Category: Uncategorized

Frasers Property Singapore is offering investors a rare opportunity to own a piece of its mixed-use development, Sky Eden@Bedok. The retail podium, comprising 12 strata units on the ground floor, is now up for sale via an expression of interest (EOI) exercise. With a guide price of $45.2 million, the combined strata area of approximately 11,193 sq ft translates to a desirable price of $4,038 psf.

According to marketing agent CBRE, the retail units can be acquired as a portfolio, individually, or in clusters. These units range from 398 sq ft to 1,313 sq ft, and are attractively priced from $1.91 million to $5.55 million. All units are approved for F&B use, making them an attractive investment opportunity.

Sky Eden@Bedok, located in Bedok Central, is currently under construction and is expected to obtain its temporary occupation permit in 4Q2025. The 99-year leasehold development comprises 158 residential units spread across two 16-storey towers above the retail podium. It is strategically situated just a few minutes’ walk from the Bedok Integrated Transport Hub, which includes Bedok MRT Station and a bus interchange connected to Bedok Mall.

The development was launched in September 2022, marking the first private residential launch in Bedok Town Centre in the last decade. Since then, all residential units have been fully sold. Michael Tay, CBRE’s head of capital markets for Singapore, believes that the strata retail units at Sky Eden@Bedok will be highly sought after. He states, “Given the asset’s palatable quantum, CBRE is confident that it will appeal to a wide range of investors, including boutique real estate funds, family offices, high net worth individuals, and F&B owner-occupiers who would want to break into the commercial space of a tightly held residential enclave.”

Interested parties can submit their bids for the retail podium until April 3 at 3pm. Sky Eden@Bedok properties can be found on various online platforms, including EdgeProp’s ‘Ask Buddy’, where the latest listings and transaction prices can be found. The website also offers a view of the site plan and diagrammatic chart for Sky Eden@Bedok. Other useful resources for potential investors include the transaction prices for condos in District 16, projects that have recently obtained TOP, and the total number of units in Sky Eden@Bedok.…

Sales volume of HDB resale flats in Q1 2021 up 27.4% compared to Q1 2020

HDB to Spend $407 Million on Upgrading Works for Over 29,000 Flats

In a recent press release on Feb 16, the Housing and Development Board (HDB) announced that more than 29,000 flats have been selected for the latest round of the Home Improvement Programme (HIP). This will see a budget of over $407 million allocated for the upgrading works.

The selected flats are located in various areas such as Bedok, Bukit Batok, Bukit Merah, Bukit Panjang, Chua Chu Kang, Hougang, Jurong West, Pasir Ris, Queenstown, Sengkang, Tampines, Toa Payoh, and Woodlands.

The HIP was first introduced in 2007 to assist flat owners in addressing common maintenance issues that arise due to wear and tear in older flats. Since its inception, a total of 494,000 flats or nine in 10 eligible flats have been selected for the programme, with close to 381,000 flats undergoing upgrades, according to Minister for National Development Desmond Lee.

Under the programme, selected flats will undergo essential improvements to ensure the basic safety needs of residents, such as repairing spalling concrete and ceiling leakages caused by wear and tear. These essential improvements are fully funded by the government for households with Singaporean citizens. Flat owners can also opt for optional improvements, which include upgrades to existing bathrooms and toilets, a new entrance door and grille gate, and a new refuse chute hopper. These optional improvements are subsidised by the government, with Singapore citizen households paying as low as 5% of the cost, depending on the flat type.

Since 2012, the Enhancement for Active Seniors (Ease) programme has been offered as part of the HIP. Under Ease, flat owners can opt to install senior-friendly fittings such as grab bars, ramps, and slip-resistant treatment for toilet and bathroom tiles. The government will cover up to 95% of the costs for households with Singaporean citizens.

