Month: March 2025

The bustling cityscape of Singapore is prominently adorned with towering skyscrapers and state-of-the-art infrastructure. Within this urban landscape, condos reign supreme and offer a perfect combination of opulence and convenience that entices both locals and foreigners alike. These lavish residential complexes are strategically situated in prime locations, further adding to their allure. With a wide array of top-notch amenities including expansive swimming pools, well-equipped fitness centers, and round-the-clock security services, condos elevate the standard of living for its residents and serve as a magnet for prospective renters and buyers. As an added bonus for investors, these luxurious features result in higher rental returns and an appreciating property value over time. Keeping up with the ever-growing demand for luxury living, interested buyers can explore the latest new condo launches and secure their dream home in this vibrant city.

RACHAEL TAN1. A unit with two bedrooms at The Esta has topped the list of private condos which have set a new psf-price high from February 21st to 28th.2. The freehold development reached a new peak price of $2,377 psf when a 1,001 sq ft unit was purchased for $2.38 million on February 26th. 3. The sellers of the seventh-floor unit originally bought it in March 2021 for around $1.83 million, equating to $1,833 psf. This means they made a profit of approximately $545,000.4. This latest transaction has exceeded the previous record price of $2,317 psf, achieved in January last year when a 1,346 sq ft three-bedroom unit on the 13th floor was sold for about $3.2 million.5. As per records, the average resale price of The Esta units has steadily increased over the past three years. In 2022, there were 10 transactions with an average psf-price of $2,012. The following year, the average price rose to $2,156 across nine resale transactions. In 2020, the average price went up to $2,248 psf as nine more units were resold, reflecting an 11.7% growth in average resale prices since 2022. 6. Interestingly, the most expensive unit sold at The Esta in terms of absolute price is a 3,477 sq ft five-bedroom apartment on the 21st floor, which was purchased for $6.25 million, equivalent to $1,798 psf, in October 2021.7. The Esta is a freehold development comprising 400 units spread across five residential blocks situated in Amber Gardens. Consisting of two- to four-bedroom apartments ranging from 1,001 sq ft to 1,711 sq ft, as well as penthouses spanning from 2,368 sq ft to 3,477 sq ft, the project was completed in 2008. In close proximity to amenities like Tanjong Katong MRT Station and lifestyle hubs such as Katong Shopping Centre and Katong V, it is located in District 15. 8. In the second spot for the condos with the highest new psf-prices recorded during the review period is the 99-year leasehold condo D’Leedon. It had set a new psf-price record of $2,287 with the sale of a 1,421 sq ft three-bedroom unit on the 29th floor for $3.25 million on February 25th.9. This surpassed the sale of a smaller 1,367 sq ft three-bedroom unit that had been sold for $3.04 million, equating to $2,222 psf, on February 26th. Prior to these sales, the record price at D’Leedon stood at $2,180 psf, achieved when a 2,110 sq ft four-bedroom unit changed hands for $4.6 million in October 2021.10. So far this year, 11 units have been sold at the development, with an average price of $2,065 psf. The lowest psf-price recorded in 2021 was for a 743 sq ft one-bedroom apartment on the 10th floor, sold for $1.41 million ($1,898 psf) on February 13th.11. D’Leedon is located in Leedon Heights, District 10 and has 1,703 units on offer spanning one to four bedrooms, spread over 592 sq ft to 6,534 sq ft. Completed in 2014, the project is close to amenities like Farrer Road MRT Station on the Circle Line, as well as Empress Road Market and Food Centre. 12. Claiming the third position for the highest new psf-prices is Citylights. On February 27th, an 893 sq ft two-bedroom apartment on the 26th floor was sold for $1.98 million, equivalent to $2,216 psf.13. This transaction has surpassed the new record set in December last year by 4.4%, when an 872 sq ft two-bedroom unit on the 16th floor was purchased for $1.85 million, equating to $2,122 psf. Notably, the sellers of the 26th-floor unit had originally bought it for about $1.44 million, or $1,610 psf, in April 2019, making a profit of approximately $542,000. 14. Completed in 2007, Citylights is a 600-unit 99-year leasehold condo located in Kallang’s Jellicoe Road, District 8. Offering unit options ranging from 560 sq ft one-bedroom units to 3,875 sq ft four-bedroom units, it is a one-minute walk away from Lavender MRT Station and nearby dining and shopping options like Aperia Mall and Kitchener Complex. 15. There were no new psf-price lows recorded during the review period.…

