A PULLOUT WITH
MCI (P) 056/03/2017 PPS 1519/09/2012 (022805)
Visit TheEdgeProperty.com to find properties, research market trends and read the latest news THE WEEK OF APRIL 17, 2017 | ISSUE 775
M A K E B E T T E R D E C I S I O N S
Luxury of spaceIn addition to having a childcare centre, supermarket and an MRT station
at their doorstep, homebuyers value a spacious living area. Artra at Alexandra, by Far East Consortium and New World Development, is
designed to meet those needs. See our Cover Story on Pages 6 and 7.
Special EventSingapore housing market
to stay resilient despite global uncertainties EP10
Market TrendsPreview of
Seaside Residencesdraws 5,000 EP4
Done DealsSurge in sales in
Alexandra-Queenstown neighbourhood EP12
Gains & LossesCondominiums soldwith million-dollar
profi ts EP15
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EP2 • THEEDGE SINGAPORE | APRIL 17, 2017
Rio Casa put up for en bloc saleRio Casa (above, left), a privatised HUDC
estate, has been put up for sale by ten-
der. The owners are expecting offers of
more than $450.8 million for the rede-
velopment site, which translates into
a land price of about $586 psf per plot
ratio (ppr).
The asking price includes a top-up
premium of about $57.5 million for a
fresh 99-year lease, as well as a differ-
ential premium of about $141.5 million
for intensification of the site.
Located on Hougang Avenue 7, Rio
Casa comprises seven residential blocks
totalling 286 apartment and maisonette
units. Under the Master Plan 2014, the
396,231 sq ft site is zoned for residen-
tial use with a gross plot ratio of 2.8.
The maximum permissible gross floor
are (GFA) is about 1.11 million sq ft.
Knight Frank is the appointed mar-
keting agent for the sale of Rio Casa.
The tender closes on May 23.
CDL has sold 81 units at Gramercy Park City Developments has sold 75%, or 81,
of the 107 units that it has launched for
sale at its freehold Gramercy Park res-
idential development (above, right) lo-
cated on Grange Road.
Of the 81 units sold, 70 are in the
North Tower, which was launched for
sale under Phase 1 in May 2016 at an
average price of more than $2,600 psf.
CDL says all two-bedroom + study units
have been sold, while the take-up rate
for three- and four-bedroom units has
been good. One of the units sold was
the second-largest penthouse in the
North Tower. The 5,533-sq ft, five-bed-
room property was sold to a foreigner
in March this year for $16.88 million
($3,050 psf). The largest penthouse is
a 7,287 sq ft, five-bedroom unit and it
is going for $23 million.
The other 11 units sold are part of
the 20 units in the South Tower that
CDL released for sale under Phase 2 on
March 30. CDL says it has increased the
average selling price from over $2,600
psf to about $2,800 psf for the Phase 2
launch. CDL has also offered early-bird
prices, which start from $3.4 million for
a two-bedroom + study unit, $5.1 mil-
lion for a three-bedroom unit and $6.8
million for a four-bedroom unit.
Both North and South Towers are iden-
tical and have a total of 87 units each.
According to CDL, 24% of the buy-
ers are Singaporeans, with the remain-
der comprising Singapore permanent
residents and foreigners from China,
Hong Kong, Taiwan, Malaysia, Indone-
sia, India, the US, the UK and France.
Tuan Sing Holdings buys Sime Darby Centre for $365 milTuan Sing Holdings is buying Sime Dar-
by Centre in Bukit Timah for $365 mil-
lion. The property, which is located at
896 Dunearn Road, sits on a 140,886 sq
ft commercial site that is part freehold
and part 999-year leasehold.
The site has an allowable gross plot
ratio of 1.8 and a maximum permissible
GFA of 253,595 sq ft. It is 96% occupied
and has a net lettable area of 202,712
sq ft. The tenants include kitchenware
retailer ToTT, Scanteak, Cold Storage
and ChildFirst pre-school.
New York-based private equity giant
Blackstone Group is said to have bought
a 70% stake in Sime Darby Centre for
just under $200 million last year from
Malaysian conglomerate Sime Darby
Bhd. Tuan Sing’s purchase would mean
Blackstone pocketed a gain of about
25% from its investment.
In a filing with the Singapore Ex-
change, Tuan Sing says it expects to
complete the deal in about 10 weeks.
It plans to “reposition the property into
a hub of activities”.
Retail rents show signsof stabilisationRetail rents are showing signs of stabi-
lisation, with gross rents for first-sto-
rey retail space in the Orchard/Scotts
Road area remaining unchanged q-o-q
at $37.20 psf per month in 1Q2017,
according to a report released by Ed-
mund Tie & Co.
The decline in first-storey retail rents
at Raffles Place, City Hall, Tanjong Pa-
gar, Shenton Way and Bugis has also
moderated to 0.6% q-o-q in 1Q2017.
ET & Co says the stabilisation of rents
comes on the back of higher visitor ar-
rivals and stronger retail sales in 2016.
According to preliminary estimates from
the Singapore Tourism Board in Febru-
ary, tourist arrivals grew 7.7% y-o-y to
16.4 million and tourism receipts rose
13.9% y-o-y to $24.8 billion. Retail oc-
cupancy across the island also improved
towards end-2016, reaching 91.5% in
4Q2016 from 90.6% in 3Q2016.
Rents for first-storey retail space
at suburban malls also remained un-
changed q-o-q in 1Q2017 at $30.60 psf
per month. ET & Co says suburban malls
are relying more on their F&B tenants
to support their revenue.
ET & Co expects retail rents to re-
main under pressure from the external
environment and continued growth of
e-commerce.
Plum site in Queenstown triggered for saleA residential site on Stirling Road, next to
Queens condominium, will be launched
for sale by tender in about two weeks.
According to URA, a developer has trig-
gered the site for tender by committing
to a minimum bid of $685,250,000, or
$718 psf ppr.
“It is interesting to note that this site
has been available on the Reserve List
for the past seven years and was not
triggered for sale until today,” says Nich-
olas Mak, executive director, research
and consultancy, at SLP International
Property Consultants. “A likely reason
could be due to its large size and the
large financial commit-
ment needed.”
According to URA, the
site is 227,221 sq ft and
can yield a maximum GFA
of 954,327 sq ft. The de-
velopment is expected to
yield an estimated 1,110
non-landed housing units.
The successful bidder
is required to employ the
Prefabricated Prefinished
Volumetric Construction
method, says URA. It will
also have to provide an in-
fant care and/or a child
care centre with a minimum GFA of
5,381 sq ft.
The latest condo launched for sale in
the area was the 736-unit Queens Peak.
The land parcel on which Queens Peak
sits was sold in June 2015 at $871 psf
ppr. The most recent Government Land
Sales (GLS) tender in the area was for
the site on Margaret Drive. It was sold
in December 2016 for $997.85 psf ppr.
Desmond Sim, CBRE’s head of re-
search for Singapore and Southeast
Asia, expects interest in the site to be
healthy, with between eight and 10
bids submitted. “Bids are expected to
come mostly from the major players,
who may team up with other parties
in view of the quantum and large site,”
he says. Mak believes the top bid in the
tender for this site could range from
$860 million to $910 million ($901 to
$954 psf ppr).
Toh Tuck Road site receives 24 bidsThe tender for a residential site on Toh
Tuck Road drew a total of 24 bids. It was
the second-highest number of bids re-
ceived historically for a private residen-
tial site launched under the GLS pro-
gramme. The highest number of bids
received — 32 — was for a site on West-
wood Avenue in Jurong West which
was developed into The Woods condo.
The highest bid of $265 million for
the Toh Tuck Road site came from SP
Setia International. The price works out
to $939 psf ppr, just 2% higher than the
next highest bid by Singhaiyi Investments.
The site can yield 325 residential units.
“It is a bewildering tender with 24
parties contesting and a top bid of $939
psf ppr, which is well above expecta-
tions,” says Ong Teck Hui, JLL nation-
al director, research and consultancy.
Ong says the aggressive bidding could
be due to the recent easing of cooling
measures and the positive reading of
the 1Q2017 flash estimates.
Notably, the top bid of $939 psf ppr
was just 6% below the $998 psf ppr that
MCL Land paid for a residential site on
Margaret Drive in the Queenstown area
in December 2016. The break-even price
for the Toh Tuck Road site is estimat-
ed to be $1,400 to $1,500 psf, which
translates into a selling price of more
than $1,600 psf.
Consortium led by Heeton Holdings appoints Hilton to manage its UK hotelHeeton Holdings, KSH Holdings, Lian
Beng Group and Ryobi Kiso Holdings
have appointed international hotel chain
operator Hilton to manage their new
192-bedroom hotel (above) in Leeds,
the UK. The hotel will be operated un-
der the Hampton by Hilton brand.
The hotel is part of the first phase
of a new, landmark regeneration pro-
ject being developed by the consorti-
um. It is currently under construction
and expected to commence operations
in late 2019.
The consortium had bought the 2.45-
acre mixed-use site in July 2015. Ap-
proval has been obtained for a built-up
area of more than one million sq ft, in-
cluding 843 apartments, a 204-bedroom
hotel, 4,300 sq ft of retail space, a gym,
swimming pool and car park with 637
parking lots on the site.
The site is within a five-minute walk
of the city centre and off Regent Street
and New York Road — Leeds city cen-
tre’s two main arterial roads. It is also
near the Leeds railway station, which
connects the city directly to London and
other parts of the country.
Heeton is the consortium’s major
shareholder, with a 55% stake, while
KSH Holdings, Lian Beng Group and Ry-
obi Kiso’s unit each have a 15% stake.
The project is the second UK invest-
ment made by the consortium in the
past four months, following its maid-
en acquisition in Hammersmith, Lon-
don, in March.
Roxy-Pacific sells its Sydney office building for A$158 milRoxy-Pacific Holdings announced that
its subsidiary, Roxy-Pacific Goulburn,
has signed an agreement with invest-
ment firm I-Prosperity Group and private
firm Toga D&C to sell them its freehold
office building at 59 Goulburn Street
in Sydney, Australia for A$158 million
($166.6 million).
The property was jointly marketed by
Jones Lang LaSalle (NSW) and Colliers
International (NSW). The sale is sub-
ject to the findings of a due diligence
exercise to be carried out by the buyers,
as well as further definitive sale agree-
ments. — Compiled by Michael Lim
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PROPERTY BRIEFS
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THEEDGE SINGAPORE | APRIL 17, 2017 • EP3
EP4 • THEEDGE SINGAPORE | APRIL 17, 2017
MARKET TRENDS
Preview ofSeaside Residences draws 5,000 | BY CECILIA CHOW |
Despite the rain and having to park their
cars across the road at East Coast Park,
over 3,000 people thronged the sales
gallery of Seaside Residences on April 8,
the first day that the project opened
for preview. Queues at three of the show suites
on the second level snaked all the way down
the stairs to the reception area. By the close
of the weekend of April 8 and 9, an estimated
5,000-strong crowd had visited the gallery.
The majority of the interested buyers live in
the eastern region of District 15 (Joo Chiat, Ka-
tong and Marine Parade), District 18 (Tampines,
Pasir Ris and Simei) and the northeastern region
of District 19 (Sengkang, Punggol).
Property agents believe the strong turnout
was a result of pent-up demand, as there has
been no launch of a private condominium pro-
ject on a government land sale (GLS) site with
views of East Coast Park and the sea since 2001.
The last one was that of the 99-year leasehold
site on Marine Parade Road, which was pur-
chased by Frasers Centrepoint and launched as
the 612-unit Cote D’Azur in 2002. The project
was fully sold and completed in 2004.
Over the past decade, the neighbourhood
around Cote D’Azur has been transformed, as
many sites in the Marine Parade-Amber Road-
Amber Gardens area were purchased en bloc
for redevelop ment. New projects that are the
result of the redevelopment of collective sale
sites include the 383-unit Silversea adjacent to
Cote D’Azur, which was completed in 2014; the
546-unit The Sea View by Wheelock Proper-
ties and the 400-unit The Esta by MCL Land,
both of which were completed in 2008; and
the 562-unit One Amber, in 2010.
More recent completions are the 124-
unit Marine Blue on Marine Parade Road by
CapitaLand, and the 109-unit Amber Skye
The crowd at the preview of Seaside Residences on April 8
The showflat of a four-bedroom unit at Seaside Residences
at Amber Road by CS Land (formerly China
Sonangol Land).
No new launch in 15 yearsAlong the stretch of Marine Parade Road flanked
by Marine Vista and Bedok South Avenue 1
are ageing 99-year leasehold projects that are
more than 30 years old and sitting on huge
plots, for instance, Neptune Court, Mandarin
Gardens and Laguna Park.
Seaside Residences, located on Siglap Link,
is behind Victoria School and fronts East Coast
Park. It is flanked by Mandarin Gardens and
Laguna Park.
Mandarin Gardens on Siglap Road was com-
pleted in 1986. The 1,000-unit development
occupies a site area of a million sq ft. While
the existing plot ratio is 1.6, the site can be re-
developed into a new residential project with a
plot ratio of 2.8. Likewise, Laguna Park, a pri-
vatised HUDC estate on Marine Parade Road,
is zoned for residential use, with a plot ratio of
2.8. Laguna Park contains 516 residential and
12 commercial units sitting on a land area of
678,000 sq ft. It was completed in 1978 and
has a 99-year lease dating from 1977.
Laguna Park has made two collective sale
attempts so far. The first was in October 2009,
when it was put up for sale with a price tag of
$1.2 billion. The second was in 2011, and the
asking price was 11% higher, at $1.33 billion.
“For such big plots, mounting a collective
sale is not impos sible but it will take a longer
time to get off the ground,” says Tan Hong
Boon, JLL regional director of capital markets
for Singapore. The two collective sale attempts
at Laguna Park were made prior to the 2013 hike
in the additional buyer’s stamp duty (ABSD) of
15% on the land cost imposed on developers
if they are not able to build and sell all their
units within five years of acquiring a residen-
tial development site.
Tan also estimates that Laguna Park could
be redeveloped into a project of 1,900 units,
which is bigger than D’Leedon’s 1,715 units.
D’Leedon is a redevelopment of Farrer Court,
the largest collective sale site so far, in volving
618 units occupying a site area of 838,488 sq
ft, which was sold to a CapitaLand- led con-
sortium for $1.34 billion in 2007.
Meanwhile, the largest GLS site offered
for sale to date — the plot on Stirling Road
that was triggered on April 10 — can yield
1,100 resi dential units. This is less than 60%
of the potential number that can be built on
the Laguna Park site, says Tan.
