What's moving the market: Singapore's biggest property deals and hottest searches (March 13)
The Continuum was the most transacted new launch condo in the last 14 days. (Photo: Samuel Isaac Chua / EdgeProp Singapore)
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Here is this week’s data-led look at Singapore’s property market, covering record transactions, rental benchmarks and the most searched homes on EdgeProp.
The following insights are compiled based on data from EdgeProp Buddy, URA Realis and data.gov.sg, downloaded as of March 10.
Non-landed private homes — new launches, resales and rents
For new-launch condos, topping the list by number of transactions in the last 14 days was The Continuum, a 816-unit freehold project at Thiam Siew Avenue, a quiet lane nestled between Haig Road and Tanjong Katong Road in District 15. The condo was launched in May 2023.
There were 6 deals at The Continuum within a fortnight, based on data downloaded as at March 10.
Pinetree Hill in District 21, Otto Place EC in District 24, and Newport Residences in prime District 2 each saw four transactions during the 14-day period in review.
For resale condos, the most transacted included Arc At Tampines EC in District 18, Rivercove Residences EC in District 19, Parc Botannia in District 28, and Kingsford Hillview Peak in District 23. Each of these developments recorded three deals during the fortnight, based on data downloaded as at March 10.
The highest-priced condo unit transacted was a second-storey unit at Bishopsgate Residences, fetching $8.8 million ($3,039 psf) on Feb 27. Bishopsgate Residences is a freehold, low-rise luxury development in prime District 10.
The next priciest condo deal was for a unit on the 25th floor of Boulevard 88, transacted at about $7.4 million ($4,181 psf). The freehold mixed-use development, comprising a luxury condo and an upscale hotel, is also located in District 10.
In the rental market, the most popular condo in the Rest of Central Region (RCR) or city fringe was Normanton Park with 121 rental deals. Next on the list are Sims Urban Oasis with 43 rental transactions and Piccadilly Grand with 43.
A unit at Pandan Valley, a freehold condo in District 21, commanded the highest monthly rent in the RCR, at $16,600, which works out to $3.65 psf. The second-highest rent was recorded at Amber Skye, a freehold condo in District 15, at $15,000 per month or $5.08 psf.
When it comes to the volume of searches on EdgeProp, the most searched new-launch condos for sale were River Modern, Newport Residences, and Lentor Hill Residences over the last seven days.
Meanwhile, the most searched resale condos for sale in the last month included Reflections At Keppel Bay, The Florence Residences, and Piccadilly Grand.
The most popular condos among prospective tenants, based on search volume, included The Rochester Residences in District 5, Parc Clematis in District 5, and The Poiz Residences in District 13.
Landed homes — highest transacted prices and rents
A house along Linden Drive in District 11 was purchased for $19.2 million or $2,319 psf in the past fortnight, making it the priciest landed property transaction for the period, based on data downloaded as of March 10.
Also on the list was a landed home on Dunsfold Drive in District 13, changing hands for $15.5 million or $1,380 psf.
In the rental market, the highest monthly rent for landed homes in the Outside Central Region (OCR) or suburbs was $17,000 ($4.53 psf) for a unit along Lynwood Grove in District 13.
Following closely was a unit on East Coast Avenue in District 15 that commanded $16,900 per month ($2.94 psf) in rent. Meanwhile, a house on Bodmin Drive in District 19 fetched $16,000 ($4.92 psf) in monthly rent.
HDB flats — top prices and rents, most transacted blocks
In Singapore’s public housing resale market, topping the list of the most expensive flats sold during the 14-day period was a unit at 1E Cantonment Road near Outram Park MRT station. It transacted for $1.515 million or $1,328 psf.
A HDB flat at 445A Clementi Avenue 3 changed hands for $1.498 million, while another at 138C Lorong 1A Toa Payoh was purchased for $1.48 million.
The HDB blocks with the most transactions in the past fortnight, based on data downloaded as at March 10, included 227A Ang Mo Kio Street 23, 228A Ang Mo Kio Street 23, and 13 Lorong 7 Toa Payoh. Each block posted three deals during the period in review.
In the leasing market, a four-room HDB flat on Cantonment Road was rented out for $5,500 per month. Another four-room flat in a neighbouring block along the same road commanded a monthly rent of $5,100.
Three units fetched $5,000 per month in rents each — a four-room flat on Buffalo Road, a five-room flat in Ghim Moh, and an executive unit along Jalan Batu near the Geylang River.
When it comes to search volume on EdgeProp, the most searched HDB blocks over the last month were on Keat Hong Link, Choa Chu Kang Avenue 2, Punggol Walk, and Ang Mo Kio Street 52.
Offices — priciest deals
In the Singapore commercial property scene, the 158 Cecil Street premium-grade office tower is going for $175 million. Based on the total net lettable area of 114,330 sq ft, the price works out to $1,531 psf. Altallo Asset Management has entered into a put-and-call option agreement to acquire the building at that price.
Nearby, a third-floor unit at 143 Cecil Street changed hands for $22.5 million or $1,787 psf. Two units on the fifth floor of 148 Cecil Street were also sold, with one fetching about $7.91 million and the other about $5.09 million.
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