DoneDeals
THEEDGE SINGAPORE | AUGUST 26, 2013 •1
Done Deals
THEEDGE SINGAPORE | AUGUST 26, 2013 • 1
Byran Tay, THE EDGE SINGAPORE
The Edge Singapore Property Transaction Tracker
Unit at Scotts Square hits $4,453 psf
A 624 sq ft, one-bedroom unit on the 13th floor of The Scotts Tower transacted at $2.19 million, or $3,506 psf
A 624 sq ft, one-bedroom apartment on the 42nd floor of Scotts Square changed hands at $2.78 million, or $4,453 psf
| BY Amy TAN |
O
n Aug 5, a 624 sq ft, one-bedroom apartment on the 42nd floor of Scotts Square on prime Scotts Road, just off the famous Orchard Road shopping strip, was sold for $2.78 million, or $4,453 psf. The buyer is believed to be a foreigner who purchased the unit for his own use in a deal brokered by Savills. “More than half the foreign buyers of Scotts Square are owner-occupiers,” says Samuel Eyo, director of Prestige Homes Savills. He adds that most of the foreign buyers of Scotts Square are Indonesians, who like the location for its proximity to Orchard Road. Scotts Square is a 338-unit freehold high-end condominium project developed by listed luxury developer Wheelock Properties and completed in 2011. The project comprises two residential towers — one of 35 storeys and the other 43 storeys — sitting on top of a four-storey shopping mall. Units are a mix of one- to three-bedroom apartments. Based on caveats lodged, this is the third transaction this year.
The last two deals were for two adjacent units of 624 sq ft each and situated on the 15th floor. Both one-bedroom apartments were sold at $2.3 million ($3,684 psf) apiece in January and July, respectively. The purchase price for both units back in mid-2007 was also identical — $2.43 million, or $3,888 psf. Prices of units at Scotts Square sold in 2007 ranged from $3,618 to $4,451 psf. Prices hit an all-time-high of $4,803 psf when a 635 sq ft, one-bedroom unit on the 43rd level was sold for $3.05 million around the time the project obtained its Temporary Occupation Permit (TOP) in August 2011. In January this year, Scotts Square obtained its Certificate of Statutory Completion and Subsidiary Strata Certificate of Title. As at end-June, 79% of the units, or 267 apartments, at Scotts Square were sold, at an average price of $4,004 psf, according to Wheelock Properties in its 2Q2013 report released on Aug 6. In the resale market, some owners of luxury condo units are starting to get jittery, according to property agents. This is especially so following the introduction of the Total Debt Servicing Ratio (TDSR) framework on June 28. In fact, luxury prices have already started to soften, according to Jones Lang LaSalle’s Asia Pacific Luxury Residential Index. Luxury residential prices in Singapore saw a 0.6% q-o-q drop in 2Q2013 and an annual decline of 2.1% as government measures continue to affect investor sentiment, says JLL. At Scotts Square, for instance, listings in propertyguru. com. sg show that asking prices are still hovering around $4,000 psf, ranging from $3,937 psf for a one-bedroom unit to $4,163 psf for a three bedroom unit. Meanwhile, asking rents for 624 sq ft, one-bedroom apartments at Scotts Square are from $5,500 to $5,800 a month for partially furnished units. Based on the latest transaction price, gross rental yield works out to between 2.37% and 2.5%. As for the slightly larger 635 sq ft, one-bedroom apartments, the asking rent is about $6,000 a month currently, according to listings on propertyguru. com.sg. Twobedroom apartments have asking rents ranging from $6,800 to $7,400 a month. Nearby, located at the junction of Scotts Road and Cairnhill Road is Far East Organization’s 231- unit The Scotts Tower, designed by
2 • THEEDGE SINGAPORE | AUGUST 26, 2013
Done Deals
Dutch architect Ben van Berkel of UNStudio. The 103-year leasehold condo was launched towards the end of 2011. Of the 169 units launched to date, 132 were sold as at end-July. Four units were sold last month at prices ranging from $3,344 to $3,538 psf. The most recent transaction was for a 624 sq ft unit that was sold for $2.19 million ($3,506 psf). The highest psf price was achieved in February this year, when an 872 sq ft, two-bedroom unit on the 22nd floor was sold for $3.72 million, or $4,267 psf. The Scotts Tower comprises a mix of one- to three-bedroom
Done Deals
SOHO-style apartments and fourbedroom penthouses, with sizes ranging from 624 to 3,315 sq ft. Like Scotts Square, more than half of the buyers of The Scotts Tower are foreigners, says Savills’ Eyo. While the enforcement of the TDSR framework has resulted in a slowdown in property transactions and deterred some local buyers, especially investors holding on to multiple units, the prime Orchard Road area continues to see buying interest from foreign buyers, especially those from Indonesia and mainland E China, adds Eyo.
