A remarkable five-bedroom unit on the 55th floor of Skywaters Residences has been sold for an impressive $30.87 million, equating to $5,841 per square foot. This transaction represents a significant milestone in the real estate market and reflects the continuing demand for luxury properties in Singapore. The deal was officially recorded in a caveat lodged on June 19, marking a noteworthy event in the skyline of Tanjong Pagar.
Spanning a substantial 5,285 square feet, the unit offers ample living space along with luxurious amenities that are synonymous with high-end urban living. The buyer, a Singapore Permanent Resident believed to be a Chinese national, will be subject to an additional buyer’s stamp duty (ABSD) of 5%. This factor further emphasizes the evolving landscape of property ownership in Singapore, where foreign buyers often face additional costs in their pursuit of upscale residences.
Skywaters Residences is poised to become Singapore’s tallest tower upon its completion in 2028. The skyscraper, with a height of 305 meters, will feature a total of 190 units distributed across the 27th to 63rd floors. The architectural design of the tower not only aims to redefine the skyline but also to enhance the living experience of its residents through state-of-the-art facilities and stunning panoramic views of the city.
This sale is noteworthy not just for its price but also for its implications in the high-end property market. It is indicative of the strong interest from affluent buyers, particularly those looking to invest in prime real estate in Singapore. The significant price per square foot reflects the desirability of the location, amenities, and the prestige associated with living in one of the city’s tallest buildings.
The demand for luxury units in Singapore has been fueled by a combination of factors, including the city-state’s robust economy, a stable political environment, and its reputation as a global financial hub. As the residential market continues to evolve, high-profile sales like this one underscore the enduring appeal of luxury real estate among both local and international buyers.
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News Source: Edgeprop
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