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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.…

Sim Lian Group has announced that they have successfully sold 682 units out of the 760-unit Aurelle of Tampines executive condominium (EC), located at Tampines Street 62. This comes as a 90% take-up rate, with an average unit price of $1,766 psf.

According to the developer, all four- and five-bedroom units have been fully sold, while 84% of the three-bedroom units have also been snapped up. Sim Lian Group Limited’s executive director Kuik Sing Beng commented that the strong response to the project reflects the high demand for well-designed and well-connected modern homes in Tampines, one of the most well-connected regional centres in Singapore.

Interested buyers can get the latest information on available units and prices for Aurelle of Tampines.

PropNex’s CEO Ismail Gafoor noted that the average unit price of $1,766 psf has set another new benchmark launch price in the EC market. He also pointed out that the 90% take-up rate is the highest for a new EC project since July 2027, when the 531-unit Hundred Palms Residences was sold out on launch day at an average price of $841 psf.

Sim Lian Group also announced that the 30% quota allocated for second-timers was met by 3.15pm on launch day. The quota for second-timers will be lifted a month from the launch date.

According to Eugene Lim, the key executive officer at ERA Singapore, the take-up rate could have been higher without the quota limit on second-timers. However, he adds that second-timers will have another opportunity to ballot for a unit a month after the launch date. He also suggests that the government may want to increase the quota for second-timers buying an EC, bringing the policy in line with the recent increase in the allocation quota for second-timers buying three-room and larger BTO flats.

Huttons Asia’s CEO Mark Yip also commented on the quota, saying that the government may want to increase the quota for second-timers buying an EC, as they did for second-timers buying three-room and larger BTO flats.

The Deferred Payment Scheme (DPS) was popular among buyers, with about 68% opting for this payment option to finance their property purchases, according to PropNex’s Gafoor. The remaining buyers chose the Normal Payment Scheme.

Rewritten: One of the advantages of investing in a condo is the opportunity to leverage its value for future investments. A number of investors take advantage of using their condos as collateral to secure additional financing for new ventures, thus diversifying their real estate portfolio. While this tactic can potentially boost returns, it also carries certain risks. It is essential to have a solid financial plan in place and carefully assess the potential effects of market fluctuations. Additionally, investing in New Condo Launches can also offer an added opportunity for growth and expansion in the real estate market.

Prior to the launch, more than 2,200 electronic applications (e-apps) were received after the project opened for preview on Feb 21. This is the highest e-app figure since 2022, when Copen Grand, the first EC launched in Tengah, attracted 2,300 e-apps.

Aurelle of Tampines is the second EC to be launched in Tampines North, following the neighbouring 618-unit Tenet, a joint development by Qingjian Realty, Santarli Realty, and Heeton Holdings. Tenet, which was launched in December 2022, saw 72% of the units snapped up on launch day and is now fully sold at an average price of $1,348 psf.

Prices for units at Aurelle of Tampines start from $1.417 million ($1,687 psf) for a three-bedroom unit with 840 sq ft; $1.689 million ($1,651 psf) for a four-bedroom unit with 1,023 sq ft; and $2.258 million ($1,665 psf) for a five-bedroom unit with 1,356 sq ft.

ERA’s Lim attributes the project’s strong sales to its attractive pricing, strategic location, and unique features, which make it a highly sought-after option for eligible first-time buyers and upgraders.

The project’s proximity to ParkTown, a fully integrated mixed-use development with a transport hub (MRT station and bus interchange), shopping mall, hawker centre, and community club, may have also contributed to its success. The 1,193-unit ParkTown Residence, a joint venture between CapitaLand and UOL Group, sold 1,041 units on its launch weekend on Feb 22-23. To date, 1,043 units have been sold at an average of $2,361 psf.

Huttons’ Yip notes that Aurelle is only the second EC to be located next to a fully integrated mixed-use development, the first being the 573-unit Esparina Residences in Sengkang. Launched in October 2010, the average price was around $748 psf. Based on caveats lodged, the average price of units sold from January 2024 to January 2025 is $1,625 psf, which is a 117% increase. In November 2023, a 1,367 sq ft unit on the seventh floor of Esparina Residences was sold for $2.388 million ($1,747 psf), making it the second-highest psf price achieved at Esparina Residences. The highest was on the 14th floor, where another 1,367 sq ft unit was sold for $2.4 million ($1,756 psf).

