With an amazing $2,835 psf, Sanctuary@Newton came out as the leader among condos that reach new psf-price highs between June 25 and July 5. This mark was reached on July 2 when the developer sold a 1,216 square foot, four-bedroom apartment on the 12th level for $3.45 million.
This new peak signalled the first time a unit at Sanctuary@Newton exceeded $2,800 psf. It exceeded the $2,722 psf mark set by the June 20 sale of a 1,55 square foot property for $2.87 million.
Currently under development is 38-unit freehold Sanctuary@Newton at 2 Surrey Road, District 11. Along with other facilities such Newton Food Centre and United Square Shopping Mall, this 15-storey building is walking distance from the Newton MRT Interchange Station (Downtown and North-South Lines). Two-bedders (775 to 1,023 sq ft), three-bedders (1,023 to 1,055 sq ft) and four-bedders (1,130 to 1,249 sq ft) are among the several apartment options the condo offers. In 2025, completion is expected.
Caveats lodged with URA show that Sanctuary@Newton recorded its first and only sale last year on July 26 for a 1,054 square foot unit fetching $2.71 million ($2,571 psf). Eight units, averaging $2,684 psf, have been sold thus far this year.
Another freehold construction on Holland Road, Loft@Holland, also hit a new psf-price peak during this time. On July 1, a one-bedroom, 323 square foot apartment on the fourth floor sold for $878,000, equating to $2,719 psf. This exceeds the last high of $2,691 psf achieved a year ago when another 323 sq ft unit sold for $868,888.
Having paid $720,000 for the unit in March 2017, the seller gross gained $158,000. Following the sale of a 334 square foot unit for $858,888 ($2,574 psf) on February 2, this deal was the second sales at Loft@Holland this year.
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Finished in 2014, Loft@Holland is a freehold condo in prestigious District 10 next to Holland Village. Short stroll from the Holland Village MRT Station on the Circle Line is the five-story development. It consists mostly of one-bedroom apartments (323 to 484 sq ft) with four one-bedroom-plus-study penthouses (1,044 to 1,141 sq ft).
Third among condos with fresh PSF-price peaks was Artra. On July 3, a three-bedroom apartment on the 37th floor drew $2.99 million, or 2,433 psf. It measured 1,227 sq ft. This much exceeded the last high of $2,404 psf attained by selling another 1,227 square foot flat for $2.95 million in December. It also was just the second instance in which a unit at Artra surpassed $2,400 psf.
Situated on the East-West Line in District 3, at 10 Alexandra View, next to Redhill MRT Station, Artra is a 99-year leasehold condo Designed to be finished in 2020, the project has 16 commercial lots and 400 flats within one 44-story tower. Units go from two-bedroom-plus-study (786 to 829 sq ft) and three-bedroom units (1,044 to 1,119 sq ft) to three-bedroom-plus-study units (1,227 to 1,410 sq ft) and five-bedroom flats (2,583 sq ft).
Apart from the unit sold on July 3, seven more units at Artra have been sold this year covering 786 to 1,119 square footage at an average price of $2,323 psf.
Fascinatingly, throughout this era no new psf-price lows were noted. The rising price trend emphasises the increasing demand and value appreciation in these outstanding projects.
