Resale unit at luxury Ardmore Park sets new $4,881 psf price record

By
/ EdgeProp Singapore
|
July 22, 2022 4:03 PM SGT
A 2,885 sq ft, four-bedroom unit at the ultra-luxury condominium Ardmore Park for $14.08 million ($4,881 psf) on July 5.
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The sale of a 2,885 sq ft, four-bedroom unit at the ultra-luxury condominium Ardmore Park for $14.08 million ($4,881 psf) on July 5 is the highest psf price that has been achieved so far at the freehold development.
This psf price is higher than the previous record which had only been set two months ago, when another 2,885 sq ft, four-bedder changed hands for $12.23 million ($4,240 psf) on May 5. So far, these are the only two resale transactions at Ardmore Park where the psf price crossed the $4,000 threshold.
The 330-unit Ardmore Park is in the prestigious Ardmore Park area in prime District 10. Nearby luxury condos in the area include Sculptura Ardmore, Le Nouvel Ardmore, Ardmore II and Ardmore 3. Also in the same area are the Tanglin Club and Shangri-La Hotel Singapore.
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Ardmore Park was completed in 2001 and it consists of three 30-storey residential blocks. There are only four-bedroom units of 2,885 sq ft as well as six duplex penthouses of 8,740 sq ft each.
According to a compilation of resale transactions at Ardmore Park by EdgeProp Singapore, the condo has seen a gradual increase in its average selling price in the last three years. In June 2019, the average selling price was $3,058 psf and it climbed to $3,466 psf in June 2021. Based on recent caveats, the average selling price is about $$3,956 psf as at June.
Ardmore Park also continues to command the highest price in the Ardmore Park area. Neighbouring condos like Nouvel 18, The Arc At Draycott, Ardmore II and Ardmore 3 fetch lower average selling prices at $3,298 psf, $2,570 psf, $2,965 psf and $3,011 psf respectively.
The week also saw a new psf price high being set at The Hyde on Balmoral Road, also in prime District 10. The developer sold a 947 sq ft, two-bedroom plus study unit for $3.2 million ($3,378 psf) on July 10. This is marginally higher compared to the previous record involving a similar 947 sq ft unit that fetched $3.15 million ($3,325 psf) when it was sold by the developer on Oct 16, 2021.
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The Hyde is a freehold condominium that is being developed by local property developer Aurum Land, a subsidiary of Woh Hup Holdings. The condo is in the exclusive Balmoral Road neighbourhood and surrounding areas include Goodwood Hill, Stevens Road, and Ardmore Park.
The Hyde is a 117-unit development with a 12-storey residential block. The unit mix features one- to four-bedroom units from 495 sq ft to 1,798 sq ft.
Since its sales launch in July 2019, The Hyde has recorded sales at a relatively steady pace over the past three years. According to data submitted to the URA, the development is about 58% sold as at June. The most expensive unit sold by the developer so far is a 1,572 sq ft four-bedroom unit that transacted for $4.98 million ($3,168 psf) on Aug 31, 2021.
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At the other extreme, a new psf price low was set at Phoenix Residences, an upcoming 99-year leasehold condo along Phoenix Avenue in District 23. A 1,367 sq ft, three-plus-one-bedroom unit was sold for $1.98 million ($1,451 psf) on July 2. Previously, the record low had been set by the sale of a 1,023 sq ft three-bedroom unit that the developer sold for $1.49 million ($1,454 psf) on Nov 12, 2021.
Phoenix Residences is developed by OKP Holdings, a local transport infrastructure and civil engineering firm. The entire 74-unit project consists of three five-storey blocks. The condo was launched for sale in December 2020 and 53 units — or about 70% of the total units — have been sold so far.

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