20180319 s ep 822 - dkc9trqgco1sw.cloudfront.net5 under the hammer second unit at turquoise put up...

Price reset seen ISLANDWIDE

With land costs on an upward trend — fuelled by bid prices at both government land tenders and en bloc sales —

new project launches such as Park Place Residences test new highs.See our Cover Story on Pages 8 and 9.

PROPERTY PERSONALISED

Visit EdgeProp.sg to nd properties, research market trends and read the latest news The week of March 19, 2018 | ISSUE 822-43

MCI (P) 136/08/2017 PPS 1519/09/2012 (022805)

SpotlightOle Scheeren’s DUO harmony

EP4&5

Under the HammerSecond unit at Turquoise

put up for mortgagee sale this year EP10

Done DealsCairnhill area sees renewed interest

EP12

Gains and LossesFour-bedroom unit at

Glentrees sold for $2.3 mil profi t EP14

SAMUEL ISAAC CHUA/THE EDGE SINGAPORE

The Eunos MRT station, with Paya Lebar Quarter on the right

EP2 • EDGEPROP | MARCH 19, 2018

E

HOMEFreehold Minbu Villa in Balestier up for sale at $145.8 mil reserve priceThe freehold, 34-unit Minbu Villa (above,

left), located off Balestier Road, has been

put up for sale, with a reserve price

of $145.8 million ($1,355 psf per plot

ratio (ppr)). It has a 38,426 sq ft site

area and a 2.8 plot ratio, which means

an allowable gross floor area (GFA) of

107,593 sq ft for the new project. The

redevelopment can have 142 units of

753 sq ft on average.

Savills Singapore is brokering the

collective sale. Owing to the site’s high

development baseline, the buyer does

not have to pay development charges.

Minbu Villa was completed in 1981.

The tender for the District 11 property

will close on April 17.

Lotus at Jervois sold en bloc for $46.3 milThe freehold, 20-unit Lotus @ Jervois on

Jervois Road was sold en bloc for $46.3

million ($1,683 psf ppr) on March 5.

According to an INLIS search, the ser-

viced apartment was owned by Pulau

Properties, which is believed to be linked

to entities controlled by the Lee family

of OCBC. EdgeProp understands that the

buyer is likely to redevelop the property.

This follows the sale of another The

Lotus Sanctuary-branded property. In

July 2017, Singapore-listed property

developer Oxley Holdings bought the

freehold Lotus @ Pasir Panjang for $121

million ($964 psf ppr). The 89,620 sq

ft site will be redeveloped into the 150-

unit The Verandah Residences.

CDL previews The Tapestry at TampinesSingapore property giant City Develop-

ments held the preview (right) for the

861-unit, 99-year leasehold The Tapestry

at Tampines Avenue 10, over the week-

end of March 10 and 11. The project will

be launched on March 24.

Prices started from $596,000 for a

441 sq ft, one-bedroom unit, and $2.1

million for a 1,765 sq ft, five-bedroom,

dual-key-with-study unit. Four-bedroom;

four-bedroom, dual key; and five-bed-

room, dual-key-with-study units will

have private lifts.

The project comprises seven 15-sto-

rey blocks. The facilities include a 100m

infinity pool, sunken tennis court, child-

care centre and pets’ pavilion.

Across the road from The Tapestry

is Chinese developer MCC Land’s 626-

unit The Alps Residences. According

to a market source, 25 units remain for

sale at The Alps Residences.

Lian Beng in buy-and-leaseback deal for OCN BuildingSingapore property company Lian

Beng Group announced on March 12

that it is acquiring OCN Building on

Joo Chiat Road in a buy-and-leaseback

deal, for $27 million plus Goods and

Services Tax.

The four-storey commercial building

with an attic and basement car park has

a GFA of 24,714 sq ft. It will be leased

back to vendor TTAT Investment for

five years from the completion date of

the acquisition, with an option to re-

new for another three years.

Perennial Real Estate buys Pontiac Land’s stake in The CapitolSingapore real estate and healthcare

company Perennial Real Estate Hold-

ings is acquiring joint-venture partner

and real estate company Pontiac Land’s

stake in The Capitol for $129.6 million.

As part of the sale and purchase

agreement, Perennial will pay back with

interest a $369 million loan that Ponti-

ac Land made to entities holding The

Capitol. Perennial will also make ancil-

lary payments of $3 million to Pontiac

Land’s hospitality entity, Patina Hotels

and Resorts.

The Capitol is a mixed-use develop-

ment on Stamford Road in Singapore’s

civic and cultural district. It includes a

residential component, the 39-unit Eden

Residences Capitol, the 157-unit bou-

tique hotel The Patina, Capitol Singa-

pore, luxury retail component Capitol

Piazza and the Capitol Theatre.

Singapore has strong short-term momentum and is future-proof: JLLSingapore was one of two cities that

scored high in terms of short-term so-

cio-economic and commercial real es-

tate momentum as well as future-proof-

ing attributes, according to JLL Global

Research’s City Momentum Index 2018.

The other city was Seattle.

Singapore’s stronger short-term mo-

mentum for 2018 was partly owing to

increasing corporate demand for office

space, spurred by rising global trade lev-

els, notes JLL. Net absorption for office

space in the CBD reached the highest

level in 11 quarters in 4Q2017, while

full-year net absorption was more than

double of 2016, according to an earlier

report by JLL.

Twenty-five Asia-Pacific cities made

the global top 30 rankings for the Short-

Term Momentum component, based on

attributes such as recent and project-

ed changes in GDP and population, as

well as office net absorption and office

rents. The Asia-Pacific cities that made

the list include Hyderabad (1st), Ban-

galore (2nd), Ho Chi Minh City (3rd)

and Hanoi (6th).

However, Asian cities did not rank

high in terms of future economic strength

and real estate momentum in the longer

term, based on attributes measured by

the index, which included education and

public transport infrastructure. North

American cities such as San Fransisco

and Silicon Valley scored highest in the

Future-Proofing component.

OVERSEAS

APAC Realty partners MLN Overseas to serve Chinese property buyersSingapore-listed real estate services pro-

vider APAC Realty, which operates a real

estate brokerage under the ERA Real-

ty brand, is partnering Chinese real es-

tate firm MLN Overseas (Singapore) to

provide Chinese property buyers with

after-sale services on their purchases

in Singapore, Thailand and Malaysia.

This involves helping Chinese buy-

ers to lease out or resell their properties

in these countries. “We have more than

1,000 units in Malaysia and more than

400 in Thailand waiting to be leased

out or resold,” says Juliet Zhu, pres-

ident and executive director of MLN

Overseas (Singapore).

These units are in projects such as

Forest City by Hong Kong-listed Country

Garden Holdings and Malaysian partner

Esplanade Danga 88, and the 672-unit

The Excel Hideaway Sukhumvit 71 in

Bangkok, developed by Thai property

company All Inspire Development.

“We are also receiving more enquir-

ies from Chinese buyers about Singa-

pore properties,” Zhu comments. “As

such, we look forward to working close-

ly with ERA Singapore, Malaysia and

Thailand,” she adds.

Ucommune merges with Woo Space Chinese co-working operators Ucommune

and Woo Space announced their merger

on March 13. This involves Ucommune

buying the latter, which has 23 locations

in China occupying a total area of 1.08

million sq m and more than 700 mem-

ber enterprises.

This will bring Ucommune’s valua-

tion to US$1.7 billion ($2.23 billion) and

increase its count of individual mem-

bers to an estimated 200,000.

Founded in 2015, Woo Space’s in-

vestors include US-China venture cap-

ital firm Matrix Partners China.

Top Capital Group to launch Birmingham project Arden GateHong Kong property developer Top Cap-

ital Group will be launching its 225-

unit, 150-year leasehold Birmingham

project Arden Gate (above, right) at the

Four Seasons Hotel Singapore, over the

weekend of March 17 and 18.

Units include one- and two-bedroom

apartments and two-bedroom duplexes of

between 486 and 861 sq ft. Prices range

from £182,950 ($333,964) to £333,950.

Arden Gate occupies a 0.55ha site on

William Street in Birmingham’s city cen-

tre. It is slated for completion in 4Q2019.

Oxley Holdings to sell office block lease at Dublin LandingsOxley Holdings is in the final round of

negotiations to sell a 300-year lease of

an eight-storey waterfront office building

(Block D1) at mixed-use project Dub-

lin Landings. It is jointly developing

the €835 million ($1.36 billion) Dub-

lin Landings with Irish property firm

Ballymore.

Oxley bought a 300-year lease on the

2.35ha Dublin Landings site from Irish

state-funded property company Nation-

al Asset Management Agency (NAMA)

in December 2014. Located next to the

new headquarters of the Central Bank

of Ireland, Dublin Landings will have

700,000 sq ft of Grade-A office and re-

tail space and 273 luxury apartments

when completed.

Construction of Block D1 is slated

for completion in May 2018. NAMA has

leased all 220,000 sq ft of space within

Block D1 for the next 25 years. The oth-

er office blocks (D2, A, B and E) will be

progressively completed between May

2018 and 2Q2020. Oxley says it plans to

sell all five office blocks. — Compiled

by Angela Teo

PROPERTY BRIEFS

SAVILLS SINGAPORE

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EDGEPROP | MARCH 19, 2018 • EP3

SPOTLIGHT


Ole Scheeren’s DUO harmony| BY BONG XIN YING |

Ole Scheeren, principal architect of his eponymous

architectural firm, looked impeccable in a dark suit

and crisp white shirt as he emerged from DUO Tow-

er, part of an integrated development on Beach Road,

which he designed.

The $4 billion DUO integrated development was com-

pleted last year by M+S, a joint-venture (JV) company set

up by sovereign wealth funds Khazanah Nasional of Malay-

sia and Singapore’s Temasek Holdings. DUO comprises the

49-storey DUO Residences, with 660 units, and the 39-storey

DUO Tower, which contains Grade-A offices and Andaz Sin-

gapore, a 342-room luxury hotel. In the evenings, the devel-

opment stands out in the skyline when its honeycomb shad-

ing system is lighted.

For Scheeren, the most important part of a development is

its community space. Hence, the central feature of DUO is its

landscaped plaza. “The intention had always been to create

something beautiful and to give the space back to the public,”

explains the 47-year-old. “It was never to create a gated com-

munity but an active and exciting urban centre.”

DUO Galleria features retail and F&B outlets, including Pe-

ruvian restaurant Tono Cevicheria, the Italian-inspired Erwin’s

Gastrobar, as well as So France gourmet grocery and bistro.

The entire development is linked to the Bugis MRT station,

which is an interchange for the Downtown and East-West Lines.

Scheeren points to the two towers. “Look up,” he says.

“With every step, something completely different happens —

the towers seem to come towards each other and sometimes,

they move away.” The two towers were designed with this

harmonious, fluid movement in mind, as though engaged in

The two towers of DUO have a fluid architectural design

Scheeren: The intention had always been to create something beautiful and to give the space back to the public View of Bugis towards the CBD from DUO Tower

PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE

a dance. It is symbolic of the relationship between the two JV

partners, Singapore and Malaysia. The site that DUO sits on

was one of the parcels that were part of the historic land swap

deal between the two countries.

Besides fluidity in architectural design, what was important

for Scheeren was the openness and connectivity between the

two towers. To him, it was important to have a sense of space

— whether moving from the central plaza to the lobbies of the

office tower or the residential tower.

When DUO Residences was launched in late 2013, it saw

strong sales. So far, the project is close to 97% sold. Only 20

units are available, with prices ranging from $3.8 million to

$6.5 million, or from $2,200 psf. About 70% of the buyers

are Singaporeans, according to an M+S spokesperson. The

remainder are from China, Hong Kong, Indonesia, Malaysia,

and even the US.

DUO is not Scheeren’s first project in Singapore. His maid-

en development was the 1,040-unit The Interlace, developed

by a consortium led by CapitaLand. Completed in 2013, The

Interlace is notable for its 31 blocks stacked in a hexagonal

arrangement. The development won the World Building of

the Year award in 2015 — the top prize at the World Archi-

tecture Festival.

In Bangkok, Scheeren designed MahaNakhon, a 77-storey

skyscraper that is the tallest building in Thailand today.

He shot to stardom when he designed the iconic CCTV head-

quarters in Beijing while he was at OMA, or Office for Met-

ropolitan Architecture. He left OMA in 2010 to set up his own

studio, Büro Ole Scheeren. Besides the CCTV HQ, Scheeren

also designed the Guardian Art Centre, a cultural complex in

Beijing that was recently completed.

Scheeren grew up in Karlsruhe, a city in southwest Germa-

ny, before he left home at the age of 21. He has been in Asia

ever since, but he hopes to return to Europe someday.

When it comes to architecture, Scheeren believes in devel-

oping a sense of space. “Architecture is not an abstract mat-

ter,” he says. “We craft places where ideas come alive, and

which become an integral part of people’s lives. That’s what

we hope to achieve with DUO.”

The living area of one of the show suites at DUO Residences

The living area of a two-bedroom unit at DUO Residences

The view of the swimming pools from a 42nd-floor unit at DUO ResidencesE


| BY WONG EE LIN |

IOI Properties Group (IOI Prop) has terminated its agreement

with Hongkong Land International Holdings Ltd to jointly

develop and manage a land parcel on Central Boulevard in

Singapore.

The termination is owing to the “non-fulfilment of cer-

tain conditions precedent”, says IOI Prop. This confirms a re-

port by The Edge Malaysia in its Feb 26 issue that said some

conditions precedent in the contract remained pending at the

time of writing.

The process of obtaining longer-term financing also hit a

snag, the weekly reported, quoting sources.

But in another report in its March 12 issue, The Edge Ma-

laysia said the developer was believed to have reached long-

term financing deals with five banks amounting to $1.6 billion.

The five banks are DBS Bank, United Overseas Bank, Bank

of Tokyo-Mitsubishi UFJ, OCBC and Sumitomo Mitsui Bank-

ing Corp. That leaves another $300 million in financing that

is being negotiated with Bank of China, people familiar with

the matter were quoted as saying.

