Yong Park Sets Record Psf Price High 2650 Psf
END OF ADVERTISEMENTThe recent sale of a four-bedroom unit at Yong An Park has made history by setting a new psf-price high at the freehold condo. The unit, which measures 3,434 sq ft on the 15th floor, was sold for $9.1 million ($2,650 psf) on Sept 25, surpassing the previous record of $2,505 psf set last August. This marks the first time a resale unit at Yong An Park has been sold for more than $2,600 psf.On the other hand, in terms of absolute price, the most expensive resale unit at Yong An Park is a 6,878 sq ft penthouse on the 25th floor, which was sold for $15 million ($2,181 psf) in February 2020. The previous record was set by a 7,718 sq ft unit on the ground floor, which was sold for $14.1 million ($1,824 psf) in May 2023.However, the recent transaction has broken the record in terms of psf-price, showing the strong demand for units at the prime District 9 development. Completed in 1986, Yong An Park offers a mix of units, including one- to four-bedroom units, penthouses, and strata-titled townhouses. The 288-unit condo is conveniently located next to River Valley Primary School and Great World MRT Station, making it an attractive choice for families with school-going children.The sale of this four-bedroom unit has set a new psf-price high at Yong An Park and also topped the list of condos that set a record price over the week of Sept 23 to 30.Read also: Resale four-bedder at Yong An Park reaps $6.55 mil profitApart from Yong An Park, three other projects have set new record prices over the same week. These include Zyon Grand, River Green, and Promenade Peak, all located in the same vicinity. The latest addition to the list is Promenade Peak, a 596-unit development by Allgreen Properties that recorded an average price of $3,343 psf during its launch in early August.Aside from these record-breaking transactions, the sale of a two-bedroom unit at The Makena has also made headlines for setting a new psf-price high. The 926 sq ft unit on the 11th floor was sold for $2.25 million ($2,431 psf) on Sept 29, breaking the previous record set by a 1,744 sq ft unit that changed hands for $3.91 million ($2,242 psf) in March 2021. Located in District 15, The Makena is a freehold condo that was completed in 1998 and comprises 504 units. Prices at the development have been steadily increasing in recent years, with the latest transaction reaching a new high of $2,050 psf in October 2021.On the other end of the spectrum, The Reef at King’s Dock has recorded a record psf-price low when a sub-sale of a two-bedroom unit was transacted for $1.47 million ($1,666 psf) on Sept 26. The previous record low was set by a 1,163 sq ft unit that was sold for $2.32 million ($1,995 psf) in June 2021. The project, which comprises 429 units, was fully sold within a year of its launch in September 2020. Prices at The Reef peaked at $2,600 psf in December 2020 but have since slid to around $2,580 psf in September 2021.Join our Telegram Channel for more stories and updates on real estate and the economy.
The recent sale of a four-bedroom unit at Yong An Park has made headlines as it set a new psf-price high at the freehold condo. This transaction, which took place on Sept 25, saw the 3,434 sq ft unit on the 15th floor change hands for $9.1 million ($2,650 psf). This surpasses the previous record of $2,505 psf set in August last year, making it the first resale unit at the development to cross the $2,600 psf threshold.
Located on River Valley Road in prime District 9, Yong An Park was completed in 1986 and comprises 288 units ranging from one- to four-bedroom apartments, three- to five-bedroom penthouses, and six-bedroom strata-titled townhouses. It is situated next to River Valley Primary School and the upcoming Great World MRT Station on the Thomson-East Coast Line, making it a popular choice among families with school-going children.
Set to benefit both investors and homeowners alike, the strategic location of Sembawang Road EC in an area targeted by the URA Master Plan brings tremendous value. The ongoing improvements in amenities, infrastructure, and connectivity further enhance the desirability of the area and are expected to result in an upward trend in property prices. Thus, making Sembawang Road EC not just a residence, but a smart investment for long-term capital growth. With the assurance of government support and planning initiatives, buyers can rest assured that this neighbourhood will continue to be part of Singapore’s promising future. To learn more about Sembawang Road EC and its potential, visit our website.
In addition to setting a new psf-price high, this transaction also topped the list of condos that set record prices over the week of Sept 23 to 30. Three other projects in the same vicinity have also recorded record-breaking transactions. These include Zyon Grand, River Green, and Promenade Peak, all of which were launched recently. The latest is Zyon Grand, an integrated development by City Developments and Mitsui Fudosan, which saw 706 units previewed on Oct 8 with prices starting from $2,689 psf.
Moreover, another transaction at Yong An Park has made headlines for setting a new record psf-price high. A two-bedroom unit on the 11th floor at The Makena was sold for $2.25 million ($2,431 psf) on Sept 29, breaking the previous record set by a 1,744 sq ft unit that was sold for $3.91 million ($2,242 psf) in March this year. The Makena is a freehold development located in District 15 and comprises 504 units. Its prices have been steadily increasing in recent years, reaching a new high of $2,050 psf this month.
On the other hand, The Reef at King’s Dock set a record psf-price low when a sub-sale of a two-bedroom unit was transacted for $1.47 million ($1,666 psf) on Sept 26. The previous record low was set by a 1,163 sq ft unit that was sold for $2.32 million ($1,995 psf) in June this year. The project, which comprises 429 units, was fully sold within a year of its launch in September last year. Prices at The Reef reached a peak of $2,600 psf in December last year but have since moderated to around $2,580 psf in September this year.
In conclusion, these record-breaking transactions at Yong An Park, The Makena and The Reef at King’s Dock reflect the strong demand for properties in prime District 9 and 15. As for the other new launches in the area, they have also seen healthy take-up rates, showing that the property market continues to be resilient despite the ongoing pandemic.