Gallop Green Sets New Psf Price Peak 2622
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Gallop Green, The Belvedere, and YGK Garden are among the condos to hit a new price-per-square-foot high between Sept 8 and Sept 13. At Gallop Green, a three-bedroom unit sold for $8.58 million, reflecting a new record of $2,622 psf. Meanwhile, The Belvedere and YGK Garden saw new highs of $2,486 psf and $2,168 psf respectively. Prime District 10’s Gallop Green records highest psf-price in Sept 8-13Gallop Green in Prime District 10 has topped the list of apartments and condos that have hit a new psf-price high between Sept 8 and Sept 13. The record-breaking unit that contributed to the new high at Gallop Green is a 3,272 sq ft, three-bedroom unit that sold for $8.58 million on Sept 10, translating to a new price peak of $2,622 psf. This psf-price surpasses the condo’s previous record of $2,431 psf by 7.9%. The previous high was set in September 2023 when another three-bedroom unit of a similar size transacted for $7.85 million.According to URA caveats, the seller of the unit sold on Sept 10 had purchased it in December 2017 for $5.6 million. As such, the seller made a profit of $2.98 million, reflecting a 53% capital gain.Gallop Green has only seen one unit change hands so far this year. However, last year, the development saw two resale transactions. Apart from the 3,229 sq ft unit that set the previous psf-price record, another 2,992 sq ft unit changed hands for approximately $7.23 million, or $2,414 psf, in July 2023.Gallop Green, which was completed in 2002, is a freehold development comprising four blocks and 53 residential units ranging between 2,917 sq ft and 5,102 sq ft. Several primary schools, including Nanyang Primary School, Raffles Girls’ Primary School and New Town Primary School, can be found within a 2km radius of the property.During the same period, The Belvedere, a freehold condo located in the same district, came in second with a new psf-price peak of $2,486. This was achieved when a 1,302 sq ft, three-bedroom unit on the 18th floor was sold for approximately $3.24 million on Sept 11. This new psf-price record is only 1.4% higher than the previous record of $2,452 psf that was set on May 6 earlier this year when a 1,259 sq ft, three-bedroom unit on the 21st floor was sold for approximately $3.09 million.The Belvedere has seen five units change hands so far this year, with an average psf-price of $2,341. The unit with the lowest psf-price was a 1,367 sq ft, three-bedroom apartment on the second floor that sold for approximately $2.9 million, or $2,121 psf, on Sept 6.The Belvedere is a 167-unit freehold development that was completed in 2007. It features two residential blocks housing two-bedroom units that span between 1,012 sq ft and 1,206 sq ft, and three-bedroom units spanning between 1,238 sq ft and 1,615 sq ft. Additionally, it also has seven penthouse units that span between 2,131 sq ft and 2,949 sq ft. The condo directly adjacent to Katong Park and within close proximity to Katong Park MRT Station along the Thomson-East Coast Line.Rounding out the top-three, freehold condo YGK Garden saw a new psf-price high with the resale of a 2,067 sq ft unit on the third floor for $4.48 million, or $2,168 psf, on Sept 12. This represents a 4.6% increase compared to the previous record of $2,071 psf that was set in October 2023 when another 2,067 sq ft unit on the same floor was sold for approximately $4.28 million.The sellers of the unit that sold on Sept 12 had purchased it for approximately $3.03 million, or $1,464 psf, in March 2017. Accordingly, they made a profit of approximately $1.46 million.YGK Garden is a 16-unit freehold development located along Belmont Road in Prime District 10. The project is situated in close proximity to amenities found at Holland Village such as dining and retail options at One Holland Village, as well as transport options from Holland Village MRT Station along the Circle Line.During the period of review, no new psf-price lows were recorded.
