A Good Class Bungalow on Old Holland Road offers a … · EP4&5 Done Deals Prices of new luxury condos in prime districts to hit $3,500 psf EP8 Gains and Losses First deal at St Regis

A Good Class Bungalow on Old Holland Road offers a glimpse ofthe lifestyle of the discreetly rich. The property is now on the market. Who are the potential buyers? See our Cover Story on Pages 6 and 7.

PROPERTY PERSONALISED

Visit EdgeProp.sg to nd properties, research market trends and read the latest news The week of March 26, 2018 | ISSUE 823-44

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

Property PicksAffordable properties with en bloc potential

EP4&5

Done DealsPrices of new luxury

condos in prime districts to hit $3,500 psf EP8

Gains and LossesFirst deal at St Regis Residences this yearsees $2 mil loss EP10

Deal WatchThree-bedroom unit

at Quinterra going for$2 mil EP11

ALBERT CHUA/THE EDGE SINGAPORE

Inside a $29.8 mil GCB

EP2 • EDGEPROP | MARCH 26, 2018

E

Olina Lodge on the market for $220 mil On March 21, the freehold Olina Lodge (above, left)

was launched for collective sale via tender, with SRI

as the sole marketing agent. Olina Lodge has a land

area of 84,289 sq ft and is up for sale at a reserve price

of $220 million, or $1,631 psf per plot ratio (ppr). Ow-

ing to its high development baseline, there is poten-

tially no development charge payable.

According to SRI, the land rate could be slightly be-

low $1,500 psf ppr if the developer chooses to build an

additional 10% gross floor area (GFA) for balconies.

This is Olina Lodge’s third attempt at a collective

sale. Situated at 15 Holland Hill in prime District 10, it is

zoned “residential” under the 2014 Master Plan and has

a 1.6 gross plot ratio (GPR). The redevelopment can be

a 12-storey project with 128 units, assuming an average

size of 1,000 sq ft each. The tender closes on April 19.

Verdun House launched for sale at $60 milSRI is marketing the 7,316 sq ft Verdun House (above,

centre), which is making its maiden attempt at a col-

lective sale. The price tag is $60 million, translating

into $2,100 psf ppr. Located next to Mustafa Cen-

tre, Verdun House is zoned for commercial use. It is

also located 400m from the Farrer Park MRT station.

The existing mixed-use commercial development

has four shops and 12 apartments. Verdun House

boasts dual frontages on Verdun Road and Sam Leong

Road. The new commercial development could have

a GFA of 30,728 sq ft, which translates into around 50

units with an average size of 550 sq ft each.

According to Andy Gan, head of investment sales

at SRI, the required 80% consent was obtained in one

sitting, immediately after their EGM.

The owners are seeking clarification from the au-

thorities on the property’s development baseline. The

tender for Verdun House closes on April 18.

Freehold Joo Chiat commercial buildingfor sale from $18 milA freehold, four-storey-with-attic commercial building

on Joo Chiat Road has been put up for sale by expres-

sion of interest (EOI), with a guide price of $18 mil-

lion to $20 million, or $969 to $1,077 psf. The prop-

erty has a site area of 4,686 sq ft and GFA of 18,571

sq ft. It is tenanted to a single company.

The building comes with a lift and car-park space

for nine vehicles. It has a 3.0 plot ratio under the

2014 Master Plan. Mary Sai, executive director of in-

vestment and capital markets at Knight Frank Singa-

pore, who is handling the sale, says the asking price

is reasonable. She points to a four-storey building at

381 Joo Chiat Road that was sold for $27 million, or

$1,093 psf, earlier this month.

The property on Joo Chiat Road is ideal for opera-

tions that require their own parking space, something

not common in the Joo Chiat area, which is dominated

by shophouses, and where parking is typically an issue,

according to Sai. The EOI exercise closes on April 19.

Freehold Peak Court launchedfor collective sale at $106 milThe freehold Peak Court condominium on Thom-

son Road, near Novena, has been put up for collec-

tive sale by tender at $106 million, according to Ed-

mund Tie & Co (ET&Co), the sole marketing agent

brokering the sale. All of the owners have consent-

ed to the sale.

Peak Court comprises 20 maisonettes and sits on a

57,350 sq ft site. The asking price reflects a land rate

of $1,398 psf ppr, or $1,342 psf, based on the maxi-

mum GFA, including 10% bonus balcony space. The

site is zoned for residential use and has a GPR of 1.4

under the 2014 Master Plan.

Located at a double-storey mixed landed residential

enclave in prime District 11 (above, right), Peak Court

is next to the Thomson Medical Centre and near prom-

inent schools such as Anglo-Chinese School (Prima-

ry) and St Joseph’s Institution Junior. Amenities near-

by include malls such as United Square, Velocity and

Square 2, which are linked to the Novena MRT station.

The site can be redeveloped into a 106-unit boutique

condo or five-storey serviced apartment, subject to ap-

provals, says ET&Co. The tender closes on May 9.

EN BLOC WATCH

EDITORIALEDITOR | Cecilia ChowHEAD OF RESEARCH | Feily Sofi anDEPUTY EDITOR | Lin ZhiqinWRITERS | Angela Teo, Timothy Tay, Bong Xin YingDIGITAL WRITER | Fiona Ho

COPY-EDITING DESK | Elaine Lim, Evelyn Tung, Chew Ru Ju, Shanthi MurugiahPHOTO EDITOR | Samuel Isaac ChuaPHOTOGRAPHER | Albert ChuaEDITORIAL COORDINATOR | Yen TanDESIGN DESK | Tan Siew Ching, Christine Ong, Monica Lim, Tun Mohd Zafi an Mohd Za’abah

ADVERTISING + MARKETING ADVERTISING SALES

DIRECTOR, COMMERCIAL OPERATIONS | Cowie TanASSOCIATE ACCOUNT DIRECTOR | Diana LimSENIOR ACCOUNT MANAGER |Janice ZhuACCOUNT MANAGERS |James Chua, Bernard WongSALES STRATEGIST |Han YaoGuang

CIRCULATIONDIRECTOR | Victor TheEXECUTIVE | Malliga Muthusamy, Ashikin Kader

CORPORATE CHIEF EXECUTIVE OFFICER | Bernard Tong

PUBLISHERThe Edge Property Pte Ltd150 Cecil Street #13-00Singapore 069543Tel: (65) 6232 8688Fax: (65) 6232 8620

PRINTERKHL Printing Co Pte Ltd57 Loyang DriveSingapore 508968Tel: (65) 6543 2222Fax: (65) 6545 3333

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One Raffles Place to undergo asset enhancement from mid-2018The six-storey retail component at One Raffles Place,

which sits above the Raffles Place MRT station,

will undergo asset enhancement works from mid-

2018. The revitalised mall will have a new tenant —

Amsterdam-based co-working space operator Spac-

es, which will occupy more than 35,000 sq ft across

a few levels from early 2019.

One Raffles Place is part of OUE Commercial REIT’s

portfolio. According to the REIT, the upgrades will

drive the psf productivity of the 100,000 sq ft mall,

while the inclusion of a co-working space will enhance

vertical traffic. The mall will remain operational dur-

ing the asset enhancement period, as works will be

carried out in phases to minimise disruption to ten-

ants and shoppers, says the REIT.

One Raffles Place comprises two 62- and 38-storey

Grade-A office towers with total net lettable area (NLA)

of 760,000 sq ft and the six-storey One Raffles Place

shopping centre.

Holland Road GLS site sees four parties submitting multiple bidsThe tender for the Holland Road Government Land Sales

(GLS) site closed on March 20 and attracted 15 bids, ac-

cording to URA. Some developers submitted more than

one bid through joint ventures (JVs) and consortiums.

Although the final price is expected to exceed $1

billion, the site is highly contested, owing to the lack

of sizeable integrated developments near transport

nodes in the pipeline, says Christine Li, director of

research at Cushman & Wakefield.

The significant capital outlay and necessary ex-

perience to develop and manage the non-residential

component contributed to the significant number of

tie-ups, says Ong Teck Hui, national director of re-

search and consultancy at JLL.

Three JV partners teamed up and submitted two bids

each. They were Lendlease and Pontiac Land; Peren-

nial Real Estate Holdings and Qingjian Realty; as well

as GuocoLand and Hong Leong Holdings’ subsidiaries,

Intrepid Investments, Hong Realty and TID Pte Ltd.

Far East Organization and its affiliated company

joined forces with Sekisui House to submit three

proposals.

Joint-venture partners that submitted one bid each

include City Developments, which partnered with RB

Capital; Allgreen Properties (with Kerry Properties);

and UOL (with sister company United Industrial Corp).

Bidding together were CapitaLand and Hotel Prop-

erties Ltd; SingHaiyi Group and its controlling share-

holder Haiyi Holdings; as well as Roxy-Pacific Hold-

ings, Chip Eng Seng Corp and JBE Holdings.

The Holland Road GLS site was launched for sale

via the concept and price revenue tender system. The

various concept proposals will be evaluated first and

only successful proposals will subsequently be eval-

uated, based on the highest bid price.

CapitaLand to manage mall at Oxley’sThe Peak in Phnom PenhOn March 20, Singapore property giant CapitaLand,

through its wholly-owned shopping mall business

CapitaLand Retail, signed an agreement with Singa-

pore-based developer Oxley Holdings to manage a

mall (pictured) in Phnom Penh, Cambodia.

The mall is the retail component of The Peak,

an upcoming high-end, integrated development

majority-owned by Oxley that it jointly developed with

Cambodian real estate company Worldbridge Land.

CapitaLand will oversee asset planning, pre- opening

and retail management for the five-storey mall, which

has a GFA excluding car park of about 420,000 sq ft,

and NLA of about 260,000 sq ft. The mall is expect-

ed to commence operations in 2020.

Located in Chamkarmon District in central Phnom

Penh, The Peak is a freehold 55-storey project com-

prising an office tower, the country’s first Shangri-

La Hotel with 300 guest rooms, and two luxury

residential towers with 1,014 apartment units that

sit atop the mall.

Crown Group invites EOI for Eastlakes Live in SydneyOn March 20, Crown Group unveiled Eastlakes Live,

its new Eastlakes town centre development in Syd-

ney. It will comprise residential apartments and a

new restaurant and retail precinct. “The A$1 billion

Eastlakes Live is designed to be a fully integrated

village with the convenience of being just 8km from

Sydney’s CBD,” says Crown Group’s director of sales

Roy Marcellus.

Eastlakes Live will be developed in two stages.

Stage One will comprise 12 retail outlets and 134

luxury apartments, ranging from one-bedroom units

to penthouses. Construction is slated for comple-

tion in 2020. Stage Two will comprise a mix of resi-

dential and retail components, completing the new

town centre.

Crown Group is currently accepting expressions

of interest from prospective buyers and will begin

sales of the 134 luxury apartments in the first stage

of Eastlakes Live in June. — Compiled by Bong Xin

Ying, Timothy Tay and Angela Teo

PROPERTY BRIEFS

SRI ET&CO

CAPITALAND

SRI

E

BROUGHT TO YOU BY MITSUBISHI ELECTRIC

EDGEPROP | MARCH 26, 2018 • EP3

Property prices to rise 7% in 2018| BY ANGELA TEO |

Although market watchers have raised

concerns that the collective sale mo-

mentum is slowing, Tan Hong Boon,

regional director at JLL and a collec-

tive sale veteran, is confident that

the current collective sale cycle will continue

through 2018. “If you look at historical trends,

there are usually six to eight quarters of ac-

tive land buying in each collective sale cycle,”

he says. Tan was one of the speakers at the

EdgeProp 360 seminar held at Capital Tower

on March 15. “We are about five quarters into

this cycle, which means there are three quar-

ters to go,” he adds (see chart).

The seminar was attended by 250 partici-

pants and ended with a panel discussion with

the three speakers — Alice Tan, head of con-

sultancy and research at Knight Frank Singa-

pore, Feily Sofian, head of research at Edge-

Prop Singapore, and JLL’s Tan. The discussion

was chaired by Boaz Boon, former head of re-

search at CapitaLand, founder and principal of

real estate and design thinking training com-

pany Thred and director at real estate adviso-

ry firm VestAsia.

More sites sold by private treatyAs at March 19, there were 21 collective sale

sites this year whose tenders closed. Of the 21,

nine were sold at the close of tender, while one

— Brookvale Park — was sold by private trea-

ty after the close of tender. More than half of

the sites (52%, or 11 sites) were unsold at the

close of tender. However, they could be under

negotiation for private treaty sale. In compar-

ison, 32 out of 34 sites were sold at the close

of tender in 2017.

Owing to the sheer volume of collective

sale sites entering the market, JLL’s Tan ex-

pects more to be sold by private treaty after

the close of tender. He attributes the shift from

collective sale by tender to private treaty to the

close of tenders for three residential Govern-

ment Land Sales (GLS) sites on Handy Road,

Chong Kuo Road and West Coast Vale on Jan

30. The hotly contested Handy Road site re-

ceived 10 bids, while the Chong Kuo Road and

West Coast Vale land parcels saw eight and six

bids, respectively.

The GLS programme is the preferred meth-

od of land acquisition, because it is a trans-

parent process and developers can obtain the

site fast, according to Tan. “Even if collective

sale tenders are launched at reasonable prices,

developers tend to bid for GLS sites, and only

when they fail to secure them do they consid-

er collective sale sites,” he says.

