Condo Score

Mapletree expands in UK, Spain with new EUR315.1 mil logistics assets

Mapletree Investments has announced the acquisition of its first logistics property in the UK and 10 warehouses in Spain for a total value of EUR315.1 million ($444.5 million). The purchases, which total some 256,000 sqm, will become part of the group’s second European logistics-focused fund. This move demonstrates Mapletree’s focus on the logistics sector and its global expansion strategy, according to the company’s Jan 27 release. The fund is set to be launched at an appropriate time, after reaching a sufficient scale.

CEO of Mapletree’s European commercial and logistics arm, Ralph van der Beek, explains that the logistics sector remains highly attractive and consistently receives strong demand from both occupiers and investors. He notes that e-commerce continues to thrive, and companies are actively securing and expanding their supply chains. Van der Beek adds that the group is looking forward to these assets delivering stable and recurring returns in the long run.

Investing in a condo requires careful consideration of the property’s maintenance and management. Along with the purchase price, condos often come with maintenance fees that cover the upkeep of shared areas and amenities. While these fees may increase the total cost of ownership, they also play a crucial role in maintaining the property’s value. To make the investment more passive, many investors choose to engage a property management company to handle day-to-day tasks associated with their condo. This can alleviate the burden of managing the property and ensure that it remains in top condition.

The UK property, located in Derby Commercial Park, is well-connected to major arterial roads such as the M1, A50 and A6 and is situated near the city centre and the East Midlands Airport. According to Mapletree, the tenant recently renewed its long-term lease at the asset.

The Spanish assets are located across Barcelona, Valencia and Madrid and are situated in core logistics hubs, with quick access to the city centre through various transportation modes. These assets are set to benefit from third-party logistics providers and manufacturers, which are fully committed to the properties due to their proximity to production facilities and investments dedicated to automation and fit-outs on site.

Following the acquisitions, the group now owns 80 logistics assets across eight countries.…

Set against the picturesque waterfront of Sentosa Cove is the luxurious condo, Turquoise, which comprises of 91 units. Among these, three duplex penthouses with five bedrooms are now available for sale at the price of $23 million. Standing at a whopping 7,987 square feet, this is the biggest penthouse among the 10 that are available in this 99-year leasehold development.

The extravagant penthouse boasts of a wine cellar, a kitchen and living area, four en-suite bedrooms, two utility rooms, and a balcony on the lower level. On the upper level lies the master bedroom suite, which comes with its own private infinity pool, pool deck, and outdoor shower. This unit is currently on the market for a price of $12 million, working out to $1,502 per square foot.

The second largest penthouse available at Turquoise is a four-bedroom unit measuring 3,746 square feet, and is being listed at $5.99 million ($1,599 per square foot). The upper level of this unit features a large open-air terrace with a built-in jacuzzi, providing its residents with uninterrupted views of Sandy Island and Sentosa’s southern waterfront.

The last of the three penthouses for sale is a three-bedroom unit with an area of 3,111 square feet, listed with a guide price of $5 million ($1,607 per square foot). These three penthouses are all located on the sixth floor, and come equipped with private lift lobbies, both wet and dry kitchens, floor-to-ceiling windows, open balconies, and en-suite bathrooms in each bedroom.

Turquoise offers its residents a plethora of amenities, including a gym, barbecue pits, a swimming pool, a steam room and 21 private berths for residents. Developed by Ho Bee Land, the 99-year leasehold Turquoise was completed in 2010. It boasts of 91 units spread across three 6-storey blocks, with a mix of three- and four-bedroom apartments. The three-bedroom units range from 2,088 square feet to 2,573 square feet, while the four-bedrooms range from 2,400 square feet to 3,050 square feet. As for the penthouses, they range from 3,111 square feet to 3,764 square feet, and the sky villas from 6,900 square feet to 7,987 square feet.

