Month: February 2025

Condo projects with most unprofitable transactionsRead also: Condo resale profit records broken twice in less than a monthThis calculator estimates the resale profit or loss based on estimated sale and purchase prices, and the number of years between the resale and the purchase. You can also compare the estimated resale profit/loss of your unit with a selection of similar units within 500m, 1km, 1.5km or 2km radius from your unit.×

Mandarin Gardens achieved the highest resale profit for a condo transaction during the week of February 7 to 14. The unit, which spans 3,800 sq ft and has four bedrooms, was sold for $4.88 million or $1,284 psf on February 11. According to records from the Urban Redevelopment Authority (URA), the unit on the eighth floor was last sold for $1.05 million ($276 psf) in June 2003.

This means that the seller made a profit of $3.83 million, which is equivalent to 364.8% of the original purchase price. This also translates to an annualized capital gain of 7.4% over a period of 21½ years. The sale at Mandarin Gardens also broke the record for the most profitable transaction at the development. The previous record was held by a 3,068 sq ft four-bedroom unit on the 20th floor, which was sold for $4.1 million ($1,336 psf) in September 2021. The unit was originally purchased for $1.4 million ($456 psf) in August 2001, resulting in a profit of $2.7 million (193%) or an annualized gain of 5.5% over 20 years.

Resale prices at Mandarin Gardens have been stagnant since September 2023 when the average resale price crossed the $1,300 psf mark, according to EdgeProp Singapore’s analytical tools. Prices peaked at $1,316 psf in June 2024 before dropping slightly to $1,310 psf as of February 25.

The unit sold on February 11 is one of 18 four-bedroom units at the development. The last four-bedroom unit to be sold at Mandarin Gardens was a similar 3,800 sq ft unit on the ninth floor, which was sold for $4.26 million ($1,122 psf) in June 2023.

Investing in a condo requires careful consideration of not just the property itself, but also its maintenance and management. This is because condos usually come with maintenance fees that cover the maintenance of communal areas and facilities. While these fees may increase the overall cost of owning a condo, they also guarantee that the property stays in good condition and maintains its value. To make condo ownership more passive, investors can hire a property management company to take care of the day-to-day management. With services such as Singapore Projects, investors can have peace of mind knowing that their condo is being efficiently managed.

Mandarin Gardens is a 99-year leasehold development located along Siglap Road in District 15. It sits on a site of 1.07 million sq ft and has a remaining lease of about 56 years. The development comprises 1,006 units spread across 17 blocks ranging from nine to 23 storeys. The units are a mix of one to two-bedroom apartments from 732 sq ft to 1,001 sq ft and three to four-bedroom units from 1,528 sq ft to 3,800 sq ft. The development also includes 11 strata commercial units.

The second most profitable resale transaction during the week was recorded at Parvis, a freehold development located along Holland Hill in prime District 10. On February 10, a 2,260 sq ft three-bedroom unit on the second floor of the development was sold for $4.78 million ($2,115 psf). The unit was last sold for $2.78 million ($1,230 psf) in December 2009, resulting in a profit of $2 million (71.9%) or an annualized gain of 3.6% over 15 years.

This also makes the second-floor unit the third-most profitable transaction at Parvis. The record for the most profitable sale is currently held by a 2,605 sq ft four-bedroom unit that was sold for $5.4 million ($2,073 psf) in November 2022. The unit was purchased in December 2009 for $3.21 million ($1,230 psf), resulting in a profit of $2.19 million (68.2%) or an annualized gain of 4.1% over 13 years.

The Feb 10 unit is also the second profitable transaction to take place at Parvis this year. The first was recorded on January 6, when a 2,788 sq ft four-bedroom unit on the 12th floor was sold for $6.1 million ($2,188 psf). The seller had purchased the unit for $4.25 million ($1,524 psf) in 2011, thus earning a profit of $1.85 million (43.5%) after 14 years. It is currently the fifth-most profitable transaction at Parvis to date.

Parvis is a 12-storey development comprising 248 residential units. The apartments are a mix of two-bedroom units from 990 sq ft to 1,442 sq ft and three- to four-bedroom units from 1,701 sq ft to 2,605 sq ft. There are also three- and four-bedroom penthouses ranging from 2,293 sq ft to 3,229 sq ft.

Some of the schools within 2km of Parvis include Henry Park Primary School along Holland Grove Road, Nanyang Primary School along Coronation Road, New Town Primary School along Tanglin Halt Road and Queenstown Primary School along Margaret Drive. The development is a five-minute walk to Holland Village MRT Station on the Circle Line.

The most unprofitable transaction recorded between February 7 and 14 was the sale of a two-bedroom unit at freehold development Scotts Square. The 947 sq ft unit on the 28th floor was sold for $3.08 million ($3,252 psf) on February 13. It was last sold for about $3.83 million ($4,039 psf) in December 2007, resulting in a loss of $745,880 (19.5%) for the seller. This translates to an annualized loss of 1.3% over 17 years.

