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 March 26, 2018 ISSUE 823-44 Property Picks Affordable properties with en bloc potential EP4&5 Done Deals Prices of new luxury condos in prime districts to hit $3,500 psf EP8 Gains and Losses First deal at St Regis Residences this year sees $2 mil loss EP10 Deal Watch Three-bedroom unit at Quinterra going for $2 mil EP11 ALBERT CHUA/THE EDGE SINGAPORE Inside a $29.8 mil GCB A Good Class Bungalow on Old Holland Road offers a glimpse of the lifestyle of the discreetly rich. The property is now on the market. Who are the potential buyers? See our Cover Story on Pages 6 and 7.
EP2 EDGEPROP MARCH 26, 2018 EN BLOC WATCH SRI SRI ET&CO EDITORIAL EDITOR Cecilia Chow HEAD OF RESEARCH Feily Sofi an DEPUTY EDITOR Lin Zhiqin WRITERS Angela Teo, Timothy Tay, Bong Xin Ying DIGITAL WRITER Fiona Ho COPY-EDITING DESK Elaine Lim, Evelyn Tung, Chew Ru Ju, Shanthi Murugiah PHOTO EDITOR Samuel Isaac Chua PHOTOGRAPHER Albert Chua EDITORIAL COORDINATOR Yen Tan DESIGN DESK Tan Siew Ching, Christine Ong, Monica Lim, Tun Mohd Zafi an Mohd Za abah ADVERTISING + MARKETING ADVERTISING SALES DIRECTOR, COMMERCIAL OPERATIONS Cowie Tan ASSOCIATE ACCOUNT DIRECTOR Diana Lim SENIOR ACCOUNT MANAGER Janice Zhu ACCOUNT MANAGERS James Chua, Bernard Wong SALES STRATEGIST Han YaoGuang CIRCULATION DIRECTOR Victor The EXECUTIVE Malliga Muthusamy, Ashikin Kader CORPORATE CHIEF EXECUTIVE OFFICER Bernard Tong PUBLISHER The Edge Property Pte Ltd 150 Cecil Street #13-00 Singapore 069543 Tel: (65) 6232 8688 Fax: (65) 6232 8620 Olina Lodge on the market for $220 mil On March 21, the freehold Olina Lodge (above, left) was launched for collective sale via tender, with SRI as the sole marketing agent. Olina Lodge has a land area of 84,289 sq ft and is up for sale at a reserve price of $220 million, or $1,631 psf per plot ratio (ppr). Owing to its high development baseline, there is potentially no development charge payable. According to SRI, the land rate could be slightly below $1,500 psf ppr if the developer chooses to build an additional 10% gross floor area (GFA) for balconies. This is Olina Lodge s third attempt at a collective sale. Situated at 15 Holland Hill in prime District 10, it is zoned residential under the 2014 Master Plan and has a 1.6 gross plot ratio (GPR). The redevelopment can be a 12-storey project with 128 units, assuming an average size of 1,000 sq ft each. The tender closes on April 19. Verdun House launched for sale at $60 mil SRI is marketing the 7,316 sq ft Verdun House (above, centre), which is making its maiden attempt at a collective sale. The price tag is $60 million, translating into $2,100 psf ppr. Located next to Mustafa Centre, Verdun House is zoned for commercial use. It is also located 400m from the Farrer Park MRT station. The existing mixed-use commercial development has four shops and 12 apartments. Verdun House boasts dual frontages on Verdun Road and Sam Leong Road. The new commercial development could have a GFA of 30,728 sq ft, which translates into around 50 units with an average size of 550 sq ft each. According to Andy Gan, head of investment sales at SRI, the required 80% consent was obtained in one sitting, immediately after their EGM. The owners are seeking clarification from the authorities on the property s development baseline. The tender for Verdun House closes on April 18. Freehold Joo Chiat commercial building for sale from $18 mil A freehold, four-storey-with-attic commercial building on Joo Chiat Road has been put up for sale by expression of interest (EOI), with a guide price of $18 million to $20 million, or $969 to $1,077 psf. The property has a site area of 4,686 sq ft and GFA of 18,571 sq ft. It is tenanted to a single company. The building comes with a lift and car-park space for nine vehicles. It has a 3.0 plot ratio under the 2014 Master Plan. Mary Sai, executive director of investment and capital markets at Knight Frank Singapore, who is handling the sale, says the asking price is reasonable. She points to a four-storey building at 381 Joo Chiat Road that was sold for $27 million, or $1,093 psf, earlier this month. The property on Joo Chiat Road is ideal for operations that require their own parking space, something not common in the Joo Chiat area, which is dominated by shophouses, and where parking is typically an issue, according to Sai. The EOI exercise closes on April 19. Freehold Peak Court launched for collective sale at $106 mil The freehold Peak Court condominium on Thomson Road, near Novena, has been put up for collective sale by tender at $106 million, according to Edmund Tie & Co (ET&Co), the sole marketing agent brokering the sale. All of the owners have consented to the sale. Peak Court comprises 20 maisonettes and sits on a 57,350 sq ft site. The asking price reflects a land rate of $1,398 psf ppr, or $1,342 psf, based on the maximum GFA, including 10% bonus balcony space. The site is zoned for residential use and has a GPR of 1.4 under the 2014 Master Plan. Located at a double-storey mixed landed residential enclave in prime District 11 (above, right), Peak Court is next to the Thomson Medical Centre and near prominent schools such as Anglo-Chinese School (Primary) and St Joseph s Institution Junior. Amenities nearby include malls such as United Square, Velocity and Square 2, which are linked to the Novena MRT station. The site can be redeveloped into a 106-unit boutique condo or five-storey serviced apartment, subject to approvals, says ET&Co. The tender closes on May 9. E PRINTER KHL Printing Co Pte Ltd 57 Loyang Drive Singapore 508968 Tel: (65) 6543 2222 Fax: (65) 6545 3333 PROPERTY BRIEFS 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. One Raffles Place to undergo asset enhancement from mid-2018 The six-storey retail component at One Raffles Place, which sits above the Raffles Place MRT station, will undergo asset enhancement works from mid- 2018. The revitalised mall will have a new tenant Amsterdam-based co-working space operator Spaces, which will occupy more than 35,000 sq ft across a few levels from early 2019. One Raffles Place is part of OUE Commercial REIT s portfolio. According to the REIT, the upgrades will drive the psf productivity of the 100,000 sq ft mall, while the inclusion of a co-working space will enhance vertical traffic. The mall will remain operational during the asset enhancement period, as works will be carried out in phases to minimise disruption to tenants and shoppers, says the REIT. One Raffles Place comprises two 62- and 38-storey Grade-A office towers with total net lettable area (NLA) of 760,000 sq ft and the six-storey One Raffles Place shopping centre. Holland Road GLS site sees four parties submitting multiple bids The tender for the Holland Road Government Land Sales (GLS) site closed on March 20 and attracted 15 bids, according to URA. Some developers submitted more than one bid through joint ventures (JVs) and consortiums. Although the final price is expected to exceed $1 billion, the site is highly contested, owing to the lack of sizeable integrated developments near transport nodes in the pipeline, says Christine Li, director of research at Cushman & Wakefield. The significant capital outlay and necessary experience to develop and manage the non-residential component contributed to the significant number of tie-ups, says Ong Teck Hui, national director of research and consultancy at JLL. Three JV partners teamed up and submitted two bids each. They were Lendlease and Pontiac Land; Perennial Real Estate Holdings and Qingjian Realty; as well as GuocoLand and Hong Leong Holdings subsidiaries, Intrepid Investments, Hong Realty and TID Pte Ltd. Far East Organization and its affiliated company joined forces with Sekisui House to submit three proposals. Joint-venture partners that submitted one bid each include City Developments, which partnered with RB Capital; Allgreen Properties (with Kerry Properties); and UOL (with sister company United Industrial Corp). Bidding together were CapitaLand and Hotel Properties Ltd; SingHaiyi Group and its controlling shareholder Haiyi Holdings; as well as Roxy-Pacific Holdings, Chip Eng Seng Corp and JBE Holdings. The Holland Road GLS site was launched for sale via the concept and price revenue tender system. The various concept proposals will be evaluated first and only successful proposals will subsequently be evaluated, based on the highest bid price. CapitaLand to manage mall at Oxley s The Peak in Phnom Penh On March 20, Singapore property giant CapitaLand, through its wholly-owned shopping mall business CapitaLand Retail, signed an agreement with Singapore-based developer Oxley Holdings to manage a mall (pictured) in Phnom Penh, Cambodia. The mall is the retail component of The Peak, an upcoming high-end, integrated development majority-owned by Oxley that it jointly developed with Cambodian real estate company Worldbridge Land. CapitaLand will oversee asset planning, pre- opening and retail management for the five-storey mall, which has a GFA excluding car park of about 420,000 sq ft, and NLA of about 260,000 sq ft. The mall is expected to commence operations in 2020. Located in Chamkarmon District in central Phnom Penh, The Peak is a freehold 55-storey project comprising an office tower, the country s first Shangri- La Hotel with 300 guest rooms, and two luxury residential towers with 1,014 apartment units that sit atop the mall. CAPITALAND Crown Group invites EOI for Eastlakes Live in Sydney On March 20, Crown Group unveiled Eastlakes Live, its new Eastlakes town centre development in Sydney. It will comprise residential apartments and a new restaurant and retail precinct. The A$1 billion Eastlakes Live is designed to be a fully integrated village with the convenience of being just 8km from Sydney s CBD, says Crown Group s director of sales Roy Marcellus. Eastlakes Live will be developed in two stages. Stage One will comprise 12 retail outlets and 134 luxury apartments, ranging from one-bedroom units to penthouses. Construction is slated for completion in 2020. Stage Two will comprise a mix of residential and retail components, completing the new town centre. Crown Group is currently accepting expressions of interest from prospective buyers and will begin sales of the 134 luxury apartments in the first stage of Eastlakes Live in June. Compiled by Bong Xin Ying, Timothy Tay and Angela Teo E
