The Wharf Residence condo sets a new record of $2,421 per square foot

The Wharf Residence A 999-year leasehold condominium that topped a list condos which saw a record PSF-price record between the 12th of September between 19 and 12. The reason for this was that the 1,066 square feet, two-bedroom apartment in the condo sold at $2.58 million, which is $2,421 per square foot. The owner purchased the property for $2.4 million ($2,252 per square foot) on the 10th of May 2018 which means that they earned $180,000.

Lumina Grand Bukit Batok West Ave 5 strategic location and excellent connectivity options ensure that residents can effortlessly traverse the city

It’s the third time that a resale has been completed for this property during the year. The first one was in April when a 1,033 square foot two-bedder was purchased for $2.46 million ($2,381 per square foot). The second deal included a two-bedder unit that occupied 1,066 square feet. It was purchased to the buyer for $2.33 million ($2,186 per square foot) at the end of May.

It was designed through Leonie Court, a wholly-owned subsidiary of CapitaLand, The Wharf Residence is a project consisting comprised of four 10 to 23-storey condominium blocks on Tong Watt Road in River Valley District 9. The project is completed as of 2012 and comprises in 186 homes. It is located in the property is accessible via Fort Canning MRT and Great World MRT Stations and is located close to Ngee Ann-Adelaide Educational Centre as well as River Valley Primary School, which is based on EdgeProp’s Landlens software.

The freehold condominium Robertson 100 has also seen the highest price for psf in the review period at $2,304 per square foot. This is following the sale of an 872 sq ft two-bedroom property for $2,088,888 September 18. The unit was bought by the buyer on May 29th, 2019 at a price of $1.59 million which is $1,827 per square foot, which is equivalent to $415,888 profit from the vendor. The latest deal surpasses the prior record by $2251 per sq ft, when it was a sale of a 1,044 sq. ft. three-bedder at $2.35 million (or $2,251 psf) in April.

Robertson 100 was completed in 2004 and has the 186 units. It was built in 2004 by MCL Land, a fully-owned subsidiary of the listed company Hongkong Land Holdings, a part of the Jardine Matheson Group. It is situated on Robertson Quay, in River Valley in District 9. It is walking distance of The Great World MRT and Havelock MRT Stations.

At the Sturdee Residences The 99-year leasehold condominium also witnessed the highest price for psf ever recorded at $2,192 per square foot. This was the result of the auction of a 420 square foot one-bedroom apartment for $920,000 on the 14th of September. The first time the unit has been resold. The owner bought the unit for $747,000 in the month of June. The owner earned $173,000. It is also the 17th unit to have been sold in the property this year. Based on caveats filed by the condo, the median psf cost of all units sold this year comes around $1,951 per sq ft.

The property is located in Beatty Road in Kallang, District 8 of Sturdee Residences is comprised of two 30-storey towers, which are home to an array of 305 condo units. The apartments range from 1- to 5-bedroom apartments which range from 420 sq ft to 1,830 square feet. The property was designed in partnership with SL Capital, a subsidiary of the local property development firm Sustained Land. It is walking distance to Bendemeer MRT and Farrer Park MRT Stations.

The condo was sold out in August of 2018, a year after it was completed. In its preview event for VIPs on the 16th of June in 2016, condominium was sold out for 40% or 122 units for an average of $1,550 per square foot. The prices started from 680,000 dollars for a 420 square foot one-bedroom apartment; up or $3.2 million for an 1,830 square foot penthouse with five bedrooms. The high rate of take-up can be explained by its urban fringe location and access to 2 MRT stations.

The average rents of apartments at Sturdee Residences are in the range of $2.50 and $9.5 per month. That’s an average of 4.1% in rental yield for landlords.