Freehold condo Gallop Gables topped the list of condos that saw new psf-price highs between May 2 and May 9. The condo’s latest price peak of $2,354 psf stemmed from the sale of a 1,733 sq ft three-bedroom unit on the third floor that changed hands for $4.08 million on May 8.
The May 8 transaction beats Gallop Gable’s previous psf-price high of $2,299 psf set in November of last year when a 2,669 sq ft, four-bedroom unit on the second floor sold for about $6.14 million. In terms of absolute price, the unit sold in November 2024 was also the priciest unit to change hands at the development.
Completed in 1997, Gallop Gable is a 102-unit low-density condo located along Farrer Road (Photo: EdgeProp Singapore)
The unit sold on May 8 is the only resale transaction recorded at the condo so far this year. Last year, the project saw three units sold at an average price of $2,149 psf. It marks a 16% y-o-y increase in average price from the $1,987 psf recorded in 2023 across four resale transactions.
Completed in 1997, Gallop Gable is a 102-unit low-density condo located along Farrer Road in prime District 10. It houses a mix of two- to four-bedroom units ranging from 1,130 sq ft to 3,412 sq ft. The condo is within walking distance of Farrer Road MRT Station on the Circle Line.
Several notable primary schools are also located within a 2km radius of the property, such as Nanyang Primary School, New Town Primary School and Raffles Girls’ Primary School.
Penrose is a 566-unit 99-year leasehold condo located along Sims Drive in District 14 (Credit: Developments Limited)
Meanwhile, the sub-sale of a 980 sq ft, three-bedroom unit at Penrose placed the development next on the list of condos that saw new price highs during the week in review. The 18th floor unit fetched about $2.29 million on May 9, resulting in a new price peak of $2,337 psf at the development.
The new record narrowly inches past the previous record of $2,293 psf set on Feb 12 when a larger 1,055 sq ft, three-bedroom unit on the fifth floor was sold for about $2.42 million.
The condo has recorded 45 such sub-sale transactions so far this year, with prices averaging at $2,141 psf. It marks a 4% y-o-y in prices from 2024, which saw 102 sub-sale transactions at an average price of $2,057 psf.
Developers successfully sold all 566 units in April 2022, almost two years after the September 2020 launch of the project at an average price of $1,609 psf. Prices at Penrose have been steadily increasing since.
In 2023, a year after selling out, the condo recorded 12 sub-sale transactions at an average price of $1,910 — showing an 18.7% spike over launch prices. It is the steepest y-o-y rise in price recorded at the condo to date.
Developed jointly by City Developments and Hong Leong Holdings, Penrose is a 566-unit 99-year leasehold condo located along Sims Drive in District 14. It houses a mix of one- and two-bedroom units spanning 474 sq ft to 807 sq ft and three- and four-bedroom units spanning 936 sq ft and 1,399 sq ft.
The condo is within walking distance of Aljunied MRT Station along the East-West Line and has easy access to the nearby Kallang Paya Lebar Expressway (KPE) via the Aljunied West Flyover.
Primary schools within the area include Cedar Primary School, Kong Hwa School, Canossa Catholic Primary School, Geylang Methodist Primary School and Bendemeer Primary School.
Willyn Ville is a 37-unit development located along Holland Avenue in prime District 10 (image: Google Streetview)
Rounding off the top three condos to reach new price highs is freehold project Willyn Ville. The development hit a new price peak of $2,139 psf when a 926 sq ft, two-bedroom unit on the third floor sold for $1.98 million on May 5.
The new record is a 13.9% mark-up from the previous high of $1,878 psf. The freshly dethroned record was first set in September 2023 when a 1,518 sq ft, four-bedroom unit on the second floor changed hands for $2.85 million. The unit sold on May 5 is also the only unit sold since September 2023.
Willyn Ville is a 37-unit development located along Holland Avenue in prime District 10. Completed in 1982, the condo comprises two-bedroom units of 861 sq ft to 926 sq ft and four-bedroom units of 1,518 sq ft to 1,755 sq ft.
The condo is located next to Holland Village MRT Station along the Circle Line and across the street from several dining and retail options at Holland Village and the nearby One Holland Village mall.
There were no new psf-price lows recorded during the period in review.
