Condo Russian Remote

Hilton, a global leader in hospitality, has recently opened the doors to its newest property, the Hilton Garden Inn Beihai Jiafu, located in the vibrant seaport city of Beihai in China. This milestone marks the 100th Hilton Garden Inn in the Greater China region, showcasing the company’s commitment to growth and expansion in this dynamic market. The 199-key hotel is conveniently situated just 2km from Beihai High-Speed Railway Station and 6km from Beihai Fucheng Airport, with easy access to various transportation options. It is also a short 20-minute drive to Beihai International Passenger Port, making it an ideal location for both business and leisure travelers.

Singapore’s cityscape is characterized by towering skyscrapers and state-of-the-art facilities. Condominiums, strategically situated in prime locations, offer a fusion of opulence and practicality, making them a desirable choice for both locals and foreigners alike. These residential complexes boast an array of conveniences, including swimming pools, fitness centers, and round-the-clock security, elevating the standard of living and making them a sought-after option for potential renters or buyers. This not only presents a lucrative opportunity for investors in terms of higher rental returns, but also ensures a steady increase in property values over time. With the addition of Singapore Condo, the urban landscape of Singapore truly shines as an unparalleled example of modern development.

According to Qian Jin, the President of Hilton Greater China and Mongolia, the opening of the Beihai Jiafu Hilton Garden Inn not only reflects the brand’s rapid expansion, but also reaffirms their dedication to the Chinese market. Hilton first introduced the Hilton Garden Inn brand to China in 2014 with the opening of their flagship property in Shenzhen. Since then, the brand has continued to grow and establish a strong presence in major cities such as Shanghai, Beijing, Chengdu, Guilin, and Aksu. With more properties in the pipeline, Hilton Garden Inn is set to open in popular tourist destinations like Zhangjiajie, Ordos, Huangshan, Shanwei, and Jinan by 2025.

In addition to expanding its reach, Hilton Garden Inn is also evolving to cater to the changing needs of travelers. The brand is set to introduce its new Hilton Garden Inn Gen A properties in Greater China, specifically designed for a new generation of travelers – Generation Alpha. The first Hilton Garden Inn Gen A locations will be launched in Nanjing, Chengdu, Chengde, and Jinan. This innovative prototype is a testament to Hilton’s commitment to constantly innovate and deliver exceptional experiences to their guests.

The upcoming openings in China also contribute to Hilton Garden Inn’s expansion in the wider Asia Pacific region. Clarence Tan, Senior Vice President of Development, Asia Pacific at Hilton, shares that over 200 Hilton Garden Inn properties are currently in the pipeline in Apac alone. As Hilton continues to strengthen its presence in this region, travelers can look forward to enjoying the brand’s signature hospitality and world-class services in more destinations in the near future.…

CapitaLand Investment Limited (CLI) has announced its latest acquisition, adding to its growing presence in Australia. The property and corporate credit investment management business of Wingate Group Holdings, plus an earn-out, was acquired for A$200 million ($173 million).

CLI’s funds under management (FUM) in Australia will be boosted by 30% to A$8.3 billion with the addition of Wingate’s A$2.5 billion FUM. This accounts for 7% of CLI’s total FUM of $115 billion, and is a significant step towards the company’s target of $200 billion in FUM by 2028.

This acquisition is part of CLI’s commitment to invest up to A$1 billion in growing its FUM in Australia. This focus on Australia comes after a decade of divesting its key assets in the country to prioritize faster-growing markets like China and other overseas markets.

The news of CLI’s acquisition of Wingate was first reported by the Australian media last month, and was officially announced on Dec 16. Wingate is known as one of Australia’s leading private credit investment managers, having completed more than 350 transactions worth over A$20 billion.

CLI is familiar with Wingate, having previously partnered with them to create the A$265 million Australia Credit Program (ACP). The acquisition of Wingate will expand CLI’s proprietary deal origination networks and enhance its access to more institutional and private high-net-worth investors. It will also increase CLI’s exposure to the Australian market.

