Industry Tips & Insights

Fun Facts about Real Estate in Singapore

 

As a thriving financial centre in South-East Asia, Singapore has emerged as one of the world’s most attractive real estate markets to invest in, especially with its land-scarce nature, transparent legal and land ownership system and stable political environment.

 

Being a real estate agent in this flourishing environment, have you ever wondered how much you really know about real estate in Singapore? In this issue of Agent News, we present to you some interesting fun facts!

 

Fact #1 Record No. of Condos Supplied

In 2021, 332.98 thousand condominiums and private apartment units were supplied in Singapore. This is a +63% jump since 2012 when there were only 204.34 thousand units. Despite the slight stagnant stage amidst pandemic in 2020, we believe the growth will continue in 2022 with border opening announcements and economy recovery!

 

Photo credit: Wallich Residence

Fact #2 Biggest Condo in Singapore

Situated at the top part of Singapore’s tallest building, Guoco Tower, the Wallich Residence rests on the 39th to the 64th floor of the mixed-development and offers units up to 3,509 sqft. The building is designed by the same renowned architectural firm that designed the Burj Khalifa in Dubai and Trump International Hotel and Tower in Chicago.

 

Photo credit: VY Maps

 

Fact #3 Districts with Most Primary Schools

Currently, there are 186 active primary schools in Singapore. Sengkang and Punggol districts top the chart with 23 primary schools in total. Want to know which projects are near to schools? Check out Project Insights under Market Insights on your AgentNet!

 

 

Fact #4 Tallest Commercial & Residential Projects

With a height of 283.7 meters, Guoco Tower, previously called Tanjong Pagar Centre, is currently the tallest skyscraper in Singapore. The tower is the only skyscraper exempted from a local law forbidding buildings from exceeding a height of 280 meters.

 

Made up of 7 blocks linked together by skybridges at the 26th and 50th storey, Pinnacle @ Duxton is the tallest HDB development in Singapore. The skybridges on its 50th floor offer a panoramic view of the city and are a popular location for viewing the National Day fireworks display.

 

 

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Fun Facts about Real Estate in Singapore

Fact #5 Highest Deal Closed for Residential Unit

Due to the ultra-high premiums, only seven super penthouse transactions took place in Singapore between 2006 and 2019, of which three happened over the last four years.

 

These include a super penthouse at Sculptura Ardmore, which transacted for over $60 million in September 2017. The buyer of the 10,300 sqft super penthouse unit was rumoured to be Facebook’s co-founder and one of Singapore’s richest men, Eduardo Saverin.

 

In 2019, British billionaire James Dyson transacted Singapore’s largest triplex super penthouse at Wallich Residence with 21,108 sqft at $73.8 million. This smashed a new high record for buying Singapore’s most expensive super penthouse ever, which also happens to be Singapore’s largest penthouse!

 

Photo credit: Visit Singapore 

 

Fact #6 Oldest vs. Newest Estates

One of the oldest neighbourhoods in Singapore, the streets of Tiong Bahru span names that honour Chinese pioneers of the early 19th and 20th centuries. Here, you’ll find plenty of pre-war flats built in a late Art Deco style with some of them gazetted for conservation by URA in 2003. In 2006, the revitalised Tiong Bahru Market and Food Centre opened and is now a haven for food connoisseurs and hungry locals alike.

 

Fast forward to 2022, Tengah emerged as the first HDB town that is planned with smart technologies town-wide from the beginning. The design of housing districts in the area focuses on green, sustainable features and community-centric spaces. Providing new homes in the Western region of Singapore, Tengah sits alongside the Jurong Innovation and Jurong Lake Districts, providing opportunities for Singaporeans to live, learn, work and play.

 

 

Fact #7 Oldest Non-Residential Building

Formerly known as Old Parliament House, The Arts House was regarded to be the oldest existing government building. However, it was first built in 1827 for Scottish merchant John Argyle Maxwell as his private residence before being taken over by the colonial government. Extensions were added in 1875, 1901 and 1909, and the architecture eventually transformed from the Palladian style to Victorian.

 

The building served as the Parliament House from 1959 until 1999 and was gazetted as a national monument in 1992. After its vacancy in 1999, it was then converted into a home for performing and visual arts and has been bustling ever since from 2004.

 

 

We hope you learn something new from the fun facts and perhaps use them as a conversation starter when prospecting. See you next time! 😊

 

Always a better partner for you, 
PropertyGuru Team 

 

 

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Singapore Property Market Report Q2 2022 – Powered by PropertyGuru DataSense

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