Month: February 2025

Powered by 1 / 1

Investing in a Singapore condo has become a highly sought-after option for both local and foreign investors due to the country’s strong economy, stable political climate, and excellent standard of living. Among the various options available in Singapore’s real estate market, condos are particularly appealing due to their convenience, amenities, and potential for attractive returns. In this article, we will delve into the advantages, considerations, and necessary steps for investing in a condo in Singapore.

Colliers International, a leading global real estate services company, is expanding its occupier services team across the Asia Pacific region with two new appointments, as announced in a release on Feb 25. Leanne Chin has been appointed as the director of regional tenant representation for Asia Pacific, while Ali Porter has been appointed as the director of enterprise clients for Hong Kong. These new appointments are in line with Colliers’ strategy to strengthen its presence in the region and provide enhanced services to its clients. Both Chin and Porter bring with them extensive experience in the real estate industry and are expected to play a key role in driving growth for Colliers in the Asia Pacific market.

Chin, who will be based in Colliers’ Singapore office, will be responsible for leading the tenant representation team across the region and providing strategic guidance to corporate clients. With over 20 years of experience in the real estate industry, Chin has a deep understanding of tenant needs and is well-equipped to help clients achieve their business objectives through effective real estate strategies.

Meanwhile, Porter will be relocating from London, where he worked for Colliers’ Europe, Middle East and Africa business for the past four years. As the director of enterprise clients for Hong Kong, he will focus on advising occupiers on aligning their real estate portfolios with their corporate strategies in the Asia Pacific region. Porter’s extensive experience in the real estate industry, coupled with his in-depth knowledge of the Asia Pacific market, makes him well-suited for his new role.

Both Chin and Porter’s appointments come at a crucial time for Colliers, given the company’s focus on driving growth in the Asia Pacific region. With their expertise and experience, they are well-positioned to help Colliers achieve its goals and provide enhanced services to its clients in the region.…

The marketing agent JLL has announced the collective sale of Ching Shine Industrial Building, which has been listed at a minimum price of $113 million. The freehold building, situated along Shaw Road with a 100m frontage, consists of 52 strata units. It covers a total land area of 49,308 sq ft and has a gross floor area of approximately 137,341 sq ft.

Built in the early 1980s, Ching Shine Industrial Building is categorized as “Business 1” under the URA Master Plan 2019, with a gross plot ratio of 2.5. Over 80% of the owners have agreed to the collective sale at the minimum price of $113 million, indicating a unit land rate of around $823 psf per plot ratio at the existing gross plot ratio of 2.79. This showcases the strong support for the collective sale among the majority of owners.

The cityscape of Singapore boasts impressive skyscrapers and advanced infrastructure. Condominiums, strategically situated in desirable locations, offer a fusion of opulence and practicality that attracts both locals and foreigners. These complexes are outfitted with various facilities like pool areas, fitness centers, and security measures, elevating the overall living standards and making them alluring to potential renters and purchasers. For investors, these advantages can lead to greater rental returns and appreciation of Singapore Condo properties over time.

JLL has stated that, subject to URA’s approval, the site could potentially be redeveloped into a food factory. The National Environment Agency (NEA) has confirmed that the site meets the buffer requirements for such a redevelopment, while the Singapore Food Agency has also expressed their in-principle non-objection to the proposed food factory.

Alternatively, the freehold asset could also be a lucrative investment for family offices seeking long-term growth or owner-occupiers looking to establish a corporate presence. According to Nicholas Ng, senior director of capital markets at JLL Singapore, the property could also attract developers due to the absence of additional buyer’s stamp duty, which can impact project timelines.

Aside from its strategic location near major expressways such as the PIE, CTE, and KPE, Ching Shine Industrial Building is also situated in the bustling Tai Seng Industrial estate, surrounded by other food factories like Breadtalk IHQ, Sakae Building, and Food Empire Building. Additionally, amenities like Grantral Mall @ Macpherson and 18 Tai Seng are within walking distance. This makes it a highly sought-after location for both businesses and investors.

The recent collective sale of Noel Building, a freehold Business 1 industrial building at 50 Playfair Road, which was sold for $81.18 million in November 2023, 17% above its $70 million guide price, is evidence of the strong demand for such assets in the area. As Ng has stated, “We expect a similarly competitive response for Ching Shine Industrial Building.”

