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3 Cuscaden reaches new high of $4,241 psf

/ EdgeProp Singapore |

June 18, 2021 8:09 AM SGT

SINGAPORE (EDGEPROP) - In this column, we look at condominium projects that have achieved new highs in terms of psf prices and those that have seen new lows. This is based on URA Realis data for the period of Jan 31 to Feb 8.

Highest psf price

The highest transaction recorded on a psf basis was for a 657 sq ft, two-bedroom unit at 3 Cuscaden. It changed hands for $2.78 million, or $4,241 psf, on Feb 4.

A unit at 3 Cuscaden changed hands for $4,241 psf on Feb 4 (Photo: Sustained Land)

The freehold unit sits on the 19th floor of the 23-storey tower located on Cuscaden Walk, just off Orchard Boulevard in prime District 10.

3 Cuscaden reached its previous psf price high on July 31, when a 764 sq ft, two-bedroom unit sold for $3.23 million, or $4,227 psf.

The project, launched in late 2018, is developed by Sustained Land. The tower has 96 units encompassing a mix of one-, two- and three-bedroom apartments, with sizes ranging from 420 to 1,281 sq ft. To date, 94 units have been sold at an average price of $3,640 psf, based on caveats lodged.

3 Cuscaden is located within walking distance to Wheelock Place, Ion Orchard, and the Orchard MRT Station along the North-South Line.

Another development that hit a new psf price high is Avenue South Residence. A 527 sq ft unit on the 55th floor sold for $1.38 million, or $2,611 psf on Feb 2.

The 99-year leasehold development is located at Silat Avenue off Kampong Bahru Road in District 3. Comprising of 1,074 units across two towers, the project is developed by UOL Group. Each tower spans 56 storeys, offering the high floor units scenic views of the city and the Greater Southern Waterfront precinct.

A show flat for Avenue South Residence. A unit at the development sold for $2,611 psf on Feb 2 (Photo: Samuel Isaac Chua/The Edge Singapore)

Units at Avenue South Residence are categorised into three collections: the Heritage Collection, the Horizon Collection, and the Peak Collection.

The Heritage Collection is a cluster of five conserved four-storey blocks on the project site that have been refreshed to accommodate 86 apartments. The Horizon Collection comprises units on the first to 36th floors of the residential towers, while the Peak Collection spans units located on the 37th floor and above.

To date, 931 units at Avenue South Residence have sold at an average price of $2,057 psf based on caveats lodged, translating to a take-up rate of 86.7%.

New lows

No new psf price lows were recorded for the period between Jan 31 to Feb 8.

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