Saturday, September 10, 2011

The Nassim units to be priced at $9-33m

CAPITALAND has priced the 55 units at its The Nassim condo between $9 million and $33 milllion.
The low-rise condo, on the former ANA Hotel site at Nassim Hill, has been designed by Mok Wei Wei of W Architects. The project will be set amidst lush greenery, creating a distinct ambience of living in a landed area.

'This will appeal especially to foreigners, who face restrictions buying landed properties on mainland Singapore,' says Wendy Tang, executive director (residential) at Knight Frank, which is the marketing agent for the project.

'We have begun making private presentations to select prospective clients from Singapore and overseas,' she added.

Prices begin at $9 million for a three-bedroom apartment of about 2,000 sq ft. The most expensive unit is a $33 million penthouse dubbed The Regent House. The 9,300 sq ft duplex unit is spread across the fifth level with and an attic/rooftop floor above it housing a bedroom, family area and private swimming pool. The Regent House has five bedrooms, as well as five dedicated basement carpark lots and a chauffeur's room, with a private lift to the apartment.

The Nassim also offers a $30 million 9,000 sq ft, five-bedroom Pavillion House on the ground floor overlooking the swimmming pool in the development. The Pavillion House comes with three basement car park lots. The dining area of this unit is set amidst a reflecting pool.

Each apartment in the project is designed as a standalone unit, without an adjoining wall to the next unit. There are landscaped sky bridges on the second level.

Penthouse seekers with smaller budgets may consider Sim Lian's 99-year leasehold private condo A Treasure Trove near Punggol MRT Station. The 882-unit project has 42 penthouses ranging from 1,528 sq ft (with two bedrooms) to 4,876 sq ft (seven bedrooms). The penthouses prices are said to range from nearly $1 million to around $2.8 million.

The project's preview began on Thursday and as at 5.30 pm yesterday, 24 penthouses had been released of which 11 have been sold, including the largest unit, which has seven bedrooms on the 16th floor and an open terrace above it.

In all, 350 units in the project had been sold as at 5.30 pm yesterday. Singaporeans accounted for 94 per cent of buyers. Some 80 per cent of buyers have HDB addresses, mostly in the surrounding Punggol and Sengkang vicinity. Sim Lian estimates that 40 per cent of buyers are investors and the other 60 per cent, owner occupiers.

Sim Lian released another 200 units yesterday, taking total units released to 500 units. The average price remains unchanged at $866 psf.

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