SINGAPORE (EDGEPROP) - In the week of June 3 to 11, upcoming development Fyve Derbyshire clocked a psf price high through the sale of a two-bedroom apartment.
The 657 sq ft unit is located on the 17th floor, and was sold by the developer Roxy-Pacific Holdings on June 8 for $1.77 million, setting a new psf price record for the development at $2,691. This surpasses the previous psf record price, when a similar two-bedroom unit of the same size on the 18th floor was sold last month for $1.76 million, or $2,673 psf.
Scale model of Fyve Derbyshire, expected to be completed at the end of this year (Credit: Samuel Isaac Chua/ The Edge Singapore)
Located along Derbyshire Road within the Novena area in prime District 11, Fyve Derbyshire is a boutique freehold project with a total of 71 units housed in the 19-storey residential tower. The development is expected to be completed by the end of the year.
As of June, 83% of the units have been sold at a median price of $2,329 psf, based on caveats lodged with URA.
Residential units at Fyve Derbyshire consist 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, and is connected to the Velocity @ Novena Square shopping mall. United Square shopping mall and Novena Medical Center are within walking distance as well.
The upcoming development The Landmark also hit a psf price high for the week. On June 11, a 495 sq ft, one-bedroom apartment on the 21st floor was sold for $1.29 million, or $2,601 psf. This marks the highest psf price recorded within the development, exceeding the previous psf price of $2,592 when a 21st-floor unit of the same size was bought for $1.28 million on May 17.
Located adjacent to Pearl Hill City Park in the Outram area, in District 3, The Landmark is a joint venture between MCC Land, ZACD Group and SSLE Development. The 99-year leasehold project is scheduled for completion in March 2025. It will consist of a mix of one- to three-bedroom units ranging from 495 to 1,141 sq ft, with private lift access.
Chinatown MRT Station, on the Downtown and North-East Lines, is located within a 10-minute walking distance away. Nearby malls include Chinatown Point and UE Square, both a short drive away. The CBD and Orchard Road are also readily accessible.
The freehold Thomson Euro-Asia also reached a record psf price for the week, when a 1,130 sq ft, three-bedroom apartment on the third floor was sold on June 8 for $2.5 million, or $2,212 psf. In December last year, another three-bedroom apartment on the sixth floor was sold for $2.8 million, or $2,168 psf.
Located on Thomson Road in District 11, the 136-unit development was completed in 2002. The development comprises a 30-storey residential tower, and is within walking distance to Novena MRT Station (North-South Line) and the Velocity Shopping Centre.
No new psf price lows were recorded during the week.