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Casa Fidelio, a landed development located on Fidelio Street in District 15, will be put up for collective sale by tender on March 20. The marketing agent, PropNex Realty, has stated that the reserve price for the development is $24 million, which works out to a land rate of $1,388 psf. This is the first attempt by the owners of Casa Fidelio to launch an en bloc sale.

Built in 1990, Casa Fidelio is a strata-titled landed development consisting of seven cluster terrace houses. It sits on a land area of about 17,293 sq ft, which is zoned for residential use and designated for two-storey mixed-landed housing.

The development is located in a landed housing enclave, just a short drive away from various amenities such as East Coast Park, dining and lifestyle options at the Katong and Joo Chiat precincts, and shopping malls like Siglap Village, Siglap Centre and Bedok Mall.

More amenities are also expected to be available with the completion of Kembangan Wave, an integrated public housing project next to Kembangan MRT Station. This project will include a community club with an eating house, supermarket and outpatient healthcare facility.

The surrounding schools include Opera Estate Primary School, St Stephen’s School and Victoria School.

According to PropNex, the site could potentially be redeveloped into luxurious cluster houses, landed terraces, or a sizeable standalone property. “The regular shape and ample size of the site offer developers the flexibility to design a project that serves both functional and aesthetic purposes. It is well-positioned for a transformation into a modern residential development that caters to the demand for landed homes in the East Coast area,” said Laurence Wong, the head of collective sales at PropNex.

Based on the caveats lodged, the most recent transaction at Casa Fidelio was in September 2021, when a unit with a land area of 1,894 sq ft was sold for $2.27 million ($1,198 psf). PropNex also pointed out that in 2024, only two freehold landed homes on Fidelio Street were sold: A terrace house which occupied a land area of 3,423 sq ft, was transacted at $9 million ($2,629 psf on the land area), and a semi-detached house on 2,035 sq ft of land was sold for $5.38 million ($2,643 psf on the land area). “Notably, less than 400m away, a recently-built corner terrace on Jalan Bangsawan, off Swan Lake Avenue, was transacted at $3,541 psf in December 2024,” the agency added.

The tender for Casa Fidelio will close on April 22 at 3pm. To find out more, check out the latest listings for Casa Fidelio properties on AskBuddy.

It is essential for international investors to have a thorough understanding of the rules and limitations surrounding property ownership in Singapore. Unlike landed properties, purchasing a condo allows for greater flexibility for non-Singaporeans. However, it should be noted that foreign buyers are still subject to a 20% Additional Buyer’s Stamp Duty (ABSD) when buying their first . Despite this additional expense, the reliable and profitable nature of the Singapore real estate market continues to entice foreign buyers to invest in . With the growing demand for condos, it is no surprise that the market remains attractive to global investors.…

A joint venture between SingHaiyi Group and Haiyi Holdings submitted the top bid of $658.89 million for the first private housing GLS site in the Bayshore precinct, indicating strong confidence in the site’s potential. Located next to the Bayshore MRT Station, the 99-year leasehold site spans 112,992 sq ft and can hold up to 515 units.SingHaiyi’s bid of $1,388 psf per plot ratio (ppr) was just slightly higher than the second-highest bid of $653.53 million ($1,377 psf ppr) from Sing Holdings, with City Developments placing third with a bid of $620.8 million ($1,308 psf ppr).CEO of OrangeTee & Tie, Justin Quek, commented that the bid prices exceeded initial expectations, which may indicate strong confidence in the site’s potential. Meanwhile, CEO of Huttons Asia, Mark Yip, believes that the record number of bids received for the site is due to the recent strong sales momentum in the primary market, as well as the need for developers to replenish their land bank.Elsewhere, a consortium comprising Frasers Property, Kingsford Development, and a joint venture between Hoi Hup Realty and Sunway Developments also submitted bids for the site, with bid prices ranging from $1,252 psf ppr to $1,285 psf ppr. The two lowest bids came in at $500.68 million ($1,055 psf ppr) from a consortium of Hong Leong Holdings, TID, and CSC Land Group, followed by $485 million ($1,022 psf ppr) from Sin Lian Group.According to CEO of ERA Singapore, Marcus Chu, the considerable gap of 36% between the lowest and highest bids is reflective of mixed market sentiments amongst participants. Moreover, SingHaiyi’s successful bid sets a new benchmark for land prices in the Outside Central Region (OCR), surpassing the previous record of $1,250 psf ppr paid for the site of the recently-launched Elta, located at Clementi Avenue 1. Overall, the high prices paid for the Bayshore Road site reflect the strong demand for new private housing in the area, with the promise of a sea view and doorstep access to Bayshore MRT Station being key selling points.Location also seems to be a significant factor in the demand and value of the site, with the Bayshore precinct being a highly sought-after area due to upcoming amenities and long-term development plans. The 60-ha estate between East Coast Parkway and Upper East Coast Road is slated to include some 10,000 homes, with approximately 30% designated for private housing.This marks the first private residential development in the Bayshore precinct in decades, making it a highly attractive prospect for potential investors. In addition, the lack of significant private condo launches in the area has created pent-up demand, particularly among HDB upgraders in the nearby Marine Parade and Bedok estates. Analysts predict that the upcoming project could see an average selling price of $2,600 psf to $2,800 psf, with prices for the project potentially starting from $2,700 psf.

