SINGAPORE (EDGEPROP) - Among condos that hit a new psf-price high between Dec 29, 2023, and Jan 5, Signature At Lewis topped the list with the resale transaction of a two-bedder on Jan 5. The 980 sq ft unit on the seventh floor changed hands for $2.29 million, which works out to $2,338 psf. Caveats lodged show that the unit was purchased by the seller in December 2020 for $1.65 million ($1,684 psf). Hence, they made a gross gain of about $640,000 on the resale.
This is the second time a unit at Signature At Lewis has fetched a price above $2,000 psf. The first occurrence took place in August 2023, when another 980 sq ft, two-bedroom unit on the 11th floor was sold for $2.14 million or $2,183 psf.
The new high at Signature At Lewis (centre) comes from the sale of a 980 sq ft unit for $2.29 million on Jan 5 (Picture: Google Maps)
Signature At Lewis is a freehold boutique condo with just 32 units located on Lewis Road, off Bukit Timah Road in prime District 10. Completed in 2011, the 12-storey tower houses studio to four-room apartments of between 635 and 1,841 sq ft. There are also two penthouses that come with their own swimming pool, spanning 3,068 and 3,445 sq ft respectively.
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The condo is a seven-minute walk to Stevens MRT Station which is an interchange for the Downtown and Thomson-East Coast Lines. Other amenities nearby include the Singapore Botanic Gardens, Adam Food Centre, and schools such as the Singapore Chinese Girls’ School on Dunearn Road and St Joseph’s Institution on Malcolm Road.
The Myst also saw a new psf-price high during the period in review. This was achieved by the developer sale of a 517 sq ft, onebedroom-plus-study unit on Jan 2 for $1.21 million. The price translates to $2,336 psf for the 20th-floor unit. This beats the previous high set last July for the sale of a 517 sq ft unit on the 19th floor for $1.2 million ($2,323 psf).
The Myst hit a new high of $2,336 psf on Jan 2 when a 517 sq ft apartment fetched $1.21 million (Picture: City Developments)
The Myst is a 408-unit condo on Upper Bukit Timah Road in District 23. The 99-year leasehold development comprises two 24-storey towers. Units include a mix of one-bedders of 517 sq ft, two-bedroom units of 678 to 732 sq ft, three-bedders of 850 to 1,163 sq ft, four-bedders of 1,453 to 1,518 sq ft and five-bedders of 1,690 sq ft.
The project was launched for sale last July, where it saw 110 (27%) units sold during the first weekend of launch at an average price of $2,057 psf. Based on caveats lodged as of Jan 16, the project has moved 183, or 45%, of its units at an average price of $2,070 psf.
With the sale of a 1,216 sq ft unit for $2.56 million on Jan 5, City Square Residences logged a new high of $2,105 psf (Picture: The Edge Singapore)
City Square Residences, a condo on Kitchener Link in District 8, also saw a new psf-price high, with the sale of a 1,216 sq ft unit on the 28th floor for $2.56 million ($2,105 psf) on Jan 5. The seller bought the three-bedroom unit from the developer in May 2005 for about $669,000 ($550 psf). Thus, they made a gross profit of around $1.89 million on the sale. The transaction beats the previous price record of $2,103 psf set in November 2021 when a 570 sq ft unit fetched $1.2 million.
City Square Residences is a 910-unit condo next to City Square Mall, on a site between Jalan Besar and Serangoon Road. It is a short walk away from Farrer Park MRT Station (on the North East Line) which is integrated with the mall. Completed in 2009, the freehold project comprises six blocks of residences spanning between 28 and 30 storeys. Units include one-bedroom apartments of 570 to 850 sq ft, two-bedroom apartments of 840 to 1,302 sq ft, three-bedroom units of 1,195 to 1,830 sq ft, and four-bedroom units of 1,496 to 1,518 sq ft.
Read also: Parc Esta achieves new high of $2,409 psf
Average prices transacted at City Square Residences have increased more than 20% over the last four years, on a steady volume of resale transactions. In 2020, 17 units at City Square Residences changed hands at an average price of $1,584 psf. Last year, 14 resale transactions were logged, with the units sold at an average price of $1,958 psf. No new psf-price lows were recorded during the period in review.
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