National Condo

Investment in Asia Pacific (Apac) real estate continued to grow in the second half of 2024, reaching a total of US$83.2 billion ($112 billion), a 6% increase year-on-year, according to recent research by Colliers. This brings the full-year investments for 2024 to a total of US$155.9 billion, a 12% growth compared to the previous year. The numbers cover the top nine markets in the region, including Australia, Mainland China, Hong Kong, India, Japan, Singapore, South Korea, New Zealand and Taiwan.

According to Chris Pilgrim, Colliers’ managing director of global capital markets, Asia Pacific, this growth in investments demonstrates the resilience of the Apac real estate market and sets the stage for a robust 2025. Pilgrim also notes that domestic investors have been the key drivers of growth in markets such as South Korea, Taiwan and New Zealand, contributing over 80% of real estate inflows in these countries during the second half of 2024.

Office sector continues to lead investment volume in Apac, accounting for US$26.5 billion or 32% of the total volume in 2H2024. For the entire year, office investments reached US$51.4 billion, a 14% increase year-on-year. The industrial and logistics sector was the second largest contributor, attracting US$22.6 billion in investments in 2H2024, or 27% of the total. This brings total investments in this sector for 2024 to US$39.4 billion, a 29% increase compared to the previous year.

The retail sector also saw a significant rebound, registering US$15 billion in investments in 2H2024, mainly driven by large deals in Australia and South Korea. The total retail investments for 2024 reached US$26.1 billion, growing by 27% year-on-year.

Investing in a condominium in Singapore brings many advantages, with one of the most notable being the potential for capital appreciation. Singapore’s location as a global business hub and its strong economic stability continually drives demand for real estate in the country. As a result, property prices have consistently shown an upward trend, particularly in prime locations where condos are highly sought after. For investors who make smart purchases and hold onto their properties for an extended period of time, significant capital gains can be expected. To learn more about the latest condo projects in Singapore, visit Singapore Projects.

Pilgrim expects domestic capital to continue dominating most markets in 2025. At the same time, offshore investments are expected to increase, driven by improving investor confidence and attractive valuations. While office and industrial segments are predicted to maintain strong investment activity, he also believes that retail, hospitality, and alternative asset classes are poised for growth as investors take advantage of recovery momentum and evolving consumer trends. “With economic growth remaining robust and continued policy support, Apac’s real estate market is well-positioned for sustained investment activity in 2025,” he states.…

On March 4, 2024, Lee Chee Koon, the Group CEO of CapitaLand Investment Limited (CLI), was named the ‘Industry Figure of the Year’ for Asia Pacific at the PERE Global Awards. This prestigious award, given out by the London-based publication covering private equity real estate markets, recognizes influential firms, individuals and standout deals from the past year. In addition, CLI was also awarded the runner-up for ‘Firm of the Year’ in Asia Pacific.

The winners of the 2024 PERE awards were chosen by a panel of PERE journalists, a departure from previous editions where readers voted on shortlisted submissions to determine the winners.

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In a press release on March 4, CLI announced that CEO Lee has been recognized for his instrumental role in driving the company’s transformational growth and significant impact on the private real estate industry in the Asia Pacific region. Since taking the helm as CapitaLand’s group CEO in September 2018, Lee has spearheaded key moves such as the acquisition of Ascendas-Singbridge in 2019 and the 2021 restructuring of the CapitaLand Group. This restructuring saw the listing of CLI and the privatization of its real estate development arm, CapitaLand Development.

In 2024, CLI also made strategic investments including the acquisition of real estate investment manager SC Capital Partners Group and the purchase of Wingate Group Holdings’ property and corporate credit investment management business. These moves have put the company on track to manage $200 billion in funds by 2028.

Investing in a condo has numerous advantages, and one of them includes the opportunity to leverage the property’s value for future investments. A lot of investors utilize their condos as security to secure additional financing for new investments, expanding their real estate portfolio. This approach has the potential to increase returns, although it also entails certain risks. As such, having a solid financial plan is crucial, and it’s essential to carefully consider the potential effects of market fluctuations. Additionally, staying up-to-date with new condo launches can also present potential investment opportunities in the ever-changing real estate market.

