The hottest and most eye-catching word in the Real-Estate market in 2017, 2018 is undoubtedly “EN-BLOC”.
The Garden Residences draws over 3,000 visitors on preview weekend
By Timothy Tay / EdgeProp Singapore| May 20, 2018 11:39 PM SGT
he 613-unit The Garden Residences opened for preview on the weekend of May 19-20, and drew more than 3,000 visitors. The project located at Serangoon North View is jointly developed by Keppel Land and Wing Tai Asia. The development contains five 15-storey blocks sitting on a 99-year leasehold, 185,022 sq ft site. There’s a wide variety of unit configurations, ranging from one-bedroom-plus-study types of 517 sq ft to five-bedroom units of 1,539 to 1,981 sq ft.
The Garden Residences is located within the established Serangoon Garden estate which boasts a wide range of cafes, restaurants, the famous Chomp Chomp Food Centre and Serangoon Garden Market and Food Centre. It’s also near myVillage Shopping Mall and nex shopping mall.
The crowd at the sales gallery of The Garden Residences (Credit: Keppel Land/Wing Tai Asia)
Given the wide range of unit configurations, The Garden Residences has attracted those who grew up in Serangoon Gardens, retirees and older couples from nearby districts as well as en bloc beneficiaries in District 19 shopping for replacement homes, according to the developer.
Prices are said to start from $788,000 for one-bedroom units, one-bedroom-plus-study units from $898,000, two-bedroom units from $1.08 million, three-bedroom units from $1.38 million, four-bedroom-plus-study units from $1.928 million and premium five-bedroom units from $2.58 million. According to property agents, indicative prices are in the range of $1,676 psf to $1,824 psf. The project is expected to be launched on June 2.
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May 19, 2018 10:00 AM
Balmoral Gardens unit reaps $9.17 mil profit
On May 4, an international fund bought eight units at Balmoral Gardens for a total of $83 million (Credit: Samuel Isaac Chua/The Edge Singapore)
A 4,758 sq ft unit on the third floor of Balmoral Gardens posted the highest gain of $9.17 million (524%) for the week of May 1 to 8, according to URA caveats.
On May 4, the unit changed hands for $10.9 million ($2,295 psf). The seller purchased the unit in November 2002 for just $1.74 million ($368 psf). This translates into an annualised profit of 13% over a holding period of 15.4 years.
Second on the table of gains for the week is another unit at Balmoral Gardens. The 4,779 sq ft unit was sold for $10.8 million ($2,268 psf) on May 4. Having bought the unit in March 1996 for $5 million ($1,046 psf), the owner made a profit of $5.8 million (117%), or an annualised profit of 4% over a holding period of 22 years.