Freehold Belmond Green Reaches New High 2723 Psf

in the market

Singapore’s Belmond Green on Balmoral Road, a freehold condo, grabbed the top spot on the list of projects with record psf-prices from May 17 to 24. The record was established when a 969 square foot, two-bedroom unit on the eighth floor of the development was sold for $2.64 million, or $2,723 per square foot, as per the caveat filed on May 17. This price is 2.6 percent higher than the previous record psf-price of $2,653, established when a 1,270 square foot, three-bedroom unit was sold for $3.37 million on Feb 26. The apartment was located on the fifth floor of the condo. The seller of the unit on May 17 had purchased the apartment for $1.995 million ($2,059 psf) in January 2021, which means a profit of $643,000 for the seller. According to URA’s caveats, the condo had only three units sold last year at an average psf-price of $2,487. Belmond Green, located in prime District 10, is a freehold condo with 211 units. It was completed in 2004 and comprises of two to four-bedroom units, ranging from 958 to 2,519 square feet. The average psf-price for transactions at the condo in 2021 stands at $2,641. This is 6.19% higher than the average psf-price of resale transactions at the condo last year. Just behind Belmond Green is Kuie Pong Loft, a freehold condo on 10 Robin Walk, also located in prime District 10. The unit sold for a record psf-price of $2,483, for a 1,453 square foot, three-bedroom apartment at $3.608 million on May 20. This is only the second transaction recorded at the condo, with the previous one being the sale of a similarly sized three-bedroom unit on January 2017, which was sold for $1.8 million, or $1,239 psf. This development is just 100m away from the upcoming Stevens MRT Station, which serves the Downtown Line and the Thomson-East Coast Line. It is also within walking distance of Singapore Chinese Girls’ Primary and Secondary Schools. The Myst, on the other hand, saw a record low psf-price sale among the list of condos that saw record lows during the period in review. On May 17, a 1,163 square foot, three-bedroom apartment was sold for $2.202 million, or $1,894 psf. This is just slightly lower than the previous record low psf-price of $1,896, when a similarly sized three-bedroom unit was sold for $2.204 million on May 3. The most recent sale at The Myst, as of the time of writing, took place on May 26. A 700 square foot, two-bedroom unit was sold for $1.64 million, or $2,338 psf. The Myst is located on 802 Upper Bukit Timah Road in Bukit Panjang, District 23. It is still under construction and is scheduled for completion by 2029. It is a 99-year leasehold development with 408 units of one-bedroom-plus-study to four-bedroom units, ranging from 517 to 1,690 square feet. When it launched in July last year, The Myst sold 27 percent of its units at an average price of $2,057 psf.

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