During the period of November 10 to 21, a development called Hill House stood out among all other condos in Singapore, as it achieved a new record of $3,267 psf. This achievement was made possible through the sale of a 452 sq ft two-bedroom unit on the fifth floor, which the developer successfully sold for $1.48 million on November 11. The new high price is only 0.1% higher than the previous record set in November 2023 and is just 0.9% lower than the average price of $3,127 psf based on the five transactions at the development last year. Hill House is a boutique development in prime District 9, with 72 units and a good mix of one-bedroom, one-bedroom plus study, two-bedroom, and three-bedroom apartments. Since its launch in November 2022, 29 units have been sold at an average price of $3,060 psf. It is currently under construction and is expected to be completed in the third quarter of 2026. The second spot on the list of condos that reached new psf-price highs during the period was taken by The Continuum, a freehold development on Thiam Siew Avenue, District 15. A new record of $3,084 psf was achieved through the sale of a 721 sq ft, two-bedroom unit on the 17th floor for $2.22 million on November 16. This is only 0.4% higher than the previous record, which was set just the day before. The Continuum consists of six residential towers on two plots of land and has 816 units ranging from one to five bedrooms. Since its launch in May 2023, 489 units have been sold at an average price of $2,779 psf. It is expected to be completed by 2026. Lastly, Lavender Residence, a freehold boutique development in Boon Keng, District 12, made headlines by recording a new psf-price low during the period. The developer sold a 990 sq ft, one-bedroom + studio unit on the second floor for $1.61 million, or $1,626 psf, on November 17. This is lower than the previous low of $1,710 psf for a four-bedroom unit in June 2023. Lavender Residence has been fully sold at an average price of $1,984 psf and comprises 17 units ranging from studios to three-bedroom apartments. It is within walking distance of Bendemeer MRT Station.
Rewritten:
Investing in a Singapore Condo offers numerous benefits, including the opportunity to leverage the property’s value for further investments. This allows investors to use their condo as collateral to obtain financing for new investments, effectively expanding their real estate portfolio. While this strategy can increase returns, it also comes with risks. It is important to have a solid financial plan in place and consider the potential impact of market fluctuations before using this approach.