The Bartley Road in Singapore is holding a beautiful 78-unit freehold condominium, named Sun Rosier. Recently, the owners of this development decided to put it out for sale, opting for a collective sale and a price tag of $235 million. To their surprise, the Sun Rosier Condo got them a sum that was 15% higher than what they initially requested, reaching the amazing sum of $271 million. This means that each of the owners of this development is ready to make their bank accounts bigger with sums that range anywhere from $2.86 million and $4.77 million. But, as they stated, the competition between bidders was tight, as the offers were very close to one another.
There were 4 different bidders that wanted to get this property, 3 of them bidding with sums that had slight differences, which means that they did their best to get a good price for the property. But the bid that won the Sun Rosier did not belong to a single buyer, as it was a joined force between two players that wanted to make sure that this condominium gets in the right hands. 50% of the bidding power came from the SingHaiyi Properties, which is a unit of SingHaiyi Group, a well-known real estate developer, and 50% came from Huajiang International. Also, it is known the fact that the later is under the control of Gordon Tang, a Chinese real estate tycoon, and his wife, which can also significantly influence the shareholders belonging to the SingHaiyi Group.
The marketing agents in charge of this transaction stated that this particular sale exceeded the price of a similar unit sold at the beginning of this year. More precisely, the price the Sun Rosier Condo got was 108% higher than the price of the previously mentioned unit. So what makes the sale of this particular Singapore condo close in such a successful manner? One of the most important factors that influence the success or the lack of it in a property sale is its location. The Sun Rosier Condo is conveniently located in the proximity of the Bartley MRT station. Practically, the residents of Sun Rosier will have to walk for 5 minutes only to reach the station, which is a great plus for this property. Also, the condominium is a freehold development, among the very few of this kind currently available on Singapore’s market, so no wonder that the bids were so close.
Not to mention that the condominium is in a beautiful residential area, a dream location for many people in Singapore that wish to find a place to live in a quiet and peaceful corner of the city, while still enjoying the advantage of being easily connected with the rest of the metropolis. Although Sun Rosier was built back in 1985, so it is not a new building, its potential was worth every penny that was paid for the condominium, as stated by Lee Nai Jia, who is in charge of the real estate market research conducted by Edmund Tie & Company.
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