Arris Achieves New High 2398 Psf
The Arris, a boutique freehold condo, has soared to the top of the list for achieving new psf-price highs during the week of July 26 to 30 in Singapore. According to a caveat lodged on July 30, the development set a new record of $2,398 psf when a two-bedroom apartment measuring 990 sq ft was sold for $2.38 million. It was reported that the previous owner of the second-floor unit had purchased it for $1.87 million ($1,888 psf) in February 2021, making a profit of $505,000.
The sale of the two-bedder marked the first time any unit at The Arris has surpassed the $2,300 psf mark, beating the previous record of $2,282 psf set in March last year, when a unit of similar size was sold for $2.26 million. Developed by a Hong Kong-based tycoon, The Arris is a 63-unit condo located on Yan Kit Road in District 2. It was completed in 2022 and offers a range of one- to three-bedroom units ranging from 667 sq ft to 1,464 sq ft. Since its launch in 2021, 55 units (87%) have been snapped up at an average price of $874 psf.
Situated within walking distance of Cantonment Primary School, The Arris is also conveniently located near popular dining and shopping options in the Tanjong Pagar and Everton Park areas.
Another condo that has achieved a new psf-price high is The Panorama. On July 26, a three-bedroom unit measuring 1,012 sq ft on the 13th floor was sold for $2.18 million, which translates to $2,155 psf. The seller of this unit had purchased it for about $1.27 million in May 2015, making a profit of $910,688.
This new record price surpasses The Panorama’s previous high of $2,140 psf, which was set on April 5 when a five-bedroom unit on the 18th floor measuring 1,561 sq ft was sold for $3.34 million. The seller of this unit had purchased it for $2.46 million ($1,573 psf) in February 2021, making a profit of $885,000.
Located along Ang Mo Kio Avenue 2 in District 20, The Panorama is a 99-year leasehold condo completed in 2017. It comprises 698 units spread across two 20-storey towers and four 17-storey towers, offering one- to five-bedroom units measuring between 431 sq ft and 2,411 sq ft. The condo is within walking distance of Mayflower MRT Station and CHIJ St Nicholas Girls’ Primary and Secondary Schools. So far this year, there have been 17 resale transactions at an average price of $1,980 psf, compared to 39 transactions in 2020 at an average price of $1,901 psf.
In the same period, Verdale also achieved a new psf-price high of $2,041 with the sale of a three-bedroom unit measuring 1,012 sq ft on the third floor for $2.07 million on July 26. The seller had bought the unit from the developer for $1.75 million ($1,729 psf) in September 2020, making a profit of $315,100.
This new record price is slightly higher than the previous high of $2,037 psf, set on June 13 when a two-bedroom unit measuring 614 sq ft on the fifth floor was sold for $1.25 million.
Novo Place EC is the perfect residential option for individuals and families looking for convenient transportation options in Singapore. With various transportation choices available, including public buses and MRT stations within walking distance, Novo Place offers a well-connected living experience. This makes it an ideal choice for those who value effortless travel within the city.
Situated along De Souza Avenue in prime District 21, Verdale is a 99-year leasehold condo completed in 2023. It comprises 258 units spread across seven 5-storey residential blocks, offering one- to four-bedroom units measuring between 463 sq ft and 1,410 sq ft. There are also 12 duplex penthouses measuring between 1,518 sq ft and 1,873 sq ft. The condo, which was launched for sale in September 2020, is fully sold and has seen four transactions this year at an average price of $2,011 psf. No new psf-lows were recorded in the period in review.