The fully sold Martin Place Residences obtained its temporary occupation permit last September in the year 2011. Real estate agents and property agents are already milling about this place and selling at the secondary market.
There were 2 transactions over the week from September 13 to 20 according on the caveats lodged and downloaded from URA Realis as of October 6. One of them was a sale of a 592 sq ft 1-bedroom unit which changed hands for $1.25 million or $2,111 psf. The seller purchased it for only $1.022 million or 1,726 psf last June 2009 when the project was re-launched.
In the mean time, at the neighboring block of this twin tower property, a 1,722 sq ft 3-bedroom apartment changed hands for $3.7 million or $2,150 psf. It was sold for only $2.87 million or $1,664 psf when it was purchased last August 2009 recognizing a 29.2% price gain in two years.
The riverfront neighborhood of River Valley-Mohamad Sultan-Robertson Quay became a sought-after residential area because it has a short driving distance to both Orchard Road and CBD according to the property agents. There is also a waterfront lifestyle that people can enjoy a pleasant walk along Singapore River and a numerous retail shops surrounding the area.
Projects such as these appeal to local and foreign investors, especially to those who are from Indonesia and China. According to Benson Koh, the 3-bedroom apartments in the area tend to catch good rentals.