When purchasing a condominium, it is crucial to factor in the maintenance and management of the property. Condos generally have maintenance fees that encompass the maintenance of shared spaces and amenities. These fees may increase the overall cost of owning a condo, but they also guarantee that the property stays in good shape and maintains its value. To make condo investment more effortless, investors can hire a property management company to take care of the daily operations. In Singapore, there are various projects available for investment, such as those listed on Singapore Projects.…

Banyan Group, a well-known hospitality firm formerly known as Banyan Tree Holdings, has recently unveiled their latest residential project, Banyan Tree Beach Residences Oceanus, in Phuket, Thailand. Strategically located on Bang Tao Beach, the development is nestled within the exclusive enclave of Banyan Group’s flagship resort, Laguna Phuket. The project boasts 16 beachfront residences, ranging from 416 sq m to 768 sq m for the penthouses.

Ground-floor residences will feature private pools that extend out from their terraces, while the penthouses will offer stunning views of the Andaman Sea from their spacious living area balconies and rooftop terraces, complete with private pools and reflecting ponds. The residences also feature expansive living areas, double master bedrooms, and luxurious bathrooms. Additionally, the development offers a dedicated lap pool with a sun deck, as well as an open lawn with loungers and an outdoor dining area, exclusively for the residents.

In addition to the top-notch amenities, residents of Banyan Tree Beach Residences Oceanus will have access to the integrated resort’s community facilities, including membership at Laguna Golf Phuket and a complimentary Thailand Elite visa, providing a five-year multiple-entry privilege. They will also have exclusive access to a private beach club, premium health and wellness facilities from BDMS Wellness, and signature restaurants, spas, and recreational facilities.

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When it comes to investing in Singapore’s real estate market, it is crucial for international investors to have a thorough understanding of the regulations and limitations surrounding property ownership. Condos tend to have fewer restrictions for foreign buyers compared to landed properties, making them a favorable choice for those looking to purchase properties in Singapore. However, foreign buyers should keep in mind that they will be required to pay a 20% Additional Buyer’s Stamp Duty (ABSD) for their first purchase. Despite this extra cost, the Singapore real estate market, particularly in the condo sector, remains an extremely attractive option for foreign investment. Condos are a highly sought-after and promising investment in Singapore’s real estate industry.

With the rising demand for luxury real estate in Phuket, the Banyan Group expects record prices for these residences. Stuart Reading, managing director of Banyan Group Residences, explains, “As prime beachfront land becomes scarce for standalone villas, we saw an opportunity to develop larger, ultra-luxurious beachfront condominiums that offer the same amount of living space as a villa but with the added convenience of turnkey living.” This means that residents won’t have to worry about managing their own grounds, making it an attractive option for those seeking a hassle-free lifestyle.…

The strong momentum in new private home sales continued in February, driven by the launch of new projects. According to the Urban Redevelopment Authority (URA) data released on March 17, developers sold a total of 1,575 units, excluding executive condos (ECs), last month. This marked a 45.4% increase from the 1,083 units sold in January.

