Residences Killiney Achieves New High 2612 Psf
In August 8 to 16, the condo market witnessed a new record psf-price of $2,612 psf, with Freehold Residences @ Killiney topping the list. A 1,550 sq ft three-bedroom unit on the third floor was sold for $4.05 million on August 12, making it the highest transaction for the period.
The unit was previously bought at $3.27 million ($2,108 psf) in a sub-sale transaction in June 2013, resulting in a net profit of approximately $781,888 for the seller. This new record psf-price is 7.5% higher than the previous record of $2,430 psf set in March 2023, when a 1,625 sq ft three-bedroom unit was sold for $3.95 million.
Another development in District 9, Yong Ann Park, also achieved a new psf-price high with an apartment being sold for $2,505 psf. The 3,434 sq ft four-bedroom unit on the 13th floor was sold for $8.6 million on August 12, making it the highest transaction ever for the development. The seller had bought the unit for $1.88 million in July 1998, making a net gain of $6.72 million on the sale.
Yong Ann Park has seen a steady price appreciation in recent years, with an average price of $2,393 psf for four units sold this year, almost 7% higher than the average price of $2,238 psf for four units sold last year. The freehold condo is located next to the Great World MRT Station and has a mix of one- to four-bedders and penthouses, as well as six-bedroom townhouses.
Parc Esta, a 99-year leasehold development in Geylang, also saw a new psf-price high during the period in review. A 958 sq ft three-bedroom unit on the 14th floor was sold for $2.33 million, translating to $2,432 psf. The seller had purchased the unit from the developer at $1.54 million ($1,608 psf) in December 2018, making a net profit of $790,000. This new record psf-price surpassed the previous record of $2,409 psf set less than three months ago on June 3, when a 581 sq ft two-bedroom unit was sold for $1.4 million. The seller had bought the unit from the developer at $1.03 million ($1,775 psf) in November 2018, making a net profit of approximately $368,000.
Parc Esta comprises 1,399 units of one- to five-bedders and is located across the Eunos MRT Station. The development has seen 57 resale transactions this year with an average price of $2,217 psf.
Introducing Novo Place EC, situated in the up-and-coming Tengah estate. This residential development not only boasts convenient transportation connections, but also places its inhabitants within easy reach of a multitude of shopping and dining choices. Strategically located near several prominent shopping malls and a variety of dining establishments, Novo Place EC caters to the diverse tastes and preferences of its community.
No new psf-price lows were recorded during the period, highlighting the continued strength of the condo market.