12 Feb '18, 2am

District 10 freehold condo sold en bloc for 13% above reserve price

Between $2.78 million to $11.5 million. That’s how much owners of the 77 units at City Towers will receive after their development sold for $401.9 million last week. $401.9 million price tag 13% higher than reserve price The $410.9 million sale price, 13% more than what the owners were asking for, is a sign that the flow of en bloc success stories have not yet waned. Developers are keen on prime lots and are willing to pay. Analysts have termed the bidding for this plot “aggressive”. The 17-story freehold district 10 City Towers currently consists of apartments, maisonettes, a penthouse and a shop unit. The land rate of $1,840 psf ppr is higher than that of the neighbouring Crystal Tower which also sold en bloc last November. Developers are however attracted to the location of the plot. It is situated near the Newton and Stevens MRT stations and a number of renowned school...

Full article: https://www.iproperty.com.sg/news/district-10-freehold-co...

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