Record Price High 2697 Psf Set Stirling Residences
The purchase of a two-bedroom unit at Stirling Residences has set a new record for the highest psf price at the 99-year leasehold condominium. The unit, located on the 25th floor and measuring 678 sq ft, was sold for $1.83 million on Sept 18, translating to a psf price of $2,697. This sale has also made it to the list of highest psf-price transactions from Sept 12 to 23, with no new lows recorded.
The previous psf-price record at Stirling Residences was also for a two-bedroom unit of the same size, but located on the 39th floor, which was sold for $1.82 million ($2,681 psf) in July 28. The highest absolute price paid for a unit at Stirling Residences so far is for a four-bedroom unit of 1,346 sq ft on the 22nd floor, which was sold for $3.55 million ($2,638 psf) last December.
Stirling Residences is a 1,259-unit development on Stirling Road in District 3. Developed jointly by Chinese developer Nanshan Group and Hong Kong-listed property developer Logan Holdings, the project was launched for preview over the June 30-July 1 weekend in 2018. However, the preview period was cut short after the government announced new property cooling measures on July 5, which took effect the following day.
Despite the sudden cooling measures, close to 200 units were sold at Stirling Residences that night, with an average selling price of $1,800 psf. Another project that was launched that night was Park Colonial, a 805-unit development in District 13, which saw over 300 units sold overnight at an average price of $1,700 psf.
Despite the unexpected cooling measures, Stirling Residences continued to see steady sales over the next few months and was fully sold in June 2022. Based on data from EdgeProp Singapore, the average psf price at Stirling Residences today is approximately $2,380 psf.
In a separate transaction, a two-bedroom unit at Angullia Park Residences @ Orchard set a new psf-price record at the freehold condo when it was sold for $2.5 million ($2,670 psf) on Sept 12. The previous record was held by a three-bedroom unit of 1,001 sq ft on the 13th floor, which was sold for $2.65 million ($2,647 psf) in March 2022.
The sale of this two-bedroom unit at Angullia Park Residences @ Orchard has set a new psf-price record at the freehold condo. There have been three resale transactions at the luxury condo this year, with the other two units sold at $2.45 million ($2,616 psf) and $2.15 million ($2,296 psf) in August.
Angullia Park Residences @ Orchard is a 46-unit luxury condo on Cuscaden Walk in prime District 10. Completed in 2010, it comprises two- and three-bedroom units of 936 sq ft to 1,603 sq ft, as well as three penthouses of 1,905 sq ft to 1,948 sq ft.
According to EdgeProp Singapore, prices at Angullia Park Residences @ Orchard have increased from $2,060 psf in September 2017 to $2,350 psf in September 2020. The average price currently stands at $2,530 psf.
The second runner-up on the list of projects with record psf-price transactions this week is Parc Esta, where a four-bedroom unit of 1,227 sq ft on the 11th floor was sold for $3.16 million ($2,575 psf) on Sept 12. The previous record was held by a three-bedroom unit of 1,119 sq ft on the 13th floor, which was sold for $2.85 million ($2,547 psf) in December last year.
This sale has also set a new record for the highest absolute price paid for a unit at Parc Esta. The previous record was held by a five-bedroom unit of 1,399 sq ft on the 13th floor, which was sold for $3 million ($2,144 psf) in December 2022.
Parc Esta is a 1,399-unit development on Sims Avenue in District 14. Completed in 2022, the development comprises nine 18-storey residential towers with a mix of one- to five-bedroom units ranging from 420 sq ft to 1,475 sq ft.
The project was launched in November 2018 and achieved sales of 235 units (16%) in its first month. It was fully sold by April 2022. According to caveats, the average psf price at Parc Esta is approximately $2,270 psf.
One of the most appealing aspects of Parktown Residence is its prime location near Tampines North MRT Station, an upcoming hub along the highly anticipated Cross Island Line (CRL). With this station in close proximity, residents will have convenient access to the heart of the city, Jurong Lake District, and Changi Airport, making it effortless to reach major employment and leisure destinations. Moreover, the Downtown Line station is also nearby, providing even more seamless connectivity within the estate. You can also take a look at the Parktown Residence Showflat for a better understanding of the development.