Resale three-bedder drives Stirling Residences to psf-price high of $2,800
The sale of a three-bedroom apartment at Stirling Residences topped psf prices for private non-landed residential developments during the week of June 9 to 16.
The 1,055 sq ft unit on the 35th floor fetched $2.95 million on June 11, setting a new psf-price benchmark of $2,800 for the 99-year leasehold development.
The new record at Stirling Residences came from the sale of a 1,055 sq ft apartment for $2.95 million (Photo: Samuel Isaac Chua/EdgeProp Singapore)
This comes just a month after the previous record of $2,767 psf. That was from the sale of a 980 sq ft three-bedder for $2.71 million on May 15.
In terms of absolute price, the most expensive apartment ever sold at the development was a 1,346 sq ft four-bedder that changed hands for $3.58 million ($2,661 psf) on May 8.
Located on Stirling Road in District 3, Stirling Residences comprises three towers housing 1,259 units, which come as one- to four-bedders measuring between 441 and 1,970 sq ft.
Based on a tabulation of caveats by EdgeProp Singapore, prices at Stirling Residences have trended upwards over the last few years.
In 2023, the development averaged $2,279 psf across 74 transactions. This has risen to $2,461 psf based on the 53 resale caveats lodged so far this year.
Second among the week’s top project highs was boutique development Amber Skye.
The sale of a 1,335 sq ft, three-bedder established a new record for the project when it fetched $3.48 million ($2,607 psf) on June 12.
The deal marks Amber Skye’s first transaction of the year and inches past its previous price peak of $2,600 psf. That high was set in November last year when a similarly sized three-bedroom apartment was sold for $3.47 million. Completed in 2017, Amber Skye is a 22-storey freehold apartment situated in District 15, along Amber Road. It comprises one- to six-bedders ranging from 527 to 5,177 sq ft.
The June 12 sale of a three-bedroom apartment was Amber Skye’s first transaction above $2,600 psf (Photo: EdgeProp Singapore)
Tanjong Katong MRT Station sits just across the development, while lifestyle amenities such as Katong Shopping Centre and The Odeon Katong are a five-minute drive away.
Amber Skye has an average resale price of $2,452 psf, based on transactions over the last 12 months.
This is higher than those of nearby developments such as Amber Point and Nyon, where average resale prices stand at $2,353 psf and $2,394 psf, respectively.
Meanwhile, the upcoming Sora in the Jurong Lake District ranked third in psf-price highs for the week.
Developers sold a 732 sq ft, two-bedroom apartment on the 16th floor for $1.89 million, or $2,581 psf, on June 14.
The previous psf-price record at the 99-year leasehold development was $2,566, jointly held by two 732 sq ft units.
They were sold for $1.88 million each, with the transactions taking place last November and on Feb 28 this year.
Sora, which is scheduled for completion in 2027, comprises four residential blocks. Most of its apartments are two- and three-bedders measuring between 646 to 1,410 sq ft.
Sora, a 99-year leasehold development located along Yuan Ching Road, is slated for completion in 2027 (Photo: Samuel Isaac Chua/EdgeProp Singapore)
It achieved a take-up rate of 23% over its launch weekend in July 2024, with apartments sold at $2,160 psf on average.
Caveats lodged show that the developers have since sold 225 units (51%) at an average price of $2,236 psf.
There were no new psf-price lows for the week.
For more news and analysis, read our weekly e-paper. Prefer a print copy? Get it delivered to your home every Monday.
Follow Us
Property updates, 24/7.
Subscribe to Newsletter
Market insights, delivered weekly.
Top Articles
Search