Dyslexic Condo Press

The highly-anticipated launch of Emerald of Katong resulted in remarkable sales figures over the launch weekend. Developer Sim Lian Group reported that out of the 846 units available, 835 units were sold within the first two days, with an impressive 98.7% take-up rate. The project’s VIP sales on November 15th saw 401 units (47%) taken up, followed by another 434 units on November 16th. The average selling price for units sold over the weekend was recorded at $2,621 psf. The developer declined to comment on its sales.

Mark Yip, CEO of Huttons Asia, noted that the project could potentially break the record for the most number of units sold in a single day, surpassing J’Gateway’s record of 738 units sold in June 2013. Only 11 units remain available at Emerald of Katong, consisting of nine one-bedroom and two five-bedroom units. All two-, three-, and four-bedroom units have been sold out. Yip added that buyers showed preference towards the larger units with study or flexible layouts, indicating that they were purchasing for owner-occupation and needed the additional space for their lifestyle needs.

For interested buyers, the latest details on available units and prices for Emerald of Katong can be obtained from the advertisements. According to real estate agents, the top-selling project of 2024 is none other than Emerald of Katong, with an unprecedented number of units sold and a high percentage sold during the launch weekend. The high demand for the 99-year leasehold project, located at Jalan Tembusu in District 15, was particularly notable as it coincided with the launch of two other projects on the same weekend.

Nava Grove, a 99-year leasehold development by MCL Land and Sinarmas Land, reportedly sold 359 units on November 16th, representing 65% of its total units. On the same day, Novo Place, a 504-unit executive condominium (EC) at Plantation Close in Tengah, by joint developers Hoi Hup Realty and Sunway Developments, also achieved a high sales rate of 57%. These three projects concluded an unprecedented six new residential projects (including the EC project) launched over the past two weeks.

Ismail Gafoor, CEO of PropNex, commented that they were initially concerned that launching six projects within 14 days might result in some projects being overshadowed by others. However, with a total of 3,551 units on offer, homebuyers had the opportunity to visit all the developments before choosing their preferred one. He added that having many options in a short span seemed to help buyers make decisions more quickly and that the interest might not have been as intense if the launches were spread over two months. He also noted that it helped that Kingsford Group moved forward the launch of Chuan Park to November 10th from November 16th. Gafoor explained that those who were initially interested in Chuan Park but couldn’t secure a unit there had the opportunity to consider Emerald of Katong. If the two projects had been launched on the same weekend, prospective buyers might have been torn between them. By bringing forward Chuan Park’s launch, both projects benefited.

The buying frenzy wasn’t limited to just Emerald of Katong. Nava Grove achieved a sales rate of 65% on its launch day, recording an average selling price of $2,448 psf. As for Chuan Park, it sold 696 units (76% of its total units) on the same day, with an average selling price of $2,579 psf. Despite the overwhelming response, the developer of Emerald of Katong did not raise their selling prices from the initial price list, which reassured buyers and their agents that they still had an opportunity to secure a unit at the same price, even if their queue number was as high as 3,000.

According to caveats lodged, District 15 is among the top districts to reside in Singapore, said Huttons’ Yip. The attractive East Coast lifestyle and limited number of large projects have attracted buyers to Emerald of Katong. In comparison to other new projects in the Rest of Central Region, with a median price of $2,955 psf, Emerald of Katong’s starting price from $2,423 psf is considered very attractive.

ERA Singapore CEO Marcus Chu also shared the same sentiment and added that buyers who were unable to secure a unit at Emerald of Katong turned to other major condo projects in the vicinity, such as the three projects launched last year: the 1,008-unit, 99-year leasehold Grand Dunman; the 638-unit, 99-year leasehold Tembusu Grand; and the 816-unit, freehold The Continuum. All three projects reported good sales on Saturday, according to Huttons’ Yip. From November 11th to 16th, The Continuum registered 22 new sales, Tembusu Grand saw 12 units sold, and Grand Dunman recorded five new sales.

Huttons’ Yip attributed the strong sales momentum to better economic growth and lower interest rates, which have attracted more buyers to the new homes market. He added that lower returns from other investment assets may have encouraged more buyers to consider property as a preferred investment.

