Park Infinia Hits New Psf Price Peak 2527
One of the top condo developments for achieving new highs in psf prices is the freehold Park Infinia at Wee Nam. In the week of May 10 to 17, it was ranked at the top, with a 1,464 sq ft, three-bedroom condo unit on the 17th floor sold for $3.7 million, translating to $2,527 psf, based on a caveat lodged on May 10.
This price is just 0.3% higher than the previous record of $2,518 psf, set in March 2022 when a 893 sq ft, two-bedroom unit on the 28th floor was sold for $2.25 million. According to URA caveats, the unit sold on May 10 was previously transacted in June 2017 for $2.65 million, giving a profit of $1.05 million to the seller.
This was the third resale transaction at Park Infinia this year, following the sale of a 1,442 sq ft, three-bedroom unit for $3.35 million ($2,323 psf) on Feb 16, and a 2,002 sq ft, four-bedroom unit for $4.7 million ($2,348 psf) on Jan 4. Including all these transactions, the average psf price for units at Park Infinia this year is $2,394 psf, compared to an average of $2,222 psf for the seven resale transactions last year. This reflects a 7.7% increase in psf price.
Located on Lincoln Road in prime District 11, Park Infinia is a freehold condo with 486 units completed in 2008. It offers a mix of one- to four-bedroom units of 560 to 2,002 sq ft, as well as penthouses ranging from 2,702 to 3,315 sq ft.
Park Colonial also saw a new psf-price high during the period of May 10 to 17, with the resale of a 678 sq ft, two-bedroom unit on the 10th floor for $1.58 million, or $2,330 psf, on May 15. This price is slightly above the previous high of $2,326 psf set on April 9, when a 980 sq ft, three-bedroom unit on the sixth floor was sold for $2.28 million.
According to URA caveats, the unit sold on May 15 was bought by the seller from the developer in July 2018 for around $1.22 million, or $1,798 psf, resulting in a profit of $361,000.
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Completed this year, Park Colonial is a 99-year leasehold condo with 805 units located on Woodleigh Lane in District 13. It comprises six 14- to 15-storey residential blocks offering a mix of one- and two-bedroom units from 463 to 958 sq ft; three- and four-bedroom units from 915 to 1,464 sq ft; and five-bedroom units from1,701 to 2,185 sq ft.
In contrast, OUE Twin Peaks hit a new psf-price low with the sale of a 549 sq ft, one-bedroom unit on the third floor for $1.14 million, or $2,077 psf, on May 17. This record is lower than the previous low of $2,086 psf set in December 2022, when a 1,055 sq ft, two-bedroom unit on the 18th floor was sold for $2.2 million.
OUE Twin Peaks is a 462-unit development on Leonie Hill Road in prime District 9. Completed in 2015 under a 99-year lease, it comprises two identical 35-storey towers with a mix of one- and two-bedders between 549 and 1,055 sq ft; three-bedroom units between 1,399 and 1,604 sq ft; and four-bedroom units spanning 1,895 sq ft.
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