Condo Score

After experiencing two years of losses, the global real estate market saw a positive turn in the second quarter of 2024, indicating a potential recovery. Low interest rates have historically led to soaring real estate values, culminating in a 5.0% quarterly and 17.8% yearly return in the first quarter of 2022. However, the subsequent tightening cycle wiped out these gains, bringing values back to 2018 levels worldwide.

In summary, purchasing a condo in Singapore presents a multitude of benefits, including strong demand, potential for increased value, and attractive rental income. However, it is crucial to carefully evaluate various factors, such as location, financing, government regulations, and market conditions. Through extensive research and seeking expert guidance, investors can make well-informed decisions and capitalize on the dynamic real estate market in Singapore. Whether you are a local looking to diversify your investments or a foreign buyer in search of a stable and profitable venture, Singapore condos offer an enticing opportunity. For more information on available projects in Singapore, visit Singapore Projects.

Despite this correction, we believe that the real estate market is nearing its bottom, making it a favorable time for investors to reconsider this asset class. Real estate has a history of providing stable income returns and diversification benefits over the long term, with the potential for strong returns during recovery periods. For instance, after the recession in the 1990s, investors saw a cumulative return of 76% over the next five years. Similarly, after the tech-wreck and the Global Financial Crisis, the cumulative returns were 98% and 86%, respectively.

In the second quarter of 2024, global real estate values moderated to a 0.74% loss, the lowest quarterly adjustment in the past two years. However, with offsetting income returns of 1.07%, the sector achieved a positive 0.33% return, the first positive quarter since 2022. Of the 15 global markets in the MSCI Global Property Index, a slight majority saw increases in real estate values for the first time in two years. Eight markets, including Japan, South Korea, Singapore, Southern Europe, the Nordics, the Netherlands, France, and the UK, experienced gains from the previous quarter. Additionally, six markets saw losses between 0.3% and 1.5%, with all of them moderating from the first quarter of 2024. Only Australia experienced a larger write-down in the second quarter, aligning its valuations with its global peers.

However, changes in capital values are only one aspect of real estate returns. Historically, the larger component of total returns has been income. This emphasizes the importance of considering both capital and income aspects when evaluating real estate investments.

Total returns, which include both capital and income returns, were positive in 12 of the 15 countries in the MSCI Global Property Index in the second quarter of 2024. They were flat in the US (-0.09%), slightly negative in Ireland (-0.22%), and significantly negative in Australia (-3.07%). However, preliminary data from the NCREIF ODCE index showed positive total returns in the US (0.25%), indicating a potential positive trajectory in the future.

While there are signs of a potential rebound in global real estate investment after two slow years, China and Japan may face challenges. In the third quarter of 2024, they accounted for a significant portion of the $7.5 billion in cross-border inflows in the Asia Pacific region. However, both countries face high debt costs and other factors that may hinder a strong rebound in real estate capital inflows.

China, in particular, has seen a decline in interest from the West due to geopolitical and economic concerns. Despite a recent stimulus package, it is unlikely to see a quick return. The market has also been stagnant due to price dislocation, geopolitical risk, and lack of liquidity. Japan, on the other hand, remains an outlier, with the Bank of Japan raising borrowing rates for the first time since 2007 in an effort to control inflation. This has prevented cap rate compression and potential property price increases.

Despite these challenges, there are still attractive opportunities in the real estate market. For example, the purpose-built student accommodation market in Australia has significant potential due to a housing shortage for students. Additionally, real estate debt in the country offers appealing risk-adjusted returns, with funding gaps in construction and potential for long-term growth in sectors such as logistics and PBSA.

While there may still be bumps in the road, the real estate market is showing signs of improvement, presenting potential opportunities for investors. This asset class offers low correlations to other investments, strong income returns, and the potential for protection against inflation over the long term. With the market nearing its bottom, it may be a strategic time for investors to consider allocating to private real estate. However, as with any investment, research and selectivity are crucial for success, as not all markets and property types will perform equally well.…

During the week of Nov 26 to Dec 3, the most profitable condo resale transaction was recorded at Island View, a freehold condo in Pasir Panjang. The unit, measuring 3,498 sq ft, was sold for $4.8 million ($1,372 psf) on Nov 27. This marks a significant profit for the seller, who purchased the unit in September 2005 for $1.3 million ($372 psf), resulting in a capital gain of 269% or an annualized profit of 14.2% after owning it for almost 19 years.