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When it comes to investing in a condo, having proper financing in place is crucial. Luckily, Singapore has a variety of mortgage options available. However, it is important to keep in mind the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan a borrower can take based on their income and current debt obligations. To ensure that you are making the best financial decisions, it is recommended to work with trusted financial advisors or mortgage brokers who can provide guidance on navigating the TDSR. By doing so, investors can avoid over-leveraging and make well-informed choices about their financing options. Additionally, keeping an eye on New Condo Launches can also help investors stay updated on the latest opportunities in the market.

The latest Emerging Trends in Real Estate Global Outlook for 2021, released by PwC and the Urban Land Institute (ULI) on March 12, highlights the top concerns among property investors in the Asia Pacific (APAC) region. Low yields and “sluggish” transaction volumes have emerged as the key issues facing the industry.

The report gathers insights from global asset managers, including big names like Blackstone from the US, Savills Investment Management from the UK, and CBRE Investment Management. More than 70% of survey respondents cited low yields, persistently high interest rates, and geopolitical tensions as their top concerns.

Additionally, the report notes that despite challenges, Asia Pacific continues to be an attractive diversification strategy for industry leaders due to its population growth, demographic metrics, and divergent monetary policies, such as Japan’s decision to increase short-term interest rates.

In 2020, APAC saw a 13% year-on-year increase in real estate transactions, reaching a total of US$173.5 billion ($231.3 billion). This outperformed other regions such as Europe, Middle East, and Africa (EMEA) with 12% year-on-year growth and the Americas with 11% year-on-year growth.

However, as Europe and North America prepare for a new capital markets cycle, APAC is expected to continue experiencing sluggish transaction volumes. The drop in transaction volume in APAC last year was a result of reduced liquidity. In China, transactions decreased by 25% year-on-year to US$418.3 billion ($557.6 billion), and Hong Kong SAR saw a 1% year-on-year dip to US$15.7 billion ($20.9 billion).

On the other hand, European investors have a different set of concerns. The top three prevailing worries among asset managers in the region were international political instability (85%), further escalation of the war (83%), and Europe’s economic growth (77%).

Data from MSCI, a renowned US-based research and data analytics company, shows that US commercial property prices stabilized in 2020, with a slight decline of 0.7% by the end of the year. As a result, investors may turn their focus and capital towards these regions in the coming months.

The report also reveals that data center assets are highly rated for investment and development prospects across all three regions in 2025. According to research firm Green Street, global demand for data centers reached record levels in 2020, with asking rents growing at a double-digit rate. MSCI’s latest research also predicts a standout year for the asset class in 2024, with a 60% increase in the US for existing data center acquisitions through single property and portfolio deals.

In September 2020, Blackstone and the Canada Pension Plan Investment Board (CPP) acquired data center firm AirTrunk from Macquarie Asset Management and the Public Sector Pension Investment Board for over US$16 billion ($21.3 billion). This was the largest commercial real estate deal recorded in APAC and globally in 2020.…

A 999-year leasehold conservation shophouse located at 20 Liang Seah Street has been put on the market at the price of $15 million. The exclusive marketing agent for the property, SRI Capital Market, announced that it will be sold through an expression of interest (EOI) exercise.

Situated on a 1,129 sq ft plot of land, the three-storey intermediate shophouse has a gross plot ratio of 4.2 under the latest Master Plan and is zoned for residential and commercial use. With a built-up area of 2,635 sq ft, the guide price translates to $2,635 psf.

Investing in a condominium, or condo, in Singapore has become increasingly popular among both local and foreign investors. This can be attributed to the country’s strong economy, political stability, and overall high quality of life. The real estate market in Singapore presents a wealth of opportunities, and condos are particularly attractive due to their convenience, amenities, and potential for impressive returns. In this article, we will delve into the various advantages, factors to consider, and necessary steps involved in investing in a condo in Singapore.

The first and second floors of the property have already been approved for restaurant use, while the top floor is currently leased out for residential purposes. This shophouse falls within the Beach Road secondary settlement conservation area, and any new extensions built here are allowed to be up to five storeys, subject to approvals.

