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Shophouses for commercial use in the CBD are now ranging from $5,000 to $6,000 per sq ft and fringe areas fetching $3000 per square foot, according to Mary Sai, executive director of capital markets at Knight Frank Singapore. Even commercial strata space in the CBD has reached records, with prices soaring to $4,000 psf.

Marina View Residences contractor associated with IOI Properties, emerged the winner after submitting the only bid amounting to $1.15b equivalent to $1,378.5 psf.

Sai is therefore seeing certain local buyers turning to HDB shophouses as an alternative. “HDB shophouses are a viable option for investors in Singapore who don’t want to be part of the strata commercial or shophouse market,” she says. In contrast to foreigners, Singaporean investors can purchase shophouses with living space on the upper floors. “The additional stamp duty charged to buyers for such units is likely to be lower than those for pure residential units,” she adds.

Knight Frank is the exclusive marketing agency for the portfolio consisting of the four HDB shophouses. The seller is a business which purchased the shophouses in the past five years. The shophouses are now up to purchase by private treaty. They can be bought either individually or as portfolios.

The two HDB shops are located adjacent to each other located at the 88 Circuit Road in the Macpherson/Mattar Precincts. The properties are located within walking distance to Macpherson’s Macpherson Interchange station and Mattar MRT station. It is close to the Macpherson Community Centre, the main food and market are also within walking distance. The catchment area is expected to expand as new residents move in to the 363-unit Macpherson Blossom HDB blocks sometime during the middle of the year.

The two units on 88 Circuit Road are two-storey HDB stores with living quarters above. The two units have the total area of 1,184 square feet. On the ground level include a minimart as well as a hardware shop. The units on the upper levels are homes. The properties are leased for 76 years beginning on April 1 1993. Thus that there are 45 years remaining in the contract. The units come with a price cost of $2.65 million and are available to purchase either separately or in combination.

Two additional HDB shop units are situated within Hougang Avenue 1. One is located at Blk 102 while the other one is located situated at Blk 108. Ground floor HDB shop located at Blk 101 Hougang Avenue 1 is located in a strata of 1,001 square feet. Three tenants reside in the space comprising an apparel shop along with a hair salon as well as the optical shop. The shop is leased for 88 years. lease beginning in 1995. Therefore, there is an outstanding balance of 59 years.

The other unit located at Blk 110 Hougang Avenue 1 is an two-storey HDB shop that houses a living space above. The two-storey structure, therefore is larger in strata of 1,571 square feet. The lower floor is leased to a laundry and hair salon and the top floor is used as a home.

Defu Lane and Defu Avenue Industrial Estate are both located close to Hougang Avenue 1. The HDB block is located near The Minton Condo, with 1,145 units, 164 units of The Promenade at Pelikat Condo and the 64-unit Primo Residence. Kovan MRT station, as well as Heartland Mall are in the area.

The one-storey HDB shop unit located at 101 Hougang Avenue 1 is listed with an estimated price of $3.2 million in comparison to the two-storey unit has a asking for $3.4 million.

Conservation shophouses are priced starting at $4.5 million in total, these HDB shops will attract local investors who are looking for alternative options and the possibility of a steady rental income, says Sai from Knight Frank. She says the portfolio is offered to the market with current tenancies, and could provide investors a return of 3%.

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A brand-new freehold semi-detached property located at 6. Greenleaf Lane, located off Sixth Avenue in District 10 is for sale, with the asking cost at $14.5 million. The property covers a land area of 3,956 sq ft as well as an built area of about 10,000 square feet. The asking price is $3,657 per square foot on the land and $1,450 per square foot for the built area. The house was built by the boutique developer Brand New Land Group.

