Two freehold adjoining shophouses located at 5 and 7 Jasmine Road, off Upper Thomson Road, have been put up for sale. The guide price set for these two-storey shophouses is $10.5 million, which means a rate of $2,665 per square foot on floor area.

The properties have a total site area of roughly 3,650 square feet, with a combined floor area of around 3,940 square feet. These commercial properties are zoned for “residential with commercial at 1st storey” and come with a gross plot ratio of 3.0 and a building height control of up to four storeys under the 2019 Master Plan.

Located near to the Thomson Plaza shopping mall, the shophouses are accessible via major roads and expressways such as Upper Thomson Road, Lornie Road, Thomson Road, Braddell Road, Marymount Road and the Pan Island Expressway. Moreover, they are just a minute’s walk away from Upper Thomson MRT Station …

At a guide price of $63 million, the owners of a 26-unit walk-up development at 52 to 62H Tanjong Katong Road have relaunched the property for tender. Boasting a land area of about 32,397 ft, the four-storey development offers the potential yield of approximately 45,356 ft of gross floor area upon redevelopment, translating to a land rate of $1,401 psf per plot ratio (psf ppr), including an estimated land betterment charge of approximately $530,000.

This could be lowered to $1,375 psf ppr after factoring in a 7% bonus balcony gross floor area. There is likely to be strong interest from interested parties due to the appealing location in District 15 – just five stops to City Hall Interchange and within a stone’s throw to Paya Lebar Commercial Hub – and proximity to the CBD, Paya Lebar MRT Station, shopping malls and recreational facilities.

The tender closes on May 9 at …

Two conservation shophouses located at 6 and 7 Perak Road have been launched for sale. These two-storey buildings have a built-up area of 5,360 sq ft, sit on a land area of approximately 2,870 sq ft and have 11.4m frontage along Perak Road. With approval for usage as a backpackers’ hostel, the shophouses are well-maintained and only require minimal refurbishment. The guide price of the properties is $13 million, which works out to $2,425 psf.

The properties are well-situated in the Jalan Besar/Little India precinct of District 8, just a three-minute walk to Rochor MRT Station and close to amenities in the Bugis area. This makes them attractive for investors seeking strong rental and capital growth. Gracelynn Zhu of PropNex Shophouse Elites, which is marketing the property, believes that post-pandemic, the shophouses could be an ideal choice for hostel operators tapping into the renewed interest in convenient and accessible accommodation …

Tembusu Grand, the third project by joint venture partners City Developments Ltd (CDL) and MCL Land, was launched on April 8, 2023. Out of 638 units on offer, the developers managed to move 340 units – a take-up rate of 53.3%. The units sold had an average price of $2,465 psf.

Altura EC, Bukit Batok West Avenue 8, is a 99-year leasehold executive condominium project with 375 residential units and a successful tendered bid of S$662 Altura EC sqft ppr by Qingjian Realty and Santarli. Project launch scheduled for Q2 2023.

The buyer profile was quite diverse; 90% of the buyers were Singaporeans while the remaining 10% were made up of Permanent Residents and foreigners from China, Malaysia and the US.

Unit sizes at Tembusu Grand range from 527 sq ft for a one-bedroom plus study to 1,711 sq ft for a five-bedroom, with two penthouses of 2,691 sq ft …

, Tras Link Park, and Skywaters Residences.

HDB is auctioning Altura EC, a Bukit Batok West Avenue Altura EC 8 executive condo, with 375 units and a 99-year lease. Bidding closes on 8 March 2022, offering affordable living close to amenities, MRT station and schools. Winning bidders will benefit from a high yield, estimated at $662 psf ppr.

A key shophouse in the well-preserved Tanjong Pagar conservation area is now up for sale at a price of $20.8 million. Spanning four floors, with an area of 6,460 sq ft, the asking price works out to $3,220 psf. It is made available by private treaty and features an eye-catching 8.8m frontage, setting it apart from other 21⁄2-storey shophouses in the vicinity.

