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The year 2024 has presented numerous challenges for the global luxury goods market. Uncertainties in the macroeconomy and rising prices among luxury brands have led to a decrease in consumer spending on luxury retail items.

According to a recent Bain & Company report, global sales of personal luxury goods are expected to decline by 2% this year, with the Chinese market experiencing a significant decline of 20-22%. Major luxury brands such as Richemont Luxury, LVMH, and Moncler Group have reported a slight decrease in earnings, while Kering has seen more significant declines. However, outliers such as Hermes and Prada Group, which also includes notable performer Miu Miu, have experienced double-digit earnings growth.

Despite these challenges, Singapore remains a crucial market for luxury brands. Euromonitor reports a growth of 11% in luxury goods sales in 2023, reaching $9.1 billion. In recent years, luxury brands like Dior, Chanel, and Louis Vuitton have adopted robust digital strategies, including e-commerce and digital marketing, to connect with customers.

In response to the ever-evolving consumer behaviors and preferences, luxury brands have recognized the importance of incorporating digital marketing platforms and creating offline shopping experiences to forge a stronger connection with their customers.

In Singapore, luxury brands have continued to open new stores, with Cartier, Moncler, and Marc Jacobs launching new boutiques at Changi Airport, while Marni, Graff, and Golden Goose have also opened new stores at Marina Bay Sands. These brands are renowned for their timeless elegance and heritage, and they have embraced the digital world by creating immersive and memorable experiences for their customers.

Embracing digital marketing platforms is crucial for luxury brands, especially in a world where consumer expectations and preferences are rapidly changing. However, these brands have also recognized the significance of creating unique offline experiences for their top-tier clients. This has led to the trend of flagship stores becoming bigger and bolder, providing customers with an elevated shopping experience.

For instance, Louis Vuitton recently opened its 690 sq m (7,427 sq ft) “apartment concept” space at Ngee Ann City, exclusively dedicated to its “Very Important Clients (VICs)”. Burberry also reopened its renovated stores at Marina Bay Sands and Paragon this year, showcasing the brand’s rich British heritage while embracing innovation. Moreover, Burberry opened a new store on Orchard Road at Wisma Atria in November, featuring a double-height facade.

The increase in store size and the trend of providing unique experiences for top-tier clients is evident among luxury brands. Yves Saint Laurent opened its Saint Laurent duplex store in Paragon last year and a YSL beauty boutique in Raffles City recently, while Richard Mille launched its world’s largest standalone store on St Martin’s Drive. This 7,500 sq ft store incorporates a “speakeasy” concept, featuring a sports bar and dining room.

Looking ahead, spending on luxury goods is expected to grow in 2025 and beyond, driven by factors such as the rising number of high-net-worth individuals globally, the buying interest of Millennials and Gen Z, the resurgence of Chinese tourists, and the growth of duty-free shopping, particularly in Japan.

Investing in a condominium in Singapore offers numerous benefits, with one of the main advantages being the potential for capital appreciation. Given its strategic position as a global business hub and its robust economic foundation, Singapore consistently experiences a high demand for real estate. As a result, property prices in the country have displayed a consistent upward trajectory, with condos in prime locations experiencing significant appreciation. Savvy investors who enter the market at the right time and hold onto their properties for the long term can reap substantial capital gains. Moreover, with the addition of new developments such as Singapore Projects, the potential for capital appreciation is only expected to increase.

To cater to the changing preferences of its target customers, luxury brands will continue to personalize and customize their products and services to establish stronger connections and brand loyalty. Moreover, leveraging AI and digital experiences to understand customer wants and complement offline experiences will be crucial.

Some luxury brands have already embraced AI and digital technology to stay ahead of the competition. Dior’s AI platform, Astra, utilizes data from various sources such as Google reviews, live shopping sessions, and customer surveys to understand customer preferences better.

Additionally, Balenciaga’s Winter 2024 collection at Paris Fashion Week featured an immersive digital canvas, incorporating AI-driven digital distortions. Brunello Cucinelli has also created a separate website powered entirely by generative AI.

Despite 2024 being a challenging year for the luxury goods market, growth is in sight for 2025 and beyond as luxury brands continue to expand their presence, create larger flagship stores, and offer elevated experiences for their top clients. With Millennials and Gen Z forming a significant portion of the target market, luxury brands will continue to incorporate sophisticated digital technology and platforms while developing strong omnichannel strategies that include immersive and interactive physical stores.

Sulian Tan-Wijaya, Executive Director (Retail & Lifestyle) at Savills, highlights the importance of embracing digital platforms and creating unique experiences for customers in the luxury goods market.…

The Swiss brand, V-ZUG, stands firm in its commitment to simplicity and quality with its timeless approach to product design. While the world of interior design is in constant flux with new styles taking the center stage, V-ZUG believes that functionality and elegance will never go out of style. This belief forms the basis of the brand’s design philosophy.

