Unit at TwentyOne Angullia Park sold for $3,810 psf

SINGAPORE (EDGEPROP) - The Hungry Ghost Festival in August has certainly not spooked rich buyers from making luxury condo purchases. In just the first 13 days of the month, there were 10 such transactions above $9 million, based on caveats lodged to date.
Eight of the 10 transactions above $9 million were for units at Nouvel 18 on Anderson Road, which previewed towards the end of July. To date, 21 units have been sold. Many of the units that have been snapped up were the four-bedroom-plus-study units of 2,820 to 3,337 sq ft at prices ranging from $9.15 million ($3,245 psf) for a mid-floor unit to $12.9 million ($3,867 psf) for a high-floor unit in the twin 36-storey towers.
According to City Developments Ltd (CDL), 90% of the buyers are foreigners. The majority are said to be from China.
A total of 21 units at Nouvel 18 have been sold to date, where many of the units are four-bedroom-plus-study apartments priced from $9 million (Credit: Samuel Isaac Chua/EdgeProp Singapore)
The freehold, 156-unit luxury project in prime District 10 is designed by French architect Jean Nouvel and was completed in 2014. The project has a mix of two-, three- and four-bedroom apartments as well as sky suites and penthouses with sizes ranging from 1,335 to 6,318 sq ft.
“The profile of buyers at Nouvel 18 is very similar to those of Boulevard 88,” observes Dominic Lee, head of luxury team at PropNex Realty. At Boulevard 88, which was launched in March this year, many of the units sold initially were also four-bedroom units from 2,777 sq ft and priced above $9 million.
“There has been very little new supply of large-format apartments in the prime Districts 9 and 10 in recent years,” notes Lee. “That’s probably why such units are being snapped up.”
Located on Orchard Boulevard in prime District 9, Boulevard 88 is developed by a joint venture between CDL, Hong Leong Holdings and LEA Investments. Based on caveats lodged, the 154-unit luxury project is about 46% sold to date at an average price of $3,828 psf.
Meanwhile, at the 96-unit, freehold 3 Cuscaden, only the final phase of 19 units are available for sale, according to PropNex’s Lee. The project was launched last November by developer Sustained...