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According to recent data published by JLL on September 23, the gross effective rent for CBD Grade A offices in 3Q2024 has remained steady at $11.50 psf per month (pm), following a 0.7% q-o-q growth in 2Q2024. This marks a slowdown from the 1.4% q-o-q growth seen in 1Q2024.

This rental growth plateau aligns with the second consecutive quarter of increasing vacancy rates for Grade A offices in the CBD, reaching 8.3% q-o-q in 3Q2024. The main contributing factor to this rise is the recent completion of the IOI Central Boulevard Towers (IOICBT). JLL observes that tenants are becoming more resistant to rental hikes in light of this upward trend in vacancy rates. Excluding the IOICBT, the CBD Grade A vacancy rate would have remained relatively tight, similar to the post-pandemic low of 5.3% in 1Q2024.

However, the global economic slowdown and delay in US interest rate cuts have resulted …

Singapore has long been known for its affluent population, and real estate has been a cornerstone of wealth accumulation for its residents. With its stable and consistent value appreciation, the country’s thriving property market continually attracts investors from all around the world. However, in recent years, investors have begun to diversify their portfolios, turning to alternative assets like equities and cryptocurrencies to complement their real estate investments.

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When it comes to investing in condos in Singapore, one must also take into account the government’s property cooling measures. Over the years, the Singaporean government has implemented various measures to control speculative buying and maintain a steady real estate market. One of these measures is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign investors and those purchasing multiple properties. While these measures may initially impact the profitability of condo investments, they ultimately contribute to the market’s long-term …

A prime 1,593 sq ft strata office unit at Havelock II, situated at 2 Havelock Road, is set to go under the hammer at the next property auction conducted by SRI on September 25. This owner’s sale has a suggested price of $2.63 million, equivalent to a rate of $1,651 per square foot for the strata area, which includes an extra 11 sq ft of space.

The up for sale unit is a corner unit on the seventh floor, and it has been constructed to a regular design with facilities such as meeting rooms, a washroom, and an open work area. According to Mok Sze Sze, the managing partner of auctions at SRI, this corner unit receives an ample amount of natural light and is also equipped with an independent air conditioning system. The pictures of the unit depict the bare unit before it was outfitted for the present tenants.…

In the world of real estate investment, location is a crucial factor to consider, and this holds especially true for Singapore. The positioning of a property can greatly impact its value, particularly in terms of condominiums. Those located in central areas or near important amenities like schools, shopping centers, and public transportation hubs tend to experience a higher appreciation in value. This is evident in prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD), which have consistently shown growth in property values. Apart from these key areas, condos situated near reputable schools and educational institutions, such as the highly sought-after Singapore Condo, are highly coveted by families, making them an attractive investment choice. Alongside other in-demand properties like Singapore Condo, these locations offer a lucrative opportunity for investors looking to maximize their returns.

Amber 45, a freehold development, has claimed the top spot for …

Amber 45 condo in District 15 tops list with new psf-price peak of $2,829 psfAsk BuddyCondo rental transactions in District 3Total number of units in Principal GardenCondo projects with most profitable transactions in District 3Recently launched projectsCompare price trend of Condo new sale vs EC new saleCondo rental transactions in District 3Total number of units in Principal GardenCondo projects with most profitable transactions in District 3Recently launched projectsCompare price trend of Condo new sale vs EC new saleArticle rewritten:A new record was set in the period between Aug 30 and Sept 8, with freehold development Amber 45 topping the list of condos that hit a new per square foot (psf) price peak. A 1,184 sq ft, three-bedroom unit on the sixth floor was sold for $3.35 million on Sept 2, setting a new high of $2,829 psf.This is the first time a unit at Amber 45 has been sold for …

MORE RELATED STORYSDuplex unit at Amber Skye sets low of $1,429 psfFive-storey building at East Coast Road for sale from $19 milLiam Wee Sin of UOL Group: Cyclist, conservationist, chief executiveREWARDSWATCH NOWPLAYLISTPLAYLIST Follow us on:SearchOur FacebookOur InstagramOur TwitterOur YouTubeOur LinkedInWelcome to EdgeProp.sg. We deliver the latest and most insightful property news, interior design trends, and lifestyle content. Have feedback? Email us to get in touch. We’re always glad to receive your input. All rights reserved. © 2021 EdgeProp Singapore By clicking subscribe, you agree to receive communications from EdgeProp.sg and its partners about products, services, promotions, events, or any other matters relating to EdgeProp.sg (including but not limited to upcoming property launches, home solution influences, and lifestyle trends). We will only use your contact details for these purposes. You may opt-out at any time by contacting us using the contact details in our privacy policy. “EdgeProp Singapore is part of …

The government land sales (GLS) residential site located at Media Circle in District 5 recently closed on September 19th after receiving only one bid of $120.09 million or $461 per square foot per plot ratio (psf ppr). The sole bid was submitted by a consortium led by Frasers Property, a property group listed on the Singapore Stock Exchange, along with Padawan MC and Empire One North Property. This 62,046 square feet site has been zoned for long-stay serviced apartments (requiring a minimum stay of three months) with commercial space on the first floor. It boasts a maximum gross floor area of 260,605 square feet and has a 60-year lease. It is expected to accommodate 520 residential units. Located in the one-north district, this is the first GLS residential site which is fully designated for long-stay serviced apartments. According to the article, the site is situated near Mediapolis, which is the …

The recent government land sales (GLS) tender for a mixed-use site at Tampines Street 94 concluded on September 19, receiving a total of six bids. The winning bid, totaling $668.28 million or $1,004 per square foot per plot ratio (psf ppr), was submitted by a joint venture between Hoi Hup Realty and Sunway Developments.

Located on a 99-year leasehold plot spanning 252,989 square feet, the site has a maximum gross floor area of 665,366 square feet and is estimated to yield approximately 585 residential units. According to the Urban Redevelopment Authority (URA), the site is also well-connected to the Tampines West MRT station on the Downtown Line through an underground link.

The top bid of $1,004 psf ppr was only 1.9% higher than the second highest bid of $985 psf ppr, which was submitted by Sing Holdings Residential. This makes it the most competitive non-EC site tender since the Clementi …

needs to be re-examined: National Development MinisterFrom November, LTA will release a set of road design templates to streamline the road layout submission processDevelopers suggest separate land zoning to meet projected demand for senior accommodation in SingaporeCompanies seeking to install solar panels near airports will no longer be required to seek approval from CAASRedas president Tan Swee Yiow called for more support for green financing

Singapore’s Land Transport Authority (LTA) has announced that it is developing an AI chatbot to assist developers and appointed contractors in complying with regulatory requirements. Minister of Transport Chee Hong Tat made this announcement at the Real Estate Developers’ Association of Singapore (REDAS) mid-autumn lunch on September 17, where he was the guest of honour.

This initiative is part of the government’s ongoing review of existing rules and procedures for road and building works approvals. The AI chatbot will provide tailored advice to industry professionals …

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When it comes to investing in Singapore Condo, one must not overlook the influence of the government’s property cooling measures. Throughout the years, the Singaporean government has implemented various measures to control speculative buying and maintain a steady real estate market. These measures include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on both foreign buyers and those acquiring multiple properties. Although these measures may have an impact on immediate profits for condo investments, they also contribute to the long-term stability of the market, creating a more secure investment environment.

An EOI exercise has been launched for a freehold two-storey shophouse located at 221 Rangoon Road in Singapore (EDGEPROP). Covering a land area of approximately 2,145 sq ft, the shophouse boasts a total built-up area of 3,347 sq ft. According to the 2019 Master Plan, the property is zoned for residential use with a gross plot …