The transaction on Nov 27 has set a new record for the most profitable deal at Island View, surpassing the previous record of $3.19 million made in February 2022 for the sale of another 3,498 sq ft unit at $5.09 million ($1,455 psf). The seller had acquired the unit in February 2007 for $1.9 million ($543 psf).

Island View is a boutique condo comprising 72 units located on Jalan Mat Jambol, off Pasir Panjang Road in District 5. Completed in 1984, this freehold development consists of low-rise blocks and offers apartments ranging from 3,056 sq ft to 3,538 sq ft. It is conveniently located within walking distance to the Pasir Panjang MRT Station on the Circle Line.

In September 2023, the owners of Island View attempted a collective sale with a guide price of $575 million. However, after receiving no bids during the tender, the condo was relisted for sale in March this year at the same price, but failed to attract a buyer.

Investing in real estate is a decision that requires careful consideration, and one of the most critical factors to keep in mind is location. This is particularly true in Singapore, where the location of a condo can greatly impact its value. Condominiums located in central areas or in close proximity to essential amenities such as schools, shopping malls, and public transportation hubs have a higher potential for appreciation. Some prime locations in Singapore, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown growth in property values. Families, in particular, are drawn to these areas due to their proximity to reputable schools and educational institutions, making condos in these locations highly sought after and thus, a solid investment choice. Additionally, keeping an eye on new condo launches in these prime areas can offer even more opportunities for potential investors.

The second most profitable condo resale transaction during the week was recorded at Cavenagh Court, where a 1,862 sq ft unit on the sixth floor was sold for $3.65 million ($1,960 psf) on Dec 2. The seller, who had purchased the unit in April 2006 for $1.02 million ($548 psf), made a gain of $2.63 million (258%) after almost 19 years of ownership.

This deal has also set a new record profit for a unit at Cavenagh Court, surpassing the previous record of $2.15 million in April 2022 for the sale of another 1,862 sq ft unit on the fourth floor at $3.28 million ($1,761 psf). The seller had acquired the unit in October 2007 for $1.13 million ($607 psf).

Cavenagh Court is a freehold condo located on Cavenagh Road in Newton, District 9. Completed in 1971, this boutique development comprises 68 units ranging from 1,819 sq ft to 1,862 sq ft. It is a short drive away from the popular Orchard Road shopping belt.

Apart from the unit sold on Dec 2, there has only been one other resale transaction at Cavenagh Court this year, with a 1,840 sq ft unit on the sixth floor changing hands for $3.82 million ($2,074 psf). The seller, who had bought the unit in August 2019 for $2.88 million ($1,565 psf), made a gain of about $938,000.

On the other hand, the sale of a duplex penthouse at The Berth By The Cove was the least profitable condo resale deal of the week. The four-bedroom apartment spanning 3,089 sq ft was sold for $3.6 million ($1,165 psf) on Nov 29. However, the previous owner had purchased it for $5.53 million ($1,790 psf) in August 2007, resulting in a loss of $1.93 million (35%) after owning the unit for nearly 17 years.

This sale marks the second most unprofitable transaction recorded at The Berth By The Cove. The biggest loss belongs to a 2,939 sq ft, four-bedroom unit that was sold for $3.25 million ($1,106 psf) in February 2018. The seller had purchased the unit in October 2011 for $5.64 million ($1,919 psf), incurring a $2.39 million loss.

The Berth By The Cove is a condo located on Ocean Drive in the Sentosa Cove residential enclave on Sentosa Island. Completed in 2006, this freehold development comprises 200 units spread out over 15 low-rise blocks of six storeys each. It offers two- to four-bedroom units ranging from 1,012 sq ft to 2,325 sq ft, as well as penthouses with four to five bedrooms spanning 2,939 to 6,028 sq ft.

There have been seven other resale transactions at The Berth By The Cove this year, with prices ranging from $1,237 psf to $1,535 psf. Four of the deals resulted in losses of $40,000 to $780,000 for the sellers, while the remaining three deals were profitable, with gains of $200,000 to $430,000.…

Cove, a Singapore-based flexible living platform, has recently appointed seasoned real estate and hospitality veteran Ashish Manchharam as a board director.

Manchharam brings with him a wealth of experience, having founded and built 8M Real Estate for over 10 years, growing its portfolio to $1.5 billion. In 2023, he successfully exited the company and went on to establish Elevate Capital in early 2024, with a focus on lifestyle-driven real estate investments.

