Fyve Derbyshire sets new psf-price record of $2,723 psf

Fyve Derbyshire topped the list of private non-landed properties to reach a new psf-price peak from June 13 to June 20. The freehold development hit its new price high of $2,723 psf on June 18 when it recorded the sale of a 936 sq ft, three-bedroom unit on the 18th floor for $2.55 million. 

The new record surpasses the previous high of $2,696 psf, which was established in August 2022 when a 657 sq ft, two-bedroom unit on the 19th floor was sold by developers for about $1.77 million. In terms of absolute price, the June 18 transaction also marks the most expensive unit ever sold at Fyve Derbyshire. It trumps the previous high when a similar 936 sq ft, three-bedroom unit was sold for $2.18 million ($2,329 psf) in April 2019. 

The new record at Fyve Derbyshire comes with the sale of a 936 sq ft, three-bedder for $2.55 million on June 18. (Photo: Google Streetview)

Completed in 2024, Fyve Derbyshire features two- and three-bedders ranging from 560 sq ft to 936 sq ft. Located on Derbyshire Road in Novena, the District 11 development is within a 10-minute walk to Novena MRT Station on the North-South Line and is connected to Velocity @ Novena Square. Lifestyle hubs such as United Square shopping mall and Novena Medical Center are also within walking distance.

Meanwhile, the sale of a three-bedroom unit at The Tresor set the second-highest psf price during the week in review. The 1,399 sq ft unit on the second floor was sold for $3.74 million ($2,671 psf) on June 17. The new psf-price record is marginally higher than the previous high, which was set on Feb 10 when a 1,421 sq ft unit on the fifth floor transacted for $3.73 million ($2,625 psf). 

The Tresor is a 62-unit development located on Duchess Road in District 10. Completed in 2007, the 999-year leasehold development comprises a mix of two-, three- and four-bedroom apartments spanning 990 sq ft to 2,896 sq ft. 

The development is located just a five-minute walk from Tan Kah Kee MRT Station on the Downtown Line, and is within walking distance of Coronation Shopping Plaza and Serene Centre. 

 The Tresor recorded a new high of $2,671 psf with the sale of a 1,399 sq ft unit for $3.74 million. (Photo: Samuel Isaac Chua/The Edge Singapore)

This year, The Tresor has seen four resale transactions to date, with the units changing hands at an average price of around $2,609 psf. The development also commands one of the highest average resale prices among freehold and 999-year leasehold condos in the immediate vicinity. For example, based on URA caveats from the last 12 months, the nearby 52-unit Duchess Manor has an average selling price of $2,359 psf, while the 26-unit Dunearn Suites has seen its resale units transact for about $2,232 psf. 

99-year leasehold development Marina One Residences saw a new psf-price low during the period in review. The new psf-price floor came from the resale of a 1,055 sq ft, two-bedroom unit on the 17th floor for $2 million on June 16. The price translates to $1,896 psf. 

The June 16 transaction surpasses the development’s previous psf-price low of $1,943 psf when a 764 sq ft, one-bedder fetched about $1.49 million in April 2021. 

Marina One Residences saw a new low of $1,896 psf when a 1,055 sq ft, two-bedroom unit changed hands for $2 million on June 16. (Photo: Samuel Isaac Chua/The Edge Singapore)

Completed in 2017, Marina One Residences is a 1,042-unit development located on Marina Way in District 1. It features two 32-storey towers, comprising a mix of one- to four-bedroom apartments of 657 sq ft to 8,078 sq ft. 

The week also recorded the developer sale of a 5,285 sq ft, five-bedroom unit at Skywaters Residence, which fetched $30.87 million ($5,841 psf) when it was sold on June 19. The unit sold marks only the second recorded transaction at the development since the ultra-luxury project was launched last year.

The first occurred just over a year ago when a 7,761 sq ft penthouse at the development was sold for $47.34 million ($6,100 psf) last May. It set the record for the highest psf price achieved for a 99-year leasehold residential development in Singapore.

Skywaters Residences is the 190-unit residential component of The Skywaters. A redevelopment of the former AXA Tower in Tanjong Pagar, The Skywaters is a 63-storey mixed-use development including offices and a hotel. The project is scheduled for completion in 2028.

Skywaters Residences spans from the 27th to the 63rd floors of the development. Apartments range from three to five bedrooms, ranging from 2,217 sq ft to 6,512 sq ft. There are also eight penthouses from 7,651 sq ft to 18,794 sq ft.