Return of big-ticket deals in prime districts
March 12, 2017
The biggest transaction of a private condominium unit in the last week of February was the sale of a 7,868 sq ft, five-bedroom penthouse at Corals at Keppel Bay for $18.88 million ($2,400 psf), according to a caveat lodged on Feb 22. The penthouse is the largest of eight in the 366-unit luxury condo by Keppel Land.
At the neighbouring 969-unit Caribbean at Keppel Bay, also by Keppel Land, a 4,650 sq ft penthouse changed hands for $3.80 million ($817 psf) on Feb 27. The seller bought the unit for $2.86 million ($615 psf) in January 2006, thus the sale translated into a capital gain of $940,880.
In prime District 10, freehold 381-unit Leedon Residence by GuocoLand has also seen a spike in transactions of bigger units. Notably, a 4,704 sq ft, five-bedroom unit was sold for $10.15 million ($2,158 psf). Meanwhile, two four-bedroom units were also sold recently: A 2,508 sq ft unit fetched $5.17 million ($2,061 psf) and a 3,681 sq ft unit, $6.1 million ($1,657 psf).
A unit at Nassim Mansion changed hands recently for $8.18 million ($2,353 psf).
District 10 is One Chatsworth, a 3,305 sq ft, five-bedroom unit on the second floor of the tower changed hands recently for $6.3 million ($1,906 psf), according to a caveat lodged on Feb 27.
At One Chatsworth, the last transaction was the sale of a 3,305 sq ft, five-bedroom unit on the 16th floor that fetched $6 million ($1,816 psf) in April 2015.
In prime District 9, a large four-bedroom unit at the 31-year-old Yong An Park on River Valley Road was recently sold. The 3,229 sq ft unit on the 18th floor of one of the five blocks changed hands for $5.6 million ($1,734 psf).
Bruce Lye, managing partner at real estate agency SRI, has observed an increase in the number of potential buyers looking for units priced above $5 million. “These buyers are a mix of Singaporeans and new permanent residents who are predominantly Chinese or Malaysian nationals,”
At the 28-storey Newton One, a 1,916 sq ft, four-bedroom unit on the 25th floor fetched $3.05 million ($1,592 psf).
At SkyEleven, a 2,713 sq ft, four-bedroom unit on the 27th floor of one of the 43-storey towers was sold for $4 million ($1,475 psf).