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Visit EdgeProp.sg to ˎ nd properties, research market trends and read the latest news The week of July 23, 2018 | ISSUE 840-61
Co-Living Spotlight Gains and Losses Done Deals Hmlet: A novel approach Aurum Land keeps in Unit at The Lumos Older condos’ size and to apartment sharing step with business trends incurs $1.88 mil loss lower psf price a draw in EP6 EP12 EP13 prime districts EP14
SAMUEL ISAAC CHUA/THE EDGE SINGAPORE
Super penthouse at The Oceanfront going for $13 mil Sentosa Cove was just starting to see transaction volume and prices recover last year. How will the latest property cooling measures affect Singapore’s playground for the rich and famous and how will it fare vis-à-vis the rest of the prime districts? See our Cover Story on Pages 8 and 9.
At The Oceanfront, the biggest penthouse has a 270-degree view and sits at the crown of the tower EP2 • EDGEPROP | JULY 23, 2018 PROPERTY BRIEFS
KNIGHT FRANK JIE SHENG HOUSING AGENCY MacPherson Road, two adjoining two-storey shop- EDITORIAL EDITOR | houses; and 534 MacPherson Road, a corner two-sto- Cecilia Chow rey shophouse. CONTRIBUTING EDITOR | With a total site area of 6,089 sq ft, or an individ- Pek Tiong Gee ual land size of 1,500 to 1,529 sq ft, the properties WRITERS | Timothy Tay, Bong Xin Ying, Charlene Chin can be redeveloped to a maximum allowable GFA of DIGITAL WRITER | Fiona Ho 18,267 sq ft. Individual units can be redeveloped into a maximum allowable GFA of 4,501 to 4,589 sq ft. COPY-EDITING DESK | Elaine Lim, Evelyn Tung, The properties are zoned “residential with com- Chew Ru Ju, Shanthi Murugiah mercial at first storey” with a gross plot ratio of 3.0. PHOTO EDITOR | As non-conservation shophouses, they can be rede- Samuel Isaac Chua veloped into four-storey shophouses with commer- PHOTOGRAPHER | Albert Chua EDITORIAL COORDINATOR | cial units on the ground floor and residential units Yen Tan from the second to fourth floors. DESIGN DESK | Purchasers can also explore major additions and Tan Siew Ching, Christine Ong, Monica Lim, alterations or redevelopment asset-enhancement work Tun Mohd Zafi an Mohd Za’abah Summer Green attempts another plots of state land at the intersection of St George’s to maximise the underused plot ratio. Road and Serangoon Road has been launched for sale The shophouses enjoy prominent main road front- ADVERTISING + en-bloc sale at $48 mil MARKETING Summer Green (above, left), a freehold 13-storey at a reserve price of $133.7 million (above, right). age, and are a short seven-minute walk from Tai Seng ADVERTISING SALES development off Balestier Road, is up for collective A short four-minute walk from Boon Keng MRT MRT station. DIRECTOR, COMMERCIAL sale by tender at a reserve price of $48 million. This station, the properties have a total land area of 25,621 The expression of interest will close on Aug 8. OPERATIONS | Diana Lim translates into a land rate of $1,178 psf per plot ra- sq ft. Owners of the 29 units can expect to receive SENIOR ACCOUNT MANAGERS | Janice Zhu, James Chua tio (ppr), inclusive of a development charge of about between $2.3 million and $10.6 million each, accord- Four shophouses on Tessensohn Road ACCOUNT MANAGER | $320,000, according to the marketing agent Knight ing to Terence Ng, key executive officer at Jie Sheng going for $25 mil Bernard Wong Frank. This is the second time this year that Summer Housing Agency. A row of four contiguous freehold conservation shop- SALES STRATEGIST | Han YaoGuang Green is up for collective sale. The developer will be given a three-month call op- houses at Nos 15, 17, 19 and 21 Tessensohn Road With a site area of 14,646 sq ft, Summer Green tion to obtain the in-principle approval from the Singa- is up for sale at a reserve price of $25 million. This CIRCULATION comprises 24 apartments. The site is regular in shape pore Land Authority to purchase 8,611 sq ft of state translates into $1,399 psf on the allowable maximum DIRECTOR | Dominic Kevin Sim and has a frontage of about 30m. It is zoned “residen- land parcels that are within the project boundaries. GFA, according to the marketing agent Cushman & MANAGER | Bryan Kek EXECUTIVES | tial” under the 2014 Master Plan, with an approved The developer could apply for the outline planning Wakefield (C&W). Malliga Muthusamy, Ashikin Kader plot ratio of 2.8. permit from URA to increase the plot ratio of the res- The properties have four individual land titles and
CORPORATE Subject to URA approval, the site could be redevel- idential parcels to 2.8 from 1.4. Based on the plot ra- a total land area of 5,958 sq ft. Under the 2014 Mas- CHIEF EXECUTIVE OFFICER | oped into 54 apartments with an average size of 753 tio of 2.8, the GFA will be 95,850 sq ft, and there is ter Plan, it is zoned “residential with commercial at Bernard Tong sq ft each, owing to its maximum permissible gross an estimated development charge of $26.77 million. first storey”, with a gross plot ratio of 3.0. The GFA floor area (GFA) of about 41,010 sq ft. A pre-applica- This works out to $1,711 psf ppr. can be maximised up to 17,873 sq ft. PUBLISHER The Edge Property Pte Ltd tion feasibility study is not necessary. The winning bidder will be awarded with a call The successful bidder can efficiently construct a 150 Cecil Street #13-00 Ian Loh, executive director and head, investment and put option. six-storey rear extension over the four land plots. This Singapore 069543 and capital markets, Knight Frank Singapore, says: The shophouses are zoned “residential with com- is subject to the authorities’ approval. Tel: (65) 6232 8688 Fax: (65) 6232 8620 “Balestier is currently undergoing successful reju- mercial on first storey” with a plot ratio of 3.0, whereas Nos 15 and 21 are the original two-storey shop- venation with the opening of Zhongshan Mall, Ibis the residential rows have a plot ratio of 1.4. houses; Nos 17 and 19 each have a part-two-storey PRINTER Singapore Novena and HealthCity Novena. Despite The new development can have an estimated to- front and part-three-storey rear. Each shophouse has KHL Printing Co Pte Ltd recent government cooling measures, the price quan- tal of 130 units, based on an area of 753 sq ft each. a private car park lot. 57 Loyang Drive Singapore 508968 tum is still palatable and a low-risk acquisition to The tender will close on Aug 17. The four shophouses are being held by three sep- Tel: (65) 6543 2222 mid-sized developers.” arate ownerships, and the owners have jointly put Fax: (65) 6545 3333 Summer Green is a 12-minute drive to the CBD Four shophouses on MacPherson Road them up for sale by tender.
PERMISSION AND and a 10-minute drive to Orchard Road. up for sale Christina Sim, director of capital markets at C&W, REPRINTS The tender will close on Aug 20. A portfolio of four freehold shophouses on MacPherson says: “Despite the recent cooling measures in the res- Material in The Edge Property Road has been launched for sale with a guide price of idential property market, freehold conservation shop- may not be reproduced in any 29 units at Serangoon Road up for collective $19.6 million, according to marketing agent CBRE. The houses in city-fringe locations have withstood the test form without the written permission of the publisher sale at $133.656 mil properties can be bought as a bundle or individually. of time as favoured long-term investments.” A collection that includes seven freehold shophouses, The portfolio comprises 514 MacPherson Road, The tender will close on Aug 28. — Compiled by 15 terrace houses, four walk-up apartments and three an intermediate two-storey shophouse; 526 and 528 Bong Xin Ying E We welcome your comments and criticism: propertyeditor.sg@ bizedge.com
Pseudonyms are allowed but please state your full name, address and contact number for us to verify. Fall in June private new-home sales a result of new high prices, say analysts
| BY BONG XIN YING | to become more sluggish, as the high- Finally, 120 Grange saw 42 units trans- for new ECs. Just two months into its er additional buyer’s stamp duty may acted at a median price of $3,159 psf. launch in April, the 628-unit project rivate new-home sales took a hit discourage some investors from enter- Neighbouring and competing pro- is now almost fully sold, with only in June as new projects were being ing the market. Meanwhile, the lower- jects, Affinity at Serangoon and The one unit still available as at end-June. Plaunched at new benchmark prices, ing of the loan-to-value ratio to 75% is Garden Residences, saw relatively according to Christine Sun, head of likely to affect first-timer buyers’ abili- weaker take-up rates, at 10% of their Outlook research and consultancy at OrangeT- ty to purchase homes. They may defer respective total available units, possibly In 2H2018, new home sales are now ee & Tie. their purchase, as more time is needed owing to their benchmark pricing of dependent on launches, some of which The developers’ sales survey by URA to raise the additional capital outlay re- more than $1,500 psf in the Serangoon may be delayed or reduced because of for June showed that they sold 42% quired to make the down payment for North enclave, notes Colliers’ Song. developers being cautious of the un- fewer private homes (654 units exclud- the purchase, adds Song. OrangeTee & Tie’s Sun adds: “Sales certain market, notes Ong Teck Hui, ing executive condominiums [ECs]) for both projects could have been national director of research and con- on a m-o-m basis and 20.2% fewer Sale of new launches stronger if their launches were better sultancy at JLL. As such, new-home on a y-o-y basis. Including ECs, sales According to URA data, the top five spaced. Both projects were essential- sales for 2018 are now estimated at dipped 44% m-o-m and 34% y-o-y to private residential projects in June are ly targeting the same pool of buyers 8,000 to 9,000 units, or 15% to 25% 706 units. This brings 1H2018 develop- Margaret Ville, Affinity at Serangoon, and were cannibalising each other’s lower than in 2017. er sales to 4,090 units (excluding ECs), The Garden Residences, Twin Vew and market share by launching the pro- Home prices are likely to hold steady 32.3% lower than the 6,039 units sold 120 Grange. jects together.” from this point, after rising 7.4% in over the corresponding period in 2017. Margaret Ville sold 121 units at a According to URA, EC inventory 1H2018, notes Colliers. Projects al- In June, 726 units were launched, the median price of $1,873 psf; Affinity at continued to dwindle. Developers sold ready launched are unlikely to show highest number since 2013, which saw Serangoon sold 107 units at a median 52 new EC units in June — down from a downward trend in actual transact- 1,768 units, excluding ECs, launched. price of $1,584 psf; The Garden Resi- 137 in May — with Rivercove Resi- ed prices. For those that have yet to Following the fresh cooling measures dences transacted 64 units at a median dences in Anchorvale Lane accounting be launched, developers are likely to implemented on July 6, Tricia Song, head price of $1,662 psf; and the previously for more than half of the sales at 29 trim their average selling prices from of research for Singapore at Colliers In- launched Twin Vew recorded 64 trans- units, which were transacted at a me- their original intended aggressive pric- ternational, expects sales momentum actions at a median price of $1,350 psf. dian price of $1,000 psf, a record high ing to current achieved levels. E EDGEPROP | JULY 23, 2018 • EP3 EP4 • EDGEPROP | JULY 23, 2018 INDUSTRY WATCH
BONG XIN YING/THE EDGE SINGAPORE
The afternoon discussion panel included (from left) moderator Boaz Boon, director (real estate advisory) of VestAsia Group; Wendy Low, Knight Frank’s head of retail; Christine Li, senior director of research at Cushman & Wakefield; and JLL’s Tay.
