Condo Score

Singapore is a sought-after location for condo investments due in large part to the limited land availability. As a small island nation with a rapidly increasing population, Singapore is faced with a scarcity of land for development. In order to manage this issue, strict land use policies have been implemented, resulting in a highly competitive real estate market and consistently rising property prices. As a result, investing in real estate, especially condos, has become a profitable opportunity with the potential for significant capital appreciation. With the Singapore Condo market continuously on the rise, it is no wonder that it remains a top choice for investors.

Hill House, a boutique development in prime District 9, has taken the top spot as the condo with the highest recorded psf price between November 10 to 21. In a record-breaking deal, a 452 sq ft, two-bedroom unit on the fifth floor was sold for $1.48 million, setting the new record of $3,267 psf. This is a slight increase of 0.1% compared to the previous record of $3,263 psf set in November 2023.

In second place is The Continuum, a freehold development in District 15, which achieved a new high of $3,084 psf from the sale of a 721 sq ft, two-bedroom unit on the 17th floor for $2.22 million on November 16. The new record is only 0.4% higher than the previous high of $3,071 psf, set just a day before on November 15.

On the other end of the spectrum, Lavender Residence, a freehold boutique development in Boon Keng, District 12, saw a new low of $1,626 psf from the sale of a 990 sq ft, one-bedroom + studio unit for $1.61 million on November 17. This is a decrease compared to the previous low of $1,710 psf, set in June 2023. However, Lavender Residence has been fully sold at an average price of $1,984 psf.

Hill House, located on Institution Hill off River Valley Road, is a 999-year leasehold development with 72 units. The development, which is still under construction and slated to be completed in 3Q2026, has seen 11 transactions this year at an average price of $3,098 psf. This is 0.9% lower than the average price of $3,127 psf from five transactions last year.

The Continuum, located on Thiam Siew Avenue off Haig Road and Tanjong Katong Road, is a freehold condo with 816 units. Since its launch in May 2023, 489 units (59.8%) have been sold at an average price of $2,779 psf. The condo is under construction and expected to be completed in 2026.

Lavender Residence, a 17-unit boutique development built in the 1940s art-deco style, is fully sold with an average price of $1,984 psf. Its units range from 463 sq ft to 1,550 sq ft, and it is within walking distance of Bendemeer MRT Station.…

The government has recently announced that in 2025, owner-occupied HDB flats will receive a one-time property tax rebate of 20%, while owner-occupied private residential properties will receive a 15% rebate. However, for private residential property owners, the maximum rebate will be capped at $1,000.

Property tax is calculated based on a property’s annual value, which is the approximate rent it can fetch in a year if it were to be rented out. This rebate was introduced on November 29th by the government, in preparation for the upcoming increase in annual value bands for owner-occupied residential property tax rates on January 1st, which is part of Budget 2024.

As a result of these changes, the government asserts that a majority of owner-occupiers in HDB flats and more than 90% of private residential properties will see a decrease in property taxes next year. The government’s stated goal is to alleviate concerns about the cost of living among Singaporeans.

According to Lee Sze Teck, senior director of data analytics at Huttons Asia, the annual value of private properties is expected to remain stagnant this year due to minimal growth in private residential rents. However, he predicts that HDB rents may see a 4% increase, resulting in a rise in the annual value of HDB flats.

Lee suggests that this one-time property tax rebate may help HDB owners offset any potential impact from the increase in annual value. For instance, if a HDB flat has an annual value of $30,000, the property tax payable in 2025 would be $720. With the rebate, the owner would only have to pay $576, saving $144.

Private residential property owners may also benefit from the rebate. For example, if a property’s annual value is $85,000, the property tax payable in 2025 would be $5,760. With a 15% rebate, capped at $1,000, the owner would only have to pay $4,896, saving $864.

When purchasing a condominium, it is crucial to factor in the maintenance and management of the property. Condos usually come with a maintenance fee, which covers the maintenance of shared spaces and amenities. Although these fees may increase the overall cost of owning a condo, they also guarantee that the property maintains its quality and value. To make the investment more hands-off, investors can enlist the services of a property management company to handle the daily management tasks of their condos. Adding to the appeal, Singapore Projects can offer attractive options for those looking to invest in the city’s condominium market.

