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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

The Oasis Lounge at Kada.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Investing in a condo in Singapore has gained immense popularity among domestic as well as international investors. This can be attributed to the country’s strong economy, unshakeable political stability, and luxurious standard of living. With the real estate market in Singapore brimming with lucrative options, condos have emerged as the top choice for many, owing to their convenience, abundance of amenities, and potential for high returns. New Condo Launches are continually adding to the charm of investing in a condo in Singapore. In this article, we will delve into the advantages, considerations, and necessary steps to take when embarking on a condo investment journey in Singapore.

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

Emerald of Katong, the newest private condominium development by Sim Lian Group, achieved strong weekend sales, with 99% of its 846 units being sold in just three days since its launch last fortnight. As of November 30, caveats for Emerald of Katong show that 825 units, or 97.5% have been sold at an average price of $2,617 psf. Out of the remaining 21 units, 13 were sold at a later date, while 8 units remain unsold. The weekend launch began on November 15, with VIP and multiple unit sales, followed by a public launch over the subsequent weekend. Over 800 expressions of interest were received for the sale of 13 units at Emerald of Katong, says Ismail Gafoor, the CEO of PropNex. The developer responded to the buyers backing out by holding a balloting session for the 13 units on the morning of Nov 30, which were subsequently taken up by the first 13 buyers. Neighbouring projects in the prime District 15, such as Tembusu Grand and Grand Duaman benefited from Emerald of Katong’s launch. Cumulative sales reached 581 units or 91% sold at Tembusu Grand, with 52 units being sold in November at an average price of $2,445 psf. Adjacent to Emerald of Katong is Grand Dunman, by SingHaiyi, where 731 units were sold (72.5%) at an average price of $2,531 psf. Emerald of Katong’s launch, with an average price of $2,617 psf has created a ripple effect on the neighbouring projects. However, the biggest beneficiary of the launch was The Continuum, developed by Hoi Hup Realty and Sunway Developments. Since November 9, 126 units were sold at The Continuum, bringing the total sales to 528 units (64.7%), at an average price of $2,788 psf. The strong uptake at The Continuum was driven by a number of factors, including availability and pricing, with a premium of just 6.53%. The highest psf prices were achieved for the 484 sq ft one-bedroom and 624 sq ft two-bedroom units on high floors, specifically from the 16th to 21st floors. At the launch, 21 such units recorded prices ranging from $2,901 psf to $2,958 psf. Meanwhile, at The Continuum, 13 caveats lodged so far show prices exceeding $3,000 psf. Of these, 11 units were sold this November, including nine two-bedroom, high-floor units ranging in size from 646 to 721 sq ft, with prices from $3,003 psf to $3,084 psf. The remaining units, of 872 sq ft, were sold at $3,003 psf and $3,060 psf. Some 22 caveats were lodged for The Continuum since its launch in November, where prices ranged from $2,667 psf to $3,003 psf for three- and four-bedroom units, which were between 1,066 sq ft to 1,270 sq ft. Also, 10 caveats were lodged for smaller units from one- to two-bedrooms, averaging between $2,620 psf and $2,697 psf. November, having already been a robust month for new home sales with 2,805 units sold, has surpassed the previous peak of 2,793 monthly private new home sales recorded in March 2013 according to Huttons Data Analytics. Mr Gafoor from PropNex states that this will have a positive impact on the take-up rate in 2025. Homebuyers who missed out on the opportunity to purchase a unit at Emerald of Katong will surely be enticed to purchase alternative units. The robust take-up in November will also translate into a positive boost for new home sales at the start of 2025.

Investing in a Singapore Condo offers an exciting opportunity for real estate investors to achieve capital appreciation. With its advantageous location as a leading global business hub and robust economic foundation, Singapore constantly attracts high demand for properties. In recent years, the real estate market in Singapore has experienced a consistent rise in prices, particularly in prime areas where condos have shown significant appreciation. By carefully timing their entry into the market and holding onto their properties for an extended period, investors can reap substantial capital gains. Singapore Condo is a promising investment option for those seeking long-term growth potential.…

In its global outlook report for 2025, released on Nov 28, Savills Research states that Asia Pacific’s real estate market has continued to outperform its global peers, with real GDP growth surpassing that of the US and Europe.

