Month: December 2024

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When it comes to investing in condos in Singapore, one crucial factor to consider is the government’s property cooling measures. Over the years, the Singaporean government has implemented various measures to discourage speculative buying and maintain a steady real estate market. These measures involve the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. Although these measures may affect the short-term profitability of condo investments, they also contribute to the long-term stability of the market, creating a safer environment for investors.

As we approach 2025, Singapore’s built environment is on the cusp of major changes. The facilities management (FM) sector is facing increasing pressure to adapt to new regulations, cost constraints, and technological advancements. Three key factors will shape the future of FM and promote sustainability: the mandatory energy improvement regime, the impact of rising temperatures …

as more foreigners looking to set down roots in Singapore

The potential advantages of investing in a condo go beyond the property itself. Condo owners have the opportunity to leverage their property’s value for additional investments, making it a smart choice for building a diverse real estate portfolio. By using their condo as collateral, investors can secure financing for new ventures, such as Singapore projects, and potentially increase their returns. However, it’s essential to have a solid financial plan and carefully evaluate the potential risks that may arise from market fluctuations.…

The sale of a six-bedroom penthouse at JadeScape, located at Shunfu Road, has made headlines recently as it was the most profitable condo resale transaction during the week of Dec 3 to Dec 10. The 4,230 square feet unit on the 23rd floor was sold for $10.15 million, at a rate of $2,399 per square foot, on Dec 9. This was a significant increase from the previous sale price of $5.8 million, at $1,371 per square foot, back in December 2019 when the unit was bought directly from the developer. The seller has gained a profit of $4.35 million, equivalent to a capital gain of 75% or an annualised profit of 15%.

According to data from caveats lodged, this is the largest profit ever made on a unit at JadeScape. The previous record was from the sale of a 5-bedroom unit spanning 2,099 square feet on the 10th floor, which …

SINGAPORE (Feb 20): CapitaLand Ascendas REIT (CLAR) has announced the proposed acquisition of DHL Indianapolis Logistics Center, a Class A logistics property located in Whiteland, southeast Indianapolis, Indiana. The property will be acquired from Exel Inc. d/b/a DHL Supply Chain (DHL USA) for a consideration of $150.3 million, representing a 4.1% discount to the independent market valuation as at January 1, 2025. Including transaction-related fees and expenses of $1.7 million and an acquisition fee of $1.5 million paid to the manager, the total acquisition cost is estimated to be $153.4 million. To finance the acquisition, the manager intends to use a combination of internal resources, divestment proceeds, and/or existing debt facilities, as stated in a press release on December 17. The property is currently fully occupied with a weighted average lease expiry (WALE) of approximately 11 years. DHL USA has also agreed to enter into a long-term leaseback till December …

Wee Hur Holdings has recently announced that they have entered into a binding agreement to sell its portfolio of seven purpose-built student accommodation (PBSA) assets to Greystar, according to a press release on December 16th.

This portfolio, which comprises of over 5,500 beds across various cities in Australia, has a purchase consideration of A$1.6 billion ($1.4 billion). Wee Hur will still retain a 13% stake in the assets through its subsidiary, Wee Hur (Australia).

Ultimately, purchasing a condominium in Singapore comes with a multitude of benefits. These include a high demand for properties, the potential for capital appreciation, and attractive rental yields. However, it is crucial to carefully assess various factors before making a decision. These may include location, financing options, government regulations, and current market conditions. By conducting thorough research and consulting with experts, investors can make well-informed choices and maximize their profits in Singapore’s ever-changing real estate market. …

The sale of 137 units at Novo Place executive condominium (EC) during the second round of balloting on Dec 16 marked another success for joint venture developers Hoi Hup Realty and Sunway Developments. This phase was specifically open to second-timers, who are buyers that have previously purchased a subsidized flat, regardless of whether it was a new or resale HDB flat, or an EC.

According to Mark Yip, CEO of Huttons Asia, the sale of these units brings the total number of units sold at Novo Place to 444, representing 88.1% of the development. This impressive result was achieved within a month of the project’s launch on Nov 16, making it the top-selling EC project of 2024.

Yip notes that this success reflects a high level of interest from second-timers looking to upgrade their lifestyle. He further adds that many of the buyers are current residents of the West.

For …

According to data from the Urban Redevelopment Authority (URA), developers have sold 2,557 new private homes in November, excluding executive condominiums (ECs). This is a tremendous increase of 246.5% from the 738 new private homes sold in October and a 226% increase compared to units sold in November 2023.

“This surge marks the highest monthly developer sales since March 2013, when 2,793 units (excluding ECs) were sold,” says Christine Sun, chief researcher and strategist at OrangeTee Group. Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors Inc (SRI), adds that this is the first time new home sales have exceeded the 2,000-unit threshold in a single month since March 2013.

The November developer sales figure follows an “unprecedented” number of project launches during the month, says Lee Sze Teck, senior director of data analytics at Huttons Asia. Five private residential projects were launched in November, including the 916-unit …

The Hilton Garden Inn brand continues to expand globally with the opening of its newest property in Beihai, China. The Hilton Garden Inn Beihai Jiafu, located in the bustling seaport city of Beihai, marks the brand’s 100th property in the Greater China region. With 199 stylish guest rooms, the hotel is conveniently situated just 2km from the Beihai High-Speed Railway Station and 6km from the Beihai Fucheng Airport. It is also a short 20-minute drive to the Beihai International Passenger Port.

As an international investor, having a thorough understanding of the regulations and limitations on property ownership in Singapore is crucial. Unlike landed properties that have stricter ownership rules, purchasing condos is generally more lenient for foreigners. However, it is important to note that foreign buyers are required to pay the Additional Buyer’s Stamp Duty (ABSD), with the current rate at 20% for their first property purchase. Despite this added …

CapitaLand Investment Limited (CLI) is expanding its presence in Australia with the purchase of Wingate Group Holdings’ property and corporate credit investment management business for A$200 million ($173 million), plus an additional earn-out. This acquisition will increase CLI’s funds under management (FUM) in Australia by 30%, bringing its total FUM to $8.3 billion or approximately 7% of its total of $115 billion. This aligns with CLI’s goal to reach $200 billion in FUM by 2028.

The decision to invest in Australia comes after CLI divested its key assets in the country a decade ago to focus on the faster-growing Chinese and other overseas markets. The recent acquisition of Wingate confirms earlier reports by the Australian media and follows the announcement of CLI’s A$265 million Australia Credit Program (ACP) in partnership with Wingate.

Wingate is recognized as one of the leading private credit investment managers in Australia and has completed over …

A group of four freehold conservation shophouses situated at 762, 764, 766, and 768 North Bridge Road are up for sale through an expression of interest (EOI) with a guide price of $37 million. These properties are located across two plots of land totaling 5,766 sq ft, translating to an average land rate of $6,417 per square foot.

The first plot features 762 and 764 North Bridge Road, which share a 2,891 sq ft land area and a built-up area of 4,917 sq ft, including a mezzanine level. The remaining two shophouses at 766 and 768 North Bridge Road are situated on a 2,875 sq ft plot with a built-up area of 4,657 sq ft, also including a mezzanine level.

Isabel Sim, associate senior marketing director at Huttons Asia, is the sole marketing agent for the properties. According to her, the usable area of each property can be expanded by …