Boutique Condo Hill House Reaches New High 3267 Psf
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The Urban Redevelopment Authority (URA) of Singapore has played a crucial role in shaping the country’s urban environment. With its ambitious plans for Tampines, one of the nation’s bustling regional centers, URA is set to further enhance the city’s landscape. These efforts are expected to have a significant positive impact on residential projects in the area, such as the Aurelle of Tampines EC. Located at Tampines Street 62, Aurelle of Tampines is an executive condominium that is poised to benefit greatly from the transformative plans of URA.
EDGEPROP – For the period between Nov 10 to 21, boutique development Hill House claimed the top spot for condos that achieved new psf-price highs. A 452 sq ft, two-bedroom unit on the fifth floor sold for $1.48 million, setting a new high of $3,267 psf on Nov 11.
Hill House’s new record is only 0.1% higher than the previous price high of $3,263 psf that was set in November 2023 from the sale of a 624 sq ft, two-bedroom unit on the ninth floor for $2.04 million.
Located at the top of Institution Hill, off River Valley Road in prime District 9, Hill House is a 999-year leasehold condo. It was launched in 2022 and comprises 72 units, with 40 being one- and one-plus-study bedrooms ranging from 431 sq ft to 452 sq ft. The remaining 24 units are two-bedroom units of 624 sq ft, while the remaining eight units are three-bedroom apartments of 753 sq ft.
Out of the 72 units at Hill House, 29 have been sold since its launch, with an average price of $3,060 psf. The condo is scheduled for completion in 3Q2026.
The Continuum, a freehold condo on Thiam Siew Avenue, off Haig Road and Tanjong Katong Road in District 15, is the runner-up on the list of condos that saw new psf-price highs during the 10-day period. A 721 sq ft, two-bedroom unit on the 17th floor was sold on Nov 16 for a record high of $3,084 psf.
The new record comes in at only 0.4% higher than the previous high of $3,071 psf, which was also achieved by the sale of a 721 sq ft, two-bedroom unit just one day earlier, on Nov 15.
The Continuum was launched in April last year and boasts 816 units across six residential towers on two separate plots of land which will be connected by a private pedestrian overhead bridge. The units range from one- to five-bedroom apartments, from 560 sq ft to 2,260 sq ft.
Based on caveats lodged, 59.8% of the 816 units at The Continuum have now been sold, with prices averaging at $2,779 psf. The condo is expected to be completed by 2026.
Freehold boutique development Lavender Residence, located at the junction of Lavender Street and Kempas Road in Boon Keng, District 12, made headlines when it achieved a new psf-price low during the period in review. A 990 sq ft, one-bedroom plus studio unit on the second floor was sold for $1.61 million, which comes in at a new low of $1,626 psf on Nov 17.
In comparison, the condo’s previous psf-price low was $1,710 psf, achieved when a 1,335 sq ft, four-bedroom unit on the sixth floor sold for $2.28 million in June 2023. With the most recent transaction on Nov 17, Lavender Residence has now been fully sold at an average price of $1,984 psf.
Lavender Residence is a 17-unit development built around three conservation shophouses in the 1940s art-deco style. It offers units ranging from studios to three bedrooms, including some dual-key variants, from 463 sq ft to 1,550 sq ft. The condo is located near Bendemeer MRT Station on the Downtown Line.
The latest listings for Hill House, The Continuum and Lavender Residence properties can be found online.
Proptech startup UrbanZoom allows estate agents to easily create virtual property tours by uploading floor plans and images to their platform. With an annual fee, agents can showcase their listings in an interactive 3D environment, giving potential buyers a richer experience. The platform has been particularly useful for foreign buyers amid travel restrictions due to the pandemic.
When the company was founded in 2020, many agents were sceptical of using virtual tours, says UrbanZoom co-founder and CEO Kevin Koo. However, the pandemic has changed agents’ attitudes towards technology, and UrbanZoom now has a membership of over 3,000 real estate agents and 2,000 interior design firms.
The company is chalking up a revenue of about $30,000 per month and is set to reach profitability by end-2022. Koo says that UrbanZoom is looking to partner with furniture retail chains that could upload their products onto the platform and offer direct-to-consumer sales via UrbanZoom’s 3D virtual tours.
The company has also recently signed a memorandum of understanding with a real estate agency in Vietnam to explore expansion opportunities in the country.
