NEW HOME SALES IN AUGUST FALL 63.6% MOM

In August, developers in Singapore saw a significant drop in new home sales, with only 208 homes excluding executive condos (ECs) being sold. This is a significant decrease of 63.6% from the 571 new homes sold in July, according to data released by URA on September 16. Sales were also down 47.2% compared to the same period last year, when 394 homes were sold in August 2023.

The drop in sales can be attributed to the lack of new launches for sale in August, which coincided with the lunar seventh month. Only 272 units were launched for sale, a decrease of 55.8% from the previous month and 53.9% from the same period last year.

Inclusive of ECs, the total number of new home sales fell by 59.5% from 608 units in July to 244 units in August.

The top-selling project in August …

Sentosa’s land parcel on Serapong Hill to be launched for tender on Aug 29

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When contemplating an investment in a condominium, it is crucial to evaluate the potential rental yield. The rental yield is the yearly rental income as a percentage of the property’s cost. In Singapore, the rental yields for condos can vary significantly depending on factors like location, property condition, and market demand. A prime location, such as near business districts or educational institutions, often translates to higher rental demand and better rental yields. To gain a comprehensive understanding of the rental potential of a specific condo, it is beneficial to conduct thorough market research and seek advice from real estate agents. Additionally, considering Singapore Projects can provide valuable insights into the rental prospects of a condo.

The Urban Redevelopment Authority (URA) announced on September 13 that the master developer site at Jurong Lake District (JLD), measuring …

Mr Chua and his family, who reside in Hong Kong, were one of the first 25 buyers at Draycott Eight, a luxurious private condominium with 136 units which was launched at the end of 2005. According to the caveat lodged, the Chua family purchased a 14th-floor unit with four bedrooms and 2,896 square feet for $5.1 million ($1,762 per square foot) in June 2006. One of the main reasons for their decision was the prime location of the condo at Draycott Park, situated near Scotts Road and Orchard Road. Mr Chua also mentioned that close family members had made purchases of floors upstairs and across the road.The Chua family has grown to love living at Draycott Eight, so they also bought the adjoining four-bedroom unit. This unit consists of 2,863 square feet and was purchased for $5.65 million ($1,973 per square foot) in November 2006, according to the caveat lodged …

The Urban Redevelopment Authority (URA) has just launched the tender for the Faber Walk GLS site in Clementi on September 12. This 99-year leasehold residential site, which is under the 2H2024 GLS Confirmed List programme, is expected to yield up to 400 housing units with a gross plot ratio of 1.4 and occupying about 277,660 sq ft.

Investing in a condo offers numerous advantages, including the opportunity to leverage the property’s value for future investments. A common tactic among investors is to use their condo as collateral to secure additional funding for new ventures, allowing them to grow their real estate portfolio. Though this approach can lead to higher returns, it’s not without its risks. That’s why it’s crucial to have a solid financial plan in place and carefully consider the potential effects of market changes. With numerous options for Singapore Condo investments, it’s essential to weigh all factors before …

Seibu Prince Hotels & Resorts, a subsidiary of Tokyo-listed Seibu Holdings, has made its Southeast Asian debut with the launch of Park Regis by Prince Singapore on September 3. The 203-room hotel, located in the Clarke Quay area, was previously known as Park Regis Singapore before undergoing extensive refurbishment and room improvements.

This includes upgrades such as complimentary high-speed Wi-Fi and 50-inch smart TVs with casting capability, as well as replacing most single-use plastics with more sustainable alternatives like water filters.

According to Alex Barnett, director of global brand and communications at Seibu Prince Hotels Worldwide, the refit and rebranding exercise has resulted in an increase in the hotel’s base room rates. The basic nightly rate has risen from around $200 in 2019 to approximately $230 following the relaunch.

