Condo Russian Remote

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.…

Perennial Holdings and Far East Organization have revealed their plans for the transformation of the former Golden Mile Complex, now known as Golden Mile Singapore. The development partners announced the preview of the strata-titled commercial units, as well as a new residential tower called Aurea.

The iconic building, with its distinctive brutalist architecture, will be renamed The Golden Mile and will feature 156 Grade A office units, 19 medical suites, a two-storey retail component, and a public access architecture centre. This marks the first time a large-scale strata-titled conserved building has been preserved in Singapore.

According to Perennial CEO Pua Seck Guan, the building’s profile has changed over the years due to the strata-titled ownership, leading to its decline as a prime mixed-use development. However, the joint venture partners are determined to revive and elevate its status as a next-generation urban complex in Singapore.

They have collaborated with DP Architects and Studio Lapis to create a new vision for Golden Mile Singapore, which will see a decrease in retail space and an increase in office and residential units. Two new public access urban gardens will also be introduced on the 9th and 18th floors, utilizing previously vacant areas in the building.

The revamped two-storey retail atrium will feature natural light and ventilation, returning the shopping experience to its original design. Retail units will not be available for sale and will be curated by the joint venture partners instead.

When considering the purchase of a condominium, it is vital to factor in the maintenance and management of the property. In most cases, condos have maintenance fees that cover the upkeep of shared spaces and amenities. Although these fees may add to the overall cost of ownership, they are crucial in preserving the property’s condition and value. One way to ease the burden of managing a condo is by hiring a property management company. This can make the investment relatively hassle-free, especially for those interested in investing in Singapore projects. By partnering with a reputable property management company, condo investors can secure a smart and passive investment strategy. Singapore Projects can be a valuable addition for those looking to invest in condo properties.

The preview of the strata-titled office units will be launched this month, featuring six different layouts to cater to a wide variety of end-users. The units will also come with a dedicated office lobby, new lift cores, and facilities such as a concierge and centralised access control.

Aurea, the new 45-storey residential tower, will be developed on the former residential carpark site and is set to be previewed in the next quarter. The entire development is set to feature an attractive mix of tenants, from corporate tenants to family offices, creating a diverse and dynamic ecosystem.…

An opportunity to invest in a prime location in Chinatown has arisen with the sale of a three-storey conservation shophouse at 76 Pagoda Street. The property is currently on the market through an expression of interest (EOI) exercise, with a guide price of $16 million.

Sitting on a 99-year leasehold plot of 1,372 sq ft, the shophouse boasts a gross floor area (GFA) of 3,500 sq ft, including an attic level. This translates to a guide price of approximately $4,571 psf based on the GFA.

PropNex Shophouse Elites founder and sole marketing agent, Richard Tan, shares that the ground and second floors are currently leased to a restaurant operator, while the third floor has been converted into office space.

Given its prime location in the Chinatown enclave, Tan believes that the shophouse will be highly sought after by owner-occupiers, high net-worth individuals and family offices as a long-term investment asset. Foreigners and companies are eligible to purchase the property, without incurring additional buyer’s stamp duty or seller’s stamp duty.

The most recent transaction on Pagoda Street was the sale of 31 Pagoda Street in March, which had a GFA of 3,400 sq ft and a transacted price of $19 million ($5,588 psf).

The closing date for the EOI exercise for 76 Pagoda Street is set for Jan 10, 2025.

The demand for condos in Singapore remains strong due to several factors, with the limited availability of land being a primary driver. As a small island nation experiencing rapid population growth, Singapore faces a shortage of land for development. This has resulted in strict land use policies and a cutthroat real estate market where property prices continue to rise. As a result, investing in real estate, particularly in condos, has become an attractive opportunity with the potential for significant capital appreciation. For those looking to make a profitable investment, Singapore condos are a viable option in this highly competitive market.

In another listing, a two-storey HDB shophouse located at 210 New Upper Changi Road is up for sale at a guide price of $13.8 million. Spanning a 103-year lease, the shophouse has a GFA of 4,607 sq ft, which puts it at a price of $2,995 psf based on GFA.