Compared to the same period last year, February’s new home sales were over 10 times higher than the 153 units sold in February 2024. It is also the highest February sales figure in 13 years, since 2,417 units were sold in February 2012, according to Tricia Song, CBRE’s head of research for Singapore and Southeast Asia. Including ECs, the total number of new home sales in February was 1,604 units, a 45.3% increase from January.

Developers have already sold a total of 2,658 units (excluding ECs) since the start of the year. In comparison, it took them eight months to reach a similar figure last year, says Leonard Tay, head of research at Knight Frank Singapore.

Investing in a condo brings numerous perks, with one significant advantage being the potential to leverage its value for future investments. In fact, numerous investors utilize their condos as collateral to secure additional financing for fresh investments, thereby diversifying their real estate portfolio. This approach may enhance returns, but it also carries risks. Thus, it’s crucial to have a solid financial plan in place and carefully contemplate the potential repercussions of market fluctuations. Additionally, staying updated on new condo launches can provide even more opportunities for condo investment and growth.

The strong performance in February was mainly driven by two major launches in the Outside Central Region (OCR): The 1,193-unit ParkTown Residence in Tampines North and the 501-unit Elta on Clementi Avenue 1. ParkTown Residence sold 1,041 units at a median price of $2,363 psf, making it the best-selling project for the month. This translates to an 87% take-up rate at the integrated project, which is jointly developed by UOL Group and CapitaLand Development.

Elta was the second best-performing project, with 65.1% or 326 units sold by developers MCL Land and CSC Land Group at a median price of $2,538 psf. CBRE’s Song points out that both ParkTown Residence and Elta are located in suburban neighbourhoods which have not seen new supply in at least the past five years, contributing to the projects’ robust performances.

Including these two projects, developers launched a total of 1,694 units for sale in February, a significant increase of 89% from the 896 units launched the month before. In addition, the OCR accounted for a staggering 92% of total new private homes sold in February, with 1,452 units sold. This reflects the best monthly showing for the OCR in over nine years, since 1,523 units were sold in July 2015, according to Wong Siew Ying, PropNex Realty’s head of research and content.

Sales in the Rest of Central Region (RCR) made up 98 or 6.2% of units sold in February. The top-selling RCR project was Pinetree Hill, which sold 22 units at a median price of $2,613 psf.

In the Core Central Region (CCR), only 25 units were sold, accounting for 1.6% of developers’ sales last month. The best-selling CCR project was 19 Nassim, which sold five units at a median price of $3,372 psf. Four units were also sold at One Bernam at a median price of $2,651 psf. The 351-unit One Bernam, launched for sale in May 2021, is now fully sold.

In terms of buyer profile, Singapore citizens made up the bulk of new private home buyers at 92.4%, followed by permanent residents at 6.9%, notes Lee Sze Teck, senior director of data analytics at Huttons Asia. Foreigners accounted for 11 new home purchases, including the two most expensive transactions in February – the sale of two units at 32 Gilstead for $14.47 million and $14.61 million.

A record number of suburban homes were also sold for over $2 million in February, with a total of 603 units (including ECs) in the OCR sold at this price range. This marks the highest number of new suburban homes sold at this price range in a single month since URA data first became available in 1995. “The previous record was in November 2024, with 512 new homes in the OCR sold for at least $2 million,” adds Christine Sun, chief researcher and strategist at OrangeTee Group.

Of the 603 OCR homes that transacted for at least $2 million, 596 were non-landed homes, comprising largely of units from ParkTown Residence (397 units), Elta (145 units) and Hillock Green (16 units).

PropNex’s Wong observes that the average unit prices of recent launches have “decoupled from the sub-market where these projects are located”. This could be due to various factors, including specific attributes of the projects, pricing driven by amenities, demand from HDB upgraders, and the location of certain projects on the cusp of the CCR.