The attractiveness of investing in condos in Singapore has been on the rise lately, both for local and international investors. This can be credited to the country’s strong economy, stable political environment, and high standard of living. The real estate market in Singapore is renowned for its diversity and dynamic nature, with condos standing out for their convenience, opulent amenities, and potential for profitable returns. With a plethora of options available, investors have a wide range of Singapore projects to choose from when considering a condo investment. In this article, we will explore the benefits, factors to consider, and crucial steps to take when venturing into a condo investment in Singapore.

According to Paul Tham, CLI’s group CFO, there are also promising private credit opportunities in other Asia Pacific markets, such as South Korea, India and Japan. As CLI continues to diversify geographically, Tham sees Australia as a focus market with great potential for growth.

The Australian private capital market has seen a 33% growth in the past 18 months, with assets under management reaching A$139 billion. It is projected that by 2028, there will be a commercial mortgage funding gap of A$146 billion. Wingate’s addition to CLI’s portfolio diversifies its current holdings, which include logistics, business parks, offices, and lodging assets in nine Australian cities.

As of Sept 30, CLI manages 34 logistics properties and business parks and four Grade A office buildings in Australia. It also owns and manages over 13,500 lodging units across more than 150 properties through its wholly-owned lodging business unit, The Ascott. The acquisition of Wingate marks another step in CLI’s growth and diversification in the Australian market.…

A row of four freehold conservation shophouses situated at 762, 764, 766 and 768 North Bridge Road is currently up for sale through an expression of interest (EOI) with a guide price of $37 million.

These properties are located across two plots of land spanning 5,766 sq ft, with an average land rate of $6,417 psf. The first plot includes 762 and 764 North Bridge Road, sharing a land area of 2,891 sq ft and a built-up area of 4,917 sq ft, including a mezzanine level. The remaining two shophouses at 766 and 768 North Bridge Road are situated on a separate plot of 2,875 sq ft, with a built-up area of 4,657 sq ft, including a mezzanine level.

Marketing the properties exclusively is Isabel Sim, associate senior marketing director at Huttons Asia. According to Sim, the usable area of each property could be expanded by extending the rear to create an outdoor terrace on the second floor, subject to relevant authorities’ approvals. This could potentially increase the usable area by approximately 1,000 sq ft per land plot.

The shophouses are currently tenanted by a fitness retail shop, convenience store, and massage and reflexology service providers. As commercial properties, potential buyers are not subjected to Additional Buyer’s Stamp Duty (ABSD), making them an attractive investment for both local and foreign buyers seeking stable rental yields and potential capital gain.

When contemplating investing in a condo, it is crucial to examine its potential rental yield. This refers to the annual rental income in comparison to the purchase price of the property. The rental yield for condos in Singapore can vary greatly depending on factors like location, property condition, and market demand. Generally, areas with a high demand for rentals, such as those near commercial hubs or educational institutions, offer better rental yields. It is beneficial to conduct thorough market research and seek advice from real estate agents to gain valuable insights on a specific condo’s rental potential.

All four shophouses command prominent frontage along North Bridge Road, benefitting from high visibility and footfall in the historic Kampong Glam Conservation enclave. Furthermore, they are conveniently located within walking distance to Bugis MRT Interchange, providing access to the East-West and Downtown Lines, as well as Nicoll Highway MRT Station along the Circle Line.

The area’s prime central location, rich historical significance, and vibrant commercial environment have made it a popular spot for both locals and tourists alike. Notable landmarks such as Sultan Mosque (located just down the road from the properties) and the Malay Heritage Centre (situated on the former grounds of Istana Kampong Glam) have enhanced the area’s appeal.