The property is located on a normal parcel that is zoned for residential, two-storey semi-detached usage. The frontage is 11m and an overall depth of 33.5m. The house is four stories high and includes six bedrooms with en suites as well as a lift, and an outdoor pool. There’s a car-portal as well as a family room that can be used for any purpose as well as a wine cellar and a an area for helpers on the ground floor. The second floor of the property is home to a living area and dining area along with wet as well as dry kitchens. The third floor of the property has four en suite bedrooms as well as an office. The upper level of the property includes a master bedroom comprising a bedroom as well as a study that both are open to a roof terrace.

The property is located within one kilometer to Henry Park Primary School and 2km from Methodist Girls’ School. It is located a short distance away from MRT Stations Holland Village and Sixth Avenue. Other nearby amenities are Holland Village, Jelita Shopping Centre, Greenwood Avenue, Orchard Road and the Dempsey cluster. The locations mentioned are all just a 10 minute drive from the hotel.

“The special selling point of the home is the large built-in space of about 10,000 sq ft and the master suite that covers more than 2,000 sq feet of space for the owner of the property. This is a rare opportunity to buy an all-new home that has an enormous floor space and a luxurious interior in this prime location for less than a $15 million price cost,” says Tatiana Teh Director of Sales and Marketing at Brand New Land Group.

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Lim Yew Soon, managing director of EL Development, takes calculated risks when purchasing the residential sites. The government launched two sites available for sale at one-north -namely, Slim Barracks Rise Parcels A and B at the end of June in 2021 instead placing his bets on each of the sites, Lim banked on winning only one site, which was Parcel A.

The 85,652 sq ft 99-year leasehold site which Lim was focusing on has a plot-to-plot ratio of 3.0 which lowers EL Development to build a 27-storey, high-rise apartment block. “Typically residential developments that are built in the one-north zone are mid-rise with 13-15 stories,” says Lim. Thus, at the conclusion on September 20, 2021’s tender, EL Development emerged at the top of the 10 bidders. The company was granted the site at $320.1 million ($1,246 per plot ratio, psf)) in the month of October, 2021.

The brand new residential project located at Slim Barracks Rise is named Blossoms By The Park. The condo features two levels of parking in the basement, with the strata-titled units totalling approximately 4,306 square feet on the upper level.

The commercial units line the public plaza which provides an access point to the park’s public area as well as it is also the Buona Vista Station (an interchange for the Circle and East-West Lines). By taking the shortcut to the park it’s only a three to 5-minute stroll (288m) towards Buona Vista MRT station.

EL Development appointed ADDP Architects as the design architect of the project. ADDP Architects was also appointed by Ecoplan Asia as the landscape architect. Ecoplan will design the adjacent one-north parks as well. “Right this moment it’s a pretty sad area,” says Lim. When it’s finished the space will become “a seamlessly integrated extension of the amenities for residents and greenery” Lim adds.

In Blossoms by The Park the residents’ amenities are located on the second floor and apartments are located on from the third to 27th floors. The building has 11 floors, or 11 units each floor. The units at the penthouse level (27th level) are exactly the same as the units that are on lower levels. The only difference is in the ceiling high: 4.75m for the penthouses and 2.75m for lower floor units.

One- and two-bedroom units are very popular’
In determining the units’ types, EL Development considered the prescribed average area of 85 square meters (914.9 sq feet) in the single-north portion within the Rest of Central Region. Therefore, one-bedroom-plus- study units of 549 sq ft, two-bedroom units of 678 sq ft, and two-bedroom-plus-study units of 721 sq ft accounted for 125 out of the 275 units (45.45%).

In addition to the triple-bedroom units with dual-keys, the number of two-bedroom and one-bedroom kinds would rise up to one hundred and fifty-five units (about 63.63%). Lim says that those who purchase three-bedroom dual-key units are buying two bedrooms and an en-suite studio in one purchase. “We realize that the two-bedroom and one-bedroom units are in high demand in the present marketplace,” he adds. “Such properties are attractive buyers due to their low cost.”

