Condos with the most attractive deferred payment schemes PROPERTY PERSONALISED

PROPERTY PERSONALISED MCI (P) 136/08/2017 PPS 1519/09/2012 (022805) Visit EdgeProp.sg to nd properties, research market trends and read the latest news The week of September 25, 2017 ISSUE 798-20 Co-working The Great Room raises more than $5 mil in Series-A funding EP4 Super homes Bungalow price setters EP6 Done Deals Parc Riviera fully sold in less than a year EP10 Gains and Losses Unit at The Claymore sold at $3.72 mil profit EP12 SAMUEL ISAAC CHUA/THE EDGE SINGAPORE Condos with the most attractive deferred payment schemes A spate of such incentives at projects such as Reflections at Keppel Bay, The Crest and Marina Collection proves to be a lure for homebuyers and investors. See our Cover Story on Pages 8 and 9. Reflections at Keppel Bay

EP2 EDGEPROP SEPTEMBER 25, 2017 PROPERTY BRIEFS ADVERTISING + MARKETING ADVERTISING SALES DIRECTOR, ADVERTISING & SALES Cowie Tan ASSOCIATE ACCOUNT DIRECTOR Diana Lim SENIOR ACCOUNT MANAGER Priscilla Wong ACCOUNT MANAGER James Chua CIRCULATION DIRECTOR Victor The EXECUTIVES Malliga Muthusamy, Ashikin Kader, Winnie Lim CORPORATE CHIEF EXECUTIVE OFFICER Bernard Tong PUBLISHER The Edge Property Pte Ltd 150 Cecil Street #13-00 Singapore 069543 Tel: (65) 6232 8622 Fax: (65) 6232 8620 PRINTER KHL Printing Co Pte Ltd 57 Loyang Drive Singapore 508968 Tel: (65) 6543 2222 Fax: (65) 6545 3333 PERMISSION AND REPRINTS Material in The Edge Property may not be reproduced in any form without the written permission of the publisher We welcome your comments and criticism: propertyeditor.sg@ bizedge.com Pseudonyms are allowed but please state your full name, address and contact number for us to verify. HOME Freehold commercial building at Selegie Road for sale at $20 mil On Sept 18, marketing agent Cushman & Wakefield announced that a five-storey conserved commercial building at 167 and 169 Selegie Road (right) is being put up for sale by public tender. The asking price is $20 million. It sits on a land area of 2,956 sq ft and has a total floor area of 10,292 sq ft. According to the 2014 Master Plan, it is zoned Commercial & Residential with a plot ratio of 4.2. The freehold property will be sold with an existing tenancy. The ground floor is occupied by Spa & Wellness Centre, while the second to fifth floors are offices. There is a temporary approval for a gym/fitness centre on the second floor. The property is in the Mount Sophia Conservation Area within the Bras Basah-Bugis district. It is a few minutes drive to the Orchard Road shopping belt and the CBD. The Little India MRT interchange and Rochor MRT station are both within walking distance. The tender exercise will close on Oct 19. Singapore property prices expected to rise 5% to 10% in 2018: UOB UOB Kay Hian expects property prices to rise 5% to 10% next year after bottoming out this year, as recovery spreads to the mid-range and high-end segments. This is driven by replacement demand from buyers who sold their homes in en-bloc sales and a pickup in home buying interest from foreigners, says UOB Kay Hian lead analyst Vikrant Pandey in a Sept 18 report. The next wave of recovery will start from the mass market and flow over to the high-end segment. The return of en-bloc sales and greater foreign participation should power the high-end segment. Collective sales value transacted from January to August topped $3 billion, exceeding the combined transactional value from 2013 to 2016. Vikrant believes the market is still in the early stages of the en-bloc fever, which could run until the end of next year. OFFSHORE Keppel Land acquires prime CBD site in Jakarta for $60 mil On Sept 19, Keppel Land announced that it had entered into a conditional sale and purchase agreement with Bank Central Asia, via its wholly-owned subsidiary PT Sukses Manis Tangguh, to acquire a prime site in Jakarta s CBD. The total consideration is IDR586 billion ($60 million). Keppel plans to develop a premium high-rise tower that could yield about 400 luxury apartments. The total development cost is estimated to be $170 million. The site is 83,000 sq ft with a gross floor area of about 390,000 sq ft and on the main thoroughfare of Jalan Jenderal Sudirman. The site is accessible via the upcoming Setiabudi MRT station, expected to be fully operational in 2019. Finchatton brings luxury Four Seasons Private Residences to London On Sept 19, Finchatton announced that it had partnered with Four Seasons Hotels and Resorts to offer the first standalone Four Seasons Private Residences. CUSHMAN & WAKEFIELD Located at 20 Grosvenor Square in Mayfair, London and opening in 2018, it will be the first Four Seasons Private Residences to be operated independently of a Four Seasons hotel or resort. The residence will have 37 units, serviced by Four Seasons employees and offering the amenities of a Four Seasons hotel. The 250,000 sq ft development will also include a private wine cellar, a spa with a 25m swimming pool, fitness centre, cinema and a business suite, among others. The project will offer three-, four- and fivebedroom apartments, with the interiors designed by Finchatton. According to marketing agent Knight Frank, prices start from 17.5 million ($31.9 million) for a three- or four-bedroom apartment and 35 million for a five-bedroom apartment. According to Finchatton, the residence will offer in-residence dining and catering, concierge services, housekeeping, grocery stocking, event planning, childcare, pet care and transportation and business services. Forest City s lucky draws commence this month On Sept 19, Country Garden Pacific View, the master developer of Forest City in Johor, announced that it is holding lucky draws at its project s sales galleries throughout Malaysia this month and next month, with prizes including 30g gold bars with a cumulative weight of 1,600g. The draws will be held on Sept 23 and 24 and from Oct 23 to Nov 12. Staff distributed confession love letters in Kuala Lumpur, Penang and Melaka, among others, containing two lucky draw tokens that entitle recipients to attend the events. Interested participants stand to win prizes like a HD TV, microwave ovens and other electrical appliances. The Grand Prize lucky draw will be held from Oct 23 to Nov 12 at the Forest City sales gallery in Johor, where the prizes are the 30g gold bars. Compiled by Timothy Tay E COLLECTION 3-Year plan at $238 only The Edge Singapore (print + 3 digital access) + The Edge Malaysia (1 digital access) SUBSCRIBE NOW! REDEEM EITHER 1. 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EDGEPROP SEPTEMBER 25, 2017 EP3 PERSONALITY Swan & Maclaren s Flannery on Singapore s oldest architectural firm BY CECILIA CHOW Christopher Flannery is a director of Swan & Maclaren, which, at 125 years old, is Singapore s oldest architectural firm. A life-long expatriate, Flannery was born in the UK and grew up in the US when his family moved to Concord, located just outside Boston in Massachusetts. He returned to London later and studied at the Architectural Association School of Architecture and is a registered UK architect. In London, Flannery says he was very lucky to have had the opportunity to work on the St Martins Lane hotel in 1999 and the Sanderson hotel in 2000. Regarded as iconic hotels in London, their interiors were designed by celebrated French designer Philippe Starck. They are part of a portfolio of hotels owned by American business magnate and hotelier Ian Schrager. Flannery came to Asia in 2003, and his maiden project was the design of the five-star Le Meridien Hotel Bangkok. He joined Swan & Maclaren in 2011 as a director. We call ourselves Swan & Maclaren 4.5, he says. We re the fifth generation of architects at Swan & Maclaren. For the past 125 years, each generation has built on the work of the previous generation and upheld their values. Landmarks designed by Swan & Maclaren include St Andrew s Cathedral, Tanjong Pagar Railway Station and Victoria Theatre & Concert Hall, which have all been gazetted as national monuments by URA. Meanwhile, Swan & Maclaren architect R A J Bidwell designed Raffles Hotel and Goodwood Park Hotel, which were built in 1887 and 1900 respectively. The luxury hotel Sofitel So Singapore on Robinson Road was also designed by Swan & Maclaren and built in 1927. Prior to its latest reincarnation as a luxury hotel, it was occupied as an office by media and communications giant Ogilvy and was named Ogilvy Centre. It was originally the telecommunications building. Among Swan & Maclaren s past Flannery: We re the fifth generation of architects at Swan & Maclaren. For the past 125 years, each generation has built on the work of the previous generation and upheld their values. projects, Flannery says a favourite of his is Goodwood Park Hotel, as it is perched on a hill and looks beautiful at night. Recent commercial projects in Singapore designed by Swan & Maclaren include the transformation of GSH Plaza commercial tower on Cecil Street in the CBD, the new 20-storey extension of Raffles Hospital on North Bridge Road and the Raffles Medical Centre Holland V. Swan & Maclaren is also the architect for a new futuristic building that will replace the former Holland Road Shopping Mall, dubbed The Windmill Building. Private condominiums designed by the architectural firm include the 380-unit Stratum and 463-unit Vue 8 in Pasir Ris. At Swan & Maclaren, Flannery s focus is on developing new markets regionally and internationally. While its Singapore office is the headquarters and design hub, Swan & Maclaren also has offices in Kuala Lumpur and Johor Bahru in Malaysia; Hanoi and Ho Chi Minh City, Vietnam; Bangkok, Thailand; and Shanghai, China. In Flannery s view, the project that really transformed Singapore s skyline is Esplanade Theatres on the Bay. It features two domes fitted with more than 7,000 aluminium sunshades, designed to look like triangular fins, hence the building s nickname of Durians among Singaporeans. Esplanade was designed by Singapore-based DP Architects in collaboration with UK architectural firm Michael Wilford & Partners. I think the shading device at The Esplanade is an interesting response to the climate, says Flannery. It s a great space for a cultural centre and a unique attraction for Singaporeans and visitors alike. Flannery is one of five judges on the panel for the inaugural EdgeProp Excellence Awards Singapore. He believes it is important to recognise good buildings and spaces. Such awards help motivate stakeholders and also engage the public by creating awareness of and appreciation for well-designed spaces, he says. E The makeover of GSH Plaza on Cecil Street was undertaken by Swan & Maclaren Goodwood Park Hotel was designed by Swan & Maclaren PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE RORY DANIEL RORY DANIEL RORY DANIEL Swan & Maclaren was the architect for the 380-unit private condo Stratum at Pasir Ris Raffles Medical Centre Holland V was designed by Swan & Maclaren

