M A K E B E T T E R D E C I S I O N S

ISSUE 740

S I N G A P O R E

A PULLOUT WITH

BUSINESS & INVESTMENT WEEKLYMCI (P) 043/03/2016 PPS 1519/09/2012 (022805)

d’Leedon — Above it all

LOCATION MATTERS MASTER PLANNED AND DESIGNED BY WORLD-ACCLAIMED ARCHITECT ZAHA HADID,

THE 1,715-UNIT PRIVATE CONDOMINIUM IS WITHIN EASY ACCESS OF HOLLAND VILLAGE,

ONE-NORTH, ORCHARD ROAD, THE CBD AND JURONG GATEWAY, SINGAPORE’S SECOND CBD

Brought to you by CAPITALAND Singapore

EPJ2 • THEEDGE SINGAPORE | AUGUST 8, 2016

The $3 billion d’Leedon condominium

is a landmark in prime District 10.

Developed by a CapitaLand-led

consortium, the project contains

seven petal-shaped towers on a

sprawling site of close to 8 hectares.

d’Leedon was designed by world acclaimed

architect Zaha Hadid. It was a milestone for Hadid

as it was her debut project in Singapore and the

first high-rise residential development where

she was both the master planner and designer.

As the first woman to win the Pritzker

Architecture Prize (in 2004), Hadid was fam-

ous for her daring and curvaceous designs for

public attractions that have become landmarks

in their respective cities. Notable projects in-

clude the Guangzhou Opera House; London

Aquatics Centre; Maxxi National Museum of

21st Century Arts in Rome; and the Serpentine

Sackler Gallery in Kensington Gardens.

WELL-CONCEIVEDWith 1,715 units, d’Leedon is also the largest

private residential development in Singapore’s

recent history. The ingenuity of Hadid’s design

was that despite the sheer number of units,

the footprint of the built-up area occupies

just 22% of the total site area of 840,049 sq ft.

This means that almost 80% of the grounds are

dedicated to communal facilities for residents.

Among the amenities are landscaped gardens,

four swimming pools, two clubhouses, a gym,

spas and party houses. They, in turn, form the

centrepiece of the development.

Most private condominiums today contain

blocks that are close to each other. However,

the seven towers of d’Leedon are set far apart

from one another and arrayed around the

communal facilities. At 36 storeys, the project

towers over other condominium developments

in the vicinity which are only 12 storeys in

height. This means every unit at d’Leedon is

assured of a view. Lower floor units overlook

greenery or one of the pools. Those on the

higher floors have panoramic vistas of the

city skyline, the Southern Ridges and the sea

beyond, or mouth-watering views of the presti-

gious Good Class Bungalow estates of Belmont

Road, Leedon Park and Victoria Park, where

many of Singapore’s Who’s Who have homes.

‘GAME CHANGER’The architecture of d’Leedon has also raised

the bar for a neighbourhood on the cusp of

transformation. At the doorstep of d’Leedon

is the Farrer Road MRT station on the Circle

Line. One stop away is Holland Village, with

its eclectic bohemian charm and ambience

that has drawn Singaporeans and tourists

there for decades.

The URA has classified Holland Village as an

“identity node” in the 2014 Master Plan, which

means that the government will be sensitive in

preserving the existing character and vibe of the

place, even in its plans to rejuvenate the area.

A new Holland Village extension is in the

pipeline, which will include communal parks

and more pedestrian walkways. In keeping with

its village-like charm, a new pedestrian-centric

precinct located adjacent to the existing shop-

houses at the junction of Holland Avenue and

Holland Road will be built. Within the precinct

will be a cluster of new shops and restaurants.

Injecting further life into the area will be

a new mixed-use scheme to be located on the

former HDB public car park site. The site has

been put up for sale on the Reserve List of

the government land sales programme. The

development will have commercial, retail and

residential components, but more importantly,

the URA requires that the scheme include public

spaces that are pedestrian-friendly with shops,

restaurants and entertainment. This will mean

a wider spectrum of dining and recreational

options for residents in the vicinity and visitors

to Holland Village.

CONNECTIVITYBesides the MRT, d’Leedon is also well-served

by public buses to the CBD and other parts of

the island. A bus stop is conveniently located

at d’Leedon’s doorstep.

Those who drive will find it even more

convenient, as d’Leedon is accessible to three

expressways, namely the Ayer Rajah Express-

way (AYE), Central Expressway (CTE) and

the Pan-Island Expressway. Therefore, the

CBD and Orchard Road are just a 5-10 minute

drive from d’Leedon. Changi Airport is a 15-20

minute drive from the condominium. Jurong

Gateway, Singapore’s second CBD and the

future high-speed rail terminus is also just a

15-20 minute drive away.

Located a five-minute drive or just two

MRT stops from d’Leedon is one-north. Master

planned by JTC, the 200-ha site has a work-live-

play concept with knowledge-based industries

clustered together to facilitate exchange of ideas.

One-north has developed into a vibrant enclave

with hotels, serviced apartments, restaurants,

cafes and coffee joints as well as other amenities

at The Star Vista shopping mall.

Living at d’Leedon certainly has its privileges

given its unbeatable location with easy access to

amenities, work and educational opportunities.

With a down payment from as low as $250k*, move into your dream home immediately andsave on loan interest payments for 12 months!

The CapitaLand Stay Then Payprogramme is applicable forselected units only.

* Based on the selling price of a $2.5M unit (excluding any stamp duties payable)

Visit our sales office at

5 Leedon Heights #01-09

Open daily from 11am to 6pm

6467 1190 | dleedon.com.sg

15%

Jointly developed by

More than 100 units

snapped in just one week!

discountfor selected units!

Singapore Botanic Gardens is just one MRT stop from d’Leedon

The seven towers at d’Leedon are arrayed around the amenities such

as the swimming pools, gym, clubhouses and party houses

Panoramic views of the Good Class Bungalow enclaves and city skyline from the high-floor units at d’Leedon

The Holland Village MRT station is just one stop

from d’Leedon

Penthouses where you can stay, then pay EP4&5

PersonalitySRI5000 splits fromSLP International

EP8

Done DealsSemi-detached houses at Victoria Park Villas sold from $4.39 mil EP10

Gains and LossesSeller incurs 40% loss at

Orchard Scotts EP13

A PULLOUT WITH

MCI (P) 043/03/2016 PPS 1519/09/2012 (022805)

Visit TheEdgeProperty.com to find properties, research market trends and read the latest news THE WEEK OF AUGUST 8, 2016 | ISSUE 740

M A K E B E T T E R D E C I S I O N S

Examining home ownership aspirations

A joint survey by Knight Frank and The Edge Property sheds light on market sentiment and preferences.

See our Cover Story on Pages 6 and 7.

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Aerial view of Tiong Bahru and the city skyline beyond

EP2 • THEEDGE SINGAPORE | AUGUST 8, 2016

Office rents in most markets to improve in 2017, says C&WMost markets in the region will see an

improvement in office rents on the back

of stronger occupancies in 2017, accord-

ing to Cushman & Wakefield’s Mid-Year

Outlook Report 2016. Across the 30 ma-

jor cities tracked by C&W through 2017,

14 may even post record rents.

C&W expects falling vacancies through

2017 to favour landlords in Tokyo, Syd-

ney and Melbourne, where strong de-

mand will keep Grade A vacancies hov-

ering close to their equilibrium of 7%.

Meanwhile, rents could begin to stabi-

lise in core markets, including Singa-

pore, Brisbane and Perth.

Singapore is expected to post the

highest vacancy increase of eight to nine

percentage points among core markets

between 2015 and 2017. Since 1Q2015,

rents for Grade A properties in the CBD

have slipped more than 15% and will

likely decline another 7% to 10% y-o-y

in 2016 before stabilising in 2017.

The city state will witness a record

supply of four million sq ft of office

space to be delivered by next year. Leas-

ing activity is also moderating as inter-

national banks continue to shrink their

footprints. A slowing economy and low

unemployment rate are also holding

back activity.

However, office investment in Singa-

pore saw a resurgence in 2Q2016 with

landmark transactions this year. For in-

stance, the sale of Asia Square Tower 1

to the Qatar Investment Authority for

US$2.5 billion ($3.35 billion) set a new

record in Asia-Pacific for the largest sin-

gle-asset transaction in the last five years.

Overall auction sales jump 54.1% q-o-q in 2Q2016, says Knight FrankOverall auction sales value soared 54.1%

q-o-q from $9.62 million in 1Q2016 to

$14.81 million in 2Q2016, according to

the latest Knight Frank auction report.

On a y-o-y basis, the overall auction

sales value increased 48.4% from $9.99

million in 2Q2015.

A total of 185 properties were put

up for auction in 2Q2016. That is an in-

crease of 31.2% q-o-q from 141 prop-

erties in 1Q2016. Seven of the proper-

ties went under the hammer. Of these,

four were transacted below $2.5 million,

while three others were sold for between

$2.5 million and $5 million. The latter

were all mortgagee sales.

There were 61 mortgagee sales in

2Q2016. Of these, 31 were fresh mort-

gagee sales comprising residential prop-

erties (21 units), industrial (six units),

office (two units), and shop and shop-

house (two units). Mortgagee sales val-

ue climbed 105.9% q-o-q from $5.88

million in 1Q2016 to $12.1 million in

2Q2016, despite only four of the prop-

erties being sold.

The residential segment registered

$13.24 million worth of transactions in

2Q2016. The number of residential prop-

erties put up for auction increased 21.2%

q-o-q from 85 in 1Q2016 to 103 in 2Q2016.

Of these, 43 were mortgagee sales.

Knight Frank expects the total num-

ber of properties put up for auction in

2016 to cross the 700 mark after 326

properties were auctioned in 1H2016.

Keppel Land opens Saigon Centre retail mallKeppel Land has opened its retail mall

in Saigon Centre (above left), Ho Chi

Minh City (HCMC). The mall, part of

Saigon Centre phase two, is anchored

by the city’s first Takashimaya depart-

ment store, which takes up 161,459 sq

ft of its retail space.

Saigon Centre is located on Le Loi

Boulevard in the heart of HCMC's CBD.

Saigon Centre phase two comprises

473,612 sq ft of premium Grade A of-

fice space, 592,075 sq ft of retail areas

and 195 luxury serviced apartments.

The 37-storey tower is designed by New

York-based architect NBBJ and sched-

uled to be completed at end-2017.

Meanwhile, the 25-storey office tower

in Saigon Centre phase one is current-

ly 97% leased to the diplomatic corps,

multi national companies, as well as

banking and financial institutions. Ten-

ants include DBS Bank, AIG, Reuters

and Mitsubishi Corp.

Saigon Centre phase one and two are

jointly owned by Keppel Land, Toshin

Development, and Vietnamese partners,

Southern Waterborne and Transporta-

tion Corp and Saigon Real Estate Corp.

Keppel Land holds a 45.3% stake in the

development.

JB City Council to relocate HQto Astaka’s One Bukit SenyumSingapore-listed Astaka Holdings an-

nounced that it will construct, develop

and sell a 14-storey Grade A office tower

to Johor Baru’s City Council (MBJB).

Menara MBJB (right) will be located

within One Bukit Senyum, a mixed-use

development site in Johor Baru.

The entire OBS development is ex-

pected to be completed by 2021 and

will have an allowable gross floor area

of 6.3 million sq ft.

Menara MBJB will have a gross floor

area of 445,848 sq ft and 558 car parks.

Once it is completed at end-2019, about

800 employees will relocate to the new

MBJB headquarters at the tower. Me-

nara MBJB is located next to The Asta-

ka @ One Bukit Senyum, a mixed-use

development comprising 438 residential

units, hotel, F&B, retail, office suites and

a business office tower.

Crown Group unveils resort-style development in SydneyAustralian developer Crown Group has

announced plans for its tropical re-

sort-style development, Waterfall by

Crown Group, in Waterloo, Sydney.

Waterfall by Crown Group (above

right) is designed by Sydney-based ar-

chitect SJB, with aims to provide res-

idents more engagement with nature.

The project will include a 22m or sev-

en-storey tall waterfall. “Waterfall by

Crown Group provides a sense of place,

where people can feel both a connec-

tion with nature and the urban envi-

ronment at once,” says Crown Group

CEO Iwan Sunito.

Located 5km from Sydney’s CBD on

O’Dea Avenue Waterloo, the develop-

ment comprises 331 apartments. Con-

struction works for the project are target-

ed to start next year and are scheduled

for completion in 2019. Apartments at

Waterfall by Crown Group will be re-

leased for sale later this year.

Real Estate Sentiment Index in 2Q2016 shows less pessimism among developersThe overall market sentiment has shown

signs of improvement, although there

is still pessimism, according to the

2Q2016 Real Estate Sentiment Index

(RESI). The composite sentiment in-

dex stood at 4.2 in 2Q2016, up from

3.8 in 1Q2016. Market sentiment has

been weak in the last 11 consecutive

quarters. The current sentiment index

increased to 4.3 in 2Q2016 from 3.9

in 1Q2016, while the future sentiment

index increased to 4.0 in 2Q2016 from

3.6 in 1Q2016.