In a filing with Bursa Malaysia on March 13, IOI Prop said

the termination would not impact the development of the Cen-

tral Boulevard site. This is because the group has sufficient in-

depth expertise, financial capabilities and track record of oth-

er completed projects in Singapore, it said.

The group added that the termination is also not expect-

ed to have any material impact on its earnings per share and

net asset per share.

The group had announced in November 2016 that its unit,

Wealthy Link Pte Ltd, had successfully tendered for the Cen-

tral Boulevard site for $2.57 billion. Wealthy Link reportedly

paid a deposit of RM2.4 billion for the land.

The plan was to build two office towers with 1.26 million

sq ft of leasable space and a retail podium of about 30,000 sq

ft on the 1.1ha site located in Marina Bay and the Central Busi-

ness District of Singapore.

IOI Prop said on March 13 Wealthy Link obtained provi-

sional permission from URA in February to commence devel-

opment works on the land. “The tender for the piling works

has been awarded and construction has already commenced,”

the group said.

In its November 2016 announcement, IOI Prop said URA re-

quired developers to complete their projects within 84 months,

or seven years.

Should any tender conditions be breached, including miss-

ing the completion deadline, URA may repossess the land, the

group said, adding that any payments made to URA may also

be forfeited in that scenario.

IOI Prop’s share price closed down one sen, or 0.55%, at

RM1.81 on March 13. It has a market capitalisation of RM10.02

billion ($3.36 billion).

This story first appeared in The Edge Financial Daily on March

14, 2018

The plan was to build two office towers with 1.26 million sq ft of leasable space and a retail podium of about 30,000 sq ft on the 1.1ha site located in the CBD

IOI Prop scraps agreement with Hongkong Land

INDUSTRY WATCH


E

PROPERTY TAKE


Office rents on the rise as leasing activity picks up

Prime office rents are advancing

steadily at the moment, with

many landlords becoming in-

creasingly bullish about the

medium term. Asking rates

per month for top-grade prime of-

fice buildings now average $12.50

to $13 psf, with many of the premi-

um buildings quoting the same rates.

Bottom-line effective rates now range

between $11 and $12 psf.

At Raffles Place, effective rents

now average $8.50 to $10 psf, except

at buildings such as 6 Battery Road,

Ocean Financial Centre (OFC) and

OUE Bayfront, where rents are clos-

er to $12 psf. On the fringe of Raf-

fles Place, rents range from $7.50 to

$9.50 psf. Rates at Robinson Road/

Shenton Way are also firming up be-

cause there has been so much activ-

ity. Before, there was ample choice

for premises leased around $6.50

psf, but now options range from $7

to $8.50 psf.

Tanjong Pagar has quite a wide

spread of rates, with effective rents

ranging from $6.50 to $8.50 psf.

Beach Road-Marina Bay-Suntec has

the widest spread of all locations,

ranging from $6.50 to $6.80 psf ef-

fective for The Concourse and The

Gateway to $12 psf for Centennial

Tower and Millenia Tower. In the

medium range, there is Suntec City,

where rent is around $8.50 psf, and

DUO Tower, where rent is from $9

psf, depending on size.

Orchard Road sees very little fluc-

tuation because leasing activity is lim-

ited. Again, the spread is quite wide

in this location, ranging from $6.50

to $10 psf, because the age and type

of buildings here vary a lot. Thom-

son Road-Novena is good value at

between $7 and $8 psf.

New space taken up by large usersSingapore’s office market has been

busy over the last six months, with

many large space users committing

to space, moving before supply be-

comes more restricted in 2019. The

next wave of new supply will become

available only in 2020/21, which has

spurred demand in the current market.

All new developments are filling

up quicker than anticipated. Some

tenants are coming from unexpected

sources and schemes such as Paya

Lebar Quarter have been the bene-

ficiaries. PLQ, which has an area of

883,000 sq ft, is currently 50% com-

mitted, some nine months before the

targeted completion in 4Q2018.

The big news is that SMRT Corp

plans to relocate its headquarters

from City Hall-North Bridge Road

to PLQ and take up three floors to-

talling about 100,000 sq ft. A large

multinational insurance company

has committed to take up four floors

in Tower 3, amounting to more than

120,000 sq ft. Tower 3 is therefore

fully leased.

The other new developments

continue to secure major tenants.

Frasers Tower recently leased five

floors (amounting to 125,000 sq ft)

to Total Oil Asia-Pacific, as well as

space to China Construction. Law

firm Rajah & Tann, which currently

occupies around 85,000 sq ft over 10

floors in MYP Centre, will be relo-

cating to Marina One in 2019. Mean-

while, oil and gas giant Chevron has

leased 73,000 sq ft at DUO Tower.

Co-working — expansion to continueThe expansion of co-working space

operators has been quite phenome-

nal, and WeWork is fast becoming

one of the largest occupiers of office

space in Singapore. It is already the

largest occupier of office space in

London and is targeting to secure a

portfolio of office space in Singapore

of more than 300,000 sq ft within the

next two years.

WeWork launched in Singapore

only five months ago in Beach Cen-

tre, occupying 30,000 sq ft. Since

then, it has secured 60,000 sq ft of

space at 71 Robinson Road as well

as committed to taking up two floors

at Suntec Tower Five. It will also be

taking up four floors totalling 30,000

sq ft at China Square Central; 34,000

sq ft spanning four floors at City

House and 20,000 sq ft on a single

floor at Mapletree Anson. WeWork

has even pre-leased 40,000 sq ft at

CapitaLand’s mixed-use commercial

development Funan.

WeWork is planning to open one

new location every three months over

the next 1½ years. Each location will

have a typical floor area of 30,000 sq

ft. Its space at each location is usu-

ally taken up within three months of

opening, which goes to show how

successful this concept is.

Another co-working space opera-

tor, The Great Room, recently opened

its new space at Centennial Tower,

while Collision 8 has expanded, tak-

ing up two whole floors at 79 Anson

Road in addition to their flagship at

High Street Centre.

Landlords jump inThe proliferation of co-working space

operators in Singapore is unprecedent-

ed. The rate of growth is set to con-

tinue and it seems that almost every

other building has either a business

centre or co-working premises, or

sometimes both.

Some landlords are planning to

provide such space directly with-

in their own new schemes. For in-

stance, PLQ is setting aside 15% of

its office space to co-working/ser-

viced offices. This would amount to

around 100,000 sq ft.

With so many operators expand-

ing into this market, when will it

reach saturation point? Ultimately,

| BY DOUGLAS DUNKERLEY |

At Marina Bay, activity is still strong. Asia Square recently saw new tenants, namely Resona Merchant Bank (formerly known as AFC Merchant Bank), My United Traders and consulting firm Booz Allen & Hamilton. Search engine optimisation specialist Ahrefs has leased space in Marina One (pictured, left) East Tower.


PROPERTY TAKE


some consolidation is expected, but

for the moment, there seems to be

no end to this phenomenon.

The amount of space these

co-working space operators has com-

mitted to has had a significant effect

on the overall take-up.

Limited supply of large office space at Raffles PlaceLimited supply of large office spaces

at Raffles Place has restricted leasing

activity to small and medium-sized

deals. CapitaGreen has attracted sev-

eral big names, including Dow Jones

(relocating from International Plaza)

and M&G Investments (from Marina

Bay Financial Centre).

New tenants at OUE Bayfront in-

clude oil and gas firm Novatek, Amer-

ican hedge fund BlueCrest Capital

Management and hearing aid firm

Amplifon Asia Pacific.

One Raffles Place has been par-

ticularly busy. At Tower 2, IT firm

Cloudera leased 18,000 sq ft over

two floors. Immigration@SG moved

into Tower 1, along with Ramsay

Health Care, which will be moving

in from OFC.

New tenants to OFC include com-

pliance and regulatory adviser Duff

& Phelps (from Chevron House) as

well as consulting firm Roland Berg-

er (from OUE Bayfront). Republic

Plaza is offering competitive deals

and the latest tenant there is online

travel specialist Sojern Asia.

At Marina Bay, activity is still

strong. Asia Square recently saw new

tenants, namely Resona Merchant

Bank (formerly known as AFC Mer-

chant Bank), My United Traders and

consulting firm Booz Allen & Ham-

ilton. SEO (search engine optimisa-

tion) tool providers Ahrefs has leased

space at Marina One East Tower.

Attractive deals in secondary CBD office spaceThe Robinson Road-Shenton Way

area has been offering some very

attractive deals, which has tempt-

ed many tenants. Robinson 77 has

leased space to Pirelli Asia (which

moved from Keck Seng Tower) as

well as one floor to communications

consultant Watatawa and two floors

to NTUC Link.

Property developer Singhaiyi

Group, marine shipping company

Grace Ocean and international game

developer Wargaming Asia have

moved into OUE Downtown 1. Mean-

while, OUE Downtown 2 has secured

chemicals firm LSH Industrial Solu-

tions Singapore as a new tenant. Vi-

tamin and supplement brand Black-

mores International has moved from

OCBC Centre to SBF Centre, while

Midea Electric Trading has leased a

floor at 158 Cecil Street.

Tanjong Pagar is still the most

competitive location and has seen

healthy activity. French media firm

Publicis Groupe is leasing one whole

floor at Mapletree Anson. Collision 8

has expanded to lease two floors at

79 Anson Road totalling 22,000 sq ft.

Companies that have moved into

Fuji Xerox Tower include Dutch dairy

co-operative FrieslandCampina Sin-

gapore as well as Krones-Izumi, a

beverage processing company. Mel-

aka’s Kuala Linggi International Port

oil facility and investment manager

Essential Capital has moved into AXA

Tower. Recent tenants at 78 Shenton

Way include executive search firm

Orion Consulting and building ma-

terials supplier USG Boral.

Relocations in CBD fringe areaCarlson Wagonlit, one of the larger

tenants that needed to relocate from

Hub Synergy Point, has moved into

one whole floor at Parkview Square.

E-payment firm Ingenico has ex-

panded significantly at The Gate-

way. Other new tenants here include

card printer Datacard and European

distributor of paper and packaging

solutions Antalis.

Suntec City is always busy.

Co-working space operator UCom-

mune (formerly known as Ur Work)

has leased a floor at Tower 2. Oth-

er new tenants include energy trad-

er Mabanaft, cybersecurity software

firm Fortinet, investment manage-

ment firm Infinite Demarco, media

and events start-up Tech in Asia and

software company MuleSoft.

Shadow space provides opportunity While all the new developments are

making most of the headline deals,

the smart money could be looking

at what shadow space is coming up.

Shadow space is space that is often

not on the open market but is avail-

able at a future date as a result of all

those major relocations.

There will be quite a variety of

buildings that will have substantial

space becoming available as a result

of their anchor tenant moving. Some

of these buildings with smaller floor

plates will suit tenants with smaller

space requirements.

Substantial space could be availa-

ble at One Marina Boulevard when

Microsoft relocates to Frasers Tower

in 2019. At OFC, several floors will

be available in August as a result of

Australia and New Zealand Bank-

ing Group’s right-sizing. MYP Cen-

tre could also have substantial space

available from 2019 when Rajah &

Tann moves to Marina One.

Market forecastOver the next 12 months, we predict

that prime office rates will increase

8% to 10%, owing to sustained de-

mand and declining supply. Industries

that continue to grow the strongest

include IT, fintech, energy, private

wealth management and, of course,

co-working space operators.

The secondary market has not

suffered as much as expected, and

while some buildings see large unused

space as a result of anchor tenants

relocating, the occupancy rate in this

category is still relatively high. Rent-

al growth in this segment is likely to

be more modest until supply tight-

ens further. We still expect rates to

firm around 5% to 7%.

The CBD fringe locations have seen

less activity compared with other lo-

cations. We expect rates to be flat in

this segment for the next 12 months,

although supply is just beginning to

show the first signs of contraction.

Douglas Dunkerley is founder and

director of Corporate Locations,

specialists in office leasing

At Raffles Place, effective rents now average $8.50 to $10 psf, except at buildings such as 6 Battery Road, Ocean Financial Centre and OUE Bayfront, where rents are closer to $12 psf

Suntec City is always busy. Recent tenants include co-working space operator UCommune, energy trader Mabanaft andcybersecurity software firm Fortinet.

WeWork at Beach Centre. The giant co-working space operator plans to open one new location every 12 weeks for the next 1½ years.

E

COVER STORY


| BY CECILIA CHOW |

Listed Australian property giant

Lendlease intends to open the

show suite of Park Place Res-

idences for public preview on

March 24, with the launch of

Phase Two of the project slated for

April 7.

When the first phase of Park

Place Residences was launched in

March last year, 210 units were sold

in a single day at an average price

of $1,800 psf. It marked a record

achievement in an otherwise un-

tested area that the Singapore gov-

ernment had designated as a new

commercial district called Paya Leb-

ar Central in 2008.

Tony Lombardo, Lendlease CEO

for Asia, attributes the success of

Phase One of Park Place Residences

to a number of factors, primarily pent-

up demand and the fact that it is part

of Paya Lebar Quarter (PLQ), a fully

integrated development.

“Discerning homebuyers and in-

vestors recognise the value proposi-

tion of superior connectivity, green

spaces, convenience and quality that

Park Place Residences offers as part

of the PLQ integrated development,”

says Tan Tee Khoon, Knight Frank

head of residential project marketing.

Besides the 429-unit Park Place

Residences spanning three 17-sto-

rey towers, the $3.2 billion PLQ will

have a six-storey mall with more

than 200 shops, three Grade-A office

towers with close to a million sq ft

of space and 100,000 sq ft of public

landscaped space, which Lombar-

do says is equivalent to 20 basket-

ball courts.

The entire development will be

linked directly to the Paya Lebar

MRT interchange station for the Cir-

cle and East-West Lines. “It is six

stops from the CBD and six stops

to Changi Airport,” says Lombardo.

The office towers are already more

than 50% leased, and tenants include

SMRT Corp. Even the mall, which

has 340,000 sq ft of retail space, is

more than 50% taken up, with new

tenant Shaw Theatres joining other

anchor tenants FairPrice Finest su-

permarket and Kopitiam food court.

