DoneDeals
THEEDGE SINGAPORE | September16, 2013 •1
Done Deals
THEEDGE SINGAPORE | September 16, 2013 • 1
bRYAN tAY, THE EDGE SINGAPORE
The Edge Singapore Property Transaction Tracker
Alexis achieved an all-time-high price of $2,084 psf on Aug 26. Agents say it is in demand because of its location near the Queensway MRT station and its freehold status
Unit at Alexis hits $2,084 psf | BY jo-ann huang |
N
ew condominiums and the prospect of more amenities in the form of more shops, restaurants and a business hotel are some of the attractions drawing investors and owner-occupiers to the Alexandra Road neighbourhood. In August, several transactions took place in some condos there. Along Alexandra Road, in the neighbourhood of Leng Kee Road and Queenstown, is Alexis, a six-storey residential block with 293 units sitting on top of 21 ground-floor shop units. The residential units are predominantly one-bedroom units starting from 366 sq ft, one-bedroom-plus-study units from 474 sq ft and two-bedroom units from 527 sq ft. The freehold Alexis was developed by EC Prime, a joint-venture company comprising privately held developers Fission Group and Yi Kai Group. When Alexis was launched four years ago, all the units were snapped up in three days at prices ranging from $850 to $1,100 psf. Completed last year, the project is often regarded by property observers as a litmus test for shoebox apartments, given that it was the first and largest such project to be developed at that time.
Last month, a 398 sq ft, one-bedroom unit changed hands at a record price of $2,084 psf, translating into a total quantum of $830,000. The unit was purchased by the previous owner for $460,000 ($1,155 psf) when the project was launched in March 2009. This reflects a price appreciation of 80%. Jasmine Tan, a senior sales director at DTZ, is marketing two 2-bedroom units at Alexis. Despite the units’ small sizes, they are in demand because of the location and freehold tenure. The condo is also a short walk from the Queensway MRT station. “Such a property in the Alexandra area is rare,” she says. According to Tan, her clients are not in a hurry to sell and will only do so if their asking prices of $1.37 million ($2,120 psf) for a 646 sq ft unit and $1.35 million ($2,126 psf) for a 635 sq ft unit are achieved. She adds that the residents at Alexis are a mix of tenants and owner-occupiers. Most of the one-bedroom units at Alexis are selling at just under $1 million even after a hefty 15% additional buyer’s stamp duty is levied on foreigners. As such, the project has attracted mainland Chinese buyers, who are cash-rich and do not require financing for their purchases.
Near Alexis is an older 99-year leasehold condo. The Anchorage has 775 units and is integrated with Anchorpoint, a boutique shopping mall with eateries and shops that was completed in 1997. Developed by Frasers Centrepoint, apartments at The Anchorage are large by today’s standards, with one-bedroom units starting from 818 sq ft, two-bedroom units from 1,044 sq ft, threebedroom units from 1,378 sq ft and fourbedroom units from 2,077 sq ft. A 1,163 sq ft unit on the fourth floor of The Anchorage changed hands for $1.5 million ($1,290 psf) in August. The two-bedroom unit previously changed hands in January 2006 for $718,000 ($618 psf), which translates into a