DoneDeals
THEEDGE SINGAPORE | September 30, 2013 •1
Done Deals
THEEDGE SINGAPORE | September 30, 2013 • 1
bRYAN tAY, THE EDGE SINGAPORE
The Edge Singapore Property Transaction Tracker
A four-bedroom penthouse apartment at 8 Nassim Hill was sold for $8.027 million ($2,486 psf)
A 3,649 sq ft four-bedroom apartment at the 292-unit Regency Park on Nathan Road was sold for $6.9 million ($1,891 psf)
Prime deals above $6 mil | BY ADELE TEO |
T
here were several noteworthy transactions in the prime districts over the week of Sept 6 to 13. The biggest deal in the non-landed housing segment was the sale of a 3,229 sq ft four-bedroom penthouse apartment at 8 Nassim Hill for $8.027 million ($2,486 psf), according to a caveat lodged with URA Realis on Sept 10. This was one of the last six units (three penthouses and three townhouses) that the developer of the exclusive residential development had offered for sale in April. So far, five of the six have already been sold, says Steven Ming, deputy managing director and head of investment sales at Savills Singapore, the appointed marketing agent for the property. The developer had initially planned to keep the six units as an investment property for recurring rental income. Upon receiving unsolicited interest to acquire the units, however, it decided to release them for sale, he explains. Buyers were said to be a mix of foreigners and Singaporeans. A boutique residential project with a total of 16 townhouses and penthouses, 8 Nassim Hill was jointly developed by listed BBR Holdings and privately held Shing Kwan, and completed in 2010.
A four-bedroom unit on the 18th floor at Grange Infinite was sold for $6.38 million ($2,380 psf)
The next highest-value transaction over the same week was that of a 3,649 sq ft unit on the 24th floor of one of the tower blocks at the freehold Regency Park on Nathan Road that changed hands for $6.9 million ($1,891 psf). The unit last traded for $4.3 million ($1,178 psf) in 2009. Prior to that, it was sold for $4.6 million ($1,261 psf) in July 1997. The 292-unit Regency Park comprises exclusively three- and fourbedroom apartments and was completed in 1990. The project has a mix of low- and high-rise blocks on a sprawling 500,000 sq ft freehold site. It is situated in the vicinity of the exclusive Bishopsgate Good Class Bungalow. Meanwhile, at the 68-unit freehold condominium, Grange Infinite, a 2,680 sq ft four-bedroom unit on the 18th floor of the 36-storey tower was sold for $6.38 million ($2,380 psf). The luxury project was jointly developed by Chip Eng Seng and Citadel on the former Grange Tower site, adjacent to the Indian High Commission in Grange Road, and completed in 2011. The project was launched for sale in late 2007, and some units were sold at $3,025 to $3,292 psf. In March 2008, a group of investment funds under ARA Asset Management scooped up the remaining 53 units for $388 million, or an average of $2,650 psf. The latest transaction is believed to be that of one of the units owned by the funds, which had started to offload units from early 2010. In the neighbourhood of Jervois Road, the latest launch was that
2 • THEEDGE SINGAPORE | September 30, 2013
Done Deals
Three sub-sales at Waterbank at Dakota saw prices ranging from $1,730 to $1,874 psf
A terraced house at Jervois Ville recently changed hands for $4.8 million. It was last sold in 1998, for $1.17 million.
of UIC and Singapore Land’s joint development, the 109-unit Mon Jervois, in March at an average of $2,100 to $2,200 psf. Two recent transactions at Mon Jervois were that of identical 1,905 sq ft units, which were sold for $3.922 million ($2,059 psf) and $3.955 million ($2,076 psf) respectively. Across the road from Mon Jervois is Jervois Ville, a row of 13 terraced houses arrranged in a semi-circle and completed in 1989. One of the terraced houses, measuring 2,260 sq ft, was sold recently for $4.8 million. It last changed hands for $1.17 million, or $520 psf, in November 1998. There were no other transactions in the development, based on records in the URA Realis dating back to January 1995. “There has always been interest in high-end properties,” says Samuel Eyo, director of Savills Prestige Homes. “The main draw is
Established in 1855, Savills is a global real estate services provider listed on the London Stock Exchange with rich heritage.
