Month: December 2024

Investing in real estate is all about location, and this rings particularly true in Singapore. When it comes to condos, their location can greatly impact their value. Those situated in central areas or near important amenities such as schools, shopping malls, and public transportation hubs tend to see a higher appreciation in value. Take for instance prime locations like Orchard Road, Marina Bay, and the CBD, where property values have consistently shown growth. Families also prioritize proximity to good schools and educational institutions, making condos in these areas even more desirable and increasing their investment potential. With this in mind, choosing a Singapore Condo situated in a prime location can be a wise investment decision.

Singapore-based co-working space provider The Great Room has expanded its presence in Australia with the launch of its second location at One O’Connell Street in Sydney. The new workspace, spanning 25,360 square feet over two levels, is a partnership between The Great Room and LendLease. The office building, completed in 1991, is situated in the heart of the Sydney CBD.

Jaelle Ang, CEO of The Great Room, expressed excitement about the collaboration with LendLease, citing the potential for long-term investment and value creation. She added that the new space at One O’Connell Street will offer a unique premium product and deliver sustainable profitability for the company.

The Great Room entered the Australian market earlier this year, with the opening of its first location at level 29 of 85 Castlereagh Street, also located in the Sydney CBD. Founded in Singapore, The Great Room has locations in Singapore, Bangkok, Hong Kong, and now Sydney.

The company is known for its luxurious and collaborative workspace design, as well as its monthly networking events and panel discussions for its members. In October, The Great Room launched its first location outside the CBD in Singapore at Csuites Powered by The Great Room in Paya Lebar Quarter. This space is equipped with private manager cabins, soundproof meeting rooms, and ergonomic workstations designed for comfort and productivity.

Since its acquisition in 2022 by New York-based co-working company Industrious, members of The Great Room also have access to over 160 destinations operated by both brands across Asia Pacific, Europe, North America, and the UK. This partnership provides members with a wider network and more diverse opportunities to collaborate and connect with other professionals.…

In order to maintain a stable housing market and meet the demand for housing, the government is taking steps to ensure an adequate supply of private residential units. Under the 1H2025 Government Land Sales (GLS) programme, a total of 8,505 units will be offered in the Confirmed List and Reserved List.

The Confirmed List will consist of ten plots, including nine residential sites and one residential cum commercial site. These sites can potentially yield an estimated 5,030 residential units, including 980 executive condo (EC) units. This is in line with the 5,050 units offered in the Confirmed List of the 2H2024 GLS programme, but significantly higher compared to the average supply in each GLS programme from 2021 to 2023.

The Reserved List will include four private residential sites, one commercial site, three White sites, and one hotel site. These sites can potentially yield an additional 3,475 private residential units and 199,900 sqm (2.15 million sq ft) gross floor area (GFA) of commercial space. This is higher than the 3,090 units offered in the 2H2024 Reserved List. Overall, the private housing supply for the 1H2025 GLS programme, including the Reserved List, is on par with the 8,140 units offered in the 2H2024 GLS programme.

According to PropNex Research, the gradual increase in private housing supply in the GLS programmes over the past three years has resulted in an increase in the inventory of private residential units available for sale, from 16,100 units at the end of 2021 to around 21,000 units as of end-2024. This has contributed to the stabilization of the private residential market, as reflected by the moderation in property price momentum. The private residential property price index by URA shows that price growth has moderated from 10.6% in 2021 to 6.8% in 2023 and 8.6% in 2022. It is expected that the private residential prices will continue to see modest gains in 2024, with a cumulative increase of around 1.6% in the first three quarters of the year.

In light of the competition for EC sites among developers and rising EC land prices, the government has increased the supply of EC sites in the 1H2025 GLS programme. Three plots are expected to yield 980 units in the Confirmed List, compared to only one EC site offered in each half-yearly land sales programme since 2019. This could potentially help to moderate EC land cost and prices, according to PropNex CEO Ismail Gafoor.