Redas: Imperative to monitor latest cooling measures for unintended consequences
| BY EDGEPROP TEAM | come up to “a considerable amount”, he adds. This brings the total supply of housing units new launches “sensitively”. While home pric- The new measures have raised the cost to 64,840 units. If 7,000 units are withdrawn es are still poised for continued growth, the eal Estate Developers’ Association of of private home ownership for this group of owing to en bloc or collective sales, the total pace will moderate. Singapore president Augustine Tan prospective buyers, creating a “deterrent [to] translates into an annual supply of 11,568 units Even though developers still have an appe- says the government’s latest round their aspirations” to purchase their first pri- over the next five years. According to JLL, the tite to build up their landbank, collective sale of property cooling measures could vate home, says Tan. average take-up rate for private housing was owners need to adjust their price expectations have “unintended consequences” that According to Tay Huey Ying, JLL head of 11,406 units per annum for the last 10 years. to take into consideration the higher transac- Rcould result in broad, negative ramifications research and consultancy, there are 24,886 “While the numbers may look daunting, the tion cost for developers, she adds. for the property market. He was speaking at housing units under construction and anoth- unsold stock is not at a record high,” says JLL’s Redas’ Tan says the additional buyer’s stamp the Redas Property Market Update Seminar er 15,444 units yet to be constructed. Mean- Tay. She points to 4Q2014 when unsold stock duty of 10 percentage points that developers 2018 on July 17. while, the government land sales sites sold in was over 52,800 units. The GLS programme have to fork out — bringing the ABSD to a to- “The new pre-emptive measures will also 1H2018 could yield another 6,900 units, with had also pumped in enough land to generate tal of 25% plus five percentage points non-re- have a negative impact on first-time buyers,” he another 2,100 units in the pipeline, based on another 13,000 to 14,000 units per year over mittable — “is a big setback” for Singapore’s warned, citing the tightening of the loan-to-val- GLS sites sold in 2H2018 to date. the next two years. “The GLS supply today is property market. ue ratio as the measure that will hit this group of Collective sale sites sold until mid-April easily less than half of that offered in 2016 and “The market is barely into its first year of buyers the hardest. A lower LTV ratio will mean 2018 are expected to yield another 13,200 2017,” Tay adds. recovery and has not been allowed time to the homebuyer will need to stump up more cash units, with another 2,400 units coming from She therefore concludes that the market can reach a sustained supply-and-demand equi- or CPF outlay for down payments, which could sites sold from mid-April to end-June, says JLL. avoid an oversupply if developers pace their librium,” he adds. E
SAMUEL ISAAC CHUA/THE EDGE SINGAPORE
Tan says the new measures have raised the cost of private home ownership for first-time buyers, creating a deterrent to their aspirations to purchase their first private home
EP6 • EDGEPROP | JULY 23, 2018 CO-LIVING Hmlet: A novel approach to apartment-sharing
PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE | BY CHARLENE CHIN | signed on a 10-year lease. The com- pany initially started off with two- 65-year-old Singaporean prop- to three-year leases. erty investor called Mrs Lim Last November, Hmlet closed its has been credited with giv- US$1.5 million seed financing led by ing the co-founders of Hm- Aurum Investments, a Singaporean let a leg-up in their co-living multimillion-dollar venture capital Abusiness in Singapore. In 2016, after fund under Woh Hup Holdings, an speaking with Yoan Kamalski and Ze- established construction company nos Schmickrath, Lim decided to lease in Singapore. Since then, Hmlet has out her three-bedroom unit at River- been ambitious about expansion. It walk Apartments to them as a test run plans to double the number of mem- for their co-living business. bers living in Singapore by year-end, Hmlet revamped the three-bed- and expand its international footprint room unit into a four-bedroom apart- to Hong Kong, Bali and Jakarta. Cur- ment, and rented it out to individu- rently, the company already operates al tenants. In return, she was able to co-living spaces in Tokyo. generate a rental return without hav- Besides incentivising landlords, ing to actively manage the apartment another factor that Hmlet has going herself. “We didn’t know her,” recalls for it is its flexible leases. All mem- Kamalski, who is also CEO of Hmlet. bers are required to stay for at least “We found her property online back in three months — in line with URA’s the day, and she is now still the land- regulations for short-term rentals lord we’ve worked with the longest.” — and will need to pay an upfront Since 2016, the company has one-month deposit. After the initial gained 250 members, across 36 na- three months, the lease renews au- tionalities. It started with renting tomatically each month. This makes units from individual landlords, but Kamalski (left) and Schmickrath in a two-bedroom unit at Hmlet @ Sarkies it flexible for millennial profession- now also manages entire buildings to als who may be in Singapore for the achieve economies of scale. The first are British and French. This is not a co-living space operator to handle rental market has since seen “modest short term and do not want to be was Hmlet @ Joo Chiat, a building surprising. “The younger expatriates those instead? You’ll deal with only improvement”, Augustine Tan, presi- tied down by long leases, Kamalski in East Coast that is owned by list- may be more open to the co-living one party,” Cheong says. dent of the Real Estate Developers’ explains. At Hmlet spaces, the aver- ed property group Oxley Holdings. concept,” says Ong Teck Hui, JLL na- Association of Singapore told the au- age stay of members is 13 months. The company’s latest offering is tional director of research & consul- Higher gross yields, dience at the Redas Property Market Hmlet @ Sarkies, located in a 32-unit tancy. “Most Singaporeans tend not less hassle for landlords Update Seminar on July 17. According Technology-backed business apartment block called Portofino at 6 to lease, as they would rather own Asking rents for the common bed- to Tan, the rental market increased Technology is at the core of Hmlet’s Sarkies Road, off Bukit Timah Road. their homes, with long-term invest- room at Hmlet @ Sarkies is from 0.3% in 1Q2018, after a 0.9% decline operations. All members are connect- Hmlet has leased the entire building ment in mind.” $1,400 a month, while the master in the previous quarter. ed by an app, which allows them to from landlord ANB Investment. The Young Singaporeans now have bedroom costs $1,800 a month. Al- As a co-living operator, Hmlet can chat with other residents, request ser- co-founders of Hmlet spent a few a stronger ability to become home- though rents for co-living space ver- attract a large number of tenants fast, vices and lodge complaints. Data col- months revamping the units and owners because of government sup- sus standard rents do not differ much, which makes it attractive to landlords. lected through the shared platform is converting the building with a floor port, Ong says. They can unlock their the former provides additional room “On top of a higher return, every sin- also used to inform decisions, such area of 30,000 sq ft into 84 rooms Central Provident Fund accounts for services, which are charged separate- gle space we have operated breaks how to match members who live in for co-living. HDB purchases, he explains. ly, says JLL’s Ong. even within eight months,” says Ka- the same unit, and how to design The rooftop space has been turned Ong, however, does not believe According to Kamalski, Hmlet can malski. “We can do that because we spaces. The size of the kitchen, for into an entertainment deck that can be that co-living would affect rentals achieve gross returns of 3% to 4% incorporate hospitality into the core instance, was built smaller as the loaned out for private gigs. It comes and vacancy rates. The co-living in- for property owners. Comparatively, of our business.” team learned that their members of- complete with barbecue pits and a dustry constitutes just a small por- average rental yields in Singapore’s ten eat out, Schmickrath points out. waterproof sofa set. As a finishing tion of the overall rental market, so residential market is in the 2.5%- More than filling rooms While there are three major op- touch, the team hired a local Singa- the impact “would not be significant” to-3% range, notes Savills’ Cheong. Beyond filling spaces, the compa- erators in the co-living space right porean artist to paint murals on the at this juncture, he says. Ong believes that while landlords ny organises member-only events now — Hmlet, mamahome and lyf, walls. The basement car park has Alan Cheong, Savills Singapore may not necessarily get higher net at its co-living facilities, and hosts which is under the Ascott’s serviced also been partially converted into a head of research, believes co-liv- rental yields after deducting miscel- events at bars and restaurants, says residence arm — Hmlet is by far the co-working lounge. ing complements the residential laneous costs, they would be free Schmickrath, managing director of most established in Singapore. Launched in April, Hmlet @ Sarkies rental market. The co-living trend from the hassle of leasing individ- Hmlet. He believes such activities For the adventurous who want is now 75% occupied and 100% could gain traction, especially from ual units out. are “core” to building a strong com- to experience co-living, Hmlet en- leased. owners who have multiple invest- More individual landlords are munity in a co-living space. courages an “open mind”. It mixes ment properties and would like to finding it hard to rent out their apart- As Hmlet grew bigger, it was able up the personality types and genders Co-living versus rentals? avoid the hassle of sourcing for and ments. Residential rental rates fell to sign up for longer leases and adopt in a unit on purpose. “It just makes Of the 250 members, only a hand- managing tenants, and dealing with 12.5% over 15 straight quarters be- a profit-sharing model with landlords. sense when we perform our magic ful are Singaporeans; the majority wear-and-tear issues. “Why not get fore bottoming out in 3Q2017. The Hmlet @ Sarkies, for instance, is behind the scenes,” says Kamalski. E
Hmlet @ Sarkies, located in the Newton neighbourhood, is fully 100% leased and 75% occupied Hmlet members can use the rooftop space to host private barbecue parties EDGEPROP | JULY 23, 2018 • EP7 EP8 • EDGEPROP | JULY 23, 2018 COVER STORY
PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE
The 8,095 sq ft penthouse at The Oceanfront is the largest in Sentosa Cove
Super penthouse at The Oceanfront going for $13 mil Sentosa Cove was just starting to see transaction volume and prices recover last year. How will the latest property cooling measures affect Singapore’s playground for the rich and famous, and how will it fare vis-à-vis the rest of the prime districts?
| BY CECILIA CHOW a joint venture between Singapore-list- as well as total debt servicing ratio & TIMOTHY TAY | ed City Developments Ltd (CDL) and (TDSR) loan framework introduced TID (an entity owned jointly by Hong at end-June 2013. five-bedroom, duplex pent- Leong Holdings and Mitsui Fudosan). house at The Oceanfront in Launched in August 2006 at an ini- Buying opportunity Sentosa Cove is on the mar- tial average price of $1,600 psf, the Still unsold four years later, the pent- ket for $13 million ($1,606 project was fully sold before com- house is now on the market for $13 psf). The 8,095 sq ft unit pletion in 2010. It was designed by million — a markdown of 41% from Ais said to be the largest penthouse in acclaimed architect firm Wimberly, its price tag in 2014. “The current Sentosa Cove as well as the largest of Allison, Tong & Goo (WATG), which price for the penthouse represents an 29 “sky villas” at the 264-unit water- was behind The St Regis Singapore. attractive buying opportunity,” says front condo The Oceanfront. This is the third time that the su- Bruce Lye, managing partner of prop- From its vantage point on the 15th per penthouse has been put on the erty brokerage firm SRI, the market- floor — the highest level at a Sentosa market by the owner, believed to be ing agent for the unit. “Even from a Cove condo — the super penthouse a prominent Singaporean, who pur- seafront bungalow, you will not be commands a sweeping 270-degree chased the unit off-plan for $8.66 able to command such views — of the view of the sea, including the South- million ($1,070 psf) when the pro- sea, the marina and the golf course — ern Islands and the marina. The pent- ject was launched. and potential buyers recognise that.” house comes with private lift access The owner first placed the pent- In Sentosa Cove, waterfront bunga- from the basement carpark. The first house up for sale at $30 million lows have changed hands for $12 mil- level contains the living room with ($3,706 psf) in 2010, at the height lion to $14 million in recent months. wraparound balcony, kitchen, home of Sentosa Cove’s property market. For instance, a bungalow sitting on entertainment room, and five en-suite As there were no takers then, the a land area of 8,170 sq ft in Para- bedrooms including the master suite. unit was withdrawn. In 2014, it was dise Island was sold for $12 million It also houses a standalone guest suite placed on the market again, at a lower ($1,469 psf) in May. Another bun- with its own bedroom, and living and price of $22 million ($2,718 psf), to galow sold in May was located at dining areas. The second level con- factor in weaker market conditions Cove Drive and fetched $14 million tains the dining room with en suite after eight rounds of property cool- ($2,043 psf). kitchen, an outdoor entertainment ing measures, which included hikes Many of those who have come to deck and swimming pool. in the additional buyer’s stamp duty view the penthouse at The Oceanfront The exterior of the landmark 264-unit The Oceanfront at the mouth of the marina The Oceanfront was developed by (ABSD), seller’s stamp duty (SSD) are Chinese nationals, and some of EDGEPROP | JULY 23, 2018 • EP9 COVER STORY