EDGEPROP MARCH 26, 2018 EP3 BROUGHT TO YOU BY MITSUBISHI ELECTRIC Property prices to rise 7% in 2018 BY ANGELA TEO Although market watchers have raised concerns that the collective sale momentum is slowing, Tan Hong Boon, regional director at JLL and a collective sale veteran, is confident that the current collective sale cycle will continue through 2018. If you look at historical trends, there are usually six to eight quarters of active land buying in each collective sale cycle, he says. Tan was one of the speakers at the EdgeProp 360 seminar held at Capital Tower on March 15. We are about five quarters into this cycle, which means there are three quarters to go, he adds (see chart). The seminar was attended by 250 participants and ended with a panel discussion with the three speakers Alice Tan, head of consultancy and research at Knight Frank Singapore, Feily Sofian, head of research at Edge- Prop Singapore, and JLL s Tan. The discussion was chaired by Boaz Boon, former head of research at CapitaLand, founder and principal of real estate and design thinking training company Thred and director at real estate advisory firm VestAsia. Active land buying in each collective sale cycle tends to last for six to eight quarters Value ($ mil) 14,000 Value ($ mil) 12,000 10,000 8,000 6,000 4,000 2,000 0 18 5 42 27 0 47 No of deals 21 3 5 914 51 78 More sites sold by private treaty As at March 19, there were 21 collective sale sites this year whose tenders closed. Of the 21, nine were sold at the close of tender, while one Brookvale Park was sold by private treaty after the close of tender. More than half of the sites (52%, or 11 sites) were unsold at the close of tender. However, they could be under negotiation for private treaty sale. In comparison, 32 out of 34 sites were sold at the close of tender in 2017. Owing to the sheer volume of collective sale sites entering the market, JLL s Tan expects more to be sold by private treaty after the close of tender. He attributes the shift from collective sale by tender to private treaty to the close of tenders for three residential Government Land Sales (GLS) sites on Handy Road, Chong Kuo Road and West Coast Vale on Jan 30. The hotly contested Handy Road site received 10 bids, while the Chong Kuo Road and West Coast Vale land parcels saw eight and six bids, respectively. The GLS programme is the preferred method of land acquisition, because it is a transparent process and developers can obtain the site fast, according to Tan. Even if collective sale tenders are launched at reasonable prices, developers tend to bid for GLS sites, and only when they fail to secure them do they consider collective sale sites, he says. Developers appetite for land remains Decreasing pipeline supply, however, suggests that the collective sale market still has legs, reckons Tan. There were 40,430 units in the pipeline between 2011 and 2012 the last peak in property prices. Meanwhile, there were 20,794 unsold units in the pipeline as at end-4q2017. These units would take two to three years to come onto the market. Therefore, developers are starting to see that there isn t enough stock to sell, says Tan. He expects total value of collective sales this year to surpass that in 2017. As at March 15, 140 projects were at various stages of the collective sale process, according to Tan. However, not all of them would be able to launch a tender, he reckons. There will still be many more sites coming on the market. You will still see more collective sales done and total quantum increasing, says Tan. But you may also hear of many failures because the asking price is too high. Some sites are taking the selling prices of 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 The latest quarterly EdgeProp 360 seminar on the residential and collective sale market drew 250 attendees 88 8 1 38 51 JLL, AS AT MARCH 13, 2018 No of deals 32 25 16 13 1 1 3 2018 YTD 100 90 80 70 60 50 40 30 20 10 0 From left: Boon, who chaired the panel discussion, Sofian, Knight Frank s Tan and JLL s Tan sites launched earlier as a benchmark and are asking for 10% to 20% more than the earlier transacted prices, which were already record prices. At some point, developers will not bite, says Tan, who expects land prices to become more stable this year. One site that Tan reckons will be difficult to secure a buyer is the 1,006-unit Mandarin Gardens off Marine Parade Road. Mandarin Gardens, marketed by C&H Properties, reportedly has an asking price of about $2.5 billion. PICTURES: ALBERT CHUA/THE EDGE SINGAPORE Future launches present opportunity Knight Frank s Alice Tan recommends that buyers enter the market before the expected rise in mortgage interest rates materialises in three to six months. Mortgage interest rates are ranging between 1.5% and 2.4% right now, depending on your package. If you are looking to buy properties and do re-financing, this is the time, she says. Meanwhile, EdgeProp s Sofian reckons that projects near the Handy Road, Woodleigh Lane and West Coast Vale GLS sites present investment opportunities for buyers looking at the high-end, city-fringe and mass-market segments, respectively. The Martin Place GLS site, which was launched last July as the 450-unit Martin Modern by developer GuocoLand, presents a notable case study. GuocoLand bought the 99-year leasehold site at River Valley for $595.1 million, or $1,239 psf per plot ratio (ppr) in June 2016. At the time, analysts expected the average selling price for the future Martin Modern to be $2,100 to $2,200 psf, as surrounding freehold developments, such as the 302-unit Martin Place Residences (completed in 2011) and the 545-unit Rivergate (completed in 2009), were transacting at less than $2,000 psf on average, notes Sofian. Martin Modern s selling price surpassed analyst s expectations; it was launched at above $2,200 psf on average. This drove up the transaction prices of developments in the vicinity. At Martin Place Residences, a 23rd-floor unit was sold in January 2018 for $2,111 psf, 7% higher than the price of a unit on the 27th level that fetched $1,971 psf in December 2016. Sofian expects a similar trend for the Handy Road, Woodleigh Lane and West Coast Vale sites. For developments near the Handy Road site, she recommends the freehold, 50-unit Nomu, designed by WOHA Architects and completed in 2009. While Nomu units are transacting at an average price of $2,035 psf, analysts expect the selling price for the new project on the 99-year leasehold Handy Road GLS site to be between $2,600 and $2,700 psf. Similarly, the GLS site at Woodleigh Lane that sits between the 179-unit Avon Park and the Woodleigh MRT station, was sold for $700.7 million, or $1,110 psf ppr, in July 2017. The new project will be launched as Parc Colonial. Analysts estimate the average selling price to be north of $1,800 psf. However, units at the nearby Blossoms@Woodleigh, a 240-unit, freehold development, have been transacting at $1,218 psf, presenting a value proposition, says Sofian. In the mass market, Sofian singles out West Coast Vale, where there has been a spate of GLS sites sold. Units at the GLS site on West Coast Vale that City Developments secured at end-january are expected to be sold at $1,500 psf. Meanwhile, the average asking price for units at the 520-unit Twin Vew, which is slated for launch in 1H2018, is expected to be between $1,200 and $1,300 psf. There are also freehold or 999-year leasehold developments in the area with resale units transacting at $1,000 to $1,200 psf, including the 315- unit The Infiniti and the 396-unit Hundred Trees, says Sofian. Redevelopments at Shunfu Ville and Eunosville could also be value propositions, according to Sofian. The land cost for Shunfu Ville, off Marymount Road, was $747 psf ppr, while Eunosville, which is adjacent to the Eunos MRT station, was sold at $909 psf ppr. Prices to rise further All three speakers were of the view that prices are likely rise further, owing to demand from collective sale beneficiaries, HDB flat owners seeking to upgrade, and positive market sentiment, among other factors. Buyers are expecting developers to raise prices, and developers have said they will, in the latest NUS-Redas Real Estate Sentiment Index, says Knight Frank s Tan. There is a match in buyers and sellers expectations. I think that means strong demand this year, she adds. However, she expects property prices to rise by 5% to 7% instead of the 10% to 20% suggested by equity analysts. Singaporeans are savvy, prudent buyers. In a Homebuyer s Sentiment Survey we did with EdgeProp late last year, respondents said prices would not go up by more than 5%. The survey has corresponded with actual buying behaviour, she says. E
EP4 EDGEPROP MARCH 26, 2018 PROPERTY PICKS Affordable properties with en bloc potential in Central Singapore PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE BY LIN ZHIQIN Hillcrest Arcadia (top) and The Arcadia are near Dunearn Court, which was sold en bloc to Roxy-Pacific Holdings for $36.3 million ($1,371 psf ppr) last October The average price across the 21,862 private non-landed residential property transactions in 2017 is $1,404 psf, according to URA caveat data as at March 21. This is a 3.6% y-o-y increase from $1,355 psf. Developers sold 9,733 new residential units at an average price of $1,510 psf in 2017, up 5.3% y-o-y. This year as at March 21, developers had sold 995 units at an average price of $1,649 psf, up 9.2% y-o-y. The uptrend in transacted prices notwithstanding, particularly at new projects, affordable properties priced below $1,000 psf can still be found in Singapore, but they are likely to be at older developments. EdgeProp identified 24 developments in the Central Region where there were at least three transactions below the $1,000 psf mark between 4Q2017 and March 21. Among them are several projects that have high collective sale potential, according to Edge- Prop s en bloc calculator. They are Sherwood Tower in Bukit Timah; Hillcrest Arcadia and The Arcadia on Arcadia Road, off Adam Road; Kentish Lodge on Rangoon Road; Townhouse Apartments, adjacent to Anglo-Chinese School (Junior); Bukit Regency in Upper Bukit Timah; SKT Mansions in Aljunied; and Pandan Valley, off Holland Road (see table). Sherwood Tower is a 269-unit apartment block within Bukit Timah Plaza. Residents enjoy direct lift access to the retail podium of the mixed-use development. In the most recent transaction, an 829 sq ft unit changed hands for $662,800 ($800 psf) on March 6. In February, a 1,830 sq ft unit and a 1,539 sq ft unit were sold for $1.1 million ($601 psf) and
