Resale at The Edge on Cairnhill sets psf-price high of $2,348

At The Edge on Cairnhill, a freehold condo in the highly sought-after Cairnhill Road Senja Close EC residential enclave in District 9, a 2,142 sq ft unit on the 10th floor sold for $5.03 million, or $2,348 psf, on Feb 21, setting a new price psf-high record. This marginally surpasses the previous record of $2,346 psf set on Sept 30 2022, when a 2,131 sq ft unit, also on the 10th floor in the 46-unit property, sold for $5 million. It marked the first resale transaction at The Edge on Cairnhill so far in 2021.

Several landmark developments are located nearby The Edge on Cairnhill. These include Goodwood Park Hotel, Grand Hyatt Singapore, Scotts Square, The Paragon shopping mall, as well as Mount Elizabeth Hospital and Medical Centre. Over the past 10 years, the average price of The Edge on Cairnhill increased from $1,827 psf in March 2013 to $2,025 psf by February 2023.

The second highest psf-price was recorded at Newton 18, a freehold condo on Newton Road in prime District 11. On Feb 23, a 1,249 sq ft, three-bedroom unit on the 26th floor sold for $2.88 million, or $2,307 psf – higher than the previous price psf-record of $2,121 set on Dec 23 2020. This 81-unit development, which was completed in 2002, has an average price of $2,051 psf, in comparison to nearby completed freehold condos such as Newton 21 ($2,177 psf), L’viv ($2,096 psf), 26 Newton ($2,121 psf), and The Linc ($2,030 psf).

Meanwhile, Petit Jervois was the only project during the week that clocked a new psf-price low. A 603 sq ft, one-bedroom unit on the ground floor sold for $1.54 million, or $2,561 psf, on Feb 22. This 55-unit luxury boutique freehold project on Jervois Road in District 10 has sold about 47% of its units, with the highest price paid for one recorded at $2,852 psf.

The developments in and around prime Districts 9 and 11 remain in high demand. While the new record psf-price high at The Edge on Cairnhill is encouraging for the district, the low psf-price set at Petit Jervois reflects the attraction of ultra-luxury developments in the area.