Dyslexic Condo Press

The latest Real Estate Sentiment Index (RESI) published by the National University of Singapore (NUS) reveals a positive shift in property buying sentiment in Singapore during the third quarter of 2024. The RESI, which is measured quarterly by NUS’s Department of Real Estate and the NUS Institute of Real Estate and Urban Studies (IREUS), surveys senior executives from real estate firms to gauge the overall performance of the private real estate market.

The current sentiment index has risen from 4.8 in the second quarter to 5.9 in the third quarter, while the future sentiment index has also seen an uptick from 5.1 to 5.8 during the same period. Additionally, the composite sentiment index has climbed from 4.9 to 5.9, marking the first time all three indices have surpassed the neutral score of 5. This is attributed to a growing sense of optimism in the overall market, as stated by IREUS director Professor Qian Wenlan.

Prof Qian also attributes this positive sentiment to the recent rate cut by the US Federal Reserve in September, the first since 2019, and another reduction in early November. She expects further rate cuts in the coming months, which could improve credit availability and lower the costs of doing business, leading to a boost in market sentiment.

According to Professor Sing Tien Foo, Provost’s Chair Professor at the NUS Department of Real Estate, the strong performance of the suburban residential, hotel/service apartments, and suburban retail areas have also contributed to the positive market sentiment. Suburban residential and hotel/serviced apartments recorded the highest current net balances of +35%, followed by suburban retail (+26%). These sectors also have a positive outlook, with suburban residential scoring +29% for future net balance, while hotel/serviced apartments and suburban retail scored +35% and +19%, respectively.

However, Prof Sing notes that developers remain concerned about global economic uncertainty, with 67.7% of respondents citing a decline in the global economy as a potential risk. This is followed by job losses, a decline in the domestic economy, and an oversupply of new property launches, which ranked at 41.9%.

The government’s property cooling measures are a crucial aspect to consider when investing in condominiums in Singapore. In order to maintain a stable real estate market and prevent speculative buying, the Singaporean government has implemented various measures throughout the years. 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 impact the initial profitability of condo investments, they ultimately contribute to the long-term stability of the market, making it a secure investment environment. This is one of the reasons why Singapore projects continue to attract investors looking for a reliable and sustainable market.…

Singapore has recently been recognized as the sixth-highest city in the world in terms of branding, according to the latest Brand Finance Global City Index. The index, which is published by Brand Finance, a renowned brand evaluation and strategy consultancy based in London, ranks cities based on their brand power and perceptions.

Singapore has a constant high demand for condos due to its limited land availability. Being a small island nation with a rapidly expanding population, Singapore faces a shortage of land for development. As a result, the government has implemented strict land use policies and a fiercely competitive real estate market, causing property prices to consistently rise. This has made investing in real estate, especially in condos, a highly profitable venture with the potential for capital appreciation. If you are looking to invest in Singapore, consider checking out Singapore Condo for some great options.

The latest index is a result of a comprehensive survey that was conducted worldwide in September, reaching out to 15,000 individuals in 20 different countries. The survey participants ranked 100 cities based on key performance indicators that aimed to showcase the overall appeal and desirability of each city in terms of living, working, studying, visiting, retiring, and investing.

The respondents were also asked to associate specific attributes with each city, choosing from a list of 45 attributes that were grouped into seven pillars, including Business & Investment and Culture & Heritage.

Singapore’s overall ranking was significantly boosted by its outstanding performance within the Business and Investment pillar, where it placed third globally. The perceptions evaluated under this pillar included the ease of doing business, the strength of the economy, and the overall supportiveness of the city for start-ups. Additionally, the city was also highly ranked for its low crime and violence rates.

Alex Haigh, the managing director for Asia Pacific at Brand Finance, highlighted Singapore as the “crown jewel” of the Asean region when it comes to city branding. He also acknowledged that Singapore has solidified its position as a premier global financial center, leading in economic expansion, investment appeal, and world-class infrastructure.

