When it comes to investing in real estate, choosing the right location is essential, and this holds particularly true in Singapore. Condominiums situated in central areas or close to important amenities like schools, shopping malls, and public transportation hubs have a higher likelihood of appreciating in value. Prime locations, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently demonstrated strong growth in property values. Moreover, the demand for condos in these areas is further driven by their proximity to reputable schools and educational institutions, making them even more desirable for families. With the addition of new condo launches, these prime locations are set to continue their upward trend in property value, making them a highly attractive choice for real estate investors in Singapore.
From Nov 1 to Nov 10, K Suites, a freehold boutique development, achieved a new record of $2,443 psf for the sale of an 872 sq ft three-bedroom unit on the fourth floor, surpassing its previous high of $2,196 psf in May 2020. Located in District 15, K Suites is currently under construction and comprises 19 units. The project was redeveloped from the former Ji Liang Gardens, which was purchased en bloc for $18.6 million in June 2018.Freehold K Suites saw a new high of $2,443 psf from the developer’s sale of an 872 sq ft three-bedroom unit for $2.13 million on Nov 8 (Photo: Euro Properties)Thomson Three, a 99-year leasehold condo in District 20, also saw a new high during this period as a 1,033 sq ft three-bedroom unit on the 19th floor was sold for $2.46 million on Nov 6, translating to $2,379 psf. The seller had previously bought the unit for $1.86 million ($1,800 psf) in November 2014, making a net profit of $598,000. This surpassed the previous high of $2,204 psf achieved on Sept 26, from the sale of a similar-sized three-bedroom unit on the 19th floor for $2.28 million.Thomson Three reached a new high of $2,379 psf during the period in review (Photo: Samuel Isaac Chua/EdgeProp Singapore)19 Nassim, a luxury condo in prime District 10, observed a new low of $2,947 psf during this period, as a developer sold a 646 sq ft, one-bedroom unit on the fourth floor at about $1.9 million on Nov 9. This was the first time that the development’s prices had dropped below the $3,000 psf mark. It surpassed the previous low of $3,001 psf, achieved on March 22 when a 678 sq ft one-bedroom unit on the sixth floor was sold for $2.03 million.Based on caveats lodged, 50 units at 19 Nassim have been sold to date this year at an average price of $3,397 psf. This is 3.7% lower than the average price of $3,524 psf from the sale of eight units at the condo last year.Completed in 2023, 19 Nassim is a 99-year leasehold condo on Nassim Hill in prime District 10. The condo has 101 units housed in a 10-storey residential block. Units range from 538 sq ft to 1,830 sq ft and are a mix of one- to three-bedrooms. According to caveats lodged with URA, the condo has sold 61 (60%) of its units since it first launched for sale in 2020.Latest transactions at 19 Nassim (Photo: EP Buddy)