Sea View Sets New Psf Price Record 2710
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In the week of Feb 28 to March 7, The Sea View, a freehold condo, reached a new peak of $2,710 psf, making it the top private non-landed property on the list. On March 4, a 1,410 sq ft, three-bedroom unit on the 20th floor was sold for $3.82 million, setting the new record.
This surpasses the previous high of $2,624 psf from September last year when a 1,647 sq ft, four-bedroom unit on the 20th floor was resold for $4.32 million. The recent sale at $2,710 psf on March 4 (Photo: Samuel Isaac Chua/EdgeProp Singapore) was a profit of approximately $1.6 million for the seller who had bought the unit for $2.22 million or $1,574 psf in February 2017.
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The Sea View, located on Amber Road in District 15, was completed in 2008 with six 22-storey blocks and a total of 546 units. The units range from one-bedroom (527 sq ft to 560 sq ft), three-bedroom (1,216 sq ft to 1,410 sq ft) and four-bedroom (1,518 sq ft to 1,647 sq ft). There are also four-bedroom penthouses (2,196 sq ft to 2,723 sq ft) and five-bedroom penthouses (2,809 sq ft to 2,928 sq ft).
In the same period, Tribeca, another freehold condo, also hit a new record price per square foot. On March 7, a 517 sq ft, one-bedroom unit was sold at $2,648 psf, amounting to $1.37 million. The seller, who paid $2,419 psf or $1.25 million in November 2021, gained about $118,000. This is the second time a unit at Tribeca has crossed the $2,600 psf mark, beating the previous high of $2,613 psf set in April 2024 when a similar 517 sq ft, one-bedroom unit changed hands for $1.35 million.
Tribeca, completed in 2010, is located along the Singapore River with 175 units ranging from studio to four-bedroom (517 sq ft to 1,905 sq ft) and penthouse units (2,174 to 3,907 sq ft). It is a four-minute walk from Great World MRT Station on the Thomson-East Coast Line.
Madison Residences, on the other hand, saw a new psf-price high with the resale of a 1,464 sq ft, three-bedroom unit on the fourth floor at $3.8 million, or $2,596 psf, on March 3. The previous highest price was set in December 2022 at $3.4 million ($2,321 psf) for a similar unit. This was the first transaction since December 2022 and the first unit to surpass $2,500 psf at the freehold development.
Based on caveats, the unit was purchased at $2.42 million or $1,650 psf in September 2009. This means the seller gained $1.38 million on the transaction. Madison Residences, completed in 2012, on Bukit Timah Road in District 10 has 56 apartments, ranging from three- and four-bedroom units (1,464 sq ft to 3,218 sq ft) and two duplex penthouses (4,407 sq ft). It is a six-minute walk from Stevens MRT Station, which also connects to the Downtown and Thomson-East Coast Lines. Other amenities include Balmoral Plaza and Orchard Road.
For the period under review, there were no new low psf-prices recorded.