Apartment and condo transactions with contract dates from Aug 1 to 7
Project Property Tenure CONTRACT Floor Area Transacted Unit Price Completion Type of Type DATE (sq ft) Price ($) ($ psf) Date Sale District 3 REGENCY SUITES
Purchaser Address
Apartment
Freehold
August 7, 2013
980
$1,630,000
$1,664
2008
Resale
Private
CONDOMINIUM
Condominium
99 years
August 6, 2013
1,787
$2,488,888
$1,393
2009
Resale
Private
TANGLIN VIEW
Condominium
99 years
August 6, 2013
1,141
$1,570,000
$1,376
2001
Resale
HDB
QUEENS
Condominium
99 years
August 1, 2013
1,195
$1,603,000
$1,342
2002
Resale
HDB
THE ANCHORAGE
Condominium
Freehold
August 1, 2013
1,464
$2,350,000
$1,605
1997
Resale
HDB
THE METROPOLITAN
District 4 THE RESIDENCES AT W SINGAPORE SENTOSA COVE
Condominium
99 years
August 7, 2013
Established in 1855, Savills is a global real estate services provider listed on the London Stock Exchange with rich heritage.
1,658
$4,518,648
$2,726
2011
Resale
Private
Savills, your world class property adviser in global capitals.
Great news for your capital. showcase.savills.com.sg
Savills Singapore Pte Ltd | +65 6836 6888 | international.resi@savills.com.sg | Agency No. L3009688B
THEEDGE SINGAPORE | AUGUST 26, 2013 •3
Done Deals
Project
Property Tenure CONTRACT Type DATE
THE INTERLACE
Condominium
99 years
August 1, 2013
Floor Area (sq ft) 1,055
Transacted Unit Price Completion Price ($) ($ psf) Date
Type of Sale
$1,498,000
Sub Sale
$1,420
Uncompleted
Purchaser Address HDB
District 5 FABER HILLS
Detached House
Freehold
August 6, 2013
9,009
$12,500,000
$1,387
1977
Resale
Private
PARC IMPERIAL
Condominium
Freehold
August 5, 2013
388
$720,000
$1,858
2010
Resale
HDB
District 8 CITYLIGHTS
Condominium
99 years
August 6, 2013
560
$990,000
$1,769
2007
Resale
HDB
KENT RESIDENCES
Apartment
Freehold
August 1, 2013
538
$750,000
$1,394
2009
Resale
Private
CITY SQUARE RESIDENCES
Condominium
Freehold
August 1, 2013
1,216
$1,790,000
$1,472
2009
Resale
Private
District 9 THE SCOTTS TOWER
Condominium
103 years
August 5, 2013
624
$2,189,000
$3,506
Uncompleted
New Sale
Private
RIVERGATE
Apartment
Freehold
August 5, 2013
2,088
$4,150,000
$1,987
2009
Resale
Private
PARC CENTENNIAL
Apartment
Freehold
August 5, 2013
1,572
$2,400,000
$1,527
2011
Resale
Private
THE QUAYSIDE
Apartment
99 years
August 5, 2013
1,550
$2,380,000
$1,535
1998
Resale
Private
PARC CENTENNIAL
Apartment
Freehold
August 5, 2013
1,550
$2,230,000
$1,439
2011
Resale
Private
SCOTTS SQUARE
Apartment
Freehold
August 5, 2013
624
$2,779,920
$4,453
2011
Resale
Private
ASPEN HEIGHTS
Condominium
999 years
August 2, 2013
1,313
$2,133,000
$1,624
1998
Resale
Private
URBAN SUITES
Condominium
Freehold
August 2, 2013
1,572
$4,250,000
$2,704
2013
Sub Sale
Private
LIV ON SOPHIA
Apartment
Freehold
August 1, 2013
538
$1,280,000
$2,378
Uncompleted
New Sale
Private
RESIDENCES AT EMERALD HILL Apartment