According to Low Choon Sin, managing partner of SRI Capital Market, this property is an ideal option for end-users such as F&B tenants or corporate offices. The third floor, which is designated for residential use, can also be used as accommodation for some staff, making it a convenient choice for businesses. Additionally, the shophouse enjoys prominent frontage along Liang Seah Street, which experiences a high volume of vehicular traffic during the day. It is also in close proximity to the diverse range of restaurants and shops at nearby Bugis.

Low also mentions that 20 Liang Seah Street presents a great opportunity for investors to secure a property with a 999-year leasehold that can be held for the long term, taking advantage of the ongoing rejuvenation of Bugis. He highlights the completion of new landmark developments like Guoco Midtown and the upcoming Shaw Towers that will further enhance the area’s vibrancy.

The EOI exercise for the sale of 20 Liang Seah Street will close on April 10.…

Rewritten: One major advantage of investing in a condominium is the potential to leverage its value for further investments. In fact, numerous investors use their condominiums as collateral to secure additional financing for other properties, effectively expanding their real estate portfolio. While this tactic can lead to larger returns, it is important to have a solid financial plan in place and to carefully consider the potential consequences of market fluctuations. Incorporating Singapore Projects into your investment strategy can also bring added benefits.

The recent drama between the board members of City Developments has finally come to a close. Executive chairman Kwek Leng Beng has decided to drop the legal actions he had brought against a group of directors, including his own son and group CEO, Sherman Kwek.

Along with the Kweks, two newly appointed independent directors, Jennifer Duong Young and Su Yen Wong, will continue to serve on the board. In a statement released by Leng Beng on behalf of the board, it was announced that all members have agreed to put their differences aside for the benefit of CDL and its stakeholders.

The board is now committed to focusing on the growth and success of CDL, with a strong emphasis on good corporate governance. This includes completing ongoing developments in Singapore and globally, expanding the Millennium & Copthorne brands, and maximizing shareholder value through initiatives such as capital recycling.

The recent turn of events marks a positive step forward for CDL, as it moves past the conflicts within its leadership and looks towards a promising future.…

Steve Leung Design Group (SLD) is an interior design firm founded by renowned architect and designer Steve Leung. The company has recently announced its expansion into the European market, with a strategic partnership with Italian designer Andrea Bonini.

Through this collaboration, SLD will establish its first branch company in Europe under the brand SLD . Andrea Bonini. This new studio will offer a wide range of interior design services and products to clients in both Asia and Europe, catering to high-end residences and luxury hospitality projects.

The official launch of SLD . Andrea Bonini is scheduled to take place in April at Salone del Mobile, the annual furniture fair in Milan. This event will also feature the unveiling of the brand’s first collection – a smart home lighting range created in collaboration with renowned smart home manufacturer Moorgen.

This is a significant move for SLD, marking their first expansion into the international market. In a press release on March 11, the company shared that this development is part of their new business direction, focused on rejuvenation, diversification, and globalisation. They also expressed their commitment to using their 28 years of design experience and competitive advantage to improve the lifestyle of their clients around the world.

When it comes to real estate investments, location is a crucial factor to consider, especially in Singapore. Condominiums situated in central areas or near important amenities such as schools, shopping malls, and public transportation hubs are known to appreciate in value. Prime locations like Orchard Road, Marina Bay, and the Central Business District (CBD) have consistently shown an increase in property values. Families looking for a good education for their children also seek condos in these areas, making them highly desirable and further increasing their investment potential. For more information on Singapore projects, visit Singapore Projects.

The partnership with Andrea Bonini presents an exciting opportunity for SLD to showcase their expertise and broaden their reach. With their established reputation and innovative designs, SLD is set to make a strong impression in the European market, bringing their signature style and quality to a wider audience.…

When it comes to investing in real estate, one option that stands out in Singapore is condominiums. This type of property offers plenty of benefits, such as a high demand, potential for capital appreciation, and attractive rental yields. However, like any investment, it’s crucial to carefully consider various factors to ensure a successful venture. These include location, financing, government regulations, and current market conditions. By conducting thorough research and seeking professional advice, investors can make informed decisions and maximize their returns in Singapore’s dynamic real estate market. Whether you’re a local investor looking to diversify your portfolio or a foreign buyer searching for a stable and profitable investment, condos in Singapore present a compelling opportunity. To stay updated on new condo launches and make the most out of your investment, be sure to check out reputable sources such as New Condo Launches. This way, you can stay ahead of the game and make the most of the promising opportunities the Singaporean property market has to offer.

