By Cecilia Chow, Tan Chee Yuen / The Edge Property | July 3, 2017 8:00 AM MYT
Tags: Scotts Square
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On June 20, a single buyer scooped up 20 one-bedroom units at Scotts Square at prices ranging from $1.76 million ($2,821 psf) for a unit on the 13th floor to $2.01 million ($3,220 psf) for a unit on the 30th floor, according to caveats lodged with URA Realis. The total purchase price for the units was $37.388 million, which translated into an average price of $2,966 psf based on the strata area.

The apartments are 624 and 635 sq ft and located on the 12th to 30th floors.

According to market sources, the buyer is an Indonesian who purchased the units via a private banker. It is unclear whether a bulk discount was given or whether there was a rebate on the additional buyer’s stamp duty (ABSD), which is 15% for foreigners. Even those who purchase residential units using a company or special-purpose vehicle will be subject to the 15% ABSD.

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