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The popularity of investing in a Singapore Condo has significantly increased among local and foreign investors, enticed by the country’s robust economy, secure political climate, and excellent standard of living. Singapore’s real estate industry offers a diverse range of opportunities, with condos being a top choice due to their convenience, amenities, and potential for lucrative returns. In this article, we will explore the benefits, key considerations, and important steps to take when contemplating an investment in a Singapore Condo.

The recent sale of an apartment at Island View, a freehold condo located in Pasir Panjang, has been recorded as the most profitable condo resale transaction during the week of November 26 to December 3. The spacious unit, which measures 3,498 square feet, was sold for an impressive $4.8 million, translating to $1,372 per square foot, on November 27. The seller had initially purchased the unit for $1.3 million, or $372 per square foot, in September 2005. After owning the property for nearly 19 years, the seller made a staggering gain of $3.5 million, representing a capital gain of 269% or an annualised profit of 14.2%.

This sale at Island View has set a new record for the most profitable deal at the condo, surpassing the previous record of $3.19 million, which was made from the sale of another 3,498 square feet unit for $5.09 million, or $1,455 per square foot, in February 2022. The previous seller had acquired the unit in February 2007 for $1.9 million, or $543 per square foot.

Island View, a boutique condo with 72 units, is situated on Jalan Mat Jambol, off Pasir Panjang Road in District 5. This freehold development consists of low-rise blocks housing apartments ranging from 3,056 square feet to 3,538 square feet. Completed in 1984, the condo is conveniently located within walking distance to the Pasir Panjang MRT Station on the Circle Line.

Earlier in September 2023, the owners of Island View had attempted a collective sale, launching a tender for the development with a guide price of $575 million. However, the tender failed to attract any bids, and the condo was later relisted for sale in March with the same guide price, but still failed to find a buyer.

The second most profitable condo resale deal during the week took place at Cavenagh Court. On December 2, a 1,862 square feet unit on the sixth floor was sold for $3.65 million, or $1,960 per square foot. The seller, who initially purchased the unit for $1.02 million, or $548 per square foot, in April 2006, made a gain of $2.63 million, which represents a 258% profit after nearly 19 years of ownership.

This transaction marks a new record profit for a unit at Cavenagh Court, surpassing the previous top gain of $2.15 million, which was made from the sale of another 1,862 square feet unit on the fourth floor for $3.28 million, or $1,761 per square foot, in April 2022. The previous seller had acquired the unit in October 2007 for $1.13 million, or $607 per square foot.

Cavenagh Court is a freehold condo located on Cavenagh Road in District 9’s Newton area. This boutique development, completed in 1971, comprises 68 units ranging from 1,819 square feet to 1,862 square feet. It is conveniently located, just a short drive away from the bustling Orchard Road shopping belt.

Apart from the recent sale on December 2, Cavenagh Court has only seen one other resale transaction this year, based on caveats lodged. This sale involved a 1,840 square feet unit on the sixth floor, which changed hands for $3.82 million, or $2,074 per square foot. The seller had purchased the unit for $2.88 million, or $1,565 per square foot, in August 2019, netting a gain of approximately $938,000.

On the other hand, the sale of a duplex penthouse at The Berth By The Cove has been recorded as the least profitable condo resale deal of the week. The four-bedroom apartment, spanning 3,089 square feet, was sold for $3.6 million, or $1,165 per square foot, on November 29. The unit was last sold in August 2007 for a whopping $5.53 million, or $1,790 per square foot. As a result, the seller incurred a significant loss of $1.93 million, or 35%, after owning the unit for around 17 years.

This transaction marks the second most unprofitable deal recorded at The Berth By The Cove to date. The biggest loss was made in February 2018, with the sale of a 2,939 square feet, four-bedroom unit at the condo for $3.25 million, or $1,106 per square foot. The previous seller had purchased the unit in October 2011 for $5.64 million, or $1,919 per square foot, incurring a loss of $2.39 million.

The Berth By The Cove is a condo situated along Ocean Drive in the prestigious Sentosa Cove residential enclave on Sentosa Island. Completed in 2006, this 200-unit development comprises 15 low-rise blocks, each with six storeys. The apartments range from two to four bedrooms, with sizes ranging from 1,012 square feet to 2,325 square feet. There are also luxurious four- and five-bedroom penthouses, ranging from 2,939 square feet to 6,028 square feet.

