Grange 1866, a freehold development, has set a new record for condos in the week of Nov 22 to 29 with a psf price of $3,393. The previous record of $3,390 psf was set by the same project in June last year with a 764 sq ft unit selling for $2.59 million. This time, the new record was set by the sale of a two-bedroom unit measuring 818 sq ft for $2.78 million.
With an average price of $3,181 psf, Grange 1866 has already seen 12 new sales transactions this year. The most expensive unit transacted this year was a two-bedroom unit measuring 1,012 sq ft and sold for $3.02 million ($2,989 psf). So far, 45 out of 60 units in the project have been sold.
Another development, Hill House, also made headlines during this period with a new psf price high of $3,378. This boutique condo project saw a new record set at $1.53 million for a 452 sq ft, two-bedroom unit. The previous record of $3,267 psf was set earlier in November for another similarly sized unit. Hill House has already seen 12 units sold by the developer this year, with an average price of $3,108 psf. The cheapest unit to be transacted this year was a 753 sq ft, three-bedroom unit that sold for $2.21 million ($2,934 psf) in October.
Lastly, The Cosmopolitan rounded up the top three with a new record of $3.73 million for a 1,324 sq ft, three-bedroom unit. The previous record of $3.7 million was set in October last year for another 1,324 sq ft, three-bedroom unit. The Cosmopolitan, completed in 2008, is a freehold condo comprising of two-bedroom and three-bedroom units as well as four-bedroom apartments. Located in prime District 9, the project is within a 1km radius of River Valley Primary School and walking distance to the upcoming Great World MRT Station.
In summary, Singapore has proven to be a promising market for investors looking to purchase a condo. With its strong demand, potential for capital appreciation, and attractive rental yields, investing in a condo in Singapore can result in significant returns. However, it is imperative to carefully assess various factors such as location, financing options, government regulations, and current market conditions. Conducting thorough research and seeking professional guidance can aid in making well-informed decisions and maximizing profits in Singapore’s ever-evolving real estate industry. The addition of Singapore Condo presents a compelling opportunity for both local and foreign investors, seeking to diversify their portfolios and secure a stable and profitable investment.
During this period, there were no new psf price lows recorded.