Final Units at Klimt Cairnhill Offered from S$3,435 psf

About Final Units at Klimt Cairnhill Offered from S$3,435 psf. Low Keng Huat, a prominent developer, has introduced the final 14 units at Klimt Cairnhill. Located in District 9. This luxury condominium has gained significant interest since its preview in August 2021 and official launch in January 2022. Of the 138 freehold units, only three-bedroom apartments are still available. And the developer is offering competitive prices to appeal to prospective buyers.

One-Price Promotion for Select Units (Final Units at Klimt Cairnhill)

In a bid to attract more buyers, Low Keng Huat has launched a “one-price promotion” for five of the 14 remaining units. These five units, all 1,432 sqft in size, are located on the 19th to 23rd floors of the 36-storey tower. The flat price for these units is set at S$5.138 million, which translates to S$3,588 psf. Additionally, one last unit on the 10th floor, also 1,432 sqft, is available for S$4.92 million, or S$3,435 psf. Alvin Teo, the Executive Director of Low Keng Huat, emphasized that these prices should appeal to buyers who are particularly sensitive to the total quantum cost.

Three-Bedroom Units in Demand

Klimt Cairnhill offers 51 three-bedroom apartments, with sizes ranging from 1,432 to 1,496 sqft. Of the three-bedroom units sold, prices have varied, with a 1,432 sqft unit on the sixth floor going for S$4.85 million (S$3,388 psf). And a 1,496 sqft unit on the 28th floor selling for S$6 million (S$4,010 psf). This diverse price range reflects the appeal of the development. With its larger units being particularly sought after by foreign buyers and families.

Large Units Attract Foreign Buyers (Final Units at Klimt Cairnhill)

The development’s large penthouses have been snapped up by foreign buyers. In November 2021, a 4,898 sqft, six-bedroom penthouse was sold for S$26 million, or S$5,309 psf. Marking the highest price per square foot achieved in Klimt Cairnhill. A second penthouse, even larger at 5,920 sqft, was sold for S$27.5 million, or S$4,645 psf, in February 2022. Both penthouses were purchased by Chinese nationals, who have also been the primary buyers of the four-bedroom units.

The four-bedroom units at Klimt Cairnhill consist of 35 apartments. With 28 units at 2,056 sqft and seven larger ones at 2,367 sqft. Prices for these units have ranged from S$6.93 million (S$3,371 psf) for a sixth-floor unit to S$10.098 million (S$4,264 psf) for a 35th-floor apartment. All these units, including the penthouses, were sold before the April 27, 2023, cooling measures, which doubled the Additional Buyer’s Stamp Duty (ABSD) for foreigners to 60%.

Appeal to Families and Young Buyers

After the cooling measures took effect, Low Keng Huat shifted focus to smaller two-bedroom units, aimed at attracting local buyers. The development has 22 two-bedroom apartments at 829 sqft and 28 two + study units at 893 sqft. These units were quickly sold, with prices starting at S$2.63 million (S$3,173 psf) for a sixth-floor two-bedder and going up to S$3.138 million (S$3,512 psf) for a 32nd floor two + study unit.

The proximity of Klimt Cairnhill to renowned schools, such as Anglo-Chinese School (ACS), St. Joseph Institution Junior, and St. Margaret’s School, has made it particularly attractive to families with school-going children. Young families have been drawn to the two + study units, where the study can be used as an extra bedroom if needed.

Prime Location in District 9 (Final Units at Klimt Cairnhill)

Klimt Cairnhill’s location is a significant draw for both local and foreign buyers. The development is situated close to Orchard Road, Singapore’s premier shopping district, and the Central Business District (CBD). Additionally, international schools such as Eaton House International and Chatsworth International School (Orchard) are nearby. Making it an attractive option for expatriates and foreign buyers.

Construction at Klimt Cairnhill is ongoing, with the Temporary Occupation Permit (TOP) expected by April 2025. With the project nearing completion, Low Keng Huat expects the development to attract more local buyers who are looking for a freehold property in District 9. The latest transaction at Klimt Cairnhill was the sale of a 1,496 sqft, three-bedroom unit on the 24th floor for S$5.69 million, or S$3,803 psf, in September 2023.

Limited Availability of New Units

In recent months, interest in larger units has surged, particularly among Chinese nationals who have obtained Singapore permanent residency (PR) and Asian investors holding US citizenship. These groups benefit from the same stamp duty treatment as Singapore citizens, making larger units more appealing.

The supply of new units in the Cairnhill area is limited. Neighboring developments, such as The Ritz-Carlton Residences and Hilltops, have seen high-priced transactions. With four-bedroom units at The Ritz-Carlton Residences selling for S$16.5 million (S$5,397 psf) each. At Hilltops, a 2,874 sqft five-bedroom unit sold for S$13.049 million (S$4,540 psf) in 2023, marking the second-highest psf price at the development.

Another notable transaction in the area occurred at Cairnhill 16, a boutique development launched in 2022. Which was fully sold by August 2023. With the limited availability of new units in the Cairnhill vicinity, Klimt Cairnhill stands out as one of the last remaining opportunities for buyers seeking a prestigious address in District 9.

Conclusion (Final Units at Klimt Cairnhill)

With just 14 units remaining, Klimt Cairnhill presents an exclusive opportunity for buyers looking to invest in a luxury freehold property in Singapore’s prime district. The competitive pricing and prime location near top schools, Orchard Road. And the CBD make this development particularly attractive to both local and foreign buyers. As the development nears completion, demand is expected to rise, especially among those seeking larger, high-end residences.

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