20181001 S EP 850 · 2018-09-28 · See our Cover Story on Pages 4 and 5. SAMUEL ISAAC CHUA/THE EDGE SINGAPORE. EP2 •EDGEPROP | OCTOBER 1, 2018 The Jovell launches on Sept 29 weekend

PROPERTY PERSONALISED

Visit EdgeProp.sg to nd properties, research market trends and read the latest news The week of October 1, 2018 | ISSUE 850-71

MCI (P) 047/08/2018 PPS 1519/09/2012 (022805)

Market TrendsKen Low’s high-stakes

move to SRI EP3

Gains and LossesUnit at Claremont

sold for $1.14 mil profi t EP6

Done Deals Private condo prices in District 21 driven up by

new launches EP8

Under the HammerSemi-detached house

in Bedok going for$7.5 mil EP10

SIMON CHEONGredefines luxury

SC Global Developments stays relevant by launching a new line of projects called ‘Petit Collectibles’,

featuring predominantly one- and two-bedroom units. See our Cover Story on Pages 4 and 5.

SAMUEL ISAAC CHUA/THE EDGE SINGAPORE

EP2 • EDGEPROP | OCTOBER 1, 2018

The Jovell launches on Sept 29 weekend The Jovell, a 428-unit condominium on Flora Drive,

off Upper Changi Road North, will be launched for

sale on Sept 29.

Buyers will be offered early-bird discounts at the

weekend launch. With the discounts, prices start from

$585,000 for a one-bedroom unit, and $1.52 million

for a four-bedder. Selling prices are at an average of

$1,200 to $1,400 psf.

Buyers can choose from one- to four-bedroom

units, ranging from 441 sq ft for a one-bedder, 635

sq ft for a two-bedder, 904 sq ft for a three-bedder to

1,270 sq ft for a four-bedder.

The Jovell is a 99-year leasehold development in

District 17, and is jointly developed by Hong Leong

Holdings, City Developments and TID. The condo

sits on 242,558 sq ft of land and comprises nine res-

idential blocks with eight levels each.

The development is expected to receive Tempo-

rary Occupation Permit by Aug 1, 2023.

Two restored shophouses on Tras Street for sale at $22.6 mil Two restored three-storey conservation shophouses with

attic located on Tras Street are up for sale at a total guide

price of $22.6 million. This reflects a rate of $2,800 psf

based on the total gross floor area of 8,070 sq ft.

The 99-year leasehold shophouses have land areas

of 1,298 sq ft and 1,494 sq ft individually, and guide

prices of $10.8 million and $11.8 million, respective-

ly. The properties can be sold either collectively or

individually.

According to the exclusive marketing agent JLL,

the properties were renovated for over $1 million each

and are currently fully tenanted. F&B tenants occupy

the ground floor of both properties, while the upper

floors are leased to a serviced apartment operator.

The properties sit on land zoned “commercial”

under the Tanjong Pagar Conservation Area. For-

eigners are eligible to purchase them, with no ad-

ditional buyer’s stamp duty or seller’s stamp duty

imposed.

The shophouses are located in the prime Tanjong

Pagar precinct and are 200m from Tanjong Pagar MRT

station on the East-West Line.

The expression of interest (EOI) exercise will close

on Nov 1.

Upper East Coast site for landed housing up for en bloc sale A freehold redevelopment site for three-storey mixed

landed housing on Upper East Coast (above, left) is

up for collective sale at an asking price of $26 mil-

lion ($914 psf).

With a site area of about 28,449 sq ft, the prop-

erty currently comprises two double-storey semi-de-

tached houses. It is zoned for three-storey mixed

landed housing under the 2014 Master Plan, accord-

ing to sole marketing agent Edmund Tie & Co (ET&-

Co). It can be redeveloped into any combination of

detached, semi-detached and terrace houses, either

based on conventional housing types or as a cluster

housing development, subject to planning approval.

“Sizeable sites for landed housing development

are rarely available,” says Swee Shou Fern, senior di-

rector of investment advisory at ET&Co.

The site is located about 350m from the upcoming

Sungei Bedok MRT interchange on the Downtown

Line and Thomson-East Coast Line. It is also a short

drive from Changi Business Park and Changi Airport.

The tender exercise will close on Oct 31.

Portfolio of nine HDB shops and shophouses up for sale Nine HDB shops and shophouses have been launched

for sale at an asking price of $34 million.

The total strata area of the nine units is 13,343 sq

ft. They are currently fully tenanted.

The properties are located in the mature resi-

dential estates of Ang Mo Kio, Toa Payoh, Bedok,

Tampines, Changi Village, Yishun and Ubi. Accord-

ing to sole marketing agent CBRE, they are in their

respective town centres, have high pedestrian traf-

fic, and are close to MRT stations, bus interchang-

es and food centres.

Sammi Lim, director of capital markets at CBRE,

says it is “rare” for an HDB commercial portfolio in

mature estates to be available for sale. She believes

it will appeal to investors and end users, “especial-

ly when there are only about 8,500 HDB shophouses

that can be resold on the private market”.

Buyers have the option to purchase the shops on

an individual basis or all the nine shophouses un-

der one portfolio.

The EOI exercise will close on Oct 31.

Jui Residences has sold 25% of units since launch weekend The 117-unit Jui Residences on Serangoon Road was

launched for sale over the weekend of Sept 22 (above,

right), with more than 29 units sold as at Sept 25.

This accounts for about 25% of the total number of

units at the development.

The freehold development is by Malaysian-listed

property developer Selangor Dredging Bhd. The lat-

ter says the “strong interest” in Jui Residences stems

from it being a “freehold development at leasehold

prices”. So far, units have been sold at an average

price of about $1,700 psf.

Most of the units at the single 18-storey tower

that have been snapped up are one-bedroom units

of 431 to 463 sq ft, priced from $700,000, as well as

two-bedroom units of 657 to 710 sq ft, priced from

$1.1 million. There are also three-bedroom units of

883 to 1,001 sq ft, from $1.47 million.

The new development sits on the site of the for-

mer National Aerated Water Co bottling factory, and

will incorporate the main building of the historical

factory into the façade of the new development. Jui

Residences faces a wide frontage of the Kallang Riv-

er, which is being rejuvenated.

Jui Residences is expected to be completed

in 2022.

Tuan Sing invests in new mixed-use development in Hainan, China Singapore-listed Tuan Sing Holdings, a property

development and investment company, has ac-

quired a 7.8% stake in Sanya Summer Real Estate

for RMB75 million ($15 million). SSRE is a property

development company based in Hainan, China. The

incumbent stakeholder of SSRE is Hainan Summer

Property Development, a property developer and op-

erator of two retail malls in the island province.

SSRE plans to develop a mixed-use project on a

622,573 sq ft plot in Hainan. The new integrated de-

velopment (below) will comprise commercial, resi-

dential, hotel and retail components, and will have

a saleable and leasable area of about 2.6 million sq

ft. The development will include an interior shop-

ping street, a hotel, apartments, event hall, cinema,

playground and sky garden. It will have an integrat-

ed long-distance bus interchange hub and will also

be connected to the adjacent Sanya High-Speed Rail-

way Station.

The development cost of the project is about RMB1.6

billion and its gross development value, RMB5 billion.

It is expected to be completed by the end of 2021.

