Stirling Residences by a Joint Venture Between Logan Property and Nanshan Group in Queenstown

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MCI (P) 136/08/2017 PPS 1519/09/2012 (022805)

Visit EdgeProp.sg to ˎ nd properties, research market trends and read the latest news The week of July 2, 2018 | ISSUE 837-58

Market news Gains and Losses Done Deals URA releases six GLS sites on the Four-bedroom unit at The Claymore River Valley home prices Conﬁ rmed List for 2H2018 EP2 rakes in $3.4 mil proﬁ t EP10 riding high EP12

SAMUEL ISAAC CHUA/THE EDGE SINGAPORE

Homebuyers’ buffet

This weekend will see the preview of two new projects: Park Colonial by a consortium led by Chip Eng Seng Corp in the Woodleigh area; and Stirling Residences by a joint venture between Logan Property and Nanshan Group in Queenstown. In addition, M+S will be launching the second tower of Marina One Residences in prime District 1. The roll-out of new projects will provide homebuyers with a wide spectrum of choices. EP2 • EDGEPROP | JULY 2, 2018 PROPERTY BRIEFS

CUSHMAN & WAKEFIELD

EDITORIAL Dalvey Court up for collective EDITOR | sale at $160 mil Cecilia Chow Owners of the freehold Dalvey Court CONTRIBUTING EDITOR | (right) have put up the 32-unit residen- Pek Tiong Gee tial block for collective sale. WRITERS | Timothy Tay, Bong Xin Ying, Charlene Chin The reserve price of $160 million DIGITAL WRITER | Fiona Ho translates into an estimated $2,009 psf per plot ratio (ppr), says Cushman & COPY-EDITING DESK | Elaine Lim, Evelyn Tung, Wakefield, the appointed marketing Chew Ru Ju, Shanthi Murugiah agent for the sale. There is no devel- PHOTO EDITOR | opment charge payable due to the high Samuel Isaac Chua development baseline. PHOTOGRAPHER | Albert Chua EDITORIAL COORDINATOR | Given the estimated gross floor area Yen Tan (GFA) of 79,660 sq ft, the site can be

DESIGN DESK | redeveloped into 93 apartment units Tan Siew Ching, Christine Ong, Monica Lim, of 753.5 sq ft each, according to Cush- Tun Mohd Zaﬁ an Mohd Za’abah man & Wakefield. Under the 2014 Mas- ter Plan, the residential site has a plot ADVERTISING + MARKETING ratio of 1.6 and a 12-storey height limit. ADVERTISING SALES Completed in 1976, Dalvey Court, DIRECTOR, COMMERCIAL off Bukit Timah Road, is a six-minute OPERATIONS | Diana Lim walk to the Stevens MRT station on the SENIOR ACCOUNT MANAGERS | Janice Zhu, James Chua Downtown Line. ACCOUNT MANAGER | In February, the 77-unit City Tow- Bernard Wong ers, another freehold development off SALES STRATEGIST | Han YaoGuang Bukit Timah Road, was sold for $401.9 million, or $1,847 psf ppr. CIRCULATION The tender for the Dalvey Court site DIRECTOR | Dominic Kevin Sim MANAGER | Bryan Kek will close on Aug 2. Free Trade Zone. The site in Xinpaifang is part of a (GLS) programme for 2H2018. Nine other sites are EXECUTIVES | well-established residential area surrounded by high- under the Reserve List. Malliga Muthusamy, Ashikin Kader CapitaLand buys mixed-use end residential developments and government offices. The confirmed GLS sites can potentially yield

CORPORATE site in Chongqing, China “Chongqing is one of China’s fastest-growing cities 2,705 private residential units (including 695 ex- CHIEF EXECUTIVE OFFICER | CapitaLand has acquired all the shares in Chongqing with strong investment potential. The city’s growing ecutive condominium (EC) units), 454,237 sq ft Bernard Tong Zhonghua Real Estate, a Chinese company that owns a population and rising income per capita have gener- (42,200 sq m) of gross commercial space and 390 prime 32ha mixed-use site in Chongqing, China. A cash ated demand not only for residential properties but hotel rooms. Two of the confirmed GLS sites are in PUBLISHER The Edge Property Pte Ltd consideration of RMB2.2 billion ($459 million) is payable also premium retail and office spaces in central lo- prime districts. 150 Cecil Street #13-00 and takes into account the agreed value of the property, cations,” says Lucas Loh, CEO of CapitaLand China. OrangeTee & Tie believes that the Kampong Java Singapore 069543 which is RMB5.7 billion. The site in Chongqing’s Xin- Road GLS site in prime District 9 will be “the most Tel: (65) 6232 8688 Fax: (65) 6232 8620 paifang comprises two greenfield sites — where a future Hwa Hong buys two Jalan Besar highly contested area” among developers, as there development could yield 1,900 residential units and a commercial sites for $13.8 mil has not been a GLS site sold in the area for years. PRINTER 3.6 million sq ft shopping mall — as well as brownfield Hwa Hong Corp has bought two commercial free- The property consultant estimates that the site — op- KHL Printing Co Pte Ltd sites with an inventory of 223 residential units, and 1.1 hold sites on Jalan Besar from City Developments posite the Newton MRT station, at the fringe of Or- 57 Loyang Drive Singapore 508968 million sq ft of office and retail space. for $13.8 million. chard Road — could be successfully bid for $1,400 Tel: (65) 6543 2222 “Given its significant scale, strategic location and The two sites measure an estimated 3,230 sq ft and to $1,600 psf. Fax: (65) 6545 3333 excellent connectivity, the land parcel in Chongqing’s are zoned for commercial use, with a gross plot ratio The government has also included a 51,667 sq ft

PERMISSION AND Xinpaifang is a prized acquisition that will boost Cap- of 3.0. Hwa Hong intends to develop the sites into hotel site on Club Street in the confirmed GLS list. REPRINTS itaLand’s landbank in a key gateway city in the south- one or two commercial buildings, with a maximum This is the first site of its kind since the Bukit Cher- Material in The Edge Property western region of China,” says Lim Ming Yan, group GFA of 9,691 sq ft. The move is in line with the com- min hotel plot was released in 2008. may not be reproduced in any CEO of CapitaLand Group. pany’s strategy to strengthen its future rental incomes Other notable GLS sites include a 16,146 sq ft plot form without the written permission of the publisher Xinpaifang is a mature residential and commercial and benefit from the capital appreciation of the sites. on Middle Road that can house up to 390 residential zone in Liangjiang New Area, part of Chongqing’s The sites are within walking distance of the Far- units. OrangeTee & Tie believes that the site would rer Park and Jalan Besar MRT stations, and are close be popular among developers, owing to its proximi- We welcome your comments ROXY-PACIFIC and criticism: propertyeditor.sg@ to City Square Mall and Little India. ty to the Bugis MRT station. Other property consult- bizedge.com ants agree. “The completion of South Beach and DUO Roxy-Pacific and Tong Eng sell Sydney integrated developments, together with the upcom- Pseudonyms are allowed but property for $154.3 mil ing Beach Road mixed-use development site won by please state your full name, address and contact number for Roxy-Pacific Holdings and Tong Eng Group have sold GuocoLand, would inject a dose of vibrancy in the us to verify. off their freehold commercial property in Sydney to area,” says Christine Li, senior director of research ICPF Nominees, an Australian private company, for at Cushman & Wakefield. A$153 million ($154.28 million). The only EC site released in the land sales pro- The 14-storey building at 117 Clarence Street (left) gramme is at Tampines Avenue 10. OrangeTee & Tie was acquired in February 2016 by the two compa- expects the site to be sold at around $580 to $600 psf nies for A$81 million through a 50:50 joint venture. ppr, based on the bid price fetched by the Sumang The sale follows that of another freehold office Walk EC GLS in Punggol. building in Sydney, which Roxy-Pacific sold off in Meanwhile, under the Industrial Government Land 2017 for A$158 million. Roxy-Pacific purchased the Sales programme, six sites were released in the Con- 28-storey office building at 59 Goulburn Street in Syd- firmed List, with a total GFA of 7.65ha. Seven sites ney’s south CBD for A$90.2 million, above its valu- are under the Reserve List. — Compiled by Charlene ation of A$86 million, in July 2014. Chin and Timothy Tay E “Both prime commercial buildings in Sydney had contributed healthy recurring income before they were divested at a good price. We hope to replicate this model and extend our investment track record in the near future, recycling the capital from the sale of 117 Clarence Street into other yield-accretive investments to enhance shareholder value,” says Teo Hong Lim, executive chairman and CEO of Roxy-Pacific. Meanwhile, Tong Eng Group intends to grow its presence and investment portfolio in Australia, says Teo Tong Lim, group managing director of the company. Tong Eng Group’s first foray into Australia was the purchase of the Harley Davidson building at 111- 125 A’Beckett Street, Melbourne, in April 2015 for A$38 million. It was subsequently sold for A$61 million in July 2017.