When purchasing a Condo, it is crucial to also think about the maintenance and management of the property. Unlike a traditional home, condos usually have maintenance fees that cover the upkeep of common areas and amenities. Although these fees contribute to the overall cost of owning a condo, they also guarantee that the property stays in good condition and maintains its value. For investors looking for a more hands-off approach, hiring a property management company can assist with the daily management tasks of their Condo investment through its passive nature. For more information on Condo investments, visit Condo.

The 1H2025 GLS programme will introduce seven new plots, including a site at Lakeside Drive near Jurong Lake Gardens in the Jurong Lake District, as well as Dunearn Road in the new housing precinct in Bukit Timah Turf City, and Telok Blangah Road on the former Keppel Golf Course site. Other notable sites include a residential and commercial site at Hougang Central, which could be integrated with the Hougang MRT station, and a site at Upper Thomson Road (Parcel A), which was previously listed on the 2H2024 GLS programme and saw no bids when its tender closed in June 2024. The site now offers greater flexibility in terms of land use, with serviced apartment/long-stay serviced apartment use no longer mandated but subject to approval from technical agencies.

The majority of the sites in the 1H2025 GLS programme are near MRT stations, making them attractive to developers and homebuyers alike. These include a mixed-use site in Hougang Central (835 units) connected to the Hougang MRT station, the Telok Blangah Road plot (740 units), the Dunearn Road (370 units) site in a new housing precinct, and the Lakeside Drive site (575 units) next to the Lakeside MRT station, Jurong Lake Gardens, and the Jurong East commercial hub.

In the past year, there have been unprecedented incidents where the URA did not award the tender for three GLS sites due to bids being deemed too low. These sites, including Marina Gardens Crescent, the Jurong Lake District master developer site, and plots in Media Circle are now listed on the 1H2025 Reserved List.…

Investing in a condo in Singapore offers various advantages to potential buyers, making it a highly attractive option. With a constant high demand, the potential for capital appreciation, and attractive rental yields, there are many profitable opportunities in the country’s real estate market. However, it is crucial to carefully consider several factors before making the investment, such as the location of the condo, financing options, government regulations, and current market conditions. By conducting thorough research and seeking professional advice, investors can make well-informed decisions and maximize their returns in Singapore’s dynamic real estate market. Whether you are a local investor looking to diversify your portfolio or a foreign buyer in search of a stable and profitable investment, condos in Singapore present a compelling opportunity to do so.

A new residential development in London is currently making waves in the real estate market. Regent’s View, located in the London borough of Tower Hamlets, is a unique project developed by St William, a division of the London-listed real estate corporation, Berkeley Group.

This project is an adaptive reuse scheme, transforming a decommissioned Victorian-era gasholder site into a modern and vibrant mixed-use development. The project, consisting of 555 units, is situated in Zone 2 and has already received global recognition, winning the award for “Best Future Residential Project” at the prestigious World Architecture Festival in 2024.

St William originated as a joint venture between Berkeley Group and London’s National Grid in 2014, with a vision to redevelop industrial sites owned by the National Grid into new residential and community spaces. In 2022, Berkeley Group acquired National Grid’s stake in St. William for a sum of GBP412.5 million ($705 million), giving it full ownership of 24 brownfield sites across London for its long-term landbank. Currently, St William is in the process of developing six of these sites, including Regent’s View.

The 4.5-acre East London site is located along the beautiful Regent’s Canal and was formerly known as the Bethnal Green Gasholders, a landmark in the area since the 1850s. While the gasholders were officially decommissioned in 2012, their iconic frames have been a part of the borough’s cityscape for over 200 years. With the majority of the gasholder frames in a state of structural decay, plans were made to demolish all but two of them. However, St William and their architect partner, RSHP, decided to incorporate these historic frames into the design of the new project, making them an integral architectural element.