ERA’s Lim notes that new ECs are priced about $600 psf cheaper than new private condos in 2025. However, compared to resale condos in the suburbs or Outside Central Region (OCR), the average price of a new EC is only 1% higher. This, combined with a fresh 99-year lease and modern facilities, makes new ECs an attractive option for buyers.…

A new record has been set at One Holland Village Residences with the sale of a three-bedroom unit at $3,781 psf from Feb 16 to 21. This surpassed the previous record of $3,426 psf set in August 2022 with the sale of a four-bedroom unit. The unit, located on the 25th floor, was sold for $4.68 million on Feb 17, marking the first sale at the 99-year leasehold development this year.

The sellers of the unit had purchased it from the developer for $4.19 million in November 2023, making a profit of about $490,000. One Holland Village Residences, a 296-unit development in District 10, is fully sold out and is set for completion in November 2029. The most expensive unit transacted at the development was a five-bedroom apartment sold for $11.4 million.

Hill House, a boutique condo in District 9, saw the second-highest psf-price for the period in review when a 452 sq ft, two-bedroom unit on the ninth floor was sold for $1.538 million, setting a new record of $3,402 psf. This comes just four days after another unit on the eighth floor was sold for $1.536 million at $3,398 psf.

When it comes to investing in a condo, financing is a crucial consideration. In Singapore, there are various mortgage choices available, but it is crucial to keep in mind the Total Debt Servicing Ratio (TDSR) framework. This framework regulates the amount of loan a borrower can take based on their income and current debt commitments. To make informed decisions about financing, it is important to have a clear understanding of the TDSR and seek guidance from financial advisors or mortgage brokers. This can also prevent investors from becoming over-leveraged. In addition to this, checking out Singapore Projects can provide useful information for potential investors.

Chuan Park in District 19 also saw a new record with the sale of a 732 sq ft, two-bedroom unit at $2.785 psf on Feb 19, surpassing the previous record of $2,765 psf set in November last year. The 916-unit condo, launched in November 2024, has sold 81% of its units at an average price of $2,589 psf.

No new records have been set for psf prices during the review period.…

Exclusive marketing agent, Colliers International, has put a three-storey terrace factory up for sale at Midview City. The guide price for this property is $6.2 million or $688 per square foot. This factory, situated along Sin Ming Lane, is located in the bustling Sin Ming Industrial Estate and comprises of a basement and roof terrace.

The total strata area of the property is approximately 9,009 square feet and it is zoned as a “Business 1” site under the URA Masterplan 2019. Currently, the property is fully leased and has been approved for use as a childcare centre. It is currently occupied by Star Learner preschool and childcare centre.

The 60-year leasehold light industrial building, Midview City, was completed in 2012. It is conveniently situated within walking distance to Bright Hill MRT Station on the Thomson-East Coast Line. The property can also be easily accessed from the residential areas of Bishan and Upper Thomson through its two entrances via Sin Ming Lane and Bright Hill Drive.

According to Raphael Lee, the director of industrial services at Colliers, this property offers a unique opportunity for investors as it will be sold with the preschool operator in place. The property falls under the Business 1 category and is not subject to Additional Buyer’s Stamp Duty (ABSD), making it an attractive investment option for foreigners. The Expression of Interest (EOI) exercise for this property will close on April 29 at 3pm.

When making a condo investment, it is crucial to also take into account the maintenance and management of the property. In most cases, condos have maintenance fees that cover the maintenance of shared spaces and amenities. While these fees may increase the overall cost of owning a condo, they provide assurance that the property will remain well-maintained and maintain its value. Hiring a property management company can assist investors in handling the routine management of their condos, turning it into a more hands-off investment. When looking for condo investments, also check out Singapore Projects for potential opportunities.

