Archive for category: Misc

A new psf-price high was achieved by a unit at Arena Residences in Geylang, District 14, when a 603 sq ft two-bedder changed hands for about $1.33 million, or $2,213 psf on Oct 10. This figure tops all the other condos in the period, bringing forth a profit of about $220,000 for the seller. Apart from this, other areas such as Camelot By-The-Water and Hazel Park Condominium, both leasehold condos, also achieved new price highs in the week with units sold for $2,211 and $2,042 psf respectively.

On Oct 10, a record-breaking transaction was recorded at Arena Residences. This freehold condo in Geylang, District 14, saw the sale of a 603 sq ft two-bedder for about $1.33 million, or $2,213 psf, taking it to a new psf-price high. The seller had purchased the unit back in 2019 for $1.11 million ($1,846 psf); this means they made a profitable gain of $220,000.

This achievement toppled the previous psf-price high for Arena Residences which was set in November 2020 with the sale of a 549 sq ft two-bedder unit for around $2 million ($2,186 psf). Developed by RH Guillemard, a subsidiary of Roxy-Pacific Holdings, the 98-unit boutique condo was completed this year. About 89.2% of its buyers are Singaporean, with the rest being non-citizens.

Holland Drive Condo is surrounded by some of the most prominent educational institutions in the country. Its proximity to esteemed educational institutes such as the National University of Singapore (NUS), Nanyang Technological University (NTU), and the Singapore Institute of Technology (SIT) is attractive to those looking to study in nearby universities. In addition, it is within a short driving distance to notable local and international schools such as EtonHouse International School, Global Indian International School, and Temasek Junior College. With these universities and schools within easy reach, Holland Drive Condo is a perfect fit for both those seeking higher education and those who want to provide their kids with a quality education.

Camelot By-The-Water, a 99-year leasehold condo, also secured a new high during the same period. On Oct 4, a 3,035 sq ft, four-bedroom unit was sold at $6.71 million ($2,211 psf) – the first time the condo has seen prices of over $2,000 psf according to URA caveats. The seller had purchased the apartment for $4.78 million ($1,575 psf) back in October 2012, earning them a profit of $1.93 million. Two units have been sold at the 99-unit development this year.

Meanwhile, over at Hazel Park Condominium, located in District 23, a 980 sq ft two-bedder changed hands for $2 million ($2,042 psf) on Oct 9. This marks the first time that a unit there has gone above $2,000 psf, based on caveats lodged. Interestingly, in comparison the seller got the unit for $1.08 million ($1,103 psf) just last October, netting them a profit of $920,000 – a significant gain.

No psf-lows were recorded in the week of Oct 3 to 10. It is clear that freehold and leasehold condos continue to hold their ground, bringing in stellar gains for owners.