The EOI exercise is set to close on January 10, 2025, at noon. For more information, interested parties can contact Isabel Sim Cheng Yi at 81802707, Associate Senior Marketing Director (R065855G) of HUTTONS ASIA PTE. LTD.…

Ultra-luxury Cuscaden Reserve sees new price high of $3,830 psfTwo-bedder at Grange 1866 sets new high of $3,007 psf

In the week of Nov 22 to 29, Grange 1866, a freehold development, set a new price peak of $3,393 psf with the sale of a 818 sq ft, two-bedroom unit for $2.78 million. This broke the project’s previous record of $3,390 psf. It narrowly beat the June 2019 record of $3,390 psf when a 764 sq ft unit was sold for $2.59 million.

So far this year, Grange 1866 has had 12 new sale transactions with an average price of $3,181 psf. The most expensive unit sold this year by price was a 1,012 sq ft, two-bedroom unit on the 16th floor that was sold for $3.02 million ($2,989 psf). The project has sold 45 units out of its 60 units (75%).

Grange 1866, located in prime District 10 on Grange Road, is expected to be completed by the end of 2024. It consists of a single 16-storey residential block on a 20,322 sq ft, freehold site. The units include one- and two-bedroom apartments ranging from 527 to 1,012 sq ft.

Hill House, a boutique condo, secured the second spot with a new psf-price high of $3,378 psf in November. The latest record was set when the developer sold a 452 sq ft, two-bedroom unit on the 8th floor for about $1.53 million on Nov 25.

One of the reasons why investing in condos has become increasingly popular in Singapore is due to the limited availability of land and the rapidly growing population. As a small island nation, Singapore faces the challenge of finding space for development. In response to this, the government has implemented strict regulations for land usage, resulting in a highly competitive real estate market and skyrocketing property prices. This has made the condo market a highly profitable choice for investors, with the potential for significant returns. As the demand for land in Singapore continues to rise, condos have become an integral part of the city-state’s real estate industry Condo.

This surpassed the previous record of $3,267 psf, which was achieved on Nov 11 when a similar sized two-bedroom unit on the fifth floor was sold for around $1.48 million. The developer has sold a total of 12 units at Hill House this year at an average price of $3,108 psf.

Hill House, a 999-year leasehold condo, located in prime District 9, is expected to be completed in 2026. It comprises one-bedroom and one-bedroom-plus-study units from 431 to 452 sq ft; two-bedroom units at 624 sq ft; and three-bedroom apartments at 753 sq ft. This is a total of 72 units.

The Cosmopolitan, a freehold condo completed in 2008, snagged the third spot with a new psf-price high of $2,817 psf with the sale of a 1,324 sq ft, three-bedroom unit on the 26th floor for $3.73 million on Nov 25.

The new record beat the previous peak of $2,795 psf achieved in October 2019 when a similar sized three-bedroom unit on the 17th floor was sold for $3.7 million. The sellers of the 26th floor unit had bought it in November 2010 for $2.58 million ($1,950 psf). This means they made a profit of $1.15 million.

The Cosmopolitan is a 228-unit freehold condo on Kim Seng Road, off River Valley Road, in prime District 9. It comprises two-bedroom units at 1,141 sq ft; three-bedroom units from 1,324 to 1,399 sq ft; and four-bedroom apartments at 1,679 sq ft. It is within 1km of River Valley Primary School and walking distance of Great World MRT Station on the Thomson-East Coast Line. Great World City offers nearby dining and retail options.…

The second quarter of 2024 saw a positive turn for global real estate returns, signaling a potential recovery after two consecutive years of losses. Low interest rates had previously caused a surge in real estate values, with total returns reaching an impressive 5.0% quarter-on-quarter in the fourth quarter of 2021 and 17.8% year-on-year in the first quarter of 2022 – figures that were well above long-term averages.

However, as interest rates began to rise, these gains were erased, bringing real estate values back down to 2018 levels globally. Now, with the market correction nearing completion, it may be an opportune time for investors to reconsider this asset class. Historically, real estate has provided stable income returns and portfolio diversification benefits over the long term, and it has also shown robust returns during recovery periods. For example, after the early 90s recession, investors saw a 76% cumulative return over the next five years. Following the dot-com bust, the five-year cumulative total return was 98%, and after the Global Financial Crisis, it was 86%.

