Understanding the regulations and limitations regarding property ownership in Singapore is crucial for foreign investors. In comparison to landed properties, which have stricter ownership rules, foreigners are generally permitted to purchase condos with less restriction. However, they must be aware of the Additional Buyer’s Stamp Duty (ABSD) of 20%, which is applicable to their first property purchase. This extra cost is worth considering, given the stability and potential for growth in the Singapore real estate market, which continues to attract foreign investment. With its thriving real estate market, Singapore Condo remains a desirable option for foreign buyers.
Please find below the rewritten article:SINGAPORE (EDGEPROP) – The boutique development Hill House has emerged as the top performing condo between November 10 to 21, with a new psf-price high of $3,267. The developer sold a 452 sq ft, two-bedroom unit on the fifth floor for $1.48 million on November 11, setting a new record for the development.According to data, this new high is only 0.1% higher than the previous record of $3,263 psf set in November 2023. This was from the sale of a 624 sq ft two-bedroom unit on the ninth floor, which was sold for $2.04 million.The 999-year leasehold Hill House, located at Institution Hill off River Valley Road in District 9, has seen 11 transactions this year with an average price of $3,098 psf. This is slightly lower than the average price of $3,127 psf for the five transactions recorded last year.Search for the latest New Launches to find out the latest transaction prices and available units. The artist’s impression of Hill House, developed by Macly Group, which saw a record of $3,267 psf during the reviewed period (Photo: Macly Group)Launched in 2022, Hill House has 72 units, consisting of 40 one-bedroom and one-bedroom plus study apartments ranging from 431 sq ft to 452 sq ft. There are also 24 two-bedroom units measuring 624 sq ft and eight three-bedroom apartments of 753 sq ft.According to URA caveats, 29 units (40%) at Hill House have been sold at an average price of $3,060 psf since its launch in November 2022. The development is still under construction and is expected to be completed in the third quarter of 2026.Receiving second place on the record of condos with new psf-price highs is the freehold development, The Continuum, which achieved $3,084 psf for the sale of a 721 sq ft two-bedroom unit on the 17th floor on November 16. This transaction surpassed the previous record of $3,071 psf at The Continuum, from the sale of a 721 sq ft two-bedroom unit on the 16th floor for $2.22 million on November 15.The Continuum, located on Thiam Siew Avenue off Haig Road and Tanjong Katong Road in District 15, was launched in April last year. It has 816 units spread across six residential towers on two plots of land, connected by a private pedestrian overhead bridge. Available units range from one- to five-bedroom apartments spanning between 560 sq ft and 2,260 sq ft.A total of 489 units (59.8%) at The Continuum have been sold at an average price of $2,779 psf since its launch in May 2023. The development is still under construction and is expected to be completed by 2026.Read also: K Suites achieves new high of $2,443 psfMeanwhile, freehold boutique development Lavender Residence set a new psf-price low on November 17, with the sale of a 990 sq ft one-bedroom + studio unit on the second floor for $1.61 million. This translates to $1,626 psf.Compared to this, the previous record for Lavender Residence was $1,710 psf from the purchase of a 1,335 sq ft four-bedroom unit on the sixth floor for $2.28 million in June 2023. With this latest transaction, Lavender Residence has been fully sold for an average price of $1,984 psf.The 17-unit Lavender Residence is located at the junction of Lavender Street and Kempas Road in Boon Keng, District 12. The development incorporates three two-storey conservation shophouses built in the art-deco style in the 1940s. Its units range from studios to three-bedroom units, including dual-key variants, from 463 sq ft to 1,550 sq ft. The development is within walking distance of Bendemeer MRT Station on the Downtown Line. To find out more about the latest listings for Hill House, The Continuum, and Lavender Residence properties, simply ask Buddy. You may also compare the price trend for Condo new sale versus EC new sale and view sale transactions for Hill House. For more information on the most profitable transactions for Condo sale in District 9 and the most expensive average PSF for Condo projects in District 12, kindly visit EdgeProp.