Someone has paid more than James Dyson to buy a penthouse in Singapore, making it the most expensive in Singapore. According to Business Times, a penthouse unit at Les Maisons Nassim was sold for S$75 million in late October.
At the quantum price of S$75 million, this has beaten the S$73.8 million reportedly paid by James Dyson for the super penthouse at Wallich Residence in 2019. (James Dyson later sold it in 2020 at an S$11.8 million loss to Leo KoGuan, the third-largest individual shareholder of Tesla.)
The Business Times quoted List Sotheby’s International Realty executive director Lewis Cha that this transaction may have set the record for being the most expensive penthouse ever sold in Singapore, based on known transactions in the past two decades.
Spanning around 12,077 sq ft, this translates to S$6,210 psf. A quick search on our portal found the unit had been listed as a five-bedder with an asking price of S$80 million. In terms of price psf, it’s beaten the S$5,930 psf set by a S$39 million unit sold in the same luxury condo in early May.
On the other hand, the current record for the highest price psf may still be held by a 3,089 unit from The Marq on Paterson Hill, sold back in 2011. According to caveats lodged, the unit was sold for around S$20.5 million, or S$6,650 psf.
Looking at the transactions over the past 10 years in District 2 (where Wallich Residence is), District 9 (where The Marq on Paterson Hill is) and District 10 (where Les Maisons Nassim is), condos in District 9 have generally fetched a higher average price psf.
On the other hand, condos in District 10 have experienced the highest price appreciation of 31.67% over the last 10 years, compared to the 29.32% in District 2 and 1.82% in District 9.
What do you think of this S$75 million transaction for a penthouse? Let us know in the comments section below or on our Facebook post.
If you found this article helpful, 99.co recommends 5 things every on-the-fence homebuyer must do if new cooling measures are suddenly announced and Freehold residential tower High Point up for public tender.
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Whether your HDB apartment is reaching the end of its Minimum Occupation Period (MOP) or your condo has crossed its Seller Stamp Duty (SSD) window, it is always good to know how much you can potentially gain if you were to list and sell your property. Not only that, you’ll also need to know whether your gains would allow you to right-size to the dream home in the neighbourhood you and your family have been eyeing.
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