Since their launches, the government has allocated approximately $4 billion to the HIP and around $150 million to Ease as of March 31, 2014, according to HDB. Those interested in purchasing HDB properties can check out the latest listings or consult Ask Buddy for past HDB sale transactions and rental transactions, as well as comparisons between HDB loan and bank loan rates. Shoppers can also compare the price trends of HDB, condominiums, and landed properties.…

for sale.A prime restaurant unit at Bukit Timah Plaza mall is now up for sale. The 3,391 sq ft strata-titled space, approved for restaurant use, has been listed at a discounted price of $9.8 million ($2,890 psf). This reflects a 12% discount from the previous listing price of $11 million in the third quarter of 2022, according to Clemence Lee, CBRE’s executive director of capital markets, who is responsible for marketing the property.

Located in the basement two of the mall, the unit boasts a 20m frontage facing the central plaza. Currently fully leased and to be sold within its existing tenancy, the unit comes with a 99-year lease from 1976, giving it a remaining lease of 50 years.

The pricing of the unit falls in line with the last two transactions for units in basement two: a 441 sq ft unit that sold for $1.43 million ($3,240 psf) in March 2024 and an 850 sq ft unit that fetched $2,5 million ($2,940 psf), based on caveats lodged.

Bukit Timah Plaza, a mixed-use development that was completed in 1979, comprises a four-storey retail mall and two apartment blocks with 269 residential units at Sherwood Towers. It is known for housing one of the largest Fairprice Finest supermarkets in Singapore, spanning over 44,000 sq ft, says CBRE.

Conveniently located at 1 Jalan Anak Bukit, the mall is within walking distance of both Beauty World MRT Station and King Albert Park MRT Station on the Downtown Line. It is also surrounded by numerous private residential developments, with an estimated population of around 37,000.

The mall is also in close proximity to several educational institutions, such as the Singapore Institute of Technology (SIT), Singapore Institute of Management (SIM), Ngee Ann Polytechnic, Methodist Girls’ School, and Pei Hwa Presbyterian Primary School.

Bukit Timah Plaza is part of the Beauty World area, which is currently undergoing a rejuvenation with the addition of new mixed-use, integrated developments. This includes the upcoming The Reserve Residences and the redevelopment of the former Bukit Timah Market and Food Centre, expected to be completed by late 2029.

The unit is now available for sale through expression of interest. Interested buyers can check out the latest listings for Bukit Timah Plaza and Sherwood Towers properties for sale.…

Two adjoining strata retail units at prestigious Peninsula Plaza are now available for purchase at a price of $10.9 million. These two units, with a 999-year leasehold and situated on the ground floor, boast a prime location along North Bridge Road.

The first unit has a strata area of 538 sq ft while the second has 581 sq ft, bringing the total to 1,119 sq ft. Based on this total area, the asking price of $10.9 million translates to $9,741 psf. These units are currently tenanted until 2026, providing investors with a gross rental yield of 3%.

According to Nick Chan, the associate director of investment sales & capital markets at Savills Singapore who is handling the sale, these two units have the best street frontage within the development and benefit from consistent foot traffic daily. The last transaction of a ground-floor unit in this building was in August 2022, when a 452 sq ft unit was sold for $4.08 million ($9,025 psf).

Completed in 1980, Peninsula Plaza is a 30-storey mixed-use commercial building with a six-storey retail podium and a 24-storey office tower. It boasts prominent frontages along North Bridge Road, Coleman Street and Coleman Lane, and has a sheltered link to City Hall MRT Interchange Station for the North-South and East-West lines.

Since the Urban Redevelopment Authority (URA) implemented restrictions on the strata subdivision of commercial properties in the CBD and Orchard corridors in March 2022, strata-titled units with a 999-year or freehold tenure have become highly sought-after. With its impressive location and leasehold tenure, Peninsula Plaza is an attractive investment opportunity for buyers. Don’t miss this chance to add this coveted property to your portfolio.…

Brand New Land had a vision to merge Good Class Bungalow (GCB) features with affordable luxury semi-detached homes. To bring their idea to life, they enlisted the help of Pau Loh, managing director of Tellus Design, a well-known name in the GCB design industry with whom they have a 30-year history.

