Month: January 2025

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When considering purchasing a condo, it is important to not only focus on the initial cost, but also to carefully assess the maintenance and management aspects of the property. Condos typically have maintenance fees that cover the expenses of maintaining common spaces and amenities. While these fees may increase the overall cost of ownership, they play a vital role in preserving the condition and value of the property. For investors, utilizing the services of a property management company, such as those offered by Singapore Condos, can be extremely beneficial as they handle day-to-day management tasks, allowing for a more hands-off investment experience. Therefore, in order to have a successful and hassle-free investment, it is essential to take into account these critical considerations when investing in a Singapore Condo from Singapore Condo.

In a recent development, CapitaLand Ascott Trust (CLAS) has announced the successful acquisition of two freehold limited-service hotels in Japan for a total of JPY21 billion ($178.5 million). The two hotels, namely, ibis Styles Tokyo Ginza in the country’s capital and Chisun Budget Kanazawa Ekimae in Kanazawa, were secured at a discounted rate of 8.3% below their independent valuation.

With a projected completion in 2024, the acquisition is expected to add a distribution per stapled security (DPS) accretion of 1.6% on a FY2024 pro forma basis. Furthermore, the blended net operating income (NOI) yield for the two hotels stands at a promising 4.3% in FY2024. The acquisition was efficiently funded through a combination of JPY-denominated debt and proceeds from the divestment of four properties previously owned by CLAS in Japan, aligning with the company’s strategy to mitigate currency fluctuations.

The ibis Styles Tokyo Ginza hotel is situated in the bustling shopping and entertainment district of the capital city. With 224 well-appointed units, the hotel is conveniently located near popular attractions such as Ginza Six, a high-end retail mall, and the famous Uniqlo flagship store. Guests can also easily access the iconic Ginza Wako clock tower within a short 10-minute walk.

Meanwhile, the 392-unit Chisun Budget Kanazawa Ekimae is located in Kanazawa, a city in the northwest of Japan renowned for its rich cultural heritage and traditional gardens. Similar to Kyoto, the city boasts tourist hotspots such as Kanazawa Castle, Kenrokuen Garden, and historic geisha and samurai districts, making it an ideal location for leisure and business travelers alike.

The recent acquisitions of ibis Styles Tokyo Ginza and Chisun Budget Kanazawa Ekimae mark a total investment value of approximately $530 million for CLAS in the past 12 months. These purchases offer higher yields compared to the four properties divested, consequently boosting the company’s income distribution.

Other notable acquisitions by CLAS in 2024 include the Teriha Ocean Stage, a rental housing property in Fukuoka, Japan, and the complete acquisition of the Standard at Columbia, a student accommodation property in the United States. In addition, CLAS also completed the purchase of the lyf Funan Singapore in December 2024. On the divestment front, the company successfully sold properties worth over $500 million in 2024, generating a net gain of approximately $74 million.

Serena Teo, CEO of CLAS’ manager, expressed her satisfaction with the recent acquisition, stating that it aligns with the company’s portfolio reconstitution strategy to enhance the quality of its assets and deliver consistent returns to its Stapled Securityholders. She further added, “The FY2024 NOI yield for the two hotels is 230 basis points higher than the blended exit yield of approximately 2.0% for the four previous divestments in Japan. By swiftly reinvesting the proceeds from these divestments into higher-yielding assets, we have effectively replaced the income from the four properties that were sold.”

As of now, CapitaLand Ascott Trust’s unit price stands at a healthy 90 cents per unit.…

Mapletree Investments has expanded its logistics portfolio in the UK and Spain with the acquisition of its first logistics property in the UK and 10 warehouses in Spain. The total value of these acquisitions is approximately EUR315.1 million ($444.5 million).

These acquisitions, which consist of 256,000 sqm of space, will be included in the seed assets of Mapletree’s second European logistics-focused fund. According to a press release by Mapletree on January 27, this move reflects the company’s strategy to deepen its focus in the logistics sector and expand its global presence. The fund will be launched at an appropriate time after achieving sufficient scale.