The view of the Southern Islands and Cape Royale from the penthouse at The Oceanfront
recovered the way the tradition- pore have been subject to a 20% ABSD widen once again, unless sellers are al prime districts or condos in the on their residential property purchas- willing to take a haircut on their ask- Downtown Core have over the past es. In comparison, foreign buyers in ing prices and buyers come to terms 12 months is that [the enclave] is fully Hong Kong have to pay a 15% ad with the higher ABSD.” developed,” notes Leong Boon Hoe, valorem stamp duty plus 15% buy- Even high-end properties in the chief operating officer of List Sothe- er’s stamp duty. In the UK, the stamp prime districts on the mainland of Singa- by’s International Realty. “There are duty is 12% for properties above £1.5 pore — the traditional prime Districts no new sites to push up prices like million ($2.7 million) that are own- 9, 10 and 11 as well as Marina Bay and we’ve seen on the mainland [of Sin- er-occupied and 15% if it is a buy- the CBD Core — have not been spared gapore]. The only way for prices [in to-let, and an annual tax of £3,500 is the whiplash from the latest round of Sentosa Cove] to go up or down will imposed. In Canada, Vancouver has property cooling measures. be when demand returns or leaves.” imposed a 20% stamp duty on for- This explains why it was not just With the market recovering over eign buyers, with an additional 5% the showflats of suburban and city- the past 12 months, Ho Bee Land and property transfer tax for properties fringe projects that saw a flurry of IOI Properties saw the opportunity to priced from C$3 million ($3.1 million). activity on July 5 — the day before release for sale some of the remaining “Foreign investors will make com- the cooling measures took effect — units at the 151-unit Seascape. The parisons with other overseas markets but also those at luxury projects. Ac- The outdoor entertainment deck on the roof terrace of the penthouse latest transaction at Seascape was before making their decision,” says cording to Dominic Lee, PropNex Re- that of a 2,164 sq ft, three-bedroom Leong. “Singapore’s stamp duty re- alty head of luxury team, seven units them already own a bungalow in Sen- Steve Tay, CBRE senior vice-pres- unit sold in March for $4.5 million gime is pretty much in line with these were sold at Martin Modern that day, tosa Cove, notes Lye. “Buyers with ident of resale and a specialist in ($2,080 psf). In light of the proper- other liquidity-driven markets.” as well as three units at Wallich Resi- a $12 million to $14 million budget marketing luxury homes in Sentosa ty cooling measures, things are like- Sentosa Cove is the only place dence and two units at New Futura. will find the penthouse an attractive Cove, agrees. “In Sentosa Cove, how- ly to be on hold for now. where foreigners can buy landed alternative to a similar-sized seafront ever, one can purchase a waterfront property in Singapore. “Now that ‘It’s not over yet’ bungalow in Sentosa Cove.” or sea-facing condo for the same psf Whiplash from higher ABSD buyers have a higher hurdle to clear, PropNex’s Lee believes, however, There are very few seafront bun- price or lower.” Prior to the latest cooling measures, transaction volume will be curtailed,” that the recovery in the high-end galows available on the market now, All residential properties in Sentosa foreign buyers have already had to fac- says Desmond Sim, CBRE head of re- market has not been derailed by the notes SRI’s Lye. Those available are Cove are 99-year leasehold. While the tor in the ABSD of 15% and SSD for search for Singapore and Southeast property cooling measures. “The av- going at premium prices. For instance, Sentosa Cove luxury condo market has the first three years after purchase (re- Asia. “Deals will have to go back erage market upturn lasts 17 quar- SRI is marketing a bungalow at 227 languished, 99-year leasehold projects duced from four years in March 2017). to the drawing board, as the price ters,” he estimates. “We’ve seen only Ocean Drive for $25 million. The in other parts of the Core Central Re- Since July 6, foreigners in Singa- gap between buyers and sellers will four quarters. Despite the property house sits on a land area of 7,815 gion (CCR) — such as Marina One cooling measures, it’s not over yet.” sq ft, which translates into $3,199 Residences and Wallich Residence at LIST SOTHEBY’S There were some “knee-jerk reac- psf. That is almost on a par with the Tanjong Pagar Centre — have hit new tions” as investors took stock of the psf price at which another house on highs in recent months. market in light of this latest round Ocean Drive was sold in 2012, when At Wallich Residence at Tanjong of cooling measures. Anecdotal evi- it changed hands for $32.5 million. Pagar Centre, a 3,509 sq ft, four-bed- dence was that an offer for a pent- The house had a land area of 10,107 room penthouse on the 58th floor was house at Nassim Mansion was pulled sq ft, and the price of $3,214 psf is sold for $16 million ($4,560 psf) last owing to the property cooling meas- still the highest achieved for a bun- month — an all-time high for the lux- ures. The penthouse at the 72-unit galow in Sentosa Cove. ury condo in terms of absolute and Nassim Mansion was on the market psf prices. Meanwhile, a 6,469 sq ft for $25 million. The 7,115 sq ft, dou- Fully developed penthouse at Marina One Residenc- ble-storey unit has four bedrooms The price of $1,606 psf for the pent- es was sold for $18 million ($2,782 and five bathrooms, and views of house at The Oceanfront is equiva- psf) last month. It was the first pent- the surrounding greenery. The free- lent to the prices of new launches house sold at the project and the deal hold Nassim Mansion was completed in suburban and city-fringe projects, was brokered by SRI. in 1977, but the penthouse was re- notes SRI’s Lye. “The reason Sentosa Cove hasn’t The living room of the 7,115 sq ft, four-bedroom penthouse at Nassim Mansion. It was cently fully renovated. The property completely renovated and is on the market for $25 million. is located at Nassim Hill, one of the LIST SOTHEBY’S LIST SOTHEBY’S most coveted addresses in Singapore. Simon Wong of List Sotheby’s, who is marketing the penthouse at Nassim Mansion, has relisted it for sale at $25 million, although the price is now negotiable. “Besides price, buyers of luxury homes look at factors such as quali- ty, uniqueness, lifestyle and invest- ment considerations such as suit- ability/wealth preservation/legacy planning/portfolio balancing needs,” says List Sotheby’s Leong. For those looking for good deals in Sentosa Cove, the penthouse at The Oceanfront may prove to be The grand staircase of the penthouse at Nassim Mansion The newly fitted kitchen at the penthouse of Nassim Mansion the best yet. E EP10 • EDGEPROP | JULY 23, 2018 NEW LAUNCH
SP SETIA
Despite the property cooling measures introduced just a week earlier, a crowd of 3,000 thronged the weekend preview of Daintree Residence
Daintree Residence previews at average of $1,800 psf
PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE SP SETIA | BY CECILIA CHOW |
ast weekend (July 14 and 15) saw the Daintree Residence prices preview of Daintree Residence, Malay- UNIT TYPE STARTING PRICE PRICE ($) PSF ($) sian developer SP Setia’s latest project One-bedroom 0.98 mil 1,821 in Singapore. The 327-unit, low-rise con- Two-bedroom classic 1.08 mil 1,791 dominium is located on Toh Tuck Road, Two-bedroom standard 1.25 mil 1,760 Lin a quiet residential area off Upper Bukit Ti- Th ree-bedroom 1.8 mil 1,798 mah Road. Four-bedroom To be advised TBA Even though it was just over a week after the government’s ninth round of property cool- ing measures took effect on July 6, there was a crowd of 3,000 at the sales gallery over the pre- Park Colonial was launched on July 5, and view weekend. The latest cooling measures in- achieved 51% sales as at last Sunday. The show- cluded a five-percentage-point hike in additional flat has been closed “till further instruction by buyer’s stamp duty for citizens and permanent the management”. The developer is a consor- residents buying second and subsequent homes, tium led by CEL Development, the property and a tightening of the loan-to-value (LTV) limit development and investment arm of Singa- by 5ppt. For foreign buyers, ABSD was hiked to pore-listed construction group Chip Eng Seng 20%. However, first-time homebuyers — both Corp, in collaboration with Heeton Holdings citizens and permanent residents — were spared and KSH Holdings. any increase in stamp duty. Stirling Residences was launched on the Given Daintree Residence’s location just off same day as Park Colonial and has sold close Upper Bukit Timah, it appeals to families that to 300 units since. The project is a joint ven- want to live near top schools such as Methodist ture between two mainland Chinese groups, Girls’ School, Hwa Chong Institution, Nation- Nanshan Group and Hong Kong-listed Logan al Junior College and Ngee Ann Polytechnic. Property Holdings. There are also international schools nearby — DIMENSIONS International College, German A scale model of the development showing the lush landscaping and seamless 600m “treetop walk” on the Luxury fittings European School, Singapore Korean Interna- rooftops of the interconnected blocks The five-storey Daintree Residence offers one- tional School and Swiss School. to four-bedroom units. Units on the first and tion for SP Setia, apart from unit sizes, finish- recent launches in the Rest of Central Region fifth levels feature a 4.3m loft-like ceiling. The Priced to market ing and fittings as well as facilities. (RCR), for instance, the 805-unit Park Colo- other typical units on the second and third lev- As the majority of the buyers are expected to Daintree Residence will be priced at an av- nial at Woodleigh and the 1,259-unit Stirling els have a 2.9m ceiling height. be homeowners, pricing is a major considera- erage of $1,800 psf. This puts it in line with Residences on Stirling Road in Queenstown. To differentiate Daintree Residence from EDGEPROP | JULY 23, 2018 • EP11 NEW LAUNCH
The showflat of the three-bedroom unit with a 4.3m ceiling height – for units on the first and fifth levels The three-bedroom showflat showcases DeDietrich kitchen appliances, a concealed smart storage system and marble flooring the other projects in the same league, SP Setia has upped the ante by offering luxury finishing and fittings for the units: compressed marble flooring for the living room (black-and-white scheme for the one- and two-bedroom units, warm tones for the three- and four-bedroom units); walnut engineered timber flooring for all bedrooms; the latest line of kitchen appli- ances by French brand DeDietrich, including an integrated refrigerator; and top-end brand Duravit bathroom fittings. All apartments are fitted with smart home features, including Daikin smart air-conditioners, a concealed “deluxe storage system” and can- tilevered wardrobe for greater space efficiency.
Rising land prices In April last year, SP Setia outbid 23 others to win the hotly contested Daintree Residence site in a government land tender. The devel- oper paid $265 million ($939 psf ppr) for the 201,517 sq ft, 99-year leasehold site. There have been no new condo launches in the Toh Tuck area since The Creek @ Bukit The showflat of the two-bedroom unit with a 4.3m ceiling height (above), a feature that families can capital- was launched in November 2013. The 260-unit ise on for the second bedroom by installing a bunk bed (right) freehold condo adjacent to Daintree Residenc- es obtained its temporary occupation permit activity in the Toh Tuck-Kismis area since the to create a new development with about 186 ly bring the land rate down to $1,100 psf ppr, last year. Developed by niche developer Chiu start of the year. In February, Singapore-listed units. The project is likely to come onstream which is still 17% higher than Daintree Resi- Teng Group, it is substantially sold to date. property developer Roxy-Pacific Holdings ac- this year-end or early next year. dence’s land cost. Boutique development Kismis Residences, quired a 9,473 sq ft bungalow site at 19 Lorong Another en bloc sale in the area was the 210- Located a 10-minute drive from Toh Tuck a 31-unit freehold, terraced housing project, Kismis for $5.688 million ($800 psf ppr), in a unit Goodluck Garden on Toh Tuck Road. The Road is Hilliew Rise, where Hong Leong Group was launched last year and was fully sold by joint venture with TE2 Development. The two condo was sold to Qingjian Group of Compa- recently won a government land site with a May. The houses were priced from $4 mil- companies also bought a neighbouring 99-year nies for $610 million ($1,210 psf ppr) in March. bid of $460 million ($1,067 psf ppr) under lion to $5 million, or an average of $2,415 psf leasehold site, the 43-unit Kismis View, en bloc As the project has a high development base- the two-envelope system based on design and based on land area. for $102.75 million ($855 psf ppr) in Janu- line, no development charge will be incurred bid price. The new residential development at There has been quite a lot of en bloc sale ary. They intend to amalgamate the two sites for the 10% balcony area. This will effective- Hillview Rise is likely to be launched next year. It looks like Daintree Residence will have SP SETIA a clear runway over the next few months, with no other competing new launches in the neighbourhood.
