SINGAPORE (EDGEPROP) - A freehold duplex penthouse at Viva Vista, located along South Buona Vista Road in District 5, is on the market for $970,000 ($1,234 psf) via private treaty, according to Edmund Tie, which is handling the sale of the property.
Spanning 786 sq ft, the penthouse unit is on the fifth floor of the development and comprises a bedroom and a study room. The master bedroom is located on the upper level of the unit and opens up to a small balcony, says Joy Tan, head of auction and sales at Edmund Tie.
The unit last transacted in September 2010 for $1.08 million ($1,370 psf), based on caveats lodged with URA.
Tan believes the unit will be attractive to owner-occupiers and investors due to its strategic location. The development is close to Haw Par Villa MRT Station on the Circle Line. It is also near to business hubs such as Fusionopolis and Mapletree Business City and educational institutions like National University of Singapore, United World College of South East Asia and Anglo-Chinese School.
View from the unit (Credit: Edmund Tie)
So far, interest from the public on the unit has been “encouraging due to its quantum affordability”, at a price tag below $1 million for a freehold property in District 5, says Tan. Opposite Viva Vista, The Verandah Residences, which launched in 2018, has fetched prices averaging $1,800 to $1,900 psf, she notes.
She estimates that typical one-bedroom units in the development can fetch rentals ranging from $1,800 to $2,000 per month, based on recent caveats lodged with URA. However, she is confident that the unit on the market can secure a higher rent as it is a duplex penthouse.
Viva Vista comprises 144 units across five storeys. As at Sept 3, the most recent transaction at the development was on July 17, when a 388 sq ft unit on the second floor transacted at $616,000 ($1,590 psf). Meanwhile, another similar sized unit on the second floor sold for $625,000 ($1,613 psf) on July 30, 2019.
Checkout the latest listings near: Viva Vista, Haw Par Villa MRT Station, National University of Singapore, United World College of South East Asia and Anglo-Chinese School.
Read Also: