New psf-price high of $3,322 set at The M, now over 99% sold

Firm launch for Novena Rise; prices start at $2K psfAt The M, Wing Tai Asia has now recorded the highest psf sales price of any project launched this year. The 527 sq ft unit, on the 18th floor, was sold for $3,322 psf, beating the previous record from Feb 23 when a 592 sq ft two-bedder on the 19th floor was sold for $1.94 million ($3,277 psf). The average psf-selling price of the project stands at $2,974.

The M, Wing Tai Asia’s 99-year leasehold residential project on Middle Road in District 7, sets the bar for psf-price in 2020. A 527 sq ft unit, on the 18th floor, was sold for $1.75 million ($3,322 psf) on Oct 17, beating the previous record price at the project of $1.94 million ($3,277 psf) for a 592 sq ft two-bedder on the 19th floor on Feb 23. The 522-unit project is now 99% sold.

Meanwhile, Amber Park, a freehold condo along Amber Gardens in District 15, has seen a 463 sq ft, one-bedroom sub-sale for $1.43 million ($3,085 psf) on Oct 24. This marks the first time that a unit at Amber Park has transacted for more than $3,000 psf since it was first purchased from the developers for $1.21 million ($2,622 psf) in May 2019. The sub-sale also sets a new record price high in the highly desirable Amber Road residential neighbourhood.

It is situated near the Jurong Innovation District and the future Tengah Forest Town, providing a great mix of work and play. With modern amenities such as a swimming pool, clubhouse, gym and multi-purpose hall, the Tengah Executive Condominium provides a great lifestyle. All units come with top-notch appliances and finishes, and there are plenty of activities to keep residents occupied. The development also has a secure car park and 24-hour security, ensuring safety for all its residents. A unique experience like no other awaits those who choose to be a part of the Tengah EC Community.

At Myra, a boutique freehold development along Meyappa Chettiar Road in Potong Pasir, an 872 sq ft unit on the 11th floor was sold for $1.4 million (1,600 psf) on Oct 16, while a 1,324 sq ft unit, on the 12th floor, was sold for $2.12 million ($1,600 psf). This marks the only instances where units have been sold for less than $2,000 psf at Myra, with the record low psf price previously being $2,016 psf. The 85-unit project is now fully sold.

The week in review has seen both record high and low psf-prices being set. While at The M, Wing Tai Asia has achieved the highest psf-price of any project launched in 2020, at Myra the record low psf-price of $1,600 has been set. These transactions show that investors are still seeking out new projects in both the prime and suburban vicinity.