Globally, London retained its top position as the world’s most prominent city brand, followed by New York, Paris, Tokyo, and Dubai. With its remarkable brand power and perceptions, Singapore has proven itself to be a highly desirable city and a sought-after destination for living, working, and investing.…

When considering investing in a condominium, it is crucial to also analyze its potential rental yield. Rental yield refers to the annual rental income compared to the property’s purchase price, expressed as a percentage. In Singapore, condo rental yields can vary significantly, 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 better rental yields. To gain a better understanding of a specific condo’s rental potential, it is essential to conduct thorough market research and seek advice from real estate agents. Additionally, keeping an eye on new condo launches can provide valuable insights into the rental market trends.

Singapore’s luxury property market continues to show resilience as K Suites, Thomson Three, and 19 Nassim set new price records during the first 10 days of November. According to data from EdgeProp, K Suites, a freehold boutique development, topped the list with a record-breaking psf price of $2,443. The development, located in District 15 along Lorong K Telok Kurau, saw the sale of an 872 sq ft three-bedroom unit for $2.13 million on November 8. This marks the first time the condo has crossed the $2,400 psf mark and beats its previous high of $2,196 psf set in May 2023. K Suites comprises a five-storey apartment block with 19 units and is a redevelopment of the former Ji Liang Gardens. The project has seen strong sales with eight units, or 42%, sold to date at an average price of $2,099 psf since launching in April 2023. Meanwhile, Thomson Three, a 99-year leasehold condo on Bright Hill Drive, also achieved a new high of $2,379 psf, with the sale of a 1,033 sq ft three-bedder on the 19th floor for $2.46 million on November 6. This is the first time the condo has crossed the $2,300 psf mark and surpasses its previous high of $2,204 psf, set in September 2023. Completed in 2016, Thomson Three has 435 units ranging from one- to four-bedrooms, and is within walking distance of the Upper Thomson MRT Station. Lastly, luxury condo 19 Nassim saw a new price record of $2,947 psf, achieved through the sale of a 646 sq ft, one-bedroom unit for $1.9 million on November 9. This is the first time the development has dropped below the $3,000 psf mark and beats its previous record low of $3,001 psf set in March 22. Completed in 2023, 19 Nassim is a 99-year leasehold condo on Nassim Hill in prime District 10. It has sold 61 of its 101 units since first launching for sale in 2020. Despite the record-breaking prices, the luxury property market is still seeing some deals with developer prices at a new low. However, the market remains resilient with strong sales and steady prices for quality projects in prime locations.…

In the midst of the bustling private residential market, potential real estate investors should consider investing in more stable, income-generating assets such as HDB shophouses. An excellent opportunity has recently arisen to acquire one of these highly coveted properties in the well-established Toa Payoh neighborhood.

The listed HDB shophouse, measuring 1,478 sq ft, is located at 125 Toa Payoh Lorong 1, one of the most centrally located estates in District 12. Priced at $2.88 million, this prime property sits on a strategic site between Toa Payoh Lorong 1 and Toa Payoh Lorong 2, and is less than 200m away from the Braddell MRT Station on the North-East Line. According to LTA ridership statistics, this station serves an estimated 13,000 MRT riders daily and is closely connected to the surrounding HDB flats.

Moreover, this shophouse also benefits from its close proximity to various amenities such as the Toa Payoh West Market and Food Court, Kheng Cheng School, Toa Payoh West Community Centre, and the Singapore Federation of Chinese Clan Association Building on Toa Payoh Lorong 2. With several rejuvenation plans planned for the Toa Payoh estate and an influx of new households in the area, the new owner can expect to capitalize on the growth of Toa Payoh, which will increase pedestrian footfall and ultimately enhance capital values in the vicinity.

Market Comparison

This HDB shophouse is exclusively marketed by Aster See, a senior marketing director at ERA Realty. As a veteran in the industry, See reveals that most HDB shophouses in city fringe locations typically yield a rental return of 2-3% based on their selling prices. In contrast, the shophouse at 125 Toa Payoh Lorong 1 offers an estimated rental return of approximately 4%, making it a more attractive investment opportunity for those looking for higher rental yields. Additionally, the competitive pricing and strong value of this property set it apart in the market.

Financial Insights

In addition, See also highlights that this property presents an attractive investment opportunity with an estimated rental yield of approximately 4%, which is competitive in the current market and provides a steady income for investors. Coupled with potential capital appreciation in the future as Toa Payoh continues to revitalize, the long-term rental return on this property could be substantial.

