Royal Hallmark achieves a new high of $2,304 psf
/ EdgeProp Singapore |
EDGEPROP (SINGAPORE) - Royal Hallmark, located on Haig Lane in District 15, topped the list of condos that achieved a new psf-price high between Dec 26, 2023, and Dec 29, 2023, with the sale of a three-bedroom unit. The developer sold the 797 sq ft unit on the fourth floor for $1.84 million, or $2,304 psf, on Dec 26, 2023.
This is the first time a unit at Royal Hallmark has transacted above the $2,300 psf threshold. The previous psf-price high at the development was set in June 2023 after a 797 sq ft apartment was sold for $1.82 million or $2,289 psf.
The new high at Royal Hallmark follows the sale of a 797 sq ft unit for $1.84 million on Dec 26, 2023 (Picture: Developer's website)
Royal Hallmark is a redevelopment of 10 terraced houses and a bungalow on a 25,054 sq ft freehold site at the corner of Haig Road and Haig Lane. The five-storey development has a total of 32 units, made up of three-bedders from 797 sq ft and four-bedders from 1,130 sq ft. There are also two 5-bedroom duplex penthouses, each measuring 2,077 sq ft.
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The development was launched for sale in February 2022 and is targeted to be completed by 2025. Based on caveats lodged, 31 (97%) units have been sold to date at an average price of $1,989 psf.
The Atria At Meyer also hit a new psf-price high during the period in review. This follows the sale of a 1,475 sq ft three-bedroom unit on the 11th floor for $3.18 million or $2,156 psf on Dec 26, 2023. The new high beats the previous record of $2,116 psf set in June 2023 after a 1,475 sq ft apartment was sold for $3.12 million.
The seller of the unit sold on Dec 26, 2023, had purchased it in April 2005 for $930,000 ($631 psf). This means they raked in a gross profit of $2.25 million or 242% upon selling the unit after holding it for nearly 19 years. The sale marks the most profitable resale transaction to have taken place at The Atria at Meyer, based on caveats lodged.
The Atria At Meyer hit a new high of $2,156 psf after a 1,475 sq ft unit was sold for $3.18 million on Dec 26, 2023 (Picture: Samuel Isaac Chua/The Edge Singapore)
The Atria At Meyer is a freehold condo along Meyer Road in District 15’s Marine Parade area. The single 24-storey tower was completed in 1996 and houses 158 apartments comprising a mix of two- to four-bedroom units from 1,044 sq ft to 2,949 sq ft.
However, The Centrepoint hit a fresh psf-price low during the period in review following the sale of a 1,119 sq ft unit for $2.45 million ($2,189 psf) on Dec 26, 2023. The transaction marks the lowest psf-price recorded at the development since December 2017, when a 1,119 sq ft unit fetched $2.05 million ($1,831 psf). The seller purchased the two-bedroom unit on the seventh floor for $730,000 ($652 psf) in May 2002. Hence, they made a gross profit of $1.72 million (236%) on the transaction.
Based on caveats lodged, The Centrepoint has seen 17 units change hands since January 2018, excluding the latest unit sold on Dec 26, 2023. The units, measuring between 732 sq ft and 1,173 sq ft, were sold at prices between $2,557 psf and $2,869 psf.
Read also: Newton One hits new high of $2,375 psf
At The Centrepoint on Orchard Road, a 1,119 sq ft unit was sold for $2.45 million or $2,189 psf on Dec 26, 2023, marking a new psf-price The new high at Royal Hallmark follows the sale of a 797 sq ft unit for $1.84 million on Dec 26, 2023 low since December 2017 (Picture: Google Maps)
Located in prime District 9 along Orchard Road, The Centrepoint is a 66-unit, 99-year leasehold apartment connected to the shopping mall of the same name. The apartment, completed in 1983, offers one- to three-bedroom units ranging from 732 sq ft to 1,350 sq ft.
Besides being connected to The Centrepoint Mall, the development is adjacent to Cuppage Terrace on Cuppage Road, which features shophouses housing eateries and cafes. Somerset MRT Station is about a five-minute walk away.
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