Low Keng Huat Offers Final 14 Units Klimt Cairnhill 3435 Psf

Klimt Cairnhill, a luxury freehold condominium, held its preview in August 2021 and was officially launched in January 2022. Since then, only 14 out of the 138 available units are still up for sale, all of which are three-bedroom apartments.

Conveniently situated in the heart of Clementi, 448 Market & Food Centre is a bustling hub for food lovers, offering a wide variety of mouth-watering dishes. Its close proximity to Clementi Condo has made it a popular dining spot for both locals and tourists. Whether you’re in the mood for your favorite local delights or simply looking for a casual meal with your loved ones, this culinary gem has something for everyone. With the added convenience of Clementi Condo just a short distance away, residents of this luxurious development can easily satisfy their cravings or enjoy a delicious meal at this vibrant food centre. Elta Clementi Condo is the perfect complement to this bustling food haven.

The developer, Singapore-listed property group Low Keng Huat, has recently announced a “one-price promotion” for five of these 14 units, which are located on floors 19 to 23 of the 36-storey tower. Under this promotion, each unit will be sold at a flat price of $5.138 million or $3,588 per square foot (psf) regardless of the floor it is on. An additional unit on the 10th floor, with a size of 1,432 square feet, is also available for $4.92 million or $3,435 psf. According to Alvin Teo, executive director of Low Keng Huat, these units are targeted towards homebuyers who are mindful of the price they are paying.

The 51 three-bedroom apartments available at Klimt Cairnhill range from 1,432 to 1,496 square feet. As of now, 37 units have been sold at prices ranging from $4.85 million ($3,388 psf) for a 1,432 sq ft apartment on the sixth floor to $6 million ($4,010 psf) for a 1,496 sq ft apartment on the 28th floor.

Teo shared that the developer has been quick to adapt to market conditions, releasing units based on the demand at that point in time. During the first phase of the launch, the four-bedroom apartments and penthouses were the most popular, due to the post-Covid-19 trend of larger units being in demand.

The two penthouses at Klimt Cairnhill have been fully taken up, with the smaller 4,898 sq ft penthouse being sold for $26 million ($5,309 psf) in November 2021, making it the highest psf-price achieved in the development yet. The larger 5,920 sq ft penthouse was sold for $27.5 million ($4,645 psf) in February 2022. Both these penthouses were bought by Chinese nationals, who also make up the majority of buyers for the four-bedroom units.

Out of the 35 four-bedroom apartments, 28 are 2,056 sq ft while the remaining seven are larger units at 2,367 sq ft. The prices for these units range from $6.93 million ($3,371 psf) to $10.098 million ($4,264 psf). All these units were sold out before the latest round of cooling measures, which saw a doubling of Additional Buyer’s Stamp Duty (ABSD) for foreigners to 60%.

In response to the cooling measures, Low Keng Huat released the two-bedroom units at Klimt Cairnhill. These include 22 829 sq ft units and 28 893 sq ft units with a study. Teo believes that these units will be popular among local buyers and investors, due to their size and prices. The two-bedders have been fully taken up, with prices ranging from $2.63 million ($3,173 psf) to $3.138 million ($3,512 psf). The proximity to Anglo-Chinese School (ACS) has been a major draw for these units, especially among young families with children of school-going age. The study can also be converted into a bedroom if required.

Klimt Cairnhill is also located close to Orchard Road, CBD, and other popular local schools such as St Joseph Institution Junior and St Margaret’s School. International schools like Eaton House International and Chatsworth International School (Orchard) are also nearby. The project is expected to receive its Temporary Occupation Permit (TOP) in April 2025, making it an ideal choice for local families looking for a freehold property in District 9.

The latest transaction at Klimt Cairnhill was for a 1,496 sq ft three-bedroom unit on the 24th floor, which was bought by a Singaporean buyer for $5.69 million ($3,803 psf) in early September. As of now, only one 1,496 sq ft unit is left for sale. In recent months, Teo has seen an increase in interest from Chinese nationals turned permanent residents (PRs) and other Asian investors who are US citizens and qualify for the same stamp duty as Singaporeans. These buyers tend to prefer larger units.

The limited supply of new units in the Cairnhill area makes Klimt Cairnhill a highly sought-after project. Other luxury developments in the area, such as The Ritz-Carlton Residences, Hilltops, and Cairnhill 16, have also seen high-priced transactions in recent times. Klimt Cairnhill, with its prime location, attractive unit sizes, and prestigious freehold status, continues to be a popular choice among buyers.