EP4 EDGEPROP SEPTEMBER 25, 2017 CO-WORKING The Great Room raises more than $5 mil in Series-A funding BY LIN ZHIQIN The 10,000 sq ft extension of The Great Room at One George Street has been 100% taken up even before its opening at the end of this month. The Great Room co-working space will therefore occupy the entire floor plate of 25,000 sq ft on the 10th floor of One George Street. This is a far cry from a year ago when The Great Room first started operations. Occupying half a floor of about 15,000 sq ft, it opened with just 30% occupancy, according to its co-founder and CEO Jaelle Ang. [Occupancy] was much lower than we had projected. However, the space was fully taken up within four months, she adds. The Great Room has secured a second location at Pontiac Land Group s Centennial Tower in the Marina Centre area. The 36,000 sq ft space spans two floors and is slated to open before end-4q2017. Overseas expansion On Sept 20, The Great Room announced its first overseas location 30,000 sq ft located at the newly built Gaysorn Tower in the heart of Bangkok s CBD. It is scheduled to open in 1Q2018. The co-working operator has closed its Series-A funding, having raised more than $5 million. The funding round was led by CapitaLand s corporate venture fund, C31 Ventures, with participation from iglobe Partners and the family office of Goldbell Group. The funds raised will allow The Great Room to expand its footprint across Asia to pursue synergistic partnerships with developers that own prime commercial real estate assets in Asia. It is crucial to find the right partners, says Ang. In addition to capital, partners can also offer access to their portfolio of assets. We currently have a lot of interest from asset owners. For example, Ang is in talks with a developer in Hong Kong with a portfolio of commercial real estate. She intends to grow the number of co-working sites to seven by next year. Besides Singapore and Bangkok, she is planning for The Great Room to be in Hong Kong and Jakarta as well. Hospitality-inspired workspace Ang conceived the idea of The Great Room three years ago. She was then head of development at Thai Stock Exchange-listed property company Country Group Development and based in Bangkok. She continues to sit on its board of directors today. Country Group Development is the developer of the Four Seasons Hotel and Four Seasons Private Residences, as well as the Capella Hotel Bangkok. It was while she was looking for an operator to manage the group s The Great Room is a hospitality-inspired workspace Ang intends to grow the number of co-working sites to seven by next year portfolio of commercial properties that Ang realised there was a gap in the market. She felt there was a need to create a hospitality-inspired workspace. She predicts that co will soon be dropped over time, and it will just be working. Co-working will become a critical component of many companies real estate strategies, for office occupiers and building owners alike, she adds. Incidentally, the other co-founders of The Great Room are Ang s husband and CFO, Yian Huang, and his sister, Su Anne Mi, who is COO. According to Ang, the co-founders visited more than 60 buildings before deciding on One George Street, which is 50%-owned by CapitaLand Commercial Trust in a joint venture with insurance giant FWD Group. The latter is part of Hong Kong tycoon Richard Li s Pacific Century Group. Targeting grown-up start-ups The Great Room at One George is now at full capacity. Ang also tries to curate the members by attracting marquee tenants. Today, about a third of the members are tech companies, another one-third are in finance and the remainder are in the creative and lifestyle industries. The target market segment is grown-up start-ups, says Ang, who defines them as companies that are funded and on a growth trajectory. Existing members at The Great Room at One George Street include Thailand-based fintech start-up Omise, famed for raising US$25 million ($33.6 million) in an Initial Coin Offering; New York-based Sprinklr, which provides social media management to companies; and Berlin-headquartered Design Hotels, which provides hospitality servi ces A meeting room at The Great Room One of The Great Room s dedicated office spaces to boutique and luxury hotels in more than 50 countries. Services beyond space The Great Room is also receiving requests from MNCs and banks looking to accommodate 200 to 300 of their staff at its premises. Previously, MNCs and banks housed their marketing or innovation teams in co-working spaces to have them close to the pulse of the market, observes Ang. That has since changed. Now, they want flexibility and are looking to partner co-working operators for up to onethird of their space requirement and, ideally, in the same building. Increasingly, co-working space will be a must-have amenity for office landlords, as a service to their other tenants, she adds. The hospitality-inspired theme at The Great Room is not just in its interior design and spaces but also services. On Mondays, complimentary breakfast and coffee are served, while in the evening, there is a turndown service, where members who work late are offered complimentary hot chocolate and cookies. These are little ways to take care of people and make them feel comfortable, she says. E PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE THE GREAT ROOM THE GREAT ROOM

THEEDGE SINGAPORE SEPTEMBER 25, 2017 EP5

EP6 EDGEPROP SEPTEMBER 25, 2017 SUPER HOMES The exterior of SC Homes bungalow at Matlock Rise, which is on the market with a price tag of $19.8 million SC HOMES Bungalow price setters BY CECILIA CHOW When luxury property developer Simon Cheong of SC Global Developments sets benchmark prices for his properties, it is a clear sign that the property market is on the cusp of another property boom. In the ultra-luxury condominium segment, Cheong recently sold a super penthouse at Sculptura Ardmore for over $60 million, or $6,000 psf, a feat unsurpassed in the Ardmore Park neighbourhood. He has likewise scaled new heights in the luxury bungalow segment, w here he develops houses under the SC Homes brand. At Windsor Park Estate, SC Homes developed and sold a new Good Class Bungalow (GCB) that sits on a freehold site of 19,278 sq ft for $27 million ($1,400 psf) in January 2013. The price is still a record for Windsor Park Estate today both in absolute and psf terms. At King Albert Park, another GCB enclave, Cheong developed and sold a bungalow on a freehold site of 16,749 sq ft for $25 million ($1,493 psf) in January 2016. The price is still the highest in psf terms in the King Albert Park enclave. are always looking out for new and interesting sites within these coveted residential areas. Matlock Rise SC Homes recently put another new bungalow on the market for sale at Matlock Rise. The house was designed by renowned architect RT+Q Architects. A standout feature is the sculptural spiral staircase leading from the basement car park to the first level of the house. The car park is big enough for 10 cars, and has concealed storage space as well as a rest area and washroom for the chauffeur. The double-storey house bears all the hallmarks of an SC Home: high ceiling and finishes of the highest quality from travertine walls to walnut panelling. More importantly, the houses exude a sense of space, with the living, dining and entertainment rooms featuring full-height glass doors that open out to an expansive manicured lawn and an infinity swimming pool. The house has five ensuite bedrooms. The property at Matlock Rise sits on a freehold land area of 10,224 sq ft and has a builtup area of 8,100 sq ft. The site is located within Braddell Heights Estate, which is an established landed housing enclave. Matlock Rise is located on an elevated site, and all the houses along the street are sizeable bungalows. Cheong purchased the site at Matlock Rise six years ago. We were immediately attracted to the site as it provided us with a unique opportunity to design a large, open-plan living space elevated above street level, he says. This, in turn, provides privacy and accentu- SC HOMES Benchmark prices The benchmark prices achieved by our properties for Windsor Park and King Albert Park are testament to the SC Global brand and our reputation for excellence as a developer, says Cheong in an email. Over the last five years, SC Homes has developed and sold a number of landed properties in exclusive residential enclaves and GCB areas of Singapore and we View of the lawn from the living room of the house at Matlock Rise

