SINGAPORE (EDGEPROP) - In the week of May 8 to 15, the highest transaction recorded on a psf basis was for a unit at Fyve Derbyshire. A two-bedroom unit measuring 657 sq ft was sold by developer Roxy-Pacific Holdings for $1.71 million ($2,603 psf) on May 9. The unit sold is located on the 16th floor. This is the first time the development has crossed the $2,600 psf threshold since its launch in January 2019.
A two-bedder at Fyve Derbyshire sold for $1.71 million ($2,603 psf) on May 9 (Picture: Samuel Isaac Chua/The Edge Singapore)
Fyve Derbyshire is a freehold apartment located along Derbyshire Road within the Novena area in prime District 11. It is a boutique development with a total of 71 units housed in the 19-storey residential tower. To date, 80% of units have been sold at an average price of $2,333 psf, based on caveats lodged.
Units at Fyve Derbyshire comprise a mix of two- and three-bedders with sizes ranging from 560 to 936 sq ft. The development is within a 10-minute walk to the Novena MRT station on the North South line, which is connected to the Velocity @ Novena Square shopping mall. Fyve Derbyshire is also within walking distance to the United Square shopping mall.
The development is slated to receive its temporary occupation permit (TOP) in May 2024.
Another development that saw a new psf price high was Myra. On May 15, a one-bedder measuring 474 sq ft was sold by the developer for $1.134 million ($2,394 psf). This is a new all-time high for the freehold apartment project by Malaysian developer Selangor Dredging.
Myra saw a new psf price high after a one-bedder sold for $1.134 million ($2,394 psf) on May 15 (Picture: Selangor Dredging)
Situated along Meyappa Chettiar Road, Myra is located in District 13’s Potong Pasir area. The 12-storey residential tower is located across the road from the Potong Pasir MRT station on the North-East line, which is linked to The Poiz Centre shopping mall.
Since the project’s launch in September 2020, a total of 53 of the 85 units available have been sold at an average price of $2,152 psf, based on caveats lodged. Units comprise a mix one-, two-, three- and four-bedders, with sizes ranging between 474 sq ft and 1,324 sq ft. Myra is slated for completion in 2024.
At the other end, a boutique development in District 11 saw a new psf price low this week. 35 Gilstead saw a new low of $2,057 psf after a three-bedroom duplex penthouse measuring 1,647 sq ft was sold by developer TEE Land for about $3.39 million on May 9. This is the lowest psf price transacted at the development since its launch in March 2019.
35 Gilstead saw a new psf price low after a penthouse unit was sold for $3.388 million ($2,057 psf) on May 9 (Picture: Samuel Isaac Chua/The Edge Singapore)
35 Gilstead is a freehold condominium located on Gilstead Road, off Newton Road. It is a redevelopment of the former Casa Contendere, which was sold to TEE Land in a collective sale in November 2017 for $72 million ($1,638 psf per plot ratio).
There are a total of 70 units at 35 Gilstead. The development comprises three blocks of five storeys each with a mix of one- to three-bedroom units ranging between 474 sq ft and 1,249 sq ft. There are also five duplex penthouse units that go up to 1,647 sq ft.
The Newton MRT station on the Downtown line is within a 10-minute walking distance from the development. 35 Gilstead is expected to receive its TOP in May 2024.