Another important highlight to note is that the developer still owns the biggest penthouse measuring 7,987 square feet, and is currently being offered for $12 million. According to URA caveats, the second-largest penthouse measuring 3,746 square feet was sold to a Korean national for approximately $9.5 million ($2,545 per square foot) in November 2007, during the launch of Turquoise. On the other hand, the three-bedroom duplex penthouse of 3,111 square feet was sold to an African national for just over $8 million ($2,579 per square foot) in December 2007, based on caveats lodged then.

As evident, these waterfront homes at Sentosa Cove were sought after by foreign buyers, who saw potential in owning them for investment and holiday purposes. The foreign buyers’ share was more than half (59%) of the total buyers (39 units) during the launch of Turquoise. This trend continued when the project was completed in 2010, with foreign buyers making up 58.4% of the total transactions (six units). Today, however, there has been a gradual shift in the profile of buyers at Turquoise, with more locals showing interest in owning properties at Sentosa Cove for their own use.

It is a noticeable fact that Singaporeans dominated the buyer profile at Turquoise, making up 57.4% of the total sales (39 units) since the project was completed in 2010. This is followed by Permanent Residents (22 units) that made up for 32.3%, and foreign buyers (6 units) at 8.8%. The last transaction was made by a company. Michele Cabasug, senior associate VP at List Sotheby’s International Realty, says that there has been a notable change in sentiment among buyers, with more seeking to purchase properties in Sentosa Cove for their own occupation. She further adds that some of these buyers are empty nesters, retirees, or young families with their own drivers to commute their children to school.

With a sudden surge in remote work last year, more people are now looking for properties that provide a serene and relaxing living environment. To meet their demands, Sentosa Cove presents itself as an ideal location for residential purposes. It is an added advantage that Sentosa Island is home to a variety of activities and attractions, proving to be the perfect getaway from the bustling city life.

Ho Bee Land, who were the first developers to make their mark in Sentosa Cove, have undertaken numerous projects like Turquoise, The Berth by the Cove (200 units), The Coast (249 units), Seascape (151 units), and Cape Royale (302 units) in a joint venture with IOI Properties Group, a Malaysian developer. The bungalows at Coral Island and Paradise Island, two of the four man-made islands at Sentosa Cove, were also developed by Ho Bee Land.

Understanding the regulations and limitations surrounding property ownership in Singapore is crucial for international investors. Luckily, foreigners have relatively few restrictions when it comes to purchasing condos, unlike landed properties which have stricter ownership guidelines. However, foreign buyers must keep in mind the Additional Buyer’s Stamp Duty (ABSD) of 20% for their initial property purchase. Despite this extra expense, the remarkable stability and potential for growth in the Singapore real estate market remains a magnet for foreign investment. With Singapore Projects continuously on the rise, it’s no wonder why investors are drawn to this lucrative market.

The condo saw a significant dip in prices when the Global Financial Crisis hit in 2008. However, it slowly started picking up pace, with units at Turquoise being sold at an average price of $2,471 per square foot between 2008 and 2012. However, in February 2021, prices at Turquoise hit a new low of $1,165 per square foot when a 2,400 square foot, four-bedroom unit was transacted for $2.8 million. The developer decided to release their remaining 16 units for sale in April the same year, at promotional discounts ranging from $500,000 to $750,000 per unit, and prices varying between $1,290 per square foot to $1,536 per square foot. These mainly comprised of the lower-floor units as reported by the developer.