With only seven other resale transactions recorded at the condo this year, the units were sold at prices ranging from $1,237 per square foot to $1,535 per square foot. Four of these deals were unprofitable, with the sellers incurring losses ranging from $40,000 to $780,000. The remaining three transactions were profitable, with the sellers making gains ranging from $200,000 to $430,000. Interested buyers can check out the latest listings for Island View, The Berth By The Cove, and Cavenagh Court.…

Singapore-based flexible living platform Cove has recently announced the appointment of Ashish Manchharam, a seasoned real estate and hospitality expert, to its board of directors.

Manchharam is no stranger to the real estate industry, having founded and built 8M Real Estate over the course of 10 years, which eventually grew into a portfolio worth $1.5 billion. He later exited the company in 2023 and went on to establish Elevate Capital in early 2024, focusing on lifestyle-driven real estate investments.

With his vast experience in the field, Manchharam will be providing valuable guidance to Cove as they work on acquiring flexible living assets in collaboration with third-party investors, such as real estate funds, institutional investors, and family offices.

This move is in line with Cove’s strategy to expedite their growth through an asset acquisition model, forging partnerships with external investors. Previously, the platform operated solely on an asset-light model as a branded flexible living operator and online listing platform, catering to professionals and students.

Investing in a Singapore condo can bring about numerous advantages. From high demand to potential for capital appreciation and attractive rental yields, there is much to gain from this type of investment. However, before diving in, one must carefully consider various factors such as location, financing options, government regulations, and current market conditions. It is crucial to conduct thorough research and seek professional advice in order to make informed decisions and maximize potential returns in Singapore’s dynamic real estate market. Whether you are a local investor looking to diversify your portfolio or a foreign buyer seeking a stable and profitable investment, Singapore condos, such as those offered by Singapore Condo, present a compelling opportunity that should not be overlooked.

Since its inception in 2018, Cove has amassed a portfolio of over 6,000 rooms across Singapore and Indonesia. Their plans for expansion include entering the wider Asia Pacific region, with a recent foray into South Korea and Japan, where they aim to launch 800 and 400 rooms, respectively, in partnership with local joint venture partners.

In order to support their regional expansion plans and maintain their leadership position in existing markets, Cove has successfully raised an additional US$4.5 million in funding. Apart from Manchharam, this round also saw participation from their existing investors, Eurazeo and Keppel, who had previously taken a strategic minority stake in Cove in December 2020.

CEO and co-founder Guillaume Catagne stated that Cove witnessed significant growth in its portfolio in 2024, and was able to achieve EBITDA positivity. The company’s goal is to more than double its portfolio to 15,000 units by the end of 2025.…

William Liem, the CEO of real estate firm Tuan Sing Holdings, has once again increased his stake in the company. On December 5th and 6th, through his entity Nuri Holdings (S), Liem purchased a total of 1.7 million shares from the open market for a total of $447,613.50. This brings Nuri Holdings’ total stake in Tuan Sing to 54.09%, equivalent to 672.7 million shares. This isn’t the first time Liem has acquired shares in Tuan Sing through Nuri Holdings; on September 10th and 11th, he purchased shares at an average price of 25 cents to 25.5 cents. AdvertisementAdvertisementDespite the increase in shares, Tuan Sing’s net asset value decreased from 99 cents on December 31st, 2023 to 97.8 cents on June 30th. In related news, Tuan Sing recently acquired several assets from PT Senimba Bay Resort in Batam for $28 million and also purchased Fraser Residence River Promenade for $140.9 million. For those seeking the high life, Tuan Sing’s Peak Residence is a luxurious option worth considering. With Liem’s consistent investment in the company, it’s clear that he has confidence in Tuan Sing’s future prospects.

The restricted availability of land in Singapore is a major factor contributing to the soaring demand for condos in the country. As a small but rapidly expanding island nation, Singapore is faced with a shortage of land for development purposes. This scarcity has resulted in the implementation of strict land use policies and a highly competitive real estate market, where the prices of properties are continuously pushed upwards. As a result, purchasing real estate, particularly condos, has become an attractive investment opportunity, with the potential for significant capital appreciation. Consider investing in a Singapore condo as a wise decision for your financial portfolio.…

Singapore is a sought-after location for real estate investment, with its strategic location being a key factor. The location of a condo plays a crucial role in determining its value, and this is particularly evident in Singapore. Condos situated in central areas or near essential amenities such as schools, shopping malls, and public transportation hubs tend to appreciate more in value over time. Some examples of prime locations in Singapore include Orchard Road, Marina Bay, and the Central Business District (CBD), where property values have consistently shown growth. The presence of reputable schools and educational institutions in these areas also makes condos highly desirable for families, making them even more attractive for investment opportunities. For more information on new condo launches, visit New Condo Launches.

