SINGAPORE (Mar 19): Alba is a 50-unit, luxury boutique development by Far East Organization. Designed by US-based architectural firm Arquitectonica, its units are Y-shaped to maximise space and views of the surrounding Cairnhill district. Each unit comes with private lift access. Completed in 2015, the project is more than 80% sold so far.

The latest transaction at the freehold Alba was for a 1,905 sq ft, three-bedroom unit on the second level. The unit changed hands for $4.2 million ($2,204 psf) on March 1, according to a caveat lodged then. The previous owner had paid $3.85 million ($2,021 psf) for the unit when the project was first launched in October 2009.

This marks the first transaction in Alba this year. The last transaction was in August last year when a 2,110 sq ft, four-bedroom unit on the 14th floor was sold for $6.3 million ($2,986 psf). This is likely to be a unit sold by the developer as there was no prior caveat lodged.

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