It is not surprising why the GLS site of
207,842 sq ft at Siglap Link drew eight bids
at the close of the government land tender in
January 2016. The winning bid came from a
consort ium made up of Frasers Centrepoint, Se-
kisui House and Keong Hong Holdings, which
bid $624.18 million, or $858 psf per plot ratio,
for the site. The project has since been launched
as Seaside Residences.
Frasers Centrepoint, having developed Cote
D’Azur, recognises the potential of the area
and the lack of new supply in the immediate
neighbourhood of Seaside Residences.
“No residential development with such
exclusive sea views has been launched along
East Coast Parkway in 15 years,” says Cheang
Kok Kheong, Frasers Centrepoint’s head of
develop ment and projects. “With such compel-
ling quali ties, this project is generating strong
interest from new homebuyers and investors.”
Buyers are also cognisant of the fact that
there are no other GLS sites in the immediate
neighbourhood of Seaside Residences, says Jack
Chua, CEO of ERA Singapore. “This has trans-
lated into strong turnout at the sales gallery
even on weekdays.”
Exclusive, with sea viewsTo capitalise on the sea views, Seaside Resi-
dences, which is designed by ADDP Architects,
has four 27-storey residential towers that occupy
just 23.4% of the total site area. It is said that
at least 70% of the units will enjoy sea views.
With no immediate new competition in the
vicinity, “Seaside Residences should be able to
move quite a lot of units”, reckons JLL’s Tan.
The project has a mix of one-bedroom suites
to five-bedroom penthouses. About 64% of
the units are a mix of one- and two-bedders.
The one-bedroom and one-bedroom+study
units are from 420 to 592 sq ft and priced from
$690,000 to $1.16 million. There are three
types of two-bedroom units ranging in size
from 678 to 829 sq ft, priced between $977,000
and $1.6 million.
The remaining 35.5% are predominantly
three- and four-bedroom units. There is a
wide range of three-bedroom and three-
bedroom+study units, with sizes from 1,023
to 1,259 sq ft, and priced from $1.45 million
to $2.33 million. Meanwhile, four-bedroom
units are from 1,485 to 1,733 sq ft. These are
priced between $2.29 million and $3.08 million.
There are only three five-bedroom pent-
houses at Seaside Residences and these are
simplexes of 3,294 sq ft each. According to
market sources, the penthouses are likely to
be priced around $6 million each, given their
exclusivity and uninterrupted views.
East Coast Park beach appeal The main attraction of Seaside Residences is
that it is just a four-minute walk from East
Coast Park via an underpass. It is also just a
three-minute walk from the future Siglap MRT
station on the Thomson-East Coast Line, says
the developer. Seaside Residences is slated for
completion in 2021, and the Siglap MRT station
is scheduled for completion in 2023.
Early indications are that there is equal in-
terest in both the compact and large units, with
many placing a premium on the opportunity
to live across the road from a beach, according
to the developer in a statement.
Another interesting concept introduced by
the developer in this project is its LIVCLO or
“Living Closet”, a built-in storage space with
ready-made shelves. It is available in all the
units at Seaside Residences.
“Buyers who are searching for the best
home and investment available recognise the
value of this project,” adds Frasers Centre-
point’s Cheang. “And we are very pleased with
the overwhelming interest shown in Seaside
Residences.” The project will be launched for
sale on April 22.
About 70% of the units at Seaside Residences will enjoy sea views
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THEEDGE SINGAPORE | APRIL 17, 2017 • EP5
EP6 • THEEDGE SINGAPORE | APRIL 17, 2017
COVER STORY
Luxury of space In addition to having a childcare centre, supermarket and an MRTstation at their doorstep, homebuyers value a spacious living area. Artra at Alexandra, by Far East Consortium and New WorldDevelopment, is designed to meet those needs.
| BY CECILIA CHOW |
The 21,500 sq ft sales gallery
of Artra is designed to look
like a contemporary art gal-
lery. The name “Artra” itself
is a palindrome; it reads as
“art” both backwards and forwards.
The 400-unit private condominium
at Alexandra View fronts the Redhill
MRT station and will be connected
to it in the future.
The project is developed by two
listed Hong Kong developers: Far East
Consortium International and New
World Development Co, which own
70% and 30% stakes res pectively.
This is the partners’ first collabo-
ration in Singapore, but they have
worked together on other projects
in Hong Kong and the UK.
It is also New World Development’s
maiden development project in Singa-
pore. The company has a market cap-
italisation of HK$94.27 billion ($17.05
billion). As for Far East Consortium,
this is the developer’s second mixed-
use development on a government
land sale (GLS) site in eight years.
Far East Consortium’s first mixed-
use development was the 68-unit
Dorsett Residences and the adjacent
285-room Dorsett Hotel, both of which
were completed in 2013. Dorsett
The sales gallery of Artra, designed as an art gallery
A scale model of Arta showing the acoustic canopy that acts as a sound barrier, and the covered linkway to the Redhill MRT station
Residences previewed in September
2010 and saw all its units snapped up
within three days, mostly by Singa-
porean and Indonesian investors. The
average sale price for the units was
$1,800 psf — higher than the initial
indication of $1,680 psf.
The units at Dorsett Residences
are a mix of one-bedders of 484 to
667 sq ft; two-bedders of 689 to 1,012
sq ft; and two-bedrooms+study from
1,206 to 1,615 sq ft. In the resale
market, the asking price of a 484 sq
ft, one-bedroom unit was recently
listed at $1.02 million ($2,107 psf),
while a 689 sq ft, two-bedroom unit
was listed at $1.63 million ($2,366
psf). Asking monthly rents for par-
tially furnished one-bedroom units
range from $3,400 to $3,500, and
that for a 1,000 sq ft, two-bedroom
unit is about $5,000. This translates
to gross rental yields of 3.7% to 4%.
“While rental rates of other
one-bedroom units have suffered,
the one-bedroom units at Dorsett
Residences are doing very well,” says
Dennis Chiu, executive director of Far
East Consortium. “The units are well
tenanted because we have a lift lead-
ing from Dorsett Residences directly
to the underground Outram Park MRT
station. People don’t realise how
important that is until they move in.”
Direct link to MRT stationGiven that the site at Alexandra View
shares the same attribute — direct
connectivity to the Redhill MRT sta-
tion — it is not surprising that the
joint venture partners beat nine other
bids for the site in November 2015.
Their winning bid was $376.88 mil-
lion ($851 psf per plot ratio).
The developers are providing an
“acoustic canopy” that will serve
both as a sound barrier and a shel-
tered walkway from Artra to the MRT
station. Located on the city fringe,
the project is also close to the CBD,
Orchard Road, Singapore Botanic
Gardens and Dempsey Hill dining
destination, says Chiu.
An added convenience for resi-
dents of Artra is that there will be a
1,000 sq m FairPrice Finest supermar-
ket and 16 shops on the first level of
the 44-storey development. On the
second level is a 500 sq m childcare
centre and a 100 sq m playground.
Two dedicated lifts will take residents
directly to the childcare centre, su-
permarket and basement carpark.
“These days, parents are very con-
cerned about security and the safety
of their children,” says Chiu. “With
the dedicated lift, they can bring their
children to the childcare centre with-
out having to cross the road or walk
through a public space.”
Alice Tan, Knight Frank Singapore’s
director and head of research and con-
sultancy, agrees. “The seamless access
to the childcare centre, super market
and other retail amenities as well as
MRT station are an added bonus,” she
says. Knight Frank, Prop Nex and Sav-
ills are joint marketing agents of Artra.
Identifying the trendIdentifying the trend correctly is im-
portant, and so is timing, says Chiu.
“We’re very selective in our deals.” In
2010, compact apartments that were
part of mixed-use developments ap-
pealed to investors. Dorsett Residences
catered to that demand at that time.
However, the market has changed,
says Chiu, and buyers today are
predominantly owner-occupiers.
“We’ve designed the units at Artra
for the upgraders’ market. Therefore,
there are no one- bedroom units.”
At Artra, 190 units (or 47.5% of the
total) are two-bedroom+study con-
figurations, with sizes ranging from
786 to 829 sq ft. Another 108 units
(27%) are three-bedroom apartments
of 1,044 to 1,119 sq ft, while 64 units
(16%) are three-bedroom+study of
1,227 sq ft.
There are 32 three-bedroom+study
corner units that come with private
lifts, and these are 1,410 sq ft each.
There are six “executive units” —
2,583 sq ft, five-bedroom+family
apartments — that also come with
private lift access. These are the
amalgamation of two units, and they
span the 38th to 40th floors of the
44- storey tower block.
“The units at Artra are deliberate-
ly sized to differentiate the project
from
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THEEDGE SINGAPORE | APRIL 17, 2017 • EP7
COVER STORY
The 829 sq ft, two-bedroom+study features a kitchen island with full Smeg kitchen appliances
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—
mily
with
the
hey
the
ate-
ect
from competing [developments] in
the Alexandra neighbourhood,” says
Tay Kah Poh, Knight Frank’s execu-
tive director of agency services. “The
larger sizes raise the liveability factor,
and will appeal to families.” Besides
families, the two-bedroom+study
units are also likely to attract investors
given the conveniences of the MRT
and other amenities, he adds.
Ample storage, liveable spaceMost units come with a kitchen island
and are fully fitted with Smeg kitchen
appliances, including refrigerator, and
all the bathrooms will have a rain show-
er. The master bathrooms will feature
a three-panel vanity mirror that can be
adjusted and, more importantly, pro-
vide additional storage space behind.
All the common bedrooms are
big enough to fit a queen-sized bed,
while the master bedrooms can fit a
king-sized bed. The master bedrooms
will feature walk-in wardrobes. The
living room of the three- bedroom and
three-bedroom+study units are spa-
cious enough for an L-shaped sofa
instead of the usual two- or three-
seater sofa. And the dining area is big
enough for a six-seat dining table, says
Far East Consortium’s Chiu.
The entranceway will also have
a concealed shoe cabinet. “Normal-
ly, when you visit people’s apart-
ments, you see shoes everywhere
outside the front door,” adds Chiu.
With the shoe cabinet, that should
not happen at Artra.
Besides shoes, the three-bed-
room+study units also come with stor-
age space for golf bags. The three-bed-
The showflat of a 1,410 sq ft, three-bedroom+study has a living area spacious enough for an L-shaped sofa and a six-seat dining table
room and three- bedroom+study units
will have a wet and dry kitchen. The
dry kitchen has additional storage
space below the countertops, while
the wet kitchen has storage space
for cleaning appliances, including a
vacuum cleaner. “With all the built-
in storage, all the units are designed
to be efficient, and there’s no space
wastage,” adds Chiu.
“This may not be Ardmore Park or
The Marq on Paterson Hill, but it’s very
liveable and comfortable for upgraders.
The luxury is in the details, in terms of
space and storage, not the gold bling or
diamante you see in some show flats.”
Unblocked viewsAs the residential units start from
the third level, more than half the
units will have views. Units located
above the sky garden on the 24th floor
will be able to enjoy unobstructed
The balcony of the three-bedroom+study corner unit with views of Botanic Gardens, Orchard Road and the city skyline
pano ramic views of the city skyline,
the Singapore Botanic Gardens and
Orchard Road, says Chiu. The units
are also oriented in a north-south ,
so there is no worry about getting
the afternoon sun, he adds.
A lot of attention has been paid
to details, says George Tan, senior di-
rector of Savills Residential. Besides
space, Artra’s units are oriented such
that residents can enjoy the view
from their windows and balconies.
For instance, the corner three-bed-
room+study units feature a spacious
balcony that spans the living room
and master suite. “The balcony out-
side the master suite is a great cor-
ner for enjoying a cigar and a glass
of wine in the evenings,” says Chiu.
Competitive pricingThe market indicative price for Artra
is said to be in the range of $1,600
The master bedroom with walk-in wardrobe and built-in storage space
The Artra site fronts the Redhill MRT station, and it is the only condo in the area that will be linked to it
to $1,700 psf. There are competing
projects in the neighbourhood, such
as the 429-unit Alex Residences,
which is expected to be completed
later this year; the 373-unit Ascentia
Sky, which was completed in 2013;
and the 508-unit Echelon, which is
fully sold and was completed last
year. Next door is the 382-unit The
Metropolitan, built in 2009. All are
99-year leasehold sites purchased
through GLS.
The most recent launch in the
area was that of the 663-unit Prin-
cipal Garden on Prince Charles Cres-
cent, across the road from the Artra
site. The project by UOL Group and
Kheng Leong was launched in Octo-
ber 2015 at an average price of $1,600
psf, and is about 65% sold. Units
sold over the past month ranged from
$829,000 ($1,675 psf) for a 495 sq ft,
one-bedder to $1.91 million ($1,776
psf) for a 1,076 sq ft, three-bedroom
apartment.
Meanwhile, adjacent to Principal
Garden is the 469-unit The Crest by
a Wing Tai-led consortium, which
recently obtained its Temporary Occu-
pation Permit. Since the start of the
year, units have been sold at prices
ranging from $1.155 million ($1,731
psf) for a 667 sq ft, one-bedder on the
10th floor to $2.9 million ($1,716 psf)
for a 1,690 sq ft, four-bedroom apart-
ment on the 15th floor, based on ca-
veats lodged in January and February.
Instead of cannibalising each
other’s sales, the new projects
launched have instead “increased
the level of attractiveness of the Alex-
andra neighbourhood”, notes Knight
Frank’s Tay. Artra’s attributes — spa-
cious and comfortable unit sizes,
seamless access to a childcare cen-
tre, retail amenities and the MRT sta-
tion — would be the main draws for
homebuyers, he adds.
Far East Consortium’s Chiu is po-
sitive about the market. “ Sentiment
is definitely better and new-home
sales have certainly rebounded,” he
says. Therefore, the developer will
preview Artra on the weekend of
April 15 and16, with sales to start
on April 29. E
PICT
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: SAM
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EP8 • THEEDGE SINGAPORE | APRIL 17, 2017
THEEDGE SINGAPORE | APRIL 17, 2017 • EP9
EP10 • THEEDGE SINGAPORE | APRIL 17, 2017
SPECIAL EVENT
At the peak of the collective sale fever in
2005, 2006 and 2007, the number of sites sold
en bloc to developers was 51, 78 and 88, re-
spectively, says Tan. He attributes the spike in
collective sale deals during those years to in-
creased developer interest in prime district sites
in anticipation of demand from the wealthy
as a result of the two Integrated Resorts being
built. The GLS sites were insufficient to sat-
isfy demand then, adds Tan. “There’s an in-
verse correlation between the number of GLS
sites and that of collective sales.”
The number of participants bidding for GLS
sites recently — at least 12 bids were received
— is an indication of pent-up demand by de-
velopers for sites, observes Tan.
Supply-led demandIn Singapore, demand is also supply-led.