Together, they created a collection of four semi-detached homes in Bukit Timah and Upper Bukit Timah, each carefully designed with elements inspired by the best GCB homes. The homes at 23 and 23A Maple Avenue boast a spacious frontage of more than 24 meters. Aptly named “The Great Trees Collection”, the homes at 25 and 25A Jalan Selanting and 23 and 23A Maple Avenue draw inspiration from nature’s beauty. Ranging in size from 2,790 to 3,130 square feet, each home is equipped with a lift, swimming pool, and provisions for a gourmet kitchen.

True to their mission of creating value for their clients, Brand New Land has priced the homes within the bank valuation range, leaving room for potential gains for buyers.

Design Elements Borrowed from GCBs

Taking cues from large bungalow homes, the semi-detached homes feature dedicated zones for various functions such as receiving guests, dining, gourmet cooking, and entertainment. This allows for intimate gatherings and privacy within the same space.

The entrance hall at 23 Maple Avenue offers a view of the pool and greenery, while 25 Jalan Selanting has private corners for intimate conversations. The second-floor view of 23 Maple Avenue seamlessly connects with the first floor while maintaining a sense of privacy between living zones. The sky terrace at 25 Jalan Selanting provides a stunning view of the Bukit Timah Nature Reserve and serves as an ideal entertainment area.

Ceremonial Entrances

Brand New Land believes in the experience of coming home and has incorporated this feeling into their homes. Each semi-detached home has a ceremonial entrance framed by lush greenery, the sound of water, and rich facade materials that create a transition from the outside world to the comfort of home.

Luxurious Architecture and Materials

The homes feature Loh’s signature style, which has proven successful in GCBs within Singapore’s tropical climate. With wide overhanging eaves and deep recesses, the homes offer shelter and keep the interiors cool. The use of horizontal design elements, such as the wraparound golden sand facade and horizontal planters, adds a touch of luxury to the spacious homes.

The elegant wraparound golden sand facade at 25 Jalan Selanting anchors timber-effect screens, creating a beautiful play of shadows. The generous use of nature-inspired cladding elements adds a sense of quiet luxury to 23 Maple Avenue. The homes also boast a rich palette of wood-grain finishes, precious marble, and German bath fittings, creating an environment of sophistication and luxury.

Collaboration with Arclinea Singapore

For gourmet kitchen experiences, Brand New Land has partnered with luxury kitchen specialist Arclinea Singapore. Both brands share the goal of inspiring connections in exceptional kitchen spaces. With a predominately GCB clientele, Arclinea brings a unique touch to the kitchens at 25 Jalan Selanting and 23 and 23A Maple Avenue.

“Our vision for this collection is to bring the best GCB design principles into our semi-detached homes,” says Alvina. “We are fortunate to collaborate with Pau Loh, a skilled and experienced architect who helped make this possible. We look forward to seeing the impact these homes will have on the lives of those who live in them.”

To view these homes, call 8893 7602. For more information on upcoming launches, visit www.brandnewland.com.sg or follow Brand New Land on Instagram, Facebook, YouTube, and LinkedIn. If you are interested in working with the group or have land with potential for redevelopment, please email: comehome@brandnewland.com.sg.…

A 99-year leasehold HDB shophouse at 214 Serangoon Avenue 4 will be up for auction at SRI’s upcoming auction on Feb 26. The property, which includes living quarters on the second floor, has a total floor area of approximately 1,668 sq ft. It has been listed for sale with a guide price of $1.98 million, equivalent to $1,187 psf on the floor area.

Previously offered for sale at the last auction, the shophouse did not find a buyer at a higher guide price of $2.08 million. According to Jansen Kee, SRI’s assistant manager of auctions, the shophouse is strategically located in front of a bus stop, making it highly visible from the road.

At present, the property is tenanted and is generating a gross rental yield of around 6.2% based on the guide price, says Kee. He adds that the new owner will benefit from the existing lease, which ends in 2026, providing them with immediate rental income.

Kee also notes that the guide price for the HDB shophouse is one of the most attractive in the area, making it an appealing opportunity for both investors and owner-occupiers.

Based on URA records, the most recent commercial shophouse transaction in Serangoon was the sale of a 999-year leasehold shophouse on Lichfield Road. The property, which spans an area of 2,319 sq ft, was sold for $4 million ($1,725 psf) in November 2024.