The investment is an important step in Tuan

Sing’s transformation “from niche developer to a

major regional player with a presence in commer-

cial, residential and hospitality properties in vari-

ous key Asian cities across Singapore, China, Indo-

nesia and Australia”, says William Liem, CEO of

Tuan Sing Holdings.

ERA on shopping spree: latest collaboration with HSR International Less than a week after its collaboration with CBRE

Realty on Sept 20, Singapore’s second-largest agency

in terms of sales force — ERA Realty Network —

struck another similar collaboration, this time with

HSR International Realtors.

On Sept 25, associates from HSR International Re-

altors received a welcome letter from ERA. “We be-

lieve that this collaboration is monumental as both

companies are committed to providing excellent ser-

vice and customer satisfaction,” according to part of

the letter sighted by EdgeProp Singapore.

Last week’s collaboration with CBRE meant 290

agents could cross over to ERA, bringing the latter’s

sales force to 6,500 agents. With HSR International’s

latest headcount at 375 agents, the latest collabora-

tion will propel ERA’s total sales force to 6,875 agents.

This will further narrow the gap between ERA and

PropNex, which is currently in pole position with

7,542 agents as at Sept 24. — Compiled by Bong Xin

Ying, Charlene Chin and Timothy Tay

PROPERTY BRIEFS

EDITORIALEDITOR | Cecilia ChowCONTRIBUTING EDITOR |Pek Tiong GeeWRITERS | Timothy Tay, Bong Xin Ying, Charlene ChinDIGITAL WRITER | Fiona Ho

COPY-EDITING DESK | Elaine Lim, Evelyn Tung, Chew Ru Ju, Shanthi MurugiahPHOTO EDITOR | Samuel Isaac ChuaPHOTOGRAPHER | Albert ChuaEDITORIAL COORDINATOR | Yen TanDESIGN DESK | Tan Siew Ching, Christine Ong, Monica Lim, Tun Mohd Zafi an Mohd Za’abah

ADVERTISING + MARKETING ADVERTISING SALES

DIRECTOR, COMMERCIAL OPERATIONS | Diana LimSENIOR ACCOUNT MANAGERS |Janice Zhu, James ChuaACCOUNT MANAGER |Pang Kai XinSALES STRATEGIST |Han YaoGuang

CIRCULATIONDIRECTOR | Dominic Kevin SimMANAGER | Bryan KekEXECUTIVES | Malliga Muthusamy, Ashikin Kader

CORPORATE CHIEF EXECUTIVE OFFICER | Bernard Tong

PUBLISHERThe Edge Property Pte Ltd150 Cecil Street #13-00Singapore 069543Tel: (65) 6232 8688Fax: (65) 6232 8620

PRINTERKHL Printing Co Pte Ltd57 Loyang DriveSingapore 508968Tel: (65) 6543 2222Fax: (65) 6545 3333

PERMISSION AND REPRINTSMaterial in The Edge Property may not be reproduced in any form without the written permission of the publisher

We welcome your commentsand criticism: [email protected]

Pseudonyms are allowed but please state your full name, address and contact number for us to verify.

ET&CO SELANGOR DREDGING BHD

TUAN SING HOLDINGS

E

MARKET TRENDS

EDGEPROP | OCTOBER 1, 2018 • EP3

Ken Low’s high-stakes move to SRI| BY CECILIA CHOW |

Until he left Huttons Asia on Sept 3, Ken

Low was famous for leading one of

the biggest teams of real estate agents

at the company. With 3,400 agents,

Huttons Asia is the fourth largest in

Singapore in terms of sales force. Low created

a stir when it was announced on Sept 4 that

he was joining SRI, the up-and-coming real-

tor with 290 agents.

At the point of his exit, the eponymous

Ken Low Group (KLG) at Huttons Asia had

430 agents specialising in project marketing.

It was thus a high-stakes move for Low, who

had been with Huttons Asia for seven years.

As the newest managing partner of SRI,

Low is bringing with him his expertise in pro-

ject marketing. “I resigned to start the plan-

ning process at SRI so that everything will be

in place for new agents joining the firm,” says

the 35-year-old.

New business With Low on board, SRI is estimating that close

to 300 new agents will be joining the firm —

not just from KLG but other agencies as well.

Eight developers with more than 30 projects

— both existing and new launches — have

signed up SRI as a marketing agency.

“We had a lot of calls since the announce-

ment of Ken’s move,” says Bruce Lye, man-

aging partner of SRI. “While there’s consoli-

dation in the market, there’s also expansion.”

As a niche realtor, SRI thus far has been fo-

cusing mainly on the resale market, particular-

ly prime residential property. However, it has

also brokered several sizeable transactions at

launches of luxury condominium projects. For

instance, SRI was the realtor that brokered the

sale of the first penthouse at Marina One Res-

idences — a 6,469 sq ft unit that was sold for

$18 million ($2,782 psf), according to a caveat

lodged in June. Meanwhile, an SRI agent bro-

kered the sale of a 6,728 sq ft, five-bedroom

penthouse at South Beach Residences for $26

million ($3,864 psf) in September.

SRI is also marketing the biggest penthouse

in Sentosa Cove — an 8,095 sq ft duplex pent-

house at The Oceanfront that is on the market

for $13 million ($1,606 psf).

Follow the hairstylistAnecdotally, Low’s move to SRI is partly attrib-

uted to the relocation of his hairstylist, whose

salon, The Lawn Hairdressing, moved from a

shophouse on Arab Street to Eng Watt Street

in Tiong Bahru sometime last year. “I cut my

hair as often as I shave — which is once every

fortnight,” says Low, who is equally famous

for being well coiffed.

The Lawn Hairdressing happens to be ad-

jacent to SRI’s sales gallery and office on Eng

Watt Street. “I bumped into them [the man-

aging partners of SRI] a lot,” says Low. “We

had known each other for a long time, and

we usually talked about the property market

when we met. Over the last few months, we

realised we were on the same frequency about

a lot of things.”

SRI managing partners and controlling

shareholders, Lye, 35, and Benson Koh, 36,

co-founded their firm, formerly known as

SRI5000 in 2010. At the time, SRI5000 was

a division of SLP International, and special-

ised in marketing high-end condos and land-

ed homes.

Lye and Koh decided to strike out on their

own in 2016, and changed the name of the firm

to SRI. Joining SRI then was Tony Koe, former

executive director of SLP International, who

came on board as managing director and has

been heading the agency business.

Another former SLP International senior

executive, Tricia Teo, joined SRI in January

2017. She had been with SLP International

for over 14 years and specialised in market-

ing industrial property. Her last position at

the firm was deputy managing director. Teo

joined SRI as managing director of special pro-

jects and since January 2018, she has been

director of SRI’s property development busi-

ness, FiveK Projects.

‘Looking for fresh ideas’Since the property cooling measures kicked

in on July 6, homebuyers are taking longer to

decide on a purchase. “As a result, residential

transaction volume has dropped,” says Low.

The shrinking transaction volume has made

the project marketing business more competi-

tive. “We see a trend where developers some-

times appoint five to six agencies for a sin-

gle project,” says Low. “Having more agents

marketing a project will have a dilutive effect

on sales.”

Property players — both developers and

agents — are “looking for fresh ideas” when it

comes to the marketing of projects, says Low.

“We could be a game changer.”

