The sale of a three-bedroom unit at Parc Clematis topped the list of condos that achieved a new psf-price high between June 6 and June 13. The 1,044 sq ft unit on the sixth floor was sold for $2.6 million on June 9, setting a new psf-price record of $2,490 psf at the development.
The latest price surpasses the previous high of $2,394 psf set earlier this year when a similar three-bedder on the eighth floor transacted for $2.5 million on March 12. In terms of absolute price, the most expensive unit at Parc Clematis was a 2,605 sq ft, five-bedroom penthouse that fetched $4.18 million ($1,605 psf) when it was sold by developers in September 2022.
The new record at Parc Clematis comes with the sale of a 1,044 sq ft, three-bedroom unit for $2.6 million on June 9. (Photo: Samuel Isaac Chua /The Edge Singapore)
Completed in 2023, Parc Clematis is a 99-year leasehold mega condo development along Jalan Lempeng in Clementi. It houses 1,450 units across nine 24-storey tower blocks, which include 452 sq ft one-bedroom units and five-bedroom penthouses of up to 2,669 sq ft. The District 5 development also offers six two-storey strata bungalows from 2,659 sq ft and 12 two-storey, strata terraced homes spanning 3,832 sq ft each.
This year, Parc Clematis has seen 41 resale transactions as of June 13, with the units transacted at an average price of around $2,132 psf.
The development is close to educational institutions such as Clementi Primary School, Nan Hua Primary School and Clementi Town Secondary School.
Meanwhile, the sale of a one-bedroom unit at The Cornwall, a freehold condo along Cornwall Gardens in prime District 10, was next on the list of deals that resulted in a new psf-price high. The 614 sq ft unit on the first floor sold for $1.45 million on June 11. The sale set a new psf-price high of $2,363 psf for the development.
This overtakes the previous record at The Cornwall, which was established almost three years ago when a 657 sq ft, one-bedroom apartment on the fifth floor changed hands for $1.46 million ($2,224 psf) in December 2022.
The Cornwall recorded a new high of $2,363 psf with the sale of a 614 sq ft, one-bedroom unit for $1.45 million. (Photo: Samuel Isaac Chua /The Edge Singapore)
The Cornwall is a 99-unit development off Holland Road built in 2005. Units consist of one- to four-bedroom apartments from 614 sq ft to 2,551 sq ft.
Coming in third on the list of condos that achieved a new psf-price high is 1 Moulmein Rise in Novena, where a 1,238 sq ft, three-bedroom unit on the 17th floor changed hands for $2.84 mil on June 9. This set a new psf-price high of $2,296 psf.
It beats the previous record of $2,262 psf, when a similar three-bedder on the 24th floor fetched $2.8 million on Jan 27. In terms of absolute price, the most expensive resale unit at 1 Moulmein Rise to date is a 3,886 sq ft, four-bedroom duplex penthouse that transacted for $4.8 million ($1,235 psf) back in May 2012.
1 Moulmein Rise is a freehold development in prime District 11. Completed in 2003, the development houses 50 units within a single 26-storey block. It is within walking distance to Novena MRT Station and lifestyle hubs as Square 2 and Velocity @ Novena Square.
1 Moulmein Rise saw a new high of $2,296 psf when a 1,238 sq ft unit changed hands for $2.84 million on June 9. (Photo: Samuel Isaac Chua /The Edge Singapore)
Based on a tabulation of caveats by EdgeProp Singapore, 1 Moulmein Rise commands one of the highest average resale prices among most freehold condos in the area. Units at the condo transacted at an average price of $2,279 psf over the last 12 months.
In comparison, nearby freehold condos such as the 24-unit La Maison and the 49-unit City Edge on Moulmein Rise have average transacted prices of $2,025 psf and $1,997 psf, respectively, while the 37-unit Apleton View on Sinaran Drive has an average price of $1,834 psf.
No new psf-price lows were recorded during the period under review.
