Singapore – Freehold condo, Gallop Gables, located in District 10, recently made headlines with a newly recorded high of $2,299 psf from the sale of a 2,669 sq ft four-bedroom unit on the second floor. This is the latest high, topping its previous record of $2,108 psf from the sale of a 1,163 sq ft, two-bedroom unit in February this year. The seller of the four-bedroom unit, who had bought it for $4.5 million ($1,686 psf) in July 2017, made a gain of $1.64 million on the recent transaction.
Gallop Gables, completed in 1997, features 102 units spread across four-storey blocks, with a low density and is located on Farrer Road. The development is within walking distance of Farrer Road MRT Station on the Circle Line.
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The condo, which has seen three resale transactions this year at an average price of $2,110 psf, shows an increase from the previous year’s four transactions at an average price of $1,991 psf. In addition to the units sold on November 20 and February 19, a 1,550 sq ft two-bedroom unit on the first floor was purchased for $2.98 million ($1,923 psf) on September 9.
Meanwhile, The Scala, located in District 19, has charted a new record of $2,064 psf from the resale of a 1,259 sq ft, four-bedder for $2.6 million on November 20. This is the first time the development has surpassed the $2,000 psf mark. Before this, the highest psf-price was $1,969 psf from the sale of a 904 sq ft two-bedroom unit on September 9.
The seller of the four-bedroom unit at The Scala initially bought it for $1.66 million ($1,318 psf) in October 2012, making a gain of $940,000 in eight years.
The condo has seen16 resale transactions this year at an average price of $1,823 psf, 8% higher than the average price of $1,688 psf from 16 transactions in 2019.
The Scala is situated in a prime location, being a 99-year leasehold on Serangoon Avenue 3. It features 468 units across 17 storeys, a mix of one- to four-bedroom apartments measuring between 474 sq ft and 2,142 sq ft. It is within walking distance of the Lorong Chuan MRT Station on the Circle Line. It is also in proximity to numerous educational institutions, such as Nanyang Junior College, St Gabriel’s Primary School, and Yangzheng Primary School.
Moreover, Sims Edge also saw a new record of $1,907 psf during the period, from the sale of a 409 sq ft, one-bedroom unit on the 13th floor for about $780,000 on November 22.
The previous record of $1,834 psf was set in January this year from the sale of a 409 sq ft one-bedroom unit on the fifth floor. The seller of the eight-year-old unit made a profit of $223,000.
Located in Geylang, the freehold boutique condo has 78 units that range from 409 sq ft to 1,195 sq ft. It is within 500 m of the Paya Lebar MRT Interchange Station on the East-West Line and Circle Line.
Based on EdgeProp data, there were no new low psf-price records during the period in review.