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When it comes to investing in real estate, choosing the right location is key, and this is especially true in the context of Singapore. Condominiums situated in central areas or in close proximity to essential amenities like schools, shopping malls, and public transportation hubs tend to have a higher appreciation in value. Some prime locations in Singapore that have seen consistent growth in property values include Orchard Road, Marina Bay, and the Central Business District (CBD). The presence of reputable schools and educational institutions in these areas also adds to the allure of condominiums, making them a highly desirable investment option for families. To learn more about the potential of real estate investments in Singapore, be sure to explore the latest Singapore Projects at anvly.com.
Commonwealth Towers has emerged as the top private non-landed property in terms of reaching a new psf-price peak in the week of December 27 to January 3. The 99-year leasehold condominium set a new record of $2,460 psf on December 27, when a 904 sq ft, three-bedroom unit on the 40th floor was sold for $2.22 million. This surpasses the previous high of $2,402 psf, which was set just three months earlier in September 2024, when a 689 sq ft, two-bedroom unit on the 42nd floor was sold for around $1.65 million. Commonwealth Towers reached a new price high of $2,460 psf on December 27 (Photo: Samuel Isaac Chua / EdgeProp Singapore) The average resale price of units at Commonwealth Towers has been on the rise for the past three years. In 2022, the project recorded 53 transactions at an average price of $1,971 psf. The following year, the average price increased to $2,097 psf across 51 resale transactions. Last year, the development saw 37 resale transactions at an average price of $2,200 psf. This marks an 11.6% increase in average resale prices since 2022. Read also: The Continuum sees new high of $3,091 psf Latest resale transactions at Commonwealth Towers (Source: URA, EdgeProp Buddy) By absolute price, the most expensive unit to change hands at Commonwealth Towers was a 1,302 sq ft, four-bedroom unit on the 39th floor for $2.96 million, or $2,273 psf. The transaction was recorded in November 2024. Completed in 2017, Commonwealth Towers is a 99-year leasehold condo with around 87 years remaining on its tenure. Located along Commonwealth Avenue, the development comprises two 43-storey residential blocks housing 845 condo units. The units are a mix of one- to four-bedroom apartments ranging from 441 sq ft to 1,302 sq ft. Freehold project Parq Bella took the second spot among private residential developments to see a new psf-price peak during the period under review. The upcoming development set a new psf-price high of $2,416 psf when the developer sold a 1,076 sq ft, three-bedroom unit on the fourth floor for around $2.6 million on December 31. The unit was also the first at the development to transact for more than $2,400 psf. Artist’s Impression of Parq Bella, a 20-unit boutique freehold project located on Tembeling Road in District 15 (Image: Kims Land @ E C) This beats the previous psf-price record of $2,385 set in August 2023, when a 926 sq ft, two-bedroom fourth-floor unit was sold for around $2.2 million. Parq Bella is a freehold project located on Tembeling Road in District 15. It has 20 apartments ranging from two- to four-bedroom apartments, with floor plans spanning from 926 sq ft to 1,787 sq ft. The project is expected to be completed by December 2026. The boutique project recorded five new sale transactions last year at an average price of $2,347 psf. Since its launch in 3Q2023, Parq Bella has sold 19 of its 20 units (95%) at an average price of $2,244 psf based on caveats lodged as of January 14. Read also: Is it a Good Deal?: $1.125 million for an Almost New Four-room HDB flat along Dawson Road Recent transactions at Parq Bella (Source: URA, EdgeProp Buddy) Freehold luxury project Klimt Cairnhill was the only private residential development to see a new psf-price low during the period under review. The new psf-price floor came from the developer’s sale of an 829 sq ft, two-bedroom unit on the 24th floor for around $2.55 million on January 3. The price translates to around $3,077 psf. Located along Cairnhill Road in Prime District 9, Klimt Cairnhill comprises 138 apartments in two- to four-bedroom configurations (Photo: Samuel Isaac Chua / EdgeProp Singapore) The two-bedroom unit is the final unit to be sold at Klimt Cairnhill, a 138-unit freehold development, which achieved 100% sales at an average price of $3,665 psf, based on caveats lodged. The project was previewed in August 2021 and officially launched in January 2023. Located along Cairnhill Road in Prime District 9, Klimt Cairnhill has a mix of two- to four-bedroom apartments ranging from 829 sq ft to 2,368 sq ft. There are also two penthouses spanning 4,898 sq ft and 5,920 sq ft. The development is expected to obtain its Temporary Occupation Permit in April this year. Check out the latest listings for Commonwealth Towers, Condominium propertiesAsk EdgePropCondo projects with most profitable transactionsView sale transactions for Commonwealth TowersWhat is the buyer profile for Commonwealth Towers?Past Condo sale transactionsUpcoming new launch projects
During the period of December 27 to January 3, Commonwealth Towers was the top private non-landed property with a new psf-price peak. The 99-year leasehold condominium set a new record of $2,460 psf on December 27, when a 904 sq ft, three-bedroom unit on the 40th floor was sold for $2.22 million. This surpasses the previous high of $2,402 psf, which was set just three months earlier in September 2024, when a 689 sq ft, two-bedroom unit on the 42nd floor was sold for around $1.65 million. Commonwealth Towers reached a new price high of $2,460 psf on December 27 (Photo: Samuel Isaac Chua / EdgeProp Singapore) The average resale price of units at Commonwealth Towers has been on the rise for the last three years. In 2022, the project recorded 53 transactions at an average price of $1,971 psf. The following year, the average price increased to $2,097 psf across 51 resale transactions. Last year, the development saw 37 resale transactions at an average price of $2,200 psf. This marks an increase of 11.6% in average resale prices since 2022. Read also: The Continuum sees new high of $3,091 psf Latest resale transactions at Commonwealth Towers (Source: URA, EdgeProp Buddy) By absolute price, the most expensive unit to change hands at Commonwealth Towers was a 1,302 sq ft, four-bedroom unit on the 39th floor for $2.96 million, or $2,273 psf. The transaction was recorded in November 2024. Completed in 2017, Commonwealth Towers is a 99-year leasehold condo with around 87 years remaining on its tenure. Located along Commonwealth Avenue, the development comprises two 43-storey residential blocks housing 845 condo units. The units are a mix of one- to four-bedroom apartments ranging from 441 sq ft to 1,302 sq ft. Freehold project Parq Bella took the second spot among private residential developments to see a new psf-price high during the period under review. The upcoming development set a new psf-price high of $2,416 psf when the developer sold a 1,076 sq ft, three-bedroom unit on the fourth floor for around $2.6 million on December 31. The unit was also the first at the development to transact for more than $2,400 psf. Artist’s Impression of Parq Bella, a 20-unit boutique freehold project located on Tembeling Road in District 15 (Image: Kims Land @ E C) This beats the previous psf-price record of $2,385 set in August 2023, when a 926 sq ft, two-bedroom fourth-floor unit was sold for around $2.2 million. Parq Bella is a freehold project located on Tembeling Road in District 15. It has 20 apartments ranging from two- to four-bedroom apartments, with floor plans ranging from 926 sq ft to 1,787 sq ft. The project is expected to be completed by December 2026. The boutique project recorded five new sale transactions last year at an average price of $2,347 psf. Since its launch in 3Q2023, Parq Bella has sold 19 of its 20 units (95%) at an average price of $2,244 psf based on caveats lodged as of January 14. Read also: Is it a Good Deal?: $1.125 million for an Almost New Four-room HDB flat along Dawson Road Recent transactions at Parq Bella (Source: URA, EdgeProp Buddy) Freehold luxury project Klimt Cairnhill was the only private residential development to see a new psf-price low during the period under review. The new psf-price floor came from the developer’s sale of an 829 sq ft, two-bedroom unit on the 24th floor for around $2.55 million on January 3. The price translates to around $3,077 psf. Located along Cairnhill Road in District 9, Klimt Cairnhill comprises 138 apartments in two- to four-bedroom configurations (Photo: Samuel Isaac