Some 64.7% of the developers sur-

veyed expect the number of new launch-

es to hold at the same level in the next

six months. More than half of them an-

ticipate a moderate decrease in residen-

tial property prices in 2H2016.

About 94.7% of the respondents ex-

pect the global economy to slow down,

and 70.2% of them identify job losses

and declines in domestic economy as

two potential risk factors in the next

six months.

With Singapore’s 2016 economic

growth adjusted further downwards and

no respite yet from the government on

the property cooling measures, 56.1%

of the respondents think the downward

economic growth forecast will have a

moderate impact on unsold units and

prices in 2017.

RESI is jointly developed by the Real

Estate Developers’ Association of Sin-

gapore and the Department of Real Es-

tate of National University of Singapore.

The quarterly structured questionnaire

survey is conducted among senior ex-

ecutives of REDAS member firms. —

Compiled by Tan Chee Yuen

EDITORIALEDITOR | Ben PaulTHE EDGE PROPERTY

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EP4 • THEEDGE SINGAPORE | AUGUST 8, 2016

CITY&COUNTRY

The living and dining area of the fully furnished 4,715 sq ft penthouse at Soleil @ Sinaran, priced at $9 million

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More developers offering penthouses where you can ‘stay then pay’ | STORIES BY MICHAEL LIM |

Traditionally, developers of high-end pri-

vate condominiums in the prime districts

have been reluctant to offer discounts

or deferred payments for penthouses,

owing to the rarity of such units, typi-

cally described as “bungalows in the sky”. “The

belief is that penthouses are designed for the

privileged few who do not need a discount or

deferred payment scheme,” says Samuel Eyo,

managing director of Singapore Christie’s Inter-

national Real Estate, the appointed marketing

agent for penthouses in various projects.

However, the recent success achieved by de-

velopers offering discounts and deferred pay-

ments for high-end projects — such as OUE

for OUE Twin Peaks and CapitaLand with its

stay-then-pay programme for remaining units

at The Interlace and d’Leedon — have spurred

more developers to contemplate such schemes,

especially if they have unsold units that have

been lingering on the market for a number of

years, says Eyo.

A case in point is Frasers Centrepoint,

which recently offered a stay-then-pay plan

for the fourth and last penthouse on the 35th

floor of one of its twin towers at Soleil @ Si-

naran. The 99-year leasehold condo contains

417 units and is located adjacent to the Nove-

na medical cluster and a two-minute walk to

the MRT station. The project was completed

in 2011 and all the units have been sold except

for this penthouse.

The two largest five-bedroom penthouses

sized at 4,930 sq ft fetched $9.7 million ($1,980

psf) in June 2011, and $10.8 million ($2,191

psf) in February 2014. The third five-bedroom,

4,715 sq ft penthouse was sold for $9.5 mil-

lion ($2,015 psf) in March 2014.

Two years ago, Frasers Centrepoint appoint-

ed acclaimed interior designer Suying Metro-

politan Studio to fully furnish the interior of

the remaining 4,715 sq ft penthouse with cus-

tomised European furnishings estimated to cost

over $1 million. The unit comes with unob-

structed 180° panoramic city views; a private

lift lobby; four bedrooms, including the master

suite; a private pool; and roof terrace. At that

time, the price tag for the fully furnished pent-

house was $10.8 million ($2,290 psf).

Frasers Centrepoint is now offering it for

$9 million ($1,908 psf). On top of that, the

new owner will be able to move in immediate-

ly after paying a 10% down payment if he is a

Singaporean or permanent resident, with the

balance due 12 months later. Meanwhile, for-

eigners have to put a down payment of 20%,

with the remaining 80% payable in 12 months.

Buyers will also have to pay a 3% stamp duty

and additional buyer’s stamp duty (ABSD) up-

front, if applicable. They also have to stump

up the maintenance fee for a 12-month period

amounting to $9,516, plus 7% GST.

Cheong: Such schemes will entice people back into the market, and move units that have remained unsold for at least two to three years

Eyo: The belief is that the penthouses are designed for the privileged few who do not need a discount or deferred payment scheme

THEEDGE SINGAPORE | AUGUST 8, 2016 • EP5

Listed property group United Industrial Corp (UIC) and sister company Singapore Land (SingLand) have rolled out a 12% discount package for its high-end five-storey condominium, Mon Jervois, located on Jervois Road in prime District 10. The 99-year leasehold low-rise project was launched in 2013 at an average price of $2,000 psf. As at end-June, 52 of the 109 units had been sold, according to URA data.

The 12% was offered in May to ensure that after the discount, prices will be competitive with those of new 99-year leasehold projects in the neighbouring Prince Charles Crescent, such as UOL Group’s adjacent Principal Garden, and The Crest by a Wing Tai-led consortium.

At 469-unit The Crest, the developer is offering a 15% discount and an interior design package worth $80,000 for one-bedroom units by upmarket interior design firm SuMisura. As at end-June, 124 units at The Crest had been sold at a median price of $1,720 psf. Meanwhile, 247 out of a total of 663 units at Principal Garden had been sold as at end-June, with the latest median price achieved of $1,614 psf. Developer UOL has also given an $8,000 price cut for units sold since July.

Mon Jervois has 15 penthouses measuring 1,475 sq ft for a two-bedroom unit to 3,003 sq ft for a four-bedroom-plus-family unit. Prices are said to range from $2.6 million ($1,762 psf) to $5 million

($1,665 psf) after a 12% discount. UIC-SingLand has also appointed SuMisura to design and furnish a handful of show units, including a 2,842 sq ft, three-bedroom-plus-family duplex penthouse. The asking price for the fully furnished penthouse is $4.88 million ($1,717 psf).

“Penthouses tend to have a limited pool of buyers and appeal mainly to foreigners,” says Joseph Tan, CBRE’s executive director of residential services. “At this price level, Singaporeans will opt for landed homes instead.”

CITY&COUNTRY

Night view of Mon Jervois’ 109-unit development by UIC/Singapore Land Group

Tan: Penthouses tend to have a limited pool of buyers and appeal mainly to foreigners

UIC/

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Living and dining area of the fully furnished 4,359 sq ft unit duplex penthouse at Reflections @ Keppel Bay, priced at $12.9 million

The main dining and living area of the sprawling fully furnished 6,265 sq ft, five-bedroom penthouse at d’Leedon, priced at $10.9 million

Unobstructed view from the four-bedroom, 5,726 sq ft duplex penthouse at The Interlace priced at $5.2 million, after discount

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Frasers Centrepoint is not the only one re-

sorting to all this. Keppel Land has rolled out

its own version of a stay-then-pay scheme for

12 of the 13 unsold penthouses at Reflection

at Keppel Bay. The 1,129-unit, 99-year lease-

hold development was designed by world-ac-

claimed architect Daniel Libeskind. Also com-

pleted in 2011, the entire project contains 35

penthouses.

Typical penthouses available for sale under

the deferred payment scheme range from a

3,724 sq ft, four-bedroom duplex to a 8,277

sq ft, five-bedroom duplex. They are priced

from $8.85 million ($2,376 psf) to $24.6 mil-

lion ($2,972 psf). A sole triplex super pent-

house of 13,293 sq ft comes with six bedrooms

and a price tag of $68 million.

Keppel Land’s rent-then-pay scheme for

the 12 penthouses works as follows: Buyers

need to pay a 5% down payment when they

exercise the option to purchase. They then

pay another 6% when they opt for the two-

year deferred payment scheme. The addi-

tional 6% down payment translates to two

years’ rent and a two-month deposit if one

were to lease the penthouse. At the end of

the two-year period, it can be used to offset

the balance payment.

The 13th remaining penthouse at Reflections

at Keppel Bay will be sold fully furnished by

Italian high-end furniture company Saporiti

Italia and is, therefore, not offered under the

deferred payment scheme. The 4,359 sq ft,

four-bedroom duplex is located on the sev-

enth floor of one of the low-rise villa blocks

fronting Marina at Keppel Bay. The asking

price is $12.9 million ($2,967 psf) after a 23%

discount. Buyers will have to pay 5% down

payment, followed by the remaining 95% ten

weeks later.

Alan Cheong, head of research at Savills Sin-

gapore, reckons developers are adopting such

strategies to clear their inventory of big-tick-

et units, such as penthouses, as the Monetary

Authority of Singapore recently announced that

it was unlikely to lift the property cooling meas-

ures before 2017. “Such schemes will entice

people back into the market, and move units

that have remained unsold for at least two to

three years,” Cheong says. “ Buyers will bene-

fit from such schemes, as they get to move

into the penthouses immediately and defer the

balance of the payment until 12 to 24 months

down the road.”

Interestingly, while the CapitaLand-led con-

sortium is offering the stay-then-pay programme

for the remaining units at 1,715-unit d’Leedon

and 1,040-unit The Interlace, these schemes

do not apply to the penthouses in these two

projects. Instead, the penthouses will only

enjoy up to 15% discount. “The developer

believes that buyers of penthouses tend to

be owner- occupiers and therefore are unlike-

ly to lease them out,” says Christie’s Eyo.

There are 29 unsold penthouses at d’Lee-

don, with sizes ranging from 2,949 to 6,265

sq ft. Of the units, only one will be sold ful-

ly furnished. It is also the largest available,

at 6,265 sq ft. The unit is located on the 33rd

floor of one of the seven towers and the inte-

rior was designed by Janet McGlennon Interi-

ors. The sprawling unit can be easily divided

into three sections — the main living and din-

ing area, the family area with four bedrooms,

and a one-bedroom section complete with its

own kitchen and living and dining area. All

five bedrooms come with en suite bathrooms.

The buyer has the option to turn it into a dual

key unit with a self-contained one-bedroom

apartment and separate four-bedroom unit.

The asking price for this unit is $10.9 million

($1,739 psf), after discount.

Meanwhile, The Interlace has 20 unsold

penthouses, which range from 3,488 sq ft

for a four-bedroom simplex to 6,308 sq ft for

a four-bedroom duplex with a roof terrace.

There is also a 5,877 sq ft triplex unit with

roof terrace.

A spacious four-bedroom, 5,726 sq ft du-

plex unit with roof terrace can be had for $5.2

million ($908 psf), after discount. From the

dining room, one gets a full view of the Pasir

Panjang Port, and the black-and-white bun-

galows in the Cornwall Road area. The living

room offers a clear view of Queensway all the

way to River Valley Road.

UIC offers 12% discount for Mon Jervois

EP6 • THEEDGE SINGAPORE | AUGUST 8, 2016

COVER STORY

Examining home ownershipASPIRATIONS

| BY FEILY SOFIAN & ESTHER HOON |

H omebuyers are upbeat about the

prospects of Singapore’s residential

market in the long run. About 43%,

or 217, of the 500 respondents polled

in a recent survey shared that they

were on the lookout to purchase a private

home in Singapore. The survey was joint-

ly conducted by property consultancy firm

Knight Frank and The Edge Property over a

one-month period starting from June 10. In-

terestingly, 59% of the 217 respondents who

plan to purchase a private home currently

own an existing property in Singapore, main-

ly an HDB flat, while another 21% own more

than one property.

Regardless of their intention to purchase

a private home, a vast majority, or 87% of

the 500 res pond ents, believed that Singapore

residential property makes a good investment,

citing potential capital appreciation as well

as the country’s stability and renowned sta-

tus as a gateway city and financial hub (see

Chart 1).

The minority, or 13% of respondents who

were less sanguine about Singapore properties,

was mostly concerned about the large supply of

homes, which would dampen rental yields. The

market has seen the new supply of residential

properties outstripping population growth in

recent years. This trend is likely to continue

over the next few years, says Knight Frank.

However, the property consultant highlight-

ed a pickup in purchases by foreign nationals

this year, which further underscores inves-

tor confidence in Singapore as a safe haven.

A total of 1,932 caveats were lodged by

foreign nationals, comprising permanent resi-

dents and non-PRs, for private non-landed

homes in 1H2016. This was 20% higher than

the 1,608 caveats lodged in the same period

last year (see Chart 2). The proportion of

foreign purchasers has remained largely un-

changed from last year because the number

of Singaporean purchasers has also increased.

“The rising number of foreign homebuyers

in recent quarters reflects the revival in

interest in Singapore residential property

over other overseas properties, given high-

er cur rency vola tility, a less transparent sys-

tem and tax considerations in other markets,”

notes Alice Tan, head of research at Knight

Frank Singapore.

Projects that drew a high proportion of

foreign purchasers in 2Q2016 include Ard-

more Three, Cairnhill Nine and OUE Twin

Peaks. Interestingly, some projects in the

city fringe and the suburb have also attract-

ed keen interest from PRs and non-PRs alike.

