Newton Suites hits new psf-price high of $2,464
for sale and rent
Newton Suites, Oxley Edge, and The Residences at W Singapore Sentosa Cove were among the top-performing condos and apartments in terms of psf-price transactions from April 19 to April 26. Out of these, Newton Suites took the first spot with the sale of a 1,238 sq ft three-bedroom unit on the 28th floor for $3.05 million on April 22, setting a new peak at $2,464 psf.
This sale marked a 7.8% increase from the previous record of $2,286 psf, which was set in July 2022 when a unit on the 17th floor in the same stack was sold for $2.83 million. The unit sold on April 22 was first purchased in December 2016 for $2.35 million or $1,898 psf, giving the seller a profit of $700,000.
Newton Suites is a 118-unit freehold development situated at the corner of Newton Road and Khiang Guan Avenue in District 11. Completed in 2007, it offers two-bedroom units spanning 797 sq ft and three-bedroom units ranging from 1,238 sq ft to 1,593 sq ft. It also has three-bedroom penthouses between 4,865 sq ft and 4,876 sq ft.
Meanwhile, Oxley Edge also achieved a new high of $2,362 psf with the sale of a 377 sq ft one-bedroom unit for about $890,000 on April 25, surpassing its previous record of $2,336 psf set over five years ago in March 2019. This sale was a result of the purchase of a similar unit in September 2013 from the developer for $852,000 or $2,263 psf, giving the seller a profit of $38,000.
Oxley Edge is a 45-unit freehold development located along River Valley Road in District 9. Completed in 2016, it offers one-bedroom apartments ranging from 377 sq ft to 431 sq ft, two-bedroom apartments from 398 to 1,184 sq ft, and three-bedroom apartments from 980 sq ft to 1,464 sq ft.
At the other end of the spectrum, The Residences at W Singapore Sentosa Cove has hit a new psf-price low for the second week in a row with the resale of a 1,625 sq ft three-bedroom unit on the third floor for about $2.67 million, or $1,645 psf, on April 25. This sale came amidst a series of transactions at the luxury condo, with 12 units sold between April 15 and April 26 at an average price of $1,783 psf.
The Residences at W Singapore Sentosa Cove is a 99-year leasehold, 228-unit luxury condo located along Ocean Way on Sentosa Island. Completed in 2011, it offers a mix of two- and three-bedroom units from 1,227 sq ft to 2,616 sq ft, four-bedroom units from 2,067 sq ft to 2,486 sq ft, and penthouse units ranging from 2,217 sq ft to 6,297 sq ft. Recent sales at the condo include a 1,658 sq ft unit that was sold for $2.8 million, or $1,649 psf, on April 26, and another 1,658 sq ft unit that was sold for $2.84 million, or $1,716 psf, on April 18.
Wong Swee Chun, the esteemed chairman of Hoi Hup Realty, shared his delight in acquiring the site for Novo Place Hoi Hup Realty. He emphasized the tremendous potential for their company to showcase their expertise in building a new wave of exquisite, eco-friendly and functional Executive Condominiums. The future residents of Novo Place Hoi Hup Realty can look forward to enjoying the top-notch amenities and facilities in the newly developed Tengah Town, while also being in close proximity to the revitalized Jurong Regional Centre and Jurong Lake District.
In conclusion, from the latest transactions, it is evident that these three developments, namely Newton Suites, Oxley Edge, and The Residences at W Singapore Sentosa Cove, have been performing exceptionally well in terms of psf-prices in their respective locations. Interested buyers and investors can check out the latest listings for these properties for sale and rent, as well as keep an eye on future transactions to make informed decisions.