Park Place sets the paceThe second phase of 219 units at

Park Place Residences will be priced

about 5% higher than the units sold

in the first phase, says Lendlease’s

Lombardo. There are 43 one-bed-

room units of 480 to 580 sq ft, with

prices starting from $900,000. Anoth-

er 110 units are two-bedroom apart-

ments of 650 to 900 sq ft that start

from $1.15 million. The remaining 66

units are three-bedroom apartments

of 1,080 to 1,350 sq ft that start from

$1.8 million.

“Looking at the past year’s price

trend, coupled with the positive mar-

ket sentiment and recovery, the price

adjustment is compelling in the light

of potential price escalation in future

projects,” notes Alice Tan, Knight

Frank Singapore head of consultan-

cy and research.

When Lendlease purchased the

99-year leasehold site in a govern-

ment land sale tender for $1.67 bil-

lion, or $943 psf per plot ratio (ppr),

in March 2015, it was considered a

bullish bid. Each subsequent GLS

site has been sold at a higher psf

ppr price since, says Lombardo. Last

June, a joint venture between Singa-

pore Press Holdings and Kajima De-

velopment submitted a top bid for a

mixed-use site at Bidadari of $1.13

billion, or $1,181 psf ppr.

“We believe that prices can only

head north in the days ahead in the

light of firmer economic growth,

brighter business prospects and strong-

er demand for property this year,”

says Knight Frank’s Tan. “Integrat-

ed developments always command

Price reset seen islandwide With land costs on an upward trend — fuelled by bid prices at both government land tenders and en bloc sales — new project launches such as Park Place Residences test new highs

Park Place Residences will open its show suite to the public on March 24 and launch on April 7

The second phase of 219 units at Park Place Residences will be priced about 5% higher than the units sold in the first phase, says Lombardo

PICTURES: ALBERT CHUA/THE EDGE SINGAPORE

COVER STORY


a higher premium over pure residen-

tial developments in the long term.”

Future prices in Eunos — $1,700-$1,800 psfThe increase in land prices will natu-

rally lead to a repricing of residential

property, notes Shaun Poh, Cushman &

Wakefield’s executive director of capi-

tal markets. In late February, the Minis-

try of National Development increased

the development charge (DC) rate for

non-landed residential use from March

1 to Aug 31 by an average of 22.8%. It

was the highest increase in a decade.

In the neighbourhood of Eunos,

near Paya Lebar Central, Fragrance

Group paid $220 million for Eunos

Mansion on March 9. The price of

the en bloc purchase translates into

$1,118 psf ppr. The deal was bro-

kered by Cushman & Wakefield. Poh

reckons the break-even price is likely

to be $1,500 to $1,600 psf, with the

future selling price of the new pro-

ject pegged at $1,700 psf or higher.

Another upcoming development

in Eunos is on the site of the priva-

tised HUDC estate Eunosville. It was

sold en bloc to MCL Land last June

for $765.78 million, which reflected

a land rate of $909 psf ppr, includ-

ing a development premium for in-

tensifying the land use and topping

up the lease to 99 years.

The new development on the site

of Eunosville will have 1,399 condo-

minium units and five shops. It is like-

ly to be launched towards year-end.

Based on the land rate of $909

psf ppr, the break-even price is es-

timated to be $1,400 to $1,500 psf

and the launch price is likely to be

$1,700 to $1,800 psf, says Alex Oh,

executive director of OrangeTee Ad-

visory. OrangeTee was the market-

ing agent for Eunosville.

“The site is located just next to the

Eunos MRT station and one stop from

the Paya Lebar MRT interchange,” he

says. “Park Place Residences at PLQ

will set the benchmark for the area.”

Neighbouring launches benefitThe repricing taking place in the mi-

crocosm of Paya Lebar-Eunos-Sims

Drive-Geylang East is a reflection of

what is happening across most parts

of Singapore, notes Tan Hong Boon,

JLL regional director. “If you look at

en bloc prices achieved in the Am-

ber Road-Meyer Road area of $1,400

to $1,500 psf ppr, future projects on

these sites are likely to be launched

at prices above $2,000 psf,” he says.

“In the Bukit Timah area, land pric-

es of $1,800 to $1,900 psf ppr will

lead to new projects being launched

at $2,700 to $2,800 psf. In the prime

districts, new projects will take their

cue from New Futura, where prices

have already crossed $3,500 psf.”

Cushman & Wakefield’s Poh is

of the same view. “There is no huge

pipeline,” he says. “Developers are

timing their launches, and even those

projects that were launched last year

or earlier are adjusting their selling

prices upwards.”

A case in point is TRE Residences

at Geylang East Avenue 1. The devel-

opers of the 250-unit, 99-year lease-

hold condo took the opportunity to

relaunch the project last year when

the first phase of Park Place Resi-

dences made its debut in March last

year. Developed by Sustained Land,

Greatview Development and MCC

Land, TRE Residences is located next

to the Aljunied MRT station and one

stop from the Paya Lebar interchange.

Following the relaunch, all the units

have been sold, at prices ranging from

$1,360 to $1,540 psf, according to ca-

veats lodged in January and February.

Just a short drive from Paya Leb-

ar Central is GuocoLand’s 1,024-unit

Sims Urban Oasis on Sims Drive.

The project was completed last year,

and only 30 units are still available

for sale. The developer is pricing

the remaining units at higher prices

of $1,400 to $1,600 psf, compared

with the average price of $1,395 psf

achieved for units sold.

Biggest en bloc in the areaEn bloc sales have also led to an es-

calating increase in land prices and

prices at new launches. However,

JLL’s Tan sees prices in the subur-

ban region stabilising. “It’s simply

because prices have run up in the

past year,” he says.

This has not dampened sentiment

in the en bloc market, though. Two

MRT stops from Paya Lebar Central is

Windy Heights on Jalan Daud in Kem-

bangan. The private residential estate

with 192 apartments, eight penthous-

es and two commercial units sits on

a freehold land area of 250,702 sq ft.

The price tag on the collective sale site

is $806.2 million, or $1,288 psf ppr. If

the 10% bonus gross floor area (GFA)

for balconies is included, the land rate

would be $1,171 psf ppr.

The tender for Windy Heights

will close on April 18. If sold, it will

be the biggest en bloc sale done this

year, says Ian Loh, Knight Frank head

of investment and capital markets,

who is marketing the property. Loh

also brokered the collective sale of

Goodluck Garden, which was sold to

Qingjian Realty on March 9 for $610

million, the largest en bloc sale in

terms of absolute price so far this year.

If the sale price of Windy Heights

is achieved, the new development is

likely to be priced at $1,800 to $2,000

psf, estimates Loh. He attributes this

to its freehold tenure.

City Plaza attempts collective saleLocated just across the road from PLQ

is City Plaza, a mixed-use develop-

ment with 465 strata retail units and

66 apartments that was built in 1981.

The strata owners in the freehold de-

velopment are now attempting an en

bloc sale. An extraordinary general

meeting was held on March 14 to de-

termine the reserve price and share

apportionment, according to Derrick

Chan, the chairman of the collective

sale committee at City Plaza.

Two strata retail units on the third

floor of City Plaza were sold in Jan-

uary: a 248 sq ft unit for $888,000

($3,587 psf) and a 226 sq ft unit for

$881,400 ($3,899 psf), according to

caveats lodged. The last transaction

of an apartment at City Plaza was

in April last year, when a 915 sq ft

unit on the 16th floor was sold for

$938,000 ($1,025 psf). “The City Pla-

za site is zoned for commercial de-

velopment,” says Chan. “It can be

redeveloped into a Grade-A office

development or a hotel.”

Another ageing mixed-use develop-

ment is Chinatown Plaza, whose en

bloc sale could be a catalyst for similar

developments to take the same route.

“Sometimes, all you need is for one

successful deal to boost everyone’s

expectations,” says OrangeTee’s Oh.

The tender for Chinatown Plaza,

located at the junction of Craig Road

and Neil Road in the CBD, closed on

March 15. It has a price tag of $270

million, or $1,989 psf of GFA, and is

being marketed by Edmund Tie & Co.

For now, positive sentiment and

increased market activity are likely

to continue, buoyed by sales of en

bloc and GLS sites, says Ong Choon

Fah, CEO of Edmund Tie & Co.

Cushman & Wakefield’s Poh agrees.

What could dampen housing demand

is if interest rates climb too steeply, he

adds. “However, the increase seems

to be gradual for now.”

Katong Regency (left) is located adjacent to Paya Lebar Central, where the crown jewel is Paya Lebar Quarter.

SingPost Centre is on the right.

The new development on the site of Eunosville will have 1,399 condominium units and five shops when it is launched towards year-end


SAMUEL ISAAC CHUA/THE EDGE SINGAPORE SAMUEL ISAAC CHUA/THE EDGE SINGAPORE

The owners at City Plaza, a 36-year-old mixed-use development located across the road from Paya Lebar Quarter, are in the midst of preparing for a collective sale

E

UNDER THE HAMMER


Second unit at Turquoise put upfor mortgagee sale this year| BY TIMOTHY TAY |

A 2,411 sq ft, four-bedroom

unit at Sentosa Cove condo-

minium Turquoise will be

put up for mortgagee sale

at Knight Frank’s auction

on March 20. The unit on the fourth

floor has a guide price of $3.55 million

($1,472 psf) to $3.7 million ($1,535

psf). If it goes under the hammer, it

will mark the fifth successful mort-

gagee sale at Sentosa Cove since the

start of 2017.

The 91-unit Turquoise has seen

13 transactions over the past five

years, of which seven were mortga-

gee sales. The most recent one in-

volved the unit next to the subject

unit. The 2,433 sq ft unit was auc-

tioned for $3.59 million ($1,476 psf)

on Jan 29. It was purchased at $6.29

million ($2,586 psf) in 2007, accord-

ing to URA caveat data.

A mortgagee sale refers to a prop-

erty that is put up for sale by a bank

to recover the remainder of a loan

from a borrower who has stopped

making loan repayments to the lend-

er. The most recent mortgagee sale

of a Sentosa Cove condo unit was

that of a duplex penthouse at The

Berth by The Cove, which was sold

on Feb 28. The 2,939 sq ft unit was

auctioned at $3.25 million ($1,105

psf), $2.39 million (42%) less than

the previous owner’s $5.64 million

($1,919 psf) purchase price in 2011.

Pent-up demand and palatable

property prices at Sentosa Cove have

resulted in a resurgence in buying in-

terest in residential properties in the

exclusive island enclave, says Sha-

ron Lee, head of auction at Knight

Frank. Potential buyers find that cur-

rent prices at Sentosa Cove are in-

creasingly attractive compared with

the prices of luxury condo units in

the prime districts and on the out-

skirts of the CBD. The psf price of

non-landed property in Sentosa is be-

tween $1,500 and $1,600 now, and

a home in Sentosa offers a more lei-

surely and tranquil lifestyle com-

pared with one near the CBD, she

says. Singaporeans’ perception of

Sentosa Cove is now more positive,

and they are willing to buy a home

there, she adds.

Eight prospective buyers attend-

ed the weekend preview of the sub-

ject unit at Turquoise held on March

10 and 11. Most of them are Singa-

poreans or permanent residents,

and more than one are looking to

purchase the unit as a home, says

Noelle Tan of Knight Frank, who is

handling the sale. The south-facing

unit has a view of the marina and

three en-suite bedrooms as well as

wet and dry kitchens. Based on a ca-

veat lodged, the unit was purchased

for $6.18 million ($2,539 psf) in 2007.

It is the first time the property is be-

ing sold in a mortgagee sale.

Many owners at Turquoise bought

their units at the peak of the last

property boom, says Lee. However,

she believes that owners with great-

er holding power are now less like-

ly to relinquish their unit in a mort-

gagee sale.

Prices for non-landed residential

properties at Sentosa Cove are expect-

ed to increase 5% to 10% by year-

end, and owners who can afford to

hold on to their properties are like-

ly to wait for prices to climb higher

before putting them on the market,

says Lee. However, rising interest

rates in the future may temper de-

mand and this will have a larger ef-

fect on buyers in the mass-market

segment, she cautions.

The auction, which will be held

at Amara Singapore on March 20,

will feature two other properties on

mortgagee sale. They are a 3,755 sq

ft, five-bedroom townhouse at the 99-

year leasehold Palm Isles, which has

a guide price of $2.45 million ($652

psf); and a 1,959 sq ft, three-bed-

room duplex penthouse at the free-

hold Ventura View in Joo Chiat,

which has a guide price of $1.75 mil-

lion ($893 psf).

The 2,411 sq ft unit at Turquoise is south- facing and has views of the marina

Turquoise is a 99-year leasehold luxury condominium that was completed in 2010

In recent years, Sentosa Cove condos such as The Berth by The Cove (pictured), the Seascape and Turquoise have seen units sold via mortgagee sales

E


OFFSHORE


SC Global unveils project in Niseko, Japan| BY LIN ZHIQIN |

Singapore-based luxury proper-

ty developer SC Global is set

to launch its first luxury pro-

ject in Japan later this year.

Named Setsu Niseko, the ho-

tel and residential development is lo-

cated in Niseko, a popular ski resort

in Hokkaido, Japan’s northernmost

prefecture.

According to SC Global, the pro-

ject represents its take on the ulti-

mate resort lifestyle and is expected

to set new benchmarks for design

and luxury living in Niseko. Locat-

ed on 2.54 acres of freehold land on

the Main Street of Grand Hirafu, the

biggest village in Niseko and its his-

toric heart, Setsu Niseko will com-

prise “over 150 exquisitely furnished

apartments” that will offer investors

a range of units ranging from stu-

dios to ultra-luxurious penthouses.

The site was purchased by SC Glob-

al last year for an undisclosed sum.

The development is flanked by

Mount Yotei, a scenic mountain also

known as the Mount Fuji of Hokkai-

do, and ski-haven Mount Annupuri,

according to SC Global. Hence, the

apartments will enjoy some of the

most magnificent uninterrupted vis-

tas that Niseko has to offer. “More

than [offering] a plush shelter from

the outside world, Setsu Niseko will

serve as cherished homes for its resi-

dents; a place in which to make mem-

ories amidst an inspiring natural land-

scape,” says SC Global.