Mapletree’s European commercial and logistics arm CEO, Ralph van der Beek, explains that the logistics sector remains highly attractive and has consistently seen strong demand from both occupiers and investors. With the thriving e-commerce industry, companies are actively looking to secure and expand their supply chains. He adds that the company looks forward to the stable and recurring returns that these assets will bring in the long run.

The UK property is located in Derby Commercial Park, with easy access to major arterial roads such as M1, A50, and A6. It is also close to the city center and the East Midlands Airport. The tenant at this property has recently renewed a long-term lease.

The 10 assets in Spain are located in key logistics hubs in the first rings of Barcelona, Valencia, and Madrid. They offer immediate access to the city centers through various transportation modes. These assets are expected to benefit from the commitment of third-party logistics providers and manufacturers, who have their production facilities nearby and have invested in automation and fit-outs on site.

With these acquisitions, Mapletree now has 80 logistics assets in eight countries.

Investing in condos in Singapore carries with it significant considerations, such as the government’s property cooling measures. Over the years, the Singaporean government has implemented various measures to regulate speculative buying and maintain a steady real estate market. One example is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While this may affect the immediate profitability of condo investments, it ultimately contributes to the long-term stability of the market, creating a secure investment environment for buyers. In addition, new condo launches should also be taken into account when considering condo investments in Singapore.…

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When contemplating an investment in a Singapore Condo, it is crucial to also evaluate its potential rental yield. Rental yield refers to the annual rental income expressed as a percentage of the property’s purchase price. In Singapore, rental yields for condos can vary significantly based on factors such as location, property condition, and market demand. Generally, areas in high demand for rentals, such as those near business districts or educational institutions, offer more attractive rental yields. To gain a better understanding of a specific condo’s rental potential, it is advisable to conduct thorough market research and seek guidance from real estate agents.

Luxury living at its finest awaits at Turquoise, a 91-unit condo located at the prestigious Sentosa Cove waterfront. Now, three exclusive duplex penthouses are available for sale at the luxurious price tag of $23 million each.

The largest penthouse on offer spans an impressive 7,987 sq ft and boasts five spacious bedrooms. It is also the largest penthouse out of the 10 in the whole development, making it a truly coveted property. Priced at $12 million (equivalent to $1,502 psf), this duplex penthouse features a wine cellar, a state-of-the-art kitchen and living area, four en suite bedrooms, two utility rooms, and a balcony on the lower level. The upper level is home to the luxurious master bedroom suite, complete with a private infinity pool, a pool deck, and an outdoor shower.

Following close behind is the second-largest penthouse, covering 3,746 sq ft and featuring four bedrooms. This grand unit is currently listed for sale at $5.99 million (or $1,599 psf). The upper floor of this penthouse boasts a large open-air terrace equipped with a built-in Jacuzzi, offering breathtaking views of Sandy Island and Sentosa’s southern waterfront.

Last but not least, the third penthouse up for sale is a lavish 3,111 sq ft unit with three bedrooms. With a guide price of $5 million ($1,607 psf), it presents a fantastic opportunity for luxury living in Sentosa Cove. All three penthouses are located on the sixth floor, providing residents with utmost privacy and exclusivity. Each unit also features private lift lobbies, wet and dry kitchens, floor-to-ceiling windows, open balconies, and en suite bathrooms in every bedroom.

Apart from the lavish penthouses, Turquoise offers a range of exquisite amenities for its residents, including a gym, barbeque pits, a swimming pool, a steam room, and 21 private berths for homeowners. Developed by renowned developer Ho Bee Land, this 99-year leasehold condo was completed in 2010 and is home to 91 luxurious units spread across three 6-storey blocks. The typical units feature a mix of three- and four-bedroom apartments, ranging from 2,088 sq ft to 3,050 sq ft. There are also penthouses ranging from 3,111 sq ft to 3,764 sq ft and sky villas spanning from 6,900 sq ft to 7,987 sq ft.