According to Savills’ Cheong, when many
GLS sites are sold, new home sales also in-
crease, and vice versa. He expects the gov-
ernment to release more GLS sites for tender,
including the upcoming launch of Kampong
Bugis under the new Master Developer plan,
whereby 4,000 new residential units could
be rolled out.
According to Cheong, the average length of
a market down cycle from 1975 to 2011 was
8.4 quarters. The housing market has already
seen 14 straight quarters of price declines. “The
down cycle is overextended, possibly causing
homebuyers’ impatience to buy,” he reckons.
The recalibration of the seller’s stamp duty
on March 11 has also boosted sales at devel-
opers’ launches, including projects that were
launched one or two years ago, Cheong points
out. He believes the recalibration was a test
conducted by the government to see how the
market will react to changes made to the cool-
ing measures.
His forecast is that prices of residential
properties are set to increase this year, revers-
ing the trend of the past 14 quarters. He ex-
pects prices of condos and apartments in the
Core Central Region to rise about 3% a year
in 2017 and 2018. Meanwhile, his projection
is that prices of condos and apartments in the
Rest of Central Region and Outside Central
Region are likely to rise between 0% and 3%
over the same period.
“As long as the unemployment rate stays
low, the property market should be quite sta-
ble,” assures Cheong.
The most recent collective sale of an HUDC estate is Shunfu Ville, which was sold to Qingjian Realty for $638 million last May
From left: Dr Boaz Boon (panel discussion moderator), JLL’s Tan, Savill’s Cheong and UOB’s Suan
Singapore housing market to remain resilient despite global uncertainty| BY MICHAEL LIM |
The TEP360 seminar on April 8, entitled
“Navigating through turbulent times”,
was attended by about 350 participants.
Of great interest to homeowners and
investors is what opportunities are out
there, given the current market uncertainty.
UOB senior economist Suan Teck Kin spoke
on the state of Singapore’s economy. GDP grew
2% in 2016 and is forecast to grow by another
1.7% this year. He thinks the current growth
rate of 2% to 3% — half of the 6% to 8% rate
per annum that we have been used to over
the past 40 years — will be the “new normal”.
Another concern is the retrenchment rate
for last year, which was the highest since 2009.
About 16,610 workers were let go in 2016 and
the unemployment rate among Singaporeans
and permanent residents was 3.2%, which
is close to the 3.3% seen in 2009, says Suan.
“The unemployment rate will remain high
for a while,” he reckons. “This is because of the
transformation in the economy.” There are sever-
al issues affecting the economy: the ageing pop-
ulation, the disruption taking place across many
sectors of the economy and the uncertainty owing
to what is happening in other countries, such
as Brexit in the UK, President Donald Trump’s
policies in the US, the European political situ-
ation and the Chinese government’s policies.
Although the unemployment rate in Singapore
has increased, it has not had a significant impact
on debt levels. Currently, the debt service ratio,
which is the amount of mortgage payment as a
percentage of monthly income, stands at 25%.
This is half the level seen during the Asian finan-
cial crisis in 1997/98 when the DSR was 50%.
“As long as interest rates do not return to the
7%-to-8% level last seen in the 1990s and unem-
ployment does not rise above 5%, the DSR lev-
el should remain at a comfortable level, and the
Singapore economy should be fine,” says Suan.
HDB as bufferHDB has been an important buffer for the over-
all property market, as 80% of homeowners in
Singapore live in public housing flats, accord-
ing to Suan. “As long as the HDB market holds
up and HDB resale prices are stable, that will
provide a good support for private residential
prices,” he says. “This is because the private
housing market is supported by HDB upgrad-
ers’ demand.”
The concern of many attendees at the sem-
inar was the statement by National Develop-
ment Minister Lawrence Wong in a blog post
on March 24 that homebuyers should not as-
sume that all old HDB flats will be automati-
cally eligible for the Selective En bloc Redevel-
opment Scheme (SERS). Wong also said that
the leases for most HDB flats will eventually
run out and the flats returned to HDB, which
in turn will surrender the land to the state.
“The government is trying to rein in pub-
lic expectations and minimise the escalation of
HDB prices,” says Alan Cheong, Savills Singa-
pore head of research and consultancy.
According to Cheong, the government’s
concern could have been several million-dollar
transactions of old HDB flats last year, such as
the 1,571 sq ft executive flat on Lengkong Tiga
that changed hands for $935,000 in February
2016. The unit was completed in 1989. Another
was a 1,561 sq ft executive flat at Block 101B
Toa Payoh Lorong 2, which was completed
23 years ago and sold last June for $980,000.
In 2015, a 28-year-old executive apartment of
1,604 sq ft in Bishan fetched $1.05 million.
Collective sales: Success not guaranteedHUDC, or Housing and Urban Development Co,
projects, which were developed in the 1970s and
1980s, have also been privatised. The gradually
expiring leases in these developments are also a
concern. “One of the key impetuses for owners
of HUDC to take the collective sale route is to
unlock the value of the development and let the
private sector handle the renewal and maxim-
ise the untapped redevelopment potential that
could be realised,” says Tan Hong Boon, JLL
regional director of capital markets.
The most recent collective sale of an HUDC
estate is Shunfu Ville, which was sold to Qing-
jian Realty for $638 million last May. Each own-
er in the 358-unit development will walk away
with $1.78 million if the deal is successful. The
site, located just 200m from the Marymount
MRT station, can be redeveloped into a new
project of more than 1,000 units, based on an
average unit size of 1,000 sq ft. The Court of
Appeal will be hearing the case on April 12,
as two owners in the project object to the sale.
According to JLL’s Tan, who was involved
in the collective sale of Shunfu Ville, the en-
tire process took 30 months. “For investors
looking to buy a unit in an ageing condomin-
ium or privatised HUDC estate in the hope of
a collective sale, they have to be aware that
it is a long-drawn-out process that could take
anywhere from three to four years.”
The biggest collective sale site sold so far is
still Farrer Court, a former HUDC estate with
618 units that sits on an 838,488 sq ft plot.
Farrer Court was sold to a CapitaLand-led
consortium in 2007 for a record $1.34 billion.
The new project, called d’Leedon, is a 1,715-
unit condo development designed by the late
Pritzker Prize winner, Zaha Hadid, and was
completed in 2014.
The probability of a collective sale being
successful is about 20%, says Tan. Over the
past three years, there were only five success-
ful collective sales. The number of failed col-
lective sales over the same period was 20.
Inverse correlation between GLS sites and collective sales Of the five collective sales that were complet-
ed recently, three — Shunfu Ville, Raintree
Gardens and Harbour View Gardens — were
done last year. Tan attributes the increase in
the number of transactions to the fact that the
number of sites offered for sale on the Con-
firmed List of the Government Land Sales (GLS)
programme was just eight last year, while in
2015, it was just 12.
By contrast, from 2011 to 2014, the govern-
ment released a record number of sites in the
GLS programme. In 2011, it released 36 resi-
dential development sites on the Confirmed
List; in 2012, 29 sites were launched; and in
2013, the figure was 23. In 2014, however, it
tapered down to 17. E
ALBE
RT C
HUA/
THE
EDG
E SI
NG
APO
RE
JLL
THEEDGE SINGAPORE | APRIL 17, 2017 • EP11
MARKET TRENDS
A strata bungalow on Hua Guan Avenue has been put up for mortgagee sale at a guide price of $3 million
A freehold bungalow at Eng Kong Garden was auctioned for $3.95 million on March 23
JLL
A 3½-storey semi-detached house on Sixth Avenue has been put up for mortgagee sale at a guide price of $3.38 million
KNIG
HT F
RAN
K
A Good Class Bungalow on Belmont Road has been put up for mortgagee sale at a guide price of $25 million
SAM
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KNIG
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Rise in number of landed homes soldat auctions| BY LIN ZHIQIN |
In 1Q2017, of eight properties sold
under the hammer, four were land-
ed homes, according to JLL in a
release on April 3. The four trans-
actions totalled $11.2 million, or
73.5% of the $15.23 million auction
deals concluded in the first three
months of 2017.
A fifth landed property, a trustee
sale of a corner terraced house on
Jalan Remaja, off Hillview Avenue,
was sold just before Knight Frank’s
auction on March 22. The old, dou-
ble-storey house, which sits on a 4,226
sq ft freehold plot, fetched $3.2 mil-
lion ($757 psf), according to a cave-
at lodged on March 31.
The most expensive landed prop-
erty sold at an auction in 1Q2017 was
a detached house at Eng Kong Gar-
den, a landed housing estate located
off Toh Tuck Road. It fetched $3.95
million ($915 psf). The three-storey
house, which has six bedrooms and
a study, has a built-up area of 5,167
sq ft and sits on a freehold site of
4,316 sq ft.
The house at Eng Kong Garden
was a mortgagee sale, and was sold
at JLL’s auction on March 23. Accord-
ing to URA caveat data, the property
was last purchased for $3.7 million
in April 2015. As it was sold with-
in two years of purchase, the seller
would have had to pay a 12% seller’s
stamp duty on the sale price, which
translates into $474,000.
The other two properties that made
up the top three landed home deals at
auctions were semi-detached houses.
One was a two-storey semi-detached
house on Jalan Daud in Kembangan,
in the east. The house, which comes
with three bedrooms and a study, sits
on a freehold site of 3,423 sq ft. It
was sold at JLL’s auction on March
23 for $3.2 million ($935 psf).
Meanwhile, a three-storey semi-de-
tached house on Jalan Dinding, off
Woodlands Road, went under the
hammer for $2.6 million ($688 psf)
at Colliers International’s auction
on March 30. An estate sale, the
house contains seven bedrooms and
a study and sits on a freehold plot
of 3,780 sq ft.
A third of landed homes for auction are mortgagee salesIn 1Q2017, a total of 36 landed res-
idential properties were put up for
auction — 28.6% higher than the
figure the year before — according
to Sharon Lee, Knight Frank’s head
of auction. Of this, 13, or about a
third, were mortgagee sale listings,
an 85.7% jump from a year ago,
she adds.
“The number of landed residen-
tial properties put up for auction has
been quite stable — between 28 and
39 units — since 1Q2015,” says Lee.
“The number of landed residential
properties put up for auction under
mortgagee sale has also been above
the 12-unit mark since 2Q2016.”
For the past three quarters, the
number of non-landed residential
properties (apartments and condo-
miniums) put up for auction has
hovered around the 60-unit mark.
The number of non-landed residen-
tial mortgagee sale listings was 40
in 1Q2017, the highest in six years
since Knight Frank started tracking
auction results in 1Q2011. Seven out
of the 40 mortgagee sales are locat-
ed in prime Districts 1, 9, 10 and 11.
Private-treaty dealsSome landed homes have been put up
for auction more than once — and still
have not been sold. As such, they are
now available for sale by private treaty.
For instance, a 99-year leasehold
semi-detached house on Sixth Avenue
in prime District 10, has been put up
for private-treaty sale. A mortgagee
sale, the 3½-storey house sits on a
3,670 sq ft site and has a guide price
of $3.38 million ($921 psf). Based on
URA caveat data, the property was
last transacted at $1.63 million in
October 2006.
Another property that is available
for sale by private treaty is a strata
bungalow on Hua Guan Avenue in
District 21. A mortgagee sale, it has
a guide price of $3 million ($711 psf).
Based on URA caveat data, it was
last sold for $3.5 million ($830 psf)
in November 2013. The two-storey
bungalow has a basement and attic
level and a total strata area of 4,219
sq ft. The property has a 999-year
lease and is part of a strata bunga-
low development with just six units.
It comes with private parking and
private swimming pool. The latest
transaction at the strata bungalow
development on Hua Guan Avenue
was in February 2011, when a de-
tached house with a strata area of
4,682 sq ft changed hands for $5
million ($1,068 psf).
Another landed home that has
been put up for auction twice and
is now available for sale by private
treaty is a Good Class Bungalow on
Belmont Road in prime District 10.
