Category Archives: Property Price

Five Regent Court units sold for more than $650 psf

Posted on 22 Oct 2009 | Comments Off on Five Regent Court units sold for more than $650 psf

Regent Court is a 49-unit condominium located along Serangoon Road, near the Boon Keng MRT station

PDF Version Property transactions with contract dates from Sept 18 to Sep 25

There was a flurry of transactions at the 25-year-old Regent Court recently. The 49-unit freehold condominium failed to sell en bloc for $34 million, or $528 psf, after it surfaced last December that the stamp duty for the en-bloc sale agreement in 2007 had not been paid by Regent Development, a nominee of Landquest Pte Ltd. Earlier, some owners also opposed the deal as they claimed that the sales proceeds could not cover their purchase price.

As it turns out, the failed en-bloc deal has enabled owners to ride on the recent rise in property prices. In particular, Regent Court has benefited from the strong take-up rate of new mass-market projects like Airstream @ St Michael’s Road. Property buyers who had come to view Airstream’s showflat would have driven past Regent Court, which is located along Serangoon Road, the main road leading to St Michael’s Road. In August, all 70 units at Airstream, which is developed by Millennium Homes, were sold within day, via balloting at an average price of $1,100 psf. Nearby, developments such as St Michael Regency, One St Michael’s and yet-to-be-completed Beacon Heights have been sold for an average of $800 psf this year, although latest sales saw some units breach $900 psf. Continue reading →

Comments Off on Five Regent Court units sold for more than $650 psf

Posted in En-bloc / Collective Sales, Property Price

Tagged , , , , , ,

Lincoln Suites launched at average $1,680 psf

Posted on 21 Oct 2009 | Comments Off on Lincoln Suites launched at average $1,680 psf

THE four property developers who jointly bought freehold Lincoln Lodge more than two years ago in a collective sale intend to launch the project tomorrow, they said yesterday.

The developers – Koh Brothers, Heeton Holdings, KSH Holdings and Lian Beng Group – paid $243 million for the District 11 property along Khiang Guan Avenue at the height of the property boom in June 2007. But they put off launching the project as the property market went south soon after.

Now, with the market seemingly staging a recovery, the 175-unit Lincoln Suites will be rolled out, beginning with invited guests tomorrow. The first phase of the launch will see 56 units offered at an average price of $1,680 per square foot (psf).

The consortium paid significantly more than the reserve price of $188 million for the project in 2007 as it was ‘very interested’ in the site. There were several bids for the site.

It was then estimated that the $243 million forked out worked out to $1,449 psf per plot ratio (ppr) including an estimated development charge (DC) of $413,000. Continue reading →

Comments Off on Lincoln Suites launched at average $1,680 psf

Posted in Developers, New Launches, Property Price

Tagged , , , , , , , ,