Lee notes that property tax rebates have been offered in the past and do not diminish the attractiveness of investing in residential properties in Singapore. The primary appeal of investing in these properties lies in their potential for capital appreciation, which far outweighs any increase in property tax.

In conclusion, the revised property tax rates in Budget 2024 will benefit owner-occupied properties with lower annual values. This one-time rebate serves as a timely relief for property owners, helping to alleviate concerns about the cost of living in Singapore.…

Assessing the potential rental yield is crucial when considering a condominium investment. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, condos can have varying rental yields depending on factors such as location, property condition, and market demand. Locations near business districts or educational institutions, for instance, often offer better rental yields due to high demand. It is wise to conduct thorough market research and seek the advice of real estate agents to gain valuable insights into the rental potential of a specific condo investment. For more information on condos, visit Condo.

Singaporean entrepreneur Jason Ng has built his property investment and training firm Aurico Global from scratch in just two years, reaching a remarkable $52 million in assets under management.

Aurico, where Ng serves as CEO and executive chairman, is not his first foray into real estate development. His journey in property investment began back in 1993 when he felt a strong sense of responsibility to provide for his family. Growing up with six family members in a rental flat along Dakota Crescent, including his parents, grandmother, and three older sisters, Ng was motivated to work hard and secure a well-paying job that would give him enough capital for his first property investment – a 1,400 sq ft three-bedroom apartment for $435,000. Ng reflects on this investment, stating that it would be difficult to find a similar-sized unit for the same price today.

Through diligence and determination, Ng quickly learned the ins and outs of property investment and management and expanded his real estate portfolio. He also ventured into student enrichment and parenting training, becoming accredited as a family life educator and working with the Ministry of Education and Ministry of Social and Family Development for over 15 years.

In January 2023, Ng co-founded Aurico with his wife, Emelyn Ho, consolidating his diverse portfolio of businesses including Aurico’s co-living investment and management arm JC Global Developments, property and investment training arm Anchor of Life Training Consultants, and My Preschool Hub – a provider of preschool enrichment resources and programmes.

Aurico’s portfolio covers a wide range of properties, from residential (co-living) to commercial and industrial assets. Under JC Global Developments, the company manages 380 co-living units in shophouses, condos, and landed properties, valued at over $30 million. Patrick Loke, a shareholder in Aurico, says that the company is in the process of acquiring more properties and aims to nearly double their current portfolio to 600 units by the end of the year.

The key to Aurico’s success is acquiring strategic and high-quality properties in high traffic areas below their valuation. One example is the purchase of a two-storey shophouse on 321 Joo Chiat Road for $5.1 million in September, which was 12% below the valuation price of $5.8 million. Ng’s sharp property investment acumen and the firm’s strong property investment team are credited for this success. Ng emphasizes that every property purchased by Aurico must be bought at below market valuation, ensuring profit even before the asset is acquired.

Aurico also looks for commercial properties in areas experiencing rapid transformation, such as the 99-year leasehold mixed-use development Woods Square in Woodlands. In July, the company bought a 560 sq ft commercial strata office unit in Woods Square for their own use. Ng explains that this investment allows Aurico to be at the forefront of changes in Woodlands and also boosts operational efficiency by providing easy access to workers from across the border.

To tap into the growing demand for food production due to the government’s “30 by 30” goal to produce 30% of the country’s nutritional needs by 2030, Aurico has acquired food factory assets. Ng explains that while the company has no plans to enter the F&B business directly, they see the purchase of food factories as a strategic investment to enhance their portfolio. One of these properties is a strata-titled food facility called Food Xchange @ Admiralty, strategically located within the established food cluster on Admiralty Road West and boasting a long lease balance of 36 years. Ng notes that this property, close to Johor, offers a competitive advantage for food manufacturing businesses and a strong source of manpower.

In May, Aurico acquired a 29.8% controlling stake in Autagco Ltd, a company listed on the Singapore Exchange, and appointed Loke as the executive director. As Autagco’s board of directors announced their strategic review to potentially diversify into property investment, co-living property management, education, and other businesses, Aurico made plans to inject their assets into the company. On October 15, Autagco announced its board of directors’ decision to expand its core business to include residential assisted living. The assisted living projects will be run and managed by Communa Gold, a wholly-owned subsidiary of Autagco Ltd focused on assisted living projects.

