Unit at 3 Cuscaden sold at high of $4,162 psf

SINGAPORE (EDGEPROP) - A 420 sq ft, one-bedroom unit at 3 Cuscaden was sold for close to $1.75 million or $4,162 psf, according to a caveat lodged with URA Realis on Aug 13. This is the highest price psf achieved at the 96-unit development since it was launched last November. The buyer is believed to be a Singaporean investor, with the deal brokered by PropNex.
Less than a year after its launch last November, 3 Cuscaden is 81% sold with units averaging $3,573 psf (Photo: PropNex)
To date, 78 units (about 81%) of the project have been taken up at an average price of $3,573 psf, based on caveats lodged. The project is jointly marketed by Huttons Asia and PropNex Realty.
The 23-storey, freehold project is located on Cuscaden Walk, just off Orchard Boulevard. The development by Sustained Land contains a mix of one-, two- and three-bedroom apartments, with sizes ranging from 420 to 1,281 sq ft.
Meanwhile, at the 43-unit, luxury project Le Nouvel Ardmore, a 3,929 sq ft, four-bedroom unit on the 12th floor fetched $15.7 million or $4,000 psf, based on a caveat lodged on Aug 14.
A 3,929 sq ft, four-bedroom unit on the 12th floor of Le Nouvel Ardmore recently fetched $15.7 million or $4,000 psf (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Just one street away on Anderson Road, Nouvel 18 was launched by City Developments Ltd in July. About 21 units have been sold to date, at prices averaging $3,500 psf. Most of the units sold were four-bedroom units sized from 2,820 to 3,337 sq ft that fetched $9.15 million ($3,245 psf) to $12.9 million ($3,867 psf), according to caveats lodged to date.
“Two interesting trends have emerged in prime Districts 9 and 10 after the property cooling measures took effect in July last year,” says Dominic Lee, head of luxury team at PropNex. “There is a pick-up in demand for compact one- and two-bedroom units, predominantly by a mix of local and foreign investors; and in sizeable three- and four-bedroom units, by foreigners for their own use.”
Other condos in...