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Filled with a sense of fulfilment, experienced interior designer Angelyn Wong started her career at Rezt+Relax right after graduation. After an apprenticeship of one year with one of the company’s creative leads, Angelyn is now a senior designer and still excited about her work. She designs interiors for smaller units and finds it to be a challenging but equally rewarding task.

An example of one of her projects is the creation of a hotel-like space for an overseas customer. Starting with a short brief, Angelyn explored various hotels in the world before designing the luxurious suite. While the bathrooms and kitchen were already furnished, she built cabinets into the wall next to the kitchen for additional storage and incorporated a standing bar with high chairs for casual dining. To create a maximalist feel without taking up more space, Angelyn used different textures on walls and finishings. Warm lighting panels on the stepped hidden ceiling were accompanied by bronzed mirrors in the dining space to make the area appear larger. Additionally, little accents of colours were added throughout the apartment to bring complexity to the space.

The bedrooms were designed with calming ambience in mind, using darker wood tones and shades of grey. To create a seamless and continuous feel, Angelyn applied the same texture on the walls to the supporting beams. Roman blinds were also added to soften the space and match its tones. The result was an apartment that was stunning in style and has a grand presence within a dense unit.

Anyone wanting to invest in a Condo should be fully prepared to hold onto it for the long-term. It could take three, five, or even ten years for property values to appreciate, so a quick buck is not guaranteed. To avoid any future financial troubles, invest only if you are sure you can afford to pay off the mortgage without difficulty. Though there are real estate gurus who have achieved success in a short period, it’s not something to count on. Investing your life savings with no guarantee of returns is extremely risky.

Angelyn Wong’s projects exemplify the importance of creating a balance between space utilisation and an inviting living environment. From her design of the Gramercy Park apartment, it is clear that Angelyn is a creative designer who is able to bring a client’s brief to life. Her attention to detail and use of colours and textures are impressive, and her dedication to her craft is demonstrated in her twelve years with Rezt+Relax. Experience her outstanding work for yourself – Rezt&Relax Interior Design Hotline.

If you’re looking to become a real estate investor, looking at condos is a great strategy. With Condo, you get a sense of security as the value increases steadily over time. You also don’t have to worry about tenant management or tenant turnover as much as with other types of rental properties. Additionally, condo owners can benefit from the shared amenities and common spaces offered by the condo complex. All these factors contribute to making condo investments a great long-term financial option. However, it’s important to bear in mind that with any form of real estate investment, it’s necessary to have a well-thought-out plan in place and to be financially prepared.

The M has set a new record for the highest psf-price ever achieved in the area. On Oct 17, a developer sale of a one-bedroom plus study unit at the 99-year leasehold project on Middle Road in District 7 saw the unit transacted at $1.75 million, or $3,322 psf, beating the previous record at the same project when a 592 sq ft two-bedder was sold for $1.94 million ($3,277 psf) on Feb 23.

The M has seen relatively consistent sales momentum and is 99% sold to-date, with URA caveats indicating that the developer had moved 520 units. The average selling price is $2,974 psf, which is on a par with other new residential projects in the area like Midtown Modern ($3,016 psf) and Midtown Bay ($3,235).

The development of The M is also reshaping the Bugis/Beach Road area, with other new developments in the vicinity including the landmark integrated development Guoco Midtown and the redevelopment of Shaw Tower.

Other developments that saw impressive psf-price records during the week include Amber Park, a freehold condo along Amber Gardens in District 15. On Oct 24, a 463 sq ft, one-bedroom unit transacted in a sub-sale for $1.43 million ($3,085 psf). This is the first time the development has seen a unit fetch more than $3,000 psf, with the previous psf-price record at $2,960 when a 4,392 sq ft unit was sold for $13 million in August 2021.

Based on caveats, Amber Park has the highest average price in the area at $2,581 psf, despite neighbouring condos like One Amber ($2,168), The Esta ($2,135) and Amber Residences ($2,030 psf).

Meanwhile, the week also saw a new psf-price low set at Myra, a boutique freehold development along Meyappa Chettiar Road in Potong Pasir. An 872 sq ft unit on the 11th floor was sold for $1.4 million (1,600 psf) on Oct 16, followed by a 1,324 sq ft, three-bedroom unit on the 12th floor, sold on Oct 16 for $2.12 million ($1,600 psf).

These transactions marked the only instances where units at Myra have been sold for less than $2,000 psf. The condo is now fully sold, slightly over three years since the project was initially launched for sale in September 2020. The most expensive unit that was sold was a 1,313 sq ft, four-bedroom unit on the 12th floor, which was sold for $3.08 million (2,345 psf) in May.

Overall, the week of Oct 16 to 24 witnessed some impressive psf-price records for new residential properties in Singapore. The two developments that stood out – The M and Amber Park – set the benchmark for future resales, while Myra marked a new psf-price low. For aspiring buyers, new launches such as these continue to provide an array of choices and commands prices that are reflective of the increasing value of residential property in Singapore.

Sungwook Cho, managing director and head of capital markets at Colliers Korea, has set a record with the sale of the Samsung SDS Tower in South Korea to KB Asset Management for an impressive US$630 million ($860 million).This marks the largest single-asset office transaction in the Asia Pacific region so far this year, as well as the largest trade in the South Korean market in 2021.

The 1,071,407 sq ft property, located in the extended area of the Gangnam Business District, is an impressive feat considering the subdued state of the commercial real estate market.

