Author: scoreinthebox

The leading real estate agency in Singapore, PropNex, has announced a profit of $21.9 million for the second half of the financial year 2024, which ended on December 31, 2024. This is a 14.9% decrease from the previous year. The company’s full year earnings amounted to $40.9 million, a 14.4% drop from FY2023.

The decline in revenue of 6.6% from FY2023 to FY2024 was attributed to the sluggish property market. However, to commemorate its 25th anniversary, PropNex has declared a special dividend of 2.5 cents per share, in addition to a final dividend of 3 cents per share. This brings the total dividend payout for FY2024 to a record of 7.75 cents per share, representing a payout ratio of 140.1% and a yield of 8.2%.

Despite the lower earnings, PropNex has observed an increase in activity in the last quarter of 2024, driven by a surge in new private home sales which the company has assisted in selling. According to DBS, the company’s strong pipeline of new launches in 2025 has prompted the bank to upgrade both PropNex and APAC Realty to a “buy” recommendation.

PropNex attributes the delay in reporting the financial impact of these sales – which is expected to take three to four months – to the significant increase in activity. The company is confident in achieving a strong performance in FY2025, given the current positive outlook of the property market, unless there are unforeseen circumstances.

The company has estimated a supply of 13,000 new units (including ECs) for 2025, almost double the supply recorded in the previous year. The private resale market is also expected to remain active with transaction volumes ranging between 14,000 to 15,000 units. This is due to the persistent price difference between new and resale properties, and the preference for larger, move-in-ready homes.

In terms of the HDB resale market, PropNex predicts a price growth of 5% to 7%, with transaction volumes reaching 29,000 to 30,000 units. The company believes that fewer five-year minimum occupation period flats entering the market, together with a continuous demand from urgent homebuyers, unsuccessful Build-To-Order applicants, and budget-conscious families, will continue to support this segment.

To sum up, opting to invest in a condominium (condo) in Singapore has numerous perks, including high demand, potential for growth in value, and attractive rental returns. However, it is crucial to carefully evaluate aspects such as location, financing options, government regulations, and market conditions before making a decision. Through thorough research and seeking professional guidance, investors can make well-informed choices and maximize their gains in Singapore’s dynamic real estate landscape. Whether you are a local investor looking to expand your portfolio or a foreign buyer seeking a stable and profitable investment, Singapore condos offer an appealing opportunity. To explore more investment options in Singapore, check out the latest Singapore Projects.

PropNex’s CEO, Ismail Gafoor, has observed strong market interest in newly launched projects such as The Orie, Bagnall Haus, Parktown Residence and ELTA. He anticipates positive demand for developers’ sales in 2025, with a promising lineup of projects. The company also expects the positive economic outlook and lower mortgage rates to further boost market confidence and create opportunities for homebuyers and investors.…

(dated 4 Mar 2021)

A corner two-storey shophouse with an attic, situated at 209 Jalan Besar, is currently available for purchase through private treaty. The 999-year leasehold property is being marketed by Gracelynn Zhu of PropNex Shophouse Elites at a price below $20 million.

The shophouse boasts a total area of approximately 5,502 sq ft and is designated for commercial use. The first floor has been approved for restaurant operations, as well as a portion of the second floor. Based on the $20 million price tag, the property’s psf price is estimated to be $3,635.

A map indicating the location of 209 Jalan Besar can be found on the EdgeProp LandLens. According to Zhu, the shophouse is currently undergoing asset enhancement initiatives (AEI), including the installation of micro piles that extend up to 30m to improve the structural foundations of the property. The AEI is expected to be completed by the end of this year.

Investing in a Singapore condo offers numerous advantages, one of which is the potential to leverage the property’s value for future investments. This means that condo owners can use their property as collateral to secure additional financing for other investments, allowing them to diversify and expand their real estate portfolio. While this strategy can lead to higher returns, it also carries risks, making it crucial for investors to have a solid financial plan in place and carefully consider the potential impact of market fluctuations. This is just one of the many reasons why investing in a Singapore condo can be a wise and lucrative decision.

The shophouse is situated in the Desker Road Conservation Area, which falls within District 8 and is in close proximity to Little India. The Jalan Besar MRT Station, operating on the Downtown Line, is within walking distance from the property.