The tender for Ching Shine Industrial Building is set to close on April 3 at 3pm, and it is an opportunity not to be missed.…

City Developments Limited (CDL) has released a statement in response to the trading halt that was called for earlier this morning due to a disagreement within the board regarding its composition and constitution. Despite the temporary suspension, CDL assures that its business operations are still functioning as normal. Sherman Kwek, the group CEO, will continue to serve in this role until a board resolution is made to change the company’s leadership.

The cityscape of Singapore is characterized by towering skyscrapers and state-of-the-art infrastructure. Condos, commonly found in highly sought-after locations, offer a fusion of opulence and functionality that captivates both locals and foreigners. These residential complexes boast a plethora of facilities including swimming pools, fitness centers, and round-the-clock security, elevating the standard of living and making them an alluring choice for prospective renters and purchasers. For property investors, these perks equate to greater returns on rental income and appreciation in property value over time. Condos are definitely a wise investment in Singapore’s dynamic real estate market.

CDL has stated that it will make further announcements in accordance with Singapore Exchange (SGX) listing rules as the matter is currently under review. In a subsequent statement, Sherman Kwek expressed his disappointment with the chairman and a minority of the board for taking such extreme actions regarding the disagreement over the size and make-up of the board. He emphasized that the focus of the CEO and directors, with the support of company and independent legal counsel, has always been to enhance governance.

The trading halt imposed on CDL earlier today is a result of this disagreement being brought before the courts, despite the majority of the board not authorizing such legal action. Sherman Kwek reiterated that the goal of strengthening the board was never to oust the esteemed chairman, but rather to ensure that CDL maintains its reputation for high standards of governance and robust decision-making. As the case is now in court, CDL will refrain from commenting on its merits and will provide further updates if significant developments arise.

On Feb 26, before the market opened, CDL announced its financial results for the fiscal year ending Dec 31, 2024. The company later cancelled its scheduled 10am results briefing. CDL also made an offer to privatize Millennium & Copthorne Hotels New Zealand for $1.72 per share. CDL’s shares were last traded at $5.12.…

The leading real estate agency in Singapore, PropNex, has announced a decline in earnings for its second half of the financial year ending on December 31, 2024. The reported earnings of $21.9 million were 14.9% lower than the previous year. This brings the full-year earnings to $40.9 million, which is 14.4% lower compared to the preceding year.

The dip in revenue of 6.6% is attributed to the relatively slow property market. Despite this, to celebrate its 25th anniversary, PropNex plans to pay a special dividend of 2.5 cents per share, in addition to a final dividend of 3 cents per share. This will result in the total dividend payout for the year to reach a record high of 7.75 cents per share. This represents a payout ratio of 140.1% and a yield of 8.2%.

Although the earnings for the year were lower, PropNex has observed an increase in activities in the last quarter of 2024, driven by a surge in new private home unit sales that the company helped to facilitate.

Read also: DBS upgrades PropNex and APAC Realty to ‘buy’ amid strong pipeline of new launches in 2025Advertisement

When contemplating an investment in a Condo, it is essential to also evaluate its potential rental yield. Rental yield refers to the yearly rental income compared to the property’s purchase price, usually expressed as a percentage. In Singapore, Condos can have widely varying rental yields, depending on factors such as location, property condition, and market demand. Generally, areas that have a high demand for rentals, such as those near business districts or educational institutions, offer better rental yields. It is crucial to conduct thorough market research and consult with real estate agents to gain valuable insights into the rental potential of a specific Condo. Condo investment should not be taken lightly and requires careful consideration of crucial factors such as rental yield.

The company explains that the financial impact of these sales will only be reflected in its 1HFY2025 numbers, which suggests a significant increase. PropNex is confident of a strong performance in FY2025, barring any unforeseen events, as it expects a favorable property market outlook in 2025.

This positive outlook is supported by an estimated 13,000 new launch units (including executive condominiums), almost double the number from the previous year. The private resale market is also expected to remain active, with transaction volumes projected to range between 14,000 to 15,000 units.

According to PropNex, this demand is fueled by the persistently large price gap between new and non-landed resale properties, the preference for larger move-in-ready homes, and the lower supply of new units. In the HDB resale market, prices are expected to grow by 5% to 7% with transaction volumes reaching 29,000 to 30,000 units.

