UNDER THE HAMMER: Duplex penthouse at D’Zire going for $1.28 mil

By
/ EdgeProp Singapore
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April 11, 2019 4:10 PM SGT
A 1,421 sq ft duplex penthouse at D’Zire in District 19 will be put up for its first auction on April 30, according to the auctioneer at Edmund Tie & Company (ET&Co). This is a mortgagee sale, with an opening price of $1.28 million ($900 psf).
D’Zire is a 999-year leasehold, boutique condo by Robeyfort Land, and was completed in 2014. Located at Robey Crescent, off Hougang Avenue 2, D’Zire has 47 units in a single five-storey block. There are nine penthouses in the condo. Other unit types range from 388 sq ft, one-bedroom units, to 1,604 sq ft, two-bedders.
The two-bedroom penthouse unit on the fifth floor up for auction will be sold with vacant possession. The owner purchased it for $1.36 million ($961 psf) from the developer in July 2013, according to caveats lodged in URA Realis.
The living and dining area is spacious and offers floor-to-ceiling windows (Credit: ET&Co)
For price trends, recent transactions, other project info, check out the D'Zire project details page
Joy Tan, head of auction and sales at ET&Co, says that units in 999-year leasehold developments like D’Zire are “not as readily available”. Based on caveats, D’Zire has only seen one resale transaction. It was for a 431 sq ft, one-bedroom unit on the second floor, which changed hands for $565,000 ($1,312 psf) in November 2017.
In the Hougang area, recently launched units at 99-year leasehold Riverfront Residences and The Florence Residences have been transacting at average prices of $1,314 psf and $1,439 psf respectively, as seen from caveats.
For the unit at D’Zire, Tan expects that the price point of $1.28 million will attract “healthy” interest, especially from potential buyers looking to stay in it.
The upper level of this duplex penthouse looks over the surrounding landed estate (Credit: ET&Co)
The living and dining area is located on the lower level of the duplex penthouse, which offers full, floor-to-ceiling windows. ET&Co’s Tan says the living and dining area...