Rejuvenation of Toa Payoh

Toa Payoh will benefit from various government initiatives and schemes aimed at rejuvenating this mature housing estate. It is one of three neighborhoods earmarked for rejuvenation under the government’s third phase of its Remaking Our Heartland program. This comprehensive program, first introduced by then-Prime Minister Lee Hsien Loong in his 2007 National Day Rally speech, aims to revitalize HDB towns and estates to ensure their sustainability and vibrancy.

Since 2015, various plans have been implemented in Toa Payoh to enhance its commercial and recreational facilities. The most notable development is the new integrated project on the site of the former swimming complex, sports hall, and stadium along Toa Payoh Lorong 6.

The upcoming integrated development will comprise new sports facilities, a football stadium, a new swimming pool complex, indoor sports halls, sheltered tennis courts, futsal courts, netball courts, and fitness studios. National training centers for aquatics, netball, and table tennis are planned for the site, which will also include a polyclinic and library.

The HDB shophouse for sale is available for $2.88 million.

When this 12-hectare integrated development is completed in 2030, it is expected to enhance Toa Payoh’s appeal as an HDB town and increase footfall for the shops in the area, including the HDB shophouse for sale at nearby 125 Toa Payoh Lorong 1.

Rejuvenation of Toa Payoh and Caldecott

The government’s plans to revitalize Toa Payoh and neighboring Caldecott will be anchored by several thousand new flats in these two estates. One of the upcoming Build-To-Order (BTO) projects is Toa Payoh Ridge, located at the junction of Toa Payoh Rise and Lorong 1 Toa Payoh. This 920-unit BTO project is less than 300m from the HDB shophouse for sale.

Toa Payoh Ridge was launched as part of the February 2020 BTO exercise. It consists of four 40-storey residential blocks and is expected to be completed in the first half of 2025. The BTO project sits between Toa Payoh and the upcoming Caldecott estate, which has been earmarked for future residential development.

Caldecott has been earmarked for future residential development since 2017 when the government announced its plans to build new BTO flats on a 10-hectare plot next to Caldecott MRT Station on the Circle Line. These new flats will be less than 500m from the HDB shophouse for sale at 125 Toa Payoh Lorong 1.

Rejuvenation plans for Toa Payoh will increase the customer catchment around the HDB shophouse at 125 Lor 1 Toa Payoh.

The government seems to be laying the groundwork for a new BTO project in Caldecott, adjacent to Toa Payoh Ridge. Last February, the Urban Redevelopment Authority rezoned a plot at the junction of Toa Payoh Rise and Braddell Rise from educational to residential use, with an impressive gross plot ratio of 5.0. This suggests that a high-rise BTO development may be in the works.

Supported by these surrounding developments, the shophouse for sale could benefit from the increased footfall around the area as the customer catchment of the area broadens.

The vibrant city of Singapore boasts a stunning cityscape, filled with towering skyscrapers and modern infrastructure. One of its most distinctive features is the abundance of luxurious condominiums scattered throughout its prime areas, catering to the needs and desires of both locals and foreigners. These high-end residences perfectly combine luxury and convenience, making them a highly coveted choice for potential buyers and tenants alike. With top-notch amenities like swimming pools, fitness centers, and 24/7 security services, these properties set the standard for upscale living and are an alluring investment option. Not only do they offer attractive rental income, but they also promise significant property appreciation over time. With such impressive qualities, it’s no wonder that investing in a Singapore condo is a smart decision for savvy investors. Add Condo to rewritten paragraph

The construction of new BTO flats in Caldecott and Toa Payoh bodes well for the new owner of the HDB shophouse for sale. With nearby residential developments, the area will attract an influx of new residents.

For more information, please contact Aster See at 98416930, Senior Marketing Director (R063006G) at ERA REALTY NETWORK PTE LTD.

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Eight HDB shophouse units at Bras Basah, Geylang, and Kallang up for sale from $19.5 million.

Two HDB shophouses in Toa Payoh and Ang Mo Kio going for $51 million.

