Last penthouse at Sky Everton sets record price high of $3,189 psf in development

By Timothy Tay

/ EdgeProp Singapore |

April 15, 2022 10:00 AM SGT

The 2,228 sq ft unit on the 36th floor was sold by the developer for $7.1 million ($3,189 psf) on March 31.

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SINGAPORE (EDGEPROP) - A six-bedroom penthouse unit at the upcoming Sky Everton set a new price record for the freehold condominium. The 2,228 sq ft unit on the 36th floor was sold by the developer for $7.1 million ($3,189 psf) on March 31.

Sky Everton is a 262-unit project along Everton Road in District 2. It is developed by SL Capital, a joint venture of Sustained Land, Ho Lee Group, Kwong Lee Land and Penjuru Capital. The project features a mix of one- to four-bedroom units that range from 463 sq ft to 1,345 sq ft.

The development also includes two penthouses that have both been sold. An 1,819 sq ft, five-bedroom penthouse was sold for $5.68 million ($3,127 psf) on Jan 30 while the larger six-bedroom penthouse was sold on March 31.

Sky Everton was one of the best-performing new projects in 2Q2019. The development was launched for sale in June 2019 and the developers sold more than 100 units over the following eight days and achieved a median price of $2,524 psf.

According to EdgeProp’s analysis of developer’s sales at Sky Everton, the project has seen relatively consistent sales over the past two years and prices have gradually risen to a median of $2,824 psf as of Feb 2022.

URA caveats also show that Sky Everton is 97% sold. Excluding the sale of the two penthouses, the most expensive unit at the condo is a 657 sq ft, two-bedroom unit on the 33rd floor that fetched $1.94 million ($2,952 psf) when it was sold in January 2020. (Discover insightful data of any Singapore condominium with our condo directory)

Another new project that saw a new price high set during the week was Leedon Green. An 818 sq ft, two-bedroom unit on the seventh floor was sold for $2.47 million ($3,025 psf) on March 29. It surpasses the previous record which was set by the sale of another 818 sq ft unit on the 12th floor that was sold for about $2.46 million ($3,017 psf) on Nov 27, 2021.

Leedon Green is a freehold development that is jointly developed by MCL Land and Yanlord Land. The project is located along Leedon Heights in prime District 10 and was initially launched in January 2020. The development saw modest sales at the start selling 35 units during its first month of sales, achieving a median price of $2,782 psf.

Based on EdgeProp’s analysis of the developer sales at Leedon Green, the take-up rate at the condo has been relatively steady over the past two years and the project is about 57% full sold with an average price of about $2,691 psf.

On the other hand, the sale of a 635 sq ft unit at Rangoon 88 set a new price low in the freehold apartment development. The one-bedroom unit was sold for about $710,000 ($1,118 psf) on March 30. This is just below the previous record low that involved the sale of a 1,313 sq ft unit that fetched about $1.57 million ($1,201 psf) when it was sold in October 2012.

Rangoon 88 is a freehold apartment development on Rangoon Road in District 8. It was completed in 2015 and comprises 48 units. The development is close to Farrer Park MRT station on the North-East Line and it is close to Farrer Park Hospital and City Square Mall.

Check out the latest listings near Sky Everton, Leedon Green, Rangoon 88, Farrer Park MRT station

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