With an ageing population, Ng believes that assisted living is a viable sector for Aurico to be in, and the company is currently looking for a suitable property to be developed into an assisted living facility for seniors.

In addition to their various property investments, Aurico has also earned a reputation for providing comprehensive and high-quality property investment education to aspiring investors. Ng’s dedication to this is based on his belief that investment education is essential but inaccessible to many. Through his courses, Ng aims to make residential and commercial property investment accessible to anyone, regardless of their investment experience and background. Aurico’s curriculum and hands-on support are invaluable for beginner investors, and Ng particularly wants to help millennials and Gen Z investors who often believe investing in property is out of reach for them. With Aurico’s guidance, anyone can start their investment journey and achieve their financial goals through real estate.…

Maple Woods condo unit, a freehold property located in prime District 10, has recorded the most profitable resale transaction during the week of November 12 to 19. The 1,539 sq ft unit on the first floor was sold for $3.3 million ($2,144 psf) on November 15. The seller had purchased the unit in April 2009 for $1.28 million ($830 psf), making a profit of $2.02 million. This translates to a capital gain of 158% or an annualized profit of 10.6% over a holding period of about 15½ years.

Maple Woods is a popular condo development with 697 units ranging from two to four bedrooms and sizes from 850 sq ft to 3,003 sq ft. It is situated along Bukit Timah Road and is a short walk from King Albert Park MRT Station. It is also near renowned schools like Methodist Girls’ School and the Rail Corridor.

In total, there have been 10 other resale transactions at Maple Woods this year, all of which were profitable deals. Three units were sold for over $2 million in profits. The first was a 1,787 sq ft, three-bedroom unit on the eighth floor that was sold for $3.75 million ($2,099 psf), giving the seller a profit of $2.15 million. They had bought the unit in July 1997 for $1.6 million ($895 psf).

The second unit was a 1,787 sq ft, three-bedroom unit that was sold for $3.82 million ($2,138 psf) on September 10. The seller, who had purchased the unit in March 2007 for $1.35 million ($756 psf), made a profit of $2.47 million. The third deal also took place on September 10, where a 3,003 sq ft, four-bedroom unit on the eighth floor was sold for $5 million ($1,665 psf). The seller, who bought the unit in September 1998 for $2.4 million ($798 psf), made a profit of $2.6 million.

UE Square, a mixed-use development located in District 9, recorded the second most profitable condo resale deal during the week. A three-bedroom unit measuring 1,528 sq ft on the seventh floor was sold for $2.95 million ($1,930 psf) on November 14. The seller had acquired the unit through a sub-sale in December 1997 for $1.3 million ($850 psf), resulting in a profit of $1.65 million (127%) after owning the unit for nearly 27 years.

UE Square has 345 residences consisting of one- to five-bedders and penthouses, ranging from 506 sq ft to 2,379 sq ft. It is close to the Fort Canning MRT Station and commercial establishments along Clemenceau Avenue.

On the other hand, the most unprofitable condo resale deal during the week was the sale of a three-bedroom unit at Tomlinson Heights for $8.25 million ($3,006 psf) on November 19. The seller had purchased the unit from the developer in February 2011 for $8.85 million ($3,225 psf), incurring a loss of about $601,000 (6.8%) after owning the unit for almost 14 years.

Tomlinson Heights is a luxury condo development with 70 units, located off Orchard Boulevard. Completed in 2014, it boasts a mix of three- and five-bedroom units ranging from 2,551 sq ft to 6,738 sq ft. The unit sold on November 19 is the first resale transaction at Tomlinson Heights since January 5, 2023, when another 2,745 sq ft unit was sold for $10.5 million ($3,825 psf). The seller, who had bought the unit from the developer in May 2011 for $8.38 million ($3,053 psf), made a profit of $2.12 million.