The shophouse up for auction is situated within a cluster of HDB flats, bordering the Serangoon Gardens landed residential estate. It is located directly across the road from Serangoon Swimming Complex and Serangoon Sports Centre, ensuring a consistent flow of foot traffic. Carpark spaces are available at the rear of the shophouse.…

Huttons Asia, the marketing agent for 3 Orchard By-The-Park, has listed a four-bedroom duplex apartment for sale through an expression of interest exercise (EOI). The guide price for this unit, which is located in the freehold luxury condo, is $15.8 million.

Measuring over 3,800 sq ft, the unit is priced at around $4,158 psf. It boasts a 4m high ceiling and a private lift, and three of the four bedrooms have their own ensuite bathrooms. The unit was extensively renovated three years ago with a cost of more than $700,000, according to Huttons.

Completed in 2017, 3 Orchard By-The-Park is a luxurious development situated on Orchard Boulevard. It comprises three 25-storey towers with a total of 77 units. The units range from two to four bedrooms, with sizes of 1,066 sq ft to 3,800 sq ft. There are also penthouses available, ranging from 6,555 sq ft to 6,900 sq ft. The development, designed by Italian architect Antonia Citterio, is located near the popular Orchard Road shopping belt. It is also in close proximity to reputable schools such as Anglo-Chinese School (Junior), Anglo-Chinese School (Primary), ISS International School (Elementary & Middle School Campus), and Singapore Chinese Girls’ School (Primary). Additionally, the Orchard Boulevard MRT Station (Thomson-East Coast Line) is just a short distance away.

The EOI for the four-bedroom duplex apartment will close on March 5 at 4pm. For more information, check out the latest listings for 3 Orchard By-The-Park and other condominium properties. You can also see the price trend chart for 3 Orchard By-The-Park, compare the price trends between new sale and resale condos, find out the rental yield for 3 Orchard By-The-Park and view a list of the most expensive condos based on average PSF in District 10.…

According to Huttons Asia, the shophouse market in 2024 has been relatively quiet, recording only 84 caveated transactions. This is below the average of 200 shophouse deals per year between 1995 and 2023.

Senior director of data analytics at Huttons Asia, Lee Sze Teck, notes that many buyers did not lodge a caveat, making 2024 potentially the year with the lowest number of shophouse deals since 1998.

The total value of the 84 caveated transactions in 2024 was $683.6 million, a 38.9% decrease from the $1.1 billion recorded in 2023. However, Lee explains that this does not include several significant deals for shophouses on Amoy Street, Neil Road, North Bridge Road, and Telok Ayer Street, which he estimates were sold for over $200 million.

The largest shophouse deal in 2024 was The Rail Mall, a strip mall with 43 shop units on Upper Bukit Timah Road, which was sold by Paragon REIT for $78.5 million in June. Lee remarks that this is likely the biggest shophouse deal on record, surpassing the previous high of $74.8 million paid for a row of shophouses on Jalan Sultan in March 2022.

The shophouses at The Rail Mall were valued at $62 million in December 2023, resulting in an estimated gain of $16.5 million for the seller. Most of the shophouse transactions in 2024 were for lower quantities, with over half valued between $5 million and $15 million.

District 8 saw the highest number of shophouse deals in 2024, possibly due to its attractive location on the city fringe and lower prices compared to Districts 1 and 2.

Meanwhile, shophouse rents in Singapore have decreased for the second consecutive quarter, falling 2.6% quarter-on-quarter to $6.47 psf per month in the fourth quarter of 2024. However, for the entire year, shophouse rents increased by 1.7%.

Conservation shophouses on Telok Ayer Street are currently on sale for $42 million, adding to the selection of shophouses available in the market.…

CBRE’s Singapore Market Outlook 2025 report, released on January 23, predicts that the real estate market may experience divergent outcomes in the next 12 months due to an uncertain macroeconomic outlook. On one hand, easing inflation and interest rates are expected to provide some relief to the property market. However, Moray Armstrong, managing director and advisory services at CBRE, warns that slowing economic growth in 2025 could negatively impact property demand. The Ministry of Trade and Industry is projecting Singapore’s GDP growth to be between 1% and 3% in 2025, lower than the 4% growth recorded in 2024.