The property was last put up for
auction by Colliers International in
February with an opening price of
$25 million. The double-storey GCB
comes with a basement entertain-
ment room and games room, four en
suite bedrooms including the master
suite, a swimming pool and a cov-
ered garage that can fit five cars. It
sits on a freehold site of 16,327 sq ft
and its guide price is pegged to the
opening price at the last auction of
$25 million ($1,531 psf). The prop-
erty last changed hands for $16 mil-
lion in March 2010. E
EP12 • THEEDGE SINGAPORE | APRIL 17, 2017
E
DONE DEALS
Surge in sales in Alexandra-Queenstown area
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 28 to April 4
District 1 MARINA ONE RESIDENCES Apartment 99 years March 29, 2017 1,141 2,496,087 2,188 Uncompleted New SaleMARINA ONE RESIDENCES Apartment 99 years March 29, 2017 1,141 2,696,413 2,363 Uncompleted New SaleTHE CLIFT Apartment 99 years April 04, 2017 527 980,000 1,858 2011 ResaleTHE SAIL @ MARINA BAY Apartment 99 years April 03, 2017 678 1,238,000 1,826 2008 ResaleV ON SHENTON Apartment 99 years March 30, 2017 1,098 1,975,000 1,799 Uncompleted Sub SaleDistrict 2 ICON Apartment 99 years April 03, 2017 581 1,070,000 1,841 2007 ResaleDistrict 3 ALEX RESIDENCES Apartment 99 years March 28, 2017 1,023 1,867,000 1,826 Uncompleted New SaleALEX RESIDENCES Apartment 99 years March 28, 2017 883 1,535,500 1,740 Uncompleted New SaleALEX RESIDENCES Apartment 99 years March 31, 2017 883 1,611,223 1,825 Uncompleted New SaleASCENTIA SKY Condominium 99 years March 28, 2017 958 1,272,000 1,328 2013 ResaleCENTRAL GREEN CONDOMINIUM Condominium 99 years March 30, 2017 1,346 1,500,000 1,115 1995 ResaleCOMMONWEALTH TOWERS Condominium 99 years March 28, 2017 1,076 1,588,000 1,475 Uncompleted New SaleCOMMONWEALTH TOWERS Condominium 99 years March 28, 2017 1,076 1,592,600 1,480 Uncompleted New SaleCOMMONWEALTH TOWERS Condominium 99 years March 28, 2017 441 838,000 1,899 Uncompleted New SaleCOMMONWEALTH TOWERS Condominium 99 years March 28, 2017 1,302 1,898,000 1,457 Uncompleted New SaleCOMMONWEALTH TOWERS Condominium 99 years March 28, 2017 904 1,421,600 1,572 Uncompleted New SaleCOMMONWEALTH TOWERS Condominium 99 years March 29, 2017 689 1,272,200 1,847 Uncompleted New SaleCOMMONWEALTH TOWERS Condominium 99 years March 29, 2017 904 1,404,400 1,553 Uncompleted New SaleCOMMONWEALTH TOWERS Condominium 99 years March 30, 2017 1,302 2,150,100 1,651 Uncompleted New SaleCOMMONWEALTH TOWERS Condominium 99 years March 30, 2017 1,076 1,671,500 1,553 Uncompleted New SaleCOMMONWEALTH TOWERS Condominium 99 years March 30, 2017 1,076 1,643,500 1,527 Uncompleted New SaleCOMMONWEALTH TOWERS Condominium 99 years March 30, 2017 1,302 2,340,000 1,797 Uncompleted New SaleCOMMONWEALTH TOWERS Condominium 99 years March 31, 2017 441 838,000 1,899 Uncompleted New Sale
COMMONWEALTH TOWERS Condominium 99 years March 31, 2017 700 1,268,000 1,812 Uncompleted New SaleCOMMONWEALTH TOWERS Condominium 99 years March 31, 2017 904 1,381,600 1,528 Uncompleted New SaleCOMMONWEALTH TOWERS Condominium 99 years April 01, 2017 474 838,000 1,769 Uncompleted New SaleCOMMONWEALTH TOWERS Condominium 99 years April 01, 2017 1,055 1,668,700 1,582 Uncompleted New SaleCOMMONWEALTH TOWERS Condominium 99 years April 01, 2017 1,302 1,898,000 1,457 Uncompleted New SaleCOMMONWEALTH TOWERS Condominium 99 years April 01, 2017 904 1,422,600 1,573 Uncompleted New SaleHIGHLINE RESIDENCES Condominium 99 years March 30, 2017 915 1,619,300 1,770 Uncompleted New SalePRINCIPAL GARDEN Condominium 99 years March 28, 2017 807 1,296,000 1,605 Uncompleted New SalePRINCIPAL GARDEN Condominium 99 years March 28, 2017 484 789,000 1,629 Uncompleted New SalePRINCIPAL GARDEN Condominium 99 years March 28, 2017 1,076 1,817,000 1,688 Uncompleted New SalePRINCIPAL GARDEN Condominium 99 years March 28, 2017 807 1,343,000 1,664 Uncompleted New SalePRINCIPAL GARDEN Condominium 99 years March 28, 2017 764 1,213,000 1,587 Uncompleted New SalePRINCIPAL GARDEN Condominium 99 years March 28, 2017 495 787,000 1,589 Uncompleted New SalePRINCIPAL GARDEN Condominium 99 years March 29, 2017 1,076 1,783,000 1,656 Uncompleted New SalePRINCIPAL GARDEN Condominium 99 years March 29, 2017 861 1,422,000 1,651 Uncompleted New SalePRINCIPAL GARDEN Condominium 99 years March 30, 2017 1,076 1,930,000 1,793 Uncompleted New SalePRINCIPAL GARDEN Condominium 99 years March 30, 2017 1,076 1,899,000 1,764 Uncompleted New SalePRINCIPAL GARDEN Condominium 99 years March 31, 2017 807 1,301,000 1,612 Uncompleted New SalePRINCIPAL GARDEN Condominium 99 years March 31, 2017 1,076 1,912,000 1,776 Uncompleted New SalePRINCIPAL GARDEN Condominium 99 years March 31, 2017 786 1,305,000 1,661 Uncompleted New SalePRINCIPAL GARDEN Condominium 99 years April 02, 2017 495 834,000 1,674 Uncompleted New SaleQUEENS PEAK Condominium 99 years March 28, 2017 431 762,000 1,770 Uncompleted New SaleQUEENS PEAK Condominium 99 years March 29, 2017 441 737,000 1,670 Uncompleted New SaleQUEENS PEAK Condominium 99 years March 30, 2017 441 721,000 1,634 Uncompleted New SaleQUEENS PEAK Condominium 99 years April 01, 2017 441 741,000 1,679 Uncompleted New SaleQUEENS PEAK Condominium 99 years April 02, 2017 431 736,000 1,709 Uncompleted New SaleTHE METROPOLITAN CONDOMINIUM Condominium 99 years March 29, 2017 1,066 1,350,000 1,267 2009 ResaleDistrict 4 CARIBBEAN AT KEPPEL BAY Condominium 99 years March 28, 2017 893 1,395,000 1,561 2004 ResaleCORALS AT KEPPEL BAY Condominium 99 years April 01, 2017 893 1,470,000 1,645 2016 New SaleHARBOURLIGHTS Apartment Freehold April 03, 2017 764 1,052,000 1,377 1997 ResaleCOVE DRIVE Detached 99 years April 03, 2017 7,416 10,000,000 1,348 2009 ResaleREFLECTIONS AT KEPPEL BAY Condominium 99 years March 30, 2017 4,359 10,000,000 2,294 2011 ResaleTERESA VILLE Condominium Freehold April 03, 2017 1,356 1,380,000 1,018 1986 ResaleTHE INTERLACE Condominium 99 years March 30, 2017 1,744 2,000,000 1,147 2013 ResaleTHE PEARL @ MOUNT FABER Condominium 99 years April 03, 2017 1,173 1,290,000 1,099 2005 ResaleDistrict 5 BANYAN PARK Terrace Freehold March 31, 2017 1,625 2,650,000 1,628 1997 ResaleBLUE HORIZON Condominium 99 years March 30, 2017 1,216 1,120,000 921 2005 ResaleBOTANNIA Condominium 956 years March 31, 2017 1,227 1,390,000 1,133 2009 ResaleCLEMENTIWOODS CONDOMINIUM Condominium 99 years March 30, 2017 1,055 1,135,000 1,076 2010 ResaleFABER CREST Condominium 99 years March 31, 2017 1,249 1,050,000 841 2001 ResaleHERITAGE VIEW Condominium 99 years March 31, 2017 969 1,060,000 1,094 2000 ResaleKENTVIEW PARK Condominium Freehold March 29, 2017 1,227 1,190,000 970 1994 ResalePARC IMPERIAL Condominium Freehold March 29, 2017 388 695,000 1,794 2010 ResalePARC RIVIERA Condominium 99 years March 28, 2017 904 1,099,000 1,215 Uncompleted New SalePARC RIVIERA Condominium 99 years March 28, 2017 904 1,100,000 1,217 Uncompleted New SalePARC RIVIERA Condominium 99 years March 28, 2017 710 928,000 1,306 Uncompleted New SalePARC RIVIERA Condominium 99 years March 28, 2017 1,184 1,337,000 1,129 Uncompleted New SalePARC RIVIERA Condominium 99 years March 28, 2017 1,184 1,332,000 1,125 Uncompleted New SalePARC RIVIERA Condominium 99 years March 28, 2017 990 1,141,000 1,152 Uncompleted New SalePARC RIVIERA Condominium 99 years March 28, 2017 990 1,230,000 1,242 Uncompleted New SalePARC RIVIERA Condominium 99 years March 28, 2017 990 1,220,000 1,232 Uncompleted New SalePARC RIVIERA Condominium 99 years March 28, 2017 926 911,000 984 Uncompleted New SalePARC RIVIERA Condominium 99 years March 29, 2017 1,335 1,287,000 964 Uncompleted New SalePARC RIVIERA Condominium 99 years March 30, 2017 904 1,082,000 1,197 Uncompleted New SalePARC RIVIERA Condominium 99 years March 30, 2017 710 895,000 1,260 Uncompleted New SalePARC RIVIERA Condominium 99 years March 30, 2017 710 900,620 1,268 Uncompleted New SalePARC RIVIERA Condominium 99 years March 30, 2017 624 787,000 1,261 Uncompleted New SalePARC RIVIERA Condominium 99 years March 30, 2017 710 895,000 1,260 Uncompleted New Sale
LAND AREA/ SALE DATE FLOOR AREA TRANSACTED UNIT PRICE COMPLETION TYPE OFPROJECT NAME PROPERTY TYPE TENURE (2017) (SQ FT) PRICE ($) ($ PSF) DATE SALE
LAND AREA/ SALE DATE FLOOR AREA TRANSACTED UNIT PRICE COMPLETION TYPE OFPROJECT NAME PROPERTY TYPE TENURE (2017) (SQ FT) PRICE ($) ($ PSF) DATE SALE
| BY TAN CHEE YUEN |
Sales activity has heated up in the
Alexandra-Commonwealth neighbour-
hood, ahead of the upcoming preview
of Artra on the weekend of April 15
and 16. The mixed-use development
comprises a single 44-storey tower with 400
apartments, 16 retail units and a supermarket.
The 99-year leasehold project will be linked
to the Redhill MRT station, and is expected to
be completed in 2021. There is a mix of two-
to five-bedroom units of 786 to 2,583 sq ft in
the development.
Adjacent to Artra is the 429-unit Alex Residences on Alexandra View, where devel-
oper United Industrial Corp moved 16 units
in March. That is equivalent to the total units
sold from last September to February. Prices
ranged from $952,000 ($2,010 psf) for a 474 sq
ft, one-bedroom unit to $1.91 million ($1,828
psf) for a 1,044 sq ft, three-bedroom unit. The
project is over 70% sold and expected to be
completed by the end of this year.
Meanwhile, on the other side of Artra is
The Metropolitan Condominium, a 99-year
leasehold project on Alexandra View jointly
developed by CapitaLand and Lippo Group.
The 382-unit, high-rise development with units
spread over two 45-storey tower blocks was
com pleted in 2009. A 1,066 sq ft, two-bedder
changed hands for $1.35 million ($1,267 psf),
according to a caveat lodged on March 29.
However, it is Principal Garden on Prince
The project that saw the biggest leap in monthly sales in March was Commonwealth Towers, with 43 units sold
Charles Crescent, on the opposite side of
Alexandra Road, that has seen the biggest surge
in sales. In February, 27 units were sold at a
median price of $1,657 psf. In March, another
44 units found buyers, based on caveats lodged.
Units sold in March ranged from $1,539 psf for
a 764 sq ft, two-bedroom unit to $1,793 psf
for a 1,076 sq ft, three-bedroom unit. Based
on caveats lodged, 430 units, or 65% out of a
total of 663, were sold. The project is jointly
developed by UOL Group and Kheng Leong Co.
One MRT stop away from Redhill is Queen-
stown. Next to the Queenstown MRT station is
Commonwealth Towers, which saw the biggest
leap in monthly sales — with 43 units sold in
March. Prices ranged from $788,000 ($1,786
psf) for a 441 sq ft, one-bedder to $2.34 mil-
lion ($1,797 psf) for a 1,302 sq ft, four-bed-
room unit. It was the highest number of units
sold in a single month since the project was
launched in May 2014. That month saw 238
units snapped up. The 845-unit project is
jointly developed by a consortium made up
of City Developments, Hong Leong Holdings
and Hong Realty.
Adjacent to Commonwealth Towers is the 736-
unit Queens Peak, a 99-year leasehold condo
developed by Hao Yuan Investment, with MCC
Land handling the marketing, project manage-
ment and construction. Last month, 20 units
were sold at prices ranging from $721,000 ($1,634
psf) for a 441 sq ft, one-bedder to $3.03 mil-
lion ($1,515 psf) for a 2,002 sq ft, five-bedroom
unit. The project is about 44% sold, according
to caveats lodged with URA Realis.
The area around the Queenstown MRT sta-
tion has also drawn interest from land-hungry
developers. A residential site on Stirling Road,
next to Queens condo, will be launched for
sale by tender in about two weeks. Recently,
a dev eloper triggered the site for sale by com-
mitting to a minimum bid of $685.25 million,
or $718 psf per plot ratio (psf ppr).
The site, which is within walking distance of
the Queenstown MRT station, has a maximum
permissible gross floor area of 954,327 sq ft and
can yield an estimated 1,110 units. It is substan-
tially larger than the Commonwealth Towers and
Queens Peak condo sites, which fetched prices
of $883 and $871 psf ppr respectively.
Last December, there were 14 bids at the close
of the tender for a residential site at Margaret
Drive, in the Dawson Road and Strathmore
Avenue neighbourhood, off Alexandra Road.
It is also near Commonwealth Towers and
Queens Peak on Dundee Road.
The winner of the 238,907 sq ft site on
Margaret Drive was MCL Land, which paid
$238.39 million, or $998 psf ppr. The site can
be developed into a new condo project of about
300 units, and is expected to be launched for
sale late this year or early 2018. This project
is the smallest among all the recent launches
in the area, including the upcoming site on
Stirling Road.
It looks like interest, from buyers and
developers, is definitely heating up in the
Alexandra-Queenstown area.
HON
G L
EON
G
THEEDGE SINGAPORE | APRIL 17, 2017 • EP13
DONE DEALS
a Residential transactions with contracts dated March 28 to April 4
LAND AREA/ SALE DATE FLOOR AREA TRANSACTED UNIT PRICE COMPLETION TYPE OFPROJECT NAME PROPERTY TYPE TENURE (2017) (SQ FT) PRICE ($) ($ PSF) DATE SALEPARC RIVIERA Condominium 99 years March 31, 2017 710 916,000 1,289 Uncompleted New SalePARC RIVIERA Condominium 99 years March 31, 2017 710 949,000 1,336 Uncompleted New SalePARC RIVIERA Condominium 99 years March 31, 2017 710 927,080 1,305 Uncompleted New SalePARC RIVIERA Condominium 99 years March 31, 2017 1,711 1,637,000 956 Uncompleted New SalePARC RIVIERA Condominium 99 years April 01, 2017 904 1,132,000 1,252 Uncompleted New SalePARC RIVIERA Condominium 99 years April 01, 2017 904 1,078,000 1,192 Uncompleted New SalePARC RIVIERA Condominium 99 years April 01, 2017 990 1,135,000 1,146 Uncompleted New SalePARC RIVIERA Condominium 99 years April 01, 2017 710 925,000 1,302 Uncompleted New SalePARC RIVIERA Condominium 99 years April 01, 2017 710 885,000 1,246 Uncompleted New SalePARC RIVIERA Condominium 99 years April 02, 2017 1,195 1,296,000 1,085 Uncompleted New SalePARC RIVIERA Condominium 99 years April 02, 2017 904 1,112,000 1,230 Uncompleted New SalePARC RIVIERA Condominium 99 years April 02, 2017 710 900,000 1,267 Uncompleted New SalePARC RIVIERA Condominium 99 years April 02, 2017 1,184 1,352,400 1,142 Uncompleted New SalePARC RIVIERA Condominium 99 years April 02, 2017 1,335 1,287,000 964 Uncompleted New SalePARC RIVIERA Condominium 99 years April 02, 2017 990 1,240,680 1,253 Uncompleted New SalePARC RIVIERA Condominium 99 years April 02, 2017 710 922,000 1,298 Uncompleted New SaleTHE CLEMENT CANOPY Apartment 99 years March 30, 2017 732 1,019,000 1,392 Uncompleted New SaleTHE CLEMENT CANOPY Apartment 99 years March 30, 2017 1,346 1,767,000 1,313 Uncompleted New SaleTHE CLEMENT CANOPY Apartment 99 years March 31, 2017 732 1,000,000 1,366 Uncompleted New SaleTHE CLEMENT CANOPY Apartment 99 years April 02, 2017 732 1,053,000 1,439 Uncompleted New SaleTHE PARC CONDOMINIUM Condominium Freehold March 31, 2017 1,518 1,900,000 1,252 2010 ResaleTHE TRILINQ Condominium 99 years March 29, 2017 710 1,093,000 1,539 Uncompleted New SaleTHE TRILINQ Condominium 99 years March 30, 2017 1,518 1,846,800 1,217 Uncompleted New SaleTHE TRILINQ Condominium 99 years March 31, 2017 710 1,105,000 1,555 Uncompleted New SaleVARSITY PARK CONDOMINIUM Condominium 99 years March 31, 2017 2,228 2,550,000 1,144 2008 ResaleDistrict 7 DUO RESIDENCES Apartment 99 years March 30, 2017 1,528 3,000,000 1,963 Uncompleted Sub SaleDistrict 8 CITY SQUARE RESIDENCES Condominium Freehold March 28, 2017 1,496 1,800,000 1,203 2009 ResaleCLYDES RESIDENCE Apartment Freehold March 28, 2017 570 770,000 1,350 2005 ResalePRISTINE HEIGHTS Apartment Freehold April 03, 2017 850 1,070,000 1,258 2009 ResaleSTUDIOS @ MARNE Apartment Freehold April 03, 2017 506 639,888 1,265 2010 ResaleDistrict 9 1919 Apartment Freehold March 30, 2017 560 1,233,000 2,203 2015 ResaleASPEN HEIGHTS Condominium 999 years March 31, 2017 2,691 4,035,000 1,499 1998 ResaleCAIRNHILL NINE Apartment 99 years March 30, 2017 1,044 2,588,000 2,479 2016 New SaleCAVENAGH HOUSE Apartment Freehold March 31, 2017 1,636 2,280,000 1,394 Unknown ResaleKILLINEY 118 Apartment Freehold March 28, 2017 570 1,050,000 1,841 2013 ResaleMARTIN PLACE RESIDENCES Condominium Freehold March 28, 2017 1,163 2,230,000 1,918 2011 ResaleNEWTON EDGE Apartment Freehold March 30, 2017 700 1,100,000 1,572 2011 ResaleNOMU Apartment Freehold April 04, 2017 603 1,200,000 1,991 2009 ResaleRIVERGATE Apartment Freehold March 29, 2017 1,507 3,000,000 1,991 2009 ResaleROBERTSON 100 Apartment Freehold March 29, 2017 893 1,500,000 1,679 2004 ResaleROBERTSON 100 Apartment Freehold March 29, 2017 1,173 1,880,000 1,602 2004 ResaleROBERTSON 100 Apartment Freehold April 03, 2017 883 1,500,000 1,699 2004 ResaleSCOTTS SQUARE Apartment Freehold March 31, 2017 947 2,860,000 3,019 2011 ResaleSOPHIA HILLS Condominium 99 years March 28, 2017 570 1,209,000 2,119 Uncompleted New SaleSOPHIA HILLS Condominium 99 years March 29, 2017 1,044 1,886,000 1,806 Uncompleted New SaleSOPHIA HILLS Condominium 99 years March 29, 2017 700 1,377,000 1,968 Uncompleted New SaleSOPHIA HILLS Condominium 99 years March 29, 2017 710 1,367,000 1,924 Uncompleted New SaleSOPHIA HILLS Condominium 99 years March 29, 2017 700 1,329,000 1,899 Uncompleted New SaleSOPHIA HILLS Condominium 99 years March 31, 2017 958 1,756,000 1,833 Uncompleted New SaleSOPHIA HILLS Condominium 99 years March 31, 2017 700 1,420,000 2,030 Uncompleted New SaleSOPHIA HILLS Condominium 99 years April 01, 2017 1,130 2,175,000 1,924 Uncompleted New SaleSOPHIA RESIDENCE Condominium Freehold March 31, 2017 797 1,438,000 1,805 2014 ResaleTHE CLAYMORE Condominium Freehold March 28, 2017 2,680 6,650,000 2,481 1985 ResaleTHE COSMOPOLITAN Condominium Freehold March 29, 2017 1,324 2,580,000 1,949 2008 ResaleTHE EDGE ON CAIRNHILL Condominium Freehold March 30, 2017 1,550 2,500,000 1,613 2002 ResaleTHE ORCHARD RESIDENCES Apartment 99 years March 28, 2017 2,174 7,400,000 3,403 2010 ResaleTRIBECA Condominium Freehold March 31, 2017 517 1,000,000 1,935 2010 ResaleVISIONCREST Apartment Freehold March 31, 2017 893 1,690,000 1,892 2007 ResaleWATERFORD RESIDENCE Apartment 999 years March 30, 2017 1,023 1,570,000 1,535 2010 ResaleDistrict 10 BOTANIC GARDENS VIEW Apartment Freehold April 04, 2017 1,259 2,000,000 1,588 Unknown ResaleBOTANIKA Apartment Freehold April 03, 2017 3,294 5,200,000 1,579 2008 ResaleCLUNY PARK RESIDENCE Condominium Freehold March 28, 2017 840 2,100,000 2,501 2016 ResaleGRAMERCY PARK Condominium Freehold March 28, 2017 2,207 5,782,610 2,621 2016 ResaleHOLLAND PEAK Condominium Freehold April 03, 2017 2,594 3,700,000 1,426 1994 ResaleHOLLANDSWOOD COURT Apartment 99 years March 28, 2017 2,131 1,550,000 727 1980 ResaleJUNIPER AT ARDMORE Apartment Freehold April 04, 2017 3,520 7,000,000 1,989 1991 ResaleLEEDON RESIDENCE Condominium Freehold March 30, 2017 2,110 5,200,000 2,465 2015 ResaleLEEDON RESIDENCE Condominium Freehold March 31, 2017 4,704 9,700,000 2,062 2015 ResaleLEEDON RESIDENCE Condominium Freehold April 04, 2017 6,125 12,000,000 1,959 2015 ResaleNASSIM MANSION Apartment Freehold March 31, 2017 3,520 8,500,000 2,415 1977 ResalePARVIS Condominium Freehold April 03, 2017 1,701 2,700,000 1,588 2012 ResalePOLLEN & BLEU Condominium 99 years March 29, 2017 732 1,304,750 1,783 2016 ResalePOLLEN & BLEU Condominium 99 years March 29, 2017 2,153 4,316,300 2,005 2016 ResalePOLLEN & BLEU Condominium 99 years March 31, 2017 700 1,275,000 1,822 2016 ResalePOLLEN & BLEU Condominium 99 years March 31, 2017 603 1,292,000 2,143 2016 ResalePOLLEN & BLEU Condominium 99 years March 31, 2017 893 1,656,650 1,854 2016 ResalePOLLEN & BLEU Condominium 99 years March 31, 2017 603 1,257,150 2,086 2016 ResalePOLLEN & BLEU Condominium 99 years March 31, 2017 549 1,098,200 2,000 2016 ResaleSIXTH AVENUE VILLE Condominium Freehold April 04, 2017 1,550 2,218,000 1,431 1999 ResaleST REGIS RESIDENCES SINGAPORE Apartment 999 years March 30, 2017 2,486 5,700,000 2,292 2008 ResaleTANGLIN REGENCY Condominium 99 years April 03, 2017 980 1,220,000 1,246 1998 ResaleTHE ARC AT DRAYCOTT Apartment Freehold March 28, 2017 1,130 2,180,000 1,929 2008 ResaleTHE DRAYCOTT Apartment Freehold March 31, 2017 2,637 4,230,000 1,604 1980 ResaleTHE SOLITAIRE Condominium Freehold March 30, 2017 1,238 1,980,888 1,600 2009 ResaleTHE TRESOR Condominium 999 years March 31, 2017 1,485 2,290,000 1,542 2007 ResaleTHE TRIZON Condominium Freehold March 29, 2017 2,067 3,141,840 1,520 2012 ResaleTHE TRIZON Condominium Freehold March 31, 2017 1,894 2,980,000 1,573 2012 ResaleVICTORIA PARK VILLAS Semi-Detached 99 years March 31, 2017 2,153 4,500,000 2,090 Uncompleted New SaleWING ON LIFE GARDEN Apartment Freehold March 29, 2017 3,240 5,200,000 1,605 1982 ResaleDistrict 11 26 NEWTON Apartment Freehold March 28, 2017 474 1,138,000 2,403 2016 Resale26 NEWTON Apartment Freehold March 31, 2017 474 1,113,216 2,350 2016 Resale6 DERBYSHIRE Condominium Freehold March 29, 2017 517 1,352,963 2,619 2017 New Sale6 DERBYSHIRE Condominium Freehold March 30, 2017 1,012 2,201,832 2,176 2017 New SaleDUNEARN ESTATE Detached Freehold April 03, 2017 4,456 7,500,000 1,681 2000 ResaleGENTLE VILLAS Semi-Detached 99 years April 03, 2017 2,303 2,680,000 1,165 1995 ResaleONE AKYAB Apartment Freehold March 31, 2017 1,830 1,650,000 902 1984 ResaleTHE PARK VALE Condominium 999 years March 28, 2017 1,012 1,360,000 1,344 1997 ResaleTHE RESIDENCES AT BARKER Detached Freehold March 28, 2017 4,359 7,300,000 1,676 2003 ResaleTRILIGHT Condominium Freehold March 28, 2017 2,099 3,500,000 1,667 2012 ResaleTRILIGHT Condominium Freehold April 04, 2017 1,087 1,968,888 1,811 2012 ResaleDistrict 12 BALESTIER REGENCY Apartment Freehold March 31, 2017 1,475 1,410,000 956 1990 ResaleCASA FORTUNA Apartment Freehold April 03, 2017 1,044 1,100,000 1,054 2011 ResaleEIGHT RIVERSUITES Terrace 99 years March 31, 2017 2,960 2,000,000 676 2016 New SaleGEM RESIDENCES Condominium 99 years March 28, 2017 775 1,114,000 1,437 Uncompleted New SaleGEM RESIDENCES Condominium 99 years April 02, 2017 936 1,354,000 1,446 Uncompleted New SaleKALLANG RIVERSIDE Apartment Freehold March 28, 2017 517 1,189,531 2,302 Uncompleted New SaleKALLANG RIVERSIDE Apartment Freehold March 30, 2017 517 1,227,586 2,376 Uncompleted New SalePRESTIGE HEIGHTS Apartment Freehold March 29, 2017 334 502,000 1,504 2011 ResaleRIVERBAY Apartment 999 years April 03, 2017 753 955,000 1,267 2014 Resale
LAND AREA/ SALE DATE FLOOR AREA TRANSACTED UNIT PRICE COMPLETION TYPE OFPROJECT NAME PROPERTY TYPE TENURE (2017) (SQ FT) PRICE ($) ($ PSF) DATE SALE
District 13 E MAISON Apartment Freehold March 28, 2017 603 836,964 1,388 2016 New SaleINTERO Apartment Freehold March 29, 2017 1,023 1,300,000 1,271 2008 ResaleJALAN ANGGEREK Semi-Detached Freehold March 28, 2017 3,757 3,570,000 951 1990 ResaleNIN RESIDENCE Apartment 99 years March 29, 2017 1,281 1,488,800 1,162 2014 ResaleTHE POIZ RESIDENCES Apartment 99 years March 29, 2017 420 652,000 1,553 Uncompleted New SaleTHE POIZ RESIDENCES Apartment 99 years March 29, 2017 420 655,000 1,560 Uncompleted New SaleTHE POIZ RESIDENCES Apartment 99 years April 01, 2017 420 646,000 1,539 Uncompleted New SaleTHE POIZ RESIDENCES Apartment 99 years April 02, 2017 1,507 1,923,000 1,276 Uncompleted New SaleTHE VENUE RESIDENCES Apartment 99 years March 28, 2017 1,130 1,506,015 1,332 Uncompleted New SaleTHE VENUE RESIDENCES Apartment 99 years March 29, 2017 1,152 1,531,000 1,329 Uncompleted New SaleTHE VENUE RESIDENCES Apartment 99 years March 31, 2017 1,238 1,794,750 1,450 Uncompleted New SaleDistrict 14 CASA SARINA Condominium Freehold March 30, 2017 1,259 1,068,000 848 1998 ResaleCASSIA VIEW Apartment Freehold April 04, 2017 1,152 1,060,000 920 1998 ResaleCENTRAL GROVE Condominium 99 years March 28, 2017 1,173 1,120,000 955 2001 ResaleEUHABITAT Condominium 99 years March 30, 2017 517 620,000 1,200 2015 Sub SaleKEMBANGAN PLAZA Apartment Freehold March 31, 2017 775 765,000 987 1993 ResaleLORONG 6 GEYLANG Apartment Freehold March 30, 2017 2,228 3,800,000 1,709 Unknown ResaleLORONG 6 GEYLANG Apartment Freehold March 30, 2017 1,938 1,850,000 955 1979 ResaleLORONG 6 GEYLANG Apartment Freehold March 30, 2017 1,938 1,850,000 955 1979 ResaleLORONG 6 GEYLANG Apartment Freehold March 30, 2017 1,938 1,850,000 955 1979 ResaleLORONG 6 GEYLANG Apartment Freehold March 30, 2017 1,884 1,850,000 982 1979 ResaleLORONG 6 GEYLANG Apartment Freehold March 30, 2017 1,884 1,850,000 982 1979 