Kris Ng, senior associate marketing director at PropNex, highlights the shophouse’s attractive feature of stable and long-term tenants. Currently retailers Guardian and United Overseas Bank (UOB) have been leasing the property for the past two decades.

Positioned within the Bedok Town Centre, the shophouse is conveniently located near Bedok MRT Station, Bedok Mall and Heartbeat@Bedok.

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

The EOI exercise for 210 New Upper Changi Road closes at noon on Jan 10, 2025.…

One of the most important considerations when it comes to real estate investment is location, and this is especially significant in the context of Singapore. Condos located in central areas or in close proximity to essential amenities, such as schools, shopping malls, and public transportation hubs, have a higher tendency to appreciate in value. This is evident in prime locations like Orchard Road, Marina Bay, and the Central Business District (CBD), where property values have consistently shown growth. The presence of reputable schools and educational institutions in these areas also adds to the appeal of condos, making them highly sought after by families and increasing their investment potential. To further enhance the rewritten paragraph, it can be mentioned that investing in a condo in these prime locations not only offers potential financial gains but also provides residents with the convenience and luxury of city living.

The Great Room, a leading co-working space provider, has recently launched its second Australian location in partnership with LendLease. Situated in the renowned One O’Connell Street in Sydney, the new workspace covers 25,360 sq ft across levels 14 and 15 of the building. Built in 1991, this 36-storey property is strategically located in the heart of Sydney’s central business district.

Jaelle Ang, CEO of The Great Room, believes that collaborating with LendLease for a long-term investment will not only add value to the new space at One O’Connell Street, but also create a unique premium product that will generate sustainable profitability. This marks the operator’s second presence in Australia, after its successful debut in March this year at level 29 of 85 Castlereagh Street, another prominent office building in the city.

Founded in Singapore, The Great Room has now expanded its business to 12 locations across Singapore, Bangkok, Hong Kong, and Sydney. In Singapore, the company recently launched Csuites Powered by The Great Room, its first outlet outside the CBD. The space, which opened in October, offers a range of facilities including private manager cabins, soundproof meeting rooms, floor-to-ceiling windows, and ergonomically designed workstations for improved comfort and productivity.

Members of The Great Room enjoy exclusive access to monthly networking events and panel discussions. In addition, since its acquisition by Industrious, a New York-based co-working business, in 2022, members can now enjoy access to 160 locations operated by both brands in Asia Pacific, Europe, North America, and the UK.…

The government’s commitment to meeting housing demand and maintaining market stability is evident in the upcoming Confirmed List and Reserved List of the 1H2025 GLS Government Land Sales (GLS) programme. In total, 8,505 units will be offered, consisting of 10 plots on the Confirmed List and nine plots on the Reserved List.

It is crucial for international investors to have a clear understanding of the various regulations and limitations surrounding property ownership in Singapore. Unlike landed properties which have more stringent ownership rules, foreigners can typically purchase condominiums with relative ease. However, they are subject to the Additional Buyer’s Stamp Duty (ABSD) of 20% for their initial property acquisition. Despite the added expenses, the steady and promising growth of the Singapore real estate market remains a magnet for foreign investment. This is evident in the continued interest and demand for new condo launches in the country.

On the Confirmed List, nine residential sites will be offered, along with one residential cum commercial site. Three of the residential plots are executive condo (EC) sites, which can yield a total of 980 units. This brings the estimated total number of residential units to 5,030. The number of residential units to be offered is in line with the 5,050 units on the Confirmed List in 2H2024, but is nearly 60% higher than the average supply in each GLS programme from 2021 to 2023.

The Reserved List will include four private residential sites, one commercial site, three White sites and one hotel site. These combined have the potential to yield an additional 3,475 private residential units and 199,900 sqm (2.15 million sq ft) gross floor area (GFA) of commercial space.