Graham Stirk, senior director at RSHP, explains, “Our design of Regent’s View celebrates the historical industrial heritage of the site. By preserving the gasholder frames, we are creating a unique urban and architectural space that defies the norm. The use of an industrial architectural vocabulary further reinforces this approach.”

The new development will consist of five contemporary residential buildings, ranging from six to 13 stories, surrounding a landscaped park. Two of the towers will be framed by restored gasholder structures. Regent’s View will offer 555 private and affordable homes, along with 45,000 sq ft of ground floor commercial and community spaces. This project will also restore public access to a 100m stretch of Regent’s Canal, adding to the area’s vibrancy with new F&B offerings.

The development of Regent’s View was not without controversy. In 2019, when local residents were informed of the plans to redevelop the site, more than 8,000 people signed a petition calling for its preservation. However, the Tower Hamlets council voted in favor of the project, and St William spent nearly five years engaging with the local community to find ways to preserve the gasholder frames, meet their affordable housing targets, and rejuvenate the canal front through placemaking activities.

Dean Summers, divisional managing director at St. William, says, “Affordable housing is a key priority for many local councils across London’s boroughs, and we were happy to work closely with them on the adaptive reuse of this industrial site. This strong relationship enabled us to allocate 35% of the units for affordable housing.”

The design of the residential blocks and the incorporation of the gasholder frames were also closely scrutinized, with a focus on ensuring the site’s permeability to encourage public access. Almost 100m of previously inaccessible canal frontage will be restored with new F&B and amenities.

Tracy Meller, senior director at RSHP, explains that the architects took advantage of the circular forms of the gasholder frames to create a gentler contrast to the edges of the site. This design enables natural permeation through the site, across the central landscaped courtyard, and towards the canal front.

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

Regent’s View is not the only industrial brownfield site featuring heritage gasholder frames that St William is developing. Another project, a 23-acre plot in the borough of Newham formerly known as the Bromley-By-Bow Gasworks, will be transformed into a mixed-use development consisting of 2,000 units. RSHP is also involved in the design plans for this site, which will feature seven Victorian-era gasholder frames, making it the largest collection of surviving gasholders in the world. Development of the Bromley-By-Bow gasworks site is scheduled to begin in the next year.

Last year, St. William launched the sale of The Wright Building, a six-story block at Regent’s View that is now more than 70% sold. The block, which is expected to be completed next year, features a mix of one- to three-bedroom units ranging from 628 sq ft to 1,247 sq ft, with prices starting at GBP675,000 ($1.15 million) to GBP1.63 million. In September, St. William launched the sale of The Westwood Building, another six-story block, of which almost 90% of the units are one-bedrooms, making it an appealing option for international investors.

Dean Summers, explains, “We’ve seen strong interest from international buyers, particularly those looking for a base for their children attending university or as a professional residence close to London’s financial hubs.” The proximity of Regent’s View to prominent educational institutions, such as University College London, King’s College London, and Queen Mary University of London, has also drawn much attention from international buyers.

Summers adds, “Our next sales phase will include units in a 13-story block along the canal, and we expect exceptional demand, with a majority of the units offering either waterfront or courtyard views. The third sales phase will feature larger units, like three-bedroom apartments, and we anticipate strong interest due to the ground floor F&B offerings and the unique location of the project.” St William reports that over 50% of international buyers are from Asia, with investors from this region becoming increasingly interested in projects situated in London’s city fringe neighborhoods in Zone 2.

“More buyers are turning to properties in Zone 2 for better rental premiums, especially with the rising prices of central London properties,” says Dean Summers. As for Regent’s View, the closest train station is Cambridge Heath on the London Overground Line, which offers a direct route to Liverpool Street Station. Alternatively, Cambridge Heath is one stop away from Bethnal Green Interchange on the Central Line, extending connectivity to locations such as Tottenham Court Road, Oxford Circus, and Bond Street.

