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The highest price per square foot (psf) was paid for a one bedroom property at One Pearl Bank in the Outram area of District 3 between July 12 and July 24. The developer CapitaLand sold the 560 sq ft unit on the 36th floor with a 99-year leasehold for $1.66 million, or $2,959 psf, on July 13.
One Pearl Bank is made up of two residential towers with 39 floors that are connected at the tops by sky bridges. There are a total of 774 units, some with one bedroom, some with two, some with three, and some with four. The sizes range from 430 to 2,800 square feet.
Outram Park MRT Station, which connects the East-West, NorthEast, and Thomson-East Coast Lines and will be done in 2023, is a three-minute walk from One Pearl Bank via a covered walkway. This station is where the North East, East-West, and Thomson-East Coast Lines meet. The Singapore General Hospital Campus, which is part of the Outram estate, is also close to the condo.
Since the project started in July 2019, 40 percent of the units at One Pearl Bank have been sold at an average price of $2,424 psf, according to caveats.
The project is a makeover of the Pearl Bank Apartments, which were Singapore’s first residential high-rise building when they were finished in 1976. In February 2018, CapitaLand bought the site for $728 million.
Peak Residence hit New High of $2,872psf
Peak Residence, which is on Thomson Road in the Novena area of District 11, is another building that set a new psf price high. On July 24, developer Tuan Sing Holdings sold a one-bedroom apartment that was 560 sq ft and cost $1.61 million ($2,872 psf). The apartment that was sold is on the fifth floor.
Peak Residence is a freehold building with three low-rise blocks that hold 90 apartments. Units range in size from 528 to 1,389 square feet and have anywhere from one to four bedrooms.
The development looks out over the landed housing estate along Chancery Hill Road and Dyson Road from a higher spot. The Novena MRT Station on the North-South Line, which is connected to the Velocity@Novena Square and Square 2 shopping malls, is just a few minutes’ walk away. Nearby is also the United Square shopping mall.
So far, caveats show that 38 percent of the units at Peak Residence have been sold for an average of $2,459 psf. The project is expected to be finished in 2025.
The price per square foot (psf) at Grandview Suites hit a new low on July 22 when a 958-square-foot unit on the fifth floor sold for $862,200, or $900 psf. This is the lowest price per square foot (psf) that the development, which was finished in 2016, has ever been.
Grandview Suites Hit New price low of $900psf
Grandview Suites is a freehold mixed-use building in District 14 that sits on the corner of Geylang Road and Lorong 22 Geylang. The five-story building has 52 apartments and eight shops on the ground floor.
SingPost Centre, PLQ Mall, and Paya Lebar Square are all a short drive from Grandview Suites. Along Geylang Road, there are a lot of restaurants and other services close by, and the Aljunied MRT Station on the East-West Line is only a seven-minute walk away.