Investing in a condominium in Singapore offers a multitude of advantages, and one of the key benefits is the potential for capital appreciation. As a leading global business hub with a robust economy, Singapore consistently experiences a high demand for real estate, making it an appealing investment opportunity. The property market in Singapore has consistently shown an upward trend in prices, especially for condominiums situated in prime areas, resulting in significant appreciation for property owners. By strategically timing their investments and holding onto their properties for extended periods, investors can enjoy significant capital gains. Staying updated on the latest New Condo Launches is crucial to staying competitive and ahead in the market. Don’t miss out on new opportunities by visiting New Condo Launches.

Huttons estimates that developers’ sales in November will reach up to 2,200 units, approaching the levels recorded in March 2013 when 2,793 units were sold. According to on-the-ground observations, there is a growing number of prospective local and foreign buyers utilising trust structures to acquire homes for their children, said Yip. He added that investing in residential property may serve as a form of wealth planning and preservation, reflecting the rise in wealth among local buyers and an influx of overseas funds into Singapore. Figures from the Monetary Authority of Singapore (MAS) show that the number of single-family offices grew to 1,650 as of August 2024, an increase of 250 from the end of 2023. During the same period, the M1 money supply, which includes cash, demand deposits, and other liquid deposits, rose by $10.2 billion in the first nine months of 2024.…

Executive condo sales more than double to 1,065 units in Q3 compared to Q2 on pent-up demand from April to JuneBy Asa

Sales bookings for the 504-unit Novo Place began on November 16, jointly developed by Hoi Hup Realty and Sunway Developments. According to Mark Yip, CEO of Huttons Asia, the executive condo (EC) sold 286 units, which accounts for 57% of the total units, at an average price of $1,654 per square foot (psf). Yip described the strong take-up rate as a reflection of robust demand from buyers seeking an affordable private residential lifestyle. However, due to the 30% quota for second-time buyers, the take-up rate could have been even higher. Yip suggests that the government should consider increasing the quota for second-time buyers as the balloting for them in one month is likely to see strong demand.

The split between first-time and second-time buyers was 47% and 53%, respectively. According to Ismail Gafoor, CEO of PropNex, the 30% quota set aside for second-time buyers at Novo Place was fully taken up by 1 pm on launch day. However, he notes that second-time buyers will have another opportunity to purchase units at Novo Place when the quota is lifted 30 days later, allowing them to make bookings starting from December 16.

Out of the total 287 units sold, 76% of buyers opted for the deferred payment scheme while 24% chose the normal payment scheme, according to Huttons. The ECs are the only housing segment that offers homebuyers the option of a deferred payment scheme, which allows them to lock in their preferred unit first and service the loan later. Yip says that this scheme eases the financial burden of HDB upgraders who still have an outstanding loan on their flat.

HDB upgraders who purchase a new EC are granted upfront remission on the Additional Buyer’s Stamp Duty (ABSD). This means that they can continue to stay in their existing flat and sell it within six months of collecting the keys to their new EC unit. Located in Tengah’s Plantation district, Novo Place is within walking distance of the upcoming Tengah Park MRT Station on the future Jurong Regional Line, expected to be completed by 2028.

This EC project comprises seven 18-storey residential blocks with a unit mix of three-to four-bedroom plus-study units. The three-bedroom plus-study units are 97% sold, while the four-bedroom units are fully sold. The four-bedroom plus-study units are more than half sold. According to Yip, the sales results are in line with demand from HDB upgraders who want a bigger space and greater flexibility in terms of space use.

Novo Place is the second EC project to be launched this year, with the first being the 512-unit Lumina Grand at Bukit Batok West Avenue 5 by City Developments Ltd in January. It is currently 84% sold at an average price of $1,510 psf. According to Eugene Lim, key executive officer of ERA Singapore, current EC buyers are already well-positioned for future EC launches that are expected to be priced higher due to rising land and construction costs.

Last 10 transactions at Lumina Grand

Source: EdgeProp Buddy

Check out the latest listings for Novo Place properties

Ask Buddy

Generate price trend graph for new launch condo in District 24

Any condo rental listings in District 24?

