Scotts Tower One Bedder Hit Record Price Low 1828 Psf
A unit at The Scotts Tower has set a new low for psf-prices for the week of Sept 30 to Oct 7. The 657 sq ft one-bedroom unit on the 10th floor of the prime District 9 condo was sold for $1.2 million ($1,828 psf). This is the first time in almost five years that a unit at The Scotts Tower has transacted for less than $1,800 psf.
Previously, the lowest psf-price at the development was set in November 2020, when a 646 sq ft one-bedder on the ninth floor was sold for $1.2 million ($1,858 psf).
There have been a total of four resale transactions at The Scotts Tower so far this year, including the most recent sale on Oct 2. The transaction that set the previous psf-price low involved an 850 sq ft two-bedroom unit on the 10th floor, which was sold for $1.82 million ($2,140 psf) on Jan 13. This was followed by an 872 sq ft two-bedroom unit on the 20th floor that transacted for $1.9 million ($2,179 psf) on May 5. Most recently, another 872 sq ft two-bedder changed hands for $1.83 million ($2,099 psf) on Sept 18.
The Scotts Tower’s average psf-price has been on a downward trend for more than a decade, according to a compilation of resale caveats by EdgeProp Singapore. The 103-year leasehold project was launched for sale in December 2011 at an average price of $3,600 psf. However, prices have fallen to around $2,300 psf as of December 2021. Today, the average price at the condo is about $2,050 psf.
The Scotts Tower is a 231-unit, 31-storey condo located at the prestigious district of Scotts Road and Cairnhill Road. It is at a prime location, close to Newton and Orchard Road. The condo is also near to various iconic landmarks in the area, such as The Tanglin Club, The American Club, Goodwood Park Hotel, and Sheraton Towers Singapore.
Designed by well-known Dutch architect Ben van Berkel of UNStudio, The Scotts Tower is a “vertical city” with 128 apartments, including one- to three-bedroom apartments that range from 624 sq ft to 1,389 sq ft in size. There are also 20 three-bedroom penthouses and three four-bedroom penthouses that have sizes between 2,174 sq ft to 3,315 sq ft.
The second most expensive transaction for the week was a unit at Nassim Lodge. The 4,176 sq ft four-bedroom unit on the second floor sold for $14.5 million ($3,472 psf) on Oct 2, setting a new psf-price high for the development.
According to URA caveats, the sale of this unit is only the third recorded sale at Nassim Lodge. The previous transaction was in July 2002, when a first-floor 4,478 sq ft unit was sold for $10 million ($2,233 psf).
Nassim Lodge is a freehold development situated at 7 Nassim Road in District 10. It was completed in 1984 and comprises six 4-bedroom apartments and two four-bedroom penthouses.
There are a few other freehold developments in the vicinity that were built in the 1980s and are still standing today. The nearest is St Martin’s — an apartment block on 1 St Martin’s Drive off Tanglin Road. Based on caveats, the average price at St Martin’s is around $2,474 psf.
Other more recent luxury developments nearby include the 100-unit freehold Nassim Park Residences (completed in 2011), the 101-unit, 99-year leasehold 19 Nassim (completed in 2023) and the 14-unit freehold Les Maisons Nassim (completed in 2023).
In second place is the uncompleted Ardor Residence, which achieved a new high for psf-prices with the sale of a 1,292 sq ft unit for $3.33 million ($2,578 psf) on Sept 30.
Ardor Residence is a freehold boutique development by Chinese developer Nanshan Group. It is located on Haig Road in District 15. The 35-unit development launched for sale in March 2024. Only one unit was sold — a 980 sq ft three-bedroom unit that went for $2.41 million ($2,465 psf). Based on caveats, only four units were sold for the remainder of the year.
However, sales picked up significantly early this year, with the development selling around 21 units (60%) at an average price of $2,454 psf. The most expensive unit sold at Ardor Residence is a 1,518 sq ft unit on the third floor, which fetched $3.8 million ($2,510 psf) when it was sold on April 26.
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In the Tanjong Katong area, the sale of a 4,176 sq ft unit at Nassim Lodge topped a list of condos that set record psf-price highs during the week. The second-floor unit was transacted for $14.5 million ($3,472 psf) on Oct 2.
Based on URA caveats, there have only been three recorded transactions at Nassim Lodge to date. The previous recorded sale was a 4,478 sq ft unit on the first floor, which changed hands for $10 million ($2,233 psf) in July 2002.
Completed in 1984, Nassim Lodge is a freehold development located at 7 Nassim Road in prime District 10. It comprises six 4-bedroom units and two 4-bedroom penthouses.
There are several freehold developments in the area that were constructed in the 1980s and still stand today. The closest is St Martin’s — an apartment block located at 1 St Martin’s Drive off Tanglin Road. As per caveats, the average price at St Martin’s is around $2,474 per sq ft.
Other more recent luxury projects nearby are the 100-unit freehold Nassim Park Residences (completed in 2011), the 101-unit, 99-year leasehold 19 Nassim (completed in 2023) and the 14-unit freehold Les Maisons Nassim (completed in 2023).
In second place was the uncompleted Ardor Residence, which reached a new peak for psf-prices when a 1,292 sq ft unit was sold for $3.33 million ($2,578 psf) on Sept 30.
Ardor Residence is a freehold boutique project by Chinese developer Nanshan Group located on Haig Road in District 15. The 35-unit project was launched for sale in March 2014. Out of the 35 units, only one was sold — a 980 sq ft 3-bedroom unit that sold for $2.41 million ($2,465 psf). As per caveats, only four more units were sold for the rest of the year.
However, sales picked up significantly early this year, with the project selling around 21 units (60%) at an average price of $2,454 psf. The most expensive unit sold at Ardor Residence is a 1,518 sq ft unit on the third floor which went for $3.8 million ($2,510 psf) when it was sold on April 26.
In the Tanjong Katong area, a unit at Nassim Lodge set the highest psf-price for the week after a second-floor 4,176 sq ft four-bedroom unit transacted for $14.5 million ($3,472 psf) on Oct 2.
According to URA caveats, there are only three registered transactions at Nassim Lodge to date. The previous transaction took place in July 2022, where a 4,478 sq ft unit on the first floor was sold for $10 million ($2,233 psf).
Nassim Lodge is a freehold development located at 7 Nassim Road in District 10. It was completed in 1984 and consists of six 4-bedroom units and two 4-bedroom penthouses.
There are a few freehold projects in the area that were built in the 1980s and are still standing today. The closest is St Martin’s — an apartment block located at 1 St Martin’s Drive off Tanglin Road. According to caveats, the average price at St Martin’s is about $2,474 per sq ft.
Other more recent luxury projects in the area include the 100-unit freehold Nassim Park Residences (completed in 2011), the 101-unit, 99-year leasehold 19 Nassim (completed in 2023) and the 14-unit freehold Les Maisons Nassim (completed in 2023).
The second-most expensive transaction for the week was a unit at Ardor Residence, which set a new peak for psf-prices when a 1,292 sq ft unit sold for $3.33 million ($2,578 psf) on Sept 30.
Ardor Residence is a freehold boutique development by Chinese developer Nanshan Group located on Haig Road in District 15. The 35-unit project launched for sale in March 2014 and only managed to sell one unit — a 980 sq ft 3-bedroom unit that went for $2.41