In the past year, the average transacted price at Turquoise has been $1,427 per square foot across four resale transactions. Cabasug shared that the two foreign owners at Turquoise are now motivated to sell their properties after holding on to them for almost 18 years, to explore other investment opportunities. If sold at the listed prices, the owner of the four-bedroom penthouse would face a loss of $3.5 million (36.8% below purchase price) while the three-bedroom penthouse owner would see a deficit of $3 million (37.5% below purchase price).…

The cityscape of Singapore is renowned for its magnificent skyline adorned with towering skyscrapers and cutting-edge infrastructure. The sought-after Singapore Condos, strategically located in prime areas, offer an enticing blend of luxury and convenience that attracts both locals and foreigners alike. These residential properties boast top-of-the-line features including lavish swimming pools, state-of-the-art fitness centers, and top-notch security services, elevating the standard of living and making them a highly desirable choice for potential occupants and buyers. Real estate investors can also reap considerable benefits from these upscale amenities, as they result in higher rental returns and a significant increase in property value over time. With Singapore Condo added to the mix, these residences become an even more attractive investment opportunity.

Freehold condo The Botanic on Lloyd has set a new benchmark for private non-landed developments after achieving the highest psf-price between Jan 3 and Jan 11. The new record of $2,493 psf was made possible by the sale of a 2,056 sq ft four-bedroom unit on the second floor for $5.13 million.The latest psf-price peak has surpassed the previous record of $2,339 psf by 6.6%, which was established in October last year when a 1,496 sq ft three-bedroom unit on the fourth floor was sold for $3.5 million.The Botanic on Lloyd is a freehold condo comprising 66 units located along Lloyd Road off Oxley Road in prime District 9. Built in 2006, the development consists of a mix of three- and four-bedroom apartments sized between 1,485 sq ft and 3,584 sq ft. It also features six townhouses that range from 4,058 sq ft to 4,446 sq ft, offering five bedrooms and two private parking lots each.Another freehold development, The Cape, also made headlines during the period in review with a new record of $2,284 psf. The previous record of $2,265 psf was set by a two-bedroom unit that was sold by the developer for $3.49 million in November 2012. The latest record was set by a three-bedroom unit on the 15th floor that was sold for $3 million. The Cape is a boutique project located along Amber Road comprising 76 units, ranging from one- to three-bedrooms between 570 sq ft and 1,539 sq ft.Besides The Botanic on Lloyd and The Cape, upcoming condo Tembusu Grand also saw a new price floor being set at $2,174 psf. The previous record low of $2,193 psf was set just two months earlier in November 2024, when a three-bedroom unit on the 20th floor was similarly sold for $3.07 million. Tembusu Grand is a 99-year leasehold project located in prime District 15. It has recorded a high take-up rate of 91.5%, with 584 units sold at an average price of $2,444 psf.View listings for The Botanic On LloydCheck out condo listings in District 9Compare prices of Condo new sale vs EC new saleFind out more about upcoming new launch projectsFind out more about becoming a member of Ask BuddyzDemand for private non-landed homes in District 9 has been on the rise, with many developments hitting all-time highs in terms of psf-price. The Botanic on Lloyd, The Cape, and Tembusu Grand are just some of the latest developments to make headlines with their record-breaking prices. With strong demand and limited supplies of freehold properties in prime locations, we can expect to see more new price highs being set in the near future.…

According to data released by HDB, prices of resale HDB flats increased by 2.6% in the fourth quarter of 2024, making it the 19th consecutive quarter of price growth in the resale market. This brings the overall price increase to 9.7% for the whole of 2024. The yearly increase in prices last year was nearly double the 4.9% increase recorded in 2023.

Considering an investment in a Condo requires careful consideration of its potential rental return, which is the annual rental income compared to the purchase price expressed as a percentage. In Singapore, the rental yields for Condos can vary significantly depending on factors such as location, property maintenance, and market demand. Typically, areas with high demand for rentals, such as those near business districts or educational institutions, offer more appealing rental yields. Conducting thorough market research and seeking guidance from a reputable real estate agent are essential steps in gaining valuable insights into the rental potential of a specific Condo.

The rise in resale prices in the previous quarter was slightly lower when compared to the 2.7% increase in the third quarter. According to Mohan Sandrasegeran, head of research & data analytics at SRI, the strong price growth in 2024 can largely be attributed to the limited supply of flats reaching their Minimum Occupation Period (MOP) during the year.