Setsu Niseko is SC Global’s sec-

ond property in Japan. Its maiden

project was GINZA 12 — a 12-sto-

rey freehold commercial develop-

ment in Tokyo’s Ginza district. The

7,785 sq ft property is located close

to the Higashi Ginza Metro Station,

which sits at the intersection of two

major streets — Showa Dori and Ha-

rumi Dori. GINZA 12 has 13 leasa-

ble units — one on each floor and

the basement.

GINZA 12 is billed as a haven for

foodies, with 10 out of the 13 units

taken up by a curated selection of

F&B operators, including Kenji Taka-

hashi, the young up-and-coming

owner-chef of Michelin star restau-

rant Yoshifuku in Tokyo, which re-

ceived its first star in 2017. There is

also a restaurant by the team behind

sushi outlet Kamakura Izumi in Kan-

agawa prefecture, which received its

first Michelin star in 2013.

According to SC Global, other F&B

tenants include yakitori restaurant Ginza

Kashiwa, Ginza Sei Okoshi and Ginza

Kokage — which serve Japanese spe-

ciality cuisine — Sushi Benkei Umi as

well as a sake bar, steak bar, organic

restaurant and lounge bar. Two units

have been leased to spa and beauty

operators to complement the luxury

lifestyle positioning of the property.

The lease for the sole remaining unit

is currently under negotiation.

SC Global plans to continue ac-

quiring prime real estate in Japan to

ride the growing tourism market and

for geographical diversification.

Setsu Niseko will enjoy some of the most magnificent vistas that Niseko has to offer

SC GLOBAL

PERSONALITY

| BY LIN ZHIQIN |

Amid the ongoing transformation

of the real estate industry, some

things have not changed. “Agents

still need to work hard and talk to peo-

ple,” says Pravin Kumar, who has 15

years’ experience as a property agent.

According to Kumar, who is associ-

ate marketing director at Huttons Asia,

one of the best ways for agents to gain

clients is by expanding their social cir-

cle. “I love to socialise and meet people.

At the pub, café or restaurant, just chat

with people seated nearby,” he says.

“And I always tell them I’m an agent

and give them my name card.”

People are interested in real estate

and would always ask how the market

is doing, says Kumar, who is happy to

share his knowledge. “It’s okay if they

don’t want to buy or sell anything, as

long as they know I’m there for them

when they want to do so,” he adds.

Kumar’s advice to agents is to talk

to people. With transaction volumes

still sluggish, many agents have turned

to driving private-hire vehicles in their

spare time. “That’s a good chance to

connect with someone who could be-

come a client,” he says. Property agents

need to market themselves constantly

and “create some buzz”, he points out.

“Otherwise, how are you going to get

listings and buyers?”

Given the amount of information

available nowadays, clients have be-

come savvier. Many would-be buyers

would have researched the recent trans-

acted prices and rents at a condomin-

ium or its proximity to schools before

talking to an agent. Therefore, agents

have to work hard to equip themselves

with deeper knowledge, says Kumar.

“If you are doing rental in an area, you

must know it well. Don’t just list the

schools nearby. Find out and tell [pro-

spective buyers] what buses their chil-

dren can take to go to school and how

long it would take.”

Agents should also be well versed

in all aspects pertaining to real estate,

such as architecture, landscaping and

home appliances, notes Kumar. “If you

can tell buyers about the design, ma-

terials and brands used in the condo,

it creates a ‘feel good’ factor and helps

convince them that they are getting a

good unit for their money.”

As for those buying a property for

investment, “you have to work out the

rental yield for them and advise on the

types of units they should look at”, Ku-

mar says. Tenants are usually less con-

cerned about a unit’s orientation and

the heat from the afternoon sun as they

are out at work during the day, he adds.

Agents should study the businesses

in the surrounding area so as to advise

their investor clients on the profile of po-

tential tenants. “And experienced agents

will be able to advise on how long it

will take to rent out the unit,” he notes.

Connectivity to public transport is of-

ten the key to securing tenants quickly,

according to Kumar. “If there is no MRT

station or bus stop nearby, the take-up

will be slow and at a lower rent,” he

says. This has changed, however, with the

recent surge in popularity of bike-shar-

ing platforms such as Ofo and Mobike.

Kumar has observed that more tenants

are willing to rent units located further

away from MRT stations. “They say: ‘I

[cycle], so I don’t mind,’” he says. “The

sharing economy is benefiting the real

estate industry.”

Connectivity to public transport is often the key to securing tenants quickly, says Kumar

Veteran property agent shares tipsSAMUEL ISAAC CHUA/THE EDGE SINGAPORE

E

E


Singapore — by postal districtLOCALITIES DISTRICTSCity & Southwest 1 to 8Orchard/Tanglin/Holland 9 and 10Newton/Bukit Timah/Clementi 11 and 21Balestier/MacPherson/Geylang 12 to 14East Coast 15 and 16Changi/Pasir Ris 17 and 18Serangoon/Thomson 19 and 20West 22 to 24North 25 to 28

Residential transactions with contracts dated Feb 27 to March 6

District 1 MARINA BAY RESIDENCES Condominium 99 years February 28, 2018 710 1,600,000 - 2,252 2010 ResaleMARINA ONE RESIDENCES Apartment 99 years March 01, 2018 1,539 3,880,000 - 2,521 2017 New SaleTHE CLIFT Apartment 99 years March 02, 2018 506 1,100,000 - 2,174 2011 ResaleDistrict 2 ALTEZ Apartment 99 years February 28, 2018 603 1,300,000 - 2,157 2014 ResaleICON Apartment 99 years March 02, 2018 581 1,048,000 - 1,803 2007 ResaleTHE BEACON Apartment 99 years February 27, 2018 969 1,400,000 - 1,445 2008 ResaleDistrict 3 ARTRA Apartment 99 years February 27, 2018 1,044 1,894,500 - 1,814 Uncompleted New SaleARTRA Apartment 99 years March 04, 2018 1,044 2,036,200 - 1,950 Uncompleted New SaleHIGHLINE RESIDENCES Condominium 99 years February 28, 2018 1,206 2,500,000 - 2,074 2018 New SaleQUEENS Condominium 99 years February 27, 2018 1,184 1,450,000 - 1,225 2002 ResaleQUEENS PEAK Condominium 99 years February 27, 2018 1,507 2,535,000 - 1,682 Uncompleted New SaleQUEENS PEAK Condominium 99 years February 27, 2018 1,507 2,511,000 - 1,666 Uncompleted New SaleQUEENS PEAK Condominium 99 years February 27, 2018 2,002 3,270,000 - 1,633 Uncompleted New SaleQUEENS PEAK Condominium 99 years February 28, 2018 840 1,608,000 - 1,915 Uncompleted New SaleQUEENS PEAK Condominium 99 years February 28, 2018 807 1,515,000 - 1,877 Uncompleted New SaleQUEENS PEAK Condominium 99 years February 28, 2018 1,507 2,537,000 - 1,684 Uncompleted New SaleQUEENS PEAK Condominium 99 years February 28, 2018 1,507 2,528,000 - 1,678 Uncompleted New SaleQUEENS PEAK Condominium 99 years February 28, 2018 1,507 2,520,000 - 1,672 Uncompleted New SaleQUEENS PEAK Condominium 99 years February 28, 2018 1,507 2,493,000 - 1,654 Uncompleted New SaleQUEENS PEAK Condominium 99 years March 01, 2018 840 1,603,000 - 1,909 Uncompleted New SaleQUEENS PEAK Condominium 99 years March 01, 2018 850 1,581,000 - 1,859 Uncompleted New SaleDistrict 4 CARIBBEAN AT KEPPEL BAY Condominium 99 years February 28, 2018 1,356 2,150,000 - 1,585 2004 ResaleREFLECTIONS AT KEPPEL BAY Condominium 99 years March 05, 2018 1,087 1,950,000 - 1,794 2011 ResaleREFLECTIONS AT KEPPEL BAY Condominium 99 years March 06, 2018 980 1,690,000 - 1,725 2011 ResaleTHE AZURE Condominium 99 years March 05, 2018 3,165 4,900,000 - 1,548 2008 ResaleTHE FORESTA @ MOUNT FABER Condominium Freehold March 02, 2018 431 868,000 - 2,016 2014 ResaleDistrict 5 HUNDRED TREES Condominium 956 years February 27, 2018 1,475 1,800,000 - 1,221 2013 ResaleONE-NORTH RESIDENCES Apartment 99 years February 27, 2018 980 1,438,000 - 1,468 2009 ResalePARC RIVIERA Condominium 99 years February 28, 2018 1,152 1,323,000 - 1,149 Uncompleted New SaleTHE CLEMENT CANOPY Apartment 99 years February 28, 2018 990 1,453,000 - 1,467 Uncompleted New SaleTHE ROCHESTER Apartment 99 years March 05, 2018 1,356 1,725,000 - 1,272 2011 ResaleTHE TRILINQ Condominium 99 years February 27, 2018 1,346 1,689,000 - 1,255 2017 New SaleTHE TRILINQ Condominium 99 years February 27, 2018 1,346 1,632,000 - 1,213 2017 New Sale

LAND AREA/ NETT UNIT FLOOR AREA TRANSACTED PRICE PRICE COMPLETION TYPE OFPROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($) ($ PSF) DATE SALE

THE TRILINQ Condominium 99 years February 28, 2018 1,109 1,476,000 - 1,331 2017 New SaleTHE TRILINQ Condominium 99 years March 01, 2018 1,346 1,763,000 - 1,310 2017 New SaleTHE TRILINQ Condominium 99 years March 01, 2018 1,356 1,615,000 - 1,191 2017 New SaleTHE TRILINQ Condominium 99 years March 02, 2018 1,109 1,489,000 - 1,343 2017 New SaleVARSITY PARK CONDOMINIUM Condominium 99 years February 28, 2018 1,098 1,250,000 - 1,139 2008 ResaleDistrict 7 DUO RESIDENCES Apartment 99 years March 02, 2018 1,927 4,238,000 - 2,200 2017 New SaleDistrict 8 FORTE SUITES Apartment Freehold March 01, 2018 678 1,355,607 - 1,999 2016 New SaleKENTISH LODGE Apartment 99 years March 02, 2018 1,141 1,168,000 - 1,024 1998 ResaleSUITES @ OWEN Apartment Freehold February 27, 2018 452 703,000 - 1,555 2009 ResaleDistrict 9 ALBA Apartment Freehold March 01, 2018 1,905 4,200,000 - 2,204 2015 ResaleCAIRNHILL RESIDENCES Apartment Freehold March 01, 2018 1,173 2,380,000 - 2,029 2009 ResaleMARTIN MODERN Condominium 99 years February 27, 2018 764 2,040,390 - 2,670 Uncompleted New SaleMARTIN MODERN Condominium 99 years February 27, 2018 764 2,020,788 - 2,644 Uncompleted New SaleMARTIN MODERN Condominium 99 years February 28, 2018 872 2,264,460 - 2,597 Uncompleted New SaleMARTIN MODERN Condominium 99 years March 03, 2018 764 2,122,520 - 2,777 Uncompleted New SaleNEW FUTURA Condominium Freehold February 27, 2018 1,830 6,379,600 - 3,486 2017 ResalePARC EMILY Condominium Freehold March 02, 2018 603 1,100,000 - 1,825 2008 ResaleSOPHIA HILLS Condominium 99 years March 03, 2018 1,130 2,430,000 - 2,150 Uncompleted New SaleST THOMAS SUITES Condominium Freehold February 27, 2018 2,605 5,420,000 - 2,081 2010 ResaleTHE INSPIRA Condominium Freehold March 06, 2018 947 1,820,000 - 1,921 2009 ResaleTHE LIGHT @ CAIRNHILL Condominium Freehold March 02, 2018 1,518 3,280,000 - 2,161 2004 ResaleTHE VERMONT ON CAIRNHILL Apartment Freehold February 27, 2018 1,711 3,828,000 - 2,237 2013 ResaleURBAN SUITES Condominium Freehold February 27, 2018 1,572 4,323,000 - 2,751 2013 ResaleVIVACE Apartment 999 years March 06, 2018 570 1,130,000 - 1,981 2012 ResaleDistrict 10 ASTRIDVILLE Condominium Freehold February 28, 2018 2,217 3,200,000 - 1,443 1985 ResaleCUSCADEN RESIDENCES Condominium Freehold March 02, 2018 1,485 3,118,800 - 2,100 2002 ResaleD’LEEDON Condominium 99 years March 01, 2018 1,798 2,750,000 - 1,530 2014 ResaleFONTANA HEIGHTS Condominium Freehold March 01, 2018 4,607 6,480,000 - 1,407 1985 ResaleGARDEN APARTMENTS Apartment Freehold February 28, 2018 2,476 4,180,000 - 1,688 1984 ResaleGLENTREES Condominium 999 years March 01, 2018 3,412 3,900,000 - 1,143 2005 ResaleGRAMERCY PARK Condominium Freehold February 27, 2018 1,981 6,244,290 - 3,153 2016 ResaleGRAMERCY PARK Condominium Freehold February 28, 2018 7,287 24,500,000 - 3,362 2016 ResaleJADE MANSION Condominium Freehold March 05, 2018 2,723 2,900,000 - 1,065 1982 ResaleLOTUS AT JERVOIS Apartment Freehold March 05, 2018 19,741 46,300,000 - 2,345 Unknown ResaleMUTIARA VIEW Apartment Freehold March 01, 2018 1,302 2,158,000 - 1,657 2000 ResaleHOLLAND GROVE ROAD Terrace 999 years March 02, 2018 2,422 3,900,000 - 1,611 1987 ResaleNATHAN RESIDENCES Apartment Freehold February 28, 2018 592 1,100,000 - 1,858 2013 ResaleONE JERVOIS Condominium Freehold March 02, 2018 990 1,850,000 - 1,868 2009 ResaleORCHARD BEL AIR Condominium 99 years February 27, 2018 3,229 4,100,000 - 1,270 1984 ResaleSHAMROCK PARK Detached Freehold March 02, 2018 4,338 7,700,000 - 1,773 2008 ResaleTANGLIN PARK Condominium Freehold February 28, 2018 1,765 3,400,000 - 1,926 1988 ResaleTANGLIN REGENCY Condominium 99 years March 01, 2018 883 1,230,000 - 1,394 1998 ResaleTHE ASANA Apartment Freehold March 02, 2018 678 1,714,864 - 2,529 2017 New SaleTHE MONTANA Apartment Freehold February 27, 2018 1,109 1,680,000 - 1,515 2002 ResaleTHE MONTANA Apartment Freehold March 01, 2018 1,206 2,080,000 - 1,725 2002 ResaleTHE NASSIM Condominium Freehold February 28, 2018 4,564 14,800,000 - 3,243 2015 ResaleTHE TENERIFFE Terrace 99 years February 28, 2018 2,831 2,470,000 - 873 2003 ResaleTHREE BALMORAL Apartment Freehold March 01, 2018 614 1,507,000 - 2,456 2016 ResaleVENTUNO BALMORAL Apartment Freehold March 02, 2018 1,313 2,200,000 - 1,675 2008 ResaleDistrict 11 368 THOMSON Condominium Freehold March 05, 2018 1,302 1,950,000 - 1,497 2014 ResaleEVELYN MANSIONS Apartment Freehold March 05, 2018 893 1,338,000 - 1,498 1997 ResaleMOULMEIN COURT Apartment Freehold February 27, 2018 1,647 1,801,000 - 1,094 Unknown ResaleSHREWSBURY ROAD Semi-Detached Freehold March 01, 2018 2,734 3,800,000 - 1,388 1993 ResaleJALAN NOVENA SELATAN Semi-Detached Freehold March 02, 2018 2,454 4,850,000 - 1,976 2002 ResaleRESIDENCES @ EVELYN Condominium Freehold March 01, 2018 1,109 2,070,000 - 1,867 2007 ResaleSUFFOLK PREMIER Apartment Freehold February 27, 2018 1,076 1,460,000 - 1,356 2007 ResaleTHE ARCADIA Condominium 99 years March 02, 2018 3,735 3,500,000 - 937 1983 ResaleTHE AXIS Apartment Freehold March 02, 2018 818 1,120,000 - 1,369 2009 ResaleTHE LINCOLN RESIDENCES Condominium Freehold March 05, 2018 1,841 3,380,000 - 1,836 2011 ResaleTHE TREVOSE Condominium 99 years February 27, 2018 2,497 2,070,000 - 829 2001 ResaleTHOMSON 800 Condominium Freehold February 28, 2018 5,791 5,330,888 - 921 1999 ResaleDistrict 12 CITY SUITES Apartment Freehold February 28, 2018 452 822,888 - 1,820 2017 New SaleCITY SUITES Apartment Freehold March 01, 2018 527 891,200 - 1,690 2017 New SaleDOMUS Apartment Freehold February 28, 2018 1,367 1,838,000 - 1,345 2012 ResaleGEM RESIDENCES Condominium 99 years February 27, 2018 1,055 1,559,000 - 1,478 Uncompleted New Sale


