Principal Garden reaches new high of $2,283 psf

/ EdgeProp Singapore |
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SINGAPORE (EDGEPROP) - Principal Garden, a 99-year leasehold condominium in District 3, topped the list of private non-landed developments that hit a new psf-price high over the period of Nov 25 to 29. This comes off the sale of a 1,572 sq ft, four-bedroom unit on Nov 28 for $3.59 million, or $2,283 psf. The unit, located on the 20th floor, had been purchased by the seller from the developer for $2.59 million ($1,645 psf) in April 2016, which means they netted a profit of $1 million on the sale.
Principal Garden is located on Prince Charles Crescent, off Alexandra Road. Completed in 2018, it was developed by a UOL Group-Kheng Leong Co joint venture. The 663-unit development consists of four 24-storey tower blocks housing one- to five-bedroom apartments ranging from 484 to 2,347 sq ft.
The new high at Principal Garden follows the sale of a 1,572 sq ft, four-bedroom unit on Nov 28 for $3.59 million (Picture: Samuel Isaac Chua/The Edge Singapore)
The transaction on Nov 28 beats the development’s previous high of $2,262 psf set on Sept 2, when a 1,238 sq ft unit changed hands for $2.8 million. Principal Garden has seen an uptick in the volume of resale transactions. Based on caveats lodged, 42 other apartments have changed hands to date this year. The units, measuring between 484 and 1,572 sq ft, were sold at prices from $850,000 to $3.44 million, or from $1,755 to $2,262 psf.
The development is a 10-minute walk to the Redhill MRT Station on the East-West Line, and a 10-minute drive to Orchard Road and the CBD.
Watermark Robertson Quay is another development that hit a new psf-price high, when a 1,055 sq ft unit on the eighth floor was sold for $2.32 million, or $2,200 psf, on Nov 29. The two-bedroom-plus-study unit was previously purchased in January 2010 for $1.59 million ($1,507 psf), which means the seller made a gain of around $731,000 on the transaction.
The transaction beats the previous psf-price high established on March 3, when a 1,324 sq ft unit on the ninth floor fetched $2.88 million or $2,175 psf. Prior to that, the previous psf-price high was logged in April 2018, when a 1,076 sq ft unit was sold for $2.33 million or $2,165 psf.
Watermark Robertson Quay - EDGEPROP SINGAPORE
Watermark Robertson Quay saw a new price high of $2,200 psf; a twobedroom-plus-study unit measuring 1,055 sq ft was sold for $2.32 million on Nov 29 (Picture: Samuel Isaac Chua/The Edge Singapore)
Located along Rodyk Street in District 9’s Robertson Quay area, Watermark Roberston Quay is a development by Hong Leong Holdings that was completed in 2008. The 10-storey freehold condominium has 206 apartments, comprising a mix of two-, three- and four-bedders measuring between 872 and 2,562 sq ft.
The development is a 10-minute walk to the Havelock MRT Station on the Thomson-East Coast Line. Besides being close to various eateries and amenities in the Robertson Quay neighbourhood, it is also a five-minute drive to the Great World City shopping centre.
Queens Peak also saw a new psf-price high during the period in review. A 431 sq ft unit was sold for about $938,000, or $2,179 psf, on Nov 25. Located on the 19th floor, the one-bedder was previously acquired from the developer in November 2015 for roughly $748,000 ($1,737 psf). The transaction comes about two months after the previous psf-price high of $2,172 was logged on Sept 27 with the sale of a 431 sq ft unit for about $935,000.
Queens Peak has also seen a high volume of resale transactions this year, with 43 other units changing hands. The units, measuring between 431 and 1,507 sq ft, fetched from $880,000 to $2.92 million, or from $1,806 to $2,179 psf.
A one-bedder at Queens Peak fetched about $938,000 on Nov 25, resulting in a new psf-price high of $2,179 for the development (Picture: MCC Land and Hao Yuan Investment)
Queens Peak is a 99-year leasehold condominium located along Dundee Road in District 3. It is linked directly via an overhead bridge to the Queenstown MRT Station on the East-West Line. Developed by MCC Land and Hao Yuan Investment, the 736-unit condominium was completed in 2020. It comprises twin 44-storey towers, with units made up one- to five-bedders measuring 431 to 2,002 sq ft. There are also five-bedroom penthouses measuring between 4,629 and 4,768 sq ft.
No new psf-price lows were recorded during the period in review.

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