Sandrasegeran added that the limited supply caused prices to be pushed up, especially for newer flats and larger flat types like five-room and executive units, which cater to growing family needs.

Among the different flat types in the HDB resale market, five-room flats registered the highest price growth in the fourth quarter of 2024. The average resale price for five-room flats jumped 2.2% to $754,097. Meanwhile, four-room flat prices increased 2.2% to $652,544 in the same quarter.

The Central Area saw the highest price increase at 25.6% in the fourth quarter, followed by Toa Payoh at 12.1%, Tampines at 6.9%, Bishan at 6.7%, and Bedok at 6.1%. HDB resale flats worth over $1 million also saw an increase in transactions, with 285 units sold in the last three months of 2024. This brings the total number of million-dollar resale transactions to 1,035 for the whole of 2024.

According to Lee Sze Teck, senior director of data analytics at Huttons Asia, over 90% of these transactions occurred in mature estates, with the Kallang/Whampoa estate recording the highest number of sales at 156 units, followed by Toa Payoh at 144 units, and Bukit Merah at 135 units.

However, the transaction volume in the resale market experienced a downturn of 21.1% in the fourth quarter, falling from 8,142 units sold in the third quarter to 6,424 units. Lee attributed this to seasonal factors such as the year-end holiday and festive season. He added that the lower interest rate environment may have also encouraged some buyers to move to the private residential market or the Executive Condominium (EC) market.

Additionally, some prospective buyers may have chosen to ballot for a flat in the latest Build-to-Order (BTO) sales exercise, which was held in October 2024. The exercise saw HDB launch a record 15 projects comprising 8,573 flats under the new location-based classification framework. This was the first time singles were also allowed to buy two-room flexi BTO flats in all locations.

Despite the fall in transaction volume in the fourth quarter, the overall resale transactions in 2024 showed an increase of 8.4% from 26,735 units sold in 2023 to 28,986 units sold. This marks the highest number of resale transactions since 2021 when 31,017 flats were sold.

Based on transaction data compiled by Huttons Asia, the top five most popular HDB towns among buyers in 2024 were Sengkang, Woodlands, Punggol, Tampines, and Yishun. These areas accounted for around 35.9% of all HDB resales in 2024.

Looking ahead, around 6,976 flats are expected to reach the end of their MOP this year, which is a 41.6% decrease from the 11,952 flats in 2024. Sandrasegeran attributed this to the relatively fewer BTO flats completed in 2020 during the Covid-19 pandemic.

However, HDB has announced plans to launch over 25,000 new flats across three BTO sales exercises in 2025, comprising 19,600 BTO flats and more than 5,500 flats under the Sale of Balance Flats (SBF) exercise. The next SBF exercise will take place concurrently with the upcoming BTO sales exercise in February, where 5,000 BTO flats in Kallang/Whampoa, Queenstown, Woodlands, and Yishun will be offered.

This will be the largest SBF exercise held since November 2020 when 5,220 units were made available. Sandrasegeran noted that 4 out of 10 of the 5,500 SBF flats that will be offered next month are already completed.

Sandrasegeran said that the large increase in public housing supply aims to address the growing demand for housing, particularly in mature estates where resale flats are highly sought after. He added that SBF flats are more appealing to home seekers who value the option of acquiring a brand-new, ready-to-move-in flat with a shorter waiting time compared to the typical BTO process.

Furthermore, about 3,800 units of the 19,600 BTO flats planned for launch in 2025 will be designated as Shorter Waiting Time (SWT) flats, offering wait times of less than three years.

Sandrasegeran projected resale prices in the HDB market for 2025 to increase by 3.5% to 5.5%, with resale transaction volume ranging between 26,000 and 27,000. However, Lee from Huttons Asia projected a more optimistic price increase of between 5% to 8% across the year.…

with new signing

Radisson Collection, a prestigious hotel brand operated by Radisson Hotel Group, has recently introduced its new seafront property in Galle, Sri Lanka. This 106-key resort, known as Radisson Collection Resort, Galle, is the brand’s first venture in the Southeast Asia and Pacific region, and the fourth property of the group in Sri Lanka.

