Final units at Perfect Ten and Pasir Ris 8 sold

The final unit at the 230-unit Perfect Ten in Bukit Timah has been sold. It was a 1,281 sq ft, three-bedroom apartment on the topmost level (24th floor), and it fetched $4.359 million ($3,403 psf) based on a caveat lodged on May 20. The buyer is said to be a Singapore Permanent Resident (PR), and PropNex brokered the deal. Developed by Hong Kong-listed property group CK Asset Holdings, the project has three 24-storey towers spanning a freehold site of 104,529 sq ft. Perfect Ten is scheduled for completion sometime next year. The freehold project in prime District 10 is popular with local homebuyers as it's within 1km of Anglo-Chinese School and Singapore Chinese Girls' School. Read also: ANALYSIS: Are larger units really in greater demand after the pandemic? Advertisement At the 192-unit, 99-year leasehold Cuscaden Reserve, a 700 sq ft, two-bedroom unit on the 18th floor of the 28-storey tower, was sold for $2.047 million ($2,926 psf), based on a caveat lodged on May 27. That brings total sales in the project to 100 units (52%) since its relaunch in March when prices were cut by up to 20%. The average price of the 88 units sold since the relaunch is $3,057 psf. Cuscaden Reserve is on Cuscaden Road in prime District 10. The luxury project is developed by Singapore luxury developer SC Global Developments in a joint venture with Hong Kong-listed developers New World Development and Far East Consortium International. It was completed last year. Along Cairnhill Road in prime District 9 is the upcoming 138-unit, freehold condo Klimt Cairnhill. Since its launch in August 2021 and relaunch in January 2023, 114 units (83%) have been sold. The latest transactions were for two-bedroom units of 829 sq ft, sold on May 15, based on caveats lodged. One of the two-bedders on the 17th floor fetched $2.72 million ($3,282 psf), while the other on the 26th floor of the 36-storey tower was snapped up at $2.828 million ($3,412 psf). Developed by listed property builder Low Keng Huat, Klimt Cairnhill is scheduled for completion next year. Meanwhile, joint developers UOL Group and Singapore Land Group have sold 142 units at Watten House on Shelford Road since the project previewed last November. The 180-unit freehold project in prime District 11 is, therefore, 79% sold to date. Read also: OPINION: Is it time to review ABSD rates? Advertisement Most of the buyers at Cuscaden Reserve, Klimt Cairnhill, Perfect Ten and Watten House are Singaporeans, says Dominic Lee, head of luxury at PropNex. "They see an opportunity to purchase units in freehold condos in the prime districts given that the price gap between Core Central Region (CCR) and Rest of Central Region (RCR) projects have narrowed further," he observes. In the suburbs of Pasir Ris, the last unit in the 487-unit condo was sold on May 26, based on a caveat lodged then. It was for a 1,302 sq ft, three-bedroom unit on the fifth level priced at $2.302 million ($1,767 psf). Launched in July 2021 by a joint venture between Allgreen Properties and Kerry Properties, Pasir Ris 8 saw 85% of the units sold on the first day of launch. The overwhelming response was due to Pasir Ris 8 being part of an integrated development sitting on top of the three-storey Pasir Ris Mall and linked to the Pasir Ris MRT Station, which will be an interchange for the East-West and Cross Island Lines. The average price of units sold in the 99-year leasehold condo is $1,630 psf. However, at least 14 units were sold at prices above $2,000 psf, with a 710 sq ft unit on the fourth level of one of the blocks hitting a high of $2,101 psf last November, according to caveats lodged.