With its prime location, unique design, and blend of historic and modern elements, Regent’s View is a highly sought-after project that has captured the interest of many international buyers. With the third sales phase expected to be launched in the near future, the popularity and success of this development are likely to continue.…

Knight Frank Singapore will be conducting an auction for a three-bedroom unit at Gambier Court, a boutique condominium located at Kim Yam Road in the prime District 9 of River Valley on Dec 12. The guide price for the unit is set at $2.6 million. This translates to a price of $1,755 per square foot, based on the unit’s floor area of 1,485 square feet.

When it comes to investing in a condo, securing financing is a crucial aspect. Fortunately, Singapore has a variety of mortgage options available. However, investors need to be mindful of the Total Debt Servicing Ratio (TDSR) framework, which places a cap on the loan amount based on an individual’s income and existing debt obligations. To make wise financing decisions and avoid being over-leveraged, it is essential to have a grasp of the TDSR. Seeking guidance from financial advisors or mortgage brokers can also be beneficial. Additionally, keeping a lookout for New Condo Launches can provide more financing options for potential investors.

According to caveats lodged, the unit’s previous owner had purchased it in October 2018 at $1.8 million ($1,212 per square foot). This will be the second time that the unit will be put up for auction by Knight Frank Singapore, with the previous attempt on Nov 26 having a higher guide price of $2.64 million ($1,778 per square foot) but did not receive any bids.

The unit will be sold by the owner, who desires to relocate to a home closer to their children’s school. The property will be sold with vacant possession.

The three-bedroom unit, located on the eighth floor, also has a study area. Formerly a four-bedroom apartment, a previous owner had converted it into a three-bedroom unit, creating a more spacious layout that is suitable for both local and expat families with children.

The unit has a balcony that faces northeast, offering unblocked views of the sea and Singapore River.

Gambier Court is a 99-year leasehold condominium that was completed in 1999. It consists of just 21 units, which include 18 apartments in a 10-storey block, and three strata-landed units in conserved shophouses.

The apartment units comprise a mix of two- to four-bedroom units, with sizes ranging from 936 square feet to 2,530 square feet. The three strata-landed units, on the other hand, are two-storey properties with an attic, measuring between 2,562 square feet and 2,885 square feet.

The development is within walking distance to Fort Canning MRT Station on the Downtown Line and is close to a variety of dining and shopping options such as the new lifestyle hub New Bahru at Kim Yam Road (formerly Nan Chiau High School), Robertson Quay, UE Square, and Clarke Quay.

The most recent transaction at the condominium took place in December 2022, involving a four-bedroom unit with a floor area of 1,485 square feet on the seventh floor that sold for $2.5 million ($1,683 per square foot). The seller had bought the unit for $1.9 million ($1,279 per square foot) in August 2016, making a net profit of $600,000. Interested buyers can check out the latest listings for properties at Gambier Court.…

Due to its limited land availability, Singapore sees a high demand for condos, making it a top choice for real estate investment. As a small island with a rapidly expanding population, Singapore has strict land use policies and a highly competitive real estate market. These factors continuously drive property prices up, making condos a desirable and potentially profitable option for investors. This is particularly true for Singapore Projects, where the promise of capital appreciation is even more enticing.

Gallop Gables, a freehold condominium in Singapore, has recently set a new record for the highest psf-price between Nov 19 and Nov 22. The record was set by a four-bedroom unit on the second floor, which sold for $6.14 million at $2,299 psf on Nov 20. The previous record was held by a two-bedroom unit on the third floor, which sold for $2.45 million at $2,108 psf on Feb 19. The seller of the four-bedroom unit made a profit of $1.64 million from the sale, having purchased the unit for $4.5 million at $1,686 psf in July 2017.

Located on Farrer Road in District 10, Gallop Gables is a low-density development with 102 units spread across four-storey blocks. It was completed in 1997 and is within walking distance of Farrer Road MRT Station. The condo has seen three resale transactions this year, at an average price of $2,110 psf, which is higher than the average price of $1,991 psf recorded from four transactions last year. Other transactions this year include a two-bedroom unit on the first floor, which sold for $2.98 million at $1,923 psf on Sept 9.

