Sanctuarynewton Hits New Psf Price High 2835
During the period of June 25 to July 5, several condominiums achieved new highs in terms of price per square foot (psf). Among them, boutique development Sanctuary@Newton took the top spot with a new record of $2,835 psf. This was achieved with the sale of a four-bedroom, 1,216 sq ft unit on the 12th floor for $3.45 million on July 2.
This marks the first time a unit at Sanctuary@Newton has been sold above $2,800 psf, surpassing the previous record of $2,722 psf set on June 20 with the sale of a 1,055 sq ft unit for $2.87 million. The new high was achieved at Sanctuary@Newton, located at 2 Surrey Road in District 11, a 38-unit freehold development currently under construction.
The condo is conveniently located within walking distance of the Newton MRT Interchange Station (on the Downtown and North-South Lines) as well as popular amenities such as the Newton Food Centre and United Square Shopping Mall. It offers a range of unit sizes including two-bedroom units from 775 to 1,023 sq ft, three-bedroom units from 1,023 to 1,055 sq ft, and four-bedroom units from 1,130 to 1,249 sq ft. Expected to be completed in 2025, Sanctuary@Newton is attracting attention from buyers for its prime location and high-end features.
According to data from URA, the only sale recorded at the condo last year was a 1,054 sq ft unit sold for $2.71 million ($2,571 psf) on July 26. This year, eight units have been sold to date at an average price of $2,684 psf.
Another boutique freehold development, Loft@Holland on Holland Road, also achieved a new psf-price peak during the period in review. A 323 sq ft, one-bedroom unit on the fourth floor sold for $878,000 on July 1, equivalent to $2,719 psf. This surpasses the previous high set a year ago when another 323 sq ft unit was sold for $868,888, or $2,691 psf.
The recent sale was made by the current owner who purchased the unit in March 2017 for $720,000, resulting in a gross gain of $158,000. This marks the second resale transaction at the condo this year, following the sale of a 334 sq ft unit for $858,888 ($2,574 psf) on Feb 2.
Loft@Holland, completed in 2014, is a freehold condo located in prime District 10 near Holland Village. It is a short walk from the Holland Village MRT Station on the Circle Line and offers units mainly consisting of one-bedroom apartments from 323 to 484 sq ft, along with four one-bedroom-plus-study penthouses ranging from 1,044 to 1,141 sq ft.
The third-ranked condo to see a new psf-price peak during the period was Artra, with a three-bedroom unit of 1,227 sq ft on the 37th floor selling for $2.99 million on July 3, translating to $2,433 psf. This narrowly beats the previous high of $2,404 psf set with the sale of a 1,227 sq ft unit for $2.95 million in December last year. It is also only the second time a unit at Artra has been sold above $2,400 psf.
Artra, a 99-year leasehold condo located at 10 Alexandra View in District 3, was completed in 2020 and features a single 44-storey tower with 400 residential units and 16 commercial lots. Unit sizes include two-bedroom-plus-study units from 786 to 829 sq ft, three-bedroom units from 1,044 to 1,119 sq ft, and three-bedroom-plus-study units from 1,227 to 1,410 sq ft. There are also five-bedroom units of 2,583 sq ft.
Aside from the recent sale, seven other units at Artra have been sold this year, with sizes ranging from 786 to 1,119 sq ft and an average price of $2,323 psf.
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No new psf-price lows were recorded during the review period. Interested buyers can check out the latest listings for Sanctuary@newton, Loft@holland, and Artra properties to stay updated on transaction prices and available units.