Where Past Meets Present: Luxury Living in Emerald of Katong

Imagine yourself immersed in a world where the rich heritage of the past converges with the luxury of the present. Welcome to Emerald of Katong, a prestigious condominium complex that embodies the essence of sophisticated living. As you step into this opulent oasis, you’ll be enveloped in a world of elegance and refinement, where every detail has been meticulously crafted to provide you with an unparalleled living experience. With its prime location, innovative design, and luxurious amenities, Emerald of Katong promises to redefine the art of urban living, offering you a lifestyle that is truly fit for royalty.

A Luxurious Oasis in the Heart of Katong

The allure of Emerald of Katong lies in its ability to transport you to a world of luxury and sophistication, nestled in the heart of vibrant Tanjong Katong. This exclusive condominium complex is a masterclass in modern living, where contemporary design meets rich heritage, and innovative architecture blends seamlessly with lush surroundings.

As you step into this luxurious oasis, you’ll be enveloped in an atmosphere of elegance and refinement, where every detail has been meticulously crafted to provide you with an unparalleled living experience. From the moment you arrive, you’ll know that you’re in for a treat, with lavish amenities and superior accessibility waiting to be discovered.

Contemporary Design and Innovative Architecture

To create a truly exceptional living space, the designers of Emerald of Katong have pushed the boundaries of innovation and creativity. The result is a masterpiece of modern architecture, where sleek lines, expansive spaces, and clever use of natural light come together to create a truly breathtaking environment. With six majestic towers and 846 exquisitely designed residential units, you’ll find the perfect blend of comfort, style, and functionality.

From intimate 1-bedroom + study apartments to spacious 5-bedroom residences, each unit has been carefully crafted to cater to the diversified needs of modern families. Whether you’re a young professional, a growing family, or an empty nester, you’ll find a home that’s perfectly suited to your lifestyle and preferences.

Unparalleled Accessibility and Connectivity

For those who value convenience and accessibility, Emerald of Katong is the perfect choice. Located just minutes from Tanjong Katong MRT Station and Tanjong Katong Bus Stop, you’ll have easy access to public transportation networks, making it effortless to travel between various areas on the island for work or pleasure.

With the Thomson-East Coast Line also conveniently connected, you’ll enjoy greater mobility and a convenient place to live on-the-go. Whether you’re commuting to the city, visiting friends, or exploring the island, you’ll appreciate the ease and flexibility that Emerald of Katong offers.

Katong, with its rich history, cultural diversity, and vibrant lifestyle, is the perfect backdrop for your luxurious oasis. With top-quality educational institutions, shopping centers, and recreational facilities all within close proximity, you’ll have everything you need to live life to the fullest.

Residences of Distinction

Clearly, Emerald of Katong is not just a residential development, but a haven of luxury living that redefines the standards of modern comfort and sophistication.

Exquisitely Designed Units for Modern Families

Apart from its prime location and seamless connectivity, Emerald of Katong’s 846 residential units are designed to impress even the most discerning homeowners. Any family, regardless of size or lifestyle, will find their perfect abode among the diverse range of units, from intimate 1-bedroom + study apartments to spacious 5-bedroom residences. Each unit is meticulously crafted to provide maximum comfort, style, and functionality, ensuring that you and your loved ones feel right at home.

Whether you’re a young professional, a growing family, or an empty nester, Emerald of Katong’s units are designed to cater to your unique needs and preferences. With thoughtful attention to detail and a focus on luxury living, these residences promise to exceed your expectations and provide a truly unparalleled living experience.

Catering to Diversified Needs and Lifestyles

Any homeowner seeking a residence that can adapt to their changing needs will appreciate Emerald of Katong’s flexible and versatile unit designs. From families with young children to retirees, each unit is carefully crafted to provide a comfortable and convenient living space that evolves with your lifestyle.

Needs are constantly changing, and Emerald of Katong’s residences are designed to accommodate these shifts. Whether you require a home office, a play area for your children, or a quiet retreat for relaxation, these units are designed to adapt to your unique requirements, ensuring that you can live life to the fullest in a space that truly feels like home.

Embracing the Charm of Tanjong Katong

Assuming you’re looking for a place that perfectly blends the old with the new, where the rich history of the past meets the modern comforts of the present, then Tanjong Katong is the ideal location for you. This vibrant neighborhood is renowned for its cultural diversity, vibrant lifestyle, and rich heritage, making it the perfect setting for Emerald of Katong, your luxurious oasis in the heart of Singapore.

Cultural Diversity and Vibrant Lifestyle

Embracing the eclectic charm of Tanjong Katong, you’ll discover a melting pot of cultures, cuisines, and lifestyles. From the aromatic flavors of Peranakan cuisine to the colorful facades of shophouses, every aspect of this neighborhood is infused with a unique blend of tradition and modernity. As a resident of Emerald of Katong, you’ll be immersed in this vibrant atmosphere, surrounded by the sights, sounds, and flavors that make Tanjong Katong so special.

Whether you’re exploring the bustling streets of Katong, visiting the iconic landmarks, or simply soaking up the laid-back atmosphere, you’ll find that Tanjong Katong has a way of captivating your senses and leaving you wanting more. And with Emerald of Katong as your luxurious retreat, you’ll have the perfect base from which to explore and experience all that this incredible neighborhood has to offer.

Easy Access to Major City Attractions

To make the most of your urban lifestyle, you need a location that offers seamless connectivity to the rest of the city. Fortunately, Emerald of Katong ticks all the right boxes, with its proximity to Tanjong Katong MRT Station and Tanjong Katong Bus Stop making it easy to travel to various areas of the island for work or pleasure.

