Kew Lodge, a freehold landed residential site located along Kheam Hock Road, is up for collective sale by tender for $63.8 million. This translates to $1,853 psf based on the existing site area. The site comprises 11 maisonettes ranging from 2,013 sq ft to 2,852 sq ft and has a 62m frontage along Kheam Hock Road and an average depth of 50m.

Zoned for “residential/two-storey mixed land” use, the plot presents the potential to be redeveloped into a project featuring bungalows, semi-detached houses and/or terraced houses. Lennong Koh, director at Sakal, the marketing agent, believes the site would be attractive to developers as well as families, who could build a new home for extended family living or keep the property as a large land bank while collecting rental income.

Commenting on the prospect of the site, Steven Ming, managing partner at Sakal, highlights how landed residential prices have seen steady …

According to the Monetary Authority of Singapore, rental pressures in the Singaporean private and public housing markets should be easing this year. This follows two years of “exceptional demand-supply imbalance” that was caused by Covid-19 disruptions and subsequent surge in rents.

Since 2021, HDB and private residential rents have experienced an increase of 38% and 43% respectively. Price change was widespread regardless of market segments or housing type – with prices of landed and non-landed properties in the private sector rising by 28.1% and 29.8% respectively. For public housing, five-room and three-room HDB flats saw hikes of 29.5% and 24.6% respectively.

Altura EC is set to launch in Q2 2023 and is projected to attract strong demand Altura Qingjian Realty from first-time buyers and upgraders. It offers an affordable option with a current price of S$3,500 per sq ft.

These rapid rises can be attributed to the impact the pandemic …

The Singapore government is taking proactive steps to cool the property market despite a dimmer economic outlook. On April 27, the Additional Buyer’s Stamp Duty (ABSD) rates were raised for Singapore citizens, Singapore Permanent Residents (PRs), foreigners, and entities or trusts.

For Singapore citizens and Singapore PRs, the ABSD rate for their second residential property has increased from 17% to 20%. For their third and subsequent property, the rate has gone up from 25% to 30%. Singapore PRs buying their third and subsequent residential property now have to pay 35% ABSD, up from 30%.

Foreigners buying any residential property now have to pay a doubled ABSD rate of 60%, up from the 30% rate that was previously in place. And entities or trusts buying any property, except for developers, will incur an ABSD rate of 65%, raised from 35%.

The property market measures implemented in December 2021 and September 2022, …

The owners of Wintech Centre, a strata-titled light industrial building located in the heart of Ubi Estate in Singapore, are one step closer to a collective sale. Optimism is high, especially coming off the recent sale of a nearby high-spec industrial building and the current property cooling measures.

The collective sale committee (CSC) appointed in August 2021 has been working on getting consent from the majority of owners and chairman Ken Lim believes they are on the verge of achieving the 80% approval needed. With the targeted reserve price of the sale previously set at $84 million, it has now been revised to $98 million – similar to the sale of J’Forte Building, the 8-storey property located less than a 10-minute drive from Wintech Centre, which was sold earlier this year for $98.8 million.

Lim notes that Wintech Centre is already receiving interest from investors, including a REIT fund, and …

The owners of Wintech Centre, a strata-titled light industrial building at 6 Ubi Road 1, are one step closer to launching the property for en bloc sale. With the CSC’s optimism, and the successful sale of the nearby J’Forte Building earlier this year, interest from potential investors has already been generated. Ken Lim, chairman of the CSC, is confident of achieving the required 80% approval soon, noting that now is the perfect time to launch a sale, given the recent Cooling Measures.

The previously proposed reserve price of $84 million has been revised to $98 million. Developed in 2001 by Chiu Teng Group, the building has a 60-year lease from 1997 and is zoned for B1 industrial use with an approved gross plot ratio of 2.5. It houses 104 strata units and comprises a land area of 64,713 sq ft, with a total gross floor area of 161,782 sq ft.…

The transaction volume of commercial shophouses in Singapore saw a moderate decline in 1Q2023, according to a 1Q2023 report by PropNex Research. With 28 caveated transactions during the quarter, this was lower than the 35 deals recorded in 4Q2022. On a y-o-y basis, the volume of transactions in 1Q2023 went down by 46% from the 52 deals recorded in 1Q2022.