Developers’ appetite for land remainsDecreasing pipeline supply, however, suggests

that the collective sale market still has legs, reck-

ons Tan. There were 40,430 units in the pipe-

line between 2011 and 2012 — the last peak in

property prices. Meanwhile, there were 20,794

unsold units in the pipeline as at end-4Q2017.

“These units would take two to three years to

come onto the market. Therefore, developers

are starting to see that there isn’t enough stock

to sell,” says Tan. He expects total value of col-

lective sales this year to surpass that in 2017.

As at March 15, 140 projects were at various

stages of the collective sale process, according

to Tan. However, not all of them would be able

to launch a tender, he reckons. “There will still

be many more sites coming on the market. You

will still see more collective sales done and total

quantum increasing,” says Tan. “But you may

also hear of many failures because the asking

price is too high.”

Some sites are taking the selling prices of

sites launched earlier as a benchmark and are

asking for 10% to 20% more than the earli-

er transacted prices, which were already re-

cord prices. “At some point, developers will

not bite,” says Tan, who expects land prices

to become more stable this year.

One site that Tan reckons will be difficult

to secure a buyer is the 1,006-unit Mandarin

Gardens off Marine Parade Road. Mandarin

Gardens, marketed by C&H Properties, report-

edly has an asking price of about $2.5 billion.

Future launches present opportunityKnight Frank’s Alice Tan recommends that

buyers enter the market before the expected

rise in mortgage interest rates materialises in

three to six months. “Mortgage interest rates

are ranging between 1.5% and 2.4% right now,

depending on your package. If you are looking

to buy properties and do re-financing, this is

the time,” she says.

Meanwhile, EdgeProp’s Sofian reckons that

projects near the Handy Road, Woodleigh Lane

and West Coast Vale GLS sites present invest-

ment opportunities for buyers looking at the

high-end, city-fringe and mass-market seg-

ments, respectively.

The Martin Place GLS site, which was

launched last July as the 450-unit Martin Mod-

ern by developer GuocoLand, presents a nota-

ble case study. GuocoLand bought the 99-year

leasehold site at River Valley for $595.1 mil-

lion, or $1,239 psf per plot ratio (ppr) in June

2016. At the time, analysts expected the aver-

age selling price for the future Martin Modern

to be $2,100 to $2,200 psf, as surrounding free-

hold developments, such as the 302-unit Mar-

tin Place Residences (completed in 2011) and

the 545-unit Rivergate (completed in 2009),

were transacting at less than $2,000 psf on

average, notes Sofian.

Martin Modern’s selling price surpassed an-

alyst’s expectations; it was launched at above

$2,200 psf on average. This drove up the trans-

action prices of developments in the vicinity.

At Martin Place Residences, a 23rd-floor unit

was sold in January 2018 for $2,111 psf, 7%

higher than the price of a unit on the 27th lev-

el that fetched $1,971 psf in December 2016.

Sofian expects a similar trend for the Handy

Road, Woodleigh Lane and West Coast Vale sites.

For developments near the Handy Road site,

she recommends the freehold, 50-unit Nomu,

designed by WOHA Architects and complet-

ed in 2009. While Nomu units are transacting

at an average price of $2,035 psf, analysts ex-

pect the selling price for the new project on

the 99-year leasehold Handy Road GLS site to

be between $2,600 and $2,700 psf.

Similarly, the GLS site at Woodleigh Lane

that sits between the 179-unit Avon Park and

the Woodleigh MRT station, was sold for $700.7

million, or $1,110 psf ppr, in July 2017.

The new project will be launched as Parc

Colonial. Analysts estimate the average sell-

ing price to be north of $1,800 psf. However,

units at the nearby Blossoms@Woodleigh, a

240-unit, freehold development, have been

transacting at $1,218 psf, presenting a value

proposition, says Sofian.

In the mass market, Sofian singles out West

Coast Vale, where there has been a spate of

GLS sites sold. Units at the GLS site on West

Coast Vale that City Developments secured at

end-January are expected to be sold at $1,500

psf. Meanwhile, the average asking price for

units at the 520-unit Twin Vew, which is slat-

ed for launch in 1H2018, is expected to be

between $1,200 and $1,300 psf. “There are

also freehold or 999-year leasehold develop-

ments in the area with resale units transact-

ing at $1,000 to $1,200 psf, including the 315-

unit The Infiniti and the 396-unit Hundred

Trees,” says Sofian.

Redevelopments at Shunfu Ville and Eunos-

ville could also be value propositions, accord-

ing to Sofian. The land cost for Shunfu Ville,

off Marymount Road, was $747 psf ppr, while

Eunosville, which is adjacent to the Eunos MRT

station, was sold at $909 psf ppr.

Prices to rise furtherAll three speakers were of the view that prices

are likely rise further, owing to demand from

collective sale beneficiaries, HDB flat owners

seeking to upgrade, and positive market sen-

timent, among other factors.

“Buyers are expecting developers to raise

prices, and developers have said they will, in

the latest NUS-Redas Real Estate Sentiment

Index,” says Knight Frank’s Tan. “There is a

match in buyers’ and sellers’ expectations. I

think that means strong demand this year,”

she adds.

However, she expects property prices to rise

by 5% to 7% instead of the 10% to 20% sug-

gested by equity analysts. “Singaporeans are

savvy, prudent buyers. In a Homebuyer’s Sen-

timent Survey we did with EdgeProp late last

year, respondents said prices would not go up

by more than 5%. The survey has correspond-

ed with actual buying behaviour,” she says.

From left: Boon, who chaired the panel discussion, Sofian, Knight Frank’s Tan and JLL’s Tan

The latest quarterly EdgeProp 360 seminar on the residential and collective sale market drew 250 attendees

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Active land buying in each collective sale cycle tends to last for six to eight quarters

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Value ($ mil) No of deals

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E

PICTURES: ALBERT CHUA/THE EDGE SINGAPORE

JLL, AS AT MARCH 13, 2018

PROPERTY PICKS


| BY LIN ZHIQIN |

The average price across the 21,862 pri-

vate non-landed residential property

transactions in 2017 is $1,404 psf, ac-

cording to URA caveat data as at March

21. This is a 3.6% y-o-y increase from

$1,355 psf. Developers sold 9,733 new resi-

dential units at an average price of $1,510 psf

in 2017, up 5.3% y-o-y. This year as at March

21, developers had sold 995 units at an average

price of $1,649 psf, up 9.2% y-o-y.

The uptrend in transacted prices notwith-

standing, particularly at new projects, afforda-

ble properties priced below $1,000 psf can still

be found in Singapore, but they are likely to

be at older developments. EdgeProp identified

24 developments in the Central Region where

there were at least three transactions below the

$1,000 psf mark between 4Q2017 and March

21. Among them are several projects that have

high collective sale potential, according to Edge-

Prop’s en bloc calculator. They are Sherwood

Tower in Bukit Timah; Hillcrest Arcadia and

The Arcadia on Arcadia Road, off Adam Road;

Kentish Lodge on Rangoon Road; Townhouse

Apartments, adjacent to Anglo-Chinese School

(Junior); Bukit Regency in Upper Bukit Timah;

SKT Mansions in Aljunied; and Pandan Val-

ley, off Holland Road (see table).

Sherwood Tower is a 269-unit apartment

block within Bukit Timah Plaza. Residents

enjoy direct lift access to the retail podium of

the mixed-use development. In the most re-

cent transaction, an 829 sq ft unit changed

hands for $662,800 ($800 psf) on March 6. In

February, a 1,830 sq ft unit and a 1,539 sq ft

unit were sold for $1.1 million ($601 psf) and Hillcrest Arcadia (top) and The Arcadia are near Dunearn Court, which was sold en bloc to Roxy-Pacific Holdings for $36.3 million ($1,371 psf ppr) last October

Affordable properties with en bloc potential in Central Singapore

PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE

PROPERTY PICKS


Projects in Central Region with units priced below $1,000 psf

PROJECT DISTRICT TENURE YEAR OF NO NO OF UNITS AVERAGE COMPLETION OF UNITS SOLD BELOW PRICE PSF ($) $1,000 PSF

Aston Mansions 14 99 years 1998 159 8 808

Sherwood Tower 21 99 years 1980 269 8 690

Simsville 14 99 years 1998 522 8 903

The Interlace 4 99 years 2013 1,040 8 758

High Oak Condominium 21 99 years 1999 192 7 868

Hillcrest Arcadia 11 99 years 1980 272 7 861

Atrium Residences 14 Freehold 2008 142 6 898

Sims Green 14 99 years 2003 108 6 696

Dunman View 15 99 years 2004 148 5 962

Kentish Lodge 8 99 years 1998 75 5 910

The Arcadia 11 99 years 1983 164 5 917

Kerrisdale 8 99 years 2005 481 4 989

Sims Residences 14 99 years 2002 112 4 788

Townhouse Apartments 9 99 years Unknown 48 4 862

Wing Fong Court 14 Freehold 1997 Unknown 4 720

Le Crescendo 14 Freehold 2006 228 3 932

Sherwood Condominium 21 Freehold 1998 116 3 976

Wing Fong Mansions 14 Freehold 1997 Unknown 3 760

Bukit Regency 21 Freehold 1995 224 3 980

SKT Mansions 14 Freehold 1993 Unknown 3 864

Pandan Valley 21 Freehold 1978 605 3 819

Central Grove 14 99 years 2001 262 3 850

Dover Parkview 5 99 years 1997 686 3 859

Bishan Park Condominium 20 99 years 1994 320 3 869

$968,000 ($629 psf), respectively.

About 300m from Bukit Timah Plaza is

Mayfair Gardens, a 99-year leasehold condo

completed in 1985. It was sold en bloc to Ox-

ley Holdings last November for $311 million,

or $1,244 psf per plot ratio (ppr). Each own-

er stands to receive a gross sale price of $1.7

million to $2.89 million, according to market-

ing agent Knight Frank.

The 272-unit Hillcrest Arcadia and 164-unit

The Arcadia are located on Arcadia Road, a

heritage road where trees are preserved, in

the established residential enclave bounded

by Adam Road, Dunearn Road and Eng Neo

Avenue. Both have 99-year tenures and were

completed in 1980 and 1983, respectively.

The most recent transaction at Hillcrest Arca-

dia was on Dec 28, 2017, when a 2,745 sq ft

unit was sold for $2.05 million ($747 psf). In

November, a 581 sq ft unit changed hands at

$560,088 ($964 psf).

In 2010, the residents of The Arcadia sought

to top up its remaining lease of 66 years to a

fresh 99 years, but the application was reject-

ed by the Singapore Land Authority. The con-

do’s design by local architect Chua Ka Seng

was inspired by the Hanging Gardens of Bab-

ylon, and it was the first building in Singa-

pore to feature vertical landscaping. Unit siz-

es in the development range from 3,466 sq ft

to 7,503 sq ft.

Six units at The Arcadia were sold at an av-

erage price of $874 psf last year, and the high-

est price achieved was $905 psf for a 3,735 sq

ft unit. In January this year, a 3,714 sq ft unit

fetched $3.7 million ($996 psf). The most re-

cent transaction on March 2 saw a 3,735 sq ft

going for $3.5 million ($937 psf).Hillcrest Arcadia and The Arcadia are near

the 12-unit Dunearn Court, which was sold en

bloc to Roxy-Pacific Holdings for $36.3 million

($1,371 psf ppr) last October. Each owner is ex-

pected to receive a gross sale proceeds of $2.91

million to $3.12 million upon completion of

the sale, according to Knight Frank, which bro-

kered the deal.

Located about 400m from the Farrer Park

MRT station, the 75-unit Kentish Lodge saw

two transactions in January. A 1,184 sq ft unit

changed hands at $950,000 ($802 psf), and a

1,216 sq ft unit fetched $1.17 million ($962 psf).

Across the Central Expressway from Kentish

Lodge is the Moulmein/Novena area, where col-

lective sale sites have been launched and sold.

They include the 18-unit Derby Court, which

was acquired by Roxy-Pacific Holdings for $73.9

million ($1,390 psf ppr) last December, and 27

Moulmein Rise. Along with a smaller piece of

adjacent land, the vacant site at 27 Moulmein

Rise was put up for sale by tender on March 9

with a minimum price of $110 million ($1,525

psf ppr). According to Savills Singapore, which

is brokering the sale, the two residential devel-

opment sites have a total area of 22,198 sq ft

and a plot ratio of 2.8. They have a combined

maximum allowable gross floor area of 72,147

sq ft, inclusive of the 10% balcony bonus GFA.A group of residents at Pandan Valley, a

freehold condo with 605 units, are reportedly

attempting a collective sale. A 3,089 sq ft unit

at the development changed hands at $2.8 mil-

lion ($906 psf) in January. Another 2,669 sq

ft unit went for $2.55 million ($955 psf) last

December. Completed in 1978, Pandan Valley

was designed by Tan Cheng Siong, founder

of Archurban Architects Planners, who also

designed Pearl Bank Apartments. The icon-

ic horseshoe-shaped development in Outram

was recently acquired en bloc by CapitaLand

for $728 million ($1,515 psf ppr).Located near Pandan Valley is the 660-unit

Pine Grove, which was put up for collective

sale at $1.7 billion in 2011. Some residents

are attempting for the third time to launch

a collective sale of the former HUDC estate.

