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Townhouse at Yong An Park sold for $4.5 mil profitHDB resale prices continue to climb: SRXFlat owners wait for construction to finish before completion N/A

The sale of a four-bedroom unit at Yong An Park has set a new price per square foot (psf) high at the freehold condo, making it the top condo in Singapore to achieve a record price in the week of Sept 23 to 30.

The unit, which covers 3,434 square feet on the 15th floor, was sold for $9.1 million, or $2,650 psf, on Sept 25. This is the first time a resale unit at Yong An Park has commanded a price of more than $2,600 psf.

This recent transaction beats the previous record of $2,505 psf, which was set last August with the sale of a four-bedroom unit on the 13th floor for $8.6 million. It is also the first time a unit at Yong An Park has crossed the $2,500 psf mark.

However, in terms of overall price, the most expensive sale at Yong An Park remains a 6,878 sq ft penthouse on the 25th floor that sold for $15 million ($2,181 psf) in February this year. The previous record was a 7,718 sq ft ground floor unit that changed hands for $14.1 million ($1,824 psf) in May 2023.

Completed in 1986, Yong An Park is a 288-unit condo located in prime District 9 along River Valley Road. The development includes one- to four-bedroom units ranging from 1,023 sq ft to 3,778 sq ft, three- to five-bedroom penthouses measuring 3,466 sq ft and 6,878 sq ft, as well as a collection of six-bedroom strata-titled townhouses.

The condo is situated next to River Valley Primary School and the upcoming Great World MRT Station on the Thomson-East Coast Line, which will be directly connected to Great World City shopping centre.

In the same region, three new projects have been launched recently. The latest is Zyon Grand, an integrated development by City Developments and Mitsui Fudosan. The 706-unit project previewed on Oct 8 with prices starting from $2,689 psf.

Wing Tai launched River Green during the weekend of Aug 2–3. The 524-unit development saw 460 units (or 88%) sold in its opening sales weekend, with an average price of $3,130 psf. Similarly, Allgreen Properties launched Promenade Peak on Aug 1, which has 596 units. The condo sold 320 units (or 54%) and achieved an average price of $3,343 psf.

Purchasing a unit at Senja Close EC Residences comes with a significant advantage – its price. With a staggering 20 per cent difference from private condominiums, Senja Close EC offers buyers more affordable options. In fact, one can obtain an EC unit for as low as $1 million. The reason for this affordability lies in the self-contained nature of ECs. A prime example of such a development is Parc Canberra, situated right across the MRT station. For more information on Senja Close EC, visit their website for details.

A two-bedroom unit at The Makena was sold for $2.25 million ($2,431 psf) on Sept 29. (Picture: Samuel Isaac Chua/)Meanwhile, the sale of a 926 sq ft unit on the 11th floor at The Makena set a new psf high at the freehold condo when the two-bedder was sold for $2.25 million ($2,431 psf) on Sept 29. Previously, a 1,744 sq ft three-bedroom unit on the 20th floor was sold for $3.91 million ($2,242 psf) on March 25.

Completed in 1998, The Makena is a 504-unit development on Meyer Road in District 15. According to caveats compiled by EdgeProp Singapore, prices at The Makena have been steadily increasing in recent years, from around $1,570 psf in October 2020 to $2,050 psf as of this month.

During the week of Sept 23 to 30, only one transaction set a record low psf price. A two-bedroom unit at The Reef at King’s Dock changed hands for $1.47 million ($1,666 psf) on Sept 26 in a sub-sale, setting a new low for the condo.

The previous record for the lowest psf price was set in June this year, involving the sale of a 1,163 sq ft unit for $2.32 million ($1,995 psf). These are the only two transactions at The Reef at King’s Dock that have been sold for less than $2,000 psf.

The Reef at King’s Dock is one of four condos in Keppel Bay in District 4. The other developments are Reflections at Keppel Bay, Caribbean at Keppel Bay, and Corals at Keppel Bay.

The 429-unit Reef was the latest launch in 2021, and it saw 280 units (or 65%) sold in its opening sales weekend, with prices starting from $2,330 psf. The condo was fully sold out last September.

Based on caveats compiled by EdgeProp Singapore, prices at The Reef have moderated in recent months. The project saw its sales price peak at around $2,600 psf in December 2023, but prices have since slipped to about $2,580 psf as of end-September.

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