price increase of more than twofold. Meanwhile, properties along Alexandra Road in the neighbourhood of Tanglin Road, Prince Charles Crescent and Tiong Bahru also saw an uptick in buying activity. Property agents attribute this to the success of recent launches in the area such as the 508unit Echelon, jointly launched by City Developments Ltd (CDL) and parent company Hong Leong Group, towards the end of last year, before the seventh round of measures were imposed in January. As at end-July, the project had only three penthouses still available for sale, and the median price achieved for units sold in that month was $1,556 psf. Echelon is located next door to Wing Tai’s newly completed 373-unit Ascentia Sky. Located across the road are two older condos — the 384-unit Tanglin View, developed by Far East Organization and completed in 2002; and GuocoLand’s 210-unit Tanglin Regency, which was completed in 1998. Both these developments are 99-year leasehold condos in the vicinity of Prince Charles Crescent. Last month, a 1,141 sq ft, three-bedroom unit on the ninth floor of Tanglin View was sold for $1.57 million ($1,376 psf). This is the fourth time the unit has been sold. The last time it was sold was in May 2007, for $1.25 million ($1,096 psf), and the previous transaction was just two months earlier, at $800,000 ($701 psf). The first owner purchased it for $933,338 ($818 psf) from the developer in 1999. “Compared with the new launches, Tanglin View presents good value as it’s more affordable on a psf basis and more spacious,” says DTZ’s Tan. “The project has also seen an upgrade last year, with a new link to the Alexandra Park Connector.” Tanglin View is said to be popular with expatriate tenants from Japan and South
2 • THEEDGE SINGAPORE | September 16, 2013
Done Deals
Korea. Rental rates are said to start from $5,000 a month for a three-bedroom unit, with rental yields in the 3% to 4% range, she estimates. The Prince Charles neighbourhood has also seen an increase in interest, owing to new launches. UIC and Singapore Land jointly launched Mon Jervois on Jervois Road in April. The developer had released just 22 units as at end-July, of which 16 have been sold at a median price of $2,211 psf. Adjacent to Mon Jervois is another 99year leasehold site won by a consortium comprising Wing Tai Holdings, Metro Holdings and UE E&C. The 469-unit private condo is expected to be launched before yearend. The site was acquired in September 2012 for $516.3 million, or $960 psf per plot ratio. The new project at Prince Charles Crescent is expected to be priced between $1,800 and $2,000 psf. The landmark condo at Prince Charles Crescent will be designed by renowned Jap-
At Far East Organization’s Tanglin View, a three-bedroom unit was transacted at $1.57 million ($1,376 psf) last month
anese architect Toyo Ito, who also designed Wing Tai’s Belle Vue condo on Oxley Walk and CapitaGreen, a Grade-A office develop-
ment by a consortium consisting of CapitaCommercial Trust, CapitaLand and MitE subishi Estate Asia.
ment! Choice invest ation! Excellent loc rice! Affordable p
Project hotline:
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· Located at the fringe of city · 5 mins walk to Boon Keng MRT · Superb connectivity – short drive to CBD & Orchard · Easy access to highways – CTE, PIE & KPE · Close proximity to various reputable local & international schools · Close proximity to shopping malls
