Leedon Green Sets Record High 3475 Psf
The resale of a 1,496 sq ft, four-bedroom unit at Leedon Green on March 7 for $5.2 million, or $3,475 psf, is the highest recorded psf-price to date for this development. The sellers had previously bought the unit from the developer for $3.99 million, or $2,665 psf, in June last year. This translates to a profit of around $1.21 million. Leedon Green is a freehold development in District 10 that comprises 638 units spread across seven 12-storey blocks. It offers a mix of one- to four-bedroom apartments, ranging from 474 sq ft to 2,680 sq ft in size. Completed in 2023, it boasts a convenient location within walking distance to Holland Village MRT Station and a variety of dining and entertainment options in Holland Village. With an average selling price of around $2,946 psf over the last 12 months, Leedon Green commands the highest average selling price among freehold developments in the Farrer Road area. Its closest contenders are Leedon Residence and Hyll on Holland, which have average selling prices of $2,724 psf and $2,766 psf, respectively. The transaction with the second-highest psf price during this period was recorded at Volari, a freehold condo on Balmoral Road. On March 13, a 2,174 sq ft, four-bedroom apartment sold for $5.85 million, or $2,690 psf. This marks the first time a unit in the development has crossed the $2,500 psf mark. The seller, who purchased the ninth-floor unit for $5.44 million ($2,500 psf) in 2012, made a profit of around $415,000. Completed in 2012, Volari has 85 units ranging from two- to four-bedroom apartments, with sizes ranging from 1,324 sq ft to 2,745 sq ft. It also has three penthouse units ranging from 3,950 sq ft to 6,168 sq ft. Located in prime District 10, Volari is a four-minute walk from Balmoral Plaza and is in close proximity to Anglo-Chinese School (Primary). Coming in third on the list of highest psf prices is Urbana, where a 1,012 sq ft, two-bedroom unit was sold for $2.7 million, or $2,668 psf, on March 12. This marks a new record for the development, beating the previous high of $2,574 psf. The unit was purchased for around $1.8 million ($1,779 psf) in 2016, earning the seller a profit of $900,000. Completed in 2007, Urbana has a total of 126 units, including two- to four-bedroom apartments ranging from 1,012 sq ft to 3,229 sq ft. Located in District 9, it boasts convenient access to lifestyle hub New Bahru and Great World MRT Station along the Thomson-East Coast Line. It is also close to River Valley Primary School. There were no recorded psf price lows during this period.
During the week of March 7 to 14, Leedon Green has once again taken the top spot for private condos with the highest psf-price. The development saw a new peak of $3,475 psf with the sub-sale of a 1,496 sq ft four-bedroom unit for $5.2 million on March 7. The previous record price for the project was $3,471 psf, set in January last year with the sale of a 1,356 sq ft three-bedroom unit by the developer for $4.71 million. The sellers of the seventh-floor unit had bought it from the developer in June 2020 for around $3.99 million, or $2,665 psf. This means they made a profit of about $1.21 million.
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Leedon Green is a freehold development completed in 2023. Comprising seven 12-storey blocks, it offers a total of 638 units ranging from one- to four-bedroom apartments, with sizes from 474 sq ft to 2,680 sq ft. Located along Leedon Heights in District 10, it is in close proximity to a diverse selection of F&B and entertainment options in Holland Village, as well as Holland Village MRT Station on the Circle Line. The development commands the highest average selling price among freehold projects in the Farrer Road area, with an average price of around $2,946 psf over the last 12 months. Its closest competitors are Leedon Residence and Hyll on Holland, which have average selling prices of $2,724 psf and $2,766 psf respectively.
Coming in second on the list of highest psf price is Volari, a freehold condo on Balmoral Road. A 2,174 sq ft, four-bedroom unit was sold for $5.85 million, or $2,690 psf, on March 13, marking the first time a unit in the development has crossed the $2,500 psf threshold. The seller, who bought the ninth-floor unit in November 2012 for $5.44 million ($2,500 psf), earned a profit of around $415,000. In terms of absolute price, the most expensive unit sold at Volari was a 6,168 sq ft penthouse, which fetched $10 million ($1,621 psf) in December 2012.
Completed in 2012, Volari boasts 85 units ranging from two- to four-bedroom apartments with sizes of 1,324 sq ft to 2,745 sq ft, as well as three penthouse units ranging from 3,950 sq ft to 6,168 sq ft. It is within a four-minute walk of Balmoral Plaza and close to schools such as Anglo-Chinese School (Primary).
Rounding up the top three is Urbana, which saw a new psf-price high with the sale of a 1,012 sq ft, two-bedroom unit for $2.7 million, or $2,668 psf, on March 12. Based on caveats lodged, the 31st-floor unit was purchased in August 2016 for $1.8 million, or $1,779 psf, thus earning the seller a profit of $900,000. This surpassed the previous record of $2,574 psf achieved in December 2022 when a 1,313 sq ft, three-bedroom unit sold for around $3.38 million.
Completed in 2007, Urbana boasts 126 units in two- to four-bedroom apartments ranging from 1,012 sq ft to 3,229 sq ft. Located along River Valley Close in District 9, it is close to lifestyle hub New Bahru, Great World MRT Station, and River Valley Primary School.
No psf-price lows were recorded during the period in review.