Developed by Wharf Estates Singapore, Scotts Square is a mixed-use freehold development located along Scotts Road. According to EdgeProp’s analytical tools, it has recorded 69 unprofitable transactions since its launch in 2007, with 18 (26%) of them resulting in a seven-figure loss. The most unprofitable transaction was the sale of a 1,249 sq ft three-bedroom unit, which was sold for $3.65 million ($2,923 psf) in February 2017. The previous owners had purchased the unit at launch in August 2007 for about $5.21 million ($4,171 psf), resulting in a loss of approximately $1.56 million (30%) over 10 years.

The average resale price of units at Scotts Square has been on a downward trend since its launch in 2007. Based on a 12-month rolling average, prices peaked at $4,054 psf in July 2007 before reaching a low of $3,330 psf in August 2020. The average price of resale units at Scotts Square in January was $3,398 psf.

Scotts Square is a mixed-use freehold development located along Scotts Road in the Orchard shopping belt. Completed in 2011, it comprises two luxury residential towers of 43 and 34 storeys with a total of 338 apartments and a four-storey retail podium. The residential units are a mix of one- to three-bedroom units ranging from 603 sq ft to 1,249 sq ft. Amenities at the development include concierge services, a gym, a lap pool, and a sky pool on the 35th floor.…

The sale of a two-bedroom unit at Hill House marked the highest psf-price achieved among private condos from Feb 7 to 16. The 999-year leasehold development set a new record of $3,398 psf when the 452 sq ft unit on the eighth floor was sold by the developer for $1.54 million on Feb 16. This transaction narrowly surpassed the previous peak of $3,378 psf set on Feb 11 when a similar unit on the eighth floor was sold for $1.53 million.

Singapore’s strong economy, stable political landscape, and excellent living standards have made investing in a condo a top choice for both local and foreign investors. With a thriving real estate market, there are endless opportunities available, and condos are particularly appealing for their convenience, amenities, and potential for lucrative returns. If you’re considering investing in a Singapore condo, here are some key factors to keep in mind and steps to take to ensure a successful investment. Singapore Condo should definitely be on your radar.

Hill House is a boutique condo located in prime District 9, comprising of 72 units and launched in 2022. It consists of mostly one-bedroom units of 431 sq ft, as well as a few two- and three-bedroom units ranging from 452 sq ft to 753 sq ft. Its location at the top of Institution Hill, off River Valley Road, makes it a highly sought-after development.

According to URA caveats, 37 units (51.4%) have been sold at Hill House since its launch in November 2022, at an average price of $3,152 psf. The development is currently under construction and is expected to be completed in 3Q2026. In the first two months of 2024, eight units were transacted at an average price of $3,190 psf, including a 753 sq ft, three-bedroom apartment that was sold for $2.39 million on Jan 5.

The second highest psf-price achieved during this period was at The Tresor, a 62-unit development located on Duchess Road in prime District 10. 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 in March 2024, when a 1,399 sq ft, three-bedroom unit on the second floor was sold for $3.5 million.

The Tresor, which was completed in 2007, comprises two-, three- and four-bedroom apartments ranging from 990 sq ft to 2,896 sq ft. It is strategically located within a five-minute walk to Tan Kah Kee MRT Station on the Downtown Line, and close to amenities such as Coronation Shopping Plaza and Serene Centre.

The third highest psf-price achieved during the period in review was at Jadescape, a 99-year leasehold condo that was launched in 2022. 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. This surpassed the previous record of $2,446 psf set in January, when a 1,259 sq ft unit on the 10th floor was sold. The most expensive resale unit at Jadescape to date is a 4,230 sq ft, six-bedroom penthouse that was sold for $10.2 million ($2,399 psf) in December 2024.

Jadescape is located at the junction of Marymount Road and Shunfu Road, with a total of 1,206 units across seven residential towers. It is within walking distance to Marymount MRT Station on the Circle Line and a four-minute walk to Sin Ming Plaza. According to data from EdgeProp Research, Jadescape commands one of the highest average transacted prices among condos within a 1km radius, at $2,192 psf. In comparison, other freehold condos in the vicinity such as the Tresalveo on Marymount Terrace, 183 Longhaus on Upper Thomson Road and Thomson V Two on Sin Ming Road, have average transacted prices ranging from $1,712 psf to $1,912 psf over the same period.

