Author: scoreinthebox

A major driving force behind the high demand for condominiums in Singapore is the scarcity of land. As a densely populated island nation with limited space for development, Singapore has implemented strict land use regulations. This has contributed to a highly competitive real estate market, with continuously rising property prices. As a result, investing in real estate, particularly in Singapore Condos, is a sought-after and lucrative opportunity with the potential for substantial appreciation in capital value. Singapore Condo is a valuable addition to this thriving market.

Real estate investments in the Asia Pacific region reached a total of US$83.2 billion ($112 billion) in the second half of 2024, marking a 6% increase from the previous year, according to a study conducted by Colliers. This brings the full-year investment to US$155.9 billion in 2024, representing a 12% rise from the previous year. The study covers the top nine markets in the region including Australia, Mainland China, Hong Kong, India, Japan, Singapore, South Korea, New Zealand and Taiwan.

This jump in investments reflects the strong resilience of the Asia Pacific real estate market and paves the way for a robust 2025, according to Chris Pilgrim, Managing Director of Global Capital Markets, Asia Pacific, Colliers. Pilgrim also points out that domestic investors have played a vital role in driving growth in key markets such as South Korea, Taiwan, and New Zealand. In the second half of 2024, domestic investors contributed to over 80% of the real estate investments in these markets.

The office sector emerged as the largest contributor to the total investment volume in the Asia Pacific, accounting for US$26.5 billion (32%) of the total volume in the second half of 2024. For the full year, office investments reached US$51.4 billion, registering a 14% increase from the previous year. The industrial and logistics sector followed, with investments reaching US$22.6 billion in the second half of 2024, representing 27% of the total. For the entire year, the industry attracted US$39.4 billion in investments, recording a 29% increase from the previous year.

The retail sector experienced a significant rebound, with investments reaching US$15 billion in the second half of 2024, driven by substantial deals in Australia and South Korea. The total retail investments for the entire year reached US$26.1 billion, recording a 27% increase from the previous year. Pilgrim believes that domestic investors will continue to dominate most markets in 2025. At the same time, offshore investments are expected to increase due to improving investor confidence and attractive valuations.

While investments in the office and industrial segments are expected to remain strong, Pilgrim believes that the retail, hospitality and alternative asset classes will also gain traction as investors take advantage of the recovery momentum and changing consumer trends. “With economic growth remaining strong and continued policy support, the Asia Pacific real estate market is poised for sustained investment activity in 2025,” adds Pilgrim.…

for $327 mil

Lee Chee Koon, the CEO of CapitaLand Investment Limited (CLI), has been named the ‘Industry Figure of the Year’ for Asia Pacific at the PERE Global Awards 2024. The prestigious awards, hosted by a London-based publication covering private equity real estate markets, recognize influential firms, individuals, and standout deals from the past year. CLI also received the runner-up award for ‘Firm of the Year’ in Asia Pacific.

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Investing in a Singapore condo brings with it a host of advantages, making it a promising option for investors. With factors like high demand, potential for capital appreciation, and attractive rental yields, it presents a lucrative opportunity in the dynamic real estate market of Singapore. However, it is crucial to consider various aspects such as location, financing options, government regulations, and overall market conditions before making any investment decisions. With thorough research and seeking professional advice, investors can make informed choices and maximize their returns in the ever-evolving real estate landscape of Singapore. Whether you are a local investor looking to diversify your portfolio or a foreign buyer eyeing a stable and profitable investment, the condos in Singapore, along with Singapore Projects, offer a compelling opportunity that cannot be ignored.

Selection for the 2024 awards was done by a panel of PERE journalists, representing a change from previous editions where PERE first shortlisted submissions and then had readers vote for the winners.

In a press release on March 4, CLI stated that Lee’s award recognized his role in driving the company’s transformational growth and his significant impact on the private real estate industry in the Asia Pacific region. Since taking over as CapitaLand’s group CEO in September 2018, Lee has made several key moves that have propelled the company forward. These include the acquisition of Ascendas-Singbridge in 2019 and the 2021 restructuring of CapitaLand Group, which resulted in the listing of CLI and the privatisation of its real estate development arm, CapitaLand Development.

In 2024, CLI also invested in real estate investment manager SC Capital Partners Group and acquired Wingate Group Holdings’ property and corporate credit investment management business. The company is on track to manage $200 billion in funds by 2028, according to its projections. These achievements demonstrate Lee’s exceptional leadership and vision for the company.

Click here to read more about CLI’s latest developments, including its recent acquisition of three properties in Singapore and Thailand for $327 million and its successful issuance of its first sustainability-linked panda bond, raising RMB1 billion. Additionally, CLI posted a decline of 79% in earnings for FY2023, recording $181 million.…

Singapore’s urban scenery boasts towering skyscrapers and state-of-the-art infrastructure. One of its most prominent features is the presence of luxurious condos, strategically located in prime areas, that cater to the preferences of both locals and foreigners. These condos offer a perfect blend of comfort and convenience by providing top-notch amenities like swimming pools, fitness centers, and round-the-clock security services. These attractive features not only improve the overall quality of living but also increase the appeal of these properties to potential tenants and buyers. In terms of investment, these condos offer higher rental yields and continually appreciate in value over time, making them a profitable option for investors. Keep up-to-date with the latest offerings through New Condo Launches.