The hotel boasts 76 luxurious guest rooms and suites, all of which offer stunning ocean views. Guests can also enjoy a range of top-notch amenities, including a beachfront pool, a kids’ club with round-the-clock nanny services, and various dining options such as Ozen, an Asian-Japanese fusion restaurant, and Catch Restaurant, a seafood dining venue. Additionally, the Taboo Beach Club, a lively entertainment area situated by the beach, offers sun loungers and daybeds with bottle service.

Located on the southwest coast of Sri Lanka, Galle is a charming city that boasts numerous attractions. These include the Galle Fort, a 17th-century fortification recognized as a UNESCO World Heritage Site. Visitors can also explore the city’s rich culture and history through its historic temples, colonial buildings, and wildlife centers, including a sea turtle hatchery.

In Singapore, the location of a real estate investment is a crucial factor to consider. Properties situated in central areas or near important amenities such as schools, shopping malls, and public transportation hubs have been known to greatly appreciate in value. Prominent areas like Orchard Road, Marina Bay, and the Central Business District (CBD) have consistently shown a rise in property values over the years. Furthermore, condos located near reputable schools and educational institutions are highly coveted by families, making them even more appealing for investment. is, without a doubt, a smart choice for those looking to invest in the Singapore real estate market, especially for those interested in condos.

In related news, Sri Lankan hotelier Teardrop Hotels has recently launched a range of luxury villa rentals in Galle. Additionally, Radisson Hotel Group has announced the achievement of a milestone 100-hotel portfolio in India, as well as the opening of a new resort in Lonavala, India. The group is also expanding its presence in China with a new signing.…

A recent development in the world of engineering consulting sees Singapore-headquartered firm Meinhardt joining forces with Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development (JOIN). In an MOU signed on January 17th, both parties have agreed to work together on digital and smart city projects in third-world Asean countries.

The main goal of the partnership is to promote innovative and sustainable urban solutions through the exchange of knowledge and resources. JOIN, a public-private fund in Japan, will use its network and expertise to support Japanese infrastructure exports, while Meinhardt will bring its expertise in integrated planning, design, and project management to the table.

According to the group, this collaboration was made possible by the Memorandum of Cooperation (MOC) signed in November between Japan’s Ministry of Land, Infrastructure, Transport and Tourism and the Singapore Cooperation Enterprise. This agreement aimed to promote the development of digital and smart cities in Asean and other regions.

Meinhardt hopes that the MOU will serve as a platform for both parties to share information, identify synergies, and work together on projects from the early stages. This will enable them to make a meaningful impact across borders. With this promising partnership, the future looks bright for the development of digital and smart cities in Asean countries.

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When purchasing a Singapore condo, it is crucial to consider the property’s maintenance and management. Along with the ownership, condos also come with maintenance fees that cover the upkeep of shared spaces and amenities. While these fees may increase the overall cost, they play a vital role in maintaining the property’s condition and value. Hiring a property management company can assist investors in managing their condos on a day-to-day basis, making it a more passive investment.…

HDB Completes Pandemic-Delayed Projects, Delivering Over 75,800 Flats in Five Years

Singapore’s Minister for National Development Desmond Lee has announced the completion of the final two housing projects from the Housing and Development Board (HDB) that were delayed due to the pandemic. In a press release on Jan 20th, Lee announced that the two Build-to-Order (BTO) projects, Punggol Point Cove (Phase 2) and Kempas Residences, are now completed, marking the end of HDB’s pandemic-delayed housing projects. The completion of these two projects brings the total number of new flats delivered to Singaporeans over the past five years to over 75,800.

