Month: September 2024

Please revise the attached article based on a report by Knight Frank, which states that prime office rents in the Raffles Place and Marina Bay precinct have risen by 0.6% q-o-q in the third quarter of 2024, reaching an average of $11.35 psf per month. This represents a slightly slower growth compared to the previous quarter’s 0.7%. However, the year-to-date increase of 2% is lower than the 3.4% recorded during the same period last year.

The moderate rise in rents can be attributed to the absence of expansion plans from major occupiers like tech companies. This could be due to the slowdown in the tech sector and the uncertain economic climate. Calvin Yeo, Knight Frank Singapore’s managing director of occupier strategy and solutions, notes that these companies are choosing to delay expansion plans.

Instead, many tech firms have opted to downsize their office space. For instance, Facebook’s parent company, Meta, …

Keppel, one of Singapore’s leading companies, has secured a significant contract for its infrastructure division. The contract, awarded by the Housing & Development Board (HDB), is for the supply of chilled water and spans a period of 20 years. Under the terms of the contract, Keppel will be responsible for the design, construction, ownership, and operation of centralised cooling systems (CCS) at three upcoming build-to-order (BTO) projects in Tengah.

The three BTO projects are Brickland Weave, Plantation Edge I & II, and Plantation Verge, which together will serve approximately 3,500 households. Keppel will be working closely with HDB to ensure the timely delivery of the CCS to each home. The CCS system operates by supplying chilled water from centralised chillers, located on the rooftops of selected HDB blocks, to cool the flats. Keppel has stated that it will incorporate innovative engineering and design features, as well as use industrial grade …

When contemplating investing in a condominium, it is crucial to thoroughly evaluate its potential for rental yield. This refers to the annual income generated by renting out the property, expressed as a percentage of its purchase price. In Singapore, rental yields for condos vary greatly depending on various factors such as location, property condition, and market demand. Typically, areas with a high demand for rental properties, like those near business districts or educational institutions, tend to have better rental yields. To accurately assess the rental potential of a specific condominium, it is advisable to conduct market research and seek guidance from trusted real estate agents. An additional valuable resource to consider is Singapore Projects, which provides valuable insights into the rental potential of a particular condo. By taking into account all of these aspects, investors can make well-informed decisions about their potential investment in a condominium. For more information, visit …

The lower level unit of a two-storey shophouse located at 24 Greenwood Avenue in District 11 is up for sale with a price tag of $8.8 million. The strata unit, which is approved for use as a restaurant, boasts a generous floor area of 1,539 square feet. With a total strata area, the asking price translates to $5,718 per square foot. Wilkie Tay and Richard Tan, directors at PropNex Shophouse Elites (PSE), are the exclusive marketing agents for this freehold property.

According to a press release by PSE, the restaurant unit also has access to a 100 square foot outdoor dining area. The upper level of this two-storey shophouse is zoned for residential use and is equipped with a separate staircase entrance. Recent commercial transactions in the area have been promising, making this property an attractive investment opportunity. (Source: EP Buddy, URA)

Richard Tan, founder of PSE, mentions that the …

Investing in a condominium in Singapore is increasingly gaining traction among both local and foreign investors, thanks to the country’s strong economy, stable political climate, and exceptional quality of life. With a real estate market that presents a plethora of possibilities, condominiums stand out as an attractive option due to their convenient location, range of amenities, and potential for high returns. In this article, we will delve into the advantages and factors to consider before investing in a condominium in Singapore. Additionally, we will provide a guide on the necessary steps to take to make a sound investment decision. For more information on the latest condo launches, click here: New Condo Launches.

Gallop Green, a freehold condo situated in Prime District 10, has emerged as the top performer among apartments and condos with a new psf-price high between Sept 8 to Sept 13. The new record was achieved when …

Watch retailer The Hour Glass has exercised its purchase options to acquire units in Tong Building for a total of $68.5 million. The units being acquired are located on the ninth and tenth floors of the building, and the deal was brokered by Savills Singapore’s executive director of investment sales and capital markets, Yap Hui Yee.

According to Yap, the freehold status of the office floors provides long-term value and makes it an attractive investment for wealth preservation. This deal adds to Yap’s success in facilitating the sale of Tong Building’s entire sixth floor to Parkway Hospitals Singapore for $31.33 million, which is the highest price per square foot for office space in the prime districts.

The office floors in Tong Building have a strata area of 638 square meters each and are classified as premium-grade properties. They are situated near The Hour Glass’ corporate offices within the building. This …

The Housing & Development Board (HDB) has recently announced the launch of a mixed-use site in Chencharu Close for sale through tender. This site is part of the second half of the 2024 Government Land Sales (GLS) Programme, and it marks the first private housing development within the new 70ha HDB estate of Chencharu in Yishun Town. Occupying a 99-year leasehold, the site spans 316,997 sq ft and boasts a gross floor area of over 1.03 million sq ft.According to the HDB, the site has a potential to yield approximately 875 residential units and up to 135,627 sq ft of commercial space. It also plans to allocate at least 58,125 sq ft of the commercial space for a bus interchange to be integrated into the project, as well as another 37,674 sq ft for a hawker centre. With its prime location and diverse array of amenities, this mixed-use site is …

Frasers Hospitality, the hospitality and lodging business unit of Frasers Property, recently sold some of its assets in Singapore while expanding its global presence. According to Eu Chin Fen, the company’s CEO since January 2023, this move is part of their international expansion strategy in the coming years. Eu previously served as CEO of Frasers Hospitality Trust’s (FHT) manager since its listing in 2014.

In early September, a consortium led by Hong Kong-based family office Atelier Capital Partners purchased the 313-room Capri by Fraser, Changi City hotel for $170 million. The hotel has since been rebranded as Dorsett Changi City Singapore, with Hong Kong-listed Far East Consortium International’s subsidiary, Dorsett Hospitality International (DHI) as the operator. Other shareholders in the consortium include Singapore-listed Heeton Holdings and Singapore family office Fortez Capital.

The hotel, which opened as a Capri in 2012, was sold to Frasers Property in 2014 for $203.4 million. …

In a recent partnership, global hospitality giant Hyatt Hotels Corp has joined forces with Singapore-based property developer SingHaiyi to open the new Hyatt Regency Samarafushi Maldives, an all-villa resort.

According to Gallant Tang, Executive Director of SingHaiyi, the decision to collaborate with Hyatt was an easy one due to their well-established reputation and leadership in the hospitality industry. “We are thrilled to work with Hyatt to create a resort that embodies all the elements that guests have come to appreciate from the Hyatt Regency brand,” Tang said at the signing ceremony on September 26.

In the realm of investing in a condo, financing is a crucial factor to consider. Singapore provides a variety of mortgage choices, but it is vital to have knowledge about the Total Debt Servicing Ratio (TDSR) framework. This framework sets a cap on the amount of loan a borrower can take, taking into account their income …

The demand for Singapore Condos continues to soar, primarily because of the scarcity of land. As a small nation with a fast-growing population, Singapore faces the challenge of acquiring sufficient land for development. This has resulted in strict regulations on land usage and a highly competitive real estate market, causing property prices to steadily increase. Real estate investment has become a highly desirable opportunity, especially with Singapore Condos, known for their potential for significant appreciation in value.

The resale of a four-bedroom unit at The Sovereign topped the charts for the most profitable condo transaction in the week of September 10 to 17. The 2,637 square feet unit, located on the ninth floor, was sold for an impressive $6.2 million, which equates to $2,351 per square foot. This sale on September 10 saw the seller gain a remarkable profit of $2.7 million, representing a capital gain of 77% in …