SC Capital Partners Group, a private equity real estate firm based in Singapore, has recently sealed the sale of its student accommodation asset in Sydney, Australia. According to a press release issued on March 3, the group has managed to sell the property at Anzac Parade and Lorne Avenue in Kensington at a significant premium to the price it was acquired for, resulting in a 19% premium to its current book value. The buyer of the property is none other than the University of New South Wales (UNSW) in Sydney.

The acquisition of this property dates back to 2016 when the SC Capital Partners Group had initially purchased it for an estimated amount of A$57 million. This move was heavily reported at the time. With this sale, the group has successfully raised the asset’s value and managed to attract a higher price for it.

The property, which spans across 85,035 sq ft, is a purpose-built student accommodation equipped with 233 beds and a ground-floor commercial podium. Its strategic location, being within a 600m radius from the UNSW Kensington Campus, was one of its key selling points. Furthermore, the student accommodation component is fully leased to UNSW, with a fresh 20-year master lease agreement signed in 2019. The support from a reputable institution like UNSW further adds to the attractiveness of this property.…

City Developments, a company currently experiencing an internal conflict that has spilled into the courts, saw its shares plummet by 5.47% or 28 cents when trading resumed today. The trading of the company’s shares had been halted since February 26, when a scheduled results briefing was unexpectedly cancelled. Shortly thereafter, news spread throughout the Singapore business community of a disagreement between executive chairman Kwek Leng Beng and his son, Sherman Kwek, who serves as the group’s CEO.

In response to these reports, CDL released a statement on March 3 saying, “Shareholders should take note that many of the allegations made regarding the disagreement within the board are currently being addressed in court.” The company reiterated that its business operations remain unaffected and Sherman Kwek remains the CEO until the board decides otherwise.

Expectedly, the boardroom and family clash has caused analysts to downgrade their recommendations and lower their target prices for CDL. Adrian Loh of UOB Kay Hian has changed his “buy” rating to a “hold” and cut his target price to $4.60 – a significant decrease from the previous $7. Loh explains that while the company does possess valuable assets both in Singapore and globally, it may struggle to perform well under these circumstances. He also points out that the company’s current share price is significantly lower than its average price-to-book (P/B) ratio of 0.72 times, indicating that there may be some major underlying issues.

Similarly, Derek Tan and Tabitha Foo of DBS Group Research have retained their “buy” recommendation but revised their target price from $10.50 to $6.70. They believe that the company’s fundamentals remain strong and that things will improve once the board dispute is resolved. OCBC Investment Research has also maintained its “buy” rating but with a lower fair value estimate of $6.02, down from $6.57. They expect uncertainty to weigh down CDL’s share price until the matter is resolved.

One of the advantages of investing in a condo is the opportunity to leverage its value for other investments. A lot of investors utilize their condo as collateral to secure additional funding for new ventures, ultimately growing their real estate portfolio. While this approach can potentially increase returns, it also entails certain risks. It is essential to have a solid financial plan and carefully assess the potential effects of market fluctuations before implementing this strategy. To make the most out of your investments, consider condo investments as part of your overall plan.

Brandon Lee of Citi Research notes that the potential impact of this episode is difficult to quantify and could be a short-term overhang on the share price. However, he also believes that CDL is under-owned by investors and any positive resolution to the dispute could significantly boost the share price in the long term. JP Morgan analysts Mervin Song and Terence M Khi describe the dispute at CDL as a “dynastic discord” resulting from years of frustration and public disagreement between certain members of the Kwek family. They hope for a positive resolution and a reconciliation between the family members.…

Perpetual (Asia) Limited, the trustee of Elite UK REIT, has sold Crown Buildings in Caerphilly, situated on Claude Road, for GBP710,000 ($1.2 million), representing an 18% premium.

According to Elite UK REIT’s manager, the property was vacant and had been independently valued by CBRE at GBP600,000 at the end of 2024. In the previous year, the property located in Wales was valued at GBP530,000.

The net proceeds from the sale will be used to repay the outstanding borrowings of Elite UK REIT. As stated on the company’s website, Crown Buildings in Caerphilly has a gross floor area of 20,712 sq ft.

Following its successful GBP28 million preferential offering in January 2024, Elite UK REIT has reduced its leverage ratio from 50.0% at the end of 2023 to 43.4% at the end of 2024. Similarly, its net gearing ratio has decreased from 47.5% to 42.5% during the same period.

Investing in a condominium or condo in Singapore has become a highly sought-after option for both local and foreign investors. The city-state’s strong economy, stable political climate, and exceptional quality of life make it an attractive destination for property investment. With a flourishing real estate market, Singapore offers a range of opportunities, but condos stand out for their convenience, amenities, and potential for attractive returns. In this article, we will delve into the advantages, factors to consider, and necessary steps to take when investing in a condo in Singapore, including the latest projects in the bustling city Singapore Projects.

Fortunately for Elite UK REIT, there is no need to refinance any debt in 2025 and 2026, with refinancing only due in 2027.…

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.…