The 59-unit High Point is up for collective sale for the fifth time, at a guide price of $580 million. (Photo: EdgeProp Singapore)
High Point, a prime Orchard condo, is being relaunched for collective sale with a guide price of $580 million, according to ETC, the marketing agent for the property.
Located at 30 Mount Elizabeth, the condo occupies a plot spanning approximately 47,607 sq ft. According to ETC, the guide price translates to a land rate of $2,641 psf per plot ratio (ppr), including the 7% bonus floor area.
The 59-unit High Point is zoned for residential use, with a building height control of up to 36 storeys, under the URA Master Plan 2025. No land betterment charge will be imposed when redeveloping the site to its baseline plot ratio of 4.45, thus stabilising overall land cost, says ETC.
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This current tender is the development’s fifth en bloc attempt. In December 2021, High Point came close to closing a deal when Shun Tak Holdings, a Hong-Kong listed conglomerate, submitted a bid for $556.7 million, amounting to a land rate of $2,626 psf ppr.
However, the developer backed out and forfeited the $1 million deposit, simultaneously dropping its plans to redevelop the condo into a luxury residential project.
Industry watchers posit the decision was prompted by new property cooling measures that came into effect on Dec 16, which included a hike in additional buyer’s stamp duty (ABSD) for foreign buyers and developers, including a non-remittable 5%.
Swee Shou Fern, head of investment advisory at ETC, says that the launch of the property is timely, “given the limited pipeline of new ultra-luxury freehold residential projects in the Orchard Road vicinity”.
The latest freehold residential site sold in the area was 21 Anderson. It was bought by Kheng Leong Company, the property investment and development arm of the Wee family, in September 2021 for $213 million, or $2,490 psf ppr. It has since been redeveloped into a 19-unit ultra-luxury residential condo with the same name.
ETC says 16 of the 19 units have been sold at an average of $4,932 psf. The development recorded its peak price of $5,347 psf during the sale of a 4,489 sq ft unit in September 2025.
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Demand for the ultra-luxury residential segment has been picking up since 1Q2025, after the ABSD increase in 2023. In 1Q2026, 17 ultra-luxury residences priced above $10 million were transacted, marking the highest quarterly volume on a y-o-y basis.
Swee adds that this demand is “supported by local and international ultra-high-net-worth individuals alike, who seek long-term capital preservation in globally recognised safe-haven markets such as Singapore”, alongside “scarcity of brand-new freehold opportunities in District 9”.
The public tender exercise for the site at 30 Mount Elizabeth closes on June 9, at 3pm.