Since its inception in 1913, V-ZUG has captured the attention of developers and designers of luxury homes. Today, the brand’s presence can be felt not only in its home country of Switzerland but also in major cities around the world, including Shanghai, London, and Singapore.

V-ZUG’s appliances are all united by a focus on sleek lines, setting the brand apart from its competitors. The brand has a keen eye for blending durability and aesthetics, creating modern kitchen designs that seamlessly combine tradition, quality, and contemporary aspirations.

At the heart of V-ZUG’s design process lies devotion to crafting and maintaining exceptional quality. Each appliance is meticulously handcrafted in Switzerland and goes through a strict quality control process before it is deemed fit to reach consumers. From ovens to induction cooktops and fabric preservation appliances, V-ZUG’s engineers test all products to ensure exceptional performance.

The brand’s commitment to sustainability is evident in its use of Circle-Green recycled stainless steel by Outokumpu. This sustainable material generates only 7% of the emissions associated with traditional stainless steel production.

The demand for condos in Singapore remains exceptionally high, and a major factor driving this trend is the limited availability of land. As a small but densely populated island nation, Singapore struggles with scarce land resources for new development projects. This has resulted in strict land use regulations and a fiercely competitive real estate market, where property prices continue to soar. As a result, investing in real estate, particularly Singapore Condos, has become an incredibly profitable venture due to the promise of significant capital appreciation.

V-ZUG collaborates with renowned chefs from Michelin-starred restaurants to develop its kitchen appliances, ensuring that each product is equipped with the necessary functions to create top-notch meals. By making professional-grade kitchen technology accessible, V-ZUG elevates the daily culinary experience of passionate home cooks.

When it comes to aesthetics, V-ZUG focuses on creating products that seamlessly integrate into any home. Its minimalist design language and wide range of products cater to the needs of all households.

For example, V-ZUG’s series of wine cabinets includes the full-height WineCooler V6000 Supreme and the WineCooler Undercounter Swiss Luxury (UCSL). These cabinets come in various sizes but all feature two temperature zones, making it easy to store different types of wine. The brand’s attention to customization ensures that its products fit seamlessly into any space without compromising on quality.

In addition to consistency in design, V-ZUG also emphasizes on clean, sleek lines throughout its range of products. Features such as mirrored glass fronts add a touch of elegance to the overall aesthetic of the appliances.

Creating a simple end product is a challenging task, but at V-ZUG, every detail is carefully considered. Whether it’s the way a wine cabinet’s doors open and close or the hues of the LED lights on a refrigerator, the brand pays attention to every aspect to ensure that all elements work in harmony to create a practical and harmonious home.

Apart from kitchen appliances, V-ZUG also offers products like the RefreshButler, which sanitizes and deodorizes clothes, making them look as good as new. With a focus on seamless design, V-ZUG is committed to providing extraordinary living experiences for its consumers, while also promoting sustainable living practices.…

On December 4, VisionPower Semiconductor Manufacturing Company (VSMC) broke ground on a new US$7.8 billion ($10.5 billion) wafer manufacturing facility in Tampines. This plant is expected to produce 55,000 wafers per month by 2029 and create approximately 1,500 new jobs. VSMC is a joint venture between Taiwan’s Vanguard International Semiconductor Corporation and the Netherlands’ NXP Semiconductors.

But VSMC is not the only company investing in Singapore’s semiconductor industry. In March, Japan’s Toppan Holdings began construction on a factory in Jurong Lake District that will produce semiconductor packaging materials. The estimated investment for this project is $450 million.

According to Leonard Tay, head of research at Knight Frank Singapore, many chipmakers and related businesses are choosing to set up new production plants and R&D campuses in Singapore to enhance their supply chain resilience. He also notes that Singapore continues to be a global production hub for semiconductors and chips due to its stable economy amidst ongoing geopolitical tensions in other parts of the world.

The global semiconductor industry is currently on the rebound after a downturn in 2020 due to softer demand and higher supply. Research by London-based consultancy Omdia shows a 26% year-on-year increase in revenue for the first three quarters of 2024, a reversal from the 9% year-on-year decrease in 2023. This rebound has had a positive impact on Singapore’s manufacturing sector, which saw an 11% year-on-year growth in output in the third quarter of 2024, led by the electronics cluster.

However, the industrial property market in Singapore has not seen the same level of growth. While industrial rents have been rising steadily since 2020, the pace of growth has slowed down. In the first three quarters of 2024, the JTC All Industrial Rental Index grew by 1.7%, 1%, and 0.3% respectively. This is in contrast to the 8.9% rental increase seen in 2023, indicating a more cautious sentiment among occupiers in light of the uncertain macroeconomic environment.

