The sale of a one-bedroom SOHO unit at The Scotts Tower has set a new psf-price low for the week of Sept 30 to Oct 7.

This was achieved after the 657 sq ft unit on the 10th floor of the prime District 9 condo transacted for $1.2 million ($1,828 psf) on Oct 2.

This is the first time in nearly five years that a unit at The Scotts Tower has changed hands for less than $1,800 psf.

The transaction that set the previous psf-price low at the development involved a 646 sq ft, one-bedder on the ninth floor that changed hands for $1.2 million ($1,858 psf) when it was sold in November 2020.

There have been four resale transactions at The Scotts Tower so far this year, including the most recent sale on Oct 2.

An 850 sq ft two-bedroom unit on the 10th floor was sold for $1.82 million ($2,140 psf) on Jan 13, followed by an 872 sq ft two-bedroom unit on the 20th floor that transacted for $1.9 million ($2,179 psf) on May 5. Another 872 sq ft two-bedder also changed hands for $1.83 million ($2,099 psf) when it was sold on Sept 18.

The 657 sq ft one-bedder at The Scotts Tower was sold for $1.2 million ($1,828 psf) on Oct 2. (Picture: Samuel Isaac Chua/EdgeProp Singapore)

Based on a compilation of resale caveats by EdgeProp Singapore, prices at The Scotts Tower have been on a downward trajectory for more than a decade. The 103-year leasehold project was launched for sale in December 2011 at an average price of $3,600 psf, but prices dipped to about $2,300 psf by December 2021. Today, the average price at the condo is about $2,050 psf.

Completed in 2016, The Scotts Tower is a 231-unit, 31-storey condo that occupies a prominent corner of Scotts Road and Cairnhill Road. The condo is close to Newton and Orchard Road, and landmark buildings in the vicinity include The Tanglin Club, The American Club, Goodwood Park Hotel, and Sheraton Towers Singapore.

Designed by Dutch architect Ben van Berkel of UNStudio, The Scotts Tower was designed as a “vertical city”. It has 128 apartments, which are a mix of one- to three-bedroom apartments with sizes from 624 sq ft to 1,389 sq ft. It also has 20 three-bedroom penthouses and three four-bedroom penthouses with sizes from 2,174 sq ft to 3,315 sq ft.  

Meanwhile, the sale of a 4,176 sq ft four-bedroom unit at Nassim Lodge topped the list of condos that set record psf-price highs during the week. The second-floor unit transacted for $14.5 million ($3,472 psf) when it was sold on Oct 2.

The 4,176 sq ft unit at Nassim Lodge fetched $14.5 million ($3,472 psf) when it was sold on Oct 2. (Picture: Samuel Isaac Chua/EdgeProp Singapore)

Based on URA caveats, there have only been three recorded transactions at Nassim Lodge to date. The previous recorded sale was a 4,478 sq ft unit on the first floor, which changed hands for $10 million ($2,233 psf) in July 2022.

Nassim Lodge is a freehold development at 7 Nassim Road in prime District 10. Completed in 1984, the development comprises six 4-bedroom apartments and two four-bedroom penthouses.

There are a few freehold developments in the area that were developed in the 1980s and are still standing. The closest is St Martin’s, an apartment block at 1 St Martin’s Drive off Tanglin Road. According to caveats, the average price at St Martin’s is about $2,474 psf.

More recent luxury developments along Nassim Road include the 100-unit freehold Nassim Park Residences (completed in 2011), the 101-unit, 99-year leasehold 19 Nassim (completed in 2023) and the 14-unit freehold Les Maisons Nassim (completed in 2023).

Coming in second-highest was the uncompleted Ardor Residence, which hit a new psf-price high after a 1,292 sq ft unit was sold for $3.33 million ($2,578 psf) on Sept 30.

A freehold boutique development by Chinese developer Nanshan Group, Ardor Residence is located on Haig Road in District 15. The 35-unit project launched for sale in March 2024 and only managed to move one unit — a 980 sq ft three-bedder for $2.41 million ($2,465 psf). According to caveats, only four more units were sold throughout the rest of 2024.

Ardor Residence is an uncompleted boutique project; it set a new psf-price high of $2,578 psf on Sept 30. (Picture: Nanshan Group)

However, sales significantly picked up at the start of this year, with the development selling about 21 units (60%) at an average price of $2,454 psf. In terms of absolute price, the most expensive unit sold at Ardor Residence is a 1,518 sq ft unit on the third floor, which fetched $3.8 million ($2,510 psf) when it was sold on April 26.

