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Blog, Buy Condominium in Singapore, Real Estate, Resale Condominium, Resale HDB

Singapore’s Silicon Valley – One North

Singapore’s one-north district stands as a testament to the nation’s commitment to innovation and high-tech industries. Conceived in the early 2000s by JTC Corporation, this sprawling hub encompasses eight distinct precincts, each tailored to foster collaboration and growth in sectors like biomedical sciences, information and communications technology (ICT), and media. Unlike traditional business parks dedicated to single industries, one-north thrives on a dynamic ecosystem that encourages cross-sector synergy—a crucial element for research and knowledge-driven enterprises. Over the past two decades, the Singapore government has consistently allocated about 1% of its GDP annually to research and development (R&D). This unwavering investment has borne fruit, with one-north evolving into a vibrant community of over 400 leading companies and 800 start-ups, collectively employing around 50,000 knowledge workers. The district has attracted upwards of $8 billion in investments, solidifying its reputation as a burgeoning “Silicon Valley” of the East.​ERA A prime example of one-north’s success is Biopolis, the district’s inaugural cluster dedicated to biomedical R&D. Serving as a collaborative platform for both private and public scientific communities, Biopolis houses research institutes and laboratories for pharmaceutical and biotech companies. Notably, Wilmar International established its global headquarters here, and in 2014, Procter & Gamble unveiled a $250 million innovation center within the precinct. The recent completion of Biopolis Phase 6, known as Elementum, in December 2023, adds a 12-storey facility offering semi- and fully-furnished laboratories, catering to the growing demand from smaller firms seeking ready-to-use research spaces.​ Beyond its role as a research hub, one-north embodies the “work-live-play-learn” philosophy. The Wessex Estate, for instance, provides housing options, including conserved black-and-white bungalows, for professionals working in the vicinity. The district also boasts co-living spaces, serviced apartments, hotels, and condominiums, fostering a sense of community among its diverse inhabitants. Educational institutions like INSEAD Asia Campus, ESSEC Business School, and Unilever’s training center at Nepal Hill further enrich the “learn” component of this integrated ecosystem One-north exemplifies Singapore’s strategic vision of nurturing a knowledge-based economy. By seamlessly integrating research, business, residential, and educational facilities, it has cultivated an environment where innovation flourishes, and enterprises thrive. As it continues to evolve, one-north stands poised to reinforce its position as a pivotal player in the global high-tech and innovation landscape Biomedical, sciences and research Biopolis was the first precinct to take shape in one-north, and it set the stage for the district’s reputation as a hub for biomedical research and development. Designed to foster collaboration between the private and public sectors, it houses research institutes and labs for pharmaceutical and biotech companies, making it a key player in Singapore’s life sciences scene. Beyond just big-name corporations, Biopolis also caters to specialised research institutes focused on areas like neuroscience, immunology, and pre-clinical trials. It’s no surprise that global heavyweights have made their home here—Wilmar International set up its global HQ in Biopolis, and in 2014, Procter & Gamble pumped $250 million into its innovation centre within the precinct. The latest addition to this ecosystem is Biopolis Phase 6 (Elementum), completed in December 2023. This 12-storey biomedical science facility offers both semi- and fully-furnished labs, addressing the growing demand for ready-to-use research spaces. This setup is especially beneficial for smaller firms working in the supply chain of MNCs, allowing them to be in close proximity for seamless collaboration. While Biopolis is the go-to hub for biomedical sciences, Fusionopolis serves as the nerve centre for ICT, physical sciences, and engineering R&D. It’s home to a mix of organisations, high-tech firms, and government agencies, including Linden Research (the creators of the 3D virtual world Second Life), Thales Technology Centre, A*STAR, and the Info-communications Media Development Authority (IMDA). Gaming hardware giant Razer has also established its SEA headquarters here, cementing Fusionopolis as a key innovation hub beyond just life sciences. Corporate HQ and Start Up Central Mediapolis is the beating heart of Singapore’s infocomm and media scene. It’s home to major production studios, including Mediacorp Campus and Infinite Studios, a massive 1.2-hectare soundstage facility. The district also features ALICE@Mediapolis, a privately developed smart business park designed for start-ups and established media firms looking for a dynamic and sustainable workspace. Right across from Mediapolis sits Grab’s massive 9-storey headquarters. Spanning over 42,000 square metres, the Grab HQ houses around 3,000 employees, a cutting-edge R&D centre, and the first-ever GrabMerchant centre—a dedicated space to support Grab’s growing network of business partners. Just next door, LaunchPad and Ayer Rajah have established themselves as the go-to precincts for start-ups, incubators, and companies in emerging industries. LaunchPad, often called the cradle of Singapore’s start-up scene, was designed as a testing ground for new ideas. The concept of clustering similar businesses together fosters a highly collaborative environment, allowing entrepreneurs to share resources, connect with ecosystem partners, and scale up faster. The results speak for themselves—some of Singapore’s biggest start-up success stories, including Carousell, 99 Group, ShopBack, and IglooHome, all took off from LaunchPad. With a thriving mix of start-ups, venture capitalists, and accelerators, it remains one of the best places in Singapore to turn an idea into reality. Institutes of Higher Learning The one-north precinct is well-connected by two MRT stations—Buona Vista and one-north, making it easy to get around. Surrounding these stations, as well as key areas like Biopolis, Media Circle, and Rochester Park, you’ll find a variety of amenities catering to both professionals and residents. Education and innovation go hand in hand at one-north, thanks to its proximity to top institutions like the National University of Singapore (NUS) and Singapore Polytechnic. With a strong emphasis on knowledge-sharing and collaboration, businesses—especially those in R&D—can easily tap into talent, research, and expertise from these institutions. This close-knit ecosystem fosters industrial-academia partnerships, helping companies stay ahead in innovation while providing students and researchers with real-world industry exposure. Singapore Science Park Nestled within the greater one-north district, Singapore Science Park is a key hub for R&D, biomedical sciences, and tech innovation. Home to over 350 multinational corporations, companies, and research labs, it’s one of Asia’s most prestigious addresses for cutting-edge industries. Its strategic