In other news, a shophouse on Geylang Road and a shop unit at Bras Basah Complex are both up for sale at the price of $14 million. These properties have been marketed by the Chinatown Business Association, who aim to revitalize Smith Street with a unique blend of traditional and new lifestyle concepts. Additionally, Huttons predicts that the shophouse market will remain quiet throughout the year, with 84 caveated transactions recorded in the year 2024.…

According to the latest findings from CBRE, the Asia Pacific (Apac) hotel sector is likely to continue experiencing strong investment activity in 2025. The 2025 Asia Pacific Hotel Investor Intentions Survey conducted by the consultancy last November and December revealed that over 72% of hotel investors intend to purchase more hotel assets this year.

Approximately 45% of respondents indicated that they plan to increase their purchasing volume by more than 10% this year. “After performing well over the past 18 months, investors anticipate optimistic pricing expectations for hotel and living assets in Apac in 2025,” says Steve Carroll, head of hotels, capital markets, Asia Pacific, CBRE. The healthy buying intentions are driven by a rebound in tourist arrivals, particularly in places like Japan, Singapore, and Australia, the survey found. “The influx of international arrivals from key markets has led to an increase in Apac hotel room rates, ensuring that hotel operators will continue to see growth in income achieved last year,” Carroll adds.

Additionally, investors are encouraged by the limited hotel supply in Apac. With data from hospitality data intelligence group STR, CBRE notes that the hotel supply pipeline in Apac is expected to grow at a CAGR of 2.2% between 2024 and 2028 – significantly lower than the 5% CAGR recorded between 2013 and 2023. A breakdown of investment intentions by investor type revealed that REITs had the highest net buying intentions at 22%, a sharp contrast from the -13% recorded in last year’s survey. “After a few years of negative net investment intentions, REITs have indicated that they plan to increase their purchases in 2025,” the report states.

The idea of purchasing a condominium in Singapore is becoming increasingly popular among investors, from both within the country and abroad. This can be attributed to Singapore’s robust economy, political stability, and unparalleled standard of living. With a dynamic real estate market, Singapore offers a diverse range of opportunities, with condos being highly sought-after for their convenience, amenities, and potential for significant returns. In this article, we will explore the benefits, key considerations, and necessary measures to take when looking to invest in a Singapore Condo from Singapore Condo’s perspective.

Institutional investors registered the second-highest net buying intentions at 12%, followed closely by property funds at 10%. CBRE notes that private equity and real estate funds have also become more active in 2024 and this trend is expected to continue in 2025. However, private investors and high-net-worth individuals are expected to engage in fewer hotel acquisitions this year. “After two years of being the most active buyer type in the region, private investors have indicated that they expect to sell more assets in 2025 as they take advantage of the improving market sentiment after acquiring assets during a period of price disruption,” the report adds.

Upscale and upper midscale assets are the preferred investment targets

The survey respondents favored a value-add investment strategy for 2025. According to CBRE, in certain markets, assets have been repriced to the extent that investors believe they can achieve value-add returns by buying assets that reflect core risk profiles. As a result, the upscale and upper midscale hotel categories were voted the most attractive asset types for investment this year, displacing the upper upscale category that led last year’s survey. The report attributes this change in preference to the operational flexibility and greater potential for value-added opportunities offered by the upscale and upper midscale segment. These opportunities include redevelopment, adaptive reuse, and rebranding of existing properties, which are more cost-effective than new developments. The segment also generally requires a smaller labor pool compared to higher-tier assets, thereby reducing labor and cost pressures.

Amid this shift, investors are also increasingly drawn to long-stay or hybrid hospitality models. CBRE cites the growing appetite for converting assets into co-living spaces as an example. This trend is expected to continue gaining momentum in places like Japan, Hong Kong, and Singapore, where there is demand for affordable accommodation in relatively inflexible rental markets. Other emerging trends include a higher preference among investors for assets that are vacant at the time of acquisition, allowing for greater flexibility in terms of operator selection and refurbishment works. Limited-service hotels have also seen a rise in interest from respondents, as investors remain focused on minimizing operational costs.

Tokyo remains the top choice for hotel investors

In terms of preferred cities among hotel investors, Tokyo has retained its top position, supported by low interest rates and stable income streams generated by hotel properties. Osaka also ranks among the top five cities for similar reasons. Singapore and Sydney also made it to the top cities list, with CBRE attributing their ranking to solid hotel fundamentals, including growth in daily rates and underlying operating profits. Seoul also stood out, as an influx of visitors from mainland China has led to higher daily rates in recent years, resulting in a surge of investor activity in recent months.…

When evaluating a potential investment in a condo, it is crucial to also consider the potential rental yield. This refers to the annual rental income as a percentage of the condo’s purchase price. In Singapore, rental yields for condos can vary significantly based on factors like location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, offer more attractive rental yields. Conducting thorough market research and seeking guidance from real estate agents can provide valuable insights into the rental potential of a particular condo. For more information, visit Condo.