At Lakeville on Jurong Lake Link, foreign

purchasers accounted for 40% of the 40 ca-

veats lodged in 2Q2016 — 15% by PRs and

25% by non-PRs. Similarly, 47% of the 51

caveats lodged for Symphony Suites units in

2Q2016 were by foreign nationals.

Cautious interim outlookIn the short term, however, a confluence of

factors, including a frail economy, job uncertain-

ties and the additional buyer’s stamp duty

(ABSD) is deterring aspiring home buyers from

signing on the dotted line. The recent uptick

in sales was mostly driven by price incentives

and projects with strong location attributes.

Hence, among the 217 respondents who aspire

THE

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A vast majority of respondents believe that Singapore residential property makes a good investment

0

20

40

60

80

100%

78% 90% 90%

No, I do not own any properties in Singapore now

Yes, I own one property in Singapore

Yes, I own more than one property in Singapore

No Yes

Chart 1

CHAR

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RAN

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A joint survey by Knight Frank and The Edge Propertysheds light on market sentiment and preferences

NATIONAL NATIONAL DAY DAY

20162016

THEEDGE SINGAPORE | AUGUST 8, 2016 • EP7

COVER STORY

Private homes in the $1 million to $1.5 million price range were the most preferred choice

$1 mil to $1.5 mil42%

$1.5 mil to$2 mil

14%

$2 mil to$2.5 mil

8%

$2.5 mil to$3 mil

2%

$0.5 mil to $1 mil28%

>$3 mil4%

<$0.5 mil2%

The design, efficiency and size of the internal space can be enhanced to suit families with children

Married, no children18%

Married, 3-4 children

13%

Single19%

Married, 1-2 children47%

Others3%

The uptick in purchases by foreign nationals this year reflects investor confidence in Singapore as a safe haven

0

200

400

600

800

1200

1000

No of caveats by PRs and non-PRs

1Q2015 2Q2015 3Q2015 4Q2015 1Q2016 2Q2016

have accounted for the bulk of resale and sub-

sale caveats lodged annually. In the primary

market, however, units priced between $500,000

and $1 million formed the majority of new sale

caveats for private non-landed homes annually

over the same period. This might be owing to the

relatively smaller units offered in new projects.

The top three household income ranges

among the 217 respondents who aspire to own

a private home are $8,001 to $12,000 (21%)

$12,001 to $16,000 (20%) and $5,001 to $8,000

(20%). Notably, 18% of respondents reported

a household income of above $20,000.

Nearly half of the 217 respondents were

married with one to two children, which ex-

plains a higher preference for three-bedroom

units (see Chart 4). While the TDSR has

been blamed for the slower take-up of bigger

units in new projects, perhaps the design and

efficiency of the units in some projects or the

size of the internal space could be enhanced

for this group of buyers. E

Owing to economic uncertainties and the ABSD, most respondents will likely take up to 24 months or longer to commit to buying a new property

Tan attributes homebuyers’ optimism to Singapore’s safe-haven status, the government’s proactive strategies to advance real estate development anda stable Singapore dollar

URA,

KN

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Chart 3

Chart 4

to buy a private home, only 51, or 24%, were

likely to purchase their dream home over the

next 12 months. Meanwhile, 107 respondents,

or 49%, said they might take up to 24 months

to commit. The remaining 59 respondents, or

27%, could take longer than 24 months to

ink a deal.

When questioned on the outlook for the

Singapore economy and residential market,

half of the 217 respondents believed prices

will continue to fall over the next 12 months.

A bigger percentage of respondents said the

Singapore economy would fare worse in 2016

compared with last year. Beyond the next 24

months, however, 61% of respondents believed

that prices would begin to recover.

Rising job uncertainties are also keeping

homebuyers on the sidelines. Singapore’s un-

employment rate crept up from 1.9% in March

to 2.1% in June, according to preliminary es-

timates released on July 28 by the Ministry of

Manpower. About 68,300 residents were re-

ported to be unemployed as at June, up from

60,400 in March.

The survey also suggests that the ABSD con-

tinues to deter buyers from committing. About

58%, or 125 of the 217 respondents, would pur-

chase a private home within 12 months if the

ABSD was more favourable, up from 24% earlier.

For some buyers, the challenging market

presents an opportunity to unearth value

deals. Among the 51 respondents who are pre-

pared to commit in the next 12 months, 65%

believed there are good property investment

opportunities to be uncovered in this period.

The percentage is lower among the 107 and 59

respondents who might take up to 24 months

or more to buy their property, at 53% and

39% respectively.

Tan says the optimism about Singapore’s

property market prospects shown by a high

proportion of aspiring homebuyers is fuelled

mainly by our long-standing attributes. The

city state’s status as a safe haven for asset in-

vestments, the government’s proactive strat-

egies to advance real estate development and

the stable Singapore dollar all combine to

strengthen investor confidence in the prop-

erty market.

“However, headwinds persist for residential

property, in particular uncertain economic per-

formance, job security concerns and the pro-

longation of property cooling measures. De-

spite these challenges, interest in Singapore

residential property is anticipated to be sus-

tained in 2H2016, especially for properties in

the city centre and fringe locations, as unsold

inventory and upcoming launches taper off

and pent-up demand swells three years after

the imposition of the total debt servicing ra-

tio (TDSR). The continuing search for stable

property investment by both local and foreign

investors would support Singapore as one of

the property destinations of choice,” notes Tan.

Homebuyers’ wish listExpectedly, condominiums and apartments

emerged as the most popular choice of private

homes, with 199 of the 217 respondents con-

sidering to purchase them. Eight respondents

would only consider landed properties, either

strata or conventional landed homes.

Overall, private homes priced between $1

million and $1.5 million appear to be the pre-

ferred choice among homebuyers, with 42%

of the 217 respondents targeting to buy with-

in this range (see Chart 3). The trend was ob-

served across income bands, including among

respondents with a high gross household in-

come of above $16,000 and $20,000 a month.

Properties priced between $500,000 and

$1 million came in second, with 28% of re-

spondents indicating this price range as their

preferred choice.

Analysis of URA caveats supports this trend.

At least since 2011, private non-landed homes

priced between $1 million and $1.5 million

EP8 • THEEDGE SINGAPORE | AUGUST 8, 2016

| BY CECILIA CHOW |

Tiong Bahru has evolved into an interest-

ing enclave of indie cafés, coffee joints,

artisanal bakeries and restaurants.

Antique and art galleries, independ-

ent bookstore BooksActually, yoga

studios and offices of creative agencies have

also sprouted up in Singapore’s oldest hous-

ing estate, which is also the first to obtain

conservation status.

Joining the milieu are the realtors of SRI, a

real estate agency that opened its 2,000-sq-ft

office space a month ago on the ground floor

of a block on Eng Watt Street, off Seng Poh

Road. The co-working space environment with

its bar-height work tables is best suited for

realtors who work flexible hours and, some-

times, remotely.

SRI, founded by managing partners Bruce

Lye and Benson Koh two months ago, is a spin-

off from SRI5000, which the duo co- founded six

years ago as a division of SLP Realty. They have

kept SRI, the acronym for Singapore Realtors

Inc. “But we felt SRI5000 was too much of a

mouthful,” explains Lye. “SRI is a brand that

people already recognise, and it’s simpler, so

we dropped ‘5000’.”

The choice of Tiong Bahru was intentional,

and the office’s location on Eng Watt Street

is ideal, given its ample parking space. “Be-

fore we selected this location, we spent a

week coming at different times of the day to

make sure it wouldn’t be inconvenient for

our agents.”

A well-honed tradition at SRI5000 was the

adoption of “5000” by member agents for

their vehicle registration numbers and the

last four digits of their mobile phone num-

bers. The number has become synonymous

with the team’s identity, and the tradition

has continued in the new firm. “The number

is still in our hearts,” says Lye. “One of our

agents recently won the bid for the latest car

number plate — SLF 5000 — and has put it

on her new Lexus.”

Café cultureThe Eng Watt Street unit now occupied by

SRI was once a showroom of tile company

Rice, which vacated the place last year when

it moved into its own building on Hender son

Road. SRI gutted the unit to create an open-

floor plan with a café-like space. A meeting-

area-cum-pantry at the rear features a skylight.

“People are drawn to this place because

there’s more sunlight compared with our pre-

vious place, which was in a conventional

office building,” says Koh. “Now that we’re on

a ground floor, there’s more sunlight, a park

just across the street, coffee joints and cafés

in the vicinity.”

At SRI, there are currently 120 agents, many

of whom had moved over from SRI5000. Another

80 are coming on board, and that will bring

the total to 200. While the majority are from

SRI, about 15% are agents who are crossing

over from other agencies, says Koh.

SRI5000 split from SLP Realty to have greater

autonomy, according to the duo. “There were

many levels within SLP,” says Lye. “We had

many ideas, but we couldn’t always push

them through.” SLP Realty is a subsidiary

of SLP International Property Consultancy.

Including SRI5000 and SLP Scotia (renamed

Scotia Real Estate in March), SLP Realty had

about 1,100 agents.

Lye, 33, and Koh, 34, were also not keen

on managing the agency and wanted some-

one to help them with the day-to-day opera-

tions. “We felt we lacked the experience,”

says the former.

That led to the appointment of Tony Koe

as CEO of SRI. The 45-year-old Koe was ex-

ecutive director of SLP International for four

years before leaving in May to team up with

Koh and Lye. Prior to that, he was with JLL

and Knight Frank.

Things came to a head at SLP when parent

company ZACD Group announced early this

year that it was transforming the latter into

a private-equity firm, with Ryan Gwee as an

equity partner and group managing director

of ZACD Group since end-2015. Gwee was

CEO of Asia Capital Pioneers Group and, be-

fore that, head of private banking at Stand-

ard Chartered Bank (China). Also in place is

a team of ex-bankers in ZACD’s new finan-

cial services arm.

ZACD also launched its Asia Pacific Real

Estate Opportunistic (ARO) Fund Series II in

February, with a target to raise $300 million

in equity. The ARO Fund Series II will focus

on investments in three asset classes: high-

end residential property in Singa pore, indus-

trial properties with a focus on data centres in

Asia, and student accommodation in Australia.

The repositioning of ZACD into a private-

equity firm caused some confusion about the

role of SLP, according to a source. “Some clients

called asking whether SLP was still a real es-

tate agency or whether it was now involved

in fund raising, which put some of the real-

tors in a bit of a predicament.”

Efficiency and transparency However, the trio at SRI saw their departure

from SLP as an opportunity to start afresh in

their own outfit. While they will maintain the

same culture, the new firm will give them the

opportunity to roll out all the tech initiatives

that they wanted to introduce. One example

is the introduction of greater efficiency and

transparency with regard to billing and pay-

ment processes for commissions and co-broke

agents’ fees, says Koh.

Not knowing when a payment will be made

is a source of frustration to co-broke agents,

says Lye. If they are informed in real time when

payments are made, they will not have to keep

calling to find out. “Most people may not think

it’s a big deal, but it is important to agents.”

At SRI, the group will continue to focus

on resales — from mass market to luxury

homes — which form 80% of the business.

It will stay away from new project launches,

as these involve a lot of manpower and time

commitment. “It’s a numbers game,” says

Lye. “Leading up to the launch, agents have to

spend two months hyping the project and col-

lecting cheques. But on the actual day of the

launch, only a fraction of those who submitted

cheques will actually buy. So, for every three

happy faces, there will be seven sad agents at

the launch. As team leaders working along-

side our agents, we know how they feel and

want to avoid that.”

A case in point was the launch of execu-

tive condominium Treasure Crest in Sengkang.

A total of 1,077 e-applications were received

over a 10-day period last month. On the first

two days of booking over the weekend of July

16 and 17, 362 out of 504 units were sold. The

conversion rate from e-applicants to buyers was

33.6%, “which is considered good in today’s

market”, says SRI’s Koe.

“In another recent EC launch, there were 240

e-applications, but on the first weekend, only

24 units were sold. The number of agents in-

volved in the launch was at least 500,” he says.

ProjectsWhile SRI may not want to be the agents in-

volved in the first cut of new launches, the firm

relishes securing the sale of balance units in

the later phase. Since its inception, the real es-

tate agency has secured a handful of appoint-

ments from developers. These include Vue 8

Residences, a 463-unit private condo in Pasir

Ris by Capital Development and ZACD Invest-

ment. As at end-June, 341 units had been sold

at a median price of $959 psf. The developer

has appointed SRI to handle the sales of the

balance units.

Another project is an 11-storey commer-

cial development called Tai Seng Point at Ir-

ving Place, next to the Tai Seng MRT station.

The freehold project contains 47 strata units,

of which the 22 industrial units are fully sold.

Another 17 shop units and seven F&B units

are still available for sale. The developer is

SingHomes, a subsidiary of foundation and

geotechnical engineering firm CSC Holdings.