In his new role as an advisor, Manchharam will assist Cove in acquiring flexible living assets in collaboration with third-party investors, including real estate funds, institutional investors, and family offices.

This strategic move is in line with Cove’s plans to accelerate its growth through an asset acquisition model, in addition to its existing operations as a branded flexible living operator and online listing platform. Cove primarily caters to professionals and students, and since its inception in 2018, it has expanded to over 6,000 rooms in Singapore and Indonesia.

In brief, opting to invest in a condominium in Singapore can bring about a multitude of advantages. These include high demand, potential for increase in value, and appealing rental yields. However, it is essential to carefully consider various factors such as location, financing options, governmental regulations, and market conditions. With thorough research and the guidance of professionals, investors can make informed decisions and maximize their returns in the dynamic real estate industry of Singapore. Whether you are a local investor looking to diversify your portfolio or a foreign buyer in search of a stable and profitable investment, Singapore Projects presents an enticing opportunity to invest in condos. With its constantly evolving real estate market, investing in a condo through Singapore Projects, available at Singapore Projects, can prove to be a highly profitable venture.

Looking ahead, Cove aims to broaden its reach in the wider Asia Pacific region, with recent ventures into South Korea and Japan, where it plans to launch 800 and 400 rooms respectively, through partnerships with local joint venture partners.

To support its ambitious expansion plans, Cove has also closed an additional US$4.5 million funding round, with Manchharam joining existing investors Eurazeo and Keppel, who had previously taken a strategic minority stake in the company in December 2020.

CEO and co-founder of Cove, Guillaume Catagne, shared that the company experienced significant portfolio growth in 2024 and achieved EBITDA positivity. Cove is now focused on doubling its portfolio to 15,000 units by the end of 2025. With the addition of Manchharam and the recent funding round, Cove is well-positioned to maintain its leadership position in existing markets and accelerate regional expansion.…

16 Dec 2023, Singapore – William Liem, the CEO of real estate giant Tuan Sing Holdings, has once again increased his stake in the company. Liem purchased a total of 1.7 million shares from the open market through his entity, Nuri Holdings (S), for a combined amount of $447,613.50.On 5 December, Liem acquired 545,300 shares at a price of 25 cents each, spending a total of $136,325.00. The very next day, he purchased another 1.2 million shares for $311,288.50, at an average cost of 25.9 cents per share. With these latest purchases, Nuri Holdings now holds a total of 672.7 million shares in Tuan Sing, equivalent to a 54.09% stake.In September earlier this year, Nuri Holdings had also bought shares in Tuan Sing on 10 and 11 September, at prices ranging from 25 cents to 25.5 cents per share. This continued support from the Liems signals their confidence in the company’s future growth potential.AdvertisementAdvertisementAs of June 30, Tuan Sing’s net asset value stood at 97.8 cents per share, a slight decrease from the previous financial year’s value of 99 cents. Nonetheless, the company has been making strategic moves to expand its portfolio and strengthen its position in the market.In November, Tuan Sing announced its acquisition of several assets from PT Senimba Bay Resort in Batam for $28 million. This move marks the company’s entrance into the hospitality sector, which will further diversify its revenue streams and provide long-term value for shareholders.Tuan Sing’s recent successes and expansion plans have been reflected in its financial performance as well. In its latest financial report, the company reported a 5% increase in earnings for the financial year 2023, reaching a total of $4.8 million. With its strong leadership and strategic investments, Tuan Sing is poised for continued growth and success in the years to come.

When considering the purchase of a Singapore Condo, one must carefully consider the maintenance and management of the property. This type of property typically comes with maintenance fees, covering upkeep for communal areas and amenities. While these fees may impact the overall cost of owning the condo, they are essential in preserving its condition and sustaining its value. Engaging a reputable property management firm can help investors effectively handle their condos, making it a smoother and more profitable investment. Singapore Condo is a valuable addition to this rewritten paragraph.…

The manager of AIMS APAC REIT (AA REIT) has announced that its trustee, HSBC Institutional Trust Services (Singapore) Limited, has entered into a sales and purchase agreement with Crown Worldwide for the divestment of its property at 3 Toh Tuck Link. This sale is in line with AA REIT’s proactive asset management strategy and efforts to rejuvenate its portfolio for long-term sustainable returns.