+65 6100 8628
THEEDGE SINGAPORE | September16, 2013 •3
Done Deals
Apartment and condo transactions with contract dates from Aug 23 to 30 Project Property Tenure CONTRACT Type DATE
Floor Area Transacted Unit Price Completion (sq ft) Price ($) ($ psf) Date
Type of Purchaser Sale Address
District 2 ICON
Apartment
99 years
August 26, 2013
581
$1,150,000
$1,978
2007
Resale
Private
District 3 MERAPRIME
Condominium
99 years
August 27, 2013
840
$1,230,000
$1,465
2006
Resale
ALEXIS
Apartment
Freehold
August 26, 2013
398
$830,000
$2,084
2012
Sub Sale
Private
HDB
MERAPRIME
Condominium
99 years
August 23, 2013
1,173
$1,760,000
$1,500
2006
Resale
Private
District 4 REFLECTIONS AT KEPPEL BAY Condominium
99 years
August 27, 2013
1,733
$4,180,000
$2,412
2011
Resale
Private
CARIBBEAN AT KEPPEL BAY
99 years
August 23, 2013
1,647
$2,600,000
$1,579
2004
Resale
Private
Condominium
District 5 NEWEST
Apartment
956 years
August 30, 2013
2,400
$2,181,600
$909
Uncompleted
New Sale
Private
THE ROCHESTER
Apartment
99 years
August 29, 2013
872
$1,430,000
$1,640
Uncompleted
Sub Sale
Private
HUNDRED TREES
Condominium
956 years
August 28, 2013
786
$1,180,000
$1,502
2013
Sub Sale
Private
CARABELLE
Condominium
956 years
August 28, 2013
1,302
$1,620,000
$1,244
2009
Resale
Private
SEAHILL
Condominium
99 years
August 26, 2013
710
$1,294,730
$1,822
Uncompleted
New Sale
Private
DOVER PARKVIEW
Condominium
99 years
August 23, 2013
1,249
$1,550,000
$1,241
1997
Resale
Private
CARABELLE
Condominium
956 years
August 23, 2013
2,067
$2,550,000
$1,234
2009
Resale
Private
District 8 PARC SOMME
Apartment
99 years
August 30, 2013
581
$860,000
$1,480
2012
Resale
8 FARRER SUITES
Apartment
Freehold
August 26, 2013
635
$1,085,300
$1,709
Uncompleted
New Sale
Private HDB
District 9 THE BAYRON
Condominium
Freehold
August 30, 2013
1,432
$2,330,000
$1,628
1999
Resale
Private
THE BAYRON
Condominium
Freehold
August 30, 2013
872
$1,500,000
$1,720
1999
Resale
Private
SCOTTS HIGHPARK
Condominium
Freehold
August 29, 2013
3,466
$6,800,000
$1,962
2009
Resale
Private
THE BAYRON
Condominium
Freehold
August 28, 2013
1,432
$2,320,000
$1,621
1999
Resale
Private
THE BAYRON
Condominium
Freehold
August 28, 2013
904
$1,545,000
$1,709
1999
Resale
Private
HELIOS RESIDENCES
Apartment
Freehold
August 28, 2013
1,668
$5,280,000
$3,165
2011
Resale
Private
THE REGALIA
Apartment
Freehold
August 27, 2013
1,216
$1,790,000
$1,472
1993
Resale
Private
LANGSTON VILLE
Apartment
999 years
August 27, 2013
936
$1,518,000
$1,621
2000
Resale
HDB
THE IMPERIAL
Condominium
Freehold
August 27, 2013
1,410
$2,620,000
$1,858
2006
Resale
HDB
CONDOMINIUM
Condominium
Freehold
August 26, 2013
2,530
$6,600,000
$2,609
2013
New Sale
Private
PATERSON LINC
Apartment
Freehold
August 26, 2013
1,023
$2,600,000
$2,543
2010
Resale
Private
TWENTYONE ANGULLIA PARK Condominium
Freehold
August 23, 2013
3,143
$14,835,720
$4,720
Uncompleted
New Sale
Private
MARTIN PLACE RESIDENCES
Freehold
August 23, 2013
1,722
$3,650,640
$2,120
2011
Resale
Private
URBAN RESORT
Condominium
District 10 8 GREENLEAF VIEW
Semi-Detached House
Freehold
August 29, 2013
4,230
$6,800,000
$1,606
1973
Resale
Private
THE SIENA
Apartment
99 years
August 27, 2013
904
$2,024,200
$2,239
Uncompleted
New Sale
Private
PARVIS
Condominium
Freehold