if the price is 13% to 15% lower than the prevailing market price, which will offset the additional buyer’s stamp duty. Such properties in the prime Orchard Road area will attract not just Singaporean investors but also foreigners buying for their own stay.” On the city fringe, one development stood out with three subsales done over the week of Sept 6 to 17. The project is Waterbank at Dakota, a 616-unit private condo by UOL Group that obtained temporary occupation permit in 2Q2013. The most recent transaction at Waterbank was that of a 484 sq ft one-bedroom unit, sold for $838,000 ($1,730 psf). Such units have asking rents of $2,900 to $3,000 a month, with rental yields of 4.15% to 4.3%. In another recent transaction, a 624 sq ft two-bedroom apartment on the 19th floor of one of the seven blocks changed hands for $1.17 million, or $1,874 psf, an all-time-high for the condo project since it was launched in April 2010. The unit was purchased in May 2010 for just $879,000, or $1,408 psf. Thus, the owner realised a price appreciation of 33.1% in just over three years. Another 624 sq ft two-bedroom unit on the ninth floor of another block was sold for $1.115 million ($1,786 psf). The unit was first purchased for $769,000 ($1,232 psf) in May 2010 and the owner saw a gain of 45% in just three years. Such two-bedroom apartments are popular with investors, as the project offers views of the Geylang River and is within walking distance of the Dakota MRT station on the Circle Line. The 624 sq ft two-bedroom units are listed on PropertyGuru, with asking rents of $3,300 to $3,500 a month, translating into a yield E of 3.4% to 3.6%.
Savills, your world class property adviser in global capitals.
Great news for your capital. showcase.savills.com.sg
Savills (Singapore) Pte Ltd | +65 6100 3266 | international.resi@savills.com.sg | Agency No. L3009688B
THEEDGE SINGAPORE | September 30, 2013 •3
Done Deals
Apartment and condo transactions with contract dates from Sept 6 to 13 Project Property Tenure CONTRACT Type DATE
Floor Area Transacted Unit Price Completion (sq ft) Price ($) ($ psf) Date
Done Deals Type of Purchaser Sale Address
District 1 V ON SHENTON Apartment 99 years September 6, 2013 883 $2,082,000 $2,359 Uncompleted New Sale District 3 MERAPRIME Condominium 99 years September 9, 2013 1,313 $1,900,000 $1,447 2006 Resale THE METROPOLITAN CONDOMINIUM Condominium 99 years September 9, 2013 1,399 $1,890,000 $1,351 2009 Resale PEARL BANK APARTMENT Apartment 99 years September 9, 2013 1,755 $1,520,000 $866 1976 Resale District 4 THE INTERLACE Condominium 99 years September 9, 2013 1,259 $1,740,000 $1,382 Uncompleted Sub Sale District 5 SPRINGWOOD Terrace House Freehold September 9, 2013 1,851 $2,880,000 $1,559 1990 Resale THE ROCHESTER Apartment 99 years September 10, 2013 861 $1,260,000 $1,463 Uncompleted Sub Sale WEST PARK REGENCY Terrace House Freehold September 11, 2013 1,905 $1,508,000 $792 1996 Resale District 8 PARC SOMME Apartment 99 years September 6, 2013 441 $706,000 $1,600 2012 Resale CITY SQUARE RESIDENCES Condominium Freehold September 6, 2013 1,518 $2,000,000 $1,318 2008 Resale District 9 TWIN PEAKS Condominium 99 years September 9, 2013 1,604 $4,567,050 $2,848 Uncompleted New Sale ALBA Apartment Freehold September 11, 2013 2,250 $6,290,300 $2,796 Uncompleted New Sale GRANGE INFINITE