SINGAPORE (EDGEPROP) - The sale of a 1,410 sq ft, two-bedroom penthouse unit at Robinson Suites on May 18 has set a new psf price low in the development after the unit was sold for $3 million ($2,128 psf).

See also: Four-bedder at Cliveden at Grange sold at $2.34 mil loss

Based on URA caveats, the previous psf price low at Robinson Suites involved the sale of a 1,346 sq ft, two-bedroom penthouse unit that changed hands for $3 million ($2,230 psf) in July 2018.

Robinson Suites features one- and two-bedroom units ranging from 484 sq ft to 990 sq ft. There are also six penthouse units ranging from 1,087 sq ft to 1,410 sq ft.

Excluding the sale of the penthouse units, resale prices at Robinson Suites have been relatively consistent over the past two years. At least eight resale transactions have been recorded at the condominium during this period with prices ranging from $1.2 million ($2,372 psf) for a 506 sq ft unit that was sold in September 2020 to $1.23 million ($2,535 psf) for a 484 sq ft unit that was sold in December 2020.

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Robinson Suites is a freehold condominium at 50 Robinson Road in District 1. The 167-unit development is located within the Central Business District and close to prime commercial buildings along nearby Shenton Way, Raffles Place, Marina Boulevard, Central Boulevard and Tanjong Pagar. (Find Singapore commercial properties with our commercial directory)

As a result, the condominium enjoys good locational attributes and transport connectivity. In particular, at least four MRT stations are close to the development: Raffles Place Interchange on the North-South and East West Lines, Tanjong Pagar on the East-West Line, and Telok Ayer and Downtown stations on the Downtown Line. The upcoming Shenton Way station on the Thomson-East Coast Line is also nearby.

At the top of the table, Fyve Derbyshire in Novena has set a new psf price high just two weeks after the sale of a developer unit crossed the $2,600 psf threshold for the first time since its launch in January 2019.

Despite not registering any new sales between May 2021 and January, there have been five transactions over the last four months. All of the sales involved similar two-bedroom units of 657 sq ft with prices ranging from $1.689 million ($2,572 psf) to the newest record for $1.76 million ($2,673 psf) which was set on May 22. The previous record had gone to another 657 sq ft unit that was sold for $1.71 million ($2,603 psf) on May 9.

Fyve Derbyshire is a freehold condo project along Derbyshire Road in prime District 11. It is a 71-unit boutique development that comprises a 19-storey residential tower that houses a mix of two- to three-bedroom units ranging from 560 sq ft to 936 sq ft.

The recent sales at Fyve Derbyshire coincides with a resumption of sales by its developer Roxy-Pacific as the project approaches its estimated completion by May 2024.

According to the developer, the average selling price at the project, as of end-May 2022, is about $2,605 psf and the entire development is 82% full sold with only 13 units available. "Buying momentum and pricing is picking up in the Novena area and we can feel that buyers find value in the area, (they also expect) prices of most suburban new launches might cross $2,000 psf soon," says Teo Hong Lim, executive chairman of Roxy-Pacific Holdings.

Another upcoming project that recorded a new price high was The Landmark on Chin Swee Road. The sale of a 495 sq ft, two-bedroom unit has set a new price high in the development after it was sold for $1.28 million ($2,592 psf) on May 17. This surpasses the previous record which involved a 1,141 sq ft, three-bedroom unit that fetched $2.956 million ($2,591 psf) when the unit was sold on Nov 28, 2020.

The Landmark is a 99-year leasehold development by a consortium comprising MCC Singapore, SSLE Development and ZACD Group. The 396-unit development was launched for sale on Nov 28, 2020. Its opening sales weekend saw 110 units sold, which translates to about 28% of the total units in the development. The average selling price at that time was $2,250 psf.

The development comprises a mix of one- to three-bedroom units that range from 495 sq ft to 1,141 sq ft. Based on URA data, The Landmark is about 39% sold as of end April with an average selling price of about $2,247 psf.

The developers sold 11 units last month with prices ranging from $1.28 million ($2,592 psf) for a 495 sq ft unit that was sold on May 17 to $2.37 million ($2,199 psf) for a 1,076 sq ft unit that was sold on May 4.

Check out the latest listings near Fyve Derbyshire, Robinson Suites, Dynasty Garden, The Landmark, Raffles Place Interchange MRT Station, Tanjong Pagar MRT Station, Telok Ayer MRT Station, Downtown MRT Station

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