Freedo Condo

Is it a Good Deal?: $301,000 for a four-room HDB flat in Tampines with remaining lease of 64 yearsHDB resale prices up 9.5% in 2024, slowing from previous quarter The Housing Development Board (HDB) flash estimates released on January 2, 2025, showed a 2.5% q-o-q increase in resale flat prices for the fourth quarter of 2024 – marking the 19th consecutive quarter of price increases in the HDB resale segment. This growth rate is slightly slower than the 2.7% q-o-q recorded in the previous quarter, indicating a moderate trend in the market.

Overall, the flash estimates also showed a 9.6% increase in HDB resale prices for the year 2024 – double the 4.9% growth registered in 2023. Although this is a significant increase, it is still lower than the 2022 price growth of 10.4% and the 2021 growth of 12.7%, according to Christine Sun, chief researcher and strategist at OrangeTee Group.

Caveat data from the Housing and Development Board downloaded from data.gov.sg on January 2, 2025, showed a slowdown in price growth for various flat types, notes OrangeTee. In the fourth quarter of 2024, the median price of four-room flats rose by 2.5% q-o-q, which is a slower pace than the 3.4% growth recorded in the third quarter of 2024.

Similarly, two-room flats saw a 2% q-o-q increase in resale prices in the fourth quarter of 2024, which is slower than the 3.9% growth in the previous quarter. Meanwhile, executive flats registered a 1.2% q-o-q price increase in the fourth quarter of 2024, compared to 1.7% in the third quarter of 2024.

In contrast, the prices of five-room flats grew by 3.2% in the fourth quarter of 2024, which is faster than the 1.2% increase in the third quarter of 2024.

Investing in a condominium in Singapore offers numerous benefits, including the potential for capital growth. With Singapore being a prominent global business center and boasting a robust economy, the demand for real estate remains constant. This has resulted in a consistent increase in property prices over the years, particularly in prime locations where condos are located. For those who enter the market at an opportune time and hold onto their properties for an extended period, attractive capital gains can be achieved. This makes investing in a condo in Singapore a smart choice for savvy investors.

Resale volume down 3.6% y-o-y in fourth quarter of 2024

The resale volume for the Housing and Development Board declined by 3.6% y-o-y to 6,314 units in the fourth quarter of 2024, compared to 6,547 transactions in the same period in 2023. This is also a 22.5% q-o-q decrease from 8,142 units in the third quarter of 2024.

Sun attributes the drop in HDB resale transactions primarily to the launch of over 8,500 new flats by the HDB in the October Build-to-Order (BTO) exercise, with many units located in prime and desirable locations. “The attractive features of these flats, including scenic views and proximity to MRT stations, diverted demand away from the resale market towards the BTO market,” she explains.

Sales are also typically slower during the year-end school holidays, when many Singaporeans tend to travel abroad. This leads to a decrease in house viewings and sales activities during this period.

However, Wong Siew Ying, head of research and content at PropNex, believes that the slower pace of growth in the fourth quarter of 2024 can be attributed to government intervention in August 2024, when the loan-to-value (LTV) limit for HDB loans was reduced by five percentage points to 75%. “Based on the weaker sales and slower growth in the HDB resale price index in the fourth quarter of 2024, it is likely that the August 2024 measures have had an impact on the market,” says Wong. “Moreover, the lower resale volume during the quarter likely also contributed to the slower price growth.”

Record-breaking 1,000 HDB resale flats hit $1 million in 2024

The total number of million-dollar HDB resale transactions declined to 283 units in the fourth quarter of 2024 from 331 units in the third quarter of 2024 due to the decrease in resale volume. Despite this, the total number of million-dollar transactions reached a record high of 1,033 units in 2024, notes OrangeTee’s Sun. “This figure is more than double the 469 million-dollar transactions recorded in the previous year,” she points out.

Toa Payoh town led the million-dollar resale flat deals in the fourth quarter of 2024, with 58 such transactions. Out of the 58, 20 were for four- and five-room units at Alkaff Vista in Bidadari Park Drive, which had recently crossed the five-year minimum occupation period (MOP). (* Based on caveats and may differ from actual numbers.)

“The new Plus and Prime classification of BTO flats may have driven more homebuyers to seek out HDB resale homes in central locations,” says Eugene Lim, key executive officer of ERA Singapore. “These buyers are unwilling to accept the resale restrictions such as a 10-year MOP, rental restrictions after MOP, subsidy clawback upon resale, and resale income cap on future buyers.”

HDB resale prices expected to continue rising in 2025

According to OrangeTee, HDB resale prices are expected to continue growing in 2025, but at a slower pace than in previous years. “In many areas, prices have already reached new highs, creating affordability concerns for many potential buyers,” adds Sun.

Furthermore, the ongoing supply of BTO flats is expected to help moderate price growth in the secondary market. However, the degree of price stabilisation will depend on the number of BTO flats the government plans to release in the upcoming years.

In February 2025, the HDB will launch its largest sale of balance flats (SBF) exercise, offering more than 5,500 flats across various towns, says Lee Sze Teck, senior director of data analytics at Huttons Asia. “Some prospective resale flat buyers have decided to wait to try their luck,” he adds.

Price growth and transaction volume to moderate in 2025

ERA expects resale prices to grow at a more measured pace in 2025 due to a reduced supply of flats reaching MOP, which has been a key driver of price growth in recent years, notes Lim. As such, he anticipates a 3% to 6% growth in HDB resale prices, with 26,000 to 27,000 resale units changing hands by the end of 2025.

Meanwhile, PropNex expects the HDB resale market to perform well in 2025, supported by healthy housing demand and fewer MOP flats coming onto the market. This may result in stable prices in the resale market, says Wong. “Resale flats will continue to enjoy strong buying interest from those with more pressing housing needs, applicants who cannot secure a BTO flat, and families with a tighter housing budget.”

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In summary, investing in a condominium in Singapore presents a myriad of benefits. This includes high demand from buyers and tenants, potential for appreciation in value, and appealing rental yields. However, it is crucial to carefully assess various aspects such as location, financing options, government regulations, and current market conditions. By conducting thorough research and seeking guidance from professionals, investors can make well-informed decisions and maximize their returns in Singapore’s dynamic real estate industry. Whether you are a local investor looking to diversify your portfolio or a foreign buyer seeking a stable and profitable investment, considering a Singapore Condo is undeniably a lucrative opportunity. So, why not explore the possibilities and take advantage of this attractive investment opportunity now? Singapore Condo offers a great opportunity for anyone looking to benefit from the thriving real estate market in Singapore.

