The sale of a 2,691 square foot, four-bedroom New Futura for $12.5 million topped the list

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Read also: In the first quarter of 2023, commercial real estate investment activity in Asia Pacific (Apac) totaled US$27 billion ($36 billion)

In the first quarter of 2023, commercial real estate investment activity in Asia Pacific (Apac) totaled US$27 billion ($36 billion)

The condos that reached the new high of psf prices between April 30 and the 5th of May, New Futura topped the list after the sale of a 2,691 sq. ft four-bedroom home price of $12.5 million or $4,645 per square foot in May. This beats the previous record of $4,630 that was set in May of 2018 when an apartment measuring 7,836 square feet sold for $36.3 million.

New Futura, located on Leonie Hill Road, is a luxurious condo developed from City Developments that was completed in the year 2017. It houses 124 units in two 36-storey towers. They are comprised of two-bedroom apartments that measure 1,098 sq feet to four-bedroom units of 2,691 sq ft, with ceilings that double in volume. There are two penthouses with 7,836 sq feet located at the highest point on each building.

Hyll on Holland also saw an all-time high in psf prices due to the sale of one 1,055 square feet, three-bedroom unit with study for $3.23 million, or $3,059 psf at the beginning of May. The sale beats the previous record of $3,027 which was recorded on March 29 when an 570 sq ft property sold for $1.73 million.

Hyll On Holland is an open-hold development developed by Far East Consortium International and Koh Brothers Group. It is comprised of six 12-storey blocks that have 319 apartments that comprise two – and three-bedders, ranging from 570 sq ft up to 1,055 square feet. Since it was launched in October of 2020 it has seen two hundred and ninety-seven (93%) units taken up for sale at an average cost of $2,630 per square foot, according to caveats that were lodged.

Hyll on Holland can be situated on Holland Road in prime District 10. It’s a short drive from Holland Village. Holland Village cluster of shops and restaurants, as well as malls such as Raffles Holland V as well as Holland Road Shopping Centre, both located on Holland Avenue. The project is scheduled to be completed in 2025.

Another property that hit the new high of psf was The Landmark in the Outram region. The developer has sold a one-bedroom apartment with 495 square feet located on 30th Floor to $1.41 million ($2,856 per square foot) in April. It is more than the previous record of $3,837 per square foot recorded on January 8, when a 495 sq ft unit purchased to the developer for $1.41 million ($2,847 per square foot).

It is located next the Pearl Hill City Park in District 3, The Landmark is an joint venture between MCC Land, ZACD Group and SSLE Development. The 99-year leasehold is set to be completed by 2025. It will comprise of one – to three-bedroom apartments ranging between 495 sq ft and 1,141 square feet. Chinatown MRT Station, situated on the Downtown and NorthEast Lines, is located in a walk of 10 minutes away. Chinatown Point at New Bridge Road and UE Square at Clemenceau Avenue are within walking distance.

Additionally, Twin Regency is the third property to set a new record for psf prices during the time in review. On May 2nd, a three-bedroom unit with 1,216 square feet of space was purchased to a buyer for $2.5 million, establishing the record for the highest price of $2,051 per square foot. This is higher than the previous record of $2,011 psf recorded in an auction of 1,442 sq. ft property in April for $2.9 million in April. It’s also only the second occasion Twin Regency has seen a unit sold for more than $2,000 per sq ft.

Jointly constructed through UOL Group and Low Keng Huat The freehold development is situated on Kim Tian Road, off Tiong Bahru Road, in District 3. It was completed in 2007. includes 234 apartments and homes comprised of three and four-bedroom apartments with 980 square feet up to 1,841 sq ft, and penthouses with a range of 2,121 sq ft up to 3,455 sq feet.

No new lows for the psf were recorded during the time period of the review.