Four-bedder at freehold Honolulu Tower going for $16.5 mil
The condominium is near to several widely known colleges, amenities and the general public transport network. According to OneMap, the project is inside 1km of Anglo-Chinese School (Primary) and Singapore Chinese Girls’ Primary School. Higher education schools in the vicinity consist of St Joseph’s Institution and Catholic Junior College. Additionally, Honolulu Tower lies in between 2 MRT interchanges– Stevens on the Downtown and Thomson-East Coast Lines, including Newton on the North-South and Downtown Lines.
Based on caveats lodged, resale purchases at Honolulu Tower are occasional. The most current transaction occurred in June 2021, when a four-bedder on the seventh floor was cost $10.8 million ($1,855 psf). Some other four-bedroom unit on the 12th level fetched $9.1 million ($1,563 psf) in July 2019.
Tan anticipates the unit is going to appeal to customers in search of large-size apartments to accomodate family wants, as well as those who prepare to send their kids to any of the nearby academies.
Finished in 1985, Honolulu Tower is a freehold development on Bukit Timah Road in prime District 10. There are just 30 units inside the 16-storey development, which includes four-bedroom units of 5,823 sq ft and a pair of 10,312 sq ft penthouses.
A distinctive feature of the property’s layout is a garden terrace that wraps all over fifty percent of the unit. This outdoor patio is accessible from the living room, private family hall, bedroom, and among the other bedrooms. All the bedrooms are en suite. The property also presents separate living and dining rooms, as well as an enclosed kitchen area that leads to a yard and a helper’s room.
A four-bedroom unit at Honolulu Tower is on the market via private treaty and marketed by Knight Frank Singapore. It will be an operator’s sale and the 5,821 sq ft unit has a guide price of $16.5 million, which translates to $2,834 psf on the floor area.
“Honolulu High rise is a popular development given its freehold tenure and place within an affluent residential neighbourhood near to Newton and Balmoral Roadway. It’s relative low-density with only 30 exclusive four-bedroom units over a big site area of around 68,864 sq ft also makes it a pleasing project,” sats Tan.
The most recent property advancement in the spot is Perfect Ten, a 230-unit project started for revenue in 2021. The deluxe project was totally sold last June at an average cost of about $3,400 psf. Other property projects in the area consist of Wing On Life Garden on Bukit Timah Roadway, where deal costs balance $2,255 psf, and Palm Spring on Ewe Boon Roadway, which sees an ordinary price of $2,284 psf.
It is uncommon to get a large-sized flat such as this on the marketplace these days, as recent new launch projects hardly provide units of this dimension, mentions Tricia Tan, supervisor of auction and sales at Knight Frank. “This unit feels very much like a ‘bungalow in the sky’ given its roomy style,” she says, adding that the interest for large-sized luxury units currently outpaces the available resale source out there.
Regardless, resale rates at Honolulu Tower climbed from about $940 psf in May 2010, to approximately $1,810 psf a decade later on. Based upon a collection of resale signs by EdgeProp Singapore, the condo’s ordinary price today is about $1,855 psf.
According to Knight Frank, the unit up for sale is currently rented for around $25,000 monthly and the tenancy is going to finish in November 2026. There were 6 rental transactions lodged at Honolulu Tower last year, with rents ranging from $30,000 (or about $10 psf each month) to $12,000 ($4 psf monthly).
