Luxury project 19 Nassim sees prices cross $3,800 psf for the first time

At 19 Nassim, a luxury project located on Nassim Hill in District 10, sales continue to reach new heights. On Jan 4, a 538 sq ft, one-bedroom unit was sold for an astounding $2.09 million ($3,876 psf), representing the highest psf price for any transaction in Singapore for the period encompassing Jan 3 to 19.

This latest sale shows an impressive improvement on the project’s previous psf-price high, set back in October 2021 when a 1,410 sq ft, three-bedroom unit was sold for $5.29 million ($3,751 psf). On the same day, a larger 1,475 sq ft three-bedroom unit fetched an even higher price of $5.63 million ($3,815 psf).

19 Nassim is situated in the exclusive Nassim Road residential enclave, alongside other luxury developments such as Nassim Park Residences and the upcoming Les Maisons Nassim. It also lies close to the Interpol Global Complex, Singapore’s embassy row on Napier Road, the Singapore Botanic Gardens, Gleneagles Hospital, Tanglin Mall as well as Orchard Road shopping belt. The newly operational Napier and Orchard Boulevard MRT Stations on the Thomson-East Coast Line are also conveniently located nearby.

Despite the project being launched in March 2020, Senja Close EC there have only been six recorded transactions so far. It should be noted, however, that due to its highly exclusive character, some sales may not have been reflected in caveats.

A similar trend is seen at One Bernam, another project in District 2’s Tanjong Pagar area. On Jan 16, a 441 sq ft, one-bedroom unit was sold for $1.45 million ($3,295 psf), setting a new psf-price high for the development. This breaks the previous high of $1.4 million ($3,168 psf) for a 441 sq ft one-bedder unit, set in November 2022.

One Bernam is a mixed-use building comprising a two-storey retail podium, 351 condo units, and 13 serviced apartments. It is being developed by Singapore’s MCC Group and Hao Yuan Investment. Despite being launched in May 2021, it has almost been 40% sold according to submitted developer sales data.

The only new development within close vicinity of One Bernam is Sky Everton on Everton Road. The freehold 262-unit project was launched in May 2021 and has already seen 99% of its apartments sold, with average psf-prices higher at $2,859 compared to One Bernam’s $2,543.

At Sloane Residences in District 10, the reverse is true. Psf-prices hit a new low on Jan 7 when a 1,249 sq ft, three-bedroom unit sold for $3.15 million ($2,526 psf). This follows the earlier low of $2,664 psf for a 1,249 sq ft three-bedder, set on Dec 16.

Apart from the three-bedroom unit, three other units at Sloane Residences were transacted on Jan 7. This included a pair of neighbouring 743 sq ft two-bedders which achieved $1.97 million ($2,659 psf) and $1.93 million ($2,598 psf) respectively, as well as a separate 1,249 sq ft, three-bedroom unit that went for $3.23 million ($2,585 psf).

The 99-year leasehold project, jointly developed by Tiong Seng Holdings and Ocean Sky International, has now seen all of its units sold, with the project obtaining its Temporary Occupation Permit last November.