A two-room penthouse at Belle Vue Residences on Oxley Rise is available for $3.68 million ($1,624 psf), and will show up at the Colliers International sale one month from now. The 2,271 sq ft unit is being sold in a mortgagee deal. It was first offered by the bartering house this month with a guide cost of $3.88 million ($1,712 psf), yet did not draw in any offers.
Situated off Oxley Rise in prime District 9, Belle Vue Residences is a freehold advancement by Wing Tai Holdings and was finished in 2010. The 176-unit condominium includes nine five-story obstructs with two-to five-room units of 1,378 to 5,005 sq ft.
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The unit available to be purchased was at first acquired for $4.7 million ($2,069 psf) in 2013. Situated on the fifth floor, it includes a rooftop porch with perspectives towards Orchard Road and Beach Road, and an overhang in the family room.
“Properties in prime locale – including Oxley Rise, which is in District 9 – are especially speaking to purchasers, for example, high-total assets people and outside purchasers who are purchasing properties for speculation or their own remain,” says Steven Tan, chief of offers and sale at Colliers International.
Beauty Vue Residences is situated between Orchard Road and River Valley, and is near Dhoby Ghaut Interchange which serves the North-East, North-South, and Circle Lines. It is additionally near Fort Canning Park and Fort Canning MRT Station, just as the way of life zones around Robertson Quay and Clarke Quay.
“Oxley Rise is halfway found and close to the well known Orchard Road shopping belt which is experiencing change. A lot of pleasantries are inside simple reach and the region is additionally inside strolling separation to the MRT station. These locational qualities make the region alluring to purchasers,” says Tan.
The last time a penthouse unit at Belle Vue Residences changed hands was in 2014, when a 3,897 sq ft unit got $5.85 million ($1,500 psf), as per URA Realis. The latest clearance of a unit at the advancement happened last September when a 2,002 sq ft unit on the fourth floor changed hands for $4.3 million ($2,148 psf).
“Units in the Oxley Rise zone are firmly held and difficult to find. Given the constrained supply, we accept purchasers ought to evaluate openings genuinely on the off chance that they do come up,” says Tan. “In perspective on the normal proprietors’ profile and the constrained supply in the Oxley Rise region, we anticipate costs of units around there to be firm, with very little space for arrangement.”