Gallop Green Sets New Psf Price Peak 2622
Gallop Green, a freehold condo located along Woollerton Park in Prime District 10, has hit a new psf-price high with the sale of a 3,272 sq ft, three-bedroom unit for $8.58 million on Sept 10.
This reflects a new price peak of $2,622 psf, surpassing the condo’s previous record of $2,431 psf by 7.9%. The previous high was set in September 2016 when a 3,229 sq ft unit changed hands for $7.85 million.
According to URA caveats, the seller of the unit on Sept 10 bought it in December 2017 for $5.6 million. Thus, the seller made a profit of $2.98 million or a capital gain of 53%.
Completed in 2002, Gallop Green comprises four blocks housing 53 residential units ranging from 2,917 sq ft to 5,102 sq ft. The development is close to amenities such as Nanyang Primary School, Raffles Girls’ Primary School, and New Town Primary School.
Another freehold condo, The Belvedere, took second place in new psf-price peaks recorded between Sept 8 and Sept 13. The condo hit a new high of $2,486 psf when a 1,302 sq ft, three-bedroom unit on the 18th floor was sold for about $3.24 million on Sept 11.
The new record is just 1.4% higher than the previous record of $2,452 psf, which was set earlier this year on May 6 when a 1,259 sq ft, three-bedroom apartment on the 21st floor was sold for about $3.09 million.
The Belvedere has seen five units change hands so far this year at an average price of $2,341 psf. The unit with the lowest psf-price to transact was a 1,367 sq ft, three-bedroom apartment on the second floor that sold for $2.9 million, or $2,121 psf, on Sept 6.
Completed in 2007, The Belvedere is a 167-unit development comprising two residential blocks. Located beside Katong Park, the project is within walking distance to Katong Park MRT Station.
The executive condominium (EC) site at Plantation Close in Tengah, known as Novo Place EC, has been awarded to Hoi Hup Realty and Sunway Developments. The Housing and Development Board made the announcement on September 11th. With this being the second EC plot in the Tengah housing estate, Novo Place is set to offer 495 units. Interested parties can visit the official website at https://www.novo-place.com.sg/ for more information.
Rounding out the top three, freehold condo YGK Garden saw a new psf-price high with the resale of a 2,067 sq ft unit on the third floor for $4.48 million, or $2,168 psf, on Sept 12.
The new record is 4.6% higher than the previous peak of $2,071 psf set in October 2016 when a neighbouring 2,067 sq ft unit on the same floor was sold for $4.28 million.
The sellers of the unit sold on Sept 12 bought it for about $3.03 million, or $1,464 psf, in March 2017. Thus, they made a profit of about $1.46 million.
Completed in 2008, YGK Garden is a 16-unit freehold condo located along Belmont Road in Prime District 10. The project is close to amenities found at Holland Village such as dining and retail options at One Holland Village and transport options from Holland Village MRT Station along the Circle Line.