According to Paul Tostevin, Savills’ head of world research, there is more stability and conviction in the economic outlook for the first time in five years. This is expected to boost investment and activity in the market.

In the first three quarters of 2024, Apac saw a 4% year-on-year growth in investment volumes, reaching US$108.7 billion. The three markets that saw the most significant increase in investment volumes over this period were Singapore (74% growth), South Korea (71%), and Australia (63%).

Savills Research predicts that global real estate investment turnover will increase by 27% to US$952 billion in 2025, and by 2026, it is expected to surpass US$1 trillion for the first time since 2022.

Alan Cheong, executive director of research & consultancy at Savills Singapore, states that Singapore’s real estate market is expected to follow the global trend.

Furthermore, Savills predicts that Apac will experience a full recovery in real estate investment next year, driven by sectors such as tourism, living, and industrial, specifically logistics and data centres.

Simon Smith, Savills’ regional head of research & consultancy, Apac, says that the region’s long-term structural trends should also support values in growth markets like India and Southeast Asia. However, the winners and losers will depend on how global themes play out in the region and who is best positioned to take advantage of them.

The office sector remains a significant investment attraction in Apac, commanding 37% of the total regional real estate investment in the first three quarters of 2024, which is significantly higher than the global average of 23%. Singapore, China, South Korea, and Japan are the top cities in the region for office utilisation, with occupancy rates of over 90%. Apac also remains a strong market for green-certified office spaces, as office occupiers place more emphasis on environmental, social, and governance (ESG) matters.

In Singapore, tenants are increasingly prioritizing the green agenda, and there has been a slight recovery in activity levels, with more leases being concluded. CBD Grade-A space rental is expected to hold firm from 2025 to 2026. As a hub and gateway to the region, Singapore is a preferred destination for new overseas brands, and prime retail developments continue to have strong demand, keeping rental levels stable.

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When considering purchasing a condo, it is essential to carefully consider financing options. In Singapore, there are various mortgage options available, but it is crucial to understand the Total Debt Servicing Ratio (TDSR) framework. This rule determines the maximum loan amount based on a borrower’s income and current debt obligations. To make informed decisions and avoid overborrowing, investors should have a thorough understanding of the TDSR and seek guidance from financial advisors or mortgage brokers. Keeping up-to-date with new condo launches can also provide valuable insights into potential investment opportunities. For more information on new condo launches, visit scoreinthebox.com.

In the industrial sector, the demand remains robust in key sectors like logistics, advanced manufacturing, healthcare, and data centres, which is expected to stabilize rental rates and capital values in the long term. Cheong also adds that the increasing adoption of AI is leading to more data centres being built in Singapore, and more data centre service providers are using the city-state as a base to search for sites to build the infrastructure.

Lastly, Tostevin emphasizes that as global investment and activity return to more sustained growth, the real estate industry must adapt to evolving legislative landscapes and geopolitical dynamics while ensuring sustainable and socially responsible development to meet the changing world’s needs. In 2025, Apac is poised to continue being a top investment destination for family offices globally, according to UBS’s report.…

Singapore is a sought-after location for condo investments due in large part to the limited land availability. As a small island nation with a rapidly increasing population, Singapore is faced with a scarcity of land for development. In order to manage this issue, strict land use policies have been implemented, resulting in a highly competitive real estate market and consistently rising property prices. As a result, investing in real estate, especially condos, has become a profitable opportunity with the potential for significant capital appreciation. With the Singapore Condo market continuously on the rise, it is no wonder that it remains a top choice for investors.

Hill House, a boutique development in prime District 9, has taken the top spot as the condo with the highest recorded psf price between November 10 to 21. In a record-breaking deal, a 452 sq ft, two-bedroom unit on the fifth floor was sold for $1.48 million, setting the new record of $3,267 psf. This is a slight increase of 0.1% compared to the previous record of $3,263 psf set in November 2023.

