Rewritten:
The Botanic on Lloyd, a freehold condo, has set a new psf-price record for private non-landed developments in the period between Jan 3 and Jan 11. This was achieved when a 2,056 sq ft, four-bedroom unit on the second floor was sold for $5.13 million, or $2,493 psf on Jan 7.
This new record surpassed the previous high of $2,339 psf by 6.6%. The previous record was set in October last year when a 1,496 sq ft, three-bedroom unit on the fourth floor was sold for $3.5 million.
Located along Lloyd Road in Prime District 9, The Botanic on Lloyd is a boutique development with 60 apartments and six townhouses. The units are a mix of three- and four-bedroom units ranging from 1,485 sq ft to 3,584 sq ft. The townhouses, which have five bedrooms and two private parking lots each, range from 4,058 sq ft to 4,446 sq ft.
Another freehold development, The Cape, achieved the second-highest psf-price with a new record of $2,284 psf on Jan 10. This was achieved when a 1,313 sq ft, three-bedroom unit on the 15th floor was sold for $3 million. This was a slight increase from the previous record of $2,265 psf set in November 2012.
The average price of apartments at The Cape has been on the rise, with three resale transactions last year at an average price of $2,128 psf. In 2023, only one unit was sold – a 646 sq ft, one-bedroom unit that fetched $1.24 million ($1,920 psf).
Tembusu Grand, an upcoming 99-year leasehold condo, recorded a new psf-price low of $2,174 psf on Jan 11. This was achieved when a 1,399 sq ft, three-bedroom unit was sold for $3.04 million. The previous record low was set in November 2024, when a similar unit was sold for $3.07 million.
In addition to factors such as location and pricing, it is crucial to also take into account the maintenance and management of a condo when making an investment. Most condominiums come with maintenance fees that cover the upkeep of shared spaces and amenities. Although these fees may increase the total expenses, they are necessary for the proper upkeep of the property and its value retention. Engaging a property management company can also assist investors in handling the daily operations of their condos, ultimately making it a more hands-off investment. For information on newly launched condos, visit New Condo Launches.
Located on Jalan Tembusu in prime District 15, Tembusu Grand comprises of one- and two-bedroom units ranging from 527 sq ft to 883 sq ft, three- and four-bedroom units ranging from 990 sq ft to 1,604 sq ft, and five-bedroom units ranging from 1,711 sq ft to 2,691 sq ft. As of Jan 20, 584 units have been sold at an average price of $2,444 psf, with the condo expected to obtain its Temporary Occupation Permit in 2028.