CLI’s achievements under Lee’s leadership have cemented its position as a leading player in the Asia Pacific private real estate market. The company’s future looks promising as it continues to expand its portfolio and pursue growth opportunities in the region.…

Singapore-based private equity real estate firm, SC Capital Partners Group, has recently announced the sale of their student accommodation property in Sydney, Australia. The group states that the property, situated on Anzac Parade and Lorne Avenue in Kensington, was sold at a considerable premium to its original purchase price and at a 19% premium to its current book value. The buyer of the property is the University of New South Wales (UNSW) in Sydney.

In the realm of real estate investment, location is a vital factor to consider, and this holds especially true in Singapore. The position of a condominium can greatly impact its potential for appreciation in value, with those situated in central areas or near important amenities like schools, shopping centers, and public transportation hubs being highly desirable. In Singapore’s real estate market, prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD) have consistently demonstrated an upward trend in property values. Additionally, condos in these areas are also highly sought after due to their proximity to reputable schools and educational institutions, making them an ideal choice for families and further increasing their investment potential. Moreover, with the constant influx of new condo launches, investors have even more opportunities to secure properties in these highly coveted locations. New Condo Launches present an exciting chance for potential investors to acquire properties in these prime areas and potentially reap significant returns in the future.

SC Capital Partners initially acquired the property in 2016 for a reported price of A$57 million. The purpose-built student accommodation spans 85,035 square feet and features 233 beds, as well as a commercial podium on the ground floor. It is conveniently located within 600 meters of the UNSW Kensington Campus and is currently fully leased to the university under a 20-year master lease signed in 2019. With the sale of this asset, SC Capital Partners Group continues to strengthen their portfolio in the Asia-Pacific region.…

Shares of City Developments, a real estate company, saw a significant decline of 5.47% or 28 cents when trading resumed today after a hiatus caused by an internal dispute that has made its way to the courts. On February 26, trading in the company’s shares was stopped and a scheduled results briefing was cancelled, after news of a conflict between executive chairman Kwek Leng Beng and his son, group CEO Sherman Kwek, was made public. The company released a statement on March 3, saying that it would refrain from commenting on the allegations and would not take a stance on their validity, as they are currently under court proceedings. CDL maintained that its operations continue as usual, and Sherman Kwek remains the group CEO until the board makes a decision to change leadership. Despite this, analysts have lowered their recommendations and target prices for the stock. UOB Kay Hian’s Adrian Loh downgraded his rating to “hold” from “buy” in a note on February 27, stating that the company’s FY2024 figures missed both his and consensus’ estimates. He also added that the dispute between the company’s leadership will hinder the stock’s performance, despite its valuable assets in Singapore and globally. Loh revised his target price to $4.60, which is calculated based on two standard deviations below its five-year average price-to-book (P/B) of 0.72 times. In their February 27 note, DBS Group Research’s Derek Tan and Tabitha Foo see some hope amidst the turmoil. They stated that while investor sentiment may be dampened in the short term, the company’s fundamentals remain stable, as key management continues to run it. The duo highlighted that CDL is currently trading at an attractive valuation of 0.5 times P/B and 0.3 times P/RNAV, both of which are lower than during the Global Financial Crisis. Tan and Foo also added that once the board dispute is resolved, shareholder returns and profitability can be prioritized, leading to a gradual recovery in the stock’s value. Despite cutting their target price from $10.50 to $6.70, they maintained a “buy” recommendation, based on a 60% discount to RNAV, which is an increase from their previous valuation multiple of 35% discount. OCBC Investment Research also maintained a “buy” recommendation, with a lowered fair value of $6.02, down from $6.57, based on an RNAV discount of 60%, which is wider than their previous 45% discount. They expressed that the company’s stock will face uncertainty until the disagreement is resolved, which may impact its value. They shared that in the past, when director Leng Peck resigned in October 2020, the stock dropped by 20% within the following two weeks. However, they are hopeful for a positive resolution and a potential share price increase in the long run, seeing how the stock is under-owned by investors. On February 26, in a note by Citi Research’s Brandon Lee, he stated that the impact of this internal conflict is difficult to predict. Lee feels that the issue of an unclear board and company leadership, coupled with a potential lengthy court case, will be a hindrance to the stock’s performance. However, he pointed out that CDL is highly undervalued and under-owned, which could serve as a positive catalyst once the disagreement is resolved. Lee, who recommended a “buy” rating and a $9.51 target price, based his valuation on the stock trading at less than a third of its book value. In their February 26 note, JP Morgan analysts Mervin Song and Terence M Khi called the turn of events a “dynastic discord”, resulting from years of disappointment, underperformance, and public disagreement among certain members of the extended Kwek family. They expressed their hope for a positive resolution and reconciliation among the family members. Despite reducing their target price from $6.05 to $4.85, they have a “buy” recommendation, which is based on a 60% discount to their estimated RNAV of $12.10 per share.