Rewritten: Singapore’s cityscape is defined by towering skyscrapers and contemporary infrastructure. Condominiums, situated in desirable locations, offer a harmonious combination of extravagance and accessibility, appealing to both locals and foreigners. These residences boast an array of facilities, including pools, fitness centers, and security services, elevating the standard of living and making them an alluring choice for potential renters and buyers. For investors, these attractive features result in greater returns on rental income and appreciation of property values in the long run. With the addition of Singapore Condo, these properties become even more appealing.…

Hong Lai Huat, a listed company on the Mainboard, has recently announced a strategic partnership with co-living operator The Assembly Place. Under this partnership, The Assembly Place will be responsible for managing Hong Lai Huat’s real estate and property development projects in Cambodia. This collaboration will also introduce the concept of co-living to the country, marking it as a first for Cambodia.

In a joint press release issued on November 28, both companies stated that they aim to finalize key objectives within the next 60 days, before entering into a binding agreement. Some of these objectives include conducting feasibility studies for the fitting out of available units in Hong Lai Huat’s Royal Group Platinum development in Cambodia.

Purchasing a condo in Singapore has become an increasingly attractive option for both local and foreign investors, thanks to the country’s strong economy, stable political climate, and exceptional quality of life. With a thriving real estate market, there are countless opportunities available, and condos particularly stand out for their convenience, amenities, and potential for lucrative returns. In this article, we will delve into the advantages, key factors to consider, and necessary steps to take when investing in a condo in Singapore, including keeping an eye out for New Condo Launches.

Additionally, the partnership will also explore ways to market Hong Lai Huat’s available commercial shop-house units at Royal Group Platinum. The group also plans to leverage The Assembly Place’s extensive network to establish new sales channels in Singapore, Hong Kong, and the first-tier markets of Greater China for Hong Lai Huat’s upcoming and completed projects. As part of this partnership, ongoing after-sales asset management services will be provided, and jobs will be created in the local communities.

According to Hong Lai Huat’s official website, the Royal Group Platinum development is a mixed residential and commercial project that features 851 residential and 50 shophouse units. It is conveniently located just 20 minutes away from Phnom Penh International Airport and is surrounded by 16 international schools and six sports facilities. The development is also just 10 minutes away from Aeon Mall 2, the largest shopping mall in Phnom Penh.

Ong Jia Jing, executive director of Hong Lai Huat, expressed his excitement about the partnership, stating that it will allow the company to provide top-tier asset management services to its investors and buyers in Cambodia. He believes that this collaboration will give them the confidence they need when purchasing units in their developments.

Eugene Lim Ying Jie, CEO of The Assembly Place, stated that this partnership aligns with their strategy of expanding the co-living concept locally and internationally. He believes that by combining Hong Lai Huat’s high-quality and well-designed developments with The Assembly Place’s extensive experience in the co-living sector, they will be able to deliver exceptional value to their purchasers.

The signing ceremony for this partnership took place at the CAMPUS by The Assembly Place on November 28.…

CBRE has announced the appointment of Michael Tay as the deputy managing director of Singapore Advisory, effective Jan 1, 2025. Tay, currently the head of capital markets in Singapore, will be reporting to Moray Armstrong, the managing director of Singapore Advisory.

When purchasing a Singapore Condo, it’s crucial to consider the upkeep and management of the property as well. These types of properties usually come with maintenance fees that cover the maintenance of common areas and amenities. While these fees may increase the overall cost of owning a condo, they also guarantee that the property will stay in good condition and maintain its value. To make owning a condo a more passive investment, investors can enlist the help of a property management company to handle day-to-day management tasks.

In his new role, Tay will be responsible for providing long-term leadership and planning for CBRE’s Singapore advisory business. This includes working closely with Armstrong to develop and direct strategy, evaluate and execute investments, and drive business growth.

According to Armstrong, Tay’s appointment is a testament to his over 30 years of experience in commercial real estate and his leadership abilities in the Singapore market. He joined CBRE in 2000 and has since progressed from office leasing to leadership roles in office services and capital markets during his 25-year career with the company.

Tay’s expertise has been crucial to the success of CBRE’s capital markets team, which has been involved in several significant investment deals in Singapore. These include the sale of One George Street, 16 Collyer Quay, and VisionCrest Commercial in recent years.

