SINGAPORE (EDGEPROP) -- In this column, we look at condominium projects that have achieved new highs in terms of psf price and those that have seen new lows, based on URA Realis data for the period of Oct 26 to 29.
Read also: Unit at Ardmore Park reaps $5.1 mil profit
The highest-price transaction recorded on a psf basis was for a 2,885 sq ft, four-bedroom unit at the Ardmore Park condominium. The unit on the 21st floor changed hands for $11.3 million, or $3,917 psf. This is the first time a transaction has crossed $3,900 psf, nudging it closer to the $4,000 psf mark.
Developed by Wheelock Properties, the Ardmore Park condominium was completed in 2001. The condominium has 330 units over three 30- storey towers. Even though the development is now 20 years old, it continues to be the bellwether for luxury condos in the area. (Discover insightful data of any Singapore condominium with our condo directory)
At Ardmore Park, all typical units have an identical layout and four bedrooms of 2,885 sq ft. There are two penthouses in each tower, and these are duplexes of 8,740 sq ft each.
Prior to this latest transaction, two other units had changed hands at prices that surpassed the previous peak of $3,688 psf achieved in January 2010, when a 27th-floor unit fetched $10.64 million ($3,688 psf). One of the units, on the 25th floor, fetched $10.8 million ($3,755 psf) in August. Another unit on the 23rd floor changed hands for $10.75 million ($3,726 psf) in early October.
Located just off Draycott Park and Draycott Drive, Ardmore Park is part of the Ardmore-Draycott enclave that is also known as Singapore’s “billionaire belt”. In the vicinity are Tanglin Club and American Club, as well as the prime Orchard Road shopping belt.
Next on the list is Nyon on Amber Road in District 15, which saw a 484 sq ft, one-bedroom unit on the 16th floor sold for $1.32 million, or $2,721 psf, on Oct 29.
Developed by Aurum Land, Nyon has a total of 92 units in a single 18-storey block.
The project has achieved new highs in terms of psf price six times since June this year. They were all new sales for the 484 sq ft, one-bedroom units. On June 30, one of the units was sold for $1.31 million, or $2,700 psf.
The name of the condo is a play on the Peranakan word “nyonya”, which is a name for Straits Chinese women. Its overall aesthetic is also inspired by traditional Peranakan design motifs and colours.
Nyon sits on a freehold site of 28,409 sq ft. It has a unit mix of one- to three-bedroom units from 484 sq ft to 1,582 sq ft. There are four 3-bedroom penthouses from 1,281 sq ft to 1,615 sq ft.
For the week, the 99-year leasehold Uptown @ Farrer was the only project to see a new low in terms of psf price. On Oct 26, a 1,184 sq ft unit was sold for $1.92 million, or $1,619 psf. The three-bedroom unit is located on the 11th floor of a mixed-development 24-storey block.
Including its latest transaction, the development has been seeing a total of six new lows in terms of psf price since April this year.
Developed by listed construction and property development company, Low Keng Huat, Uptown @ Farrer is a mixed-use development with 116 residential units in a 21-storey tower; an 18-storey block with 240 serviced apartments, managed by CapitaLand under its co-living brand Lyf; and a four-storey podium with seven strata shops. The project is targeted for completion sometime next year.
Located on Perumal Road in District 8, Uptown @ Farrer is within walking distance of Farrer Park MRT Station on the NorthEast Line and Little India MRT Interchange Station for the North-East and Downtown Lines. It is also close to amenities such as City Square Mall, Serangoon Plaza and Mustafa Centre.
Check out the latest listings near Ardmore Park, Nyon, Uptown @ Farrer, Farrer Park MRT Station, Little India MRT Interchange Station