Kaeden Ong

Super penthouse in Singapore sold for over $16 million

Posted by Kaeden Ong on 11th October 2014 in Blog

A mega-penthouse measuring 10,710 sq ft at Goodwood Residence by GuocoLand was recently sold at an eye-popping price of $16.6 million, after being advertised on PropertyGuru.

This works out to a psf price of about $1,550 said the property agent with ERA who closed the deal in May this year, but declined to be named.

The five-bedroom apartment is located on the top floor and comes with posh features such as a private lift and rooftop swimming pool.

According to the agent, the purchase was made by a foreigner. Although not much is known about him, PropertyGuru understands that he’s middle-aged and currently working in Singapore.

Meanwhile, listing details on PropertyGuru show two other similarly sized penthouses in this condominium are up for sale at guide prices of $15.9 million and $18 million.

Apparently, Malaysian tycoon Quek Leng Chan of GuocoLand picked up the biggest penthouse in the 12-storey project for $18.8 million, stated media reports from 2010. His sister Guat Kim also purchased an apartment unit on the eighth floor for $6.03 million, and their brother Leng Hai bought another penthouse for more than $13.8 million.

Located along Bukit Timah Road in District 10, the 210-unit freehold condo was completed at the end of 2013. Facilities include a concierge service for all owners and a clubhouse with a kitchen designed by celebrity chef Justin Quek, who opened the Sky on 57 restaurant at Marina Bay Sands.

Spanning 2.5ha, the development also stands out for being one of the largest freehold sites in the area and is close to Orchard Road, the Tanglin and American clubs, and good schools.

Despite the heavily reported slowdown in Singapore’s luxury residential market, the ERA agent said there are still viewings and sales taking place in this segment.

“Regardless of the market sentiment, genuine buyers remain interested and go in with an advantage due to the lower prices,” she noted.

Flash estimates of the URA price index for Q3 2014 released this morning revealed that prices of non-landed properties in the Core Central Region (CCR), which includes District 10, fell 0.9 percent after decreasing 1.5 percent in the previous quarter.

Credits: Property Guru

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