Month: December 2024

​Next year, 2025, will see the introduction of three new executive condominiums (ECs), with Sim Lian Group’s Aurelle of Tampines leading the pack. This 760-unit development, situated at Tampines Street 62, is set to launch in the first quarter of the year, most likely after the Lunar New Year. This launch follows the immense success of the Emerald of Katong, a 846-unit development, which is now over 99% sold.

The site for Aurelle of Tampines is situated at Tampines Street 62 (Parcel B) and was acquired by Sim Lian Group for $543.28 million during the government land sales (GLS) tender in October 2023. This translates to a price of $721 per square foot per plot ratio (psf ppr).

With the rising costs of construction and the harmonisation of gross floor area (GFA) definitions, PropNex CEO Ismail Gafoor predicts that Aurelle of Tampines could potentially set a new price benchmark, surpassing …

Ardmore Park, the luxury condo located in the prestigious Ardmore-Draycott enclave of prime District 10, recorded some of the largest gains in resale transactions throughout 2024. Based on caveats lodged with the URA as of December 17, it accounted for the top, second and fourth most profitable condo resale deals this year.

The most profitable transaction was a four-bedroom unit on the 26th floor of Ardmore Park, which sold for $12.9 million ($4,472 psf) on February 16. This unit measures 2,885 sq ft and was originally purchased from the developer for $5.83 million ($2,022 psf) in July 1996. This resulted in a profit of $7.07 million, a 121% gain after holding the unit for about 27 and a half years.

The second-largest gain was recorded on July 24, when another four-bedroom unit measuring 2,885 sq ft on the 18th floor of Ardmore Park changed hands for $12 million ($4,160 psf). …

In the exclusive world of the ultra-rich, the market for Good Class Bungalows (GCBs) has shown significant growth this year compared to the previous year, according to Han Huan Mei, the director of research at List Sotheby’s International Realty. As of December 20, there have been 22 GCB transactions totaling $612.05 million, and another 13 deals worth over $700 million completed without caveats lodged, as buyers sought anonymity. This brings the estimated total for 2024 to 35 GCB transactions worth around $1.32 billion, exceeding the previous high of $1.186 billion achieved in 2022. In contrast, there were only 18 GCB transactions in 2023, amounting to $432.5 million, the lowest number of deals recorded since URA Realis began tracking such data in January 1995.

“The additional deals in 2024 show that the GCB market has been more active compared to official transaction data,” says Han. “It also confirms the status of …

Singapore’s property market saw a significant increase in capital market property deals, reaching a total estimated value of $25.8 billion between January and November this year. This is according to Wong Xian Yang, head of research for Singapore & Southeast Asia at C&W. This marks a 40.2% year-on-year increase from the $18.4 billion recorded in 2023. C&W defines capital market transactions as deals with values exceeding $10 million.

According to Wong, the second half of 2024 saw a surge in investor appetite, fueled by increased confidence in interest rate cuts by the US Treasury. As a result, almost 60% of the capital market deals were transacted in the second half of the year. Three deals exceeding $1 billion were made in 2024, all of which were transacted in the second half of the year.

The highest-value transaction by absolute price was the sale of a 50% stake in ION Orchard …

Singapore’s retail property market is projected to experience a slowdown in rental growth by the end of the year due to weaker-than-expected consumer spending. According to Alan Cheong, executive director of research and consultancy at Savills Singapore, consumer spending has been relatively weak in 2024, with most monthly retail and F&B sales experiencing negative year-on-year changes.

Cheong predicts a 2% increase in rents for prime Orchard Road properties by the end of the year, which falls short of the initial forecast of 3% to 5% growth by Savills at the beginning of the year. The rental forecast for suburban retail properties remains flat, in line with the initial projection.

However, recent research by DBS and Singapore Management University (SMU) shows that consumer concerns over inflation have mostly subsided in the last few quarters. The research, conducted by SMU’s Sim Kee Boon Institute for Financial Economics (SKBI), suggests that most Singaporeans …

The year 2024 has presented a number of challenges for the global luxury goods market. With macroeconomic uncertainty and rising prices among brands, consumers have been cutting back on luxury retail spending. According to a recent report by Bain & Company, global sales of personal luxury goods are expected to decline by 2% this year, with a significant drop of 20-22% in China, a key market. Major luxury conglomerates like Richemont, LVMH and Moncler Group have reported slight declines in earnings, while Kering has seen more significant decreases. However, outliers like Hermes and Prada Group, which also owns the successful brand Miu Miu, have bucked this trend with double-digit earnings growth.

Despite these challenges, Singapore remains an important market for luxury brands. Euromonitor reported a growth of 11% in luxury goods sales, totaling $9.1 billion in 2023. In recent years, luxury brands such as Dior, Chanel and Louis Vuitton have …

The Swiss brand V-ZUG takes pride in its simplistic, yet high-quality approach to designing products that withstand the test of time. For over a century, V-ZUG has been a leading brand in interior design, captivating the attention of developers and designers of luxury homes all around the world.

V-ZUG’s philosophy centers on creating functional and elegant appliances that will never go out of style. While other interior design trends come and go, V-ZUG’s commitment to simplicity and quality remains constant.

With a history dating back to 1913, this Swiss brand has been a favorite among developers and designers of luxury residences. Today, V-ZUG products can be found all over the world, from its home base in Switzerland to major cities like Shanghai, London, and Singapore.

What sets V-ZUG apart from its competitors is its focus on combining durability with sleek aesthetics. The brand’s dedication to craftsmanship and quality control is …

HDB hub in Toa Payoh up for sale at $1.2 bil ($1,068 psf ppr)Tech park at Tuas South Street 15 up for sale at $325 mil…

By the EdgeProp team

In the first six months of 2024, the property market in Singapore saw sluggish performance, with boutique developments dominating and the lowest number of units launched for sale since 1996. According to Huttons Data Analytics, only 1,889 units were sold, which is also the lowest figure since 1996. The exception was the launch of the 533-unit Lentor Mansion, which achieved a 75% take-up rate. However, most other project launches saw lackluster sales compared to the previous year.

Huttons Asia CEO Mark Yip notes that market sentiment was cautious and uncertain, possibly due to a weak job market and high interest rates. Buyers were likely holding back, waiting for highly anticipated project launches later in the year, such as Chuan Park and Emerald of Katong. Interested buyers can search for the latest New Launches to find out the transaction prices and available units.

However, towards the second …

of District 15 apartmentsThe past year saw the Rest of Central Region (RCR) and Outside Central Region (OCR) regions dominate the list of best-selling new launches of 2024. Driven by strong demand from HDB upgraders, these projects saw high sales figures supported by a robust HDB resale market, according to CEO of Huttons Asia, Mark Yip.Three of the top 10 best-selling projects of 2024 were launched in November, with Emerald of Katong emerging as the top-selling project of the year. With 99% of its 846 units sold within just two days, Emerald of Katong has only six available units as of Dec 17.Read more:Resale homes clock 70 transactions at $1 mil or more each in NovemberTreasure at Tampines sells 127 units in NovemberThe 846-unit, 99-year leasehold development sold out within 2 days, making it the best-selling project of the year. With only six available units as of Dec 17, buyers …