No new record lows were recorded during the period in review. Overall, Hill House, The Tresor, and Jadescape have set new high price points, indicating a strong demand for prime district condos. Interested buyers can look for the latest listings and sale transactions online to stay updated on the market trends.…

Riding on the success of Chiu Teng Group’s premium commercial and industrial developments in Singapore, the renowned developer is proud to present their latest freehold project – CT Pemimpin. This new development is sure to excite property investors and business owners alike, with its promising location in the highly sought-after Central Region.Located at 43 Jalan Pemimpin, CT Pemimpin is a nine-storey, partial ramp-up B1 industrial building featuring 56 strata-titled units and three canteen units. Selected units on levels one and five come with mezzanine floors and impressive floor heights ranging from 5.6m to 7.35m. The modern drop-off point at CT Pemimpin, as shown in the artist’s impression, is set to impress its visitors.Rare freehold status stands outCT Pemimpin’s freehold status is a standout feature in the current market, where industrial developments are mostly limited to 30-year or 60-year leases. Additionally, commercial and industrial property buyers are exempted from the Additional Buyer’s Stamp Duty (ABSD) by the government, making these developments even more attractive to both investors and foreigners who are eligible to purchase.”With its central location and freehold status, CT Pemimpin is a sound investment choice for both investors and end-users,” says Kelvin Fong, Deputy CEO of PropNex Realty.The development boasts an exceptional one-to-one carpark ratio, with 59 carpark lots including two electrical vehicle lots, three lorry lots for vehicles under 7.5m, two handicapped lots, and 34 bicycle lots. Along with two passenger lifts and a service lift, each unit comes with private toilets for added convenience.SRI managing partner, Ken Low, says, “One of CT Pemimpin’s most attractive features is the allocated carpark lot for each of its 59 units, providing ultimate convenience for business owners. This allows for smooth accessibility and time-saving.”He adds, “The partial ramp-up design also enhances accessibility for day-to-day operations, improving logistics efficiency. With its superior central location and convenient features, CT Pemimpin is the perfect choice for businesses looking for convenience, functionality, and ease of access.”Central location enhances appealSituated in District 20, a popular location for buyers and tenants, CT Pemimpin offers a wide range of amenities from well-established townships like Bishan, Upper Thomson, and Ang Mo Kio. Its strategic location makes for easy accessibility to all parts of Singapore via various transport modes. Three MRT lines serve the industrial estate, providing excellent convenience for those who commute.”Owning a freehold property in Singapore’s central region isn’t just a smart investment – it’s a strategic business asset. Located in one of the city’s most dynamic and prestigious areas, it offers an impressive corporate address, unmatched connectivity, and enduring potential for growth,” says Doris Ong, Deputy CEO of ERA.CT Pemimpin is within a five-minute walk from Marymount MRT station (Circle MRT Line) and a five-minute drive from Upper Thomson MRT station (Thomson-East Coast Line) and Bishan MRT station (North-South MRT Line). It is accessible for motorists via major expressways such as PIE and CTE and only an eight-minute drive from Novena and a 15-minute drive from Orchard Road. Its connectivity will be further enhanced with the upcoming North-South Corridor expressway, which includes dedicated bus and cycling lanes and is expected to reduce travel time from the north into the city when it is completed in phases starting from 2027.A wide selection of retail and dining options can be found at popular suburban shopping hubs, including Junction 8, Thomson Plaza, Velocity@Novena Square, AMK Hub, NEX, Woodleigh Mall, and Toa Payoh HDB Hub, all just a short drive away. Numerous reputable schools, such as Raffles Institution, Catholic High School, and Eunoia Junior College, are close by.Green features for a sustainable futureCT Pemimpin will be designed with thoughtful ‘end-of-trip’ facilities, such as shower rooms, bicycle racks, and storage lockers. Other green features include two rooftop pavilions and a sky garden ideal for gatherings, rooftop solar panels, EV charging stations, and a recycling corner. Notable sustainable features include water-saving fittings, motion-sensor lightings, and double-glazed windows for selected units.Mark Yip, CEO of Huttons Asia, states, “The many sustainable features, including water-saving fittings, double-glazed windows for selected units, and a myriad of other green features, make CT Pemimpin a great choice for many end-users in various industries from e-commerce to media houses, telecommunications, software development, and more.”Set up in 1999, Chiu Teng Group has built a reputable name for itself as a reliable property developer and builder, particularly in the industrial and commercial sectors. Its impressive development portfolio includes projects such as CT FoodNEX, CT Foodchain, The Creek@Bukit, Tagore8, and CT Hub & Hub 2.The preview of CT Pemimpin will run until March 5, 2025. To secure your rare freehold industrial space, call 8100 8017 or visit Chiu Teng Group to arrange a viewing today.

Overall, purchasing a condominium in Singapore provides numerous benefits. These include strong demand, the potential for increased value, and attractive rental yields. However, it is crucial to carefully consider several factors like location, financing options, government regulations, and market conditions before making a decision. Through thorough research and seeking professional advice, investors can make informed choices and maximize their returns in Singapore’s ever-evolving real estate market. Whether you are a local investor looking to diversify your portfolio or a foreign buyer seeking a stable and lucrative investment, condos in Singapore offer a compelling opportunity. Additionally, keeping track of New Condo Launches can help further enhance your investment decisions.…

The cityscape of Singapore boasts sleek skyscrapers and state-of-the-art facilities. Condominiums, typically situated in sought-after locations, offer a perfect fusion of opulence and practicality that entices both locals and foreigners alike. These residential complexes boast an array of conveniences including but not limited to lavish swimming pools, top-notch fitness centers, and top-notch security services, elevating the standard of living and making them a desirable choice for potential renters and homebuyers. For investors, these added benefits result in higher rental profits and a steady appreciation in property values over time. With the addition of Singapore Condo, the allure of these properties is further enhanced.