Focus on landscape and design In conceptualising Daintree Residence, SP Se- tia has once again focused on architecture and landscaping. The developer is a winner of 10 FIABCI World Prix d’Excellence Awards, widely regarded as “the Oscars of real estate”. Designed by ADDP Architects, Daintree Residence comprises two wings: The Valley Wing, near the drop-off point, will have 137 units, while the Rainforest Wing will contain 190 units. The rooftop of the development has been converted into a 600m seamless “treetop walk”, offering unblocked views of Bukit Ti- mah Nature Reserve and Bukit Timah Hill. A 35,000 sq ft space has also been created for landscaped gardens and facilities such as an aqua gym and Jacuzzi. Daintree Residence is scheduled to launch on The bathroom of a typical one- or two-bedroom July 28. SP Setia says it will be rewarding buy- Daintree Residence will be launched on July 28, a fortnight after the preview unit, with Duravit fittings ers with a yet undisclosed “special discount”. E EP12 • EDGEPROP | JULY 23, 2018 SPOTLIGHT Aurum Land keeps in step with business trends
PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE | BY BONG XIN YING | people still need that face-to-face in- teraction and personal touch, which oh Hup Holdings, a pri- Hmlet offers,” says Yong. vately owned construc- tion and civil engineer- Property development ing group, has a long With Yong at the helm, Aurum Land history that dates back has expanded further. In May, it Wto the 1940s. That has not stopped made a bulk purchase of eight units Michelle Yong, a fourth-generation at Balmoral Gardens for nearly $83 family business leader in the group, million. It amalgamated the adjacent from keeping its property development site at 11 Balmoral Road, which it subsidiary Aurum Land up-to-date had acquired. with changes in the business arena. Named The Hyde, which was in- More than a decade ago, Yong took spired by Hyde Park in London, the over Aurum Land and expanded it. In new development will have more addition to property develop ment, its than 100 units. business portfolio now encompasses The Balmoral development is two co-working spaces — one cater- Aurum Land’s biggest project, com- ing to start-ups and corporates, and prising mainly three-bedroom units. another bringing together fitness and Besides the Balmoral development, wellness professionals — and an in- Aurum Land also purchased the 22,800 vestment in a co-living start-up. “Au- sq ft site at 12 Amber Road. With the rum Land is now reinvent ing itself heritage of the East as a reference, the from being not just a property de- new development on the site, Nyon, Yong: Despite the function of the digital in the digital world these days, veloper, but also to be a space and will have Peranakan influences. people still need that face-to-face interaction and personal touch business innovator,” says Yong, who “Nyon will have a more futuristic is its director. feel, with the exterior of the building general manager at Core Collective. having a lace veil texture. The common Collision 8 co-working More than 40 professionals have area is going to be really bright and Aurum Land’s co-working space busi- congregated there four months into colourful, with features like Perana- ness, Collision 8, boasts a diverse its opening. In such a short span, kan porcelain tiles,” says Yong. Aurum community that looks to scale their 1,700 members have enjoyed the ser- Land will be working with architec- businesses together. Collision 8 has vices that Core Collective has provid- tural firm Park + Associates, and 2nd 277 members: 50% are start-ups; ed, says Yong. Edition interior design. 15% to 20%, corporates; and 10% Located in the CBD at 79 Anson Both The Hyde and Nyon are ex- to 15%, investors. Road, Core Collective spans Lev- pected to be launched by 1Q2019. When Yong founded Collision 8 two els 1, 21 and 22, with a total area Aurum Land has bagged develop- years ago, the co-working segment in of 23,500 sq ft and offering a wide ment awards such as the South East Singapore was just starting to crowd, range of services from physiotherapy Asia Property Award for the Best Bou- with big players such as WeWork and and body wellness, to Pilates, box- tique Developer in 2015. JustCo dominating the market. ing and even ballet. Its 1919 development, a collection “Our timing for Collision 8 was The idea for Core Collective came of 75 black-and-white apartments in really bad,” says Yong. “We opened about from Yong’s experience with The common area on Level 22 of 79 Anson Road encourages interaction between the Mount Sophia neighbourhood just when the supply was starting to her osteopath and boxing instructors, personal trainers and their clients propelled the developer to fame. The take off exponentially, and the price who faced difficulties in setting up project bagged the Silver Residential war started. their own businesses. month. On Level 22, the studios are up round that raised a total of US$1.5 I-DEA Award in 2012, and was the “It is hyper-competitive, but I do “I started to think that the co-work- for rent at $58 to $118 an hour. million ($2.1 million) in November. Silver Winner of Residential (Low believe there is a real demand for ing model could be very beneficial to “The professionals would be pay- Yong says the Hmlet investment Rise) at the FIABCI World Prix d’Ex- co-working. I don’t think this is a all these fitness and wellness profes- ing less for a similar space elsewhere, came about through an introduction cellence Awards in 2017. passing phase, as this is a new way sionals who would like to start out but they would not have the avail- from a Collision 8 member. “We, as a Following 1919 and Three 11, a 65- that people want to work and it’s not on their own, but lack the capital to able facilities to utilise. It is a close group, did not know anything about unit condominium in Upper Thom- just start-ups who think like this.” do so,” says Yong. Closing the gap community with a lot of cross-re- venture funds or venture investing, son, Aurum Land went on to develop in this industry with Core Collective, ferrals,” says Core Collective’s Loh. but with Collision 8, we met many The Orient, a 52-unit boutique condo Core Collective Yong lowered the barriers to entry by seasoned investors whom we con- at Pasir Panjang. Launched in 2015, With co-working in vogue, Yong takes eliminating the need for the profes- Hmlet investment sulted with,” she says. The Orient has only four unsold units. an unconventional stand with Core sionals to take up a two- to three- Just last year, Yong launched Aurum “Hmlet chose Aurum Land not What’s next for Aurum Land? Yong Collective, a collaborative centre for year office rental lease. Investments, a Singapore-based mul- because we gave them a high valu- is setting her sights on overseas ex- fitness and wellness professionals There are a total of 17 treatment and ti-million-dollar venture capital fund ation, but because they believe in us; pansion, where she sees “big poten- and enthusiasts. consultation rooms, seven premium that invests in start-ups that have and, along with all sorts of synergies tial”, especially for Core Collective. As a community and co-working suites and seven studios at Core Col- synergies with the group’s core busi- in our expertise and the connections To be sure, the company will contin- centre, Core Collective fosters entrepre- lective. The rooms on Level 21 meas- nesses. Aurum Investments made its we’ve been making, we grow together. ue to pursue business diversification, neurship, and facilitates the cross-shar- ure 120 to 400 sq ft, and can be rented first choice with Singapore co-living “Despite the function of the dig- all while keeping up with trends in ing of knowledge, explains Alex Loh, out at rates of $30 an hour to $11,000 a space start-up Hmlet, and led a seed ital in the digital world these days, the property industry. E
Along with various other facilities, the boxing ring is For a similar space elsewhere, professionals would be paying less, but they would not a prominent feature on Level 22 of 79 Anson Road have the use of facilities like those provided at Core Collective EDGEPROP | JULY 23, 2018 • EP13 GAINS AND LOSSES
ALBERT CHUA/THE EDGE SINGAPORE SAMUEL ISAAC CHUA/THE EDGE SINGAPORE
The seller of a three-bed- room unit at The Lumos lost $1.88 million, the highest loss in the resale market over the week in review
A sale at The Waterside made the highest gain over the period of July 3 to 10. The seller reaped a profit of $1.85 million over 8.9 years. Unit at The Lumos incurs $1.88 mil loss
| BY CHARLENE CHIN | marks the third time the unit has changed hands. It was purchased from the developer he sale of a three-bedroom unit at The at $2.30 million ($1,398 psf) back in 2005, and Lumos, off Grange Road in District 9, sold for $2.67 million ($1,620 psf) almost two topped losses for property resales for years later. From that transaction, the original the week of July 3 to 10. The 1,755 sq seller reaped a 16% profit of $365,980, or an ft unit on the 11th floor was sold for annualised profit of 10% over 1.6 years. T$3.75 million ($2,173 psf) on July 10. The sell- It was, however, the unit’s second owner er purchased the unit for $5.63 million ($3,207 who made the biggest gains from the property. psf) in 2007. He sustained a 33% loss of $1.88 He reaped a 52% profit of $1.39 million, or an million, or an annualised loss of 4% over 10.9 annualised profit of 8% after 5.7 years, after years. This is the largest loss recorded at the selling it at $4.1 million ($2,463 psf). freehold development. Meanwhile, the most profitable transaction and Guillemard Village. It will be a five-min- 7%, over 12.7 years. The Shelford is a 12-min- The second highest loss for the week re- for the week was the sale of a four-bedroom unit ute walk to the upcoming Katong Park MRT ute walk to Tan Kah Kee MRT Station on the sulted from the sale of a four-bedroom unit at The Waterside in District 15. The 2,400 sq Station on the Thomson-East Coast Link, slat- Downtown Line. at The Sail @ Marina Bay in District 1. The ft unit on the 11th floor changed hands at $4.4 ed for completion in 2023. The third most profitable deal was at Bis- 1,647 sq ft unit on the sixth floor was sold for million ($1,833 psf) on July 4. The seller raked The second most profitable transaction was han 8, where a three-bedroom unit changed $2.8 million ($1,700 psf) on July 9. The sell- in a 73% profit of $1.85 million, or an annual- of a unit at The Shelford, off Dunearn Road in hands for $1.72 million ($1,125 psf) on July er incurred a 31% loss of $1.26 million, or an ised profit of 6% over 8.9 years. He purchased District 11. A two-bedroom unit on the fourth 5. The seller made a 136% profit of $990,000, annualised loss of 7% after a 5.4-year hold- the home in 2009, at $2.55 million ($1,062 psf). floor was sold for $1.94 million ($1,875 psf) on or an annualised profit of 4% over 19.5 years. ing period. It was purchased in 2013 for $4.1 The Waterside is a freehold development July 6. The seller purchased the unit in 2005 The 1,528 sq ft unit is on the ground floor of million ($2,463 psf). along Tanjong Rhu Road, and is a short drive for $870,000 ($842 psf). He raked in a 123% the development, and was bought in 1999 for This transaction at The Sail @ Marina Bay to shopping malls such as Leisure Park Kallang gain of 1.1 million, or an annualised profit of $730,000 ($478 psf). E
