Device at The Summit @ Cairnhill I people paid $2, 617 psf

There has been several financial transactions in the Cairnhill area in the full week of November 1 to eight, according to the hottest caveats downloaded from URA Realis. With the Peak snabel-a Cairnhill I just, two two-bedroom units of 678 sq ft every single were purchased. The one relating to the fifth carpet was sold for $1. 72 million ($2, 538 psf), while the one particular on the ninth floor chose $1. 79 million ($2, 617 psf). Both offers were carried out on Nov 3.

The Peak @ Cairnhill I is known as a 52-unit freehold condominium produced by TG Expansion and TEE Development with each other. The task was completed in 2014 and was about 65% sold seeing that at Nov 8, regarding to caveats lodged with URA Realis.

The next project, known as The Peak @ Cairnhill II, is produced by TG Expansion and TEE Development likewise. Completed a year ago, the 60-unit freehold block out is slated for establish in 1Q2017.

Two flats at the Optimum @ Cairnhill I were sold simply by TG Expansion and TEE Development lately

In the neighborhood of Cairnhill Bideford and Road Street is the soon-to-be-completed Cairnhill 9, which consists of a 30-storey non commercial tower formulated with 268 flats and a 20-storey tower system with 220 serviced flats branded The Ascott Singapore. The task is produced by CapitaLand.

Slated to be finished at year-end, the task was launched in March. Seeing that at end-October, 217 items, or 81% of the task, were marketed. Despite the 99-year lease contract, Cairnhill 9 is popular because of the cost to do business bridge connecting the task to Paragon shopping center across the occupied Bideford Street, and its area just from the prime Orchard Road searching strip likewise.

The two newest transactions in Cairnhill 9 involved items on the 19th floor. A ONE, 044 sq ft, two-bedroom unit fetched $2. fifth 89 million ($2, 764 psf) while a one, 033 sq ft device was sold for $2. 82 million ($2, 731 psf).

This complete year, programmers of extravagance condos came up with creative deferred payment schemes to attract buyers. OUE Twin Peaks started the trend, and now there are variations to the stay-then-pay scheme popularised by CapitaLand for the remaining units at d’Leedon and Interlace projects.

At Cairnhill Circle, Hilltops, a 241-unit luxury condo completed in 2011 by SC Global, launched an “enhanced payment scheme” for 30 units owned and leased out by the developer at end-July.

Under this scheme, buyers make an upfront payment equivalent to 20% of the unit’s purchase price. They are then given a two-year choice to purchase the device at a set price. Meanwhile, the customers will receive a return of 10% in the down payment, supported by tenancies supervised by SOUTH CAROLINA Global.

In September The most up-to-date transaction for Hilltops was, when a you, 711 sq ft, three-bedroom unit was sold for $5. 27 mil ($3, 078 psf). It had been the biggest and eighth device sold in the condo because the scheme premiered four several weeks ago. Almost all of the other ventures involved two-bedroom units bought at prices starting from $2. 56 million ($3, 084 psf) for a great 829 sq ft device to $3. 86 mil ($3, 091 psf) for the 1, 249 sq feet unit.