Search Articles

in

Recommended For You

Higher rental rates boost MIT's Q1 DPU
Higher rental rates boost MIT's Q1 DPU

The Business Times -
23 Jul 2014

MAPLETREE Industrial Trust (MIT) yesterday posted a distribution pe...


Sold your flat? You can stay on for up to 3 more months
Sold your flat? You can stay on for up to 3 more months

The Straits Times -
23 Jul 2014

HOUSING Board flat sellers can now stay in their sold units for up ...


Rents, new property boost FCT's Q3 earnings
Rents, new property boost FCT's Q3 earnings

The Straits Times -
23 Jul 2014

HIGHER rents and a new acquisition helped Frasers Centrepoint Trust...



Latest Related Ads

79E TOA PAYOH CENTRAL
4-Room HDB 79E TOA PAYOH CENTRAL, For Sale

!!! Exclusive Listing
!!! !!! New Listing !!!
Wort


372 BUKIT BATOK STREET 31
372 BUKIT BATOK STREET 31 Office BUKIT BATOK STREET 31 For Rent

!!! New Listing !!!
Prime Location !!! !!!
Limited


Trevista@Toa Payoh
Trevista@Toa Payoh (D12) Condominium, For Rent

!!! New Listing !!!
Prime Location !!! !!!
Must Vi



Featured Videos

Newsletter

Subscribe to receive the hottest news & property trends, updates on popular properties and promotions from STProperty & our partners

Singapore Property News

BLVD unit sets record $3,205 psf price for Orchard Rd area

Most of the new launches in the Orchard Road area will start at $3,000 psf

The Straits Times - February 13, 2007
By: Fiona Chan

| More
BLVD unit sets record $3,205 psf price for Orchard Rd area

TWO homes in the Orchard Road area have sold at prices that have broken past records in the prime district.

The Straits Times understands that a Singapore permanent resident has forked out more than $6.5 million for an apartment at The Boulevard Residence (BLVD).

The unidentified buyer paid $3,205 per sq ft (psf) for the 2,034 sq ft three-bedroom unit at Cuscaden Walk, said market sources.

This surpasses the price high set just a week earlier, by a unit in the Beaufort on Nassim at Nassim Hill that fetched $3,200 psf.

The prices achieved by these two sales outstrip the last-known Orchard Road record of $3,050 psf. That was held by City Developments’ St Regis Residences, the first residential development here to cross the $3,000 psf mark.

But these pricey units still fall short of the $3,450 psf yardstick set by a penthouse unit at Marina Bay Residences late last year.

However, property consultants say that the latest sales lend weight to earlier predictions that Orchard Road homes will soar to new price heights this year.

“This year, most of the new launches in the Orchard Road area will start at $3,000 psf,” said Mr Ku Swee Yong, director of marketing and business development at property consultancy Savills Singapore.

He said that the high prices would be partially supported by the displaced owners of “at least 40 different estates that have gone en bloc in the Orchard Road area”.

Mr Ku was unsurprised by the high price of the BLVD apartment, noting that the project’s developer, SC Global, builds for the luxury end of the market.

The BLVD, for instance, includes imported marble finishings, concierge and valet services, as well as a private elevator for each unit.

The freehold development was completed in 2005 and is almost fully sold. Only two of its 42 units are left – one an individually customised super-penthouse that has not yet been released for sale.

Average prices of BLVD units transacted over the last 12 months have hovered at around $2,200 psf, with one apartment believed to have been sold earlier this year for $2,850 psf.

At the Beaufort on Nassim, 12 of its 30 units have been sold at prices starting from $2,300 psf.

The project is being developed by Hong Kong’s HKR International, which also owns The Sentosa Resort and Spa, formerly known as The Beaufort, on Sentosa.

 

| More

Ease ABSD for Singaporeans, urges Wing Tai boss

Ease ABSD for Singaporeans, urges Wing Tai boss

The Business Times - 18 Jul 2014

But it should be kept for foreigners as hot money remains an issue


Magnate allays fears of Iskandar building glut

Magnate allays fears of Iskandar building glut

The Business Times - 17 Jul 2014

This comes against a backdrop of roll-out of mammoth projects by big Chinese developers


Parents may get carrot to join kids in newer towns

Parents may get carrot to join kids in newer towns

The Straits Times - 17 Jul 2014

Idea raised as part of efforts to free up HDB flats in mature estates

View articles from these categories

X

$3,000 psf price seen at Parkview Eclat

The Business Times - February 13, 2007

By: Arthur Sim