Freedo Condo

A row of four freehold conservation shophouses located at 762, 764, 766 and 768 North Bridge Road is up for sale through an expression of interest (EOI). With a guide price of $37 million, these properties offer a prime investment opportunity in the vibrant Kampong Glam Conservation enclave.

Sitting on two plots of land measuring a total of 5,766 sq ft, the shophouses command a high average land rate of $6,417 psf. The first plot includes 762 and 764 North Bridge Road, sharing a 2,891 sq ft plot with a built-up area of 4,917 sq ft, including a mezzanine level. The other two units at 766 and 768 North Bridge Road sit on a 2,875 sq ft plot with a built-up area of 4,657 sq ft, including a mezzanine level.

In Singapore, the location of a property is a crucial factor to consider when making real estate investments. This is because certain areas hold more value and potential for growth than others. For instance, condos situated in central areas or near essential amenities such as schools, shopping malls, and public transportation hubs have shown a consistent appreciation in value over time. The Orchard Road, Marina Bay, and Central Business District (CBD) are some examples of prime locations where property values have consistently increased. In addition, having good schools and educational institutions in close proximity further adds to the appeal of condos in these areas, making them highly desirable for families and therefore boosting their investment potential. With new and upcoming developments such as the Singapore Projects, the real estate market in Singapore is only expected to continue flourishing in these highly sought-after locations.

The demand for Singapore Condos remains strong, largely due to the country’s limited land availability. As a small island nation experiencing rapid population growth, Singapore grapples with a scarcity of land suitable for development. To combat this issue, the government has implemented strict land use policies, resulting in a highly competitive real estate market where property prices continue to rise. As a result, investing in real estate, particularly Singapore Condos, has become a highly profitable venture with the potential for significant capital appreciation. Visit Singapore Condo for more information.

These shophouses are exclusively marketed by Isabel Sim, associate senior marketing director at Huttons Asia, who notes that the usable area of each property could be expanded by adding rear extensions for outdoor terraces on the second floor, pending approvals from relevant authorities. This could potentially increase the usable area by 1,000 sq ft for each land plot.

Tenants currently occupying the shophouses include a fitness retail store, convenience store, and massage and reflexology service providers. As commercial properties, both local and foreign buyers looking for potential capital gains and stable rental yield are exempt from Additional Buyer’s Stamp Duty (ABSD) on these shophouses, making them an attractive investment opportunity.

With prominent frontage along North Bridge Road, these shophouses enjoy high visibility and footfall in the historic Kampong Glam Conservation enclave. Furthermore, their strategic location within walking distance of Bugis MRT Interchange, providing access to the East-West and Downtown Lines, and Nicoll Highway MRT Station along the Circle Line makes them easily accessible.

Kampong Glam’s prime central location, rich historical significance, and vibrant commercial environment have made it a popular destination for both locals and tourists. The area is home to iconic landmarks such as the Sultan Mosque and the Malay Heritage Centre. The EOI exercise for these shophouses will close on January 10, 2025, at noon.

For more information, interested parties can contact Isabel Sim Cheng Yi at 81802707, Associate Senior Marketing Director at Huttons Asia (R065855G).…