Another development where SRI has been

appointed an exclusive agent is One18 Resi-

dences in Phnom Penh by ASX-listed property

developer Kingsland Global. Thirty per cent

of the units in the development have already

been sold.

On Stevens Road in Singapore, The Pines, a

redevelopment of The Pines Country Club by

Singapore-listed property group Oxley Hold-

ings, will see the opening of two hotels by Ac-

corGroup: Ibis and Novotel. Oxley is leasing

out its retail and F&B space in the project, and

SRI is one of the leasing agents.

Koe sees opportunity to create a property

management arm as an extension of SRI’s

business. This will include private condo man-

agement under the Management Corpora tion

Strata Title (MCST), commercial and industrial

buildings. “Currently, property management

is still very old school,” he says. “We believe

develop ing technology applications for real

estate is something that will really elevate

the industry.”

PERSONALITY

The trio at SRI (from left): Lye, Koh and Koe

ALBE

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SRI5000 splits from SLP International

EP10 • THEEDGE SINGAPORE | AUGUST 8, 2016

| BY TAN CHEE YUEN |

Since Victoria Park Villas previewed on

July 16, at least four semi-detached

houses have been sold at prices ranging

from $4.39 million to $4.9 million, ac-

cording to caveats lodged over the week

of July 19 to 26. The 99-year leasehold landed

housing project by CapitaLand comprises 106

semi-detached houses and three bungalows.

The project is scheduled for completion in

early 2018.

The semi-detached houses at Victoria Park

Villas are priced from $4.3 million, or about

$2,000 psf. According to marketing agents,

CapitaLand is currently offering an early-bird dis-

count of 12%, with an additional 3% for those

who live within the same district; an education

discount for families whose children are study-

ing in nearby schools; an upgrader discount for

those making the transition from non-landed

to landed housing; a loyalty discount for those

who currently own a residential property de-

veloped by CapitaLand in Singapore; a multi-

purchase discount for those who buy more

than one unit; and a multi-family discount for

families who purchase two or more units. The

total discount granted will be capped at 15%.

Most of the purchasers at Victoria Park Vil-

las are said to be Singaporeans, who are either

buying for their own use or for their children,

say agents.

“$4.3 million is a great entry price for a

new house in a desirable, prime District 10

location such as Coronation Road and Victoria

Park Road,” says Grace Ng, deputy managing

director of Colliers International.

Nearby on Coronation Road West, a free-

hold semi-detached house changed hands for

$6 million last month. The property sits on a

land area of 4,510 sq ft, which translates to a

land price of $1,330 psf. However, the new own-

er would need to spend another $1.2 million to

$1.5 million to tear it down and rebuild a new

2½-storey house with a basement and attic, Ng

reckons. “Victoria Park Villas therefore appeals

to people who want a new property that they

can move into immediately as they find it too

troublesome to fix up an old house,” she says.

CapitaLand purchased the 403,012 sq ft,

99-year leasehold site bounded by Coronation

Road and Victoria Park Road for $366 million

in June 2013. This translated to a land price

of $908 psf per plot ratio. Assuming construc-

tion cost of about $300 to $400 psf, the break-

even price for Victoria Park Villas is estimat-

ed to be about $1,400 to $1,500 psf, Ng says.

The houses at Victoria Park Villas are said

to have built-up areas from 4,155 sq ft and fea-

ture contemporary architecture. Each house

contains four levels, including basement and

attic, five bedrooms, a private lift, fully fitted

kitchens and bathrooms. The houses come

equipped with biometric digital door lock and

home automation features that enable the

home owners to control air conditioning and

lighting remotely.

According to Ng, the last time a leasehold

landed housing development was launched in

the prime District 10 neighbourhood was two

decades ago. It was Kingsville, a 106-unit semi-

detached housing project on King’s Drive, by

developer Tuan Sing Holdings. The project has

a 102-year lease with effect from 1996. It was

launched for sale in March 1997 and completed

in 1999. The project is sought after by families

as it is adjacent to Nanyang Primary School.

The semi-detached houses at Kingsville

also contain five bedrooms, with built-up

areas ranging from 2,800 to 3,400 sq ft. The

land area of the units is from 2,325 to 3,843 sq

ft. In 1997, units were sold at prices ranging

from $1.99 million ($855 psf) to $2.75 million

($808 psf), according to caveats lodged then.

The latest transaction at Kingsville was for

a semi-detached house sitting on a land area

of 2,756 sq ft that changed hands for $3.85

million ($1,395 psf) in May. The 17-year old

house is sitting on a site that has 82 years left

on its lease, says Ng.

DONE DEALS

Singapore — by postal districtLOCALITIES DISTRICTSCity & Southwest 1 to 8Orchard/Tanglin/Holland 9 and 10Newton/Bukit Timah/Clementi 11 and 21Balestier/MacPherson/Geylang 12 to 14East Coast 15 and 16Changi/Pasir Ris 17 and 18Serangoon/Thomson 19 and 20West 22 to 24North 25 to 28

Residential transactions with contracts dated July 19 to 26

District 1 MARINA BAY SUITES Condominium 99 years July 26, 2016 2,680 6,000,000 - 2,239 2013 ResalePEOPLE’S PARK CENTRE Apartment 99 years July 25, 2016 2,336 1,450,000 - 621 1976 ResaleTHE CLIFT Apartment 99 years July 21, 2016 527 1,100,000 - 2,086 2011 ResaleV ON SHENTON Apartment 99 years July 21, 2016 1,216 2,470,500 - 2,031 Uncompleted New SaleDistrict 2 ALTEZ Apartment 99 years July 21, 2016 549 1,100,000 - 2,004 2014 ResaleDistrict 3 ALEX RESIDENCES Apartment 99 years July 20, 2016 926 1,665,167 - 1,799 Uncompleted New SaleALEX RESIDENCES Apartment 99 years July 24, 2016 926 1,627,000 - 1,758 Uncompleted New SaleASCENTIA SKY Condominium 99 years July 25, 2016 1,012 1,400,000 - 1,384 2013 ResaleHIGHLINE RESIDENCES Condominium 99 years July 20, 2016 506 1,087,200 - 2,149 Uncompleted New SaleHIGHLINE RESIDENCES Condominium 99 years July 21, 2016 1,087 1,772,000 - 1,630 Uncompleted New SalePRINCIPAL GARDEN Condominium 99 years July 19, 2016 1,195 1,848,000 1,840,000 1,540 Uncompleted New SalePRINCIPAL GARDEN Condominium 99 years July 20, 2016 506 867,000 859,000 1,698 Uncompleted New SalePRINCIPAL GARDEN Condominium 99 years July 20, 2016 484 808,000 800,000 1,652 Uncompleted New SalePRINCIPAL GARDEN Condominium 99 years July 21, 2016 1,195 1,778,000 1,770,000 1,481 Uncompleted New SalePRINCIPAL GARDEN Condominium 99 years July 22, 2016 1,572 2,458,000 2,450,000 1,559 Uncompleted New SalePRINCIPAL GARDEN Condominium 99 years July 23, 2016 861 1,386,000 1,378,000 1,600 Uncompleted New SalePRINCIPAL GARDEN Condominium 99 years July 23, 2016 861 1,334,000 1,326,000 1,540 Uncompleted New SalePRINCIPAL GARDEN Condominium 99 years July 24, 2016 797 1,326,000 1,318,000 1,655 Uncompleted New SalePRINCIPAL GARDEN Condominium 99 years July 24, 2016 797 1,301,000 1,293,000 1,623 Uncompleted New SalePRINCIPAL GARDEN Condominium 99 years July 24, 2016 506 888,000 880,000 1,739 Uncompleted New SalePRINCIPAL GARDEN Condominium 99 years July 24, 2016 495 822,000 814,000 1,644 Uncompleted New Sale

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

THE CREST Condominium 99 years July 23, 2016 2,002 3,251,000 - 1,624 Uncompleted New SaleTHE CREST Condominium 99 years July 24, 2016 635 1,081,000 - 1,702 Uncompleted New SaleDistrict 4 SKYLINE RESIDENCES Condominium Freehold July 20, 2016 484 950,000 - 1,961 2015 ResaleSKYLINE RESIDENCES Condominium Freehold July 21, 2016 484 972,000 - 2,007 2015 ResaleSKYLINE RESIDENCES Condominium Freehold July 22, 2016 1,292 2,200,000 - 1,703 2015 ResaleSKYLINE RESIDENCES Condominium Freehold July 22, 2016 484 1,000,000 - 2,064 2015 ResaleSKYLINE RESIDENCES Condominium Freehold July 25, 2016 484 994,000 - 2,052 2015 ResaleTERESA VILLE Condominium Freehold July 22, 2016 1,959 2,200,000 - 1,123 1986 ResaleTHE INTERLACE Condominium 99 years July 20, 2016 2,433 2,733,000 - 1,123 2013 ResaleTHE INTERLACE Condominium 99 years July 22, 2016 3,864 3,096,000 - 801 2013 ResaleTHE INTERLACE Condominium 99 years July 22, 2016 2,454 2,750,000 - 1,121 2013 ResaleTHE INTERLACE Condominium 99 years July 22, 2016 2,142 2,585,000 - 1,207 2013 ResaleTHE INTERLACE Condominium 99 years July 22, 2016 1,066 1,330,000 - 1,248 2013 ResaleDistrict 5 BLUE HORIZON Condominium 99 years July 25, 2016 1,163 1,200,000 - 1,032 2005 ResaleFABER DRIVE Detached Freehold July 21, 2016 9,053 6,000,000 - 662 1977 ResaleHERITAGE VIEW Condominium 99 years July 19, 2016 1,464 1,700,000 - 1,161 2000 ResaleHERITAGE VIEW Condominium 99 years July 22, 2016 969 1,170,000 - 1,208 2000 ResaleTHE PARC CONDOMINIUM Condominium Freehold July 22, 2016 1,421 1,780,000 - 1,253 2010 ResaleTHE STELLAR Condominium Freehold July 20, 2016 1,335 1,530,000 - 1,146 2008 ResaleTHE TRILINQ Condominium 99 years July 19, 2016 1,044 1,468,000 - 1,406 Uncompleted New SaleTHE TRILINQ Condominium 99 years July 20, 2016 915 1,243,000 - 1,359 Uncompleted New SaleTHE TRILINQ Condominium 99 years July 21, 2016 936 1,301,000 - 1,389 Uncompleted New SaleTHE TRILINQ Condominium 99 years July 21, 2016 936 1,232,000 - 1,316 Uncompleted New SaleTHE TRILINQ Condominium 99 years July 22, 2016 538 799,000 - 1,485 Uncompleted New SaleTHE TRILINQ Condominium 99 years July 23, 2016 1,044 1,457,000 - 1,395 Uncompleted New SaleTHE TRILINQ Condominium 99 years July 23, 2016 936 1,309,000 - 1,398 Uncompleted New SaleTHE TRILINQ Condominium 99 years July 23, 2016 936 1,286,000 - 1,373 Uncompleted New SaleTHE TRILINQ Condominium 99 years July 24, 2016 1,356 1,616,000 - 1,192 Uncompleted New SaleTHE TRILINQ Condominium 99 years July 24, 2016 936 1,249,000 - 1,334 Uncompleted New SaleWEST COAST ROAD Terrace Freehold July 19, 2016 1,851 2,510,000 - 1,358 1988 ResaleDistrict 9 CAIRNHILL NINE Apartment 99 years July 21, 2016 1,033 2,718,000 - 2,630 Uncompleted New SaleORCHARD SCOTTS Condominium 99 years July 22, 2016 1,647 2,368,000 - 1,438 2008 ResaleSOPHIA HILLS Condominium 99 years July 19, 2016 732 1,451,000 - 1,982 Uncompleted New SaleSOPHIA HILLS Condominium 99 years July 20, 2016 700 1,455,400 - 2,080 Uncompleted New SaleSOPHIA HILLS Condominium 99 years July 21, 2016 463 952,000 - 2,057 Uncompleted New SaleDistrict 10 90 HOLLAND ROAD Condominium Freehold July 19, 2016 1,582 2,180,000 - 1,378 1995 ResaleDUET Condominium Freehold July 21, 2016 1,744 2,300,000 - 1,319 2005 ResaleGRAMERCY PARK Condominium Freehold July 20, 2016 1,292 3,770,400 - 2,919 2016 New SaleJALAN AMPANG Detached Freehold July 22, 2016 7,858 13,000,000 - 1,654 Unknown ResaleJALAN LIM TAI SEE Semi-Detached Freehold July 22, 2016 4,650 3,100,000 - 667 2011 ResaleLEEDON RESIDENCE Condominium Freehold July 19, 2016 2,088 4,280,000 - 2,050 2015 New SaleLEEDON RESIDENCE Condominium Freehold July 23, 2016 1,044 2,330,000 - 2,232 2015 New SaleMARTINA MANSIONS Apartment Freehold July 22, 2016 1,259 1,880,000 - 1,493 2000 ResaleONE TREE HILL MANSIONS Apartment 99 years July 20, 2016 1,625 1,400,000 - 861 Unknown ResaleROBIN RESIDENCES Condominium Freehold July 19, 2016 829 1,920,000 - 2,317 2015 New SaleROBIN RESIDENCES Condominium Freehold July 21, 2016 527 1,168,000 - 2,214 2015 New SaleTHE EQUATORIAL Condominium Freehold July 26, 2016 2,067 3,500,000 - 1,694 2001 ResaleTHE NASSIM Condominium Freehold July 22, 2016 3,122 9,800,000 - 3,139 2015 ResaleTHE NASSIM Condominium Freehold July 25, 2016 1,927 6,282,000 - 3,260 2015 ResaleTHE TESSARINA Condominium Freehold July 21, 2016 1,356 1,920,000 - 1,416 2003 ResaleTHREE BALMORAL Apartment Freehold July 19, 2016 614 1,344,000 - 2,191 2016 New SaleVICTORIA PARK GROVE Semi-Detached 99 years July 21, 2016 2,540 4,907,000 - 1,932 Uncompleted New SaleVICTORIA PARK GROVE Semi-Detached 99 years July 21, 2016 2,271 4,658,000 - 2,050 Uncompleted New Sale