Show me condo listings in District 24

Condo sale transactions in District 24

Compare price trend of New sale condo vs Resale condo

Generate price trend graph for new launch condo in District 24

When it comes to investing in a condo, financing is a crucial factor to consider. Singapore has various mortgage choices available, but it is crucial to understand the Total Debt Servicing Ratio (TDSR) framework. This framework restricts the amount of loan a borrower can take based on their income and current debt obligations. As such, it is vital for investors to be aware of the TDSR and seek guidance from financial advisors or mortgage brokers. By doing so, they can make informed decisions about their financing options and prevent over-leveraging. Keep in mind that staying informed about financing is key, especially when considering new condo launches.

Any condo rental listings in District 24?

Show me condo listings in District 24

Condo sale transactions in District 24

Compare price trend of New sale condo vs Resale condo…

.

Investing in a Singapore condo is a significant venture that requires careful financial planning, particularly when it comes to securing financing. While there are various mortgage options available, it is crucial to note the Total Debt Servicing Ratio (TDSR) framework. This framework sets a cap on the amount of loan an individual can borrow, taking into account their income and existing debt obligations. Being well-informed about the TDSR and seeking advice from financial experts or mortgage brokers can aid investors in making wise financing decisions and preventing excessive borrowing. If you are considering investing in a Singapore condo, it is important to understand and navigate the TDSR framework and seek professional advice to ensure a successful and sustainable investment. Singapore Condo financing requires careful consideration and planning to avoid over-leveraging and achieve long-term financial stability.

The Real Estate Developers’ Association of Singapore (REDAS) recently marked its 65th anniversary. In his welcome speech at the anniversary dinner held at the Marina Bay Sands ballroom on Nov 15, REDAS President Tan Swee Yiow noted that turning 65 may mean receiving CPF retirement payouts for some members. The guest of honour at the event was President of Singapore Tharman Shanmugaratnam.

Established in 1959, REDAS was originally known as the Singapore Land and Housing Developers’ Association, six years before Singapore gained independence. Its founders were visionary developers who played a crucial role in shaping the nation’s real estate landscape. One of these pioneers was the late Lee Kim Tah, the founding chairman of the Lee Kim Tah Group. Starting as a materials supplier to the British army in the 1920s, the family business later transitioned into a contractor and developer responsible for many of Singapore’s iconic buildings. Another was Lee Chin Chuan, who founded Hotel Royal in 1968 and served as its executive chairman and director until his passing in 2018. A third pioneer, Tay Beng Swee, established his property development business in 1962.

According to Tan, these pioneers helped lay the foundation for Singapore’s growth. He added that real estate is central to nation-building as it not only shapes the physical landscape but also drives social progress and creates jobs. Last year, the real estate industry contributed nearly $20 billion to Singapore’s GDP, employed 16% of the workforce, and provided 602,000 jobs.

From early skyscrapers to iconic projects such as Golden Mile Complex, OCBC Centre, Raffles City, The Fullerton Hotel, and South Beach, the real estate industry has consistently shaped Singapore’s skyline to meet the city’s growing needs. Tan also noted that developments like Marina Bay and Jewel Changi Airport are prime examples of how the industry has helped Singapore become a global financial hub and top destination.

He further stated that real estate has evolved beyond physical space, with landmark eco-friendly designs and world record-breaking green spaces gaining international recognition and setting new standards while reinforcing Singapore’s commitment to responsible and forward-thinking development.

At the anniversary dinner, City Developments Ltd (CDL) Group General Manager Chia Ngiang Hong received the REDAS Lifetime Achievement Award. This award honors individuals who have made lasting contributions to the community, environment, and REDAS.

In his acceptance speech, Chia, who has dedicated 45 years to CDL, recalled being asked how he managed to “survive” at the company. He credited the founder, the late Kwek Hong Png; the current executive chairman, Kwek Leng Beng; and the group CEO, Sherman Kwek, who have inspired and shaped his career with their passion for real estate and entrepreneurial spirit. Kwek Leng Beng, a patron of REDAS, invited him to join the association during the mid-1980s, when the Pan-El crisis was ongoing. Chia later alternated serving on the REDAS Council with his late deputy chairman, Kwek Leng Joo, for over 30 years. He also mentioned REDAS’s pivotal role in providing constructive feedback to the government on private sector policies and serving as a steadfast advocate for the real estate industry.

