DoneDeals
THEEDGE SINGAPORE | OCTOBER 7, 2013 •1
Done Deals
THEEDGE SINGAPORE | OCTOBER 7, 2013 • 1
bRYAN tAY, THE EDGE SINGAPORE
The Edge Singapore Property Transaction Tracker
A 1,108 sq ft, two-bedroom unit on the third floor of Spanish Village was sold for $1.76 million, or $1,583 psf, on Sept 16
Buying activity seen in older developments at Farrer-Holland Road area | BY gwyneth yeo |
O
lder developments in the Holland Road and Farrer Road neighbourhoods have seen a pick-up in transactions over the week of Sept 13 to 20, according to the caveats lodged with URA’s Realis. For instance, the 17-year-old freehold development Sommerville Grandeur on Farrer Road saw a 1,830 sq ft, three-bedroom unit sold for $3.23 million ($1,776 psf). The seller had bought the secondfloor unit in December 2007 for $2.47 million ($1,350 psf). The same unit was also transacted in 1999 for $1.43 million ($781 psf). Over the years, there have been very
few transactions in the 96-unit condominium. The deal on Sept 20 is the first this year, and also happens to be the most expensive unit sold to date in terms of both quantum and price psf. Raymond Ho, senior division director at ERA Real ty Network, who is marketing a 1,195 sq ft,two-bedroom unit at Sommerville Grandeur, believes the latest transacted price is reasonable, given the unit’s size. He says he’s had several viewings for the apartment he is currently marketing,which has an asking price of $1.95 million ($1,632 psf). He adds that the apartment is the only one currently on the market. Given the lack of stock and the stiff competition, two other agents are also marketing the same unit.
The larger sizes and better layout of units at older freehold developments such as Sommerville Grandeur relative to newer condos in the neighbourhood make them sought-after. This is also the case at the neighbouring Spanish Village, a 226-unit freehold condo developed in 1987, and the 456-unit Sommerville Park, a freehold development that sits on a sprawling site and was completed in 1978. Units in these projects can achieve higher selling prices than those in newer condos in the area, given their scarcity, notes Ho. At Spanish Village, a 1,109 sq ft, two-bedroom unit on the third floor sold for $1.76 million ($1,583 psf) on Sept 16. The unit last changed hands in 1997 for $995,000 ($897 psf). So far this year, only five units at the project have changed hands. The last transaction was in June, when a 2,056 sq ft, three-bedroom apartment on the fifth floor was sold for $2.64 million ($1,283 psf). Nizam Gafoor, senior associate district director of Propnex Realty, who is marketing a 786 sq ft, one-bedroom unit in
2 • THEEDGE SINGAPORE | OCTOBER 7, 2013
Done Deals
A 2,551 sq ft, four-bedroom unit on the second floor of Holland Peak was sold for $3.65 million, or $1,431 psf, on Sept 13
Spanish Village, says there has been increased interest from both investors and owneroccupiers looking for affordably priced units in completed projects. This is because they want something they can move into right after they sell their HDB flats or private homes, he explains. “It’s a reflection of the difficulty in securing financing, especially when servicing an existing mortgage, owing to the TDSR [total debt servicing ratio] that kicked in three months ago.” The asking price of the 786 sq ft unit at Spanish Village that Gafoor is marketing is $1.35 million, or $1,718 psf. This is considered affordable for a freehold property and is comparable to prices achieved for similar-sized units at the 99-year leasehold 1,715-unit D’Leedon, which have ranged from $1,654 psf for a mid-floor unit to $1,983 psf for a high-floor unit. Some long-term investors are also looking to buy such freehold projects in antic-
