What's moving the market: Singapore's biggest property deals and hottest searches (Oct 23)

Here is this week’s data-led look at Singapore’s property market, covering record transactions, rental benchmarks and the most searched homes on EdgeProp.

The priciest condo unit transacted in the past fortnight was a $10.8 million three-bedroom apartment at the luxury Parkview Eclat along Grange Road in prime District 10. The unit is situated on the 17th floor and measures 2,896 sq ft in floor area.

Parkview Eclat is an Art Deco-style, 35-unit, 21-storey condo designed by American architect James Adams, the same architect who designed Parkview Square, an office tower on North Bridge Road dubbed “Gotham City” for its striking architecture.

 

 

On the same street, freehold Grange Residences at 95 Grange Road made the list with the second highest-priced condo unit sold over the fortnight. A four-bedroom unit on Level 7 changed hands for $10.2 million or $3,576 psf.

The seller of the four-bedder made a profit of $2.9 million, going by caveat data compiled by EdgeProp Research. This is also the second-highest profit for the week among condo resales.

Meanwhile, the third most expensive condo unit transacted over the past 14 days was a five-bedroom unit at Gallop Green — a low-density, low-rise freehold condo along Woollerton Park off Farrer Road and near the Singapore Botanic Gardens.

The Gallop Green unit was sold for $9.4 million, which works out to $2,630 psf on its size of 3,574 sq ft.

 

 

New-launch projects with the highest transaction volumes in the fortnight to Oct 20 included Lucerne Grand along Lakeside Drive in Jurong, Union Square Residences on Havelock Road, as well as Coastal Cabana executive condo (EC) on Jalan Loyang Besar in Pasir Ris.

 

 

In the rental market, the most popular condos were The Sail @ Marina Bay with 49 rental deals and Marina One Residences with 45 deals, both in the Marina Bay district.

The rental yield averaged 4% at The Sail @ Marina Bay and 4.2% at Marina One Residences, based on URA rental data in the past 12 months.

 

 

Among condo units with the 10 highest rents, Ardmore Residence took up six spots. Apartments at the luxury 36-storey condo at 7 Ardmore Park, in District 10, are fetching monthly rents ranging from $29,200 ($9.27 psf) to $34,800 ($11.05 psf).

 

 

 

 

 

 

 

 

In the landed property market, a detached house on Lim Tua Tow Road was sold for nearly $13.89 million on Oct 7, making it the highest-priced transaction over the fortnight to Oct 20. The price tag translates to $1,700 psf on its freehold land area of 8,170 sq ft.

On Faber Walk, a freehold semi-detached house sitting on a 7,334 sq ft site was resold for $12.75 million, garnering its owner a profit of $3.95 million. That works out to an annualised gain of 9.1% across a holding period of more than four years.

 

 

 

A high-floor flat in Boon Keng was the priciest HDB resale deal in the last 14 days, at $1.64 million or $1,302 psf.

Following closely were two flats sold at nearly $1.59 million each — one at The Peak @ Toa Payoh, on Levels 31 to 33; and another at The Pinnacle@Duxton along Cantonment Road on Levels 28 to 30.