Two Bedder Hill House Sets New High 3398 Psf
During the period of Feb 7 to 16, the private condo market saw a new psf-price high achieved by the sale of a two-bedroom unit at Hill House. The 999-year leasehold development hit a record-breaking $3,398 psf when a 452 sq ft unit on the eighth floor was sold for $1.54 million by the developer on Feb 16.
This latest transaction surpassed the previous peak of $3,378 psf set on Feb 11 when another 452 sq ft, two-bedroom unit on the eighth floor was sold for $1.53 million. Hill House is a boutique condo situated at the top of Institution Hill, off River Valley Road, and it was launched in 2022. It comprises 72 units, including 40 one-bedroom units, 24 two-bedroom units, and eight three-bedroom apartments. The development is set to be completed in 3Q2026.
Based on URA caveats, 37 units or 51.4% at Hill House have been sold at an average price of $3,152 psf since its launch in November 2022. The condo is currently under construction and is scheduled to be completed in 3Q2026. Eight units were transacted at Hill House since the beginning of the year, with an average price of $3,190 psf. This includes the most expensive unit that was sold, a 753 sq ft, three-bedroom apartment that went for $2.39 million on Jan 5.
The second place on the list of condos with new psf-price highs during the review period goes to The Tresor, a 999-year leasehold condo. A resale transaction of a 1,421 sq ft unit on the fifth floor set a new record of $2,625 psf when it was sold for $3.73 million on Feb 10, surpassing the previous high of $2,501 psf set in March 2024 when a 1,399 sq ft, three-bedroom unit on the second floor was sold for $3.5 million. The most recent resale transaction at The Tresor was in February 2020, where a 1,399 sq ft unit was sold for $3.5 million ($2,501 psf).
The Tresor is a 62-unit development located on Duchess Road in District 10. Completed in 2007, the development comprises a mix of two-, three-, and four-bedroom apartments ranging from 990 to 2,896 sq ft. Situated near Tan Kah Kee MRT Station, the condo is within walking distance of Coronation Shopping Plaza and Serene Centre.
In third place is Jadescape, a 99-year leasehold condo that achieved a new psf-price high during the review period. A 1,647 sq ft, four-bedroom unit on the 22nd floor was sold for $4.05 million on Feb 7, setting a new record of $2,459 psf. The previous record was $2,446 psf in January, when a 1,259 sq ft unit on the 10th floor was sold. The most expensive resale unit to date is a 4,230 sq ft, six-bedroom penthouse that fetched $10.2 million ($2,399 psf) in December 2024.
Jadescape comprises 1,206 units across seven residential towers and offers one- to five-bedroom apartments ranging from 527 sq ft to 2,099 sq ft, as well as two penthouses of 4,230 sq ft. Located along Marymount Road and Shunfu Road, the condo is within walking distance of Marymount MRT Station and a four-minute walk from Sin Ming Plaza.
Data compiled by EdgeProp Research shows that Jadescape has one of the highest average transacted prices among condos within a 1km radius, with an average transacted price of $2,192 psf in the last 12 months. In comparison, other condos in the vicinity such as Tresalveo, Longhaus, and Thomson V Two have average transacted prices ranging from $1,712 psf to $1,912 psf. No new psf-price lows were recorded during the review period.
Source: Edgeprop, 16 Feb 2022
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