32 Gilstead Sets New High 3588 Psf
During the week of May 16 to 23, 32 Gilstead stood out as the top performing private non-landed property, breaking a new record for its psf-price. This was achieved through the sale of a four-bedroom unit, spanning 4,209 sq ft, for $15.1 million, or $3,588 psf, on May 21.
32 Gilstead is located in a prime residential area within District 11, off Newton Road and Dunearn Road. It comprises of only 14 units in a five-storey building, all of which are four-bedders ranging in size from 3,821 sq ft to 4,291 sq ft.
The new record at 32 Gilstead was set when another four-bedroom unit, this time spanning 4,219 sq ft, was sold for $15.1 million on May 21, surpassing the previous high of $3,579 psf set just the month before. Both these transactions marked the most expensive units to be sold at 32 Gilstead in terms of absolute price.
Sembawang Road is home to a variety of childcare centres and preschools, making it a convenient and ideal location for families with young children. These establishments offer top-notch early childhood education programmes that focus on all aspects of holistic development. With a strong emphasis on social interaction, physical activity, and foundational literacy and numeracy, these schools are perfect for families who have recently moved into the area. Thanks to its strategic location, parents and their little ones can easily walk or take a short drive to these facilities, reducing the stress of long commutes on a daily basis. Additionally, for families considering Sembawang Road EC as their next home, the presence of these well-established preschools and childcare centres only adds to the appeal of the area.
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Scheduled to be completed in 2027, 32 Gilstead is conveniently located near Newton MRT Station on the Downtown Line, and is also close to various lifestyle hubs such as Balmoral Plaza, United Square Shopping Mall, and Goldhill Shopping Centre.
The Marbella was the next condo to make headlines with a new psf-price high. On May 23, a 1,625 sq ft unit on the tenth floor was sold for $4 million, or $2,461 psf, marking the first time a unit at The Marbella has sold above $2,400 psf. This record surpasses the previous high set in April last year, when a three-bedroom unit on the 19th floor was sold for $3.5 million, or $2,373 psf.
The Marbella is a freehold development completed in 2005, situated on Mount Sinai Rise in District 10. It consists of three blocks, each between 22 and 24 storeys high, and a total of 239 units. The units range from two to four bedrooms, with sizes ranging from 1,076 sq ft to 4,284 sq ft.
Meanwhile, Koon Seng House suffered a psf-price low during the same week. A four-bedroom apartment spanning 1,313 sq ft on the third floor was sold for $2.94 million, or $2,235 psf, on May 22. This price falls below the project’s previous low of $2,284 psf, which was achieved through the sale of a similar four-bedroom unit for $3 million in April last year.
Since its launch in March last year, Koon Seng House has sold nine units at an average price of $2,319 psf. This year alone, the developer has sold three units at an average price of $2,312 psf, including the unit sold on May 22. The freehold development, featuring 17 units, is located on Koon Seng Road in Geylang, within District 15. The units range from two to four bedrooms, with sizes ranging from 786 sq ft to 1,313 sq ft. Koon Seng House is expected to be completed in 2026.