Sky Vue achieves new high of $2,366 psf
/ EdgeProp Singapore |
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SINGAPORE (EDGEPROP) - Sky Vue has topped a list of condos that achieved new psf-price highs for the week of Aug 16 to 23. A 1,141 sq ft three-bedroom unit, which changed hands for $2.7 million, set a new record of $2,366 psf, according to a caveat lodged on Aug 22. The 14th-floor unit was resold for $1.7 million ($1,490 psf) in January 2018, resulting in a profit of $1 million for the seller.
This is the first time a unit at Sky Vue has crossed the $2,300 psf threshold. The previous psf-price high at the condo was $2,225. This came from the sale of a similar-sized three-bedder unit for $2.54 million. Based on caveats lodged, the condo has seen 19 resale transactions at an average price of $2,104 psf this year.
A 1,141 sq ft three-bedroom unit at Sky Vue (front) achieved a new record of $2,366 psf when it changed hands for $2.7 million on Aug 22 (Photo: Samuel Isaac Chua/EdgeProp Singapore)
The 694-unit Sky Vue, completed in 2016, is located along Bishan Street 15 in District 20. The 99-year leasehold condo comprises two 37-storey towers with one- to three-bedroom units occupying spaces between 484 sq ft and 1,259 sq ft.
The condo is within walking distance of Junction 8 at Bishan Place, which offers a variety of retail amenities. The mall is linked to Bishan MRT Station on the North-South Line and the Circle Line and is directly across from the Bishan Bus Interchange.
Meanwhile, freehold condo The Promont also hit a new high of $2,166 psf during the period in review. A 2,077 sq ft, three-bedroom unit on the 17th floor set a new record when it fetched $4.5 million on Aug 16. The seller had purchased the unit for $3.8 million in November 2017. This means they netted a gain of $700,000 on the transaction.
The new high is just 0.2% higher than The Promont’s previous record of $2,161 psf. This follows the resale of a 2,013 sq ft, three-bedder on the 11th floor that changed hands for $4.35 million in April 2022.
A 2,077 sq ft three-bedroom unit on the 17th floor of freehold The Promont fetched $4.5 million ($2,166 psf) on Aug 16 (Photo: Samuel Isaac Chua/EdgeProp Singapore)
The Promont is a freehold boutique condo along Cairnhill Circle in Newton, District 9. The development was completed in 2009 and has 15 units between 2,013 sq ft and 2,077 sq ft. The development is near Anglo-Chinese School (Junior) at Winstedt Road.
On the other hand, freehold boutique condo Liv on Sophia recorded a new low in psf-price during the period in review. A 710 sq ft, two-bedroom apartment was sold for $1.2 million on Aug 22, which translates to $1,689 psf.
The new psf-price is lower than the condo’s previous record of $1,888 psf, when a 678 sq ft, two-bedroom apartment fetched $1.28 million in June 2021. The seller had bought the unit from the developer for $1.54 million ($2,265 psf) in June 2013, netting a loss of $256,000 on the June 2021 transaction.
Read also: One Bernam hits new psf-price high of $3,351
Freehold Liv on Sophia hit a record low of $1,689 psf when a 710 sq ft two-bedroom apartment was sold for $1.2 million on Aug 22 (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Liv on Sophia is a freehold boutique condo along Adis Road in Rochor, District 9. It has 64 units between 527 sq ft and 710 sq ft. It is within walking distance to Dhoby Ghaut MRT Interchange Station on the North-East, North-South and Circle Lines and Bencoolen MRT Station on the Downtown Line. The development is near several educational institutions, including the School of the Arts, Singapore, at Zubir Said Drive.
The condo has seen only two transactions this year. The other transaction involved a 678 sq ft two-bedder sold for $1.35 million ($1,991 psf) on Aug 16.
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