DifferentiationDigital-savvy agents are looking for ways to

differentiate themselves and stand out from

the rest of the pack, says Low. “Equipping

agents with strong digital capabilities will al-

low them to unlock new demand and gener-

ate more leads.”

And this is where SRI seeks to make its

mark — by equipping its agents with a digital

platform that allows them to access their cli-

ents’ property portfolios, says Koh. They will

then be able to monitor their clients’ portfoli-

os to see if there are any properties with leases

that are expiring and follow up with the own-

er on whether he wishes to renew the lease

or sell the property.

“It’s a great platform for agents,” says Low.

“We can also leverage this technology to help

developers handle the back-end of their pro-

ject sales. It’s something that I’m looking for-

ward to.” E

From left: SRI managing partners Ken Low, Tony Koe, Tricia Teo, Benson Koh and Bruce Lye

SAMUEL ISAAC CHUA/THE EDGE SINGAPORE

COVER STORY


| BY CECILIA CHOW |

A battered tennis racquet enshrined

in a glass case sits among prized art

pieces in Simon Cheong’s tastefully

furnished lounge at his head office

in Newton 200. The smashed-up

racquet is a token of American profession-

al tennis player Serena Williams’ tantrum at

a match in the WTA Finals in Singapore in

October 2014, says Cheong, the founder and

chairman of SC Global.

His firm, SC Global Developments, is the

presenting sponsor for the BNP Paribas WTA

Championships in Singapore from 2014 to

2018. Cheong put the racquet up for sale at

a charity auction. “When prices went up, we

bid for it too and took it back because we

wanted it,” he says.

Few people can make a battered tennis

racquet look like $1 million; Cheong is one

of them. “Luxury is an art, not a science,”

he says.

Small is luxuriousSC Global, which has positioned itself as a

luxury property developer, has two projects

in the pipeline. They will be launched under

SC Global’s new line of projects — Petit Col-

lectibles — that features predominantly one-

and two-bedroom units. The name was not an

afterthought but had been thought-through

over the past few years,” says Cheong. He

has even had the name ‘Petit Collectibles’

and variations of it trademarked.

The hallmark of the Petit Collectibles se-

ries will be units that offer living spaces with

“flexible functionality”. It also rides the suc-

cess of SC Global’s earlier projects that fea-

ture smaller luxury apartments, for instance,

Martin No. 38, Thr3e Thre3 Robin and The

Lincoln Modern. “SC Global’s apartments

have often been referred to as ‘collectibles’

because they are limited in edition and re-

freshingly original in design,” says Cheong.

The first project in the Petit Collectibles

line is a redevelopment of the former Jer-

vois Gardens, for which SC Global paid $72

million in September last year. The price for

the 34,038 sq ft, freehold site translates into

$1,373 psf per plot ratio (ppr). Cheong was

already familiar with the location of Jervois

Gardens prior to its purchase. “I like the site

for its serenity,” he says. “It’s surrounded

by lovely bungalows and a lot of greenery.”

Another attraction is its proximity to the

Alexandra Park Connector that stretches from

Tanglin Road to Zion Road, and is linked to

the Queensway Park Connector, which leads

all the way to the Singapore River. “We went

there many times,” says Cheong. “My wife

and I walked on the park connector, and when

I had clocked the required number of steps,

we went to Zion Road for char kway teow.”

To Cheong, it was important “to feel the

site”. He adds, “I think this will be a lovely

project for young people who want an active

lifestyle. They can bring their bicycles or jog-

ging shoes and hit the park connector trails.”

Younger buyersNamed Petit Jervois, the new 55-unit pro-

ject will be the first in the Petit Collectibles

line. The boutique, low-rise development is

designed by niche architectural firm RT+Q,

which has also designed several of Cheong’s

bungalows under his SC Homes brand.

Targeted for launch at year-end, the units

in Petit Jervois will be mainly in the 800-to-

1,000 sq ft range. Prices are likely to start

from $2,800 to $3,000 psf.

The other site for the Petit Collectibles line

is on Cuscaden Road. It was purchased in a

government land tender for $410 million in

April this year. SC Global acquired the site

jointly with two Hong Kong groups: Far East

Consortium and New World Development. The

price of the 61,597 sq ft, 99-year leasehold site

worked out to $2,377 psf ppr, which is a record

price for a government land site. “99 years is

a long time,” says Cheong. “We are running

out of freehold sites, so the next best alter-

native is to bid for 99-year leasehold sites.”

To Cheong, the shift in demand was evi-

dent when smaller units in SC Global’s port-

folio of projects were fully sold. It is also a

trend observed in other global cities such as

London and New York, he says. “We decided

that Petit Collectibles will be our answer to

a market that wants SC Global products but

at smaller unit sizes.”

The profile of the typical buyer of a luxu-

ry condominium has also changed over the

past two decades. “When we first started,

a wealthy buyer looking for a luxury apart-

ment was typically someone in the 45-to-50

age range,” says Cheong. “The buyer today

is younger, probably in the early- to mid-30s.

They tend to be be successful, well travelled

and are looking for something interesting.”

‘Better off as a private company’Cheong is known for commanding premium

pricing for his projects. “But we are not mad,”

Cheong: We push the boundaries on quality, and the price will take

care of itself

The 34-unit Sculptura Ardmore. Facebook co-founder Eduardo Saverin and his wife own the super penthouse, which was purchased for $60 million.

PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE

SIMON CHEONGREDEFINES LUXURYSC Global Developments stays relevant by launching a new line of projects called ‘Petit Collectibles’, featuring predominantly one- and two-bedroom units

COVER STORY


he says. “We are not holding on to prices for

the sake of holding on. Why should we sell

at a price that is below replacement cost?”

The latest round of property cooling

measures on July 6 has increased the cost

of development. With immediate effect, de-

velopers have to pay 5% additional buyer’s

stamp duty upfront when they purchase a

site. If they do not develop and sell all the

units within five years, they will have to pay

25% ABSD, up from 15% before. Another

consequence of the latest property cooling

measures is that the number of players in the

luxury segment will shrink further. “Fewer

people will want to enter this segment,” says

Cheong. “But we are already in this market

and we intend to stay.”

According to Cheong, SC Global is not

only in real estate, but in the lifestyle busi-

ness too. “If we had remained a public list-

ed company, we wouldn’t have had the free-

dom to build the way we do: like craftsmen,

taking our time to design the right project.

We don’t see our projects as a commodity.

That’s why we are better off as a private

company.”

SC Global was privatised in January 2013

in a deal that valued the company at $745

million. The company was delisted in March

2013. The move is reported to have saved

about $56 million in extension charges under

the conditions of the Qualifying Certificate.

The QC requires foreign companies (which

include listed companies and corporate en-

tities with at least one foreign sharehold-

er) that hold their properties for more than

two years after completion to pay extension

charges pro-rated based on unsold units.

‘Fine balance’Cheong, a former banker, founded SC Glob-

al in 1996. His maiden project was The

Ladyhill, which was launched in 2000 and

set a new benchmark for upscale apart-

ments in Singapore. The Ladyhill, which

has 55 units, was designed by Chan Soo

Khian of SCDA Architects and completed in

2002. It has seven four-storey blocks, with

a mix of four- and five-bedroom units of

2,325 to 4,187 sq ft.

