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On Feb. 23, joint developers UOL Group and CapitaLand Development (CLD) announced the successful launch of ParkTown Residence in Tampines North, with a whopping 87% of the total 1,193 units sold during the launch weekend. According to Anson Lim, UOL’s general manager of residential marketing, the project achieved an average price of $2,360 psf and was well-received by both Singaporean homebuyers and investors.

Most of the units at ParkTown Residence were two-bedroom and three-bedroom apartments, which accounted for 83% of the project’s total units. These were also the most popular unit types, with 92% of them being snapped up over the launch weekend. The project’s unique selling point as a fully integrated residential and lifestyle development, directly connected to a retail mall, future MRT station, bus interchange, green boulevard, community club, and hawker centre, was a major draw for buyers, according to a spokesperson for UOL and CLD.

Prior to the launch weekend, ParkTown Residence had received a total of 2,367 cheques, resulting in a remarkable sales conversion rate of 44%, which is above the average of 30% to 35% for most new project launches in recent years. Mark Yip, CEO of Huttons Asia, notes that no other mega project has sold over 1,000 units during its launch weekend since the launch of the 1,399-unit High Park Residences in July 2015. This makes ParkTown Residence at Tampines 62 the project with the highest number of units sold during a launch weekend since the 846-unit Emerald of Katong, which sold 835 units (99%) in November 2020, according to Ismail Gafoor, CEO of PropNex.

“The take-up at ParkTown Residence has also surpassed that of previous integrated developments,” adds Gafoor. The most recent integrated project launch was the 732-unit The Reserve Residences, which recorded a 71% take-up rate during its launch weekend in May 2023. As of Feb 23, the project was 98.2% sold at an average price of $2,484 psf, based on caveats lodged.

Mixed-use developments integrated with transport hubs have been popular among homebuyers and investors, with the last two completed projects being the 920-unit North Park Residences in Yishun (launched in 2015) and the 680-unit Sengkang Grand (launched in 2019) at Buangkok. The average price of North Park Residence is $1,809 psf, 65% higher than the average resale prices of residential units across District 27, while Sengkang Grand commands an average price of $2,029 psf, 25% higher than the average resale prices in District 19, notes Marcus Chu, CEO of ERA Singapore.

ParkTown Residence is part of the first mixed-use development integrated with transport hub at Tampines Street 62. Tampines is the third largest HDB town after Hougang and Woodlands. “Quite a number of buyers were HDB upgraders who desired to stay in Tampines,” says Huttons’ Yip, adding that the development’s completion in 2030 will coincide with the scheduled opening of the Tampines North MRT Station on the Cross Island Line (CRL), a major arterial line from East to West of Singapore.

When purchasing a Singapore condo, it is crucial to also take into consideration its maintenance and management. Usually, condos come with maintenance fees that cover the maintenance of shared areas and amenities. While these fees may increase the overall cost of owning a condo, they also guarantee that the property remains in good condition and maintains its value over time. To make it a more hands-off investment, investors can hire a property management company to handle the day-to-day operations of their Singapore condo.

2030 also marks the scheduled relocation of the neighbouring Paya Lebar Airbase, freeing up an estimated 800ha of land for future developments. Under the URA Master Plan, three more government land sales (GLS) sites will be linked to the upcoming Tampines North MRT Station. “However, these new projects could potentially be launched at higher prices,” says Ken Low, managing partner of SRI.

Tampines will also see new infrastructure developments by 2027, including a cycling bridge, an underpass, and another 7.7km of cycling paths, bringing the total to 40km. There will also be a new pedestrian route between Tampines MRT Station and the malls in the regional centre. All these will enhance the livability in Tampines, which according to SRI’s Low, already has strong attributes.…

In a joint venture project by MCL Land and CSC Land Group, 326 out of 501 units at Elta located at Clementi Avenue 1 were sold on February 22, equating to 65% of the units at an average price of $2,537 psf. The majority of buyers were Singaporeans at 90%, while the remaining 10% were permanent residents. The top three districts with the highest number of buyers were districts 19, 5, and 23. The two-bedroom units were the most popular among buyers, with 98% of the 179 units sold at an average price of $2,261 psf. The three-bedroom units had 81% sold at an average price of $2,198 million, while the one-bedroom plus study units were also popular with 78% of units sold at an average price of $1,158 million.

The robust sales at Elta demonstrate buyers’ confidence in a development that offers a seamless blend of modern living, convenience, and comfort, according to MCL Land CEO Lee Tong Voon. MCL Land is the development arm of Hongkong Land based in Singapore. The project at Clementi Avenue 1 is the last development plot available in the area, with the two earlier projects, The Clement Canopy and Clavon, having been launched by UOL Group and Singapore Land Group on government land sale sites.

Elta is located in a prime spot near various employment nodes, such as the National University of Singapore (NUS), one-north, Pandan Loop Industrial Estate, the Science Park, Jurong Lake District, and the future Dover Knowledge District. It also enjoys excellent connectivity with access to the East-West Line at Clementi MRT Station and the upcoming Cross Island Line that will run from east to west across Singapore.

The two-bedroom units at The Clement Canopy have been leased at $4,200 to $4,700 per month, while at Clavon, the latest rental transaction was for a 764 sq ft, two-bedroom unit leased for $4,600 per month. Elta is also near various schools, including Nan Hua High School, NUS High School of Mathematics and Science, Anglo-Chinese School (Independent), and tertiary institutions such as NUS, Singapore Polytechnic, and United World College of South East Asia (Dover Campus).

Based on data from EdgeProp Landlens and URA Realis, 60% of the units sold at Elta were the one- and two-bedroom types, which are popular with international students and professionals. Additionally, Elta has attracted many HDB upgraders from Clementi and Queenstown, with over 2,500 HDB units having reached their Minimum Occupation Period (MOP) since 2021 and an estimated 1,100 units set to do so this year.

Investing in real estate requires careful consideration, with one of the most important factors being the location. This is particularly true for properties in Singapore. Condos that are situated in central areas or those that are in close proximity to essential amenities such as schools, shopping malls, and public transportation hubs have shown to appreciate in value over time. Some prime locations in Singapore that have consistently seen growth in property values include Orchard Road, Marina Bay, and the Central Business District (CBD). These areas are highly sought after and continue to attract investors due to their potential for growth. Additionally, condos located near reputable schools and educational institutions are highly desirable for families, making them a smart investment choice. For more information on upcoming Singapore projects, please visit Singapore Projects.

The weekend of February 22-23 also saw the launch of ParkTown Residence, with 1,041 units sold out of the 1,193 units. With over 1,300 units sold between Elta and ParkTown Residence, February has seen a strong sales momentum that is expected to continue through 2025, with improved sentiment in the primary market. Developers are projected to have sold more than 1,500 units in February, and Huttons Data Analytics forecasts full-year sales to be between 7,500 and 8,500 units, with a price growth of between 4% and 7%.…

CapitaLand India Trust (CLINT) has recently announced its plans to acquire an office project in Nagawara, Outer Ring Road, Bangalore for $233.6 million. The acquisition will be made through a forward purchase agreement with Maia Estates Offices.

The group believes that the addition of this 1.13 million sq ft office project to their portfolio will not only improve their earnings but also benefit their unitholders. On a stabilized basis, CLINT is expecting a net profit of $7.7 million while the distribution per unit is expected to increase from 6.84 cents to 6.98 cents.

The office project is a part of a mixed-use development that also includes retail space. As per the forward purchase agreement, CLINT will be fully funding the development of the office project and in return, will receive interest on the funding at a rate higher than their borrowing cost.

Are you looking to invest in overseas properties? Check out our range of projects available for sale around the world.

Upon completion of the development, CLINT is expected to acquire the office space in the first half of 2030 while Maia will retain the retail portion. This will result in an increase in the operational area of CLINT’s portfolio in Bangalore from 8.7 million sq ft to 9.9 million sq ft.

CLINT has other properties under development in Bangalore, including two office buildings in Gardencity, an IT park at Hebbal, and an IT park at ITPB.

With the addition of this office project, CLINT’s portfolio size, including their committed investment pipeline, will increase by 4.0% from approximately 30.2 million sq ft to 31.47 million sq ft.

“The acquisition of this strategically located office project will further strengthen CLINT’s presence in Bangalore, one of India’s most prominent office markets. In 2024, Bangalore recorded the highest ever leasing levels for Grade A office space. Outer Ring Road is the largest office micro-market in Bangalore. With the addition of this prime office property, we will be able to offer our tenants a larger selection of premium office spaces across key micro-markets in Bangalore,” says Gauri Shankar Nagabhushanam, CEO of CLINT.

