Investor attention turns to Newton

Recent transactions in the Newton Road neighbourhood show two emerging trends: Buyers are either targeting penthouses for their scarcity, or going for the compact one-bedroom and studio apartments.
One such transaction was a 3,315 sq ft duplex penthouse on the 29th storey of one of the 30- storey blocks at Park Infinia at Wee Nam. The owner of the four-bedroom penthouse sold it on Sept 22 for $4.5 million ($1,357 psf), having purchased it for $2.59 million ($781 psf) in August 2005. The 486-unit Park Infinia at Wee Nam was developed by Keppel and completed in 2008.
A 3,315 sq ft apartment on the 29th storey of the sevenyear-old Park Infinia at Wee Nam fetched $4.5 million ($1,357 psf) on Sept 22
Meanwhile, at L’Viv, word on the street is that three penthouses that measure 2,228 sq ft to 2,530 sq ft are currently “under negotiation” as a group of investors is interested in purchasing them in a club deal. The penthouses are fully furnished and should appeal to investors looking to lease them out and hold them for future capital appreciation, says a property observer.
The remaining units at the 147-unit L’Viv are one and two-bedroom apartments with sizes of 614 to 657 sq ft and 990 to 1,001 sq ft, respectively. These have been fully sold in the freehold project, developed by Wing Tai Holdings and completed just last year.
Across the road is another Wing Tai development, the 81-unit freehold Newton 18. A 614 sq ft unit on the 24th floor of the apartment was sold for $1.05 million ($1,711 psf) on Sept 23. The unit last changed hands in August 2007 for $990,000 ($1,614 psf). The project was completed in 2002.
Nearby is Lincoln Residences, developed by Sim Lian Group and completed in 2011. The 99-unit freehold condo has only one unit available for sale from the developer. It is a duplex penthouse of 2,497 sq ft that has been fully furnished. The unit is on the market for $4.3 million ($1,722 psf) and is being marketed by Emily Eng, head of residential project marketing at OrangeTee. Meanwhile, the 175-unit Lincoln Suites was completed sometime this year. The project is jointly developed by listed...