Interestingly, the developer still owns the largest penthouse in Turquoise, which is currently on the market for a staggering $12 million. According to URA caveats, the second-largest penthouse was bought by a Korean national for approximately $9.5 million ($2,545 psf) back in November 2007, when Turquoise was first launched. The three-bedroom duplex penthouse was purchased by an African national for just over $8 million ($2,579 psf) in December 2007.

Given the prime location and top-notch facilities offered by Turquoise, it was initially popular among foreign buyers, who saw it as a lucrative investment and a holiday home. However, the recent trend has seen a shift towards more owner-occupiers, who are increasingly drawn to the serene and luxurious lifestyle offered at Sentosa Cove. This is reflected in the current buyer profile at Turquoise, with Singaporeans making up the majority of resale buyers at 57.4%, followed by PRs at 32.3%, and foreign buyers at 8.8%.

Despite the softening of prices following the 2008 Global Financial Crisis, Turquoise still boasts impressive rental yields. For instance, the four-bedroom penthouse, which is currently leased out, commands a rental rate of $18,000 per month, equivalent to a gross rental yield of 3.6% based on its listing price of $5.99 million.

In conclusion, Turquoise is a prime example of luxury living at its best, offering unparalleled facilities and a premium waterfront location. Its unique waterfront lifestyle, paired with Singapore’s status as a safe haven amidst global uncertainties, make it a highly sought-after property that should not be missed.…

The Botanic on Lloyd, a freehold condominium, has reached a new price peak of $2,460 psf, setting a new record among private non-landed developments. This new record was achieved between January 3 and January 11, when a four-bedroom unit on the second floor measuring 2,056 sq ft was sold for $5.13 million, or $2,493 psf.

When investing in Singapore, it is crucial for foreign investors to be familiar with the regulations and limitations surrounding property ownership. While foreigners are typically able to buy condominiums without many obstacles, ownership of landed properties is subject to more stringent rules. Furthermore, foreign buyers are required to pay Additional Buyer’s Stamp Duty (ABSD) of 20% for their initial property purchase. However, despite these extra expenses, the stability and potential for growth in the Singapore real estate market continue to draw in foreign investments. With a plethora of new condo launches available, there are ample opportunities for foreign investors to make a profitable investment in Singapore’s property market.

This new record price surpassed the previous high of $2,339 psf by 6.6%. The former record was set in October last year when a three-bedroom unit measuring 1,496 sq ft on the fourth floor was sold for $3.5 million.

The Botanic on Lloyd is a boutique development completed in 2006, located along Lloyd Road in Prime District 9. It comprises of 60 apartments and six townhouses, with a mix of three- and four-bedroom units ranging from 1,485 sq ft to 3,584 sq ft. The townhouses, which have five bedrooms and two private parking lots each, range from 4,058 sq ft to 4,446 sq ft.

Fellow freehold development, The Cape, also achieved the second-highest psf-price among condos that recorded a new price high during the same period. A three-bedroom unit measuring 1,313 sq ft on the 15th floor fetched a new record of $2,284 psf when it sold for $3 million on January 10. This broke the previous record of $2,265 psf set in November 2012 when a two-bedroom unit measuring 1,539 sq ft was sold for $3.49 million.

The average price of apartments at The Cape has been on an upward trend in the past year, with three resale transactions at an average price of $2,128 psf in 2023. Only one unit was sold in 2022, a one-bedroom unit measuring 646 sq ft that sold for $1.24 million ($1,920 psf).

Another upcoming development, Tembusu Grand, recorded a new price low of $2,174 psf on January 11 when a three-bedroom unit measuring 1,399 sq ft was sold for $3.04 million. The previous record low of $2,193 psf was set in November 2024 when a similar unit was sold for $3.07 million.

Located on Jalan Tembusu in Prime District 15, Tembusu Grand consists of 638 units ranging from one- to four-bedroom apartments measuring 527 sq ft to 1,604 sq ft, as well as five-bedroom units measuring 1,711 sq ft to 2,691 sq ft. As of January 20, 584 units (91.5%) have been sold at an average price of $2,444 psf.…

HDB Resale Prices Record 19th Consecutive Quarter of Growth

In the fourth quarter of 2024, HDB resale prices saw an increase of 2.6%, marking the 19th consecutive quarter of growth in the resale market, according to data published by HDB on January 24. This brings the overall price increase for 2024 to 9.7%, nearly double the 4.9% increase recorded in 2023.

