Farhan Adenan in the studio
Undervalued Singapore property · Investment potential

I find what the market mispriced.

Then I tell you what it is actually worth. Undervalued residential and commercial, identified from the transaction record before the market catches up — and placed where it belongs in your portfolio.

Message me directly Plan your portfolio
Farhan Adenan · CEA R068636D · Huttons Asia
01 · The island

1,474 projects.

Every residential project in Singapore, plotted where it stands.

0lit on the map
—median discount
Who I work with
And the people behind it

Four kinds of client, one question each.

Whatever the market, the brief comes in one of these four shapes. Yours is probably one of them.

01C-suite

Concentrated equity, no time to run the market yourself. The property book gets managed like the rest of the balance sheet.

02Family offices

Multi-generational mandates where allocation and wrapper are settled long before any specific address is.

03Investment firms

Deal flow screened against a defined return threshold. What cannot clear it never reaches your desk.

04Private owners

One asset, held well, compounding into the next. The ladder matters more than the unit ever will.

How the mispricing happens

Three ways a good asset
ends up underpriced.

Undervaluation is not luck and it is not a hunch. It comes from three mechanics that repeat, that leave a trace in the transaction record, and that can be screened for.

market value deadline the gap
Pressure

Priced by a clock

Divorce, emigration, an estate, a refinancing deadline. A seller running out of time prices against the date, not against the comparables — and cuts again each time the date gets closer.

Signal: repeated price cuts, long days on market
900 sqft $2,100 psf 900 sqft $2,100 psf same development · same floor band
Quantum

Priced by aversion

The bigger the cheque, the smaller the buyer pool. Units that cross a quantum threshold get skipped — so they clear at a lower price per square foot than their smaller neighbours in the same block.

Signal: psf falling as size rises, same project
your window MOP wave competing supply, by year
Exit

Priced by the exit

Entry is half the position. What decides your return is how much competing stock hits the market the year you want out — absorption, incoming launches and MOP cliffs. I model that before you sign.

Signal: supply pipeline vs your holding period
01

2,487 sites.

Every project site in Singapore, read against its own transaction record. Every day.

The map · profitable exits

Which projects actually
exit in profit.

Every one of 1,474 residential projects, plotted where it stands. The flagged sites are the ones whose resale record says almost nobody has exited above what they paid.

55%
100% Share of resales that exited above what the seller paid
1,474Plotted
—Median
—Weakest decile
28Districts
Weakest exit record · n≥10
Live from the radar

The gap, in public.

Private homes — condominium and landed — currently asking materially less per square foot than their own project has actually transacted at. Not asking-price guesswork — measured against the caveat record.

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See the full board on pov.sg →
Commercial

The cleanest way
foreign capital enters Singapore.

Residential stamp duty is the single largest drag on foreign and entity money. Commercial does not carry it at all — which is why most family office mandates land here rather than in a condominium.

60%ABSD · foreign buyer, residential

On a $3M condominium that is $1.8M of duty before you own anything.

0%ABSD · commercial

Shophouse, retail, office, industrial. The same capital, working from a different starting line.

ShophouseFreehold · conservation
Strata retailYield
Strata officeCBD core
HospitalityHotel
IndustrialFactory · warehouse
The desk

This is the work,
not the claim.

Every URA caveat, every land sale, every government announcement, and all 67,184 live listings — read daily and published at pov.sg. Read it before you speak to me.

0Project sites built
0Live listings daily
0Residential analysed
0Districts covered
0Published analyses
Coverage built and maintained byPOV Realty
Entry cost by status

The same portfolio costs
four different amounts.

Residency is the largest single variable in Singapore residential maths. It sets your entry cost, your financing, and which structures exist for you at all.

ResidentialABSD 60%
$0total outlay
CommercialABSD 0%
$0total outlay

Additional Buyer’s Stamp Duty only. Buyer’s Stamp Duty applies to both and is not shown here, and a commercial purchase may also attract GST. Rates change — verify against IRAS before you rely on a number.

  • The widest set in the market — decoupling, the HDB-to-private progression and CPF leverage are all available to you.
  • The second property is where most owners quietly cap their ceiling. It gets structured before the first purchase, not after.
  • MOP timing and the resale cycle move your outcome more than the specific unit does.
  • Private resale is your field. New HDB is closed to you, and resale HDB carries its own three-year waiting rule.
  • That 5% redraws which price bands clear a return threshold — most PRs are shopping in the wrong band entirely.
  • Landed requires approval and is effectively closed outside Sentosa Cove.
  • At 60%, only a genuinely mispriced residential asset survives the maths. Market-rate purchases do not clear.
  • Commercial carries no ABSD at all. For most foreign capital that is the more efficient entry, and usually where the conversation should start.
  • Certain nationalities qualify for residential ABSD remission under free trade agreements. That gets established first.
  • Currency, financing jurisdiction and holding structure move the return as much as the asset does.
  • 65% on any residential purchase through an entity or trust. The structure has to earn that premium back somewhere else — and usually it cannot.
  • Commercial and shophouse carry no ABSD, which is why most family office mandates land there.
  • Housing developers may apply for remission subject to conditions; the additional 5% is never remitted and is paid upfront.
  • The first question is not which property. It is whether residential is the right wrapper at all.

Bring me one address.

Thirty minutes, and you leave with three things: what it is actually worth against its own transaction record, whether the exit holds over the years you intend to hold it, and where it sits against everything else you own.

Book the thirty minutes Or send it on WhatsApp

If the numbers do not work, that is what you will hear. Your family lives with the answer for twenty years — not me.

Farhan Adenan · CEA R068636D · Huttons Asia