The decision to invest in a Singapore condo is gaining traction among both domestic and international investors, given the country’s strong economy, stable political climate, and exceptional quality of life. With a thriving real estate market, Singapore presents a wealth of opportunities for investors, with condos particularly standing out for their convenience, amenities, and promise of lucrative returns. This piece will delve into the advantages, factors to consider, and necessary measures to take when venturing into a Singapore condo investment. To aid in your search for the perfect condo, check out Singapore Condo.
Park Infinia at Wee Nam sold for $95 mil Profit $1.2 milResale prices of 99-year leasehold Sky Vue climb to new high of $1,934 psfThe Esta Takes Top Spot for New Psf-Price Highs in February 2021A unit at The Esta has achieved the highest psf-price for private condos in the period of February 21 to 28. The freehold development recorded a new price peak of $2,377 psf when a 1,001 sq ft unit changed hands for $2.38 million on Feb 26. The sellers of the seventh-floor unit purchased it for $1.83 million in March 2021, making a profit of approximately $545,000.The recent transaction eclipses the previous record price of $2,317 psf set in January last year when a 1,346 sq ft unit on the 13th floor was sold for around $3.2 million.Over the last three years, resale prices at The Esta have been on a steady increase. In 2022, the development recorded 10 transactions with an average psf-price of $2,012. The average price climbed to $2,156 across nine resale deals in the following year. Last year, another nine units were resold at an average price of $2,248 psf, reflecting an 11.7% increase in average resale prices since 2022.In terms of absolute price, the most expensive unit sold at The Esta was a 3,477 sq ft, five-bedroom apartment on the 21st floor, going for $6.25 million or $1,798 psf in October 2021.Apart from The Esta, other condos also achieved new high psf-prices in the review period. Citylights, a 99-year leasehold development in District 8, saw a 4.4% increase from the previous psf-price peak set in December last year. A 893 sq ft, two-bedroom unit on the 26th floor of Citylights changed hands for $1.98 million, or $2,216 psf, on Feb 27. The sellers purchased the unit for $1.44 million in April 2019, making a profit of approximately $542,000.D’Leedon, a 99-year leasehold development in District 10, also registered a new psf-price record of $2,287 when a 1,421 sq ft, three-bedroom unit on the 29th floor was sold for $3.25 million on Feb 25. The highest transaction recorded at the development was for a 2,110 sq ft, four-bedroom unit, going for $4.6 million, or $2,180 psf, in October last year.Since the start of the year, a total of 11 units have been sold at D’Leedon, with an average price of $2,065 psf. The lowest psf-price recorded in 2021 was for a 743 sq ft, one-bedroom unit on the 10th floor, selling for $1.41 million, or $1,898 psf, on Feb 13.The Esta is a freehold development comprising 400 units spread across five residential blocks along Amber Gardens. Completed in 2008, the project offers a range of two- to four-bedroom apartments, with sizes ranging from 1,001 sq ft to 1,711 sq ft, as well as penthouses ranging from 2,368 sq ft to 3,477 sq ft. The development is within walking distance of Tanjong Katong MRT Station on the Thomson-East Coast Line and is near lifestyle hubs such as Katong Shopping Centre and Katong V.In terms of unit type, a two-bedroom unit at The Esta was sold for $2.38 million on Jan 30, setting a new psf-price record of $2,377 for the freehold condo. D’Leedon, on the other hand, offers a mix of one- to four-bedroom units, spanning sizes from 592 sq ft to 6,534 sq ft. Completed in 2014, the condo development is just a stone’s throw away from Farrer Road MRT Station on the Circle Line and is also close to Empress Road Market and Food Centre.Citylights, a 600-unit 99-year leasehold development, is situated along Jellicoe Road in Kallang, District 8. Completed in 2007, the project offers a range of one- to four-bedroom units, with sizes ranging from 560 sq ft to 3,875 sq ft. The condo is a one-minute walk from Lavender MRT Station and is near dining and retail options such as Aperia Mall and Kitchener Complex.Overall, there were no new psf-price lows recorded during the period in review. This suggests that the private condo market remains resilient, with demand for high-end properties staying strong despite the current economic climate.