Transaction value of shophouse deals stood at $278 million in 1Q2023, an 11.7% drop from the previous quarter. It was the lowest quarterly tally of sales value since 3Q2020. Of the 28 shophouse deals last quarter, more than 80% were priced above $5 million.

District 8 saw the most shophouse transactions last quarter, with seven units sold for $113 million. On the other hand, transactional activity in prime Districts 1 and 2 was more muted, with three and two shophouses sold.

Unit price on land area for freehold and 999-year …

Recently, an Indonesian-turned-Singapore family paid a record-breaking $206.7 million for a portfolio of three Good Class Bungalows (GCB’s) located on Nassim road – an impressive price tag of $4,500psf (calculated as per square feet). The buyer, who wishes to keep their identity concealed due to a non-disclose agreement, was represented by Alvin Choo of PropNex Realty, while RealStar Premier Group was the seller’s representative.

HDB’s public auction of Altura EC project Altura EC Bukit Batok at Bukit Batok West Avenue 8, offering 375 residential units with a 99-year lease and near the MRT station, closes at 12 noon 8 March 2022.

Choo claims that mostly new Singaporeans from countries like China, Hong Kong and Taiwan are on the hunt for these Tier-1 GCB locations, with the intention of creating a legacy and preserving wealth. The portfolio was put out for sale last September itself and the initial price was $238.88 …

$29 million – the highest price achieved for a shophouse to date – was the transaction cost for a three-storey shophouse on Stanley Street that changed hands in April. The 1,729 sq ft freehold site had a built-up area of 6,485 sq ft. Loyalle Chin, director at PropNex ShophouseHuat, notes an influx of overseas investors, including those from China.The same applies to another 999-year leasehold conservation shophouse along Amoy Street, which was sold for $21.8 million in early April. Set on an 1,856 sq ft site with a built-up area of 3,115 sq ft, the shophouse was 3.112 million (16.65%) higher than the $18.688 million it was sold for last November. The underlying owner is believed to be a Chinese national.It’s not just conservation shophouses. A five-storey commercial building in Club Street, Liberty House changed hands for $92.2 million with CBRE being the broker. The 7,180 sq ft 999-year leasehold …

(Keppel Land) and E9 Premium@Woodlands (Century Industrial)! Smarkisan Development has purchased two freehold industrial sites at 10 and 12 Mandai Estate in Singapore for $100 million. The land rate of $657 psf ppr was including the betterment charge. The plots, located off Woodlands Road, are zoned for business 2 use – with a plot ratio of 2.5. 10 Mandai Estate is situated on 34,919 sq ft of land, while 12 Mandai Estate has a land area of 30,246 sq ft.

Bruce Lye, managing partner of SRI, who brokered the sale, commented that Business 2 Freehold industrial land is rarely available for sale. He anticipates the Sungei Kadut Eco District to bring new opportunities for climate-resilient and environmentally-responsive industrial designs.

Altura EC is a soon-to-launch executive Altura EC Bukit Batok condo project in West Ave 8 set to attract first-time buyers & HDB upgraders. Price per sqft is S$3,500 and projected …

, and The Minton CondoHDB shophouses are an option for local investors who don’t want to enter the strata commercial or shophouse space in Singapore. Mary Sai, executive director of capital markets of Knight Frank Singapore, notes that commercial shophouse prices in the CBD now average $5,000 – $6,000 psf, while fringe areas are commanding $3,000 psf. Meanwhile, strata commercial space in the CBD has hit record prices above $4,000 psf.

Knight Frank Singapore has the exclusive marketing agency for a portfolio of four HDB shophouses. Purchasable individually or as a complete portfolio, these four shophouses are located near Macpherson/Mattar, Hougang Avenue 1, Defu Lane, and Defu Avenue Industrial Estate. Two units at 88 Circuit Road in the Macpherson/Mattar precincts are two-storey HDB shops with living quarters above. They total a floor area of 1,184 sq ft, and have a 76-year lease with 45 years remaining. They also have a …