rate5h ago Property Last One Pearl Bank’s penthouse sold, development hits 100% sale rate The penthouse at CapitaLand’s One Pearl Bank development has been sold for over $15 million, making it the most expensive non-landed residential transaction in the area. First unveiled last July, the property marks the site of the former Pearl Bank Apartments. It spans two 39-storey towers that are connected by sky bridges. Located in Outram Park, the development is situated close to the Central Business District and will have some 774 units ranging from studios to penthouses.Before One Pearl Bank was launched, the record for non-landed properties in the area was held by Spottiswoode residences for a unit that sold for $2,700 psf. 5 hours ago

CapitaLand Group has recently signed an important step in their digital transformation journey, by entering into a memorandum of understanding (MoU) with Microsoft. Under this MoU, the Group will be a part of Microsoft Singapore’s AI Pinnacle Program, with an aim to enhance customer engagement and improve operational efficiency across all their businesses.

As a part of this program, CapitaLand will gain access to a wide range of Microsoft’s platforms, services, and solutions, and use them to enhance the overall experience of their stakeholders. This includes identifying potential areas of collaboration, leveraging Microsoft’s Azure cloud computing platform to develop data center designs and products for CapitaLand Investment, and the integration of AI, data analytics, and machine learning to bolster their digital and business transformation efforts.

According to Quah Ley Hoon, Group Chief Corporate Officer of CapitaLand Investment, this partnership with Microsoft is a significant step in the Group’s digital transformation journey. The use of AI will play a crucial role in shaping their future, bringing operational efficiencies and creating value for all their stakeholders.

Additionally, CapitaLand Investment has also signed an MoU with the Singapore Business Federation (SBF) to establish a framework for digitalization and integration of AI across their retail ecosystem. Some of the initiatives under this MoU include facilitating adoption and proof of concept for AI, data analytics, and cybersecurity solutions to enhance business efficiency and competitiveness, as well as developing AI-focused competency and skills among retail tenants.

In other news, the penthouse at CapitaLand’s One Pearl Bank development has been sold for over $15 million, making it the most expensive non-landed residential transaction in the area. This development, which was unveiled in July last year, is built on the site of the former Pearl Bank Apartments and consists of two 39-storey towers connected by sky bridges. Its location in Outram Park, close to the Central Business District, makes it a highly sought-after property. Before One Pearl Bank, the record for non-landed properties in the area was held by Spottiswoode Residences for a unit that sold for $2,700 psf.…

Location is a crucial aspect to consider when looking to invest in real estate in Singapore, particularly when it comes to condominiums. Prime areas like Orchard Road, Marina Bay, and the Central Business District (CBD) are highly sought-after due to their potential for rapid value appreciation over time. This can be attributed to their close proximity to essential amenities such as reputable schools, shopping centers, and public transportation hubs. The presence of esteemed educational institutions only adds to the allure of condos in these prime locations, making them an attractive and profitable investment opportunity. As you search for a real estate investment in Singapore, it is crucial to prioritize a condo in a desirable location as it can prove to be a wise and lucrative decision. Visit Condo for more information.

Legal Entities Discussed in this article:CapitaLand Group, Microsoft, and Singapore Business Federation

CapitaLand Group has recently entered into a memorandum of understanding (MoU) with Microsoft, aiming to tap into the potential of artificial intelligence (AI) and advanced technologies for its various businesses. Through this partnership, CapitaLand will join Microsoft Singapore’s AI Pinnacle Program, enabling it to make use of Microsoft’s platforms, services, and solutions to enhance customer engagement and boost operational efficiency across its funds, investments, retail, lodging, and development sectors. The collaboration will explore potential areas of collaboration, such as infrastructure development and the utilization of Microsoft’s Azure cloud computing platform to design and develop data centers for CapitaLand Investment. In addition, the two companies will work together to integrate AI, data analytics, and machine learning to drive CapitaLand’s digital and business transformation efforts.

Quah Ley Hoon, the group chief corporate officer of CapitaLand Investment, believes that this partnership with Microsoft is a significant step forward in its digital transformation journey. AI will play a crucial role in shaping the company’s future by driving operational efficiencies and creating value for stakeholders.