August 26, 2013
1,701
$3,136,000
$1,844
2012
Resale
Private
CLUNY PARK RESIDENCE
Condominium
Freehold
August 23, 2013
2,347
$6,088,000
$2,594
Uncompleted
New Sale
Private
CLUNY PARK RESIDENCE
Condominium
Freehold
August 23, 2013
1,593
$4,680,000
$2,936
Uncompleted
New Sale
Private
VALLEY PARK
Condominium
999 years
August 23, 2013
797
$1,250,000
$1,569
1997
Resale
Private
2 NAMLY VIEW
Detached House
Freehold
August 23, 2013
11,248
$16,280,000
$1,447
1979
Resale
Private
LEEDON RESIDENCE
Condominium
Freehold
August 23, 2013
2,110
$3,856,740
$1,828
Uncompleted
New Sale
Private
District 11 BIRMINGHAM MANSIONS
Apartment
Freehold
August 29, 2013
1,711
$2,220,000
$1,297
1998
Resale
Private
6 GREENVIEW CRESCENT
Detached House
Freehold
August 28, 2013
10,581
$16,300,000
$1,541
Unknown
Resale
Private
AMARYLLIS VILLE
Condominium
99 years
August 27, 2013
1,690
$2,600,000
$1,539
2004
Resale
Private
GILSTEAD TWO
Apartment
Freehold
August 26, 2013
904
$1,900,000
$2,101
Uncompleted
Sub Sale
SUITES @ NEWTON
Apartment
Freehold
August 23, 2013
721
$1,488,960
$2,065
Uncompleted
New Sale
BARKER TERRACES
Terrace House
Freehold
August 23, 2013
2,616
$3,000,000
$1,147
2006
Resale
HDB Private HDB
District 12 AVA TOWERS
Apartment
Freehold
August 28, 2013
1,281
$1,166,000
$910
1993
Resale
HDB
PUBLIC MANSION
Apartment
Freehold
August 28, 2013
1,959
$1,480,000
$755
1974
Resale
Private
THE MEZZO
Apartment
Freehold
August 27, 2013
775
$1,190,000
$1,535
2012
Resale
Private
EIGHT RIVERSUITES
Condominium
99 years
August 26, 2013
936
$1,162,000
$1,241
Uncompleted
New Sale
Private
TREVISTA
Condominium
99 years
August 26, 2013
1,130
$1,638,000
$1,449
2011
Resale
Private
District 13 BARTLEY RIDGE
Condominium
99 years
August 28, 2013
1,033
$1,341,300
$1,298
Uncompleted
New Sale
HDB
BARTLEY RIDGE
Condominium
99 years
August 23, 2013
1,593
$1,700,600
$1,067
Uncompleted
New Sale
HDB
District 14 21 JALAN RIMAU
Semi-Detached House
Freehold
August 28, 2013
3,283
$3,800,000
$1,158
1996
Resale
Private
4 • THEEDGE SINGAPORE | September 16, 2013
Done Deals
Apartment and condo transactions with contract dates from Aug 23 to 30
Project Property Tenure CONTRACT Floor Area Transacted Unit Price Completion Type DATE (sq ft) Price ($) ($ psf) Date THE OCTET Apartment Freehold August 28, 2013 506 $658,000 $1,301 Uncompleted
Type of Purchaser Sale Address New Sale HDB
KEMBANGAN COURT
Resale
Apartment
Freehold
August 23, 2013
893
$958,000
$1,072
1994
Private
District 15 PARC ELEGANCE
Apartment
Freehold
August 30, 2013
474
$755,000
$1,594
Uncompleted
Sub Sale
NEPTUNE COURT
Apartment
99 years
August 28, 2013
1,270
$1,150,000
$905
1975
Resale
HDB HDB
AALTO
Condominium
Freehold
August 28, 2013
1,528
$2,550,000
$1,668
2010
Resale
Private
COTE D’AZUR
Condominium
99 years
August 26, 2013
1,109
$1,283,388
$1,158
2004
Resale
Private
GARDEN PARK RESIDENCES
Apartment
Freehold
August 23, 2013
721
$951,720
$1,320
Uncompleted
New Sale
EBONY MANSIONS
Apartment
Freehold
August 23, 2013
1,195
$1,260,000
$1,055
1995
Resale
THE PALLADIUM
Apartment
Freehold
August 23, 2013
883
$1,280,000
$1,450
2002
Resale
THE SHORE RESIDENCES
Condominium
103 years
August 23, 2013
893
$1,530,000
$1,713
Uncompleted
Sub Sale
BLU CORAL
Condominium
Freehold
August 23, 2013
2,077
$1,780,000
$857
2009
Resale
HDB Private HDB Private HDB
District 16 THE BAYSHORE
Condominium
99 years
