Latest news with #RobertsonOpus
Straits Times
2 days ago
- Business
- Straits Times
Fresh launches drive surge in new private home sales in July
Sign up now: Get ST's newsletters delivered to your inbox Lyndenwoods sold 96.5 per cent of its 343 units in July at a median price of $2,463 per sq ft (psf). SINGAPORE – Sales of new private residences rebounded in July after four straight months of decline, spurred by a pick-up in new condominium launches. Excluding executive condominiums (ECs), 940 new private homes were sold in July, up from 272 units in June, according to Urban Redevelopment Authority data. Developers launched 1,675 units in four projects in July, a significant increase from the 187 units over two launches in the month before. July's sales were 63.2 per cent higher than the 576 units sold in the same month in 2024. Including ECs, new private home sales surged to 1,311 units in July from 305 units in the previous month. Mr Marcus Chu, chief executive of real estate agency ERA Singapore, said the uptick in sales was led by the launch of Lyndenwoods in the Science Park district, which sold 96.5 per cent of its 343 units in July at a median price of $2,463 per sq ft (psf). 'Investors may have been attracted by the opportunity to be first movers in the Singapore Science Park area, a city fringe location,' he said, noting that two-bedroom units were popular among buyers. Top stories Swipe. Select. Stay informed. Singapore Ong Beng Seng fined $30k for abetting former minister Iswaran in obstructing course of justice Asia Sun Haiyan, ex-China ambassador to S'pore, detained for questioning: Sources Singapore Jail for drink-driving cop in hit-and-run accident, victim suffered multiple fractures Life How do household bomb shelters in Singapore really work? Asia Johor authorities seize four Singapore-registered vehicles over illegal e-hailing Singapore Owners call for stronger management rules in ageing condos, but seek to avoid being overburdened In the prime district, two of the three new projects led to more home sales in central Singapore in July. The Robertson Opus, a 348-unit development in Unity Street, and the 301-unit Upperhouse in Orchard Boulevard were launched at median prices of around $3,300 psf. Buyers snapped up 53 per cent of the units at Upperhouse, while 41 per cent of The Robertson Opus units were also sold during their launch weekend on July 19 and 20. Mr Leonard Tay, research head of real estate consultancy Knight Frank Singapore, said local home buyers are expected to support sales in the prime home market segment – largely for their own stay – as the additional buyer's stamp duty rate of 60 per cent for foreigners continues to deter non-residents. 'With these launches in the core central region, there is an observable shift in buyer sentiment from previous positions of muted interest to a growing willingness to consider a reasonable premium for new product,' he said. The third project launch in the prime district, W Residences Marina View Singapore, sold only two of its 683 units in July at a median price of $3,344 psf. Mr Nicholas Mak, chief research officer at property search portal said the poor sales could be due to foreign buyers giving the Singapore property market a miss, and local buyers becoming more price-sensitive due to economic headwinds. In the EC segment, 371 units were sold, led by the launch of Otto Place, a 600-unit development in Tengah. The project sold 358 units at a median price of $1,746 psf in July. There were 253 unsold new EC units as at July 31. Ms Wong Siew Ying, head of research and content at property agency PropNex Realty, said this number is expected to decline significantly when the sales booking at Otto Place opens to more second-time buyers in August. Buyer interest in the luxury condominium market surged in July, said Ms Christine Sun, chief researcher and strategist at Realion Group. A total of 29 condo units were sold at between $5 million and $10 million in July, an increase from the 11 units moved in June, she noted. But sales of ultra-luxury condos were more subdued, with two units transacted at above $10 million each, compared with four in the previous month. 'More high-net-worth individuals may park their funds in real estate moving forward as macroeconomic uncertainties stemming from the US tariff policies persist,' she added. The most expensive non-landed home was a 10,452 sq ft unit at 21 Anderson, near Orchard Road, which transacted at $52.3 million. Property analysts expect private home sales to remain robust in August as more new projects are launched. Five condo projects are expected to be launched this month, yielding 2,472 units, said Mr Lee Sze Teck, senior director of data analytics at real estate firm Huttons Asia. Three condo projects – River Green and Promenade Peak in River Valley, and Canberra Crescent Residences – have sold a total of 930 units to date, he noted. The other two developments are the 941-unit Springleaf Residence in Upper Thomson and Artisan 8, a freehold mixed-use development in Sin Ming with 34 units.
