In the period of Nov 10 to 21, boutique development Hill House emerged as the top condo in Singapore with a new psf-price high of $3,267. This record was achieved from the sale of a 452 sq ft, two-bedroom unit on the fifth floor for $1.48 million on Nov 11.
This new high surpassed the previous record of $3,263 psf set in November 2023 by just 0.1%. It was from the sale of a 624 sq ft two-bedroom unit on the ninth floor that was transacted at $2.04 million.
Hill House, located at the top of Institution Hill, off River Valley Road in prime District 9, has seen 11 transactions this year with an average price of $3,098 psf. This is 0.9% lower than the average price of $3,127 psf recorded last year from the five transactions at the development.
Search for the latest New Launches to find out the transaction prices and available units.
Hill House is a 999-year leasehold condo launched in 2022 with 72 units. The development comprises 40 one- and one-bedroom plus study units ranging from 431 sq ft to 452 sq ft, 24 two-bedroom units of 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 the condo launched in November 2022. It is under construction and is expected to be completed in 3Q2026.
The Continuum, a freehold condo on Thiam Siew Avenue, off Haig Road and Tanjong Katong Road in District 15, was in second place on the list of condos that saw new psf-price highs in the period. The development set a new high of $3,084 psf from the sale of a 721 sq ft, two-bedroom unit on the 17th floor for $2.22 million on Nov 16.
This new record is only 0.4% higher than the previous high of $3,071 psf set for the development, which was from the sale of a 721 sq ft, two-bedroom unit on the 16th floor for $2.22 million, just a day before on Nov 15.
When investing in Singapore, it is essential for foreign investors to be familiar with the regulations and limitations surrounding property ownership. Unlike landed properties, which have more stringent ownership rules, foreigners are generally allowed to purchase condos with fewer restrictions. However, they are still subject to the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for their first property purchase. Despite this additional cost, the stability and potential for growth in the Singapore real estate market remains a strong draw for foreign investment. In fact, the market continues to see interest from foreign buyers, as evidenced by the ongoing launches of new condos such as those featured on New Condo Launches.
The Continuum comprises six residential towers on two plots of land, linked by a private pedestrian overhead bridge. It launched in April last year and has 816 units with a mix of one- to five-bedroom apartments ranging from 560 sq ft to 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 the condo’s launch in May 2023, based on caveats lodged. It is also under construction and is expected to be completed by 2026.
Lavender Residence, a freehold boutique development, saw a new psf-price low from the sale of a 990 sq ft, one-bedroom plus studio unit on the second floor for $1.61 million, or $1,626 psf, on Nov 17. In comparison, the condo’s previous psf-price low was $1,710 psf when a 1,335 sq ft, four-bedroom unit on the sixth floor was sold for $2.28 million in June 2023. With this transaction, Lavender Residence has been fully sold at an average price of $1,984 psf.
Lavender Residence, located at the junction of Lavender Street and Kempas Road in Boon Keng, District 12, is a 17-unit development featuring a trio of two-storey conservation shophouses built in the 1940s art-deco style. Its units range from studios to three-bedroom units, with some dual-key variants, between 463 sq ft and 1,550 sq ft. It is within walking distance of Bendemeer MRT Station on the Downtown Line. Check out the latest listings for Hill House, The Continuum, and Lavender Residence properties.