New Reporter
22-02-23, 10:03
China buyer picks up duplex penthouse at Klimt Cairnhill for nearly S$30 million
Feb 22, 2023
https://i.imgur.com/KNZWUTu.jpg
THE duplex penthouse unit occupying the top two floors of the 36-storey Klimt Cairnhill luxury condominium is being sold for close to S$30 million, The Business Times understands.
The price works out to nearly S$5,000 per square foot (psf) for the 5,920 square foot freehold unit; the strata area includes about 800 sq ft of void that creates a double-volume space in the living area.
Word on the street is that the buyer is from China. The option to purchase is understood to have been granted last week; the buyer beat the increase in the buyer’s stamp duty rate for residential properties announced in the Budget on Feb 14. The new rates kicked in the following day.
The duplex penthouse has five bedrooms, all en suite. The master bedroom has a walk-in wardrobe. The unit also has two study rooms, and a small jacuzzi will be fitted in the living-room balcony.
The project developed by property group Low Keng Huat has one other penthouse on level 36, which was sold in November 2021 for S$26 million, or S$5,308 psf on a strata area of 4,898 sq ft. That simplex unit has six bedrooms.
Both penthouses were sold without soft furnishings but, like all units in the project, will be fitted with kitchen appliances, wardrobes, sanitary ware and flooring.
Alvin Teo, an executive director at the mainboard-listed Low Keng Huat (Singapore) Limited, declined to comment on the penthouse transactions. However, he noted that 35 of the development’s 138 units have been sold.
The first unit in the project was sold in August 2021, when the group previewed the project; however, it was not marketed aggressively because the Covid safe-management measures made it difficult to showcase a high-end product in a showflat, said Teo.
China reopening helps, but buyers include other Asians
After the authorities lifted the remaining Covid measures affecting access to showflats last October, the group revamped the showflat for Klimt Cairnhill and relaunched the project early this month.
Asked about the nationalities of the buyers of the 35 units sold so far, Teo said: “While China opening its borders in January has helped Klimt Cainrhill draw some buyers, we also have a fair bit of buyers from Singapore and South-east Asia.”
Units in the development range from two-bedders to four-bedders, in addition to the two penthouses.
https://www.businesstimes.com.sg/property/china-buyer-picks-duplex-penthouse-klimt-cairnhill-nearly-s30-million
Feb 22, 2023
https://i.imgur.com/KNZWUTu.jpg
THE duplex penthouse unit occupying the top two floors of the 36-storey Klimt Cairnhill luxury condominium is being sold for close to S$30 million, The Business Times understands.
The price works out to nearly S$5,000 per square foot (psf) for the 5,920 square foot freehold unit; the strata area includes about 800 sq ft of void that creates a double-volume space in the living area.
Word on the street is that the buyer is from China. The option to purchase is understood to have been granted last week; the buyer beat the increase in the buyer’s stamp duty rate for residential properties announced in the Budget on Feb 14. The new rates kicked in the following day.
The duplex penthouse has five bedrooms, all en suite. The master bedroom has a walk-in wardrobe. The unit also has two study rooms, and a small jacuzzi will be fitted in the living-room balcony.
The project developed by property group Low Keng Huat has one other penthouse on level 36, which was sold in November 2021 for S$26 million, or S$5,308 psf on a strata area of 4,898 sq ft. That simplex unit has six bedrooms.
Both penthouses were sold without soft furnishings but, like all units in the project, will be fitted with kitchen appliances, wardrobes, sanitary ware and flooring.
Alvin Teo, an executive director at the mainboard-listed Low Keng Huat (Singapore) Limited, declined to comment on the penthouse transactions. However, he noted that 35 of the development’s 138 units have been sold.
The first unit in the project was sold in August 2021, when the group previewed the project; however, it was not marketed aggressively because the Covid safe-management measures made it difficult to showcase a high-end product in a showflat, said Teo.
China reopening helps, but buyers include other Asians
After the authorities lifted the remaining Covid measures affecting access to showflats last October, the group revamped the showflat for Klimt Cairnhill and relaunched the project early this month.
Asked about the nationalities of the buyers of the 35 units sold so far, Teo said: “While China opening its borders in January has helped Klimt Cainrhill draw some buyers, we also have a fair bit of buyers from Singapore and South-east Asia.”
Units in the development range from two-bedders to four-bedders, in addition to the two penthouses.
https://www.businesstimes.com.sg/property/china-buyer-picks-duplex-penthouse-klimt-cairnhill-nearly-s30-million