Unit at Wallich Residence sold for $3,832 psf

/ EdgeProp
April 3, 2018 7:30 AM SGT
Sales at Wallich Residence at Tanjong Pagar Centre have picked up pace in March. So far this month, four units were sold at the ultra-luxury condo perched on top of the 38-storey Guoco Tower at GuocoLand’s $3.2 billion Tanjong Pagar Centre integrated development, which is linked underground to the Tanjong Pagar MRT station.
It is not just the 614 sq ft, one-bedroom units that found buyers, but the larger units on the higher floors too. In fact, the highest psf price achieved so far this year — $3,832 psf — was for the 1,722 sq ft, three-bedroom unit on the 57th floor, which fetched $6.6 million. In the latest transaction, a one-bedroom unit on the 48th floor was sold for $2.26 million ($3,677 psf), according to a caveat lodged on March 16.
The 181-unit Wallich Residence sits atop the 38-storey Guoco Tower at Tanjong Pagar Centre (Picture: GuocoLand)
Soaring 290m at its apex, Wallich Residence is Singapore’s tallest tower. The 181 units, which are a mix of one to four-bedroom types as well as penthouses, span the 39th to 64th floors. Prices look like they are inching their way towards the $4,000 psf threshold. That was the price achieved for a 958 sq ft, two-bedroom unit on the 55th floor; it was sold for $3.83 million last November. It is the highest psf price achieved at Wallich Residence so far and has set a new price benchmark for the CBD area.
Nearby, a 958 sq ft, three-bedroom unit on the 70th floor of Skysuites @ Anson was sold for $2.23 million ($2,328 psf). The 360-unit, 99-year leasehold condominium was developed by Allgreen Properties and completed in 2014. At the newly completed Marina One Residences, which is part of an integrated development by M+S, a joint venture between Malaysia’s Khazanah Nasional and Singapore’s Temasek Holdings, a 1,518 sq ft, three -bedroom unit on the sixth floor fetched $3.55 million ($2,341 psf).
Marina One Residences (Picture: Samuel Issac Chua/The Edge Singapore)
Wallich Residence at Tanjong Pagar Centre is not the only luxury development where prices are reaching their all-time highs. At Ardmore Park condo, a 2,885 sq ft, four-bedroom unit on the 17th floor of one of the three 33-storey towers recently changed hands for $10.4 million ($3,605 psf). It last changed hands at the peak of the property boom in August 2007 for $8.2 million ($2,843 psf), according to a caveat lodged then.
The latest price of $3,605 psf achieved at Ardmore Park is close to the all-time high of $3,688 psf, when a four-bedroom unit on the 27th floor changed hands for $10.64 million in January 2010.