URA releases six GLS sites for 2H2018 The Singapore government has released six confirmed land sites under the Government Land Sales EDGEPROP | JULY 2, 2018 • EP3 EP4 • EDGEPROP | JULY 2, 2018 DISTRICT 13

PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE

The 805-unit Park Colonial will be launched on June 30, ahead of Woodleigh Residences by the SPH-Kajima JV

Park Colonial leads new launch in Woodleigh

| BY BONG XIN YING | new project will be launched ahead of Sized to sell “the project located opposite our site”, To cater for a wide spectrum of buy- his time last year, property de- says Raymond Chia, Chip Eng Seng ers, units at Park Colonial will range velopers had bid aggressive- executive chairman and group CEO. from one- to five-bedroom apart- ly for two government land The preview of the 805-unit Park ments. About 21% of the units will be sites on opposite sides of the Colonial on Woodleigh Lane will be one-bedroom and one-bedroom-plus- Woodleigh MRT station, off held on the weekend of June 30 and study units that range from 463 to 506 TUpper Serangoon Road. July 1. “The reason why I chose this sq ft. Two-bedroom units will make In June 2017, a joint venture (JV) site is that there hasn’t been a new up 41% of the units and range from between Singapore Press Holdings launch in the area for some time,” 570 sq ft for a two-bedroom classic and Kajima Development — the says Chia. unit to 743 sq ft for a two-bedroom property development arm of Sin- The last launch of a private con- dual-key unit. Three-bedroom units gapore-based Japanese construction dominium in the Woodleigh area of 915 to 1,066 sq ft will make up group Kajima Overseas Asia — paid was nine years ago, when the 330- another 27% of the units. Four-bed- $1.13 billion, or $1,181 psf per plot unit 8@Woodleigh was launched in room units, including deluxe units of ratio (ppr), for a mixed residential June 2009 and fully sold within two 1,184 to 1,410 sq ft, will make up 60 and commercial development site, weekends. The project was complet- units (7.5%). Five-bedroom units of which will be developed into the ed in 2012. 1,712 sq ft that come with private lift 680-unit Woodleigh Residences and “The competition is not as intense access will total just 29 units in the Woodleigh Mall, which is expected as at some of the other neighbour- development. to have about 300,000 sq ft of retail hoods, as Woodleigh is a new town,” Designed by ADDP Architects, Park space. Woodleigh Residences is ex- says Chia. What is more, Park Colo- Colonial comprises six 14- to 15-storey pected to be launched in September, nial is located next to the Woodleigh blocks that occupy a 210,404 sq ft site. with an indicative price of $2,000 psf. MRT station. “It’s probably the first According to the architect, the design In July 2017, a consortium com- launch of a mass-market condo that’s was inspired by the black-and-white prising CEL Development (the prop- so close to an MRT station this year,” colonial homes nestled within Woodle- erty investment and development Chia notes. In the future, residents igh Park. The project has 50 facilities, arm of Singapore-listed Chip Eng will also be able to enjoy the ben- including the clubhouse, which is the Seng Corp), Heeton Holdings and efit of the development’s proximity centrepiece; a cantilevered, 60m lap KSH Holdings paid $700.7 million, to Woodleigh Mall across the road. pool; lawns; courtyards; nature trail; or $1,100 psf ppr, for the residential Park Colonial’s initial average and children’s play area. development site across the road on price is likely to be around $1,700 This is not the first collaboration Woodleigh Lane. Both are 99-year psf. The project is expected to be by Chip Eng Seng, Heeton and KSH leasehold sites, purchased in gov- launched in phases. The main rea- Holdings, which have stakes of 60%, ernment land tenders. son for that is that Woodleigh Res- 20% and 20% in the JV respective- idences is expected to be launched ly. The trio were also partners at the Launching ahead of the at prices north of $2,000 psf. 720-unit Grandeur Park Residences, competition According to sources, this is likely located adjacent to the Tanah Merah Chia: The reason why I chose this site is that there hasn’t been a new launch in the However, Chip Eng Seng and its JV to pull up prices in the area, there- MRT interchange station on Bedok area for some time partners have made sure that their by benefiting Park Colonial as well. South Avenue 3. Launched last year, EDGEPROP | JULY 2, 2018 • EP5 DISTRICT 13

The premium five-bedroom units come with a ‘his and her’ bathroom concept

Park Colonial comprises six 14- to 15-storey blocks that occupy a 210,404 sq ft site

Five-bedroom units of 1,712 sq ft come with private lift access

The living room of a two-bedroom unit at Park Colonial the project is already 97% sold, with North and Jalan Mariam can be re- the latest median price at $1,516 psf, developed into a new low-rise con- according to URA data. do project with 320 residential units The JV partners launched the and several retail shops, according to 1,390-unit High Park Residences two Chip Eng Seng. The project is likely years ago. The project was 90% sold to be launched next year. Given its on the first weekend of its launch in location in the Changi area, the new July 2015, and fully sold within 12 project will have a resort theme, says months, which was a record for a Chia. “Once again, we chose this site development of such a size. because of the lack of competition.” Chia believes homebuyer inter- What’s next? est remains strong and that there In the pipeline is the Changi Garden are no signs of a slowdown just yet. site, which Chip Eng Seng purchased “Buyers are spoilt for choice,” he en bloc for $248.8 million last Octo- says. “There’ve been plenty of en ber. The price was 27% above the bloc deals transacted over the past asking price of $196 million, which 12 to 15 months. Many of these en translates into $888 psf ppr. The ex- bloc beneficiaries who are sitting on isting site contains 60 apartments, cash are probably looking for a new 12 penthouses and 12 shops. investment property. I strongly be- The 200,095 sq ft, freehold site at lieve location will be very important the junction of Upper Changi Road in their decision-making.” E Three-bedders make up 27% of the units at Park Colonial EP6 • EDGEPROP | JULY 2, 2018 DISTRICT 3

PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE | BY CHARLENE CHIN |

he preview of Stirling Residences will be held on the weekend of June 30. The 1,259-unit private condominium is the maiden Singapore residential project by Hong Kong-listed, Shenzhen-head- Logan Property bets big with Tquartered property developer Logan Property Holdings Co. Stirling Residences is a 51:49 joint-venture project between Logan Property and Chinese developer Nanshan Group. For Nanshan Group, Stirling Residences Stirling Residences will be its second residential project in Singa- pore. Its first was the 288-unit Thomson Im- pressions, located on Sim Ming Avenue, off The Hong Kong-listed property group’s 2,659 residential units in Singapore Thomson Road. Launched in November 2015, the private residential project is fully sold ex- account for just 2.4% of its total saleable stock. But it intends to use the cept for two strata houses. It is expected to ob- tain its Temporary Occupation Permit in July. city state as a springboard to venture overseas. Logan Property and Nanshan Group won the 99-year leasehold, 227,220 sq ft site on Stir- ling Road, located off Commonwealth Avenue, with a top bid of $1.003 billion, which translates into $1,051 psf per plot ratio (ppr). It beat 17 other bidders in May last year, winning the first fully residential site that crossed the billion-dollar mark. The bid price was considered high even in psf ppr terms until it was surpassed two months later by a consortium led by Singa- pore-listed construction group Chip Eng Seng Corp, which won the Woodleigh Lane residential site 12 months ago with a bid of $700.7 million, or $1,100 psf ppr. The site will be developed into the 805-unit Park Colonial, which will also hold its preview on June 30.

Location and scale “It’s all about location,” says Chng Chee Beow, executive director of Logan Property (Singa- pore). “Stirling Residences is just a three-minute walk to the Queenstown MRT station; it has three towers of 38 to 40 storeys, which means units from the 20th floor will have a view of the city skyline or the sea.” Chng, who joined the firm in January, heads the Singapore team at Logan Property. A veteran in the property industry with three decades of experience, Chng was formerly the executive director of CEL Development, the property development and investment arm of Chip Eng Seng Corp. Prior to that, he was the property director at Singapore-listed property group Wing Tai Holdings. The scale model for Besides its city-fringe location and prox- Stirling Residences, imity to the MRT station, Stirling Residences which has been is also the largest-scale, high-rise residential raised 15m above development in Singapore to use prefabri- street level cated prefinished volumetric construction (PPVC). The appointed architect is P&T Ar- chitects and Engineers, while China Con- struction (South Pacific) Development Co is the main contractor. Stirling Residences will have three high-rise towers: two 40-storey blocks and one 38-storey building. The three towers will be raised 15m — equivalent to five storeys — above street level. This frees up a greater site area for land- scaping and amenities, says Chng. The condo will have a diverse range of facilities. “In a large-scale project like this — with a wide mix of unit types from one- to four-bedders — you need to cater to different groups of people: young professionals, families with young children, multi-generational families and investors,” says Chng.

Limited unsold inventory One-bedroom units starting from 441 sq ft account for 227 (18%) of the units at Stirling Residences. Two-bedroom units make up 687 (55%) of the units. Another 339 units (27%) are a mix of three- and four-bedroom units of 883 to 1,346 sq ft. There are just six 4-bedroom penthouses, of 1,959 to 1,970 sq ft. Prices of the units start from $800,000 for a one-bedroom apartment, or upward of The showflat of a three-bedroom unit at Stirling Residences The showflat of a four-bedroom unit at Stirling Residences $1,800 psf. EDGEPROP | JULY 2, 2018 • EP7 DISTRICT 3

LOGAN PROPERTY

Logan City — with 50,000 residential units — in Shenzhen is the group’s flagship and biggest development

LOGAN PROPERTY LOGAN PROPERTY

Chng: We like the Stirling Road site because there’s Lai: In Singapore, the group will continue to look for Logan Carat Complex comprises 6,800 apartments, 138,000 sq m of office and hotel space and 100,000 sq m not a lot of new supply in the neighbourhood opportunities to replenish its landbank of retail space