For potential investors, it may also be worth taking note of the price trend in the industrial sector. Below are some recent industrial sale transactions and rental transactions, as well as a comparison of the price trend between commercial and industrial properties.…

According to Hamish MacDonald, the head and chief investment officer of APAC Real Estate at BlackRock, investors are showing a clear preference for Asia Pacific real estate markets that offer high liquidity. As we move further into the year, sectors such as accommodation, logistics, and alternative assets are likely to benefit from favourable economic conditions. MacDonald specifically mentions Australia, Japan, Singapore, and Auckland in New Zealand as countries with abundant liquidity and the main focus for BlackRock this year.

MacDonald believes that investor sentiment will lean toward bullish this year, a stark contrast to 2023 and 2022. He predicts that institutional investors will engage in more discussions around deploying and recycling capital in selective Asia Pacific real estate markets.

Read also: BlackRock bets on serviced apartments in Singapore; life sciences in Australia

The Singapore government has implemented several property cooling measures that should be taken into consideration when investing in condos. These measures have been put in place to prevent speculative buying and maintain a steady real estate market. One such measure is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may have a temporary impact on the profitability of condo investments, they play a crucial role in creating a safe and stable investment environment in Singapore. For more information on Singapore Condos, please refer to the attached article.

In Singapore, BlackRock has been targeting serviced apartment properties, as evidenced by its recent partnership with YTL Corp to acquire Citadines Raffles Place for approximately $290 million in October last year. Prior to that, the firm teamed up with Hong Kong-based accommodation operator Weave Living to purchase Citadines Mount Sophia for $148 million in February 2024. This week, the Weave Living-operated property has reopened as Weave Suites – Hillside, with 175 rooms. MacDonald explains that the decision to focus on serviced apartments is due to the high demand for this type of accommodation in Singapore, coupled with a lack of new supply.

He emphasises that BlackRock is not aiming to build a massive portfolio of assets in Singapore, but rather to target specific deals. MacDonald says that they prefer to acquire existing properties that can be refurbished and repositioned in collaboration with a partner to add value through new amenities.

Singapore’s strong business growth continues to attract robust inflows of capital and high-skilled labour, according to MacDonald. As such, the firm remains optimistic about investment opportunities in Singapore.

MacDonald also notes that Japan will remain a significant target for real estate investors this year. He believes that the Japanese economy has favourable prospects, based on their analysis of domestic pricing power, wage growth, and corporate reform, which collectively support growth in real estate. Daigo Hirai, the head of Japan Real Estate at BlackRock APAC, mentions that the combination of wage increases and rising construction costs have led to a decent rental uplift in Japan’s residential market in recent quarters. He expects a 7% to 8% rise in residential rents across major cities like Tokyo and Osaka this year. Hirai also notes that tenants are seeking larger units instead of compact studios. In line with this trend, BlackRock is seeking to partner with an experienced accommodation operator to manage a hybrid residential investment strategy that caters to both inbound tourist accommodation and domestic rental demand. This approach would allow the firm to establish a stronger presence in popular tourist destinations such as Kyoto and Fukuoka. Hirai explains that the ideal assets for this strategy would be those close to train stations in residential-commercial neighbourhoods, such as Osaka’s Namba district, as well as smaller developments with up to 50 units. MacDonald adds that the firm’s focus in Japan will be on residential assets.

MacDonald notes that BlackRock’s key to operating in Japan successfully is by deploying specialist ground teams that can spot potential acquisition opportunities at a significant discount. As such, the firm’s focus on Japan will be on residential assets.

Meanwhile, according to Ben Hickey, the head of Australia Real Estate at BlackRock, long-term population growth projections support positive long-term growth in most sectors of the Australian real estate market. Hickey notes that most property sectors in Australia have a history of under-supply and low vacancy rates. Consequently, any investment strategy in Australia should consider whether rental growth can exceed inflation, the existing supply-demand gap, and a favourable exit strategy. In light of this, BlackRock has been targeting niche asset classes in Australia, including childcare properties, last-mile logistics assets, life science real estate, and self-storage properties.