EDGEPROP SEPTEMBER 25, 2017 EP7 SUPER HOMES CUSHMAN & WAKEFIELD STEVE TAY The two adjacent GCBs on Peirce Road are jointly for sale at $65 million The GCB at Ewart Park was sold for $20.5 million ates the sense of space through the sprawling landscaped grounds. Completed just last year, the property has recently been put up for sale by bungalow specialist K H Tan of Newsman Realty, who has been appointed the exclusive marketing agent. The price tag of the house is $19.8 million ($1,937 psf). Tan believes it is a good time to put the property for sale. Market sentiment has turned positive, [as a result of] the number of successful collective sale deals and strong sales at new launches, he says. Peirce Road GCBs SC Global s Cheong has also placed two adjacent GCBs at 26A and 26B Peirce Road on the market for sale. The houses sit on a combined land area of 32,478 sq ft and are to be sold jointly. The price tag is $65 million ($2,001 psf). The expression of interest exercise conducted by Cushman & Wakefield will close on Sept 27. The two houses are among six at 26, 26A to 26E Peirce Road purchased by Cheong in December 2005 for $35 million. Just four months later, one of the GCBs, purchased for $4.3 million was sold for more than double the price $9 million according to a caveat lodged in March 2006. Meanwhile, another GCB, purchased for $4.9 million, fetched $17.6 million five years later, according to a caveat lodged in December 2010. According to Cheong, the release of the Peirce Road and Matlock Rise houses was in response to growing interest in the market from high-net-worth individuals who are looking to invest in larger, well-designed landed property within respected residential and GCB enclaves. Pickup in transactions across the board William Wong, managing director of landed housing marketing agency Realstar Premier Group, says the firm sold 20 detached houses worth hundreds of millions last month. It was the highest monthly sales achieved since 2010, he adds. The pickup in transactions has been across the board, notes Wong. In the Bukit Timah area, the deals brokered by RealStar included a detached house at Vanda Crescent, off Eng Neo Avenue, which was sold for $8.38 million ($1,659 psf). A house at Namly Crescent fetched $9.5 million ($1,210 psf). In the East, a house at Goodman Road was sold for $8.2 million ($1,901 psf) and another on Walton Road, off Mountbatten Road, went for $13.5 million ($1,556 psf). Wong predicts that the volume of transactions this year is likely to be 20% higher y-o-y. Prices, meanwhile, are likely to be only 10% to 15% below the last peak in 2013, he reckons. Rikki Tikki House sold for $20.5 million In the recent sale of a GCB at Ewart Park for $20.5 million ($1,348 psf), Realstar Premier represented the buyer, while Steve Tay, vice-president (resale) of CBRE Realty Associates, represented the seller, a British Indian couple with two grown-up children. The family became Singapore citizens 15 years ago. The house was designed by acclaimed architect Guz Wilkinson, who called it Rikki Tikki House, inspired by the house set amid a forest in Rudyard Kipling s The Jungle Book. The GCB at Ewart Park is a reinterpretation of a traditional courtyard house, with a centrally landscaped courtyard, and living spaces designed around it. The verandahs and roof gardens have views of the jungle beyond. The house was originally part of a bigger land plot of 48,000 sq ft that was carved into three smaller GCBs. Rikki Tikki House sits on a freehold land area of 15,190 sq ft, with a built-up area of 10,000 sq ft. Completed in 2006, it has five en-suite bedrooms, an entertainment area, a basement and a private swimming pool. The GCB next door, which was completed at the same time in 2006, was sold 12 months ago for $19 million ($1,161 psf), according to a caveat lodged in September 2016. The [Rikki Tikki House] fetched a premium because it s the only one of the three sites to have a wide frontage and direct views of the greenery, says CBRE s Tay. It s also on road level, unlike the two neighbouring properties, which are below street level, and can only be accessed via a long driveway. Yarwood Villa for $27.5 million In the quiet GCB enclave of Yarwood Avenue in District 21 are Yarwood Villas, three bungalows developed by listed property developer Ho Bee Land. The houses were designed by Axis Architects & Planners, along the lines of the colonial-era black and white bungalows. They were completed in 2001, and sold to individual owners. One of the bungalows has changed hands five times since the first buyer purchased it in November 2001 for $6.6 million ($405 psf). Its current owner is the sixth, having purchased the property five years ago with the intention of moving in. However, after renovating the house, the owner decided to put it up for lease instead. Jane Ang, senior group sales director at Savills Residential, who represented the owner then, secured a tenant at $23,000 a month over a three-year period. The owner has now decided to put the property up for sale, with Ang as the exclusive agent. The double-storey house has a basement level, five en-suite bedrooms, and a 14.5m inground swimming pool. It has a built-up area of 8,859 sq ft and sits on a 999-year leasehold land area of 16,278 sq ft. The colonial-style GCB at Yarwood Avenue is on the market for $27.5 million The grand staircase at the foyer of the house at Yarwood Avenue Although the house was built 16 years ago, it has been well maintained, says Ang. The new owners need not spend too much money on additions and alterations. The house was recently valued at $25 million. Although it carries a price tag of $27.5 million, Ang says, the owners are serious sellers. Meanwhile, CBRE s Tay is in the midst of negotiating the sale of a GCB in the vicinity of Holland Road. He is confident that he will be able to secure a buyer soon. Compared with a year ago, sellers are willing to set a more realistic price in order to achieve a sale, Tay says. Meanwhile, buyers are ready to step in and commit to a property, especially if they see that the price is reasonable and at fair market value. Newsman s Tan concurs. He expects GCB prices to stabilise this year, with a possible 5% uplift next year. After all, prices [have fallen] about 20% over the past four years, he points out. The gap between buyers and sellers price expectations has narrowed, facilitating more transactions. E JANE ANG JANE ANG

EP8 EDGEPROP SEPTEMBER 25, 2017 COVER STORY At Reflections at Keppel Bay, selected units in Keppel Land s corporate residences portfolio are now offered for sale under a deferred payment scheme PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE Condos with the most attractive deferred payment schemes A spate of such incentives at projects such as Reflections at Keppel Bay, The Crest and Marina Collection proves to be a lure for homebuyers and investors Since OUE Twin Peaks was launched last April with a deferred payment scheme, all except one of the 462 units have been sold BY CECILIA CHOW On Sept 15, more than 30 units at Reflections at Keppel Bay were snapped up via a placement exercise conducted by property agencies OrangeTee and PropNex Realty. The units were in two 8-storey blocks (Nos 1 and 3) located nearest to the guardhouse at the main entrance fronting Telok Blangah Road, with views of Mount Faber. These two villa blocks contain more than 90 units in total and are part of the 151 units that developer Keppel Land held back for lease under the Residences at Reflections programme when the project was completed in 2011. The properties offered for sale were two-bedroom units of 1,055 to 1,238 sq ft and three-bedroom units of 1,528 to 1,905 sq ft. Only a maximum of 30 units in Block 1 were offered for sale with the option of a deferred payment scheme (DPS). Meanwhile, units in Block 3 were offered for sale under the normal payment scheme. There were two packages offered under the DPS. Under DPS1, buyers need only pay 1% booking fee, with the remainder 19% deposit due a fortnight later. However, the buyer will have to exercise the option and pay stamp duty within eight weeks. The remaining 80% will be payable two years later. Under DPS 2, the buyer will pay a 20% deposit and be issued an option to purchase. The payment for the remaining 80% will only be due 24 months after the option date. In the meantime, the option can be assigned to another person during the 22 months prior to exercising the option to purchase. Most of the buyers opted for DPS 2. However, regardless of which DPS they choose, they are not allowed to move in or lease out their units immediately. This is because some of the units are sold with an existing tenancy under Residences at Reflections, according to a marketing agent. Furniture rebate All buyers, however, were given a furniture rebate, which is essentially a rental return of $5 psf per month for two years, which could amount to at least $125,000. However, the rental return will only be payable at the end of the two-year period for those who opt for the DPS, while those who purchased units under the normal payment scheme will be get it at the end of eight weeks, when the option is exercised. Under the normal payment scheme, buyers were offered a higher discount of 23%. After taking the discount into consideration, selling prices started from $1.67 million for a two-bedroom unit of 1,055 sq ft, and from $2.45 million for a three-bedroom unit of 1,528 sq ft unit. Unit prices after the discount translated into $1,538 to $1,897 psf. These prices exclude the furniture rebate. Those who purchased units under the DPS were given a 20% discount. Prices of two-bedroom units therefore started from $1.74 million for a 1,055 sq ft, two-bedroom unit, and from $2.72 million for a 1,690 sq ft, three-bedroom unit. Unit prices after discount were $1,598 to $1,886 psf. In the placement exercise, those who opted for the normal payment scheme were given first dibs, says Dominic Lee, head of PropNex luxury team. If the unit was uncontested, they would automatically be the successful bidder. However, if there was more than one interested party, balloting was held for the unit. Units oversubscribed There was an equal mix of buyers who opted for the normal and deferred payment schemes, notes PropNex s Lee. The good response was not surprising, he says. In the weekend leading up to the placement exercise, 500 people came to view the units. There were quite a lot of people vying for the same units, adds Lee. Hence, many of

