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Tribeca hits new high of $2,535 psf

/ EdgeProp Singapore |

August 11, 2023 1:09 PM SGT

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SINGAPORE (EDGEPROP) - Tribeca, a freehold development on Kim Seng Road in District 9, topped the list of condos that saw a new psf-price high from July 21 to 28. This follows the sale of a 517 sq ft, one-bedroom unit on the eighth floor for $1.31 million or $2,535 psf on July 21. The transaction beats the previous high of $2,525 psf set in June 2022, when a 1,033 sq ft unit changed hands for $2.61 million.

The seller of the unit had purchased it in May 2007 for $855,000 ($1,655 psf). This means they made a profit of $455,000 on the transaction.

The new psf-price high at Tribeca follows the sale of a 517 sq ft, one-bedroom unit for $1.31 million on July 21 (Picture: Samuel Isaac Chua/The Edge Singapore)

Tribeca is a development by City Developments that was completed in 2010. Located alongside the Singapore River, the 30-storey residential block has 175 residences comprising studio to four-bedroom apartments from 517 to 1,905 sq ft. There are also penthouses between 2,174 and 3,907 sq ft.

RV Residences also hit a new psf-price high during the period in review. On July 28, a 689 sq ft, two-bedroom unit on the third floor changed hands for $1.682 million, or $2,442 psf. The transaction beats the previous psf-price high set in May 2023, when a 689 sq ft unit fetched $1.67 million or $2,424 psf.

RV Residences hit a new psf-price high of $2,442 after a two-bedroom unit changed hands for $1.682 million on July 28 (Picture: Samuel Isaac Chua/The Edge Singapore)

RV Residences is a 999-year leasehold development located on River Valley Road in prime District 10. Completed in 2015 by Allgreen Properties, the condo comprises six blocks spanning seven storeys each, housing a total of 248 residences. Units include a mix of one- to four-bedders between 420 and 1,270 sq ft. There are also penthouses between 796 and 1,539 sq ft.

View at Kismis, an upcoming condo located along Lorong Kismis in Bukit Timah, also saw a new psf-price high. This follows the sub-sale of an 883 sq ft apartment on July 27. The fifth-floor unit fetched $1.886 million or $2,137 psf. It had been purchased by the seller from the developer in February 2020 for $1.506 million ($1,706 psf). This means the seller made a gain of roughly $380,000 on the transaction.

This marks the first time a unit sold at the development has crossed $2,100 psf. It beats the previous high of $2,008 psf set in June, when a 1,270 sq ft unit fetched $2.55 million.

View at Kismis is a 99-year leasehold condo by Roxy-Pacific Holdings with joint-venture partner Tong Eng Group. Located in District 21, the 186-unit development has units ranging from 517 sq ft for a two-bedroom unit, to 1,292 sq ft for a five-bedroom unit.

The development was launched for sale in July 2019. Based on caveats lodged to date, the project was fully taken up by October 2021, with units sold by the developer at an average price of $1,709 psf.

Read also: RV Residences hits new high of $2,480 psf