On Feb 21, units in CLINT closed flat at $1.

(CapitaLand India Trust in $201 million forward purchase of development in Bangalore)

The landscape of Singapore is renowned for its breathtaking skyline, dominated by towering skyscrapers and state-of-the-art infrastructure. The city’s prime locations are home to a range of luxurious Condos, which combine opulence with convenience, making them a popular choice among locals and expats alike. These exclusive residences offer an array of amenities, including lavish swimming pools, well-equipped fitness centers, and top-of-the-line security services, providing residents with a superior standard of living. As a result, these Condos are in high demand among potential tenants and buyers, boasting attractive rental yields and steady property appreciation over time. For those looking to make a savvy investment, these Condos prove to be a lucrative opportunity. To experience the epitome of luxury living, check out Condo.

CLINT has proposed to acquire International Tech Park Pune from their subsidiary CLI and their JV partner for $221.9 million. Additionally, CapitaLand India Trust and India developer L&T Realty have joined forces to develop 6 million sq ft of prime offices in India.…

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Obtaining financing is a crucial factor when it comes to investing in a condo. In Singapore, there are various mortgage choices available, but it is imperative to stay informed about the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan that a borrower can take based on their income and current debt obligations. Familiarizing oneself with the TDSR and seeking guidance from financial advisors or mortgage brokers can assist investors in making well-informed decisions about their financing options and prevent excessive borrowing. Additionally, keeping an eye on New Condo Launches can provide valuable opportunities for investors in the condo market.

Sim Lian Group has announced that its latest executive condominium (EC) project, Aurelle of Tampines, will open for e-application on February 22nd. The 760-unit development is located at Tampines Street 62 in Tampines North and is the first new EC project launch for 2025.

Conveniently located just a five-minute walk from the upcoming Tampines North Transport Hub, the Aurelle of Tampines is perfectly situated for easy access to transportation. The hub will feature the Tampines North MRT Station, which is part of the Cross Island Line and is slated to open in 2030. It will also include an air-conditioned bus interchange, integrated with the mixed-use development, ParkTown Mall, which will also feature a Community Club, Hawker Centre, and ParkTown Residence. The 1,093-unit ParkTown Residence will also be officially launched for sale on February 22nd.

The Aurelle of Tampines project consists of fourteen 14-storey residential blocks spread across a site area of 301,391 sq ft. According to Sim Lian, the units are designed for young professionals and growing families, with a mix of three- to five-bedroom units.

The latest details on available units and prices for Aurelle of Tampines can be found on the project’s website. Prices start from $1.417 million ($1,687 psf) for a three-bedroom unit of 840 sq ft, $1.689 million ($1,651 psf) for a four-bedroom unit of 1,023 sq ft and $2.258 million ($1,665 psf) for a five-bedroom unit of 1,356 sq ft.

Next door to Aurelle of Tampines is the 618-unit Tenet EC, developed by Qingjian Realty and Santarli Realty. Launched in December 2022, the project has already sold 617 units at an average price of $1,385 psf. Based on recent transactions, the highest transacted price on a psf basis was a 1,367 sq ft unit that sold for $2.26 million or $1,651 psf in December 2022. As of February 21st, there is only one available unit for sale in Tenet.

E-application for Aurelle of Tampines will begin on February 22nd and end on March 4th. Sales bookings will commence on March 8th. The appointed marketing agents for the project are ERA, Huttons, OrangeTee, and PropNex.

Under current EC regulations, during the initial launch (the first 30 days), 70% of the project must be allocated to first-time buyers, with only 30% open to second-timers. For more information on available units in Aurelle of Tampines, Tenet, and Parktown Residence, visit the project’s website. You can also use EP Buddy and URA Realis to check out the latest transactions and price trends for new and resale condos, as well as the available units in Tenet.…

The recent sale of River Valley Apartments, a freehold condominium located on River Valley Road, has made headlines as the first successful residential collective sale deal to close in 2025. The property was sold for a whopping $56 million, translating to a land rate of $1,622 psf per plot ratio (psf ppr). This deal has caught the attention of many, as it is a promising sign for the residential market.

