With The Arris leading the field, numerous properties in a noteworthy week for Singapore’s condominium market from July 26 to 30 set record-breaking per- square- foot (psf) pricing. When a 990 square foot, two-bedroom apartment sold for $2.38 million, this freehold boutique condo in District 2 raised a new bar of $2,398 psf. Having bought this second-floor apartment just 17 months ago for $1.87 million ($1,888 psf), the vendor made a significant profit of $505,000.
With 87% of the 63-unit Arris on Yan Kit Road having sold since its 2021 opening, demand for this development is great. Its attractiveness most likely comes from its great position close to Cantonment Primary School and the energetic Tanjong Pagar neighbourhood.
The Panorama in Ang Mo Kio’s District 20 received also remarkable improvements. Selling a 1,012 square foot, three-bedroom apartment for $2.18 million brought it to a fresh high of $2,155 psf. Having bought this 13th-floor flat in May 2015, the vendor discovered a notable profit of $910,688. From an average of $1,901 psf in 2022, this 99-year leasehold condo has shown consistent gain; 17 resale transactions thus far in 2023 average $1,980 psf. The Panorama’s appeal to purchasers is improved by its close proximity to respectable universities and Mayflower MRT Station.
Verdale, in the premium District 21, also made the list of record-breakers with a fresh high of $2,041 psf. Selling a 1,012 square foot, three-bedroom apartment for $2.07 million garnering the seller a profit of $315,101 since buying from the developer in September 2020, helped this be done.
Currently entirely sold, this 99-year leasehold construction has seen four transactions in 2023 with an average price of $2,011 psf. Particularly in good locations and well-placed buildings, these record-breaking sales across several areas indicate the continuing strength and durability of Singapore’s high-end condominium market. The trend points to ongoing investor trust in Singapore’s real estate market even as it adjusts to fit evolving economic times.