Newton Suites hits new psf-price high of $2,464
By Nicholas Lam
/ EdgeProp Singapore |
Among the condos and apartments that hit a new peak in terms of psf-price transacted between April 19 and April 26, Newton Suites ranked the highest. (Source: URA, EdgeProp Singapore)
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Among the condos and apartments that hit a new peak in terms of psf-price transacted between April 19 and April 26, Newton Suites ranked the highest. This was achieved with the sale of a 1,238 sq ft three-bedroom unit on the 28th floor for $3.05 million on April 22. The price translates to $2,464 psf.
This is 7.8% higher than the apartment’s former record of $2,286 psf that was set in July 2022 when the unit on the 17th floor in the same stack was sold for $2.83 million.
Newton Suites achieved a psf-high of $2,464 with the sale of a 1,238 sq ft, three-bedroom unit for $3.05 million on April 22. (Photo: Samuel Isaac Chua / EdgeProp Singapore)
The unit sold on April 22 was previously acquired in December 2016 for $2.35 million or $1,898 psf. This means the seller made a profit of $700,000.
This is the first sales transaction lodged at Newton Suites so far this year. No transactions were recorded for the entirety of 2023 and just two transactions occurred in 2022, recording an average price of $2,238 psf.
Price trends of units at Newton Suites. (Source: URA, EdgeProp Singapore)
Newton Suites is a 118-unit freehold development located at the corner of Newton Road and Khiang Guan Avenue in District 11. Completed in 2007, it consists of a single residential tower comprising two-bedroom units of 797 sq ft and three-bedroom units spanning between 1,238 sq ft and 1,593 sq ft. There are also three-bedroom penthouses between 4,865 sq ft and 4,876 sq ft.
Elsewhere, Oxley Edge also hit a new high in terms of psf-price during the period of review with the sale of a 377 sq ft one-bedroom unit for about $890,000 on April 25. This works out to $2,362 psf.
The new record beats the previous peak of $2,336 psf set over five years ago in March 2019. It was achieved through the sale of a similar 377 sq ft one-bedroom unit for about $$880,000. The unit sold on April 25 was purchased from the developer in September 2013 for about $852,000 or $2,263 psf. Thus, the seller made a profit of about $38,000.
This is the third resale transaction logged at Oxley Edge so far this year. Based on URA caveats lodged, six units at the apartment were sold in the last 12 months at an average price of $2,102 psf.
Oxley Edge also hit a new high in terms of psf-price during the period of review with the sale of a 377 sq ft, one-bedroom unit for $890,000 on April 25. (Photo: Google Maps)
Oxley Edge is a 45-unit freehold development located along River Valley Road in District 9 which was completed in 2016. It consists of a unit mix of one-bedroom apartments from 377 sq ft to 431 sq ft, two-bedroom apartments from 398 to 1,184 sq ft, and three-bedroom apartments from 980 sq ft to 1,464 sq ft.
At the other end of the table, The Residences at W Singapore Sentosa Cove hit a new psf-price low for the second week running. This comes with the resale of a 1,625 sq ft three-bedroom unit on the third floor for about $2.67 million, or $1,645 psf, on April 25.
The new low comes amid a series of sales at the luxury condo in the past month. On April 15, Cityview Place Holdings, an associate of Singapore-listed property group City Developments, released several units it still owns at the condo for sale by placement.
Caveats for 12 units at The Residences at W were lodged between April 15 and April 26. The units were sold at an average price of $1,783 psf.
The sales have coincided with back-to-back new lows. Before the April 25 transaction, the psf-price low at the condo was held by a 1,658 sq ft three-bedroom apartment on the second floor that was sold for $2.8 million, or $1,649 psf, on April 26. Before that, the sale of another 1,658 sq ft unit fetched about $2.84 million ($1,716 psf) on April 18.
Caveats for 12 units at The Residences at W were lodged between April 15 and April 26 with an average price of $1,783 psf. (Photo: Samuel Isaac Chua / EdgeProp Singapore)
The Residences at W Singapore Sentosa Cove is a 99-year leasehold, 228-unit luxury condo along Ocean Way on Sentosa Island that was completed in 2011.
The unit mix at the condo consists of two- and three-bedroom units between 1,227 sq ft and 2,616 sq ft, four-bedroom units between 2,067 sq ft and 2,486 sq ft, and penthouse units spanning between 2,217 sq ft and 6,297 sq ft.
Read also: Parc Esta achieves new high of $2,409 psf
Check out the latest listings for Newton Suites, The Residences At W Singapore Sentosa Cove, Oxley Edge properties
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