Also located nearby is the 464-unit Ridge-

wood, whose 672,148 sq ft site has a 999-year

lease. Although Ridgewood’s previous collec-

tive sale attempts in 2007 and 2013 did not

garner enough approval from the residents,

a group of owners are reportedly launching

a third attempt.

*Based on URA caveat data as at March 21. Table includes only projects with at least three transactions below $1,000 psf in the period of 4Q2017 to March 21.

SOURCE: URA, EDGEPROP

In January, a 1,184 sq ft unit at Kentish Lodge changed hands at $950,000 ($802 psf), and a 1,216 sq ft unit fetched $1.17 million ($962 psf)

A group of residents at Pandan Valley, a freehold condo with 605 units, are reportedly attempting a collective sale

E

COVER STORY


| BY CECILIA CHOW |

Located on Old Holland Road

and partially hidden from street

view is a Good Class Bungalow

(GCB) with a neat picket fence.

The grand proportions of the

house point to a classical design. The

decorative frieze running along the

border of the porte cochère was in-

spired by a visit to Mauritius, while

the patterned granite flooring at the

entrance was inspired by a visit to

St Petersburg.

The entrance hall — with its 8m

ceiling and painted dome, grand

staircase with brass railings, tex-

tured walls and arched doorways —

reflects a Mediterranean style. The

textured walls and painted dome are

the work of two British artists, the

limestone floor tiles are from Par-

is and the designer bathroom tiles

from Spain.

“We love to travel,” says the home-

owner, a retired Singaporean lawyer

who only wants to be known as Lou-

isa. Her husband, a former CEO of a

giant international retail group, trav-

elled extensively as part of his job,

and Louisa often joined him.

The couple was based in Hong

Kong when they purchased the GCB

on Old Holland Road in the early

1990s. It was also then that Louisa’s

husband’s company acquired a super-

market chain in Spain and therefore,

the couple spent some time there.

“I didn’t want to sit around watch-

ing television all day,” says Louisa.

“So, I studied Spanish, and made

use of the time purchasing things

for the house.”

Backdrop for art collectionThe house is a reflection of its

well-travelled owner, who is also a

prolific art collector and passionate

about interior design. “I not only

designed and decorated this house,

but also our home in Hong Kong as

well as the homes of friends in Hong

Kong, Indonesia and Singapore,”

says Louisa.

The formal living room has cathe-

dral-like proportions and the same

textured walls as the entrance hall.

The adjoining lounge has a tropical

theme, with the walls painted by a

Cambodian artist. The formal din-

ing room is decidedly in the French

château style.

European branded finishInstead of separate wet and dry

kitchens, Louisa opted for one big

kitchen. The customised kitchen

cabinetry system is by top German

brand Allmilmö, and Louisa had it

specially ordered from Europe. The

kitchen appliances are all top-end

German brand Gaggenau. Even the

bathroom fittings and sanitaryware

are manufactured by German brand

Dornbracht.

On the first level of the house are

a television room and two spacious

en suite bedrooms. The second level

contains two more bedrooms, in-

cluding the master suite. One of

the bedrooms on the second lev-

el, which is also en suite, has been

turned into a study.

The palatial master suite, which

features French furniture, has a hid-

den door leading to the balcony over-

looking the formal living room. “Dur-

ing Christmas parties, we have the

children’s choir up on the balcony,”

says Louisa. “And during Chinese New

Year, we have the lion dance troupe.”

The massive master bathroom

comes with a European cast iron

clawfoot bathtub, double-sink vani-

ty top, a separate bidet and shower

compartment.

‘Built to last’There are not only his and hers sinks

in the master bathroom but also his

and hers walk-in wardrobes in the

master suite. “Some couples with

young children have said that my

walk-in wardrobe can be turned into

a nursery, while my husband’s can be

turned into an adjoining bedroom for

a young child or a study,” says Louisa.

Within the master suite is a con-

cealed dumb waiter that is big enough

to fit four large suitcases. “It’s great,

as we travelled a lot; we didn’t have

to carry the suitcases upstairs or

downstairs,” Louisa says. There is

also a concealed storage space for

linens and towels, as well as a spa-

cious attic accessible via a pull-down

staircase from the master suite. The

attic has been turned into Louisa’s

craft room.

The basement has been turned

into an entertainment area, with a

bar opening out to the swimming

pool, and a bomb shelter convert-

ed into a wine cellar. It also houses

the maid’s room and laundry room.

Even though the property was

built 24 years ago, it is so well main-

tained that it hardly shows its age.

“We bought the house 27 years ago,

and didn’t rebuild it until three years

later, and we have been living here

very happily ever since,” says Loui-

sa. She estimates that the total cost

of rebuilding the house was about

$1 million. Today, it is likely to cost

$5 million to $6 million to build a

house of a similar scale.

The formal living room of the GCB on Old Holland Road has a double-volume ceiling

Inside a $29.8 mil GCB A Good Class Bungalow on Old Holland Road offers a glimpse

of the lifestyle of the discreetly rich. The property is now on the market. Who are the potential buyers?

SAMUEL ISAAC CHUA/THE EDGE SINGAPORE

PICTURES: ALBERT CHUA/THE EDGE SINGAPORE

Sim: It is like a piece of art, a home where you would be proud to invite guests

COVER STORY


2,500

2,000

1,500

1,000

500

0

1600

1400

1200

1000

800

600

400

200

0

Total GCB transacted value and sales volume

20

07

20

08

20

09

20

10

20

11

20

12

20

13

20

14

20

15

20

16

20

17

20

18

Transacted value ($ mil) Average price psf ($)

Average price psf ($)

Total transacted value ($ mil)

Unaffected by BSD, spike in interest rateGCB demand has been particularly

strong in the prime areas. “Towards

the end of last year, we saw GCB sales

in Rochalie Drive and Cluny Park,”

says Real Star Premier’s Wong. “GCBs

in the Tanglin and in the vicinity of

Botanic Gardens are also soughtafter.

“Buyers are very selective when it

comes to location.”

In the luxury GCB market, where

prices are $30 million or higher, buy-

ers are increasingly businessmen,

top executives and professionals in

their early 40s or older, observes

Newsman’s Tan. The additional 1%

buyer’s stamp duty for properties

priced above $1 million has had lit-

tle impact on sentiment. “Buyers at

this end of the market want a GCB

because their business is doing well

and they are financially successful,”

Tan says. “They are not affected by

the BSD or a rise in interest rates.”

The sellers’ profiles are more var-

ied, observes Tan. Some are selling

because their children have grown

up and moved out of their home,

and they want a simpler lifestyle.

Some transactions are estate sales,

and others are carried out by owners

who want to distribute their wealth

to their children.

For Louisa and her husband, the

reason for selling their GCB is their

desire for a change in lifestyle. “We

don’t entertain as much now, and we

are looking forward to moving to our

new place,” she says. They are pric-

ing their property at an enticing price

below $30 million “because we know

Singaporeans love a good deal”, she

points out. “It’s priced to sell.”

ADDRESS AREA (SQ FT) TRANSACTED PRICE ($) UNIT PRICE ($ PSF) SALE DATE TENURE

King Albert Park 39,224 43,800,000 1,117 Feb 21 Freehold

Victoria Park Close 29,956 40,000,000 1,335 April 12 999 years from Dec 27, 1875

Leedon Park 31,216 40,880,000 1,310 June 9 Freehold

Queen Astrid Park 29,709 46,000,000 1,548 June 12 999 years from Sept 1, 1876

Cluny Road 20,236 34,500,000 1,705 Nov 15 Freehold

20 Cluny Hill 15,102 35,500,000 2,350 Nov 23 Freehold

Rochalie Drive 16,770 33,000,000 1,968 Dec 22 Freehold

ADDRESS AREA (SQ FT) TRANSACTED PRICE ($) UNIT PRICE ($ PSF) SALE DATE TENURE

Leedon Road 43,928 57,500,000 1,309 Jan 18 Freehold

Binjai Park 14,047 18,261,100 1,300 Jan 22 Freehold

Eng Neo Avenue 17,072 23,300,000 1,365 Jan 31 Freehold

Jalan Senandong 9,580 14,500,000 1,511 Jan 31 Freehold

Yarwood Avenue 16,146 19,400,000 1,201 March 1 999 years from March 26, 1885

Oriole Crescent 10,409 13,200,000 1,269 March 5 Freehold

Dalvey Road 20,139 35,400,000 1,757 March 8 Freehold

*Based on caveats lodged with URA Realis as at March 20, 2018

TABLES: URA REALIS

panies did well over the past year are

also in the market, looking to buy a

GCB for themselves,” says K H Tan,

a veteran luxury bungalow specialist

and managing director of Newsman

Realty. “There are a lot of new Sin-

gapore citizens from Indonesia and

China who are also actively looking

for a GCB.”

Tan expects the number of GCB

transactions above $30 million to

double this year from 2017. Last year,

seven GCBs were sold at more than

$30 million, of which four were above

$40 million (see tables).

So far in 1Q2018, there have been

seven GCB transactions totalling $181.56

million, with an average price of $1,385

psf, according to CBRE Research. In

2017, 41 GCBs were sold for a total of

$866.75 million, or an average price of

$1,328 psf. This translates into a price

increase of 4.3% in 1Q2018.

Newsman’s Tan expects prices in

the overall GCB market to increase by

5% to 10% in 2018. “Prices were soft

over the last few years, but with im-

proved sentiment, owing to the en bloc

fever, activity has picked up and pric-

es are likely to bounce back,” he says.

Of buyers and sellersWilliam Wong, founder of Real Star

Premier Group, which focuses on land-

ed property, expects the GCB transac-

tion value to cross $1 billion this year.

He attributes his forecast for 2018

to several factors: the gap between

buyer’s and seller’s asking prices is

closing; and more detached home

transactions since 2H2017, with more

of these sellers looking to upgrade to

a GCB. He estimates that 500 buyers

could enter the landed home segment

over the next two years, with most

being en bloc beneficiaries.

Steve Tay, CBRE Realty Associates

senior vice-president, resale division,

says there is certainly a ripple effect.

“Those en bloc beneficiaries with $3

million to $4 million in proceeds are

upgrading to landed property in the

prime districts,” he says. “Likewise,

those in landed property, especially

detached houses, want to upgrade

to a GCB.”

Buyers in the GCB market are also

getting younger, notes Tay. “We’ve

seen some in their 20s and early 30s

entering the GCB market, some of

whom could have financial support

from their parents.”

Lifestyle changesThe purchase of the home on Old

Holland Road more than 25 years

ago was the result of a change in life-

style, says Louisa. “My husband was

thinking of retiring, and we wanted

to find a location where both of us

would be happy living.”

The couple was living in Hong

Kong at the time, but they short-list-

ed a number of locations for their

next phase of life: British Columbia

in Canada, Hawaii, Italy, Singapore

and Tasmania, Australia. “We award-

ed points for each of the places we

wanted to live in,” says Louisa. “After

much consideration of factors such

as lifestyle, convenience in terms of

travel and availability of medical fa-

cilities, Singapore emerged at the top

of our list.”

Now that her husband is increasing-

ly wheelchair-dependent, the couple

felt it was time to move once again.

“We decided we wanted the living

area to be on one level, and where

we would still have a private pool

and garden,” says Louisa. After vis-

iting many penthouses, they honed

in on one in a freehold, luxury con-

dominium on Bukit Timah Road. It

comes with private lift access, a pri-

vate roof terrace with swimming pool

and a deck that Louisa is turning into

a “hanging garden”.

She is already planning how to fur-

nish the new home. “It’s very quiet,

and we’re looking forward to moving

to the new place. I like the fact that

we’re near Orchard Road, but still out-

side the bustle of the shopping belt.”

The couple recently put the house

on Old Holland Road on the mar-

ket. It has a built-up area of about

12,000 sq ft and sits on a freehold

25,810 sq ft plot.

What the couple liked about the

house when they first purchased it

was the wide frontage and space to

entertain. The space is large enough

for parties of up to 250 people.

The entire main house was rebuilt.

The only original structures that were

retained were the standalone garage,

and the maid’s quarters in the base-

ment. “We wanted to keep some of

the character of the original property,

such as the original terrazzo tiles in

the basement,” says Louisa.

‘A piece of art’The asking price for the GCB on Old

Holland Road is $29.8 million, which

translates into a land rate of $1,155

psf. “It’s a reasonable price,” says

Jeffrey Sim, associate executive di-

rector of OrangeTee & Tie real estate

agency and the marketing agent for

the house.

“It is like a piece of art, a home

where you would be proud to invite

guests. I would keep at least 80% of

the house intact, as it’s so well main-

tained, and just do minor alterations

to suit my lifestyle.”

Most GCB buyers today are buying

for their own use. According to Sim,

there have been many enquiries, as

GCBs in the Old Holland Road en-

clave are rarely put on the market.

The latest transaction in the neigh-

bourhood was that of a house at Sev-

en Oaks, a cluster of GCBs developed

by MCL Land and located on Garlick

Avenue and Old Holland Road. The

GCBs at Seven Oaks were fully sold

and completed in 1998.