The rise in resale prices in the last quarter of 2024 was slightly lower than the 2.7% increase recorded in the third quarter. According to Mohan Sandrasegeran, head of research & data analytics at SRI, the strong growth in resale prices throughout 2024 can be attributed to the limited supply of flats reaching their Minimum Occupation Period (MOP) during the year.

The tight supply of flats created upward pressure on prices, especially as buyers showed a strong interest in newer and larger flat types, such as five-room and executive units, which cater to growing family needs,” he says.

Among the various flat types, five-room flats saw the highest resale price growth in the last quarter of 2024, with an average price increase of 2.2% to $754,097. Meanwhile, four-room flat prices increased by 2.2% to $652,544 in the same period.

The Central Area saw the highest price increase, growing by 25.6% from the previous quarter, followed by Toa Payoh at 12.1%, Tampines at 6.9%, Bishan at 6.7%, and Bedok at 6.1%. A total of 285 HDB resale flats were sold for $1 million or more in the last three months of 2024, bringing the total number of million-dollar transactions in 2024 to 1,035.

It is imperative for international investors to have a thorough understanding of the rules and limitations surrounding property ownership in Singapore. In contrast to landed properties, which have stricter ownership regulations, foreigners generally face less hurdles when purchasing condos. However, it is crucial for foreign buyers to be familiar with the Additional Buyer’s Stamp Duty (ABSD) of 20% for their first property acquisition. Despite this, the dependability and potential for growth in the Singapore real estate market continues to attract foreign investors, leading to a rise in investment in new condo launches. These developments, such as New Condo Launches, present promising opportunities for investors in the Singapore property market.

More than 90% of these transactions occurred in mature estates, with Kallang/Whampoa having the highest number of million-dollar flats sold at 156 units, followed by Toa Payoh at 144 units and Bukit Merah at 135 units.

The volume of resale transactions decreased by 21.1% from 8,142 units in the third quarter of 2024 to 6,424 units in the fourth quarter. This was due to seasonal factors such as the year-end holiday and festive season, according to Lee Sze Teck, senior director of data analytics at Huttons Asia. He added that the lower interest rate environment may have also encouraged some buyers to move to the private residential market or the Executive Condominium (EC) market.

In anticipation of the next Build-to-Order (BTO) sales exercise, which took place in October, some prospective buyers may have also opted to ballot for a flat, says SRI’s Sandrasegeran. This BTO sales exercise saw HDB launching a record 15 projects comprising 8,573 flats under the new location-based classification framework. It also allowed singles to buy two-room flexi BTO flats in all locations for the first time.

Despite the decrease in the fourth quarter of 2024, the overall resale transaction volume for 2024 increased by 8.4% from 26,735 units sold in 2023 to 28,986 units sold in 2024. This is the highest number of yearly resale transactions since 2021, when 31,017 flats were sold.

In 2024, Sengkang, Woodlands, Punggol, Tampines, and Yishun were the top five most popular HDB towns among buyers, accounting for around 35.9% of all HDB resales. The number of newly MOP flats entering the market in 2025 is expected to decrease by 41.6% from the previous year, with only 6,976 flats reaching the end of their MOP. This is due to the low number of BTO flats completed in 2020 during the Covid-19 pandemic.

In response, HDB has announced plans to launch over 25,000 new flats across three BTO sales exercises in 2025, including 19,600 BTO flats and more than 5,500 flats under the Sale of Balance Flats (SBF) exercise. The upcoming SBF exercise, to be held in February, will offer 5,000 BTO flats in Kallang/Whampoa, Queenstown, Woodlands, and Yishun. This will be the largest SBF exercise held by HDB since November 2020, when 5,220 units were made available. Approximately 4 out of 10 of the 5,500 SBF flats to be offered are already completed.

