within seven months
Owning an executive condominium can be more cost-effective than private housing, with prices up to 25 – 30% lower, plus potential housing grants HDB Executive Condominium for first-timers. Cost aside, the choice between EC and private housing is tough.
Jervois Prive, a 43-unit boutique property development, hit a new psf-price high when a 1,109 sq ft, three-bedroom unit on the fifth floor was sold for $3.57 million ($3,220psf) on April 17. This is the highest psf-price among condos for the week of April 14 to 21. With the sale, it has beaten the previous record for Jervois Prive – a 710 sq ft, two-bedroom unit on the fifth floor, which sold for $2.13 million ($3,000 psf) on Feb 12.
The freehold condo, located on Jervois Road in prime District 10, is surrounded by the Chatsworth Park Good Class Bungalow Area and high-end condos. Nearby schools include Alexandra Primary School, Crescent Girls’ School, and Queenstown Secondary School. Jervois Prive has a mix of one- to three-bedroom units ranging from 549 to 1,389 sq ft, and was launched for sale in May 2019, with 6 units sold to date.
Other nearby freehold condos include Jervois Meadows and Dormer Park, which has seen units changing hands recently fetched average prices of $1,776 and $1,873 psf, respectively. The most expensive unit by absolute price at Jervois Prive so far is a 1,389 sq ft three-bedder that was sold by the developer for $3.91 million ($2,817 psf) on June 6, 2019.
The second highest psf-price for the week was a 1,259 sq ft unit on the sixth floor of Botanic Gardens View, sold for $3.68 million ($2,922 psf) on April 20. The previous record psf-price at the condo was for a 1,615 sq ft unit, on the first floor, that fetched $4.07 million ($2,521 psf) on Aug 5, 2019.
Botanic Gardens View, a 144-unit freehold development off Cluny Road in prime District 10, is situated near Napier MRT Station, Ion Orchard, Far East Plaza, Lucky Plaza, and Botanic Gardens. The condo features units ranging from 1,259 to 1,755 sq ft and has seen strong price growth over the last few years. In April 2013, the average psf price was $1,468, which increased to $2,588 psf in April 2021.
The transaction that fetched the lowest psf-price within the condo during the week was for an 872 sq ft, two-bedroom unit on the seventh floor of The Atelier. It was sold for $2.16 million ($2,479 psf) on April 21. The freehold development with 120 units is located at Makeway Avenue in prime District 9, near Newton MRT Station and amenities like Anglo-Chinese School (Junior), LaSalle College of the Arts (Winstedt Campus), and Newton Food Centre. The Atelier has a mix of one- to four-bedroom units ranging from 549 to 1,496 sq ft.