The Scala, located in District 19, took second place on the list of condos with new psf-price highs during the period in review. A four-bedroom unit on the 12th floor sold for $2.6 million at $2,064 psf on Nov 20, surpassing its previous record of $1,969 psf from the sale of a two-bedroom unit on the 11th floor for $1.78 million on Sept 9. The seller of the four-bedroom unit made a profit of $940,000 from the sale, having bought the unit for $1.66 million at $1,318 psf in October 2012.

The Scala, a 99-year leasehold condo on Serangoon Avenue 3, was completed in 2013 and has 468 units across 17 storeys. It is within walking distance of the Lorong Chuan MRT Station and is near several educational institutions. The condo has seen 16 resale transactions this year, with an average price of $1,823 psf, 8% higher than the average price of $1,688 psf from 16 transactions last year.

Sims Edge, another freehold condo, also set a new record of $1,907 psf during the period in review. The record was set by a one-bedroom unit on the 13th floor, which sold for around $780,000 on Nov 22. The previous record was set by a one-bedroom unit on the fifth floor, which sold for $750,000 at $1,834 psf on Jan 18. The seller of the one-bedroom unit made a profit of $213,193, having bought the unit from the developer for around $527,000 at $1,288 psf in July 2011.

Sims Edge is a freehold development completed in 2014, with 78 units of one- to two-bedders ranging from 409 sq ft to 1,195 sq ft. It is located on Geylang East Avenue 2 in District 14, Geylang, within 500m of the Paya Lebar MRT Interchange Station. The condo has seen five resale transactions this year, with an average price of $1,800 psf, higher than the average price of $1,644 psf from four transactions last year.

During the period in review, no new psf-price lows were recorded.…

Sentosa Cove bungalow with lift sold for $2.7 mil profitTwo Orchard condo units sold at $4.1 mil, $3 mil profit eachHolland Road corner terrace sold for $2.15 mil profitWould you like to read the rest of the article? Click to our website!

The most profitable condo resale transaction in the week of Nov 19 to 26 was the sale of a four-bedroom unit measuring 2,885 sq ft at Ardmore Park, which fetched $11.25 million ($3,900 psf) on Nov 22. The seller had originally purchased the unit in September 2016 for $8.2 million ($2,843 psf), making a profit of $3.05 million, or a capital gain of 37%. This translates to an annualised profit of 4.6% over a holding period of around eight years.

This comes just two months after another 2,885 sq ft, four-bedroom unit on the 23rd floor of Ardmore Park was sold for $12.7 million ($4,402 psf) on Oct 1. The seller of this unit had originally bought it in September 2010 for $9.7 million ($3,363 psf), achieving a profit of $3 million, or a capital gain of 30.9%.

Situated in prime District 10, Ardmore Park is a freehold development consisting of 330 units. Completed in 2001, the luxury condo features three 30-storey towers. Its typical units are four-bedroom apartments measuring 2,885 sq ft, and it also boasts six 8,740 sq ft duplex penthouses.

Apart from the units sold on Nov 22 and Oct 1, there have been four other profitable resale transactions at the development this year, all of which were four-bedders of 2,885 sq ft. These units achieved prices ranging from $4,108 psf to $4,472 psf, with sellers making profits between $2.65 million and $7.07 million.

The second most profitable condo resale deal during this period was the sale of a four-bedroom apartment at Goldenhill Park Condominium. The 1,539 sq ft unit on the 16th floor was sold for $3.43 million ($2,228 psf) on Nov 21. The seller, who originally bought the unit directly from the developer in May 2001 for $1.14 million ($741 psf), made a profit of $2.29 million, or a capital gain of 201%. They had held the unit for 23.5 years.