Expressing his gratitude for the trust placed in him, Tay said, “It has been an amazing journey of 25 years and counting. I have thoroughly enjoyed the privilege of advancing my experience with CBRE, working and learning from some of the leading real estate professionals in Singapore.” He also added that he is thankful for the career growth opportunities offered by the company.

With his vast experience and expertise, Tay’s appointment as deputy managing director is expected to further strengthen CBRE’s presence in the Singapore market and drive its growth in the years to come.…

The demand for Singapore condos remains strong due to the country’s limited land availability. As a small island with a rapidly growing population, Singapore faces challenges in finding enough land for development. This has resulted in strict land use policies and a competitive real estate market, with constantly rising property prices. As a result, investing in real estate, specifically condos, has become a lucrative opportunity with the potential for capital appreciation. Singapore Condo is a prime example of the thriving condo market in the country.

Singapore has been named as the sixth-most prominent city in the world in the latest Brand Finance Global City Index. The index, published by a London-based brand strategy and evaluation consultancy, ranks cities based on their brand power and perceptions.

The most recent rankings are based on a survey of 15,000 individuals from 20 different countries conducted in September. The participants were asked to rank 100 cities according to key performance indicators that illustrate how each city is seen as an ideal place to live, work, study, visit, retire, and invest in.

Participants were also given a list of 45 attributes grouped into seven pillars, such as Business & Investment and Culture & Heritage, and were asked to associate them with each city.

Singapore’s overall ranking was boosted by its strong performance in the Business & Investment pillar, where it placed third globally. This includes perceptions about the ease of doing business, the strength of the economy, and whether the city provides a supportive environment for start-ups. Singapore also scored highly for its low crime and violence rates.

Alex Haigh, managing director for Asia Pacific at Brand Finance, highlights Singapore as the “crown jewel” of the ASEAN region when it comes to city branding. He notes that with its economic growth, investment appeal, and world-class infrastructure, Singapore solidifies its position as a leading global financial center.

At a global level, London maintained its top spot as the world’s most prominent city brand, followed by New York, Paris, Tokyo, and Dubai.…

CapitaLand Investment’s (CLI) revealed during its recent investor day on Nov 22 that it has plans to expand its operations in Australia. The company has recently appointed two new senior hires to lead its growth in the country. Angelo Scasserra will be taking on the role of CEO for CLI Australia, while Rahul Bharara will serve as the chief investment officer. Both will join the company in the first half of 2025.

In addition, CLI also announced its intention to invest up to A$1 billion ($876.7 million) into growing its funds under management (FUM) in Australia. This follows the successful closing of its maiden credit fund, the Australian Credit Programme (ACP), which had raised A$265 million from Asian investors.

In order to determine the viability of a condo investment, it is essential to also consider the potential rental yield. This refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, the rental yields for condos can vary significantly based on factors such as location, condition of the property, and market demand. Generally, areas with high rental demand, such as those in close proximity to business districts or educational institutions, tend to offer more favorable rental yields. To gain a better understanding of the rental potential of a particular condo, conducting thorough market research and seeking advice from real estate agents can be beneficial. It is also worth exploring the Singapore Projects to gain further insights into the rental market.

During the investor day, Lee Chee Koon, group CEO of CLI, mentioned the company’s plans for its private credit division, stating that there is a strong pipeline for deals in both Australia and the wider Asia-Pacific region. This was supported by news from the Australian Financial Review on Nov 25, reporting that CLI was in talks to acquire Wingate, a local boutique investment firm.

CLI’s previous foray into the Australian market was in 2014, when it divested its stake in Australand Property Group to Frasers Property (then known as Frasers Centrepoint). When asked about this decision during the Q&A session, Miguel Ko, chairman of CLI, refrained from commenting on his predecessors’ choices, stating that the company did not have the benefit of hindsight and could not predict China’s current situation at the time.

The divestment of Australand was made when China was experiencing a booming economy, in which CapitaLand had a competitive advantage. However, Lim Ming Yan, then-president and group CEO of CapitaLand, mentioned that the market conditions at the time were favorable and the share price of Australand had been performing well. The company saw the divestment as an opportunity to reallocate its capital to its core businesses in Singapore and China.