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

Victoria Park Villas, where the entry price for a 99-year leasehold semi-detached house is $4.3 million

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Semi-detached houses at Victoria Park Villas sold from $4.39 mil

THEEDGE SINGAPORE | AUGUST 8, 2016 • EP11

DONE DEALS

Residential transactions with contracts dated July 19 to 26

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

VICTORIA PARK GROVE Semi-Detached 99 years July 21, 2016 2,217 4,508,000 - 2,036 Uncompleted New SaleVICTORIA PARK GROVE Semi-Detached 99 years July 22, 2016 2,164 4,390,000 - 2,034 Uncompleted New SaleDistrict 11 108B SHREWSBURY ROAD Apartment Freehold July 21, 2016 1,389 1,680,000 - 1,210 Unknown ResaleCUBE 8 Condominium Freehold July 20, 2016 1,335 1,870,000 - 1,401 2013 ResaleNOVELIS Apartment Freehold July 25, 2016 807 1,280,000 - 1,586 2008 ResaleSKY@ELEVEN Condominium Freehold July 22, 2016 2,271 3,600,000 - 1,585 2010 ResaleTEN @ SUFFOLK Apartment Freehold July 25, 2016 1,087 1,430,000 - 1,315 2006 ResaleWATTEN DRIVE Terrace Freehold July 20, 2016 2,519 4,700,000 - 1,867 Unknown ResaleDistrict 12 10B WHAMPOA DRIVE Apartment Freehold July 20, 2016 969 900,000 - 929 Unknown ResaleIRESIDENCES Apartment Freehold July 21, 2016 980 1,370,000 - 1,399 2011 ResaleOKIO Apartment Freehold July 24, 2016 1,098 1,350,000 - 1,230 2015 New SaleOLEANDER TOWERS Apartment 99 years July 26, 2016 1,141 1,217,000 - 1,067 1997 ResaleTHE ABERDEEN Condominium Freehold July 20, 2016 1,302 1,250,000 - 960 1997 ResaleTREVISTA Condominium 99 years July 20, 2016 1,152 1,520,000 - 1,320 2011 ResaleTREVISTA Condominium 99 years July 22, 2016 1,270 1,650,000 - 1,299 2011 ResaleDistrict 13 8@WOODLEIGH Condominium 99 years July 19, 2016 1,001 1,230,000 - 1,229 2012 ResaleTHE POIZ RESIDENCES Apartment 99 years July 19, 2016 538 795,000 - 1,477 Uncompleted New SaleTHE POIZ RESIDENCES Apartment 99 years July 20, 2016 1,507 1,941,000 - 1,288 Uncompleted New SaleTHE POIZ RESIDENCES Apartment 99 years July 20, 2016 420 652,000 - 1,553 Uncompleted New SaleTHE POIZ RESIDENCES Apartment 99 years July 22, 2016 850 884,000 - 1,040 Uncompleted New SaleTHE POIZ RESIDENCES Apartment 99 years July 23, 2016 1,109 1,519,000 - 1,370 Uncompleted New SaleTHE POIZ RESIDENCES Apartment 99 years July 23, 2016 592 692,000 - 1,169 Uncompleted New SaleDistrict 14 JALAN SAYANG Terrace Freehold July 20, 2016 4,295 3,090,000 - 719 Uncompleted New SaleLENGKONG EMPAT Semi-Detached Freehold July 19, 2016 3,391 2,975,000 - 879 1996 ResaleSIMS URBAN OASIS Condominium 99 years July 19, 2016 710 917,000 - 1,291 Uncompleted New SaleSIMS URBAN OASIS Condominium 99 years July 20, 2016 463 708,000 - 1,530 Uncompleted New SaleSIMS URBAN OASIS Condominium 99 years July 21, 2016 1,023 1,353,792 - 1,324 Uncompleted New SaleSIMS URBAN OASIS Condominium 99 years July 21, 2016 667 918,500 - 1,376 Uncompleted New SaleSIMS URBAN OASIS Condominium 99 years July 22, 2016 624 845,000 - 1,353 Uncompleted New SaleSIMS URBAN OASIS Condominium 99 years July 23, 2016 624 843,500 - 1,351 Uncompleted New SaleSIMS URBAN OASIS Condominium 99 years July 24, 2016 958 1,350,000 - 1,409 Uncompleted New SaleSIMS URBAN OASIS Condominium 99 years July 24, 2016 667 922,185 - 1,382 Uncompleted New SaleSIMS URBAN OASIS Condominium 99 years July 24, 2016 624 848,000 - 1,358 Uncompleted New SaleSIMSVILLE Condominium 99 years July 26, 2016 1,238 1,265,000 - 1,022 1998 ResaleSMART SUITES Apartment Freehold July 26, 2016 452 608,000 - 1,345 2014 ResaleTHE WATERINA Apartment Freehold July 19, 2016 1,216 1,500,000 - 1,233 2005 ResaleTHE WATERINA Apartment Freehold July 22, 2016 1,130 1,233,800 - 1,092 2005 ResaleDistrict 15 8M RESIDENCES Apartment Freehold July 24, 2016 775 1,460,500 - 1,884 2016 New SaleAALTO Condominium Freehold July 19, 2016 1,959 2,900,000 - 1,480 2010 ResaleEAST COAST AVENUE Semi-Detached Freehold July 26, 2016 3,897 4,670,000 - 1,197 1974 ResaleFRANKEL AVENUE Semi-Detached Freehold July 25, 2016 3,703 4,450,000 - 1,202 1997 ResaleFULCRUM Condominium Freehold July 20, 2016 474 939,000 - 1,983 2016 New SaleJALAN BANGSAWAN Terrace Freehold July 21, 2016 1,765 2,410,000 - 1,369 Unknown ResaleKATONG VILLE Apartment Freehold July 22, 2016 1,195 1,290,000 - 1,080 2003 ResaleLAGUNA PARK Apartment 99 years July 21, 2016 1,453 1,205,000 - 829 1978 ResaleLEGENDA AT JOO CHIAT Condominium 99 years July 20, 2016 1,238 1,138,000 - 919 2004 ResaleLORONG L TELOK KURAU Terrace Freehold July 20, 2016 2,573 2,600,000 - 1,011 1974 ResaleMUGLISTON ROAD Detached Freehold July 22, 2016 5,974 6,399,000 - 1,071 1997 ResalePALM AVENUE Semi-Detached Freehold July 22, 2016 3,305 3,208,000 - 972 Unknown ResalePEBBLE LANE Terrace Freehold July 21, 2016 3,025 3,150,000 - 1,040 1971 ResalePRESIDIO Apartment Freehold July 21, 2016 969 1,138,000 - 1,175 2009 ResaleQUESTA @ DUNMAN Apartment Freehold July 20, 2016 753 1,115,000 - 1,480 2013 ResaleRIVEREDGE Condominium 99 years July 20, 2016 1,066 1,470,000 - 1,379 2008 ResaleSTRAITS MANSIONS Apartment Freehold July 23, 2016 1,249 2,166,000 - 1,735 Uncompleted New SaleSTRAITS MANSIONS Apartment Freehold July 23, 2016 1,066 1,895,000 - 1,778 Uncompleted New SaleSTRAITS MANSIONS Apartment Freehold July 23, 2016 1,066 1,871,000 - 1,756 Uncompleted New SaleSTRAITS MANSIONS Apartment Freehold July 23, 2016 1,066 1,819,000 - 1,707 Uncompleted New SaleSTRAITS MANSIONS Apartment Freehold July 23, 2016 1,012 1,701,000 - 1,681 Uncompleted New SaleSTRAITS MANSIONS Apartment Freehold July 23, 2016 1,012 1,694,000 - 1,674 Uncompleted New SaleSTRAITS MANSIONS Apartment Freehold July 23, 2016 721 1,338,000 - 1,855 Uncompleted New SaleSTRAITS MANSIONS Apartment Freehold July 23, 2016 721 1,328,000 - 1,841 Uncompleted New SaleSTRAITS MANSIONS Apartment Freehold July 23, 2016 721 1,318,000 - 1,828 Uncompleted New SaleSTRAITS MANSIONS Apartment Freehold July 23, 2016 721 1,308,000 - 1,814 Uncompleted New SaleTHE AMBRA Apartment Freehold July 20, 2016 1,173 1,176,000 - 1,002 2010 ResaleTHE MEYERISE Condominium Freehold July 21, 2016 1,819 2,726,000 - 1,499 2014 ResaleTHE SEAWIND Condominium Freehold July 24, 2016 657 988,000 - 1,505 2015 New SaleTHE SOVEREIGN Condominium Freehold July 19, 2016 2,637 4,200,000 - 1,593 1993 ResaleWILKINSON ROAD Semi-Detached Freehold July 21, 2016 3,337 2,850,000 - 854 2008 ResaleDistrict 16 AQUARIUS BY THE PARK Condominium 99 years July 19, 2016 2,110 1,560,000 - 739 2000 ResaleBAYSHORE PARK Condominium 99 years July 25, 2016 936 778,000 - 831 1986 ResaleCASA MERAH Apartment 99 years July 22, 2016 1,539 1,556,000 - 1,011 2009 ResaleLIMAU GARDEN Semi-Detached 99 years July 19, 2016 3,821 2,630,000 - 689 1996 ResaleOPTIMA @ TANAH MERAH Condominium 99 years July 22, 2016 1,001 1,176,175 - 1,175 2012 ResaleTANAH MERAH KECHIL AVENUE Terrace 99 years July 26, 2016 2,723 1,750,000 - 643 2000 ResaleTANAMERA CREST Condominium 99 years July 21, 2016 1,195 980,000 - 820 2004 ResaleTHE BAYSHORE Condominium 99 years July 25, 2016 1,023 910,000 - 890 1996 ResaleTHE GLADES Condominium 99 years July 19, 2016 1,001 1,320,000 - 1,319 Uncompleted New SaleTHE GLADES Condominium 99 years July 20, 2016 1,001 1,290,000 - 1,289 Uncompleted New SaleTHE GLADES Condominium 99 years July 20, 2016 840 1,111,000 - 1,323 Uncompleted New SaleTHE GLADES Condominium 99 years July 23, 2016 700 1,008,000 - 1,441 Uncompleted New SaleTHE GLADES Condominium 99 years July 24, 2016 581 838,000 - 1,442 Uncompleted New SaleTHE SUMMIT Condominium Freehold July 25, 2016 1,238 1,250,000 - 1,010 1992 ResaleDistrict 17 FERRARIA PARK CONDOMINIUM Condominium Freehold July 19, 2016 1,249 980,000 - 785 2009 ResaleLOYANG RISE Terrace 99 years July 22, 2016 2,153 1,600,000 - 743 1996 ResaleLOYANG VALLEY Condominium 99 years July 25, 2016 1,981 1,180,000 - 596 1985 ResaleDistrict 18 COCO PALMS Condominium 99 years July 21, 2016 1,098 1,237,600 - 1,127 Uncompleted New SaleD’NEST Condominium 99 years July 23, 2016 1,410 1,376,700 - 976 Uncompleted New SaleD’NEST Condominium 99 years July 24, 2016 1,410 1,360,000 - 964 Uncompleted New SaleDOUBLE BAY RESIDENCES Condominium 99 years July 22, 2016 1,367 1,480,000 - 1,083 2012 ResaleLIVIA Condominium 99 years July 22, 2016 1,539 1,300,000 - 845 2011 ResaleLIVIA Condominium 99 years July 22, 2016 1,259 940,000 - 746 2011 ResaleLIVIA Condominium 99 years July 26, 2016 1,270 1,048,000 - 825 2011 ResaleMELVILLE PARK Condominium 99 years July 21, 2016 1,087 700,000 - 644 1996 ResaleMELVILLE PARK Condominium 99 years July 25, 2016 936 715,000 - 764 1996 ResaleQ BAY RESIDENCES Condominium 99 years July 21, 2016 527 650,888 - 1,234 Uncompleted Sub SaleRIPPLE BAY Condominium 99 years July 19, 2016 614 608,000 - 991 2015 Sub SaleTHE PALETTE Condominium 99 years July 19, 2016 872 845,000 - 969 2015 Sub SaleTHE TROPICA Condominium 99 years July 22, 2016 990 765,000 - 773 2000 ResaleTROPICAL SPRING Condominium 99 years July 20, 2016 1,335 1,130,000 - 847 2002 ResaleVUE 8 RESIDENCE Condominium 99 years July 23, 2016 797 868,000 - 1,090 Uncompleted New SaleDistrict 19 A TREASURE TROVE Condominium 99 years July 25, 2016 1,044 1,150,000 - 1,101 2015 Sub SaleBELLEWATERS Executive Condominium 99 years July 19, 2016 1,238 963,340 - 778 Uncompleted New SaleBELLEWATERS Executive Condominium 99 years July 19, 2016 1,216 954,360 - 785 Uncompleted New Sale

