Cairnhill Residences hits new high of $2,693 psf
/ EdgeProp Singapore |
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SINGAPORE (EDGEPROP) - Freehold condo Cairnhill Residences in prime District 9 has topped the list of condos that reached a new price high between Sept 13 and Sept 20. A 1,173 sq ft three-bedder on the ninth floor at the development changed hands for $3.16 million on Sept 18, which works out to $2,693 psf.
The seller had bought the unit at about $2.64 million ($2,251 psf) in April 2021, thus making a net profit of about $519,500 on the sale.
The new psf-price high is only 0.6% higher than the previous record of $2,676 psf that came with the sale of a similar-sized unit on the 14th floor for $3.14 million in April 2023.
A 1,173 sq ft three-bedroom unit at freehold Cairnhill Residences hit a new high of $2,693 psf on Sept 18 (Photo: The Edge Singapore)
Located on Cairnhill Circle in Orchard, Cairnhill Residences is a freehold development that was completed in 2009. It houses 97 units across two 20-storey towers. The units comprise two-bedroom units of 904 sq ft, three-bedroom units of 1,163 sq ft to 1,173 sq ft, and penthouses of 2,131 sq ft to 2,497 sq ft. There are also three-bedroom units with private enclosed spaces on the first floor that occupy between 1,421 sq ft and 1,432 sq ft.
Another development, Commonwealth Towers, saw a new psf-price high at $2,402 psf during the period in review. The record came from the resale of a 689 sq ft, two-bedroom unit on the 42nd floor. The unit was sold at $1.66 million on Sept 17. The seller had bought the unit from the developer for $1.308 million ($1,899 psf) in June 2017. As a result, they netted a profit of about $347,000.
The Sept 17 transaction is the first time the condo has passed the $2,402 psf mark. The development’s previous high of $2,323 psf was set on July 29 when a 1,055 sq ft three-bedroom unit on the 29th floor changed hands for $2.45 million.
Commonwealth Towers has seen 27 transactions this year, with units sold between $2,085 psf and $2,402 psf.
Commonwealth Towers saw a new record of $2,402 psf from a Sept 17 sale (Photo: Samuel Isaac Chua/EdgeProp Singapore)
The condo is a 99-year leasehold on Commonwealth Avenue in District 3, Queenstown. It was completed in 2017 and has 845 units. The units comprise one- to four-bedders from 441 sq ft to 1,302 sq ft. The condo is across the street from Queenstown MRT Station on the East-West Line and is within walking distance of Queenstown Primary School.
In District 11, Buckley Classique also saw a new psf-price peak of $2,376 during the period in review. The record comes with the sale of a 1,410 sq ft, three-bedroom unit on the fourth floor for $3.35 million on Sept 19. The seller had bought the unit from the developer for $3.24 million ($2,300 psf) in April 2013, making a net profit of about $106,300 from the sale.
Read also: Sky Vue achieves new high of $2,366 psf
The new psf-price high beats the previous record of $2,340 psf set just a few months ago. On April 5, a three-bedroom apartment of similar size on the same floor changed hands for $3.3 million.
Freehold Buckley Classique reached $2,376 psf from the sale of a 1,410 sq ft three-bedder on Sept 19 (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Located on Buckley Road in Novena, Buckley Classique was completed in 2014. The freehold low-rise condo has 64 one- to five-bedroom units from 1,098 sq ft to 4,359 sq ft. The development is close to the Novena MRT Station on the North-South Line.
No new psf-price lows were recorded during the period in review.
Latest transactions at Buckley Classique (Photo: EP Buddy)
Check out the latest listings for Cairnhill Residences, Commonwealth Towers, Buckley Classique properties
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