When it comes to investing in Singapore, it is crucial for international investors to be familiar with the various regulations and limitations surrounding property ownership. In general, foreigners are permitted to acquire condos in Singapore with relatively few restrictions compared to landed properties, which have more rigid ownership requirements. However, foreign buyers are still subject to the Additional Buyer’s Stamp Duty (ABSD), currently set at 20% for their first property purchase. Despite the added expenses, the consistent stability and potential for growth in the Singapore real estate market continue to make it an attractive option for foreign investment. Consider looking into Singapore condos for your next investment opportunity.…

Elite UK REIT’s trustee, Perpetual (Asia) Limited, recently sold the Crown Buildings located in Caerphilly, Wales, for GBP710,000 ($1.2 million) at an 18% premium. According to a bourse filing on March 3, the property was valued at GBP600,000 at the end of 2024, based on an independent valuation by CBRE. This is up from its valuation of GBP530,000 at the end of 2023. The net proceeds from the sale will be used to pay off the company’s outstanding loans. Crown Buildings, Caerphilly, which has a total gross floor area of 20,712 sq ft, was featured on Elite UK REIT’s website. The sale is a result of the company’s successful GBP28 million preferential offering in January 2024, which led to a reduction in its leverage ratio from 50.0% at the end of 2023 to 43.4% at the end of 2024. Similarly, its net gearing ratio decreased from 47.5% to 42.5% during the same period. Fortunately, there is no debt maturing in 2025 and 2026, and the company’s refinancing obligations are not due until 2027.

It is crucial for foreigners looking to invest in Singapore to familiarize themselves with the country’s regulations and limitations surrounding property ownership. While purchasing condos is relatively unrestricted for foreign buyers, owning landed properties comes with stricter rules. It should be noted that foreign investors are required to pay the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for their initial property purchase. However, despite this added expense, the stability and growth potential of the Singapore real estate market remain appealing to foreigners. In fact, the continuous launch of new condo projects, such as New Condo Launches, continues to attract foreign investment in the country’s property market.…

Mandarin Gardens has just recorded its most profitable condo resale transaction to date, with a four-bedroom unit fetching $4.88 million, or $1,284 psf, on Feb 11. The previous record was held by a four-bedroom unit that sold for $4.1 million in September 2021.

Mandarin Gardens has achieved its most profitable resale transaction to date on Feb 11 by earning $3.83 million profit from selling a 3,800 sq ft unit at $1,284 psf. According to URA records, the eighth-floor unit last changed hands for $1.05 million ($276 psf) in June 2003. This translates to an annualised capital gain of 7.4% over 21½ years. After the recent transaction, the development has recorded another transaction with profit and surpassing the previous record with 364.8% of their original purchase price in just 17 years.

The second most profitable resale transaction was recorded at Parvis, a freehold development in December 2021. The 3-bedroom unit of 2,260 sq ft was transacted at $4.78 million($2,115 psf) in Feb 10. The seller earned a profit of $2 million (71.9%) from the deal or an annualised gain of 3.6% over 15 years. As Parvis is a 12-storey development comprising of 248 residential units, it has two luxury residential towers of 43 and 34 storeys. Amenities include concierge services, a gym, a lap pool and a sky pool on the 35th floor.