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

BELLEWATERS Executive Condominium 99 years July 20, 2016 1,453 1,047,420 - 721 Uncompleted New SaleBELLEWATERS Executive Condominium 99 years July 20, 2016 1,249 996,660 - 798 Uncompleted New SaleBELLEWATERS Executive Condominium 99 years July 20, 2016 1,195 992,970 - 831 Uncompleted New SaleBELLEWATERS Executive Condominium 99 years July 20, 2016 1,270 983,580 - 774 Uncompleted New SaleBELLEWATERS Executive Condominium 99 years July 20, 2016 1,238 982,080 - 793 Uncompleted New SaleBELLEWATERS Executive Condominium 99 years July 20, 2016 1,216 966,240 - 794 Uncompleted New SaleBELLEWATERS Executive Condominium 99 years July 21, 2016 1,216 985,050 - 810 Uncompleted New SaleBELLEWATERS Executive Condominium 99 years July 21, 2016 1,410 940,900 - 667 Uncompleted New SaleBELLEWATERS Executive Condominium 99 years July 22, 2016 1,216 982,610 - 808 Uncompleted New SaleBELLEWATERS Executive Condominium 99 years July 23, 2016 1,711 1,195,920 - 699 Uncompleted New SaleBELLEWATERS Executive Condominium 99 years July 23, 2016 1,216 980,000 - 806 Uncompleted New SaleBELLEWATERS Executive Condominium 99 years July 23, 2016 1,216 972,180 - 799 Uncompleted New SaleBELLEWATERS Executive Condominium 99 years July 23, 2016 1,216 970,000 - 797 Uncompleted New SaleBELLEWATERS Executive Condominium 99 years July 23, 2016 1,270 965,000 - 760 Uncompleted New SaleBELLEWATERS Executive Condominium 99 years July 23, 2016 1,195 940,900 - 787 Uncompleted New SaleBELLEWATERS Executive Condominium 99 years July 24, 2016 1,604 1,107,810 - 691 Uncompleted New SaleBELLEWATERS Executive Condominium 99 years July 24, 2016 1,238 957,330 - 773 Uncompleted New SaleBOTANIQUE AT BARTLEY Condominium 99 years July 24, 2016 1,066 1,406,000 - 1,319 Uncompleted New SaleCHARLTON ROAD Detached Freehold July 26, 2016 5,920 5,000,000 - 844 1990 ResaleCHILTERN PARK Condominium 99 years July 25, 2016 1,302 1,090,000 - 837 1995 ResaleCHUAN CLOSE Terrace 99 years July 22, 2016 1,722 1,738,000 - 1,007 2000 ResaleD’PAVILION Apartment Freehold July 22, 2016 1,410 1,268,000 - 899 2010 ResaleFLO RESIDENCE Condominium 99 years July 25, 2016 764 830,000 - 1,086 2016 Sub SaleFLORENCE REGENCY Apartment 103 years July 20, 2016 1,690 870,000 - 515 Unknown ResaleHIGHLAND TERRACE Terrace Freehold July 21, 2016 2,013 2,500,000 - 1,243 1991 ResaleJALAN KESOMA Semi-Detached Freehold July 19, 2016 3,531 3,195,000 - 905 1976 ResaleJEWEL @ BUANGKOK Condominium 99 years July 20, 2016 1,141 1,344,000 - 1,178 Uncompleted New SaleJEWEL @ BUANGKOK Condominium 99 years July 21, 2016 1,356 1,774,500 - 1,308 Uncompleted New SaleKOVAN MELODY Condominium 99 years July 26, 2016 1,410 1,560,000 - 1,106 2006 ResaleLI HWAN DRIVE Terrace Freehold July 19, 2016 2,454 2,000,000 - 815 1976 ResaleSTARS OF KOVAN Apartment 99 years July 20, 2016 732 1,051,450 - 1,437 Uncompleted New SaleSTARS OF KOVAN Apartment 99 years July 21, 2016 743 971,550 - 1,308 Uncompleted New SaleSTARS OF KOVAN Apartment 99 years July 22, 2016 506 730,150 - 1,443 Uncompleted New SaleSTARS OF KOVAN Apartment 99 years July 23, 2016 506 742,900 - 1,468 Uncompleted New SaleSTARS OF KOVAN Apartment 99 years July 24, 2016 743 1,062,500 - 1,431 Uncompleted New SaleSTARS OF KOVAN Apartment 99 years July 24, 2016 743 982,600 - 1,323 Uncompleted New SaleSUNGLADE Condominium 99 years July 19, 2016 861 940,000 - 1,092 2003 ResaleSUNGLADE Condominium 99 years July 20, 2016 861 950,000 - 1,103 2003 ResaleTAI KENG GARDENS Terrace Freehold July 22, 2016 1,862 2,500,000 - 1,340 Unknown ResaleTHE AMORE Executive Condominium 99 years July 19, 2016 1,302 1,090,000 - 837 Uncompleted New SaleTHE AMORE Executive Condominium 99 years July 19, 2016 1,302 1,058,000 - 812 Uncompleted New SaleTHE AMORE Executive Condominium 99 years July 19, 2016 1,302 1,042,000 - 800 Uncompleted New SaleTHE AMORE Executive Condominium 99 years July 20, 2016 1,475 1,191,000 - 808 Uncompleted New SaleTHE AMORE Executive Condominium 99 years July 20, 2016 1,475 1,148,000 - 778 Uncompleted New SaleTHE AMORE Executive Condominium 99 years July 20, 2016 1,098 958,000 - 873 Uncompleted New SaleTHE AMORE Executive Condominium 99 years July 20, 2016 1,098 954,000 - 869 Uncompleted New SaleTHE AMORE Executive Condominium 99 years July 21, 2016 1,475 1,155,000 - 783 Uncompleted New SaleTHE AMORE Executive Condominium 99 years July 22, 2016 1,475 1,170,000 - 793 Uncompleted New SaleTHE AMORE Executive Condominium 99 years July 23, 2016 1,302 1,048,000 - 805 Uncompleted New SaleTHE AMORE Executive Condominium 99 years July 23, 2016 1,098 937,000 - 853 Uncompleted New SaleTHE QUARTZ Condominium 99 years July 20, 2016 1,141 1,146,000 - 1,004 2009 ResaleTHE QUARTZ Condominium 99 years July 25, 2016 1,141 1,090,000 - 955 2009 ResaleTHE RIVERVALE Executive Condominium 99 years July 21, 2016 1,302 868,000 - 666 2000 ResaleTHE TERRACE Executive Condominium 99 years July 21, 2016 1,076 839,000 - 779 Uncompleted New SaleTHE TERRACE Executive Condominium 99 years July 24, 2016 1,076 862,300 852,300 792 Uncompleted New SaleTHE TERRACE Executive Condominium 99 years July 24, 2016 1,001 814,400 801,400 801 Uncompleted New SaleTHE VALES Executive Condominium 99 years July 19, 2016 915 749,000 - 819 Uncompleted New SaleTHE VALES Executive Condominium 99 years July 20, 2016 1,033 794,000 - 768 Uncompleted New SaleTHE VALES Executive Condominium 99 years July 24, 2016 904 750,680 - 830 Uncompleted New SaleTHE VALES Executive Condominium 99 years July 24, 2016 904 720,710 - 797 Uncompleted New SaleTREASURE CREST Executive Condominium 99 years July 19, 2016 1,152 873,000 - 758 Uncompleted New SaleTREASURE CREST Executive Condominium 99 years July 20, 2016 1,152 872,000 - 757 Uncompleted New SaleTREASURE CREST Executive Condominium 99 years July 20, 2016 1,076 810,000 - 753 Uncompleted New SaleTREASURE CREST Executive Condominium 99 years July 20, 2016 1,152 773,000 - 671 Uncompleted New SaleTREASURE CREST Executive Condominium 99 years July 20, 2016 1,076 762,000 - 708 Uncompleted New SaleTREASURE CREST Executive Condominium 99 years July 21, 2016 1,152 894,000 - 776 Uncompleted New SaleTREASURE CREST Executive Condominium 99 years July 21, 2016 1,152 845,000 - 734 Uncompleted New SaleTREASURE CREST Executive Condominium 99 years July 23, 2016 1,152 886,000 - 769 Uncompleted New SaleTREASURE CREST Executive Condominium 99 years July 23, 2016 1,152 885,000 - 768 Uncompleted New SaleTREASURE CREST Executive Condominium 99 years July 23, 2016 1,076 814,000 - 756 Uncompleted New Sale

