Archive for category: Misc

A 603 sq ft two-bedder at Arena Residences in Geylang, District 14, recently marked a new psf-price high for the freehold condo. On Oct 10, the unit was sold for about $1.33 million, or $2,213 per square foot. This transaction topped the list of condos that saw record-breaking psf-price highs during the period of Oct 3 to 10.

The district will also offer great transport connectivity to the other parts of Singapore. Tampines Ave 11 Condo is a high-end condominium that will be built within the vicinity of this precinct. It will offer world-class living standards, modern amenities, and recreational facilities, further enhancing the district’s appeal. With the advantages of being situated near Tampines North and its planned amenities, Tampines Avenue 11 Condo is the perfect place to live for those wanting a convenient and well-planned lifestyle.

The seller of the unit had bought it for about $1.11 million ($1,846 psf) in January 2019, making a profit of about $220,000. Located along Guillemard Lane, Arena Residences was developed by RH Guillemard, a subsidiary of Roxy-Pacific Holdings, and was completed in 2021. Its 98 units consist of two- and three-bedroom units, with sizes starting from 549 and 807 sq ft respectively.

Data from EdgeProp’s LandLens shows that about 89.2% of buyers at Arena Residences are Singaporeans, while 7.8% are Permanent Residents and 2.9% are foreigners. The condo enjoys good accessibility to transport nodes, such as the Paya Lebar, Mountbatten and Aljunied MRT Stations. Average psf-price is about $2,200 while rental prices range from $6.20 to $7.30 psf per month, or an average of about $6.70 psf pm, yielding a rental return of 3.6%.

Camelot By-The-Water, a 99-year leasehold condo, also achieved a new psf-price high around the same time. On Oct 4, a 3,035 sq ft, four-bedroom apartment was sold for $6.71 million ($2,211 psf). This unit had previously been bought for $4.78 million ($1,575 psf) in October 2012, meaning a profit of about $1.93 million was made from the resale.

At Hazel Park Condominium, a 980 sq ft two-bedder changed hands on Oct 9 for a whopping price of $2 million ($2,042 psf). This is the first time the condo sold a unit for more than $2,000 psf, according to submitted URA caveats. The seller bought the unit for $1.08 million ($1,103 psf) in October 2020, resulting in a profit of $920,000.

These record-breaking psf-price highs reflect the property market buoyancy, as no record psf-lows were recorded during the period of review. Located along Tanjong Rhu Road in Kallang, District 15, Camelot By-The-Water has 99 units and offers a mix of three- to five-bedroom apartments, ranging from 2,400 to 5,800 sq ft. Hazel Park Condominium is a 999-year leasehold development with 696 units, located along Hazel Park Terrace in Bukit Panjang, District 23. The units at the condo range from two- to five-bedroom apartments, occupying between 980 and 2,874 sq ft.

Overall, the property market continues to show positive momentum. Despite a renewed COVID-19 surge in Singapore, the market continues to enjoy buoyancy, particularly for the mid- to high-end segments, as evidenced by the new psf-price highs.