Category: Property News

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

New record high of $2,441 psf achieved by the Beaumont

New record high of $2,441 psf achieved by the Beaumont

Based in Singapore, EdgeProp Of Florence Residences set a new psf price between November 7 and November 14. Beaumont’s record psf price of $2,441 put it at the top of the Florence Residences. On November 9th, a two-bedroom unit on the fifth floor with 1,475 sq ft was resold for $3.6 million. The Beaumont has never before seen a sale of a unit for more than $2,400 psf. An earlier sale in August 2007 of a 990 sq ft unit at the same development had achieved $2.3 million ($2,323 psf), the previous psf price record. On November 9th, a 1,475-square-foot unit sold for $2.88 million ($1,953 per square foot), making it the first resale transaction at the complex since September 2018. Situated on Devonshire Road in the desirable Somerset neighborhood of Orchard Road, The Beaumont is a 64-unit boutique condominium. Nearby shopping centers include 313@Somerset, Mandarin Gallery, and Ngee Ann City, while the Somerset MRT Station is only a two-minute stroll away. There are two 10-story buildings in freehold construction with a variety of floor plans, from 775 square feet for one-bedroom homes to 1,948 square feet for three-bedroom units. In 1985, the project was finished. A group of Beaumont owners have been trying to sell the hotel together for some now. The Beaumont was put out for tender in December 2021 with a $478 million target price. Subsequently, in July 2022, it was reintroduced to the market with a revised, reduced guide price of $468 million. Unfortunately, no one was able to purchase either tender. Similarly, the psf-price of the Nassim Hill apartment known as The Loft hit a new high during the time frame under consideration. For $1.78 million, or $2,362 per square foot, a third-floor, 753 square foot, one-bedroom unit was sold on November 7th. A 1,830 sq ft unit sold for $4.21 million, or $2,300 per square foot, in September 2007, which was the previous high. The seller paid $1.54 million ($2,044 psf) for the unit that was sold on November 7th. This meant that they made a tidy sum of $240,000 from the deal. In 2002, construction on The Loft, a 99-year leasehold luxury condo, was finished. There are 77 apartments spread throughout the four stories of this low-rise complex. Studios start at 710 square feet, two-bedroom apartments at 1,033 square feet, three-bedroom apartments at 1,432 square feet, and four-bedroom apartments at 1,830 square feet. Tanglin Mall and the Singapore Botanic Gardens are within walking distance of The Loft, which is located within the elite Nassim Hill residential enclave in desirable District 10. It just takes ten minutes to walk to the Napier MRT Station on the Thomson-East Coast Line. The developer sold an 829 sq ft flat at 19 Nassim on November 10, setting a new psf-price low for the planned complex across the street from The Loft. Selling for $2.52 million, or $3,036 per square foot, was the third-floor, two-bedroom unit. Located on a single 10-story block, 19 Nassim is a 99-year leasehold high-rise with 101 flats. Apartments ranging in size from 538 to 1,830 square feet are available in the complex, with one to three bedrooms available. Private lift lobbies are available to certain two-bedroom flats and all three-bedroom units. The temporary occupation permit is expected to be issued to the condo before the year’s end. At 19 Nassim, three further units have been sold thus far this year. The following units were sold in February: one 1,410 sq ft unit for $5.5 million ($3,906 psf) and another 1,475 sq ft unit for $5.6 million ($3,815 psf). Additionally, a 538 sq ft unit sold for $2.09 million ($3,876 psf). The second and third flats were sold in January.