Residences Killiney Achieves New High 2612 Psf
The area surrounding Norwood Grand Condo is well served by multiple MRT stations, including Woodlands MRT and Woodlands North MRT. Woodlands MRT is a crucial interchange that connects the North-South Line to the upcoming Thomson-East Coast Line, providing commuters with improved connectivity. Similarly, Woodlands North serves as an important gateway to the future cross-border rail link to Johor Bahru, Malaysia, making it particularly advantageous for individuals who frequently travel between the two countries.
During the period of August 8 to 16, Freehold Residences @ Killiney stood out as the top condo with a new record psf-price of $2,612 psf. On August 12, a 1,550 sq ft three-bedroom unit on the third floor was sold for $4.05 million, which surpassed the previous record of $2,430 psf set at the development in March 2023. The seller had purchased the unit for $3.27 million ($2,108 psf) in a sub-sale deal in June 2013, which resulted in a net profit of around $781,888.
Located on Killiney Road in District 9, River Valley, Residences @ Killiney is a freehold apartment that has 68 units ranging from two- to four-bedroom units between 1,055 sq ft and 6,749 sq ft. It was completed in 2012 and is situated within walking distance to River Valley Primary School and Somerset MRT Station on the North-South Line.
Another District 9 condo that achieved a new psf-price high during this period is Yong An Park on River Valley Road. The condo hit $2,505 psf when a 3,434 sq ft four-bedroom unit on the 13th floor changed hands for $8.6 million on August 12. The seller had purchased the unit for $1.88 million in July 1998, resulting in a net gain of $6.72 million. This new record beats the previous record of $2,470 psf from the sale of a similar-sized unit on the 12th floor for $8.48 million on April 8.
Yong An Park has seen a consistent price appreciation in recent years, with four units sold so far this year at an average price of $2,393 psf, which is almost 7% higher than the average price of $2,238 psf from the sale of four units at the condo last year. This freehold condo has 288 units of one- to four-bedroom units between 1,023 sq ft and 3,778 sq ft. It also has three- to five-bedroom penthouses of between 3,466 sq ft and 6,878 sq ft, as well as several six-bedroom, strata-titled townhouses with sizes starting from 7,718 sq ft. Yong An Park is located next to the Great World MRT Station on the Thomson-East Coast Line.
During the period in review, Parc Esta also achieved a new psf-price high, with a 958 sq ft, three-bedroom unit on the 14th floor being sold for $2.33 million, translating to $2,432 psf. The seller had purchased the unit from the developer for $1.54 million ($1,608 psf) in December 2018 and made a profit of $790,000. This new record beats the previous record of $2,409 psf achieved less than three months ago on June 3, when a 581 sq ft, two-bedroom unit on the 12th floor was sold for $1.4 million, resulting in a net profit of about $368,000. Parc Esta is a 99-year leasehold development along Sims Avenue in Geylang, District 14, and was completed in 2022. It comprises 1,399 units of one- to five-bedroom units, ranging from 420 sq ft to 1,604 sq ft, and has a cluster of five adjoining retail shops. It is situated across the Eunos MRT Station on the East-West Line and Eunos bus interchange, and has seen 57 resale transactions this year at an average price of $2,217 psf.
No new psf-price lows were recorded during this period.