Daintree Residence hits new peak of $2,199 psf
By Nicholas Lam
/ EdgeProp Singapore |
Daintree Residence achieved the highest psf-price transacted in the last 6 months with the sale of a three-bedroom unit at a price of $2,199 psf. (Table: Squarefoot Research, EdgeProp Singapore)
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Among the condos and apartments that hit a new high in terms of psf-price between April 12 and 19, Daintree Residence achieved the highest psf-price transacted with the sale of a three-bedroom unit. The 1,055 sq ft apartment on the fifth floor was sold for $2.32 million on April 12, which works out to $2,199 psf.
This inches past the condo’s former record of $2,166 psf, which was set in February when a similar three-bedroom unit spanning 1,055 sq ft was sold for $2.29 million.
The unit sold on April 12 was purchased by the seller from the developer in December 2019 for $1.9 million, or $1,801 psf. Thus, the seller made a profit of about $420,000, making it the third-most profitable resale transaction logged to date at the condo. The most profitable deal to date at Daintree Residences occurred in March 2024 when the resale of a 1,055 sq ft, three-bedroom unit resulted in a profit of about $529,000.
Average transacted prices at Daintree Residence have grown 3% compared to last year, based on caveats lodged. A total of eight units at the condo have changed hands so far this year at an average price of $2,102 psf. In comparison, 14 units changed hands at Daintree in 2023 at an average price of $2,037 psf.
Price trends at Daintree Residences. (Graph: URA, EdgeProp Singapore)
Daintree Residence is a 327-unit, 99-year leasehold development located along Toh Tuck Road in District 21. Completed in 2022, the project consists of 12 five-storey blocks. It has a unit mix comprising one- and two-bedroom units between 592 and 1,162 sq ft, three-bedroom units between 1,001 sq ft and 1,249 sq ft, and four-bedroom units spanning 1,485 sq ft to 1,593 sq ft.
Freehold condo Montview also hit a new high in terms of psf-price during the period of review with the sale of a 1,507 sq ft, three-bedroom unit for $3.3 million, or $2,193 psf, on April 15.
The new record beats out the previous peak of $2,157 psf set last November with the sale of a 1,507 sq ft, three-bedroom unit for $3.25 million.
The unit sold on April 15 was purchased in November 2005. The seller bought the unit for $1.17 million ($773 psf) from the developer.
This is the first resale transaction logged at Montview so far this year. Based on URA caveats lodged, four units at Montview have been sold in the last 12 months at an average price of $2,086 psf.
The last 10 transactions at Montview. (Table: URA, EdgeProp Singapore)
Completed in 2008, Montview is a 115-unit freehold condo located along Mount Sinai Drive in District 10. It consists of a single 24-storey residential block that houses two- and three-bedroom apartments from 1,227 to 1,679 sq ft, four-bedroom apartments from 1,701 to 1,981 sq ft, and penthouses from 3,014 to 3,412 sq ft.
Meanwhile, The Residences at W Singapore Sentosa Cove hit a new psf-price low during the period in review. This comes with the resale of a 1,658 sq ft, three-bedroom unit on the second floor for $2.84 million, or $1,716 psf, on April 18.
This is 1.8% lower than the previous all-time low of $1,747 psf set in September 2023, when a 1,259 sq ft, two-bedroom unit changed hands for $2.2 million.
The Residences at W Singapore Sentosa Cove is a 99-year leasehold, 228-unit luxury condo located along Ocean Way on Sentosa island. Completed in 2011, the unit mix at the condo consists of two- and three-bedroom units between 1,227 and 2,616 sq ft, four-bedroom units between 2,067 sq ft and 2,486 sq ft, and penthouse units spanning between 2,217 sq ft and 6,297 sq ft.
The Residences at W Singapore Sentosa Cove hit a new psf-price low during the period in review with the resale of a 1,658 sq ft, three-bedroom unit on the second floor for $1,716 psf.(Photo: Samuel Isaac Chua/EdgeProp Singapore)
Last month, Cityview Place Holdings, an associate of Singapore-listed property group City Developments, released a number of units it still owns at the condo for sale by placement. As of April 16, 65 of the units placed were sold at an average selling price of $1,780 psf, according to Cityview.
* Prices in this article reflect new psf-highs and psf-lows hit in the last 6 months.
Check out the latest listings for Daintree Residence, Montview, The Residences At W Singapore Sentosa Cove properties
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