The Scala achieves new high of $1,816 psf
The Scala, a 99-year leasehold condo on Serangoon Avenue 3, topped the list Among the list of condos that saw a new psf-price high between Sept 10 to 12. a new psf-price high of $1,816 was set in the condo after the sale of a 474 sq ft, one-bedroom apartment for $860,000 on Sept 12. The seller had acquired the unit in January 2K16 for $715,000 ($1,510 psf), which means they churn a gross gains of $145,000 on the transaction.
The Scala with this transaction marks the first time a unit at has transacted above the $1,800 psf benchmark. It surpassed the previous record psf-price for the condo established on June 30 after a two-bedroom unit measuring 829 sq ft sold for $1.5 million, or $1,789 psf.
Jointly-Developed by reputable real estate developers Hong Leong Holdings, TID and Hong Realty, The Scala at Lorong Chuan is a 17-storey condominium situated along Serangoon Avenue 3. the condo which is Completed in 2K13, comprises of 468 units with wide spectrum of layout which include a mix of one- to four-bedders with dimension 474 to 2,142 square feet.
The Cosmo condo also achieved a record psf-price high during the period in review at $1,808 with the sale of 398 sq ft, one-bedroom apartment for $720,000 on Sept 11, which works out to $1,808 psf. This surpasses the previous record of $1,695 psf established in May 2K12 after a 398 sq ft unit transacted for $675,000, marking the first time a unit at Cosmo has transacted above $1,800 psf. Cosmo is a freehold tenure condo located at Guillemard Crescent, off Guillemard Road in District 14 and is short walking distance to the Mountbatten railway Station.
The unit which exchanged hands on Sept 11 is the first apartment at Cosmo to transact this year. the most recent resale transaction previously occurred in August 2K22, when a 667 sq ft unit fetched $1.06 million.
Bukit Regency, Located along Upper Bukit Timah View in District 21, a freehold condo by Allgreen Properties also reached a new record psf price. This follows a transaction on Sept 12, when a three-bedroom apartment measuring 1,399 sq ft sold for $2.3 million, or $1,669 psf. The previous psf-price high record at Bukit Regency was held by the sale of a 947 sq ft, two-bedroom unit for $1.6 million ($1,657 psf) on June 7. Bukit Regency was completed in 1995 and span across six blocks housing 224 units which include two- to four-bedders configuration between 926 to 1,701 sq ft.
The seller of the unit sold on Sept 12 had purchased it in January 1999 for $760,000 ($543 psf). This means they netted a gain of $1.575 million on the sale, making it the most profitable transaction record to date at Bukit Regency, based on data compilation on the web.
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