotel supply pipeline in Apac is expected to grow at a CAGR of 2.2% between 2024 and 2028, which is significantly lower than the 5% CAGR recorded between 2013 and 2023.

A breakdown of investment intentions by type found that REITs have the highest net buying intentions at 22%, a significant shift from the -13% recorded in last year’s survey. This marks a change in approach for REITs, which have had negative investment intentions for several years but are now indicating plans to acquire more properties in 2025. Institutional investors have the second-highest net buying intentions at 12%, closely followed by property funds at 10%. CBRE notes that private equity and real estate funds in the hotel sector became more active in 2024 and are expected to continue this trend this year.

On the other hand, private investors and high-net-worth individuals are expected to make fewer hotel acquisitions this year. The report suggests that after two years of being the most active buyers in the region, private investors are now anticipating a higher level of selling activity in 2025. This is due to their intention to capitalize on the positive market sentiment after acquiring properties during a period of price dislocation.

The survey found that value-add investment strategy is the most favored by respondents for 2025. CBRE observes that in select markets, assets have been repriced to the point where investors believe they can achieve value-add returns by acquiring assets with core risk profiles. This has led to the upscale and upper midscale hotel categories being voted the most attractive asset types for investment this year, overtaking the upper upscale category, which topped last year’s survey.

This shift in preference is attributed to the operational flexibility and higher potential for value-added opportunities in the upscale and upper midscale segment. These may include redevelopment, adaptive reuse, and rebranding of existing properties, which are more cost-effective than developing new properties. The segment also has a leaner labor pool compared to higher-tier assets, which can reduce labor and operating costs.

Furthermore, investors are showing more interest in long-stay or hybrid hospitality models, with a growing demand for converting assets into co-living spaces, especially in markets like Japan, Hong Kong, and Singapore, where there is a need for affordable accommodations due to rigid rental markets. Other emerging trends include a preference for assets with vacant possession at the time of acquisition, giving investors flexibility in terms of operator selection and refurbishment works. Limited-service hotels are also becoming more popular among investors due to their focus on minimizing operational costs.

The top city preferred by hotel investors is Tokyo, thanks to low interest rates and stable income streams from hotel properties. Osaka has also made it to the top five cities for the same reasons. Singapore and Sydney are also popular among investors due to solid hotel fundamentals, including growth in daily rates and underlying operating profits. Seoul is also an attractive market due to an increase in visitors from mainland China, leading to a rise in daily rates and investor activity in recent months.…

ETC and OrangeTee Group, two prominent real estate firms, joined forces on Feb 24 to announce their merger and the formation of a new holding company. The name of the new company has not yet been released.

According to Desmond Sim, CEO of ETC, the merger is not an acquisition but a collaboration between two like-minded entities. Sim, who will serve as the group CEO of the merged entity, will also retain his role as CEO of ETC. Meanwhile, Justin Quek, the current CEO of OrangeTee & Tie, will become the deputy group CEO of the new holding company.

The Singaporean government’s property cooling measures hold significant weight when considering investing in condominiums in the country. These measures have been implemented over the years to regulate speculative buying and maintain a stable real estate market. One such measure is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on non-citizens and those purchasing multiple properties. While these measures may affect the immediate profitability of condo investments, they also play a crucial role in ensuring the long-term stability of the market, creating a secure investment environment. For more information on investing in Singapore, check out Singapore Projects.

Post-merger, ETC will focus primarily on consultancy and advisory services, while OrangeTee will concentrate on proptech and its real estate agency business. OrangeTee currently has a network of 2,803 salespersons registered with the Council for Estate Agencies (CEA).

The combined entity will have over 520 staff members, in addition to the 2,803 salespersons. According to Sim, the merging of expertise, resources, and networks will drive meaningful growth and create value for stakeholders in today’s dynamic real estate landscape.