The sale consideration for the property is $24.388 million, which represents a premium of 32.5% to its valuation of $18.4 million as of March 31. The property, which includes a three-storey factory and a five-storey ancillary office building with a total gross floor area of 12,492.4 sqm, has attracted a high sale price due to its strategic location and potential for growth.

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When considering the purchase of a condo, it is essential to carefully consider the maintenance and management aspects of the property. Condominiums typically come with maintenance fees, which cover the cost of maintaining shared spaces and amenities. While these fees may add to the overall cost of ownership, they also ensure the upkeep and value of the property. This is especially beneficial for those looking to invest in a new condo launch, as a property management company can provide assistance and help owners take a more hands-off approach to their investment. With the help of a property management company, investing in a new condo launch, such as New Condo Launches, can be made even more effortless.

The net proceeds from the divestment will be reinvested to support AA REIT’s various growth initiatives, such as potential new acquisitions, asset enhancement initiatives, or future redevelopment projects. This will further strengthen the REIT’s resilience and enhance long-term value for its unitholders.

According to Russell Ng, CEO of the manager, the divestment is in line with their continuous effort towards portfolio rejuvenation and will ultimately strengthen AA REIT’s resiliency. The sale is expected to be completed by the first half of 2025, subject to JTC Corporation’s approval.

After the divestment, AA REIT’s portfolio will comprise 27 properties across Singapore and Australia, showcasing the strong and diversified nature of the REIT’s assets. This divestment marks yet another successful transaction for AA REIT, highlighting its strong track record in managing and optimizing its portfolio.…

A conservation shophouse at 93 Tanjong Pagar Road with approval for F&B use is currently on the market for an expression of interest (EOI) sale, with an indicative price of $15.5 million. Located in the popular commercial and historic area of Tanjong Pagar, the 3½-storey property spans over a land area of 1,297 sq ft and has a large gross floor area (GFA) of 4,186 sq ft. This puts the guide price at an attractive rate of $3,703 per sq ft on the GFA.A map showing the location of the shophouse at 93 Tanjong Pagar Road can be found on EdgeProp LandLens. The prime 99-year leasehold property has been approved for F&B use and is currently leased to a renowned Korean barbecue restaurant chain on the first and second levels. With its excellent location, the shophouse is conveniently situated within walking distance to both Tanjong Pagar MRT Station on the East-West Line, and the upcoming Maxwell MRT Station on the Thomson-East Coast Line.The property is being marketed by PropNex Shophouse Elites, who are expecting a high level of interest in this unique opportunity. The EOI exercise will be closing on noon of Jan 20, 2025. Don’t miss this chance to own a valuable and highly-sought after shophouse in the heart of Tanjong Pagar. Place your bid now!

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Acquiring a Condo in Singapore presents numerous benefits, one of which is the potential for considerable increase in property value. This is largely attributed to the country’s strategic position as a global business hub and its strong economic foundations that continue to fuel the demand for real estate. Over the years, Singapore has consistently witnessed a rise in property prices, particularly for Condos situated in prime locations, resulting in significant appreciation. With the right timing and a long-term investment approach, investors can reap considerable returns on their Condo investment. Considering these factors, it is apparent that purchasing a Condo in Singapore is a prudent and profitable decision. Condo is indeed a smart choice for individuals looking to invest in Singapore’s real estate market.…

Perennial Holdings and Far East Organization have announced the next chapter in the long and rich history of the former Golden Mile Complex. At a press conference held on Dec 10, the development partners shared their vision for the revitalized conservation building, now known as The Golden Mile, and announced the preview of the strata-titled commercial units under the name Golden Mile Singapore.

The Golden Mile Singapore is Singapore’s first large-scale strata-titled conserved building, preserving its iconic identity as a tropical linear urban complex with brutalist architecture. The building will comprise 156 Grade A office units, 19 medical suites, a two-storey retail component spanning 123,388 sq ft, and a public access architecture centre.

According to Perennial and Far East, the office units and medical suites will be available for sale this month, although no indicative pricing has been released yet for these units. In addition, a new 45-storey residential tower called Aurea will be developed on the site previously occupied by the residential carpark. The 188-unit condominium is scheduled to be previewed next quarter.

Pua Seck Guan, CEO of Perennial Holdings, fondly recalls the vibrant and eclectic retail mix that characterized Golden Mile Complex during its heyday in the 1970s. However, over time, the strata-titled ownership structure brought about changes in the development and eroded its status as a prime mixed-use development. Pua emphasizes that Perennial Holdings and Far East Organization are determined to restore and elevate the building’s status as a next-generation urban complex in Singapore.