Business Times
2 days ago
- Business
- Business Times
Developers' sales surge 250% on month to 940 units in July on flood of new condo launches
[SINGAPORE] Developers in Singapore sold 940 private homes in July, up 245.6 per cent from the month before, and 63.2 per cent from the 576 units a year earlier, data released by the Urban Redevelopment Authority showed on Friday (Aug 15). Analysts said the surge in transactions came as new condo launches flooded the market after the seasonal lull in June. They also noted that buyers were unfazed by the recent upward revision of seller's stamp duty rates and the extension of the holding period to a fourth year. The top seller during the month was Lyndenwoods, CapitaLand Development's first residential project at the Singapore Science Park, which sold 97 per cent or 331 of its 343 units, at a median price of S$2,463 per square foot, said Knight Frank Singapore's head of research Leonard Tay. New launches in the Core Central Region (CCR) – The Robertson Opus and Upperhouse at Orchard Boulevard – also sold 'extremely well', highlighting the resilient demand for prime CCR homes and strong fundamentals in Singapore's property market, said Huttons Asia's senior director of data analytics Lee Sze Teck. The Robertson Opus and Upperhouse chalked up sales of 59 per cent and 43 per cent, respectively, Tay pointed out. 'With these launches in the CCR there is an observable shift in buyer sentiment from previous positions of muted interest to a growing willingness to consider a reasonable premium for new product,' he added. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Despite the strong sales in CCR projects, the proportion of sales priced above S$2.5 million was 44.3 per cent last month, compared with 50.7 per cent in June 2025, said Lee. 'Developers had priced their projects below the sweet spot price which helped to lift sales of CCR projects.' Including executive condominiums (ECs), 1,311 units were sold in July with 2,275 units launched, versus the 613 units sold and 616 units launched in the same month in 2024. In comparison, 305 units were sold and 103 units were launched in June 2025. Among the three segments, the Rest of Central Region led in condo and private apartment sales, accounting for 54.5 per cent of sales. This was followed by the CCR, which accounted for 38 per cent of primary sales, and the Outside Central Region, which made up 7.4 per cent of new sales last month. Singaporeans made up 85.7 per cent of buyers in July, while permanent residents accounted for 12.4 per cent, said Lee.
Business Times
07-08-2025
- Business
- Business Times
Frasers Property logs S$1.4 billion in regional pre-sales, says it's well-placed to manage upcoming debt
[SINGAPORE] Frasers Property has achieved pre-sold revenue of S$1.4 billion so far in financial year 2025 for its projects in Singapore, Australia, China and Thailand, the real estate group said on Thursday (Aug 7), in a business update for its third quarter ended June. In Singapore, the group said the residential market remains resilient, underpinned by strong homeownership rates and continued investment appeal. It also noted that residential sales volume rose year on year, driven by a pickup in private residential launches in Q2 and a moderation in interest rates. For the first nine months of FY2025, the group sold 712 units in the city-state, with unrecognised revenue amounting to S$400 million as at end-June. Among its developments, 41 per cent of the units at the Robertson Opus were sold; at The Orie in Toa Payoh, the figure was 91 per cent. Meanwhile, Sky Eden@Bedok is on track for completion by the first quarter of FY2026. In Australia, the group noted that mean dwelling prices rose in Q2, and that residential housing demand improved following recent interest rate cuts. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Unrecognised revenue there stood at S$500 million as at Jun 30, with 1,672 contracts on hand, it said. Frasers also highlighted proactive leasing strategies and the portfolio repositioning of its office assets to mitigate softer occupancy and valuation pressures. It said office metrics weakened due to planned vacancies in Lee Street in Sydney, stemming from deliberate non-renewal of leases to support potential redevelopment. At Rhodes Quarter, also in Sydney, continued leasing efforts and tenant retention helped sustain weighted average lease expiry and occupancy levels despite challenging market conditions. The group noted that Thailand's residential segment remained subdued, though signs of improvement are emerging. In China, the residential portfolio delivered a stable performance, supported by steady sales and timely project completions. Frasers Property said it is well-positioned to meet all debt obligations due in the next 12 months, either through repayment or refinancing. As at end June, its net debt stood at S$15.3 billion, up 5.3 per cent from end September 2024. Its net debt-to-equity ratio worsened by 5.8 percentage points to 89.2 per cent. Frasers Property closed flat at S$0.955 on Thursday, before the announcement.