Singapore CBD
Blog, Buy Condominium in Singapore, Real Estate, Resale Condominium, Resale HDB

Singapore CBD Redevelopment: What Property Investors Need to Know

The Urban Redevelopment Authority (URA) has extended the Central Business District Incentive (CBDI) Scheme and Strategic Development Incentive (SDI) Scheme for another five years. These initiatives aim to rejuvenate Singapore’s CBD real estate by encouraging the redevelopment of aging commercial buildings into mixed-use developments in Singapore. For property investors in Singapore, this presents a golden opportunity to capitalize on the transformation of the city’s prime real estate. Understanding the CBDI and SDI Schemes CBD Incentive Scheme (CBDI) The CBD Incentive Scheme was first introduced in 2019 to incentivize the redevelopment of older office buildings into mixed-use properties. Targeting precincts like Anson, Cecil Street, Robinson Road, Shenton Way, and Tanjong Pagar, the scheme offers 25% to 30% additional Gross Floor Area (GFA) for qualifying properties. In the latest 2025 update, the URA has also allowed long-stay serviced apartments in CBD Singapore, particularly in Anson and Cecil Street, broadening the scope for developers and investors. Strategic Development Incentive (SDI) Scheme The SDI scheme is designed for strategic areas like Orchard Road and Marina Centre, focusing on large-scale collaborative redevelopment between adjacent buildings. This encourages urban rejuvenation by introducing new commercial, retail, and residential property investment opportunities in Singapore. Why These Schemes Matter for Property Investors The extension of these schemes will significantly impact the Singapore property investment landscape, creating redevelopment opportunities in Singapore’s CBD. Here are some key reasons why investors should take note: 1. Unlocking Redevelopment Potential Several buildings have already undergone transformation under these schemes, including: With the extended incentives, more aging office buildings could be redeveloped into Singapore mixed-use developments, unlocking higher property values and investment potential in Singapore’s CBD. 2. Rising Property Values in the CBD With increased incentives to redevelop, properties that once housed purely commercial offices will now feature a blend of residential units, commercial spaces, and serviced apartments. This will make CBD properties in Singapore more attractive to homebuyers and investors, leading to higher rental yields and capital appreciation. 3. Diversification of Investment Opportunities The transformation of the CBD into a 24/7 live-work-play district will create new opportunities for real estate investment in Singapore, especially in sectors like: This diversification will attract different types of investors looking for high rental yield properties in Singapore. Key Considerations for Investors and Developers While these schemes provide exciting opportunities, investors should carefully assess the following factors: Eligibility Criteria Properties must meet specific criteria, including a minimum age requirement of 20 years and site area conditions. Investors should verify these details before committing to a redevelopment investment in Singapore. Market Demand and Urban Trends Understanding the demand for mixed-use properties in Singapore is crucial. With more companies adopting hybrid work arrangements, the demand for traditional office spaces has declined, making residential and hospitality developments in the CBD more viable. Sustainability and Green Initiatives The URA encourages eco-friendly developments, so developers incorporating green building features and sustainable designs will benefit from government incentives and long-term value appreciation. The Future of CBD Real Estate Investment in Singapore With the Singapore government’s urban redevelopment plans, the CBD is set to become a dynamic, multi-functional district. Investors who act early and secure properties with redevelopment potential in Singapore’s CBD can enjoy significant returns in the years to come. Whether you’re a seasoned investor or exploring your first property investment in Singapore, understanding these schemes is crucial to making informed decisions. As Singapore’s urban landscape evolves, those who stay ahead of market trends will reap the benefits of capital appreciation and rental growth. Stay Updated on Singapore Real Estate Trends For more insights on Singapore property investment, new launch condos in Singapore, and high rental yield properties, stay connected with our expert updates. If you’re keen on exploring CBD redevelopment opportunities, get in touch with Dominic Choa Real Estate today!

