Parc Esta Achieves New High 2409 Psf
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SINGAPORE (EDGEPROP) – During the period of June 1 to 7, Parc Esta has emerged as the top-selling condo with a record psf-price of $2,409. The newest high psf-price was achieved by the sale of a 581 sq ft unit for $1.4 million (two thousand four hundred and nine psf) on June 3. The seller of the 12th floor two-bedroom unit earned a profit of $368,000 from the sale.
According to information from caveats lodged, the unit was purchased from the developer in 2018 for $1.03 million. This translates to a psf price of $1,775. It can be seen that the sale on June 3 marks the first time a resale unit in Parc Esta has been transacted for more than $2,400 psf. This price beats the previous record of $2,380 psf, achieved by a $2.28 million sale of a three-bedroom unit that measures 958 sq ft on 23 May. The 16th floor unit was purchased by the seller from the developer for $1.58 million. This means a 2019 profit of $700,000.
Parc Esta is a 99-year leasehold condo that is located in District 14, along Sims Avenue. The condo was completed in 2022 and boasts of having 1,399 residential units as well as five retail outlets. The units consist of one-bedroom to five-bedroom units that range from 420 sq ft to 1,604 sq ft. The condo is conveniently situated beside Eunos MRT Station and several bus stops.
In this year, 39 resale transactions have taken place at Parc Esta, with an average selling price of $2,219 psf.
The second highest psf-price achieved during the period under review was at Leedon 2, with a $167 million sale of a 764 sq ft unit. This two-bedroom unit at Leedon 2 fetched $2,183 psf on June 7. The seller of this unit, who purchased the property in February 2017 for $1.12 million, made a profit of $548,000. The previous highest psf-price for a unit at Leedon 2 was $2,028. This was achieved during the sale of a two-bedroom unit that measured 764 sq ft, for a sale price of $1.55 million in May 2022.
Freehold Leedon 2 also achieved another new record of $2,183 psf from the sale of a 765 sq ft unit on June 7. The condo is situated at 2 Leedon Road in District 10. It was completed in 1996 with a total of 72 units. The property boasts of having two to three-bedroom units that range from 764 sq ft to 1,249 sq ft. The condo’s location is convenient as it is within walking distance to Holland Village MRT Station on the Circle Line. It is also of close proximity to shopping centres and eateries such as One Holland Village and Raffles Holland V.
Sengkang Grand Residences is another condo that achieved new records for a psf-price high. The condo recorded a high of $2,115 psf with a sub-sale of a 1,324 sq ft unit for $2.8 million. This transaction took place on 4 June. By comparing the amount with the $2.32 million purchase from the developer on 12 April 2021, the seller earned $480,800 from the sale.
The condo holds the previous record for a $2,067 psf transaction when a two-bedroom unit of 764 sq ft was sold for $1.58 million in July 2020. Sengkang Grand Residences is an integrated development that is made up of the residential component known as Sengkang Grand and the three-storey Sengkang Grand Mall. Other facilities such as a community club and a hawker centre are also located here. This fully-sold condo has a bus interchange and its own MRT Station located on the North-East Line.
Sengkang Grand Residences offers a variety of units that range from one-bedroom-plus-study apartments measuring 474 sq ft, two-bedroom units from 624 sq ft, three-bedroom units from 936 sq ft and finally 4-bedroom apartments that measure 1,313 sq ft.
The Knight Frank auction also announced that there were no new psf-lows that were recorded during the period from June 1 to 7.