SINGAPORE (EDGEPROP) - In the week of April 16 to 22, the highest transaction recorded on a psf basis was for a two-bedroom unit at Kopar At Newton, which was sold by the developer for $1.86 million or $2,703 psf, on April 21. The 689 sq ft unit sold is located on the 19th floor. The new psf price high marks the first time the development has crossed the $2,700 psf threshold.
Kopar At Newton is a 378-unit luxury condo developed by Chip Eng Seng’s property arm, CEL Development. The 99-year leasehold project was initially launched for sale in April 2020. The project is located along Kampong Java Road, off Bukit Timah Road in prime District 9.
To date, the project has achieved a take-up rate of 73% based on caveats lodged, with units sold at an average price of $2,350 psf. The temporary occupation permit (TOP) for Kopar At Newton is expected in December 2023.
The property is within walking distance of Newton MRT Station, which is an interchange for the North-South and Downtown Lines. Newton Food Centre is just opposite the development while other amenities in the vicinity include the Orchard Road shopping belt as well as the Botanic Gardens.
Another development that hit a new psf price high is The Gazania, after a one-bedroom unit measuring 441 sq ft changed hands for $1.1 million ($2,499 psf) on April 19.
Located on How Sun Drive in the Bartley area in District 19, The Gazania is a freehold condominium by listed developer SingHaiyi Group. Launched for sale in May 2019, The Gazania comprises seven low-rise residential blocks with a total of 250 units. To date, a total of 32% of units at the development have been sold at an average price of $2,060 psf.
The Gazania is a redevelopment of the former Sun Rosier condominium which SingHaiyi acquired en bloc for $271 million in September 2017. It is a short walk away from the Bartley MRT station on the Circle line. The project is expected to receive its TOP in 4Q2022. (See potential condos with en bloc calculator)
Parc Esta, located on Sims Avenue in Eunos, is another development that saw a new psf price high. On April 16, a two-bedroom unit spanning 635 sq ft sold for $1.4 million, translating to $2,201 psf. The unit sold is located on the second floor.
Parc Esta is a 1,399 unit private condo by MCL Land. The 99-year leasehold development has nine 18-storey blocks and is a redevelopment of the former Eunosville privatised HUDC estate which MCL Land purchased en bloc for $765 million in June 2017. Launched in November 2018, the development is fully sold. It is slated for completion before the end of the year.
The development is a short walk away from Eunos MRT station on the East-West line as well as Geylang Serai Market. Other amenities in the neighbourhood include Paya Lebar Square, SingPost Centre and PLQ Mall.
No new psf price lows were recorded during the period.