Sanctuary@Newton hits new psf-price high of $2,835

/ EdgeProp Singapore |

July 18, 2024 11:19 AM SGT

Among condos that achieved new psf-price highs during the period of June 25 to July 5, boutique development Sanctuary@Newton topped the list with a new high of $2,835 psf. This comes with the developer sale of a 1,216 sq ft, four-bedroom unit on the 12th floor for $3.45 million on July 2.

The new high marks the first time a unit at Sanctuary@Newton has transacted above $2,800 psf. It beats the previous record price of $2,722 psf set at the condo with the sale of a 1,055 sq ft unit for $2.87 million on June 20.

The new high at Sanctuary@Newton came with the sale of a 1,216 sq ft unit for $3.45 million on July 2 (Picture: ASK Development)

Sanctuary@Newton is a 38-unit freehold development located at 2 Surrey Road, off Newton Road in District 11. The 15-storey block, which is under construction, is within walking distance of the Newton MRT Interchange Station (on the Downtown and North-South Lines), as well as other amenities such as Newton Food Centre and United Square Shopping Mall. Units at the condo include two-bedders from 775 to 1,023 sq ft; three-bedders of 1,023 to 1,055 sq ft; and four-bedders of 1,130 to 1,249 sq ft. The condo is expected to be completed in 2025.

Search for the latest New Launches, to find out the transaction prices and available units

Caveats lodged with URA show that the condo logged its first and sole sale last year when a 1,054 sq ft unit fetched $2.71 million ($2,571 psf) on July 26. This year, eight units have been taken up to date at an average price of $2,684 psf.

Another boutique freehold development, Loft@Holland on Holland Road, also hit a new psf-price peak during the period in review. A 323 sq ft, one-bedroom unit on the fourth floor changed hands for $878,000 on July 1, which translates to $2,719 psf. This surpasses the previous high established a year ago when another 323 sq ft unit was sold for $868,888, or $2,691 psf.

The unit sold on July 1 was purchased by the seller in March 2017 for $720,000, which means they made a gross gain of $158,000 on the deal. It is the second resale transaction registered at the condo so far this year, after the sale of a 334 sq ft unit for $858,888 ($2,574 psf) on Feb 2.

Loft@Holland achieved a new high of $2,719 psf when a 323 sq ft unit fetched $878,000 on July 1 (Picture: Samuel Isaac Chua/The Edge Singapore)

Completed in 2014, Loft@Holland is a freehold condo close to Holland Village in prime District 10. The five-storey development is a short walk from the Holland Village MRT Station on the Circle Line. Units consist mostly of one-bedroom apartments of 323 to 484 sq ft, along with four one-bedroom-plus-study penthouses of 1,044 to 1,141 sq ft.

Artra ranked third among condos that saw a new psf-price peak during the period in review. A three-bedroom unit measuring 1,227 sq ft on the 37th floor fetched $2.99 million on July 3, which works out to $2,433 psf. This inches past the previous high of $2,404 psf established with the sale of a 1,227 sq ft apartment for $2.95 million last December. It is also only the second time a unit at Artra has been transacted above $2,400 psf.

A 1,227 sq ft unit at Artra was sold for $2.99 million on July 3, setting a new high of $2,433 psf (Picture: Samuel Isaac Chua/The Edge Singapore)

Artra is a 99-year leasehold condo at 10 Alexandra View, adjacent to the Redhill MRT Station on the East-West Line in District 3. Completed in 2020, the development has 400 units and 16 commercial lots housed in a single 44-storey tower. Units comprise two-bedroom-plus-study units of 786 to 829 sq ft; three-bedroom units of 1,044 to 1,119 sq ft; and three-bedroom-plus-study units of 1,227 to 1,410 sq ft. There are also five-bedroom units of 2,583 sq ft.

Apart from the apartment sold on July 3, seven other units at Artra have been sold to date this year. The units, spanning 786 to 1,119 sq ft, were sold at an average price of $2,323 psf.

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

Check out the latest listings for Sanctuary@newton, Loft@holland, Artra properties

Tags: