A Singaporean businessman is said to have paid a benchmark price of over $4,080 per square foot, working out to over $17 million, for a 53rd level penthouse at The Orchard Residences earlier this week. This beats the previous record of $3,450 psf set in December last year for a penthouse at the Marina Bay Residences, which also has a 99-year leasehold tenure.
In the case of Orchard Residences, which will rise above Orchard MRT Station, the $4,000 psf mark has been crossed not just for the penthouse deal, but also for several other apartments on the upper floors.
About half of the 175 units in the condo, spread across low, mid and high floors, are being released under the initial phase, which is for sale by invitation.
The lowest price achieved in the condo is said to be close to $2,600 psf.
The developers seem to have screened potential buyers to give preference to genuine home buyers and investors rather than property speculators.
No comments:
Post a Comment