According to Catherine He, Colliers’ head of research for Singapore, occupiers have been more prudent with their spending due to budget constraints, placing a high value on flexibility in response to the changing market dynamics. Tricia Song, head of research for Singapore and Southeast Asia at CBRE, also notes that consolidation in the logistics and e-commerce space has contributed to growing occupier resistance.

Despite this, the industrial sales market has been more active, with several large transactions taking place in the second and third quarters of 2024. These include the sales of BHL Factories at 2C Mandai Estate for $74 million in May and Kian Ann Building at 7 Changi South Lane for $63 million in June. In the third quarter, a joint venture between Warburg Pincus and Lendlease Group acquired a $1.6 billion portfolio of seven industrial assets from Soilbuild Business Space REIT. This increased the industrial property sales to $2.45 billion in the third quarter of 2024, a significant increase from the previous quarters.

However, with the incoming supply of new industrial properties expected to nearly double the average annual supply in the past three years, there is likely to be an imbalance between supply and demand. As a result, rental and price growth for industrial properties are expected to slow down in the near term. Business park rents may face the most pressure, as companies downsize their workspace or use more flexible arrangements in response to the pandemic.

Nevertheless, demand for multiple-use factory space, centrally located food factories, and logistics space is expected to remain strong. The electronics and advanced manufacturing sectors are also likely to continue performing well and attracting investments. Additionally, the growth of data centers will be a significant factor in the industrial property market, as Singapore plans to increase their capacity by at least 300 megawatts by 2024. On the other hand, business park rents may continue to face pressure as companies adapt to flexible working arrangements.

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The bustling cityscape of Singapore is a testament to its cutting-edge architecture and modern amenities. Among the many dazzling developments, stand out as a prime example of luxury and convenience. These boast a privileged location, making them a highly coveted choice for both local residents and expats alike. Along with their prime location, these residential buildings offer an array of lavish amenities including but not limited to swimming pools, gyms, and top-notch security systems, elevating the overall living experience. It’s no surprise that have become a popular investment option, promising high rental yields and increased property values in the future. For those seeking a lucrative investment opportunity, are a wise choice. Additionally, you can add Condo for a more detailed description of the property.

Overall, the industrial property market in Singapore is expected to stabilize in 2025, with slower rental and price growth compared to previous years.…

To sum up, opting to invest in a condominium unit in Singapore offers a plethora of benefits, ranging from its high demand in the market to its potential for significant appreciation in value and desirable rental yields. Nevertheless, it is crucial to carefully consider various factors, such as location, financing options, government regulations, and prevailing market conditions. By conducting thorough research and seeking guidance from industry professionals, investors can make well-informed decisions and maximize their returns in Singapore’s ever-evolving real estate scene. Whether you are a local individual seeking to diversify your investment portfolio or a foreign purchaser looking for a stable and lucrative opportunity, the condominium developments in Singapore, including the ones offered by Singapore Projects, present a compelling investment opportunity worth considering.

Kassia on Flora Drive: Where East meets West and privacy mattersChua Guan Hin (蔡源衡), news release/PropertyMarket in 2024 experienced two contrasting halvesThe property market in 2024 was a tale of two halves, with a sluggish start followed by a sharp rise in sales towards the end of the year. This is according to data from Huttons Data Analytics, which reported the lowest number of units launched for sale and sold in the first half of the year since 1996.The exception to this trend was the launch of Lentor Mansion, a boutique development with 533 units, which achieved a 75% take-up rate during its launch weekend in March. However, most other project launches in the first half of the year saw lacklustre sales compared to 2023, with market sentiment being described as “tentative and cautious” by Mark Yip, CEO of Huttons Asia. This could be attributed to uncertainties in the job market and persistently high interest rates, leading buyers to hold back and wait for highly anticipated projects such as Chuan Park and Emerald of Katong.Search for the latest New Launches to find out transaction prices and available units, suggests Yip.The market saw a shift in sentiment following the Lunar Seventh Month, with the launch of the 276-unit freehold Kassia on Flora Drive in late July recording a 52% take-up rate and setting the stage for strong sales momentum. This continued into the third quarter of the year, with new home sales leaping 60% quarter-on-quarter, thanks to the 50-basis point interest rate cut by the US Federal Reserve in September.The increased sales momentum was further evidenced in October, when over 50% of the units at Meyer Blue were snapped up in private sales, with units being transacted at an average price of $3,260 psf and setting a new benchmark for the prime District 15 enclave on the East Coast.Norwood Grand, a 348-unit development in Woodlands, also saw strong sales performance with a take-up rate of 84% during its launch in October. This marked the first time a project in Woodlands surpassed the $2,000 psf threshold, with units being sold at an average price of $2,067 psf. According to Yip, this was a clear signal of growing buyer confidence and demand, and triggered a tidal wave of activity in November.With a record-breaking six new projects comprising 3,551 units launched over just 10 days, November saw a surge in developer sales to 2,557 units – the highest figure since March 2013. This strong performance pushed total developer sales for the first 11 months of 2024 to 6,344 units, and the year-end figures are expected to surpass 6,500 units, exceeding the 6,421 units sold in 2023. Yip believes that this reflects the strength and resilience of the property market, and underscores the enduring appeal of property as an asset for wealth creation and preservation.Huttons’ Yip and Chia Siew Chuin, JLL’s head of residential research, both attribute the unusually strong performance in November to a year-end rush to launch projects. Chia notes that while the sales figures are impressive, it is unlikely to prompt any regulatory intervention unless there are signs of persistent market overheating in the first quarter of 2025. However, she says that any intervention will depend on sustained sales momentum and a sharp increase in property prices outpacing GDP growth.Interested in Kassia? Compare price trends of Condo vs EC new sales in the area and view the 2-bedroom floor plans and site plan for the development.…