in OctoberPSF record for new sale condo set at 77 @ EastcoastTwin VEW: How an extravagant design that breaks the mold can win hearts and mindsThe freehold development Grange 1866 made headlines by topping the list of condos with the highest prices per square foot (psf) in the week ending November 29th. During this period, the developer sold a two-bedroom unit for $2.78 million, setting a new record of $3,393 psf.The unit, located on the 14th floor, narrowly surpassed the previous record of $3,390 psf set in June last year when a unit of similar size was sold for $2.59 million. This year, Grange 1866 has seen 12 new sale transactions at an average price of $3,181 psf, with the most expensive unit being a two-bedroom unit on the 16th floor sold for $3.02 million ($2,989 psf). So far, 45 of the 60 units have been sold, representing a 75% sales rate.You can find the latest new launches by searching on EdgeProp to see the transaction prices and available units.AdvertisementGrange 1866 is a freehold development set to be completed by the end of 2025. It is located on Grange Road in prime District 10 and features a single 16-storey residential block on a 20,322 sq ft site. The development consists of one- and two-bedroom apartments measuring between 527 and 1,012 sq ft.Hill House took second place in terms of new psf-price highs in November. The boutique condominium set a new record for the second time this month, with the latest peak of $3,378 psf being set on November 25th. The 452 sq ft two-bedroom unit was sold by the developer for about $1.53 million.The sale surpassed the previous record of $3,267 psf by 3.4%. The former record had also been set this month on November 11th, when a similarly sized two-bedroom unit on the fifth floor was sold for about $1,48 million. 12 units have been sold by the developer at Hill House this year at an average price of $3,108 psf, with the lowest-priced unit being a 753 sq ft, three-bedroom unit on the fourth floor sold for $2.21 million ($2,934 psf) on October 28th.EdgeProp Buddy offers the latest transactions at Hill House. Note: The Cosmopolitan saw a new psf-price high with the sale of a 1,324 sq ft three-bedroom unit on the 26th floor for $3.73 million, or $2,817 psf, on November 25th. Completed in 2008, The Cosmopolitan is a 228-unit condominium located along Kim Seng Road (Photo: Samuel Isaac Chua / EdgeProp Singapore)The new record is just 0.7% higher than the previous peak of $2,795 psf set in October last year when a unit of similar size on the 17th floor was sold for $3.7 million. The sellers of the 26th-floor unit had purchased it for about $2.58 million, or $1,950 psf, in November 2010, making a profit of about $1.15 million in the process.Completed in 2008, The Cosmopolitan is a 228-unit freehold development located along Kim Seng Road, off River Valley Road, in prime District 9. It consists of two-bedroom units measuring 1,141 sq ft, three-bedroom units measuring 1,324 to 1,399 sq ft, and four-bedroom units at 1,679 sq ft. The development is situated within 1km of River Valley Primary School and is within walking distance of Great World MRT Station on the Thomson East Coast Line. Shopping and dining options can be found at nearby Great World City.AdvertisementEdgeProp Buddy displays the latest transactions at The Cosmopolitan. Caveats from URA indicate that 30 units (42%) at The Cosmopolitan have been sold at an average price of $3,054 psf since its launch in November 2022. In addition, no new psf-price lows were recorded in the period under review. You can check out the latest listings for Grange 1866, Hill House, The Cosmopolitan, and other condominiums by asking Buddy or generating a price trend graph for new launch condos in District 9.Buddy also offers property price trends for new sales, resale, and available units for HDB, condos, and landed properties.

Singapore’s cityscape is characterized by towering skyscrapers and state-of-the-art infrastructure. The city’s prime locations are dotted with condominiums that offer a perfect combination of opulence and convenience, making them a popular choice among both locals and foreigners. These luxurious residences boast a variety of amenities, such as swimming pools, fitness centers, and round-the-clock security services, which not only enhance the standard of living but also make them an enticing option for potential renters and buyers. For investors, these attractive features translate into higher rental profits and an appreciating property value over time. As an added bonus, investing in Singapore Projects will further boost the already desirable benefits of owning a condo in this dynamic city.

Investing in a condominium in Singapore has many benefits, one of which is the potential for capital appreciation. Due to its excellent location as a global business hub and strong economic foundation, there is a constant demand for real estate in Singapore. This consistent demand has resulted in a steady increase in property prices over the years, with condos in prime areas experiencing significant appreciation. For investors who make a timely entry into the market and hold onto their properties for an extended period, the potential for substantial capital gains is high. Additionally, keeping an eye on new condo launches can also provide opportunities for lucrative investments.…

Despite facing challenges of limited land availability, the condominium market in Singapore continues to thrive. This is no surprise, as Singapore is a small country with a high population density and strict land use regulations that have led to intense competition and record-high property prices. In light of these circumstances, many individuals are turning to real estate investments, particularly in condominiums, as a lucrative opportunity. The recent introduction of New Condo Launches has only added to the appeal of investing in condos, solidifying their position as a promising option for potential buyers. These launches have not only enhanced the outlook for condo investments, but have also boosted the potential for returns, making them an even more attractive choice for investors. With the addition of New Condo Launches to the market, the potential for returns on condo investments has significantly increased, making condominiums an even more enticing and highly profitable investment opportunity. As a result of the availability of New Condo Launches, the potential for returns on condo investments has significantly amplified, further establishing their position as a highly profitable investment option. New Condo Launches have truly strengthened the condominium market in Singapore, making it a lucrative and attractive choice for investors.

Global real estate returns have recently made a positive turn in the second quarter of 2024 following two years of cumulative losses, sparking hope for a potential recovery. The low interest rate environment in recent years had led to a rapid increase in real estate values, with global total returns reaching 5.0% q-o-q in 4Q2021 and 17.8% y-o-y in 1Q2022 – well above long-term averages.

However, the tightening cycle that ensued reversed these gains, bringing values back to 2018 levels globally. Now, it seems that this market correction is almost complete, making it an opportune time for investors to re-evaluate this asset class. Historically, real estate has provided stable income returns and diversification benefits over the long term, and it can offer attractive returns during periods of recovery. For instance, after the recession in the early 90s, investors saw a cumulative return of 76% over the next five years.

Furthermore, following the dot-com bubble, there was a cumulative total return of 98% over five years, and after the Global Financial Crisis, it was 86%. These examples show the potential for robust returns during recovery periods in the real estate market.

