New Condo Price Records: A Look at Parc Esta, Leedon 2, and Sengkang Grand Residences

Parc Esta Hits New Price High

Parc Esta topped the list of condos with new price records from June 1 to 7. A 581 sq ft unit sold for $1.4 million, totalling $2,409 per square foot (psf). This two-bedroom unit on the 12th floor set a new benchmark on June 3.

The seller bought this unit from the developer in 2018 for $1.03 million ($1,775 psf), netting a tidy profit of $368,000. This transaction marks the first time a resale unit at Parc Esta has surpassed the $2,400 psf mark, breaking the previous record of $2,380 psf. That record was set just a couple of weeks earlier, on May 23, when a 958 sq ft, three-bedroom apartment sold for $2.28 million, giving the seller a profit of $700,000.

Located along Sims Avenue in District 14, Parc Esta is a 99-year leasehold condo completed in 2022. It comprises 1,399 units, ranging from one- to five-bedroom apartments and five retail shops. The development is conveniently located next to Eunos MRT Station and bus interchange. So far, in 2024, there have been 39 resale transactions at Parc Esta, with an average selling price of $2,219 psf.

Leedon 2’s Record-Breaking Sale

The second-highest price per square foot was recorded at Leedon 2. On June 7, a 764 sq ft, two-bedroom unit fetched $1.67 million ($2,183 psf). The seller, who had purchased the sixth-floor unit in February 2017 for $1.12 million ($1,466 psf), made a gain of $548,000.

This sale marked the first time a unit at Leedon 2 was transacted for over $2,100 psf. The previous record was $2,028 psf, set in May 2022 for a similar-sized unit that sold for $1.55 million.

Leedon 2 is a freehold condo located at 2 Leedon Road in the prime District 10. Completed in 1996, this development comprises 72 units, including two- and three-bedroom apartments. It’s within walking distance of Holland Village MRT Station and close to various shops, eateries, and malls like One Holland Village and Raffles Holland V.

See: Norwood Grand location

Sengkang Grand Residences Sets New Peak

Sengkang Grand Residences also hit a new psf high with the sub-sale of a 1,324 sq ft, four-bedroom apartment for $2.8 million on June 4. This translates to $2,115 psf. The seller had purchased the unit from the developer for $2.32 million ($1,752 psf) in April 2021, making a profit of $480,800.

This sale surpassed the previous high of $2,067 psf, set in July last year when a 764 sq ft, two-bedroom apartment sold for $1.58 million.

Sengkang Grand Residences is part of a 680-unit integrated development along Compassvale Bow in District 19. Completed last year, it includes the three-storey Sengkang Grand Mall and community facilities like a community club and hawker centre. The development offers direct access to a bus interchange and Buangkok MRT Station on the North-East Line. The condo comprises nine 13-storey blocks, with units ranging from one-bedroom-plus-study apartments at 474 sq ft to four-bedroom apartments at 1,313 sq ft.

Final Thoughts

The recent transactions at Parc Esta, Leedon 2, and Sengkang Grand Residences highlight the rising property prices and the lucrative potential of real estate investments in Singapore. Whether you’re a potential buyer or an investor, these record-breaking sales offer valuable insights into the current market trends.

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