32 Gilstead topped the list of private non-landed properties to reach a new psf-price peak during the week of May 16 to 23. This comes with the developer sale of a 4,209 sq ft, four-bedroom unit for $15.1 million, or $3,588, on May 21.
Located in a residential enclave off Newton Road and Dunearn Road in prime District 11, 32 Gilstead has just 14 units in a five-storey block. The development only offers four-bedders, spanning 3,821 sq ft to 4,291 sq ft.
The new record at 32 Gilstead comes with the sale of a 4,209 sq ft, four-bedroom unit for $15.1 million on May 21. (Picture: Samuel Isaac Chua/The Edge Singapore)
To date, the project has seen ten units sold at an average price of $3,476 psf since it was launched in April last year, based on caveats lodged. The new record psf-price surpasses the previous high of $3,579 psf set last month when an adjacent 4,219 sq ft, four-bedroom unit on the fourth floor sold for $15.1 million on May 21. In terms of absolute price, both transactions mark the most expensive units at 32 Gilstead.
Slated for completion in 2027, the development is located within a short distance from Newton MRT Station on the Downtown Line. Nearby amenities include lifestyle hubs such as Balmoral Plaza, United Square Shopping Mall, and Goldhill Shopping Centre.
The Marbella was next on the list of condos that achieved a psf-price high. The new high was set on May 23 when a 1,625 sq ft unit on the tenth floor transacted for $4 million, or $2,461 psf.
This is the first time a unit at The Marbella has transacted above $2,400 psf. The new high overtakes the previous record set at the freehold development in April last year when a 1,475 sq ft, three-bedroom unit on the 19th floor changed hands for $3.5 million, or $2,373 psf.
The Marbella recorded a new high of $2,461 psf with the sale of a 1,625 sq ft unit for $4 million on May 23. (Picture: Samuel Isaac Chua/The Edge Singapore)
Completed in 2005, The Marbella is a freehold development located on Mount Sinai Rise, off Ulu Pandan Road in District 10. The condo houses three blocks between 22 and 24 storeys, with a total of 239 residences. It comprises a mix of two- to four-bedroom units, ranging from 1,076 sq ft to 4,284 sq ft.
Meanwhile, Koon Seng House recorded a new psf-price low during the week. A four-bedroom apartment spanning 1,313 sq ft on the third floor was sold by developers for $2.94 million on May 22, translating to $2,235 psf.
The transacted price falls below the boutique development’s previous low of $2,284 psf that came with the sale of a similar four-bedroom apartment for $3 million in April last year.
Koon Seng House recorded a new low of $2,235 psf with the sale of an 1,313 sq ft unit for $2.94 million on May 22. (Picture: Macly Group)
Since its launch in March last year, the freehold condo has sold nine units at an average price of $2,319 psf, based on caveats lodged with URA as of June 3. Including the unit sold on May 22, the developer has sold three units at Koon Seng House this year at an average price of $2,312 psf.
The development is located on Koon Seng Road in Geylang, in District 15. It comprises just 17 units, offering a mix of two- to four-bedroom apartments of 786 sq ft to 1,313 sq ft. Koon Seng House is expected to be completed in 2026.