The GCB at Seven Oaks that was

recently sold occupies a freehold site

of 18,546 sq ft and fetched $16.8

million ($906 psf) last October, ac-

cording to a caveat lodged then. At

the last peak in November 2010, the

GCB changed hands for $20 million

($1,079 psf), according to a caveat

lodged then.

Transactions above $30 milto doubleSentiment in the GCB market picked

up in 2H2017, following the en bloc

fever. “Some developers whose com-

The entrance hall has an 8m-high ceiling and a painted dome

CBRE RESEARCH

E

The basement bar and entertainment area open out to the swimming pool

GCB transactions in 1Q2018*

GCB transactions above $30 mil in 2017


| BY TIMOTHY TAY |

The property market is on an

upturn and the prime dis-

tricts have seen successful

collective sales recently, the

biggest of which was that

of Pacific Mansion on River Valley

Close, which was sold en bloc for

$980 million on March 19.

Pacific Mansion was purchased by

a joint venture company set up by

listed property developer GuocoLand,

led by Malaysian tycoon Quek Leng

Chan, and privately held entities of

Hong Leong Holdings in Singapore,

controlled by his cousin and fellow

tycoon, Kwek Leng Beng.

Pacific Mansion’s purchase price

of $980 million translates into a land

rate of $1,806 psf per plot ratio (ppr),

which means the new freehold de-

velopment on the site is likely to

have selling prices in the range of

$3,000 to $3,200 psf, estimate prop-

erty consultants.

Meanwhile, Cairnhill Mansions

was sold en bloc to Low Keng Huat for

$362 million, or a land rate of $2,311

psf ppr, which will mean that the sell-

ing prices of the new development

are likely to be $3,500 psf and above.

Given the future prices of these

new developments, developers sitting

on already-launched projects are also

increasing their prices. Buyers who

were undecided before may now feel

the pressure to purchase a property,

says Leong Boon Hoe, chief operat-

ing officer of List Sotheby’s Interna-

tional Realty.

Leong says GuocoLand is likely to

restrategise its pricing of Martin Mod-

ern. The 99-year leasehold develop-

ment is located at Martin Place, off

Martin Road and River Valley Close.

When the 450-unit luxury condo was

launched last July, the average price

was $2,100 to $2,200 psf. Transaction

prices at Martin Modern have been

trending higher.

Over the past fortnight, 13 units

at Martin Modern were sold, with

many of them surpassing $2,800 psf,

although the caveats for these units

have yet to be lodged, says Dominic

Lee, head of the luxury team at Pro-

pNex Realty. However, following the

sales of the 13 units by Lee’s team at

PropNex, the sales gallery was closed

on March 17. The developer is be-

lieved to be reviewing prices, and

could launch a new phase at a later

date and at higher prices.

According to Lee, projects in the

prime districts of River Valley and

Cairnhill are now crossing the $2,800

psf level and are likely to reach $3,500

psf in the current property cycle. He

says prices achieved at Government

Land Sales (GLS) sites have a greater

impact on developers’ pricing strat-

egies for new launches in the prime

districts compared with prices of land

sold in collective sales in the same

neighbourhood.

He points to Martin Modern as

an example. Prior to the close of the

tender of the GLS site on Jiak Kim

Street in December, prices of units

sold at Martin Modern were around

$2,380 psf, he notes. Following the

sale of the GLS site to Frasers Prop-

erty at $1,711 psf ppr, average pric-

es at Martin Modern rose to $2,700

psf in January. The Jiak Kim Street

site is located across the road from

Martin Modern.

At Cairnhill Circle, seven units at

Hilltops were sold during the week

of March 6 to 13. They are a mix of

two- and three-bedroom units ranging

from 807 to 1,711 sq ft, and the ave-

rage price was $2,967 psf.

The 241-unit, freehold luxury Hill-

tops was developed by SC Global De-

velopments and completed in 2011.

Besides Hilltops, other relatively

new luxury condos in the Cairnhill

area are also likely to see increased

sales, according to Sotheby’s Leong.

He cites Far East Organization’s The

Scotts Tower and KOP Properties’

The Ritz-Carlton Residences.

There is a limited supply of lux-

ury projects in the pipeline at the

moment, and developers will cer-

tainly take their cue from the prices

achieved at collective sales and GLS

sites recently when pricing the re-

maining units in their development,

adds Leong.

Singapore — by postal districtLOCALITIES DISTRICTSCity & Southwest 1 to 8Orchard/Tanglin/Holland 9 and 10Newton/Bukit Timah/Clementi 11 and 21Balestier/MacPherson/Geylang 12 to 14East Coast 15 and 16Changi/Pasir Ris 17 and 18Serangoon/Thomson 19 and 20West 22 to 24North 25 to 28

Residential transactions with contracts dated March 6 to 13

District 1 V ON SHENTON Apartment 99 years March 08, 2018 1,216 2,800,000 - 2,302 2017 New SaleV ON SHENTON Apartment 99 years March 12, 2018 484 1,050,000 - 2,168 2017 Sub SaleDistrict 2 EON SHENTON Apartment 99 years March 12, 2018 624 1,800,000 - 2,883 2017 Sub SaleICON Apartment 99 years March 08, 2018 570 1,060,000 - 1,858 2007 ResaleINTERNATIONAL PLAZA Apartment 99 years March 08, 2018 1,033 1,070,000 - 1,035 1976 ResaleSPOTTISWOODE RESIDENCES Condominium Freehold March 08, 2018 797 1,557,500 - 1,955 2013 ResaleWALLICH RESIDENCE AT TANJONG PAGAR CENTRE Apartment 99 years March 10, 2018 861 2,800,000 - 3,252 2017 New SaleDistrict 3 ARTRA Apartment 99 years March 07, 2018 1,227 2,216,400 - 1,806 Uncompleted New SaleARTRA Apartment 99 years March 07, 2018 829 1,678,300 - 2,025 Uncompleted New SaleECHELON Condominium 99 years March 07, 2018 1,572 2,920,000 - 1,858 2016 ResaleQUEENS PEAK Condominium 99 years March 09, 2018 850 1,659,000 - 1,951 Uncompleted New SaleQUEENS PEAK Condominium 99 years March 11, 2018 850 1,652,000 - 1,943 Uncompleted New SaleQUEENS PEAK Condominium 99 years March 11, 2018 807 1,569,000 - 1,944 Uncompleted New SaleQUEENS PEAK Condominium 99 years March 11, 2018 861 1,629,000 - 1,892 Uncompleted New SaleTHE CREST Condominium 99 years March 07, 2018 1,023 2,106,000 - 2,059 2017 ResaleTHE CREST Condominium 99 years March 09, 2018 1,281 2,673,000 - 2,087 2017 ResaleTHE CREST Condominium 99 years March 12, 2018 1,033 2,143,000 - 2,074 2017 ResaleDistrict 4 CARIBBEAN AT KEPPEL BAY Condominium 99 years March 12, 2018 1,335 2,150,000 - 1,611 2004 ResaleMARINA COLLECTION Condominium 99 years March 12, 2018 2,347 4,300,000 - 1,832 2011 ResaleCOVE GROVE Detached 99 years March 08, 2018 10,107 15,000,000 - 1,485 2011 ResaleREFLECTIONS AT KEPPEL BAY Condominium 99 years March 12, 2018 1,765 3,337,180 - 1,890 2011 ResaleSEASCAPE Condominium 99 years March 09, 2018 2,164 4,500,000 - 2,080 2011 ResaleTHE FORESTA @ MOUNT FABER Condominium Freehold March 12, 2018 947 1,580,000 - 1,668 2014 ResaleTHE INTERLACE Condominium 99 years March 09, 2018 3,735 4,450,000 - 1,191 2013 ResaleDistrict 5 LANDRIDGE CONDOMINIUM Condominium Freehold March 08, 2018 1,894 2,150,000 - 1,135 1993 ResaleJALAN MAT JAMBOL Semi-Detached Freehold March 07, 2018 3,972 4,080,000 - 1,028 1987 ResalePARC RIVIERA Condominium 99 years March 08, 2018 1,184 1,320,000 - 1,115 Uncompleted New SaleTHE CLEMENT CANOPY Apartment 99 years March 10, 2018 1,345 1,992,000 - 1,480 Uncompleted New SaleTHE CLEMENT CANOPY Apartment 99 years March 10, 2018 990 1,471,000 - 1,485 Uncompleted New SaleTHE ORIENT Apartment Freehold March 08, 2018 990 1,820,750 - 1,839 2017 New Sale

LAND AREA/ NETT UNIT FLOOR AREA TRANSACTED PRICE PRICE COMPLETION TYPE OFPROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($) ($ PSF) DATE SALE

THE TRILINQ Condominium 99 years March 09, 2018 1,345 1,649,000 - 1,226 2017 New SaleWESTSIDE 33 Terrace Freehold March 08, 2018 2,508 1,900,000 - 758 2006 ResaleDistrict 7 CONCOURSE SKYLINE Apartment 99 years March 09, 2018 818 1,370,000 - 1,675 2014 ResaleSUNSHINE PLAZA Apartment 99 years March 08, 2018 1,044 1,350,000 - 1,293 2001 ResaleDistrict 8 FORTE SUITES Apartment Freehold March 07, 2018 678 1,367,000 - 2,016 2016 New SaleOXFORD SUITES Apartment Freehold March 08, 2018 678 980,000 - 1,445 2010 ResaleSTURDEE RESIDENCES Condominium 99 years March 09, 2018 947 1,516,000 - 1,600 Uncompleted New SaleSTURDEE RESIDENCES Condominium 99 years March 09, 2018 1,302 2,248,000 - 1,726 Uncompleted New SaleDistrict 9 8 @ MOUNT SOPHIA Condominium 103 years March 09, 2018 861 1,200,000 - 1,394 2007 ResaleHILLTOPS Condominium Freehold March 09, 2018 1,711 5,289,000 - 3,090 2011 ResaleHILLTOPS Condominium Freehold March 09, 2018 1,335 4,153,000 - 3,111 2011 ResaleHILLTOPS Condominium Freehold March 09, 2018 1,711 5,153,000 - 3,011 2011 ResaleHILLTOPS Condominium Freehold March 09, 2018 1,249 3,466,000 - 2,776 2011 ResaleHILLTOPS Condominium Freehold March 09, 2018 1,249 3,506,000 - 2,808 2011 ResaleHILLTOPS Condominium Freehold March 09, 2018 1,335 4,046,000 - 3,031 2011 ResaleHILLTOPS Condominium Freehold March 12, 2018 807 2,268,000 - 2,809 2011 ResaleMARTIN MODERN Condominium 99 years March 07, 2018 764 2,111,240 - 2,763 Uncompleted New SaleMARTIN MODERN Condominium 99 years March 08, 2018 872 2,230,620 - 2,558 Uncompleted New SaleMARTIN MODERN Condominium 99 years March 09, 2018 764 2,038,500 - 2,667 Uncompleted New SaleMARTIN MODERN Condominium 99 years March 09, 2018 764 2,043,000 - 2,673 Uncompleted New SaleMARTIN MODERN Condominium 99 years March 09, 2018 764 2,135,700 - 2,795 Uncompleted New SaleMARTIN MODERN Condominium 99 years March 09, 2018 764 2,151,660 - 2,815 Uncompleted New SaleMARTIN MODERN Condominium 99 years March 09, 2018 764 2,147,900 - 2,810 Uncompleted New SaleMARTIN MODERN Condominium 99 years March 09, 2018 764 2,136,620 - 2,796 Uncompleted New SaleMARTIN MODERN Condominium 99 years March 11, 2018 872 2,226,860 - 2,554 Uncompleted New SaleRICHMOND PARK Condominium Freehold March 09, 2018 1,012 2,800,000 - 2,767 1996 ResaleSOPHIA HILLS Condominium 99 years March 07, 2018 1,313 2,769,000 - 2,109 Uncompleted New SaleSOPHIA RESIDENCE Condominium Freehold March 07, 2018 1,453 2,240,000 - 1,541 2014 ResaleTHE COSMOPOLITAN Condominium Freehold March 09, 2018 1,141 2,550,000 - 2,235 2008 ResaleTHE PEAK @ CAIRNHILL II Apartment Freehold March 09, 2018 829 2,450,000 - 2,956 2015 ResaleTHE SUITES AT CENTRAL Condominium Freehold March 08, 2018 1,808 4,050,000 - 2,240 2009 ResaleTHE VERMONT ON CAIRNHILL Apartment Freehold March 09, 2018 1,432 3,050,000 - 2,130 2013 ResaleUE SQUARE Apartment 929 years March 09, 2018 1,625 2,650,000 - 1,630 1997 ResaleUE SQUARE Apartment 929 years March 12, 2018 710 1,200,000 - 1,689 1997 ResaleWATERMARK ROBERTSON QUAY Apartment Freehold March 08, 2018 1,281 2,380,000 - 1,858 2008 ResaleDistrict 10 8 NAPIER Condominium Freehold March 08, 2018 2,013 6,300,000 - 3,130 2010 ResaleDUCHESS GARDEN Semi-Detached 999 years March 09, 2018 5,134 8,050,000 - 1,569 1975 ResaleGRAMERCY PARK Condominium Freehold March 09, 2018 1,970 6,383,700 - 3,241 2016 ResaleGRAMERCY PARK Condominium Freehold March 12, 2018 1,959 6,405,840 - 3,270 2016 ResaleHALLMARK RESIDENCES Condominium Freehold March 12, 2018 1,862 3,518,000 - 1,889 2015 ResaleILLOURA Semi-Detached Freehold March 08, 2018 4,564 4,480,000 - 982 2009 ResaleLEEDON RESIDENCE Condominium Freehold March 12, 2018 7,007 12,342,000 - 1,761 2015 ResaleMON JERVOIS Condominium 99 years March 09, 2018 1,561 3,248,521 - 2,081 2016 ResaleMONTVIEW Condominium Freehold March 07, 2018 1,507 2,450,000 - 1,626 2008 ResalePRINCESS OF WALES ROAD Detached Freehold March 08, 2018 5,134 12,800,000 - 2,491 1983 ResaleDALVEY ROAD Detached Freehold March 08, 2018 20,139 35,400,000 - 1,757 1992 ResaleGREENLEAF VIEW Semi-Detached Freehold March 08, 2018 3,584 5,700,000 - 1,588 1996 ResaleLEMON AVENUE Terrace Freehold March 12, 2018 2,110 3,880,000 - 1,837 1975 ResaleONE BALMORAL Condominium Freehold March 09, 2018 2,314 4,977,000 - 2,151 2016 ResaleONE JERVOIS Condominium Freehold March 08, 2018 1,948 3,168,000 - 1,626 2009 ResalePARKSUITES Apartment 110 years March 07, 2018 786 1,752,275 1,697,584 2,160 Uncompleted New SalePARKSUITES Apartment 110 years March 08, 2018 646 1,485,435 1,441,418 2,232 Uncompleted New SaleST REGIS RESIDENCES SINGAPORE Apartment 999 years March 12, 2018 1,507 3,680,000 - 2,442 2008 ResaleTANGLIN REGENCY Condominium 99 years March 12, 2018 850 1,218,000 - 1,432 1998 ResaleTHE ASANA Apartment Freehold March 08, 2018 570 1,574,000 - 2,759 2017 New SaleDistrict 11 26 NEWTON Apartment Freehold March 09, 2018 614 1,596,400 - 2,602 2016 Resale26 NEWTON Apartment Freehold March 09, 2018 614 1,683,017 - 2,743 2016 ResaleGENTLE VILLAS Semi-Detached 99 years March 09, 2018 2,260 3,000,000 - 1,330 1995 ResaleLA SUISSE Condominium 999 years March 09, 2018 1,679 1,800,000 - 1,072 1993 ResaleM21 Apartment Freehold March 12, 2018 1,755 2,450,000 - 1,396 2010 ResaleMULBERRY TREE Apartment Freehold March 09, 2018 1,335 1,750,000 - 1,311 2010 ResaleVANDA CRESCENT Detached Freehold March 08, 2018 9,052 14,250,000 - 1,574 1975 ResaleLINDEN DRIVE Semi-Detached Freehold March 09, 2018 3,897 6,980,000 - 1,793 2006 Resale


