Month: March 2025

The executive condominium market continues to thrive in Singapore as developer Sim Lian Group reported selling 682 out of 760 units at their project, Aurelle of Tampines, during its launch on Mar 8. This translates to a whopping 90% of the units being sold, with an average price of $1,766 per square foot (psf).

Situated in Tampines, one of Singapore’s most well-connected regional centres, Aurelle of Tampines offers thoughtfully designed and conveniently located modern homes, making it a highly sought-after option for first-time buyers and upgraders.

The project’s impressive sales figures also set a new benchmark for executive condominiums in the market. Ismail Gafoor, CEO of PropNex, notes that the average price of $1,766 psf is the highest launch price for an EC to date. He adds that the 90% take-up rate is also the highest since the 531-unit Hundred Palms Residences was sold out on launch day in July …

A three-bedroom unit at One Holland Village Residences has made headlines by topping the list of private condos with a new psf-price high. The 1,238 sq ft unit, located on the 25th floor, was sold for a record-breaking price of $3,781 psf on Feb 17. The sub-sale transaction marks the first sale at the 99-year leasehold development this year and surpasses its previous record price of $3,426 psf from a sale by the developer in August 2022.The sellers of the unit had previously purchased it from the developer for about $4.19 million, or $3,385 psf, in November 2023. This means they made a handsome profit of approximately $490,000.The highly sought-after One Holland Village Residences is a 296-unit development located along Holland Village Way and was launched in 2019. The District 10 condo comprises a mix of one-bedroom, two-bedroom, three-bedroom, four-bedroom, and five-bedroom units. All units were fully sold out upon …

A 9,009 sq ft, three-storey terrace factory at Midview City is up for sale at a guide price of $6.2 million or $688 psf. Colliers International, the exclusive marketing agent for the property, announced the sale.

Located along Sin Ming Lane in the heart of Sin Ming Industrial Estate, the factory can be found within a 60-year leasehold building that was completed in 2012. The property is zoned as a “Business 1” site under the URA Masterplan 2019 and comprises a basement and a roof terrace.

According to Colliers International, the property has been fully leased and currently operates as a childcare centre, with Star Learner as the current preschool operator. With a strategic location, it is easily accessible from Bishan and Upper Thomson residential areas and within walking distance to Bright Hill MRT Station on the Thomson-East Coast Line.

The property will be sold with the existing preschool operator …

Investors are showing increasing interest in deploying capital into Asia Pacific real estate markets that boast high levels of liquidity, according to Hamish MacDonald, head and chief investment officer of APAC Real Estate at BlackRock. Among the property sectors set to benefit from economic tailwinds this year are accommodation, logistics, and alternative assets. “This year, we are focusing on markets in Asia Pacific where liquidity is abundant, including Australia, Japan, Singapore, and Auckland in New Zealand. This list also reflects the order of our priorities at BlackRock this year,” says MacDonald. He believes that investor sentiment will be more bullish this year compared to 2023 and 2022, with institutional investors initiating discussions about deploying and recycling capital in selective Asia Pacific real estate markets this year.

In Singapore, BlackRock has been targeting serviced apartment properties, partnering with YTL Corp to acquire Citadines Raffles Place for about $290 million last October. …

The past few years have seen a trend of shrinking unit sizes in Singapore’s show flats. This is due to our perception of size being relative to what we are used to. In the 1990s and 2000s, the average size of HDBs and condos, where most of us grew up, were larger. However, as demographics changed, with the average household size decreasing from four in 1995 to 3.1 in 2024, the average size of new condos also decreased from 1,272 sq ft in 1995 to 929 sq ft in 2024.

The 29-year period saw a decline of 5.7% in average condo size per capita, a commendable feat given Singapore’s land constraints. This was made possible with the government’s intervention, particularly in 2008 when “Mickey Mouse” units were introduced in Rest of Central Region (RCR) projects, with sizes as small as 24 sq m (258 sq ft) and prices as low …

Answer: The Ministry of National Development (MND) has recently announced updates and improvements to the Silver Housing Bonus (SHB) and Fresh Start Housing Scheme (Fresh Start) during the annual Committee of Supply debate. These changes aim to assist senior citizens in right-sizing and make public housing more accessible for lower-income households living in HDB rental flats.

The SHB encourages senior citizens to plan for retirement by converting the value of their housing assets into their CPF Retirement Account (RA). Currently, to qualify for the SHB, applicants must be aged 55 and above, have a monthly income under $14,000, own a property with an Annual Value (AV) below $21,000, and downsize to a HDB flat sized three-room or smaller (excluding three-room terrace).

Presently, applicants who opt to top-up their CPF RA by up to $60,000 can receive a maximum cash bonus of $30,000. This bonus is pro-rated at $1 for every …

The Ministry of National Development (MND) has announced changes to the Additional Buyer’s Stamp Duty (ABSD) regime for licensed housing developers, which will go into effect on March 6. The revisions include an extension of the ABSD remission timeline for developers undertaking complex projects from six to 12 months. This move is aimed at incentivizing developers to take on urban transformation projects, optimize land use through intensification or integration, revitalize older estates, or adopt new construction technologies.

Projects eligible for the extended remission period include en bloc redevelopments that will yield at least 700 units upon completion, with at least 1.5 times the number of units of the existing development. Other projects that qualify include those with complex technical or instructional requirements, such as developments integrated with major public transport facilities. Additionally, projects approved under the Strategic Development Incentive (SDI) scheme and those aiming to achieve higher productivity targets through …

into Singapore

The Land Transport Authority (LTA) has commenced feasibility studies for two new MRT lines. These lines, expected to be completed in the 2040s, aim to serve more than 400,000 households.

The first proposed line, known as the Seletar Line, will serve areas such as Woodlands, Sembawang, Sengkang West, Serangoon North, Whampoa, Kallang and the Greater Southern Waterfront. The second, tentatively named the Tengah Line, will complement the existing transport network in the west and northwest regions by serving areas like Tengah, Bukit Batok, Queensway and Bukit Merah.

According to a speech by Transport Minister Chee Hong Tat in parliament on March 5, the Seletar Line and Tengah Line may eventually be connected, pending the results of LTA’s feasibility studies.

Minister Chee also announced LTA’s plans to proceed with the West Coast Extension (WCE), which will extend the Jurong Region Line (JRL) to connect with the Circle Line (CCL) …

Elias Green, a 99-year leasehold condominium located in Pasir Ris, will soon be put up for collective sale through public tender on March 6. The marketing agent for the sale, ERA Realty Network, has announced that the property has a guide price of $928 million.

The development, which was completed in 1994, sits on a land area of approximately 516,871 sq ft and has a residential zoning with a gross plot ratio of 1.4. It comprises of multiple blocks and has a total of 419 apartments with sizes ranging from 1,367 to 1,636 sq ft. The site has a remaining lease of 65 years as it was initially issued with a 99-year lease in 1991.

According to ERA, the guide price of $928 million translates to a land rate of $1,355 psf per plot ratio (ppr). This figure takes into account an estimated land betterment charge of $150.8 million for …