Read also: Weave Living and Blackrock form JV to acquire Citadines Mount Sophia for $148 mil

Hickey explains that these four asset types stand to benefit from Australia’s long-term population growth and are chronically undersupplied compared to the broader regional markets. He also mentions that investing in these assets can lead to above-average returns while mitigating risk, as it is not reliant on a favourable interest rate outlook for generating real estate returns.…

The trend of shrinking unit sizes in show flats may have caught your attention in recent years. This is understandable, as our perception of size is relative to what we are used to. In the past, the homes we grew up in, whether HDBs or condos, were generally larger in the 1990s and 2000s. The average size of a new condo unit in 1995 was 1,272 sq ft, which increased slightly to 1,286 sq ft in 2005, but dramatically decreased to 858 sq ft in 2015. In 2024, the average size was 929 sq ft.

However, it is important to note that the demographics have also changed significantly in the last few decades. In 1995, the average household consisted of four members, which gradually decreased to 3.6 in 2005, 3.4 in 2015, and further dropped to 3.1 in 2024. This also means that on a per-household-member basis, the average living space has decreased from 318 sq ft in 1995 to 300 sq ft in 2024. This is a 5.7% difference over 29 years, which is commendable given the land constraints in Singapore.

The decrease in unit sizes can also be attributed to the introduction of “Mickey Mouse” units in 2008, with the smallest unit being only 258 sq ft. This was a significant reduction in the barriers to entry for property investment, with units selling for as low as $375,000. This led to a proliferation of such units in subsequent years, raising concerns about the living environment.

In response to this trend, the Urban Redevelopment Authority (URA) introduced guidelines in 2011, limiting the maximum number of dwelling units (DUs) based on an average size of 70 sq m. This was further tightened in 2019, with an increase of 21.4% in the average DU size to 85 sq m. Additionally, more areas were required to meet a more stringent average DU size of 100 sq m. These measures effectively arrested the decline in average DU size outside the Central Area.

Investing in a Singapore Condo has become an increasingly popular option for both local and foreign investors. This is largely due to the city-state’s impressive economy, stable political climate, and excellent standard of living. With a thriving real estate market, Singapore offers a range of opportunities for investors, with condos in particular standing out for their convenience, amenities, and potential for high returns. In this article, we will explore the advantages of investing in a condo in Singapore, as well as important considerations and steps to take.

However, this trend persisted in the Central Area, with the average DU size dropping to its lowest of 725 sq ft in 2020. In response, the URA extended the guidelines to the Central Area in 2023, requiring at least 20% of DUs to have a net internal area of at least 70 sq m. The latest guideline change also harmonized the definition of strata area and gross floor area (GFA), leading to a 6% decrease in the average DU size.

Looking at the different market segments, the Rest of Central Region (RCR) saw the most significant increase in average DU size by 19.5% since 2015. This could be attributed to the stricter controls on average DU size in this area. The Outside Central Region (OCR) also saw a 5.8% increase in average DU size, while the Core Central Region (CCR) experienced a decline of 11.7%.

Overall, the average DU size in 2024 increased to 929 sq ft, 8.3% larger than 2015’s 858 sq ft. However, with the harmonization of GFA definition, this trend may reverse in the future. Despite that, buyers nowadays are getting better value for their purchases, with better provisions and smart home features becoming the bare minimum in condos. With these improvements, the average DU size may decrease, but the quality of living space will remain largely unchanged.…

The Ministry of National Development (MND) recently announced improvements to both the Silver Housing Bonus (SHB) and the Fresh Start Housing Scheme (Fresh Start) during the Committee of Supply debate. These changes are part of the government’s ongoing efforts to support seniors in downsizing and to increase access to public housing for lower-income households living in HDB rental flats.

The SHB encourages seniors to better prepare for their retirement by unlocking the value of their residential assets and transferring it to their CPF Retirement Account (RA). Currently, applicants must be 55 years old or above, have a monthly income of no more than $14,000, own a property that does not have an Annual Value (AV) exceeding $21,000, and purchase a three-room HDB flat or smaller (excluding three-room terraces) as their replacement property.

Currently, SHB applicants have the option to top-up their CPF RA with up to $60,000 to receive a cash bonus of up to $30,000. This amount is prorated at a rate of $1 cash bonus for every $2 top-up made into their RA.