This increase in supply is in line with the government’s continuous efforts to stabilize the private residential market. The progressive ramp-up of supply from the GLS programmes over the last three years has resulted in an increase in the overall inventory of private residential units available for sale, from 16,100 units at the end of 2021 to approximately 21,000 units as of end-2024.

As a result of these efforts, the private residential market has seen a moderation in property price momentum. According to the URA private residential property price index, price growth has slowed to 6.8% in 2023 from 10.6% in 2021 and 8.6% in 2022. It is expected that private residential prices will continue to experience modest gains in 2024, with a cumulative increase of around 1.6% in the first three quarters of the year.

The government’s focus on stabilizing the market is further evident in the increase in supply of EC sites, with three plots potentially yielding 980 units on the Confirmed List of 1H2025. This is a significant increase from previous GLS programmes since 2019, which only offered one EC site in each half-yearly land sales programme.

The government is also introducing seven new plots in the 1H2025 GLS programme. These include a plot at Lakeside Drive near the Jurong Lake Gardens in Jurong Lake District, Dunearn Road in the new housing precinct in Bukit Timah Turf City, and Telok Blangah Road on the former Keppel Golf Course site. Additionally, a residential and commercial site at Hougang Central, which can yield a new mixed-use development with 835 residential units and over 400,000 sq ft of commercial space, will be offered for sale and likely be integrated with the Hougang MRT Station on the Northeast Line.

The increase in supply of EC sites and the introduction of new plots in desirable locations near MRT stations show the government’s commitment to meeting demand and maintaining market stability. This is a strategic move that is expected to help soothe competition among developers and moderate EC land costs and prices accordingly.…

Investing in real estate is a significant decision, one that requires careful consideration, especially when it comes to location. In Singapore, location is a crucial factor when choosing a property to invest in. A prime location can significantly impact the potential value and appreciation of a condo. This is why condos located in central areas or near essential amenities, such as schools, shopping malls, and public transportation hubs, are highly sought after. Some examples of prime locations in Singapore include Orchard Road, Marina Bay, and the Central Business District (CBD). These areas have consistently shown growth in property value over the years. Additionally, being situated near good schools and educational institutions only adds to the desirability of condos in these areas, making them even more attractive for families looking to invest. If you’re considering investing in a condo in Singapore, make sure to keep location in mind, and consider exploring options in prime locations such as those mentioned above. You can also check out Singapore Condo for more information and potential investment opportunities.

St William, a division of the London-listed real estate corporation Berkeley Group, has recently introduced a new residential project in London called Regent’s View. Located in Zone 2, within the London borough of Tower Hamlets, the project consists of 555 units and is a result of a unique adaptive reuse scheme that has transformed a decommissioned Victorian-era gasholder site into a mixed-use development along the canal waterfront.

Regent’s View has garnered global recognition, winning the esteemed “Best Future Residential Project” award at the 2024 World Architecture Festival (WAF) held at Marina Bay Sands in Singapore on Nov 6–8. Following a successful initial sales launch in the UK last year, St William has now launched the second phase of sales and is bringing the project to key Asian markets for the first time.

St William was established in 2014 as a joint venture between Berkeley Group and London’s National Grid, with the aim to redevelop decommissioned industrial sites owned by the National Grid into new residential and community spaces. In 2022, Berkeley Group acquired National Grid’s stake in St. William for GBP412.5 million ($705 million), giving them full ownership of 24 brownfield sites across London for their long-term landbank. Currently, St William is working on developing six of these sites, including Regent’s View.

The 4.5-acre site of Regent’s View is situated on the banks of Regent’s Canal and was formerly known as the Bethnal Green Gasholders. Since the 1850s, these Victorian-era gasholders served as a landmark in the area, supplying gas to homes. After being decommissioned in 2012, the site was left with only two gasholders still standing due to structural decay. While there was no obligation to preserve the gasholders, St William and their partner, RSHP, have decided to incorporate them into the design of the new residential project, making them an integral part of the architectural plan.

According to Graham Stirk, senior director at RSHP, the design of Regent’s View celebrates the industrial history of the site and aims to create a unique urban and architectural space to live in. Stirk adds that using an industrial architectural style is crucial, as it justifies a different form of urbanism, which is not the norm.