Condominium Freehold September 9, 2013 2,680 $6,378,000 $2,380 2011 Resale ILLUMINAIRE ON DEVONSHIRE Apartment Freehold September 6, 2013 721 $1,660,000 $2,302 2011 Resale CAVENAGH GARDENS Apartment Freehold September 9, 2013 1,206 $1,610,000 $1,335 Unknown Resale WILKIE 87 Apartment Freehold September 9, 2013 1,281 $1,330,000 $1,038 2004 Resale District 10 8 NASSIM HILL Apartment Freehold September 10, 2013 3,229 $8,027,000 $2,486 2010 Resale THE SIENA Apartment 99 years September 6, 2013 850 $2,025,918 $2,382 Uncompleted New Sale JERVOIS VILLE Terrace House Freehold September 9, 2013 2,260 $4,788,000 $2,122 1989 Resale MON JERVOIS Condominium 99 years September 9, 2013 1,905 $3,955,000 $2,076 Uncompleted New Sale MON JERVOIS Condominium 99 years September 9, 2013 1,905 $3,922,000 $2,059 Uncompleted New Sale REGENCY PARK Condominium Freehold September 11, 2013 3,649 $6,900,000 $1,891 1990 Resale VALLEY PARK Condominium 999 years September 6, 2013 1,216 $2,050,000 $1,685 1997 Resale MON JERVOIS Condominium 99 years September 10, 2013 1,582 $2,647,000 $1,673 Uncompleted New Sale VIZ AT HOLLAND Condominium Freehold September 12, 2013 1,259 $2,100,000 $1,667 2008 Resale District 11 NINETEEN SHELFORD ROAD Condominium Freehold September 6, 2013 915 $1,350,000 $1,476 1997 Resale NOVENA HILL Apartment Freehold September 12, 2013 710 $1,030,000 $1,450 Unknown Resale CHANCERY COURT Condominium 99 years September 12, 2013 926 $1,260,000 $1,361 1981 Resale LA SUISSE Condominium 999 years September 11, 2013 1,679 $1,930,000 $1,149 1993 Resale WATTEN RESIDENCES Terrace House Freehold September 13, 2013 3,111 $3,350,000 $1,077 2011 Resale THE ARCADIA Condominium 99 years September 9, 2013 3,810 $4,000,000 $1,050 1983 Resale
Private HDB Private HDB HDB Private Private HDB Private Private Private Private Private Private Private Private Private Private Private Private Private Private HDB Private Private Private Private Private Private HDB Private
4 • THEEDGE SINGAPORE | September 30, 2013
Done Deals
Apartment and condo transactions with contract dates from Sept 6 to 13
Project Property Tenure CONTRACT Floor Area Transacted Unit Price Completion Type of Purchaser Type DATE (sq ft) Price ($) ($ psf) Date Sale Address District 14 WATERBANK AT DAKOTA Condominium 99 years September 9, 2013 624 $1,170,000 $1,874 2013 Sub Sale HDB WATERBANK AT DAKOTA Condominium 99 years September 10, 2013 624 $1,115,000 $1,786 2013 Sub Sale Private WATERBANK AT DAKOTA Condominium 99 years September 12, 2013 484 $838,000 $1,730 2013 Sub Sale Private D’OASIA Apartment Freehold September 10, 2013 1,098 $1,380,000 $1,257 2010 Resale HDB CITY PLAZA Apartment Freehold September 13, 2013 915 $970,000 $1,060 1981 Resale Private THE ALCOVE Apartment 99 years September 6, 2013 2,422 $1,610,000 $665 2004 Resale Private District 15 THE SEA VIEW Condominium Freehold September 11, 2013 1,647 $3,000,000 $1,822 2008 Resale HDB SILVERSEA Condominium 99 years September 10, 2013 1,690 $3,000,000 $1,775 Uncompleted Sub Sale Private JUPITER 18 Apartment Freehold September 10, 2013 388 $620,000 $1,600 Uncompleted Sub Sale HDB PEBBLE BAY Condominium 99 years September 12, 2013 2,745 $4,350,000 $1,585 1997 Resale Private HAIG 162 Apartment Freehold September 10, 2013 861 $1,350,000 $1,568 2013 Sub Sale Private PEBBLE BAY Condominium 99 years September 