On the same period, the most unprofitable transaction was recorded at Scotts Square with a loss of $745,880 (19.5%) that sold at $3.08 million ($3,252 psf) on Feb 13. It had last changed hands for about $3.83 million ($4,039 psf) in December 2007. This translates to an annualised loss of 1.3% over 17 years. As Scotts Square is a mixed-use freehold development located along Scotts Road in the Orchard shopping belt, the average price of resale units has been trending downwards since its 2007 launch according to EdgeProp’s analytical tools. Based on a 12-month rolling average, prices peaked at $4,054 psf in July 2007 before reaching a floor of $3,330 psf in August 2020.

Mandarin Gardens and Parvis has achieved its most successful resale transactions in 17 and 15 years respectively with 3.6%-7.4% annualised capital gain. On the other hand, the average resale price of units at Scotts Square has been reported to decrease since its launch in 2007.

Investing in a condo in Singapore presents many advantages, with one of the most notable being its potential for capital appreciation. Thanks to its strategic position as a global business center and its robust economic conditions, the demand for real estate in Singapore remains consistently high. This has led to a steady upward trend in property prices over the years, particularly in prime locations where condos have seen significant appreciation in value. For savvy investors who enter the market at the right time and hold onto their properties for the long haul, the potential for substantial capital gains is highly promising.…

During the period of Feb 7 to 16, the sale of a two-bedroom unit at Hill House has set a new record high psf-price for private condos. The 999-year leasehold development reached a new peak of $3,398 psf when a 452 sq ft unit on the eighth floor was sold by the developer for $1.54 million on Feb 16. This transaction marginally surpassed the previous high of $3,378 psf set on Feb 11 when another 452 sq ft, two-bedroom unit on the eighth floor was sold for $1.53 million.

Hill House is a boutique condo in prime District 9, comprising 72 units and launched in 2022. The development is located at the top of Institution Hill, off River Valley Road, and features 40 one-bedroom units of 431 sq ft, 24 two-bedroom apartments ranging from 452 sq ft to 624 sq ft, and eight three-bedroom apartments spanning 753 sq ft.

To find out the latest transaction prices and available units, search for the latest New Launches.

The second spot on the list of private condos achieving new psf-price highs during the period is taken by the 999-year leasehold condo The Tresor. A resale transaction of a 1,421 sq ft unit on the fifth floor set a new high of $2,625 psf when it was sold for $3.73 million on Feb 10. This surpassed the previous peak of $2,501 psf set in March 2024, when a 1,399 sq ft, three-bedroom unit on the second floor was sold for $3.5 million.

This transaction marks the first resale at The Tresor in a year, based on caveats lodged.

The Tresor, completed in 2007, comprises 62 units of two-, three-, and four-bedroom apartments ranging from 990 to 2,896 sq ft. It is located just a five-minute walk from Tan Kah Kee MRT Station on the Downtown Line and within walking distance of Coronation Shopping Plaza, Serene Centre, Adam Food Centre, and the Singapore Botanic Gardens.

The third spot on the list is taken by Jadescape, where a 1,647 sq ft, four-bedroom unit on the 22nd floor was sold for $4.05 million on Feb 7, setting a new record of $2,459 psf for the District 20 development. This surpasses the previous record of $2,446 psf set in January when a 1,259 sq ft unit on the 10th floor was sold. In terms of absolute price, the most expensive resale unit to date is a 4,230 sq ft, six-bedroom penthouse unit that fetched $10.2 million ($2,399 psf) in December 2024.

Jadescape, completed in 2022, comprises 1,206 units across seven residential towers. It is located at the junction of Marymount Road and Shunfu Road and features one- to five-bedroom apartments ranging from 527 sq ft to 2,099 sq ft, as well as two penthouses of 4,230 sq ft. The condo is within walking distance of Marymount MRT Station on the Circle Line and a four-minute walk from Sin Ming Plaza.

When it comes to investing in Singapore, purchasing a condo can offer a lucrative opportunity for capital appreciation. Due to its advantageous position as a global business hub and a stable economy, Singapore consistently experiences a high demand for real estate. As a result, the property market has consistently shown an upward trend, with prime locations for condos seeing significant appreciation over time. For investors who enter the market at the optimal moment and hold onto their properties for the long term, the potential for substantial capital gains is promising. With the availability of various Singapore projects, there are plenty of options for investors to choose from to secure their desired property for potential growth.

