Four-bedder at Nassim Park Residences sold for a record high of $4,785 psf

The latest $4,785 psf high price achieved at Nassim Park Residences is testament to the fact that there is still strong demand for quality luxury condo projects, particularly those that are completed, says Eyo.A four-bedroom condo at Nassim Park Residences recently sold to Subodh Mithu Chanrai for a record-breaking $4,785 psf. The lavish, 4,284 sq ft unit is located in a 100-unit, freehold condo, developed by a consortium comprising Singapore-listed property firm UOL Group, billionaire Wee Cho Yaw’s privately-held investment vehicle Kheng Leong Co, and Tokyo-based investment firm Orix Corp.The project was UOL’s luxury offering and saw the developer collaborate with three international designers: Singapore-based architect Chan Soo Khian of SCDA Architects, Japanese monk and landscape designer Shunmyo Masuno and the late French minimalist interior designer Christian Liaigre.The record-breaking sale price of the four-bedroom unit, purchased from an Indonesian in 2009 for $14 million ($3,268 psf), is an indication of the strong demand for high-end condos in the prestigious Nassim area of Singapore.Neighbouring The Nassim has even seen a four-bedroom, 5,307 sq ft unit listed for sale at $23 million ($4,334 psf). Subodh Mithu Chanrai’s purchase at Nassim Park Residences, at a high of $4,785 psf, puts yet another marker in the high-end Singapore condo market.

Nassim Park Residences recently made Singapore property history with a record-breaking $4,785 psf sale of a lavish 4,284 sq ft, four-bedroom unit. Subodh Mithu Chanrai, the youngest of three sons who co-owns the family-owned conglomerate Chanrai Summit Group, purchased the luxurious unit at the freehold, 100-unit condo on Nassim Road.

The seller was an Indonesian who had purchased the unit from the developer in 2009 for $14 million, translating to a capital appreciation of $6.5 million over 14 years.

At the neighbouring luxury condo, The Nassim, a four-bedroom, 5,307 sq ft unit had also recently been listed for sale at $23 million ($4,334 psf).

Samuel Eyo, managing director of Lighthouse Property Consultants, observes that the strong demand for quality luxury condos, particularly those that are completed, was evident from the record-breaking psf price achived at Nassim Park Residences.

Developed by a consortium of property entities, which included UOL Group, Kheng Leong Co and Orix Corp, Nassim Park Residences was launched in late May 2008 and completed in 2011. The project was given a luxurious outlook through collaborations Senja Close EC between the developer and three international designers: Singapore-based architect Chan Soo Khian of SCDA Architects, Japanese monk and landscape designer Shunmyo Masuno and the late French minimalist interior designer Christian Liaigre.

The Nassim, a 55-unit freehold condo, was similarly developed with the help of Singapore-based award-winning architect Mok Wei Wei of W Architects.

The record-breaking price achieved at Nassim Park Residences is proof of the strong demand for high-end condos in the prestigious Nassim area of Singapore. Buyers are looking for properties that have a grand entrance, luxurious feel and top-notch amenities, making these completed luxury condominiums particularly attractive.

It is clear that buyers are willing to pay a premium for convenience and quality, a bar that had been set with Subodh Mithu Chanrai’s purchase at Nassim Park Residences.