As an example, The Collective at One Sophia, a CCR project launched last November, has sold 73 units at an average unit price of $2,743 psf, based on URA data up until the end of February. “This is lower than the average transacted price of units sold at Union Square Residences ($3,175 psf) in the RCR, and only slightly higher than that of The Orie ($2,734 psf), also in the RCR,” she continues.

Meanwhile, recent OCR launches such as Chuan Park, Elta and Bagnall Haus have registered average unit prices of $2,589 psf, $2,544 psf and $2,489 psf, respectively, surpassing RCR project Nava Grove, which logged an average unit price of $2,460 psf.

Wong believes that prices could further converge in the coming months as new RCR projects located just off the CCR come to market, such as One Marina Gardens in Marina South and future developments on Zion Road residential sites.

The buoyant momentum in developers’ sales is expected to continue in March, supported by recent launches such as the 477-unit Lentor Central Residences, the 188-unit Aurea, and the 760-unit Aurelle of Tampines EC. “As of mid-March, these projects have collectively sold over 1,150 units, promising a strong closing to the quarter,” comments Marchus Chu, CEO of ERA Singapore. In light of the robust first-quarter sales, ERA has revised its new private home sales projection for the whole of 2025 to be between 8,500 and 9,000 units, up from its previous range of 7,000 to 8,000.

Huttons’ Lee estimates that developers’ sales (excluding ECs) will exceed 3,200 units in the first quarter of the year, making it the highest first-quarter sales since 2021.

Moving into the second quarter, new launches potentially include the 358-unit Bloomsbury Residences, the 937-unit One Marina Gardens, the 638-unit W Residences Singapore – Marina View, and the 107-unit Arina East Residences. However, despite the strong momentum at the start of the year, not all projects launched in the coming months may perform equally well, notes Knight Frank’s Tay. “Homebuyer demand will largely depend on the specific location and property attributes of each specific new project launch, with some projects doing better than others,” he says.…

The Singapore Land Authority (SLA) has released twenty heritage bungalows in Sembawang for tender. Situated along Admiralty Road East, Falkland Road, Auckland Road West, and Fiji Road, these two-storey black-and-white bungalows were built in the 1920s and 1930s.

With a total area of approximately 245,300 sq ft and a gross floor area (GFA) of 94,945 sq ft, these properties are available for lease with a tenure of five years and an option to extend for another four years. The bungalows can be used as serviced apartments, catering to multi-generational and senior co-living concepts. F&B and retail use are allowed, with a maximum GFA of 9,580 sq ft. The minimum stay for a serviced apartment is one week.

In line with the trend of repurposing state properties, these bungalows can also be used as event venues and social impact hubs.

Interested parties can submit their bids based on a price-quality basis, with the tender closing on June 11 at 11am. The site is expected to be awarded in October.

Read also: State properties reimagined as co-living, pop-up event venues and social impact hubs

The Singapore Land Authority (SLA) is welcoming bids for twenty heritage bungalows in Sembawang, situated along Admiralty Road East, Falkland Road, Auckland Road West, and Fiji Road. Originating from the 1920s and 1930s, these two-storey black-and-white bungalows form a cluster and occupy about 245,300 sq ft with an estimated total gross floor area (GFA) of 94,945 sq ft.

Obtaining financing is a crucial element of investing in a condo. In Singapore, there are various mortgage choices available; however, it is crucial to familiarize oneself with the Total Debt Servicing Ratio (TDSR) framework. This framework limits the amount of loan a borrower can take based on their income and current debt obligations. To make wise financing decisions and prevent over-leveraging, it is essential for investors to understand the TDSR and seek guidance from financial advisors or mortgage brokers. In addition, keeping an eye on the latest offerings from New Condo Launches can provide valuable information for potential investors.

The properties are up for lease for five years and have an option to extend for another four years. They can be used as serviced apartments, catering to multi-generational and senior co-living concepts. Additionally, F&B and retail use are allowed, subject to a maximum GFA of 9,580 sq ft. The minimum stay for a serviced apartment is one week.

In line with the trend of repurposing state properties, these bungalows can also be used as event venues and social impact hubs.

Interested parties can submit their bids based on a price-quality basis, with the tender closing on June 11 at 11am. The site is expected to be awarded in October.

