During the period of Feb 7 to 16, the sale of a two-bedroom unit at Hill House has set a new record high psf-price for private condos. The 999-year leasehold development reached a new peak of $3,398 psf when a 452 sq ft unit on the eighth floor was sold by the developer for $1.54 million on Feb 16. This transaction marginally surpassed the previous high of $3,378 psf set on Feb 11 when another 452 sq ft, two-bedroom unit on the eighth floor was sold for $1.53 million.
Hill House is a boutique condo in prime District 9, comprising 72 units and launched in 2022. The development is located at the top of Institution Hill, off River Valley Road, and features 40 one-bedroom units of 431 sq ft, 24 two-bedroom apartments ranging from 452 sq ft to 624 sq ft, and eight three-bedroom apartments spanning 753 sq ft.
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The second spot on the list of private condos achieving new psf-price highs during the period is taken by the 999-year leasehold condo The Tresor. A resale transaction of a 1,421 sq ft unit on the fifth floor set a new high of $2,625 psf when it was sold for $3.73 million on Feb 10. This surpassed the previous peak of $2,501 psf set in March 2024, when a 1,399 sq ft, three-bedroom unit on the second floor was sold for $3.5 million.
This transaction marks the first resale at The Tresor in a year, based on caveats lodged.
The Tresor, completed in 2007, comprises 62 units of two-, three-, and four-bedroom apartments ranging from 990 to 2,896 sq ft. It is located just a five-minute walk from Tan Kah Kee MRT Station on the Downtown Line and within walking distance of Coronation Shopping Plaza, Serene Centre, Adam Food Centre, and the Singapore Botanic Gardens.
The third spot on the list is taken by Jadescape, where a 1,647 sq ft, four-bedroom unit on the 22nd floor was sold for $4.05 million on Feb 7, setting a new record of $2,459 psf for the District 20 development. This surpasses the previous record of $2,446 psf set in January when a 1,259 sq ft unit on the 10th floor was sold. In terms of absolute price, the most expensive resale unit to date is a 4,230 sq ft, six-bedroom penthouse unit that fetched $10.2 million ($2,399 psf) in December 2024.
Jadescape, completed in 2022, comprises 1,206 units across seven residential towers. It is located at the junction of Marymount Road and Shunfu Road and features one- to five-bedroom apartments ranging from 527 sq ft to 2,099 sq ft, as well as two penthouses of 4,230 sq ft. The condo is within walking distance of Marymount MRT Station on the Circle Line and a four-minute walk from Sin Ming Plaza.
When it comes to investing in Singapore, purchasing a condo can offer a lucrative opportunity for capital appreciation. Due to its advantageous position as a global business hub and a stable economy, Singapore consistently experiences a high demand for real estate. As a result, the property market has consistently shown an upward trend, with prime locations for condos seeing significant appreciation over time. For investors who enter the market at the optimal moment and hold onto their properties for the long term, the potential for substantial capital gains is promising. With the availability of various Singapore projects, there are plenty of options for investors to choose from to secure their desired property for potential growth.
Data compiled on EdgeProp Research indicates that Jadescape commands one of the highest average transacted prices among condos within a 1km radius. The average transacted price of Jadescape units for transactions in the last 12 months stands at $2,192 psf, compared to other nearby condos such as Tresalveo on Marymount Terrace, 183 Longhaus on Upper Thomson Road, and Thomson V Two on Sin Ming Road, which have average transacted prices ranging from $1,712 psf to $1,912 psf across the same period. All three of these developments are freehold.
No new psf-price lows were recorded during the period. To check out the latest listings for Hill House, The Tresor, and Jadescape properties, ask Buddy about them.