The $3.55 million ($2,892 psf) sale of a 1,227 square foot, three-bedroom apartment in Goodwood Grand

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Read more: The present floor space of the shophouses is 10,318 square feet

The present floor space of the shophouses is 10,318 square feet

The purchase of a 1,227 sq ft three-bedroom apartment in Goodwood Grand for $3.55 million ($2,892 per square foot) in June was the top of the list of recent psf-price highests between June 16 and June 23. The previous record price for psf of Goodwood Grand had only been set on April 20 of this year, when a three bedder similar to the one that was sold was sold at $3.45 million ($2,812 per square foot).

Goodwood Grand Goodwood Grand a freehold condominium located situated on Balmoral Road in prime District 10. A joint venture of Tong Eng Group (50%) The Ng Family of Clarus Corp (20%) and mainboard-listed construction company Tiong Seng Holdings (30%) The development was completed in the year 2017.

The 75-unit development includes 65 condo units within seven 13-storey blocks as well as eight bungalows in strata. The condos comprise made up of two to four-bedroom units that range from 775 sq ft up to 3,111 sq ft. bungalows range located between 5,167 square feet to 5,479 sq feet.

A mixture of high-end luxury condos as well as landed housing Enclaves are the hallmark of Balmoral Road. Balmoral Road neighbourhood. The nearby Freehold development comprise Volari located on Balmoral Road, Balmoral Crest, Balmoral Spring and Goodwood Gardens on Balmoral Crescent. Landed homes in the vicinity comprise Goodwood Hill and the Good Class Bungalows located at Nassim Road and White House Park.

Based on URA restrictions, Goodwood Grand recorded a rise in sales following the completion of the project in June. The project was only 44% from the entire project was sold in the previous month and sales increased significantly over the next three months, resulting in an overall taking-up of 85% in August 2017.

One of the most costly condo units in Goodwood Grand was a 3,111 square feet, four-bedroom unit located on the 12th floor. It was offered by developers to the developer for $6.5 million ($2,089 per square foot) on March 14, 2014. It was followed by the 2,142 sq ft three-bedroom unit located on the 12th floor, which was auctioned off at $4.69 million ($2,190 per square foot) at the time that the developer was able to sell it in October of 2017.

The biggest strata bungalow in Goodwood Grand, measuring 5,479 sq feet it was purchased in the month of June for $7 million ($1,278 per sq ft). Two additional bungalows measuring 5,231 square feet have sold for $6.95 million ($1,329 per sq ft) both when sold during the month of October in 2017.

In the secondary market Goodwood Grand commands the highest median price for condos in the Balmoral region, which is around $2,771 per square foot. The average price at Volari, Balmoral Crest and Goodwood Gardens were $2,493 psf 2,004 psf and 2,233 per sq ft and $2,233 psf, respectively. The just finished Sloane residences located on Balmoral Road fetched an average cost of $2,859 per sq ft.

The building that scored the second-highest psf-price that week is Adria which is a boutique condominium situated on Derbyshire Road in Novena. A two-bedroom, 850 square feet unit was purchased to a buyer for $1.85 million ($2,171 per square foot) on the 21st of June. This is higher than the previous psf price highest at Adria that was recorded just four months earlier when a 1,302 square foot 3-bedroom apartment was bought at $2.6 million ($2,002 per square foot) on Feb. 16.

Adria can be described as an 105-unit condominium that was built in 2015. It is a single 19-story residential tower that is comprised of one-to four-bedroom apartments that range between 538 square feet to 1,496 square feet.

The property is situated within the Novena district, which is adjacent to St. Joseph’s Institution Junior on Essex Road. The condo is located close to the main shopping malls in the vicinity, including United Square and Novena Square located at Thomson Road, Square 2 located at Sinaran Drive and Royal Square located at Irrawaddy Road. It is also near Health City Novena, between Moulmein Road and Irrawaddy Road which is a planned healthcare district that will include Tan Tock Seng Hospital at Jalan Tan Tock Seng, Ren Ci Hospital at Irrawaddy Road and various healthcare facilities. The area is well connected with Newton Road, Moulmein Road and Thomson Road, while the closest station can be found at Novena MRT Station on the North-South Line.

Based on a calculation of resale-related caveats compiled by EdgeProp Singapore, the median price at Adria has been constant over the last few years, ranging from $1,854 in July 2020 to $1,909 per SF this month.

However the property has a good rental yield and leases that range between $3.70 psf/month (pm) up to $6.90 per square foot pm. The condo has an average rent of $5.50 per sq ft, which translates into a rental yield of around 3.2%. The rental transactions of this year reveal that units were let for a range of $3,600 a night ($6.55 per sq ft) up to $4500 per hour ($6.92 per square foot).

Adria’s investment focus Adria is evident in its ownership structure, that, according to records of purchases is comprised of 54% residents as well as 37% foreigners. The remainder being held by permanent residents as well as businesses.

In the meantime, the purchase of the 743 square feet, two-bedroom condo in Botanique at Bartley set a new highest for the condominium when it was purchased at $1.5 million ($2,020 per square foot) on the 19th of June. It’s the first time that a property that was resold at Botanique at Bartley has been sold at a price of more than $2,000 per square foot. Prior to this, the most expensive unit was 732 sq. ft two-bedder which was purchased at $1.34 million ($1,828 per square foot) on September 12 this year.

Botanique Bartley is an 99-year leasehold condo located situated on Upper Paya Lebar Road in Serangoon in District 19. The condo was built by the mainboard-listed property group UOL which finished 797 units in the year 2019. The development includes one- to three-bedroom apartments that range from 495 sq ft to 1,270 square feet.

The property’s Bartley location is within easy access to neighbourhood hubs as well as railway stations. Botanique located at Bartley is just 200 meters away from Bartley MRT Station located on the Circle Line One station away from Serangoon MRT Interchange Station on the North-East and Circle Lines. Other stations nearby are Tai Seng MRT Station on the Circle Line and Woodleigh MRT Station on the North-East Line.

In the last two years, the resales prices for Botanique in Bartley have increased from $1,568 per square foot in July 2021, to $1,732 psf in July.