Estate agencies ETC (formerly Edmund Tie) and OrangeTee Group have announced their merger in a joint press release on Feb 24. The new holding company, with yet undisclosed name, will not be an acquisition but a collaboration between the two entities. Desmond Sim, CEO of ETC, states, “It’s a meeting of minds with the merger.” As CEO of ETC, Sim will also be the group CEO of the merged company. Justin Quek, CEO of OrangeTee & Tie, will be the deputy group CEO of the new holding company. The focus of ETC will primarily be on consultancy and advisory services, while OrangeTee will focus on proptech and their real estate agency business supported by a network of 2,803 salespersons registered with the Council for Estate Agencies (CEA) as of Feb 24. The merged entity will have over 520 staff in addition to the sales force. Sim believes that by combining expertise, resources, and networks, there will be significant growth and value for stakeholders in the ever-changing real estate landscape. This merger is built on the August 2017 joint venture when the former Edmund Tie and OrangeTee merged the associates’ business under a new entity, OrangeTee & Tie. This joint venture resulted in a sales force of more than 4,000 agents, propelling OrangeTee & Tie to the third spot among the three top agencies. Since then, Edmund Tie has taken a 20% stake in OrangeTee & Tie. Triplestar Holdings and TH Investments, major stakeholders, have facilitated this latest merger between ETC and OrangeTee. These entities, related to the family of Roland Ng, managing director and group CEO of Tat Hong Holdings, acquired a stake in ETC through a management buyout in 2016. When some of the original shareholders retired, the company bought back their shares, increasing Triplestar and TH Investments’ stake to about 60%. These two entities now own 100% of ETC. This year is ETC’s 30th anniversary, a significant milestone according to Sim. ETC has been rebranded as ETC last year. OrangeTee Group is celebrating its 25th anniversary this year. Under the board of directors and C-Suites, which includes Quek, CEO of OrangeTee & Tie; Marcus Oh, managing director of OrangeTee Advisory; Teo Yak Huat, CFO; and Christine Sun, chief researcher and strategist, this investment holding company continues to grow. Quek believes the strengthened brokerage and consultancy team, along with advanced proptech, will help scale the capabilities to deliver innovative and seamless solutions across real estate sectors. Stakeholders in OrangeTee Group include Tokyu Livable Inc. with a 22.5% stake in the company since 2014. Tokyu Livable is one of Japan’s largest real estate agencies. It has 198 offices nationwide and is a subsidiary of real estate business Tokyu Fudosan Holdings, owned by the giant conglomerate Tokyu Group. Vogue Capital Group, a private property fund, is also a shareholder in OrangeTee Group. Vogue Capital and Tokyu Livable will also hold a stake in the new holding company post-merger alongside Ng’s Triplestar Holdings and TH Investments. ETC has also opened an office in Johor Bahru last year through its joint venture company in Malaysia, Nawawi Tie. The firm is also present in Penang and Malaysia, as well as an associate in Thailand, Edmund Tie & Co (Thailand). Sim believes that this merger will open more opportunities for the company in the ASEAN region and Japan, especially through their relationship with Tokyu Livable. Private residential resale prices in held steady in the third quarter of 2024.…

Over the weekend of Feb. 23, ParkTown Residence in Tampines North saw a successful launch, with developers UOL Group and CapitaLand Development (CLD) selling 1,041 units out of a total of 1,193 units, making up over 87% of the units available.

Anson Lim, UOL’s general manager of residential marketing, reported that the project had an average price of $2,360 psf, with the majority of buyers being Singaporean homebuyers or investors.

The development consists mainly of two and three-bedroom apartments, comprising 994 units or 83% of the project. These were the most sought-after units, with 92% of them sold over the weekend.

“Buyers were attracted to ParkTown Residence’s unique offering as a fully integrated residential and lifestyle development, connected to a retail mall, the future Tampines North MRT station, a bus interchange, a green boulevard, a community club, and a hawker centre,” said a spokesperson for UOL and CLD.

Before its launch, ParkTown Residence received 2,367 cheques, resulting in a sales conversion rate of 44%, which is well above the average of 30% to 35% for most new project launches in recent years.