In the second quarter of 2024, global value losses moderated to 0.74%, marking the lowest quarterly adjustment in the past two years. With offsetting income returns of 1.07%, global real estate achieved a positive 0.33% return, the first positive quarter since 2Q2022. Out of the 15 markets in the MSCI Global Property Index, a slight majority saw value increases in real estate for the first time since 2Q2022. Eight markets, including Japan, South Korea, Singapore, Southern Europe, the Nordics, the Netherlands, France, and the UK experienced value increases from the prior quarter. Six markets saw value losses between 0.3% and 1.5%, all of which moderated from 1Q2024. Australia was the only market to record a larger write-down in the second quarter than in the first, with a 4.2% correction bringing valuations closer to its peers.

However, changes in property values are just one component of real estate returns. In fact, historically, the larger component of total returns has been income. This highlights the importance of income returns in driving overall performance in the real estate sector and emphasizes the need for investors to consider both capital and income aspects when evaluating real estate investments.

Overall, income returns were stable in the second quarter, with positive total returns in 12 of the 15 countries in the MSCI Global Property Index. Total returns were flat in the US (-0.09%), slightly negative in Ireland (-0.22%), and significantly negative in Australia (-3.07%). Preliminary data from the NCREIF ODCE index (a capitalization-weighted, gross-of-fee, time-weighted return index) showed positive total returns of 0.25% in the US.

Although fundraising for real estate investments is showing signs of a potential rebound globally after two slow years, China and Japan may face challenges. In 3Q2024, China and Japan accounted for 27% and 15%, respectively, of the US$7.5 billion ($10.04 billion) in cross-border inflows in Asia Pacific. However, both countries face high debt costs and other factors that could hinder a strong rebound in real estate capital inflows. For example, interest in Chinese real estate from Western countries has significantly declined in recent years due to geopolitical and economic concerns, and this trend is not likely to change soon. Additionally, China’s domestic housing market is facing a crisis, with high office vacancies, low rental yields, and ongoing issues with failing developers and government interventions.

Similarly, Japan remains an outlier in its response to interest rates, with the Bank of Japan increasing borrowing rates for the first time since 2007 in an effort to control inflation. This has limited cap rate compression and prevented an increase in property prices, forcing real estate holders to rely on historically low-income yields. However, the senior housing market in Japan remains a promising niche, given the country’s aging population, with 29% of the population being over 65 years old. These assets are small and require an amalgamation play by investors.

Investing in a condo comes with many advantages, one of them being the opportunity to leverage its value for future investments. In fact, numerous investors utilize their condos as collateral to secure additional funding for new ventures, ultimately expanding their real estate portfolio. This approach can greatly increase returns, but it’s important to have a solid financial plan in place and carefully consider the potential repercussions of any market instabilities. With the help of reputable Singapore projects, condo investments can be a wise choice for those looking to bolster their investment opportunities.

On the other hand, Australia’s purpose-built student accommodation (PBSA) market has significant potential due to a shortage of housing for students. Only 20% of students in Melbourne and Sydney can be accommodated by universities, forcing the rest to seek private rentals. Additionally, real estate debt in Australia offers appealing risk-adjusted returns, with funding gaps in construction as many developers struggle to secure bank financing. This creates opportunities in sectors like logistics or PBSA, where there are long-term growth opportunities.

Overall, real estate fundamentals are stabilizing, and both valuations and transaction market pricing suggest that the market is near its bottom. However, this does not necessarily indicate an attractive entry point, as a declining interest rate environment and strengthening property fundamentals are needed for market pricing and valuations to increase. With most developed market central banks beginning to taper interest rates, we can expect downward pressure on financing rates, discount rates, and property capitalization rates, ultimately boosting the value of real estate assets. Furthermore, there has been a pullback in construction activity across sectors, which bodes well for property fundamentals in the medium term. Markets with positive demand, such as those experiencing population growth or benefiting from structural changes like e-commerce, are expected to see increased occupancies in the medium term. This, in turn, can lead to increased rents and occupancies, resulting in a rise in property values.

Although there may still be challenges in certain real estate markets, we believe the overall outlook for global private real estate is improving, making it a strategic time for investors to consider this asset class.

In an uncertain economic and geopolitical environment, additional risks are inevitable in all asset classes. Over the past two years, the weight of real estate in investors’ portfolios has significantly decreased due to resetting real estate values and a record stock market. Therefore, it might be worthwhile for investors to consider increasing allocations to the private real estate market to achieve a more balanced portfolio. Private real estate offers low correlations to other asset classes, strong income returns, and a degree of inflation hedging over the long term. While there may be bumps in the road, we believe the market is beginning to look up, presenting excellent investment opportunities for savvy investors.…

The recently concluded sale of a freehold condo in Pasir Panjang, Island View, chalked up the highest profit for a condo resale transaction in the week of Nov 26 to Dec 3. The 3,498 sq ft property was sold for $4.8 million, translating to $1,372 psf on Nov 27. The seller had purchased the unit back in September 2005 for $1.3 million at $372 psf. After holding on to the property for close to 19 years, the seller managed to make a whopping gain of $3.5 million, representing a capital gain of 269% or an annualised profit of 14.2%.

