Three-bedroom at The Riverine By The Park fetches record high price of $2,132 psf
By Jennifer Venkat
/ EdgeProp Singapore |
SINGAPORE (EDGEPROP) - A three-bedroom unit on the 20th floor of The Riverine By The Park in District 12 was sold for $2.57 million ($2,132 psf) on March 27. This marks a new psf-price high for this development. This transaction also tops the list of record psf-price highs achieved during the week of March 24 to 31.
A three-bedroom unit on the 20th floor of The Riverine By The Park in District 12 was sold for $2.57 million ($2,132 psf) on March 27 (Picture: Samuel Isaac Chua/The Edge Singapore)
The sale on March 27 marks the first time that a unit in the development has changed hands for more than $2,100 psf. The previous record high at the condo was the sale of another four-bedroom unit on the 18th floor that fetched $3.15 million ($1,774 psf) when it was sold on May 7, 2021.
The Riverine By The Park is a freehold apartment consisting of 96 units. Completed in 2010 by WingTai Holdings, the development is near Kallang MRT station. Schools such as Bendemeer Primary School and Farrer Park Primary School are within 2km of the property. Situated near the Kallang River, it is a riverfront property that has a unit mix of two- to four-bedroom units ranging 980 sq ft to 2,885 sq ft.
The resale transaction on March 27 was the first in the development for this year. There were a total of seven resale transactions at the condo last year, and the most expensive unit sold was a 2,260 sq ft unit on the 29th floor at $4 million ($1,770 psf). Prices for Riverine By The Park have increased from $1,481 psf in April 2013 to $1,918 psf in April 2023.
The second highest psf-price high during the week was the sale of a three-bedroom unit on the 15th floor of The Shore Residences. It was sold for $2.32 million ($2,033 psf) on March 27. The previous record was achieved by a three-bedroom unit that fetched $2.12 million (1,854 psf) on July 29, 2022.
The Shore Residences is a 103-year leasehold condominium on Amber road (Picture: The Edge Singapore)
The Shore Residences is a condo with a land tenure of 103 years that started in 2009. Situated on Amber Road in District 15, the project was completed in 2014 and has a total of 408 units. It is near Marine Parade MRT Station on the East-West Line. Schools such as Haig Girl’s School and Tanjong Katong Primary School are within 1 km of the project. Amenities such as Katong Shopping Centre and Marine Parade Central Market and Food Centre are also close by.
The Shore Residences features a mix of one- to five-bedroom units ranging from 592 sq ft to 2,906 sq ft. The March 27 resale is the second transaction to occur so far this year. The first resale this year occurred on Jan 11 and involved a 1,377 sq ft on the 13th floor that was sold for $2.61 million ($1,894 psf).
On the other hand, the transaction that garnered the lowest psf-price for a development during the week was a 614 sq ft, one-bedroom unit at Irwell Hill Residences, which was sold for $1.4 million ($2,282 psf) on March 26. Previously, the record low went to the sale of a similar-sized one-bedroom unit that was sold for $1.6 million ($2,519 psf) on March 25.
Irwell Hill Residences was launched in April 2021, and is about 95% sold to date (Picture: Samuel Isaac Chua/The Edge Singapore)
Irwell Hill Residences is a 99-year leasehold condo that was launched for sale in April 2021. The property is developed by City Developments (CDL) and features a mix of one- to six-bedroom units. The 540-unit project sold 50% of its total units during its launch over the April 10-11 weekend.
The project is near Great World MRT Station on the Thomson-East Coast Line, and is within 1km of schools such as Alexandra Primary School and River Valley Primary School. Notable luxury condos in the area include Horizon Towers, New Futura and OUE Twin Peaks.
According to developer sales data, Irwell Hill Residences is about 95% sold to date. The most expensive unit sold there so far is a 2,185 sq ft, four-bedroom unit that transacted for $9 million ($4,123 psf) in April 9 2021. — with additional reporting by Timothy Tay
Check out the latest listings near The Riverine By The Park, The Shore Residences, Irwell Hill Residences, Horizon Towers, New Futura, OUE Twin Peaks, Kallang MRT station, Great World MRT Station, Marine Parade MRT Station, Bendemeer Primary School, Farrer Park Primary School, Haig Girl’s School, Tanjong Katong Primary School, Alexandra Primary School, River Valley Primary School
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