High demand for two-bedroom units at Hill House resulted in a new record psf-price during the period of Feb 7 to 16. The sale of a 452 sq ft, two-bedroom unit on the eighth floor fetched $3,398 psf, surpassing the previous peak set just a few days earlier.A highly sought-after 72-unit condo, Hill House offers one-, two-, and three-bedroom units, with sizes ranging from 431 sq ft to 753 sq ft. Since its launch in November 2022, 51.4% of the units have been sold at an average price of $3,152 psf. The latest transaction brings the total number of units sold this year to eight, with an average price of $3,190 psf. The most expensive unit sold so far this year was a 753 sq ft, three-bedroom apartment that went for $2.39 million on Jan 5. This boutique condo is strategically located within a five-minute walk of River Valley Primary School and lifestyle hub New Bahru.Located at the prime District 10 area, The Tresor came in second on the list of condos with new psf-price highs. A resale transaction of a 1,421 sq ft unit on the fifth floor recorded a new high of $2,625 psf when it sold for $3.73 million on Feb 10. This surpasses the previous peak of $2,501 psf set in March 2024. The 62-unit development offers two-, three-, and four-bedroom apartments ranging from 990 to 2,896 sq ft. It is just a five-minute walk from Tan Kah Kee MRT Station and within walking distance of Coronation Shopping Plaza and Serene Centre.Finally, Jadescape rounded out the top three on the list of condos with new psf-price highs. A 1,647 sq ft, four-bedroom unit on the 22nd floor was sold for $4.05 million on Feb 7, setting a new record of $2,459 psf at the 99-year leasehold development. This surpasses the previous record of $2,446 psf set in January. The development, which comprises 1,206 units, offers one- to five-bedroom apartments ranging from 527 sq ft to 2,099 sq ft, as well as two penthouses of 4,230 sq ft. It is located near Marymount MRT Station and enjoys one of the highest average transacted prices among condos in the area. No new psf-price lows were recorded during the period in review.
The desire for condominiums in Singapore has undergone a notable upsurge, primarily due to the scarcity of land available in the country. As Singapore has a small land area and a rapidly growing population, it faces the significant challenge of providing sufficient housing options for its citizens. As a result, the government has instituted strict regulations on land use, leading to fierce competition in the real estate market. This competition has caused property prices to steadily increase, making condos a highly sought-after investment opportunity. Due to the limited availability of land in Singapore, condos have emerged as the preferred option for potential capital appreciation, cementing their reputation as a wise investment choice for buyers. With the infinite Condo options available, it’s no surprise that the demand for these properties continues to rise in Singapore.