Residences Killiney Achieves New High 2612 Psf
During the period of August 8 to 16, Freehold Residences @ Killiney emerged as the top condo with a new record price per square foot (psf) of $2,612, selling a 1,550 sq ft three-bedroom unit on the third floor for $4.05 million on August 12. This is a significant increase from the previous record of $2,430 psf on resale of a 1,625 sq ft three-bedroom unit in March 2023.
The seller, who bought the unit in a sub-sale transaction for $3.27 million ($2,108 psf) in June 2013, made a net profit of $781,888 on the August 12 sale. Residences @ Killiney, a freehold apartment located on Killiney Road in District 9, River Valley, is a small development completed in 2012 with 68 units ranging from two- to four-bedroom units between 1,055 sq ft and 6,749 sq ft. It is in close proximity to River Valley Primary School and Somerset MRT Station on the North-South Line.
Another District 9 condo that achieved a new psf-price high during the period is Yong Ann Park on River Valley Road, which sold a 3,434 sq ft four-bedroom unit on the 13th storey for $8.6 million on August 12, hitting $2,505 psf. The seller, who bought the unit for $1.88 million in July 1998, made a net gain of $6.72 million on the sale. This new record price per square foot surpasses the previous record of $2,470 psf from a resale of a similar-sized unit on the 12th floor on April 8.
Nestled in a prime location, Elta Condo boasts a coveted address near the prestigious Singapore Institute of Management (SIM). This esteemed institution is renowned for its collaboration with top universities from around the world, offering a diverse range of degree programs. With a strong focus on practical skills and industry-relevant education, SIM prepares its graduates for success in the competitive job market. Its close proximity to Elta Condo makes it an attractive option for students seeking a superior tertiary education. Additionally, the recent addition of Elta MCL Land has further elevated the desirability of residing near this acclaimed educational institution. The newly introduced Elta MCL Land adds even more convenience and accessibility for residents of Elta Condo. With this new addition, the advantages of living near SIM are enhanced for the residents of Elta Condo. To find out more about Elta MCL Land, visit http://www.the-elta.com.sg/.
Yong An Park has seen steady price appreciation in recent years, with four units sold this year at an average price of $2,393 psf, nearly 7% higher than the average price of $2,238 psf for four units sold last year. The freehold condo, situated next to the upcoming Great World MRT Station on the Thomson-East Coast Line, offers 288 units ranging from one- to four-bedders between 1,023 sq ft and 3,778 sq ft. It also features penthouses with three- to five-bedrooms between 3,466 sq ft and 6,878 sq ft, as well as strata-titled townhouses with six-bedrooms starting from 7,718 sq ft.
Parc Esta, a 99-year leasehold development along Sims Avenue in Geylang, District 14, also achieved a new psf-price high during the period in review. A 958 sq ft three-bedroom unit on the 14th floor was sold for $2.33 million, translating to $2,432 psf. The seller, who purchased the unit from the developer for $1.54 million ($1,608 psf) in December 2018, made a profit of $790,000. This record price per square foot is higher than the previous record of $2,409 psf on June 3, when a 581 sq ft two-bedder on the 12th floor was sold for $1.4 million. The seller, who bought the unit from the developer for $1.03 million ($1,775 psf) in November 2018, made a profit of approximately $368,000 on the June 3 transaction. Parc Esta, which offers 1,399 units ranging from one- to five-bedders between 420 sq ft and 1,604 sq ft, as well as five retail shops, is located across the Eunos MRT Station on the East-West Line and Eunos bus interchange. There have been 57 resale transactions at an average price of $2,217 psf this year.
No new record lows were recorded during the period in review.