More luxury condos breach $6,000 psf in 2025
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The year kicked off with a ground-breaking deal when a 5,899 sq ft duplex penthouse on the 20th floor of Park Nova was sold by the developer for $38.89 million, or $6,593 psf, on Jan 21. This sale marked the second-highest psf price ever recorded for a condo locally, trailing only the long-standing record set by The Marq on Paterson Hill. In November 2011, a 3,089 sq ft unit at the development sold for $20.54 million, or $6,650 psf.
Park Nova topped the list of condos that achieved new psf-price highs in 2025 (Photo: Samuel Isaac Chua/EdgeProp Singapore)
To date, there have only been 11 condo transactions above $6,000 psf, five of which took place in 2025. Apart from the unit sold at Park Nova, the other transactions occurred at The Marq on Paterson Hill, Skywaters Residences and Sculptura Ardmore.
The units sold at Park Nova, Skywater Residences and Sculptura Ardmore also place them at the top of the list of condo developments that achieved record psf prices in 2025, based on caveats lodged between Jan 1 and Dec 9. All three projects are located within prime districts in the Core Central Region (CCR).
The trend extends across the wider list, with all but Zyon Grand among the top 15 located in the CCR. This reflects sustained buyer interest in CCR properties, supported by their prime locations and proximity to key amenities.
Top three highs
The new psf-price high set at Park Nova this year marks a steep jump from the condo’s previous peak. Before this, the record was held by a 4,499 sq ft penthouse that fetched $26.026 million ($5,784 psf) when the project was first launched in May 2021.
Park Nova is a 54-unit boutique development along Tomlinson Road in Orchard, within prime District 10. Completed in 2024, the project comprises a single tower offering a mix of two-bedroom-plus-study to four-bedroom apartments, alongside four- and five-bedroom penthouses on the top floor. Regular units range from 1,432 sq ft to about 2,296 sq ft, while penthouses are significantly larger, starting from 3,229 sq ft and extending up to 5,899 sq ft.
A 1,798 sq ft, three-bedder at the Skywaters Residences was sold for $6,501 psf on Oct 8 (Photo: Perennial Holdings)
Skywaters Residences achieved the second-highest psf-price among condos that saw new peaks this year. This came with the Oct 8 sale of a 1,798 sq ft three-bedroom unit on the 30th floor by the developer for $11.69 million, or $6,501 psf. The unit is an Aman-branded residence within The Skywaters, the 63-storey landmark integrated development on Prince Edward Road in District 1.
Now under construction, this 99-year leasehold development is set to be completed in 2028. The lower floors will include offices and retail offerings, while luxury hotel Aman Singapore will occupy levels 24 to 26. Aman-branded residences will take up levels 28 to 30, while the remaining units at Skywaters Residences will occupy the upper floors.
The unit sold on Oct 8 surpassed the condo’s previous price record of $6,100 psf, set in May last year when a 7,761 sq ft penthouse on the 57th floor transacted for $47.34 million.
Third on the list is freehold condo Sculptura Ardmore, which hit its highest psf-price when a 3,229 sq ft, four-bedroom unit on the 31st floor changed hands for $20 million ($6,193 psf) on Nov 7. This beats the prior record of $6,013 psf, when a 3,326 sq ft four-bedder on the 26th floor fetched a $20 million price tag in June.
Sculptura Ardmore achieved a new high of $6,193 psf in November (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Completed in 2014, the 36-unit residential tower is located along Ardmore Park in prime District 10. It comprises four- to five-bedroom apartments ranging from 2,800 sq ft to 4,700 sq ft, alongside four premier residences with private pools, measuring between 4,200 sq ft and 10,300 sq ft. The development is within walking distance of Newton MRT Station, which serves the Downtown and North-South Lines.
Lows dominated by suburban condos
At the opposite end, Mayfair Park topped the list for new psf price lows in 2025, based on deals over the past year. The condo registered its lowest psf-price transaction in the past year on Sept 19, when a 915 sq ft unit changed hands for $408,888, translating to $447 psf. Based on available caveats, the latest transaction at the development before this took place four years earlier, when a similarly sized unit was sold for $400,000, or $437 psf.
The 99-year leasehold development was completed in 1972 and has about 26 years remaining on its lease, which commenced in 1952. Located along Rifle Range Road in Bukit Timah, Mayfair Park is situated near Rifle Range Park and within proximity to both King Albert Park and Beauty World MRT Stations on the Downtown Line.
Beyond Mayfair Park, the top 15 condos that recorded new psf-price lows in 2025 are dominated by properties located in the Outside Central Region. Many are 99-year leasehold developments that were completed around the 1990s and early 2000s, suggesting softer demand for older suburban condos.
Completed in 1988, Kindol Gardens is a small, low-density development comprising just 11 units (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Kindol Gardens, located along Jalan Malu-Malu in District 27, hit a new low of $549 psf when a 1,367 sq ft unit at the 999-year leasehold development fetched $750,000, or $549 psf, on Nov 12. Completed in 1988, Kindol Gardens is a small, low-density development comprising just 11 units. It is situated close to Canberra MRT Station (North-South Line).
Sing Lian Building, a freehold apartment on Changi Road in District 14, set a new low of $673 psf upon the sale of a 6,394 sq ft unit for $4.3 million on March 11. Prior to this, the eight-unit development last recorded a sale in July 2024, when a 6,394 sq ft unit changed hands for $4.1 million ($641 psf).
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