Parc Esta Achieves New High 2409 Psf
Minor land price corrections not a sign of a large-scale…
Parc Esta, a 99-year leasehold condo situated along Sims Avenue in District 14, has emerged as the top condo in Singapore with the highest psf-price highs during the period from June 1 to 7. This comes after the sale of a 581 sq ft unit for $1.4 million, translating to $2,409 per sq ft, on June 3.
Based on caveats lodged, the seller had purchased the unit from the developer in 2018 for $1.03 million or $1,775 per sq ft. This means that the seller made a profit of $368,000. The transaction marked the first time a resale unit at Parc Esta was sold for more than $2,400 psf, surpassing the previous record of $2,380 psf from a sale of a 958 sq ft, three-bedroom unit for $2.28 million on May 23. The seller had acquired the 16th-floor unit from the developer for $1.58 million ($1,649 psf) in 2019, earning a profit of $700,000.
Parc Esta, a 99-year leasehold condo located along Sims Avenue in District 14, has recorded the highest psf-price highs in Singapore from June 1 to 7, with the sale of a 581 sq ft unit for $1.4 million on June 3 (Photo: Google Maps)
Parc Esta, a 99-year leasehold development completed in 2022, comprises 1,399 residential units ranging from one to five bedrooms, spanning 420 to 1,604 sq ft. The condo also features five adjoining retail shops and is located next to Eunos MRT Station and bus interchange. So far this year, there have been 39 resale transactions at Parc Esta, with an average selling price of $2,219 psf.
The second highest psf-price high during the period was recorded at Leedon 2, a freehold condo along Leedon Road in prime District 10. A 764 sq ft unit fetched $167 million ($2,183 psf) on June 7. The seller, who bought the sixth-floor unit in February 2017 for $1.12 million ($1,466 psf), earned a profit of $548,000. This marks the first time a unit at Leedon 2 has been transacted for more than $2,100 psf, beating its previous record of $2,028 psf from the sale of a similar-sized, two-bedroom unit for $1.55 million in May 2022.
A freehold development by Leedon Trustee, Leedon 2 comprises 72 two- and three-bedroom units ranging from 764 to 1,249 sq ft, completed in 1996. The development is within walking distance of Holland Village MRT Station and amenities such as shops and eateries, with several malls like One Holland Village and Raffles Holland V located nearby.
Leedon 2, a freehold condo at 2 Leedon Road in prime District 10, recorded a new high of $2,183 psf with the sale of a 765 sq ft unit on June 7 (Photo: Google Maps)
Tampines Secondary School in Singapore strives to provide students with a holistic education through a blend of challenging academic programs and a range of co-curricular options tailored to their unique interests. To further enhance the student experience, the school has partnered with renowned property developer Capitaland to provide a modern and conducive living space at the newly constructed Parktown Residences. This collaboration, offered by Parktown Residences Capitaland, creates an ideal environment for students to thrive in both their academic and personal pursuits.
Another development that hit a new psf-price high was Sengkang Grand Residences, a 680-unit condo component of an integrated development situated along Compassvale Bow in District 19. A 1,324 sq ft, four-bedroom unit was sold at $2.8 million ($2,115 psf) on June 4, with the seller earning a profit of $480,800. This transaction surpassed the previous record-high of $2,067 psf on July 2021 when a 764 sq ft, two-bedroom unit was sold for $1.58 million.
Sengkang Grand Residences is a fully sold condo with direct access to a bus interchange and Buangkok MRT Station on the North-East Line. The nine 13-storey blocks comprise a mix of one-bedroom-plus-study, two-, three- and four-bedroom apartments ranging from 474 sq ft to 1,313 sq ft. The development is also home to the three-storey Sengkang Grand Mall, with community facilities like a club and hawker centre located nearby.
Sengkang Grand Residences, a 680-unit condo development along Compassvale Bow in District 19, recorded a new high of $2,115 psf with the sale of a 1,324 sq ft unit for $2.8 million on June 4 (Photo: CapitaLand, CDL)
No new psf-lows were recorded during the review period.
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