Three cluster houses at Eleven @ Holland sell for more than $1,050 psf
By Timothy Tay
/ EdgeProp Singapore |
The three semi-detached units were part of a portfolio of seven houses that were up for sale. (Picture: PropNex Realty)
SINGAPORE (EDGEPROP) - PropNex Realty has announced the sale of three cluster semi-detached houses at Eleven @ Holland via tender. The three units were sold for between $1,050 psf and $1,079 psf, and the prices range from approximately $3.91 million to $4.02 million. This exceeded the vendor's expectations” says Tracy Goh, head of Investment and collective sales at PropNex.
PropNex was appointed by the seller, Char Yong (Dabu) Association, Singapore, to market the properties, which comprised seven houses in Eleven @ Holland. The units consist of seven semi-detached houses of about 3,735 sq ft and are all three-storey plus attic and basement units, with five bedrooms and five bathrooms.
The sale of the houses was part of a tender that closed on June 12. PropNex says that the buyers of the three sold houses are locals. The properties were also completed in 2014 and had a 99-year leasehold. “There are other buyers who have expressed interest in purchasing the remaining four units, which will now be sold via private treaty sale,” says Goh.
Sales data and other relevant property analytics can be found on EdgeProp's Landlens tool. (Map: EdgeProp Sinagpore)
This transaction is on top of selling 48 other cluster semi-detached houses at Eleven @ Holland that PropNex recently closed. On June 8, the agency shared that it had collected 48 cheques from buyers to purchase the 48 properties, which had been put up for mortgagee sale. PropNex was appointed by Hong Leong Finance as the marketing agent.
According to Silas Tan, a PropNex Realty agent, who helped his client secure one of the 3,735 sq ft semi-detached that was sold as part of the 48 units, many interested buyers gravitated to this firesale due to the price. "District 10 holds an exclusive allure that many Singaporean buyers aspire. Moreover, the average psf price of a 99-year, semi-detached (cluster and non-cluster houses) in that district this year has already hit about $1,505 psf, and those that are younger than 10 years old average $2,430 psf".
His client managed to secure his property for $1,019 psf. Lee says that it was bought with an exisiting tenancy and the new owner intends to continue leasing the property as an investment. "While landed properties have generally lower rental yield (compared to other residential assets), our clients are enjoying an immediate 4.4% gross rental yield - a rarity that many non-landed properties struggle to achieve," says Tan.
Check out the latest listings near Eleven @ Holland
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