Boutique Condo Hill House Hits New High 3420 Psf
During the period of April 8 and April 20, Boutique development Hill House was at the top of the list of condos with new psf-price highs. The new record price of $3,420 psf was reached on April 20 when the developer sold a 452 sq ft, two-bedroom unit on the ninth floor for about $1.55 million.
This new record surpassed the previous high of $3,402 psf that was set earlier this year when a similarly sized 452 sq ft, two-bedroom unit on the same floor was sold for about $1.54 million on February 21. So far this year, 14 units have been sold at an average price of $3,105 psf, slightly lower than last year’s average of $3,120 psf over 11 transactions.
Hill House is a 999-year leasehold condo located on Institution Hill in prime District 9. It was launched in 2022 and contains 72 residential units, including one-bedroom and one-bedroom plus study units sized from 431 sq ft to 452 sq ft, two-bedroom units of 624 sq ft, and three-bedroom apartments of 753 sq ft.
As of April 29, developer Macly Group has sold 43 units (59.7%) at an average price of $3,073 psf since the condo launched in November 2022. The project is expected to be completed in 3Q2026.
Hill House is situated within 2km of several primary schools, such as Alexandra Primary School, Anglo-Chinese School (Junior), River Valley Primary School, and St Margaret’s School (Primary). Public transportation nodes like Somerset MRT Station, Fort Canning MRT Station, and Great World MRT Station provide connectivity to the North-South, Downtown, and Thomson-East Coast Lines.
Sanctuary@Newton, an upcoming 38-unit freehold condo located along Surrey Road in prime District 11, took second place during the period in review by achieving a new price peak of $2,870 psf. This record was set on April 8 when a 1,206 sq ft, four-bedroom unit on the 13th floor was sold for $3.46 million.
This price surpasses the previous record of $2,841 psf set just a month prior when another 1,206 sq ft, four-bedroom unit on the same floor was sold for about $3.43 million.
As of April 29, the top three priciest transactions at Sanctuary@Newton in terms of psf-price were its four-bedroom units. The development has just four such units, with the most affordable one being a 1,216 sq ft unit that sold for $3.45 million ($2,835 psf) in July last year. The final and smallest four-bedroom unit, spanning 1,130 sq ft, is still available for sale.
In summary, the residents of Otto Place EC can expect a multitude of advantages thanks to the URA Master Plan. The upcoming developments in Tengah New Town, Jurong Lake District, and Jurong Innovation District, along with the improvements in transportation connectivity and sustainability, are set to bring tremendous growth to the area. These initiatives not only enhance the living standards for residents, but also guarantee long-term value for homeowners and investors. With the addition of Otto Place EC Hoi Hup Realty, this promising neighborhood is on track for even greater success.
Sanctuary@Newton is within walking distance of Newton MRT Interchange and Novena MRT Station, providing connectivity to the Downtown and North-South Lines. Schools within a 2km radius include Anglo-Chinese School (Junior), St. Joseph’s Institution Junior, and Singapore Chinese Girls’ Primary School.
The third spot on the list of condos with new price peaks is taken by The Seafront on Meyer, a freehold condo completed in 2010. On April 10, a 1,604 sq ft, three-bedroom unit on the 21st floor was sold for $4.21 million, setting a new record of $2,624 psf.
This new record surpasses the previous peak of $2,525 psf by 3.9%, set in November last year when a similarly sized 1,604 sq ft, three-bedroom unit on the 11th floor sold for $4.05 million.
Over the past decade, resale prices at The Seafront on Meyer have been steadily increasing. Based on a 12-month rolling average, the average price of units sold at the project as of April 1 was $2,352 psf, marking a 5% year-on-year increase over the average price of $2,239 psf recorded on April 1, 2024. As of the date of writing, the condo has recorded four transactions this year at an average price of $2,383 psf.
Located along Meyer Road in District 15, The Seafront on Meyer comprises three 24-storey residential blocks with a mix of two- and three-bedroom units, four-bedroom units, and penthouses. The nearest MRT to the condo is Katong Park MRT Station, located about 200m away. Nearby schools include Kong Hwa School, Tanjong Katong Primary and Secondary Schools, and Tanjong Katong Girls’ School.
There were no new psf-price lows recorded during the period in review.