ResaleLORONG 6 GEYLANG Apartment Freehold March 30, 2017 1,884 1,850,000 982 1979 ResalePARK PLACE RESIDENCES AT PLQ Apartment 99 years March 28, 2017 678 1,259,999 1,858 Uncompleted New SalePARK PLACE RESIDENCES AT PLQ Apartment 99 years March 29, 2017 667 1,281,999 1,921 Uncompleted New SalePARK PLACE RESIDENCES AT PLQ Apartment 99 years March 31, 2017 484 934,999 1,930 Uncompleted New SalePARK PLACE RESIDENCES AT PLQ Apartment 99 years March 31, 2017 667 1,319,999 1,978 Uncompleted New SalePARK PLACE RESIDENCES AT PLQ Apartment 99 years March 31, 2017 1,163 1,978,999 1,702 Uncompleted New SaleSIMS URBAN OASIS Condominium 99 years March 28, 2017 958 1,350,800 1,410 Uncompleted New SaleSIMS URBAN OASIS Condominium 99 years March 31, 2017 560 752,000 1,344 Uncompleted New SaleSIMS URBAN OASIS Condominium 99 years April 01, 2017 710 960,000 1,351 Uncompleted New SaleSIMS URBAN OASIS Condominium 99 years April 02, 2017 667 935,000 1,401 Uncompleted New SaleSIMS URBAN OASIS Condominium 99 years April 02, 2017 710 987,200 1,390 Uncompleted New SaleSIMS URBAN OASIS Condominium 99 years April 02, 2017 667 941,000 1,410 Uncompleted New SaleSIMS URBAN OASIS Condominium 99 years April 02, 2017 990 1,419,900 1,434 Uncompleted New SaleSIMSVILLE Condominium 99 years March 30, 2017 1,528 1,330,000 870 1998 ResaleSIMSVILLE Condominium 99 years March 31, 2017 980 840,000 858 1998 ResaleTHE ALCOVE Apartment 99 years March 31, 2017 1,324 1,025,000 774 2004 ResaleTHE ALCOVE Apartment 99 years March 31, 2017 1,119 838,000 749 2004 ResaleTHE CENTREN Apartment Freehold April 03, 2017 980 1,190,000 1,215 2016 ResaleTHE LATTIZ Apartment Freehold March 31, 2017 1,109 1,242,000 1,120 2011 ResaleTRE RESIDENCES Condominium 99 years March 28, 2017 947 1,320,000 1,394 Uncompleted New SaleTRE RESIDENCES Condominium 99 years March 29, 2017 570 914,000 1,602 Uncompleted New SaleTRE RESIDENCES Condominium 99 years March 29, 2017 570 882,000 1,546 Uncompleted New SaleTRE RESIDENCES Condominium 99 years March 29, 2017 700 984,000 1,406 Uncompleted New SaleTRE RESIDENCES Condominium 99 years March 30, 2017 764 1,087,000 1,422 Uncompleted New SaleTRE RESIDENCES Condominium 99 years March 31, 2017 700 980,000 1,401 Uncompleted New SaleTRE RESIDENCES Condominium 99 years April 01, 2017 700 1,018,000 1,455 Uncompleted New SaleTRE RESIDENCES Condominium 99 years April 02, 2017 570 910,000 1,595 Uncompleted New SaleDistrict 15 BLU CORAL Condominium Freehold April 03, 2017 3,423 2,358,000 689 2009 ResaleCATHAY GARDEN Terrace Freehold March 31, 2017 3,132 4,600,000 1,471 1985 ResaleD’ FRESCO Apartment Freehold March 29, 2017 797 850,000 1,067 2010 ResaleDE CASALLE Apartment Freehold March 28, 2017 1,292 1,320,000 1,022 1996 ResaleD’ECOSIA Condominium Freehold March 29, 2017 764 863,000 1,129 2003 ResaleDUNMAN VIEW Condominium 99 years March 31, 2017 1,195 1,130,000 946 2004 ResaleESPIRA SUITES Apartment Freehold April 03, 2017 484 680,000 1,404 2012 ResaleFRANKEL ESTATE Terrace Freehold March 28, 2017 2,799 3,820,000 1,363 1956 ResaleFRANKEL ESTATE Detached Freehold March 31, 2017 4,435 7,800,000 1,761 1993 ResaleFULCRUM Condominium Freehold March 29, 2017 829 1,433,520 1,730 2016 ResaleFULCRUM Condominium Freehold March 31, 2017 474 945,000 1,995 2016 ResaleLAVERNE’S LOFT Apartment Freehold March 28, 2017 398 540,000 1,356 2013 ResaleMARINE BLUE Condominium Freehold March 28, 2017 635 1,177,200 1,854 2016 New SaleMARINE BLUE Condominium Freehold March 30, 2017 635 1,132,200 1,783 2016 New SaleMARINE BLUE Condominium Freehold April 01, 2017 1,270 1,647,000 1,297 2016 New SaleBRANKSOME ROAD Detached Freehold March 28, 2017 4,446 6,900,000 1,552 1998 ResaleMARSHALL ROAD Terrace Freehold March 30, 2017 2,906 3,300,000 1,134 1993 ResaleEAST COAST ROAD Terrace Freehold April 03, 2017 2,024 2,400,000 1,189 Unknown ResaleOPERA ESTATE Terrace Freehold March 28, 2017 1,335 1,830,000 1,368 Unknown ResalePARKSHORE Condominium Freehold March 30, 2017 2,325 3,100,000 1,333 1995 ResaleSANCTUARY GREEN Condominium 99 years March 28, 2017 1,238 1,300,000 1,050 2004 ResaleSANCTUARY GREEN Condominium 99 years April 03, 2017 775 900,000 1,161 2004 ResaleSEAVIEW POINT Apartment Freehold March 28, 2017 1,389 1,650,000 1,188 1994 ResaleSIGNATURE CREST Apartment Freehold March 29, 2017 883 873,000 989 2006 ResaleTANJONG RIA CONDOMINIUM Condominium 99 years March 31, 2017 807 848,000 1,050 1997 ResaleTHE CARPMAELINA Condominium Freehold March 30, 2017 1,927 1,665,000 864 2005 ResaleTHE ESTA Condominium Freehold April 04, 2017 1,346 1,760,000 1,308 2008 ResaleVILLA MARINA Condominium 99 years March 29, 2017 1,690 1,420,000 840 1999 ResaleDistrict 16 AQUARIUS BY THE PARK Condominium 99 years March 29, 2017 1,206 950,000 788 2000 ResaleARCHIPELAGO Condominium 99 years March 28, 2017 840 1,055,000 1,257 2015 Sub SaleCOUNTRY PARK CONDOMINIUM Condominium Freehold March 31, 2017 1,389 1,510,000 1,087 2003 ResaleECO Condominium 99 years April 03, 2017 581 785,000 1,351 2017 Sub SaleGRANDEUR PARK RESIDENCES Condominium 99 years March 28, 2017 1,238 1,640,000 1,325 Uncompleted New SaleGRANDEUR PARK RESIDENCES Condominium 99 years March 31, 2017 980 1,362,000 1,390 Uncompleted New SaleGRANDEUR PARK RESIDENCES Condominium 99 years April 01, 2017 850 1,003,000 1,180 Uncompleted New SaleGRANDEUR PARK RESIDENCES Condominium 99 years April 02, 2017 624 958,000 1,534 Uncompleted New SaleLANDBAY CONDOMINIUM Condominium Freehold March 30, 2017 980 1,220,000 1,246 1996 ResaleKEW CRESCENT Detached 99 years March 29, 2017 5,038 3,250,000 646 1997 ResaleRIVIERA RESIDENCES Condominium Freehold March 31, 2017 1,216 1,438,000 1,182 2007 ResaleSUNHAVEN Condominium Freehold March 31, 2017 1,313 1,200,000 914 2002 ResaleSUNHAVEN Condominium Freehold April 03, 2017 1,259 1,130,000 897 2002 ResaleTHE GLADES Condominium 99 years March 28, 2017 474 716,800 1,513 2016 New SaleTHE GLADES Condominium 99 years March 28, 2017 484 724,800 1,496 2016 New SaleTHE GLADES Condominium 99 years March 29, 2017 1,023 1,418,200 1,387 2016 New SaleTHE GLADES Condominium 99 years April 02, 2017 474 735,800 1,554 2016 New SaleWATERFRONT GOLD Condominium 99 years March 30, 2017 893 995,000 1,114 2014 ResaleWATERFRONT WAVES Condominium 99 years March 29, 2017 1,270 1,400,000 1,102 2011 ResaleDistrict 17 ASTON RESIDENCE Detached 946 years March 31, 2017 4,693 2,000,000 426 2010 ResaleBLUWATERS 2 Condominium 946 years April 03, 2017 872 830,000 952 2010 ResaleCARISSA PARK CONDOMINIUM Condominium Freehold March 30, 2017 2,110 1,600,000 758 2001 ResaleCHANGI GROVE Detached Freehold March 31, 2017 6,082 5,200,000 855 Unknown ResaleEDELWEISS PARK CONDOMINIUM Condominium Freehold March 31, 2017 947 700,000 739 2006 ResaleESTELLA GARDENS Condominium Freehold April 04, 2017 657 575,000 876 1999 ResalePALM ISLES Condominium 99 years March 28, 2017 517 536,888 1,039 2015 ResalePALM ISLES Condominium 99 years March 28, 2017 1,119 971,228 868 2015 ResaleDistrict 18 CHANGI RISE CONDOMINIUM Condominium 99 years March 29, 2017 1,130 860,000 761 2004 ResaleCOCO PALMS Condominium 99 years March 28, 2017 1,259 1,360,800 1,081 Uncompleted New SaleCOCO PALMS Condominium 99 years March 30, 2017 1,378 1,341,000 973 Uncompleted New SaleCOCO PALMS Condominium 99 years March 30, 2017 1,744 1,799,200 1,032 Uncompleted New Sale
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EP14 • THEEDGE SINGAPORE | APRIL 17, 2017
DONE DEALS
DISCLAIMER:Source: URA Realis. Updated April 11, 2017. The Edge Publishing 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
Residential transactions with contracts dated March 28 to April 4
FROM PREVIOUS PAGE
LAND AREA/ SALE DATE FLOOR AREA TRANSACTED UNIT PRICE COMPLETION TYPE OFPROJECT NAME PROPERTY TYPE TENURE (2017) (SQ FT) PRICE ($) ($ PSF) DATE SALE
LAND AREA/ SALE DATE FLOOR AREA TRANSACTED UNIT PRICE COMPLETION TYPE OFPROJECT NAME PROPERTY TYPE TENURE (2017) (SQ FT) PRICE ($) ($ PSF) DATE SALE
COCO PALMS Condominium 99 years March 31, 2017 1,259 1,406,400 1,117 Uncompleted New SaleCOCO PALMS Condominium 99 years April 01, 2017 1,259 1,380,000 1,096 Uncompleted New SaleLIVIA Condominium 99 years March 29, 2017 1,324 980,000 740 2011 ResaleLIVIA Condominium 99 years April 03, 2017 1,604 1,110,000 692 2011 ResaleMELVILLE PARK Condominium 99 years March 28, 2017 958 735,000 767 1996 ResaleMELVILLE PARK Condominium 99 years March 30, 2017 1,475 915,000 620 1996 ResaleRIPPLE BAY Condominium 99 years March 28, 2017 1,399 1,200,000 858 2015 ResaleRIPPLE BAY Condominium 99 years March 30, 2017 1,001 885,000 884 2015 ResaleSEA ESTA Condominium 99 years March 29, 2017 904 900,000 995 2015 ResaleSEASTRAND Condominium 99 years March 30, 2017 1,109 1,010,000 911 2014 ResaleTHE ALPS RESIDENCES Condominium 99 years March 28, 2017 700 721,000 1,031 Uncompleted New SaleTHE ALPS RESIDENCES Condominium 99 years March 30, 2017 689 743,000 1,079 Uncompleted New SaleTHE ALPS RESIDENCES Condominium 99 years April 01, 2017 689 731,000 1,061 Uncompleted New SaleTHE ALPS RESIDENCES Condominium 99 years April 01, 2017 700 780,000 1,115 Uncompleted New SaleTHE ALPS RESIDENCES Condominium 99 years April 02, 2017 689 707,000 1,026 Uncompleted New SaleTHE EDEN AT TAMPINES EC 99 years March 29, 2017 1,249 945,000 757 2003 ResaleTHE RIVERINA Terrace 99 years March 29, 2017 1,615 1,690,000 1,044 2000 ResaleTHE SANTORINI Condominium 99 years March 28, 2017 915 966,000 1,056 Uncompleted New SaleTHE SANTORINI Condominium 99 years March 28, 2017 915 974,000 1,065 Uncompleted New SaleTHE SANTORINI Condominium 99 years March 28, 2017 743 798,930 1,076 Uncompleted New SaleTHE SANTORINI Condominium 99 years March 29, 2017 753 766,260 1,017 Uncompleted New SaleTHE SANTORINI Condominium 99 years March 30, 2017 1,130 1,188,000 1,051 Uncompleted New SaleTHE SANTORINI Condominium 99 years March 30, 2017 1,152 1,177,000 1,022 Uncompleted New SaleTHE SANTORINI Condominium 99 years March 31, 2017 1,991 1,600,000 803 Uncompleted New SaleTHE SANTORINI Condominium 99 years April 01, 2017 1,152 1,187,000 1,031 Uncompleted New SaleTHE SANTORINI Condominium 99 years April 02, 2017 1,249 1,265,000 1,013 Uncompleted New SaleTHE SANTORINI Condominium 99 years April 02, 2017 1,367 1,366,000 999 Uncompleted New SaleVUE 8 RESIDENCE Condominium 99 years March 30, 2017 2,691 2,500,000 929 2017 New SaleVUE 8 RESIDENCE Condominium 99 years March 31, 2017 2,228 2,021,370 907 2017 New SaleDistrict 19 COMPASS HEIGHTS Apartment 99 years March 29, 2017 1,324 1,130,000 853 2002 ResaleEVANIA Apartment Freehold March 31, 2017 980 920,000 939 2010 ResaleKINGSFORD WATERBAY Apartment 99 years March 28, 2017 1,356 1,592,000 1,174 Uncompleted New SaleKINGSFORD WATERBAY Apartment 99 years March 29, 2017 1,195 1,443,000 1,208 Uncompleted New SaleKINGSFORD WATERBAY Apartment 99 years March 30, 2017 689 880,000 1,277 Uncompleted New SaleKINGSFORD WATERBAY Apartment 99 years March 30, 2017 689 876,000 1,272 Uncompleted New SaleKINGSFORD WATERBAY Apartment 99 years April 02, 2017 689 886,000 1,286 Uncompleted New SaleKINGSFORD WATERBAY Apartment 99 years April 02, 2017 1,055 1,192,000 1,130 Uncompleted New SaleKOVAN RESIDENCES Condominium 99 years March 31, 2017 1,765 2,050,000 1,161 2011 ResaleMARLENE AVENUE Semi-Detached Freehold March 28, 2017 5,264 4,039,888 768 1985 ResaleHILLSIDE DRIVE Terrace 999 years March 31, 2017 1,496 2,400,000 1,606 Unknown ResaleJOON HIANG ROAD Terrace Freehold April 04, 2017 1,776 1,900,000 1,067 Unknown ResalePARRY PARK Terrace 999 years April 03, 2017 1,690 1,950,000 1,158 1991 ResalePEOPLE’S GARDEN Terrace 999 years March 29, 2017 1,841 2,800,000 1,519 Unknown ResaleRIVERSAILS