The two units remaining in the luxury condominium Les Maisons Nassim owned by Hong Hong Kong listed Shun Tak Holdings have been sold, as per two caveats filed on June 27, 2023.
A four-bedroom home with 6,092 square feet located on the first second floor in the lower-rise five-storey freehold condominium was sold for $30.765 million ($5,050 per square foot). A four-bedroom apartment with 6,179 square feet, located on the second level immediately above, was sold to the highest bidder for $32.749 million ($5,300 per sq ft). Both deals are believed to have been handled through PropNex Realty.
With the sale of these two units, Les Maisons Nassim, with just fourteen units will become sold. The company was founded two years ago, in May 2021. The median price for units sold is $5,559 per sq ft.
But, the prices of properties sold ranged between $4,953 for the second-largest penthouse, which was 12,066 square feet that was sold at the end of March in 2022 to $59.769 million, to an all-time high of $6,210 for the biggest penthouse, which was 12,077 square feet that was bought at a price of $75 million in October 2021. The third penthouse, the smallest with 11,227 square feet was sold for $68 million ($6,057 per square foot) in October 2022.
SRI was the broker for the largest penthouse in Les Maisons Nassim for $75 million. “A 100% sold-out of this luxury condo demonstrates the high demand for luxury homes in the ultra-premium areas in Singapore,” says SRI director and founder Bruce Lye.
The luxury condo with freehold is expected to be completed in 2023. Dominic Lee, head of the luxury team at PropNex is not shocked by the number of sales. He credits it to the area at Nassim Road in the District 10 area, which is a prime location. “The Nassim address is super uncommon, not only for condos, but also for Good Class Bungalows too,” he says.
A different reason could be the massive size units, which range from the sizes of four-bedroom units starting at 6,049 square feet. “They are geared towards people interested in purchasing units for their personal use. Price is not the only factor,” Lee adds.