With the Thomson-East Coast Line just a stone’s throw away, you’ll enjoy even greater mobility and convenience, making it easy to get around the city and explore all that Singapore has to offer. Whether you’re commuting to work, visiting friends, or simply exploring new neighborhoods, you’ll find that Emerald of Katong’s strategic location makes it the perfect base for your urban adventures.

Katong, with its rich history and cultural significance, is a neighborhood that seamlessly blends tradition with modernity. And with Emerald of Katong as your luxurious oasis, you’ll be perfectly positioned to experience all that this incredible neighborhood has to offer, from its vibrant cultural scene to its modern amenities and attractions.

Elevating the Residential Experience

Not just a place to rest your head, Emerald of Katong is a haven where you can indulge in the finer things in life. This luxurious condominium complex is designed to provide you with a living experience that is truly unparalleled.

Exceptional Range of Amenities and Facilities

Exquisite attention to detail has been paid to create an exceptional range of amenities and facilities that cater to your every need. From lounging by the poolside to playing tennis, working out at the state-of-the-art gym, or hosting gatherings in the elegant function rooms, there’s something here for everyone to enjoy. Whether you’re looking to relax, socialize, or stay active, Emerald of Katong has got you covered.

Imagine starting your day with a refreshing dip in the pool, followed by a invigorating workout at the gym. Then, unwind with friends and family over a barbecue or a game of tennis. With Emerald of Katong’s extensive range of amenities, you’ll never be short of options to create unforgettable memories.

Thoughtfully Planned for Maximum Comfort and Convenience

With every aspect of Emerald of Katong carefully considered, you can rest assured that your comfort and convenience have been thoughtfully planned for. From the spacious layouts of the apartments to the meticulous attention to detail in every facility, every effort has been made to create a living space that is truly exceptional.

Range from intimate 1-bedroom + study apartments to spacious 5-bedroom residences, each designed to provide you with the perfect blend of style and functionality. Whether you’re a young professional, a growing family, or an empty nester, Emerald of Katong has a home that’s perfect for you.

Imagine coming home to a serene oasis in the heart of vibrant Tanjong Katong, where every amenity and facility is designed to make your life easier and more enjoyable. That’s what awaits you at Emerald of Katong, where luxury living meets unparalleled convenience.


Conclusively, as you step into the grandeur of Emerald of Katong, you will be enveloped in a world of luxury and sophistication that seamlessly blends the past with the present. This majestic condominium complex, nestled in the heart of vibrant Tanjong Katong, offers you a unique opportunity to experience the best of urban living in Singapore. With its innovative design, luxurious amenities, and superior accessibility, Emerald of Katong is truly a gem that shines bright in District 15.

As you explore the possibilities of making Emerald of Katong your home, you will discover a lifestyle that is tailored to meet your every need. From its prime location and seamless connectivity to premium amenities and closeness to top schools and recreational facilities, this luxurious condominium complex promises to elevate your living experience to new heights.

So, take the first step towards experiencing the epitome of luxury living in Singapore – visit the Emerald of Katong showflat today and discover your dream home.

However, if you are looking for freehold property which is near to reputable school, Leedon Green might be a safer bet for you.

Closer Together: How Multigenerational Living is Reshaping Singaporean Families

Discover how Singaporean families are adapting to the trend of multi-generational living and the impact it’s having on their relationships.

Joyful adult daughter greeting happy surprised senior mother in gardenImage courtesy of Andrea Piacquadio via Pexels

Hey there, welcome to our blog where we’re diving into the fascinating world of multi-generational living in Singapore. In this post, we’ll explore how family dynamics are impacting housing trends and reshaping the way Singaporean families are choosing to live. Let’s get started!

The Changing Face of Singaporean Families

Singaporean families are evolving, and the traditional nuclear family structure is giving way to more varied and complex arrangements. With an aging population and shifting cultural norms, more families are opting for multi-generational living to provide support and care for their loved ones. This trend is not only driven by practical considerations but also by a desire to strengthen family bonds and foster closer relationships across generations.

Housing Challenges and Solutions

Accommodating multiple generations under one roof can pose challenges, from privacy concerns to space constraints. However, innovative housing solutions are emerging to meet the growing demand for multi-generational living arrangements. From inter-generational living spaces that cater to the needs of different age groups to assisted living facilities that provide specialized care for elderly family members, Singapore is seeing a variety of options for families looking to live together harmoniously. Chuan Park Kingsford is one such project that is very ideal for multi-generational living in District 19 of Singapore.

Benefits of Multi-generational Living

There are numerous benefits to multi-generational living, including increased support for elderly family members, shared financial responsibilities, and the opportunity to learn from and connect with family members of different ages. Studies have shown that multi-generational households experience lower rates of depression and loneliness among older adults and higher levels of overall well-being for all family members. This living arrangement can also be a source of emotional support, childcare assistance, and cultural preservation.

Impact on Real Estate Industry

The rise of multi-generational living is reshaping the real estate market in Singapore, with developers and architects adapting to meet the needs of these changing family dynamics. There is a growing demand for larger homes or multi-unit residences that can comfortably accommodate multiple generations, as well as communal living spaces that foster interaction and connection among residents. This trend is likely to influence future housing developments and urban planning strategies, as the demand for multi-generational-friendly housing continues to grow.


