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SG More pricey homes for sale in Nassim

Property Here - Tuesday, April 16, 2013

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By Romesh Navaratnarajah:

A week after a bungalow in Nassim Road made headlines for its record-breaking asking price of S$300 million; six freehold properties in the same swanky district are up for sale by an expression of interest process.

The homes at 8 Nassim Hill are being sold for S$58 million to S$59 million or between S$2,400 to S$2,500 psf, reported The Straits Times.

Developed by BBR Holdings and Shing Kwan, the units comprise three penthouses, two townhouses and another corner townhouse, all of which come with a private swimming pool. 

While the developer initially planned to keep the units for investment, interested buyers had shown serious interest for the homes. 

“We are formally mandated to make the units available for sale to interested bulk purchasers and, at the right price, the developer will sell the property,” said Steven Ming, Deputy Managing Director and Head of Investment Sales at Savills, the property’s exclusive marketing agent. 

With only about 400 freehold non-landed homes in Nassim, Ming feels “this is the right time to be investing in the high-end residential market”.  

“We do not think that any supply growth of physical residential units in the prime areas can match up to a potential uplift in demand that can be underpinned by population growth over the medium to long term,” he added.

Last week, Wing Tai Holdings Chairman Cheng Wai Keung launched the tender for his good class bungalow at Nassim Road, priced at S$300 million.

Image: The development at 8 Nassim Hill

 

Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@allproperty.com.sg