Read also: State properties reimagined as co-living, pop-up event venues and social impact hubs…

CapitaLand Integrated Commercial Trust (CICT) has announced changes to its board with the appointment of Tan Choon Siang as the new CEO, effective May 1, 2025. Tan, who is currently the deputy CEO, will also be appointed as an executive non-independent director of the company and a member of the executive committee (EC).

When making the decision to invest in a condominium, it is crucial to take into account the maintenance and management aspects of the property. Condos often come with associated maintenance fees that cover the upkeep of communal spaces and amenities. While this may increase the overall cost of owning the condo, it guarantees that the property remains well-maintained and maintains its value. Hiring a property management company can also assist investors in handling the daily management tasks of their condo, transforming it into a more hands-off investment. For more information on potential properties in Singapore, visit Singapore Projects.

Current CEO Tony Tan will step down as an executive non-independent director and EC member, and will take on the role of chief corporate officer at CapitaLand Development. Tan joined CICT in 2017 and played a key role in the successful merger of CapitaLand Mall Trust and CapitaLand Commercial Trust in 2020, creating Singapore’s largest listed REIT with a market capitalization of $15.5 billion.

Incoming CEO Tan brings a wealth of experience to his new role, having previously served as the manager of CapitaLand Malaysia Trust and the chief financial officer of CapitaLand India Trust’s manager. He was also the Head of Corporate Finance & Treasury at Ascendas-Singbridge before its merger with CapitaLand in 2019.

The changes to CICT’s board are expected to further strengthen the company’s leadership and position it for continued growth and success. The appointment of Tan Choon Siang as CEO reflects CICT’s commitment to developing and nurturing talent within the company. With his extensive experience and strong track record, Tan is well-equipped to lead CICT into the future.…

; offers office, retail and event spaces

Keppel to focus on redevelopment projects after Keppel South Central

Homegrown global asset manager and operator Keppel is shifting its focus to other brownfield redevelopment projects after the completion of its flagship 33-storey office tower, Keppel South Central, according to Samuel Ng, president of the company’s real estate division in Singapore. Ng also adds that the redevelopment of Keppel South Central will serve as their showpiece.

The project in question refers to the former Keppel Towers, a 27-storey office tower that was finished in 1991, and the Keppel Towers 2 (formerly known as GE Tower), which was a 13-storey building that was completed two years later in 1993.

In March, Keppel announced the completion of Keppel South Central. The commercial tower, situated along Hoe Chiang Road in Tanjong Pagar, is said to offer around 650,000 sq ft of office, retail and event space. The typical office floor plate sizes range from 20,000 to 22,000 sq ft and have a clear ceiling height of 3.2m.

One of the advantages of investing in a condo is the potential to leverage its value for future investments. Condo owners have the option to use their property as collateral in order to secure additional financing for new investments, which can lead to a larger and more diverse real estate portfolio. While this can lead to higher returns, it is important to have a solid financial plan in place and to carefully consider the potential effects of market changes. For more information on condo investments, check out the latest Singapore Projects.

The office tower is now fully equipped with the necessary facilities and technological enhancements to deliver the same level of quality that a Grade-A office space in the CBD usually offers. These include facial recognition access, 5G Wi-Fi, and an indoor air-quality management system. The office spaces were also designed to meet the modern tenants’ needs, with adjustments to be made for after-hours operations.

Keppel has also introduced several new features to the project, including retail and event spaces on the ground floor, a health and wellness facility on the 5th and 6th floors, a landscaped terrace on the 18th floor, and end-of-trip facilities on Basement 1. These new facilities are meant to complement the building’s current amenities and offer a complete set of features that tenants have come to expect from a Grade-A office space.

According to Ng, the project’s completion marks a significant improvement in energy efficiency and cost savings when compared to the project’s previous numbers. For instance, Keppel estimates that the project will save around 6.2 million kilowatt hours (kWh) of energy annually, which is equivalent to the power consumed by 1,300 homes in Singapore. This, in turn, translates to annual savings of around $1.8 million.

