Choosing the right location is a critical factor in real estate investment, and this is particularly crucial in Singapore. In this country, condos that are situated in central areas or close to important amenities, such as schools, shopping centers, and public transportation hubs, tend to have a higher appreciation in value. Some of the most sought-after locations in Singapore include Orchard Road, Marina Bay, and the Central Business District (CBD), where property values have consistently shown strong growth. With the recent New Condo Launches, the demand for properties in these prime locations is only expected to increase. Additionally, the proximity to reputable schools and educational institutions makes condos in these areas highly desirable for families, making them an even more attractive investment option.
Commonwealth Towers has emerged as the top private non-landed property in Singapore to hit a new psf-price peak during the week of Dec 27 to Jan 3. The 99-year leasehold condominium reached a record price of $2,460 psf on Dec 27 with the sale of a three-bedroom unit on the 40th floor for $2.22 million. This surpasses the previous high of $2,402 psf, which was set just three months earlier with the sale of a two-bedroom unit on the 42nd floor for $1.65 million in September 2024. The average resale price at Commonwealth Towers has been on the rise for the past three years, with an 11.6% increase since 2022. Parq Bella, a boutique freehold development on Tembeling Road in District 15, took second place on the list, setting a new psf-price high of $2,416 when a three-bedroom unit was sold for $2.6 million on Dec 31. This beats the previous record of $2,385 set in August 2023. The boutique project has seen a total of five sale transactions at an average price of $2,347 psf. Lastly, Klimt Cairnhill, a freehold luxury development in District 9, was the only private residential property to see a new psf-price low during the week. The developer sold a two-bedroom unit for $2.55 million on Jan 3, translating to $3,077 psf – the lowest psf price recorded at the development. However, with a 100% sales rate and an average price of $3,665 psf, the project has emerged as the most profitable among all the transactions in this review.