In the neighbourhood of Stirling Residenc- and plot ratio of 2.8, the price translates into Betting on China’s Greater Bay Area zhen again for the first four months of 2018. es, the only other new launch has been MCL $842 psf ppr, including an estimated $288.6 In China, Logan Property’s total sales for The group has maintained its “leading Land’s 309-unit Margaret Ville. So far, 115 of million in differential premiums for topping FY2017 were RMB43.42 billion ($8.96 billion), edge”, especially in major cities in the Guang- the 120 units released have been sold at an up the lease to a fresh 99 years and intensifi- up 51.2% from the previous year. For the first dong-Hong Kong-Macau Greater Bay Area, average price of $1,880 psf. cation of land use. four months of 2018, the company record- which accounts for 81% of the group’s busi- Meanwhile, the 736-unit Queens Peak by According to Chng, the Florence Regency ed total sales of RMB20.66 billion, an 80.8% ness focus, says Lai. Chinese developer Hao Yuan Investments, site will be redeveloped into a new private res- y-o-y increase. Established in 1996 and listed The Guangdong-Hong Kong-Macau Greater which is marketed by MCC Land, is 94% sold. idential project with 1,400 units. The site is on the Hong Kong Stock Exchange in 2013, Bay Area is a Chinese government initiative The project is linked directly to the Queens- located within a 13-minute walk of both the Logan Property has a market capitalisation of to link 11 cities into an integrated econom- town MRT station. Next door to Queens Peak, Hougang and the Kovan MRT stations. RMB58.47 billion. ic and business hub. In May, Vice-Premier the 845-unit Commonwealth Towers by City As the Florence Regency site is large, there Logan Property is not new to developing Han Zheng, an official in charge of the bay Developments Ltd is already completed and is scope for generous facilities that cater for a large-scale projects — in Shenzhen, its flag- area development, was reported to have said fully sold. wide spectrum of residents, notes Chng. ship and biggest development is Logan City, that it was an area that had been “personal- “We like the Stirling Road site because there Within the span of 12 months, Logan Prop- with 50,000 residential units. Logan Proper- ly planned, mapped out and promoted” by is not a lot of new supply from new launches erty has acquired two sizeable sites in Singa- ty also has experience in developing projects President Xi Jinping, a testament to the pro- in the neighbourhood,” says Chng. pore, with the potential to build 2,659 resi- that are integrated with transportation, such ject’s importance. dential units, says Lai Zhuobin, chief financial as underground metro stations. These include Logan Property intends to use Singapore as Growing the Singapore landbank officer and executive director of Logan Prop- Acesite Park, a 2,058-unit residential develop- a springboard to venture overseas. Beyond the Besides Stirling Residences, Logan Property has erty Holdings. “Logan Property is now ranked ment, and Logan Carat Complex, a mixed-use city state, the company has set its sights on a second residential project that is targeted for among the top developers in Singapore in terms project with 6,800 apartments, 138,000 sq m Australia, says Lai. “In Singapore, the group launch next year. This will be the redevelop- of size of landbank,” he notes. of office and hotel space and 100,000 sq m of will continue to look for opportunities to re- ment of the privatised HUDC estate Florence Even then, Singapore projects account for retail space. plenish its landbank,” he adds. “However, Regency on Hougang Avenue 2, which Logan just 2.4% of Logan Property’s total saleable Logan Property was ranked the top devel- the group will be selective in its future ac- Property purchased en bloc for $629 million stock and 0.7% of its total landbank of 295.3 oper in Shenzhen in 2017; it sold 4,416 units quisitions, given the supply of en bloc sites last October. With a land area of 389,236 sq ft million sq ft. that year. It was the top developer in Shen- in the pipeline.” E

LOGAN PROPERTY LOGAN PROPERTY

The infinity pool is one of two swimming pools within Stirling Residences The rainforest trail within Stirling Residences EP8 • EDGEPROP | JULY 2, 2018 DISTRICT 1

Yoga classes are regularly conducted at the central square, or ‘Heart’, at Marina One

Second tower of Marina One Residences to launch from $2,700 psf

| BY TIMOTHY TAY | units are slightly larger than those Upside potential from April to June this year, which est psf price achieved was $3,148, at Park Tower. Launched in October 2014, Park reflects a 16.4% price appreciation. when a 1,518 sq ft, three-bedroom +S, the joint venture be- One-bedroom and one-bedroom- Tower is 92% sold so far, with all “Buyers of units at Marina One unit on the 29th floor was sold for tween Malaysian sover- plus-study units at Garden Tower are the one- and two-bedroom units tak- Residences can definitely look for- $4.78 million. eign wealth fund Khaz- 657 to 775 sq ft, but there will be en up. Only 40 units are still availa- ward to capital appreciation,” says About half the buyers at Marina anah Nasional and its more of the larger units. Two-bed- ble, and these are mainly three- and Ong Choon Fah, CEO of Edmund Tie One Residences are Singapore citi- Singapore counterpart room units are 980 to 1,066 sq ft, four-bedroom units. The average price & Co (ET&Co). zens, while the other half is a mix of MTemasek Holdings, started private while two-bedroom-plus-study units of units sold then was $2,251 psf, An all-time high of $3,157 psf was foreigners and permanent residents. previews of the second tower of Ma- are 1,141 to 1,281 sq ft. Three-bed- according to caveats lodged for the achieved at Marina One Residenc- The majority of the foreign buyers rina One Residences on June 18, with room-plus-study units are 1,561 to three months from October to De- es in May last year when a 2,250 sq are from Asia — China, Malaysia, In- the launch scheduled for early July. 1,593 sq ft and four-bedroom units cember 2014. The average transacted ft, four-bedroom unit on the 32nd donesia and Hong Kong — although Units at the premium tower at Ma- are 2,034 to 2,250 sq ft. Penthouses price is now $2,610 psf, according to level of Park Tower was sold for there is also a small percentage from rina One Residences — called Garden are 6,491 to 8,568 sq ft. caveats lodged for the three months $7.1 million. This year, the high- the US, Europe and the Middle East. Tower — will be priced from $2,400 psf, with average prices in the range ‘Strong sales momentum’ of $2,700 to $2,800 psf, says Kemmy Tan of M+S is confident that the Tan, CEO of M+S. Garden Tower units “will be quick- Interest among prospective buy- ly snapped up” at an average price ers has been strong, notes Tan Siew of $2,700 to $2,800 psf. “Demand is May, CBRE senior director of residen- strong among Singapore buyers and tial projects. “The indicative price at foreign investors,” she says. an average of $2,700 to $2,800 psf ET&Co’s Ong is of the same opin- looks attractive compared with re- ion. About 77% of the units at Ma- cent land prices; for instance, the en rina One Residences are one- and bloc sale of Park House on Orchard two-bedroom apartments, she notes. Boulevard was at $2,910 psf per plot Given its reasonable pricing and lo- ratio,” she says. “This implies that cation in the Marina Bay/CBD core, future project prices will be higher.” the project is assured of “strong sales The Garden Tower and the adja- momentum”, as one- and two-bed- cent Park Tower are a mirror image of room units are popular among own- each other, with each 34-storey block er-occupiers and investors, she adds. containing 521 units. This brings the “As the project is already completed, total number of units at Marina One homebuyers can move in and inves- Residences to 1,042 units. tors can immediately put their units The development has a wide mix on the market for rent.” of unit types, with sizes that are Marina One Residences is part of considered large by today’s stand- the $7 billion Marina One integrated ards. The units at Garden Tower will development that was completed last have unobstructed sea views and a year. It includes two office towers — view of Marina Bay. Some of the Kemmy Tan, CEO of M+S, is confident that units at Garden Tower will be quickly snapped up East and West Towers — with a total EDGEPROP | JULY 2, 2018 • EP9 DISTRICT 1

M+S PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE

All units at Garden Tower will have views of Marina Bay Sands and the sea

The one-bedroom units with interiors by Takenouchi Webb are located at Garden Tower

Marina One Residences will launch its second residential tower early this month of 1.88 million sq ft of Grade-A of- units, 540 hotel rooms and 21,528 sq fice space and a retail/F&B podium ft of commercial space. The site will with 140,000 sq ft of space. be available from October. Marina One Residences will be V on Shenton, a 510-unit resi- linked to three MRT stations: the fu- dential tower linked to the new UIC Developer M+S will continue offering the remaining three-bedroom units at Park Tower ture Shenton Way station on the up- Building — a redevelopment of the coming Thomson-East Coast Line, former UIC Building and completed The project was completed last year. rant, Nude Grill & Chill, Pizza Ex- private bank Julius Baer, insurance the existing Downtown station on last year — is already 86% sold. Aver- The average sale price at Wallich press and Wakanui Grill. Virgin firm Prudential, professional servic- the Downtown Line, and the Mari- age prices have increased 17%, from Residence has also gone up. When Active has also taken up 26,000 sq es company PwC and legal firm Ra- na Bay interchange station for three $2,011 psf when the project was first the project was first released for sale, ft space for its gym, and on week- jah & Tann. Streaming media giant lines — North-South and Circle Lines launched in August 2012 to $2,353 the average sale price was $3,055 psf. ends, it conducts yoga classes at Netflix and oil and gas behemoth BP and the Thomson-East Coast Line. psf this year. In the first three months of 2018, it the central square, or “Heart”, at are also tenants. Co-working opera- At the Tanjong Pagar Centre inte- was $3,393 psf and today, it is $3,618 Marina One. tor JustCo has taken up 40,000 sq ft No new launches in the grated development, a four-bedroom psf, according to caveats lodged from The two office towers — East at the East Tower and another 40,000 immediate future unit on the 58th floor of the 181-unit April to June so far. and West Towers — are 80% leased. sq ft at the West Tower. Within the Marina Bay-CBD-Tanjong luxury condominium Wallich Resi- While 80% of the tenants at the East When Marina One Residences Pagar neighbourhood, there are no dence was sold for $16 million, or a Premium from completion, Tower have moved in, those at the and the office towers are fully occu- new, launch-ready projects in the record-breaking $4,560 psf, accord- community West Tower are progressively mov- pied, M+S’ Tan reckons there will immediate future. ing to a caveat lodged on June 4. A “Most projects command a premi- ing in. There is a wide mix of ten- be a “vibrant community” of some The future pipeline, however, will 1,765 sq ft, three-bedroom unit on um upon completion,” says Ong of ants, and given the towers’ location 19,000 people. “A community of this see a new 83,959 sq ft “white” site on the 53rd floor was recently sold for ET&Co. “The completion of integrat- in the CBD and the new downtown, size in Marina Bay, together with the Marina View, off Straits Boulevard, $6.36 million ($3,603 psf). Wallich ed developments such as Marina One there are many financial companies scale of the development, brings to released under the Reserve List of the Residence spans the 39th to 64th helps shape the CBD.” and MNCs, such as Japanese banking life URA’s plan for Marina Bay to be 2H2018 Government Land Sales pro- floors of Tanjong Pagar Centre and The retail podium features F&B giant MUFG Bank, Australian invest- dynamic, mixed-use and sustainable gramme. It is estimated to yield 905 sits atop the 38-storey Guoco Tower. offerings such as Majestic Restau- ment bank Macquarie Bank, Swiss district,” she notes. E EP10 • EDGEPROP | JULY 2, 2018 GAINS AND LOSSES

