St Martin’s Apartment achieves new high of $2,328 psf

By Felicia Tan / EdgeProp Singapore | September 22, 2021 7:35 PM SGT
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SINGAPORE (EDGEPROP) - In this column, we look at condominium projects that have achieved new highs in terms of psf prices and those that have seen new lows. This is based on URA Realis data for the period of Sept 6 to 12.

Highest psf prices

The highest price transaction recorded on a psf basis was for a 926 sq ft unit at St Martin’s Apartment.
The two-bedroom apartment on the first floor changed hands for $2.16 million, or $2,328 psf, on Sept 8.
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St Martin's Apartment. (Photo: Samuel Isaac Chua/EdgeProp Singapore)
The freehold St Martin’s Apartment has a total of just 16 units over a single four-storey block. Units within the development comprise two-bedders measuring 926 sq ft to 1,120 sq ft. The residential component sits next to a 9,375 sq ft commercial space within the same address. The commercial space has a prominent frontage on Tanglin Road. (Find Singapore commercial properties with our commercial directory)
The project was completed in 1986 by developer Unicurrent. It is located on St Martin’s Drive in Tanglin on prime District 10, where it enjoys close proximity to the Singapore Botanic Gardens and the Orchard Road shopping belt.
St Martin’s Apartment is also located just a stone’s throw away from Tanglin Place Shopping Centre, Tudor Court Shopping Gallery, as well as embassies and luxury hotels such as The St Regis Singapore and Regent Singapore.
This particular unit has changed hands twice before. The first transaction was in 1996 at $970,000, or $1,048 psf, and the second deal took place in 2012, when the unit was sold for $1.7 million, or $1,836 psf.
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Another property that saw a new high in terms of price psf is the freehold Forett at Bukit Timah on Toh Tuck Road in District 21.
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Scale model of Forett at Bukit Timah. (Photo: Samuel Isaac Chua/EdgeProp Singapore)
On Sept 6, a 721 sq ft, two-bedroom unit changed hands for $1.61 million, which translates to $2,228 psf. The unit is located on the eighth floor of a nine-storey block. Forett at Bukit Timah has a total of 633 units comprising one- to five-bedders. The units are spread across nine 5-storey blocks and four 9-storey blocks.
Forett at Bukit Timah is developed jointly by Qingjian Realty and Perennial Holdings Private Limited. It sits on the site of the former Goodluck Garden, which was sold collectively to subsidiaries of Hong Kong-based CNQC International Holdings for $610 million in March 2018.
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The site has a land area of about 360,130 sq ft, and is near Beauty World MRT Station on the Downtown Line, Beauty World Plaza and Bukit Timah Plaza, as well as the future Beauty World Integrated Transport Hub. Forett at Bukit Timah is also located near schools such as Methodist Girls’ School (Primary) and Pei Hwa Presbyterian Primary School.

Lowest psf prices

As a sign that the property market is heating up, this is the first week that there are no new lows since we started tracking the data in July.

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