The savings are due to several changes that Keppel has implemented in the building, which were based on tests conducted on other office spaces under its management. These tests helped it to identify key areas that could be improved upon, including replacing certain external windows to minimise heat transfer, the installation of smart building management systems, and various other adjustments that helped optimise energy usage.

The redevelopment project is a result of a project launched by Keppel in 2018, where it worked with the BCA to test five new technologies that could help improve energy efficiency at another ageing property – Keppel Bay Towers. As a result of the tests, the building became the first zero-energy commercial building in Singapore in 2020.

The successful implementation of the tests at Keppel Bay Towers provided Keppel with enough knowledge to turn it into a viable solution for its other projects, according to Ng. Furthermore, it has enabled Keppel to efficiently identify which technologies are best suited for various projects, thereby resulting in significant cost savings in the process.

With the completion of Keppel South Central, Ng said that Keppel is now focusing on expanding the project’s success to other buildings in the region. According to Ng, the company is looking to replicate the success of Keppel South Central to other brownfield projects in the region as part of its Sustainable Urban Renewal (SUR) strategy.

“To date, Keppel has applied its SUR initiative to eight projects across five countries, including Keppel South Central, Keppel Bay Towers, Park Avenue Central, and Saigon Centre,” he said. “The completion of projects like Keppel South Central provides fresh office supply at a time when there are no available sites for an office tower development in the core CBD area.”

To fund its SUR initiative, Keppel launched the Keppel Sustainable Urban Renewal Fund (KSURF) in April. The fund has raised about $2.3 billion so far, and it is targeting properties in various segments, including commercial, living, life sciences, hospitality, and logistics in Singapore, South Korea, Japan, Australia, and first-tier cities in China. The fund is expected to acquire the properties, complete the necessary asset enhancement works, and divest them within its seven-year life span, according to Ng.…

A 99-year leasehold semi-detached house will be up for auction at SRI on March 15 with a guide price of $3.65 million. The property, located on Kew Heights in District 16, sits on a 3,034 sq ft corner plot and has a land rate of $1,203 psf. This will be the first time the house is being offered for sale via auction as it is a mortgagee sale.Upon entering the three-storey house, you will find a double-volume ceiling living hall, an adjoining dining area, a kitchen, and a helper’s room on the ground level. The upper two levels feature six bedrooms, a family area, and a storeroom. Additionally, there is a car porch and backyard area included with the property.For potential buyers, there is the option to convert some of the common spaces into extra bedrooms, making it an ideal property for extended or multi-generational families. According to Mok Sze Sze, managing partner of auctions and sales at SRI, the guide price of $1,203 psf for the property is one of the most competitive rates in the area. URA caveats show that the property was last transacted in November 2021 for $3.19 million.The Kew Vale estate has seen two other 99-year leasehold properties being sold in the past year, with the latest being a three-storey semi-detached house that went for $3.35 million in February and a three-storey terraced house which was sold for $3.26 million in January. These transactions reflect a higher land rate of $1,398 psf and $1,417 psf respectively.Past transactions for 99-year leasehold semi-detached houses in the Kew Vale estate have seen prices increase steadily over the years. Between 2023 and 2024, seven transactions took place at an average land rate of $1,213 psf, which is a significant increase from the average land rate of $1,002 psf for seven transactions between 2021 and 2022.The property is conveniently located near major motorways such as East Coast Parkway (ECP) via Bayshore Road and will also be served by the upcoming Bedok South MRT Station along the Thompson-East Coast Line. With its expected completion in 2H2026, this will provide easy access for commuters. Additionally, there are various schools in the vicinity, including Temasek Primary and Secondary Schools, Bedok South Secondary, and Bedok View Secondary.

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Investing in a Singapore Condo offers many advantages, one of which is the potential for leveraging the property’s value for future investments. By using the condo as collateral, investors can secure additional financing for new ventures, allowing them to expand their real estate portfolio. While this tactic can lead to increased returns, it also comes with its own set of risks. As such, it is essential to have a solid financial plan in place and carefully consider the potential impact of market fluctuations. With a Singapore Condo as a valuable asset, investors have the opportunity to maximize their returns and grow their investments wisely.…