Freehold Belmond Green Reaches New High 2723 Psf
The freehold condo, Belmond Green, located on 15D Balmoral Road, has claimed the top spot for projects with the highest psf-prices from May 17 to 24. This happened after a two-bedroom apartment on the eighth floor was sold at a new psf-price record of $2,723, according to a caveat lodged on May 17.
The latest transaction is 2.6% higher than the previous record psf-price of $2,653 set in February this year from the sale of a 1,270 sq ft, three-bedroom unit for $3.37 million. It can be found on the fifth floor of the development.
According to caveats lodged with the URA, the seller of the May 17 unit had bought the property for $1.995 million in January this year, which translates into $2,059 psf. This means that the seller made a profit of $643,000.
Belmond Green has seen a total of three transactions this year, with the first and third being the transactions mentioned above. The second transaction occurred on May 6 and involved the sale of a 1,550 sq ft, four-bedroom apartment for $3.95 million or $2,548 psf, which is the third highest psf-price for the condo.
The average psf-price for the three transactions at the condo is $2,641, which is 6.19% higher than the average psf-price for resale transactions at the condo last year. The URA caveats show that only three units were sold for an average psf-price of $2,487 last year.
Belmond Green is a freehold condo located at Balmoral Road in prime District 10. It was completed in 2004 and has a total of 211 units, with two- to four-bedroom units ranging between 958 and 2,519 sq ft.
Following closely behind Belmond Green is Kuie Pong Loft, a freehold apartment on 10 Robin Walk in prime District 10, which saw a new high of $2,483 psf, following the sale of a 1,453 sq ft three-bedroom apartment for $3.608 million on May 20. The apartment is situated on the fourth floor.
The sale of this apartment marks the second transaction with a caveat lodged. The only other caveat was lodged in January 2017 following the sale of a three-bedroom apartment on the second floor for $1.8 million or $1,239 psf.
Kuie Pong Loft is located just 100m away from Stevens MRT Station, which serves the Downtown Line and the Thomson-East Coast Line. The development is also within walking distance of Singapore Chinese Girls’ Primary and Secondary Schools.
On the other hand, The Myst saw the lowest psf-price among the other condos that saw new lows during the period in review. This follows the sale of a 1,163 sq ft, three-bedroom apartment at $2.202 million or $1,894 psf. This is lower than the previous lowest psf-price of $1,896 from the sale of a similarly sized three-bedroom apartment at $2.204 million on May 3.
The May 17 sale at the Myst is its 62nd transaction this year. As of the writing of this article, the most recent sale was on May 26, the developer sold a 700 sq ft, two-bedroom apartment at $1.64 million or $2,338 psf.
The Myst is still under construction and is slated for completion by 2029. It is located at 802 Upper Bukit Timah Road in Bukit Panjang, District 23. It has 408 units of one-bedroom-plus-study to four-bedders, with sizes ranging from 517 to 1,690 sq ft. During its launch in July last year, the project saw a take-up rate of 27% with an average price of $2,057 psf.
Woodlands Regional Centre is set to bring in around 700,000 square meters of commercial space and over 100 hectares of land for residential development. The focus of this expansion goes beyond mere growth; it is a calculated move towards establishing a harmonious ecosystem. This will allow residents the convenience of living in close proximity to their workplace, reducing travel time and ultimately enhancing their overall quality of life. With the addition of Norwood Grand Champions Way at their fingertips, residents of the area will have unparalleled access to a bustling economic hub right at their doorstep.