Wong believes that HDB resale flat prices may rise by 5% to 7% in 2025, with an estimated resale volume of 29,000 to 30,000 units.

The supply of BTO flats is expected to decrease in 2025 to 17,290 units, which is about 12% lower than the supply in 2024, notes Huttons’ Lee. “As there is no upfront information on the BTO projects with a shorter waiting time, buyers are likely to turn to the resale market,” he suggests.

Additionally, if interest rates decrease in 2025, buyers may be able to take on a larger loan amount to purchase a new home. “Some buyers may also consider buying an executive condo or a resale condo,” adds Lee. “The million-dollar flat market may stabilise at around 900 to 1,200 units in 2025.”

According to Huttons, it is projected that HDB resale flat transactions will end the year at 26,000 to 28,000 units, with resale flat prices likely to grow at a slower pace of 5% to 8%.…

Is it a Good Deal?: $538,000 for a four-room HDB in Bukit Batok with Balance Lease of 91 yearsIs it a Good Deal?: $780,000 for a five-room HDB in Bukit Panjang with remaining lease of 86 yearsIs it a Good Deal?: $608,000 for a five-room HDB in Punggol with remaining lease of 93 yearsIs it a Good Deal?: $480,000 for a three-room HDB in Tampines with remaining lease of 73 yearsIs it a Good Deal?: $595,000 for a five-room HDB in Queenstown with remaining lease of 78 years Is it a Good Deal?: $620,000 for a four-room HDB in Hougang with remaining lease of 81 years

The recently released HDB flash estimates for the fourth quarter of 2024 showed a 2.5% increase in resale flat prices, a slight slowdown from the 2.7% growth seen in the previous quarter. This marks the 19th consecutive quarter of price increases in the HDB resale market.

According to the flash estimates, the HDB resale prices grew by 9.6% in 2024, which is double the 4.9% growth seen in 2023. However, the growth is slower compared to the 10.4% increase in 2022 and the 12.7% growth in 2021, according to Christine Sun, Chief Researcher and Strategist at OrangeTee Group.

Investing in a condo in Singapore is steadily becoming a favored option for local and foreign investors, thanks to the nation’s flourishing economy, stable political environment, and exceptional quality of life. With its thriving real estate market, Singapore presents a plethora of opportunities for investors, and condos are a standout choice for their convenience, amenities, and potential for lucrative returns. This article will delve into the advantages, factors to consider, and necessary steps to take when investing in a condo in Singapore, including the latest updates on New Condo Launches.

Caveat data from data.gov.sg downloaded on Jan 2 at 8.15am showed a deceleration of price growth in certain flat types, notes OrangeTee. For instance, the median price of four-room flats saw a 2.5% increase quarter-on-quarter (q-o-q) in 4Q2024, a slower pace compared to the 3.4% growth seen in 3Q2024.

Similarly, two-room flats rose by 2% q-o-q in 4Q2024, slower than the 3.9% growth in 3Q2024. Executive flats saw a q-o-q price increase of 1.2% in 4Q2024, compared to 1.7% in the previous quarter.

In contrast, prices for five-room flats grew by 3.2% in 4Q2024, faster than the 1.2% increase seen in 3Q2024.

Resale volume down 3.6% year-on-year (y-o-y) in 4Q2024

The resale volume declined by 3.6% y-o-y to 6,314 units in 4Q2024 from 6,547 transactions in 4Q2023. It was down 22.5% q-o-q from 8,142 units in 3Q2024.

Sun attributes the decline in HDB resale transactions primarily to HDB launching over 8,500 new flats in the October Build-to-Order (BTO) exercise, with many units located in prime and desirable locations. “The attractive features of these flats, including scenic views and proximity to MRT stations, diverted demand away from the resale market towards the BTO market,” she adds.

Sales also slowed during the seasonal year-end school holidays, when many Singaporeans tend to travel abroad. Consequently, house viewings and sales activities typically decrease during this period.

However, Wong Siew Ying, Head of Research and Content at PropNex, attributes the slower pace of growth in 4Q2024 to government intervention in August 2024, when the loan-to-value (LTV) limit for HDB loans was reduced by five percentage points to 75%. “Based on the weaker sales and slower growth in the HDB resale price index in 4Q2024, the measures implemented in August 2024 are likely to be taking effect in the market,” says Wong. She adds that the lower resale volume during the quarter has also contributed to the slower price growth.

The total resale volume in 2024 was 28,876 units, which is 8% higher than the 26,735 units recorded in the previous year and 27,896 units in 2022. However, it is still lower than the peak of 31,017 units in 2021.

Decline in million-dollar flat transactions in 4Q2024

The decline in resale transactions in 4Q2024 led to a decrease in million-dollar flat transactions to 283 units from 331 in 3Q2024. Despite the drop, the total number of million-dollar transactions reached a record high of 1,033 units in 2024, notes OrangeTee’s Sun. “This figure is more than double the 469 million-dollar transactions recorded in the previous year,” she points out.

Toa Payoh town led the million-dollar resale flat deals in 4Q2024, with 58 such transactions – 20 of which were for four- and five-room units at Alkaff Vista in Bidadari Park Drive, which had recently reached the five-year minimum occupation period (MOP).

When making the decision to invest in a condominium, it is crucial to also take into account the maintenance and management of the property. Condos typically have a maintenance fee associated with them, which covers the cost of maintaining shared areas and amenities. Although this fee may increase the overall cost of ownership, it serves as a guarantee that the property will be well-maintained and maintain its value. Investors can opt to hire a property management company to handle the day-to-day tasks involved in managing their condos, turning the investment into a more hands-off endeavor. For a comprehensive list of potential condo investment opportunities, explore the various Singapore Projects.

“The new classification of Plus and Prime classification BTO flats may have driven more homebuyers to seek out HDB resale homes in central locations,” says Eugene Lim, Key Executive Officer of ERA Singapore. “These buyers are unwilling to accept the resale restrictions such as a 10-year MOP, rental restrictions after MOP, subsidy clawback upon resale and resale income cap on future buyers.”

