Three-bedder at Casabella sold for $1.69 mil gain

At Casabella, located on Duchess Avenue in prime District 10, the most profitable condo resale transaction was recorded the week of April 25 to May 2. The 1,292 sq ft, three-bedroom unit fetched $2.66 million ($2,059 psf) on April 27 – a gain of $1.69 million (173%) for the seller over a nearly 18-year holding period, setting a new psf-price high for the development.

This marks the third most profitable resale transaction for the development. In July 2019, the most profitable transaction occurred when a 3,079 sq ft unit was sold for $3.41 million ($1,108 psf), netting the seller a $1.79 million gain. The second most profitable transaction happened in April 2018, when a 3,552 sq ft unit was sold for $4 million ($1,126 psf), making the seller a profit of $1.72 million.

It is estimated that construction could start in 2022 and the project could be completed by 2027. …

Keppel launches Keppel South Central commercial building in the CBD

Keppel South Central is a 33-storey commercial tower located at Tanjong Pagar within the Greater Southern Waterfront. Just a short walk away from Tanjong Pagar MRT station and the upcoming Prince Edward Road MRT station, the building is set to open in 4Q2024.

Designed by the global architecture firm NBBJ, this new-generation building showcases several next-level features for a modern workspace, such as facial recognition access, smart lighting, micro-zoned air-conditioning systems, 5G connectivity and more. There is a diverse range of communal F&B offerings and amenities, from a double-storey rooftop restaurant and bar, to event spaces, a gym and sleeping rooms.

In order to be sustainable and environmentally friendly, Keppel South Central has been awarded the BCA Green Mark Platinum Super Low Energy Award. The building has several green features such as a high-performance facade system, rainwater harvesting systems, smart building management and renewable energy. Once completed, the building’s EUI …

Freehold industrial land at Kim Chuan Lane for sale at $43 mil

A guide price of $43 million has been set for a 15,761 sq ft, freehold industrial property located at 7 Kim Chuan Lane. The site is zoned business 2 (industrial) at a plot ratio of 2.5, and is also accessible via Upper Paya Lebar Road.

The location of this property is attractive as it is in close proximity to the headquarters of BreadTalk, Charles & Keith and Sakae Sushi, and is also near the Tai Seng MRT station on the Circle Line.

This newly developed residential property will feature an array of modern amenities such as a pool, jacuzzi, fitness centre, and a clubhouse. CLD is also looking to further enhance the living experience of J’Den Condo by adding green spaces for its residents. This would include an organic farm, which is definitely a plus for the environment. With its prime location, top-notch amenities, and green spaces, it is no …

The REAL deal: Is Singapore property tax hike a boon for Malaysia?

J’Den Condo, a new residential and commercial development within the Jurong Lake District, is slated to open soon. With direct access to the Jurong East MRT interchange and other amenities like Westgate and IMM Building via J’Den‘s covered elevated pedestrian network, J’Den Condo is well connected to essential services. Additionally, the condo will be linked to the Jurong East Integrated Transport Hub which includes a bus interchange, public library, community club and a sports centre. As such, J’Den provides numerous conveniences for its tenants.

Foreigners purchasing real estate in Singapore are now subject to an increased rate of Additional Buyer’s Stamp Duty (ABSD), following the Singapore Government announcement of April 26, 2023. Those looking to buy their second residential property now face up to 60% ABSD, with Singapore citizens and permanent residents facing a lesser, though still hefty, tax. Singaporean citizens buying their second residential property face a tax …

Residential shophouse on Niven Road for sale at $5.2 mil

The expression of interest (EOI) exercise for a freehold conservation shophouse at 31 Niven Road in the Mount Sophia area of District 9 is offering a rare opportunity for buyers and investors. With a guide price of $5.2 million and an attractive price of $4,163 psf for the land area, the two-storey property has been newly renovated, boasts an open-concept living and dining area, two en suite bedrooms, and a family area, as well as a courtyard. The property is expected to garner strong interest, with prices for residential shophouses on the rise in recent years and the potential for capital appreciation over the long term, despite the property sited on land designated for residential use. Huttons Asia is handling the exercise, which will close on June 6 at 4pm.

