Leedon Residence hits new high of $2,909 psf

SINGAPORE (EDGEPROP) - Among condos that hit a new psf-price high over the period of Nov 14 to 26, Leedon Residence topped the list with the sale of a 2,131 sq ft, three-bedroom apartment on Nov 17. The sale price is $6.2 million, which works out to $2,909 psf. Based on caveats lodged, the eighth-floor unit was purchased by the seller from the developer in October 2012 for $5.25 million ($2,463 psf), which means they netted a gross profit of about $952,000 on the latest transaction.

This marks the first time a unit at Leedon Residence has changed hands for over $2,900 psf. The previous psfprice high at the development was $2,776 psf, from the resale of a unit on Feb 14. The 2,648 sq ft apartment fetched $7.35 million.

The new high at Leedon Residence was achieved with the sale of a 2,131 sq ft apartment for $6.2 million on Nov 17 (Picture: Samue Isaac Chua/The Edge Singapore)

Leedon Residence is a freehold development along Leedon Heights in prime District 10. Completed in 2015, it has 381 units spread across 12 residential blocks. Units comprise a mix of two- to five-bedders ranging between 1,044 and 4,704 sq ft. There are also “garden suites” on the first floor comprising three- to five-bedroom units measuring 3,789 to 8,051 sq ft, along with three- to five-bedroom penthouses spanning 3,283 to 7,718 sq ft.

Apart from the units sold in November and February, the development has seen three other resale transactions this year. In January, a 2,659 sq ft unit was sold for $7.2 million ($2,708 psf), while in March, a 3,746 sq ft apartment fetched $9.5 million ($2,536 psf). In May, a 1,044 sq ft unit changed hands for $2.88 million ($2,758 psf).

Another District 10 development, Botanika, also achieved a new psf-price high during the period in review, when a four-bedroom unit on the third floor measuring 2,906 sq ft fetched $7.6 million, or $2,615 psf, on Nov 16. The seller, who bought the unit in October 2021 for $6.5 million ($2,237 psf), raked in a gross profit of $1.1 million on the sale.

The new psf-price high comes less than three months after the previous record set on Aug 28, when a 2,099 sq ft unit was sold for $5.32 million ($2,535 psf). It is also the first time a unit at the development has fetched over $2,600 psf.

Botanika hit a record high of $2,615 psf when a 2,906 sq ft unit was sold for $7.6 million on Nov 16 (Picture: The Edge Singapore)

Botanika is a boutique condo on Holland Road that was completed in 2014. The development consists of 34 freehold units, with two-, three-, fourand five-bedders between 1,098 and 3,746 sq ft.

Another development that hit a new psf-price high was Gilstead Two. This was achieved with the sale of a 904 sq ft unit on the 25th floor for $2.27 million, or $2,508 psf, on Nov 16. The seller purchased the two-bedroom unit for $1.79 million ($1,978 psf) in May 2017, which means they made a gain of about $479,000. The transaction beats the previous psf-price high of $2,365 psf established in April 2012, when a 775 sq ft unit changed hands for $1.83 million.

Gilstead Two is a freehold condo on Gilstead Road, off Dunearn Road in District 11. It is a six-minute walk away from the Newton MRT Interchange Station for the Downtown and North-South Lines. Built in 2014, it has 110 units housed in a single 34-storey tower. Units include one- and two-bedders between 775 and 1,572 sq ft. There are also two duplex penthouse units measuring 2,874 sq ft.

No new psf-price lows were recorded during the period in review

Check out the latest listings for Leedon Residence, Botanika, Gilstead Two properties