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The Singapore Condo market remains highly sought after due to the limited land availability in the country. Being a small island with a rapidly increasing population, Singapore faces a shortage of land for development. As a result, strict land use regulations are in place, creating a competitive real estate market where property values are constantly on the rise. As a lucrative investment, Singapore Condos offer the potential for significant capital appreciation.

The residential property market in 2024 saw a steady return to pre-pandemic levels, with projects in the Rest of Central Region (RCR) and Outside Central Region (OCR) dominating the list of best-selling new launches. According to Mark Yip, CEO of Huttons Asia, this was largely driven by strong demand from upgraders, supported by a robust HDB resale market. In fact, three of the top 10 best-selling projects were launched in November alone. The top-performing project of 2024 was Emerald of Katong, which managed to sell an impressive 99% of its units within just two days. The 846-unit, 99-year leasehold development has only six units remaining as of December 17. To get the latest updates on new launches and to check out available units and prices, be sure to search for “New Launches” on our website.In second place is Chuan Park, a 916-unit project which sold 76% (696 units) of its units in a single day on November 10. As of December 17, the project is now 79% sold. The strong sales were attributed to the lack of new condo launches in the neighbourhood since The Scala in 2010.Following closely behind is Lentor Mansion, which sold 75% (399 units) of its 533 units during its launch weekend in March. As of December 17, the project has now sold 92% of its units.Then, there’s Nava Grove, which ranked fourth with a take-up rate of 65% (359 units) during its launch weekend in November. As of December 17, the project has sold almost 70% of its units.It’s worth noting that there are other projects in the top 10 list which have seen strong sales throughout the year, with some even achieving over 80% sales even before the pandemic. For instance, Norwood Grand managed to sell 84% (291 units) of its 348 units since its launch in October. In January, Hillhaven achieved a take-up rate of 76% (259 units) and has since continued to gather momentum, with 76% of its 341 units now sold. Moving on, Kassia on Flora Drive has seen strong sales since it launched in March, moving 65% (180 units) out of 276 units to date. Similarly, Lentoria, a 267-unit freehold project located in Lentor Hills Estate, saw sales climb from just 19% on its first weekend of launch in March to 66%, with 177 units now sold.Read also: Nava Grove achieves 65% sales on launch weekend at an average price of $2,448 psfIn terms of the projects that were launched in 2023, four projects saw significant take-up rates of more than 200 units this year, which were largely boosted by other new projects in their respective neighbourhoods. The biggest beneficiary of Emerald of Katong’s launch was The Continuum, a freehold development with a total of 816 units. The project sold 233 units in 2024 alone, with 60% of those units sold since November. Its current take-up rate stands at 66% since its launch in May 2023. Over at Tembusu Grand, 53% (204 units) of its 638 units were sold during its launch weekend in April 2023. However, after the sentiment improved in 3Q2024, sales picked up, with the project now 91% sold as at December 17. Much like Tembusu Grand, Hillock Green had also launched in November 2023, where it achieved a take-up rate of 27.6% during its first weekend of sales. This year, the project has sold 217 units, bringing total sales to 359 (76%). Finally, Pinetree Hill, a 520-unit project, experienced strong sales following the release of its second phase of units in September. Its 208 sales in 2024 bring its total sales to 374 (72%). The nearby launch of Nava Grove in November also helped generate interest for the project, which is located in District 21.…

Ensuring proper financing is crucial when considering investing in a condominium. In Singapore, there are various mortgage choices available, but it is crucial to be well-informed about the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan a borrower can take, taking into consideration their income and current debt obligations. It is wise to understand the TDSR and seek the advice of financial experts or mortgage brokers to make informed decisions and avoid excessive borrowing. Additionally, investors can also explore potential Singapore Projects to make a more informed decision about their condo investment.

