The Lincoln Residences achieves new high of $1,990 psf
SINGAPORE (EDGEPROP) - This week, we look at projects that have hit new highs in terms of psf, and those that have crossed new lows, based on URA Realis data for the week of July 7 to 11.
The Lincoln Residences
A project that has achieved a new high this week was The Lincoln Residences. The 99-unit, 27-storey, freehold condominium block at Surrey Road saw a 1,367 sq ft, three-bedroom unit on the ninth floor change hands for $2.72 million, according to a caveat lodged on July 9. This works out to $1,990 psf, which is an all-time-high for the development, which was completed in 2011. The buyer had purchased the unit for $1.5 million ($1,098 psf) from developer Sim Lian Group back in April 2009.
The Lincoln Residences comprises three- and four-bedroom apartments as well as penthouses, with sizes ranging from 1,281 sq ft to 3,337 sq ft. The project was completed in December 2011.
Located in the Newton area in prime District 11, the property is close to the Newton MRT Station, which is an interchange for both the North-South and Downtown Lines. The property is also close to Newton Food Centre, as well as shopping malls such as United Square, Velocity at Novena Square and Square 2, which are also linked to the Novena MRT Station.
Photo: Samuel Isaac Chua / EdgeProp Singapore
The 1,862-unit Normanton Park was considered the best-selling project in 1H2021, having sold 51% of its units to date. The latest transaction was for a 581 sq ft, one-bedroom unit on the 23rd floor of one of the 24-storey blocks, which fetched $1.1 million, according to a caveat lodged on July 11. The unit also hit a new high of $1,899 psf for the development.
Normanton Park, which is developed by Chinese developer Kingsford Huray Development, was launched in January this year, and is the largest project launch of 2021. The development has nine 24-storey blocks containing a total of 1,840 apartments and 22 strata landed villas. There is also a row of eight strata commercial units that are open for sale.
The project is located in the city-fringe neighbourhood of District 5, next to Science Park Drive, where the Science Parks are, and near one-north, where Biopolis and Mediapolis are located. It is also next to Kent Ridge Park and the Southern Ridges, and near the future Greater Southern Waterfront.
Photo: 448@East Coast
The development that saw a new low in terms of psf during the period is the boutique development at 448@East Coast. It was for the recent transaction of a 1,109 sq ft, two-bedroom unit on the top floor of the five-storey block on East Coast Road. The unit changed hands for $1.2 million, or $1,084 psf, according to a caveat lodged on July 7.
The project was developed by Tee Land, and was completed in 2013. Located in prime District 15 at the East Coast, the property is near popular schools such as Tao Nan School, CHIJ Katong Convent Primary and Secondary and St Patrick’s School.
The development achieved a high of $1,579 psf, when a 431 sq ft, one-bedroom apartment on the fourth floor changed hands for $1.2 million last September.
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