ipation of a future en-bloc sale, says Gafoor. “In this current market, an en bloc is unlikely, but buyers could see capital gains in the next property upturn.” Homebuyers are starting to recognise the value of buying resale units in prime districts, as they see greater potential of capital appreciation, says Lynette Choy, a senior associate director at OrangeTee. For example, at the 132-unit freehold Holland Peak, developed by Japanese construction company Shimizu in 1994, a 2,551 sq ft, four-bedroom unit recently changed hands for $3.65 million ($1,431 psf). “The older freehold properties in the Holland Road-Holland Hill area appear undervalued compared with 99-year leasehold condos in city-fringe locations such as Ang Mo Kio, Alexandra and Bishan, where units at recent launches have been sold at higher prices,” says Choy. “Perhaps that’s why some investors are starting to take a second look at the area.” E
E
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THEEDGE SINGAPORE | OCTOBER 7, 2013 •3
Done Deals
Apartment and condo transactions with contract dates from Sept 13 to 20 Project
Property Tenure CONTRACT Type DATE
Floor Area (sq ft)
Transacted Unit Price Completion Price ($) ($ psf) Date
Type of Sale
Purchaser Address
District 1 EMERALD GARDEN
Condominium
999 years
September 18, 2013 1,033
$2,000,000
$1,935
1999
Resale
Private
THE SAIL @ MARINA BAY
Apartment
99 years
September 16, 2013
$1,280,000
$1,918
2008
Resale
Private
667
District 2 ICON
Apartment
99 years
September 16, 2013 1,119
$2,001,000
$1,787
2007
Resale
Private
District 3 QUEENS
Condominium
99 years
September 17, 2013 1,410
$1,850,000
$1,312
2002
Resale
HDB
QUEENS
Condominium
99 years
September 16, 2013 1,195
$1,488,000
$1,245
2002
Resale
Private
District 4 KASARA
Detached House
99 years
September 18, 2013 9,666
$19,500,000
$2,018
2011
Resale
Private
THE INTERLACE
Condominium
99 years
September 17, 2013 1,001
$1,350,888
$1,349
2013
Sub Sale
Private
CORALS AT KEPPEL BAY
Condominium
99 years
September 17, 2013
$1,968,000
$2,078
Uncompleted
New Sale
Private
947
District 5 NEWEST
Apartment
956 years
September 16, 2013 2,551
$2,204,779
$864
Uncompleted
New Sale
Private
District 8 CITY STUDIOS
Apartment
Freehold
September 16, 2013
603
$900,000
$1,493
Uncompleted
Sub Sale
Private
District 9 RIVERGATE
Apartment
Freehold
September 20, 2013 1,776
$3,540,000
$1,993
2009
Resale
Private
PARC EMILY
Condominium
Freehold
September 18, 2013
549
$1,040,000
$1,894
2008
Resale
Private
HAMILTON SCOTTS
Apartment
Freehold
September 17, 2013 2,756
$11,700,460
$4,246
2012
New Sale
Private
PATERSON LINC
Apartment
Freehold
September 16, 2013 1,023
$2,510,000
$2,455
2010
Resale
Private
THE BAYRON
Condominium
Freehold
September 16, 2013 1,432
$2,310,000
$1,614
1999
Resale
Private
THE IMPERIAL
Condominium
Freehold
September 16, 2013 1,733
$3,340,000
$1,927
2006
Resale
Private
TRIBECA
Condominium
Freehold
September 16, 2013 1,195
$1,600,000
$1,339
2010
Resale
Private
THE BAYRON
Condominium
Freehold
September 16, 2013 1,432
$2,300,000
$1,607
1999
Resale
Private
Condominium
Freehold
September 13, 2013 2,131
$4,250,000
$1,994
2012
New Sale
Private
SKYLINE 360 @ ST THOMAS WALK
District 10 27B HOOT KIAM ROAD
Apartment
Freehold
September 20, 2013 1,216
$1,450,000
$1,192
Unknown
Resale
Private
SOMMERVILLE GRANDEUR
Condominium
Freehold
September 20, 2013 1,830
$3,250,000
$1,776
1996
Resale
Private
THE MONTANA
Apartment
Freehold
September 19, 2013
549
$1,235,620
$2,251
2002
Resale
HDB
THE MONTANA
Apartment
Freehold
September 19, 2013 1,141
$2,128,700
$1,866
2002
Resale