The year 2024 saw the completion of 22 housing projects by HDB, 17 of which were delayed due to the pandemic. The remaining four projects were completed on time, barring one that faced delays for non-pandemic reasons. Among these 22 projects, two were Shorter Waiting Time (SWT) projects that were completed within a waiting period of less than three years. These two projects, Parc Glen at Tengah and Grove Spring at Yishun, offered a total of 1,995 flats to residents. The remaining projects had waiting periods of up to five years, but the overall result was a staggering 18,000 flats completed in 2024.

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The keys for units in Punggol Point Cove (Phase 2) have been handed over to owners since November 2024, and the keys for Kempas Residence units have been available since mid-January this year. HDB is expected to inform the remaining flat owners of their keys collection date soon, as the final blocks in both projects will be completed this month.

Punggol Point Cove (Phase 2), located along New Punggol Road, consists of six residential blocks offering a total of 1,179 units of two-room flexi, three-, four- and five-room flats. Due to the pandemic, the project’s last block was completed 12 months after its original Probable Completion Date (PCD) earlier this year. As of Jan 15, 657 households (59% of the 1,109 booked units) have collected their keys.

HDB states that the completion of Punggol Point Cove (Phase 2) marks the completion of all flats in the Punggol Point District, including the Punggol Point Cove (Phase 1), Punggol Point Woods, and Punggol Point Crown BTO projects that were completed in 2024.

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Kempas Residences is situated between Serangoon Road, Lavender Street, and Boon Kheng Road, offering a total of 583 units of two-room flexi, three-, and four-room flats across four residential blocks. The final block faced a six-month delay from its original PCD but was finally completed in mid-January. As of Jan 15, 37 households (7% of the 555 booked units) have collected their keys.

When considering investing in condos in Singapore, it is crucial to take into account the government’s property cooling measures. In an effort to control speculative buying and maintain a steady real estate market, the Singaporean government has implemented various measures over the years. One of these measures is the Additional Buyer’s Stamp Duty (ABSD), which requires foreign buyers and those purchasing multiple properties to pay higher taxes. While such measures may have a short-term impact on the profitability of condo investments, they also contribute to the market’s long-term stability, making it a secure investment environment. Therefore, investing in condos in Singapore is a wise decision.

Currently, 110 HDB housing projects are under construction, up from 95 last year, thanks to the increase in BTO supply in recent years. HDB has stated that it is on track to complete around 17,000 flats across 27 projects in 2025. To check out the latest HDB property listings, click here.…

Singapore-based City Developments Limited (CDL) has announced an offer to acquire all outstanding shares in New Zealand-listed Millennium & Copthorne Hotels New Zealand Limited (MCK) through its subsidiary CDL Hotels Holdings New Zealand Limited (CDLHH NZ). The offer price is set at NZ$2.25 ($1.72) per share.

In a filing on January 20, CDL stated that after the offer is completed, it intends to delist and privatize MCK in order to simplify the ownership structure of its New Zealand entities. Currently, MCK holds, leases, or franchises 18 hotels in New Zealand and has a majority stake in CDL Investments New Zealand Limited. It also has interests in Australian properties through its Kingsgate Group subsidiaries.

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In recent years, investing in a Singapore condo has become a highly sought-after option for both local and international investors. This is largely due to the country’s strong economy, stable political climate, and exceptional quality of life. With a thriving real estate market, there are many opportunities available, and condos stand out as a popular choice for their convenience, amenities, and potential for high returns. If you are considering investing in a Singapore condo, this article will delve into the advantages, key factors to consider, and essential steps to take. Singapore Condo is an excellent investment opportunity that should not be missed.

As of January 17, CDLHH NZ holds 80.02 million shares in MCK, representing a 75.86% stake based on 105.48 million MCK shares in issue. If CDLHH NZ reaches the threshold to trigger compulsory acquisition under the New Zealand takeovers code, it will buy out all remaining shares in MCK. Additionally, CDLHH NZ may choose to redeem the non-voting redeemable preference shares issued by MCK.

