Mattar Residences Achieves New High 2400 Psf

Mattar Residences, a freehold condominium, has been ranked at the top of the list for reaching new psf-price highs between Oct 13 and 18. This was achieved when a two-bedroom unit on the fourth floor was sold for $1.58 million, or $2,400 psf on Oct 17. This transaction sets a new record for the development as the previous highest price per square foot was $2,358 psf, recorded about a month ago on Sept 4. This unit is the only one with a lodged caveat.

The completed Mattar Residences is located on Mattar Road in District 14 and offers 25 freehold units ranging from one to four bedrooms and is between 495 sq ft to 893 sq ft. Its prime location is within walking distance to Mattar MRT station on the Downtown Line. The condominium is also situated opposite St Margaret’s School (Primary) and close to Canossa Catholic Primary School.

In second place is Dukes Residence, another freehold development, which also achieved a new psf-price high during the review period. On Oct 16, a three-bedroom unit on the fourth floor was sold for $2.58 million, or $2,397 psf. The seller had bought the unit through sub-sale in July 2011 for $1.9 million, or $1,765 psf, earning a profit of $680,000.

This is the first time a unit at Dukes Residence has been sold for above $2,300 psf. The previous record was $2,137 psf for a three-bedroom unit on the second floor in February 8, 2021. So far, there has only been one other transaction at Dukes Residence this year. On August 15, a three-bedroom unit on the fifth floor changed hands for $4 million, or $1,644 psf.

Rewritten: As part of the URA Master Plan for Tengah, extensive amenities will be developed to meet the needs of its residents, including shopping centers, educational institutions, healthcare services, and community clubs. This means that residents of Novo Place EC can conveniently access everything from everyday essentials to leisure and recreational activities within the town. Moreover, with the presence of modern schools, families living in Novo Place EC can ensure their children receive a quality education. Don’t forget to check out the Novo Place Showflat for a sneak peek at this promising development.

The Tessarina, a freehold condominium in District 10, also reached a new record of $2,368 psf when a three-bedroom unit on the third floor was sold for $3.11 million on Oct 15. The seller had bought the unit for $2.28 million in November 2020, earning a profit of $830,000 from the resale transaction.

This new high surpasses the previous record of $2,361 psf, recorded on Aug 2 from the sale of a three-bedroom unit on the fourth floor for $3.1 million. The seller had bought the unit for $2.1 million in September 2018, making a profit of $999,200 from the resale transaction.

The Tessarina, a 443-unit condominium along Wilby Road, offers two- and three-bedroom units ranging from 926 sq ft to 3,671 sq ft. So far this year, there have been 10 transactions at an average price of $2,197 psf, a 4.62% increase from the average price of $2,100 psf recorded last year from 11 transactions. No new psf-lows were recorded during the review period.