SINGAPORE (EDGEPROP) - The Arris, a freehold boutique condo, topped the list of condos that achieved new psf-price highs for the week of July 26 to 30. The development hit a record $2,398 psf when a 990 sq ft, two-bedroom apartment changed hands for $2.38 million, according to a caveat lodged on July 30.
The seller of the second-floor unit had purchased it as a resale unit for $1.87 million ($1,888 psf) in February 2021. This means they made a gain of $505,000 on the deal.
Freehold condo The Arris achieved a record psf-price of $2,398 from the sale of a 990 sq ft two-bedder for $2.38 million on July 30 (Photo: Samuel Isaac Chua/EdgeProp Singapore)
The July 30 transaction is the first time a unit at The Arris had crossed the $2,300 psf threshold. It beats the previous psf-price high of $2,282 psf, when a similar-sized two-bedder was sold for $2.26 million in March last year.
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The 63-unit The Arris is located on Yan Kit Road, off Cantonment Road in District 2. It was completed in 2022 and features a mix of one- to three-bedroom units occupying between 667 sq ft and 1,464 sq ft. Based on caveats lodged, 55 units (87%) at the development have been taken up since its launch in 2021, with units sold at an average price of $874 psf.
The Arris is within walking distance of Cantonment Primary School and is also close to eateries and shops in the surrounding Tanjong Pagar and Everton Park areas.
Another condo that recorded a new psf-price high was The Panorama. This was achieved when a 1,012 sq ft, three-bedroom unit on the 13th floor fetched $2.18 million on July 26, which works out to $2,155 psf. The seller had bought the unit at about $1.27 million in May 2015, making a net gain of $910,688.
The Panorama hit a new high of $2,155 psf, when a 1,012 sq ft, three-bedroom unit on the 13th floor fetched $2.18 million on July 26 (Photo: Samuel Isaac Chua/EdgeProp Singapore)
The new high beats The Panorama’s previous record of $2,140 psf, which was set on April 5 when a 1,561 sq ft, five-bedroom unit on the 18th floor changed hands for $3.34 million. The seller had bought the unit for $2.46 million, or $1,573 psf, in February 2021. This means they made a net gain of $885,000 on the transaction.
The Panorama is a 99-year leasehold condo along Ang Mo Kio Avenue 2 in District 20. The development was completed in 2017 and has 698 units spread across two 20-storey towers and four 17-storey towers. The units comprise one- to five-bedders ranging between 431 sq ft and 2,411 sq ft. The condo is within walking distance of Mayflower MRT Station on the Thomson-East Coast Line and the CHIJ St Nicholas Girls’ Primary and Secondary Schools.
The condo has seen a total of 17 resale transactions so far this year at an average price of $1,980 psf. In comparison, 39 units changed hands last year at an average price of $1,901 psf.
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Verdale also achieved a new psf-price high of $2,041 psf during the period in review. This comes with the sale of a 1,012 sq ft, three-bedroom unit on the third floor for $2.07 million on July 26. The seller had purchased the unit from the developer at $1.75 million, or $1,729 psf, in September 2020. This means the seller made a gross profit of $315,100 on the sale.
Verdale recorded a new psf-price high of $2,041 psf with the sale of a 1,012 sq ft, three-bedroom unit on the third floor for $2.07 million on July 26 (Photo: CSC Land)
The new psf-price is just 0.2% higher than the previous record of $2,037 psf that was achieved on June 13, when a 614 sq ft two-bedder on the fifth floor changed hands for $1.25 million.
Verdale is a 99-year leasehold condo along De Souza Avenue, off Jalan Jurong Kechil, in prime District 21. Completed in 2023, the development has 258 units across seven 5-storey residential blocks. The units are a mix of one- to four-bedders ranging from 463 sq ft to 1,410 sq ft. The development also has 12 duplex penthouses with sizes from 1,518 sq ft to 1,873 sq ft.
The condo, which launched for sale in September 2020, is fully sold. It has seen four transactions to date this year with an average price of $2,011 psf. One of the transactions was a sub-sale that took place in January, while the remaining three units were resale transactions.
No new psf-lows were recorded during the period in review.
Recent transactions at Verdale as tabulated by EP Buddy
Check out the latest listings for The Arris, Verdale, The Panorama properties