On December 8, an auction will be held for the Bayshore Park apartment’s 2,196 square feet
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A four-bedroom home in Bayshore Park, situated near Bedok South Avenue 1 in District 16 is set to go on auction on December 8 at a cost that is $2.69 million. The sale is by the owner according to Karen Ker, assistant manager at Knight Frank, which is conducting the auction.
It marks the third consecutive time that the property will be offered for auction. The property was initially listed to auction through Knight Frank on Oct 20 The auction was then rescheduled on the 17th of November.
The property includes an area of 2,196 sq ft that’s why the estimated cost is $1,225 per square foot. The 24th floor has unobstructed sea views and views of East Coast Park.
The house includes three bedrooms with en suite bathrooms as well as an additional bedroom. shared bathroom with a living area that is spacious and a separate dining room close to the kitchen. Ker says that the unit is equipped with an expansive balcony with stunning views and plenty of lighting and ventilation.
Bayshore Park
The lease is 99 years old as of 1982. This means that it has 59 more years on the lease. The project was completed in 1986. condominium consists of four 32-story towers and three 10-storey ones. The total is 1,093 units in the development, consisting of one- to five-bedroom units that measure between 624 and 3,800 square feet. Ker says the owners of Bayshore Park have made two joint sales in the past The last one took place around 10 years ago.
Bayshore Park has seen several units swap hands this year. Based on caveats that were lodged with URA 17 units were sold since the beginning this year. Most recent sales were on October 21 the 1,173 sq. ft. unit located on the 22nd floor sold at $1.42 million ($1,210 per square foot) and the 2,239 sq ft unit on the 27th floor auctioned off at $2.6 million ($1,161 per sq ft). On June 15th, a 936 square area unit was sold at $1.26 million, or $1,348 per square foot that was a record highest the price per square foot. It was the first time a unit sold at the development reached the $1,300 threshold since January 2013.
The latest price rise for psf is amidst a steady rise in prices for transactions for the development over the past two years. According to the data collected through EdgeProp, the EdgeProp Singapore research tool, the price for resale deals in Bayshore Park has risen to $1,200 per square foot at the end of October, which is an increase of 25% rise compared to the average transaction price of $960 psf recorded in 2020.
Knight Frank’s Ker states the Bayshore Park, which sits on the 9.3-hectare site, has many amenities that are appealing to potential buyers. It is among the largest condo sites located in Singapore and has seven tennis courts. There is also a superstore and a food court two gymnasiums , as well as the 1.8km run track.
Bayshore Park is in the area of the planned Bayshore precinct, in which the government is planning to construct 12,500 new housing units. The majority of the homes will be housing for the public, and the remaining 6,500 homes will be private homes. The new precinct , which is about 645,800 sq feet will be surrounded by the main street paved with pedestrians.
The development is located within a 10-15 to 15 minute drive from nearby malls for shopping, including Bedok Mall located on New Changi Road, Changi City Point located at Changi Business Park, Parkway Parade located at Marine Parade Road and Jewel Changi Airport. The planned Bayshore MRT Station on the Thomson-East Coast Line, slated for completion in 2024, is located within walking distance.