EDGEPROP MARCH 26, 2018 EP5 PROPERTY PICKS In January, a 1,184 sq ft unit at Kentish Lodge changed hands at $950,000 ($802 psf), and a 1,216 sq ft unit fetched $1.17 million ($962 psf) $968,000 ($629 psf), respectively. About 300m from Bukit Timah Plaza is Mayfair Gardens, a 99-year leasehold condo completed in 1985. It was sold en bloc to Oxley Holdings last November for $311 million, or $1,244 psf per plot ratio (ppr). Each owner stands to receive a gross sale price of $1.7 million to $2.89 million, according to marketing agent Knight Frank. The 272-unit Hillcrest Arcadia and 164-unit The Arcadia are located on Arcadia Road, a heritage road where trees are preserved, in the established residential enclave bounded by Adam Road, Dunearn Road and Eng Neo Avenue. Both have 99-year tenures and were completed in 1980 and 1983, respectively. The most recent transaction at Hillcrest Arcadia was on Dec 28, 2017, when a 2,745 sq ft unit was sold for $2.05 million ($747 psf). In November, a 581 sq ft unit changed hands at $560,088 ($964 psf). In 2010, the residents of The Arcadia sought to top up its remaining lease of 66 years to a fresh 99 years, but the application was rejected by the Singapore Land Authority. The condo s design by local architect Chua Ka Seng was inspired by the Hanging Gardens of Babylon, and it was the first building in Singapore to feature vertical landscaping. Unit sizes in the development range from 3,466 sq ft to 7,503 sq ft. Six units at The Arcadia were sold at an average price of $874 psf last year, and the highest price achieved was $905 psf for a 3,735 sq ft unit. In January this year, a 3,714 sq ft unit fetched $3.7 million ($996 psf). The most recent transaction on March 2 saw a 3,735 sq ft going for $3.5 million ($937 psf). Hillcrest Arcadia and The Arcadia are near the 12-unit Dunearn Court, which was sold en bloc to Roxy-Pacific Holdings for $36.3 million ($1,371 psf ppr) last October. Each owner is expected to receive a gross sale proceeds of $2.91 million to $3.12 million upon completion of the sale, according to Knight Frank, which brokered the deal. Located about 400m from the Farrer Park MRT station, the 75-unit Kentish Lodge saw two transactions in January. A 1,184 sq ft unit changed hands at $950,000 ($802 psf), and a 1,216 sq ft unit fetched $1.17 million ($962 psf). Across the Central Expressway from Kentish Lodge is the Moulmein/Novena area, where collective sale sites have been launched and sold. They include the 18-unit Derby Court, which was acquired by Roxy-Pacific Holdings for $73.9 million ($1,390 psf ppr) last December, and 27 Moulmein Rise. Along with a smaller piece of adjacent land, the vacant site at 27 Moulmein Rise was put up for sale by tender on March 9 with a minimum price of $110 million ($1,525 psf ppr). According to Savills Singapore, which is brokering the sale, the two residential development sites have a total area of 22,198 sq ft and a plot ratio of 2.8. They have a combined maximum allowable gross floor area of 72,147 sq ft, inclusive of the 10% balcony bonus GFA. A group of residents at Pandan Valley, a freehold condo with 605 units, are reportedly attempting a collective sale. A 3,089 sq ft unit at the development changed hands at $2.8 million ($906 psf) in January. Another 2,669 sq ft unit went for $2.55 million ($955 psf) last December. Completed in 1978, Pandan Valley was designed by Tan Cheng Siong, founder of Archurban Architects Planners, who also designed Pearl Bank Apartments. The iconic horseshoe-shaped development in Outram was recently acquired en bloc by CapitaLand for $728 million ($1,515 psf ppr). Located near Pandan Valley is the 660-unit Pine Grove, which was put up for collective sale at $1.7 billion in 2011. Some residents are attempting for the third time to launch a collective sale of the former HUDC estate. Also located nearby is the 464-unit Ridgewood, whose 672,148 sq ft site has a 999-year lease. Although Ridgewood s previous collective sale attempts in 2007 and 2013 did not garner enough approval from the residents, a group of owners are reportedly launching a third attempt. E Projects in Central Region with units priced below $1,000 psf SOURCE: URA, EDGEPROP PROJECT DISTRICT TENURE YEAR OF NO NO OF UNITS AVERAGE COMPLETION OF UNITS SOLD BELOW PRICE PSF ($) $1,000 PSF Aston Mansions 14 99 years 1998 159 8 808 Sherwood Tower 21 99 years 1980 269 8 690 Simsville 14 99 years 1998 522 8 903 The Interlace 4 99 years 2013 1,040 8 758 High Oak Condominium 21 99 years 1999 192 7 868 Hillcrest Arcadia 11 99 years 1980 272 7 861 Atrium Residences 14 Freehold 2008 142 6 898 Sims Green 14 99 years 2003 108 6 696 Dunman View 15 99 years 2004 148 5 962 Kentish Lodge 8 99 years 1998 75 5 910 The Arcadia 11 99 years 1983 164 5 917 Kerrisdale 8 99 years 2005 481 4 989 Sims Residences 14 99 years 2002 112 4 788 Townhouse Apartments 9 99 years Unknown 48 4 862 Wing Fong Court 14 Freehold 1997 Unknown 4 720 Le Crescendo 14 Freehold 2006 228 3 932 Sherwood Condominium 21 Freehold 1998 116 3 976 Wing Fong Mansions 14 Freehold 1997 Unknown 3 760 Bukit Regency 21 Freehold 1995 224 3 980 SKT Mansions 14 Freehold 1993 Unknown 3 864 Pandan Valley 21 Freehold 1978 605 3 819 Central Grove 14 99 years 2001 262 3 850 Dover Parkview 5 99 years 1997 686 3 859 Bishan Park Condominium 20 99 years 1994 320 3 869 *Based on URA caveat data as at March 21. Table includes only projects with at least three transactions below $1,000 psf in the period of 4Q2017 to March 21. A group of residents at Pandan Valley, a freehold condo with 605 units, are reportedly attempting a collective sale
EP6 EDGEPROP MARCH 26, 2018 COVER STORY PICTURES: ALBERT CHUA/THE EDGE SINGAPORE The formal living room of the GCB on Old Holland Road has a double-volume ceiling Inside a $29.8 mil GCB A Good Class Bungalow on Old Holland Road offers a glimpse of the lifestyle of the discreetly rich. The property is now on the market. Who are the potential buyers? BY CECILIA CHOW Located on Old Holland Road and partially hidden from street view is a Good Class Bungalow (GCB) with a neat picket fence. The grand proportions of the house point to a classical design. The decorative frieze running along the border of the porte cochère was inspired by a visit to Mauritius, while the patterned granite flooring at the entrance was inspired by a visit to St Petersburg. The entrance hall with its 8m ceiling and painted dome, grand staircase with brass railings, textured walls and arched doorways reflects a Mediterranean style. The textured walls and painted dome are the work of two British artists, the limestone floor tiles are from Paris and the designer bathroom tiles from Spain. We love to travel, says the homeowner, a retired Singaporean lawyer who only wants to be known as Louisa. Her husband, a former CEO of a giant international retail group, travelled extensively as part of his job, and Louisa often joined him. The couple was based in Hong Kong when they purchased the GCB on Old Holland Road in the early 1990s. It was also then that Louisa s husband s company acquired a supermarket chain in Spain and therefore, the couple spent some time there. I didn t want to sit around watching television all day, says Louisa. So, I studied Spanish, and made use of the time purchasing things for the house. Backdrop for art collection The house is a reflection of its well-travelled owner, who is also a prolific art collector and passionate about interior design. I not only designed and decorated this house, but also our home in Hong Kong as well as the homes of friends in Hong Kong, Indonesia and Singapore, says Louisa. The formal living room has cathedral-like proportions and the same textured walls as the entrance hall. The adjoining lounge has a tropical theme, with the walls painted by a Cambodian artist. The formal dining room is decidedly in the French château style. European branded finish Instead of separate wet and dry kitchens, Louisa opted for one big kitchen. The customised kitchen cabinetry system is by top German brand Allmilmö, and Louisa had it specially ordered from Europe. The kitchen appliances are all top-end German brand Gaggenau. Even the bathroom fittings and sanitaryware are manufactured by German brand Dornbracht. SAMUEL ISAAC CHUA/THE EDGE SINGAPORE Sim: It is like a piece of art, a home where you would be proud to invite guests On the first level of the house are a television room and two spacious en suite bedrooms. The second level contains two more bedrooms, including the master suite. One of the bedrooms on the second level, which is also en suite, has been turned into a study. The palatial master suite, which features French furniture, has a hidden door leading to the balcony overlooking the formal living room. During Christmas parties, we have the children s choir up on the balcony, says Louisa. And during Chinese New Year, we have the lion dance troupe. The massive master bathroom comes with a European cast iron clawfoot bathtub, double-sink vanity top, a separate bidet and shower compartment. Built to last There are not only his and hers sinks in the master bathroom but also his and hers walk-in wardrobes in the master suite. Some couples with young children have said that my walk-in wardrobe can be turned into a nursery, while my husband s can be turned into an adjoining bedroom for a young child or a study, says Louisa. Within the master suite is a concealed dumb waiter that is big enough to fit four large suitcases. It s great, as we travelled a lot; we didn t have to carry the suitcases upstairs or downstairs, Louisa says. There is also a concealed storage space for linens and towels, as well as a spacious attic accessible via a pull-down staircase from the master suite. The attic has been turned into Louisa s craft room. The basement has been turned into an entertainment area, with a bar opening out to the swimming pool, and a bomb shelter converted into a wine cellar. It also houses the maid s room and laundry room. Even though the property was built 24 years ago, it is so well maintained that it hardly shows its age. We bought the house 27 years ago, and didn t rebuild it until three years later, and we have been living here very happily ever since, says Louisa. She estimates that the total cost of rebuilding the house was about $1 million. Today, it is likely to cost $5 million to $6 million to build a house of a similar scale.
EDGEPROP MARCH 26, 2018 EP7 COVER STORY TABLES: URA REALIS GCB transactions in 1Q2018* ADDRESS AREA (SQ FT) TRANSACTED PRICE ($) UNIT PRICE ($ PSF) SALE DATE TENURE Leedon Road 43,928 57,500,000 1,309 Jan 18 Freehold Binjai Park 14,047 18,261,100 1,300 Jan 22 Freehold Eng Neo Avenue 17,072 23,300,000 1,365 Jan 31 Freehold Jalan Senandong 9,580 14,500,000 1,511 Jan 31 Freehold Yarwood Avenue 16,146 19,400,000 1,201 March 1 999 years from March 26, 1885 Oriole Crescent 10,409 13,200,000 1,269 March 5 Freehold Dalvey Road 20,139 35,400,000 1,757 March 8 Freehold *Based on caveats lodged with URA Realis as at March 20, 2018 GCB transactions above $30 mil in 2017 ADDRESS AREA (SQ FT) TRANSACTED PRICE ($) UNIT PRICE ($ PSF) SALE DATE TENURE King Albert Park 39,224 43,800,000 1,117 Feb 21 Freehold Victoria Park Close 29,956 40,000,000 1,335 April 12 999 years from Dec 27, 1875 Leedon Park 31,216 40,880,000 1,310 June 9 Freehold Queen Astrid Park 29,709 46,000,000 1,548 June 12 999 years from Sept 1, 1876 Cluny Road 20,236 34,500,000 1,705 Nov 15 Freehold 20 Cluny Hill 15,102 35,500,000 2,350 Nov 23 Freehold Rochalie Drive 16,770 33,000,000 1,968 Dec 22 Freehold The entrance hall has an 8m-high ceiling and a painted dome Lifestyle changes The purchase of the home on Old Holland Road more than 25 years ago was the result of a change in lifestyle, says Louisa. My husband was thinking of retiring, and we wanted to find a location where both of us would be happy living. The couple was living in Hong Kong at the time, but they short-listed a number of locations for their next phase of life: British Columbia in Canada, Hawaii, Italy, Singapore and Tasmania, Australia. We awarded points for each of the places we wanted to live in, says Louisa. After much consideration of factors such as lifestyle, convenience in terms of travel and availability of medical facilities, Singapore emerged at the top of our list. Now that her husband is increasingly wheelchair-dependent, the couple felt it was time to move once again. We decided we wanted the living area to be on one level, and where we would still have a private pool and garden, says Louisa. After visiting many penthouses, they honed in on one in a freehold, luxury condominium on Bukit Timah Road. It comes with private lift access, a private roof terrace with swimming pool and a deck that Louisa is turning into a hanging garden. She is already planning how to furnish the new