Since Martin Modern’s launch last July, more than half the units at the 450-unit luxury condo have been sold

GUOCOLAND

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New luxury condos in prime districts could hit $3,500 psf

DONE DEALS


Residential transactions with contracts dated March 6 to 13


GREENDALE RISE Detached Freehold March 12, 2018 6,609 9,888,888 - 1,497 1977 ResaleWHITLEY ROAD Semi-Detached Freehold March 12, 2018 2,282 5,400,000 - 2,366 2017 ResaleNINETEEN SHELFORD ROAD Condominium Freehold March 08, 2018 936 1,500,000 - 1,602 1997 ResaleSOLEIL @ SINARAN Condominium 99 years March 07, 2018 936 1,730,000 - 1,847 2011 ResaleSOLEIL @ SINARAN Condominium 99 years March 08, 2018 936 1,640,000 - 1,751 2011 ResaleWATTEN HILL Condominium Freehold March 12, 2018 2,669 3,088,888 - 1,157 1979 ResaleDistrict 12 GEM RESIDENCES Condominium 99 years March 07, 2018 678 1,188,000 - 1,752 Uncompleted New SaleGEM RESIDENCES Condominium 99 years March 08, 2018 1,313 2,030,000 - 1,546 Uncompleted New SaleGEM RESIDENCES Condominium 99 years March 11, 2018 1,313 2,084,000 - 1,587 Uncompleted New SaleGEM RESIDENCES Condominium 99 years March 11, 2018 1,249 1,859,000 - 1,489 Uncompleted New SaleKALLANG RIVERSIDE Apartment Freehold March 10, 2018 517 1,324,138 - 2,563 Uncompleted New SaleST. MICHAEL’S ROAD Terrace Freehold March 07, 2018 1,658 1,900,000 - 1,147 1970 ResaleNEEM TREE Apartment Freehold March 07, 2018 710 1,193,600 - 1,680 Uncompleted New SaleST MICHAEL’S PLACE Apartment Freehold March 09, 2018 1,227 1,320,000 - 1,076 1997 ResaleTREVISTA Condominium 99 years March 07, 2018 1,141 1,270,000 - 1,113 2011 ResaleTREVISTA Condominium 99 years March 08, 2018 893 1,268,000 - 1,419 2011 ResaleDistrict 13 E MAISON Apartment Freehold March 12, 2018 1,152 1,518,336 - 1,318 2016 ResaleOASIS @ MULBERRY Terrace Freehold March 09, 2018 2,497 3,188,888 - 1,275 2006 ResaleSERANGOON PARK Semi-Detached Freehold March 08, 2018 3,455 3,700,000 - 1,070 1972 ResaleDistrict 14 DAKOTA RESIDENCES Condominium 99 years March 07, 2018 1,313 1,700,000 - 1,295 2010 ResaleEUNOS PARK Condominium Freehold March 08, 2018 1,679 1,580,000 - 941 1995 ResaleGOODVIEW APARTMENTS Apartment Freehold March 08, 2018 1,141 822,000 - 720 1994 ResaleLA FLEUR Apartment Freehold March 09, 2018 420 532,000 - 1,267 2014 ResaleLA FLEUR Apartment Freehold March 12, 2018 431 525,000 - 1,219 2014 ResaleLE CRESCENDO Condominium Freehold March 08, 2018 1,184 1,420,000 - 1,199 2006 ResaleLE CRESCENDO Condominium Freehold March 09, 2018 1,173 1,380,000 - 1,176 2006 ResaleLE CRESCENDO Condominium Freehold March 09, 2018 3,649 2,915,000 - 799 2006 ResaleLEVENUE Apartment Freehold March 08, 2018 495 655,000 - 1,323 2014 ResaleJALAN SAYANG Detached Freehold March 08, 2018 5,005 5,250,000 - 1,050 1995 ResaleREZI 35 Apartment Freehold March 09, 2018 840 1,183,000 - 1,409 Uncompleted New SaleREZI 35 Apartment Freehold March 11, 2018 797 1,279,000 - 1,606 Uncompleted New SaleSIMS EDGE Apartment Freehold March 13, 2018 409 600,000 - 1,467 2014 ResaleSIMS URBAN OASIS Condominium 99 years March 07, 2018 1,442 2,153,200 - 1,493 2017 New SaleSIMS URBAN OASIS Condominium 99 years March 09, 2018 958 1,346,700 - 1,406 2017 New SaleSIMS URBAN OASIS Condominium 99 years March 09, 2018 958 1,346,700 - 1,406 2017 New SaleTHE NAVIAN Apartment Freehold March 11, 2018 904 1,394,112 - 1,542 Uncompleted New SaleTHE WATERINA Apartment Freehold March 12, 2018 1,335 1,600,000 - 1,199 2005 ResaleWATERBANK AT DAKOTA Condominium 99 years March 09, 2018 883 1,100,000 - 1,246 2013 ResaleDistrict 15 ARTHUR 118 Apartment Freehold March 12, 2018 893 1,398,000 - 1,565 2006 ResaleCASUARINA COVE Condominium 99 years March 12, 2018 1,389 1,800,000 - 1,296 1996 ResaleCOTE D’AZUR Condominium 99 years March 08, 2018 1,109 1,355,000 - 1,222 2004 ResaleCRESCENDO PARK Condominium Freehold March 12, 2018 1,432 1,650,000 - 1,153 1996 ResaleDE CENTURION Apartment Freehold March 08, 2018 1,044 1,580,000 - 1,513 2010 ResaleDUNMAN VIEW Condominium 99 years March 08, 2018 1,227 1,165,650 - 950 2004 ResaleESPIRA RESIDENCE Apartment Freehold March 08, 2018 1,550 1,295,000 - 835 2009 ResaleFORTUNE JADE Apartment Freehold March 08, 2018 1,098 1,520,000 - 1,384 2003 ResaleHERITAGE RESIDENCES Apartment Freehold March 12, 2018 441 545,000 - 1,235 2008 ResaleLANGSAT ROAD Terrace Freehold March 09, 2018 1,679 3,500,000 - 2,080 2014 ResaleTELOK KURAU ROAD Apartment Freehold March 12, 2018 1,302 1,280,000 - 983 1971 ResaleONE AMBER Condominium Freehold March 07, 2018 1,335 2,448,000 - 1,834 2010 ResaleSANCTUARY GREEN Condominium 99 years March 12, 2018 1,399 1,610,000 - 1,151 2004 ResaleSANCTUARY GREEN Condominium 99 years March 12, 2018 1,141 1,250,000 - 1,096 2004 ResaleSEASIDE RESIDENCES Apartment 99 years March 08, 2018 1,259 2,015,000 - 1,600 Uncompleted New SaleSEASIDE RESIDENCES Apartment 99 years March 10, 2018 592 979,000 - 1,654 Uncompleted New SaleSEASIDE RESIDENCES Apartment 99 years March 11, 2018 592 1,067,000 - 1,802 Uncompleted New SaleSEASIDE RESIDENCES Apartment 99 years March 11, 2018 560 972,000 - 1,737 Uncompleted New SaleSEASIDE RESIDENCES Apartment 99 years March 11, 2018 1,087 1,683,000 - 1,548 Uncompleted New SaleSUITES @ EASTCOAST Condominium Freehold March 09, 2018 366 560,000 - 1,530 2012 ResaleSUNNY PALMS Condominium Freehold March 12, 2018 1,055 1,088,000 - 1,031 2004 ResaleTAIPAN GRAND Apartment Freehold March 09, 2018 1,227 1,700,000 - 1,385 2005 ResaleTHE LINE @ TANJONG RHU Condominium Freehold March 08, 2018 431 993,280 - 2,307 2016 ResaleTHE LINE @ TANJONG RHU Condominium Freehold March 08, 2018 581 1,338,600 - 2,303 2016 ResaleTHE SOUND Condominium Freehold March 07, 2018 904 1,400,000 - 1,548 2013 ResaleDistrict 16 BAYSHORE PARK Condominium 99 years March 09, 2018 1,292 1,380,000 - 1,068 1986 ResaleBEDOK RESIDENCES Apartment 99 years March 12, 2018 3,078 3,201,000 - 1,040 2015 ResaleBEDOK RIA Terrace Freehold March 12, 2018 1,776 2,540,000 - 1,431 1991 ResaleCOSTA DEL SOL Condominium 99 years March 12, 2018 1,238 1,543,888 - 1,247 2003 ResaleEAST MEADOWS Condominium 99 years March 08, 2018 1,345 1,280,000 - 951 2002 ResaleEAST MEADOWS Condominium 99 years March 08, 2018 861 888,000 - 1,031 2001 ResaleECO Condominium 99 years March 08, 2018 592 860,000 - 1,453 2017 ResaleGRANDEUR PARK RESIDENCES Condominium 99 years March 10, 2018 893 1,313,000 - 1,470 Uncompleted New SaleGRANDEUR PARK RESIDENCES Condominium 99 years March 11, 2018 893 1,275,000 - 1,427 Uncompleted New SaleGRANDEUR PARK RESIDENCES Condominium 99 years March 11, 2018 667 1,135,000 - 1,701 Uncompleted New SaleEVERGREEN AVENUE Semi-Detached Freehold March 08, 2018 3,218 3,800,000 - 1,181 Unknown ResaleHARVEY CRESCENT Semi-Detached Freehold March 09, 2018 3,423 4,200,000 - 1,227 1991 ResaleLANGSAT ROAD Apartment Freehold March 09, 2018 9,720 7,700,000 - 792 Unknown ResaleSEA BREEZE TERRACE Terrace Freehold March 12, 2018 1,862 3,100,000 - 1,665 1992 ResaleTHE BAYSHORE Condominium 99 years March 09, 2018 1,012 1,000,000 - 988 1996 ResaleTHE DAFFODIL Apartment Freehold March 09, 2018 689 740,000 - 1,074 1998 ResaleWATERFRONT GOLD Condominium 99 years March 12, 2018 1,378 1,428,000 - 1,036 2014 ResaleWATERFRONT KEY Condominium 99 years March 09, 2018 1,173 1,318,888 - 1,124 2012 ResaleWATERFRONT WAVES Condominium 99 years March 07, 2018 1,572 1,800,000 - 1,145 2011 ResaleDistrict 17 AZALEA PARK CONDOMINIUM Condominium 999 years March 07, 2018 1,335 1,200,000 - 899 1996 ResaleCARISSA PARK CONDOMINIUM Condominium Freehold March 09, 2018 926 768,000 - 830 2001 ResaleCARISSA PARK CONDOMINIUM Condominium Freehold March 12, 2018 3,014 2,180,000 - 723 2001 ResaleFERRARIA PARK CONDOMINIUM Condominium Freehold March 09, 2018 1,173 1,020,000 - 869 2009 ResaleHEDGES PARK CONDOMINIUM Condominium 99 years March 09, 2018 1,345 1,200,000 - 892 2015 ResalePARC OLYMPIA Condominium 99 years March 08, 2018 1,808 1,190,000 - 658 2015 ResaleTOH ESTATE Semi-Detached Freehold March 12, 2018 3,132 2,850,000 - 911 1995 ResaleDistrict 18 D’NEST Condominium 99 years March 09, 2018 969 1,000,000 - 1,032 2017 ResaleEASTPOINT GREEN Condominium 99 years March 09, 2018 958 773,000 - 807 1999 ResaleNV RESIDENCES Condominium 99 years March 09, 2018 1,227 1,085,000 - 884 2013 ResaleRIPPLE BAY Condominium 99 years March 12, 2018 1,475 1,225,000 - 831 2015 ResaleTHE SANTORINI Condominium 99 years March 07, 2018 915 920,000 - 1,006 2017 New SaleDistrict 19 CASA ROSA Condominium 99 years March 07, 2018 1,281 1,038,000 - 810 2001 ResaleCASA ROSA Condominium 99 years March 09, 2018 1,130 908,000 - 803 2001 ResaleCHARLTON 18 Terrace Freehold March 07, 2018 3,391 3,000,000 - 885 2016 ResaleCOMPASS HEIGHTS Apartment 99 years March 07, 2018 1,055 945,000 - 896 2002 ResaleKINGSFORD WATERBAY Apartment 99 years March 09, 2018 883 1,216,000 - 1,378 Uncompleted New SaleKINGSFORD WATERBAY Apartment 99 years March 09, 2018 689 1,004,000 - 1,457 Uncompleted New SaleKINGSFORD WATERBAY Apartment 99 years March 09, 2018 861 1,172,000 - 1,361 Uncompleted New SaleKINGSFORD WATERBAY Apartment 99 years March 09, 2018 883 1,212,000 - 1,373 Uncompleted New SaleKINGSFORD WATERBAY Apartment 99 years March 09, 2018 850 1,157,000 - 1,361 Uncompleted New SaleKINGSFORD WATERBAY Apartment 99 years March 09, 2018 883 1,215,000 - 1,377 Uncompleted New SaleKINGSFORD WATERBAY Apartment 99 years March 09, 2018 893 1,194,000 - 1,336 Uncompleted New SaleKINGSFORD WATERBAY Apartment 99 years March 09, 2018 850 1,138,000 - 1,338 Uncompleted New SaleKINGSFORD WATERBAY Apartment 99 years March 09, 2018 689 995,000 - 1,444 Uncompleted New Sale


