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New Futura hits new high of $4,645 psf

/ EdgeProp Singapore |

May 18, 2023 7:00 AM SGT

SINGAPORE (EDGEPROP) - Among the condos that hit a new psf-price high between April 30 to May 5, New Futura topped the list following the sale of a 2,691 sq ft, four-bedroom for $12.5 million or $4,645 psf on May 5. It beats the previous high of $4,630 psf set in May 2018 after a penthouse measuring 7,836 sq ft fetched $36.3 million.

The new high at New Futura follows the sale of a 2,692 sq ft unit for $12.5 million on May 5 (Picture: Samuel Isaac Chua/The Edge Singapore)

New Futura, located along Leonie Hill Road, is a luxury condo by City Developments that was completed in 2017. It has 124 units housed in twin 36-storey towers. Units comprise a mix of two-bedroom apartments of 1,098 sq ft to four-bedroom apartments of 2,691 sq ft with double-volume ceilings. There are also two 7,836 sq ft penthouses – one at the top of each tower.

Hyll on Holland also saw a new psf-price high following the developer’s sale of a 1,055 sq ft, three-bedroom plus study unit for $3.23 million or $3,059 psf on May 1. The transaction beats the previous high of $3,027 psf set on March 29 after a 570 sq ft unit fetched $1.73 million.

Hyll on Holland scale model - EDGEPROP SINGAPORE

The new psf-price high at Hyll on Holland follows the sale of a 1,055 sq ft unit for $3.23 million on May 1 (Picture: Samuel Isaac Chua/The Edge Singapore)

Hyll on Holland is a freehold development by Far East Consortium International and Koh Brothers Group. It has six 12-storey blocks with 319 apartments, comprising two and three-bedders ranging from 570 sq ft to 1,055 sq ft. Since its launch in October 2020, the project has seen 297 (93%) units taken up at an average price of $2,630 psf, based on caveats lodged.

Hyll on Holland is located at Holland Road in prime District 10. It is a four-minute drive to the Holland Village cluster of shops and eateries, including malls like Raffles Holland V and Holland Road Shopping Centre, both on Holland Avenue. The project is due to be completed in 2025.

Another development that hit a new psf-price high is The Landmark in the Outram area. The developer sold a one-bedroom unit measuring 495 sq ft on the 30th floor for $1.41 million ($2,856 psf) on April 30. This surpasses the previous high of $3,837 psf registered on Jan 8 after another 495 sq ft unit was sold for $1.41 million ($2,847 psf).

The Landmark saw a new high of $2,856 psf after a 495 sq ft unit fetched $1.41 million on April 30 (Picture: Samuel Isaac Chua/The Edge Singapore)

Located adjacent to Pearl Hill City Park in District 3, The Landmark is a joint venture between MCC Land, ZACD Group and SSLE Development. The 99-year leasehold project is scheduled for completion in 2025 and will consist of one to three-bedroom units ranging from 495 sq ft to 1,141 sq ft. Chinatown MRT Station, on the Downtown and NorthEast Lines, is located within a 10-minute walking distance away, while Chinatown Point at New Bridge Road and UE Square at Clemenceau Avenue are nearby.

Meanwhile, Twin Regency is the third project that hit a new psf-price high during the period in review. On May 2, a three-bedroom apartment measuring 1,216 sq ft was sold for $2.5 million, setting a new high of $2,051 psf. This beats the previous high of $2,011 psf registered following the sale of a 1,442 sq ft unit for $2.9 million on April 20. It is also the second time Twin Regency has seen a unit transacted above $2,000 psf.

Jointly developed by UOL Group and Low Keng Huat, the freehold project is located along Kim Tian Road, off Tiong Bahru Road, in District 3. Completed in 2007, it has 234 units and residences comprising a mix of two-, three and four-bedroom units measuring 980 sq ft to 1,841 sq ft and penthouses ranging from 2,121 sq ft to 3,455 sq ft.

No new psf-price lows were recorded during the period in review.