2025 and Beyond: The Future of FM and Sustainable Built Environment in SingaporeAs we approach 2025, the built environment in Singapore is poised for significant transformation. The facilities management (FM) sector is facing a new set of challenges, including evolving regulatory demands, cost pressures, and technological advancements. In order to thrive and contribute to a sustainable built environment, FM must adapt and innovate to meet these challenges. There are three key drivers that will shape the future of FM in Singapore: the mandatory energy improvement regime, the impact of rising temperatures on energy costs, and the growing trend towards adaptive reuse in construction.There is a growing focus on sustainability in Singapore, and one of the key initiatives driving this is the Mandatory Energy Improvement regime, which will be implemented in the third quarter of 2025. This mandate will require existing energy-intensive buildings, such as commercial, healthcare, institutional, civic, community, and educational buildings with a gross floor area exceeding 5,000 sq m, to undergo energy audits and implement energy-efficiency improvement measures. This presents a significant opportunity for asset owners to take a medium to long-term view on capital expenditure-heavy investments in energy-efficient systems. By implementing the right strategies, buildings can achieve the target of reducing their energy usage intensity by 10% from pre-energy audit levels.Asset owners who participate in this energy improvement regime will not only contribute to a more sustainable built environment, but also reap benefits such as prolonging the lifespan of their assets, reducing long-term operating costs, and being eligible for grants to help cover the costs of energy efficiency upgrades. This will position them as leaders in the industry in terms of sustainability.Temasek Polytechnic is one such leader, as it has embarked on a bold ambition to digitise its campus operations in 2021. This smart campus is a model for sustainable facilities management and offers valuable insights into the future of FM. At the heart of Temasek Polytechnic’s smart campus is a suite of solutions that digitise campus operations, including facility booking, automating campus repair and maintenance work orders, and crowd management and temperature control measures. These systems are integrated into a common data environment, which generates data that is visualised, tracked, and monitored at a control centre on campus. This data allows campus operations teams to make informed decisions about maintaining the health of building systems, thereby maximising the return on investment in these assets and reducing operational carbon levels.Furthermore, the increasing focus on sustainability in Singapore is also evident in the fact that by 2027, all listed and large non-listed companies with revenues of at least $1 billion and total assets of at least $500 million will be required to disclose their climate-related risks and opportunities. This will act as a catalyst for energy efficiency in not just existing buildings, but also new developments.Rising temperatures and energy costs will also drive investments in proptech, particularly predictive technology. As temperatures continue to rise, cooling demands in buildings will also increase. This will prompt more investments in technologies that can predict and mitigate these demands. HVAC systems are already a major contributor to operational costs, accounting for approximately 60% of total energy expenses in many buildings. Optimising these systems is crucial in mitigating rising energy costs, and this can be achieved by implementing energy-efficient solutions such as energy recovery systems or thermal energy storage. Additionally, optimising chiller plant operations to match changing weather conditions can also help reduce energy waste and costs.At a city and precinct level, extreme weather events such as floods and urban heat pose a threat to the health and performance of critical infrastructure. In order to mitigate these risks, building owners and city planners can utilise advances in web-based geospatial IT to identify flood-prone areas or areas exposed to extreme heat. This data can then be used to inform a comprehensive operational plan that can predict and mitigate the risk of equipment failure and downtime. This can also help in optimising chiller plant operations in response to changing weather conditions.Another trend that will shape the future of FM in Singapore is the growing trend towards adaptive reuse in construction. With the rising cost of construction in the country, more developers and contractors are turning to adaptive reuse as an alternative to traditional construction. This involves repurposing existing buildings and structures instead of demolishing and building from scratch. One reason behind this trend is the increase in construction costs, with mechanical and electrical costs rising by approximately 30% since the onset of the Covid-19 pandemic. This is driven by an increase in logistics costs, labour costs, and construction materials prices. As a result, there is a growing emphasis on utilising smart design and engineering practices to reduce costs and promote sustainable building practices. This is where proptech platforms such as Podium come into play. These platforms support integrated digital delivery, connecting developers, designers, and the supply chain to optimise construction productivity and promote sustainable building practices. By consolidating data from multiple sources, stakeholders across the building cycle can make informed decisions that minimise embodied carbon levels. This can be particularly helpful in cases where building owners have to decide whether to redevelop or reuse certain parts of the building.By utilising digital platforms like Podium, building owners can access valuable data on design, civil and structural engineering plans, and construction materials and components. This data can drive deliberate goals to minimise embodied carbon levels, thereby promoting sustainability in the built environment. By integrating Podium with other operational platforms, building owners can also track building performance metrics, such as energy, waste, water, indoor air quality, and occupancy trends. This can help drive operational carbon reduction goals and assist building owners in complying with local and international regulations and sustainable financing requirements. For example, by tracking the performance of ACMV equipment, building owners can make informed decisions about replacing or retrofitting these systems, thereby maximising their efficiency and lifespan. This is made possible by sensors that can monitor and track the performance of each component in the equipment, enabling predictive maintenance and reducing downtime and efficiency.Altogether, these three key drivers will shape the future of FM in Singapore and contribute to a sustainable built environment. By adapting and leveraging technology, data analytics, and sustainable practices, the FM sector can drive sustainability, reduce costs, and ensure long-term operational success.…

