Clermont Residence world class on price

The pool terrace in the penthouse of Clermont Residence at Tanjong Pagar.

Cheryl Ong

The Straits Times

Saturday, Apr 19, 2014

Guocoland's Clermont Residence in Tanjong Pagar has been ranked in the world's top 10 plushest high-rise apartment blocks by a website that caters to the world's rich.

Billionaire.com used a block's price per square foot and the price of its most expensive unit to come up with its premier league table.

It placed Clermont Residence, which is part of the Tanjong Pagar Centre mixed development, at No. 8, with an average price of US$2,360 (S$2,950) per sq ft (psf) and a penthouse worth US$47 million.

"The ultra-wealthy are property bulls. The average billionaire owns four homes worth a combined US$78 million, according to research from Wealth-X, intelligence firm and strategic partner of Billionaire," said the website's editor-at-large, Tara Loader Wilkinson.

London claimed the top spot with its One Hyde Park project in Knightsbridge, developed by British brothers Nick and Christian Candy and developer Waterknights. It had an average price of US$9,906 psf and a penthouse worth an eyepopping US$226.9 million.

New York came in second with its 432 Park Avenue development, by the CIM Group. It had an average price of US$6,742 psf and a penthouse price tag of US$95 million.

Hong Kong was two spots ahead of Singapore. At the Opus on Victoria Peak, a project by Swire Properties, units had an average price of US$10,740 psf while its penthouse costs US$58.6 million.

In a separate report last year, Billionaire.com ranked Paterson Hill in the Orchard Road vicinity as the fifth most expensive street in the world.

This article was published on April 17 in The Straits Times.