Effective from December 1st of this year, SHB applicants will be eligible to receive the cash bonus as long as they can prove that their downsizing resulted in a net increase in their CPF RA account balance from any source, including CPF housing refunds. This means that seniors with outstanding loans using their CPF accounts may no longer have to make a cash top-up to qualify for the SHB.

The SHB has also been expanded to allow more seniors who own properties with higher values to qualify. Now, applicants who own properties with an AV of more than $21,000 but less than or equal to $13,000 can also qualify. This expansion will benefit an estimated 15,000 more seniors, according to MND.

These eligible applicants will receive a cash bonus based on the amount their RA increases, up to $60,000. However, this amount will be prorated to $1 cash bonus for every $6 their RA increases, up to $10,000.

Additionally, successful SHB applicants will receive a $10,000 cash bonus when they right-size to a two-room or smaller HDB flat (including Community Care Apartments). This amount is not prorated and will apply regardless of the amount committed to their RA.

Seniors can apply for the SHB within a year of their second property transaction. This means that seniors who complete their downsizing after December 1, 2024, can apply for the SHB on December 1, 2025, under the enhanced scheme.

Expansion of Fresh Start Housing Scheme

Minister of State for National Development Muhammad Faishal Ibrahim has announced enhancements to the Fresh Start Housing Scheme. Launched in 2016, the program offers financial assistance and social support to Second Timer (ST) families who have previously purchased a subsidized HDB flat, with the aim of helping them achieve homeownership.

Under the current Fresh Start scheme, applicants can purchase a two-room flexi or a three-room standard BTO flat with shorter leases, typically ranging from 45 to 65 years. These leases must last until the youngest owner turns 95. Flats purchased under this scheme are subject to an extended Minimum Occupation Period of 20 years, compared to the usual five years.

The enhancements to the scheme include increased financial support. Eligible families will now receive $75,000 from the Fresh Start Housing Grant, up from the previous $50,000.

The new grant consists of an initial disbursement of $60,000 credited to applicants’ CPF Ordinary Account (OA) before their key collection dates. The remaining $15,000 will be disbursed to their OA over the next five years to support mortgage payments.

The eligibility criteria for the scheme have also been expanded to allow First Timer (FT) families to apply. While FT families are not eligible to receive the Fresh Start Housing Grant as they are already eligible for the larger Enhanced CPF Housing Grant (EHG) of up to $120,000, they will still benefit from the reduced cost of shorter-lease BTO units and the social support provided under the program.

Investing in a condominium in Singapore has numerous advantages. This type of property offers a consistent high demand, the potential for increased property value, and attractive rental returns. However, it is essential to carefully evaluate various factors such as location, financing options, government regulations, and market trends before making a decision. Conducting thorough research and seeking expert advice can help investors make smart choices and maximize their profits in Singapore’s ever-evolving real estate market. Whether you are a local investor looking to diversify your assets or a foreign buyer in search of a secure and lucrative investment, the new condo launches in Singapore, such as those offered by New Condo Launches, are a compelling opportunity to consider.

Eligible FT families can apply for Fresh Start starting in April 2025, while the revised Fresh Start Grant amount will take effect from the July 2025 BTO exercise.…

The Ministry of National Development (MND) has recently announced changes to the Additional Buyer’s Stamp Duty (ABSD) regime for licensed housing developers, which will come into effect on March 6. This move aims to encourage developers to undertake urban transformation developments, optimise land use through intensification or integration, rejuvenate older estates or adopt new construction technologies.

Securing financing is a crucial element when it comes to investing in a Singapore condo. While there are various mortgage choices available in Singapore, it is vital to have an understanding of the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan a borrower can obtain based on their income and current debt obligations. To navigate through this, it is recommended to work with financial advisors or mortgage brokers to make well-informed decisions and prevent over-leveraging.

One of the key changes is an extension of the ABSD remission timeline for developers undertaking complex projects from six to 12 months. This extension will apply to projects with a minimum of 700 units upon completion, or those that have at least 1.5 times the number of homes of the existing development. These projects include en bloc redevelopments, as well as those with complex technical or instructional requirements, such as projects integrated with major public transport facilities.

