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No budget for a S$100m super penthouse? There're 5 others in Singapore up for sale
OUT of the 11 super penthouses around the world now on the market, six are in Singapore, based on listings from 2016 to April 2019, List Sotheby's International Realty (List SIR) said on Wednesday.
The biggest of these "super penthouses" in Singapore is in the 950 ft high Wallich Residence in Tanjong Pagar, with a floor area of 21,108 square feet (sq ft). Spanning levels 62 to 64, the property has five bedrooms, a family room, a viewing deck, a private garden, a 12 metre pool, a cabana, a jacuzzi, an entertainment room and bar facilities.
While developer GuocoLand said the price for the super penthouse is "upon application", ERA Realty's head of research and consultancy Nicholas Mak said the property could reasonably go for over S$100 million, due to the scarcity of super penthouses in the market, bucking the notion that the "bigger the floor area, the lower the price per sq ft (psf)".
Wallich Residence has one super penthouse and four penthouses. In June 2018, one of these penthouse units located on the 58th floor was sold for S$16 million or S$4,560 psf.
The next largest in Singapore is in The Marq, which has a floor area of 17,642 sq ft, followed by Reflections At Keppel Bay, Hilltops, Boulevard Vue and Concourse Skyline. Both The Marq and Hilltops are developed by SC Global, while Reflections At Keppel Bay, Boulevard Vue and Concourse Skyline are developed by Keppel Land, Far East Organization and Hong Fok respectively.
Super penthouses, as defined by the luxury brokerage, are those which are 10,000 sq ft and above. Those located in "super tall" buildings of 1,000 to 1,900 ft, found in major global cities, tend to attract more attention and set record prices due to spectacular views offered, List SIR said.
Penthouses are apartments or luxurious flats located at the top of tall buildings. Unique characteristics usually include being the one and only residence on the top floor, a dedicated lift and lift lobby, 360-degree spectacular views and four or more bedrooms. Other unique features may include a space for entertainment, a boardroom for business meetings, concierge service and a private pool.
Only six super penthouse transactions took place in Singapore between 2006 and the first quarter of 2019, two of which occurred in the last four years.
Facebook co-founder Eduardo Saverin made news in September 2017 when he bought a 10,300 sq ft, duplex penthouse at the top of the 36-storey Sculptura Ardmore by SC Global Developments for S$60 million, making it the most expensive apartment in Singapore since Sun Tongyu, co-founder of Alibaba forked out S$51 million for a 13,874 sq ft penthouse at neighbouring Le Nouvel Ardmore in 2015.
There were also three transactions for Goodwood Residence in 2014, 2013 and 2010, and one for Marina Bay Residences in 2006.
Globally, there are 11 super penthouses currently on the market based on listings, the largest in floor area is the 37,674 sq ft five-storey Tour Odeon Tower Sky Penthouse in Monaco, slated to be one of the most expensive luxury homes in the world with an asking price of US$335 million. Others are located in Miami, New York and Auckland, New Zealand.