It The best place to start is Tembusu Grand in the prime neighborhood of Katong. The development saw 340 of 638 units within the 99-year leasehold condominium sold at an average cost of $2,465 per square foot over the weekend between April 8 and 9. Based on Ismail Gafoor, CEO of PropNex Realty, about 70% of the units sold were one- or two-bedroom units. Although there were some homeowners but the majority was investors. states.

Blossoms By the Park open for previews the show on April 14 and the debut on the 29th of April. Prices will start from $1.291 million ($2,352 psf) for a one-bedroom-plus-study unit, from $1.499 million ($2,211 psf) for a two-bedroom, and from $1.585 million ($2,198 psf) for a two- bedroom-plus-study. Three-bedroom units with dual keys start at $2.082 million ($2,276 per sq ft) for three bedrooms, while three-bedroom units cost $2.279 million ($2,183 per square foot). In contrast, four-bedroom units start with $2.921 million ($2,243 per square foot) as well as four-bedroom units that are premium start starting at $3.335 million ($2,213 per square foot).

Ken Low, managing partner of SRI Ken Low, managing partner of SRI, anticipates the average price of sale to be within the “$2,350 to $2,400 range”.

PropNex’s Gafoor expects that the performance in sales of Blossoms By The park will likely to be comparable to the performance for Tembusu Grand. “Blossoms By The park is priced with care,” he adds. “Sales will likely to exceed fifty% figure.” With only 275 units, a 50% is roughly 140 to 138 units.

‘Strong sales track record’
SRI’s Low highlights the previous three launches of one-north, which brought “a excellent track record of sales”. Particularly, the initial condominium project in one-north, The 405-unit One-North Residences was launched on March 7, 2007 and% sold in just three days. The following launch, in July 2007 included 334 units The Roches-ter Residences. “It was sold out within less than an entire months,” Says Low.

Just diagonally to Blossoms In The Park, which is diagonally opposite Blossoms The 165-unit One-North Eden that was officially first launched in April 2021just 14 years following The Rochester Residences’ launch. In the initial weekend the project was sold out. 140 of the units (85%) at One-North Eden were purchased according to the Low of SRI’s. The project was fully sold out by the end of March 2022less than one year after its launchat a cost of $1,965 per sq ft Based on caveats filed by URA Realis.

The next one-north launch is likely to occur at The Hill @ One-North which is a 142-unit housing project from Kingsford Development. This Slim Barracks rise Parcels B project is separate by Blossoms By The Park by the Nan- yang Technological University Alumni House and Executive Centre.

“The main reason to choose one-north is it’s a major business hub,” says Marcus Chu the chief executive officer of ERA Realty Network. One-north encompasses 200ha of site developed by JTC Corp, and houses more than 400 multinational businesses and 15 public research institutes as well as five higher education, such as Insead as well as Essec Business School, and corporate campuses like the global campus of Unilever, Unilever Campus @ one-north.

JTC estimates there are 50,000 or so experts in one region. The ERA’s Chu mentions other knowledge workers working in the area, including there is the National University Hospital (NUH) and The National University of Singapore (NUS) as well as Science Parks 1 and 2. “Many of them would like to live in a close distance of their workplace,” he says.

Due to the absence of new housing supply in one-north, the other private condominiums that have been launched within District 5 have witnessed “strong and steady demand” from investors and owner-occupiers throughout the years, claims Chu. “We are seeing a lot of demand in projects in one-north.”

There is a shortage of new products
The rates for residential rental at one-north are holding steady due to the lack of new rental supply, according to the ERA’s Chu.

Mark Yip, CEO of Huttons Asia, says there are two completed private residential developments with 739 units within One-North Rochester Residences as well as One-North Residences. For 2023, a unit with two bedrooms in One-North Residences was rented for an average of $5,551 per month, whereas a two-bedroom unit located at The Rochester Residences was rented at an average rate of $6,550 per month. “The rents are higher than similar non-landed developments such as Dover Parkview and Heritage View and are expected to exceed expectations given the limited availability,” he adds.

