Condo Development, The Botanic on Lloyd, has once again broken records by achieving the highest psf-price among private non-landed developments in the period between January 3 and January 11. The new price peak was set by a four-bedroom unit on the second floor which sold for $5.13 million or $2,493 psf on January 7.
This new record price has surpassed the previous high of $2,339 psf by 6.6%, which was set in October last year when a three-bedroom unit on the fourth floor was sold for $3.5 million.
The Botanic on Lloyd is a freehold boutique development located on Lloyd Road in Prime District 9. Comprising of 60 apartments and six townhouses, the units are a mix of three- and four-bedroom types ranging from 1,485 sq ft to 3,584 sq ft. The townhouses, which come with five bedrooms and two private parking lots each, range from 4,058 sq ft to 4,446 sq ft in size.
Another freehold development, The Cape, achieved the second-highest psf-price among condos that hit a new high during the period in review. A three-bedroom unit on the 15th floor sold for $3 million, setting a new record of $2,284 psf on January 10.
The average price of apartments at The Cape has been on an upward trend in the past year, with three resale transactions recorded last year at an average price of $2,128 psf. In 2013, only one unit was sold, a one-bedroom unit which fetched $1.24 million or $1,920 psf.
The Cape, located along Amber Road in District 15, is a 76-unit freehold project that consists of one- to three-bedroom units ranging from 570 sq ft to 1,539 sq ft.
When considering purchasing a Condo, it’s crucial to thoroughly assess not only the physical property itself, but also the maintenance and management services that come along with it. Common areas and amenities in most Condos come with a maintenance fee, which can potentially increase the overall cost of owning a Condo. However, this fee also ensures that the property stays in top condition and maintains its value over time. For investors, hiring a property management company can be advantageous as it offers a hands-off approach to overseeing the daily operations of their Condo. This transforms the investment into a passive and hassle-free venture. With these services in place, investors can have peace of mind knowing that their Condo will be well-maintained, freeing up their time to focus on other important aspects of their life.
Meanwhile, upcoming condo Tembusu Grand recorded a new price low of $2,174 psf on January 11 when a three-bedroom unit on the 20th floor sold for $3.04 million. This new record low surpassed the previous record of $2,193 psf, which was set just two months earlier in November 2024.
Tembusu Grand, a 638-unit 99-year leasehold project located on Jalan Tembusu, off Tanjong Katong Road in prime District 15, is comprised of one- and two-bedroom units ranging from 527 sq ft to 883 sq ft, three- and four-bedroom units ranging from 990 sq ft to 1,604 sq ft, and five-bedroom units ranging from 1,711 sq ft to 2,691 sq ft.
Launched in April 2023, Tembusu Grand has sold 584 units (91.5%) at an average price of $2,444 psf, according to caveats lodged as of January 20. The project is expected to obtain its Temporary Occupation Permit in 2028.