Prices at Ritz-Carlton Residences hit $3,598 psf

By Tan Chee Yuen / The Edge Property | June 18, 2017 8:30 AM SGT
There were several significant transactions in the Cairnhill area over the week of May 30 to June 6. One was the sale of a junior penthouse at Ritz-Carlton Residences for $12.86 million ($3,598 psf). The 3,574 sq ft, four-bedroom unit is on the 34th floor of the 36-storey tower. It was the biggest transaction of the week in terms of absolute quantum and psf price.
Another unit at Ritz-Carlton Residences was also sold by developer KOP Properties. It was a 2,831 sq ft, three-bedroom unit on the seventh floor and it went for $9.12 million ($3,220 psf), according to a caveat lodged on May 30. So far, six units have been sold this year since the developer offered a deferred payment scheme to buyers. The other four units that were sold were also three-bedroom units of 2,831 sq ft each, and fetched prices ranging from $9.41 million ($3,325 psf) to $9.99 million ($3,528 psf). Completed in 2011, Ritz-Carlton Residences contains 56 apartments and two penthouses.
A junior penthouse at Ritz-Carlton Residences was sold for $12.86 million ($3,598 psf) over the week of May 30 to June 6
At CapitaLand’s high-end development Cairnhill Nine, a 1,044 sq ft, two-bedroom unit was sold for $2.82 million ($2,696 psf) on June 3. The 268-unit, 99-year leasehold condominium obtained its Temporary Occupation Permit last October. Cairnhill Nine was relaunched at end-February and 34 units had been sold as at June 3. Prices range from $2.47 million ($2,393 psf) to $2.9 million ($2,721 psf). All the units sold are two-bedroom and two-bedroom- plus-study units that start from 1,033 sq ft.
According to the latest URA developer sales data, 245 units, or 91% of the total units at Cairnhill Nine, were offloaded at a median price of $2,691 psf.
In the exclusive Cairnhill Circle enclave, a 1,173 sq ft, three-bedroom unit at Cairnhill Residences changed hands for $2.5 million ($2,131 psf) on June 2. In terms of psf price, it is the highest achieved in the development this year. Three other units were sold at prices ranging from $2.1 million ($1,805 psf) for a 1,163 sq ft, three-bedroom unit on the second floor to $2.28 million ($1,961 psf) for another 1,163 sq ft unit on...