The Atelier marks new psf-price low of $2,494
By Timothy Tay
/ EdgeProp Singapore |
According to developer sales data, The Atelier has moved about 37 units to date, which translates to a take-up rate of about 31%.
SINGAPORE (EDGEPROP) - The transaction of a 1,281 sq ft, three-bedroom unit at The Atelier for $3.2 million, or $2,494 psf, on March 5 set a new low in terms of psf price for the project. This is based on transactions between Feb 24 and March 3.
The previous record psf-price low at The Atelier was for another 1,281 sq ft unit that was sold by the developer for $3.22 million ($2,512 psf) on March 1.
The Atelier is an upcoming 120-unit freehold development on Makeway Avenue in the Newton area, in prime District 9. It is adjacent to another upcoming project, the 378-unit Kopar at Newton, also on Makeway Avenue, which is a 99-year leasehold project.
The developments are close to Newton MRT Interchange Station on the North-South and Downtown Lines. They are also connected to major roads such as Bukit Timah Road, Dunearn Road, Scotts Road and Newton Road. The Novena and Orchard Road areas are also nearby.
The Atelier is a 120-unit freehold development on Makeway Avenue in the Newton area. (Picture: Samuel Isaac Chua/The Edge Singapore)
The Atelier was launched for sale in March 2021. The 22-storey condo comprises a mix of one- to four-bedroom units that range from 549 to 1,496 sq ft.
According to developer sales data, The Atelier has moved about 37 units to date, which translates to a take-up rate of about 31%. The apartment that achieved the highest psf price was an 883 sq ft, two-bedroom unit on the 20th floor that was transacted for $3,040 psf, or $2.68 million, in March last year.
A tabulation of sales data by EdgeProp Singapore shows that The Atelier commands an average price of $2,693 psf.
On the other hand, the sale of a 4,284 sq ft, four-bedroom unit at Nassim Park Residences for $20.5 million, or $4,785 psf, on Feb 27 ranks as the highest psf-price in the project to date, and also for condo transactions from Feb 24 to March 3.
The previous psf record at Nassim Park Residences was for a 3,466 sq ft, four-bedroom unit sold by the developer for $14.28 million ($4,120 psf) in July 2010.
A four-bedder at Nassim Park Residences reached an eye-watering $4,785 psf on Feb 27. (Picture: Samuel Isaac Chua/The Edge Singapore)
Nassim Park Residences is a 100-unit, freehold condo on Nassim Road. The development was developed jointly by UOL Group, Kheng Leong Co and Orix Capital, and completed in 2011.
The project that notched the second highest record psf-price during the week is D’Grove Villas, a freehold condo on Orange Grove Road in prime District 10. A 1,690 sq ft, two-bedroom unit changed hands for $4.3 million ($2,544 psf) on March 2. This leaps over the previous psf-price high at the condo set by the sale of a 2,443 sq ft four-bedder at $5.33 million ($2,181 psf) in May 2011.
D’Grove Villas is a boutique 45-unit condo that was completed in 1992. The condo is close to the Ardmore Park residential area, one of the most exclusive residential neighbourhoods in Singapore.
A two-bedroom unit at D’Grove Villas changed hands for $4.3 million ($2,544 psf) on March 2. (Picture: Samuel Isaac Chua/The Edge Singapore)
Luxury condos in the vicinity include Le Nouvel Ardmore, Ardmore Residence, Ardmore Park, Sculptura Ardmore and Treetops Executive Residences. D’Grove Villas is also close to Shangri-La Singapore on Orange Grove Road.
As one of the more mature developments in the area, D’Grove Villas has seen significant capital appreciation. An analysis of resale transactions at the condo by EdgeProp Singapore shows that prices in the condo have increased from $1,319 psf in March 2003 to $1,731 psf in March 2013, and subsequently to about $2,500 psf this month.
Check out the latest listings near The Atelier, Nassim Park Residences, D'Grove Villas, Kopar at Newton, Le Nouvel Ardmore, Ardmore Residence, Ardmore Park, Sculptura Ardmore, Treetops Executive Residences, Newton MRT Interchange Station
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