Top new psf-price highs achieved in recent condo transactions
The sale of a two-bedroom unit at Hill House has captured the attention of the real estate market as it topped the list of private condos with a new psf-price high from Feb 7 to 16. The 999-year leasehold development located at the top of Institution Hill, off River Valley Road, saw a record-breaking peak price of $3,398 psf when the 452 sq ft unit on the eighth floor was sold by the developer for $1.54 million on Feb 16.
This transaction has marginally surpassed the previous peak of $3,378 psf set on Feb 11 when another 452 sq ft, two-bedroom unit on the eighth floor was sold for $1.53 million. Hill House, a 72-unit boutique condo launched in 2022, comprises of 40 one-bedroom units of 431 sq ft, 24 two-bedroom apartments ranging from 452 sq ft to 624 sq ft, and eight three-bedroom apartments spanning 753 sq ft.
The recent sale at Hill House has stirred up interest and led to a surge in enquiries for the latest New Launches. Interested buyers can search for the available units and transaction prices.
According to URA caveats, 37 units (51.4%) at Hill House have been sold at an average price of $3,152 psf since its launch in November 2022. The development is currently under construction and is expected to be completed in 3Q2026. Eight units have been sold at Hill House since the start of the year, with an average price of $3,190 psf. Among these transactions is the most expensive unit sold so far at the development which is a 753 sq ft, three-bedroom apartment that was sold for $2.39 million on Jan 5.
The Tresor, a 99-year leasehold condo located on Duchess Road in District 10, came in second on the list of condos that achieved new psf-price highs during the period in review. A 1,421 sq ft unit on the fifth floor was sold for $3.73 million, setting a new high of $2,625 psf on Feb 10. This beat the previous psf-price high of $2,501 which was set in March 2024 when a 1,399 sq ft, three-bedroom unit on the second floor was purchased for $3.5 million.
The resale transaction on Feb 16 is the first at The Tresor in a year, based on caveats lodged. The most recent resale deal at the condo was the sale of a 1,399 sq ft unit that fetched $3.5 million ($2,501 psf) on March 4, 2024.
Completed in 2007, The Tresor is a 62-unit development that comprises a mix of two-, three-, and four-bedroom apartments ranging from 990 to 2,896 sq ft.
Jadescape, a 99-year leasehold development that was completed in 2022, takes the third spot on the list with a new psf-price high of $2,459 psf set on Feb 7. A 1,647 sq ft, four-bedroom unit on the 22nd floor was sold for $4.05 million, surpassing the previous record of $2,446 psf set in January.
The most expensive resale unit at Jadescape to date is a 4,230 sq ft, six-bedroom penthouse that was sold for $10.2 million ($2,399 psf) in December 2024. Located at the junction of Marymount Road and Shunfu Road, Jadescape comprises 1,206 units across seven residential towers. The development offers one- to five-bedroom apartments ranging from 527 sq ft to 2,099 sq ft, as well as two penthouses of 4,230 sq ft.
Data compiled on EdgeProp Research indicates that Jadescape commands one of the highest average transacted prices among condos within a 1km radius. In the last 12 months, the average transacted price for Jadescape units stood at $2,192 psf. Other condos in the vicinity, such as the Tresalveo on Marymount Terrace, 183 Longhaus on Upper Thomson Road, and Thomson V Two on Sin Ming Road, have average transacted prices ranging from $1,712 psf to $1,912 psf over the same period. All three condos are freehold developments.
No new psf-price lows were recorded during the period in review. Interested buyers can check out the latest listings for Hill House, The Tresor, and Jadescape properties.