The highest selling price per square foot (psf) for a private condo in the recent period of Feb 7 to 16 was achieved by the sale of a two-bedroom unit at Hill House. This 999-year leasehold development, located at the top of Institution Hill in District 9, reached a new peak of $3,398 psf when the 452 sq ft unit on the eighth floor was sold for $1.54 million by the developer on Feb 16. This sale marginally surpassed the previous record of $3,378 psf, set on Feb 11 when another similar unit on the eighth floor was sold for $1.53 million.
When contemplating investing in a condominium, it is essential to evaluate the potential rental return. Rental yield refers to the yearly rental profit as a percentage of the property’s buying cost. In Singapore, the rental yields for condos can vary significantly based on factors like location, property condition, and market demand. Typically, areas with a high demand for rentals, such as those near commercial or academic areas, offer more attractive rental yields. For a better understanding of the rental potential of a specific condo, conducting thorough market research and seeking advice from real estate agents can be beneficial. For more information on condominium projects in Singapore, visit Singapore Projects.
Hill House is a boutique condo with 72 units, comprising of 40 one-bedroom units, 24 two-bedroom units, and 8 three-bedroom units. The prime location and exclusive tenure of the development have contributed to its popularity. It is situated close to amenities such as River Valley Primary School and lifestyle hub New Bahru.
The second-highest selling price per square foot was achieved by The Tresor, a 62-unit development located on Duchess Road in District 10. The two-bedroom unit on the fifth floor, with a size of 1,421 sq ft, reached a new high of $2,625 psf when it was sold for $3.73 million on Feb 10. This surpassed the previous record of $2,501 psf set in March 2024.
The third-highest selling price per square foot was recorded at Jadescape, where a 1,647 sq ft, four-bedroom unit on the 22nd floor sold for $4.05 million on Feb 7. This set a new record of $2,459 psf at the District 20 development. Previously, the record price high at Jadescape was $2,446 psf when a 1,259 sq ft unit on the 10th floor was sold in January. In terms of absolute price, the most expensive resale unit at Jadescape is a 4,230 sq ft, six-bedroom penthouse that sold for $10.2 million in December 2024.
Jadescape, situated at the junction of Marymount Road and Shunfu Road, has 1,206 units across seven residential towers, with one- to five-bedroom apartments and two penthouses. It is within walking distance of Marymount MRT Station and a four-minute walk from Sin Ming Plaza.
In comparison, other condos in the vicinity such as Tresalveo, 183 Longhaus, and Thomson V Two have average transacted prices ranging from $1,712 psf to $1,912 psf. However, these condos are all freehold developments, whereas Jadescape is a 99-year leasehold development.
No new psf-price lows were recorded during the period in review.