Data compiled on EdgeProp Research indicates that Jadescape commands one of the highest average transacted prices among condos within a 1km radius. The average transacted price of Jadescape units for transactions in the last 12 months stands at $2,192 psf, compared to other nearby condos such as Tresalveo on Marymount Terrace, 183 Longhaus on Upper Thomson Road, and Thomson V Two on Sin Ming Road, which have average transacted prices ranging from $1,712 psf to $1,912 psf across the same period. All three of these developments are freehold.

No new psf-price lows were recorded during the period. To check out the latest listings for Hill House, The Tresor, and Jadescape properties, ask Buddy about them.…

When purchasing a condominium, one must not overlook the importance of its maintenance and management. Usually, condos have associated maintenance fees that encompass the maintenance of shared spaces and amenities. While these fees may increase the total expenses, they serve to maintain the property’s quality and uphold its value. Utilizing the services of a property management company can assist investors in managing their condos on a regular basis, making it a more effortless investment. Additionally, Singapore Projects can also be a valuable option to consider for potential investments.

CT Pemimpin: A Gem in Land-Scarce Singapore
Chiu Teng Group has established a reputation for developing quality commercial and industrial spaces in Singapore. Their latest offering – CT Pemimpin, a freehold development, is sure to delight property investors and business owners looking for an exceptional opportunity in the land-scarce city state.

Located at 43 Jalan Pemimpin in the Central Region, CT Pemimpin is a nine-storey, partial ramp-up factory with 56 strata-titled units and three canteen units. Selected units on the first and fifth levels have mezzanine floors and floor heights ranging from 5.6m to 7.35m.

Rare Freehold Status
With most industrial developments in the market being limited to a 30-year or 60-year lease, the freehold status of CT Pemimpin is a standout feature. Moreover, buyers of commercial and industrial properties are not subject to Additional Buyer’s Stamp Duty, making it an attractive option for investors and eligible foreigners.

Kelvin Fong, Deputy CEO of PropNex Realty, says, “Being a freehold development in this centralised location, it will be good investment asset to both investors and end-users.”

Generous Amenities
CT Pemimpin boasts a one-to-one carpark ratio with 59 lots, including two electric vehicle lots, three lorry lots for smaller vehicles, and two handicapped lots. The building will be well-served by two passenger lifts and a service lift. Each unit has its own private toilet, providing convenience for occupants.

Ken Low, SRI managing partner, says, “One of the standout perks of CT Pemimpin is the carpark lot allocated for each of the 59 units, offering convenience for business owners. This will ensure seamless accessibility and time-saving.”

Centralised Location
Situated in District 20, CT Pemimpin is surrounded by well-established townships such as Bishan, Upper Thomson, and Ang Mo Kio, making it highly popular with buyers and tenants. Its strategic location offers excellent accessibility and connectivity to all parts of Singapore, with three MRT lines serving the area.

Doris Ong, Deputy CEO of ERA, says, “Owning a freehold property in Singapore’s central region isn’t just a smart investment – it’s a strategic business asset. Positioned in one of the city’s most dynamic and prestigious locations, it offers an impressive corporate address, unmatched connectivity, and enduring potential for growth.”

Green Features
CT Pemimpin will be designed with thoughtful ‘end-of-trip’ facilities, including a shower room, bicycle racks, and storage lockers. Other green features include a sky garden with two rooftop pavilions for outdoor gatherings, rooftop solar panels, and EV charging stations. The building will also have water-saving fittings, motion-sensor lighting, and double-glazed windows (selected units) for sustainability.

Mark Yip, CEO of Huttons Asia, says, “CT Pemimpin aims to shape a greener and more committed future with its sustainable features such as water-saving fittings, double-glazed windows, and many other green features. The development is perfect for industries ranging from e-commerce, media houses, telecommunications, to software development.”

Established Developer
Chiu Teng Group, set up in 1999, is a reputable property developer and builder with a portfolio of successful industrial and residential projects such as CT FoodNEX, CT Foodchain, The Creek@Bukit, Tagore8, and CT Hub & Hub 2.