| BY BONG XIN YING |

Alba is a 50-unit, luxury boutique

development by Far East Organi-

zation. Designed by US-based ar-

chitectural firm Arquitectonica, its

units are Y-shaped to maximise

space and views of the surrounding Cairn-

hill district. Each unit comes with private

lift access. Completed in 2015, the project

is more than 80% sold so far.

The latest transaction at the freehold Alba

was for a 1,905 sq ft, three-bedroom unit on

the second level. The unit changed hands

for $4.2 million ($2,204 psf) on March 1,

according to a caveat lodged then. The pre-

vious owner had paid $3.85 million ($2,021

psf) for the unit when the project was first

launched in October 2009.

This marks the first transaction in Alba

this year. The last transaction was in Au-

gust last year when a 2,110 sq ft, four-bed-

room unit on the 14th floor was sold for

$6.3 million ($2,986 psf). This is likely to

be a unit sold by the developer as there

was no prior caveat lodged.

The prime Cairnhill area is starting to see

transactions pick up. Most property consult-

ants reckon it is because of the successful

collective sale of Cairnhill Mansions on its

fifth attempt. It was sold to Singapore-listed

construction and property group Low Keng

Huat for $362 million ($2,311 psf) on Feb

14, in a deal brokered by CBRE.

Galven Tan, CBRE director of capital

markets, reckons that the new development

on the site of Cairnhill Mansions could be

launched at a price of at least $3,500 psf. “It

has also spurred both developer and inves-

tor interest in the prime districts,” he says.

Located on Cairnhill Circle, the 97-unit

Cairnhill Residences is the most tranquil

part of the area. The freehold condominium

was developed by Allgreen Properties and

completed in 2009. On March 1, a 1,173 sq

ft, three-bedroom unit changed hands for

$2.38 million ($2,029 psf). The unit was

purchased by the previous owner 11 years

ago for $2.02 million ($1,720 psf), accord-

ing to a caveat lodged in December 2006.

The recent transaction in early March

is the first this year at Cairnhill Residenc-

es. The last transaction was in September

last year, when a 1,173 sq ft, three-bed-

room unit on the 11th floor fetched $2.62

million ($2,231 psf).

Interest in The Light @ Cairnhill has

also picked up since late last year. In early

March, a 1,518 sq ft, three-bedroom unit

on the 13th floor changed hands for $3.28

million ($2,161 psf). That same unit went

for $2.95 million ($1,944 psf) in 2012.

Another unit at The Light @ Cairnhill

was sold for $3.88 million ($1,928 psf) in

February. The 2,013 sq ft, four-bedroom unit

went for $3.76 million ($1,869 psf) in April

2012. The 118-unit The Light @ Cairnhill

was developed by Wing Tai Holdings and

completed in 2004.

Renewed interest seen at Cairnhill area

DONE DEALS

A three-bedrom unit at Alba was recently sold for $4.2 million


E


Residential transactions with contracts dated Feb 27 to March 6


GEM RESIDENCES Condominium 99 years March 01, 2018 1,313 2,039,000 - 1,553 Uncompleted New SaleGEM RESIDENCES Condominium 99 years March 03, 2018 1,249 1,824,570 - 1,461 Uncompleted New SaleGEM RESIDENCES Condominium 99 years March 04, 2018 775 1,392,000 - 1,796 Uncompleted New SaleGEM RESIDENCES Condominium 99 years March 04, 2018 1,249 1,855,000 - 1,486 Uncompleted New SaleKALLANG RIVERSIDE Apartment Freehold March 03, 2018 517 1,309,903 - 2,535 Uncompleted New SaleKALLANG RIVERSIDE Apartment Freehold March 03, 2018 1,033 2,218,000 - 2,146 Uncompleted New SaleNOVA 48 Apartment Freehold March 05, 2018 2,002 2,170,000 - 1,084 2011 ResaleONE ST MICHAEL’S Condominium Freehold March 06, 2018 1,249 1,580,000 - 1,265 2009 ResaleRIVIERA 38 Apartment 999 years March 02, 2018 549 788,000 - 1,435 2014 ResaleSKYSUITES17 Apartment Freehold March 01, 2018 614 995,000 - 1,622 2014 ResaleTHE CENTRIO Apartment Freehold February 28, 2018 2,971 2,880,000 - 969 2009 ResaleTREVISTA Condominium 99 years February 27, 2018 1,130 1,530,000 - 1,354 2011 ResaleTREVISTA Condominium 99 years February 27, 2018 1,152 1,510,000 - 1,311 2011 ResaleVISTA RESIDENCES Condominium Freehold March 02, 2018 646 975,000 - 1,510 2013 ResaleDistrict 13 DAISY PARK Terrace Freehold March 06, 2018 2,691 2,880,000 - 1,070 1974 ResaleJALAN MELOR Terrace Freehold February 27, 2018 2,400 2,180,000 - 909 1961 ResaleNIN RESIDENCE Apartment 99 years March 02, 2018 893 1,196,000 - 1,339 2014 ResaleTHE POIZ RESIDENCES Apartment 99 years February 27, 2018 1,625 1,697,000 - 1,044 Uncompleted New SaleDistrict 14 ATRIUM RESIDENCES Apartment Freehold March 02, 2018 969 960,000 - 991 2008 ResaleBALMY COURT Apartment Freehold February 28, 2018 1,044 886,000 - 849 1998 ResaleCASA SARINA Condominium Freehold February 27, 2018 990 1,068,000 - 1,078 1998 ResaleCASSIA VIEW Apartment Freehold March 02, 2018 1,206 1,350,000 - 1,120 1998 ResaleCENTRAL MEADOWS Apartment Freehold March 02, 2018 969 1,000,000 - 1,032 2002 ResaleLE REGAL Apartment Freehold February 28, 2018 420 480,000 - 1,143 2015 ResaleGUILLEMARD ROAD Terrace Freehold March 01, 2018 1,658 2,200,000 - 1,331 1975 ResaleNICOLE GREEN Apartment Freehold March 02, 2018 1,270 1,384,488 - 1,090 2002 ResalePARK 1 SUITES Apartment Freehold March 01, 2018 635 995,000 - 1,567 2017 New SalePARK 1 SUITES Apartment Freehold March 01, 2018 1,206 1,620,000 - 1,344 2017 New SaleREZI 35 Apartment Freehold February 27, 2018 926 1,410,000 - 1,523 Uncompleted New SaleSIMS EDGE Apartment Freehold March 02, 2018 409 642,888 - 1,572 2014 ResaleSIMS URBAN OASIS Condominium 99 years March 03, 2018 1,324 1,820,900 - 1,375 2017 New SaleTHE NAVIAN Apartment Freehold March 01, 2018 926 1,528,000 - 1,651 Uncompleted New SaleTHE TRUMPS Condominium 99 years February 27, 2018 1,109 960,000 - 866 2005 ResaleDistrict 15 AURALIS Apartment Freehold March 05, 2018 463 728,000 - 1,573 2013 ResaleCASUARINA COVE Condominium 99 years March 05, 2018 1,625 2,000,000 - 1,230 1996 ResaleCHELSEA LODGE Apartment Freehold March 01, 2018 1,227 1,360,000 - 1,108 2000 ResaleENVIO Apartment Freehold March 02, 2018 732 880,000 - 1,202 2010 ResaleFIRST POINT SUITES Apartment Freehold March 02, 2018 1,012 1,140,000 - 1,127 2013 ResaleFLAMINGO VALLEY Condominium Freehold March 05, 2018 1,206 1,768,000 - 1,467 2014 ResaleLAVERNE’S LOFT Apartment Freehold March 01, 2018 431 590,000 - 1,370 2013 ResaleMODA Apartment Freehold March 01, 2018 980 1,500,000 - 1,531 2014 ResaleCEYLON ROAD Terrace Freehold February 28, 2018 1,755 3,900,000 - 2,224 1976 ResaleONAN ROAD Terrace Freehold February 28, 2018 1,841 3,480,000 - 1,896 1952 ResaleLORONG 104 CHANGI Terrace Freehold February 28, 2018 2,756 2,188,000 - 795 Unknown ResaleMEYER ROAD Semi-Detached Freehold March 02, 2018 4,047 6,500,000 - 1,605 1992 ResaleLORONG SIGLAP Semi-Detached Freehold March 02, 2018 2,002 3,150,000 - 1,574 Unknown ResaleJOO CHIAT PLACE Semi-Detached Freehold March 05, 2018 3,434 3,888,888 - 1,132 1981 ResaleJOO CHIAT WALK Terrace Freehold March 06, 2018 2,971 3,500,000 - 1,179 1969 ResaleNEPTUNE COURT Apartment 99 years March 02, 2018 1,270 1,095,000 - 862 1975 ResaleOPERA ESTATE Terrace Freehold March 05, 2018 1,604 3,250,000 - 2,032 Unknown ResalePALMERA RESIDENCE Apartment Freehold March 06, 2018 1,292 1,496,000 - 1,158 2010 ResalePARK EAST Condominium Freehold March 05, 2018 1,292 1,670,000 - 1,293 1994 ResaleSANDALWOOD Terrace Freehold February 28, 2018 3,423 3,000,000 - 876 2005 ResaleSEASIDE RESIDENCES Apartment 99 years February 27, 2018 506 958,000 - 1,894 Uncompleted New SaleSEASIDE RESIDENCES Apartment 99 years February 27, 2018 1,259 2,038,000 - 1,618 Uncompleted New SaleSEASIDE RESIDENCES Apartment 99 years March 03, 2018 592 1,043,000 - 1,762 Uncompleted New SaleSEASIDE RESIDENCES Apartment 99 years March 04, 2018 592 984,000 - 1,662 Uncompleted New SaleST PATRICK’S LOFT Apartment Freehold February 27, 2018 1,281 1,600,000 - 1,249 2008 ResaleTHE BEACON EDGE Apartment Freehold March 02, 2018 1,539 1,700,000 - 1,104 2009 ResaleTHE BELVEDERE Condominium Freehold March 02, 2018 1,367 2,480,000 - 1,814 2007 ResaleTHE CARPMAELINA Condominium Freehold February 27, 2018 1,195 1,388,000 - 1,162 2005 ResaleTHE COTZ Apartment Freehold March 05, 2018 398 520,000 - 1,306 2010 ResaleTHE ESTA Condominium Freehold March 05, 2018 1,173 1,800,000 - 1,534 2008 ResaleTHE SHORE RESIDENCES Condominium 103 years March 02, 2018 592 978,000 - 1,652 2014 ResaleTHE SHORE RESIDENCES Condominium 103 years March 02, 2018 1,141 1,700,000 - 1,490 2014 ResaleTHE SOVEREIGN Condominium Freehold March 05, 2018 2,637 5,280,000 - 2,002 1993 ResaleDistrict 16 BAYWATER Condominium 99 years March 01, 2018 1,292 1,238,000 - 958 2006 ResaleBEDOK RESIDENCES Apartment 99 years February 28, 2018 3,003 3,024,000 - 1,007 2015 ResaleCASA MERAH Apartment 99 years March 05, 2018 1,249 1,315,000 - 1,053 2009 ResaleEAST MEADOWS Condominium 99 years February 28, 2018 1,195 1,208,000 - 1,011 2001 ResaleGRANDEUR PARK RESIDENCES Condominium 99 years February 27, 2018 667 1,095,112 - 1,641 Uncompleted New SaleGRANDEUR PARK RESIDENCES Condominium 99 years February 28, 2018 667 1,071,112 - 1,605 Uncompleted New SaleGRANDEUR PARK RESIDENCES Condominium 99 years March 02, 2018 667 1,066,112 - 1,597 Uncompleted New SaleGRANDEUR PARK RESIDENCES Condominium 99 years March 02, 2018 667 996,000 - 1,492 Uncompleted New SaleGRANDEUR PARK RESIDENCES Condominium 99 years March 03, 2018 624 1,090,112 - 1,746 Uncompleted New SaleGRANDEUR PARK RESIDENCES Condominium 99 years March 04, 2018 893 1,309,112 - 1,465 Uncompleted New SaleGRANDEUR PARK RESIDENCES Condominium 99 years March 04, 2018 893 1,304,112 - 1,460 Uncompleted New SaleGRANDEUR PARK RESIDENCES Condominium 99 years March 04, 2018 893 1,299,112 - 1,454 Uncompleted New SaleGUAN SOON VILLAS Terrace Freehold March 06, 2018 1,798 2,700,000 - 1,498 1991 ResaleSEA BREEZE ROAD Terrace Freehold February 28, 2018 2,153 2,900,000 - 1,350 2002 ResaleEASTWOOD TERRACE Terrace 99 years March 01, 2018 1,938 2,000,000 - 1,033 1997 ResaleEASTWOOD WALK Terrace 99 years March 02, 2018 1,938 2,108,000 - 1,089 1997 ResaleBEDOK TERRACE Terrace 999 years March 05, 2018 2,540 2,650,000 - 1,045 Unknown ResaleOPTIMA @ TANAH MERAH Condominium 99 years March 05, 2018 1,421 1,626,888 - 1,145 2012 ResalePARBURY HILL CONDOMINIUM Condominium Freehold March 05, 2018 1,184 1,300,000 - 1,098 1997 ResaleTHE BAYSHORE Condominium 99 years March 05, 2018 1,227 1,050,000 - 856 1997 ResaleWATERFRONT ISLE Condominium 99 years February 27, 2018 592 710,000 - 1,199 2015 ResaleDistrict 17 AZALEA PARK CONDOMINIUM Condominium 999 years March 05, 2018 1,679 1,350,000 - 804 1996 ResaleDAHLIA PARK CONDOMINIUM Condominium Freehold March 02, 2018 1,270 1,050,000 - 827 2003 ResaleESTELLA GARDENS Condominium Freehold February 27, 2018 1,141 888,000 - 778 1999 ResaleFERRARIA PARK CONDOMINIUM Condominium Freehold February 27, 2018 1,216 1,115,000 - 917 2009 ResaleHEDGES PARK CONDOMINIUM Condominium 99 years February 27, 2018 1,001 868,000 - 867 2015 ResaleHEDGES PARK CONDOMINIUM Condominium 99 years March 01, 2018 484 535,000 - 1,105 2015 ResalePARC OLYMPIA Condominium 99 years March 02, 2018 1,292 1,035,000 - 801 2015 ResaleTHE INFLORA Condominium 99 years February 28, 2018 463 535,000 - 1,156 2016 ResaleDistrict 18 DOUBLE BAY RESIDENCES Condominium 99 years March 05, 2018 936 968,000 - 1,034 2012 ResaleEASTPOINT GREEN Condominium 99 years February 27, 2018 958 777,888 - 812 1999 ResaleQ BAY RESIDENCES Condominium 99 years February 28, 2018 517 670,000 - 1,297 2016 ResaleQ BAY RESIDENCES Condominium 99 years March 05, 2018 829 920,000 - 1,110 2016 ResaleSAVANNAH CONDOPARK Condominium 99 years March 01, 2018 1,453 1,255,000 - 864 2005 ResaleSAVANNAH CONDOPARK Condominium 99 years March 02, 2018 1,227 1,050,000 - 856 2005 ResaleSIMEI GREEN CONDOMINIUM EC 99 years March 01, 2018 1,399 890,000 - 636 1999 ResaleTHE ALPS RESIDENCES Condominium 99 years February 28, 2018 936 1,082,000 - 1,155 Uncompleted New SaleTHE ALPS RESIDENCES Condominium 99 years February 28, 2018 936 1,068,000 - 1,140 Uncompleted New SaleTHE ALPS RESIDENCES Condominium 99 years February 28, 2018 936 1,053,000 - 1,124 Uncompleted New SaleTHE ALPS RESIDENCES Condominium 99 years February 28, 2018 936 1,050,000 - 1,121 Uncompleted New SaleTHE PALETTE Condominium 99 years February 27, 2018 753 850,000 - 1,128 2015 Resale