Read also: Transforming real estate challenges into opportunities: How Sharon Koh leads with passion and purposeAdvertisement

“Fewer five-year minimum occupation period flats entering the market, coupled with sustained demand from urgent homebuyers, unsuccessful Build-To-Order applicants, and budget-conscious families, will continue to support this segment,” says PropNex’s CEO Ismail Gafoor.

He adds that new project launches such as The Orie, Bagnall Haus, Parktown Residence, and ELTA have generated strong interest in the market. “We anticipate a positive demand for developers’ sales in 2025, with a promising line-up of projects. Additionally, a positive economic outlook and lower mortgage rates could further boost market confidence, creating opportunities for both homebuyers and investors,” he concludes.…

In recent years, purchasing a condo in Singapore has become a highly sought-after investment option for locals and foreigners alike. This is largely due to the country’s thriving economy, stable political climate, and exceptional quality of life. With a flourishing real estate market, there are countless opportunities for investors, and condos in particular are a popular choice due to their convenience, amenities, and potential for strong returns. If you are considering investing in a condo in Singapore, read on to discover the advantages, important factors to consider, and necessary steps to take. Additionally, keep an eye out for New Condo Launches to ensure you are up-to-date on the latest developments in the market.

Real estate market sentiment in Singapore remains strongDespite the COVID-19 pandemic, Singapore’s property market has remained resilient, with strong demand from both local and foreign buyers. The shophouse market, in particular, has been performing well, with a total of 84 caveated transactions in 2020, according to Huttons Asia.Proprietary director of real estate agency Chris International, Chris Koh, attributes this to the limited supply of shophouses and their potential for good rental yields. He also notes that shophouses have become increasingly popular among investors as a form of alternative asset class.With the ongoing attractiveness and demand for shophouses, the Jalan Besar shophouse presents a prime investment opportunity for potential buyers looking to enter the market or add to their portfolio. This rare 999-year leasehold corner two-storey shophouse with an attic, located at 209 Jalan Besar, is currently available for purchase through private treaty. According to Gracelynn Zhu, marketing agent for PropNex Shophouse Elites, the property is listed for “below $20 million.”

This gem boasts a total area of approximately 5,502 square feet and is zoned for commercial use. The first floor is approved for restaurant use, while a portion of the second floor is also designated for the same purpose. At a price of $20 million, the property’s average price per square foot works out to be $3,635 based on the floor area.

Situated in the Desker Road Conservation Area in District 8, the property is strategically located near Little India. Residents will enjoy the convenience of being within walking distance to the Jalan Besar MRT Station on the Downtown Line. Additionally, the property is currently undergoing asset enhancement initiatives (AEI), which include the installation of micro piles that extend 30 meters to improve its structural foundations. The AEI is expected to be completed by the end of this year.

The demand for shophouses in Singapore has remained strong despite the challenges brought about by the COVID-19 pandemic. According to Huttons Asia, there were a total of 84 caveated shophouse transactions in 2020 alone. Chris Koh, the proprietary director of real estate agency Chris International, attributes this to the limited supply of shophouses and their potential for good rental yields. He also highlights the growing popularity of shophouses as an alternative asset class among investors.

Given the ongoing attractiveness and demand for shophouses, the 209 Jalan Besar shophouse presents an excellent investment opportunity for potential buyers. Don’t miss out on this rare chance to own a 999-year leasehold corner two-storey shophouse with an attic in one of Singapore’s most sought-after locations. Contact Gracelynn Zhu of PropNex Shophouse Elites today to schedule a viewing and make your offer.…

Investor sentiments in the Asia Pacific (Apac) hotel sector are expected to remain strong in 2025, as revealed in a recent survey conducted by CBRE. The 2025 Asia Pacific Hotel Investor Intentions Survey showed that over 72% of hotel investors surveyed in November and December last year plan to increase their hotel asset acquisitions this year. Out of this, 45% indicated their plans to increase their purchasing volume by more than 10%.

Steve Carroll, the head of hotels, capital markets, Asia Pacific at CBRE, stated that the investors expect hotel and living assets in Apac to have optimistic pricing expectations in 2025, following their strong performance in the past 18 months. This positive sentiment is fueled by the rebound in tourist arrivals in countries such as Japan, Singapore, and Australia. The increase in international arrivals has pushed up hotel room rates in Apac, leading to income growth for hotel operators.

