8 min read • by Home Central
Selling The Seawind at a Record-Breaking PSF
Two months after our successful S$4.5mil Montebleu sale, Home Central reaches yet another milestone: our listing for The Seawind recently transacted at the highest record price per square foot (psf) since its launch. Here’s how.
A Sale That Made History
Developed by Bayshore Green Pte Ltd, The Seawind is a freehold condominium built on Lorong M Telok Kurau, a mere 7-minute drive to one of Singapore’s hotspots: East Coast Park. Launched in 2015, The Seawind saw the first highest transaction during its developer’s sales at S$1,960psf for a 689sqft unit. Over the years, it has maintained an average indicative price range of S$1,695 to S$1,879psf.
The Seawind comprises a total of 199 1 to 4 bedroom units, the most sought-after layout being the 1 bedroom apartments. Similarly, our recent listing is a 700sqft 1 bedder with an accompanying bathroom and balcony. It was eventually sold at S$1.39mil, translating to S$1,985.71psf, a record high for The Seawind to date.
Family-Friendly 1 Bedder Layout
The general assumption towards 1 bedroom layouts is that they are only suitable for couples or singles with the limited space it offers. That’s where our unit begs to differ. Though one of the smallest offerings available at The Seawind, its unique and grand high ceilings offer the possibility of vertical expansion. Through extensive alterations, a loft was built within the apartment – perfect for small families who need an extra bedroom for their kids.
Even for singles or couples who do not need that extra space, the addition frees up space on the ground floor to convert the area into a study room or home office.
This clever optimisation of space opens up a larger pool of buyers and proposes a lower price quantum for a living space sizing similar to that of a 2 bedroom apartment. As our unit is also located on the ground floor of the estate, the layout configuration mimics that of a double-storey private landed residential estate, making it all the more novel and attractive to potential homeowners.
Apart from its ingenious utlisation of vertical space, what else contributed to its value? For one, the beautiful renovations done to the apartment also played a part. Decked in light wood flooring with a gorgeous modern chandelier suspended from the ceiling, these careful interior choices are what give the apartment its showflat-like look, a highly-desired interior style among homeowners. The kitchen also comes equipped with an integrated oven, coffee machine, and built-in appliances; while the balcony spans the width of the living area, which can be used as an alfresco dining space, or an extension of the living room with Ziptrak blinds installed. With minimal to no renovation needed, the unit is 100% move-in ready.
Location wise, The Seawind is situated near vibrant malls in the East – a few being Parkway Parade, i12 Katong and Siglap Centre. Families get to pick from renowned schools such as Tao Nan School, Haig Girls’ School, and CHIJ (Katong) Primary Schools for their kids to attend. Also connected via the Siglap Park Connector or a 7-minute drive away is the go-to recreation spot East Coast Park for a fun weekend out.
The usual psf for condominiums in District 15 ranges from S$2,000 to S$3,000. A boutique development in the vicinity, Baywind Residences, transacted at above S$2,100psf, while 2 1 bedroom units from Seaside Residences were sold for S$2,319psf and S$2,323psf in May and June 2022 respectively. Older estates such as Silversea and The Shore Residences have an average price of S$2,000psf, even though both are over 10 years old. New launches such as the 99-year leasehold LIV@MB also reached S$2,400psf for a 2 bedroom apartment.
In comparison, our unit at The Seawind transacted at S$1,985.71psf for a freehold condominium estate, presenting a better value buy for homeowners looking to settle down in the area.
That is not to say that its relatively low psf in relation to other estates in the area is the main deciding factor for its value. A series of clever investments made into the renovations and layout change were what completed the package. However, these are but a few factors from the tip of the iceberg to consider in your property investment journey.
To learn more about how you can transact your property at record-breaking prices, reach out to us via WhatsApp at +65 9799 7955 for a free, no-obligation consultation session today.
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