In conclusion, multi-generational living is not just a housing trend but a reflection of the changing dynamics of Singaporean families. By choosing to live together across generations, families are creating a supportive and connected environment that benefits everyone involved. As this trend continues to grow, we can expect to see further innovations in housing design and a greater emphasis on fostering strong family relationships. Stay tuned for more insights on how multi-generational living is reshaping Singaporean families and housing trends!


Paving the Way: How Transportation Projects Impact Property Prices

Discover the surprising correlation between transportation projects and property prices – the results may have you rethinking your next move!

Distant man walking god on narrow walkway along road signs between aged residential houses with windows and signboards in townImage courtesy of Olga Lioncat via Pexels

Hey there, fellow property enthusiasts! Today, we’re diving into the exciting world of transportation infrastructure and how it plays a crucial role in shaping property values. From bustling urban centers to serene suburban neighborhoods, the future of transportation is closely intertwined with the real estate landscape. So, let’s buckle up and explore how infrastructure projects are paving the way for changes in property prices.

Impact of Public Transportation

Public transportation is like the heartbeat of a city, keeping things moving smoothly and efficiently. When it comes to property values, being close to reliable public transportation options can be a major selling point. Think about the convenience of hopping on a train or bus just steps away from your front door – that kind of accessibility can significantly boost property values in the surrounding area.

Take a look at neighborhoods that have seen a surge in property prices after the introduction of new public transportation hubs. Not only do these areas become more desirable due to improved connectivity, but they also attract a diverse mix of residents who value the convenience of getting around without having to rely on a car.

Effects of Road and Highway Projects

Now, let’s shift our focus to the impact of road and highway projects on property values. The construction of new roads and highways can be a double-edged sword when it comes to real estate. On one hand, improved infrastructure can lead to reduced commute times and better access to amenities, ultimately driving up property values in the long run.

However, it’s important to consider the potential downsides of large-scale road projects, such as increased noise pollution and disruptions to the neighborhood’s livability. Property owners near construction sites may experience temporary fluctuations in value, but in many cases, the long-term benefits of enhanced road infrastructure outweigh the short-term challenges.

Influence of Bike Lanes and Pedestrian Infrastructure

In recent years, the importance of bike lanes and pedestrian-friendly infrastructure has been gaining momentum in urban planning. Picture yourself strolling down a tree-lined promenade or cycling along a designated bike path – these amenities not only promote a healthy and active lifestyle but also have a positive impact on property values.

Communities that invest in bike lanes and pedestrian pathways often see an uptick in property prices, as residents are drawn to the idea of being able to walk or cycle safely around their neighborhood. Cities that prioritize these infrastructure improvements tend to attract a younger demographic seeking a more sustainable way of living.

The future of transportation is brimming with exciting innovations that have the potential to reshape property values in unprecedented ways. From autonomous vehicles to smart city initiatives, technology is playing an increasingly significant role in how we navigate our urban environments.

As these advancements continue to unfold, property owners and investors should keep a close eye on emerging trends in transportation infrastructure. By staying informed and adaptable, you can position yourself to capitalize on the changing landscape of real estate development and transportation planning.


And there you have it – a glimpse into how transportation projects are not just about getting from point A to point B, but also about how they can influence property values and shape the communities we live in. Whether you’re a homeowner, investor, or simply curious about the future of transportation, it’s clear that staying informed and proactive is key to navigating the evolving real estate landscape.

So, next time you hear about a new transportation project in your area, pay attention to how it could impact property prices. Who knows, you might just uncover a hidden gem of an investment opportunity that leads you down the road to real estate success! Emerald of Katong pricing is attractively priced, it is ideal for investment and own stay, which is right at the heart of Tanjong Katong.


Unlocking Potential: How Singaporeans are Embracing Collaborative Consumption in Real Estate

Discover how Singaporeans are revolutionizing real estate through collaborative consumption and unlocking the full potential of their properties such as Leedon Green condo.

Black Handled Key on Key HoleImage courtesy of PhotoMIX Company via Pexels

In today’s fast-paced world, the concept of collaborative consumption is gaining momentum, especially in the real estate industry. Singaporeans are increasingly looking for ways to share resources, save costs, and build community through innovative sharing economy models. This trend is reshaping the way we think about housing and property ownership, leading to the rise of collaborative consumption in Singaporean real estate.

Benefits of Collaborative Consumption in Real Estate

When it comes to real estate, collaborative consumption offers a range of benefits for both renters and buyers. By sharing living spaces or office environments, individuals can save costs and gain access to locations that may have been previously out of reach. Collaborative consumption also promotes a more sustainable lifestyle, reducing the environmental impact of over consumption.

Examples of Collaborative Consumption in Singaporean Real Estate

One example of collaborative consumption in Singaporean real estate is the emergence of co-living spaces tailored for young professionals and digital nomads. These shared living arrangements offer a sense of community, convenience, and affordability. Similarly, shared office spaces and coworking hubs provide entrepreneurs and freelancers with flexible work environments that foster collaboration and creativity.

Challenges and Considerations in Collaborative Consumption

Despite its many benefits, collaborative consumption in real estate also comes with its own set of challenges. Privacy and security concerns may arise in shared living arrangements, requiring clear communication and guidelines among residents. Regulatory issues related to short-term rentals on platforms like Airbnb also need to be addressed to ensure compliance with local laws. Additionally, maintaining property value and fostering community cohesion in shared spaces can pose challenges that require proactive management.