Business Times
01-07-2025
- Business
- Business Times
Frasers Property, Sekisui House launch The Robertson Opus with prices from S$3,150 psf
[SINGAPORE] Property developers Frasers Property and Sekisui House opened The Robertson Opus along Unity Street for a private preview on Wednesday (Jul 2), with public previews beginning this weekend. Prices will start from S$3,150 per square foot (psf). Located at Robertson Quay in District 9, the 999-year mixed-use development comprises 348 homes across five blocks of up to 10 floors. One block consists of just studios and one-bedroom units – primarily for investors looking to rent and others who wish to rightsize their homes, said Kevin Siew, managing director for development management at Frasers Property Singapore, during a media tour on Monday. The other four blocks will see a mix of two, three and four-bedroom units. Prices will start at S$1.37 million for a studio of 431 square feet (sq ft), and S$1.58 million for a one-bedder of 495 sq ft. Two-bedders, sized 689 to 743 sq ft, are priced from S$2.17 million, and three-bedders, sized 926 to 1,152 sq ft, from S$3.1 million. Four-bedders span 1,539 sq ft, with prices starting at S$5.09 million. The project also includes a retail podium with around 26 commercial units on the first floor and basement. It will retain its name Robertson Walk. In total, the entire development spans a land area of 9,102.7 square metres (sq m), with a maximum gross floor area of 30,663.6 sq m and a plot ratio of 3.37. It is a redevelopment of Frasers' serviced residence Fraser Place Robertson Walk and its adjoining commercial area, Robertson Walk – undertaken by Frasers Property and Japanese developer Sekisui House in a 51:49 joint venture. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Siew noted that some tenants that were previously at Robertson Walk have moved to new locations. But, since Frasers' redevelopment will take three to four years, which is the length of most tenancy contracts, it would be 'perfect timing' for the developer to woo back the former tenants, he said. Marketing for the new Robertson Walk will begin in only another two years, given the project's expected completion in 2029. 'We (also) have a very big retail portfolio with around 2,000 leases… as the largest suburban owner-operator of shopping malls (in Singapore),' he added. 'I think that competitive advantage allows us to reach out to a much wider pool of tenants.' First in some time The Robertson Opus will be the first private home launch in the Robertson Quay area since 2019, when Frasers Property's Riviere was marketed. Prices for the 99-year leasehold condominium along Jiak Kim Street started at S$2,580 psf then. Since then, new units have sold at a median price of S$2,822 psf, while sub-sales and resales recorded a median price of S$2,869 psf. The Robertson Opus is also the first 999-year leasehold residential development launched in the neighbourhood in nearly 20 years, and is the only 'essentially freehold' launch this year, noted Siew. The last project with a 999-year tenure launched in its vicinity was the 186-unit The Wharf Residence in 2008. Caveats data showed that the median price of resale transactions in the project was S$2,361 psf in the year so far. Most recently, in late April, a 1,539 sq ft unit changed hands for S$3.68 million or S$2,388 psf. Four new 99-year leasehold projects will be coming up on state land sites tendered in the River Valley Green and Zion Road area. Two of these – Promenade Peak and River Green – are expected to be marketed in the current quarter, while a third, Zyon Grand, could be launched around October. Siew said freehold projects in the prime Core Central Region (CCR) are currently undervalued, with the price gap between the CCR and city fringe narrowing significantly in the past few years. According to statistics from ERA Research, the price difference between newly sold non-landed homes in the CCR and Rest of Central Region (RCR) was just S$59 psf in the first half of 2025. In comparison, the price gap was S$559 in 2024, S$458 psf in 2023, S$569 psf in 2022, and S$682 psf in 2021. Also, the price index of non-landed homes in the CCR has risen 17.9 per cent since 2019, versus the more than 50 per cent increase in both the RCR and Outside Central Region. Siew noted that it is therefore the 'right time' to launch The Robertson Opus, instead of holding it back any further or launching it any earlier. The property, being part of Frasers' land bank, also gives the developer the opportunity to time the market as such. 'We very much intend for (The Robertson Opus) to be the best-selling project in the CCR this year,' he added. Public previews for The Robertson Opus will begin on Jul 5, with sales booking commencing on Jul 19. The project is expected to receive its temporary occupation permit in the first half of 2029, and its expected vacant possession date on Jun 30, 2030.