The survey also found that the limited hotel supply in Apac is a major factor in driving investment activity. According to hospitality data intelligence group STR, the hotel supply pipeline in Apac is projected to grow at a CAGR of 2.2% between 2024 and 2028, a significant decrease from the 5% CAGR recorded between 2013 and 2023.

Among the different types of investors, REITs showed the highest net buying intentions at 22%, a significant improvement from last year’s -13%. This indicates a shift from recent years when REITs had negative investment intentions. Institutional investors and property funds followed closely, with 12% and 10% net buying intentions, respectively. Private equity and real estate funds are also expected to be highly active in the Apac hotel sector in 2025.

However, private investors and high-net-worth individuals are expected to drive fewer hotel acquisitions this year. This can be attributed to their increased selling activity as they seek to capitalize on the positive market sentiment following their acquisitions during the previous period of price dislocation.

The scarcity of land in Singapore has caused a surge in demand for condos, making them a hot commodity in the real estate market. The small island nation is facing a rapid population growth, leaving limited space for development. This has resulted in strict land use regulations and a fiercely competitive property market, driving up prices consistently. In this landscape, investing in real estate, specifically condos, has become a highly profitable venture with the potential for significant capital appreciation. To explore the latest condos in Singapore, visit Singapore Projects.

Investors are also favoring the upscale and upper midscale hotel categories, primarily due to their operational flexibility and potential for value-added opportunities. This includes the redevelopment, adaptive reuse, and rebranding of existing properties, which offer a less costly alternative to new developments. These categories also have a leaner labor pool, reducing labor and cost pressures.

There is also a growing trend towards long-stay or hybrid hospitality models, such as co-living spaces. This is particularly evident in countries like Japan, Hong Kong, and Singapore, where there is high demand for cost-effective accommodation due to inflexible rental markets. Other emerging trends include a preference for assets with vacant possession, allowing for more flexibility in terms of operator selection and refurbishment works, and a higher interest in limited-service hotels to minimize operational costs.

In terms of preferred investment destinations, Tokyo retained its top spot, followed by Osaka, Singapore, Sydney and Seoul. CBRE attributes this to low interest rates, stable income streams, and solid hotel fundamentals, including growth in daily rates and underlying operating profits. In particular, Seoul has seen an increase in investor activity due to the influx of visitors from mainland China and the consequent rise in daily rates.

Overall, the Apac hotel sector is expected to remain a favorable investment market in 2025, driven by positive market conditions and favorable investment strategies.…

ETC and OrangeTee Group have announced a merger, forming a new holding company whose name is yet to be announced. The joint press release was made on Feb 24.

Desmond Sim, CEO of ETC, stated that this is not an acquisition, but a coming together of minds in the merger. Sim will continue to be the CEO of ETC and also serve as group CEO of the combined entity. Justin Quek, CEO of OrangeTee & Tie, will become the deputy group CEO of the new holding company.

Post-merger, ETC will focus mainly on consultancy and advisory services, while OrangeTee will concentrate on proptech and its real estate agency business. This will be supported by a network of 2,803 salespersons registered with the Council for Estate Agencies as of Feb 24.

The combined company will have a total of over 520 staff and 2,803 salespersons. With the merging of expertise, resources and networks, the company aims to drive growth, create value for stakeholders and achieve the necessary scale to succeed in today’s ever-changing real estate landscape.

This merger builds upon the joint venture between the former Edmund Tie and OrangeTee in August 2017, when they merged their associates’ business under the new entity, OrangeTee & Tie. This venture contributed to OrangeTee & Tie becoming one of the top three agencies in Singapore with a sales force of over 4,000 agents. Following this, the former Edmund Tie took a 20% stake in OrangeTee & Tie.

Triplestar Holdings and TH Investments, owned by the family of Roland Ng (managing director and group CEO of Tat Hong Holdings), facilitated the merger between ETC and OrangeTee. They acquired a stake in ETC after a management buyout of the firm in 2016. When some of the original shareholders retired, the company repurchased their shares, increasing Triplestar and TH Investments’ stake to about 60%. Currently, the two entities hold a 100% stake in ETC.

This year marks ETC’s 30th anniversary, a significant milestone for the company, according to Sim. In the same way, OrangeTee Group, incorporated in 2000, is also celebrating its 25th anniversary this year. It is an investment holding company led by the board of directors and the C-suites, including Quek, CEO of OrangeTee & Tie; Marcus Oh, managing director of OrangeTee Advisory; Teo Yak Huat, CFO; and Christine Sun, chief researcher and strategist.