HDB resale prices are expected to continue rising in 2025, but at a slower rate than in previous years, says OrangeTee. “In many areas, prices have already reached new highs, creating affordability concerns for many potential buyers,” adds Sun.

Furthermore, she adds that the ongoing supply of BTO flats is expected to help moderate price growth in the secondary market. However, the degree of price stabilisation will depend on the number of BTO flats the government plans to release in the upcoming years.

In February 2025, HDB will launch its largest sale of balance flats (SBF) exercise, offering more than 5,500 flats across various towns, says Lee Sze Teck, Senior Director of Data Analytics at Huttons Asia. “Some prospective resale flat buyers have decided to wait to try their luck,” he adds.

Price growth, transaction volume to moderate

ERA expects resale prices to grow at a more measured pace in 2025 due to a reduced supply of flats reaching MOP, which has been a key driver of price growth in recent years, notes Lim. Hence, he anticipates a 3% to 6% growth in HDB resale prices, with 26,000 to 27,000 resale units changing hands by the end of 2025.

PropNex expects the HDB resale market to perform well in 2025, underpinned by healthy housing demand and fewer MOP flats coming on – possibly keeping resale prices firm, says Wong. “Resale flats will continue to enjoy strong buying interest from those with more pressing housing needs, applicants who cannot secure a BTO flat, and families with a tighter housing budget.” She projects that HDB resale flat prices may rise by 5% to 7% in 2025, supported by a resale volume forecast of 29,000 to 30,000 units.

The supply of BTO flats in 2025 will be further reduced to 17,290 units, about 12% lower than the supply in 2024, notes Huttons’ Lee. “As there is no upfront information on the BTO projects with a shorter waiting time, buyers are likely to go to the resale market,” he reckons.

With interest rates potentially going lower in 2025, buyers may consider buying an executive condo (EC) or a resale condo, or resale HDB flats with a longer lease. The million-dollar flat market may stabilise in the range of 900 to 1,200 units in 2025, he adds.

Huttons projects that HDB resale flat transactions will end the year at 26,000 to 28,000, with prices likely to grow at a slower pace of 5% to 8%.…

Singapore-based property developer Roxy-Pacific Holdings is set to unveil its latest project, Bagnall Haus, this Saturday, January 4, along Upper East Coast Road. The freehold development is a redevelopment of the former Bagnall Court, which was acquired by Roxy-Pacific in February 2023 for $115.28 million. This translates to a land rate of $1,106 per square foot per plot ratio.

The new development is a low-rise, five-storey block comprising of 113 apartments and two shop units. The units range from one-bedroom plus flexi, starting at 495 square feet, to five-bedroom apartments spanning 1,528 square feet. Prices for a one-bedroom plus flexi start from $1.235 million, with a price per square foot of $2,495. Executive chairman of Roxy-Pacific Holdings, Teo Hong Lim, revealed that the average indicative price for the project will be around $2,450 per square foot. The official launch date will be announced following the preview on the weekend.

Situated less than a five-minute walk from the upcoming Sungei Bedok MRT Interchange Station for the Thomson-East Coast (TEL) and Downtown (DTL) lines, Bagnall Haus offers convenient access to public transportation. It is also a short walk to the Upper East Coast Bus Terminal. Additionally, the project is located across the road from a future commercial and residential mixed-use development site in the upcoming Bayshore precinct. Teo explained that residents of Bagnall Haus will have access to the future amenities at the Bayshore precinct.

When it comes to real estate investment in Singapore, location plays a vital role. This is because the value of a property is greatly influenced by its surroundings. In Singapore, properties located in central areas or near important amenities, such as schools, shopping malls, and public transportation hubs, have a higher appreciation 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. This is why investing in a condo in these areas can be a lucrative decision. Furthermore, the proximity to reputable and high-quality schools and educational institutions adds exponential value to condos in these locations, making them highly desirable for families. If you’re looking to invest in Singapore, consider the various Singapore Projects available in these prime locations to maximize your investment potential.

The last private condominium launched in the Upper East Coast neighbourhood in District 16 was Eastwood Regency by Fragrance Group in January 2010. The 75-unit, freehold boutique apartment project was completed the same year. Nearby is the 160-unit, freehold Country Park Condo by UOL Group, which was launched for sale in 1999 and completed in 2003. Another neighbouring development, the 99-year leasehold mixed-use Eastwood Centre, with 48 residential units, was launched in 1996 by Ho Bee Land and completed in 1998.

Singapore’s real estate market continues to flourish, making it a top destination for both local and foreign investors. The city-state’s strong economy, stable political climate, and exceptional quality of life have contributed to the increasing demand for condominiums. And it’s no surprise, as Singapore has earned the moniker “City in a Garden” and is a global financial hub. With the various opportunities available, condominiums have emerged as a popular pick due to their convenience, amenities, and potential for impressive returns. This article will delve into the advantages of investing in a Singapore condominium, along with important considerations and necessary steps to take.

Known as the “City in a Garden,” Singapore offers a thriving economy, reliable political environment, and efficient infrastructure, making it an ideal location for real estate investments. Among the different types of properties, condominiums have garnered a significant amount of interest due to their alluring features.

Condominiums in Singapore offer a convenient lifestyle, as many are located in prime areas near the city center, essential amenities, and transportation hubs. This makes them an attractive option for working professionals, families, and retirees. In addition, most condominiums come equipped with a variety of facilities, such as swimming pools, gyms, and 24-hour security, providing residents with a comfortable and safe living environment. These added conveniences also increase the value of the property, making it a lucrative investment opportunity.

However, before venturing into the Singapore condominium market, it’s important to consider several crucial factors. First and foremost, understanding your investment goals and financial capabilities is essential. This will help identify the type of condominium that aligns best with your needs, whether it’s a cozy studio apartment or a larger unit with multiple bedrooms. Additionally, conducting thorough research on market trends and seeking guidance from a reputable real estate agent will provide valuable insights into the property’s current and future prospects.