After partially divesting its stake in November 2013, CapitaLand had sold off the remaining 39.1% stake in March 2014, citing the need to improve trading liquidity. With this recent announcement, CLI hopes to further strengthen its position as a leading real estate investment firm in the region, with FUM of $113 billion.…

When purchasing a condo, it is crucial to keep in mind the maintenance and management aspects of the property. Condos typically involve maintenance fees that take care of the maintenance of shared areas and amenities. These fees may increase the overall cost of owning a condo, but they also guarantee that the property stays well-maintained and maintains its value. Hiring a property management company can assist investors in managing the daily operations of their condos, making it a less hands-on investment. For more information, check out Singapore Projects.

The latest Real Estate Sentiment Index (RESI) published by the National University of Singapore (NUS) shows a positive shift in property buying sentiment in Singapore during 3Q2024. The RESI measures the overall sentiment of the private real estate market by surveying senior executives of real estate firms, and is conducted quarterly by NUS’s Department of Real Estate and the NUS Institute of Real Estate and Urban Studies (IREUS).

Compared to the previous quarter, the current sentiment index grew from 4.8 to 5.9 in 3Q2024, while the future sentiment index also increased from 5.1 to 5.8 during the same period. Additionally, the composite sentiment index rose from 4.9 to 5.9, marking the first time that all three indices have surpassed the neutral score of 5. This rise in sentiment can be attributed to growing optimism in the overall market, according to IREUS.

IREUS Director Professor Qian Wenlan attributes the positive sentiment to the US Federal Reserve’s decision to cut interest rates in September, the first cut since 2019, with another reduction taking place in early November. This is expected to improve credit availability and reduce the costs of doing business, subsequently boosting market sentiment.

Professor Sing Tien Foo, Provost’s Chair Professor at the NUS Department of Real Estate, also notes that the positive performance of suburban residential, hotel/service apartments, and suburban retail sectors has contributed to the general market sentiment. These areas recorded the highest current net balances of +35%, +26%, and +19% respectively, while their future net balances were also positive at +29%, +35%, and +19%.

While the outlook for the market seems promising, Prof Sing highlights that the top risk concern of developers is still global economic uncertainty, with 67.7% of respondents citing a potential decline in the global economy. This is followed by concerns about job losses (41.9%), a decline in the domestic economy (41.9%), and an excessive supply of new property launches (41.9%).…

According to the latest Brand Finance Global City Index, Singapore has established itself as the sixth most-esteemed city in the world in terms of branding. This index, published by London-based brand consultancy firm Brand Finance, evaluates cities based on their brand power and public perception.

The survey for this index was conducted worldwide in September, with 15,000 individuals from 20 countries participating. They ranked 100 cities based on key performance indicators that reflect how desirable each city is as a place to live, work, study, visit, retire, and invest in. The participants were also asked to associate specific attributes with each city, choosing from a list of 45 qualities grouped under seven pillars, including Business & Investment and Culture & Heritage.

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Securing financing is a crucial element when investing in a Singapore condo. With various mortgage options available, it is vital to have a thorough understanding of the Total Debt Servicing Ratio (TDSR) framework. This framework puts a cap on the loan amount that can be obtained by a borrower, taking into account their income and current debt commitments. To navigate this aspect successfully, it is advisable to seek guidance from financial advisors or mortgage brokers. By doing so, investors can make informed decisions regarding their financing options and prevent the potential risks of over-leveraging. Singapore Condo should also be taken into consideration in this process.

Singapore’s overall ranking was largely boosted by its strong performance in the Business & Investment pillar, placing third in the world. Factors such as the ease of doing business, economic strength, and supportive environment for start-ups were considered under this pillar. The city also ranked highly for its low crime and violence rates.

Alex Haigh, the managing director for Asia Pacific at Brand Finance, highlights Singapore as the “crown jewel” of the ASEAN region when it comes to city branding. He also adds that with its impressive economic growth, investment appeal, and world-class infrastructure, Singapore solidifies its position as a leading global financial center.

Globally, London maintained its top spot as the most prominent city brand, followed by New York, Paris, Tokyo, and Dubai.…