Still commanding premium prices

Still commanding premium prices

SINGAPORE - Owning a unit close to the Orchard Road shopping belt is the ultimate dream for many.

Hence, it is not surprising that buyers are prepared to pay premium prices for a unit in districts 9 and 10.

The areas covered under District 9 include Cairnhill, Killiney, Leonie Hill, Orchard and Oxley.

Based on page views on portal STProperty between June 3 and 9 (see table), boutique development Up@Robertson Quay heads the list of top five projects in District 9.

The 70-unit project, made up of one- and two-bedders, is also the priciest on the list, with an average asking price of $2,437 per sq ft (psf).

It is also the only 99-year leasehold project among the top five.

The nearby 545-unit Rivergate freehold project, offering two- and three-bedders, is in second spot. It has an average asking price of $2,255 psf.

Rounding up the list for District 9 are three other freehold projects: Watermark Robertson Quay, Sophia Residence and Residences @ Killiney.

The development of the 272-unit Sophia Residence was delayed earlier this year due to the financial woes of main contractor Poh Lian Construction.

Slightly further to the west is District 10, which includes areas such as Balmoral, Bukit Timah, Grange Road, River Valley, Tanglin Road and Holland Road.

Heading the list of top five projects in the district in terms of page views between June 3 and 9 is D'Leedon, a project located within walking distance of the Farrer Road MRT station.

The 99-year leasehold project offers 1,703 units ranging from one-bedders to penthouses. The mixed development also has 12 villas and eight retail shops. It has an average asking price of $1,607 psf for its one- to four-bedroom units.

The other District 10 projects on the list are freehold: The Tessarina, The Legend, The Trizon and Parvis.

With its proximity to Holland Village, the 248-unit Parvis, ranked fifth on the list, has the highest average asking price for its two-, three- and four-bedders at $2,062 psf.

The average transacted price for Parvis between last December and May this year was $1,959 psf, according to data from the Urban Redevelopment Authority. This was based on five or fewer transactions.

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