Pullman Residences Newton hits new high of $3,671 psf

/ EdgeProp Singapore |

June 15, 2023 5:57 PM SGT

SINGAPORE (EDGEPROP) - Among the list of condos that achieved new psf-price highs during the period of May 23 to June 2, Pullman Residences Newton topped the list following the sale of a one-bedroom penthouse unit on May 29. The 463 sq ft apartment was sold by the developer for $1.7 million or $3,671 psf. This surpasses the previous high of $3,515 psf registered on April 13 after a 667 sq ft unit fetched $2.34 million. It is also the first time a transaction at the condo has surpassed the $3,600 psf threshold.

Pullman Residences Newton scale model - EDGEPROP SINGAPORE

The new high at Pullman Residences Newton follows the sale of a one-bedroom penthouse for $1.7 million on May 29 (Picture: Samuel Isaac Chua/The Edge Singapore)

Pullman Residences Newton is a freehold development located along Dunearn Road in prime District 11. It consists of 340 units. A project by EL Development, it is located just 150m away from Newton MRT Station. The 30-storey apartment block will feature hospitality services provided by Pullman Hotels & Resorts, including a concierge service, a doorman and an attendant at the club lounge.

The development features a mix of one- to four-bedroom units ranging from 463 sq ft to 1,389 sq ft. Since its launch in November 2019, the developer has sold 296 units (87%), based on caveats lodged with URA as of June 13. The project is slated for completion later this year.

Grange Residences is another development that reached a new psf-price high, after a four-bedder measuring 2,669 sq ft on the eighth floor changed hands for $8.88 million or $3,327 psf on May 31. The transaction comes two months after the previous high of $3,321 psf that came from the sale of a 2,583 sq ft unit for $8.58 million on March 23. It also marks a new high in terms of absolute quantum transacted at the condo, beating the previous record of $8.7 million ($3,050 psf) for a 2,852 sq ft unit sold in July 2021.

Grange Residences reached a new psf-price high when a 2,669 sq ft four-bedder changed hands for $8.88 million ($3,327 psf) on May 31 (Picture: Samuel Isaac Chua/The Edge Singapore)

Grange Residences is a freehold development located at the corner of Grange Road and Tanglin Road in District 10. It was developed by the former Wheelock Properties (now Wharf Estates Singapore) and completed in 2004. The condo comprises three residential blocks that are 18 storeys high, housing a total of 164 units. The units are all four-bedroom unit types ranging from 2,486 sq ft to 2,852 sq ft.

At the other end of the spectrum, Park Nova saw a new psf-price low during the period in review. On May 24, a 1,432 sq ft unit on the seventh floor was sold by the developer for $6.19 million or $4,324 psf. The sale of the two-bedroom-plus-study unit marks the lowest transaction at the development on both an absolute price as well as price psf basis. The previous low occurred in February, following the sale of another two-bedroom-plus-study unit measuring 1,432 sq ft for $6.26 million ($4,371 psf).

Park Nova saw a new psf-price low following the sale of a 1,432 sq ft unit for $6.19 million ($4,324 psf) (Picture: Shun Tak Holdings)

Park Nova is a 54-unit ultra-luxury condo by Hong Kong-listed developer Shun Tak Holdings. Located at the junction of Orchard Boulevard and Tomlinson Road in prime District 10, it is near malls such at Tanglin Mall and luxury hotels including St Regis Singapore and Conrad Singapore Orchard. Units comprise two- to four-bedroom units of between 1,432 sq ft and 2,906 sq ft. There are also three five-bedroom duplex penthouses, with sizes ranging from 3,229 to 5,899 sq ft.

Based on caveats lodged, 48 (89%) of units at Park Nova have been sold at an average price of $4,892 psf since the project launched in May 2021. At the time, the development made headlines when five units were scooped up after it opened for sale on May 7, 2021, including two of the duplex penthouses. The largest penthouse of 5,899 sq ft fetched $34.44 million ($5,838 psf), which set a new record for the Orchard Boulevard area and remains the highest-priced transaction at the development. The other penthouse, measuring 4,499 sq ft, sold for $26 million ($5,784 psf).

Park Nova is slated to be completed in 2024.

Check out the latest listings near Pullman Residences Newton, Grange Residences, Park Nova, Newton MRT Station

Tags: