_Knight Frank Singapore offers exclusive listing at the luxurious St. Regis Residences
Knight Frank Singapore, as the sole marketing agent, is pleased to offer an exclusive and rare listing at the luxurious St. Regis Residences. The subject property is a single level 4-bedroom sky suite measuring approximately 563 square metre (sqm) or 6,060 square feet. It will be offered as a receiver sale at Knight Frank Singapore’s Auction from 1.30pm on Thursday, 8 December 2022.
St. Regis Residences is located at the eastern junction of Tanglin Road and Tomlinson Road, off Orchard Road, outside the traffic restricted zone of the Central Business District, and about five kilometres away from the city centre. The immediate locality is a pleasant residential area comprising mainly private apartment condominium developments such as the Cuscaden Residences, The Tomlinson, The Boulevard Residences and Four Seasons Park, amongst others. The subject development is located near the tourist and shopping belt of Orchard Road. Prominent developments in the vicinity include St. Regis Hotel Singapore, Tanglin Mall, Tanglin Shopping Centre, Four Seasons Hotel, The Regent Singapore and Orchard Rendezvous Hotel Singapore. The Orchard Mass Rapid Transit (MRT) and upcoming Orchard Boulevard MRT stations are mere minutes’ drive from the subject development.
Ms Sharon Lee, Head, Auction & Sales said, “This listing is an excellent opportunity for both occupiers and investors to own a single-storey sky villa in the core central region (CCR). The most recent transaction, two months ago, within the development was on Level 20 at S$10.468 million, for a 4,047 sq ft that went for S$2,586 psf. This is relatively more affordable than many other residential developments in the immediate vicinity.”
Prices of non-landed homes in the CCR increased 2.3% quarter-on-quarter in the third quarter of 2022. The proportion of non-resident homebuyers in the CCR also grew from 9.0% in Q1 2022 before air travel lanes opened in April, to 11.1% in Q3 20222. Slightly more High-Net-Worth-Individuals (HNWIs) purchased private homes for both owner-occupation and investment opportunities in the CCR notwithstanding the Additional Buyer’s Stamp Duty (ABSD) for foreigners.
To date, this is one of the only four luxury-branded residences in Singapore affiliated with an established hotel brand, beside Pullman Residences, The Ritz-Carlton Residences and The Residences at W Singapore. On top of basic condominium facilities, residents get to enjoy 24/7 concierge services and on-demand services such as housekeeping and childcare services.
Lee added, “Singapore has already witnessed some increase in foreign buying interest with international borders opening earlier this year. We anticipate a further pickup in demand in tandem with the increase in cross-border travel, and Singapore continues its strong standing among the affluent. A flight-to-safety might ensue among the globally mobile wealthy. Considering the existing geopolitical tensions around the world, Singapore offers private wealth a stable and secure haven. Hence, we can expect strong interest for this listing.”
View from the apartment
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