The upcoming ERA auction on Feb 27 will feature two adjacent retail units on the third floor of Sim Lim Square, with a total guide price of $3.38 million.The larger of the two units is 958 sq ft, while the smaller unit is 570 sq ft. Both are currently tenanted and generate a monthly rental income of about $4.50 psf. This is the first time both units have appeared on the auction listings by ERA.Located on a 99-year land tenure site, Sim Lim Square is a well-known tech hub with a variety of electronics, gadgets and computer parts retailers, as well as eateries and traditional Chinese medicine shops. This strata-titled commercial development houses a total of 492 retail and office units over six floors and two basement levels.Competitively priced slightly below the market average, the larger unit has a guide price of $2.08 million ($2,171 psf), while the smaller unit has a guide price of $1.28 million ($2,246 psf). This is in line with the average price of $2,997 psf for retail units at Sim Lim Square in the last 12 months, according to EdgeProp Singapore’s analytical tools.The most recent transaction at the development was a 592 sq ft shop on the ground floor that was sold for $1.92 million ($3,241 psf) in December 2024. Despite its owners’ attempt for collective sale in 2019, the development did not find a buyer, and another attempt in 2022 did not materialise, leading to the formation of a new committee to explore another collective sale bid in the future.Both retail units at Sim Lim Square are available for purchase together or individually, with a competitive rental yield of between $4.20 to $7.30 psf monthly. The development is within walking distance to Rochor and Jalan Besar MRT stations on the Downtown Line, and the Bugis MRT Interchange that connects the East-West and Downtown lines.…

Explore comprehensive property database to analyse latest transaction prices and trendsFind ECs.

Mr Chong, a retiree, provided support for his three sons when they were setting up their homes. His eldest son purchased a private condo, while his two younger sons opted for executive condos (ECs). According to Mr Chong, buying an EC at a new launch is a no-brainer and even if purchased shortly after the five-year minimum occupation period (MOP), it is still a good entry price.

Mr Chong has firsthand experience with this as his second son bought a three-bedroom unit at Hundred Palms Residences, a 531-unit project by Hoi Hup Realty, which was launched in July 2017. He wanted to buy a four-bedroom unit but they were sold out quickly. The project received 2,000 e-applications and was completely sold out on the first day of launch at an average price of $841 psf. The EC, located on Yio Chu Kang Road, was completed in 2019. Based on caveats lodged in January and February 2025, the average price of sold units was $1,769 psf, translating to a 110% price gain in eight years.

Hundred Palms Residences by Hoi Hup Realty, where all 531 units were sold out in a single day at an average price of $841 psf (Photo: Agents)

When it comes to investing in Singapore, it is crucial for foreign investors to be well-versed in the regulations and limitations surrounding property ownership. Generally, condos are readily available for purchase by foreigners, unlike landed properties which have more stringent ownership guidelines. Nevertheless, foreign buyers are still subject to the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for their initial property acquisition. Despite this added expense, the reliability and potential for growth in the Singapore real estate market remain alluring to foreign investment. With Singapore Projects constantly emerging, the country continues to be an attractive destination for property investors.

Based on the selling price of $1.95 million ($1,849 psf) for a 1,055 sq ft, three-bedroom unit that changed hands in February, Mr Chong estimates that his second son’s EC unit has appreciated by about $1 million since its purchase. Such significant capital gains may have motivated many to upgrade to private housing, notes Mr Chong.

Over three years ago, when Mr Chong’s youngest son was setting up his own home, he sold his 1,260 sq ft, three-bedroom unit at The Interlace, which had been the family’s home for the past decade. In 2021, the Chongs bought a 1,399 sq ft, four-bedroom, dual-key resale unit at Twin Fountains, a 418-unit EC in Woodlands. The EC was developed by a joint venture between Frasers Property and Lum Chang, and was launched in 2013 and completed in 2016. ECs are only open to Singapore citizens and permanent residents (PRs) at launch and after the five-year MOP. Foreigners can only buy ECs in the resale market after the 10th year of obtaining Temporary Occupation Permit (TOP).

The dual-key unit provides Mr Chong with privacy as he occupies the one-bedroom studio, while his son and family occupy the three-bedroom apartment. As a dual-key unit, each apartment has its own separate entrance but they share a main entrance.

The 418-unit Twin Fountains by a joint venture between Frasers Property and Lum Chang was completed in 2016 (Photo: Lum Chang website)

Even though they paid $1,000 psf for the unit in 2021, which was considered a new high at that time, recent resale prices are even higher, according to Mr Chong.

Read also: Sim Lian to preview Aurelle of Tampines on Feb 22 at prices from $1,651 psf

Based on a caveat lodged in February, the latest transaction of a 1,206 sq ft, four-bedroom unit was $1.62 million ($1,344 psf). “Even if you miss the boat, like my youngest son, and we bought in at $1,000 psf, resale prices at Twin Fountains are now 30% higher,” adds Mr Chong.

