Zenith Sets a New Record
The week of June 7 to 14 saw Zenith, a 999-year leasehold condo, setting a new benchmark. A 743 sq ft, two-bedroom unit was sold for $1.77 million, translating to $2,383 per square foot (psf). This sale, noted on June 11, marks the first time a unit at Zenith has crossed the $2,300 psf mark. The previous record was $2,262 psf for a similar unit sold at $1.68 million in October last year.
Zenith is located on Zion Road in District 10. It is a 13-storey tower completed in 2011 with 85 units. It’s just opposite the Great World City shopping mall and the nearby Great World MRT Station on the Thomson-East Coast Line. The units range from one- and two-bedrooms between 474 and 1,130 sq ft, with a few three-bedroom penthouses sized between 2,454 and 2,497 sq ft.
J Gateway Joins the Highs
J Gateway also made headlines with a new high of $2,187 psf. A 700 sq ft, two-bedroom unit on the 26th floor was sold for $1.53 million on June 10. The previous record for J Gateway was $2,126 psf, set in September 2023, when a 484 sq ft, one-bedroom unit sold for $1.03 million.
Completed in 2016, J Gateway is a 99-year leasehold condo in District 22’s Jurong East. It comprises 738 apartments ranging from one to four bedrooms (484 to 2,024 sq ft). It’s conveniently located near the Jurong East MRT Station and adjacent to Westgate Mall and Jem shopping centre.
See: Norwood Grand at Champions Way
Thomson Three Breaks Its Own Record
Thomson Three achieved a new high with the sale of a 1,044 sq ft, three-bedroom apartment for $2.26 million ($2,163 psf) on June 11. The seller had initially purchased the unit for $1.45 million ($1,384 psf) in December 2014, earning a tidy profit of approximately $810,000. This surpasses the previous high set on April 23, when a 732 sq ft two-bedroom unit sold for $1.56 million ($2,130 psf).
Located in District 20 along Bright Hill Drive, off Upper Thomson Road, Thomson Three is a 99-year leasehold development completed in 2016. It comprises 435 condo units spread across 21 storeys, with unit sizes ranging from 495 to 1,485 sq ft. Additionally, there are 10 strata semi-detached houses, each measuring 3,283 sq ft.
No New Lows Recorded
Interestingly, no new psf-lows were recorded during this period, indicating a steady or rising market trend for these developments.
In summary, the recent condo sales have highlighted a significant uptrend in the real estate market, with new psf-price highs achieved at Zenith, J Gateway, and Thomson Three. This surge reflects the growing demand and value of prime residential properties in Singapore.