Looking ahead, the future of collaborative consumption in Singaporean real estate is ripe with exciting possibilities. Emerald of Katong developer is adopting such approach too. Smart technology and digital platforms are likely to play an increasingly prominent role in property management, offering residents greater convenience and efficiency. Sustainable and eco-friendly designs will also become more prevalent in shared living spaces, aligning with Singapore’s commitment to environmental sustainability. Moreover, collaborative financing models for property investment and ownership are expected to gain traction, opening up new avenues for individuals to share the benefits of real estate ownership.

In conclusion, the rise of collaborative consumption in Singaporean real estate reflects a shifting paradigm towards more inclusive and sustainable living practices. By embracing shared resources, innovative living arrangements, and collaborative models of ownership, Singaporeans are unlocking the potential to create vibrant communities and a brighter future for all. Let us continue to explore and embrace the possibilities of collaborative consumption in real estate, shaping a more connected and sustainable society for generations to come.


Game On: How Real Estate Gamification is Revolutionizing the Buyer Experience

Discover how real estate gamification is transforming the way buyers interact with properties and experience the home buying process.

Unpacked boxes in middle of roomImage courtesy of Ketut Subiyanto via Pexels

Welcome to the exciting world of real estate gamification – where buying a home feels more like leveling up in your favorite video game than signing a stack of paperwork. In today’s competitive market, standing out from the crowd is key, and engaging buyers through interactive experiences is the new frontier. Let’s explore how gamification can transform the home buying process, making it more interactive, enjoyable, and ultimately, more successful.

The Power of Gamification in Real Estate

Think about the last time you played a game and felt that surge of excitement as you completed a challenging level or earned a reward. That feeling of accomplishment and motivation is exactly what gamification aims to bring to the real estate industry. By tapping into the psychology of motivation and engagement, gamification can spur buyers to take action, explore new opportunities, and make informed decisions.

Examples of Successful Real Estate Gamification Strategies

Real estate companies around the globe are already reaping the benefits of incorporating gamification into their sales strategies. Take, for example, a virtual home tour that allows buyers to explore a property in a 3D environment or a scavenger hunt that leads potential buyers through a neighborhood, uncovering hidden gems along the way. These interactive experiences not only engage buyers but also create a memorable and personalized buying journey.

Tips for Implementing Gamification in Your Real Estate Marketing

Ready to level up your real estate game? Here are some practical tips for incorporating gamification into your marketing strategy:

1. Understand your audience: Tailor your interactive experiences to match the preferences and needs of your target buyers. Whether they are tech-savvy millennials or luxury home seekers looking into Leedon Green condo, make sure the gamification elements resonate with their interests.

2. Keep it fun and engaging: The key to successful gamification is to create experiences that are enjoyable and challenging. Consider incorporating quizzes, puzzles, or virtual reality elements to keep buyers hooked and eager to explore more.

3. Offer rewards and incentives: Just like in a game, rewards can motivate buyers to take action and complete certain tasks. Consider offering incentives such as discounts, exclusive access to properties, or additional perks for buyers who engage with your gamified experiences. For example, The Chuan Park pricing is attractively prices to motivate more buyers.

The Future of Real Estate and Gamification

As technology continues to evolve, the possibilities for real estate gamification are endless. Imagine a future where buyers can virtually walk through a property, customize the design, and even test out different furniture layouts – all within the comfort of their own home. By embracing gamification, the real estate industry is paving the way for a more interactive, engaging, and personalized buying experience.

Game on, real estate professionals! It’s time to tap into the power of gamification and revolutionize the way we buy and sell homes. By creating interactive experiences that resonate with buyers, you can stand out in a crowded market, build stronger connections with potential clients, and ultimately, boost your sales. So, level up your real estate game today and watch as your business thrives in this new era of gamified buying experiences.


Building Bonds: How Singapores Real Estate Diplomacy Strengthens Foreign Relations

Unlock the secrets behind Singapore’s real estate diplomacy and its impact on fostering stronger relationships with foreign nations.

Hey there, welcome to our latest blog post where we’re diving deep into the fascinating world of Singapore’s real estate diplomacy and how it plays a crucial role in shaping foreign relations. Ready to explore how property development can be a powerful tool for building bonds between countries? Let’s get started!

Singapore has a rich history of utilizing real estate as a means of diplomacy, leveraging property development to strengthen ties with other nations. By understanding the importance of these projects in shaping foreign relations, we can gain valuable insights into the intricate world of global diplomacy.

The Role of Real Estate in Diplomacy

Real estate projects such as Leedon Green have long been used by countries around the world to deepen diplomatic relations. Whether it’s building infrastructure or creating shared spaces, these developments can serve as tangible symbols of cooperation and collaboration between nations. Singapore, in particular, has a unique approach to using property development as a tool for fostering stronger ties with its international partners.

Singapore’s Real Estate Diplomacy

Let’s take a closer look at some of the major real estate projects initiated by the Singapore government for diplomatic purposes. These projects not only serve as economic drivers but also play a key role in shaping the country’s foreign relations. From iconic landmarks to sustainable urban developments, Singapore’s real estate diplomacy has left a lasting impact on its relationships with other countries.

Case Studies

One prime example of Singapore’s real estate diplomacy in action is Marina Bay Sands. This iconic hotel and entertainment complex not only symbolizes Singapore’s economic progress but also serves as a hub for international events and collaborations. By attracting visitors from around the world, Marina Bay Sands has become a key player in strengthening Singapore’s global ties.