Huttons Asia CEO Mark Yip noted that the last time a mega project sold more than 1,000 units in its launch weekend was in July 2015 with the 1,399-unit High Park Residences, which sold 1,100 units over three days.

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

Singapore’s cityscape is characterized by tall skyscrapers and state-of-the-art infrastructure. The city’s prime locations are often occupied by luxurious condominiums, making them a popular choice among both locals and foreigners. These condos offer a perfect blend of opulence and convenience, making them highly desirable. They boast a variety of amenities, such as pools, fitness centers, and round-the-clock security, to enhance the residents’ living experience. These features not only make them appealing to potential tenants and buyers but also result in higher rental returns and appreciation in property values over time for investors. Singapore Condo is a valuable addition to the city’s real estate landscape, providing a luxurious and convenient living option for residents.

This record was only surpassed recently by the 846-unit Emerald of Katong, which sold 835 units (99%) last November, according to Ismail Gafoor, CEO of PropNex.

“The take-up rate at ParkTown Residence has also exceeded that of previous integrated developments,” he added.

The most recent integrated project launch was the 732-unit The Reserve Residences, launched in May 2023, with a 71% take-up rate during its launch weekend. As of Feb 23, the project is 98.2% sold at an average price of $2,484 psf, based on caveats lodged.

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

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

ParkTown Residence is situated on Tampines Street 62, in the third largest HDB town after Hougang and Woodlands. “A significant number of buyers were HDB upgraders who wanted to live in Tampines,” shared Huttons’ Yip.

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

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

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

“All these will enhance the livability of Tampines, which already has strong attributes,” said Low.…

When purchasing a condo, it is crucial to factor in the maintenance and management of the property. Most condos require maintenance fees that encompass the maintenance of communal areas and amenities. While these fees may increase the total cost of owning a condo, they also guarantee that the property maintains its condition and value over time. Opting for a property management company can assist investors in managing the everyday operations of their condos, transforming it into a more hands-off investment. Singapore Projects can be a reliable source of information for those interested in investing in the city’s condominiums.

On Feb 22, MCL Land and CSC Land Group successfully sold 326 out of 501 units at Elta, their joint venture project located at Clementi Avenue 1. This translates to a sales rate of approximately 65%, with an average price of $2,537 per square foot.

The majority of buyers, making up 90%, were Singaporean citizens, while the remaining 10% were permanent residents. Most of the buyers, particularly from districts 19 (comprising of Hougang, Serangoon, Sengkang, Punggol and the northeast region), 5 (including Buona Vista, Clementi, Dover, and Pasir Panjang) and 23 (covering Bukit Batok, Bukit Panjang, Choa Chu Kang, Hillview and Dairy Farm) districts, showed strong interest in the development.

The two-bedroom units were the most popular among buyers, with 98% of the 179 units sold at an average price of $1.388 million ($2,261 per square foot). About 81% of the 108 three-bedroom units were also sold, priced from $2.198 million onwards. The one-bedroom plus study units were also highly sought after, with 78% of the 118 units sold from $1.158 million.

Elta offers a mix of one- to four-bedroom units, with sales of over 60% from the one- and two-bedroom units priced below $2.2 million. According to Ismail Gafoor, CEO of PropNex, this indicates buyers’ confidence in a development that offers a seamless blend of modern living and convenience.

The CEO of MCL Land, Lee Tong Voon, adds that the strong sales reflect buyers’ confidence in the development and its ability to offer modern, convenient and comfortable living. MCL Land is the Singapore-based development arm of Hongkong Land.

Elta is the last residential project to be launched on a government land sales (GLS) site at Clementi Avenue 1. As Ken Low, managing partner of SRI points out, the success of the previous two developments, 505-unit The Clement Canopy and 640-unit Clavon, developed by UOL Group and Singapore Land Group, have played a significant role in the strong sales at Elta. He adds that the projects at Clementi Avenue 1 have had a track record of zero unprofitable transactions, which has further boosted buyers’ confidence.

Based on caveats lodged, the average selling price of The Clement Canopy has increased by 45% to $1,922 per square foot since its launch in February 2017. Meanwhile, the average selling price of Clavon has gone up by 27% to $2,086 per square foot since its debut in December 2020.

