Freehold Belmond Green reaches new high of $2,723 psf
By Nur Hikmah Md Ali
/ EdgeProp Singapore |
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SINGAPORE (EDGEPROP) - Freehold condo Belmond Green on 15D Balmoral Road topped the list of projects that achieved new highs in terms of psf-prices from May 17 to 24. This came about when a 969 sq ft, two-bedroom apartment on the eighth floor of Belmond Green was sold for $2.64 million, or $2,723 psf, based on a caveat lodged on May 17.
The price is 2.6% higher than the previous record psf-price of $2,653, which came from the sale of a 1,270 sq ft, three-bedroom unit for $3.37 million on Feb 26. The unit is located on the fifth floor of the development.
Based on caveats lodged, the May 17 seller of the unit had purchased the apartment for $1.995 million ($2,059 psf) in January 2021. This means that the seller made a profit of $643,000.
A 969 sq ft two-bedder at freehold condo Belmond Green saw a record psf-price of $2,723 on May 17 (Photo: Samuel Isaac Chua/EdgeProp Singapore)
The condo has seen three transactions so far this year, with the Feb 26 and May 17 sales being the first and third transactions respectively. The second transaction was on May 6 and involved the sale of a 1,550 sq ft, four-bedroom for $3.95 million, or $2,548 psf — the third highest psf-price at the condo.
The three transactions put the condo’s average psf-price at $2,641. This is 6.19% higher than the average psf-price of resale transactions at the condo last year. According to URA’s caveats, the condo saw only three units sold last year at an average psf-price of $2,487.
Belmond Green is a freehold condo located on Balmoral Road, off Bukit Timah Road on one end and Stevens Road on the other. It is in prime District 10. Completed in 2004, the development comprises 211 units. There is a mix of two- to four-bedroom units, ranging from 958 to 2,519 sq ft.
Recent transactions at Belmond Green (Data: URA, EdgeProp research)
Coming on the heels of Belmond Green is Kuie Pong Loft, a freehold apartment on 10 Robin Walk in prime District 10. The development reached a new high of $2,483 psf from the sale of a 1,453 sq ft, three-bedroom apartment at $3.608 million on May 20. The unit is located on the fourth floor of the building.
This is the second caveated transaction at the condo. The only other caveat comes from the sale of another three-bedroom apartment on the second floor in January 2017. The similarly sized unit was sold for $1.8 million, or $1,239 psf.
Kuie Pong Loft saw a new high of $2,483 psf from the sale of a 1,453 sq ft, three-bedroom apartment at about $3.61 million on May 20 (Photo: Google Maps)
The development is just 100m away from Stevens MRT Station, which serves the Downtown Line and the Thomson-East Coast Line. It is within walking distance of Singapore Chinese Girls’ Primary and Secondary Schools.
Read also: Parc Esta achieves new high of $2,409 psf
On the other hand, The Myst saw a new psf-price low among the list of condos that saw new lows during the period in review. This follows the new sale of a 1,163 sq ft, three-bedroom apartment for $2.202 million on May 17. This translates into $1,894 psf.
The Myst saw a record low psf-price of $1,894 from the sale of a 1,163 sq ft three-bedroom apartment for $2.202 million on May 17 (Photo: Samuel Isaac Chua/EdgeProp Singapore)
This is slightly lower than the previous lowest psf-price of $1,896, which came from the new sale of a similarly sized three-bedroom apartment for $2.204 million on May 3.
The May 17 sale is the condo’s 62nd transaction this year. Its most recent sale as of the time of writing took place on May 26. The developer sold a 700 sq ft, two-bedroom apartment for $1.64 million, or $2,338 psf.
Recent transactions at The Myst (Data: URA, EdgeProp research)
The Myst is located on 802 Upper Bukit Timah Road in Bukit Panjang, District 23. It is still under construction and is slated for completion by 2029. The 99-year leasehold development comprises 408 units of one-bedroom-plus-study to four-bedders, occupying between 517 and 1,690 sq ft.
At its launch in July last year, the private condo saw a 27% take-up rate at an average price of $2,057 psf.
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