| BY CHERYL CHEAH|THEEDGE SINGAPORE | JULY 23, 2012
The Trillium by Lippo Group is seeing strong interest from Chinese investors
A 1,076 sq ft, two-bedroom loft unit on the 32nd floor of the 43-storey The Clift sold for close to $2.87 million ($2,662 psf)
Condominiums located in the vicinity of the Singapore River continue to draw homebuyers, especially in the neighbourhood of Kim Seng Road. The 236-unit The Trillium saw a 2,390 sq ft, five-bedroom unit on the 16th floor transacted at $6.12 million, or $2,561 psf, last month, according to caveats lodged with URA Realis. This is the highest psf price transacted in the development to date. The seller had purchased the unit for $4.66 million ($1,951 psf) in June 2007 when the project was launched, therefore recognising a price appreciation of 31.3% over the last five years.
The project by Lippo Group first previewed in early 2007 and the average price then was $1,700 psf. The freehold luxury property contains a mix of apartments from two-bedroom units starting from 1,400 sq ft to five-bedroom apartments of up to 2,440 sq ft. Penthouses are sized at around 5,000 sq ft.
The Trillium is popular with Indonesians and Chinese investors, given its proximity to Great World City mall located across the street. It’s also a short driving distance from the CBD, Orchard Road and Marina Bay. The future Kim Seng MRT station on the Thomson Line, which will open in 2018, is expected to be located near Great World
City, and therefore within walking distance to The Trillium, says Chris Ho, a marketing director with Era Realty.
According to Ho, most of the apartments at the three 29-storey towers of The Trillium enjoy 270º views of the CBD skyline and Singapore River. “Most buyers are smitten once they see the view, which can be breathtaking, especially in the evenings,” he says.
Ho is marketing a four-bedroom, 2,218 sq ft unit at The Trillium, which is listed with an asking price of $4.88 million ($2,200 psf). A four-bedroom unit at The Trillium can fetch rental rates of up to $13,000 a month, which, based on current prices, work out to about 3.2% in gross rental yield, he estimates. Most of those shopping for units at The Trillium these days are investors, he observes. “There has been an increase in demand at The Trillium over the past few months,” he adds. “Buyers are prepared to pay a premium as demand so far outweighs the number of units available for sale on the secondary market.”
Next door to The Trillium is the 36-storey, 97- unit Centennia Suites, also by Lippo and is fully sold. The project is set for completion sometime next year.
A unit on the 14th level of the 175-unit freehold Tribeca along Kim Seng
Road was sold recently for $1.18 million ($2,068 psf)
Next door to Centennia Suites is City Developments Ltd (CDL)’s 175-unit Tribeca. Most recently, a unit on the 14th level was sold for $1.18 million ($2,068 psf). This was the third time the unit has changed hands so far. The original owner paid $730,140 ($1,280psf) for the apartment in December 2006 and sold it four years later for $969,000 ($1,699 psf), making a 32.7% gain. The subsequent buyer enjoyed a 21.7% profit when he sold the unit for $2,068 psf on May 28. While the transacted price does not mark a new high, Ho points out that asking prices are now near the record price of $2,361 psf achieved last April. Completed in early 2010, Tribeca has a mix of unit sizes starting from one-bedroom apartments of 517 sq ft to four + onebedroom apartments of 1,905 sq ft.
Meanwhile, there were two recent transactions at Wheelock Properties’ 228-unit The Cosmopolitan . One was for a 1,324 sq ft, three-bedroom apartment on the 25th floor for $2.76 million ($2,085 psf), while the other was a 1,141 sq ft, two-bedroom unit on the 31st floor that changed hands for $2.38 million ($2,086 psf). The unit on the 31st floor was purchased in late-2006 for over $1.525 million ($1,337 psf), hence the seller enjoyed a 56% capital appreciation in over five years. Completed in 2008, the freehold development was launched in early 2005, with prices at the time hovering in the $1,000 to $1,100 psf range.
The highest price psf achieved in The Cosmopolitan was in November 2007 at the peak of the market when a 36th floor, 1,679 sq ft, four-bedroom unit was sold for just under $4 million or $2,380 psf.
On the other side of the Singapore River in the Robertson Quay area is the 302-unit Martin Place Residences by Frasers Centrepoint. The fully sold development was completed just last September. The most recent transaction in the project was the resale of a 1,722 sq ft, three-bedroom+study unit on the 10th level, which changed hands for $3.45 million ($2,003 psf). The seller had paid around $2.42 million ($1,407 psf) for the unit in June 2009, hence recognising a 42.4% price gain in just three years.
Across the road from Martin Place Residences is CDL’s UP@Robertson Quay, a 70-unit boutique luxury condo with loft units, that previewed last month. The development is part of a mixed-use project that includes a 300-suite hotel. The developer had previewed 20 units to date, of which 15 have been sold at a median price of $2,228 psf as at end-June, according to URA’s data.