EDGEPROP SEPTEMBER 25, 2017 EP9 COVER STORY Premium prices Units sold under the PPP are priced between $1,800 and $1,900 psf. Wing Tai has a reputation for developing quality, high-end projects, says a source. The Crest is one such project. The 469-unit condo was designed by award-winning Japanese architect Toyo Ito and developed jointly by Wing Tai Holdings, Metro Australia Holdings and Maxdin Pte Ltd, a unit of UE E&C. According to Wing Tai in its FY2017 results briefing on Aug 25, about 43% of the units at The Crest have been sold so far. The developer also announced that it had made provision for impairment in the value of the project in 4QFY2017 (ended June 30). Although the amount of the impairment was not disclosed, it takes into consideration the 10% additional buyer s stamp duty, including interest, which the joint-venture partners have to pay this month. Some of the luxury projects that offer a DPS are the 174-unit Gramercy Park by City Developments and the 381-unit Leedon Residence by GuocoLand. Under the DPS, buyers have to pay a 20% down payment, with the remaining 80% payable two years later. Many buyers chose the normal payment scheme instead, as they would have to pay a premium of 4% to 5% above the selling price if they opted for the DPS, says PropNex s Lee, who is marketing units in both projects. Most of these buyers are well-heeled, and therefore very few opted for the DPS, he adds. At The Crest, three-bedroom lofts and four-bedroom, dual-key units were recently offered for sale under a preferential payment plan the units were oversubscribed. For instance, all the units on the first level of Block 1 were snapped up ahead of the placement exercise. Meanwhile, the seven 2-bedroom units on the fourth level of Block 1 received 20 expressions of interest and were all taken up at the placement exercise. Based on the rental returns or furniture rebate of $5 psf per month for the two-year period, buyers can expect yields of about 7.5% after taking into consideration the discount offered, notes PropNex s Lee. The strong take-up at the placement exercise was also attributed to Reflections at Keppel Bay s iconic image. Designed by renowned architect Daniel Libeskind, Reflections at Keppel Bay sits on a land area of 904,000 sq ft and comprises a total of 1,129 units. The project contains six sculptural glass towers of 24 to 41 storeys and 11 villa blocks of six to eight storeys. Most of the blocks have views of waterways, with some blocks fronting the sea, while others have views of Sentosa Island, the golf course or Mount Faber. The project is one of three 99-year leasehold condominium projects developed by Keppel Land at Keppel Bay, which was the site of the former Keppel Shipyard. Besides Reflections, there is the 969-unit Caribbean that was completed in 2004 and the 366-unit Corals that was completed last year and also designed by Libeskind. Preferential payment plan Perhaps one of the most attractive DPSs on the market today is the preferential payment plan (PPP) at The Crest, located on Prince Charles Crescent, off Alexandra Road. Rolled out on the weekend of Sept 9 and 10, the scheme allows buyers to pay a 1% booking fee upon signing the option to purchase, followed by a 4% initial down payment a fortnight later. The buyer will also have to exercise the option and pay stamp duty. However, the buyer can choose to move in immediately or lease out the unit. A further 5% deposit on the purchase price is due 12 months later, with the remainder 90% due 24 months after the option date. The PPP attracted a huge crowd on Sept 9 and 10 when it was introduced. However, only 60 units in two of the three high-rise blocks at The Crest have been made available for sale under the PPP. Units at the central tower of The Crest are not available for sale as they have been earmarked for rent by the developer. The units offered under the PPP are mainly three-bedroom lofts and four-bedroom dual-key units that are priced from about $3 million. This scheme is ideal for collective-sale beneficiaries who are looking to move into a new home immediately, says a property agent who declines to be named. It will also appeal to investors as they can lease out the unit immediately and earn rental income. For a three-bedroom loft unit of 1,518 sq ft priced at $3 million, the buyer needs to pay just a 5% down payment under the PPP, which translates into $150,000. Based on the average monthly rent of $6,000, the investor can earn an annual rental income of $72,000. After 12 months, when a further 5% down payment is due, the investor can use the rental income to offset the $150,000 payable. This means, he only needs to fork out $78,000. The appointed property agents for the project are Edmund Tie & Co, ERA Realty Network and OrangeTee. First luxury project at Sentosa Cove with DPS Meanwhile, at Sentosa Cove, famous for its waterfront luxury homes, Lippo Group has relaunched Marina Collection with a DPS. The 124-unit, high-end condo was completed in 2011. A DPS package was offered in February this year, whereby buyers pay a 30% down payment, after which they can choose to move in or rent out the unit. They only need to exercise the option to purchase two years later, when the remainder 70% is due. Since its launch, 10 units have been purchased mainly penthouses priced above $6 million. Based on caveats lodged, these penthouses ranged from 3,412 to 3,789 sq ft and were sold at prices between $6.15 million ($1,802 psf) and $6.43 million ($1,883 psf). The highest price achieved for the penthouses was $7.5 million ($1,600 psf), while two units were sold for close to $1,900 psf. However, caveats were not lodged for these units purchased under DPS, as their options have yet to be exercised. What is interesting is that all the buyers are foreigners, says PropNex s Lee, who handled the marketing of the units at Marina Collection under the DPS. They included US citizens, Russians, Polish, Swiss and mainland Chinese. The DPS at Marina Collection rides on the success of OUE Twin Peaks by Singapore-listed OUE Ltd, notes Lee. Incidentally, Lippo Group is the parent company of OUE. The 462-unit OUE Twin Peaks first rolled out the DPS for one of the towers in the development in April 2016, and for the second tower six months later. So far, all except one of the units have been sold. It was the success of the DPS at OUE Twin Peaks that inspired many other developers to offer similar schemes to offload their unsold inventory, says Lee, who was also involved in the launch of OUE Twin Peaks under the DPS last year. E THE EDGE SINGAPORE At Marina Collection, 10 penthouses priced above $6 million have been sold this year since the launch of its deferred payment scheme

EP10 EDGEPROP SEPTEMBER 25, 2017 DONE DEALS Parc Riviera fully sold in less than a year BY TAN CHEE YUEN Out of a total of 752 units at Parc Riviera condominium on West Coast Vale, 127 units were still unsold as at end-august, according to URA data. As of the weekend of Sept 16 to 17, all units had been issued with an option to purchase, says Lim Yew Soon, managing director of EL Development, the developer of Parc Riviera. This means the project is 100% sold. When Parc Riviera was first launched for sale in early November last year, EL Development introduced an innovative scheme one-tier pricing where the psf price is fixed for each unit type, regardless of whether the buyer purchased a unit on the first level or or on a higher level up to the 15th floor in the 36-storey tower. The one-tier pricing was offered for 278 units on the first day of launch. It attracted a lot of interest, both from potential buyers and other developers. Launched last November, all 752 units at Parc Riviera have been sold as at Sept 17 EL Development s Lim attributes the strong sales to the growth story at Jurong Lake District and the affordable pricing of Parc Riviera, where units average $1,221 psf. The developer also offered attractive incentives in the form of higher commissions to agents. Of course, agents incentives probably helped too, says Lim. Sales at Parc Riviera had also received a boost when China Construction paid $292 million, or $592 psf per plot ratio (psf ppr), for the neighbouring 99-year leasehold site in February. China Construction s bid was reportedly 7.4% higher than the $551 psf ppr paid by EL Development for the 99-year leasehold site next door, which is being redeveloped into Parc Riviera. Now that Parc