Amidst the rising prices of landed residential properties in the last five years, 31 Niven Road, a freehold conservation shophouse …

HDB changes housing grant disbursements, increases income assessment period

HDB’s changes to income and eligibility assessment processes and the introduction of the new HFE letter come on the back of the introduction of new construction and design standards for HDB flats in February 2023.HDB has announced changes to its processes for assessing flat buyers’ eligibility and incomes effective May 9. The changes include the introduction of a new HDB Flat Eligibility (HFE) letter that informs buyers upfront their eligibility for a new or resale flat purchase, and the amount of HDB housing loan and CPF housing grants they can obtain.Eligible housing grants will now be split equally between applicants and occupiers in all core nuclei, regardless of if they are Singaporean citizens or PRs. This means in a household of a Singaporean and a PR, both will get half the amount of the grant.Previously, the full amount was only given to the flat applicant, who had to be a …

Cushman & Wakefield CEO John Forrester to retire, succeeded by current COO

John Forrester is set to retire from his role as CEO of Cushman & Wakefield at the end of June after 35 years with the company. Michelle Mackay, currently President and COO, has been appointed to succeed him, taking effect on July 1, and will join the firm’s board of directors. Meanwhile, Andrew McDonald, President of Cushman & Wakefield, has been promoted to global President and COO, overseeing all of the firm’s service lines and regions.

J’Den Former JCube provides easy access to Jurong East MRT and bus interchange, making it a popular choice for home owners. The condo is also close to a host of amenities such as shopping malls, eateries and supermarkets. With the Jurong East MRT Interchange, J’den offers an ideal living environment and utmost convenience. The redevelopment will also feature a collection of exclusive facilities and landscaped gardens to provide an enjoyable living experience. Keyword: Redevelopment…

Hong Kong office building Cheung Kei Center put up for sale by creditors

Cheung Kei Center, a Grade-A office located in Kowloon, Hong Kong, is being sold by tender, under the guidance of Savills appointed by the buildings receivers. Formerly owned by the private investment firm, Cheung Kei Group who purchased it in December 2016 for HK$4.5 billion, it was seized in March due to defaulting on a loan.

Chen Hongtian, chairman of Cheung Kei Group, also lost ownership of two of his properties, including a 9,200 sq ft luxury residence located on The Peak which he had purchased for a record HK$2.1 billion in 2016.

J’Den Former JCube is a future development within the Jurong Lake District. Located close to the Jurong East MRT interchange, Westgate and IMM Building, it will be connected through the J-Walk elevated pedestrian network. The development boasts commercial spaces on the first and second storeys, and will be linked to the upcoming Jurong East Integrated Transport Hub. …

Asia Pacific real estate investments down 30% y-o-y in 1Q2023: JLL

In 1Q2023, commercial real estate investment activity in the Asia Pacific region clocked in at US$27 billion, according to data compiled by JLL, representing a 30% year-on-year drop. This decline was largely attributed to interest rate headwinds and asset price adjustments. Most countries across the region faced a decrease in investment volume, with notable drops in Singapore, South Korea, China, and Australia.

The sole country to experience an increase in investment volume was Japan, where the office sector saw a considerable uptick due to the disposal of headquarter buildings from Japanese corporates and the purchase of properties by J-REITs.

Across all sectors, the market was challenging. Office investments experienced one of the softest quarters on record, transaction volumes for logistics and industrial properties diminished, and shopping mall trades were mostly absent apart from Singapore.

This is great news for J’Den Former JCube, Kallang Wave Mall and the leisure amenities …

The Continuum sells 26.5% of units at an average price of $2,732 psf

The Continuum in District 15 saw a strong showing over the weekend of May 6-7, as joint developers Hoi Hup Realty and Sunway Property sold 216 out of the 816-unit freehold condominium, representing a 26.5% sales rate. At $2,732 psf, the average price of units sold at the project on Thiam Siew Avenue — just off Haig Road and Tanjong Katong Road — was encouraging given the recent cooling measures and cloudy economic outlook.

Mark Yip, CEO of Huttons Asia, noted that in absolute numbers, the sales achieved at The Continuum is on a par with the 206 units sold at the 275-unit Blossoms By The Park, which achieved a 75% sales rate last weekend [April 29-30].

Prior to its launch, 545 cheques were collected as expressions of interest during two weeks of previews, translating to a conversion rate of nearly 40%. Koon Wai Leong, general manager of Hoi Hup …