Sentosa Island is another noteworthy case study, with its development as a premier tourist destination playing a pivotal role in attracting global visitors and improving diplomatic relations. The island’s diverse attractions and vibrant atmosphere have made it a popular destination for tourists and world leaders alike, further solidifying Singapore’s position on the world stage.

Looking towards the future, the Jurong Lake District holds promise as a future landmark for sustainable development and international cooperation. With plans for eco-friendly infrastructure and smart technology, this district is poised to become a model for sustainable urban living and a beacon of innovation on the global stage.

Future Prospects

As we look ahead, the potential of real estate diplomacy in shaping Singapore’s future foreign relations is immense. By overcoming challenges and seizing opportunities in the realm of property development, Singapore can continue to strengthen its partnerships with other countries and foster greater cooperation on the international stage.


In conclusion, Singapore’s real estate diplomacy plays a significant role in building bonds with other nations and shaping its foreign relations. Through iconic developments like Marina Bay Sands, Sentosa Island, and the Jurong Lake District, Singapore showcases its commitment to collaboration, innovation, and sustainability on the world stage. The future looks bright for Singapore as it continues to leverage property development as a powerful tool for diplomacy.

We hope you’ve enjoyed this exploration of Singapore’s real estate diplomacy and its impact on foreign relations. Stay tuned for more insightful content about the intersection of diplomacy, architecture, and international relations. Until next time!


Condo sales to Foreigners Down 71% Since ABSD Hike

The additional buyers’ stamp duty hike (ABSD), as well as the decline of 71 per cent in condo sales by foreigners, has dampened demand.

From April 27 to May 2023 (as per April 27), only 306 units of condos were bought by international buyers after the ABSD rate increased from 30% up to 60%.

The foreign buyers of condo units accounted for 5,4% of condo sales from May 2022 until April 2023. This figure decreased to 1.8 percent between May 2023 and April 2024.

Analysts reported that the drop in foreign purchases was greater in the CCR (core central region), which usually attracts a higher level of interest from investors and foreigners.

In the year leading up to ABSD, foreign purchasers accounted approximately 14 percent of condos sold in CCR. This fell to just 6 per cent during the last year.

Urban Redevelopment Authority’s (URA) statistics showed that the number of units sold decreased after ABSD was raised. Sales volume decreased by 36.6% in the CCR, from 4 215 to 2672 units.

The CCR saw a drop in luxury apartments over $10 million, from 73 sold units in 2020 to 50 sold units in 2030, though the average unit cost of such units was relatively stable at $3.800 per square feet.

Many investors possess financial power and are not in a hurry to sell. They would rather lease their property than to do so at a reduced price. The prices of properties have not fallen despite a decrease in the number of transactions.

Grand Dunman

Luxury home sales have also likely slowed, possibly due to the longer sales processes and stricter due diligence checks performed by financial institutions when purchasing large-ticket items.

Recently, more foreigners that are exempted of paying the ABSD (60%) have inquired or made commitments about purchasing luxury non landed private residential property here.

Quite a number are of South Asian ancestry but have US citizenship. Most foreigners who buy luxury non-landed properties prefer to get the best deal possible, instead of paying more for emotional reasons.

ABSD does not apply to buyers from the US (including residents of Iceland, Liechtenstein Norway or Switzerland) and their first Singapore residential home.

After the ABSD rise, Chinese buyers have significantly decreased in the luxury sector.

Chinese nationals topped both the lists of foreign buyers and sellers of condos at the CCR for 2020 and 20, with 112 – and 155 – caveats respectively. PropNex Research, URA data indicated that this fell to 113 units in 2022 and only 93 units in 2023.

A caveat registered with the Singapore Land Authority ensures that the buyer is protected when purchasing a home.

American buyers have now topped the list of the foreign buyers who lodged caveats with the CCR. There were 110 in 2023 compared to 91 in 2010 and 59 in 2010.

URA’s data from the 26th of April showed that in the three months leading up to 2024, private residential sale volume had fallen by 2,4%. It was the second consecutive quarter with a decline.

Read more: Leedon Green

From January 2024 to March 2020, 43 transactions took place with foreigners. 22 of these were US buyers. For the 11 remaining transactions, we still do not know who bought them.

In the period January to march 2024, foreigners accounted for 1,2 % of new and resale units. This is down significantly from 1.7 percent in the last quarter of 2023. It also represents the lowest level since 1995. As foreign demand drops, local buyers will drive home sales.

RTC to redevelop into housing when the lease ends in 2026

Over the last twenty years, the club has been subjected to several protracted legal actions brought by its founding shareholders.

In 2000, around 5,000 members of the club sued the shareholders for contract breach and misrepresentation. The members claimed the club’s owners misrepresented RTC, saying it would be “a prestigious private city-club” with only 19000 members. They won their lawsuit in 2005, demanding a refund for the S$28,000 they paid as membership fees.

In the course of the lawsuit, RTC was also accused of lowering the price for membership.

According to court documents BT obtained, the membership fee dropped from S$28,000 per month in May 2000 to S$16,000 per month in June 2000. The price was reduced to S$13,300 in December 2000.

The winning land bid per plot ratio could be higher than S$1,500/psf if the site is put on sale today. Assuming that the project has 99-year leases, finished units should sell for more than S$3,000/sqf.

A private preview of the Watten House Project, a freehold new launch in the vicinity, saw condo units sold at a price per square foot of S$3,230 at a private event held on Nov 18. The property developers UOL Group, Singapore Land Group, and Singapore Land Group, sold 57 percent, or 180 out of the 360 units, at District 10 Condominium near Tan Kah Kee MRT.

