Pullman Residences Newton sets a new high of $3,671 per square foot
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In the condominiums that reached new highs in psf in the time period from May 23-June 2 Pullman Residences Newton made the top list after its sale of a single-bedroom penthouse that was sold on the 29th of May. The apartment, which was 463 square feet was purchased to developer developer at $1.7 million or $3,671 per square foot. It is higher than the previous record of $3,515 per square foot recorded on April 13, when an apartment of 667 square feet was sold for $2.34 million. This is the first time that an acquisition at the condo has exceeded the $3,600 threshold.
Pullman Residences Newton is a freehold development situated on Dunearn Road in prime District 11. It comprises the 340 units. The project is by EL Development, it is situated just 150m of Newton MRT Station. The apartment block of 30 stories will offer hospitality services by Pullman Hotels & Resorts which include concierge services as well as a doorman, and an attendant in the lounge of the club.
The project offers a variety of one-to four-bedroom homes with sizes ranging from 463 sq feet to 1,389 square feet. Since the project’s launch in November the developer is selling 296 homes (87%), based on caveats filed with URA on 13 June. The project is scheduled for completion in the second quarter of this year.
Grange Residences is a different development which has reached a new psf highest following the sale of a four-bedder that was 2,669 square feet at the top of its eighth floor was sold for $8.88 million, or $3,327 per square foot in May. The sale comes just two months following the previous highest price of $3,321 which was achieved through selling a 2583 sq. ft apartment in the price of $8.58 million in March. This is also a record level in terms of the absolute value of the condo, surpassing prior records for $8.7 million ($3,050 per square foot) for the 2,852 sq ft unit which was sold in the month of July 2021.
Grange Residences is a freehold development situated at the intersection of Grange Road and Tanglin Road in District 10. It was designed by the previous Wheelock Properties (now Wharf Estates Singapore) and was completed in 2004. The condominium is comprised of three blocks of residential units that are 18 stories high, and houses an average in 164 homes. They have four bedrooms in all with sizes ranging from 2,486 sq feet to 2,852 square feet.
On the other side in the range, Park Nova saw a record-breaking psf-price during the time under review. On the 24th of May the 1,432 square foot unit located on seven floors was purchased to Park Nova’s developer at $6.19 million, or $4,324 per square foot. The sale of the two-bedroom-plus-study unit marks the lowest transaction at the development on both an absolute price as well as price psf basis. The previous low occurred in February, following the sale of another two-bedroom-plus-study unit measuring 1,432 sq ft for $6.26 million ($4,371 psf).
Park Nova is an ultra-luxury condo with 54 units owned by Hong Hong Kong listed developer Shun Tak Holdings. It is located at the intersection between Orchard Boulevard and Tomlinson Road in District 10 and is located near shopping malls like Tanglin Mall and luxury hotels such as St Regis Singapore and Conrad Singapore Orchard. The units are comprised of two- to four-bedroom apartments that range between 1,432 square feet and 2,906 square feet. There are three duplex penthouses that have five bedrooms which range between 3,229 and 5,899 sq feet.
Based on caveats filed in caveats, According to caveats filed, 48 (89%) of units in Park Nova have been sold for an average of $4,892 per square foot after the development was launched in May 2021. In the beginning, the development was the subject of a lot of attention when five units were snapped up following the opening of auction on May 7, 2021. Two of them were those duplex penthouses. The biggest penthouse, which was 5,899 square feet was sold for $34.44 million ($5,838 per square foot) that established a new record in this area. Orchard Boulevard area and remains the most expensive transaction in the development. The second penthouse, which was 4,499 square feet, was was sold to a buyer for $26 million ($5,784 per square foot).
Park Nova is slated to be completed by 2024.