In the second quarter of 2024, global real estate values saw a moderate decline of 0.74%, the lowest quarterly adjustment in the past two years. This was offset by income returns of 1.07%, resulting in a positive total return of 0.33%, the first positive quarter since the second quarter of 2022. Out of the 15 global markets in the MSCI Global Property Index, the majority saw an increase in real estate values for the first time since the second quarter of 2022. Eight markets, including Japan, South Korea, Singapore, Southern Europe, the Nordics, the Netherlands, France, and the UK experienced value increases compared to the previous quarter. Six markets saw value losses between 0.3% and 1.5%, all of which were lower than in the first quarter of 2024. Only Australia recorded a larger decline in the second quarter compared to the first, with a 4.2% correction that brought its valuations more in line with its peers. However, it’s important to note that changes in capital values are just one component of real estate returns. Historically, the larger component of total returns has been income. This highlights the importance of considering both capital and income aspects when evaluating real estate investments.

Overall, in the second quarter of 2024, total returns were positive in 12 out of 15 countries in the MSCI Global Property Index. They were flat in the US (-0.09%), slightly negative in Ireland (-0.22%), and significantly negative in Australia (-3.07%). However, preliminary data from the NCREIF ODCE index (a capitalization-weighted, gross-of-fee, time-weighted return index) showed positive total returns for the US (0.25%). With values beginning to rebound, we expect the positive trajectory in total returns to continue.

As for the outlook in the Asia Pacific region, there are signs of a potential rebound in real estate investment globally after two slow years. However, China and Japan may face challenges. In the third quarter of 2024, China and Japan accounted for 27% and 15% of the $7.5 billion in cross-border inflows in the Asia Pacific region. While over half of Japan’s inflows came from global sources, most of China’s came from within the region, particularly from Hong Kong and Singapore. However, both countries face high debt costs and other factors that may hinder a strong rebound in real estate capital inflows.

In China, there has been a significant decline in interest from the West over the past couple of years due to geopolitical and economic concerns. Despite a recent major stimulus package from Beijing, interest is unlikely to return anytime soon, as the market has been stagnant due to price dislocation, geopolitical risk, and a lack of liquidity. Since 2021, China has also been facing a property crisis exacerbated by the collapse of Evergrande. This has led to many European investors avoiding China and Hong Kong, regardless of potential returns. Additionally, China’s domestic property crisis persists, with high office vacancies and low rental yields, ongoing issues with failing developers, and government interventions.

In Japan, the situation is different as the country remains an outlier in terms of interest rate policies. While major markets like the US have cut interest rates to boost property investment, Japan has not. As a result, the broader Japanese property sector is losing its appeal, and interest rate policies and limited cap rate compression have made it less attractive. In July, the Bank of Japan raised borrowing rates for the first time since 2007 to control inflation, further reducing market attractiveness. This hike has prevented cap rate compression, meaning property prices haven’t risen, forcing real estate holders to rely on historically low-income yields. However, senior housing remains an attractive niche due to Japan’s aging population, with 29% of the population aged 65 or over. These assets are small and require an amalgamation strategy by investors.

Meanwhile, in Australia, the purpose-built student accommodation (PBSA) market has great potential due to a significant housing shortage. Currently, only 20% of students in Melbourne and Sydney can be accommodated by universities, forcing the rest to seek private rentals. Additionally, real estate debt in Australia offers appealing risk-adjusted returns, with funding gaps in construction making financing difficult for many developers. As a result, we are looking at sectors like logistics or PBSA, where we see long-term growth opportunities.