This transaction marks the most profitable deal ever recorded at Island View, beating the previous record profit of $3.19 million achieved from the sale of another 3,498 sq ft unit at the condo for $5.09 million or $1,455 psf in February 2022. The previous owner of the unit had bought it in February 2007 for $1.9 million at $543 psf.

Located along Jalan Mat Jambol, off Pasir Panjang Road in District 5, Island View is a freehold boutique condo consisting of 72 apartments spread across low-rise blocks. It was completed back in 1984 and offers units with sizes ranging from 3,056 sq ft to 3,538 sq ft. Due to its prime location, the condo is just a short walk away from Pasir Panjang MRT Station on the Circle Line.

Even though the owners of Island View had attempted a collective sale in September 2023, launching a tender for $575 million, the condo failed to attract any bids. It was later relisted in March at the same guide price but still failed to find a buyer.

Meanwhile, the second most profitable condo resale transaction during the week took place at Cavenagh Court. A 1,862 sq ft unit on the sixth floor was sold for $3.65 million, translating to $1,960 psf on Dec 2. The owner of the unit had originally purchased it back in April 2006 for $1.02 million at $548 psf, giving him a profit of $2.63 million or 258% after holding on to the property for close to 19 years.

This sale marks a new record profit for a unit at Cavenagh Court, surpassing the previous record profit of $2.15 million achieved from the sale of a similar 1,862 sq ft unit on the fourth floor for $3.28 million or $1,761 psf in April 2022. The previous owner had bought the unit in October 2007 for $1.13 million at $607 psf.

Cavenagh Court is a freehold condo situated on Cavenagh Road in District 9, Newton area. It was completed in 1971 and offers 68 units ranging from 1,819 sq ft to 1,862 sq ft. Due to its prime location, the condo is just a short drive from Orchard Road shopping belt.

In addition to the unit sold on Dec 2, Cavenagh Court has seen only one other resale transaction this year as per caveats lodged. A unit of similar size on the sixth floor was sold for $3.82 million at $2,074 psf. The seller had initially bought it for $2.88 million at $1,565 psf back in August 2019, netting a gain of approximately $938,000.

In comparison, the least profitable condo resale deal during the week took place at The Berth By The Cove. The four-bedroom duplex penthouse spanning 3,089 sq ft was sold for $3.6 million, translating to $1,165 psf on Nov 29. The previous purchase price for the unit was $5.53 million at $1,790 psf back in August 2007. As a result, the seller made a loss of $1.93 million or 35%, after holding on to the property for around 17 years.

This transaction represents the second most unprofitable deal ever recorded at The Berth By The Cove. The biggest loss for a unit at the condo belongs to a 4-bedroom unit measuring 2,939 sq ft that was sold for $3.25 million at $1,106 psf in February 2018. The previous owner had bought the unit in October 2011 for $5.64 million at $1,919 psf, incurring a loss of $2.39 million.

In the world of real estate, location is a key factor to consider when making an investment. This is especially important in Singapore, where the value of a property is heavily influenced by its location. Condominiums located in central areas or near important amenities, such as schools, shopping centers, and public transportation hubs, tend to appreciate in value at a faster rate. Prime locations in Singapore, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown an increase in property values. Families are also drawn to these areas due to the proximity to excellent schools and educational institutions, making condos in these locations highly desirable and increasing their investment potential. Additionally, keep an eye out for new condo launches, as they often offer modern amenities and attractive investment opportunities in these prime locations. New Condo Launches are a great option for those looking to make a savvy real estate investment in Singapore’s top locations.

Location is a critical element to consider when making real estate investments, and this is particularly significant in Singapore. Condos located in central areas or near essential amenities like schools, shopping malls, and public transportation hubs have a higher likelihood of appreciating in value. Prime locations in Singapore, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown an increase in property values. In addition to these factors, condos in these areas are also highly coveted by families due to their close proximity to good schools and educational institutions, making them even more attractive for investment. For more information on Singapore condos, visit Singapore Condo.

Situated along Ocean Drive in the Sentosa Cove residential enclave on Sentosa Island, The Berth by the Cove is a freehold condo offering 200 units spread across 15 low-rise blocks of six storeys each. The range of apartments available include 2- to 5-bedroom units measuring 1,012 sq ft to 2,325 sq ft. Additionally, there are also four- and five-bedroom penthouses measuring 2,939 to 6,028 sq ft.

