During the period of Feb 7 to 16, the private condo market saw a new record for the highest psf-price achieved. Topping the list was the sale of a two-bedroom unit at Hill House, which sold at a peak of $3,398 psf on Feb 16. This beats the previous record of $3,378 psf set on Feb 11 for another two-bedroom unit of the same size on the eighth floor.
Hill House, a 999-year leasehold development located at the top of Institution Hill in District 9, comprises 72 units and was launched in 2022. It consists of 40 one-bedroom units, 24 two-bedroom apartments, and eight three-bedroom apartments. The recent transaction, sold by the developer for $1.54 million, marginally surpasses the previous record set in February.
As of February 16, 37 units (51.4%) have been sold at an average price of $3,152 psf since the launch of Hill House in November 2022, according to URA caveats. The condo is still under construction and is expected to be completed in the third quarter of 2026. Since the beginning of the year, eight units have been sold at an average price of $3,190 psf. This includes a 753 sq ft three-bedroom apartment that sold for $2.39 million on Jan 5 and is the most expensive unit sold so far at Hill House in terms of absolute price.
In second place on the list of condos with new psf-price highs is The Tresor, where a resale transaction of a 1,421 sq ft unit on the fifth floor was sold for $3.73 million ($2,625 psf) on Feb 10. This surpasses the previous record of $2,501 psf set in March 2024 for a 1,399 sq ft, three-bedroom unit on the second floor that sold for $3.5 million.
The Tresor, a 62-unit development located on Duchess Road in District 10, was completed in 2007 and offers a mix of two-, three-, and four-bedroom apartments ranging from 990 to 2,896 sq ft. The recent resale transaction is the first in a year, according to URA caveats, with the most recent transaction being in March 2024 for a 1,399 sq ft unit that sold for $3.5 million ($2,501 psf).
Finally, making it to the top three on the list is Jadescape, where a 1,647 sq ft, four-bedroom unit on the 22nd floor sold for $4.05 million ($2,459 psf) on Feb 7. This sets a new record for the District 20 development, beating the previous peak of $2,446 psf set in January for a 1,259 sq ft unit on the 10th floor. The most expensive unit sold at Jadescape in terms of absolute price is a 4,230 sq ft, six-bedroom penthouse that fetched $10.2 million ($2,399 psf) in December 2024.
Jadescape, a 99-year leasehold condo that was completed in 2022, comprises 1,206 units spread across seven residential towers. Located at the junction of Marymount Road and Shunfu Road, the development offers one- to five-bedroom apartments ranging from 527 sq ft to 2,099 sq ft, along with two penthouses of 4,230 sq ft. Notably, Jadescape commands one of the highest average transacted prices among condos within a 1km radius, with an average of $2,192 psf for transactions in the last 12 months, according to EdgeProp Research. Other nearby condos such as Tresalveo, Longhaus, and Thomson V Two have average transacted prices ranging from $1,712 to $1,912 psf, all of which are freehold developments.
Investing in a condo requires careful consideration of financing options. In Singapore, there are various mortgage choices available, but it is crucial to be familiar with the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan that a borrower can take based on their income and current debt obligations. To ensure wise financial decisions, it is advisable to understand the TDSR and seek guidance from financial advisors or mortgage brokers. This will help investors avoid over-leveraging and make well-informed choices. Additionally, for a comprehensive list of available Singapore projects, visit Singapore Projects.
During this period, no new psf-price lows were recorded in the private condo market.