Dual-key penthouse at North Park Residences selling for $1.6 mil

SINGAPORE (EDGEPROP) - A dual-key penthouse unit at North Park Residences is on the market with a guide price of $1.6 million. The price for the 764 sq ft, two-bedroom unit translates to $2,094 psf on the floor area. An owner’s sale, the property will be put up for auction by Knight Frank on July 28.

Read also: Dual-key units: An alternative method to owning a second property

Located along Yishun Central 1 in District 27, North Park Residences is a 99-year leasehold development that was completed in 2018. The condominium comprises twelve 13-storey residential blocks, and the unit mix varies from studios to five-bedroom units that range from 431 sq ft to 1,507 sq ft.

Typical of a dual-key unit, the property on sale features separate entrances for the en suite studio and the rest of the apartment. The one-bedroom portion of the unit comes with a kitchenette and a dining room which leads into the living room. The en suite master bedroom is connected to a balcony which is also linked to the living room. The unit features a 4.5m ceiling.

According to URA caveats, the most expensive penthouse unit at North Park Residences is a 1,507 sq ft, five-bedroom unit sold for $1.93 million ($1,281 psf) on July 22, 2020. This record was closely followed by the sale of a 1,270 sq ft, four-bedroom apartment that changed hands for $1.9 million ($1,496 psf) on May 3, 2021.

So far this year, only one 915 sq ft, two-bedroom penthouse unit was sold for $1.36 million ($1,486 psf) on June 24.

Based on rental data compiled by EdgeProp Singapore, rental units at North Park Residences have performed well for the past three years. In 1Q2019, the median rental at the condominium was $3.74 psf per month (pm), and as at 2Q2022, the median rent is $4.59 psf pm.

The 920-unit development is the residential component of North Point City, a suburban integrated development in Yishun by Frasers Property. The project is one of the largest integrated suburban developments in Singapore and comprises a public transport hub, two retail wings, a community centre and a public library.

North Park Residences is an award-winning development. It clinched the World Gold Winner honours under the Residential Mid Rise category at this year’s FIABCI World Prix d ’Excellence Awards. The international award recognises developments that embody excellence in all real estate disciplines. The development also won the Mixed-Use Development Excellence Award at the 2020 EdgeProp Excellence Awards.

In addition to the amenities, condominium facilities and public services that can be found in North Point City, the integrated development is also close to most of the major neighbourhood facilities in Yishun. Khoo Teck Puat Hospital and Yishun Community Hospital are both less than 500m from the development, while other nearby facilities include Yishun Pond Park, Yishun Town Garden, Yishun Park and Yishun Swimming Complex.

The area is also served by Yishun MRT Station on the North-South Line, as well as the bus terminal within North Point City.

Many primary schools are in the vicinity as Yishun is a mature HDB town with close to 200,000 residents. The property on auction will appeal to families with school-going children because it is near Northland Primary School, Jiemin Primary School, Huamin Primary School and Yishun Primary School. (Find HDB flats for rent or sale with our Singapore HDB directory)