Chia also served as REDAS president for two terms, from 2019 to 2020 and 2021 to 2022, during the challenging Covid-19 period. He noted that the industry faced insurmountable challenges during this time, but they “sprang into action,” joining various committees alongside government agencies to guide the sector through the confusion and chaos. While the period was tough, Chia found it rewarding to work closely with stakeholders and the government. He believes the future holds boundless potential and that the next generation will uphold the values that have guided REDAS and continue to lead Singapore’s transformation and growth with purpose.…

.

Rewritten:

Investing in a condominium has numerous advantages, including the potential for leveraging the property’s value for future investments. This offers investors the opportunity to use their condos as collateral and secure additional financing for new ventures, thereby diversifying their real estate portfolio. However, this approach also carries some risks, making it essential to have a solid financial plan in place and carefully assess the potential effects of market fluctuations. New Condo Launches can be a valuable addition to this investment strategy.

The Real Estate Developers’ Association of Singapore (REDAS) commemorated its 65th anniversary two days ago. At the anniversary dinner held on Nov 15 in the Marina Bay Sands ballroom, REDAS President Tan Swee Yiow welcomed guests by stating how turning 65 signifies receiving CPF retirement payouts for some. The honourable guest at the event was President of Singapore Tharman Shanmugaratnam.

Originally known as the Singapore Land and Housing Developers’ Association, REDAS was established in 1959, six years before Singapore gained independence. Its founders were farsighted developers who played a pivotal role in shaping the nation’s real estate scene. Among these trailblazers was the late Lee Kim Tah, the founding chairman of the prominent Lee Kim Tah Group. His family business originally started as a materials supplier to the British army in the 1920s, before transitioning into a contractor and developer responsible for many iconic buildings in Singapore. Another pioneer was Lee Chin Chuan, who founded Hotel Royal in 1968. He served as the executive chairman and director of the listed hotel group until his passing in 2018. The third pioneer, Tay Beng Swee, was a private property developer who established his business in 1962.

According to Tan, these pioneers laid a strong foundation for Singapore’s growth. The real estate industry is central to nation-building as it shapes the physical landscape, drives social progress and provides job opportunities. Tan also mentioned that in the previous year, the real estate industry contributed nearly $20 billion to Singapore’s GDP and employed 16% of the workforce, providing 602,000 jobs. Over the years, the industry has consistently shaped Singapore’s skyline to cater to the city’s growing needs, with iconic projects like Golden Mile Complex, OCBC Centre, Raffles City, The Fullerton Hotel and South Beach. Tan also highlighted the evolution of the real estate industry from merely providing physical space to creating landmark eco-friendly designs and impressive green spaces that have received international recognition, setting new standards and reinforcing Singapore’s commitment to responsible and forward-thinking development.

This year, REDAS presented the Lifetime Achievement Award to Chia Ngiang Hong, the Group General Manager of City Developments Ltd (CDL). The award celebrates individuals who have made significant contributions to the community, environment and REDAS. In his acceptance speech, Chia, who has devoted 45 years to CDL, humbly joked that many have inquired about his secret to ‘surviving’ at CDL. He also expressed his gratitude towards the three generations of the Kwek family, including the founder, the late Kwek Hong Png, the current executive chairman, Kwek Leng Beng and the group CEO, Sherman Kwek, who have immensely inspired and shaped his career with their passion for real estate and entrepreneurial spirit.

