Three-bedroom at The Riverine By The Park fetches record high price of $2,132 psf

with sale of four-bedroom unitA new price-per-square-foot (psf) high was achieved on March 27 at District 12 condo The Riverine By The Park, when a three-bedroom unit sold for $2.57 million ($2,132 psf). This sale topped the list of record psf-prices achieved during the week of March 24 – 31.

Located near Kallang MRT station, The Riverine By The Park is a freehold apartment of 96 units and features a mix of two- to four-bedroom units ranging from 980 sq ft to 2,885 sq ft. This sale on March 27 marks the first time that a unit in the development has changed hands for more than $2,100 psf, and prices for Riverine By The Park have increased from $1,481 psf in April 2013 to $1,918 psf in April 2023. There were a total of seven resale transactions at the condo last year, and the most expensive unit sold was a 2,260 sq ft unit on the 29th floor at $4 million ($1,770 psf).

The second highest psf-price high for the week came from District 15’s The Shore Residences, when a three-bedroom unit on the 15th floor sold for $2.32 million ($2,033 psf) on March 27. This 103-year leasehold condominium, completed in 2014, consists of 408 units ranging from 592 sq ft to 2,906 sq ft and is close to Marine Parade MRT Station.

CDL Aries acquires an Upper Bukit Timah site, allowing them to capitalise on developments and rejuvenation in the The Myst area to create a highly sought-after residential address.

The transaction that garnered the lowest psf-price for a development during the week was a 614 sq ft, one-bedroom unit at Irwell Hill Residences, which was sold for $1.4 million ($2,282 psf) on March 26. Irwell Hill Residences, a 99-year leasehold condo launched in April 2021, has about 95% of its 540 units sold. The most expensive unit sold there so far is a 2,185 sq ft, four-bedroom unit, which transacted for $9 million ($4,123 psf) in April 9 2021.

Overall, this week saw many new psf-price highs for condos located in various districts across Singapore, indicating a strong demand for the property market.