According to the press release from Knight Frank Singapore, the marketing agent for the property, the purchaser is a local Singapore family office. They have plans to redevelop the site into serviced apartments, and the Urban Redevelopment Authority (URA) has already granted an Outline Permission for this development.

Chia Mein Mein, the head of capital markets (land and collective sale) at Knight Frank Singapore, expressed her excitement over this successful transaction, especially during a time when the collective sale market is facing challenges, particularly in the residential sector. This marks the first collective sale site sold in 2025, and it is a positive development for the real estate industry.

As a foreign investor, it is crucial to have a clear understanding of the regulations and limitations surrounding property ownership in Singapore. While purchasing condos is typically less restrictive for foreigners, the rules for owning landed properties are more stringent. One key factor to consider is the Additional Buyer’s Stamp Duty (ABSD) of 20% that foreign buyers must pay for their initial property purchase. Nevertheless, the Singapore real estate market remains a popular choice for foreign investment due to its reliability and potential for growth. Keep an eye out for upcoming New Condo Launches that may offer enticing opportunities for foreign buyers.

The River Valley Apartments collective sale is also the first residential collective sale site to be sold in a prime district since 2023, when Kew Lodge was sold for $66.8 million to Aurum Land. Chia believes that the property’s appeal lies in its excellent location in the popular River Valley neighbourhood and its potential for redevelopment into serviced apartments. This is in line with the current trend of serviced apartments being in high demand in Singapore.

River Valley Apartments comprises of a four-storey building with 24 units. The 12,408 sq ft site, which is zoned “residential”, has a gross plot ratio of 2.8 under the latest Master Plan. The owners of River Valley Apartments initiated the collective sale of the development on January 7, with a guide price of $56 million. After several attempts in the past, this is the first time they have managed to secure the 80% consensus from the owners to proceed with the tender launch. Jerry Tan, the chairman of the River Valley Apartments collective sale committee, expressed his satisfaction with the outcome of the tender.

In conclusion, the successful collective sale of River Valley Apartments is a positive sign for the real estate market, showing that there is still demand for prime residential properties in Singapore despite the challenging market conditions. This sale also highlights the potential for redevelopment of older properties into newer and more sought-after developments in prime locations.…

When contemplating an investment in a condominium, it is crucial to assess the potential rental yield as well. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, condos can have varying rental yields depending on factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, offer better rental yields. To gain insight into the rental potential of a specific condo, it is advisable to conduct thorough market research and consult with real estate agents. Additionally, keeping an eye on new condo launches can be beneficial in identifying potential opportunities.