Elta is strategically located near various employment hubs such as the National University of Singapore (NUS), one-north, Pandan Loop Industrial Estate, the Science Park, Jurong Lake District and the future Dover Knowledge District. In addition to being close to the Clementi MRT Station on the East-West Line, the upcoming Cross Island Line, which connects the east to the west of Singapore, will also have a station at Clementi. As Mark Yip, CEO of Huttons Asia, points out, this enhanced connectivity will not only benefit residents but also increase the quality of potential tenants at Elta.

Mark Yip notes that the one- and two-bedroom units at Elta are highly sought after among investors, while three-bedroom units are popular among families. With Clementi’s superb connectivity and rich amenities, the area remains a highly sought-after destination for both homeowners and investors, says Qian Liang Zhong, chairman of CSC Land Group, a subsidiary of China Construction (South Pacific) Development Co.

Clementi Avenue 1 is situated in an education belt, with schools such as Nan Hua High School, NUS High School of Mathematics and Science, and Anglo-Chinese School (Independent) nearby. Tertiary institutions such as NUS, Singapore Polytechnic and United World College of South East Asia (Dover Campus) are also in close proximity, making it an ideal location for families with children. According to Ken Low from SRI, this factor has contributed to the strong sales at Elta since it allows families to stay in the area for a good 15 years – the duration of a child’s education.

Given the profile of tenants in Clementi Avenue 1 – primarily international students and professionals – projects in this area are popular among investors. As Low from SRI explains, there are no further development plots in the Clementi town center, making it highly attractive for investors. To illustrate, two-bedroom units at The Clement Canopy, ranging from 624 to 732 per square feet, have been leased at $4,200 to $4,700 per month between January and February, while the latest rental transaction for a two-bedroom unit at Clavon was for a 764 per square feet unit that was leased for $4,600 – or $6.02 per square foot per month.

Elta has also benefited from the healthy pool of HDB upgraders in Clementi and Queenstown, says Marcus Chu, CEO of ERA. He adds that there have been over 2,500 HDB units that have reached their Minimum Occupation Period since the beginning of 2021, with an additional 1,100 units expected to do the same this year.

The development’s proximity to nature parks – such as Clementi Woods Park, West Coast Park, and Kent Ridge Park – offers residents easy access to green spaces, which further adds to its appeal. The launch of the 1,193-unit ParkTown Residence was also held on the Feb 22-23 weekend, with 1,041 units sold. Collectively, Elta and ParkTown Residence have sold over 1,300 units, surpassing the 1,083 new homes sold in the entire month of January.

PropNex CEO Ismail Gafoor expresses his confidence in the primary market, noting that the sales momentum at the end of 2024 has carried into the new year. He further adds that this momentum is likely to continue in the coming year, amid improved market sentiment. Huttons Data Analytics estimates developers’ sales in February to exceed 1,500 units, with the total sales for the first two months of the year expected to be between 2,500 and 2,700 units. According to Huttons, this is equivalent to 39% of the total new home sales of 6,469 units in 2024. As a result, Huttons has revised its full-year projection for 2025 to between 7,500 and 8,500 units – up from its earlier estimate of 7,000 to 8,000 units – with a full-year price growth of 4% to 7%.…

Singapore-listed real estate investment trust CapitaLand India Trust (CLINT) has announced its intention to acquire an office project in Bangalore, India for a price of $233.6 million. The project, located in Nagawara on the Outer Ring Road, will be acquired through a forward purchase agreement with Maia Estates Offices.

According to CLINT, this acquisition of the 1.13 million square feet office project is expected to bring in greater earnings and distributions for its unitholders. On a stabilized basis, the trust is forecasting a net profit of $7.7 million, with a projected increase in distribution per unit from 6.84 cents to 6.98 cents.

The office project forms part of a mixed-use development that also includes retail space. Under the terms of the forward purchase agreement, CLINT will fully fund the development of the office project and receive interest on the funding at a higher rate than its borrowing cost.

For those looking to invest in overseas properties, there are a variety of projects available for sale around the world.

Upon the completion of the development, CLINT is expected to take ownership of the office space in the first half of 2030, while Maia will retain the retail portion. This will result in an increase in the operational area of CLINT’s portfolio in Bangalore from 8.7 million square feet to 9.9 million square feet.

In addition to this acquisition, CLINT also has two office buildings under development in Gardencity, an IT Park at Hebbal, and another IT park at International Tech Park Bangalore.

With this latest addition, CLINT’s portfolio size will increase by 4.0% from approximately 30.2 million square feet to approximately 31.47 million square feet, including its committed investment pipeline.