Last October, City Developments launched the 348-unit private condo Norwood Grand at Champions Way in Woodlands. About 84% of the units were sold during its launch weekend at an average price of $2,067 psf, setting a new benchmark for Woodlands. According to Mr Chong, the launch price of Norwood Grand is 53.8% higher than the latest resale price at Twin Fountains. He believes this is due to the announcement of revitalisation and new infrastructure, including the Johor Bahru-Singapore Rapid Transit System (RTS) with the Singapore terminus in Woodlands North, which has revived interest in the northern region.

With the rising prices of ECs and caps on loan quantum, buyers will now have to shell out a larger cash outlay, says Eugene Lim, key executive officer of ERA Singapore. For ECs, the monthly household income ceiling is $16,000. Buyers are also required to meet the Mortgage Servicing Ratio (30% cap) and Total Debt Servicing Ratio (55% cap) requirements if taking a loan. Mr Lim estimates that a 30-year-old EC buyer with a household income of $16,000 and a maximum loan tenure of 30 years can take on a maximum loan amount of around $1 million, based on a 4% interest rate for MSR. He believes that despite the higher upfront costs, buyers are not deterred by the higher prices of ECs due to their affordability and lower price per square foot (psf) compared to 99-year leasehold private condos in the Outside Central Region (OCR).

There is still a 42% median price gap between similar-sized homes in the EC market and 99-year leasehold private condos in the OCR, notes Mr Lim. For instance, the median price of an EC unit sized at 900-1,000 sq ft is about $1.48 million, while that of a similar-sized unit in a private condo is about $2.1 million. “Hence, in terms of absolute price, buyers, particularly HDB upgraders, still see value in ECs,” he explains.

In 2024, the average transaction price of new non-landed private condos in the suburbs or OCR crossed the $2,200 psf mark. Meanwhile, new ECs in 2024 were sold at a median price of $1,539 psf based on caveats lodged, says Ismail Gafoor, CEO of PropNex. This reflects a price gap of 44.2%, which Mr Gafoor expects to increase as the median price for new condos this year is likely to “tip over $2,200 psf again”.

Christine Sun, OrangeTee Group chief researcher and strategist, found that the median price gap between new ECs and new private condos in the OCR has narrowed in recent years. Based on data from URA Realis, the gap has narrowed from 49.4% in 2023 to 44.2% in 2024 and to 43.6% in January 2025. Ms Sun attributes this to EC prices rising at a faster pace of 9.6% from 2023 to January 2025, compared to a 5.3% increase in non-landed home prices in the OCR over the same period.

Three-bedroom premium showflat at the 760-unit Aurelle of Tampines sales gallery, which is targeted for launch on Mar 8 (Photo: Samuel Isaac Chua/EdgeProp Singapore)

Mr Gafoor also believes that demand for ECs is sustainable due to their affordability and lower price psf compared to 99-year leasehold private condos in the same area. He also points out that EC buyers do not have to sell their existing home before purchasing an EC, and HDB upgraders do not incur additional buyer’s stamp duty (ABSD) when buying a new EC. EC buyers may also opt for the Deferred Payment Scheme (DPS) at a slightly higher purchase price. Under the DPS, they only need to pay a deposit, with the loan deferred until after the completion of the EC. “This way, buyers will not need to service two mortgages while waiting for the new home to be completed,” he adds.…

