Month: January 2025

CapitaLand Ascott Trust (CLAS) recently announced its acquisition of two freehold limited-service hotels in Japan for a total of JPY21 billion ($178.5 million). The two hotels, ibis Styles Tokyo Ginza located in Tokyo and Chisun Budget Kanazawa Ekimae in Kanazawa, were purchased at an 8.3% discount to their independent valuation.

The acquisition of these two hotels is expected to increase the distribution per stapled security (DPS) by 1.6% on a FY2024 pro forma basis. The blended net operating income (NOI) yield for the acquisition is estimated to be 4.3% in FY2024. The purchase was funded by JPY-denominated debt and proceeds from the divestment of four properties in Japan.

The ibis Styles Tokyo Ginza is situated in the heart of Tokyo’s shopping and entertainment district, next to the popular Ginza Six retail mall and the iconic Ginza Wako clock tower. The 224-unit hotel is also close to the well-known Uniqlo global …

Mapletree Investments, a Singapore-based real estate development, investment, and capital management company, has made its first foray into the UK’s logistics property market with the acquisition of a new property in Derby Commercial Park, valued at EUR315.1 million ($444.5 million). In addition, the company has also purchased 10 warehouses located in key logistics hubs across Spain.

Spanning a total gross floor area of 256,000 sqm, these acquisitions will be part of Mapletree’s second European logistics-focused fund, in line with the company’s strategy to deepen its presence in the logistics sector and expand its global footprint. The fund is expected to be launched after achieving sufficient scale.

Chief Executive Officer of Mapletree’s European commercial and logistics arm, Ralph van der Beek, says that logistics remains a highly attractive sector that consistently enjoys strong demand from both occupiers and investors. With e-commerce continuing to thrive and companies seeking to secure and extend …

Please revise the attached article on the sale of three duplex penthouses at the luxury condo Turquoise, located at Sentosa Cove. These prestigious waterfront properties are being offered for a combined price of $23 million, with the largest penthouse being a 7,987 sq ft, five-bedroom unit priced at $12 million.

Turquoise, a 91-unit luxury condo situated along the waterway at Sentosa Cove, is currently offering three duplex penthouses for sale, with a combined asking price of $23 million. The largest of the three units, a sprawling 7,987 sq ft five-bedroom duplex, is not only the biggest among the 10 penthouses within the 99-year leasehold waterfront development, but also boasts of a number of luxurious features such as a wine cellar, kitchen, living area, four en suite bedrooms, two utility rooms, and a balcony on its lower level. The upper floor of this unit features a master bedroom suite with a …

Rewritten:

The Botanic on Lloyd, a freehold condo, has set a new psf-price record for private non-landed developments in the period between Jan 3 and Jan 11. This was achieved when a 2,056 sq ft, four-bedroom unit on the second floor was sold for $5.13 million, or $2,493 psf on Jan 7.

This new record surpassed the previous high of $2,339 psf by 6.6%. The previous record was set in October last year when a 1,496 sq ft, three-bedroom unit on the fourth floor was sold for $3.5 million.

Located along Lloyd Road in Prime District 9, The Botanic on Lloyd is a boutique development with 60 apartments and six townhouses. The units are a mix of three- and four-bedroom units ranging from 1,485 sq ft to 3,584 sq ft. The townhouses, which have five bedrooms and two private parking lots each, range from 4,058 sq ft to 4,446 sq …

According to HDB’s quarterly data published on January 24, the resale prices for HDB flats increased by 2.6% in the fourth quarter of 2024. This marks the 19th consecutive quarter of price growth in the resale market. The cumulative price increase for the entire year of 2024 was 9.7%. This is almost double the 4.9% increase in prices seen in 2023.

While the increase in resale prices last quarter was slightly lower compared to the previous quarter’s 2.7% increase, it is still significant. Mohan Sandrasegeran, head of research and data analytics at SRI, attributes the strong growth in resale prices throughout 2024 to the limited supply of flats reaching their Minimum Occupation Period (MOP).

Sandrasegeran also notes that buyers have shown a preference for newer flats and larger flat types such as five-room and executive units, which cater to the needs of growing families. This has put upward pressure on …

A prime residential development site located at Jalan Naung has been recently listed for sale through an expression of interest (EOI) at a price of $8.38 million.

The site, which enjoys a 999-year leasehold and spans a total area of 5,408 square feet, is zoned for residential use within a three-storey mixed-landed area under the Urban Redevelopment Authority’s (URA) Master Plan 2019. This translates to a price of $1,550 per square foot (psf) on the land area.

The demand for condos in Singapore remains consistently high, largely due to the limited availability of land on the small island nation. As the population continues to grow rapidly, there is a scarcity of land for development. As a result, strict land use policies are in place and the real estate market is highly competitive, driving property prices up. This makes investing in real estate, especially condos, a lucrative opportunity with the potential …

When it comes to investing in property in Singapore, it is crucial for foreign investors to have a clear understanding of the regulations and limitations that come with it. In general, foreigners have more freedom to purchase condominiums compared to landed properties, which have stricter ownership rules in place. However, foreign buyers are still required to pay the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20%, for their first property purchase. Despite this extra expense, many are drawn to the stability and growth potential of the Singapore real estate market, making it a popular choice for foreign investment. If you’re interested in owning a piece of this thriving market, consider looking into Singapore Condos for your next investment opportunity.

Radisson Hotel Group’s luxury brand, Radisson Collection, has unveiled its latest addition – a stunning seafront property in Galle, Sri Lanka. The Radisson Collection Resort, Galle boasts 106 luxurious …

Singapore-based engineering consulting firm, Meinhardt, has recently signed a memorandum of understanding with Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development (JOIN). The partnership aims to jointly explore and deliver digital and smart city projects in third-world Asean countries. As stated in a press release dated January 17th, the collaboration will enable the parties to advance innovative and sustainable urban solutions through the exchange of knowledge and resources.

Investing in a condominium requires careful consideration of the property’s maintenance and management. Along with the initial purchase price, potential buyers must also factor in the maintenance fees that cover upkeep for common areas and facilities. Although these fees may increase the overall cost of ownership, they are crucial in maintaining the property’s value and ensuring its good condition. To ease the burden of management, investors can hire a property management company to handle the day-to-day operations of their condos, …

According to a press release dated January 20, Minister for National Development Desmond Lee has announced the completion of the last two delayed projects from HDB due to the pandemic.

The two BTO (Build-to-Order) projects, Punggol Point Cove (Phase 2) and Kempas Residences, signify the end of the pandemic delays in HDB’s housing projects. In total, 92 projects have delivered over 75,800 new flats to Singaporeans in the past five years.

In 2024, HDB completed 22 housing projects, out of which 17 were delayed due to the pandemic. The remaining four projects were finished on time, with the exception of one that was delayed for non-pandemic reasons.

These 22 projects included two Shorter Waiting Time (SWT) projects, Parc Glen at Tengah and Grove Spring at Yishun, which were completed in less than three years. These SWT projects comprised a total of 1,995 flats. The other projects had a waiting period …