THE EDGE SINGAPORE Four-bedroom unit at The Claymore rakes in $3.4 mil profit

SAMUEL ISAAC CHUA/THE EDGE SINGAPORE | BY TIMOTHY TAY |

he most profitable transaction in the week of June 12 to 19 was the sale of a four-bedroom unit at The Claymore in prime District 9. The 3,348 sq ft unit on the 14th floor fetched $8.8 million T($2,629 psf) when it was sold on June 14. The seller had bought the unit for $5.37 million ($1,604 psf) in 1995. The seller walked away with a $3.43 million (64%) profit, or an annualised profit of 2.2% over a 22-year holding period. The sale was the third transaction in the freehold condominium so far this year. This year, the most profitable transaction at The Claymore was the sale of a four-bedroom unit, also 3,348 sq ft, in May. The seller made a profit of $4.7 million (115%). The 22nd-floor unit was bought for $4.1 million (1,225 psf) in 2004 and changed hands for $8.8 million ($2,629 psf) on May 3. This translates into an annualised profit of 5.5% over a 14-year holding period. The Claymore, on Claymore Road, is a 146-unit condo that was completed in 1985. The second-most-profitable transaction The most unprofitable sale for the week in review for the week was a three-bedroom unit at 72 was that of a three-bedroom unit at 8 Raja The Claymore, on Claymore Road, is a 146-unit freehold condominium that was completed in 1985 Grange, a freehold condo on Grange Road in prime District 10. The 4,306 sq ft unit on the had been bought for $4.3 million ($1,116 psf) ed a $6.6 million (210%) profit, or an annual- unit condo, where profits have ranged from fourth floor changed hands for $7.45 million in 2006. Thus, its previous owner walked away ised profit of 20% over six years. The 18-unit $29,320 to $2.85 million in the past 12 years. ($1,730 psf) on June 13. The seller had bought with a $3 million (70%) profit, or an annual- condo was completed in 1995. The sale of a 2,024 sq ft unit at the freehold it for $4.3 million ($999 psf) in a sub-sale in ised profit of 4.7% over 11 years. The sale of a 4,413 sq ft penthouse unit at 8 Raja, located off Balestier Road, was the most 1996. The seller thus made a profit of $3.15 These two units at 72 Grange are the first to Regency Suites was the third-most-profitable unprofitable transaction in the week in review. million (73%), which translates into a 2.5% be sold since 2011. According to caveats lodged, transaction in the week in review. The previ- The three-bedroom-plus-study unit fetched annualised profit over 22 years. no units changed hands between October 2011 ous owner of the 35th floor unit had purchased $2.68 million ($1,324 psf) when it was sold This makes it two transactions at 72 Grange and June this year. The most profitable sale at it for $2.25 million ($510 psf) in 2006. He sold on June 13. It was purchased from the devel- so far this year. The other transaction, also prof- the development was in 2011, when a 3,627 sq it for $5.10 million ($1,156 psf) on June 14, oper for $3 million ($1,482 psf) in 2013. Thus, itable, was for a 3,853 sq ft, two-bedroom unit, ft two-bedder changed hands for $9.75 million thus reaping a $2.85 million (127%) profit, or the unit was sold at a $320,000 loss (-11%), or which fetched $7.3 million ($1,894 psf) when ($2,688 psf). It had been purchased for $3.15 an annualised profit of 7% over 12 years. This an annualised loss of -2.4% over four years. it was sold on April 12. The seventh-floor unit million ($868 psf) in 2005. The seller pocket- was also the most profitable sale at the 104- The 26-unit 8 Raja was completed in 2013. E

URA, EDGEPROP

Top 10 gains and losses from June 12 to 19 Most proﬁ table deals

PROJECT DISTRICT AREA (SQ FT) SOLD ON (2018) SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) PROFIT ($) PROFIT (%) ANNUALISED PROFIT (%) HOLDING PERIOD (YEARS) 1 Th e Claymore 9 3,348 June 14 2,629 Aug 1, 1995 1,604 3,429,000 64 2.2 22.9 2 72 Grange 10 4,306 June 13 1,730 March 25, 1996 999 3,150,000 73 2.5 22.2 3 Regency Suites 3 4,413 June 14 1,156 March 31, 2006 510 2,850,000 127 6.9 12.2 4 Astrid Meadows 10 2,745 June 13 1,749 April 1, 1995 1,020 2,000,000 71 2.3 23.2 5 Varsity Park Condominium 5 2,024 June 19 978 Dec 15, 2005 403 1,165,221 143 7.4 12.5 6 Th e Lucent 15 2,551 June 18 1,051 April 30, 2009 625 1,132,500 73 6.2 9.1 7 Grand Regalia 19 2,314 June 18 778 March 8, 2004 350 990,000 122 5.7 14.3 8 De Royale 12 1,259 June 18 1,380 March 4, 2004 629 946,000 119 5.7 14.3 9 Newton Suites 11 1,238 June 18 2,100 June 15, 2007 1,450 804,900 45 3.4 11.0 10 Kerrisdale 8 1,259 June 18 1,151 Feb 7, 2007 529 784,000 118 7.1 11.4

Non-proﬁ table deals

PROJECT DISTRICT AREA (SQ FT) SOLD ON (2018) SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) LOSS ($) LOSS (%) ANNUALISED LOSS (%) HOLDING PERIOD (YEARS) 1 8 Raja 12 2,024 June 13 1,324 Nov 25, 2013 1,482 320,000 11 2.4 4.6 2 Paterson Linc 9 850 June 14 2,140 Aug 2, 2010 2,439 280,000 13 1.8 7.9 3 Reﬂ ections at Keppel Bay 4 1,055 June 14 1,564 Aug 27, 2007 1,769 216,000 12 1.1 10.8 4 Th e Boutiq 9 861 June 14 2,183 Nov 15, 2011 2,387 201,340 10 1.5 6.6 5 Loft @ Nathan 10 388 June 18 1,845 Oct 13, 2010 2,108 102,000 12 1.7 7.7 6 Ferraria Park Condominium 17 1,066 June 18 891 May 2, 2012 948 60,000 6 1.0 6.1 7 Regent Grove 23 1,163 June 13 705 Dec 9, 2011 741 42,000 5 0.8 6.5 8 Waterford Residence 9 1,819 June 13 1,467 Nov 15, 2010 1,490 41,112 2 0.2 7.6 9 Melville Park 18 1,345 June 13 687 Dec 12, 2012 717 40,000 4 0.8 5.5 10 Th e Hillford 21 398 June 13 1,130 Feb 12, 2014 1,202 28,800 6 1.4 4.3

Note: Computed based on URA caveat data as at June 26 for private non-landed houses transacted between June 12 and 19. Th e proﬁ t-and-loss computation excludes transaction costs such as stamp duties. EDGEPROP | JULY 2, 2018 • EP11 EP12 • EDGEPROP | JULY 2, 2018 DONE DEALS

