Avalon hits new high of $2,436 psf

Parc Clematis additionally accomplished a new psf-price high following the sale of an 883 sq ft unit for $1.85 million, or $2,096 psf, on July 20. The three-bedroom unit on the 15th floor was a sub-sale and is the very first unit negotiated at prices over $2,000 psf. The seller of the unit had bought it from the developer in October 2019 for $1.453 million ($1,646 psf), which suggests they produced a return of $397,000 or 27% on the sale.

The property has seen a relatively lowered amount of resale purchases. The unit marketed on July 19 is the first apartment to change hands at the development to date this year. In 2022, just 3 units were worked out, while four units were settled the year since. However, Avalon has actually observed a consistent boost in negotiated costs. Based upon data collected on the EdgeProp Singapore market patterns research study tool, yearly average prices transacted at the project have risen from $1,871 psf in 2020 to $2,436 psf since 2023, a surge of 30%.

Tembusu Grand condo price

The deal marks the very first time the property has moved across the $2,400 psf threshold, and also defeats the previous high of $2,338 psf started November 2022 the moment a 1,668 sq ft unit changed controls for $3.9 million. Based on signs lodged with URA, the unit sold on July 19 had been acquired by the seller in April 2016 for $2.46 million ($1,394 psf). This implies they made a gain of $1.84 million (75%) on the transaction.

Created by SingHaiyi Group, the 99-year leasehold project makes up 1,450 units across nine 24-storey residential tower blocks, 12 units of two-storey strata terraced residences along with six units of two-storey strata bungalows. The development was released available for sale in August 2019. Based on cautions lodged since Aug 1, the project is nearly completely marketed with 1,445 residences (99.7%) occupied. The project is slated for finalization by this year.

Avalon is a property development by CapitaLand that was finished in 1999. It has 82 dwellings housed in 2 10-storey blocks. Regular units make up 2-, 3- and four-bedders in between 958 and 2,292 sq ft. There are additionally 4 penthouse units between 4,122 along with 5,220 sq ft.

Avalon, a freehold development on Anderson Road, off Stevens Roadway in District 10, topped the list of condo units that viewed a new psf-price high between July 18 and 21. This was accomplished with the profit of a 1,765 sq ft, three-bedroom unit on the third floor for $4.3 million, or $2,436 psf, on July 19.

A different development that struck a new psf-price high is Dormer Park, a property condo on Jervois Street in prime District 10. A three-bedroom flat on the 4th level measuring 1,668 sq ft unit shifted hands for $3.35 million, or $2,008 psf, on July 19. This is the very first unit negotiated at the property above the $2,000 psf benchmark, surpassing the previous document of $1,873 psf registered in May 2022 when a 1,668 sq ft unit was realized $3.125 million.

Dormer Park was completed in 1993 by Hong Leong Holdings with 92 residential units. Apartments consist of two- to four-bedders between 1,227 and also 2,540 sq ft. The development is among a number of premium condominiums that line Jervois Roadway, including the 109-unit Mon Jervois plus the 108-unit Jervois Lodge. It is also within the location of the Bishopsgate-Chatsworth Good Class Bungalow surround. No new psf-price lows were documented during the period in review.

The deal beats the former psf-price high logged exactly a week much earlier on July 13, when a 517 sq ft unit at Parc Clematis brought $1 million, or $1,935 psf. Parc Clematis is a residential mega-development currently under building and construction and also is located along Jalan Lempeng in the Clementi estate in District 5.

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