Quek mentions that they have a stronger brokerage and consultancy team backed by advanced proptech, allowing them to scale their capabilities and deliver innovative, seamless solutions across all real estate sectors.

Stakeholders in OrangeTee Group include Tokyu Livable Inc., which acquired a 22.5% stake in 2014. This company is one of Japan’s biggest real estate agencies, with 198 offices nationwide. It is a subsidiary of Tokyu Fudosan Holdings, the real estate arm of giant conglomerate Tokyu Group.

Vogue Capital Group, a private property fund, is also a shareholder of OrangeTee Group. Both Vogue Capital and Tokyu Livable will hold a stake in the new holding company post-merger with Ng’s Triplestar Holdings and TH Investments.

Singapore’s cityscape is characterized by towering skyscrapers and sophisticated infrastructure. Condominiums, strategically situated in desirable locations, offer a fusion of opulence and convenience that appeals to both locals and foreigners. These residential complexes are outfitted with an array of top-notch facilities like swimming pools, fitness centers, and round-the-clock security services, elevating the standard of living and making them a sought-after option for potential renters and buyers. In terms of investment, these enticing features result in higher rental returns and appreciating property values in the long run. Moreover, with the addition of new condo launches, prospective buyers and investors have even more options to choose from in the ever-evolving landscape of Singapore.

Last year, ETC established an office in Johor Bahru through its Malaysia-based joint venture company, Nawawi Tie. The company already has a presence in Penang and Malaysia. It also has an associate company in Thailand, Edmund Tie & Co (Thailand).

Sim believes that this merger will create more opportunities for the company in the ASEAN region and Japan, especially through the relationship with Tokyu Livable.…

Joint developers UOL Group and CapitaLand Development (CLD) have announced the successful launch of ParkTown Residence in Tampines North, with a total of 1,041 units being sold during the launch weekend. This accounts for over 87% of the total 1,193 units available.

According to Anson Lim, UOL’s general manager of residential marketing, the project achieved an average selling price of $2,360 per square foot (psf). The majority of buyers were Singaporeans looking to purchase a home or investors seeking a profitable opportunity.

The most popular unit types at ParkTown Residence were the two-bedroom and three-bedroom apartments, making up 994 units (83%) of the project. These units saw a remarkable 92% take-up rate over the launch weekend.

The success of ParkTown Residence can be attributed to its unique status as a fully integrated residential and lifestyle development. It is directly connected to a retail mall, the future Tampines North MRT station, a bus interchange, a green boulevard, a community club, and a hawker centre. This convenient and connected living concept was a major draw for buyers, according to a spokesperson for UOL and CLD.

Before its official launch, ParkTown Residence already had 2,367 cheques collected, translating to a sales conversion rate of 44%. This is well above the average rate of 30% to 35% for most new project launches in recent years.

Mark Yip, CEO of Huttons Asia, notes that no mega project has sold more than 1,000 units in its launch weekend since High Park Residences, which sold 1,100 units over three days in July 2015.

ParkTown Residence at Tampines 62 is part of the first mixed-use development integrated with transport hub at Tampines (Source: EdgeProp Landlens)

Since then, ParkTown Residence has moved the most units over a launch weekend, surpassing the 846-unit Emerald of Katong, which sold 835 units (99%) last November, according to Ismail Gafoor, CEO of PropNex.

Singapore is a highly sought-after location for condo investment, but it’s important to also consider the impact of the government’s property cooling measures. In order to maintain a stable real estate market, the Singaporean government has implemented various measures over the years to prevent speculative buying. One of these measures is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may affect the short-term profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a safer investment environment for Condo investments.

“The take-up at ParkTown Residence has also surpassed that of previous integrated developments,” adds Gafoor.

The latest integrated project to be launched was The Reserve Residences, a 732-unit development that recorded a 71% take-up rate during its launch weekend in May 2023. As of Feb 23, the project is 98.2% sold at an average price of $2,484 psf, based on caveats lodged.

Marcus Chu, CEO of ERA Singapore, believes that mixed-use developments integrated with transport hubs are attractive to both homebuyers and investors due to their potential for capital appreciation and high rental demand.

