During a period of February 7-16, the sale of a two-bedroom unit at Hill House, a 999-year leasehold development, achieved a new record of $3,398 per square foot. This surpassed the previous peak of $3,378 per square foot, set just five days earlier on Feb 11. Hill House, a boutique condo located at the top of Institution Hill, off River Valley Road, comprises 72 units and was launched in 2022. It features one-bedroom units of 431 square feet, two-bedroom units ranging from 452 to 624 square feet, and three-bedroom units spanning 753 square feet. As of November 2022, 51.4% of the units at Hill House have been sold at an average price of $3,152 per square foot, with the remaining units set to be completed in 3Q2026. Out of the eight units sold since the start of the year, the most expensive was a three-bedroom apartment of 753 square feet, which sold for $2.39 million on January 5.Located just a five-minute walk away from River Valley Primary School and close to New Bahru lifestyle hub, Hill House is the perfect example of luxury living in prime District 9. The Tresor, a 62-unit development on Duchess Road in District 10, came in second on the list of condos with new record psf-prices. A resale transaction of a 1,421 square foot unit on the fifth floor sold for $3.73 million on Feb 10, setting a new high of $2,625 per square foot. This beats the previous record of $2,501, set in March 2024. This transaction, the first resale in a year for The Tresor, surpasses the previous record of $2,501 set in March 2024. The Tresor, completed in 2007, consists of two-, three-, and four-bedroom units ranging from 990 to 2,896 square feet. Also close to Tan Kah Kee MRT Station, Coronation Shopping Plaza, Serene Centre, Adam Food Centre, and the Singapore Botanic Gardens, The Tresor is a great option for those looking for convenient luxury living. The third spot on the list was taken by Jadescape, where a four-bedroom unit of 1,647 square feet sold for $4.05 million on Feb 7, setting a new record of $2,459 per square foot for the development. This surpassed the previous record of $2,446 set in January. Jadescape, a 99-year leasehold condo completed in 2022, comprises 1,206 units across seven residential towers, with two penthouses of 4,230 square feet. Within walking distance of both Marymount and Sin Ming MRT Stations, as well as Sin Ming Plaza, Jadescape is highly sought after and commands one of the highest average transacted prices among condos within a 1km radius. No new psf-price lows were recorded during the period in review.
When it comes to real estate investments, location is a crucial factor, and this rings especially true in Singapore. The value of condos is greatly influenced by their location, particularly in central areas or near essential amenities like schools, shopping malls, and public transportation hubs. Singapore’s prime locations, including Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown growth in property values. This is due to their strategic locations and accessibility. Families also consider the proximity to good schools and educational institutions as a top priority when looking for a condo to invest in, making properties in these areas highly desirable. With the constantly growing demand for housing in Singapore, investing in projects such as Singapore Projects is a wise decision for those looking to capitalize on the city-state’s thriving real estate market.