CONTINUES NEXT PAGE

EP12 • THEEDGE SINGAPORE | AUGUST 8, 2016

Residential transactions with contracts dated July 19 to 26

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

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

DONE DEALS

THE PETALS Condominium Freehold July 20, 2016 1,550 1,330,000 - 858 2002 ResaleWANDERVALE Executive Condominium 99 years July 19, 2016 1,098 872,000 - 794 Uncompleted New SaleWANDERVALE Executive Condominium 99 years July 19, 2016 1,098 839,000 - 764 Uncompleted New SaleWANDERVALE Executive Condominium 99 years July 19, 2016 1,087 838,000 - 771 Uncompleted New SaleWANDERVALE Executive Condominium 99 years July 19, 2016 1,087 813,000 - 748 Uncompleted New SaleWANDERVALE Executive Condominium 99 years July 19, 2016 1,098 774,000 - 705 Uncompleted New SaleWANDERVALE Executive Condominium 99 years July 20, 2016 1,098 768,000 - 699 Uncompleted New SaleWANDERVALE Executive Condominium 99 years July 21, 2016 1,130 863,000 - 764 Uncompleted New SaleWANDERVALE Executive Condominium 99 years July 21, 2016 1,130 859,000 - 760 Uncompleted New SaleWANDERVALE Executive Condominium 99 years July 23, 2016 1,098 803,000 - 731 Uncompleted New SaleWANDERVALE Executive Condominium 99 years July 24, 2016 1,098 865,000 - 788 Uncompleted New SaleWANDERVALE Executive Condominium 99 years July 24, 2016 1,098 845,000 - 770 Uncompleted New SaleWANDERVALE Executive Condominium 99 years July 24, 2016 958 759,000 - 792 Uncompleted New SaleWANDERVALE Executive Condominium 99 years July 24, 2016 958 745,000 - 778 Uncompleted New SaleWANDERVALE Executive Condominium 99 years July 24, 2016 958 659,000 - 688 Uncompleted New SaleDistrict 25 BELLEWOODS Executive Condominium 99 years July 20, 2016 1,184 939,510 - 793 Uncompleted New SaleBELLEWOODS Executive Condominium 99 years July 21, 2016 1,528 1,130,000 - 739 Uncompleted New SaleBELLEWOODS Executive Condominium 99 years July 22, 2016 1,259 1,008,810 - 801 Uncompleted New SaleBELLEWOODS Executive Condominium 99 years July 22, 2016 1,066 818,300 - 768 Uncompleted New SaleBELLEWOODS Executive Condominium 99 years July 23, 2016 1,066 873,180 - 819 Uncompleted New SaleBELLEWOODS Executive Condominium 99 years July 24, 2016 1,152 928,620 - 806 Uncompleted New SaleBELLEWOODS Executive Condominium 99 years July 24, 2016 936 778,140 - 831 Uncompleted New SaleNORTHWAVE Executive Condominium 99 years July 19, 2016 1,098 826,000 - 752 Uncompleted New SaleNORTHWAVE Executive Condominium 99 years July 23, 2016 753 559,000 - 742 Uncompleted New SaleNORTHWAVE Executive Condominium 99 years July 24, 2016 990 753,900 - 761 Uncompleted New SaleNORTHWAVE Executive Condominium 99 years July 24, 2016 678 496,600 - 732 Uncompleted New SalePARC ROSEWOOD Condominium 99 years July 19, 2016 431 530,000 - 1,231 2014 ResaleROSEWOOD Condominium 99 years July 20, 2016 1,012 816,000 - 806 2003 ResaleROSEWOOD SUITES Condominium 99 years July 19, 2016 710 662,800 - 933 2011 ResaleWOODSVALE Executive Condominium 99 years July 22, 2016 1,378 825,000 - 599 2000 ResaleDistrict 26 TAGORE AVENUE Semi-Detached 99 years July 26, 2016 3,165 1,930,000 - 610 2014 ResaleDistrict 27 CANBERRA RESIDENCES Condominium 99 years July 26, 2016 700 660,000 - 943 2013 ResaleJALAN LEGUNDI Semi-Detached Freehold July 22, 2016 3,595 2,550,000 - 709 1966 ResaleNORTH PARK RESIDENCES Apartment 99 years July 23, 2016 829 1,090,000 - 1,315 Uncompleted New SaleNORTH PARK RESIDENCES Apartment 99 years July 24, 2016 1,227 1,345,500 - 1,096 Uncompleted New SaleNORTH PARK RESIDENCES Apartment 99 years July 24, 2016 1,055 1,292,280 - 1,225 Uncompleted New SalePARC LIFE Executive Condominium 99 years July 19, 2016 1,270 1,065,260 1,062,960 837 Uncompleted New SalePARC LIFE Executive Condominium 99 years July 23, 2016 1,109 912,000 909,700 821 Uncompleted New SalePARC LIFE Executive Condominium 99 years July 23, 2016 936 688,750 686,450 733 Uncompleted New SalePARC LIFE Executive Condominium 99 years July 23, 2016 936 680,200 677,900 724 Uncompleted New SalePARC LIFE Executive Condominium 99 years July 24, 2016 764 627,000 624,700 817 Uncompleted New SaleSYMPHONY SUITES Condominium 99 years July 23, 2016 689 728,000 - 1,057 Uncompleted New SaleSYMPHONY SUITES Condominium 99 years July 24, 2016 786 870,000 - 1,107 Uncompleted New SaleTHE BROWNSTONE Executive Condominium 99 years July 21, 2016 1,109 846,400 - 763 Uncompleted New SaleTHE BROWNSTONE Executive Condominium 99 years July 21, 2016 958 782,400 - 817 Uncompleted New SaleTHE BROWNSTONE Executive Condominium 99 years July 22, 2016 1,109 867,200 - 782 Uncompleted New SaleTHE BROWNSTONE Executive Condominium 99 years July 22, 2016 980 804,000 - 821 Uncompleted New SaleTHE BROWNSTONE Executive Condominium 99 years July 23, 2016 980 792,000 - 809 Uncompleted New SaleTHE CRITERION Executive Condominium 99 years July 23, 2016 893 746,400 - 835 Uncompleted New SaleTHE ESTUARY Condominium 99 years July 21, 2016 926 840,000 - 907 2013 ResaleTHE VISIONAIRE Executive Condominium 99 years July 19, 2016 1,023 838,785 - 820 Uncompleted New SaleTHE VISIONAIRE Executive Condominium 99 years July 20, 2016 1,206 871,000 - 722 Uncompleted New SaleTHE VISIONAIRE Executive Condominium 99 years July 21, 2016 1,152 968,000 - 840 Uncompleted New SaleTHE VISIONAIRE Executive Condominium 99 years July 21, 2016 872 708,000 - 812 Uncompleted New SaleTHE VISIONAIRE Executive Condominium 99 years July 23, 2016 1,141 881,520 - 773 Uncompleted New SaleTHE VISIONAIRE Executive Condominium 99 years July 23, 2016 958 792,000 - 827 Uncompleted New SaleTHE VISIONAIRE Executive Condominium 99 years July 23, 2016 721 618,000 - 857 Uncompleted New SaleDistrict 28 BELGRAVIA DRIVE Terrace Freehold July 19, 2016 3,638 2,910,000 - 800 Uncompleted New SaleHIGH PARK RESIDENCES Apartment 99 years July 22, 2016 678 768,112 - 1,133 Uncompleted New SaleRIVERBANK @ FERNVALE Condominium 99 years July 24, 2016 1,012 950,000 945,000 934 Uncompleted New SaleRIVERTREES RESIDENCES Apartment 99 years July 24, 2016 1,119 1,241,240 - 1,109 Uncompleted New SaleSUNRISE AVENUE Semi-Detached Freehold July 25, 2016 3,692 3,030,000 - 820 1989 Resale

DISCLAIMER: Source: URA Realis. Updated August 2, 2016. The Edge Publishing Pte Ltd shall not be responsible for any loss or liability arising directly or indirectly from the use of, or reliance on, the information provided therein.

*Not all the transactions for Lake Grande are reflected as close to 500 units were sold on the weekend of July 25-26

FROM PREVIOUS PAGE

TREASURE CREST Executive Condominium 99 years July 23, 2016 1,076 807,000 - 750 Uncompleted New SaleTREASURE CREST Executive Condominium 99 years July 23, 2016 1,076 807,000 - 750 Uncompleted New SaleTREASURE CREST Executive Condominium 99 years July 24, 2016 1,152 861,000 - 748 Uncompleted New SaleTREASURE CREST Executive Condominium 99 years July 24, 2016 1,076 796,000 - 740 Uncompleted New SaleTREASURE CREST Executive Condominium 99 years July 24, 2016 1,076 753,000 - 700 Uncompleted New SaleTREASURE CREST Executive Condominium 99 years July 24, 2016 1,076 737,000 - 685 Uncompleted New SaleTRILIVE Condominium Freehold July 23, 2016 1,163 1,777,000 - 1,529 Uncompleted New SaleTRILIVE Condominium Freehold July 23, 2016 1,163 1,762,000 - 1,516 Uncompleted New SaleTRILIVE Condominium Freehold July 23, 2016 1,163 1,662,000 - 1,430 Uncompleted New SaleTRILIVE Condominium Freehold July 24, 2016 904 1,371,000 - 1,516 Uncompleted New SaleTRILIVE Condominium Freehold July 24, 2016 624 1,030,000 - 1,650 Uncompleted New SaleWATERWOODS Executive Condominium 99 years July 22, 2016 1,636 1,342,412 - 820 2015 New SaleDistrict 20 BISHAN LOFT Executive Condominium 99 years July 19, 2016 1,464 1,550,000 - 1,059 2003 ResaleFLORAVIEW Apartment Freehold July 22, 2016 1,023 1,217,300 - 1,190 Uncompleted New SaleJALAN GELENGGANG Terrace Freehold July 26, 2016 2,648 3,000,000 - 1,134 Unknown ResaleJALAN LANJUT Terrace Freehold July 25, 2016 2,982 2,860,000 - 959 Unknown ResaleSKY VUE Condominium 99 years July 22, 2016 797 1,320,000 - 1,657 Uncompleted New SaleSKY VUE Condominium 99 years July 22, 2016 678 1,166,300 - 1,720 Uncompleted New SaleSKY VUE Condominium 99 years July 24, 2016 484 875,000 - 1,806 Uncompleted New SaleTAMAN PERMATA Terrace Freehold July 20, 2016 1,981 2,300,000 - 1,163 1975 ResaleTHE GARDENS AT BISHAN Condominium 99 years July 22, 2016 1,206 1,170,000 - 970 2004 ResaleTHE GARDENS AT BISHAN Condominium 99 years July 26, 2016 1,206 1,250,000 - 1,037 2004 ResaleTHE PANORAMA Condominium 99 years July 20, 2016 1,141 1,391,765 - 1,220 Uncompleted New SaleTHE PANORAMA Condominium 99 years July 20, 2016 1,012 1,203,269 - 1,189 Uncompleted New SaleTHE PANORAMA Condominium 99 years July 22, 2016 1,141 1,379,984 - 1,209 Uncompleted New SaleTHE PANORAMA Condominium 99 years July 22, 2016 1,001 1,226,741 - 1,225 Uncompleted New SaleTHE PANORAMA Condominium 99 years July 24, 2016 1,130 1,340,981 - 1,186 Uncompleted New SaleTHE PANORAMA Condominium 99 years July 24, 2016 1,066 1,272,616 - 1,194 Uncompleted New SaleTHOMSON IMPRESSIONS Apartment 99 years July 24, 2016 463 762,597 - 1,648 Uncompleted New SaleDistrict 21 ASTOR GREEN Condominium 99 years July 19, 2016 1,528 1,550,000 - 1,014 1995 ResaleCAVENDISH PARK Condominium 99 years July 19, 2016 1,410 1,550,000 - 1,099 1996 ResaleFREESIA WOODS Condominium Freehold July 22, 2016 1,432 1,680,000 - 1,174 2003 ResaleHIGHGATE Condominium Freehold July 19, 2016 1,378 1,290,000 - 936 1995 ResaleKILAT CENTRE Apartment Freehold July 19, 2016 1,249 1,140,000 - 913 1989 ResaleMAPLEWOODS Condominium Freehold July 22, 2016 1,787 2,420,000 - 1,354 1997 ResaleREGIS MANSIONS Apartment Freehold July 26, 2016 1,023 868,000 - 849 1998 ResaleSIGNATURE PARK Condominium Freehold July 19, 2016 1,690 1,683,800 - 996 1998 ResaleSPRINGDALE CONDOMINIUM Condominium 999 years July 19, 2016 1,152 1,180,000 - 1,025 1998 ResaleSUITES DE LAUREL Apartment 999 years July 19, 2016 474 780,000 - 1,647 2012 ResaleTHE BLOSSOMVALE Condominium 999 years July 26, 2016 1,711 1,915,000 - 1,119 1998 ResaleTHE CREEK @ BUKIT Condominium Freehold July 24, 2016 936 1,605,000 - 1,714 Uncompleted New SaleTHE CREEK @ BUKIT Condominium Freehold July 24, 2016 657 1,070,610 - 1,631 Uncompleted New SaleDistrict 22 LAKE GRANDE* Condominium 99 years July 24, 2016 904 1,285,000 - 1,421 Uncompleted New SaleLAKE GRANDE Condominium 99 years July 24, 2016 904 1,271,000 - 1,406 Uncompleted New SaleLAKE GRANDE Condominium 99 years July 24, 2016 980 1,258,000 - 1,284 Uncompleted New SaleLAKE GRANDE Condominium 99 years July 24, 2016 1,012 1,223,000 - 1,209 Uncompleted New SaleLAKE GRANDE Condominium 99 years July 24, 2016 861 1,116,000 - 1,296 Uncompleted New SaleLAKE GRANDE Condominium 99 years July 24, 2016 775 1,061,000 - 1,369 Uncompleted New SaleLAKE GRANDE Condominium 99 years July 24, 2016 775 1,052,000 - 1,357 Uncompleted New SaleLAKE GRANDE Condominium 99 years July 24, 2016 850 1,051,000 - 1,236 Uncompleted New SaleLAKE GRANDE Condominium 99 years July 24, 2016 818 1,045,000 - 1,277 Uncompleted New SaleLAKE GRANDE Condominium 99 years July 24, 2016 775 1,022,000 - 1,319 Uncompleted New SaleLAKE GRANDE Condominium 99 years July 24, 2016 721 947,000 - 1,313 Uncompleted New SaleLAKE GRANDE Condominium 99 years July 24, 2016 667 937,000 - 1,404 Uncompleted New SaleLAKE GRANDE Condominium 99 years July 24, 2016 721 927,000 - 1,285 Uncompleted New SaleLAKE GRANDE Condominium 99 years July 24, 2016 721 915,000 - 1,269 Uncompleted New SaleLAKE GRANDE Condominium 99 years July 24, 2016 667 912,000 - 1,367 Uncompleted New SaleLAKE GRANDE Condominium 99 years July 24, 2016 721 887,000 - 1,230 Uncompleted New SaleLAKE GRANDE Condominium 99 years July 24, 2016 624 843,000 - 1,350 Uncompleted New SaleLAKE GRANDE Condominium 99 years July 24, 2016 614 812,000 - 1,323 Uncompleted New SaleLAKE GRANDE Condominium 99 years July 24, 2016 517 709,000 - 1,372 Uncompleted New SaleLAKE GRANDE Condominium 99 years July 24, 2016 474 706,000 - 1,491 Uncompleted New SaleLAKEVILLE Condominium 99 years July 21, 2016 1,281 1,671,882 1,663,882 1,299 Uncompleted New SaleLAKEVILLE Condominium 99 years July 22, 2016 1,302 1,745,825 1,738,000 1,334 Uncompleted New SaleLAKEVILLE Condominium 99 years July 22, 2016 1,302 1,718,937 1,708,937 1,312 Uncompleted New SaleLAKEVILLE Condominium 99 years July 22, 2016 1,302 1,676,684 1,666,684 1,280 Uncompleted New SalePARC VISTA Condominium 99 years July 21, 2016 1,270 950,000 - 748 1997 ResaleSUMMERDALE Executive Condominium 99 years July 20, 2016 1,216 830,000 - 682 2000 ResaleTHE CENTRIS Apartment 99 years July 19, 2016 1,292 1,358,888 - 1,052 2009 ResaleTHE LAKESHORE Condominium 99 years July 25, 2016 1,184 1,280,000 - 1,081 2007 ResaleTHE LAKESHORE Condominium 99 years July 26, 2016 926 940,000 - 1,015 2007 ResaleTHE MAYFAIR Condominium 99 years July 21, 2016 1,109 1,015,000 - 915 2000 ResaleWESTWOOD RESIDENCES Executive Condominium 99 years July 24, 2016 1,238 1,031,000 - 833 Uncompleted New SaleWESTWOOD RESIDENCES Executive Condominium 99 years July 24, 2016 1,238 954,400 - 771 Uncompleted New SaleWESTWOOD RESIDENCES Executive Condominium 99 years July 24, 2016 947 745,200 - 787 Uncompleted New SaleDistrict 23 BURGUNDY DRIVE Semi-Detached 99 years July 21, 2016 2,756 2,050,000 - 745 1999 ResaleECO SANCTUARY Condominium 99 years July 20, 2016 990 1,172,860 - 1,184 Uncompleted New SaleGUILIN VIEW Condominium 99 years July 25, 2016 1,496 1,220,000 - 815 2000 ResaleHILLVIEW RESIDENCE Condominium 999 years July 20, 2016 1,453 1,138,000 - 783 2002 ResaleJALAN EMAS URAI Semi-Detached 999 years July 25, 2016 3,800 2,300,000 - 605 2009 ResaleMAYSPRINGS Apartment 99 years July 19, 2016 1,302 980,000 - 752 1998 ResaleMAYSPRINGS Apartment 99 years July 20, 2016 904 755,000 - 835 1998 ResaleMAYSPRINGS Apartment 99 years July 26, 2016 1,550 980,000 - 632 1998 ResaleMI CASA Condominium 99 years July 21, 2016 1,119 932,000 - 833 2012 ResalePALM GARDENS Condominium 99 years July 26, 2016 1,432 980,000 - 685 2000 ResalePARKVIEW APARTMENTS Apartment 99 years July 20, 2016 936 695,000 - 742 1998 ResaleSOL ACRES Executive Condominium 99 years July 21, 2016 1,044 845,000 - 809 Uncompleted New SaleSOL ACRES Executive Condominium 99 years July 24, 2016 1,163 970,000 - 834 Uncompleted New SaleSOL ACRES Executive Condominium 99 years July 24, 2016 1,066 807,000 - 757 Uncompleted New SaleSOL ACRES Executive Condominium 99 years July 24, 2016 1,001 803,000 - 802 Uncompleted New SaleSOL ACRES Executive Condominium 99 years July 24, 2016 710 571,000 - 804 Uncompleted New SaleTHE HILLIER Apartment 99 years July 26, 2016 517 670,000 - 1,297 Uncompleted Sub Sale

