Avalon hits new high of $2,436 psf

The property has viewed a fairly lowered amount of resale purchases. The unit marketed on July 19 is the first residence to switch hands at the development to date this year. In 2022, only three units were worked out, while four units were transacted the year before. However, Avalon has actually viewed a steady increase in negotiated rates. Based on information put together on the EdgeProp Singapore market patterns study tool, annual average costs transacted at the project have risen from $1,871 psf in 2020 to $2,436 psf as of 2023, a surge of 30%.

The purchase tops the past psf-price high logged just a week earlier on July 13, when a 517 sq ft unit at Parc Clematis fetched $1 million, or $1,935 psf. Parc Clematis is a residential mega-development at present under building and construction and stands around Jalan Lempeng in the Clementi estate in District 5.

Dormer Park was finished in 1993 by Hong Leong Holdings with 92 residential units. Apartments make up two- to four-bedders in between 1,227 as well as 2,540 sq ft. The property development is one of several premium condominiums that line Jervois Road, including the 109-unit Mon Jervois plus the 108-unit Jervois Lodge. It is in addition within the area of the Bishopsgate-Chatsworth Good Class Bungalow enclave. No new psf-price lows were documented during the time frame in review.

Avalon is a property development by CapitaLand that was completed in 1999. It has actually 82 residences housed in two 10-storey blocks. Typical units consist of 2-, 3- as well as four-bedders between 958 and also 2,292 sq ft. There are also four penthouse units in between 4,122 and 5,220 sq ft.

The Hill @ One North floor plan

Avalon, an estate development on Anderson Roadway, off Stevens Roadway in District 10, topped the lineup of condos that observed a new psf-price high around July 18 and 21. This was attained with the profit of a 1,765 sq ft, three-bedroom unit on the 3rd floor for $4.3 million, or $2,436 psf, on July 19.

A different development that hit a new psf-price high is Dormer Park, a property condo on Jervois Road in prime District 10. A three-bedroom apartment on the fourth floor evaluating 1,668 sq ft unit shifted hands for $3.35 million, or $2,008 psf, on July 19. This is the first unit transacted at the project above the $2,000 psf benchmark, surpassing the previous document of $1,873 psf registered in May 2022 when a 1,668 sq ft unit was realized $3.125 million.

Established by SingHaiyi Group, the 99-year leasehold project comprises 1,450 units throughout 9 24-storey residential tower blocks, 12 units of two-storey strata terraced residences and six units of two-storey strata bungalows. The development was introduced available for sale in August 2019. Based on cautions lodged as of Aug 1, the property is about fully sold with 1,445 residences (99.7%) taken up. The project is slated for completion by this year.

Parc Clematis likewise attained a brand-new psf-price high following the sale of an 883 sq ft unit for $1.85 million, or $2,096 psf, on July 20. The three-bedroom unit on the 15th level was a sub-sale and also is the first unit negotiated at rates over $2,000 psf. The vendor of the unit had actually acquired it from the developer in October 2019 for $1.453 million ($1,646 psf), which means they got a return of $397,000 or 27% on the sale.

The exchange marks the first time the project has actually crossed the $2,400 psf point, and beats the former high of $2,338 psf started November 2022 when a 1,668 sq ft unit switched hands for $3.9 million. Based on signs lodged with URA, the unit sold on July 19 had actually been acquired by the vendor in April 2016 for $2.46 million ($1,394 psf). This indicates they made a gain of $1.84 million (75%) on the transaction.

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