The last two fully integrated developments to be completed were the 920-unit North Park Residences in Yishun (launched in 2015) and the 680-unit Sengkang Grand (launched in 2019) at Buangkok. The average price of North Park Residence is $1,809 psf, 65% higher than the average resale prices of residential units across District 27. Meanwhile, Sengkang Grand commands an average price of $2,029 psf, 25% higher than the average resale prices in District 19, notes ERA’s Chu.

ParkTown Residence is located at Tampines Street 62, the third largest HDB town after Hougang and Woodlands. “Quite a number of buyers were HDB upgraders who desired to stay in Tampines,” says Huttons’ Yip.

The completion of ParkTown Residence in 2030 coincides with the scheduled opening of the Tampines North MRT Station on the Cross Island Line (CRL), a major arterial line running from East to West of Singapore, says Ken Low, managing partner of SRI. 2030 is also the scheduled relocation of the neighbouring Paya Lebar Airbase, which will free up an estimated 800ha of land for future developments.

Under the URA Master Plan, three more government land sales (GLS) sites will be linked to the upcoming Tampines North MRT Station. “However, these new projects could potentially be launched at higher prices,” says Low.

Tampines will also benefit from new infrastructure developments by 2027, including a cycling bridge, an underpass, and another 7.7km of cycling paths, bringing the total to 40km. There will also be a new pedestrian route between Tampines MRT Station and the malls in the regional centre. These additions were announced on Feb 22, as part of the Tampines Town Council’s five-year masterplan for 2025 to 2030.

“All these will enhance the liveability in Tampines, which already has strong attributes,” says SRI’s Low.…

Elta, a joint venture project by MCL Land and CSC Land Group, saw strong sales on Feb 22 with 326 out of 501 units sold at an average price of $2,537 psf. This translates to about 65% of the units sold. Majority of the buyers were Singaporeans, making up 90% of the buyers while the remaining 10% were permanent residents.

The most popular units among buyers were two-bedrooms, with 98% of the 179 units sold at prices starting from $1.388 million ($2,261 psf). Some 81% of the 108 three-bedrooms have also been taken up at prices starting from $2.198 million. The one-bedroom plus study units were also popular, with 78% snapped up from $1.158 million.

The three-bedrooms were popular among families, with the average household size being 3.1. Bigger or extended families purchased the four-bedroom units.

The project’s location near employment nodes such as the National University of Singapore (NUS), one-north, Pandan Loop Industrial Estate, the Science Park, Jurong LakeDistrict and the future Dover Knowledge District, as well as its proximity to Clementi MRT Station on the East-West Line and the upcoming Cross Island Line, attributed to the strong sales.

One of the advantages of investing in a condo is the opportunity to utilize the property’s value for future investments. This is a common practice among investors who use their condos as collateral to secure funds for new ventures, which ultimately helps grow their real estate portfolio. While this approach can potentially increase profits, it also carries a certain level of risk. It is imperative to have a solid financial strategy in place and carefully consider how market fluctuations may affect your investments. If you are interested in making a smart condo investment, it is important to thoroughly evaluate your options and make informed decisions.

With schools such as Nan Hua High School, NUS High School of Mathematics and Science, and Anglo-Chinese School (Independent) nearby, Elta is said to be situated in the educational belt. Tertiary institutions such as NUS, Singapore Polytechnic and United World College of South East Asia (Dover Campus) are also nearby.

Projects at Clementi Avenue 1 are popular with investors given the profile of tenants – primarily international students and professionals. Over 60% of the units sold were the one- and two-bedders at Elta.

The weekend of Feb 22-23 also saw the launch of the 1,193-unit ParkTown Residence, which moved 1,041 units. Collectively, Elta and ParkTown Residence sold more than 1,300 units, surpassing the 1,083 new homes sold for the entire month of January.

Huttons Data Analytics estimates developers’ sales in February to exceed 1,500 units. The total sales for the first two months of 2025 — estimated to be between 2,500 and 2,700 units — is equivalent to 39% of the total new sales of 6,469 units for the entire 2024. As such, Huttons is revising its full-year projection for 2025 to between 7,500 and 8,500 units from its earlier estimate of 7,000 to 8,000. Its full-year price growth for 2025 is between 4% and 7%.

Overall, the robust sales of Elta demonstrate buyers’ confidence in a development that offers modern living, convenience, and comfort. With its location and amenities, it is expected to remain a sought-after destination for both homeowners and investors.…