Armstrong also notes that other factors such as ongoing geopolitical tensions, the US’s new nationalistic economic agenda, and the URA Master Plan 2025, which is set to be released in the middle of the year, could potentially affect the market in the near term. Despite these mixed signals, there are still opportunities in the real estate market for those who can capitalize on emerging trends, he adds.

Tricia Song, CBRE’s head of research for Singapore and Southeast Asia, remains optimistic and believes the property market is still supported by limited new supply and stable demand levels. She predicts that despite uncertainties, the Singapore real estate market will continue to show its stability and resilience, making it a popular choice for investors from all over the world.

The report also highlights the private residential market, which saw a threefold increase in developer sales volume to 3,511 units in the last quarter of 2024. This rebound from record lows in the first nine months of the year was accompanied by a 2.3% increase in prices, the highest quarterly growth in 2024. While some speculated that this could lead to new cooling measures, CBRE believes this is unlikely to happen unless prices surge in the coming quarters.

In light of improved sentiment, developers are expected to launch new projects, with an estimated 12,000 to 14,000 units potentially being launched this year – nearly double the 6,647 units launched in 2024. This could result in 7,000 to 8,000 new homes being sold in 2025, an increase from the 6,469 units sold in 2024. CBRE expects prices to grow by 3% to 6% in 2025, continuing the 3.9% growth seen in 2024. Meanwhile, rental rates are predicted to increase between 1% and 3% this year.

In the office property market, rentals in the Core CBD (Grade A) segment grew by just 0.4% in 2024, a slowdown from the 1.7% growth in 2023 due to global economic uncertainties, rising fit-out costs, and hybrid work arrangements. With economic growth expected to slow in 2025, CBRE projects that office leasing activities will remain muted as uncertainties dampen expansionary demand. However, limited new supply in the next three years, with only 0.58 million sq ft expected to be completed annually between 2025 and 2027, may keep vacancy rates low. As a result, the firm predicts a 2% increase in Core CBD (Grade A) office rentals in 2025, in line with GDP projections.

Limited supply is also expected to support retail property rents, with only 0.5 million sq ft of new retail space expected to be completed in 2025, a 40.4% decrease from 2024 and well below the 10-year historical average. CBRE adds that leasing sentiment for retail property remains positive, supported by inbound tourism and a robust pipeline of entertainment and other events. Therefore, the firm forecasts 2% to 3% growth in average retail prime rents in 2025, recovering to pre-pandemic levels.

In contrast, prime logistics rents have been consolidating due to subdued expansion demand by occupiers in 2024, recording only a 1.1% increase to $1.87 psf per month. A bumper supply of almost 5 million sq ft of warehouse space is expected to be completed this year, but at least 60% has already been pre-committed, which CBRE says should prevent a significant drop in occupancy rates. The firm predicts that prime logistics rents will remain relatively flat in 2025.

In terms of investment sales, CBRE expects real estate investment volume in Singapore to continue growing in 2025, following a 28% year-on-year increase in 2024 to $28.62 billion. This was driven by investor sentiment and appetite, bolstered by interest rate cuts. The firm anticipates this trend to persist in 2025, with the majority of investors expecting to purchase the same or more in Singapore real estate compared to 2024, according to its latest Asia Pacific Investor Intentions Survey. However, given ongoing economic and geopolitical uncertainties, CBRE believes investors will be selective in the near term, choosing to allocate capital into sectors or strategies with a more favorable outlook. The firm predicts a 10% year-on-year growth in investment volumes in 2025, barring any significant shocks. The industrial and logistics sector remains the most preferred among investors, followed by residential assets and office properties, according to the survey.…

