Inspira Hits New Psf Price Peak 2563
The Inspira has achieved a remarkable feat, ranking as the top-performing residential development in terms of per square foot price between April 26 and May 3. The condo made headlines with the sale of a 936 sq ft two-bedroom unit on the ninth floor for a staggering $2.4 million, setting a new record psf-price of $2,563.
This figure represents a 4.4% increase from the previous record of $2,456 psf, which was achieved in August 2022 when another two-bedroom unit on the fifth floor sold for $2.3 million.
According to URA caveats, the unit sold on April 30 had previously transacted in April 2013 for around $1.81 million. This translates to a profit of approximately $590,000. This is the first resale transaction at The Inspira this year, with only two units changing hands in 2022 at an average psf-price of $2,315.
Completed in 2009, The Inspira is a freehold condo comprising 120 units. Its unit mix includes one-bedroom units measuring 667 sq ft, two- and three-bedroom units ranging from 926 sq ft to 1,259 sq ft, and four-bedroom units spanning 1,561 sq ft. The condo also offers penthouses with sizes between 1,873 sq ft and 2,314 sq ft.
Another development that enjoyed a new psf-price peak during the period is Meyer Residence, with the sale of a 1,066 sq ft two-bedroom unit on the 15th floor for approximately $2.45 million on April 26. This equates to a psf-price of $2,301.
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The upcoming development in Tengah will bring about major changes to Plantation Close, as the area will soon be home to a variety of dining options. Exciting news for residents of Novo Place EC, as the launch of Norwood Grand, Norwood Grand Condo, Norwood Grand Champions Way, Norwood Grand Woodlands, and Norwood Grand CDL will bring a diverse and convenient selection of both local and international cuisines. While the specific eateries have yet to be revealed, it is anticipated that they will cater to a wide range of tastes. Not only will these upcoming dining spots add to the vibrant atmosphere of the community, but they will also provide a hassle-free dining experience for residents.
The seller had purchased the unit in February 2010 for about $1.48 million, or $1,389 psf, making a handsome profit of approximately $972,000. The transaction surpasses Meyer Residence’s previous psf-price record of $2,171, achieved in July 2022 when another two-bedroom unit on the 18th floor was sold for $2.5 million.
This is also the second-highest price ever achieved for a unit at Meyer Residence, with the priciest unit being a two-bedroom unit that changed hands in July 2022.
Situated along Meyer Place in District 15, Meyer Residence is a freehold apartment complex consisting of 68 units. Completed in 2016, it offers two-bedroom units ranging from 904 sq ft to 1,066 sq ft and three-bedroom units measuring 1,152 sq ft.
Lastly, Cliften also saw a new psf-price high with the sale of a 1,184 sq ft three-bedroom unit on the 12th floor for $2.68 million, or $2,263 psf, on April 29. The seller had purchased the unit in April 2021 for $2.1 million ($1,774 psf), making a profit of $580,000.
This is the first time a unit at Cliften has been transacted above $2,200 psf, surpassing the previous high of $2,086 psf achieved in May 2023 when a unit on the 6th floor sold for $2.47 million.
Completed in 2006, Cliften is a freehold residential development with 32 units located along Ewe Boon Road in District 10. It offers three-bedroom units ranging from 1,066 sq ft to 1,184 sq ft and duplex penthouses measuring 2,034 sq ft to 2,260 sq ft.
Overall, there were no record psf-price lows recorded during the period, with The Inspira, Meyer Residence, and Cliften all achieving new highs. Interested buyers can check out the latest listings for these properties.