Amaryllis Ville, Residences at Evelyn most actively transacted in Newton area
By Timothy Tay
/ EdgeProp |
Update: 10 Evelyn will now preview on Sept 29, instead of Sept 22 and 23 as previously mentioned.
In the neighbourhood of Newton Road in prime District 11, the condominiums that saw the most transactions from June to August were Amaryllis Ville, Residences at Evelyn and 26 Newton.
At Residences at Evelyn, a highend freehold condo by City Developments Ltd, five units changed hands at prices ranging from $1,787 to $2,034 psf. The units were a mix of two-bedroom units of 1,033 sq ft to four-bedroom units of 2,250 sq ft, and were sold at prices ranging from $1.95 million ($1,887 psf) to $4.2 million ($1,867 psf), according to caveats lodged with URA Realis. The highest psf price was achieved by the seller of a 1,528 sq ft, three-bedroom unit on the 29th floor, who sold it for $3.1 million ($2,034 psf) in July.
Completed in 2007, Residences at Evelyn is a 208-unit project with twin 33-storey towers.
The Newton Road area will see a fresh supply of new homes from private land sales and government tenders (Pictures Samuel Issac Chua/The Edge Singapore)
Nearby, 10 Evelyn, a 56-unit boutique development by Amara Holdings, is expected to hold its preview over the weekend of Sept 29. “The Newton Road area is popular with homebuyers because of its proximity to schools such as Anglo-Chinese School (Primary & Junior) and St. Joseph's Institution Junior, but there are not many opportunities to purchase new homes in the area,” says Adrian Chay, associate assistant sales director at Knight Frank, the marketing agency for 10 Evelyn.
The indicative price for 10 Evelyn is said to be $2,600 to $2,700 psf.
Meanwhile, on Newton Road, the project that was most recently completed is 26 Newton, a 180-unit freehold condo by Novelty Group. The project was completed in April last year and so far, close to 80% of the units have been sold.
All the one- and two-bedroom units in the project are sold. The remaining units are mainly two-bedroomplus-study units of 775 sq ft, which range from $1.979 million for units on the sixth floor to $2.117 million for a 24th-floor unit. The project comprises a single tower block of 26 floors.
According to caveats lodged, the most recent transaction at 26 Newton was that of a 775 sq ft unit on the 16th floor, which was sold for $2.06 million ($2,658 psf) on Aug 29. In July, three similar-size units were sold for $1.96 million ($2,528 psf) to $2.09 million ($2,697 psf). A 1,173 sq ft, two-bedroom unit on the fifth floor fetched close to $2.35 million ($2,000 psf) in July.
The most recent transaction at 10 Evelyn was that of a 775 sq ft unit on the 16th floor, which was sold for $2.06 million ($2,658 psf)
Of interest is the upcoming launch of a government land site in Kampong Java for tender next month. The 124,861 sq ft, 99-year leasehold site has a plot ratio of 2.8 and could yield up to 435 units. “Usually, after a GLS site is awarded, the surrounding properties will enjoy a price uplift,” says Lester Tan, senior associate executive director of OrangeTee.
Another upcoming launch in the Newton area is Tee Land’s 35 Gilstead, a redevelopment of the former Casa Contendere, which it acquired en bloc last November for $72 million ($1,638 psf per plot ratio). The new freehold development will have 70 units across three 5-storey blocks. It could be launched later this year.
Amaryllis Ville has seen at least 10 units change hands over the past three months. The 311-unit, high-end condo was developed by Wing Tai Holdings, which also developed the neighbouring boutique development Newton 18, which comprises just 81 units. Both Amaryllis Ville and Newton 18 were completed in 2004. Newton 18 is freehold, while Amaryllis Ville has a 99-year lease from 1997.
Units at Amaryllis Ville have been changing hands at prices ranging from $1,568 to $1,737 psf, according to caveats lodged with URA Realis. The latest transactions were for a 1,238 sq ft, three-bedroom unit on the ninth floor that fetched $1.96 million ($1,583 psf) and a 958 sq ft, two-bedroom unit on the 10th floor that was sold for $1.53 million ($1,597 psf). Caveats for both properties were lodged on Aug 27.
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