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A new high of $2,594 psf is reached in Tribeca

A new high of $2,594 psf is reached in Tribeca

Tribeca, a freehold development on Kim Seng Road in District 9 near Grand Dunman, had the highest new psf price between October 31 and November 7. This comes after Grand Dunman floor Plan announced a one-bedroom, 517-square-foot unit on the 25th floor sold on November 2 for $1.34 million, or $2,594 psf. A 517-square-foot unit sold for $1.33 million on October 31, setting a record price of $2,574 per square foot. The new high price came just one week after the announcement of the Grand Dunman Price.

The person who sold the flat on November 2 had bought it in June 2010 for $982,300, which is about $1,901 per square foot. This means that the deal made them a gross profit of $358,000.

Over the past few years, Tribeca has seen a consistent number of resale transactions, which has contributed to a rise in psf prices. There have been seven resale transactions recorded at the condo to date this year based on caveats lodged, with units sold at an average price of $2,455 psf. Nine units in Tribeca changed hands in 2022, with an average price per square foot of $1,813.

AMO Residence also achieved a new psf-price high during the period in review following the sale of a 2,293 sq ft penthouse unit for $5.6 million, or $2,443 psf, on Nov 3. On the 25th floor, the developer has sold a unit with four bedrooms. In July 2022, another 2,497-square-foot penthouse at AMO Residence sold for around $6 million, setting a new record of $2,406 per square foot.

There are 372 condo units at AMO Residence in District 20’s Ang Mo Kio Rise. The two 25-story towers make up the 99-year leasehold development. A variety of two- to five-bedroom apartments between 614 and 1,475 square feet in size are available. Additionally, there are three penthouses, each ranging in size from 2,293 to 2,497 square feet. The building is expected to be finished in 2026.

On July 23, 2022, the project went on the market, making history as the first new condo to be built in Ang Mo Kio in more than eight years. There was a great deal of interest, and 98% of the condos were sold on the first day they went on the market. As of the 21st of November, caveats submitted to URA revealed that only one unit, a 2,293-square-foot penthouse, was still available for purchase.

Yong An Park, a freehold development on River Valley Road in District 9, is another development with a new psf price high. A four-bedder on the 20th floor measuring 3,434 sq ft changed hands for $8.3 million, or $2,417 psf, on Nov 3. The price per square foot for this deal in Yong An Park is higher than the previous record set in January 2020, when a 1,023 square foot unit sold for $2.43 million.

Belgravia Ace Showflat is open for online booking. You can now register online to receive direct developer discount offers and prices.


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