URA, EDGEPROP
Top 10 gains and losses from July 3 to 10 Most profi table deals (non-landed)
PROJECT DISTRICT AREA (SQ FT) SOLD ON (2018) SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) PROFIT ($) PROFIT (%) ANNUALISED PROFIT (%) HOLDING PERIOD (YEARS) 1 Th e Waterside 15 2,400 July 4 1,833 July 31, 2009 1,062 1,850,000 73 6 8.9 2 Th e Shelford 11 1,033 July 6 1,875 Oct 31, 2005 842 1,068,000 123 7 12.7 3 Bishan 8 20 1,528 July 5 1,125 Jan 1, 1999 478 990,000 136 4 19.5 4 Sanctuary Green 15 1,399 July 9 1,201 May 26, 2006 572 880,000 110 6 12.1 5 Th e Serenade @ Holland 10 1,884 July 5 1,194 Feb 23, 2007 743 850,000 61 4 11.4 6 Carabelle 5 1,292 July 10 1,305 June 12, 2009 658 835,000 98 8 9.1 7 Th e Belleforte 12 1,335 July 9 1,259 April 25, 2005 659 800,000 91 5 13.2 8 Th e Gardens At Bishan 20 1,206 July 4 1,128 Jan 28, 2002 495 763,040 128 5 16.4 9 Savannah Condopark 18 2,293 July 9 737 May 11, 2007 449 659,520 64 5 11.2 10 Clementi Park 21 2,368 July 5 1,108 Nov 17, 2009 845 625,000 31 3 8.6
Non-profi table deals
PROJECT DISTRICT AREA (SQ FT) SOLD ON (2018) SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) LOSS ($) LOSS (%) ANNUALISED LOSS (%) HOLDING PERIOD (YEARS) 1 Th e Lumos 9 1,755 July 10 2,137 Aug 20, 2007 3,207 1,877,000 33 4 10.9 2 Th e Sail @ Marina Bay 1 1,647 July 9 1,700 Jan 30, 2013 2,463 1,256,000 31 7 5.4 3 Miro 11 1,421 July 4 1,610 Feb 20, 2012 2,002 556,700 20 3 6.4 4 Th e Sail @ Marina Bay 1 861 July 5 1,939 Feb 2, 2010 2,367 368,000 18 2 8.4 5 Savannah Condopark 18 1,023 July 10 851 May 2, 2014 958 110,000 11 3 4.2 6 Th e Orange Grove 10 2,153 July 9 2,253 June 18, 2009 2,290 80,000 2 0 9.1 7 Caspian 22 1,195 July 6 1,096 Oct 9, 2012 1,155 70,000 5 1 5.7 8 Edelweiss Park Condominium 17 1,055 July 9 842 Oct 29, 2012 905 67,000 7 1 5.7 9 Prime Residence 14 581 July 5 1,049 Jan 4, 2012 1,134 49,200 7 1 6.5 10 Seletar Park Residence 28 527 July 6 1,213 Aug 23, 2012 1,259 24,137 4 1 5.9
Note: Computed based on URA caveat data as at July 17 for private non-landed houses transacted between July 3 to 10. Th e profi t-and-loss computation excludes transaction costs such as stamp duties. EP14 • EDGEPROP | JULY 23, 2018 DONE DEALS
Older condos’ size and lower psf price a draw in prime districts
PICTURES: THE EDGE SINGAPORE | BY TIMOTHY TAY |
he latest property cooling measures could cause homebuyers to search for more affordable op- tions in the resale market. “Older condos have larger unit sizes and a more spacious living area,” says Jacqueline Wong, Savills Singa- Tpore head of residential services and private office. “The downside is that these old units will be in need of renovations.” As it is, some people have started to look at the re- sale market in the prime districts. A recent sale was at The Tomlinson, a 29-unit freehold development at the corner of Tomlinson and Cuscaden Roads in prime District 10. The 20-storey luxury condo was complet- ed 16 years ago and developed by Wing Tai Holdings. On July 3, a five-bedroom unit on the 17th floor was sold for $7.2 million ($1,944 psf). The seller had purchased it for $5.5 million ($1,485 psf) in 2004. It is perceived to be a bargain because, across the road, Park House was sold en bloc in June for $375.5 million, or a record-breaking $2,910 psf per plot ratio (ppr). Based on the land price, its break- A 3,305 sq ft, three-bedroom unit at the 40-year-old even price is estimated at $3,500 psf. Cairnhill Plaza was sold for $1,740 psf recently Meanwhile, YTL Land has previewed units at the luxury 3 Orchard By-the-Park at prices start- In the vicinity, several of the older condos have ing from $3,490 psf. The 77-unit luxury condo is either been put up for collective sale or already been designed by Antonio Citterio, famous for his de- sold en bloc. Last month, Elizabeth Towers across signs of the Bulgari Hotels & Resorts. the road was put up for en bloc sale for $610 mil- Units in older condos such as the 40-year-old lion, or a land rate of $2,416 psf ppr. Cairnhill Plaza tend to attract local buyers who Further down Cairnhill Road, Low Keng Huat are already hunting for homes in the prime districts purchased Cairnhill Mansions en bloc, along with and want sizeable units. They need to bear in mind, two neighbouring plots for a total of $100 million. however, the renovation costs and higher cash out- The listed construction group-cum-developer in- lay required for the down payment, in view of the tends to amalgamate the three sites. The price for lower loan-to-value limit introduced from July 6, the Cairnhill Mansions site translates into a land says Jason Tan, executive director of boutique lux- rate of $2,311 psf ppr. ury marketing agency JTResi. It is no surprise that homebuyers are gravitating Cairnhill Plaza is a 204-unit, freehold apartment towards the older units for bigger space and also at- project completed in 1978 and located in prime District tractive psf prices in the prime districts. While prices 9. A 3,305 sq ft, three-bedroom unit on the 15th floor of these older condos have risen, they have not soared changed hands for $5.75 million ($1,740 psf). It was last the way land rates in the Cairnhill and Cuscaden areas transacted for $5.45 million ($1,649 psf) in March 2014. have over the past year. E A five-bedroom unit at The Tomlinson was sold for $1,944 psf early this month
Residential transactions with contracts dated July 3 to 10
LOCALITIES DISTRICTS Singapore — by postal district LAND AREA/ UNIT City & Southwest 1 to 8 FLOOR AREA TRANSACTED PRICE COMPLETION TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($ PSF) DATE SALE Orchard/Tanglin/Holland 9 and 10 MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 1,152 2,841,000 2,467 2017 New Sale Newton/Bukit Timah/Clementi 11 and 21 MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 1,152 2,758,000 2,395 2017 New Sale Balestier/MacPherson/Geylang 12 to 14 MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 1,152 2,862,000 2,485 2017 New Sale East Coast 15 and 16 MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 1,152 3,174,000 2,756 2017 New Sale Changi/Pasir Ris 17 and 18 MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 1,152 2,790,000 2,422 2017 New Sale Serangoon/Thomson 19 and 20 MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 1,152 2,809,000 2,439 2017 New Sale West 22 to 24 MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 1,582 3,673,000 2,321 2017 New Sale North 25 to 28 MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 700 1,872,000 2,676 2017 New Sale MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 721 1,898,000 2,632 2017 New Sale MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 1,281 2,784,000 2,173 2017 New Sale MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 1,163 2,598,000 2,235 2017 New Sale MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 1,561 3,681,000 2,358 2017 New Sale MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 1,012 2,550,240 2,520 2017 New Sale MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 1,012 2,532,420 2,503 2017 New Sale MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 1,012 2,541,330 2,512 2017 New Sale MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 721 1,870,000 2,593 2017 New Sale MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 710 1,849,000 2,603 2017 New Sale MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 689 1,762,200 2,558 2017 New Sale MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 678 1,742,400 2,569 2017 New Sale MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 721 1,854,000 2,571 2017 New Sale MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 700 1,801,000 2,574 2017 New Sale MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 721 1,836,000 2,546 2017 New Sale MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 1,582 3,639,000 2,300 2017 New Sale MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 1,152 2,862,000 2,485 2017 New Sale MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 1,152 3,297,000 2,863 2017 New Sale LAND AREA/ UNIT FLOOR AREA TRANSACTED PRICE COMPLETION TYPE OF THE SAIL @ MARINA BAY Apartment 99 years July 5, 2018 861 1,670,000 1,939 2008 Resale PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($ PSF) DATE SALE THE SAIL @ MARINA BAY Apartment 99 years July 9, 2018 1,647 2,800,000 1,700 2008 Resale District 1 THE SAIL @ MARINA BAY Apartment 99 years July 9, 2018 614 1,360,000 2,217 2008 Resale MARINA ONE RESIDENCES # Apartment 99 years July 3, 2018 2,250 6,918,000 3,075 2017 New Sale District 2 MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 1,152 2,758,000 2,395 2017 New Sale ALTEZ Apartment 99 years July 3, 2018 753 1,480,000 1,964 2014 Resale MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 1,152 2,768,000 2,403 2017 New Sale INTERNATIONAL PLAZA Apartment 99 years July 4, 2018 1,507 1,650,000 1,095 1976 Resale MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 1,152 3,334,000 2,895 2017 New Sale WALLICH RESIDENCE AT T MARINA ONE RESIDENCES Apartment 99 years July 4, 2018 1,152 2,778,000 2,412 2017 New Sale ANJONG PAGAR CENTRE Apartment 99 years July 3, 2018 646 2,113,888 3,273 2017 New Sale EDGEPROP | JULY 23, 2018 • EP15 DONE DEALS
Residential transactions with contracts dated July 3 to 10
LAND AREA/ UNIT LAND AREA/ UNIT FLOOR AREA TRANSACTED PRICE COMPLETION TYPE OF FLOOR AREA TRANSACTED 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 WALLICH RESIDENCE AT PARC MACKENZIE Apartment Freehold July 5, 2018 1,098 1,570,000 1,430 2009 Resale TANJONG PAGAR CENTRE Apartment 99 years July 5, 2018 1,991 8,322,095 4,179 2017 New Sale PARC SOPHIA Apartment Freehold July 6, 2018 667 1,035,000 1,551 2011 Resale WALLICH RESIDENCE AT THE LUMOS Apartment Freehold July 10, 2018 1,755 3,750,000 2,137 2011 Resale TANJONG PAGAR CENTRE Apartment 99 years July 5, 2018 646 2,280,380 3,531 2017 New Sale VIVACE Apartment 999 years July 3, 2018 420 848,000 2,020 2012 Resale WALLICH RESIDENCE AT WILKIE COURT Apartment Freehold July 9, 2018 1,044 1,500,000 1,437 1991 Resale TANJONG PAGAR CENTRE Apartment 99 years July 5, 2018 1,313 4,026,195 3,066 2017 New Sale District 10 District 3 CASABELLA Condominium Freehold July 10, 2018 3,078 3,250,000 1,056 2005 Resale ALESSANDREA Apartment Freehold July 6, 2018 1,001 1,500,000 1,498 2003 Resale CORONATION GROVE Condominium 999 years July 5, 2018 1,044 1,700,000 1,628 1985 Resale ARTRA Apartment 99 years July 5, 2018 1,410 2,555,800 1,813 Uncompleted New Sale D’LEEDON Condominium 99 years July 3, 2018 1,356 2,100,000 1,548 2014 Resale ARTRA Apartment 99 years July 5, 2018 829 1,703,800 2,056 Uncompleted New Sale HOLLAND GARDENS Semi-Detached 999 years July 6, 2018 3,423 5,820,000 1,699 1997 Resale ARTRA Apartment 99 years July 5, 2018 786 1,597,900 2,034 Uncompleted New Sale OEI TIONG HAM PARK Detached Freehold July 6, 2018 13,466 18,300,000 1,359 Unknown Resale ARTRA Apartment 99 years July 5, 2018 1,044 1,778,500 1,703 Uncompleted New Sale PARVIS Condominium Freehold July 3, 2018 1,701 3,250,000 1,911 2012 Resale MARGARET VILLE Apartment 99 years July 3, 2018 1,184 2,317,000 1,957 Uncompleted New Sale RV EDGE Apartment Freehold July 4, 