Condominium 99 years March 28, 2017 1,066 1,080,000 1,013 2016 ResaleSERANGOON GARDEN ESTATE Semi-Detached 999 years March 28, 2017 3,197 3,038,000 952 Unknown ResaleSERANGOON GARDEN ESTATE Terrace 999 years April 03, 2017 2,799 2,600,000 928 Unknown ResaleSTARS OF KOVAN Apartment 99 years March 28, 2017 958 1,376,900 1,437 Uncompleted New SaleSTARS OF KOVAN Apartment 99 years March 30, 2017 958 1,417,320 1,479 Uncompleted New SaleTHE QUARTZ Condominium 99 years March 28, 2017 1,367 1,145,000 838 2009 ResaleTHE QUARTZ Condominium 99 years March 31, 2017 1,066 980,000 920 2009 ResaleTHE QUARTZ Condominium 99 years April 04, 2017 1,044 955,000 915 2009 ResaleTHE RIVERVALE EC 99 years March 30, 2017 1,292 875,000 677 2000 ResaleTHE VALES EC 99 years March 29, 2017 764 640,000 837 Uncompleted New SaleTHE VALES EC 99 years March 30, 2017 764 650,388 851 Uncompleted New SaleTHE VALES EC 99 years March 31, 2017 753 646,000 857 Uncompleted New SaleTHE VALES EC 99 years March 31, 2017 764 650,388 851 Uncompleted New SaleTHE VALES EC 99 years March 31, 2017 764 659,888 863 Uncompleted New SaleTRILIVE Condominium Freehold March 28, 2017 549 974,000 1,774 Uncompleted New SaleTRILIVE Condominium Freehold March 30, 2017 549 955,000 1,740 Uncompleted New SaleTRILIVE Condominium Freehold March 31, 2017 904 1,415,000 1,565 Uncompleted New SaleDistrict 20 BISHAN 8 Condominium 99 years March 30, 2017 1,163 1,350,000 1,161 2000 ResaleCENTRO RESIDENCES Condominium 99 years March 28, 2017 926 1,300,000 1,404 2014 ResaleCLOVER BY THE PARK Condominium 99 years March 28, 2017 1,216 1,525,000 1,254 2011 ResaleGOLDENHILL PARK CONDOMINIUM Condominium Freehold March 31, 2017 1,313 1,650,000 1,256 2004 ResaleNEW SOO CHOW GARDENS Terrace Freehold March 29, 2017 1,808 2,600,000 1,436 1991 ResaleTHE GARDENS AT BISHAN Condominium 99 years April 03, 2017 1,227 1,260,000 1,027 2004 ResaleTHE PANORAMA Condominium 99 years March 30, 2017 1,012 1,271,021 1,256 Uncompleted New SaleTHE PANORAMA Condominium 99 years March 31, 2017 1,163 1,416,839 1,219 Uncompleted New SaleTHOMSON HILLS ESTATE Terrace Freehold April 03, 2017 3,197 3,268,000 1,021 Unknown ResaleTHOMSON IMPRESSIONS Apartment 99 years March 28, 2017 463 758,300 1,638 Uncompleted New SaleDistrict 21 CLEMENTI PARK Condominium Freehold March 28, 2017 1,658 1,630,000 983 1985 ResaleFLORIDIAN Condominium Freehold March 28, 2017 1,658 2,600,000 1,568 2012 ResaleFLORIDIAN Condominium Freehold April 03, 2017 1,658 2,600,000 1,568 2012 ResaleGOODLUCK GARDEN Condominium Freehold April 03, 2017 1,701 1,530,000 900 1984 ResaleMAPLE WOODS Condominium Freehold March 29, 2017 1,335 1,760,000 1,319 1997 ResalePINE GROVE Condominium 99 years March 28, 2017 1,755 1,445,000 824 Unknown ResalePINE GROVE Condominium 99 years March 31, 2017 1,755 1,300,000 741 Unknown ResaleSPRINGDALE CONDOMINIUM Condominium 999 years March 28, 2017 1,130 1,220,000 1,079 1998 ResaleSPRINGDALE CONDOMINIUM Condominium 999 years April 04, 2017 1,119 1,300,000 1,161 1998 ResaleTHE CREEK @ BUKIT Condominium Freehold March 29, 2017 969 1,561,154 1,611 Uncompleted New SaleTHE CREEK @ BUKIT Condominium Freehold April 01, 2017 936 1,612,000 1,721 Uncompleted New SaleTHE NEXUS Condominium Freehold March 28, 2017 1,346 1,850,000 1,375 2006 ResaleTOH TUCK GARDEN Terrace Freehold March 29, 2017 2,637 3,050,000 1,158 1977 ResaleDistrict 22 LAKE GRANDE Condominium 99 years March 28, 2017 818 1,053,000 1,287 Uncompleted New SaleLAKE GRANDE Condominium 99 years March 31, 2017 904 1,196,000 1,323 Uncompleted New SalePARC OASIS Condominium 99 years March 28, 2017 1,378 1,350,000 980 1994 ResaleTHE LAKESHORE Condominium 99 years March 28, 2017 1,109 1,120,000 1,010 2008 ResaleWESTWOOD RESIDENCES EC 99 years March 28, 2017 1,033 786,700 761 Uncompleted New SaleWESTWOOD RESIDENCES EC 99 years March 28, 2017 1,152 937,400 814 Uncompleted New SaleWESTWOOD RESIDENCES EC 99 years March 29, 2017 1,033 772,500 748 Uncompleted New SaleWESTWOOD RESIDENCES EC 99 years March 29, 2017 1,152 943,400 819 Uncompleted New SaleWESTWOOD RESIDENCES EC 99 years March 31, 2017 1,033 769,131 744 Uncompleted New SaleWESTWOOD RESIDENCES EC 99 years April 01, 2017 1,152 963,864 837 Uncompleted New SaleWESTWOOD RESIDENCES EC 99 years April 01, 2017 1,152 937,100 814 Uncompleted New SaleWESTWOOD RESIDENCES EC 99 years April 02, 2017 1,152 931,800 809 Uncompleted New SaleDistrict 23 ECO SANCTUARY Condominium 99 years March 28, 2017 700 837,900 1,198 2016 Sub SaleECO SANCTUARY Condominium 99 years March 28, 2017 775 985,000 1,271 2016 Sub SaleECO SANCTUARY Condominium 99 years March 29, 2017 980 1,168,000 1,192 2016 Sub SaleGUILIN VIEW Condominium 99 years March 30, 2017 1,572 1,225,000 779 2000 ResaleHAZEL PARK CONDOMINIUM Condominium 999 years April 03, 2017 1,335 1,360,000 1,019 2000 ResaleHILLION RESIDENCES Apartment 99 years March 29, 2017 463 655,500 1,416 Uncompleted New SaleHILLION RESIDENCES Apartment 99 years March 30, 2017 474 652,650 1,378 Uncompleted New SaleHILLION RESIDENCES Apartment 99 years April 02, 2017 474 703,950 1,486 Uncompleted New SaleHILLION RESIDENCES Apartment 99 years April 02, 2017 474 652,650 1,378 Uncompleted New SaleHILLTOP GROVE Condominium 99 years March 28, 2017 1,485 1,020,000 687 2001 ResaleHILLVISTA Condominium Freehold March 29, 2017 958 1,000,000 1,044 2010 ResaleINZ RESIDENCE EC 99 years March 28, 2017 1,184 951,000 803 Uncompleted New SaleINZ RESIDENCE EC 99 years March 29, 2017 1,109 927,000 836 Uncompleted New SaleINZ RESIDENCE EC 99 years March 29, 2017 1,184 974,000 823 Uncompleted New SaleINZ RESIDENCE EC 99 years March 30, 2017 1,109 832,000 750 Uncompleted New Sale
INZ RESIDENCE EC 99 years March 30, 2017 1,184 947,000 800 Uncompleted New SaleINZ RESIDENCE EC 99 years April 01, 2017 1,109 874,000 788 Uncompleted New SaleINZ RESIDENCE EC 99 years April 01, 2017 969 736,000 760 Uncompleted New SaleINZ RESIDENCE EC 99 years April 01, 2017 1,012 768,000 759 Uncompleted New SaleINZ RESIDENCE EC 99 years April 01, 2017 1,012 800,000 791 Uncompleted New SaleJALAN REMAJA Terrace Freehold March 31, 2017 4,230 3,200,000 757 Unknown ResaleNORTHVALE Apartment 99 years March 31, 2017 1,173 808,000 689 1998 ResaleREGENT HEIGHTS Condominium 99 years March 30, 2017 1,023 818,888 801 1999 ResaleREGENT HEIGHTS Condominium 99 years March 31, 2017 1,173 850,000 724 1999 ResaleSOL ACRES EC 99 years March 28, 2017 570 463,000 812 Uncompleted New SaleSOL ACRES EC 99 years March 28, 2017 732 568,000 776 Uncompleted New SaleSOL ACRES EC 99 years March 28, 2017 926 690,000 745 Uncompleted New SaleSOL ACRES EC 99 years March 28, 2017 926 696,000 752 Uncompleted New SaleSOL ACRES EC 99 years March 28, 2017 926 699,000 755 Uncompleted New SaleSOL ACRES EC 99 years March 28, 2017 926 690,000 745 Uncompleted New SaleSOL ACRES EC 99 years March 28, 2017 1,044 829,000 794 Uncompleted New SaleSOL ACRES EC 99 years March 29, 2017 926 720,000 778 Uncompleted New SaleSOL ACRES EC 99 years March 30, 2017 1,044 857,000 821 Uncompleted New SaleSOL ACRES EC 99 years March 31, 2017 1,044 790,000 757 Uncompleted New SaleSOL ACRES EC 99 years March 31, 2017 732 616,000 842 Uncompleted New SaleSOL ACRES EC 99 years March 31, 2017 926 708,000 765 Uncompleted New SaleSOL ACRES EC 99 years March 31, 2017 570 475,000 833 Uncompleted New SaleSOL ACRES EC 99 years March 31, 2017 1,044 865,000 828 Uncompleted New SaleSOL ACRES EC 99 years April 01, 2017 1,044 837,000 802 Uncompleted New SaleSOL ACRES EC 99 years April 01, 2017 850 659,000 775 Uncompleted New SaleSOL ACRES EC 99 years April 01, 2017 1,044 813,000 779 Uncompleted New SaleSOL ACRES EC 99 years April 01, 2017 1,044 801,000 767 Uncompleted New SaleSOL ACRES EC 99 years April 01, 2017 872 691,000 793 Uncompleted New SaleSOL ACRES EC 99 years April 01, 2017 926 681,000 736 Uncompleted New SaleSOL ACRES EC 99 years April 01, 2017 570 469,000 822 Uncompleted New SaleSOL ACRES EC 99 years April 01, 2017 570 463,000 812 Uncompleted New SaleSOL ACRES EC 99 years April 01, 2017 570 449,000 787 Uncompleted New SaleSOL ACRES EC 99 years April 02, 2017 1,044 877,000 840 Uncompleted New SaleSOL ACRES EC 99 years April 02, 2017 1,044 849,000 813 Uncompleted New SaleSOL ACRES EC 99 years April 02, 2017 1,163 914,000 786 Uncompleted New SaleSOL ACRES EC 99 years April 02, 2017 1,044 809,000 775 Uncompleted New SaleSOL ACRES EC 99 years April 02, 2017 926 684,000 739 Uncompleted New SaleSOL ACRES EC 99 years April 02, 2017 926 720,000 778 Uncompleted New SaleTHE LINEAR Apartment 999 years March 31, 2017 1,076 910,000 845 2006 ResaleTHE WARREN Condominium 99 years March 29, 2017 1,238 1,010,000 816 2004 ResaleVILLA VERDE Terrace 99 years April 03, 2017 2,153 1,570,000 729 2000 ResaleDistrict 25 BELLEWOODS EC 99 years March 29, 2017 1,346 920,700 684 2017 New SaleBELLEWOODS EC 99 years March 29, 2017 1,346 897,250 667 2017 New SaleBELLEWOODS EC 99 years March 30, 2017 1,249 985,000 789 2017 New SaleBELLEWOODS EC 99 years April 01, 2017 1,066 809,820 760 2017 New SaleBELLEWOODS EC 99 years April 01, 2017 1,249 949,410 760 2017 New SaleBELLEWOODS EC 99 years April 02, 2017 1,281 1,012,770 791 2017 New SaleFORESTVILLE EC 99 years March 31, 2017 1,195 840,000 703 2016 New SaleFORESTVILLE EC 99 years April 02, 2017 1,496 1,055,000 705 2016 New SaleLA CASA EC 99 years March 31, 2017 1,141 798,000 699 2008 ResaleJALAN DINDING Semi-Detached Freehold March 30, 2017 3,778 2,600,000 688 1997 ResaleNORTHWAVE EC 99 years March 29, 2017 1,270 937,650 738 Uncompleted New SaleNORTHWAVE EC 99 years March 29, 2017 1,098 841,300 766 Uncompleted New SaleNORTHWAVE EC 99 years March 31, 2017 1,270 1,009,450 795 Uncompleted New SaleNORTHWAVE EC 99 years March 31, 2017 990 743,000 750 Uncompleted New SaleNORTHWAVE EC 99 years April 01, 2017 753 595,650 791 Uncompleted New SalePARC ROSEWOOD Condominium 99 years March 28, 2017 431 510,000 1,185 2014 ResaleWOODHAVEN Condominium 99 years March 31, 2017 624 640,000 1,025 2015 ResaleDistrict 26 BULLION PARK Condominium Freehold March 30, 2017 807 850,000 1,053 1992 ResaleTHE BROOKS I & II Apartment Freehold April 01, 2017 710 905,250 1,274 2016 New SaleDistrict 27 EIGHT COURTYARDS Condominium 99 years March 29, 2017 861 800,000 929 2014 ResaleNORTH PARK RESIDENCES Apartment 99 years March 28, 2017 732 965,360 1,319 Uncompleted New SaleNORTH PARK RESIDENCES Apartment 99 years March 30, 2017 700 956,560 1,367 Uncompleted New SaleNORTH PARK RESIDENCES Apartment 99 years April 01, 2017 732 995,020 1,359 Uncompleted New SaleNORTH PARK RESIDENCES Apartment 99 years April 02, 2017 969 1,288,800 1,330 Uncompleted New SaleNORTH PARK RESIDENCES Apartment 99 years April 02, 2017 1,227 1,389,600 1,132 Uncompleted New SaleNORTH PARK RESIDENCES Apartment 99 years April 02, 2017 700 944,900 1,351 Uncompleted New SalePARC LIFE EC 99 years March 30, 2017 1,109 892,050 805 Uncompleted New SalePARC LIFE EC 99 years March 31, 2017 1,109 885,400 797 Uncompleted New SalePARC LIFE EC 99 years March 31, 2017 1,044 789,450 754 Uncompleted New SalePARC LIFE EC 99 years April 01, 2017 1,281 1,012,700 789 Uncompleted New SalePARC LIFE EC 99 years April 02, 2017 1,044 781,850 747 Uncompleted New SalePARC LIFE EC 99 years April 02, 2017 1,066 894,740 837 Uncompleted New SaleSIGNATURE AT YISHUN EC 99 years April 01, 2017 1,184 866,287 732 Uncompleted New SaleSIGNATURE AT YISHUN EC 99 years April 02, 2017 1,098 767,830 699 Uncompleted New SaleSIGNATURE AT YISHUN EC 99 years April 02, 2017 1,098 813,890 741 Uncompleted New SaleSYMPHONY SUITES Condominium 99 years March 28, 2017 786 844,000 1,074 Uncompleted New SaleSYMPHONY SUITES Condominium 99 years March 29, 