Overall, the real estate market appears to be stabilizing in terms of valuations and transaction market pricing. This suggests that the market may be near its bottom, but it’s important to note that these signals alone do not indicate an attractive entry point. For market pricing and valuations to increase, we would ideally see declining interest rates and strengthening property fundamentals. Most developed market central banks are beginning to taper interest rates, which should put downward pressure on financing rates, discount rates, and property capitalization rates, thereby boosting the value of real estate assets. Additionally, a pullback in construction activity across sectors bodes well for property fundamentals in the medium term. With supply headwinds waning, markets with positive demand due to population growth or structural changes, such as e-commerce, are set to see increased occupancies in the medium term. Historically, occupancies and rent growth are well correlated, providing investors with opportunities to gain from increased occupancies, rents, and the associated rise in property values.

The demand for condos in Singapore remains consistently high, largely due to the island nation’s limited land availability. As the population continues to grow rapidly, Singapore faces ongoing challenges in finding space for development. This has resulted in strict land use policies and a competitive real estate market, where property prices are continually on the rise. As a result, investing in condos, specifically, has become a highly profitable opportunity, promising significant capital appreciation. With numerous Singapore projects in the works, the demand for condos is expected to remain strong in the foreseeable future.

While the outlook for global private real estate appears to be improving, it’s important to note that not all markets and property types will perform equally well. For instance, the US office market still faces significant challenges, and a broad recovery in that segment seems highly unlikely in the near term. This underscores the importance of research and selectivity when investing in real estate, as it is crucial to consider market conditions and property types. In an uncertain economic and geopolitical environment, additional risks are inevitable, but this applies to all asset classes. Over the past two years, the weight of real estate in investors’ portfolios has significantly decreased due to resetting real estate values and a record stock market. Today, it may be beneficial for investors to consider allocating fresh funds to the private real estate market to achieve a strategic weighting. Over the long term, private real estate offers low correlations to other asset classes, strong income returns, and a degree of inflation hedging. While there may be bumps in the road, we believe the market is beginning to look up, presenting excellent investment opportunities for savvy investors.…

Investing in a condo in Singapore offers numerous benefits, one of which is the potential for capital appreciation. Because of Singapore’s strategic location as a major business hub and its solid economic foundation, the demand for real estate remains constant. As a result, property prices in the country have consistently risen over the years, particularly in prime locations where condos are highly sought after. Those who make smart investments at the right time and hold onto their properties for a prolonged period can reap significant profits from the steady increase in property value. Keeping an eye on new condo launches can also present opportunities for lucrative investments.

A record-breaking sale at Island View, a freehold condo in Pasir Panjang, has made headlines in the real estate market. The 3,498 sq ft unit was sold for $4.8 million on Nov 27, making it the most profitable condo resale transaction of the week from Nov 26 to Dec 3. The seller, who purchased the property in September 2005 for $1.3 million, made a gain of $3.5 million after owning it for 19 years. This represents a capital gain of 269% or an annualised profit of 14.2%.

The transaction on Nov 27 also sets a new record for the most profitable deal at Island View, surpassing the previous record of $3.19 million gained from the sale of another 3,498 sq ft unit in February 2022. The condo, located on Jalan Mat Jambol, off Pasir Panjang Road, is a 72-unit boutique development completed in 1984. The freehold project features low-rise blocks of apartments ranging from 3,056 sq ft to 3,538 sq ft. It is within walking distance of Pasir Panjang MRT Station on the Circle Line.

Interestingly, the sellers at Island View had attempted a collective sale in September 2023, with a guide price of $575 million. However, the tender closed the following month without any bids, and the project was relisted in March without any success.

The second most profitable condo resale deal of the week was at Cavenagh Court, a freehold condo on Cavenagh Road in District 9’s Newton area. A 1,862 sq ft unit was sold on Dec 2 for $3.65 million, marking a new record profit for the development. The seller, who purchased the unit in April 2006 for $1.02 million, made a gain of $2.63 million (258%) after nearly 19 years of ownership. The previous record gain was $2.15 million from the sale of another 1,862 sq ft unit in April 2022.