Branded residential projects in Asia have reached a record market value of US$26.6 billion ($35.5 billion) according to data collected by C9 Hotelworks, an Asia-based hospitality consultancy. The luxury market currently offers over 68,000 units, with Vietnam taking the lead in the number of branded residential units with 17,680 across 59 properties. The average price for a branded residential unit in Vietnam is around US$350 per square foot (psf).Thailand is in second place with 16,271 branded residential units in 65 properties, with an average price of US$510 psf. Coming in third is the Philippines with 13,276 units in 46 properties, priced at an average of US$400 psf.Singapore has the highest prices for branded residences in the region, at an average of US$2,140 psf, followed by Japan at around US$1,935 psf. However, there are also emerging markets that have experienced rapid growth in the branded residential sector in recent years, such as South Korea with 3,026 units across 16 properties and Malaysia with 6,014 units in 24 projects, according to Bill Barnett, managing director of C9 Hotelworks.Infographic: C9 HotelworksIn the post-Covid-19 era, 56% of the existing branded residential supply in Asia is in urban locations, dominating the market in terms of value. In South Korea, urban branded residences are priced at an average of US$2,670 psf, while resort projects there typically sell for US$1,040 psf. Similarly, in Thailand, urban branded residences fetch around US$770 psf, compared to US$430 psf in resort locations.Approximately 12,330 of the 80 developments affiliated with luxury hotel brands in Asia make up 31% of the market supply, and according to Barnett, data shows that reputable brands can command premium pricing of 30%-35% on top of the market rate in a particular country. This is also a way for developers to increase their market share in a particular region.The appeal of top hospitality and lifestyle brands has also led to an increase in licensing fees, with luxury hotel and lifestyle brands now asking for a 6%-10% cut from the sale of each branded residential unit. Last August, Thai developer Ananda Development and German automaker Porsche, via its lifestyle brand Porsche Design, unveiled the ultra-luxury Porsche Design Tower Bangkok in Thonglor. With only 22 units, prices range from US$15 million to US$40 million. This is the first Porsche residential tower in Asia, following the Porsche Design Tower Miami a decade ago.From left: Saowarin Chanprakaisi, vice-president of business development, The Ascott; Teo Junrong, vice-president of business development, The Ascott; David Johnson, CEO of Delivering Asia; Gianfranco Bianchi, general manager, Asia Pacific at The One Atelier; Jason Thelen, senior director of sales and marketing at Sudara Residences; Ananth Ramchandran, head of advisory and strategic transactions, hotels and hospitality Asia, CBRE; Lee Nai Jia, head of real estate intelligence of digital and software solutions, PropertyGuru Group and Bill Barnett, managing director of C9 Hotelworks. (Picture: C9 Hotelworks)Gianfranco Bianchi, general manager of Asia Pacific at The One Atelier, an international design consultancy specialising in branded residences for lifestyle brands, notes that in recent years, more luxury lifestyle brands have explored partnerships to license their branding into real estate developments across the Asia Pacific region.Read also: Investors step up demand for branded residences in Southeast AsiaAdvertisementAdvertisementOne Atelier has partnered with several high-profile brands to create branded residences, including the 28-unit Fendi Casa Residences by Armani in Miami, the 259-unit 888 Brickell by Dolce & Gabbana in Miami, the 90-unit Büyükyalı Residences in Istanbul, Turkey, and the Karl Lagerfeld Villas, a collection of five ultra-luxury villas in Marbella, Spain.While hospitality-affiliated branded residences provide top-notch hospitality services, fashion or design-branded residences offer a rare trophy home that conveys the namesake design and luxury aesthetic that have made such brand names synonymous with luxury lifestyles today, says Bianchi.Ananth Ramchandran, head of advisory and strategic transactions in hotels and hospitality (Asia) at CBRE, says property cooling measures have led many high-net-worth Singapore-based buyers of branded residences to consider trophy assets in nearby regional markets.“We’ve experienced a significant reduction in terms of the discussion and inquiries from Singapore developers to explore high-end ultra-luxury branded residential projects in Singapore. Developers are severely discouraged from stepping into this high-end segment because property cooling measures have dampened foreign buyer demand,” he adds.888 Brickell is a branded residence in Miami that was designed by the fashion house Dolce & Gabbana.Singapore-based high-net-worth buyers are also increasingly eyeing luxury-branded residences in destinations such as Phuket and Bangkok in Thailand, Bali in Indonesia, and emerging markets in Vietnam. These locations are typically just a two-hour flight from Singapore.“The relatively short travel time and availability of regularly scheduled direct flights make it much more appealing to Singapore-based buyers,” he says and adds that last month, flight carriers like SIA, Scoot, AirAsia and Jetstar completed about 150 flights per week between Singapore and Phuket.Read also: KSK Land launches second tower of KL luxury project 8 ConlayAdvertisementAdvertisementJason Thelen, senior director of sales and marketing at Sudara Residences, a Thai-based developer, adds: “Singapore has quickly become our top regional market for buyers looking for second homes, making up over 45% of regional purchases.”Hospitality operators such as The Ascott are also tapping into the future growth of the branded residential segment in Asia, says Saowarin Chanprakaisi, vice-president of business development at The Ascott. “We believe the emotional resonance of our brands like Ascott, The Crest Collection and Oakwood Premier have reputational strengths in the market.”“Branded residential operators must develop and maintain trust in the brand that it can deliver the level of service that will eventually translate into the long-term value proposition of the asset,” she says, adding that Ascott is looking to expand its market share in the region by partnering with developers who would like to enter the branded residential market.

Purchasing a condo in Singapore offers many benefits, with one of the major ones being the potential for capital appreciation. The country’s strategic location as a global business hub, combined with its stable economic fundamentals, results in a consistent demand for real estate. This has led to a gradual increase in property prices over the years, particularly for condos in prime locations. Savvy investors who make smart purchases and hold onto their properties for an extended period can reap significant profits from the rising values. By investing in a condo in Singapore at the right time, individuals can take advantage of the continuous demand for real estate and enjoy considerable capital gains in the long run.

