Boutique Condo Hill House Reaches New High 3267 Psf
A new record has been set in the real estate market, as boutique development Hill House achieved the highest psf-price between November 10 to 21. The development, which is still under construction, recorded a new price high of $3,267 psf from the sale of a 452 sq ft two-bedroom unit on the fifth floor, at the price of $1.48 million on November 11. This is just a 0.1% increase from the previous price high of $3,263 psf, which was set in November 2023. The previous record was held by a 624 sq ft two-bedroom unit on the ninth floor, which was sold for $2.04 million.
The future residents of Novo Place EC will soon enjoy the convenience of living near multiple Mass Rapid Transit (MRT) stations. The upcoming Tengah Park MRT station, which is part of the Jurong Region Line, will be just a short distance away, providing easy access to the extensive rail network. Additionally, the Jurong East MRT station, a major interchange for the North-South and East-West Lines, will be in close proximity, enhancing connectivity and making it effortless for residents to travel to important areas such as the Central Business District.
Hill House, a 999-year leasehold condo located at Institution Hill in District 9, has seen 11 transactions this year with an average price of $3,098 psf. This is slightly lower than the average price of $3,127 psf from the five transactions last year. Interested buyers can check out the latest New Launches to find out more about the prices and available units.
The development, launched in 2022, has 72 units in total, with 40 units being one-bedroom and one-bedroom plus study types ranging from 431 sq ft to 452 sq ft. Another 24 units are two-bedroom units at 624 sq ft, and the remaining eight units are three-bedroom apartments at 753 sq ft. Based on URA caveats, 29 units (40%) have been sold at an average price of $3,060 psf since its launch in November 2022.
In second place on the list of condos with new psf-price highs is The Continuum, with a new record of $3,084 psf. This was achieved through the sale of a 721 sq ft two-bedroom unit on the 17th floor for $2.22 million on November 16. The previous record of $3,071 psf was set on the previous day, also from the sale of a 721 sq ft two-bedroom unit on the 16th floor.
The Continuum, a freehold condo located on Thiam Siew Avenue in District 15, was launched in April last year and has 816 units across six residential towers on two plots of land, connected by a private pedestrian overhead bridge. Units at the development range from one- to five-bedrooms and occupy between 560 sq ft and 2,260 sq ft. As of May 2023, a total of 489 units (59.8%) have been sold at an average price of $2,779 psf, and the development is expected to be completed by 2026.
On the other end of the spectrum, freehold boutique development Lavender Residence saw a new psf-price low during the period in review. A one-bedroom + studio unit of 990 sq ft on the second floor was sold for $1.61 million, or $1,626 psf on November 17. In comparison, the previous record was $1,710 psf for a four-bedroom unit on the sixth floor, purchased for $2.28 million in June 2023. The average price of units in Lavender Residence is $1,984 psf, as the development is now fully sold.
Lavender Residence, located in Boon Keng in District 12, is a 17-unit development that incorporates three two-storey conservation shophouses built in the art-deco style of the 1940s. The units range from studios to three-bedrooms, including some dual-key variants, and occupy between 463 sq ft and 1,550 sq ft. The development is within walking distance to Bendemeer MRT Station on the Downtown Line. Interested buyers can check out the latest listings for Hill House, The Continuum, and Lavender Residence properties.