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Another change is the inclusion of two new categories of projects that will be granted a six-month extension. These include projects approved under the Strategic Development Incentive (SDI) scheme, and those aiming to achieve higher productivity targets through the adoption of new construction technologies, methodologies or practices. If a project meets the criteria of more than one category, it will be granted a one-year extension.

These changes will apply to all residential land acquired on or after March 6. Currently, licensed housing developers purchasing residential redevelopment sites are subjected to a 5% ABSD upfront, which is non-remittable, and another 35% ABSD, which is remittable when the developer completes and sells all the units in the project within the five-year timeframe.

The latest revisions come after changes were announced in February last year, which offered a lower clawback rate for residential developments with at least 90% of units sold. PropNex Realty CEO Ismail Gafoor says, “Such extensions will give developers more flexibility and may help to mitigate development risks to some extent, as they have a bit more time to sell units, particularly for mega projects.”

Huttons Asia’s senior director of data analytics Lee Sze Teck believes that the ABSD revisions will “give a much-needed boost to the en bloc market, in particular, bigger en bloc projects.” Similarly, OrangeTee Group’s chief researcher and strategist Christine Sun says that while the proposed policy change will likely be appreciated, developers may still face challenges due to other factors. This includes the success rate of en bloc sales, which depends on the willingness of buyers and sellers to negotiate prices.

However, ERA’s managing director of capital markets and investment sales Tay Liam Hiap believes that this could be “an opportune time” for older projects such as Braddell View and Pine Grove to explore en bloc opportunities. These projects may yield around 2,000 new homes, which could take more time to sell. Meanwhile, Gafoor notes that the policy change may not “spark a revival in the en bloc market”, and expects developers to continue to be cautious due to the high cost of redevelopment, ample private housing supply, and potential policy risks.…

The Land Transport Authority (LTA) has announced plans for two new MRT lines, with feasibility studies currently underway. Set to be completed in the 2040s, these lines could potentially serve over 400,000 households.

The first line, known as the Seletar Line, is proposed to connect areas such as Woodlands, Sembawang, Sengkang West, Serangoon North, Whampoa, Kallang, and the Greater Southern Waterfront. This will provide better accessibility for commuters in these regions.

The government’s efforts to maintain a stable real estate market in Singapore also play a crucial role in the consideration of condo investments. In order to prevent speculative buying and promote a more sustainable market, the Singaporean government has implemented several property cooling measures in recent years. One such measure is the Additional Buyer’s Stamp Duty (ABSD), which levies higher taxes on foreign buyers and individuals purchasing multiple properties. While these measures may initially affect the profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a more secure investment environment. Furthermore, with the introduction of New Condo Launches, the condo market in Singapore continues to thrive and provide opportunities for investors to diversify their portfolios.

The second line, currently referred to as the Tengah Line, will complement the existing transport network in the west and northwest regions. This line is expected to serve areas such as Tengah, Bukit Batok, Queensway, and Bukit Merah.

Transport Minister Chee Hong Tat announced in parliament on March 5 that depending on the results of the feasibility studies, the Seletar Line and Tengah Line may be integrated to provide a more comprehensive network.

In addition to these new lines, LTA also plans to proceed with the West Coast Extension (WCE). This will extend the Jurong Region Line (JRL) to connect with both the Circle Line (CCL) and Cross Island Line (CRL).

The WCE will be implemented in two phases. The first phase, set to be completed by the late 2030s, will extend the JRL from Pandan Reservoir Station to connect with the CRL. The second phase will see the JRL extend from West Coast Station to connect with the CCL’s Kent Ridge Station by the early 2040s.

Once completed, the WCE will provide residents travelling from the West to the city centre with up to 20 minutes of time savings.

In line with the government’s plans for the development of Singapore’s rail network, Chee also announced an investment of up to $1 billion over the next five years to maintain high-reliability standards for both newer and older train systems.

This investment will go towards condition monitoring systems to enable more proactive and targeted maintenance, as well as the use of new technologies to improve the efficiency and effectiveness of rail maintenance. It will also provide training programmes for rail workers to enhance their skills.

According to LTA, these efforts to expand the rail network, improve rail asset management, and upskill the rail workforce will ensure that convenient, reliable, and resilient public transport services can continue to be provided for commuters.…