KINGSFORD WATERBAY Apartment 99 years March 10, 2018 861 1,170,000 - 1,359 Uncompleted New SaleKINGSFORD WATERBAY Apartment 99 years March 10, 2018 689 991,000 - 1,439 Uncompleted New SaleKINGSFORD WATERBAY Apartment 99 years March 10, 2018 883 1,237,600 - 1,402 Uncompleted New SaleKINGSFORD WATERBAY Apartment 99 years March 10, 2018 678 978,000 - 1,442 Uncompleted New SaleKINGSFORD WATERBAY Apartment 99 years March 11, 2018 883 1,200,000 - 1,360 Uncompleted New SaleKINGSFORD WATERBAY Apartment 99 years March 11, 2018 850 1,155,000 - 1,358 Uncompleted New SaleKINGSFORD WATERBAY Apartment 99 years March 11, 2018 958 1,293,000 - 1,350 Uncompleted New SaleKOVAN MELODY Condominium 99 years March 07, 2018 893 1,070,000 - 1,198 2006 ResaleLA FIESTA Condominium 99 years March 07, 2018 840 1,030,000 - 1,227 2016 ResaleLA FIESTA Condominium 99 years March 07, 2018 1,195 1,440,000 - 1,205 2016 ResaleJALAN SONGKET Semi-Detached Freehold March 08, 2018 3,498 3,628,000 - 1,036 Unknown ResalePHILLIPS AVENUE Semi-Detached 999 years March 09, 2018 2,260 3,070,000 - 1,359 2001 ResalePHILLIPS AVENUE Detached 999 years March 09, 2018 10,398 9,600,000 - 923 Unknown ResaleAH SOO WALK Terrace Freehold March 09, 2018 2,314 2,576,000 - 1,112 Unknown ResalePALM GROVE REGENCY Semi-Detached 999 years March 09, 2018 3,186 2,180,000 - 684 2008 ResalePARK RESIDENCES KOVAN Apartment Freehold March 13, 2018 355 560,000 - 1,577 2014 ResaleRIVERSAILS Condominium 99 years March 09, 2018 850 843,000 - 991 2016 ResaleRIVERSAILS Condominium 99 years March 13, 2018 883 805,000 - 912 2016 ResaleRIVERSOUND RESIDENCE Condominium 99 years March 09, 2018 1,475 1,368,000 - 928 2015 ResaleSERANGOON GARDEN ESTATE Terrace 999 years March 07, 2018 2,164 2,600,000 - 1,202 Unknown ResaleSERANGOON GARDEN ESTATE Semi-Detached 999 years March 09, 2018 2,164 3,050,000 - 1,408 2001 ResaleSERANGOON GARDEN ESTATE Terrace 999 years March 09, 2018 2,788 3,400,000 - 1,218 1996 ResaleTHE COURTYARD Apartment Freehold March 12, 2018 1,259 1,380,000 - 1,096 1995 ResaleTHE MINTON Condominium 99 years March 07, 2018 1,216 1,300,000 - 1,069 2013 ResaleTHE SCALA Apartment 99 years March 12, 2018 904 1,300,000 - 1,438 2013 ResaleWEMBLY RESIDENCES Apartment Freehold March 07, 2018 1,561 1,500,888 - 962 2011 ResaleDistrict 20 BISHAN LOFT EC 99 years March 13, 2018 1,399 1,530,000 - 1,093 2003 ResaleBISHAN PARK CONDOMINIUM Condominium 99 years March 09, 2018 1,550 1,330,000 - 858 1994 ResaleGRANDEUR 8 Condominium 99 years March 12, 2018 1,453 1,550,000 - 1,067 2005 ResaleHORIZON GARDENS Terrace 99 years March 08, 2018 3,057 1,840,000 - 602 2002 ResaleJALAN RABU Terrace Freehold March 12, 2018 3,466 2,900,000 - 838 Unknown ResaleSEMBAWANG HILLS ESTATE Terrace Freehold March 08, 2018 1,862 2,748,000 - 1,472 Unknown ResaleSEMBAWANG HILLS ESTATE Terrace Freehold March 09, 2018 1,496 1,900,000 - 1,266 Unknown ResaleSEMBAWANG HILLS ESTATE Terrace Freehold March 09, 2018 1,528 3,163,000 - 2,069 Unknown ResaleSKY VUE Condominium 99 years March 08, 2018 797 1,190,000 - 1,494 2016 ResaleTHE PANORAMA Condominium 99 years March 12, 2018 1,066 1,630,000 - 1,530 2017 Sub SaleTHOMSON GARDEN ESTATE Terrace Freehold March 09, 2018 1,119 1,950,000 - 1,737 Unknown ResaleTHOMSON GARDEN ESTATE Terrace Freehold March 09, 2018 1,119 1,815,000 - 1,620 Unknown ResaleWELLINGTON PARK Terrace Freehold March 09, 2018 1,776 2,880,000 - 1,620 1985 ResaleDistrict 21 HUME PARK II Condominium Freehold March 08, 2018 969 1,060,000 - 1,094 1997 ResaleKISMIS RESIDENCES Terrace Freehold March 09, 2018 1,615 4,000,000 - 2,477 Uncompleted New SaleKISMIS RESIDENCES Terrace Freehold March 11, 2018 1,615 4,000,000 - 2,477 Uncompleted New SaleJALAN SELANTING Semi-Detached Freehold March 07, 2018 2,788 3,780,000 - 1,355 1998 ResaleCHUN TIN ROAD Terrace Freehold March 09, 2018 1,851 2,800,000 - 1,517 1972 ResaleSUMMERHILL Condominium Freehold March 08, 2018 1,604 1,990,000 - 1,241 2002 ResaleTHE BEVERLY Apartment Freehold March 13, 2018 1,130 1,490,000 - 1,318 2012 ResaleTHE BLOSSOMVALE Condominium 999 years March 08, 2018 840 1,335,000 - 1,590 1998 ResaleTHE BLOSSOMVALE Condominium 999 years March 09, 2018 840 1,362,000 - 1,622 1998 ResaleTHE HILLFORD Apartment 60 years March 07, 2018 506 590,000 - 1,166 2016 ResaleTRANQUILIA @ KISMIS Terrace Freehold March 10, 2018 4,456 3,550,000 - 797 Uncompleted New SaleDistrict 22 THE LAKESHORE Condominium 99 years March 09, 2018 861 940,000 - 1,092 2007 ResaleTHE MAYFAIR Condominium 99 years March 12, 2018 1,163 995,000 - 856 2000 ResaleDistrict 23 GLENDALE PARK Condominium Freehold March 09, 2018 1,313 1,500,000 - 1,142 2000 ResaleGUILIN VIEW Condominium 99 years March 08, 2018 861 755,000 - 877 2000 ResaleHILLINGTON GREEN Condominium 999 years March 09, 2018 1,356 1,480,000 - 1,091 2002 ResaleHILLINGTON GREEN Condominium 999 years March 09, 2018 1,528 1,710,000 - 1,119 2002 ResaleHILLION RESIDENCES Apartment 99 years March 07, 2018 463 768,000 - 1,659 2017 Sub SaleHILLSTA Condominium 99 years March 09, 2018 538 615,000 - 1,143 2016 ResaleHILLVIEW REGENCY Condominium 99 years March 08, 2018 969 820,000 - 846 2005 ResaleHILLVIEW REGENCY Condominium 99 years March 09, 2018 904 800,000 - 885 2005 ResaleMERALODGE Condominium Freehold March 09, 2018 1,776 1,700,000 - 957 1997 ResaleELIZABETH DRIVE Terrace Freehold March 08, 2018 3,218 2,450,000 - 761 Unknown ResalePARK NATURA Condominium Freehold March 08, 2018 1,819 2,080,000 - 1,143 2011 ResalePARK NATURA Condominium Freehold March 09, 2018 1,776 2,120,000 - 1,194 2011 ResaleYEW MEI GREEN EC 99 years March 08, 2018 1,335 915,000 - 686 2000 ResaleDistrict 25 NORTHWAVE EC 99 years March 09, 2018 1,270 1,021,000 - 804 Uncompleted New SaleNORTHWAVE EC 99 years March 09, 2018 1,130 834,100 - 738 Uncompleted New SaleNORTHWAVE EC 99 years March 11, 2018 893 768,000 - 860 Uncompleted New SaleROSEWOOD SUITES Condominium 99 years March 07, 2018 1,259 1,000,000 - 794 2011 ResaleWOODHAVEN Condominium 99 years March 13, 2018 624 650,000 - 1,041 2015 ResaleDistrict 26 FOREST HILLS CONDOMINIUM Condominium 99 years March 08, 2018 1,044 838,000 - 803 2003 ResaleMEADOWS @ PEIRCE Condominium Freehold March 07, 2018 2,583 2,480,000 - 960 2012 ResaleMUN WAH GARDEN Semi-Detached Freehold March 13, 2018 3,703 3,335,000 - 901 1995 ResaleMANDAI ROAD Semi-Detached Freehold March 09, 2018 2,174 2,450,000 - 1,126 1997 ResaleTHONG SOON ROAD Terrace Freehold March 09, 2018 1,765 2,060,000 - 1,164 1976 ResaleTHE BROOKS I Apartment Freehold March 12, 2018 818 1,098,165 - 1,342 2016 ResaleTHE SPRINGSIDE Terrace Freehold March 09, 2018 3,068 3,890,000 - 1,267 2016 ResaleTHE SPRINGSIDE Terrace Freehold March 12, 2018 1,744 2,733,000 - 1,567 2016 ResaleDistrict 27 SIGNATURE AT YISHUN EC 99 years March 08, 2018 1,098 861,500 - 785 2017 New SaleSIGNATURE AT YISHUN EC 99 years March 09, 2018 1,098 919,500 - 837 2017 New SaleSIGNATURE AT YISHUN EC 99 years March 09, 2018 1,098 907,500 - 827 2017 New SaleSIGNATURE AT YISHUN EC 99 years March 09, 2018 1,098 925,500 - 843 2017 New SaleSIGNATURE AT YISHUN EC 99 years March 09, 2018 1,098 913,000 - 832 2017 New SaleSIGNATURE AT YISHUN EC 99 years March 10, 2018 1,098 923,500 - 841 2017 New SaleTHE BROWNSTONE EC 99 years March 07, 2018 915 823,500 - 900 2017 New SaleTHE CRITERION EC 99 years March 08, 2018 1,076 819,200 - 761 2018 New SaleTHE CRITERION EC 99 years March 11, 2018 1,119 1,055,200 - 943 2018 New SaleTHE ESTUARY Condominium 99 years March 08, 2018 1,453 1,350,000 - 929 2013 ResaleTHE SHAUGHNESSY Terrace 99 years March 12, 2018 3,283 1,500,000 - 457 2006 ResaleDistrict 28 BELGRAVIA VILLAS Terrace Freehold March 10, 2018 3,584 3,100,890 - 865 Uncompleted New SaleUPPER NERAM ROAD Semi-Detached 999 years March 09, 2018 3,670 4,180,000 - 1,138 Unknown ResaleNIM COLLECTION Terrace 99 years March 11, 2018 3,046 3,388,000 - 1,112 Uncompleted New SalePARC BOTANNIA Condominium 99 years March 07, 2018 506 663,000 - 1,311 Uncompleted New SalePARC BOTANNIA Condominium 99 years March 08, 2018 506 680,000 - 1,344 Uncompleted New SalePARC BOTANNIA Condominium 99 years March 09, 2018 506 657,000 - 1,299 Uncompleted New SalePARC BOTANNIA Condominium 99 years March 11, 2018 592 823,000 - 1,390 Uncompleted New SaleRIVERBANK @ FERNVALE Condominium 99 years March 08, 2018 495 585,000 - 1,181 2017 Sub SaleSELETAR SPRINGS CONDOMINIUM Condominium 99 years March 08, 2018 1,335 933,000 - 699 2000 ResaleSERENITY PARK Condominium Freehold March 12, 2018 1,098 1,188,888 - 1,083 1995 Resale

DONE DEALS

DISCLAIMER:Source: URA Realis. Updated March 20, 2018. The Edge Property Pte Ltd shall not be responsible for any loss or liability arising directly or indirectly from the use of, or reliance on, the information provided therein.

