$60 million please: Chinese national forks out 8-figure sum for 4 condo units on Orchard Boulevard

Chinese national splashes $60million on four 3 Orchard By-The-Park units.
PHOTO: 3 Orchard By-The-Park

Owning a private property in Orchard is the epitome of luxurious living in Singapore.

A Chinese national went a step further when he purchased four units from 3 Orchard By-The-Park, all at one go, reported Chinese newspaper Lianhe Zaobao.

The units cost about $60 million in total and the price per square ft ranged from $3,600 to $3,700.

Lianhe Zaobao added that these four units are on the larger side, with three priced at about $12 million and the fourth unit costing more than $20 million.

The freehold development was completed in 2017 and houses only 77 exclusive residences within three 25-storey blocks.

The interior of a four-bedroom loft unit with a pool.
PHOTO: 3 Orchard By-The-Park

A spokesperson for property developer YTL Group told the newspaper that the deal was brokered by PropNex.

He added: "The buyer bought show units that the developer built. Basically, all the renovations and decorations are complete. After he buys the place, he can move in directly."

This sale of these condo units did not show up in a search on the Urban Redevelopment Authority's (URA) portal for private residential property transactions at the time of writing.

However, this could be because a caveat was not lodged. Caveats are not compulsory, although they are encouraged to safeguard buyers' interests.

According to Lianhe Zaobao, there are still at least 10 units from this project which have yet to be sold.

Should your pay bracket allow for purchase of an upscale private property (or if you're just feeling fancy), take a virtual tour of 3 Orchard By-The-Park.

In June 2022, another Chinese national paid big bucks for condominium units in a fancy part of town.

The Fujian-born buyer is said to have bought 20 units at CanningHill Piers, located along the Singapore River, for more than $85 million.

These astronomical costs still pale in comparison to a penthouse unit at Les Maisons Nassim which was sold for $75 million in late October 2021.

This transaction may have set the record for being the most expensive penthouse ever sold in Singapore, according to The Business Times.

ALSO READ: Wife of Fragrance Group's founder buys GCB for $65m - and it's not the couple's first

amierul@asiaone.com