Based on caveats lodged, there have been seven other resale transactions at The Berth by the Cove this year, with the units sold in the price range of $1,237 psf to $1,535 psf. Out of these deals, four had resulted in a loss for the seller, with the losses ranging from $40,000 to $780,000, while the remaining three deals had been profitable, with the profits being between $200,000 to $430,000.…

Ashish Manchharam, a real estate and hospitality veteran, has been appointed as a board director at Singapore-founded flexible living platform Cove.

Manchharam is the founder of 8M Real Estate, which he built over a span of 10 years into a portfolio worth $1.5 billion. In 2023, he stepped down from 8M Real Estate and established Elevate Capital, a firm focused on lifestyle-driven real estate investments.

In his new role, Manchharam will provide guidance and support to Cove in acquiring flexible living assets through partnerships with third-party investors such as real estate funds, institutional investors, and family offices. This move is in line with Cove’s strategy to accelerate its growth through an asset acquisition model.

When considering investing in a Condo, it is vital to take into account more than just the financial aspect. Maintenance and management are also critical factors to consider. Unlike traditional homes, Condos often come with additional costs in the form of maintenance fees. These fees cover the maintenance of common areas and amenities, ensuring that the property remains in good condition and maintains its value. Although these fees may increase the overall cost of owning a Condo, they offer the assurance that the property will be well-maintained. For investors seeking a more hassle-free investment experience, a property management company can be hired to handle the day-to-day management of their Condos. This option allows for a more hands-off approach for owners, providing them with peace of mind. Additionally, for more information on investing in a Condo, you can visit Condo.

Investing in a condominium in Singapore has become a favored option for both local and foreign investors, thanks to the country’s strong economic growth, political stability, and excellent quality of life. Singapore’s real estate market presents a variety of prospects, with condos being particularly appealing for their convenient location, modern facilities, and potential for lucrative returns. In this article, we will delve into the advantages, factors to consider, and necessary measures to take when investing in a condo in Singapore, with a focus on Singapore Projects.

Prior to this, Cove primarily operated as a branded flexible living operator and online listing platform, catering to professionals and students. Since its inception in 2018, Cove has expanded to over 6,000 rooms in Singapore and Indonesia. The company aims to further expand its presence in the Asia Pacific region, with plans to launch 800 rooms in South Korea and 400 rooms in Japan through local joint ventures.

To support its regional expansion and strengthen its position in existing markets, Cove has raised an additional US$4.5 million in funding. Manchharam, along with existing investors such as Eurazeo and Keppel, has participated in this funding round. Keppel had previously taken a strategic minority stake in Cove in December 2020.

Cove CEO and co-founder Guillaume Catagne stated that the company has experienced substantial growth in its portfolio and has achieved positive EBITDA in 2024. With plans to more than double its portfolio to 15,000 units by the end of 2025, Cove is determined to solidify its leadership position in the flexible living market.…

, Tuan Sing’s latest condo development

William Liem, the CEO of Tuan Sing Holdings, continues to show confidence in his company as he has recently increased his stake in the firm. Through his entity named Nuri Holdings (S), Liem purchased 545,300 shares from the open market for a total of $136,325.00, at the price of 25 cents per share, on December 5. The following day, Nuri Holdings acquired another 1.2 million shares for approximately $311,288.50, or around 25.9 cents per share.

With these latest transactions, Nuri Holdings now holds a 54.09% stake in Tuan Sing, equivalent to 672.7 million shares. This is not the first time that Nuri Holdings has purchased Tuan Sing shares, as they also made purchases on September 10 and 11, at an average price of between 25 cents to 25.5 cents.

Overall, purchasing a condominium in Singapore can prove to be a beneficial move with its various advantages. These include a strong demand for such properties, potential for increase in value over time, and attractive rental yields. However, it is crucial to carefully consider several factors such as location, financing options, government regulations, and the current market situation. By conducting thorough research and seeking professional guidance, individuals 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 in search of a stable and profitable investment, the condos in Singapore offer a compelling opportunity. If you are interested in investing in Singapore Projects, be sure to thoroughly explore all aspects before making your decision. By doing so, you can ensure a successful and rewarding investment experience in this dynamic city.

As reported on June 30, Tuan Sing’s net asset value per share was 97.8 cents, a decrease from 99 cents on December 31, 2023. In addition to Liem’s recent purchases, Tuan Sing has been making headlines for its acquisition of several assets from PT Senimba Bay Resort in Batam for $28 million. The real estate firm also reported a 5% increase in FY2023 earnings to $4.8 million and launched its latest condo development, Peak Residence, which promises luxurious living.