HDB shop at Teck Whye Lane on the market for $4.45 million.…

Jointly developed by JTC and HDB, Punggol Digital District is envisioned to be the first neighbourhood in Singapore to adopt a truly digital and smart urban living concept.The integration of adaptive reuse of former industrial buildings is gaining popularity in Singapore, and the recent tender for an industrial GLS site in Kallang Way has been awarded to CL Savour Property, a subsidiary of CapitaLand Development. The top bid of $368.901 million for the 474,772 sq ft site is a 14.9% increase from the second highest bid of $317.889 million by a consortium of Soon Hock Group, BHCC Construction, and Evermega.This development is part of JTC’s master plan to rejuvenate the area sustainably and reduce carbon emissions in the built environment, says Tang Hsiao Ling, the director of urban planning and architecture division at JTC. It is also an effective way to preserve the industrial legacy of the site. The site, which was launched on June 25 as the last of five Confirmed List sites in the 1H2024 IGLS programme, has received four bids at the close of the tender on Oct 1.The site, which has a 33-year tenure, is part of a designated food zone and will feature food manufacturing spaces and retail uses to inject vibrancy into this industrial area. It is zoned Business 2 under the master plan, with a maximum allowable gross floor area of 1.23 million sq ft. The site is also the first plot earmarked for adaptive reuse of a former industrial building. Currently, it consists of an existing terrace factory that will be retained and adapted for continued industrial use.The integration of adaptive reuse in former industrial buildings is a key strategy for sustainable development and has gained popularity in Singapore. This development is strategically master planned by JTC and HDB as part of the Punggol Digital District, which is envisioned to be the first neighbourhood in Singapore to adopt a truly digital and smart urban living concept.

Singapore’s cityscape is characterized by towering skyscrapers and state-of-the-art infrastructure. Condos, strategically situated in desirable locations, offer a fusion of lavishness and ease that appeals to local residents and foreigners alike. These residential complexes are outfitted with various facilities including swimming pools, fitness centers, and security services, elevating the standard of living and making them an enticing choice for prospective renters and purchasers. From an investment standpoint, these amenities translate into greater rental returns and appreciation of the property’s value in the long run. Condos are an integral part of the urban landscape in Singapore, offering unparalleled comfort and convenience.…

Rewritten:

When investing in property in Singapore, it is crucial for foreign investors to be aware of the regulations and limitations surrounding ownership. While foreigners are typically able to buy condominiums with ease, purchasing landed properties may come with stricter rules. Additionally, foreign buyers are required to pay the Additional Buyer’s Stamp Duty (ABSD), currently set at 20% for their first property purchase. Despite this extra expense, the reliable stability and potential for growth in the Singapore real estate market continue to entice foreign investment. Consider exploring Singapore Projects for further opportunities in this market.

A coffee shop located at 253 Choa Chu Kang Ave 1 is now available for purchase through an expression of interest (EOI), with a suggested price of $11 million. The shop takes up a total area of 2,540 sq ft and is situated within Keat Hong Shopping Centre, a two-storey HDB commercial development that features various coffee shops, a supermarket, and a variety of other shops and stalls.

The property is zoned for commercial use and boasts a 99-year leasehold tenure, with a remaining lease of 68 years. It is situated on the ground floor and is currently leased to a coffee shop operator, with seven food stalls and a drink stall on site. According to Jervis Isaiah Ng, founder of JNA Real Estate, which is a team under PropNex Realty and the exclusive marketing agent for the property, potential buyers could be interested in operating the coffee shop themselves, renovating and leasing it out, or continuing to lease it out to coffee shop operators.

One of the advantages of this property is that it does not have living quarters, making it exempt from Additional Buyer’s Stamp Duty. Keat Hong Shopping Centre is a conveniently located, with the South View LRT Station on the Bukit Panjang LRT Line within walking distance, as well as the upcoming Choa Chu Kang West MRT Station on the Jurong Region Line, expected to be completed by 2027. In addition, other amenities such as Choa Chu Kang Primary School and the recently renovated Choa Chu Kang West Market are just a stone’s throw away.