According to research conducted by C9 Hotelworks, a hospitality consultancy based in Asia, the market value of branded residential projects in Asia has reached a record high of US$26.6 billion ($35.5 billion). This market offers over 68,000 luxury units, with Vietnam leading the way with 17,680 units across 59 properties. The average price for a branded residential unit in Vietnam is about US$350 per square foot (psf).Thailand takes second place with 16,271 branded residential units across 65 properties, with most units priced at US$510 psf. The Philippines is third on the list with 13,276 units across 46 properties, with prices averaging US$400 psf.However, in Singapore, branded residences command the highest prices in the region at an average of US$2,140 psf, followed by Japan at approximately US$1,935 psf. Interestingly, there are new and emerging markets in Asia where branded residential projects have seen rapid growth in recent years, including South Korea with 3,026 units across 16 properties and Malaysia with 6,014 units in 24 projects, according to Bill Barnett, managing director of C9 Hotelworks.Infographic: C9 HotelworksIn the current post-Covid-19 era, 56% of the existing supply of branded residences in Asia are located in urban areas, which dominate the market in terms of value. In South Korea, urban branded residences are priced at an average of US$2,670 psf, while resort projects typically sell for US$1,040 psf. Similarly, in Thailand, urban branded residences fetch around US$770 psf, compared to US$430 psf in resort locations.Approximately 12,330 units of the 80 developments affiliated with luxury hotel brands in Asia make up 31% of the market supply. According to Barnett, the data shows that a reputable brand can help a property command a premium pricing of 30%-35% on top of the market rate in the country, and it can also help developers increase their market share.The appeal of top hospitality and lifestyle brands has also led to an increase in licensing fees, with luxury hotel and lifestyle brands now asking for a 6%-10% cut from the sale of each branded residential unit. For example, Thai developer Ananda Development and German automaker Porsche, via its lifestyle brand Porsche Design, unveiled the ultra-luxury Porsche Design Tower Bangkok in Thonglor last August. With just 22 units, prices range from US$15 million to US$40 million. This is the first Porsche residential tower in Asia, following the Porsche Design Tower Miami a decade ago.From left: Saowarin Chanprakaisi, vice-president of business development, The Ascott; Teo Junrong, vice-president of business development, The Ascott; David Johnson, CEO of Delivering Asia; Gianfranco Bianchi, general manager, Asia Pacific at The One Atelier; Jason Thelen, senior director of sales and marketing at Sudara Residences; Ananth Ramchandran, head of advisory and strategic transactions, hotels and hospitality Asia, CBRE; Lee Nai Jia…

UEM Sunrise, a Malaysian property developer, and Singapore-listed GuocoLand have recently signed a Memorandum of Understanding (MOU) for the first Johor-Singapore Special Economic Zone (JS-SEZ) between private companies from both countries. This partnership aims to jointly develop UEM Sunrise’s freehold land in Iskandar Puteri, Johor, in order to accelerate growth within the JS-SEZ.

The MOU signing event was held during the opening of UEM Sunrise Gallery Iskandar Puteri, which showcases the company’s vision for the development of Iskandar Puteri. Located in Flagship Zone B of the JS-SEZ, Iskandar Puteri specializes in various sectors, including manufacturing, business services, education, health, and tourism.

When making the decision to invest in a Singapore condo, it is crucial to factor in the maintenance and management of the property. Condominiums often come with maintenance fees that cover the upkeep of shared spaces and amenities. While these fees may increase the overall cost of ownership, they also play a significant role in maintaining the property’s value. In order to make this investment more passive, many investors opt to hire a property management company to handle the day-to-day management of their condos. This can provide peace of mind and ensure that the property remains in top condition.

Through this collaboration, UEM Sunrise and GuocoLand will focus on improving connectivity, fostering talent development, and creating a business-friendly ecosystem to attract more investments into Iskandar Puteri. The selected land plots in Gerband Nusajaya and Puteri Harbour will be the main focus of the partnership.

The partnership is not just about development, but also about creating a sustainable economic hub that will drive long-term growth, create jobs, and strengthen the JS-SEZ ecosystem. According to Hafizuddin Sulaiman, CFO of UEM Sunrise, this is a strategic partnership that aims to shape a dynamic and future-ready economy in Johor.

UEM Sunrise has already played a key role in the urban development of Iskandar Puteri through previous projects such as the Aspira series and Senadi Hill residential townships, as well as commercial and retail hubs. In addition, the group is currently developing a 380-acre industrial park in Gerband Nusajaya.

Datuk Hisham Hamdan, chairman of UEM Sunrise, believes that this collaboration, along with developments in Iskandar Puteri and other strategic partnerships, will contribute to the larger vision of positioning Johor as a dynamic and forward-thinking economy.

Cheng Hsing Yao, CEO of GuocoLand, adds that the company will bring its expertise in real estate development and asset management, as well as an understanding of the needs of companies from Singapore, Malaysia, and China that wish to establish a presence in the JS-SEZ. The combined expertise of both companies will enable them to shape Iskandar Puteri and the wider JS-SEZ through innovative developments.

