Sea View Sets New Psf Price Record 2710
In the week of February 28 to March 7, The Sea View emerged as the top private non-landed property with a new psf-price peak. The freehold condominium achieved a record high of $2,710 psf on March 4 when a 1,410 sq ft, three-bedroom unit on the 20th floor was sold for $3.82 million.
This new record surpasses its previous high of $2,624 psf set in September last year, when a 1,647 sq ft, four-bedroom unit on the 20th floor was resold for approximately $4.32 million. The recent sale at $2,710 psf was for a unit that was purchased by the seller in February 2017 for around $2.22 million, or $1,574 psf. This means that the seller has made a profit of about $1.6 million in just over eight years of owning the apartment.
The Sea View, located on Amber Road in District 15, was completed in 2008 and comprises of six 22-storey blocks with a total of 546 units. The development offers one-bedroom units ranging from 527 sq ft to 560 sq ft, three-bedroom units from 1,216 sq ft to 1,410 sq ft, and four-bedroom units from 1,518 sq ft to 1,647 sq ft. There are also four-bedroom penthouses of 2,196 sq ft to 2,723 sq ft and five-bedroom penthouses spanning 2,809 sq ft to 2,928 sq ft.
Another freehold condominium, Tribeca, also achieved a new psf-price high during the same period. A 517 sq ft, one-bedroom unit was resold for about $1.37 million or $2,648 psf on March 7. The seller had bought the 26th-floor unit in November 2021 for $1.25 million, or $2,419 psf, resulting in a gain of about $118,000. This marks the second time a unit at the development has crossed the $2,600 psf mark, beating the previous high of $2,613 psf set in April 2024 when a similar unit was sold for $1.35 million.
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Tribeca, completed in 2010, is located along the Singapore River in District 9. It offers 175 units, ranging from studio to four-bedroom units of 517 sq ft to 1,905 sq ft. The condo also includes penthouses spanning from 2,174 to 3,907 sq ft. It is a four-minute walk from Great World MRT Station on the Thomson-East Coast Line, and is also close to River Valley Primary School.
The third on the list, Madison Residences, also saw a new psf-price high with the resale of a 1,464 sq ft, three-bedroom unit on the fourth floor for $3.8 million, or $2,596 psf on March 3. This beats the previous price peak of $2,321 psf set in December 2022 when a similar unit sold for $3.4 million. It also marks the first transaction since December 2022 and the first time a unit at the freehold development has crossed the $2,500 psf mark.
Madison Residences, completed in 2012, is located along Bukit Timah Road in District 10 and comprises of an 18-storey tower with 56 apartments. The units are a mix of three- and four-bedroom units ranging from 1,464 sq ft to 3,218 sq ft. There are also two duplex penthouse units of 4,407 sq ft. The condominium is a six-minute walk from Stevens MRT Station, offering accessibility to the Downtown and Thomson-East Coast Lines. It is also near lifestyle hubs such as Balmoral Plaza and Orchard Road.
During the review period, there were no recorded psf-price lows. Interested buyers can check out the latest listings for The Sea View, Tribeca, and Madison Residences.