While the MCK non-voting redeemable preference shares are not included in the offer, CDLHH NZ has offered to purchase them at a price of NZ$1.70 ($1.30) per share. This purchase will be made through Craigs Investment Partners, the group’s broker, on the Main Board of the New Zealand Stock Exchange (NZX). As of January 17, CDLHH NZ holds 91.34% – or 48.17 million – of MCK’s non-voting redeemable preference shares.

If the offer is fully accepted, CDLHH NZ will pay a total consideration of NZ$57.29 million. It is also expected to pay approximately NZ$7.77 million for all redeemable preference shares. The offer price takes into account the prevailing and historical market prices, as well as the current industry and business environment in which MCK operates.

As of June 30, 2024, MCK recorded a net asset value (NAV) of NZ$532.02 million and a net tangible asset value (NTA) of the same. For MCK shares subject to the offer, the NAV and NTA are approximately NZ$85.62 million each.

The offer is conditional upon CDLHH NZ receiving at least 90% of the voting rights in MCK by 5:00pm on May 2, as well as obtaining consent under the Overseas Investment Act 2005 and the Overseas Investment Regulations 2005 of New Zealand. The implementation and payment of the offer are not expected to have a significant impact on CDL’s earnings per share or net tangible assets for the fiscal year ending December 31, 2025.…

Roxy-Pacific Holdings’ executive chairman, Teo Hong Lim, has revealed that the first day of sales for their freehold condominium, Bagnall Haus, saw a strong take-up rate of nearly 63%. Out of 113 units, 71 were sold at an average transacted price of $2,490 psf on Jan 18.

The majority of the buyers, over 90%, were Singaporeans, with end-users being the main target audience. The two- and three-bedroom units were the most popular, but there was also demand for the larger five-bedroom units.

Situated in District 16 along Upper East Coast Road, Bagnall Haus occupies a freehold site of 74,280 sq ft and consists of three five-storey blocks with a total of 113 residential units. These include one-bedroom plus flexi units of 495 sq ft and five-bedroom units of 1,528 sq ft.

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Foreign investors must be well-informed about the regulations and limitations surrounding property ownership in Singapore. Unlike landed properties, which have stricter ownership guidelines, foreigners are generally permitted to purchase condominiums with ease. However, they are required to pay the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for their initial property purchase. Despite the added expenses, Singapore’s real estate market maintains its appeal to foreign investors due to its stability and potential for growth. Additionally, the continuous launch of new condos throughout the country further entices foreign investment.

Ismail Gafoor, CEO of PropNex, has stated that of the 71 units sold, 59% were one- and two-bedroom units, which were sold for just under $2.1 million. The three-bedroom units were also in high demand, with 18 out of 20 units being snapped up at prices between $2.3 million and $2.7 million. The remaining four- and five-bedroom units were sold for around $3 million to $3.8 million.

Gafoor notes that the pricing for Bagnall Haus, which is mostly under $3 million, was very appealing to potential buyers. In addition, the average transacted price of $2,490 psf was seen as a great value for a well-located freehold development. This was further supported by the fact that some 99-year leasehold new launches in the Outside Central Region (OCR) have already reached an average price of $2,579 psf.

Apart from the 71 residential units that were sold, both strata-titled shop units located on the ground floor, measuring 172 sq ft each, were also sold for $688,000 ($4,000 psf) each.

According to Marcus Chu, CEO of ERA Singapore, the majority of the homebuyers were owner-occupiers. While some were homeowners of older landed properties looking to downsize, others were families from the neighbourhood who wished to upgrade to a freehold property.

Chu also mentioned that Bagnall Haus benefits from its close proximity to established amenities and reputable schools, such as Temasek Primary School, which is within a 1km radius.

