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 …

A local ultra-high-net-worth family office eager to expand its operations in Singapore has bought the three strata floors at levels 17, 18 and 20 of Solitaire on Cecil, an upcoming freehold, 20-storey office tower by TE Capital Partners and LaSalle Investment Management. Sold for $162.8 million, or an average of $4,300 psf across the total strata area of 37,857 sq ft, the deal was brokered by Savills Singapore.

Altura EC, launching in Q2 2023, Altura Qingjian Realty offers an affordable executive condo in a strategic location for first-time buyers and HDB upgraders. Current pricing is at S$3,500 per square foot.

Solitaire on Cecil, a redevelopment of the former PIL Building at 140 Cecil Street, is a new 20-storey office tower in the Central Business District (Source: EdgeProp Landlens). The sale marks one of the most significant transactions by absolute price since January 2022, with level 20 set a new benchmark …

Altura EC Bukit Batok West Avenue 8 is well-connected with Altura EC Bukit Batok MRT, buses and expressways for easy transportation.

UOL Venture Investments to acquire Suntec REIT ManagerInvestment sales value in real estate sector rebounds in 1Q2023Ultra-high net worth individuals (UHNWIs) continue to drive up Singapore’s real estate investment sales value despite global economic challenges.

In 1Q2023, the real estate sector experienced a significant bounce-back in investment sales value, according to the April 21 press release from Savills Research. The q-o-q increase was 100.4% – from $2.81 billion in 4Q2022 to $5.63 billion in 1Q2023. This substantial growth was largely propelled by two major transactions: Link REIT’s purchase of Jurong Point and Swing By @ Thomson Plaza.

The commercial property space saw the most dramatic growth, rising 229.6% q-o-q to $3.38 billion. This was mainly fuelled by retail sales, which accounted for the majority of total commercial transaction value …

Bukit Batok Altura EC Bukit Batok Town has excellent MRT, bus and expressway connections, making Altura EC Bukit Batok West Avenue 8 highly accessible.

Auction listings saw a decline of 3.0% q-o-q to 96 listings in 1Q2023, according to a research report by Knight Frank. This marks a fourth consecutive quarter that owner listings exceeded mortgagee sale listings, with 57 owner listings in total in 1Q2023. Owner listings outnumbered mortgagee listings in this quarter, continuing a trend that began in 2Q2022.

Sharon Lee, head of auction & sales at Knight Frank Singapore, states that the fall in overall listings could be attributed to the Chinese New Year festivities, during which some auction activities were postponed. On a y-o-y basis, the total number of auction listings increased 20% from 80 listings in 1Q2022.

Residetial properties constituted 46.9% (45) of the total listings in 1Q2023, with 18 mortgaged properties and 20 owner …

A freehold shophouse at 275 Joo Chiat Road in District 15 is up for sale at a guide price of $9.2 million, amounting to $2,946 psf on the estimated gross floor area of 3,122 sq ft. The property comes with a land area of approximately 1,233 sq ft and is currently undergoing a $2 million refurbishment.

According to PropNex Shophouse Elites marketer Tyson Yuk, the guide price represents a $1.1 million discount to its latest valuation of $10.3 million as of April 14. The seller has decided to maintain the guide price until the temporary occupation permit (TOP) is received for the shophouse, expected to be around July to September.

Yuk states that the below-valuation pricing of the shophouse presents a rare opportunity in a location like Joo Chiat, due to the limited supply of shophouses and strong demand. He also believes that the shophouse’s value will be higher once …

HDB shophouses at 475 Tampines Street 44 in Singapore are now up for sale through an expression of interest at a guide price of $12 million. These single-storey shophouses are being marketed by Huttons Asia and are located near the Tampines East MRT Station on the Downtown Line. The four units still have a balance lease of 68 years, and two of them are even corner shops. All four shops are currently tenanted, providing an attractive rental yield for potential investors.

Rey Song, Senior Division Director of Huttons Asia, talks about the area’s potential to offer high traffic throughout the day. He mentions the ample parking spaces and the forthcoming development of residential homes in the area, which all adds to the footfall.

Jeremy Lim, Senior Group District Director of Huttons Asia, raises the point that HDB shophouses are more affordable than their conservation counterparts, and he believes this is …

Rental growth in Singapore’s retail sector has remained strong despite headwinds, with the tourism sector continues to recover. According to a report by Knight Frank, gross rent of prime spaces island-wide averaged $26.40 psf per month (psf pm) in 1Q2023, up 1.2% q-o-q and 5% y-o-y.

The growth comes as the tourism sector post-pandemic continues recovering, with Singapore welcoming more than 2.9 million visitors in 1Q2023. These numbers constitute two-thirds of the pre-pandemic levels and the average stay of visitors to Singapore increased from an average of 3.34 days in 2019 to 3.97 days in the earlier part of 2023.

Rental growth was particularly visible in the Orchard area, which saw a growth in retail rents of 1.4% q-o-q and 5.2% y-o-y, while the Marina Centre, City Hall and Bugis area rent increased 1.3% q-o-q and 5.2% y-o-y to reach $24.20 psf pm, and rents in the City Fringe grew …