The Singapore Land Authority’s (SLA) joint statement of Monday (Nov. 20) said the redevelopment of RTC is consistent with Singapore’s policy to redevelop as many brownfields sites as possible to satisfy future demand for housing and land.

The redevelopment of the precinct will “enhance its residential character”. Future residents will be able benefit from transport infrastructure, connectivity and the city as well.

Raffles Town Club has issued a press release to The Business Times stating that it will continue to offer services to all its members. Members can use the club’s facilities until 2026.

RTC will continue to be able operate as usual until its lease expires. At that point, it will need to return its land to the government. SLA said they would work closely with RTC on the return.

Europa Holdings was successful in its bid of S$100,000,000 to acquire the site that had been zoned as a sports and recreational use.

Leedon Green

Raffles Town Club’s (RTC) prime plot at Bukittimah, which it currently occupies under a lease that expires October 20, 2026, will be used for residential development.

As the site is likely to be in demand by developers, this could further reduce the cost of membership.

RTC Memberships were initially sold at S$28,000. Now they can be found on the secondary markets for S$7,000 – S$8,000.

The lease at the RTC, 1 Plymouth Avenue ends on October 17, 2020. The parcel would be a rare 99-year leasehold residence on Bukit Timah Road. Given its proximity of an MRT station and popular schools as well as the Botanic Gardens and other attractions, it will likely be highly desired.

Singapore Chinese Girls’s School, Anglo-Chinese school, Nanyang Primary School and St Joseph’s Institution are some of the nearby schools.

In 2008, Chinese investors Lin Jian Wei (who had acquired RTC’s assets in July 2001) and Singaporean Margaret Tung brought a S$130m lawsuit against the founding four.

The club Lin and Tung argued the four founding members had stolen the club’s money through director’s fees as well management fees paid to an external company of which they were shareholders or beneficial investors.

In November of 2012, the billionaire Peter Lim as well as the three other RTC founders were successful in their appeal. The claim against them was then dismissed.

SLA and URA have said that, if RTC wishes to continue its operations, it will open a tender for the government agencies to engage RTC about the availability state properties suitable for the club.

There is no information on when the club ceased selling memberships. However, there are some still available for sale on the secondary market.

Carousell revealed that RTC Memberships were offered on the site as recently three months ago for S$7,000 – S$8,000.

As occupants are cautious, rents on Grade-A offices are expected to fall

Wong Xian Yang from Cushman & Wakefield’s research team for Singapore & Southeast Asia said that the Downtown Core accounted the largest portion of the net demand during 3Q2023.
The net office demand was 398,264 square feet. The net demand growth was the fastest q-oq since 1Q2020.

Wong says that financial services and professional services remain the most important demand drivers in the CBD. In the first nine month of 2023, 58% of all new leases were in the CBD – up from only 26% during 2022.

Tricia song, CBRE’s Singapore and Southeast Asia head of research, said that more diversified drivers of demand have helped to compensate for the slowdown in tech.
The most active sectors during 3Q2023, were asset management, private wealth and consumer products.

A tighter market due to project redevelopments has also helped boost occupancy rates from 89.2% during 2Q2023 up to 90% during 3Q2023.

URA headline property rental index showed a dramatic 4.9% jump q-o q in 3Q2023, more than double the 2.3% increase in the quarter before.

URA real estate statistics for 3Q2023, however showed that median rents dropped for the very first time in five years for Category 1 offices, which URA defines to include buildings in the Core Business District (including the Downtown Core) and Orchard Planning Area. They were down by 2.3% on a quarter-over-quarter basis.

The median rents of Category 2 office space, which URA defines as any other office area outside Category 1, fell 4.5% quarterly in the 3Q2023.

JLL also found that CBD grade-A office rents dropped in 3Q2023, marking the end of nine quarters consecutively growing.

Read also: Leedon Green

JLL reported that the average gross rents for CBD Grade A office spaces tracked by the company fell 0.3% quarterly to $11.29 psf/month (pm) in the 3Q2023, down from $11.32 pm/psf in the 2Q2023.

URA data show that approximately 0.45 million sq. ft. was removed from the stock in 3Q2023, a result of the redevelopments to Central Square, Faber House and Central Mall.

In 3Q2023, 57 transactions for office strata were recorded in the Central Region. This is the lowest figure since 3Q2020 (47 transactions).

CBRE Research expects the rents of Grade-A offices in the Core CBD area to rise by 1.5% to 2.5% over the entire year. This growth will be faster than projected GDP but still slower than the 8.3% increase in rental growth that is expected in 2022.

In the Central area, however, it is anticipated that rental growth will moderate in future quarters as a result of an increased interest rate regime expected to last longer and global uncertainty.

JLL has predicted that by 2024, the number of offices completed on the island will have reached a record high. Close to 1.9msq ft of Grade A offices is due for completion within the CBD.
The majority will come from the IOI Central Boulevard Towers, which are 1.3msq ft in size, and Keppel South Central, which is 0.6msq ft.

JLL estimates a total of 1.1M sq ft uncommitted as of 3Q2023.

Buy a freehold shophouse in Jalan Besar at just $22 million

Public tender is being held to sell a freehold shophouse located at 255 Jalan Besar at a price guide of $22million. The three-storey building occupies an area of 3,145 sq ft, with a GFA of approximately 7,750 sq. ft.

The property is located in the Jalan besar Secondary Conservation Area and has a gross plot-ratio of 3.0 according to the Master Plan 2019.

