Freehold condominiums in the Emerald Hill Road neighbourhood have seen some buying interest despite the property cooling measures introduced on July 5, which saw a hike in additional buyer’s stamp duty by five to 10 percentage points, and loan-to-value ratio cut by five percentage points.
At 111 Emerald Hill, a 2,497 sq ft, four-bedroom unit on the seventh floor was sold for $6.088 million ($2,438 psf), according to a caveat lodged on Aug 7. It was one of 16 units purchased in a bulk deal by a fund for a total of $75 million in 2015, which translated into an average price of $1,700 psf.
The 40-unit 111 Emerald Hill is adjacent to Chatsworth International School and just a short walk from Orchard Road (Credit: Samuel Isaac Chua/ The Edge Singapore)
111 Emerald Hill is a 40-unit boutique condo located in the Emerald Hill conservation area just off Orchard Road in prime District 9.
Completed in 2011, the project was developed by a fund under LaSalle Investment Management and LB Land.
At nearby boutique development 8 Hullet, five units have been sold since July 5. The oneand two-bedroom units fetched prices ranging from $1.76 million ($3,271 psf) to $2.58 million ($3,237 psf), according to caveats lodged from July 15 to Aug 8.
8 Hullet is a 44-unit freehold condo development by Patrick Kho, group managing director of real estate and investment enterprise Lian Huat Group, along with his consortium partners. The consortium bought the site through an en bloc deal for $38.2 million in 2016. The site had a 10-storey block with just 18 apartments then.
Since 8 Hullet was launched in March this year, 29 units have been sold, according to caveats lodged.