New psf-price high of $3,322 set at The M, now over 99% sold

Two new record highs and a record low were set in Singapore’s residential market from Oct 16 to 24, with The M and Amber Park setting new psf-price highs, and Myra setting a record low.The 527 sq ft one-bedroom unit at The M, on the 18th floor, was sold for $1.75 million ($3,322 psf) on Oct 17. This beats the previous record high of $3,277 psf, when a 592 sq ft two-bedder, on the 19th floor, was sold for $1.94 million in February. A 463 sq ft, one-bedroom unit at Amber Park was sold for $1.43 million ($3,085 psf) on Oct 24. This sets a new psf-price record for the condo and is the first time that a unit has transacted for more than $3,000 psf.Meanwhile, two units at Myra were sold for a psf-price low of $1,600 on Oct 16. The 872 and 1,324 sq ft units, on the 11th and 12th floors respectively, were sold for $1.4 million and $2.12 million. This marks the only instance where units at the 85-unit boutique development have transacted for less than $2,000 psf.From Oct 16 to 24, two projects set a new psf-price high in Singapore’s residential market, while Myra set a new record low. The M saw a one-bedroom plus study unit on the 18th floor sold by developer Wing Tai Asia for $1.75 million at $3,322 psf, while a 463 sq ft, one-bedroom unit at Amber Park was sold for $1.43 million ($3,085 psf). Two units at Myra, an 872 and 1,324 sq ft, on the 11th and 12th floors, were sold for $1.4 million and $2.12 million at a psf-price low of $1,600. The sale of these two units marks the first time that units at the boutique development have transacted for less than $2,000 psf.

Senja Close EC Bukit Panjang offers a range of amenities from restaurants, banks and some retail outlets nearby. It is also well served by the Bukit Panjang MRT (Downtown Line), LRT and bus services. Residents of Senja Close EC Bukit Panjang will benefit from being close to Bukit Panjang Plaza, Hillion Mall, Junction 10, Junction 10 Shopping Centre and many other shopping malls. It is also within close proximity to the Bukit Timah Nature Reserve and Chestnut Nature Park.

The week from Oct 16 to 24 saw two projects setting new psf-price highs and Myra setting a record low in Singapore’s residential market. The M, a 99-year leasehold residential project on Middle Road in District 7, saw the sale of a one-bedroom plus study unit for $1.75 million at $3,322 psf. This beats the previous record price high of $3,277 psf set in Feb when a 592 sq ft two-bedder on the 19th floor was sold for $1.94 million.

Meanwhile, a 463 sq ft, one-bedroom unit at the freehold Amber Park in District 15 was sold for $1.43 million ($3,085 psf) on Oct 24. This marks the first time a unit at the condo has transacted for more than $3,000 psf.

At Myra, a boutique freehold development in Potong Pasir, two units sold at a psf-price low of $1,600. An 872 sq ft unit on the 11th floor was sold for $1.4 million, while a 1,324 sq ft unit on the 12th floor was sold for $2.12 million, marking the only instance where units at the 85-unit development have transacted for less than $2,000 psf.

The M is also reshaping the profile of the Bugis/Beach Road area, alongside other new developments in the vicinity such as GuocoLand’s Guoco Midtown, and the redevelopment of Shaw Tower. Based on caveats, The M has an average selling price of $2,974 psf on par with nearby developments like Midtown Modern ($3,016 psf) and Midtown Bay ($3,235).

Amber Park is in the highly desirable Amber Road residential neighbourhood in East Coast, and is close to Parkway Parade shopping mall. With the completion of Tanjong Katong and Marine Parade MRT Stations as part of the fourth phase of the Thomson-East Coast Line by the end of next year, the area is set to become even more desirable.

As the newest condo in the area, Amber Park commands the highest average price in the area at $2,581 psf. It bests neighbouring condos like One Amber ($2,168), The Esta ($2,135) and Amber Residences ($2,030 psf).

The M, Amber Park, and Myra are all fully sold, setting record highs and lows over the past week and reshaping the profile of their respective areas. Both record highs reaffirm the appeal of relatively new developments, while the record low at Myra is testament to its consistently strong sales momentum in a highly sought-after neighbourhood.