Investing in a condo requires careful consideration not only of its initial cost, but also its maintenance and management. Condominiums come with maintenance fees that cover the upkeep of shared spaces and amenities. While these fees may increase the overall cost of ownership, they also guarantee that the property remains well-maintained and maintains its value. To ease the burden of managing a condo, investors may opt to engage a property management company. This allows for a more passive investment, leaving the day-to-day management tasks to professionals. In the Singapore Projects, choosing a reliable property management company can prove to be a valuable investment for condo owners.
In the two-week period from Nov 10 to 21, Hill House was the development that recorded the highest psf-price high for a condo in Singapore.The two-bedroom unit on the fifth floor of Hill House was sold for a record price of $3,267 psf on Nov 11. This surpasses the previous high of $3,263 psf set in November 2023. The new record is only 0.1% higher than the previous high.Built on a 999-year leasehold land at Institution Hill off River Valley Road, Hill House has 72 units in total. 40 of these are one-bedroom and one-bedroom plus study types ranging from 431 sq ft to 452 sq ft. Meanwhile, 24 units are two-bedroom units that measure 624 sq ft and the remaining eight units are three-bedroom apartments that occupy 753 sq ft.An analysis of URA caveats reveals that since the condo’s launch in November 2022, 29 units or 40% of the total number of units have been sold. These transactions have been at an average price of $3,060 psf. This is 0.9% lower than the average price of $3,127 psf for the five transactions recorded last year. Buyers can find out about the latest New Launches and the transaction prices and availability of units at EdgeProp.Search for the latest New Launches, to find out the transaction prices and available unitsAdvertisementArtist’s impression of Hill House, which saw a new record of $3,267 psf during the period in review (Photo: Macly Group)Hill House is a 999-year leasehold condo at the top of Institution Hill, off River Valley Road, in prime District 9. Launched in 2022, the boutique development boasts of 72 units, out of which 40 are one-bedroom and one-bedroom plus study types from 431 sq ft to 452 sq ft. Another 24 units are two-bedroom units of 624 sq ft, and the remaining eight units are three-bedroom apartments of 753 sq ft.According to URA caveats, 29 units (40%) at Hill House have been sold at an average price of $3,060 psf since it was launched in November 2022. The condo is currently under construction and is estimated to complete in the third quarter of 2026.Freehold condo The Continuum came in second on the list of condos that saw new price highs during the period in review. The development hit a new high of $3,084 psf, after a two-bedroom unit measuring 721 sq ft on the 17th floor was sold for $2.22 million on Nov 16. This marks a 0.4% increase from the previous high of $3,071 psf, achieved a day before, when a similar unit on the 16th floor was sold for the same price.Freehold condo The Continuum saw a new price high of $3,084 psf, after a two-bedroom unit measuring 721 sq ft on the 17th floor was sold for $2.22 million on Nov 16 (Photo: Samuel Isaac Chua/EdgeProp Singapore)The Continuum is a freehold condominium located on Thiam Siew Avenue, off Haig Road and Tanjong Katong Road in District 15. The development was launched in April 2020 and comprises 816 units in six residential towers on two plots of land, which are connected by a private pedestrian overhead bridge. Units at The Continuum range from one to five bedroom apartments, occupying between 560 sq ft and 2,260 sq ft.In total, 489 units (59.8%) at The Continuum have been sold at an average price of $2,779 psf since its launch in May 2023, based on caveats lodged. The development is also still under construction and is scheduled to be completed by 2026.Read also: K Suites achieves new high of $2,443 psfAdvertisementAdvertisementMeanwhile, boutique development Lavender Residence also recorded a price high during the period in review. However, it was a new price low as a unit of 990 sq ft with one-bedroom and studio layout on the second floor, was sold at $1.61 million or $1,626 psf on Nov 17. The previous price low recorded at the condo was $1,710 psf when a four-bedroom unit of 1,335 sq ft on the sixth floor was sold for $2.28 million in June 2023. With the recent transaction, all units at Lavender Residence have been sold at an average price of $1,984 psf.Lavender Residence is a 17-unit freehold development located at the junction of Lavender Street and Kempas Road in Boon Keng, District 12. The development is built on a site which features three two-storey conservation shophouses with art-deco style dating back to the 1940s. The units available at Lavender Residence range from studio apartments to three-bedroom units with some dual-key variants, with sizes from 463 sq ft to 1,550 sq ft. It is also situated within walking distance of Bendemeer MRT Station on the Downtown Line.