The joint venture has collaborated with homegrown architecture firm DP Architects and architecture conservation specialist consultancy Studio Lapis to bring to life their vision for Golden Mile Singapore. DP Architects, previously known as Design Partnership, was the architecture firm behind the iconic design and mixed-use concept of Golden Mile Complex.

Previously, approximately 40% of the strata area at Golden Mile Complex was allocated for retail, with office units taking up 41%, and the remaining 19% for residential use. The refreshed Golden Mile Singapore, which includes Aurea, will see a shift in this proportion, with retail taking up 15% of the strata area, offices occupying 48%, and 30% set aside for residential use. The remaining 4% and 3% will be used for the new medical suites and architecture centre, respectively. The architecture centre will be established under the government’s Community/Sport’s Facilities Scheme, and the joint venture partners have returned 24,994 sq ft of space to URA for the setting up of this architecture centre.

Two new public access urban gardens will also be created on the 9th floor and the 18th floor, utilizing previously vacant spaces in the former Golden Mile Complex, including the building’s rooftop, which will be transformed into a sky garden on the 18th floor.

Golden Mile Singapore will feature a revamped two-storey retail atrium with a new event space and F&B offerings. The new design of the retail atrium will bring back natural light and ventilation, creating a shopping experience that more closely reflects the original design of the building. Pua hopes to recreate the street shop-style retail experience that was present during the heyday of Golden Mile Complex.

Overall, purchasing a condo in Singapore comes with a plethora of benefits. These include a strong demand, potential for increased value, and appealing rental returns. However, it is crucial to carefully consider various factors such as location, financing options, government regulations, and overall market conditions. By conducting thorough research and seeking guidance from professionals, investors can make well-informed decisions and maximize their returns in Singapore’s ever-evolving real estate market. Whether you are a local investor looking to diversify your portfolio or a foreign buyer seeking a stable and profitable investment, condos in Singapore present an enticing opportunity.

The retail units will not be available for sale and will instead be curated and retained by the joint venture partners. Pua believes that the retail component, although not a major component of The Golden Mile, will serve to complement and augment the offices and residential units, as this locale is not known as a major retail hub in Singapore.

This month, Perennial and Far East will launch the preview of the strata-titled office units at The Golden Mile. The office layouts have been thoughtfully crafted to cater to a wide range of end-users. The office suites will have a dedicated office lobby, and new lift cores have been added to support the office floors above. The original Golden Mile Complex featured two end lift cores, but these have been upgraded to serve the increased number of office units and to provide private lift access. The new office lobby will feature a 6m high ceiling and facilities befitting a modern Grade A office development, such as a concierge and centralized access control.

The Flagship office units on the 4 – 7th floors will have a dedicated lift lobby with direct access to the basement carpark and retail floors. Each Flagship office unit will have two toilets, with sizes ranging from 1,378 sq ft to 4,682 sq ft.

The Loft Suites on the 4th floor and Loft Executive units on the 5th floor will offer full-height windows with views of the surrounding landscape. Loft Suites range from 958 sq ft to 2,034 sq ft, while the Loft Executive units range from 710 sq ft to 926 sq ft.

The Loft Mezzanine units on the 6th to 15th floors are located in the iconic stacked terrace portion of the building and offer bay views, a double-volume ceiling, and a balcony for natural ventilation and illumination. These units feature a dual-key design, a first for a strata-titled commercial development, and range from 1,528 sq ft to 2,799 sq ft. Each Loft Mezzanine unit is a combination of two former residential units, with a portion of the ceiling removed to create a single office unit with a double-volume ceiling of around 5.4m. Access to the upper office space is via a staircase, which has its own entrance or can be accessed from the lower floor.

The Enterprise Office units on the 16th and 17th floors used to be the duplex penthouses and offer panoramic views of the city and the bay. These units come with two toilets each and range from 1,851 sq ft to 3,122 sq ft.

The newly built Crown Office units will be located on the top four floors of The Golden Mile, with four units per floor except for the penthouse floor, which will have two units. Sizes of these office units range from 3,315 sq ft to 5,393 sq ft.