Freehold
August 1, 2013
1,658
$4,377,000
$2,640
2011
Resale
Private
PARC CENTENNIAL
Freehold
August 1, 2013
1,249
$1,900,000
$1,522
2011
Resale
Private
Apartment
District 10 HOLLAND PEAK
Condominium
Freehold
August 7, 2013
1,313
$1,800,000
$1,371
1994
Resale
Private
CONDOMINIUM
Condominium
Freehold
August 6, 2013
1,496
$2,416,000
$1,615
1998
Resale
Private
12 LASIA AVENUE
Terrace House
Freehold
August 5, 2013
2,110
$4,200,000
$1,991
1975
Resale
Private
EDEN PARK
Semi-Detached House
Freehold
August 2, 2013
3,218
$6,250,000
$1,941
1984
Resale
Private
DUCHESS MANOR
Condominium
999 years
August 2, 2013
1,066
$1,930,000
$1,811
2005
Resale
Private
CASA JERVOIS
Apartment
Freehold
August 2, 2013
1,227
$1,870,000
$1,524
Unknown
Resale
Private
D’LEEDON
Condominium
99 years
August 1, 2013
1,399
$2,361,810
$1,688
Uncompleted
New Sale
Private
TANGLIN REGENCY
Condominium
99 years
August 1, 2013
710
$985,000
$1,386
1998
Resale
Private
VERDURE
Condominium
Freehold
August 1, 2013
947
$1,850,000
$1,953
2012
Sub Sale
Private
FIFTH AVENUE
District 11 THOMSON 800
Condominium
Freehold
August 6, 2013
1,625
$2,161,250
$1,330
1999
Resale
HDB
DERBYSHIRE HEIGHTS
Apartment
Freehold
August 6, 2013
1,292
$1,650,000
$1,277
2004
Resale
Private
M21
Apartment
Freehold
August 5, 2013
1,755
$2,490,000
$1,419
2010
Resale
Private
AMARYLLIS VILLE
Condominium
99 years
August 2, 2013
1,259
$1,900,000
$1,509
2004
Resale
Private
18A JOAN ROAD
Detached House
Freehold
August 1, 2013
15,780
$23,300,000
$1,477
2005
Resale
Private
District 12 PINNACLE 16
Apartment
Freehold
August 6, 2013
592
$950,000
$1,605
2006
Resale
Private
TRELLIS TOWERS
Condominium
Freehold
August 6, 2013
1,647
$1,823,000
$1,107
2000
Resale
Private
TREVISTA
Condominium
99 years
August 5, 2013
1,130
$1,600,000
$1,416
2011
Resale
Private
VISTA RESIDENCES
Condominium
Freehold
August 2, 2013
1,173
$1,630,000
$1,389
Uncompleted
Sub Sale
HDB
VISTA RESIDENCES
Condominium
Freehold
August 2, 2013
1,195
$1,660,000
$1,389
Uncompleted
Sub Sale
HDB
District 13 PARC MONDRIAN
Apartment
Freehold
August 6, 2013
1,399
$1,800,000
$1,286
2010
Resale
Private
8@WOODLEIGH
Condominium
99 years
August 5, 2013
1,098
$1,600,000
$1,457
2012
Resale
HDB
DAISY LODGE
Apartment
Freehold
August 5, 2013
689
$770,000
$1,118
1986
Resale
HDB
District 14 WATERBANK AT DAKOTA
Condominium
99 years
August 6, 2013
624
$1,138,000
$1,823
2013
Sub Sale
ASTOR
Apartment
99 years
August 2, 2013
1,130
$1,020,000
$902
2006
Resale
Private HDB
District 15 HERITAGE EAST
Apartment
Freehold
August 7, 2013
495
$710,000
$1,434
2012
Resale
HDB
PALAZZETTO
Apartment
Freehold
August 6, 2013
818
$1,135,000
$1,387
2002
Resale
HDB
PALM OASIS
Apartment
Freehold
August 5, 2013
883
$1,075,000
$1,218
2008
Resale
HDB
AALTO
Condominium
Freehold
August 5, 2013
1,550
$2,600,000
$1,677
2010
Resale
Private
LE CONNEY PARK
Apartment
Freehold
