Reaching $2,612 per square foot (psf), Freehold Residences @ Killiney broke a record for condo prices during the period of August 8 to 16. This mark was reached on August 12 when a 1,550 square foot, three-bedroom apartment on the third floor sold for $4.05 million. Originally buying the flat for $3.27 million ($2,108 psf) in June 2013, the seller made a net profit of around $781,888. Set in March 2023 when a 1,625 sq ft apartment was resold for $3.95 million, this new price per square foot is 7.5% more than the previous record of $2,430 psf.
Comprising a boutique freehold apartment complex on Killiney Road in District 9, River Valley, Residences at Killiney is Finished in 2012, the development consists of 68 two- to four-bedroom homes with sizes ranging from 1,553 sq ft to 6,749 sq ft. Still a sought-after address, conveniently close to River Valley Primary School and Somerset MRT Station, this home is walkable.
Another interesting change in District 9, Yong A Park on River Valley Road, also attained a fresh psf-price high over the same period. Selling for $8.6 million, a 3,434 square foot, four-bedroom apartment on the 13th floor translates to $2,505 psf. Having paid $1.88 million for the unit in July 1998, the seller realised a large net gain of $6.72 million. This new record exceeds the previous high of $2,470 psf achieved in April 2023, when a comparable-sized flat on the 12th floor was resold for $8.48 million.
Recent years have seen consistent price increase in Yong A Park. Four apartments have sold thus far this year at an average of $2,399 psf, over 7% more than the average of $2,238 psf last year. Adjacent to the Great World MRT Station, the freehold condo has 288 one- to four-bedroom units with sizes ranging from 1,023 sq ft to 3,678 sq ft and bigger penthouses and townhouses.
During this time Parc Esta, a 99-year leasehold property in Geylang’s District 14, likewise recorded a new psf-price record. Selling for $2.33 million, or $2,432 psf, a 958 square foot, three-bedroom apartment on the 14th level produced a profit of $790,000 for the buyer paying $1.54 million ($1,608 psf) in December 2018. With a 581 square foot two-bedroom apartment sold for $1.4 million, netting the seller $368,000, this new record beats the previous highest of $2,409 psf achieved on June 3.
Comprising 1,399 units ranging from one- to five-bedroom homes as well as five retail stores, Parc Esta is set to be finished in 2022. Comprising 57 selling transactions this year with an average price of $2,217 psf, the complex sits across from the Eunos MRT Station and bus interchange.
