Jadescape records new high of $2,286 psf
By Nur Hikmah Md Ali
/ EdgeProp Singapore |
SINGAPORE (EDGEPROP) - Jadescape topped the list of condos that saw new psf-price highs from Dec 15 to 26, 2023. The new high of $2,286 psf came from the sale of a 1,421 sq ft four-bedder for $3.25 million on Dec 15. This beats the previous high of $2,283 psf, which was set when a two-bedroom unit changed hands for $1.75 million in August 2023.
The seller of the four-bedroom unit bought the apartment from the developer in September 2020 for $2.48 million ($1,747 psf). This means that the seller made a profit of about $770,000. The condo saw 60 transactions last year, out of which 13 were resales and the remaining 47 were sub-sales.
Jadescape is a 99-year leasehold condo at the junction of Marymount Road and Shunfu Road in Bishan, District 20. The 1,206-unit development was completed in 2022 and comprises seven residential towers. It has a mix of one- to five-bedroom apartments occupying 527 sq ft to 2,099 sq ft.
Read also: RV Residences hits new high of $2,480 psf
The 1,421 sq ft unit at Jadescape was sold for $3.25 million on Dec 15, 2023 (Photo: Ong&Ong).
Based on caveats lodged with the URA, the developer had fully sold all units at the property by September 2022 after its launch in September 2018.
Jadescape is a redevelopment of the former Shunfu Ville, a privatised Housing and Urban Development Co estate. The condo is located near MacRitchie Reservoir Park. It is accessible via the Marymount and Upper Thomson MRT Stations.
Another 99-year leasehold condo, Sky Vue, came in second on the list. It saw a new high of $2,191 psf with the sale of a 1,141 sq ft three-bedder for $2.5 million on Dec 18. This beats the previous high from the sale of a similar-sized unit for $2.48 million ($2,174 psf) on Dec 1, 2023.
A 1,141 sq ft unit at Sky Vue (left) was sold for $2.5 million on Dec 18, 2023, setting a new high of of $2,191 psf (Photo: Samuel Isaac Chua/EdgeProp Singapore).
The Dec 18 transaction marks the 33rd out of 34 sales at the condo last year. The seller of the unit had purchased the apartment from the developer in April 2016 for $1.73 million ($1,516 psf), and hence made a profit of $769,800.
Sky Vue condo is located on Bishan Street 15 in District 20. It was completed in 2016 and consists of 694 units. These range from 484 sq ft, one-bedroom units to 2,282 sq ft, four-bedroom units.
Meanwhile, in River Valley in prime District 10, Cliveden At Grange saw a new psf-price low during the period in review. This came from the sale of a 2,842 sq ft four-bedder for $5.05 million ($1,777 psf) on Dec 19.
The seller had purchased the unit from the developer in November 2007 for about $12.05 million ($4,242 psf), and hence incurred a loss of $7 million. This is also the most unprofitable transaction made during the period in review.
Freehold Cliveden At Grange saw a new low of $1,777 psf during the period in review (Photo: Samuel Isaac Chua/EdgeProp Singapore).
The previous record psf-price low at the condo occurred with the sale of a 2,153 sq ft, three-bedroom apartment for $4.5 million ($2,090 psf) in October 2016. The seller had purchased the unit from the developer for $7.07 million ($3,286 psf) in July 2007, and hence suffered a loss of $2.57 million.
The Dec 19 sale is the third transaction made at the condo last year. The first transaction was in May when a 2,842 sq ft four-bedder changed hands for $8.1 million ($2,850 psf). The second sale was in November and involved a similar-sized unit going for $9.8 million ($3,449 psf).
Cliveden at Grange is a freehold condo located on Grange Road. It consists of 110 three- to five-bedroom units of 2,153 to 6,028 sq ft. The development is near other luxury condos and the prime Orchard Road shopping district.
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