Commonwealth Towers Sets New Psf Price Record 2536
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Commonwealth Towers Makes Splash with Record Psf-Price Sale
A stunning three-bedroom unit at Commonwealth Towers made waves last week, setting a new psf-price record for the development and topping the list of transactions that achieved new high prices during the week of Aug 1 to 8. The 99-year leasehold condo, located along Commonwealth Avenue in District 3, reached a new psf-price high of $2,536 on Aug 6, when a 1,076 sq ft unit on the 43rd floor was sold for $2.73 million.
This surpasses the condo’s previous high of $2,460 psf, which was set in December 2024 when a 904 sq ft, three-bedroom unit on the 40th floor was sold for $2.22 million. It’s clear that Commonwealth Towers is in high demand, and this latest record-setting sale is a testament to the development’s quality and desirability.
Completed in 2017, Commonwealth Towers features two 43-storey residential blocks and houses 845 units. The units range from one- to four-bedrooms and span 441 sq ft to 1,302 sq ft. In terms of absolute price, the most expensive unit at Commonwealth Towers to change hands was a 1,302 sq ft, four-bedroom unit on the 39th floor, which sold for $2.96 million ($2,273 psf) in November 2024.
However, the latest sale at Commonwealth Towers is not the only high-priced transaction that took place during the period in review. Freehold condo Watermark Robertson Quay also achieved a new psf-price peak when an 893 sq ft, two-bedroom unit on the ninth floor was sold for around $2.16 million, translating to $2,419 psf, on Aug 7. This narrowly edges out the condo’s previous record price of $2,417 psf, set just three months earlier when a 1,001 sq ft, two-bedroom unit fetched $2.42 million on May 29.
Located on Rodyk Street in District 9, Watermark Robertson Quay was completed in 2008 and offers 206 residential units. The units range from one- to four-bedrooms and span 1,152 to 2,562 sq ft. So far this year, there have been three other resale deals at Watermark Robertson Quay, with prices ranging from $2,189 psf to $2,304 psf.
Lastly, Gallop Gables also made headlines with a new psf-price high achieved during the week in review. A 1,744 sq ft, three-bedroom unit was sold for around $4.12 million on Aug 5, setting a record of $2,356 psf. This narrowly beats the previous high of $2,354 psf, which was set in May 2024 when a 1,733 sq ft, three-bedroom unit was sold for $4.08 million.
Gallop Gables is a low-density development with just 102 units and is located along Farrer Road in prime District 10. Completed in 1997, the freehold condo offers two- to four-bedroom units ranging from 1,130 to 3,412 sq ft. While only two resale transactions have been recorded at Gallop Gables this year, in 2024, three units were sold at an average price of $2,149 psf.