Private
RESIDENCES SINGAPORE
Apartment
999 years
September 19, 2013 2,756
$6,800,000
$2,468
2008
Resale
Private
RIDGEWOOD
Condominium
999 years
September 19, 2013 1,399
$1,600,000
$1,143
1981
Resale
Private
RV RESIDENCES
Condominium
999 years
September 18, 2013
861
$1,731,020
$2,010
Uncompleted
New Sale
Private
DUCHESS MANOR
Condominium
999 years
September 18, 2013
829
$1,550,000
$1,870
2005
Resale
Private
RV RESIDENCES
Condominium
999 years
September 18, 2013
420
$856,080
$2,039
Uncompleted
New Sale
Private
RV RESIDENCES
Condominium
999 years
September 18, 2013
420
$871,660
$2,076
Uncompleted
New Sale
Private
HALLMARK RESIDENCES
Condominium
Freehold
September 17, 2013 2,885
$4,380,000
$1,518
Uncompleted
New Sale
Private
D’LEEDON
Condominium
99 years
September 16, 2013 1,496
$2,449,700
$1,637
Uncompleted
New Sale
Private
MON JERVOIS
Condominium
99 years
September 16, 2013 1,561
$2,853,000
$1,828
Uncompleted
New Sale
SPANISH VILLAGE
Condominium
Freehold
September 16, 2013 1,109
$1,755,000
$1,583
1987
Resale
Private
TANGLIN REGENCY
Condominium
99 years
September 16, 2013
990
$1,200,000
$1,212
1998
Resale
Private
ONE BALMORAL
Condominium
Freehold
September 13, 2013 1,658
$4,131,550
$2,492
Uncompleted
New Sale
Private
HOLLAND PEAK
Condominium
Freehold
September 13, 2013 2,551
$3,650,000
$1,431
1994
Resale
Private
ST REGIS
HDB
District 11 SHELFORD 23
Apartment
Freehold
September 20, 2013 1,313
$2,100,000
$1,599
2011
Resale
26 NEWTON
Apartment
Freehold
September 16, 2013
474
$1,190,000
$2,513
Uncompleted
New Sale
Private HDB
26 NEWTON
Apartment
Freehold
September 16, 2013
474
$1,190,000
$2,513
Uncompleted
New Sale
HDB
GLOUCESTER MANSIONS
Apartment
Freehold
September 16, 2013
657
$1,000,000
$1,523
1999
Resale
HDB
WATTEN RESIDENCES
Terrace House
Freehold
September 13, 2013 3,111
$3,350,000
$1,077
2011
Resale
HDB
District 12 RIVERSIDE MELODIES
Apartment
Freehold
September 16, 2013 1,561
$2,090,000
$1,339
Uncompleted
New Sale
Private
District 13 58 JALAN ANGGEREK
Semi-Detached House
Freehold
September 19, 2013 3,401
$3,700,000
$1,088
1975
Resale
HDB
District 14 WING FONG COURT
Apartment
Freehold
September 18, 2013
958
$828,000
$864
1997
Resale
WATERBANK AT DAKOTA
Condominium
99 years
September 16, 2013
883
$1,430,000
$1,620
2013
Sub Sale
Private
CITY PLAZA
Apartment
Freehold
September 13, 2013
915
$970,000
$1,060
1981
Resale
Private
THE ALCOVE
Apartment
99 years
September 13, 2013 1,302
$1,160,000
$891
2004
Resale
HDB
HDB
4 • THEEDGE SINGAPORE | OCTOBER 7, 2013
Done Deals
Apartment and condo transactions with contract dates from Sept 13 to 20
Project Property Tenure CONTRACT Floor Area Transacted Unit Price Completion Type of Type DATE (sq ft) Price ($) ($ psf) Date Sale District 15
Purchaser Address
THE SHORE RESIDENCES
Condominium
103 years
September 19, 2013 2,766
$4,900,000
$1,771
Uncompleted
New Sale
ONE AMBER
Condominium
Freehold
September 17, 2013 1,259
$1,940,000
$1,540
2010
Resale
Private HDB
WATER PLACE
Condominium
99 years
September 16, 2013
904
$1,290,000
$1,427
2004
Resale
Private
EASTBAY
Apartment
Freehold
September 16, 2013 1,722
$1,950,000
$1,132
2010
Resale
Private
CHELSEA LODGE
Apartment
Freehold
September 16, 2013
775
$895,000
$1,155
2000
Resale
Private
IDYLLIC RESIDENCES
Apartment
Freehold
September 16, 2013 1,109
$1,308,000
$1,180
2009
Resale
Private
COSTA RHU
Condominium
99 years
September 16, 2013 1,851
$2,088,000
$1,128
1997
Resale
Private
PEBBLE BAY
Condominium
99 years
September 13, 2013 1,894
$2,940,000
$1,552
1997
Resale
Private
District 16 BEDOK GROVE
Terrace House
Freehold
September 20, 2013 1,765
$2,680,000
$1,516
2002
Resale
APOLLO GARDENS
Apartment
Freehold
September 19, 2013 1,841