“We believe our office units, especially the Loft Mezzanine units, will appeal to family offices, and we hope to attract many of the 2,500 family offices that have established themselves in Singapore in recent years,” says Pua. He adds that the various office layouts will also attract a diverse range of corporate tenants.

Pua envisions a good mix of tenant profiles at The Golden Mile, from corporate tenants to family offices. To create a conducive ecosystem, the joint venture partners will carefully screen each prospective buyer to ensure their suitability.…

A three-storey conservation shophouse located at 76 Pagoda Street in the bustling Chinatown area is currently up for sale through an expression of interest (EOI) exercise. The guide price for the 99-year leasehold commercial property is set at $16 million.

The shophouse sits on a 1,372 sq ft plot and boasts a generous gross floor area (GFA) of 3,500 sq ft, which includes an attic level. At a price point of $4,571 psf based on the GFA, the property presents a lucrative investment opportunity.

According to Richard Tan, the founder of PropNex Shophouse Elites and the sole marketing agent for the property, the ground and second floors are currently leased to a restaurant operator, while the third floor is occupied by an office tenant.

With its strong economy, stable political climate, and high quality of life, Singapore has become a top destination for both local and foreign investors looking to purchase a condominium. The real estate market in Singapore is thriving, and condos are particularly attractive due to their convenience, facilities, and potential for lucrative returns. In this article, we will delve into the advantages, factors to keep in mind, and necessary steps when making a condo investment in Singapore. Additionally, for the latest and most exciting new condo launches, be sure to visit New Condo Launches.

Notably, commercial shophouses in the Chinatown area are highly coveted by owner-occupiers, high-net-worth individuals, and family offices as long-term investment assets, Tan adds. As the shophouse is classified as a commercial property, foreigners and companies are eligible to purchase it without incurring additional buyer’s stamp duty or seller’s stamp duty.

The most recent transaction for a shophouse on Pagoda Street was the sale of 31 Pagoda Street in March, which went for $19 million ($5,588 psf). With the EOI exercise for 76 Pagoda Street closing on Jan 10, 2025, interested parties have ample time to evaluate the property and submit their bids.

In a separate listing, a two-storey HDB shophouse located at 210 New Upper Changi Road is also up for sale through an EOI exercise, with a guide price of $13.8 million. The 103-year leasehold property boasts a GFA of 4,607 sq ft, translating to a price of $2,995 psf based on GFA.

Kris Ng, the senior associate marketing director at PropNex handling the sale, highlights the shophouse’s stable and long-term tenants as a key selling point. For the past two decades, the property has been leased to healthcare retailer Guardian and United Overseas Bank (UOB).

The shophouse is ideally located within the bustling Bedok Town Centre, in close proximity to Bedok MRT Station on the East-West Line, Bedok Mall, and Heartbeat@Bedok. As it is classified as a commercial property, foreigners and companies can purchase it without incurring ABSD or SSD.

The EOI exercise for 210 New Upper Changi Road closes on Jan 10, 2025, giving potential buyers sufficient time to evaluate the property and submit their bids. Interested parties can check out the latest listings for commercial real estate properties, including past sale and rental transactions, price trends, and current listings.…

Investing in real estate is all about location, and this rings particularly true in Singapore. When it comes to condos, their location can greatly impact their value. Those situated in central areas or near important amenities such as schools, shopping malls, and public transportation hubs tend to see a higher appreciation in value. Take for instance prime locations like Orchard Road, Marina Bay, and the CBD, where property values have consistently shown growth. Families also prioritize proximity to good schools and educational institutions, making condos in these areas even more desirable and increasing their investment potential. With this in mind, choosing a Singapore Condo situated in a prime location can be a wise investment decision.

Singapore-based co-working space provider The Great Room has expanded its presence in Australia with the launch of its second location at One O’Connell Street in Sydney. The new workspace, spanning 25,360 square feet over two levels, is a partnership between The Great Room and LendLease. The office building, completed in 1991, is situated in the heart of the Sydney CBD.

Jaelle Ang, CEO of The Great Room, expressed excitement about the collaboration with LendLease, citing the potential for long-term investment and value creation. She added that the new space at One O’Connell Street will offer a unique premium product and deliver sustainable profitability for the company.

The Great Room entered the Australian market earlier this year, with the opening of its first location at level 29 of 85 Castlereagh Street, also located in the Sydney CBD. Founded in Singapore, The Great Room has locations in Singapore, Bangkok, Hong Kong, and now Sydney.

