Royalgreen hits new high of $2,948 psf
/ EdgeProp Singapore |
SINGAPORE (EDGEPROP) - In this column, we look at condominium projects that have achieved new highs in terms of psf prices and those that have seen new lows. This is based on URA Realis data for the period of March 6 to March 15.
Highest psf price
The highest transaction recorded on a psf basis was for a 721 sq ft, two-bedroom unit at Royalgreen. The freehold unit on the fifth floor changed hands for $2.13 million or $2,948 psf on March 8.
See also: Royalgreen sees new high of $2,939 psf
A unit at Royalgreen sold for $2.13 million or $2,948 psf on March 8 (Photo: Samuel Isaac Chua/The Edge Singapore)
Royalgreen is located on Anamalai Avenue, just off Bukit Timah Road and Sixth Avenue in prime District 10. The project is also within close proximity to Sixth Avenue MRT Station on the Downtown Line as well as top schools such as Hwa Chong Institution, Nanyang Primary School and Methodist Girls’ School.
Completed last year, Royalgreen has a total of 285 units across eight five-storey blocks. Units here comprise two- to four-bedroom apartments that measure from 635 sq ft to 1,475 sq ft. To date, 68% of Royalgreen’s units have been sold at an average price of $2,731 psf, based on caveats lodged.
Royalgreen is the final project in developer Allgreen Properties’ The Bukit Timah Collection, which has a total of three projects. The other two are the 476-unit Fourth Avenue Residences, a 99-year leasehold condo fronting the Sixth Avenue MRT Station, and the 115-unit, freehold Juniper Hill on Ewe Boon Road. (Discover insightful data of any Singapore condominium with our condo directory)
Another development that hit a new psf price high is Centennia Suites. A 1,238 sq ft, two-bedroom unit on the first floor sold for $3.6 million or $2,908 psf on March 7.
A unit at Centennia Suites sold for $3.6 million on March 7 (Photo: Samuel Isaac Chua/The Edge Singapore)
Centennia Suites is a freehold development located along Kim Seng Road in District 9. The 36-storey tower houses 97 units made up of two-, three- and four-bedroom apartments. The project was developed by Lippo Group and completed in 2013.
The unit sold on March 7 was previously acquired in April 2010 for $2.42 million ($1,954 psf). The transaction thus netted the owner a gain of $1.18 million.
The property overlooks the Singapore River and is located within walking distance to Great World City shopping mall and the upcoming Great World and Havelock MRT Stations on the Thomson-East Coast line.
New lows
Elsewhere, Phoenix Residences hit a new psf price low of $1,451 psf after a 1,367 sq ft unit was sold for $1.98 million on March 10. The unit sold is located on the fourth floor of the 99-year leasehold tower which is currently under construction.
Phoenix Residences is located along Phoenix Avenue in District 23’s Bukit Panjang area. Developed by USB (Phoenix), a subsidiary of transport infrastructure and civil engineering group OKP Holdings, the project has a total of 74 units housed in three blicks spanning five storeys each.
To date, 46% of units at Phoenix Residences have been sold at an average price of $1,505 psf, based on caveats lodged. The development is scheduled for completion in 2024.
The site is a five-minute walk away from the Phoenix LRT station while the Bukit Panjang MRT Station is around a 10-minute walk away. Malls in the vicinity include Junction 10, Bukit Panjang Plaza and Hillion Mall.
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