Newton One hits new high of $2,375 psf
By Nicholas Lam
/ EdgeProp Singapore |
Among the condos and apartments that hit a new high in terms of psf price from March 15 to 19, Newton One topped the list (Source: EdgeProp Singapore, URA)
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Among the condos and apartments that hit a new high in terms of psf price from March 15 to 19, Newton One topped the list with the sale of a 1,916 sq ft four-bedroom unit for $4.55 million on March 15. That translates to $2,375 psf.
This surpasses the previous record of $2,343 psf that was set at Newton One on Jan 30 when a 1,216 sq ft, two-bedroom-plus-study unit was sold for $2.85 million.
The unit sold on March 15 was purchased by the seller in September 2012 for $3.3 million ($1,722 psf). This means he made a gross profit of $1.25 million on the sale.
Newton One topped the list with the sale of a 1,916 sq ft four-bedroom unit that sold for $4.55 million on March 15 (Photo: Samuel Issac Chua / EdgeProp Singapore)
Completed in 2009, Newton One is a freehold condo located along Newton Road in District 11 comprising of a single residential tower. It houses 91 residential units across 28 floors, comprising two-bedroom-plus-study units measuring 1,216 sq ft, three-bedroom-plus-study units of 1,808 sq ft and four-bedroom units of 1,916 sq ft. There are also five-bedroom units measuring 2,411 sq ft.
The condo sees a relatively low volume of resale transactions. Last year, only one unit changed hands: a 1,216 sq ft unit that fetched $2.75 million ($2,261 psf) on May 9.
Haig 162 also hit a new high in terms of psf price during the period in review when a 355 sq ft, one-bedroom apartment was sold for $710,000 on March 19. This works out to $1,999 psf.
The new record surpasses the previous high of $1,914 psf established in August 2013 when a 355 sq ft, one-bedroom apartment was sub-sold for $680,000.
The seller of the March 19 property had bought the unit from the developer in August 2010 for $518,000 ($1,458 psf). Thus, they made a profit of $192,000 after owning the unit for nearly 14 years.
The unit marks the first apartment at Haig 162 to change hands this year. Records going back the past 12 months show that units at Haig 162 have transacted at an average price of about $1,880 psf.
Read also: Parc Esta achieves new high of $2,409 psf
Haig 162 is a 99-unit freehold apartment located on Haig Road in District 15. Units comprise one-bedders from 344 sq ft to 861 sq ft and two-bedders between 581 sq ft and 915 sq ft. The property was completed in 2013.
A unit at luxury condo 19 Nassim hit a new psf price low during the period in review when a two-bedroom unit spanning 829 sq ft was sold by the developer for $2.49 million or $3,009 psf on March 17.
19 A two-bedroom unit at 19 Nassim spanning 829 sq ft was sold by the developer for $2.49 million or $3,009 psf on March 17 (
The transaction come about four months after the previous low of $3,036 psf that was set at the development upon the sale of an 829 sq ft, two-bedroom unit for $2.52 million on Nov 10, 2023.
19 Nassim is a 99-year leasehold development on Nassim Hill in prime District 10. The 10-storey luxury condo received its temporary occupation permit last November and comprises 101 units. Apartments consist of one-bedroom units from 538 sq ft to 570 sq ft, one-bedroom-plus-study units from 646 sq ft to 678 sq ft, two-bedroom units from 807 sq ft to 1,109 sq ft and three-bedroom units of 1,324 sq ft to 1,830 sq ft.
19 Nassim first launched for sale in March 2020. Caveats lodged show that the condo hit a psf price high of $3,906 psf in February 2023 when a 1,410 sq ft unit was sold by the developer for $5.51 million.
Since then, psf prices transacted at the development have generally trended downwards. For the whole of 2023, eight units were sold at an average price of $3,561 psf. Year to date, 20 units have been sold at an average price of $3,349 psf. A total of 31 units (31%) at 19 Nassim have been taken up thus far at an average price of $3,425 psf.
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