home. It s very quiet, and we re looking forward to moving to the new place. I like the fact that we re near Orchard Road, but still outside the bustle of the shopping belt. The couple recently put the house on Old Holland Road on the market. It has a built-up area of about 12,000 sq ft and sits on a freehold 25,810 sq ft plot. What the couple liked about the house when they first purchased it was the wide frontage and space to entertain. The space is large enough for parties of up to 250 people. The entire main house was rebuilt. The only original structures that were retained were the standalone garage, and the maid s quarters in the basement. We wanted to keep some of the character of the original property, such as the original terrazzo tiles in the basement, says Louisa. A piece of art The asking price for the GCB on Old Holland Road is $29.8 million, which translates into a land rate of $1,155 psf. It s a reasonable price, says Jeffrey Sim, associate executive director of OrangeTee & Tie real estate agency and the marketing agent for the house. It is like a piece of art, a home where you would be proud to invite guests. I would keep at least 80% of the house intact, as it s so well maintained, and just do minor alterations to suit my lifestyle. Most GCB buyers today are buying for their own use. According to Sim, there have been many enquiries, as GCBs in the Old Holland Road enclave are rarely put on the market. The latest transaction in the neighbourhood was that of a house at Seven Oaks, a cluster of GCBs developed by MCL Land and located on Garlick Avenue and Old Holland Road. The GCBs at Seven Oaks were fully sold and completed in 1998. The GCB at Seven Oaks that was recently sold occupies a freehold site of 18,546 sq ft and fetched $16.8 million ($906 psf) last October, according to a caveat lodged then. At the last peak in November 2010, the GCB changed hands for $20 million ($1,079 psf), according to a caveat lodged then. Transactions above $30 mil to double Sentiment in the GCB market picked up in 2H2017, following the en bloc fever. Some developers whose com- panies did well over the past year are also in the market, looking to buy a GCB for themselves, says K H Tan, a veteran luxury bungalow specialist and managing director of Newsman Realty. There are a lot of new Singapore citizens from Indonesia and China who are also actively looking for a GCB. Tan expects the number of GCB transactions above $30 million to double this year from 2017. Last year, seven GCBs were sold at more than $30 million, of which four were above $40 million (see tables). So far in 1Q2018, there have been seven GCB transactions totalling $181.56 million, with an average price of $1,385 psf, according to CBRE Research. In 2017, 41 GCBs were sold for a total of $866.75 million, or an average price of $1,328 psf. This translates into a price increase of 4.3% in 1Q2018. Newsman s Tan expects prices in the overall GCB market to increase by 5% to 10% in 2018. Prices were soft over the last few years, but with improved sentiment, owing to the en bloc fever, activity has picked up and prices are likely to bounce back, he says. Of buyers and sellers William Wong, founder of Real Star Premier Group, which focuses on landed property, expects the GCB transaction value to cross $1 billion this year. He attributes his forecast for 2018 to several factors: the gap between buyer s and seller s asking prices is closing; and more detached home transactions since 2H2017, with more of these sellers looking to upgrade to a GCB. He estimates that 500 buyers could enter the landed home segment over the next two years, with most being en bloc beneficiaries. Steve Tay, CBRE Realty Associates senior vice-president, resale division, says there is certainly a ripple effect. Those en bloc beneficiaries with $3 million to $4 million in proceeds are upgrading to landed property in the prime districts, he says. Likewise, those in landed property, especially detached houses, want to upgrade to a GCB. Buyers in the GCB market are also getting younger, notes Tay. We ve seen some in their 20s and early 30s entering the GCB market, some of whom could have financial support from their parents. Total GCB transacted value and sales volume Transacted value ($ mil) Average price psf ($) 2,500 1600 2,000 1,500 1,000 500 0 2007 2008 2009 2010 2011 2012 Unaffected by BSD, spike in interest rate GCB demand has been particularly strong in the prime areas. Towards the end of last year, we saw GCB sales in Rochalie Drive and Cluny Park, says Real Star Premier s Wong. GCBs in the Tanglin and in the vicinity of Botanic Gardens are also soughtafter. Buyers are very selective when it comes to location. In the luxury GCB market, where prices are $30 million or higher, buyers are increasingly businessmen, top executives and professionals in their early 40s or older, observes Newsman s Tan. The additional 1% buyer s stamp duty for properties priced above $1 million has had little impact on sentiment. Buyers at this end of the market want a GCB because their business is doing well 2013 Average price psf ($) 2014 Total transacted value ($ mil) The basement bar and entertainment area open out to the swimming pool 2015 2016 2017 2018 CBRE RESEARCH 1400 1200 1000 800 600 400 200 and they are financially successful, Tan says. They are not affected by the BSD or a rise in interest rates. The sellers profiles are more varied, observes Tan. Some are selling because their children have grown up and moved out of their home, and they want a simpler lifestyle. Some transactions are estate sales, and others are carried out by owners who want to distribute their wealth to their children. For Louisa and her husband, the reason for selling their GCB is their desire for a change in lifestyle. We don t entertain as much now, and we are looking forward to moving to our new place, she says. They are pricing their property at an enticing price below $30 million because we know Singaporeans love a good deal, she points out. It s priced to sell. E 0
EP8 EDGEPROP MARCH 26, 2018 DONE DEALS New luxury condos in prime districts could hit $3,500 psf BY TIMOTHY TAY The property market is on an upturn and the prime districts have seen successful collective sales recently, the biggest of which was that of Pacific Mansion on River Valley Close, which was sold en bloc for $980 million on March 19. Pacific Mansion was purchased by a joint venture company set up by listed property developer GuocoLand, led by Malaysian tycoon Quek Leng Chan, and privately held entities of Hong Leong Holdings in Singapore, controlled by his cousin and fellow tycoon, Kwek Leng Beng. Pacific Mansion s purchase price of $980 million translates into a land rate of $1,806 psf per plot ratio (ppr), which means the new freehold development on the site is likely to have selling prices in the range of $3,000 to $3,200 psf, estimate property consultants. Meanwhile, Cairnhill Mansions was sold en bloc to Low Keng Huat for $362 million, or a land rate of $2,311 psf ppr, which will mean that the selling prices of the new development are likely to be $3,500 psf and above. Given the future prices of these new developments, developers sitting on already-launched projects are also increasing their prices. Buyers who were undecided before may now feel the pressure to purchase a property, says Leong Boon Hoe, chief operating officer of List Sotheby s International Realty. Leong says GuocoLand is likely to restrategise its pricing of Martin Modern. The 99-year leasehold development is located at Martin Place, off Martin Road and River Valley Close. When the 450-unit luxury condo was launched last July, the average price was $2,100 to $2,200 psf. Transaction prices at Martin Modern have been trending higher. Over the past fortnight, 13 units at Martin Modern were sold, with many of them surpassing $2,800 psf, although the caveats for these units have yet to be lodged, says Dominic Lee, head of the luxury team at PropNex Realty. However, following the sales of the 13 units by Lee s team at PropNex, the sales gallery was closed on March 17. The developer is believed to be reviewing prices, and could launch a new phase at a later date and at higher prices. According to Lee, projects in the prime districts of River Valley and Cairnhill are now crossing the $2,800 psf level and are likely to reach $3,500 psf in the current property cycle. He says prices achieved at Government Land Sales (GLS) sites have a greater GUOCOLAND Since Martin Modern s launch last July, more than half the units at the 450-unit luxury condo have been sold impact on developers pricing strategies for new launches in the prime districts compared with prices of land sold in collective sales in the same neighbourhood. He points to Martin Modern as an example. Prior to the close of the tender of the GLS site on Jiak Kim Street in December, prices of units sold at Martin Modern were around $2,380 psf, he notes. Following the sale of the GLS site to Frasers Property at $1,711 psf ppr, average prices at Martin Modern rose to $2,700 psf in January. The Jiak Kim Street site is located across the road from Martin Modern. At Cairnhill Circle, seven units at Hilltops were sold during the week of March 6 to 13. They are a mix of two- and three-bedroom units ranging from 807 to 1,711 sq ft, and the average price was $2,967 psf. The 241-unit, freehold luxury Hilltops was developed by SC Global Developments and completed in 2011. Besides Hilltops, other relatively new luxury condos in the Cairnhill area are also likely to see increased sales, according to Sotheby s Leong. He cites Far East Organization s The Scotts Tower and KOP Properties The Ritz-Carlton Residences. There is a limited supply of luxury projects in the pipeline at the moment, and developers will certainly take their cue from the prices achieved at collective sales and GLS sites recently when pricing the remaining units in their development, adds Leong. E Singapore by postal district LOCALITIES DISTRICTS City & Southwest 1 to 8 Orchard/Tanglin/Holland 9 and 10 Newton/Bukit Timah/Clementi 11 and 21 Balestier/MacPherson/Geylang 12 to 14 East Coast 15 and 16 Changi/Pasir Ris 17 and 18 Serangoon/Thomson 19 and 20 West 22 to 24 North 25 to 28 Residential transactions with contracts dated March 6 to 13 LAND AREA/ NETT UNIT FLOOR AREA TRANSACTED PRICE PRICE COMPLETION TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($) ($ PSF) DATE SALE District 1 V ON SHENTON Apartment 99 years March 08, 2018 1,216 2,800,000-2,302 2017 New Sale V ON SHENTON Apartment 99 years March 12, 2018 484 1,050,000-2,168 2017 Sub Sale District 2 EON SHENTON Apartment 99 years March 12, 2018 624 1,800,000-2,883 2017 Sub Sale ICON Apartment 99 years March 08, 2018 570 1,060,000-1,858 2007 Resale INTERNATIONAL PLAZA Apartment 99 years March 08, 2018 1,033 1,070,000-1,035 1976 Resale SPOTTISWOODE RESIDENCES Condominium Freehold March 08, 2018 797 1,557,500-1,955 2013 Resale WALLICH RESIDENCE AT TANJONG PAGAR CENTRE Apartment 99 years March 10, 2018 861 2,800,000-3,252 2017 New Sale District 3 ARTRA Apartment 99 years March 07, 2018 1,227 2,216,400-1,806 Uncompleted New Sale ARTRA Apartment 99 years March 07, 2018 829 1,678,300-2,025 Uncompleted New Sale ECHELON Condominium 99 years