Yahoo Finance Parc Esta achieves new high of $2,409 psf
SINGAPORE (EDGEPROP) - Parc Esta topped the list of condos that hit new psf-price highs during the period from June 1 to 7. The new psf-price high came from the sale of a 581 sq ft unit for $1.4 million ($2,409 psf). The two-bedroom unit, on the 12th floor, was sold on June 3.
Based on caveats lodged, the seller had purchased the unit from the developer in 2018 at $1.03 million, or $1,775 psf. This means that the seller netted a profit of $368,000.
The June 3 transaction marks the first time that a resale unit at Parc Esta was sold for more than $2,400 psf. It beats the previous record of $2,380 psf, which came from a sale of a 958 sq ft, three-bedroom apartment for $2.28 million on May 23. The seller had acquired the 16th-floor unit from the developer for $1.58 million ($1,649 psf) in 2019, which means they netted a profit of $700,000.
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A 581 sq ft, three-bedroom apartment in Parc Esta topped a list of condos that saw new psf-price highs from June 1 to 7 (Photo: Google Maps)
Parc Esta is a 99-year leasehold condo located along Sims Avenue in District 14. Completed in 2022, the development consists of 1,399 residential units. These are a mix of one- to five-bedroom units, ranging from 420 to 1,604 sq ft. The condo also features a cluster of five adjoining retail shops. The development is beside Eunos MRT Station and bus interchange.
So far this year, there have been 39 resale transactions at Parc Esta, with an average selling price of $2,219 psf.
The sale of a 764 sq ft unit at Leedon 2 was the second highest psf-price high during the period in review. The two-bedroom unit fetched $167 million ($2,183 psf) on June 7. The seller, who bought the sixth-floor unit in February 2017 for $1.12 million ($1,466 psf), made a gain of $548,000.
This marks the first time a unit at Leedon 2 was transacted for more than $2,100 psf. Its previous record psf-price was $2,028 psf, which came from the sale of a similar-sized, two-bedroom unit for $1.55 million in May 2022.
Freehold Leedon 2 saw a record high of $2,183 psf from the sale of a 765 sq ft unit on June 7 (Photo: Google Maps)
Leedon 2 is a freehold condo at 2 Leedon Road in prime District 10. Completed in 1996, the 72-unit development consists of two- and three-bedroom units of 764 to 1,249 sq ft. The development is within walking distance of Holland Village MRT Station on the Circle Line. It is also close to various shops and eateries, along with malls such as One Holland Village and Raffles Holland V.
Another condo that hit a new psf-price high is Sengkang Grand Residences. The condo recorded a new peak of $2,115 psf with the sub-sale of a 1,324 sq ft, four-bedroom apartment for $2.8 million on June 4. The seller, who had purchased the unit from the developer for $2.32 million ($1,752 psf) in April 2021, made a profit of $480,800.
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The transaction beats the previous high of $2,067 psf that was set in July last year when a 764 sq ft, two-bedroom apartment changed hands for $1.58 million.
A 1,324 sq ft, four-bedroom apartment at Sengkang Grand Residences fetched $2.8 million on June 4, achieving the condo’s new high of $2,115 psf (Photo: Kim Sy/EdgeProp Singapore)
Sengkang Grand Residences is the 680-unit residential component of an integrated development along Compassvale Bow in District 19. The fully sold condo is part of the Sengkang Grand integrated development, which includes the three-storey Sengkang Grand Mall that opened last year and community facilities such as a community club and hawker centre. The development has direct access to a bus interchange and Buangkok MRT Station on the North-East Line.
The condo is made up of nine 13-storey blocks housing a mix of one-bedroom-plus-study apartments from 474 sq ft; two-bedroom apartments from 624 sq ft; three-bedroom apartments from 936 sq ft; and four-bedroom apartments from 1,313 sq ft.
No new psf-lows were recorded during the period in review.
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