August 28, 2013
1,227
$1,280,000
$1,043
1996
Resale
Private
WATERFRONT KEY
Condominium
99 years
August 28, 2013
915
$1,235,000
$1,350
2012
Resale
Private
LANDBAY CONDOMINIUM
Condominium
Freehold
August 23, 2013
1,023
$1,238,000
$1,211
1996
Resale
HDB
District 17 BALLOTA PARK CONDOMINIUM
Condominium
Freehold
August 30, 2013
1,281
$960,000
$749
2000
Resale
Private
Condominium
Freehold
August 30, 2013
958
$950,000
$992
2009
Resale
Private
FERRARIA PARK CONDOMINIUM
District 18 LIVIA
Condominium
99 years
August 29, 2013
1,259
$1,260,000
$1,000
Unknown
Resale
Private
CITYLIFE@TAMPINES
Executive Condominium 99 years
August 28, 2013
1,227
$935,300
$762
Uncompleted
New Sale
Private
D’NEST
Condominium
99 years
August 28, 2013
1,410
$1,308,840
$928
Uncompleted
New Sale
HDB
Q BAY RESIDENCES
Condominium
99 years
August 27, 2013
797
$872,480
$1,095
Uncompleted
New Sale
Private
THE TAMPINES TRILLIANT
Executive Condominium 99 years
August 26, 2013
1,130
$856,000
$757
Uncompleted
New Sale
Private
ARC AT TAMPINES
Executive Condominium 99 years
August 26, 2013
1,044
$821,100
$786
Uncompleted
New Sale
HDB
WATERCOLOURS
Executive Condominium 99 years
August 23, 2013
786
$602,800
$767
Uncompleted
New Sale
HDB
CITYLIFE@TAMPINES
Executive Condominium 99 years
August 23, 2013
1,582
$1,352,400
$855
Uncompleted
New Sale
HDB
THE TAMPINES TRILLIANT
Executive Condominium 99 years
August 23, 2013
872
$733,000
$841
Uncompleted
New Sale
HDB
District 19 RIVERSAILS
Condominium
99 years
August 28, 2013
883
$846,090
$959
Uncompleted
GARDEN ESTATE
Semi-Detached House
999 years
August 28, 2013
2,637
$4,100,000
$1,553
CHUAN PARK
Condominium
99 years
August 28, 2013
1,173
$1,148,000
$978
LA FIESTA
Condominium
99 years
August 28, 2013
840
$1,011,500
$1,205
PRIVE
Executive Condominium 99 years
August 27, 2013
1,055
$870,000
$825
CASA ROSA
Condominium
99 years
August 27, 2013
1,098
$1,005,000
$915
THE TEMBUSU
Condominium
Freehold
August 27, 2013
474
$760,000
$1,605
THE TEMBUSU
Condominium
Freehold
August 26, 2013
753
$1,205,000
$1,599
WEMBLY RESIDENCES
Apartment
Freehold
August 26, 2013
1,798
$1,848,000
$1,028
KOVAN RESIDENCES
Condominium
99 years
August 23, 2013
1,259
$1,730,000
$1,374
2011
New Sale
HDB
SERANGOON Unknown
Resale
Private
1985
Resale
Private
Uncompleted
New Sale
HDB
2013
New Sale
HDB
2001
Resale
Uncompleted
New Sale
Private
Uncompleted
New Sale
Private
2011
Resale
HDB
Resale
HDB
HDB
District 20 GOLDENHILL PARK CONDOMINIUM
Condominium
Freehold
August 27, 2013
1,335
$1,958,000
$1,467
2004
Resale
HDB
BISHAN 8
Condominium
99 years
August 23, 2013
1,163
$1,375,000
$1,183
1999
Resale
HDB
District 21 THE BEVERLY
Apartment
Freehold
August 28, 2013
2,992
$2,200,000
$735
2012
New Sale
Private
FREESIA WOODS
Condominium
Freehold
August 28, 2013
1,432
$1,965,000
$1,373
2003
Resale
Private
PANDAN VALLEY
Condominium
Freehold
August 27, 2013
1,668
$1,780,000
$1,067
1978
Resale
Private
CONDOMINIUM
Condominium
999 years
August 27, 2013
1,259
$1,350,000
$1,072
1998
Resale
Private
MAPLEWOODS
Condominium
Freehold
August 26, 2013
1,485
$2,120,000
$1,427
1997
Resale
Private
HIGHGATE
Terrace House
Freehold
August 26, 2013
2,669
$3,200,000
$1,199
1993
Resale
Private
THE BLOSSOMVALE
Condominium
999 years
August 26, 2013
1,356
$1,940,000
$1,430
1998
Resale
Private
PARC PALAIS
Condominium
Freehold
August 23, 2013
958
$1,080,000
$1,127
1999
