Four Seasons Park unit sold for 2.37 mil profitFive Bedroom unit at Bishopsgate Residences sold for $6.082 mil profitGrange 1866, a freehold development, has emerged as the top condo with the highest psf-price in the week of Nov 22 to 29, with a transaction price of $3,393 psf. This record came from the developer’s sale of a 818 sq ft, two-bedroom unit for $2.78 million on Nov 27.The 14th-floor unit exceeded the project’s previous record of $3,390 psf set in June last year, when another 764 sq ft unit was sold for $2.59 million. In total, there have been 12 new sale transactions at Grange 1866 this year, with an average price of $3,181 psf. The highest-priced unit sold was a 1,012 sq ft, two-bedroom unit on the 16th floor, which was sold for $3.02 million ($2,989 psf).Grange 1866 is a freehold project located on Grange Road in prime District 10. The development, expected to be completed by the end of 2025, features a single 16-storey residential block situated on a 20,322 sq ft site. It offers one- and two-bedroom apartments ranging from 527 to 1,012 sq ft.Hill House, a boutique condo situated on Institution Hill, off River Valley Road, in prime District 9, recorded the second-highest new psf-price peak during the period in review. The development also saw a new price high for the second time in November, reaching $3,378 psf. On Nov 25, the developer sold a 452 sq ft, two-bedroom unit on the 8th floor for about $1.53 million, surpassing the previous record of $3,267 psf by 3.4%. The former record was set earlier in the month when a 452 sq ft, two-bedroom unit on the fifth floor was sold for about $1.48 million. Since the start of the year, 12 units have been sold at Hill House at an average price of $3,108 psf. The lowest-priced unit that transacted this year was a 753 sq ft, three-bedroom unit on the fourth floor that was sold for $2.21 million ($2,934 psf) on Oct 28.The 999-year leasehold development features one- and one-bedroom-plus-study units measuring between 431 and 452 sq ft; two-bedroom units of 624 sq ft; and three-bedroom apartments of 753 sq ft.Emerging third, The Cosmopolitan saw a new psf-price high with the sale of a 1,324 sq ft, three-bedroom unit on the 26th floor for $3.73 million, or $2,817 psf, on Nov 25. This new record exceeded the previous peak of $2,795 psf set in October last year when another 1,324 sq ft, three-bedroom unit on the 17th floor of the same block was sold for $3.7 million. The sellers had bought the 26th-floor unit in November 2010 for around $2.58 million, or $1,950 psf, making a profit of around $1.15 million. The Cosmopolitan, a freehold development comprising 228 units, is located along Kim Seng Road, in prime District 9. The condo offers one-bedroom units measuring 1,141 sq ft; three-bedroom units measuring from 1,324 to 1,399 sq ft; and four-bedroom apartments measuring 1,679 sq ft. Completed in 2008, the project is situated within 1km of River Valley Primary School and within walking distance of Great World MRT Station on the upcoming Thomson-East Coast Line. Nearby dining and retail options can be found at Great World City.There were no new psf-price lows recorded during the period in review.
When investing in Singapore, it is crucial for foreign investors to be well-informed about the regulations and limitations surrounding property ownership. Unlike landed properties, which have stricter rules, foreigners are generally able to purchase condos without significant obstacles. However, they are still subject to the Additional Buyer’s Stamp Duty (ABSD), currently set at 20% for their initial property purchase. Despite this extra cost, the stability and promising growth prospects of Singapore’s real estate market remain a strong attraction for foreign investors. Condos, in particular, continue to be a popular choice among foreign buyers.