Read more Costs of new condos may rise on the rear of past years’ sales.

SINGAPORE – A 1,561 sq ft unit in Draycott Eight along Draycott Park at District 10 will soon be set up for auction on Sept 25. This is an operator’s economy with a guide price of $2.38 million ($1,524 psf), based on Edmund Tie, which will be managing the auction.

The 21st-floor unit includes two bedrooms, and overlook the joys of Goodwood Park and its own black-andwhite bungalows, states Joy Tan, head of sales and auction in Edmund Tie. Residents of this unit will also be served with a private elevator, and will probably be greeted with a spacious living area with doublevolume ceiling elevation on entering, Tan states. The device can be north-south facing.

“In the center of the evolution is a 16,000 sq feet, two-storey, preserved colonial house that has been transformed into a contemporary and distinctive clubhouse, among the biggest clubhouses in Singapore,” she adds.

The device was initially bought at $3.58 million ($2,294 psf) in May 2007.

“With costs in Districts 9 and 10 increasing to between $3,000 and $4,000 psf, this device still provides buyers a broad two-bedroom unit at under $2,000 psf, rather a rarity in the market today,” says Tan.

According to caveats lodged with URA, leasing for two-bedroom units of equal size ranges from $6,000 to $6,200 per month.

Draycott Eight, finished in 2005, includes 136 units onto a 99-year leasehold. It’s also in proximity to health institutions like Gleneagles Hospital and Mount Elizabeth.

The latest trade at Draycott Eight was to get a 2,896 sq feet, four-bedroom unit on the floor.