Month: February 2025

An expression of interest exercise (EOI) is being held for a four-bedroom duplex apartment at 3 Orchard By-The-Park, a luxury freehold condominium, with a guide price of $15.8 million. Huttons Asia, the marketing agent, states that the unit spans over 3,800 sq ft, translating to approximately $4,158 psf.

The apartment boasts a 4m high ceiling and a private lift, with three of the four bedrooms featuring ensuite bathrooms. The unit underwent significant renovations three years ago, which cost over $700,000, as per Huttons.

Completed in 2017, 3 Orchard By-The-Park is situated on Orchard Boulevard and was designed by renowned Italian architect Antonia Citterio. It comprises three 25-storey towers and offers a total of 77 units, ranging from two- to four-bedroom units of 1,066 sq ft to 3,800 sq ft. The development also includes penthouses of 6,555 sq ft to 6,900 sq ft.

The development is in close proximity to the …

According to the latest quarterly research report from Huttons Asia, the shophouse market has been relatively quiet in 2024 with only 84 caveated transactions recorded. This number is significantly lower than the yearly average of 200 shophouse deals between 1995 and 2023.

Huttons Asia’s senior director of data analytics, Lee Sze Teck, notes that many buyers did not lodge a caveat, indicating that the number of shophouse deals in 2024 is most likely the lowest since 1998.

The total value of the 84 caveated shophouse transactions in 2024 was $683.6 million, a decrease of 38.9% from the $1.1 billion recorded in the previous year. However, there were also a number of substantial shophouse deals on properties such as Amoy Street, Neil Road, North Bridge Road, and Telok Ayer Street, which were not caveated. Lee estimates that these deals were sold for more than $200 million.

The largest shophouse deal in …

CBRE’s Report Suggests Uncertain Economic Outlook Could Lead to Divergent Outcomes in Real Estate Market

According to CBRE’s recently released Singapore Market Outlook 2025 report, the real estate market could face divergent outcomes in the next 12 months due to an uncertain macroeconomic outlook. On one hand, easing inflation and interest rates are expected to provide some relief for the property market. However, concerns about slowing economic growth may negatively impact property demand.

Moray Armstrong, managing director and advisory services at CBRE, points out that several factors may affect the market in the near future, including ongoing geopolitical tensions, a new US administration with a nationalistic economic agenda, and the release of the URA Master Plan 2025 in the middle of the year. Despite these mixed signals, opportunities still exist in the real estate market for those who can capitalize on emerging trends.

Tricia Song, CBRE’s head of research for …

The profitability of resale transactions in the luxury condo segment has been evident in recent months, with Palm Spring and Orchard Bel Air being prime examples. Located in prime District 10, Palm Spring achieved a profit of $3.19 million (264%) on the sale of a 1,884 sq ft unit, while Orchard Bel Air saw a profit of $3 million (182%) on the sale of a 3,229 sq ft unit.The recently concluded resale transactions in these two premium condos have shown a significant increase in value since they were first purchased. According to the data collated by EdgeProp Singapore, prices at Palm Spring have consistently increased over the past 20 years, with last month’s average transacted price reaching $2,342 psf – a stark contrast to the average price of $973 psf back in January 2005. Similarly, at Orchard Bel Air, the most recent sale of a four-bedroom unit on the 12th …

Condominiums between $1,200 and $2,000 psf on the rise

A three-bedroom unit at Watertown, the residential component of the Waterway Point integrated development in Punggol, is up for auction on Feb 26 by SRI. The 1,281 sq ft unit, which is a mortgagee sale, has a guide price of $2.4 million or $1,874 psf. This unit was previously listed for auction in January with the same guide price, but was withdrawn when the bid fell below the reserve price.

Located on the 13th floor, the unit boasts a spacious living and dining area, an open-concept kitchen, a utility room and toilet, and a south-facing balcony overlooking one of the condo’s 20 swimming pools. There is also an ensuite master bedroom, two additional bedrooms, and a common bathroom.