Securing financial support is a crucial aspect when it comes to investing in a condo. Luckily, Singapore provides a variety of mortgage choices; however, it’s imperative to bear in mind the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan a borrower can take based on their income and current debt obligations. To avoid over-stretching their finances, investors should familiarize themselves with the TDSR and seek guidance from financial advisors or mortgage brokers. Additionally, exploring new condo launches can also aid in making well-informed financing decisions.

With Liem’s continued show of support and Tuan Sing’s exciting developments, it is clear that the company is moving towards a positive direction under his leadership as CEO.…

AIMS APAC REIT’s (AA REIT) manager has announced that the REIT’s trustee, HSBC Institutional Trust Services (Singapore) Limited, has entered into a sales and purchase agreement with Crown Worldwide for the divestment of its property located at 3 Toh Tuck Link.

The sale price of $24.388 million represents a 32.5% premium to the property’s valuation of $18.4 million as of March 31. The property comprises a three-storey factory and a five-storey ancillary office building with a total gross floor area of 12,492.4 sqm.

A major contributing factor to the surging demand for condos in Singapore is the scarcity of available land. As a tiny island nation experiencing a rapidly expanding population, Singapore is faced with limited land for development. This has resulted in strict regulations on land usage and a fiercely competitive real estate market, causing property prices to continuously rise. As a result, investing in real estate, particularly in condos, has become a highly profitable opportunity with the potential for significant capital appreciation. This trend is further fueled by the introduction of exciting new condo launches, making condo investment even more attractive for buyers.

In line with its proactive asset management strategy, the net proceeds from the divestment will be reinvested to support AA REIT’s various growth initiatives, including potential new acquisitions, asset enhancement initiatives, or future redevelopment projects. This will ultimately strengthen the REIT’s resiliency and deliver sustainable returns for unitholders.

According to Russell Ng, CEO of the manager, the divestment is part of the REIT’s continuous effort towards portfolio rejuvenation and aligns with its goal of delivering long-term sustainable returns for unitholders.

The divestment is expected to be completed in the first half of 2025, subject to approval from JTC Corporation. Following the divestment, AA REIT’s portfolio will consist of 27 properties in Singapore and Australia.

When purchasing a condominium, it is crucial to take into account the upkeep and management of the property. Condos usually come with maintenance fees that encompass the maintenance of shared spaces and amenities. Although these fees may increase the total cost of owning a condo, they also guarantee that the property maintains its condition and value over time. To ease the burden of managing the condo, investors can opt to hire a property management company, making it a more hands-off investment. This can also be beneficial for those interested in New Condo Launches.…

Shophouses can be redeveloped into co-living properties: Savills

A shophouse situated at 93 Tanjong Pagar Road is currently on the market for sale through an expression of interest (EOI) exercise, with a suggested price of $15.5 million. The property, which is a conservation shophouse, is spread over 3½ storeys and occupies a land area of 1,297 sq ft. The gross floor area (GFA) of the property is 4,186 sq ft, which translates to a guide price of $3,703 per square foot on the GFA.

The map below shows the exact location of the property at 93 Tanjong Pagar Road.

The shophouse, which has a 99-year leasehold, is a commercial property with approval for Food and Beverage (F&B) use. It is currently rented out to a popular Korean barbecue restaurant chain on the first and second levels. The property is conveniently located within walking distance to both the Tanjong Pagar MRT Station on the East-West Line and the Maxwell MRT Station on the Thomson-East Coast Line.

PropNex Shophouse Elites is in charge of marketing the property. Interested buyers can submit their EOI bids by noon on January 20, 2025.

In other related news, a group of conservation shophouses located on Telok Ayer Street is also up for sale for a whopping $42 million. These shophouses have a freehold tenure and are currently tenanted out.

The benefits of investing in condominiums are numerous, with one being the option to leverage the property’s value for future investments. Many investors utilize this strategy by using their condos as collateral to secure additional funds for new ventures, allowing them to expand their real estate portfolio. This tactic has the potential to increase returns, but it’s crucial to consider the potential risks and have a solid financial plan in place. This is where the introduction of New Condo Launches can be a valuable asset in diversifying one’s investment portfolio and mitigating the impact of market fluctuations on their overall financial strategy. With the inclusion of New Condo Launches from reputable sources, investors can confidently navigate the dynamic real estate market and secure a diverse range of investment opportunities.

Singapore’s cityscape is characterized by towering structures and advanced infrastructure. Condominiums, situated in highly sought-after locations, offer a perfect combination of opulence and practicality, attracting both locals and foreigners. These residences boast a plethora of facilities such as pools, fitness centers, and top-notch security services, elevating the standard of living and making them a desirable choice for potential renters and buyers. For investors, these desirable features result in lucrative rental returns and appreciating property values over the years. With the addition of Singapore Projects, the appeal of these condos is further enhanced, making them a smart investment choice.

