Canninghill Piers penthouse tops highest psf price transactions at $5,360 psf

By Felicia Tan
/ EdgeProp Singapore |
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SINGAPORE (EDGEPROP) - In this column, we look at condominium projects that have hit new highs in terms of psf prices, and those that have crossed new lows, based on data from URA Realis and Squarefoot Research for the period of Nov 8 to 21.

Highest psf prices

Canninghill Piers - EDGEPROP SINGAPORE
Photo of Canninghill Piers scale model: Samuel Isaac Chua/The Edge Singapore
The highest transaction recorded on a psf price basis was for the 8,956 sq ft, super penthouse at Canninghill Piers.
The sole penthouse unit on the top floor of the development’s 48-storey tower in Clarke Quay in District 6 was sold for $48 million ($5,360 psf) on Nov 21 during its launch weekend.
The psf price is the highest seen so far for the 99-year-leasehold development by Singapore’s two giant developers, CapitaLand Development and City Developments.
Canninghill Piers is a redevelopment of the former Liang Court shopping mall, Novotel Singapore Clarke Quay hotel and Somerset Liang Court serviced apartments. The new integrated development will have a gross floor area of 1.1 million sq ft.
The 696 residential units at CanningHill Piers will be spread across two towers: a 48-storey high-rise tower and a 24-storey tower. Both will be linked by a sky bridge on the 24th level.
Canninghill Piers has one- to five-bedroom units, with sizes of 409 to 2,788 sq ft, as well as sky suites from 2,874 sq ft. The project is scheduled for completion in 2025.
The development enjoys direct access to Fort Canning MRT Station on the Downtown Line and is within walking distance of Clarke Quay Station on the North-East Line. Based on caveats lodged, the project has sold 546 units since its launch.
Photo of Park Nova: Shun Tak Holdings
Another property that saw a new high in terms of psf price is the freehold Park Nova on Tomlinson Road in prime District 10. The luxury 54-unit development was launched by Hong Kong-listed Shun Tak Holdings in April, and marked its debut in the luxury residence segment in Singapore.
On Nov 8, a 2,207 sq ft, three-bedroom unit on the 10th floor was sold for $10.69 million, or $4,843 psf, which is a new high for the development. Another similar-sized unit on the ninth floor was sold for $10.61 million, or $4,810 psf.
At Park Nova, the smallest units are two-bedroom-plus study apartments of 1,432 sq ft. The rest are a mix of three-bedroom-plus-study units of 2,207 sq ft, and four-bedroom units of 2,895 to 2,906 sq ft.
There are also three duplex penthouses with sizes ranging from 3,299 to 5,899 sq ft. All three penthouses have been sold. Based on caveats lodged, the project is about 60% sold to date.

Lowest psf prices

Photo of NoMa scale model: Samuel Isaac Chua/The Edge Singapore
NoMa, along Guillemard Road on District 14, registered a new low in terms of psf price following the sale of a 1,335 sq ft apartment on Nov 13.
The four-bedroom unit on the eighth floor was sold for $1.97 million, or $1,478 psf, making the deal an all-time low in psf terms for the freehold development. The low psf price could be attributed to the unit being a larger unit on the penthouse level.
Developed by the Macly Group, NoMa has three 8-storey blocks comprising one-, two- and four-bedders of 388 to 1,355 sq ft each. The boutique development contains just 50 units.
The development is within walking distance of Dakota MRT Station on the Circle Line. It is also located a stone’s throw away from Kong Hwa School, as well as the Old Airport Road Food Centre and Shopping Mall.
Photo of 26 Newton: Samuel Isaac Chua/The Edge Singapore
Another development that saw a new low in terms of psf price is 26 Newton. On Nov 19, a 1,378 sq ft, two-bedroom penthouse unit was sold for $2.52 million, or $1,829 psf. The unit is located on the fifth floor of the 25-storey tower.
Developed by Novelty Corp, the condominium at 26 Newton was completed in 2016. Located in prime District 11, the tower has 180 units, predominantly one- and two-bedroom apartments of 474 to 775 sq ft. There are also one- and two-bedroom penthouses of 969 to 1,539 sq ft.
26 Newton is located near Newton MRT Interchange Station for the North-South and Downtown Lines. Schools nearby include St Joseph’s Institution Junior and Anglo-Chinese School (Primary) on Barker Road.

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