In second place is The Continuum, a freehold development in District 15, which achieved a new high of $3,084 psf from the sale of a 721 sq ft, two-bedroom unit on the 17th floor for $2.22 million on November 16. The new record is only 0.4% higher than the previous high of $3,071 psf, set just a day before on November 15.

On the other end of the spectrum, Lavender Residence, a freehold boutique development in Boon Keng, District 12, saw a new low of $1,626 psf from the sale of a 990 sq ft, one-bedroom + studio unit for $1.61 million on November 17. This is a decrease compared to the previous low of $1,710 psf, set in June 2023. However, Lavender Residence has been fully sold at an average price of $1,984 psf.

Hill House, located on Institution Hill off River Valley Road, is a 999-year leasehold development with 72 units. The development, which is still under construction and slated to be completed in 3Q2026, has seen 11 transactions this year at an average price of $3,098 psf. This is 0.9% lower than the average price of $3,127 psf from five transactions last year.

The Continuum, located on Thiam Siew Avenue off Haig Road and Tanjong Katong Road, is a freehold condo with 816 units. Since its launch in May 2023, 489 units (59.8%) have been sold at an average price of $2,779 psf. The condo is under construction and expected to be completed in 2026.

Lavender Residence, a 17-unit boutique development built in the 1940s art-deco style, is fully sold with an average price of $1,984 psf. Its units range from 463 sq ft to 1,550 sq ft, and it is within walking distance of Bendemeer MRT Station.…

The government has recently announced that in 2025, owner-occupied HDB flats will receive a one-time property tax rebate of 20%, while owner-occupied private residential properties will receive a 15% rebate. However, for private residential property owners, the maximum rebate will be capped at $1,000.

Property tax is calculated based on a property’s annual value, which is the approximate rent it can fetch in a year if it were to be rented out. This rebate was introduced on November 29th by the government, in preparation for the upcoming increase in annual value bands for owner-occupied residential property tax rates on January 1st, which is part of Budget 2024.

As a result of these changes, the government asserts that a majority of owner-occupiers in HDB flats and more than 90% of private residential properties will see a decrease in property taxes next year. The government’s stated goal is to alleviate concerns about the cost of living among Singaporeans.

According to Lee Sze Teck, senior director of data analytics at Huttons Asia, the annual value of private properties is expected to remain stagnant this year due to minimal growth in private residential rents. However, he predicts that HDB rents may see a 4% increase, resulting in a rise in the annual value of HDB flats.

Lee suggests that this one-time property tax rebate may help HDB owners offset any potential impact from the increase in annual value. For instance, if a HDB flat has an annual value of $30,000, the property tax payable in 2025 would be $720. With the rebate, the owner would only have to pay $576, saving $144.

Private residential property owners may also benefit from the rebate. For example, if a property’s annual value is $85,000, the property tax payable in 2025 would be $5,760. With a 15% rebate, capped at $1,000, the owner would only have to pay $4,896, saving $864.

When purchasing a condominium, it is crucial to factor in the maintenance and management of the property. Condos usually come with a maintenance fee, which covers the maintenance of shared spaces and amenities. Although these fees may increase the overall cost of owning a condo, they also guarantee that the property maintains its quality and value. To make the investment more hands-off, investors can enlist the services of a property management company to handle the daily management tasks of their condos. Adding to the appeal, Singapore Projects can offer attractive options for those looking to invest in the city’s condominium market.

Lee notes that property tax rebates have been offered in the past and do not diminish the attractiveness of investing in residential properties in Singapore. The primary appeal of investing in these properties lies in their potential for capital appreciation, which far outweighs any increase in property tax.

In conclusion, the revised property tax rates in Budget 2024 will benefit owner-occupied properties with lower annual values. This one-time rebate serves as a timely relief for property owners, helping to alleviate concerns about the cost of living in Singapore.…

Assessing the potential rental yield is crucial when considering a condominium investment. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, condos can have varying rental yields depending on factors such as location, property condition, and market demand. Locations near business districts or educational institutions, for instance, often offer better rental yields due to high demand. It is wise to conduct thorough market research and seek the advice of real estate agents to gain valuable insights into the rental potential of a specific condo investment. For more information on condos, visit Condo.