It has an untapped GFA (gross floor area) of approximately 1,685 square feet.

The shophouse guide price is $2,838 per square foot based on GFA or $2,331 per square foot based upon the maximum floor area of 9 435 sq ft.

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Michael Tay is the head of CBRE’s capital markets in Singapore. He says that given the unique attributes, such as the freehold tenure, large frontage and potential for signage and naming rights, both investors and owners-occupants are expected to show a lot of interest.

In the last 12 months, he says that the demand for shophouses on the edge of the city has increased. Notable sales include the sale of 203 and 209 Jalan Besar earlier this month, for $38.5m. 301 Jalan Besar sold in May for $26m.

Joshua Giam of CBRE’s associate director for capital markets in Singapore highlights the fact that the new owner could maximise the plot ratio through a rear extension, or by enlarging their current floor plan. The shophouse can be used for F&B, clinics and serviced apartments. Giam says that “these initiatives will allow the owner to maximize rental returns and the capital value of the building.”

The bid for 255 Jalan Besar closes on November 30 at 12pm.

The US housing market has now complete chaos

For the first time since the Federal Reserve started raising interest rates, all aspects of the housing market is now likely to get worse.

The housing market has reacted very differently in 2022 to the recent rise in mortgage rates. Then, the strike by home sellers boosted the demand for new homes. Homebuilders became the one bright market. Lack of inventory kept the costs high. This allowed businesses to profit from healthy profits for the mortgage rates of buyers. This doesn’t seem to be the situation anymore. It’s now easier to lower the cost of a home-loan to 5.5 percent – which is the minimum for potential buyers – at around 7% than around 8 percent. Confidence among builders is going in the direction of their stock prices and profit margins. In this month the National Association of Home Builders/WellsFargo sentiment gauge fell to its lowest level since January. We should expect builders to reduce their production plans moving forward.

Multi-family housing starts saw relatively stable conditions earlier in the year, and units under construction were rising as delays to supply chain processes kept projects from completion. Over the last two months, there’s been a noticeable decrease in the number of housing beginnings. The September numbers were 31.5 percent lower than the previous year and construction units fell for two straight months. This indicates that we’re likely to be over the peak of this cycle. The rental market will continue to drag the economy into 2024 as less units are being constructed and less under construction.

From the perspective of an investor the issue is at a time of robust consumption and lofty expectations for third quarter real GDP growth has led to a shocking selling off in Treasuries. JPMorgan Chase. JPMorgan Chase estimates that the economy grew at an average of more than 4 percent last quarter. Part of that boost comes from housing, which is expected to boost GDP in the first time since early 2021 because of the recent increase in single-family home begins. This is unlikely to continue into the current quarter, and possibly until 2024, unless interest rates come off.

The resumption in student loan repayments as well as the United Auto Workers’ strike and the union that represents radio and television actors are all possible factors to affect consumption.

Leedon Green Singapore

This convergence could finally give investors some respite from the run of hot economic data, which has been weighing on bonds and stocks as it bolsters the prospects of further tightening of monetary policy. If that is not the case, it could mean that the economy as well as the labour market are gaining more momentum than they anticipated, an extremely uncomfortable scenario when one of the markets has already been shattered by the most high borrowing rates since the mid 2000s.

Since the beginning of 2022 the resale market for housing has slowed as sellers resist to surrender their mortgage rates that are low. New houses had offered buyers some respite. However, they are no longer. Builders have been overwhelmed by the recent rise in mortgage rates that reached as high as 8%. Since profit margins are declining, they will most likely cut their construction spending in the months to come. Apartment construction has also rolled over in recent months as developers are afflicted by the slowing rent growth and high costs for financing.

It’s easy to understand the frustration of potential homeowners. What are the implications for macroeconomics? Due to the importance of housing to overall activity and the importance of residential construction, a slowing pace in construction will slow the pace at which the economy can grow but not enough to trigger recession in the next few quarters. To the extent that the brutal sell-off in Treasuries has been in response to hotter-than-hoped-for economic data, a paralysed housing sector will offer some respite.

Ghost Month: Developer sales decreased by 44.9 percent, and fewer projects launched

Developers may choose to delay launches until 2024, when rates stabilize and sentiment improves, due to the lower sentiment and the nevertheless high interest rates, as well as due to the holiday season in December.

Because of the variety of products available on the market, consumers are becoming more selective in their selections.

Developers will need to be careful in pricing these new projects in order to guarantee that they sell at a high volume. There will be no substantial price cuts as the developers are already committed to capital expenses.

The OCR will be the center of most major project launches within the next few months. These include the 265-unit Lentoria and the 474-unit Hillock Green in the new Lentor Hills estate. In Jurong in Jurong, the J’den Condo, located in the site of the former JCube Mall, will have 368 units. The 440-unit Sora condominium, located at Yuan Ching Road, will also be built. The 341-unit Hillhaven at Hillview Rise.

In addition to ECs, 335 units were sold in September, and launched 68 units. In August, 649 units were sold and 950 were launched.

The September sales figures that does not include executive condominiums (ECs), is less than one-quarter of the 987 units that were sold in the same period in 2022. It’s also the month that has the lowest number of sales in the year thus far, in addition to the month of December 2022 where developers sold 170 units.

In addition, buyers’ sentiment remained “cloudy and a little chilly” due in part to the cooling measures rolled out in April.

Leedon Green is obtaining TOP status soon in December 2023.