March 07, 2018 1,572 2,920,000-1,858 2016 Resale QUEENS PEAK Condominium 99 years March 09, 2018 850 1,659,000-1,951 Uncompleted New Sale QUEENS PEAK Condominium 99 years March 11, 2018 850 1,652,000-1,943 Uncompleted New Sale QUEENS PEAK Condominium 99 years March 11, 2018 807 1,569,000-1,944 Uncompleted New Sale QUEENS PEAK Condominium 99 years March 11, 2018 861 1,629,000-1,892 Uncompleted New Sale THE CREST Condominium 99 years March 07, 2018 1,023 2,106,000-2,059 2017 Resale THE CREST Condominium 99 years March 09, 2018 1,281 2,673,000-2,087 2017 Resale THE CREST Condominium 99 years March 12, 2018 1,033 2,143,000-2,074 2017 Resale District 4 CARIBBEAN AT KEPPEL BAY Condominium 99 years March 12, 2018 1,335 2,150,000-1,611 2004 Resale MARINA COLLECTION Condominium 99 years March 12, 2018 2,347 4,300,000-1,832 2011 Resale COVE GROVE Detached 99 years March 08, 2018 10,107 15,000,000-1,485 2011 Resale REFLECTIONS AT KEPPEL BAY Condominium 99 years March 12, 2018 1,765 3,337,180-1,890 2011 Resale SEASCAPE Condominium 99 years March 09, 2018 2,164 4,500,000-2,080 2011 Resale THE FORESTA @ MOUNT FABER Condominium Freehold March 12, 2018 947 1,580,000-1,668 2014 Resale THE INTERLACE Condominium 99 years March 09, 2018 3,735 4,450,000-1,191 2013 Resale District 5 LANDRIDGE CONDOMINIUM Condominium Freehold March 08, 2018 1,894 2,150,000-1,135 1993 Resale JALAN MAT JAMBOL Semi-Detached Freehold March 07, 2018 3,972 4,080,000-1,028 1987 Resale PARC RIVIERA Condominium 99 years March 08, 2018 1,184 1,320,000-1,115 Uncompleted New Sale THE CLEMENT CANOPY Apartment 99 years March 10, 2018 1,345 1,992,000-1,480 Uncompleted New Sale THE CLEMENT CANOPY Apartment 99 years March 10, 2018 990 1,471,000-1,485 Uncompleted New Sale THE ORIENT Apartment Freehold March 08, 2018 990 1,820,750-1,839 2017 New Sale 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 TRILINQ Condominium 99 years March 09, 2018 1,345 1,649,000-1,226 2017 New Sale WESTSIDE 33 Terrace Freehold March 08, 2018 2,508 1,900,000-758 2006 Resale District 7 CONCOURSE SKYLINE Apartment 99 years March 09, 2018 818 1,370,000-1,675 2014 Resale SUNSHINE PLAZA Apartment 99 years March 08, 2018 1,044 1,350,000-1,293 2001 Resale District 8 FORTE SUITES Apartment Freehold March 07, 2018 678 1,367,000-2,016 2016 New Sale OXFORD SUITES Apartment Freehold March 08, 2018 678 980,000-1,445 2010 Resale STURDEE RESIDENCES Condominium 99 years March 09, 2018 947 1,516,000-1,600 Uncompleted New Sale STURDEE RESIDENCES Condominium 99 years March 09, 2018 1,302 2,248,000-1,726 Uncompleted New Sale District 9 8 @ MOUNT SOPHIA Condominium 103 years March 09, 2018 861 1,200,000-1,394 2007 Resale HILLTOPS Condominium Freehold March 09, 2018 1,711 5,289,000-3,090 2011 Resale HILLTOPS Condominium Freehold March 09, 2018 1,335 4,153,000-3,111 2011 Resale HILLTOPS Condominium Freehold March 09, 2018 1,711 5,153,000-3,011 2011 Resale HILLTOPS Condominium Freehold March 09, 2018 1,249 3,466,000-2,776 2011 Resale HILLTOPS Condominium Freehold March 09, 2018 1,249 3,506,000-2,808 2011 Resale HILLTOPS Condominium Freehold March 09, 2018 1,335 4,046,000-3,031 2011 Resale HILLTOPS Condominium Freehold March 12, 2018 807 2,268,000-2,809 2011 Resale MARTIN MODERN Condominium 99 years March 07, 2018 764 2,111,240-2,763 Uncompleted New Sale MARTIN MODERN Condominium 99 years March 08, 2018 872 2,230,620-2,558 Uncompleted New Sale MARTIN MODERN Condominium 99 years March 09, 2018 764 2,038,500-2,667 Uncompleted New Sale MARTIN MODERN Condominium 99 years March 09, 2018 764 2,043,000-2,673 Uncompleted New Sale MARTIN MODERN Condominium 99 years March 09, 2018 764 2,135,700-2,795 Uncompleted New Sale MARTIN MODERN Condominium 99 years March 09, 2018 764 2,151,660-2,815 Uncompleted New Sale MARTIN MODERN Condominium 99 years March 09, 2018 764 2,147,900-2,810 Uncompleted New Sale MARTIN MODERN Condominium 99 years March 09, 2018 764 2,136,620-2,796 Uncompleted New Sale MARTIN MODERN Condominium 99 years March 11, 2018 872 2,226,860-2,554 Uncompleted New Sale RICHMOND PARK Condominium Freehold March 09, 2018 1,012 2,800,000-2,767 1996 Resale SOPHIA HILLS Condominium 99 years March 07, 2018 1,313 2,769,000-2,109 Uncompleted New Sale SOPHIA RESIDENCE Condominium Freehold March 07, 2018 1,453 2,240,000-1,541 2014 Resale THE COSMOPOLITAN Condominium Freehold March 09, 2018 1,141 2,550,000-2,235 2008 Resale THE PEAK @ CAIRNHILL II Apartment Freehold March 09, 2018 829 2,450,000-2,956 2015 Resale THE SUITES AT CENTRAL Condominium Freehold March 08, 2018 1,808 4,050,000-2,240 2009 Resale THE VERMONT ON CAIRNHILL Apartment Freehold March 09, 2018 1,432 3,050,000-2,130 2013 Resale UE SQUARE Apartment 929 years March 09, 2018 1,625 2,650,000-1,630 1997 Resale UE SQUARE Apartment 929 years March 12, 2018 710 1,200,000-1,689 1997 Resale WATERMARK ROBERTSON QUAY Apartment Freehold March 08, 2018 1,281 2,380,000-1,858 2008 Resale District 10 8 NAPIER Condominium Freehold March 08, 2018 2,013 6,300,000-3,130 2010 Resale DUCHESS GARDEN Semi-Detached 999 years March 09, 2018 5,134 8,050,000-1,569 1975 Resale GRAMERCY PARK Condominium Freehold March 09, 2018 1,970 6,383,700-3,241 2016 Resale GRAMERCY PARK Condominium Freehold March 12, 2018 1,959 6,405,840-3,270 2016 Resale HALLMARK RESIDENCES Condominium Freehold March 12, 2018 1,862 3,518,000-1,889 2015 Resale ILLOURA Semi-Detached Freehold March 08, 2018 4,564 4,480,000-982 2009 Resale LEEDON RESIDENCE Condominium Freehold March 12, 2018 7,007 12,342,000-1,761 2015 Resale MON JERVOIS Condominium 99 years March 09, 2018 1,561 3,248,521-2,081 2016 Resale MONTVIEW Condominium Freehold March 07, 2018 1,507 2,450,000-1,626 2008 Resale PRINCESS OF WALES ROAD Detached Freehold March 08, 2018 5,134 12,800,000-2,491 1983 Resale DALVEY ROAD Detached Freehold March 08, 2018 20,139 35,400,000-1,757 1992 Resale GREENLEAF VIEW Semi-Detached Freehold March 08, 2018 3,584 5,700,000-1,588 1996 Resale LEMON AVENUE Terrace Freehold March 12, 2018 2,110 3,880,000-1,837 1975 Resale ONE BALMORAL Condominium Freehold March 09, 2018 2,314 4,977,000-2,151 2016 Resale ONE JERVOIS Condominium Freehold March 08, 2018 1,948 3,168,000-1,626 2009 Resale PARKSUITES Apartment 110 years March 07, 2018 786 1,752,275 1,697,584 2,160 Uncompleted New Sale PARKSUITES Apartment 110 years March 08, 2018 646 1,485,435 1,441,418 2,232 Uncompleted New Sale ST REGIS RESIDENCES SINGAPORE Apartment 999 years March 12, 2018 1,507 3,680,000-2,442 2008 Resale TANGLIN REGENCY Condominium 99 years March 12, 2018 850 1,218,000-1,432 1998 Resale THE ASANA Apartment Freehold March 08, 2018 570 1,574,000-2,759 2017 New Sale District 11 26 NEWTON Apartment Freehold March 09, 2018 614 1,596,400-2,602 2016 Resale 26 NEWTON Apartment Freehold March 09, 2018 614 1,683,017-2,743 2016 Resale GENTLE VILLAS Semi-Detached 99 years March 09, 2018 2,260 3,000,000-1,330 1995 Resale LA SUISSE Condominium 999 years March 09, 2018 1,679 1,800,000-1,072 1993 Resale M21 Apartment Freehold March 12, 2018 1,755 2,450,000-1,396 2010 Resale MULBERRY TREE Apartment Freehold March 09, 2018 1,335 1,750,000-1,311 2010 Resale VANDA CRESCENT Detached Freehold March 08, 2018 9,052 14,250,000-1,574 1975 Resale LINDEN DRIVE Semi-Detached Freehold March 09, 2018 3,897 6,980,000-1,793 2006 Resale
EDGEPROP MARCH 26, 2018 EP9 DONE DEALS Residential transactions with contracts dated March 6 to 13 LAND AREA/ NETT UNIT FLOOR AREA TRANSACTED PRICE PRICE COMPLETION TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($) ($ PSF) DATE SALE GREENDALE RISE Detached Freehold March 12, 2018 6,609 9,888,888-1,497 1977 Resale WHITLEY ROAD Semi-Detached Freehold March 12, 2018 2,282 5,400,000-2,366 2017 Resale NINETEEN SHELFORD ROAD Condominium Freehold March 08, 2018 936 1,500,000-1,602 1997 Resale SOLEIL @ SINARAN Condominium 99 years March 07, 2018 936 1,730,000-1,847 2011 Resale SOLEIL @ SINARAN Condominium 99 years March 08, 2018 936 1,640,000-1,751 2011 Resale WATTEN HILL Condominium Freehold March 12, 2018 2,669 3,088,888-1,157 1979 Resale District 12 GEM RESIDENCES Condominium 99 years March 07, 2018 678 1,188,000-1,752 Uncompleted New Sale GEM RESIDENCES Condominium 99 years March 08, 2018 1,313 2,030,000-1,546 Uncompleted New Sale GEM RESIDENCES Condominium 99 years March 11, 2018 1,313 2,084,000-1,587 Uncompleted New Sale GEM RESIDENCES Condominium 99 years March 11, 2018 1,249 1,859,000-1,489 Uncompleted New Sale KALLANG RIVERSIDE Apartment Freehold March 10, 2018 517 1,324,138-2,563 Uncompleted New Sale ST. MICHAEL S ROAD Terrace Freehold March 07, 2018 1,658 1,900,000-1,147 1970 Resale NEEM TREE Apartment Freehold March 07, 2018 710 1,193,600-1,680 Uncompleted New Sale ST MICHAEL S PLACE Apartment Freehold March 09, 2018 1,227 1,320,000-1,076 1997 Resale TREVISTA Condominium 99 years March 07, 2018 1,141 1,270,000-1,113 2011 Resale TREVISTA Condominium 99 years March 08, 2018 893 1,268,000-1,419 2011 Resale District 13 E MAISON Apartment Freehold March 12, 2018 1,152 1,518,336-1,318 2016 Resale OASIS @ MULBERRY Terrace Freehold March 09, 2018 2,497 3,188,888-1,275 2006 Resale SERANGOON PARK Semi-Detached Freehold March 08, 2018 3,455 3,700,000-1,070 1972 Resale District 14 DAKOTA RESIDENCES Condominium 99 years March 07, 2018 1,313 1,700,000-1,295 2010 Resale EUNOS PARK Condominium Freehold March 08, 2018 1,679 1,580,000-941 1995 Resale GOODVIEW APARTMENTS Apartment Freehold March 08, 2018 1,141 822,000-720 1994 Resale LA FLEUR Apartment Freehold March 09, 2018 420 532,000-1,267 2014 Resale LA FLEUR Apartment Freehold March 12, 2018 431 525,000-1,219 2014 Resale LE CRESCENDO Condominium Freehold March 08, 2018 1,184 1,420,000-1,199 2006 Resale LE CRESCENDO Condominium Freehold March 09, 2018 1,173 1,380,000-1,176 2006 Resale LE CRESCENDO Condominium Freehold March 09, 2018 3,649 2,915,000-799 2006 Resale LEVENUE Apartment Freehold March 08, 2018 495 655,000-1,323 2014 Resale JALAN SAYANG Detached Freehold March 08, 2018 5,005 5,250,000-1,050 1995 Resale REZI 35 Apartment Freehold March 09, 2018 840 1,183,000-1,409 Uncompleted New Sale REZI 35 Apartment Freehold March 11, 2018 797 1,279,000-1,606 Uncompleted New Sale SIMS EDGE Apartment Freehold March 13, 2018 409 600,000-1,467 2014 Resale SIMS URBAN OASIS Condominium 99 years March 07, 2018 1,442 2,153,200-1,493 2017 New Sale SIMS URBAN OASIS Condominium 99 years March 09, 2018 958 1,346,700-1,406 2017 New Sale SIMS URBAN OASIS Condominium 99 years March 09, 2018 958 1,346,700-1,406 2017 New Sale THE NAVIAN Apartment Freehold March 11, 2018 904 1,394,112-1,542 Uncompleted New Sale THE WATERINA Apartment Freehold March 12, 2018 1,335 1,600,000-1,199 2005 Resale WATERBANK AT DAKOTA Condominium 99 years March 09, 2018 883 1,100,000-1,246 2013 Resale District 15 ARTHUR 118 Apartment Freehold March 12, 2018 893 1,398,000-1,565 2006 Resale CASUARINA COVE Condominium 99 years March 12, 2018 1,389 1,800,000-1,296 1996 Resale COTE D AZUR Condominium 99 years March 08, 2018 1,109 1,355,000-1,222 2004 Resale CRESCENDO PARK Condominium Freehold March 12, 2018 1,432 1,650,000-1,153 1996 Resale DE CENTURION Apartment Freehold March 08, 2018 1,044 1,580,000-1,513 2010 Resale DUNMAN VIEW Condominium 99 years March 08, 2018 1,227 1,165,650-950 2004 Resale ESPIRA RESIDENCE Apartment Freehold March 08, 2018 1,550 1,295,000-835 2009 