The launch of The Ladyhill was followed

by that of the 56-unit Lincoln Modern, which

was completed in 2003; the 36-unit Thr3e

Thr3e Robin and 46-unit The Boulevard Res-

idence on Cuscaden Walk, both of which

were completed in 2005.

In 2007, SC Global rolled out The Marq

on Paterson Hill. The 66-unit freehold de-

velopment is still the epitome of luxury, and

commanded a record price of $6,842 psf in

November 2011. It still holds the record for

the highest psf price paid.

“Even today, every time I go to The Marq

— whether it’s in the day or night — I feel

we got it right: achieving the feeling of lux-

ury,” says Cheong.

The Marq was launched at the peak

of the last property boom, when the mar-

ket favoured luxury projects with sizeable

units. At the development’s Premium Tow-

er, four-bedroom units of about 3,000 sq ft

start from $10 million. Meanwhile, units at

the Signature Tower are at least 6,200 sq ft

and come with a 15m lap pool. Prices are

upward of $21 million.

SC Global’s other recent luxury condo

projects include the 241-unit Hilltops on

Cairnhill Circle, which was completed in

2011; the 41-unit Seven Palms in Sentosa

Cove, completed in 2013; and the 34-unit

Sculptura Ardmore on Ardmore Park, com-

pleted in 2014.

Pushing the boundariesAt Sculptura Ardmore, the 10,300 sq ft su-

per penthouse was purchased in Septem-

ber last year by Facebook co-founder and

Singapore’s second richest person, Eduar-

do Saverin, who paid over $60 million, or

more than $6,000 psf, for it.

One other unit at Sculptura Ardmore has

been sold, based on caveats lodged. The 2,982

sq ft unit on the 10th floor fetched $12.44

million ($4,171 psf) last October.

So far, SC Global has developed and com-

pleted nine luxury condo projects in Singa-

pore. According to Cheong, the developer was

the first to offer loft-style living at Lincoln

Modern. It offered an open-kitchen concept

for the apartments at Thr3e Thre3 Robin long

before it became fashionable in the city state.

It was the first to bring warehouse-style liv-

ing to Singapore at Martin No. 38. And the

Signature Tower at The Marq was the first

project to feature a private swimming pool

for every unit on every floor of a high-rise

tower, Cheong points out.

To him, quality is still of utmost impor-

tance. “I personally go through all the details

in my developments,” he says. “We man-

age our own projects and continue to main-

tain the developments even after we sell the

units. There are no short cuts. We push the

boundaries on quality, and the price will

take care of itself.”

SC Global’s maiden project was the 55-unit The Ladyhill. It was designed by Chan Soo Khian of SCDA Architects and completed in 2002.

The fully sold 88-unit Martin No. 38, SC Global’s luxury warehouse-style apartments on Martin Place

The 66-unit ultra-luxury The Marq on Paterson Hill.A unit was sold for $6,842 psf in November 2011, which is still a record psf price today.

SC Global’s 41-unit Seven Palms in Sentosa Cove

The 241-unit Hilltops on Cairnhill Circle was completed in 2011

SC GLOBAL

Artist’s impression of the 55-unit Petit Jervois, the first in a series of projects under SC Global’s new Petit Collectibles line

SC GLOBAL

SC GLOBAL

E

GAINS AND LOSSES


Unit at Claremont sold for $1.14 mil profit

E

| BY BONG XIN YING |

At Claremont on Killiney Road in

prime District 9, the seller of a

three-bedroom unit made the

highest gain of $1.138 million for

transactions done over the week

of Sept 11 to 18. The 1,453 sq ft unit on the

second floor was purchased for $1.33 mil-

lion ($917 psf) in July 1999 when it was first

launched for sale. It was sold for $2.47 mil-

lion ($1,700 psf) on Sept 18.

The seller raked in a profit of 85%, or

an annualised profit of 3% over a hold-

ing period of 19.2 years. This is the first

resale transaction at Claremont this year,

and is also the all-time highest resale prof-

it at the condo. The previous resale trans-

action at Claremont was in November last

year, when a 990 sq ft, two-bedroom unit

on the eighth floor was sold for $1.508 mil-

lion ($1,523 psf). The unit was previously

purchased for $900,000 in July 1999. The

seller made a 68% profit of $608,000, or an

annualised profit of 3% over an 18.4-year

holding period.

The second-highest gain at the develop-

ment was made four years ago by the seller

of a 1,453 sq ft unit on the sixth floor. It was

bought for $1.2 million ($826 psf) in June

1999 and sold for $2.29 million ($1,575 psf)

in August 2014, netting the seller a 91% prof-

it of $1.09 million over 15.2 years.

There have been 32 profitable and six un-

profitable transactions at Claremont since

1999, with profits ranging from $94,000

to $1.138 million and losses ranging from

$36,000 to $472,000. Claremont is a free-

hold, 67-unit development by Allgreen Prop-

erties. The 10-storey condominium has a

range of units, from 990 sq ft two-bedroom

apartments to penthouses that start from

1,378 sq ft.

Meanwhile, the second-highest gain — a

profit of $1.043 million, or 83% — made dur-

ing the week in review was at Thomson 800,

on Thomson Road in District 11. The condo

is an eight-minute walk from Caldecott MRT

station on the Circle Line and a one-minute

drive from MacRitchie Reservoir Park. The

1,625 sq ft, three-bedroom unit on the 17th

floor was purchased for $1.26 million ($775

psf) in February 2002 and sold for $2.3 mil-

lion ($1,417 psf) on Sept 13. The seller made

an annualised profit of 4% over 16.6 years.

Over the same week in review, the sale of

another unit at Thomson 800 was the third

most profitable transaction. The seller raked

in a profit of $1.04 million, or 107%. The

1,410 sq ft, three-bedroom unit was bought

for $970,000 ($688 psf) in January 2002 and

sold for $2.01 million ($1,425 psf) on Sept

14. The seller made an annualised profit

of 4% over a holding period of 16.7 years.

The highest profit at Thomson 800 was

reaped by the seller of a 5,791 sq ft pent-

house unit six years ago. It was bought for

$4 million ($691 psf) in January 2010 and

sold for $5.5 million ($950 psf) in Novem-

ber 2011, giving the seller a 38% profit of

$1.5 million over 1.8 years.

Including the two latest resale transac-

tions, there have been a total of nine trans-

actions at the development this year, eight

of which were profitable.

Completed in 1999 and developed by

Property Enterprises Development, a sub-

sidiary of Cheung Kong Group, the 390-unit

Thomson 800 was Hong Kong tycoon Li Ka-

shing’s first residential project in Singapore.

It comprises a four-storey block and three

20-storey blocks.

The greatest loss incurred over the week

in review was from the resale of a 1,668 sq

ft, three-bedroom unit at the 99-year lease-

hold The Azure in District 4. Purchased in

a sub-sale in July 2007 for $3.17 million

($1,900 psf), the property was sold on Sept

18 for $2.5 million ($1,498 psf). The seller

incurred a 21% loss of $669,200, or an an-

nualised loss of 2% over a holding period

of 11.1 years. The Azure, on Ocean Drive in

Sentosa Cove, was completed in 2008 and

comprises 116 units.

Top 10 gains and losses from Sept 11 to 18

URA, EDGEPROP

Most profi table deals (non-landed)

Note: Computed based on URA caveat data as at Sept 25 for private non-landed houses transacted between Sept 11 and 18. Th e profi t-and-loss computation excludes transaction costs such as stamp duties.

