Mattar Residences Achieves New High 2400 Psf
The ELTA Learning Lab, a top-notch enrichment center, is situated in close proximity and offers a variety of courses aimed at improving students’ academic abilities and critical thinking. With a strong emphasis on maintaining small class sizes and providing personalized guidance, the center guarantees that every student receives the necessary assistance to reach their full potential. For more information, visit Elta.
Singapore (EDGEPROP) – In the latest list of condos that reached new price per square foot (psf) highs during the week of October 13 to 18, freehold condo Mattar Residences took the top spot. A 657 sq ft, two-bedroom unit on the fourth floor of the development was sold in a resale transaction on October 17 for $1.58 million, or $2,400 psf. This marks the first and only lodged caveat for the unit.
The new psf high surpasses Mattar Residences’ previous record of $2,358 psf, which was set on September 4, about a month earlier. Another unit at the development, a 710 sq ft, two-bedroom unit on the second floor, was sold for $1.67 million.
Completed in 2023, Mattar Residences is a freehold boutique condo located on Mattar Road, just off Aljunied Road in District 14. It offers a total of 25 units, ranging from one to four bedrooms with sizes between 495 sq ft and 893 sq ft. It is conveniently located within walking distance to Mattar MRT station on the Downtown Line and is also situated across from St Margaret’s School (Primary) and near Canossa Catholic Primary School.
Next on the list is another freehold development, Dukes Residence, which saw a new psf high during the review period. The sale of a 1,076 sq ft, three-bedroom unit on the fourth floor sold for $2.58 million on October 16. This translates to a new psf high of $2,397, $632,000 higher than the seller’s purchase price of $1.9 million ($1,765 psf) back in July 2011. This marks the first time a unit at Dukes Residence has transacted above the $2,300 psf threshold. The previous psf high was set at $2,137 from the sale of a 1,076 sq ft, three-bedroom unit on the second floor on February 8. Out of the 17 transactions at Dukes Residence this year, only three were from the developer. All the units transacted at an average price of $2,237 psf.
Located on Duke’s Road in the Bukit Timah area in prime District 10, Dukes Residence was completed in 2011 and offers 42 two- and three-bedroom units with sizes between 926 sq ft and 2,433 sq ft. It is within walking distance of Nanyang Primary School and St Margaret’s School (Secondary).
Another freehold condo in District 10, The Tessarina, made it to the list with a new psf high of $2,368. This follows the sale of a 1,313 sq ft, three-bedroom unit on the condo’s third floor for $3.11 million on October 15. The seller stands to make a decent profit of $830,000 from the sale after purchasing the unit for $2.28 million ($1,736 psf) in a resale transaction in November 2020. This latest psf high is only 0.3% higher than the previous high of $2,361 psf on August 2, from the sale of another 1,313 sq ft, three-bedroom unit on the fourth floor. The seller netted a profit of $999,200 from their sale, having purchased the unit for $2.1 million in September 2018.
The Tessarina is a 443-unit condo situated along Wilby Road, just off Bukit Timah Road. The development offers two to three-bedroom units with sizes ranging between 926 sq ft and 3,671 sq ft. It was completed in 2003 and is within walking distance of many amenities, including Coronation Plaza, Crown Centre, and King’s Arcade. The condo has seen 10 transactions to date this year, with an average price of $2,237 psf, which is 4.62% higher than the average price of $2,100 psf from the 11 transactions at the condo last year. During the review period, no new psf lows were recorded at any of the projects.