The Trillium by Lippo Group is seeing strong interest from Chinese investors
A 1,076 sq ft, two-bedroom loft unit on the 32nd floor of the 43-storey The Clift sold for close to $2.87 million ($2,662 psf)
Condominiums located in the vicinity of the Singapore River continue to draw homebuyers, especially in the neighbourhood of Kim Seng Road. The 236-unit The Trillium saw a 2,390 sq ft, five-bedroom unit on the 16th floor transacted at $6.12 million, or $2,561 psf, last month, according to caveats lodged with URA Realis. This is the highest psf price transacted in the development to date. The seller had purchased the unit for $4.66 million ($1,951 psf) in June 2007 when the project was launched, therefore recognising a price appreciation of 31.3% over the last five years.
The project by Lippo Group first previewed in early 2007 and the average price then was $1,700 psf. The freehold luxury property contains a mix of apartments from two-bedroom units starting from 1,400 sq ft to five-bedroom apartments of up to 2,440 sq ft. Penthouses are sized at around 5,000 sq ft.
The Trillium is popular with Indonesians and Chinese investors, given its proximity to Great World City mall located across the street. It’s also a short driving distance from the CBD, Orchard Road and Marina Bay. The future Kim Seng MRT station on the Thomson Line, which will open in 2018, is expected to be located near Great World
City, and therefore within walking distance to The Trillium, says Chris Ho, a marketing director with Era Realty.
According to Ho, most of the apartments at the three 29-storey towers of The Trillium enjoy 270º views of the CBD skyline and Singapore River. “Most buyers are smitten once they see the view, which can be breathtaking, especially in the evenings,” he says.
Ho is marketing a four-bedroom, 2,218 sq ft unit at The Trillium, which is listed with an asking price of $4.88 million ($2,200 psf). A four-bedroom unit at The Trillium can fetch rental rates of up to $13,000 a month, which, based on current prices, work out to about 3.2% in gross rental yield, he estimates. Most of those shopping for units at The Trillium these days are investors, he observes. “There has been an increase in demand at The Trillium over the past few months,” he adds. “Buyers are prepared to pay a premium as demand so far outweighs the number of units available for sale on the secondary market.”
Next door to The Trillium is the 36-storey, 97- unit Centennia Suites, also by Lippo and is fully sold. The project is set for completion sometime next year.
A unit on the 14th level of the 175-unit freehold Tribeca along Kim Seng
Road was sold recently for $1.18 million ($2,068 psf)
Next door to Centennia Suites is City Developments Ltd (CDL)’s 175-unit Tribeca. Most recently, a unit on the 14th level was sold for $1.18 million ($2,068 psf). This was the third time the unit has changed hands so far. The original owner paid $730,140 ($1,280psf) for the apartment in December 2006 and sold it four years later for $969,000 ($1,699 psf), making a 32.7% gain. The subsequent buyer enjoyed a 21.7% profit when he sold the unit for $2,068 psf on May 28. While the transacted price does not mark a new high, Ho points out that asking prices are now near the record price of $2,361 psf achieved last April. Completed in early 2010, Tribeca has a mix of unit sizes starting from one-bedroom apartments of 517 sq ft to four + onebedroom apartments of 1,905 sq ft.
Meanwhile, there were two recent transactions at Wheelock Properties’ 228-unit The Cosmopolitan . One was for a 1,324 sq ft, three-bedroom apartment on the 25th floor for $2.76 million ($2,085 psf), while the other was a 1,141 sq ft, two-bedroom unit on the 31st floor that changed hands for $2.38 million ($2,086 psf). The unit on the 31st floor was purchased in late-2006 for over $1.525 million ($1,337 psf), hence the seller enjoyed a 56% capital appreciation in over five years. Completed in 2008, the freehold development was launched in early 2005, with prices at the time hovering in the $1,000 to $1,100 psf range.
The highest price psf achieved in The Cosmopolitan was in November 2007 at the peak of the market when a 36th floor, 1,679 sq ft, four-bedroom unit was sold for just under $4 million or $2,380 psf.
On the other side of the Singapore River in the Robertson Quay area is the 302-unit Martin Place Residences by Frasers Centrepoint. The fully sold development was completed just last September. The most recent transaction in the project was the resale of a 1,722 sq ft, three-bedroom+study unit on the 10th level, which changed hands for $3.45 million ($2,003 psf). The seller had paid around $2.42 million ($1,407 psf) for the unit in June 2009, hence recognising a 42.4% price gain in just three years.
Across the road from Martin Place Residences is CDL’s UP@Robertson Quay, a 70-unit boutique luxury condo with loft units, that previewed last month. The development is part of a mixed-use project that includes a 300-suite hotel. The developer had previewed 20 units to date, of which 15 have been sold at a median price of $2,228 psf as at end-June, according to URA’s data.