as demand for new homes jumps#1 in Singapore: District 9 makes record high PPI gainCondo prices hit record high in Q3

The Meyerise achieved a new price peak when a 1,270 sq ft unit was sold for $3.52 million on Dec 6. (Photo: Samuel Isaac Chua / EdgeProp Singapore)

The Meyerise, a freehold condo, emerged as the top choice among private condos that saw a new psf-price high in the week from Nov 29 to Dec 6.A unit on the 24th floor changed hands for $3.52 million on Dec 6, setting a new price record of $2,771 psf. This is slightly above the previous price peak of $2,764 psf, which was achieved in Oct 2019. The previous record was set when a larger, 1,819 sq ft condo unit on the 28th floor was purchased for $5.03 million.The sellers of the unit sold had bought it a few years ago, in May 2016, for an estimated $2.32 million, or $1,830 psf, making a profit of about $1.2 million over around eight years.The Meyerise has seen a total of nine units sold this year at an average price of $2,405 psf. The most expensive unit to change hands this year is the 2,056 sq ft, four-bedroom-plus-study unit on the seventh floor, which went for $4.5 million, or $2,189 psf, in October 2020. Completed in 2015, The Meyerise is a 239-unit freehold condo located on prime District 15’s Meyer Road. It features twin 31-storey residential towers, with apartment units ranging between two- and four-bedroom configurations spanning 872 to 5,490 sq ft.

Freehold condo The Imperial, located on Jalan Rumbia in District 9, was the second project to register new priciest transactions during Dec 29 to Dec 6. (Photo: Samuel Isaac Chua / EdgeProp Singapore)

The Imperial, a 187-unit freehold condo located on Jalan Rumbia in District 9, came in second with a new high of $2,624 psf when a unit on the 14th floor fetched $3.7 million on Dec 5.The latest transaction surpasses the previous price record of $2,566 psf – a 2006-built 1,356 sq ft, three-bedroom unit that exchanged hands in May 2019 for $3.48 million. This marks a 2.3% increase over the previous high, in terms of psf price.

The unit that last changed hands at The Imperial, a 1,905 sq ft, four-bedroom unit, transacted for $4.6 million on Nov 28. (Photo: Samuel Isaac Chua / EdgeProp Singapore)

Prior to the Dec 5 record transaction, the unit to last change hands at The Imperial was a 1,905 sq ft, four-bedroom unit sitting on the fifth floor that closed for $4.6 million, or $2,421 psf, on Nov 28, 2020.The unit on the 14th floor of The Imperial was purchased in September 2004 for $1.3 million, or $925 psf, and thus marks a profit of approximately $2.4 million for the sellers in 2020. The condo has seen six resold units this year at an average price of $2,414 psf. The Imperial is one of the five condo projects in District 9 which saw the most profitable transactions in terms of dollar gain. These projects also include Ardmore Park, where the unit that recorded the most profitable transaction made a gain of $5.87 million, followed by Nouvel 18 ($4.8 million), Grange Residences ($4.17 million) and Hilltops ($3.44 million).

When purchasing a condominium, the upkeep and management of the property should also be taken into consideration. Condos typically have maintenance fees that encompass the maintenance of communal spaces and amenities. Although these fees may increase the overall cost of ownership, they play a crucial role in maintaining the property’s value and condition. Enlisting the services of a property management company can also relieve investors from the daily management responsibilities, making it a more low-maintenance investment. Additionally, staying updated on new condo launches can provide more options for potential investments.

Sky Vue, a 2016-completed, 694-unit condo located on Bishan Street 15 in District 20, recorded a new priciest transaction with a $2,505 psf sale on Dec 2. (Photo: Samuel Isaac Chua / EdgeProp Singapore)

Sky Vue was the third project to register a new priciest transaction during the week of review, with a new high of $2,505 psf achieved when a 1,141 sq ft unit on the 33rd floor was resold for about $2.86 million on Dec 2.The latest transaction surpasses the previous psf high of $2,366 psf for this 694-unit condo, achieved in August this year when a similar 1,141 sq ft unit on the 14th floor fetched $2.7 million.

