The Inspira hits new psf-price peak of $2,563
By Nicholas Lam
/ EdgeProp Singapore |
On April 30, The Inspira saw the sale of a 936 sq ft two-bedroom unit for $2.4 million, or $2,563 psf. (Picture: Samuel Isaac Chua / EdgeProp Singapore)
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The Inspira topped the list among the residential developments that hit a new high in terms of psf-price between April 26 and May 3.
On April 30, the condo saw the sale of a 936 sq ft two-bedroom unit on the ninth floor for $2.4 million. This reflects a psf-price of $2,563 psf.
The price marks a 4.4% premium over the condo’s former record of $2,456 psf. The previous record was set in August 2022 when a 936 sq ft two-bedroom apartment on the fifth floor was sold for $2.3 million.
Read also: The Ladyhill hits record psf-price of $3,182
According to URA caveats, the unit sold on April 30 had last transacted in April 2013 for about $1.81 million. This translates to a profit of approximately $590,000.
This was the first resale transaction lodged at the condo this year. Last year, only two units at The Inspira changed hands at an average psf-price of $2,315.
The Inspira is a 120-unit freehold condo located along Arnasalam Chetty Road in District 9 that was completed in 2009. The single-tower residential property has a unit mix comprising one-bedroom units spanning 667 sq ft, two- and three-bedroom units between 926 sq ft and 1,259 sq ft, and four-bedroom units spanning 1,561 sq ft. There are also penthouses between 1,873 sq ft and 2,314 sq ft.
Meyer Residence also saw a new psf-price peak during the period of review with the sale of a 1,066 sq ft two-bedroom unit on the 15th floor for about $2.45 million on April 26. This reflects a psf-price of $2,301 psf.
The unit on the 15th floor was last purchased in February 2010 for about $1.48 million, or $1,389 psf. Thus, the seller made a profit of about $972,000.
Meyer Residence also saw a new psf-price peak with the sale of a 1,066 sq ft two-bedroom unit on the 15th floor for about $2.45 million, or $2,301 psf. (Photo: Samuel Isaac Chua / EdgeProp Singapore)
The April 26 transaction beats Meyer Residence’s previous psf-price high of $2,171 psf by almost 6%. The previous record was set in July 2022 when a 1,152 sq ft two-bedroom unit on the 18th floor was sold for $2.5 million.
The unit sold on April 26 is also the second-most expensive unit ever sold at Meyer Residence in terms of absolute price — the priciest unit being the two-bedroom unit that changed hands in July 2022.
This is the first resale transaction recorded at Meyer Residence since 2022, based on URA caveats lodged. Six units changed hands in 2022 at an average psf-price of $2,033 psf.
Meyer Residence is a 68-unit freehold apartment complex located along Meyer Place in District 15. Completed in 2016, it consists of two-bedroom apartments from 904 sq ft to 1,066 sq ft and three-bedroom units spanning 1,152 sq ft.
Meanwhile, Cliften also hit a new psf-price high during the period in review with the resale of a 1,184 sq ft three-bedroom unit on the 12th floor for $2.68 million, or $2,263 psf, on April 29.
The seller had bought the unit in April 2021 for $2.1 million ($1,774 psf) in April 2021. Thus, a profit of $580,000 was recorded on the deal.
This is the first time a unit at Cliften has sold for above $2,200 psf. The new record is 8.5% higher than the previous high of $2,086 psf set in May 2023 when the 6th floor unit of the same stack sold for $2.47 million.
Price trends of units transacted at Cliften. (Source: URA, EdgeProp Singapore)
Cliften is a 32-unit, single-tower freehold apartment complex located along Ewe Boon Road in District 10. Completed in 2006, it consists of three-bedroom units spanning between 1,066 sq ft and 1,184 sq ft and duplex penthouses between 2,034 sq ft and 2,260 sq ft.
There were no record psf-price lows recorded during the period of review.
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