SINGAPORE (EDGEPROP) - In this week’s column, we look at condominium projects that have achieved new highs in terms of price psf and those that have seen new lows, based on URA Realis data for the period of Sept 13 to 19.
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The highest transaction record on a psf price basis was for a 5,360 sq ft unit at Le Nouvel Adrmore. The four-bedroom unit located on the ninth floor was sold for $26.3 million on Sept 16, which translates to a price psf of $4,906.
This marks a new all-time high for the development in terms of price psf.
Le Nouvel Ardmore is a 43-unit ultra-luxury condominium project developed by Wing Tai Holdings and designed by famed architect Jean Nouvel. It was completed in 2014. The freehold building, located along Ardmore Park in prime District 10, contains mainly three- and four-bedroom units that start from 3,800 sq ft.
In 2015, the condo’s 13,875 sq ft triplex super penthouse was sold for $51 million to Alibaba co-founder and former Taobao president Sun Tongyu. To date, 31 or 72.1% of the units at Le Nouvel Ardmore have been sold based on caveats lodged, with an average price psf of $4,169 achieved. (Discover insightful data of any Singapore condominium with our condo directory)
Orchard Road is within close proximity to the development, which is also a short walking distance to private members’ clubs such as Tanglin Club and The American Club. Reputable schools, including Raffles Girls’ School (Secondary) and the Anglo-Chinese School, are also located nearby.
Another Wing Tai development, The M, also saw a new high in terms of psf price. A two-bedroom, 614 sq ft unit was sold for $1.86 million on Sept 16, or $3,035 psf. To date, 88.1% of the project’s units have been sold, based on caveats lodged, with an average price psf of $2,478.
The 99-year leasehold development is located along Middle Road at the heart of the Arts and Cultural District in District 7. It is currently under construction and scheduled to receive its temporary occupation permit (TOP) in 2024. The M is a mixed-used development that comprises three 20-storey towers and one 6-storey tower. There are a total of 522 residential units as well as one level of retail spaces. The residential units comprise one- and two-bedroom units, with sizes ranging between 527 and 764 sq ft.
The M is part of the overall transformation taking place along Beach Road. It is located next to GuocoLand’s Midtown Modern, which is part of the Guoco Midtown integrated development.
Amber Park recorded a new low in terms of price psf after a 1,572 sq ft unit changed hands for $3.5 million or $2,230 psf on Sept 17. The four-bedroom unit is located on the sixth floor. Located in District 15, Amber Park is a freehold development comprising three 21-storey blocks with a total of 592 units. Its units encompass a mix of one- to five-bedroom apartments ranging between 463 and 2,336 sq ft, as well as six-bedroom penthouses measuring between 4,392 and 5,005 sq ft.
The project is expected to get its TOP in 3Q2023. It is jointly developed by City Developments and Hong Leong Group. To date, 468 units have been taken up since its launch in May 2019, with an average price of $2,467 psf achieved.
Amber Park is located at Amber Gardens in prime District 15. It is within walking distance to the upcoming Tanjong Katong MRT Station on the Thomson-East Coast Line which is scheduled for completion in 2023. It is also close to East Coast Park and is a 10-minute drive to Changi Airport.
Another project that saw a new low on a psf price basis is Nyon, a freehold apartment located on Amber Road. On Sept 14, a three-bedroom unit measuring 1,582 sq ft on the sixth floor was sold for $3.13 million or $1,978 psf.
Nyon is a boutique condominium with a total of 92 units. Developed by Aurum Land, the project is scheduled for completion in 2022. It is also within walking distance of the upcoming Tanjong Katong MRT Station. Nyon is also within a short walking distance to the underground pedestrian link to East Coast Park.
The project comprises an 18-storey residential tower, housing a 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. Since its launch in February 2019, 66.3% of its units have been sold to date, with an average price of $2,230 psf achieved.
Check out the latest listings near Le Nouvel Ardmore, The M, Amber Park, Nyon, Tanjong Katong MRT Station, Raffles Girls’ School (Secondary), Anglo-Chinese School