A duplex penthouse at The Adara, a freehold development in District 15, was put on the block at Knight Frank’s property auction on June 26. An owner’s sale, the 1,378 sq ft unit had a guide price of $2.3 million, which translates to $1669 psf on the floor area.
The two-bedroom unit spans the fifth and sixth floors. The lower level features a living and dining area, an en suite master bedroom, and a common bathroom. The kitchen is also on the lower level and comes with a household shelter. A staircase leads to the upper floor, which offers a second bedroom and an open-air terrace. The penthouse will also be sold with an existing tenancy, which ends in August next year.
The 1,378 sq ft unit at The Adara is going for $2.3 million ($1669 psf).
Based on URA caveats, there have only been a handful of resale transactions at The Adara lately. The most recent was the sale of a 915 sq ft, two-bedroom unit on the second floor that changed hands for $1.62 million ($1,771 psf) when it was sold in November 2023.
Another two-bedroom unit, measuring 850 sq ft on the third floor, was sold for $1.49 million ($1,752 psf) in October 2022. Prior to that, a 1,066 sq ft three-bedroom unit on the same floor changed hands for $1.79 million ($1,678 psf) in December 2021.
A compilation of resale data by EdgeProp Singapore indicates that prices at The Adara have been on a long-term upward trend, moving from about $1,185 psf in June 2016 to $1,580 psf in June 2021. The average resale price at the development today is approximately $1,770 psf.
Meanwhile, the freehold development has seen steady rental demand. Six rental contracts were lodged last year, ranging from a monthly rent of $3,600 ($4.93 psf) for a one-bedroom unit to $4,800 per month ($3.56 psf) for a two-bedroom unit. So far, only one rental contract has been recorded this year — a one-bedroom unit that was leased for a monthly rate of $3,530 ($4.71 psf) in March.
Based on historical rental data compiled by EdgeProp Singapore, the estimated average rent at The Adara is about $4.40 psf per month, with most landlords raking in an average rental yield of 3%.
A preview of EdgeProp Buddy to showcase the resale price movement at The Adara. (Graph: EdgeProp Singapore)
Completed in 2010, Adara is a 16-unit condo located along Chapel Road, just off East Coast Road and Marine Parade Road. It is near popular shopping destinations such as Parkway Parade, i12 Katong and Katong Plaza, along with a wide array of dining options along East Coast Road. The development is also well-served by public transport, with Marine Parade and Marine Terrace MRT Stations on the Thomson-East Coast Line nearby.
Four primary schools lie within 1km of The Adara: CHIJ (Katong) Primary at Martia Road, Haig Girls’ School at Koon Seng Road, Tanjong Katong Primary School at Seraya Road and Tao Nan School at Marine Crescent. Other nearby options include Ngee Ann Primary School at Marine Terrace and St Stephen’s School at Siglap View.
