Table of contents:
- About the development: Veranda
- Transactions at Veranda
- Detailed analysis of the transactions
- Market insights and trends
- Conclusion
Did you know that District 15 is among the more popular districts with foreign homebuyers? The district’s popularity can be attributed to its seaside location and numerous nearby amenities.
In this article, we dive a little deeper into the transactions.
Why does Veranda command such price points?
The Veranda is a freehold boutique condo located at 50 Lorong K Telok Kurau, developed by Roxy Homes Pte Ltd which consists of 24 exclusive units, offering 2 and 3-bedroom options. The development aims to blend luxury and tranquility, making it an attractive residence for potential buyers.
Below is a list of the amenities and facilities near Veranda
- Public transport:
- Marine Terrace MRT (1km) – 2-min drive (U/C)
- Kembangan MRT (1.8km) – 4-min drive
- Eunos Station MRT (2.2km) – 5-min drive
- Marine Parade MRT (1.8km) – 4-min drive (U/C)
- Schools:
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CHIJ Katong (Primary) (0.9km) – 2-min drive
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Haig Girls’ School (1.1km) – 3-min drive
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Tao Nan School (1.1km) – 3-min drive
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Ngee Ann Primary School (1.4km) – 4-min drive
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CHIJ Katong Convent (1.5km) – 4-min drive
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Tanjong Katong Primary School (2.1km) – 5-min drive
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Tanjong Katong Girls’ School (2.3km) – 5-min drive
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St. Stephen’s School (2.6km) – 6-min drive
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Kong Hwa School (3.2km) – 6-min drive
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EtonHouse International School Broadrick (3km) – 7-min drive
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Open Estate Primary School (3.1km) – 7-min drive
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Chung Cheng High School (Main) (3.2km) – 7-min drive
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Telok Kurau Primary School (3.4km) – 11-min drive
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Read this: Freehold versus Leasehold: a 10 Year Update
- Parks:
- Telok Kurau Park (0.8km) – 10-min walk
- East Coast Park (4.6km) – 7-min drive
- Hawker Centres:
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50A Marine Terrace Market (1.6km) – 4-min drive
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Marine Parade Central Market and Food Centre (2.1km) – 5-min drive
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Dunman Food Centre (1.4km) – 3-min drive
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Geylang Serai Malay Market and Food Centre (1.9km) – 4-min drive
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Haig Road Market Centre (2.4km) – 5-min drive
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Old Airport Road Food Centre (4.1km) – 9-min drive
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- Supermarkets:
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Giant Express – Marine Terrace (1.2km) – 5-min drive
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FairPrice Joo Chiat Complex (2.2km) – 8-min drive
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FairPrice Eunos Crescent (1.7km) – 6-min drive
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Fairprice Finest Marine Parade Central/Parkway Parade (2km) – 4-min drive
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- Clinics and hospitals:
- Singhealth Polyclinic (Eunos) (1.1km) – 2-min drive
- Singhealth Polyclinic (Marine Parade) (1.9km) – 4-min drive
- Parkway East Hospital (0.5km) – 6-min walk
- Amenities:
- i12 Katong (2km) – 4-min drive
- Parkway Parade (2km) – 4-min drive
- KINEX (2.4km) – 5-min drive
- Paya Lebar (2.7km) – 5-min drive
- Singpost Centre (3km) – 7-min drive
- Bedok Mall (3.3km) – 9-min drive
Next, we get into the transaction details.
Transactions at Veranda
A record-breaking transaction price was achieved at S$2.88 million at Veranda in May 2024, transacted by Aaron Ban, Division Director at ERA who has been a 99.co agent since August 2019.
Notably, the previous highest transacted price in April 2024. which was also S$2.88 million, was transacted by Aaron.
The owner who bought the unit for S$1.22 million ($489 psf) in March 2008, made a profit of S$1.67 million from this sale in 2024. This translates to a capital gain of 137%.
Read this: Should you buy a 99-year leasehold over a freehold condo?
Detailed analysis of the transactions
Comparing transactions, the previous unit transacted in April 2024 was a 5th-floor residence spanning 2,485 square feet, priced at S$1,158.30 per square foot (psf). Remarkably, within a month, a three-bedroom penthouse unit on the same floor was sold, measuring 2,390 square feet. This unit commanded an even higher psf price of S$1,205.2, surpassing the previous transaction.
This increase in psf price in just a month reflects 99.co’s latest flash report on condo resale outlook where a general increase in price was observed month-on-month.
Read more: April 2024: Condo prices up 1.5%, sales surge 23.2%
Market insights and trends
District 15 is a hotspot, with developments like Veranda attracting significant attention. Foreign interest in District 15 is increasing, contributing to the evolving local real estate market landscape.
The boutique condos in Freehold offer exclusivity and luxury, making them highly sought after. Veranda’s strategic location and high-quality development by Roxy Homes Pte Ltd make it a prime choice for both local and international buyers.
Conclusion
The ever-growing popularity of District 15 among homebuyers is of little surprise. Besides its proximity to the ocean tranquility and contemporary cafes around the neighborhood, it is of a strategic location just minutes car ride from the city centre, and contains an abundance of nearby amenities. Additionally, strong demand in the condo resale market has contributed to the surge in condo resale prices.
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Disclaimer: This information is intended solely for general informational purposes. 99.co makes no claims or guarantees regarding the accuracy, completeness, or suitability of the information, including, but not limited to, any assertion or assurance regarding its appropriateness for any specific purpose, to the maximum extent allowed by law. Despite all efforts to ensure that the information presented in this article is current, reliable, and comprehensive at the time of publication, it should not be used as the sole basis for making financial, investment, real estate, or legal decisions. Furthermore, this information is not a replacement for professional advice tailored to your unique personal circumstances, and we disclaim any responsibility for decisions made using this information.
The post #Closedwith99.co: 3-bedroom penthouse @ Veranda sold for S$2.88 million appeared first on .