The most unprofitable transaction taking place recently was at Marina Bay Suites, where a 1,625 sq ft unit, on the 58th floor, incurred a loss of $1.15 million. (Picture: Samuel Isaac Chua/) The most profitable resale transaction in the period between Jan 14 to 28 was that of a three-bedroom unit at Palm Spring, which sold for a record-breaking price of $4.4 million ($2,336 psf) on Jan 20, according to data from caveats lodged. This marks a significant increase from its purchase price of $1.21 million ($642 psf) back in August 2005. The seller earned a remarkable profit of $3.19 million (264%) on the sale, equivalent to an annualised profit of 6.8% over the past 20 years. This transaction also sets a new record for being the most profitable resale deal at Palm Spring to date, surpassing the previous record profit of $2.56 million (185%) earned when a 1,970 sq ft unit on the first floor was sold for $3.94 million ($2,000 psf) in April 2023. The previous owner had bought the unit for $1.38 million ($701 psf) in January 2003. According to a compilation of resale transactions by EdgeProp Singapore, prices at Palm Spring have seen a steady increase over the past two decades. In January 2021, the average transacted price at the condominium was approximately $2,342 psf, up from around $1,439 psf in January 2015. This marks a significant jump from the average sale price of only $973 psf back in January 2005.AdvertisementAdvertisementLast year, there were two resale transactions at Palm Spring. The first was a 947 sq ft unit that sold for $2.19 million ($2,312 psf) in September, resulting in a significant profit of $990,000. The other was a 1,496 sq ft unit that changed hands for $3.36 million ($2,246 psf) in October, earning its seller a profit of $2.24 million. Additionally, Palm Spring is a freehold condominium located on Ewe Boon Road in prime District 10 and was completed back in 1997, making it 24 years old. Its proximity to Stevens MRT Interchange on the Downtown (DTL) and Thomson-East Coast Lines, as well as Newton MRT Interchange on the North-South Line and DTL, makes it highly desirable and convenient for residents. In comparison to its neighbouring 99-year leasehold condominium, the 192-unit luxury condo Cuscaden Reserve, which was completed in 2023, the average price at Palm Spring is around $3,043 psf. The second most profitable resale transaction in the same period was the sale of a four-bedroom unit at Orchard Bel Air, earning its seller a profit of $3 million (182%). It was sold on Jan 15 for $4.65 million ($1,440 psf), in contrast to its purchase price of $1.65 million ($511 psf) back in May 2001. This translates to an annualised profit of 4.5% over the course of 24 years. The highest recorded profit at Orchard Bel Air to date is from the sale of a 6,512 sq ft penthouse unit on the 25th floor, which sold for $8.3 million ($1,275 psf) in January 2013. The previous owner had acquired it for $3.83 million ($588 psf) in March 2006. The only other 99-year leasehold condominium in the vicinity is the neighbouring Cuscaden Reserve, which has an average transacted price of around $3,043 psf, according to transaction data.Orchard Bel Air is situated on Orchard Boulevard in prime District 10 and is a 99-year leasehold condo that was completed in 1984. The condo currently has around 54 years left on its land tenure. An adjacent government land sale (GLS) site on Orchard Boulevard was awarded to a UOL-SingLand joint venture last February at a price of $428.28 million, or a land rate of $1,617 psf per plot ratio (ppr).On the other hand, the most unprofitable transaction during the period in review was at Marina Bay Suites, where the seller of a 1,625 sq ft unit on the 58th floor incurred a loss of $1.15 million (27%) when it was sold on Jan 24. The unit was sold for $3.1 million ($1,907 psf) after originally being purchased for $4.25 million ($2,614 psf) back in May 2012. As a result, the seller experienced an annualised loss of 27% over the period of 13 years. The sale is the latest in a string of unprofitable deals at Marina Bay Suites, with 14 consecutive loss-making transactions in the past nine months, ranging in losses of $40,000 to $2.5 million per sale.AdvertisementMarina Bay Suites is a 99-year leasehold condo that sits among six towers as a part of the mixed-use development known as Marina Bay Financial Centre, located between Central Boulevard and Marina Boulevard. On the 66-story residential tower, there are a mix of three- and four-bedroom units. Making an average price comparison with other nearby 99-year leasehold condominiums, units at The Sail @ Marina Bay sell for around $2,047 psf, Marina Bay Residences at $2,242 psf, Marina One at $2,103 psf, and V on Shenton at $2,027 psf.…