Author: sovietarmy

Condo projects with most expensive average PSFMost unprofitable condo transactions in past 1 yearPast Condo sale transactionsUpcoming new launch projectsCondo projects with most unprofitable transactionsCondo projects with most expensive average PSFMost unprofitable condo transactions in past 1 yearPast Condo sale transactionsUpcoming new launch projects

Investing in a condo in Singapore has numerous advantages, including the potential for capital appreciation. The country’s strategic location as a global business hub and its strong economic foundations make it a highly desirable location for real estate investment. As a result, the demand for properties in Singapore remains consistently high, leading to a steady increase in property prices. This is particularly evident in prime locations where condos have seen significant appreciation in value. By timing their entry into the market well and holding onto their property for a longer period, investors can expect to earn considerable profits. Furthermore, with the continuous introduction of new condo …

The government land sales (GLS) tender for a mixed-use site at Tampines Street 94 has attracted significant interest, with six bids received before the bidding closed on September 19. The highest bid of $668.28 million, or $1,004 per square foot per plot ratio (psf ppr), was submitted by a joint venture between Hoi Hup Realty and Sunway Developments.

Spanning 252,989 square feet with a maximum gross floor area of 665,366 square feet, the 99-year leasehold site has the potential to yield about 585 residential units, according to Urban Redevelopment Authority (URA). The top bid of $1,004 psf ppr is only 1.9% higher than the second highest bid of $985 psf ppr submitted by Sing Holdings Residential, indicating the close competition among bidders.

Justin Quek, CEO of OrangeTee & Tie, notes that this is the highest number of bids received for a non-EC site since November 2023, when a residential development …

REAL ESTATE DEVELOPERS’ ASSOCIATION OF SINGAPOREBUILDING WORKS APPROVALS Comments

The Land Transport Authority (LTA) has announced that it is currently developing an AI chatbot to assist developers and contractors in complying with regulatory requirements. This was revealed by Minister of Transport Chee Hong Tat at the mid-autumn lunch organized by the Real Estate Developers’ Association of Singapore (REDAS) on September 17, where he was the guest of honor. This initiative is part of the government’s ongoing review of existing regulations and efforts to streamline procedures for approvals for road and building works. OKP Holdings secures new contract from LTA worth $92.9 mil, orderbook hits record of $735.2 millionChee mentioned that the AI chatbot is aimed at helping developers and contractors quickly verify the LTA regulations that will apply to their development proposals, eliminating the need to manually search for information online. He also noted that the chatbot would be able …

A freehold two-storey shophouse at 221 Rangoon Road is currently available for sale through an expression of interest (EOI) exercise. With a land area of approximately 2,145 sq ft and a total built-up area of about 3,347 sq ft, the property is zoned for residential use under the 2019 Master Plan with a gross plot ratio of 3.0. It is being offered at a guide price of $8.88 million, which equates to $2,653 psf on the built-up area.

This shophouse features a ground floor that is approved for F&B use and is presently tenanted to a restaurant, while the upper floor is occupied by residential tenants. According to Sammi Lim, founder and executive director of Brilliance Capital, the sole marketing agent for the property, this provides potential buyers with an immediate rental income. Lim also expects strong interest from co-living operators, boutique developers, and family offices seeking a freehold asset.…

During the week of Sept 3 to Sept 10, a resale transaction at Botanic Gardens View set a new record for the most profitable condo sale. The three-bedroom unit on the sixth floor, measuring 1,755 square feet, was sold for $4.13 million at a rate of $2,353 per square foot on Sept 9. The seller had previously bought the unit back in July 1998 for approximately $862,000, at a rate of $491 per square foot. The impressive transaction resulted in a gain of $3.27 million for the seller, which equates to a whopping 379% increase in capital gain over the 26 years of ownership.

This sale now stands as the most profitable resale deal recorded in the history of Botanic Gardens View. The previous highest gain was $3.14 million, achieved in August 2019 when a 1,615 square feet unit was sold for $4.07 million (equating to a rate of $2,521 …

Most expensive four-room HDB in Singapore sold for $1.128M, a new high

A four-room HDB flat at 590B Ang Mo Kio Street 51 was recently sold for a record-breaking $1.08 million, making it the highest transacted price for a four-room flat in the Ang Mo Kio Planning Area. The 1,001-sq ft flat, located on the 28th to 30th storey and completed in 2019, was sold for $1,079 psf. Using our analytics tool, ‘Is it a Good Deal?’, we analyzed whether the buyer secured a good deal.

This HDB flat is located in a well-connected and convenient location, with amenities such as Ang Mo Kio MRT Station, Jing Shan Primary School, Anderson Secondary School, AMK Hub, Cheng San Market and Cooked Food Centre, Chong Boon Market and Food Centre, and Ang Mo Kio Town Garden East within a 500m radius (see Map 1). Our analytics tool highlighted that this flat has …