Once you have found a suitable condominium, the next step is to secure financing. Singapore offers a range of financing options for both locals and foreigners, including bank loans and housing grants. It’s advisable to compare interest rates and loan packages to find the most suitable one for your budget and requirements. Furthermore, be sure to factor in any additional costs, such as stamp duties and legal fees, when planning your finances.

In conclusion, investing in a Singapore condominium is a wise decision, given the country’s robust economy, stability, and high quality of life. With their convenience, amenities, and potential for impressive returns, condominiums are an excellent choice for investors. However, it’s crucial to conduct thorough research, seek expert advice, and carefully plan your finances before making the investment. So, if you’re looking for a solid and profitable investment opportunity, consider adding a Singapore condominium to your portfolio. Singapore Condo is a great addition to any investment portfolio.

Bagnall Haus offers easy access to amenities such as the upcoming Bedok Food Court and the Eastwood Centre, which houses a Cold Storage supermarket, a medical clinic, a dentist, a nail and beauty spa, and a pet shop. Schools in the vicinity include Temasek Primary and Temasek Secondary School, Bedok Green Primary School, and Anglican High School. Interested buyers can check out the latest listings for Bagnall Haus properties on a variety of online platforms.…

Singapore has long been renowned for its impressive and modern urban landscape, characterized by towering skyscrapers and advanced infrastructure. A prominent feature of this landscape is the abundance of luxurious condominiums, strategically located in prestigious areas. These condos offer the perfect blend of luxury and convenience, making them highly sought after by both locals and foreigners alike. Boasting state-of-the-art amenities such as swimming pools, fitness centers, and top-notch security services, these residential units elevate the standard of living for their residents. As a result, they are in high demand among potential renters and buyers, making them a sound investment for investors. With their highly desirable features, condo owners can expect to see higher rental returns and a steady increase in property value over time, making them a lucrative choice for investment opportunities.

Investing in real estate requires careful consideration of location, and this is especially important in Singapore. Condos located in central areas or in close proximity to important amenities, such as schools, shopping centers, and public transportation, have a higher potential for value appreciation. Prime locations in the country, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown growth in property values. Families also prioritize the proximity to reputable schools and educational institutions, making condos in these areas a highly desirable investment option. With the addition of Condo, these properties become even more attractive for potential investors.

CDL, Frasers Property and Sekisui House to launch 777-unit The Orie on Jan 3The highly anticipated launch of The Orie, a 777-unit private condo, is set to take place on Jan 3, with its official launch following on Jan 18. Located on Lorong 1 Toa Payoh, the project is a joint venture between developers City Developments Limited (CDL), Frasers Property and Sekisui House. Spread across two 40-storey towers, the units are a mix of one-bedroom plus study apartments ranging from 517 sq ft to five-bedroom units of 1,453 sq ft. Prices for the units start from $1.28 million for a one-bedroom plus study, $1.48 million for a two-bedroom, $2.09 million for a three-bedroom, $2.92 million for a four-bedroom and $3.48 million for a five-bedroom with an exclusive private lift. The Orie marks the first new launch of a private condo since 2016, when the 578-unit Gem Residences was launched and completed in 2020. The joint venture secured the government land sales (GLS) site for The Orie at a record-high bid of $968 million, translating to a land rate of $1,360 psf per plot ratio (ppr). The three developers have a 50:25:25 split in the joint venture, with CDL taking the majority share.”We are thrilled to kick off the New Year with the launch of The Orie, the first private residential development in Toa Payoh in over eight years,” says Sherman Kwek, group CEO of CDL. He adds that the project’s location in the highly sought-after and vibrant Toa Payoh estate will be a major draw for homebuyers due to its central location and excellent connectivity. The Orie is a five-minute walk to Braddell MRT Station on the North-South Line (NSL) and is near the Toa Payoh Integrated Transport Hub, which is slated for completion in 2030. The 12-ha development will include a sports centre with swimming pools, indoor sports halls and other amenities, a football stadium, a polyclinic and a public library. Other amenities in the area include the Toa Payoh Town Centre, HDB Hub, SAFRA Toa Payoh, Junction 8 shopping mall and MacRitchie Reservoir. The Orie is also near reputable schools such as Pei Chun Public School, CHIJ (Toa Payoh) Primary and Secondary Schools and First Toa Payoh Primary School. As for healthcare facilities, they include Toa Payoh Polyclinic, Tan Tock Seng Hospital, Mount Alvernia Hospital, Mount Elizabeth Novena Hospital and Thomson Medical Centre. Located in District 12 in the city fringe or Rest of Central Region (RCR), The Orie provides easy access to the CBD and Orchard Road shopping belt, notes Soon Su Lin, CEO of Frasers Property Singapore. The Orie is a low-energy development that boasts over 40 condominium facilities. Units feature efficient layouts, quality fittings by Hansgrohe, bathroom wares by Duravit, and premium home appliances by De Dietrich and Samsung. Takehisa Yanagi, managing officer and head of international development department at Sekisui House, says the project marks a new partnership between the Japanese developer and CDL. However, he adds that Sekisui House and Frasers Property have collaborated on projects in Singapore for the past 13 years. The latest transactions at Gem Residences, which is also located in Toa Payoh, show a median transaction price of $1,675 psf, with the latest transaction recorded on Nov 23, 2019. A total of 18 units were sold in 2019, compared to nine units in 2018. Don’t miss out on the opportunity to own a unit at The Orie – the first private launch in Toa Payoh in over eight years. Book your appointment for Jan 3, and don’t forget to view the latest listings for The Orie properties on EdgeProp.…

The cityscape of Singapore boasts of soaring skyscrapers and cutting-edge infrastructure. These Condos are strategically situated in prestigious locations, blending luxury and practicality to attract both locals and foreigners. Offering an array of amenities such as swimming pools, fitness centers, and excellent security, these Condos elevate the quality of life and are highly sought-after by potential tenants and buyers. In terms of investment, these facilities translate to higher rental yields and a gradual appreciation of the property’s worth over time.

Rewriting:
Investing in a condo has numerous advantages, one of which is the opportunity to leverage its value for future investments. With condos being used as collateral, investors can secure additional financing for new investments, thus expanding their real estate portfolio. This approach can potentially increase returns, but it also carries risks. As such, it is essential to have a well-thought-out financial plan and carefully consider the potential effects of market fluctuations when utilizing this strategy with a Condo.