The increase in public housing supply aims to address the growing demand for housing, according to Sandrasegeran. He adds that SBF flats are particularly appealing to home seekers who value the option of acquiring a brand-new, ready-to-move-in flat with a shorter waiting time compared to the typical BTO process.

Moreover, about 3,800 units of the 19,600 BTO flats planned for launch in 2025 will be designated as Shorter Waiting Time (SWT) flats, offering wait times of less than three years. Sandrasegeran forecasts a 3.5% to 5.5% increase in resale prices in the HDB market for 2025, with resale transaction volume ranging between 26,000 and 27,000. However, Huttons’ Lee projects a more optimistic price increase of between 5% and 8% for the year.…

A freehold housing development site along Jalan Naung has been listed for sale through an expression of interest (EOI) with a price tag of $8.38 million.

Strategically situated in District 19, the 999-year leasehold land spans across a generous 5,408 square feet and falls under a residential zoning according to the URA Master Plan 2019. With a three-storey mixed-landed area in place, the land offers a variety of possibilities for potential developers.

Brilliance Capital, the exclusive marketer for the property, shares that the land has the potential to be transformed into a detached house, a pair of semi-detached houses, or a strata mixed-landed development, subject to necessary approvals from the relevant authorities. The asking price translates to $1,550 per square foot (psf) on the land area.

Located off Upper Serangoon Road, the land is well connected and within walking distance to Hougang MRT Station and Hougang Central Bus Interchange. Popular lifestyle destinations such as NEX, Hougang Mall, and Heartland Mall are also a short 10-minute drive away.

Before investing in a condo, it is important to carefully consider various factors, with one of the most crucial being the maintenance and management of the property. Unlike houses, condos typically have maintenance fees that cover the upkeep of shared spaces and amenities. While these fees may add to the overall cost of owning a condo, they ultimately contribute to maintaining the property’s condition and value. This is why it is advisable to seek out a reputable property management company, such as Singapore Projects, to handle the management of your condo. Doing so can provide investors with a more hands-off and hassle-free experience. When evaluating potential Singapore projects for investment, it is essential to take into account the maintenance and management aspects in order to make a well-informed decision.

The site is surrounded by reputable schools, with CHIJ Our Lady of the Nativity, Holy Innocents’ Primary School, Montfort Junior School, and Punggol Primary School located within a 1km radius.

According to Brilliance Capital, the land is owned by a single seller, streamlining the acquisition process and ensuring a hassle-free transaction for interested buyers.

Brilliance Capital’s founder and executive director, Sammi Lim, anticipates strong interest from a diverse pool of developers, ranging from boutique firms to larger establishments, aspiring developers, and end-users looking to build their dream home.

Lim also highlights the rarity of such a versatile land parcel in the market, offering a range of options and permutations for development to cater to different needs and preferences, including multi-generation development.

The EOI exercise for this highly sought-after land parcel will close on March 6 at 3pm.…

An EOI has been launched for the sale of a residential development site at Jalan Naung, which has a listed asking price of $8.38 million.

The land, which has a 999-year leasehold and a total area of 5,408 sq ft, is zoned for residential use within a three-storey mixed-landed area under the URA Master Plan 2019. This translates to a price of $1,550 psf on the land area.

The site, located in District 19 off Upper Serangoon Road, has been put up for sale by Brilliance Capital, the sole marketing agent for the land. According to the agency, the land has the potential to be developed into a detached house, a pair of semi-detached houses, or a strata mixed-landed development, subject to approvals from the relevant authorities.

The strategic location of the site is another factor that is expected to attract strong interest from developers. It is within walking distance of Hougang MRT Station and Hougang Central Bus Interchange, as well as popular lifestyle hubs such as NEX, Hougang Mall, and Heartland Mall which are all just a 10-minute drive away.

Additionally, the land also boasts a highly coveted address as it is situated within a 1km radius of reputable schools such as CHIJ Our Lady of the Nativity, Holy Innocents’ Primary School, Montfort Junior School, and Punggol Primary School.

