Highline Residences: 80% of the 160 units released sold!

Keppel Land, which started closed-door sales of its Highline Residences condominium over the weekend, said it has received a good response to the project.

More than 80% of the 160 units – or over a quarter of 500 units available in total – released were sold at an average price of $1,900psf after discount. Discounts ranging from $28,000 to $68,000 were offered during the preview weekend.

The price was in line with earlier expectations by market watchers of between $1,800 and $1,900psf.

The positive response may be attributed to the pent-up demand for private housing in Tiong Bahru, which has not seen a launch in the past seven years.

Sales at the condominium is widely watched given its prime location diagonally opposite Tiong Bahru MRT Station and Tiong Bahru Plazamall.

Highline Residences’ 500 units are housed in two 36-storey towers, a 22-tower tower and four low-rise blocks. Its unit sizes range from 506sqft for one-bedders to 1,227sqft for four-bedroom dual key units. It will also have six penthouses, ranging from 2,174sqft to 2,260sqft in size.

The design of the condominium is inspired by New York City’s High Line, a public park built on a historic elevated rail line.

Residents may tap concierge services such as limousines and housekeeping, in addition to enjoying complimentary golfing at Keppel Land’s Ria Bintang Golf Club.

Info source: BT

Okay, so the wife and I were wrong on the “hard sell at $1,900psf” bit. Kudos to Highline Residences and Keppel Land. And it just goes to show how much liquidity is still out there in the market.

But is it a good buy at $1,900psf? The judgement is still out on this one…
 

 

 

Renewed interests in pre-war flats at Tiong Bahru…

A wave of transformation is sweeping through the once-sleepy Tiong Bahru estate.

Thanks to a new breed of indie retail shops and coffee houses, the 20 blocks of pre-war conserved flats have attracted renewed interest from home buyers and this has pushed up home prices in the area by about 50% over the last two years.

Located near Tiong Bahru Market and Food Centre, the area bounded by Seng Poh, Outram and Tiong Poh Roads was once an old estate.

The 20 blocks of pre-war flats were built in the 1930s and awarded conservation status in 2003.

In the past year, the estate has been gaining attention for the rising number of independent shops and coffee houses that has sunk roots there.

One of the shops specialising in Bhutanese art and home decor opened for business in March this year.

Tan Tiong Pin, owner of Bhutan Shop, said: “This was still considered an old estate two years ago. Many elderly folks lived here. But with new condominiums built, many expatriates and yuppies now live here.”

A couple who moved into one of the Tiong Bahru pre-war apartments nine years ago fell in love with the estate.

Three months ago, they opened a shop selling curios and vintage items, which are attracting tourists and residents from other estates.

Terence Yeung, owner of Flea & Trees, said: “There’s a charm in this space. When people come to this area, they find it’s like an oasis in a big city, right next to the heart of the city and that’s very charming.”

With new life breathed into Tiong Bahru, prices of the pre-war flats have also gone up.

Property agents say conserved flats in Singapore are rare.

With the attractive amenities and shops in Tiong Bahru, agents say prices for the pre-war flats have jumped.
A 1,000sqft pre-war flat, for example, is now going for close to a million Singapore dollars.

Source: Channel News Asia

Would you pay a million bucks for a 1,000sqft “walk-up” with about 55 years left on its 99-year lease? 

Click below to access the URA web-page on the Tiong Bahru Conservation Area:
http://www.ura.gov.sg/conservation/tbahru.htm

Click below to access an informative blog-site that is dedicated to the Tiong Bahru Estate:
http://tiongbahruestate.blogspot.com/
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