Waterfall Gardens reaches new high of $2,175 psf

: URA

During the week of May 19 to 23, three condo developments achieved new psf-price highs. Waterfall Gardens topped the list with a 1,830 sq ft, three-bedroom unit on the fifth floor fetching $3.98 million, or $2,175 psf. This exceeded the previous high of $2,150 psf set in November 2022 when a four-bedroom penthouse measuring 4,037 sq ft was sold for $8.68 million. The seller in the May 19 transaction had purchased the apartment in August 2015 for $2.75 million ($1,503 psf), which is a 45% gain on the sale.

District 23 is home to The Myst CDL located in Hillview. It is a hip area full of dining and dining options, great malls, and entertainment venues. The popular Bukit Panjang Plaza is located here, along with the Bukit Panjang Market and Food Centre and Greenridge Shopping Center. Surrounding areas such as the nearby Bukit Timah Nature Reserve offer a welcome retreat from busy city life. District 23 is a vibrant and diverse area with something to offer everyone.

Located along Farrer Road in District 10, Waterfall Gardens is a freehold 132- unit development completed in 2010. It comprises of three 12-storey towers and residences come in a mix of three- and four-bedroom apartments ranging from 1,829 to 2,583 sq ft, as well as 12 penthouse units spanning 3,380 to 4,844 sq ft.

Also hitting a new psf-price high was Bartley Ridge with the sale of a three-bedroom-plus-study unit measuring 1,173 sq ft on the 15th floor selling for $2.2 million ($1,875 psf) on May 23. This beats the previous record of $1,843 psf set in February when a 1,302 sq ft unit on the fifth floor was sold for $2.4 million. Bartley Ridge is located off Bartley Road in District 13 and is a 99-year leasehold development completed in 2016. It consists of 868 units – a mix of one- to four-bedroom apartments between 441 and 2,121 sq ft, as well as 10 penthouses of 1,550 to 1,701 sq ft and 40 townhouses of 2,056 to 2,347 sq ft.

Also witnessing a new psf-price high was Affinity at Serangoon with the sub-sale of a two-bedroom-plus-study unit measuring 732 sq ft for $1.35 million ($1,844 psf) on May 22. This surpasses the previous high set in August 2022 by the sale of a 624 sq ft unit for $1.15 million or $1,842 psf. The 1,052-unit condo is a 99-year leasehold development located along Serangoon North Avenue 1 in District 19. It is a redevelopment of Serangoon Ville and units come in one- to four-bedroom units of 474 to 1,711 sq ft, in addition to 10 penthouses of 1,550 to 1,701 sq ft and 40 townhouses of 2,056 to 2,347 sq ft. Since its launch for sale in June 2018, the project has seen 1044 (99%) units taken up at an average price of $1,494 psf.

No new psf-price lows were recorded during the period in review. Despite this, buyers should still take into account other factors before making a purchase, including the size and location of each respective development.

Waterfall Gardens, Bartley Ridge and Affinity at Serangoon are just some of the many developments that have seen strong demand during the past 12 months. This could be, in part, due to the abundance of options available in the market as 1,080 private new homes was sold in July, the highest in 2020, according to the Urban Redevelopment Authority. With the right amount of research, buyers can be sure to find the perfect development to call home.