Chia revealed that it was Kwek Leng Beng, a patron of REDAS, who invited him to join the association in the mid-1980s during the Pan-El crisis. He served on the REDAS Council for more than 30 years, alternating with his late deputy chairman, Kwek Leng Joo. Throughout the decades, REDAS has been crucial in providing valuable feedback to the government on private sector policies and has been a constant advocate for the real estate industry. Chia also served as REDAS president for two terms during the challenging Covid-19 period, from 2019 to 2020 and 2021 to 2022. He reflected on the insurmountable challenges the industry faced and how they sprang into action by joining various committees with government agencies to guide the sector through confusion and chaos. Although the period was tough, Chia found it rewarding to collaborate closely with stakeholders and the government. He believes that the future holds limitless possibilities, and the next generation will carry on the values that have guided REDAS in leading Singapore’s transformation and growth with purpose.…

In summary, the prospects of investing in a condo in Singapore are highly promising, offering a multitude of benefits such as strong demand, potential for appreciating value, and appealing rental yields. However, it is crucial to carefully assess various factors including the location, financing options, government regulations, and market conditions. Through thorough research and seeking expert guidance, investors can make well-informed decisions and maximize their returns in Singapore’s dynamic real estate market. Whether you are a local investor seeking to diversify your portfolio or an overseas buyer searching for a stable and profitable investment, condos in Singapore are an enticing option. With the added advantage of Condo, this investment opportunity becomes even more compelling.

Tuan Sing Holdings, a property developer and investment company listed in Singapore, has announced its plans to reconstruct its mixed-use properties at 121-131 Collins Street and 23-25 George Parade in Melbourne.

The company’s wholly-owned subsidiary, Grand Hotel Group (GHG), has appointed Hong Kong-based urban design firm Urbis Ltd to submit a Town Planning Application to the City of Melbourne for the proposed works. Currently, the properties house the 550-room Grand Hyatt Hotel and various retail spaces.

In the reconstruction, a significant portion of the existing podium structure will be retained, allowing business operations for tenants and the Grand Hyatt Hotel to continue as usual. The focus of the works will be on façade modifications, extensive refurbishment, and reconfiguration of spaces in the property’s podium from levels 4 to 9B, according to Tuan Sing’s announcement on Nov 14.

Upon completion, and subject to regulatory approvals, the site will have approximately 909,550 sq ft in total gross floor area (GFA) and will feature a new luxury retail and F&B precinct.

Tuan Sing’s CEO, William Liem, believes that the podium redevelopment at 123 Collins Street will redefine connectivity and activation at one of the most prominent intersections in Melbourne’s renowned Paris End. He also sees this as an opportunity to make an architectural statement of the company’s environmental stewardship. By reimagining instead of rebuilding, they aim to pursue an inherently sustainable vision that supports a thriving, connected, and culturally vibrant Melbourne for generations to come. So, if you’re looking to invest in overseas properties, explore the available projects for sale around the world.…

In Singapore, a two-storey HDB shophouse located along Bukit Merah Central, will be going up for auction by SRI on November 27. With a floor area of 1,582 square feet, the shophouse is being offered for $2.55 million, or $1,612 per square foot.

This will be the first time the property is being put up for auction, as the current owner intends to sell it in order to liquidate their investment. According to Eric Liew, manager of auction sales at SRI, the property has a remaining lease of 59 years and a tenure of 103 years from 1980.

The shophouse is zoned for commercial use on the ground floor, covering an area of 732 square feet, and residential use on the upper floor, covering 850 square feet. It is fully tenanted and will be sold with its existing tenancies.

.

When it comes to investing in condos in Singapore, there is another important factor to consider – the government’s property cooling measures. In order to maintain a stable real estate market and prevent speculative buying, the Singaporean government has implemented various measures over the years. These measures include 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 short-term profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a safer investment environment for individuals looking to invest in condos through Condo.

Foreigners are eligible to purchase HDB shophouses as they are considered commercial property. However, additional buyer’s stamp duty will be applicable on the residential component, while the commercial component will be subject to goods and services tax.

Liew has received a few enquiries from interested parties, mainly investors who are drawn to the property’s strategic location in the central area of Bukit Merah.

The shophouse is situated within Bukit Merah Town Centre, which offers a range of amenities such as shops, a polyclinic, a food centre, a convention centre, and a performing arts centre. It is also within walking distance to a bus interchange, two primary schools, a secondary school, and a train station.