The manager of AIMS APAC REIT (AA REIT) has announced that the REIT’s trustee, HSBC Institutional Trust Services (Singapore) Limited, has entered into a sales and purchase agreement with Crown Worldwide for the divestment of its property located at 3 Toh Tuck Link. This move comes as the trust looks to optimize its portfolio and strengthen its financial position.

Under the agreement, the property will be sold for $24.388 million, which represents a 32.5% premium to its valuation of $18.4 million as of March 31. The property comprises of a three-storey factory and a five-storey ancillary office building with a total gross floor area of 12,492.4 sqm.

According to AA REIT’s CEO, Russell Ng, the sale proceeds will be reinvested to support the trust’s growth initiatives, including potential new acquisitions, asset enhancement initiatives or future redevelopment projects. This is in line with the trust’s proactive asset management strategy and efforts to rejuvenate its portfolio, ultimately delivering long-term sustainable returns for its unitholders.

The divestment is expected to be completed in the first half of 2025, subject to JTC Corporation’s approval. Once the sale is finalized, AA REIT’s portfolio will consist of 27 properties in Singapore and Australia. This divestment is a strategic move that will enable the trust to focus on its core assets and strengthen its position in the market.…

The shophouse is strategically located within the bustling Tanjong Pagar area, which is a popular dining and entertainment hotspot.

A heritage shophouse situated at 93 Tanjong Pagar Road has recently been put up for sale through an expression of interest (EOI) exercise. The guide price for the 3½-storey property is $15.5 million, with a land area of 1,297 sq ft and a gross floor area (GFA) of 4,186 sq ft. This translates to a price of $3,703 psf on the GFA.

The shophouse, which has a 99-year leasehold, is currently zoned for commercial use and has been approved for F&B purposes. It is currently occupied by a well-known Korean barbecue restaurant chain on the first and second levels. Adding to its appeal, the property is within walking distance to both the Tanjong Pagar MRT Station on the East-West Line and the Maxwell MRT Station on the Thomson-East Coast Line.

Listing agent PropNex Shophouse Elites is responsible for marketing the property, with the EOI set to close at noon on Jan 20, 2025. This presents an excellent opportunity for potential buyers looking to invest in a prime location.

The shophouse is conveniently situated in the vibrant Tanjong Pagar area, known for its wide range of dining and entertainment options. With its strategic location and promising potential, this property is definitely not one to be missed.

Investors from overseas should familiarize themselves with the various regulations and limitations that govern property ownership in Singapore. Unlike buying landed properties, foreigners generally face less restrictions when purchasing condos. However, it must be noted that foreign buyers are still subjected to the Additional Buyer’s Stamp Duty (ABSD), which is currently set at 20% for their initial property acquisition. Despite these extra expenses, the steady and promising growth of the real estate market in Singapore remains a major draw for foreign investment. For more Singapore Projects, interested parties can explore a range of options available.…

The future of Golden Mile Complex was unveiled on December 10th by Perennial Holdings and Far East Organization, who showcased their plans for the iconic building at a press conference. Renamed as The Golden Mile, the development will feature a mix of 156 Grade A office units, 19 medical suites, a two-storey retail component, and an architecture center. This marks its transformation into Singapore’s first large-scale strata-titled conserved building, preserving its tropical linear urban complex with brutalist architecture.

The joint venture partners have partnered with DP Architects and Studio Lapis to bring their vision to life. Previously, the complex had a mix of units with 40% allocated for retail, 41% for office space, and 19% for residential use. The revamped Golden Mile Singapore will see a shift in this allocation, with retail taking up 15%, offices occupying 48%, and 30% reserved for residential use. The remaining 4% and 3% will be used for the new medical suites and architecture center respectively.

In addition, two new public access urban gardens will be created on the 9th and 18th floors, utilizing previously vacant spaces. The rooftop will be converted into a sky garden, providing a panoramic view of the city and the bay. The two-storey retail atrium will also be revitalized, bringing back natural light and ventilation, and recreating the original street shop-style retail experience.