Non-profi table 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 Th e Azure 4 1,668 Sept 18 1,498 July 30, 2007 1,900 669,200 21 2 11.1

2 Refl ections at Keppel Bay 4 1,259 Sept 13 1,405 April 25, 2007 1,589 231,812 12 1 11.4

3 One Shenton 1 904 Sept 12 1,747 Aug 3, 2007 1,940 174,040 10 1 11.1

4 Rhapsody on Mount Elizabeth 9 1,044 Sept 13 1,973 Dec 20, 2011 2,088 120,000 6 1 6.7

5 Th e Hillier 23 818 Sept 14 1,332 March 29, 2012 1,435 84,313 7 1 6.5

6 Th e Hillier 23 624 Sept 18 1,281 Feb 23, 2012 1,402 75,086 9 1 6.6

7 Sims Green 14 958 Sept 17 846 Sept 7, 2012 919 70,000 8 1 6.0

8 Melville Park 18 1,044 Sept 14 728 April 17, 2014 790 65,000 8 2 4.4

9 Hedges Park Condominium 17 1,076 Sept 17 818 May 29, 2013 871 57,100 6 1 5.3

10 Terrene at Bukit Timah 21 1,421 Sept 13 1,301 April 1, 2013 1,323 31,112 2 0.3 5.5

PROJECT DISTRICT AREA (SQ FT) SOLD ON (2018) SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) PROFIT ($) PROFIT (%) ANNUALISED PROFIT (%) HOLDING PERIOD (YEARS)

1 Claremont 9 1,453 Sept 18 1,700 July 8, 1999 917 1,138,000 85 3 19.2

2 Th omson 800 11 1,625 Sept 13 1,417 Feb 27, 2002 775 1,042,800 83 4 16.6

3 Th omson 800 11 1,410 Sept 14 1,425 Jan 6, 2002 688 1,040,000 107 4 16.7

4 Caribbean at Keppel Bay 4 1,227 Sept 14 1,548 April 28, 2006 761 966,340 104 6 12.4

5 Th e Calrose 26 1,238 Sept 18 1,388 July 22, 2005 629 940,000 121 6 13.2

6 Th e Quayside 9 1,389 Sept 18 1,400 Dec 19, 2006 763 884,600 83 5 11.8

7 Kovan Melody 19 1,313 Sept 17 1,164 Oct 1, 2004 506 862,900 130 6 14.0

8 Moonstone Residences 12 1,238 Sept 14 1,171 June 17, 2004 481 854,000 143 6 14.3

9 Th e Ansley 11 1,356 Sept 14 1,503 May 26, 2009 900 818,000 67 6 9.3

10 Minbu Villa 11 2,519 Sept 12 1,183 April 23, 2012 865 800,000 37 5 6.4

The freehold 67-unit Claremont is located in prime District 9

A 1,668 sq ft unit at The Azure was sold at a $669,200 loss on Sept 18

PICTURES: SAMUEL ISAAC CHUA/THE EDGE SINGAPORE



| BY TIMOTHY TAY |

With more new launches in the

pipeline, homebuyers eyeing

properties in the Upper Bukit

Timah area in District 21 will be

spoilt for choice. On the week-

end of Sept 29, Oxley Holdings will launch its

215-unit Mayfair Gardens, located a three-min-

ute walk from King Albert Park MRT station

on the Downtown Line. The indicative aver-

age launch price is $1,900 psf.

Meanwhile, Roxy-Pacific Holdings and its

joint-venture partner TE2 Development are

expected to launch their 168-unit project on

Lorong Kismis before year-end. The project is

a redevelopment of the former Kismis View

and the adjacent property at 19 Lorong Kismis.

Next to it is Daintree Residence, S P Setia’s

327-unit private condominium on Toh Tuck

Road. Forty-two units have been sold at an

average price of $1,703 psf since its launch in

July, according to caveats lodged.

The neighbourhood was also in the spotlight

at the close of the government land tender on

Sept 4, when a 99-year leasehold site on Jalan Ju-

rong Kechil was sold to China Overseas Holding

and CSC Land Group for $215 million, or $1,002

psf per plot ratio. In terms of psf ppr price, it

is 6.7% higher than the $939 S P Setia paid for

the Daintree Residence site in April last year.

According to Nicholas Mak, executive di-

rector of ZACD Group, based on the price that

CSC Land and China Overseas Holdings paid

for the Jalan Jurong Kechil site, the break-

even price is likely to be $1,640 to $1,700 psf.

With the recent and upcoming launches in

the District 21 neighbourhood, resale prices

of existing condos in the area have also risen.

According to Christine Sun, OrangeTee & Tie

head of research and consultancy, the aver-

age resale price of non-landed private homes

in District 21 increased 14% to $1,241 psf in

July and August, from $1,084 psf in the cor-

responding period last year.

Adjacent to Daintree Residence is the free-

hold The Creek @ Bukit, which was completed

last year. The latest transaction at the 260-unit

condo was that of a 463 sq ft, one-bedroom

unit that was sold for $795,000 ($1,718 psf) in

December. Meanwhile, a three-bedroom mai-

sonette unit of 1,668 sq ft fetched $2.47 mil-

lion ($1,480 psf) in December.

On Jalan Jurong Kechil is the boutique de-

velopment Suites @ Bukit Timah. The free-

hold, 71-unit project was completed in 2014.

The most recent transaction there was that of

a 344 sq ft, one-bedroom unit that changed

hands for $585,000 ($1,698 psf), according to

a caveat lodged on Sept 14. The unit was pur-

chased for $565,756 ($1,643 psf) in Novem-

ber 2011, when the project was first launched.

Also on Jalan Jurong Kechil is The Hillford.

The 281-unit project comes with a 60-year lease

and was sold as a retirement village. When it

was launched in January 2014, all the units

were snapped up within a day at an average

price of $1,105 psf. Units are predominantly

a mix of one-bedders of 398 sq ft priced from

$388,000 and two-bedroom, dual-key units of

657 sq ft priced from $648,000.

The Hillford was completed in 2016. Ac-

cording to caveats lodged, three units of 398

sq ft on the first and second levels changed

hands this September at prices ranging from

$450,000 ($1,130 psf) to $496,00 ($1,246 psf).

According to Sun of OrangeTee & Tie, there

has been a dip in demand for compact one-bed-

room units. “Investors of shoebox units have

retreated from the market, owing to the in-

crease in additional buyer’s stamp duty,” she

says. “As the majority of buyers today are own-

er-occupiers, developers have right-sized their

units to cater to them.”