Singaporean entrepreneur Jason Ng has built his property investment and training firm Aurico Global from scratch in just two years, reaching a remarkable $52 million in assets under management.

Aurico, where Ng serves as CEO and executive chairman, is not his first foray into real estate development. His journey in property investment began back in 1993 when he felt a strong sense of responsibility to provide for his family. Growing up with six family members in a rental flat along Dakota Crescent, including his parents, grandmother, and three older sisters, Ng was motivated to work hard and secure a well-paying job that would give him enough capital for his first property investment – a 1,400 sq ft three-bedroom apartment for $435,000. Ng reflects on this investment, stating that it would be difficult to find a similar-sized unit for the same price today.

Through diligence and determination, Ng quickly learned the ins and outs of property investment and management and expanded his real estate portfolio. He also ventured into student enrichment and parenting training, becoming accredited as a family life educator and working with the Ministry of Education and Ministry of Social and Family Development for over 15 years.

In January 2023, Ng co-founded Aurico with his wife, Emelyn Ho, consolidating his diverse portfolio of businesses including Aurico’s co-living investment and management arm JC Global Developments, property and investment training arm Anchor of Life Training Consultants, and My Preschool Hub – a provider of preschool enrichment resources and programmes.

Aurico’s portfolio covers a wide range of properties, from residential (co-living) to commercial and industrial assets. Under JC Global Developments, the company manages 380 co-living units in shophouses, condos, and landed properties, valued at over $30 million. Patrick Loke, a shareholder in Aurico, says that the company is in the process of acquiring more properties and aims to nearly double their current portfolio to 600 units by the end of the year.

The key to Aurico’s success is acquiring strategic and high-quality properties in high traffic areas below their valuation. One example is the purchase of a two-storey shophouse on 321 Joo Chiat Road for $5.1 million in September, which was 12% below the valuation price of $5.8 million. Ng’s sharp property investment acumen and the firm’s strong property investment team are credited for this success. Ng emphasizes that every property purchased by Aurico must be bought at below market valuation, ensuring profit even before the asset is acquired.

Aurico also looks for commercial properties in areas experiencing rapid transformation, such as the 99-year leasehold mixed-use development Woods Square in Woodlands. In July, the company bought a 560 sq ft commercial strata office unit in Woods Square for their own use. Ng explains that this investment allows Aurico to be at the forefront of changes in Woodlands and also boosts operational efficiency by providing easy access to workers from across the border.

To tap into the growing demand for food production due to the government’s “30 by 30” goal to produce 30% of the country’s nutritional needs by 2030, Aurico has acquired food factory assets. Ng explains that while the company has no plans to enter the F&B business directly, they see the purchase of food factories as a strategic investment to enhance their portfolio. One of these properties is a strata-titled food facility called Food Xchange @ Admiralty, strategically located within the established food cluster on Admiralty Road West and boasting a long lease balance of 36 years. Ng notes that this property, close to Johor, offers a competitive advantage for food manufacturing businesses and a strong source of manpower.

In May, Aurico acquired a 29.8% controlling stake in Autagco Ltd, a company listed on the Singapore Exchange, and appointed Loke as the executive director. As Autagco’s board of directors announced their strategic review to potentially diversify into property investment, co-living property management, education, and other businesses, Aurico made plans to inject their assets into the company. On October 15, Autagco announced its board of directors’ decision to expand its core business to include residential assisted living. The assisted living projects will be run and managed by Communa Gold, a wholly-owned subsidiary of Autagco Ltd focused on assisted living projects.

With an ageing population, Ng believes that assisted living is a viable sector for Aurico to be in, and the company is currently looking for a suitable property to be developed into an assisted living facility for seniors.

