Year: 2024

Over 5,000 people attend the inaugural weekend previews of The Arcady at Boon Keng and Hillhaven

Over 5,000 people attend the inaugural weekend previews of The Arcady at Boon Keng and Hillhaven

Despite the rainy weather over the weekend, almost 3,000 people flocked to The Arcady’s showflat at Boon Keng near The Continuum for its inaugural preview on January 6 and 7. Over 2,000 people visited the showflat at Hillhaven, another new property at Hillview Rise, this past weekend. The first two new projects to preview this year are The Arcady at Boon Keng and Hillhaven near the Continuum Showflat. As a result, the high turnout of prospective customers indicates to the market that local consumers are eager to establish a new market this year. District 12’s Serangoon Road is home to the freehold development known as The Arcady at Boon Keng. Redeveloped from the original Euro-Asia Apartments, the 172-unit condominium was bought en bloc in 2022 for $222.18 million by a group headed by local real estate developer KSH Holdings. Additional joint venture partners consist of H10 Holdings and SLB Development. The new building has a variety of units, from 527 square feet to 1,625 square feet, that range in size from one bedroom plus study to four bedrooms plus study. Two penthouse suites totaling 2,433 and 2,583 square feet are also available. Per the developers, the starting price per square foot will be $2,500. A KSH Holdings spokesperson, in response to questions from EdgeProp Singapore, stated that the developers are “thrilled” by the strong response from buyers to their project. The sales team was taken aback by the strong response, and more discussion tables have been set up throughout the showflat to accommodate a large number of people. The public booking of units will open on Saturday, January 20, while the public preview will run through Thursday, January 18. Over the weekend, the 99-year leasehold development known as Hillhaven, a joint venture between Japanese company Sekisui House and Singapore’s Far East Organization, was also unveiled. The 341-unit complex is situated in District 23 at Hillview Rise. When Far East Organization and Sekisui House made the highest bid of $320.78 million for the government land sale (GLS) site in November 2022, they were given the site. EdgeProp Singapore predicts that Hillhaven would break even at $2,035 per square foot, despite the fact that the developers have not disclosed the project’s anticipated selling price to the public. A variety of two- to four-bedroom unit options, with sizes ranging from 678 to 1,636 square feet, are available in Hillhaven. Almost 2,000 people visited the showflat during the course of the Jan. 6–7 weekend, when the project was offered for preview. Suggested Article: $2,286 psf is a new high for Jadescape

$2,286 psf is a new high for Jadescape

$2,286 psf is a new high for Jadescape

SINGAPORE – From December 15 to December 26, 2023, Jadescape near Tembusu Grand recorded the highest price per square foot of any unit. The December 15 sale of a 1,421-square-foot, four-bedroom home for $3.25 million set a new high price per square foot of $2,286. This is more than the previous peak of $2,283 per square foot, which was reached in August 2023 when a two-bedroom apartment sold for $1.75 million. For $2.48 million ($1,747 psf), the developer sold the condo to the seller of the four-bedroom property in September 2020. This indicates that the vendor earned almost $770,000 in profit. Thirteen of the sixty transactions at the condo last year were resales, and the remaining forty-seven were subscales. Located in Bishan, District 20, near Tembusu Grand Showflat Jadescape is a 99-year leasehold condominium near the intersection of Marymount Road and Shunfu Road. Completed in 2022, the 1,206-unit complex consists of seven residential towers. The apartments range in size from 527 square feet to 2,099 square feet, with one to five bedrooms. After the property’s opening in September 2018, the developer sold every unit by September 2022, according to reservations filed with the URA. The former Shunfu Ville estate, owned by the Housing and Urban Development Co., is being redeveloped as Jadescape. The MacRitchie Reservoir Park is not far from the condominium. The Marymount and Upper Thomson MRT Stations provide access to it. Sky Vue, a different 99-year leasehold condo, ranked second on the list. On December 18, a 1,141-square-foot, three-bedroom property sold for $2.5 million, setting a new high of $2,191 per square foot. This is more than the previous record set on December 1, 2023, when a unit of a similar size sold for $2.48 million ($2,174 psf). A 2,153 square foot, three-bedroom unit sold for $4.5 million ($2,090 psf), setting a previous record price per square foot at the building. That transaction happened in October 2016. The seller lost $2.57 million since they paid $7.07 million ($3,286 psf) for the apartment in July 2007 instead of the developer’s asking price. The unit was sold for the third time last year on December 19. The first sale occurred in May, when a 2,842-square-foot, four-bedroom home was purchased for $8.1 million, or $2,850 per square foot. In November, a comparable-sized unit was sold for $9.8 million ($3,449 per square foot) in the second transaction. Situated on Grange Road, Cliveden at Grange is a freehold condominium. There are 110 three- to five-bedroom apartments with 2,153 to 6,028 square feet. Suggested Article: New record high of $2,441 psf achieved by the Beaumont