Watergardens at Canberra hits new high of $1,434 psf
Over the past week (February 21 to 28), The Esta, a freehold condo, saw a two-bedroom unit top the list of private condos that achieved a new psf-price high. The unit, which measures 1,001 sq ft, was sold for $2.38 million, setting a new psf-price record of $2,377 on February 26. The sellers of the seventh-floor unit had purchased it for $1.83 million in March 2021, earning a profit of about $545,000.
This sale surpassed the previous record price at The Esta, which was set at $2,317 psf when a three-bedroom unit on the 13th floor changed hands for around $3.2 million in January 2020. The average resale price of condos at The Esta has been steadily rising over the past three years. In 2020, the project recorded 10 transactions at an average psf-price of $2,012. The following year, the average price climbed to $2,156 across nine resale transactions. Last year, another nine units were resold at an average price of $2,248 psf, reflecting an 11.7% increase in average resale prices since 2020.
The most expensive unit sold at The Esta was a five-bedroom apartment on the 21st floor, measuring 3,477 sq ft, which was sold for $6.25 million, or $1,798 psf, in October 2020.
The Esta is a freehold development with 400 units spread across five residential blocks along Amber Gardens. Completed in 2008, this District 15 condo offers two- to four-bedroom apartments, ranging from 1,001 sq ft to 1,711 sq ft, as well as penthouses spanning from 2,368 sq ft to 3,477 sq ft. Located within walking distance of Tanjong Katong MRT Station on the Thomson-East Coast Line, The Esta is also near popular lifestyle hubs such as Katong Shopping Centre and Katong V.
Claiming second place for the highest new psf-prices achieved during the review period was the 99-year leasehold condo D’Leedon. The development set a new psf-price record of $2,287 when a 1,421 sq ft, three-bedroom unit on the 29th floor was sold for $3.25 million on February 25. This sale slightly surpassed the previous record for a smaller 1,367 sq ft, three-bedroom unit, which sold for $3.04 million, or $2,222 psf, on February 26. The previous record price at D’Leedon was set at $2,180 psf, when a 2,110 sq ft, four-bedroom unit was sold for $4.6 million in October 2020.
Since the start of this year, 11 units have been sold at D’Leedon, with an average price of $2,065 psf. The lowest psf-price recorded this year was for a 743 sq ft, one-bedroom unit on the 10th floor, which was sold for $1.41 million, or $1,898 psf, on February 13.
Located in District 10, along Leedon Heights, D’Leedon was completed in 2014, offering 1,703 units ranging from one- to four-bedrooms, with sizes from 592 sq ft to 6,534 sq ft. The development is within walking distance of Farrer Road MRT Station on the Circle Line and is close to Empress Road Market and Food Centre.
Citylights, a 99-year leasehold condo located along Jellicoe Road in Kallang, District 8, rounded out the top three developments with the highest new psf-prices recorded during the review period. OnFebruary 27, an 893 sq ft, two-bedroom unit on the 26th floor was sold for $1.98 million, setting a new psf-price record of $2,216. This transaction surpassed the previous record of $2,122 psf, set in December 2020 when an 872 sq ft, two-bedroom unit on the 16th floor was sold for $1.85 million. The sellers of the 26th-floor unit had purchased it for about $1.44 million in April 2019, earning a profit of about $542,000.
Citylights, completed in 2007, offers 600 units ranging from one- to four-bedrooms and sizes from 560 sq ft to 3,875 sq ft. Just a one-minute walk from Lavender MRT Station, the condo is also close to dining and retail options, including Aperia Mall and Kitchener Complex, which are within a 300m radius.
No new psf-price lows were recorded during the review period.…