Three-bedroom unit in Palm Green going for $1.58 mil
By Timothy Tay
/ EdgeProp Singapore |
SINGAPORE (EDGEPROP) - A 1,410 sq ft, three-bedroom unit at Palm Green — a freehold development along Pasir Panjang Road — is on the market for $1.58 million ($1,126 psf). The property is marketed by the auction team at Knight Frank Singapore and is listed for sale by private treaty.
Palm Green is a freehold condominium along Pasir Panjang Road. (Picture: Albert Chua/The Edge Singapore)
Palm Green is located in District 5. The 40-unit condominium, which was completed in 1999, comprises two- and three-bedroom units of 1,097 sq ft to 1,517 sq ft. It is located in the West Coast area and is close to the National University of Singapore as well as schools such as The Japanese Primary School and Waseda Shibuya Senior High School. The condominium is also near the Haw Par Villa MRT Station on the Circle Line.
The unit for sale is located on the ground floor and includes a utility room, while the master bedroom and living room both face the condominium’s swimming pool. According to Knight Frank Singapore manager Teddy Ng, the unit is oriented in a southeast direction and there are no other units in the development facing it.
It is currently home to a family of four and their domestic helper, says Ng. He reckons that this unit will likely attract buyers who value a freehold home with enough rooms and space for their family. The bedrooms are spacious enough to fit in queen-sized beds. The unit has been on the market for about three months and has attracted “a fair amount of interest” from potential buyers, Ng notes.
Most of the residents in Palm Green are local families, but the development also attracts students who are attending the nearby university and schools. Based on URA data for this year, two three-bedroom units were rented in May at $2,700 and $2,900 per month respectively, while a two-bedroom unit was leased for $2,500 per month in January.
Ng says property prices for resale and new launch projects in the Pasir Panjang area have been climbing, and demand tends to stem from those working at the nearby Mapletree Business City in Alexandra and the one-north business park in Queenstown.
For price trends, recent transactions, other project info, check out Palm Green project research page
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