Four-bedder at freehold Honolulu Tower going for $16.5 mil
A distinctive feature of the property’s layout is a garden terrace that wraps all over fifty percent of the unit. This outdoor balcony is accessed from the living-room, private family hall, master bedroom, and one of the other bedrooms. All the bedrooms are en suite. The real estate also features separate living and dining rooms, in addition to a covered cooking area that point to a yard and an assistant’s room.
Based on cautions lodged, resale transactions at Honolulu Tower are irregular. The most recent transaction occurred in June 2021, when a four-bedder on the seventh ground was cost $10.8 million ($1,855 psf). Yet another four-bedroom unit on the 12th level obtained $9.1 million ($1,563 psf) in July 2019.
Robertson Opus Frasers Property and Sekisui House
The apartment is near to several popular schools, amenities and the general public transport network. According to OneMap, the development is within 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. Additionally, Honolulu Tower is located in between 2 MRT interchanges– Stevens on the Downtown and Thomson-East Coast Lines, along with Newton on the North-South and Downtown Lines.
Tan expects the unit is going to attract purchasers on the lookout for large-size houses to accomodate family members wants, in addition to those that plan to send their kids to any one of the neighboring schools.
It is rare to find a large-sized house just like this on the marketplace today, as current new launch properties seldom provide units of this size, states Tricia Tan, supervisor of auction and sales at Knight Frank. “This unit feels very much like a ‘bungalow in the sky’ given its large design,” she states, adding that the demand for large-sized high-end units currently outpaces the available resale source in the marketplace.
“Honolulu Tower is a popular property development given its freehold period and place inside an affluent residential area near to Newton and Balmoral Road. It’s relative low-density with only 30 exclusive four-bedroom units over a huge site area of about 68,864 sq ft also makes it an attractive project,” sats Tan.
Regardless, resale prices at Honolulu Tower climbed up from around $940 psf in May 2010, to around $1,810 psf a 10 years later. Based upon a compilation of resell signs by EdgeProp Singapore, the condominium’s ordinary price today is around $1,855 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 a guide cost of $16.5 million, which translates to $2,834 psf on the floor area.
According to Knight Frank, the unit up for sale is presently leased for around $25,000 each month and the tenancy will finish in November 2026. There were six rental deals lodged at Honolulu Tower last year, with rents varying from $30,000 (or about $10 psf per month) to $12,000 ($4 psf per month).
Finished in 1985, Honolulu Tower is a freehold development on Bukit Timah Road in prime District 10. There are just 30 units within the 16-storey project, that includes four-bedroom units of 5,823 sq ft and a set of 10,312 sq ft penthouses.
The newest estate advancement in the spot is Perfect Ten, a 230-unit project started for sale in 2021. The luxury project was completely marketed last June at a common cost of about $3,400 psf. Other real estate developments in the area include Wing On Life Garden on Bukit Timah Roadway, where deal costs average $2,255 psf, and Palm Spring on Ewe Boon Roadway, which sees an average rate of $2,284 psf.
