8M Residences topped the list of private condos to hit a new psf-price peak in the week of Feb 1 to 7. The freehold development achieved a new high of $2,384 psf when a two-bedroom unit spanning 646 sq ft on the 15th floor was sold for $1.54 million on Feb 3. The sale marks the first time a unit at 8M Residences was sold for more than $2,300 psf.
The record-setting sale surpasses the previous peak of $2,261 psf set in April 2023 when a similar 646 sq ft, two-bedroom unit on the 11th floor was sold for $1.46 million.
8M Residences achieved a new high of $2,384 psf when a two-bedroom unit spanning 646 sq ft was sold for $1.54 million on Feb 3 (Photo: Samuel Isaac Chua / EdgeProp Singapore)
8M Residences recorded another transaction during the period in review that also surpassed the April 2023 record. On Feb 3, a 527 sq ft, one-bedroom unit on the 11th floor was transacted for $1.2 million ($2,275 psf).
In terms of absolute price, the most expensive unit to change hands at the development is a 1,841 sq ft, three-bedroom unit that fetched $2.85 million ($1,548 psf) when it was sold by developers in October 2012.
Resale data compiled by EdgeProp Singapore indicates that resale prices at 8M Residences have consistently risen the last few years. Based on a 12-month rolling average, the average price of units at the condo rose 7.3% over the last three years, from $2,028 psf in February 2022 to $2,177 in February 2025.
Completed in 2017, 8M Residences is a 20-storey residential tower with 68 units. The project has a mix of one- to three-bedroom units ranging from 517 to 1,421 sq ft. It also houses four penthouses ranging from 1,184 to 1,841 sq ft.
Completed last year, the 34-unit Kovan Jewel is a freehold condo with one- to three-bedroom units from 624 to 1,345 sq ft. (Photo: Samuel Isaac Chua / EdgeProp Singapore)
It is located within walking distance of EtonHouse International Research Pre-School along Mountbatten Road, Katong Swimming Complex along Wilkinson Road and Katong Park MRT Station along the Thomson-East Coast Line.
Meanwhile, the sale of a three-bedroom unit at Kovan Jewel, a boutique condo along Kovan Road in District 19, took second place on the list of condos that achieved a psf-price high. A 1,076 sq ft unit on the second floor was sold by the developer for $2.41 million on Feb 7, setting a new high of $2,236 psf.
The new record inches past the previous peak at Kovan Jewel set last August when a similar 1,076 sq ft, three-bedroom unit on the fourth floor fetched $2.4 million ($2,228 psf).
Completed last year, the 34-unit Kovan Jewel is a freehold condo with one- to three-bedroom units from 624 to 1,345 sq ft. There are also four-bedroom penthouses from 1,237 to 2,153 sq ft.
As of Feb 18, 17 units (50%) at Kovan Jewel have been sold at an average price of $2,11 psf, based on caveats lodged. Nine units were sold last year at an average price of $2,111 psf. The unit sold on Feb 7 is the first unit sold this year.
Oleanas Residence is a freehold condo located along Kim Yam Road in District 9. (Photo: Samuel Isaac Chua / EdgeProp Singapore)
Rounding out the top three on the list of condos that achieved a new psf-price high is boutique condo Oleanas Residence, where a 1,141 sq ft, three-bedroom unit on the sixth floor fetched $2.52 million on Feb 3. It sets a new record of $2,207 psf at the condo.
Previously, the highest transacted price at Oleanas Residence was $2,157 psf, from the sale of a 1,238 sq ft, three-bedroom unit for $2.67 million in August 2022. In terms of absolute price, the most expensive resale unit at the condo is a 1,636 sq ft, three-bedroom unit that fetched $3.3 million ($2,017 psf) in December 2022.
Oleanas Residence is a freehold condo located along Kim Yam Road in District 9. Completed in 1999, the condo recorded just four resale transactions in the last three years. The transactions ranged from $2.4 million ($2,103 psf) for a 1,141 sq ft, three-bedroom unit in November 2023 to $3.3 million ($2,129 psf) for a 1,550 sq ft, four-bedroom unit in April 2024.
The condo is within walking distance of two MRT Stations: Great World MRT Station on the Thomson-East Coast Line and Fort Canning MRT Station on the Downtown Line. Educational institutes within a 1km radius of the condo include River Valley Primary School along River Valley Green and Outram Secondary School along York Hill.
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