There are four more new projects in the Tanjong Katong area. The Continuum on Thiam Siew Avenue is the only freehold project. The 99-year leasehold projects are Emerald of Katong and Tembusu Grand along Jalan Tembusu, and Grand Dunman on Dunman Road.

Tembusu Grand was the first to launch in April 2023, and the 638-unit development is nearly sold out after selling 624 units (97%) while commanding an average price of $2,392 psf.

The 816-unit The Continuum and the 1,008-unit Grand Dunman followed soon after that year, launching in May and July 2023, respectively. The Continuum has sold 611 units (74%) at $2,881 psf, while Grand Dunman has moved 867 units (86%) at $2,524 psf.

The 846-unit Emerald of Katong entered the market in November 2024 and achieved stellar sales, moving more than 835 units (98.7%) over its two-day weekend sales launch. The project set an average price of $2,621 psf. According to caveats, fewer than four units remain unsold.

The sale of a two-bedroom unit at Stirling Residences set a new psf price high at the 99-year leasehold condominium when the 678 sq ft unit on the 25th floor was sold for $1.83 million ($2,697 psf) on Sept 18. This transaction also tops the list of condos that set a new psf-price high from Sept 12 to 23, which also saw no new psf-price lows.

The previous record psf-price high at Stirling Residences also involved a 678 sq ft two-bedroom unit, but on the 39th floor. That unit sold for $1.82 million ($2,681 psf) on July 28. In terms of absolute price, the most expensive unit sold to date at Stirling Residences is a 1,346 sq ft four-bedroom unit on the 22nd floor, which transacted for $3.55 million ($2,638 psf) last December.

A two-bedroom unit at Stirling Residences fetched $1.83 million ($2,697 psf) when it was sold on Sept 18. (Picture: Samuel Isaac Chua/The Edge Singapore)

Stirling Residences is a 1,259-unit development on Stirling Road in District 3. Completed in 2022, the project was jointly developed by Chinese developer Nanshan Group and Hong Kong-listed property developer Logan Holdings. The project previewed over the June 30-July 1 weekend back in 2018. However, the preview period was cut short after a late-night surprise announcement by the government of new property cooling measures on July 5, which would take effect the following day.

Throughout the night of July 5, Stirling Residences sold close to 200 units at an average selling price of $1,800 psf. Another project that rushed to launch that night was the 805-unit Park Colonial in District 13, which moved more than 300 units overnight at an average price of $1,700 psf.

Despite the unexpected new property cooling measures, Striling Residences saw steady sales progress over the next few months. The project was eventually fully sold in June 2022. A compilation of caveats by EdgeProp Singapore indicates that the average price at Striling Residences today is approximately $2,380 psf.

Meanwhile, the sale of a two-bedroom unit at Angullia Park Residences @ Orchard set a new psf-price high at the freehold condo when the 936 sq ft unit on the fourth floor was sold for $2.5 million ($2,670 psf) on Sept 12. The previous psf-price high at the luxury condo involved a 1,001 sq ft three-bedroom unit on the 13th floor, which changed hands for $2.65 million ($2,647 psf) in March 2022.

The sale of a two-bedder at Angullia Park Residences @ Orchard set a record psf-price high of $2,670 psf at the freehold condo. (Picture: Samuel Isaac Chua/The Edge Singapore)

There have been three resale transactions at Angullia Park Residences @ Orchard so far this year. The other two transactions were a 936 sq ft two-bedder on the third floor that fetched $2.45 million ($2,616 psf) when it was sold on Aug 29, and another 936 sq ft two-bedroom unit on the seventh floor which changed hands for $2.15 million ($2,296 psf) on Aug 5.

Angullia Park Residences @ Orchard is a 46-unit luxury condo on Cuscaden Walk in prime District 10. Completed in 2010, it comprises of a 19-storey tower with a mix of two- and three-bedroom units of 936 sq ft to 1,603 sq ft, as well as three penthouses of 1,905 sq ft to 1,948 sq ft.

Based on a compilation of resale caveats by EdgeProp Singapore, prices at Angullia Park Residences @ Orchard have increased from about $2,060 psf in September 2017 to $2,350 psf in September 2020. Today, the average price is about $2,530 psf.

The second runner up on the list of projects that set a new psf-price high this week was Parc Esta, where a 1,227 sq ft four-bedroom unit on the 11th floor transacted for $3.16 million ($2,575 psf) on Sept 12, setting a new psf-price high at the 99-year leasehold condo. Previously, the record was held by the sale of a 1,119 sq ft three-bedroom unit on the 13th floor which was sold for $2.85 million ($2,547 psf) last December.