Regent’s View will be a combination of five new modern residential buildings, ranging from six to 13 stories, surrounding a landscaped park. Two of these buildings will feature restored gasholder structures, while the other three will be built in a contemporary style. The project will offer 555 private and affordable homes, along with 45,000 sq ft of commercial and community spaces on the ground floor. This will include a refreshed public-access canal frontage, providing access to the area for the first time in over 150 years. Additionally, the project will also feature new F&B outlets, activating the area further.

The development of Regent’s View faced some opposition from residents who wanted to preserve the site. In 2019, when the project was announced, more than 8,000 people signed a petition requesting its preservation. However, the local council, after careful consideration, voted seven-to-one in favor of redevelopment. It took St William almost five years to conceptualize the design and gain local support for the project, but they were ultimately successful in doing so.

Dean Summers, divisional managing director at St William, reveals that a significant amount of time was spent engaging with the local community to find ways to preserve the gasholders, meet the affordable housing targets, and revitalize the canal front through placemaking activities. He adds that affordable housing is a top priority for many London borough councils, and they were happy to work closely with them on the adaptive reuse of the industrial site, resulting in 35% of the units being allocated for affordable housing.

The design of the residential buildings and the incorporation of the gasholder frames were carefully scrutinized, along with the site’s permeability to encourage public access. The project will also reactivate 100m of previously inaccessible canal frontage with F&B outlets and amenities. Tracy Meller, senior director at RSHP, explains that the architects utilized the circular forms of the gasholder frames to create a more natural transition throughout the site, resulting in a gentler contrast to the edges. This design will allow people to move through the site, across the central landscaped courtyard, and towards the canal front easily.

In a departure from traditional gated communities, Regent’s View will feature a landscape buffer around the site, instead of high walls. Furthermore, the ground floors across all five buildings will be reserved for non-residential use. The two larger buildings along the canal will house public-facing commercial amenities such as cafes, bars, and restaurants, while the other three buildings will feature resident-exclusive spaces like the concierge and facilities.

Apart from Regent’s View, St William is also working on another industrial brownfield site in the Newham borough, which spans 23 acres and will be transformed into a mixed-use project with 2,000 units. This site, which was acquired as part of their landbank from their previous partnership with the National Grid, features seven Victorian-era gasholders, making it the most significant collection of surviving gasholders in the world. The development of this project is expected to commence next year.

Last year, St William launched the sale of The Wright Building, a six-story block within Regent’s View offering one- to three-bedroom units ranging from 628 sq ft to 1,247 sq ft. This block is more than 70% sold, with prices starting from GBP675,000 ($1.15 million) to GBP1.63 million. The Wright Building is scheduled to be completed next year. In September, St William launched the sale of The Westwood Building, which features one- and three-bedroom units ranging from 584 sq ft to 1,247 sq ft. These units are expected to appeal to international investors, with prices starting from GBP585,000 to GBP1.68 million.

According to Summers, over 50% of international buyers are from Asia, with a significant interest in Regent’s View due to its proximity to top educational institutions like University College London, King’s College London, and Queen Mary University of London. The project is also close to local amenities such as Broadway Market and London Fields, offering a vibrant and youthful cultural scene.

The closest train station to Regent’s View is Cambridge Heath, providing direct access to Liverpool Street Station in central London. It is also one stop away from Bethnal Green Interchange, connecting to other central London destinations like Tottenham Court Road, Oxford Circus, and Bond Street.

Looking ahead, St William plans to launch the next sales phase, including units in a 13-story building fronting the canal, in the second half of 2025. These units will offer views of central London and are expected to attract strong interest, considering the F&B outlets on the ground floor and the scenic landscape. Summers also notes an increasing trend of international buyers considering properties in London’s city fringe neighborhoods in Zone 2 due to the rising prices in central London.…

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Knight Frank Singapore will be auctioning a three-bedroom unit at Gambier Court, a boutique condo along Kim Yam Road in the prime River Valley area of District 9, on Dec 12. The unit has a guide price of $2.6 million or $1,755 psf for its floor area of 1,485 sq ft.