13, 2013 1,894 $2,940,000 $1,552 1997 Resale Private THE ESTA Condominium Freehold September 11, 2013 1,346 $2,030,000 $1,509 2008 Resale Private PEBBLE BAY Condominium 99 years September 10, 2013 1,894 $2,500,000 $1,320 1997 Resale Private WATER PLACE Condominium 99 years September 6, 2013 1,227 $1,600,000 $1,304 2004 Resale HDB SANCTUARY GREEN Condominium 99 years September 12, 2013 1,119 $1,360,000 $1,215 2003 Resale Private SERAYA BREEZE Apartment Freehold September 6, 2013 1,001 $1,128,000 $1,127 2001 Resale Private BLU CORAL Condominium Freehold September 6, 2013 1,163 $1,300,000 $1,118 2009 Resale Private MOUNTBATTEN SUITES Apartment Freehold September 9, 2013 700 $750,000 $1,072 2012 Resale HDB DUNMAN VIEW Condominium 99 years September 12, 2013 1,216 $1,300,000 $1,069 2004 Resale Private FRANKEL ESTATE Semi-Detached House Freehold September 12, 2013 3,606 $3,500,000 $971 1985 Resale Private LAGOON VIEW Apartment 99 years September 6, 2013 1,647 $1,270,000 $771 Unknown Resale Private District 16 HARVEY RESIDENCES Terrace House Freehold September 6, 2013 1,744 $3,100,000 $1,778 2005 Resale Private COSTA DEL SOL Condominium 99 years September 9, 2013 1,561 $2,250,000 $1,442 2003 Resale Private BEDOK RESIDENCES Apartment 99 years September 12, 2013 1,507 $1,935,000 $1,284 Uncompleted New Sale Private URBAN VISTA Condominium 99 years September 9, 2013 980 $1,238,000 $1,264 Uncompleted New Sale Private COUNTRY PARK CONDOMINIUM Condominium Freehold September 10, 2013 1,173 $1,400,000 $1,193 2003 Resale Private BAYSHORE PARK Condominium 99 years September 9, 2013 1,292 $1,448,000 $1,121 1986 Resale Private LAGUNA GREEN Condominium 99 years September 6, 2013 1,604 $1,720,000 $1,072 1998 Resale Private SUNHAVEN Condominium Freehold September 10, 2013 1,087 $1,150,000 $1,058 2002 Resale HDB EASTWOOD GREEN TERRACES Terrace House 99 years September 11, 2013 1,938 $2,000,000 $1,033 1997 Resale Private EAST MEADOWS Condominium 99 years September 12, 2013 1,464 $1,500,000 $1,025 2002 Resale Private KEW GATE Terrace House 99 years September 11, 2013 2,250 $1,150,000 $511 1996 Resale Private District 17 CHANGI GARDEN Condominium Freehold September 6, 2013 1,399 $1,115,000 $797 1980 Resale HDB District 18 NV RESIDENCES Condominium 99 years September 12, 2013 1,109 $1,168,000 $1,053 Unknown Resale Private LIVIA Condominium 99 years September 6, 2013 1,539 $1,460,000 $949 Unknown Resale Private DOUBLE BAY RESIDENCES Condominium 99 years September 6, 2013 3,111 $2,700,000 $868 2012 Resale Private MELVILLE PARK Condominium 99 years September 6, 2013 990 $835,000 $843 1996 Resale HDB WATERCOLOURS Executive Condominium 99 years September 9, 2013 958 $698,500 $729 Uncompleted New Sale HDB CITYLIFE@TAMPINES Executive Condominium 99 years September 9, 2013 1,658 $1,194,700 $721 Uncompleted New Sale HDB District 19 THE TEMBUSU Condominium Freehold September 9, 2013 484 $800,000 $1,652 Uncompleted New Sale Private THE TEMBUSU Condominium Freehold September 10, 2013 484 $798,000 $1,647 Uncompleted New Sale HDB SERANGOON GARDEN ESTATE Terrace House 999 years September 6, 2013 2,164 $3,500,000 $1,621 Unknown Resale Private THE TEMBUSU Condominium Freehold September 12, 2013 1,367 $2,214,000 $1,620 Uncompleted New Sale HDB THE TEMBUSU Condominium Freehold September 6, 2013 753 $1,206,000 $1,601 Uncompleted