Park Nova penthouse hits a high of $6,593 psf, second-highest condo psf price in Singapore

The largest penthouse at Park Nova, measuring 5,899 sq ft, was sold for $38.888 million, or $6,593 psf

Freehold condo Park Nova took the top spot among the private condos and apartments that saw a new psf-price peak between Jan 11 and Jan 24. The record price resulted from the Jan 21 sale of the largest penthouse at Park Nova. The five-bedroom unit on the 20th floor, measuring 5,899 sq ft, was sold by the developer for $38.888 million, or about $6,593 psf, according to a caveat dated Jan 21 on the URA Realis database.

The largest penthouse at Park Nova, measuring 5,899 sq ft, was sold for $38.888 million, or $6,593 psf (Photo: Samuel Isaac Chua)

The transaction marks the highest recorded for a unit at Park Nova by both absolute price and psf-price, based on caveats lodged. The records for both were previously held by a 4,499 sq ft penthouse that fetched $26.026 million ($5,784 psf) when the project was first launched in May 2021..

The transaction also represents the second-highest psf-price ever registered for a condo unit in Singapore. The reigning record holder is a unit at The Marq on Paterson Hill. In 2011, a 3,089 sq ft, four-bedroom unit on the 20th floor of the development fetched $20.54 million or $6,650 psf.

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The Park Nova penthouse sold on Jan 21 is believed to be part of a collection of properties linked to the $3 billion money laundering case that is said to have been put up for sale. The penthouse was previously reported to have sold in 2021 for $34.438 million ($5,838 psf).

The unit is the third at Park Nova that the developer has sold within a month, caveats show. Three days earlier, on Jan 17, a four-bedroom apartment spanning 2,906 sq ft on the 19th floor had fetched $16.59 million ($5,708 psf). Before that, on Dec 27, 2024, another four-bedder measuring 2,896 sq ft on the 18th floor had sold for $15.99 million ($5,522 psf).

Last 10 transactions at Park Nova as of Feb 6 (Source: URA, EdgeProp Buddy)

The 54-unit Park Nova is a freehold luxury condo at the junction of Orchard Boulevard and Tomlinson Road in prime District 10. Developed by Hong Kong’s Shun Tak Holdings, the luxury condo received its temporary occupation permit last November.

The 72-unit Hill House is a 999-year leasehold development located along Institution Hill in prime District 9 (Image: Macly Group)

Another boutique high-end condo Hill House ranked second on the list of condos that set a new psf-price record during the period in review. The new price-high of $3,329 psf was achieved on Jan 14 when developers sold a 452 sq ft, two-bedroom unit on the seventh floor for about $1.5 million.

It surpasses the previous record of $3,267 psf. The former psf-price peak was set last November when developers sold a similarly sized 452 sq ft, two-bedroom unit on the fifth floor for about $1.48 million.

The record-setting sale was one of two units sold at Hill House on Jan 14. The other transaction was for a one-bedroom unit spanning 431 sq ft on the same floor that fetched about $1.39 million, or $3,224 psf.

As of Feb 3, developers have sold five units at Hill House this year at an average price of $3,105 psf. The most recent transaction occurred on Jan 26, involving a 753 sq ft, three-bedroom unit on the fourth floor that changed hands for about $2.21 million, or $2,934 psf.

Hill House is a 999-year leasehold development located along Institution Hill in prime District 9. The 72-unit condo consists of 40 one-bedroom and one-bedroom-plus-study type units from 431 sq ft to 452 sq ft, 24 two-bedroom units of 624 sq ft and eight three-bedroom apartments of 753 sq ft.

According to URA caveats, 34 units (47.2%) have been sold since its launch in 2022 at an average price of $3,064 psf. Hill House is slated to be completed in 2026.

The Continuum saw a new price high of $3,121 psf from the sale of an 872 sq ft unit for $2.72 million (Photo: Samuel Isaac Chua)

Upcoming condo The Continuum took third place among private condos that saw new psf-price peaks during the period in review. The new record of $3,121 psf stemmed from the sale of an 872 sq ft, three-bedroom unit on the 17th floor for about $2.72 million on Jan 20.

It inches past the previous record of $3,091 psf set in December 2024 when a similarly sized 872 sq ft, three-bedroom unit on the 15th floor was sold for about $2.7 million.

So far this year, the average price of units sold at The Continuum has risen compared to last year’s prices. Last year, the development saw 235 units change hands at an average price of $2,844 psf. As of Feb 3, The Continuum has sold 13 units this year at an average price of $2,947 psf.

By absolute price, the most expensive unit moved at The Continuum this year was a 1,270 sq ft, four-bedroom unit that sold for $3.73 million ($2,939 psf) on Jan 13.

The Continuum is a freehold condo on Thiam Siew Avenue, off Haig Road in District 15. The 816-unit project will consist of six residential towers across separate two plots of land, linked by a private pedestrian bridge. It offers a mix of one- to five-bedroom apartments between 560 sq ft and 2,260 sq ft.

Launched in April 2023, The Continuum has moved 552 units (67.6%) as of Feb 3. It is expected to be completed sometime next year.

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

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