http://www.theedgeproperty.com.sg/co...-sold-2397-psf

Hilltops unit sold for $2,397 psf
By Tan Chee Yuen / The Edge Property | June 7, 2016 10:00 AM MYT
Tags: Done DealsHilltops

A 1,335 sq ft, two-bedroom unit at the 241-unit Hilltops on Cairnhill Circle was sold for $3.2 million ($2,397 psf), according to a caveat lodged on May 17. The seller of the unit had purchased it for $3.34 million ($2,500 psf) in July 2009, thus recognising a loss of 4.1%. The $2,397 psf price is the lowest since July 2009, when two units in the development — an 807 sq ft, one-bedroom unit and another 1,335 sq ft, two-bedroom unit — were sold for $2,199 psf and $2,350 psf respectively.

Prior to the recent sale, the last transaction at Hilltops was a year ago, when a 1,593 sq ft, three-bedroom unit was sold for $4.84 million. Hilltops was completed by SC Global Developments in 2011, and the developer still has unsold units in the project. At the peak of the market in late 2007, a 2,465 sq ft, four-bedroom unit was sold for $11.86 million, or a record $4,812 psf.

Elsewhere in the luxury condominium scene, a 2,088 sq ft, three-bedroom- plus-study unit at Turquoise in Sentosa Cove was sold for $2.92 million ($1,398 psf) at Knight Frank’s auction on May 18. The unit was a mortgagee sale and the former owner had paid $5.46 million ($2,613 psf) for it in October 2007. At the recent sale price, the loss sustained by the seller was a staggering $2.54 million, or 46.5%.

http://www.theedgeproperty.com.sg/co...-sold-2397-psf