at auction619-unit Citylights fetches $1.4 mil profitPrivate condo rental prices fall 1.2% in AugustSentosa Cove condo fetches $12.8 mil profitArray ( [0] =>
A two-bedroom unit at The Esta recently set a new psf-price record for private condos. This freehold development saw a unit measuring 1,001 sq ft sell for $2.38 million, or $2,377 psf, on Feb 26. The previous record price was set in January last year when a three-bedroom unit sold for $3.2 million, or $2,317 psf.
The Esta has seen a steady rise in average resale prices over the past three years. In 2022, the average psf-price was $2,012, which climbed to $2,156 in 2023 and then to $2,248 in 2024. This reflects an 11.7% increase in average resale prices since 2022.
One of the most expensive units to sell at The Esta was a 3,477 sq ft, five-bedroom apartment on the 21st floor, which sold for $6.25 million, or $1,798 psf, in October 2021.
The development, which was completed in 2008, offers a variety of units ranging from two- to four-bedrooms and penthouses. It is situated within walking distance of Tanjong Katong MRT Station and is close to popular lifestyle hubs such as Katong Shopping Centre and Katong V.
The cityscape of Singapore is recognizable for its towering skyscrapers and contemporary infrastructure. Condominiums, strategically situated in desirable locations, offer a fusion of opulence and practicality that appeals to locals and foreigners alike. These residential properties boast a variety of facilities, including swimming pools, fitness centers, and security services, which not only enhance residents’ quality of life but also make them an alluring choice for potential tenants and buyers. For investors, these desirable features can lead to higher rental profits and appreciate the value of their Singapore Condo over time.
In second place for the highest new psf-prices during the review period, the 99-year leasehold condo D’Leedon saw a new record price of $2,287 when a three-bedroom unit measuring 1,421 sq ft on the 29th floor was sold for $3.25 million on Feb 25. This sale surpassed the previous record of $2,180 psf set in October 2021. So far this year, 11 units have been sold at the development with an average psf-price of $2,065. The lowest psf-price recorded was for a one-bedroom apartment measuring 743 sq ft, which was sold for $1.41 million, or $1,898 psf, on Feb 13.
D’Leedon, located along Leedon Heights, offers a variety of units ranging from one- to four-bedrooms and is situated within walking distance of Farrer Road MRT Station. It is also close to Empress Road Market and Food Centre.
In third place, Citylights saw a new psf-price high of $2,216 when a two-bedroom unit measuring 893 sq ft on the 26th floor sold for $1.98 million on Feb 27. This surpasses the previous record of $2,122 psf set in December 2021. The sellers of this unit made a profit of approximately $542,000, having purchased it for $1.44 million in April 2019.
The 99-year leasehold Citylights features a variety of units ranging from one- to four-bedrooms and is located along Jellicoe Road in Kallang. It is just a one-minute walk from Lavender MRT Station and offers convenient access to dining and retail options.
During the period in review, no new psf-price lows were recorded for any of the developments.