According to Yip Yip, the two residential parcels in Slim Barracks Rise are the only sites that are zoned to residential use in the area around Biopolis as well as Fusionopolis.

One-north is a place that typically has “robust rental transactions as well as median rents” as per Low of SRI. “The one-north region in District 5 could have higher rents than developments in District 3 which include Alexandra, Bukit Merah, Queenstown and Tiong Bahru,” he says.

One-north is a popular choice for investors While the ERA’s Chu expects “a fair amount of owner-occupiers” too. He anticipates Singapore citizens as well as permanent residents to comprise most buyers in new launches of projects, like Blossoms By The Park.

Owner-occupiers, specifically families with children who are of schooling age, are also attracted to the area. The closest schools to the property, located 1km away from Dover Road are Fairfield Methodist School (Primary and Secondary) and ACS (Independent) according to SRI’s Low. The school is just a walk of three minutes from Buona Vista’s MRT interchange station as well as 5 minutes towards Star Vista Mall.

Majority of investors
However, Low expects investors to be a bigger percentage of the purchasers in Blossoms By the Park. Low sees one-north benefits from the plans of the government in the direction of Greater One North, an expansion of the existing R&D as well as high tech ecosystem. This includes the upcoming Dover Knowledge District, NUH Campus, NUS and Science Parks 1 and 2.

Low mentions that one north of the city is “a five-minute drive, or three MRT stops away from the Greater Southern Waterfront”.

EL Development’s Lim believes of the fact that “Blossoms by the Park” is the perfect name for the project. “‘By the Park’ refers to being right next to a park. We chose “Blossoms” is the reason we wanted a name that was related to the theme of gardens. We decided that ‘Blossoms’ would sound great in Chinese as well, as it symbolizes abundance and growth,” he notes.

Lim adds: “One-north is Singapore’s Silicon Valley.” In addition to being close to schools that are good One-north offers a perfect location for those looking to work in knowledge industries, Lim says. Lim thinks that one-north provides “an ideal atmosphere” for families as well.

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A shophouse that is intermediate at 120 Tanjong Pagar Road, in the Tanjong Pagar conservation area is available being sold at $20.8 million. The shophouse has been renovated and is spread over four floors. The built-up area of 6,460 square feet that means that the selling price of $20.8 million is approximately $3,220 per square foot. The property is offered through private contract.

The contemporary, four-storey shophouse is distinctive along the length of shops that are typically 21/2 stories in height, claims Krystal Khor director of Mondania the sole agency for the property. “The property has an 8.8m length of frontage, almost twice as wide as the typical shophouse,” she says.

The property has undergone massive additions and changes over the past three years and included upgrading the electrical and mechanical systems. A temporary occupancy permit was granted in the month of November 2022. In the process of reimagining the interiors architects Carl Lim, principal of Czarl Architects, restored and protected the exterior.

The owner has put in an updated lift that is accessible from each floor. A terrace outside on the 2nd floor of the shophouse is a view of the back streets of the well-established Duxton Road and Craig Road. The property is located on a 1,684 square feet site and has an agreement for 99 years from 1988. Therefore the property has an additional 64 years in its lease.

The property is part of the Outram Planning Area and was initially approved for use as a restaurant on the first floor, and for hotel usage on the third through fourth floors. But, in Covid the owner rearranged the usage on the higher floors from hotel use to office usage.

The four levels are all currently leased, according to Khor. The tenant on the ground floor is an Chinese hotpot restaurant, while the second floor tenant is “a Singaporean celebrity couple with an avant-garde F&B concept” The third-floor tenant will be Club Pilates; and the fourth-floor tenant is Charge Gym.

“Based on the present revenue from the rental property potential buyers is likely to get a gross yield of around three%,” says Khor.

The property located at 120 Tanjong Pagar Road is near two MRT stations. It is a three-minute walking distance to Tanjong Pagar MRT Station on the East-West Line and a five-minute walk to the Maxwell MRT Station on the Thomson-East Coast Line.

