Recently, the largest penthouse at Park Nova has been sold, setting a new record price for the development. The 5-bedroom unit on the 20th floor spans 5,899 sq ft and was purchased by the developer for $38.888 million, equivalent to $6,593 psf, according to a caveat lodged on Jan 21 on the URA Realis database.
This transaction marks the highest price ever recorded for a unit at Park Nova in terms of both absolute price and psf-price. The previous records were held by a 4,499 sq ft penthouse which was sold in May 2021 for $26.026 million, equivalent to $5,784 psf.
The recent sale has also set the second-highest psf-price for a condo unit in Singapore. The current record-holder is a unit at The Marq on Paterson Hill, which was sold in 2011 for $20.54 million, equivalent to $6,650 psf.
The Park Nova penthouse that was sold on Jan 21 is believed to be part of a collection of properties linked to a $3 billion money laundering case, which have been put up for sale. The penthouse was previously reported to have been sold in 2021 for $34.438 million, equivalent to $5,838 psf.
According to caveats lodged, the developer has sold three units at Park Nova within a month. On Jan 17, a four-bedroom apartment spanning 2,906 sq ft on the 19th floor was sold for $16.59 million ($5,708 psf). Prior to that, on Dec 27, a four-bedroom unit measuring 2,896 sq ft on the 18th floor was sold for $15.99 million ($5,522 psf).
Park Nova is a freehold luxury condo situated at the junction of Orchard Boulevard and Tomlinson Road in prime District 10. Developed by Hong Kong’s Shun Tak Holdings, the development received its temporary occupation permit in November last year. For more information on the latest listings for Park Nova, please visit EdgeProp’s New Launches page.
In addition, readers can also ask EdgeProp’s AI-powered virtual assistant, Buddy, to show them the site plan and diagrammatic chart for Park Nova, as well as compare the price trends of Condo new sales versus EC new sales. They can also generate price trend graphs for new launch condos in District 10 and check out the project summary for Park Nova condo.
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