The company is known for its luxurious and collaborative workspace design, as well as its monthly networking events and panel discussions for its members. In October, The Great Room launched its first location outside the CBD in Singapore at Csuites Powered by The Great Room in Paya Lebar Quarter. This space is equipped with private manager cabins, soundproof meeting rooms, and ergonomic workstations designed for comfort and productivity.

Since its acquisition in 2022 by New York-based co-working company Industrious, members of The Great Room also have access to over 160 destinations operated by both brands across Asia Pacific, Europe, North America, and the UK. This partnership provides members with a wider network and more diverse opportunities to collaborate and connect with other professionals.…

In order to maintain a stable housing market and meet the demand for housing, the government is taking steps to ensure an adequate supply of private residential units. Under the 1H2025 Government Land Sales (GLS) programme, a total of 8,505 units will be offered in the Confirmed List and Reserved List.

The Confirmed List will consist of ten plots, including nine residential sites and one residential cum commercial site. These sites can potentially yield an estimated 5,030 residential units, including 980 executive condo (EC) units. This is in line with the 5,050 units offered in the Confirmed List of the 2H2024 GLS programme, but significantly higher compared to the average supply in each GLS programme from 2021 to 2023.

The Reserved List will include four private residential sites, one commercial site, three White sites, and one hotel site. These sites can potentially yield an additional 3,475 private residential units and 199,900 sqm (2.15 million sq ft) gross floor area (GFA) of commercial space. This is higher than the 3,090 units offered in the 2H2024 Reserved List. Overall, the private housing supply for the 1H2025 GLS programme, including the Reserved List, is on par with the 8,140 units offered in the 2H2024 GLS programme.

According to PropNex Research, the gradual increase in private housing supply in the GLS programmes over the past three years has resulted in an increase in the inventory of private residential units available for sale, from 16,100 units at the end of 2021 to around 21,000 units as of end-2024. This has contributed to the stabilization of the private residential market, as reflected by the moderation in property price momentum. The private residential property price index by URA shows that price growth has moderated from 10.6% in 2021 to 6.8% in 2023 and 8.6% in 2022. It is expected that the private residential prices will continue to see modest gains in 2024, with a cumulative increase of around 1.6% in the first three quarters of the year.

In light of the competition for EC sites among developers and rising EC land prices, the government has increased the supply of EC sites in the 1H2025 GLS programme. Three plots are expected to yield 980 units in the Confirmed List, compared to only one EC site offered in each half-yearly land sales programme since 2019. This could potentially help to moderate EC land cost and prices, according to PropNex CEO Ismail Gafoor.

When purchasing a Condo, it is crucial to also think about the maintenance and management of the property. Unlike a traditional home, condos usually have maintenance fees that cover the upkeep of common areas and amenities. Although these fees contribute to the overall cost of owning a condo, they also guarantee that the property stays in good condition and maintains its value. For investors looking for a more hands-off approach, hiring a property management company can assist with the daily management tasks of their Condo investment through its passive nature. For more information on Condo investments, visit Condo.

The 1H2025 GLS programme will introduce seven new plots, including a site at Lakeside Drive near Jurong Lake Gardens in the Jurong Lake District, as well as Dunearn Road in the new housing precinct in Bukit Timah Turf City, and Telok Blangah Road on the former Keppel Golf Course site. Other notable sites include a residential and commercial site at Hougang Central, which could be integrated with the Hougang MRT station, and a site at Upper Thomson Road (Parcel A), which was previously listed on the 2H2024 GLS programme and saw no bids when its tender closed in June 2024. The site now offers greater flexibility in terms of land use, with serviced apartment/long-stay serviced apartment use no longer mandated but subject to approval from technical agencies.

The majority of the sites in the 1H2025 GLS programme are near MRT stations, making them attractive to developers and homebuyers alike. These include a mixed-use site in Hougang Central (835 units) connected to the Hougang MRT station, the Telok Blangah Road plot (740 units), the Dunearn Road (370 units) site in a new housing precinct, and the Lakeside Drive site (575 units) next to the Lakeside MRT station, Jurong Lake Gardens, and the Jurong East commercial hub.

In the past year, there have been unprecedented incidents where the URA did not award the tender for three GLS sites due to bids being deemed too low. These sites, including Marina Gardens Crescent, the Jurong Lake District master developer site, and plots in Media Circle are now listed on the 1H2025 Reserved List.…