UNDER THE HAMMER: Unit at Rosewood Suites for sale at $835,000
By Charlene Chin
/ EdgeProp Singapore |
A 1,001 sq ft, two-bedroom unit at Rosewood Suites was put up for auction on June 26 for the first time by Edmund Tie and Co (ET&Co). This was a mortgagee sale with a guide price of $835,000 ($834 psf). The property received no bids and was not sold, and it will be put up for auction again. The condo is located along Rosewood Drive, off Woodlands Avenue 2.
The unit, on the third floor of the condo, was purchased at $865,000 ($864 psf) in September 2012, based on caveats lodged with URA. “It appears that some renovation has been done and the unit is still in a well-kept, move-in condition,” describes Joy Tan, head of auction and sales at ET&Co.
The unit comes with a study room and is spacious, with a functional and squarish layout, says Tan. It has a closed-concept kitchen, “which is more uncommon for newer two-bedroom units as these usually offer a kitchenette”, she adds. The unit faces south and is surrounded by greenery.
Completed in 2011, Rosewood Suites, a 99-year leasehold condo, comprises 200 units across five storeys. The development has facilities such as a 50m lap pool, tennis court, gym and function room.
For price trends, recent transactions, other project info, check out the Rosewood Suites project details page
The development is an 11-minute walk to Woodlands MRT Station on the North-South Line. It is close to educational institutions such as Singapore Sports School, Singapore American School, and Republic Polytechnic. It is also near the upcoming Woodlands Integrated Healthcare Campus. The Causeway Point mall is a 13-minute walk away.
One of the most recent resale transactions at Rosewood Suites was that of a 1,066 sq ft, three-bedroom unit on the second floor. It changed hands at $800,000 ($751 psf) on Feb 22. On the same day, a 678 sq ft, one-bedder on the fourth floor was sold for $645,000 ($951 psf).
Tan believes that the unit up for auction will attract those who are working near the rejuvenated Woodlands Civic District. This can also draw investors, as they can expect tenants from among those working in Woodlands, with children studying in nearby schools, she says. It might also be able to attract Malaysian tenants who work in Singapore but go back to Johor Bahru often, she adds.
Moving forward, “we expect response to be healthy, especially since the indicative price is well below $1,000 psf”, says Tan. “As the lull period during the June school holidays comes to an end, we expect buyers’ interest to return to the market.”
For the latest listings in Rosewood Suites, click here
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