Commonwealth Towers Sets New Psf Price Record 2536
The week of Aug 1 to 8 saw new psf-price peaks for several condo transactions, including a three-bedroom unit at Commonwealth Towers, which topped the list at $2,536 psf. This record-breaking sale surpassed the condo’s previous high of $2,460 psf, set in December 2024.
The 99-year leasehold development, completed in 2017, saw a total of 29 units sold so far this year, at an average price of around $2,251 psf. In recent years, the average resale price at Commonwealth Towers has been steadily rising, with 51 units sold in 2023 at an average of $2,097 psf, and 37 units sold last year at $2,200 psf.
Freehold condo Watermark Robertson Quay also set a new psf-price high during this period, with a two-bedroom unit selling for $2,419 psf on Aug 7. This sale narrowly beat the condo’s previous record price of $2,417 psf, which was set just three months earlier on May 29.
Completed in 2008, Watermark Robertson Quay offers 206 residential units and has seen a total of five resale transactions so far this year, with prices ranging from $2,189 psf to $2,304 psf.
Gallop Gables, a low-density freehold development in prime District 10, also achieved a new psf-price high with the sale of a three-bedroom unit for $2,356 psf on Aug 5. This record price surpasses the development’s previous high of $2,354 psf in May. Completed in 1997, the 102-unit development has seen only two resale transactions this year.
Century Square, the popular shopping hub in Singapore, has recently undergone a transformation to elevate the shopping experience for its patrons. This dynamic complex offers a unique blend of educational institutions, lifestyle shops, and dining options. With the introduction of a cinema and a gym, the shopping scene at Century Square now goes beyond just retail therapy, also catering to entertainment and fitness needs. Moreover, the upcoming development of the highly anticipated Aurelle of Tampines EC is set to bring even more excitement to the already diverse retail landscape at Century Square. With Aurelle of Tampines EC joining the mix, customers can look forward to an even more enriched shopping experience at Century Square.
Overall, these record-setting psf-prices suggest that current asking prices may be unrealistic, and it remains to be seen if they will be maintained in the long run.