EC stands for executive condominium

GAINS AND LOSSES


First transaction at St Regis Residences this year results in $2 mil loss

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Top 10 gains and losses from March 6 to 13

URA,

EDG

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Most profi table deals PROJECT DISTRICT AREA (SQ FT) SOLD ON (2018) SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) PROFIT ($) PROFIT (%) ANNUALISED PROFIT (%) HOLDING PERIOD (YEARS)

1 The Suites at Central 9 1,808 March 8 2,240 July 17, 2006 1,568 1,213,623 43 3 11.6

2 Richmond Park 9 1,012 March 9 2,767 Oct 27, 2006 1,641 1,140,000 69 5 11.4

3 La Suisse 11 1,679 March 9 1,072 March 17, 2003 405 1,120,000 165 7 15.0

4 Landbridge Condominium 5 1,894 March 8 1,135 Sept 5, 2000 596 1,020,000 90 4 17.5

5 The Waterina 14 1,335 March 12 1,199 June 5, 2007 568 842,000 111 7 10.8

6 Fortune Jade 15 1,098 March 8 1,384 Dec 19, 2001 635 823,119 118 5 16.2

7 The Blossomvale 21 840 March 8 1,590 Oct 17, 2006 619 815,000 157 9 11.4

8 Grandeur 8 20 1,453 March 12 1,067 July 4, 2003 514 803,760 108 5 14.7

9 UE Square 9 710 March 12 1,689 Aug 5, 1999 641 744,950 164 5 18.6

10 Crescendo Park 15 1,432 March 12 1,153 April 1, 1995 643 730,000 79 3 23.0

PROJECT DISTRICT AREA (SQ FT) SOLD ON (2018) SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) LOSS ($) LOSS (%) ANNUALISED LOSS (%) HOLDING PERIOD (YEARS)

1 St Regis Residences Singapore 10 1,507 March 12 2,442 July 19, 2007 3,771 2,003,040 35 4 10.7

2 8 Napier 10 2,013 March 8 3,130 Dec 3, 2007 3,589 925,000 13 1 10.3

3 The Vermont On Cairnhill 9 1,432 March 9 2,130 April 20, 2010 2,584 650,000 18 2 7.9

4 Sanctuary Green 15 1,141 March 12 1,096 Dec 7, 2012 1,227 150,000 11 2 5.3

5 Trevista 12 1,141 March 7 1,113 Sept 4, 2012 1,227 130,000 9 2 5.5

6 Heritage Residences 15 441 March 12 1,235 July 5, 2011 1,432 87,000 14 2 6.7

7 Eastpoint Green 18 958 March 9 807 Nov 9, 2011 880 70,000 8 1 6.3

8 Espira Residence 15 1,550 March 8 835 Feb 13, 2012 871 55,000 4 1 6.1

9 Carissa Park Condominium 17 926 March 9 830 April 14, 2011 870 37,000 5 1 6.9

10 Spottiswoode Residences 2 797 March 8 1,955 Dec 13, 2010 1,994 30,500 2 0.3 7.2

Note: Computed based on URA caveat data as at March 20 for private non-landed houses transacted between March 6 and 13. The profit-and-loss computation excludes transaction costs such as stamp duties.

PROJECT DISTRICT AREA (SQ FT) SOLD ON (2018) SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) LOSS ($) LOSS (%) ANNUALISED LOSS (%) HOLDING PERIOD (YEARS)DISTRICT SOLD ON (2018) BOUGHT ON LOSS ($) ANNUALISED LOSS (%)

Non-profi table deals

| BY BONG XIN YING |

The first transaction at St Regis

Residences this year turned

out to be the most unprof-

itable deal in the week of

March 6 to 13, as revealed

by the matching of URA caveat data

as at March 20. A 1,507 sq ft, three-

bedroom unit on the 13th floor of

the luxury project was sold for $3.68

million ($2,442 psf) on March 12 re-

sulting in a $2.03 million (35%) loss

for the previous owner, who

purchased it for $5.68 million

($3,771 psf) in 2007.

Completed in 2008, St Re-

gis Residences is a 999-year

leasehold project on Tanglin

Road in prime District 10.

It has 173 apartments and

is located near the Orchard

Road shopping belt, where

the closest malls include Tan-

glin Shopping Centre and

Tanglin Mall. The transac-

tion on March 12 is the lat-

est in a spate of unprofitable

deals at the condominium.

Last year, 10 units changed

hands at an average loss of

$1.13 million (20%) The only

profitable transaction in 2017

was the sale of a 3,757 sq ft

unit for $190,000 (2% prof-

it) on Nov 28.

Also in the prime district is

freehold condominium 8 Napier,

where the seller of a 2,013 sq ft,

three-bedroom unit incurred a

$925,000 (13%) loss on March

8. The unit on the seventh floor was

purchased in 2007 for $7.22 million

($3,589 psf) and sold for $6.3 million

($3,130 psf). There has been only one

profitable transaction at 8 Napier on

record: In 2017, a three-bedder fetched

a profit of $93,945; it was bought at

$7.24 million ($3,595 psf) in 2007 and

sold for $7.33 million ($3,642 psf).

The most profitable transaction

during the week under review was

the sale of a four-bedroom unit at

The Suites at Central for $4.05 mil-

lion ($2,240 psf) on March 8. Hav-

ing bought the 1,808 sq ft condo for

$2.83 million ($1,568 psf) in 2006,

the seller made a $1.21 million (43%)

profit. This is the highest profit for

units sold at the development since

2012. In 2017, there were four prof-

itable transactions with an average

profit of $734,735 (28%)

Located in prime District 9 with-

in walking distance of the Somerset

MRT station, The Suites at Central

has seen only one unprofitable trans-

action since 2014, where the

seller of a 1,475 sq ft unit suf-

fered a $110,000 (4%) loss in

September last year.

At the freehold Richmond

Park in the same district, the

previous owner of a 1,012 sq

ft unit made the second largest

profit in the week under re-

view. Bought at $1.66 mil-

lion ($1,641 psf) in 2006, the

property fetched a $1.14 mil-

lion (69%) profit when it was

sold for $2.8 million ($2,767

psf) on March 9.

All three transactions at the

159-unit Richmond Park this

year have resulted in profit for

the sellers. The most profita-

ble one was on Feb 1, when

the seller of a 1,550 sq ft unit

made a $2.22 million (97%)

profit. He paid $2.28 million

($1,471 psf) for it in 2001 and

sold it for $4.5 million ($2,903

psf). Richmond Park was com-

pleted in 1996 and is adjacent

to The Paragon mall.

Bought at $5.68 million, a 1,507 sq ft unit on the 13th floor at St Regis Residences was sold for $3.68 million on March 12

The Suites at Central recorded the highest profit since 2012

PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE

E

DEAL WATCH


| BY ANGELA TEO |

A three-bedroom-plus-study unit of 1,679 sq ft at the

99-year leasehold Quinterra on Holland Road is up

for sale, with an asking price of $2 million ($1,191

psf). “The Singaporean owners are selling the unit

with vacant possession, as they have upgraded to a

larger property,” says Fanny Goh, associate group director at

Orange Tee & Tie, who is handling the sale.

Located on the second floor, the unit has an en suite mas-

ter bedroom. The study in the master bedroom has been con-

verted into a walk-in wardrobe, says Goh. The unit also has a

Three-bedder at Quinterra on

Holland Road for sale at $2 mil

Similar units of 1,600 to 1,700 sq ft at Quinterra fetched monthly rents of between $4,300 and $6,500 from 2016 to 2017

ALBERT CHUA/THE EDGE SINGAPORE

Recent rental contracts for 1600 to 1700 sq ft

units at Quinterra

LEASE DATE MONTHLY RENT ($) February 2017 5,600

September 2016 4,900

August 2016 4,800

MONTHLY RENT ($)

5,600

4,900

4,800

Recent transactions at Quinterra

CONTRACT DATE AREA (SQ FT) PRICE ($) PRICE ($ PSF)

Dec 13, 2017 1,184 1,270,000 1,073Nov 21, 2017 1,787 2,350,000 1,315Oct 20, 2017 1,787 2,250,000 1,259

TABLES: URA, EDGEPROP

north-facing main door and an east-facing balcony.

Similar three-bedroom units of 1,600 to 1,700 sq ft at Quin-

terra fetched monthly rents of between $4,300 and $6,500 from

2016 to 2017. This works out to a potential rental yield of 2.6%

to 3.9%, based on the asking price of $2 million.

In June and October 2017, two 1,679 sq ft units on the sec-

ond and third floors were sold at $1.9 million ($1,132 psf) each.

Goh notes that the $2 million asking price for the unit on the

market is negotiable.

The 55-unit Quinterra in prime District 10 was completed

in March 2009. It comprises an 18-storey block and is next to

the quiet, landed residential enclave of Mount Sinai and near

the landed homes at Holland Grove. About 650m away is Jel-

ita Shopping Centre, with amenities such as Cold Storage su-

permarket, Guardian pharmacy and International Medical Clin-

ic. Also nearby is the lifestyle enclave of Holland Village and

Chip Bee Gardens, known for F&B offerings such as ramen

restaurant Sanpoutei.

Quinterra is located within 1km of Henry Park Primary School.

Other institutions nearby include Nexus International School

(Singapore), Eunoia Junior College, Singapore Polytechnic, the

National University of Singapore, Yale-NUS College and INSEAD.

Developed by Singapore-listed property group Ho Bee

Land, Quinterra was launched in July 2006 and fully sold

within a year. E


PROP HUNT

$2,080,000 Terrace HouseKEW AVENUE | 99 yearsBuilt-Up(sqft): 3,000 | Land(sqft): 1,765PSF: $1,178

$22,000/mth Detached HouseWHITLEY ROAD | FreeholdBuilt-Up(sqft): 7,100 | Land(sqft): 81,300PSF: $3

$12,000/mth Detached HouseHOLLAND GROVE ROAD | FreeholdBuilt-Up(sqft): 3,700 | Land(sqft): 7,500PSF: $2

$2,500,000 Semi-Detached House JALAN KERAYONG | FreeholdBuilt-Up(sqft): 1,300 | Land(sqft): 2,661PSF: $939

$2,700,000 Terrace HouseSPRINGSIDE DRIVE | FreeholdBuilt-Up(sqft): 3,000 | Land(sqft): 1,847PSF: $1,462

$4,000,000 Detached House BEECHWOOD GROVE | 99 yearsBuilt-Up(sqft): 6,000 | Land(sqft): 6,135PSF: $652

$4,900/mth Terrace HouseMOULMEIN ROAD | FreeholdBuilt-Up(sqft): 1,770 | Land(sqft): 1,770PSF: $3

$7,000,000 Detached HouseSERANGOON GARDEN ESTATEBuilt-Up(sqft): 6,100 | Land(sqft): 4,640PSF: $1,509

$4,500,000 Terrace House SWISS VIEW | 999 yearsBuilt-Up(sqft): 4,184 | Land(sqft): 4,010PSF: $1,122

$7,000,000 Detached HouseUPPER EAST COAST ROAD | FreeholdBuilt-Up(sqft): 8,000 | Land(sqft): 4,455PSF: $1,571

$5,300,000 Semi-Detached HouseSURIN LANE | FreeholdBuilt-Up(sqft): 4,500 | Land(sqft): 4,216PSF: $1,257

3-storey inter terrace house. 5-bedroom plus

utility room. Simple and well kept. Functional

spacious layout. Wet and dry kitchen. Serene living

environment.

