Avenue South Residence Prices – Pricing & Estimated PSF
- Avenue South Residence Price is be based on a myriad of factors, including, administrative costs, legal costs, development costs, constructions costs, commissions, etc..
- Prices below will be updated on a guide price basis. Please check with our sales associates for any requests on unit prices.
- Selling prices are estimated to be between $2000-$2300psf, depending on facing, sizes, and lofts.
- Avenue South Residence TOP is expected to be 2023-2024, subject to changes.
- Refer to table below for price reference:
|Unit Type||Estimated Price|
|1 Bedroom||To be updated|
|1 Bedroom + Study||To be updated|
|2 Bedroom||To be updated|
|2 Bedroom + Study||To be updated|
|3 Bedroom||To be updated|
|3 Bedroom + Study||To be updated|
|4 Bedroom||To be updated|
|5 Bedroom||To be updated|
The tender for Silat Avenue government land site closed on April 26 with just one bid. The sole bid of $1.035 billion or $1,138 psf per plot ratio (ppr) came from Singapore-listed UOL Group in a joint venture with sister companies, United Industrial Corp and Kheng Leong Company.
The 245,975 sq ft government land site at Silat Avenue is located just off Kampong Bahru Road and has the potential to yield an estimated 1,125 residential units. “Developers tend to be cautious when it comes to bidding for sites with more than 1,000 residential units”, notes Desmond Sim, CBRE head of research for Singapore and South East Asia.
Price Bid History
- Silat GLS
- Avenue South Residence Silat Avenue 99-year leasehold plot has a maximum permissible gross floor area of 84,551 square metres or 910,099 sq ft, which means the tender price is equivalent to around S$1,137 per square foot. An estimated 1,125 housing units can be built while about 450 sq m can be set aside for commercial space on the ground floor.
- The site is almost similar in size to a residential plot in Queenstown that was clinched by China’s Nanshan Group and Hong Kong’s Logan Property for S$1.003 billion, or S$1,051 psf, in May last year.
- “Silat Avenue is an appealing site within two kilometers from the Central Business District, and we think the underwhelming tender outcome could be due to the large size of the site and relatively untested location, away from MRT stations”, said Ms Song.
- She estimated a breakeven price of S$1,600 psf and a selling Avenue South Residence price of between S$1,800 and S$1,900 psf.
For Avenue South Residence Project Details, please click here.