2017 786 876,000 1,115 Uncompleted New SaleSYMPHONY SUITES Condominium 99 years April 01, 2017 786 823,000 1,047 Uncompleted New SaleTHE BROWNSTONE EC 99 years April 01, 2017 915 793,600 867 Uncompleted New SaleTHE CRITERION EC 99 years March 28, 2017 786 690,600 879 Uncompleted New SaleTHE CRITERION EC 99 years March 29, 2017 1,173 911,200 777 Uncompleted New SaleTHE CRITERION EC 99 years March 29, 2017 1,119 852,800 762 Uncompleted New SaleTHE CRITERION EC 99 years March 30, 2017 1,001 786,400 786 Uncompleted New SaleTHE CRITERION EC 99 years April 01, 2017 1,249 981,400 786 Uncompleted New SaleTHE ESTUARY Condominium 99 years March 29, 2017 1,119 960,000 858 2013 ResaleTHE SHAUGHNESSY Terrace 99 years April 03, 2017 3,272 1,350,000 413 2006 ResaleTHE VISIONAIRE EC 99 years March 29, 2017 721 612,000 849 Uncompleted New SaleTHE VISIONAIRE EC 99 years March 29, 2017 980 787,000 803 Uncompleted New SaleTHE VISIONAIRE EC 99 years March 29, 2017 872 722,000 828 Uncompleted New SaleTHE VISIONAIRE EC 99 years March 29, 2017 958 739,745 772 Uncompleted New SaleTHE VISIONAIRE EC 99 years March 30, 2017 980 795,500 812 Uncompleted New SaleTHE VISIONAIRE EC 99 years March 31, 2017 980 793,000 810 Uncompleted New SaleTHE VISIONAIRE EC 99 years April 02, 2017 1,023 828,000 810 Uncompleted New SaleTHE VISIONAIRE EC 99 years April 02, 2017 872 705,000 809 Uncompleted New SaleTHE VISIONAIRE EC 99 years April 02, 2017 980 815,000 832 Uncompleted New SaleTHE VISIONAIRE EC 99 years April 02, 2017 1,109 871,000 786 Uncompleted New SaleTHE VISIONAIRE EC 99 years April 02, 2017 958 740,500 773 Uncompleted New SaleTHE WISTERIA Apartment 99 years March 28, 2017 969 1,021,900 1,055 Uncompleted New SaleTHE WISTERIA Apartment 99 years March 28, 2017 969 1,089,812 1,125 Uncompleted New SaleTHE WISTERIA Apartment 99 years March 28, 2017 969 1,119,312 1,155 Uncompleted New SaleTHE WISTERIA Apartment 99 years March 31, 2017 969 1,060,612 1,095 Uncompleted New SaleTHE WISTERIA Apartment 99 years March 31, 2017 969 951,212 982 Uncompleted New SaleTHE WISTERIA Apartment 99 years April 01, 2017 969 1,014,512 1,047 Uncompleted New SaleDistrict 28 BELGRAVIA VILLAS Terrace Freehold March 31, 2017 3,584 2,700,000 753 Uncompleted New SaleCABANA Terrace 103 years April 03, 2017 3,068 1,820,000 593 2013 ResaleSELETAR HILLS ESTATE Terrace Freehold March 28, 2017 2,164 1,800,000 833 Unknown Resale
THEEDGE SINGAPORE | APRIL 17, 2017 • EP15
GAINS AND LOSSES
Top 10 gains and losses from March 28 to April 4
URA
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Most profi table deals
Non-profi table deals
PROJECT DISTRICT AREA (SQ FT) SOLD ON (2016) SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) PROFIT ($) PROFIT (%) ANNUALISED PROFIT (%) HOLDING PERIOD (YEARS)
NON-LANDED
1 The Draycott 10 2,637 March 31 1,604 Dec 12, 2005 872 1,930,000 84 6 11.3
2 Varsity Park Condominium 5 2,228 March 31 1,144 Nov 26, 2004 400 1,659,090 186 9 12.4
3 Wing on Life Garden 10 3,240 March 29 1,605 May 6, 2009 1,173 1,400,000 37 4 7.9
4 Botanic Gardens View 10 1,259 April 4 1,588 June 1, 2000 715 1,100,000 122 5 16.9
5 Sixth Avenue Ville 10 1,550 April 4 1,431 May 1, 1999 839 917,640 71 3 17.9
6 City Square Residences 8 1,496 March 28 1,203 Dec 12, 2006 677 787,000 78 6 10.3
7 Central Green Condominium 3 1,345 March 30 1,115 Jan 29, 2007 543 770,000 105 7 10.2
8 Hazel Park Condominium 23 1,335 April 3 1,019 April 24, 2006 472 730,000 116 7 11.0
9 Teresa Ville 4 1,356 April 3 1,018 Nov 12, 2002 498 705,000 104 5 14.4
10 The Gardens at Bishan 20 1,227 April 3 1,027 Jan 22, 2002 482 667,960 113 5 15.2
PROJECT DISTRICT AREA (SQ FT) SOLD ON (2016) SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) LOSS ($) LOSS (%) ANNUALISED LOSS (%) HOLDING PERIOD (YEARS)
1 Scotts Square 9 947 March 31 3,019 Aug 28, 2007 4,234 1,150,545 29 3 9.6
2 Duo Residences 7 1,528 March 30 1,963 June 6, 2014 2,576 937,000 24 9 2.8
3 St Regis Residences Singapore 10 2,486 March 30 2,292 Sept 14, 2009 2,649 887,900 13 2 7.5
4 The Solitaire 10 1,238 March 30 1,600 April 23, 2007 1,854 314,292 14 1 9.9
5 Killiney 118 9 570 March 28 1,841 Aug 31, 2012 2,331 280,000 21 5 4.6
6 The Cosmopolitan 9 1,324 March 29 1,949 Oct 25, 2012 2,153 270,000 9 2 4.4
7 V on Shenton 1 1,098 March 30 1,799 Sept 11, 2012 1,964 181,000 8 2 4.6
8 The Clift 1 527 April 4 1,858 June 20, 2011 2,197 179,000 15 3 5.8
9 Trilight 11 2,099 March 28 1,667 Dec 23, 2010 1,747 167,200 5 1 6.3
10 Rivergate 9 1,507 March 29 1,991 Oct 12, 2012 2,097 160,000 5 1 4.5
Note: Computed based on URA caveat data as at April 11 for private non-landed houses transacted between March 28 and April 4. The profit and loss computation excludes transaction costs such as stamp duties.
Four transactions with more than $1 million in profit each| BY LIN ZHIQIN |
Four private non-landed houses
were each sold for more than
$1 million in profit in the week
of March 28 to April 4.
On March 31, a 2,637 sq ft
unit at The Draycott in prime District
10 fetched the week’s biggest prof-
it of $1.93 million. The seller had
bought it at $2.3 million, or $872
psf, in December 2005 and sold it
at $4.23 million, or $1,604 psf. The
profit works out to 84%, or 6% a
year over 11 years.
The same unit previously changed
hands at a $420,000 profit in De-
cember 2005. The previous seller
had bought it at $713 psf in August
2005 and made a 22% profit in four
months.
A 2,637 sq ft unit at The Draycott was sold at a $1.93 million profit on March 31.Find the most affordable listing in the project at bit.ly/DraycottEdge.
So far this year, there have been
three rental contracts for units rang-
ing from 2,600 to 2,700 sq ft at The
Draycott, with the monthly rent rang-
ing from $6,800 to $7,200. The Dray-
cott is a freehold development with
132 units. It was completed in 1980.
A 2,228 sq ft unit at Varsity Park
Condominium fetched the sec-
ond-biggest profit of $1.66 million
for the week. The unit was bought
at $890,910, or $400 psf, from the de-
veloper in November 2004 and was
sold at $2.55 million, or $1,144 psf,
on March 31. The profit works out to
186%, or 9% a year over 12 years.
There were five rental contracts
for units ranging from 2,200 to 2,300
sq ft at Varsity Park Condominium in
2H2016, with the monthly rent av-
eraging $5,740. This implies a 3%
gross rental yield for the recently
transacted unit. The leasehold Varsi-
ty Park Condominium is located op-
posite the Kent Ridge Bus Terminal
and the National University of Singa-
pore. It was completed in 2008 and
has 530 units.
Based on the matching of URA ca-
veat data, there have been 299 prof-
itable and five unprofitable transac-
tions at Varsity Park Condominium.
The losses range from $38,052 to
$180,000. The most recent unprofit-
able transaction happened in March
this year when a 1,475 sq ft unit was
sold at a $180,000 loss. The seller had
bought it at $1.78 million, or $1,207
psf, in September 2012 and sold it at
$1.6 million, or $1,085 psf.
On March 29, a 3,240 sq ft unit
at Wing on Life Garden in prime
District 10 fetched the third-biggest
profit of $1.4 million for the week.
The seller bought it at $3.8 million,
or $1,173 psf, in May 2009 and sold
it at $5.2 million, or $1,605 psf. The
profit works out to 37%, or 4% a
year over eight years.
Based on the matching of URA
caveat data, the unit has changed
hands four times. It was previous-
ly sold at $1,080 psf in 1997, $642
psf in 1998 and $1,173 psf in 2009.
So far this year, there have been
three rental contracts for units above
3,000 sq ft at Wing on Life Garden,
with the monthly rent ranging from
$7,500 to $8,000. Wing on Life Gar-
den is a freehold development with
81 units. It was completed in 1982.
A 1,259 sq ft unit at Botanic Gar-
dens View in prime District 10 fetched
a $1.1 million profit on April 4. The
seller had bought it at $900,000, or
$715 psf, in June 2000 and sold it at
$2 million, or $1,588 psf. The prof-
it works out to 122% or, 5% a year
over 17 years.
There were two rental contracts for
units ranging from 1,200 to 1,300 sq
ft at Botanic Gardens View in 2H2016,
with the monthly rent at $2,800 and
$3,000. The freehold Botanic Gardens
View is located across Cluny Road
from Singapore Botanic Gardens. It
is near the upcoming Napier MRT
station and has 144 units.
Based on the matching of URA ca-
veat data, there have been 25 profit-
able and four unprofitable transac-
tions at Botanic Gardens View. The
most recent unprofitable transaction
happened in January 2006, when a
1,410 sq ft unit was sold at a $30,000
loss. The seller had bought the unit
at $624 psf in April 2004 and sold it
at $603 psf.
To date, there have been 299 profitable and five unprofitable transactions at Varsity Park Condominium. Find the most affordable listing in the project at bit.ly/VarsityParkEdge. E
PICT
URES
: SAM
UEL
ISAA
C CH
UA/T
HE E
DGE
SIN
GAP
ORE
EP16 • THEEDGE SINGAPORE | APRIL 17, 2017
DEAL WATCH
| BY TAN CHEE YUEN |
A 1,300 sq ft, three- bedroom unit
at Clover By The Park was
listed on TheEdge Property.
com for $1.49 million ($1,145
psf). “The unit is currently
owner-occupied and in good condition,”
says Ron Teo of PropNex Real ty, who
is marketing the property. The owner
is said to be a Singaporean.
Clover By The Park is a 99-year
leasehold condominium on Bishan
Street 25. Developed by Sim Lian
Group and completed in 2011, it
contains two 39-storey blocks with
a total of 616 units. Typical units
in the development are three- and
four-bedroom apartments, in addi-
tion to suites and penthouses.
The main attraction of the project
is its location next to the Bishan-Ang
Mo Kio Park, as well as its proximity
to top schools such as Ai Tong Pri-
mary School, Catholic High School
and Raffles Institution.
“A unit facing the park commands
a premium of about $200,000 over an-
other similar-sized one that does not
offer a park view,” says Teo. “ However,
the price difference also depends on
other attributes, such as floor level
and the condition of the property.”
Recent transactions at Clover By The Park
CONTRACT DATE (2017) AREA (SQ FT) PRICE ($ MIL) PRICE ($ PSF)
March 28 1,216 1.525 1,254
Feb 24 1,765 2.2 1,246
Feb 15 1,292 1.6 1,239
Feb 6 1,733 2.0 1,154
Jan 31 1,281 1.6 1,249
TABL
ES: U
RA, T
HE E
DGE
PRO
PERT
Y
Recent rental contracts for 1,200to 1,300 sq ft unitsat Clover By The Park
LEASE DATE MONTHLY RENT(2017) $ $ PSF
February 3,000 2.40
February 3,200 2.60
February 3,100 2.50
January 4,050 3.20
January 3,700 3.00
Clover By The Park’s key attraction is that it is located next to the Bishan-Ang Mo Kio Park and close to various top schools E
$1.49 mil for a unit at Clover By The Park
ALBE
RT C
HUA/
THE
EDG
E SI
NG
APO
RE
The latest transaction at Clover
By The Park was for a 1,216 sq ft,
three-bedroom unit that fetched $1.53
million ($1,254 psf), according to a
caveat lodged on March 28. On Feb 24,
a 1,765 sq ft, four-bedroom unit
changed hands for $2.2 million
($1,246 psf). A 1,292 sq ft, three-bed-
room unit fetched $1.6 million ($1,239
psf) that same month.
There were two other transactions
this year: A 1,733 sq ft, four-bedroom
unit fetched $2 million ($1,154 psf)
on Feb 6 and a 1,281 sq ft, three-bed-
room unit was sold for $1.6 million
($1,249 psf) on Jan 31.
Five 1,200 to 1,300 sq ft, three-bed-
room units were leased for monthly
rents of between $3,000 and $4,050
in January and February, according to
URA rental data. Based on the monthly
rate, this translates into a gross rental
yield of 2.4% to 3.3% per annum.
Given the development’s location
near top schools, it is likely to attract
owner-occupiers, especially families.
Visit tinyurl.com/DealWatch-S775
for more information.