Four-bedder at freehold Honolulu Tower going for $16.5 mil
The latest freehold advancement in the place is Perfect Ten, a 230-unit project launched for revenue in 2021. The high-end project was fully sold last June at a common cost of about $3,400 psf. Other freehold developments in the area include Wing On Life Garden on Bukit Timah Road, where purchase rates balance $2,255 psf, and Palm Spring on Ewe Boon Roadway, which sees an ordinary cost of $2,284 psf.
Tan expects the unit is going to interest customers looking for large-size houses to accomodate family needs, in addition to those who intend to send their children to any one of the neighboring academies.
A distinguishing characteristic of the property’s style is a garden balcony that covers throughout fifty percent of the unit. This outdoor patio is accessible from the living room, private family hall, bedroom, and among the other bedrooms. All the bedrooms are en suite. The real estate also presents separate living and dining-room, along with an enclosed kitchen that point to a lawn and an attendant’s area.
According to Knight Frank, the unit up for sale is currently rented for around $25,000 per month and the occupancy will finish in November 2026. There were six rental purchases lodged at Honolulu Tower last year, with rents varying from $30,000 (or about $10 psf per month) to $12,000 ($4 psf monthly).
Based upon cautions lodged, resale transactions at Honolulu Tower are occasional. The most recent transaction happened in June 2021, when a four-bedder on the 7th ground was sold for $10.8 million ($1,855 psf). Some other four-bedroom unit on the 12th level fetched $9.1 million ($1,563 psf) in July 2019.
A four-bedroom unit at Honolulu Tower is on the market through private treaty and marketed by Knight Frank Singapore. It will be an operator’s sale and the 5,821 sq ft unit has an overview price of $16.5 million, which equates to $2,834 psf on the floor area.
It is uncommon to find a large-sized apartment like this on the marketplace today, as recent new launch properties rarely provide units of this dimension, states Tricia Tan, supervisor of auction and sales at Knight Frank. “This unit feels very much like a ‘bungalow in the sky’ provided its roomy style,” she states, adding that the demand for large-sized luxury units currently outpaces the available resale supply in the marketplace.
Pinetree Hill showflat location
Finished in 1985, Honolulu Tower is a freehold development on Bukit Timah Road in prime District 10. There are just 30 units throughout the 16-storey project, which includes four-bedroom units of 5,823 sq ft and a pair of 10,312 sq ft penthouses.
“Honolulu High rise is a desired property development given its freehold period and location within an affluent residential area close to Newton and Balmoral Roadway. It’s relative low-density with only 30 exclusive four-bedroom units over a big site area of about 68,864 sq ft also makes it an appealing development,” sats Tan.
The condominium is near to numerous popular institutions, amenities and the public transport network. According to OneMap, the project is just within 1km of Anglo-Chinese School (Primary) and Singapore Chinese Girls’ Primary School. Higher education schools in the vicinity include St Joseph’s Institution and Catholic Junior College. In addition, Honolulu Tower lies between two MRT interchanges– Stevens on the Downtown and Thomson-East Coast Lines, as well as Newton on the North-South and Downtown Lines.
Nevertheless, resale costs at Honolulu Tower climbed up from about $940 psf in May 2010, to approximately $1,810 psf a several years later on. Based upon a compilation of resell warnings by EdgeProp Singapore, the condo’s ordinary cost today is around $1,855 psf.