According to URA caveats, the unit was previously purchased from the developers for about $1.8 million or $1,281 psf in October 2013. So …

The government has recently announced that the Central Business District Incentive (CBDI) and Strategic Development Incentive (SDI) schemes will be extended for another five years. These schemes, which were first introduced in November 2019, aim to encourage the conversion of older office buildings in the Central Business District (CBD) into mixed-use developments.

This decision was announced by Desmond Lee, Minister of National Development (MND), at the Real Estate Developers’ Association of Singapore (Redas) annual Spring Festival lunch on Feb 7. The extension of these schemes is intended to inject more homes, increase the population living in the CBD, and introduce a greater mix of uses in the traditionally commercial-centric district.

The CBDI aims to encourage the redevelopment of existing older office buildings in certain areas of the CBD, such as Tanjong Pagar, Robinson Road, and Shenton Way. Meanwhile, the SDI was introduced to stimulate the redevelopment of older developments in …

Perennial Holdings and Far East Organization have announced plans for a new luxury apartment tower in the Beach Road area. The project, called Aurea, is part of the Golden Mile Singapore mixed-use development and was designed by DP Architects. It will feature 188 units spread across 45 storeys and occupy a site area of 144,908 sq ft. The tower will also be connected to the neighbouring commercial building, The Golden Mile, through a link bridge.

Located in prime District 7 and part of the Core Central Region (CCR), Aurea and The Golden Mile are expected to attract discerning individuals and families who appreciate the exclusivity of a prime Downtown Core address. The preview for Aurea will begin on Feb 22, with the official launch to follow on Mar 8. Prices for the apartments will start from $2,750 psf.

The apartments at Aurea will come in various sizes and layouts. The …

On February 6, Perennial Holdings and Far East Organization announced their plans for Aurea, a luxury apartment tower that will be part of the Golden Mile Singapore mixed-use development along Beach Road.

Designed by DP Architects, Aurea will consist of 188 units spread across 45 storeys and will occupy a site area of 144,908 sq ft. The development will also have a link bridge connecting it to the neighbouring The Golden Mile, a commercial building with a mix of retail space, medical suites, and offices.

Previously known as Golden Mile Complex, The Golden Mile has been conserved for its architectural heritage and was the first collective sale and conservation of a building. Perennial Holdings and Far East Organization purchased the building en bloc for $700 million in May 2022.

The apartments in Aurea will be priced from $2,750 psf and will consist of a variety of unit types. This includes …

Elta, a new residential development located in the sought-after Clementi area, will soon be launched by MCL Land and CSC Land Group. Comprising 501 units, this 99-year leasehold property spans across a land area of approximately 144,788 sq ft. The development, situated along Clementi Avenue 1, boasts two 39-storey residential towers.

Prospective buyers can expect a range of unit types, from cozy one-bedroom-plus-study units to spacious five-bedroom units. The sizes of these units range from 506 sq ft to 1,776 sq ft. Developers have also highlighted that Elta will adhere to URA’s harmonisation guidelines.

Interested buyers can get a glimpse of the development during its preview from February 7, with the official launch scheduled for February 22. Prices for the units start from $1.158 million ($2,289 psf) for one-bedroom-plus-study units, $1.388 million ($2,261 psf) for two-bedroom units, and $2.198 million ($2,374 psf) for three-bedroom units. The larger units of four …

a guide price of $42 million has been set for the sale of a high-specification warehouse cum factory located in Gul Circle. The property, marketed exclusively by Knight Frank Singapore, is being sold through an expression of interest.The facility is a five-storey single-user factory and warehouse with a mezzanine spanning four floors. Its total gross floor area is approximately 245,955 sq ft, and it sits on a 105,648 sq ft site with a remaining leasehold tenure of 15 years and 11 months, as of Feb 1. The site is zoned as Business 2 under the URA Master Plan 2019.Knight Frank Singapore states that the property has been designed to meet modern industrial requirements, offering features such as high ceilings for storage and operations, cold rooms, and heavy floor loading capabilities that can accommodate various industries. The property also boasts nine 40-footer loading and unloading bays with dock levelers, as well …