Resale FORTUNE JADE Apartment Freehold March 08, 2018 1,098 1,520,000-1,384 2003 Resale HERITAGE RESIDENCES Apartment Freehold March 12, 2018 441 545,000-1,235 2008 Resale LANGSAT ROAD Terrace Freehold March 09, 2018 1,679 3,500,000-2,080 2014 Resale TELOK KURAU ROAD Apartment Freehold March 12, 2018 1,302 1,280,000-983 1971 Resale ONE AMBER Condominium Freehold March 07, 2018 1,335 2,448,000-1,834 2010 Resale SANCTUARY GREEN Condominium 99 years March 12, 2018 1,399 1,610,000-1,151 2004 Resale SANCTUARY GREEN Condominium 99 years March 12, 2018 1,141 1,250,000-1,096 2004 Resale SEASIDE RESIDENCES Apartment 99 years March 08, 2018 1,259 2,015,000-1,600 Uncompleted New Sale SEASIDE RESIDENCES Apartment 99 years March 10, 2018 592 979,000-1,654 Uncompleted New Sale SEASIDE RESIDENCES Apartment 99 years March 11, 2018 592 1,067,000-1,802 Uncompleted New Sale SEASIDE RESIDENCES Apartment 99 years March 11, 2018 560 972,000-1,737 Uncompleted New Sale SEASIDE RESIDENCES Apartment 99 years March 11, 2018 1,087 1,683,000-1,548 Uncompleted New Sale SUITES @ EASTCOAST Condominium Freehold March 09, 2018 366 560,000-1,530 2012 Resale SUNNY PALMS Condominium Freehold March 12, 2018 1,055 1,088,000-1,031 2004 Resale TAIPAN GRAND Apartment Freehold March 09, 2018 1,227 1,700,000-1,385 2005 Resale THE LINE @ TANJONG RHU Condominium Freehold March 08, 2018 431 993,280-2,307 2016 Resale THE LINE @ TANJONG RHU Condominium Freehold March 08, 2018 581 1,338,600-2,303 2016 Resale THE SOUND Condominium Freehold March 07, 2018 904 1,400,000-1,548 2013 Resale District 16 BAYSHORE PARK Condominium 99 years March 09, 2018 1,292 1,380,000-1,068 1986 Resale BEDOK RESIDENCES Apartment 99 years March 12, 2018 3,078 3,201,000-1,040 2015 Resale BEDOK RIA Terrace Freehold March 12, 2018 1,776 2,540,000-1,431 1991 Resale COSTA DEL SOL Condominium 99 years March 12, 2018 1,238 1,543,888-1,247 2003 Resale EAST MEADOWS Condominium 99 years March 08, 2018 1,345 1,280,000-951 2002 Resale EAST MEADOWS Condominium 99 years March 08, 2018 861 888,000-1,031 2001 Resale ECO Condominium 99 years March 08, 2018 592 860,000-1,453 2017 Resale GRANDEUR PARK RESIDENCES Condominium 99 years March 10, 2018 893 1,313,000-1,470 Uncompleted New Sale GRANDEUR PARK RESIDENCES Condominium 99 years March 11, 2018 893 1,275,000-1,427 Uncompleted New Sale GRANDEUR PARK RESIDENCES Condominium 99 years March 11, 2018 667 1,135,000-1,701 Uncompleted New Sale EVERGREEN AVENUE Semi-Detached Freehold March 08, 2018 3,218 3,800,000-1,181 Unknown Resale HARVEY CRESCENT Semi-Detached Freehold March 09, 2018 3,423 4,200,000-1,227 1991 Resale LANGSAT ROAD Apartment Freehold March 09, 2018 9,720 7,700,000-792 Unknown Resale SEA BREEZE TERRACE Terrace Freehold March 12, 2018 1,862 3,100,000-1,665 1992 Resale THE BAYSHORE Condominium 99 years March 09, 2018 1,012 1,000,000-988 1996 Resale THE DAFFODIL Apartment Freehold March 09, 2018 689 740,000-1,074 1998 Resale WATERFRONT GOLD Condominium 99 years March 12, 2018 1,378 1,428,000-1,036 2014 Resale WATERFRONT KEY Condominium 99 years March 09, 2018 1,173 1,318,888-1,124 2012 Resale WATERFRONT WAVES Condominium 99 years March 07, 2018 1,572 1,800,000-1,145 2011 Resale District 17 AZALEA PARK CONDOMINIUM Condominium 999 years March 07, 2018 1,335 1,200,000-899 1996 Resale CARISSA PARK CONDOMINIUM Condominium Freehold March 09, 2018 926 768,000-830 2001 Resale CARISSA PARK CONDOMINIUM Condominium Freehold March 12, 2018 3,014 2,180,000-723 2001 Resale FERRARIA PARK CONDOMINIUM Condominium Freehold March 09, 2018 1,173 1,020,000-869 2009 Resale HEDGES PARK CONDOMINIUM Condominium 99 years March 09, 2018 1,345 1,200,000-892 2015 Resale PARC OLYMPIA Condominium 99 years March 08, 2018 1,808 1,190,000-658 2015 Resale TOH ESTATE Semi-Detached Freehold March 12, 2018 3,132 2,850,000-911 1995 Resale District 18 D NEST Condominium 99 years March 09, 2018 969 1,000,000-1,032 2017 Resale EASTPOINT GREEN Condominium 99 years March 09, 2018 958 773,000-807 1999 Resale NV RESIDENCES Condominium 99 years March 09, 2018 1,227 1,085,000-884 2013 Resale RIPPLE BAY Condominium 99 years March 12, 2018 1,475 1,225,000-831 2015 Resale THE SANTORINI Condominium 99 years March 07, 2018 915 920,000-1,006 2017 New Sale District 19 CASA ROSA Condominium 99 years March 07, 2018 1,281 1,038,000-810 2001 Resale CASA ROSA Condominium 99 years March 09, 2018 1,130 908,000-803 2001 Resale CHARLTON 18 Terrace Freehold March 07, 2018 3,391 3,000,000-885 2016 Resale COMPASS HEIGHTS Apartment 99 years March 07, 2018 1,055 945,000-896 2002 Resale KINGSFORD WATERBAY Apartment 99 years March 09, 2018 883 1,216,000-1,378 Uncompleted New Sale KINGSFORD WATERBAY Apartment 99 years March 09, 2018 689 1,004,000-1,457 Uncompleted New Sale KINGSFORD WATERBAY Apartment 99 years March 09, 2018 861 1,172,000-1,361 Uncompleted New Sale KINGSFORD WATERBAY Apartment 99 years March 09, 2018 883 1,212,000-1,373 Uncompleted New Sale KINGSFORD WATERBAY Apartment 99 years March 09, 2018 850 1,157,000-1,361 Uncompleted New Sale KINGSFORD WATERBAY Apartment 99 years March 09, 2018 883 1,215,000-1,377 Uncompleted New Sale KINGSFORD WATERBAY Apartment 99 years March 09, 2018 893 1,194,000-1,336 Uncompleted New Sale KINGSFORD WATERBAY Apartment 99 years March 09, 2018 850 1,138,000-1,338 Uncompleted New Sale KINGSFORD WATERBAY Apartment 99 years March 09, 2018 689 995,000-1,444 Uncompleted New Sale LAND AREA/ NETT UNIT FLOOR AREA TRANSACTED PRICE PRICE COMPLETION TYPE OF PROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($) ($ PSF) DATE SALE KINGSFORD WATERBAY Apartment 99 years March 10, 2018 861 1,170,000-1,359 Uncompleted New Sale KINGSFORD WATERBAY Apartment 99 years March 10, 2018 689 991,000-1,439 Uncompleted New Sale KINGSFORD WATERBAY Apartment 99 years March 10, 2018 883 1,237,600-1,402 Uncompleted New Sale KINGSFORD WATERBAY Apartment 99 years March 10, 2018 678 978,000-1,442 Uncompleted New Sale KINGSFORD WATERBAY Apartment 99 years March 11, 2018 883 1,200,000-1,360 Uncompleted New Sale KINGSFORD WATERBAY Apartment 99 years March 11, 2018 850 1,155,000-1,358 Uncompleted New Sale KINGSFORD WATERBAY Apartment 99 years March 11, 2018 958 1,293,000-1,350 Uncompleted New Sale KOVAN MELODY Condominium 99 years March 07, 2018 893 1,070,000-1,198 2006 Resale LA FIESTA Condominium 99 years March 07, 2018 840 1,030,000-1,227 2016 Resale LA FIESTA Condominium 99 years March 07, 2018 1,195 1,440,000-1,205 2016 Resale JALAN SONGKET Semi-Detached Freehold March 08, 2018 3,498 3,628,000-1,036 Unknown Resale PHILLIPS AVENUE Semi-Detached 999 years March 09, 2018 2,260 3,070,000-1,359 2001 Resale PHILLIPS AVENUE Detached 999 years March 09, 2018 10,398 9,600,000-923 Unknown Resale AH SOO WALK Terrace Freehold March 09, 2018 2,314 2,576,000-1,112 Unknown Resale PALM GROVE REGENCY Semi-Detached 999 years March 09, 2018 3,186 2,180,000-684 2008 Resale PARK RESIDENCES KOVAN Apartment Freehold March 13, 2018 355 560,000-1,577 2014 Resale RIVERSAILS Condominium 99 years March 09, 2018 850 843,000-991 2016 Resale RIVERSAILS Condominium 99 years March 13, 2018 883 805,000-912 2016 Resale RIVERSOUND RESIDENCE Condominium 99 years March 09, 2018 1,475 1,368,000-928 2015 Resale SERANGOON GARDEN ESTATE Terrace 999 years March 07, 2018 2,164 2,600,000-1,202 Unknown Resale SERANGOON GARDEN ESTATE Semi-Detached 999 years March 09, 2018 2,164 3,050,000-1,408 2001 Resale SERANGOON GARDEN ESTATE Terrace 999 years March 09, 2018 2,788 3,400,000-1,218 1996 Resale THE COURTYARD Apartment Freehold March 12, 2018 1,259 1,380,000-1,096 1995 Resale THE MINTON Condominium 99 years March 07, 2018 1,216 1,300,000-1,069 2013 Resale THE SCALA Apartment 99 years March 12, 2018 904 1,300,000-1,438 2013 Resale WEMBLY RESIDENCES Apartment Freehold March 07, 2018 1,561 1,500,888-962 2011 Resale District 20 BISHAN LOFT EC 99 years March 13, 2018 1,399 1,530,000-1,093 2003 Resale BISHAN PARK CONDOMINIUM Condominium 99 years March 09, 2018 1,550 1,330,000-858 1994 Resale GRANDEUR 8 Condominium 99 years March 12, 2018 1,453 1,550,000-1,067 2005 Resale HORIZON GARDENS Terrace 99 years March 08, 2018 3,057 1,840,000-602 2002 Resale JALAN RABU Terrace Freehold March 12, 2018 3,466 2,900,000-838 Unknown Resale SEMBAWANG HILLS ESTATE Terrace Freehold March 08, 2018 1,862 2,748,000-1,472 Unknown Resale SEMBAWANG HILLS ESTATE Terrace Freehold March 09, 2018 1,496 1,900,000-1,266 Unknown Resale SEMBAWANG HILLS ESTATE Terrace Freehold March 09, 2018 1,528 3,163,000-2,069 Unknown Resale SKY VUE Condominium 99 years March 08, 2018 797 1,190,000-1,494 2016 Resale THE PANORAMA Condominium 99 years March 12, 2018 1,066 1,630,000-1,530 2017 Sub Sale THOMSON GARDEN ESTATE Terrace Freehold March 09, 2018 1,119 1,950,000-1,737 Unknown Resale THOMSON GARDEN ESTATE Terrace Freehold March 09, 2018 1,119 1,815,000-1,620 Unknown Resale WELLINGTON PARK Terrace Freehold March 09, 2018 1,776 2,880,000-1,620 1985 Resale District 21 HUME PARK II Condominium Freehold March 08, 2018 969 1,060,000-1,094 1997 Resale KISMIS RESIDENCES Terrace Freehold March 09, 2018 1,615 4,000,000-2,477 Uncompleted New Sale KISMIS RESIDENCES Terrace Freehold March 11, 2018 1,615 4,000,000-2,477 Uncompleted New Sale JALAN SELANTING Semi-Detached Freehold March 07, 2018 2,788 3,780,000-1,355 1998 Resale CHUN TIN ROAD Terrace Freehold March 09, 2018 1,851 2,800,000-1,517 1972 Resale SUMMERHILL Condominium Freehold March 08, 2018 1,604 1,990,000-1,241 2002 Resale THE BEVERLY Apartment Freehold March 13, 2018 1,130 1,490,000-1,318 2012 Resale THE BLOSSOMVALE Condominium 999 years March 08, 2018 840 1,335,000-1,590 1998 Resale THE BLOSSOMVALE Condominium 999 years March 09, 2018 840 1,362,000-1,622 1998 Resale THE HILLFORD Apartment 60 years March 07, 2018 506 590,000-1,166 2016 Resale TRANQUILIA @ KISMIS Terrace Freehold March 10, 2018 4,456 3,550,000-797 Uncompleted New Sale District 22 THE LAKESHORE Condominium 99 years March 09, 2018 861 940,000-1,092 2007 Resale THE MAYFAIR Condominium 99 years March 12, 2018 1,163 995,000-856 2000 Resale District 23 GLENDALE PARK Condominium Freehold March 09, 2018 1,313 1,500,000-1,142 2000 Resale GUILIN VIEW Condominium 99 years March 08, 2018 861 755,000-877 2000 Resale HILLINGTON GREEN Condominium 999 years March 09, 2018 1,356 1,480,000-1,091 2002 Resale HILLINGTON GREEN Condominium 999 years March 09, 2018 1,528 1,710,000-1,119 2002 Resale HILLION RESIDENCES Apartment 99 years March 07, 2018 463 768,000-1,659 2017 Sub Sale HILLSTA Condominium 99 years March 09, 2018 538 615,000-1,143 2016 Resale HILLVIEW REGENCY Condominium 99 years March 08, 2018 969 820,000-846 2005 Resale HILLVIEW REGENCY Condominium 99 years March 09, 2018 904 800,000-885 2005 Resale MERALODGE Condominium Freehold March 09, 2018 1,776 1,700,000-957 1997 Resale ELIZABETH DRIVE Terrace Freehold March 08, 2018 3,218 2,450,000-761 Unknown Resale PARK NATURA Condominium Freehold March 08, 2018 1,819 2,080,000-1,143 2011 Resale PARK NATURA Condominium Freehold March 09, 2018 1,776 2,120,000-1,194 2011 Resale YEW MEI GREEN EC 99 years March 08, 2018 1,335 915,000-686 2000 Resale District 25 NORTHWAVE EC 99 years March 09, 2018 1,270 1,021,000-804 Uncompleted New Sale NORTHWAVE EC 99 years March 09, 2018 1,130 834,100-738 Uncompleted New Sale NORTHWAVE EC 99 years March 11, 2018 893 768,000-860 