Effective January 1, ERA Singapore will be ending its longstanding practice of covering the annual Council for Estate Agencies (CEA) license renewal fees for its real estate agents. This gesture, which has been in place for the past seven years and continued throughout the COVID-19 pandemic, has been a testament to ERA’s strong support for its agents.

In a statement, ERA stated that this decision is aimed at reallocating resources towards initiatives that can enhance growth and success for its leading salesforce and benefit consumers. This move also allows the company to continue supporting new agents by covering their renewal fees for the first two years, which is a common industry practice designed to help newcomers establish themselves in the field.

However, ERA clarified that this decision does not mean that they will stop supporting new agents completely. In fact, the company will continue to attract new and professional agents, as evidenced by the 230 new agents joining the agency on January 1. This highlights the ongoing appeal of ERA to active and aspiring real estate agents.

The decision to discontinue the renewal fee coverage also aims to address a recurring issue of inactive agents shifting between agencies solely to take advantage of the fee coverage. This move has resulted in a modest reduction of approximately 300 agents, primarily consisting of inactive or part-time salespersons with no transactions in the past year, according to ERA.

Furthermore, this decision is timely as the CEA is currently reviewing the need to implement a minimum transaction requirement for real estate salespersons. According to Marcus Chu, CEO of ERA Singapore, this highlights the importance of active participation and continuous professional development in the industry.

Chu also added that by reallocating resources towards technology, training, and marketing, they are reaffirming their commitment to empowering their core team of results-driven salespersons to excel and deliver exceptional value to clients. This move is in line with ERA’s vision of being the best real estate agency and delivering the highest level of service to their clients.…

SRI is pleased to announce that 111 agents from Knight Frank Singapore’s agency business, KF Property Network (KFPN), led by Evan Chung, have joined the firm on Jan 1.

This significant move has boosted SRI’s sales force by 40.5%, accounting for 274 sales force at KFPN as of Jan 1, 2024, when it was ranked the sixth-largest property agency by the Council for Estate Agencies (CEA). This has increased SRI’s agency sales force to 1,501 at the beginning of 2025, making it the fifth-largest property agency.

Founded by Bruce Lye and Benson Koh in 2016, SRI was a spin-off from SRI5000, established by the duo as a division of SLP Realty six years earlier. Starting with 120 agents in a small 2,000 sq ft shop unit on Eng Watt Street in Tiong Bahru, SRI soon outgrew its premises and moved to a larger 4,200 sq ft office space at Great World in 2021.

Under the leadership of CEO Thomas Tan, SRI has achieved a significant milestone by reaching nearly 1,500 agents, and aims to expand the team to 2,000 by the end of 2025. This expanded sales force will strengthen SRI’s existing business lines in residential, capital markets, industrial, auctions, and international projects. Tan believes that the addition of agents from KFPN, who are involved in big-ticket deals, will complement SRI’s luxury property segments, such as Good Class Bungalow (GCB) properties.

Investing in a condominium in Singapore offers numerous attractive advantages. The Singapore real estate market is highly sought after, making it a profitable investment opportunity. One of the primary benefits of owning a condo is its potential for appreciation in value. As the city continues to grow and thrive, the value of these properties is expected to increase over time. Additionally, the high rental returns make it a desirable option for investors.

However, before making a purchase, it is crucial to carefully consider various factors. The location of the property is a pivotal factor to ensure its desirability and demand. It is also important to evaluate different financing options to find the best fit for your personal circumstances. Staying informed about government regulations and policies is vital to avoid any potential legal issues.

Moreover, staying updated on current market conditions and trends is essential for making informed decisions and maximizing returns. It is recommended to conduct thorough research and seek advice from professionals when investing in Singapore’s ever-evolving real estate market. Whether you are a local investor looking to diversify your portfolio or a foreign buyer seeking a stable and profitable investment, Singapore projects provide a compelling opportunity.

With a vast array of projects available in Singapore, there is no shortage of options for potential investors. These projects cater to both local and international buyers, offering a diverse range of choices. Investing in a condominium in Singapore is a smart decision, and with careful consideration and due diligence, investors can benefit greatly from this dynamic market. For more information on available projects in Singapore, you can visit Singapore Projects.

Despite its growth, SRI remains a boutique agency with a strong focus on the luxury residential market. Tan’s goal is to transform SRI into a thought leader in the industry, known for its high standards, niche expertise, and client-centric approach.

Former KFPN head, Evan Chung, who has moved to SRI as a leader, explains that his decision was motivated by the agency’s dedication to equipping agents with effective tools, comprehensive support, and expert coaching. He also highlights the open and collaborative culture at SRI, which makes him feel supported as a professional and as part of a team striving for excellence. He believes that SRI will be a great platform for business growth and serving clients through its offerings in residential, commercial, and industrial markets, auctions, and international properties.

Singapore’s urban environment is dominated by towering structures and contemporary infrastructure. Condominiums, strategically located in sought-after neighborhoods, offer a fusion of opulence and ease that appeals to both locals and foreigners. These residences boast a plethora of facilities, including swimming pools, fitness centers, and security services, that elevate the standard of living and entice potential renters and buyers. For those looking to invest, these perks translate into greater rental returns and appreciation in property values over time. To explore the latest developments in Singapore, check out Singapore Projects for more information.

Following the departure of Chung and other agents, KFPN’s sales force has decreased to 145 agents, and its ranking has dropped from sixth to eighth largest agency, based on CEA public register figures as of Jan 1. However, Knight Frank Singapore’s CEO, Galven Tan, reassures that it’s business as usual at KFPN. The agency is appointing a new head to lead KFPN and will evaluate the team’s strengths and expertise to strategically position the agency for future opportunities.…

Next year, three new executive condos (ECs) are set to be launched, with Sim Lian Group’s Aurelle of Tampines taking the lead. Located at Tampines Street 62, the development will debut in the first quarter of 2025, most likely after the Lunar New Year celebrations. This launch comes on the heels of the highly successful Emerald of Katong, which is now over 99% sold.

Sim Lian Group secured the site for Aurelle of Tampines at Tampines Street 62 (Parcel B) for $543.28 million in a government land sales (GLS) tender that concluded in October 2023. This translates to $721 psf per plot ratio (psf ppr).