In a separate agreement, CapitaLand Investment (CLI), the real asset management arm of CapitaLand, has signed an MoU with the Singapore Business Federation (SBF) to establish a framework for digitalization and integration of AI across CLI’s retail ecosystem. The goal is to promote the adoption and proof of concept for AI, data analytics, and cybersecurity solutions, which will improve business efficiency and competitiveness. The partnership will also focus on developing AI-focused competency and skills among retail tenants.

Overall, this collaboration between CapitaLand and Microsoft is set to bring about a significant transformation in the way CapitaLand operates and serves its customers through the adoption of advanced technologies and AI.…

ERA Realty Network is currently marketing a unique opportunity for investors or business owners to purchase a collection of 14 retail shops in three different locations – Peninsula Plaza, Sim Lim Square, and Far East Plaza. These properties are available for sale through an expression of interest (EOI) exercise, with a total asking price of $26.46 million.

Two of the units are situated at Peninsula Plaza, a mixed-use development with a 999-year leasehold on North Bridge Road. These ground-floor shop units, which are adjacent to each other, have a combined strata area of approximately 990 sq ft. The sellers are asking for $8 million, or $8,081 psf for these units.

Peninsula Plaza is a well-known 30-storey commercial building that was completed in 1980. It boasts a six-story retail podium and a 24-story office tower. The development is conveniently connected to the City Hall MRT Interchange Station, providing easy access to both the North-South and East-West lines.

At Sim Lim Square, there are 11 strata units available for sale, with a total strata area of 5,081 sq ft. These units are all zoned for commercial use and are located on the fifth floor. They have a 99-year lease that began in April 1983, leaving approximately 57 years remaining. According to ERA, most of these units are currently occupied by tenants. The shops face the mall’s main atrium and are easily accessible from the escalators and lifts.

Interested buyers have the option to purchase these units either collectively or individually. The individual units are priced from $840,000, while the whole portfolio has an asking price of $15.855 million. ERA claims that this price is a 20% discount from the latest valuation, translating to $3,120 psf for the strata area.

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In Singapore, it is crucial for international investors to have a thorough understanding of the rules and limitations surrounding property ownership. Unlike landed properties, which have more stringent regulations, foreigners can generally purchase condos with relative ease. However, they are still subject to the Additional Buyer’s Stamp Duty (ABSD), which is currently set at 20% for their initial property acquisition. Despite this additional financial burden, the consistent stability and potential for growth in the Singapore real estate market remain highly appealing to foreign investors. To keep up with the latest property developments, New Condo Launches should be on the radar of all interested parties.

Sim Lim Square is a popular commercial development with strata-titled units, located on Rochor Canal Road in District 7. Completed in 1987, it comprises of 492 commercial units spread across six floors and two basement levels.

The last remaining unit for sale is situated at Far East Plaza on Scotts Road. This freehold retail unit, with a strata floor area of 355 sq ft, is on the second floor and is positioned near the escalator, close to the mall’s main entrance. It has an asking price of $2.6 million, or $7,324 psf.

Far East Plaza is another mixed-use development with a freehold status that was completed in 1982. It includes a five-storey retail mall and serviced apartments, and it is conveniently located within walking distance of Orchard Road MRT Station.

Donald Goh, the director of capital markets and investment sales at ERA, believes that these properties will attract interest from both property investors and business owners. He also highlights that the sales of strata retail units in the Downtown Core and Orchard Planning Area remained strong last year, with 28 and 33 deals recorded, respectively. Goh adds that a ground floor unit at Lucky Plaza was sold for $15,242 psf while units at Orchard Towers and The 101 were sold for $5,309 psf and $5,657 psf, respectively. This demonstrates that strata retail shops are still a highly attractive investment option.

The EOI for these properties will close on April 17 at 3pm. Interested buyers can check out the latest listings for Peninsula Plaza properties to learn more about this unique opportunity.…

GuocoLand, together with its joint venture partners TID and Hong Leong Holdings, has secured a green club facility worth $367.1 million from DBS Bank for the development of the Faber Walk site. This residential land parcel was obtained through a successful bid in a Government Land Sale tender last November.

