Amalgamated 4,672 sq ft unit at Dalvey Haus hits a high of $3,485 psf
By Timothy Tay
/ EdgeProp Singapore |
SINGAPORE (EDGEPROP) - A caveat was lodged recently for a 4,672 sq ft, ground-floor unit at Dalvey Haus for $16.28 million. The price translates to $3,485 psf, which is the highest psf-price achieved for the freehold boutique development, and also the highest psf-price achieved for the week of Jan 19 to 27.
Dalvey Haus is jointly developed by KOP Properties and Low Keng Huat. According to the developers, the 4,672 sq ft unit is a four-bedroom-plus-study on a single floor plate. The buyer is said to be an Indonesian. The unit is an amalgamation of several smaller units.
Sitting on top of it is a 9,569 sq ft duplex penthouse with six bedrooms and a family room. It is also the result of the amalgamation of several smaller units. The price tag of the duplex penthouse is $40 million ($4,180 psf). However, the price is subject to change as the project is scheduled for completion by June.
The boutique condominium was originally a four-storey, 27-unit luxury project. Since the amalgamation of units in one of the three blocks, the number of units is now 17.
Dalvey Haus saw its fifth sale so far, with the 4,672 sq ft unit sold for $16.28 million. (Picture: KOP Properties)
To date, five units at Dalvey Haus have been sold. The exclusive freehold project is the redevelopment of the former Villa D’Este and is located within the White House Park Good Class Bungalow area in prime District 10. .
The boutique condo is close to Stevens MRT Interchange Station on the Downtown and Thomson-East Coast Lines. This station is one stop away from Botanic Gardens Interchange Station on the Circle and Downtown Lines, as well as Newton Interchange Station on the North-South and Downtown Lines.
Anglo-Chinese School (Primary) and Singapore Chinese Girls Primary School are within 1km of the development, while Anglo-Chinese School (Junior) and Nanyang Primary School are in the 2km range. Other schools in the vicinity include St Joseph’s Institution, Anglo-Chinese School (Barker Road) and St Margaret’s Secondary School.
Prior to the Jan 19 transaction, Dalvey Haus had not recorded any new sales since June 2021, when a 5,500 sq ft, five-bedroom unit was sold for $16.28 million ($2,960 psf) by the developer. It is also the result of the amalgamation of several smaller units.
Before that, a 1,938 sq ft four-bedder at Dalvey Haus fetched $6.2 million ($3,201 psf), according to a caveat lodged in April 2021. In 2020, two other four-bedroom units were sold: one was a 2,788 sq ft unit that fetched $8.9 million ($3,192 psf) in August, and another that was sold for $9 million ($3,228 psf) in February.
Elsewhere, the project that saw the second highest psf-price between Jan 19 and 27 is JadeScape by developer Qingjian Realty. A 775 sq ft, two-bedroom premium unit was sold for $1.73 million ($2,232 psf) on Jan 19. According to the URA caveat, this transaction is marked as a sub-sale. This unit was bought from the developer for $1.33 million ($1,720 psf) in September 2018, at the launch of the project.
The sub-sale of a two-bedroom premium saw a record psf-price at JadeScape of $2,232 on Jan 19. (Picture: Samuel Isaac Chua/The Edge Singapore)
The psf-price of this sub-sale surpasses the previous record which was set on Dec 29 last year when a 1,152 sq ft, three-bedroom premium unit was transacted for $2.52 million ($2,188 psf). Caveat data shows this was also a sub-sale and that the unit had been bought from the developer for $1.92 million ($1,667 psf) in September 2018.
JadeScape is a 1,206-unit residential development along Shunfu Road in District 20. The mega-development was launched in September 2018, and sold more than 330 units during the first day of its opening sales weekend on Sept 22. According to the latest developer sales data, the last available unit at JadeScape was sold in September 2022.
JadeScape is located in the Bishan neighbourhood. It fronts Marymount Road and Shunfu Road, and is within a three-minute walk of Marymount MRT Station on the Circle Line. It is also close to Bishan MRT Interchange Station on the North-South and Circle Lines.
The condo has a mix of unit types that range from one- to five-bedroom units of 527 to 2,099 sq ft, while penthouses are 4,230 sq ft. JadeScape is expected to be completed by the end of this year.
According to caveats, there have been approximately 35 sub-sale transactions at Jade-Scape so far. Profits from these sub-sale transactions range from $45,000 when a 1,259 sq ft unit was resold for $2.18 million ($1,695 psf) in December 2021, to $787,000 when a 2,099 sq ft unit changed hands for $4 million ($1,906 psf) in April 2022.
No project psf-price lows were recorded during the period in review.
Check out the latest listings near Dalvey Haus, JadeScape, Marymount MRT Station, Stevens MRT Interchange Station, Botanic Gardens Interchange Station, Newton Interchange Station, Anglo-Chinese School (Primary), Singapore Chinese Girls Primary School, Anglo-Chinese School (Junior), Nanyang Primary School, St Joseph’s Institution, Anglo-Chinese School (Barker Road), St Margaret’s Secondary School
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