Unit at Hilltops sold for $2,419 psf

By Tan Chee Yuen / The Edge Property | September 30, 2016 10:00 AM SGT
A handful of luxury condominium units in prime Districts 9 and 10 changed hands recently, according to caveats lodged with URA Realis in the week of Sept 13 to 20.
In the prime Cairnhill Circle neighbourhood, a 1,550 sq ft, three-bedroom unit at Hilltops changed hands for $3.75 million ($2,419 psf), according to a caveat lodged on Sept 15. The unit was purchased for $5.54 million ($3,576 psf) in November 2007, at the peak of the last property boom.
This was the lowest psf price achieved at the project since May, when a 1,335 sq ft, two-bedroom unit sold for $3.2 million ($2,397 psf). The seller purchased the unit for $3.34 million ($2,500 psf) in July 2009.
At the trough of the market in 2009, following the global financial crisis, two units at Hilltops were sold at even lower prices. An 807 sq ft one-bedder fetched $1.775 million ($2,199 psf), while a 1,335 sq ft two-bedder went for $3.14 million ($2,350 psf).
Developed by SC Global Developments, the 291- unit Hilltops was completed in 2011. At the peak of the market, units crossed $4,000 psf, with the highest sold being a 2,465, sq ft four-bedroom unit that went for $11.86 million, or $4,812 psf.
In the prime Cairnhill Circle neighbourhood, a 1,550 sq ft, three-bedroom unit at Hilltops changed hands for $3.75 million ($2,419 psf), according to a caveat lodged on Sept 15
At Urban Suites, located on Cairnhill Road and Hullet Road, a 1,572 sq ft, three-bedroom unit changed hands for $4.17 million ($2,652 psf), according to a caveat lodged on Sept 15. The unit was purchased for $3.86 million ($2,458 psf) in January 2010.
This year, three other units at Urban Suites were sold at prices ranging from $2,567 to $2,669 psf, according to caveats lodged with URA Realis from February to June. The units sold ranged from three-bedroom units of 1,604 sq ft to a four-bedroom unit of 2,045 sq ft. The highest psf price achieved at Urban Suites was for the sale of a 1,044 sq ft, two-bedroom unit, which fetched $3.10 million ($2,969 psf) in...