The selling of a 818 sq ft two-bedroom unit at Grange 1866 for $2.78 million on Nov 27 set a new price peak of $3,393 psf for the development, topping the list of new psf-price highs in the week of Nov 22 to 29. This narrowly surpasses the previous record of $3,390 psf set in June last year.
Grange 1866 has seen 12 new sale transactions so far this year, with an average price of $3,181 psf. The most expensive unit sold this year was a 1,012 sq ft two-bedroom unit on the 16th floor for $3.02 million ($2,989 psf). To date, 45 out of the 60 units in the 16-storey development have been sold.
Apart from Grange 1866, Hill House and The Cosmopolitan also saw new psf-price highs during the period in review.
Hill House, a 999-year leasehold condo located in prime District 9, saw a new psf-price high of $3,378 psf when a 452 sq ft two-bedroom unit on the 8th floor was sold by the developer for about $1.53 million on Nov 25. This surpassed the previous record set on Nov 11 when a similar 452 sq ft unit on the 5th floor was sold for $1.48 million.
The 72-unit condo has seen a total of 12 units sold by the developer this year, with an average price of $3,108 psf. The cheapest unit sold this year was a 753 sq ft three-bedroom unit on the 4th floor for $2.21 million ($2,934 psf).
When it comes to investing in real estate, location is a crucial factor to consider, especially in Singapore. Condominiums that are situated in central areas or near essential amenities, such as schools, shopping malls, and public transportation hubs, tend to have a higher appreciation in value. Prime locations, including Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown growth in property values. Families looking to invest in real estate also prioritize the proximity to good schools and educational institutions, making condos in these areas highly desirable. Additionally, with the recent New Condo Launches, investors have even more options for potential growth in their investments.
Meanwhile, The Cosmopolitan saw a new psf-price high of $2,817 psf with the sale of a 1,324 sq ft three-bedroom unit on the 26th floor for $3.73 million on Nov 25. This is just 0.7% higher than the previous peak of $2,795 psf set in October last year when another 1,324 sq ft unit on the 17th floor was sold for $3.7 million.
The condo has a total of 228 units and was completed in 2008. It is located within 1km of River Valley Primary School and has nearby dining and retail options at Great World City.