One buyer has purchased an entire ultra-luxury condominium in Orchard, with its 20 apartment units. The condominium was sold for S$293 million, according to Swire Properties. This rise in interest in luxury condo in Singapore is likely to continue as foreign investors becomes confident of Singapore economy as Singapore demonstrated that they handled the Covid 19 pandemic well during this period. Shun Tak Holdings also set to launch its luxury condo at Les Maisons Nassim Showflat.
Each apartment unit is larger than two executive flats, measuring over 3,000 square feet (279 square meters).
To place this number in perspective, a one-bedroom apartment at Draycott 8, just down the lane, costs S$2,379.14 per square foot.
S$833 per square foot was the price of a five-room HDB flat in Clementi that recently sold for S$1.04 million.
The selling is scheduled to close on May 26, 2021.
The buyer is thought to be a Chinese family, according to EdgeProp. EdgeProp also mentioned that the Eden units were initially priced at S$6,000 per square foot, implying that the buyer received a 20% bulk discount.
Eden was planned by Thomas Heatherwick of Heatherwick Studios, who also designed The Hive at NTU, which was completed in 2019. Singapore’s idea of a “community in a park” was the inspiration for the condominium. Each unit has its own 270-degree bespoke “private gardens-in-the-sky” packed with tropical greenery and spans an entire floor:
The condominium, according to its brochure, has a panoramic view of the Orchard neighborhood, including attractions such as The American Club, Goodwood Park Hotel, ION Orchard, and Singapore Marriot.