District 19 BARTLEY RESIDENCES Apartment 99 years February 28, 2018 807 1,180,000 - 1,462 2015 ResaleESPARINA RESIDENCES EC 99 years March 06, 2018 1,066 1,025,000 - 962 2013 ResaleEVERGREEN PARK Apartment 99 years February 27, 2018 1,087 780,000 - 717 1999 ResaleJADE VINE GARDENS Terrace 999 years March 01, 2018 1,787 2,380,000 - 1,335 Unknown ResaleKOVAN MELODY Condominium 99 years February 27, 2018 1,216 1,375,000 - 1,130 2006 ResaleSUNSHINE TERRACE Detached Freehold February 27, 2018 5,597 5,330,000 - 952 Unknown ResaleOASIS GARDEN Condominium Freehold March 01, 2018 1,216 1,390,000 - 1,143 2009 ResalePARK RESIDENCES KOVAN Apartment Freehold February 28, 2018 323 535,000 - 1,657 2014 ResalePRESTO@UPPER SERANGOON Apartment Freehold February 28, 2018 420 620,000 - 1,477 2016 ResaleSERANGOON GARDEN ESTATE Terrace 999 years March 05, 2018 1,841 2,180,000 - 1,185 Unknown ResaleTHE COURTYARD Apartment Freehold February 27, 2018 1,227 1,250,000 - 1,019 1995 ResaleTHE MINTON Condominium 99 years February 27, 2018 1,087 1,138,000 - 1,047 2013 ResaleTHE MINTON Condominium 99 years March 02, 2018 980 1,000,000 - 1,021 2013 ResaleTHE MINTON Condominium 99 years March 02, 2018 980 980,000 - 1,000 2013 ResaleTHE RIVERVALE EC 99 years March 01, 2018 1,249 920,000 - 737 2000 ResaleTHE SPRINGBLOOM Condominium 99 years March 05, 2018 1,302 1,415,000 - 1,086 1999 ResaleDistrict 20 BISHAN LOFT EC 99 years February 27, 2018 1,399 1,455,000 - 1,040 2003 ResaleFAR HORIZON GARDENS Condominium 99 years March 05, 2018 1,195 990,000 - 829 1986 ResaleGRANDEUR 8 Condominium 99 years February 27, 2018 1,421 1,350,000 - 950 2005 ResaleTHE GARDENS AT BISHAN Condominium 99 years March 02, 2018 1,206 1,300,000 - 1,078 2004 ResaleDistrict 21 BEAUTY WORLD CENTRE Apartment 99 years February 27, 2018 1,970 1,550,000 - 787 Unknown ResaleBEAUTY WORLD CENTRE Apartment 99 years March 02, 2018 1,873 1,500,000 - 801 Unknown ResaleBUKIT REGENCY Condominium Freehold March 05, 2018 1,432 1,480,000 - 1,034 1995 ResaleCLEMENTI PARK Condominium Freehold February 28, 2018 1,625 1,706,617 - 1,050 1986 ResaleCLEMENTI PARK Condominium Freehold March 05, 2018 1,959 2,100,000 - 1,072 1986 ResaleHUME PARK I Condominium Freehold February 27, 2018 1,346 1,280,000 - 951 1995 ResaleKISMIS RESIDENCES Terrace Freehold March 01, 2018 2,164 5,000,000 - 2,311 Uncompleted New SaleMAPLE WOODS Condominium Freehold February 27, 2018 1,324 2,300,000 - 1,737 1997 ResaleENG KONG PLACE Terrace Freehold February 27, 2018 2,734 3,500,000 - 1,283 Unknown ResaleYARWOOD AVENUE Detached 999 years March 01, 2018 16,146 19,400,000 - 1,201 2001 ResaleSHERWOOD TOWER Apartment 99 years February 27, 2018 1,539 968,000 - 629 1980 ResaleSHERWOOD TOWER Apartment 99 years March 06, 2018 829 662,800 - 800 1980 ResaleTHE BEVERLY Apartment Freehold March 02, 2018 1,496 1,988,000 - 1,329 2012 ResaleTHE BLOSSOMVALE Condominium 999 years March 05, 2018 1,335 1,900,000 - 1,424 1998 ResaleDistrict 22 CASPIAN Condominium 99 years February 27, 2018 1,206 1,300,000 - 1,078 2012 ResaleJ GATEWAY Condominium 99 years February 28, 2018 603 1,000,000 - 1,659 2016 ResaleLAKEVILLE Condominium 99 years March 05, 2018 635 880,000 - 1,386 2017 ResaleTHE CENTRIS Apartment 99 years March 05, 2018 2,045 2,100,000 - 1,027 2009 ResaleTHE MAYFAIR Condominium 99 years March 01, 2018 893 830,000 - 929 2000 ResaleWESTWOOD RESIDENCES EC 99 years February 27, 2018 1,475 1,173,600 - 796 2017 New SaleDistrict 23 CHANTILLY RISE Condominium Freehold March 02, 2018 1,270 1,200,000 - 945 1998 ResaleCHESTERVALE EC 99 years March 02, 2018 1,528 875,000 - 572 1999 ResaleCHESTERVALE EC 99 years March 06, 2018 1,399 862,000 - 616 1999 ResaleFORESQUE RESIDENCES Condominium 99 years March 02, 2018 732 870,000 - 1,189 2014 ResaleHAZEL PARK CONDOMINIUM Condominium 999 years March 05, 2018 1,378 1,420,000 - 1,031 2000 ResaleHILLINGTON GREEN Condominium 999 years March 01, 2018 1,927 1,850,000 - 960 2002 ResaleHILLINGTON GREEN Condominium 999 years March 05, 2018 2,465 2,225,000 - 903 2002 ResaleHILLSTA Terrace 99 years March 01, 2018 3,369 2,582,670 - 767 2016 ResaleMERA GARDENS Terrace 99 years March 01, 2018 1,615 1,850,000 - 1,147 1998 ResaleTHE AMSTON Apartment 999 years March 05, 2018 1,313 1,200,000 - 914 1998 ResaleTHE WARREN Condominium 99 years February 27, 2018 1,238 1,000,000 - 808 2004 ResaleTREE HOUSE Condominium 99 years March 06, 2018 1,550 1,520,000 - 981 2013 ResaleDistrict 25 CASABLANCA Condominium 99 years March 01, 2018 1,109 874,000 - 788 2005 ResaleBEECHWOOD GROVE Detached 99 years February 28, 2018 7,621 4,000,000 - 525 1999 ResaleNORTHWAVE EC 99 years February 28, 2018 1,119 911,000 - 814 Uncompleted New SaleNORTHWAVE EC 99 years February 28, 2018 990 770,000 - 778 Uncompleted New SaleNORTHWAVE EC 99 years February 28, 2018 990 745,000 - 752 Uncompleted New SaleNORTHWAVE EC 99 years February 28, 2018 990 723,500 - 731 Uncompleted New SaleNORTHWAVE EC 99 years March 04, 2018 1,119 853,700 - 763 Uncompleted New SaleWOODGROVE CONDOMINIUM Condominium 99 years March 01, 2018 1,518 1,100,000 - 725 1999 ResaleDistrict 26 SEASONS PARK Condominium 99 years March 01, 2018 1,109 943,000 - 851 1997 ResaleDistrict 27 PARC LIFE EC 99 years February 27, 2018 1,109 985,000 - 888 Uncompleted New SalePARC LIFE EC 99 years February 27, 2018 1,066 905,000 - 849 Uncompleted New SalePARC LIFE EC 99 years February 27, 2018 1,066 898,000 - 843 Uncompleted New SalePARC LIFE EC 99 years February 27, 2018 1,066 863,000 - 810 Uncompleted New SaleSIGNATURE AT YISHUN EC 99 years February 27, 2018 1,184 982,500 - 830 2017 New SaleSIGNATURE AT YISHUN EC 99 years February 28, 2018 1,098 904,000 - 823 2017 New SaleSIGNATURE AT YISHUN EC 99 years February 28, 2018 1,184 963,000 - 813 2017 New SaleSIGNATURE AT YISHUN EC 99 years February 28, 2018 1,098 890,000 - 811 2017 New SaleSIGNATURE AT YISHUN EC 99 years February 28, 2018 1,098 890,000 - 811 2017 New SaleSIGNATURE AT YISHUN EC 99 years February 28, 2018 1,098 888,500 - 809 2017 New SaleSIGNATURE AT YISHUN EC 99 years February 28, 2018 1,184 954,500 - 806 2017 New SaleSIGNATURE AT YISHUN EC 99 years February 28, 2018 1,184 927,000 - 783 2017 New SaleSIGNATURE AT YISHUN EC 99 years February 28, 2018 1,098 841,500 - 766 2017 New SaleSIGNATURE AT YISHUN EC 99 years February 28, 2018 1,098 832,500 - 758 2017 New SaleSIGNATURE AT YISHUN EC 99 years February 28, 2018 1,098 832,000 - 758 2017 New SaleSIGNATURE AT YISHUN EC 99 years March 03, 2018 1,184 1,002,500 - 847 2017 New SaleSIGNATURE AT YISHUN EC 99 years March 03, 2018 1,098 839,000 - 764 2017 New SaleTHE CRITERION EC 99 years March 03, 2018 1,281 1,015,200 - 793 2018 New SaleTHE NAUTICAL Condominium 99 years February 27, 2018 786 818,000 - 1,041 2015 ResaleDistrict 28 BELGRAVIA VILLAS Semi-Detached Freehold March 02, 2018 3,961 3,570,000 - 901 Uncompleted New SaleHIGH PARK RESIDENCES Apartment 99 years February 27, 2018 1,109 1,250,000 - 1,127 Uncompleted Sub SaleNIM COLLECTION Terrace 99 years March 03, 2018 1,615 2,650,000 - 1,641 Uncompleted New SaleNIM COLLECTION Terrace 99 years March 03, 2018 1,615 2,650,000 - 1,641 Uncompleted New SaleNIM COLLECTION Terrace 99 years March 03, 2018 1,615 2,650,000 - 1,641 Uncompleted New SaleNIM COLLECTION Terrace 99 years March 03, 2018 1,615 2,650,000 - 1,641 Uncompleted New SaleNIM COLLECTION Terrace 99 years March 03, 2018 1,615 2,600,000 - 1,610 Uncompleted New SaleNIM COLLECTION Terrace 99 years March 04, 2018 1,615 2,660,000 - 1,647 Uncompleted New SalePARC BOTANNIA Condominium 99 years March 01, 2018 506 640,000 - 1,265 Uncompleted New SalePARC BOTANNIA Condominium 99 years March 01, 2018 506 637,000 - 1,259 Uncompleted New SalePARC BOTANNIA Condominium 99 years March 01, 2018 506 627,000 - 1,239 Uncompleted New SalePARC BOTANNIA Condominium 99 years March 02, 2018 431 614,000 - 1,426 Uncompleted New SalePARC BOTANNIA Condominium 99 years March 02, 2018 969 1,329,000 - 1,372 Uncompleted New SalePARC BOTANNIA Condominium 99 years March 02, 2018 667 871,112 - 1,305 Uncompleted New SalePARC BOTANNIA Condominium 99 years March 02, 2018 786 1,011,000 - 1,287 Uncompleted New SalePARC BOTANNIA Condominium 99 years March 02, 2018 861 1,061,112 - 1,232 Uncompleted New SalePARC BOTANNIA Condominium 99 years March 03, 2018 786 1,007,000 - 1,282 Uncompleted New SalePARC BOTANNIA Condominium 99 years March 04, 2018 667 921,000 - 1,380 Uncompleted New SalePARC BOTANNIA Condominium 99 years March 04, 2018 506 646,000 - 1,277 Uncompleted New SaleSELETAR HILLS ESTATE Semi-Detached 999 years March 01, 2018 3,434 2,980,000 - 867 Unknown ResaleSELETAR HILLS ESTATE Semi-Detached 999 years March 06, 2018 3,498 3,680,000 - 1,053 Unknown ResaleSUNRISE GARDENS Condominium 99 years February 27, 2018 1,292 930,000 - 720 1998 ResaleSUNRISE GARDENS Condominium 99 years February 28, 2018 818 675,000 - 825 1998 Resale