Stunning black and white bungalow + refurbished

pool deck + huge garden. 1 huge house + 3 annexes.

4 rms + 4 rms + 1 helper rm. 3 huge living halls that

links up, ideal for entertainment.

2-storey with deck pool and outdoor patios. High

ground. 4 spacious ensuite rooms + family area +

maid room + mature garden. Walk to Jelita Cold

Storage, Star Vista Mall and Ghim Moh Market.

Near Buona Vista MRT.

Single storey. 13m wide frontage. Great potential for

A&A or rebuild to 3.5-storey.

If you have a penchant for the finer things in life,

look no further. Walking into this regal house with

bespoke interiors, you will be immediately taken by

the beauty and aura of elegance within.

3-storey bungalow with pool. Near Singapore

American School. Lots of space and yet close enough

for local amenities - short walk to Supermarkets,

eateries and Marsiling MRT Station.

Near Novena Mall and Goldhill Plaza. Quiet

surroundings. Very convenient with nearby Novena

MRT and Farrer Park MRT. Near good schools and

restaurants. 2 MRT stops to Orchard Road.

Walking distance to food centre. 2.5-storey. Private

lift. Newly built in 2012. Quality natural marble slab

feature-wall & bathroom. Park 2 cars.

2-sorey corner with basement. Wet & dry kitchen.

Spacious with private garden. Close to Swiss Club,

Turf City, German European School. Mins to PIE.

Rectangular land. Main door SE facing. A/A done.

Big and spacious designer decor finished. Huge wet

and dry kitchen. All room ensuite. Swimming pool

with pool bar. Lift to service all floors. Roof terrace

with unblocked view. Park 5 cars easily.

Beautiful 2-storey semi-detached house near Kovan

MRT station. Lovely gardens. Dual entrances. Can

park 2 cars. 100% move in condition.

Scan QR code for more details

Esther Kan HUTTONS ASIA PTE LTDR008333C

65 9738 5952

Michelle Chua PROPNEX REALTY PTE LTDR047671H

65 9069 1188

Wendy Liew CS 2000 HOUSING PTE LTDR000054C

65 9855 5801

David Wang ERA REALTY NETWORK PTE LTDR024023D

65 9025 0911

Properties for Sale & LeaseTo be featured, email [email protected] or call 9855-5282

Landed

Cecilia Choo HUTTONS ASIA PTE LTDR007340J

65 9145 3396

Nick Tan SRI PTE LTDR040814C

65 9644 4854

$6,888,000 Detached HouseKINGSWEAR AVENUEBuilt-Up(sqft): 6,100 | Land(sqft): 4,648PSF: $1,482

2.5-storey detached house. 6+1 bedrooms with

attached toilets. Modern design. Unique natural

marble feature-wall. Quality furnishing. Unblocked

balcony view.

Serene Chua CBRE REALTY ASSOCIATES PTE LTDR024344F

65 9819 9199

Marcus Ng PROPNEX REALTY PTE LTDR009386Z

65 9327 4485

Han Sen Heng SRI PTE LTDR042735J

65 8318 8966

Estella Khoo NBI REALTY LLP R002454Z

65 9100 2299

Nellie Lim ERA REALTY NETWORK PTE LTDR054010F

65 9625 5518

Lelia Lim SMP REALTY PTE. LTD.R018565I

65 9862 2528


PROP HUNT


Eric Gan IMPERIAL REAL ESTATE PTE LTDR003804D

65 8448 4949

Teck Wah Chan ERA REALTY NETWORK PTE LTDR058526F

65 9873 8102

$650,000 Space @ KovanYIO CHU KANG ROAD, 545679 SingaporeFreehold | Bedroom: 1Size(sqft): 431 | PSF: $1,508

$2,300,000 Caribbean At Keppel BayKEPPEL BAY DRIVE, 98657 Singapore99 years | Bedroom: 3Size(sqft): 1,421 | PSF: $1,619

$1,380,000 Sea EstaPASIR RIS LINK, 518156 Singapore99 years | Bedroom: 3Size(sqft): 1,227 | PSF: $1,125

$730,000 Euphony GardensJALAN MATA AYER, 759155 Singapore99 years | Bedroom: 2Size(sqft): 1,076 | PSF: $678

$1,800,000 OUE Twin PeaksLEONIE HILL ROAD, 239197 Singapore99 Years | Bedroom: 1Size(sqft): 570 | PSF: $3,158

$1,890,000 EchelonALEXANDRA VIEW, 158742 Singapore99 years | Bedroom: 3Size(sqft): 1,001 | PSF: $1,888

$1,760,000 Symphony HeightsHUME AVENUE, 598739 SingaporeFreehold | Bedroom: 3Size(sqft): 1,410 | PSF: $1,248

$1,310,000 Hillside MansionsHILLSIDE DRIVE, 548945 SingaporeFreehold | Bedroom: 3Size(sqft): 1,194 | PSF: $1,097

$1,990,000 IvoryCEYLON LANE, 423468 SingaporeFreehold | Bedroom: 3Size(sqft): 1,862 | PSF: $1,069

$638,000 Central ImperialLORONG 14 GEYLANG, 398915 SingaporeFreehold | Bedroom: 2Size(sqft): 505 | PSF: $1,263

1-bedroom unit located just off Serangoon Road.

Very well maintained. 11 mins walk to Serangoon

MRT station. 6 mins walk to Serangoon Active SG

Stadium. Priced to sell.

3-bedroom unit for ground floor and balcony

lovers. Good size patio. Proper yard area for

laundry. Selling with tenancy.

Rare dual key layout. Ideal for own stay and

investment. High floor unit with an unblocked view

of the pool.

2-bedroom + storeroom + balcony. Spacious living/

dining area. Bright and breezy. Nice layout. Near lots

of amenities. Full condo facilities.

Great location. High floor. Ideal layout. Big living,

dining & kitchen areas. It is just walking distance

away from Orchard MRT station.

A very well renovated unit with clever design in

usage of space. Balcony with an English colour

scheme. Walking to Redhill MRT station and

amenities is a breeze.

Freehold spacious 3-bedroom with maid room

and balcony. North orientation. Pleasant move In

condition. Bright and windy. Walking distance to

Hillview MRT station and malls.

Spacious 3-bedroom + balcony unit. Nicely

renovated with new kitchen, bathrooms, lightings,

air cons and curtains.

Nestled in the much sought after Distict 15.

Unblocked view of Marina Bay Sands. Walking

distance to the Katong foodie scene. Fully renovated

and well maintained.

Near to city fringe and mins walk to MRT station.

Easy access to PIE, KJE, MCE & ECP. High level

with balcony. Price negotiable.

To be featured, email [email protected] or call 9855-5282

Esther Teo PROPNEX REALTY PTE LTDR059017J

65 9072 1975

Prescealla Ong ERA REALTY NETWORK PTE LTDR024120F

65 9680 5383

Properties for Sale

$1,480,000 EspadaST. THOMAS WALK, 238126 SingaporeFreehold | Bedroom: 1Size(sqft): 560 | PSF: $2,643

1-bedroom unit on high floor. Tastefully renovated.

Big living and dinning areas. Well maintained.

Minutes walk to Somerset MRT station.

Condominium

Susie Chew ORANGETEE & TIE PTE LTDR025780C

65 9633 0494

Daniel GohPROPNEX REALTY PTE LTDR018994H

65 9681 1911

Angela Ng HUTTONS ASIA PTE LTDR042000C

65 9886 6220

Paul Fam ERA REALTY NETWORK PTE LTDR007736H

65 8100 2280


65 9644 4854

$1,168,888 Riversound ResidenceSENGKANG EAST AVENUE, 544813 Singapore99 Years | Bedroom: 4Size(sqft): 1,163 | PSF: $1,005

Located in one of the best stacks of the

development. Tastefully renovated and very well

maintained. Bright and well ventilated unit with no

afternoon sun.


65 9644 4854

Ronald Pang DISTRICT 65 PTE LTDP000831E

65 9772 6543

Paul Fam ERA REALTY NETWORK PTE LTDR007736H

65 8100 2280


PROP HUNT


$6,000/mth LHK Building - Factory For RentalSIMS DRIVE, 387383 SingaporeFreehold | Size(sqft): 3,153 | PSF: $2

$1,600/mth 325 Woodlands Street 32 - Shop For RentalWOODLANDS STREET 32, 730325 SingaporeSize(sqft): 200 | PSF: $8

$3,400/mth Illuminaire on DevonshireDEVONSHIRE ROAD, 239900 SingaporeFreehold | Bedroom: 2Size(sqft): 635 | PSF: $6

$2,600/mth Chelsea GroveMARTABAN ROAD, 328626 SingaporeFreehold | Bedroom: 2Size(sqft): 990 | PSF: $3

$3,500/mth Spring GroveGRANGE ROAD, 249567 Singapore99 years | Bedroom: 2Size(sqft): 1,012 | PSF: $3

$2,100/mth The TembusuTAMPINES ROAD, 535129 SingaporeFreehold | Bedroom: 1Size(sqft): 484 | PSF: $4

$2,700/mth Rezi 26LORONG 26 GEYLANG, 398505 SingaporeFreehold | Bedroom: 2Size(sqft): 840 | PSF: $3

$2,600/mth Hillview RegencyBUKIT BATOK EAST AVENUE 2, 659921 Singapore99 years | Bedroom: 2Size(sqft): 969 | PSF: $3

$500,000 162 Bukit Merah Central - Shop House For SaleBUKIT MERAH CENTRAL, 150162 Singapore30 years | Size(sqft): 840 | PSF: $595

$58,225/mth Tong Building - Office For RentalORCHARD ROAD, 238862 SingaporeFreehold | Size(sqft): 6,850 | PSF: $9

Partial fitted with washroom in the unit. New coat

of paint.

Provision shop with yellow box. Good human

traffic area. Shop space front and back are open-

air carparks. Area loaded with 2 big coffee shops.

7-11, hair & beauty salons, pizza take away, clinic.

Walking distance to Woodlands & Marsiling MRT.

District 9 expat's choice unit. High floor. Serene

and tranquil surroundings. Walking distance to

Somerset MRT, Orchard shopping mall. Fully

furnished. Immediate and flexible lease.

2 spacious room with 2 toilets. Fully furnished.

Minutes to Novena MRT station. Opposite Shaw

Plaza, Balestier Plaza, Blestier market and eatries.

Walk to Gobal Indian International School. Mins to

Orchard Road.

Great for corporate image. Surrounded by amenities

and 5 mins to Orchard & Somerset MRT. Single level

floor plate. Flexibility to subdivide into smaller units.

High floor with unblocked view of orchard road.

Newly painted 2-bedroom unit with balcony.

Partially furnished. Bright and breezy. Quiet facing.

Full condo facilities.

Short walk to Kovan MRT station. High floor unit.

Near to amenities such as NTUC, Heartland Mall

& Cold Storage. Many famous eateries nearby. Full

facilities including tennis court. Lifestyle living.

Penthouse maisonette. 2 ensuite bedrooms. North

facing. No noon sun. Pool and gym. 8 mins walk

to Aljunied MRT station. Walk to eateries and food

centre.

2+1 with facility area and balcony. Designer's decor.

Nice and cosy. Face greenery, bright and windy.

Available on 1 April 2018.

Good frontage, facing the road. Near Bukit Merah

Hawker centre & NTUC FairPrice. Ample carpark

lots nearby. Good lunch crowds & church crowds on

Sat/Sun. New renovation for salon business.

To be featured, email [email protected] or call 9855-5282

Properties for Sale and Lease Condominium Business Space

$2,700/mth Ivory HeightsJURONG EAST STREET 13, 600124 Singapore99 years | Bedroom: 3Size(sqft): 1,614 | PSF: $2

$11,800/mth Skyline @ Orchard BoulevardANGULLIA PARK, 239975 SingaporeFreehold | Bedroom: 4Size(sqft): 2,067 | PSF: $6

Spacious unit on a very high floor. Unblocked

view of Chinese Garden. Very windy. Direct bus to

NUS (20 mins) and One-North (25mins). Walking

distance to JEM, Westgate, JCube.

Spacious and bright unit. Luxury at the doorstep.

Walking distance to Orchard MRT station.

Near medical centers, International schools

and American and Tanglin Clubs.

Wendy Liew CS 2000 HOUSING PTE LTDR000054C

65 9855 5801

Adam Wang FER PROPERTIES PTE LTDR011629J

65 9338 6502


65 9145 3396


65 9145 3396

David Wang ERA REALTY NETWORK PTE LTDR024023D

65 9025 0911

Irene Leong KONG QUST REALTY (S) PTE LTDR008569G

65 9855 4903

Marcus Ng PROPNEX REALTY PTE LTDR009386Z

65 9327 4485

Ronald Pang DISTRICT 65 PTE LTDP000831E

65 9772 6543

Michael Wong HUTTONS ASIA PTE LTDR006996I

65 8838 6969

Michelle Chua PROPNEX REALTY PTE LTDR047671H

65 9069 1188


65 9100 2299


65 9100 2299

Documents

A Good Class Bungalow on Old Holland Road offers a … · EP4&5 Done Deals Prices of new luxury condos in prime districts to hit $3,500 psf EP8 Gains and Losses First deal at St Regis