Penthouse at Boulevard 88 sold at a high of $4,936 psf

In the week of May 14 to 21, there were three transactions at luxury projects in prime District 10 where prices crossed $4,000 psf. The biggest unit sold was a 5,673 sq ft penthouse at Boulevard 88, which fetched $28 million or $4,936 psf.
Luxury project, Boulevard 88, where 48 units have been sold to date at average prices above $3,700 psf (Credit: City Developments Ltd)
The penthouse’s price is the highest in psf terms achieved at Boulevard 88, a brand new ultra-luxurious condo with 154 units in twin 28-storey towers. The project is an integrated development that includes a hotel tower with 208 suites branded EDITION conceived by US developer Ian Schrager and Marriott International. Designed by renowned architect Moshe Safdie, the project is a joint venture by Hong Leong Holdings, City Developments Ltd (CDL) and Lea Investments.
The 5,673 sq ft penthouse is one of four within the development. Two other penthouses have been sold: a 5,683 sq ft unit went for $28 million ($4,927 psf) in March; and a bigger penthouse of 6,028 sq ft fetched $29.53 million ($4,899 psf) in April.
The latest penthouse and the one that went for $29.53 million in April were both brokered by PropNex Realty. Both buyers were said to be Chinese nationals.
“The buyers of such big-ticket items are generally foreigners,” says Dominic Lee, PropNex head of luxury team. “At such prices, most Singaporeans would opt to buy a Good Class Bungalow.”
To date, 48 units at Boulevard 88 have been sold at average selling prices above $3,700 psf, according to a CDL spokesperson. These include the three penthouses that have fetched prices of $28 million and above. To date, 23 of the 50 four-bedroom units that are sized from 2,766 to 2,799 sq ft, have been sold at prices above $10 million each.
“The steady demand for luxury properties suggests that Singapore remains a top choice for high-end foreign and local buyers,” says the CDL spokesperson. “The medium to long-term prospects for Singapore’s luxury property market are good, and prices are expected to stay resilient.”
The latest sale at Boulevard Vue was a 4,478 sq ft, four-bedroom unit on the 28th floor that fetched $22 million ($4,913 psf), which means only one unit, the 11,000 sq ft penthouse, is still available (Credit: Samuel Isaac Chua/EdgeProp Singapore)