Two-bedroom penthouse at Suites at Orchard selling for $2.27 mil

Cairnhill Nine Condo Price

A two-bedroom penthouse unit at Suites at Orchard is on the market for $2.27 million. The overview cost for the 1,367 sq ft unit equates to about $1,660 psf based upon the flooring location. An owner’s sale, the unit will be put up for auction by ERA Realty on July 26.

The Dhoby Ghaut area is offered by Dhoby Ghaut MRT Station, which is an interchange offering the North-South, North-East as well as Circle Lines. Bencoolen MRT Station on the Downtown Line and Bras Basah MRT Station on the Circle Line are also nearby.

Suites at Orchard is a 99-year leasehold advancement along Handy Road in prime District 9. The 118-unit development was completed in 2014. Situated in the Dhoby Ghaut location, the condo is likewise close to the arts as well as heritage districts along Bras Basah, Bencoolen Street as well as Middle Road. The National Museum, the Singapore Management University university as well as the School of the Arts are likewise nearby.

A two-bedroom penthouse system at Suites at Orchard is on the market for $2.27 million. The overview cost for the 1,367 sq feet unit converts to about $1,660 psf based on the flooring location. Based on URA caveats, purchases including penthouse devices at Suites at Orchard are unusual. No units of any size were sold in between October 2018 and also December 2020 and also just 4 systems have actually been offered in the previous 18 months. Far this year, at least 36 units have been leased out, compared to at least 60 units that were rented in 2021.

There are 16 penthouse systems at Suites at Orchard that range from 840 sq ft one-bedders to 1,485 sq ft, two-bedroom units. Thus far, the most expensive penthouse sold was a 1,485 sq ft, two-bedroom unit that transformed hands for $2.7 million ($1,818 psf) in April 2016.

Suites at Orchard take advantage of its distance to the Orchard Road purchasing belt as well as the arts as well as heritage area at Bras Basah and also Bencoolen Street.

Based on URA caveats, deals entailing penthouse systems at Suites at Orchard are uncommon. No devices of any kind of dimension were marketed between October 2018 and December 2020 and just 4 devices have been sold in the past 18 months. The most current transaction was for a 732 sq ft system that was cost $1.4 million ($1,913 psf) on May 27.

The device features a normal layout with an en collection master bedroom, a second bed room and a common washroom. A little service backyard is linked to the open-concept kitchen, which leads into the living and dining room. A staircase in the living room results in the upper flooring and also a balcony beside the living room dealing with Handy Road, while the upper flooring consists of an unsheltered roofing balcony. According to the property listing, the unit is tenanted till December 2023 as well as will certainly be sold with the existing occupancy.

Nonetheless, the condo has actually had a stable rental performance history. Up until now this year, at least 36 systems have actually been rented out, contrasted to a minimum of 60 systems that were leased in 2021. A collection of rental data over the past 12 months by EdgeProp Singapore reveals that the typical rental fee has to do with $5.60 psf monthly. EdgeProp Singapore also approximates that owners who lease out their systems appreciate an approximate rental return of 3.5%.

Suites at Orchard is the home closest to the Plaza Singapura buying mall, and situated next to it is the Haus on Handy, which is expected to be finished following year. There is The Cathay Residences, which is part of the mixed-use advancement The Cathay, a landmark located at the end of Orchard Road.