Based on URA caveats, transactions involving penthouse devices at Suites at Orchard are uncommon. No devices of any size were marketed between October 2018 as well as December 2020 as well as just four systems have actually been offered in the past 18 months. The most current purchase was for a 732 sq ft unit that was sold for $1.4 million ($1,913 psf) on May 27.
A two-bedroom penthouse system at Suites at Orchard is on the market for $2.27 million. The guide rate for the 1,367 sq ft device translates to Altura EC around $1,660 psf based on the flooring location. Based on URA caveats, deals involving penthouse devices at Suites at Orchard are unusual. No systems of any type of dimension were offered between October 2018 and December 2020 as well as just four systems have been offered in the previous 18 months. Far this year, at least 36 devices have been rented out, compared to at the very least 60 devices that were leased in 2021.
There are 16 penthouse devices at Suites at Orchard that range from 840 sq ft one-bedders to 1,485 sq ft, two-bedroom devices. Far, the most expensive penthouse sold was a 1,485 sq ft, two-bedroom unit that changed hands for $2.7 million ($1,818 psf) in April 2016.
Suites at Orchard is a 99-year leasehold development along Handy Road in prime District 9. Situated in the Dhoby Ghaut area, the condo is likewise close to the arts and heritage districts along Bras Basah, Bencoolen Street and also Middle Road.
The unit features a normal layout with an en collection master bed room, a second room and also a typical restroom. According to the building listing, the unit is tenanted until December 2023 and also will certainly be sold with the existing tenancy.
Nonetheless, the condominium has actually had a stable rental track record. Much this year, at least 36 devices have been leased out, contrasted to at the very least 60 systems that were rented in 2021. A compilation of rental data over the past 12 months by EdgeProp Singapore shows that the ordinary rental fee has to do with $5.60 psf per month. EdgeProp Singapore likewise approximates that owners who rent out their units enjoy an approximate rental yield of 3.5%.
Suites at Orchard is the residence closest to the Plaza Singapura buying mall, and situated beside it is the Haus on Handy, which is anticipated to be completed following year. There is The Cathay Residences, which is part of the mixed-use development The Cathay, a landmark situated at the end of Orchard Road.
A two-bedroom penthouse device at Suites at Orchard is on the market for $2.27 million. The overview price for the 1,367 sq ft device converts to around $1,660 psf based upon the floor area. An owner’s sale, the device will be set up for auction by ERA Realty on July 26.
Kensington Square Project Details
Suites at Orchard take advantage of its proximity to the Orchard Road buying belt and the arts and heritage district at Bras Basah and Bencoolen Street.
The Dhoby Ghaut location is offered by Dhoby Ghaut MRT Station, which is an interchange offering the North-South, North-East and Circle Lines. Bencoolen MRT Station on the Downtown Line and also Bras Basah MRT Station on the Circle Line are likewise nearby.