DONE DEALS

Singapore — by postal district LOCALITIES DISTRICTSCity & 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

STIRLING RESIDENCES Apartment 99 years September 14, 2018 1,345 2,344,000 1,742 Uncompleted New Sale

STIRLING RESIDENCES Apartment 99 years September 14, 2018 678 1,298,000 1,914 Uncompleted New Sale





STIRLING RESIDENCES Apartment 99 years September 15, 2018 506 953,000 1,884 Uncompleted New Sale



STIRLING RESIDENCES Apartment 99 years September 16, 2018 506 868,000 1,716 Uncompleted New Sale

District 4

CARIBBEAN AT KEPPEL BAY Condominium 99 years September 14, 2018 1,227 1,900,000 1,548 2004 Resale

REFLECTIONS AT KEPPEL BAY Condominium 99 years September 13, 2018 1,259 1,768,888 1,405 2011 Resale

SEASCAPE Condominium 99 years September 11, 2018 2,680 4,600,000 1,716 2011 Resale

THE AZURE Condominium 99 years September 18, 2018 1,668 2,500,000 1,498 2008 Resale

District 5

THE PARC CONDOMINIUM Condominium Freehold September 13, 2018 1,518 2,028,000 1,336 2010 Resale

District 7

DUO RESIDENCES Apartment 99 years September 15, 2018 1,841 3,900,000 2,119 2017 New Sale

SOUTHBANK Apartment 99 years September 13, 2018 614 1,080,000 1,760 2010 Resale

District 9

ALBA Apartment Freehold September 18, 2018 2,110 4,700,000 2,228 2015 Resale

ASPEN HEIGHTS Condominium 999 years September 11, 2018 1,582 2,600,000 1,643 1998 Resale

ATTITUDE AT KIM YAM Apartment 999 years September 17, 2018 334 705,000 2,113 2011 Resale

CLAREMONT Apartment Freehold September 18, 2018 1,453 2,470,000 1,700 2000 Resale

MARTIN MODERN Condominium 99 years September 12, 2018 1,399 4,226,000 3,020 Uncompleted New Sale

MARTIN MODERN Condominium 99 years September 14, 2018 883 2,398,000 2,717 Uncompleted New Sale

MARTIN NO 38 Apartment Freehold September 11, 2018 1,076 2,850,000 2,648 2011 Resale

NEW FUTURA Condominium Freehold September 17, 2018 1,367 4,776,000 3,494 2017 Resale

NEW FUTURA Condominium Freehold September 17, 2018 1,098 4,109,600 3,743 2017 Resale

RHAPSODY ON MOUNT ELIZABETH Apartment Freehold September 13, 2018 1,044 2,060,000 1,973 2010 Resale

ROBERTSON 100 Apartment Freehold September 14, 2018 872 1,525,000 1,749 2004 Resale

THE QUAYSIDE Apartment 99 years September 18, 2018 1,389 1,944,600 1,400 1998 Resale

TWENTYONE ANGULLIA PARK Condominium Freehold September 12, 2018 3,122 11,000,000 3,524 2014 Resale

VISIONCREST Apartment Freehold September 14, 2018 926 2,000,000 2,161 2007 Resale

District 10

120 GRANGE Apartment Freehold September 13, 2018 570 1,702,400 2,984 Uncompleted New Sale

DUCHESS RESIDENCES Condominium 999 years September 14, 2018 1,464 2,760,000 1,885 2011 Resale

MON JERVOIS Condominium 99 years September 13, 2018 1,475 3,493,600 2,369 2016 Resale

RIDGEWOOD Terrace 999 years September 12, 2018 2,852 3,900,000 1,367 1981 Resale

RIDGEWOOD Condominium 999 years September 14, 2018 3,531 3,800,000 1,076 1981 Resale

Residential transactions with contracts dated Sept 11 to 18

LAND AREA/ UNIT FLOOR AREA TRANSACTED PRICE COMPLETION TYPE OFPROJECT PROPERTY TYPE TENURE SALE DATE (SQ FT) PRICE ($) ($ PSF) DATE SALE

Private condo prices in District 21 driven up by new launches

District 1

MARINA ONE RESIDENCES Apartment 99 years September 11, 2018 1,561 3,659,000 2,344 2017 New Sale

ONE SHENTON Apartment 99 years September 12, 2018 904 1,580,000 1,747 2011 Resale

V ON SHENTON Apartment 99 years September 16, 2018 474 1,464,000 3,070 2017 New Sale

District 3

ARTRA Apartment 99 years September 12, 2018 829 1,707,900 2,061 Uncompleted New Sale

MERAPRIME Condominium 99 years September 13, 2018 1,098 1,700,000 1,548 2006 Resale












S P SETIA

At S P Setia’s Daintree Residence, which previewed at end-July, 42 units have been sold so far, at an average price of $1,703 psf

E


DONE DEALS



District 11

8 BASSEIN Apartment Freehold September 11, 2018 452 828,000 1,832 2015 Resale

ADRIA Apartment Freehold September 18, 2018 850 1,560,000 1,835 2013 Resale

MINBU VILLA Apartment Freehold September 12, 2018 2,519 2,980,000 1,183 1981 Resale

GENTLE ROAD Terrace Freehold September 11, 2018 3,035 5,200,000 1,711 1998 Resale

GREENMEAD AVENUE Semi-Detached Freehold September 12, 2018 3,337 7,800,000 2,337 2018 Resale

RESIDENCES @ EVELYN Condominium Freehold September 18, 2018 1,141 2,253,475 1,975 2007 Resale

THE ANSLEY Condominium Freehold September 14, 2018 1,356 2,038,000 1,503 2004 Resale

THE LINCOLN RESIDENCES Condominium Freehold September 14, 2018 1,884 3,680,000 1,954 2011 Resale

THOMSON 800 Condominium Freehold September 13, 2018 1,625 2,302,800 1,417 1999 Resale

THOMSON 800 Condominium Freehold September 14, 2018 1,410 2,010,000 1,425 1999 Resale

TREVOSE PARK Condominium Freehold September 17, 2018 2,260 3,800,000 1,681 1991 Resale

WATTEN RESIDENCES Semi-Detached Freehold September 18, 2018 4,822 3,990,000 827 2011 Resale

District 12

MOONSTONE RESIDENCES Apartment Freehold September 14, 2018 1,238 1,450,000 1,171 2004 Resale

THE VIRIDIAN Apartment Freehold September 14, 2018 883 1,140,000 1,292 2015 Resale

District 13

NIN RESIDENCE Apartment 99 years September 13, 2018 527 785,000 1,488 2014 Resale

PARK COLONIAL Condominium 99 years September 11, 2018 463 830,000 1,793 Uncompleted New Sale


PARK COLONIAL Condominium 99 years September 11, 2018 980 1,657,000 1,692 Uncompleted New Sale

PARK COLONIAL Condominium 99 years September 12, 2018 1,087 1,925,000 1,771 Uncompleted New Sale
















THE ADDITION Apartment Freehold September 13, 2018 797 1,385,000 1,739 Uncompleted New Sale

THE ADDITION Apartment Freehold September 14, 2018 1,109 1,780,000 1,605 Uncompleted New Sale






THE POIZ RESIDENCES Apartment 99 years September 11, 2018 3,767 3,675,000 975 Uncompleted New Sale

THE TRE VER Condominium 99 years September 13, 2018 506 788,000 1,558 Uncompleted New Sale


THE TRE VER Condominium 99 years September 13, 2018 1,098 1,796,000 1,636 Uncompleted New Sale


District 14

# 1 SUITES Apartment Freehold September 12, 2018 560 635,000 1,134 2016 Resale

CENTRAL GROVE Condominium 99 years September 12, 2018 1,206 1,270,000 1,053 2001 Resale

EUHABITAT Condominium 99 years September 13, 2018 947 1,090,000 1,151 2015 Resale

LORONG MARICAN Semi-Detached Freehold September 11, 2018 3,466 3,928,000 1,134 Unknown Resale

PARK PLACE RESIDENCES AT PLQ Apartment 99 years September 14, 2018 1,163 1,926,000 1,657 Uncompleted New Sale