The highly sought-after 8M Residences has once again topped the list of private condos that achieved a new psf-price peak during the week of Feb 1 to 7. According to recent data, the freehold development achieved a record-breaking price of $2,384 psf when a two-bedroom unit on the 15th floor was sold for $1.54 million on Feb 3. This marks the first time that a unit at 8M Residences has been sold for more than $2,300 psf.In comparison, the previous peak at the development was set in April 2023 when a similar two-bedroom unit on the 11th floor was sold for $1.46 million at a rate of $2,261 psf.8M Residences also saw another transaction during this period that surpassed the record set in 2023. On Feb 3, a one-bedroom unit on the 11th floor was sold for $1.2 million, marking a new high of $2,275 psf.In terms of absolute price, the most expensive unit sold at 8M Residences is a 1,841 sq ft, three-bedroom unit that fetched $2.85 million ($1,548 psf) in October 2012.Resale data collected by EdgeProp Singapore shows that resale prices at 8M Residences have been consistently rising over the past few years. According to a 12-month rolling average, the average price of units at the condo increased by 7.3% from $2,028 psf in February 2022 to $2,177 in February 2025.8M Residences, completed in 2017, is a 20-storey residential tower that boasts 68 units ranging from one to three bedrooms. It also has four penthouses varying in size from 1,184 to 1,841 sq ft.8M Residences is located close to several prestigious schools such as EtonHouse International Research Pre-School, Katong Swimming Complex and Katong Park MRT Station.Meanwhile, the sale of a 1,076 sq ft, three-bedroom unit at Kovan Jewel, a freehold condo on Kovan Road in District 19, took second place on the list of private condos that achieved a new psf-price high. This unit was sold by the developer for $2.41 million on Feb 7, setting a new high of $2,236 psf. This record surpasses the previous peak set in August 2023 when a similar three-bedroom unit was sold for $2.4 million at a rate of $2,228 psf.Kovan Jewel, completed last year, features 34 units with one to three bedrooms measuring 624 to 1,345 sq ft. There are also four-bedroom penthouses ranging from 1,237 to 2,153 sq ft.As of Feb 18, 17 units (50%) at Kovan Jewel have been sold at an average price of $2,111 psf, based on caveats lodged. Nine units were sold last year at an average price of $2,111 psf. The unit sold on Feb 7 is the first transaction this year.Finally, boutique condo Oleanas Residence takes third place on the list of private condos that achieved a new psf-price peak. On Feb 3, a 1,141 sq ft, three-bedroom unit on the sixth floor sold for $2.52 million, marking a new record of $2,207 psf at the condo.Previously, the highest transacted price at Oleanas Residence was $2,157 psf, from the sale of a 1,238 sq ft, three-bedroom unit for $2.67 million in August 2022. The most expensive resale unit at the condo, however, is a 1,636 sq ft, three-bedroom unit that sold for $3.3 million ($2,017 psf) in December 2022.Oleanas Residence, completed in 1999, is a freehold condo located on Kim Yam Road in District 9. In the last three years, the condo has recorded only four resale transactions, with prices ranging from $2.4 million ($2,103 psf) for a 1,141 sq ft, three-bedroom unit in November 2023 to $3.3 million ($2,129 psf) for a 1,550 sq ft, four-bedroom unit in April 2024.The condo is situated close to two MRT Stations: Great World MRT Station on the Thomson-East Coast Line and Fort Canning MRT Station on the Downtown Line. It is also within the 1km radius of educational institutes such as River Valley Primary School and Outram Secondary School.…

Luxury transactions hit high of $5 mil at Four Seasons ParkCentral Area luxury flat pent-up demand seen to drive recoveryMar 10, 2023, 2:34 PMSingapore condo, HDB resale prices up in February due to La Mariposa & Canberra VistaLuxury developments continue to dominate profitable resale transactions in Feb 2023

Nassim 9, a luxury development, has recorded the most profitable private non-landed resale transaction during the period of February 4 to February 7. A four-bedroom unit spanning 2,486 sq ft located on the third floor changed hands for $7.5 million, or $3,016 psf, on February 7.

According to URA caveats, the unit was previously bought in December 2005 for $4.12 million, translating to a profit of $3.42 million (83.8% of the original purchase price) for the seller. This marks an annualised gain of 3.2% over 19 years.

This transaction is the third-most profitable resale at Nassim 9, with the current record set in March 2023 when a larger four-bedroom unit spanning 2,756 sq ft was sold for $9.5 million ($3,448 psf). The seller made a profit of $5.38 million (130.6%), or an annualised gain of 5% over 17 years.

The last caveated transaction at Nassim 9 was in March 2023, when a 3,251 sq ft, four-bedroom unit was sold for $10.3 million ($3,169 psf). It generated a profit of $3.3 million.

Located along Nassim Road in prime District 10, Nassim 9 is a boutique condo with only eight units completed in 2002. It features four-bedroom units spanning between 2,756 and 3,423 sq ft.

The second most profitable resale during the period was at Mount Faber Lodge, where a triplex penthouse unit was sold for $5 million ($1,350 psf) on February 5. The unit was last bought in August 2001 for $1.6 million, resulting in a profit of $3.4 million (212.5%) for the seller. This makes an annualised gain of 5% over 23½ years.

The unit sold on February 5 is the most profitable unit at Mount Faber Lodge to date, surpassing the previous record set in October 2022 when a three-bedroom unit spanning 2,669 sq ft was sold for $3.89 million ($1,457 psf). The unit was originally purchased for $1.3 million ($487 psf) in January 2006, resulting in a profit of $2.59 million (199.2%) for the seller.

Completed in 1983, Mount Faber Lodge is a boutique freehold development situated along Mount Faber Road in District 4. It offers studio units spanning 1,098 sq ft, along with two- and three-bedroom units from 1,173 to 2,454 sq ft. The development also features 20 five-bedroom triplex penthouses ranging from 3,703 to 3,724 sq ft.