Nearby are towers like Guoco Tower which is an integrated project that is the tallest tower located in Singapore; Oasia Downtown; and Amara Hotel with the adjoining 100AM mall.

Future developments in District 2’s CBD district in District 2 include Mondrian Singapore Duxton, a luxurious hotel owned by Accor Group; new mixed-use developments like TMW Maxwell Residences (redevelopment of the Maxwell House, which was previously the Maxwell House) developed by Chip Eng Seng, SingHaiyi and Chuan Investment); Newport Residences (redevelopment of the former FujiXerox Towers) by City Developments as well as Skywaters Residences located at 8 Shenton Way (redevelopment of the former AXA Tower) by Alibaba and a consortium headed by Perennial Holdings. At 305m The 63-storey Skywaters Residences is expected to be Singapore’s highest building in Singapore when it’s completed.

In addition to these brand new mixed-use developments for residential and commercial use The area will also enjoy access with the Rail Corridor, Tras Link Park, and the Central Area’s cycling network, which is managed by the Urban Redevelopment Authority and Land Transport Authority. The neighborhood will benefit due to it’s proximity to planned Greater Southern Waterfront.

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A two-storey house located in the Torieview Mansions which is an apartment complex that is freehold located on Lorong 29 Geylang, will be auctioned off by the auctioneers at Knight Frank Singapore on April 20. A auction house, this property has a surface of 2,271 square feet and a suggested price that is $2.8 million. This is equivalent to $1,233 per square foot in the floor area.

The three-bedroom strata-landed home was one of the two conserving bungalows located on the freehold site prior to when the complex of apartments was built. Torieview Mansions which included two houses as well as an apartment block with eight floors was completed in the year 1995.

The access to the bungalows is via a double volume access point and a driveway which runs through the block of apartments.

A handful of renovated sites in Singapore are able to share this blend of old conservation structures and new residential developments, and the majority of them are condos rather than apartments, according to Knight Frank’s director of auction and sales for auctions as well as sale Sharon Lee. Redevelopments that incorporate conservation buildings include the luxurious Grand Duchess of St Patrick’s on St Patrick’s Road, Mountbatten Lights on Mountbatten Road, The Sea View at Amber Road, Draycott Eight at Draycott Park and Klimt Cairnhill on Cairnhill Road. A large number of the preserved bungalows were converted into clubhouses during these developments.

The 28,353 square feet site located at Torieview Mansions is categorised as an “site with buildings that are conserved” in the Geylang Secondary Settlement by URA. It is also among many conservation sites within Geylang Road Conservation Area. Geylang Road conservation area, that is bounded with Sims Way and Paya Lebar Road. A mixture of bungalows with low-rises and rows of shophouses are the main features of the architecture of the conservation area.

The time that Torieview Mansions was completed in 1995, the geometric pilaster was a feature of the bungalows. It featured beautiful grooves, grand capitals with moulded lines, and an amalgamation of modern and traditional styles. It was retained to fulfill the conservation need of the buildings.

Knight Frank’s Lee believes that this distinctive property is a great choice for owners who are attracted to the glamour and style of living in an historic property as well as investors who wish to add a small part of Singapore’s architectural history in their portfolio.

Additionally, the limited inventory of conservation properties offers buyers to benefit from an appreciation in capital property property can produce in the long term Lee says Lee. Lee says the property is also available to buyers from abroad.

Based on URA restrictions that neither bungalow has been sold in longer than twenty years. The house in the estate sale was purchased prior to 1995, however sales records for purchases made prior to this year aren’t available since they were not yet digitalized. The house next door was bought for $718,000 ($319 per sq ft) in 1999.

Torieview Mansions has recorded strong price increases over the last two decades. The month of March in 2003 saw the median price for the property was $412 per square foot. It climbed to $542 psf by March 2012, and then increasing to $1,085 psf in March of this year.

The efforts to conserve and restore in the Torieview Mansions were recognised at the URA Architectural Heritage Awards in 1996.