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Park Infinia hits new peak of $2,527 psf

By Nicholas Lam

/ EdgeProp Singapore |

May 30, 2024 3:07 PM SGT

Park Infinia saw the sale of a 1,464 sq ft, three-bedroom unit for $3.7 million, or $2,527 psf. (Source: URA, EdgeProp Singapore)

Among the condo developments that stood out for achieving new peaks in terms of psf prices was the freehold Park Infinia at Wee Nam. It was ranked at the top for the week of May 10 to 17. The unit that achieved the new high was a 1,464 sq ft, three-bedroom condo on the 17th floor that changed hands for $3.7 million, based on a caveat lodged on May 10. The transacted price translated to $2,527 psf.

On May 10, Park Infinia saw the sale of a 1,464 sq ft, three-bedroom unit for $3.7 million, or $2,527 psf. (Photo: Samuel Isaac Chua / EdgeProp Singapore)

The price is just 0.3% higher than the condo’s former record of $2,518 psf. The previous benchmark was set in March 2022 when an 893 sq ft, two-bedroom unit on the 28th floor was sold for $2.25 million.

According to URA caveats, the unit sold on May 10 had previously changed hands in June 2017 for $2.65 million. Thus, the seller made a profit of $1.05 million.

Read also: Two-bedder at Zenith sold at new high of $2,383 psf

This was the third resale transaction lodged at the condo this year. It follows the sale of a 1,442 sq ft, three-bedroom unit for $3.35 million ($2,323 psf) on Feb 16; and the sale of a 2,002 sq ft, four-bedroom unit for $4.7 million ($2,348 psf) on Jan 4.

Last 10 sales transactions at Park Infinia. (Source: URA, EdgeProp Singapore)

Taking into account all three transactions, units at Park Infinia have been sold at an average price of $2,394 psf so far this year. In comparison, the development saw seven resale transactions last year with an average price of $2,222 psf. This marks a 7.7% increase in average psf price.

Park Infinia is a freehold condo on Lincoln Road in prime District 11. The 486-unit development was completed in 2008. It comprises a mix of one- to four-bedroom units of 560 to 2,002 sq ft, as well as penthouses spanning from 2,702 to 3,315 sq ft.

Park Colonial also saw a new psf-price high during the period of review with the resale transaction of a 678 sq ft, two-bedroom unit on the 10th floor for $1.58 million on May 15. This translates to $2,330 psf.

The transaction inches above the previous high of $2,326 psf set on April 9. Then, a 980 sq ft, three-bedroom unit on the sixth floor was sold for $2.28 million.

Park Colonial hit a new psf-price high with the resale transaction of a two-bedroom unit for $1.58 million. (Picture: CEL Development)

According to URA caveats, the unit sold on May 15 was purchased by the seller from the developer in July 2018 for about $1.22 million, or $1,798 psf. Therefore, the seller made a profit of $361,000 from the sale.

Read also: Parc Esta achieves new high of $2,409 psf

Park Colonial is an 805-unit, 99-year leasehold condo that was completed in 2021. Located along Woodleigh Lane in District 13, the project comprises six 14- to 15-storey residential blocks. It has a mix of one- and two-bedroom units from 463 to 958 sq ft; three- and four-bedroom units from 915 to 1,464 sq ft; and five-bedroom units from 1,701 to 2,185 sq ft.

Meanwhile, OUE Twin Peaks hit a new psf-price low during the period in review. This comes with the sale of a 549 sq ft, one-bedroom unit on the third floor for $1.14 million, or $2,077 psf, on May 17.

The new record is below the condo’s previous low of $2,086 psf. The previous record was set in December 2022, when a 1,055 sq ft, two-bedroom unit on the 18th floor was sold for $2.2 million.

OUE Twin Peaks reached a new psf-low with the sale of a one-bedroom unit for $1.14 million, or $2,077 psf. (Photo: Samuel Isaac Chua / EdgeProp Singapore)

OUE Twin Peaks is a 462-unit development on Leonie Hill Road in prime District 9. Completed in 2015, the 99-year leasehold condo comprises two identical 35-storey towers. Units in the project are a mix of one- and two-bedders between 549 and 1,055 sq ft; three-bedroom units between 1,399 and 1,604 sq ft; and four-bedroom units spanning 1,895 sq ft.