LOCATION SCAN: Residential site at Alexandra View up for sale

By Tan Chee Yuen / The Edge Property | October 1, 2015 6:04 PM SGT
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A residential site at Alexandra View, next to Redhill MRT station, has been launched for sale via tender by the URA. The 90,417 sq ft 99-year leasehold site has a maximum gross floor area of 442,967 sq ft and could yield 400 units. It is zoned for residential with 1st storey commercial use. The plot is within 500m from Sri Manasseh International School, Gan Eng Seng Primary School and Crescent Girls’ School.
Alexandra View site

Source: URA

What’s available nearby?
As an overview, there are seven private non-landed projects within 500m radius of the residential plot with recent transactions. The highest transacted price over the past six months was for a 3,229 sq ft unit at 99-year leasehold project The Metropolitan Condominium which sold for $3.33M ($1,030 psf). On the other hand, the most affordable transaction was for a 700 sq ft unit at 99-year leasehold project Tanglin Regency which fetched $1.03M ($1,465 psf). Gross rental yield lies between 3.5% and 4.1%.
Upcoming launch in the vicinity include Principal Garden condominium developed by UOL Group Limited, which will offer 663 residential units.
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Chart 1: Prices of private non-landed projects within 500m radius of Alexandra View site

Source: URA, Edge Property

Chart 2: Rental comparison of private non-landed projects within 500m radius of Alexandra View site

Source: URA, Edge Property

In the public housing segment, 3-, 4- and 5-room HDB flats within 500m radius of the residential plot at Alexandra View were transacted at an average price of $383,250, $701,813 and $833,625 respectively over the past six months.
Chart 3: Price statistics of HDB flats within 500m radius of Alexandra View site

Source: HDB, The Edge Property

Chart 4: Rental statistics of HDB flats within 500m radius of Alexandra View site
Source: HDB, The Edge Property
What’s recently transacted?
In September, there were nine private non-landed home transactions. Two were from Alex Residences — a 883 sq ft unit which was sold for $1.52M ($1,707 psf) and a 1,731 sq ft unit which fetched at $1.83M ($1,731 psf). Another 1,109 sq ft unit in Tanglin Regency changed hands at $1.58M ($1,425 psf). The rest of the transactions were from The Crest, which transacted at a price range between $1,682 psf and $1,730 psf.
Table below only shows the 10 latest transactions, which are generated through our professional analytic tool on theedgeproperty.com. The tool is available for registered users. To find out more or to register, please write in to propertyeditor.sg@bizedge.com
Latest transactions of private non-landed projects within 500m radius of residential site at Alexandra View
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Source: URA, Edge Property


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