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Investing in a condo has its own set of advantages, and one of them is the ability to leverage the …

The week of August 27 to September 3 saw a profitable condo resale transaction at The Draycott, with a unit on the 15th floor selling for $5.45 million ($2,067 psf) on August 30. The 2,637 sq ft unit was originally purchased in April 1996 for $3 million ($1,138 psf), resulting in a gain of $2.45 million for the seller. This reflects a capital gain of 82% for the seller, who had owned the unit for almost 28 and a half years.

The sale of this unit ties with another unit as the fourth-highest gain ever registered at The Draycott. In May 2021, a 2,626 sq ft maisonette unit sold for $4.5 million ($1,713 psf), also netting a profit of $2.45 million for the seller. The unit was originally purchased for $2.05 million ($781 psf) in June 1999.

In Singapore, one crucial factor to consider when investing in condos is the …

There is currently a portfolio of three industrial properties available for sale in the Tuas South industrial hub. The properties are being marketed through an expression of interest (EOI) exercise for a total of $36 million. According to a Sept 11 press release by JLL Singapore, the exclusive marketing agent, the sites can be bought together or separately at a guide price of $12 million each.

These three properties are used for warehousing and storing construction cranes and freight transportation services. They have been approved for Business 2 use and have a plot ratio of 1.0 as per the URA’s Master Plan 2019. All three properties have high ceilings with overhead cranes and plenty of open land for heavy vehicle circulation.

The properties are located at 9 Tuas South Street 9, 10 Tuas South Street 10, and 11 Tuas South Street 9. The property at 9 Tuas South Street 9 …

Accor, a renowned global hospitality brand, has recently revealed the debut of Novotel Nara in Nara, Japan. The magnificent property boasts 264 luxurious rooms and is conveniently situated within an eight-minute walk from Shin-Omiya Station and a five-minute cab ride from Nara Station. Its prime location also provides easy access to popular tourist attractions such as the Todai-ji Temple and Kasuga Taisha Shrine, both of which are recognized as UNESCO World Heritage sites. Additionally, with Nara being only a 35 to 40-minute train ride away from Kyoto and Osaka, guests at Novotel Nara can easily explore the vibrant cities.

The hotel boasts a range of facilities, including a rooftop terrace on its eighth floor, a comfortable lounge area, and an all-day dining restaurant. In addition, Novotel Nara offers versatile conference facilities, two banquet rooms, a fully-equipped fitness center, a relaxing public bath, and a wellness lounge for guests to unwind …

Savills research reveals that Singapore has ranked fourth among the Asia Pacific (Apac) cities in terms of leasing activity in the legal sector for the first half of 2024. This places the city-state behind Shanghai, Beijing, and Hong Kong.

Ashley Swan, Executive Director of Commercial at Savills Singapore, notes that legal firms in Singapore have been quite active in a relatively stable leasing market. Some firms have taken the opportunity to secure new premises in order to revamp their way of working and attract and retain top talent.

In summary, choosing to invest in a condo in Singapore can bring about a multitude of benefits. With a high demand for these properties, potential for appreciation of value, and attractive rental yields, it is an enticing opportunity for investors. However, before making a decision, one must carefully consider crucial factors such as location, financing options, government regulations, and the current state …

Looking for HDB shophouses? Find an agent now!

A two-storey HDB shophouse located at Block 177 Toa Payoh Central is currently up for sale through an expression of interest (EOI) exercise with a guide price of $5.88 million. The property’s ground-floor commercial unit measures approximately 635 sq ft, while the residential unit on the upper floor is about 710 sq ft. The shophouse has a remaining 46 years on its lease.

With a double frontage of 8.3m, this corner unit offers a lot of flexibility and potential for maximizing rental income through further subdivision or conversion, subject to relevant authority approvals. This was mentioned by the sole marketing agent for the property, Sammi Lim, founder and executive director of Brilliance Capital.

The ground-floor commercial unit is currently tenanted and can be sold with tenancy, providing investors with a stable recurring income. Meanwhile, the owners occupy the upper floor, which can …