PARK PLACE RESIDENCES AT PLQ Apartment 99 years September 14, 2018 1,087 1,970,000 1,812 Uncompleted New Sale

SIMS GREEN Apartment 99 years September 17, 2018 958 810,000 846 2003 Resale

SIMS URBAN OASIS Condominium 99 years September 14, 2018 1,733 2,490,000 1,437 2017 New Sale

SIMS URBAN OASIS Condominium 99 years September 15, 2018 1,733 2,478,200 1,430 2017 New Sale

District 15

AMBER 45 Apartment Freehold September 15, 2018 1,593 3,673,000 2,306 Uncompleted New Sale

LA VIDA @ 130 Apartment Freehold September 14, 2018 775 980,000 1,265 2014 Resale

OPERA ESTATE Detached Freehold September 14, 2018 3,272 3,660,000 1,117 Unknown Resale

OPERA ESTATE Terrace Freehold September 17, 2018 1,636 2,350,000 1,439 Unknown Resale

STRAITS RESIDENCES Apartment Freehold September 14, 2018 506 750,000 1,482 2013 Resale

THE BALE Apartment Freehold September 14, 2018 1,690 1,760,000 1,041 2008 Resale

District 16

BAYSHORE PARK Condominium 99 years September 11, 2018 936 1,070,000 1,143 1986 Resale

EXCELSIOR GARDENS Terrace Freehold September 11, 2018 1,701 2,800,000 1,652 1991 Resale

LAGUNA GREEN Condominium 99 years September 12, 2018 1,184 1,185,000 1,001 1998 Resale

TANAMERA CREST Condominium 99 years September 11, 2018 1,173 930,000 793 2004 Resale

THE GLADES Condominium 99 years September 11, 2018 452 688,000 1,522 2016 Sub Sale

District 17

FERRARIA PARK CONDOMINIUM Condominium Freehold September 13, 2018 936 860,000 918 2009 Resale

HEDGES PARK CONDOMINIUM Condominium 99 years September 13, 2018 1,001 880,000 879 2015 Resale

HEDGES PARK CONDOMINIUM Condominium 99 years September 17, 2018 1,076 880,000 818 2015 Resale

PARC OLYMPIA Condominium 99 years September 13, 2018 657 674,000 1,026 2015 Resale

District 18

COCO PALMS Condominium 99 years September 12, 2018 1,464 1,570,000 1,072 2018 Sub Sale

MELVILLE PARK Condominium 99 years September 14, 2018 1,216 806,000 663 1996 Resale

MELVILLE PARK Condominium 99 years September 14, 2018 1,044 760,000 728 1996 Resale

SAVANNAH CONDOPARK Condominium 99 years September 18, 2018 1,453 1,290,000 888 2005 Resale

SEASTRAND Condominium 99 years September 13, 2018 592 585,000 988 2014 Resale

THE EDEN AT TAMPINES EC 99 years September 18, 2018 1,238 1,050,000 848 2003 Resale

THE TAPESTRY Condominium 99 years September 11, 2018 1,130 1,436,800 1,271 Uncompleted New Sale

THE TAPESTRY Condominium 99 years September 11, 2018 603 844,800 1,401 Uncompleted New Sale

THE TAPESTRY Condominium 99 years September 13, 2018 1,130 1,448,000 1,281 Uncompleted New Sale



District 19

A TREASURE TROVE Condominium 99 years September 13, 2018 1,270 1,328,000 1,046 2015 Resale

AFFINITY AT SERANGOON Apartment 99 years September 14, 2018 624 954,000 1,528 Uncompleted New Sale






AFFINITY AT SERANGOON Apartment 99 years September 15, 2018 850 1,254,000 1,475 Uncompleted New Sale



BLISS@KOVAN Condominium Freehold September 18, 2018 1,249 1,750,000 1,402 2015 Resale

BOATHOUSE RESIDENCES Condominium 99 years September 11, 2018 1,012 1,050,000 1,038 2015 Resale

ESPARINA RESIDENCES EC 99 years September 14, 2018 1,066 1,100,000 1,032 2013 Resale

ESPARINA RESIDENCES EC 99 years September 18, 2018 1,066 1,150,000 1,079 2013 Resale

ESPARINA RESIDENCES EC 99 years September 18, 2018 829 826,500 997 2013 Resale

FLO RESIDENCE Condominium 99 years September 17, 2018 1,012 980,000 969 2016 Resale

FONTAINE PARRY Condominium 999 years September 17, 2018 1,066 1,100,000 1,032 2010 Resale

FOREST WOODS Condominium 99 years September 12, 2018 1,389 2,078,000 1,497 Uncompleted New Sale

KINGSFORD WATERBAY Apartment 99 years September 11, 2018 850 1,162,000 1,366 Uncompleted New Sale

KINGSFORD WATERBAY Apartment 99 years September 16, 2018 850 1,147,000 1,349 Uncompleted New Sale

KOVAN MELODY Condominium 99 years September 11, 2018 1,292 1,460,000 1,130 2006 Resale

KOVAN MELODY Condominium 99 years September 17, 2018 1,313 1,528,000 1,164 2006 Resale

KOVAN RESIDENCES Condominium 99 years September 12, 2018 893 1,275,000 1,427 2011 Resale

PRIVE EC 99 years September 13, 2018 775 780,000 1,006 2013 Resale

PRIVE EC 99 years September 13, 2018 1,399 1,380,000 986 2013 Resale

RIVERFRONT RESIDENCES Apartment 99 years September 12, 2018 732 898,000 1,227 Uncompleted New Sale



RIVERFRONT RESIDENCES Apartment 99 years September 14, 2018 1,066 1,416,000 1,329 Uncompleted New Sale


RIVERFRONT RESIDENCES Apartment 99 years September 15, 2018 915 1,209,000 1,321 Uncompleted New Sale


RIVERFRONT RESIDENCES Apartment 99 years September 16, 2018 1,066 1,415,000 1,328 Uncompleted New Sale





SANFORD PARK Terrace Freehold September 12, 2018 2,573 2,775,600 1,080 1990 Resale

TAI KENG GARDENS Terrace Freehold September 12, 2018 1,938 2,260,000 1,170 Unknown Resale

THE GARDEN RESIDENCES Apartment 99 years September 12, 2018 517 758,800 1,469 Uncompleted New Sale

THE GARDEN RESIDENCES Apartment 99 years September 16, 2018 452 688,500 1,523 Uncompleted New Sale

THE TEMBUSU Condominium Freehold September 14, 2018 764 1,360,000 1,780 2016 Resale

District 20

ADELPHI PARK ESTATE Detached Freehold September 13, 2018 3,681 4,700,000 1,276 Unknown Resale

ISLAND PARK Semi-Detached Freehold September 14, 2018 4,004 4,200,000 1,049 1974 Resale

District 21

CLEMENTI PARK Condominium Freehold September 14, 2018 1,873 2,200,000 1,175 1985 Resale

DAINTREE RESIDENCE Condominium 99 years September 15, 2018 1,055 1,695,750 1,608 Uncompleted New Sale

GREENRIDGE Terrace Freehold September 17, 2018 3,057 3,780,000 1,239 1987 Resale

HOOVER PARK Terrace Freehold September 12, 2018 1,862 3,580,000 1,920 Unknown Resale