August 5, 2013
1,109
$1,130,000
$1,019
1995
Resale
Private
38 CEYLON ROAD
Semi-Detached House
Freehold
August 5, 2013
3,294
$4,100,000
$1,244
1989
Resale
Private
AMBER RESIDENCES
Condominium
Freehold
August 5, 2013
1,249
$1,840,000
$1,474
2011
Resale
Private
HAIG COURT
Condominium
Freehold
August 5, 2013
1,464
$1,730,000
$1,182
2004
Resale
Private
NEPTUNE COURT
Apartment
99 years
August 2, 2013
1,636
$1,295,000
$792
1975
Resale
Private
THE SHORE RESIDENCES
Condominium
103 years
August 2, 2013
592
$920,000
$1,554
Uncompleted
Sub Sale
Private
FRANKEL ESTATE
Semi-Detached House
Freehold
August 2, 2013
2,917
$3,600,000
$1,234
1955
Resale
Private
4 • THEEDGE SINGAPORE | AUGUST 26, 2013
Done Deals
Apartment and condo transactions with contract dates from Aug 1 to 7
Project NEPTUNE COURT
Property Tenure CONTRACT Floor Area Type DATE (sq ft) Apartment 99 years August 1, 2013 1,636
Transacted Unit Price Completion Price ($) ($ psf) Date $1,250,000 $764 Unknown
Type of Sale Resale
Purchaser Address Private
17 JALAN SEDAP
Semi-Detached House
Freehold
August 1, 2013
3,401
$5,700,000
$1,675
1998
Resale
Private
ONE FORT
Condominium
Freehold
August 1, 2013
1,227
$1,509,210
$1,230
2005
Resale
Private
District 16 AQUARIUS BY THE PARK
Condominium
99 years
August 6, 2013
1,206
$1,070,000
$888
2000
Resale
HDB
THE TANAMERA
Condominium
99 years
August 5, 2013
1,324
$1,280,000
$967
1994
Resale
Private
BEDOK COURT
Condominium
99 years
August 5, 2013
2,271
$1,850,000
$815
1985
Resale
HDB
THE BAYSHORE
Condominium
99 years
August 5, 2013
1,012
$1,100,000
$1,087
1996
Resale
HDB
CASA MERAH
Apartment
99 years
August 2, 2013
947
$1,230,000
$1,299
2009
Resale
Private
District 17 CHANGI GARDEN
Condominium
Freehold
August 7, 2013
1,475
$1,050,000
$712
1980
Resale
Private
AVILA GARDENS
Condominium
Freehold
August 6, 2013
1,324
$1,180,000
$891
1995
Resale
HDB
District 18 CITYLIFE@TAMPINES
Executive Condominium 99 years
August 6, 2013
1,378
$1,036,400
$752
Uncompleted
New Sale
HDB
WATERCOLOURS
Executive Condominium 99 years
August 5, 2013
786
$608,900
$775
Uncompleted
New Sale
HDB
CITYLIFE@TAMPINES
Executive Condominium 99 years
August 5, 2013
1,141
$942,700
$826
Uncompleted
New Sale
HDB
VUE 8 RESIDENCE
Condominium
99 years
August 2, 2013
549
$655,120
$1,193
Uncompleted
New Sale
Private
VUE 8 RESIDENCE
Condominium
99 years
August 1, 2013
797
$863,360
$1,084
Uncompleted
New Sale
Private
CHANGI RISE CONDOMINIUM Condominium
99 years
August 1, 2013
1,130
$1,040,000
$920
2004
Resale
Private
Executive Condominium 99 years
August 1, 2013
1,141
$950,000
$833
2005
Resale
Private
WHITEWATER
District 19 CHUAN PARK
Condominium
99 years
August 7, 2013
1,173
$1,230,000
$1,048
1985
Resale
TAI HWAN GARDEN
Terrace House
Freehold
August 7, 2013
2,013
$2,510,000
$1,246
1979
Resale
HDB
SERANGOON GARDEN ESTATE Terrace House
999 years
August 7, 2013