Considering the rise in construction costs and the harmonisation of gross floor area (GFA) definitions, PropNex CEO Ismail Gafoor predicts that Aurelle of Tampines could set a new price benchmark, potentially exceeding the $1,600 psf threshold. This expectation comes after the success of Novo Place EC, which was launched in November and achieved an average price of $1,656 psf.

To explore comprehensive data about all ECs, including the average profit at 5 and 10 years, visit Buddy.

Investing in property in Singapore requires a thorough understanding of the regulations and limitations that govern foreign ownership. While purchasing condos is generally more feasible for non-residents compared to landed properties with stricter ownership rules, foreign buyers are still subject to the Additional Buyer’s Stamp Duty (ABSD) of 20% for their initial property acquisition. However, the appeal of the Singapore real estate market, with its stability and potential for growth, continues to attract foreign investors. In addition, with the introduction of New Condo Launches, opportunities for foreign ownership in Singapore are further expanded.

The 760-unit Aurelle of Tampines is located at Tampines St 62 (Parcel B), a site that Sim Lian Group purchased for $543.28 million or $721 psf per plot ratio (Source: EdgeProp Landlens).

Next to Aurelle is the 618-unit Tenet EC, a joint venture between Qingjian Realty, Santarli Realty, and Heeton Holdings. Since its launch in December 2022, Tenet has sold 617 units at an average price of $1,384 psf, with just one unit remaining as of Dec 19, 2024.

The site for Tenet, at Tampines Street 62 (Parcel A), was purchased in August 2021 for $442 million ($659 psf ppr). That price set a record for the highest psf ppr price for an EC land plot back then. Notably, Tenet was launched before the implementation of the GFA harmonisation rule, which applies to GLS sites sold for sale after Sept 1, 2022.

Tenet has only one remaining unit as of Dec 19, 2024, with 617 units sold at an average price of $1,384 psf. The 618-unit EC is at Tampines St 62 (Parcel A) next to Sim Lian’s upcoming 760-unit Aurelle of Tampines (Photo: Samuel Isaac Chua/EdgeProp Singapore).

Confident in the strong demand for homes in Tampines and surrounding estates, Sim Lian Group acquired another EC site when it was awarded the Tampines Street 95 GLS site early last November. At the close of the tender in October, Sim Lian submitted the highest bid of $465 million ($768 psf ppr), setting a new high for EC land prices.

The new EC project at Tampines Street 95 is expected to add 560 new units, further boosting the EC supply in the area. Sim Lian Group has an extensive track record of developments in the eastern part of the island.

Sim Lian submitted the highest bid of $465 million ($768 psf ppr) for the EC site at Tampines St 95, setting a new benchmark for EC land prices (Source: EdgeProp Landlens).

In addition to the Emerald of Katong and the upcoming EC projects in Tampines, the group also completed Treasure at Tampines, Singapore’s largest private condominium with 2,203 units, in 2023.

Located at Tampines Street 11, Treasure at Tampines is a redevelopment of the former privatised HUDC estate Tampines Court, which Sim Lian purchased en bloc for $970 million in 2017.

Read also: Novo Place hits 88.1% as 137 units snapped up in second balloting.

Launched in February 2019, the 2,203-unit Treasure at Tampines sold out entirely within three years at an average price of $1,356 psf. As of Dec 19, a total of 468 sub-sale and resale transactions have been recorded. Prices on the secondary market now average $1,699 psf, representing a 25.3% increase over the average launch price.

Sim Lian Group’s private condo, the 2,203-unit Treasure at Tampines, was fully sold and completed in phases in 2023 (Photo: Sim Lian Group website).

The second EC launch in Plantation Close, Tengah Town is Novo Place, a 628-unit development developed by a joint venture between Hoi Hup Realty and Sunway Developments. Launched in mid-November, Novo Place sold 57% of its units over the opening weekend. In the second round of balloting for second-timers — buyers who had previously purchased a subsidised new or resale HDB flat — another 137 units were taken up, bringing total sales to 444 units, or 88.1% of the project as of Dec 16, 2024.

In the second round of balloting for second-timers — buyers who had previously purchased a subsidised new or resale HDB flat — another 137 units were taken up, bringing total sales to 444 units, or 88.1% of the project as of Dec 16, 2024 (Photo: Samuel Isaac Chua/EdgeProp Singapore).

With an average price of $1,656 psf, Novo Place set a new benchmark for EC prices. PropNex’s Gafoor attributes the “slightly elevated average pricing” at Novo Place to the fact that 80% of buyers chose the deferred payment plan, which carries a 3% premium compared to the regular payment plan.

Despite the higher benchmark price, Novo Place performed well due to several factors. These include the diminishing inventory of unsold EC units and its favourable location. Situated in Tengah’s Plantation Close, Novo Place benefits from its proximity to the upcoming Tengah Park MRT and Bukit Batok West MRT Stations on the Jurong Region Line, which are expected to be completed by 2029.

Based on caveats lodged in URA Realis, some of the transactions at Novo Place executive condo have crossed the $1,700 psf threshold (Source: EdgeProp Landlens).

The last EC launch in Pasir Ris was in 2013

A third EC project, potentially launching in late 2025, is located at Jalan Loyang Besar in Pasir Ris. It is a joint venture between Qingjian Realty, Forsea Holdings, and ZACD Group, who purchased the site for $557 million ($729 psf ppr) in August 2024. The project is expected to yield 710 units.

Read also: Novo Place EC achieves 57% sales on launch day at an average price of $1,654 psf.

One of the main factors driving the demand for condos in Singapore is the scarcity of land. As a small country with a rapidly increasing population, Singapore struggles to find available land for development. This results in strict land use regulations and a cutthroat real estate market where property values are continuously rising. As a result, purchasing real estate, specifically condos, has become a profitable opportunity with the potential for significant capital gains. Additionally, condos are highly sought after due to their premium location and modern amenities, making them a desirable investment for both local and foreign buyers alike.

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The last EC launched in Pasir Ris was Sea Horizon, which debuted in September 2013 at an average price of $800 psf. By 2024, the average resale prices for caveats lodged had risen to $1,290 psf, reflecting a 61.25% increase over the past decade. Given that Pasir Ris has not seen a new EC launch in nearly 12 years, pent-up demand is anticipated.