Completed in 1971, Cavenagh Court is a boutique development comprising 68 units ranging from 1,819 sq ft to 1,862 sq ft. The condo is a short drive from the Orchard Road shopping belt and has only seen one other resale transaction this year.

In contrast, the sale of a duplex penthouse at The Berth By The Cove was the least profitable condo resale deal of the week. The four-bedroom apartment spanning 3,089 sq ft was sold for $3.6 million on Nov 29, resulting in a loss of $1.93 million. The unit was last transacted in August 2007 for $5.53 million. The biggest loss at The Berth By The Cove belongs to a 2,939 sq ft unit sold in February 2018 for $3.25 million, resulting in a $2.39 million loss.

The Berth by the Cove, a condo along Ocean Drive in the Sentosa Cove residential enclave, has seen seven other resale transactions this year. Both Island View and The Berth by the Cove are among the most sought-after condos in their respective districts.…

A major advantage of investing in condos is the potential to leverage the property’s value for future investments. Numerous investors utilize their condos as collateral to secure additional financing for other ventures, enabling them to broaden their real estate portfolio. While this approach can significantly increase profits, it also entails potential risks. Therefore, it is essential to have a solid financial strategy in place and carefully consider the potential effects of market fluctuations. Moreover, with the availability of New Condo Launches, investors have even more options to expand their investment opportunities.

Ashish Manchharam, a renowned real estate and hospitality veteran from Singapore, has been appointed as a board director for Cove, a flexible living platform. With over a decade of experience in the industry, Manchharam is the founder and former CEO of 8M Real Estate, which grew to a portfolio of $1.5 billion before his exit in 2023. He then established Elevate Capital in 2024, focusing on lifestyle-driven real estate investments.

In his role as an advisor, Manchharam will assist Cove in acquiring flexible living assets through partnerships with third-party investors, such as real estate funds, institutional investors, and family offices. This appointment aligns with Cove’s strategy to accelerate its growth and expand into new markets. Previously, the platform operated as a branded flexible living operator and online listing platform, catering to professionals and students.

Since its inception in 2018, Cove has successfully grown its portfolio to over 6,000 rooms in Singapore and Indonesia. The company has its sights set on the wider Asia Pacific region and recently made its foray into South Korea, with plans to launch 800 rooms, and Japan, where it aims to have 400 rooms through local joint venture partners.

To support its regional expansion and strengthen its position in existing markets, Cove has closed an additional funding round of US$4.5 million. Alongside existing investors Eurazeo and Keppel, who took a minority stake in Cove in December 2020, Manchharam participated in this round. Cove’s CEO and co-founder, Guillaume Catagne, shared that the flexible living platform saw significant portfolio growth and was EBITDA positive in 2024. The company has set a goal to double its portfolio to 15,000 units by the end of 2025.…

Singapore is faced with a significant challenge due to its small land size and growing population. This has resulted in a scarcity of land for development, leading to a highly competitive real estate market. To regulate this issue, strict land use regulations have been implemented. As a result, property prices have steadily increased, making Singapore condos a highly coveted investment opportunity. This trend has made investing in real estate, especially in Singapore condos, a profitable choice with the potential for significant capital appreciation.

William Liem, the CEO of Tuan Sing Holdings, has once again increased his stake in the company. Through an entity called Nuri Holdings (S), Liem bought a total of 1,745,300 shares from the open market on December 5 and 6, for a total amount of $447,613.50.

Nuri Holdings now holds nearly 672.7 million shares in Tuan Sing, which is equivalent to 54.09% of the company’s shares. This is not the first time Liem has used Nuri Holdings to acquire shares in Tuan Sing. In September, the entity bought shares at an average price of 25 cents to 25.5 cents. The recent purchases bring Nuri Holdings’ total shareholding in Tuan Sing to a significant level.