CHUN TIN ROAD Semi-Detached Freehold September 11, 2018 2,411 4,800,000 1,995 2015 Resale

PARC PALAIS Condominium Freehold September 12, 2018 1,335 1,600,000 1,199 1999 Resale

SHERWOOD CONDOMINIUM Condominium Freehold September 17, 2018 872 850,000 975 1998 Resale

SOUTHAVEN II Condominium 999 years September 13, 2018 1,119 1,230,000 1,099 1999 Resale

SUITES AT BUKIT TIMAH Apartment Freehold September 14, 2018 344 585,000 1,698 2014 Resale

SYMPHONY HEIGHTS Condominium Freehold September 14, 2018 990 1,100,000 1,111 1998 Resale

TERRENE AT BUKIT TIMAH Condominium 999 years September 13, 2018 1,421 1,848,888 1,301 2013 Resale

THE HILLFORD Apartment 60 years September 14, 2018 398 465,000 1,168 2016 Resale

THE HILLFORD Apartment 60 years September 17, 2018 398 496,000 1,245 2016 Resale

District 22

PARC OASIS Condominium 99 years September 11, 2018 797 720,000 904 1994 Resale

THE FLORAVALE EC 99 years September 12, 2018 1,292 858,000 664 2000 Resale

District 23

HAZEL PARK CONDOMINIUM Condominium 999 years September 11, 2018 1,324 1,535,000 1,159 2000 Resale

HAZEL PARK CONDOMINIUM Condominium 999 years September 14, 2018 1,518 1,600,000 1,054 2000 Resale

HILLVIEW 128 Apartment 999 years September 17, 2018 969 885,000 914 2002 Resale

HILLVIEW 128 Apartment 999 years September 18, 2018 1,044 990,000 948 2002 Resale

HILLVIEW PARK Condominium Freehold September 14, 2018 1,227 1,315,000 1,072 1995 Resale

CHESTNUT LANE Terrace Freehold September 17, 2018 1,668 2,820,000 1,690 1994 Resale

PAVILION PARK Semi-Detached Freehold September 17, 2018 2,153 2,950,000 1,370 2003 Resale

THE DEW EC 99 years September 14, 2018 1,206 1,050,000 871 2003 Resale

THE HILLIER Apartment 99 years September 14, 2018 818 1,090,000 1,332 2016 Resale

THE HILLIER Apartment 99 years September 18, 2018 624 800,000 1,281 2016 Resale

YEW MEI GREEN EC 99 years September 12, 2018 1,292 880,000 681 2000 Resale

District 25

LA CASA EC 99 years September 11, 2018 980 758,000 774 2008 Resale

LA CASA EC 99 years September 12, 2018 980 738,000 753 2008 Resale

District 26

SPRINGLEAF GARDEN Semi-Detached Freehold September 14, 2018 3,541 3,680,000 1,039 1993 Resale

THE CALROSE Condominium Freehold September 18, 2018 1,238 1,718,000 1,388 2007 Resale

District 27

EIGHT COURTYARDS Condominium 99 years September 11, 2018 1,087 1,060,000 975 2014 Resale

EIGHT COURTYARDS Condominium 99 years September 17, 2018 1,378 1,450,000 1,052 2014 Resale

KANDIS RESIDENCE Condominium 99 years September 14, 2018 1,023 1,327,900 1,299 Uncompleted New Sale

PARC LIFE EC 99 years September 11, 2018 1,066 970,000 910 2018 New Sale

SPRINGHILL Terrace 99 years September 11, 2018 2,939 1,380,000 470 2005 Resale

WATERCOVE Terrace Freehold September 16, 2018 3,466 2,400,000 692 Uncompleted New Sale

YISHUN EMERALD Condominium 99 years September 12, 2018 1,195 870,000 728 2002 Resale

District 28

ESTE VILLA Terrace Freehold September 14, 2018 3,810 2,600,000 682 2013 Resale

MIMOSA TERRACE Terrace Freehold September 12, 2018 2,583 3,050,000 1,182 2004 Resale

MUGLISTON HILL Terrace 999 years September 12, 2018 1,851 2,120,000 1,147 1976 Resale

NIM COLLECTION Terrace 99 years September 12, 2018 1,679 2,918,000 1,738 Uncompleted New Sale

PARC BOTANNIA Condominium 99 years September 16, 2018 1,281 1,657,730 1,294 Uncompleted New Sale

SELETAR HILLS ESTATE Terrace 999 years September 13, 2018 2,164 2,516,000 1,165 1996 Resale

THE GREENWICH Condominium 99 years September 13, 2018 1,076 1,300,000 1,208 2014 Resale

THE GREENWICH Condominium 99 years September 17, 2018 883 900,000 1,020 2014 Resale

VILLA BEGONIA Terrace 99 years September 11, 2018 1,765 1,650,000 936 1998 Resale

Residential transactions with contracts dated Sept 11 to 18

DISCLAIMER:Source: URA Realis. Updated Sept 25, 2018. The Edge Property Pte Ltd shall not be responsible for any loss orliability arising directly or indirectly from the use of, or reliance on, the information provided therein.EC stands for executive condominium

UNDER THE HAMMER


Semi-detached house in Bedok going for $7.5 mil| BY CHARLENE CHIN |

A 2½-storey semi-detached house, off Upper

East Coast Road in Bedok, was put up for auc-

tion on Sept 26 by Edmund Tie & Co (ET&Co).

The opening price was $7.5 million ($1,354

psf). As there were no bids, the property was

withdrawn. This is the second time the house was put

up for auction.

The first time it went under the hammer was on Aug

29. The opening price then was $7.8 million. The prop-

erty is now available for sale by private treaty.

The freehold property, at 82 Sennett Avenue, sits on

an elevated site of 5,538 sq ft and has a north-south ori-

entation to minimise heat from the sun. It has five bed-

rooms, two basement levels and an attic. From the attic,

one can get an unobstructed view of the neighbourhood.

The lower basement features a steam room and a help-

er’s room, while the upper basement houses the dining

area, kitchen, swimming pool and two bedrooms. “Even

from the upper basement level, you will have views over-

looking the roofs of your neighbours’ houses,” says Joy

Tan, head of auction & sales at ET&Co.

The remaining three bedrooms are found on the sec-

ond level of the house. The car porch can fit up to five

cars. The house was previously tenanted at $11,000 a

month. It is now vacant as the owner has put the prop-

erty up for sale, says Tan.

So far, enquiries on the property have been from those

who are familiar with the neighbourhood and looking to

purchase for their own use, adds Tan.

The house, in District 16, is near several amenities.

It is a seven-minute drive to Bedok Mall and a 10- to

15-minute drive to Parkway Parade shopping centre.

Educational institutions such as Temasek Primary School,

Bedok Green Secondary School and Temasek Junior Col-

lege are less than 13 minutes away by car.

The freehold semi-detached house that was put up for auction on Sept 26 is on an elevated site of 5,538 sq ft

The swimming pool is on the upper basement level of the property

From the attic, one can get an unobstructed view of the neighbourhood E

Documents

20181001 S EP 850 · 2018-09-28 · See our Cover Story on Pages 4 and 5. SAMUEL ISAAC CHUA/THE EDGE SINGAPORE. EP2 •EDGEPROP | OCTOBER 1, 2018 The Jovell launches on Sept 29 weekend