The vacant plot of land is currently owned by a single seller, which will likely streamline the acquisition process and ensure a smooth and hassle-free transaction for potential buyers.

Sammi Lim, the founder and executive director of Brilliance Capital, anticipates strong interest from a diverse range of potential buyers, including boutique firms, larger developers, aspiring developers, and end-users looking to build their dream home.

Lim adds that it is a rare opportunity for a plot of land with various development options and configurations to be made available for sale, providing the flexibility to cater to different needs and preferences, including multi-generational living.

In order for international investors to navigate the property market in Singapore, it is crucial to have a clear understanding of the regulations and limitations that govern property ownership. While foreigners are usually able to buy condominiums with relative ease, owning landed properties entails stricter rules. Moreover, foreign buyers are also required to pay the Additional Buyer’s Stamp Duty (ABSD), which is currently set at 20% for their first property purchase. Despite these additional expenses, the stability and potential for growth offered by the Singapore real estate market continue to attract foreign investment. This is evident in the increasing interest in Singapore Projects among international investors.

The EOI exercise for the residential development site will close on March 6 at 3pm.…

The newly opened Radisson Collection Resort in Galle, Sri Lanka, marks the brand’s debut in the Southeast Asia and Pacific region. Managed by the Radisson Hotel Group, this luxury seafront property features 106 rooms, making it the group’s fourth hotel in Sri Lanka.

All of the 76 guest rooms and suites at the resort offer stunning views of the ocean. Guests can indulge in a range of amenities including a beachfront pool, a kids’ club with round-the-clock nanny services, and several dining options such as Ozen, a fusion restaurant with an Asian-Japanese twist, and Catch Restaurant, known for its delectable seafood offerings. For those looking to relax and unwind, the Taboo Beach Club is the perfect spot with its beachfront entertainment area complete with sun loungers and daybeds that come with bottle service.

Galle, located on Sri Lanka’s southwest coast, is a popular tourist destination known for its historic attractions and natural beauty. With its well-preserved 17th-century fortress, Galle Fort, a Unesco World Heritage site, this city offers visitors a glimpse into the country’s rich cultural past. Other must-visit places in Galle include the city’s ancient temples, colonial buildings, and wildlife centres, such as a sea turtle hatchery.

Singapore has become a sought-after destination for investors, both local and foreign, when it comes to purchasing a condo. This can be attributed to the country’s strong economy, political stability, and excellent quality of life. The real estate market in Singapore presents a plethora of opportunities, with condos being a popular choice due to their convenience, amenities, and potential for lucrative returns. When it comes to investing in a condo in Singapore, there are several benefits to consider, relevant considerations to keep in mind, and necessary steps to take. To learn more about the various condo projects in Singapore, visit Singapore Projects.

In other news, Teardrop Hotels, a Sri Lankan hotelier, has recently launched luxury villa rentals in Galle, providing visitors with even more options for an unforgettable stay in this charming city. Additionally, Radisson Hotel Group has announced the opening of its milestone 100th hotel in India, and has expanded its presence in China with a new resort in Lonavala. These developments further strengthen the group’s position as one of the leading hospitality brands in the world.…

A recent press release announced that Singapore-based engineering consulting firm, Meinhardt, has established a memorandum of understanding (MOU) with Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development (JOIN). The MOU is aimed at jointly exploring and delivering digital and smart city projects in third-world Asean countries.

Through this collaboration, Meinhardt and JOIN will work together to advance innovative and sustainable urban solutions through the exchange of knowledge and resources. The MOU will see JOIN utilizing its extensive network and expertise in supporting Japanese infrastructure exports, while Meinhardt will bring its leadership in integrated planning, design, and project management solutions, according to the group.

JOIN is a Japanese public-private fund that helps Japanese companies invest in overseas infrastructure projects. The partnership with Meinhardt comes on the heels of the Memorandum of Cooperation (MOC) signed between Japan’s Ministry of Land, Infrastructure, Transport and Tourism of Japan and the Singapore Cooperation Enterprise in November of last year. The MOC was established to support the development of digital and smart cities in Asean and other regions.