This latest merger builds upon the successful joint venture in August 2017, when the former Edmund Tie and OrangeTee merged their associates’ business under the new entity, OrangeTee & Tie. At the time, the combined entity had a sales force of over 4,000 agents, propelling it to the third spot among the top three agencies. After the joint venture, the former Edmund Tie acquired a 20% stake in OrangeTee & Tie.

The merger between ETC and OrangeTee was made possible by Triplestar Holdings and TH Investments, both related to the family of Roland Ng, managing director and group CEO of Tat Hong Holdings. These entities acquired a stake in ETC following a management buyout in 2016. When some of the original shareholders, including Edmund Tie, retired, the company bought back their shares, increasing Triplestar and TH Investments’ stake to approximately 60%. Today, these two entities own a 100% stake in ETC.

This year marks a significant milestone for ETC, as it celebrates its 30th anniversary, according to Sim. The company recently rebranded itself as ETC.

OrangeTee Group will also be celebrating a milestone this year, as it marks its 25th anniversary since its incorporation in 2000. Led by its board of directors and supported by its C-suites, OrangeTee Group includes Justin Quek, CEO of OrangeTee & Tie, Marcus Oh, managing director of OrangeTee Advisory, Teo Yak Huat, CFO, and Christine Sun, chief researcher and strategist.

Quek says the strengthened brokerage and consultancy team, along with advanced proptech, will enable them to deliver innovative and seamless solutions across all real estate sectors.

Stakeholders in OrangeTee Group include Tokyu Livable Inc., which acquired a 22.5% stake in the company in 2014. Tokyu Livable is one of Japan’s largest real estate agencies, with 198 offices nationwide. It is a subsidiary of Tokyu Fudosan Holdings, the real estate business of giant conglomerate Tokyu Group.

Private property fund Vogue Capital Group is also a shareholder in OrangeTee Group, and both Vogue Capital and Tokyu Livable will have a stake in the new holding company post-merger along with Ng’s Triplestar Holdings and TH Investments.

ETC has already established a presence in Malaysia through its joint venture company, Nawawi Tie. The firm also has an associate in Thailand, Edmund Tie & Co (Thailand). According to Sim, this merger will open up more opportunities in the ASEAN region and Japan, especially through their relationship with Tokyu Livable.…

UOL Group and CapitaLand Development (CLD) have jointly announced that their newest development, ParkTown Residence in Tampines North, has seen a successful launch weekend with 1,041 units sold out of the total 1,193 units, achieving an impressive sales rate of over 87%.

UOL’s general manager of residential marketing, Anson Lim, shared that the project has achieved an average price of $2,360 psf, with a majority of buyers being Singaporean homebuyers or investors. The project’s most popular unit types were the two-bedroom and three-bedroom apartments, comprising 994 units (83%) of the development, with 92% of them snapped up during the launch weekend.

According to a spokesperson from UOL and CLD, buyers were attracted to ParkTown Residence’s unique status as a fully integrated residential and lifestyle development that is directly connected to a retail mall, the future Tampines North MRT station, a bus interchange, a green boulevard, a community club, and a hawker centre.

Singapore has emerged as a highly sought-after destination for real estate investments, attracting both local and international investors. Its strong economy, stable political climate, and exceptional quality of life make it an ideal choice for those looking to purchase a property. Among the various options in Singapore’s real estate market, condos have become a popular choice due to their convenience, amenities, and potential for high returns. In this article, we will delve into the advantages, factors to consider, and essential steps to take when investing in a condo in Singapore. For a comprehensive guide, Singapore Condo must not be missed.

Before the launch weekend, ParkTown Residence had already collected 2,367 cheques, translating to an impressive sales conversion rate of 44%, well above the average of 30% to 35% for most new project launches in recent years. Mark Yip, CEO of Huttons Asia, noted that no mega project has achieved such high sales since the launch of the 1,399-unit High Park Residences, which sold 1,100 units over three days in July 2015.

