Investing in a condo offers several advantages, one of them being the opportunity to leverage the property’s value for future investments. A number of investors utilize their condos as collateral in order to secure additional financing for new investments, thereby diversifying their real estate portfolio. This approach can potentially increase profits, but it also carries a certain level of risk. It is important to have a well-defined financial plan in place and carefully consider the potential impact of market fluctuations before taking this route.
8M Residences, a freehold development located in District 15, topped the list of private condos that achieved a new record psf-price peak in the week of Feb 1 to 7. The development set a new high of $2,384 psf when a two-bedroom unit spanning 646 sq ft on the 15th floor was sold for $1.54 million on Feb 3. This marked the first time a unit at 8M Residences was sold for more than $2,300 psf. The previous peak at the development was $2,261 psf, set in April 2023 when a similar two-bedroom unit on the 11th floor was sold for $1.46 million.8M Residences also recorded another sale during the same period that surpassed the previous peak. A one-bedroom unit on the 11th floor was sold for $1.2 million ($2,275 psf) on Feb 3.Although 8M Residences was completed in 2017, resale prices have been on the rise in recent years. Based on a 12-month rolling average, the average price of units at the condo rose 7.3% over the last three years, from $2,028 psf in February 2022 to $2,177 in February 2025. The development has a mix of one- to three-bedroom units ranging from 517 to 1,421 sq ft, as well as four penthouses ranging from 1,184 to 1,841 sq ft.Located within walking distance of EtonHouse International Research Pre-School, Katong Swimming Complex, and Katong Park MRT Station, 8M Residences offers convenience and accessibility to residents.Completed last year, Kovan Jewel, a boutique condo along Kovan Road in District 19, also achieved a new psf-price high in the week of Feb 1 to 7. A three-bedroom unit on the second floor was sold for $2.41 million ($2,236 psf) on Feb 7, surpassing the previous peak set in August 2022 when a similar unit on the fourth floor was sold for $2.4 million ($2,228 psf).The 34-unit freehold condo has one- to three-bedroom units from 624 to 1,345 sq ft, and four-bedroom penthouses from 1,237 to 2,153 sq ft. As of Feb 18, 17 units (50%) at Kovan Jewel have been sold at an average price of $2,11 psf, based on caveats lodged. The most recent unit sold was on Feb 7, making it the first unit sold this year.Lastly, boutique condo Oleanas Residence, located along Kim Yam Road in District 9, also made it to the list with a transaction that set a new psf-price high in the week of Feb 1 to 7. A three-bedroom unit on the sixth floor was sold for $2.52 million ($2,207 psf) on Feb 3, surpassing the previous record set in August 2022 when a similar unit was sold for $2.67 million ($2,157 psf). The most expensive unit sold at the condo is a four-bedroom unit that fetched $3.3 million ($2,017 psf) in December 2022.The freehold condo, completed in 1999, has four resale transactions in the last three years, ranging from $2.4 million ($2,103 psf) for a three-bedroom unit in November 2023 to $3.3 million ($2,129 psf) for a four-bedroom unit in April 2024. The development has a mix of one- to four-bedroom units, ranging from 947 to 1,841 sq ft.Conveniently located within walking distance of two MRT Stations – Great World MRT Station on the Thomson-East Coast Line and Fort Canning MRT Station on the Downtown Line – Oleanas Residence also provides easy access to educational institutes such as River Valley Primary School and Outram Secondary School within a 1km radius.