As of June 30, Tuan Sing’s net asset value per share was reported at 97.8 cents, slightly lower from 99 cents as of December 31, 2023. Despite the decline, the company has been actively pursuing new acquisitions, such as the recent purchase of several assets from PT Senimba Bay Resort in Batam for $28 million.

With the increase in stake by Liem and the company’s strategic acquisitions, Tuan Sing is poised for further growth and development. As the company continues to expand its portfolio, investors can expect positive returns in the near future.…

The management team of AIMS APAC REIT (AA REIT) has recently announced that its REIT’s trustee, HSBC Institutional Trust Services (Singapore) Limited, has entered into a sales and purchase agreement with Crown Worldwide for the sale of its property located at 3 Toh Tuck Link. This divestment is part of the REIT’s ongoing efforts to proactively manage its assets and strengthen its portfolio.

The agreed sale price of $24.388 million represents a significant 32.5% premium to the property’s valuation of $18.4 million as of March 31. The property is comprised of a three-storey factory and a five-storey ancillary office building, with a total gross floor area of 12,492.4 sqm.

Investing in a condo in Singapore presents a multitude of benefits that make it a desirable and lucrative choice. These advantages include the high demand for condominiums, potential for capital appreciation, and attractive rental yields. However, it is crucial to carefully weigh factors such as location, financing options, government regulations, and market conditions before making a decision. By conducting extensive research and seeking the guidance of professionals, investors can make informed choices and maximize their returns in Singapore’s ever-evolving 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, condos in Singapore offer a compelling opportunity for success.

According to the CEO of the manager, Russell Ng, the net proceeds from the divestment will be reinvested to support AA REIT’s growth initiatives, such as potential new acquisitions, asset enhancement initiatives, or future redevelopment projects. This decision is in line with the REIT’s strategy of continuously rejuvenating its portfolio and strengthening its resilience to deliver sustainable returns for its unitholders.

The divestment is expected to be completed by the first half of 2025, subject to approval from JTC Corporation. Upon completion, AA REIT’s portfolio will consist of 27 properties in Singapore and Australia.

In conclusion, the divestment of the property at 3 Toh Tuck Link is a strategic move by AA REIT to further strengthen its portfolio and generate long-term sustainable returns for its unitholders. This reflects the REIT’s commitment to proactive asset management and continuous efforts toward portfolio rejuvenation.…

The conservation shophouse at 93 Tanjong Pagar Road is currently on the market for interested buyers, with a guide price of $15.5 million. The property, which spans 3½ storeys, sits on a land area of 1,297 sq ft and boasts a gross floor area (GFA) of 4,186 sq ft. This translates to a price of $3,703 psf on the GFA.

Rewritten: When considering a condo investment in Singapore, it is important to take into account the government’s property cooling measures. Over the years, the Singaporean government has implemented several measures to control speculative buying and maintain a steady real estate market. These measures include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may affect the short-term profitability of investing in a Singapore condo, they also contribute to the long-term stability of the market, creating a safer investment environment. Investing in a Singapore condo provides a secure and stable opportunity for investors in the long run.

Map showing location of 93 Tanjong Pagar Road (Source: EdgeProp LandLens)

Located on a 99-year leasehold land, the shophouse is currently designated for commercial use, specifically F&B operations. It is currently tenanted by a popular Korean barbecue restaurant chain on the first and second levels. Also, it is conveniently situated within walking distance from both the Tanjong Pagar MRT Station on the East-West Line and the Maxwell MRT Station on the Thomson-East Coast Line.

The shophouse is being marketed by PropNex Shophouse Elites. Interested buyers are invited to submit their bids through an expression of interest (EOI) exercise, which will close at noon on Jan 20, 2025.

Other notable conservation shophouses that are currently on the market include those on Telok Ayer Street, which are going for a combined price of $42 million. Additionally, a freehold shophouse on Race Course Lane is also up for sale at $8.8 million, while another shophouse on Upper Paya Lebar Road is available for $8.8 million.…