During the period of Feb 7 to 16, the sale of a two-bedroom unit at Hill House set a new record for the highest psf-price achieved among private condos. This 999-year leasehold development located at the top of Institution Hill, off River Valley Road, saw a transaction of $3,398 psf for a compact 452 sq ft unit on the eighth floor. This surpassed the previous high of $3,378 psf, also for a 452 sq ft two-bedroom unit on the eighth floor, sold for $1.53 million on Feb 11. The boutique condo, launched in 2022, comprises of 72 units consisting of one-bedroom, two-bedroom, and three-bedroom apartments.Search for the latest New Launches to get the latest transaction prices and options for available units.AdvertisementAdvertisementAnother 999-year leasehold condo, The Tresor, also saw a new psf-price high during the Feb 7 to 16 period. A resale transaction for a 1,421 sq ft unit on the fifth floor fetched $2,625 psf and a record $3.73 million. This beat the previous high of $2,501 psf, set in March 2024 for a 1,399 sq ft, three-bedroom unit on the second floor, sold for $3.5 million. The Tresor is a 62-unit development located at Duchess Road in District 10, with a mix of two-, three-, and four-bedroom apartments spanning from 990 to 2,896 sq ft.AdvertisementPhoto: Samuel Isaac Chua/EdgeProp SingaporeJadescape rounds out the top three on the list, with a new record of $2,459 psf achieved for a 1,647 sq ft, four-bedroom unit on the 22nd floor sold for $4.05 million on Feb 7. The previous high was $2,446 psf for a 1,259 sq ft unit on the 10th floor, sold in January. The 99-year leasehold condo, completed in 2022, has 1,206 units across seven residential towers offering one- to five-bedrooms and two penthouses, one of which is a 4,230 sq ft duplex unit. Located at the junction of Marymount Road and Shunfu Road, the development is within walking distance of Marymount MRT Station and Sin Ming Plaza.In conclusion, these three private condos achieved new psf-price highs during the period of Feb 7 to 16. Hill House, The Tresor, and Jadescape saw transaction prices of $3,398 psf, $2,625 psf, and $2,459 psf respectively.
It is crucial for international investors to have a clear understanding of the rules and limitations surrounding property ownership in Singapore. In general, foreigners are permitted to buy condos with minimal restrictions, in contrast to landed properties which have more stringent ownership regulations. However, it is important to note that foreign buyers are required to pay the Additional Buyer’s Stamp Duty (ABSD), which is currently set at 20% for their first property acquisition. Despite this extra expense, the stability and potential for growth in the Singapore real estate market continues to draw in foreign investments. This is especially true for Singapore Condos which remain a sought-after option for foreign buyers.