Riviera is fully sold, EL Development is looking at clearing the remaining units at Symphony Suites. Launched in February 2015, SAMUEL ISAAC CHUA/THE EDGE SINGAPORE the 660-unit Symphony Suites is also a 99-year leasehold condo. It is located at Yishun Close. In August alone, 59 units at Symphony Suites were sold at a median price of $1,071 psf, according to URA data. Cumulative sales as at end-august was 545 units, which means the project is 82.6% sold. Based on caveats lodged, another 20 units were sold in September. Besides Symphony Suites, we will be actively looking for new development opportunities both locally and overseas, says Lim. Another project launched in early 2015 was Kingsford Waterbay on Upper Serangoon View. The 1,165- unit project by Chinese developer Kingsford Development has seen brisk sales in recent months. In July, 62 units were sold at a median price of $1,228 psf whereas in August, another 47 units were snapped up at a median price of $1,291 psf. In the first two weeks of September alone, 32 units were sold. To date, the project is about 76% sold, according to property agents. E LOCALITIES DISTRICTS Singapore by postal district City & Southwest 1 to 8 Orchard/Tanglin/Holland 9 and 10 Newton/Bukit Timah/Clementi 11 and 21 Balestier/MacPherson/Geylang 12 to 14 East Coast 15 and 16 Changi/Pasir Ris 17 and 18 Serangoon/Thomson 19 and 20 West 22 to 24 North 25 to 28 Residential transactions with contracts dated Sept 5 to 12 LAND AREA/ NETT UNIT FLOOR AREA TRANSACTED PRICE PRICE COMPLETION TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($) ($ PSF) DATE SALE District 1 PEOPLE S PARK COMPLEX Apartment 99 years Sept 06, 2017 1,119 880,000-786 1972 Resale THE CLIFT Apartment 99 years Sept 05, 2017 818 1,380,000-1,687 2011 Resale V ON SHENTON Apartment 99 years Sept 08, 2017 1,528 3,150,000-2,061 Uncompleted New Sale District 2 LUMIERE Apartment 99 years Sept 05, 2017 678 1,100,000-1,622 2010 Resale SKYSUITES@ANSON* Apartment 99 years Sept 05, 2017 366 927,420-2,534 2014 Resale SKYSUITES@ANSON Apartment 99 years Sept 05, 2017 366 930,900-2,544 2014 Resale SKYSUITES@ANSON Apartment 99 years Sept 05, 2017 366 926,000-2,530 2014 Resale District 3 ALEX RESIDENCES Apartment 99 years Sept 05, 2017 1,044 1,997,810-1,913 Uncompleted New Sale ALEX RESIDENCES Apartment 99 years Sept 05, 2017 1,023 1,920,000-1,878 Uncompleted New Sale ALEX RESIDENCES Apartment 99 years Sept 09, 2017 678 1,480,000-2,182 Uncompleted New Sale ALEX RESIDENCES Apartment 99 years Sept 10, 2017 657 1,342,000-2,044 Uncompleted New Sale ARTRA Apartment 99 years Sept 05, 2017 1,227 1,907,999-1,555 Uncompleted New Sale ARTRA Apartment 99 years Sept 09, 2017 829 1,526,999-1,842 Uncompleted New Sale ARTRA Apartment 99 years Sept 09, 2017 829 1,526,999-1,842 Uncompleted New Sale COMMONWEALTH TOWERS Condominium 99 years Sept 09, 2017 1,033 1,669,800-1,616 Uncompleted New Sale COMMONWEALTH TOWERS Condominium 99 years Sept 10, 2017 1,033 1,723,800-1,668 Uncompleted New Sale COMMONWEALTH TOWERS Condominium 99 years Sept 10, 2017 1,033 1,720,800-1,665 Uncompleted New Sale COMMONWEALTH TOWERS Condominium 99 years Sept 10, 2017 1,302 2,178,000-1,672 Uncompleted New Sale HIGHLINE RESIDENCES Condominium 99 years Sept 06, 2017 1,152 1,990,000-1,728 Uncompleted New Sale PRINCIPAL GARDEN Condominium 99 years Sept 10, 2017 495 892,000 887,000 1,791 Uncompleted New Sale PRINCIPAL GARDEN Condominium 99 years Sept 10, 2017 484 858,000 853,000 1,761 Uncompleted New Sale QUEENS PEAK Condominium 99 years Sept 07, 2017 495 875,500-1,768 Uncompleted New Sale QUEENS PEAK Condominium 99 years Sept 07, 2017 947 1,395,360-1,473 Uncompleted New Sale QUEENS PEAK Condominium 99 years Sept 08, 2017 840 1,474,920-1,757 Uncompleted New Sale QUEENS PEAK Condominium 99 years Sept 08, 2017 495 925,000-1,868 Uncompleted New Sale THE CREST Condominium 99 years Sept 08, 2017 1,184 2,012,800-1,700 2017 Resale THE METROPOLITAN CONDOMINIUM Condominium 99 years Sept 07, 2017 1,399 1,740,000-1,243 2009 Resale THE METROPOLITAN CONDOMINIUM Condominium 99 years Sept 11, 2017 1,399 1,710,000-1,222 2009 Resale District 4 CARIBBEAN AT KEPPEL BAY Condominium 99 years Sept 08, 2017 872 1,400,000-1,606 2004 Resale THE INTERLACE Condominium 99 years Sept 08, 2017 3,897 2,746,000-705 2013 Resale THE INTERLACE Condominium 99 years Sept 11, 2017 3,563 3,857,000-1,083 2013 Resale LAND AREA/ NETT UNIT FLOOR AREA TRANSACTED PRICE PRICE COMPLETION TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($) ($ PSF) DATE SALE THE OCEANFRONT @ SENTOSA COVE Condominium 99 years Sept 05, 2017 2,250 3,230,000-1,436 2010 Resale District 5 BOTANNIA Condominium 956 years Sept 05, 2017 1,561 1,830,000-1,172 2009 Resale DOVER PARKVIEW Condominium 99 years Sept 12, 2017 969 955,000-986 1997 Resale FABER CREST Condominium 99 years Sept 07, 2017 1,281 1,070,000-835 2001 Resale HUNDRED TREES Condominium 956 years Sept 11, 2017 1,475 1,830,000-1,241 2013 Resale KENTVIEW PARK Condominium Freehold Sept 08, 2017 1,346 1,518,000-1,128 1994 Resale PALM GREEN Apartment Freehold Sept 11, 2017 1,259 1,200,000-953 1999 Resale PARC RIVIERA* Condominium 99 years Sept 05, 2017 1,421 1,388,025-977 Uncompleted New Sale PARC RIVIERA Condominium 99 years Sept 05, 2017 710 948,235-1,335 Uncompleted New Sale PARC RIVIERA Condominium 99 years Sept 07, 2017 1,152 1,343,580-1,167 Uncompleted New Sale THE CLEMENT CANOPY* Apartment 99 years Sept 09, 2017 732 1,077,000-1,471 Uncompleted New Sale THE CLEMENT CANOPY Apartment 99 years Sept 10, 2017 1,109 1,478,000-1,333 Uncompleted New Sale THE CLEMENT CANOPY Apartment 99 years Sept 10, 2017 732 1,082,000-1,478 Uncompleted New Sale THE PEAK@BALMEG Condominium Freehold Sept 05, 2017 1,507 1,888,000-1,253 2011 Resale THE ROCHESTER Apartment 99 years Sept 08, 2017 1,216 1,700,000-1,398 2011 Resale VISTA PARK Condominium 99 years Sept 07, 2017 732 685,000-936 1985 Resale District 7 CONCOURSE SKYLINE Apartment 99 years Sept 08, 2017 786 1,285,000-1,635 2014 Resale District 8 STURDEE RESIDENCES Condominium 99 years Sept 05, 2017 947 1,325,800-1,400 Uncompleted New Sale STURDEE RESIDENCES Condominium 99 years Sept 05, 2017 947 1,332,800-1,407 Uncompleted New Sale District 9 BELLE VUE RESIDENCES Condominium Freehold Sept 06, 2017 2,303 4,500,000-1,954 2010 Resale BELLE VUE RESIDENCES Condominium Freehold Sept 12, 2017 2,443 4,153,100-1,700 2010 Resale CAIRNHILL CREST Condominium Freehold Sept 12, 2017 1,733 3,260,000-1,881 2004 Resale CAIRNHILL RESIDENCES Apartment Freehold Sept 07, 2017 1,173 2,617,800-2,231 2009 Resale ELIZABETH HEIGHTS Condominium Freehold Sept 06, 2017 2,530 3,800,000-1,502 1983 Resale EMERALD HILL CONSERVATION AREA Apartment Freehold Sept 05, 2017 1,173 1,880,000-1,602 Unknown Resale ESTILO Apartment Freehold Sept 07, 2017 517 830,000-1,606 2010 Resale HORIZON TOWERS Condominium 99 years Sept 11, 2017 2,303 2,368,888-1,028 1984 Resale MARTIN MODERN Condominium 99 years Sept 06, 2017 764 1,781,328-2,331 Uncompleted New Sale OLEANAS RESIDENCE Condominium Freehold Sept 05, 2017 1,238 1,928,000-1,558 1999 Resale ONE DEVONSHIRE Condominium Freehold Sept 05, 2017 1,292 3,150,000-2,439 2011 Resale ORCHARD COURT Apartment 99 years Sept 12, 2017 1,453 1,505,000-1,036 Unknown Resale SCOTTS 28 Condominium Freehold Sept 06, 2017 2,034 4,200,000-2,064 1998 Resale SCOTTS HIGHPARK Condominium Freehold Sept 06, 2017 3,466 6,300,000-1,818 2009 Resale SKYPARK Apartment Freehold Sept 05, 2017 700 1,100,000-1,572 2010 Resale SOPHIA HILLS* Condominium 99 years Sept 07, 2017 710 1,425,000-2,006 Uncompleted New Sale SOPHIA HILLS Condominium 99 years Sept 07, 2017 721 1,443,000-2,001 Uncompleted New Sale SOPHIA HILLS Condominium 99 years Sept 09, 2017 700 1,402,000-2,004 Uncompleted New Sale THE CLAYMORE Condominium Freehold Sept 11, 2017 2,680 6,800,000-2,537 1985 Resale THE TRILLIUM Condominium Freehold Sept 12, 2017 1,399 2,500,000-1,787 2010 Resale VISIONCREST Apartment Freehold Sept 06, 2017 1,141 2,250,000-1,972 2007 Resale YONG AN PARK Condominium Freehold Sept 08, 2017 3,111 4,950,000-1,591 1986 Resale District 10 ARDMORE PARK Condominium Freehold Sept 08, 2017 2,885 9,200,000-3,189 2001 Resale BALMORAL HILLS Condominium Freehold Sept 08, 2017 1,841 3,500,000-1,902 2008 Resale BELMOND GREEN Condominium Freehold Sept 08, 2017 1,055 1,850,000-1,754 2004 Resale D LEEDON Condominium 99 years Sept 06, 2017 4,112 5,860,000-1,425 2014 Resale FERNHILL COTTAGE Terrace Freehold Sept 07, 2017 1,787 2,830,000-1,584 2001 Resale FERRELL RESIDENCES Apartment Freehold Sept 11, 2017 1,841 3,050,000-1,657 2012 Resale GOODWOOD GRAND Apartment Freehold Sept 10, 2017 1,044 2,571,000-2,462 2017 New Sale GRAMERCY PARK Condominium Freehold Sept 06, 2017 2,207 6,206,400-2,813 2016 Resale GRAMERCY PARK Condominium Freehold Sept 11, 2017 2,594 6,900,800-2,660 2016 Resale GRAMERCY PARK Condominium Freehold Sept 11, 2017 2,626 7,023,000-2,674 2016 Resale GRAMERCY PARK Condominium Freehold Sept 11, 2017 2,691 7,260,800-2,698 2016 Resale HOLLAND PEAK Condominium Freehold Sept 07, 2017 1,313 1,725,000-1,314 1994 Resale JERVOIS JADE APARTMENTS Apartment 99 years Sept 12, 2017 1,141 1,180,000-1,034 2000 Resale LEEDON RESIDENCE Condominium Freehold Sept 05, 2017 4,704 9,200,000-1,956 2015 Resale LOFT @ NATHAN Apartment Freehold Sept 06, 2017 538 980,000-1,821 2014 Resale JALAN HAJI ALIAS Semi-Detached Freehold Sept 12, 2017 3,638 4,950,000-1,362 1989 Resale ONE BALMORAL Condominium Freehold Sept 06, 2017 969 2,171,000-2,241 2016 Resale ONE JERVOIS Condominium Freehold Sept 12, 2017 1,292 2,100,000-1,626 2009 Resale RV RESIDENCES Condominium 999 years Sept 08, 2017 700 1,381,600-1,975 2015 Resale TANGLIN RESIDENCES Condominium Freehold Sept 06, 2017 2,131 3,900,000-1,830 2005 Resale THE ASANA Apartment Freehold Sept 09, 2017 570 1,511,000-2,649 Uncompleted New Sale THE DRAYCOTT Apartment Freehold Sept 07, 2017 2,637 4,300,000-1,631 1980 Resale THE MERCURY Apartment Freehold Sept 08, 2017 635 1,080,000-1,701 2012 Resale THE TENERIFFE Terrace 99 years Sept 08, 2017 3,175 2,750,000-866 2003 Resale

