Singapore Property | According to Caveats on 18 December 2017, three penthouses at the prestigious The Creek @ Bukit located at Toh Tuck Road were sold. A four-bedroom 1,668 sqft penthouse was sold for about $2.47 million achieving the highest price range of psf $1,480. The remaining two four-bedroom units each measuring 1711 sqft were sold for about $2.47 million and $2.43 million with a psf of $1442 and $1420 respectively.
The selling of the three penthouses was done after Chiu Teng Group sold five units within the residences. Four of the five units were three bedroom mansionettes located at the ground floor of the development. The three units had a floor range of between 1615 sqft and 1658 sqft. The other remaining unit was a four-bedroom unit with a floor area of 1668 sqft. The four mansionettes price range was between $2.33 million and $2.51 million. The remaining penthouse a four-bedder had a price range of $2.49 million making it the second highest price of all the five units.
Caveats on the URA Realis records show that the 8 sold units at the Creek @ Bukit brought the total number of units sold to 253 units representing an impressive 97% of the total. The records further show that in 2017, 101 units were sold in comparison to 43 units in 2016, 25 units in 2015 and a further 42 units each in 2013 and 2014.The project was launched in 2013 to redevelop the former Green Lodge.
The high number of sales at the Creek @ Bukit is a result of the proposed development of the upcoming Daintree Residences on a site of 201,287 sqft sold under the Government Land Sales Program in the first half of 2017 for $265m. The project will be done by Malaysian property group S P Setia and is located adjacent to the Creek @ Bukit residences. The project is set to house about 327 units when launched in the first half of 2018.
The Collective Sale Development process has hugely transformed the Toh Tuck Road area. The process has brought to life magnificent residential projects including the 31 unit Kismis Residences.
Kismis View with 43 units is another upcoming project 300 m from Kismis Residences and Tranquilia at Kismis. Its tender was opened on November 22 and closes on Jan 17 and it has a reserve price of $102m
Another project is Goodluck Garden of 210 units that is still having several details fine-tuned before the full collective sale is done.