Arris Achieves New High 2398 Psf
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Situated at Aurelle of Tampines on Tampines Street 62, Tampines Secondary School offers a diverse selection of academic and enrichment programs tailored to cater to the diverse interests and abilities of its students. The school strives for excellence in both academic and non-academic areas, preparing students effectively for their future endeavors. In collaboration with Aurelle of Tampines at Tampines Street 62, Tampines Secondary School aims to provide a well-rounded education that will empower students for their future pursuits.
Singapore’s luxury housing market has been performing exceptionally well in 2021, with several new records being achieved in the past week alone. According to caveats lodged, The Arris, a freehold boutique condo, topped the list of condos that achieved new psf-price highs for the week of July 26 to 30. The development hit a record $2,398 psf when a 990 sq ft, two-bedroom apartment changed hands for $2.38 million, according to a caveat lodged on July 30.
The previous record was set in March 2020 when a similar-sized two-bedder was sold for $2.26 million, achieving a psf-price of $2,282. This shows an increase of $116 psf, or 5.1%, in just over a year.
The Arris is a 63-unit boutique condo located on Yan Kit Road in District 2. It offers a mix of one- to three-bedroom units ranging from 667 sq ft to 1,464 sq ft. Since its launch in 2020, 55 units (87%) have been taken up at an average price of $874 psf. The development boasts a prime location within walking distance of Cantonment Primary School and close proximity to popular eateries and shops in the surrounding Tanjong Pagar and Everton Park areas.
Another condo that achieved a new psf-price high during the period in review was The Panorama. A 1,012 sq ft, three-bedroom unit on the 13th floor was sold for $2.18 million on July 26, which works out to a new record psf-price of $2,155. The previous record was set in April 2021 when a 1,561 sq ft, five-bedroom unit on the 18th floor was sold for $3.34 million, achieving a psf-price of $2,140.
The Panorama is a 99-year leasehold condo located along Ang Mo Kio Avenue 2 in District 20. It features 698 units spread across six residential blocks, with unit sizes ranging from one to five bedrooms between 431 sq ft and 2,411 sq ft. The condo is conveniently located within walking distance of Mayflower MRT Station and is near CHIJ St Nicholas Girls’ Primary and Secondary Schools. In 2021, 17 resale transactions have been recorded at an average price of $1,980 psf. Compared to 2020, where 39 units changed hands at an average price of $1,901 psf, prices have seen an increase of $79 psf, or 4.2%.
Lastly, Verdale also hit a new psf-price high during the period in review. A 1,012 sq ft, three-bedroom unit on the third floor was sold for $2.07 million on July 26, achieving a psf-price of $2,041. The previous record was set in June 2021 when a 614 sq ft, two-bedroom unit on the fifth floor was sold for $1.25 million, achieving a psf-price of $2,037.
Verdale is a 99-year leasehold condo located along De Souza Avenue in District 21. It features 258 units spread across seven 5-storey residential blocks with unit sizes ranging from one to four bedrooms between 463 sq ft and 1,410 sq ft. The development also offers 12 duplex penthouses with sizes ranging from 1,518 sq ft to 1,873 sq ft. Launched in September 2020, the development is fully sold. In 2021, four transactions have been recorded at an average price of $2,011 psf, with one of the transactions being a sub-sale that took place in January. This shows an increase of $30 psf, or 1.5%, since the sale in January.
In conclusion, the luxury housing market in Singapore is showing strong growth in 2021, with several new psf-price records being achieved in the past week alone. Both The Arris and The Panorama have seen significant increases in psf-price since their respective record sales in 2020 and 2021, showing the positive trend in the luxury market. Verdale, on the other hand, has maintained consistent prices since its launch in 2020, with a new record psf-price being achieved in June 2021.