CT Pemimpin is open for preview until March 5, 2025. Secure your rare freehold industrial space today by calling 8100 8017 or visiting Chiu Teng Group to arrange a viewing.

Don’t miss out on this opportunity to own a gem in land-scarce Singapore!…

Two Contiguous Retail Units at Sim Lim Square Listed for Auction

Two adjacent retail units located on the third floor of Sim Lim Square will be the highlight of ERA’s upcoming auction on 27 February, with a combined guide price of $3.38 million.

With a guide price of $2.08 million or $2,171 psf, the larger unit measures 958 sq ft while the smaller unit measures 570 sq ft and has a guide price of $1.28 million or $2,246 psf.

This sale, which is the owner’s first time listing the units in ERA’s auction, gives buyers the opportunity to purchase the units together or separately. According to Assistant Vice President of Auction and Sales at ERA, Alison Lee, the units have been listed with competitive prices. “They are priced slightly below the market average in order to encourage a quick sale.”

Based on EdgeProp Singapore’s data analysis, retail units at Sim Lim Square have an average transacted price of $2,997 psf in the past 12 months. In December 2024, a 592 sq ft shop located on the ground floor was sold for $1.92 million or $3,241 psf.

Known for its wide range of electronics, gadgets and computer parts, Sim Lim Square has established itself as a tech hub. The development also features various other businesses such as eateries and traditional Chinese medicine shops.

Both of the retail units up for sale are currently tenanted and are generating a monthly rental income of around $4.50 psf. Rental data from EdgeProp Singapore indicates that retail units at Sim Lim Square can yield anywhere between $4.20 psf and $7.30 psf every month, based on an average of 12 months.

In order to make informed decisions about investing in Singapore Condos, it is important to consider the government’s property cooling measures. Through the years, the Singaporean government has implemented various policies aimed at controlling speculative buying and maintaining a stable real estate market. One of these measures is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those looking to purchase multiple properties. While these measures may have an impact on the immediate profitability of Singapore Condo investments, they also play a critical role in ensuring the long-term sustainability of the market, making it a more secure environment for investment.

The owners of Sim Lim Square had tried to sell the development through a collective sale attempt in April 2019 at a reserve price of $1.25 billion. However, it was relaunched in December at the same price, but did not see any success in finding a buyer.

In 2022, a collective sale committee was formed to explore the option of a second attempt, but it never materialised. Another committee is now being formed by Lee to investigate the potential for a collective sale in the near future.

Sim Lim Square, situated on Rochor Canal Road in District 7, is a commercial development comprising a total of 492 units spread across six floors and two basement levels. Built in 1987 with a 99-year leasehold that started in 1983, it sits on a land area of 78,152 sq ft. The Downtown Line’s Rochor and Jalan Besar MRT Stations are within walking distance, and the Bugis MRT Interchange links the East-West and Downtown Lines.…