The growth in Iskandar Puteri will be further driven by incentives and support schemes introduced by the Malaysian and Singaporean governments, such as special tax rates, stamp duty exemptions, and capital allowances, aimed at attracting more investments into the JS-SEZ.…

Malaysian property developer UEM Sunrise and Singapore-listed GuocoLand have recently signed a historic Memorandum of Understanding (MOU) for the first ever Johor-Singapore Special Economic Zone (JS-SEZ) between private companies from both nations. The MOU, announced on February 27, will see the two groups collaborate to develop UEM Sunrise’s selected freehold land in Iskandar Puteri, Johor, with the aim of driving growth within the JS-SEZ. The signing took place at the opening of UEM Sunrise Gallery Iskandar Puteri, which showcases the developer’s vision for the region.

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Investing in a condo also offers the advantage of leveraging its value for future investments. A number of investors opt to use their condos as collateral to secure additional financing for other investments, ultimately growing their real estate portfolio. While this approach can potentially increase returns, it also carries risks. It is therefore important to have a solid financial plan in place and carefully consider the potential consequences of market fluctuations. In addition, consider exploring investment opportunities in Singapore Condos, which could further expand your investment options.

Iskandar Puteri, which is located in Flagship Zone B of the JS-SEZ, is known for its diverse economy, with a focus on sectors like manufacturing, business services, education, health, and tourism. This makes it an attractive destination for investment, especially for those looking to invest in overseas properties.

The MOU covers UEM Sunrise’s selected plots of land in Gerband Nusajaya and Puteri Harbour, two key master-planned areas within Iskandar Puteri. The partnership is expected to activate Iskandar Puteri’s potential and enhance its attractiveness for investment by improving connectivity, fostering talent development, and creating a business-friendly ecosystem.

According to Hafizuddin Sulaiman, CFO of UEM Sunrise, “This partnership is not just about development, but also about shaping a thriving end-to-end, future-ready economic hub that fuels long-term growth, creates jobs, and strengthens the JS-SEZ ecosystem.” The sites are strategically located near Singapore, Senai Airport, and the Port of Tanjung Pelepas, making them an ideal location for driving long-term economic growth and transforming Iskandar Puteri into a dynamic business and investment hub.

In his speech, Datuk Hisham Hamdan, chairman of UEM Sunrise, highlighted the partnership as part of a larger vision to position Johor as a dynamic and forward-thinking economy. GuocoLand CEO Cheng Hsing Yao also expressed his enthusiasm for the collaboration, stating that the Singapore-based property group “will bring along our experience in real estate development and asset management, as well as an understanding of the needs of companies from Singapore, Malaysia, and China that wish to establish a presence in the JS-SEZ.” Together, their combined expertise will enable them to shape the region through innovative developments.

Prior to this collaboration, UEM Sunrise had already played a key role in the urban development of Iskandar Puteri, with projects such as the Aspira series and Senadi Hill residential townships, as well as commercial and retail hubs. The group is also developing a 380-acre industrial park in Gerband Nusajaya. The growth in Iskandar Puteri is being driven by incentives and support schemes introduced by the governments of Malaysia and Singapore, including special tax rates, stamp duty exemptions, and capital allowances, all aimed at attracting investments for the JS-SEZ.…

Frasers Property, a Singapore-based real estate company, has recently formed a partnership with two prominent Chinese real estate firms to jointly acquire a residential site in Songjiang District, located in Shanghai, China. The JV partners successfully won the RMB815.2 million ($151.9 million) tender for the site from the Shanghai Municipal Bureau of Planning and Natural Resources.

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With its limited land availability and growing population, Singapore has become a prime location for real estate, particularly condos. The small island nation has strict land use policies, creating a competitive market where property prices are consistently on the rise. This has made investing in real estate, such as New Condo Launches, a highly profitable venture due to the potential for capital appreciation.

The other two partners in this joint venture are Xiamen ITG Real Estate Group, a wholly-owned subsidiary of ITG Holding Group – a state-owned enterprise under the Xiamen Municipal Government, and Gemdale Corporation, a Shanghai-listed company.

In an official press release on February 26, Frasers Property revealed that the project will consist of a mix of 189 low-rise apartments, townhouses, and duplex units, with a total gross floor area of 334,714 sq ft. The development is planned to cater to the needs of both upgraders and first-time homebuyers in Fangsong Community, Songjiang District. Moreover, it will be designed to incorporate features such as flood mitigation, ultra-low energy building designs, energy-saving door and window systems, reduced thermal bridging, and solar photovoltaics.

Lim Hua Tiong, CEO of Emerging Markets in Asia for Frasers Property, expressed his excitement about the joint venture, stating that it not only strengthens their presence in Shanghai but also showcases their commitment to delivering high-quality residential developments that meet the evolving needs of the Chinese community. The project’s location is also strategically chosen, as it is situated near two existing projects – Club Tree and Palace of Yunjian – that are also joint ventures between Frasers Property and Gemdale Corporation.

This recent partnership further solidifies Frasers Property’s position in the Chinese real estate market and highlights their dedication to sustainable and innovative development practices. The company has also been making headlines for their involvement in other high-profile projects, including their recent partnership with SP Group to install solar panels across their retail and commercial properties. Their sole bid for the Jurong Lake District master developer site has also drawn significant attention.…