The Sea View sets new psf-price record of $2,710
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The Sea View topped the list of private non-landed properties to reach a new psf-price peak in the week from Feb 28 to March 7. The freehold condo hit its new price high of $2,710 psf on March 4 when a 1,410 sq ft, three-bedroom apartment on the 20th floor changed hands for $3.82 million.
The new record surpasses the previous high of $2,624 psf, which was set in September last year when a 1,647 sq ft, four-bedroom unit on the 20th floor was resold for about $4.32 million.
The new high of $2,710 psf at The Sea View follows the resale of a 1,410 sq ft unit for $3.82 million on March 4 (Photo: Samuel Isaac Chua/EdgeProp Singapore)
The unit sold on March 4 was purchased by the seller in February 2017 for around $2.22 million, or $1,574 psf. Thus, the seller made a profit of about $1.6 million after owning the apartment for over eight years.
The Sea View, which is located on Amber Road in District 15, was completed in 2008. The development comprises six 22-storey blocks, with a total of 546 units. The residences include one-bedroom units ranging from 527 sq ft to 560 sq ft, three-bedders from 1,216 sq ft to 1,410 sq ft, and four-bedroom units from 1,518 sq ft to 1,647 sq ft. Additionally, there are also four-bedroom penthouses of 2,196 sq ft to 2,723 sq ft and five-bedroom penthouses spanning 2,809 sq ft to 2,928 sq ft.
Freehold condo Tribeca also achieved a new psf-price high during the period under review. On March 7, a 517 sq ft, one-bedroom apartment was resold for about $1.37 million or $2,648 psf.
The seller, who bought the 26th-floor unit in November 2021 for $1.25 million ($2,419 psf), netted a gain of about $118,000.
The sale marks the second time a unit sold at the development has crossed $2,600 psf. It beats the previous high of $2,613 psf set in April 2024, when a similar 517 sq ft, one-bedroom unit changed hands at $1.35 million.
The new psf-price high at Tribeca follows the sale of a 517 sq ft, one-bedroom unit for $1.37 million on March 7 (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Tribeca was completed in 2010. Located along the Singapore River, the 30-storey residential development offers 175 units, ranging from studio to four-bedroom units of 517 sq ft to 1,905 sq ft. The condo also comprises penthouses spanning from 2,174 to 3,907 sq ft.
Tribeca is located in District 9, a four-minute walk from Great World MRT Station on the Thomson-East Coast Line. It is also close to River Valley Primary School.
Rounding out the top three, Madison Residences saw a new psf-price high with the resale of a 1,464 sq ft, three-bedroom unit on the fourth floor for $3.8 million, or $2,596 psf, on March 3.
This beats the previous price peak set in December 2022 when a similar 1,464 sq ft, three-bedroom apartment sold for about $3.4 million, or $2,321 psf. The March 3 sale also marks the first unit sold since the December 2022 transaction and the first time a unit at the freehold development crossed the $2,500 psf threshold.
Madison Residence reached a new psf-price peak of $2,596 when a 1,464 sq ft, three-bedroom unit sold for $3.8 million on March 3 (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Based on caveats lodged, the unit was purchased for $2.42 million or $1,650 psf in September 2009. Thus, the seller gained $1.38 million on the transaction.
Completed in 2012, Madison Residences is located along Bukit Timah Road in District 10. The freehold development comprises an 18-storey tower with 56 apartments. The units are a mix of three- and four-bedroom units, ranging from 1,464 sq ft to 3,218 sq ft. The condo also has two duplex penthouse units of 4,407 sq ft.
Madison Residences is a six-minute walk from Stevens MRT Station, which offers accessibility to the Downtown and Thomson-East Coast Lines. Other nearby amenities include lifestyle hubs such as Balmoral Plaza and Orchard Road.
There were no psf-price lows recorded during the period in review.
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