Resale at The Edge on Cairnhill sets psf-price high of $2,348

During the week of Feb 18 to 24, a new record high for psf-price was set at The Edge on Cairnhill. A 4-bed 2,142 sq ft unit on the 10th floor sold for $5.03 million, or $2,348 psf. While another freehold condo, Newton 18, recorded the second highest psf-price — a 1,249 sq ft, three-bedroom unit sold for $2.88 million ($2,307 psf) on Feb 23.At the same time, Petit Jervois set a new low for psf-prices. A 603 sq ft, one-bedroom unit on the ground floor was sold by the developer for $1.54 million, or $2,561 psf, on Feb 22.

The Edge on Cairnhill is a freehold condo located on Cairnhill Road in District 9, Singapore. Situated in the highly desirable neighbourhood between Orchard Road and Newton, this boutique 46-unit property was completed in 2002 and recently topped record psf-price highs for condos. On Feb 21, a 2,142 sq ft unit on the 10th floor changed hands for $5.03 million, or $2,348 psf. This is marginally higher than the previous record psf-price set at the same location on Sept 30, 2022, when a 2,131 sq ft unit went for $5 million or $2,346 psf.

The Edge on Cairnhill is surrounded by several other upmarket developments, including The Peak @ Cairnhill I & II, Hilltops, The Scotts Tower and the upcoming Klimt Cairnhill. Landmark spots in the vicinity include Goodwood Park Hotel, Grand Hyatt Singapore, Scotts Square and The Paragon shopping mall, as well as Mount Elizabeth Hospital and Medical Centre.

The Feb 21 transaction marks the first resale at The Edge on Cairnhill so far this year. It recorded two resale transactions last year – apart from the Sept 30 sale, a 2,131 sq ft unit on the 17th floor was sold for $4.89 million ($2,299 psf) on June 22.

Based on URA caveats, the average price at the condo has shown a positive trend in the past 10 years. In March 2013, it was about $1,827 psf, increasing to $2,025 psf as of February 2023.

The second highest record psf-price set in the week was at Newton 18, a freehold condo on Newton Road in District 11. On Feb 23, a 1,249 sq ft, three-bedroom unit on the 26th floor was sold for $2.88 million ($2,307 psf), noticeably higher than the previous record in the same development of $1.21 million ($2,121 psf) on Dec 23.

Newton 18 is an 81-unit development completed in 2002 and the average psf-price of the units is generally on a par with other completed freehold condos in the area at $2,051 psf.

Meanwhile, Petit Jervois set a new low for psf-prices. A 603 sq ft, one-bedroom unit on the ground floor was sold by the developer for $1.54 million, or $2,561 psf, on Feb 22. This is lower than the record low before, which was posted by a 646 sq ft, one-bedroom unit sold for $1.69 million ($2,614 psf) on Oct 2020.

Petit Jervois is a freehold 55-unit boutique project located on Jervois Road in District 10. Developed by SC Global Developments, the project consists of two 5-storey blocks of one- and two-bedroom units that range from 581 to 1,012 sq ft, and three-bedroom units of 1,044 to 1,292 sq ft.

It is part of an exclusive neighbourhood which borders the Chatsworth Park Good Class Bungalow area and nearby projects include Principal Garden, The Crest, Mon Jervois, Enchante and 10 Evelyn, as well as 35 Gilstead. Previews for Petit Jervois began in 2018 and about 47% or 26 of the total units have been sold to date. The most expensive Tengah EC unit sold by the developer is a 1,012 sq ft unit on the fifth floor, for $2.88 million ($2,852 psf), on March 31, 2022.

Overall, the week of Feb 18 to 24 saw positive trends in psf-prices for condos – The Edge on Cairnhill and Newton 18 had both set record highs, while Petit Jervois had notched a new low.