By Romesh Navaratnarajah:The highly-debated presidential suite at CityLife@Tampines executive condominium (EC) was sold for S$2.05 million just two hours after bookings began on Saturday morning, The Straits Times reported.
The 4,349 sq ft penthouse was bought by Ms C. Koh on behalf of her younger brother and his wife who are based in the US. The couple is set to return to Singapore next year. However, Koh's 56-year old businessman father will pay for the bulk. "My son can't afford it, he's only a salaried employee," he said.
Setting a record for an EC unit, the S$2.05 million sale price works out to around S$470 psf and rises to S$744 psf, if only liveable space is factored in.
Located on the 15th floor, the penthouse also comes with a 1,600 sq ft roof terrace. Ms Koh said that their seven-member family will live in the unit.
Developed by a consortium comprising Amara Holdings, Kay Lim Holdings and SingXpress Land, CityLife (pictured) comprises 514 units, including 16 penthouses and six skysuites with open terraces.
By noon on Saturday, all the skysuites and penthouses had been snapped up and 65 percent of the EC was sold by the end of the day. Most buyers were drawn to the project because of its ideal location in a mature estate and proximity to amenities. Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email email@example.com Related Stories: EC unit to eclipse S$2m mark Strong interest in Forestville ECEchelon to commence sales this week