The third-most profitable deal during the period was the sale of a three-bedroom unit at Amaryllis Ville, a 99-year leasehold condo in prime District 11. The 1,238 sq ft unit on the 28th floor was sold for $2.65 million ($2,141 psf) on February 5. It was previously bought for $1.09 million ($884 psf) in June 2005, resulting in a profit of $1.56 million (142.2%) for the seller. This marks an annualised gain of 4.6% over 19½ years.

This transaction is the third-most profitable unit to be sold at Amaryllis Ville, with the current record set in September 2023 when a three-bedroom unit spanning 1,991 sq ft was sold for $3.75 million ($1,885 psf). The unit was originally purchased for $1.95 million ($979 psf) in June 2009, resulting in a profit of $1.8 million (92.5%) for the seller. This marks an annualised gain of 4.7% over 14 years.

Based on resale data tabulated by EdgeProp Singapore, resale prices at Amaryllis Ville have been steadily increasing in recent years. The average price hit $1,897 psf in February 2023 before rising to $2,001 psf in February 2024. Last month, the average price reached $2,082 psf, marking a 4% year-on-year increase.

When it comes to investing in real estate, one factor that cannot be overlooked is the location. This is especially true for those looking to invest in Singapore. In this country, condos that are situated in central areas or in close proximity to essential amenities such as schools, shopping malls, and public transportation hubs are known to appreciate in value. Some prime locations that have consistently shown growth in property values include Orchard Road, Marina Bay, and the Central Business District (CBD). Families with children also value condos in these areas because of their proximity to good schools and educational institutions, making them highly desirable investments. With all these factors in mind, it is important for investors to carefully consider the location when looking for a condo to invest in.

Completed in 2004, the 311-unit Amaryllis Ville is located along Newton Road and offers a mix of one- and two-bedroom units measuring between 657 and 1,378 sq ft, as well as three-bedroom units ranging from 958 to 2,637 sq ft. Nearby condos include the 129-unit Rochelle at Newton along Keng Lee Road and the 378-unit Kopar at Newton along Makeway Avenue.

During the period, there were no unprofitable transactions.…

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When it comes to making strategic investments in real estate, location is key, especially in a bustling city like Singapore. The placement of condos plays a crucial role in their value, with factors such as being situated in central areas or near essential conveniences like schools, shopping centers, and public transportation hubs contributing significantly to their appreciation. This is evident in prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD) where property values have consistently shown growth. These areas are highly desirable for families due to their proximity to reputable schools and educational institutions, making them ideal for investment opportunities. Therefore, for those considering investing in condos, it is crucial to prioritize location, and prime areas like Orchard Road, Marina Bay, and the CBD, should definitely be at the top of the list. Additionally, do not forget to check out Condo for more information on this topic.

Heeton Holdings, a property developer, has announced a 221% increase in earnings for the second half of FY2024. This was reported for the period ended December 31, 2024, with a total of $3.85 million in earnings. Despite this significant growth, the group has still reported a loss for the entire FY2024.On a per share basis, Heeton’s earnings for the second half of FY2024 was 0.79 cents per ordinary share. However, for the full year, the earnings per share were a negative 0.28 cents per share. This indicates a steady growth in earnings for the latter half of FY2024.For the 2HFY2024, Heeton’s revenue increased by 10.5% year-on-year to $41.1 million. This was driven by rental income from investment properties, hotel operation income, and management fee. For the entire FY2024, revenue grew by 15.2% to $78.2 million.Heeton attributes the growth in turnover to higher occupancies in the United Kingdom and an increase in rental rates for the group’s investment properties. During the period, the group also disposed of some of its subsidiaries, resulting in a net gain of $3.78 million. Property, plant, and equipment also saw an increase of $16.92 million due to the acquisition of a hotel in Edinburgh, UK.Heeton’s cash flow saw a decrease in cash and cash equivalents of $32.70 million due to significant inflows and outflows. This includes proceeds from property disposals of $26.43 million and proceeds from subsidiary disposals of $11.37 million. On the outflow side, the group had a net repayment of loans from associated and joint venture companies of $24.45 million, additions to property, plant, and equipment of $40.36 million, and restricted cash pledge for a bank facility of $22.98 million.Moving forward, Heeton will maintain a prudent and steady strategic expansion in light of the uncertain economic outlook in Singapore and the uncertain geopolitical paradigm under Trump’s administration. As the hospitality industry continues to face several challenges, Heeton will focus on being a bespoke boutique brand that offers high-quality, experiential stays for its guests.Heeton is also actively participating in land tenders in the local residential market, often as part of a consortium. Additionally, the group’s two retail malls are expected to continue generating steady and recurring income for its property investment business. In line with this, the group has declared a final dividend of 0.5 cents per share for the current financial period.Shares in Heeton closed 0.5 cents lower or 1.818% down at 27 cents on Feb 20.…

Singaporean property developer and businessman Que Neo, known for his boutique developments, aims to create residential projects that cater to his personal preferences. His latest project, K Suites, located in the prime East Coast area of District 15, is set to be completed in the first quarter of 2025.

K Suites is highly sought after due to its convenient location, providing easy access to the beach, East Coast Park, shopping malls, the central business district (CBD), and Changi Airport. According to Neo, it takes only 10 minutes to reach the airport and downtown via the East Coast Parkway and Pan-Island Expressway.

Additionally, K Suites is situated near public transportation, including a bus stop just 50 meters away. The nearest MRT stations, Marine Parade on the Thomson-East Coast Line (TEL) and Eunos on the East-West Line (EWL), are only two bus stops away.

The cityscape of Singapore is characterized by towering skyscrapers and state-of-the-art infrastructure. Condominiums, strategically located in desirable locations, offer a fusion of opulence and convenience that caters to the preferences of both locals and foreigners. These residences are equipped with an array of facilities including swimming pools, fitness centers, and round-the-clock security, elevating the overall living experience and making them an attractive option for potential tenants and buyers. For investors, these desirable features equate to higher rental returns and appreciating property values over time. Singapore Projects offer a diverse selection of these coveted condos for those looking to invest in the thriving real estate market of Singapore.

The close proximity to public transport also allows for easy access to popular schools, with PCF Sparkletots @ Joo Chiat located just two doors away. Families with young children can also choose from popular primary schools like Tao Nan School, Haig Girls’ School, and CHIJ (Katong) Primary, all situated within 1km of Telok Kurau. Prestigious secondary schools such as Dunman High School, Tanjong Katong Secondary School, and Tanjong Katong Girls’ School are also in the vicinity.

K Suites is designed by JGP Architecture, with a sleek and contemporary aesthetic facade thanks to its curtain wall system. This design also allows for ample natural light and unblocked views of the surrounding neighborhood. The apartments feature regular layouts with 3.5m to 4.5m ceiling heights, while the duplex penthouses boast a 7m ceiling height. German brand fittings, top-end Miele kitchen appliances, Duravit sanitaryware, and Grohe bathroom fittings are used throughout the units.

The project also offers a wide range of facilities for residents to enjoy, including a swimming pool, Jacuzzi, barbeque pit, lounge area, gym, outdoor fitness area, and playground. The development also features a grand arrival and drop-off area, and a surface car park with 16 parking spaces and two electric vehicle charging stations.

The first phase of ten units of K Suites, a freehold development, was sold out since its preview in September 2022, with most of the buyers being Singaporeans, mainly professionals such as doctors, lawyers, and corporate executives.

The remaining units, including four three-bedroom units ranging from 797 to 872 sq ft and 11 four-bedroom units ranging from 1,076 to 1,130 sq ft, are now available for purchase. The project also offers five-bedroom penthouses ranging from 1,625 to 1,679 sq ft, of which one is still available for sale. These units have been popular with large families, with one unit purchased by a family with four children.

K Suites is highly sought after by upgraders and those looking for a freehold property in the prime District 15 area. Another selling point is its ground-level units, which offer a 4.5m ceiling height and overlook the landscaped garden and facilities.

The latest transaction for a three-bedroom unit on the fourth floor of the five-story block was sold for $2.13 million ($2,443 psf) in November. According to Neo, K Suites is the most affordable new freehold project in District 15.

Huttons Data Analytics found that prices of selected boutique developments in District 15 have appreciated over 100% since their launch, with units at Malvern Springs selling at prices 234.2% higher since its launch in January 2002. Over the past five years, monthly median rents at some boutique condos in Telok Kurau and Joo Chiat have risen by 76.5%, making it a favorable area for investors.