Blog, Buy Condominium in Singapore, Real Estate, Resale Condominium

What are Integrated Developments?

Integrated developments are large-scale projects that combine multiple uses, such as residential, commercial, and transport hubs, into a single location. Compared with mixed developments, which also have commercial malls and residential units, integrated developments have the additional benefit of direct integration into an MRT station and / or bus interchange. This added advantage means that integrated developments typically command a premium over mixed developments. Imagine staying at an integrated development – you have the convenience of a supermarket, shopping mall, MRT station and bus interchange just seconds away from your doorstep! Whether you have a sudden bubble tea craving or need to buy food for a gathering that you are hosting, everything is within minutes from your home. Your children can attend enrichment classes while your elderly parents, who may be less mobile, need not walk a distance to socialise or run their errands. This is especially so if the integrated development includes a community centre where there are activities for them, or hawker centres for them to chit-chat and have their meals. Rain or shine, all your everyday needs can be settled by just taking the lift. In addition, malls that are part of integrated developments tend to be larger and better managed by the developer themselves or sold collective to another investor (e.g. REIT/fund). Proper mall management ensures a proper tenant mix in the mall which means you will have a wide variety of retail shops to choose from. With a curated tenant mix, the needs of residents are better catered to. Travelling also becomes a breeze – you can always take a direct bus or MRT train to work / school within air-conditioned comfort. Rare Status of Integrated Developments Currently, there are only nine integrated developments – six completed, two under construction and one more in Tampines North that is set to be launched in 1Q 2025. While the LTA has earmarked a further seven ITHs for the future, Hougang is the only site has been confirmed as an integrated development (includes a condominium). Across the nine integrated developments, there are a total of only 6,296 units.  Based on the island-wide stock of 341,131 private residential units, this means that just 1.8% of all non-landed private residential units are in integrated developments (as of 3Q 2024). Profitability of Integrated Developments Looking at recent integrated developments completed in the last five years (since 2019), both Pasir Ris 8 and Sengkang Grand Residences have seen 100% profitable transactions. Both Pasir Ris 8 and Sengkang Grand Residences have outperformed their counterparts from the same area. Based on their median price per square foot (psf), Pasir Ris 8’s grew 12.4%, higher than the 9.3% for the entire Pasir Ris Planning area. Similarly, Sengkang Grand Residences’ price grew by 18.1%, higher than the 17.2% recorded in Sengkang. With Singapore’s public transport network becoming increasingly comprehensive, coupled with the higher costs of car ownership, living near an MRT station is becoming increasingly important for home buyers. Moreover, given the low supply of new integrated developments, seeing such significant price growth is unsurprising. Hence, while integrated developments might come with a price premium, they also result in higher returns. High rental and strong rentability Having direct access to MRT station and bus interchange makes integrated developments highly sought after by tenants. For developments that are less than ten years old, these properties consistently command significantly higher premiums compared to their counterparts in the same area. Being close to the town centre, transport nodes, and amenities, their rents are typically higher. Integrated developments like Bedok Residences, Hillion Residences, Northpark Residences and Sengkang Grand Residences have achieved higher rental prices of over 12.7% to 49.2% as compared to other private condominiums in the district. Compass Heights and The Centris are the exceptions, due to the older age of the developments and the presence of newer developments in those region. As you might imagine, integrated developments are more expensive than non-integrated developments due to their conveniences. It is important to do due diligence to understand what is a fair price premium to pay the conveniences that an integrated development offers. If you are looking to invest into an integrated development in 2025, here is your opportunity! Parktown Residences at Tampines North is scheduled to launch in Feb 2025. It will be the largest integrated development in Singapore with over 1,193 residential units in addition to a mall, MRT station, bus interchange, community centre and hawker centre. If you are keen to explore Parktown Residences for your next home / investment property, connect with Dominic Choa Real Estate today!

