The sale of a four-bedroom unit at Yong An Park has set a new psf-price high at the freehold condo and topped the list of condos that set a record price over the week of Sept 23 to 30.
The 3,434 sq ft unit on the 15th floor transacted for $9.1 million ($2,650 psf) when it was sold on Sept 25. This is the first time a resale unit at Yong An Park has changed hands for more than $2,600 psf.
It surpasses the previous record of $2,505 psf, which was set last August when another 3,434 sq ft four-bedroom unit on the 13th floor was sold for $8.6 million. That was the first time a resale unit at Yong An Park crossed the $2,500 psf threshold.
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However, in terms of absolute price, the most expensive resale unit at Yong An Park is a 6,878 sq ft penthouse on the 25th floor, which transacted for $15 million ($2,181 psf) on Feb 20. The previous record involved a 7,718 sq ft unit on the ground floor that changed hands for $14.1 million ($1,824 psf) in May 2023.
This is the first time a resale unit at Yong An Park has fetched more than $2,600 psf. (Picture: Samuel Isaac Chua/The Edge Singapore)
Completed in 1986, Yong An Park is a 288-unit condo on River Valley Road in prime District 9. The development comprises one- to four-bedroom units ranging from 1,023 sq ft to 3,778 sq ft, three- to five-bedroom penthouses measuring 3,466 sq ft and 6,878 sq ft, as well as a collection of six-bedroom strata-titled townhouses.
The condo is next to River Valley Primary School and Great World MRT Station on the Thomson-East Coast Line, which is directly connected to Great World City shopping centre.
Three new projects were recently launched in this vicinity. The latest is Zyon Grand, an integrated development by City Developments and Mitsui Fudosan. The 706-unit project previewed on Oct 8 with prices starting from $2,689 psf.
Wing Tai launched River Green over the weekend of Aug 2–3. The 524-unit development moved 460 units (88%) over its opening sales weekend and set an average price of $3,130 psf. Likewise, Allgreen Properties began sales of Promenade Peak on Aug 1. The 596-unit development sold 320 units (54%) and recorded an average price of $3,343 psf.
A two-bedroom unit at The Makena was sold for $2.25 million ($2,431 psf) on Sept 29. (Picture: Samuel Isaac Chua/The Edge Singapore)
Meanwhile, the sale of a 926 sq ft unit on the 11th floor at The Makena set a record psf-price high at the freehold condo when the two-bedder transacted for $2.25 million ($2,431 psf) on Sept 29. The previous psf-price high involved a 1,744 sq ft unit on the 20th floor that changed hands for $3.91 million ($2,242 psf) when the three-bedroom unit was sold on March 25.
Read also: Is it a Good Deal?: A condo along River Valley Road fetched a profit of $6.55 million
Completed in 1998, The Makena is a 504-unit development on Meyer Road in District 15. According to caveats compiled by EdgeProp Singapore, prices at The Makena have been steadily increasing in recent years. Prices have increased from about $1,570 psf from Oct 2020 to $2,050 psf this month.
Only one transaction during the week of Sept 23 to 30 set a record psf-price low. The sale of a two-bedroom unit at The Reef at King’s Dock set a record price low when the 883 sq ft unit on the sixth floor transacted in a sub-sale for $1.47 million ($1,666 psf) on Sept 26.
Previously, the record psf-price low involved the sale of a 1,163 sq ft unit, two-bedroom unit that fetched $2.32 million ($1,995 psf) when it was sold in June 2021. These two transactions are the only units at The Reef at Kings Dock which have transacted for less than $2,000 psf.
Only two units at The Reef at Kings Dock have been sold for less than $2,000 psf. (Picture: Keppel)
The Reef at Kings Dock is one of four condos in Keppel Bay in District 4. The other developments are Reflections at Keppel Bay, Caribbean at Keppel Bay, and Corals at Keppel Bay.
The 429-unit Reef was the latest project to launch in 2021, and it moved 280 units (65%) over its opening sales weekend, with prices starting from $2,330 psf. The condo was fully sold last September.
Based on caveats compiled by EdgeProp Singapore, prices at The Reef have moderated in recent months. The project saw its sales price peak at about $2,600 psf in December 2023, but prices have slide to about $2,580 psf as of end-Sept.
Read also: Resale four-bedder at Yong An Park reaps $6.55 mil profit
Check out the latest listings for Yong An Park, The Makena, The Reef At King's Dock properties