2018 366 775,000 2,118 2013 Resale MARGARET VILLE Apartment 99 years July 5, 2018 915 1,633,700 1,786 Uncompleted New Sale THE MONTANA Apartment Freehold July 5, 2018 936 1,740,000 1,858 2002 Resale MARGARET VILLE Apartment 99 years July 5, 2018 915 1,569,000 1,715 Uncompleted New Sale THE ORANGE GROVE Condominium Freehold July 9, 2018 2,153 4,850,000 2,253 2010 Resale MARGARET VILLE Apartment 99 years July 5, 2018 915 1,686,000 1,843 Uncompleted New Sale THE SERENADE @ HOLLAND Condominium 99 years July 5, 2018 1,884 2,250,000 1,194 2004 Resale MARGARET VILLE Apartment 99 years July 5, 2018 829 1,510,200 1,822 Uncompleted New Sale THE TOMLINSON Apartment Freehold July 3, 2018 3,703 7,200,000 1,944 2002 Resale MARGARET VILLE Apartment 99 years July 5, 2018 463 866,700 1,873 Uncompleted New Sale District 11 MARGARET VILLE Apartment 99 years July 5, 2018 657 1,192,500 1,816 Uncompleted New Sale 26 NEWTON Apartment Freehold July 5, 2018 775 2,058,058 2,656 2016 Resale MARGARET VILLE Apartment 99 years July 5, 2018 657 1,210,300 1,843 Uncompleted New Sale LA SUISSE Condominium 999 years July 9, 2018 2,099 2,580,000 1,229 1993 Resale MARGARET VILLE Apartment 99 years July 5, 2018 657 1,153,500 1,757 Uncompleted New Sale MIRO Apartment Freehold July 4, 2018 1,421 2,288,000 1,610 2012 Resale MARGARET VILLE Apartment 99 years July 5, 2018 657 1,166,300 1,776 Uncompleted New Sale BUCKLEY ROAD Semi-Detached Freehold July 4, 2018 4,908 8,350,000 1,702 Unknown Resale MARGARET VILLE Apartment 99 years July 5, 2018 969 1,737,700 1,794 Uncompleted New Sale GREENWOOD WALK Terrace Freehold July 10, 2018 4,198 6,938,000 1,651 1991 Resale MARGARET VILLE Apartment 99 years July 5, 2018 969 1,781,400 1,839 Uncompleted New Sale PARK INFINIA AT WEE NAM Condominium Freehold July 6, 2018 560 1,220,000 2,180 2008 Resale MARGARET VILLE Apartment 99 years July 5, 2018 700 1,357,600 1,940 Uncompleted New Sale THE SHELFORD Condominium Freehold July 6, 2018 1,033 1,938,000 1,875 2005 Resale MARGARET VILLE Apartment 99 years July 5, 2018 700 1,417,200 2,026 Uncompleted New Sale THE TREVOSE Condominium 99 years July 6, 2018 1,765 2,400,000 1,360 2001 Resale MARGARET VILLE Apartment 99 years July 5, 2018 527 980,400 1,859 Uncompleted New Sale District 12 MARGARET VILLE Apartment 99 years July 5, 2018 527 1,038,600 1,969 Uncompleted New Sale CALARASI Apartment Freehold July 5, 2018 1,227 1,238,000 1,009 2004 Resale MARGARET VILLE Apartment 99 years July 5, 2018 527 1,136,400 2,155 Uncompleted New Sale EIGHT RIVERSUITES Condominium 99 years July 4, 2018 980 1,500,000 1,531 2016 Resale QUEENS PEAK Condominium 99 years July 5, 2018 624 966,000 1,547 Uncompleted New Sale EIGHT RIVERSUITES Condominium 99 years July 5, 2018 807 1,200,000 1,486 2016 Resale QUEENS PEAK Condominium 99 years July 5, 2018 947 1,502,000 1,586 Uncompleted New Sale ONE DUSUN RESIDENCES Apartment Freehold July 4, 2018 484 845,000 1,744 2016 Resale QUEENS PEAK Condominium 99 years July 5, 2018 861 1,689,000 1,961 Uncompleted New Sale THE ARTE Condominium Freehold July 3, 2018 1,873 2,353,008 1,256 2010 Resale QUEENS PEAK Condominium 99 years July 5, 2018 840 1,619,000 1,928 Uncompleted New Sale THE BELLEFORTE Apartment Freehold July 9, 2018 1,335 1,680,000 1,259 2003 Resale QUEENS PEAK Condominium 99 years July 7, 2018 850 1,681,000 1,977 Uncompleted New Sale THE CALLISTA Apartment 999 years July 5, 2018 1,302 1,320,000 1,013 2005 Resale STIRLING RESIDENCES # Apartment 99 years July 5, 2018 678 1,327,000 1,957 Uncompleted New Sale TRELLIS TOWERS Condominium Freehold July 5, 2018 1,647 2,180,000 1,324 2000 Resale STIRLING RESIDENCES Apartment 99 years July 5, 2018 678 1,299,000 1,916 Uncompleted New Sale District 13 STIRLING RESIDENCES Apartment 99 years July 5, 2018 678 1,268,000 1,870 Uncompleted New Sale D’ ALMIRA Apartment Freehold July 5, 2018 2,056 1,900,000 924 2011 Resale STIRLING RESIDENCES Apartment 99 years July 5, 2018 678 1,238,000 1,826 Uncompleted New Sale LEICESTER SUITES Apartment Freehold July 5, 2018 484 750,000 1,548 2013 Resale STIRLING RESIDENCES Apartment 99 years July 5, 2018 678 1,233,000 1,818 Uncompleted New Sale LYNWOOD GROVE Detached Freehold July 9, 2018 4,736 6,500,000 1,374 2008 Resale STIRLING RESIDENCES Apartment 99 years July 5, 2018 678 1,251,000 1,845 Uncompleted New Sale NIN RESIDENCE Apartment 99 years July 10, 2018 474 770,000 1,626 2014 Resale STIRLING RESIDENCES Apartment 99 years July 5, 2018 678 1,343,000 1,980 Uncompleted New Sale PARK COLONIAL # Condominium 99 years July 5, 2018 603 1,075,000 1,783 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years July 5, 2018 678 1,316,000 1,941 Uncompleted New Sale PARK COLONIAL Condominium 99 years July 5, 2018 603 1,059,000 1,757 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years July 5, 2018 678 1,255,000 1,851 Uncompleted New Sale PARK COLONIAL Condominium 99 years July 5, 2018 603 1,067,000 1,770 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years July 5, 2018 678 1,291,000 1,904 Uncompleted New Sale PARK COLONIAL Condominium 99 years July 5, 2018 980 1,599,000 1,632 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years July 5, 2018 678 1,332,000 1,964 Uncompleted New Sale PARK COLONIAL Condominium 99 years July 5, 2018 980 1,827,000 1,865 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years July 5, 2018 678 1,310,000 1,932 Uncompleted New Sale PARK COLONIAL Condominium 99 years July 5, 2018 980 1,807,000 1,845 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years July 5, 2018 678 1,338,000 1,973 Uncompleted New Sale PARK COLONIAL Condominium 99 years July 5, 2018 980 1,837,000 1,875 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years July 5, 2018 678 1,257,000 1,854 Uncompleted New Sale PARK COLONIAL Condominium 99 years July 5, 2018 980 1,847,000 1,886 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years July 5, 2018 678 1,235,000 1,821 Uncompleted New Sale PARK COLONIAL Condominium 99 years July 5, 2018 980 1,812,000 1,850 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years July 5, 2018 678 1,283,000 1,892 Uncompleted New Sale PARK COLONIAL Condominium 99 years July 5, 2018 678 1,337,000 1,972 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years July 5, 2018 678 1,240,000 1,829 Uncompleted New Sale PARK COLONIAL Condominium 99 years July 5, 2018 678 1,357,000 2,001 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years July 5, 2018 678 1,244,000 1,834 Uncompleted New Sale PARK COLONIAL Condominium 99 years July 5, 2018 678 1,349,000 1,989 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years July 5, 2018 441 831,000 1,883 Uncompleted New Sale PARK COLONIAL Condominium 99 years July 5, 2018 678 1,257,000 1,854 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years July 5, 2018 441 813,000 1,842 Uncompleted New Sale PARK COLONIAL Condominium 99 years July 5, 2018 678 1,275,000 1,880 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years July 5, 2018 441 775,000 1,756 Uncompleted New Sale PARK COLONIAL Condominium 99 years July 5, 2018 678 1,248,000 1,840 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years July 5, 2018 441 783,000 1,774 Uncompleted New Sale PARK COLONIAL Condominium 99 years July 5, 2018 678 1,266,000 1,867 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years July 5, 2018 441 792,000 1,795 Uncompleted New Sale PARK COLONIAL Condominium 99 years July 5, 2018 678 1,275,000 1,880 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years July 5, 2018 441 809,000 1,833 Uncompleted New Sale PARK COLONIAL Condominium 99 years July 5, 2018 678 1,269,000 1,871 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years July 5, 2018 441 821,000 1,860 Uncompleted New Sale PARK COLONIAL Condominium 99 years July 5, 2018 678 1,260,000 1,858 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years July 5, 2018 441 849,000 1,924 Uncompleted New Sale PARK COLONIAL Condominium 99 years July 5, 2018 678 1,263,000 1,862 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years July 5, 2018 441 825,000 1,869 Uncompleted New Sale PARK COLONIAL Condominium 99 years July 5, 2018 678 1,251,000 1,845 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years July 5, 2018 441 791,000 1,792 Uncompleted New Sale PARK COLONIAL Condominium 99 years July 5, 2018 980 1,651,000 1,686 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years July 5, 2018 441 829,000 1,878 Uncompleted New Sale PARK COLONIAL Condominium 99 years July 5, 2018 980 1,671,000 1,706 Uncompleted New Sale STIRLING RESIDENCES Apartment 99 years July 5, 2018 441 871,000 1,974 Uncompleted New Sale PARK COLONIAL Condominium 99 years July 5, 2018 980 1,661,000 1,696 Uncompleted New Sale THE ANCHORAGE Condominium Freehold July 3, 2018 1,163 1,580,000 1,359 1997 Resale PARK COLONIAL Condominium 99 years July 5, 2018 603 1,075,000 1,783 Uncompleted New Sale THE CREST Condominium 99 years July 3, 2018 818 1,712,000 2,093 2017 Resale PARK COLONIAL Condominium 99 years July 5, 2018 603 1,051,000 1,744 Uncompleted New Sale THE CREST Condominium 99 years July 9, 2018 1,701 3,729,000 2,193 2017 Resale PARK COLONIAL Condominium 99 years July 5, 2018 603 1,051,000 1,744 Uncompleted New Sale THE CREST Condominium 99 years July 10, 2018 947 2,128,000 2,247 2017 Resale PARK COLONIAL Condominium 99 years July 5, 2018 603 1,067,000 1,770 Uncompleted New Sale District 5 PARK COLONIAL Condominium 99 years July 5, 2018 603 1,047,000 1,737 Uncompleted New Sale CARABELLE Condominium 956 years July 5, 2018 2,142 2,600,000 1,214 2009 Resale PARK COLONIAL Condominium 99 years July 5, 2018 463 848,000 1,832 Uncompleted New Sale CARABELLE Condominium 956 years July 10, 2018 1,292 1,685,000 1,305 2009 Resale THE ACACIAS Apartment Freehold July 6, 2018 1,270 1,400,000 1,102 2009 Resale HARBOUR VIEW GARDENS Apartment Freehold July 5, 2018 657 1,164,000 1,773 Uncompleted New Sale THE POIZ RESIDENCES Apartment 99 years July 5, 2018 1,206 1,670,000 1,385 Uncompleted New Sale HARBOUR VIEW GARDENS Apartment Freehold July 5, 2018 689 1,192,000 1,730 Uncompleted New Sale THE POIZ RESIDENCES Apartment 99 years July 5, 2018 3,767 3,637,000 965 Uncompleted New Sale HARBOUR VIEW GARDENS Apartment Freehold July 5, 2018 818 1,401,000 1,713 Uncompleted New Sale THE POIZ RESIDENCES Apartment 99 years July 5, 2018 1,507 1,947,000 1,292 Uncompleted New Sale HARBOUR VIEW GARDENS Apartment Freehold July 5, 2018 904 1,537,000 1,700 Uncompleted New Sale THE POIZ RESIDENCES Apartment 99 years July 5, 2018 3,800 3,734,000 983 Uncompleted New Sale SUNGROVE Semi-Detached 99 years July 5, 2018 7,093 3,003,000 423 1997 Resale THE POIZ RESIDENCES Apartment 99 years July 5, 2018 581 849,000 1,461 Uncompleted New Sale THE PARC CONDOMINIUM Condominium Freehold July 3, 2018 1,518 2,180,000 1,436 2010 Resale THE POIZ RESIDENCES Apartment 99 years July 5, 2018 441 627,000 1,421 Uncompleted New Sale THE VISION Condominium 99 years July 6, 2018 904 1,180,000 1,305 2014 Resale THE POIZ RESIDENCES Apartment 99 years July 5, 2018 753 1,097,000 1,456 Uncompleted New Sale TWIN VEW Apartment 99 years July 5, 2018 2,088 3,278,000 1,570 Uncompleted New Sale THE POIZ RESIDENCES Apartment 99 years July 5, 2018 592 692,000 1,169 Uncompleted New Sale TWIN VEW Apartment 99 years July 5, 2018 1,378 2,001,000 1,452 Uncompleted New Sale THE POIZ RESIDENCES Apartment 99 