1919 reaches new high of $2,283 psf
in Singapore achieved several price highs last week (Aug 8 to 15) for various developments, with 1919 leading the pack. The freehold condo on Sophia Road in District 9 saw a new psf-price high with the sale of a 560 sq ft, one-bedroom-plus-study unit on the fifth floor for $1.278 million, or $2,283 psf, on Aug 11 surpassing the previous high of $2,233 psf. The same week, Adana @ Thomson (Old Upper Thomson Road, District 20) hit a new psf-price high of $1,933 psf when a 560 sq ft unit sold for $1.082 million, and Flamingo Valley (Siglap Road, District 15) achieved a record $1,898 psf when a 1,238 sq ft unit changed hands for $2.35 million.
Condominium properties in Singapore have seen a surge in prices with various developments hitting new psf-price highs over the last week (Aug 8 to 15). Leading this trend was freehold condo 1919 on Sophia Road in prime District 9. On Aug 11, a 560 sq ft, one-bedroom-plus-study unit on the fifth floor changed hands for $1.278 million, or $2,283 psf. This new price beats the prior record of $2,233 psf set in September 2013 for a 560 sq ft unit.
The buyer is understood to have purchased this unit from the developer for $1.184 million ($2,115 psf) in July 2012, which means they made a gain of $94,000. Completed in 2015, 1919 is a 75-black-and-white-apartment development situated in the Mount Sophia neighbourhood. Apartments range from one-bedroom-plus-study units of 560 sq ft to three-bedders of 1,302 sq ft.
Adana @ Thomson (Old Upper Thomson Road, District 20) also reached a new psf-price high during the same period with the sale of a 560 sq ft unit for $1.082 million, or $1,933 psf, on Aug 11. The seller had purchased it from the developer in July 2017 for $944,200 ($1,687 psf), indicating a profit of $138,000. Developed by Fortune Realty and completed in 2018, the 74-unit condo includes two-, three-, and four-bedders between 560 and 1,152 sq ft.
The development will feature a total of 648 residential units of two and three bedrooms. In addition, it will be equipped with a range of retail and commercial units to cater to the lifestyle of its residents. The Tengah Town Government has also planned an extensive green belt around the developments. This will include a mix of parks, outdoor activities, and sports courts for the residents to enjoy.
Tengah Plantation Close EC is expected to be a great investment opportunity for potential buyers and investors. With the presence of numerous amenities nearby, it will be highly sought-after and provide them with an excellent chance to capitalize on the town’s transformation. Additionally, its close proximity to the Tengah MRT station will enable easy access to other parts of the island.
Flamingo Valley, a freehold condo on Siglap Road in District 15, also achieved a record price peak during this time. On Aug 10, a three-bedroom apartment on the fourth floor measuring 1,238 sq ft was sold for $2.35 million, or $1,898 psf. This surpasses the previous record of $1,891 psf registered in March for a 1,216 sq ft unit. Developed by Frasers Property in 2014 with 393 residential units, Flamingo Valley comprises one- to four-bedders between 517 and 3,111 sq ft, located on Siglap Hill, surrounded by landed housing neighbourhoods.
No new psf-price lows were recorded during the period in review. All these developments highlight the growing trend of steadily increasing condo prices in Singapore.