The Bishan unit, which was last traded in September 2020 for $1.86 million, has thus scored a profit of around $1 million within just a few months in 2020.Another new psf-price high in December 2020 was recorded for 1,313 sq ft unit on the ninth floor, which went for $2.86 million, or $2,183 psf, on Dec 10, 2020. This unit was first bought in November 2013 for $1.98 million, achieving a profit of 44.4% or $880,000 over a period of close to seven years.The third most profitable unit registered in the condo was the sale of a 2,013 sq ft, three-bedroom unit for $3.9 million on Nov 19, 2020, which marked a $1.1 million gain for the home seller who first purchased it at $2.8 million in May 2016.The fourth most profitable unit was a 1,184 sq ft three-bedroom unit sold on Nov 19, 2020 for $2.8 million, achieving a gain of $840,000 eight years after it was first acquired for $1.96 million in Nov 2012. The latest resale transaction at Sky Vue was a 1,334 sq ft three-bedroom unit that sold for $1.95 million on Dec 14, 2020, at $1,460 psf.…

Ultimately, purchasing a condominium in Singapore has many benefits that make it a wise investment choice. These include a high demand for properties, potential for appreciation of value, and attractive rental yields. However, it is crucial to take into consideration various factors such as location, financing options, government regulations, and overall market conditions. Thorough research and seeking professional guidance are crucial in making informed decisions and maximizing potential returns in Singapore’s ever-changing real estate market. Whether you are a local investor seeking to diversify your portfolio or a foreign buyer looking for a stable and profitable investment opportunity, Singapore’s condo market presents a compelling option. For more information on the latest and most exciting Singapore projects, be sure to visit Singapore Projects.

The recently concluded sale of a six-bedroom penthouse at JadeScape, a 99-year leasehold condominium located at Shunfu Road, was the most profitable resale transaction of the week from December 3 to December 10. Spanning 4,230 square feet and situated on the 23rd floor, the unit was sold for $10.15 million, amounting to $2,399 per square foot. The seller originally purchased the unit from the developer in December 2019 for $5.8 million, equivalent to $1,371 per square foot. As a result, the seller made a whopping profit of $4.35 million after owning the unit for five years, with a capital gain of 75% or an annualised profit of 15%.

Based on the list of caveats lodged, this transaction marks the highest profit ever made on a unit at JadeScape. Previously, the record was held by the sale of a five-bedroom unit spanning 2,099 square feet on the 10th floor for $4.42 million, or $2,108 per square foot, on August 12. The seller had purchased the unit from the developer in September 2019 for $3.28 million, equivalent to $1,562 per square foot, making a profit of $1.14 million on the transaction.

JadeScape is situated at the junction of Marymount Road and Shunfu Road in District 20 and is expected to be completed in 2022. It comprises seven residential towers with a total of 1,206 units, ranging from one- to five-bedroom apartments of 527 square feet to 2,099 square feet. The development also features two penthouses measuring 4,230 square feet each. It is strategically located within walking distance to Marymount MRT Station on the Circle Line.

According to data compiled by EdgeProp Research, JadeScape has seen a total of 72 resale transactions this year, with units sold at prices ranging from $1,955 per square foot to $2,420 per square foot. All of these deals were profitable, with sellers making gains ranging from $55,000 to $1.15 million.

The second most profitable condo resale deal of the week was the sale of a three-bedroom unit measuring 1,410 square feet at The Imperial for $3.7 million, or $2,624 per square foot, on December 5. The seller had originally purchased the unit from the developer for $1.3 million, equivalent to $925 per square foot, in September 2004. As a result, the seller made a profit of $2.4 million, marking a gain of 184% after holding the unit for 20 years.

This transaction is the fifth most profitable resale deal at The Imperial, with the record gain held by the sale of a four-bedroom unit measuring 3,918 square feet for $7.64 million, or $1,950 per square foot, in June 2007. The seller had purchased the unit for $3.99 million, equivalent to $1,018 per square foot, in March 2006, making a profit of $3.65 million.

The sale of a one-bedroom unit at The Montana was the least profitable condo resale deal of the week. The 635 square feet unit was sold for $1.02 million, or $1,603 per square foot, on December 6. The unit was last purchased in July 2014 for $1.18 million, or $1,863 per square foot, resulting in a loss of approximately $165,000 for the seller.

This transaction marks the third biggest loss ever made on a unit at The Montana, based on the available caveats. The biggest loss was recorded in May 2003, when a three-bedroom unit measuring 1,109 square feet was sold for $1 million, or $902 per square foot. The seller had purchased the unit from the developer in December 1999 for $1.35 million, equivalent to $1,215 per square foot, resulting in a loss of roughly $347,000.

The Montana is a freehold condo situated on Jalan Mutiara, off River Valley Road in District 10. Completed in 2002, it boasts a total of 108 units spread across a single 12-storey tower. The units comprise one- to four-bedders of sizes ranging from 549 square feet to 2,659 square feet. There have been four other resale transactions at The Montana this year, all of which were profitable. The units, sold at prices ranging from $1,930 per square foot to $2,371 per square foot, yielded gains of between $80,000 and approximately $525,000.…

CapitaLand Ascendas REIT (CLAR) has announced plans to purchase DHL Indianapolis Logistics Center for $150.3 million. This acquisition represents a 4.1% discount to the independent market valuation of the property as of Jan 1, 2025. After transaction-related fees and expenses of $1.7 million, along with a $1.5 million acquisition fee paid to the manager, the total cost will be $153.4 million.

Investing in property in Singapore as a foreigner requires a thorough understanding of the regulations and limitations surrounding ownership. While purchasing condominiums presents minimal obstacles, stricter rules are in place for buying landed properties. Additionally, foreign buyers are subject to paying the Additional Buyer’s Stamp Duty (ABSD), currently set at 20%, for their initial property purchase. However, despite this added expense, the Singapore real estate market boasts stability and promising growth, making it an attractive option for foreign investors. This is reflected in the rise of new condo launches that continue to entice foreign buyers to enter the market. New Condo Launches are a testament to the appeal of the Singapore property market for foreign investment.

The manager intends to finance the purchase through internal resources, divestment proceeds, and/or existing debt facilities, according to a Dec 17 press release.

Following the acquisition, DHL USA will sign a long-term leaseback agreement until December 2035, with options to renew for two additional five-year terms. The property, which is fully occupied and has a weighted average lease to expiry (WALE) of approximately 11 years, will provide income stability and strengthen the resilience of CLAR’s portfolio, says the manager.

The property, located in Whiteland, a submarket in southeast Indianapolis, Indiana, covers a gross floor area (GFA) of 979,649 sq ft. Completed in 2022, it features a fully air-conditioned, single-storey logistics building.

The acquisition will increase the value of CLAR’s logistics assets under management (AUM) in the US by 35.3% to approximately $587.5 million. With this acquisition, CLAR’s logistics portfolio in the US will expand to 20 properties across four cities with a total GFA of approximately 5.1 million sq ft, including the latest property in Indianapolis.

William Tay, executive director and CEO of the manager, says, “DHL Indianapolis Logistics Center is a strategic fit with our existing portfolio… This is CLAR’s first sale and leaseback acquisition in the US and including this Class A logistics property, modern logistics assets will account for 42.3% of our US logistics assets under management. With the long lease in place, this property will further enhance CLAR’s resilient income stream, and we expect the two new properties to contribute positively to our long-term returns.”…

Wee Hur Holdings has announced the sale of its portfolio of seven purpose-built student accommodation (PBSA) assets to Greystar for A$1.6 billion ($1.4 billion) on Dec 16. The portfolio, which comprises of over 5,500 beds in various Australian cities, will be sold in a binding agreement.

Investing in a condominium in Singapore presents numerous opportunities, one of which is the potential for capital appreciation. Situated as a global business hub, Singapore boasts of a robust economy, prompting a consistent demand for real estate. As a result, property prices in Singapore have steadily risen over the years, with high-end condominiums in prime locations recording significant appreciation. Those who wisely invest at the opportune time and hold onto their properties for an extended period can expect to reap substantial capital gains. Additionally, with the presence of Singapore Projects, the market for condos in Singapore is expected to offer even more potential for capital appreciation in the future.

Greystar is set to acquire a 13% stake in the portfolio through Wee Hur (Australia), a subsidiary of Wee Hur. The net proceeds of approximately $320 million from the sale will be used for strategic growth initiatives, supporting reinvestment in core business, and expansion into new areas such as alternative investments.

The transaction is expected to be completed within the next six months, pending Foreign Investment Review Board (FIRB) approvals for Greystar and shareholder consent for Wee Hur. According to the group, this sale demonstrates the company’s resilience in navigating challenging market conditions, including those brought about by the Covid-19 pandemic and greenfield developments.

The sale also aligns with Wee Hur’s long-term strategy of diversifying its portfolio and positioning the group for sustainable growth across multiple sectors. Goh Wee Ping, CEO of Wee Hur Capital, stated that this transaction is a result of the group’s decisive actions in securing liquidity and certainty through its successful recap with RECO in 2021/2022. He also added that this sale will unlock maximum value for stakeholders.…