Three-bedder at freehold Parvis sold at new high of $2,517 psf
/ EdgeProp Singapore |
Ask Buddy
SINGAPORE (EDGEPROP) - Freehold development Parvis topped the list of condos that hit a new psf-price high in the period between Sept 20 and 28. The new high of $2,517 psf came from the sale of a 1,701 sq ft, three-bedroom unit on the seventh floor for $4.28 million on Sept 25.
The seller had bought the unit from the developer for $25.8 million ($1,517 psf) in January 2010. Thus, the seller netted a profit of $1.7 million on the Sept 25 sale.
This is the first time a unit at Parvis was sold for more than $2,500 psf. The transaction surpasses the previous record of $2,490 psf that was set in May 2023, when a 1,991 sq ft four-bedroom unit was sold for about $4.96 million.
Parvis has seen four resale transactions so far this year at an average price of $2,454 psf. This is 6% higher than last year’s average price of $2,315 psf from seven transactions.
Parvis is a 248-unit freehold condo on Holland Hill in prime District 10, Bukit Timah (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Completed in 2012, Parvis is a 248-unit freehold condo on Holland Hill in prime District 10. The project consists of a 12-storey building that houses a mix of two- to four-bedroom apartments. Unit sizes start from 990 to 1,442 sq ft for two-bedroom apartments, and between 1,701 and 2,605 sq ft for three- and four-bedroom apartments. There are also three- and four-bedroom penthouses occupying from 2,293 sq ft to 3,229 sq ft. The development is a five-minute walk to Holland Village MRT station on the Circle Line.
Another freehold development, Forett At Bukit Timah, also saw a new psf-price high during the period in review. The condo achieved $2,489 psf when a 570 sq ft, one-bedroom unit on the seventh floor was sold in a sub-sale transaction for $1.42 million on Sept 23. The seller had bought the unit from the developer for $1.19 million in December 2020, making a net profit of $233,000.
Forett At Bukit Timah saw a new high of $2,489 psf when a 570 sq ft unit was sold for $1.42 million on Sept 23 (Photo: Samuel Isaac Chua/EdgeProp Singapore)
The psf-price from the Sept 23 sale beats the previous record of $2,440 psf that was set earlier this year on Aug 15, when a 721 sq ft, two-bedroom unit on the same floor changed hands in a sub-sale transaction for $1.76 million, or $2,440 psf. The seller bought the unit from the developer at $1.43 million ($1,983 psf) in August 2020.
Forett At Bukit Timah has seen 14 transactions to date this year at an average price of $2,296 psf.
The development is a freehold condo located on Toh Tuck Road in District 21, Bukit Timah. Completed this year, the 633-unit development has a mix of one- to five-bedroom units occupying between 474 and 1,884 sq ft.
On the other hand, Up@Robertson Quay saw a new psf-price low of $1,858 psf during the period in review, when a 753 sq ft, two-bedroom unit on the seventh floor was sold at $1.4 million on Sept 24. The seller had bought the unit from the developer at $2.09 million ($2,774 psf) in November 2012. This works out to a net loss of $690,000 on the sale.
Read also: Sky Vue achieves new high of $2,366 psf
The new psf price is 2.31% below the previous record low of $1,902 psf that was set in February 2018 when a 1,378 sq ft two-bedder on the fourth floor was sold for $2.62 million.
The development has seen four transactions so far this year at an average price of $2,075 psf. This is 11% lower than the $2,333 psf recorded from last year’s sole transaction on May 31 — a 463 sq ft, one-bedroom unit on the ninth floor changed hands for $1.08 million.
Up@Robertson Quay saw a new record low of $1,858 psf on Sept 24 (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Completed in 2015, Up@Robertson Quay is a 99-year leasehold condo within the Robertson Quay neighbourhood in District 9. The 70-unit boutique development consists of a 10-storey building that has a mix of one- to two-bedroom units ranging from 463 to 1,378 sq ft.
The development is near River Valley Primary School and Outram Secondary School. It is also close to F&B, lifestyle and entertainment options along Clarke Quay and Boat Quay.
Latest transactions at Up@Robertson Quay (Photo: EdgeProp Buddy)
Ask Buddy
Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp FacebookSubscribe to our newsletter
Top Articles
Search Articles