$1,430,000
$777
1984
Resale
THE GLADES
Condominium
99 years
September 16, 2013
840
$1,072,500
$1,277
Uncompleted
New Sale
THE BAYSHORE
Condominium
99 years
September 16, 2013
947
$965,000
$1,019
1997
Resale
Private HDB Private HDB
District 17 EDELWEISS PARK CONDOMINIUM
Condominium
Freehold
September 19, 2013 1,023
$990,000
$968
2006
Resale
SANDY PALM
Condominium
99 years
September 18, 2013 1,249
$998,000
$799
2002
Resale
Private HDB
8 CHIN TERRACE
Terrace House
Freehold
September 13, 2013 3,940
$3,500,000
$889
Unknown
Resale
Private
District 18 CITYLIFE@TAMPINES
Executive Condominium 99 years
September 19, 2013 1,098
$906,100
$825
Uncompleted
New Sale
CITYLIFE@TAMPINES
Executive Condominium 99 years
September 18, 2013 1,701
$1,295,000
$761
Uncompleted
New Sale
HDB
VUE 8 RESIDENCE
Condominium
September 18, 2013
474
$560,000
$1,182
Uncompleted
New Sale
Private
THE ESPARIS
Executive Condominium 99 years
99 years
HDB
September 16, 2013 1,184
$1,000,000
$845
2005
Resale
HDB
CHANGI RISE CONDOMINIUM Condominium
99 years
September 13, 2013 1,023
$985,000
$963
2004
Resale
HDB
Q BAY RESIDENCES
99 years
September 13, 2013 1,410
$1,372,140
$973
Uncompleted
New Sale
HDB
Condominium
District 19 KENSINGTON SQUARE
Apartment
Freehold
September 19, 2013
904
$1,166,160
$1,290
Uncompleted
New Sale
HDB
THE SCALA
Apartment
99 years
September 19, 2013
474
$775,000
$1,636
Uncompleted
Sub Sale
HDB
JEWEL @ BUANGKOK
Condominium
99 years
September 18, 2013
721
$880,850
$1,221
Uncompleted
New Sale
HDB
KENSINGTON SQUARE
Apartment
Freehold
September 17, 2013
732
$1,105,320
$1,510
Uncompleted
New Sale
Private
EVERGREEN PARK
Apartment
99 years
September 17, 2013 1,238
$1,010,000
$816
1999
Resale
KENSINGTON SQUARE
Apartment
Freehold
September 17, 2013
$1,095,000
$1,496
Uncompleted
New Sale
ECOPOLITAN
Executive Condominium 99 years
September 17, 2013 1,098
$875,300
$797
Uncompleted
New Sale
THE QUARTZ
Condominium
99 years
September 16, 2013 1,066
$1,180,000
$1,107
2009
Resale
Private
THE QUINN
Apartment
Freehold
September 16, 2013 1,701
$2,330,370
$1,370
Uncompleted
New Sale
Private
69 HIGHLAND ROAD
Terrace House
Freehold
September 16, 2013 2,056
$2,200,000
$1,073
Unknown
Resale
Private
PARRYVILLE
Terrace House
999 years
September 16, 2013 1,819
$3,070,000
$1,688
1990
Resale
Private
KENSINGTON SQUARE
Apartment
Freehold
September 16, 2013
829
$1,243,500
$1,500
Uncompleted
New Sale
Private
THE SCALA
Apartment
99 years
September 16, 2013
484
$780,000
$1,610
Uncompleted
Sub Sale
THE TEMBUSU
Condominium
Freehold
September 13, 2013 1,044
$1,658,000
$1,588
Uncompleted
New Sale
Private
THE TEMBUSU
Condominium
Freehold
September 13, 2013 1,216
$1,870,000
$1,537
Uncompleted
New Sale
Private
THE CHUAN
Condominium
999 years
September 13, 2013 1,582
$2,020,000
$1,277
2007
Resale
Private
732
HDB Private HDB
HDB
District 20 CLOVER BY THE PARK
Condominium
99 years
September 20, 2013 1,733
$2,100,000
$1,212
2011
Resale
Private
HORIZON GARDENS
Terrace House
99 years
September 19, 2013 3,014
$1,880,000
$624
2002
Resale
HDB
CENTRO RESIDENCES
Condominium
99 years
September 16, 2013
$1,200,000
$1,570
Uncompleted
Sub Sale
HDB
764
District 21 SPRINGDALE CONDOMINIUM Condominium
999 years
September 19, 2013 1,119
$1,338,000
$1,195
1998
Resale
Private
SIGNATURE PARK
Condominium
Freehold
September 16, 2013 1,421
$1,550,000
$1,091
1998
Resale
Private
GARDENVISTA
Condominium
99 years
September 13, 2013 1,249
$1,500,000
$1,201
2006
Resale
Private
District 22 J GATEWAY
Condominium
99 years
September 16, 2013
710
$1,194,300
$1,681
Uncompleted
New Sale
PARC VISTA
Condominium
99 years
September 16, 2013 1,055
$1,000,000
$948
1997
Resale
Private HDB
THE FLORAVALE
Executive Condominium 99 years
September 13, 2013 1,238
$920,000
$743
2000
Resale
HDB
District 23 PARKVIEW APARTMENTS
Apartment
99 years
September 20, 2013
980
$820,000
$837
1998
Resale
Private
REGENT GROVE
Condominium
99 years
September 18, 2013 1,195
$900,000
$753
2000
Resale
Private
PAVILION PARK
Semi-Detached House
Freehold
September 17, 2013 2,153
$3,500,000
$1,626
2009
Resale
LAUREL TREE
Apartment
Freehold
September 16, 2013
463
$598,000
$1,292
Uncompleted
New Sale
TREE HOUSE
Condominium
99 years
September 16, 2013 1,292
$1,100,000
$852
2013
Sub Sale
HDB
REGENT HEIGHTS
Condominium
99 years
September 16, 2013 1,163
$1,020,000
$877
1999
Resale
HDB
GLENDALE PARK
Condominium
Freehold
September 13, 2013 1,249
$1,300,000
$1,041
2000
Resale
HDB
HDB Private
THEEDGE SINGAPORE | OCTOBER 7, 2013 •5
Done Deals
Project
Property Tenure CONTRACT Type DATE
Floor Area (sq ft)
Transacted Unit Price Completion Price ($) ($ psf) Date
Type of Sale
Purchaser Address
District 25 FORESTVILLE
Executive Condominium 99 years
September 20, 2013 1,098
$834,100
$760
Uncompleted
New Sale
WOODSVALE
Executive Condominium 99 years
September 19, 2013 1,292
$915,000
$708
2000
Resale
Private
HDB
LA CASA
Executive Condominium 99 years
September 19, 2013
980
$855,000
$873
2008
Resale
HDB
FORESTVILLE
Executive Condominium 99 years
September 19, 2013 1,249
$953,090
$763
Uncompleted
New Sale
HDB
FORESTVILLE
Executive Condominium 99 years
September 18, 2013 1,625
$1,205,210
$742
Uncompleted
New Sale
HDB
FORESTVILLE
Executive Condominium 99 years
September 17, 2013 1,033
$757,150
$733
Uncompleted
New Sale
HDB
WOODSVALE
Executive Condominium 99 years
September 17, 2013 1,292
$925,000
$716
2000
Resale
HDB
FORESTVILLE
Executive Condominium 99 years
September 17, 2013 1,399
$1,090,400
$779
Uncompleted
New Sale
HDB
LA CASA
Executive Condominium 99 years
September 17, 2013
980
$780,000
$796
2008
Resale
HDB
FORESTVILLE
Executive Condominium 99 years
September 16, 2013 1,399
$1,112,575
$795
Uncompleted
New Sale
HDB
LA CASA
Executive Condominium 99 years
September 16, 2013
958
$838,000
$875
2008
Resale
HDB
FORESTVILLE
Executive Condominium 99 years
September 13, 2013 1,399
$1,082,015
$773
Uncompleted
New Sale
HDB
FORESTVILLE
Executive Condominium 99 years
September 13, 2013 1,292
$937,810
$726
Uncompleted
New Sale
HDB
TWIN FOUNTAINS
Executive Condominium 99 years
September 13, 2013 1,496
$1,134,320
$758
Uncompleted
New Sale
HDB
FORESTVILLE
Executive Condominium 99 years
September 13, 2013 1,292
$945,640
$732
Uncompleted
New Sale
HDB
CENTURY WOODS
Terrace House
99 years
September 13, 2013 1,615
$1,750,000
$1,084
2001
Resale
HDB
LA CASA
Executive Condominium 99 years
September 13, 2013 1,216
$975,000
$802
2008
Resale
HDB
FORESTVILLE
Executive Condominium 99 years
September 13, 2013 1,249
$878,600
$704
Uncompleted
New Sale
HDB
District 26 SEASONS PARK
Condominium
99 years
September 20, 2013 1,249
$1,188,000
$951
1997
Resale
HDB
BULLION PARK
Condominium
Freehold
September 17, 2013 1,259
$1,400,000
$1,112
1993
Resale
HDB
District 27 1 CANBERRA
Executive Condominium 99 years
September 16, 2013
947
$679,712
$718
Uncompleted
New Sale
HDB
District 28 LUSH ACRES
Executive Condominium 99 years
September 18, 2013 1,055
$832,300
$789
Uncompleted
New Sale
HDB
LUSH ACRES
Executive Condominium 99 years
September 17, 2013 1,055
$835,200
$792
Uncompleted
New Sale
HDB
LUSH ACRES
Executive Condominium 99 years
September 16, 2013
915
$805,140
$880
Uncompleted
New Sale
LUXUS HILLS
Terrace House
September 16, 2013 1,615
$3,130,000
$1,939
Unknown
Resale
999 years
DISCLAIMER: Source: URA Realis. Updated Oct 1, 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.
HDB Private