River Valley home prices riding high

AGENT | BY BONG XIN YING | second-biggest en bloc purchase in terms of absolute price so far. The land cost translates rojects in the River Valley area in prime into $1,806 psf per plot ratio (ppr). District 9 have seen a spike in resale Pacific Mansion is located just one street transactions at higher prices. Nicholas away from Martin Modern. GuocoLand had Mak, executive director of ZACD Group, purchased the Martin Modern site in a govern- attributes it to two factors: the en bloc ment land sale (GLS) tender at a bid price of Psale price achieved at Pacific Mansion on Riv- $595 million ($1,239 psf ppr) at end-June 2016. er Valley Close and the prices set at Martin The psf price was surpassed by the $1,733 paid Modern, a 450-unit, high-end condominium by Frasers Property, which paid $955.4 million with twin 30-storey towers. for the GLS site on Jiak Kim Street fronting the In March, a joint venture between Singa- Singapore River in December 2017. pore property developers GuocoLand and Hong When Martin Modern was launched by Leong Investment Holdings paid $980 million GuocoLand in July last year, the average price to purchase Pacific Mansion en bloc. It is the of units sold was $2,207 psf. The average selling price has increased 25% to $2,759 psf, ac- SAMUEL ISAAC CHUA/THE EDGE SINGAPORE cording to caveats lodged with URA Realis from The average selling price at Martin Modern has increased from $2,207 psf in the first three months of its April to June. The latest transactions were for launch last year, to $2,759 psf currently, according to caveats lodged from April to June two 764 sq ft two-bedders sold in early June: The one on the second level fetched $2.1 mil- project was launched in July 2008 and com- as, a 250-unit high-end condo, later this year, lion ($2,750 psf) and the one on the fourth pleted in 2011. A 1,335 sq ft, three-bedroom has also spurred interest in existing condos in floor went for $2.01 million ($2,636 psf). unit on the sixth floor that was bought from the neighbourhood. Located adjacent to Martin Modern is the the developer for $2.8 million ($2,097 psf) 10 Nearby is the 176-unit, freehold St Thom- 302-unit freehold Martin Place Residen- years ago, changed hands last month for $3.3 as Suites. The development was launched by ces by Frasers Property. Resale prices at the million ($2,472 psf). Frasers Property in 2007, fully sold and com- project have increased since Martin Modern When new projects are launched at above pleted in 2010. The latest transaction was for was launched. Launched in June 2009, Mar- market prices, it will have a ripple effect on a 1,819 sq ft, three-bedroom unit that changed tin Place Residences was fully sold and com- the resale prices in the rest of the neighbour- hands for $3.78 million ($2,078 psf) in June. pleted in 2011. hood, notes ZACD’s Mak. “As long as the The previous owner had purchased the unit The latest transaction at Martin Place Res- market is buoyant, there will still be good in May 2010 for $3.64 million ($2,000 psf). idences was for a 1,421 sq ft, three-bedroom demand for properties in the River Valley The first owner had paid $3.11 million ($1,709 unit on the eighth floor that changed hands area,” he adds. psf) for the unit when it was first launched for $2.95 million ($2,076 psf), according to Next year, the area could see another spike 11 years ago. a caveat lodged in June. The previous own- in interest with the launch of the project on Across the road from St Thomas Suites is er had purchased the unit for $1.926 million Jiak Kim Street. The site fronts the Singapore the 232-unit Espada, a freehold project that ($1,355 psf) in July 2009 when Martin Place River and was formerly occupied by Zouk dis- was completed in 2010. The latest transaction Residences was launched. cotheque. at the project was for a 355 sq ft, one-bed- The latest transaction at Martin Place Residences Across the road from Martin Modern is the Meanwhile, on St Thomas Walk, just off room unit on the 22nd level that was sold was for a 1,421 sq ft, three-bedroom unit that 88-unit, freehold Martin No 38 by SC Global River Valley Road, the prospective launch of for $988,000 ($2,781 psf). The unit fetched changed hands for $2.95 million ($2,076 psf) Developments. The warehouse loft-inspired Bukit Sembawang Estates’ freehold 8 St Thom- $941,194 ($2,650 psf) in 2010. E

Residential transactions with contracts dated June 12 to 19

Singapore — by postal district LOCALITIES DISTRICTS LAND AREA/ NETT UNIT City & Southwest 1 to 8 FLOOR AREA TRANSACTED PRICE PRICE COMPLETION TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($) ($ PSF) DATE SALE Orchard/Tanglin/Holland 9 and 10 REFLECTIONS AT KEPPEL BAY Condominium 99 years June 14, 2018 1,055 1,650,000 - 1,564 2011 Resale Newton/Bukit Timah/Clementi 11 and 21 District 5 Balestier/MacPherson/Geylang 12 to 14 BLUE HORIZON Condominium 99 years June 13, 2018 1,259 1,263,000 - 1,003 2005 Resale East Coast 15 and 16 FABER HILLS Semi-Detached Freehold June 18, 2018 4,445 6,300,000 - 1,416 Unknown Resale Changi/Pasir Ris 17 and 18 MURANO Apartment Freehold June 12, 2018 1,550 1,450,000 - 935 2008 Resale ZEHNDER ROAD Semi-Detached Freehold June 18, 2018 3,380 4,750,000 - 1,405 1997 Resale Serangoon/Thomson 19 and 20 SEAHILL Condominium 99 years June 14, 2018 786 1,058,000 - 1,346 2016 Resale West 22 to 24 THE ESTIVA Apartment Freehold June 13, 2018 1,001 1,360,000 - 1,359 2008 Resale North 25 to 28 THE INFINITI Condominium Freehold June 13, 2018 1,345 1,370,000 - 1,018 2008 Resale THE PARC CONDOMINIUM Condominium Freehold June 13, 2018 2,045 1,950,000 - 953 2010 Resale THE ROCHESTER Apartment 99 years June 13, 2018 861 1,265,000 - 1,469 2011 Resale THE VERANDAH RESIDENCES Apartment Freehold June 12, 2018 1,249 2,333,000 - 1,868 Uncompleted New Sale THE VERANDAH RESIDENCES Apartment Freehold June 12, 2018 990 1,799,000 - 1,817 Uncompleted New Sale THE VERANDAH RESIDENCES Apartment Freehold June 13, 2018 936 1,633,000 - 1,744 Uncompleted New Sale THE VERANDAH RESIDENCES Apartment Freehold June 13, 2018 1,249 2,239,000 - 1,793 Uncompleted New Sale THE VERANDAH RESIDENCES Apartment Freehold June 15, 2018 1,249 2,264,000 - 1,813 Uncompleted New Sale THE VERANDAH RESIDENCES Terrace Freehold June 15, 2018 2,174 3,567,000 - 1,641 Uncompleted New Sale THE VISION Condominium 99 years June 13, 2018 818 1,090,000 - 1,332 2014 Resale TWIN VEW* Apartment 99 years June 12, 2018 1,055 1,421,000 - 1,347 Uncompleted New Sale TWIN VEW Apartment 99 years June 12, 2018 1,055 1,321,000 - 1,252 Uncompleted New Sale TWIN VEW Apartment 99 years June 12, 2018 1,055 1,286,000 - 1,219 Uncompleted New Sale VARSITY PARK CONDOMINIUM Condominium 99 years June 19, 2018 1,615 1,750,000 - 1,084 2008 Resale VARSITY PARK CONDOMINIUM Condominium 99 years June 19, 2018 2,024 1,980,000 - 978 2008 Resale WESTCOVE CONDOMINIUM Condominium 99 years June 14, 2018 1,098 930,500 - 848 1998 Resale District 7 DUO RESIDENCES Apartment 99 years June 19, 2018 646 1,380,000 - 2,137 2017 Sub Sale District 8 8 FARRER SUITES Apartment Freehold June 19, 2018 624 1,232,900 - 1,975 2015 Resale LAND AREA/ NETT UNIT FLOOR AREA TRANSACTED PRICE PRICE COMPLETION TYPE OF KENTISH COURT Apartment 99 years June 14, 2018 1,098 1,060,000 - 965 1999 Resale PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($) ($ PSF) DATE SALE KERRISDALE Condominium 99 years June 18, 2018 1,259 1,450,000 - 1,151 2005 Resale District 1 District 9 MARINA BAY RESIDENCES Condominium 99 years June 14, 2018 1,076 2,300,000 - 2,137 2010 Resale 8 @ MOUNT SOPHIA Condominium 103 years June 12, 2018 969 1,270,000 - 1,311 2007 Resale THE SAIL @ MARINA BAY Apartment 99 years June 18, 2018 1,313 2,350,000 - 1,790 2008 Resale 8 HULLET Apartment Freehold June 16, 2018 657 2,248,380 - 3,424 Uncompleted New Sale District 2 ESPADA Apartment Freehold June 12, 2018 355 988,000 - 2,781 2013 Resale CRAIG PLACE Apartment 99 years June 18, 2018 657 1,220,000 - 1,858 2000 Resale LANGSTON VILLE Apartment 999 years June 13, 2018 936 1,480,000 - 1,580 2000 Resale EON SHENTON Apartment 99 years June 14, 2018 1,066 1,800,000 - 1,689 2017 Sub Sale MARTIN NO 38 Apartment Freehold June 18, 2018 1,335 3,300,000 - 2,472 2011 Resale District 3 ORCHARD SCOTTS Condominium 99 years June 18, 2018 936 1,655,000 - 1,767 2007 Resale ARTRA Apartment 99 years June 13, 2018 829 1,707,900 - 2,061 Uncompleted New Sale PATERSON LINC Apartment Freehold June 14, 2018 850 1,820,000 - 2,140 2010 Resale ARTRA Apartment 99 years June 15, 2018 1,044 1,944,100 - 1,862 Uncompleted New Sale ST THOMAS SUITES Condominium Freehold June 13, 2018 1,819 3,780,000 - 2,078 2010 Resale COMMONWEALTH TOWERS Condominium 99 years June 12, 2018 474 888,000 - 1,875 2017 Sub Sale THE BOUTIQ Apartment Freehold June 14, 2018 861 1,880,000 - 2,183 2014 Resale MARGARET VILLE Apartment 99 years June 13, 2018 829 1,505,200 - 1,816 Uncompleted New Sale THE CLAYMORE Condominium Freehold June 14, 2018 3,348 8,800,000 - 2,629 1985 Resale MARGARET VILLE Apartment 99 years June 14, 2018 463 964,000 - 2,083 Uncompleted New Sale WATERFORD RESIDENCE Apartment 999 years June 13, 2018 1,819 2,668,888 - 1,467 2010 Resale MARGARET VILLE Apartment 99 years June 14, 2018 463 868,000 - 1,875 Uncompleted New Sale WILKIE 80 Apartment Freehold June 13, 2018 904 1,380,000 - 1,526 2010 Resale QUEENS Condominium 99 years June 14, 2018 1,184 1,530,000 - 1,292 2002 Resale District 10 QUEENS PEAK Condominium 99 years June 16, 2018 1,001 1,854,000 - 1,852 Uncompleted New Sale 120 GRANGE Apartment Freehold June 14, 2018 570 1,811,000 - 3,174 Uncompleted New Sale REGENCY SUITES Apartment Freehold June 14, 2018 4,413 5,100,000 - 1,156 2008 Resale 120 GRANGE Apartment Freehold June 15, 2018 678 2,164,000 - 3,191 Uncompleted New Sale THE CREST Condominium 99 years June 13, 2018 1,302 2,634,000 - 2,022 2017 Resale 120 GRANGE Apartment Freehold June 16, 2018 678 2,154,000 - 3,176 Uncompleted New Sale District 4 120 GRANGE Apartment Freehold June 17, 2018 570 1,820,000 - 3,190 Uncompleted New Sale CARIBBEAN AT KEPPEL BAY Condominium 99 years June 12, 2018 1,647 2,487,500 - 1,510 2004 Resale ASTRID MEADOWS Condominium Freehold June 13, 2018 2,745 4,800,000 - 1,749 1990 Resale EDGEPROP | JULY 2, 2018 • EP13 DONE DEALS