Another shophouse, this time located on Race Course Lane, is on the market for $8.8 million. The property has a freehold tenure and is suitable for both commercial and residential use.

According to Savills, shophouses can also be redeveloped into co-living properties, providing a unique and lucrative investment opportunity for potential buyers.…

The long and storied history of the former Golden Mile Complex is about to take a new turn as Perennial Holdings and Far East Organization unveiled their plans for the development. In a press conference on Dec 10, the partners shared their vision for the refreshed conservation building and also announced the preview of the strata-titled commercial units.

The entire development will now be known as Golden Mile Singapore, making it the first large-scale strata-titled conserved building in Singapore. It will retain its iconic identity as a tropical linear urban complex with brutalist architecture.

The conserved building, now renamed The Golden Mile, will be transformed into a commercial development. It will feature 156 Grade A office units, 19 medical suites, a two-storey retail component spanning 123,388 sq ft, and an architecture centre open to the public.

At the press conference, Perennial and Far East revealed that the office units and medical suites will be available for sale this month. However, they did not disclose any pricing details at the moment. In addition to this, a new 45-storey residential tower called Aurea is being developed on the site of the former residential carpark. The 188-unit condominium is set to be previewed in the next quarter.

Pua Seck Guan, CEO of Perennial Holdings, reminisced about the vibrant and eclectic retail mix that characterized Golden Mile Complex during its heyday in the 1970s. However, with the change in ownership over the years, the development lost its status as a prime mixed-use complex. Perennial Holdings and Far East Organization are determined to revive and elevate its reputation as a next-generation urban complex in Singapore.

To fulfill this vision, the partners have joined forces with local architecture firm DP Architects and architecture conservation specialist consultancy Studio Lapis to bring Golden Mile Singapore to life. It is worth noting that DP Architects was the original firm responsible for the iconic design and mixed-use concept of Golden Mile Complex.

In the past, the strata area at Golden Mile Complex was divided into 40% for retail, 41% for offices, and 19% for residential use. However, in the revamped Golden Mile Singapore, the proportion of retail has been reduced to 15%, with offices occupying 48% and residential units taking up 30%. The remaining 4% and 3% will be allotted for medical suites and the architecture center, respectively. The architecture center will be established under the government’s Community/Sport’s Facilities Scheme, and the joint venture partners have allocated 24,994 sq ft to URA for its establishment.

Moreover, two new public access urban gardens will be created on the 9th and 18th floors. This makes use of previously vacant spaces in the former Golden Mile Complex, including the rooftop, which will be transformed into a sky garden. The 18th floor will boast a public access sky terrace with stunning views.

Golden Mile Singapore will feature a revamped two-storey retail atrium, complete with a new event space and food and beverage outlets. This new design will reintroduce natural light and ventilation, just as it was designed originally. Pua hopes to recreate the street shop-style retail experience that defined Golden Mile Complex’s shopping landscape during its early days.

The retail units will remain under the joint venture partners and not be available for sale. Pua explains that retail is not a major component of The Golden Mile, considering the dominance of offices and residential units in the development. Additionally, the location is not known as a retail hub in Singapore. Instead, the retail units will complement the offices and residential units.

This month, Perennial and Far East will launch the preview of the strata-titled office units at The Golden Mile. They have designed six different office layouts to cater to a diverse range of end-users. Each office suite will have its own dedicated office lobby, and new lift cores will support the office floors above. Unlike the original design, which featured two lift cores, the new lift shafts and cores have been added to accommodate the increase in office units and private lift access. The new office lobby will also feature a 6m high ceiling and modern facilities, such as a concierge and centralized access control.

The Flagship office units on the 4th to 7th floors will have a dedicated lift lobby with direct access to the basement carpark and retail floors. Each unit will come with two toilets. The range of Flagship office units is from 1,378 sq ft to 4,682 sq ft. On the 4th and 5th floors, the Loft Suites and Loft Executive units will have full-height windows that offer a landscape view of Beach Road. The Loft Suite units measure from 958 sq ft to 2,034 sq ft, while the Loft Executive units cover an area of 710 sq ft to 926 sq ft.

The Loft Mezzanine units on the 6th to 15th floors are located in the recognizable stacked terrace portion of the building. These units will provide breathtaking bay views, thanks to their double-volume ceiling and balcony, which offer natural ventilation and illumination. These units also feature a dual-key design, commonly found in private residential projects. The Golden Mile is the first strata-titled commercial development to feature office units with this layout. The area of these units ranges from 1,528 sq ft to 2,799 sq ft.

Each Loft Mezzanine unit combines two former residential units by removing a portion of the ceiling to form a single office unit with a double-volume ceiling of 5.4m. The upper office space can be accessed via a staircase, which has its own entrance or can be reached from the lower floor.