Uncompleted New Sale ROSEWOOD SUITES Condominium 99 years March 07, 2018 1,259 1,000,000-794 2011 Resale WOODHAVEN Condominium 99 years March 13, 2018 624 650,000-1,041 2015 Resale District 26 FOREST HILLS CONDOMINIUM Condominium 99 years March 08, 2018 1,044 838,000-803 2003 Resale MEADOWS @ PEIRCE Condominium Freehold March 07, 2018 2,583 2,480,000-960 2012 Resale MUN WAH GARDEN Semi-Detached Freehold March 13, 2018 3,703 3,335,000-901 1995 Resale MANDAI ROAD Semi-Detached Freehold March 09, 2018 2,174 2,450,000-1,126 1997 Resale THONG SOON ROAD Terrace Freehold March 09, 2018 1,765 2,060,000-1,164 1976 Resale THE BROOKS I Apartment Freehold March 12, 2018 818 1,098,165-1,342 2016 Resale THE SPRINGSIDE Terrace Freehold March 09, 2018 3,068 3,890,000-1,267 2016 Resale THE SPRINGSIDE Terrace Freehold March 12, 2018 1,744 2,733,000-1,567 2016 Resale District 27 SIGNATURE AT YISHUN EC 99 years March 08, 2018 1,098 861,500-785 2017 New Sale SIGNATURE AT YISHUN EC 99 years March 09, 2018 1,098 919,500-837 2017 New Sale SIGNATURE AT YISHUN EC 99 years March 09, 2018 1,098 907,500-827 2017 New Sale SIGNATURE AT YISHUN EC 99 years March 09, 2018 1,098 925,500-843 2017 New Sale SIGNATURE AT YISHUN EC 99 years March 09, 2018 1,098 913,000-832 2017 New Sale SIGNATURE AT YISHUN EC 99 years March 10, 2018 1,098 923,500-841 2017 New Sale THE BROWNSTONE EC 99 years March 07, 2018 915 823,500-900 2017 New Sale THE CRITERION EC 99 years March 08, 2018 1,076 819,200-761 2018 New Sale THE CRITERION EC 99 years March 11, 2018 1,119 1,055,200-943 2018 New Sale THE ESTUARY Condominium 99 years March 08, 2018 1,453 1,350,000-929 2013 Resale THE SHAUGHNESSY Terrace 99 years March 12, 2018 3,283 1,500,000-457 2006 Resale District 28 BELGRAVIA VILLAS Terrace Freehold March 10, 2018 3,584 3,100,890-865 Uncompleted New Sale UPPER NERAM ROAD Semi-Detached 999 years March 09, 2018 3,670 4,180,000-1,138 Unknown Resale NIM COLLECTION Terrace 99 years March 11, 2018 3,046 3,388,000-1,112 Uncompleted New Sale PARC BOTANNIA Condominium 99 years March 07, 2018 506 663,000-1,311 Uncompleted New Sale PARC BOTANNIA Condominium 99 years March 08, 2018 506 680,000-1,344 Uncompleted New Sale PARC BOTANNIA Condominium 99 years March 09, 2018 506 657,000-1,299 Uncompleted New Sale PARC BOTANNIA Condominium 99 years March 11, 2018 592 823,000-1,390 Uncompleted New Sale RIVERBANK @ FERNVALE Condominium 99 years March 08, 2018 495 585,000-1,181 2017 Sub Sale SELETAR SPRINGS CONDOMINIUM Condominium 99 years March 08, 2018 1,335 933,000-699 2000 Resale SERENITY PARK Condominium Freehold March 12, 2018 1,098 1,188,888-1,083 1995 Resale DISCLAIMER: Source: URA Realis. Updated March 20, 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
EP10 EDGEPROP MARCH 26, 2018 GAINS AND LOSSES First transaction at St Regis Residences this year results in $2 mil loss BY BONG XIN YING The first transaction at St Regis Residences this year turned out to be the most unprofitable deal in the week of March 6 to 13, as revealed by the matching of URA caveat data as at March 20. A 1,507 sq ft, threebedroom unit on the 13th floor of the luxury project was sold for $3.68 million ($2,442 psf) on March 12 resulting in a $2.03 million (35%) loss for the previous owner, who purchased it for $5.68 million ($3,771 psf) in 2007. Completed in 2008, St Regis Residences is a 999-year leasehold project on Tanglin Road in prime District 10. It has 173 apartments and is located near the Orchard Road shopping belt, where the closest malls include Tanglin Shopping Centre and Tanglin Mall. The transaction on March 12 is the latest in a spate of unprofitable deals at the condominium. Last year, 10 units changed hands at an average loss of $1.13 million (20%) The only profitable transaction in 2017 was the sale of a 3,757 sq ft unit for $190,000 (2% profit) on Nov 28. Also in the prime district is freehold condominium 8 Napier, where the seller of a 2,013 sq ft, three-bedroom unit incurred a $925,000 (13%) loss on March The Suites at Central recorded the highest profit since 2012 8. The unit on the seventh floor was purchased in 2007 for $7.22 million ($3,589 psf) and sold for $6.3 million ($3,130 psf). There has been only one profitable transaction at 8 Napier on record: In 2017, a three-bedder fetched a profit of $93,945; it was bought at $7.24 million ($3,595 psf) in 2007 and sold for $7.33 million ($3,642 psf). The most profitable transaction during the week under review was the sale of a four-bedroom unit at The Suites at Central for $4.05 million ($2,240 psf) on March 8. Having bought the 1,808 sq ft condo for $2.83 million ($1,568 psf) in 2006, the seller made a $1.21 million (43%) profit. This is the highest profit for units sold at the development since 2012. In 2017, there were four profitable transactions with an average profit of $734,735 (28%) Located in prime District 9 within walking distance of the Somerset MRT station, The Suites at Central has seen only one unprofitable transaction since 2014, where the seller of a 1,475 sq ft unit suffered a $110,000 (4%) loss in September last year. At the freehold Richmond Park in the same district, the previous owner of a 1,012 sq ft unit made the second largest profit in the week under review. Bought at $1.66 million ($1,641 psf) in 2006, the property fetched a $1.14 million (69%) profit when it was sold for $2.8 million ($2,767 psf) on March 9. All three transactions at the 159-unit Richmond Park this year have resulted in profit for the sellers. The most profitable one was on Feb 1, when the seller of a 1,550 sq ft unit made a $2.22 million (97%) profit. He paid $2.28 million ($1,471 psf) for it in 2001 and sold it for $4.5 million ($2,903 psf). Richmond Park was completed in 1996 and is adjacent to The Paragon mall. E PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE Bought at $5.68 million, a 1,507 sq ft unit on the 13th floor at St Regis Residences was sold for $3.68 million on March 12 E Top 10 gains and losses from March 6 to 13 Most profitable deals PROJECT DISTRICT AREA (SQ FT) SOLD ON (2018) SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) PROFIT ($) PROFIT (%) ANNUALISED PROFIT (%) HOLDING PERIOD (YEARS) 1 The Suites at Central 9 1,808 March 8 2,240 July 17, 2006 1,568 1,213,623 43 3 11.6 2 Richmond Park 9 1,012 March 9 2,767 Oct 27, 2006 1,641 1,140,000 69 5 11.4 3 La Suisse 11 1,679 March 9 1,072 March 17, 2003 405 1,120,000 165 7 15.0 4 Landbridge Condominium 5 1,894 March 8 1,135 Sept 5, 2000 596 1,020,000 90 4 17.5 5 The Waterina 14 1,335 March 12 1,199 June 5, 2007 568 842,000 111 7 10.8 6 Fortune Jade 15 1,098 March 8 1,384 Dec 19, 2001 635 823,119 118 5 16.2 7 The Blossomvale 21 840 March 8 1,590 Oct 17, 2006 619 815,000 157 9 11.4 8 Grandeur 8 20 1,453 March 12 1,067 July 4, 2003 514 803,760 108 5 14.7 9 UE Square 9 710 March 12 1,689 Aug 5, 1999 641 744,950 164 5 18.6 10 Crescendo Park 15 1,432 March 12 1,153 April 1, 1995 643 730,000 79 3 23.0 URA, EDGEPROP Non-profitable deals PROJECT DISTRICT AREA (SQ FT) SOLD ON (2018) SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) LOSS ($) LOSS (%) ANNUALISED LOSS (%) HOLDING PERIOD (YEARS) 1 St Regis Residences Singapore 10 1,507 March 12 2,442 July 19, 2007 3,771 2,003,040 35 4 10.7 2 8 Napier 10 2,013 March 8 3,130 Dec 3, 2007 3,589 925,000 13 1 10.3 3 The Vermont On Cairnhill 9 1,432 March 9 2,130 April 20, 2010 2,584 650,000 18 2 7.9 4 Sanctuary Green 15 1,141 March 12 1,096 Dec 7, 2012 1,227 150,000 11 2 5.3 5 Trevista 12 1,141 March 7 1,113 Sept 4, 2012 1,227 130,000 9 2 5.5 6 Heritage Residences 15 441 March 12 1,235 July 5, 2011 1,432 87,000 14 2 6.7 7 Eastpoint Green 18 958 March 9 807 Nov 9, 2011 880 70,000 8 1 6.3 8 Espira Residence 15 1,550 March 8 835 Feb 13, 2012 871 55,000 4 1 6.1 9 Carissa Park Condominium 17 926 March 9 830 April 14, 2011 870 37,000 5 1 6.9 10 Spottiswoode Residences 2 797 March 8 1,955 Dec 13, 2010 1,994 30,500 2 0.3 7.2 Note: Computed based on URA caveat data as at March 20 for private non-landed houses transacted between March 6 and 13. The profit-and-loss computation excludes transaction costs such as stamp duties.
EDGEPROP MARCH 26, 2018 EP11 DEAL WATCH Three-bedder at Quinterra on Holland Road for sale at $2 mil ALBERT CHUA/THE EDGE SINGAPORE BY ANGELA TEO A three-bedroom-plus-study unit of 1,679 sq ft at the 99-year leasehold Quinterra on Holland Road is up for sale, with an asking price of $2 million ($1,191 psf). The Singaporean owners are selling the unit with vacant possession, as they have upgraded to a larger property, says Fanny Goh, associate group director at Orange Tee & Tie, who is handling the sale. Located on the second floor, the unit has an en suite master bedroom. The study in the master bedroom has been converted into a walk-in wardrobe, says Goh. The unit also has a Recent transactions at Quinterra Recent rental contracts for 1600 to 1700 sq ft units at Quinterra TABLES: URA, EDGEPROP CONTRACT DATE AREA (SQ FT) PRICE ($) PRICE ($ PSF) Dec 13, 2017 1,184 1,270,000 1,073 Nov 21, 2017 1,787 2,350,000 1,315 Oct 20, 2017 1,787 2,250,000 1,259 north-facing main door and an east-facing balcony. Similar three-bedroom units of 1,600 to 1,700 sq ft at Quinterra fetched monthly rents of between $4,300 and $6,500 from 2016 to 2017. This works out to a potential rental yield of 2.6% to 3.9%, based on the asking price of $2 million. In June and October 2017, two 1,679 sq ft units on the second and third floors were sold at $1.9 million ($1,132 psf) each. Goh notes that the $2 million asking price for the unit on the market is negotiable. The 55-unit Quinterra in prime District 10 was completed in March 2009. It comprises an 18-storey block and is next to the quiet, landed residential enclave of Mount Sinai and near the landed homes at Holland Grove. About 650m away is Jelita Shopping Centre, with amenities such as Cold Storage supermarket, Guardian pharmacy and International Medical Clinic. Also nearby is the lifestyle enclave of Holland Village and Chip Bee Gardens, known for F&B offerings such as ramen restaurant Sanpoutei. Quinterra is located within 1km of Henry Park Primary School. Other institutions nearby include Nexus International School (Singapore), Eunoia Junior College, Singapore Polytechnic, the National University of Singapore, Yale-NUS College and INSEAD. Developed by Singapore-listed property group Ho Bee Land, Quinterra was launched in July 2006 and fully sold within a year. E LEASE DATE MONTHLY RENT ($) February 2017 5,600 September 2016 4,900 August 2016 4,800 Similar units of 1,600 to 1,700 sq ft at Quinterra fetched monthly rents of between $4,300 and $6,500 from 2016 to 2017
