Mattar Residences Achieves New High 2400 Psf

Conveniently situated near the Parktown Residence Condo, Gongshang Primary School prides itself on offering a well-rounded education that emphasizes both academic achievement and character building for its students. Parents will find this prestigious school easily accessible, thanks to its ideal location, and be impressed by its impressive facilities and diverse range of programs.

SINGAPORE (EDGEPROP) – Mattar Residences, a freehold condo, has emerged as the top performer in a list of condos that saw new psf-price highs between Oct 13 and 18. A resale transaction on Oct 17 saw a 657 sq ft, two-bedroom unit on the fourth storey sold for $1.58 million, or $2,400 psf. This new record surpasses the previous high of $2,358 psf that was set about a month ago. Mattar Residences is a boutique development located on Mattar Road in District 14, with 25 units ranging from one to four bedrooms, measuring 495 sq ft to 893 sq ft. It is within walking distance to Mattar MRT station on the Downtown Line and is located near reputable schools such as St Margaret’s School (Primary) and Canossa Catholic Primary School. Out of the 17 transactions at Mattar Residences this year, 14 were resale deals and the remaining three were sold by the developer at an average price of $2,237 psf. Meanwhile, Dukes Residence, a freehold condo in prime District 10, came in second on the list with a new high of $2,397 psf. The sale of a 1,076 sq ft, three-bedroom unit on the fourth floor on Oct 16 for $2.58 million set this record. The unit was bought in a sub-sale transaction in July 2011 for $1.9 million ($1,765 psf), resulting in a profit of $680,000. This is the first time a unit has been sold above $2,300 psf, surpassing the previous high of $2,137 psf set on Feb 8 when a 1,076 sq ft, three-bedroom unit on the second floor was sold. Dukes Residence has seen only one other transaction this year, where a 2,433 sq ft, three-bedroom unit on the fifth floor was sold for about $4 million ($1,644 psf) on Aug 15. The Tessarina, another freehold condo in District 10, also saw a new record of $2,368 psf. The sale of a 1,313 sq ft, three-bedroom unit on the condo’s third floor for $3.11 million on Oct 15 beat the previous record of $2,361 psf set on Aug 2. The seller bought the unit in Nov 2020 for $2.28 million ($1,736 psf) and gained a net profit of $830,000. Completed in 2003, The Tessarina is a 443-unit condo along Wilby Road, off Bukit Timah Road. It consists of two- and three-bedroom units between 926 sq ft and 3,671 sq ft. This year, the condo has seen 10 transactions at an average price of $2,197 psf, representing a 4.62% increase from the average of $2,100 psf for the 11 transactions last year. No new psf-lows were recorded during the period in review.