One-bedroom apartments at Riviere are currently selling for at least $3,000 per square foot

One of the most recent transactions of 2022 witnessed the setting of a new high psf-price established at the forthcoming Riviere District 3. The purchase of a 560 sq . ft one-bedroom apartment cost $1.89 million ($3,386 per square foot) as the developer was able to sell it on December 31st 2022. It is higher than previous records which was established with the purchase of 2,002 sq . ft four-bedroom home at $6.7 million ($3,346 per sq ft) back in July , 2020. This is also the most expensive price for a condo that have reached psf-price record highs in Singapore during the time period Dec 27 to 2022.

The Lakegarden Residences enbloc of residential developments in the area, the demand for The LakeGarden Residences is set to be high.

Riviere is a prestigious future mixed-use project by Frasers Property Singapore. The development, which is 455 units, is situated on the site of the former Zouk nightclub located at Jiak Kim Street, on the banks of the Singapore River. The development comprises two 36-storey residential towers and an low-rise, four-storey structure with 80 apartments that are serviced and riverside warehouses which were converted to commercial purposes and to provide amenities.

The project was announced for sale in June of 2019. Because of the high-end status for the project in general the prices at Riviere have been consistent over the last 3 1/2 years. According to developer sales figures submitted to URA At least 411 units (90%) have been sold by the end of December 2022.

Prices have also increased in line with the sales growth at the new development. When it first went live the one-bedroom units cost $2,580 psfor $1.53 million. One-bedders that remain are being sold for at minimum $3,000 per sq ft, like the purchase of a 560 square foot apartment for $1.69 million ($3,023 per square foot) on the 21st of November 2022.

Record-breaking psf prices were also shattered by Nassim Mansion in prime District 10, where a 2,852 square feet, four-bedroom property was sold to the tune of $9.28 million ($3,253 per square foot) on December 29 2022. Prior to that the record-setting psf price had been a $312 square foot four-bed unit that sold for $10.6 million ($3,107 per square foot) in June of 2018.

Nassim Mansion It is freehold development completed in 1977, meaning it will turn 46 years old in the year. It is located at Nassim Hill, the development is located in a prestigious residential enclave that is close to Singapore Botanic Gardens. Singapore Botanic Gardens and Singapore Botanic Gardens, the Orchard Road shopping belt and other luxurious neighborhoods.

The central location of the property ensures that Nassim Mansion is in close proximity to major services, amenities and institutions. For instance, the house is located less than 400m away distance from Gleneagles Medical Centre and Hospital It is also near major embassies on Napier Road and Tanglin Road.

The appeal of the area implies that the units are held in tight control. Based on URA restrictions that only 11 units in Nassim Mansion have changed hands during the last five years. The largest unit sold , and the one that had the highest price per square foot was a 7,115 sq . ft. penthouse, which was purchased at $14.88 million ($2,091 per square foot) in April of this year.

But, Nassim Mansion is not able to have the highest average value for Nassim Mansion. Nassim Road area. Based on the caveats that the property has an average of $2,923 per sq ft. According to property data collected through EdgeProp Singapore, the average price at some modern developments are significantly higher than the old-fashioned condo that is 46 years old.

As an example, The Nassim which was completed in 2015 is estimated at $4,663 per sq ft. Nassim Park Residences which was completed in 2011, recorded an average cost of $3,885 per square feet. The unfinished, ultra-luxury property The Nassim Maison is astonished by the average price of $5,496 per sq ft.

The new projects One Pearl Bank and The Landmark in District 3 rounded out the year with new psf-price levels. Both projects happen to be located in Pearl’s Hill, with the first project launching in July 2019 and the other in November 2020.

700 sq ft two-bedroom home set a price-per-square-foot record in One Pearl Bank, when the developer offered it for sale at $2.1 million ($3,009 per sq ft) on December 27 the year before. It’s a little more than the previous record that was a 560 sq feet, one-bedroom unit which was sold in August 2022 for $1.66 million ($2,973 per sq ft) in August 2022.

One Pearl Bank is a 774-unit property development owned of property large CapitaLand. The project has a total of 25% of units in the project were sold in the first sales launch. The project is estimated to be 95% sold by the end of 2022.

The same time The Landmark, a nearby project, The Landmark, also achieved a record price per square foot in which two 678 sq ft two-bedroom units purchased to buyers for $1.89 million ($2,802 per square foot) on December 29 in the year prior. The previous record was held for a short time by a 495 square foot unit, which was sold at $1.37 million ($2,787 per square foot) on the 18th of December 2022.

The Landmark is developed jointly by a group of developers consisting of MCC Singapore, SSLE Development and ZACD Group. The entire project is comprised of 396 units. Developer the sales of The Landmark have performed fairly well, selling around 27.5% of units during the first month of sales. it has steadily increased to 53% at the end of 2022.

There were no lows in the psf-price index during the time period from December 27-31, 2022.