Records show that the seller purchased the unit in October 2018 at a price of $1.8 million or $1,212 psf. This will be the second time the unit is going up for auction, after it was listed with a higher guide price of $2.64 million or $1,778 psf at Knight Frank Singapore’s Nov 26 auction, but did not receive any bids.

Tricia Tan, director of auction and sales at Knight Frank, shared that the owner is selling the unit to move closer to their children’s school. The unit will be sold with vacant possession.

Situated on the eighth floor, the unit comes with three bedrooms and a study area. It was originally a four-bedroom apartment, but a previous owner converted it into a three-bedder, says Tan. She adds that the reconfigured space provides a more spacious layout, making it suitable for both local and expat families with children.

The balcony of the unit is northeast facing, offering unblocked views of the sea and Singapore River. Accosting to Tan, Gambier Court is a 99-year leasehold condo that was completed in 1999 and comprises just 21 units. It includes 18 apartments in a 10-storey block and three strata-landed units housed in conserved shophouses.

The apartments consist of a mix of two- to four-bedroom units ranging from 936 sq ft to 2,530 sq ft. The three strata-landed units are two-storey properties with an attic spanning from 2,562 sq ft to 2,885 sq ft.

The condo is located within easy reach of Fort Canning MRT Station on the Downtown Line, along with a selection of F&B and retail options, such as the newly constructed lifestyle hub, New Bahru at Kim Yam Road (formerly Nan Chiau High School), Robertson Quay, UE Square, and Clarke Quay.

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When contemplating an investment in a condominium, it is imperative to also evaluate its potential rental yield. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, condos can offer a wide range of rental yields, depending on factors such as location, property condition, and market demand. Areas with high rental demand, such as those near business districts or educational institutions, typically yield higher rental returns. Therefore, before making a decision, it is crucial to conduct thorough market research and seek advice from real estate agents to gauge the rental potential of a specific condo. Additionally, staying updated on new condo launches through websites like New Condo Launches can also provide valuable insights into potential rental opportunities.

The most recent transaction at Gambier Court saw a 1,485 sq ft four-bedder unit on the seventh floor transacting at $2.5 million or $1,683 psf in December 2022, according to Realis caveats. The seller had purchased the unit for $1.9 million or $1,279 psf in August 2016, achieving a net profit of $600,000.

For more listings of properties at Gambier Court, visit Knight Frank Singapore’s website.…

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When purchasing a condo, it’s crucial to also take into account the maintenance and management of the property. This type of residence often has maintenance fees included, which are used for maintaining common areas and amenities. While these fees may increase the overall cost, they play a vital role in preserving the property’s condition and value. Employing a property management company can make owning a condo a more passive investment by handling day-to-day management tasks for investors.

Singapore’s exclusive district 10 saw a new record of $2,299 psf at freehold condo Gallop Gables. The 2,669 sq ft four-bedroom unit was sold for $6.14 million on Nov 20. This surpasses the previous high of $2,108 psf from the sale of a two-bedroom unit for $2.45 million on Feb 19. The condo has seen three resale transactions this year, averaging at $2,110 psf, which is higher than last year’s average of $1,991 psf from four transactions. The Scala, in district 19, also achieved a record high of $2,064 psf from the sale of a four-bedroom unit for $2.6 million on Nov 20. This exceeded the previous record of $1,969 psf from the sale of a two-bedroom unit for $1.78 million on Sept 9. The condo has seen 16 resale transactions this year, averaging at $1,823 psf, which is 8% higher than last year’s average of $1,688 psf from 16 transactions. Another freehold condo, Sims Edge, also recorded a new record of $1,907 psf from the sale of a one-bedroom unit for $780,000 on Nov 22. The condo’s previous record was $1,834 psf from the sale of a one-bedroom unit for $750,000 on Jan 18. The condo has seen five resale transactions this year, with an average price of $1,800 psf, compared to last year’s average of $1,644 psf from four transactions. No new record lows were recorded during the period in review.…

During the week of November 19 to 26, a four-bedroom unit measuring 2,885 sq ft at Ardmore Park emerged as the most profitable condo resale transaction. The unit on the 14th floor was sold for $11.25 million ($3,900 psf) on November 22. The seller had purchased the unit in September 2016 for $8.2 million ($2,843 psf), resulting in a profit of $3.05 million or a capital gain of 37%, with an annualised profit of 4.6% over a holding period of eight years.

