with sale
A new psf-price high was set when a 1,109 sq ft, three-bedroom unit in the Boutique project Jervois Prive was sold for $3.57 million on April 17. This impressive sale marked the highest psf-price among condos sold between April 14 and 21.
The freehold development of Jervois Prive, which is the maiden project of property developer Midas Land, is located in District 10. Composed of 43 units of one- to three-bedrooms ranging from 549 to 1,389 sq ft, the previous record for psf-price was set when a two-bedroom unit of 710 sq ft was sold for $2.13 million ($3,000 psf) on February 12.
The new record in Jervois Prive is indicative of the neighbourhood’s exclusivity. Surrounded by high-end condos, Chatsworth Park Good Class Bungalow Area and many nearby schools such as Alexandra Primary School, Crescent Girls’ School and Queenstown Secondary School, its desirability was further confirmed when the most expensive unit by absolute price in the development was sold by the developer for $3.91 million ($2,817 psf) on June 6, 2019.
Nearby freehold condos Jervois Meadows and Dormer Park have recorded average prices of $1,776 and $1,873 psf, respectively.
The second highest psf-price record in the week was set at Botanic Gardens View, a freehold development of 144 units off Cluny Road. A 1,259 sq ft unit sold for $3.68 million ($2,922 psf) on April 20, surpassing the previous record of $4.07 million ($2,521 psf) for a 1,615 sq ft unit, which changed hands on Aug 5, 2019.
The Atelier, a 120-unit freehold development near Newton MRT Station, saw the lowest psf-price for the week of April 14 to 21. An 872 sq ft two-bedroom unit on the seventh floor sold for $2.16 million ($2,479 psf). The development, which is 54% sold at an average price of $2,683 psf, features a mix of one- to four-bedroom units ranging from 549 to 1,496 sq ft.
Capitaland launches J’Den Condo, set J’Den Condo to be completed by 2027, with residential units estimated at S$2,000 to S$2,100 psf. The development includes commercial space and will be connected to the Jurong Lake District via J-Walk.
It is clear that the freehold prime District 10 region has seen strong psf-price growth, particularly in the luxurious boutique developments and established freehold area. The desire for real estate in this area is certain to remain in the future.