Investing in a condo in Singapore offers numerous benefits, one of which is the potential for capital appreciation. Due to its advantageous location as a global business hub and solid economic foundations, Singapore consistently experiences a high demand for real estate. As a result, property prices have steadily increased over the years, particularly for condos in prime locations. By investing at the right time and holding onto their properties for a longer duration, investors can reap substantial capital gains. Condo is truly a worthwhile investment in Singapore.

The consortium, led by GuocoLand, submitted the highest bid of $349.86 million, equivalent to $900 per square foot per plot ratio, for the 277,659 square feet site. The upcoming development will consist of 399 residential units spread across nine low-rise blocks. Situated in the prestigious Faber Walk landed private residential enclave, the development is surrounded by the lush greenery of the Faber Hills estate and offers a waterfront view of the Pandan River and the upcoming Old Jurong Line Nature Trail.

The green club facility for the Faber Walk project is in line with GuocoLand’s commitment to sustainability, evident in its other developments such as Guoco Tower on Wallich Street, Guoco Midtown on Beach Road, Midtown Modern on Tan Quee Lan Street, and Lentor Mansion in Lentor Gardens.

[insert quote from Dora Chng, residential director of GuocoLand, highlighting the group’s focus on sustainable developments and biophilic designs.]

GuocoLand’s latest project is expected to achieve the prestigious BCA Green Mark Platinum (Super Low Energy) award and Maintainability badge upon completion. This adds to the company’s impressive track record in creating sustainable, eco-friendly developments for its residents, as seen in the successful launches of Lentor Modern and Lentor Mansion in the Lentor Hills estate.

The company’s next project is a joint development with Hong Leong Holdings, consisting of 941 residential units, at its Upper Thomson Road (Parcel B) site, which was awarded last April. Set to launch in the second half of the year, this project will further solidify GuocoLand’s reputation as a leader in sustainable and innovative developments.…

Developed by Far East Organization and Perennial Holdings, Aurea is a luxury residential project situated in the Core Central Region (CCR). Its sales launch on Mar 8 saw 23 units sold at an average price of $3,005 psf. This translates to a sales rate of 30% based on the 78 units released in phase one. With 188 units across 45 storeys, Aurea boasts a unique “hanging garden concept” designed by DP Architects. It is the first new private condominium to be connected to a mixed-use development that was sold en bloc and conserved, which is now known collectively as Golden Mile Singapore.A majority of the buyers are Singaporeans, making up 83% of the buyers, while the remaining 17% are permanent residents (PRs) from Malaysia. The sales rate, based on the total of 188 units, is around 12.2%. Huttons Asia CEO Mark Yip notes that CCR projects typically sell around 10% to 30% of their units during the launch weekend, as they lack the large pool of HDB upgraders that suburban projects attract. On the other hand, PropNex CEO Ismail Gafoor considers the sales rate “encouraging” given the subdued sales of CCR projects since the implementation of the additional buyer’s stamp duty (ABSD) in April 2023. In fact, developers sold the fewest new CCR private homes on record in 2024, at just 378 units – down by 74% from 1,454 units in 2023. However, Gafoor believes that the take-up in the CCR segment will improve progressively, as CCR projects typically transact units steadily over many months, rather than achieving blockbuster sales over the launch weekend. He also notes that CCR homes have a more niche market, where buyers seek a luxury home and enjoy the finer things in life.Aurea’s joint developers report that the two- and three-bedroom apartments in the Prestige Collection have accounted for 74% of the sales. These apartments are popular among buyers for their well-designed spaces, functionality, and investment potential. The four-bedroom units in the Signature Collection have also attracted buyers due to their “expansive balconies that open out to sweeping views of both the Marina Bay and Kallang Basin”. The Sky Villa Collection comprises just 18 five-bedroom apartments and two six-bedroom penthouses, making them highly sought-after among buyers. “Such large-format homes in the downtown area are hard to find,” comments Shaw Lay See, COO of Far East Organization’s sales & leasing group.Despite the narrowing price gap between private residential properties in the CCR and the RCR in recent years, private residential properties in the CCR still command a premium of around 20% across all properties regardless of tenure. SRI’s managing partner Ken Low believes that Aurea will continue to benefit from Singapore’s ongoing urban renewal efforts, with major infrastructural and lifestyle upgrades in the surrounding precincts. He notes that Aurea is situated at the doorstep of the Southern coastline redevelopment, which stretches from the Greater Southern Waterfront, Marina Bay, Kallang Basin, to the future Long Island project. With the revitalisation of Beach Road and the Ophir-Road Corridor, the Kallang Alive master plan, and the completion of the North-South Corridor, Aurea is set to benefit from enhanced accessibility, connectivity, and vibrancy in the district. As such, Low expects a rise in CCR home prices this year, driven by increased luxury project launches, and the expectation that the gap between CCR and RCR home prices will widen once again. Overall, Aurea’s unique hanging garden concept, coupled with its prime location and surging demand for luxury homes in the CCR, makes it an attractive investment opportunity for discerning buyers.

