Singapore PR pays record $6,501 psf for first Aman-branded residence in Singapore
The sale of the first Aman-branded residence at The Skywaters has set a record price of $6,501 psf at the luxury development, topping the list of private residential developments that saw new psf-price highs during the two-week period of Oct 7 to 21.
The 1,798 sq ft unit on the 30th floor fetched $11.69 million ($6,501 psf) when it was sold on Oct 8. URA Realis data indicates that the buyer is a Singapore Permanent Resident. The latest transaction also sets a new benchmark for a 99-year leasehold residential development in Singapore.
Developed by a Perennial Holdings-led consortium, The Skywaters is a 63-storey landmark integrated development on Prince Edward Road in District 2. Earlier this month, the developers announced the debut of Aman Singapore, the ultra-luxury hospitality brand’s first presence in Singapore.
The luxury hotel will occupy the 24th to 26th floors, while the Aman-branded residences are on the 28th to 30th floors. The Aman-branded apartments comprise a mix of one- to five-bedroom units. The upper floors comprise the 146-unit Skywaters Residences.
The latest transaction at The Skywaters surpasses the previous price high of $6,100 psf at the development, set last May when a 7,761 sq ft penthouse on the 57th floor was sold for $47.34 million.
The Aman-branded residences are part of The Skywaters integrated development in District 1. (Picture: SOM/BEZIER)
There have been three residential transactions at The Skywaters lodged in the caveats to date. The other deal involved a 5,285 sq ft five-bedroom unit on the 55th floor that fetched $30.87 million ($5,841 psf) when sold on June 19.
Meanwhile, the sale of a four-bedroom unit at The Sea View came in second on the list of condos that saw new psf-price highs. The 1,647 sq ft unit on the 10th floor was sold for $4.7 million on Oct 10. Previously, the record had gone to a 1,410 sq ft three-bedder on the 20th floor that changed hands for $3.99 million ($2,830 psf) on Aug 15.
Only three resale units at The Sea View have crossed the $2,800 psf threshold. The third unit is a 1,216 sq ft three-bedroom unit on the 19th floor that transacted for $3.42 million ($2,815 psf) on Sept 8.
Based on caveats compiled by EdgeProp Singapore, prices at the development have been on an upward trajectory over the past few years. The average price was about $1,882 psf back in October 2020, rising roughly $2,400 psf three years later. The average price at the freehold development is about $2,700 psf to date.
The record psf-price high at The Sea View is $2,854 psf. (Picture: Samuel Isaac Chua/EdgeProp Singapore)
The Sea View is a 546-unit development on Amber Road in District 15. Completed in 2008, the project comprises six 22-storey blocks with a mix of one- to four-bedroom units of 527 sq ft to 1,647 sq ft, as well as four- and five-bedroom penthouses ranging from 2,196 sq ft to 2,928 sq ft.
The project is close to the desirable Amber Road enclave, with nearby condos including Amber Park, Amber Residences, The Esta, Amber 45, and the upcoming Amber House. This neighbourhood is served by two MRT stations on the Thomson-East Coast Line — Tanjong Katong and Marine Parade. Nearby shopping malls include Katong Shopping Centre, Roxy Square, and i12 Katong.
Highline Residences also notched a new price high when a 1,109 sq ft three-bedroom unit on the 32nd floor transacted for $3.02 million ($2,723 psf) on Oct 17. This trumps the previous record of $2,622 psf set by a 667 sq ft two-bedder on the 29th floor, which changed hands for $1.75 million last April.
Recent transactions at the 500-unit development include a 1,130 sq ft three-bedder on the third floor that fetched $2.4 million ($2,123 psf) when it was sold on Aug 28, and a 1,109 sq ft three-bedroom unit on the 11th floor that changed hands for $2.86 million ($2,580 psf) when it was sold on Aug 13.
Highline Residences is a 99-year leasehold development on Kim Tian Road in Tiong Bahru. (Picture: Samuel Isaac Chua/The Edge Singapore)
In terms of absolute price, the most expensive unit at Highline Residences was a 2,260 sq ft, four-bedroom unit on the 35th floor, sold by the developer for $4.85 million ($2,145 psf) back in September 2014.
Highline Residences is a 99-year leasehold condo on Kim Tian Road in District 3. Completed in 2018, the 500-unit development features a mix of one- to four-bedroom units that range from 506 sq ft to 2,260 sq ft. A compilation of caveats indicates that the average price at Highline Residences is about $2,380 psf.
The project in the Tiong Bahru neighbourhood is within walking distance to Tiong Bahru MRT Station on the East-West Line, Tiong Bahru Plaza, Havelock Road Food Centre and Tiong Bahru Market. Three primary schools are also within 1km of the development, namely Alexandra Primary School, CHIJ (Kellock) and Zhangde Primary School.
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