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 …

The Government Land Sale (GLS) tender for Media Circle (Parcel A) in one-north closed on March 4 with a winning bid of $315 million from the consortium of Qingjian Realty, Forsea Holdings, and minority investor Hoovasun Holding. The 99-year leasehold site is zoned for residential use, with commercial spaces on the first storey.The top bid translates to a land rate of $1,037 per square foot per plot ratio (psf ppr) for the 82,125 square foot site, which has a maximum gross floor area of 303,865 square feet. The proposed development could have about 325 housing units and two high-rise residential towers.The neighbouring Media Circle GLS plot, which will be home to the upcoming Bloomsbury Residences with 358 units, was awarded to Qingjian and Forsea in January 2024 at $395.28 million, or $1,191 psf ppr. Du Dexiang, managing director of Qingjian Realty, is confident in the upcoming transformation of Media Circle, …

HPL (Hotel Properties Ltd), a leading player in the property and hotel industry, is making strides in expanding their global reach with the acquisition of InterContinental Auckland, worth NZ$180 million ($138.5 million). This marks a significant milestone for the group as it will be their first investment in the New Zealand market, and their second InterContinental hotel acquisition after the successful launch of InterContinental Maldives Maamunagau Resort.

The transaction was an off-market deal, facilitated by JLL’s Asia Pacific Hotels & Hospitality Group, who advised on the sale by New Zealand’s Precinct Properties. According to JLL, this is the largest single hotel asset sale ever recorded in New Zealand. The purchase of the Auckland hotel comes shortly after HPL opened The Boathouse Tioman in Malaysia, offering 31 luxurious bungalows, and the 176-room Four Seasons Hotel Osaka in Japan, last year.

HPL has expressed their ambition to expand their portfolio of upscale …