years July 5, 2018 1,109 1,554,000 1,402 Uncompleted New Sale TWIN VEW Apartment 99 years July 5, 2018 1,141 1,596,000 1,399 Uncompleted New Sale THE POIZ RESIDENCES Apartment 99 years July 5, 2018 1,216 1,316,000 1,082 Uncompleted New Sale TWIN VEW Apartment 99 years July 5, 2018 1,249 1,850,000 1,482 Uncompleted New Sale THE POIZ RESIDENCES Apartment 99 years July 5, 2018 1,464 1,972,000 1,347 Uncompleted New Sale TWIN VEW Apartment 99 years July 5, 2018 710 1,080,000 1,520 Uncompleted New Sale THE POIZ RESIDENCES Apartment 99 years July 5, 2018 3,800 3,734,000 983 Uncompleted New Sale District 7 THE POIZ RESIDENCES Apartment 99 years July 5, 2018 1,184 1,626,000 1,373 Uncompleted New Sale CONCOURSE SKYLINE Apartment 99 years July 10, 2018 1,087 1,750,000 1,610 2014 Resale District 14 SUNSHINE PLAZA Apartment 99 years July 6, 2018 764 1,040,000 1,361 2001 Resale 33 RESIDENCES Apartment Freehold July 5, 2018 678 1,071,240 1,580 Uncompleted New Sale District 8 33 RESIDENCES Apartment Freehold July 7, 2018 678 1,081,240 1,594 Uncompleted New Sale CITY SQUARE RESIDENCES Condominium Freehold July 6, 2018 872 1,420,000 1,629 2008 Resale AVANT RESIDENCES Apartment 99 years July 4, 2018 398 649,800 1,632 2012 Resale OWEN ROAD Apartment Freehold July 5, 2018 1,776 1,500,000 845 1985 Resale CENTRA RESIDENCE Apartment Freehold July 5, 2018 452 600,000 1,327 2014 Resale RESIDENCES @ SOMME Apartment Freehold July 6, 2018 678 833,940 1,230 2008 Resale EDENZ LOFT Apartment Freehold July 9, 2018 431 570,000 1,324 2015 Resale RITZ @ FARRER Apartment Freehold July 6, 2018 592 960,000 1,622 2017 Resale EUHABITAT Condominium 99 years July 5, 2018 549 725,000 1,321 2015 Resale District 9 LORONG 36 GEYLANG Terrace Freehold July 5, 2018 1,658 2,180,000 1,317 Unknown Resale CAIRNHILL PLAZA Apartment Freehold July 10, 2018 3,305 5,750,000 1,740 1978 Resale PARK PLACE RESIDENCES AT PLQ Apartment 99 years July 5, 2018 1,163 2,007,000 1,726 Uncompleted New Sale ESPADA Apartment Freehold July 6, 2018 452 1,030,000 2,278 2013 Resale PARK PLACE RESIDENCES AT PLQ Apartment 99 years July 5, 2018 667 1,395,000 2,090 Uncompleted New Sale MARTIN MODERN Condominium 99 years July 3, 2018 1,798 5,540,920 3,082 Uncompleted New Sale PRIME RESIDENCE Apartment Freehold July 5, 2018 581 610,000 1,049 2014 Resale MARTIN MODERN Condominium 99 years July 5, 2018 1,399 4,023,250 2,875 Uncompleted New Sale SIMS URBAN OASIS Condominium 99 years July 8, 2018 1,033 1,531,400 1,482 2017 New Sale MARTIN MODERN Condominium 99 years July 5, 2018 1,399 4,035,600 2,884 Uncompleted New Sale SIXTEEN35 RESIDENCES Apartment 99 years July 5, 2018 667 914,850 1,371 Uncompleted New Sale MARTIN MODERN Condominium 99 years July 5, 2018 764 2,025,330 2,650 Uncompleted New Sale SIXTEEN35 RESIDENCES Apartment 99 years July 5, 2018 743 1,092,000 1,470 Uncompleted New Sale MARTIN MODERN Condominium 99 years July 5, 2018 764 2,142,986 2,804 Uncompleted New Sale SIXTEEN35 RESIDENCES Apartment 99 years July 7, 2018 667 921,500 1,381 Uncompleted New Sale MARTIN MODERN Condominium 99 years July 5, 2018 1,421 3,807,600 2,680 Uncompleted New Sale THE LENOX Apartment Freehold July 3, 2018 700 915,000 1,308 2014 Resale MARTIN MODERN Condominium 99 years July 5, 2018 850 2,394,000 2,815 Uncompleted New Sale THE NAVIAN Apartment Freehold July 5, 2018 904 1,491,000 1,649 Uncompleted New Sale MARTIN MODERN Condominium 99 years July 5, 2018 850 2,466,000 2,900 Uncompleted New Sale VACANZA @ EAST Condominium Freehold July 5, 2018 1,324 1,680,000 1,269 2014 Resale MARTIN PLACE RESIDENCES Condominium Freehold July 9, 2018 592 1,458,000 2,463 2011 Resale CONTINUES NEXT PAGE EP16 • EDGEPROP | JULY 23, 2018 DONE DEALS
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Residential transactions with contracts dated July 3 to 10
LAND AREA/ UNIT LAND AREA/ UNIT FLOOR AREA TRANSACTED PRICE COMPLETION TYPE OF FLOOR AREA TRANSACTED 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 District 15 RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 614 848,000 1,382 Uncompleted New Sale AMBER 45 Apartment Freehold July 5, 2018 1,130 2,476,000 2,191 Uncompleted New Sale RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 614 828,000 1,350 Uncompleted New Sale CAYMAN RESIDENCES Terrace Freehold July 4, 2018 1,679 4,675,000 2,784 Uncompleted New Sale RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 614 800,000 1,304 Uncompleted New Sale D’SAVILLE Apartment Freehold July 3, 2018 1,184 1,420,000 1,199 2003 Resale RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 614 808,000 1,317 Uncompleted New Sale STILL LANE Terrace Freehold July 3, 2018 2,293 4,500,000 1,961 1970 Resale RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 614 824,000 1,343 Uncompleted New Sale CRESCENT ROAD Detached Freehold July 6, 2018 11,141 13,459,536 1,208 1985 Resale RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 614 812,000 1,323 Uncompleted New Sale JALAN BULOH PERINDU Terrace Freehold July 6, 2018 1,798 2,950,000 1,646 Unknown Resale RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 517 659,000 1,275 Uncompleted New Sale NATURALIS Apartment Freehold July 3, 2018 614 775,000 1,263 2011 Resale RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 517 662,000 1,281 Uncompleted New Sale PALMERA RESIDENCE Apartment Freehold July 5, 2018 560 725,000 1,295 2010 Resale RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 463 594,000 1,283 Uncompleted New Sale PEBBLE BAY Condominium 99 years July 6, 2018 1,733 1,900,000 1,096 1997 Resale RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 463 588,000 1,270 Uncompleted New Sale QUESTA @ DUNMAN Apartment Freehold July 10, 2018 807 1,200,000 1,486 2013 Resale SERANGOON GARDEN ESTATE Semi-Detached 999 years July 5, 2018 4,166 5,000,000 1,201 Unknown Resale SANCTUARY GREEN Condominium 99 years July 9, 2018 1,399 1,680,000 1,201 2004 Resale SERANGOON GARDEN ESTATE Terrace 999 years July 5, 2018 3,703 3,500,000 946 Unknown Resale SIGNATURE RESIDENCE Apartment Freehold July 6, 2018 3,681 2,830,000 769 2008 Resale SUITES @ PAYA LEBAR Apartment Freehold July 3, 2018 366 530,000 1,448 2013 Resale SPRING @ KATONG Apartment Freehold July 6, 2018 1,249 1,650,000 1,321 2006 Resale SUITES @ PAYA LEBAR Apartment Freehold July 6, 2018 377 540,000 1,433 2013 Resale SPRINGVALE Apartment Freehold July 3, 2018 969 1,140,000 1,177 1995 Resale TERRASSE Condominium 99 years July 5, 2018 807 925,000 1,146 2014 Resale THE MINT RESIDENCES Apartment Freehold July 3, 2018 872 977,000 1,121 2009 Resale THE GARDEN RESIDENCES Apartment 99 years July 3, 2018 517 870,100 1,684 Uncompleted New Sale THE WATERSIDE Condominium Freehold July 4, 2018 2,400 4,400,000 1,833 1992 Resale THE GARDEN RESIDENCES Apartment 99 years July 5, 2018 549 833,100 1,518 Uncompleted New Sale WATER PLACE Condominium 99 years July 9, 2018 904 1,280,000 1,416 2004 Resale THE GARDEN RESIDENCES Apartment 99 years July 5, 2018 732 1,160,000 1,585 Uncompleted New Sale District 16 THE GARDEN RESIDENCES Apartment 99 years July 6, 2018 452 730,200 1,615 Uncompleted New Sale EASTWOOD PARK Semi-Detached 99 years July 6, 2018 3,369 2,250,000 668 1997 Resale THE QUARTZ Condominium 99 years July 9, 2018 1,066 1,040,000 976 2009 Resale OPTIMA @ TANAH MERAH Condominium 99 years July 5, 2018 850 1,080,000 1,270 2012 Resale THE SCALA Apartment 99 years July 6, 2018 850 1,300,000 1,529 2013 Resale OPTIMA @ TANAH MERAH Condominium 99 years July 10, 2018 506 660,800 1,306 2012 Resale THE SCALA Apartment 99 years July 6, 2018 1,044 1,510,000 1,446 2013 Resale OPTIMA @ TANAH MERAH Condominium 99 years July 10, 2018 484 740,000 1,528 2012 Resale THE SPRINGBLOOM Condominium 99 years July 9, 2018 1,302 1,500,000 1,152 1999 Resale SEA PAVILION RESIDENCES Apartment Freehold July 5, 2018 904 1,520,950 1,682 Uncompleted New Sale WATERTOWN Apartment 99 years July 5, 2018 581 760,000 1,308 2017 Sub Sale SEA PAVILION RESIDENCES Apartment Freehold July 6, 2018 904 1,531,400 1,694 Uncompleted New Sale WATERTOWN Apartment 99 years July 9, 2018 958 1,295,000 1,352 2017 Sub Sale SEA PAVILION RESIDENCES Apartment Freehold July 7, 2018 667 1,170,000 1,753 Uncompleted New Sale District 20 WATERFRONT GOLD Condominium 99 years July 5, 2018 1,378 1,680,000 1,219 2014 Resale ADANA @ THOMSON Apartment Freehold July 4, 2018 560 888,888 1,588 2018 New Sale WATERFRONT ISLE Condominium 99 years July 3, 2018 915 1,110,000 1,213 2015 Resale BISHAN 8 Condominium 99 years July 5, 2018 1,528 1,720,000 1,125 2000 Resale WATERFRONT ISLE Condominium 99 years July 9, 2018 915 1,118,000 1,222 2015 Resale HAPPY ESTATE Semi-Detached Freehold July 3, 2018 3,455 3,800,000 1,100 1984 Resale District 17 ISLAND PARK Semi-Detached Freehold July 9, 2018 4,618 4,698,000 1,018 1974 Resale EDELWEISS PARK CONDOMINIUM Condominium Freehold July 9, 2018 1,055 888,000 842 2006 Resale SEMBAWANG HILLS ESTATE Semi-Detached Freehold July 3, 2018 4,069 4,030,000 991 Unknown Resale ESTELLA GARDENS Condominium Freehold July 9, 2018 1,292 1,080,000 836 1999 Resale THE GARDENS AT BISHAN Condominium 99 years July 4, 2018 1,206 1,360,000 1,128 2004 Resale HEDGES PARK CONDOMINIUM Condominium 99 years July 9, 2018 764 738,000 966 2015 Resale THOMSON IMPRESSIONS Semi-Detached 99 years July 4, 2018 2,034 2,500,000 1,229 Uncompleted New Sale JALAN BATALONG EAST Semi-Detached Freehold July 4, 2018 3,305 2,950,000 893 1991 Resale THOMSON THREE Apartment 99 years July 4, 2018 710 1,150,000 1,619 2016 Resale PALM ISLES Condominium 99 years July 5, 2018 560 568,000 1,015 2015 Resale District 21 District 18 CLEMENTI PARK Condominium Freehold July 5, 2018 2,368 2,625,000 1,108 1986 Resale COCO PALMS Condominium 99 years July 10, 2018 904 1,225,000 1,355 2018 Sub Sale FLORIDIAN Condominium Freehold July 6, 2018 1,281 2,410,000 1,881 2012 Resale D’NEST Condominium 99 years July 5, 2018 753 850,000 1,128 2017 Resale MAPLE WOODS Condominium Freehold July 6, 2018 1,335 2,150,000 1,611 1997 Resale NV RESIDENCES Condominium 99 years July 10, 2018 1,453 1,300,000 895 2013 Resale MONT TIMAH Terrace 99 years July 5, 2018 4,413 3,750,000 850 2011 Resale SAVANNAH CONDOPARK Condominium 99 years July 4, 2018 2,045 1,520,000 743 2005 Resale HUA GUAN AVENUE Detached 999 years July 5, 2018 7,998 9,880,000 1,236 Unknown Resale SAVANNAH CONDOPARK Condominium 99 years July 9, 2018 2,293 1,690,000 737 2005 Resale THE CASCADIA Condominium Freehold July 4, 2018 990 1,660,000 1,676 2010 Resale SAVANNAH CONDOPARK Condominium 99 years July 10, 2018 1,023 870,000 851 2005 Resale THE CASCADIA Condominium Freehold July 5, 2018 1,184 2,050,000 1,731 2010 Resale THE ALPS RESIDENCES Condominium 99 years July 5, 2018 1,066 1,259,000 1,181 Uncompleted New Sale THE HILLFORD Apartment 60 years July 6, 2018 657 750,000 1,142 2016 Resale THE ALPS RESIDENCES Condominium 99 years July 5, 2018 936 1,167,000 1,246 Uncompleted New Sale District 22 THE ALPS RESIDENCES Condominium 99 years July 5, 2018 936 1,077,000 1,150 Uncompleted New Sale CASPIAN Condominium 99 years July 3, 2018 1,141 1,180,000 1,034 2012 Resale THE ALPS RESIDENCES Condominium 99 years July 5, 2018 936 948,000 1,012 Uncompleted New Sale CASPIAN Condominium 99 years July 6, 2018 1,195 1,310,000 1,096 2012 Resale THE ALPS RESIDENCES Condominium 99 years July 6, 2018 936 1,140,000 1,217 Uncompleted New Sale District 23 THE ESPARIS EC 