Four-bedder at freehold Honolulu Tower going for $16.5 mil
The most recent estate advancement in the spot is Perfect Ten, a 230-unit project released for revenue in 2021. The high-end project was completely sold last June at a common cost of about $3,400 psf. Other real estate developments in the neighbourhood consist of Wing On Life Garden on Bukit Timah Roadway, where transaction prices balance $2,255 psf, and Palm Spring on Ewe Boon Roadway, which sees an average rate of $2,284 psf.
A four-bedroom unit at Honolulu Tower is on the market through private treaty and marketed by Knight Frank Singapore. It will be an operator’s sale and the 5,821 sq ft unit has an overview price of $16.5 million, which translates to $2,834 psf on the floor area.
According to Knight Frank, the unit up for sale is currently rented for around $25,000 monthly and the tenancy is going to end in November 2026. There were 6 rental deals lodged at Honolulu Tower last year, with rents varying from $30,000 (or about $10 psf each month) to $12,000 ($4 psf per month).
A distinctive feature of the property’s layout is a garden balcony that wraps all over half of the unit. This outdoor balcony is reachable from the living-room, private family hall, master bedroom, and among the other bedrooms. All the bedrooms are en suite. The property also presents different living and dining rooms, as well as an enclosed kitchen area that leads to a yard and an attendant’s room.
The Arcady @ Boon Keng Singapore
Regardless, resale rates at Honolulu Tower climbed up from about $940 psf in May 2010, to approximately $1,810 psf a 10 years later on. Based upon a compilation of resale warnings by EdgeProp Singapore, the condominium’s ordinary cost today is about $1,855 psf.
“Honolulu High rise is a sought-after property development given its property tenure and location within an affluent residential neighbourhood close to Newton and Balmoral Roadway. It’s relative low-density with only 30 exclusive four-bedroom units over a huge site area of about 68,864 sq ft also causes it to an appealing property development,” sats Tan.
Based upon cautions lodged, resale purchases at Honolulu Tower are infrequent. The most current transaction occurred in June 2021, when a four-bedder on the seventh ground was sold for $10.8 million ($1,855 psf). Another four-bedroom unit on the 12th level obtained $9.1 million ($1,563 psf) in July 2019.
Completed in 1985, Honolulu Tower is a freehold property development on Bukit Timah Road in prime District 10. There are only 30 units throughout the 16-storey property development, which contains four-bedroom units of 5,823 sq ft and a set of 10,312 sq ft penthouses.
Tan expects the unit is going to attract purchasers on the lookout for large-size houses to accomodate household needs, as well as those who prepare to send their kids to any one of the nearby academies.
The apartment is near to a number of widely known schools, amenities and the general public transport network. According to OneMap, the project is inside 1km of Anglo-Chinese Academy (Primary) and Singapore Chinese Girls’ Primary School. Higher education schools in the vicinity include St Joseph’s Institution and Catholic Junior College. In addition, Honolulu Tower is located between 2 MRT interchanges– Stevens on the Downtown and Thomson-East Coast Lines, along with Newton on the North-South and Downtown Lines.
It is uncommon to get a large-sized apartment such as this on the marketplace these days, as current new release properties seldom provide units of this measurements, mentions Tricia Tan, supervisor of auction and sales at Knight Frank. “This unit feels quite like a ‘bungalow in the sky’ given its roomy layout,” she explains, adding that the interest for large-sized high-end units currently exceeds the available resale supply on the market.
