A two-bedroom unit at The Esta topped the list of private condos that achieved a new psf-price high from Feb 21 to 28. The freehold development hit its new price peak of $2,377 psf when a 1,001 sq ft unit changed hands for $2.38 million on Feb 26. The seventh-floor unit’s sellers purchased it for about $1.83 million, or $1,833 psf, in March 2021, making a profit of about $545,000.
The latest transaction surpasses the project’s previous record price of $2,317 psf when a 1,346 sq ft, three-bedroom unit on the 13th floor changed hands for around $3.2 million in January last year.
The average resale price of condo units at The Esta has risen steadily over the past three years. In 2022, the project recorded 10 transactions with an average psf-price of $2,012. The following year, the average price climbed to $2,156 across nine resale transactions. Last year, another nine units were resold at an average price of $2,248 psf, reflecting an 11.7% increase in average resale prices since 2022.
By absolute price, the most expensive unit sold at The Esta was a 3,477 sq ft, five-bedroom apartment on the 21st floor, which changed hands for $6.25 million, or $1,798 psf, in October 2021.
A two-bedroom unit at The Esta was sold for $2.38 million on Jan 30, setting a new psf-price record of $2,377 for the freehold condo (Picture: Samuel Isaac Chua/The Edge Singapore)
The Esta is a 400-unit development spread across five residential blocks along Amber Gardens. Completed in 2008, this District 15 condo features a range of two- to four-bedroom apartments, from 1,001 sq ft to 1,711 sq ft, as well as penthouses ranging from 2,368 sq ft to 3,477 sq ft. It is within walking distance of Tanjong Katong MRT Station on the Thomson-East Coast Line and is near lifestyle hubs such as Katong Shopping Centre and Katong V.
The 99-year leasehold condo D’Leedon claimed second place for the highest new psf-prices recorded during the review period. The development set a new psf-price record of $2,287 when a 1,421 sq ft, three-bedroom unit on the 29th floor sold for $3.25 million on Feb 25.
The transaction slightly surpassed the sale of a smaller 1,367 sq ft, three-bedroom unit, which sold for $3.04 million or $2,222 psf on Feb 26. Prior to these sales, the record price at D’Leedon stood at $2,180 psf, set by the sale of a 2,110 sq ft, four-bedroom unit for $4.6 million last October.
Since the start of the year, 11 units have been sold at the development, with an average price of $2,065 psf. The lowest psf-price recorded this year was for a 743 sq ft, one-bedroom apartment on the 10th floor, which sold for $1.41 million ($1,898 psf) on Feb 13.
On Feb 25, a 1,421 sq ft, three-bedroom unit on the 29th floor of D’Leedon sold for $3.25 million, setting a new psf-price record of $2,287 (Picture: Samuel Isaac Chua/The Edge Singapore)
The District 10 development, located along Leedon Heights, was completed in 2014. It has 1,703 units, ranging from one- to four-bedrooms and spanning 592 sq ft to 6,534 sq ft. D’Leedon is within walking distance of Farrer Road MRT Station on the Circle Line and is also close to Empress Road Market and Food Centre.
Rounding out the top three, Citylights saw a new psf-price high on Feb 27 when an 893 sq ft, two-bedroom apartment on the 26th floor was sold for $1.98 million, or $2,216 psf. The new record is 4.4% higher than the previous peak of $2,122 psf, set in December last year, when an 872 sq ft, two-bedroom unit on the 16th floor was sold for $1.85 million. The sellers of the 26th-floor unit purchased it for about $1.44 million, or $1,610 psf, in April 2019, making a profit of about $542,000.
Completed in 2007, Citylights is a 600-unit, 99-year leasehold condo situated along Jellicoe Road in Kallang (Picture: Samuel Isaac Chua/The Edge Singapore)
Citylights, completed in 2007, is a 600-unit, 99-year leasehold condo located along Jellicoe Road in Kallang, District 8. The development offers one- to four-bedroom units ranging from 560 sq ft to 3,875 sq ft. Just a one-minute walk from Lavender MRT Station, the condo is close to dining and retail options, including Aperia Mall and Kitchener Complex, both within a 300m radius.
There were no new psf-price lows recorded during the period in review.