Residential transactions with contracts dated June 12 to 19

LAND AREA/ NETT UNIT LAND AREA/ NETT UNIT FLOOR AREA TRANSACTED PRICE PRICE COMPLETION TYPE OF FLOOR AREA TRANSACTED PRICE PRICE COMPLETION TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($) ($ PSF) DATE SALE PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($) ($ PSF) DATE SALE BALMORAL HEIGHTS Apartment Freehold June 12, 2018 1,163 2,050,000 - 1,763 2004 Resale HEDGES PARK CONDOMINIUM Condominium 99 years June 14, 2018 1,076 920,000 - 855 2015 Resale CLUNY PARK RESIDENCE Condominium Freehold June 18, 2018 1,959 5,280,000 - 2,695 2016 Resale JLB RESIDENCES Apartment 946 years June 18, 2018 1,615 1,438,000 - 891 2008 Resale CYAN Condominium Freehold June 13, 2018 678 1,350,000 - 1,991 2014 Resale LOYANG VILLAS Terrace 99 years June 14, 2018 2,713 1,368,000 - 504 1996 Resale FONTANA HEIGHTS Condominium Freehold June 12, 2018 4,112 6,338,000 - 1,541 1985 Resale PARC OLYMPIA Condominium 99 years June 19, 2018 1,163 1,030,000 - 886 2015 Resale KINGSVILLE Semi-Detached 102 years June 13, 2018 2,605 3,280,000 - 1,259 1999 Resale THE INFLORA Condominium 99 years June 14, 2018 463 530,000 - 1,145 2016 Resale LATITUDE Condominium Freehold June 18, 2018 1,324 2,870,000 - 2,168 2010 Resale District 18 LEEDON RESIDENCE Condominium Freehold June 13, 2018 6,125 12,800,000 - 2,090 2015 Resale COCO PALMS Condominium 99 years June 13, 2018 753 980,000 - 1,301 2018 Sub Sale LOFT @ NATHAN Apartment Freehold June 18, 2018 388 715,000 - 1,845 2014 Resale COCO PALMS Condominium 99 years June 18, 2018 753 790,000 - 1,048 2018 Sub Sale STEVENS CLOSE Semi-Detached Freehold June 12, 2018 4,359 7,960,000 - 1,827 1984 Resale COCO PALMS Condominium 99 years June 18, 2018 463 615,000 - 1,329 2018 Sub Sale GRANGE ROAD Apartment Freehold June 13, 2018 4,306 7,450,000 - 1,730 1995 Resale D’NEST Condominium 99 years June 13, 2018 936 1,100,000 - 1,175 2017 Resale MOUNT SINAI DRIVE Semi-Detached 999 years June 14, 2018 3,380 4,980,000 - 1,475 Unknown Resale MELVILLE PARK Condominium 99 years June 13, 2018 1,345 925,000 - 687 1996 Resale ONE DRAYCOTT Apartment Freehold June 16, 2018 1,345 3,497,000 - 2,599 Uncompleted New Sale MELVILLE PARK Condominium 99 years June 13, 2018 1,475 896,000 - 608 1996 Resale PARKSUITES Apartment 110 years June 17, 2018 700 1,514,560 - 2,165 Uncompleted New Sale RIPPLE BAY Condominium 99 years June 14, 2018 538 580,000 - 1,078 2015 Resale RV RESIDENCES Condominium 999 years June 12, 2018 861 1,940,000 - 2,253 2015 Resale SAVANNAH CONDOPARK Condominium 99 years June 14, 2018 990 818,000 - 826 2005 Resale THE TENERIFFE Terrace 99 years June 14, 2018 3,122 2,730,000 - 875 2003 Resale THE TAPESTRY Condominium 99 years June 12, 2018 441 640,710 - 1,452 Uncompleted New Sale District 11 THE TAPESTRY Condominium 99 years June 14, 2018 603 881,280 - 1,462 Uncompleted New Sale CUBE 8 Condominium Freehold June 13, 2018 1,475 2,080,000 - 1,410 2013 Resale THE TAPESTRY Condominium 99 years June 15, 2018 474 700,280 - 1,479 Uncompleted New Sale CUBE 8 Condominium Freehold June 14, 2018 560 935,000 - 1,670 2013 Resale THE TAPESTRY Condominium 99 years June 15, 2018 1,130 1,375,200 - 1,217 Uncompleted New Sale LA SUISSE Terrace 999 years June 14, 2018 1,873 3,280,000 - 1,756 1993 Resale THE TAPESTRY Condominium 99 years June 16, 2018 1,485 1,720,000 - 1,158 Uncompleted New Sale LINCOLN SUITES Condominium Freehold June 18, 2018 1,561 2,980,000 - 1,909 2014 Resale THE TAPESTRY Condominium 99 years June 16, 2018 441 624,780 - 1,416 Uncompleted New Sale L’VIV Apartment Freehold June 14, 2018 657 1,500,000 - 2,284 2013 Resale THE TROPICA Condominium 99 years June 14, 2018 1,507 1,428,000 - 948 2000 Resale MEDGE Apartment Freehold June 14, 2018 463 715,000 - 1,545 2007 Resale WATERVIEW Condominium 99 years June 13, 2018 1,733 1,470,000 - 848 2014 Resale NEWTON SUITES Apartment Freehold June 18, 2018 1,238 2,600,000 - 2,100 2007 Resale District 19 NOVENA SUITES Apartment Freehold June 19, 2018 797 1,440,000 - 1,808 2004 Resale AFFINITY AT SERANGOON Apartment 99 years June 12, 2018 1,453 2,355,000 - 1,621 Uncompleted New Sale PAVILION 11 Condominium Freehold June 12, 2018 1,485 2,400,000 - 1,616 2009 Resale AFFINITY AT SERANGOON Apartment 99 years June 13, 2018 474 724,000 - 1,529 Uncompleted New Sale SOLEIL @ SINARAN Condominium 99 years June 19, 2018 958 1,628,888 - 1,700 2011 Resale AFFINITY AT SERANGOON Apartment 99 years June 14, 2018 1,152 1,847,000 - 1,604 Uncompleted New Sale THOMSON 800 Condominium Freehold June 19, 2018 1,399 1,970,000 - 1,408 1999 Resale AFFINITY AT SERANGOON Apartment 99 years June 15, 2018 474 721,000 - 1,522 Uncompleted New Sale District 12 AFFINITY AT SERANGOON Apartment 99 years June 16, 2018 474 790,000 - 1,668 Uncompleted New Sale 8 RAJA Apartment Freehold June 13, 2018 2,024 2,680,000 - 1,324 2013 Resale CHUAN GREEN Terrace 99 years June 18, 2018 1,991 2,150,000 - 1,077 2003 Resale BEACON HEIGHTS Condominium 999 years June 12, 2018 926 1,130,000 - 1,221 2012 Resale EVERGREEN PARK Apartment 99 years June 19, 2018 1,173 790,000 - 673 1999 Resale BEACON HEIGHTS Condominium 999 years June 19, 2018 893 1,180,000 - 1,321 2012 Resale GOLDEN HILL ESTATE Semi-Detached Freehold June 13, 2018 3,617 3,700,000 - 1,022 1976 Resale DE ROYALE Condominium Freehold June 18, 2018 1,259 1,738,000 - 1,380 2006 Resale GRAND REGALIA Apartment Freehold June 18, 2018 2,314 1,800,000 - 778 2004 Resale D’LOTUS Apartment Freehold June 14, 2018 807 990,000 - 1,226 2008 Resale JANSEN SPRING Apartment 999 years June 12, 2018 1,109 970,000 - 875 2001 Resale EASTPAC BUILDING Apartment Freehold June 12, 2018 1,851 1,600,000 - 864 1983 Resale KOVAN REGENCY Condominium 99 years June 14, 2018 775 1,188,000 - 1,533 2015 Resale EIGHT RIVERSUITES Condominium 99 years June 12, 2018 700 1,030,000 - 1,472 2016 Resale PAYA LEBAR CRESCENT Semi-Detached Freehold June 12, 2018 3,789 3,638,800 - 961 1987 Resale GLOBAL VILLE Apartment Freehold June 18, 2018 1,184 1,244,000 - 1,051 2000 Resale NANYANG PARK Terrace 999 years June 19, 2018 2,347 3,780,000 - 1,611 Unknown Resale ST. FRANCIS ROAD Terrace Freehold June 12, 2018 2,110 2,290,000 - 1,086 Unknown Resale RIVERCOVE RESIDENCES EC 99 years June 14, 2018 958 929,600 - 970 Uncompleted New Sale ONE ST MICHAEL’S Condominium Freehold June 18, 2018 1,249 1,680,000 - 1,345 2009 Resale RIVERCOVE RESIDENCES EC 99 years June 15, 2018 958 1,003,500 - 1,047 Uncompleted New Sale PARC HAVEN Apartment Freehold June 13, 2018 1,238 1,530,000 - 1,236 2004 Resale RIVERCOVE RESIDENCES EC 99 years June 16, 2018 1,109 1,056,000 - 952 Uncompleted New Sale RIVERBAY Apartment 999 years June 18, 2018 657 930,000 - 1,416 2014 Resale RIVERSAILS Condominium 99 years June 13, 2018 1,367 1,418,000 - 1,037 2016 Resale THE VIRIDIAN Apartment Freehold June 13, 2018 893 1,220,000 - 1,366 2015 Resale RIVERVALE CREST Apartment 99 years June 14, 2018 1,195 915,000 - 766 2002 Resale TRELLIS TOWERS Condominium Freehold June 18, 2018 1,141 1,650,000 - 1,446 2000 Resale SERANGOON GARDEN ESTATE Semi-Detached 999 years June 13, 2018 2,648 3,600,000 - 1,358 1997 Resale District 13 STADIA Apartment Freehold June 13, 2018 560 725,000 - 1,295 2010 Resale KEE CHOE AVENUE Semi-Detached Freehold June 14, 2018 2,217 3,000,000 - 1,356 1999 Resale TAI HWAN GARDEN Terrace Freehold June 13, 2018 2,605 3,000,000 - 1,154 1979 Resale THE VENUE RESIDENCES Apartment 99 years June 13, 2018 1,152 1,700,000 - 1,476 2017 Resale TERRASSE Condominium 99 years June 13, 2018 893 1,030,000 - 1,153 2014 Resale District 14 THE AMBIENCE Detached 999 years June 19, 2018 3,670 2,038,888 - 555 2009 Resale 33 RESIDENCES Apartment Freehold June 15, 2018 700 1,168,000 - 1,669 Uncompleted New Sale THE FLORIDA EC 99 years June 14, 2018 1,292 920,000 - 712 2000 Resale 33 RESIDENCES Apartment Freehold June 15, 2018 732 1,184,840 - 1,619 Uncompleted New Sale THE GARDEN RESIDENCES Apartment 99 years June 13, 2018 452 726,400 - 1,607 Uncompleted New Sale 33 RESIDENCES Apartment Freehold June 17, 2018 1,033 1,548,000 - 1,498 Uncompleted New Sale THE GARDEN RESIDENCES Apartment 99 years June 13, 2018 969 1,475,300 - 1,523 Uncompleted New Sale AVANT RESIDENCES Apartment 99 years June 12, 2018 484 760,000 - 1,569 2012 Resale THE GARDEN RESIDENCES Apartment 99 years June 15, 2018 689 1,089,500 - 1,582 Uncompleted New Sale CENTRAL GROVE Condominium 99 years June 19, 2018 1,173 1,170,000 - 997 2001 Resale THE MINTON Condominium 99 years June 12, 2018 700 740,000 - 1,058 2013 Resale EUHABITAT Condominium 99 years June 18, 2018 1,141 1,300,000 - 1,139 2015 Resale THE MINTON Condominium 99 years June 18, 2018 980 978,000 - 998 2013 Resale EUHABITAT Condominium 99 years June 19, 2018 527 673,000 - 1,276 2015 Resale THE QUARTZ Condominium 99 years June 12, 2018 1,206 1,095,000 - 908 2009 Resale GUILLEMARD EDGE Apartment Freehold June 13, 2018 517 725,000 - 1,403 2014 Resale THE SCALA Apartment 99 years June 13, 2018 850 1,206,000 - 1,418 2013 Resale LA FLEUR Apartment Freehold June 13, 2018 420 550,000 - 1,310 2014 Resale TIVOLI GARDENS Terrace 99 years June 12, 2018 1,615 1,600,000 - 991 1998 Resale NICOLE GREEN Apartment Freehold June 13, 2018 