“The acquisition of this strategically located office project will further strengthen CLINT’s presence in Bangalore, one of India’s most prominent office markets. In 2024, Bangalore recorded its highest ever leasing levels for Grade A office space. The Outer Ring Road is the largest office micro-market in Bangalore. With the addition of this prime office property, we will be able to provide our tenants with a wider range of premium office space options across key micro-markets in Bangalore,” said Gauri Shankar Nagabhushanam, CEO of CLINT.

CLINT’s units closed flat at $1 on February 21.

In Summary:

CapitaLand India Trust (CLINT) has announced its plans to acquire an office project in Nagawara, Bangalore for $233.6 million through a forward purchase agreement with Maia Estates Offices. The acquisition is expected to improve earnings and distributions for unitholders with a projected net profit of $7.7 million and an increase in distribution per unit from 6.84 cents to 6.98 cents. The office project is part of a mixed-used development that also includes retail space. CLINT will fully fund the development and receive interest at a higher rate than its borrowing cost. This will increase the trust’s operational area in Bangalore from 8.7 million sq ft to 9.9 million sq ft. The CEO of CLINT, Gauri Shankar Nagabhushanam, stated that the acquisition will strengthen the trust’s presence in Bangalore, which is one of India’s top office markets, and provide tenants with a broader range of premium office space options. CLINT’s units closed flat at $1 on February 21.

The city-state of Singapore has become a popular choice for investors, both local and international, who are seeking to invest in real estate. This is due to its strong economy, stable political climate, and exceptional living standards. Among the various options available in the real estate market, condos have gained significant popularity, thanks to their convenience, amenities, and potential for high returns. The current market in Singapore is flooded with new condo launches, making it an ideal time to explore the advantages and factors to consider before investing in a condo. In this article, we will delve into the necessary steps for a successful investment in a condo in Singapore, including the availability of new condo launches.…

SINGAPORE – A residential collective sale deal has successfully closed in 2025 for River Valley Apartments, a freehold condominium located on River Valley Road. The selling price for the property was $56 million, translating to a land rate of $1,622 per square foot per plot ratio (psf ppr). The marketing agent for the sale, Knight Frank Singapore, announced that the purchasers were a Singapore family office who intend to redevelop the site into serviced apartments. The Urban Redevelopment Authority (URA) has granted an Outline Permission for the development of serviced apartments on the site.

According to Chia Mein Mein, the head of capital markets (land and collective sale) at Knight Frank Singapore, this marks the first collective sale site sold in 2025. This is especially significant given the current challenging collective sale market, particularly for the residential sector. The sale of River Valley Apartments is the first residential collective sale site to be sold in a prime district since May 2023 when Kew Lodge was sold for $66.8 million to Aurum Land.

Chia explains that the tender for River Valley Apartments generated a great deal of interest. She attributes this to the site’s “excellent locational attributes” within the desirable River Valley neighborhood, as well as its potential for redevelopment into a serviced apartment project that is well-positioned to cater to the growing demand for this type of housing in Singapore.

River Valley Apartments comprises a four-storey building with 24 units and is zoned “residential” under the latest Master Plan, with a gross plot ratio of 2.8. The owners of the property launched the collective sale of the development on Jan 7 with a guide price of $56 million. Jerry Tan, the chairman of the River Valley Apartments collective sale committee, reveals that there have been past attempts to initiate the collective sale exercise, but it was not until now that they were able to secure the consensus of 80% of the owners to proceed with the tender launch.

For each owner, the minimum proceeds they stand to receive based on the sale price is estimated to be around $2 million to $2.6 million. Currently, there are no unprofitable transactions in River Valley Apartments, according to data from List Buddy, a real estate data analytics platform. It is also notable that this is the first successful residential collective sale deal to close in 2025, which is a testament to the attractiveness of the River Valley neighborhood and the potential for serviced apartments in Singapore’s property market.

