$3,245 is a new psf pricing record for a two-bedroom at The M

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Kassia Hong Leong Holdings

In the list of condominiums that reached the new high of psf prices between Dec 3 and 27, 2022, the M by Wing Tai Holdings came in first with it was a 592 square foot 2 bedroom unit sold for $1.92 million ($3,245 per square foot) on the 24th of December.

The previous record at the site was established by the sale of 764 square feet, two-bedder, for $2.44 million ($3,193 per square foot) in October 2022.

Kassia Hong Leong Holdings will feature 280 residential units on a 150,840 sq ft plot in various configurations ranging from one to four bedrooms.

The M comprises a development of 522 units situated on Middle Road in the Bugis district. The development was announced over the weekend of February 22-23 in 2020, just prior to Singapore’s “circuit breakers” measures to stop the Covid-19 pandemic began to take effect.

However, despite concerns regarding the outbreak at the time the project did well in the initial phase of sales with more than 360 units (70%) were sold with an average cost of $2,450 per square foot. The developer said that the enthusiastic reaction of customers to their central position and the attractive style of overall building.

The M is located in the middle of North Bridge Road and Beach Road The M is located close to shopping centres like Buis Junction, the Intercontinental Singapore, Raffles Hotel, South Beach integrated development, and Suntec City. The development is also within major revitalization projects that will help to boost growth in the Beach Road area, such as the Guoco Midtown integrated development.

Based on the most recent developer information According to the latest developer data, the project is completely sold out and has a total taking-up of 95% at the time of November 2022.

Another top chart during the time to be reviewed was a brand newly developed project, Van Holland, located in the District 10 area of prime importance. On the 23rd of December 7,10 square feet two-bedroom home was offered to developer developer at $2.29 million ($3,237 per square foot). This was more than the previous record which was set by the purchase of a 797 square foot two-bedder at $2.47 million ($3,106 per square foot) on July 6, 2022.

Van Holland is a freehold luxury development by developers Koh Brothers. The boutique development of 69 units was officially launched to be sold in January 2020. The first take-up rate for the project was relatively low approximately 10-units (15%) sold during the first weekend of January 11-12. Based on the most up-to-date developer figures The project has racked up the average price for sales of $2,907 per square foot and a total take-up rate of around 55%.

However, Sloane Residences saw a record-breaking psf-price when an 1,249 sq ft three-bedroom home was purchased to a buyer for $3.46 million ($2,664 per square foot) on the 16th of December. The previous record low was established by the purchase of a 1,249 square foot three-bedroom home in September for $3.34 million ($2,677 per square foot) in September, 2020.

The project was developed through TSky Development, a joint partnership between developers Tiong Seng and Ocean Sky International. Tiong Seng holds a 60% stake in Ocean Sky International.

The latest psf-price drop in Sloane Residences comes on the basis of its temporary occupancy permit (TOP) obtained in the month of November 2022. The freehold development is a 12-storey condo located along Balmoral Road in prime District 10 and houses 52 units of residential space.

According to the most recent developer sales figures that was submitted URA, the latest developer sales data has been submitted. URA, Sloane Residences is 82.7% sold and has an average price for sale of $2,902 per square foot.

Based on property information collected by EdgeProp Based on property data compiled by EdgeProp, the development is one of the top average prices of selling for its location. As an example, the median selling price of the neighboring Goodwood Grand is about $2,526 per square foot, while the Freehold Volari is averaging price for sale of $2,494 per square foot. Other developments such as The Hyde, which was completed in the year before, have sales of $2,998 per square foot. The forthcoming luxury project Perfect Ten has seen units sell for around $2,968 per square foot.

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