EDGEPROP SEPTEMBER 25, 2017 EP11 DONE DEALS Residential transactions with contracts dated Sept 5 to 12 LAND AREA/ NETT UNIT FLOOR AREA TRANSACTED PRICE PRICE COMPLETION TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($) ($ PSF) DATE SALE VICTORIA PARK VILLAS Semi-Detached 99 years Sept 06, 2017 2,164 4,670,000-2,158 Uncompleted New Sale VIZ AT HOLLAND Condominium Freehold Sept 05, 2017 818 1,280,000-1,565 2008 Resale District 11 CUBE 8 Condominium Freehold Sept 08, 2017 926 1,270,000-1,372 2013 Resale GOLDHILL TOWERS Apartment Freehold Sept 05, 2017 1,550 2,200,000-1,419 1989 Resale MONTCLAIR @ WHITLEY Semi-Detached Freehold Sept 08, 2017 4,187 2,900,000-693 2011 Resale HILLCREST ROAD Semi-Detached Freehold Sept 05, 2017 3,315 5,600,000-1,687 Unknown Resale TREVOSE CRESCENT Semi-Detached Freehold Sept 11, 2017 7,718 11,500,000-1,491 Unknown Resale NOVELIS Apartment Freehold Sept 11, 2017 527 980,000-1,858 2008 Resale NOVELIS Apartment Freehold Sept 11, 2017 807 1,320,000-1,635 2008 Resale THOMSON EURO-ASIA Condominium Freehold Sept 08, 2017 1,130 1,880,000-1,663 2002 Resale TREVOSE PARK Condominium Freehold Sept 07, 2017 2,196 3,378,000-1,538 1991 Resale District 12 BOON TECK TOWER Condominium Freehold Sept 08, 2017 1,722 1,603,800-931 1984 Resale CALARASI Apartment Freehold Sept 06, 2017 1,206 1,214,000-1,007 2004 Resale GEM RESIDENCES* Condominium 99 years Sept 05, 2017 678 1,118,000-1,649 Uncompleted New Sale GEM RESIDENCES Condominium 99 years Sept 05, 2017 1,249 1,854,000-1,485 Uncompleted New Sale GEM RESIDENCES Condominium 99 years Sept 06, 2017 947 1,407,000-1,485 Uncompleted New Sale OKIO Apartment Freehold Sept 07, 2017 592 888,000-1,500 2015 Resale ST MICHAEL S CONDOMINIUM Apartment Freehold Sept 08, 2017 1,507 1,188,888-789 2002 Resale ST MICHAEL S PLACE Apartment Freehold Sept 12, 2017 1,227 1,200,000-978 1997 Resale District 13 WAN THO AVENUE Terrace Freehold Sept 05, 2017 3,778 2,650,000-702 1955 Resale NIN RESIDENCE Apartment 99 years Sept 11, 2017 1,281 1,480,000-1,155 2014 Resale ONE LEICESTER Condominium Freehold Sept 05, 2017 1,055 1,288,888-1,222 2008 Resale R MAISON Apartment Freehold Sept 08, 2017 700 915,600-1,309 2016 Resale R MAISON Apartment Freehold Sept 11, 2017 667 890,000-1,334 2016 Resale THE POIZ RESIDENCES Apartment 99 years Sept 05, 2017 1,528 1,975,000-1,292 Uncompleted New Sale THE POIZ RESIDENCES Apartment 99 years Sept 07, 2017 1,625 1,677,000-1,032 Uncompleted New Sale THE POIZ RESIDENCES Apartment 99 years Sept 09, 2017 1,507 2,013,650-1,336 Uncompleted New Sale District 14 ASTOR Apartment 99 years Sept 06, 2017 1,119 828,000-740 2006 Resale CENTRA HEIGHTS Apartment Freehold Sept 08, 2017 431 657,000-1,526 2014 Resale COSMO Apartment Freehold Sept 06, 2017 667 865,000-1,296 2010 Resale SIMS URBAN OASIS Condominium 99 years Sept 06, 2017 1,023 1,386,300-1,356 Uncompleted New Sale SIMS URBAN OASIS Condominium 99 years Sept 07, 2017 958 1,380,300-1,441 Uncompleted New Sale SIMS URBAN OASIS Condominium 99 years Sept 09, 2017 667 994,600-1,490 Uncompleted New Sale SIMS URBAN OASIS Condominium 99 years Sept 09, 2017 1,023 1,413,400-1,382 Uncompleted New Sale SIMS URBAN OASIS Condominium 99 years Sept 10, 2017 1,033 1,543,900-1,494 Uncompleted New Sale TRE RESIDENCES Condominium 99 years Sept 06, 2017 861 1,260,000-1,463 Uncompleted New Sale TRE RESIDENCES Condominium 99 years Sept 07, 2017 947 1,215,000-1,283 Uncompleted New Sale TRE RESIDENCES Condominium 99 years Sept 07, 2017 764 1,139,000-1,490 Uncompleted New Sale TRE RESIDENCES Condominium 99 years Sept 08, 2017 861 1,302,000-1,512 Uncompleted New Sale District 15 COTE D AZUR Condominium 99 years Sept 07, 2017 1,539 1,780,000-1,156 2004 Resale EASTERN LAGOON Condominium Freehold Sept 12, 2017 721 888,000-1,231 1985 Resale ESTIQUE Apartment Freehold Sept 07, 2017 1,302 1,400,000-1,075 2008 Resale FRANKEL ESTATE Semi-Detached Freehold Sept 06, 2017 2,605 3,800,000-1,458 1996 Resale FRANKEL ESTATE Detached Freehold Sept 08, 2017 11,108 10,800,000-972 1957 Resale GOLDLEAF GARDENS Terrace Freehold Sept 11, 2017 1,615 2,650,000-1,641 1991 Resale IMPERIAL HEIGHTS Apartment Freehold Sept 05, 2017 1,033 1,400,000-1,355 2009 Resale IMPERIAL HEIGHTS Apartment Freehold Sept 12, 2017 452 610,000-1,349 2009 Resale LEVILLE ISUITES Apartment Freehold Sept 08, 2017 1,173 1,490,000-1,270 2015 Resale MANDARIN GARDENS Condominium 99 years Sept 05, 2017 2,024 1,725,000-852 1986 Resale ONE AMBER Condominium Freehold Sept 11, 2017 958 1,500,000-1,566 2010 Resale PARC ELEGANCE Apartment Freehold Sept 06, 2017 506 600,000-1,186 2013 Resale PARK EAST Condominium Freehold Sept 06, 2017 1,292 1,560,000-1,208 1994 Resale PEBBLE BAY Condominium 99 years Sept 12, 2017 2,809 4,650,000-1,655 1997 Resale SANCTUARY GREEN Condominium 99 years Sept 05, 2017 1,572 1,530,000-974 2004 Resale SEASIDE RESIDENCES Apartment 99 years Sept 09, 2017 807 1,216,000-1,506 Uncompleted New Sale SEASIDE RESIDENCES Apartment 99 years Sept 09, 2017 1,023 1,608,000-1,572 Uncompleted New Sale SEASIDE RESIDENCES Apartment 99 years Sept 10, 2017 1,087 1,901,000-1,749 Uncompleted New Sale SUITES @ AMBER Apartment Freehold Sept 11, 2017 635 930,000-1,464 2010 Resale SUNNYVALE RESIDENCES Apartment Freehold Sept 07, 2017 1,216 1,872,000-1,539 2017 New Sale SUNSHINE REGENCY Apartment Freehold Sept 06, 2017 893 1,000,000-1,119 2007 Resale THE ESTA Condominium Freehold Sept 11, 2017 1,346 2,050,000-1,524 2008 Resale THE HACIENDA Condominium Freehold Sept 06, 2017 1,561 1,580,000-1,012 1985 Resale THE MEYERISE Condominium Freehold Sept 08, 2017 1,281 2,850,000-2,225 2014 Resale THE MEYERISE Condominium Freehold Sept 08, 2017 1,281 2,924,000-2,283 2014 Resale THE PALLADIUM Apartment Freehold Sept 07, 2017 872 1,100,000-1,262 2002 Resale THE SEAWIND Condominium Freehold Sept 05, 2017 657 1,080,000-1,645 2015 Resale WATER PLACE Condominium 99 years Sept 12, 2017 1,561 2,020,000-1,294 2004 Resale District 16 AQUARIUS BY THE PARK Condominium 99 years Sept 05, 2017 1,539 1,180,000-767 2001 Resale BEDOK COURT Condominium 99 years Sept 12, 2017 1,733 1,168,000-674 1985 Resale BEDOK COURT Condominium 99 years Sept 12, 2017 1,173 838,000-714 1985 Resale BEDOK RESIDENCES Apartment 99 years Sept 11, 2017 527 835,000-1,583 2015 Resale BEDOK RESIDENCES Apartment 99 years Sept 12, 2017 603 935,000-1,551 2015 Resale BEDOKVILLE Semi-Detached 999 years Sept 06, 2017 3,488 3,120,000-895 Unknown Resale CASAFINA Condominium 99 years Sept 05, 2017 1,184 900,000-760 1999 Resale CHANGI COURT Condominium Freehold Sept 11, 2017 840 810,000-965 1997 Resale EAST MEADOWS Condominium 99 years Sept 12, 2017 1,238 1,020,000-824 2001 Resale EASTERN GROVE Terrace 999 years Sept 07, 2017 2,400 2,600,000-1,083 1982 Resale ECO Condominium 99 years Sept 08, 2017 592 770,000-1,301 2017 Sub Sale GRANDEUR PARK RESIDENCES Condominium 99 years Sept 05, 2017 1,453 1,917,000-1,319 Uncompleted New Sale GRANDEUR PARK RESIDENCES Condominium 99 years Sept 08, 2017 969 1,269,000-1,310 Uncompleted New Sale KEW VALE Terrace 99 years Sept 06, 2017 1,711 1,700,000-996 1995 Resale LAGUNA 88 Condominium 99 years Sept 07, 2017 1,206 1,050,000-871 2000 Resale TANAMERA CREST Condominium 99 years Sept 06, 2017 1,173 926,000-789 2004 Resale THE CLEARWATER Condominium 99 years Sept 06, 2017 1,001 880,000-879 2001 Resale THE GLADES Condominium 99 years Sept 09, 2017 1,378 1,766,160-1,282 2016 New Sale District 17 LOYANG VALLEY Condominium 99 years Sept 06, 2017 1,421 850,000-598 1985 Resale PARC OLYMPIA Condominium 99 years Sept 08, 2017 495 530,000-1,070 2015 Resale PARC OLYMPIA Condominium 99 years Sept 12, 2017 1,647 1,430,000-868 2015 Resale District 18 CHANGI RISE CONDOMINIUM Condominium 99 years Sept 08, 2017 1,259 960,000-762 2004 Resale COCO PALMS Condominium 99 years Sept 06, 2017 1,744 1,824,930-1,047 Uncompleted New Sale COCO PALMS Condominium 99 years Sept 09, 2017 1,259 1,387,680-1,102 Uncompleted New Sale D NEST Condominium 99 years Sept 06, 2017 753 840,000-1,115 Uncompleted Sub Sale D NEST Condominium 99 years Sept 06, 2017 775 600,000-774 Uncompleted Sub Sale EASTVALE EC 99 years Sept 06, 2017 1,098 825,000-751 1999 Resale ELIAS GREEN Condominium 99 years Sept 06, 2017 1,528 818,000-535 1994 Resale NV RESIDENCES Condominium 99 years Sept 07, 2017 1,270 1,120,000-882 2013 Resale OASIS @ ELIAS Condominium 99 years Sept 06, 2017 1,281 900,000-703 2011 Resale Q BAY RESIDENCES Condominium 99 years Sept 07, 2017 517 665,000-1,287 2016 Resale RIS GRANDEUR Condominium Freehold Sept 05, 2017 1,356 1,190,000-877 2005 Resale SAVANNAH CONDOPARK Condominium 99 years Sept 12, 2017 2,303 1,280,000-556 2005 Resale SEA ESTA Condominium 99 years Sept 06, 2017 904 910,000-1,006 2015 Resale THE ALPS RESIDENCES Condominium 99 years Sept 05, 2017 1,066 1,158,000-1,087 Uncompleted New Sale THE ALPS RESIDENCES Condominium 99 years Sept 05, 2017 689 793,000-1,151 Uncompleted New Sale THE ALPS RESIDENCES Condominium 99 years Sept 07, 2017 689 715,000-1,038 Uncompleted New Sale THE ALPS RESIDENCES Condominium 99 years Sept 08, 2017 689 695,000-1,009 Uncompleted New Sale THE ALPS RESIDENCES Condominium 99 years Sept 10, 2017 1,410 1,430,000-1,014 Uncompleted New Sale THE EDEN AT TAMPINES EC 99 years Sept 05, 2017 1,539 988,000-642 2003 Resale THE