Based on data from EdgeProp Research, the most recent commercial transaction at 161 Bukit Merah Central was in March 2021, when a shophouse with a floor area of 1,582 square feet was sold for $1.5 million, or $948 per square foot.

In terms of rental rates, the latest figures for Bukit Merah Central show that the average price for commercial properties is at $11.82 per square foot.…

Tuan Sing Holdings, a property developer and investment firm listed in Singapore, has unveiled plans to reconstruct its mixed-use properties at 121-131 Collins Street and 23-25 George Parade in Melbourne. The company’s subsidiary, Grand Hotel Group (GHG), has partnered with Hong Kong-based urban design firm Urbis Ltd to submit a Town Planning Application to the City of Melbourne for the proposed works.

Currently, the properties are home to the 550-room Grand Hyatt Hotel and various retail spaces. In the reconstruction, much of the existing podium structure will be retained, allowing business operations for tenants and the Grand Hyatt Hotel to continue without interruption.

According to Tuan Sing’s announcement on Nov 14, the works will mainly focus on façade modifications, extensive refurbishment, and reconfiguration of spaces in the property’s podium from levels 4 to 9B. Upon completion and subject to regulatory approvals, the site will cover a total gross floor area of approximately 909,550 sq ft and introduce a new luxury retail and F&B precinct.

Tuan Sing’s CEO, William Liem, states, “The podium redevelopment at 123 Collins Street will redefine connectedness and activation at one of the most prominent intersections in Melbourne’s storied Paris End.” He also adds that this transformation can serve as an architectural statement of the company’s environmental stewardship. By opting to reimagine rather than rebuild, Tuan Sing is pursuing a sustainable vision that supports a thriving, connected, and culturally vibrant Melbourne for generations to come.

If you are interested in investing in overseas properties, consider exploring the various projects available for sale around the world.

Due to Singapore’s limited land availability, the demand for condos has skyrocketed in recent years. As a small island country with a rapidly expanding population, Singapore is constantly facing a shortage of land for development. As a result, the government has implemented strict land use policies and the real estate market has become highly competitive, driving property prices to new heights. As a result, investing in real estate, particularly condos, has become a highly lucrative opportunity with the potential for significant capital appreciation.…

From a long-term perspective, Huttons’ Lee expects shophouse prices to remain stable. “Shophouses are relatively price inelastic. This means that while sale volumes may fluctuate, prices will remain stable. For shophouses in good locations, prices are always on a slow and steady upwards trend.”

Huttons Asia’s latest quarterly report on the shophouse market in Singapore revealed that interest in this segment remained strong in 3Q2024 despite a decline in caveated transactions. According to the report published on November 12, there were 18 caveats lodged for shophouse transactions in 3Q2024, compared to 21 in the previous quarter. The total transacted quantum for these caveated shophouses was $138.9 million, which was 28.8% lower than the previous quarter’s figure of $195.1 million. However, the report indicates that this is still a significant amount.

On a year-on-year basis, the total transacted quantum in 3Q2024 was only half of that in 3Q2023, which was $278.6 million. For the first nine months of 2024, the number of caveated shophouse transactions recorded was 62, which is 46.1% lower than the same period last year. The total value of these transactions amounted to $519 million, which is 48.5% lower than the same period in 2023.

Despite the decline in caveated transactions, the report highlights that there were several shophouse deals in 3Q2024 that were not caveated. These include transactions for shophouses located along Amoy Street, Neil Road, and Telok Ayer Street in Districts 1 and 2, which were reportedly sold. According to Lee Sze Teck, senior director of data analytics at Huttons Asia, the estimated quantum for these shophouses exceeds $70 million. This indicates strong demand for shophouses, which has been increasing in the past few months. Lee adds that investors are drawn to this market segment due to its scarcity and potential for strong capital gains. In addition, the recent interest rate cuts have made shophouses more popular as a wealth creation and preservation asset. Lee expects shophouse transactions and quantum to increase in 4Q2024.

Looking at the long-term outlook, Lee believes that shophouse prices will remain stable. He notes that shophouses are relatively price inelastic, which means that while transaction volumes may fluctuate, prices will remain consistent. For shophouses located in good locations, prices are expected to continue on a slow and steady upward trend.

