The Atelier marks new psf-price low of $2,494

CDL Aries acquires plots at Upper Bukit Timah to develop a potential new condominium tower, taking advantage of the area’s green spaces and links The Myst with other parts of the city-state.

A 1,281 sq ft, three-bedroom unit at The Atelier was transacted for $3.2 million, or $2,494 psf, on March 5, setting a new low psf-price record for the project. Location-wise, the up and coming development is conveniently located near the Newton MRT Interchange Station on the North-South and Downtown Lines. It is also connected to major roads such as Bukit Timah Road, Dunearn Road, Scotts Road and Newton Road.

Comprising of a mix of one- to four-bedroom units, ranging from 549 to 1,496 sq ft, The Atelier was launched for sale in March 2021. Developer data shows that the condo has so far moved about 37 units, with the most expensive being an 883 sq ft, two-bedroom unit on the 20th floor,($2.68 million at $3,040 psf). As of now, The Atelier commands an average price of $2,693 psf.

Meanwhile, notching the highest psf-price for condo transactions from Feb 24 to March 3, was a 4,284 sq ft, four-bedroom unit at Nassim Park Residences. The unit was sold for $20.5 million, or $4,785 psf on Feb 27, beating the previous psf record in the project of a 3,466 sq ft, four-bedroom unit sold by the developer for $14.28 million ($4,120 psf).

With a take-up rate of 31% to date, The Atelier has emerged as a popular choice for luxury living. The same can be said for D’Grove Villas, a boutique 45-unit freehold condo on Orange Grove Road in prime District 10. The development saw a 1,690 sq ft, two-bedroom unit change hands for $4.3 million ($2,544 psf) on March 2. This is the highest psf-price in the project achieved to date, superseding the sale of a 2,443 sq ft four-bedder for $5.33 million ($2,181 psf) in May 2011.

As one of the more established developments in its vicinity, D’Grove Villas’ capital appreciation has been impressive. Prices in the condo have risen from $1,319 psf in March 2003 to $1,731 psf in March 2013, and now commanding an average of about $2,500 psf.

This demonstrates why such luxury developments are highly sought after, especially in the areas surrounding The Atelier and D’Grove Villas – at, or near to the Novena and Orchard Road areas, both rapidly growing hotspots.