SINGAPORE (EDGEPROP) - With only a handful of new launches in the Cairnhill/Orchard Road area over the last few years, units up for sale at uncompleted projects in the area are highly sought after by buyers keen to purchase a new luxury home in this prime district.
Read EdgeProp's latest Master Plan Masterclass 2023 about the Orchard Road/Cairnhill areas here.
Among the new projects in the area, buyers have recently zoomed in on Klimt Cairnhill, a freehold development by mainboard-listed construction and property company Low Keng Huat. The 138-unit development comprises a single 36-storey tower on a 62,904 sq ft site. The project was launched for sale in August 2021.
Designed by DP Architects, the project features a curvilinear façade design with gold highlights that add a touch of sophistication. The design was also inspired by Austrian artist Gustav Klimt’s paintings in gold leaf, says Alvin Teo, executive director of Low Keng Huat, in a presentation on the project at EdgeProp’s master class webinar on Feb 25. A neighbouring conserved bungalow serves as the residents’ clubhouse. The condo has a mix of two- to four-bedroom apartments that range from 829 to 2,368 sq ft.
Low Keng Huat relaunched the project after a refurbishment of the sales gallery was completed in January this year, and sales significantly picked up on the back of renewed interest from high-net-worth buyers.
The most prime units at Klimt are the two penthouses: a 4,898 sq ft six-bedroom simplex on the 36th floor, and a 5,290 sq ft six-bedroom duplex on the 35th and 36th floors. Last month, the duplex was sold to a mainland Chinese buyer for $27.5 million ($4,645 psf).
The simplex penthouse was sold for $26 million ($5,309 psf) last November.
Meanwhile, a 2,368 sq ft, four-bedroom unit on the 35th floor was sold for $10.1 million ($4,264 psf) on Dec 25 last year, followed by another four-bedder on the 31st floor that fetched $9.95 million ($4,202 psf) on Jan 9.
According to sales data provided by the developer, 38 units have been sold so far, bringing the take-up rate to 28%. Sales data tabulated by EdgeProp show that steady sales have raised the average price at Klimt Cairnhill to about $3,778 psf.
Check out the latest listings near Klimt Cairnhill, Orchard Road, Cairnhill