The property has recently been refurbished, with mechanical and electrical systems updated. In 2022, a temporary occupation permit was granted. Czarl Architects’ Carl Lim managed the project, taking care to …

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Sandeep Sethi has been appointed as the Division President of Work Dynamics in Asia Pacific by JLL, a leading name in the real estate sector. He was previously the Managing Director and Head of Work Dynamics for West Asia. With an extended 27 years of experience in the corporate sector, 10 of which were at JLL, Sethi has built and maintained strong customer relationships. He has been responsible for growing the business in West Asia, overseeing over 160 million sq ft of office space in countries such as India, Sri Lanka, Mauritius and Bangladesh.

In his new role, Sethi will now also be supervising JLL’s operations in North Asia, including mainland China and Hong Kong. He will be reporting to Susheel Koul, JLL’s CEO for Work Dynamics in Asia Pacific, at the Gurgaon office.

Koul regards Sethi as an established leader and a customer advisor with extensive knowledge in …

The house at Vanda Crescent has a modern design and an innovative layout (Photo: Albert Chua/EdgeProp Singapore)A recent sale in the neighbourhood serves to demonstrate that the top of the market for landed properties can still be quite resilient. In February, an inter-terrace house on Coronation Road, just off Bukit Timah Road, changed hands for $24.5 million ($2,344 psf).

Altura EC is a 99-year leasehold executive Altura EC condo at Bukit Batok West Avenue 8, projected to house up to 375 units and close to Bukit Batok MRT station, schools, and Jurong Innovation District. Winning bid of $662 psf ppr set by Qingjian Realty and Santarli Construction to be launched in Q2 2023.

Detached houses in Raffles Park landed housing estate on Linden Drive and Vanda Crescent have recently changed hands at two separate transactions. The house on Linden Drive was sold for $24 million, which is calculated to $2,121 …

High-end condos boost average psf pricesA high-end freehold condominium in prime District 10 saw a huge leap in a resale on the 23rd of March. Grange Residences, located on the junction of Grange Road and Tanglin Road, had it’s psf-price record broken with a four-bedroom unit on the 10th floor being sold for $8.58 million ($3,321 psf). This marks the first time in the development’s history for a unit to be sold for more than $3,300 psf.

The unit, sold on March 23, saw the previous record high at Grange Residences smashed, which saw a four-bedroom unit on the 17th floor sold for $8.18 million ($3,170 psf) on September 15 last year. Furthermore, it translates to a $5.73 million profit for the seller, which is also a new record at the development.

Grange Residences is an impressive freehold development, constructed in 2004 by Wharf Estates Singapore (formerly known as Wheelock …

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Investment activity in Singapore’s real estate market got off to a sluggish start in 2023, with only $4.2 billion in recorded sales during the first quarter of the year. This was a marked decrease of 61 percent year-on-year compared to 1Q2022’s $10.8 billion, and the lowest total since 2Q2020, when the government imposed the “circuit breaker” measures at the height of the pandemic, notes Daniel Ding, head of capital markets (land & building, international real estate) at Knight Frank Singapore.

Residential deals in the first quarter totalled $1.6 billion, including the collective sales for Meyer Park, Bagnall Court and Holland Tower, amounting to some $583.8 million. The sale of Holland Tower was the first successful residential en bloc transaction in the Core Central Region (CCR) since property cooling measures were imposed in December 2021, and seemingly points to a fledgling return of interest for prime location development sites upon …

Singapore’s construction sector saw positive growth in the 4th Quarter of 2022, with a 10% year-on-year increase. According to Turner & Townsend, this points to the industry’s strength and stability. The consultancy forecasts the growth continuing throughout 2023 due to pent-up demand for commercial and residential projects, as well as the Singapore Government’s proposed $4 billion National Productivity Fund top-up and Enterprise Innovation Scheme, among other measures.

However, Turner & Townsend cautions that Singapore’s construction sector remains at risk of external challenges such as high inflation and rising interest rates. To combat these difficulties, the consultancy recommends investing in collaborative contracting, which promotes closer consultation among stakeholders.

In support of this effort, the Building and Construction Authority recently refreshed the Built Environment Industry Transformation Map to combine the Construction and Real Estate (Facilities Management) maps. This new value-chain approach, along with embracing new ways of working and technologies, can improve …