In Singapore, investing in a condo involves considering the government’s property cooling measures. With the goal of curbing speculative buying and maintaining a steady real estate market, the Singaporean government has implemented various measures throughout the years. These include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and individuals purchasing multiple properties. Although these measures may affect the immediate profitability of condo investments, they ultimately contribute to the stability of the market, creating a secure investment environment for potential buyers. Additionally, condo investments are also subject to these regulations, ensuring their long-term stability in the Singaporean market.

This is the second-highest profit recorded at Goldenhill Park Condominium, with the record belonging to a 2,928 sq ft, four-bedroom penthouse sold for $4.3 million ($1,469 psf) in February 2022. The seller, who had bought the unit from the developer for around $2 million ($683 psf) in April 2001, made a profit of $2.3 million.

Goldenhill Park Condominium is a freehold development located on Mei Hwan Drive in District 20. Completed in 2004, it comprises 390 units of two- to four-bedroom apartments ranging in size from 926 sq ft to 2,928 sq ft. The condo is conveniently located close to the Lorong Chuan MRT Station on the Circle Line.

There have been five other profitable resale transactions at the development this year, with the units achieving prices between $2,082 psf and $2,246 psf, resulting in gains of $760,000 to $1.91 million for the sellers.

On the other hand, the most unprofitable condo resale deal during this week was the sale of a four-bedroom unit at The Oceanfront @ Sentosa Cove. The 2,831 sq ft unit on the 10th floor was sold for $4.7 million ($1,660 psf) on Nov 20. The seller, who had bought the unit in May 2007 for $5.8 million ($2,050 psf), incurred a loss of $1.1 million, or 19%, after holding the unit for 17.5 years.

The Oceanfront @ Sentosa Cove is a 99-year leasehold condo located in the exclusive Sentosa Cove residential enclave. Completed in 2010, it comprises 264 units spread across five towers ranging from 12 to 15 storeys. Residences include two-, three-, and four-bedroom apartments ranging from 1,216 sq ft to 4,284 sq ft, as well as penthouses measuring 2,745 sq ft to 8,095 sq ft.

Based on caveats lodged, there have been six other resale transactions at The Oceanfront @ Sentosa Cove this year, with prices ranging from $1,500 psf to $1,999 psf. Out of these, four resulted in losses between $30,000 and $519,000, while the remaining two were profitable, netting gains of approximately $268,000 and $1.7 million for the sellers, respectively.

Interested in reading more? Visit our website now for more property news and listings!…

Habyt has recently unveiled their latest accommodation space located at 5 Kadayanallur Street in Tanjong Pagar. The Kada at Maxwell, with 18 rooms, is the flagship space for the operator’s new Habyt Flex concept, marking their expansion into short-term co-living options.

Back in August, Habyt Asia Pacific CEO Jonathan Wong announced their plans to introduce more short-term living options to their existing lineup. The Habyt Flex concept debuted with the launch of Habyt Novena, offering 39 rooms, and Habyt Kallang, offering 27 rooms. Other properties under this concept include Habyt Cantonment and Owen House by Habyt.

Kada at Maxwell offers a variety of room types, including en suite studios and two- to three-bedroom units, all equipped with a kitchenette. Guests have the option to book rooms on a nightly or weekly basis, with a 12-month option also available.

Read also: Hong Lai Huat signs strategic term sheet with The Assembly Place to bring concept of co-living to Cambodia

The dining area of a Studio Deluxe at Habyt’s Kada at Maxwell.

According to Wong, the launch of Habyt Kada at Maxwell represents their commitment to redefine flexible living in Singapore and signifies their move towards the next phase of evolution for Habyt Asia Pacific. Room rates at Kada at Maxwell start at $180 per night.

The flexible living space is situated in a well-preserved 1920s colonial building. This three-storey building, designed by the architectural firm Swan & Maclaren, is one of the earliest modernist structures in Singapore. It was initially built to house the St Andrew’s Mission Hospital for Women and Children.