THEEDGE SINGAPORE | AUGUST 8, 2016 • EP13

| BY ESTHER HOON |

Another seller at Orchard Scotts in-

curred a hefty loss despite having

held the unit for nearly eight years.

The loss, which amounted to $1.6

million, accrued to a 1,647 sq ft unit

that was purchased in August 2008 at $2,438

psf. The unit changed hands at $1,438 psf on

July 22, which was 40% below its purchase

price, reflecting an annualised loss of 6%.

In June, a 2,282 sq ft unit on the ninth floor

was sold at a $2.4 million loss. All the resale

transactions in the project since 2H2014 have

been unprofitable. Orchard Scotts is a 99-year

leasehold condominium in District 9 that was

completed in 2008.

Separately, a 2,680 sq ft unit at Marina

Bay Suites, a 99-year leasehold condo in Dis-

trict 1, was sold at a loss of $1 million after a

six-year holding period. The seller purchased

the unit at $2,623 psf from the developer in

December 2009 and resold it at $2,239 psf

on July 26. In January, another 2,680 sq ft

unit on the eighth floor was sold at a loss of

$1.8 million.

The most profitable non-landed home sold

in the week of July 19 to 26 was a 2,271 sq ft

unit at Sky@Eleven. The unit fetched a profit

of $1.1 million, or an annualised gain of 4%,

after being held for nine years. The seller pur-

chased the unit in a sub-sale in April 2007 at

$1,110 psf and resold it at $1,585 psf. Sky@

Eleven is a freehold condo on Thomson Lane

in prime District 11. The 273-unit develop-

ment was completed in 2010. Of the five units

sold at the condo this year, four fetched lucra-

tive profits exceeding $800,000 each. The four

units were purchased in 2007 and 2009. The

unprofitable transaction was traced to a unit

that was bought in 2011.

In the same week, two detached houses

fetched a profit exceeding $4 million each for

the sellers. The bigger profit of $4.7 million ac-

crued to a house on Jalan Ampang in prime

District 10 that sits on a 7,858 sq ft freehold

site. The property was purchased in December

2009 at $1,056 psf on land area and resold at

$1,654 psf, reflecting an annualised gain of 7%.

The smaller profit of $4.6 million accrued

to a house on Mugliston Road in District 15.

The property, which sits on a 5,974 sq ft free-

hold site, was purchased in December 2004

at $303 psf on land area and resold at $1,071

psf. The annualised gain works out to 11%.

The profits do not take into account any

construction cost or enhancements done to

the property.

Meanwhile, three strata houses were sold

at losses ranging from $180,000 to $450,000

in the week of July 19 to 26. The top loss of

$450,000 was traced to a 3,800 sq ft semi-de-

tached house on Jalan Emas Urai in District

23. The house, which sits on a 999-year lease-

hold site, was purchased in December 2007 at

$724 psf and resold at $605 psf.

On Tagore Avenue in District 26, a 3,165 sq

ft strata house was sold at a loss of $232,888.

The 99-year leasehold semi-detached house

was bought at $683 psf in January 2011 and

resold at $610 psf.

The third unprofitable deal was for a free-

hold, 4,650 sq ft strata semi-detached house

on Jalan Lim Tai See in District 10. The seller

took in a loss of $181,000, having purchased

the property in September 2008 at $706 psf

and resold it at $667 psf.

Residential transactions with contracts dated July 19 to 26 U

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Most profi table deals

Non-profi table deals

FACTS + FIGURES

PROJECT DISTRICT AREA (SQ FT) SOLD ON SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) PROFIT ($) PROFIT (%) ANNUALISED PROFIT (%) HOLDING PERIOD (YEARS)NON-LANDED 1 Sky@Eleven 11 2,271 22-Jul-16 1,585 5-Apr-07 1,110 1,079,190 43 4 9.3 2 Bishan Loft 20 1,464 19-Jul-16 1,059 4-Sep-01 414 943,747 156 7 14.9 3 Duet 10 1,744 21-Jul-16 1,319 24-Nov-05 803 900,000 64 5 10.7 4 The Equatorial 10 2,067 26-Jul-16 1,694 1-Jul-00 1,282 850,320 32 2 16.1 5 Freesia Woods 21 1,432 22-Jul-16 1,174 24-Feb-06 657 740,000 79 6 10.4 6 Katong Ville 15 1,195 22-Jul-16 1,080 6-Dec-05 492 702,000 119 8 10.6 7 The Centris 22 1,292 19-Jul-16 1,052 6-Nov-06 535 668,345 97 7 9.7 8 Heritage View 5 969 22-Jul-16 1,208 25-May-06 545 642,000 122 8 10.2 9 Kilat Centre 21 1,249 19-Jul-16 913 3-Apr-07 400 640,000 128 9 9.3 10 Ten @ Suffolk 11 1,087 25-Jul-16 1,315 26-May-06 777 585,000 69 5 10.2 LANDED 1 Detached/Jalan Ampang 10 7,858 22-Jul-16 1,654 23-Dec-09 1,056 4,700,000 57 7 6.6 2 Detached/Mugliston Road 15 5,974 22-Jul-16 1,071 2-Dec-04 303 4,589,000 254 11 11.6 3 Detached/Charlton Road 19 5,920 26-Jul-16 844 7-Nov-01 304 3,200,000 178 7 14.7 4 Detached/Faber Drive 5 9,053 21-Jul-16 662 29-Nov-04 329 3,020,000 101 6 11.6 5 Terrace/Pebble Lane 15 3,025 21-Jul-16 1,040 30-May-03 429 1,850,000 142 7 13.2

PROJECT DISTRICT AREA (SQ FT) SOLD ON SALE PRICE ($ PSF) BOUGHT ON PURCHASE PRICE ($ PSF) LOSS ($) LOSS (%) ANNUALISED LOSS (%) HOLDING PERIOD (YEARS)1 Orchard Scotts 9 1,647 22-Jul-16 1,438 12-Aug-08 2,438 1,647,386 41 6 7.9 2 Marina Bay Suites 1 2,680 26-Jul-16 2,239 23-Dec-09 2,623 1,031,000 15 2 6.6 3 Semi-Detached/Jalan Emas Urai 23 3,800* 25-Jul-16 605 6-Dec-07 724 450,000 16 2 8.6 4 D’Pavilion 19 1,410 22-Jul-16 899 8-Dec-11 1,135 332,000 21 5 4.6 5 Semi-Detached/Tagore Avenue 26 3,165* 26-Jul-16 610 28-Jan-11 683 232,888 11 2 5.5 6 The Estuary 27 926 21-Jul-16 907 18-Jun-13 1,134 210,000 20 7 3.1 7 Semi-Detached/Jalan Lim Tai See 10 4,650* 22-Jul-16 667 11-Sep-08 706 181,000 6 1 7.9 8 Livia 18 1,259 22-Jul-16 746 28-Oct-11 889 180,000 16 4 4.7 9 The Clift 1 527 21-Jul-16 2,086 19-Dec-11 2,266 95,236 8 2 4.6 10 Melville Park 18 1,087 21-Jul-16 644 2-May-12 704 65,000 8 2 4.2

GAINS AND LOSSES

* Refers to strata area. Otherwise, area stated for landed homes refers to land area URA caveat record downloaded on July 29 and Aug 2

All the resale transactions at Orchard Scotts since 2H2014 have been unprofitable

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Seller incurs 40% loss at Orchard Scotts

EP14 • THEEDGE SINGAPORE | AUGUST 8, 2016

Freehold condo in District 11 sellingat $1,916 psf| BY METTA LEE |

A 1,044 sq ft, two-bedroom unit at The

Glyndebourne on Trevose Crescent

is listed on TheEdgeProperty.com at

$2 million or $1,916 psf. The unit is

understood to be tenanted at $3,700

per month until January 2017.

The last transaction for a similar-sized unit

in the project was in May 2014 when a 1,055

sq ft unit on a lower floor changed hands for

$2.5 million or $2,370 psf.

The Glyndebourne was launched in 2010

and two-bedroom units had found buyers at

an average price of $2,115 psf.

Completed in 2013, the 150-unit freehold

condominium is located next to Raffles Town

Club and is within 400m of the Stevens MRT

station of the Downtown Line. The develop-

ment is also situated within 1km of the Sin-

gapore Chinese Girls’ Primary School and the

National University of Singapore (Bukit Ti-

mah Campus) and 2km of the Anglo-Chinese

School (Primary). The Singapore Botanic Gar-

dens is less than 1km away.

For more information, call marketing agent

Albert Tan at 9674 2180.

Scan the QR code for

value deals at The

Glyndebourne on

Trevose Crescent

As TheEdgeProperty.com is not party to the con-

tract between the client and agent, it is unable

to verify information provided by the agent

URA,

THE

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OPE

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Recent transactions at The Glyndebourne

CONTRACT DATE AREA (SQ FT) PRICE ($) PRICE ($ PSF)

June 20, 2016 1,475 2,680,000 1,817May 7, 2015 1,679 3,650,000 2,174May 29, 2014 2,433 4,080,000 1,677May 12, 2014 1,055 2,500,000 2,370April 24, 2014 1,475 2,802,500 1,900March 24, 2014 2,669 4,828,200 1,809March 24, 2014 2,756 4,960,800 1,800

SAM

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The Glyndebourne is situated within 1km of Singapore Chinese Girls’ Primary School and 2km ofAnglo-Chinese School (Primary)

E

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visit http://subscribe.theedgesingapore.com/ Usual Retail$780 (3-Years)

TES740/LAWRY’S