Four-bedder at freehold Gallop Gables reaches $2,299 psf
/ EdgeProp Singapore |
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SINGAPORE (EDGEPROP) - Freehold condo Gallop Gables topped the list of condos that saw new psf-price highs between Nov 19 and Nov 22. The latest high of $2,299 psf came from a 2,669 sq ft four-bedroom on the second floor that changed hands for $6.14 million on Nov 20. The seller, who had bought the unit for $4.5 million ($1,686 psf) in July 2017, made a gain of $1.64 million on the deal.
The Nov 20 transaction beats Gallop Gable’s previous high of $2,108 psf from the sale of a 1,163 sq ft, two-bedroom unit on the third floor for $2.45 million on Feb 19. The seller bought the unit for $2.07 million ($1,781 psf) in January 2021, making a net profit of $380,000.
Freehold Gallop Gables set a new record of $2,299 psf from the sale of a 2,669 sq ft four-bedroom apartment for $6.14 million on Nov 20 (Photo: EdgeProp Singapore)
Gallop Gables is located on Farrer Road in District 10. Completed in 1997, this low-density development features 102 units spread across four-storey blocks. It is within walking distance of Farrer Road MRT Station on the Circle Line.
The condo has seen three resale transactions this year at an average price of $2,110 psf, which is higher than the average price of $1,991 psf recorded from four transactions at the development last year. Apart from the units sold on Nov 20 and Feb 19, a 1,550 sq ft two-bedroom unit on the first floor changed hands for $2.98 million ($1,923 psf) on Sept 9.
The Scala came in second on the list of condos that saw new psf-price highs during the period in review. This follows the sale of a 1,259 sq ft, four-bedroom unit on the 12th floor for $2.6 million, or $2,064 psf, on Nov 20. The seller had bought the unit for $1.66 million ($1,318 psf) in October 2012.
Over in District 19, The Scala also achieved a new psf-price record of $2,064 psf from the resale of a 1,259 sq ft, four-bedder for $2.6 million on November 20 (Photo: Samuel Isaac Chua/EdgeProp Singapore)
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This is the first time the condo has passed the $2,000 psf mark. Before this, the condo’s psf-price high stood at $1,969 psf, following the sale of a 904 sq ft two-bedroom unit on the 11th floor for $1.78 million on Sept 9. The seller had bought the unit for $1.31 million ($1,449 psf) in March 2013.
The condo has seen 16 resale transactions this year, with an average price of $1,823 psf. This is 8% higher than the average price of $1,688 psf set by the 16 transactions at the development last year.
The Scala is a 99-year leasehold condo on Serangoon Avenue 3 in District 19. Completed in 2013, the condo has 468 units across 17 storeys. The units are a mix of one- to four-bedroom units measuring between 474 sq ft and 2,142 sq ft. It is within walking distance of the Lorong Chuan MRT Station on the Circle Line. It is also close to several educational institutions, such as Nanyang Junior College, St Gabriel’s Primary School and Yangzheng Primary School.
Sims Edge also charted a new record of $1,907 psf during the review period. This came from the sale of a 409 sq ft, one-bedroom unit on the 13th floor for about $780,000 on Nov 22. The seller had bought the unit for $663,807 ($1,623 psf) in April 2019.
Read also: K Suites achieves new high of $2,443 psf
Another freehold condo, Sims Edge, also saw a new record of $1,907 psf during the period in review (Photo: Samuel Isaac Chua/EdgeProp Singapore)
This is the first time a unit at the condo has transacted above the $1,900 psf threshold. The condo’s previous record of $1,834 psf came from the sale of a 409 sq ft one-bedroom unit on the fifth floor for $750,000 on Jan 18. The seller had bought the unit from the developer for about $527,000 ($1,288 psf) in July 2011.
The condo has seen a total of five resale transactions this year, with an average price of $1,800 psf. This is higher than the average price of $1,644 psf from last year’s four transactions.
Sims Edge is a freehold development on Geylang East Avenue 2 in District 14, Geylang. Completed in 2014, the boutique condo has 78 units of one- to two-bedders ranging from 409 sq ft to 1,195 sq ft. It is within 500m of thePaya Lebar MRT Interchange Station on the East-West Line and Circle Line.
No new psf-price lows were recorded during the period in review.
Latest transactions at Sims Edge (Photo: EP Buddy)
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