Unit at Skyline 360 @ St Thomas Walk sold at a high of $2,674 psf
By Timothy Tay
/ EdgeProp Singapore |
The 2,131 sq ft unit at Skyline 360 @ St Thomas Walk was sold for $5.7 million on March 6.
SINGAPORE (EDGEPROP) - A new psf-price high was set at Skyline 360 @ St Thomas Walk, a freehold condo off River Valley Road, with the sale of a 2,131 sq ft, four-bedroom unit on the 21st floor for $5.7 million, or $2,674 psf, on March 6. This transaction tops the list of record psf-price highs during the week of March 3 to 10. The week did not see any new record psf-price lows.
Skyline 360 @ St Thomas Walk is a luxury condo in prime District 9. The 61-unit development was completed in 2012. It features large-sized units such as three- and four-bedroom units that range from 1,733 to 2,131 sq ft. There are also six 5-bedroom units of 3,929 to 4,015 sq ft. Each occupies an entire floor from the 30th to 35th levels. Crowning the top is a 6,523 sq ft duplex penthouse.
The condo is in a prime residential area close to the Orchard Road shopping belt and River Valley area. Shopping centres close to the condo include Great World City, 111 Somerset and Ngee Ann City.
The 2,131 sq ft unit at Skyline 360 @ St Thomas Walk was sold for $5.7 million on March 6. (Picture: Samuel Isaac Chua/The Edge Singapore)
In addition, Skyline 360 @ St Thomas Walk is well served by major roads such as River Valley Road, Leonie Hill Road, Grange Road and Orchard Road. Nearby MRT stations include Great World on the Thomson-East Coast Line and Somerset on the North-South Line.
The latest transaction at Skyline 360 @ St Thomas Walk is the second resale so far this year. On Feb 17, a 3,929 sq ft unit on the 31st floor was sold for $10.2 million ($2,596 psf). This unit spans the entire 31st floor.
Last year, only one unit changed hands at the condo. This was a 1,733 sq ft unit on the 10th floor that fetched $3.95 million ($2,279 psf) on Jan 28, 2022.
The mix of large-sized units at Skyline 360 @ St Thomas Walk, coupled with its location in a prime central neighbourhood, means that the condo commands relatively high prices compared to neighbouring projects. According to URA caveats tabulated by EdgeProp Singapore, Skyline 360 @ St Thomas Walk commands an average price of about $2,635 psf.
Price comparision of Skyline 360 against neighbouring condos in the area. (Source: EdgeProp Singapore, URA)
Only a handful of neighbouring freehold condos are close to, or exceed, this price level. These condos include One Devonshire ($2,687 psf), Espada ($2,438 psf) and Suites at Central ($2,553 psf).
Meanwhile, the second highest record psf-price during the week was for the sale of a 689 sq ft, two-bedroom unit at Commonwealth Towers. The unit, on the 43rd floor, was sold for $1.57 million ($2,279 psf) on March 8. This is marginally higher than the previous record at the condo, which had only been set the month before, when another 689 sq ft unit on the 36th floor was sold for $1.49 million ($2,163 psf) on Feb 23.
Commonwealth Towers is an 845-unit development on Commonwealth Avenue in District 3. The 99-year leasehold project was completed in 2017. The unit mix features one- to four-bedroom units that range from 441 to 1,302 sq ft.
A two-bedroom unit at Commonwealth Towers fetched $1.57 million ($2,279 psf) on March 8. (Picture: Samuel Isaac Chua/The Edge Singapore)
Commonwealth Towers is beside Queenstown MRT Station on the East-West Line, and its central location in the neighbourhood puts it close to several community facilities, schools, as well as public and private residential developments.
Primary schools within 1km of Commonwealth Towers are New Town Primary School and Queenstown Primary School, while Alexandra Primary School and Gan Eng Seng Primary School are within 2km of the condo. Other schools in the vicinity include Queenstown Secondary School, Queensway Secondary School and Crescent Girls’ School.
Notable residential developments close to Commonwealth Towers include the neighbouring 736-unit Queens Peak which was completed in 2020, and the 1,259-unit Stirling Residences.
There have been 11 resale transactions recorded at Commonwealth Towers so far this year. Units sold have ranged from a 1,033 sq ft, three-bedroom unit that fetched $2.08 million ($2,013 psf) on Feb 20, to the sale of a 484 sq ft, one-bedroom unit that fetched $900,000 ($1,858 psf) on Feb 24.
The week also saw The Shelford, a freehold condo on Shelford Road, set a record psf-price high. A 1,399 sq ft unit was sold for $3.18 million ($2,273 psf) on March 3. This is marginally higher than the previous high set by a 1,033 sq ft unit that was sold for $2.29 million ($2,216 psf) in September 2021.
A 1,399 sq ft unit at The Shelford was sold for $3.18 million ($2,273 psf) on March 3. (Picture: Samuel Isaac Chua/The Edge Singapore)
The Shelford is a 215-unit condo in prime District 11, and was completed in 2005. The condo is also in a prime location along Dunearn Road. It is close to Hwa Chong Institution, Nanyang Primary School and St Margaret’s Secondary School. Nearby MRT stations include Tan Kah Kee on the Downtown Line, as well as Botanic Gardens Interchange Station on the Circle and Downtown Lines.
As a result, The Shelford has seen its prices increase significantly over the past few years. In March 2013, the average price at the condo was about $1,541 psf, but it has increased to $2,045 psf this month.
Check out the latest listings near Skyline 360 @ St Thomas Walk, Commonwealth Towers, The Shelford, One Devonshire, Espada, Suites at Central, Queens Peak, The Shelford, Stirling Residences, Great World MRT station, Somerset MRT station, Queenstown MRT Station, Tan Kah Kee MRT Station, Botanic Gardens Interchange Station, New Town Primary School, Queenstown Primary School, Alexandra Primary School, Gan Eng Seng Primary School, Hwa Chong Institution, Nanyang Primary School, St Margaret’s Secondary School
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