DONE DEALS

DISCLAIMER:Source: URA Realis. Updated March 13, 2018. The Edge Property 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.EC stands for executive condominium

GAINS AND LOSSES


Four-bedroom unit at Glentrees sold for $2.3 mil profit

E

Top 10 gains and losses from Feb 27 to March 6

URA,

EDG

EPRO

P

Most profi table deals PROJECT DISTRICT AREA (SQ FT) SOLD ON (2018) SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) PROFIT ($) PROFIT (%) ANNUALISED PROFIT (%) HOLDING PERIOD (YEARS)

1 Glentrees 10 3,412 March 1 1,143 June 17, 2005 466 2,308,800 145 7 12.7

2 Garden Apartment 10 2,476 Feb 28 1,688 Aug 1, 1999 828 2,130,000 104 4 18.6

3 Astridville 10 2,217 Feb 28 1,443 April 1, 2002 541 2,000,000 167 6 15.9

4 Hillington Green 23 2,465 March 5 903 April 14, 2009 446 1,125,000 102 8 8.9

5 Jade Mansion 10 2,723 March 5 1,065 Oct 12, 2000 666 1,087,000 60 3 17.4

6 Clementi Park 21 1,625 Feb 28 1,050 Feb 1, 1999 406 1,046,617 159 5 19.1

7 The Esta 15 1,173 March 5 1,534 Feb 7, 2006 672 1,011,050 128 7 12.1

8 Park East 15 1,292 March 5 1,293 Jan 26, 2007 550 960,000 135 8 11.1

9 The Centris 22 2,045 March 5 1,027 June 24, 2009 570 935,000 80 7 8.7

10 Casuarina Cove 15 1,625 March 5 1,230 Nov 28, 2003 677 900,000 82 4 14.3

PROJECT DISTRICT AREA (SQ FT) SOLD ON (2018) SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) LOSS ($) LOSS (%) ANNUALISED LOSS (%) HOLDING PERIOD (YEARS)

1 The Centrio 12 2,971 Feb 28 969 June 1, 2007 1,230 774,330 21 2 10.8

2 The Azure 4 3,165 March 5 1,548 March 23, 2011 1,738 600,000 11 2 7.0

3 First Point Suites 15 1,012 March 2 1,127 Oct 3, 2013 1,354 230,000 17 4 4.4

4 Cuscaden Residences 10 1,485 March 2 2,100 Sept 29, 2011 2,242 211,200 6 1 6.4

5 Reflections at Keppel Bay 4 1,087 March 5 1,794 April 16, 2010 1,957 177,600 8 1 7.9

6 Vivace 9 570 March 6 1,981 Feb 6, 2013 2,279 170,000 13 3 5.1

7 Thomson 800 11 5,791 Feb 28 921 Nov 21, 2011 950 169,112 3 0.5 6.3

8 Double Bay Residences 18 936 March 5 1,034 Oct 12, 2012 1,196 152,000 14 3 5.4

9 The Montana 10 1,206 March 1 1,725 Nov 21, 2013 1,832 128,840 6 1 4.3

10 The Beacon Edge 15 1,539 March 2 1,104 Aug 10, 2012 1,169 100,000 6 1 5.6

Note: Computed based on URA caveat data as at March 13 for private non-landed houses transacted between Feb 27 and March 6. The profit-and-loss computation excludes transaction costs such as stamp duties.

PROJECT DISTRICT AREA (SQ FT) SOLD ON (2018) SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) LOSS ($) LOSS (%) ANNUALISED LOSS (%) HOLDING PERIOD (YEARS)DISTRICT SOLD ON (2018) BOUGHT ON LOSS ($) ANNUALISED LOSS (%)

Non-profi table deals

| BY TIMOTHY TAY |

The sale of a four-bedroom unit at the

Glentrees condominium in District 10

was the most profitable transaction in the

week of Feb 27 to March 6. The 3,412 sq

ft unit was sold on March 1 for $3.9 mil-

lion ($1,143 psf). The unit was initially bought

for $1.59 million ($466 psf) in 2005. The seller

realised a $2.31 million (145%) profit on the sale

of the property, which translates into an annual

profit of 7% over a holding period of 12.7 years.

It is the most profitable transaction record-

ed at the condo in six years. In 2012, a 3,132

sq ft four-bedder was sold for a $2.31 million

(151%) profit. Profits at Glentrees have ranged

from $150,000 to $2.31 million across 13 trans-

actions in the past three years.

The 999-year leasehold Glentrees is located

on Mount Sinai Lane between Henry Park Prima-

ry School and Eunoia Junior College. The 176-

unit condo comprises eight five- storey blocks.

The unit mix includes 42 two- and three- storey

ground floor units and 42 loft units with roof

gardens. Units range from 1,346 to 3,671 sq

ft. The condo was developed by CapitaLand

and completed in 2005.

Also in District 10 is the 33-year-old, free-

hold condo Astridville, where the sale of a 2,217

sq ft maisonette was one of the most profita-

ble transactions during the week. It was pur-

chased in 2002 for $1.2 million (541 psf) and

changed hands for $3.2 million ($1,443 psf)

on Feb 28. The seller walked away with a $2

million (167%) profit, or an annual profit of

6% over a 16-year holding period. This is the

most profitable transaction recorded at the de-

velopment, based on the matching of caveats.

The 18-unit condo was completed in 1985

and comprises a mix of three-bedroom units

and maisonettes. Earlier this year, a 1,336 sq ft,

three-bedroom unit was sold for $3.25 million

($1,336 psf) on Feb 2. It was initially purchased

for $2.53 million ($1,040 psf) in 2007. The owner

made a $720,000 (28%) profit from the sale.

Another transaction that topped the list was

the sale of a 2,476 sq ft unit at Garden Apart-

ment on Orange Grove Road in District 10. It was

bought in 1999 for $2.05 million ($828 psf) and

was sold for $4.18 million ($1,688 psf) on Feb

28. The seller realised a $2.13 million (104%)

profit. The 20-unit Garden Apartment is a free-

hold condo that was completed in 1984 and is

across the road from Shangri-La Hotel.

Profits at Glentrees have ranged from $150,000 to $2.31 million across 13 transactions in the past three years

THE EDGE SINGAPORE

DEAL WATCH


Studio apartment at

Heritage East for sale

at $590,000The unit has a 3.8m floor-to-ceiling height and sits within a repurposed conservation shophouse, says PropNex Realty’s Lim


Recent rental contracts for 300 to 400 sq ft studio units at Heritage East

LEASE DATE MONTHLY RENT ($)

August 2017 1,400

July 2017 1,650

February 2017 1,500

MONTHLY RENT ($)

1,400

1,650

1,500

Recent transactions of units within conservation shophouse component of Heritage East

CONTRACT AREA PRICE PRICEDATE (SQ FT) ($) ($ PSF)

Nov 9, 2017 377 555,000 1,473Dec 29, 2015 355 548,000 1,543

| BY ANGELA TEO |

On the market is a 398 sq ft studio

apartment at the 65-unit, freehold

Heritage East on East Coast Road,

with an asking price of $590,000

($1,482 psf). “The second-floor

unit is a walk-up apartment in the conser-

vation shophouse component of Heritage

East,” says Niki Lim, marketing associate at

PropNex Realty, who is handling the sale. The

unit features a 3.8m floor-to-ceiling height

and double-glazed windows, notes Lim. Its

main door faces north-west, while the win-

dows face south-east.

According to Lim, the Singaporean own-

er is selling the unit as she is looking to up-

grade. “The owner spent a substantial amount

to renovate the unit in 2012. That involved

installing built-in carpentry and making the

windows more soundproof,” she says. This

would reduce the buyer’s expenditure on

renovations and furnishings, Lim reckons.

Located at the intersection of East Coast

Road and Telok Kurau Road, Heritage East

has a conservation shophouse component

that comprises a row of two-storey conser-

vation shophouses repurposed for residen-

tial use, as well as a contemporary housing

component — a separate five-storey block

with a contemporary façade.

The last time a unit of comparable size

on the same floor of Heritage East’s shop-

house component was sold was in October

2014, when a 355 sq ft unit fetched $550,000

($1,548 psf), according to URA caveat data. In

the same month, a 344 sq ft unit was transact-

ed at $602,000 ($1,748 psf).

Within walking distance of Heritage

East is the upcoming Marine Terrace MRT sta-

tion on the Thomson-East Coast Line, which

is slated to open in 2023. “The Thomson-East

Coast Line is likely to increase the appeal of

the area to tenants. Investors could rent out

the unit to those who want a place accessi-

ble from the city centre, but who prefer not

to pay the higher rental rates within the Core

Central Region,” says Lim.

Completed in January 2012, Heritage East

was developed by World Class Land, the

property development arm of jeweller As-

pial Corp. World Class Land also developed

the nearby 38-unit, freehold Palmera Resi-

dence and the 16-unit, freehold East Treas-

ure at Lorong N Telok Kurau.

Heritage East is located near the 185ha East

Coast Park and its 15km coastline, which is

popular with cycling and roller blading aficio-

nados. Within the park is the 1.4ha Xtreme

SkatePark, designed for skateboarding and

other extreme sports. It was developed by the

Ministry of Culture, Community and Youth

and the National Parks Board.

TABL

ES: U

RA, E

DGEP

ROP

E


PROP HUNT

$2,080,000 Terrace HouseKEW AVENUE | 99 yearsBuilt-Up(sqft): 3,000 | Land(sqft): 1,765PSF: $1,178

$18,000/mth Detached HouseMOUNT PLEASANT ROAD | FreeholdBuilt-Up(sqft): 5,692 | Land(sqft): 55,800PSF: $0.32

$6,500/mth Semi-Detached HouseTHOMSON HILL | FreeholdBuilt-Up(sqft): 6,000 | Land(sqft): 4,000PSF: $2

$2,280,000 Terrace HouseEASTWOOD DRIVE | 99 yearsBuilt-Up(sqft): 3,100 | Land(sqft): -PSF: $735

$2,500,000 Terrace HouseKANG CHOO BIN WALK | 999 yearsBuilt-Up(sqft): 2,000 | Land(sqft): 1,848PSF: $1,353

$3,400,000 Semi-Detached HouseKELULUT HILL | 999 yearsBuilt-Up(sqft): 2,000 | Land(sqft): 3,497PSF: $972

$4,900/mth Terrace HouseMOULMEIN ROAD | FreeholdBuilt-Up(sqft): 1,770 | Land(sqft): 1,770PSF: $3

$4,750,000 Strata Semi-Detached HouseWHITLEY ROAD | FreeholdBuilt-Up(sqft): 6,082 | Land(sqft): -PSF: $781

$4,300,000 Corner Terrace HouseJALAN TUA KONG | FreeholdBuilt-Up(sqft): 3,455 | Land(sqft): 3,038PSF: $1,415

$4,300,000 Semi-Detached HouseJALAN ANGGEREK | FreeholdBuilt-Up(sqft): 4,000 | Land(sqft): 4,054PSF: $1,061

$5,300,000 Semi-Detached HouseSURIN LANE | FreeholdBuilt-Up(sqft): 4,500 | Land(sqft): 4,216PSF: $1,257

3-storey inter terrace house. 5-bedroom plus

utility room. Simple and well kept. Functional

spacious layout. Wet and dry kitchen. Serene living

environment.