2,164
$2,500,000
$1,157
Unknown
Resale
Private
EVERGREEN PARK
Apartment
99 years
August 7, 2013
1,023
$840,000
$821
1999
Resale
Private
ROSYTH VILLE
Apartment
999 years
August 6, 2013
1,109
$1,150,000
$1,037
2007
Resale
HDB
LA FIESTA
Condominium
99 years
August 6, 2013
990
$1,128,000
$1,139
Uncompleted
New Sale
HDB
JEWEL @ BUANGKOK
Condominium
99 years
August 6, 2013
1,636
$1,831,830
$1,120
Uncompleted
New Sale
PALM GROVE REGENCY
Semi-Detached House
999 years
August 6, 2013
3,251
$2,500,000
$769
2008
Resale
Private
SERANGOON GARDEN ESTATE Terrace House
999 years
August 5, 2013
2,799
$3,350,000
$1,197
Unknown
Resale
Private
SERANGOON GARDEN ESTATE Terrace House
Freehold
August 5, 2013
1,948
$3,150,000
$1,615
Unknown
Resale
Private
JEWEL @ BUANGKOK
Condominium
99 years
August 5, 2013
474
$643,500
$1,359
Uncompleted
New Sale
HDB
JADE RESIDENCES
Apartment
Freehold
August 2, 2013
538
$886,500
$1,647
Uncompleted
New Sale
HDB
LA FIESTA
Condominium
99 years
August 2, 2013
1,001
$1,145,000
$1,144
Uncompleted
New Sale
HDB
VERDANA VILLAS
Semi-Detached House
Freehold
August 2, 2013
4,919
$3,780,000
$768
2013
Sub Sale
HDB
THE RIVERVALE
Executive Condominium 99 years
August 2, 2013
1,259
$990,000
$786
2000
Resale
HDB
August 2, 2013
2,164
$2,728,000
$1,262
Unknown
Resale
Private
SERANGOON GARDEN ESTATE Terrace House
999 years
Private
HDB
CHARLTON 27
Terrace House
Freehold
August 2, 2013
5,952
$3,901,350
$655
Uncompleted
New Sale
Private
NOUVELLE PARK
Condominium
Freehold
August 1, 2013
1,539
$1,480,000
$962
1994
Resale
Private
BARTLEY VILLAS
Terrace House
99 years
August 1, 2013
1,615
$1,900,000
$1,177
1996
Resale
Private
District 20 THOMSON GARDEN ESTATE
Terrace House
Freehold
August 7, 2013
883
$1,800,000
$2,034
Unknown
Resale
THOMSON V TWO
Apartment
Freehold
August 2, 2013
592
$900,000
$1,520
2012
Sub Sale
SEMBAWANG HILLS ESTATE
Terrace House
Freehold
August 2, 2013
2,486
$3,780,000
$1,520
Unknown
Resale
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THEEDGE SINGAPORE | AUGUST 26, 2013 •5
Done Deals
Project
Property Tenure CONTRACT Type DATE
Floor Area (sq ft)
Transacted Unit Price Completion Price ($) ($ psf) Date
Type of Sale
Purchaser Address
District 21 GARDENVISTA
Condominium
99 years
August 6, 2013
1,173
$1,500,000
$1,278
2006
Resale
Private
JARDIN
Condominium
Freehold
August 5, 2013
1,711
$3,550,000
$2,074
2012
Resale
Private
SIGNATURE PARK
Condominium
Freehold
August 5, 2013
1,399
$1,500,000
$1,072
1998
Resale
Private
BINJAI CREST
Terrace House
99 years
August 2, 2013
3,369
$2,358,300
$700
2004
Resale
Private
MAPLEWOODS
Condominium
Freehold
August 1, 2013
1,324
$1,965,000
$1,484
1997
Resale
Private
JARDIN
Condominium
Freehold
August 1, 2013
1,808
$3,560,000
$1,969
2012
Resale
HDB
District 22 PARC VISTA
Condominium
99 years
August 7, 2013
1,281
$1,080,000
$843
1998
Resale
Private