99 years July 9, 2018 1,324 1,030,000 778 2005 Resale CHANTILLY RISE Condominium Freehold July 3, 2018 1,442 1,528,000 1,059 1998 Resale THE TAPESTRY Condominium 99 years July 4, 2018 603 871,560 1,446 Uncompleted New Sale GUILIN VIEW Condominium 99 years July 3, 2018 1,701 1,240,000 729 2000 Resale THE TAPESTRY Condominium 99 years July 5, 2018 474 670,760 1,416 Uncompleted New Sale GUILIN VIEW Condominium 99 years July 3, 2018 1,259 1,010,000 802 2000 Resale THE TAPESTRY Condominium 99 years July 5, 2018 603 867,510 1,439 Uncompleted New Sale HILLTOP GROVE Condominium 99 years July 10, 2018 1,485 1,200,000 808 2001 Resale THE TAPESTRY Condominium 99 years July 5, 2018 1,485 1,752,000 1,179 Uncompleted New Sale HILLVIEW HEIGHTS Condominium Freehold July 4, 2018 990 1,200,000 1,212 1996 Resale THE TAPESTRY Condominium 99 years July 5, 2018 1,345 1,512,800 1,124 Uncompleted New Sale HILLVIEW REGENCY Condominium 99 years July 6, 2018 1,109 950,000 857 2006 Resale THE TAPESTRY Condominium 99 years July 5, 2018 474 693,720 1,465 Uncompleted New Sale KINGSFORD . HILLVIEW PEAK Condominium 99 years July 9, 2018 829 1,200,000 1,448 2017 Sub Sale WHITEWATER EC 99 years July 6, 2018 1,195 885,000 741 2005 Resale LE QUEST Apartment 99 years July 5, 2018 936 1,213,000 1,295 Uncompleted New Sale District 19 MERA GARDENS Terrace 99 years July 10, 2018 1,647 1,720,000 1,044 1998 Resale AFFINITY AT SERANGOON Apartment 99 years July 4, 2018 474 746,000 1,575 Uncompleted New Sale MERALODGE Condominium Freehold July 3, 2018 1,130 1,200,000 1,062 1997 Resale AFFINITY AT SERANGOON Apartment 99 years July 5, 2018 624 944,300 1,513 Uncompleted New Sale MI CASA Condominium 99 years July 4, 2018 1,098 985,000 897 2012 Resale AFFINITY AT SERANGOON Apartment 99 years July 5, 2018 624 907,300 1,453 Uncompleted New Sale PALM GARDENS Condominium 99 years July 5, 2018 1,206 835,000 693 2000 Resale AFFINITY AT SERANGOON Apartment 99 years July 5, 2018 753 1,147,600 1,523 Uncompleted New Sale PALM GARDENS Condominium 99 years July 6, 2018 1,206 860,000 713 2000 Resale AFFINITY AT SERANGOON Apartment 99 years July 5, 2018 474 697,300 1,472 Uncompleted New Sale PARK NATURA Condominium Freehold July 9, 2018 1,378 1,620,000 1,176 2011 Resale AFFINITY AT SERANGOON Apartment 99 years July 5, 2018 474 691,600 1,460 Uncompleted New Sale SOL ACRES EC 99 years July 4, 2018 732 643,000 878 2018 New Sale AFFINITY AT SERANGOON Apartment 99 years July 5, 2018 1,152 1,733,300 1,505 Uncompleted New Sale SOL ACRES EC 99 years July 4, 2018 1,098 989,000 901 2018 New Sale AFFINITY AT SERANGOON Apartment 99 years July 5, 2018 624 984,200 1,576 Uncompleted New Sale THE HILLIER Apartment 99 years July 4, 2018 517 788,000 1,525 2016 Resale AFFINITY AT SERANGOON Apartment 99 years July 5, 2018 904 1,416,000 1,566 Uncompleted New Sale THE HILLIER Apartment 99 years July 6, 2018 818 1,110,000 1,357 2016 Resale AFFINITY AT SERANGOON Apartment 99 years July 5, 2018 1,076 1,665,400 1,547 Uncompleted New Sale THE TENNERY Apartment 99 years July 5, 2018 614 718,000 1,170 2014 Resale AFFINITY AT SERANGOON Apartment 99 years July 5, 2018 1,076 1,613,600 1,499 Uncompleted New Sale WINDERMERE EC 99 years July 9, 2018 1,453 930,000 640 1999 Resale AFFINITY AT SERANGOON Apartment 99 years July 5, 2018 474 748,000 1,579 Uncompleted New Sale District 25 AFFINITY AT SERANGOON Apartment 99 years July 5, 2018 474 741,000 1,565 Uncompleted New Sale LA CASA EC 99 years July 3, 2018 1,292 900,000 697 2008 Resale AFFINITY AT SERANGOON Apartment 99 years July 7, 2018 624 915,000 1,466 Uncompleted New Sale NORTHWAVE EC 99 years July 5, 2018 1,109 956,000 862 Uncompleted New Sale AFFINITY AT SERANGOON Apartment 99 years July 7, 2018 624 975,000 1,562 Uncompleted New Sale NORTHWAVE EC 99 years July 6, 2018 1,109 951,000 858 Uncompleted New Sale AFFINITY AT SERANGOON Apartment 99 years July 8, 2018 1,453 2,223,000 1,530 Uncompleted New Sale NORTHWAVE EC 99 years July 8, 2018 990 787,000 795 Uncompleted New Sale AFFINITY AT SERANGOON Apartment 99 years July 8, 2018 904 1,388,000 1,535 Uncompleted New Sale ROSEWOOD SUITES Condominium 99 years July 3, 2018 1,249 848,000 679 2011 Resale AFFINITY AT SERANGOON Apartment 99 years July 8, 2018 1,076 1,565,000 1,454 Uncompleted New Sale District 26 KOVANA Apartment Freehold July 10, 2018 1,184 1,320,000 1,115 2007 Resale THE SPRINGSIDE Terrace Freehold July 10, 2018 1,711 3,377,000 1,972 2016 Resale SURIN LANE Detached Freehold July 6, 2018 4,252 6,000,000 1,413 Unknown Resale District 27 RICHARDS AVENUE Semi-Detached Freehold July 9, 2018 2,282 3,180,000 1,392 1994 Resale EIGHT COURTYARDS Condominium 99 years July 9, 2018 1,345 1,113,800 828 2014 Resale PALM GROVE AVENUE Terrace 999 years July 10, 2018 3,229 3,050,000 944 1984 Resale KANDIS RESIDENCE Condominium 99 years July 5, 2018 732 925,000 1,264 Uncompleted New Sale PARC CENTROS Condominium 99 years July 9, 2018 1,141 1,300,000 1,139 2016 Resale NORTHWOOD Condominium Freehold July 3, 2018 1,625 1,468,000 903 2009 Resale PARRY PARK Terrace 999 years July 4, 2018 1,776 2,560,000 1,445 1991 Resale SELETARIS Condominium Freehold July 4, 2018 1,389 1,055,000 760 2001 Resale RIVER ISLES Condominium 99 years July 6, 2018 1,173 1,180,000 1,006 2015 Resale SKIES MILTONIA Condominium 99 years July 9, 2018 969 980,000 1,012 2016 Resale RIVERCOVE RESIDENCES EC 99 years July 3, 2018 1,109 1,057,500 954 Uncompleted New Sale THE NAUTICAL Condominium 99 years July 4, 2018 441 545,000 1,235 2015 Resale RIVERFRONT RESIDENCES # Apartment 99 years July 5, 2018 614 802,000 1,307 Uncompleted New Sale THE SHAUGHNESSY Terrace 99 years July 5, 2018 3,283 1,550,000 472 2006 Resale RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 614 794,000 1,294 Uncompleted New Sale District 28 RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 614 814,000 1,327 Uncompleted New Sale MIMOSA TERRACE Terrace Freehold July 4, 2018 1,615 2,615,000 1,620 2004 Resale RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 614 782,000 1,275 Uncompleted New Sale PARC BOTANNIA Condominium 99 years July 3, 2018 1,453 1,900,000 1,308 Uncompleted New Sale RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 614 806,000 1,314 Uncompleted New Sale PARC BOTANNIA Condominium 99 years July 3, 2018 506 700,000 1,384 Uncompleted New Sale RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 614 786,000 1,281 Uncompleted New Sale PARC BOTANNIA Condominium 99 years July 4, 2018 581 855,000 1,471 Uncompleted New Sale RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 614 814,000 1,327 Uncompleted New Sale PARC BOTANNIA Condominium 99 years July 5, 2018 667 968,000 1,450 Uncompleted New Sale RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 915 1,153,000 1,260 Uncompleted New Sale PARC BOTANNIA Condominium 99 years July 5, 2018 872 1,220,112 1,399 Uncompleted New Sale RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 1,109 1,380,000 1,245 Uncompleted New Sale PARC BOTANNIA Condominium 99 years July 5, 2018 775 981,000 1,266 Uncompleted New Sale RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 1,109 1,434,000 1,293 Uncompleted New Sale RIVERBANK @ FERNVALE Condominium 99 years July 4, 2018 689 780,000 1,132 2017 Resale RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 1,109 1,446,000 1,304 Uncompleted New Sale SELETAR HILLS ESTATE Terrace Freehold July 6, 2018 2,164 2,218,000 1,027 Unknown Resale RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 1,679 2,066,000 1,230 Uncompleted New Sale SELETAR PARK RESIDENCE Condominium 99 years July 6, 2018 527 640,000 1,213 2015 Resale RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 1,905 2,270,000 1,191 Uncompleted New Sale SUNRISE VILLA Semi-Detached Freehold July 3, 2018 3,229 3,550,000 1,099 1993 Resale RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 1,679 2,150,000 1,280 Uncompleted New Sale VILLA BEGONIA Terrace 99 years July 6, 2018 1,679 1,800,000 1,072 1998 Resale RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 721 902,000 1,251 Uncompleted New Sale RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 614 852,000 1,389 Uncompleted New Sale DISCLAIMER: RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 614 804,000 1,310 Uncompleted New Sale Source: URA Realis. Updated July 17, 2018. The Edge Publishing Pte Ltd shall not be responsible for any loss or RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 614 836,000 1,363 Uncompleted New Sale liability arising directly or indirectly from the use of, or reliance on, the information provided therein. RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 614 840,000 1,369 Uncompleted New Sale # Not all caveats shown due to overwhelming number of caveats lodged RIVERFRONT RESIDENCES Apartment 99 years July 5, 2018 614 816,000 1,330 Uncompleted New Sale EC stands for executive condominium EDGEPROP | JULY 23, 2018 • EP17 EP18 • EDGEPROP | JULY 23, 2018 UNDER THE HAMMER Duplex at Rosewood Suites going for $1.26 mil
SAMUEL ISAAC CHUA/THE EDGE SINGAPORE | BY BONG XIN YING | The 1,981 sq ft unit is the 1,981 sq ft duplex unit first mortgagee sale at at the low-rise Rosewood the condo in two years Suites will be put up for auction by Edmund Tie & Co (ET&Co) on July 25, at Aa guide price of $1.26 million ($636 psf). The five-storey condominium by EL Development is located on Rose- wood Drive, in District 25. This is the first mortgagee sale at the condo in two years, according to Rachel Lee, senior marketing execu- tive at ET&Co. The unit will be sold with vacant possession on an “as is where is” basis. The owner bought the unit for $1.136 million ($574 psf) eight years ago, when it was newly launched for sale. TABLES: URA, EDGEPROP The unit to be auctioned off is on recent transaction was that of a 1,518 the top floor, has a functional layout sq ft, four-bedroom unit on the third Recent transactions at Rosewood Suites Recent rental contracts and is in good condition, says Lee. floor, which changed hands for $1.24 Originally a three-bedder, the unit million ($816 psf) in June. In May, a CONTRACT DATE AREA (SQ FT) PRICE ($) PRICE ($ PSF) for 1,900 to 2,000 sq ft was partitioned into a four-bedder by 1,938 sq ft penthouse fetched $1.23 June 1, 2018 1,518 1,238,000 816 units at Rosewood Suites its previous owner. The living room million ($635 psf). May 3, 2018 1,938 1,230,000 635 boasts a double-volume ceiling height, In 2016 and 2017, a total of 12 March 21, 2018 1,066 870,000 816 LEASE DATE MONTHLY RENT ($) and the master bedroom on the sec- units at the condo were transacted March 7, 2018 1,259 1,000,000 794 August 2017 3,400 ond level has a high ceiling as well. at an average price of $811 psf. “At June 27, 2017 689 628,000 911 October 2014 4,300 There have been four resale trans- $636 psf, [the unit to be auctioned actions at Rosewood Suites this year, off offers] quite a good price,” notes and they all involved bigger units, ET&Co’s Lee. year lease. Causeway Point and ute drive from there. “The devel- American School and Republic Pol- ranging from 1,066 to 1,938 sq ft, as Completed in 2011, Rosewood Woodlands MRT Station on the opment is at a fair location, with ytechnic just a short five-minute seen from caveats lodged. The most Suites has 89 years left on its 99- North-East Line are a three-min- Singapore Sports School, Singapore drive away,” says Lee. E