Stunning black and white bungalow + in-ground

pool with timber decking + huge garden. 1 huge

house with 2 annexes. Unfurnished. Immediate.

Pristine condition semi-detached house. Available

from mid April. Good sized garden and drive way

to 2 executive saloon cars. Elevated front porch,

ideal for afternoon teas, children's play area.

Staggered dining area.

3-storey inter-terrace w/future Sungei Bedok MRT

5-min walk away. 5 spacious bedrooms. No direct

afternoon sun. Walking distance to supermarket &

other amenities. Easy access to airport and Changi

Business Park.

2-storey inter terrace house. 12 mins walk to Kovan

MRT station. Bare unit. Easy for you to do your own

interior design.

Well renovated. Spacious layout. Accessible to shop/

food and amenities nearby. Surrounded by good

education institutions. Spacious porch car space.

Beautifully renovated and restored peranakan

landed house in the city. Walking distance (7 mins)

to Novena MRT station, United Square and Velocity.

Newly and fully renovated. Remote-controlled

blinds/shades. Move-in condition. Only unit with

270 degreee pool view. 5 bedroom ensuite.

Beautifully done up. 4 spacious bedrooms with

attached bathrooms, maid's room, wet & dry

kitchen, convenient location and near amenities.

This is a house that you want to spend the whole

day in.

Beautiful freehold 2-storey semi-detached house. 4

rooms plus maid room. North east facing. Can park

3 to 4 cars. 5 mins walk to NTUC and eatery. 8 mins

walk to Mattar MRT station.

Beautiful 2-storey semi-detached house near Kovan

MRT station. Lovely gardens. Dual entrances. Can

park 2 cars. 100% move in condition.

Scan QR code for more details

Esther Kan HUTTONS ASIA PTE LTDR008333C

65 9738 5952

Mike Yeo HUTTONS ASIA PTE LTDR007558F

65 9633 6070

William Teo WTG CONSULTANTS PTE LTDR027342F

65 9450 1088

Catherine Ng HUTTONS ASIA PTE LTDR046494I

65 9777 3100

Properties for Sale & LeaseTo be featured, email [email protected] or call 9855-5282

Landed

Solomon Chow WTG PROPERTY PTE LTDR043148Z

65 9228 2254

Solomon Chow WTG PROPERTY PTE LTDR043148Z

65 9228 2254

$15,500,000 Conservation HouseEMERALD HILL ROAD | FreeholdBuilt-Up(sqft): 6,000 | Land(sqft): 2,442PSF: $6,347

Fully renovated conservation house. 5 bedrooms

+ 6 bathrooms. All imported fixtures and fittings.

Limestone and marble living room and bathrooms.

Serene Chua CBRE REALTY ASSOCIATES PTE LTDR024344F

65 9819 9199

Jason Sern PROPNEX REALTY PTE LTDR057736J

65 9682 1583

Esther Kan HUTTONS ASIA PTE LTDR008333C

65 9738 5952

Brandon Koh ERA REALTY NETWORK PTE LTDR024293H

65 9671 6641

Nellie Lim ERA REALTY NETWORK PTE LTDR054010F

65 9625 5518

Lelia Lim SMP REALTY PTE. LTD.R018565I

65 9862 2528


PROP HUNT


Alice SokFang Ng ERA REALTY NETWORK PTE LTDR053550A

65 9757 8530

William Teo WTG CONSULTANTS PTE LTDR027342F

65 9450 1088

$720,000 Double Bay ResidencesSIMEI STREET 4, 529886 Singapore99 Years | Bedroom: 1Size(sqft): 538 | PSF: $1,338

$4,900,000 The Wharf ResidenceTONG WATT ROAD, 238026 Singapore999 Years | Bedroom: 4Size(sqft): 2,207 | PSF: $2,220

$1,295,000 Dorsett ResidencesNEW BRIDGE ROAD, 88764 Singapore99 years | Bedroom: 1Size(sqft): 484 | PSF: $2,676

$908,000 FLO ResidencePUNGGOL FIELD WALK, 828745 Singapore99 years | Bedroom: 2Size(sqft): 861 | PSF: $1,055

$1,898,800 Clover By The ParkBISHAN STREET 25, 573975 Singapore99 Years | Bedroom: 3Size(sqft): 1,604 | PSF: $1,184

$2,630,000 Horizon ResidencesPASIR PANJANG HILL, 118864 SingaporeFreehold | Bedroom: 4Size(sqft): 1,475 | PSF: $1,783

$1,562,000 Hume Park IIHUME AVENUE, 598732 SingaporeFreehold | Bedroom: 3Size(sqft): 1,249 | PSF: $1,251

$1,280,000 Sky VueBISHAN STREET 15, 573910 Singapore99 Years | Bedroom: 2Size(sqft): 678 | PSF: $1,888

$2,800,000 Rochelle At NewtonKENG LEE ROAD, 308414 Singapore99 Years | Bedroom: 4Size(sqft): 1,744 | PSF: $1,606

$610,000 Opal SuitesOPAL CRESCENT, 328396 SingaporeFreehold | Bedroom: 1Size(sqft): 431 | PSF: $1,415

Currently Tenanted at $2100/mth until June. Can be

sold vacant/with tenancy. 400m to Simei MRT and

Eastpoint Mall. 24-Hour NTUC, famous eateries,

fast food, shopping and more.

Luxurious, high floor breezy unit. Prime district.

Superb location. Suitable for own stay or investment.

Facing pool. Decent size balcony. Proper living

area. Bedroom can fit king size bed with space to

move around. Unblocked view of city. Near Vivo,

Orchard, within prime area. Good prospect of

tenants. Grand lobby entrance.

High floor, bright and windy. Unblocked pool view.

3 mins walk to LRT and Punggol Plaza, community

centre.

Tastefully styled renovated dream home. Bright &

breezy house facing the pool view represents good

fengshui & good "chi".

Top floor, renovated. At the peak of exclusive

Pasir Panjang Hill. Look out to sea from your

own balcony. Haw Par Villa MRT station is a

mere 3-4 minutes' walk away. Top rated local and

international schools nearby.

Pristine condition 3 bedder + 3 baths + utility room.

Move-in condition, minimal renovation required.

Spacious bedrooms. Balcony at living room and

master bedroom. Quiet facing. Living room facing

Hume Park 1 swimming pool.

Like new - just completed 2016 by Capitaland. High

floor, bright and windy, no west sun. 2 mins walk to

Bishan MRT interchange, Junction 8 shopping mall.

Walking distance to top schools: Raffles Institution,

Catholic High.

Limited supply of 4 bedrooms with balcony. Good

layout suitable for all families in District 11. Full

condo facilities including tennis court. Within 1km

to reputable schools. Walking distance to Newton

MRT station and Newton Food Centre.

Well kept. 1+study room, store room. Selling with

tenancy. Walk to Potong Pasir MRT 7mins. Mins

walk to eateries/restaurants.

To be featured, email [email protected] or call 9855-5282

David Chin LHG PROPERTIES PTE LTD.R058700E

65 8200 0013

Penny Chng ERA REALTY NETWORK PTE LTDR058340I

65 9788 4992

Properties for Sale

$1,450,000 The ViridianJALAN AMPAS, 329507 SingaporeFreehold | Bedroom: 2Size(sqft): 893 | PSF: $1,624

2 + Study. Good size & layout. 2 bathrooms.

Currently tenanted (corporate lease). Selling with

lease. Amenities within minutes of walking: cinema,

restaurants, supermarkets, schools & many more.

Condominium

Mary Pang INFEX PTE. LTD.P014081G

65 9677 7327

Jasmaine ChuaHUTTONS ASIA PTE LTDR006925Z

65 9385 5191

Jackson Ho PROPNEX REALTY PTE LTDR051701E

65 8613 3830

Irene Leong KONG QUST REALTY (S) PTE LTDR008569G

65 9855 4903

Elaine Chng ORANGETEE & TIE PTE LTDR009620F

65 8222 3977

$990,000 Melville ParkSIMEI STREET 1, 529948 Singapore99 Years | Bedroom: 3Size(sqft): 1,302 | PSF: $760

Renovate. Very spacious living & dining area. Good

size kitchen & helper's room. Walk-in wardrobe

(master bedroom). All common bedrooms fits

queen-size bed. Simei MRT Station & East Point

Shopping Mall (10 mins walk).

Lim Bian, Nellie HUTTONS ASIA PTE LTDR001648B

65 9270 8326

Sze May Sim PROPNEX REALTY PTE LTDR058227E

65 8820 6003

Felix Hui PROPNEX REALTY PTE LTDR049264J

65 9763 8648


PROP HUNT


$5,300/mth UBI AVENUE 1 - Shop House for rentUBI AVENUE 1 Singapore60 years | Size(sqft): 700 | PSF: $8

$3,100/mth Ispace - Factory for rentSOON LEE STREET, 627608 Singapore30 years | Size(sqft): 1,773 | PSF: $2

$4,000/mth SouthbankNORTH BRIDGE ROAD, 198784 Singapore99 years | Bedroom: 1Size(sqft): 1,000 | PSF: $4

$2,700/mth The BayshoreBAYSHORE ROAD, 469976 Singapore99 years | Bedroom: 2Size(sqft): 980 | PSF: $3

$3,800/mth Parc MackenzieMACKENZIE ROAD, 228687 SingaporeFreehold | Bedroom: 2Size(sqft): 1,431 | PSF: $3

$2,500/mth The PalettePASIR RIS GROVE, 518199 Singapore99 years | Bedroom: 2Size(sqft): 893 | PSF: $3

$3,600/mth The RegaliaRIVER VALLEY CLOSE, 238428 SingaporeFreehold | Bedroom: 3Size(sqft): 1,249 | PSF: $3

$2,400/mth Guillemard EdgeLORONG 30 GEYLANG, 398371 SingaporeFreehold | Bedroom: 2Size(sqft): 549 | PSF: $4

$1,900,000 SBF Center - Office for saleROBINSON ROAD, 68914 Singapore99 years | Size(sqft): 592 | PSF: $3,209

$605,000 A'Posh BizHub - Factory for saleYISHUN INDUSTRIAL STREET 1, 768160 Singapore60 years | Size(sqft): 1,356 | PSF: $446

Nicely fitted family restaurant for immediate

takeover. Surrounded by offices, industrial estates

and residential housing. Excellent human traffics. 3

mins walk from Ubi MRT station.

Ramp up B2 factory at top floor. No afternoon sun

and windy. Good location. Near AYE and PIE. Near

Jurong Point. High Ceiling.

3 mins slow walk to Lavender MRT. CBD only 2

MRT station away, or jogging to CBD takes about

15-30mins. Wet market and supermarket within a

short walk. High ceiling gives a majestic feel when

entering the unit.

Mid-high floor. Bright, breezy and cosy. Unblocked

views from both bedrooms. Partial furnished with

white goods. Unit available from mid April.

B1 light industrial space for sale. Suitable for storage,

office or warehouse. Close to Yishun MRT station.

Near to several eateries located at nearby buildings.

Beautiful ground floor unit with patio. Bright and

windy. Open concept kitchen. 4 mins walking

distance from Little India MRT station.

Available early April. High floor. 2 bedroom +

study the size of a normal bedroom. Near to Pasir

Ris MRT & White Sands Shopping Center. Comes

with floor storage. Enclosed kitchen for heavy

cooking. Full condo facilities.

Good location, good environment. Japanese school

bus route. 10 mins to Somerset MRT & NTUC

Supermarket. 12 mins walk to Great World City.

Spacious living hall. Quiet, bright & breezy.

Walking distance to Dakota & Aljunied MRT

station. Easy access to offices in Suntec, Raffles

Place, Tanjong Pagar, Bugis, Orchard, Dhoby Ghaut,

Somerset. Full condo facilities.

Very attractively priced office unit on high floor

with partial sea view. Small office suitable for 5 office

staffs.

To be featured, email [email protected] or call 9855-5282

Brandon Koh ERA REALTY NETWORK PTE LTDR024293H

65 9671 6641

David Chin LHG PROPERTIES PTE LTD.R058700E

65 8200 0013

Properties for Sale and Lease Condominium Business Space

$2,800/mth 6 DerbyshireDERBYSHIRE ROAD, 309462 SingaporeFreehold | Bedroom: 1Size(sqft): 474 | PSF: $6

$4,600/mth Eon ShentonSHENTON WAY, 79118 Singapore99 years | Bedroom: 2Size(sqft): 689 | PSF: $7

Breath-taking view with smart home technology

features.

Brand new condo, just TOP. Available now. High

floor, corner unit, privacy. City view and pocket

view of the sea from the balcony - convenient access

from master room. Well-ventilated. 4 mins walk to

Tanjong Pagar MRT Station.

Selvi Loe PROPNEX REALTY PTE LTDR051854B

65 9048 7598

Wendy Loh PROPNEX REALTY PTE LTDR016345J

65 9185 7658

Timothy Chew ORANGETEE & TIE PTE LTDR021687B

65 9178 1178

David Wang ERA REALTY NETWORK PTE LTDR024023D

65 9025 0911

Steven Lo ERA REALTY NETWORK PTE LTDR027526G

65 9844 2907

Mary Pang INFEX PTE. LTD.P014081G

65 9677 7327

Meena Kashyap Ketharaju PROPNEX REALTY PTE LTDR057729H

65 8139 5272

Lim Bian, Nellie HUTTONS ASIA PTE LTDR001648B

65 9270 8326

SOM PROPNEX REALTY PTE LTDR018540C

65 9788 4142

Christina Chew ORANGETEE & TIE PTE LTDR013898G

65 9235 2017

20180319 s ep 822 - dkc9trqgco1sw.cloudfront.net5 under the hammer second unit at turquoise put up...

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