The sale of a four-bedroom unit at Volari, a freehold condo in prime District 10, topped the list of developments that set new psf-price highs over the week of May 30 to June 6. The 2,174 sq ft unit on the fourth floor at Volari fetched $6.08 million ($2,796 psf) when it was sold on June 3.
This psf price beats the previous high of $2,690, which was set in March when another 2,174 sq ft four-bedder on the ninth floor changed hands for $5.85 million. On the other hand, the most expensive unit sold at Volari, in terms of absolute price, is a four-bedroom unit on the 12th floor that was sold for $10 million ($1,621 psf) back in December 2012.
Volari is an 85-unit development on Balmoral Road. The development was completed in 2012 and has a mix of typical two- to four-bedroom units of 1,324 sq ft to 3,950 sq ft. Based on caveats compiled by EdgeProp Singapore, resale prices at Volari have risen over the past few years, moving up from $2,035 psf in June 2015 to about $2,590 psf this month.
The sale of a 2,174 sq ft four-bedder at Volari set a record psf-price high of $2,796 psf at the condo. (Picture: Samuel Isaac Chua/The Edge Singapore)
The newest project in the neighbourhood is Sloane Residences, a neighbouring 52-unit development also on Balmoral Road. The project was completed in 2022 and has since set an average resale price of $2,920 psf. Other nearby condos include Goodwood Grand ($1,135 psf), Balmoral 8 ($2,025 psf) and Ventuno Balmoral ($1,605 psf).
Meanwhile, the sale of a three-bedroom unit at La Maison set the second-highest psf-price high during the week in review. The 1,259 sq ft unit, on the eighth floor, was sold for $2.55 million ($2,025 psf) on June 6. The new psf-price record is marginally higher than the previous high, which was set last January when a 1,270 sq ft unit on the 12th floor transacted for $2.56 million ($2,016 psf).
The record-setting transaction at La Maison is the only resale recorded at the condo so far this year, but there were four resale transactions lodged last year. The sales last year range from a 1,259 sq ft unit that transacted for $2.48 million ($1,969 psf) on March 4, to a 1,291 sq ft unit that fetched $2.53 million ($1,959 psf) when it was sold last May.
La Maison is a freehold condo on Moulmein Rise in prime District 11. Completed in 1999, the 24-unit development comprises three- and four-bedroom units of 1,259 sq ft to 3,854 sq ft. Based on compiled caveats, resale prices at La Maison have climbed in recent years from about $860 psf in June 2002 to close to $2,000 psf this month.
The development is next to the planned HealthCity Novena, a 17ha integrated healthcare hub between Moulmein Road and Irrawaddy Road. The hub is centred around Tan Tock Seng Hospital, Ren Ci Hospital, specialist centres such as the National Infectious Diseases, National Neuroscience Institute, and academic institutes like the Lee Kong Chian School of Medicine.
Le Maison is also in proximity to Novena MRT station on the North-South Line, as well as the nearby shopping centres including Square 2, Velocity @ Novena Square, and United Square. Two primary schools are within 1km of La Maison – Farrer Park Primary School and St Joseph’s Institution Junior.
Another project that topped the list of psf-price highs during the week is Affinity @ Serangoon, where a 1,076 sq ft three-bedroom unit was sold for $2.15 million ($1,997 psf) on June 6. This was higher than the previous record psf-price at the condo when a 904 sq ft three-bedder fetched $1.8 million ($1,991 psf) when it was sold in October 2023.
Affinity @ Serangoon is a 99-year leasehold condo along Serangoon North Avenue 1 in District 19. The mega development, which was completed in 2023, consists of 1,012 condo units with a mix of one- to four-bedroom units, and 40 strata landed houses. Typical condo units range from 474 sq ft to 1,711 sq ft, penthouses of 1,550 sq ft to 1,701 sq ft, while the townhouses are of 2,056 sq ft to 2,347 sq ft.
The record psf-price high of $1,997 psf was set at Affinity @ Serangoon on June 6. (Picture: Samuel Isaac Chua/The Edge Singapore)
There have been 46 recorded transactions at Affinity @ Serangoon so far this year, and resale prices have ranged from $2.16 million ($1,882 psf) when a 1,152 sq ft three-bedder was sold on April 25 to $790,000 ($1,668 psf) when a 474 sq ft one-bedroom unit transacted on May 13.
At approximately $1,780 psf, the average resale price at Affinity @ Serangoon is close to the nearby 99-year leasehold condos in the vicinity, such as The Garden Residences, a 613-unit development at Serangoon North View, where the resale price is about $1,815 psf. The Terrasse, a 414-unit condo along Terrasse Lane off Hougang Ave 2, is another 99-year leasehold project in the area with an average resale price of $1,570 psf.
Based on URA’s OneMap, Affinity @ Serangoon is within 1km of Rosyth School and Zhonghua Primary School. Other schools in the vicinity include CHIJ Our Lady of Good Counsel, Xinmin Primary School, Peicai Secondary School, Serangoon Garden Secondary School and Bowen Secondary School.