SANTORINI Condominium 99 years Sept 07, 2017 1,152 1,142,000-992 2017 New Sale THE TROPICA Condominium 99 years Sept 12, 2017 1,238 940,000-759 2000 Resale District 19 8 EDEN GROVE Apartment Freehold Sept 05, 2017 1,119 1,180,000-1,054 1999 Resale A TREASURE TROVE Condominium 99 years Sept 07, 2017 1,206 1,110,000-921 2015 Resale AUSTVILLE RESIDENCES EC 99 years Sept 11, 2017 1,033 808,000-782 2014 Resale LAND AREA/ NETT UNIT FLOOR AREA TRANSACTED PRICE PRICE COMPLETION TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($) ($ PSF) DATE SALE BARTLEY RESIDENCES Apartment 99 years Sept 05, 2017 463 700,000-1,512 2015 Resale COMPASS HEIGHTS Apartment 99 years Sept 05, 2017 1,324 1,000,000-755 2002 Resale FLO RESIDENCE Condominium 99 years Sept 06, 2017 764 731,000-957 2016 Resale FLO RESIDENCE Condominium 99 years Sept 08, 2017 861 780,000-906 2016 Resale KINGSFORD WATERBAY* Apartment 99 years Sept 05, 2017 1,109 1,200,000-1,082 Uncompleted New Sale KINGSFORD WATERBAY Apartment 99 years Sept 05, 2017 1,249 1,398,105-1,120 Uncompleted New Sale KINGSFORD WATERBAY Apartment 99 years Sept 05, 2017 678 911,154-1,344 Uncompleted New Sale KOVAN RESIDENCES Condominium 99 years Sept 08, 2017 1,442 1,525,000-1,057 2011 Resale PALM HAVEN Condominium 999 years Sept 11, 2017 2,131 1,390,000-652 2002 Resale PARC VERA Condominium 99 years Sept 11, 2017 1,410 1,350,000-957 2014 Resale RIO VISTA Condominium 99 years Sept 11, 2017 1,249 930,000-745 2004 Resale SERANGOON GARDEN ESTATE Terrace 999 years Sept 05, 2017 1,841 1,880,000-1,022 Unknown Resale SERANGOON GARDEN ESTATE Terrace 999 years Sept 08, 2017 2,594 2,750,000-1,059 Unknown Resale SERANGOON GARDEN ESTATE Terrace 999 years Sept 11, 2017 2,691 2,730,000-1,015 Unknown Resale STARS OF KOVAN Apartment 99 years Sept 07, 2017 990 1,350,000-1,363 Uncompleted New Sale STARS OF KOVAN Apartment 99 years Sept 09, 2017 753 1,103,000-1,464 Uncompleted New Sale STARS OF KOVAN Apartment 99 years Sept 10, 2017 743 1,118,860-1,506 Uncompleted New Sale SUITES @ KOVAN Apartment Freehold Sept 07, 2017 366 550,000-1,503 2010 Resale TAI KENG VILLAS Terrace 99 years Sept 06, 2017 1,755 1,608,000-917 1999 Resale TERRASSE Condominium 99 years Sept 08, 2017 538 680,000-1,263 2014 Resale THE SCALA Apartment 99 years Sept 08, 2017 1,367 1,650,000-1,207 2013 Resale THE SUNNYDALE Condominium 99 years Sept 07, 2017 1,421 1,300,000-915 2001 Resale District 20 ADANA @ THOMSON Apartment Freehold Sept 06, 2017 560 928,100-1,658 Uncompleted New Sale ADANA @ THOMSON Apartment Freehold Sept 06, 2017 872 1,420,100-1,629 Uncompleted New Sale BISHAN 8 Condominium 99 years Sept 06, 2017 1,163 1,300,000-1,118 1999 Resale FABER GARDEN Semi-Detached Freehold Sept 08, 2017 2,809 3,460,000-1,234 Unknown Resale HAPPY ESTATE Semi-Detached Freehold Sept 11, 2017 3,940 3,800,000-965 1984 Resale HORIZON GREEN Terrace 99 years Sept 08, 2017 3,111 1,850,000-595 2003 Resale SKY HABITAT Condominium 99 years Sept 07, 2017 1,798 2,417,500-1,345 2015 Resale SKY HABITAT Condominium 99 years Sept 12, 2017 1,711 2,515,300-1,470 2015 Resale THOMSON IMPRESSIONS Apartment 99 years Sept 06, 2017 463 808,700-1,747 Uncompleted New Sale THOMSON IMPRESSIONS Apartment 99 years Sept 09, 2017 463 804,700-1,739 Uncompleted New Sale District 21 BEAUTY WORLD CENTRE Apartment 99 years Sept 11, 2017 1,873 1,450,000-774 Unknown Resale FLORIDIAN Condominium Freehold Sept 06, 2017 969 1,460,000-1,507 2012 Resale FLORIDIAN Condominium Freehold Sept 06, 2017 1,658 2,600,000-1,568 2012 Resale HILLVIEW GREEN Condominium 999 years Sept 12, 2017 1,324 1,260,000-952 1998 Resale SUNSET GROVE Detached Freehold Sept 11, 2017 7,244 8,700,000-1,201 Unknown Resale PARC PALAIS Condominium Freehold Sept 07, 2017 1,528 1,530,000-1,001 1999 Resale PINE GROVE Condominium 99 years Sept 07, 2017 1,776 1,550,000-873 Unknown Resale SOUTHAVEN II Condominium 999 years Sept 06, 2017 1,722 1,608,000-934 1999 Resale SOUTHAVEN II Condominium 999 years Sept 08, 2017 1,453 1,500,000-1,032 1999 Resale SPRINGDALE CONDOMINIUM Condominium 999 years Sept 11, 2017 926 1,030,000-1,113 1998 Resale SYMPHONY HEIGHTS Condominium Freehold Sept 05, 2017 990 1,035,000-1,045 1998 Resale THE CREEK @ BUKIT Condominium Freehold Sept 08, 2017 474 888,081-1,875 Uncompleted New Sale THE RAINTREE Condominium 99 years Sept 11, 2017 1,270 1,280,000-1,008 2008 Resale THE STERLING Condominium Freehold Sept 05, 2017 1,604 2,100,000-1,309 2000 Resale District 22 LAKEHOLMZ Condominium 99 years Sept 07, 2017 1,033 880,000-852 2005 Resale THE CENTRIS Apartment 99 years Sept 07, 2017 1,292 1,350,000-1,045 2009 Resale THE MAYFAIR Condominium 99 years Sept 05, 2017 1,227 1,055,000-860 2000 Resale WESTVILLE Semi-Detached 99 years Sept 08, 2017 2,153 1,570,000-729 1997 Resale District 23 HILLBROOKS Condominium Freehold Sept 11, 2017 1,507 1,300,000-863 1999 Resale HILLION RESIDENCES Apartment 99 years Sept 07, 2017 474 750,000-1,584 Uncompleted New Sale HILLSTA Condominium 99 years Sept 11, 2017 570 598,000-1,048 2016 Resale HILLVIEW HEIGHTS Condominium Freehold Sept 11, 2017 958 1,050,000-1,096 1996 Resale HILLVIEW PARK Condominium Freehold Sept 05, 2017 1,227 1,115,000-909 1995 Resale INZ RESIDENCE* EC 99 years Sept 05, 2017 990 815,000-823 Uncompleted New Sale INZ RESIDENCE EC 99 years Sept 05, 2017 1,141 918,000-805 Uncompleted New Sale INZ RESIDENCE EC 99 years Sept 08, 2017 990 789,000-797 Uncompleted New Sale REGENT GROVE Condominium 99 years Sept 05, 2017 1,173 810,000-690 2000 Resale REGENT HEIGHTS Condominium 99 years Sept 06, 2017 1,496 900,000-602 1999 Resale SOL ACRES EC 99 years Sept 05, 2017 1,044 834,000-799 Uncompleted New Sale THE HILLOFT Semi-Detached 999 years Sept 07, 2017 4,919 2,480,000-504 2011 Resale YEW MEI GREEN EC 99 years Sept 05, 2017 1,335 930,088-697 2000 Resale District 25 NORTHWAVE* EC 99 years Sept 05, 2017 990 795,400-803 Uncompleted New Sale NORTHWAVE EC 99 years Sept 05, 2017 980 761,400-777 Uncompleted New Sale NORTHWAVE EC 99 years Sept 06, 2017 1,119 869,200-776 Uncompleted New Sale PARC ROSEWOOD Condominium 99 years Sept 06, 2017 506 533,000-1,054 2014 Resale PARC ROSEWOOD Condominium 99 years Sept 07, 2017 603 640,000-1,062 2014 Resale ROSEWOOD Condominium 99 years Sept 11, 2017 1,173 830,000-707 2003 Resale THE WOODGROVE Apartment 99 years Sept 11, 2017 872 650,000-746 1998 Resale District 26 BULLION PARK Condominium Freehold Sept 11, 2017 1,259 1,265,000-1,004 1993 Resale THE CALROSE Condominium Freehold Sept 12, 2017 1,421 1,710,000-1,204 2007 Resale THE SPRINGSIDE Terrace Freehold Sept 08, 2017 1,711 3,012,000-1,759 2016 Resale THE SPRINGSIDE Terrace Freehold Sept 11, 2017 1,776 2,820,000-1,586 2016 Resale District 27 CANBERRA RESIDENCES Condominium 99 years Sept 08, 2017 1,432 1,250,000-873 2013 Resale NORTH PARK RESIDENCES* Apartment 99 years Sept 05, 2017 732 998,200-1,364 Uncompleted New Sale NORTH PARK RESIDENCES Apartment 99 years Sept 05, 2017 732 1,029,480-1,406 Uncompleted New Sale NORTH PARK RESIDENCES Apartment 99 years Sept 06, 2017 732 1,038,680-1,419 Uncompleted New Sale ORCHID PARK CONDOMINIUM Condominium 99 years Sept 05, 2017 1,152 795,000-690 1994 Resale PARC LIFE* EC 99 years Sept 06, 2017 764 643,860-842 Uncompleted New Sale PARC LIFE EC 99 years Sept 07, 2017 1,001 785,960-785 Uncompleted New Sale PARC LIFE EC 99 years Sept 08, 2017 1,001 812,420-812 Uncompleted New Sale SIGNATURE AT YISHUN EC 99 years Sept 05, 2017 1,076 870,705-809 2017 New Sale SIGNATURE AT YISHUN EC 99 years Sept 05, 2017 1,184 898,920-759 2017 New Sale SIGNATURE AT YISHUN EC 99 years Sept 06, 2017 1,184 930,105-786 2017 New Sale SIGNATURE AT YISHUN EC 99 years Sept 08, 2017 1,076 864,765-803 2017 New Sale SIGNATURE AT YISHUN EC 99 years Sept 09, 2017 1,098 819,225-746 2017 New Sale SYMPHONY SUITES* Condominium 99 years Sept 06, 2017 893 937,530-1,049 Uncompleted New Sale SYMPHONY SUITES Condominium 99 years Sept 06, 2017 1,023 1,018,000-996 Uncompleted New Sale SYMPHONY SUITES Condominium 99 years Sept 07, 2017 1,023 1,013,000-991 Uncompleted New Sale THE CRITERION* EC 99 years Sept 05, 2017 1,119 898,400-803 Uncompleted New Sale THE CRITERION EC 99 years Sept 07, 2017 1,023 767,200-750 Uncompleted New Sale THE CRITERION EC 99 years Sept 07, 2017 1,173 878,400-749 Uncompleted New Sale THE ESTUARY Condominium 99 years Sept 06, 2017 592 625,000-1,056 2013 Resale THE ESTUARY Condominium 99 years Sept 12, 2017 926 828,000-894 2013 Resale THE VISIONAIRE* EC 99 years Sept 05, 2017 980 825,000-842 Uncompleted New Sale THE VISIONAIRE EC 99 years Sept 06, 2017 980 813,000-830 Uncompleted New Sale THE VISIONAIRE EC 99 years Sept 07, 2017 850 726,000-854 Uncompleted New Sale District 28 BELGRAVIA VILLAS Terrace Freehold Sept 08, 2017 3,767 2,962,580-786 Uncompleted New Sale BELGRAVIA VILLAS Terrace Freehold Sept 08, 2017 3,584 2,842,700-793 Uncompleted New Sale BELGRAVIA VILLAS Terrace Freehold Sept 10, 2017 3,584 3,086,020-861 Uncompleted New Sale BELGRAVIA VILLAS Terrace Freehold Sept 10, 2017 3,584 3,002,970-838 Uncompleted New Sale MIMOSA PARK Condominium Freehold Sept 06, 2017 1,873 1,490,000-796 1979 Resale MIMOSA TERRACE Terrace Freehold Sept 08, 2017 2,282 2,550,000-1,119 2000 Resale NIM GARDENS Condominium Freehold Sept 08, 2017 1,830 1,588,000-868 1986 Resale SARACA VILLAS Terrace 99 years Sept 07, 2017 2,583 1,630,000-632 2002 Resale SELETAR PARK Semi-Detached 999 years Sept 05, 2017 4,327 4,028,000-932 1986 Resale Source: URA Realis. Updated Sept 19, 2017. *Not all the caveats lodged are reflected due to the sheer number of transactions in these projects **EC stands for executive condominium DISCLAIMER: 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.

