The Shelford hits new high of $2,601 psf

SINGAPORE (EDGEPROP) - The Shelford has topped a list of condos that reached new psf-price highs between Oct 18 and Nov 1. The new high of $2,601 psf was achieved from the resale of a 1,184 psf three-bedroom unit on the third floor of the development for $3.08 million on Oct 21. The seller had bought the unit from the developer for $1.05 million ($884 psf) in July 2002.

This is the first time a unit at The Shelford has passed the $2,600 psf mark. The new high is 4.38% higher than the previous record of $2,487 psf, set when a 1,399 sq ft, three-bedroom unit on the fourth floor was sold for $3.48 million in November 2023. The seller had bought the unit from the developer for $1.16 million ($828 psf) in July 2002.

The Shelford topped a list of condos that saw new psf-price highs between Oct 18 and Nov 1 (Photo: Samuel Isaac Chua/EdgeProp Singapore)

The Shelford is a freehold condo on Shelford Road in the Bukit Timah area in prime District 11. Completed in 2005, the condo has 215 units across seven low-rise blocks. Units comprise one- to four-bedrooms of 732 sq ft to 2,411 sq ft. The project is within walking distance of the Tan Kah Kee MRT Station (Downtown Line) and the Botanic Gardens MRT Station (Downtown and Circle Lines).

Based on caveats lodged, the development has seen only five transactions this year, with an average price of $2,206 psf. This is 3% lower than the average price of $2,275 psf from the seven transactions at the condo last year.

Second on the list of condos that reached new psf-price highs is The LakeGarden Residences, which hit a new high of $2,556 psf during the period in review. This came from the developer’s sale of a 527 sq ft, one-bedroom unit on the 18th floor for $1.35 million on Oct 29.

This is the first time the condo has passed the $2,500 psf mark. The previous record of $2,391 psf was set by the developer’s sale of a 527 sq ft, one-bedroom unit on the 15th floor for $1.26 million on July 11.

The LakeGarden Residences saw a new high of $2,556 psf from the new sale of a 527 sq ft one-bedroom unit on the 18th floor for $1.35 million on Oct 29 (Photo: Samuel Isaac Chua/EdgeProp Singapore)

The LakeGarden Residences is a 99-year leasehold condo on Yuan Ching Road in District 22. The condo has 306 units made up of one- to five-bedroom units that range from 484 sq ft to 1,550 sq ft across two 19-storey residential blocks. Four duplex penthouse units range from 2,002 sq ft to 2,260 sq ft. The project is located within the emerging Jurong Lake District and fronts the 90ha Jurong Lake Gardens. It is expected to be completed in 2027.

The development launched for sale in August last year, with the developer releasing 209 units. During the launch weekend, 71 units were sold at an average price of $2,120 psf, making up 34% of the released units and 23% of the total units. Caveats lodged as of Nov 12 show that 192 units have been sold to date at an average price of $2,139 psf.

On the other hand, Pinetree Hill saw a new low of $2,139 psf during the period in review. The new psf-price low comes with the developer’s sale of an 850 sq ft, two-bedroom unit on the 24th floor of the development for $1.82 million on Oct 26.

The new record is 0.05% below the previous low of $2,140 psf, set just two weeks earlier on October 13. This came from the sale of another 850 sq ft, two-bedroom unit on the 24th floor of the condo for $1.82 million.

Pinetree Hill hit a new low of $2,139 psf from the developer’s sale of an 850 sq ft two-bedroom unit on the 24th floor for $1.82 million on Oct 26 (Photo: Samuel Isaac Chua/EdgeProp Singapore)

Pinetree Hill is a 99-year leasehold condo on Pine Grove, off Ulu Pandan Road in District 21.

Comprising three high-rise residential towers, it has a total of 520 units. Apartments consist of one-bedroom-plus-study to five-bedroom units from 538 sq ft to 1,733 sq ft. The development is currently under construction and is expected to be completed in 2027.

The development was launched for sale in July 2023. During the launch weekend, 150 (29%) units were sold at an average price of $2,460 psf. To date, 386 units (74%) have been sold at an average price of $2,451 psf.

Pinetree Hill is located near the existing Dover MRT Station on the East-West Line and the future Maju MRT Station on the Cross Island Line. It sits next to the 552-unit Nava Grove executive condo, which will launch for sale on Nov 16.

Latest transactions at Pinetree Hill (Photo: EP Buddy)

Check out the latest listings for The Shelford, The Lakegarden Residences, Pinetree Hill properties