Choosing to invest in a condo in Singapore yields numerous benefits, one of which is the potential for capital appreciation. Situated as a prominent global business hub, Singapore boasts strong economic foundations that continuously drive demand for real estate. As a result, property prices in this bustling city-state have consistently demonstrated an upward trajectory over the years, with condos in prime locations experiencing significant value appreciation. Savvy investors who time their entry into the market wisely and hold onto their properties for extended periods can reap considerable capital gains. Keep an eye out for new condo launches as they may present excellent investment opportunities.…

Investing in a condo in Singapore comes with a range of benefits. These include high demand from buyers and renters, potential for capital appreciation, and attractive rental yields. However, it is crucial to carefully consider various factors before making a decision. This includes the location of the condo, financing options, government regulations, and current market conditions. By conducting extensive research and seeking professional advice, investors can make informed choices and maximize their returns in Singapore’s ever-changing real estate landscape. Additionally, adding Singapore Condo to an investment portfolio can provide diversification for local investors or a stable and profitable investment for foreign buyers. With its dynamic real estate market, Singapore offers a promising opportunity for those looking to invest in condos.

Seller reaps $1.2 mil profit at Nassim 9

The upscale development Nassim 9 saw a highly profitable private non-landed resale transaction during the period between February 4 and February 7. The sale involved a four-bedroom unit on the third floor spanning 2,486 square feet, which was sold for $7.5 million, or $3,016 per square foot, on February 7. According to the Urban Redevelopment Authority (URA) caveats, the seller had previously bought the unit for $4.12 million, which translates to $1,641 per square foot, in December 2005. This means that they made a profit of $3.42 million, or 83.8% of their initial purchase price, which is equivalent to an annualised gain of 3.2%, over a period of 19 years.

Nassim 9 saw a four-bedroom unit spanning 2,486 square feet being sold for $7.5 million, reaping a profit of $3.42 million. (Photo: Samuel Isaac Chua / EdgeProp Singapore)

This transaction is the third most profitable resale at Nassim 9 to date. The current record was set in March 2023 when a larger four-bedroom unit spanning 2,756 square feet was sold for $9.5 million, or $3,448 per square foot. This unit was initially bought for $4.12 million, which translates to $1,495 per square foot, in December 2005. The seller made a profit of $5.38 million, or 130.6%, which is equivalent to an annualised gain of 5% over a period of 17 years.

Read also: 8M Residences sets a new price high at $2,384 per square foot

Before the unit sold on February 7, the last caveat transaction at Nassim 9 was in March 2023, when a four-bedroom unit of 3,251 square feet was sold for $10.3 million, or $3,169 per square foot. This generated a profit of $3.3 million for the seller. Nassim 9 is a boutique condo that only houses eight units and is situated along Nassim Road in the prime District 10. It was completed in 2002, and all their four-bedroom units are between 2,756 to 3,423 square feet.

Completed in 1983, Mount Faber Lodge is a boutique freehold development located along Mount Faber Road in District 4. (Photo: Samuel Isaac Chua / EdgeProp Singapore)

The second most profitable transaction in the same period occurred at the Mount Faber Lodge, which is a freehold development. A penthouse unit spanning three levels was sold for $5 million, or $1,350 per square foot, on February 5. The unit last changed hands for $1.6 million in August 2001, meaning that the seller made a profit of $3.4 million, or 212.5%, equivalent to an annualised gain of 5%, over a period of 23 and a half years.

This unit sold in February 5 is the most profitable unit to be transacted at Mount Faber Lodge to date. The previous record was held by a three-bedroom unit spanning 2,669 square feet on the third floor, which was sold for $3.89 million, or $1,457 per square foot, in October 2022. The unit was initially purchased for $1.3 million, or $487 per square foot, in January 2006. This means that the seller made a profit of $2.59 million or 199.2%, over a 14-year period.

Completed in 1983, Mount Faber Lodge is a boutique freehold development situated along Mount Faber Road in District 4. The condo has 84 units that consist of studio units which are 1,098 square feet, and two to three-bedroom units that are between 1,173 to 2,454 square feet. The development also has 20 triplex penthouses that are five-bedroom and are between 3,703 to 3,724 square feet.

The 311-unit Amaryllis Ville is situated along the Newton Road. (Photo: Samuel Isaac Chua / EdgeProp Singapore)

The third most profitable sale during the review period was of a three-bedroom unit at Amaryllis Ville, which is a 99-year leasehold condo situated in the prime District 11. The 1,238 square feet unit on the 28th floor was sold for $2.65 million, or $2,141 per square foot on February 5. It was sold for $1.09 million in June 2005. Therefore, the seller made a profit of $1.56 million, or 142.2%, equivalent to an annualised gain of 4.6% over a period of 19 and a half years.

