5-bedroom Bukit Timah condo penthouse with 53 years lease left sells for S$10.5 million

A Bukit Timah condominium five-bedroom penthouse with around 53 years left on its lease changed hands for S$10,523,000.

Penthouse

Located in The Arcadia, the duplex penthouse has a total floor area of 6,566 sq ft (610 sq m) and a 6.2-metre high ceiling in its living area, according to 99.co.

The unit offers five bedrooms, including three en-suites.

A spiral staircase and an internal bridge connecting two of the upstairs bedrooms add to the personality of the house.

Based on photos, one of the bedrooms also features a walk-in closet.

While the development is adjacent to the Pan-Island Expressway (PIE), the unit faces the landed Watten Estate instead and thus, gets a premium view.

Residents of The Arcadia enjoy exclusivity and privacy, with only 164 units spread across 39,000 sq m of land.

The Arcadia is also connected via Arcadia Road, one of five heritage roads in Singapore.

S$7.7 million profit

The S$10.5 million price tag smashed the seller's target of S$9.9 million, bringing in a profit of S$7 million, 99.co reported.

At S$1,602 per square feet, the sale sets the record for the development.

According to its listing on 99.co, the unit was priced at S$12 million.

The previous record-setting sale for The Arcadia was also a penthouse which transacted in 2022 with a price tag of S$7.7 million and a per square feet price of S$1,025.98.

Buyer is a foreign national

While the agents of the sale did not disclose the identity of the buyer, 99.co reported that the buyers belonged to one of the five nationalities who are exempted from Additional Buyer's Stamp Duty (ABSD).

Nationals and permanent residents of Iceland, Lichtenstein, Norway and Switzerland, as well as the U.S. enjoy the same ABSD treatment as Singaporeans.

Top image via Google Maps, Penthouse Collections