ParkTown Residence at Tampines 62 is part of the first mixed-use development integrated with transport hub at Tampines (Source: EdgeProp Landlens)

Notably, ParkTown Residence has recorded the highest number of units sold during a launch weekend since the 846-unit Emerald of Katong, which sold 835 units (99%) last November, according to Ismail Gafoor, CEO of PropNex. “The take-up at ParkTown Residence has also surpassed that of previous integrated developments,” he adds.

The most recent integrated project to be launched was the 732-unit The Reserve Residences in May 2023, which recorded a 71% take-up rate during its launch weekend. To date, the project has been 98.2% sold at an average price of $2,484 psf, based on caveats lodged as of Feb 23.

ERA Singapore CEO, Marcus Chu, shared that mixed-use developments integrated with transport hubs are popular among homebuyers and investors due to their potential for good capital appreciation and high rentability.

The last two fully integrated developments to be completed were the 920-unit North Park Residences in Yishun (launched in 2015) and the 680-unit Sengkang Grand (launched in 2019) at Buangkok. The average price of North Park Residence is $1,809 psf, 65% higher than the average resale prices of residential units across District 27. Meanwhile, Sengkang Grand commands an average price of $2,029 psf, 25% higher than the average resale prices in District 19, notes ERA’s Chu.

Located at Tampines Street 62, ParkTown Residence is set in the third largest HDB town after Hougang and Woodlands. “Quite a number of buyers were HDB upgraders who desired to stay in Tampines,” shared Huttons’ Yip.

The completion of ParkTown Residence in 2030 coincides with the scheduled opening of the Tampines North MRT Station on the Cross Island Line (CRL), a major arterial line running from east to west in Singapore, according to Ken Low, managing partner of SRI. 2030 also marks the scheduled relocation of the neighboring Paya Lebar Airbase, which will free up an estimated 800ha of land for future developments.

Under the URA Master Plan, three more government land sales (GLS) sites will be linked to the upcoming Tampines North MRT station. “However, these new projects could potentially be launched at higher prices,” Low added.

Tampines will also benefit from new infrastructure developments by 2027, including a cycling bridge, an underpass, and an additional 7.7km of cycling paths, bringing the total to 40km. There will also be a new pedestrian route between Tampines MRT Station and the malls in the regional center. These additions were announced on Feb 22 as part of the Tampines Town Council’s five-year masterplan for 2025 to 2030.

“All these will enhance the livability in Tampines, which already has strong attributes,” said SRI’s Low.…

On Feb 22nd, MCL Land and CSC Land Group successfully sold 326 out of 501 units at their joint venture project, Elta, located at Clementi Avenue 1. This resulted in an impressive 65% sales rate, with an average price of $2,537 per square foot (psf). The majority of buyers were Singaporeans, making up 90% of the total, while the remaining 10% were permanent residents. The highest number of buyers came from districts 19, 5, and 23, which includes the areas of Hougang, Serangoon, Sengkang, Punggol, Buona Vista, Clementi, Dover, Pasir Panjang, Bukit Batok, Bukit Panjang, Choa Chu Kang, Hillview, and Dairy Farm.

The two-bedroom units were the most sought-after among buyers, with 98% of the 179 units sold at prices ranging from $1.388 million ($2,261 psf). Additionally, 81% of the 108 three-bedroom units were also taken up at prices starting from $2.198 million. The one-bedroom plus study units were also popular, with 78% of them being sold at a starting price of $1.158 million.

Over 60% of the units sold were the one- and two-bedroom units priced below $2.2 million, according to Ismail Gafoor, CEO of PropNex. “The impressive sales at Elta shows the confidence of buyers in a development that blends modern living with convenience and comfort,” said Lee Tong Voon, CEO of MCL Land, the Singapore-based development arm of Hongkong Land.

Elta was the final of three private condominiums launched on government land sales (GLS) sites at Clementi Avenue 1. According to Ken Low, managing partner of SRI, there are currently no more development plots available in the Clementi town center. This is one of the main reasons for the strong sales, as the previous two projects at Clementi Avenue 1, the 505-unit The Clement Canopy and the 640-unit Clavon, had zero unprofitable transactions.