Building on the MOC framework, Meinhardt plans to utilize the MOU as a platform for both parties to exchange information, identify synergies, and collaborate on projects from the early stages. This will allow for meaningful impact to be made across borders and contribute to the continued development of digital and smart cities in Asean and beyond.

Singapore Condo investment is a significant consideration for many individuals in Singapore. However, one crucial factor that must be taken into account is the Singaporean government’s property cooling measures. In recent years, the government has implemented various measures to control speculative buying and maintain a stable real estate market. These measures, such as the Additional Buyer’s Stamp Duty (ABSD), impose higher taxes on foreign buyers and those purchasing multiple properties. While these measures may have an impact on the short-term profitability of condo investments, they also contribute to the long-term stability of the market. This ultimately creates a safer investment environment for individuals looking to invest in a Singapore Condo.…

The two BTO projects, Punggol Point Cove (Phase 2) and Kempas Residences, have been completed by HDB after facing delays caused by the pandemic, announced Minister for National Development Desmond Lee on Jan 20. These two projects mark the completion of the remaining delayed projects from HDB.According to the release on Jan 20, a total of 92 housing projects have been delayed by the pandemic and have been completed over the last five years. These projects have delivered more than 75,000 new flats to Singaporeans. In 2024, 22 housing projects were completed by HDB, out of which 17 were delayed due to the pandemic. The remaining four projects were completed on time, except for one which faced a delay due to non-pandemic related reasons.AdvertisementThe 22 completed projects included two Shorter Waiting Time (SWT) projects which took less than three years to complete. These projects, Parc Glen at Tengah and Grove Spring at Yishun, had a total of 1,995 flats. The remaining projects had a waiting time of up to five years. In total, more than 18,000 flats were completed in 2024, as per HDB’s report.The flat owners of Punggol Point Cove (Phase 2) have been receiving their keys since November 2024, while the key collection for Kempas Residences began in mid-January this year. HDB is expected to inform the remaining flat owners about their key collection dates shortly, as the final blocks of both the projects have been completed this month.Located along New Punggol Road, Punggol Point Cove (Phase 2) comprises 1,179 units of two-room flexi, three-, four- and five-room flats across six residential blocks. Due to pandemic delays, the last block of this project was completed 12 months later than the original Probable Completion Date (PCD), earlier this month. As of Jan 15, 657 households or 59% of the 1,109 booked units have collected their keys, according to HDB.AdvertisementHDB states that the completion of Punggol Point Cove (Phase 2) marks the completion of all the flats in the Punggol Point District. This includes Punggol Point Cove (Phase 1), Punggol Point Woods, and Punggol Point Crown BTO projects, which were all completed in 2024.Situated between Serangoon Road, Lavender Street, and Boon Kheng Road, Kempas Residences BTO project features 583 units of two-room flexi, three-, four-room flats across four residential blocks. The final block, which faced a delay of six months from its original PCD, was completed in mid-January. As of Jan 15, 37 households or about 7% of the 555 booked units have collected their keys.Currently, there are 110 HDB housing projects under construction, an increase from 95 a year ago, due to the rise in BTO supply in recent years. HDB has expressed that it is on track to complete about 17,000 flats across 27 projects in 2025. To find out more about available HDB properties, you can use the BuddyShow me HDB listings in PunggolAny HDB rental listings in Punggol?Price trend chart for Kempas ResidencesListings for HDB flatsHDB loan vs Bank loanFor more information on HDB properties, visit the BuddyShow me HDB listings in PunggolAny HDB rental listings in Punggol?Price trend chart for Kempas ResidencesListings for HDB flatsHDB loan vs Bank loan.

Purchasing a Singapore condo offers numerous benefits, one of which is the potential for capital appreciation. Due to its position as a major global business hub and its robust economic foundations, Singapore has a continuously high demand for real estate. Over time, property values in the country have consistently risen, with considerable appreciation seen in condos located in prime areas. By making a timely investment and holding onto the property for an extended period, investors can expect to gain substantial capital gains. Additionally, Singapore Condo adds to the overall appeal of the market.…