Ever since 2010, various rounds of cooling measures were introduced to Singapore’s property market to curb the booming home prices, with the Additional Buyer’s Stamp Duty (ABSD) being the most impactful of all for foreigners – hitting them with an additional 20% charge (based on the purchase price) when they acquire a private residential property in the independent sovereign state.
Recently, the high-end luxury condo segment is showing strong signs of recovery, with many of the newly completed projects such as Marina One Residences and New Futura experiencing an explosive pick up in sales for the past year.
Based on stats and references from the property portal, Wallich Residence is one of the most expensive non-landed luxury homes sold in Singapore.
In July this year, it is reported that its ‘super penthouse’ is sold to British billionaire, Sir James Dyson for a whopping S$73.8 million. This transaction has made him the owner of Singapore’s most expensive condominium.
Well-known as Singapore’s tallest residential building, Wallich Residence is part of the 64-storey tall Tanjong Pagar Centres which was developed by award-winning developer, GuocoLand and completed back in 2016.
The super penthouse at Wallich Residence spans across 3 levels (also known as a triplex) from 62nd to the 64th floor and has a total built-in strata area of 21,108 square feet (sq ft) – inclusive of 6,577 sq ft of void area.
It is equipped with a private pool and located in the heart of the city-state’s financial district.
According to reports, it seems like Sir James Dyson got a good deal for the super penthouse at Wallich Residence in Singapore as it’s more than 30 percent lower than the initial price tag of S$108 million set by GuocoLand when it was first released for sale during mid-2017.
Singapore is an island of well-heeled stability that attracts the super-rich from its less-developed Southeast Asian neighbours, as well as multi-millionaires from mainland China.