Grange Rd condo tops $4,000 psf benchmark
May 22, 2007
Grange Rd condo tops $4,000 psf benchmark
By Fiona Chan
A SMALL condominium on Grange Road has broken the $4,000 per sq ft (psf) price barrier at one of its units.
This makes Parkview Eclat only the second development in Singapore to reach these heights, after CapitaLand's high-profile Orchard Residences at Orchard Turn.
The remaining units that have been sold so far fetched lower prices, bringing the 35-unit project's average price to date to about $3,000 psf.
Developer Chyau Fwu Group sold one four-bedroom apartment over the weekend for 'almost $4,200 psf', it said yesterday.
The 16th-floor unit has an area of about 3,300 sq ft, taking the total price close to $13 million, Chyau Fwu senior executive Eddie Chow told The Straits Times.
Asking prices have risen by about 20 per cent since Parkview Eclat was first marketed six weeks ago - 'in line with the market', said Mr Chow.
Eighty to 90 per cent of buyers so far are foreigners, living either overseas or in Singapore. Among them are buyers from Indonesia, Hong Kong and Japan.
At least one buyer has purchased more than one unit, added Mr Chow.
Chyau Fwu is holding back the 10,000 sq ft super penthouse - and hopes to auction it off later at 'more than $5,000 psf', he said.
Another two duplex units, at 5,000 sq ft each, have price tags of nearly $5,000 psf.
Meanwhile, another luxury development in Leonie Hill Road is going down the auction route next month.
Three of the units on the top floors of Leonie Parc View will go under the hammer on June 8, developer Soilbuild Group Holdings said yesterday.
One is a 6,975 sq ft 'sky villa', while the other two are penthouses, of 2,906 sq ft and 3,003 sq ft.
The auction will be conducted by Colliers International and Christie's Great Estates exclusive affiliate Ken Jacobs, which in April successfully auctioned off 12 units of Botanika on Holland Road.
Colliers said yesterday that it expects the Leonie Parc View units to fetch between $3,200 psf and $3,600 psf, which will be a record for the Leonie Hill area.
So far, 18 of the condominium's 44 units have been sold at prices ranging from $2,600 psf to $3,000 psf, Soilbuild said.
Leonie Parc View will be the second uncompleted condominium to have units sold at an international auction, after Botanika.
Another developer, SC Global, has also said it will sell its last BLVD penthouse via auction at a later date.
Re: Grange Rd condo tops $4,000 psf benchmark
Re: Grange Rd condo tops $4,000 psf benchmark
Quote:
Originally Posted by beavis
IM NOT SURPRISE .....
$4,200 psf for a small unit. OK lah.
Penthouses will need $5,000 psf.
Re: Grange Rd condo tops $4,000 psf benchmark
$4,200 psf is the record?
Forget it lah.
St Regis has already broken it with $4,600 psf liao!
Re: Grange Rd condo tops $4,000 psf benchmark
Quote:
Originally Posted by Record Broken
$4,200 psf is the record?
Forget it lah.
St Regis has already broken it with $4,600 psf liao!
Recently, St Regis has 1 unit transacted S$28m for 6017 sf, that works out $4,653 psf.
Investor.
Re: Grange Rd condo tops $4,000 psf benchmark
Quote:
Originally Posted by Unregistered
Recently, St Regis has 1 unit transacted S$28m for 6017 sf, that works out $4,653 psf.
Investor.
Wah! Cheong liao lor!