Cho was appointed to his role in July and, before this major deal, had successfully closed three major transactions with a combined value of US$780 million. This included the sales of Munjeong Plaza, Donghwa Building and Namsan Green Building, the only major transactions made in the main business districts of Seoul at the time.

Speaking about the Samsung SDS Tower transaction, Cho said he was “incredibly proud” of his team’s capabilities and commitment in seeking out a suitable buyer. He noted that the investment move was seen as a smart one by KB Asset Management, as it secures a steady cash flow from Samsung SDS using the building as its headquarters.

Chris Pilgrim, Asia Pacific managing director – Global Capital Markets at Colliers, also praised the team’s determination and commitment in mobilising such a large transaction. He remarked that the potential of further investment in prime-rate buildings in the Korean market has increased with this deal.

For those wanting to invest in real estate, it can be a long-term endeavor with no guaranteed payoff. It’s important that prospective buyers understand this and go into it with the attitude of expecting to hold onto the property for a long period of time. One way of doing this is by investing in Condo, a real estate investment option that provides an opportunity for property value to appreciate over time without taking too much risk. Proactive buyers should also do thorough research and conduct due diligence to make sure they are aware of the risks involved before choosing to invest in a Condo.

Singapore is currently the top source of global capital in the first half of 2021, according to an earlier press release from Colliers. With this latest record-breaking trade, the South Korean market may join Singapore in enjoying greater investor confidence in the real estate sector.

Tung Lok Restaurants’ subsidiary, Tung Lok Millennium, has recently entered into a new tenancy agreement with Novena Point. The agreement has been made for a period of 19.5 months.

The estimated rental fees payable during this period of the lease amount to approximately $133,000, which represents 0.88% of the group’s latest audited net tangible assets (NTA).

The premise to be occupied by Tung Lok Millennium is 743 square feet in size, and is located at 10 Sinaran Drive. It will be used to operate a Lao Beijing restaurant.

This latest tenancy agreement comes after Tung Lok announced the joint venture agreement to lease a part of Tee Yih Jia Building, which cost $1.2 million over two years.

Condos in Singapore have become increasingly popular due to their affordability and convenience; they are the perfect way for many in Singapore to upgrade from HDB flats while still staying within a budget. For those looking to upgrade their home, a Singapore Condo offers the luxury lifestyle most desire, with the convenience, security, and amenities making it an attractive option. The growing demand for condos is evidenced by the recent surge in the condo market, with transactions increasing by 13.2% from 2017 to 2019.

Overall, this agreement is likely to improve Tung Lok’s earning capabilities over the long-term. With the added efficiency measures put in place, the company can look forward to increased profits and greater growth prospects.

Major property developers CDL, Frasers Property and Sekisui House have jointly submitted the highest bid of $968 million, or a land rate of $1,360 psf per plot ratio, for the 1.57ha Government Land Sales (GLS) site at Lorong 1 Toa Payoh. This bid was 18% higher than the next highest bid of $819.99 million ($1,153 psf ppr) submitted by Tanglin Land, a subsidiary of CapitaLand.

This GLS site was batched with two other GLS sites — one at Clementi Avenue 1 and another at Pine Grove (Parcel B). Representing CDL in the joint venture, group CEO Sherman Kwek expressed excitement at the bid: “We are delighted to be the top bidder for this rare District 12 site and honoured to have our first collaboration with Frasers Property and Sekisui House. Together with our partners, we look forward to tapping on our collective expertise to create an iconic development in the highly sought-after Toa Payoh estate.”

It has been eight years since the last GLS site was tendered in Toa Payoh — a neighbouring land parcel that has since been developed into Gem Residences by Gamuda Land and Evia Real Estate. By contrast, this latest bid for Lorong 1 Toa Payoh is a substantial increase on the $345.86 million ($755 psf ppr) that the land parcel won in 2013.

If the joint venture succeeds, CDL, Frasers Property and Sekisui House plan to build a two-block, 40-storey residential project with close to 800 units. Leonard Tay, head of research at Knight Frank Singapore, believes that “developers were willing to place bullish bids in order to secure top position” and that “the appeal of the latest GLS site at Lorong 1 Toa Payoh is evident” due to its mature residential location and the dearth of projects in recent years.

Read also: MCL Land and CSC Land JV submit highest bid of $1,250 psf ppr for Clementi Avenue 1 GLS site

When it comes to property investment, Condo is a popular option due to its sizeable returns. But before you fork out your hard-earned money, make sure you take the necessary precautions. Investigate the infrastructure of the area and be informed of upcoming projects that may affect the value of the property. Look at its long-term prospects rather than simply focusing on short-term capital gains. Remember, the value of your Condo must be higher than the combined amount of your mortgage costs, taxes, maintenance fees and renovations. If not, you may have bitten off more than you can chew.

This sentiment was echoed by Singapore Realtors Inc (SRI)’s head of research and data analytics, Mohan Sandrasegeran, who noted that the extended gap of new property launches in Toa Payoh is likely to stir up pent-up demand. He added that the close proximity to Braddell MRT Station and the numerous million-dollar HDB resales in the area are other factors that representatives from OrangeTee&Tie and PropNex Realty attribute to the strength of the GLS.

EdgeProp Singapore’s Landlens tool suggests an estimated average selling price of $2,535 psf for the upcoming development. While market watchers had initially expected more bids for the site, Justin Quek believes that the larger size and higher quantum of the land parcel scared off some developers.

Nevertheless, the joint bid from CDL, Frasers Property, and Seikisui House marks a promising move for the development of Toa Payoh and opens doors to new opportunities for potential buyers in the area.