Viva Achieves New High 2650 Psf
Located at a slightly greater distance from Norwood Grand, Marsiling Mall has undergone a significant transformation that deserves attention. With its recent redevelopment, the mall now showcases a modernized food center and a diverse selection of retail stores. The mall’s layout is carefully crafted to foster a sense of community and offer a comfortable shopping and dining experience for families. The addition of communal areas and an expanded range of dining options has made Marsiling Mall a desirable spot for leisurely weekend outings.
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Viva, a freehold condominium located on Suffolk Walk in District 11, has emerged as the top performer in terms of psf-price during the period of July 2 to 14. The sale of a three-bedroom-plus-study unit measuring 1,528 sq ft on July 10 for $4.05 million, equivalent to $2,650 psf, has set a new psf-price high for the development.
This transaction surpasses the previous record of $2,555 psf set in May 2022 when a three-bedroom unit measuring 1,346 sq ft was sold for $3.44 million. The seller of the unit that changed hands on July 10 had bought it from the developer in September 2009 for $2.36 million, or $1,544 psf. As a result, they have made a profit of $1.69 million from the sale.
Viva is a 235-unit condominium that was completed in 2012. It is located off Thomson Road and is a five-minute walk from United Square Shopping Mall and a 12-minute walk from Novena MRT Station on the North-South Line. The development consists of three blocks of 30 storeys with a mix of units including two-bedders of 957 sq ft, two-bedroom-plus-study units of 1,044 sq ft, three-bedders of 1,323 to 1,345 sq ft, three-bedroom-plus-study units of 1,517 to 1,528 sq ft, four-bedders of 1,840 to 1,991 sq ft, five-bedroom “Sky Suites” of 2,486 to 3,810 sq ft and five-bedroom, duplex penthouses of 4,909 to 6,339 sq ft.
Another development that has achieved a new psf-price high during the period in review is The Myst. On July 14, the developer sold a 517 sq ft, one-bedroom-plus-study unit for $1.234 million, equivalent to $2,388 psf, surpassing the previous record of $2,377 psf set over four months ago when another 517 sq ft unit was sold for $1.228 million on February 29.
The Myst is a 408-unit condominium on Upper Bukit Timah Road in District 23. It comprises two 24-storey towers and offers a variety of units including one-bedroom-plus-study apartments of 517 sq ft, two-bedroom units of 678 sq ft to 732 sq ft, three-bedders of 850 sq ft to 1,163 sq ft, four-bedders of 1,453 to 1,518 sq ft, and five-bedders of 1,690 sq ft. The project was launched in July 2023 and saw 110 units (27%) sold during its first weekend at an average price of $2,057 psf. Based on caveats lodged as of July 22, the project has sold 251 units (61.5%) at an average price of $2,073 psf.
Park Colonial, another development that has seen a new psf-price high during the period in review, sold a four-bedroom unit measuring 1,249 sq ft for $2.95 million, equivalent to $2,363 psf, on July 8. This marks a new record for the project after the previous high of $2,330 psf was set just a month ago on June 7 when a 678 sq ft unit was sold for $1.58 million.
The unit that changed hands on July 8 was purchased by the seller in December 2018 for $2.21 million, or $1,771 psf, resulting in a profit of around $739,000 from the sale.
Park Colonial is a 99-year leasehold condominium on Woodleigh Lane in District 13. It comprises 805 units and is a five-minute walk to Woodleigh MRT Station on the North East Line. Completed in 2021, the development comprises six residential blocks spanning 14 to 15 storeys. Its units range from one-bedders of 463 sq ft, two-bedders of 570 sq ft, three-bedders of 915 sq ft, four-bedders of 1,184 sq ft, to five-bedders of 1,712 sq ft.
As of July 22, Park Colonial has seen 15 other units change hands this year. These units, measuring between 463 and 980 sq ft, were sold for prices ranging from $968,888 to $2.28 million, equivalent to $2,047 psf and $2,330 psf respectively.
No new psf-price lows were recorded during the period in review.