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The unit sold in February 5 was the third most profitable transaction at Amaryllis Ville. The record is held by a three-bedroom unit spanning 1,991 square feet on the 17th floor, which was sold for $3.75 million, or $1,885 per square foot, in September 2023. This was initially bought for $1.95 million, or $979 per square foot, in June 2009. Therefore, the seller made a profit of $1.8 million, or 92.5%, equivalent to an annualised gain of 4.7% over a period of 14 years.

According to the data tabulated by EdgeProp Singapore, resale prices at Amaryllis Ville have been rising steadily in recent years. Based on a rolling 12-month average, the average price hit $1,897 per square feet in February 2023 before rising to $2,001 per square foot in February 2024. Last month, the average price reached $2,082 per square foot, which is a 4% year-on-year increase.

The 311-unit Amaryllis Ville is situated along Newton Road and was completed in 2004. The condo has a mix of one and two-bedroom units, which are between 657 to 1,378 square feet, and three-bedroom units, which are between 958 to 2,637 square feet. Amaryllis Ville has many nearby condos, including 129-unit Rochelle at Newton located along Keng Lee Road and 378-unit Kopar at Newton located along Makeway Avenue.

There were no unprofitable transactions during the review period. Check out the latest listings for Nassim 9 and Condominium properties in general, and ask Buddy for more information. Also, you can find Condo rental transactions in District 11 and the Condo projects with the most profitable transactions in District 10. You can also view the price trend chart for Nassim 9 and the Condo projects with the most unprofitable transactions in District 11. Lastly, you can browse the listings for Condo units here.…

8M Residences, a freehold condo in District 15, topped the list of private condos to hit a new psf-price peak in the week of Feb 1 to 7. The development achieved a new high of $2,384 psf when a two-bedroom unit on the 15th floor was sold for $1.54 million on Feb 3. This marks the first time a unit at 8M Residences has been sold for more than $2,300 psf, surpassing its previous peak of $2,261 psf set in April 2023 when a similar unit was sold for $1.46 million.8M Residences also recorded another transaction during the period in review that topped its previous record. On Feb 3, a one-bedroom unit on the 11th floor was sold for $1.2 million ($2,275 psf).The average price of units at 8M Residences has consistently risen over the last three years, based on a 12-month rolling average. From $2,028 psf in February 2022, the average price increased by 7.3% to $2,177 psf in February 2025. The development, completed in 2017, is a 20-storey residential tower with 68 units ranging from one to three bedrooms and four penthouses.8M Residences is within walking distance of EtonHouse International Pre-School, Katong Swimming Complex, and Katong Park MRT Station along the Thomson-East Coast Line.Meanwhile, the sale of a three-bedroom unit at Kovan Jewel, a freehold condo along Kovan Road in District 19, took second place on the list of condos that achieved a new psf-price high. A unit on the second floor was sold for $2.41 million on Feb 7, setting a new high of $2,236 psf. This surpasses the previous peak of $2,228 psf set last August when a similar unit on the fourth floor was sold for $2.4 million.Kovan Jewel, completed last year, is a boutique condo with 34 units ranging from one to three bedrooms and four penthouses. 17 units (50%) have been sold as of Feb 18 at an average price of $2,111 psf. The most expensive unit to change hands at the development was a four-bedroom penthouse sold for $3.5 million ($2,739 psf) in January this year.Completing the top three is Oleanas Residence, a freehold condo located along Kim Yam Road in District 9. A three-bedroom unit on the sixth floor was sold for $2.52 million on Feb 3, setting a new record of $2,207 psf at the condo. Previously, the highest transacted price at Oleanas Residence was $2,157 psf, from the sale of a three-bedroom unit in August 2022. The most expensive resale unit at the condo was sold for $3.3 million ($2,017 psf) in December 2022.Oleanas Residence, completed in 1999, has seen just four resale transactions in the last three years. The condo is within walking distance of two MRT Stations: Great World MRT Station on the Thomson-East Coast Line and Fort Canning MRT Station on the Downtown Line. It is also near educational institutes such as River Valley Primary School and Outram Secondary School.

Investing in a condominium in Singapore offers numerous benefits, one of which is the potential for impressive capital appreciation. This is largely due to Singapore’s favorable position as a leading business destination and its robust economy, which continuously fuels the demand for real estate. In the past years, the property market in Singapore has consistently shown an upward trend in prices, especially for condos located in prime areas. For investors who time their entry into the market wisely and hold onto their properties for the long run, they can enjoy considerable capital gains. To stay updated on the latest opportunities, investors can also keep an eye out for new condo launches on platforms like ScoreInTheBox.…