Unit at Altura EC sold for record $1,585 psf

Residents of Senja Residences EC will enjoy easy access to different amenities such as supermarkets, entertainment facilities, schools and other facilities. Furthermore, the nearby Bukit Panjang Integrated Transport Hub offers direct access to the Downtown Line. Hence, it is well-connected to other parts of Singapore. This EC has plenty of facilities within the development which includes a gym, clubhouse, swimming pool, children’s playground and a BBQ area. With so many amenities nearby, it is definitely worth looking into.

Pent-up demand and the recognition of potential development have made the area surrounding Tengah, Singapore popular among buyers. Altura, an executive condominium in Bukit Batok West Avenue 8, is a testament to this increasing popularity. On September 15, according to caveats lodged with URA, Altura’s 980 sq ft unit was sold by the developer for $1.553 million, or approximately $1,585 psf – a new all-time high for an EC unit.

At the time of its launch on August 5, the 360-unit Altura sold an impressive 220 units (61.1 percent) on launch day. It was, unsurprisingly, the best-selling project in the month of August, with a total of 225 units moved at a median price of $1,480 psf. The project is now 87.5 percent sold, with 315 units sold based on caveats lodged as of September 29.

Next door to Altura is the site for a future EC. In September 2022, City Developments Limited (CDL) secured the tender for the Government Land Sale site with a top bid of $336.068 million, or a land rate of $626 psf per plot ratio (psf ppr). The EC is expected to feature 512 units.

Given the performance of Altura and Copen Grand, the 639-unit EC at Tengah Garden Walk that sold out in December 2022 at an average price of $1,334 psf, there is likely to be much interest when the development at Bukit Batok West Avenue 5 officially launches for sale. According to Sandrasegeran, launch prices for the new EC will likely be in range of $1,400 psf, factoring the land rate of $626 psf ppr.

Residents looking for an EC in the area should check out the latest listings for Altura properties. With strong demand among buyers for properties including executive condominiums in the Tengah area, the future of Singapore’s real estate market looks promising.