8M Residences Sets New Price High 2384 Psf

In the week of Feb 1 to 7, 8M Residences topped the list of private condos that achieved a new psf-price peak. The freehold development recorded a new high of $2,384 psf when a 646 sq ft, two-bedroom unit on the 15th floor was sold for $1.54 million on Feb 3. This marks the first time that a unit at 8M Residences has been sold for more than $2,300 psf. The sale surpasses the previous record of $2,261 psf set in April 2023 when a similar unit on the 11th floor was sold for $1.46 million. Another unit at the development was also sold during the same period, surpassing the April 2023 record. On Feb 3, a 527 sq ft, one-bedroom unit on the 11th floor was transacted for $1.2 million ($2,275 psf). The most expensive unit sold at 8M Residences is a 1,841 sq ft, three-bedroom unit that was sold for $2.85 million ($1,548 psf) in October 2012. According to resale data, 8M Residences has consistently seen an increase in prices over the last three years. The average price of units at the condo has risen by 7.3% based on a 12-month rolling average, from $2,028 psf in February 2022 to $2,177 in February 2025. 8M Residences is a 20-storey residential tower with 68 units. It offers a mix of one- to three-bedroom units ranging from 517 to 1,421 sq ft, as well as four penthouses from 1,184 to 1,841 sq ft. Located within walking distance of various amenities such as EtonHouse International Research Pre-School, Katong Swimming Complex, and Katong Park MRT Station, the development has been highly sought after by buyers.Coming in second on the list of condos that achieved a new psf-price peak is Kovan Jewel, a freehold condo located along Kovan Road in District 19. On Feb 7, a 1,076 sq ft, three-bedroom unit on the second floor was sold for $2.41 million ($2,236 psf), setting a new high for the development. This transaction surpasses the previous record set in August 2022 when a similar unit on the fourth floor was sold for $2.4 million ($2,228 psf). Completed last year, Kovan Jewel is a boutique condo with 34 units ranging from one- to three-bedroom units from 624 to 1,345 sq ft. It also has four-bedroom penthouses from 1,237 to 2,153 sq ft. As of Feb 18, 17 units (50%) at Kovan Jewel have been sold at an average price of $2,111 psf, with nine units sold last year at an average price of $2,111 psf. The unit sold on Feb 7 is the first unit sold this year.On the other hand, Oleanas Residence, a freehold condo located along Kim Yam Road in District 9, took third place on the list of condos that achieved a new psf-price peak. On Feb 3, a 1,141 sq ft, three-bedroom unit on the sixth floor was sold for $2.52 million ($2,207 psf), setting a new high for the development. The previous record was set in August 2022 when a 1,238 sq ft, three-bedroom unit was sold for $2.67 million ($2,157 psf). The most expensive unit sold at Oleanas Residence is a 1,636 sq ft, three-bedroom unit that was sold for $3.3 million ($2,017 psf) in December 2022. Completed in 1999, the development has only had four resale transactions in the last three years. It offers units ranging from 1,141 to 1,550 sq ft, with four-bedroom units being the biggest. Oleanas Residence is located within walking distance of two MRT stations, namely Great World MRT Station on the Thomson-East Coast Line and Fort Canning MRT Station on the Downtown Line. Its close proximity to various educational institutes such as River Valley Primary School and Outram Secondary School also adds to its appeal.

The URA Master Plan has recently revealed various improvements to enhance Singapore’s transport infrastructure, bringing great advantages to the residents of Otto Place EC. One highly anticipated project is the Jurong Region Line (JRL), an MRT line designed to enhance connectivity in the western region. At a convenient walking distance, the upcoming Tengah Plantation MRT station will be easily accessible for Otto Place EC residents, providing seamless access to the MRT network. With direct connections to major hubs like Jurong East, Choa Chu Kang, and Boon Lay, the JRL will greatly facilitate the commuting needs of residents, whether for work, school, or leisure activities. Additionally, these developments will further enhance the accessibility and convenience of living in Otto Place EC. Know more about Otto Place EC and its prime location within the city.