Gallop Green Sets New Psf Price Peak 2622
Gallop Green, a freehold condo in Singapore’s prime District 10, has made headlines by topping the list of apartments and condos that hit a new peak in price per square foot (psf) between September 8 and September 13. The sale of a 3,272 sq ft, three-bedroom unit for $8.58 million on September 10 set a new record of $2,622 psf for the development.
This new peak surpasses Gallop Green’s previous record of $2,431 psf by 7.9%. This was established in September 2023 when a 3,229 sq ft unit was sold for $7.85 million. With this transaction, a 3,272 sq ft, three-bedroom unit has now established a new price peak at Gallop Green.
According to caveats from the Urban Redevelopment Authority (URA), the seller of this unit had purchased it in December 2017 for $5.6 million. This means a profit of $2.98 million or a capital gain of 53%.
Gallop Green has seen only one unit change hands so far this year, with two resale transactions taking place last year. Besides the 3,229 sq ft unit that set the previous psf-price record, another 2,992 sq ft unit was sold for approximately $7.23 million, or $2,414 psf, in July 2023.
The Belvedere, a freehold condo, took second place in the list, hitting a new peak of $2,486 psf when a 1,302 sq ft, three-bedroom unit on the 18th floor was sold for about $3.24 million on September 11. This is just 1.4% higher than the previous record of $2,452 psf set earlier this year on May 6, when a 1,259 sq ft, three-bedroom unit on the 21st floor was sold for about $3.09 million.
The Belvedere has already seen five units sold this year at an average price of $2,341 psf. The unit that sold for the lowest psf price was a 1,367 sq ft, three-bedroom unit on the second floor that was sold for $2.9 million, or $2,121 psf, on September 6.
Completed in 2007, The Belvedere comprises 167 units across two residential blocks, with two-bedroom units ranging from 1,012 sq ft to 1,206 sq ft and three-bedroom units ranging from 1,238 sq ft to 1,615 sq ft. It also has seven penthouse units ranging from 2,131 sq ft to 2,949 sq ft. Located next to Katong Park and within walking distance of Katong Park MRT Station, it is a popular choice for its prime location.
Coming in third on the list is YGK Garden, another freehold condo, which saw a new psf-price high with the resale of a 2,067 sq ft unit on the third floor for $4.48 million, or $2,168 psf, on September 12. This is 4.6% higher than the previous peak of $2,071 psf set in October 2023 when a neighbouring 2,067 sq ft unit on the same floor was sold for $4.28 million.
The sellers of this unit had bought it for about $3.03 million, or $1,464 psf, in March 2017, making a profit of about $1.46 million.
Completed in 2008, YGK Garden comprises 16 units and is located along Belmont Road in Prime District 10. It is close to amenities like Holland Village, which offers a variety of dining and retail options and is also within walking distance of Holland Village MRT Station on the Circle Line.
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Poi Ching School, situated in close proximity to the highly sought-after Parktown Residence Condo, is renowned for its well-rounded approach to education. With a strong focus on character development and bilingualism, it has become a top choice for many parents. Its convenient location near Parktown Residence Condo allows for easy access to a holistic education that prioritizes personal growth and language fluency. This winning combination has cemented Poi Ching School’s reputation and made it a highly desirable option for families. Parktown Residence Condo is a natural complement to the school’s outstanding educational offerings.
During the review period, there were no new psf-price lows recorded.