ATTRACTIVE PROPERTIES NEAR SKY VUENew update of psf-price high and low at Sky VueSky Vue achieves new high of $2,366 psf
The 694-unit Sky Vue in District 20 has set a new record of $2,366 psf for a 1,141 sq ft, three-bedroom unit that changed hands for $2.7 million on Aug 22. This marks the first time a unit at the condo has crossed the $2,300 psf threshold. The previous high at Sky Vue was $2,225 psf, set by a similar-sized three-bedroom unit sold for $2.54 million.
Completed in 2016, the 99-year leasehold condo comprises two 37-storey towers with units ranging from one to three bedrooms and sizes between 484 sq ft and 1,259 sq ft. It is located along Bishan Street 15, within walking distance to Junction 8 at Bishan Place, which offers a variety of retail amenities. The mall is linked to Bishan MRT Station on the North-South Line and the Circle Line, and is directly across from the Bishan Bus Interchange. The condo has also seen a total of 19 resale transactions at an average price of $2,104 psf this year.
Another condo that has achieved a new high for the week of Aug 16 to 23 is The Promont, a freehold boutique development located along Cairnhill Circle in Newton, District 9. A 2,077 sq ft, three-bedroom unit on the 17th floor set a new record when it was sold for $4.5 million on Aug 16. The seller had previously purchased the unit for $3.8 million in November 2017, making a profit of $700,000 on the transaction. The new high is just 0.2% higher than The Promont’s previous record of $2,161 psf, set when a 2,013 sq ft, three-bedroom unit changed hands for $4.35 million in April 2021.
Liv on Sophia, a freehold boutique condo in Rochor, District 9, recorded a new low for psf-price during the period in review. A 710 sq ft, two-bedroom unit was sold for $1.2 million, translating to $1,689 psf. This is lower than the condo’s previous record of $1,888 psf, when a 678 sq ft, two-bedroom unit fetched $1.28 million in June 2021. The seller had bought the unit from the developer for $1.54 million ($2,265 psf) in June 2013, incurring a loss of $256,000 on the recent transaction. Liv on Sophia has only seen two transactions this year, with the other unit being a 678 sq ft, two-bedroom unit sold for $1.35 million ($1,991 psf) on Aug 16.
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The popularity of Singapore Condo is largely due to the limited land availability on the island, which has a high population density. The government has implemented strict policies for land use, resulting in a highly competitive real estate market. As a result, property prices have continuously surged, making investing in a Singapore Condo a highly profitable venture for potential investors. With the current market conditions, those looking to invest in a Singapore Condo can expect excellent returns on their investment.
Overall, Sky Vue, Promont, and Liv on Sophia are all highly sought-after residential properties with various amenities and easy access to public transportation, making them attractive investments for buyers.