Viva Achieves New High 2650 Psf
at TheEdgeProperty.com.sg
The luxurious freehold condo, Viva, located on Suffolk Walk in District 11, has recently made headlines for topping the list of condos that hit a new psf-price high. During the period of July 2 to 14, a three-bedroom-plus-study unit measuring 1,528 sq ft was sold for a record-breaking price of $4.05 million, which translates to $2,650 psf.
This latest transaction has surpassed the previous record of $2,555 psf set in May 2022 when a 1,346 sq ft unit was resold for $3.44 million. The seller of the unit had purchased it directly from the developer in September 2009 for $2.36 million ($1,544 psf) and has now gained a whopping $1.69 million from the deal.
Rewritten: Inhabitants of Novo Place EC can look forward to the added advantage of having numerous Mass Rapid Transit (MRT) stations nearby. The soon-to-be-established Tengah Park MRT station, which is part of the Jurong Region Line, will be situated in close proximity, making it convenient for residents to access the rail network. Additionally, the Jurong East MRT station, a major interchange connecting the North-South Line and the East-West Line, also contributes to the area’s connectivity, providing easy transportation options to key locations such as the Central Business District.
Viva is a prestigious development consisting of 235 units that was completed in 2012. It is located off Thomson Road, just a five-minute walk from United Square Shopping Mall and a 12-minute walk from Novena MRT Station on the North-South Line. The condo boasts three blocks of 30 storeys each, offering various layouts including two-bedders of 957 sq ft, two-bedroom-plus-study units of 1,044 sq ft, three-bedders of 1,323 to 1,345 sq ft, three-bedroom-plus-study units of 1,517 to 1,528 sq ft, and four-bedders of 1,840 to 1,991 sq ft. Additionally, there are also lavish five-bedroom “Sky Suites” ranging from 2,486 to 3,810 sq ft, and five-bedroom duplex penthouses of 4,909 to 6,339 sq ft.
Another condo to achieve a new psf-price high during the same period is The Myst. On July 14, a one-bedroom-plus-study unit measuring 517 sq ft was sold by the developer for a staggering $1.234 million, or $2,388 psf, surpassing the previous record of $2,377 psf set just four months ago when another 517 sq ft unit was transacted for $1.228 million on Feb 29.
The Myst, a 408-unit development situated on Upper Bukit Timah Road in District 23, is a 99-year leasehold condo comprising two 24-storey towers. It offers units ranging from one-bedroom-plus-study apartments of 517 sq ft, two-bedroom units of 678 sq ft to 732 sq ft, three-bedders of 850 sq ft to 1,163 sq ft, four-bedders of 1,453 to 1,518 sq ft, and lavish five-bedders of 1,690 sq ft.
The project was launched for sale in July 2023 and saw an impressive 110 (27%) units sold during the first weekend at an average price of $2,057 psf. As of July 22, the project has moved 251 (61.5%) units at an average price of $2,073 psf.
Park Colonial, another upscale condo, also made headlines during the period in review as a four-bedroom apartment measuring 1,249 sq ft was sold for $2.95 million, or $2,363 psf, on July 8. This sale marks a new peak for the condo, just a month after the previous record of $2,330 psf was set with the sale of a 678 sq ft unit for $1.58 million on June 7.
The seller of the unit purchased it in December 2018 for $2.21 million ($1,771 psf) and has made a gain of approximately $739,000 from the sale.
Park Colonial, a 99-year leasehold condo on Woodleigh Lane, off Upper Serangoon Road in District 13, consists of 805 units and is a mere five-minute walk to Woodleigh MRT Station on the North East Line. Completed in 2021, the development comprises six residential blocks, each spanning 14 to 15 storeys. It offers various unit types, including one-bedders from 463 sq ft, two-bedders from 570 sq ft, three-bedders from 915 sq ft, four-bedders from 1,184 sq ft, and lavish five-bedders from 1,712 sq ft.
Apart from the unit sold on July 8, Park Colonial has seen 15 other units change hands in 2023. These units, ranging from 463 to 980 sq ft, were transacted at prices between $968,888 and $2.28 million, translating to $2,047 psf and $2,330 psf, respectively.
No new psf-price lows were recorded during the period in review. To explore available units at Viva, The Myst, and Park Colonial, visit TheEdgeProperty.com.sg.