Based on caveats lodged, the average selling price of The Clement Canopy has increased by 45% to $1,922 psf since its launch in February 2017. Likewise, the average selling price at Clavon has jumped by 27% to $2,086 psf since its debut in December 2020.

Elta is strategically located near major employment nodes like the National University of Singapore (NUS), One-North, Pandan Loop Industrial Estate, the Science Park, Jurong Lake District, and the future Dover Knowledge District. It is also within walking distance to Clementi MRT Station on the East-West Line, and the upcoming Cross Island Line, which will run from east to west of Singapore, will have a station at Clementi. According to Mark Yip, CEO of Huttons Asia, “the upcoming Cross Island Line will enhance the connectivity in Clementi and potentially increase the quality tenant pool for Elta.”

The one- and two-bedroom units at Elta were the most popular among investors, while three-bedroom units were preferred by families. The four-bedroom units were purchased by bigger or extended families. “With Clementi’s excellent connectivity and rich amenities, we are confident that it will remain a highly sought-after destination for both homeowners and investors,” said Qian Liang Zhong, chairman of CSC Land Group, a subsidiary of China Construction (South Pacific) Development Co.

Moreover, Clementi Avenue 1 is in the educational belt, with prestigious schools such as Nan Hua High School, NUS High School of Mathematics and Science, and Anglo-Chinese School (Independent) in close proximity. It is also near tertiary institutions like NUS, Singapore Polytechnic, and United World College of South East Asia (Dover Campus). “With primary, secondary, and tertiary schools in the area, families with children can stay for a good 15 years – the duration of a child’s education,” said Low.

Projects at Clementi Avenue 1 are popular with investors due to the profile of tenants – primarily international students and professionals, added Low. For instance, two-bedroom units at The Clement Canopy of 624 to 732 sq ft have been leased at $4,200 to $4,700 per month, or $5.60 psf to $6.42 psf per month in January and February, based on data from EdgeProp Landlens and URA Realis. At Clavon, the latest rental transaction was for a 764 sq ft, two-bedroom unit leased for $4,600 or $6.02 psf per month at EdgeProp Landlens.

When considering investing in a condo in Singapore, capital appreciation should be one of the top factors to consider. This thriving city-state’s advantageous position as a global business hub, along with its strong economic foundation, ensures a constant demand for real estate. Over time, Singapore’s property prices have consistently risen, with condos in prime areas experiencing significant appreciation. For those who enter the market at the opportune moment and hold onto their properties for the long haul, substantial capital gains can be expected. Check out Singapore Projects for potential investment opportunities.

Elta has also benefitted from the healthy pool of HDB upgraders in Clementi and Queenstown, according to Marcus Chu, CEO of ERA Singapore. He shared that over 2,500 HDB units have reached their Minimum Occupation Period (MOP) since 2021, with an additional 1,100 units set to do so this year. “The development is also well-connected to several nature parks, including Clementi Woods Park, West Coast Park, and Kent Ridge Park, offering residents easy access to green spaces,” said Chu.

On the same weekend of Feb 22nd-23rd, the 1,193-unit ParkTown Residence was also launched and sold 1,041 units. Collectively, Elta and ParkTown Residence sold more than 1,300 units, surpassing the 1,083 new homes sold for the entire month of January. “The sales momentum seen towards the end of 2024 has carried into the new year, and we expect the primary market to remain relatively lively in 2025 amid improved sentiment,” said PropNex’s Gafoor.

Huttons Data Analytics estimates developers’ sales in February to exceed 1,500 units. The total sales for the first two months of 2025 are estimated to be between 2,500 and 2,700 units, which is equivalent to 39% of the total new sales of 6,469 units for the entire 2024, according to Huttons. As a result, Huttons has revised its full-year projection for 2025 to be between 7,500 and 8,500 units, from its earlier estimate of 7,000 to 8,000. Its full-year price growth for 2025 is expected to be between 4% and 7%.…