K Suites, a boutique freehold development, has set a new record for new psf-price highs from Nov 1 to Nov 10. The project, located at Lorong K Telok Kurau, off Still Road in District 15, achieved a new high of $2,443 psf when a 872 sq ft three-bedroom unit was sold for $2.13 million on Nov 8.
The development, which is currently under construction, comprises a five-storey apartment block with 19 units. It is a redevelopment of the former Ji Liang Gardens, which was purchased en bloc for $18.6 million in June 2021.
The units at K Suites range from three- to four-bedroom apartments and measure between 797 sq ft and 1,270 sq ft. There are also four-bedroom duplex penthouses and three five-bedroom duplex penthouses.
Based on caveats lodged, K Suites has sold 8 units (42%) so far at an average price of $2,099 psf since residences at the development first started selling in April 2023.
Thomson Three, a 99-year leasehold condo on Bright Hill Drive, off Upper Thomson Road in District 20, also saw a new high during the period in review. A 1,033 sq ft three-bedder was sold for $2.46 million on Nov 6, translating to $2,379 psf. The seller had bought the unit in a resale transaction for $1.86 million ($1,800 psf) in Nov 2021, making a net profit of $598,000.
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Thomson Three, which was completed in 2016, has 435 condo units across 21 storeys. It comprises one- to four-bedroom apartments and 10 strata semi-detached houses. The development is within walking distance of the Upper Thomson MRT Station and close to Ai Tong School (Primary).
Meanwhile, luxury condo 19 Nassim achieved a new psf-price low of $2,947 psf during the period in review. The developer sold a 646 sq ft, one-bedroom unit on the fourth floor of the development for about $1.9 million on Nov 9.
The condo, which was completed in 2023, saw 50 units sold so far this year at an average price of $3,397 psf. This is a 3.7% decrease from the average price of $3,524 psf for eight units sold last year.
Located at Nassim Hill in prime District 10, 19 Nassim has 101 units housed in a 10-storey residential block. Units range from 538 sq ft to 1,830 sq ft and are a mix of one- to three-bedrooms.
Overall, these developments have set new records for psf prices, with K Suites and Thomson Three achieving new highs and 19 Nassim achieving a new low. This shows the strong demand for freehold and luxury properties in Singapore’s real estate market.