How to Negotiate the Best Price for Your Resale Condominium in Singapore
Real Estate, Resale Condominium

How to Negotiate the Best Price for Your Resale Condominium in Singapore

How to Negotiate the Best Price for Your Resale Condominium in Singapore Singapore’s real estate market is dynamic, and resale condominiums are a popular choice among buyers looking for a blend of modern amenities and strategic locations. However, purchasing a resale condominium requires careful consideration and negotiation skills to secure the best price. This comprehensive guide will help you navigate the complexities of buying a resale condominium in Singapore, ensuring you make a well-informed decision. Understanding Resale Condominiums What is a Resale Condominium? A resale condominium refers to a unit in a private residential development that has been previously owned and is being sold by the current owner. These units are usually ready for immediate occupation and come with established surroundings and amenities. Types of Condominiums in Singapore Advantages of Buying a Resale Condominium Key Challenges When Buying a Resale Condominium Price Negotiation Financing and Additional Costs Property Condition Understanding Resale Levy for Executive Condominiums Negotiating the Best Price Research the Market Set a Budget Approach the Negotiation Strategically Engage a Real Estate Agent Resale Condominiums in Singapore Resale Condominiums in Central Core Region (CCR) Resale Condominium in Orchard Resale Condominium in Bukit Timah Resale Condominium in Marina Bay Resale Condominiums in Rest of Central Region (RCR) Resale Condominium in Queenstown Resale Condominium in Bishan Resale Condominium in Toa Payoh Resale Condominiums in Outside Central Region (OCR) Resale Condominium in Punggol Resale Condominium in Sengkang Resale Condominium in Jurong West Legal and Financial Considerations Understanding the Option to Purchase (OTP) Stamp Duties and Taxes Condominium Resale Certificate FAQs on Resale Condominiums in Singapore Do condos have good resale value? Yes, especially in prime locations or areas with upcoming developments. Can I buy resale if I own another condo? Yes, but ABSD will apply for the second property. Are condos good for flipping? Condos in high-demand areas with growth potential can be profitable for flipping. Can I sell my condo immediately after buying it? Yes, but be aware of Seller’s Stamp Duty (SSD) if sold within three years. Why is a condo better than HDB? Condos offer more privacy, better amenities, and higher investment potential. Who are condos best for? Young professionals, families seeking modern amenities, and investors. Which floor is best to live in a condo? Higher floors offer better views and reduced noise but may come at a premium price. Why is it better to live in a condo? Enhanced lifestyle, access to facilities, and the potential for higher property appreciation. Buying a resale condominium in Singapore is an excellent investment if done right. By understanding the market, negotiating effectively, and addressing key challenges, you can secure the best deal. Engage experienced professionals and stay informed about legal and financial aspects to ensure a seamless purchase experience. For personalized guidance on buying or selling a resale condominium in Singapore, connect with Dominic Choa Real Estate today!