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The Urban Redevelopment Authority (URA) declared on September 13 that the 6.5 hectare master developer site at Jurong Lake District (JLD) has not been awarded. The site was put up for sale on June 22, 2023, with the aim of being “the starting point for the next phase of development in JLD”.

The tender for the JLD site closed on March 26, 2024, with only one bid received from a consortium of five developers, including CapitaLand Group, City Developments Ltd (CDL), Frasers Property, Mitsubishi Estate Co. and Mitsui Fudosan Co. Ltd. The consortium offered two concept proposals for the site, with each developer taking a different stake in the project. However, URA has decided not to award the tender as the proposed price of $6,888.90 per square meter of gross floor area (GFA) was deemed too low.

The JLD master developer site will now be placed on the Reserve List …

Mr Chua, a Hong Kong-based investor, and his family were among the first 25 buyers at Draycott Eight, a luxury condominium with 136 units in Singapore. The condo was launched in late 2005 and the Chua family purchased a four-bedroom unit on the 14th floor in June 2006. The unit, which spans 2,896 sq ft, was purchased for $5.1 million ($1,762 psf). One of the main reasons for the purchase was the prime location of Draycott Eight, which is situated at Draycott Park, just off Scotts Road and Orchard Road. Additionally, the Chua family was also drawn to the fact that close family members had purchased units in the same area. They were happy with their purchase and later decided to buy an adjoining four-bedroom unit in the same condo. This second unit, which is slightly smaller at 2,863 sq ft, was purchased for $5.65 million ($1,973 psf) in November …

Singapore’s condo investment scene is greatly affected by the government’s efforts to maintain a stable real estate market. In order to prevent speculative buying, the government has implemented several cooling measures over the years. These measures include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those looking to purchase multiple properties. While these measures may have immediate effects on the profitability of condo investments, they ultimately contribute to the long-term stability of the market, making Singapore a secure environment for condo investment. Condo investors should take these measures into consideration when deciding on their investments.

The Urban Redevelopment Authority (URA) has released the tender for the Government Land Sale (GLS) site at Faber Walk in Clementi on September 12. The site is included in the 2H2024 GLS Confirmed List programme, and it is the final parcel of land available for sale in the private …

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One of the key factors to consider when investing in condos in Singapore is the impact of the government’s property cooling measures. Over time, the Singaporean government has implemented various measures to control speculative buying and maintain a steady real estate market. These measures include the implementation of Additional Buyer’s Stamp Duty (ABSD), which entails higher taxes for foreign buyers and those purchasing multiple properties. While these measures may initially affect the short-term profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a more secure investment environment. Additionally, interested buyers can explore a variety of Singapore Projects to find the perfect condo investment opportunity.

Seibu Prince Hotels & Resorts, a subsidiary of Tokyo-listed Seibu Holdings, has made their brand debut in Southeast Asia with the launch of Park Regis by Prince Singapore on September 3.

Located in the Clarke Quay area along Merchant …

During the week of August 27 to September 3, The Draycott had the most profitable condo resale transaction with a unit selling for $5.45 million, at a rate of $2,067 per square foot. The unit, located on the 15th floor and measuring 2,637 square feet, was sold on August 30. The seller had bought it in April 1996 for $3 million, or $1,138 per square foot. This resulted in a gain of $2.45 million for the seller, reflecting a capital gain of 82% as they had owned the unit for almost 28½ years.

This transaction is tied with another unit for the fourth-highest gain ever recorded at The Draycott. This 2,626 square foot, maisonette unit was sold in May 2021 for $4.5 million, or $1,713 per square foot, earning a profit of $2.45 million for the seller. The unit was initially purchased in June 1999 for $2.05 million, or $781 …

The Tuas South industrial hub has recently seen a surge in demand, and this has led to a portfolio of three industrial properties in the area being put on the market for a total of $36 million. The exclusive marketing agent for the properties, JLL Singapore, has announced on Sept 11 that they can be purchased together or separately at a guide price of $12 million each. The properties, which are approved for Business 2 use and have a plot ratio of 1.0 according to the URA’s Master Plan 2019, are currently used for warehousing and storing construction cranes and freight transportation services. All three properties feature high-ceiling structures with overhead cranes and ample open land for heavy vehicle circulation. The locations of the properties are 9 Tuas South Street 9, 10 Tuas South Street 10, and 11 Tuas South Street 9.

The 9 Tuas South Street 9 property covers …

Accor, a well-known global hospitality brand, has recently declared the launch of their new property, Novotel Nara, located in Nara, Japan. Boasting a total of 264 rooms, the hotel is conveniently situated only an eight-minute walk from Shin-Omiya Station and a five-minute cab ride from Nara Station. Guests will find themselves in close proximity to the Todai-ji Temple and Kasuga Taisha Shrine, both of which are designated as Unesco World Heritage sites. For travelers looking to explore beyond Nara, the city is just a short train ride away from popular destinations such as Kyoto and Osaka, approximately 35 to 40 minutes.

The eighth floor of Novotel Nara offers a spectacular rooftop terrace, perfect for guests to relax and enjoy the city skyline. Additionally, the hotel has a comfortable lounge area and a dining restaurant that serves delicious meals throughout the day. For business travelers, the hotel offers conference facilities, two …

According to a recent report by real estate firm Savills, Singapore ranked fourth in terms of leasing activity for the legal sector among Asia Pacific cities during the first half of 2024. This was behind Shanghai, Beijing, and Hong Kong.

Ashley Swan, Executive Director of Commercial at Savills Singapore, notes that legal firms in Singapore have been fairly active in a stable leasing market. Some firms have taken up new premises and adopted a refreshed way of working to attract and retain talent.

Globally, Singapore ranked 11th with New York topping the list, leasing out 1.4 million square feet of space to legal firms in the first half of the year. This accounted for more than half of the 4.3 million square feet leased by the world’s 15 largest legal markets.

Savills also highlights that US cities dominated the global legal leasing activity, accounting for 69% of the total market. …

A corner HDB shophouse located at Block 177 Toa Payoh Central has been listed for sale with a guide price of $5.88 million through an expression of interest (EOI) exercise. This two-storey shophouse boasts a prime location in the bustling Toa Payoh Central and comes with a 78-year leasehold tenure, with 46 years remaining.

The ground floor of the shophouse spans over 635 sq ft while the residential unit on the upper level measures 710 sq ft. Its double frontage of 8.3m and corner unit status offers flexibility and potential for maximizing rental income through further subdivision or alternative use with relevant authority approvals. This was stated by Sammi Lim, the founder and executive director of Brilliance Capital, who is the sole marketing agent for the property.

The guide price works out to be $5.88 million, and the shophouse is currently surrounded by HDB housing estates. The area is well …

The decision to invest in a condo in Singapore has gained momentum among not only local but also foreign investors thanks to the strong economy, stable politics, and exceptional quality of life in the city-state. With a thriving real estate market, there are plenty of opportunities available, and among them, condos are the most sought after due to their convenience, facilities, and promising returns. In this article, we will delve into the advantages, factors to consider, and key steps to take when purchasing a condo in Singapore, as well as explore the latest new condo launches.

The entire 6,867 square feet of the sixth floor of Tong Building on Orchard Road has been sold for $31.33 million, as evidenced by a caveat lodged on September 3rd. This translates to a unit price of $4,562 per square foot, which is the highest recorded for an office space in the prime …