BTO: Fewer available flats compared to October BTO

The latest round of the Home Improvement Programme (HIP) has selected over 29,000 HDB flats, as announced in a press release by HDB on February 16. The government has allocated a whopping $407 million for the necessary upgrading works.

These chosen flats are located in 13 different estates including Bedok, Bukit Batok, Bukit Merah, Bukit Panjang, Chua Chu Kang, Hougang, Jurong West, Pasir Ris, Queenstown, Sengkang, Tampines, Toa Payoh and Woodlands.

Since its inception in 2007, the HIP was created to assist flat owners in addressing common maintenance issues that arise due to wear and tear in older flats. Minister for National Development Desmond Lee has stated that since then, close to 381,000 flats have undergone upgrades, with a whopping 494,000 flats, or nine out of ten eligible flats, selected for the programme.

The HIP aims to carry out essential improvements to …

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An opportunity to purchase a 3,391 sq ft strata-titled unit in Bukit Timah Plaza mall has arisen as it is now on the market. Approved for restaurant use, this unit is being sold for $9.8 million, which translates to a unit price of $2,890 psf. This represents a 12% discount from the previous listing price of $11 million in the third quarter of 2022. According to Clemence Lee, CBRE’s executive director of capital markets, who is handling the sale of the property, this is a great deal.

The unit, located in the basement two of the mall, boasts a 20m frontage facing the central plaza. It is currently fully leased and will be sold with the existing tenancy. The unit has a 99-year lease starting from 1976, meaning it still has a remaining lease of 50 years.

The pricing of the unit is in line with recent transactions in …

The Peninsula Plaza is a 30-storey mixed-use commercial building with a six-storey retail podium and a 24-storey office tower. It was built in 1980 and has a leasehold tenure of 999 years. The two adjoining strata retail units situated on the ground floor of Peninsula Plaza are on the market for a total price of $10.9 million. This translates to a price of $9,741 per square foot based on the strata area of the units. The total area of the two units combined is 1,119 square feet, with one unit measuring 538 square feet and the other 581 square feet. The properties are currently tenanted until 2026, and at the asking price, investors can expect a 3% gross rental yield.

Nick Chan, the associate director of investment sales & capital markets at Savills Singapore, who is handling the sale of the units, describes them as “arguably the best” within the …

Brand New Land, a visionary property development company, has teamed up with Tellus Design, a renowned player in the Good Class Bungalow (GCB) design industry, to create a collection of accessible luxury semi-detached homes. With a 30-year working relationship, the two companies collaborated to create four stunning homes in Bukit Timah and Upper Bukit Timah, each incorporating key elements from the best GCB design practices.

Nestled in the serene and lush surroundings of nature, the semi-detached homes at 23 & 23A Maple Avenue have a wide frontage of over 24m. The homes at 25 & 25A Jalan Selanting and 23 & 23A Maple Avenue, known fondly as “The Great Trees Collection”, boast land sizes ranging from 2,790 to 3,130 sq ft, elevators, swimming pools, and gourmet kitchens.

In line with Brand New Land’s philosophy of providing value to their clients, these homes are priced within the bank valuation range, leaving …

SRI’s next auction on Feb 26 will feature a two-storey shophouse located at 214 Serangoon Avenue 4, with a total floor area of 1,668 sq ft. This 99-year leasehold HDB property comes with living quarters on the second floor and is listed with a guide price of $1.98 million, or $1,187 psf based on its floor area.

This is the second time the shophouse is being put up for auction by SRI, after it failed to find a buyer in the previous auction with a higher guide price of $2.08 million.

The property is currently tenanted and generating a gross rental yield of about 6.2% based on the guide price, says Jansen Kee, assistant manager of auctions at SRI. The lease will be transferred to the new owner upon purchase, providing immediate rental income until 2026.

Kee also highlights that the guide price for the HDB shophouse is one of …

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 …