Mortgagee sale of three-bedder at The Pearl @ Mount Faber going for $2.2 million
The unit overlooks the condo’s swimming pool, offering scenic views of the sea and the greenery of Mount Faber (Photo: SRI)
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A three-bedroom unit at The Pearl @ Mount Faber, a 99-year leasehold development, will be on the block at SRI’s upcoming property auction on Sept 24. A mortgagee sale, the 1,389 sq ft unit will be offered with vacant possession at a guide price of $2.2 million ($1,584 psf).
This is the second time the property will be featured at SRI’s auction. The same unit was previously put under the hammer at a higher guide price of $2.25 million on Aug 20. However, it received no bids and was subsequently withdrawn.
The guide price for the 1,389 sq ft unit translates to around $1,584 psf. (Photo: SRI)
Since then, the property has received “strong interest” from several potential buyers, says Eric Liew, manager of auction and sales at SRI. “Many are waiting to sell their current homes first,” he adds.
Located on the ninth floor, the unit comprises a combined living and dining room opening onto a balcony, an en suite master bedroom, two further bedrooms, and a kitchen with a yard area. Liew adds that the unit overlooks the condo’s swimming pool, offering scenic views of the sea and the greenery of Mount Faber.
Based on URA caveats, the owner purchased the unit when the project was launched for about $871,000 ($627 psf) in July 2003.
the unit comprises an en suite master bedroom and two further bedrooms. (Photo: SRI)
Completed in 2005, The Pearl @ Mount Faber is a 192-unit condo located along Mount Faber Road in District 4. The development features 10-storey residential blocks, housing a mix of two- to four-bedroom units measuring 1,087 sq ft to 1,464 sq ft.
The development is a short drive from HarbourFront Centre, a mixed-use retail-and-office complex and VivoCity mall. It is also close to several schools, including CHIJ Kellock and Radin Mas Primary School, both located within a 1km radius of the condo.
As of Aug 26, a total of five units at The Pearl @ Mount Faber have changed hands so far this year. The latest transaction took place on Aug 11 when a 1,356 sq ft, three-bedroom unit transacted for $2.02 million ($1,489 psf).
Prior to that, a 1,163 sq ft two-bedder at the condo fetched $1.9 million ($1,630 psf) on July 28, while another two-bedroom unit measuring 1,087 sq ft changed hands for $1.73 million ($1,589 psf) on June 16.
Check out the latest listings for The Pearl @ Mount Faber properties
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