Madison Residences hits new high of $2,312 psf

/ EdgeProp Singapore |

December 2, 2022 8:30 AM SGT

SINGAPORE (EDGEPROP) - Among condominiums that hit a new psf price high from Nov 11 to 18, Madison Residences topped the list following the sale of a 1,464 sq ft three-bedroom apartment on Nov 14 for $3.384 million, which works out to $2,312 psf.

This beats the previous high set in July 2021 when a 1,776 sq ft unit sold for $3.9 million, or $2,196 psf. It also marks the first unit sold since the July 2021 transaction and the first time a unit at Madison Residences has crossed the $2,300 psf threshold. The unit was previously purchased for $2.86 million or $1,954 psf in May 2017, based on caveats lodged. This means the seller made a gain of $524,000 on the transaction.

Madison Residences’ new psf price high follows the sale of a three-bedroom apartment for $3.384 million on Nov 14 (Picture: Samuel Isaac Chua/The Edge Singapore)

Madison Residences is a freehold condominium located along Bukit Timah Road in District 10. Developed by Keppel Land, the 18-storey tower was completed in 2012 and has a total of 56 apartments. Units comprise a mix of three- and four-bedders between 1,464 and 3,218 sq ft. There are also two duplex penthouse units measuring 4,407 sq ft.

Madison Residences is an eight-minute walk away from the Stevens MRT Station, which serves as an interchange to the Downtown and Thomson-East Coast lines. Other amenities nearby include Balmoral Plaza, which is a 10-minute walk away, while Orchard Road is a five-minute drive away.

Waterfall Gardens is another development that hit a new psf price high after a 4,037 sq ft four-bedroom penthouse unit was sold for $8.68 million or $2,150 psf on Nov 18. The transaction comes three months after the previous psf price high was set on Aug 25, when a 1,830 sq ft unit sold for $3.689 million ($2,016 psf). The latest transaction is also the second time a unit at Waterfall Gardens has transacted at prices exceeding $2,000 psf. The seller had previously purchased the unit for $7.38 million ($1,828 psf) in June 2007, based on caveats lodged.

Completed in 2010, Waterfall Gardens is a freehold condominium development located along Farrer Road in District 10. It comprises three 12-storey residential towers with a total of 132 units, featuring three and four-bedroom apartments starting from 1,830 sq ft.

Waterfall Gardens reached a new psf price high of $2,150 psf after a four-bedroom penthouse unit was sold for $8.68 million on Nov 18 (Picture: The Edge Singapore)

Waterfall Gardens is within a 10-minute drive to Holland Village and Tanglin Mall. It is also close to the Botanic Gardens while the Orchard Road shopping belt is a 15-minute drive away.

Another development that saw a new psf price high is Moda, located along East Coast Road in District 15. This follows the resale transaction of a two-bedroom unit measuring 980 sq ft for $2.1 million or $2,144 psf on Nov 18. The unit had been purchased by the seller from the developer in August 2011 for $1.382 million ($1,411 psf).

The new psf price high comes just over a month after the previous high of $2,000 psf was established on Oct 12, following the sale of a 969 sq ft unit for $1.938 million.

A freehold condominium, Moda was developed by Hor Kew Land and completed in 2014. The 18-storey tower houses 56 residential units as well as commercial units on the first floor which are currently occupied by fitness centres and a yoga studio. Residential units comprise two- and three-bedders measuring 764 to 969 sq ft. There are also six penthouse units — all three-bedders — measuring between 1,259 and 1,894 sq ft.

Moda hit a new high of $2,144 psf on Nov 18 following the sale of a two-bedroom unit for $2.1 million (Picture: Samuel Isaac Chua/The Edge Singapore)

Moda is at the heart of the Katong area, surrounded by shophouses housing a variety of eateries as well as commercial developments such as Katong V, Katong Plaza, i12 Katong and Katong Shopping Centre. It is also a 10-minute walk to Parkway Parade.

No new psf price lows were recorded during the period.

Check out the latest listings near Madison Residences, Waterfall Gardens, Moda, Stevens MRT Station

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