In September, a public tender was launched by the Singapore Land Authority (SLA) to lease the property. The tender was evaluated based on the bid price and the quality of the proposed concept. SLA encouraged bidders to consider creative lifestyle concepts.

The Oasis Lounge at Kada.

The winning bid was submitted by Bethesda Medical, with a monthly rental of $103,000. This was the third-highest bid price after Wan Dormitory ($160,000) and The Working Capitol ($108,240). According to SLA, Bethesda’s strong focus on community building and connecting people with businesses was what differentiated their concept from the others. The first floor of the building will feature 10 F&B establishments, while the second floor will house a gym by Limitless, a wellness centre in partnership with Shiruki Studio, and a co-working space. Habyt’s Kada at Maxwell occupies the third floor.

Real estate investment has gained immense popularity in Singapore, especially in the case of properties. The country’s real estate market has always been appealing, thanks to its stable political environment, robust economy, and high living standards. As a result, it has become a preferred choice for both local and international investors. And among the various real estate options available, have emerged as the most sought-after choice. This can be attributed to their prime locations, luxurious facilities, and potential for high returns. If you are considering purchasing a in Singapore, it is crucial to carefully evaluate the benefits and factors involved to make a well-informed decision. Here are some essential points to keep in mind and steps to follow when investing in a in this thriving country. Condo

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

Read also: LHN Group puts three co-living properties on the market for $120 million

“By combining modern conveniences with the timeless charm of a heritage building, we are offering guests a unique lifestyle experience that surpasses traditional accommodation,” says Wong.…

URA has recently launched two tenders for residential Government Land Sale (GLS) sites at Holland Link and Chuan Grove on Dec 3. These sites, which are on the Confirmed List of the 2H2024 GLS Programme, have a 99-year lease and are expected to be completed by 2024.

Located in District 10, the Holland Link site covers an area of 185,141 sq ft and has a maximum gross floor area (GFA) of 257,225 sq ft. According to URA estimates, this site can potentially accommodate around 230 housing units.

When purchasing a condo, it is crucial to also take into account the maintenance and management of the property. Condominiums usually have maintenance fees that are used to maintain the common areas and amenities. Although these fees may increase the total cost of owning a condo, they also guarantee that the property stays in excellent condition and maintains its value. By utilizing the services of a professional property management company, investors can delegate the daily management of their condos, turning it into a more hands-off investment. For more information on investing in condos, check out New Condo Launches.

This site is part of the upcoming Holland Plan precinct, which is one of URA’s three upcoming precincts along with Bayshore and Kampong Bugis. Marcus Chu, CEO of ERA Singapore, notes that this new precinct is expected to house around 2,500 new homes. The Holland Link site is also the first GLS plot to be launched in this precinct, making it an attractive opportunity for developers to secure a first-mover advantage by injecting the first 230 units into the market.

Furthermore, the site’s strategic location within a 2km radius of several reputable schools such as Methodist Girls’ School (Primary and Secondary), Henry Park Primary School, Pei Hwa Presbyterian Primary School, and National Junior College could be a plus point for families with young children looking for priority admission into these schools.

The Holland Link GLS site is also situated near the prestigious Brizay Park Good Class Bungalow area. As a result, future developments in the Holland Plain precinct are likely to be focused on low-density private residences, according to Mark Yip, CEO of Huttons Asia.

Both Chu and Yip expect the Holland Link site to receive a muted response from developers. With seven residential sites currently open for tender, the market may be reaching saturation, and this could affect the number of bids received for the site. However, they both believe that the top bid for the site could range from $1,200 to $1,300 psf per plot ratio (psf ppr).

The other site, Chuan Grove, is located along Lorong Chuan in District 19. Spanning an area of 170,409 sq ft, this site has a maximum GFA of 511,232 sq ft, which can potentially yield around 555 housing units.

