At The Orchard Residences, a 4,532 sq ft, four-bedroom unit was sold for $14.7 million, or $3,244 psf on September 15. This is the priciest transaction among non-landed homes in district 9 this year. On the second spot is the transaction of a 3,767 sq ft, three-bedroom unit at Skyline @ Orchard Boulevard in February that fetched $12.4 million, or $3,202 psf.

At the peak of the market, a 4,273 sq ft unit at The Orchard Residences fetched $21.4 million, or $5,000 psf in July 2007. However, prices have never breached above $4,000 psf over the past two years.

The Orchard Residences sits on top of the ION Orchard shopping mall and the Orchard MRT station. The 175-unit luxury apartment was completed in 2010. The typical units in the 99-year leasehold project are three- and four-bedroom units with sizes starting from 1,808 sq ft.