JUST SOLD: Luxury condo unit in district 10 sold at $3,400 psf

By Tan Chee Yuen / The Edge Property | December 10, 2015 5:49 PM SGT
A 2,917 sq ft unit at Bishopsgate Residences was sold in November for $9.92 million, which worked out to be $3,400 psf. Earlier this year, another 6,082 sq ft unit changed hands for $21.08 million, or $3,465 psf in August.
Since 2013, home prices at Bishopsgate Residences have never fallen below $3,400 psf. According to URA, prices of high-end, non-landed homes have fallen 9% since the peak in 1Q2013 and have returned to 2010 levels.
Historical transactions at Bishopsgate Residences
Contract date
Area (sq ft)
Price ($)
Price ($ psf)
18-Nov-15
2,917
9,917,800
3,400
27-Aug-15
6,082
21,071,994
3,465
20-Dec-13
3,143
10,686,200
3,400
19-Jul-12
3,165
10,418,899
3,292

Source: URA, The Edge Property

A location scan of properties within 500m of Bishopsgate Residences shows that the project has set the ceiling for average home prices in the vicinity which started at $1,079.
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Bishopsgate Residences is luxury condominium development in prime district 10. Completed in 2012, the freehold property is located within 500m from the upcoming Orchard Boulevard MRT station of Thomson East Coast Line.
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