New Sale Private THE SCALA Apartment 99 years September 6, 2013 474 $758,000 $1,600 Uncompleted Sub Sale Private THE TEMBUSU Condominium Freehold September 10, 2013 753 $1,204,000 $1,598 Uncompleted New Sale HDB THE TEMBUSU Condominium Freehold September 10, 2013 753 $1,182,000 $1,569 Uncompleted New Sale Private THE TEMBUSU Condominium Freehold September 11, 2013 753 $1,180,000 $1,566 Uncompleted New Sale Private THE TEMBUSU Condominium Freehold September 10, 2013 753 $1,165,000 $1,546 Uncompleted New Sale HDB THE TEMBUSU Condominium Freehold September 6, 2013 753 $1,150,520 $1,527 Uncompleted New Sale Private THE TEMBUSU Condominium Freehold September 11, 2013 1,216 $1,841,000 $1,514 Uncompleted New Sale Private THE TEMBUSU Condominium Freehold September 10, 2013 1,044 $1,542,000 $1,477 Uncompleted New Sale Private KENSINGTON SQUARE Apartment Freehold September 12, 2013 431 $635,000 $1,475 Uncompleted New Sale HDB THE TEMBUSU Condominium Freehold September 9, 2013 1,044 $1,524,000 $1,460 Uncompleted New Sale Private THE TEMBUSU Condominium Freehold September 12, 2013 753 $1,084,000 $1,439 Uncompleted New Sale Private THE CHUAN Condominium 999 years September 13, 2013 1,582 $2,020,000 $1,277 2007 Resale Private KENSINGTON SQUARE Apartment Freehold September 10, 2013 904 $1,130,000 $1,250 Uncompleted New Sale Private KOVAN MELODY Condominium 99 years September 6, 2013 1,302 $1,500,000 $1,152 2006 Resale Private
THEEDGE SINGAPORE | September 30, 2013 •5
Done Deals
Project Property Tenure CONTRACT Type DATE
Floor Area Transacted Unit Price Completion (sq ft) Price ($) ($ psf) Date
Type of Purchaser Sale Address
LA FIESTA Condominium 99 years September 11, 2013 990 $1,137,000 $1,148 Uncompleted New Sale THE SPRINGBLOOM Condominium 99 years September 9, 2013 1,130 $1,280,000 $1,133 1999 Resale 55 PAYA LEBAR CRESCENT Detached House Freehold September 6, 2013 9,182 $8,700,000 $948 Unknown Resale ECOPOLITAN Executive Condominium 99 years September 12, 2013 1,216 $968,500 $796 Uncompleted New Sale ECOPOLITAN Executive Condominium 99 years September 9, 2013 893 $706,000 $790 Uncompleted New Sale THE RIVERVALE Executive Condominium 99 years September 6, 2013 1,259 $990,000 $786 2000 Resale District 20 THOMSON GARDEN ESTATE Terrace House Freehold September 6, 2013 1,141 $1,978,000 $1,742 Unknown Resale 70 GARDENIA ROAD Terrace House Freehold September 12, 2013 1,959 $3,350,000 $1,708 Unknown Resale THE GARDENS AT BISHAN Condominium 99 years September 6, 2013 883 $1,031,000 $1,168 2004 Resale SIN MING PLAZA Apartment Freehold September 6, 2013 1,442 $1,620,000 $1,123 1992 Resale NUOVO Executive Condominium 99 years September 6, 2013 1,281 $1,200,000 $937 2004 Resale District 21 THE CASCADIA Condominium Freehold September 6, 2013 1,421 $2,579,000 $1,815 2010 Resale SUITES DE LAUREL Apartment 999 years September 11, 2013 721 $1,200,000 $1,664 2012 Sub Sale 852 DUNEARN ROAD Semi-Detached House 99 years September 11, 2013 850 $1,160,000 $1,364 Unknown Resale SHERWOOD CONDOMINIUM Condominium Freehold September 12, 2013 936 $1,119,020 $1,195 1998 Resale SUMMERHILL Condominium Freehold September 9, 2013 1,604 $1,815,000 $1,132 2002 Resale SIGNATURE PARK Condominium Freehold September 6, 2013 1,690 $1,760,000 $1,041 1998 Resale District 22 CASPIAN Condominium 99 years September 11, 2013 872 $1,050,000 $1,204 Unknown Resale THE MAYFAIR Condominium 99 years September 10, 2013 1,163 $1,120,000 $963 2000 Resale PARC OASIS Condominium 99 years September 11, 2013 1,076 $1,000,000 $929 1994 Resale WESTVILLE Semi-Detached House 99 years September 9, 2013 2,153 $1,820,000 $845 1997 Resale THE FLORAVALE Executive Condominium 99 years September 13, 2013 1,238 $920,000 $743 2000 Resale THE FLORAVALE Executive Condominium 99 years September 11, 2013 1,399 $930,000 $665 2000 Resale District 23 5 CHESTNUT LANE Terrace House Freehold September 6, 2013 1,668 $2,450,000 $1,468 1994 Resale PARK NATURA Condominium Freehold September 9, 2013 1,378 $1,600,000 $1,161 2011 Resale HILLINGTON GREEN Condominium 999 years September 6, 2013 990 $1,088,000 $1,099 2002 Resale GLENDALE PARK Condominium Freehold September 13, 2013 1,249 $1,300,000 $1,041 2000 Resale YEWTEE RESIDENCES Apartment 99 years September 12, 2013 1,206 $1,200,000 $995 2008 Resale PALM GARDENS Condominium 99 years September 12, 2013 1,206 $905,000 $751 2000 Resale WINDERMERE Executive Condominium 99 years September 9, 2013 1,281 $920,000 $718 1999 Resale THE MADEIRA Condominium 99 years September 12, 2013 2,659 $1,880,000 $707 2003 Resale MERA GARDENS Detached House 99 years September 12, 2013 6,318 $4,100,000 $649 1998 Resale District 25 LA CASA Executive Condominium 99 years September 9, 2013 980 $800,000 $817 2008 Resale LA CASA Executive Condominium 99 years September 6, 2013 1,141 $915,000 $802 2008 Resale FORESTVILLE Executive Condominium 99 years September 11, 2013 1,399 $1,117,350 $798 Uncompleted New Sale FORESTVILLE Executive Condominium 99 years September 9, 2013 1,033 $790,400 $765 Uncompleted New Sale TWIN FOUNTAINS Executive Condominium 99 years September 6, 2013 1,055 $803,440 $762 Uncompleted New Sale TWIN FOUNTAINS Executive Condominium 99 years September 11, 2013 1,033 $785,700 $760 Uncompleted New Sale FORESTVILLE Executive Condominium 99 years September 10, 2013 1,259 $946,405 $751 Uncompleted New Sale FORESTVILLE Executive Condominium 99 years September 6, 2013 1,292 $968,370 $750 Uncompleted New Sale FORESTVILLE Executive Condominium 99 years September 11, 2013 1,098 $817,000 $744 Uncompleted New Sale NORTHOAKS Executive Condominium 99 years September 11, 2013 1,238 $905,000 $731 2000 Resale WOODSVALE Executive Condominium 99 years September 6, 2013 1,238 $902,000 $729 2000 Resale FORESTVILLE Executive Condominium 99 years September 10, 2013 1,066 $769,500 $722 Uncompleted New Sale FORESTVILLE Executive Condominium 99 years September 9, 2013 1,765 $1,163,190 $659 Uncompleted New Sale District 26 THE CALROSE Condominium Freehold September 11, 2013 1,421 $1,738,000 $1,223 2007 Resale LENTOR VILLAS Terrace House Freehold September 9, 2013 3,111 $3,218,000 $1,036 1997 Resale District 27 THE ESTUARY Condominium 99 years September 6, 2013 1,216 $1,228,000 $1,010 2013 Sub Sale EUPHONY GARDENS Condominium 99 years September 6, 2013 732 $668,000 $913 2001 Resale District 28 H2O RESIDENCES Condominium 99 years September 11, 2013 1,130 $1,089,000 $964 Uncompleted New Sale LUSH ACRES Executive Condominium 99 years September 6, 2013 1,238 $990,400 $800 Uncompleted New Sale
DISCLAIMER: Source: URA Realis. Updated Sept 24, 2013. 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.
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