The article has been rewritten as follows:During the week of December 27 to January 3, Commonwealth Towers emerged as the top private non-landed property to set a new psf-price peak. The 99-year leasehold condominium achieved a new record high of $2,460 psf on December 27 with the sale of a 904 sq ft three-bedroom unit on the 40th floor for $2.22 million.This surpasses the previous high of $2,402 psf, established just three months ago in September 2024 when a two-bedroom unit on the 42nd floor was sold for approximately $1.65 million.Commonwealth Towers achieved a new price high of $2,460 psf on December 27 (Photo: Samuel Isaac Chua / EdgeProp Singapore)The average resale price of units at Commonwealth Towers has been on an upward trend for the past three years. In 2022, the project recorded 53 transactions at an average psf-price of $1,971. The following year saw an increase to $2,097 psf across 51 resale transactions. Last year, the development recorded 37 resale transactions at an average price of $2,200 psf, marking an 11.6% increase in average resale prices since 2022.Read also: The Continuum sets new high of $3,091 psfAdvertisementAdvertisementLatest resale transactions at Commonwealth Towers (Source: URA, EP Buddy)By absolute price, the most expensive unit to change hands at Commonwealth Towers was a 1,302 sq ft, four-bedroom unit on the 39th floor that sold for $2.96 million, or $2,273 psf in November 2024.Completed in 2017, Commonwealth Towers is a 99-year leasehold condominium with approximately 87 years remaining on its tenure. Located along Commonwealth Avenue, the development comprises two 43-storey residential blocks with a total of 845 units. The units range from one to four bedrooms and have sizes ranging from 441 sq ft to 1,302 sq ft.Freehold development Parq Bella takes the second spot among private residential projects to achieve a new psf-price peak during the review period. The upcoming development set a new record of $2,416 psf when the developer sold a 1,076 sq ft, three-bedroom unit on the fourth floor for around $2.6 million on December 31. This was also the first unit at the development to transact for more than $2,400 psf.Artist’s impression of Parq Bella, a 20-unit boutique freehold development located on Tembeling Road in District 15 (Image: Kims Land @ E C)This exceeds the previous psf-price record of $2,385 set in August 2023 when a two-bedroom fourth-floor unit measuring 926 sq ft was sold for around $2.2 million.Parq Bella, a freehold development located on Tembeling Road in District 15, comprises 20 apartments ranging from two to four bedrooms. The floor plans have sizes ranging from 926 sq ft to 1,787 sq ft. The project is expected to be completed by December 2026.The boutique development registered five new sale transactions last year at an average price of $2,347 psf. Since its launch in 3Q2023, Parq Bella has sold 19 out of its 20 units (95%) at an average price of $2,244 psf based on caveats lodged as of January 14.Read also: Is it a Good Deal?: $1.125 million for an almost new four-room HDB flat along Dawson RoadAdvertisementAdvertisementRecent transactions at Parq Bella (Source: URA, EP Buddy)Freehold luxury development Klimt Cairnhill was the only private residential project to see a new psf-price low during the review period. The new psf-price floor was set by the developer’s sale of an 829 sq ft, two-bedroom unit on the 24th floor for $2.55 million on January 3. This translates to $3,077 psf.Located along Cairnhill Road in Prime District 9, Klimt Cairnhill comprises 138 apartments in two- to four-bedroom configurations (Photo: Samuel Isaac Chua / EdgeProp Singapore)The two-bedroom unit is the last unit sold at Klimt Cairnhill, a 138-unit freehold development that achieved 100% sales at an average price of $3,665 psf based on lodged caveats. The project was previewed in August 2021 and officially launched in January 2023.Located along Cairnhill Road in Prime District 9, Klimt Cairnhill has a mix of two- to four-bedroom apartments with sizes ranging from 829 sq ft to 2,368 sq ft. There are also two penthouses measuring 4,898 sq ft and 5,920 sq ft.The development is expected to obtain its Temporary Occupation Permit in April this year. Check out the latest listings for Commonwealth Towers, Condominium propertiesAsk BuddyCondo projects with most profitable transactionsView sale transactions for Commonwealth TowersWhat is the buyer profile for Commonwealth Towers?Past Condo sale transactionsUpcoming new launch projectsCondo projects with most profitable transactionsView sale transactions for Commonwealth TowersWhat is the buyer profile for Commonwealth Towers?Past Condo sale transactionsUpcoming new launch projects
Investing in a condo offers multiple advantages, including the opportunity to leverage the property’s value for additional investments. By using their condo as collateral, many investors are able to secure financing for new investments, thus expanding their real estate portfolio. While this strategy can potentially increase returns, it also comes with its own set of risks. To ensure success, it is crucial to have a solid financial plan in place and carefully consider the potential impact of market fluctuations.