When contemplating an investment in a condo, it is crucial to also evaluate the potential rental yield. This refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, condo rental yields can vary greatly depending on factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, tend to offer more attractive rental yields. To accurately assess the rental potential of a specific condo, it is advisable to conduct thorough market research and seek advice from real estate agents. For more information, please visit Condo.
Frasers Property has entered into a partnership with two Chinese real estate companies to jointly acquire a prime residential site in Shanghai’s Songjiang district for RMB815.2 million ($151.9 million). The joint venture partners, Xiamen ITG Real Estate Group and Gemdale Corporation, acquired the site through a tender conducted by the Shanghai Municipal Bureau of Planning and Natural Resources. According to a press release on February 26, the JV partners plan to develop the site into a mix of 189 low-rise apartments, townhouses and duplex units with a total gross floor area of 334,714 sq ft. The project will also incorporate design features to mitigate flooding and promote energy efficiency, including thermal insulation, energy-saving door and window systems, and solar photovoltaics. It will cater to both upgraders and first-time homebuyers in the Fangsong Community, which is a prime residential neighbourhood in Songjiang District. The area is also near two existing projects – Club Tree and Palace of Yunjian – which were developed through joint ventures between Frasers Property and Gemdale Corporation. “This joint venture not only strengthens our presence in Shanghai but also underscores our commitment to delivering high-quality residential developments that meet the evolving needs of the Chinese community,” says Lim Hua Tiong, CEO of emerging markets in Asia at Frasers Property. This partnership marks another expansion of Frasers Property’s presence in the Chinese market, demonstrating the company’s dedication to providing top-quality real estate developments in the region.