Apart from its prime location, District 15 is popular with expatriate tenants due to its lifestyle offerings, including proximity to the beach, East Coast Park, and a wide array of F&B options and shopping malls. With the completion of K Suites and the growing positive market sentiment, the remaining units are expected to be snapped up quickly.…

: URA Keywords Savills Singapore, private residential market, rental market, rental demand, rental prices, rental transactions, leasing marketSavills Singapore expects flat rental growth for private residential market this yearAlthough private housing rents recorded a modest rebound in 4Q2024, inching up 0.2% q-o-q in the last three months last year, landlords should expect rental growth to be flat this year, according to a market report by Savills Singapore.The relatively poor performance of the non-landed private residential market in the first three quarters of 2024 largely contributed to rents falling by 1.7% over the whole of 2024. This represents the first full-year decline since the leasing market recorded a 0.5% y-o-y drop in 2020.There were 19,733 leasing transactions in 4Q2024, which marked a quarterly decline of 24.2%. According to Savills, this is likely due to a decrease in net new rental demand as the number of employment pass (EP) and S pass holders fell last year, in combination with a year-end seasonal lull in rental activity.It noted that the bulk of the decline in leasing activity last quarter stemmed from a 30.8% q-o-q drop in rental contracts for landed homes islandwide. Leasing volumes for apartments and condos also saw a 23.7% q-o-q decrease over the same period. However, despite the decrease in leasing activity, Savills added that there is still some growth in rental demand as rents in the private residential market have stabilised.However, landlords should expect flat rental growth this year, with relatively more affordable rents found in suburban areas, which enable tenants to prioritize lifestyle options such as more spacious units, connectivity to MRT stations, malls, and recreational activities. In 4Q2024, Parc Esta emerged as the development with the most number of condo leasing deals, recording 163 rental transactions at a median rent of $6.84 psf per month.Other developments that saw a high number of rental transactions include Marina One Residences (126 transactions at $6.62 psf pm), The Sail @ Marina Bay (126 transactions at $6.72 psf pm), Normanton Park (120 transactions at $6.26 psf pm), and D’Leedon (107 transactions at $5.43 psf pm).In terms of rental price growth, the Outside Central Region (OCR) saw average rents decline by 0.8% q-o-q in 4Q2024. Meanwhile, rents in the Core Central Region (CCR) and Rest of Central Region (RCR) grew by 0.9% q-o-q and 0.3% q-o-q, respectively, reflecting the trend of tenants in suburban locations shifting to more central neighborhoods, driven by relatively more reasonable rents.Savills also observed a slight rebound in the luxury rental market, with the average monthly rent of high-end condos increasing by 1.7% q-o-q in 4Q2024 to $5.85 psf pm. The luxury rental market had previously seen consistent declines in the preceding five quarters.However, looking ahead, landlords will likely face headwinds in the rental market as companies continue to reduce headcounts and hire fewer expatriates, says Alan Cheong, executive director of research and consultancy at Savills Singapore. He adds that landlords also face higher property taxes for non-owner-occupied residential properties, as well as increased conservancy charges due to upward inflationary pressures.Despite the challenges, the relatively tight supply of large luxury properties on the rental market may help landlords resist underpriced rental offers, according to Cheong. Additionally, he expects that interest rates will likely take longer to fall and result in mortgage payments to remain at current levels for longer.The saving grace for the rental market in 2025, according to Cheong, is the fewer new completions of private homes expected. Higher property taxes on investment properties will also turn landlords off from accepting low ball rental rates. Furthermore, he anticipates that the pool of expat tenants may reduce as a result of the widespread adoption of AI reducing overall manpower requirements for some high-tech firms and companies continuing to reduce hiring of white-collar professionals.

Selecting an ideal location for real estate investment is crucial, and this holds particularly true for properties in Singapore. Condos positioned in central areas or in close proximity to important amenities such as schools, shopping centers, and public transportation hubs have a higher potential for appreciation in value. Prime locations like Orchard Road, Marina Bay, and the Central Business District (CBD) are prime examples of areas where property values have consistently shown growth. Additionally, the presence of reputable schools and educational institutions in these areas makes investing in condos a highly desirable option for families, further solidifying their investment potential. With the right location, a condo can be a wise and profitable investment in Singapore’s real estate market.…