Resale
HDB
SPRINGDALE
District 22 THE CENTRIS
Apartment
99 years
August 28, 2013
1,313
$1,480,000
$1,127
2009
Resale
HDB
THE MAYFAIR
Condominium
99 years
August 26, 2013
1,195
$1,150,000
$963
2000
Resale
HDB
District 23 REGENT HEIGHTS
Condominium
99 years
August 28, 2013
1,023
$935,000
$914
1999
Resale
HDB
REGENT GROVE
Condominium
99 years
August 28, 2013
1,173
$900,000
$767
2000
Resale
Private
THEEDGE SINGAPORE | September16, 2013 •5
Done Deals
Project Property Tenure CONTRACT Type DATE
Floor Area Transacted Unit Price Completion (sq ft) Price ($) ($ psf) Date
Type of Purchaser Sale Address
CASHEW HEIGHTS CONDOMINIUM
Condominium
999 years
August 28, 2013
1,658
$1,700,000
$1,026
1992
Resale
Private
VILLA VERDE
Terrace House
99 years
August 28, 2013
1,959
$1,810,000
$924
2000
Resale
HDB
CONDOMINIUM
Condominium
999 years
August 27, 2013
1,658
$1,705,000
$1,029
1992
Resale
Private
MERAWOODS
Condominium
999 years
August 26, 2013
1,346
$1,390,000
$1,033
1999
Resale
HDB
LAUREL TREE
Apartment
Freehold
August 23, 2013
463
$605,000
$1,307
Uncompleted
New Sale
HILLBROOKS
Condominium
Freehold
August 23, 2013
1,130
$1,155,000
$1,022
1999
Resale
Private
REGENT GROVE
Condominium
99 years
August 23, 2013
1,173
$940,000
$801
2000
Resale
HDB
CASHEW HEIGHTS
HDB
District 25 LA CASA
Executive Condominium 99 years
August 29, 2013
1,292
$1,005,000
$778
2008
Resale
HDB
NORTHOAKS
Executive Condominium 99 years
August 27, 2013
1,292
$960,000
$743
2000
Resale
Private
FORESTVILLE
Executive Condominium 99 years
August 26, 2013
1,378
$1,068,780
$776
Uncompleted
New Sale
HDB
FORESTVILLE
Executive Condominium 99 years
August 23, 2013
1,033
$755,760
$731
Uncompleted
New Sale
HDB
FORESTVILLE
Executive Condominium 99 years
August 23, 2013
1,033
$767,040
$742
Uncompleted
New Sale
LA CASA
Executive Condominium 99 years
August 23, 2013
980
$860,000
$878
2008
Resale
FORESTVILLE
Executive Condominium 99 years
August 23, 2013
1,033
$776,000
$751
Uncompleted
New Sale
HDB Private HDB
District 26 SEASONS PARK
Condominium
99 years
August 27, 2013
1,066
$940,000
$882
1997
Resale
Private
SEASONS PARK
Condominium
99 years
August 26, 2013
1,109
$970,000
$875
1997
Resale
HDB
District 27 Condominium
99 years
August 30, 2013
1,378
$1,020,000
$740
2001
Resale
HDB
ORCHID PARK CONDOMINIUM Condominium
YISHUN SAPPHIRE
99 years
August 29, 2013
1,206
$950,000
$788
1994
Resale
Private
1 CANBERRA
Executive Condominium 99 years
August 28, 2013
947
$711,500
$751
Uncompleted
New Sale
HDB
1 CANBERRA
Executive Condominium 99 years
August 26, 2013
947
$727,100
$768
Uncompleted
New Sale
HDB
LILYDALE
Executive Condominium 99 years
August 26, 2013
1,195
$920,000
$770
2003
Resale
HDB
1 CANBERRA
Executive Condominium 99 years
August 26, 2013
1,055
$781,900
$741
Uncompleted
New Sale
958
$840,000
$877
1994
Resale
Private Private
ORCHID PARK CONDOMINIUM Condominium
99 years
August 23, 2013
ORCHID PARK CONDOMINIUM Condominium
99 years
August 23, 2013
893
$810,000
$907
1994
Resale
Executive Condominium 99 years
August 23, 2013
1,066
$737,612
$692
Uncompleted
New Sale
1 CANBERRA
HDB
HDB
District 28 SELETAR HILLS ESTATE
Semi-Detached House
THE TOPIARY
Executive Condominium 99 years
999 years
August 26, 2013
3,466
$4,300,000
$1,243
August 23, 2013
915
$628,045
$686
Unknown
Resale
Uncompleted
New Sale
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Private HDB