1,270 1,450,000 - 1,142 2002 Resale WATERTOWN Apartment 99 years June 13, 2018 603 760,000 - 1,261 2017 Sub Sale PARK PLACE RESIDENCES AT PLQ Apartment 99 years June 15, 2018 1,163 1,988,000 - 1,710 Uncompleted New Sale WATERTOWN Apartment 99 years June 18, 2018 807 1,138,000 - 1,410 2017 Sub Sale PARK PLACE RESIDENCES AT PLQ Apartment 99 years June 17, 2018 1,087 1,899,000 - 1,747 Uncompleted New Sale District 20 SIMS GREEN Apartment 99 years June 13, 2018 1,238 1,000,000 - 808 2003 Resale BISHAN LOFT EC 99 years June 18, 2018 1,173 1,388,000 - 1,183 2003 Resale SIMS MEADOWS Apartment Freehold June 13, 2018 969 985,000 - 1,017 2002 Resale HORIZON GREEN Terrace 99 years June 13, 2018 3,337 2,100,000 - 629 2003 Resale SIMS URBAN OASIS Condominium 99 years June 12, 2018 441 751,000 - 1,702 2017 Sub Sale HORIZON GREEN Terrace 99 years June 19, 2018 4,187 2,250,000 - 537 2003 Resale SIMS URBAN OASIS Condominium 99 years June 16, 2018 1,066 1,676,200 - 1,573 2017 New Sale MING PARK Semi-Detached Freehold June 13, 2018 3,531 4,650,000 - 1,319 1978 Resale SIXTEEN35 RESIDENCES Apartment 99 years June 13, 2018 624 919,000 - 1,472 Uncompleted New Sale JALAN KHAMIS Semi-Detached Freehold June 14, 2018 2,347 3,000,000 - 1,280 Unknown Resale SIXTEEN35 RESIDENCES Apartment 99 years June 15, 2018 797 1,192,660 - 1,497 Uncompleted New Sale NUOVO EC 99 years June 14, 2018 1,389 1,300,000 - 936 2004 Resale SIXTEEN35 RESIDENCES Apartment 99 years June 16, 2018 667 988,000 - 1,480 Uncompleted New Sale SEASONS VIEW Condominium 99 years June 13, 2018 1,152 1,320,000 - 1,146 2000 Resale SIXTEEN35 RESIDENCES Apartment 99 years June 16, 2018 624 925,000 - 1,482 Uncompleted New Sale THE GARDENS AT BISHAN Condominium 99 years June 19, 2018 883 980,000 - 1,110 2004 Resale SUITES@CHANGI Apartment Freehold June 13, 2018 409 566,000 - 1,384 2012 Resale District 21 THE ARIZON Apartment Freehold June 12, 2018 1,765 1,080,000 - 612 2010 Resale FLORIDIAN Condominium Freehold June 12, 2018 1,668 2,830,000 - 1,696 2012 Resale TORIEVILLE Apartment Freehold June 14, 2018 1,023 860,000 - 841 1994 Resale HILLVIEW GREEN Condominium 999 years June 12, 2018 1,012 1,020,000 - 1,008 1998 Resale WING FONG MANSIONS Apartment Freehold June 12, 2018 1,227 945,000 - 770 1997 Resale SPRINGDALE CONDOMINIUM Condominium 999 years June 18, 2018 926 1,100,000 - 1,188 1998 Resale District 15 THE HILLFORD Apartment 60 years June 13, 2018 398 450,000 - 1,130 2016 Resale 38 I SUITES Apartment Freehold June 13, 2018 506 848,000 - 1,676 2014 Resale District 22 AXIS @ SIGLAP Apartment Freehold June 13, 2018 936 1,260,000 - 1,345 2009 Resale J GATEWAY Condominium 99 years June 14, 2018 700 1,270,000 - 1,815 2016 Resale BLU CORAL Condominium Freehold June 12, 2018 1,087 1,240,000 - 1,141 2009 Resale THE FLORAVALE EC 99 years June 18, 2018 1,399 880,000 - 629 2000 Resale CARPMAEL THIRTY-EIGHT Apartment Freehold June 16, 2018 1,259 2,072,824 - 1,646 Uncompleted New Sale District 23 COASTARINA Apartment Freehold June 12, 2018 840 900,000 - 1,072 2006 Resale HILLSTA Terrace 99 years June 18, 2018 3,358 2,666,887 - 794 2016 Resale E-SPACE Apartment Freehold June 12, 2018 818 990,000 - 1,210 2008 Resale NORTHVALE Apartment 99 years June 12, 2018 1,668 1,100,000 - 659 1998 Resale FRANKEL ESTATE Terrace Freehold June 12, 2018 2,863 4,100,000 - 1,430 Unknown Resale PARK NATURA Condominium Freehold June 13, 2018 1,442 1,646,000 - 1,141 2011 Resale FRANKEL ESTATE Semi-Detached Freehold June 18, 2018 4,209 5,500,000 - 1,308 1956 Resale PAVILION PARK Terrace Freehold June 12, 2018 1,615 2,680,000 - 1,659 2014 Resale HERITAGE EAST Apartment Freehold June 14, 2018 398 585,000 - 1,469 2012 Resale REGENT GROVE Condominium 99 years June 13, 2018 1,163 820,000 - 705 2000 Resale MANGIS ROAD Terrace Freehold June 14, 2018 1,292 1,850,000 - 1,430 1950 Resale THE QUINTET EC 99 years June 19, 2018 2,400 1,525,000 - 635 2006 Resale EVERITT ROAD Apartment 999 years June 14, 2018 1,076 1,190,000 - 1,106 Unknown Resale THE TENNERY Apartment 99 years June 18, 2018 614 720,000 - 1,174 2014 Resale LORONG H TELOK KURAU Detached Freehold June 18, 2018 7,998 8,680,000 - 1,086 2001 Resale District 25 LORONG 106 CHANGI Terrace Freehold June 18, 2018 1,410 2,650,000 - 1,884 2001 Resale LA CASA EC 99 years June 12, 2018 1,259 915,000 - 727 2008 Resale BOSCOMBE ROAD Semi-Detached Freehold June 18, 2018 2,734 5,800,000 - 2,123 2015 Resale NORTHWAVE EC 99 years June 12, 2018 1,119 940,000 - 840 Uncompleted New Sale KARIKAL LANE Terrace Freehold June 18, 2018 1,421 2,318,000 - 1,628 Unknown Resale NORTHWAVE EC 99 years June 13, 2018 1,001 855,000 - 854 Uncompleted New Sale NEPTUNE COURT Apartment 99 years June 12, 2018 1,636 1,640,000 - 1,002 1975 Resale District 26 ONE AMBER Condominium Freehold June 18, 2018 1,701 3,135,000 - 1,843 2010 Resale CASTLE GREEN Condominium 99 years June 15, 2018 947 800,000 - 845 1997 Resale ONE EIGHTIES RESIDENCES Apartment Freehold June 18, 2018 1,281 1,838,000 - 1,435 2015 Resale THE BROOKS I Apartment Freehold June 13, 2018 818 1,126,800 - 1,377 2016 Resale SEASIDE RESIDENCES Apartment 99 years June 14, 2018 560 1,034,000 - 1,847 Uncompleted New Sale THE SPRINGSIDE Terrace Freehold June 14, 2018 1,851 2,600,000 - 1,408 1997 Resale SEASIDE RESIDENCES Apartment 99 years June 15, 2018 506 955,000 - 1,888 Uncompleted New Sale District 27 SEASIDE RESIDENCES Apartment 99 years June 15, 2018 506 982,000 - 1,941 Uncompleted New Sale ORCHID PARK CONDOMINIUM Condominium 99 years June 18, 2018 1,615 1,158,000 - 717 1994 Resale SUITES @ EASTCOAST Condominium Freehold June 13, 2018 355 520,000 - 1,464 2012 Resale PARC LIFE EC 99 years June 15, 2018 1,066 931,000 - 874 2018 New Sale SUITES @ EASTCOAST Condominium Freehold June 14, 2018 366 565,000 - 1,544 2012 Resale SEMBAWANG SPRINGS ESTATE Terrace Freehold June 19, 2018 1,701 1,780,000 - 1,045 Unknown Resale THE GERANIUM Condominium Freehold June 19, 2018 990 1,148,000 - 1,159 2006 Resale THE MILTONIA RESIDENCES Condominium 99 years June 12, 2018 2,077 1,680,000 - 809 2014 Resale THE LUCENT Apartment Freehold June 18, 2018 2,551 2,680,000 - 1,051 2011 Resale THE MILTONIA RESIDENCES Condominium 99 years June 14, 2018 1,518 1,280,000 - 843 2014 Resale THE SHORE RESIDENCES Condominium 103 years June 12, 2018 872 1,410,000 - 1,617 2014 Resale THE SHAUGHNESSY Terrace 99 years June 19, 2018 3,498 1,580,000 - 452 2006 Resale THE SOUND Condominium Freehold June 13, 2018 829 1,350,000 - 1,629 2013 Resale WATERCOVE Terrace Freehold June 16, 2018 3,466 2,400,000 - 692 Uncompleted New Sale TIVOLI GRANDE Apartment Freehold June 13, 2018 904 985,000 - 1,089 2012 Resale WATERCOVE Terrace Freehold June 16, 2018 3,466 2,400,000 - 692 Uncompleted New Sale WATER PLACE Condominium 99 years June 14, 2018 1,227 1,830,000 - 1,491 2004 Resale WATERCOVE Semi-Detached Freehold June 17, 2018 3,843 2,600,000 - 677 Uncompleted New Sale District 16 District 28 BEDOK RESIDENCES Apartment 99 years June 13, 2018 527 855,000 - 1,621 2015 Resale CABANA Terrace 103 years June 19, 2018 2,917 1,880,880 - 645 2013 Resale COSTA DEL SOL Condominium 99 years June 18, 2018 947 1,368,000 - 1,444 2003 Resale ESTE VILLA Terrace Freehold June 14, 2018 3,810 2,620,000 - 688 2013 Resale COUNTRY PARK CONDOMINIUM Condominium Freehold June 14, 2018 1,335 1,650,000 - 1,236 2003 Resale GRANDE VISTA Condominium 999 years June 18, 2018 1,636 1,750,000 - 1,070 1993 Resale D’MANOR Terrace 99 years June 14, 2018 2,723 1,790,000 - 657 2000 Resale NIM COLLECTION Terrace 99 years June 15, 2018 1,701 2,888,888 - 1,699 Uncompleted New Sale EAST COAST RESIDENCES Apartment Freehold June 14, 2018 893 1,110,000 - 1,242 2011 Resale PARC BOTANNIA Condominium 99 years June 17, 2018 667 931,000 - 1,395 Uncompleted New Sale GRANDEUR PARK RESIDENCES Condominium 99 years June 12, 2018 893 1,347,112 - 1,508 Uncompleted New Sale SUNRISE VILLA Terrace Freehold June 14, 2018 2,583 2,950,000 - 1,142 1988 Resale GRANDEUR PARK RESIDENCES Condominium 99 years June 12, 2018 1,238 1,923,000 - 1,553 Uncompleted New Sale THE GREENWICH Condominium 99 years June 14, 2018 1,227 1,600,000 - 1,304 2014 Resale OPTIMA @ TANAH MERAH Condominium 99 years June 12, 2018 1,195 1,550,000 - 1,297 2012 Resale SEA PAVILION RESIDENCES Apartment Freehold June 17, 2018 904 1,605,000 - 1,775 Uncompleted New Sale THE BAYSHORE Condominium 99 years June 12, 2018 926 926,000 - 1,000 1996 Resale WATERFRONT WAVES Condominium 99 years June 13, 2018 1,292 1,543,888 - 1,195 2011 Resale DISCLAIMER: District 17 Source: URA Realis. Updated June 26, 2018. The Edge Publishing Pte Ltd shall not be responsible for any loss or BLUWATERS Apartment 946 years June 14, 2018 2,217 1,785,000 - 805 2007 Resale liability arising directly or indirectly from the use of, or reliance on, the information provided therein. FERRARIA PARK CONDOMINIUM Condominium Freehold June 12, 2018 1,378 1,320,000 - 958 2009 Resale EC stands for executive condominium FERRARIA PARK CONDOMINIUM Condominium Freehold June 18, 2018 1,066 950,000 - 891 2009 Resale *Not all caveats reflected, owing to overwhelming number of transactions EP14 • EDGEPROP | JULY 2, 2018 DEAL WATCH Two-bedder at Sennett Residence going for $1.6 mil

