Our top Singapore property stories.
Geylang HDB flat with city views sold for $910,000
A 5-room HDB resale flat on a high floor in Geylang with sweeping views of the Singapore Sports Hub and city skyline was sold in January for a sky-high price of $910,000.
The sale price for the 1,184 sq ft corner unit works out to about $769 psf on the floor area.
Located at Block 3 Pine Close, the 18-year-old flat is close to Mountbatten MRT station, famous eateries, supermarkets and Kallang Wave Mall. Read more
Mandarin Gardens eyeing $2.5 billion collective sale
Mandarin Gardens condominium is now poised to raise the bar for collective sales attempts in Singapore as owners of the 99-year leasehold development have set a $2.48 billion price tag in a new en bloc attempt, reported Channel NewsAsia.
“This would represent probably the highest land price ever in Singapore in terms of absolute quantum,” said International Property Advisor chief executive Ku Swee Yong.
“$2.5 billion sounds large, but that’s partly also because this piece of land is one million square feet. Multiplied by the plot ratio, you could in fact build about three million square feet of residences.” Read more
Holland Road site attracts 15 bids
The tender for a plum commercial and residential site at Holland Road in District 10 closed on 20 March after attracting strong interest from developers.
A total of 15 bids were submitted for the approximately 247,214 sq ft plot – the first sale site of the Holland Village Extension. It was launched for sale by the Urban Redevelopment Authority (URA) via the dual-envelope concept and price tender system on 30 November 2017.
Several big-name developers put in more than one bid with different concept proposals, through joint ventures and consortiums. They include Far East Organization, Lendlease and GuocoLand. Read more
Sentosa Cove penthouse sold at $2.4 million loss
A two-level penthouse at Sentosa Cove’s posh The Berth by the Cove was sold on mortgagee sale at an auction in February for $3.25 million, which works out to $1,105 psf. The property received a total of five bids.
While this is the first successful auction of a Sentosa Cove property in 2018, the sale translates to a loss of about $2.4 million, or 42 percent, said marketing agent Edmund Tie & Co.
The previous owner had bought the unit for $5.64 million ($1,919 psf) in 2011. Read more