In the recent period from February 7 to 16, the private condo market saw a new record for the highest psf-price achieved with the sale of a two-bedroom unit at Hill House. The 999-year leasehold development located at the top of Institution Hill, off River Valley Road, achieved a new peak of $3,398 psf when the 452 sq ft unit on the eighth floor was sold by the developer for $1.54 million on February 16.
This transaction slightly surpassed the previous record of $3,378 psf set on February 11 when another 452 sq ft, two-bedroom unit on the eighth floor was sold for $1.53 million. Hill House, a boutique condo in prime District 9, comprises 72 units and was launched in 2022. The development offers 40 one-bedroom units of 431 sq ft, 24 two-bedroom units ranging from 452 sq ft to 624 sq ft, and eight three-bedroom units spanning 753 sq ft.
According to URA caveats, 37 units (51.4%) at Hill House have been sold at an average price of $3,152 psf since its launch in November 2022. The development is still under construction and is estimated to be completed in the third quarter of 2026.
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Since the start of this year, a total of eight units have been sold at Hill House, including the unit sold on February 16. These units were transacted at an average psf-price of $3,190 and include the most expensive unit sold at the development so far, a 753 sq ft, three-bedroom apartment that went for $2.39 million on January 5.
The Tresor, a 62-unit development located on Duchess Road in District 10, came in second on the list of condos with new psf-price highs during the review period. A resale transaction of a 1,421 sq ft unit on the fifth floor set a new high of $2,625 psf when it was sold for $3.73 million on February 10. This surpasses the previous record of $2,501 psf set in March 2024 when a 1,399 sq ft, three-bedroom unit on the second floor sold for $3.5 million.
The latest transaction is also the first resale deal at The Tresor in a year, according to caveats lodged. The most recent resale transaction before this was in March 2024 when a 1,399 sq ft unit sold for $3.5 million ($2,501 psf).
This 999-year leasehold development, completed in 2007, offers a mix of two-, three-, and four-bedroom units ranging from 990 to 2,896 sq ft. It is located just a five-minute walk from Tan Kah Kee MRT Station and within walking distance of Coronation Shopping Plaza and Serene Centre.
Rounding out the top three on the list is Jadescape, where a 1,647 sq ft, four-bedroom unit on the 22nd floor was sold for $4.05 million on February 7, setting a new record of $2,459 psf at the District 20 development. The previous record was $2,446 psf for a 1,259 sq ft unit on the 10th floor that was sold in January. The most expensive unit sold at Jadescape in terms of absolute price is still a 4,230 sq ft, six-bedroom penthouse that fetched $10.2 million ($2,399 psf) in December 2024.
Jadescape, completed in 2022, offers 1,206 units across seven residential towers, with one- to five-bedroom apartments ranging from 527 sq ft to 2,099 sq ft. Located at the junction of Marymount Road and Shunfu Road, the development is within walking distance of Marymount MRT Station and a four-minute walk from Sin Ming Plaza.
Data from EdgeProp Research shows that Jadescape commands one of the highest average transacted prices for condos within a 1km radius, at $2,192 psf for transactions in the last 12 months. In comparison, other condos in the vicinity, such as Tresalveo on Marymount Terrace, 183 Longhaus on Upper Thomson Road, and Thomson V Two on Sin Ming Road, have average transacted prices ranging from $1,712 psf to $1,912 psf across the same period, as they are all freehold developments.
No new psf-price lows were recorded during the period in review.