Fourth Avenue Residences - Sales Transaction Units and Prices
|Unit No||Unit Type||Size (sqft)||Purchase Price||PSF Price|
|#04-29||3-Bedroom + Study||1,109||$2,712,000||$2,446|
To check on unit availability, read the Balance Units Chart.
|Type||Lo PSF||Hi PSF||Lo Price||Hi Price|
|2 Bedroom Premium||$2,411||$2,678||$1,701,000||$1,931,000|
|3 Bedroom + Study||$2,252||$2,582||$2,498,000||$2,862,000|
|4 Bedroom + Study||$2,441||$2,666||$3,601,000||$3,959,000|
(All prices for Fourth Avenue Residences displayed here are for reference purposes. Prices are subject to change from time to time without prior notice. This webpage cannot be held responsible for any pricing inaccuracies, omissions and/or dispute. For the latest unit prices, kindly please Click Here To WhatsApp us.)
When read Fourth Avenue Residences price that we sell in the market, it’s recommended to bear in mind the land cost and profit margin from the developers. Fourth Avenue Residences is developed from the governmental land sales in December 2017. Allgreen Properties won the tender from other 6 bidders and paid $552.96 million for the 199,478 sqft. The sale price worked out to a land cost of $1,540 per sq ft per plot ratio which is merely $30 higher than the second highest bid from Bukit Sembawang Esates. The new project breakeven price was expected ranging from $2050 to 2,150 psf.
As we look around, there is very scarce supply in residential land parcels at along Bukit Timah Road enclave. The only big news in the neighborhood was occurred in 2018 when the government sold a plum residential and commercial sites in the heart of Holland Village by the way of 2-envelope concept and price tender mode in 2018. Five bidders had been shortlisted in the 2nd run from the 15 bids. A consortium led by Far East Organization won the bid by paying $1.213 billion or $1,888 psf per plot ratio for the 247,214 sq ft site. Other four shortlisted bids submitted land prices from $950 million to $1.06 billion.
This new mixed development is named as One Holland Village. The residential component, One Holland Village Residences has a mix of ranging from 1-bedroom to 4-bedroom and penthouses. When it was launched in November 2019, there are over 90 units transacted at an average prices of $2,600 psf to $3,200 psf, which have made the recording price in the vicinity for 99-year leasehold development for many years.
The supply of residential land in the prime District 10 is quite scarce as well. Let’s have a briefing on some of the past transactions on land sales. The freehold condo 3 Orchard By The Park was redeveloped from the former Westwood Apartments en bloc for $435 million which is equivalent to $2,525 psf per plot ratio (psf ppr) in 2007. Then in 2018, Hong Kong-listed Shun Tak Holdings bought the former Park House for $375.5 million that was translated into a new record price of $2,910 psf ppr. Based on the projected freehold land cost over $2,500 psf, it’s quite conversational to sell the Fourth Avenue Residences over $2,800 to 3,000 psf.
In 2018, there was an exciting tender for the government land parcel at Cuscaden Road and the Government received nine bidders. The consortium of SC Global Developments, FEC Properties and New World Development successfully bid the land for nearly $410 million, which was transacted into a record price of $2,377 psf ppr for 99 year leasehold land sale. It broke the record of $1,733 psf ppr for another government land sale paid by Frasers Property for a Jiak Kim Street site in 2017, by 37 per cent. The market expected a break-even price of $3,100 to $3,300 psf for Cascaden Road development, with selling prices for the new residential project from $3,300 to $3,700 psf.
Holland Village Site Sold By Dual Envelope Concept And Price Tender Mode For Government Land Sales
Fierce Competition In Land Sales at Cascaden Road Within The Orchard Road District
10 bids received in Jiak Kim Street Land Sales
When Fourth Avenue Residences was launched in January 2020, there are 70 units sold from the 168 released units. Average price of the units sold worked out to $2,375 psf. All the 1- to 4-bedroom unit types were well-received. About 70% of the buyers are Singaporeans. Close to 80% of the buyers were said to be existing residents in prime Districts 9, 10 and 11 as well as those in the city fringe areas.
Fourth Avenue Residences is a rare large-scale luxury project in the coveted Bukit Timah Road residential enclave in prime District 10 for the sense of space and prestige. This rare residential development is the hidden jewelry in private and tranquil Fourth Avenue enclave. Going home every day to a calm and peaceful environment that is in harmony with nature and city – that is an ideal for many, but a delightful reality for those living at Fourth Avenue Residences .
The project is scheduled for completion by 2022. Don’t miss this exquisite condo. Given its coveted address and excellent of connectivity, it is also close to Bukit Timah School Belt where gather many reputable schools such as Methodist Girls’ School, Hwa Chong Institution, Nanyang Girls’ High School and National Junior College. Let’s check Fourth Avenue Residences balance units, as sales have already ramped when pent-up demand presents upon the re-opening after the circuit period for Covid-19. You are invited to Book An Appointment or Click Here To WhatsApp Us today to visit our showflat to get developer sales price, balance units, discount, and more.
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