According to the figures that was released on Monday (16th October) by the Urban Redevelopment Authority, developers sold 217 homes for sale in September. This is a drop of 44.9% from the 394 units removed in August.

Just one new project was launched in September: leasehold of 999 years The Shorefront at Jalan Loyang Besar in the Outside Central Region (OCR) that had three units being sold for a median of S$1,902 psf.

The rising additional Buyer Stamp Duty (ABSD) and the soaring economic uncertainty and inflation, along with the rising amount of housing options for public like Build-to-Order, for instance are just a few of the factors buyers consider when weighing their options.

The number of private homes sold decreased in September, which was exacerbated by an absence of new projects launching during the gloomy Hungry Ghost Festival.

The freehold Pullman Residences Newton was the second-highest, having 21 units sold for a median price of S$3,258 psf. In the three segments of the market that are available, the Core Central Region (CCR) held up “relatively better” than the other two segments. The 76 CCR units sold accounted for 35 per cent of condo and private apartment sales in September.

Overall, market watchers predict that private new home sales, excluding ECs are expected to range between 6,000 and 7,000 this year, a little less than the 7,099 homes sold last year.

The only bright area was the EC market, which saw 118 units moved last month. The demand for ECs has been high as price-sensitive buyers seek the best alternative to buying a home. Additionally, those who purchase ECs are given upfront remission on ABSD

Of the 118 EC units, some 100 were sourced from Altura located in Bukit Batok, the only EC project to be launched this year. The overall sales for the project to 88 per percent. Altura was also the top-selling project for a second consecutive month, selling units at a median price of S$1,473 a square foot (psf) during September.

In the OCR the sales of real estate fell by 64 percent month-over month, to 70 units. For the Rest of Central Region, it dropped 33 percent from month to month.

Some buyers avoid buying a home during the festival because of traditional beliefs. Developers tend to steer away from launching new projects during that period too.

Altura also set an industry benchmark in the EC market by selling an area of 980 square feet for S$1.6m or S$1,585 psf. This is higher than the previous psf price high held by Copen Grand, which stood at S$1,499 psf.

This brings the number of primary home sales for the first 9 months of 2023 to 5,407 units – 15.6 percent lower than the 6,409 units transacted in the same period in the year before. This is the lowest since 2016, when 5,656 homes were sold.

It’s not too surprising that home sales fell following the Hungry Ghost Festival, which was over in mid-September.

The increasing geopolitical tensions across the world and the potential effects of the conflict in the Middle East may also dampen the spirit of the real estate market.

Looking ahead, analysts expect that sales for developers to remain subdued and the mood of buyers to stay muted amid growing macroeconomic uncertainty as well as rising interest rates.

CDL celebrates the diamond jubilee by presenting its seventh Top Developer Award

Two of CDL’s executive condominium (EC) developments were recognized as the best projects in their respective categories. Piermont Grand received the award for the Best Executive Condominium in the category Completed (Non Central) while Copen Grand was awarded the award for the Best Executive Condominium in the category Uncompleted.

City Developments Ltd. has had an eventful year. In October, the property group celebrated its diamond jubilee and won the Top Developer Award at EdgeProp Singapore Excellence Awards 2020 (EPEA) for the seventh consecutive time.

ECs, a unique project of public housing developed by private developers, is sold to Singaporean families who meet the requirements. ECs are a great way to fill a niche on the housing market by providing condo amenities for incredibly low prices. CDL was able to achieve this at Piermont Grand and Copen Grand.

Chia believes that EC homes should remain a viable alternative to private residences. CDL, as one of Singapore’s leading property developers, is eager to encourage innovations that will raise the bar in future residential developments.

Find out more: Leedon Green Farrer Road by MCL Land

CDL’s innovative plans are centered around digitalisation. The company will integrate CDL Home Sales – its proprietary electronic system – which provides homebuyers with a transparent and efficient purchasing experience – with other digital solutions in its wider in-house ecosystem, such as the My CDL Home app. The app will allow home buyers to receive monthly updates about the progress of construction in their project, including an estimated TOP and specific information for their unit. Home buyers can also view their payment schedules and billing schedules and make an appointment to collect keys after TOP.

CDL, in addition to its strengths as a developer of a diverse residential portfolio, ranging from ECs and high-end luxury developments, will look to elevate its track record for developing iconic mixed-use residential projects.

CDL is not immune to the challenges of the market, such as a series of cooling measures for property over the last few years, high interest rates, and a cautious macroeconomic outlook in Singapore and globally.

CDL is also preparing for two new launches by 2024. The first project to launch in 2024 will be Lumina Grande, a 512 unit EC at Bukit Batok Avenue 5. The project is scheduled to launch in the 1Q2024. CDL won the site at a government land auction in September of last year, after it submitted a winning bid of $336.07 millions. The land rate was $626 per plot ratio.

Market watchers will also be looking out for CDL’s upcoming project in Woodlands, Champions Way. Last month, the developer won the site after submitting a winning bid of $294 million. This equates to a land rate per square foot of $904

After the government announced a series of cooling measures for property in April of this year, the company decided to delay the preview of Newport Residences. This 246-unit residential project is located on Anson Road, in Tanjong Pagar. These measures included the doubling of foreign buyers’ additional stamp duty to 60%, from 30%. Newport Residences was developed from the former FujiXerox Towers.

The EPEA jury recognized several CDL residential projects that were completed or unfinished, but which showed excellence in design, landscape, sustainability and innovation. The award-winning CDL projects of this year were designed to cater to a wide range homeowners and buyers from Singapore.

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