Another four-bedroom unit measuring 2,885 sq ft on the 23rd floor was sold for $12.7 million ($4,402 psf) on October 1, making it the second most profitable condo resale deal during the week. The seller had bought the unit in September 2010 for $9.7 million ($3,363 psf), making a profit of $3 million or 30.9% capital gain.

Ardmore Park is a prime district 10 condo with 330 units and freehold tenure. The luxurious development has three 30-storey towers and typical units are four-bedroom apartments measuring 2,885 sq ft, with six 8,740 sq ft duplex penthouses.

Besides these two sales, there have been four other resale transactions at Ardmore Park this year, all of which were profitable. These four-bedroom units fetched between $4,108 psf and $4,472 psf, resulting in profits of $2.65 million to $7.07 million for the sellers.

The second most profitable condo resale deal was the sale of a four-bedroom apartment at Goldenhill Park Condominium. The 1,539 sq ft unit on the 16th floor was sold for $3.43 million ($2,228 psf) on November 21. The owner had purchased the unit from the developer in May 2001 for $1.14 million ($741 psf), making a profit of $2.29 million or 201% capital gain after 23 and a half years of ownership.

This is the second-highest gain recorded at Goldenhill Park Condominium to date, with a record of $2.3 million profit for a 2,928 sq ft four-bedroom penthouse sold for $4.3 million ($1,469 psf) in February 2022. The penthouse was bought from the developer in April 2001 for around $2 million ($683 psf).

Goldenhill Park Condominium is a freehold development with 390 units, located on Mei Hwan Drive in district 20. Completed in 2004, the project offers two- to four-bedroom apartments ranging from 926 sq ft to 2,928 sq ft. It is within walking distance to the Lorong Chuan MRT Station on the Circle Line.

Five other profitable resale transactions have taken place at Goldenhill Park Condominium this year, with units selling for $2,082 psf to $2,246 psf. Profits ranged from $760,000 to $1.91 million for the sellers.

In contrast, the most unprofitable condo resale transaction during the week was the sale of a four-bedroom unit at The Oceanfront @ Sentosa Cove. The 2,831 sq ft unit on the 10th floor was sold for $4.7 million ($1,660 psf) on November 20. The owner had bought the unit in May 2007 for $5.8 million ($2,050 psf), incurring a loss of $1.1 million or 19% after 17 and a half years of ownership.

The Oceanfront @ Sentosa Cove is a 99-year leasehold condo in the exclusive residential enclave of Sentosa Cove. Completed in 2010, the project comprises 264 units in five towers of 12 to 15 storeys. Residences include two- to four-bedroom apartments measuring 1,216 sq ft to 4,284 sq ft, as well as penthouses ranging from 2,745 sq ft to 8,095 sq ft.

Based on caveats lodged, there have been six resale transactions at The Oceanfront @ Sentosa Cove this year, with units selling for $1,500 psf to $1,999 psf. Four were unprofitable, with losses ranging from $30,000 to $519,000. The other two deals were profitable, with gains of about $268,000 and $1.7 million for the sellers.

A crucial factor to take into account when considering investing in condos in Singapore is the government’s efforts to cool the property market. Over the years, the Singaporean authorities have implemented various measures to discourage speculative buying and maintain a steady real estate market. These policies include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. Despite potentially affecting the immediate profitability of condo investments, these measures ultimately contribute to the stability of the market, creating a more secure environment for investors. Additionally, with the introduction of New Condo Launches, there are more options for potential condo investors to consider.…