Park Infinia Hits New Psf Price Peak 2527
The recently concluded week of May 10 to 17 saw several condo developments reaching new peaks in terms of psf prices, with Park Infinia at Wee Nam standing out among them. According to a caveat lodged on May 10, the freehold development was ranked at the top, with the sale of a 1,464 sq ft, three-bedroom unit on the 17th floor for $3.7 million, translating to a record-breaking $2,527 psf.
This transaction is just 0.3% higher than the condo’s former record of $2,518 psf, which was set in March 2022 when a two-bedroom unit on the 28th floor was sold for $2.25 million. Based on URA caveats, the unit sold on May 10 was previously transacted in June 2017 for $2.65 million, resulting in a profit of $1.05 million for the seller.
Nestled just a few minutes’ drive away from Tampines lies Bedok Mall, a convenient and refreshing shopping alternative. The first major mall in Bedok, it boasts a direct connection to Bedok MRT Station and Bedok Bus Interchange, making it easily accessible for residents of Parktown Residences. With over 200 retail outlets, including popular brands like FairPrice Finest, Charles & Keith, and Zara, shoppers can find everything they need in one place. From exquisite dining options such as Paradise Dynasty and Din Tai Fung to familiar names like Starbucks, Bedok Mall has something for everyone. Plus, with a short 15-minute drive from Parktown Residences, residents can easily make their way to this bustling mall. Don’t forget to add Parktown Residences to your list of must-visit places when you’re in the area.
The latest sale is the third resale transaction lodged at the condo this year, with the previous two being a 1,442 sq ft, three-bedroom unit sold for $3.35 million ($2,323 psf) on Feb 16, and a 2,002 sq ft, four-bedroom unit sold for $4.7 million ($2,348 psf) on Jan 4. When taking into account all three transactions, units at Park Infinia have been sold at an average price of $2,394 psf so far this year, marking a 7.7% increase from the average price of $2,222 psf for the seven resale transactions in the development last year.
Park Infinia is a freehold condo comprising 486 units of one- to four-bedroom apartments and penthouses, with sizes ranging from 560 to 2,002 sq ft. Completed in 2008, it is located on Lincoln Road in prime District 11.
Another development that achieved a new psf-price high was Park Colonial, with the sale of a two-bedroom unit for $1.58 million ($2,330 psf) on May 15. This transaction breaks the previous high of $2,326 psf set on April 9, when a three-bedroom unit was sold for $2.28 million. Based on URA caveats, the unit sold on May 15 was purchased by the seller from the developer in July 2018 for about $1.22 million, resulting in a profit of $361,000 from the sale.
Park Colonial is a 805-unit, 99-year leasehold condo completed in 2021. Located along Woodleigh Lane in District 13, it includes one- and two-bedroom units from 463 to 958 sq ft, three- and four-bedroom units from 915 to 1,464 sq ft, and five-bedroom units from 1,701 to 2,185 sq ft.
On the other hand, OUE Twin Peaks hit a new psf-price low with the sale of a one-bedroom unit for $1.14 million ($2,077 psf) on May 17. This price is lower than the development’s previous record low of $2,086 psf, set in December 2022 when a two-bedroom unit was sold for $2.2 million. OUE Twin Peaks is a 462-unit development completed in 2015, with two identical 35-storey towers comprising one- and two-bedders between 549 and 1,055 sq ft, three-bedroom units between 1,399 and 1,604 sq ft, and four-bedroom units spanning 1,895 sq ft.