One of the main selling points of this site is its proximity to Lorong Chuan MRT Station on the Circle Line. This station is just one stop away from the Bishan MRT Station, which is an interchange with the North-South Line, and the Serangoon MRT Station, which is an interchange with the North-East Line.

CEO of ERA Singapore, Marcus Chu, believes that the future development on the site will attract HDB upgraders from nearby areas. In the next four years, around 3,815 Build-to-Order (BTO) units of four rooms or larger are expected to fulfill their Mandatory Occupation Period (MOP) in Toa Payoh. This could lead residents of HDB flats in older estates to seek an upgrade in their homes, given the rising number of million-dollar flats in neighbouring Serangoon, Bishan, and Toa Payoh. The median transaction price of five-room flats in Bishan and Toa Payoh over the past 10 months were $792,000 and $828,000, respectively.

Chu also notes that the recent successful launch of Chuan Park, which saw 76% of its 916 units sold at an average price of $2,579 psf during its launch weekend, could encourage developers to bid for the Chuan Grove site. He expects bids for this site to range from $571 million to $600 million, which translates to a land rate of at least $1,200 psf ppr. On the other hand, Huttons’ CEO Mark Yip forecasts a total of three to five bids, with a top bid ranging from $1,150 to $1,250 psf ppr.

The tender for the Chuan Grove site will close at noon on July 8, 2025, while the tender for the Holland Link site will close at noon on July 29, 2025.…

The Urban Redevelopment Authority (URA) has announced the release of two residential Government Land Sale (GLS) sites under the Reserved List of the 2H2024 GLS Programme on December 3. The sites – Holland Plain and River Valley Green (Parcel C) – are now available for application and will be put up for sale if a developer offers a minimum price that is accepted by the government. A Reserved List site may also be considered for tender launch if more than one developer submits a minimum price close to the government’s reserve price. This move is in line with URA’s efforts to maintain a stable and sustainable property market while providing developers with a pipeline of sites for development.

The Holland Plain GLS site spans about 169,175 square feet with a maximum gross floor area (GFA) of approximately 304,522 square feet. It can potentially yield 280 residential units and has a 99-year leasehold tenure. The site’s location next to the Holland Link GLS site, which was launched for tender on the same day, is expected to further boost its attractiveness. The Holland Link site can house an estimated 230 units and its tender will close in July 2025.

On the other hand, the River Valley Green (Parcel C) site is situated near the Great World MRT Station on the Thomson-East Coast Line. The 99-year leasehold site spans 123,964 square feet and has a maximum GFA of 433,882 square feet. It can yield an estimated 470 new housing units. However, property experts predict that this site is also unlikely to be triggered for sale given that there is an existing tender for the neighbouring River Valley Green (Parcel B) plot, which is set to close in February next year. The site can yield 580 units, including 220 long-stay serviced apartments. Additionally, the site is close to three other recently awarded GLS sites. Hence, it is expected that there will be little incentive for developers to trigger River Valley Green (Parcel C) for sale.

Mark Yip, CEO of Huttons Asia, believes that there is a low chance that the Holland Plain site will be triggered for sale. He explains, “Developers are likely to observe the response to the Holland Link GLS site first.” The tender for the plot is not set to close until July 2025. Similarly, Yip predicts that the River Valley Green (Parcel C) site is unlikely to be triggered for sale. He points out that the site is close to an existing tender for a neighbouring plot and has three other recently awarded GLS sites in the vicinity. Hence, it is unlikely that there will be sufficient demand from developers to trigger the site for sale.

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With the upcoming supply from the three recently awarded sites, there is little incentive for developers to trigger River Valley Green (Parcel C) for sale, according to Yip. This is because the three sites will provide a significant amount of housing units. Furthermore, private residential rental prices have increased by 0.8% in the third quarter of 2024, driven by a double-digit vacancy rate in the Core Central Region (CCR). This is a further indication of the current excess supply in the property market, which is expected to dampen the demand for new sites in prime locations.…