The sale of a 614 sq ft unit at Leedon Green for $3,049 psf on June 18 has set a new psf price high for the project. (Picture: Samuel Isaac Chua/The Edge Singapore)
SINGAPORE (EDGEPROP) - The sale of a 614 sq ft, two-bedroom unit at Leedon Green on June 18 helped the upcoming condominium set a new psf price high to date. The ninth-floor unit was sold by the developer for $1.87 million ($3,049 psf). This surpasses the previous record set on March 29 involving the sale of an 818 sq ft, two-bedroom plus study unit on the seventh floor that the developer sold for $2.47 million ($3,025 psf).
Leedon Green is a freehold development on Leedon Heights in prime district 10. The condo is located in the highly desirable Leedon Road residential neighbourhood. Popular residential developments in the vicinity include Leedon Residence, d’Leedon, and the upcoming Hyll on Holland.
Launched for sale in January 2020, the 638-unit Leedon Green is jointly developed by MCL Land and Yanlord Land. The entire development comprises seven 12-storey blocks, featuring a mix of one- to four-bedroom units that range from 474 sq ft to 2,680 sq ft.
Based on URA caveats that are compiled by EdgeProp Singapore, developer sales at Leedon Green have been relatively steady since the project launch two years ago. According to the data, the development has a cumulative take-up rate of about 62% as of the end of May, with about 400 units sold so far.
To date, the most expensive units sold at Leedon Green are the five exclusive four-bedroom duplex Garden Villa units that range from 2,411 sq ft to 2,680 sq ft. Prices for these limited units range from $6.02 million ($2,496 psf) for the 2,411 sq ft unit, to $6.54 million ($2,441 psf) for the largest 2,680 sq ft unit.
The week also saw the freehold condo, Neu at Novena, set a new psf price high. A 646 sq ft, two-bedder on the 17th floor was sold for $1.97 million ($3,046 psf) on June 14. This is higher than the previous record which had been set by the sale of another similarly sized two-bedroom unit on the 16th floor that the developer sold for $1.92 million ($2,970 psf) back in March 2020.
The 87-unit boutique development is located on Moulmein Rise in Novena in prime District 11. The project is being developed by a consortium comprising property developers Roxy-Pacific Holdings, Macly Group, and local construction firm Lim Wen Heng Construction. The condo comprises a single 17-storey residential block with a mix of two- to four-bedroom units that range from 549 sq ft to 1,302 sq ft.
The freehold development was first launched for sale in October 2019 which saw 44 units (50%) being snapped up on the opening sales weekend. At that time, the units were going for between $2,450 psf to $2,850 psf.
Based on submitted developer sales data, the take-up rate at Neu at Novena has been relatively flat over the past 17 months. It inched upwards from a cumulative take-up rate of 80.5% in January 2021 to 88.5% in May. The average sales price at the development has also slightly increased to about $2,556 psf.
The most expensive unit sold by the developers so far is a 1,302 sq ft, four-bedroom unit on the 17th floor that fetched $3.47 million ($2,668 psf) on Oct 19, 2019. It is followed by the sale of another four-bedder of similar size on the ninth floor that transacted for $3.3 million ($2,530 psf) on Oct 23, 2019.
The week also saw a new psf price low at Rymden 77, a boutique freehold condo at 77 Lorong H Telok Kurau in District 15. A 1,313 sq ft, two-bedroom plus study unit was sold by the developer for $1.88 million ($1,433 psf) on June 15. Previously, the record low was set by the sale of a 1,475 sq ft, three-bedroom unit that transacted for $2.15 million ($1,457 psf) on April 18, 2022.
See also: Rymden 77: Scandinavian design, spacious apartments in Telok Kurau
Rymden 77 is the maiden development project of Q Development, the property development arm of builder Quek Hock Seng Construction.
Developer sales at Rymden 77 have surged in the past six months. The project had a cumulative take-up rate of 22.6% in January but increased to about 85% as of May. Based on URA caveats, the average selling price at the development is about $1,713 psf. The most expensive unit sold so far at the development is a 1,948 sq ft, four-bedroom unit that went for $2.96 million ($1,518 psf) when it was sold on April 15.
The 31-unit development features a mix of two- to four-bedroom units that range from 904 sq ft to 1,948 sq ft. The project was launched for sale in April 2021 and is expected to be completed by the end of this year.
Check out the latest listings near Leedon Green, Neu At Novena, Rymden 77, Leedon Residence, d’Leedon, Hyll on Holland