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Investing in condos in Singapore requires careful consideration of the government’s property cooling measures. Throughout the years, the Singaporean government has implemented numerous measures to control speculative purchasing and maintain a steady real estate market. One of these measures is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign investors and individuals buying multiple properties. While these measures may negatively affect the short-term profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a more secure environment for condo investments. Condo investors should take these measures into account when considering their investment options.
Frasers Property Singapore is offering the retail podium of Sky Eden@Bedok, its mixed-use development in Bedok, for sale through an expression of interest (EOI) exercise. The guide price for the podium is $45.2 million.
The retail podium, situated on the ground floor, comprises 12 strata retail units with a total strata area of approximately 11,193 sq ft. This translates to a guide price of $4,038 psf. These retail units can be purchased collectively, individually, or in clusters, according to the marketing agent CBRE. The units range in size from 398 sq ft to 1,313 sq ft and are priced from $1.91 million to $5.55 million. All units are approved for F&B use.
Sky Eden@Bedok is currently under construction and is located in Bedok Central. The 99-year leasehold development consists of 158 residential units spread across two 16-storey towers on a retail podium. It is conveniently located within walking distance to the Bedok Integrated Transport Hub, which includes Bedok MRT Station and a bus interchange connected to Bedok Mall.
The project was launched in September 2022, making it the first private residential launch in Bedok Town Centre in 10 years. All residential units have been fully sold since then. The development is expected to obtain its temporary occupation permit in the fourth quarter of 2025.
Michael Tay, CBRE’s head of capital markets for Singapore, says that the strata retail units at Sky Eden@Bedok are the first private commercial properties available for sale in Bedok Town Centre. He also mentions that CBRE expects the asset to be attractive to a wide range of investors, including boutique real estate funds, family offices, high net worth individuals, and F&B owner-occupiers looking to enter the commercial space of a tightly held residential enclave.
The EOI for the retail podium will close on April 3 at 3pm. Interested parties can check out the latest listings for Sky Eden@bedok properties and access information such as 2 bedroom floor plans, site plans, and diagrammatic charts. Additionally, they can also view condo sale transactions in District 16, projects that have recently obtained TOP, and the total number of units in Sky Eden@bedok.