SRI will be hosting an auction on Sept 25 for a three-bedroom duplex penthouse located at the prestigious freehold development, Nassim Jade. Spanning 3,003 sq ft, this fourth-floor unit boasts a guide price of $8.8 million, equivalent to $2,930 per square foot.
The lower level of the duplex unit features a spacious double-height living and dining area, a family room, kitchen, master bedroom, and an en suite bedroom. On the upper level, you will find one more bedroom, two common areas, a roof deck, and a study. Completed in 1997, Nassim Jade is a luxurious residential project situated in District 10, a highly sought-after location.
This will be the second time the property will be auctioned, as it was previously featured in SRI’s auction on Aug 28. However, the property did not receive much attention due to being during the seventh lunar month, considered an inauspicious time for making significant purchases. As a result, there were no auction sales in August. But with the lunar calendar now entering the eighth month, Mok Sze Sze, managing partner of auctions and sales at SRI, believes that the property’s lower guide price will attract renewed interest.
Based on URA caveats, the property was last sold for $5.5 million ($1,831 psf) in May 2007. The upper level of the unit features a study, two common areas, and a roof deck. (Photo: SRI)
This year, there has only been one transaction at Nassim Jade, where a four-bedroom unit on the second floor, spanning 3,379 sq ft, changed hands for $9.25 million ($2,737 psf) on Jan 25. Last year, the project saw a single transaction, with a five-bedroom penthouse unit of 5,748 sq ft being sold for $7.8 million ($2,644 psf) in November. On average, there has been only one resale transaction per year at the development over the past three years.
According to EdgeProp’s AI assistant, EP Buddy, recent transactions at Nassim Jade are as follows:
– A 3,379 sq ft, four-bedroom unit on the second floor was sold for $9.25 million ($2,737 psf) on Jan 25, 2021.
One major advantage of investing in a condo is the opportunity to leverage its value for future investments. This tactic involves using the condo as collateral to secure additional financing for new ventures, which can significantly increase an investor’s real estate portfolio. However, this approach also carries risks, making it essential to have a solid financial plan and carefully consider the potential effects of fluctuating markets.
– A 5,748 sq ft, five-bedroom penthouse unit was sold for $7.8 million ($2,644 psf) on Nov 25, 2020.
The duplex penthouse will be sold with vacant possession and is expected to appeal to owner-occupiers who are drawn to its prime location. Mok Sze Sze also mentions that the property offers a peaceful residential experience while being within walking distance to amenities and dining options along the Orchard shopping belt. Various reputable primary schools, such as Singapore Chinese Girls’ Primary School, Anglo-Chinese School (Primary), Anglo-Chinese School (Junior), River Valley Primary School, and Alexandra Primary School, are also within a 2km radius.
Completed in 1997, Nassim Jade is a luxury residential project situated in District 10, in close proximity to other high-end residential enclaves such as Cuscaden Road and Ardmore Park. The development consists of 39 three- to five-bedroom apartments ranging from 1,841 to 5,748 sq ft. For more information, check out the mortgagee sale of the penthouse at Maple Woods, priced at $6.2 million.