PARK VIEW MANSION
Apartment
99 years
August 5, 2013
1,335
$800,000
$599
Unknown
Resale
Private
PARK VIEW MANSION
Apartment
99 years
August 2, 2013
1,119
$735,000
$657
Unknown
Resale
HDB
WESTVILLE
Terrace House
99 years
August 2, 2013
2,400
$1,950,000
$814
1998
Resale
HDB
WESTVILLE
Terrace House
99 years
August 1, 2013
1,615
$1,639,999
$1,016
1997
Resale
Private
District 23 VILLA VERDE
Terrace House
99 years
August 6, 2013
2,153
$1,880,000
$873
2000
Resale
Private
GLENDALE PARK
Condominium
Freehold
August 6, 2013
1,249
$1,400,000
$1,121
2000
Resale
Private
MAYSPRINGS
Apartment
99 years
August 5, 2013
818
$800,000
$978
1998
Resale
TREE HOUSE
Condominium
99 years
August 5, 2013
1,249
$1,400,000
$1,121
Uncompleted
Sub Sale
THE DAIRY FARM
Condominium
Freehold
August 2, 2013
1,507
$1,700,000
$1,128
1985
Resale
HDB
HILLVIEW REGENCY
Condominium
99 years
August 1, 2013
1,109
$1,070,000
$965
2005
Resale
HDB
GUILIN VIEW
Condominium
99 years
August 1, 2013
861
$835,000
$970
1999
Resale
HDB
HDB Private
District 25 PARC ROSEWOOD
Condominium
99 years
August 5, 2013
431
$585,000
$1,359
Uncompleted
Sub Sale
WOODSVALE
Executive Condominium 99 years
August 5, 2013
1,356
$920,000
$678
2000
Resale
HDB
TWIN FOUNTAINS
Executive Condominium 99 years
August 5, 2013
1,399
$1,070,960
$765
Uncompleted
New Sale
HDB
FORESTVILLE
Executive Condominium 99 years
August 2, 2013
1,292
$933,990
$723
Uncompleted
New Sale
HDB
TWIN FOUNTAINS
Executive Condominium 99 years
August 1, 2013
1,033
$772,200
$747
Uncompleted
New Sale
HDB
FORESTVILLE
Executive Condominium 99 years
August 1, 2013
1,292
$896,760
$694
Uncompleted
New Sale
HDB
FORESTVILLE
Executive Condominium 99 years
August 1, 2013
1,679
$1,120,480
$667
Uncompleted
New Sale
HDB
Private
District 26 SPRINGLEAF GARDEN
Semi-Detached House
Freehold
August 7, 2013
3,552
$3,738,000
$1,053
1990
Resale
Private
District 27 THE ESTUARY
Condominium
99 years
August 6, 2013
915
$1,150,000
$1,257
2013
Sub Sale
Private
NORTHWOOD
Condominium
Freehold
August 6, 2013
1,335
$1,280,000
$959
2009
Resale
Private
THE ESTUARY
Condominium
99 years
August 6, 2013
1,119
$1,140,000
$1,018
2013
Sub Sale
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1 CANBERRA
Executive Condominium 99 years
August 5, 2013
947
$700,712
$740
Uncompleted
New Sale
HDB
District 28 SERENITY PARK
Condominium
Freehold
August 7, 2013
1,098
$1,100,000
$1,002
1995
Resale
Private
SELETAR SPRINGS |CONDOMINIUM
Condominium
99 years
August 5, 2013
1,206
$1,050,000
$871
2000
Resale
Private
THE GREENWICH
Condominium
99 years
August 2, 2013
883
$1,050,000
$1,190
Uncompleted
Sub Sale
Private
THE TOPIARY
Executive Condominium 99 years
August 1, 2013
753
$576,380
$765
Uncompleted
New Sale
DISCLAIMER: Source: URA Realis. Updated Aug 20, 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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