Aurea, a new luxury residential project in the Core Central Region (CCR), was launched for sale on March 8. Developed by Far East Organization and Perennial Holdings, Aurea is one of the first projects to be launched in the CCR in the first quarter of 2025. The joint developers released 78 units in phase one, which includes a mix of two- to four-bedroom apartments from levels 4 to 16. The project has a total of 188 units spread across 45 storeys.

The Singapore government has implemented several measures to regulate the property market and prevent speculative purchases, making condo investment in Singapore a significant consideration. These measures, known as property cooling measures, are aimed at maintaining a stable real estate market. One of these measures is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign purchasers and those buying multiple properties. While these measures may have an impact on the immediate profitability of condo investments, they also contribute to the long-term sustainability of the market, creating a secure investment environment. These factors make Singapore a desirable location for condo investments, with various projects available such as those listed on Singapore Projects.

The sales rate for Aurea stands at 30%, with a total of 23 units sold at an average price of $3,005 psf. According to Mark Yip, CEO of Huttons Asia, the sales rate is in line with typical CCR projects, as they generally lack the large pool of HDB upgraders that suburban projects attract. However, with 83% of the buyers being Singaporeans and the remaining 17% being permanent residents (PRs) from Malaysia, the sales rate translates to about 12.2% based on the 188 units in total.

Aurea stands out as the first new private condominium connected to a mixed-use development that was sold en bloc and conserved, now known as Golden Mile Singapore. Designed by DP Architects, the project boasts a unique “hanging garden concept”, making it a desirable option for luxury living in the CCR.

The joint venture behind Aurea reports that 74% of the sales come from the Prestige Collection, with two- and three-bedroom apartments being the top choice for buyers. These apartments offer a balance of well-designed spaces, functionality, and investment potential. The remaining 26% of the sales come from the Signature Collection, with buyers drawn to the four-bedroom units’ expansive balconies and views of Marina Bay and Kallang Basin.

The project also features the Sky Villa Collection, offering 18 five-bedroom apartments and two six-bedroom penthouses that are highly sought-after due to their rare location in the downtown area. According to Shaw Lay See, COO of Far East Organization’s sales & leasing group, buyers were captivated by the magnificent views and value of being part of the ongoing evolution of the prime Downtown Core precinct.

In recent years, the price gap between private residential properties in the CCR and the Rest of Central Region (RCR) has narrowed significantly, averaging around 40% in the last 10 years and now sitting at around 20% regardless of tenure. Ken Low, managing partner of SRI, believes that this trend will continue with Aurea, as it benefits from Singapore’s ongoing urban renewal efforts. These include major infrastructural and lifestyle upgrades in the surrounding precincts, such as the revitalisation of Beach Road and the Ophir-Road Corridor, the Kallang Alive master plan, and the completion of the North-South Corridor.

Despite the subdued sales in the CCR segment since the implementation of additional buyer’s stamp duty (ABSD) in April 2023, PropNex CEO Ismail Gafoor considers Aurea’s sales rate “encouraging”. He believes that the take-up in the CCR market will improve over time, as CCR homes tend to transact units steadily over many months, unlike some RCR and Outside Central Region (OCR) projects that achieve blockbuster sales over the launch weekend.

Overall, Aurea’s unique hanging garden concept, combined with its prime location and surging demand for luxury homes in the CCR, make it an attractive investment opportunity for discerning buyers. As the market dynamics drive a rise in CCR home prices, Aurea is expected to benefit from the ongoing transformation of the Southern coastline, which stretches from the Greater Southern Waterfront, Marina Bay, Kallang Basin, to the future Long Island project.…