A 1,453 sq ft mid-floor unit at Soleil @ Sinaran in prime district 11 has been listed for sale on TheEdgeProperty.com at $2.10 million or $1,445 psf. For buyers with bigger budgets, the asking price presents a value proposition.
The listing price is similar to 2010 and 2011 level
The last time comparable units were transacted at this level was in 2010 and 2011. In August 2010, a 1,453 sq ft unit on 12th floor was sold for $1,450 psf and in November 2011, a 1,442 sq ft unit on the 10th floor changed hands at $1,421 psf.
Prices for similar units subsequently climbed to $1,500 psf level in 2012. A 1,453 sq ft unit on 8th floor was transacted at $1,548 psf in September 2012.
There was no transaction involving comparable units thereafter. In May 2015, a low floor 958 sq ft unit fetched $1,741 psf. After adjusting for size and floor level, the indicative value of the subject property is at least $1,500 psf.
At $1,445 psf, the subject property is priced at a slight premium compared to some mass-market developments and on par with many city-fringe projects.
Soleil @ Sinaran is located a stone’s throw away from Novena MRT station, Velocity @ Novena Square shopping mall and Oasia Hotel.
Table 1: Recent transactions at Soleil @ Sinaran
Table 2: Location scan of competitive projects within 1 km from Soleil @ Sinaran
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Editor: To real estate agents – if you have secured an interesting listing or concluded an interesting deal recently, we would love to hear from you! Contact us at propertyeditor.sg@bizedge.com
As we are not party to the contract between the client and agent, we are not able to verify information provided by the agent.
This article appeared in The Edge Property Pullout, Issue 701 (November 2, 2015) of The Edge Singapore.