wifi“Retiree Mr Chong has provided support for his three sons when they were setting up their homes. While his eldest son had purchased a private condo, his two younger sons had opted for the more affordable option of executive condos (ECs). According to Chong, purchasing an EC during its launch is an obvious choice as it offers a good entry price. He recalls how his second son had bought a three bedroom unit at the 531-unit Hundred Palms Residences, which was launched in July 2017. However, he was not able to get a four-bedroom unit as they were quickly sold out. The project by Hoi Hup Realty received a whopping 2,000 e-applications and was completely sold out on the first day of its launch. The average price for an EC on Yio Chu Kang Road was $841 per square foot (psf) and was later completed in 2019. With the average price of units sold in January and February 2025 at $1,769 psf, the project saw a 110% price gain in just eight years. This substantial capital gain has motivated many to upgrade to private housing, says Chong. However, when Chong’s youngest son decided to set up his own home three years ago, Chong seized the opportunity to sell his family home of ten years — a 1,260 sq ft, three-bedroom unit at The Interlace. Then in 2021, the Chongs bought a four-bedroom dual-key resale unit in the 418-unit Twin Fountains in Woodlands. The EC project was completed in 2016 by a joint venture between Frasers Property and Lum Chang. Due to new restrictions, only Singapore citizens and permanent residents (PRs) are able to purchase ECs during its launch and are able to sell them in the resale market after the 10th year of obtaining Temporary Occupation Permit (TOP). This dual-key unit in Twin Fountains allows Chong the privacy of occupying the one-bedroom studio while his son and family occupy the three-bedroom apartment. It has a shared main entrance, but each apartment has a separate entrance. Despite purchasing at $1,000 psf, which was considered a record high, the Chongs have still seen a 30% increase in resale prices at Twin Fountains, mentions Chong. In October last year, City Developments launched the 348-unit private condo Norwood Grand at Champions Way in Woodlands. Its prices set a new benchmark for the area, with 84% of the units being sold during its launch weekend at an average price of $2,067 psf. According to Chong, this launch has generated renewed interest in the northern region following news of revitalisation and new infrastructure, such as the Johor Bahru-Singapore Rapid Transit System (RTS) with the Singapore terminus in Woodlands North. While EC prices continue to rise, caps on loan quantum mean that buyers will need to shell out a larger upfront payment, says Eugene Lim, ERA Singapore’s key executive officer. Buyers will also have to meet the Mortgage Servicing Ratio (30% cap) and Total Debt Servicing Ratio (55% cap) requirements when taking a loan. He adds that assuming a 30-year-old buyer with a household income of $16,000 and a maximum loan tenure of 30 years, the maximum loan amount for the buyer is estimated to be around $1 million if based on the stress test of a 4% interest rate for the MSR. As for the price gap, there is still a 42% median price gap between EC and non-landed private condo units in the Outside Central Region (OCR), notes Lim. For instance, a 900-1,000 sq ft EC unit has a median price of $1.48 million, while a similar-sized private condo unit has a median price of $2.1 million. The pricing factor, along with the fact that buyers do not need to dispose of their existing homes before making their purchase, help to sustain demand for ECs, he says. This is especially true for HDB owners who do not need to pay additional buyers’ stamp duty (ABSD) when purchasing a new EC. Furthermore, EC buyers are able to opt for the Deferred Payment Scheme (DPS) and pay a slightly higher purchase price. Under the DPS, buyers only need to pay a deposit, with their loan being deferred until the EC is completed. This helps them avoid servicing two mortgages while waiting for their new home to be completed. ERA’s Lim adds that the slow and strategic roll out of new EC launches across different locations — Tampines, Pasir Ris, and Tengah — will cater to the housing needs of Singaporeans. Lastly, OrangeTee Group’s chief researcher and strategist Christine Sun found that the price gap between ECs and 99-year leasehold private condos in the OCR has narrowed in recent years. The gap was 49.4% in 2023, 44.2% in 2024, and 43.6% in January 2025. She believes that the rising prices of ECs, which have increased by 9.6% from 2023 to January 2025, are the main reason for this gap narrowing. The increase is significantly higher than the 5.3% increase for 99-year leasehold private condos in the OCR over the same period. According to Sun, buyers find ECs a more affordable option compared to 99-year leasehold private condos in the same area. Additionally, higher costs and regulations mean that buyers now have to shell out more upfront costs when purchasing an EC. Despite this, buyers are still not deterred by the higher prices of ECs due to their greater affordability and lower pricing psf. The abundant availability of ECs that do not require ABSD and offer the DPS also help to sustain demand. The upcoming launch of three new EC projects this year is also expected to cater to the needs of buyers across the island. As such, demand for ECs is set to continue in the future.”

Investing in real estate is a decision that requires careful consideration, and one of the key factors to keep in mind is location. This is particularly true in the case of Singapore. Condos located in central areas or in close proximity to essential amenities, such as schools, shopping malls, and public transportation hubs, have a tendency to appreciate in value. Prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD) have consistently shown growth in property values over the years. Families are drawn to these areas due to their accessibility to good schools and educational institutions, making condos in these locations highly sought after and increasing their investment potential. As you consider investing in Singapore, keep in mind the importance of location, and consider exploring options such as Singapore Condos in these prime areas.…