The EOI for this property will close on December 22, 3pm. Interested parties are encouraged to submit their bid before the deadline.…

showflat divestment

Singapore has a high demand for condos, and one of the main contributing factors is the limited availability of land. As a small island country, Singapore is facing an ever-growing population, resulting in a scarcity of land for development. In response, the government has implemented strict land use policies, creating a competitive real estate market where property prices continue to rise. As a result, investing in real estate, particularly condos, has become a highly attractive venture with the potential for significant capital appreciation. For more information on Singapore Condos, visit Singapore Condo.

On November 19, Keppel announced that it will be selling its data centre joint venture to Keppel DC REIT for a total price of $1.38 billion. The JV, in which Keppel’s connectivity division owns 60% and Cuscaden Peak Investments Private Limited owns 40%, owns the Keppel Data Centre Campus at Genting Lane in Singapore. This campus includes two completed and fully contracted data centres, namely Keppel DC Singapore 7 (KDC SGP 7) and Keppel DC Singapore 8 (KDC SGP 8), which are both fully contracted to global internet companies on a colocation basis.

The construction of KDC SGP 7 and KDC SGP 8 was funded by the JV, Keppel’s private fund Alpha Data Centre Fund and its parallel fund (ADCF), as well as co-investors. After the proposed transaction is completed, KDC REIT will fully own KDC SGP 7 and KDC SGP 8, with Keppel serving as the operator and facility manager. As part of the transaction, KDC REIT will acquire a 49% interest in the JV and subscribe for two new classes of securities issued by the Keppel JV for up to $1.03 billion, giving the REIT a 99.49% economic interest in both data centres. KDC REIT will also have the option to acquire the remaining 51% stake in the JV from Keppel in the second half of 2025, which holds a 0.51% economic interest in the data centres.

In addition, KDC REIT will pay an additional $350 million to the JV’s shareholders, ADCF and co-investors, if the campus receives approvals to extend its land tenure lease to 2050. This proposed acquisition is expected to increase KDC REIT’s distribution per unit (DPU) by 8.1%, as well as its assets under management (AUM) by 36% to $5.2 billion with 25 data centres across Asia Pacific and Europe.

Keppel’s share of the divestment will be approximately $280 million, which includes the estimated consideration for Keppel’s 51% stake in the JV should the call option be exercised, as well as additional consideration should the campus be granted a 10-year land tenure lease extension. The JV also has a vacant land plot that will be sub-leased to Keppel’s private funds, Keppel DC Fund II and the upcoming Keppel DC Fund III, for the development of the third data centre, KDC SGP 9.

Keppel’s Manjot Singh Mann, CEO of the connectivity division, believes that this transaction highlights Keppel’s ability to structure deals with compelling outcomes and value creation for the company, private funds, and REIT. Keppel’s integrated ecosystem offers access to power and other critical resources, technology expertise, and strong relationships with global internet companies, which are essential for success in the data centre business. With access to multiple pools of capital, Keppel can develop a robust pipeline of AI-ready data centres that provide effective solutions for customers and attractive investments for its funds and REIT.

The CEO of KDC REIT’s manager, Loh Hwee Long, is “excited” to embark on this “landmark deal” during the REIT’s 10th anniversary. The proposed acquisition is expected to be immediately accretive to DPU and will enhance the portfolio’s income resilience while also providing the potential for rental uplifts and capacity expansion. This transaction further solidifies KDC REIT’s position as one of the largest owners of stable data centres in Singapore, where demand is high, and supply is limited. The transaction will be completed in stages and is expected to be finalized by the end of 2025.…

In Singapore, the cityscape is characterized by towering skyscrapers and contemporary infrastructure. Prime locations in the city are often home to condominiums, offering a perfect combination of opulence and convenience that appeals to locals and foreigners alike. These residential complexes boast an array of top-notch amenities, including swimming pools, fitness centers, and security measures, elevating the standard of living and making them a desirable choice for potential renters and buyers. For real estate investors, these features equate to higher rental returns and increasing property values over time. Additionally, the recent new condo launches further enhance the appeal of these modern living spaces.

Frasers Property, together with its long-standing partner Sekisui House, has announced plans to redevelop the Robertson Walk and Fraser Place Robertson, which the company currently holds under a 999-year lease. The two companies will be working together to create a new mixed-use development, which will include residential units, F&B options, and entertainment facilities.

