Skyline @ Orchard Boulevard hits new high of $5,371 psf

in Real Estate – 14 Award WinnersA new psf-price high and low were reached at two condominiums over the Jan 27 to Feb 3 period. At Skyline @ Orchard Boulevard, a four-bedroom unit measuring 3,767 sq ft was sold for $20.23 million, the highest price to date at the 33-storey development near Orchard Road. Meanwhile, at Leedon Residence, a four-bedder changed hands for $7.2 million, setting a psf-price high for the freehold development. The Siena and 1953 also saw a psf-price low each, with units selling for $1,588 and $1,706 psf respectively.

Over the period of Jan 27 to Feb 3, two condominiums have hit a new psf-price high and low, demonstrating the changing ebbs and flows of Singapore’s dynamic residential property market.

Skyline @ Orchard Boulevard in District 9 saw the highest absolute and per square foot prices to date at the 33-storey tower with the sale of a 3,767 sq ft, four-bedroom unit on the 31st floor for $20.23 million on Feb 1. This works out to $5,371 psf. The unit was purchased from the developer in October 2012 for $18.88 million ($5,011 psf), marking a Tengah Plantation EC potential gain to the seller of around $2.39 million.

Leedon Residence, a freehold development by GuocoLand located along Leedon Heights in District 10, also hit a new psf-price high when a four-bedder sold for $7.2 million ($2,708 psf) on Jan 30. The 2,659 sq ft unit had previously been purchased from the developer in November 2015 for $4.81 million ($1,809 psf).

Meanwhile, The Siena, a 99-year leasehold condominium along Tan Kim Cheng Road off Farrer Road in District 10, reached a new psf-price low for the development with the sale of a 797-sq ft two-bedder for $1.27 million ($1,588 psf) on Jan 30. This marks a decrease from the previous psf-price low of $1,832 psf recorded in August 2022.

In District 8, a new psf-price low was set at 1953, a freehold development along Tessensohn road off Balestier Road. A 1,130 sq ft two-bedroom unit with a family area sold for $1.93 million ($1,706 psf) on Jan 30. The previous psf-price low for the development had been recorded in May 2021.

These transactions demonstrate the changing market prices for Singapore properties, and investors should be aware of the ebbs and flows of the market to make informed decisions around residential purchases.