| BY CHARLENE CHIN | The unit that is up for sale is a three-minute walk to the Potong Pasir partially furnished two-bed- MRT station. It is suitable for people room unit at Sennett Residence who enjoy living in a quiet neighbour- in District 13 is up for sale hood, Lim says. There is also a bus stop at $1.6 million ($1,190 psf). near the side entrance of the develop- The 1,345 sq ft unit is on ment, she adds. Residents can enjoy views of the city skyline Athe ground floor and comes with a large In May alone, there were three trans- at Sennett Residence’s pool deck patio, according to Ruth Lim, associate actions at Sennett Residence. The most marketing manager at Propnex Realty, recent one was that of a four-bedroom who is marketing the unit. The owner unit on the 16th floor that was sold for PICTURES: RUTH LIM/PROPNEX REALTY TABLES: URA, EDGEPROP is a local who is looking to downsize $4.52 million ($1,389 psf). This was to a smaller unit within the Kallang preceded by the sale of a one-bedroom Recent transactions at Sennett Residence neighbourhood. She purchased the unit unit on the fifth floor for $0.92 million CONTRACT DATE (2018) AREA (SQ FT) PRICE ($) PRICE ($ PSFPSF)) at Sennett Residence in 2014 at $1.55 ($1,613 psf) and the sale of a two-bed- May 24 3,251 4,515,000 1,38 1,3899 million ($1,152 psf). room unit on the 15th floor for $1.3 May 18 57 5700 920,000 1, 1,613613 Developed by Tuan Sing Holdings, million ($1,510 psf). May 8 861 1,300,000 1,51 1,5100 Sennett Residence was launched in In February, a unit between 1,300 and April 12 506 828,888 1,63 1,6388 2013. The 99-year leasehold develop- 1,400 sq ft was rented out for $4,300. March 29 829 1,200,000 1,44 1,4488 ment comprises four 19-storey blocks Such units at the development can fetch with a total of 332 residential units and monthly rents of $3,700 to $4,800, ac- three shops. cording to URA data. E Recent rental contracts for 1,300 to 1,400 sq ft units at Sennett Residence

LEASE DATE MONTHLY RENT ($) February 2018 4,300 November 2017 4,500 Sennett Residence is a 99-year leasehold develop- June 2017 4,500 ment comprising four 19-storey blocks with 335 units