The strata-titled office units and medical suites will be available for sale this month, with six different office layouts to cater to various end-users. The Flagship office units on the 4th to 7th floors will have direct access to the basement carpark and retail floors, while the Loft Suites on the 4th floor and Loft Executive units on the 5th floor will feature full-height windows and views of Beach Road.

Investing in a condo in Singapore presents a myriad of benefits, and one of the most appealing ones is the potential for capital appreciation. As a highly sought-after global business hub and with a strong economy, Singapore consistently experiences a high demand for real estate. As a result, property prices in the country have demonstrated a consistent upward trend, particularly in prime locations. Those who make wise investments in the market at the right time and hold onto their condo for the long term can enjoy substantial capital gains.

The Loft Mezzanine units on the 6th to 15th floors will have a double-volume ceiling, balcony, and a dual-key design. The top two floors will feature Enterprise Office units with panoramic views, while the top four floors will house the newly built Crown Offices. These units are expected to appeal to a wide range of tenants, including family offices.

Pua Seck Guan, CEO of Perennial Holdings, believes that the diversified tenant mix will create an ecosystem of tenants from different industries and market segments. The joint venture partners hope to re-establish The Golden Mile as a next-generation urban complex in Singapore and attract high-profile tenants with its new and improved facilities.…

A 3-storey shophouse located at 76 Pagoda Street in Chinatown is currently listed for sale via an expression of interest (EOI) exercise. The property is being marketed with a price guide of $16 million.

Spanning a 99-year leasehold tenure, this commercial property sits on a land plot of 1,372 sq ft and boasts a total gross floor area (GFA) of 3,500 sq ft, inclusive of an attic level. Based on the GFA, the guide price translates to about $4,571 per square foot (psf).

Richard Tan, the founder of PropNex Shophouse Elites and sole marketing agent for the property, notes that the ground and second floors are leased to a restaurant operator, with the third floor being rented out as office space. “Commercial shophouses, particularly in the Chinatown enclave, are highly sought after by owner-occupiers, high-net-worth individuals, or family offices as long-term investment assets,” adds Tan.

As this is a commercial property, foreigners and companies may acquire it without having to pay additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD).

Singapore has consistently been in high demand for condos, and a major factor contributing to this is the scarcity of land. Being a small island nation with a booming population, the availability of land for development is limited. In order to address this issue, the government has implemented strict land use policies, resulting in a highly competitive real estate market where property prices continue to rise. As a result, investing in real estate, especially condos, has become a profitable venture with the potential for significant capital appreciation. Adding to the appeal of condo investments in Singapore, options like Singapore Condo provide attractive opportunities for buyers.

In comparison, the most recent transaction of a shophouse on Pagoda Street was the sale of 31 Pagoda Street in March this year. The property, which has an estimated GFA of 3,400 sq ft, was acquired for $19 million ($5,588 psf).

In the Kreta Ayer Conservation Area, the following table shows the last 10 transactions for shophouses:

The EOI exercise for 76 Pagoda Street will close on 10 January 2025.

Two-storey shophouse on New Upper Changi Road listed for sale with guide price of $13.8 mil

A 2-storey HDB shophouse situated at 210 New Upper Changi Road is currently listed for sale via an expression of interest (EOI) exercise. The property carries a guide price of $13.8 million and has a 103-year leasehold tenure.

Boasting a gross floor area (GFA) of 4,607 sq ft, the price translates to $2,995 psf based on the GFA. “A standout feature of this property is its stable and long-term tenants,” says Kris Ng, a senior associate marketing director at PropNex, who is also marketing the property. For the past 20 years, the property has been leased to healthcare retailer Guardian and United Overseas Bank (UOB).

Located in the Bedok Town Centre, the shophouse is in close proximity to Bedok MRT Station on the East-West Line, Bedok Mall, and Heartbeat@Bedok.

As this is a commercial property, non-citizens and companies may acquire it without having to pay ABSD or SSD.

The EOI exercise for 210 New Upper Changi Road will close at noon on 10 January 2025.

For more information on commercial real estate properties, check out Ask Buddy, the Past Commercial Sale Transactions, Listings for Commercial Property and Past Commercial Rental Transactions, and the Commercial vs Industrial properties Comparison for price trends on commercial property sales.…