The project is set to begin next year and is expected to be completed by the end of 2028, with a gross floor area of 30,664 sqm (330,067 sq ft). Frasers Property CEO, Soon Su Lin, states that this redevelopment aligns with the company’s active asset management strategy. She also adds that they have identified the potential of this prime 999-year site in Robertson Quay.

In collaboration with Sekisui House, Frasers Property has formed a 51:49 joint venture for the redevelopment of the site. The existing Robertson Walk and Fraser Place Robertson will continue to be operated by the Frasers Property Group until May 31, 2025.…

Two sites along Henderson Road and Scotts Road have recently been awarded tenders by the Singapore Land Authority (SLA). One site is at 98 Henderson Road and the other is a trio of colonial-era bungalows at 31, 31A, and 33 Scotts Road. The former will be developed into a senior co-living accommodation in partnership with Crawfurd Silver Care, while the latter will be managed by Heritage At Scotts, a company curating and managing select F&B brands in Singapore.

The tender for the Henderson Road site was awarded to a joint venture (JV) between dormitory and accommodation provider TS Group and co-living operator The Assembly Place (TAP). Their winning bid of $102,888 per month (pm) was 25.5% higher than the next highest bid. The tender included an initial four-year lease with the option to extend for a second three-year term. SLA launched the price-quality tender in June, inviting proposals for rejuvenating the state-owned properties into senior co-living spaces. The tender closed in August with six bids.

Meanwhile, Heritage At Scotts was the sole bidder for the trio of bungalows at Scotts Road. Their bid of $50,000 pm was accepted for a five-year tenure, with the option to extend for another four years. The bungalows, sitting on a 36,670 sq ft plot, will be used for a creative lifestyle concept, such as experiential retail, F&B, wellness, or beauty concepts. SLA and the Singapore Tourism Board collaborated on this tender, looking for a concept that would enhance the area.

In Singapore, skyscrapers and modern structures dominate the cityscape, creating a bustling urban environment. Among these, one can find condos situated in prime locations, offering a combination of opulence and convenience that appeals to both locals and foreigners. These lavish residences are equipped with a range of top-notch facilities, including pools, fitness centers, and security services, elevating the overall standard of living and making them a highly sought-after option for potential tenants and buyers alike. For investors, these alluring features translate into attractive rental yields and steady appreciation of property values over time. Additionally, the recent influx of New Condo Launches only adds to the appeal and potential of these luxurious properties.

SLA also mentioned that they are currently exploring the adaptive reuse of other state-owned properties, including a potential site comprising a cluster of heritage bungalows at Admiralty, for differentiated co-living environments. The bungalows at 31, 31A, and 33 Scotts Road will be integrated into Heritage At Scotts’ existing lifestyle offerings at 27, 29, 35, and 35A Scotts Road. The compound will include a dedicated walkway and landscaped social spaces to enhance the overall experience for visitors.…

Rewriting:

When it comes to making investments, purchasing a condo in Singapore has emerged as a top choice for both local and foreign investors. This is largely due to the country’s strong economy, stable political climate, and excellent quality of life. Singapore’s real estate market presents a multitude of opportunities, and condos are particularly attractive for their convenience, amenities, and potential for significant profits. In this article, we will delve into the advantages, factors to consider, and necessary steps when investing in a condo in Singapore through Condo.

CBRE has recently announced the appointment of Hugh Macdonald as the new head of capital advisors for Asia Pacific (Apac). With over twenty years of experience in the banking industry, Macdonald brings a wealth of knowledge in investment banking, as well as the real estate, gaming, leisure, and lodging sectors. He joins CBRE from Deutsche Bank, where he held the position of head of investment banking coverage and advisory for Australia and New Zealand.

Reporting to Leo van den Thillart, global head of investment banking, and Greg Hyland, head of capital markets, Apac, Macdonald will be based in Singapore and will start his role in Sydney before relocating in 1Q2025. This appointment adds to CBRE’s strong leadership team in the region.

In related news, Knight Frank also recently welcomed Virginia Huang as the new managing director for north and east China. This move is in line with the company’s expansion plans and commitment to delivering exceptional service to clients in the region. With Huang’s extensive experience and expertise in the real estate industry, Knight Frank is poised for continued growth and success in China.…