Park Infinia Hits New Psf Price Peak 2527

Park Infinia at Wee Nam, a freehold condo development, made headlines for achieving new peaks in psf prices. During the week of May 10 to 17, it topped the charts with a unit that changed hands for a whopping $3.7 million. This 1,464 sq ft, three-bedroom apartment on the 17th floor was sold for $2,527 psf, setting a new record.

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This sale exceeded the previous benchmark of $2,518 psf, which was set in March 2022 when an 893 sq ft, two-bedroom unit on the 28th floor was sold for $2.25 million.

According to URA caveats, the unit was previously sold in June 2017 for $2.65 million. This means that the seller made a profit of $1.05 million.

So far this year, there have been three resale transactions at Park Infinia. The most recent sale was the aforementioned 1,464 sq ft unit, but there was also a 1,442 sq ft, three-bedroom unit that sold for $3.35 million ($2,323 psf) on Feb 16; and a 2,002 sq ft, four-bedroom unit that sold for $4.7 million ($2,348 psf) on Jan 4.

With these three transactions taken into account, the average psf price for units at Park Infinia is $2,394. This is a 7.7% increase from last year’s average of $2,222 psf, when there were seven resale transactions.

Located at Lincoln Road in prime District 11, Park Infinia is a freehold condo with 486 units. It was completed in 2008 and comprises a mix of one- to four-bedroom units ranging from 560 to 2,002 sq ft, as well as penthouses spanning from 2,702 to 3,315 sq ft.

Another development that saw a new psf-price high during the period of review was Park Colonial. On May 15, a 678 sq ft, two-bedroom unit on the 10th floor was sold for $1.58 million, which translates to $2,330 psf.

This sale surpassed the previous high of $2,326 psf, set on April 9 when a 980 sq ft, three-bedroom unit on the sixth floor was sold for $2.28 million.

According to URA caveats, the unit was purchased by the seller from the developer in July 2018 for about $1.22 million, or $1,798 psf. This means that the seller made a profit of $361,000 from the sale.

Park Colonial is a 99-year leasehold condo with 805 units, completed in 2021. It is located along Woodleigh Lane in District 13 and comprises six 14- to 15-storey residential blocks. The development offers a mix of one- and two-bedroom units ranging from 463 to 958 sq ft; three- and four-bedroom units from 915 to 1,464 sq ft; and five-bedroom units from 1,701 to 2,185 sq ft.

In contrast, OUE Twin Peaks registered a new psf-price low during the period in review. A 549 sq ft, one-bedroom unit on the third floor was sold for $1.14 million, or $2,077 psf, on May 17.

This new record is below the condo’s previous low of $2,086 psf, set in December 2022 when a 1,055 sq ft, two-bedroom unit on the 18th floor was sold for $2.2 million.

OUE Twin Peaks is a 99-year leasehold development with 462 units, located on Leonie Hill Road in prime District 9. It was completed in 2015 and comprises two identical 35-storey towers, offering a mix of one- and two-bedroom units between 549 and 1,055 sq ft, three-bedroom units between 1,399 and 1,604 sq ft, and four-bedroom units spanning 1,895 sq ft.

Overall, these transactions at Park Infinia, Park Colonial, and OUE Twin Peaks have shown that there are still profitable opportunities in the property market. Use EP Buddy to find profitable transactions, available listings, floor plans and much more.