EP12 EDGEPROP SEPTEMBER 25, 2017 GAINS AND LOSSES Three-bedder at The Claymore sold at $3.72 mil profit THE EDGE SINGAPORE BY ANGELA TEO At The Claymore, the seller of a 2,680 sq ft, three-bedroom unit raked in a $3.72 million profit (121%) on Sept 11. The unit was bought in May 1999 at $3.08 million ($1,149 psf) and sold at $6.8 million ($2,537 psf) to a Singaporean buyer, according to the caveat lodged with URA Realis. The profit works out to about 4% a year over a holding period of more than 18 years. This marks the highest profit achieved at The Claymore since June 2015, when a 3,348 sq ft, four-bedroom unit on the second floor was sold at a $5.2 million profit. In September 2009, a 2,680 sq ft unit was sold at a $562,000 (8%) loss. Since then, there have been 18 profitable transactions and one unprofitable deal. Profits ranged from $1.38 million for a 2,680 sq ft unit on the 17th floor to $7.25 million for a 4,919 sq ft unit on the 25th floor. The unprofitable transaction involved the sale of a 3,348 sq ft unit at a $300,000 loss on Aug 18. The unit was purchased for $9.5 million ($2,838 psf) in March 2010. Developed by Tokyo Land Corp and completed in 1985, The Claymore houses 146 large-sized units. Three- to five-bedroom apartments at The Claymore are between 2,680 and 4,919 sq ft. The Claymore sits on a 246,000 sq ft plot in the Draycott Drive-Ardmore Park neighbourhood, within walking distance of The Tanglin Club and Raffles Girls Secondary School. Some owners at The Claymore were said to have attempted a collective sale in February 2007 during the collective sale fever of 2006/07. However, they failed to achieve the required 80% consensus. The owners were reportedly looking at an asking price of $1.3 billion. Over at the Oxley-Orchard area, the seller of a 2,303 sq ft, four-bedroom unit at Belle Vue Residences incurred a $477,800 loss (10%) on Sept 6. This marks the highest loss between Sept 5 and 12, according to caveats lodged with URA Realis for non-landed properties. The third-floor unit was bought for about $4.98 million ($2,161 psf) in May 2010 and sold at about $4.5 million ($1,954 psf). This works out to an annualised loss of 1.3% over a holding period of 7.3 years. On Sept 12, a 2,443 sq ft ground-floor unit at Belle Vue Residences was sold at a $272,800 loss, or the third-highest among non-landed transactions between Sept 5 and 12. Since the completion of Belle Vue Residences in 2010, there have been 18 profitable and 11 unprofitable transactions. Profits ranged from $138,400 for a 2,067 sq ft unit on the second floor to about $3 million for a 2,260 sq ft unit on the ground floor. On the other hand, losses ranged from $6,900 for a 1,938 sq ft unit on the fourth floor to $1.37 million for a 2,239 sq ft unit on the third floor. Belle Vue Residences is a low-rise, freehold condominium that comprises nine 5-storey blocks with 176 units and 36 private lifts. The condo was designer Toyo Ito s first residential project in Asia, excluding Japan, according to developer Wing Tai Holdings. E On Sept 11, a 2,680 sq ft, three-bedroom unit at The Claymore was sold at a $3.72 million profit. Find the most affordable listing at the development at edgepr.link/theclaymore. Belle Vue Residences is a low-rise, freehold condominium in the Oxley-Orchard area. Find the most affordable listing in the project at edgepr.link/bellevueresidences. SAMUEL ISAAC CHUA/THE EDGE SINGAPORE Top 10 gains and losses from Sept 5 to 12 Most profitable deals PROJECT DISTRICT AREA (SQ FT) SOLD ON (2017) SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) PROFIT ($) PROFIT (%) ANNUALISED PROFIT (%) HOLDING PERIOD (YEARS) 1 The Claymore 9 2,680 Sept 11 2,537 May 1, 1999 1,149 3,720,000 121 4 18.4 2 Ardmore Park 10 2,885 Sept 8 3,189 Dec 6, 1996 2,192 2,877,827 46 2 20.8 3 Pebble Bay 15 2,809 Sept 12 1,655 Sept 17, 2001 730 2,600,000 127 5 16.0 4 The Draycott 10 2,637 Sept 7 1,631 July 1, 2000 1,043 1,550,000 56 3 17.2 5 Tanglin Residences 10 2,131 Sept 6 1,830 Sept 19, 2005 1,314 1,100,000 35 3 12.0 6 Scotts 28 9 2,034 Sept 6 2,064 Dec 22, 2004 1,524 1,100,000 39 2 12.7 7 Balmoral Hills 10 1,841 Sept 8 1,902 Nov 13, 2006 1,380 959,420 38 3 10.8 8 Beauty World Centre 21 1,873 Sept 11 774 Oct 1, 2000 264 955,000 193 7 17.0 9 Orchard Court 9 1,453 Sept 12 1,036 Nov 11, 2005 413 905,000 151 8 11.8 10 Goldhill Towers 11 1,550 Sept 5 1,419 Oct 12, 1995 877 840,000 62 2 21.9 URA, EDGEPROP Non-profitable deals PROJECT DISTRICT AREA (SQ FT) SOLD ON (2017) SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) LOSS ($) LOSS (%) ANNUALISED LOSS (%) HOLDING PERIOD (YEARS) 1 Belle Vue Residences 9 2,303 Sept 6 1,954 May 25, 2010 2,161 477,800 10 1 7.3 2 Cairnhill Crest 9 1,733 Sept 12 1,881 Sept 13, 2010 2,077 340,000 9 1 7.0 3 Belle Vue Residences 9 2,443 Sept 12 1,700 Sept 18, 2009 1,811 272,800 6 1 8.0 4 One Jervois 10 1,292 Sept 12 1,626 Sept 19, 2012 1,769 185,000 8 2 5.0 5 D Nest 18 775 Sept 6 774 April 5, 2013 988 165,750 22 5 4.4 6 Astor 14 1,119 Sept 6 740 Aug 22, 2011 849 122,000 13 2 6.0 7 Kovan Residences 19 1,442 Sept 8 1,057 Aug 4, 2011 1,123 95,000 6 1 6.1 8 Rio Vista 19 1,249 Sept 11 745 Aug 31, 2012 817 90,000 9 2 5.0 9 The Rochester 5 1,216 Sept 8 1,398 Aug 20, 2007 1,456 70,496 4 0.4 10.1 10 Suites @ Amber 15 635 Sept 11 1,464 Nov 28, 2011 1,567 65,000 7 1 5.8 Note: Computed based on URA caveat data as at Sept 19 for private non-landed houses transacted between Sept 5 and 12. The profit-and-loss computation excludes transactions cost such as stamp duties.

EDGEPROP SEPTEMBER 25, 2017 EP13 DEAL WATCH SAMUEL ISAAC CHUA/THE EDGE SINGAPORE Two-bedroom unit at Cyan for sale at $2,045 psf Recent transactions at Cyan CONTRACT DATE AREA (SQ FT) PRICE ($) PRICE ($ PSF) Aug 28, 2017 1,076 2,130,000 1,979 July 18, 2017 657 1,298,000 1,977 June 19, 2017 1,066 2,300,000 2,158 June 15, 2017 1,001 2,020,000 2,018 June 5, 2017 1,130 2,269,000 2,008 June 5, 2017 657 1,200,000 1,828 May 19, 2017 1,130 2,200,000 1,947 May 15, 2017 1,001 2,000,000 1,998 May 3, 2017 657 1,270,000 1,934 April 6, 2017 1,475 2,850,000 1,933 Recent rental contracts for 1,000 to 1,100 sq ft units at Cyan LEASE DATE MONTHLY RENT (2017) $ $ PSF August 4,300 4.10 August 4,200 4.00 August 4,500 4.30 August 4,000 3.80 August 4,200 4.00 TABLES: URA, EDGEPROP Cyan is a freehold condominium located close to the Stevens MRT station BY TAN CHEE YUEN A 1,066 sq ft, two-bedroom unit at Cyan is on the market at $2.18 million ($2,045 psf). The south-facing unit is well maintained and looks new as the condo is only about three years old, says marketing agent Linda Yang, senior marketing director at ERA Realty Network. The owner is an Indonesian who is selling as he is returning to Indonesia, says Yang. The unit has been rented out at $4,500 a month until July 2018, which translates into a gross rental yield of about 2.5%, based on the asking price. Cyan is a freehold condominium on Keng Chin Road, off Bukit Timah Road, in prime District 10. Developed by Far East Organization, the project was completed in 2014. It comprises 278 units in two 24-storey towers. Schools within 1km of the development include Singapore Chinese Girls Primary School and Anglo-Chinese School (Primary). Cyan is located close to the Stevens MRT station, which will be an interchange for the Downtown Line and the upcoming Thomson-East Coast Line. So far this year, five 1,000 to 1,100 sq ft units at Cyan have been sold at between $1,973 and $2,158 psf. The latest transaction was the sale of a 1,076 sq ft unit that went for $2.13 million ($1,979 psf) on Aug 28. In June, a 1,066 sq ft unit on the 17th floor fetched $2.3 million ($2,158 psf). E

EP14 THEEDGE SINGAPORE SEPTEMBER 25, 2017

THEEDGE SINGAPORE SEPTEMBER 25, 2017 EP15