In addition to their various property investments, Aurico has also earned a reputation for providing comprehensive and high-quality property investment education to aspiring investors. Ng’s dedication to this is based on his belief that investment education is essential but inaccessible to many. Through his courses, Ng aims to make residential and commercial property investment accessible to anyone, regardless of their investment experience and background. Aurico’s curriculum and hands-on support are invaluable for beginner investors, and Ng particularly wants to help millennials and Gen Z investors who often believe investing in property is out of reach for them. With Aurico’s guidance, anyone can start their investment journey and achieve their financial goals through real estate.…

Maple Woods condo unit, a freehold property located in prime District 10, has recorded the most profitable resale transaction during the week of November 12 to 19. The 1,539 sq ft unit on the first floor was sold for $3.3 million ($2,144 psf) on November 15. The seller had purchased the unit in April 2009 for $1.28 million ($830 psf), making a profit of $2.02 million. This translates to a capital gain of 158% or an annualized profit of 10.6% over a holding period of about 15½ years.

Maple Woods is a popular condo development with 697 units ranging from two to four bedrooms and sizes from 850 sq ft to 3,003 sq ft. It is situated along Bukit Timah Road and is a short walk from King Albert Park MRT Station. It is also near renowned schools like Methodist Girls’ School and the Rail Corridor.

In total, there have been 10 other resale transactions at Maple Woods this year, all of which were profitable deals. Three units were sold for over $2 million in profits. The first was a 1,787 sq ft, three-bedroom unit on the eighth floor that was sold for $3.75 million ($2,099 psf), giving the seller a profit of $2.15 million. They had bought the unit in July 1997 for $1.6 million ($895 psf).

The second unit was a 1,787 sq ft, three-bedroom unit that was sold for $3.82 million ($2,138 psf) on September 10. The seller, who had purchased the unit in March 2007 for $1.35 million ($756 psf), made a profit of $2.47 million. The third deal also took place on September 10, where a 3,003 sq ft, four-bedroom unit on the eighth floor was sold for $5 million ($1,665 psf). The seller, who bought the unit in September 1998 for $2.4 million ($798 psf), made a profit of $2.6 million.

UE Square, a mixed-use development located in District 9, recorded the second most profitable condo resale deal during the week. A three-bedroom unit measuring 1,528 sq ft on the seventh floor was sold for $2.95 million ($1,930 psf) on November 14. The seller had acquired the unit through a sub-sale in December 1997 for $1.3 million ($850 psf), resulting in a profit of $1.65 million (127%) after owning the unit for nearly 27 years.

UE Square has 345 residences consisting of one- to five-bedders and penthouses, ranging from 506 sq ft to 2,379 sq ft. It is close to the Fort Canning MRT Station and commercial establishments along Clemenceau Avenue.

On the other hand, the most unprofitable condo resale deal during the week was the sale of a three-bedroom unit at Tomlinson Heights for $8.25 million ($3,006 psf) on November 19. The seller had purchased the unit from the developer in February 2011 for $8.85 million ($3,225 psf), incurring a loss of about $601,000 (6.8%) after owning the unit for almost 14 years.

Tomlinson Heights is a luxury condo development with 70 units, located off Orchard Boulevard. Completed in 2014, it boasts a mix of three- and five-bedroom units ranging from 2,551 sq ft to 6,738 sq ft. The unit sold on November 19 is the first resale transaction at Tomlinson Heights since January 5, 2023, when another 2,745 sq ft unit was sold for $10.5 million ($3,825 psf). The seller, who had bought the unit from the developer in May 2011 for $8.38 million ($3,053 psf), made a profit of $2.12 million.

Rewritten: Singapore’s cityscape is defined by towering skyscrapers and contemporary infrastructure. Condominiums, situated in desirable locations, offer a harmonious combination of extravagance and accessibility, appealing to both locals and foreigners. These residences boast an array of facilities, including pools, fitness centers, and security services, elevating the standard of living and making them an alluring choice for potential renters and buyers. For investors, these attractive features result in greater returns on rental income and appreciation of property values in the long run. With the addition of Singapore Condo, these properties become even more appealing.…