The sale of a 1,227 sq ft four-bedroom unit at Parc Esta broke the price and psf-price records. (Picture: Samuel Isaac Chua/The Edge Singapore)

In terms of absolute price, the unit sold on Sept 12 was also the most expensive resale unit at Parc Esta to date. The title was previously held by a 1,399 sq ft five-bedroom unit on the 13th floor that changed hands in a sub-sale for $3 million ($2,144 psf) when it was sold in December 2022.

Parc Esta is a 1,399-unit condo on Sims Avenue in District 14. Completed in 2022, the development is close to Eunos MRT Station on the East-West Line. The condo comprises nine 18-storey residential towers with a mix of one- to five-bedroom units spanning 420 sq ft to 1,475 sq ft.

The project was launched in November 2018 and sold 235 units (16%) during its first month of sales, and the project was entire sold out by April 2022. Based on caveats, the average price at the condo is about $2,270 psf.

Orchard Sophia, a freehold development in prime District 9, was the only condo to set a new psf-price low during the week of Aug 29 to Sept 5. This came with the sale of a 657 sq ft, two-bedroom unit on the second floor, which fetched around $1.73 million ($2,629 psf) on Sept 2. 

The transaction marks the second week in a row that the development hit a new psf-price low. The week before, developers sold a 646 sq ft, two-bedroom unit for about $1.72 million, or $2,671 psf, on Aug 26. 

Orchard Sophia is a 78-unit condo located along Sophia Road. The development, which is slated for completion in 2027, features 2 five-storey residential blocks housing a mix of one- to two-bedroom units measuring 441 sq ft to 710 sq ft. It also offers 3 three-bedders of 764 sq ft and 5 three-bedroom dual-key units of 829 sq ft to 840 sq ft. 

A two-bedroom unit at Orchard Sophia fetched $1.73 million ($2,629 psf) on Sept 2 (Photo: Albert Chua/The Edge Singapore)

Orchard Sophia was launched for sale in August 2023. That year, developers sold 31 units at an average price of $2,819 psf. The following year, 13 units were sold at an average price of $2,880 psf. Transacted prices at the condo have moderated this year, declining to an average of $2,782 psf based on the 20 sales recorded so far. 

To date, a total of 64 units (82%) have been sold at Orchard Sophia. Prices transacted at the development range between $2,629 psf and $3,027 psf. 

On the other end of the spectrum, Amo Residence topped the list of transactions that set new psf-price highs for condos during the period in review. This was achieved with the sub-sale of a 1,141 sq ft, three-bedroom unit at the development for $2.87 million on Sept 1, setting a psf-price high of $2,515. 

The seller had previously purchased the unit in July 2022 for around $2.43 million ($2,131 psf), translating to a gain of $439,000. 

The latest transaction marks the third sub-sale recorded at the development and surpasses the previous price high of $2,472 psf. That came with the sub-sale of a 958 sq ft, three-bedroom unit, which was sold for $2.37 million on Aug 19. 

A three-bedroom unit at Amo Residence was sold for $2.87 million ($2,515 psf) on Sept 1 (Photo: Samuel Isaac Chua/The Edge Singapore)

In terms of absolute price, the most expensive unit at the condo thus far is a 2,457 sq ft, five-bedroom penthouse unit that fetched around $6.01 million during the VIP preview of the development in July 2022. 

Slated for completion in 2026, Amo Residence is a 372-unit condo on Ang Mo Kio Rise in District 20.  The 99-year leasehold development features 372-units across two residential towers comprising one- to five-bedroom units of 614 sq ft to 1,475 sq ft. It also has 2 four-bedroom penthouse units measuring 2,293 sq ft, and a five-bedroom penthouse unit of 2,497 sq ft. 

Located just off Ang Mo Kio Avenue 1, the development is within a five-minute walk of Mayflower MRT Station and is near Bishan-Ang Mo Kio Park and Lower Peirce Reservoir Park. Two popular schools, CHIJ St Nicholas’ Girls School and Ai Tong School, are within a 1km radius of the development. 

Hillhaven also achieved a new psf-price peak during the week. This came from the sale of a 700 sq ft, two-bedroom unit for around $1.74 million ($2,482 psf) on Aug 29. 

The psf-price is marginally higher than the condo’s previous record of $2,471 psf that was set on June 30 when developers sold a similar 700 sq ft unit for around $1.73 million. 

