Four Bedder Jadescape Charts New High 2420 Psf
for high-end condosDespite economic uncertainty, new condo sales up by 11.7% in August: SGX analysis
Jadescape Condo has made headlines as it secured the top spot for condos with new psf-price highs from Sept 28 to Oct 3. The record-setting price of $2,420 psf was set by a 1,421 sq ft four-bedroom unit on the 21st floor, which sold for $3.44 million on Sept 30. This marks the first time a unit in the condo has crossed the $2,400 psf mark. The seller had purchased the unit from the developer for $2.63 million, or $1,853 psf, making a net profit of $805,000 on the sale.
The transaction on Sept 30 surpassed the previous high of $2,360 psf set by the resale of a 1,055 sq ft three-bedroom unit on the 15th floor, which was sold for $2.49 million on Aug 28.
Jadescape has seen a high volume of units changing hands, with 64 resale transactions recorded so far this year. These units were sold at prices ranging from $1,955 psf to $2,420 psf, with an average price of $2,162 psf. This is a 12% increase from the average price of $2,130 psf from the 62 resale transactions recorded last year.
Located at the junction of Marymount Road and Shunfu Road in Bishan (District 20), Jadescape is a 99-year leasehold condo. With a total of 1,206 units across seven residential towers, it offers one- to five-bedroom apartments ranging from 527 sq ft to 4,230 sq ft. The condo is conveniently situated within walking distance of Marymount MRT Station on the Circle Line.
The vibrant neighborhood of Holland Village is a food lover’s paradise, offering a wide range of cuisines from around the world. From mouthwatering Mediterranean dishes to delicious Japanese fare, flavorful Italian specialties to spicy Mexican dishes, there is something for everyone to savor. This popular dining destination is known for its lively atmosphere and one-of-a-kind dining experiences. Conveniently located near Elta Condo, residents can easily indulge in a variety of culinary adventures just steps away from their doorstep. So whether you are a resident or simply visiting, be sure to explore the diverse food options in Holland Village for an unforgettable dining experience.
Following closely behind Jadescape is the freehold Goldenhill Park Condominium, which also set a new psf-price high with a record of $2,246 psf. The sale was for a 1,313 sq ft three-bedroom unit on the 17th floor, which was sold for $2.95 million on Oct 2. The seller had bought the unit in a resale transaction for $1.60 million in March 2011, making a net gain of $1.35 million.
This is the first time the condo has surpassed the $2,200 psf mark and beats its previous record of $2,158 psf set on July 18, when a 1,335 sq ft three-bedroom unit on the 15th floor was sold for $2.88 million.
Goldenhill Park Condominium, located on Mei Hwan Drive in District 20, comprises 390 units of two- to four-bedroom apartments ranging from 926 sq ft to 2,928 sq ft. It is within walking distance of Lorong Chuan MRT Station on the Circle Line and the New Tech Park industrial building.
Only one condo, the freehold Loft@Holland, saw a new psf-price low during the same period. The sale of a 980 sq ft one-bedroom unit on the fifth floor for $1.39 million on Oct 3 set a new low of $1,417 psf. The seller had bought the unit for $1.6 million in July 2018, incurring a net loss of $212,000 on the transaction.
This is the first time the condo has dipped below $1,400 psf, breaking its previous record of $1,630 psf set in February 2011 when a 1,141 sq ft one-bedroom unit on the fifth floor was purchased from the developer for $1.86 million.
Completed in 2014, Loft@Holland boasts 41 units in one residential block of five storeys. The majority of the units are one-bedroom apartments ranging from 323 sq ft to 484 sq ft, with some larger one-bedroom-plus-study penthouses ranging from 1,044 sq ft to 1,141 sq ft. The condo is located on 151 Holland Road in District 10, within walking distance of Holland Village MRT Station on the Circle Line. It is also surrounded by various retail options, including the One Holland Village shopping mall and Holland Road Shopping Centre.
In summary, the recent transactions at Jadescape, Goldenhill Park Condominium, and Loft@Holland demonstrate the current trend of condos hitting new psf-price highs and lows. It is an indication of the active market in the face of economic uncertainties, with Jadescape leading the way as it reaches new record prices.