Freehold condo 1919 hits new psf-price high of $2,555
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Freehold boutique development 1919 hit a new psf-price high over the week of June 20 to 27. The record psf-price of $2,555 psf was achieved when an 861 sq ft, two-bedroom plus study unit on the fourth floor transacted for $2.2 million on June 24.
This is the first time a resale unit at 1919 has crossed the $2,500 psf threshold. The record beats the previous high of $2,445 psf, set when an 818 sq ft, two-bedder on the first floor changed hands for $2 million in November 2024.
Located at 110 Sophia Road in prime District 9, 1919 was developed by Aurum Land which launched the project in 2012. Designed by Park + Associates, the architecture of the condo celebrates the charm of historic black-and-white bungalows and the five-foot roofed walkways characteristic of shophouses.
Earlier this year, a 635 sq ft, one-bedroom unit on the first floor fetched $1.19 million ($1,874 psf) when it was sold on April 22. The sale of an 818 sq ft, two-bedder in November 2024 was the only resale transaction that was recorded at the development last year.
The new record at boutique development 1919 comes with sale of 861 sq ft, two bedroom plus study unit for $2.2 million on June 24. (Picture: Samuel Isaac Chua/ The Edge Singapore)
Based on a compilation of resale caveats by EdgeProp Singapore, the average resale price at the freehold condo has rebounded after hitting a trough in 2018 when prices fell to a low of $1,955. Today, EdgeProp estimates that the average price in 1919 has climbed to about $2,290 psf.
Among most of the freehold condos located within the Sophia Hills residential enclave, 1919 commands a relatively high average resale price, compared to similarly aged developments such as Parc Sophia, a 152-unit development off Sophia Road, where units typically transact for about $1,750 psf. Also on Sophia Road is the 15-unit Sophia Lodge where resale prices are about $1,630 psf.
On the other hand, new freehold projects such as Orchard Sophia, which sits next to 1919, commands the highest average price of $2,960 psf. The 78-unit development was launched for sale in 2023 and is about 63% sold to date.
The week also saw The Loft, a 99-year leasehold development at 22 Nassim Road, set a new psf-price high of $2,378 psf. This stems from the sale of a 1,346 sq ft two-bedroom unit on the third floor that transacted for $3.2 million when it was sold on June 26. The new psf-price high is slightly higher than the previous record of 2,362 psf, set when a 753 sq ft one-bedder on the third floor changed hands for $1.78 million in November 2023.
The Loft recorded a new psf-price high of $2,378 psf with the sale of a 1,346 sq ft unit for $3.2 million. (Picture: Samuel Isaac Chua/The Edge Singapore)
The sale of the two-bedroom unit last month is the first recorded resale at The Loft so far this year. The development recorded three resale units in 2024 — a 1,432 sq ft unit that was sold for $3.1 million ($2,165 psf) on May 6, a 1,701 sq ft unit that transacted for $3.9 million ($2,293 psf) on April 5, and the sale of a 1,109 sq ft unit for $2.13 million ($1,921 psf) on March 26.
Located in the exclusive Nassim Hill residential enclave in prime District 10, The Loft is close to the Orchard Road shopping belt, the Tanglin lifestyle cluster and other prime residential enclaves along Cuscaden Road and Orchard Boulevard. Landmarks, such as the Unesco World Heritage Singapore Botanic Gardens, and embassies, including the US Embassy, British High Commission and Chinese Embassy, are nearby.
Given its prestigious address and prime locational attributes, it is no surprise that resale prices at The Loft have continued to climb over the years. It has increased from about $1,300 psf in July 2005 to about $1,770 psf in July 2015. Today, EdgeProp estimates that the average resale price at The Loft is close to $2,165 psf.
The sale of a 1,130 sq ft unit at Nathan Place also set a record psf-price at the development during the week in review. The unit, a two-bedroom plus study on the third floor, was sold for $2.49 million ($2,203 psf) on June 23. It surpasses the previous high of $2,000 psf, set in 2021 when a 1,044 sq ft unit on the fourth floor changed hands for $2.088 million in July 2021.
Nathan Place saw a new high of $2,203 psf when a two-bedroom plus study unit sold for $2.49 million on June 23. (Picture: Samuel Isaac Chua/The Edge Singapore)
Nathan Place is a boutique 46-unit development on Nathan Road, off River Valley, in prime District 10. The latest resale at Nathan Place marks the first resale transaction at the freehold development in one and a half years. The previous resale was lodged in December 2023 when a 1,804 sq ft unit on the first floor transacted for $3.25 million ($1,804 psf).
The latest resale transaction data also captured the sale of a 3,326 sq ft four-bedroom unit at Sculptura Ardmore, which fetched $20 million, or $6,013 psf, when it was sold on June 25. In an article published on July 6, EdgeProp reported that it is only the eighth condo unit in Singapore to breach the $6,000 psf threshold.
No new psf-price lows were recorded between June 20 to 27.
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