The latest auctions at 19 Nassim, a luxurious project situated on Nassim Hill in the District 10, has pushed the prices of psf in the development to a new record. The condominium was sold of a 538 square foot one-bedroom unit at $2.09 million ($3,876 per square foot) on January 4the highest price for psf among the condos that have achieved the highest psf price in Singapore for the period January 3 to 19.
Marina View Residences condominium is earmarked for residential and hotel use. The 0.78 ha or 84,000 sq ft site enjoys a maximum GFA of 1.09 million sqft.
The highest price for psf at 19 Nassim was set through the sale of a 1,410 square feet 3-bedroom apartment at $5.29 million ($3,751 per sq ft) on October 8, 2021.
On the 4th of January the 1,475 square foot three-bedroom apartment at 19 Nassim was purchased to a buyer for $5.63 million ($3,815 per square foot). The sales on Jan 4 are the first time units within the project were offered by the developer at a price greater than $3,800 per sq ft in accordance with the submitted URA restrictions.
19 Nassim is a luxurious 101-unit condo built by Keppel Land and is a renovation of the former development, Nassim Woods. The new development is located in an exclusive Nassim Road residential enclave, an area that is home to several luxurious developments like Nassim Park Residences and the coming Les Maisons Nassim.
19 Nassim is situated next to it’s location next to the Interpol Global Complex and in close proximity to Singapore’s embassy row on Napier Road. The property is also near in proximity to Singapore Botanic Gardens, Gleneagles Hospital, Tanglin Mall, and the Orchard Road shopping belt. Nearby transportation options include the newly-opened Napier as well as Orchard Boulevard MRT Stations located on the Thomson-East Coast Line.
There have been only six transactions so far in 19 Nassim despite the fact that the project was launched to be sold at the end of March. However, it’s possible that, given the specific nature this project has certain sales might not be included in the caveats.
In addition, One Bernam also saw an increase in the psf-price during the review period when a 441 sq . ft one-bedroom apartment was purchased through The developers to the developer for $1.45 million ($3,295 per square foot) on January 16. This price was higher than the previous record established by the sale of the 441sq ft one-bedder at $1.4 million ($3,168 per sq ft) on November 10, 2022.
One Bernam is a mixed-use development located at 1 Bernam Street in the Tanjong Pagar district in District 2. The whole development is comprised of two floors of retail space and 351 condominium units along with 13 apartment units that have been serviced. The project is currently being developed with MCC Group of Singapore. MCC Group and Hao Yuan Investment.
The 99-year leasehold plan was launched in May 2021. Based on submitted developer sales figures the project was about 40% sold by the end of December 2022.
The costs at the development have been increasing steadily over the last couple of months. The price in August of 2022 was psf price reached a record high of $2,971 when a 440 sq ft one-bedder unit was purchased at $1.31 million. Then, in December of this year, a brand new record psf-price was achieved by a 829 sq ft two-bedroom home was purchased at $2.57 million ($3,100 per square foot).
The only new development in the vicinity of One Bernam is Sky Everton on Everton Road. The freehold 262-unit development was announced in the month of May 2021 and is now completely sold, with 99% sales at the end of December 2022. However, the median selling price for Sky Everton can be around $2,859 psf. One Bernam’s median price is around $2,543 per square foot.
However, Sloane Homes located in District 10’s prime area has set a new PSF-price record when a 1 249 sq ft, three-bedroom apartment was bought by developers to the developers for $3.15 million ($2,526 per square foot) on January 7. The sale came less than one month after the last low of $2,664 per square foot was established on December 16 when a 1,249 sq . ft three-bedroom unit sold for $3.46 million.
In addition, the developer also relocated three additional units in Sloane Residences on the 7th of January.
The deals comprised a pair of adjacent seven43 square feet two-bedders that sold for $1.97 million ($2,659 per square foot) as well as $1.93 million ($2,598 per square foot) in addition to an additional 1,249 square feet three-bedroom apartment that was purchased to the buyer for $3.23 million ($2,585 per square foot).
Sloane Residences is now fully sold, on the basis of URA conditions. The development, which was jointly created through Tiong Seng Holdings and Ocean Sky International was granted its temporary occupancy permit in November.