A two-bedder at Hillhaven was sold for $1.74 million ($2,482 psf) on Aug 29 (Photo: Far East Organization, Sekisui House)

Launched in January 2024, Hillhaven is a 341-unit, 99-year leasehold condo located along Hillview Rise in District 23. The development, which is set for completion in 2027, comprises two residential towers standing at 27 and 28 storeys tall. It offers a mix of two- to four-bedroom units measuring 678 sq ft to 1,636 sq ft. 

To date, the development has seen 59 transactions this year at an average price of around $2,167 psf, based on caveats lodged. 

One Meyer topped the list of private non-landed properties that reached a new psf-price peak during the week of Aug 15 to 22. This comes with the sale of a 614 sq ft, two-bedroom unit on the 17th floor for $1.93 million, or $3,146 psf, on Aug 22. 

The transaction marks the first time the development has crossed the $3,000 psf threshold. It surpasses the previous high of $2,934 psf set on March 5 from the sub-sale of a similar two-bedroom unit for around $1.8 million. 

In terms of absolute price, the most expensive unit to transact at One Meyer was a 1,033 sq ft, three-bedroom unit which sold for $2.82 million ($2,729 psf) in October 2023. 

The new high at One Meyer was achieved when a 614 sq ft unit fetched $1.93 million on Aug 22 (Photo: Google Maps) 

One Meyer is a freehold condo at the junction of Meyer Road and Meyer Place in District 15, located near Katong Park MRT Station on the Thomson-East Coast Line. The boutique development houses 66 residential units, offering a mix of two- and three-bedroom units spanning 614 sq ft to 1,033 sq ft. 

Completed in 2023, the development has recorded three resale transactions to date, including the unit sold on Aug 22. Earlier deals include a 1,033 sq ft unit that fetched about $2.74 million ($2,650 psf) on May 2, and a 614 sq ft unit that changed hands for $1.75 million ($2,852 psf) in October 2024.

Freehold development Cairnhill Residences also hit a new psf-price high during the period in review. This was achieved with the sale of a 1,173 sq ft, three-bedroom unit for $3.18 million ($2,710 psf) on Aug 22. 

The new psf-price high is 0.6% higher than the development’s previous record of $2,693 psf that was set last September when a similar 1,173 sq ft unit sold for $3.16 million. 

Cairnhill Residences saw a new psf-price high of $2,710 psf when a 1,173 sq ft unit sold for $3.18 million on Aug 22 (Photo: The Edge Singapore) 

Completed in 2009, Cairnhill Residences is located on Cairnhill Circle, near Orchard Road in prime District 9. The 97-unit development has two 20-storey towers housing a mix of two- to three-bedroom units of 904 sq ft to 1,173 sq ft. It also features four duplex penthouses measuring 2,131 sq ft to 2,497 sq ft, and three-bedroom units with private enclosed spaces on the first floor of between 1,421 sq ft and 1,432 sq ft.

As of Aug 22, Cairnhill Residences has seen one other transaction this year, based on caveats lodged. On Jan 20, the development saw a 1,163 sq ft, three-bedroom unit change hands for about $3.12 million ($2,682 psf). 

At the other end of the table, CanningHill Piers set a new psf-price low when developers sold a 1,959 sq ft, four-bedroom unit on the fourth floor for $4.88 million on Aug 17. The price translates to a record low of $2,491 psf. 

The latest transaction falls below the condo’s previous record low of $2,541 psf when the developer sold a 1,259 sq ft, three-bedroom unit for $3.2 million in November 2021 at the project’s launch.

CanningHill Piers saw a new low of $2,491 psf with the sale of a 1,959 sq ft unit for $4.88 million on Aug 17 (Photo: Samuel Isaac Chua/The Edge Singapore)

CanningHill Piers is a 99-year leasehold development at Clarke Quay in District 6. The 696-unit condo, which fronts the Singapore River, comprises a 24-storey tower and a 48-storey residential tower linked by a sky bridge. 

The development offers one- to five-bedroom apartments measuring between 409 sq ft and 3,972 sq ft, and one penthouse unit of 8,956 sq ft. Caveats lodged as of Sept 2 show that 685 (98%) of units have been sold. The development is slated for completion in 2026. 

Caveats also show that the average transacted price for units at CanningHill Piers has eased since its launch. In 2021, the development recorded 569 transactions at an average price of about $2,990 psf. In comparison, the development has seen 19 transactions to date this year with an average price of $2,808 psf.