The last EC launched in Pasir Ris was Sea Horizon, which debuted in September 2013 at an average price of $800 psf. By 2024, the average resale prices for caveats lodged had risen to $1,290 psf, reflecting a 61.25% increase over the past decade (Photo: Google Maps).

New EC supply to double in 2025

According to Gafoor, the three upcoming EC projects — Aurelle of Tampines, the Plantation Close EC, and the Jalan Loyang Besar EC — will together add 2,030 units to the market. This represents a doubling in new supply compared to the 1,016 units launched in 2024.

The first EC launched in 2024 was Lumina Grand at the end of January. Located at Bukit Batok West Avenue 5, the 512-unit EC is developed by City Developments (CDL). On its launch weekend, 53% of the units were taken up. As of Dec 17, 444 units (87%) had been taken up. The average price achieved to date is $1,511 psf.

Launched at the end of January, the 512-unit Lumina Grand was over 87% sold at an average price of $1,511 psf as at Dec 17, 2024 (Picture: CDL).

“ECs, a hybrid of public and private housing, remain highly sought after by first-time homebuyers and HDB upgraders, as they are still more affordable than private new launches,” says Gafoor.

According to PropNex, the median price for new non-landed, 99-year leasehold private homes in the Outside Central Region (OCR) as of Dec 8, 2024, was $2,203 psf. Based on caveats lodged during the same period, this represents a 44% premium over new EC launch prices. To check out the latest listings for Aurelle of Tampines properties, please visit Buddy.…

after 27 yearsBy investing in a luxury condo, the gains can be significantly higher with proper research and patience. This was demonstrated by the profitable resale transactions at Ardmore Park, a freehold luxury development located in the prestigious Ardmore-Draycott enclave of prime District 10. In fact, Ardmore Park accounted for three of the top four most profitable condo resale deals in 2024, based on caveats lodged with the Urban Redevelopment Authority (URA) as of December 17.

The most significant gain was from the sale of a 2,885 sq ft, four-bedroom unit on the 26th floor of Ardmore Park for $12.9 million ($4,472 psf) on February 16. The unit was purchased from the developer for $5.83 million ($2,022 psf) in July 1996. This resulted in a whopping $7.07 million profit, translating to a 121% gain after a holding period of about 27.5 years.

A resale transaction on July 24 also made big gains, with a four-bedroom unit measuring 2,885 sq ft on the 18th floor being sold for $12 million ($4,160 psf). The seller, who had bought the unit in December 2000 for $5.2 million ($1,803 psf), reaped a $6.8 million profit, equivalent to a capital gain of 131%. This was after holding the unit for approximately 23.5 years.

Another 2,885 sq ft, four-bedroom unit at Ardmore Park made a profit of $6.5 million (108%) when it was sold for $12.5 million ($4,333 psf) on April 22. The seller, who had bought the unit in February 2007 for $6 million ($2,080 psf), owned the unit for over 17 years.

These gains are not surprising as resale transactions at Ardmore Park have consistently registered significant profits in recent years. In 2024 alone, there were three other transactions of 2,885 sq ft four-bedroom units, with sellers pocketing gains of $2.65 million, $3 million and $3.05 million respectively. Last year, the condo registered four resale transactions with gains ranging from $2.8 million to $8.16 million per unit.

Ardmore Park, a freehold condo located in District 10, contains 330 units (Picture Source: Samuel Isaac Chua)Apart from Ardmore Park, other mature freehold condos in District 10 also made the list of top profitable resale deals. Beverly Hill, an 86-unit boutique condo on Grange Road that was completed in 1983, saw the fifth most profitable transaction this year. A four-bedroom unit spanning 3,778 sq ft on the fifth floor sold for $9.15 million ($2,422 psf) on July 15, resulting in a $5.47 million profit (149%).

Other freehold District 10 condos that registered top profitable deals in 2024 include Astrid Meadows, a 208-unit development on Coronation Road West; Regency Park, a 292-unit development on Nathan Road; Fontana Heights, a 52-unit development on Mount Sinai Rise; and Wing On Life Garden, an 81-unit development on Bukit Timah Road. These condos were completed between 1982 and 1990 and are all over 30 years old.

Two older freehold District 9 condos also made it to the top 10 list. The third highest profit came from a 3,434 sq ft, four-bedroom unit at Yong An Park, located on River Valley Road. This unit sold for $8.6 million ($2,505 psf) on August 12, resulting in a $6.72 million profit. In addition, the sale of a 3,057 sq ft apartment at The Ritz-Carlton Residences Singapore Cairnhill made a $4.89 million profit when it was sold for $16.5 million ($5,397 psf) on January 9.

Sentosa Cove condos record top lossesOn the other hand, nearly half of the 10 least profitable condo resale transactions this year occurred in Sentosa Cove. The most unprofitable deal was from the sale of a five-bedroom duplex penthouse spanning 3,789 sq ft at Marina Collection, a 124-unit condo on Cove Drive. This unit sold for $6.7 million ($1,768 psf) on July 22, resulting in a $2.69 million loss (29%). The seller had bought the unit in March 2010 for $9.39 million ($2,479 psf).

Seascape, located on Cove Way, also made it to the list with the sale of a 2,680 sq ft, four-bedroom unit on the sixth floor for $4.5 million ($1,679 psf) on August 14. The seller had bought the unit from the developer for $7.03 million ($2,623 psf) in October 2010, thus incurring a $2.53 million loss (36%).

The bustling cityscape of Singapore is characterized by towering skyscrapers and cutting-edge infrastructure. Condos, situated in sought-after neighborhoods, offer a fusion of lavishness and practicality that appeals to both locals and foreigners alike. These modern dwellings boast a plethora of facilities, including swimming pools, fitness centers, and round-the-clock security services, elevating the standard of living and making them a desirable choice for potential renters and buyers. From an investment standpoint, these coveted amenities translate into higher rental returns and appreciating property values in the long run. To learn more about Condos, visit this site.

In conclusion, investing in a luxury condo can result in significant gains through proper research and patience. The resale transactions at Ardmore Park, a freehold luxury development in District 10, are a prime example of this. Other older District 10 condos also demonstrated profitability in their resale transactions, while Sentosa Cove condos recorded the highest losses.

