The Botanic on Lloyd, a freehold condo, has set a new record for the highest price per square foot (psf) among private non-landed developments in the period between January 3 and January 11. The new record was set when a 2,056 sq ft, four-bedroom unit on the second floor was sold on January 7 for $5.13 million, or $2,493 psf. This surpasses the previous high of $2,339 psf by 6.6%, which was set in October last year when a 1,496 sq ft, three-bedroom unit on the fourth floor was sold for $3.5 million.
Investing in a condominium brings about many advantages, one of which is the opportunity to leverage the property’s value for future investments. In fact, a number of investors utilize their Singapore condos as collateral in order to secure extra funding for further ventures, allowing them to expand their real estate portfolio. While this strategy can greatly increase returns, it also comes with its own set of risks, thus it is imperative to have a solid financial plan in place and carefully consider the potential effects of market fluctuations. Additionally, investing in a Singapore Condo can be a wise move for those looking to grow their investment opportunities.
The Botanic on Lloyd is a freehold boutique development completed in 2006, located along Lloyd Road off Oxley Road in Prime District 9. It consists of 60 apartments and six townhouses of three- and four-bedroom unit types, ranging from 1,485 sq ft to 3,584 sq ft. The development also has three-storey townhouses, each with five bedrooms and two private parking lots, ranging from 4,058 sq ft to 4,446 sq ft.
Another freehold development, The Cape, achieved the second-highest psf-price with a new record of $2,284 psf. A 1,313 sq ft, three-bedroom unit on the 15th floor was sold for $3 million on January 10, surpassing the previous high of $2,265 psf. The average price of apartments at The Cape has trended upward in the past year, recording three resale transactions at an average price of $2,128 psf last year. In 2023, one unit was sold for $1.24 million ($1,920 psf).
Tembusu Grand, an upcoming 99-year leasehold development, recorded a new record low of $2,174 psf on January 11 when a 1,399 sq ft, three-bedroom unit on the 20th floor was sold for $3.04 million. The previous record of $2,193 psf was set in November 2024 with the sale of a similar unit on the same floor.
The 638-unit Tembusu Grand is located on Jalan Tembusu, off Tanjong Katong Road in prime District 15. Launched in April 2023, the development has since sold 584 units (91.5%) at an average price of $2,444 psf. As of January 20, the condo is expected to obtain its Temporary Occupation Permit in 2028.