Archive for category: Misc

Scotts Square, a freehold condo located at Orchard Road, has set a new record low psf price for the week of July 4-11. The sole development to do so, the transaction that achieved this was for a 947 sq ft, two-bedroom unit on the 21st floor, selling for $2.56 million ($2,703 psf) on July 7.

This sale is the first time a resale unit at Scotts Square has dipped below $2,800 psf, beating the previous record of $2,803 psf for a 1,249 sq ft unit on the 18th floor sold in 2016. The development is situated in prime District 9 between the Grand Hyatt Singapore and Singapore Marriott Tang Plaza hotels, and features two residential towers consisting of a total of 338 units, as well as a four-storey retail podium.

A 2014 Grange Residences units currently holds the record for the highest psf price at $3,453. However, the recent sale at Scotts Square marks a decline in its average resale price, with figures dropping from $3,772 psf in July 2010 to $3,319 psf in July 2020. The current average resale price for the condo is around $3,176 psf.

In comparison, the sale of a 1,421 sq ft unit at Martin Place Residences has set a new record high psf price for the development. The three-bedroom unit was sold for $4.05 million ($2,850 psf) on July 8, surpassing the previous record of $4.78 million ($2,775 psf) for a 1,722 sq ft unit last April.

Completed in 2011, Martin Place Residences is a freehold condo comprising 302 units ranging from one- to five-bedrooms. Located in prime District 9 along Martin Place, the 33-storey twin tower project is surrounded by a handful of other freehold and 999-year leasehold developments, including The Iveria, The Avenir, and the newly launched Robertson Opus.

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The average resale price at Martin Place Residences is estimated to be around $2,620 psf, lower than The Iveria at $2,713 psf, and The Avenir at $3,387 psf. However, the latest launch of Robertson Opus has achieved an average price of $3,360 psf, with 41% of its units sold during its opening sales weekend on July 19-20. The redevelopment of the former Fraser Place at Robertson Walk, the project features 999-year leasehold condos.

In addition, a resale unit at The Belvedere has also set a new psf price record, with a 1,367 sq ft three-bedroom unit on the 14th floor selling for $3.55 million ($2,597 psf) on July 8. This surpasses the previous record of $2.56 million ($2,530 psf) for a 1,012 sq ft two-bedroom unit on the 11th floor sold last June.

The Belvedere, a freehold condo on Meyer Road in District 15, is situated next to Katong Park MRT station and is conveniently located near the Singapore Sports Hub and East Coast Park. Completed in 2007, the development comprises two residential blocks with a total of 167 units, including two- and three-bedroom units, and seven penthouses.

The average resale price at The Belvedere has also seen a steady increase from around $1,630 psf in July 2015 to $2,442 psf currently.