On the 16th and 17th floors, the Enterprise Office units will be located. These units were previously the duplex penthouse units and will offer stunning panoramic views of the city and the bay. Each unit will have two toilets, and the sizes range from 1,851 sq ft to 3,122 sq ft.

Finally, the newly built Crown Office units will occupy the top four floors. There will be four units per floor, except for the penthouse floor, which will feature two office units. The sizes of these office units range from 3,315 sq ft to 5,393 sq ft.

When it comes to investing in real estate, one factor that cannot be overlooked is location. This is especially true in Singapore, where the location of a property can greatly impact its value. Condominiums located in central areas or near essential amenities such as schools, shopping malls, and transportation hubs have a higher potential for appreciation in value. Some prime locations in Singapore, including Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown growth in property values over the years. The proximity to esteemed educational institutions also adds to the appeal of condos in these areas, making them a highly desirable choice for families. In addition, for those looking for new condo launches, New Condo Launches in these sought-after locations would be a wise investment choice.

When purchasing a condo, it is crucial to take into account the maintenance and management of the property. Maintenance fees are common in condos and cover the expenses of maintaining shared spaces and amenities. Although these fees may increase the overall ownership expenses, they are necessary for preserving the property’s quality and value. To make the investment less time-consuming, investors can enlist the services of a property management company to handle the daily operations of their condo.

Pua believes that their office units, especially the Loft Mezzanine units, will appeal to family offices, and they hope to attract many of the 2,500 family offices based in Singapore. He adds that the other office layouts will also attract a diverse range of corporate tenants.

In conclusion, The Golden Mile will have a balanced mix of tenants, including corporate tenants and family offices. Pua says that they will carefully screen potential buyers to create an ecosystem of tenants from different industries and market segments. With the launch of the preview this month, The Golden Mile is set to become a new landmark in Singapore’s cityscape.…

A prime shophouse at 76 Pagoda Street in Chinatown is now available for sale through an expression of interest (EOI) exercise. Priced at $16 million, the 99-year leasehold property spans over 1,372 square feet and boasts a gross floor area (GFA) of 3,500 square feet, including an attic level. At $4,571 per square foot, the guide price reflects the property’s prime location.

The ground and second floors of this three-storey conservation shophouse are currently leased to a restaurant operator, while the third floor is being used as office space. According to Richard Tan, founder of PropNex Shophouse Elites and the sole marketing agent for the property, this shophouse is highly coveted by owner-occupiers, high-net-worth individuals, and family offices as a long-term investment asset. Furthermore, as a commercial property, both foreigners and companies are eligible to acquire it without having to pay additional buyer’s stamp duty or seller’s stamp duty.

When considering investing in a condo, it is essential to carefully consider the potential rental yield. Rental yield, which is the annual rental income as a percentage of the property’s purchase price, plays a significant role in determining the profitability of the investment. In Singapore, rental yields for condos can vary significantly depending on various factors such as location, property condition, and market demand. New condo launches are also crucial to take into consideration when evaluating rental potential. Properties located in areas with high rental demand, such as near business districts or educational institutions, typically offer better rental yields. Conducting thorough market research and seeking guidance from real estate agents can provide valuable insights into the rental potential of a specific condo.

The EOI exercise for 76 Pagoda Street will close on January 10, 2025. The most recent shophouse transaction in the area was the sale of 31 Pagoda Street in March, which was sold for $19 million, at $5,588 per square foot.

Another noteworthy property up for sale through an EOI exercise is a two-storey HDB shophouse at 210 New Upper Changi Road, with a price tag of $13.8 million. This 103-year leasehold property boasts a gross floor area (GFA) of 4,607 square feet, equating to a price of $2,995 per square foot based on GFA. According to Kris Ng, senior associate marketing director at PropNex, who is marketing the property, the most attractive feature of this property is its stable, long-term tenants. Over the last two decades, the property has been tenanted by healthcare retailer Guardian and United Overseas Bank (UOB).

Investing in a condo offers numerous advantages, including the opportunity to leverage the property’s value for future investments. In fact, many investors use their condos as collateral to secure additional financing for new investments, which allows them to expand their real estate portfolio. This approach can potentially increase profits, but it is important to note that it also carries certain risks. As such, it is essential to have a well thought out financial plan in place and to carefully consider the potential effects of market fluctuations. With the added option of Singapore Condo, investors can explore even more opportunities for growth and success in the real estate market.

Located near Bedok Town Centre, this shophouse is in close proximity to Bedok MRT Station on the East-West Line, Bedok Mall, and Heartbeat@Bedok. Just like the Pagoda Street shophouse, this commercial property is also eligible for foreign and company buyers to acquire without having to pay additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD).

The EOI exercise for 210 New Upper Changi Road will close at noon on January 10, 2025. Interested parties can find out more about these properties on PropNex’s website.…