Four-bedder at freehold Honolulu Tower going for $16.5 mil
According to Knight Frank, the unit up for sale is presently leased for around $25,000 monthly and the occupancy will finish in November 2026. There were 6 rental deals lodged at Honolulu Tower last year, with rents ranging from $30,000 (or about $10 psf monthly) to $12,000 ($4 psf each month).
Tan anticipates the unit is going to interest customers on the lookout for large-size residences to accomodate family needs, as well as those who plan to send their kids to any one of the neighboring schools.
Based on cautions lodged, resale transactions at Honolulu Tower are irregular. The most current transaction happened in June 2021, when a four-bedder on the seventh floor was sold for $10.8 million ($1,855 psf). Another four-bedroom unit on the 12th level fetched $9.1 million ($1,563 psf) in July 2019.
A distinguishing characteristic of the property’s style is a garden terrace that covers around fifty percent of the unit. This outdoor balcony is accessed from the living-room, private family hall, master bedroom, and among the other bedrooms. All the bedrooms are en suite. The property also offers different living and dining rooms, as well as a covered cooking area that leads to a yard and an assistant’s space.
The most recent estate development in the area is Perfect Ten, a 230-unit project released for revenue in 2021. The deluxe project was fully offered last June at an average rate of about $3,400 psf. Other property developments in the area consist of Wing On Life Garden on Bukit Timah Road, in which purchase prices balance $2,255 psf, and Palm Spring on Ewe Boon Road, which sees a typical price of $2,284 psf.
Regardless, resale costs at Honolulu Tower climbed up from about $940 psf in May 2010, to approximately $1,810 psf a several years later. Based upon a compilation of resale caveats by EdgeProp Singapore, the condominium’s ordinary rate today is around $1,855 psf.
Finished in 1985, Honolulu Tower is a freehold property development on Bukit Timah Road in prime District 10. There are just 30 units within the 16-storey property development, which includes four-bedroom units of 5,823 sq ft and a set of 10,312 sq ft penthouses.
A four-bedroom unit at Honolulu Tower is on the market via private treaty and marketed by Knight Frank Singapore. It will be an owner’s sale and the 5,821 sq ft unit has a guide rate of $16.5 million, that equates to $2,834 psf on the floor area.
Newport Residences condominium
It is rare to find a large-sized apartment just like this on the market nowadays, as current new release plans hardly offer units of this measurements, says Tricia Tan, director of auction and sales at Knight Frank. “This unit feels quite like a ‘bungalow in the sky’ offered its large layout,” she states, adding that the interest for large-sized luxury units currently outpaces the available resale supply in the marketplace.
The condominium is near to a number of widely known colleges, amenities and the general public transport network. According to OneMap, the development is inside 1km of Anglo-Chinese School (Primary) and Singapore Chinese Girls’ Primary School. Higher education universities in the vicinity include St Joseph’s Institution and Catholic Junior College. In addition, Honolulu Tower is located between two MRT interchanges– Stevens on the Downtown and Thomson-East Coast Lines, along with Newton on the North-South and Downtown Lines.
“Honolulu Tower is a popular property development given its property tenure and place within an affluent residential area near to Newton and Balmoral Road. It’s relative low-density with only 30 exclusive four-bedroom units over a large site area of about 68,864 sq ft also causes it to an appealing development,” sats Tan.