Singapore’s modern cityscape is defined by towering skyscrapers and state-of-the-art infrastructure. Condos, strategically located in prime areas, provide a perfect blend of luxury and convenience, making them a popular choice among both locals and expats. These upscale residences offer a plethora of amenities such as swimming pools, gyms, and round-the-clock security, enhancing one’s lifestyle and making them highly sought-after by potential tenants and homebuyers. For investors, these amenities translate to higher rental returns and long-term appreciation of property values. Therefore, investing in a condo is a wise and lucrative decision.…

Investing in a Singapore condo offers a multitude of advantages, making it an attractive option for both local and foreign investors. With a high demand for condominiums, there is a strong potential for capital appreciation, making it a lucrative investment. Additionally, the attractive rental yields in Singapore provide a steady stream of income for investors.

However, before diving into a condo investment, it is crucial to consider various factors. The location of the property is a crucial aspect to evaluate as it can greatly impact the demand and rental rates. Additionally, carefully considering financing options, government regulations, and current market conditions will help investors make informed decisions.

With its dynamic real estate market, Singapore offers a compelling opportunity for investors seeking stable and profitable investments. By conducting thorough research and seeking professional advice, investors can maximize their returns in the condo market. Whether you are a local investor looking to diversify your portfolio or a foreign buyer seeking a secure investment, investing in a condo in Singapore is a wise choice. Consider the numerous advantages, such as high demand, potential for capital appreciation, and attractive rental yields, and make a smart investment decision today.

In the world of the uber-rich, the market for Good Class Bungalows (GCBs) has shown strong performance this year compared to previous years, according to Han Huan Mei, director of research at List Sotheby’s International Realty. As of December 20, 22 GCB transactions totaling $612.05 million have been recorded in URA Realis. In addition, another 13 GCB deals worth over $700 million have been completed this year without caveats lodged, as buyers prefer to remain anonymous. This brings the estimated total for 2024 to 35 GCB transactions worth approximately $1.32 billion, according to List Sotheby’s estimates, surpassing the previous high of $1.186 billion achieved in 2022. In comparison, only 18 GCB transactions were recorded in 2023, amounting to $432.5 million – the lowest number of deals since URA Realis began tracking data in January 1995.

Han notes, “The additional deals in 2024 indicate a more active GCB market compared to official transaction data. It also highlights the highly coveted status of GCBs among ultra-high-net-worth buyers.”

Top Transactions

The highest sale this year was a GCB at Tanglin Hill for $93.888 million. Situated on a freehold site of 15,150 sq ft, the property has a built-up area of 29,660 sq ft. This transaction set a new record with a land rate of $6,197 psf. The second-largest GCB transaction was the $84 million purchase at Bin Tong Park by Xiang Yangyang, daughter of Chinese nickel billionaire Xiang Guangda, according to a document search, although no caveat was lodged for the property. Based on the land area of 28,111 sq ft, the price reflects a land rate of $2,988 psf. The highest-priced deal based on caveats lodged was $52 million for a GCB on Cluny Hill. Sitting on a freehold plot measuring 15,141 sq ft, the relatively new property fetched a land rate of $3,434 psf. Another significant transaction was the sale of a 21,116 sq ft GCB plot at Astrid Hill for $49 million ($2,321 psf) in July. The property was reportedly bought by Glenn Kuok, nephew of Kuok Khoon Hong, chairman and CEO of Wilmar International. This translates to a land rate of $2,321 psf. Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors Inc (SRI), notes that at least 14 transactions this year were valued at $20 million or more, indicating strong demand for ultra-luxury properties in Singapore.

District 10 Reigns Supreme

Sandrasegeran adds that District 10 remains the top district for GCBs, with multiple high-value transactions reaffirming its status as the most sought-after area for these prestigious properties. A majority of the recorded GCB transactions this year – 16 to be exact – occurred in prime District 10, which includes Tanglin, Bukit Timah, and Holland Road.

Sustained Interest

Sandrasegeran observes that GCB transactions were evenly spread out throughout the year, with buying activity picking up in July. He says, “Overall, the fact that we saw GCB deals closing throughout the year suggests sustained interest in these trophy properties despite external economic factors such as inflation and high-interest rates in the first eight months of the year.”

Trajectory of Interest Rates

Steve Tay, co-founder and executive director of his eponymous boutique luxury agency in Singapore, says the trajectory of interest rates signaled by the US Federal Reserve (Fed) was the primary driver of stronger buying sentiment in the GCB market during the second half of the year. The Fed implemented three rate cuts this year: the most recent being a 25 basis point (bp) reduction on Dec 18, following earlier cuts of 50 bp in September and 25 bp in November. Anecdotally, Tay notes that most GCB buyers who had been hesitant about their purchases began more serious discussions from July onwards, with most deals closing in the last quarter of the year. The GCB market slowed down last year after buyers retreated following the island-wide arrests of suspects in Singapore’s biggest money laundering case, says Han of List Sotheby’s.

A New Generation of Buyers

Newly naturalized ultra-wealthy Singaporeans, including young and successful entrepreneurs in technology, finance, commodities, and F&B businesses, have emerged in the GCB market in recent years, says Tay. However, the number of naturalized citizens purchasing GCBs remains lower compared to locals with high net worth. According to research from List Sotheby’s, the cost of developing a new GCB from the ground up is approximately $1,000 psf, and construction can take several years. Hence, most buyers prefer relatively new bungalows in move-in condition to minimize renovation works, observes Han.

Positive Momentum

In Singapore, investing in condos requires careful consideration of the government’s property cooling measures. These measures have been put in place by the Singaporean government to restrict speculative purchases and maintain a stable real estate market. One significant measure is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may impact the profitability of condo investments initially, they ultimately contribute to the long-term stability of the market. This creates a secure investment environment for Singapore projects, making them a wise choice for investors in the country.

“The GCB market is expected to maintain its positive momentum, with demand from ultra-high-net-worth individuals driving high-value transactions,” says Sandrasegeran of SRI. “The preference for privacy among GCB buyers and sellers could mean continued off-market transactions, adding to the complexity of tracking market activity.”…