The development is also within walking distance of the upcoming Sungei Bedok MRT Station, which serves as an interchange for the Downtown and Thomson-East Coast lines. It is only one stop away from Bedok South MRT Station, which will become part of an integrated transport hub that will feature a new bus interchange in the upcoming Bayshore precinct. This transport hub will also form a part of a mixed-use project that includes retail and residential components.

Mark Yip, CEO of Huttons Asia, has stated that pent-up demand, which has been building for 15 years due to a lack of new projects in the area, coupled with its freehold tenure, led to the strong sales for Bagnall Haus. Furthermore, it is rare to find a freehold project in close proximity to an MRT station, therefore, buyers were quick to recognize the potential benefits of the upcoming transformation of the Bayshore precinct.…

During the week of Dec 27 to Jan 3, Commonwealth Towers emerged as the leading private non-landed property to achieve a new record price per square foot (psf). The 99-year leasehold condo hit a new peak of $2,460 psf on Dec 27 with the sale of a 904 sq ft, three-bedroom unit on the 40th floor for $2.22 million.

This new record surpasses the previous high of $2,402 psf, which was set just three months ago in September 2024 when a 689 sq ft, two-bedroom unit on the 42nd floor was sold for around $1.65 million.

Condos in Singapore have emerged as a top investment choice for both local and foreign investors, thanks to the country’s strong economy, stable political climate, and exceptional standard of living. With its thriving real estate market, Singapore presents an array of promising opportunities, with condos standing out for their convenience, facilities, and potential for high returns. This piece will delve into the advantages, factors to consider, and necessary steps to take when investing in a condo in Singapore, Condo.

Commonwealth Towers saw a surge in average resale prices over the past three years. In 2022, the project had 53 transactions at an average psf of $1,971. The following year, the average price increased to $2,097 psf across 51 resale transactions. Last year, the development recorded 37 resale transactions at an average price of $2,200 psf, marking an 11.6% increase in average resale prices since 2022.

In terms of absolute price, the most expensive unit to change hands at Commonwealth Towers was a 1,302 sq ft, four-bedroom unit on the 39th floor for $2.96 million, or $2,273 psf. This transaction was recorded in November 2024.

Completed in 2017, Commonwealth Towers is a 99-year leasehold condo with approximately 87 years remaining on its tenure. It is comprised of two 43-storey residential blocks housing 845 units ranging from one to four bedrooms and spanning 441 sq ft to 1,302 sq ft.

Taking the second spot on the list is freehold project Parq Bella, which achieved a new psf-price peak of $2,416 on Dec 31. This was the developer’s sale of a 1,076 sq ft, three-bedroom unit on the fourth floor for about $2.6 million. This unit was also the first to transact for more than $2,400 psf at the development.

This surpasses the previous psf-price record of $2,385 set in August 2023 when a 926 sq ft, two-bedroom on the fourth floor was sold for around $2.2 million.

Located on Tembeling Road in District 15, Parq Bella has 20 units ranging from two to four bedrooms and floor plans spanning 926 sq ft to 1,787 sq ft. The project is expected to be completed by December 2026 and has recorded five new sale transactions last year at an average price of $2,347 psf.

Rounding up the list is freehold luxury project Klimt Cairnhill, which saw a new psf-price low during the period in review when the developer sold the final unit for $2.55 million on Jan 3. This translates to $3,077 psf for the 829 sq ft, two-bedroom unit.

Klimt Cairnhill, located on Cairnhill Road in Prime District 9, consists of 138 apartments in two- to four-bedroom configurations and has achieved 100% sales at an average price of $3,665 psf based on caveats lodged. The project was previewed in August 2021 and officially launched in January 2023.

Klimt Cairnhill is expected to obtain its Temporary Occupation Permit in April this year and boasts of a mix of two- to four-bedroom apartments ranging from 829 sq ft to 2,368 sq ft. There are also two penthouses of 4,898 sq ft and 5,920 sq ft.…