When purchasing a condominium, it is crucial to also take into account the maintenance and management of the property. Condos usually require maintenance fees to cover the expenses of maintaining shared areas and amenities. Although these fees may increase the overall cost of owning a condo, they also guarantee that the property stays well-maintained and maintains its value. Investors can make their investment more passive by enlisting the services of a property management company to handle the daily management of their condos. Additionally, investing in Singapore Projects can be a great opportunity for condo investors.
EDGEPROP – In the period of 10th to 21st November, Hill House, a boutique development, has been recorded with the highest psf-price of $3,267. A fifth-floor 452 sq ft unit comprising of two bedrooms sold at a new record of $1.48 million on the 11th of November by the developer. Just 0.1% higher than the previous record of 2013, a two-bedroom unit with an area of 624 sq ft was sold at $2.04 million on the 9th floor. With an average psf price of $3,098, 11 transactions were made this year at Hill House and is a 0.9% decrease from the average price of $3,127 psf from the five transactions made last year. Hill House, a 999-year leasehold condo, is situated at the peak of Institution Hill situated off River Valley Road within the prime District 9. This boutique development contains 72 units whereby 40 units are either one or one-bedroom plus study units with a size ranging from 431 sq ft to 452 sq ft. Another 24 units are two-bedroom units with an area of 624 sq ft which comprises of eight remaining three-bedroom apartments with an area of 753 sq ft. Based on URA caveats, with a total of 29 units (40%) sold since the launch in November 2022, with an average price of $3,060 psf, Hill House is currently under construction with an expected completion in third-quarter 2026. In the second place, The Continuum, a freehold condo, has recorded a new psf-price high of $3,084 during the reviewed period. A two-bedroom 721 sq ft unit on the 17th floor was sold at $2.22 million on the 16th of November, marking a 0.4% higher than the previous record of $3,071. A 721 sq ft two-bedroom unit on the 16th floor was sold at $2.22 million on the 15th of November, this unit is in the previous record of The Continuum. This freehold condo is situated on Thiam Siew Avenue, in District 15, located off Haig Road and Tanjong Katong Road. The development launched last April with 816 units across six residential towers on two plots of land, constructed with a private pedestrian overhead bridge. The units in the development are a combination of one to five-bedroom apartments with an area between 560 sq ft to 2,260 sq ft. Based on URA caveats, 489 units (59.8%) have been sold with an average price of $2,779 psf since the launch of the development in May 2023. The Continuum is currently under construction and is expected to complete by 2026. Moving on, Lavender Residence, a freehold boutique development, has recorded a new psf-price low in the period of review. A 990 sq ft one-bedroom + studio unit on the second floor was sold at $1.61 million on the 17th of November, reflecting a psf-price of $1,626. Whereas the previous psf-price low was $1,710 psf, when a four-bedroom unit with an area of 1,335 sq ft, was sold at $2.28 million in June 2023. After the sale on 17th November, Lavender Residence is now fully sold with an average price of $1,984 psf. Lavender Residence is a 17-unit development which stands at the junction Lavender Street and Kempas Road. This development is in Boon Keng of District 12 and is built on a land with a trio of two-storey conservation shophouses that were built in the art-deco style of the 1940s. The units in the development are a mix of studios to three-bedroom units, with some dual-key variants with an area between 463 sq ft to 1,550 sq ft. The development is within walking distance of Bendemeer MRT Station on the Downtown Line.