Singapore’s demand for condos continues to thrive, driven by various factors, specifically the scarcity of land. As a small and densely populated island country, Singapore faces the challenge of limited land availability for development. To address this issue, the government has implemented stringent land use policies, leading to a fiercely competitive real estate market. Consequently, property prices have steadily increased, making real estate investment, particularly in Singapore condos, a lucrative option with the potential for substantial capital gains. Singapore Condo is a prime example of this investment opportunity.…

CapitaLand Development (CLD) has received a warm welcome for its two projects in Vietnam, with high take-up rates at their recent previews.

On October 26, the developer began an exclusive preview of Orchard Hill, a 774-unit high-rise development and the second phase of Sycamore, CLD’s development in Binh Duong New City, located 30km from Ho Chi Minh City. Sycamore is a joint venture with United Overseas Australia and consists of 3,500 freehold units spread across low-, mid-, and high-rise developments.

Since the preview, 694 units, or 90% of Orchard Hill, have been booked, with the one- and two-bedroom units being the most popular. The project is expected to be completed by the fourth quarter of 2026.

Condo financing is a crucial aspect of investing in condos that should not be overlooked. In Singapore, there are numerous mortgage options available, but it is important to keep in mind the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the maximum loan amount that a borrower can take based on their income and current debt obligations. Staying well-informed about the TDSR and seeking advice from financial experts or mortgage brokers can help condo investors make informed financing decisions and prevent over-leveraging. Considering Condoinvesting, understanding and carefully managing financing options is crucial for a successful investment journey.

On November 9, CLD held an exclusive preview of The Senique Hanoi, a 2,150-unit high-rise residential project in East Hanoi. The developer reported that the project has already achieved a 92% take-up rate. The Senique Hanoi is a collaboration between CLD, Mitsubishi Estate, and Nomura Real Estate Development, and is slated for completion in 2027.

The strong response for The Senique Hanoi follows the successful launch of the third and final phase of CLD’s Lumi Hanoi residential mega-development in October. During the launch, 678 out of 697 units released for sale were taken up, reflecting a take-up rate of 97%. As a result, the 3,950-unit Lumi Hanoi is now 99% sold.…

CapitaLand Integrated Commercial Trust (CICT) has successfully sold 21 Collyer Quay, a 999-year leasehold office building located in the heart of Raffles Place, for a total consideration of $688 million. The sale was made to a third party that is not affiliated with CICT. The transaction was based on a willing-buyer-willing-seller basis and was in line with the independent valuation of the property carried out by Savills. With a net lettable area of approximately 213,000 sq ft, the price per square foot works out to be $3,230.

Purchasing a condo in Singapore provides various benefits, such as the potential for capital growth. Being a major global business hub with a robust economy, Singapore is a highly sought-after destination for real estate investments. In recent years, the condo market in Singapore has been prospering, especially in prime locations where properties have seen significant appreciation. By making wise investments at the opportune time and holding onto the condo for a considerable period, investors can expect substantial profits, making it a shrewd financial decision to invest in a condo in Singapore.

According to CICT’s manager, the sale price reflects an exit yield of below 3.5%, based on the building’s annualized net property income for the period ended September 30, 2024. The net proceeds from the divestment are expected to be around $681.7 million.

Situated in the Central Business District, 21 Collyer Quay is a 21-storey building that was previously occupied by HSBC before it relocated to Marina Bay Financial Centre Tower 2. In 2021, the space was taken over by co-working operator WeWork, who opened its flagship location at the building in September 2022 after a design and fit-out of the space.

Following WeWork’s filing for bankruptcy in the US in November 2023, the company announced in April this year that it had reached a lease agreement with its Singapore office landlords and plans to continue occupying its current buildings in the city-state for the foreseeable future. CICT’s website also states that WeWork Singapore has a seven-year lease for 21 Collyer Quay until 2028.

With the completion of this divestment, CICT will continue to focus on its core business of owning and managing a diversified portfolio of commercial properties in Singapore. The company has recently announced higher revenue and net property income for the first nine months of the financial year 2024.…