EP12 EDGEPROP MARCH 26, 2018 PROP HUNT Properties for Sale & Lease Landed Scan QR code for more details To be featured, email annie.low@edgeprop.sg or call 9855-5282 $7,000,000 $7,000,000 $6,888,000 $5,300,000 Detached House Detached House Detached House Semi-Detached House UPPER EAST COAST ROAD Freehold Built-Up(sqft): 8,000 Land(sqft): 4,455 PSF: $1,571 SERANGOON GARDEN ESTATE Built-Up(sqft): 6,100 Land(sqft): 4,640 PSF: $1,509 KINGSWEAR AVENUE Built-Up(sqft): 6,100 Land(sqft): 4,648 PSF: $1,482 SURIN LANE Freehold Built-Up(sqft): 4,500 Land(sqft): 4,216 PSF: $1,257 Big and spacious designer decor finished. Huge wet and dry kitchen. All room ensuite. Swimming pool with pool bar. Lift to service all floors. Roof terrace with unblocked view. Park 5 cars easily. Walking distance to food centre. 2.5-storey. Private lift. Newly built in 2012. Quality natural marble slab feature-wall & bathroom. Park 2 cars. 2.5-storey detached house. 6+1 bedrooms with attached toilets. Modern design. Unique natural marble feature-wall. Quality furnishing. Unblocked balcony view. Beautiful 2-storey semi-detached house near Kovan MRT station. Lovely gardens. Dual entrances. Can park 2 cars. 100% move in condition. David Wang ERA REALTY NETWORK PTE LTD R024023D 65 9025 0911 Michelle Chua PROPNEX REALTY PTE LTD R047671H 65 9069 1188 Wendy Liew CS 2000 HOUSING PTE LTD R000054C 65 9855 5801 Esther Kan HUTTONS ASIA PTE LTD R008333C 65 9738 5952 $4,500,000 $4,000,000 $2,700,000 $2,500,000 Terrace House Detached House Terrace House Semi-Detached House SWISS VIEW 999 years Built-Up(sqft): 4,184 Land(sqft): 4,010 PSF: $1,122 BEECHWOOD GROVE 99 years Built-Up(sqft): 6,000 Land(sqft): 6,135 PSF: $652 SPRINGSIDE DRIVE Freehold Built-Up(sqft): 3,000 Land(sqft): 1,847 PSF: $1,462 JALAN KERAYONG Freehold Built-Up(sqft): 1,300 Land(sqft): 2,661 PSF: $939 2-sorey corner with basement. Wet & dry kitchen. Spacious with private garden. Close to Swiss Club, Turf City, German European School. Mins to PIE. Rectangular land. Main door SE facing. A/A done. 3-storey bungalow with pool. Near Singapore American School. Lots of space and yet close enough for local amenities - short walk to Supermarkets, eateries and Marsiling MRT Station. If you have a penchant for the finer things in life, look no further. Walking into this regal house with bespoke interiors, you will be immediately taken by the beauty and aura of elegance within. Single storey. 13m wide frontage. Great potential for A&A or rebuild to 3.5-storey. Cecilia Choo HUTTONS ASIA PTE LTD R007340J 65 9145 3396 Marcus Ng PROPNEX REALTY PTE LTD R009386Z 65 9327 4485 Han Sen Heng SRI PTE LTD R042735J 65 8318 8966 Nick Tan SRI PTE LTD R040814C 65 9644 4854 $2,080,000 $22,000/mth $12,000/mth $4,900/mth Terrace House Detached House Detached House Terrace House KEW AVENUE 99 years Built-Up(sqft): 3,000 Land(sqft): 1,765 PSF: $1,178 WHITLEY ROAD Freehold Built-Up(sqft): 7,100 Land(sqft): 81,300 PSF: $3 HOLLAND GROVE ROAD Freehold Built-Up(sqft): 3,700 Land(sqft): 7,500 PSF: $2 MOULMEIN ROAD Freehold Built-Up(sqft): 1,770 Land(sqft): 1,770 PSF: $3 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 + refurbished pool deck + huge garden. 1 huge house + 3 annexes. 4 rms + 4 rms + 1 helper rm. 3 huge living halls that links up, ideal for entertainment. 2-storey with deck pool and outdoor patios. High ground. 4 spacious ensuite rooms + family area + maid room + mature garden. Walk to Jelita Cold Storage, Star Vista Mall and Ghim Moh Market. Near Buona Vista MRT. Near Novena Mall and Goldhill Plaza. Quiet surroundings. Very convenient with nearby Novena MRT and Farrer Park MRT. Near good schools and restaurants. 2 MRT stops to Orchard Road. Lelia Lim SMP REALTY PTE. LTD. R018565I 65 9862 2528 Serene Chua CBRE REALTY ASSOCIATES PTE LTD R024344F 65 9819 9199 Estella Khoo NBI REALTY LLP R002454Z 65 9100 2299 Nellie Lim ERA REALTY NETWORK PTE LTD R054010F 65 9625 5518
EDGEPROP MARCH 26, 2018 EP13 PROP HUNT Properties for Sale Condominium Scan QR code for more details To be featured, email annie.low@edgeprop.sg or call 9855-5282 $2,300,000 $1,990,000 $1,890,000 $1,800,000 Caribbean At Keppel Bay Ivory Echelon OUE Twin Peaks KEPPEL BAY DRIVE, 98657 Singapore 99 years Bedroom: 3 Size(sqft): 1,421 PSF: $1,619 CEYLON LANE, 423468 Singapore Freehold Bedroom: 3 Size(sqft): 1,862 PSF: $1,069 ALEXANDRA VIEW, 158742 Singapore 99 years Bedroom: 3 Size(sqft): 1,001 PSF: $1,888 LEONIE HILL ROAD, 239197 Singapore 99 Years Bedroom: 1 Size(sqft): 570 PSF: $3,158 3-bedroom unit for ground floor and balcony lovers. Good size patio. Proper yard area for laundry. Selling with tenancy. Nestled in the much sought after Distict 15. Unblocked view of Marina Bay Sands. Walking distance to the Katong foodie scene. Fully renovated and well maintained. A very well renovated unit with clever design in usage of space. Balcony with an English colour scheme. Walking to Redhill MRT station and amenities is a breeze. Great location. High floor. Ideal layout. Big living, dining & kitchen areas. It is just walking distance away from Orchard MRT station. Angela Ng HUTTONS ASIA PTE LTD R042000C 65 9886 6220 Teck Wah Chan ERA REALTY NETWORK PTE LTD R058526F 65 9873 8102 Ronald Pang DISTRICT 65 PTE LTD P000831E 65 9772 6543 Paul Fam ERA REALTY NETWORK PTE LTD R007736H 65 8100 2280 $1,760,000 $1,480,000 $1,380,000 $1,310,000 Symphony Heights HUME AVENUE, 598739 Singapore Freehold Bedroom: 3 Size(sqft): 1,410 PSF: $1,248 Espada ST. THOMAS WALK, 238126 Singapore Freehold Bedroom: 1 Size(sqft): 560 PSF: $2,643 Sea Esta PASIR RIS LINK, 518156 Singapore 99 years Bedroom: 3 Size(sqft): 1,227 PSF: $1,125 Hillside Mansions HILLSIDE DRIVE, 548945 Singapore Freehold Bedroom: 3 Size(sqft): 1,194 PSF: $1,097 Freehold spacious 3-bedroom with maid room and balcony. North orientation. Pleasant move In condition. Bright and windy. Walking distance to Hillview MRT station and malls. 1-bedroom unit on high floor. Tastefully renovated. Big living and dinning areas. Well maintained. Minutes walk to Somerset MRT station. Rare dual key layout. Ideal for own stay and investment. High floor unit with an unblocked view of the pool. Spacious 3-bedroom + balcony unit. Nicely renovated with new kitchen, bathrooms, lightings, air cons and curtains. Prescealla Ong ERA REALTY NETWORK PTE LTD R024120F 65 9680 5383 Paul Fam ERA REALTY NETWORK PTE LTD R007736H 65 8100 2280 Nick Tan SRI PTE LTD R040814C 65 9644 4854 Eric Gan IMPERIAL REAL ESTATE PTE LTD R003804D 65 8448 4949 $1,168,888 $730,000 $650,000 $638,000 Riversound Residence Euphony Gardens Space @ Kovan Central Imperial SENGKANG EAST AVENUE, 544813 Singapore 99 Years Bedroom: 4 Size(sqft): 1,163 PSF: $1,005 JALAN MATA AYER, 759155 Singapore 99 years Bedroom: 2 Size(sqft): 1,076 PSF: $678 YIO CHU KANG ROAD, 545679 Singapore Freehold Bedroom: 1 Size(sqft): 431 PSF: $1,508 LORONG 14 GEYLANG, 398915 Singapore Freehold Bedroom: 2 Size(sqft): 505 PSF: $1,263 Located in one of the best stacks of the development. Tastefully renovated and very well maintained. Bright and well ventilated unit with no afternoon sun. 2-bedroom + storeroom + balcony. Spacious living/ dining area. Bright and breezy. Nice layout. Near lots of amenities. Full condo facilities. 1-bedroom unit located just off Serangoon Road. Very well maintained. 11 mins walk to Serangoon MRT station. 6 mins walk to Serangoon Active SG Stadium. Priced to sell. Near to city fringe and mins walk to MRT station. Easy access to PIE, KJE, MCE & ECP. High level with balcony. Price negotiable. Nick Tan SRI PTE LTD R040814C 65 9644 4854 Susie Chew ORANGETEE & TIE PTE LTD R025780C 65 9633 0494 Esther Teo PROPNEX REALTY PTE LTD R059017J 65 9072 1975 Daniel Goh PROPNEX REALTY PTE LTD R018994H 65 9681 1911
EP14 EDGEPROP MARCH 26, 2018 PROP HUNT Properties for Sale and Lease Condominium Business Space Scan QR code for more details To be featured, email annie.low@edgeprop.sg or call 9855-5282 $11,800/mth $3,500/mth $3,400/mth $2,700/mth Skyline @ Orchard Boulevard ANGULLIA PARK, 239975 Singapore Freehold Bedroom: 4 Size(sqft): 2,067 PSF: $6 Spring Grove GRANGE ROAD, 249567 Singapore 99 years Bedroom: 2 Size(sqft): 1,012 PSF: $3 Illuminaire on Devonshire DEVONSHIRE ROAD, 239900 Singapore Freehold Bedroom: 2 Size(sqft): 635 PSF: $6 Rezi 26 LORONG 26 GEYLANG, 398505 Singapore Freehold Bedroom: 2 Size(sqft): 840 PSF: $3 Spacious and bright unit. Luxury at the doorstep. Walking distance to Orchard MRT station. Near medical centers, International schools and American and Tanglin Clubs. Newly painted 2-bedroom unit with balcony. Partially furnished. Bright and breezy. Quiet facing. Full condo facilities. District 9 expat's choice unit. High floor. Serene and tranquil surroundings. Walking distance to Somerset MRT, Orchard shopping mall. Fully furnished. Immediate and flexible lease. Penthouse maisonette. 2 ensuite bedrooms. North facing. No noon sun. Pool and gym. 8 mins walk to Aljunied MRT station. Walk to eateries and food centre. Cecilia Choo HUTTONS ASIA PTE LTD R007340J 65 9145 3396 Wendy Liew CS 2000 HOUSING PTE LTD R000054C 65 9855 5801 Irene Leong KONG QUST REALTY (S) PTE LTD R008569G 65 9855 4903 Adam Wang FER PROPERTIES PTE LTD R011629J 65 9338 6502 $2,700/mth Ivory Heights JURONG EAST STREET 13, 600124 Singapore 99 years Bedroom: 3 Size(sqft): 1,614 PSF: $2 $2,600/mth Chelsea Grove MARTABAN ROAD, 328626 Singapore Freehold Bedroom: 2 Size(sqft): 990 PSF: $3 $2,600/mth Hillview Regency BUKIT BATOK EAST AVENUE 2, 659921 Singapore 99 years Bedroom: 2 Size(sqft): 969 PSF: $3 $2,100/mth The Tembusu TAMPINES ROAD, 535129 Singapore Freehold Bedroom: 1 Size(sqft): 484 PSF: $4 Spacious unit on a very high floor. Unblocked view of Chinese Garden. Very windy. Direct bus to NUS (20 mins) and One-North (25mins). Walking distance to JEM, Westgate, JCube. 2 spacious room with 2 toilets. Fully furnished. Minutes to Novena MRT station. Opposite Shaw Plaza, Balestier Plaza, Blestier market and eatries. Walk to Gobal Indian International School. Mins to Orchard Road. 2+1 with facility area and balcony. Designer's decor. Nice and cosy. Face greenery, bright and windy. Available on 1 April 2018. Short walk to Kovan MRT station. High floor unit. Near to amenities such as NTUC, Heartland Mall & Cold Storage. Many famous eateries nearby. Full facilities including tennis court. Lifestyle living. Ronald Pang DISTRICT 65 PTE LTD P000831E 65 9772 6543 Estella Khoo NBI REALTY LLP R002454Z 65 9100 2299 Estella Khoo NBI REALTY LLP R002454Z 65 9100 2299 Michael Wong HUTTONS ASIA PTE LTD R006996I 65 8838 6969 $500,000 $58,225/mth $6,000/mth $1,600/mth 162 Bukit Merah Central - Shop House For Sale BUKIT MERAH CENTRAL, 150162 Singapore 30 years Size(sqft): 840 PSF: $595 Tong Building - Office For Rental ORCHARD ROAD, 238862 Singapore Freehold Size(sqft): 6,850 PSF: $9 LHK Building - Factory For Rental SIMS DRIVE, 387383 Singapore Freehold Size(sqft): 3,153 PSF: $2 325 Woodlands Street 32 - Shop For Rental WOODLANDS STREET 32, 730325 Singapore Size(sqft): 200 PSF: $8 Good frontage, facing the road. Near Bukit Merah Hawker centre & NTUC FairPrice. Ample carpark lots nearby. Good lunch crowds & church crowds on Sat/Sun. New renovation for salon business. Great for corporate image. Surrounded by amenities and 5 mins to Orchard & Somerset MRT. Single level floor plate. Flexibility to subdivide into smaller units. High floor with unblocked view of orchard road. Partial fitted with washroom in the unit. New coat of paint. Provision shop with yellow box. Good human traffic area. Shop space front and back are openair carparks. Area loaded with 2 big coffee shops. 7-11, hair & beauty salons, pizza take away, clinic. Walking distance to Woodlands & Marsiling MRT. Michelle Chua PROPNEX REALTY PTE LTD R047671H 65 9069 1188 Cecilia Choo HUTTONS ASIA PTE LTD R007340J 65 9145 3396 Marcus Ng PROPNEX REALTY PTE LTD R009386Z 65 9327 4485 David Wang ERA REALTY NETWORK PTE LTD R024023D 65 9025 0911