Resale at The Edge on Cairnhill sets psf-price high of $2,348
By Timothy Tay
/ EdgeProp Singapore |
A 2,142 sq ft unit on the 10th floor of The Edge at Cairnhill changed hands for $5.03 million, or $2,348 psf, on Feb 21.
SINGAPORE (EDGEPROP) - The recent sale of a four-bedroom unit at The Edge on Cairnhill topped record psf-price highs for condos during the week of Feb 18 to 24. A 2,142 sq ft unit on the 10th floor changed hands for $5.03 million, or $2,348 psf, on Feb 21. This is marginally higher than the previous record high which saw the sale of a 2,131 sq ft unit, also on the 10th floor, for $5 million or $2,346 psf on Sept 30, 2022.
The Edge on Cairnhill is a freehold condo on Cairnhill Road in prime District 9. The boutique 46-unit property was completed in 2002. The condo is in the highly desirable Cairnhill Road residential enclave between the Orchard Road and Newton areas.
Several other upmarket developments are nearby, including The Peak @ Cairnhill I & II, Hilltops, The Scotts Tower and the upcoming Klimt Cairnhill. Other landmark developments in the vicinity include Goodwood Park Hotel, Grand Hyatt Singapore, Scotts Square, The Paragon shopping mall, as well as Mount Elizabeth Hospital and Medical Centre.
The Feb 21 transaction marks the first resale at The Edge on Cairnhill so far this year. The condo recorded two resale transactions last year — apart from the Sept 30 sale whose psf price was surpassed, a 2,131 sq ft unit on the 17th floor fetched $4.89 million ($2,299 psf) on June 22.
The Edge on Cairnhill is a freehold condo on Cairnhill Road in District 9. (Picture: Samuel Isaac Chua/The Edge Singapore)
Based on URA caveats, The Edge on Cairnhill has seen a positive price trend over the past 10 years. In March 2013, the average price at the condo was about $1,827 psf, and this has increased to $2,025 psf as of February 2023.
The second highest record psf-price set during the week was at Newton 18, a freehold condo on Newton Road in prime District 11. A 1,249 sq ft, three-bedroom unit on the 26th floor was sold for $2.88 million ($2,307 psf) on Feb 23. This psf price is noticeably higher than the previous record which involved a 570 sq ft, one-bedroom unit on the 13th floor, which changed hands for $1.21 million ($2,121 psf) on Dec 23 last year.
Newton 18 is an 81-unit development that was completed in 2002. The project faces Newton Road and is about 300m from Newton MRT Interchange Station on the North-South and Downtown Lines. Several new projects are due to be completed in this locale, namely, the high-end Pullman Residences Newton on Dunearn Road; Kopar At Newton and The Atelier along Makeway Avenue; and boutique projects such as Enchante and 10 Evelyn on Evelyn Road, and 35 Gilstead on Gilstead Road.
The average price at Newton 18 is generally on a par with other completed freehold condos in the area. Based on URA caveats lodged over the past 12 months, Newton 18 has an average price of $2,051 psf. This is close to other completed freehold condos in the area such as Newton 21 ($2,177 psf), L’viv ($2,096 psf), 26 Newton ($2,121 psf), and The Linc ($2,030 psf).
A 1,249 sq ft, three-bedroom unit at Newton 18 was sold for $2.88 million, or $2,307 psf, on Feb 23. (Picture: The Edge Singapore)
On the other hand, Petit Jervois was the only project during the week to notch a new psf-price low. A 603 sq ft, one-bedroom unit on the ground floor was sold by the developer for $1.54 million ($2,561 psf) on Feb 22. Previously, the record low was posted by a 646 sq ft, one-bedroom unit on the fifth floor, which the developer sold for $1.69 million ($2,614 psf) back in October 2020.
Petit Jervois is a 55-unit luxury boutique project on Jervois Road in prime District 10. Developed by SC Global Developments, the freehold project comprises two 5-storey blocks with a mix of one- and two-bedroom units that range from 581 to 1,012 sq ft, and three-bedroom units of 1,044 to 1,292 sq ft.
The project is within the exclusive Jervois Road neighbourhood, which borders the Chatsworth Park Good Class Bungalow area. Notable upmarket condos in the area include Principal Garden and The Crest along Prince Charles Crescent, and Mon Jervois along Jervois Road.
Previews for Petit Jervios began in 2018, and although the development was completed in 2022, developer sales data shows that the project has sold about 26 units (47%) to date.
The most expensive unit at Petit Jervois that was sold by the developer is a 1,012 sq ft unit on the fifth floor, for $2.88 million ($2,852 psf), on March 31, 2022. This is followed by the sale of another 1,012 sq ft unit, on the fourth floor, for $2.87 million ($2,837 psf) on Dec 23, 2022.
Check out the latest listings near The Edge on Cairnhill, Newton 18, Petit Jervois, The Peak @ Cairnhill I, The Peak @ Cairnhill II, Hilltops, The Scotts Tower, Klimt Cairnhill, Pullman Residences Newton, Kopar At Newton, The Atelier, Newton 21, 26 Newton, Petit Jervois, The Crest, Mon Jervois, Newton MRT Interchange Station
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