8M Residences has taken the lead in private condo sales during the week of Feb 1 to 7, achieving a new psf-price peak. The freehold development sold a two-bedroom unit spanning 646 sq ft on the 15th floor for a record-breaking $1.54 million, which translates to $2,384 psf. This is the first time a unit at 8M Residences has been sold for over $2,300 psf.
This latest sale surpasses the previous peak of $2,261 psf in April 2023, when a similar 646 sq ft two-bedroom unit on the 11th floor was sold for $1.46 million. 8M Residences also recorded another transaction in the same week that surpassed the April 2023 record. On Feb 3, a 527 sq ft one-bedroom unit on the 11th floor was transacted for $1.2 million, equivalent to $2,275 psf.
In terms of absolute price, the most expensive unit to be sold at 8M Residences is a 1,841 sq ft three-bedroom unit that was bought for $2.85 million ($1,548 psf) by developers in October 2012.
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Resale data compiled by EdgeProp Singapore shows that resale prices at 8M Residences have been consistently rising over the last few years. Based on a 12-month rolling average, the average psf price of units at the condo has increased by 7.3% over the past three years, from $2,028 psf in February 2022 to $2,177 psf in February 2025.
Completed in 2017, 8M Residences is a 20-storey residential tower with a total of 68 units. The development offers a range of one- to three-bedroom units, with sizes ranging from 517 to 1,421 sq ft. It also boasts four penthouses, ranging from 1,184 to 1,841 sq ft. The condo is conveniently located within walking distance of EtonHouse International Research Pre-School along Mountbatten Road, Katong Swimming Complex along Wilkinson Road, and Katong Park MRT Station along the Thomson-East Coast Line.
In second place on the list of condos that achieved a psf-price high is Kovan Jewel, a boutique condo along Kovan Road in District 19. A three-bedroom unit spanning 1,076 sq ft on the second floor was sold by the developer for $2.41 million on Feb 7, setting a new high of $2,236 psf. This breaks the previous peak set last August, when a similar unit on the fourth floor was sold for $2.4 million ($2,228 psf).
Completed last year, Kovan Jewel offers freehold units ranging from one to three bedrooms, with sizes ranging from 624 to 1,345 sq ft. There are also four-bedroom penthouses ranging from 1,237 to 2,153 sq ft. As of Feb 18, 17 units (50%) have been sold at an average price of $2,111 psf, with nine units sold last year at an average price of $2,111 psf. The unit sold on Feb 7 marks the first sale this year.
Oleanas Residence, a freehold condo located along Kim Yam Road in District 9, takes third place on the list. A three-bedroom unit spanning 1,141 sq ft on the sixth floor was sold for $2.52 million on Feb 3, setting a new record of $2,207 psf at the condo. The previous highest transacted price was $2,157 psf for a 1,238 sq ft unit sold for $2.67 million in August 2022. In terms of absolute price, the most expensive resale unit at the condo was a 1,636 sq ft three-bedroom unit that sold for $3.3 million ($2,017 psf) in December 2022.
Completed in 1999, Oleanas Residence has only seen four resale transactions in the past three years. The transactions ranged from $2.4 million ($2,103 psf) for a 1,141 sq ft three-bedroom unit in November 2023 to $3.3 million ($2,129 psf) for a 1,550 sq ft four-bedroom unit in April 2024. The condo is within walking distance of two MRT stations: Great World MRT Station on the Thomson-East Coast Line and Fort Canning MRT Station on the Downtown Line. It is also surrounded by several educational institutes, such as River Valley Primary School and Outram Secondary School, within a 1km radius.